Redirection Notices Clause Samples
Redirection Notices. With respect to any Obligor to whom Xerox shall not have delivered an Initial Monetization Invoice prior to the applicable Closing Date, Borrower shall, pursuant to the Initial Monetization Invoice issued to such Obligor, direct such Obligor (by means of including the correct address for a Lockbox on the face of such invoice), to remit all Contract Payments and/or payments with respect to IM/Pooling Contracts invoiced to such Obligor on or after the date of such Initial Monetization Invoice (other than the Excluded Payments) in respect of such Obligor’s Financing Contract to a Lockbox; provided that the fact that an Obligor has been given an option to remit its Contract Payment by means of (a) electronic funds transfer to either the EFT Lockbox Account or the EBPP Lockbox Account or (b) credit card to the Credit Card Lockbox Account shall not cause Borrower to be in violation of this Section 5.12 (except to the extent otherwise provided in the Program Agreement or the Sale and Contribution Agreement).
Redirection Notices. The Company shall have delivered to the Purchaser notices provided by the Company to each Existing Merchant Processor (as defined below), and each Merchant Processor shall have acknowledged, a notice redirecting certain holdbacks and reserves (collectively, the "Holdbacks") to one or more deposit accounts maintained and designated by the Purchaser (and/or an affiliate thereof) (collectively, the "Laurus Accounts"), which notices shall be in form and substance satisfactory to the Purchaser. The Holdbacks deposited in the Laurus Accounts in accordance with the notices delivered pursuant to this Section 3.3 shall be held by the Purchaser for the benefit of the Purchaser as Collateral (as defined in the Master Security Agreement (as defined below).
Redirection Notices. The Company shall have provided to Payment One Corporation ("Payment One"), and PaymentOne shall have acknowledged, a notice redirecting certain holdbacks and reserves to the Reserve Restricted Account (as defined in the Reserve Restricted Account Agreement), which notices shall be in form and substance satisfactory to the Purchaser. Payment One and ILD Telecommunications, Inc, a Delaware corporation ("ILD") are collectively referred to in this Agreement as the "Existing Billing Agencies".