Acceptable Payees. For the Lockbox Address, Company will provide to Bank the names of Acceptable Payees (“
Acceptable Payees. Unless otherwise agreed, you will provide us with the names of acceptable payees. We will process a check if it is made payable to an acceptable payee and if the check is otherwise valid. You warrant that each payee has authorized checks payable to it to be credited to the account you designate for the Service. We may treat any variation of an acceptable payee’s name as an acceptable payee that we deem to be reasonable.
Acceptable Payees. For checks to be processed under Lockbox Services, Customer may submit a written request to the Bank to add, change, or delete payee designations of Customer’s name and/or any other payee name as acceptable payees (“Acceptable Payees”). Such designations of Acceptable Payees shall become effective only after such written request is delivered in an acceptable form to the Bank and after the Bank has a reasonable time to process such changes. Thereafter, the most recent Acceptable Payees’ designations shall in all respects supersede or amend, as the case may be, any previous Acceptable Payees’ designations. Bank may treat as Acceptable Payees any variation of Acceptable Payees’ name that Bank deems to be reasonable. If Customer’s Acceptable Payees includes a non-Customer payee (“Third Party Payees”), Customer agrees to and/or warrants the following regarding third party checks and/or joint payee checks: (1) Third Party Payees have authorized Customer to deposit the checks into Customer’s Account, commingle check funds in Customer’s Account, and retain check funds, draw checks, or withdraw funds under Customer’s direction; (2) Third Party Payees have authorized Customer to endorse or otherwise have authorized endorsement of Third Party Payees checks, where applicable; (3) If Customer wishes to deposit checks in another Account not previously designated for Lockbox Services and/or not previously used for processing checks for Third Party Payees, then Customer shall provide, in advance, a written request to the Bank to do so, which the Bank may accept or reject in its sole discretion; (4) Customer shall stop depositing checks or other items payable to Third Party Payees if any Third Party Payees files for bankruptcy, becomes insolvent, is subject to reorganization, or terminates, liquidates, dissolves its business or disposes of a substantial portion of its assets; (5) each check or other item deposited is not subject to a defense or claim in recoupment of any party that could be asserted against any Third Party Payees or Customer; (6) Customer is liable and agrees to indemnify, defend, and hold us harmless from and against any and all liabilities, claims, demands, losses, costs, damages, and expenses (including reasonable attorneys’ fees) arising out of or related to us allowing Customer to (i) deposit checks to Customer’s Account, with or without the Third Party Payees’ endorsement or purported endorsement, guaranteed or otherwise, and (ii) commingle check fun...
Acceptable Payees. The payee or endorsee of the Item must be Client or one of the payees identified by Client in the Request or Implementation Forms (“Acceptable Payee”) or a reasonable variation thereof. If the payee or endorsee of an Item is not an Acceptable Payee or reasonable variation thereof, the Item will NOT be deposited. Bank reserves the right, in its sole discretion, to determine what a reasonable variation of an Acceptable Payee is. TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, CLIENT HEREBY AGREES TO REIMBURSE AND INDEMNIFY BANK FOR AND HOLD BANK HARMLESS AGAINST ANY LOSSES AT ANY TIME INCURRED IN DEFENDING AGAINST ANY SUCH CLAIM OR LOSS, ARISING OUT OF OR IN CONNECTION WITH BANK’S DEPOSITING AN ITEM PAYABLE TO OR ENDORSED IN FAVOR OF AN ACCEPTABLE PAYEE OR A REASONABLE VARIATION THEREOF, AS AFORESAID;
Acceptable Payees. You agree to limit use of the Lockbox to the receipt of Checks which are expected to be payable to you and other persons (each, an “Other Payee”) for whom you are authorized to obtain payment. You represent and warrant to us that you are duly authorized by each Other Payee to act on its behalf as provided in this Service Description including to have Checks payable to it endorsed and deposited into your designated account. You must list all Other Payees on the Wholesale Lockbox service setup form or in another authorized document acceptable to us. These Other Payees must also acknowledge your authority to endorse and transfer items payable to them. You and each Other Payee each are referred to as an “Acceptable Payee” under this Service Description. We may, at any time, without incurring any liability, cease acceptance and processing of Checks payable to any Other Payee.
Acceptable Payees. You agree that you will not scan or capture an Image of any Check that is payable to any person or entity other than you or other persons identified in writing to us for whom you are authorized to obtain payment (each, an “Other Payee”). You represent and warrant to us that you are duly authorized by each Other Payee to act on its behalf as provided in this Service Description including to have Checks payable to it indorsed and deposited into your designated Account. Each Other Payee must acknowledge your authority to indorse and transfer items payable to it pursuant to a written authorization in a form provided by or otherwise acceptable to us. You and each Other Payee each are referred to as an “Acceptable Payee” under this Service Description. We may, at any time cease acceptance and processing of Checks payable to any Other Payee.
Acceptable Payees. 7.1 You warrant and represent that Acceptable Payees are recognised variations of your name and are not separate legal entities. You agree that we and the Financial Institution may treat Cheques made payable to an Acceptable Payee (and any variation of the Acceptable Payee’s name which the Financial Institution deems reasonable) in the same way as Cheques made payable to you in your name. You shall indemnify us against claims from third parties and all damages, costs and expenses which may be incurred or sustained by us and arising out of us accepting Cheques made payable to an Acceptable Payee.
Acceptable Payees. Customer will provide Bank with a list of entities that constitute acceptable payees (“Acceptable Payees”) such that checks made out to any of the Acceptable Payees may be deposited into the Customer’s Account. To the extent any of the Acceptable Payees constitute separate entities, customer represents and warrants to the Bank that whether through common ownership, or parent/subsidiary or other affiliate relationship Customer has all necessary agreements and authorizations from the Acceptable Payees in order to deposit checks to the Acceptable Payees in the Customer’s Account.
Acceptable Payees. For purposes of processing Checks, Lockbox Agent may treat as an Acceptable Payee any variation of the Museum’s name that Lockbox Agent deems to be reasonable. Schedule 2 to Lockbox Account and Control Agreement Addendum Lockbox Agent Fee Schedule [to be inserted] Exhibit A to Lockbox Account and Control Agreement Addendum Form of Monthly Lockbox Agent Report [to be inserted] Exhibit K Procedures for Insurance Arbitration under Section 6.1(c)(1) The following arbitration procedure is available only as described in §6.1(c)(1) and only if the default does not relate to coverage types and levels, and instead relates only to the form of the policy or the manner in which the parties’ insured interests are identified. Cure periods and remedies shall be governed by Sections 6.1 and 6.2 of the Agreement.
Acceptable Payees. It is expected that all checks will be made or endorsed payable to COMPANY, with the possible exception that some may be an abbreviation of same or of such slight modification that there would be no question as to the identity of the payee company. All of these checks will be processed, forwarded for collection in the normal manner and provisional credit therefor given to the Account. Checks which are made payable or are endorsed over to other than those stated above will be returned unprocessed to COMPANY.
