S. GAAP, or, if the relevant, to help you SEC filings, the right SEC bookkeeping statutes

S. GAAP, or, if the relevant, to help you SEC filings, the right SEC bookkeeping statutes

Section 6.22 Indebtedness. Borrower shall not incur any additional material Indebtedness (other than (i) Indebtedness incurred with Lender or its Affiliates; (ii) Indebtedness incurred in connection with new or existing secured lending facilities and (iii) usual and customary accounts payable for a mortgage company), without the prior written consent of Lender.

Borrower shall succeed Lender to restore information related to Borrower and you can the mortgage Advances hereunder that have 3rd party loan providers and you can Borrower should allow each alternative party bank to express for example recommendations which have Lender

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Section 6.24 Genuine and you can Proper Recommendations. All information, reports, exhibits, schedules, financial statements or certificates of Borrower, any Affiliate thereof or any of their officers furnished to Lender hereunder and during Lender’s diligence of Borrower are and will be true and complete in all material respects and do not omit to disclose any material facts necessary to make the statements herein or therein, in light of the circumstances in which they are made, not misleading. All required financial statements, information and reports delivered by Borrower to Lender pursuant to this Agreement shall be prepared in accordance with U.

Section 6.27 No Vow. Borrower shall not (a) pledge, grant a security interest or assign any existing or future rights to the Collateral, or pledge or grant to any other Person any security interest in any Assets; or (b) pledge, transfer or convey any security interest or suffer to exist, any Lien on any interest of any kind (whether in whole or in part) in any Portfolio Excess Spread, unless such parties enter into an intercreditor agreement with the recipient of such security interest or Lien, in form and substance acceptable to the Lender and, during the term of the CSFB Loan Agreement, CSFB.

Section 6.29 Plan Assets. Borrower shall not be an employee benefit plan as defined in Section 3 of Title I of ERISA, or a plan described in Section 4975(e)(1) of the Code and Borrower shall not use plan assets within the meaning of 29 CFR 2510.3 101, as amended by Section 3(42) of ERISA to engage in this Agreement or any Loan Advance hereunder. Loan Advances by or with Borrower shall not be subject to any state or local statute regulating investments of or fiduciary obligations with respect to governmental plans within the meaning of Section 3(32) of ERISA.

But as contemplated of the CSFB Financing Documents, Borrower shall perhaps not create, sustain, assume or sustain in order to survive people Claims, but (i) into the the amount mirrored from inside the Borrower’s monetary statements or cards thereto and (ii) to the extent the fresh new aggregate Claims from Borrower dont surpass $250,000

Section 6.31 No Modification of your Participation Plans. Borrower shall not consent with respect to any https://paydayloanalabama.com/alexandria/ Participation Agreements related to any Asset that constitutes Collateral, to (i) the modification, amendment or termination of such Participation Agreements, or (ii) the waiver of any provision of such Participation Agreements without the prior written consent of (a) Lender exercised in Lender’s sole discretion and, (b) during the term of the CSFB Loan Agreement, CSFB exercised in CSFB’s sole discretion.

(a) Fee Incapacity. Failure of Borrower to (i) make any payment of interest or principal or any other sum which has become due, on an Interest Payment Date or the Termination Date or otherwise, whether by acceleration or otherwise, under the terms of this Agreement, any other warehouse and security agreement or any other document, in each case evidencing or securing Indebtedness of Borrower to Lender or to any Affiliate of Lender, or (ii) cure any Borrowing Base Deficiency when due pursuant to Section 2.05 hereof.

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