Common use of Processing Procedures Clause in Contracts

Processing Procedures. Items found acceptable for deposit under Section 2 of this Exhibit A will be encoded, photocopied, endorsed and deposited into the Deposit Account. The endorsement will be the standard endorsement for lockbox items as used by the Financial Institution from time to time, and this endorsement will function as the endorsement of the payee of the item. In order to maximize daily receipts and funds availability, the Financial Institution will make deposits throughout the day in anticipation of major check clearing deadlines. The Financial Institution will send the following to the Debtor in accordance with the Financial Institution's customary and standard practices for maintenance of a Deposit Account: (a) photocopies of deposited items and the original accompanying papers. (b) one deposit ticket copy for each deposit. (c) except as set forth in Section 2(g) of this Exhibit A, original items unacceptable for deposit under Section 2 of this Exhibit A, accompanying papers and other miscellaneous written communications received through the lockbox.