Certain Allocations. The Transferor and the Transferee hereby agree that, unless otherwise required by applicable Law or unless an Obligor designates that a payment be applied to a specific Receivable, all Collections from an Obligor shall be applied to the oldest Receivables (whether or not such Receivables are Transferred Receivables) of such Obligor.
Appears in 3 contracts
Sources: Transfer Agreement (TRW Automotive Inc), Transfer Agreement (TRW Automotive Inc), Transfer Agreement (TRW Automotive Holdings Corp)