Exhibit 10.15
 Execution  Copy
 COOPERATION AGREEMENT
 THIS COOPERATION AGREEMENT Agreement Company Doral Holdings Doral LP Doral GP
 Common Stock Exhibit A Certificate of
Designations, Preferred Stock Conversion Shares Shares Non-Contingent Tranche Contingent Tranche
 FDIC
 Exhibit B Stock Purchase Agreement
 Conversion
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NYSE Conversion Resolutions
 Doral Holdings Shares
  Securityholders and Registration Rights
Agreement Stockholder Rights
  provided
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Definitions
 Advisory Agreement
 Affiliate
 Agreement
 Business Day
 Common Stock
 Company
 Contingent Tranche
 Control Controlling Controlled
 Conversion
 Conversion Resolutions
 Conversion Shares
 D&O Insurance
 Dissolution Effective Time
 Dissolution Transactions
 Doral Holdings
 Doral Holdings Shares
 Doral LP
 FDIC
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Governmental Authority
 Holdings Parties
 HSR Act
 Losses
 Majority in Interest of the Purchasers
 Managing Members
 Non-Contingent Tranche
 NYSE
 Person
 Preferred Stock
 Securityholders and Registration Rights Agreement
 Shares
 Stock Purchase Agreement
 Stockholder Rights
 Taxes
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Representations and Warranties of the Holdings Parties
 Authorization; Validity of Agreement
 No Conflicts
 Ownership
 Representations and Warranties of the Company
 Authorization; Validity of Agreement
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No Conflicts
 Transaction Agreements
 Allocation
 
 Voting
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Prohibition on Transfers, Other Actions th
 Waiver of Stockholder Rights
 No Right to Step-Down Amounts th
 Liquidation and Dissolution of Doral Holdings and Doral LP th provided however
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Securityholders and Registration Rights Agreement; Registration
Statement provided provided
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Indemnification by the Company Loss Losses Regulatory Filings Dissolution
Transactions provided
 [
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Conduct of Indemnification Proceedings provided provided
 D&O Insurance Dissolution Effective Time D&O Insurance
 Indemnification Primary Responsibility of the Company
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Effectiveness; Termination
 provided
 Expenses Advisory Agreement
 No Ownership Interest
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Notice
 (a)
    
    if to the Company, to:Doral Financial Corporation1451 Franklin D. Roosevelt AvenueSan Juan, Puerto Rico 00920-2717Attention: Enrique R. UbarriFacsimile: (787) 474-8014with a copy to:Cleary Gottlieb Steen & Hamilton LLPOne Liberty PlazaNew York, NY 10006Attention: Victor I. Lewkow; Leslie N. SilvermanFacsimile: (212) 225-3999(b)
    
    if to a Holdings Party, to:Doral Holdings Delaware, LLCc/o Irving Place Capital277 Park Avenue, 39th FloorNew York, NY 10172Attention: David King; Josh NeumanFacsimile: (212) 551-4541with a copy (which shall not constitute notice) to:Simpson Thacher & Bartlett LLP425 Lexington AvenueNew York, N.Y. 10017Attention: Ellen PattersonFacsimile: (212) 455-2502
 Interpretation
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Counterparts
 Concerning the Third Party Beneficiaries
 Entire Agreement
 Governing Law; Venue
 Amendment; Waiver; Certain Actions Following Dissolution Transactions provided however
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Specific Enforcement
 Severability
 Further Assurances
 Successors and Assigns;
 Remainder of this page intentionally left blank
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DORAL FINANCIAL CORPORATIONBy:Name:Title: DORAL HOLDINGS DELAWARE, LLCBy:
    Doral Holdings L.P., its managing member By:
    Doral GP Ltd., its general partner ByName:Title: DORAL HOLDINGS L.P.By:
    Doral GP Ltd, its general partner By:Name:Title: DORAL GP LTDBy:Name:Title:




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