Acceptable Payee definition
Acceptable Payee means Company’s name and any other payee name provided to Bank by Company as an acceptable payee for Checks to be processed under the Lockbox Service). Bank will process a check only if it is made payable to an Acceptable Payee and if the check is otherwise processable. Company warrants that each Acceptable Payee is either (i) a variation of Company’s name or (ii) is an affiliate of Company which has authorized Checks payable to it to be credited to the Account. Bank may treat as an Acceptable Payee any variation of any Acceptable Payee’s name that Bank deems to be reasonable.
Acceptable Payee means Company and each Other Payee.
Acceptable Payee means, with respect to the Lockbox Service, the names specified to Bank by Customer as the payee names that Bank may accept in connection with items received for deposit.
Examples of Acceptable Payee in a sentence
If the payee or endorsee of an Item is not an Acceptable Payee or reasonable variation thereof, the Item will NOT be deposited.
Bank reserves the right, in its sole discretion, to determine what a reasonable variation of an Acceptable Payee is.
Customer warrants that each Acceptable Payee is Customer, its affiliate, or an entity that has authorized Customer to act on its behalf for the Services provided herein.
Bank may require written authorization from any Acceptable Payee or written evidence that an Acceptable Payee has authorized Customer to act on its behalf.
If the Acceptable Payee is an affiliate of Customer or an entity which authorized Customer to act on such entity's behalf, Customer represents and warrants that such affiliate or entity has authorized Checks payable to it to be credited to the Lockbox Account.
More Definitions of Acceptable Payee
Acceptable Payee means Client's name and any other payee name provided to Bank by Client as an acceptable payee for Checks to be processed under the Lockbox.
Acceptable Payee means your name and any other payee name provided to the Bank by you as an acceptable payee for Checks to be processed under the Lockbox; • You have completed all Supporting Documents applicable to the Lockbox Service and such other information and documents in a time and manner as the Bank requests to enable the Bank to commence and operate the Lockbox for you and to enable the Bank to comply with the Bank’s other obligations under this Service Description; • The Bank has completed all steps necessary to enable its Processor (as applicable) to service the Lockbox pursuant to this Service Description. • Delivery of Deposits and Documents – Bank picks up your items from the U.S. Post Office, however, if you select, you can use courier service and deliver the items to the Bank, such arrangement is subject to fees. Refer to our Schedule of Fees. Unprocessable Checks. The Bank will not process Checks in the following categories using Lockbox Service: • Checks on which the name or designation of the payee is not the same or as specified as an Acceptable Payee. • Checks that do not bear a drawer’s signature and are otherwise not a traveler’s check, money order or other universal item that includes the drawers. In any event, the Bank will not review checks for drawer’s signature(s), and therefore all such checks will be processed, unless otherwise unprocessable pursuant to this Electronic Lockbox (eLockbox) Service Description, and you agree to indemnify, defend and hold harmless the Bank, the drawee bank and any intervening collecting bank against any claim resulting from the Bank’s having processed the check. • Checks with alterations. Notwithstanding the foregoing, the Bank will only use reasonable efforts to identify Checks as Unacceptable Checks and prevent deposits. As a result, the Bank will have no liability whatsoever, despite anything to the contrary in the Service Description, for deposit of Unacceptable Checks unless the deposit results directly from the willful misconduct of the Bank’s officers or employees. You agree to indemnify, defend and hold harmless the Bank, the drawee bank (which may include the Bank) and any intervening collecting bank against any claim resulting from the Bank’s having processed an Unacceptable Check. • Checks missing a date deposited in the Lockbox will be processed and considered by the Bank as of the date the check is collected from the Lockbox, unless they also fall into the categories of Unacceptable Checks, in which c...
Acceptable Payee means your name and any other payee name provided to the Bank by you as an acceptable payee for Checks to be processed under the Lockbox; • You have completed all Supporting Documents applicable to the Lockbox Service and such other information and documents in a time and manner as the Bank requests to enable the Bank to commence and operate the Lockbox for you and to enable the Bank to comply with the Bank’s other obligations under this Service Description; • The Bank has completed all steps necessary to enable its Processor (as applicable) to service the Lockbox pursuant to this Service Description.
Acceptable Payee means a payee on an Item to be processed by us for deposit to your Account and which payee is listed as an Acceptable Payee on your Lockbox Service Request.
Acceptable Payee means Company’s name and any other payee name provided to Bank by Company as an acceptable payee for Checks to be processed under the Lockbox Service). Bank will process a check only if it is made payable to an Acceptable Payee and if the check is otherwise processable. Company warrants that each Acceptable Payee is either (i) a variation of Company’s name or (ii) is an affiliate of Company which has authorized Checks payable to it to be credited to the Account. Bank may treat as an Acceptable Payee any variation of any Acceptable Payee’s name that Bank deems to be reasonable. CHANGES TO PROCESSING INSTRUCTIONS Company may request Bank orally or in writing to make changes to the processing instructions (including changes to Acceptable Payees) for any Lockbox Address by contacting its Bank representative, so long as such changes do not conflict with the terms of the Deposit Account Control Agreement. Bank will not be obligated to implement any requested changes until Bank has actually received the requests and had a reasonable opportunity to act upon them. In making changes, Bank is entitled to rely on instructions purporting to be from Company. [Letterhead of Collection Agent] To: Bank of America N. A. ▇▇▇ ▇ ▇▇ ▇▇▇▇▇▇ ▇▇. IL1-231-14-30 Chicago, IL 60604 Attention: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ Fax: ▇▇▇-▇▇▇-▇▇▇▇ Telephone: ▇▇▇-▇▇▇-▇▇▇▇ ▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇ ▇. A. ▇▇▇ ▇▇▇▇▇ ▇▇ ▇. ▇▇▇-▇▇▇-▇▇-▇▇ Toronto, ON M5V 3L2 Attention: ▇▇▇▇▇ ▇▇▇▇ Fax: ▇▇▇-▇▇▇-▇▇▇▇ Telephone: ▇▇▇-▇▇▇-▇▇▇▇ Re: Celestica · Account No. · Account No. · Ladies and Gentlemen: Reference is made to the Deposit Account Control Agreement dated November ·, 2005 (the “Agreement”) among Celestica Corporation, us and you regarding the above-described accounts (the “Accounts”). In accordance with Section 2 of the Agreement, we hereby give you notice of the occurrence of a Termination Event and of our exercise of control of the Accounts: DEUTSCHE BANK TRUST COMPANY AMERICAS as Collection Agent By: Name: Title: (corresponding to Collection Account # ·) (corresponding to Collection Account # ·) Celestica November 23, 2005 Deutsche Bank Trust Company Americas ▇▇ ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇
Acceptable Payee means Company’s name and any other payee name provided to Bank by Company as an acceptable payee for Checks to be processed under the Lockbox Service). Bank will process a check only if it is made payable to an Acceptable Payee and if the check is otherwise processable. Company warrants that each Acceptable Payee is either (i) a variation of Company’s name or (ii) is an affiliate of Company which has authorized Checks payable to it to be credited to the Account. Bank may treat as an Acceptable Payee any variation of any Acceptable Payee’s name that Bank deems to be reasonable. Company may request Bank orally or in writing to make changes to the processing instructions (including changes to Acceptable Payees) for any Lockbox Address by contacting its Bank representative, so long as such changes do not conflict with the terms of the Deposit Account Control Agreement. Bank will not be obligated to implement any requested changes until Bank has actually received the requests and had a reasonable opportunity to act upon them. In making changes, Bank is entitled to rely on instructions purporting to be from Company. To: Bank of America, N.A. South Coast Financial Center BC 2nd Floor CA6-137-02-02 ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇-▇▇▇▇ Attention: ▇▇▇▇▇ ▇▇▇▇▇ Bank of America 14th Floor, CA5-704-14-01 ▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ San Francisco, California 94104-1866 Attention: ▇▇▇▇▇▇ ▇▇▇▇ Re: ▇▇▇▇ Microproducts Funding Corporation Account No. [ ] Ladies and Gentlemen: Reference is made to the Deposit Account Control Agreement, dated December 28, 2005 (the “Agreement”), among ▇▇▇▇ Microproducts Funding Corporation, us and you regarding the above-described account (the “Account”). In accordance with Section 2 of the Agreement, we hereby give you notice of our exercise of control of the Account and we hereby instruct you to transfer funds to our account as follows: Bank Name: ABA No.: Account Name: Account No.: Very truly yours, WACHOVIA BANK, NATIONAL ASSOCIATION, as Agent By: Name: THIS ASSIGNMENT AGREEMENT (this “Assignment Agreement”) is entered into as of the day of , , by and between (“Assignor”) and (“Assignee”).
Acceptable Payee means Company's name and any other payee name provided to Bank by Company as an acceptable payee for checks to be processed under the Lockbox Service). Bank will process a check only if it is made payable to an Acceptable Payee and if the check is otherwise processable. Company warrants that each Acceptable Payee has authorized checks payable to it be credited to the Account Company designates for the Lockbox Service. Bank may treat as an acceptable Payee any variation of any Acceptable Payee's name that Bank deems to be reasonable.