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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 change in people point value to the underwriting recommendations relating in order to Eligible Mortgage loans hereunder, otherwise correspondent guidance (as well as, rather than maximum the brand new correspondent recognition procedure) of Seller that are offered by new Productive Go out;
(m) notwithstanding the first phrase on the Area and in people skills zero later than simply thirty (30) days? earlier in the day authored observe so you’re able to Client, people (i) switch to the region of their chief executive place of work/master bar or nightclub away from you to definitely given within the Section 8.1(t), (ii) change in the name, term or business design (and/or equivalent) otherwise improvement in the spot where Seller retains their details having esteem toward Purchased Possessions or any Purchased Circumstances, or (iii) reincorporation or reorganization of Vendor under the rules of some other legislation;
(n) people (i) point non-economic sanctions levied against Seller; (ii) charges or costs levied facing Seller in excess of $[***] privately incurred as a result of Supplier?s procedures or omission to behave; (iii) one improvement in Acceptance updates of Supplier or (iv) the start of any matter low-routine Agency Review, analysis and/or establishment of any action up against Vendor, from inside the for each question of conditions (i), (ii) and you can (iv), because of the any Service, HUD, this new FHA, new Va or New Hampshire payday loans perhaps the RD otherwise people supervisory otherwise regulating Governmental Expert supervising or regulating this new origination or repair out-of mortgages from the, or perhaps the issuer otherwise merchant condition away from, 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.
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10.3 Personal debt and you may Subordinated Loans. 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 with 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 with 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
