EX-10.20.3





 Exhibit 10.20.3 

 

Certain confidential information contained in this document, marked by brackets, has been omitted because it is both
(i) not material and (ii) would be competitively harmful if publicly disclosed 

 AMENDMENT NO. 3 TO MASTER REPURCHASE
AGREEMENT 
 This Amendment No. 3 to Master Repurchase Agreement, dated as of November 21, 2018 (this
“Amendment”), by and among Nomura Corporate Funding Americas, LLC (“Buyer”) and Finance of America Commercial LLC (the “Seller”). 

RECITALS 
 Buyer and
Seller are parties to that certain Master Repurchase Agreement, dated as of August 18, 2017 (as amended by Amendment No. 1 to Master Repurchase Agreement, dated as of September 29, 2017, and Amendment No. 2 to Master Repurchase
Agreement, dated as of September 28, 2018, the “Existing Repurchase Agreement”; as amended by this Amendment, the “Repurchase Agreement”). Capitalized terms used but not otherwise defined herein shall have the
meanings given to them in the Existing Repurchase Agreement. 
 Buyer and 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, Buyer and 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. Amendments to Existing Repurchase Agreement. Effective as of
the Amendment No. 3 Effective Date (as defined below), the Existing Repurchase Agreement is hereby amended as follows: 
 1.1
Section 2 of the Existing Repurchase Agreement is hereby amended by adding the following new definitions in the appropriate alphabetical order: 

“Delaware LLC Act” shall mean Chapter 18 of the Delaware Limited Liability Company Act, 6 Del. C. §§
18-101 et seq., as amended. 
 “Division/Series Transaction” shall
mean, with respect to any Person that is a limited liability company organized under the laws of the State of Delaware, that any such Person (a) divides into two or more Persons (whether or not the original Person or Subsidiary thereof survives
such division) or (b) creates, or reorganizes into, one or more series, in each case, as contemplated under the laws of the State of Delaware, including without limitation Section 18-217 of the
Delaware LLC Act. 
 “Successor Rate” shall mean a rate determined by Buyer in accordance with
Section 3(h) hereof. 
 “Successor Rate Conforming Changes” shall mean, 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, to reflect the adoption of such Successor Rate and to permit the administration thereof by Buyer in a manner substantially consistent with market practice. 












 1.2 Section 3 of the Existing Repurchase Agreement is hereby
amended by adding the following new paragraph (h) immediately following paragraph (g) thereof: 
 (h)
Alternative Rate. If prior to any Remittance Date, Buyer determines in its sole discretion that, by reason of circumstances affecting the relevant market, adequate and reasonable means do not exist for ascertaining the LIBOR Rate, the LIBOR
Rate is no longer in existence, or the administrator of the LIBOR Rate or a Governmental Authority having jurisdiction over Buyer has made a public statement identifying a specific date after which the LIBOR Rate shall no longer be made available or
used for determining the interest rate of loans, Buyer may give prompt notice thereof to Seller, whereupon the Pricing Rate for such period, and for all subsequent periods until such notice has been withdrawn by Buyer, shall be an alternative
benchmark rate (including any mathematical or other adjustments to the benchmark rate (if any) incorporated therein) (any such rate, a “Successor Rate”), together with any proposed Successor Rate Conforming Changes, as determined by
Buyer in its sole discretion. 
 1.3 Section 13 of the Existing Repurchase Agreement is hereby amended by adding
the following new paragraph (bb) immediately following paragraph (aa) thereof: 
 (bb) No Division/Series
Transactions. Notwithstanding anything to the contrary contained in this Agreement or any other Facility Document, (i) if Seller is a limited liability company organized under the laws of the State of Delaware Seller shall not enter into
(or agree to enter into) any Division/Series Transaction, or permit any of its Subsidiaries to enter into (or agree to enter into), any Division/Series Transaction and (ii) none of the provisions in this Agreement nor any other Facility
Document, shall be deemed to permit Seller or any of its Subsidiaries to enter into (or agree to enter into) any Division/Series Transaction. 

1.4 The Existing Repurchase Agreement is hereby amended by (i) replacing any references to “[***]” therein with
“[***]” and (ii) replacing any references to “[***]” therein with “[***]”. 
 SECTION 2.
Conditions Precedent. This Amendment shall become effective on the date hereof (the “Amendment No. 3 Effective Date”), subject to the satisfaction of the following conditions precedent: 

(a) Buyer’s receipt of this Amendment, executed and delivered by the Seller and the Buyer, in form and substance
satisfactory to Buyer; and 

  
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 (b) Buyer’s receipt of the Amendment No. 6 to Pricing Side Letter,
executed and delivered by the Seller and the Buyer, in form and substance satisfactory to Buyer. 
 SECTION 3. Limited Effect.
Except as expressly amended and modified by this Amendment, the Existing Repurchase Agreement shall continue to be, and shall remain, in full force and effect in accordance with its terms and the execution of this Amendment. 

SECTION 4. Counterparts. This Amendment may be executed in any number of counterparts, all of which taken together shall
constitute one and the same instrument, and any of the parties hereto may execute this Amendment by signing any such counterpart. Counterparts may be delivered electronically. 

SECTION 5. Severability. Each provision and agreement herein shall be treated as separate and independent from any other provision
or agreement herein and shall be enforceable notwithstanding the unenforceability of any such other provision or agreement. 

SECTION 6. GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY THE INTERNAL LAWS OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT
TO THE CONFLICT OF LAW PRINCIPLES THEREOF, OTHER THAN SECTION 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW, WHICH SHALL GOVERN. 

[SIGNATURE PAGES FOLLOW] 

  
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 IN WITNESS WHEREOF, the parties have caused their names to be signed hereto by their
respective officers thereunto duly authorized as of the day and year first above written. 
  

			
	NOMURA CORPORATE FUNDING AMERICAS, LLC, as Buyer
		
	By:	 	/s/ Jack Kattan
	Name:	 	Jack Kattan
	Title:	 	Managing Director


 Signature Page to Amendment No. 3 to Master Repurchase Agreement (Nomura/FACo) 












 
			
	FINANCE OF AMERICA COMMERCIAL LLC
		
	By:	 	/s/ Robert Conway
	Name:	 	Robert Conway
	Title:	 	Treasurer


 Signature Page to Amendment No. 3 to Master Repurchase Agreement (Nomura/FACo)