Lockbox Processing Agreement definition

Lockbox Processing Agreement means the Lockbox Processing Agreement, dated as of , 20 , by and among the Lockbox Processor, the Servicer and the Trust Collateral Agent, as such agreement may be amended or supplemented from time to time.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Lockbox Processing Agreement means the Lockbox Processing Agreement, dated as of January 16, 2013, by and among the Lockbox Processor, the Servicer and the Trust Collateral Agent, as such agreement may be amended or supplemented from time to time.

Lockbox Processing Agreement means the Bank's standard form of agreement for Lockbox arrangements, either as a separate agreement or as an addendum to the Bank's treasury management services agreement, as circumstances warrant. Obligations means all principal, interest and other amounts which are or become ----------- owing under this Agreement, the Note or any other Loan Document. Obligor means each Borrower and any guarantor, surety, co-signer, general ------- partner or other person who may now or hereafter be obligated to pay all or any part of the Obligations. Organizational Documents means, with respect to a corporation, the certificate ------------------------ of incorporation, articles of incorporation and bylaws of such corporation; with respect to a limited liability company, the articles of organization, regulations and other documents establishing such entity, with respect to a partnership, joint venture, or trust, the agreement, certificate or instrument establishing such entity; in each case including all modifications and supplements thereof as of the date of the Loan Document referring to such Organizational Document and any and all future modifications thereof which are consented to by Bank. Parties means all Persons other than Bank executing any Loan Document. ------- Person means any individual, Corporation, trust, unincorporated organization, ------ Governmental Authority or any other form of entity. Proper Form means in form and substance satisfactory to the Bank. ----------- Property means any interest in any kind of property or asset, whether real, -------- personal or mixed, tangible or intangible. Security Documents means those Security Agreements listed on Annex I and all ------------------ supplements, modifications, amendment, extensions thereof and all other agreements hereafter executed and delivered to Bank to secure the Loans. Subordinated Debt means any Indebtedness subordinated to Indebtedness due Bank ----------------- pursuant to a written subordination agreement in Proper Form by and among Bank, subordinated creditor and Borrower which at a minimum must prohibit: (a) any action by subordinated creditor which will result in an occurrence of an Event of Default or default under this Agreement, the subordination agreement or the subordinated Indebtedness; and (b) upon the happening of any Event of Default or default under any Loan Document, the subordination agreement, or any instrument evidencing the subordinated Indebtedness (i) any payment of princ...

Examples of Lockbox Processing Agreement in a sentence

• Such terms are set forth in this Lockbox Processing Agreement (the “Agreement”).

• Processor will process, on behalf of AmeriCredit, checks and other deposited items that appear to be for deposit to the credit of AmeriCredit or its Affiliates in accordance with Processor’s Lockbox Processing Agreement and Instructions, or other applicable agreement and related service terms (individually and collectively, the “Processor Documentation”), as appropriate.

• The Servicer shall be liable for the fees and expenses of the Owner Trustee, the Trust Collateral Agent, the Trustee, the Custodian, the Lockbox Bank (and any fees under the Lockbox Account Agreement), the Lockbox Processor (and any fees under the Lockbox Processing Agreement) and the Independent Accountants.

• The Servicer shall be liable for the fees and expenses of the Owner Trustee, the Backup Servicer, the Trust Collateral Agent, the Trustee, the Custodian, the Lockbox Bank (and any fees under the Lockbox Account Agreement), the Lockbox Processor (and any fees under the Lockbox Processing Agreement) and the Independent Accountants.

• Processor will process, on behalf of AmeriCredit, checks and other deposited items that appear to be for deposit to the credit of AmeriCredit or its Affiliates in accordance with Processor’s Lockbox Processing Agreement and Instructions, or other applicable agreement and related service terms (individually and collectively, the “Regulus Documentation”), as appropriate.

• The Servicer shall be liable for the fees and expenses of the Owner Trustee, the Trust Collateral Agent, the Trustee, the Custodian, [the Lockbox Bank (and any fees under the Lockbox Account Agreement), the Lockbox Processor (and any fees under the Lockbox Processing Agreement)] and the Independent Accountants.

• The Servicer shall be liable for the fees and expenses of the Owner Trustee, the Backup Servicer, the Trust Collateral Agent, the Trustee, the Custodian, the Collateral Agent, the Lockbox Bank (and any fees under the Lockbox Account Agreement), the Lockbox Processor (and any fees under the Lockbox Processing Agreement) and the Independent Accountants.

• Processor will process, on behalf of AmeriCredit, checks and other deposited items that appear to be for deposit to the credit of AmeriCredit or its Affiliates in accordance with Processor’s Lockbox Processing Agreement and Instructions, or other applicable agreement and related service terms (individually and collectively, the “[Processor] Documentation”), as appropriate.

• The Borrower will (or will cause the Servicer to on its behalf) (i) direct all Obligors to remit Collections directly to a Lockbox or a Lockbox Account, (ii) cause all proceeds from all Lockboxes to be directly deposited by the Lockbox Processor or a Lockbox Bank into a Lockbox Account and (iii) cause each Lockbox and Lockbox Account to be subject at all times to a Control Agreement or the Lockbox Processing Agreement, as applicable, which is in full force and effect.

• Processor will process, on behalf of AmeriCredit, checks and other deposited items that appear to be for deposit to the credit of AmeriCredit or its Affiliates in accordance with Processor’ Lockbox Processing Agreement and Instructions, or other applicable agreement and related service terms (individually and collectively, the “Regulus Documentation”), as appropriate.

More Definitions of Lockbox Processing Agreement

Lockbox Processing Agreement means the 2014 Amended and Restated Processing Agreement, dated as of May 1, 2014, by and between CSC Logic, Inc. and FCA.