1. The proceeds of financial assets shall be allocated only to the uses set out in Article 4(1), or, where applicable, to the uses set out in Article 4(2) and (3).
2. The proceeds of financial assets may be allocated to other, subsequent financial assets, provided that:
((a))
there are not more than three subsequent financial assets in succession;
((b))
the proceeds from the financial assets last in the sequence are allocated to the uses set out in Article 4(1), first subparagraph, point (a), (b), (c) or (e), or, where applicable, to the uses set out in Article 4(3); and
((c))
the issuer ensures that it is possible for external reviewers to review effectively the final allocation of proceeds.