Receipt Allocations Clause Samples
The Receipt Allocations clause defines how payments or receipts from one party are distributed among various outstanding obligations under an agreement. Typically, this clause specifies the order in which payments are applied, such as first to accrued interest, then to principal, and finally to fees or other charges. By establishing a clear hierarchy for allocating received funds, the clause helps prevent disputes over payment application and ensures that both parties understand how their payments will be credited.
Receipt Allocations. If Producers’ Gas or MV Mitigation Gas is commingled with other gas at a ▇▇▇▇▇▇▇ Receipt Point, the allocation of Gas at each ▇▇▇▇▇▇▇ Receipt Point shall be based upon each Producers’ marketing percentage as defined by the Operator of that ▇▇▇▇▇▇▇ Receipt Point.