Lock Box Arrangement Sample Clauses

Lock Box Arrangement. All payments on Borrower's Receivables and ---- -------------------- on the Aggreko Receivable will be directed for deposit to a post office box designated by Bank, and over which Bank will exercise exclusive control. Borrower hereby agrees that Bank may, as Borrower's attorney in fact (which appointment shall be deemed coupled with an interest and shall be irrevocable during the term of this Agreement), take possession of all remittances to such post office box, endorse Borrower's name thereon, and deposit such remittances in Borrower's account for application to the Indebtedness. Borrower further agrees that Bank may take such other actions, for and on behalf of Borrower and in Borrower's name, place and stead, as may, in Bank's good faith judgment, be necessary or helpful to effect collection of Borrower's accounts and application of such collections to the Indebtedness.
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Lock Box Arrangement. If any Event of Default shall occur, the Bank may, in addition to any and all other remedies afforded to the Bank as per the terms of the Facility Documents, in its sole and absolute discretion, require the Borrower to commence a lock-box account arrangement with the Bank, on terms and conditions satisfactory to the Bank in all respects.
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Lock Box Arrangement. Upon request of the Lender, Borrowers agree that they shall enter into a lockbox arrangement with Lender in accordance with Lenders' customary procedures and documentation, in a manner acceptable to the Lender.
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Lock Box Arrangement. 43 7.14 Clean Down Period...............................................44
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Lock Box Arrangement. (a) Upon either (i) the occurrence of an Event of Default or (ii) March 31, 2001 so long as the Borrower or Clickship has not issued a minimum of $20,000,000 of additional equity securities, and so long as advances under the facility exceed $5,000,000 (each a "Lock-Box Event"), the Lender may in its sole discretion, require the Borrower to collect all Accounts and other Collateral for the Lender, receive all payments as the Lender's trustee, and immediately deposit them into a Payment Account established at the Lender's request, as the Lender may direct. On the effective date of this Agreement, Borrower shall establish a lock-box service for collection of Accounts with the Lender pursuant to documentation satisfactory to the Lender (the "Blocked Account Agreement") and shall execute and deliver all documents necessary or advisable to establish such Payment Account and upon the occurrence of a Lock-Box Event notify all Account Debtors to forward all payments owing to the Borrower directly to the Payment Account for the benefit of the Lender. Borrower agrees that it shall not open a bank or similar account after the Closing into which payments of Accounts are deposited without the express written consent of the Lender. Upon the occurrence of a Lock-Box Event, Borrower shall instruct all Account Debtors to make all payments directly to the address established for such service. If, notwithstanding such instructions, Borrower receives any Proceeds of Accounts, it shall receive such payments as the Lender's trustee, and shall immediately deliver such payments to the Lender in their original form duly endorsed in blank or deposit them into a Payment Account, as the Lender may direct. All collections received in the lock-box or Payment Account or directly by Borrower or the Lender, and all funds in any Payment Account or other account to which such collections are deposited, shall be the sole property of the Lender and subject to the Lender's sole control. The Lender or the Lender's designee may, at any time after the occurrence of a Lock-Box Event, notify obligors that the Accounts have been assigned to the Lender and of the security interest therein, and may collect them directly and charge the collection costs and expenses to Borrower's loan account as a Loan. Borrower shall execute and deliver to the Lender such documents as the Lender shall require to grant the Lender access to any post office box in which collections of Accounts are received.
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Lock Box Arrangement. If any Event of Default shall occur, the Agent may, in addition to any and all other remedies afforded to the Agent under this Agreement and the other Loan Documents, in its sole and absolute discretion, require the Borrowers to commence a lock-box account arrangement with the Agent on terms and conditions satisfactory to the Agent in all respects.
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Lock Box Arrangement. Within 60 days following the Fourth Amendment Effective Date, (i) the Borrower and its Subsidiaries shall enter into a lock-box arrangement with one or more lock-box banks relating to all of their receivables subject to the Security Documents, which arrangement (and the documentation governing such arrangement) shall be reasonably satisfactory in form and substance to the Collateral Agent and (ii) all lock-box banks shall enter into agreements with the Collateral Agent relating to all amounts deposited into the respective lock-box account on terms and conditions reasonably satisfactory to the Collateral Agent."
Sample 1
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Lock Box Arrangement. Upon the request of the Bank, the Borrower and the Guarantors shall establish Blocked Account(s) with the Collection Bank and shall direct all of their Account Debtors to make all payments due from them upon their respective Accounts directly to a lock box designated by the Bank and maintained by the Collection Agent pursuant to lock box agreements or other agreements in form and substance satisfactory to the Bank (the "LOCK BOX AGREEMENT(S)").
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Lock Box Arrangement. Bank and Borrower shall, upon request of Bank, -------------------- establish and maintain one or more special lock box or blocked accounts for the collection of the Accounts Receivables. Each such special account shall be with a bank satisfactory to the Bank (which may be an affiliate of the Bank) and shall be subject to the Bank's standard form agreement. The Borrow authorizes the Bank to receive and collect any amount or amounts due or to become due and to apply said monies to the repayment of the loan. Any checks or other remittances against Accounts Receivables which are received by the Borrower shall be held in trust for the Bank and turned over by the Borrower to the Bank or to a person designated by the Bank in the identical form received (except for any necessary endorsement) as speedily as possible. The Borrower specifically authorizes and directs the United State of America or any agency or department to make all payments due and to become due under the Contracts direct to the Bank.
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Related to Lock Box Arrangement

  • Escrow Arrangement The Company and the Purchaser shall enter into an escrow arrangement with Xxxxxxx Xxxxxx & Green, P.C. (the "Escrow Agent") in the Form of EXHIBIT B hereto respecting payment against delivery of the Shares.

  • Cash Management Arrangements Borrower shall cause all Rents to be transmitted directly by tenants of the Property into an Eligible Account (the “Clearing Account”) maintained by Borrower at a local bank selected by Borrower, which shall at all times be an Eligible Institution (the “Clearing Bank”) as more fully described in the Clearing Account Agreement. A form of tenant direction letter for such purpose is attached hereto as Schedule 1. Without in any way limiting the foregoing, all Rents received by Borrower or Manager shall be deposited into the Clearing Account within one (1) Business Day of receipt. Funds deposited into the Clearing Account shall be swept by the Clearing Bank on a daily basis into Borrower’s operating account at the Clearing Bank, unless a Cash Management Period is continuing, in which event such funds shall be swept on a daily basis into an Eligible Account at the Deposit Bank controlled by Lender (the “Deposit Account”) and applied and disbursed in accordance with this Agreement. Funds in the Deposit Account shall be invested at Lender’s discretion only in Permitted Investments. Lender will also establish subaccounts of the Deposit Account which shall at all times be Eligible Accounts (and may be ledger or book entry accounts and not actual accounts) (such subaccounts are referred to herein as “Subaccounts”). The Deposit Account and any Subaccount will be under the sole control and dominion of Lender, and Borrower shall have no right of withdrawal therefrom. Borrower shall pay for all expenses of opening and maintaining all of the above accounts.

  • Cash Management Agreement 11 SECTION 7 – TAXES, REPORTS AND RECORDS............................................................ 11

  • Arrangement Agreement This Plan of Arrangement is made pursuant to the Arrangement Agreement.

  • Escrow Arrangements Payment for the Securities shall be received by Prime Trust, LLC (the “Escrow Agent”) from the undersigned by transfer of immediately available funds, credit or debit card, or other means approved by the Company at least two days prior to the applicable Closing Date, in the amount as set forth on the signature page hereto. Upon such Closing Date, the Escrow Agent shall release such funds to the Company. The undersigned shall receive notice and evidence of the digital entry of the number of the Securities owned by undersigned reflected on the books and records of the Company and verified by StartEngine Secure LLC, (the “Transfer Agent”), which books and records shall bear a notation that the Securities were sold in reliance upon Regulation A.

  • Deposit Accounts; Credit Card Arrangements (a) Annexed hereto as Schedule 5.21(a) is a list of all DDAs maintained by the Loan Parties as of the Closing Date, which Schedule includes, with respect to each DDA (i) the name and address of the depository; (ii) the account number(s) maintained with such depository; (iii) a contact person at such depository, and (iv) the identification of each Blocked Account Bank.

  • The Arrangement At the Effective Time, the following shall occur and shall be deemed to have occurred in the following order without any further act or formality:

  • Change of Control Agreements Neither the execution and delivery of this Agreement nor the consummation of the Merger or the other transactions contemplated by this Agreement, will (either alone or in conjunction with any other event) result in, cause the accelerated vesting or delivery of, or increase the amount or value of, any payment or benefit to any director, officer or employee of the Company. Without limiting the generality of the foregoing, no amount paid or payable by the Company in connection with or by reason of the Merger or the other transactions contemplated by this Agreement, including accelerated vesting of options, (either solely as a result thereof or as a result of such transactions in conjunction with any other event) will be an “excess parachute payment” within the meaning of Section 280G of the Code.

  • Control Agreement A control agreement (the “Custodian Control Agreement”), duly executed and delivered by the Borrower, the Administrative Agent and State Street Bank and Trust Company.

  • FOREIGN CUSTODY ARRANGEMENTS The Foreign Custody Manager shall be responsible for performing the delegated responsibilities only with respect to Covered Foreign Countries. The Foreign Custody Manager shall list on Schedule A for a Covered Foreign Country each Eligible Foreign Custodian selected by the Foreign Custody Manager to maintain the Foreign Assets of the Portfolios with respect to the Covered Foreign Country. The list of Eligible Foreign Custodians may be amended from time to time upon notice in the sole discretion of the Foreign Custody Manager. This Agreement constitutes a Proper Instruction by a Fund, on behalf of each applicable Portfolio, to open an account, and to place and maintain Foreign Assets, for the Portfolio in each applicable Covered Foreign Country. The Fund, on behalf of the Portfolios, shall satisfy the account opening requirements for the Covered Foreign Country, and the delegation with respect to the Portfolio for the Covered Foreign Country will not be considered to have been accepted by the Custodian until that satisfaction. If the Foreign Custody Manager receives from the Fund Proper Instructions directing the Foreign Custody Manager to close the account, the delegation shall be considered withdrawn, and the Custodian shall immediately cease to be the Foreign Custody Manager with respect to the Portfolio for the Covered Foreign Country.

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