Canadian Lockbox definition

Canadian Lockbox has the meaning assigned to such term in Section 5.15(a).
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Canadian Lockbox means any lock box to be established and operated pursuant to Section 4.4 hereof and the Canadian Lockbox Agreement.
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Examples of Canadian Lockbox in a sentence

  • All monies, checks and other drafts received in the Canadian Lockbox shall be endorsed in accordance with the Lockbox Agreement and deposited by Canadian Lockbox Bank each Business Day in the Canadian Blocked Account.

  • All invoices issued by any Canadian Credit Party shall contain a notation requiring the Accounts evidenced by such invoice to be paid to the Canadian Lockbox.

  • All funds received by Canadian Administrative Agent from the Canadian Blocked Account or otherwise from the Canadian Lockbox Bank shall be applied to the Canadian Lender Indebtedness in the manner set forth in Section 2.11(d) herein.

  • At all times from and after the Closing Date, each Canadian Credit Party after the Closing Date shall direct all account debtors with respect to such Canadian Credit Party's accounts and all other Persons obligated to make payments of any type to any Canadian Credit Party to direct such payments to the Canadian Lockbox.

  • All of the Company's invoices, account statements and other written or oral communications directing, instructing, demanding or requesting payment of any Account of the Company or any other amount constituting Collateral shall conspicuously direct that all payments be made to the Canadian Lockbox or such other address as Laurus may direct in writing.

  • Canadian Lockbox Bank, shall have sole and exclusive access to the Canadian Lockbox.

  • The Canadian Borrowers acknowledge and agree that so long as this Agreement is in effect or any Canadian Lender Indebtedness shall be outstanding, all funds received by any Canadian Credit Party from any source (including without limitation items of payment and other amounts deposited in the Canadian Lockbox) shall be deposited in the Canadian Lockbox Account not later than one Business Day following the date of receipt.

  • At all times from and after the Closing Date, each Canadian Borrower shall direct all account debtors with respect to such Canadian Credit Party's accounts and all other Persons obligated to make payments of any type to any Canadian Credit Party to direct such payments to the Canadian Lockbox.

  • All invoices issued by any Canadian Credit Party during a Canadian Lockbox Direction Period shall contain a notation requiring the accounts evidenced by such invoice to be paid to the Canadian Lockbox.

  • All monies, checks and other drafts received in the Canadian Lockbox shall be endorsed in accordance with the Lockbox Agreement and deposited by Canadian Lockbox Bank each Business Day in a Canadian Lockbox Account.

Related to Canadian Lockbox

  • Letter of Credit Cash Collateral Account means a blocked deposit account at Bank of America with respect to which Borrower hereby grants a security interest in such account to Administrative Agent for and on behalf of Lenders as security for Letter of Credit Usage and with respect to which Borrower agrees to execute and deliver from time to time such documentation as Administrative Agent may reasonably request to further assure and confirm such security interest.

  • Canadian Loan means a Loan made to a Canadian Borrower denominated in Canadian Dollars.

  • Canadian Loan Party means any Loan Party organized under the laws of Canada or any province or territory thereof.

  • Letter of Credit Collateral Account means a special deposit account maintained by the Administrative Agent, for the benefit of the Administrative Agent, the Issuing Bank and the Lenders, and under the sole dominion and control of the Administrative Agent.

  • Cash Collateral Accounts shall have the meaning given such term in Section 9(a).

  • Facility LC Collateral Account is defined in Section 2.19.11.

  • L/C Cash Collateral Account means an account of the Borrower to be maintained with the Administrative Agent, in the name of the Administrative Agent and under the sole control and dominion of the Administrative Agent and subject to the terms of this Agreement.

  • Collateral Accounts means any and all accounts established and maintained by the Pledgee in the name of any Pledgor to which Collateral may be credited.

  • Canadian Loans means, individually and collectively as the context may require, the Canadian Revolving Loans, the Canadian Swingline Loans, the Canadian Overadvances and the Canadian Protective Advances.

  • Cash Collateral Account Agreement With respect to any Mortgage Loan, the cash collateral account agreement, if any, between the originator of such Mortgage Loan and the related Mortgagor, pursuant to which the related Cash Collateral Account, if any, may have been established.

  • LC Collateral Account has the meaning assigned to such term in Section 2.06(j).

  • Cash Collateral Account means a blocked account at a commercial bank specified by the Administrative Agent in the name of the Administrative Agent and under the sole dominion and control of the Administrative Agent, and otherwise established in a manner reasonably satisfactory to the Administrative Agent.

  • Canadian Loan Parties means the Canadian Borrower and the Canadian Guarantors.

  • Canadian Letter of Credit means each Letter of Credit issued hereunder for the account of the Canadian Borrower.

  • Canadian Swingline Lender means JPMorgan Chase Bank, N.A., Toronto Branch, in its capacity as lender of Canadian Swingline Loans hereunder.

  • L/C Cash Deposit Account means an interest bearing cash deposit account to be established and maintained by the Agent, over which the Agent shall have sole dominion and control, upon terms as may be satisfactory to the Agent.

  • Canadian Swingline Loan means any Loan made by the Canadian Swingline Lender pursuant to Section 2.12.

  • Canadian means one of the following: (a) a company or association incorporated or organized under the laws of Canada, or its designated representative(s) irrespective of nationality; (b) an agency of a federal, provincial, or local government in Canada, or its designated representative(s) irrespective of nationality; or (c) a self-representing individual who is a Canadian citizen residing in Canada.

  • Canadian Credit Party means the Canadian Borrower and each Canadian Subsidiary Guarantor.

  • Canadian Administrative Agent means JPMorgan Chase Bank, N.A., Toronto Branch, in its capacity as Canadian administrative agent for the Lenders hereunder.

  • Canadian Borrowers has the meaning specified in the preamble to this Agreement.

  • Collateral Account is any Deposit Account, Securities Account, or Commodity Account.

  • Canadian Obligations means all Obligations owing by the Canadian Borrower.

  • Canadian Borrowing Base means, at any time, an amount in Dollars equal to:

  • Class A Cash Collateral Account means, in respect of the Class A Liquidity Facility, an Eligible Deposit Account in the name of the Subordination Agent maintained at an Eligible Institution, which shall be the Subordination Agent if it so qualifies, into which amounts shall be deposited as referred to in Section 3.05(f).

  • Collateral Deposit Account shall have the meaning set forth in Section 7.1(a).