Permitted Lockbox Bank definition

Permitted Lockbox Bank means any bank at which a Lockbox Account is maintained, the short-term unsecured debt obligations of which are rated at least A-1 by S&P, at least P-1 by Moody's and, if rated by Fitch, at least F-1 by Fitch, appointed from time to time by the Seller and approved by the Buyer.
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Permitted Lockbox Bank means a bank identified on Exhibit F hereto or such other bank as the Servicer, the Borrower and the Agent may agree upon from time to time.
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Permitted Lockbox Bank means a bank identified on Exhibit A to this Agreement or such other bank as the Servicer and the Buyer may agree upon from time to time.
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Examples of Permitted Lockbox Bank in a sentence

  • Make any changes in its instructions to Obligors regarding Collections or add or terminate any bank as a Permitted Lockbox Bank unless the requirements of Section 9.02(f) of the Receivables Purchase Agreement have been met.

  • Each Originator agrees to direct its respective Obligors to make payments of Purchased Receivables directly to a post office box related to the relevant Lockbox Account at a Permitted Lockbox Bank.

  • Each of the Seller and the Servicer represents that it has not given and agrees that it shall not give any instructions to any Permitted Lockbox Bank inconsistent with any Lockbox Agreement or this Agreement.

  • The Administrative Agent, each Managing Agent and each Buyer shall have received duly executed copies of a letter from the Administrative Agent to each Permitted Lockbox Bank which is party to a Lockbox Servicing Agreement in connection with the Existing Purchase Agreement, which provides notice of the amendments to the Existing Purchase Agreement set forth in this Agreement.

  • Add or terminate any Person as a Permitted Lockbox Bank from those Persons listed in Exhibit N hereto, make or permit any change in the location of any Permitted Lockbox or the location or account number of any Lockbox Account, or make any change in the instructions to its Obligors regarding payments to be made to the Seller or Servicer or payments to be made to any Permitted Lockbox.

  • The parties hereto hereby consent to the amendments set forth herein and to the addition of Lockbox Servicing Agreements executed by the Seller, the Servicer, TRFCO and Mellon Bank, N.A., as a Permitted Lockbox Bank, and each of the Administrative Agent and the Managing Agents hereby waives the requirement set forth in Section 9.02(f) of the RPA that it must receive ten (10) Business Days’ prior notice of such additions and changes.

  • Add or terminate any Person as a Permitted Lockbox Bank from those Persons listed in Schedule 4 of the Disclosure Schedule attached to the Receivables Purchase Agreement, or permit any change in the location of any Permitted Lockbox or the location or account number of any Lockbox Account, or make any change in the instructions, to its Obligors regarding payments to be made to the Originator or payments to be made to any Permitted Lockbox.

  • Add or terminate any Person as a Permitted Lockbox Bank from those Persons listed in Exhibit N hereto, make or permit any change in the location of any Permitted Lockbox or the location or account number of any Lockbox Account, or make any change in the instructions to its Obligors regarding payments to be made to the Seller or the Servicer or payments to be made to any Permitted Lockbox.

  • The Administrator, each Buyer and each Buyer Agent shall have received duly executed copies of Lockbox Servicing Agreements with each of one or more Permitted Lockbox Banks and an assignment of TRFCO's rights under such Lockbox Servicing Agreements executed by the applicable Permitted Lockbox Bank.


More Definitions of Permitted Lockbox Bank

Permitted Lockbox Bank means a bank identified on Exhibit J ---------------------- hereto or such other bank or financial institution or entity as the Seller and the Administrative Agent may agree upon from time to time.
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Permitted Lockbox Bank means any bank at which a Lockbox Account is maintained, the short-term unsecured debt obligations of
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Related to Permitted Lockbox Bank

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

  • Lockbox Account shall have the meaning set forth in Section 2.7.1 hereof.

  • Lockbox Accounts means the accounts maintained by Borrower at the Lockbox Banks into which all collections or payments on their Accounts and other Collateral are paid.

  • Financing Accounts means, collectively, the Credit Account and the Grant Account (or, where the context so requires, either of the Credit Account or the Grant Account).”

  • Lockbox Processor means Regulus Group II LLC, or its successors or assigns.

  • Disbursement Accounts has the meaning ascribed to it in Annex C.

  • Lock-Box Bank means any of the banks or other financial institutions holding one or more Lock-Box Accounts.

  • Mortgagor Accounts As defined in Section 3.07(a) of this Agreement.

  • Lockbox Account Agreement means any replacement agreement therefor among the Servicer, the Trust Collateral Agent and the Lockbox Bank.

  • Collateral Accounts means any and all accounts established and maintained by the Pledgee in the name of any Pledgor to which Collateral may be credited.

  • L/C Cash Deposit Account means an interest bearing cash deposit account to be established and maintained by the Agent, over which the Agent shall have sole dominion and control, upon terms as may be satisfactory to the Agent.

  • Collateral Proceeds Account a non-interest bearing cash collateral account established and maintained by the relevant Grantor at an office of the Collateral Account Bank in the name, and in the sole dominion and control of, the Collateral Agent for the benefit of the Secured Parties.

  • Collateral Deposit Account shall have the meaning set forth in Section 7.1(a).

  • Investment Property Control Agreement means an agreement in writing, in form and substance satisfactory to Agent, by and among Agent, any Borrower or Guarantor (as the case may be) and any securities intermediary, commodity intermediary or other person who has custody, control or possession of any investment property of such Borrower or Guarantor acknowledging that such securities intermediary, commodity intermediary or other person has custody, control or possession of such investment property on behalf of Agent, that it will comply with entitlement orders originated by Agent with respect to such investment property, or other instructions of Agent, or (as the case may be) apply any value distributed on account of any commodity contract as directed by Agent, in each case, without the further consent of such Borrower or Guarantor and including such other terms and conditions as Agent may require.

  • Reserve Account Property shall have the meaning specified in Section 4.7(a) of the Sale and Servicing Agreement.

  • Collateral Fund Permitted Investments Either (i) obligations of, or obligations fully guaranteed as to principal and interest by, the United States, or any agency or instrumentality thereof, provided such obligations are backed by the full faith and credit of the United States, (ii) a money market fund rated in the highest rating category by a nationally recognized rating agency selected by the Company, (iii) cash, (iv) mortgage pass-through certificates issued or guaranteed by Government National Mortgage Association, FNMA or FHLMC, (v) commercial paper (including both non-interest-bearing discount obligations and interest-bearing obligations payable on demand or on a specified date), the issuer of which may be an affiliate of the Company, having at the time of such investment a rating of at least A-1 by Standard and Poor's ("S&P") or at least F-1 by Fitch IBCA, Inc. ("Fitch") or (vi) demand and time deposits in, certificates of deposit of, any depository institution or trust company (which may be an affiliate of the Company) incorporated under the laws of the United States of America or any state thereof and subject to supervision and examination by federal and/or state banking authorities, so long as at the time of such investment either (x) the long-term debt obligations of such depository institution or trust company have a rating of at least AA by Fitch or S&P, (y) the certificate of deposit or other unsecured short-term debt obligations of such depository institution or trust company have a rating of at least F-1 by Fitch or A-1 by S&P or (z) the depository institution or trust company is one that is acceptable to either Fitch or S&P and, for each of the preceding clauses (i), (iv), (v) and (vi), the maturity thereof shall be not later than the earlier to occur of (A) 30 days from the date of the related investment and (B) the next succeeding Distribution Date as defined in the related Pooling and Servicing Agreement.

  • Excluded Deposit Account means (a) any deposit account exclusively used for payroll, payroll taxes, and other employee wage and benefit payments to or for the benefit of Borrower’s employees and identified to Bank by Borrower as such and (b) any Xxxxx Cash Accounts.

  • Disbursement Account means, in respect of each Tranche, the bank account set out in the most recent List of Authorised Signatories and Accounts.

  • Excluded Deposit Accounts means (i) any payroll account, (ii) any withholding tax, benefits, escrow, trust, customs or any other fiduciary account and (iii) any zero balance deposit account.

  • Project Accounts means the accounts referred to in Section 3.03 (a) of this Agreement;

  • Trust Account Property means the Trust Accounts, all amounts and investments held from time to time in any Trust Account (whether in the form of deposit accounts, Physical Property, book-entry securities, uncertificated securities or otherwise), and all proceeds of the foregoing.

  • Designated Account Property The Designated Accounts, all cash, investments, Financial Assets, securities and investment property held from time to time in any Designated Account (whether in the form of deposit accounts, Physical Property, book-entry securities, Uncertificated Securities or otherwise), including the Reserve Account Deposit, and all proceeds of the foregoing but excluding all Investment Earnings thereon.

  • Controlled Disbursement Account means any accounts of the Borrowers maintained with the Administrative Agent as a zero balance, cash management account pursuant to and under any agreement between a Borrower and the Administrative Agent, as modified and amended from time to time, and through which all disbursements of a Borrower, any other Loan Party and any designated Subsidiary of a Borrower are made and settled on a daily basis with no uninvested balance remaining overnight.

  • Servicing Accounts The account or accounts created and maintained pursuant to Section 3.08.

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

  • Project Account means the account referred to in Section 3.04 (a) of this Agreement;