General Settlement Procedures. (a) Except as set forth in clauses (b) and (c) below or as otherwise required by law or the underlying Contract, all Collections received from an Obligor of any Pool Receivable shall be applied to Pool Receivables then outstanding of such Obligor in the order of the age of such Pool Receivables, starting with the oldest such Pool Receivable, except if payment is designated by such Obligor for application to specific Pool Receivables.
Appears in 3 contracts
Samples: Receivables Purchase Agreement (Fidelity National Information Services, Inc.), Receivables Purchase Agreement (Lyondell Chemical Co), Receivables Purchase Agreement (Chemtura CORP)
General Settlement Procedures. (a) Except as set forth in clauses (ba) and (cb) below or as otherwise required by law or the underlying Contract, all Collections received from an Obligor of any Pool Receivable shall be applied to Pool Receivables then outstanding of such Obligor in the order of the age of such Pool Receivables, starting with the oldest such Pool Receivable, except if payment is designated by such Obligor for application to specific Pool Receivables.
Appears in 3 contracts
Samples: Receivables Purchase Agreement (Lyondell Chemical Co), Receivables Purchase Agreement (Equistar Chemicals Lp), Receivables Purchase Agreement (Lyondell Chemical Co)
