Common use of Partial Collections Clause in Contracts

Partial Collections. Upon a partial payment of amounts billed, after application of late payment charges, partial payments shall be allocated ratably among the Storm Recovery Charges, any similar securitization charges and DEP’s other billed amounts in a manner that is consistent with DEP’s current process for allocating partial payments where cash collections are first applied to billed deposits, then to installment plans (if any are existing), past due charges, including past due storm recovery charges, current month charges, including storm recovery charges and finally to late payment fees.