Common use of Contract Right Clause in Contracts

Contract Right. any right of Borrower to payment under a contract for the sale or lease of goods or the rendering of services, which right is at the time not yet earned by performance. Credit Insurance - at any date means a policy of credit insurance obtained by the Borrower issued by a reputable insurance carrier acceptable to Lender in its sole discretion and with respect to which Lender has approved any deductible insured percentage, credit limit or policy limit of liability, country limit of liability, non-qualifying loss amount or other limitation on claims and which Credit Insurance has been assigned to the Lender as additional collateral for the Loans.