Document:

NSMH 06.30.2014 10-Q Exhibit 4.3

    
Exhibit 4.3
EXECUTION COPY

AMENDMENT NO. 1 TO INDENTURE 

Amendment No. 1 to the Indenture (this “Amendment”), dated as of April 22, 2014, among NATIONSTAR MORTGAGE ADVANCE RECEIVABLES TRUST, a statutory trust organized under the laws of the State of Delaware (the “Issuer”), THE BANK OF NEW YORK MELLON (“BNY Mellon”), a New York banking corporation, as Indenture Trustee (the “Indenture Trustee”), NATIONSTAR MORTGAGE LLC, a limited liability company organized in the State of Delaware (“Nationstar”), as Administrator on behalf of the Issuer (in such capacity, the “Administrator”) and as Servicer under the Designated Servicing Agreements (in such capacity, the “Servicer”), CREDIT SUISSE AG, NEW YORK BRANCH, as Administrative Agent (“Credit Suisse”), WELLS FARGO SECURITIES, LLC, as Administrative Agent (“Wells Fargo”), THE ROYAL BANK OF SCOTLAND PLC (“RBS”), as Administrative Agent (in such capacity, together with Credit Suisse and Wells Fargo, collectively, the “Administrative Agent” and individually an “Administrative Agent”) and consented to by 100% of the Noteholders of the Outstanding Series 2013-VF1 Notes, the Series 2013-VF2 Notes, the Series 2013-VF3 Notes and the Series 2013-VF4 Notes.  Capitalized terms used and not otherwise defined herein shall have the respective meanings given them in the Existing Indenture.

RECITALS

WHEREAS, the Issuer, the Indenture Trustee, BNY Mellon, as Calculation Agent (the “Calculation Agent”), as Paying Agent (the “Paying Agent”) and as Securities Intermediary (the “Securities Intermediary”), the Servicer, the Administrator and the Administrative Agent are parties to that certain Indenture, dated as of June 7, 2013 (the “Existing Indenture,” as amended by this Amendment, the “Indenture”);

WHEREAS, the Issuer, the Indenture Trustee, the Servicer, the Administrator, the Administrative Agent, and any applicable Derivative Counterparty have agreed, subject to the terms and conditions of this Amendment, that the Existing Indenture be amended to reflect certain agreed upon revisions to the terms of the Existing Indenture;  

WHEREAS, the Series 2013-T1 Notes issued pursuant to the Series 2013-T1 Indenture Supplement, dated as of June 7, 2013, among the Issuer, the Indenture Trustee, the Calculation Agent, the Paying Agent, the Securities Intermediary, Nationstar, Credit Suisse, Wells Fargo and RBS, have been redeemed prior to the date hereof and are no longer Outstanding;

WHEREAS, the Series 2013-VF1 Class E-T1 Term Notes and the Class F-T1 Term Notes issued pursuant to the Series 2013-VF1 Indenture Supplement (the “Series 2013-VF1 Indenture Supplement”), dated as of June 7, 2013, among the Issuer, the Indenture Trustee, the Calculation Agent, the Paying Agent, the Securities Intermediary, Nationstar and Credit Suisse, have been redeemed prior to the date hereof and are no longer Outstanding;

WHEREAS, the Series 2013-VF2 Class E-T2 Term Notes and the Class F-T2 Term Notes issued pursuant to the Series 2013-VF2 Indenture Supplement (the “Series 2013-VF2 Indenture Supplement”), dated as of June 7, 2013, among the Issuer, the Indenture Trustee, the Calculation Agent, the Paying Agent, the Securities Intermediary, Nationstar and Wells Fargo have been redeemed prior to the date hereof and are no longer Outstanding;

WHEREAS, the Series 2013-VF3 Class E-T3 Term Notes and the Class F-T3 Term Notes issued pursuant to the Series 2013-VF3 Indenture Supplement (the “Series 2013-VF3 Indenture Supplement”), dated as of June 7, 2013, among the Issuer, the Indenture Trustee, the Calculation Agent, the Paying Agent, the Securities Intermediary, Nationstar and RBS have been redeemed prior to the date hereof and are no longer Outstanding;

WHEREAS, Section 12.1(c) of the Indenture provides that the Issuer, the Indenture Trustee, the Administrator, the Servicer and the Administrative Agent (in its sole and absolute discretion) may at any time enter into an amendment to the Indenture without the consent of any of the Noteholders or any other Person, upon: (1) delivery of an Issuer Tax Opinion for the purpose of adding any provisions to, or changing in any manner or eliminating any of the provisions of, the Existing Indenture, or modifying in any manner the rights of the Noteholders of the Notes under the Indenture, (2) delivery by the Issuer to the Indenture Trustee of an Officer’s Certificate to the effect that the Issuer reasonably believes that such amendment could not have a material Adverse Effect on any Outstanding Notes and is not reasonably expected to have a material Adverse Effect at any time in the future (“No Adverse Effect Officer’s Certificate”), (3) the receipt of notice from each Note Rating Agency currently rating the Outstanding Notes confirming in writing to the Indenture Trustee that such amendment will not cause a Ratings Effect on any Outstanding Notes (“Rating Agency No-Downgrade Letter”) and (4) the consent of each Derivative Counterparty (evidenced by its execution of the acknowledgement to this Amendment). Additionally, pursuant to Section 12.3 of the Indenture, the Indenture Trustee is entitled to an Opinion of Counsel stating that the execution of such amendment is authorized or permitted by the Indenture and that all conditions precedent thereto have been satisfied (the “Authorization Opinion”); 

WHEREAS, the Existing Indenture and the Indenture Supplements thereto provide that default in payment of any Subordinated Interest Amounts or Subordinated Cumulative Interest Shortfall Amounts on any Payment Date constitutes an Event of Default with respect to the Series 2013-VF1 Notes, the Series 2013-VF2 Notes, the Series 2013-VF3 Notes and the Series 2013-VF4 Notes but not the Series 2013-T2 Notes or the Series 2013-T3 Notes.  Accordingly, the Issuer has requested that the Noteholders of the Outstanding Series 2013-VF1 Notes, the Series 2013-VF2 Notes, the Series 2013-VF3 Notes and the Series 2013-VF4 Notes consent to the amendments to the Existing Indenture contemplated in the event that such amendments could have a material Adverse Effect on such Notes and or could have a material Adverse Effect on such Notes at any time in the future.  The Noteholders of the Outstanding Series 2013-VF1 Notes, the Series 2013-VF2 Notes, the Series 2013-VF3 Notes and the Series 2013-VF4 Notes are willing to provide such consent on the terms and conditions set forth herein;

WHEREAS, as of the date hereof, Wells Fargo Bank, N.A. (“Wells Fargo Bank”) is the sole “Derivative Counterparty” for purpose of the Indenture. Wells Fargo Bank, in its capacity as the sole “Derivative Counterparty” is referred to herein as the “Derivative Counterparty”; and

WHEREAS, this Amendment is not effective until the execution and delivery of this Amendment by the parties hereto, the delivery of the Issuer Tax Opinion and the Authorization Opinion, the delivery of the No Adverse Effect Officer’s Certificate, and the receipt of the Rating Agency No-Downgrade Letter.

NOW, THEREFORE, the Issuer, the Indenture Trustee, the Servicer, the Administrator, the Administrative Agent, 100% of the Noteholders of the Series 2013-VF1 Notes, the Series 2013-VF2 Notes, the Series 2013-VF3 Notes and the Series 2013-VF4 Notes and the Derivative Counterparty hereby agree, in consideration of the amendments, agreements and other provisions herein contained and of certain other good and valuable consideration the receipt and sufficiency of which is hereby acknowledged by the parties hereto, that the Existing Indenture is hereby amended as follows:

SECTION 1.    Amendments to Existing Indenture.  Effective as of the Amendment Effective Date, the Existing Indenture is hereby amended as follows:

1.1    Section 8.1 of the Indenture is hereby amended by adding a new clause (i) at the end thereof as follows: (i) replacing the “.” at the end of clause (h) thereof with “; and” and (ii) inserting the following new clause (i):
“(i) the occurrence of a Facility Early Amortization Event.”

1.2    Section 8.1 of the Indenture is amended further by adding the following sentence at the end of such section:
“Notwithstanding anything contained herein to the contrary and for the avoidance of doubt, default in the payment of any Subordinated Interest Amounts or Subordinated Cumulative Interest Shortfall Amounts at any time shall not constitute an Event of Default under this Indenture.”

SECTION 2.    Derivative Counterparty Consent. The Derivative Counterparty hereby consents to this Amendment.

SECTION 3.    Consent of the Series 2013-VF1 Notes, the Series 2013-VF2 Notes, the Series 2013-VF3 Notes and the Series 2013-VF4 Notes Noteholders.  Each of (i) Credit Suisse AG, Cayman Islands Branch, in its capacity as committed purchaser of the Series 2013-VF1 Variable Funding Notes issued under the Series 2013-VF1 Indenture Supplement (in such capacity, the “VF1 Committed Purchaser”) and of the Series 2013-VF4 Variable Funding Notes issued under the Series 2013-VF4 Indenture Supplement (in such capacity, the “VF4 Committed Purchaser”) and Alpine Securitization Corp., in its capacity as conduit purchaser of the Series 2013-VF1 Variable Funding Notes issued under the Series 2013-VF1 Indenture Supplement (the “Series 2013-VF1 Conduit Purchaser”) and of the Series 2013-VF4 Variable Funding Notes issued under the Series 2013-VF4 Indenture Supplement (the “Series 2013-VF4 Conduit Purchaser”), (ii) Wells Fargo Bank, in its capacity as committed purchaser of the Series 2013-VF2 Variable Funding Notes issued under the Series 2013-VF2 Indenture Supplement (in such capacity, the “VF2 Committed Purchaser”) and (iii) RBS, in its capacity as committed purchaser of the Series 2013-VF3 Variable Funding Notes issued under the Series 2013-VF3 Indenture Supplement (in such capacity, the “VF3 Committed Purchaser”) confirms that (i) together they are sole Noteholders of all Outstanding Notes with respect to the Series 2013-VF1 Notes, the Series 2013-VF2 Notes, the Series 2013-VF3 Notes and the Series 2013-VF4 Notes with the right to instruct the Indenture Trustee, (ii) it is authorized to deliver this Amendment, such power has not been granted or assigned to any other person and the Indenture Trustee may rely upon such certification, (iii) it acknowledges and agrees that the amendments effected by this Amendment shall become effective on the Amendment Effective Date and (iv) its consent to this Amendment shall constitute an “Act” by it as described in Section 1.5 of the Base Indenture.

SECTION 4.    Conditions to Effectiveness of the Amendment.  This Amendment shall become effective on the date hereof (the “Amendment Effective Date”) subject to the satisfaction of the following conditions precedent: 

4.1    the execution and delivery of this Amendment by all parties hereto; 
4.2    the delivery of the Issuer Tax Opinion;
4.3    the delivery of the No Adverse Effect Officer’s Certificate; 
4.4    the receipt of the Rating Agency No-Downgrade Letter; and

4.5    the delivery of the Authorization Opinion.

SECTION 5.    Representations and Warranties.  The Issuer hereby represents and warrants to the Indenture Trustee, the Administrative Agent, the Derivative Counterparty and the VF1 Committed Purchaser, the VF1 Conduit Purchaser, the VF2 Committed Purchaser, the VF3 Committed Purchaser, the VF4 Committed Purchaser and the VF4 Conduit Purchaser that as of the date hereof, (i) the Issuer is in compliance with all the terms and provisions set forth in the Indenture on its part to be observed or performed and remains bound by the terms thereof, and (ii) after giving effect to the terms of this Amendment, no Event of Default has occurred or is continuing, and hereby confirms and reaffirms the representations and warranties contained in Section 9.1 of the Indenture.

SECTION 6.    Limited Effect.  Except as expressly amended and modified by this Amendment, the Existing Indenture shall continue to be, and shall remain, in full force and effect in accordance with its terms and the execution of this Amendment.

SECTION 7.    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 8.    Counterparts.  This Amendment may be executed by each of the parties hereto on any number of separate counterparts, each of which shall be an original and all of which taken together shall constitute one and the same instrument.

SECTION 9.    GOVERNING LAW.  THIS AMENDMENT AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO OR IN CONNECTION WITH THIS AMENDMENT, THE RELATIONSHIP OF THE PARTIES HERETO, AND/OR THE INTERPRETATION AND ENFORCEMENT OF THE RIGHTS AND DUTIES OF THE PARTIES HERETO WILL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK (WITHOUT REFERENCE TO THE CONFLICT OF LAW PRINCIPLES THEREOF OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW) AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.

[SIGNATURE PAGES FOLLOW]

Signature Page to Amendment No. 1 to Indenture 

IN WITNESS WHEREOF, the undersigned have caused this Amendment to be duly executed as of the date first above written.

NATIONSTAR MORTGAGE ADVANCE RECEIVABLES TRUST, as Issuer

By: Wilmington Trust, National Association, not in its individual capacity but solely as Owner Trustee

By:  /s/ Erwin M. Soriano                                                              Name:  Erwin M. Soriano                                                             Title:  Vice President

Signature Page to Amendment No. 1 to Indenture 

NATIONSTAR MORTGAGE LLC, as Administrator and Servicer

By: /s/ Amar Patel                                                                        Name:  Amar Patel                                                                       Title:  EVP

Signature Page to Amendment No. 1 to Indenture 

THE BANK OF NEW YORK MELLON, not in its individual capacity, but solely as Indenture Trustee

By: /s/ Helen Lam                                                                          Name:  Helen Lam                                                                     Title:  Vice President

Signature Page to Amendment No. 1 to Indenture 

CREDIT SUISSE AG, NEW YORK BRANCH, as Administrative Agent 

By:  /s/ Jason Muncy                                                                    Name:  Jason Muncy
Title:  Vice President

By:  /s/ Oliver Nisenson                                 
Name:  Oliver Nisenson
Title:  Director

Signature Page to Amendment No. 1 to Indenture 

WELLS FARGO SECURITIES, LLC, as Administrative Agent

By:  /s/ Andrew W. Riebe                                    
Name:  Andrew W. Riebe
Title:  Director

Signature Page to Amendment No. 1 to Indenture 

THE ROYAL BANK OF SCOTLAND PLC, as Administrative Agent

By: RBS Securities Inc., its agent

By:  /s/ Dominic Obaditch                                           
Name:  Dominic Obaditch
Title:  Managing Director

Signature Page to Amendment No. 1 to Indenture 

ACKNOWLEDGED AND AGREED:

WELLS FARGO BANK, N.A., as Derivative Counterparty 

By:  /s/ Joe Hunter                                              
Name:  Joe Hunter
Title:  Authorized Signatory

Signature Page to Amendment No. 1 to Indenture 

ACKNOWLEDGED AND CONSENTED:

CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as VF1 Committed Purchaser and VF4 Committed Purchaser 

By: /s/ Jason D. Muncy                                               
Name:  Jason D. Muncy
Title:  Authorized Signatory

By:  /s/ Oliver Nisenson                                              
Name:  Oliver Nisenson
Title:  Authorized Signatory

Signature Page to Amendment No. 1 to Indenture 

ALPINE SECURITIZATION CORP., as VF1 Conduit Purchaser and VF4 Conduit Purchaser 

By:  Credit Suisse AG, New York Branch, as its attorney-in-fact

By:  /s/ Jason Muncy    
Name:  Jason Muncy
Title:  Vice President

By:  /s/ Oliver Nisenson    
Name:  Oliver Nisenson
Title:  Director

WELLS FARGO BANK, N.A., as VF2 Committed Purchaser 

By:  /s/ Andrew W. Riebe    
Name:  Andrew W. Riebe
Title:  Director
THE ROYAL BANK OF SCOTLAND PLC, as VF3 Committed Purchaser 

By: RBS Securities Inc., its agent

By:  /s/ Dominic Obaditch    
Name:  Dominic Obaditch
Title:  Managing DirectorNSMH 06.30.2014 10-Q Exhibit 4.4

Exhibit 4.4
EXECUTION COPY
AMENDMENT NO. 1                                                                                                                                               TO SERIES 2013-VF1 INDENTURE SUPPLEMENT
Amendment No. 1 to the Series 2013-VF1 Indenture Supplement, dated as of June 5, 2014 (this “Amendment”), among NATIONSTAR MORTGAGE ADVANCE RECEIVABLES TRUST, as issuer (the “Issuer”), THE BANK OF NEW YORK MELLON (“BNY Mellon”), as trustee (in such capacity, the “Indenture Trustee”), NATIONSTAR MORTGAGE LLC, as administrator on behalf of the Issuer (in such capacity, the “Administrator”) and as servicer under the Designated Servicing Agreements (in such capacity, the “Servicer”), and CREDIT SUISSE AG, NEW YORK BRANCH, as administrative agent (in such capacity, the “Administrative Agent”), and consented to by WELLS FARGO BANK, N.A., as derivative counterparty (the “Derivative Counterparty”), CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as committed purchaser of the Series 2013-VF1 Variable Funding Notes (in such capacity, the “Committed Purchaser”), and ALPINE SECURITIZATION CORP., as conduit purchaser of the Series 2013-VF1 Variable Funding Notes (in such capacity, the “Conduit Purchaser” and together with the Committed Purchaser, collectively the “Purchasers”).
RECITALS
The Issuer, the Indenture Trustee, BNY Mellon, as calculation agent (in such capacity, the “Calculation Agent”), as paying agent (in such capacity, the “Paying Agent”) and as securities intermediary (in such capacity, the “Securities Intermediary”), the Servicer, the Administrator, the Administrative Agent, Wells Fargo Securities, LLC, as administrative agent, and The Royal Bank of Scotland plc, as administrative agent, are parties to that certain Indenture, dated as of June 7, 2013 (as amended by Amendment No. 1 to Indenture, dated as of April 22, 2014, the “Existing Base Indenture”), as modified by that certain Series 2013-VF1 Indenture Supplement, dated as of June 7, 2013 (the “Existing Indenture Supplement” and together with the Existing Base Indenture, the “Existing Indenture”), among the Issuer, the Indenture Trustee, Calculation Agent, Paying Agent, Securities Intermediary, the Administrator, the Servicer and the Administrative Agent.  Capitalized terms used but not otherwise defined herein shall have the meanings given to them in the Existing Indenture.
The Issuer, the Indenture Trustee, the Servicer, the Administrator, the Administrative Agent, the Derivative Counterparty and the Purchasers have agreed, subject to the terms and conditions of this Amendment, that the Existing Indenture Supplement be amended as set forth herein.
Pursuant to Section 12.2 of the Existing Base Indenture, any Indenture Supplement may be amended, supplemented or otherwise modified with the consent of each of the Noteholders of the Notes of the related Series.    Pursuant to Section 13(b) of the Existing Indenture Supplement, no supplement, amendment or indenture supplement entered into with respect to the issuance of a new Series of Notes or pursuant to the terms and provisions of Section 12.2 of the Existing Base Indenture may, without the consent of 100% of the Series 2013-VF1 Variable Funding Notes, supplement, amend or revise any term or provision of the Existing Indenture Supplement.  Pursuant to Section 13(c) of the Existing Indenture Supplement, no amendment to the Existing Indenture Supplement shall be effective without the consent of the Derivative Counterparty.
Additionally, pursuant to Section 12.3 of the Existing Base Indenture, the Indenture Trustee is entitled to an Opinion of Counsel stating that the execution of such amendment is authorized or permitted 

by the Existing Base Indenture and that all conditions precedent thereto have been satisfied (the “Authorization Opinion”).
The Note Rating Agency has been provided notice of the amendments contemplated hereby on or prior to the date hereof (such notice, the “Rating Agency Notice”).
The Series 2013-VF1 Class E-T1 Term Notes and the Class F-T1 Term Notes issued pursuant to the Existing Indenture Supplement have been redeemed prior to the date hereof and are no longer Outstanding.
The Purchasers hold 100% of the beneficial interests in the Series 2013-VF1 Variable Funding Notes and therefore are Noteholders of all of the Series 2013-VF1 Notes.
Accordingly, the Issuer, the Indenture Trustee, the Servicer, the Administrator, the Administrative Agent, the Purchasers and the Derivative Counterparty hereby agree, in consideration of the mutual promises and mutual obligations set forth herein, that the Existing Indenture Supplement is hereby amended as follows:

SECTION 1.     Amendments.  Effective as of the Amendment Effective Date (as defined below):

1.1    Section 2 of the Existing Indenture Supplement shall be amended by deleting the definitions of “Derivative Agreement”, “Expected Repayment Date”, “Fee Letter”, “Margin” and “Senior Margin”  in their entirety and replacing them with the following:
		
	
	

“Derivative Agreement” means, collectively, (i) the ISDA Master Agreement, the schedule thereto, and the credit support annex thereto, each dated as of June 7, 2013 between the Derivative Counterparty and the Issuer, (ii) the related confirmation (reference number 9860947 (Internal Reference 13016805)), dated April 28, 2014, between the Derivative Counterparty and the Issuer and (iii) any replacement therefor in accordance with such agreements and the terms thereof.

“Expected Repayment Date” means for each Class of the Series 2013-VF1 Notes, June 30, 2015, as such date may be extended from time to time pursuant to Section 7 hereof.
“Fee Letter” means that certain Fee Letter Agreement, dated the date hereof, among the Administrative Agent, as the sole lead arranger with respect to the Series 2013-VF1 Notes, the Administrator, the Servicer and the Issuer, as may be amended, restated, supplemented or otherwise modified from time to time.

“Margin” means, for each applicable Class of the Series 2013-VF1 Notes, the per annum rate set forth or determined as described below:

(i)Class A-VF1:  1.375%;

(ii)Class B-VF1:  1.900%;

(iii)Class C-VF1:  2.00%; and

(iv)Class D-VF1:  2.50%.

 “Senior Margin” means, for each applicable Class of the Series 2013-VF1 Notes, the per annum rate set forth or determined as described below:

(i)Class A-VF1:  1.375%;

(ii)Class B-VF1:  1.900%;

(iii)Class C-VF1:  2.00%; and

(iv)Class D-VF1:  2.50%.

1.2    Clause (a)(1) of Section 9 of the Existing Indenture Supplement shall be amended by deleting such clause in its entirety and replacing it as follows:
(1)    shall subject such Noteholder to any tax of any kind whatsoever with respect to its Series 2013-VF1 Variable Funding Note (excluding income taxes, branch profits taxes, franchise taxes or similar taxes imposed on such Noteholder as a result of any present or former connection between such Noteholder and the United States, other than any such connection arising solely from such Noteholder having executed, delivered or performed its obligations or received a payment under, or enforced, this Indenture Supplement or any U.S. federal withholding taxes imposed under Code sections 1471 through 1474 as of the Issuance Date (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), any regulations or official interpretations thereunder and any agreements entered into under section 1471(b) of the Code) or change the basis of taxation of payments to such Noteholder in respect thereof; shall impose, modify or hold applicable any reserve, special deposit, compulsory loan or similar requirement against assets held by, deposits or other liabilities in or for the account of, advances, or other extensions of credit by, or any other acquisition of funds by, any office of such Noteholder which is not otherwise included in the determination of the Note Interest Rate hereunder; or

1.3    Exhibit A of the Existing Indenture Supplement shall be amended by deleting such exhibit in its entirety and replacing it with the Exhibit A attached hereto.

SECTION 2.    Noteholder Consent.  Each of the Purchasers hereby confirms that (i) together they are sole Noteholders of all Outstanding Notes with respect to the Series 2013-VF1 Notes with the right to instruct the Indenture Trustee, (ii) it is authorized to deliver this Amendment, such power has not been granted or assigned to any other person and the Indenture Trustee may rely upon such certification, (iii) it acknowledges and agrees that the amendments effected by this Amendment shall become effective on the Amendment Effective Date and (iv) its consent to this Amendment shall constitute an “Act” by it as described in Section 1.5 of the Base Indenture.

SECTION 3.    Conditions to Effectiveness of the Amendment.  This Amendment shall become effective on the date hereof (the “Amendment Effective Date”) subject to the satisfaction of the following conditions precedent:

3.1    the execution and delivery of this Amendment by all parties hereto; 

3.2    the delivery of an Issuer Tax Opinion with respect to this Amendment;
3.3    the delivery of the Rating Agency Notice;
3.4    the delivery to the Administrative Agent and the Purchasers of an opinion of counsel addressing security interest matters with respect to the Receivables, including continuation of perfection and priority of such security interest; and
3.5    the delivery of the Authorization Opinion.
SECTION 4. Representations and Warranties.  The Issuer hereby represents and warrants to the Indenture Trustee, the Administrative Agent and the Purchasers that it is in compliance with all the terms and provisions set forth in the Existing Indenture on its part to be observed or performed, and that no Event of Default has occurred or is continuing, and hereby confirms and reaffirms the representations and warranties contained in Section 9.1 of the Existing Base Indenture.

SECTION 5.    Limited Effect.  Except as expressly amended and modified by this Amendment, the Existing Indenture shall continue to be, and shall remain, in full force and effect in accordance with its terms and the execution of this Amendment.

SECTION 6.    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 7.    Counterparts.  This Amendment may be executed by each of the parties hereto on any number of separate counterparts, each of which shall be an original and all of which taken together shall constitute one and the same instrument.

SECTION 8. GOVERNING LAW.  THIS AMENDMENT AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO OR IN CONNECTION WITH THIS AMENDMENT, THE RELATIONSHIP OF THE PARTIES HERETO, AND/OR THE INTERPRETATION AND ENFORCEMENT OF THE RIGHTS AND DUTIES OF THE PARTIES HERETO WILL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK (WITHOUT REFERENCE TO THE CONFLICT OF LAW PRINCIPLES THEREOF OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW) AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.

[SIGNATURE PAGES FOLLOW]

IN WITNESS WHEREOF, the undersigned have caused this Amendment to be duly executed as of the date first above written.
NATIONSTAR MORTGAGE ADVANCE RECEIVABLES TRUST, as Issuer
By: Wilmington Trust, National Association, not in its individual capacity but solely as Owner Trustee 
By:  /s/ Erwin M. Soriano____________________                                                                                       Name:  Erwin M. Soriano                                                        Title:  Vice President

Signature Page to Amendment No. 1 to Series 2013-VF1 Indenture Supplement

THE BANK OF NEW YORK MELLON, as Indenture Trustee and not in its individual capacity
By:  /s/ Glenn E. Mitchell                                                          Name:  Glenn E. Mitchell                                                             Title:  Vice President

Signature Page to Amendment No. 1 to Series 2013-VF1 Indenture Supplement

NATIONSTAR MORTGAGE LLC, as Administrator and as Servicer
By:  /s/ Ellen Coleman                                                                Name:  Ellen Coleman                                                              Title:  EVP

Signature Page to Amendment No. 1 to Series 2013-VF1 Indenture Supplement

CREDIT SUISSE AG, NEW YORK BRANCH, as Administrative Agent
By:  /s/ Oliver Nisenson                                                                Name:  Oliver Nisenson                                                            Title:  Director
By:  /s/ Jason Muncy                                                                     Name:  Jason Muncy                                                                     Title:  Director

Signature Page to Amendment No. 1 to Series 2013-VF1 Indenture Supplement

Consented to by:

WELLS FARGO BANK, N.A., as Derivative Counterparty
By:  /s/ Joe Hunter                                                                Name:  Joe Hunter                                                                Title:  Authorized Signatory

Signature Page to Amendment No. 1 to Series 2013-VF1 Indenture Supplement

Consented to by:

CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as Committed Purchaser of the Series 2013-VF1 Variable Funding Notes 
By: /s/ Oliver Nisenson                                                        Name:  Oliver Nisenson                                               Title:  Authorized Signatory
By:  /s/ Jason Muncy                                                          Name:  Jason Muncy                                                     Title:  Authorized Signatory

Signature Page to Amendment No. 1 to Series 2013-VF1 Indenture Supplement

Consented to by:

ALPINE SECURITIZATION CORP., as Conduit Purchaser of the Series 2013-VF1 Variable Funding Notes 

      By:  CREDIT SUISSE AG, NEW YORK   
       BRANCH, as its attorney-in-fact                                                                

By: /s/ Oliver Nisenson                                                                                 Name:  Oliver Nisenson                                                  Title:  Director
By:  /s/ Jason Muncy                                                      Name:  Jason Muncy                                                    Title:  Director

Signature Page to Amendment No. 1 to Series 2013-VF1 Indenture Supplement

 

Exhibit A
	
		
	Period1*
	Maximum Termination Payment

	1
	$2,482,920

	2
	2,381,940

	3
	2,292,283

	4
	2,217,848

	5
	2,158,262

	6
	2,109,628

	7
	2,071,018

	8
	2,040,019

	9
	2,012,361

	10
	1,987,858

	11
	1,967,996

	12
	1,952,961

	13
	1,942,751

	14
	1,871,286

	15
	1,803,718

	16
	1,739,306

	17
	1,678,421

	18
	1,621,063

	19
	1,565,933

	20
	1,514,514

	21
	1,466,994

	22
	1,422,259

	23
	1,381,978

	24
	1,346,153

	25
	1,314,225

	26
	1,285,639

	27
	1,260,023

	28
	1,236,448

	29
	1,214,916

	30
	1,195,239

	31
	1,177,234

	
		
	32
	1,161,456

	33
	1,147,905

	34
	1,136,025

	35
	1,126,929

	36
	1,120,804

	37
	1,117,648

	38
	1,051,751

	39
	987,896

	40
	925,898

	41
	865,384

	42
	805,984

	43
	747,883

	44
	691,268

	45
	636,137

	46
	582,120

	47
	531,073

	48
	482,439

	49
	436,404

	50
	392,226

	51
	349,718

	52
	308,880

	53
	269,342

	54
	230,732

	55
	193,050

	56
	156,853

	57
	121,956

	58
	88,358

	59
	56,616

	60
	27,101

_______________________________________________________

 1* The Advance Collection Period preceding the related Payment Date or, in the case of an Interim Payment Date, the Advance Collection Period in which the Interim Payment Date occurs.  The reference to “1” above is a reference to the Advance Collection Period in which the Closing Date occurred.

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