Incorrect Distribution Sample Clauses

Incorrect Distribution. If any Secured Party receives any Proceeds of Collateral or any other Trust Monies or Prepayment Monies in an amount in excess of the amount such Person is entitled to receive under the terms hereof, such Person shall (a) hold such excess amount in trust for the benefit of the Collateral Trustee until paid over to the Collateral Trustee and (b) shall promptly pay such excess amount to the Collateral Trustee. The Collateral Trustee shall promptly distribute the amount so received in accordance with the terms of Section 3.4.
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Incorrect Distribution. If any Secured Party receives any proceeds in an amount in excess of the amount such Person is entitled to receive under the terms hereof, such Person shall (a) hold such excess proceeds in trust for the benefit of the Administrative Agent until paid over to the Administrative Agent and (b) shall promptly pay the excess amount of such proceeds to the Administrative Agent. The Administrative Agent shall promptly distribute the amount so received to the Secured Parties entitled thereto in accordance with the terms of this Section 2.18.
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Incorrect Distribution. If either Secured Party or any Lender receives any Proceeds of the Shared Collateral in an amount in excess of the amount such party is entitled to receive under the terms hereof, such party shall (a) hold such excess Proceeds in trust for the benefit of the Revolver Agent until paid over to the Revolver Agent and (b) shall promptly pay the excess amount of such Proceeds to the Revolver Agent. The Revolver Agent shall promptly distribute the amount so received to the parties entitled thereto as determined in accordance with Section 2.6(c) of this Agreement.
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Incorrect Distribution. If any Joined Secured Party receives any Proceeds in an amount in excess of the amount such Person is entitled to receive under the terms hereof, such Person shall: (a) notify the Collateral Agent in writing of the amount of such excess Proceeds, (b) hold such excess Proceeds in trust for the benefit of the Collateral Agent until paid over to the Collateral Agent and (c) promptly pay the excess amount of such Proceeds to the Collateral Agent. The Collateral Agent shall promptly distribute the Proceeds so received in accordance with the terms of Section 2.2.
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Incorrect Distribution. If any Creditor receives any proceeds in an amount in excess of the amount such Person is entitled to receive under the terms hereof, such Person shall (a) hold such excess proceeds in trust for the benefit of the Agent until paid over to the Agent and (b) shall promptly pay the excess amount of such proceeds to the Agent. The Agent shall promptly distribute the amount so received to the Creditors entitled thereto in accordance with the terms of this Section 2.17.
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Incorrect Distribution. If any Secured Party receives any Proceeds of Collateral or any other Collections in an amount in excess of the amount such Person is entitled to receive under the terms hereof or otherwise receives any amounts or property on account of any Collateral during the continuance of a Notice of Acceleration (or after the commencement of an Insolvency Proceeding) that is inconsistent with the priorities described in Section 3.5, such Person shall (a) hold such excess amount in trust for the benefit of the Collateral Agent until paid over to the Collateral Agent and (b) shall promptly pay such excess amount to the Collateral Agent or turn such property over to the Collateral Agent in the same form as received. The Collateral Agent shall promptly distribute the amount or property so received in accordance with the terms of Section 3.5.
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Incorrect Distribution. You agree to promptly return to us any assets mistakenly distributed to you.
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Incorrect Distribution. If Collateral Agent or any Bank receives any Proceeds in an amount in excess of the amount such party is entitled to receive under the terms hereof, such party shall (a) hold such excess Proceeds in trust for the benefit of the Collateral Agent until paid over to the Collateral Account and (b) shall promptly pay the excess amount of such Proceeds to the Collateral Agent. The Collateral Agent shall promptly distribute the amount so received to the parties entitled thereto.
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Related to Incorrect Distribution

  • Contract Distribution The Employer will provide all current and new employees with a link to the new Agreement. Each department or unit will maintain a paper copy of the contract accessible to all employees.

  • Final Distribution The Issuer shall give the Indenture Trustee at least 30 days written notice of the Payment Date on which the Noteholders of any Series, Class or Tranche may surrender their Notes for payment of the final distribution on and cancellation of such Notes. Not later than the fifth day of the month in which the final distribution in respect of such Series, Class or Tranche is payable to Noteholders, the Indenture Trustee shall provide notice to Noteholders of such Series, Class or Tranche specifying (i) the date upon which final payment of such Series, Class or Tranche will be made upon presentation and surrender of Notes of such Series, Class or Tranche at the office or offices therein designated, (ii) the amount of any such final payment and (iii) that the Record Date otherwise applicable to such payment date is not applicable, payments being made only upon presentation and surrender of such Notes at the office or offices therein specified (which, in the case of Bearer Notes, shall be outside the United States). The Indenture Trustee shall give such notice to the Note Registrar and the Paying Agent at the time such notice is given to Noteholders. (a) Notwithstanding a final distribution to the Noteholders of any Series, Class or Tranche of Notes (or the termination of the Issuer), except as otherwise provided in this paragraph, all funds then on deposit in any Issuer Account allocated to such Noteholders shall continue to be held in trust for the benefit of such Noteholders, and the Paying Agent or the Indenture Trustee shall pay such funds to such Noteholders upon surrender of their Notes, if certificated. In the event that all such Noteholders shall not surrender their Notes for cancellation within 6 months after the date specified in the notice from the Indenture Trustee described in paragraph (a), the Indenture Trustee shall give a second notice to the remaining such Noteholders to surrender their Notes for cancellation and receive the final distribution with respect thereto (which surrender and payment, in the case of Bearer Notes, shall be outside the United States). If within one year after the second notice all such Notes shall not have been surrendered for cancellation, the Indenture Trustee may take appropriate steps, or may appoint an agent to take appropriate steps, to contact the remaining such Noteholders concerning surrender of their Notes, and the cost thereof shall be paid out of the funds in the Collection Account or any Supplemental Issuer Accounts held for the benefit of such Noteholders. The Indenture Trustee and the Paying Agent shall pay to the Issuer any monies held by them for the payment of principal or interest that remains unclaimed for two years. After payment to the Issuer, Noteholders entitled to the money must look to the Issuer for payment as general creditors unless an applicable abandoned property law designates another Person.

  • Final Distributions Upon the winding up of the LLC, the assets must be distributed as follows: (a) to the LLC creditors; (b) to Members in satisfaction of liabilities for distributions; and (c) to Members first for the return of their contributions and secondly respecting their LLC interest, in the proportions in which the Members share in profits and losses.

  • Unbundled Sub-Loop Distribution Voice Grade (USLD-VG) is a copper sub- loop facility from the cross-box in the field up to and including the point of demarcation at the End User’s premises and may have load coils.

  • Hardship Distribution Upon the Board of Director's determination (following petition by the Executive) that the Executive has suffered an unforeseeable financial emergency as described in Section 2.2.2, the Company shall distribute to the Executive all or a portion of the Deferral Account balance as determined by the Company, but in no event shall the distribution be greater than is necessary to relieve the financial hardship.

  • How Do I Correct an Excess Contribution? If you make a contribution in excess of your allowable maximum, you may correct the excess contribution and avoid the 6% penalty tax under Section 4973 of the Internal Revenue Code for that year by withdrawing the excess contribution and its earnings on or before the due date, including extensions, of the tax return for the tax year for which the contribution was made (generally October 15th). Any earnings on the withdrawn excess contribution may be subject to a 10% early distribution penalty tax if you are under age 59½. In addition, in certain cases an excess contribution may be withdrawn after the time for filing your tax return. Finally, excess contributions for one year may be carried forward and applied against the contribution limitation in succeeding years.

  • Primary Distribution Discount Notes shall be issued and settled through the Fed Book-Entry System in same-day funds and shall be held by designated Fed Participants. After initial issue, all Discount Notes shall continue to be held by such Fed Participants in the Fed Book-Entry System unless arrangements are made for the transfer thereof to other Fed Participants. Discount Notes shall not be exchangeable for definitive Discount Notes.

  • Overtime Distribution The Employer and the Union will discuss Departmental or agency specific overtime distribution policies at the Departmental or agency level. The Employer agrees to follow its existing overtime distribution policies until changed as a result of Employer/Union negotiation.

  • When Must Distributions from a Xxxx XXX Begin Unlike Traditional IRAs, there is no requirement that you begin distribution of your account during your lifetime at any particular age.

  • Interim Distributions At such times as may be determined by it in its sole discretion, the Trustee shall distribute, or cause to be distributed, to the Beneficiaries, in proportion to the number of Trust Units held by each Beneficiary relating to the Trust, such cash or other property comprising a portion of the Trust Assets as the Trustee may in its sole discretion determine may be distributed without detriment to the conservation and protection of the Trust Assets in the Trust.

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