SEVENTH AMENDMENT TO MASTER REPURCHASE AGREEMENT
Dated as of August 30, 2018
LOANDEPOT.COM, LLC, as Seller
JPMORGAN CHASE BANK, N.A., as Buyer
The Parties have agreed to amend (for the seventh time) the Master Repurchase Agreement dated June 3, 2016 between them (the Original MRA, as amended by the First Amendment to Master Repurchase Agreement dated October 19, 2016, the 12/16 Rewarehousing Letter Agreement (defined below), the Second Amendment to Master Repurchase Agreement dated February 28, 2017, the Third Amendment to Master Repurchase Agreement dated June 2, 2017, the Fourth Amendment to Master Repurchase Agreement dated August 31, 2017, the Fifth Amendment to Master Repurchase Agreement dated October 30, 2017 and the Sixth Amendment to Master Repurchase Agreement dated November 10, 2017, the Amended MRA and as amended hereby and as further supplemented, amended or restated from time to time, the MRA), to extend the latest Termination Date and to adjust certain financial covenants and related defined terms, and they hereby amend the Amended MRA as follows.
All capitalized terms used in the Amended MRA and used, but not defined differently, in this amendment have the same meanings here as there. The Sections of this Amendment are numbered to correspond to the numbering of the Sections of the Amended MRA amended hereby, and are consequently sometimes nonsequential.
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A. The following new definitions are added to Section 2(a), in alphabetical order:
Adjusted Leverage Ratio means the ratio of (x) Sellers Debt (and, if applicable, its Subsidiaries, on a consolidated basis), including off balance sheet financings but excluding Sellers Debt under the Credit Agreement dated August 3, 2017 (the Magnetar Credit Agreement) among Seller, as the Company, U.S. Bank National Association, as the Paying Agent, and the Lenders from time to time party thereto, providing for loans in the aggregate amount of Two Hundred Fifty Million Dollars ($250,000,000) due August 3, 2022, to (y) Sellers Adjusted Tangible Net Worth.
Fifth Amendment to MRA means the Fifth Amendment to Master Repurchase Agreement dated October 30, 2017 between the parties.
Magnetar Credit Agreement is defined in the definition of Adjusted Leverage Ratio.