Common use of Account Allocations Clause in Contracts

Account Allocations. If a Transfer Restriction Event occurs, FSB agrees (except as prohibited by any such order or any Requirement of Law) to allocate and pay to RFC IV, after the date of such Transfer Restriction Event, all Collections with respect to Principal Receivables previously sold to RFC IV. To the extent that it is not clear to FSB whether collections relate to a Receivable that was sold to RFC IV or to a receivable that FSB is unable to sell to RFC IV, FSB agrees that it shall allocate payments on each Account with respect to the principal balance of such Account first to the oldest principal balance of such Account. Notwithstanding any cessation of the sale to RFC IV of additional Principal Receivables, Principal Receivables sold to RFC IV prior to the occurrence of the Transfer Restriction Event, Collections in respect of such Principal Receivables, Finance Charge Receivables whenever created that accrue in respect of such Principal Receivables, Collections in respect of such Finance Charge Receivables, and Issuer Rate Fees allocable to the foregoing shall continue to be property of RFC IV available for transfer by RFC IV to the Trustee pursuant to the Pooling and Servicing Agreement.

Account Allocations. If a Transfer Restriction Event occurs, FSB Centurion agrees (except as prohibited by any such order or any Requirement of Law) to allocate and pay to RFC IVIII, after the date of such Transfer Restriction Event, all Collections with respect to Principal Receivables previously sold to RFC IVIII. To the extent that it is not clear to FSB Centurion whether collections relate to a Receivable that was sold to RFC IV III or to a receivable that FSB Centurion is unable to sell to RFC IVIII, FSB Centurion agrees that it shall allocate payments on each Account with respect to the principal balance of such Account first to the oldest principal balance of such Account. Notwithstanding any cessation of the sale to RFC IV III of additional Principal Receivables, Principal Receivables sold to RFC IV III prior to the occurrence of the Transfer Restriction Event, Collections in respect of such Principal Receivables, Finance Charge Receivables whenever created that accrue in respect of such Principal Receivables, Collections in respect of such Finance Charge Receivables, and Issuer Rate Fees allocable to the foregoing shall continue to be property of RFC IV III available for transfer by RFC IV III to the Trustee pursuant to the Pooling and Servicing Agreement.