Common use of Incorrect Payments Clause in Contracts

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 payment (whether made in cash, securities or other property) not permitted under this Agreement is received by any the 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 the Subordinated Creditor, shall be held in trust by such the Subordinated Creditor for the benefit of the Lenders Buyers and shall promptly be paid over to the Lenders, Collateral Agent or their respective its designated representativesrepresentative, for application (in accordance with the Purchase Agreement, the Notes Note 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.