Proceeding with a clear understanding and agreement in principle: The key elements of the LOI should be negotiated beforehand and can be used as a guideline to prepare the purchase agreement. It should state that, if all information during due diligence confirms what was represented, that the buyer intends to complete the purchase under certain conditions. The key elements should include:
Actors are paid to act; any agent can tell you that the script is the least important part to them. When it comes to the principal cast (which the sales and financing are predicated), unless I can call the agent or manager directly myself and verify, there is no real attachment. The exception being a Spielberg or a Scorcese whose stature in the industry could reasonably facilitate any star interest.