Point 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) one change in one matter value to the underwriting direction relating in order to Qualified Mortgage loans hereunder, otherwise correspondent guidelines (and, instead maximum the new correspondent recognition processes) out-of Supplier available by the brand new Effective Day;
(m) in spite of the initial sentence in the Point as well as in any feel zero after than just thirty (30) days? previous written see so you can Client, one (i) change to the region of its chief executive place of work/chief bar or nightclub regarding one to specified during the Area 8.1(t), (ii) change in title, term or corporate build (or perhaps the equivalent) otherwise improvement in the region in which Merchant keeps their info which have value with the Bought Property or one Bought Items, or (iii) reincorporation otherwise reorganization from Seller according to the guidelines of another legislation;
(n) one (i) situation non-economic sanctions levied against Provider; (ii) punishment or tribal installment loans guaranteed approval charges levied up against Vendor more than $[***] actually obtain down seriously to Seller?s tips or omission to behave; (iii) any improvement in Recognition status off Merchant or (iv) the start of every situation non-techniques Agencies Review, studies or the facilities of any action facing Supplier, within the per matter-of conditions (i), (ii) and you can (iv), of the people Department, HUD, brand new FHA, the Va and/or RD otherwise people supervisory or regulatory Governmental Expert overseeing otherwise controlling the fresh new origination otherwise maintenance from mortgages because of the, and/or issuer or vendor updates regarding, Seller;
9.18 Useful Ownership 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 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 cuatro
10.3 Financial obligation and you may Subordinated Personal debt. 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 that have Associates. 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 Associates. 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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