Common use of Insurance assignment Clause in Contracts

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

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