Common use of Processing Procedures Clause in Contracts

Processing Procedures. Items found acceptable for deposit under Paragraph (d) above will be encoded, photocopied, endorsed and deposited into the Account each Business Day. The endorsement will read substantially as follows: "Manufacturers Bank Lockbox Service Deposit to the credit of the within named payee," and this endorsement will function as the endorsement of the payee of the Item.

Processing Procedures. Items found acceptable for deposit under Paragraph (d) above will be encoded, photocopied, endorsed and deposited into the Account each Business Day. The endorsement will read substantially as follows: "Manufacturers Bank SMBC MANUBANK Lockbox Service Deposit to the credit of the within named payee," and this endorsement will function as the endorsement of the payee of the Item.