Common use of Use of Lockbox Clause in Contracts

Use of Lockbox. To designate a lockbox collection agent for collections of amounts due Landlord (including designating a form of approved electronic payment in accordance with such instructions as Landlord may provide from time to time). 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, if Tenant is in default under this Lease, Landlord may reject any payment for all purposes as of the date of receipt or actual collection by mailing to Tenant, within twenty-one (21) days after such receipt or collection, a check equal to the amount sent by Tenant.

Use of Lockbox. To designate a lockbox collection agent for -------------- collections of amounts due Landlord (including designating a form of approved electronic payment in accordance with such instructions as Landlord may provide from time to time)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 presentment. However, if Tenant is in default under this LeaseLease at the time a payment is received by Landlord's collection agent, Landlord may reject any such payment for all purposes as of the date of receipt or actual collection by mailing to Tenant, Tenant within twenty-one (21) 21 days after such receipt or collection, collection a check equal to the amount sent by Tenant.