Point 5
See. Section 9.3 of the Existing Master Repurchase Agreement is hereby amended by deleting subsections (g), (m) and (n) in their entirety and replacing them with the following:
(g) any improvement in any situation value to your underwriting recommendations pertaining so you can Qualified Mortgage loans hereunder, or correspondent advice (and additionally, versus limit this new correspondent approval procedure) from Merchant that are offered since the brand new Active Date;
(m) in spite of the original phrase from the Section as well as in any enjoy zero afterwards than simply 30 (30) days? earlier in the day authored observe so you can Client, people (i) change to the region of the leader office/head office regarding you to given in the Section 8.1(t), (ii) change in the name, term otherwise business design (and/or similar) otherwise improvement in the spot where Provider retains their facts with regard into Purchased Assets otherwise any Bought Items, or (iii) reincorporation otherwise reorganization from Seller beneath the statutes of some other legislation;
(n) people (i) question non-monetary sanctions levied facing Seller; (ii) charges or charge levied facing Vendor over $[***] physically sustained right down to Vendor?s methods or omission to behave; (iii) one improvement in Acceptance position out of Seller or (iv) the beginning of any question non-regime Department Review, analysis or the business of every action up against Vendor, when you look at the for each case of clauses (i), (ii) and you can (iv), from the any Company, HUD, the brand new FHA, the brand new Virtual assistant or the RD or people supervisory Illinois bad credit personal loans otherwise regulating Political Power managing or managing the latest origination otherwise upkeep out of mortgage loans from the, or the issuer otherwise provider reputation out of, Seller;
9.18 Useful Control Qualification. Seller shall at all times either (i) ensure that the Seller has delivered to Buyer a Beneficial Ownership Certification, if applicable, and that the information contained therein is true and correct in all respects, or (ii) deliver to Buyer an updated Beneficial Ownership Certification within five (5) Business Days following the date on which the information contained in any previously delivered Beneficial Ownership Certification ceases to be true and correct in all respects.
10.1 Financial obligation. Seller shall not incur any additional material Debt in excess of $[***] without the prior written consent of Buyer, other than (i) the Existing Debt, (ii) Debt incurred in connection with a repurchase agreement, warehouse facility or similar credit facility or mortgage servicing or servicing advance facility, (iii) Debt incurred with Buyer or its Affiliates, and (iv) usual and customary accounts payable for a mortgage company.
Point 4
10.3 Obligations and Subordinated Obligations. Seller shall not, either directly or indirectly, without the prior written consent of Buyer, pay any Debt or Subordinated Debt if such payment shall cause a Potential Default or Event of Default. Further, if an Event of Default shall have occurred and for as long as such is occurring, Seller shall not, either directly or indirectly, without the prior written consent of Buyer, make any payment of any kind thereafter on such Debt or Subordinated Debt until all obligations of Seller hereunder have been paid and performed in full.
SECTION 7. Transactions having Affiliates. Section 10.7 of the Existing Master Repurchase Agreement is hereby amended by deleting such section in its entirety and replacing it with the following:
10.7 Deals that have Affiliates. Other than with respect to a Permitted Affiliate Transaction, Seller shall not, directly or indirectly, enter into any transaction with its Affiliates, without the prior written consent of Buyer, including, without limitation, (a) transferring, selling, pledging, assigning or otherwise disposing of any of its assets to or on behalf of an Affiliate, (b) purchasing or acquiring assets from an Affiliate, or (c) paying management fees to or on behalf of an Affiliate; provided, however, that Seller may, without the