COMMENCEMENT OF LOCKBOX SERVICE. The Lockbox Service covered by this Service Description will start on the date separately agreed to by the Bank and the Client if all of the following events have occurred prior to such date:
COMMENCEMENT OF LOCKBOX SERVICE. The Lockbox Service covered by this Service Description will start on the date separately agreed to by the Bank and the Company if the following events have occurred prior to such date:
a. Bank has established a Lockbox with the number and at the address specified by Bank to Company.
b. Company maintains one or more Accounts in good standing with Bank.
c. Company has designated to the Bank in writing the names of Acceptable Payees.
d. Company has completed all Supporting Documents applicable to the Lockbox Service, including but not limited to the procedures for handling returned Checks and restrictive notations on Checks, and the processing options selected by Company for the Lockbox Service; and
e. Company has provided to Bank such other information and documents as Bank requests to enable Bank to commence and operate the Lockbox for Company and to enable Bank to comply with its other obligations under this Service Description.
COMMENCEMENT OF LOCKBOX SERVICE. The Lockbox Service will start on the date arranged by Wxxxx Fargo and Regulus with Lender if the following events have occurred before such date:
(a) Regulus has assigned the Lockbox to Borrower with the number and at the address specified by Regulus to Wxxxx Fargo, Lender and Borrower;
(b) The Lender Account has been opened and is in good standing;
(c) Lender has designated to Regulus in Exhibit “A” the acceptable names or designations of payees on checks deposited through the Lockbox Service, the procedures for handling returned checks and restrictive notations on checks, and the processing options selected by Lender for the Lockbox Service; and
(d) Borrower and Lender have provided to Regulus and Wxxxx Fargo such other information and documents as Regulus or Wxxxx Fargo request to enable Regulus and Wxxxx Fargo to commence and operate the Lockbox Service and the Collection Account Service for Borrower and Lender.
COMMENCEMENT OF LOCKBOX SERVICE. The Lockbox Service covered by this Service Description will start on the date separately agreed to by the Bank and you, if all of the following events have occurred prior to such date: • The Bank has established a Lockbox with the number and at the address specified by the Bank to you; • You maintain one or more accounts in good standing with the Bank;
COMMENCEMENT OF LOCKBOX SERVICE. The Lockbox Service will start on the date arranged by Depository Bank and Lockbox Processor with Lender if the following events have occurred before such date:
(a) Lockbox Processor has assigned the Lockbox to Borrower with the number and at the address specified by Lockbox Processor to Depository Bank, Lender and Borrower;
(b) The Lender Account has been opened and is in good standing;
(c) Lender has designated to Lockbox Processor in Exhibit "A" the acceptable names or designations of payees on checks deposited through the Lockbox Service, the procedures for handling returned checks and restrictive notations on checks, and the processing options selected by Lender for the Lockbox Service; and
(d) Borrower and Lender have provided to Lockbox Processor and Depository Bank such other information and documents as Lockbox Processor or Depository Bank request to enable Lockbox Processor and Depository Bank to commence and operate the Lockbox Service and the Collection Account Service for Borrower and Lender.
COMMENCEMENT OF LOCKBOX SERVICE. The Lockbox Service will start on the date separately agreed to by the Parties if the following events have occurred prior to such date: (a) Bank has established a Lockbox with the number and at the address specified by Bank to Company; (b) Company maintains one or more Deposit Accounts in good standing with Bank; (c) Company has designated in writing the names of Acceptable Payees; (d) Company has completed all Setup Forms applicable to the Lockbox Service, including but not limited to the procedures for handling returned Checks and restrictive notations on Checks, and the processing options selected by Company for the Lockbox Service; and (e) Company has provided to Bank such other information and documents as Bank requests to enable Bank to commence and operate the Lockbox for Company and to enable Bank to comply with its other obligations under this Service Description.
