misapplication definition
misapplication means Borrower's failure to apply funds to the payment of principal, interest and other amounts due under the Notes.
misapplication means unauthorised application of budget provisions to a use on a programme other than for an approved programme;
misapplication although the Borrower is liable for "conversion".
More Definitions of misapplication
misapplication if Mortgagor shall pay a Distribu- tion, at such time as there shall be no outstanding Event of Default, and amounts are then due and owing by Mortgagor either (1) for capital improvement costs, tenant improvement costs or other items for which Mortgagor has submitted a Withdrawal Re- quest (as defined in the Cash Collateral Agreement) and for which Mortgagor is then entitled to receive amounts under the Cash Collateral Agreement (provided that Mortgagor shall promptly pay such expenditures upon receipt of such funds from the Cash Collateral Account) or (2) for expenditures incurred for materials (the cost of which is reimbursable under the Cash Collateral Agreement) purchased or in fabrication and to be delivered pursuant to binding contracts reasonably committed to at the time of execution taking into account sums on deposit in the Cash Collateral Account.
misapplication means (1) the distribution or payment of cash flow by Mortgagor to, or for the benefit of, any of Mortgagor's Constituent Parties, or to any holder of a mortgage on the Mortgaged Premises subordinate to the Mortgage, which mortgage has not been consented to in writing by Mortgagee (a "Distribution"), at such time as ------------ Mortgagor has failed to pay or cause to be paid any of the following: (A) the principal and interest then due under the Notes and Mortgage, (B) any other amounts then due under the Notes, the Mortgage, the Cash Collateral Agreement, or any other Loan Documents, or (C) any amounts then due in connection with the operation, management, maintenance and repair of the Mortgaged Premises, including (without limitation) amounts then due for tenant improvements or other capital expenditures, real property taxes or assessments (provided, however, Mortgagor shall be deemed to have paid real property taxes to the extent of payments made by Mortgagor into escrow pursuant to the Tax Processing Agreement) insurance premiums, salaries, service contracts, utilities, or labor or material
misapplication means the unauthorized, or unjustifiable or wrongful use of a bank’s funds. Misapplication includes the wrongful taking or use of money of the
misapplication means Borrower’s failure to apply funds to the reasonable and proper costs of ownership, operation, maintenance, repair, and (when applicable) restoration of the Property, and the payment of principal, interest and other amounts to be paid or due under any of the Loan Documents or any other loan secured by the Property.
misapplication means unauthorized application of budget provisions for use on a program other than for an approved program;
misapplication means Grantor’s failure to apply funds to the reasonable and proper costs of ownership, operation, maintenance, repair, and (when applicable) restoration of the Property, and the payment of principal, interest and other amounts to be paid or due under any of the Loan Documents or any other loan secured by the Property.