Common use of Change in Lock-Box Banks, Lock-Box Accounts and Payment Instructions to Obligors Clause in Contracts

Change in Lock-Box Banks, Lock-Box Accounts and Payment Instructions to Obligors. The Servicer and, to the extent that it ceases to be the Servicer, Worthington, shall not (and shall not permit any Originator to) add or terminate any bank as a Lock-Box Bank or any account as a Lock-Box Account from those listed in Schedule II to the Agreement, or make any change in its instructions to Obligors regarding payments to be made to the Servicer or any Lock-Box Account (or related post office box), unless the Administrator and the Majority Purchasers shall have consented thereto in writing and the Administrator shall have received copies of all agreements and documents (including Lock-Box Agreements) that it may request in connection therewith. Notwithstanding anything contained in this paragraph (g) to the contrary, the Servicer may add a Permitted Lock-Box Bank as a Lock-Box Bank upon the consent of the Administrator and the Majority Purchasers, which consent shall not be unreasonably withheld.

Appears in 2 contracts

Samples: Receivables Purchase Agreement (Worthington Industries Inc), Receivables Purchase Agreement (Worthington Industries Inc)

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Change in Lock-Box Banks, Lock-Box Accounts and Payment Instructions to Obligors. The Servicer andSeller shall not, to the extent that it ceases to be the Servicer, Worthington, shall not (and shall not permit the Servicer or any Originator to) , add or terminate any bank as a Lock-Box Bank or any account as a Lock-Box Account from those listed in Schedule II to the Agreement, or make any change in its instructions to Obligors regarding payments to be made to the Seller, the Originators, the Servicer or any Lock-Box Account (or related post office box), unless the Administrator and the Majority Purchasers shall have consented thereto in writing and the Administrator shall have received copies of all agreements and documents (including Lock-Box Agreements) that it may request in connection therewith. Notwithstanding anything contained in this paragraph (gi) to the contrary, the Servicer Seller may add a Permitted Lock-Box Bank as a Lock-Box Bank upon the consent of the Administrator and the Majority Purchasers, which consent shall not be unreasonably withheld.

Appears in 2 contracts

Samples: Receivables Purchase Agreement (Worthington Industries Inc), Receivables Purchase Agreement (Worthington Industries Inc)

Change in Lock-Box Banks, Lock-Box Accounts and Payment Instructions to Obligors. The Servicer and, to the extent that it ceases to be the Servicer, WorthingtonGreetings, shall not (and shall not permit any Originator to) add or terminate any bank as a Lock-Box Bank or any account as a Lock-Box Account from those listed in Schedule II to the Agreement, or make any change in its instructions to Obligors regarding payments to be made to the Servicer or any Lock-Box Account (or related post office box), unless the Administrator and the Majority Purchasers Purchaser Agents shall have consented thereto in writing writing, which consent shall not be unreasonably withheld or delayed, and the Administrator shall have received copies of all agreements and documents (including Lock-Box Agreements) that it may request in connection therewith. Notwithstanding anything contained in this paragraph (g) to the contrary, the Servicer may add a Permitted Lock-Box Bank an account as a Lock-Box Bank upon Account at a Lock-Box Bank, without the consent of the Administrator and the Majority Purchasers, which consent shall not be unreasonably withheldPurchasers upon delivery to the Administrator of a Lock-Box Agreement in form and substance reasonably acceptable to the Administrator.

Appears in 1 contract

Samples: Receivables Purchase Agreement (American Greetings Corp)

Change in Lock-Box Banks, Lock-Box Accounts and Payment Instructions to Obligors. The Servicer andFrom the date hereof until the first day following the Final Payout Date, to the extent that it ceases to be the Servicer, Worthington, shall each Originator will not (and shall not permit any Originator to) add or terminate any bank as a Lock-Box Bank or any account as a Lock-Box Account from those listed in Schedule II to the Receivables Financing Agreement, or make any change in its instructions to Obligors regarding payments to be made to the Servicer or any Lock-Box Account (or related post office box), unless the Administrator and the Simple Majority Purchasers of the Lenders shall have consented thereto in writing and the Administrator shall have received copies of all agreements and documents (including Lock-Box Agreements) that it may request in connection therewith. Notwithstanding anything contained in this paragraph (g) Section 6.4 to the contrary, the Servicer Originators may add a Permitted Lock-Box Bank as a Lock-Box Bank upon the consent of the Administrator and the Simple Majority Purchasersof the Lenders, which consent shall not be unreasonably withheld.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Worthington Industries Inc)

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Change in Lock-Box Banks, Lock-Box Accounts and Payment Instructions to Obligors. The Servicer andSeller shall not, to the extent that it ceases to be the Servicer, Worthington, shall not (and shall not permit the Servicer or any Originator to) , add or terminate any bank as a Lock-Box Bank or any account as a Lock-Box Account from those listed in Schedule II to the Agreement, or make any change in its instructions to Obligors regarding payments to be made to the Seller, the Originators, the Servicer or any Lock-Box Account (or related post office box), unless the Administrator and the Majority Purchasers Purchaser Agents shall have consented thereto in writing writing, which consent shall not be unreasonably withheld or delayed, and the Administrator shall have received copies of all agreements and documents (including Lock-Box Agreements) that it may request in connection therewith. Notwithstanding anything contained in this paragraph (gi) to the contrary, the Servicer Seller may add a Permitted Lock-Box Bank an account as a Lock-Box Bank upon Account at a Lock-Box Bank, without the consent of the Administrator and the Majority Purchasers, which consent shall not be unreasonably withheldPurchasers upon delivery to the Administrator of a Lock-Box Agreement in form and substance reasonably acceptable to the Administrator.

Appears in 1 contract

Samples: Receivables Purchase Agreement (American Greetings Corp)

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