Common use of Covenants of Assignor Clause in Contracts

Covenants of Assignor. Assignor hereby covenants and agrees that: (a) Assignor will not enter into any other assignment, pledge, or security agreement covering the Collateral so long as any of the Indebtedness remains unpaid, except any such security agreement in favor of Lender. Assignor will not sell or offer to sell or transfer the Collateral or any interest therein as long as the Indebtedness remains unpaid. (b) Assignor will defend the Collateral against the claims and demands of all persons or entities claiming the same or any part thereof or interest therein. (c) Until the full and complete payment of all of the Indebtedness, Lender is hereby fully authorized and empowered upon the occurrence of any Event of Default under the Loan Agreement: (i) to receive, collect and demand payment directly from the maker of each Collateral Note of all sums and amounts payable on or with respect to the Collateral Notes; and