Common use of Incorrect Payments Clause in Contracts

Incorrect Payments. If any Distribution on account of the Subordinated Obligations not permitted to be made by any Loan Party or accepted by the Subordinated Obligee under this Agreement is made and received by the Subordinated Obligee, such Distribution shall not be commingled with any of the assets of the Subordinated Obligee, shall be held in trust by the Subordinated Obligee for the benefit of Senior Lenders and shall be promptly paid over to the Senior Lenders for application in accordance with the Senior Loan Documents to the payment of the Senior Loans then remaining unpaid, until the Senior Loans are Paid in Full.

Incorrect Payments. If any Distribution on account of the Subordinated Obligations not permitted to be made by any Loan the Credit Party or accepted by the Subordinated Obligee Creditor under this Agreement is made and received by the Subordinated ObligeeCreditor, such Distribution shall not be commingled with any of the assets of the Subordinated ObligeeCreditor, shall be held in trust by the Subordinated Obligee Creditor for the benefit of the Senior Lenders Creditor and shall be promptly paid over to the Senior Lenders Creditor for application (in accordance with the Senior Loan Documents ) to the payment of the Senior Loans Obligations then remaining unpaid, until all of the Senior Loans are Paid Obligations is paid in Fullfull.

Incorrect Payments. If any Distribution on account of the Subordinated Obligations Loan not permitted to be made by any Loan Party or accepted by the Subordinated Obligee Lender under this Agreement is made and received by the Subordinated ObligeeLender, such Distribution shall not be commingled with any of the assets of the Subordinated ObligeeLender, shall be held in trust by the Subordinated Obligee Lender for the benefit of Senior Lenders and shall be promptly paid over to Agent for the benefit of Senior Lenders for application in accordance with the Senior Loan Documents to the payment of the Senior Loans then remaining unpaid, until all of the Senior Loans are Paid in Full.

Incorrect Payments. If any Distribution on account of the Subordinated Obligations Loans not permitted to be made by any Loan Credit Party or accepted by the Subordinated Obligee Lender under this Agreement is so made by a Credit Party and received by the Subordinated ObligeeLender, such Distribution shall not be commingled with any of the assets of the Subordinated ObligeeLender, shall be held in trust by the Subordinated Obligee Lender for the benefit of Senior Lenders Lenders, and shall be promptly paid over to Agent for the benefit of Senior Lenders for application in accordance with the Senior Loan Documents to the payment of the Senior Loans then remaining unpaid, until all of the Senior Loans are Paid in Full.

Incorrect Payments. If any Distribution on account of the Subordinated Obligations Obligation not permitted to be made by Borrower or any Loan Party or accepted by the Subordinated Obligee under this Agreement is made and received by the Subordinated Obligee, such Distribution shall not be commingled with any of the assets of the Subordinated Obligee, shall be held in trust by the Subordinated Obligee for the benefit of Senior Lenders and shall be promptly paid over to Agent for the benefit of Senior Lenders for application in accordance with the Senior Loan Documents to the payment of the Senior Loans then remaining unpaid, until all of the Senior Loans are Paid in Full.