Lockbox Bank definition

Lockbox Bank means a depository institution named by the Servicer and acceptable to the Controlling Party.

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Lockbox Bank has the meaning set forth in Section 2.11.

Lockbox Bank means the financial institution maintaining the Lockbox Account and identified on Exhibit K hereto or any successor thereto and any other financial institution at which a Lockbox Account is maintained.

Examples of Lockbox Bank in a sentence

In the event ▇▇▇▇▇▇▇▇ fails to do so, Administrative Agent shall have the right, and Borrower hereby grants to Administrative Agent an irrevocable power-of-attorney, coupled with an interest, to designate a successor institution to serve as Lockbox Bank.
In the event Lockbox Bank ceases to qualify as an Eligible Institution, Borrower shall cooperate with Administrative Agent in designating a successor financial institution that qualifies as an Eligible Institution and is otherwise reasonably acceptable to Administrative Agent and transferring the Lockbox Account to such institution, each within thirty (30) days after ▇▇▇▇▇▇▇▇’s receipt of written request by Administrative Agent.
If at any time, an ▇▇▇▇▇▇▇'s direct debit is rejected more than once, the Servicer shall notify such Obligor that it cannot make payment by direct debit for a period of six months and during such time must make payment to the Lockbox Bank by another method offered by the Servicer.
The Servicer shall be liable for the fees and expenses of the Owner Trustee, the Backup Servicer, the Indenture Trustee, any successor Custodian, the Lockbox Bank (and any fees under the Lockbox Agreement) and the Independent Accountants to the extent such fees and expenses have not been paid or reimbursed pursuant to Section 5.7 on any Distribution Date.
The Servicer will, not less often than every three months, notify those Obligors whose payments were not directed to the Lockbox Bank.

More Definitions of Lockbox Bank

Lockbox Bank means (i) initially, ▇▇▇▇▇ Fargo Bank, National Association or its successor or (ii) another depository institution named by the Servicer and in respect of which the Rating Agency Condition shall have been satisfied.

Lockbox Bank means the clearing bank which establishes, maintains and holds the Lockbox Account, which shall be an Eligible Institution.

Lockbox Bank means, as of any date, W▇▇▇▇ Fargo Bank, National Association or another depository institution named by the Servicer and acceptable to the Trustee at which the Lockbox Account is established and maintained as of such date.

Lockbox Bank shall have the meaning given such term in Section 2.5.

Lockbox Bank means any of the commercial banks holding one or more Lockbox Accounts.

Lockbox Bank means ▇▇▇▇▇ Fargo Bank, National Association, or any successor or permitted assigns thereof.

Lockbox Bank shall have the meaning specified in Section 5.2(a) of the Indenture.