Processing Acceptable Checks Sample Clauses

Processing Acceptable Checks. All checks, except those not acceptable for deposit under the terms of this Agreement, shall be deposited on the day of receipt by the Bank to Account No. ______________________ (the "Depository Account"), and all such checks shall be endorsed as follows: credited to account number ________________: absence of endorsement hereby supplied and guaranteed by [Lock Box Bank] Any funds in the Depository Account will be wired on a daily basis with the following instructions: Wachovia Bank, National Association 000 Xxxxxxxxx Xxxxxx Xxxxxxx, XX 00000 Mail Code GA8056 30th Floor Attn: Xxxxxx X. X'Xxxxxx Account No.______________ For the account of the Borrowers ; provided, however, that no funds shall be required to be wired unless and until the amount of funds in the Depository Account shall be in excess of an aggregate of $1000, unless the Administrative Agent shall, in its sole discretion, otherwise instruct the Bank. All remittance advices, envelopes, and written matter (except as expressly provided herein) received in the Lock Box together with photocopies of all checks shall be sent to the Borrowers and, if requested by the Administrative Agent, copies of same shall be sent to the Administrative Agent. The Bank shall mail a statement of account, on a monthly basis, to both the Administrative Agent and the Borrowers. If no deposit is made on a bank business day, a deposit advice, correctly dated, will be sent to the Administrative Agent and the Borrowers with the notation "No Deposit" appearing thereon. In addition, the Company shall notify the Administrative Agent of the amount of the prior day's deposit total via facsimile on the next bank business day no later than 11:00 A.M. (Eastern time zone). The Depository Account shall be opened and established by the Borrowers for the benefit of the Administrative Agent on behalf of the Lenders and shall be subject to the terms and provisions of the Credit Agreement and the Security Agreement (as such term is defined in the Credit Agreement). Neither the Bank nor the Borrowers shall have the right to withdraw funds from the Depository Account, except that the Bank may make such debits therefrom as provided in Section 5 hereof.
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Processing Acceptable Checks. All checks, except those not acceptable for deposit under the terms hereof, shall be deposited on the day of receipt by the Bank to Account No. [______] at the Bank (the "Collection Account"), which is an account owned and controlled exclusively by Collateral Agent, and all such checks shall be endorsed as follows: credited to account number [_________]; absence of endorsement hereby supplied and guaranteed by [Lockbox Bank] Any available funds in the Collection Account will be wired no later than 2:00 p.m. (New York time) each Business Day with the following instructions:
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Processing Acceptable Checks. Acceptable checks shall be accepted as received and processed in the following manner:
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Processing Acceptable Checks. All checks, except those not acceptable for deposit under the terms of this Agreement, shall be deposited on the day of receipt by the Bank to Account No. 1561678150 (the "LENDER ACCOUNT"), which is an account owned and controlled exclusively by the Agent, and all such checks shall be endorsed as follows: credited to account number 1561678150; absence of endorsement hereby supplied and guarantied by Bank One Texas, NA;
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Processing Acceptable Checks 
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Related to Processing Acceptable Checks

  • Data Collection, Processing and Usage The Company collects, processes and uses the International Participant’s personal data, including the International Participant’s name, home address, email address, and telephone number, date of birth, social insurance number or other identification number, salary, citizenship, job title, any shares of Common Stock or directorships held in the Company, and details of all Equity Awards or any other equity compensation awards granted, canceled, exercised, vested, or outstanding in the International Participant’s favor, which the Company receives from the International Participant or the Employer. In granting the Equity Award under the Plan, the Company will collect the International Participant’s personal data for purposes of allocating shares of Common Stock and implementing, administering and managing the Plan. The Company’s legal basis for the collection, processing and usage of the International Participant’s personal data is the International Participant’s consent.

  • Collections Payment Processing Remittance (a) Collection Efforts, Policies, Procedures.

  • Direction to Account Debtors; Contracting Parties; etc Upon the occurrence and during the continuance of an Event of Default, if the Collateral Agent so directs (acting on the instructions of the requisite percentage of Holders in accordance with the Indenture) any Assignor, such Assignor agrees (x) to cause all payments on account of the Accounts and Contracts to be made directly to the Cash Collateral Account, (y) that the Collateral Agent may, but has no obligation to, directly notify the obligors with respect to any Accounts and/or under any Contracts to make payments with respect thereto as provided in the preceding clause (x), and (z) that the Collateral Agent may enforce collection of any such Accounts and Contracts and may adjust, settle or compromise the amount of payment thereof, in the same manner and to the same extent as such Assignor. Without notice to or assent by any Assignor, the Collateral Agent may, upon the occurrence and during the continuance of an Event of Default, apply any or all amounts then in, or thereafter deposited in, the Cash Collateral Account toward the payment of the Secured Obligations in the manner provided in Section 7.4 of this Agreement. The reasonable costs and expenses of collection (including reasonable attorneys’ fees), whether incurred by an Assignor or the Collateral Agent, shall be borne solely by the relevant Assignor. The Collateral Agent shall deliver a copy of each notice referred to in the preceding clause (y) to the relevant Assignor, provided that (x) the failure by the Collateral Agent to so notify such Assignor shall not affect the effectiveness of such notice or the other rights of the Collateral Agent created by this Section 3.3 and (y) no such notice shall be required if an Event of Default of the type described in Section 7.01(i) or (j) of the Indenture has occurred and is continuing.

  • Concentration Account Concentration Account" has the meaning set forth in Section 2.3.

  • Control Accounts; Approved Deposit Accounts Each Loan Party shall (i) deposit in an Approved Deposit Account all Cash it receives, (ii) not establish or maintain any Securities Account or Commodities Account that is not a Control Account and (iii) not establish or maintain any Deposit Account other than an Approved Deposit Account, provided however that notwithstanding the foregoing, each Loan Party may (w) maintain zero-balance accounts for the purpose of managing local disbursements and collections and may maintain payroll, withholding tax and other fiduciary accounts, (x) maintain accounts into which amounts are paid by a governmental entity pursuant to one or more Health Care Laws so long as the amounts on deposit therein are transferred each Business Day to an Approved Deposit Account or any other account permitted to be so utilized under this Section 5.14, (y) maintain other accounts as long as the aggregate monthly average daily balance over the immediately preceding 12-month period for all such Loan Parties in all such other accounts does not exceed $3,000,000 at any time and (z) make pledges or cash deposits permitted by Section 6.02.

  • Lockbox The Secured Party may, by notice to the Debtor, require the Debtor to direct each of its account debtors to make payment directly to a special lockbox to be under the control of the Secured Party. The Debtor hereby authorizes and directs the Secured Party to deposit all checks, drafts and cash payments received in said lockbox into the collateral account established as set forth above.

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