Acceptable Payee means Company’s name and any other payee name provided to Bank by Company as an acceptable payee for Checks to be processed under the Lockbox Service). Bank will process a check only if it is made payable to an Acceptable Payee and if the check is otherwise processable. Company warrants that each Acceptable Payee is either (i) a variation of Company’s name or (ii) is an affiliate of Company which has authorized Checks payable to it to be credited to the Account. Bank may treat as an Acceptable Payee any variation of any Acceptable Payee’s name that Bank deems to be reasonable. CHANGES TO PROCESSING INSTRUCTIONS Company may request Bank orally or in writing to make changes to the processing instructions (including changes to Acceptable Payees) for any Lockbox Address by contacting its Bank representative, so long as such changes do not conflict with the terms of the Deposit Account Control Agreement. Bank will not be obligated to implement any requested changes until Bank has actually received the requests and had a reasonable opportunity to act upon them. In making changes, Bank is entitled to rely on instructions purporting to be from Company. EXHIBIT B DEPOSIT ACCOUNT CONTROL AGREEMENT Letterhead of Lender To: Bank of America, N.A. Address Re: Name of Company Account No. Ladies and Gentlemen: Reference is made to the Deposit Account Control Agreement dated (the “Agreement”) among Company Name, us and you regarding the above-described account (the “Account”). In accordance with Section 2 of the Agreement, we hereby give you notice of our exercise of control of the Account and we hereby instruct you to transfer funds to our account as follows: Bank Name: Bank Address: ABA No.: Account Name: Account No.: Beneficiary’s Name: Very truly yours, as Lender By: Name: Title: ATTACHMENT I DEPOSIT ACCOUNT CONTROL AGREEMENT Letterhead of Lender , 20 Bank of America, N.A. Attn: Re: Termination of Deposit Account Control Agreement Account(s): Ladies and Gentlemen: Reference is made to that certain dated as of , 20 (as amended, supplemented, amended and restated or otherwise modified from time to time, the “Agreement”) among you, (the “Company”), and us as (‘Lender”). You are hereby notified that the Agreement is terminated with respect to the undersigned, and you have no further obligations to the undersigned thereunder. Notwithstanding any previous instructions to you, you are hereby instructed to accept all future directions with respect to the Account from the Compa...
Acceptable Payee means Company and each Other Payee.
Acceptable Payee means Client's name and any other payee name provided to Bank by Client as an acceptable payee for Checks to be processed under the Lockbox.
Examples of Acceptable Payee in a sentence
Customer shall be responsible for updating Acceptable Payees and notifying Bank of any discrepancies, and Bank shall have no liability for validating any Acceptable Payee.
Customer warrants that each Acceptable Payee is Customer, its Agent or one of its affiliates.
The names of Acceptable Payees will be specified to Bank by Customer; provided, however, Bank will not validate an Acceptable Payee through the Lockbox Service.
Bank may treat as an Acceptable Payee any variation of any Acceptable Payee’s name that Bank deems to be reasonable.
If any payee on the list of Acceptable Payees delivered to the Bank pursuant to the Supporting Documents is a legal entity other than you, you represent and warrant to the Bank and Processor(s) that you have the proper authorization from such payee: (i) to have such Check endorsed for deposit, and deposited, into the Lockbox Account; and (ii) for the Bank and any processor(s) to perform the Lockbox Service under this Service Description for such Acceptable Payee.
More Definitions of Acceptable Payee
Acceptable Payee means, with respect to the Lockbox Service, the names specified to Bank by Customer as the payee names that Bank may accept in connection with items received for deposit.
Acceptable Payee means your name and any other payee name provided to the Bank by you as an acceptable payee for Checks to be processed under the Lockbox; • You have completed all Supporting Documents applicable to the Lockbox Service and such other information and documents in a time and manner as the Bank requests to enable the Bank to commence and operate the Lockbox for you and to enable the Bank to comply with the Bank’s other obligations under this Service Description; • The Bank has completed all steps necessary to enable its Processor (as applicable) to service the Lockbox pursuant to this Service Description.
Acceptable Payee means a payee on an Item to be processed by us for deposit to your Account and which payee is listed as an Acceptable Payee on your Lockbox Service Request.
Acceptable Payee means Company’s name and any other payee name provided to Bank by Company as an acceptable payee for Checks to be processed under the Lockbox Service). Bank will process a check only if it is made payable to an Acceptable Payee and if the check is otherwise processable. Company warrants that each Acceptable Payee is either (i) a variation of Company’s name or (ii) is an affiliate of Company which has authorized Checks payable to it to be credited to the Account. Bank may treat as an Acceptable Payee any variation of any Acceptable Payee’s name that Bank deems to be reasonable. CHANGES TO PROCESSING INSTRUCTIONS Company may request Bank orally or in writing to make changes to the processing instructions (including changes to Acceptable Payees) for any Lockbox Address by contacting its Bank representative, so long as such changes do not conflict with the terms of the Deposit Account Control Agreement. Bank will not be obligated to implement any requested changes until Bank has actually received the requests and had a reasonable opportunity to act upon them. In making changes, Bank is entitled to rely on instructions purporting to be from Company. EXHIBIT B DEPOSIT ACCOUNT CONTROL AGREEMENT [Letterhead of Collection Agent] To: Bank of America N. A. 000 X XX Xxxxxx Xx. IL1-231-14-30 Chicago, IL 60604 Attention: Xxxxxx X. Xxxxxx Fax: 000-000-0000 Telephone: 000-000-0000 Xxxx xx Xxxxxxx X. A. 000 Xxxxx Xx X. 000-000-00-00 Toronto, ON M5V 3L2 Attention: Xxxxx Xxxx Fax: 000-000-0000 Telephone: 000-000-0000 Re: Celestica · Account No. · Account No. · Ladies and Gentlemen: Reference is made to the Deposit Account Control Agreement dated November ·, 2005 (the “Agreement”) among Celestica Corporation, us and you regarding the above-described accounts (the “Accounts”). In accordance with Section 2 of the Agreement, we hereby give you notice of the occurrence of a Termination Event and of our exercise of control of the Accounts: Very truly yours, DEUTSCHE BANK TRUST COMPANY AMERICAS as Collection Agent By: Name: Title: Tor#: 1627865.1 \SCHEDULE A LOCKBOX NUMBERS Celestica ·: (corresponding to Collection Account # ·) (corresponding to Collection Account # ·) SCHEDULE B COLLECTION ACCOUNT DETAILS Celestica EXHIBIT I November 23, 2005 Deutsche Bank Trust Company Americas 00 Xxxx Xxxxxx Xxx Xxxx, Xxx Xxxx 00000
Acceptable Payee means Company’s name and any other payee name provided to Bank by Company as an acceptable payee for Checks to be processed under the Lockbox Service). Bank will process a check only if it is made payable to an Acceptable Payee and if the check is otherwise processable. Company warrants that each Acceptable Payee is either (i) a variation of Company’s name or (ii) is an affiliate of Company which has authorized Checks payable to it to be credited to the Account. Bank may treat as an Acceptable Payee any variation of any Acceptable Payee’s name that Bank deems to be reasonable. CHANGES TO PROCESSING INSTRUCTIONS Company may request Bank orally or in writing to make changes to the processing instructions (including changes to Acceptable Payees) for any Lockbox Address by contacting its Bank representative, so long as such changes do not conflict with the terms of the Deposit Account Control Agreement. Bank will not be obligated to implement any requested changes until Bank has actually received the requests and had a reasonable opportunity to act upon them. In making changes, Bank is entitled to rely on instructions purporting to be from Company. EXHIBIT B DEPOSIT ACCOUNT CONTROL AGREEMENT [Letterhead of Wachovia] To: Bank of America, N.A. South Coast Financial Center BC 2nd Floor CA6-137-02-02 600 Xxxxx Xxxxxxxxx Xxxxx Xxxx, Xxxxxxxxxx 00000-0000 Attention: Sxxxx Xxxxx Bank of America 14th Floor, CA5-704-14-01 300 Xxxxxxxxxx Xxxxxx San Francisco, California 94104-1866 Attention: Sxxxxx Xxxx Re: Bxxx Microproducts Funding Corporation Account No. [ ] Ladies and Gentlemen: Reference is made to the Deposit Account Control Agreement, dated [ ], 2007 (the “Agreement”), among Bxxx Microproducts Funding Corporation, us and you regarding the above-described account (the “Account”). In accordance with Section 2 of the Agreement, we hereby give you notice of our exercise of control of the Account and we hereby instruct you to transfer funds to our account as follows: Bank Name: ABA No.: Account Name: Account No.: Very truly yours, WACHOVIA BANK, NATIONAL ASSOCIATION, as Agent By: Name: Title: EXHIBIT VII FORM OF ASSIGNMENT AGREEMENT THIS ASSIGNMENT AGREEMENT (this “Assignment Agreement”) is entered into as of the ___ day of , ____, by and between (“Assignor”) and (“Assignee”).
Acceptable Payee means Client or a payee different from Client’s legal name for whom Client has authority to accept or negotiate Checks.