Common use of Collateral Assignment of Policies Clause in Contracts

Collateral Assignment of Policies. To secure the repayment to the Company of the amounts it advances to the Owner under Section 3.1.2, the Owner has, contemporaneously herewith, assigned the Policy to the Company as collateral, under the instrument which in all material respects is the same as the form attached hereto as Addendum 1. The collateral assignment of the Policy to the Company hereunder shall not be terminated, altered or amended by the Owner, without the express written consent of the Company. The parties hereto agree to take all action necessary to cause the collateral assignment to conform to the provisions of this Agreement. In the event of any inconsistency between the terms of this Agreement and the terms of the collateral assignment, the terms of this Agreement shall control.

Collateral Assignment of Policies. To secure the repayment to the Company Corporation of the amounts it advances to the Owner under Section 3.1.2, the Owner has, contemporaneously herewith, assigned the each Policy to the Company Corporation as collateral, under the instrument instruments which in all material respects is are the same as the form attached hereto as Addendum 1. A. The collateral assignment of the a Policy to the Company Corporation hereunder shall not be terminated, altered or amended by the Owner, without the express written consent of the CompanyCorporation. The parties hereto agree to take all action necessary to cause the each collateral assignment to conform to the provisions of this Agreement. In the event of any inconsistency between the terms of this Agreement and the terms of the a collateral assignment, the terms of this Agreement shall control.