SEC Contract Filing

Filing Date: 2016-01-21

Document Content:
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<TYPE>EX-10.8
<SEQUENCE>9
<FILENAME>d126970dex108.htm
<DESCRIPTION>EX-10.8
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<TITLE>EX-10.8</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.8 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">SEVENTH AMENDMENT TO </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">AMENDED AND
RESTATED </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">MASTER REPURCHASE AGREEMENT </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">THIS SEVENTH AMENDMENT TO AMENDED AND RESTATED MASTER REPURCHASE AGREEMENT (this &#147;Amendment&#148;), dated as of January&nbsp;18, 2016
(the &#147;Effective Date&#148;), is made and entered into among NVR MORTGAGE FINANCE, INC., a Virginia corporation (the &#147;Seller&#148;), U.S. BANK NATIONAL ASSOCIATION, as agent (in such capacity, the &#147;Agent&#148;) and a Buyer, and the
other Buyers (the &#147;Buyers&#148;). </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">RECITALS </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A. The Seller and the Buyers are parties to an Amended and Restated Master Repurchase Agreement dated as of August&nbsp;2, 2011 as amended by
a First Amendment to Amended and Restated Master Repurchase Agreement dated as of August&nbsp;1, 2012, a Second Amendment to Amended and Restated Master Repurchase Agreement dated as of November&nbsp;13, 2012, a Third Amendment to Amended and
Restated Master Repurchase Agreement dated as of November&nbsp;29, 2012, a Fourth Amendment to Amended and Restated Master Repurchase Agreement dated as of July&nbsp;31, 2013, a Fifth Amendment to Amended and Restated Master Repurchase Agreement
dated as of July&nbsp;30, 2014 and a Sixth Amendment to Amended and Restated Master Repurchase Agreement dated as of July&nbsp;29, 2015 (the &#147;Repurchase Agreement&#148;); and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">B. The Seller and the Buyers now desire to amend certain provisions of the Repurchase Agreement as set forth herein. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">AGREEMENT </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In consideration of
the premises herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, all parties hereto agree as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>Section&nbsp;1. <U>Definitions</U></B>. Capitalized terms used and not otherwise defined in this Amendment have the meanings specified in
the Repurchase Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>Section&nbsp;2. <U>Amendments</U></B>. The Repurchase Agreement is hereby amended as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.1 <U>Definitions</U>. Section&nbsp;1.2 of the Repurchase Agreement is hereby amended as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) The definitions of &#147;<I>Anti-Corruption Laws</I>&#148;, &#147;<I>Approved Non-Conforming Investor</I>&#148;,
&#147;<I>FHA Loans Sublimit</I>&#148;, &#147;<I>Ginnie Mae</I>&#148;, &#147;<I>Incremental Commitment</I>&#148;, &#147;<I>Incremental Committed Sum</I>&#148;, &#147;<I>Maximum Incremental Commitment Amount</I>&#148;, &#147;<I>Mortgage Loan
(USBHM)</I>&#148;, &#147;<I>OFAC</I>&#148;, &#147;<I>PATRIOT Act</I>&#148;, &#147;<I>Sanctioned Country</I>&#148;, &#147;<I>Sanctioned Person</I>&#148;, &#147;<I>Sanctions</I>&#148;, &#147;<I>State Housing Bond Mortgage Loan</I>&#148;,
&#147;<I>State Housing Bond Mortgage Loan Sublimit</I>&#148;, &#147;<I>USBHM</I>&#148;, </P>

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and &#147;<I>USBHM Loans Sublimit</I>&#148; are added in their respective entireties in appropriate alphabetical order as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<I>Anti-Corruption Laws</I>&#148; means all laws, rules, and regulations of any jurisdiction applicable to the Seller or
its Subsidiaries, if any, from time to time concerning or relating to bribery or corruption. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<I>Approved
Non-Conforming Investor</I>&#148; means any investor approved by the Buyer in writing as an Approved Non-Conforming Investor. The Approved Non-Conforming Investors as of the date hereof are identified as such on <U>Schedule&nbsp;AI</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<I>FHA Loans Sublimit</I>&#148; is defined in the table in <U>Section&nbsp;4.2</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<I>Ginnie Mae</I>&#148; means the Government National Mortgage Association and any successor. </P>
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