Common use of Certain Allocations Clause in Contracts

Certain Allocations. Each Seller and the Buyer hereby agree that, unless otherwise required by applicable Law or unless an Obligor designates that a payment be applied to a specific Receivable, all Collections from an Obligor shall be applied to the oldest Receivables (whether or not such Receivables are Purchased Receivables) of such Obligor.

Appears in 3 contracts

Samples: Receivables Purchase Agreement (TRW Automotive Inc), Receivables Purchase Agreement (TRW Automotive Inc), Receivables Purchase Agreement (Nalco Global Holdings LLC)

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Certain Allocations. Each The Seller and the Buyer hereby agree that, unless otherwise required by applicable Law or unless an Obligor designates that a payment be applied to a specific Receivable, all Collections from an Obligor shall be applied to the oldest Receivables (whether or not such Receivables are Purchased Receivables) of such Obligor.

Appears in 3 contracts

Samples: Receivables Purchase Agreement (Nalco Holding CO), Receivables Purchase Agreement (Nalco Finance Holdings LLC), Receivables Purchase Agreement (Nalco Holding CO)

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