Lockbox Payments Sample Clauses
The Lockbox Payments clause establishes a mechanism where payments due under an agreement are directed into a designated lockbox account, typically controlled by a third party or lender. In practice, this means that all incoming funds from specified sources, such as customer payments or receivables, are deposited directly into the lockbox, ensuring that the funds are collected and distributed according to pre-agreed priorities or instructions. This clause is primarily used to secure payment streams, provide transparency, and protect the interests of creditors or lenders by reducing the risk of misappropriation or diversion of funds.
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Lockbox Payments. Tenant shall pay Base Rent, Additional Rent or other charges under this Lease to a “lockbox” or other depository whereby checks issued in payment of such items are initially cashed or deposited by a person or entity other than Landlord (albeit on Landlord’s authority); for any and all purposes under this Lease: (i) Landlord shall not be deemed to have accepted such payment until the date on which such funds are actually received by Landlord or the “lockbox”, (ii) Landlord shall be deemed to have accepted such payment if (and only if) Landlord shall not have immediately refunded (or attempted to immediately refund) such payment to Tenant and (iii) Landlord shall not be bound by any endorsement or statement on any check or any letter accompanying any check or payment and no such endorsement, statement or letter shall be deemed an accord and satisfaction. Landlord or Landlord’s bank may accept such check or payment without prejudice to Landlord’s right to recover the balance of such rent or pursue any other remedy provided in this Lease, at law or in equity.
Lockbox Payments. Certegy processes lockbox payments. [*] * Fee adjustments for account base levels will be made monthly to be effective the beginning of the second month following the month being evaluated. For example, fees that correspond to the actual account base numbers for January will go into effect on March 1. MONTHLY FEES
Lockbox Payments. If Landlord directs Tenant to pay Base Rent, Additional Rent or other charges under this Lease to a “lockbox” or other depository whereby checks issued in payment of such items are Initially cashed or deposited by a person or entity other than Landlord (albeit on Landlord’s authority) then, for any and all purposes under this Lease: (i) Landlord shall not be deemed to have accepted such payment untll five (5) days after the date on which Landlord shall have actually received such funds, (ii) Landlord shall be deemed to have accepted such payment if (and only if) within said five (5)-day period, Landlord shall not have refunded (or attempted to refund) such payment to Tenant and (ill) Landlord shall not be bound by any endorsement or statement on any check or any letter accompanying any check or payment and no such endorsement, statement or letter shall be deemed an accord and satisfaction. Nothing in this Paragraph 4.2 shall require Tenant to pay Base Rent or Additional Rent prior to the first day of the 111onth as set forth in Paragraph 4.1 above and the date upon which the funds are received by the “lockbox” shall be the date upon which ▇▇▇▇▇▇▇▇ receives the funds for the purposes of determining whether Tenant is in default under Paragraph 16.1,1 (I) or whether interest or late fees are due pursuant to Paragraph 24.2 hereof. Landlord or Landlord’s bank may accept such check or payment without prejudice to Landlord’s right to recover the balance of such rent or pursue any other remedy provided In this Lease, at law or in equity. Landlord may change the “lockbox” address at any time during the Lease Term by providing Tenant with fifteen (15) days prior written notice.
Lockbox Payments. If Landlord directs Tenant to pay Base Rent, Additional Rent or other charges under this Lease to a “lockbox” or other depository whereby checks issued in payment of such items are initially cashed or deposited by a person or entity other than Landlord (albeit on Landlord’s authority) then, for any and all purposes under this Lease: (i) Landlord shall be deemed to have accepted such payment if (and only if) Landlord shall not have immediately refunded (or attempted to immediately refund) such payment to Tenant, and (ii) Landlord shall not be bound by any endorsement or statement on any check or any letter accompanying any check or payment and no such endorsement, statement or letter shall be deemed an accord and satisfaction. Landlord or Landlord’s bank may accept such check or payment without prejudice to Landlord’s right to recover the balance of such rent or pursue any other remedy provided in this Lease, at law or in equity.
Lockbox Payments. If Landlord shall direct Tenant to pay Base Rent or Additional Rent to a "lockbox" or other depository whereby checks are initially received by a person or entity other than Landlord (albeit on Landlord's authority), then, for any and all purposes under this Lease: (i) Landlord shall not be deemed to have accepted such payment until twenty (20) days after the date on which Landlord shall have actually received such funds; and (ii) Landlord shall be deemed to have accepted such payment if (and only if) within said twenty (20) day period, Landlord shall not have refunded (or attempted to refund) such payment to Tenant.
Lockbox Payments. Landlord shall at any time have the right to instruct Tenant to make payments required under this Lease to a lockbox at a financial institution of Landlord’s choosing. To the extent that Landlord instructs Tenant to make payments to such lockbox, Tenant shall thereafter deliver all its payments to the lockbox (unless and until otherwise instructed in writing) and such payments shall be deemed payment to Landlord. Landlord may revoke any such lockbox agency and such lockbox payment instructions by written notice to Tenant. Upon Landlord’s issuance of notice of revocation of the lockbox agency and instructions, Tenant shall make any and all further payments to such alternate address and location as directed by Landlord. Tenant shall follow all such payment instructions. In the event that Landlord has terminated either Tenant’s right to possession of the Premises or the Lease, or either of them, payments by Tenant to the lockbox may, if deposited through the lockbox, shall not reinstate the Lease or Tenant’s right of possession in the Premises, and such payments as are thereafter made to the lockbox may be refunded by Landlord without prejudice to Landlord’s exercise of remedies terminating Tenant’s right of possession or the Lease, and without reinstating the Lease or Tenant’s right of possession in the Premises.
Lockbox Payments. Certegy processes lockbox payments. [*] * Fee adjustments for account base levels will be made monthly to be effective the beginning of the second month following the month being evaluated. For example, fees that correspond to the actual account base numbers for January will go into effect on March 1. CERTEGY CARD SERVICES, INC. CARD SERVICES FOR CREDIT UNIONS, INC. SCHEDULE B SELF-ADMINISTERED CREDIT CARD PROGRAM FEES EFFECTIVE MARCH 1, 2004 THE FOLLOWING FEES APPLY TO EACH CREDIT UNION SEPARATELY (I.E., NOT CUMULATIVE). MONTHLY FEES