(n) Arranged 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 each and every Service Recognition also to the fresh the total amount in earlier times accepted, Vendor is within a beneficial position, no event with occurred otherwise one Vendor relatively thinks you are going to end in, including, instead of limitation, a change in insurance coverage that will possibly generate Merchant unable so you’re able to comply with the fresh eligibility requirements having maintaining the such relevant otherwise want notification with the related Agencies.

Department Approvals

(c)(i)(C) any non-frivolous and you may legitimate litigation otherwise continuing that’s pending or threatened on paper (a) against Seller where in actuality the matter inside exceeds this new Legal actions Tolerance that is not protected by insurance policies, in which injunctive or equivalent rescue try tried, otherwise hence, create fairly be likely to possess a material Adverse Impact, (b) regarding the some of the Repurchase Assets, and that, if adversely computed, would reasonably be expected getting a content Adverse Effect and you may (c) you to definitely concerns or pressures conformity of any Mortgage loan into Capacity to Pay Rule otherwise QM Signal;

(c)(i)(D) whenever relatively you’ll be able to, see of every of your pursuing the situations: (A) a content reduced the insurance of Vendor, which have a copy out of evidence of same connected; (B) any point change in accounting procedures otherwise financial revealing methods out of Seller; (C) on time upon receipt from see or expertise in people Lien or safeguards notice (aside from cover hobbies composed hereby or not as much as other Program Document otherwise since the if you don’t considered herein) towards, otherwise claim asserted up against, some of cash advance payday loans Pittsburg CA the Repurchase Property; (D) the fresh new involuntary termination otherwise unconscious nonrenewal of any facility place away from Supplier which have a maximum principal matter (otherwise equivalent) readily available of greater than the Studio Termination Threshold; (E) the fresh decrease in people the full time amounts of people warehousing facilities away from Seller; (F) people Change in Handle; and (G) every other event, condition or condition that has resulted, otherwise features a likelihood of resulting, inside the a content Negative Impact; otherwise

(c)(i)(E) contained in this a couple (2) Business days, (1) getting into one payment which have a political Power, or (2) new issuance off a permission order by people Political Power, where in the example of conditions (1) or (2), the fresh new fines, charges, payment numbers or other number due by Vendor Group thereunder is higher than the fresh Payment Threshold in the several (12) times several months before the fresh new Cancellation Go out; and you may

Notice away from A lot more Indebtedness

(x) . Seller should offer find so you’re able to Customer off Merchant stepping into (i) any facility studio, mortgage maintenance business otherwise upkeep improve business and you may (ii) various other Indebtedness in excess of $[***], inside the each instance, pursuant for the monthly Conformity Certificate introduced lower than Area eleven(d)(iv). Toward protection regarding doubt, (x) Seller shall render instance see so you can Consumer regarding the Conformity Certificate that’s needed is as delivered toward or till the history schedule day of the present day month where Supplier incurs people of the things that established during the clauses (i) and (ii) over and you may (y) on receipt from the Customer of such find, Schedule 3 hereto is deemed is immediately revised in order to include like more Indebtedness.