Common use of Lock Box Account Clause in Contracts

Lock Box Account. On or before the Closing Date, one or more deposit accounts for the Borrower, which shall be Eligible Accounts, shall be established at its Obligors’ sole cost and expense, or designated from existing accounts of the Borrower’s Obligors, in either case with the Collateral Agent as secured party thereunder (with respect to the Borrower, said accounts, and any accounts replacing same in accordance with this Loan Agreement and the Lock-Box Account Agreement, collectively, its “Lock-Box Account”) with one or more financial institutions reasonably approved by the Administrative Agent (collectively, the “Deposit Bank”), pursuant to one or more agreements (collectively, the “Lock-Box Account Agreement”) in form and substance reasonably acceptable to the Administrative Agent, and the Collateral Agent to be executed and delivered by the Borrower and its related Obligors and the Deposit Bank within 30 days of the date hereof. The Lock-Box Account shall be under the sole dominion and control of the Collateral Agent. Among other things, the Lock-Box Account Agreement shall provide that such Obligors shall have no access to or control over the Lock-Box Account, that all available funds on deposit in the Lock-Box Account shall be transferred by wire transfer (or transfer via the ACH System) on each Business Day of each calendar week (or if such day is not a Business day, the next such day that is a Business Day) by the Deposit Bank into the Collection Account, for application in accordance with this Loan Agreement. The Deposit Bank and the Collection Account Bank shall be directed to deliver to the Borrower and its related Obligors copies of bank statements and other information made available by the Deposit Bank and the Collection Account Bank concerning its Lock-Box Account and Collection Account, respectively.

Lock Box Account. On or before (a) No later than thirty-five (35) days after the Closing Date, one BVAC, as initial Servicer, shall establish the Lock-Box Account as an Eligible Account with the Lock-Box Bank and provide notice thereof to the Obligors of the Receivables, all in accordance with the terms of the Lock-Box Agreement; provided that the Servicer, with the prior written consent of the Insurer (so long as it is the Controlling Party), may from time to time (a) establish additional or more deposit accounts for the Borrowersubstitute Lock-Box Accounts, each of which shall be an Eligible AccountsAccount, and (b) close or terminate the use of such account or any subsequently established accounts, each of which accounts, at such time, shall no longer be established at its Obligors’ sole cost deemed to be a Lock-Box Account; provided, further, that pursuant to the Lock-Box Agreement, the Lock-Box Processor and expenseno other person, other than the Indenture Trustee or designated from existing accounts the Servicer, shall have authority to direct disposition of funds related to the Borrower’s Obligors, Receivables on deposit in either case the Lock-Box Account consistent with the Collateral Agent as secured party thereunder (with respect to the Borrower, said accounts, and any accounts replacing same in accordance with provisions of this Loan Agreement and the Lock-Box Account Agreement, collectively, its “. The Indenture Trustee shall have no liability or responsibility with respect to the Lock-Box Account”) with one Processor’s or more financial institutions reasonably approved by the Administrative Agent (collectively, Servicer’s directions or activities as set forth in the “Deposit Bank”), pursuant to one or more agreements (collectively, the “Lock-Box Account Agreement”) in form and substance reasonably acceptable to the Administrative Agent, and the Collateral Agent to be executed and delivered by the Borrower and its related Obligors and the Deposit Bank within 30 days of the date hereofpreceding sentence. The Lock-Box Account shall be under the sole dominion established pursuant to and control of the Collateral Agent. Among other things, maintained in accordance with the Lock-Box Account Agreement and shall provide that such Obligors shall have no access to or control over at all times be an Eligible Account. In conjunction with the establishment of the Lock-Box Account, that all available funds the Lock-box Processor, on deposit in behalf of BVAC, as initial Servicer, shall establish and maintain the Lock-Box Account shall be transferred by wire transfer (or transfer via the ACH System) on each Business Day of each calendar week (or if such day is not at a Business day, the next such day that is a Business Day) by the Deposit Bank into the Collection Account, for application United States Post Office Branch in accordance with this Loan Agreement. The Deposit Bank and the Collection Account Bank shall be directed to deliver to terms of the Borrower and its related Obligors copies of bank statements and other information made available by the Deposit Bank and the Collection Account Bank concerning its Lock-Box Account Agreement. Notwithstanding the Lock-Box Agreement or any of the Trust and Collection AccountServicing Agreement provisions of this Agreement relating to the Lock-Box and the Lock-Box Agreement, respectivelythe Servicer shall remain obligated and liable to the Indenture Trustee and the Noteholders for servicing and administering the Receivables and the other Trust Property in accordance with provisions of this Agreement without diminution of such obligation or liability by virtue thereof.

Lock Box Account. (i) On or before the Closing Date, the Servicer shall establish one or more deposit accounts for the Borrower, which shall be Eligible Accounts, shall be established at its Obligors’ sole cost and expense, or designated from existing accounts of the Borrower’s Obligors, in either case with the Collateral Agent as secured party thereunder (with respect to the Borrower, said accounts, and any accounts replacing same in accordance with this Loan Agreement and the Lock-Box Account Agreement, collectively, its the “Lock-Box Account”) with one at the expense of the Borrower or more an Affiliate of the Borrower, each of which shall be at PNC National Bank Association or another financial institutions reasonably approved by the Administrative Agent Majority Holders (collectively, the “Deposit Bank”), pursuant to one or more agreements (collectively, the “Lock-Box Account Agreement”) in form and substance reasonably acceptable to the Administrative Agent, Collateral Agent and the Collateral Agent Majority Holders to be executed and delivered by the Borrower Company and its related Obligors and the Deposit Bank within 30 days of on the date hereofClosing Date. The initial Lock-Box Account shall be an account held at PNC Bank, National Association and the initial Lock-Box Account Agreement shall be a deposit account control agreement entered into on the Closing Date by and among AP Wireless Investments I, LLC, as the customer, PNC Bank, National Association, as the bank and the Collateral Agent, as Secured Party. The Lock-Box Account shall be under the sole dominion and control of the Collateral Agent. Among other things, the Lock-Box Account Agreement shall provide that such Obligors shall have no access to or control over the Lock-Box Account, that all available funds on deposit in the Lock-Lock- Box Account shall be transferred by the Deposit Bank by wire transfer (or transfer via the ACH System) on each the Business Day following receipt of each calendar week (or if such day is not a Business day, the next such day that is a Business Day) by the Deposit Bank properly identified and available funds into the Collection Account, for application in accordance with this Loan Agreement. The Deposit Bank and the Collection Account Bank shall be directed to deliver to the Borrower Company and its related Obligors copies of bank statements and other information made available by the Deposit Bank and the Collection Account Bank concerning its Lock-Box Account and Collection Account, respectively.

Lock Box Account. On or before (a) No later than twenty (20) Business Days after the Closing Date, one BVAC, as initial Servicer, shall establish the Lock-Box Account as an Eligible Account with the Lock-Box Bank, all in accordance with the terms of the Lock-Box Agreement; provided that the Servicer, with the prior written consent of the Insurer (so long as it is the Controlling Party), may from time to time (a) establish additional or more deposit accounts for the Borrowersubstitute Lock-Box Accounts, each of which shall be an Eligible AccountsAccount, and (b) close or terminate the use of such account or any subsequently established accounts, each of which accounts, at such time, shall no longer be established at its Obligors’ sole cost deemed to be a Lock-Box Account; provided, further, that pursuant to the Lock-Box Agreement, the Lock-Box Processor and expenseno other person, save the Indenture Trustee or designated from existing accounts the Servicer, shall have authority to direct disposition of funds related to the Borrower’s Obligors, Receivables on deposit in either case the Lock-Box Account consistent with the Collateral Agent as secured party thereunder (with respect to the Borrower, said accounts, and any accounts replacing same in accordance with provisions of this Loan Agreement and the Lock-Box Account Agreement, collectively, its “. The Indenture Trustee shall have no liability or responsibility with respect to the Lock-Box Account”) with one Processor's or more financial institutions reasonably approved by the Administrative Agent (collectively, Servicer's directions or activities as set forth in the “Deposit Bank”), pursuant to one or more agreements (collectively, the “Lock-Box Account Agreement”) in form and substance reasonably acceptable to the Administrative Agent, and the Collateral Agent to be executed and delivered by the Borrower and its related Obligors and the Deposit Bank within 30 days of the date hereofpreceding sentence. The Lock-Box Account shall be under the sole dominion established pursuant to and control of the Collateral Agent. Among other things, maintained in accordance with the Lock-Box Account Agreement and shall provide that such Obligors shall have no access to or control over at all times be an Eligible Account. In conjunction with the establishment of the Lock-Box Account, that all available funds on deposit in BVAC, as initial Servicer, shall establish and maintain the Lock-Box Account shall be transferred by wire transfer (at a United States Post Office Branch. Notwithstanding the Lock-Box Agreement or transfer via any of the ACH System) on each Business Day provisions of each calendar week (or if such day is not a Business daythis Agreement relating to the Lock-Box and the Lock-Box Agreement, the next such day that is a Business Day) by Servicer shall remain obligated and liable to the Deposit Bank into Indenture Trustee and the Collection Account, Noteholders for application servicing and administering the Receivables and the other Trust Property in accordance with provisions of this Loan Agreement. The Deposit Bank and the Collection Account Bank shall be directed to deliver to the Borrower and its related Obligors copies Agreement without diminution of bank statements and other information made available such obligation or liability by the Deposit Bank and the Collection Account Bank concerning its Lock-Box Account and Collection Account, respectivelyvirtue thereof.