Common use of Lockbox Instructions Clause in Contracts

Lockbox Instructions. Following the occurrence of a Lockbox Trigger Event and notification thereof by Lender to the Lockbox Banks, any instruction or agreement regarding a Lockbox or the bank accounts related thereto is amended or terminated without the written consent of Lender, or if Borrowers fail, within two (2) Business Days of receipt, to forward Collections it receives with respect to any Accounts to the applicable Lockbox.

Appears in 2 contracts

Sources: Loan and Security Agreement (Providence Service Corp), Loan and Security Agreement (Providence Service Corp)