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) any change in people topic respect to your underwriting guidelines relevant so you can Qualified Mortgage loans hereunder, otherwise correspondent recommendations (as well as, without restrict the newest correspondent acceptance processes) away from Seller that are available since the fresh Effective Big date;
(m) regardless of the original sentence of this Point plus any skills no later on than thirty (30) days? prior created find so you’re able to Consumer, people (i) switch to the spot of their leader place of work/head bar or nightclub away from one to specified inside Area 8.1(t), (ii) change in title, term or corporate design (or even the equivalent) otherwise change in the region where Provider keeps the facts having esteem towards Purchased Property or one Ordered Points, otherwise (iii) reincorporation or reorganization regarding Seller beneath the statutes of another jurisdiction;
(n) people (i) topic non-economic sanctions levied up against Merchant; (ii) penalties otherwise charges levied up against Provider over $[***] actually sustained down to Provider?s procedures otherwise omission to act; (iii) people improvement in Approval position from Vendor otherwise (iv) the start of any question low-regime Company Review, analysis or the organization of any step facing Vendor, during the each matter of clauses (i), (ii) and you will (iv), from the people Company, HUD, the newest FHA, the Va or perhaps the RD otherwise any supervisory otherwise regulatory Governmental Authority managing or controlling the origination or servicing regarding mortgage loans by, or perhaps the issuer or provider condition away from, Seller;
9.18 Of good use 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.
Part cuatro
10.3 Obligations and you may 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. 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 Deals which 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, online personal loans RI (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
