Common use of Deposits to Lock-Box Accounts Clause in Contracts

Deposits to Lock-Box Accounts. The Seller will (or will arrange pursuant to the Secondary Purchase Agreement for each Originator to) instruct all Obligors to remit all their payments in respect of Transferred Receivables to Lock-Box Accounts. If the Seller shall receive any Collections directly, it shall immediately (and in any event within two Business Days) deposit the same to a Lock-Box Account. The Seller will not deposit or otherwise credit, or cause or permit to be so deposited or credited, to any Lock-Box Account cash or cash proceeds other than Collections of Transferred Receivables, except to the extent that (i) such deposits or credits are permitted pursuant to Section 5.01(h) of the RIPA and (ii) any Out-of-Program Collections submitted to each Lock-Box Account shall be identifiable to the satisfaction of the Purchaser in its sole discretion. If any Out-of-Program Collections are deposited or credited to any Lock-Box Account, the Seller shall transfer such Out-of-Program Collections to an account of the Seller other than the Lock-Box Accounts, or shall cause such Out-of-Program Collections to be so transferred, promptly and in any event within two Business Days of the deposit or credit thereof to the applicable Lock-Box Account.

Deposits to Lock-Box Accounts. The Seller will (or will arrange pursuant to the Secondary Purchase Agreement for each Originator to) instruct all Obligors to remit all their payments in respect of Transferred Receivables to Lock-Box Accounts. If the Seller shall receive any Collections directly, it shall immediately (and in any event within two Business Days) deposit the same to a Lock-Box Account. The Seller will not deposit or otherwise credit, or cause or permit to be so deposited or credited, to any Lock-Box Account cash or cash proceeds other than Collections of Transferred Receivables, except to the extent that (i) such deposits or credits are permitted pursuant to Section 5.01(h) of the RIPA and (ii) any Out-of-Program Collections submitted to each Lock-Box Account shall be identifiable to the satisfaction of the Purchaser in its sole discretion. If any Out-of-Program Collections are deposited or credited to any Lock-Box Account, the Seller shall transfer such Out-of-Program Collections to an account of the Seller other than the Lock-Box Accounts, or shall cause such Out-of-Program Collections to be so transferred, promptly and in any event within two Business Days of the deposit or credit thereof to the applicable Lock-Box Account.

Deposits to Lock-Box Accounts. The Each Seller will (or will arrange pursuant to the Secondary Purchase Agreement for each Originator to) instruct all Obligors to remit all their payments in respect of Transferred Receivables to Lock-Box Accounts. If the such Seller shall receive any Collections directly, it shall immediately (and in any event within two Business Days) deposit the same to a Lock-Box Account. The No Seller will not deposit or otherwise credit, or cause or permit to be so deposited or credited, to any Lock-Box Account cash or cash proceeds other than Collections of Transferred Receivables, except to the extent that (i) such deposits or credits are permitted pursuant to Section 5.01(h) of the RIPA and (ii) any Out-of-Program Collections submitted to each Lock-Box Account shall be identifiable to the satisfaction of the Purchaser in its sole discretion. If any Out-of-Program Collections are deposited or credited to any Lock-Box Account, the such Seller shall transfer such Out-of-Program Collections to an account of the such Seller other than the Lock-Box Accounts, or shall cause such Out-of-Program Collections to be so transferred, promptly and in any event within two Business Days of the deposit or credit thereof to the applicable Lock-Box Account.

Deposits to Lock-Box Accounts. The Seller will (or will arrange pursuant to the Secondary Initial Purchase Agreement for each Originator Trane U.S. to) instruct all Obligors to remit all their payments in respect of Transferred Receivables to Lock-Box Accounts. If the Seller shall receive any Collections directly, it shall immediately (and in any event within two Business Days) deposit the same to a Lock-Box Account. The Seller will not deposit or otherwise credit, or cause or permit to be so deposited or credited, to any Lock-Box Account cash or cash proceeds other than Collections of Transferred Receivables, except to the extent that (i) such deposits or credits are permitted pursuant to Section 5.01(h) of the RIPA and (ii) any Out-of-Program Collections submitted to each Lock-Box Account shall be identifiable to the satisfaction of the Purchaser in its sole discretion. If any Out-of-Program Collections are deposited or credited to any Lock-Box Account, the Seller shall transfer such Out-of-Program Collections to an account of the Seller other than the Lock-Box Accounts, or shall cause such Out-of-Program Collections to be so transferred, promptly and in any event within two Business Days of the deposit or credit thereof to the applicable Lock-Box Account.

Deposits to Lock-Box Accounts. The Seller will (or will arrange pursuant to the Secondary Initial Purchase Agreement for each Originator Schlage to) instruct all Obligors to remit all their payments in respect of Transferred Receivables to Lock-Box Accounts. If the Seller shall receive any Collections directly, it shall immediately (and in any event within two Business Days) deposit the same to a Lock-Box Account. The Seller will not deposit or otherwise credit, or cause or permit to be so deposited or credited, to any Lock-Box Account cash or cash proceeds other than Collections of Transferred Receivables, except to the extent that (i) such deposits or credits are permitted pursuant to Section 5.01(h) of the RIPA and (ii) any Out-of-Program Collections submitted to each Lock-Box Account shall be identifiable to the satisfaction of the Purchaser in its sole discretion. If any Out-of-Program Collections are deposited or credited to any Lock-Box Account, the Seller shall transfer such Out-of-Program Collections to an account of the Seller other than the Lock-Box Accounts, or shall cause such Out-of-Program Collections to be so transferred, promptly and in any event within two Business Days of the deposit or credit thereof to the applicable Lock-Box Account.

Deposits to Lock-Box Accounts. The Seller will (or will arrange pursuant to the Secondary Initial Purchase Agreement for each Originator IR Company to) instruct all Obligors to remit all their payments in respect of Transferred Receivables to Lock-Box Accounts. If the Seller shall receive any Collections directly, it shall immediately (and in any event within two Business Days) deposit the same to a Lock-Box Account. The Seller will not deposit or otherwise credit, or cause or permit to be so deposited or credited, to any Lock-Box Account cash or cash proceeds other than Collections of Transferred Receivables, except to the extent that (i) such deposits or credits are permitted pursuant to Section 5.01(h) of the RIPA and (ii) any Out-of-Program Collections submitted to each Lock-Box Account shall be identifiable to the satisfaction of the Purchaser in its sole discretion. If any Out-of-Program Collections are deposited or credited to any Lock-Box Account, the Seller shall transfer such Out-of-Program Collections to an account of the Seller other than the Lock-Box Accounts, or shall cause such Out-of-Program Collections to be so transferred, promptly and in any event within two Business Days of the deposit or credit thereof to the applicable Lock-Box Account.