Common use of Account Allocations Clause in Contracts

Account Allocations. If a Transfer Restriction Event occurs, Centurion agrees (except as prohibited by any such order or any Requirement of Law) to allocate and pay to RFC III, after the date of such Transfer Restriction Event, all Collections with respect to Principal Receivables previously sold to RFC III. To the extent that it is not clear to Centurion whether collections relate to a Receivable that was sold to RFC III or to a receivable that Centurion is unable to sell to RFC III, 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 III of additional Principal Receivables, Principal Receivables sold to RFC 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 III available for transfer by RFC III to the Trustee pursuant to the Pooling and Servicing Agreement.

Account Allocations. If a Transfer Restriction Event occurs, Centurion FSB agrees (except as prohibited by any such order or any Requirement of Law) to allocate and pay to RFC IIIIV, after the date of such Transfer Restriction Event, all Collections with respect to Principal Receivables previously sold to RFC IIIIV. To the extent that it is not clear to Centurion FSB whether collections relate to a Receivable that was sold to RFC III IV or to a receivable that Centurion FSB is unable to sell to RFC IIIIV, Centurion 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 III IV of additional Principal Receivables, Principal Receivables sold to RFC III 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 III IV available for transfer by RFC III IV to the Trustee pursuant to the Pooling and Servicing Agreement.