Payment Processing; Allocation; Priority of Payments. (i) The Servicer shall post all payments received to Customer accounts as promptly as practicable, and, in any event, substantially all payments shall be posted no later than two Servicer Business Days after receipt. (ii) The Servicer shall allocate cash collections on a Customer-by-Customer basis. The first dollars collected shall be attributed to past due balances (which include late fees), if any. Once those balances are paid in full, if cash collections are not sufficient to pay a Customer’s current b▇▇▇ then the cash shall be prorated between the different components of the b▇▇▇.
Appears in 3 contracts
Sources: Environmental Control Property Servicing Agreement (WEPCo Environmental Trust Finance I, LLC), Environmental Control Property Servicing Agreement (WEPCo Environmental Trust Finance I, LLC), Environmental Control Property Servicing Agreement (WEPCo Environmental Trust Finance I, LLC)