An assignment of claims clause allows one party in a contract to transfer their right to receive payment or benefits under the contract to a third party, typically known as the assignee. This clause is often used to ensure financial flexibility and liquidity by enabling the original party to leverage their contractual rights for financing or business transactions.
Assignment of Claims. our company may assign in the future all or part of the loan claims hereunder to another financial institution (including trusts hereinafter in this article). The Obligor confirms that even after such assignment of claims, the provisions of the Agreement on Banking Transactions, and this agreement between the Obligor and your company will remain applicable.
ASSIGNMENT OF CLAIMS AGREEMENT This Assignment of Claims Agreement (this “Agreement”) is made and entered into as of the 30 day of September, 2019 (the “Effective Date”), by and between GlassBridge Enterprises, Inc., a Delaware corporation (“Assignor”), and Imation Enterprises Corp., a Delaware corporation (“Assignee”).
“Government Accounts Assignment Condition” means the execution by the Company of a Notice of Assignment and an Instrument of Assignment with respect to the contract underlying such Government Account and any other agreements, instruments and documents and the performance by the Company of all acts that Aron may reasonably require to ensure compliance with the Assignment of Claims Act (or any other similar state laws).
Assignment of Claims. 1. Resona may assign (for purposes of this Article, including entrustment) all or a portion of the loan claims under this Agreement to another financial institution or the like in the future. Borrower acknowledges that each provision of the banking transaction agreement between Borrower and Resona and each provision of this Agreement will continue to apply even after the assignment of claims. 2. Borrower agrees that, during the period for which Resona is entrusted by the assignee (for purposes of this Article, including trust beneficiaries) with respect to a claim that Resona has assigned under the preceding paragraph, Resona will perform debt management and collection under this Agreement as an agent for the assignee. 3. In cases where a claim under this Agreement is guaranteed by a credit guarantee corporation, when Resona assigns a claim pursuant to paragraph 1, Resona shall obtain the approval of the credit guarantee corporation in advance.
Assignment of Claims. Within five business days after the full performance of the obligations contained in Section A, the Founders Parties will deliver two fully executed originals of the assignment of claims attached as Exhibit C. The assignment of claims will be delivered to LeBlanc Law PC, 1111 North Loop West, Suite 705, Houston, Texas 77008.
Assignment of claims. (1) Party A agrees in advance that Party B will in the future transfer all or part of the loan claims to another financial institution. Party A confirms that, even after the assignment of claims, the provisions of the bank transaction agreement between the parties hereto and the provisions of this agreement will continue to apply. (2) Party A consents that, regarding the claims assigned by Party B in the preceding paragraph, during the period that Party B is entrusted by the assignee, Party B will perform claim management and collection under this agreement as the agent of the assignee. (3) When the claims under this agreement use a guarantee by the Credit Guarantee Corporation, Party B will, in accordance with the provisions of paragraph 1, obtain approval in advance from the Credit Guarantee Corporation when assigning the claims.
“Assignment of Claims Act” means the Assignment of Claims Act of 1940 (41 U.S.C. Section 15, 31 U.S.C. Section 3737, and 31 U.S.C. Section 3727), including all amendments thereto and regulations promulgated thereunder.
No Assignment of Claims. Neither ACLP, nor any other ACLP Releasor, nor anyone acting on any of their behalves, has ever sold, assigned, transferred, conveyed or otherwise disposed of all or any part of the ACLP Released Claims released thereby hereunder, whether known or unknown.
No Assignment of Claims. Executive affirms and warrants that he has made no assignment of any right or interest in any claim which he may have against any of the Employer Released Parties.
Non-Assignment of Claims to Third-Party. By execution of this Agreement, each of the Parties hereby covenants and warrants that no claim, right or cause of action that they may now have or have had in the past against each other Party and/or the entities or persons set forth in the preceding release paragraphs, has previously been conveyed, assigned or in any manner transferred, in whole or in part, to any third-party. The Parties expressly represent, covenant, and warrant that they have full authority to release all claims that they may now have or may have had in the past concerning the Lawsuit or claims which may have been brought therein.
Assignment of Claims. Each Grantor shall execute and deliver an assignment of claims agreement, in form and substance reasonable satisfactory to the Purchaser, with respect to all litigation claims held by such Grantor (including all Commercial Tort Claims), which shall be amended together with any amendment pursuant to Section 4.15.
Non-Assignment of Claims. Moore represents and warrants that he has not assigned or otherwise transferred any interest in any claim that is the subject of this Agreement.
No Assignment of Claims. Each set of parties represents and warrants to the other that it has not heretofore assigned or transferred, or purported to assign or transfer to any person or entity any claims that it might have against the other.
No Assignment of Claims. McLeer represents and warrants that he has not previously assigned or transferred, or attempted to assign or transfer, to any third party, any of the Claims waived and released herein.
Assignment of Claims under Subscription Agreements. (a) Section 8(f) of the Subscription Agreements, dated as of October 24, 2021, by and between BRPM and the subscribers party thereto (each, a “Subscription Agreement”, and collectively, the “Subscription Agreements”), provides, among other things, that neither the Subscription Agreements nor any rights that may accrue to BRPM thereunder may be transferred or assigned by BRPM without the prior written consent by the subscribers in the PIPE Investment (the “PIPE Subscribers”) or FaZe, other than in connection with the transactions contemplated by the Merger Agreement. The parties hereto acknowledge that the PIPE Investment is specifically contemplated under the terms of the Merger Agreement, including Sections 6.13 and 8.9 thereof. In accordance with Section 8(f) of the Subscription Agreement, contingent upon, and in consideration for, the Sponsor funding the Closing Backstop, BRPM hereby transfers, conveys, assigns and delivers to the Sponsor and any of the Sponsor’s assignees as contemplated in Section 4(c) herein, and the Sponsor hereby accepts, acquires and assumes from BRPM, all of BRPM’s present and future rights, title and interest in, to and under the Subscription Agreements of Third Party PIPE Subscribers who did not satisfy their obligations under their respective Subscription Agreements (the “Breaching PIPE Subscribers”). Solely at its own cost and expense, subject to the immediately following sentence, the Sponsor shall use its commercially reasonable efforts to take, or to cause to be taken, such actions as the Sponsor deems to be proper or advisable to consummate the transactions contemplated by the Subscription Agreements on the terms described therein, including to enforce its rights under the Subscription Agreements against the Breaching PIPE Investors. The Sponsor shall keep New FaZe reasonably informed with respect to the status of the actions taken in connection with the immediately preceding sentence.
The assignment of claims refers to the legal transfer of a right or interest in a contract or claim from one party (the assignor) to another (the assignee). This process allows the assignee to step into the shoes of the assignor with respect to the claim, effectively taking over all associated rights and obligations. It is commonly used in scenarios where it is beneficial or necessary to transfer financial interests to another party.
You should consider using an assignment of claims in situations such as:
Writing an assignment of claims document typically involves several key elements:
Example:
This Assignment of Claim, made and entered into on [date], between [Assignor’s Name] and [Assignee’s Name], pertains to [describe the claim]. For valuable consideration, the receipt and adequacy of which is hereby acknowledged, the Assignor hereby assigns all rights, title, and interest in the said claim to the Assignee.
Contracts that may commonly include an assignment of claims clause or be subject to an assignment of claims include:
Understanding the use and implications of assignment of claims can facilitate smooth transitions and uphold contractual obligations in various legal and business contexts.
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Dive deeper into the world of clauses and learn more about these other clauses that are used in real contracts.
The "Assignment of Rents" clause is a contractual provision frequently found in mortgages or deeds of trust, allowing the lender to take possession of rental income generated by the mortgaged property in the event of borrower default. Essentially, it serves as additional security for the lender, ensuring they have a means of income should the property owner fail to meet their mortgage obligations.
The "Assignment of Security Interest" clause outlines the conditions under which a party to a contract can transfer their security interest in a collateral to another party, allowing the transferee to assume the rights and obligations associated with that interest. This clause ensures that any assignment is conducted in accordance with the agreement's terms and applicable laws, protecting the interests of all parties involved.
An assignment clause in a contract outlines the conditions under which one party may transfer its rights or obligations to another party. It typically specifies whether prior consent is required for such a transfer and identifies any exceptions to these requirements.
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