Incorrect Payment. If the Administrative Agent (x) notifies a Lender or any Person who has received funds on behalf of a Lender (any such Lender or other recipient, a “Payment Recipient”) that the Administrative Agent has determined in its sole discretion (whether or not after receipt of any notice under immediately succeeding clause (b)) that any funds (as set forth in such notice from the Administrative Agent) received by such Payment Recipient from the Administrative Agent or any of its Affiliates were erroneously or mistakenly transmitted to, or otherwise erroneously or mistakenly received by, such Payment Recipient (whether or not known to such Lender or other Payment Recipient on its behalf) (any such funds, whether transmitted or received as a payment, prepayment or repayment of principal, interest, fees, distribution or otherwise, individually and collectively, an “Erroneous Payment”) and (y) demands in writing the return of such Erroneous Payment (or a portion thereof), such Erroneous Payment shall at all times remain the property of the Administrative Agent pending its return or repayment as contemplated below in this Section 8.09 and held in trust for the benefit of the Administrative Agent, and such Lender shall (or, with respect to any Payment Recipient who received such funds on its behalf, shall cause such Payment Recipient to) promptly, but in no event later than two Business Days thereafter (or such later date as the Administrative Agent may, in its sole discretion, specify in writing), return to the Administrative Agent the amount of any such Erroneous Payment (or portion thereof) as to which such a demand was made, in same day funds (in the currency so received), together with interest thereon (except to the extent waived in writing by the Administrative Agent) in respect of each day from and including the date such Erroneous Payment (or portion thereof) was received by such Payment Recipient to the date such amount is repaid to the Administrative Agent in same day funds at the greater of the Federal Funds Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation from time to time in effect. A notice of the Administrative Agent to any Payment Recipient under this clause (a) shall be conclusive, absent manifest error.
Incorrect Payment. If the Provider feels that a payment received for services invoiced is incorrect, the Provider must notify the Buyer in writing of the questioned payment within forty-five (45) calendar days after the receipt of the payment. Supporting evidence must accompany such notification. The Buyer must correct any error found or respond in writing to the Provider why no error exists within the forty-five (45) calendar days after the receipt of the Provider’s notification. If the Provider’s notification and supporting evidence are not received by the Buyer within the forty-five (45) calendar day limit, the Buyer is not obligated to make any adjustments to the questionable payment. If the Provider feels that the payment received for services invoiced was an overpayment, then the Provider must notify the Buyer immediately.
Incorrect Payment. If any such audit establishes that HLBLS has underpaid or overpaid the amount due, HLBLS shall promptly pay any remaining amounts due as established by such audit or SALARIUS shall promptly refund any over payment. If the underpayment is by five percent (5%) or more during any calendar year, HLBLS shall reimburse SALARIUS for its out-of-pocket expense of such audit. with interest at the rate specified in Section 4.14 below for late payments on any such overdue payment from the date due until paid.
Incorrect Payment. (a) If the Agent finds an amount paid based on the RCTI is incorrect and the Principal has paid, the Agent is responsible for issuing an Adjustment Note to the Principal. If the amount is:
(i) less than the amount that should have been paid, the Principal must pay the difference to the Agent within twenty (20) days after the date the Adjustment Note is received;
(ii) more than the amount that should have been paid, the Principal may:
a. debit the difference from the Agent's nominated account within twenty (20) days after the date the Adjustment Note is received; or
b. offset the difference against any amount subsequently payable by the Principal to the Agent.
(b) If the Principal finds that the amount paid based on the RCTI was incorrect and the Principal has overpaid, the Principal is entitled to take the steps outlined in sub-clause 5.7(a)(ii) a. or b., without receipt of an Adjustment Note from the Agent.
Incorrect Payment. (a) If the Agent finds an amount paid based on the RCTI is incorrect and the Director General has paid, the Agent is responsible for issuing an Adjustment Note to the Director General. If the amount is:
(i) less than the amount that should have been paid, the Director General must pay the difference to the Agent within twenty (20) days after the date the Adjustment Note is received;
(ii) more than the amount that should have been paid, the Director General may:
A) debit the difference from the Agent's nominated account within twenty (20) days after the date the Adjustment Note is received; or
B) offset the difference against any amount subsequently payable by the Director General to the Agent.
(b) If the Director General finds that the amount paid based on the RCTI was incorrect and the Director General has overpaid, the Director General is entitled to take the steps outlined in sub-clause 2.7(a)(ii) (A) or (B), without receipt of an Adjustment Note from the Agent.
Incorrect Payment. (a) Unless a Trader is so directed by the Security Agent, the Borrower receives payment from that Trader under any Assigned Export Contract other than by a deposit directly to the Borrower Collection Account (unless the payment is not received directly into the Borrower Collection Account due solely to technical difficulties with the banking system in relation to the electronic transmission of funds, and such payment is received into the Borrower Collection Account within three Business Days of the due date).
(b) Unless an Offtaker is so directed by the Security Trustee, a Trader receives payment from that Offtaker under an Assigned Offtake Contract other than by a deposit directly to the Trader Collection Account of that Trader (unless the payment is not received directly into that Trader Collection Account due solely to an error of that Offtaker or technical difficulties with the banking system in relation to the electronic transmission of funds, and such payment is received into that Trader Collection Account within three Business Days of the due date).
Incorrect Payment. If any Distribution on account of the Subordinated Debt not permitted to be made by the Company or accepted by Subordinated Creditor under this Agreement is made and received by Subordinated Creditor, such Distribution shall not be commingled with any of the assets of Subordinated Creditor, shall be held in trust by Subordinated Creditor for the benefit of First Lien Collateral Agent and Senior Lenders and shall be promptly paid over to First Lien Collateral Agent for application (in accordance with the Senior Debt Documents) to the payment of the Senior Debt then remaining unpaid, until all of the Senior Debt is Paid In Full.
Incorrect Payment. If any payment not permitted under Section 2.2 is received by Parent on account of the Subordinated Indebtedness before all Senior Indebtedness is paid in full in cash, such payment shall be held in trust by Parent for the benefit of Senior Lender and shall be paid over to Senior Lender, or its designated representative, for application (in accordance with the Senior Loan Agreement) to the payment of the Senior Indebtedness then remaining unpaid, until all of the Senior Indebtedness is paid in full in cash. Except for any payment made by Parent to Senior Lender pursuant to this Section 2.4, Parent has no other payment obligation, duty or commitment with respect to the Senior Indebtedness.
Incorrect Payment. (a) If an invoice is found to have been rendered incorrectly after payment, any under payment will be promptly paid by the Access Seeker and any over payment will be promptly refunded by FOXTEL. If the parties are unable to agree on the amount of any such under or over payment, as the case be, the parties must follow the Dispute Resolution Procedure to determine the appropriate amount.
(b) If a dispute arises in relation to an invoice that has already been paid, the Access Seeker must notify FOXTEL within 40 Business Days of the date of payment of the invoice. If the Access Seeker does not notify FOXTEL within the required period, it will be deemed to have accepted that the amount paid was correct.
Incorrect Payment. If any payment not permitted under this Agreement is received by Subordinated Lender on account of the Subordinated Indebtedness before all Senior Indebtedness is paid in full in cash, such payment shall be held in trust by Subordinated Lender for the benefit of Senior Lender and shall be paid over to Senior Lender, or its designated representative, for application (in accordance with the Senior Loan Agreement) to the payment of the Senior Indebtedness then remaining unpaid, until all of the Senior Indebtedness is paid in full in cash. Except for any payment made by Subordinated Lender to Senior Lender pursuant to this Section 2.5, Subordinated Lender has no other payment obligation, duty or commitment with respect to the Senior Indebtedness.
