Common use of Statement of Service Clause in Contracts

Statement of Service. Subject to the terms and conditions of this Agreement, Bank shall provide the Service to Customer. Pursuant to the Service, the Customer shall direct its trade debtors and/ or customers making payments and other remittances to Customer to mail any and all payments evidences by checks, drafts, money orders, or other instruments of payment (collectively, the “Items”) and certain documentation to a Post Office Box from which Customer has authorized Bank or Bank’s designated processor (“Processor”) to remove contents. Bank shall perform certain specified functions as selected by Customer on the Enrollment Request for Lockbox Services and deposit Items into Customer’s account.