Payments Made in Error Sample Clauses
The "Payments Made in Error" clause defines the procedures and obligations related to correcting any payments that were mistakenly made under the agreement. Typically, this clause requires the recipient of an erroneous payment to promptly notify the payer and return the funds, and may outline timelines or methods for repayment. Its core function is to ensure that financial errors are rectified efficiently, protecting both parties from unintended financial loss or unjust enrichment.
Payments Made in Error. Keystone reserves the right to recoup from the Member or Provider, any payments made in error, whether for a benefit or otherwise. Coverage is not subject to any pre-existing condition limitations.
Payments Made in Error. (i) If Administrative Agent (x) notifies a Lender, LC Issuer or Secured Party, or any Person who has received funds on behalf of a Lender, LC Issuer or Secured Party (any such Lender, LC Issuer, Secured Party or other recipient (and each of their respective successors and assigns), a “Payment Recipient”) that Administrative Agent has determined in its discretion (whether or not after receipt of any notice under immediately succeeding clause (ii)) that any funds (as set forth in such notice from Administrative Agent) received by such Payment Recipient from Administrative Agent or any of its Affiliates were erroneously or mistakenly transmitted to, or otherwise erroneously or mistakenly received by, such Payment Recipient (whether or not known to such Lender, LC Issuer, Secured Party or other Payment Recipient on its behalf) (any such funds, whether transmitted or received as a payment, prepayment or repayment of principal, interest, fees, distribution or otherwise, individually and collectively, an “Erroneous Payment”) and (y) demands in writing the return of such Erroneous Payment (or a portion thereof), such Erroneous Payment shall at all times remain the property of Administrative Agent pending its return or repayment as contemplated below in this Section 12.10(d) and held in trust for the benefit of Administrative Agent, and such Lender, LC Issuer or Secured Party shall (or, with respect to any Payment Recipient who received such funds on its behalf, shall cause such Payment Recipient to) promptly, but in no event later than two (2) Business Days thereafter (or such later date as Administrative Agent may, in its discretion, specify in writing), return to Administrative Agent the amount of any such Erroneous Payment (or portion thereof) as to which such a demand was made, in same day funds (in the currency so received), together with interest thereon (except to the extent waived in writing by Administrative Agent) in respect of each day from and including the date such Erroneous Payment (or portion thereof) was received by such Payment Recipient to the date such amount is repaid to Administrative Agent in same day funds at the greater of the Federal Funds Rate and a rate determined by Administrative Agent in accordance with then standard banking industry rules on interbank compensation from time to time in effect. A notice of Administrative Agent to any Payment Recipient under this clause (i) shall be conclusive, absent manifest error.
(ii) Without limit...
Payments Made in Error. Unless Agent has received notice from Borrower Agent prior to the date on which any payment is due to Agent for the account of any Lender or any Issuing Bank hereunder that Borrowers will not make such payment, Agent may assume that Borrowers have made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the applicable Lender or Issuing Bank the amount due. With respect to any payment that Agent makes for the account of the Lenders or Issuing Bank hereunder as to which Agent determines (which determination shall be conclusive absent manifest error) that any of the following applies (such payment referred to as the “Rescindable Amount”):
(1) Borrowers have not in fact made such payment; (2) Agent has made a payment in excess of the amount so paid by Borrowers (whether or not then owed); or (3) Agent has for any reason otherwise erroneously made such payment; then each of the Lenders or the applicable Issuing Bank, as the case may be, severally agrees to repay to Agent forthwith on demand the Rescindable Amount so distributed to such Lender or such Issuing Bank, in immediately available funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to Agent, at the greater of the Federal Funds Rate and a rate determined by Agent in accordance with banking industry rules on interbank compensation. A notice by Agent to Issuing Bank, any Lender or any Borrower with respect to any amount owing under this Section 5.1.2 shall be conclusive, absent manifest error.
Payments Made in Error. If CareFirst makes a claim payment to or on behalf of the Member in error, the Member is required to repay CareFirst the amount that was paid in error. If the Member has not repaid the full amount that owed CareFirst and CareFirst makes a subsequent benefit payment, CareFirst may subtract the amount owed CareFirst from the subsequent payment.
Payments Made in Error. Keystone reserves the right to recoup from the Member or Provider, any payments made in error, whether for a benefit or otherwise.
I. PRE-EXISTING CONDITIONS
XIV. CLAIMS REIMBURSEMENT FOR PRESCRIPTION DRUG BENEFITS
Payments Made in Error. Keystone reserves the right to recoup from the Member or Pharmacy, any payments made in error, whether for a Benefit or otherwise.