Collections Allocable and Aggregate Clause Samples
The "Collections Allocable and Aggregate" clause defines how collected funds are to be allocated and aggregated among relevant parties under an agreement. It typically specifies the method for determining which collections are allocable to specific obligations or accounts, and how these amounts are aggregated for reporting or distribution purposes. For example, it may outline that payments received are first applied to outstanding principal, then to interest, or that collections from multiple sources are combined before allocation. This clause ensures transparency and fairness in the distribution of collected funds, preventing disputes over how payments are applied and clarifying the financial responsibilities of each party.
Collections Allocable and Aggregate. Amounts Available for the Current Payment Date::
i. Remittances for the ___ Collection Period $_________ ii. Remittances for the ___ Collection Period $_________ iii. Remittances for the ___ Collection Period $_________ iv. Remittances for the ___ Collection Period $_________ v. Remittances for the ___ Collection Period $_________ vi. Remittances for the ___ Collection Period $_________ vii. Investment Earnings on Collection Account viii. Investment Earnings on Capital Subaccount ix. Investment Earnings on Excess Funds Subaccount x. Investment Earnings on General Subaccount $_________ $_________ $_________
Collections Allocable and Aggregate. Amounts Available for the Current Payment Date:
i. Remittances for the Collection Period $ ii. Remittances for the Collection Period $ iii. Remittances for the Collection Period $ iv. Remittances for the Collection Period $ v. Remittances for the Collection Period $ vi. Remittances for the Collection Period $ Investment Earnings on Collection Account