The "Field" terminal needs to wire up to the "F" terminal on the S/G. The "Gen" terminal needs to wire up to the "A" terminal on the S/G. The "Bat" terminal needs to run back to the charge indicator, which then runs to the battery.
When I wired my 107 the order from left to right was "Field, Gen, Batt" just as the manual states. Though I used an Original regulator. IIRC there are differences between the old and new regulators. The "L" terminal you have should be for "load" which would be connected to either lights or an electric lift to provide those with power without draining the battery. The "Gen" terminal
should then be on the other side of the regulator.
Wire up the Bat and F terminals as stated above, don't use the L terminal, and then the Gen terminal on the other side gets wired as I stated above, to the A terminal on the S/G.
imageedit_3_3992208433.jpg
(keep in mind that the VR in this image is facing backwards)
Hope this helps
Edit: I see Roland beat me to it
Follow his wire colors, I don't remember them. He has a LOT more experience with the VRs than I do anyways
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'70 107 with k301 engine swap
'71 106 with 38" deck
'70 147
R with factory replacement k321, 42" deck
'61 Original with 38" timed deck
'63 70 "pinkie"
1863 with 54" deck
'46 Farmall H, '50 Farmall Cub
105 x2 (parts)