Payment Item means each check, draft or other item of payment payable to a Borrower, including those constituting proceeds of any Collateral.

Payment Item each check, draft or other item of payment payable to a Borrower, including those constituting proceeds of any Collateral.

Payment Item means each check, draft, or other item of payment payable to a Credit Party, including those constituting Proceeds of any Collateral.

Examples of Payment Item in a sentence

If any Loan Party or Restricted Subsidiary receives cash or Payment Items with respect to any ABL Priority Collateral or any Payment Item not properly deposited by a lockbox servicer in accordance with the requirements set forth in Section 8.2.4, it shall hold same in trust for Agent and promptly deposit same into a DACA Deposit Account or, during a Cash Dominion Trigger Period, a Dominion Account for application to the Obligations in accordance with Section 5.5 or 5.6, as applicable.

More Definitions of Payment Item

Payment Item each check, draft or other item of payment payable to a Loan Party, including those constituting proceeds of any Collateral.

Payment Item each check, draft or other item of payment payable to a Borrower, including those constituting proceeds of any Collateral. PBGC: the Pension Benefit Guaranty Corporation.

Payment Item means all checks, drafts, or other items of payment payable to a Borrower or Canadian Credit Party, including proceeds of any of the Collateral.

Payment Item means each check, draft or other item of payment payable to a Grantor, including those constituting proceeds of any Collateral.

Payment Item means each check, draft, or other item of payment payable to the Borrower, including those evidencing or constituting proceeds of any of the Collateral.

Payment Item means any cash withdrawal or other payment instruction relating where applicable to your Account;

Payment Item means each check, draft or other item of payment payable to a Borrower, including those constituting proceeds of any Collateral. “PBGC” means the Pension Benefit Guaranty Corporation.