Common use of Assignment of Payments Clause in Contracts

Assignment of Payments. Subsequent to the assignment of any Contracts by Broker/Lessor to BMF, Broker/Lessor agrees not to accept payments or tender of payments made to Broker/Lessor by any Lessee under any Contracts, but to refer such Lessee to BMF. Any payments made to Broker/Lessor under any Contracts purchased by BMF shall be held by the Broker/Lessor in trust for BMF and shall be delivered to BMF forthwith along with all necessary endorsements.

Assignment of Payments. Subsequent to the assignment of any Contracts by Broker/Lessor to BMF, Broker/Lessor agrees not to accept payments or tender of payments made to Broker/Lessor by any Lessee under any Contracts, but to refer such Lessee to BMF. Any payments made to Broker/Lessor under any Contracts purchased by BMF shall be held by the Broker/Lessor in trust for BMF and shall be delivered to BMF forthwith along with all necessary endorsements.Contracts