Common use of Insurance assignment Clause in Contracts

Insurance assignment. Upon the occurrence and continuation of an Event of Default, Borrower hereby assigns to Bank all sums, including without limitation, return of premiums, which may become payable under any and all of Borrower's policies of insurance and directs each insurance company issuing any such policy to make payment thereof directly to Bank.

Insurance assignment. Upon the occurrence and continuation of an Event of Default, Borrower hereby assigns to Bank Lender all sums, including without limitation, return of premiums, which may become payable under any and all of Borrower's ’s policies of insurance and directs each insurance company issuing any such policy to make payment thereof directly to BankLender.