Common use of Assignment of Insurance Clause in Contracts

Assignment of Insurance. As additional security for the Indebtedness, Company hereby assigns to W▇▇▇▇ Fargo and to W▇▇▇▇ Fargo Merchant Services, L.L.C., all rights of Company under every policy of insurance covering the Collateral and all business records and other documents relating to it, and all monies (including proceeds and refunds) that may be payable under any policy, and Company hereby directs the issuer of each policy to pay all such monies directly to W▇▇▇▇ Fargo. At any time, whether or not a Default Period then exists, W▇▇▇▇ Fargo may (but need not), in W▇▇▇▇ Fargo’s or Company’s name, execute and deliver proofs of claim, receive payment of proceeds and endorse checks and other instruments representing payment of the policy of insurance, and adjust, litigate, compromise or release claims against the issuer of any policy. Any monies received under any insurance policy assigned to W▇▇▇▇ Fargo, other than liability insurance policies, or received as payment of any award or compensation for condemnation or taking by eminent domain, shall be paid to W▇▇▇▇ Fargo and, as determined by W▇▇▇▇ Fargo in its sole discretion, either be applied to prepayment of the Indebtedness or disbursed to Company under staged payment terms reasonably satisfactory to W▇▇▇▇ Fargo for application to the cost of repairs, replacements, or restorations which shall be effected with reasonable promptness and shall be of a value at least equal to the value of the items or property destroyed.

Assignment of Insurance. As additional security for the IndebtednessObligations, Company Borrower hereby assigns to W▇▇▇▇ Fargo and to W▇▇▇▇ Fargo Merchant Services, L.L.C., Lender all rights of Company Borrower under every policy of insurance covering the Collateral and all business records and other documents relating to it, and all monies (including proceeds and refunds) that may be payable under any policy, and Company Borrower hereby directs the issuer of each policy to pay all such monies directly to W▇▇▇▇ FargoLender. At any time, whether or not a an Event of Default Period then exists, W▇▇▇▇ Fargo Lender may (but need not), in W▇▇▇▇ FargoLender’s or CompanyBorrower’s name, execute and deliver proofs of claim, receive payment of proceeds and endorse checks and other instruments representing payment of the policy of insurance, and if an Event of Default then exists and is continuing, Lender may adjust, litigate, compromise or release claims against the issuer of any policy. Any monies received under any insurance policy assigned to W▇▇▇▇ FargoLender, other than liability insurance policies, or received as payment of any award or compensation for condemnation or taking by eminent domain, shall be paid to W▇▇▇▇ Fargo Lender and, as determined by W▇▇▇▇ Fargo Lender in its sole discretion, either be applied to prepayment of the Indebtedness Obligations or disbursed to Company Borrower under staged payment terms reasonably satisfactory to W▇▇▇▇ Fargo Lender for application to the cost of repairs, replacements, or restorations which shall be effected with reasonable promptness and shall be of a value at least equal to the value of the items or property destroyed.

Assignment of Insurance. As additional security for the Indebtedness, Company hereby assigns to W▇▇▇▇▇ Fargo and to W▇▇▇▇▇ Fargo Merchant Services, L.L.C., all rights of Company under every policy of insurance covering the Collateral and all business records and other documents relating to it, and all monies (including proceeds and refunds) that may be payable under any policy, and Company hereby directs the issuer of each policy to pay all such monies directly to W▇▇▇▇▇ Fargo. At any time, whether or not a Default Period then exists, W▇▇▇▇▇ Fargo may (but need not), in W▇▇▇▇▇ Fargo’s or Company’s name, execute and deliver proofs of claim, receive payment of proceeds and endorse checks and other instruments representing payment of the policy of insurance, and adjust, litigate, compromise or release claims against the issuer of any policy. Any monies received under any insurance policy assigned to W▇▇▇▇▇ Fargo, other than liability insurance policies, or received as payment of any award or compensation for condemnation or taking by eminent domain, shall be paid to W▇▇▇▇▇ Fargo and, as determined by W▇▇▇▇▇ Fargo in its sole discretion, either be applied to prepayment of the Indebtedness or disbursed to Company under staged payment terms reasonably satisfactory to W▇▇▇▇▇ Fargo for application to the cost of repairs, replacements, or restorations which shall be effected with reasonable promptness and shall be of a value at least equal to the value of the items or property destroyed.

Assignment of Insurance. As additional security for the Indebtedness, each Company hereby assigns to W▇▇▇▇▇ Fargo and to W▇▇▇▇▇ Fargo Merchant Services, L.L.C., all rights of each Company under every policy of insurance covering the Collateral and all business records and other documents relating to it, and all monies (including proceeds and refunds) that may be payable under any policy, and each Company hereby directs the issuer of each policy to pay all such monies directly to W▇▇▇▇▇ Fargo. At any time, whether or not a Default Period then exists, W▇▇▇▇▇ Fargo may (but need not), in W▇▇▇▇▇ Fargo’s or any Company’s name, execute and deliver proofs of claim, receive payment of proceeds and endorse checks and other instruments representing payment of the policy of insurance, and adjust, litigate, compromise or release claims against the issuer of any policy. Any monies received under any insurance policy assigned to W▇▇▇▇▇ Fargo, other than liability insurance policies, or received as payment of any award or compensation for condemnation or taking by eminent domain, shall be paid to W▇▇▇▇▇ Fargo and, as determined by W▇▇▇▇▇ Fargo in its sole discretion, either be applied to prepayment of the Indebtedness or disbursed to a Company under staged payment terms reasonably satisfactory to W▇▇▇▇▇ Fargo for application to the cost of repairs, replacements, or restorations which shall be effected with reasonable promptness and shall be of a value at least equal to the value of the items or property destroyed.

Assignment of Insurance. As additional security for the Indebtedness, Company hereby assigns to W▇▇▇▇▇ Fargo and to W▇▇▇▇▇ Fargo Merchant Services, L.L.C., L.L.C. all rights of Company under every policy of insurance covering the Collateral and all business records and other documents relating to it, and all monies (including proceeds and refunds) that may be payable under any policy, and Company hereby directs the issuer of each policy to pay all such monies directly to W▇▇▇▇▇ Fargo. At any time, whether or not a Default Period then exists, W▇▇▇▇▇ Fargo may (but need not), in W▇▇▇▇▇ Fargo’s or Company’s name, execute and deliver proofs of claim, receive payment of proceeds and endorse checks and other instruments representing payment of the policy of insurance, and adjust, litigate, compromise or release claims against the issuer of any policy. Any monies received under any insurance policy assigned to W▇▇▇▇▇ Fargo, other than liability insurance policies, or received as payment of any award or compensation for condemnation or taking by eminent domain, shall be paid to W▇▇▇▇▇ Fargo and, as determined by W▇▇▇▇▇ Fargo in its sole discretion, either be applied to prepayment of the Indebtedness or disbursed to Company under staged payment terms reasonably satisfactory to W▇▇▇▇▇ Fargo for application to the cost of repairs, replacements, or restorations which shall be effected with reasonable promptness and shall be of a value at least equal to the value of the items or property destroyed.

Assignment of Insurance. As additional security for the Indebtedness, Company each of Parent and ▇▇ ▇▇▇▇▇▇▇ hereby assigns to W▇▇▇▇▇ Fargo and to W▇▇▇▇▇ Fargo Merchant Services, L.L.C., all of its rights of Company under every policy of insurance covering the Collateral and all business records and other documents relating to it, and all monies (including without limitation all proceeds and refunds) that may be payable under any policy, and Company each of Parent and ▇▇ ▇▇▇▇▇▇▇ hereby directs the issuer of each policy to pay all such monies directly to W▇▇▇▇▇ Fargo. At any time, whether or not a Default Period then exists, W▇▇▇▇▇ Fargo may (but need not), in W▇▇▇▇▇ Fargo’s or Company’s name, execute and deliver proofs of claim, receive payment of proceeds and endorse checks and other instruments representing payment of the policy of insurance, and adjust, litigate, compromise or release claims against the issuer of any policy. Any monies received under any insurance policy assigned to W▇▇▇▇▇ Fargo, other than liability insurance policies, or received as payment of any award or compensation for condemnation or taking by eminent domain, shall be paid to W▇▇▇▇▇ Fargo and, as determined by W▇▇▇▇▇ Fargo in its sole discretion, either be applied to prepayment of the Indebtedness or disbursed to Company under staged payment terms reasonably satisfactory to W▇▇▇▇▇ Fargo for application to the cost of repairs, replacements, or restorations which shall be effected with reasonable promptness and shall be of a value at least equal to the value of the items or property destroyed.

Assignment of Insurance. As additional security for the Indebtedness, Company hereby assigns to W▇▇▇▇▇ Fargo and to W▇▇▇▇ Fargo Merchant Services, L.L.C., all rights of Company under every policy of insurance covering the Collateral and all business records and other documents relating to it, and all monies (including without limitation all proceeds and refunds) that may be payable under any policy, and Company hereby directs the issuer of each policy to pay all such monies directly to W▇▇▇▇▇ Fargo. At any time, whether or not a Default Period then exists, W▇▇▇▇▇ Fargo may (but need not), in W▇▇▇▇▇ Fargo’s or Company’s name, execute and deliver proofs of claim, receive payment of proceeds and endorse checks and other instruments representing payment of the policy of insurance, and adjust, litigate, compromise or release claims against the issuer of any policy. Any monies received under any insurance policy assigned to W▇▇▇▇▇ Fargo, other than liability insurance policies, or received as payment of any award or compensation for condemnation or taking by eminent domain, shall be paid to W▇▇▇▇▇ Fargo and, as determined by W▇▇▇▇▇ Fargo in its sole discretion, either be applied to prepayment of the Indebtedness or disbursed to Company under staged payment terms reasonably satisfactory to W▇▇▇▇▇ Fargo for application to the cost of repairs, replacements, or restorations which shall be effected with reasonable promptness and shall be of a value at least equal to the value of the items or property destroyed.

Assignment of Insurance. As additional security for the Indebtedness, Company hereby assigns to W▇▇▇▇ Fargo and to W▇▇▇▇ Fargo Merchant Services, L.L.C., all rights of Company under every policy of insurance covering the Collateral and all business records and other documents relating to it, and all monies (including without limitation all proceeds and refunds) that may be payable under any policy, subject to contractual rights of landlords, customers and vendors incurred in the ordinary course of business, and Company hereby directs the issuer of each policy to pay all such monies directly to W▇▇▇▇ Fargo. At any time, whether or not a Default Period then exists, W▇▇▇▇ Fargo may (but need not), in W▇▇▇▇ Fargo’s 's or Company’s 's name, execute and deliver proofs of claim, receive payment of proceeds and endorse checks and other instruments representing payment of the policy of insurance, and adjust, litigate, compromise or release claims against the issuer of any policy. Any monies received under any insurance policy assigned to W▇▇▇▇ Fargo, other than liability insurance policies, or received as payment of any award or compensation for condemnation or taking by eminent domain, shall be paid to W▇▇▇▇ Fargo and, as determined by W▇▇▇▇ Fargo in its sole discretion, either be applied to prepayment of the Indebtedness or disbursed to Company under staged payment terms reasonably satisfactory to W▇▇▇▇ Fargo for application to the cost of repairs, replacements, or restorations which shall be effected with reasonable promptness and shall be of a value at least equal to the value of the items or property destroyed.

Assignment of Insurance. As additional security for the Indebtedness, Company hereby assigns to W▇▇▇▇▇ Fargo and to W▇▇▇▇ Fargo Merchant Services, L.L.C.Fargo, all rights of Company under every policy of insurance covering the Collateral and all business records and other documents relating to it, and all monies (including proceeds and refunds) that may be payable under any policy, and Company hereby directs the issuer of each policy to pay all such monies directly to W▇▇▇▇▇ Fargo; provided however that if any such monies are less than $50,000 for any loss and no Default Period then exists, such monies may be paid directly to the Company to be applied to repair and restore such damage or loss unless agreed by ▇▇▇▇▇ Fargo in an Authenticated Record that the proceeds be paid on account of the Revolving Note. At In connection with a claim in excess of $50,000 at any time, whether or not a Default Period then exists, W▇▇▇▇▇ Fargo may (but need not), in W▇▇▇▇▇ Fargo’s or Company’s name, execute and deliver proofs of claim, receive payment of proceeds and endorse checks and other instruments representing payment of the policy of insurance, and adjust, litigate, compromise or release claims against the issuer of any policy. Any monies received under any insurance policy assigned to W▇▇▇▇▇ Fargo, other than liability insurance policies, or received as payment of any award or compensation for condemnation or taking by eminent domain, shall be paid to W▇▇▇▇▇ Fargo and, as determined by W▇▇▇▇▇ Fargo in its sole discretion, either be applied to prepayment of the Indebtedness or disbursed to Company under staged payment terms reasonably satisfactory to W▇▇▇▇▇ Fargo for application to the cost of repairs, replacements, or restorations which shall be effected with reasonable promptness and shall be of a value at least equal to the value of the items or property destroyed.

Assignment of Insurance. As additional security for the Indebtedness, Company hereby assigns to W▇▇▇▇ Fargo and to W▇▇▇▇ Fargo Merchant Services, L.L.C., all rights of Company under every policy of insurance covering the Collateral and all business records and other documents relating to it, and all monies (including proceeds and refunds) that may be payable under any policy, and Company hereby directs the issuer of each policy to pay all such monies directly to W▇▇▇▇ Fargo. At any time, whether or not a Default Period then exists, W▇▇▇▇ Fargo may (but need not), in W▇▇▇▇ Fargo’s 's or Company’s 's name, execute and deliver proofs of claim, receive payment of proceeds and endorse checks and other instruments representing payment of the policy of insurance, and adjust, litigate, compromise or release claims against the issuer of any policy. Any monies received under any insurance policy assigned to W▇▇▇▇ Fargo, other than liability insurance policies, or received as payment of any award or compensation for condemnation or taking by eminent domain, shall be paid to W▇▇▇▇ Fargo and, as determined by W▇▇▇▇ Fargo in its sole discretion, either be applied to prepayment of the Indebtedness or disbursed to Company under staged payment terms reasonably satisfactory to W▇▇▇▇ Fargo for application to the cost of repairs, replacements, or restorations which shall be effected with reasonable promptness and shall be of a value at least equal to the value of the items or property destroyed.

Assignment of Insurance. As additional security for the Indebtedness, Company Borrower hereby assigns to W▇▇▇▇▇ Fargo and to W▇▇▇▇▇ Fargo Merchant Services, L.L.C., all rights of Company Borrower under every policy of insurance covering the Collateral and all business records and other documents relating to it, and all monies (including proceeds and refunds) that may be payable under any policy, and Company Borrower hereby directs the issuer of each policy to pay all such monies directly to W▇▇▇▇▇ Fargo. At During any timeDefault Period, whether or not a Default Period then exists, W▇▇▇▇▇ Fargo may (but need not), in W▇▇▇▇▇ Fargo’s or CompanyBorrower’s name, execute and deliver proofs of claim, receive payment of proceeds and endorse checks and other instruments representing payment of the policy of insurance, and adjust, litigate, compromise or release claims against the issuer of any policy. Any monies received under any insurance policy assigned to W▇▇▇▇▇ Fargo, other than liability or workers’ compensation insurance policies, or received as payment of any award or compensation for condemnation or taking by eminent domain, shall be paid to W▇▇▇▇▇ Fargo and, as determined by W▇▇▇▇▇ Fargo in its sole discretion, either be applied to prepayment of the Indebtedness or disbursed to Company under staged payment terms reasonably satisfactory to W▇▇▇▇ Fargo for application to the cost of repairs, replacements, or restorations which shall be effected with reasonable promptness and shall be of a value at least equal to the value of the items or property destroyedBorrower.

Assignment of Insurance. As additional security for the Indebtedness, each Company hereby assigns to W▇▇▇▇ Fargo and to W▇▇▇▇ Fargo Merchant Services, L.L.C., all rights of such Company under every policy of insurance covering the Collateral and all business records and other documents relating to it, and all monies (including without limitation all proceeds and refunds) that may be payable under any policy, and each Company hereby directs the issuer of each policy to pay all such monies directly to W▇▇▇▇ Fargo. At any time, whether or not a Default Period then exists, W▇▇▇▇ Fargo may (but need not), in W▇▇▇▇ Fargo’s 's or any Company’s 's name, execute and deliver proofs of claim, receive payment of proceeds and endorse checks and other instruments representing payment of the policy of insurance, and adjust, litigate, compromise or release claims against the issuer of any policy. Any monies received under any insurance policy assigned to W▇▇▇▇ Fargo, other than liability insurance policies, or received as payment of any award or compensation for condemnation or taking by eminent domain, shall be paid to W▇▇▇▇ Fargo and, as determined by W▇▇▇▇ Fargo in its sole discretion, either be applied to prepayment of the Indebtedness or disbursed to such Company under staged payment terms reasonably satisfactory to W▇▇▇▇ Fargo for application to the cost of repairs, replacements, or restorations which shall be effected with reasonable promptness and shall be of a value at least equal to the value of the items or property destroyed.

Assignment of Insurance. As additional security for the Indebtedness, Company hereby assigns to W▇▇▇▇▇ Fargo and to W▇▇▇▇ Fargo Merchant Services, L.L.C., all rights of Company under every policy of insurance covering the Collateral and all business records and other documents relating to it, and all monies (including proceeds and refunds) that may be payable under any policy, and Company hereby directs the issuer of each policy to pay all such monies directly to W▇▇▇▇▇ Fargo. At any time, whether or not a Default Period then exists, W▇▇▇▇▇ Fargo may (but need not), in W▇▇▇▇▇ Fargo’s or Company’s name, execute and deliver proofs of claim, receive payment of proceeds and endorse checks and other instruments representing payment of the policy of insurance, and adjust, litigate, compromise or release claims against the issuer of any policy. Any monies in excess of $25,000 received under any insurance policy assigned to W▇▇▇▇▇ Fargo, other than liability insurance policies, or received as payment of any award or compensation for condemnation or taking by eminent domain, shall be paid to W▇▇▇▇▇ Fargo and, as determined by W▇▇▇▇▇ Fargo in its sole discretion, either be applied to prepayment of the Indebtedness or disbursed to Company under staged payment terms reasonably satisfactory to W▇▇▇▇▇ Fargo for application to the cost of repairs, replacements, or restorations which shall be effected with reasonable promptness and shall be of a value at least equal to the value of the items or property destroyed.

Assignment of Insurance. As additional security for the Indebtedness, Company hereby assigns to W▇▇▇▇▇ Fargo and to W▇▇▇▇▇ Fargo Merchant Services, L.L.C., all rights of Company under every policy of insurance covering the Collateral and all business records and other documents relating to it, and all monies (including proceeds and refunds) that may be payable under any policy, and Company hereby directs the issuer of each policy to pay all such monies directly to W▇▇▇▇▇ Fargo, up to the then current balance of the Indebtedness outstanding. At any time, whether or not a Default Period then exists, W▇▇▇▇▇ Fargo may (but need not), in W▇▇▇▇▇ Fargo’s or Company’s name, execute and deliver proofs of claim, receive payment of proceeds proceeds, up to the then current balance of the Indebtedness outstanding, and endorse checks and other instruments representing payment of the policy of insurance, and and, during a Default Period, in a commercially reasonable manner, adjust, litigate, compromise or release claims against the issuer of any policy. Any monies received under any insurance policy assigned to W▇▇▇▇▇ Fargo, other than liability insurance policies, or received as payment of any award or compensation for condemnation or taking by eminent domain, shall be paid to W▇▇▇▇▇ Fargo Fargo, up to the then current balance of the Indebtedness outstanding, and, as determined by W▇▇▇▇▇ Fargo in its sole discretion, either be applied to prepayment of the Indebtedness up to the then current balance of the Indebtedness outstanding, or disbursed to Company under staged payment terms reasonably satisfactory to W▇▇▇▇▇ Fargo for application to the cost of repairs, replacements, or restorations which shall be effected with reasonable promptness and shall be of a value at least equal to the value of the items or property destroyed.