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

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 three (3) Business Days after receipt. (ii) Subject to clause (iii) below, the Servicer shall apply payments received to each Customer’s account in proportion to the charges contained on the outstanding Bill to such Customer. (iii) If any amounts collected by the Servicer represent partial payments of the total Bill to a Customer, first dollars collected of such payments shall be attributed to past due balances, if any, and the remainder shall be allocated ratably among the Securitized Utility Tariff Charges and other amounts due for that given prior or current period bill in proportion to their percentage of the overall bill. (iv) The Servicer shall hold all over-payments for the benefit of the Issuer and Evergy Missouri West and shall apply such funds to future Bill charges in accordance with clauses (ii) and (iii) as such charges become due.

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 three (3) Business Days after receipt. (ii) Subject to clause (iii) below, the Servicer shall apply payments received to each Customer’s account in proportion to the charges contained on the outstanding Bill to such Customer. (iii) If any amounts collected by the Servicer represent partial payments of the total Bill to a Customer, first dollars collected of such payments shall be attributed to past due balances, if any, and the remainder shall be allocated ratably among the Securitized Utility Tariff Charges and other amounts due for that given prior or current period bill in proportion to their percentage of the overall bill. (iv) The Servicer shall hold all over-payments for the benefit of the Issuer and Evergy Ameren Missouri West and shall apply such funds to future Bill charges in accordance with clauses (ii) and (iii) as such charges become due.