Common use of Lockbox Agreement Clause in Contracts

Lockbox Agreement. Upon the request of any Lender at any time after the Effective Date and for any reason in L▇▇▇▇▇▇’ sole and absolute discretion, Borrower shall enter into a lockbox arrangement with Lenders with respect to B▇▇▇▇▇▇▇’s accounts receivable at a financial institution of the Lenders’ choosing in their sole and absolute discretion and shall execute a deposit control agreement in favor of Lenders in a form satisfactory to Lenders in their sole and absolute discretion.

Lockbox Agreement. Upon the request of any Lender at any time after the Effective Date and for any reason in L▇▇▇▇▇▇Lenders’ sole and absolute discretion, Borrower shall enter into a lockbox arrangement with Lenders with respect to B▇▇▇▇▇▇▇▇’s accounts receivable at a financial institution of the Lenders’ choosing in their sole and absolute discretion and shall execute a deposit control agreement in favor of Lenders in a form satisfactory to Lenders in their sole and absolute discretion; provided, however, a lockbox agreement will not be utilized unless an Event of Default occurs.

Lockbox Agreement. Upon the request of any Lender at any time after the Effective Date and for any reason in L▇▇▇▇▇▇▇’ sole and absolute discretion, Borrower shall enter into a lockbox arrangement with Lenders with respect to B▇▇▇▇▇▇▇▇’s accounts receivable at a financial institution of the Lenders’ choosing in their sole and absolute discretion and shall execute a deposit control agreement in favor of Lenders in a form satisfactory to Lenders in their sole and absolute discretion.