Point 5
Find. 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) people change in people situation regard to any underwriting direction relevant to help you Eligible Mortgage loans hereunder, or correspondent direction (in addition to, in place of restrict the correspondent approval procedure) from Seller that are available since the new Productive Big date;
(m) regardless of the first phrase regarding the Part and also in one knowledge no later on than 30 (30) days? earlier created see in order to Consumer, people (i) switch to the location of the leader place of work/chief place of business of one to given in Part 8.1(t), (ii) change in title, name or corporate framework (or perhaps the equivalent) or improvement in the region in which Provider retains the facts which have admiration towards the Purchased Possessions otherwise any Ordered Activities, otherwise (iii) reincorporation or reorganization out of Merchant under the laws of another legislation;
(n) people (i) matter non-financial sanctions levied against Vendor; (ii) charges otherwise charges levied facing Merchant over $[***] personally sustained as a result of Vendor?s methods or omission to behave; (iii) people change in Recognition condition out of Vendor or (iv) the beginning of any procedure non-routine Agencies Review, investigation or perhaps the facilities of every step against Supplier, within the each matter of conditions (i), (ii) and you can (iv), by people Agencies, HUD, the fresh new FHA, the Va or perhaps the RD or people supervisory otherwise regulatory Governmental Authority overseeing or controlling the fresh origination otherwise repair out-of mortgage loans by, or perhaps the issuer otherwise merchant reputation off, Seller;
9.18 Helpful Control Degree. 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 Debt. 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 Debt and you will Subordinated Financial obligation. 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. Purchases that have 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 Purchases which 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