AMENDMENT NO. 9
TO MASTER REPURCHASE AGREEMENT
Amendment No. 9 to Master Repurchase Agreement, dated as of April 15, 2020 (this Amendment), between UBS AG, by and through its branch office at 1285 Avenue of the Americas, New York, New York (the Buyer) and United Shore Financial Services, LLC (the Seller).
The Buyer and the Seller are parties to (a) that certain Master Repurchase Agreement, dated as of November 5, 2014 (as amended by Amendment No. 1, dated as of November 4, 2015, Amendment No. 2, dated as of August 16, 2016, Amendment No. 3, dated as of November 2, 2016, Amendment No. 4, dated as of January 12, 2018, Amendment No. 5, dated as of May 30, 2018, Amendment No. 6, dated as of January 14, 2019, Amendment No. 7, dated as of February 21, 2019 and Amendment No. 8, dated as of January 13, 2020, the Existing Repurchase Agreement; and as further amended by this Amendment, the Repurchase Agreement) and (b) that certain Pricing Letter, dated as of November 5, 2014 (as amended, restated, supplemented or otherwise modified from time to time, the Pricing Letter). Capitalized terms used but not otherwise defined herein shall have the meanings given to them in the Existing Repurchase Agreement and Pricing Letter, as applicable.
The Buyer 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 Buyer 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. Temporary Amendment. For purposes of this Amendment, Section 1 shall be effective solely during the period commencing on April 1, 2020 through and including April 29, 2020 (the Temporary Amendment Period):
1.1 Covenants. Section 11 of the Existing Repurchase Agreement is hereby amended by deleting subsection (d)(ii) in its entirety and replacing it with the following, which amendment shall be effective solely during the Temporary Amendment Period:
(ii) Within one (1) Business Day, notice of the reduction of any available amounts or previously permitted draw amounts under any warehouse, repurchase, loan or other mortgage financing facilities of Seller Party;