COLLATERAL ASSIGNMENT FORM Sample Clauses

A Collateral Assignment Form is a legal document that allows a borrower to transfer certain rights in an asset, typically a life insurance policy, to a lender as security for a loan. In practice, this means the lender can claim the policy’s proceeds up to the amount owed if the borrower defaults, while any remaining benefits go to the original beneficiaries. This clause ensures the lender has a secured interest in the asset, reducing their risk and providing a clear mechanism for debt repayment in case of default.
COLLATERAL ASSIGNMENT FORM. Insured agrees to execute and deliver to Pinacor and Insurer a Collateral Assignment Form in connection with the execution of this Amendment, establishing Pinacor as the direct beneficiary of the Policy in an amount equal to the total amount of premiums paid to Insurer on the Policy, whether paid by Pinacor or MicroAge.
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Related to COLLATERAL ASSIGNMENT FORM

  • Collateral Assignment The Owner may assign this contract as collateral security. The Company is not responsible for the validity or effect of a collateral assignment. The Company will not be responsible to an assignee for any payment or other action taken by the Company before receipt of the assignment in writing at its Home Office. The interest of any beneficiary will be subject to any collateral assignment made either before or after the beneficiary is named. A collateral assignee is not an Owner. A collateral assignment is not a transfer of ownership. Ownership can be transferred only by complying with Section 8.2.

  • ASSIGNMENT FORM (To assign the foregoing Warrant, execute this form and supply required information. Do not use this form to purchase shares.)

  • Assignment of Contract A. No assignment by a party hereto of any rights under or interests in the Contract will be binding on another party hereto without the written consent of the party sought to be bound; and, specifically but without limitation, moneys that may become due and moneys that are due may not be assigned without such consent (except to the extent that the effect of this restriction may be limited by law), and unless specifically stated to the contrary in any written consent to an assignment, no assignment will release or discharge the assignor from any duty or responsibility under the Contract Documents.

  • General Assignment A general assignment by Tenant for the benefit of creditors;

  • Assignment, Etc The Holder may assign or transfer this Note to any transferee at its sole discretion. This Note shall be binding upon the Company and its successors and shall inure to the benefit of the Holder and its successors and permitted assigns.