Lockbox Addresses definition
Examples of Lockbox Addresses in a sentence
Each U.S. Credit Party shall instruct all Account Debtors of the U.S. Credit Parties to remit all payments to the "P.O. Boxes" or "Lockbox Addresses" of the U.S. Collection Bank (or to remit such payments to the U.S. Collection Bank by electronic settlement) with respect to all Accounts of such Account Debtor, which remittances shall be collected by the U.S. Collection Bank and deposited in a U.S. Collection Account.
Each Canadian Credit Party shall instruct all Account Debtors of the Canadian Credit Parties to remit all payments to the "P.O. Boxes" or "Lockbox Addresses" of the depositary banks maintaining Canadian Collection Accounts (or to remit such payments to the applicable depositary bank by electronic settlement) with respect to all Accounts of such Account Debtor, which remittances shall be collected by such depositary banks and deposited in a Canadian Collection Account.
Bank will have unrestricted and exclusive access to the mail directed to the Lockbox Addresses.
Bank will open the envelopes picked up from the Lockbox Addresses and remove the contents.
For the Lockbox Addresses, Checks and other documents contained in the envelopes will be inspected and handled in the manner specified in the Company’s set-up documents.
The Borrower and each of its Domestic Subsidiaries shall instruct all Account Debtors of the Borrower and such Domestic Subsidiaries to remit all payments to the applicable "P.O. Boxes" or "Lockbox Addresses" of the applicable Collection Bank with respect to all Accounts of such Account Debtor, which remittances shall be collected by the applicable Collection Bank and deposited in the applicable Collection Account.
Bank will handle Checks received at the Lockbox Addresses according to the applicable deposit account agreement, as if the Checks were delivered by Company to Bank for deposit to the Account, except as modified by these Terms and Conditions.
With this Service, Company instructs its customers to mail checks it wants to have processed under the Service to the Lockbox Addresses.
Bank picks up mail at the Lockbox Addresses according to its mail pick-up schedule.
The Borrower and each of its Subsidiaries shall instruct all account debtors on the Accounts of the Borrower or such Subsidiary, as the case may be, to remit all payments to the applicable "P.O. Boxes" or "Lockbox Addresses" (as defined in the applicable Collection Bank Agreement) which remittances shall be collected by the applicable Collection Bank and deposited in the applicable Collection Account.