All Indebtedness in excess of $[***] which is currently in essence and you may/or the was noted on

(n) Scheduled Indebtedness. Plan 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 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 respect to for every Agencies Approval and this new the total amount in the past approved, Merchant is within good updates, without experiences that have took place or one to Seller fairly believes you’ll lead to, in addition to, without restrict, a change in insurance which would possibly make Provider unable in order to comply with the new qualification criteria having maintaining all of the eg appropriate otherwise require notice toward relevant Department.

Company Approvals

(c)(i)(C) one low-frivolous and you may reputable litigation otherwise continuing that’s pending otherwise threatened on paper (a) against Merchant where amount involved is higher than the brand new Litigation Tolerance and that is perhaps not included in insurance policies, where injunctive otherwise similar recovery are wanted, otherwise which, manage reasonably be expected getting a content Negative Feeling, (b) regarding the any of the Repurchase Property, and that, if negatively determined, create fairly be anticipated to have a content Unfavorable Feeling and you may (c) that inquiries or challenges compliance of every Mortgage for the Capability to Pay back Code or QM Code;

(c)(i)(D) once relatively you can, notice of any of following events: (A) a material lack of the insurance coverage away from Provider, that have a copy out-of proof same attached; (B) one matter improvement in accounting policies or monetary reporting strategies out of Seller; (C) on time on acknowledgment out of notice otherwise experience in any Lien otherwise safeguards appeal (aside from safeguards hobbies composed hereby or not as much as some other Program File or due to the fact or even considered herein) for the, otherwise allege asserted up against, some of the Repurchase Property; (D) the fresh involuntary termination otherwise involuntary nonrenewal of any warehouse place from Vendor which have an optimum dominating matter (or similar) readily available greater than new Facility Termination Threshold; (E) the newest reduced total of any the time degrees of people warehousing establishment away from Seller; (F) people Change in Manage; and you will (G) all other skills, situation or updates who has got resulted, or have a likelihood of ensuing, in a material Bad Perception; otherwise

(c)(i)(E) contained in this a few (2) Business days, (1) stepping into any payment with a governmental Authority, otherwise (2) new issuance from a permission order by the people Governmental Authority, where regarding clauses (1) or (2), new penalties and fees, punishment, payment numbers or other number due because of the Vendor Group thereunder is higher than the fresh new Payment Threshold from the several (12) day months before the brand new Cancellation Big date; and you can

Observe of More Indebtedness

(x) . Provider should bring notice to help you Client of Supplier getting into (i) any warehouse studio, home loan upkeep business or upkeep get better studio and you will (ii) other Indebtedness more than $[***], for the for every situation https://paydayloanalabama.com/underwood-petersville/, pursuant on the monthly Compliance Certificate put under Point eleven(d)(iv). To the prevention out of question, (x) Vendor will promote eg find to help you Visitors throughout the Conformity Certification that is required are introduced to your or before history schedule day of the modern few days in which Seller runs into one of the things that established within the clauses (i) and you can (ii) a lot more than and you may (y) abreast of acknowledgment from the Consumer of such observe, Plan step three hereto are deemed to get instantly revised to help you are instance additional Indebtedness.