Commercial Lockbox definition

Commercial Lockbox means a lockbox in the name of Lender (or a nominee of Lender) and maintained at the Lockbox Bank, or such other bank as is acceptable to Lender, to which Collections on all Accounts, other than Government Accounts, are sent.
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Commercial Lockbox means a lockbox in the name of LENDER (or a nominee of LENDER) and maintained at the Lockbox Bank, or such other bank as is acceptable to LENDER, to which Collections on all Accounts, other than Government Accounts, are sent.
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Commercial Lockbox means a lockbox in the name of Textron Financial (or a nominee of Textron Financial) and maintained at a bank acceptable to Textron Financial, to which collections on all Accounts, other than Governmental Accounts, are sent. Governmental Account means an Account owed to Customer from a Governmental Account Debtor. Governmental Account Debtor means any Account Debtor which is (i) the United States of America acting under the Medicaid or Medicare program established pursuant to the Social Security Act or any other federal healthcare program, including, without limitation, CHAMPUS and TRICARE, (ii) any state or the District of Columbia acting pursuant to a health plan adopted pursuant to Title XIX of the Social Security Act or any other state health care program, or (iii) any agent, carrier, administrator or intermediary for any of the foregoing.
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Examples of Commercial Lockbox in a sentence

  • The Commercial Lockbox is the only lockbox account maintained by ▇▇▇▇▇▇▇▇, and each Obligor of an Eligible Account has been (or will be immediately after Closing) directed by the notice substantially in the form attached as Exhibit 4.02(c) to this Agreement, and is required to, remit all payments with respect to such Account for deposit in the Commercial Lockbox.

  • In the event that Borrower receives any Collections that should have been sent to the Commercial Lockbox, Borrower will, promptly upon receipt and in any event within one (1) Business Day of receipt (except with regard to Collections aggregating less than $100,000.00, within three (3) Business Days of receipt), forward such Collections directly to the Commercial Lockbox (or deposit such Collections into a Collateral Account subject to a Control Agreement).


More Definitions of Commercial Lockbox

Commercial Lockbox means a lockbox in the name of Textron Financial (or a nominee of Textron Financial) and maintained at a bank acceptable to Textron Financial, to which collections on all Accounts, other than Governmental Accounts, are sent. Governmental Account means an Account owed to Customer from a Governmental Account Debtor. Governmental Account Debtor means any Account Debtor which is (i) the United States of America acting under the Medicaid or Medicare program established pursuant to the Social Security Act or any other federal healthcare program, including, without limitation, CHAMPUS and TRICARE, (ii) any state or the District of Columbia acting pursuant to a health plan adopted pursuant to Title XIX of the Social Security Act or any other state health care program, or (iii) any agent, carrier, administrator or intermediary for any of the foregoing.
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