Certain Known Information Has been Excluded Regarding the Display As it Is actually Maybe not Procedure And you can Would Cause Competitive Harm to The brand new REGISTRANT In the event the In public areas Unveiled. [***] Implies that Advice Could have been REDACTED.
Amendment No. 8 to Master Repurchase Contract, dated as of endment?), by and between Bank of America, N.A. (?Buyer?) and Caliber Home Loans, Inc. (?Seller?).
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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 Grasp Repurchase Agreement?; and as further amended by this Amendment, the ?Master Repurchase Agreement?).
Buyer and you will Vendor has decided, at the mercy of brand new fine print of this Amendment, that Current Learn Repurchase Arrangement be amended in order to mirror certain arranged news towards the terms of the existing Learn Repurchase Arrangement.
Accordingly, Buyer and you can Merchant hereby agree, during the idea of your own common pledges and you will shared obligations set forth herein, that Present Learn Repurchase Arrangement are hereby amended as follows:
SECTION 1. Recognized 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 provide capital in respect away from an excellent Correspondent Home loan to get appointed a prescription Payee regarding one Purchase price, Merchant shall yield to Customer a written consult, for instance the label and you can address of your own facility bank, proving an importance of such as for example designation. In spite of the foregoing, Client reserves the ability to won’t designate such as for example factory financial as a prescription Payee, or, instead, to require extra terms and conditions to ensure that Client so you can spend a purchase price in order to like warehouse financial.
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 payday loans no checking account can use saving account Montana 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 Go out?), 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 Rate 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 provide financing in respect of a Correspondent Mortgage Loan that are Approved Payees.