Incorrect Payments. 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 Agent and Senior Lenders and shall be promptly paid over to Senior Lenders for application to the payment of the Senior Debt then remaining unpaid, until all of the Senior Debt is Paid in Full.
Incorrect Payments. If any payment (whether made in cash, securities or other property) not permitted under this Agreement is received by any Subordinated Creditor on account of the Subordinated Indebtedness before all Senior Indebtedness is Paid in Full, such payment shall not be commingled with any asset of such Subordinated Creditor, shall be held in trust by such Subordinated Creditor for the benefit of the Lenders and shall promptly be paid over to the Lenders, or their respective designated representatives, for application (in accordance with the Purchase Agreement, the Notes or the Permitted Refinancing Loan Documents) to the payment of the Senior Indebtedness then remaining unpaid, until all of the Senior Indebtedness is Paid in Full.
Incorrect Payments. If any Distribution on account of the Subordinated Debt not permitted to be made by any Company or any Subsidiary of any Company or accepted by the Subordinated Creditor under this Agreement is made and received by the Subordinated Creditor, such Distribution shall not be commingled with any of the assets of the Subordinated Creditor, shall be held in trust by the Subordinated Creditor for the benefit of the Senior Agent and the other Senior Lender Parties and shall be promptly paid over to Senior Agent for application (in accordance with the Senior Debt Documents) to the payment of the Senior Debt then remaining unpaid, until the earlier of all of the Senior Debt is paid in full or otherwise permitted in writing by the Senior Agent.
Incorrect Payments. If, for any reason whatsoever and whether pursuant to an Insolvency Event or otherwise, Sharyland shall make or any of the Subordinated Lenders shall receive any payment or distribution of any kind or character, whether in cash, securities or other property (other than Reorganization Securities), on account or in respect of the Subordinated Indebtedness in contravention of any of the terms set forth herein, such Subordinated Lender shall hold any such payment or distribution in trust for the benefit of the Secured Parties, promptly notify the Entitled Party of the receipt of such payment or distribution and promptly pay over or deliver such distribution or payment to the Entitled Party or to any other Person nominated by the Entitled Party, to hold for the account of the Secured Parties.
Incorrect Payments. If from time to time payments of monies are incorrectly paid into the Trustee Collection Account ("INCORRECT PAYMENTS"), such monies may incorrectly be deemed to be Collections representing Trust Property and allocated in a manner consistent with the principles set out in the First Schedule (as amended by any Supplement) unless prior to such allocation the Receivables Trustee is notified by the Trust Cash Manager or any Co-Trust Cash Manager that such monies are Incorrect Payments. Notwithstanding the above, promptly following the notification to the Receivables Trustee by the Trust Cash Manager or Co-Trust Cash Manager that such payments were incorrectly deemed to be Trust Property and have been incorrectly allocated, the Receivables Trustee shall:
(i) apply Trust Property in a manner consistent with the principles set out in the First Schedule (as amended by any Supplement) to repay such Incorrect Payments; and
(ii) amend its books of account to record that (A) the Eligible Receivables Pool has been increased by the amount of Principal Receivables, if any, previously incorrectly deducted and that Incorrect Payments incorrectly allocated as Principal Collections have been repaid, (B) the Transferor Interest has been increased by the same amount of Principal Receivables, if any, which were incorrectly added to the Eligible Receivables Pool and (C) following any deduction from Finance Charge Collections for such purpose, Incorrect Payments incorrectly allocated as Finance Charge Collections, if any, have been repaid; and the entitlement of the Beneficiaries to Trust Property shall be adjusted accordingly.
Incorrect Payments. Each party shall promptly inform the other upon discovery of any incorrect payment(s) made under this Agreement and shall take prompt and effective measures to remedy such incorrect payment. Upon audit or exchange of information as provided herein, Health Plan shall have the right of denial or recovery of payments incorrectly made for whatever reason. Recoveries made pursuant to this Section may be made from any future payments owed to Provider. Health Plan will limit the time frames for such recoveries in accordance with applicable Health Plan recovery policies. Termination of this Agreement shall not terminate or otherwise limit Health Plan’s right of recovery under this Section.
Incorrect Payments. Subject to subclause (5), if the PHO has reasonable evidence that a payment that the DHB has made is incorrect, the PHO will notify the DHB and its Payment Agent of the suspected error, and will provide a description of the suspected error and the PHO's evidence of the error to the DHB.
Incorrect Payments. If any payment or distribution on account of the Subordinated Debt not permitted to be made by any Loan Party or received by Subordinated Creditors under this Agreement is received by Subordinated Creditors before all Senior Debt is Paid in Full, such payment or distribution shall be held in trust by the Subordinated Creditors for the benefit of the holders of the Senior Debt, and shall be promptly paid over to the Senior Creditor Representative 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 Payments. If any payment or distribution on account of the Junior Debt not permitted to be made by the Company or any Subsidiary or received by a Junior Creditor under this Agreement is received by such Junior Creditor before all outstanding Senior Debt has been irrevocably paid in full, such payment or distribution shall not be commingled with any asset of such Junior Creditor, shall be held in trust by such Junior Creditor for the benefit of Lenders and shall be immediately paid over to Agent, or its designated representative, in the form received (together with any necessary endorsements) for application (in accordance with the Credit Agreement) to the Senior Debt until all outstanding Senior Debt has been irrevocably paid in full.
Incorrect Payments. If any payment (whether made in cash, securities or other Property) not permitted to be accepted by Subordinated Agent or Subordinated Creditor under this Agreement is received by Subordinated Agent or the Subordinated Creditor on account of any Subordinated Indebtedness before all Senior Indebtedness is Paid in Full, such payment shall not be commingled with any asset of such Person, shall be held in trust by such Person for the benefit of Senior Agent and Senior Creditors and shall be paid over to Senior Agent, or its designated representative, for application (in accordance with the Senior Purchase Agreement or the Permitted Refinancing Debt Documents, as the case may be) to the payment of the Senior Indebtedness then remaining unpaid, until all of the Senior Indebtedness is Paid in Full.
