Document:

Document

EXECUTION 

AMENDMENT NO. 7 TO 
MASTER REPURCHASE AGREEMENT
Amendment No. 7 to Master Repurchase Agreement, dated as of May 21, 2021 (this “Amendment”), among CREDIT SUISSE FIRST BOSTON MORTGAGE CAPITAL LLC (the “Administrative Agent”), CREDIT SUISSE AG, a company incorporated in Switzerland, acting through its Cayman Islands Branch (“CS Cayman”, a “Committed Buyer” and a “Buyer”), ALPINE SECURITIZATION LTD (“Alpine” and a “Buyer” and together with CS Cayman, the “Buyers”) and LOANDEPOT.COM, LLC (the “Seller”). 
RECITALS
The Administrative Agent, CS Cayman and the Seller are parties to that certain (i) Master Repurchase Agreement, dated as of March 10, 2017 (as amended by Amendment No. 1, dated as of August 11, 2017, Amendment No. 2, dated as of January 31, 2018, Amendment No. 3, dated as of April 8, 2019, Amendment No. 4, dated as of February 26, 2020, Amendment No. 5, dated as of September 25, 2020, and Amendment No. 6, dated as of March 1, 2021, the “Existing Repurchase Agreement”; and as further amended by this Amendment, the “Repurchase Agreement”) and (ii) Amended and Restated Pricing Side Letter, dated as of May 21, 2021 (as amended, restated, supplemented or otherwise modified from time to time, the “Pricing Side Letter”).  Capitalized terms used but not otherwise defined herein shall have the meanings given to them in the Repurchase Agreement or Pricing Side Letter, as applicable.
The Administrative Agent, the Buyers and the 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, the Administrative Agent, the Buyers and the 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.Applicability.  Section 1 of the Existing Repurchase Agreement is hereby amended by deleting such section in its entirety and replacing it with the following:
From time to time the parties hereto may enter into transactions in which Seller agrees to transfer to Administrative Agent on behalf of Buyers certain Purchased Assets (including, without limitation, the related Contributed Assets) (as hereinafter defined) on a servicing released basis against the transfer of funds by Administrative Agent, with a simultaneous agreement by Administrative Agent on behalf of Buyers to transfer to Seller such Purchased Assets on a servicing released basis at a date certain or on demand, against the transfer of funds by Seller.  Each such transaction shall be referred to herein as a “Transaction” and, unless otherwise agreed in writing, shall be governed by this Agreement, including any supplemental terms or conditions contained in any annexes identified herein, as applicable hereunder.  For the avoidance of doubt, and for administrative and tracking purposes, (a) the purchase and sale of each Purchased Mortgage Loan shall be deemed a separate Transaction and (b) with respect to each Designated Mortgage Loan, such Designated Mortgage Loan may, at Buyers’ option, be 
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sold to different Buyers on a pro rata basis, such that one Buyer pays the Purchase Price-Base and other Buyers pay the Purchase Price-Incremental 1 and Purchase Price-Incremental 2, as applicable, and, in which case, the Administrative Agent shall own the Designated Mortgage Loan, for the benefit of the purchasing Buyers, on a pro rata, pari passu basis.

This Agreement is a commitment by Committed Buyer and/or Administrative Agent on behalf of Committed Buyer to engage in the Transactions the subject of which are Purchased Mortgage Loans up to the Maximum Committed Amount.  In no event shall the Committed Buyer and/or Administrative Agent on behalf of Committed Buyer have any commitment to enter into any Transaction requested that would result in the aggregate Purchase Price of then-outstanding Transactions to exceed the Maximum Committed Amount.  For the avoidance of doubt, Transactions attributed to the Maximum Committed Amount shall solely be attributed to the Committed Buyer and Alpine shall have no commitment hereunder to enter into Transactions.
SECTION 2.Definitions.  Section 2 of the Existing Repurchase Agreement is hereby amended by:
2. 1.deleting the definitions “Affiliate”, “Change in Control”, “GNMA Haircut Amount”, “Mortgage Loan”, “Price Differential” and “Pricing Side Letter” in their entirety and replacing them with the following:
“Affiliate” shall mean with respect to any specified entity, any other entity controlling or controlled by or under common control with such specified entity.  For the purposes of this definition, “control” when used with respect to a specified entity means the power to direct the management and policies of such entity, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise, and the terms “controlling” and “controlled” having meanings correlative to the foregoing. For removal of doubt, any Permitted Holder or any joint venture for which Seller or LD Holdings Group LLC owns less than fifty percent (50%) of the equity interests therein shall not be considered an Affiliate for purposes of this Agreement or any other Program Agreement.
“Change in Control” means: 
(1).any event or series of events by which any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended), but excluding any employee benefit plan of such person or its Subsidiaries, and any person or entity acting in its capacity as trustee, agent or other fiduciary or administrator of any such plan, other than the Permitted Holders becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Securities Exchange Act of 1934, as amended) of the equity securities of loanDepot, Inc., a Delaware corporation, entitled to vote for members of the board of directors or equivalent governing body of Seller on a fully-diluted basis;
(2).the sale, transfer, or other disposition of all or substantially all of Seller’s assets (excluding any such action taken in connection with any securitization transaction); or
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(3).if Seller is a Delaware limited liability company, Seller enters into any transaction or series of transactions to adopt, file, effect or consummate a Division, or otherwise permits any such Division to be adopted, filed, effected or consummated.
“GNMA Haircut Amount” means, with respect to a Simultaneously Funded Early Buyout Loan, an amount equal to (i) the amount due to GNMA to repurchase such Mortgage Loan from GNMA less (ii) the Purchase Price-Base plus Purchase Price-Incremental 1 for such Mortgage Loan.
“Mortgage Loan” means any Approved Product Type which is a fixed or floating rate, one to four family residential mortgage or home equity loan evidenced by a promissory note and secured by a first (or, in the case of Second Lien Mortgage Loans, second) lien mortgage, which satisfies the requirements set forth in the Underwriting Guidelines and Section 13(b) hereof; provided that Mortgage Loans shall not include any High Cost Mortgage Loans and shall not include home equity conversion loans.
“Price Differential” has the meaning assigned to such term in the Pricing Side Letter.
“Pricing Side Letter” means the amended and restated letter agreement dated as of May 21, 2021, among Administrative Agent, Buyers and Seller, as the same may be amended, restated, supplemented or otherwise modified from time to time.
2.2.adding the following definitions in their proper alphabetical order:
“Approved Product Type” means the type of Mortgage Loans set forth on the Asset Matrix and that are applicable to the terms of the Program Agreements. 
“Committed Buyer” shall mean Credit Suisse AG, a company incorporated under the laws of Switzerland, acting through its Cayman Islands Branch.
“Designated Mortgage Loan” means a Purchased Asset and/or Contributed Asset that is identified by Administrative Agent as eligible for a Purchase Price-Base, a Purchase Price-Incremental 1 and/or a Purchase Price-Incremental 2.
“Hsieh Investors” shall mean each of the JLSSAA Trust, established September 4, 2014, JLSA, LLC, Trilogy Mortgage Holdings, Inc., Trilogy Management Investors Six, LLC, Trilogy Management Investors Seven, LLC and Trilogy Management Investors Eight, LLC and each of their respective affiliates.
“Non-Affiliate Buyer” has the meaning specified in Section 19 hereof.
“Non-Affiliate MRA” has the meaning specified in Section 19 hereof. 
“Non-Affiliate Transactions” has the meaning specified in Section 19 hereof.
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“Parthenon Investors” shall mean each of  Parthenon Investors III, L.P., PCap Associates, Parthenon Capital Partners Fund, L.P., Parthenon Investors IV, L.P., Parthenon Capital Partners Fund II, L.P. and PCP Managers, L.P. and each of their respective affiliates.
“Permitted Holders” shall mean any of the Hsieh Investors and the Parthenon Investors.
“Pool” means a subset of Purchased Mortgage Loans subject to Transactions which shall be identified from time to time by the Administrative Agent. 
“Pool Subdivision Notice” means a written notice delivered by Administrative Agent to Sellers, which shall identify the discrete Purchased Mortgage Loans which shall be allocated to different Pools. 
“Purchase Price Deficit-Base/Incremental 1” has the meaning specified in Section 6.d hereof.
“Severance Notice” has the meaning specified in Section 19 hereof.
“Successor Rate” means a rate determined by Administrative Agent in accordance with Section 5.c hereof.
“Successor Rate Conforming Changes” means 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 Administrative Agent, to reflect the adoption of such Successor Rate and to permit the administration thereof by Administrative Agent in a manner substantially consistent with market practice.
SECTION 3.Program; Initiation of Transactions. Section 3 of the Existing Repurchase Agreement is hereby amended by deleting paragraph a in its entirety and replacing it with the following:
a.    From time to time, in the sole discretion of Buyers, Administrative Agent (for the benefit of Buyers) may facilitate the purchase by Buyers from Seller of certain Mortgage Loans that have been originated and/or purchased by Seller.  This Agreement is a commitment by Committed Buyer and Administrative Agent on behalf of Committed Buyer to enter into Transactions with Seller up to an aggregate amount not to exceed the Maximum Committed Amount. This Agreement is not a commitment by Committed Buyer or Administrative Agent on behalf of Committed Buyer to enter into Transactions with Seller for amounts exceeding the Maximum Committed Amount, but rather sets forth the procedures to be used in connection with periodic requests for Buyers or Administrative Agent on behalf of Buyers to enter into Transactions with Seller.  For the avoidance of doubt, Transactions attributed to the Maximum Committed Amount shall solely be attributed to the Committed Buyer and Alpine shall have no commitment hereunder to enter into Transactions.  Any Transactions entered into in excess of the Maximum Committed Amount shall be entered into solely on an uncommitted basis.  All 
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Purchased Mortgage Loans shall meet the requirements set forth in the Asset Guidelines, and shall be serviced by Seller or Servicer, as applicable.  The sum of the Aggregate Purchase Price-Base, the Aggregate Purchase Price-Incremental 1 and the Aggregate Purchase Price-Incremental 2 shall not exceed the Maximum Aggregate Purchase Price.  With respect to each Designated Asset, the Purchase Price-Incremental 2 shall not be drawn upon until such time that the Purchase Price Base and Purchase Price-Incremental 1 have been fully drawn.
SECTION 4.Price Differential. Section 5 of the Existing Repurchase Agreement is hereby amended by adding the following at the end thereof:
c.  If prior to any Price Differential Payment Date, Administrative Agent determines in its sole discretion that, by reason of circumstances affecting the relevant market, adequate and reasonable means do not exist for ascertaining LIBOR, LIBOR is no longer in existence, or the administrator of LIBOR or a Governmental Authority having jurisdiction over Administrative Agent has made a public statement identifying a specific date after which LIBOR shall no longer be made available or used for determining the interest rate of loans, Administrative Agent may give prompt notice thereof to Seller, whereupon the rate for such period that will replace LIBOR for such period, and for all subsequent periods until such notice has been withdrawn by Administrative Agent, shall be the greater of (i) an alternative benchmark rate (including any mathematical or other adjustments to the benchmark rate (if any) incorporated therein) and (ii) zero, together with any proposed Successor Rate Conforming Changes, as determined by Administrative Agent in its sole discretion (any such rate, a “Successor Rate”).
SECTION 5.Margin Maintenance. Section 6 of the Existing Repurchase Agreement is hereby amended by:
5.1.amending the title of such section as follows: 
6.   Margin Maintenance; Reallocation of Purchase Price
5.2.deleting subsection a. in its entirety and replacing it with the following:
a.If at any time the outstanding Purchase Price-Base plus Purchase Price-Incremental 1 of any Purchased Asset subject to a Transaction is greater than the Asset Value-Base plus Asset Value-Incremental 1 of such Purchased Asset subject to a Transaction (a “Margin Deficit”), then Administrative Agent may by notice to Seller require Seller to transfer to Administrative Agent for the benefit of Buyers cash in an amount at least equal to the Margin Deficit (such requirement, a “Margin Call”).
5.3.adding the following at the end thereof:
d.    If at any time the outstanding Purchase Price-Base plus Purchase Price-Incremental 1 of any Purchased Mortgage Loan which is subject to a Transaction is greater than the Asset Value-Base plus Asset Value-Incremental 1 of such Purchased 
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Mortgage Loan (a “Purchase Price Deficit-Base/Incremental 1”), and such Purchase Price Deficit-Base/Incremental 1 does not constitute a Margin Deficit, then the amount of such Purchase Price Deficit-Base/Incremental 1 shall be reallocated by the Administrative Agent and added to the Purchase Price-Incremental 2; provided that the Administrative Agent agrees to promptly notify (which for this purpose may be by electronic communication) the Seller after such reallocation; provided further that the failure to give such notice shall not affect the validity of such reallocation and application of such funds.
SECTION 6.Conditions Precedents. Section 10.b of the Existing Repurchase Agreement is hereby amended by adding the following at the end thereof:
(12)    Designated Mortgage Loan – Purchase Price Incremental 2.  With respect to each proposed Transaction for which the Purchase Price-Incremental 2 for a Designated Mortgage Loan will be funded, (i) no Disqualification Event shall have occurred and be continuing, (ii) the Purchase Price-Base and Purchase Price-Incremental 1 shall be fully drawn and (iii) the Purchase Price-Incremental 2 shall be fully drawn upon.
SECTION 7.Remedies Upon Default. Section 16.b of the Existing Repurchase Agreement is hereby amended by deleting such section in its entirety and replacing it with the following:
b.    If Administrative Agent exercises or is deemed to have exercised the option referred to in subparagraph (a) of this Section, (i) any Seller Party’s obligations in such Transactions to repurchase all Purchased Assets at the Repurchase Price therefor on the Repurchase Date determined in accordance with subparagraph (a) of this Section, shall thereupon become immediately due and payable, (ii) all Income paid after such exercise or deemed exercise shall be retained by Administrative Agent and applied, in Administrative Agent’s sole discretion, to the aggregate unpaid Repurchase Prices for all outstanding Transactions and any other amounts owing by any Seller Party hereunder and in accordance with the Administration Agreement (provided that any determination with respect to what portion of the Purchase Price is attributed to the Purchase Price-Base, Purchase Price-Incremental 1 or Purchase Price-Incremental 2 shall be made in accordance with the Purchase Price definition), and (iii) any Seller Party shall immediately deliver to Administrative Agent the Asset Files relating to any Purchased Assets subject to such Transactions then in any Seller Party’s possession or control.
SECTION 8.Servicing Tape.  Section 17.d of the Existing Repurchase Agreement is hereby amended by deleting such section in its entirety and replacing it with the following:
d.    Servicing Tape.  On the Reporting Date of each calendar month, Seller will furnish to Administrative Agent (i) an electronic Purchased Mortgage Loans performance data, including, without limitation, delinquency reports and volume information, broken down by product (i.e., delinquency, foreclosure and net charge off reports) and (ii) electronically, in a format mutually acceptable to Administrative Agent and Seller, servicing information, including, without limitation, those fields reasonably 
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requested by Administrative Agent from time to time, on a loan by loan basis and in the aggregate, with respect to the Purchased Mortgage Loans serviced by Seller or any Servicer for the month (or any portion thereof) prior to the Reporting Date.  In addition to the foregoing information on each Reporting Date, Seller will furnish to Administrative Agent such information upon the occurrence and continuation of an Event of Default.
SECTION 9.Single Agreement. Section 19 of the Existing Repurchase Agreement is hereby amended by deleting such section in its entirety and replacing it with the following:
Administrative Agent, Buyers and Seller acknowledge they have and will enter into each Transaction hereunder, in consideration of and in reliance upon the fact that, all Transactions hereunder constitute a single business and contractual relationship and have been made in consideration of each other.  Accordingly, each of Administrative Agent, Buyers and Seller agrees (i) to perform all of its obligations in respect of each Transaction hereunder, and that a default in the performance of any such obligations shall constitute a default by it in respect of all Transactions hereunder and (ii) that payments, deliveries and other transfers made by either of them in respect of any Transaction shall be deemed to have been made in consideration of payments, deliveries and other transfers in respect of any other Transactions hereunder, and the obligations to make any such payments, deliveries and other transfers may be applied against each other and netted. Notwithstanding anything in this Agreement to the contrary, in the event that (a) a Buyer is not an Affiliate of Administrative Agent, Alpine or CS Cayman (a “Non-Affiliate Buyer”), (b) an Event of Default shall have occurred and is continuing and (c) Administrative Agent provides written notice to the Seller to sever each Non-Affiliate Buyer’s Transactions (the “Non-Affiliate Transactions”) and treat such Non-Affiliate Transactions as separate Transactions under this Agreement (a “Severance Notice”), then Administrative Agent, Buyers and Seller acknowledge that each such Non-Affiliate Transaction shall be deemed a separate Transaction under a separate and distinct agreement with the same terms and conditions as set forth herein (each a “Non-Affiliate MRA”), and each such Non-Affiliate Buyer shall be deemed to be the administrative agent with respect to its respective Non-Affiliate Transactions under its respective Non-Affiliate MRA; provided, that Transactions owned by Administrative Agent, Alpine and CS Cayman or any respective Affiliate shall continue to be deemed a single Transaction with Administrative Agent serving as the administrative agent for Alpine, CS Cayman or any respective Affiliate, in each case, pursuant to the terms and conditions of this Agreement.
SECTION 10.Indemnification; Obligations.  Section 30.a of the Existing Repurchase Agreement is hereby amended by deleting such section in its entirety and replacing it with the following:
a.Each Seller Party agrees to hold Administrative Agent, Buyers and each of their respective Affiliates and their officers, directors, employees, agents and advisors (each, an “Indemnified Party”) harmless from and indemnify each Indemnified Party (and will reimburse each Indemnified Party as the same is incurred) against all liabilities, 
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losses, damages, judgments, costs and expenses (including, without limitation, reasonable fees and expenses of counsel) of any kind which may be imposed on, incurred by, or asserted against any Indemnified Party relating to or arising out of this Agreement, any Transaction Request, any Program Agreement or any transaction contemplated hereby or thereby (including, without limitation, (i) any such liabilities, losses, damages, judgments, costs and expenses directly arising from any acts or omissions of such party and (ii) any wire fraud or data or systems intrusions which causes Administrative Agent or Buyers to suffer any such direct liability, loss, damage, judgment, cost and/or expense), resulting from anything other than the Indemnified Party’s gross negligence or willful misconduct.  Each Seller Party also agrees to reimburse each Indemnified Party for all reasonable expenses in connection with the enforcement of this Agreement and the exercise of any right or remedy provided for herein, any Transaction Request and any Program Agreement, including, without limitation, the reasonable fees and disbursements of counsel.  Each Seller Party’s agreements in this Section 30 shall survive the payment in full of the Repurchase Price and the expiration or termination of this Agreement.  Each Seller Party hereby acknowledges that its obligations hereunder are recourse obligations of each Seller Party and are not limited to recoveries each Indemnified Party may have with respect to the Purchased Assets.  Each Seller Party also agrees not to assert any claim against Administrative Agent, each Buyer or any of its Affiliates, or any of their respective officers, directors, employees, attorneys and agents, on any theory of liability, for special, indirect, consequential or punitive damages arising out of or otherwise relating to the facility established hereunder, the actual or proposed use of the proceeds of the Transactions, this Agreement or any of the transactions contemplated thereby.  THE FOREGOING INDEMNITY AND AGREEMENT NOT TO ASSERT CLAIMS EXPRESSLY APPLIES, WITHOUT LIMITATION, TO THE NEGLIGENCE (BUT NOT GROSS NEGLIGENCE OR WILLFUL MISCONDUCT) OF THE INDEMNIFIED PARTIES.
SECTION 11.Confidentiality.  Section 32.a of the Existing Repurchase Agreement is hereby amended by deleting such section in its entirety and replacing it with the following:
a.This Agreement and its terms, provisions, supplements and amendments, and notices hereunder, are proprietary to Administrative Agent and Buyers and shall be held by each Seller Party in strict confidence and shall not be disclosed to any third party without the written consent of Administrative Agent except for (i) disclosure to such Seller Party’s direct and indirect Affiliates and Subsidiaries, attorneys or accountants, but only to the extent such disclosure is necessary and such parties agree to hold all information in strict confidence, (ii) disclosure required by law, rule, regulation or order of a court or other regulatory body, (iii) any of such information is in the public domain other than due to a breach of this covenant, (iv) disclosure to any approved hedge counterparty to the extent necessary to obtain any Interest Rate Protection Agreement or (v) any disclosures or filing required under Securities and Exchange Commission (“SEC”) or state securities’ law.  Notwithstanding the foregoing or anything to the contrary contained herein or in any other Program Agreement, the parties hereto may disclose to any and all Persons, without limitation of any kind, the federal, state and local 
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tax treatment of the Transactions, any fact relevant to understanding the federal, state and local tax treatment of the Transactions, and all materials of any kind (including opinions or other tax analyses) relating to such federal, state and local tax treatment and that may be relevant to understanding such tax treatment; provided that, except as set forth in the first sentence of this clause (a), such Seller Party may not disclose the name of or identifying information with respect to Administrative Agent and Buyers or any pricing terms (including, without limitation, the Purchase Price, Pricing Rate, Purchase Price Percentage, Asset Value, Maximum Value Amount and any other fees specified in the Pricing Side Letter) or other nonpublic business or financial information (including any sublimits and financial covenants) that is unrelated to the federal, state and local tax treatment of the Transactions and is not relevant to understanding the federal, state and local tax treatment of the Transactions, without the prior written consent of the Administrative Agent.
SECTION 12.Pool Subdivisions. The Existing Repurchase Agreement is hereby amended by adding the following at the end thereof:
44.  Pool Subdivisions
The Administrative Agent may from time to time deliver to Seller a Pool Subdivision Notice which notice shall identify a Pool of Purchased Mortgage Loans that shall be treated separately from the remaining Purchased Mortgage Loans (which remaining Purchased Mortgage Loans shall constitute another Pool).  The Administrative Agent may modify any such Pool Subdivision Notice from time to time to readjust the composition of the Pools identified therein.  Following delivery of a Pool Subdivision Notice, the calculations with respect to Price Differential (and all of the component calculations used in determining such calculation) shall be calculated separately on the basis of the Purchased Mortgage Loans comprising each Pool, which shall result in a separate Price Differential for each Pool.  For the avoidance of doubt, a Pool Subdivision Notice shall not (a) modify or otherwise affect the rights and obligations of the parties under the Program Agreements except as expressly contemplated in this Section 44; and (b) shall not be construed as a Severance Notice as contemplated by Section 19 of this Agreement.
SECTION 13.Conditions Precedent.  This Amendment shall become effective as of the date hereof (the “Amendment Effective Date”), subject to the satisfaction of the following conditions precedent:
13.1.Delivered Documents.  On the Amendment Effective Date, the Administrative Agent on behalf of Buyers shall have received the following documents, each of which shall be satisfactory to the Administrative Agent in form and substance:
(1)this Amendment, executed and delivered by the duly authorized officers of the Administrative Agent, Buyers, and the Seller; and
(2)such other documents as the Administrative Agent or counsel to the Administrative Agent may reasonably request.
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SECTION 14.Representations and Warranties.  The Seller hereby represents and warrants to the Administrative Agent and Buyers that it is in compliance with all the terms and provisions set forth in the Repurchase Agreement on Seller’s part to be observed or performed, and that no Event of Default has occurred or is continuing, and Seller hereby confirms and reaffirms the representations and warranties contained in Section 13 of the Repurchase Agreement as of the date hereof are true and correct in all material respects, except to the extent such representations relate to a date prior to the date hereof, in which case the representations and warranties are true and correct in all material respects as of such date.
SECTION 15.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.
SECTION 16.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 17.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.  Delivery of an executed counterpart of a signature page of this Amendment in a Portable Document Format (PDF) or by facsimile shall be effective as delivery of a manually executed original counterpart of this Amendment.  The parties agree that this Amendment, any addendum or amendment hereto or any other document necessary for the consummation of the transactions contemplated by this Amendment may be accepted, executed or agreed to through the use of an electronic signature in accordance with the E-Sign, UETA and any applicable state law.  Any document accepted, executed or agreed to in conformity with such laws will be binding on all parties hereto to the same extent as if it were physically executed and each party hereby consents to the use of any secure third party electronic signature capture service providers with appropriate document access tracking, electronic signature tracking and document retention as may be approved by the Administrative Agent in its sole discretion.
SECTION 18.GOVERNING LAW.  THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REFERENCE TO THE CHOICE OF LAW PROVISIONS THEREOF.
[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.
CREDIT SUISSE FIRST BOSTON MORTGAGE CAPITAL LLC, as Administrative Agent
By: /s/ Margaret Dellafera
Name:  Margaret Dellafera
Title:  Vice President
CREDIT SUISSE AG, Cayman Islands Branch, as a Buyer
By:  /s/ Margaret Dellafera        
Name:  Margaret Dellafera
Title:  Vice President
By: /s/ Ernest Calabrese        
Name:  Ernest Calabrese
Title:  Authorized Signatory

ALPINE SECURITIZATION LTD, as a Buyer, by Credit Suisse AG, New York Branch as Attorney-in-Fact 
By:  /s/ Elie Chau        
Name:  Elie Chau
Title:  Vice President
By:  /s/ Marcus DiBrito        
Name:  Marcus DiBrito
Title:  Vice President

Signature Page to Amendment No. 7 to Master Repurchase Agreement
LEGAL02/40320403v10

LOANDEPOT.COM, LLC, as Seller
By: /s/ Patrick Flanagan
Name: Patrick Flanagan
Title: Chief Financial Officer

Signature Page to Amendment No. 7 to Master Repurchase Agreement
LEGAL02/40320403v10Exhibit 4.1

 

SHARE
EXCHANGE AGREEMENT

 

This
Share Exchange Agreement (the “Agreement”) is entered into as of the 26th day of May 2021 (the “Effective
Date”), by and between Bit Digital, Inc., a corporation organized under the laws of the Cayman Islands (the “Company”),
with offices located at 33 Irving Place, New York, New York 10003 and Geney Development Limited, a corporation formed under the laws
of the British Virgin Islands, with offices located at 4th Floor, Waters Edge Building, Meridian Plaza, Road Town, Tortola
VG1110, British Virgin Islands (the “Holder”), with reference to the following facts:

 

A.
In accordance with the Resolutions of the Board of Directors of the Company (the “Board”) dated March 16, 2021, the
Board authorized the exchange of 1,000,000 Ordinary Shares, $.01 par value per share (the “Ordinary Shares”), held
by the Holder for 1,000,000 newly issued Preference Shares (the “Exchange”).

 

B.
On April 20, 2021, the Company’s shareholders, at its Annual General Meeting, approved the creation of a new class of preference
shares (the ”Preference Shares”); approved an amendment to the Company’s authorized share capital; approved
the amended and restated Memorandum and Articles of Association; and approval of the proposed repurchase of certain Ordinary Shares (those
of the Holder), collectively, the Shareholder Approvals.

 

C.
The Company has duly authorized the issuance to the Holder of a new senior class of Preference Shares consisting of 1,000,000 Preference
Shares in exchange for the Ordinary Shares;

 

D.
Each of the Company and the Holder desire to effectuate such Exchange on the basis and subject to the terms and conditions set forth
in this Agreement; and

 

E.
The Exchange of the Ordinary Shares for the Preference Shares is being made in reliance upon the exemption from registration provided
by Section 3(a)(9) of the Securities Act of 1933, as amended (the “Securities Act”).

 

NOW,
THEREFORE, in consideration of the foregoing premises and the mutual covenants hereinafter contained, the parties hereto agree as follows:

 

1. Exchange
of Securities. On the Effective Date, pursuant to Section 3(a)(9) of the Securities Act, the Holder hereby agrees to convey,
assign and transfer the Ordinary Shares to the Company in exchange for which the Company agrees to issue the Preference Shares to the
Holder as follows:

 

(a) In
exchange for the Ordinary Shares, on the date hereof the Company shall deliver or cause to be delivered to the Holder (or its designee)
the Preference Shares at the address for delivery set forth in the Preamble.

 

(b) The
Company shall authorize its transfer agent to notify the Company as soon as commercially practicable following the date hereof to cancel
and retire the Ordinary Shares. Immediately following the receipt of notice by the transfer agent to such notification, the Ordinary
Shares shall be deemed to have been cancelled.

 

     

     

    

 

(c) The
Company and the Holder shall execute and/or deliver such other documents and agreements as are customary and reasonably necessary to
effectuate the Exchange.

 

2. Representations
and Warranties.

 

(a) Company
Representation.

 

(i)
Company Status. The Company (i) is a Cayman Islands corporation duly organized, validly existing and in good standing under the
laws of the Cayman Islands; (ii) has all necessary corporate power and authority to own, operate or lease the properties and assets now
owned, operated or leased by the Company, as the case may be, and to carry on the business of the Company, as the case may be, as it
is now being conducted, and (iii) will be duly licensed or qualified and in good standing as a foreign corporation authorized to do business
in each jurisdiction wherein the character of the properties owned or leased by the Company, as the case may be, and/or the nature of
the activities conducted by the Company, as the case may be, makes such licensing or qualification necessary, except where the failure
to be so licensed or qualified and in good standing would not prevent the Company from performing any of its material obligations under
this Agreement and would not have a material adverse effect on the business, operations, financial condition or prospects of the Company
taken as a whole (a “Material Adverse Effect”).

 

(ii)
Capitalization. The capitalization of the Company, including its member classes, the number of Shares issued and outstanding,
the number of Shares reserved for issuance pursuant to any resolution of the Board of Directors (the “Board”) or agreements,
is set forth in the Company’s SEC reports.

 

(iii)
Undisclosed Liabilities. The Company does not have any liabilities, contingent or otherwise, other than (i) liabilities incurred
in the ordinary course of business, or (ii) as disclosed in the Company’s SEC reports.

 

(iv)
Authority and Enforceability. The Company has the corporate power and authority to execute and deliver this Agreement and
the other agreements and documents contemplated hereby (collectively, the “Transaction Documents”), and to carry out its
obligations hereunder and thereunder. The execution, delivery and performance by the Company of this Agreement and the other Transaction
Documents, and the consummation of the transactions contemplated hereby and thereby, have been duly authorized by all necessary action
on the part of the Company. This Agreement and the other Transaction Documents constitute the valid and legally binding obligation of
the Company enforceable against the Company in accordance with their respective terms, except as the same may be limited by bankruptcy,
insolvency, reorganization or other laws affecting the enforcement of creditors’ rights generally now or hereafter in effect and
subject to the application of equitable principles and the availability of equitable remedies.

 

    -2-

     

    

 

(v)
Consents and Approvals. The execution and delivery of this Agreement and the other Transaction Documents by the Company does not,
and the performance by the Company of its obligations hereunder and thereunder, will not, require any consent, approval, authorization
or other action by, or filing with or notification to, any governmental or regulatory authority, other than in connection with state
securities or “blue sky” laws (the “Blue Sky laws”), which have been duly filed, except where failure to obtain
such consent, approval, authorization or action, or to make such filing or notification, would not prevent the Company from performing
any of its material obligations under this Agreement or the other Transaction Documents and would not have a Material Adverse Effect
(as defined above).

 

(vi)
Litigation. There is no claim, litigation or administrative proceeding pending, or, to the Company’s actual and constructive
knowledge following due inquiry and investigation (“Knowledge”), threatened against the Company or any predecessor thereof,
or against any manager, member, officer, director, employee or consultant of the Company in connection with such person’s employment
therewith. The Company is not a party to or subject to the provisions of, any order, writ, injunction, judgment or decree of any court
or any nation or government (including, but not limited to, the Cayman Islands) or any federal, state, provincial or political subdivision
thereof or any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government,
including, without limitation, any stock exchange, securities market or self-regulatory organization (“Governmental Authority”).

 

(b) Holder
Representation.

 

(i) Organization;
Authority. The Holder is an entity duly organized, validly existing and in good standing under the laws of the jurisdiction of its
organization with the requisite power and authority to enter into and to consummate the transactions contemplated by this Agreement and
otherwise to carry out its obligations hereunder.

 

(ii) Reliance
on Exemptions. The Holder understands that the Preference Shares are being offered and exchanged in reliance on specific exemptions
from the registration requirements of United States federal and state securities laws and that the Company is relying in part upon the
truth and accuracy of, and the Holder’s compliance with, the representations, warranties, agreements, acknowledgments and understandings
of the Holder set forth herein in order to determine the availability of such exemptions and the eligibility of the Holder to acquire
the Preference Shares.

 

    -3-

     

    

 

(iii)
 Transfer or Resale. The Holder understands that: (i) the Preference Shares have not
been and are not being registered under the Securities Act or any state securities laws, and may not be offered for sale, sold, assigned
or transferred unless (A) subsequently registered thereunder, (B) the Holder shall have delivered to the Company (if requested by the
Company) an opinion of counsel, in a form reasonably acceptable to the Company, to the effect that such Preference Shares to be sold,
assigned or transferred may be sold, assigned or transferred pursuant to an exemption from such registration, or (C) the Holder provides
the Company with reasonable assurance that such Preference Shares can be sold, assigned or transferred pursuant to Rule 144 or Rule 144A
promulgated under the Securities Act (or a successor rule thereto) (collectively, “Rule 144”); (ii) any sale of the
Ordinary Shares underlying the Preference Shares (the “Underlying Shares”) made in reliance on Rule 144 may be made
only in accordance with the terms of Rule 144, and further, if Rule 144 is not applicable, any resale of the Preference Shares under
circumstances in which the seller (or the Person through whom the sale is made) may be deemed to be an underwriter (as that term is defined
in the Securities Act) may require compliance with some other exemption under the Securities Act or the rules and regulations of the
SEC promulgated thereunder; and (iii) neither the Company nor any other Person is under any obligation to register the Preference Shares
or Underlying Ordinary Shares under the Securities Act or any state securities laws or to comply with the terms and conditions of any
exemption thereunder.

 

(iv) No
Governmental Review. The Holder understands that no United States federal or state agency or any other government or governmental
agency has passed on or made any recommendation or endorsement of this Agreement or the fairness or suitability of the Preference Shares
nor have such authorities passed upon or endorsed the merits of the offering of the Preference Shares.

 

(v) Validity;
Enforcement. This Agreement has been duly and validly authorized, executed and delivered on behalf of the Holder and shall constitute
the legal, valid and binding obligations of the Holder enforceable against the Holder in accordance with their respective terms, except
as such enforceability may be limited by general principles of equity or to applicable bankruptcy, insolvency, reorganization, moratorium,
liquidation and other similar laws relating to, or affecting generally, the enforcement of applicable creditors’ rights and remedies.

 

(vi) No
Conflicts. The execution, delivery and performance by the Holder of this Agreement, and the consummation by the Holder of the transactions
contemplated hereby will not (A) result in a violation of the organizational documents of the Holder or (B) conflict with, or constitute
a default (or an event which with notice or lapse of time or both would become a default) under, or give to others any rights of termination,
amendment, acceleration or cancellation of, any agreement, indenture or instrument to which the Holder is a party, or (C) result in a
violation of any law, rule, regulation, order, judgment or decree (including federal and state securities laws) applicable to the Holder,
except in the case of clauses (B) and (C) above, for such conflicts, defaults, rights or violations which would not, individually or
in the aggregate, reasonably be expected to have a material adverse effect on the ability of the Holder to perform its obligations hereunder.

 

(vii) Investment
Risk; Sophistication. The Holder has such knowledge, sophistication, and experience in business and financial matters so as to be
capable of evaluation of the merits and risks of the prospective investment in the Preference Shares, and has so evaluated the merits
and risk of such investment.

 

    -4-

     

    

 

(viii) Ownership
of Ordinary Shares. The Holder owns the Ordinary Shares free and clear of any Liens (other than the obligations pursuant to this
Agreement, liens in the ordinary course of business (e.g. bone fide margin account liens) and applicable securities laws).

 

3. Disclosure
of Transaction. The Company shall file a Current Report on Form 6-K describing the terms of the transactions contemplated hereby
in the form required by the 1934 Act and attaching this Agreement, to the extent they are required to be filed under the 1934 Act, that
have not previously been filed with the SEC by the Company (including, without limitation, this Agreement) as exhibits to such filing
(including all attachments, the “6-K Filing”). From and after the filing of the 6-K Filing, the Company shall have
disclosed all material, non-public information (if any) provided up to such time to the Holder by the Company or any of its Subsidiaries
or any of their respective officers, directors, employees, affiliates or agents, that is not disclosed in the 6-K Filing.

 

4. No
Integration. None of the Company, its Subsidiaries, any of their affiliates, or any Person acting on their behalf shall, directly
or indirectly, make any offers or sales of any security (as defined in the Securities Act) or solicit any offers to buy any security
or take any other actions, under circumstances that would require registration of any of the Preference Shares under the Securities Act
or cause this offering of the Preference Shares to be integrated with such offering or any prior offerings by the Company for purposes
of Regulation D under the Securities Act.

 

5. Holding
Period. For the purposes of Rule 144, the Company acknowledges that the holding period of the Preference Shares may be tacked
onto the holding period of the Ordinary Shares, and the Company agrees not to take a position contrary to this Section 5.

 

6. Listing.
The Company shall promptly secure the listing or designation for quotation (as applicable) of all of the Preference Shares upon the Principal
Market (subject to official notice of issuance) and shall maintain such listing of all the Preference Shares from time to time. The Company
shall maintain the Ordinary Shares’ authorization for quotation on the Principal Market. Neither the Company nor any of its Subsidiaries
shall take any action which would be reasonably expected to result in the delisting or suspension of the Ordinary Shares on the Principal
Market. The Company shall pay all fees and expenses in connection with satisfying its obligations under this Section 6.

 

7. Effective
Date. Except as otherwise provided herein, this Agreement shall be deemed effective as of such date as the Company and the Holder
shall have duly executed and delivered this Agreement (the “Effective Date”).

 

8. No
Commissions. Neither the Company nor the Holder has paid or given, or will pay or give, to any person, any commission, fee or
other remuneration, directly or indirectly, in connection with the transactions contemplated by this Agreement.

 

9. Termination.
Notwithstanding anything contained in this Agreement to the contrary, if the  Company does not
deliver the Preference Shares to the Holder in accordance with Section 1 hereof, then, at the election of the Holder delivered in writing
to the Company at any time after the fifth (5th) business day immediately following the date of this Agreement, this Agreement shall
be terminated and be null and void ab initio and the Ordinary Shares shall not be cancelled hereunder and shall remain outstanding
as if this Agreement never existed.

 

10. Notices.
All notices, requests, demands and other communications to any party shall be in writing to the address indicated in the Preamble
to the Agreement, or to any other address provided by either party in writing. Written notice is effective (i) if given by fax, when
the fax is successfully transmitted to the fax number specified; (ii) if given by electronic communication, when successfully received
by recipient; (iii) if given by certified mail, 72 hours after such communication is deposited in the mails with first class postage
prepaid, properly addressed or, (iv) if given by any other means, when delivered at the address specified herein.

 

    -5-

     

    

 

11. Miscellaneous

 

(a) Governing
Law. This Agreement shall be governed in all respects by the laws of the State of New York without giving effect to the conflict
of laws rules. Seller and Buyer agree that any and all actions to interpret or enforce the provisions of this Agreement and any other
documents referred to in this Agreement shall be brought in the courts of the State of New York or the federal courts of the United States
of America located in New York, New York.

 

(b) Merger.
This Agreement supersedes any prior agreements made between the parties relative to the subject matter contained herein.

 

(c) Amendment.
This Agreement may not be modified or amended except by a writing signed by each party to this Agreement.

 

(d) Binding
Effect. This Agreement is binding upon and will inure to the benefit of the Company and the Holder and their respective heirs,
successors and assigns.

 

(e) Captions.
All captions are inserted for convenience only and shall not be given any legal effect.

 

(f) Validity.
In the event that any provision of this Agreement is held to be void or invalid, the remainder of this Agreement will remain valid and
binding.

 

(g) Counterparts.
This Agreement may be executed in any number of counterparts each of which is deemed and original, but all of which constitutes the same
instrument.

 

[The
remainder of the page is intentionally left blank]

 

    -6-

     

    

 

IN
WITNESS WHEREOF, Holders and the Company have executed this Agreement as of the date set forth on the first page of this Agreement.

 

	 	COMPANY:
	 	BIT DIGITAL, INC.
	 	 
	 	By:	/s/ Bryan Bullett
	 	Name:	Bryan Bullett
	 	Title: 	Chief Executive Officer

 

IN
WITNESS WHEREOF, Holders and the Company have executed this Agreement as of the date set forth on the first page of this Agreement.

 

	 	HOLDER:
	 	 
	 	GENEY DEVELOPMENT LIMITED
	 	 
	 	By:	/s/ Erke Huang
	 	Name:	Erke Huang
	 	Title:	President

 

 

-7-

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