Source : Free On-Line Dictionary of Computing

chad box
     
         ({IBM} called this a "chip box") A metal box about
        the size of a lunchbox (or in some models a large
        wastebasket), for collecting the {chad} that accumulated in
        {Iron Age} {card punches}.  You had to open the covers of the
        card punch periodically and empty the chad box.
     
        The {bit bucket} was notionally the equivalent device in the
        {CPU} enclosure, which was typically across the room in
        another great grey-and-blue box.
     
        [{Jargon File}]
     
        (1996-11-20)