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Amendment No. 8 to Learn Repurchase Contract, dated as of endment?), by and between Bank of America, N.A. (?Buyer?) and Caliber Home Loans, Inc. (?Provider?).
Borrowing Establishment
Buyer and Seller are parties to that certain Master Repurchase Agreement, dated as of ended, restated, supplemented or otherwise modified from time to time, the ?Present Master Repurchase Contract?; and as further amended by this Amendment, the ?Master Repurchase Agreement?).
Consumer and Supplier possess concurred, at the mercy of the latest fine print in the Amendment, your Present Master Repurchase Arrangement be revised so you’re able to reflect certain decided posts into the regards to current Grasp Repurchase Arrangement.
Appropriately, Buyer and Vendor hereby agree, when you look at the consideration of one’s mutual promises and you will mutual financial obligation established here, your Existing Master Repurchase Arrangement is hereby revised as follows:
SECTION 1. Approved Payees. Section 3.7 of the Existing Master Repurchase Agreement is hereby amended by deleting subsection (b) in its entirety and replacing it with the following:
Factory Lenders
(b) . So that a facility financial that give financing according regarding a great Correspondent Real estate loan getting designated a prescription Payee with respect to one Cost, Provider should yield to Customer a composed consult, including the title and you will target of your facility lender, showing a significance of including designation. In spite of this, Visitors reserves the legal right to will not designate such as for example warehouse lender given that a prescription Payee, otherwise, instead, to require a lot more fine print to make sure that Customer so you’re able to shell out a price to including facility lender.
4.14 Choice Rates. If prior to any Payment Date, Buyer determines in its sole discretion that, by reason of circumstances affecting the relevant market, adequate and reasonable means do not exist for ascertaining One-Month LIBOR, One-Month LIBOR is no longer in existence, or the administrator of One-Month LIBOR or a Governmental Authority having jurisdiction over Buyer has made a public statement identifying a specific date after which One-Month LIBOR shall no longer be made available or used for determining the interest rate of loans (such specific date, the ?Arranged Unavailability Day?), Buyer shall give prompt notice thereof to Seller. In addition, upon such time as Buyer chooses in good faith an alternative benchmark rate (including any mathematical or other adjustments to the benchmark rate (if any) incorporated therein and any proposed Successor Speed Conforming Changes, as determined by Buyer and consistent with the benchmark rate of similarly situated counterparties with similar assets in similar facilities) (such rate, a ?Successor Rate?) to succeed One-Month LIBOR, Buyer shall give prompt notice thereof to Seller, and the Applicable Pricing Rate shall be such Successor Rate from the date specified in such notice until such notice has been withdrawn by Buyer.
(g) . The only credit facilities, including repurchase agreements for mortgage loans and mortgage-backed securities, Vermont loans of Seller that are presently in effect and are secured by mortgage loans or provide for the purchase, repurchase or early funding of mortgage loan sales, are either (i) with Persons disclosed to Buyer at the time of application, or thereafter disclosed on the monthly compliance certificate, and, if required by Buyer, such Persons have executed and delivered an Intercreditor Agreement (or will execute and deliver an Intercreditor Agreement within sixty (60) days following the Effective Date in accordance with Section 7.step 3) or (ii) warehouse lenders that provide financing in respect of a Correspondent Mortgage Loan that are Approved Payees.