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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 change in one situation regard to the underwriting advice relating to help you Qualified Mortgage loans hereunder, or correspondent recommendations (together with, without restrict the brand new correspondent approval process) off Merchant that exist by the latest Active Go out;
(m) despite the original sentence associated with the Point and also in one feel zero afterwards than 30 (30) days? previous composed see so you’re able to Buyer, one (i) switch to the spot of the chief executive office/head office off one specified within the Part 8.1(t), (ii) improvement in title, identity otherwise corporate framework (or the comparable) otherwise improvement in the region in which Supplier holds the suggestions that have esteem into the Purchased Possessions or any Ordered Situations, or (iii) reincorporation otherwise reorganization of Supplier underneath the laws of another jurisdiction;
(n) one (i) point non-monetary sanctions levied facing Merchant; (ii) charges otherwise charges levied up against Seller more than $[***] individually incurred down to Provider?s methods or omission to act; (iii) people improvement in Recognition position out of Merchant or (iv) the commencement of every material non-routine Agencies Audit, analysis and/or organization of every step facing Provider, for the each case of clauses (i), (ii) and you will (iv), because of the any Agencies, HUD, the FHA, the latest Va or perhaps the RD otherwise one supervisory otherwise regulatory Governmental Authority overseeing or managing the newest origination or maintenance regarding mortgages of the, and/or issuer otherwise supplier position off, Seller;
9.18 Of good use Ownership 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 Loans. 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 Loans and you will Subordinated Loans. Seller shall not, either directly or indirectly, without the no fee personal loan 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 Affiliates. 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 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