Lockbox Method. Under the Lockbox Method, Mxxxxxxx agrees to deposit all Future Receipts into a special bank account established jointly by Purchaser and Merchant in accordance with a lockbox arrangement among Merchant, Purchaser and a banking institution chosen by Purchaser (the “Lockbox Account”), and Purchaser shall debit each week the Weekly Delivery Amount from the Lockbox Account.
Appears in 8 contracts
Samples: Agreement of Sale of Future Receipts (Sky Quarry Inc.), Agreement of Sale of Future Receipts (Sky Quarry Inc.), Agreement of Sale of Future Receipts (Sky Quarry Inc.)
Lockbox Method. Under the Lockbox Method, Mxxxxxxx agrees to deposit all Future Receipts into a special bank account established jointly by Purchaser and Merchant in accordance with a lockbox arrangement among Merchant, Purchaser and a banking institution chosen by Purchaser (the “"Lockbox Account”"), and Purchaser shall debit each week the Weekly Delivery Amount from the Lockbox Account.
Appears in 2 contracts
Samples: Agreement of Sale of Future Receivables (Marpai, Inc.), Agreement of Sale of Future Receipts (Sky Quarry Inc.)
