Common use of Amounts paid will be allocated as follows Clause in Contracts

Amounts paid will be allocated as follows. (1) any costs of recovery of any amounts due including fees for reminder letters and default interest; (2) nominal interest; (3) the credit principal; and (4) any other amounts owed by you.

Amounts paid will be allocated as follows. (1) any costs of recovery of any amounts due including fees for reminder letters and default interest; (2) nominal draw down fees and interest; (3) the credit principalprinci- pal; and (4) any other amounts owed by you.