Common use of INCOME PAYMENTS AND PRINCIPAL PAYMENTS Clause in Contracts

INCOME PAYMENTS AND PRINCIPAL PAYMENTS. (a) The Depository Account shall be established at the Depository pursuant to the Depository Agreement concurrently with the execution and delivery of this Agreement by Seller and Buyer. Buyer shall have sole dominion and control over the Depository Account, which shall be subject to the Depository Agreement after the transfer thereof to the Depository pursuant to Article 4(b) below. All Income in respect of the Purchased Assets and any payments made to Seller in respect of associated Hedging Transactions, as well as any interest received from the reinvestment of such Income, shall be deposited directly by Servicer into the Depository Account in accordance with the Interim Servicing Agreement (or the related Servicer Notice) and shall be remitted by the Depository in accordance with the applicable provisions of Articles 4(c) through 4(e) of this Agreement.