The Amendments. 1. Section 1.01 of the Indenture is hereby amended, by including the following between the definition of "Specified Assets" and the definition of "Stockholders' Equity":
The Amendments. (a) Section 1.01 of the Pooling and Servicing Agreement is hereby amended as follows:
(i) The following definitions are hereby added to Section 1.01 of the Pooling and Servicing Agreement:
The Amendments. (a) Section 6(xl) of the Agreement is hereby amended by deleting it in its entirety and replacing it with the following (with the added text underlined for ease of review):
(xl) No Mortgage Loan is subject to the Home Ownership and Equity Protection Act of 1994 (“HOEPA”) or any comparable law and no Mortgage Loan is classified and/or defined as “high cost”, “covered” (excluding home loans defined as “covered home loans” in the New Jersey Home Ownership Security Act of 2002 that were originated between November 26, 2003 and July 7, 2004) “high risk home” or “predatory” loan under any other federal, state or local law (or a similarly classified loan using different terminology under a law imposing heightened regulatory scrutiny or additional legal liability for residential mortgage loans having high interest rates, points and/or fees). No Group I Mortgage Loan has an “annual percentage rate” or “total points and fees” payable by the Mortgagor (as each such term is defined under HOEPA) that equal or exceed the applicable thresholds defined under HOEPA (Section 32 of Regulation Z, 12 C.F.R. Section 226.32(a)(1)(i) and (ii));
(b) Section 6 of the Agreement is hereby amended by: (i) deleting the word “and” at the end of subpart (lxxii) thereof and (ii) inserting the following new subpart at the end of subpart (lxxiii) thereof: ; and (lxxiv) With respect to any Group I Mortgage Loan for which the date of the related mortgage note is more than 1 year before the Closing Date,
(i) The Seller represents that it currently operates or actively participates in an on-going and active program or business (A) to originate mortgages, and/or (B) to make periodic purchases of mortgage loans from originators or other sellers, and/or (C) to issue and/or purchase securities or bonds supported by the mortgages, with a portion of the proceeds generated by such program or business being used to purchase or originate mortgages made to borrowers who are:
(a) low-income families (families with incomes of 80% or less of area median income) living in low-income areas (a census tract or block numbering area in which the median income does not exceed 80 percent of the area median income) and/or
(b) very low-income families (families with incomes of 60% or less of area median income), and
(ii) The Seller agrees that Xxxxxxx Mac for a period of two (2) years following the date of this Agreement may contact the Seller to confirm that it continues to operate or actively participate in the mor...
The Amendments. (a) Section 6 of the Agreement is hereby amended by: (i) deleting the word “and” at the end of subpart (lxxii) thereof and (ii) inserting the following new subpart at the end of subpart (lxxiii) thereof: ; and (lxxiv) With respect to any Group I Mortgage Loan for which the date of the related mortgage note is more than 1 year before the Closing Date,
(i) The Sponsor represents that it currently operates or actively participates in an on-going and active program or business (A) to originate mortgages, and/or (B) to make periodic purchases of mortgage loans from originators or other sellers, and/or (C) to issue and/or purchase securities or bonds supported by the mortgages, with a portion of the proceeds generated by such program or business being used to purchase or originate mortgages made to borrowers who are:
(a) low-income families (families with incomes of 80% or less of area median income) living in low-income areas (a census tract or block numbering area in which the median income does not exceed 80 percent of the area median income) and/or
(b) very low-income families (families with incomes of 60% or less of area median income), and
(ii) The Sponsor agrees that Xxxxxxx Mac for a period of two (2) years following the date of this Agreement may contact the Sponsor to confirm that it continues to operate or actively participate in the mortgage program or business and to obtain other nonproprietary information about the Sponsor’s activities that may assist Xxxxxxx Mac in completing its regulatory reporting requirements. The Sponsor will make reasonable efforts to provide such information to Xxxxxxx Mac.
The Amendments. The following amendments shall replace the original provisions of the Agreement as follows:
The Amendments. (a) Section 3.09(b) of the Pooling and Servicing Agreement is hereby amended as follows: the word “and” at the end of clause (vii) is deleted, clause (viii) is renumbered as clause (ix) and the following is added as clause (viii):
The Amendments. 2.1 Section 1.01 is hereby amended by adding the following definition:
The Amendments. 2.1 Section 1.01 is hereby amended by deleting the definition of “Custodial Agreement” and replacing it with the following:
The Amendments. The amended Agreement is substantially the same as the Agreement previously accepted by the Commission. The Parties have revised the cover page and certain terms to extend the term of service for five additional years. Revised Section 12.3 of the Agreement removes certain provisions relating to National Grid’s rights to reimbursement from Selkirk for tax contests.
The Amendments. The parties agree that the APA will be amended as follows:
