Common use of Incorrect Distribution Clause in Contracts

Incorrect Distribution. If any Creditor receives any Proceeds in an amount in excess of the amount such Person is entitled to receive under the terms hereof, such Person shall (a) hold such excess Proceeds in trust for the benefit of the Collateral Agent until paid over to the Collateral Agent and (b) shall promptly pay the excess amount of such Proceeds to the Collateral Agent. The Collateral Agent shall promptly distribute the amount so received to the Creditors entitled thereto in accordance with the terms of Section 2.02.

Incorrect Distribution. If any Creditor receives any Proceeds proceeds in an amount in excess of the amount such Person is entitled to receive under the terms hereof, such Person shall (a) hold such excess Proceeds proceeds in trust for the benefit of the Collateral Agent until paid over to the Collateral Agent and (b) shall promptly pay the excess amount of such Proceeds proceeds to the Collateral Agent. The Collateral Agent shall promptly distribute the amount so received to the Creditors entitled thereto in accordance with the terms of this Section 2.022.17.