Common use of Use of Lockbox Clause in Contracts

Use of Lockbox. To designate a lockbox collection agent or electronic transfer account for collections of amounts due Landlord. In that case, the date of payment of Rent or other sums shall be the date of the agent’s receipt of such payment or the date of actual collection if payment is made in the form of a negotiable instrument thereafter dishonored upon presentment. However, if Tenant is in default under this Lease, Landlord may reject any payment for all purposes as of the date of receipt or actual collection by mailing to Tenant within 21 days after such receipt or collection a check equal to the amount sent by Tenant.

Use of Lockbox. To designate a lockbox collection agent or electronic transfer account -------------- for collections of amounts due Landlord. In that case, the date of payment of Rent or other sums shall be the date of the agent’s 's receipt of such payment or the date of actual collection if payment is made in the form of a negotiable instrument thereafter dishonored upon presentment. However, if Tenant is in the event of any monetary default under this Leasebeyond any applicable cure period, Landlord may reject any payment for all purposes as of the date of receipt or actual collection by mailing to Tenant within 21 days after such receipt or collection a check equal to the amount sent by Tenant.

Use of Lockbox. To designate a lockbox collection agent or electronic transfer account for collections of amounts due LandlordLandlord or Sublandlord. In that case, the date of payment of Rent or other sums shall be the date of the agent’s 's receipt of such payment or the date of actual collection if payment is made in the form of a negotiable instrument thereafter dishonored upon presentment. However, if Tenant Subtenant is in default under this Leasebeyond any applicable cure period, Landlord Sublandlord may reject any payment for all purposes as of the date of receipt or actual collection by mailing to Tenant Subtenant within 21 days after such receipt or collection a check equal to the amount sent by TenantSubtenant.