Document:

Document

FIFTEENTH AMENDMENT TO MASTER REPURCHASE AGREEMENT
Dated as of June 30, 2021
Between:
LOANDEPOT.COM, LLC, as Seller
and
JPMORGAN CHASE BANK, N.A., as Buyer
The Parties have agreed to amend (for the fifteenth 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, 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, the Sixth Amendment to Master Repurchase Agreement dated November 10, 2017, the Seventh Amendment to Master Repurchase Agreement dated August 30, 2018, the Eighth Amendment to Master Repurchase Agreement dated October 15, 2018, the Ninth Amendment to Master Repurchase Agreement dated November 30, 2018, the Tenth Amendment to Master Repurchase Agreement dated April 30, 2019, the Eleventh Amendment to Master Repurchase Agreement dated August 9, 2019, the Twelfth Amendment to Master Repurchase Agreement dated October 14, 2019, the Omnibus Letter Agreement dated April 30, 2020, Thirteenth Amendment to Master Repurchase Agreement dated October 12, 2020, and the Fourteenth Amendment to Master Repurchase Agreement dated November 12, 2020, the “Amended MRA”, and as amended hereby and as further supplemented, amended or restated from time to time, the “MRA”), to revise the Margin Maintenance provisions.
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 sole numbered Section of this Amendment is numbered to correspond to the numbering of the Section of the Amended MRA amended hereby.
4.    Margin Maintenance.
A.    Section 4(a) of the Amended MRA is amended in its entirety to read as follows:
    (a)    Margin Deficit.  If at any time the sum of the Margin Amounts of all Purchased Mortgage Loans then subject to Transactions is less than the sum of their Repurchase Prices, a margin deficit (“Margin Deficit”) will exist, and if the Margin Deficit exceeds Two Hundred Fifty Thousand Dollars ($250,000), Buyer, by notice to Seller (a “Margin Call”), may require Seller to transfer to Buyer (x) cash, or (y) if Buyer is willing to accept them in lieu of cash, additional Eligible Mortgage Loans reasonably acceptable to Buyer (“Additional Purchased 

Mortgage Loans”), or (z) a combination, to the extent (if any) acceptable to Buyer, of cash and Additional Purchased Mortgage Loans, so that immediately after such transfer(s) the sum of (i) such cash, if any, so transferred to Buyer plus (ii) the aggregate of the Margin Amounts of all Purchased Mortgage Loans for all Transactions outstanding at that time, including any such Additional Purchased Mortgage Loans, will be at least equal to the sum of the Repurchase Prices of all Purchased Mortgage Loans then subject to outstanding Transactions.
B.    Section 4(c) of the Amended MRA is amended in its entirety to read as follows:
    (c)    Margin Excess.  If on any day after Seller has transferred cash or Additional Purchased Mortgage Loans to Buyer pursuant to Section 4(b), the sum of (i) the cash paid to Buyer and (ii) the aggregate of the Margin Amounts of all Purchased Mortgage Loans for all Transactions at that time, including any such Additional Purchased Mortgage Loans, exceeds the sum of the Repurchase Prices of all such Purchased Mortgage Loans by more than Two Hundred Fifty Thousand Dollars ($250,000), then at the request of Seller, Buyer shall return a portion of the cash or Additional Purchased Mortgage Loans to Seller so that the remaining sum of (i) and (ii) does not exceed the sum of such Repurchase Prices; provided that the sum of the cash plus the value of Additional Purchased Mortgage Loans returned shall be strictly limited to an amount, after the return of which, no Margin Deficit will exist.

(The remainder of this page is intentionally blank; counterpart signature pages follow)
2

As amended hereby, the Amended MRA remains in full force and effect, and the Parties hereby ratify and confirm it.
			
	JPMORGAN CHASE BANK, N.A.
	
	By:    /s/ Laura Carter                

	       Laura Carter

	      Authorized Officer

			
	LOANDEPOT.COM, LLC
	
	By:    /s/ Patrick Flanagan            

	       Patrick Flanagan
	       Chief Financial Officer
	

Counterpart Signature Page to Fifteenth Amendment to Master Repurchase AgreementEX-10.1

 Exhibit 10.1 

CONFIDENTIAL 

FORM OF AMENDMENT TO SUBSCRIPTION AGREEMENT 

This AMENDMENT TO SUBSCRIPTION AGREEMENT (this “Amendment”), dated June __, 2021, is entered into by and between Northern
Star Investment Corp. II, a Delaware corporation (the “Company”), and the undersigned subscriber (the “Subscriber”). 

WHEREAS, the Company and the Subscriber are parties to that certain Subscription Agreement, dated as of February 21, 2021 (the
“Subscription Agreement”) (capitalized terms used in this Amendment but not defined herein shall have the meanings ascribed to such terms in the Subscription Agreement), pursuant to which the Subscriber subscribed for and agreed to
purchase from the Company, and the Company agreed to issue and sell to the Subscriber, shares of Class A Common Stock of the Company; and 

WHEREAS, pursuant to Section 11.g of the Subscription Agreement, the Subscription Agreement may be amended pursuant to a written
instrument executed by the Subscriber and the Company; and 
 WHEREAS, the Company and the Subscriber desire to amend the Subscription
Agreement to extend the termination date of the Subscription Agreement. 
 NOW, THEREFORE, in consideration of the foregoing and the mutual
representations, warranties and covenants, and subject to the conditions, herein contained, and intending to be legally bound hereby, the parties hereto hereby agree as follows: 

1. Amendment. Section 9 of the Subscription Agreement is hereby amended by replacing the reference to “June 30, 2021”
with “August 31, 2021”. 
 2. No Other Modifications. Except as expressly set forth herein, the Subscription Agreement
shall remain unchanged and in full force and effect. This Amendment and the Subscription Agreement shall be read together as one agreement, and all references to “this Subscription Agreement” in the Subscription Agreement shall be deemed
to refer to the Subscription Agreement as modified and amended by this Amendment (other than references to the “date of this Agreement” or similar references which shall continue to refer to February 21, 2021). 

3. Miscellaneous. Section 11 of the Subscription Agreement is hereby incorporated into this Amendment mutatis
mutandis. 
 [SIGNATURE PAGES FOLLOW] 

 IN WITNESS WHEREOF, the undersigned has executed or caused this Amendment to be executed by
its duly authorized representative as of the date set forth below. 
 Name of Subscriber: 

 

			
	
	 
	(Print Name)
		
	By:	 	
	
	 
	(Signature)
	
	
	(Print Name)
	
	
	(Print Title)
		
	Date:	 	 
		 	

 IN WITNESS WHEREOF, Northern Star Investment Corp. II has executed or caused this Amendment
to be executed by its duly authorized representative as of the date set forth below. 
  

			
	NORTHERN STAR INVESTMENT CORP. II
		
	By:	 	 
		
	Name:	 	Joanna Coles
		
	Title:	 	Chief Executive Officer
		
	Dated:Document

EXHIBIT 4.1
DESCRIPTION OF CAPITAL STOCK

General
The following summary description of our capital stock is qualified in its entirety by our Amended and Restated Certificate
of Incorporation, our Amended and Restated By-laws and certain provisions of the Delaware General Corporation Law, or DGCL. Our Amended and Restated Certificate of Incorporation and our Amended and Restated Bylaws are incorporated by reference as exhibits to our Annual Report on Form 10-K for the year ended December 31, 2019 and on file with the Securities and Exchange Commission, or SEC.

Authorized Capital Stock
Our authorized capital stock consists of 200 million shares of Common Stock, par value $0.01 per share, and five million shares of preferred stock, par value $0.01 per share.

Common Stock
Voting Rights. The holders of our Common Stock are entitled to one vote for each share held of record on all matters submitted to a vote of the stockholders. Holders of shares of our Common Stock do not have cumulative voting rights.
Other Rights. Subject to the preferential liquidation rights of any preferred stock that may be outstanding, upon our liquidation, dissolution or winding-up, the holders of our Common Stock are entitled to share ratably in our assets legally available for distribution to our stockholders.
Fully Paid. The issued and outstanding shares of our Common Stock are fully paid and non-assessable. Any additional shares of Common Stock that we may issue in the future will also be fully paid and non-assessable.
The holders of our Common Stock do not have preemptive rights or preferential rights to subscribe for shares of our capital
stock.

Preferred Stock
Our Amended and Restated Certificate of Incorporation authorizes our Board to designate and issue from time to time one or more series of preferred stock without stockholder approval. Our Board may fix and determine the preferences, limitations and relative rights of each series of preferred stock.

Certain Provisions of Delaware Law, Our Amended and Restated Certificate of Incorporation and Amended and Restated By- laws
Amended and Restated Certificate of Incorporation and Amended and Restated By-laws
Certain provisions in our Amended and Restated Certificate of Incorporation and our Amended and Restated By-laws summarized below may be deemed to have an anti-takeover effect and may delay, deter or prevent a tender offer or takeover attempt that a stockholder might consider to be in its best interests, including attempts that might result in a premium being paid over the market price for the shares held by stockholders. These provisions are intended to discourage certain types of transactions that may involve an actual or threatened change of control.
Blank Check Preferred Stock. Our Amended and Restated Certificate of Incorporation permits us to issue, without any further vote or action by the stockholders, up to five million shares of preferred stock in one or more series and, with respect to each such series, to fix the number of shares constituting the series and the designation of the series, the voting powers (if any) of the shares of the series, and the preferences and relative, participating, optional and other special rights, if any, and any qualifications, limitations or restrictions, of the shares of such series. The ability to issue such preferred stock could discourage potential acquisition proposals and could delay or prevent a change in control.
No Stockholder Action by Written Consent. Our Amended and Restated Certificate of Incorporation expressly excludes the right of our stockholders to act by written consent. Stockholder action must take place at an annual meeting or at a special meeting of our stockholders.
Special Stockholder Meetings. Under our Amended and Restated By-laws, only the chairman of our Board or a majority of the members of our Board are able to call a special meeting of stockholders.

Requirements for Advance Notification of Stockholder Nominations and Proposals. Under our Amended and Restated By-laws, stockholders of record are able to nominate persons for election to our Board or bring other business constituting a proper matter for stockholder action only by providing proper notice to our secretary. Proper notice must be timely, generally between 90 and 120 days prior to the first anniversary of the prior year’s annual meeting, and must include, among other information, the name and address of the stockholder giving the notice, certain information regarding such stockholder’s beneficial ownership of our securities and any derivative instruments or other agreements the value of or return on which is based on or linked to the value of or return on our securities as of the date of the notice, certain information relating to each person whom such stockholder proposes to nominate for election as a director, including any arrangements or understandings between the nominating stockholder and the nominee, in the case of a director nomination, a representation that such stockholder is a holder of record of our Common Stock as of the date of the notice and a brief description of any other business such stockholder proposes to bring before the meeting and the reason for conducting such business, and, if such stockholder intends to solicit proxies, a representation to that effect.

Delaware Takeover Statute
Section 203 of the Delaware General Corporation Law, subject to certain exceptions, prohibits a Delaware corporation from engaging in any “business combination” (as defined below) with any “interested stockholder” (as defined below) for a period of three years following the date that such stockholder became an interested stockholder, unless: (1) prior to such date, the board of directors of the corporation approved either the business combination or the transaction that resulted in the stockholder becoming an interested stockholder; (2) on consummation of the transaction that resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced, excluding for purposes of determining the number of shares outstanding those shares owned (x) by persons who are directors and also officers and (y) by employee stock plans in which employee participants do not have the right to determine confidentially whether shares held subject to the plan will be tendered in a tender or exchange offer; or (3) on or subsequent to such date, the business combination is approved by the board of directors and authorized at an annual or special meeting of stockholders, and not by written consent, by the affirmative vote of at least 66 2/3% of the outstanding voting stock that is not owned by the interested stockholder.
Section 203 of the Delaware General Corporation Law defines “business combination” to include: (1) any merger or consolidation involving the corporation and the interested stockholder; (2) any sale, transfer, pledge or other disposition of 10% or more of the assets of the corporation involving the interested stockholder; (3) subject to certain exceptions, any transaction that results in the issuance or transfer by the corporation of any stock of the corporation to the interested stockholder; (4) any transaction involving the corporation that has the effect of increasing the proportionate share of the stock of any class or series of the corporation beneficially owned by the interested stockholder; or (5) the receipt by the interested stockholder of the benefit of any loans, advances, guarantees, pledges or other financial benefits provided by or through the corporation. In general, Section 203 defines an “interested stockholder” as any entity or person beneficially owning 15% or more of the outstanding voting stock of the corporation and any entity or person affiliated with or controlling or controlled by such entity or person. See “Risk Factors—Provisions in our Amended and Restated Certificate of Incorporation and Amended and Restated By-laws and of Delaware law may prevent or delay an acquisition of the Company, which could affect the trading price of the Common Stock.”

Stockholder Rights Plan
On March 25, 2020, our Board of Directors adopted a stockholder rights plan (the “Rights Agreement”), which was amended on July 13, 2020. In connection with our now-terminated Rights Agreement, the Board of Directors designated 100,000 shares of preferred stock as Series A Junior Participating Preferred Stock (the “Preferred Shares”), which series has certain rights and preferences that are greater than the rights of our common stock. The Rights Agreement expired in accordance with its terms on the close of business on December 31, 2020, and no rights were exercised or redeemed and no Preferred Shares were issued or are outstanding.

Listing
Our common stock is listed on the New York Stock Exchange under the symbol “BNED.”

Transfer Agent and Registrar.
The Transfer Agent and Registrar for the Class A common stock is Computershare Trust Company, N.A.

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