Common use of Income Clause in Contracts

Income. If any payment of Income (“Income Payment”) is made by the Issuer in respect of the Purchased Securities: (i) which are the subject matter of a Repurchase Transaction, at any time after the Purchase Date and on or before the Repurchase Date, such amount shall accrue to the benefit of the DEALER which (for the avoidance of doubt) shall be absolutely entitled to such amount and if such Income Payment is paid to the CUSTOMER, the CUSTOMER shall pay an amount equal to the amount so received to DEALER on the same Business Day as receipt thereof; and (ii) under a Reverse Repurchase Transaction, at any time after the Purchase Date and on or before the Repurchase Date, such amount shall accrue to benefit of the CUSTOMER, and where such Income Payment is paid to DEALER, the DEALER shall pay an amount equal to the amount so received to the CUSTOMER on the same Business Day as receipt thereof.

Income. If any payment of Income (“Income Payment”) is made by the Issuer in respect of the Purchased Securities: (i) which Which are the subject matter of a Repurchase Transaction, at any time after the Purchase Date and on or before the Repurchase Date, such amount shall accrue to the benefit of the DEALER which (for the avoidance of doubt) shall be absolutely entitled to such amount and if such Income Payment is paid to the CUSTOMER, the CUSTOMER shall pay an amount equal to the amount so received to DEALER on the same Business Day as receipt thereof; and (ii) under Under a Reverse Repurchase Transaction, at any time after the Purchase Date and on or before the Repurchase Date, such amount shall accrue to benefit of the CUSTOMER, and where such Income Payment is paid to DEALER, the DEALER shall pay an amount equal to the amount so received to the CUSTOMER on the same Business Day as receipt thereof.

Income. If any payment of Income (“Income Payment”) is made by the Issuer issuer in respect of the Purchased Securities: (i) which are the subject matter of a Repurchase Transaction, at any time after the Purchase Date and on or before the Repurchase Date, such amount shall accrue to the benefit of the DEALER XXX which (for the avoidance of doubt) shall be absolutely entitled to such amount and if such Income Payment is paid to the CUSTOMERCUSTOMER , the CUSTOMER shall pay an amount equal to the amount so received to DEALER XXX on the same Business Day as receipt thereof; and (ii) under a Reverse Repurchase Transaction, at any time after the Purchase Date and on or before the Repurchase Date, such amount shall accrue to benefit of the CUSTOMERCUSTOMER , and where such Income Payment is paid to DEALERXXX, the DEALER XXX shall pay an amount equal to the amount so received to the CUSTOMER on the same Business Day as receipt thereof.