Misapplied Payments. Misapplied payments shall be processed as follows:
Misapplied Payments. Misapplied payments shall be processed as follows: All parties shall cooperate in correcting misapplication errors; The party receiving notice of a misapplied payment occurring prior to the related Transfer Out Date and discovered after the related Transfer Out Date shall immediately notify the other party in writing; and If a proven misapplied payment which occurred prior to the related 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 for the amount of such shortage within thirty (30) days upon receipt of written demand therefor from the successor servicer;
Misapplied Payments. Misapplied payments (including payments returned for insufficient funds) on any of the CSCs or Leases shall be processed as follows: (i) all parties shall cooperate in correcting misapplication errors; (ii) the party receiving notice of a misapplied payment occurring prior to the First Closing Date and discovered after the First Closing Date shall immediately notify the other party; (iii) if a misapplied payment occurring prior to the First Closing Date cannot be identified and such misapplied payment has resulted in a shortage in a custodial account or escrow account, Seller shall be liable for the amount of such shortage and Seller shall reimburse Purchaser for the amount of such shortage within twenty (20) Business Days after the receipt of written demand therefor from Purchaser; (iv) if a misapplied payment that occurred prior to the First Closing Date has created an improper Purchase Price as the result of an inaccurate Net Portfolio Value, the party with notice of such misapplied payment shall promptly inform the other party and a wire transfer or check shall be issued to the party adversely affected by the improper payment application within ten (10) Business Days after notice thereof by the other party; and (v) any wire transfer or check issued under the provisions of this Section 7.01 shall be accompanied by a statement indicating the corresponding Seller and/or Purchaser identification number and an explanation of the allocation of any such payments.
Misapplied Payments. In the event the parties mutually determine in good faith that a payment described hereunder was misapplied, then the party erroneously receiving the payment shall remit the same to the party properly entitled to the payment within ten (10) business days after said determination is made.
Misapplied Payments. Immediately upon receipt thereof, at any time after the Funding Date with respect to any Lease Financing Loan, forward any payments received by it with respect to the Business Lease related to such Lease Financing Loan to the Custodian for deposit in the related Custodial Account.
Misapplied Payments. “Misapplied payment” shall mean a Mortgagor payment for which funds have been deposited in an incorrect Escrow Account or applied to an incorrect Mortgagor’s account. The existence of a canceled Mortgagor payment bearing the endorsement of Owner, for which funds have not been allocated to the proper Escrow Accounts, shall be considered conclusive evidence of a misapplied payment. Misapplied payments shall be processed as follows:
Misapplied Payments. If any payments on any Mortgage Loan were misapplied prior to the related Servicing Transfer Date, the parties shall cooperate in good faith to correct the application error in a timely fashion and in accordance with Accepted Servicing Practices.
Misapplied Payments. Misapplied payments on Mortgage Loans shall be processed as follows: (i) all parties shall cooperate in correcting misapplication errors; (ii) the party receiving notice of a misapplied payment occurring prior to the Servicing Transfer Date and discovered after the Servicing Transfer Date shall immediately notify the other party; (iii) if a misapplied payment which occurred prior to the Servicing Transfer Date has created an improper Purchase Price as the result of an inaccurate outstanding principal balance, the party with notice of such misapplied payment shall promptly inform the other party and funds shall be issued to the party shorted by the improper payment application within ten (10) business days after notice thereof by the other party; and (iv) any funds issued under the provisions of this section shall be accompanied by a statement indicating the corresponding Mortgagor and the Mortgage Loan identification number and an explanation of the allocation of any such payments.
Misapplied Payments. 24 7.9. Books and Records..................................................................................24 7.10. Compliance with Regulations.......................................................................24 7.11.
Misapplied Payments. The party receiving notice of a misapplied payment occurring prior to the Closing Date and discovered after the Closing Date shall immediately notify the other party and shall accompany such notification with the original of the applicable canceled check or similar supporting documentation (unless the other party is the party that has access to such documentation). All parties shall cooperate in correcting misapplication errors.
