Common use of Use of Lockbox Clause in Contracts

Use of Lockbox. To designate a lockbox collection agent for -------------- collections of amounts due Landlord. In that case, the date of payment of Rent or other sums shall be the date of the agent's receipt of such payment or the date of actual collection if payment is made in the form of a negotiable instrument thereafter dishonored upon presentment. However, Landlord may reject any payment for all purposes as of the date of receipt or actual collection by mailing to Tenant within 21 days after such receipt or collection a check equal to the amount sent by Tenant, provided that Tenant in then in "Default" under the terms of this Lease (as defined in Section 13).

Use of Lockbox. To designate a lockbox collection agent for -------------- collections of amounts due Landlord. In that case, the date of payment of Rent or other sums shall be the date of the agent's ’s receipt of such payment or the date of actual collection if payment is made in the form of a negotiable instrument thereafter dishonored upon presentmentpresentation. However, Landlord may reject any payment for all purposes as of the date of receipt or actual collection by mailing to Tenant within 21 days a reasonable time after such receipt or collection a check equal to the amount sent by Tenant, Tenant provided that Tenant in is then in "“Default" ” under the terms of this Lease (as defined in Section 13).