SEC Contract Filing

Filing Date: 2015-03-02

Document Content:
<DOCUMENT>
<TYPE>EX-10.23
<SEQUENCE>3
<FILENAME>exhibit1023-guarantyarns.htm
<DESCRIPTION>EXHIBIT 10.23
<TEXT>
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<a name="s21C280995B09124473E584868399AD40"></a><div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><br><div style="line-height:120%;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Exhibit 10.23</font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">GUARANTY</font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">This </font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">GUARANTY</font><font style="font-family:inherit;font-size:11pt;">&#32;(the &#8220;Guaranty&#8221;), dated as of December 22, 2014, made by Altisource Residential Corporation</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">, </font><font style="font-family:inherit;font-size:11pt;">a corporation organized under the laws of Maryland with principal offices at 402 Strand Street, Frederiksted, VI 00840 (the &#8220;Guarantor&#8221;) is made in favor of Credit Suisse Securities (USA) LLC (the &#8220;Beneficiary&#8221;).</font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">RECITALS</font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Guarantor is a beneficial owner of ARNS, Inc., a corporation organized under the laws of Delaware (&#8220;Counterparty&#8221;). Counterparty and Beneficiary have entered into a Master Repurchase Agrement, dated as of December 22, 2014 (as amended, supplemented or modified from time to time, the &#8220;Agreement&#8221;). Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to them in the Agreement.</font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Pursuant to the Agreement,</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">&#32;</font><font style="font-family:inherit;font-size:11pt;">&#32;the Counterparty is required to provide the Beneficiary with a guaranty duly executed by the Guarantor and this Guaranty is being delivered in satisfaction of such requirement.</font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Pursuant to the Agreement and as an inducement to the Beneficiary to enter into the Agreement and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Guarantor agrees as follows:</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">1. </font><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">Guaranty</font><font style="font-family:inherit;font-size:11pt;">. The Guarantor hereby irrevocably and unconditionally guarantees (as primary obligor and not merely as surety) to the Beneficiary, its successors and permitted assigns: (i) that all amounts payable (now or hereafter) by the Counterparty arising out of or in connection with the Agreement will be duly and punctually paid, in accordance with its terms, whether due on a scheduled payment date or earlier by reason of early termination thereof or otherwise (as to which this Guaranty shall be of payment and not of collection) and (ii) that all delivery obligations due (now or hereafter) of the Counterparty arising out of or in connection with the Agreement, or under any and all Transactions and Confirmations will be duly and punctually performed in accordance with their terms, whether due on a scheduled payment date or earlier by reason of early termination thereof or otherwise (all of the foregoing payment and delivery obligations (whether actual or contingent) of the Counterparty being the &#8220;Guaranteed Obligations&#8221;).</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:in