Lockbox and Blocked Accounts Sample Clauses

Lockbox and Blocked Accounts. Create, establish or otherwise maintain any lockbox, depository or other accounts at any bank or other financial institution other than the Lockbox Accounts and Blocked Accounts set forth on Exhibit M and the Exempt Accounts set forth on Exhibit P, at the bank(s) identified on Exhibit M and Exhibit P respectively (or such other bank(s) to which the Agent shall give prior written consent), or allow, permit or otherwise cause the aggregate amount in the Exempt Accounts to exceed $400,000 at any one time, on a cumulative basis."
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Lockbox and Blocked Accounts. Agent shall have received duly executed agreements establishing the Lockbox with Agent and the Blocked Accounts or Depository Accounts with financial institutions acceptable to Agent for the collection or servicing of the Receivables and proceeds of the Collateral;
Sample 1
Lockbox and Blocked Accounts. All collections, payments and other proceeds of accounts purchased by Lender pursuant to the Accounts Purchase Agreements shall be processed and applied as provided therein. All collections, payments and other proceeds of any collateral at any time received by Borrowers or Guarantors shall be delivered forthwith to Lender in the form received for deposit to a blocked collection account under the sole control of Lender, and applied to the Indebtedness in Lender's discretion at such time as Lender has received final credit therefor in accordance with normal banking practices (at least two (2) Business Days shall be allowed for collection of all items through normal banking channels).
Sample 1
Lockbox and Blocked Accounts. Within five (5) Business Days of the Amendment Effective Date, Borrowers shall have established the lockbox and blocked accounts satisfying the requirements of Section 7.17 of the Credit Agreement with banks as are acceptable to Agent and pursuant to terms and conditions satisfactory to Agent.
Sample 1

Related to Lockbox and Blocked Accounts

  • Blocked Accounts Agent shall have received duly executed agreements establishing the Blocked Accounts or Depository Accounts with financial institutions acceptable to Agent for the collection or servicing of the Receivables and proceeds of the Collateral;

  • Blocked Account The Blocked Account referred to in Section 2.10(c) hereof shall have been established to the satisfaction of FINOVA in its sole discretion;

  • Lockbox Accounts The names and addresses of all the Lockbox Banks, together with the account numbers of the Lockbox Accounts of the Seller at each Lockbox Bank and the post office box numbers of the lockboxes, are listed on Schedule 6.1(o) (or have been notified to and approved by the Agents in accordance with Section 7.3(d)) and are the only post office boxes and accounts into which Collections of Receivables are deposited or remitted. The Seller has not granted any Person, other than the Administrative Agent for the benefit of the Secured Parties as contemplated by this Agreement, control of any lockbox or Lockbox Account, or the right to take control of any such lockbox or Lockbox Account at a future time.

  • Lockboxes Upon request of the Administrative Agent after the occurrence and during the continuance of a Default, each Grantor shall execute and deliver to the Administrative Agent irrevocable lockbox agreements in the form provided by or otherwise acceptable to the Administrative Agent, which agreements shall be accompanied by an acknowledgment by the bank where the lockbox is located of the Lien of the Administrative Agent granted hereunder and of irrevocable instructions to wire all amounts collected therein to a special collateral account at the Administrative Agent.

  • Lockbox Bank All Obligors have been instructed to make payments to a Lockbox Account (either directly by remitting payments to a Lockbox, or indirectly by making payments through direct debit, the telephone or the internet to an account of the Servicer which payments will be subsequently transferred from such account to one or more Lockbox Banks), and no person claiming through or under Seller has any claim or interest in a Lockbox Account other than the related Lockbox Bank; provided, however, that other Persons may have an interest in certain other collections therein not related to the Contracts.

  • Lock-Box Accounts The names and addresses of all of the Lock-Box Banks, together with the account numbers of the Lock-Box Accounts at such Lock-Box Banks, are specified in Schedule 6.1(n).

  • Lockbox The Secured Party may, by notice to the Debtor, require the Debtor to direct each of its account debtors to make payments due under the relevant account or chattel paper directly to a special lockbox to be under the control of the Secured Party. The Debtor hereby authorizes and directs the Secured Party to deposit all checks, drafts and cash payments received in said lockbox into the collateral account established as set forth above.

  • Lockbox Account Each Obligor has been, or will be, directed to make all payments on their related Receivable to the Lockbox Processor for deposit into the Lockbox Account.

  • Lock-Box Accounts, Escrow Accounts Except with respect to the Outside Serviced Mortgage Loans, the Master Servicer shall administer each Lock-Box Account and Escrow Account in accordance with the related Mortgage or Loan Agreement or Lock-Box Agreement, if any, and administer any letters of credit pursuant to the related letter of credit agreement and the Loan Documents. Notwithstanding the foregoing, to the extent that any cash amounts are held in an Escrow Account or other cash collateral account and the mortgagee under the related Loan Documents is permitted, but not required, to apply such amounts to prepay the related Mortgage Loan (or Serviced Loan Combination), neither the Master Servicer nor the Special Servicer shall apply such amounts to prepay the Mortgage Loan (or Serviced Loan Combination) until after the occurrence of an event of default under the Mortgage Loan that may result in the Mortgage Loan (or Serviced Loan Combination) being accelerated or becoming a Specially Serviced Loan.

  • Collateral Accounts Evidence that the Collateral Accounts have been established;

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