Certain Understood Suggestions Might have been Excluded About Exhibit Whilst Is actually Not Thing And you may Would Lead to Aggressive Damage to The REGISTRANT When the In public Shared. [***] Implies that Recommendations Has been REDACTED.
Amendment No. 8 to Grasp Repurchase Arrangement, dated as of endment?), by and between Bank of America, N.A. (?Customer?) and Caliber Home Loans, Inc. (?Merchant?).
Borrowing from the bank 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 ?Existing Grasp Repurchase Contract?; and as further amended by this Amendment, the ?Master Repurchase Agreement?).
Customer and Merchant provides concurred, subject to the terms and conditions in the Amendment, the Established Grasp Repurchase Agreement getting amended so you can mirror certain decideded upon revisions into regards to the current Master Repurchase Contract.
Correctly, Customer and you may Provider hereby agree, in said of one’s common claims and you may common loans established here, the Established Learn Repurchase Agreement was hereby revised the following:
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:
Facility Loan providers
(b) . In order for a facility lender giving money in respect of a great Correspondent Home loan getting designated a prescription Payee in terms of any Cost, Seller shall yield to Customer a created demand, like the name and you will target of warehouse financial, proving an importance of such designation. Notwithstanding the foregoing, Customer reserves the right to decline to specify eg facility bank since the a prescription Payee, or, as an alternative, to need most small print so Buyer in order to shell out a purchase price so you can for example facility lender.
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 ?Booked Unavailability Date?), 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 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 have a glimpse at the link following the Effective Date in accordance with Section 7.step 3) or (ii) warehouse lenders that provide financing in respect of a Correspondent Mortgage Loan that are Approved Payees.