(n) Arranged Indebtedness. Agenda step 3 hereto, as amended from time to time pursuant to the monthly Compliance Certificate (the ?Scheduled Indebtedness?) and no defaults or events of default exist thereunder, which default or event of default entitles any party to require acceleration or prepayment of any Indebtedness thereunder. Seller shall give Buyer prompt notification if any Scheduled Indebtedness that is a repurchase agreement, warehouse facility or similar credit facility (in each case providing Cope loans mortgage warehouse financing) or that is a servicing advance facility provides more favorable terms to the buyer with respect to any financial covenants covering the same or similar subject matter as the Financial Condition Covenants.
(w) . With regards to each Institution Recognition and also to the new the quantity in the past accepted, Provider is within a great position, and no feel that have happened otherwise that Merchant reasonably thinks you may end up in, and additionally, versus restriction, a modification of insurance policies which may often create Merchant unable in order to adhere to the new qualifications conditions getting keeping all such applicable otherwise wanted notification on related Company.
Agency Approvals
(c)(i)(C) one low-frivolous and you may reputable lawsuits otherwise continuing that’s pending or threatened on paper (a) facing Provider where the number with it exceeds the newest Litigation Tolerance and that is not covered by insurance policies, where injunctive otherwise comparable rescue is needed, otherwise hence, perform relatively be anticipated for a material Negative Effect, (b) regarding the any of the Repurchase Possessions, which, when the negatively calculated, perform relatively be anticipated to have a content Unfavorable Effect and you can (c) that questions otherwise pressures conformity of any Mortgage toward Capacity to Pay-off Rule otherwise QM Code;
(c)(i)(D) whenever fairly you can, find of every of following events: (A) a material reduction in the insurance coverage out of Seller, having a duplicate away from proof same attached; (B) any matter change in accounting formula otherwise financial reporting practices of Seller; (C) timely on bill off find or knowledge of any Lien or safeguards attract (except that defense passions created hereby or significantly less than other Program File or as the otherwise contemplated herein) to the, otherwise claim asserted facing, any of the Repurchase Property; (D) new involuntary cancellation otherwise unconscious nonrenewal of every facility institution of Seller having an optimum prominent number (or equivalent) readily available of more than the newest Facility Cancellation Endurance; (E) the brand new reduction of people the full time degrees of one warehousing facilities off Seller; (F) people Change in Manage; and you can (G) any other event, situation otherwise position having resulted, or provides a probability of ensuing, inside the a content Adverse Perception; or
(c)(i)(E) inside several (2) Business days, (1) entering into one settlement with a political Power, or (2) brand new issuance from a consent order because of the people Governmental Expert, where regarding conditions (1) or (2), the fines, punishment, payment quantity and other numbers due of the Supplier Team thereunder exceeds brand new Payment Threshold throughout the twelve (12) day months preceding this new Termination Time; and you can
Find away from Most Indebtedness
(x) . Provider will offer see to help you Buyer of Provider getting into (i) people warehouse facility, financial servicing business otherwise maintenance get better facility and (ii) every other Indebtedness more than $[***], from inside the each situation, pursuant on the month-to-month Conformity Certificate put lower than Point 11(d)(iv). For the reduction out of doubt, (x) Seller should bring including find to Customer regarding the Conformity Certificate that’s needed is becoming brought towards or until the last schedule day of the present day month in which Seller incurs people of the items established for the clauses (i) and you can (ii) above and you can (y) abreast of receipt by the Client of such see, Schedule step three hereto would be deemed to get immediately revised to are including more Indebtedness.