Payment Date: With respect to (i) Unused Facility Fees, by the thirtieth (30th) day following the end of each quarter, (ii) Over/Under Account interest, the fifth (5th) Business Day of each month, and (iii) Price Differential, the fifth (5th) Business Day of each month; provided, however, in each case, Buyer may change the Payment Date from time to time upon thirty (30) days prior written notice to Seller.
9.2 deleting the definitions of HomePath Mortgage Loan, HomePath Renovation Mortgage Loan and LIBOR Floor in their entirety and all references thereto; and
9.3 adding the following definitions in their proper alphabetical order:
Beneficial Ownership Certification: A certification regarding beneficial ownership required by the Beneficial Ownership Regulation.
Beneficial Ownership Regulation: 31 C.F.R. § 1010.230.
HomeReady Mortgage Loan: Unless otherwise defined in the Transactions Terms Letter, a Mortgage Loan that fully conforms to Fannie Maes HomeReady mortgage loan program (as such program is amended, supplemented or otherwise modified, from time to time), and is referred to as a HomeReady Mortgage by Fannie Mae; provided, that such HomeReady mortgage loan is not a HomeStyle Renovation Mortgage pursuant to the terms of such HomeStyle mortgage loan program.
LSF Parties: Lone Star Fund VI (U.S.), L.P., LSF VI International 2, L.P., Lone Star Fund V (U.S.), L.P., LSF V International Finance, L.P., and/or their Affiliates.
Scheduled Unavailability Date: As defined in Section 4.14 hereof.
Successor Rate: A rate determined by Buyer in accordance with Section 4.14 hereof, which shall not be less than 0%.
Successor Rate Conforming Changes: With respect to any proposed Successor Rate, any spread adjustments or other conforming changes to the timing and frequency of determining rates and making payments of interest and other administrative matters as may be appropriate, in the discretion of Buyer, and determined in good faith, to reflect the adoption of such Successor Rate and to permit the administration thereof by Buyer in a manner substantially consistent with market practice.
SECTION 10. Representations and Warranties. Exhibit L to the Existing Master Repurchase Agreement is hereby amended by deleting paragraphs (o), (s), (gg), (ii) and (ss) in their entirety and replacing them with the following, respectively:
(o) Location and Type of Mortgaged Property. The Mortgaged Property consists of a single parcel or, solely with respect to an Agency Eligible Mortgage Loan, contiguous parcels, of real property with a detached single family residence erected thereon, or a two- to four-family dwelling, or such other dwelling(s) conforming with the applicable Fannie Mae and Freddie Mac requirements regarding such dwellings or conforming to underwriting guidelines acceptable to Buyer in its sole discretion; provided that no residence or dwelling is a condominium unit or Cooperative Unit (unless the related Mortgage Loan (i) was originated in compliance with the Agency Guides or (ii) is a Jumbo Non-Warrantable Condo Mortgage Loan),