Common use of Incorrect Payments Clause in Contracts

Incorrect Payments. If any payment or distribution on account of the Junior Debt not permitted to be made by the Obligors or received by the Junior Creditor under this Agreement is received by the Junior Creditor before all Senior Debt is Paid in Full, such payment or distribution shall not be commingled with any asset of such Junior Creditor, shall be held in trust by such Junior Creditor for the benefit of all holders of Senior Debt and shall be promptly paid over to the Senior Agent, or his designated representative, for application (in accordance with the applicable Credit Agreement) to the payment of the Senior Debt then remaining unpaid, until all of the Senior Debt is Paid in Full.

Incorrect Payments. If any payment or distribution on account of the Junior Debt not permitted to be made by the Obligors Company or any Subsidiary or received by the a Junior Creditor under this Agreement is received by the such Junior Creditor before all outstanding Senior Debt is Paid has been irrevocably paid in Fullfull, such payment or distribution shall not be commingled with any asset of such Junior Creditor, shall be held in trust by such Junior Creditor for the benefit of all holders of Senior Debt Lenders and shall be promptly immediately paid over to the Senior Agent, or his its designated representative, in the form received (together with any necessary endorsements) for application (in accordance with the applicable Credit Agreement) to the payment of the Senior Debt then remaining unpaid, until all of the outstanding Senior Debt is Paid has been irrevocably paid in Fullfull.

Incorrect Payments. If any payment or distribution on account of the Junior Debt not permitted to be made by the Obligors Borrowers or received by the Junior Creditor under this Agreement is received by the Junior Creditor before all Senior Debt is Paid indefeasibly paid in Fullfull in cash and all lending commitments under the Senior Credit Agreement have terminated, such payment or distribution shall not be commingled with any asset of such the Junior Creditor, shall be held in trust by such the Junior Creditor for the benefit of all holders of the Senior Debt Creditor and shall be promptly paid over to the Senior AgentCreditor, or his its designated representative, for application (in accordance with the applicable Senior Credit Agreement) to the payment of the Senior Debt then remaining unpaid, until all of the Senior Debt is Paid indefeasibly paid in Fullfull in cash.

Incorrect Payments. If any payment or distribution on account of the Junior Debt not permitted to be made by the Obligors or received by the Junior Creditor Creditors under this Agreement is received by the Junior Creditor Creditors in violation of this Agreement before all Senior Debt is Paid in Full, such payment or distribution shall not be commingled with any asset of such the Junior Creditor, shall be held in trust by such the Junior Creditor Creditors for the benefit of all holders of the Senior Debt Creditor and shall be promptly paid over to the Senior AgentCreditor, or his its designated representative, for application (in accordance with the applicable Credit AgreementAgreements) to the payment of the Senior Debt then remaining unpaid, until all of the Senior Debt is Paid in Full.

Incorrect Payments. If any payment or distribution on account of the Junior Debt not permitted to be made by the Obligors Company or received by the any Junior Creditor under this Agreement is received by the such Junior Creditor before all Senior Debt is Paid Obligations are paid in Full, full such payment or distribution shall not be commingled with any asset of such Junior Creditor, shall be held in trust by such Junior Creditor for the benefit of all holders of Senior Debt Lessor and shall be promptly paid over to the Senior AgentLessor, or his Lessor's designated representative, for application (in accordance with the applicable Credit Lease Agreement) to the payment of the Senior Debt Obligations then remaining unpaid, until all of the Senior Debt is Paid Obligations are paid in Fullfull.

Incorrect Payments. If any payment or distribution on account of the Junior Debt not permitted to be made by the Obligors or received by the Junior Creditor Lender under this Agreement is received by the Junior Creditor Lender before all Senior Debt is Paid in FullFull (including any proceeds of a Collection Action), such payment or distribution shall not be commingled with any asset of such Junior Creditor, shall be held in trust by such Junior Creditor Lender for the benefit of all holders of Senior Debt and shall be promptly paid over to Senior Collateral Agent (for the benefit of Senior AgentLender), or his its designated representative, for application (in accordance with the Senior Financing Agreement or the applicable Credit AgreementPermitted Refinancing Loan Document) to the payment of the Senior Debt then remaining unpaid, until all of the Senior Debt is Paid in Full.

Incorrect Payments. If any payment or distribution on account of the Junior Debt not permitted to be made by the Obligors Company or its subsidiaries or received by the Junior Creditor under this Agreement is received by the Junior Creditor before all Senior Debt is Paid paid in Fullfull in cash, such payment or distribution shall not be commingled with any asset of such Junior Creditor, shall be held in trust by such Junior Creditor for the benefit of all holders of Senior Debt Creditor and shall be promptly paid over to the Senior AgentCreditor, or his its designated representative, for application (in accordance with the applicable Credit Senior Security Agreement) to the payment of the Senior Debt then remaining unpaid, until all of the Senior Debt is Paid paid in Fullfull in cash.

Incorrect Payments. If any payment or distribution on ------------------ account of the Junior Debt not permitted to be made by the Obligors Company or received by the Junior Creditor under this Agreement is received by the Junior Creditor before all a Senior Debt is Paid in FullPayoff, such payment or distribution shall not be commingled with any asset of such Junior Creditor, shall be held in trust by such Junior Creditor for the benefit of all holders of Senior Debt Lenders and shall be promptly paid over to the Senior Agent, or his its designated representative, for application (in accordance with the applicable Credit Agreement) to the payment of the Senior Debt then remaining unpaid, until all of the Senior Debt is Paid in FullIndefeasibly Paid.

Incorrect Payments. If any payment or distribution on account of the Junior Debt not permitted to be made by the Obligors Borrower or received by the Junior Creditor under this Agreement is received by the Junior Creditor before all Senior Debt is Paid in Full, such payment or distribution shall not be commingled with any asset of such Junior Creditor, shall be held in trust by such Junior Creditor for the benefit of all holders of Senior Debt Creditor and shall be promptly paid over to the Senior AgentCreditor, or his its designated representative, for application (in accordance with the applicable Credit Loan Agreement) to the payment of the Senior Debt then remaining unpaid, until all of the Senior Debt is Paid in Full.

Incorrect Payments. If any payment or distribution on account of the Junior Debt not permitted to be made by the Obligors or received by the Junior Creditor Creditors under this Agreement is received by the Junior Creditor Creditors in violation of this Agreement before all Senior Debt is Paid in Full, such payment or distribution shall not be commingled with any asset of such the Junior Creditor, shall be held in trust by such the Junior Creditor Creditors for the benefit of all holders of the Senior Debt Creditors and shall be promptly paid over to the Senior Agent, or his its designated representative, for application (in accordance with the applicable Credit AgreementAgreements) to the payment of the Senior Debt then remaining unpaid, until all of the Senior Debt is Paid in Full.