Certain Allocations. 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 Holding CO), Receivables Purchase Agreement (Nalco Finance Holdings LLC)
Certain Allocations. The 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)
