Assignment of Specific Accounts as Security

This Assignment of Specific Accounts as Security will assign a party’s specific accounts and book debts to another party (the “Assignee”). In this Assignment the party making the assignment (the “Assignor”) assigns all amounts due under these specific accounts to the assignee as general and continuing collateral security for all existing or future indebtedness owed by Assignor. This Assignment sets out the specific terms of the arrangement including a detailed list of assigned accounts. It is imperative that this type of transaction be clearly set out in writing. A written Assignment of Specific Accounts as Security will be important if there are disputes or misunderstandings between the parties regarding the security. (continued ...)