Lockbox Deposit Account definition

Lockbox Deposit Account has the meaning assigned to such term in the Guarantee and Collateral Agreement.
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Lockbox Deposit Account has the meaning ascribed to it in the Lockbox Account Agreement.
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Lockbox Deposit Account has the meaning specified in Section 2.6(a).
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Examples of Lockbox Deposit Account in a sentence

  • CLIENT will remit payment for fees or claims to Benecard Services, Inc., BENECARD PBF, JPMorgan Chase Bank, N.A. ABA #000000000, Beneficiary Name Benecard Services Inc., BENECARD PBF Lockbox Deposit Account, Account # 816864110.

  • Each Lockbox Deposit Account shall be, and shall remain, under the sole dominion and control of the Administrative Agent and, except in connection with a release pursuant to Section 5(c)(iii) of amounts deposited in the Lockbox deposit Accounts, no Grantor shall have any right of withdrawal from the Lockbox Deposit Accounts.

  • However, in this specific case the necessarily small number of fluorine atoms in the ab-initio model, in connection with the slow convergence of the P-F coordination number (discussed below), may interfere with the accurate evaluation of P-F bonding based on the AIMD data alone.

  • If the Borrower otherwise receives a payment or proceeds of Collateral directly, the Borrower will immediately deposit such payment or proceeds into the Lockbox Deposit Account.

  • Items of Payment remitted to the Lockbox Deposit Account will be processed in accordance with the Lockbox Account Agreement.

  • CLIENT will remit payment for fees or claims to Benecard Services, Inc., BENECARD PBF, JPMorgan Chase Bank, N.A. ABA #021000021, Beneficiary Name Benecard Services Inc., BENECARD PBF Lockbox Deposit Account, Account # 816864110.

  • Terex shall maintain its existing lockbox arrangements for the benefit of the Secured Parties with Bank of America, N.A. (the “Depositary Bank”), pursuant to the Lockbox Deposit Account Control Agreement (or a successor agreement substantially similar thereto) dated as of February 28, 2002, among Terex, Credit Suisse (formerly known as Credit Suisse First Boston), and the Depositary Bank, or, at the request of the Collateral Agent, shall enter into a substantially similar arrangement with Credit Suisse.

  • The Borrower will, at all times on and after the Lockbox Effective Date, (i) not commingle any Items of Payment received by it with any of its other funds or property, but instead segregate such Items of Payment from its other assets and hold them in trust and for the account and as the property of the Agent until depositing them in the Lockbox Deposit Account, and (ii) endorse any Item of Payment received by it for deposit into the Lockbox Deposit Account.


More Definitions of Lockbox Deposit Account

Lockbox Deposit Account as defined in Section 5.1(c)(i).
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Related to Lockbox Deposit Account

  • Deposit Account is any “deposit account” as defined in the Code with such additions to such term as may hereafter be made.

  • 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.

  • 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”.

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

  • Approved Deposit Account means a Deposit Account that is the subject of an effective Deposit Account Control Agreement and that is maintained by any Loan Party with a Deposit Account Bank. “Approved Deposit Account” includes all monies on deposit in a Deposit Account and all certificates and instruments, if any, representing or evidencing such Deposit Account.

  • Eligible Deposit Account means either (a) a segregated account with an Eligible Institution or (b) a segregated trust account with the corporate trust department of a depository institution organized under the laws of the United States of America or any one of the states thereof or the District of Columbia (or any domestic branch of a foreign bank), having corporate trust powers and acting as trustee for funds deposited in such account, so long as any of the securities of such depository institution shall have a credit rating from each Rating Agency in one of its generic rating categories that signifies investment grade.

  • Security Deposit Account has the meaning given in Section 5.1.

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

  • Designated Deposit Account is Borrower’s deposit account, account number , maintained with Bank.

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

  • Excluded Deposit Account means (a) any deposit account exclusively used for payroll, payroll taxes, and other employee wage and benefit payments to or for the benefit of Borrower’s employees and identified to Bank by Borrower as such and (b) any Xxxxx Cash Accounts.

  • Deposit Account Control Agreement means each deposit account control agreement among a Borrower, the Administrative Agent and the Account Bank, as the same may be amended, amended and restated, supplemented or otherwise modified from time to time.

  • 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.

  • Deposit Account Control Agreements means, with respect to each deposit account that is required by the Collateral Agreement to be subject to a control agreement, a deposit account control agreement executed by the Borrower, the Administrative Agent as the secured party thereto, and the deposit bank, as each may be amended, restated, supplemented or otherwise modified from time to time.

  • Controlled Deposit Account means each deposit account (including all funds on deposit therein) that is the subject of an effective Control Agreement and that is maintained by any Loan Party with a financial institution approved by the Administrative Agent.

  • 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.

  • Collection Account Control Agreement means that certain Account Control Agreement, dated as of the date hereof, by and among Seller, Buyer, and U.S. Bank National Association, in form and substance acceptable to Buyer, as the same may be amended, restated, supplemented or otherwise modified from time to time, and which shall provide for Buyer control of the Collection Account as of the date of execution.

  • Excluded Deposit Accounts means, collectively, (i) payroll and payroll taxes accounts, workers’ compensation accounts and other employee wage and benefit payment accounts and xxxxx cash accounts, (ii) trust accounts and (iii) deposit accounts other than Collection Accounts and Collateral Deposit Accounts (as each such term is defined in the Revolving Credit Agreement), so long as the aggregate amount on deposit in all such deposit accounts does not exceed $2,500,000 in the aggregate at any time.

  • Collateral Account Agreement means the Collateral Account Agreement executed and delivered by Company and Administrative Agent on the Closing Date, substantially in the form of EXHIBIT XXIII annexed hereto, as such Collateral Account Agreement may hereafter be amended, supplemented or otherwise modified from time to time.

  • Deposit Accounts means any “deposit accounts,” as such term is defined in the UCC, and includes any checking account, savings account, or certificate of deposit.

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

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

  • Excluded Account means (a) any deposit account specifically and exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of any Loan Party’s employees and (b) any Xxxxx Cash Accounts.

  • 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.

  • Deposit Account Bank means a financial institution selected or approved by the Administrative Agent.