Common use of Processing Acceptable Checks Clause in Contracts

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.

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 granted by [Lock Box Bank] Any funds in the Depository Account will be wired on a daily basis with the following instructions: Wachovia BankFirst Union Commercial Corporation One First Union Center 301 Xxxxx Xxxxxxx Xxxxxx Xxxxxxxxx, National Association 000 Xxxxxxxxx Xxxxxx Xxxxxxx, XX Xxxxx Xxxxxxxx 00000 Mail Code GA8056 30th Floor Attn: Xxxxxx X. X'Xxxxxx Account No._. _____________ For the account of the Borrowers Borrower; 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 Borrower 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 BorrowersBorrower. 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 Borrower with the notation "No Deposit" appearing thereon. In addition, the Company Bank (or at any time prior to the occurrence of an Event of Default, the Borrower) shall notify indicate by telephone to the Administrative Agent of the amount of the prior day's deposit total via facsimile on the next bank each Bank business day no later than 11:00 A.M. by 2:30 P.M. (Eastern time zone)) the amount of each day's deposit total. The Depository Account shall be opened and established by the Borrowers Borrower 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 Borrower 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.

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 "Lender Account"), which if an Event of Default has occurred and is continuing is an account owned and controlled exclusively by the Agent, and all such checks shall be endorsed as follows: credited to account number ; absence of endorsement hereby supplied and guarantied by [insert name of Bank]; Until a Notice of Redirection substantially in the form of Exhibit A hereto (a "Notice") is delivered by Agent to Bank, all available balances in the Lender Account will be transferred on a daily basis via the automated clearing house system or wire transfer with the following instructions: ________________ (the "Depository Account"), and all such checks shall be endorsed _______________ [ABA No. ______________] Account No. _____________ Account Name: ____________ as followsAgent for ___________ Ref.: credited to account number _____________ Attn: ________________: absence _ Upon the delivery of endorsement hereby supplied and guaranteed a Notice by [Lock Box Bank] Any funds in the Depository Account will be wired on a daily basis with the following instructions: Wachovia Agent to 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 Bank shall transfer such funds shall be required to be wired unless and until the amount of funds only as provided 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 Banksuch Notice. 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 Company and, if requested by the Administrative Agent, copies of same shall be sent to the Administrative Agent. The Bank shall mail both a deposit advice for all deposits to the Lender Account, on a daily basis, and a statement of account, on a monthly basis, to both the Administrative Agent and the Borrowers. If Company and, 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 Company with the notation "No Deposit" ' appearing thereon. In addition, Bank shall indicate by telephone to the Company shall notify the Administrative Agent of on each Bank business day by 2:30 P.M. New York City time the amount of the prior each 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 hereoftotal.

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 AccountCOLLECTION 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 ________________: _; absence of endorsement hereby supplied and guaranteed by [Lock Box Bank] ____________________ Any funds in the Depository Collection Account will be wired on a daily basis with the following instructions: Wachovia BankBankers Trust Company/Money Transfer Division 1 BT Plaza for further credit to: BT Commercial Corporation 00 Xxxx Xxxxxx -- Xxxxx X Xxx Xxxx, National Association 000 Xxxxxxxxx Xxxxxx Xxxxxxx, XX Xxx Xxxx 00000 Mail Code GA8056 30th Floor Attn: Xxxxxx X. X'Xxxxxx ________________________ Account No.. ___________________ For the account of the Borrowers Borrower ; providedPROVIDED, howeverHOWEVER, that no funds shall be required to be wired unless and until the amount of funds in the Depository Collection 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 Lockbox together with photocopies of all checks shall be sent to the Borrowers Borrower and, if requested by the Administrative Agent, copies of same shall be sent to the Administrative Agent. The Bank shall mail both a deposit advice for all deposits to the Collection Account, on a daily basis, and a statement of account, on a monthly basis, to both the Administrative Agent and the Borrowers. If Borrower and, 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 Borrower with the notation "No Deposit" appearing thereon. In addition, the Company Bank shall notify indicate by telephone to the Administrative Agent of on each Bank business day by 2:30 p.m. (New York City time) the amount of the prior each 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 hereoftotal.

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 BankFirst Union Commercial Corporation One First Union Center 301 Xxxxx Xxxxxxx Xxxxxx Xxxxxxxxx, National Association 000 Xxxxxxxxx Xxxxxx Xxxxxxx, XX Xxxxx Xxxxxxxx 00000 Mail Code GA8056 30th Floor Attn: Xxxxxx X. X'Xxxxxx Account No.______________ For the account of the Borrowers Borrower ; 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 Borrower 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 BorrowersBorrower. 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 Borrower with the notation "No Deposit" appearing thereon. In addition, the Company Bank shall notify indicate by telephone to the Administrative Agent of the amount of the prior day's deposit total via facsimile on the next bank each Bank business day no later than 11:00 A.M. by 2:30 P.M. (Eastern time zone)) the amount of each day's deposit total. The Depository Account shall be opened and established by the Borrowers Borrower 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 Borrower 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.

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 AccountLENDER 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 ________________: ; absence of endorsement hereby supplied and guaranteed guarantied by [Lock Box Lockbox Bank] Any funds ]; Until a Notice of Redirection substantially in the Depository form of Exhibit A hereto (a "NOTICE") is delivered by Agent to Bank, all available balances in the Lender Account will be wired transferred on a daily basis via the automated clearing house system or wire transfer with the following instructions: Wachovia ---------------- ---------------- [ABA No. ] ---------------- Account No. ---------------- Account Name: as Agent for ---------------- -------------- Ref.: --------------- Attn: --------------- Upon the delivery of a Notice by Agent to 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 Bank shall transfer such funds shall be required to be wired unless and until the amount of funds only as provided 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 Banksuch Notice. 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 Company and, if requested by the Administrative Agent, copies of same shall be sent to the Administrative Agent. The Bank shall mail both a deposit advice for all deposits to the Lender Account, on a daily basis, and a statement of account, on a monthly basis, to both the Administrative Agent and the Borrowers. If Company and, 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 Company with the notation "No Deposit" ' appearing thereon. In addition, Bank shall indicate by telephone to the Company shall notify the Administrative Agent of on each Bank business day by 2:30 P.M. New York City time the amount of the prior each 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 hereoftotal.