Payment Direction Notice definition

Payment Direction Notice means a written notice by the Agent to the bank at which a Payment Account is maintained instructing such bank to wire transfer all funds deposited in such Payment Account to an account designated by the Agent in such notice.

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Payment Direction Notice shall have the meaning given that term in the definition of "Credit Card Obligor".

Payment Direction Notice has the meaning specified therefor in Section 5.18(c) of the Agreement.

Examples of Payment Direction Notice in a sentence

Terms defined in the Payment Direction Notice have the same meanings when used in this confirmation.
Borrower shall issue to the Lockbox Banks, and the Lockbox Banks shall agree and undertake, upon receipt of a Payment Direction Notice, to deposit all payments or other remittances received in the Lockboxes to the Dominion Account.
The Assignee shall be authorized to send the Payment Direction Notice to the Licensee upon the occurrence of an Event of Default directing the Licensee to remit during the Default Period any and all B&L Royalty Payments to the Assignee when payable under the B&L License Agreement up to an aggregate amount equal to the amount of the outstanding Secured Obligations then due and payable.
The Borrowers and the Guarantors (other than the Inactive Guarantors) shall deliver to each Credit Card Obligor a Credit Card Depository Account Agreement substantially in the form annexed as Exhibit J hereto (the "Credit Card Depository Account Agreement") and the Payment Direction Notice substantially in the form annexed as Exhibit J-1 hereto.
The Agent may, and at the direction of the Majority Lenders will, provide a Payment Direction Notice at any time that an Event of Default exists or Aggregate Availability is less than $20,000,000.

More Definitions of Payment Direction Notice

Payment Direction Notice. As defined in Section 7.2.5 of the Agreement. Payment Item - all checks, drafts or other items of payment payable to Borrower, including proceeds of any of the Collateral. Pending Revolver Loans - at any date, the aggregate principal amount of all Revolver Loans which have been requested in any Notices of Borrowing received by Agent but which have not theretofore been advanced by Agent or Lenders. Permitted Indebtedness - Any and all of the following:

Payment Direction Notice means a notice and direction substantially in the form of the notice and direction annexed as EXHIBIT N.

Payment Direction Notice shall have the meaning ascribed to it in the CIT Agreement.

Payment Direction Notice means a written notice by Agent to the Lockbox Bank instructing such Lockbox Bank to transfer all funds deposited in the Lockbox Account at such Lockbox Bank to the Agent Account.

Payment Direction Notice shall have the meaning given to such term in Section 2.4(b) hereof.

Payment Direction Notice means the Payment Direction Notice, dated as of the date hereof, from Borrower and Bank to Licensee.

Payment Direction Notice means a notice and direction substantially in the form of the notice and direction annexed as Exhibit N.