Common use of Deposits to Lock-Box Accounts Clause in Contracts

Deposits to Lock-Box Accounts. The Servicer shall: (i) instruct all Obligors to make payments of all Receivables to one or more Lock-Box Accounts or to post office boxes to which only Lock-Box Banks have access (and shall instruct the Lock-Box Banks to cause all items and amounts relating to such Receivables received in such post office boxes to be removed and deposited into a Lock-Box Account on a daily basis); and (ii) deposit, or cause to be deposited, any Collections received by it into Lock-Box Accounts not later than two (2) Business Days after receipt thereof. Each Lock-Box Account shall at all times be subject to a Lock-Box Agreement.

Appears in 7 contracts

Samples: Receivables Purchase Agreement (Peabody Energy Corp), Receivables Purchase Agreement (Peabody Energy Corp), Receivables Purchase Agreement (Peabody Energy Corp)

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Deposits to Lock-Box Accounts. The Servicer shall: (i) instruct all Obligors to make payments of all Receivables to one or more Lock-Box Accounts or to post office boxes to which only Lock-Box Banks have access (and shall instruct the Lock-Box Banks to cause all items and amounts relating to such Receivables received in such post office boxes to be removed and deposited into a Lock-Box Account on a daily basis); , and (ii) deposit, or cause to be deposited, any Collections received by it into Lock-Box Accounts not later than two (2) one Business Days Day after receipt thereof. Each Lock-Box Account shall at all times be subject to a Lock-Box Agreement. The Servicer will not deposit or otherwise credit, or cause or permit to be so deposited or credited, to any Lock-Box Account cash or cash proceeds other than Collections.

Appears in 2 contracts

Samples: Receivables Purchase Agreement (First Brands Corp), Receivables Purchase Agreement (Commonwealth Industries Inc/De/)

Deposits to Lock-Box Accounts. The Servicer shall: (i) instruct all ----------------------------- Obligors to make payments of all Receivables to one or more Lock-Box Accounts or to post office boxes to which only Lock-Box Banks have access (and shall instruct the Lock-Box Banks to cause all items and amounts relating to such Receivables received in such post office boxes to be removed and deposited into a Lock-Box Account on a daily basis); and (ii) deposit, or cause to be deposited, any Collections received by it into Lock-Box Accounts not later than two (2) one Business Days Day after receipt thereof. Each Lock-Box Account shall at all times be subject to a Lock-Box Agreement.

Appears in 1 contract

Samples: Receivables Purchase Agreement (KPMG Consulting Inc)

Deposits to Lock-Box Accounts. The Servicer shall: (i) instruct all Obligors to make payments of all Receivables to one or more Lock-Box Accounts or to post office the lock-boxes to which only Lock-Box Banks have access (and shall instruct the Lock-Box Banks to cause all items and amounts relating to such Receivables received in such post office lock-boxes to be removed and deposited into a Lock-Box Account on a daily basis); , and (ii) deposit, or cause to be deposited, any Collections received by it into Lock-Box Accounts not later than two (2) one Business Days Day after receipt thereof. thereof Each Lock-Box Account shall at all times be subject to a Lock-Box Agreement. The Servicer will not deposit or otherwise credit, or cause or permit to be so deposited or credited, to any Lock-Box Account cash or cash proceeds other than Collections.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Carpenter Technology Corp)

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Deposits to Lock-Box Accounts. The Servicer shall: shall (i) instruct all Obligors to make payments of all Receivables to one or more Lock-Box Accounts or to post office boxes to which only Lock-Box Banks have access (and shall instruct the Lock-Box Banks to cause all items and amounts relating to such Receivables received in such post office boxes to be removed and deposited into a Lock-Box Account on a daily basis); , and (ii) deposit, or cause to be deposited, any Collections of Receivables received by it into Lock-Box Accounts not later than two (2) one Business Days Day after receipt thereof. Each Lock-Box Account shall at all times be subject to a Lock-Box Agreement.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Citgo Petroleum Corp)

Deposits to Lock-Box Accounts. The Servicer shall: (i) instruct all Obligors to make payments of all Receivables to one or more Lock-Box Accounts or to post office boxes to which only Lock-Box Banks have access (and shall instruct the Lock-Box Banks to cause all items and amounts relating to such Receivables received in such post office boxes to be removed and deposited into a Lock-Lock- Box Account on a daily basis); and (ii) deposit, or cause to be deposited, any Collections received by it into Lock-Box Accounts not later than two (2) one Business Days Day after receipt thereof. Each Lock-Box Account shall at all times be subject to a Lock-Box Agreement.

Appears in 1 contract

Samples: Receivables Purchase Agreement (JLG Industries Inc)

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