Common use of Account Allocations Clause in Contracts

Account Allocations. In the event that any Seller is unable for any reason to transfer Receivables to the Trust in accordance with the provisions of this Agreement (including, without limitation, by reason of any governmental agency having regulatory authority over any Seller or any court of competent jurisdiction ordering that any Seller not convey any additional Principal Receivables to the Trust) then, in any such event, such Seller agrees to allocate and pay to the Trust, after the date of such inability, all Collections with respect to Receivables that would have been Principal Receivables but for the inability to transfer such Receivables (up to an aggregate amount equal to the amount of Principal Receivables in the Trust on such date with respect to Principal Receivables transferred to the Trust by such Seller); and such Seller agrees to have such amounts applied as Collections in accordance with Section 4.03. If such Seller is unable pursuant to any Requirement of Law to allocate payments on the Accounts as described above, such Seller agrees that it shall, in any such event, allocate after such date payments on each Account with respect to the principal balance of such Account first to the oldest principal balance of such Account and to have such payments applied as Collections in accordance with Section 4.03. The parties hereto agree that Finance Charge Receivables, whenever created, accrued in respect of Principal Receivables that have been conveyed to the Trust by any Seller shall continue to be a part of the Trust notwithstanding any cessation of the transfer of additional Principal Receivables to the Trust, and Collections with respect thereto shall continue to be allocated and paid in accordance with Section 4.03.

Account Allocations. In the event that any Seller the Transferor is unable for any reason to transfer Receivables to the Trust in accordance with the provisions of this Agreement (including, without limitation, by reason of any governmental agency having regulatory authority over any Seller the Transferor or any court of competent jurisdiction ordering that any Seller the Transferor not convey any additional Principal Receivables to the Trust) then, in any such event, such Seller the Transferor agrees to allocate and pay to the Trust, after the date of such inability, all Collections with respect to Receivables that would have been Principal Receivables but for the inability to transfer such Receivables (up to an aggregate amount equal to the amount of Principal Receivables in the Trust on such date with respect to Principal Receivables transferred to the Trust by such Sellerthe Transferor); and such Seller the Transferor agrees to have such amounts applied as Collections in accordance with Section 4.03. If such Seller the Transferor is unable pursuant to any Requirement of Law to allocate payments on the Accounts as described above, such Seller the Transferor agrees that it shall, in any such event, allocate after such date payments on each Account with respect to the principal balance of such Account first to the oldest principal balance of such Account and to have such payments applied as Collections in accordance with Section 4.03. The parties hereto agree that Finance Charge Receivables, whenever created, accrued in respect of Principal Receivables that have been conveyed to the Trust by any Seller the Transferor shall continue to be a part of the Trust notwithstanding any cessation of the transfer of additional Principal Receivables to the Trust, and Collections with respect thereto shall continue to be allocated and paid in accordance with Section 4.03.

Account Allocations. In the event that any RPA Seller is unable for any reason to transfer Receivables to the Trust Purchaser in accordance with the provisions of this Agreement (including, without limitation, by reason of the application of the provisions of Section 8.02 or an order by any federal governmental agency having regulatory authority over any RPA Seller or any court of competent jurisdiction ordering that any RPA Seller not convey transfer any additional Principal Receivables to the TrustPurchaser) then, in any such event, such RPA Seller agrees to allocate and pay to the TrustPurchaser, after the date of such inability, all Collections with respect to Receivables that would have been Principal Receivables but for the inability previously sold to transfer such Receivables (up to an aggregate amount equal to the amount of Principal Receivables in the Trust on such date with respect to Principal Receivables transferred to the Trust by such Seller); and such Seller agrees to have such amounts applied as Collections in accordance with Section 4.03Purchaser. If such RPA Seller is unable pursuant to any Requirement of Law to allocate payments on the Accounts Collections as described above, such RPA Seller agrees that it shall, shall in any such event allocate, after the occurrence of such event, allocate after such date payments on each Account with respect to the principal balance of such Account first to the oldest principal balance of such Account and to have such payments applied as Collections in accordance with Section 4.03the Transaction Documents. The parties hereto agree that Finance Charge Receivables, whenever created, accrued in respect of Principal Receivables that have been conveyed to the Trust by any Seller Purchaser shall continue to be a part of the Trust owned by Purchaser or its assignee notwithstanding any cessation of the transfer of additional Principal Receivables to the Trust, Purchaser and Collections with respect thereto shall continue to be allocated and paid in accordance with Section 4.03the Transaction Documents.

Account Allocations. In the event that any the Seller is unable for any reason to transfer sell Receivables to the Trust Buyer in accordance with the provisions of this Agreement (including, without limitation, by reason of the application of the provisions of Section 8.2 or any governmental agency Governmental Authority having regulatory authority over any the Seller or any court of competent jurisdiction ordering that any the Seller not convey sell any additional Principal Receivables to the Trust) thenBuyer), then in any such event, such the Seller agrees (except as prohibited by any such order) to allocate and pay to the TrustBuyer, after the date of such inability, all Collections with respect to Receivables that would have been Principal Receivables but for the inability to transfer such Receivables (up to an aggregate amount equal previously sold to the amount of Principal Receivables in Buyer. To the Trust on such date with respect to Principal Receivables transferred extent that it is not clear to the Trust by such Seller); and such Seller agrees whether collections relate to have such amounts applied as Collections in accordance with Section 4.03. If such a Principal Receivable that was sold to the Buyer or to a principal receivable that the Seller is unable pursuant to any Requirement of Law sell to allocate payments on the Accounts as described aboveBuyer, such the Seller agrees that it shall, in any such event, shall allocate after such date payments on each Account or Additional Account with respect to the principal balance of such Account or Additional Account first to the oldest principal balance of such Account and or Additional Account. Notwithstanding any cessation of the sale to have such payments applied as Collections in accordance with Section 4.03. The parties hereto agree that Finance Charge the Buyer of additional Principal Receivables, whenever createdPrincipal Receivables sold to the Buyer prior to the occurrence of the event giving rise to such inability, accrued Collections in respect of such Principal Receivables, Finance Charge and Administrative Receivables whenever created that have been conveyed to the Trust by any Seller accrue in respect of such Principal Receivables, and Collections in respect of such Finance Charge and Administrative Receivables, shall continue to be a part property of the Trust notwithstanding any cessation of Buyer available for transfer by the transfer of additional Principal Receivables Buyer to the Trust, and Collections with respect thereto shall continue to be allocated and paid in accordance with Section 4.03Purchasers listed on Schedule 3.

Account Allocations. In the event that any the Seller is unable for any reason to transfer Receivables to the Trust Purchaser in accordance with the provisions of this Agreement (including, without limitation, by reason of an order by any federal or state governmental agency having regulatory authority over any the Seller or any court of competent jurisdiction ordering that any the Seller not convey transfer any additional Principal Receivables to the Trust) then, in any such event, such (A) the Seller agrees to allocate and pay to the TrustPurchaser, after the date of such inability, all Collections with respect to Receivables that Principal Receivables, and all amounts which would have been constituted Collections with respect to Principal Receivables but for the Seller's inability to transfer such Receivables (up to an aggregate amount equal to the amount of Principal Receivables in the Trust on such date with respect to Principal Receivables transferred to the Trust by such Sellerdate); and such (B) the Seller agrees to have such amounts applied as Collections in accordance with Section 4.03Article IV of the Pooling and Servicing Agreement. If such the Seller is unable pursuant to any Requirement of Law to allocate payments on the Accounts Collections as described above, such Seller agrees that it shall, in any such event, allocate after such date payments on each Account with respect to the principal balance of such Account shall be allocated first to the oldest principal balance of such Account and to have such payments applied as Collections in accordance with Section 4.03Account. The parties hereto agree that Finance Charge Receivables, whenever created, created or accrued in respect of Principal Receivables that which have been conveyed to the Trust Purchaser (and by any Seller the Purchaser to the Trust) shall continue to be a part of the Trust notwithstanding any cessation of the transfer of additional Principal Receivables to the Trust, Purchaser and Collections with respect thereto shall continue to be allocated and paid in accordance with Section 4.03Article IV of the Pooling and Servicing Agreement.

Account Allocations. In the event that any the Seller is unable for ------------------- any reason to transfer sell Receivables to the Trust Purchaser in accordance with the provisions of this Agreement (including, without limitation, by reason of the application of the provisions of Section 8.2 or a binding order of any governmental agency having regulatory authority over any Seller or any court of competent jurisdiction ordering that any Seller not convey any additional Principal Receivables to the Trust) Governmental Authority), then, in any such event, such the Seller agrees (except as prohibited by any such order) to allocate and pay to the TrustPurchaser, after the date of such inability, all Collections with respect of Principal Receivables sold to Receivables that the Purchaser prior to the occurrence of such event and all amounts which would have been constituted Collections of Principal Receivables but for the Seller's inability to transfer sell such Receivables (up to an aggregate amount equal to the amount of Principal Receivables in the Trust on such date with respect to Principal Receivables transferred to the Trust by such Seller); and such Seller agrees to have such amounts applied as Collections in accordance with Section 4.03Purchaser. If such the Seller is unable pursuant to any Requirement of Law to allocate payments on the Accounts amounts as described above, such the Seller agrees that it shall, in any such event, (except as prohibited by law) to allocate after such date payments on each Account with respect to the principal balance of such Account first to the oldest principal balance of Receivable in such Account and to have such payments applied as Collections in accordance with Section 4.03Account. The parties hereto agree that Finance Charge Receivables, whenever created, accrued in respect of Principal Receivables that which have been conveyed sold to the Trust by any Seller Purchaser, or which would have been sold to the Purchaser but for the Seller's inability to sell Receivables to the Purchaser, shall continue to be a part property of the Trust Purchaser notwithstanding any cessation of the transfer sale of additional Principal Receivables to the Trust, and Collections with respect thereto shall continue to be allocated and paid in accordance with Section 4.03Purchaser.

Account Allocations. In the event that any Seller If Transferor is unable for any reason to transfer Receivables Transferred Interests to the Trust Buyer in accordance with the provisions of this Agreement (including, without limitation, including by reason of the application of the provisions of Section 5.1 or an order by any governmental agency having regulatory authority over any Seller or any court of competent jurisdiction ordering Governmental Authority that any Seller Transferor not convey transfer any additional Principal Receivables to the TrustBuyer) then, in any such event, such Seller Transferor agrees to allocate and pay to the TrustBuyer, after the date of such inability, all Collections with respect to Receivables that Principal Receivables, and all amounts which would have been constituted Collections with respect to Principal Receivables but for the Transferor’s inability to transfer such Receivables Transferred Interests (up to an aggregate amount equal to the amount of Principal Receivables in the Trust held by Buyer on such date with respect to Principal Receivables transferred to the Trust by such Sellerof inability); and such Seller agrees to have such amounts applied as Collections in accordance with Section 4.03. If such Seller Transferor is unable pursuant to any Requirement of Law to allocate payments on the Accounts pay to Buyer Collections as described above, such Seller Transferor agrees that it shallshall allocate collections, charge-offs and other incidents of the receivables in any such event, allocate after such date payments the Accounts between Transferred Interests and other receivables outstanding in the Accounts on each Account with respect a basis reasonably intended to approximate the principal balance of such Account first actual portions allocable to the oldest principal balance of such Account Transferred Interests and to have such payments applied as Collections in accordance with Section 4.03other receivables respectively. The parties hereto agree that Finance Charge Receivables, whenever created, accrued in respect of Principal Receivables that have been conveyed to Buyer, or that would have been conveyed to Buyer but for the Trust by any Seller above described inability to transfer such Receivables, shall continue to be a part of the Trust held by Buyer notwithstanding any cessation of the transfer of additional Principal Receivables to the Trust, and Collections with respect thereto shall continue to be allocated and paid in accordance with Section 4.03Buyer.

Account Allocations. In the event that any Seller Sears is unable for any reason to transfer Receivables Add-ons to the Trust SRFG in accordance with the provisions of this Agreement (including, without limitation, by reason of any governmental agency having regulatory authority over any Seller Sears or any court of competent jurisdiction ordering that any Seller Sears not convey any additional Principal Receivables Add-ons to the TrustSRFG) then, in any such event, such Seller Sears agrees to allocate and pay to the TrustSRFG, after the date of such inability, all Collections with respect to Receivables that Principal Receivables, and all amounts which would have constituted Collections with respect to Add-ons which would have been Principal Receivables but for the Sears inability to transfer such Receivables (up to an aggregate amount equal to the amount of Principal Receivables in the Trust on such date with respect to Principal Receivables transferred to the Trust by such Seller)Add-ons; and such Seller Sears agrees to have such amounts applied as Collections in accordance with Section 4.032.01(b) and Article VII hereof and in accordance with any applicable Pooling and Servicing Agreement. If such Seller Sears is unable pursuant to any Requirement of Law to allocate payments on the Accounts Collections as described above, such Seller Sears agrees that it shall, in any such event, allocate after such date payments on to each Account with respect to the principal balance of such Account first to the oldest principal balance of such Account and to have such payments applied as Collections in accordance with Section 4.032.01(b) and Article VII of this Agreement and or accordance with any applicable Pooling and Servicing Agreement. The parties hereto agree that Finance Charge ReceivablesReceivables with respect to finance charges, whenever created, accrued in respect of Principal Receivables that which have been conveyed to the Trust SRFG by any Seller Sears shall continue to be a part of the Trust owned by SRFG notwithstanding any cessation of the transfer of additional Principal Receivables to the Trust, SRFG and Collections with respect thereto shall continue to be allocated and paid in accordance with Section 4.03Article VII.