Common use of Payments from Obligor Lock–Boxes and Obligor Lock–Box Accounts Clause in Contracts

Payments from Obligor Lock–Boxes and Obligor Lock–Box Accounts. The Issuer agrees not to make, or permit to be made, any change, in the direction of, or instructions with respect to, any payments to be made by an Obligor Lock-Box Bank from any Obligor Lock-Box or any Obligor Lock-Box Account in any manner that would diminish, impair, delay or otherwise adversely effect the timing or receipt of such payments by the Lock-Box Bank or to change the name in which an Obligor Lock-Box or Obligor Lock-Box Account is maintained without the prior written consent of the Indenture Trustee and with the consent of the Majority Noteholders and the Hedge Counterparties. The Issuer further agrees to provide the Indenture Trustee promptly, but in no case later than one (1) Business Day after the Issuer's receipt, any notice it receives that an Obligor is changing the direction of or instructions with respect to any payments from any Obligor Lock-Box or any Obligor Lock-Box Account or the name in which an Obligor Lock-Box or Obligor Lock-Box Account is maintained.

Appears in 3 contracts

Samples: Indenture (Capitalsource Inc), Indenture (Capitalsource Inc), Indenture (Capitalsource Inc)

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Payments from Obligor Lock–Boxes and Obligor Lock–Box Accounts. The Issuer Trust Depositor agrees not to make, or permit to be made, any change, change in the direction of, or instructions with respect to, any payments to be made by an Obligor Lock-Box Bank from any Obligor Lock-Box or any Obligor Lock-Box Account in any manner that would diminish, impair, delay or otherwise adversely effect the timing or receipt of such payments by the Lock-Box Bank or to change the name in which an Obligor Lock-Box or Obligor Lock-Box Account is maintained without the prior written consent of the Indenture Trustee and with the consent of the Majority Noteholders and the Hedge Counterparties. The Issuer Trust Depositor further agrees to provide the Indenture Trustee promptly, but in no case later than one (1) Business Day after the IssuerTrust Depositor's receipt, any notice it receives that an Obligor is changing the direction of or instructions with respect to any payments from any Obligor Lock-Box or any Obligor Lock-Box Account or the name in which an any Obligor Lock-Box or Obligor Lock-Box Account is maintained.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Capitalsource Inc)

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