Certain Known Suggestions Might have been Omitted Regarding Exhibit Because it Is actually Perhaps not Material And you can Would probably Bring about Competitive Harm to New REGISTRANT In the event that In public areas Shared. [***] Demonstrates Suggestions Could have 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. (?Provider?).
Credit Facilities
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 Grasp Repurchase Agreement?; and as further amended by this Amendment, the ?Master Repurchase Agreement?).
Visitors and you can Vendor features arranged, susceptible to the brand new small print of Modification, your Present Master Repurchase Arrangement become revised to help you echo specific agreed upon updates with the regards to the present Learn Repurchase Arrangement.
Appropriately, Client and you may Seller hereby consent, inside the attention of the mutual pledges and you will shared loans set forth here, that Present Grasp Repurchase Arrangement was 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:
Facility Lenders
(b) . So a warehouse lender that give financing in respect off good Correspondent Home mortgage to be designated an approved Payee in terms of any Cost, Merchant should submit to Buyer a written demand, for instance the name and you will address of your warehouse financial, indicating an incredible importance of such designation. Despite the foregoing, Customer supplies the right to refuse to specify such as warehouse financial because an approved Payee, or, as an alternative, to require additional fine print to make certain that Consumer so you can pay a purchase price to particularly factory bank.
4.14 Alternative Price. 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 ?Scheduled 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 Replacement 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) . Idaho loans 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 seven.3) or (ii) warehouse lenders that provide financing in respect of a Correspondent Mortgage Loan that are Approved Payees.