Common use of Allocation of Compensation Clause in Contracts

Allocation of Compensation. Without prejudice to the Seller’s other rights and remedies under this Agreement or under any Applicable Law: (a) the Purchaser agrees to pay Compensation to the Seller on any and all overdue Instalments (and on all other overdue monies payable by the Purchaser under this Agreement) from the respective Instalment Payment Date (or the day such payment became due for payment) until the actual date full payment is received by the Seller (or into the Escrow Account) as cleared funds. The Purchaser agrees that any funds received by the Seller from the Purchaser will be allocated first in the discharge of any Compensation, then towards any and all other monies due under this Agreement, and then towards payment of the Purchase Price and the Purchasers acknowledges that the Seller reserves the right to allocate such sums towards the payment of Compensation and/or any other monies due in the order the Seller choose and at the Seller’s sole discretion; and (b) the Purchaser indemnifies, keeps indemnified and holds the Seller harmless from and against any and all costs whatsoever, including lawyers’ fees, agents’ fees, collection fees and commissions, expenses, administration costs and other charges, that may be incurred by the Seller in the recovery of any monies owed by the Purchaser pursuant to this Agreement. DRAFT

Allocation of Compensation. Without prejudice to the Seller’s other rights and remedies under this Agreement or under any Applicable Law: (a) the Purchaser agrees to pay Compensation to the Seller on any and all overdue Instalments (and on all other overdue monies payable by the Purchaser under this Agreement) from the respective Instalment Payment Date (or the day such payment became due for payment) until the actual date full payment is received by the Seller (or into the Escrow Account) as cleared funds. The Purchaser agrees that any funds received by the Seller from the Purchaser will be allocated first in the discharge of any Compensation, then towards any and all other monies due under this Agreement, and then towards payment of the Purchase Price and the Purchasers acknowledges that the Seller reserves the right to allocate such sums towards the payment of Compensation and/or any other monies due in the order the Seller choose and at the Seller’s sole discretion; and (b) the Purchaser indemnifies, keeps indemnified and holds the Seller harmless from and against any and all costs whatsoever, including lawyers’ fees, agents’ fees, collection fees and commissions, expenses, administration costs and other charges, that may be incurred by the Seller in the recovery of any monies owed by the Purchaser pursuant to this Agreement. DRAFT.