Borrower Lockbox definition

Borrower Lockbox means each lockbox set forth on Schedule III hereto, established to receive checks and EOBs with respect to Receivables payable by Governmental Entities.
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Borrower Lockbox means the lockboxes set forth on Schedule IV hereto to receive checks with respect to Receivables payable by Governmental Entities.
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Examples of Borrower Lockbox in a sentence

  • No checks shall be issued, printed or honored with respect to the Borrower Lockbox Account.

  • No Credit Party shall, nor shall it permit any of the Borrower’s Subsidiaries to, settle or compromise any HC Claim or litigation or apply the HC Case Proceeds without the prior written consent of the Operating Committee and, in connection with any such settlement, the Credit Parties shall notify the relevant Payor that all proceeds of such settlement shall be paid to the Borrower Lockbox Account.

  • Borrowers shall establish and maintain ------------------------ with Agent one or more operating accounts for each Borrower (the "Operating Accounts") and lockbox accounts for each Borrower ("Lockbox Accounts"), the maintenance of each of which shall be subject to such rules and regulations as the Agent shall from time to time specify.

  • Upon the establishment of the Additional Borrower Lockbox and the Additional Borrower Cash Collateral Account, all references to the “Lockbox” and the “Cash Collateral Account” in the Loan Documents, shall include references to the Additional Borrower Lockbox and the Additional Borrower Cash Collateral Account, as applicable.

  • Agent shall collect the mail delivered to the Additional Borrower Lockbox, open such mail, and endorse and deposit all items to the Additional Borrower Cash Collateral Account.

  • On any day the Borrower or other Credit Party receives a Collection, the Borrower or such other Credit Party on behalf of itself and the Borrower, shall deposit (or cause to deposit), in cash, the amount of such Collection in the Borrower Lockbox Account for application in accordance with Section 2.11.

  • The taxpayer identification number associated with the Borrower Lockbox Account shall be that of the Borrower and the Borrower will report for federal, state and local income taxes, the income, if any, represented by the Borrower Lockbox Account.

  • Each Loan Party shall take all actions necessary to ensure that no payments from any Person other than a Governmental Entity shall be deposited in the Borrower Lockbox Accounts.

  • Each Additional Control Agreement shall provide that all funds deposited into the Additional Controlled Account will be swept daily into the Borrower Lockbox Account.

  • No later than five (5) Business Days after receipt by or on behalf of the Borrower of each bank statement in respect of the Borrower Lockbox Account, any other account into which proceeds from the HC Claims are received and the Borrower Operating Account, the Borrower shall deliver to the Administrative Agent, the Servicer and the Account Administrator true, correct and complete copies of the same.

Related to Borrower Lockbox

  • Borrower Loan means the mortgage loan made by the Governmental Lender to the Borrower pursuant to this Borrower Loan Agreement, in the maximum principal amount of the Borrower Loan Amount, as evidenced by the Borrower Note.

  • Borrower Loan Agreement means the Borrower Loan Agreement, of even date herewith, between the Governmental Lender and the Borrower, as supplemented, amended or replaced from time to time in accordance with its terms.

  • Blocked Accounts shall have the meaning set forth in Section 6.3 hereof.

  • Blocked Account has the meaning provided in Section 6.13(a)(ii).

  • Borrower Loan Documents shall have the meaning given such term in the Borrower Loan Agreement.