Nature of Lock-Box Accounts Sample Clauses

Nature of Lock-Box Accounts. Each Lock-Box Account constitutes a “deposit account” within the meaning of the applicable UCC.
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Nature of Lock-Box Accounts. Each U.S. Collection Account constitutes a “deposit account” within the meaning of the applicable UCC.
Nature of Lock-Box Accounts. Each Lock-Box Account constitutes a bank, deposit or similar account in which cash proceeds are deposited or held and each Lock-Box Account located in the United States of America constitutes a “deposit account” within the meaning of the applicable UCC.
Nature of Lock-Box Accounts. Each Lock-Box Account constitutes a “deposit account” within the meaning of the applicable UCC. 740811803 17540157

Related to Nature of Lock-Box Accounts

  • 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.

  • 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;

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