Common use of Incorrect Payments Clause in Contracts

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

Incorrect Payments. If any Distribution on account of the Subordinated Debt not permitted to be made by the Borrower an Obligor or accepted by any Subordinated Creditor under this Agreement is made and received by such Subordinated Creditor, such Distribution shall not be commingled with any of the assets of such Subordinated Creditor, shall be deemed to be held in trust by such Subordinated Creditor for the benefit of the Senior Lender Agent and shall be promptly paid over to the Senior Lender Agent (for the benefit of the Senior Creditor for application (in accordance with pro rata against the outstanding amount of Senior Debt held by the Senior Debt Documents Creditor) to the payment of the Senior Debt then remaining unpaid, until all of the Senior Debt is paid Paid in fullFull.

Incorrect Payments. If any Distribution on account of the Subordinated Debt not permitted to be made by the Borrower 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 Lender Agent for application (in accordance with the Senior Debt Documents Documents) to the payment of the Senior Debt then remaining unpaid, until the earlier of all of the Senior Debt is paid in fullfull or otherwise permitted in writing by the Senior Agent.

Incorrect Payments. If any Distribution on account of the Subordinated Debt not permitted to be made by the Borrower 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 Creditor, as applicable, for the benefit of the Senior Lender Lender, and shall be promptly paid over to Senior Lender in the same form received, together with any necessary endorsements, for application (in accordance with the Senior Debt Documents 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 Distribution on account of the Subordinated Debt not permitted to be made by the Borrower Company or accepted by any Subordinated Creditor under this Agreement is made and received by such Subordinated Creditor, such Distribution shall not be commingled with any of the assets of such Subordinated Creditor, shall be held in trust by such Subordinated Creditor for the benefit of the Senior Lender Creditors and shall be promptly paid over to the Senior Lender Creditors for application (in accordance with pro rata against the outstanding amount of Senior Debt Documents held by each Senior Creditor) to the payment of the Senior Debt then remaining unpaid, until all of the Senior Debt is paid Paid in fullFull.

Incorrect Payments. If any Distribution on account of the Subordinated Debt not permitted to be made by the Borrower Obligors or accepted by Subordinated Creditor Lender under this Agreement is made and received by Subordinated CreditorLender, such Distribution shall not be commingled with any of the assets of Subordinated CreditorLender, shall be held in trust by Subordinated Creditor Lender or such Subordinated Lender for the benefit of Senior Lender Agent and the Senior Lenders and shall be promptly paid over to Senior Lender Agent for application (in accordance with the Senior Debt Loan 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 Distribution on account of the Subordinated Debt not permitted to be made by the Borrower Company or accepted by Subordinated Creditor Creditors under this Agreement is made and received by any Subordinated Creditor, such Distribution shall not be commingled with any of the assets of such Subordinated Creditor, shall be held in trust by such Subordinated Creditor for the benefit of Agent and Senior Lender Lenders and shall be promptly paid over or delivered to Senior Lender Agent 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 shall have been indefeasibly paid in fullfull in cash and there shall be no further commitments to lend under the Senior Debt Documents.

Incorrect Payments. If any Distribution on account of the Subordinated Debt not permitted to be made by the Borrower 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 Lender Creditor and shall be promptly paid over to the Senior Lender Creditor for application (in accordance with pro rata against the outstanding amount of Senior Debt held by the Senior Debt Documents Creditor) to the payment of the Senior Debt then remaining unpaid, until all of the Senior Debt is paid Paid in fullFull.

Incorrect Payments. If any Distribution on account of the Subordinated Debt not permitted to be made by the Borrower or accepted accepted, taken or claimed by Subordinated Creditor under this Agreement is made and received by Subordinated Creditor, whether from Borrower or any guarantor, 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 Administrative Agent and Senior Lender Lenders and shall be promptly paid over to Senior Lender Administrative Agent for application (in accordance with the Senior Debt Loan Documents ) to the payment of the Senior Debt then remaining unpaid, until all of the Senior Debt is paid in full.