Common use of Payments Assigned Clause in Contracts

Payments Assigned. The City, under the Bond Purchase Agreement and the Assignment, has assigned the City’s rights, title, and interest in the Pledged Receipts to the Purchaser, and the Company hereby consents to such assignment. All payments by the Company constituting Pledged Receipts under this Lease Agreement shall be in lawful coin or currency of the United States of America in immediately available funds. The Company further agrees to make all payments hereunder directly to the Servicing Agent, for the account of the City, to be deposited in the Bond Fund (or if the Servicing Agent is the Purchaser, directly to the Purchaser), and to make all payments required to be made under Section 7.02 hereof directly to the City. All such payments, if agreed to by all parties, may be made by appropriate intercompany accounting entries.