exv10w25



 







Exhibit 10.25




AMENDMENT NUMBER EIGHT

to the

Second Amended and Restated Master Loan and Security Agreement

dated as of June 27, 2005

by and among

NEW CENTURY MORTGAGE CORPORATION

NC CAPITAL CORPORATION

NEW CENTURY FINANCIAL CORPORATION

and

CITIGROUP GLOBAL MARKETS REALTY CORP.




          This AMENDMENT NUMBER EIGHT (this “Amendment Number Eight”) is made this 31st day of
July, 2006, among NEW CENTURY MORTGAGE CORPORATION, having an address at 18400 Von Karman, Suite
1000, Irvine, California 92612 (“NC Mortgage”), NC CAPITAL CORPORATION, having an address
at 18400 Von Karman, Suite 1000, Irvine, California 92612 (“NC Capital”), NEW CENTURY
FINANCIAL CORPORATION, having an address at 18400 Von Karman, Suite 1000, Irvine, California 92612
(“NC Financial”) and CITIGROUP GLOBAL MARKETS REALTY CORP., having an address at 390
Greenwich Street, New York, New York 10013 (“Citigroup”) to the SECOND AMENDED & RESTATED
MASTER LOAN AND SECURITY AGREEMENT, dated as of June 27, 2005, among NC Mortgage, NC Capital, NC
Financial and Citigroup, as amended (the “Agreement”).




RECITALS




          WHEREAS, the parties have agreed to amend the Agreement to extend the Maturity Date as more
expressly set forth below;




          WHEREAS, as of the date of this Amendment Number Eight, each of NC Mortgage, NC Capital and NC
Financial represents to Citigroup that it is in compliance with all of the representations and
warranties and all of the affirmative and negative covenants set forth in the Agreement and the
Loan Documents.




          NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, and of the mutual covenants herein contained, the parties hereto hereby agree
as follows:




          SECTION 1. Effective as of July 31, 2006, the Agreement shall be amended as follows:




          (a) Section 1.01 of the Agreement is hereby amended by substituting “August 1, 2006” for “July
31, 2006” in the definition of “Maturity Date” thereof.




          SECTION 2. Fees and Expenses. NC Capital agrees to pay to Citigroup all fees and out
of pocket expenses incurred by Citigroup in connection with this Amendment Number Eight (including
all reasonable fees and out of pocket costs and expenses of Citigroup’s legal counsel incurred in
connection with this Amendment Number Eight), in accordance with Section 11.03(b) of the Agreement.




 









 








          SECTION 3. Defined Terms. Any terms capitalized but not otherwise defined herein
shall have the respective meanings set forth in the Agreement.




          SECTION 4. Representations. In order to induce Citigroup to execute and deliver this
Amendment Number Eight, NC Capital, NC Mortgage and NC Financial hereby represent to Citigroup that
as of the date hereof, after giving effect to this Amendment Number Eight, each of NC Capital, NC
Mortgage and NC Financial is in full compliance with all of the terms and conditions of the
Agreement and no Event of Default or material adverse change has occurred under the Agreement.




          SECTION 5. Limited Effect. This Amendment Number Eight shall become effective upon
the execution hereof by the parties hereto. Except as expressly amended and modified by this
Amendment Number Eight, the Agreement shall continue in full force and effect in accordance with
its terms. Reference to this Amendment Number Eight need not be made in the Agreement or any other
instrument or document executed in connection therewith, or in any certificate, letter or
communication issued or made pursuant to, or with respect to, the Agreement, any reference in any
of such items to the Agreement being sufficient to refer to the Agreement as amended hereby.




          SECTION 6. GOVERNING LAW. THIS AMENDMENT NUMBER EIGHT SHALL BE CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF NEW YORK AND THE OBLIGATIONS, RIGHTS, AND REMEDIES OF THE PARTIES
HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS WITHOUT REGARD TO CONFLICT OF LAWS
DOCTRINE APPLIED IN SUCH STATE (OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW).




          SECTION 7. Counterparts. This Amendment Number Eight 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.




[SIGNATURE PAGE FOLLOWS]




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          IN WITNESS WHEREOF, Citigroup, NC Capital, NC Mortgage and NC Financial have caused this
Amendment Number Eight to be executed and delivered by their duly authorized officers as of the day
and year first above written.




	 	 	 	 	 	 	 
	 	 	CITIGROUP GLOBAL MARKETS REALTY CORP.  
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Bobbie Theivakumaran	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Bobbie Theivakumaran	 	 
	 	 	Title:   Authorized Agent	 	 
	 
	 	 	 	 	 	 
	 	 	NC CAPITAL CORPORATION
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Karl Weiss	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Karl Weiss	 	 
	 	 	Title:   SVP	 	 
	 
	 	 	 	 	 	 
	 	 	NEW CENTURY MORTGAGE CORPORATION
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Karl Weiss	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Karl Weiss	 	 
	 	 	Title:   SVP	 	 
	 
	 	 	 	 	 	 
	 	 	NEW CENTURY FINANCIAL CORPORATION
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Kevin Cloyd	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Kevin Cloyd	 	 
	 	 	Title:   EVP	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Brad A. Morrice	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Brad A. Morrice	 	 
	 	 	Title:   President and CEO