Deposits to Lock-Box Accounts. The Servicer shall: (i) mail, wire or otherwise transfer, or cause to be so transferred, any Collections received by it to Lock-Box Accounts not later than one Business Day after receipt thereof and (ii) instruct all Obligors (other than, for a period no longer than 120 days after the Closing Date, Kinko's) 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). Except as otherwise agreed to in writing by the Administrator and the Majority Purchasers, 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 (American Greetings Corp)
Deposits to Lock-Box Accounts. The Seller shall (or shall cause the Servicer shall: to): (i) mail, wire or otherwise transferdeposit, or cause to be so transferreddeposited, any Collections received by it to it, the Servicer or any Originator into Lock-Box Accounts not later than one Business Day after receipt thereof thereof, and (ii) instruct all Obligors (other than, for a period no longer than 120 days after the Closing Date, Kinko's) 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). Except as otherwise agreed to in writing by the Administrator and the Majority PurchasersPurchasers or as provided in SECTION 4.3, each Lock-Box Account shall at all times be subject to a Lock-Box Agreement. The Servicer Seller will not (and will not permit the Servicer to) deposit or otherwise credit, or cause or permit to be so deposited or credited, to any Lock- Lock-Box Account cash or cash proceeds other than Collections.
Appears in 1 contract
Samples: Receivables Purchase Agreement (Worthington Industries Inc)
Deposits to Lock-Box Accounts. The Seller shall (or shall cause the Servicer shall: to): (i) mail, wire instruct (or otherwise transfer, or cause to be so transferred, any Collections received by it to Lock-Box Accounts not later than one Business Day after receipt thereof and (iishall have previously instructed) instruct all Obligors (other than, for a period no longer than 120 days after the Closing Date, Kinko's) 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, the Servicer or the Originator into one or more Lock-Box Accounts or to post office boxes to which only Lock-Box Banks have access not later than three (3) Business Days after receipt thereof. Except as otherwise agreed to in writing by the Administrator and the Majority Purchasers, each Each Lock-Box Account shall at all times be subject to a Lock-Box Agreement. The Servicer Seller will not (and will not permit the Servicer to) deposit or otherwise credit, or cause or permit to be so deposited or credited, to any Lock- Lock-Box Account cash or cash proceeds other than Collections.
Appears in 1 contract
Samples: Receivables Purchase Agreement (Church & Dwight Co Inc /De/)
Deposits to Lock-Box Accounts. The Seller shall (or shall cause the Servicer shall: to): (i) mail, wire or otherwise transferdeposit, or cause to be so transferreddeposited, any Collections received by it to it, the Servicer or any Originator into Lock-Box Accounts not later than one Business Day after receipt thereof thereof, and (ii) instruct all Obligors (other than, for a period no longer than 120 days after the Closing Date, Kinko's) 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). Except as otherwise agreed to in writing by the Administrator and the Majority PurchasersPurchasers or as provided in Section 4.3, each Lock-Box Account shall at all times be subject to a Lock-Box Agreement. The Servicer Seller will not (and will not permit the Servicer to) deposit or otherwise credit, or cause or permit to be so deposited or credited, to any Lock- Lock-Box Account cash or cash proceeds other than Collections.
Appears in 1 contract
Samples: Receivables Purchase Agreement (Worthington Industries Inc)
Deposits to Lock-Box Accounts. The Seller shall (or shall cause the Servicer shall: to): (i) mail, wire or otherwise transfer, or cause to be so transferred, any Collections received by it to Lock-Box Accounts not later than one Business Day after receipt thereof and (ii) instruct all Obligors (other than, for a period no longer than 120 days after the Closing Date, Kinko's) 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, the Servicer or any Originator into Lock-Box Accounts not later than two Business Days after receipt thereof. Except as otherwise agreed to in writing by the Administrator and the Majority Purchasers, each Each Lock-Box Account (other than Lock-Box Accounts that solely receive Collections not denominated in United States dollars) shall at all times on or after the initial purchase by the Issuer hereunder be subject to a Lock-Box Agreement. The Servicer Seller will not (and will not permit the Servicer to) deposit or otherwise credit, or cause or permit to be so deposited or credited, to any Lock- Lock-Box Account cash or cash proceeds other than Collections.
Appears in 1 contract
Samples: Receivables Purchase Agreement (CSS Industries Inc)
Deposits to Lock-Box Accounts. The Seller shall, or shall cause the Servicer shall: to, (i) mail, wire or otherwise transfer, or cause to be so transferred, any Collections received by it to Lock-Box Accounts not later than one Business Day after receipt thereof and (ii) instruct all Obligors (other than, for a period no longer than 120 days after the Closing Date, Kinko's) 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). Except as otherwise agreed , and (ii) deposit, or cause to in writing be deposited, any Collections of Pool Receivables received by it or the Administrator and the Majority Purchasers, each Servicer into Lock-Box Accounts not later than one Business Day after receipt thereof. Each Lock-Box Account, the Collection Account and the Liquidation Account shall at all times be subject to a Lock-Box Agreement, Collection Account Agreement or Liquidation Account Agreement, respectively. The Neither the Seller nor the Servicer will not deposit or otherwise credit, or cause or permit to be so deposited or credited, to any Lock- Lock-Box Account cash or cash proceeds other than CollectionsCollections of Pool Receivables.
Appears in 1 contract
Samples: Receivables Purchase Agreement (Warren S D Co /Pa/)
Deposits to Lock-Box Accounts. The Seller shall (or shall cause the Servicer shall: to): (i) mail, wire or otherwise transfer, or cause to be so transferred, any Collections received by it to Lock-Box Accounts not later than one Business Day after receipt thereof and (ii) instruct all Obligors (other than, for a period no longer than 120 days after the Closing Date, Kinko's) 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)basis)or to payment centers, and (ii) deposit, or cause to be deposited, any Collections received by it, the Servicer or the Originator (including Collections received at payment centers) into Lock-Box Accounts not later than one Business Day after receipt thereof. Except as otherwise agreed to in writing by the Administrator and the Majority Purchasers, each Each Lock-Box Account shall at all times on or after the applicable Lock-Box Date be subject to a Lock-Box Agreement. The Servicer Seller will not (and will not permit the Servicer to) deposit or otherwise credit, or cause or permit to be so deposited or credited, to any Lock- Lock-Box Account cash or cash proceeds other than Collections.
Appears in 1 contract
Deposits to Lock-Box Accounts. The Servicer shall: (i) mail, wire or otherwise transfer, or cause to be so transferred, any Collections received by it to Lock-Box Accounts not later than one Business Day after receipt thereof and (ii) instruct all Obligors (other thanthan Obligors on a Receivable originated by Ex-Cell Manufacturing Company, for a period no longer than 120 days after the Closing Date, Kinko'sInc.) 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 one Business Day after receipt thereof. Except as otherwise agreed to in writing by the Administrator and the Majority Purchasers, each Each Lock-Box Account (other than the Lock-Box Account to which Collections are deposited by Ex-Cell Manufacturing Company, Inc.) 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- Lock-Box Account cash or cash proceeds other than Collections.
Appears in 1 contract
Samples: Receivables Purchase Agreement (Falcon Building Products Inc)
Deposits to Lock-Box Accounts. The Seller shall (or shall cause the Servicer shall: to): (i) mail, wire or otherwise transfer, or cause to be so transferred, any Collections received by it it, the Servicer or any Originator to Lock-Box Accounts not later than one Business Day after receipt thereof and (ii) instruct all Obligors (other than, for a period no longer than 120 days after the Closing Date, Kinko's) 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). Except as otherwise agreed to in writing by the Administrator and the Majority PurchasersPurchaser Agents, each Lock-Box Account shall at all times be subject to a Lock-Box Agreement. The Servicer Seller will not (and will not permit the Servicer to) deposit or otherwise credit, or cause or permit to be so deposited or credited, to any Lock- Lock-Box Account cash or cash proceeds other than Collections.
Appears in 1 contract
Samples: Receivables Purchase Agreement (American Greetings Corp)
Deposits to Lock-Box Accounts. The Seller shall, or shall cause the Servicer shall: to, (i) mail, wire or otherwise transfer, or cause to be so transferred, any Collections received by it to Lock-Box Accounts not later than one Business Day after receipt thereof and (ii) instruct all Obligors (other than, for a period no longer than 120 days after the Closing Date, Kinko's) 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 Pool Receivables received by it or the Servicer into Lock-Box Accounts not later than one Business Day after receipt thereof. Except as otherwise agreed Subject to in writing by the Administrator and the Majority PurchasersSection 4.3(a), each Lock-Box Account, the Collection Account and the Liquidation Account shall at all times be subject to a Lock-Box Agreement or Liquidation Account Agreement, respectively. The Neither the Seller nor the Servicer will not deposit or otherwise credit, or cause or permit to be so deposited or credited, to any Lock- Lock-Box Account cash or cash proceeds other than CollectionsCollections of Pool Receivables.
Appears in 1 contract
Samples: Receivables Purchase Agreement (Pilgrims Pride Corp)
Deposits to Lock-Box Accounts. The Seller shall (or shall cause the Servicer shall: to): (i) mail, wire or otherwise transfer, or cause to be so transferred, any Collections received by it to Lock-Box Accounts not later than one Business Day after receipt thereof and (ii) instruct all Obligors (other than, for a period no longer than 120 days after the Closing Date, Kinko's) 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, the Servicer or any Originator into Lock-Box Accounts not later than one Business Day after receipt thereof. Except as otherwise agreed to in writing by the Administrator and the Majority PurchasersAdministrator, each Lock-Box Account shall at all times be subject to a Lock-Box Agreement. The Servicer Seller will not (and will not permit the Servicer to) deposit or otherwise credit, or cause or permit to be so deposited or credited, to any Lock- Lock-Box Account cash or cash proceeds other than Collections.
Appears in 1 contract
Samples: Receivables Purchase Agreement (Wesco International Inc)
Deposits to Lock-Box Accounts. The Seller shall (or shall cause the Servicer shall: to): (i) mail, wire or otherwise transfer, or cause to be so transferred, any Collections received by it to Lock-Box Accounts not later than one Business Day after receipt thereof and (ii) instruct all Obligors (other than, for a period no longer than 120 days after the Closing Date, Kinko's) 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). Except as otherwise agreed , and (ii) deposit, or cause to in writing be deposited, any Collections received by it, the Administrator and the Majority Purchasers, each Servicer or any Originator into Lock-Box Accounts not later than one Business Day after receipt thereof. Each Lock-Box Account, Concentration Account and the Liquidation Account shall at all times be subject to a Lock-Box Agreement, a Concentration Account Agreement and a Liquidation Account Agreement, respectively. The Servicer Seller will not (and will not permit the Servicer to) deposit or otherwise credit, or cause or permit to be so deposited or credited, to any Lock- Lock-Box Account cash or cash proceeds other than Collections.
Appears in 1 contract