Processor definition
Examples of Processor in a sentence
In furtherance of this remedy, Administrative Agent shall be permitted to retain and apply to the Outstanding Legal Balance all payments received in respect of Leases within the Portfolio, other than fees due and payable to the Backup Servicer, any Approved Processor or Account Bank.
In furtherance and not in limitation of the foregoing, the Credit Parties shall (A) not take any action to interfere with any Processor depositing Collections received by such Processor in accordance with the Flow of Funds, and (B) not direct any Processor not to deposit all Net Collections received by such Processor in accordance with the Flow of Funds.
In furtherance of this remedy, Administrative Agent shall be permitted to retain and apply to the Outstanding Legal Balance all payments received in respect of Receivables within the Portfolio, other than fees due and payable to the Backup Servicer, any Approved Processor or Account Bank.