This study explores the reactivity of a new intermolecular P/B frustrated Lewis pair in the context of dinitrogen activation through a push-pull mechanism. The ab initio molecular dynamics model known as atom-centered density matrix propagation plays a pivotal role in elucidating the weakly associated encounter complex. In-depth analysis, mainly through intrinsic reaction coordinate calculations, supports a single-step mechanism. Notably, N2 activation is observed to proceed through a concerted mechanism, proving slightly endergonic in solvents like toluene and hexane. Furthermore, density functional theory calculations reveal that the N2 activation reaction becomes kinetically and thermodynamically favorable when it is subjected to a moderately oriented external electric field of 2.57 V nm-1 along the reaction axis. In addition, natural bonding orbital and extended transition state-natural orbitals for chemical valence analyses contribute to a more profound comprehension of the electron-transfer processes integral to the chemical reaction.