CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THE EXHIBIT BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED. [***] INDICATES THAT INFORMATION HAS BEEN REDACTED.
AMENDMENT NO. 3 TO
SECOND AMENDED AND RESTATED MASTER REPURCHASE AGREEMENT
Amendment No. 3 to Second Amended and Restated Master Repurchase Agreement, dated as of March 9, 2018, among CREDIT SUISSE FIRST BOSTON MORTGAGE CAPITAL LLC (Administrative Agent), CREDIT SUISSE AG, a company incorporated under the laws of Switzerland, acting through its Cayman Islands Branch (CS Cayman and a Buyer), ALPINE SECURITIZATION LTD (Alpine and a Buyer) and CALIBER HOME LOANS, INC. (the Seller).
The Administrative Agent, the Buyers and the Seller are parties to that certain Second Amended and Restated Master Repurchase Agreement, dated as of August 26, 2016 (as amended, restated, supplemented or otherwise modified from time to time, the Existing Repurchase Agreement; as further amended by this Amendment, the Repurchase Agreement) and the related Amended and Restated Pricing Side Letter, dated as of August 26, 2016 (as amended, restated, supplemented or otherwise modified from time to time, the Pricing Side Letter). Capitalized terms used but not otherwise defined herein shall have the meanings given to them in the Existing Repurchase Agreement.
The Administrative Agent, the Buyers and the Seller have agreed, subject to the terms and conditions of this Amendment, that the Existing Repurchase Agreement be amended to reflect certain agreed upon revisions to the terms of the Existing Repurchase Agreement.
Accordingly, the Administrative Agent, the Buyers and the Seller hereby agree, in consideration of the mutual promises and mutual obligations set forth herein, that the Existing Repurchase Agreement is hereby amended as follows:
SECTION 1. Conditions Precedent. Section 10b. of the Existing Repurchase Agreement is hereby amended by deleting subclause (11) thereof in its entirety and replacing it with the following:
(11) DE Compare Ratio. Sellers DE Compare Ratio is less than [***] (provided, that, with respect to the DE Compare Ratio calculated using the data for each calendar month ending between December 31, 2017 and July 31, 2018, such condition precedent shall not apply) and HUD has not suspended Sellers ability to originate FHA Loans in one or more jurisdictions.
SECTION 2. Conditions Precedent to Amendment. This Amendment shall become effective as of the date hereof (the Amendment Effective Date), subject to the receipt by Administrative Agent of the following, each of which shall be satisfactory to the Administrative Agent in form and substance:
(a) this Amendment, duly executed and delivered by the Administrative Agent, the Buyers and the Seller.