Misdirected Payments definition

Misdirected Payments means payments made by an Account Debtor to a location other than as provided in the Notification Letter or that the Practice otherwise receives on Purchased Accounts Receivable under the terms of this Agreement.
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Misdirected Payments means such payments that have been deposited to the Collection Account in error.
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Misdirected Payments has the meaning set forth in Section 5.12(c).
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Examples of Misdirected Payments in a sentence

  • If at any time the net amount in respect of Misdirected Payments owed to either Specified Party exceeds $1,000,000, an interim payment of such net amount owed shall be made to the Specified Party entitled thereto within three (3) Business Days of such amount exceeding $1,000,000.

  • All Misdirected Payments shall be sent promptly upon receipt thereof, and in no event later than the close of business, on the first Business Day after receipt thereof.

  • The Indenture Trustee, at the written direction of the Servicer, shall withdraw (no more than once per calendar week) from the Collection Account and return to the Servicer or as directed by the Servicer, any amounts which (i) were mistakenly deposited by the Lockbox Bank in the Collection Account, including, without limitation, amounts representing Misdirected Payments and (ii) represent Additional Servicing Compensation.

  • If at any time the net amount in respect of Misdirected Payments owed to either Specified Party exceeds $10,000,000, an interim payment of such net amount owed shall be made to the Specified Party entitled thereto within three (3) Business Days of such amount exceeding $10,000,000.

  • The Indenture Trustee, at the written direction of the Servicer, shall withdraw (no more than once per calendar week) from the Collection Account and return to the Servicer or as directed by the Servicer, any amounts which (i) were mistakenly deposited in the Collection Account, including, without limitation, amounts representing Misdirected Payments and (ii) represent Additional Servicing Compensation.

  • The Indenture Trustee, at the written direction of the Servicer, shall withdraw (no more than once per calendar week) from the Collection Account and return to the Servicer or as directed by the Servicer, any amounts which (i) were mistakenly deposited in the Collection Account, including, without limitation, amounts representing Misdirected Payments or (ii) represent Additional Servicing Compensation.

  • The Indenture Trustee, at the written direction of the Servicer, shall withdraw (no more than once per calendar week) from the Collection Account and return to the Servicer or as directed by the Servicer, any amounts which (1) were mistakenly deposited by the Lockbox Bank in the Collection Account, including, without limitation, amounts representing Misdirected Payments and (ii) represent Additional Servicing Compensation.

  • All Misdirected Payments shall be sent promptly upon receipt thereof and in no event later than the close of business on the first Business Day after receipt thereof.

  • Misdirected Payments; EOB's...............................4 SECTION 2.04.

  • All Misdirected Payments and EOB’s shall be sent promptly upon receipt thereof, and in no event later than the close of business, on the first Business Day after receipt thereof.


More Definitions of Misdirected Payments

Misdirected Payments shall have the meaning set forth in Section 10.02 hereof.
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Misdirected Payments means payments erroneously made to the Lockbox -------------------- Account that are not related to the Collateral.
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