Misdirected Payments. If the Seller receives a misdirected payment of a Pool Asset from any Account Debtor or Obligor, the Seller shall remit such funds to a Collection Account no later than two (2) Business Days following receipt thereof. Until remitted to a Collection Account, the Seller shall hold such funds in trust as the Affected Parties’ exclusive property and safeguard such funds for the benefit of the Affected Parties.
Appears in 7 contracts
Samples: Receivables Purchase Agreement (CHS Inc), Receivables Purchase Agreement (CHS Inc), Receivables Purchase Agreement (CHS Inc)
Misdirected Payments. If the Seller receives a misdirected payment of a Pool Asset from any Account Debtor or Obligor, the Seller shall remit such funds to a Collection Account no later than two (2) Business Days following receipt thereof. Until remitted to a Collection Account, the Seller shall hold such funds in trust as the Affected 753697831 Parties’ exclusive property and safeguard such funds for the benefit of the Affected Parties.
Appears in 1 contract
