Lockbox Account definition

Lockbox Account shall have the meaning set forth in Section 2.7.1 hereof.

Lockbox Account means an account maintained on behalf of the Trust Collateral Agent by the Lockbox Bank pursuant to Section 4.2(d).

Lockbox Account means a depositary account established pursuant to one of the Lockbox Agreements.

Examples of Lockbox Account in a sentence

• If the Bank at any time determines that there is an inaccuracy in the Lockbox Account, or that an entry previously posted to the Lockbox Account was revoked or did not become final (including but not limited to the return of deposited items unpaid), then the Bank may debit such amount against the Lockbox Account or, if the Bank cannot obtain payment of such amount by debiting the Lockbox Account, the Client agrees to pay such amount to the Bank immediately upon demand.

• The Bank shall debit the designated Lockbox Account for the amount of the returned Check along with the Bank’s normal returned deposit item fee shown in the Fee Schedule.

• All funds deposited into a Lockbox Account shall be transferred into the Payment Account by the close of each Business Day.

• Borrowers shall ensure that all collections of Accounts and proceeds of other Borrowing Base Collateral are paid directly from Account Debtors directly into the Lockbox Account; provided, however; unless Agent shall otherwise direct by written notice to Borrowers, Borrowers shall be permitted to cause Account Debtors who are individuals to pay Accounts directly to Borrowers, which Borrowers shall then administer and apply in the manner required below.

• In the event a Check deposited into the Lockbox Account is returned unpaid because of insufficient funds or uncollected funds, the Bank may either redeposit the Check or return the Check to the Client.

More Definitions of Lockbox Account

Lockbox Account means an account or accounts maintained at the Lockbox Bank into which collections of Accounts are paid, which account or accounts shall be, if requested by Agent, opened in the name of Agent (or a nominee of Agent).

Lockbox Account means the account maintained with the Lockbox Bank and identified on Exhibit K hereto and any other account hereafter established to accept collections on the Contracts.

Lockbox Account. An account maintained by Xxxxx Fargo Bank, National Association or another third party custodian or trustee selected by Purchaser for the purpose of receiving Servicing Spread Collections.

Lockbox Account means an account established and maintained by Exeter at the Lockbox Bank pursuant to Section 4.2(d).

Lockbox Account means the deposit account maintained at the Lockbox Bank pursuant to the Lockbox Agreement, which shall be a non-interest bearing account.

Lockbox Account means a Deposit Account with account number 0000000000 at MB Financial Bank, N.A. in the name of Company.

Lockbox Account shall have the meaning specified in Section 2.6.3 hereof.