MAINTENANCE OF LOCKBOX Sample Clauses

MAINTENANCE OF LOCKBOX. The Company has rented and shall continue to rent the post office boxes in the name of the Company (the "Lockboxes") as and having the addresses set forth in the Schedule attached as Exhibit C hereto, and such other Lockboxes and addresses as the Bank upon request of the Company may approve from time to time. The Company shall notify all of its customers and Account Debtors to forward all Collections of every kind due the Company to one of the Lockboxes (such notices to be in such form and substance as the Bank may require from time to time). The Company shall establish and, unless otherwise directed by the Bank, maintain blocked accounts ("Blocked Accounts") with such other banks as are acceptable to the Bank, as set forth in each case in the Schedule attached as Exhibit C hereto (collectively, the "Lockbox Banks"). Each Lockbox Bank and the Company shall have entered into a Lockbox Agreement with respect to the Lockboxes controlled by such Lockbox Bank and with the Bank with respect to the Blocked Account maintained as such Lockbox Bank, each such Lockbox Agreement in form and substance satisfactory to the Bank. All collections from Account Debtors ("Collections") sent directly to the Lockboxes shall be deposited into the Blocked Account in accordance with the terms of the applicable Lockbox Agreement. The Company will promptly deposit all remittances from Account Debtors submitted to the Company ("Remittances"), in the identical form in which such Remittances were made (except for any necessary endorsements), whether by cash or check, into the applicable Blocked Account or the Cash Collateral Account established pursuant to Section 4.2 below. Only the Lockbox Banks, and to the extent not inconsistent with the applicable Lockbox Agreement, the Bank, shall have at all times sole access to the Lockboxes. The Company shall take all action necessary to grant the Lockbox Banks and, to the extent not inconsistent with the applicable Lockbox Agreements, the Bank such sole access. At no time shall the Company remove any item from any Lockbox without the Bank's prior written consent. The Company shall notify all customers or Account Debtors to pay all Collections to the Lockboxes and all payees to pay all Remittances to the Lockboxes, the Blocked Accounts or such Cash Collateral Account. The Company shall not instruct any Account Debtor or payee to pay any Collection or Remittance to any other place or address without the Bank's prior written consent. If the Comp...
Sample 1
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MAINTENANCE OF LOCKBOX. Subject to the rights of any other parties to the Underlying Transaction Documents, NAFI and the Borrower shall cause the lockbox account to which payments from the Obligors pursuant to the Underlying Transaction Documents are sent to be maintained at all times prior to the termination of this Agreement.
Sample 1
MAINTENANCE OF LOCKBOX. Borrower shall establish and maintain a lockbox arrangement acceptable to Lender. Such lockbox arrangement is currently evidenced by the Lockbox Service Agreement. Borrower shall pay all of Lender's standard fees and charges in connection with such lockbox arrangement as such fees and charges may change from time to time. Lender assumes no responsibility to Borrower for any lockbox arrangement, including any claim of accord and satisfaction or release with respect to any Payment Items accepted by any bank.
Sample 1

Related to MAINTENANCE OF LOCKBOX

  • Maintenance of Account In addition to, and not in lieu of, the obligation of the Securities Intermediary to honor entitlement orders as agreed in Section 3 hereof, the Securities Intermediary agrees to maintain the Account as follows:

  • Maintenance of Accounts If an institution maintaining the Bank Accounts ceases to be a Qualified Institution, the Servicer will, with the Indenture Trustee’s assistance as necessary, move the Bank Accounts to a Qualified Institution within 30 days.

  • Maintenance of Dominion Account Borrowers shall maintain Dominion Accounts pursuant to lockbox or other arrangements acceptable to Agent. Borrowers shall obtain an agreement (in form and substance satisfactory to Agent) from each lockbox servicer and Dominion Account bank, establishing Agent’s control over and Lien in the lockbox or Dominion Account, which may be exercised by Agent during any Sweep Trigger Period, requiring immediate deposit of all remittances received in the lockbox to a Dominion Account, and waiving offset rights of such servicer or bank, except for customary administrative charges. If a Dominion Account is not maintained with Bank of America, Agent may, during any Sweep Trigger Period, require immediate transfer of all funds in such account to a Dominion Account maintained with Bank of America. Agent and Lenders assume no responsibility to Borrowers for any lockbox arrangement or Dominion Account, including any claim of accord and satisfaction or release with respect to any Payment Items accepted by any bank.

  • Maintenance of Books The Company agrees to maintain, at its aforesaid office or agency, books for the registration and the registration of transfer of the Warrants.

  • Maintenance of Liquidity Seller shall ensure that, at all times, it has unrestricted cash and Cash Equivalents in an amount not less than the related Liquidity Amount.

  • Maintenance of Collateral Borrower will maintain the Collateral in good working condition, and Borrower will not use the Collateral for any unlawful purpose. Borrower will immediately advise Silicon in writing of any material loss or damage to the Collateral.

  • Maintenance of Aircraft Lessor shall be solely responsible for securing maintenance, preventive maintenance and inspections of the Aircraft (utilizing an inspection program listed in FAR Section 91.409(f)), and shall take such requirements into account in scheduling the Aircraft hereunder.

  • Maintenance of Business The Borrower shall, and shall cause each Subsidiary to, preserve and maintain its existence, except as otherwise provided in Section 8.10(c)

  • Maintenance of Collateral Accounts Maintain any Collateral Account except pursuant to the terms of Section 6.6(b) hereof.

  • MAINTENANCE OF DEPOSIT ACCOUNTS PSC shall maintain on behalf of Customer such deposit accounts as are necessary or desirable from time to time to enable PSC to carry out the provisions of this Agreement.

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