Common use of Payment Processing; Allocation; Priority of Payments Clause in Contracts

Payment Processing; Allocation; Priority of Payments. 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 three (3) Business Days after receipt.Until retail competition is introduced into the Service Area, any amounts collected by the Servicer that represent partial payments of the total Xxxx to a Customer shall be applied by the Servicer in the following order of priority: (1) to any amounts due with respect to customer deposits, (2) to all electric service charges of EGSI on the Xxxx and to all Transition Charges on the Xxxx, pro rata based upon the total amount billed, and (3) to tax and remaining charges billed to the Customers. Any amounts allocated to Transition Charge payments pursuant to (2) above shall be further allocated as follows: (A) first to amounts owed to the Issuer, EGSI and any other affiliate of EGSI which is owed "Transition Charges" as defined in Sections 39.302(7) and 39.460(f) of the Securitization Law (excluding any late fees and interest charges), regardless of age, pro rata in proportion to their respective percentages of the total amount of their combined outstanding charges on such Xxxx; then (B) all late charges shall be allocated to the Servicer; provided that penalty payments owed on late payments of Transition Charges shall be allocated to the Issuer in accordance with the terms of the Tariffs. If more than one Series of Transition Bonds is outstanding, the Servicer shall allocate amounts owed to the Issuer ratably based on the total amount of Transition Charges on such xxxx which were billed in respect of each such Series. It is understood that such allocations may be made on a delayed basis in accordance with the reconciliations described in Section 6 of this Annex.When and if the Service Area becomes subject to retail competition, the Servicer shall apply payments received to each Customer's or any and each Applicable REP's account in proportion to the charges contained on the outstanding Xxxx to such Customer or Applicable REP. Any amounts collected by the Servicer that represent partial payments of the total Xxxx to a Customer or any REP shall be allocated as follows: (A) first to amounts owed to the Issuer, EGSI and any other affiliate of EGSI which is owed "Transition Charges" as defined in Sections 39.302(7) and 39.460(f) of the Securitization Law (excluding any late fees and interest charges), regardless of age, pro rata in proportion to their respective percentages of the total amount of their combined outstanding charges on such Xxxx; then (B) all late charges shall be allocated to the Servicer; provided that penalty payments owed on late payments of Transition Charges shall be allocated to the Issuer in accordance with the terms of the Tariffs. If more than one Series of Transition Bonds is outstanding, the Servicer shall allocate amounts owed to the Issuer ratably based on the total amount of Transition Charges on such xxxx which were billed in respect of each such Series. It is understood that such allocations may be made on a delayed basis in accordance with the reconciliations described in Section 6(e) of this Annex I.The Servicer shall hold all over-payments for the benefit of the Issuer and EGSI and shall apply such funds to future Xxxx charges in accordance with clauses (ii) and (iii) (as applicable) as such charges become due.For Customers on a Budget Billing Plan, the Servicer shall treat TC Payments received from such Customers as if such Customers had been billed for their respective Transition Charges in the absence of the Budget Billing Plan; partial payment of a Budget Billing Plan payment shall be allocated according to clause (ii) or (iii) (as applicable) and overpayment of a Budget Billing Plan payment shall be allocated according to clause (iv).

Payment Processing; Allocation; Priority of Payments. 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 three (3) Business Days after receipt.. Until retail competition is introduced into the Service Area, any amounts collected by the Servicer that represent partial payments of the total Xxxx to a Customer shall be applied by the Servicer in the following order of priority: (1) to any amounts due with respect to customer deposits, (2) to all electric service charges of EGSI on the Xxxx and to all Transition Charges on the Xxxx, pro rata based upon the total amount billed, and (3) to tax and remaining charges billed to the Customers. Any amounts allocated to Transition Charge payments pursuant to (2) above shall be further allocated as follows: (A) first to amounts owed to the Issuer, EGSI and any other affiliate of EGSI which is owed "Transition Charges" as defined in Sections 39.302(7) and 39.460(f) of the Securitization Law (excluding any late fees and interest charges), regardless of age, pro rata in proportion to their respective percentages of the total amount of their combined outstanding charges on such Xxxx; then (B) all late charges shall be allocated to the Servicer; provided that penalty payments owed on late payments of Transition Charges shall be allocated to the Issuer in accordance with the terms of the Tariffs. If more than one Series of Transition Bonds is outstanding, the Servicer shall allocate amounts owed to the Issuer ratably based on the total amount of Transition Charges on such xxxx which were billed in respect of each such Series. It is understood that such allocations may be made on a delayed basis in accordance with the reconciliations described in Section 6 of this Annex.. When and if the Service Area becomes subject to retail competition, the Servicer shall apply payments received to each Customer's or any and each Applicable REP's account in proportion to the charges contained on the outstanding Xxxx to such Customer or Applicable REP. Any amounts collected by the Servicer that represent partial payments of the total Xxxx to a Customer or any REP shall be allocated as follows: (A) first to amounts owed to the Issuer, EGSI and any other affiliate of EGSI which is owed "Transition Charges" as defined in Sections 39.302(7) and 39.460(f) of the Securitization Law (excluding any late fees and interest charges), regardless of age, pro rata in proportion to their respective percentages of the total amount of their combined outstanding charges on such Xxxx; then (B) all late charges shall be allocated to the Servicer; provided that penalty payments owed on late payments of Transition Charges shall be allocated to the Issuer in accordance with the terms of the Tariffs. If more than one Series of Transition Bonds is outstanding, the Servicer shall allocate amounts owed to the Issuer ratably based on the total amount of Transition Charges on such xxxx which were billed in respect of each such Series. It is understood that such allocations may be made on a delayed basis in accordance with the reconciliations described in Section 6(e) of this Annex I.The I. The Servicer shall hold all over-payments for the benefit of the Issuer and EGSI and shall apply such funds to future Xxxx charges in accordance with clauses (ii) and (iii) (as applicable) as such charges become due.. For Customers on a Budget Billing Plan, the Servicer shall treat TC Payments received from such Customers as if such Customers had been billed for their respective Transition Charges in the absence of the Budget Billing Plan; partial payment of a Budget Billing Plan payment shall be allocated according to clause (ii) or (iii) (as applicable) and overpayment of a Budget Billing Plan payment shall be allocated according to clause (iv).

Payment Processing; Allocation; Priority of Payments. 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 three (3) Business Days after receipt.. Until retail competition is introduced into the Service Area, any amounts collected by the Servicer that represent partial payments of the total Xxxx to a Customer shall be applied by the Servicer in the following order of priority: (1) to any amounts due with respect to customer deposits, (2) to all electric service charges of EGSI ETI on the Xxxx and to all Transition Charges on the Xxxx, pro rata based upon the total amount billed, and (3) to tax and remaining charges billed to the Customers. Any amounts allocated to Transition Charge payments pursuant to (2) above shall be further allocated as follows: (A) first to amounts owed to the Issuer, EGSI ETI and any other affiliate of EGSI ETI which is owed "Transition Charges" as defined in Sections Section 39.302(7) and 39.460(fwhether as supplemented by 36.403(f) of the Securitization Law or another section of the Utilities Code (excluding any late fees and interest charges), regardless of age, pro rata in proportion to their respective percentages of the total amount of their combined outstanding charges on such Xxxx; then (B) all late charges shall be allocated to the Servicer; provided that penalty payments owed on late payments of Transition Charges shall be allocated to the Issuer in accordance with the terms of the Tariffs. If more than one Series of Transition Bonds is outstanding, the Servicer shall allocate amounts owed to the Issuer ratably based on the total amount of Transition Charges on such xxxx which were billed in respect of each such Series. It is understood that such allocations may be made on a delayed basis in accordance with the reconciliations described in Section 6 of this Annex.. When and if the Service Area becomes subject to retail competition, the Servicer shall apply payments received to each Customer's or any and each Applicable REP's account in proportion to the charges contained on the outstanding Xxxx to such Customer or Applicable REP. Any amounts collected by the Servicer that represent partial payments of the total Xxxx to a Customer or any REP shall be allocated as follows: (A) first to amounts owed to the Issuer, EGSI ETI and any other affiliate of EGSI ETI which is owed "Transition Charges" as defined in Sections 39.302(7) and 39.460(fwhether as supplemented by 36.403(f) of the Securitization Law or another section of the Utilities Code (excluding any late fees and interest charges), regardless of age, pro rata in proportion to their respective percentages of the total amount of their combined outstanding charges on such Xxxx; then (B) all late charges shall be allocated to the Servicer; provided that penalty payments owed on late payments of Transition Charges shall be allocated to the Issuer in accordance with the terms of the Tariffs. If more than one Series of Transition Bonds is outstanding, the Servicer shall allocate amounts owed to the Issuer ratably based on the total amount of Transition Charges on such xxxx which were billed in respect of each such Series. It is understood that such allocations may be made on a delayed basis in accordance with the reconciliations described in Section 6(e) of this Annex I.The I. The Servicer shall hold all over-payments for the benefit of the Issuer and EGSI ETI and shall apply such funds to future Xxxx charges in accordance with clauses (ii) and (iii) (as applicable) as such charges become due.. For Customers on a Budget Billing Plan, the Servicer shall treat TC Payments received from such Customers as if such Customers had been billed for their respective Transition Charges in the absence of the Budget Billing Plan; partial payment of a Budget Billing Plan payment shall be allocated according to clause (ii) or (iii) (as applicable) and overpayment of a Budget Billing Plan payment shall be allocated according to clause (iv).