US Check Processing Services Agreement definition
US Check Processing Services Agreement. The agreement in effect from time to time between the US Check Processing Bank and the Borrower (or the Parent, where entered into on a group-wide basis consistent with the policies and procedures of the US Check Processing Bank) whereby the US Check Processing Bank undertakes to provide, among other things, check processing services for payments made to the US Check Delivery Address in respect of US Receivables owned by the Borrower, which agreement shall be in form and substance satisfactory to the Agent.
Examples of US Check Processing Services Agreement in a sentence
The US Check Delivery Address shall, at all times, be subject to a US Check Processing Services Agreement in form and substance acceptable to the Agent.