Regular Payments. A regular pay- ment is credited to a scheduled install- ment on program and non-program loans. Regular payments are applied to loans in the following order: (1) Annual operating loan; (2) Delinquent FLP installments, paying least secured loans first; (3) Non-delinquent FLP installments due in the current production cycle in order of security priority, paying least secured loans first; (4) Any future installments due.
Appears in 4 contracts
Samples: Training Agreement, Training Agreement, Training Agreement
