Common use of Allocations of Collections Clause in Contracts

Allocations of Collections. If an Obligor is obligated under one or more Receivables and also under one or more other assets owned by Ford Credit or assigned by Ford Credit to third parties, then any payment on any such asset received from or on behalf of such Obligor shall, if identified as being made with respect to a particular item or asset, be applied to such item, and otherwise shall be allocated by Ford Credit in accordance with its customary standards, policies and procedures.

Allocations of Collections. If an Obligor is obligated under one or more Receivables and also under one or more other assets owned by Ford Credit or assigned by Ford Credit to third parties, then any payment on any such asset received from or on behalf of such Obligor shallwill, if identified as being made with respect to a particular item or asset, be applied to such item, and otherwise shall will be allocated by Ford Credit in accordance with its customary standards, policies and procedures.