Payment Item definition

Payment Item means each check, draft or other item of payment payable to a Borrower, including those constituting proceeds of any Collateral.

Payment Item each check, draft or other item of payment payable to an Obligor, including those constituting proceeds of any Collateral.

Payment Item each check, draft or other item of payment payable to a Loan Party, including those constituting proceeds of any Collateral.

Examples of Payment Item in a sentence

• Agent shall not be required to terminate its Liens unless it receives Cash Collateral or a written agreement, in each case satisfactory to it, protecting Agent and Lenders from dishonor or return of any Payment Item previously applied to the Obligations.

More Definitions of Payment Item

Payment Item each check, draft or other item of payment payable to Borrower, including those constituting proceeds of any Collateral.

Payment Item each check, draft or other item of payment payable to a Borrower, including those constituting proceeds of any Collateral. PBGC: the Pension Benefit Guaranty Corporation.

Payment Item means each check, draft or other item of payment payable to a Grantor, including those constituting proceeds of any Collateral.

Payment Item means all checks, drafts, or other items of payment payable to a Borrower or Canadian Credit Party, including proceeds of any of the Collateral.

Payment Item means each check, draft, or other item of payment payable to the Borrower, including those evidencing or constituting proceeds of any of the Collateral.

Payment Item means any cash withdrawal or other payment instruction relating where applicable to your Account;

Payment Item means each check, draft or other item of payment payable to a Borrower, including those constituting proceeds of any Collateral. “PBGC” means the Pension Benefit Guaranty Corporation.