Point 18
SECTION 11. Officer?s Certificate. Exhibit E to the Existing Master Repurchase Agreement is hereby amended by deleting such exhibit in its entirety and replacing it with Annex
SECTION 12. Displays. The Existing Master Repurchase Agreement is hereby amended by adding a new Exhibit S at the end thereof, attached hereto as Annex B.
SECTION 13. Costs and Expenditures. Seller hereby agrees to pay to Buyer, on demand, any and all reasonable out-of-pocket fees, costs and expenses (including reasonable fees and expenses of counsel) incurred by Buyer in connection with the development, preparation and execution of this Amendment, irrespective of whether any transactions hereunder are executed.
SECTION 14. Criteria Precedent. This Amendment shall become effective as of the date hereof upon Buyer?s receipt of this Amendment, executed and delivered by a duly authorized officer of Buyer and Seller.
A hereto
SECTION 15. Restricted Effect. Except as expressly amended and modified by this Amendment, the Existing Master Repurchase Agreement shall continue to be, and shall remain, in full force and effect in accordance with its terms.
SECTION 16. Equivalents. This Amendment may be executed by each of the parties hereto on any number of separate counterparts, each of which shall be an original and all of which taken together shall constitute one and the same instrument. Delivery of an executed counterpart of a signature page of this Amendment in Portable Document Format (PDF) or by facsimile shall be effective as delivery of a manually executed original counterpart of this Amendment.
SECTION 17. Severability. Each provision and agreement herein shall be treated as separate and independent from any other provision or agreement herein and shall be enforceable notwithstanding the unenforceability of any such other provision or agreement.
Ruling Legislation. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAWS (OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW).
During the Witness WHEREOF, the new parties possess caused their names to-be closed hereto because of the its particular officers thereunto duly licensed as of the day and you will seasons basic above written.
earlier in the day created concur away from Customer, and you can provided that a possible Default or a conference out of Standard isnt current and does not occur thus thereof, practice a transaction(s) having any otherwise each of its Affiliates in the event that particularly deal (i) is in the typical span of Merchant?s mortgage banking team and you may (ii) is actually upon fair and you can practical conditions believe it or not advantageous so you’re able to Merchant got Merchant joined on the a similar sleeve size?s deal which have a person that’s not a joint venture partner.
Commission Day: With respect to (i) Unused Facility Fees, by the thirtieth (30th) day following the end of each quarter, (ii) Over/Under Account interest, the fifth (5th) Business Day of each month, and (iii) Price Differential, the fifth (5th) Business Day of each month; provided, however, in each case, Buyer may change the Payment Date from time to time upon thirty (30) days prior written notice to Seller.
(ss) Mortgaged Property Intact. The Mortgaged Property is in good repair and undamaged by waste, fire, earthquake or earth movement, windstorm, flood, tornado or other casualty so as to affect materially and adversely the value of the Mortgaged Property as security for the Mortgage Loan or the use for which the premises were intended and each Mortgaged Property is in good repair, https://cashadvancecompass.com/installment-loans-in/ except with respect to Agency Eligible Escrow Mortgage Loans or specific mortgage products agreed upon by Buyer in writing.
