Commercial Lockbox definition

Commercial Lockbox means a lockbox in the name of Lender (or a nominee of Lender) and maintained at the Lockbox Bank, or such other bank as is acceptable to Lender, to which Collections on all Accounts, other than Government Accounts, are sent.
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Commercial Lockbox means collectively, each lockbox and/or deposit account in the name of Borrower(s) and maintained at the Lockbox Bank, or such other bank as is acceptable to Lender, to which Collections on all Accounts, other than Government Accounts, are sent or deposited.
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Commercial Lockbox means a lockbox in the name of a person (other than the Provider) designated by the Administrator and maintained at CoreStates Bank, or such other bank as is acceptable to the Administrator, to which Collections on all Accounts, other than Government Accounts, are sent.
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Examples of Commercial Lockbox in a sentence

  • Borrower shall instruct the Lockbox Bank maintaining the Commercial Lockbox that all Collections sent to the Commercial Lockbox shall be deposited into a bank account at the Lockbox Bank in the name of Lender.

  • Borrowers shall instruct the Lockbox Bank maintaining the Government Lockbox that all collections sent to the Government Lockbox shall be deposited into a bank account at the Lockbox Bank in which Lender has a first priority perfected security interest and all Collections sent to the Commercial Lockbox shall be deposited into a bank account at the Lockbox Bank in the name of Lender.

  • The Government Lockbox and the Commercial Lockbox are the only lockbox accounts maintained by Borrowers, and each Obligor of an Eligible Account has been directed, and is required to remit all payments with respect to such Account for deposit in the Commercial Lockbox (other than the Obligors of Government Accounts which have been directed to remit all payments with respect to such Accounts for deposit in the Government Lockbox).

  • Each agreement relating to each Government Lockbox and each Commercial Lockbox is in full force and effect as of the date hereof and has not been amended, restated or modified.

  • Borrower shall instruct the Lockbox Bank maintaining the Commercial Lockbox that all Collections sent to the Commercial Lockbox shall be deposited into a bank account at the Lockbox Bank in which Lender has a first priority perfected security interest or, in the case of Citizens Bank, which is in the name of Lender.

  • The Seller hereby agrees to direct each Payor of an Eligible Receivable to remit all payments with respect to such Receivable for deposit in the Commercial Lockbox Account (other than the Payors of Medicaid, Medicare and CHAMPUS Receivables which shall be directed to remit all payments with respect to such Receivables for deposit in the Medicare Lockbox Account) by delivering to such Payor a notice attached as Exhibit A hereto.

  • All funds received into the Commercial Lockbox Account shall be property of the Buyer and the Buyer can direct to movement of funds from the Commercial Lockbox Account to any other account, as Buyer shall designate in its sole discretion.

  • The Borrowers shall instruct all Governmental Account obligors to pay all Accounts and all other amounts owing to the Borrowers directly to the Governmental Lockbox (which may be effectuated by electronic transfer directly to the Government Lockbox), and all other account debtors to pay all Accounts directly to the Commercial Lockbox.

  • The Seller hereby agrees to direct each Payor of each Receivable to remit all payments with respect to such Receivable for deposit in the Commercial Lockbox Account (other than the Payors of Medicaid, Medicare, CHAMPUS and CHAMPVA Receivables which shall be directed to remit all payments with respect to such Receivables for deposit in the Medicare Lockbox Account) by delivering to such Payor a notice attached as Exhibit A hereto.

  • The Borrowers shall instruct the Lockbox Bank maintaining the Commercial Lockbox and the Government Lockbox to initiate, or accept an initiation from Lender which effectuates, a daily transfer of all available funds to the Collection Account or such other account designated by the Lender.


More Definitions of Commercial Lockbox

Commercial Lockbox means a lockbox in the name of Textron Financial (or a nominee of Textron Financial) and maintained at a bank acceptable to Textron Financial, to which collections on all Accounts, other than Governmental Accounts, are sent. Governmental Account means an Account owed to Customer from a Governmental Account Debtor. Governmental Account Debtor means any Account Debtor which is (i) the United States of America acting under the Medicaid or Medicare program established pursuant to the Social Security Act or any other federal healthcare program, including, without limitation, CHAMPUS and TRICARE, (ii) any state or the District of Columbia acting pursuant to a health plan adopted pursuant to Title XIX of the Social Security Act or any other state health care program, or (iii) any agent, carrier, administrator or intermediary for any of the foregoing.
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Related to Commercial Lockbox

  • Lockbox has the meaning set forth in Section 2.11.

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

  • Commercial account means an arrangement whereby a retail distributor sells hazardous chemicals to an employer, generally in large quantities over time and/or at costs that are below the regular retail price.

  • 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.

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

  • Blocked Accounts shall have the meaning set forth in Section 6.3 hereof.

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

  • Commercial Services means any waste management service, relating or connected to accumulating, collecting, managing, recycling, sorting, storing, treating, transporting, disposing, buying or selling of waste or any other manner of handling waste excluding services rendered by the municipality;

  • Credit card means any card, plate, coupon book, or other credit device ex- isting for the purpose of obtaining money, property, labor, or services on credit.

  • Blocked Account has the meaning provided in Section 6.13(a)(ii).

  • Billing Account is the checking account from which all Service fees will be automatically debited.

  • Lock-Box means each locked postal box with respect to which a bank who has executed a Collection Account Agreement has been granted exclusive access for the purpose of retrieving and processing payments made on the Receivables and which is listed on Exhibit IV.

  • Commercial Bank means a bank, defined as a scheduled bank under section 2(e) of the Reserve Bank of India Act, 1934.

  • Client Account means the unique personalized account of the Client consisting of all Completed Transactions, Open Positions and Orders on the Platform, the Balance of the Client money and deposit/withdrawal transactions of the Client money. It is understood that the Company may use the term Trading Account or Account on its Website or communications, which shall mean your Client Account.

  • Client Accounts means accounts of Clients (i) that are Controlled by an Access Person and (ii) in which no Access Person has a substantial proportionate economic interest; provided that, the Client pays a management, advisory or any other similar arms-length fee to the Access Person and the beneficiary of the Client Account is not an Immediate Family member of an Access Person.

  • Collection Bank means, at any time, any of the banks holding one or more Collection Accounts.

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

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

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

  • Online Account means the Bank account from which you will be conducting transactions using a Service;

  • Processing facility means an establishment that prepares, treats, or converts tangible personal property into finished goods or another form of tangible personal property. The term includes a business engaged in processing agricultural, aquacultural, or maricultural products and specifically includes meat, poultry, and any other variety of food processing operations. It does not include an establishment in which retail sales of tangible personal property are made to retail customers.

  • Marijuana processor means a person who processes marijuana items in this state.

  • Data Processing Agreement means the data processing agreement located at xxx.xxxxxx.xxx/[countrycode]/legal/dpa, where “[countrycode]” means the two-letter abbreviation for the country where your Stripe Account is located.

  • 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.

  • 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, and has such other terms and conditions as Agent may require.