Common use of Misapplied Payments Clause in Contracts

Misapplied Payments. Misapplied payments shall be processed as follows: (A) All parties shall cooperate in correcting misapplication errors; (B) The party receiving notice of a misapplied payment occurring prior to the related Servicing Transfer Date and discovered after the related Servicing Transfer Date shall immediately notify the other party in writing; and (C) If a proven misapplied payment which occurred prior to the related Servicing Transfer Date cannot be identified and said misapplied payment has resulted in a shortage in a Collection Account or Escrow Account, the Servicer shall be liable for the amount of such shortage. The Servicer shall reimburse the Successor Servicer for the amount of such shortage within thirty (30) days upon receipt of written demand therefor from the Successor Servicer.

Misapplied Payments. Misapplied payments shall be processed as follows: (A) : All parties shall cooperate in correcting misapplication errors; (B) ; The party receiving notice of a misapplied payment occurring prior to the related Servicing Transfer Out Date and discovered after the related Servicing Transfer Out Date shall immediately notify the other party in writing; and (C) and If a proven misapplied payment which occurred prior to the related Servicing Transfer Out Date cannot be identified and said misapplied payment has resulted in a shortage in a Collection Account or Escrow Account, the Servicer shall be liable for the amount of such shortage. The Servicer shall reimburse the Successor Servicer successor servicer for the amount of such shortage within thirty (30) days upon receipt of written demand therefor from the Successor Servicer.successor servicer;

Misapplied Payments. Misapplied payments shall be processed as follows: (Ai) All parties shall cooperate in correcting misapplication errors; (Bii) The party receiving notice of a misapplied payment occurring prior to the related Servicing Transfer Out Date and discovered after the related Servicing Transfer Out Date shall immediately notify the other party in writing; and (Ciii) If a proven misapplied payment which occurred prior to the related Servicing Transfer Out Date cannot be identified and said misapplied payment has resulted in a shortage in a Collection Account or Escrow Account, the Servicer shall be liable for the amount of such shortage. The Servicer shall reimburse the Successor Servicer successor servicer for the amount of such shortage within thirty (30) days upon receipt of written demand therefor from the Successor Servicer.successor servicer;

Misapplied Payments. Misapplied payments shall be processed as follows: (A1) All parties shall cooperate in correcting misapplication errors; (B2) The party receiving notice of a misapplied payment occurring prior to the related Servicing Transfer Date and discovered after the related Servicing Transfer Date shall immediately notify the other party in writing; andparties; (C3) If a proven misapplied payment which occurred prior to the related Servicing Transfer Date cannot be identified and said misapplied payment has resulted in a shortage in a Collection the Blocked Account or Escrow Account, the REIT Servicer shall be liable for the amount of such shortage. The REIT Servicer shall reimburse the Successor Servicer for the amount of such shortage within thirty (30) days upon after receipt of written demand therefor from the Successor Servicer.;

Misapplied Payments. Misapplied payments shall be processed as follows: (A1) All parties shall cooperate in correcting misapplication errors; (B2) The party receiving notice of a misapplied payment occurring prior to the related Servicing Transfer Date and discovered after the related Servicing Transfer Date shall immediately notify the other party in writing; andparties; (C3) If a proven misapplied payment which occurred prior to the related Servicing Transfer Date cannot be identified and said misapplied payment has resulted in a shortage in a Collection the Blocked Account or Escrow Account, the TRS Servicer shall be liable for the amount of such shortage. The TRS Servicer shall reimburse the Successor Servicer for the amount of such shortage within thirty (30) days upon after receipt of written demand therefor from the Successor Servicer.;