Assignment of Payments Clause Samples
The Assignment of Payments clause governs the transfer of rights to receive payments under a contract from one party to another. Typically, this clause outlines whether and how a party may assign its right to receive money owed, often requiring prior written consent from the other party or specifying conditions under which assignment is permitted. For example, a contractor might assign its right to payment to a lender as collateral for a loan. The core function of this clause is to control and clarify the circumstances under which payment rights can be transferred, thereby protecting the interests of all parties and preventing unauthorized or unexpected changes in payment obligations.
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Assignment of Payments. The Advisor may assign any rights to receive fees or other payments under this Agreement without obtaining the approval of the Board or Conflicts Committee, and the Company shall honor and pay directly the assignee of such assignment.
Assignment of Payments. Merchant shall not assign to any third party any payments due to Merchant under the Agreement, and all indebtedness arising from any charges will be for bona fide sales of goods and services (or both) at its Locations and free of liens, claims, and encumbrances other than ordinary sales taxes; provided, however, that Merchant may sell and assign future transaction receivables to Processor, its affiliated entities and/or any other cash advance funding source that partners with Processor or its affiliated entities, without consent of American Express.
Assignment of Payments. Subsequent to the assignment of any Contracts by Broker/Lessor to BMF, Broker/Lessor agrees not to accept payments or tender of payments made to Broker/Lessor by any Lessee under any Contracts, but to refer such Lessee to BMF. Any payments made to Broker/Lessor under any Contracts
Assignment of Payments. As compensation for the services provided pursuant to this Agreement, Manager hereby assigns payments as follows:
Assignment of Payments. Throughout the Delivery Term, Seller shall assign the right to payments for Subscribed Delivered Energy to its Customers.
Assignment of Payments. 10.5.1 Claims for monies due or to become due CONTRACTOR may be assigned to a bank, trust company, or other financial institution, and may thereafter be further assigned and reassigned to any such institution. Any such assignment or reassignment may be made to one (1) party as agent or trustee for two (2) or more parties participating in such financing.
10.5.2 No assignment by CONTRACTOR of any CONTRACT to be entered into hereunder, or of any part thereof, or of funds to be received thereunder by CONTRACTOR will be recognized by GILBERT unless such assignment has had prior consent of GILBERT and the surety has been given notice of such assignment in writing and has consented thereto in writing.
Assignment of Payments. Except with respect to contracts for which the government has determined that a prohibition on assignment of claims is in the government’s interest, each of the Credit Parties and their Subsidiaries has the right to assign to the Administrative Agent all payments due or to become due under each of such Person’s Government Contracts, and there exists no uncancelled prior assignment of payments under any of such Credit Party’s Government Contracts.
Assignment of Payments. Borrower has the right to assign to Lender all Payments due or to become due under each of Borrower’s Government Contracts (except Payments under Borrower’s Government Contract which are not assignable, as disclosed in writing by Borrower to Lender [a] prior to the execution of this Agreement or [b] promptly upon execution of each such Government Contract entered into after the date of this Agreement), and there exists no uncancelled prior Assignment of Payments under any of Borrower’s Government Contracts.
Assignment of Payments. Grower may assign to a third party in whole or in part its right to receive payment by giving Diamond written notice of such assignment. Diamond will be justified in relying upon such notice until it receives written notice terminating or changing such assignment.
Assignment of Payments. As compensation for the services provided pursuant to this Agreement, Advisor hereby assigns payments as follows: