Certain Understood Information Might have been Excluded In the Exhibit As it Is both Not Topic And you will May likely Produce Aggressive Harm to The fresh REGISTRANT If the In public places Disclosed. [***] Demonstrates that Recommendations Has been REDACTED.
Amendment No. 8 to Master Repurchase Agreement, dated as of endment?), by and between Bank of America, N.A. (?Client?) and Caliber Home Loans, Inc. (?Vendor?).
Borrowing Place
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 ?Existing Master Repurchase Arrangement?; and as further amended by this Amendment, the ?Master Repurchase Agreement?).
Customer and you may Seller provides assented, at the mercy of the fine print on the Amendment, the Present Master Repurchase Contract become amended to echo particular decided changes toward terms of the current Master Repurchase Arrangement.
Consequently, Visitors and you can Merchant hereby consent, during the thought of mutual promises and you will common personal debt established herein, that Present Master Repurchase Arrangement try hereby revised the following:
SECTION 1. Acknowledged 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 Loan providers
(b) . So that a facility financial that provides financing in respect away from a good Correspondent Mortgage is designated a prescription Payee when it comes to one Cost, Seller will yield to Consumer an authored consult, like the title and you can target of one’s facility lender, indicating an incredible importance of such as for example designation. In spite of the foregoing, Buyer reserves the ability to refuse to employ such as factory bank since an approved Payee, otherwise, alternatively, to need additional conditions and terms making sure that Customer to shell out a purchase price so you can such as factory lender.
4.14 Solution Rate. 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 Time?), 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 Replacement Rates 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, 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 eight.3) or (ii) warehouse lenders that personal loans online Texas provide financing in respect of a Correspondent Mortgage Loan that are Approved Payees.