Part 5
Observe. 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 improvement in one procedure esteem to the underwriting guidance relating in order to Qualified Mortgage loans hereunder, or correspondent recommendations (along with, instead limit this new correspondent acceptance procedure) out-of Provider that are offered as of the Energetic Time;
(m) in spite of the first phrase with the Section plus one experiences no after than simply 30 (30) days? prior composed find to Client, people (i) change to the spot of their chief executive workplace/master office out of one to given in Point 8.1(t), (ii) improvement in the name, identity otherwise corporate structure (and/or equivalent) otherwise change in the region where Provider keeps the ideas having value for the Bought Assets or one Purchased Points, otherwise (iii) reincorporation otherwise reorganization of Seller underneath the statutes of some other legislation;
(n) any (i) topic non-economic sanctions levied facing Seller; (ii) punishment otherwise charges levied up against Merchant more than $[***] myself incurred as a result of Merchant?s measures or omission to behave; (iii) any improvement in Recognition condition from Vendor otherwise (iv) the beginning of any matter non-routine Company Audit, investigation and/or institution of every step up against Seller, during the for each question of clauses (i), (ii) and you may (iv), by one Agencies, HUD, the new FHA, brand new Virtual assistant or perhaps the RD or one supervisory otherwise regulating Governmental Power overseeing or managing the brand new origination otherwise maintenance off mortgages because of the, or the issuer otherwise merchant standing off, Seller;
9.18 Useful Possession 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 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.
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10.3 Financial obligation and you may 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. Purchases which have Affiliates. Section 10.7 of the Existing Master Repurchase Agreement is hereby amended by deleting such section in its entirety and replacing http://cashadvanceamerica.net/personal-loans-ca it with the following:
10.7 Deals 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