Payment Recipient definition
Examples of Payment Recipient in a sentence
A notice of the Administrative Agent to any Payment Recipient under this clause (a) shall be conclusive, absent manifest error.
To the extent permitted by applicable law, no Payment Recipient shall assert any right or claim to an Erroneous Payment, and hereby waives, and is deemed to waive, any claim, counterclaim, defense or right of set-off or recoupment with respect to any demand, claim or counterclaim by the Administrative Agent for the return of any Erroneous Payment received, including without limitation waiver of any defense based on “discharge for value” or any similar doctrine.
A notice of the Agent to any Payment Recipient under this clause (a) shall be conclusive, absent manifest error.
A notice of the Administrative Agent to any Payment Recipient under this clause (i) shall be conclusive, absent manifest error.
In addition, each party hereto agrees that, except to the extent that the Administrative Agent has sold a Loan (or portion thereof) acquired pursuant to the assignment of an Erroneous Payment Deficiency, and irrespective of whether the Administrative Agent may be equitably subrogated, the Administrative Agent shall be contractually subrogated to all the rights and interests of the applicable Payment Recipient under the Credit Documents with respect to each Erroneous Payment Return Deficiency.