The Seller, Buyer and Assignee hereby agree that:
1) Assignee has extended a loan (“the Loan”) to Seller to prefinance the Contracts,
2) Assignee extended the Loan in reliance upon Seller’s assignment to Assignee of payments under the Contract(s),
3) The Seller hereby assigns to Assignee the payments due to Seller in respect of the Contracts listed above,
4) When payment becomes due by Buyer under the Contract(s), Buyer agrees irrevocably to pay 100% of the amounts due to the Seller under each of the above Contract(s) direct¬ly to the fol¬low¬ing ac¬count of the Assignee