Lockbox Banks definition

Lockbox Banks means, collectively and each individually, the federally insured banks acceptable to Lender where Borrower who have granted security interests in a Lockbox Account shall maintain the Lockbox Accounts.

Lockbox Banks means, collectively, First Union National Bank and Key Bank National Association, together with any other depository institution which, upon the prior approval of the Agent, maintains a Lockbox and Lockbox Account pursuant to a Lockbox Account Agreement.

Lockbox Banks is defined in Section 2.12.

Examples of Lockbox Banks in a sentence

• Borrower, Foothill, and the Lockbox Banks shall enter into the Lockbox Agreements, which among other things shall provide for the opening of a Lockbox Account for the deposit of Collections at a Lockbox Bank.

• The receipt of any Collections by Foothill (whether from transfers to Foothill by the Lockbox Banks pursuant to the Lockbox Agreements or otherwise) immediately shall be applied provisionally to reduce the Obligations outstanding under Section 2.1, but shall not be considered a payment on account unless such Collection item is a wire transfer of immediately available federal funds and is made to the Foothill Account or unless and until such Collection item is honored when presented for payment.

• The Lockbox Agreement shall provide that Lockbox Banks will comply with the instructions originated by the Trustee relating to the disposition of funds on deposit in the Lockbox Account.

• The Servicer shall use its best efforts to cause Obligors to make all payments on the Contracts to one or more Lockbox Banks, acting as agent for the Trust pursuant to a Lockbox Agreement.

• The Servicer shall use its best efforts to cause Obligors to make all payments on the Contracts directly to one or more Lockbox Banks, acting as agent for the Trust pursuant to a Lockbox Agreement.

More Definitions of Lockbox Banks

Lockbox Banks means such banks as may be agreed to by Borrower and Foothill from time to time.

Lockbox Banks shall have the meaning provided in the Collateral Management Agreement.

Lockbox Banks has the meaning set forth in Section 4.11.

Lockbox Banks means the banks or investment firms listed opposite each Lockbox Account on Exhibit A hereto.

Lockbox Banks means each of Bank of America, N.A. and UMB Bank as lockbox bank under the applicable Depositary Agreement

Lockbox Banks has the meaning set forth in Section 3.11.

Lockbox Banks means Xxxxx Fargo Bank, National Association, or such other banks as may be agreed to by Foothill and Borrower from time to time.