Payments to Assignor Clause Samples
The "Payments to Assignor" clause defines the obligations regarding monetary payments that must be made to the assignor under an agreement. Typically, this clause outlines the timing, method, and conditions under which the assignor is entitled to receive payments, such as proceeds from an assigned contract or compensation for transferred rights. For example, it may specify that all future payments due under an assigned lease or contract are to be remitted directly to the assignor until a certain date or event. The core function of this clause is to ensure that the assignor receives the agreed-upon financial consideration, thereby preventing disputes over payment responsibilities after an assignment.
Payments to Assignor. In consideration of the assignment made pursuant to Paragraph 1 of this Agreement, Assignee agrees to pay to Assignor on the Assignment Date, an amount equal to $ representing the aggregate principal amount outstanding of the Revolving Credit Loans owing to Assignor under the Loan Agreement and the other Loan Documents with respect to the Assigned Interests.
Payments to Assignor. In consideration of the assignment made pursuant to Paragraph 1 of this Agreement, Assignee agrees to pay to Assignor on the Assignment Date, an amount equal to $________________ representing the aggregate principal amount outstanding of the Loans under the Revolving Credit Agreement and the other Loan Documents with respect to the Assigned Interests. All outstanding LIBOR Rate Loans shall continue in effect for the remainder of their applicable Interest Periods and Assignee shall accept the currently effective interest rates on its Assigned Interest of each LIBOR Rate Loan.
Payments to Assignor. In consideration of the assignment made pursuant to Paragraph 1 of this Agreement, Assignee agrees to pay to Assignor on the Assignment Date, an amount equal to $____________ representing the Dollar Equivalent of the aggregate principal amount outstanding of the [U.S. Dollar Revolving Credit Loans] [Alternative Currency/Dollar Revolving Credit Loans] [Bid Loans] [Term Loans A] [Term Loans B] [Term Loans C] owing to Assignor under the Credit Agreement and the other Loan Documents with respect to the Assigned Interests.