Government Lockbox Account definition

Government Lockbox Account shall have the meaning assigned to such term in the Senior Subsidiary Security Agreement.
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Government Lockbox Account means with respect to any, an account or accounts maintained by such Borrower with Lockbox Bank into which all collections of Receivables on which Government Account Debtors are obligated are paid directly and such Government Lockbox Account shall be an account in the name of such Borrower, and shall be the sole and exclusive property of such Borrower.
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Government Lockbox Account means the deposit account and corresponding lockbox established at Mellon Bank and maintained with a Government Lockbox Account Bank, Account No.[0000000].
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Examples of Government Lockbox Account in a sentence

  • Each Borrower will not, and will not permit any of its Subsidiaries to, (i) forward any collections from any Government Account Debtor in the applicable Government Lockbox Accounts or the Government Lockboxes except as required under Section 4.8(i), or (ii) direct any Government Account Debtor to make a payment in respect of any Account in any place or account other than the applicable Government Lockbox Account or applicable Government Lockbox.

  • Notwithstanding anything to the contrary set forth in this Agreement, Agent waives any right of set off of funds on deposit in any Government Lockbox Account or any Government Lockbox against the Obligations under this Agreement except to the extent otherwise permitted under Applicable Law.

  • This Government Lockbox Account Agreement shall become effective immediately upon its execution by all parties hereto.

  • This Government Lockbox Account Agreement shall be governed by the laws of the State of New York.

  • The terms and conditions of the services, attached as Exhibit A, is made part of this Government Lockbox Account Agreement with respect to matters not explicitly covered in this Government Lockbox Account Agreement.

  • Each Borrower shall execute with Agent and the Lockbox Bank a Government Depositary Agreement with respect to each Government Lockbox Account and Government Lockbox.

  • The Grantor hereby provides the following revocable instruction with respect to the Government Lockbox Account (the “Standing Revocable Instruction”): the Government Lockbox Account Bank shall transfer from the Government Lockbox Account daily, via a zero balance service as described in the terms and conditions of the services, attached as Exhibit A, all available funds held in the Government Lockbox Account to account no.

  • In the event insufficient funds remain in the Lockbox Account to cover any overdrafts, the Grantor shall pay and indemnify the Government Lockbox Account Bank for the amounts of any overdrafts.

  • To the extent there is a conflict between this Government Lockbox Account Agreement and the terms and conditions of services, this Government Lockbox Account Agreement shall take precedence.

  • In the event that the Grantor does not pay such customary fees, charges and expenses due to the Government Lockbox Account Bank within ten (10) days after the due date, the Government Lockbox Account Bank is authorized to charge the Government Lockbox Account for such fees.


More Definitions of Government Lockbox Account

Government Lockbox Account is defined in the Senior Subsidiary Security Agreement.
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Government Lockbox Account means (a) each of the accounts identified on Schedule 7.1.(cc) as a Government Lockbox Account in the name of a Provider listed on Schedule 7.1.(cc) and associated with the Government Lockbox established and controlled by such Provider to deposit all cash collections, wire transfers, electronic funds transfers and other cash proceeds of Accounts from the applicable Governmental Authority listed on Schedule 7.1.(cc), including collections received in the associated Government Lockbox and collections received by wire transfer directly from applicable the Governmental Authority, and (b) each other account established as a Government Lockbox Account pursuant to Section 8.13.(b).
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Government Lockbox Account means (a) each of the accounts identified on Schedule 3.01(cc) as a Government Lockbox Account listed on Schedule 3.01(cc) established to deposit all cash collections, wire transfers, electronic funds transfers and other cash proceeds of Provider Accounts from the applicable Governmental Authority, including collections received by wire transfer directly from applicable the Governmental Authority and (b) each other account established as a Government Lockbox Account pursuant to Section 5.14(b).
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Related to Government Lockbox Account

  • Government Accounts means Accounts on which any federal or state governmental unit or any intermediary for any federal or state governmental unit is the Account Debtor.

  • Lockbox Account shall have the meaning set forth in Section 2.7.1 hereof.

  • Lockbox Accounts means the accounts maintained by Borrower at the Lockbox Banks into which all collections or payments on their Accounts and other Collateral are paid.

  • Lock-Box Account With respect to any Mortgaged Property, if applicable, any account created pursuant to any documents relating to a Mortgage Loan or Serviced Loan Combination to receive rental or other income generated by the Mortgaged Property. Any Lock-Box Account shall be beneficially owned for federal income tax purposes by the Person who is entitled to receive the reinvestment income or gain thereon in accordance with the terms and provisions of the related Mortgage Loan or Serviced Loan Combination and Section 3.07 of this Agreement, which Person shall be taxed on all reinvestment income or gain thereon.

  • Lockbox Account Agreement means any replacement agreement therefor among the Servicer, the Trust Collateral Agent and the Lockbox Bank.

  • Collection Accounts As defined in Section 3.10(a).

  • Locked Box Accounts means the unaudited accounts of the Group, consisting of a balance sheet as at the Locked Box Date in the Agreed Form;

  • Collection Account Agreement means each agreement substantially in the form of Exhibit VI, or such other form as may be acceptable to the Agent, among the applicable Originator, a Seller, Collection Bank and the Agent, as it may be amended, restated, supplemented or otherwise modified and in effect from time to time.

  • Collection Account Bank means any of the banks or other financial institutions holding one or more Collection Accounts.

  • Segregated Account means a client bank account as defined by and held in accordance with the Applicable Regulations.

  • Billing Account is the checking account from which all Service fees will be automatically debited.

  • Agency Account means any deposit account opened on the books of a Subcustodian or other banking institution in accordance with Section 7.1.

  • Agency Account(s means any deposit account opened on the books of a Subcustodian or other banking institution in accordance with Section 7.1 hereof.

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • Lockboxes has the meaning set forth in Section 2.7.

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

  • Lockbox Bank means a depository institution named by the Servicer and acceptable to the Controlling Party.

  • Deposit Account Agreement means the Deposit Account Agreement and Disclosure, as may be amended from time to time, issued by the Custodian and available on the Custodian’s internet customer portal, “xx.xxxxxxxxxxx.xxx”.

  • Client Account means the unique personalised account of the Client consisting of all Completed Transactions, Open Positions and Orders in the Trading Platform, the balance of the Client money and deposit/withdrawal transactions of the Client money.

  • Client Accounts means accounts of Clients (i) that are Controlled by an Access Person and (ii) in which no Access Person has a substantial proportionate economic interest; provided that, the Client pays a management, advisory or any other similar arms-length fee to the Access Person and the beneficiary of the Client Account is not an Immediate Family member of an Access Person.

  • Servicing Accounts The account or accounts created and maintained pursuant to Section 3.08.

  • deposits townsite means the townsite to be established on or near the mining areas pursuant to this Agreement;

  • Project Accounts means the Revenue Account, the Operating Account, the Maintenance Capital Expense Account, the Debt Service Reserve Account, the Insurance and Condemnation Proceeds Accounts and the Extraordinary Proceeds Account, including any sub-account within such accounts.

  • Project Account means the account referred to in Section 3.03 of this Agreement;

  • Operating Accounts shall have the meaning ascribed to it in Section 4.03.A.

  • Concentration Accounts has the meaning ascribed to it in Annex C.