Common use of Disbursements of Misapplied Payments Clause in Contracts

Disbursements of Misapplied Payments. Upon receipt from the Calculation Agent of a Misapplied Payment Disbursement Letter, the Authority, the Trust, and the Collateral Agent shall review the details of the applicable Misapplied Payment and, if the Authority, the Trust and the Collateral Agent approve the disposition of the applicable Misapplied Payment contemplated by the Misapplied Payment Disbursement Letter (which approval shall not be unreasonably withheld if such Misapplied Payment Disbursement Letter describes a bona fide Misapplied Payment and sets forth a reasonably appropriate disposition thereof), the Collateral Agent shall, in its capacity as a “control party” under the XXXX, direct the Depositary Bank to disburse from the Clearing Account an amount in respect of such Misapplied Payment in accordance with the disbursement instructions therefor set forth in such Misapplied Payment Disbursement Letter; provided, however, that, unless otherwise agreed to by the Depositary Bank, the Depositary Bank shall not be required to make more than six (6) disbursements per calendar month and each disbursement shall be made solely by wire transfer.

Disbursements of Misapplied Payments. Upon receipt from the Calculation Agent of a Misapplied Payment Disbursement Letter, the Authority, the Trust, and the Collateral Agent shall review the details of the applicable Misapplied Payment and, if the Authority, the Trust and the Collateral Agent approve the disposition of the applicable Misapplied Payment contemplated by the Misapplied Payment Disbursement Letter (which approval shall not be unreasonably withheld if such Misapplied Payment Disbursement Letter describes a bona fide Misapplied Payment and sets forth a reasonably appropriate disposition thereof), the Collateral Agent shall, in its capacity as a “control party” under the XXXX, shall direct the Depositary Bank to disburse from the Clearing Account an amount in respect of such Misapplied Payment in accordance with the disbursement instructions therefor set forth in such Misapplied Payment Disbursement Letter; provided, however, that, unless otherwise agreed to by the Depositary Bank, the Depositary Bank shall not be required to make more than six (6) disbursements per calendar month and each disbursement shall be made solely by wire transfer.

Disbursements of Misapplied Payments. Upon receipt from the Calculation Agent of a Misapplied Payment Disbursement Letter, the Authority, the Trust, and the Collateral Agent shall review the details of the applicable Misapplied Payment and, if the Authority, the Trust and the Collateral Agent approve the disposition of the applicable Misapplied Payment contemplated by the Misapplied Payment Disbursement Letter (which approval shall not be unreasonably withheld if such Misapplied Payment Disbursement Letter describes a bona fide Misapplied Payment and sets forth a reasonably appropriate disposition thereof), the Collateral Agent shall[, in its capacity as a “control party” under the XXXX, ,] direct the Depositary Bank to disburse from the Clearing Account an amount in respect of such Misapplied Payment in accordance with the disbursement instructions therefor set forth in such Misapplied Payment Disbursement Letter; provided, however, that, unless otherwise agreed to by the Depositary Bank, the Depositary Bank shall not be required to make more than six (6) disbursements per calendar month and each disbursement shall be made solely by wire transfer.