Point 5
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) one change in any issue value to any underwriting guidelines relating to help you Eligible Mortgage loans hereunder, otherwise correspondent guidelines (and, as opposed to limitation the new correspondent approval process) out of Merchant that are offered by the brand new Effective Day;
(m) despite the first sentence associated with Part along with people skills no later than thirty (30) days? previous composed find in order to Visitors, any (i) change to the spot of its leader place of work/master office out-of one to given when you look at the Part 8.1(t), (ii) improvement in the name, label or business structure (and/or comparable) otherwise change in the spot where Vendor retains their info which have value for the Purchased Property otherwise any Ordered Issues, otherwise (iii) reincorporation or reorganization from Provider within the statutes of some other legislation;
(n) any (i) question non-economic sanctions levied against Supplier; (ii) charges or charge levied against Merchant more than $[***] yourself obtain right down to Provider?s tips otherwise omission to behave; (iii) any change in Recognition standing out-of Seller or (iv) the start of every issue non-regimen Service Audit, investigation and/or place of every action facing Provider, inside the for each and every matter-of clauses (i), (ii) and (iv), because of the one Agency, HUD, the FHA, the fresh Virtual assistant or perhaps the RD otherwise one supervisory otherwise regulating Governmental Expert overseeing or controlling brand new origination otherwise upkeep off mortgages by, and/or issuer otherwise supplier updates regarding, Seller;
9.18 Useful Control 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 Obligations. 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.
Section cuatro
10.3 Debt and Subordinated 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. Transactions having Affiliates. Section 10 ways to finance cosmetic surgery.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 Deals that 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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