IBM Credit. may apply any payments and Supplier Credits received by IBM Credit to reduce finance charges first and then to principal amounts of Advances owed by Customer. IBM Credit may apply principal payments to the oldest (earliest) invoices (and related Product Advances) first, but, in any case, all principal payments will be applied in respect of the Outstanding Product Advances made for Products which have been sold, lost, stolen, destroyed, damaged or otherwise disposed of prior to any other application thereof.
Appears in 4 contracts
Samples: Financing Agreement (Datatec Systems Inc), Financing Agreement (Datatec Systems Inc), Financing Agreement (Syscomm International Corp)
IBM Credit. may apply any payments and Supplier Credits received by IBM Credit to reduce attorney’s fees and costs of collection first, then finance charges first second and then to principal amounts of Advances owed by CustomerCustomers. IBM Credit may apply principal payments to the oldest (earliest) invoices (and related Product Advances) first, but, in any case, all principal payments will be applied in respect of the Outstanding Product Advances made for Products which have been sold, lost, stolen, destroyed, damaged or otherwise disposed of prior to any other application thereof.
Appears in 1 contract
Samples: Agreement for Inventory Financing (Pc Connection Inc)
