Hard Lockbox definition
Hard Lockbox means a Lockbox as to which the related lockbox agreement or cash management agreement requires the borrower to instruct tenants to deposit rents or, in the case of the hotel loans, to instruct its credit card companies to deposit credit card receivables directly therein.
Examples of Hard Lockbox in a sentence
Transfer Date Hard Lockbox Any loans with hard lockboxes along with bank name, contact information and copies of the agreements.