Part 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) any change in people topic esteem to any underwriting guidance pertaining to help you Qualified Mortgage loans hereunder, or correspondent recommendations (including, versus limitation brand new correspondent acceptance procedure) regarding Seller that are offered as of this new Active Date;
(m) regardless of the initial sentence from the Area along with any feel no after than thirty (30) days? past written find to Consumer, one (i) change to the region of their leader work environment/head bar or nightclub off that given in the Section 8.1(t), (ii) improvement in the name, title otherwise corporate design (and/or equivalent) otherwise change in the spot where Merchant preserves their details having regard on Bought Possessions or any Ordered Facts, otherwise (iii) reincorporation otherwise reorganization of Provider within the guidelines of some other jurisdiction;
(n) people (i) matter low-monetary sanctions levied against Supplier; (ii) penalties otherwise charges levied facing Supplier in excess of $[***] in person obtain down to Vendor?s tips otherwise omission to do something; (iii) people change in Acceptance standing away from Supplier or (iv) the commencement of any matter low-techniques Department Audit, investigation or even the place of every action against Supplier, from inside the for every case of conditions (i), (ii) and you can (iv), by the any Agency, HUD, the fresh new FHA, the fresh Virtual assistant or perhaps the RD or any supervisory or regulating Political Authority supervising otherwise managing new origination otherwise servicing off mortgage loans of the, or perhaps the issuer or seller position out-of, Seller;
9.18 Useful Control 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.
Point cuatro
10.3 Personal debt and Subordinated Loans. 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 having 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 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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