Allocations of Obligor's Payments. Except as provided in Section 3.03(a) or as otherwise required by law or the underlying Contract, all Collections received from an Obligor of any Receivable shall be applied to Receivables then outstanding of such Obligor in the order of the age of such Receivables, starting with the oldest such Receivable, except if payment is designated by such Obligor for application to specific Receivables, in which case it shall be applied to such specified Receivables.
Appears in 3 contracts
Samples: Receivables Purchase Agreement (Applied Power Inc), Receivables Purchase Agreement (Applied Power Inc), Receivables Purchase Agreement (Applied Power Inc)
Allocations of Obligor's Payments. Except as provided in Section 3.03(aSECTION 3.3(A) or as otherwise required by law or the underlying Contract, all Collections received from an Obligor of any Receivable shall be applied to Receivables then outstanding of such Obligor in the order of the age of such Receivables, starting with the oldest such Receivable; PROVIDED, except HOWEVER, that, if payment is designated by such Obligor for application to specific Receivables, in which case it shall be applied to such specified Receivables.
Appears in 2 contracts
Samples: Transfer and Administration Agreement (Wackenhut Corp), Transfer and Administration Agreement (Wackenhut Corp)
Allocations of Obligor's Payments. Except as provided in Section 3.03(a3.3(a) or as otherwise required by law or the underlying Contract, all Collections received from an Obligor of any Receivable shall be applied to Receivables then outstanding of such Obligor in the order of the age of such Receivables, starting with the oldest such Receivable; provided, except however, that, if payment is designated by such Obligor for application to specific Receivables, in which case it shall be applied to such specified Receivables.
Appears in 1 contract
Samples: Transfer and Administration Agreement (Wackenhut Corp)
Allocations of Obligor's Payments. Except as provided in Section 3.03(a3.04(a) or as otherwise required by law or the underlying Contract, all Collections received from an Obligor of any Receivable shall be applied to such Obligor's Receivables then outstanding of such Obligor in the order of the age of such Receivables, starting with the oldest such Receivable; provided, except however, that, if payment is designated by such Obligor for application to specific Receivables, in which case it shall be applied to such specified Receivables.
Appears in 1 contract
Samples: Receivables Purchase Agreement (Amphenol Corp /De/)
