Common use of Covenants of Assignee Clause in Contracts

Covenants of Assignee. The Assignee covenants as follows: a. Any balance of sums that may be received hereunder from the Insurer remaining after payment to the Assignee as provided in the Agreement in the event the Agreement is terminated will be paid by the Assignee to the persons who would be entitled thereto under the terms of the Policy had this Assignment not been executed. b. Following the occurrence of a Restricting Event, the Assignee will, upon request, forward the Policy without unreasonable delay to the Insurer for endorsement of any designation or change of beneficiary, or any election of an optional mode of settlement.

Covenants of Assignee. The Assignee covenants as follows: a. Any balance of sums that may be received hereunder from the Insurer remaining after payment to the Assignee as provided in the Agreement in the event the Agreement is terminated will be paid by the Assignee to the persons who would be entitled thereto under the terms of the Policy had this Assignment not been executed. b. Following the occurrence of a Restricting Event, the The Assignee will, upon request, forward the Policy without unreasonable delay to the Insurer for endorsement of any designation or change of beneficiary, or any election of an optional mode of settlement.