Part 5
Notice. 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 one thing esteem to virtually any underwriting guidelines pertaining to help you Eligible Mortgage loans hereunder, or correspondent assistance (along with, in the place of restriction the latest correspondent acceptance techniques) off Seller available as of new Effective Go out;
(m) regardless of the first sentence of this Area along with one experience zero later than just 30 (30) days? previous created observe to Customer, people (i) change to the location of the chief executive place of work/master bar or nightclub regarding one to specified in Point 8.1(t), (ii) improvement in the name, label or business structure (or even the comparable) otherwise change in the region where Seller preserves their details having respect to the Ordered Possessions or people Ordered Facts, otherwise (iii) reincorporation or reorganization off Merchant within the laws of some other https://cashadvanceamerica.net/payday-loans-wy/ jurisdiction;
(n) one (i) topic low-monetary sanctions levied up against Provider; (ii) punishment otherwise charge levied up against Supplier over $[***] really obtain down seriously to Vendor?s tips otherwise omission to do something; (iii) people improvement in Acceptance condition of Vendor otherwise (iv) the commencement of any point low-regimen Company Audit, data or even the place of every step against Seller, for the for every matter of clauses (i), (ii) and you can (iv), of the people Agencies, HUD, the newest FHA, the latest Va and/or RD otherwise people supervisory otherwise regulating Governmental Authority supervising otherwise managing the fresh new origination otherwise servicing out-of mortgages by the, and/or issuer or vendor condition out of, Seller;
9.18 Useful Ownership Certification. 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 Personal 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 Personal debt and you can 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. Deals 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 Transactions 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
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