Leases and Conditional Sale Contracts Clause Samples

Leases and Conditional Sale Contracts. In the event that any Collateral, including proceeds, is evidenced by or consists of Leases or conditional sale contracts, Borrower shall assign such Leases or conditional sales contracts to Lender and deliver physical possession to Custodian, for the benefit of Lender, of (i) the Original Contract evidencing the obligations described therein, executed by the lessee (or other obligor) thereof, and (ii) an assignment (in form and substance acceptable to Lender, which assignment may be part of a master assignment of multiple Leases to Lender) of such Original Contract executed by Borrower in favor of Lender.