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 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.

Examples of Lockbox Account in a sentence

• The funds in the City’s Facilities Lockbox Account may be swept by the City on each business day or at such other time as may be provided in the Operations Manual.

• If the Bank uses a correspondent financial institution to process payments, deposits to a Lockbox Account: (i) may be delayed by one banking day; (ii) may be affected by local bank holidays; and (iii) the availability may depend on the availability of the correspondent institution and any required third-party service provider or funds transfer system.

• Bank will open mail picked up at the Remittance Address, extract Checks and remittance documents, and process and prepare Checks for deposit to Company’s designated Lockbox Account.

• Unless otherwise agreed, while Client receives Lockbox Services, all funds held in the Lockbox Account shall be deemed to be Client’s funds for all purposes, including adjustment, attachment, set-off, security interests, execution, garnishment and other forms of legal process.

• If any payee on the list of Acceptable Payees delivered to the Bank pursuant to the Supporting Documents is a legal entity other than you, you represent and warrant to the Bank and Processor(s) that you have the proper authorization from such payee: (i) to have such Check endorsed for deposit, and deposited, into the Lockbox Account; and (ii) for the Bank and any processor(s) to perform the Lockbox Service under this Service Description for such Acceptable Payee.

More Definitions of Lockbox Account

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

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 an account or accounts maintained at the Lockbox Bank into which collections of Accounts are paid.

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

Lockbox Account has the meaning set forth in Section 3.1(a).

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