Application of Obligor Payments. Any payment by an Obligor in respect of any indebtedness owed by it to the Borrower shall, except as otherwise specified by such Obligor or otherwise required by contract or law and unless otherwise instructed by the Administrative Agent, be applied as a collection of a payment by such Obligor (starting with the oldest such outstanding payment due) to the extent of any amounts then due and payable thereunder before being applied to any other receivable or other obligation of such Obligor.
Application of Obligor Payments. Apply payments made by an Obligor under a Contract relating to a Pool Receivable to amounts billed on such Obligor’s invoice in the following order: (i) first, to amounts due in respect of the related Pool Receivables; (ii) second, to amounts due in respect of the related Service Charge Receivables; and (iii) third, other amounts owing by such Obligor. For the avoidance of doubt, any amounts paid by any Obligor in respect of Service Charge Receivables that must be applied pursuant to clause (i) above shall be deemed to be Collections and remitted to the Payment Account pursuant to the terms of this Agreement and the other Transaction Documents as such.
Application of Obligor Payments. Unless an Obligor arranges with the applicable Originator for a different application of payments, payments made by an Obligor in respect of a Pool Receivable will be applied to amounts billed on such Obligor’s invoice in the following order: (i) to amounts past due under any ISC Contract of such Obligor; (ii) to amounts past due under any Lease Contract of such Obligor; (iii) to amounts past due under any SCC Contract and other items past due (other than payments currently due under any Lease Contract, ISC Contract, or SCC Contract of such Obligor); (iv) to amounts currently due under any ISC Contract of such Obligor; (v) to amounts currently due under any Lease Contract of such Obligor, and (vi) to amounts currently due under any SCC Contract and items due other than payments due under any Lease Contracts, any ISC Contract, or SCC Contract of such Obligor.
Application of Obligor Payments. Apply payments made by an Obligor under a Contract relating to a Transferred Receivable to amounts billed on such Obligor’s SK 28677 0004 8422003 v14 invoice in the following order: (i) first, to amounts due in respect of the related Transferred Receivables; (ii) second, to amounts due in respect of the related Service Charge Receivables; and (iii) third, other amounts owing by such Obligor. For the avoidance of doubt, any amounts paid by any Obligor in respect of Service Charge Receivables that must be applied pursuant to clause (i) above, shall be deemed to be Collections and remitted to the Collateral Agent's Account on behalf of the Buyer pursuant to the terms of this Agreement and the other Transaction Documents as such.
Application of Obligor Payments. APPLY PAYMENTS MADE BY AN OBLIGOR UNDER A CONTRACT RELATING TO A POOL RECEIVABLE TO AMOUNTS BILLED ON SUCH OBLIGOR’S INVOICE IN THE FOLLOWING ORDER: (I) FIRST, TO AMOUNTS DUE IN RESPECT OF THE RELATED POOL RECEIVABLES; (II) SECOND, TO AMOUNTS DUE IN RESPECT OF THE RELATED SERVICE CHARGE RECEIVABLES; AND (III) THIRD, OTHER AMOUNTS OWING BY SUCH OBLIGOR. FOR THE AVOIDANCE OF DOUBT, ANY AMOUNTS PAID BY ANY OBLIGOR IN RESPECT OF SERVICE CHARGE RECEIVABLES THAT MUST BE APPLIED PURSUANT TO CLAUSE (I) ABOVE, SHALL BE DEEMED TO BE COLLECTIONS AND REMITTED TO THE COLLATERAL AGENT’S ACCOUNT PURSUANT TO THE TERMS OF THIS AGREEMENT AND THE OTHER TRANSACTION DOCUMENTS AS SUCH.
