The Lockbox Account Sample Clauses

The Lockbox Account. (a) Processor (ABA No. 000000000) has established account number 662633247 (the “Lockbox Account”). Pursuant to the terms of the Indenture and during the term of this Agreement, and except as otherwise required by law (e.g., for purposes of attachment, execution and other forms of legal process), all collected funds held in the Lockbox Account shall be deemed to be the Trustee’s funds, and the Trustee will have exclusive right to control such funds and to make demand upon or otherwise require Processor to make payment of any such funds to any person. In the event a successor Processor has become Processor, the successor Processor’s notice of the new Lockbox Account pursuant to Section 16 shall amend and replace the Lockbox Account above without the execution or filing of any document or any further act by any of the parties to this Agreement.
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The Lockbox Account. (a) Processor (ABA No. ) has established account number (the “Lockbox Account”). Pursuant to the terms of the Indenture and during the term of this Agreement, and except as otherwise required by law (e.g., for purposes of attachment, execution and other forms of legal process), all collected funds held in the Lockbox Account shall be deemed to be the Trustee’s funds, and the Trustee will have exclusive right to control such funds and to make demand upon or otherwise require Processor to make payment of any such funds to any person. In the event a successor Processor has become Processor, the successor Processor’s notice of the new Lockbox Account pursuant to Section 16 shall amend and replace the Lockbox Account above without the execution or filing of any document or any further act by any of the parties to this Agreement.
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The Lockbox Account. (a) Prior to the Closing Date, the Servicer shall (i) establish and maintain the Lockbox Account, (ii) enter into the Lockbox Agreement and (iii) within thirty (30) days of the Closing Date, notify each Mortgagor to remit all payments with respect to the Mortgage Loans to the Lockbox Account. If, at any time, the Lockbox Account ceases to be maintained at the Lockbox Bank, the Servicer shall within ten (10) Business Days of obtaining actual knowledge of such cessation establish a new lockbox account which shall be an Account at a Designated Depository Institution, transfer any cash and/or any investments from the Lockbox Account to such new lockbox account and from the date such new lockbox account is established, it shall be the "Lockbox Account", provided that notice of such new lockbox account is given to each Rating Agency. In the event that a successor servicer is appointed, the Trustee, the Lockbox Bank and such successor servicer will enter into a new lockbox agreement replacing the Lockbox Agreement and such new lockbox agreement shall be the "Lockbox Agreement" for all purposes hereunder.
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The Lockbox Account. (i) The Trustee shall possess all right, title and interest in all moneys, instruments, securities and other property on deposit from time to time in the Lockbox Account established by the Servicer in accordance with Section 3.01 of the Servicing Agreement and the proceeds thereof for the benefit of the Secured Parties. The Lockbox Account shall be under the sole dominion and control of the Trustee for the benefit of the Secured Parties. The Servicer at all times shall maintain accurate records reflecting each transaction in the Lockbox Account, and funds held therein shall at all times be held in trust for the benefit of the Secured Parties.
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The Lockbox Account. (a) Processor (ABA No. 000000000) has established account number 662633171 (the “Lockbox Account”) in the name of the Trust. Pursuant to the terms of the Indenture and during the term of this Agreement, and except as otherwise required by law (e.g., for purposes of attachment, execution and other forms of legal process), all collected funds held in the Lockbox Account shall be deemed to be the Trustee’s funds, and the Trustee will have exclusive right to control such funds and to make demand upon or otherwise require Processor to make payment of any such funds to any person. In the event a successor Processor has become Processor, the successor Processor’s notice of the new Lockbox Account pursuant to Section 16 shall amend and replace the Lockbox Account above without the execution or filing of any document or any further act by any of the parties to this Agreement.
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The Lockbox Account. (i) The Seller has established with a Lockbox Bank each Lockbox Account, into which the Servicer shall deposit from time to time all monies, instruments and other property received by it as Proceeds of the Transferred Receivables. The Seller agrees that prior to a Termination Event the Operating Agent, and upon the occurrence and during the continuation of a Termination Event the Collateral Agent, shall have exclusive dominion and control of each Lockbox Account and all monies, instruments and other property from time to time in each Lockbox Account. The Seller will not make or cause to be made, or have any ability to make or cause, any withdrawals from any Lockbox Account, except as provided in Section 6.01(b)(ii).
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The Lockbox Account. For the benefit of the Holders, the Trust Depositor has established the Lockbox Account, bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Holders. Any Lockbox Bank must be approved by the Controlling Noteholder, and in maintaining the Lockbox Account, the Lockbox Bank shall agree in writing to comply with all instructions concerning the Lockbox Account originated by (i) prior to an Event of Default, the Trust Depositor, or (ii) after an Event of Default, the Controlling Noteholder (or the Trustee at the direction of the Controlling Noteholder), directing the disposition of funds in the Lockbox Account without the further consent of the Trust Depositor. Pursuant to this Agreement, the Receivables Purchase Agreement and the Servicing Agreement, the Trust Depositor, the Originator and the Servicer, respectively, will ensure that all Scheduled Payments on the Assets (and/or other collections thereon) will be directed to the Lockbox Account. Pursuant to the Lockbox Agreement, the funds in the Lockbox Account shall be swept daily by the Lockbox Bank into the Payment Account.
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The Lockbox Account. (i) On or prior to the Closing Date, the Borrower shall establish and shall, for the term of this Agreement until the Aggregate Unpaids have been paid in full, maintain a segregated deposit account at the Lockbox Account Bank and having account number 8026365223. The Lockbox Account shall be used for the purpose of receiving Collections on the Receivables and other Collateral (to the extent Collections consist of payments from or on behalf of Obligors by wire transfer or ACH, by deposit of payments made by check or as otherwise paid by or on behalf of Obligors) and making the distributions to the Collection Account described in this Article VI. Each of the Borrower and the Servicer agree that the Agent for the benefit of the Secured Parties shall have exclusive dominion and control of the Lockbox Account and all monies, instruments and other property from time to time in the Lockbox Account and no funds shall be transferred therefrom other than to the Collection Account without the consent or approval of the Agent.
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Related to The Lockbox Account

  • 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.

  • Lockbox Accounts The names and addresses of all the Lockbox Banks, together with the account numbers of the Lockbox Accounts of the Seller at each Lockbox Bank and the post office box numbers of the lockboxes, are listed on Schedule 6.1(o) (or have been notified to and approved by the Agents in accordance with Section 7.3(d)) and are the only post office boxes and accounts into which Collections of Receivables are deposited or remitted. The Seller has not granted any Person, other than the Administrative Agent for the benefit of the Secured Parties as contemplated by this Agreement, control of any lockbox or Lockbox Account, or the right to take control of any such lockbox or Lockbox Account at a future time.

  • Lock Box Account On or before the Closing Date, pursuant to the terms of the Cash Management Agreement, an Eligible Account shall be established in the name of Lender, as secured party hereunder, to serve as the "Lock Box Account" (said account, and any account replacing the same in accordance with this Loan Agreement and the Cash Management Agreement, the "LOCK BOX ACCOUNT"; and the depositary institution in which the Lock Box Account is maintained, the "LOCK BOX ACCOUNT BANK"). The Lock Box Account shall be under the sole dominion and control of Lender (which dominion and control may be exercised by Servicer); and except as expressly provided hereunder and/or in the Cash Management Agreement, the Borrowers shall not have the right to control or direct the investment or payment of funds therein during the continuance of an Event of Default. Lender may elect to change any financial institution in which the Lock Box Account shall be maintained if such institution is no longer an Eligible Bank, upon not less than five (5) Business Days' notice to the Borrower. The Lock Box Account shall be deemed to contain such sub-accounts as Lender may designate ("SUB-ACCOUNTS"), which may be maintained as separate ledger accounts and need not be separate Eligible Accounts. The Sub-Accounts shall include the following as more particularly described in the Cash Management Agreement:

  • Lock-Box Accounts The names and addresses of all of the Lock-Box Banks, together with the account numbers of the Lock-Box Accounts at such Lock-Box Banks, are specified in Schedule 6.1(n).

  • Deposits to Lock-Box Accounts Deposit or otherwise credit, or cause or permit to be so deposited or credited, to any Lock-Box Account cash or cash proceeds other than Collections of Pool Receivables.

  • Operating Account To the extent funds are not required to be placed in a lockbox pursuant to any Loan Documents, Property Manager shall deposit all rents and other funds collected from the operation of the Property in a reputable bank or financial institution in a special trust or depository account or accounts for the Property maintained by Property Manager for the benefit of the Company (such accounts, together with any interest earned thereon, shall collectively be referred to herein as the “Operating Account”). Property Manager shall maintain books and records of the funds deposited in and withdrawals from the Operating Account. With funds from Company, Property Manager shall maintain the Operating Account so that an amount at least as great as the budgeted expenses for such month is in the Operating Account as of the first of each month. From the Operating Account, Property Manager shall pay the operating expenses of the Property and any other payments relative to the Property as required by this Agreement. If more than one account is necessary to operate the Property, each account shall have a unique name, except to the extent any Lender requires sub-accounts within any account. Within three (3) months after receipt by Property Manager, all rents and other funds collected in the Operating Account, after payment of all operating expenses, debt service and such amounts as may be determined by the Property Manager to be retained for reserves or improvements, shall be paid to the Company.

  • Operating Accounts (a) Maintain its primary operating and other deposit accounts and securities accounts with Bank and Bank’s Affiliates.

  • Collection Accounts Section 3.11 Withdrawals from the Collection Accounts..................... Section 3.12 Investment of Funds in the Collection Accounts and the Distribution Account......................................... Section 3.13 Maintenance of Hazard Insurance and Errors and Omissions and Fidelity Coverage........................................ Section 3.14 Enforcement of Due-on-Sale Clauses; Assumption Agreements.... Section 3.15

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