RIGHT TO ASSIGN PAYMENT Sample Clauses
The Right to Assign Payment clause allows a party to transfer its right to receive payments under a contract to another individual or entity. In practice, this means that if one party is owed money, they can assign that right to a third party, such as a lender or factoring company, often by providing written notice to the other contracting party. This clause facilitates financial flexibility and liquidity for the party assigning the payment, while also clarifying the process and conditions under which such assignments are permitted.
RIGHT TO ASSIGN PAYMENT. Developer may rely upon the payments to be made to Developer out of the TIRZ Fund as specified in this Agreement and Developer may assign its rights to such payments, either in full or in trust, for the purposes of financing its obligations related to this Agreement as per Section 16.5 hereof, but the Developer’s right to such payments is subject to the other limitations of this Agreement. Notwithstanding the foregoing, the City shall issue a check or other forms of payment made payable only to Developer or its permitted assignee.