Assignment of contract proceeds

Borrower hereby further collaterally transfers and assigns to Lender and acknowledges that Lender shall be entitled to receive i any and all sums how to solve distance word problems algebra may be awarded and become payable to Borrower problem solving method in science condemnation of all or any portion of the Assignment of contract proceeds Propertyassignment of contract proceeds ii the proceeds of any and assignment of contract proceeds insurance upon the Mortgaged Property other than the proceeds of general public liability insurance. Another important consideration when assignment of contract proceeds an assignment of proceeds agreement is whether such an agreement may be further assignable. Normally, the party conducting the audit will bear any expenses accruing as a result of the audit. Parties often cannot be trusted to fairly and accurately calculate the proceeds which will be conveyed to a third party under an assignment of proceeds agreement. Borrower hereby authorizes and directs the issuer of any such insurance or award to make payment directly to Lender. Loan Basics. Sample 2. The document may also note whether or not the assignment is further assignable, and this document may reference the longer assignment of proceeds agreement. Sometimes, parties wish to assign all of the proceeds related to an investment or other interest. A drawback of this type of transaction is that the original beneficiary is still responsible for fulfilling all requirements under the letter of credit, even when the funds are redirected to the third party. In addition, the cost of such an audit may also be a point of contention between the parties.