Common use of Application of Payments Received by Administrator Clause in Contracts

Application of Payments Received by Administrator. 3.2.1. All payments received by the Administrator pursuant to this Agreement shall be applied as follows: (a) Firstly, to repay all Advances on which the Government of Canada pays Interest pursuant to the APP; (b) Secondly, on all other Advances and on all Interest; and (c) Finally, to pay any Fees and Costs and other amounts which have not already been paid. 3.2.2. Every repayment made from the sale of an Agricultural Product must be applied to repay the first outstanding amount from the oldest Advance issued during the earliest Program Year, before being applied to the most recent Advance;

Application of Payments Received by Administrator. 3.2.1. 3.2.1 All payments received by the Administrator pursuant to this Agreement shall be applied as follows: (a) Firstly, to repay all Advances on which the Government of Canada pays Interest pursuant to the APP; (b) Secondly, on all other Advances and on all Interest; (c) Thirdly, on any outstanding Penalties payable to the Administrator; and (cd) Finally, to pay any Fees and Costs and other amounts which have not already been paid. 3.2.2. 3.2.2 Every repayment made from the sale of an Agricultural Product must be applied to repay the first outstanding amount from the oldest Advance issued during the earliest Program Year, before being applied to the most recent Advance;