Delivery of Income. Seller shall and, pursuant to Irrevocable Redirection Notices shall cause the Underlying Obligors under the Purchased Assets and all other applicable Persons to, remit all Income in respect of the Purchased Assets into the Waterfall Account in accordance with Section 5.01 hereof on the day the related payments are due. Seller (a) shall, and shall cause each Servicer to, comply with and enforce each Irrevocable Redirection Notice, (b) shall not amend, modify, waive, terminate or revoke any Irrevocable Redirection Notice without Buyer’s consent, and (c) shall take all reasonable steps to enforce each Irrevocable Redirection Notice. In connection with each principal payment or prepayment under a Purchased Asset, Seller shall provide or cause to be provided to Buyer and Servicer sufficient detail to enable Buyer and Servicer to identify the Purchased Asset to which such payment applies. If Seller receives any rights, whether in addition to, in substitution of, as a conversion of, or in exchange for any Purchased Assets, or otherwise in respect thereof, Seller shall accept the same as Buyer’s agent, hold the same in trust for Buyer and, within two (2) Business Days, deliver the same to Buyer or its designee in the exact form received, together with duly executed instruments of transfer, stock powers or assignment in blank and such other documentation as Buyer shall reasonably request. If any Income is received by Seller, Pledgor, Originator, Guarantor or any Affiliate of Seller, Pledgor, Originator or Guarantor, Seller shall directly deposit such Income into the Waterfall Account within two (2) Business Days after receipt, and, until so paid or delivered, hold such Income in trust for Buyer, segregated from other funds of Seller.
Delivery of Income. Seller shall, pursuant to Irrevocable Redirection Notices, direct the Underlying Obligors and all other applicable Persons (including any bank or financial institution holding any Income under the terms of the Mortgage Loan Documents) to deposit all Income payable to Seller as lender or holder under the terms of the Mortgage Loan Documents for the Purchased Assets into an account held by the Servicer or the Waterfall Account on the day the related payments are due, payable or required or permitted to be disbursed under the terms of the related Mortgage Loan Documents. Within five (5) Business Days of the related Purchase Date, Seller shall use its commercially reasonable efforts to deliver to Buyer an Irrevocable Redirection Notice with respect to each Purchased Asset, fully executed by each Underlying Obligor or other applicable Person. In no event shall Seller direct any Underlying Obligor with respect to a Purchased Asset to direct funds to any account other than the Waterfall Account or an account held by Servicer (so long as Servicer is Wxxxx). To the extent Seller or any Affiliate of Seller receives any Income directly, Seller or such Affiliate shall hold such Income in trust for Buyer, segregated from other funds of Seller and its Affiliates, until delivered to the Waterfall Account or an account of the Servicer (so long as the Servicer is Wxxxx) in accordance with the terms hereof. Seller shall deposit, or cause to be deposited, such amounts into the Servicer Account within two (2) Business Days of receipt thereof. Seller shall cause Servicer to remit all Income (other than amounts permitted to be withheld by the Servicer in accordance with the terms of the Servicing Agreement) in the Servicer Account to the Waterfall Account within two (2) Business Days of the receipt thereof (provided, however, if the Servicer is Wxxxx or an Affiliate thereof, then the Servicer shall only be required to remit to the Waterfall Account once each month, on the date set forth in the Servicing Agreement and the failure of the Servicer to make such remittance shall not be an Event of Default hereunder). Seller shall (a) comply with and enforce each Irrevocable Redirection Notice, (b) not amend, modify, waive, terminate or revoke any Irrevocable Redirection Notice without Buyer’s prior written consent, (c) take all reasonable steps to enforce each Irrevocable Redirection Notice and (d) shall obtain such additional executed Irrevocable Redirection Notices as may be requi...
Delivery of Income. To the extent Guarantor or any Affiliate of Guarantor receives any Income directly, Guarantor or such Affiliate of Guarantor shall deposit such amounts into the Waterfall Account within two (2) Business Days of receipt thereof. If any Income is received by Guarantor or any Affiliate of Guarantor, Guarantor shall hold such Income in trust for Buyer, segregated from other funds of Guarantor, until delivered to the Waterfall Account in accordance with the terms hereof and of the Repurchase Documents. Neither Guarantor nor any Affiliate of Guarantor shall deposit or cause to be deposited to the Waterfall Account cash or cash proceeds other than Income or other payments required to be deposited therein under the Repurchase Documents.
Delivery of Income. To the extent Guarantor or any Affiliate of Guarantor receives any Income directly, Guarantor or such Affiliate of Guarantor shall deposit such amounts into the Cash Management Account within one (1) Business Day of receipt thereof. If any Income is received by Guarantor or any Affiliate of Guarantor, Guarantor shall hold such Income in trust for Buyer, segregated from other funds of Guarantor, until delivered to the Cash Management Account in accordance with the terms hereof and of the Transaction Documents. Neither Guarantor nor any Affiliate of Guarantor shall deposit or cause to be deposited to the Cash Management Account cash or cash proceeds other than Income or other payments required to be deposited therein under the Transaction Documents.
Delivery of Income. The Seller, the Guarantors and the other Repurchase Parties shall deposit and cause all Servicers and other applicable Persons to deposit all Income received into the Collection Account within two (2) Business Days of receipt thereof. The Seller shall instruct all PSA Servicers and other applicable Persons under the Pooling and Servicing Agreements to deposit all Income into the Collection Account within two (2) Business Days of the date the PSA Servicer is obligated to disburse the same under the Pooling and Servicing Agreements and the Seller shall take reasonable steps necessary to enforce such instructions. The Seller will instruct all counterparties under Interest Rate Protection Agreements to deposit any payments due to the Seller from time to time into the Collection Account within two (2) Business Days of the date such Person is obligated to disburse same and the Seller shall take reasonable steps to enforce such instructions. The Seller shall deliver all applicable Servicing Agreements and Pooling and Servicing Agreements to the Purchaser and the Seller shall comply with and enforce each Servicer Redirection Notice.
Delivery of Income. The Seller will deposit and cause all Servicers to deposit all Income received in respect of the Purchased Items into the Collection Account within two (2) Business Days of receipt thereof. The Seller shall instruct all PSA Servicers under the Pooling and Servicing Agreements to deposit into the Collection Account within two (2) Business Days of the date the PSA Servicer is obligated to disburse the same under the Pooling and Servicing Agreements all Income in respect of the Purchased Items and the Seller shall take reasonable steps necessary to enforce such instructions.
Delivery of Income. Seller shall deposit, or cause to be deposited, all Income in respect of the Purchased Assets into the Securities Account in accordance with Section 5.01 hereof on the day the related payments are due to be made to the holder thereof pursuant to the related Asset Documents. In connection with each principal payment or prepayment under a Purchased Asset, Seller shall, upon Buyer’s request, provide, or cause to be provided, to Buyer sufficient detail to enable Buyer to identify the Purchased Asset to which such payment applies. If Seller receives any certificates evidencing ownership or instruments with respect to any Purchased Assets, whether in addition to, in substitution of, as a conversion of, or in exchange for, any such Purchased Assets or otherwise in respect thereof, Seller shall accept the same as Buyer’s agent, hold the same in trust for Buyer and promptly deliver the same to Buyer or its designee in the exact form received (or if required under the Custodial Agreement to be delivered to Custodian, to Custodian), together with duly executed instruments of transfer, stock powers or assignment in blank and such other documentation as Buyer (or Custodian, if applicable) shall reasonably request. If any Income is received by Seller, Guarantor or any Affiliate of Seller or Guarantor with respect to any Purchased Asset, Seller shall pay or deliver such Income to Buyer or Custodian on behalf of Buyer or cause such Income to be credited to same in the Securities Account within two (2) Business Days after receipt and, until so paid or delivered, hold such Income in trust for Buyer.
Delivery of Income. Relevant Parties shall, and pursuant to the Asset Management Side Letters shall cause Asset Managers, and all other applicable Persons controlled by Borrowers deposit all Income in respect of the Contributed Properties immediately and directly into the Collection Account in compliance with the provisions of Section 3.05 hereof. If a Relevant Party receives any rights, whether in addition to, in substitution of, as a conversion of, or in exchange for any Contributed Properties, or otherwise in respect thereof, such Relevant Party shall accept the same as Lender’s agent, hold the same in trust for Lender and immediately deliver the same to Paying Agent for the account of Lender in the exact form received, together with duly executed instruments of transfer, stock powers or assignments in blank and such other documentation as Lender shall reasonably request. If any Income is received by any Relevant Party or Affiliate thereof, Borrowers shall cause such Relevant Party to pay or deliver or cause to be delivered such Income as provided in Section 3.05.
Delivery of Income. The Seller shall deposit all Income received in respect of the Purchased Items into the Collection Account within three (3) Business Days of receipt thereof. The Seller shall instruct all Servicers under the Servicing Agreement and PSA Servicers under the Pooling and Servicing Agreements to deposit into the Collection Account within three (3) Business Days of the date the Servicers and PSA Servicers, respectively, are obligated to disburse the same under the Servicing Agreements and Pooling and Servicing Agreements all Income in respect of the Purchased Items and the Seller shall take reasonable steps to enforce such instructions. The Seller will instruct and cause the counterparties under Interest Rate Protection Agreements to deposit any payments due to the Seller from time to time under the Interest Rate Protection Agreements into the Collection Account within three (3) Business Days of the date such Person is obligated to disburse same and the Seller shall take reasonable steps to enforce such instructions. The Seller shall comply with and enforce each Servicer Redirection Notice and shall not amend or revoke any such Servicer Redirection Notice without the Purchaser’s consent. The Seller shall promptly provide the Purchaser with additional Servicer Redirection Notices to the extent requested by the Purchaser or to the extent of any changes in the servicing of a Purchased Asset since the Purchase Date. In connection with each principal payment or prepayment under a Purchased Asset, the Seller shall remit or cause to be remitted to the Purchaser sufficient detail to enable the Purchaser to appropriately identify the Purchased Asset to which any full or partial principal payment or prepayment applies.
Delivery of Income. The Seller will deposit and cause all Persons acting on its behalf and all servicers, trustees or other Persons with an obligation to make payments with respect to the Mortgage Loans to deposit all Income received in respect of the Mortgage Loans into the Collection Account within one (1) Business Day of receipt thereof.
