Document:

EX-4.4

 Exhibit 4.4 

Execution Version 

SECOND SUPPLEMENTAL INDENTURE AND GUARANTEE 

This Second Supplemental Indenture and Guarantee, dated as of October 13, 2015 (this “Supplemental Indenture” or
“Guarantee”), among Eldridge Pte. Ltd., a corporation organized and existing under the laws of Singapore (the “New Guarantor”), McDermott International, Inc., as the Issuer, each existing Guarantor under the
Indenture referred to below, Wells Fargo Bank, National Association, as Trustee, paying agent and registrar under such Indenture and Wells Fargo Bank, National Association, as Collateral Agent under such Indenture. 

W I T N E S S E T H: 

WHEREAS, the Issuer, the Guarantors, the Trustee and the Collateral Agent have heretofore executed and delivered an Indenture, dated as
of April 16, 2014 (as amended, supplemented, waived or otherwise modified, the “Indenture”), providing for the issuance of an unlimited aggregate principal amount of 8.000% Senior Secured Notes due 2021 of the Issuer
(the “Notes”); 
 WHEREAS, Section 4.17 and Article X of the Indenture provides that the Issuer will cause
any Restricted Subsidiary that guarantees any Indebtedness of the Issuer or any Guarantor under a Credit Facility to execute and deliver a Guarantee pursuant to which such Restricted Subsidiary will unconditionally Guarantee, on a joint and several
basis, the full and prompt payment of the principal of, premium, if any, and interest on the Notes and all other obligations of the Issuer under the Indenture on the same terms and conditions as those set forth in the Indenture; and 

WHEREAS, pursuant to Section 9.1(4) of the Indenture, the Trustee, the Collateral Agent, the Issuer and the Guarantors are authorized to
execute and deliver this Supplemental Indenture to amend the Indenture, without the consent of any Holder, to add an additional Guarantor. 

NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged,
the New Guarantor, the Issuer, the existing Guarantors, the Trustee and the Collateral Agent mutually covenant and agree for the equal and ratable benefit of the Holders as follows: 

ARTICLE I 
 Definitions 

SECTION 1.1 Defined Terms. As used in this Supplemental Indenture, capitalized terms defined in the Indenture or in the preamble
or recitals thereto are used herein as therein defined. The words “herein,” “hereof” and “hereby” and other words of similar import used in this Supplemental Indenture refer to this Supplemental Indenture as a whole and
not to any particular section hereof. 

 ARTICLE II 

Agreement to be Bound; Guarantee 

SECTION 2.1 Agreement to be Bound. The New Guarantor hereby becomes a party to the Indenture as a Guarantor and as such shall have
all of the rights and be subject to all of the obligations and agreements of a Guarantor under the Indenture. The New Guarantor agrees to be bound by all of the provisions of the Indenture applicable to a Guarantor and to perform all of the
obligations and agreements of a Guarantor under the Indenture. 
 SECTION 2.2 Guarantee. The New Guarantor hereby fully,
unconditionally and irrevocably guarantees, as primary obligor and not merely as a surety, jointly and severally with each other Guarantor, to each Holder and the Trustee, the full and punctual payment when due, whether at maturity, by acceleration,
by redemption or otherwise, of the Obligations of the Issuer pursuant to the Notes and the Indenture in accordance with Section 10.1(a) of the Indenture. 

ARTICLE III 
 Miscellaneous

 SECTION 3.1 Notices. All notices and other communications to the New Guarantor shall be given as provided in the
Indenture to the New Guarantor, at its address set forth below, with a copy to the Issuer as provided in the Indenture for notices to the Issuer. 

c/o McDermott International, Inc. 

P.O. Box 940519 
 Houston, Texas
77094-7519 
 Facsimile: (281) 870-5755 

Attention: Liane K. Hinrichs 
 With a copy to:

 Baker Botts L.L.P. 
 One
Shell Plaza 
 910 Louisiana 

Houston, Texas 77002-4995 

Facsimile: (713) 229-7738 

Attention: Ted W. Paris 

SECTION 3.2 Parties. Nothing expressed or mentioned herein is intended or shall be construed to give any Person, firm or
corporation, other than the Holders and the Trustee, any legal or equitable right, remedy or claim under or in respect of this Supplemental Indenture or the Indenture or any provision herein or therein contained. 

SECTION 3.3 Governing Law. This Supplemental Indenture shall be governed by, and construed in accordance with, the laws of the
State of New York. 
 SECTION 3.4 Service of Process. Each of the Issuer and each non-U.S. Guarantor (including the New
Guarantor) hereby appoints McDermott, Inc. as its agent for service of process in any suit, action or proceeding with respect to this Supplemental Indenture, the Indenture, the Notes or the Guarantees and for actions brought under federal or state
securities laws brought in any federal or state court located in The City of New York. 

  
 2 

 SECTION 3.5 Severability Clause. In case any provision in this Supplemental Indenture
shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby and such provision shall be ineffective only to the extent of such invalidity,
illegality or unenforceability. 
 SECTION 3.6 Ratification of Indenture; Supplemental Indentures Part of Indenture; No Liability of
Trustee. Except as expressly amended hereby, the Indenture is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect. This Supplemental Indenture shall form a part of the
Indenture for all purposes, and every Holder of a Note heretofore or hereafter authenticated and delivered shall be bound hereby. Neither the Trustee nor the Collateral Agent makes any representation or warranty as to the validity or sufficiency of
this Supplemental Indenture or the New Guarantor’s Guarantee 
 SECTION 3.7 Counterparts. The parties hereto may sign one
or more copies of this Supplemental Indenture in counterparts, all of which together shall constitute one and the same agreement. 

SECTION 3.8 Headings. The headings of the Articles and the sections in this Supplemental Indenture are for convenience of
reference only and shall not be deemed to alter or affect the meaning or interpretation of any provisions hereof. 
 [Signatures on
following page] 

  
 3 

 IN WITNESS WHEREOF, the parties hereto have caused this Second Supplemental Indenture and
Guarantee to be duly executed as of the date first above written. 
  

			
	MCDERMOTT INTERNATIONAL, INC.
		
	By:	 	 /s/ KATHERINE A. MURRAY

	Name:	 	Katherine A. Murray
	Title:	 	Vice President, Treasurer
	
	NEW GUARANTOR:
	
	ELDRIDGE PTE. LTD.
		
	By:	 	 /s/ JAMES P. GOODWIN

	Name:	 	James P. Goodwin
	Title:	 	Authorized Person

  
 Signature Page to 

Second Supplemental Indenture and Guarantee 

 
			
	EXISTING GUARANTORS:
	
	 CHARTERING COMPANY (SINGAPORE) PTE. LTD.

	 DEEPSEA (AMERICAS) LLC

	 DEEPSEA (EUROPE) LIMITED

	 DEEPSEA (UK) LIMITED

	 DEEPSEA GROUP LIMITED

	 DEEPSEA (US) INCORPORATED

	 EASTERN MARINE SERVICES, INC.

	 GLOBAL ENERGY - MCDERMOTT LIMITED

	 HYDRO MARINE SERVICES, INC.

	 J. RAY HOLDINGS, INC.

	 INTERNATIONAL VESSELS LTD.

	 J. RAY MCDERMOTT (AUST.) HOLDING PTY. LIMITED

	 J. RAY MCDERMOTT CANADA HOLDING, LTD.

	 J. RAY MCDERMOTT CANADA, LTD.

	 J. RAY MCDERMOTT (CASPIAN), INC.

	 J. RAY MCDERMOTT ENGINEERING SERVICES PRIVATE LIMITED

	 J. RAY MCDERMOTT FAR EAST, INC.

	 J. RAY MCDERMOTT HOLDINGS, LLC

	 J. RAY MCDERMOTT, S.A.

	 J. RAY MCDERMOTT INTERNATIONAL, INC.

	 J. RAY MCDERMOTT KAZAKHSTAN LIMITED LIABILITY PARTNERSHIP

	 J. RAY MCDERMOTT LOGISTIC SERVICES PVT. LIMITED

	 J. RAY MCDERMOTT (NORWAY), AS

	 J. RAY MCDERMOTT (QINGDAO) PTE. LTD.

	 J. RAY MCDERMOTT SOLUTIONS, INC.

	 J. RAY MCDERMOTT TECHNOLOGY, INC.

	 J. RAY MCDERMOTT UNDERWATER SERVICES, INC.

		
	By:	 	 /s/ JAMES P. GOODWIN

	Name:	 	James P. Goodwin
	Title:	 	Assistant Treasurer

  
 Signature Page to 

Second Supplemental Indenture and Guarantee 

 
			
	 J. RAY MCDERMOTT WEST AFRICA HOLDINGS, INC.

	 J. RAY MCDERMOTT WEST AFRICA, INC.

	 MALMAC SDN. BHD.

	 MCDERMOTT ASIA PACIFIC PTE. LTD.

	 MCDERMOTT AUSTRALIA PTY. LTD.

	 MCDERMOTT BLACKBIRD HOLDINGS, LLC

	 MCDERMOTT CASPIAN CONTRACTORS, INC.

	 MCDERMOTT EASTERN HEMISPHERE, LTD.

	 MCDERMOTT ENGINEERING, LLC

	 MCDERMOTT FAR EAST, INC.

	 MCDERMOTT FINANCE L.L.C.

	 MCDERMOTT GULF OPERATING COMPANY, INC.

	 MCDERMOTT, INC.

	 MCDERMOTT INTERNATIONAL INVESTMENTS CO., INC.

	 MCDERMOTT INVESTMENTS, LLC

	 MCDERMOTT INTERNATIONAL MANAGEMENT, S. DE RL.

	 MCDERMOTT INTERNATIONAL TRADING CO., INC.

	 MCDERMOTT INTERNATIONAL VESSELS, INC.

	 MCDERMOTT MARINE CONSTRUCTION LIMITED

	 MCDERMOTT MIDDLE EAST, INC.

	 MCDERMOTT OFFSHORE SERVICES COMPANY, INC.

	 MCDERMOTT OLD JV OFFICE, INC.

	 MCDERMOTT OVERSEAS, INC.

	 MCDERMOTT SUBSEA, INC.

	 MCDERMOTT SUBSEA ENGINEERING, INC.

	 MCDERMOTT TRADE CORPORATION

	 NORTH ATLANTIC VESSEL, INC.

	 OPI VESSELS, INC.

	 SABINE RIVER REALTY, INC.

	 SPARTEC, INC.

		
	By:	 	 /s/ JAMES P. GOODWIN

	Name:	 	James P. Goodwin
	Title:	 	Assistant Treasurer

  
 Signature Page to 

Second Supplemental Indenture and Guarantee 

 
			
	 DEEPSEA (HOLLAND) B.V.

	 J. RAY MCDERMOTT INVESTMENTS B.V.

	 J. RAY MCDERMOTT (LUXEMBOURG), S.AR.L.

	 J. RAY MCDERMOTT (NIGERIA) LIMITED

	 MCDERMOTT HOLDINGS (U.K.) LIMITED

	 MCDERMOTT INTERNATIONAL B.V.

	 MCDERMOTT INTERNATIONAL MARINE INVESTMENTS N.V.

	 MC DERMOTT OVERSEAS INVESTMENT CO. N.V.

	 MCDERMOTT SERVICOS OFFSHORE DO BRASIL LTDA.

	 PT. BAJA WAHANA INDONESIA

	 SINGAPORE HUANGDAO PTE. LTD.

	 VARSY INTERNATIONAL N.V.

		
	By:	 	 /s/ JAMES P. GOODWIN

	Name:	 	James P. Goodwin
	Title:	 	Authorized Person

  
 Signature Page to 

Second Supplemental Indenture and Guarantee 

 
			
	 J. RAY MCDERMOTT DE MEXICO, S.A. DE C.V.

	 MCDERMOTT MARINE MEXICO, S.A. DE C.V.

	 SERVICIOS PROFESIONALES DE ALTAMIRA, S.A. DE C.V.

	 SERVICIOS DE FABRICACION DE ALTAMIRA, S.A. DE C.V.

		
	By:	 	 /s/ ANA LAURA MENDEZ BURKART

	Name:	 	Ana Laura Mendez Burkart
	Title:	 	Attorney-in-fact

  
 Signature Page to 

Second Supplemental Indenture and Guarantee 

					
	Executed by J. Ray Mcdermott (Aust.) Holding Pty. Limited. ACN 002 797 668 acting by the following persons or, if the seal is affixed, witnessed by the following persons in accordance with s127 of the Corporations Act
2001:	 		 	
			
	 /s/ HUGH JOHN CUTHBERTSON
	 		 	 /s/ GREGORY DEACON POWELL

	Signature of director	 		 	Signature of director/company secretary
			
	 Hugh John Cuthbertson
	 		 	 Gregory Deacon Powell

	Name of director (print)	 		 	Name of director (print)
			
	Executed by Mcdermott Australia Pty. Ltd. ACN 002 736 352 acting by the following persons or, if the seal is affixed, witnessed by the following persons in accordance with s127 of the Corporations Act 2001:	 		 	
			
	 /s/ HUGH JOHN CUTHBERTSON
	 		 	 /s/ GREGORY DEACON POWELL

	Signature of director	 		 	Signature of director
			
	 Hugh John Cuthbertson
	 		 	 Gregory Deacon Powell

	Name of director (print)	 		 	Name of director (print)

  
 Signature Page to 

Second Supplemental Indenture and Guarantee 

 
			
	EXECUTED AND DELIVERED
	as deed on behalf of
	J. RAY MCDERMOTT INTERNATIONAL VESSELS, LTD.
		
	By:	 	 /s/ JAMES P. GOODWIN

	Name:	 	James P. Goodwin
	Title:	 	Assistant Treasurer
	
	Witnessed
		
	By:	 	 /s/ ROBERT E. STUMPF

	Name:	 	Robert E. Stumpf
	Title:	 	Assistant Secretary
	
	 EXECUTED AND DELIVERED
 as
deed on behalf of

	MCDERMOTT CAYMAN LTD.
		
	By:	 	 /s/ JAMES P. GOODWIN

	Name:	 	James P. Goodwin
	Title:	 	Assistant Treasurer
	
	Witnessed
		
	By:	 	 /s/ ROBERT E. STUMPF

	Name:	 	Robert E. Stumpf
	Title:	 	Assistant Secretary
	
	 EXECUTED AND DELIVERED
 as
deed on behalf of

	OFFSHORE PIPELINES INTERNATIONAL, LTD.
		
	By:	 	 /s/ JAMES P. GOODWIN

	Name:	 	James P. Goodwin
	Title:	 	Assistant Treasurer
	
	Witnessed
		
	By:	 	 /s/ ROBERT E. STUMPF

	Name:	 	Robert E. Stumpf
	Title:	 	Assistant Secretary

  
 Signature Page to 

Second Supplemental Indenture and Guarantee 

 
					
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee
		
	By:	 	 /s/ PATRICK T. GIORDANO

		 	Name:	 	Patrick T. Giordano
		 	Title:	 	Vice President
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Collateral Agent
		
	By:	 	 /s/ PATRICK T. GIORDANO

		 	Name:	 	Patrick T. Giordano
		 	Title:	 	Vice President

  
 Signature Page to 

Second Supplemental Indenture and GuaranteeExhibit
10.1

AMENDMENT
NO. 4 TO SENIOR SECURED TERM LOAN FACILITY AGREEMENT

AND

AMENDMENT NO. 2 TO PLEDGE AND SECURITY AGREEMENT

AMENDMENT
NO. 4 TO SENIOR SECURED TERM LOAN FACILITY AGREEMENT AND AMENDMENT NO. 2 TO PLEDGE AND SECURITY AGREEMENT, dated as of October
16, 2015 (this “Amendment”), is made with reference to (i) that certain Senior Secured Term Loan Facility Agreement
dated as of February 15, 2013 by and among Ocwen Loan Servicing, LLC, a Delaware limited liability company (the “Borrower”),
Ocwen Financial Corporation, a Florida corporation (the “Parent”), certain subsidiaries of the Parent (the
“Subsidiary Guarantors”), the Lenders party thereto, and Barclays Bank PLC, as Administrative Agent (in such
capacity, the “Administrative Agent”) and Collateral Agent (in such capacity, the “Collateral Agent”)
(as amended by Amendment No. 1 to Senior Secured Term Loan Facility Agreement and Amendment No. 1 to Pledge and Security Agreement,
dated as of September 23, 2013 (“Amendment No. 1”), as further amended by Amendment No. 2 to Senior Secured
Term Loan Facility Agreement, dated as of March 2, 2015, as further amended by Amendment No. 3 to the Senior Secured Term Loan
Facility Agreement, dated as of April 17, 2015 the “Credit Agreement”), and (ii) that certain Pledge and Security
Agreement, dated as of February 15, 2013, among the Borrower, the Parent, the Subsidiary Guarantors and the Collateral Agent (as
amended by Amendment No. 1, the “Security Agreement”). Capitalized terms used herein and not otherwise defined
shall have the meanings given to them in the Credit Agreement.

RECITALS

The
Borrower has requested that the Required Lenders and the Administrative Agent agree to amend certain provisions of the Credit
Agreement and the Security Agreement, in accordance with the requirements of Section 10.05 of the Credit Agreement, and the Required
Lenders and the Administrative Agent are willing to so agree subject to the terms and conditions contained in this Amendment.

Subject
to the terms and conditions set forth herein, on the Amendment No. 4 Effective Date (as defined below), each Lender delivering
an executed signature page to this Amendment to the Administrative Agent at or prior to 12:00 noon, New York City time, on October
16, 2015 (each a “Consenting Lender”) has consented to this Amendment and the amendments set forth herein.

Accordingly,
in consideration of the Recitals and the covenants, conditions and agreements hereinafter set forth, the receipt and adequacy
of which are hereby acknowledged, the Borrower, the Required Lenders and the Administrative Agent hereby agree as follows:

1.           Amendments
to the Credit Agreement.

(a)          Section
1.01 of the Credit Agreement is hereby amended by adding the following definitions in the appropriate alphabetical order:

“Amendment
No. 4 Effective Date” means October 20, 2015.

    	1

    	 

    

“Designated
Jurisdiction” means each jurisdiction approved by the Administrative Agent (such approval not to be unreasonably withheld).

“Designated
Subsidiary” means any Foreign Subsidiary organized under the laws of any Designated Jurisdiction that is designated
as a Subsidiary Guarantor pursuant to Section 5.10 by notice in writing to the Administrative Agent.

“Specified
Loan Value” means (a) the fair value of all receivables evidencing loans made to unaffiliated third parties held by
Parent and its Subsidiaries on a consolidated basis less (b) the aggregate outstanding amount of Indebtedness under any repurchase
agreement or other financing agreement that is secured by and attributable to such loans.

(b)          The
definition of “Applicable Margin” in Section 1.01 of the Credit Agreement is hereby deleted in its entirety,
and replaced with the following:

“Applicable
Margin” means (i) with respect to Initial Term Loans that are Eurodollar Rate Loans, (x) prior to the Amendment No.
4 Effective Date, 3.75%, and (y) on or after the Amendment No. 4 Effective Date, 4.25% per annum; and (ii) with respect to Initial
Term Loans that are Base Rate Loans, (x) prior to the Amendment No. 4 Effective Date, 2.75%, and (y) on or after the Amendment
No. 4 Effective Date 3.25% per annum. Nothing in this definition shall limit the right of the Administrative Agent or any Lender
under Section 2.07 or Article VIII and the provisions of this definition shall survive the termination of this Agreement.

(c)          The
definition of “Core Business Activities” in Section 1.01 of the Credit Agreement is hereby deleted in its entirety,
and replaced with the following:

“Core
Business Activities” means (v) loan servicing and collection activities and ancillary services directly related thereto
(including, but not limited to, the making of servicer advances and financing of advances), (w) asset management for investors
that are not a part of the Parent’s consolidated group and management of loans, real estate owned and securities portfolios
for investors that are not a part of the Parent’s consolidated group, (x) originating, acquiring, investing in, pooling,
securitizing and/or selling Servicing Advances, MSRs, residential and commercial mortgage loans (including reverse mortgage loans)
or other loans, leases, mortgage-backed securities and other mortgaged related securities or derivatives, consumer receivables,
REO Assets or Residual Interests and other similar assets (or any interests in any of the foregoing), (y) providing warehouse
financings to third-party mortgage originators, and (z) support services to third-party lending and loan investment and servicing
businesses (including any due diligence services, loan underwriting services, real estate title services, provision of broker-price
opinions and other valuation services), collection of consumer receivables, bankruptcy assistance and solution activities, and
the provision of technological support products and services related to the foregoing; and businesses that are reasonably related,
ancillary or complementary thereto or reasonable developments or extensions thereof; provided, however, that Parent,
the Borrower and each of their respective Affiliates may be permitted to make material changes to their Core Business Activities
insofar as these changes relate to originating, acquiring, securitizing and/or selling loans that are purchased, insured, guaranteed
or securitized by any Specified Government Entity.

    	2

    	 

    

(d)          The
definition of “Grantor” in Section 1.01 of the Credit Agreement is hereby deleted in its entirety, and replaced
with the following:

“Grantor”
shall mean “Grantor” as defined in the Security Agreement and each Designated Subsidiary that grants a lien pursuant
to any Security Document.

(e)          The
definition of “LTV Ratio” in Section 1.01 of the Credit Agreement is hereby deleted in its entirety, and replaced
with the following:

“LTV
Ratio” means the loan-to-value ratio as of the last day of any Fiscal Quarter of (i) the aggregate principal
amount of the Loans then outstanding, to (ii) the sum of (A) Specified Net Servicing Advances, plus (B) Specified Deferred
Servicing Fees that are subject to a valid and perfected First Priority Lien in favor of the Collateral Agent for the benefit
of the Lenders, plus (C) Specified MSR Value of all Specified MSRs that are subject to a valid and perfected First Priority
Lien in favor of the Collateral Agent for the benefit of the Lenders, plus (D) the greater of zero and the result of (x) all
unrestricted Cash and Cash Equivalents that are subject to a valid and perfected First Priority Lien in favor of the
Collateral Agent for the benefit of the Lenders, minus (y) $50,000,000, plus (E) Advance Facility Reserves, plus (F)
Specified Loan Value, plus (G) without duplication of clause (D), the fair value of marketable securities held by Parent and
its Subsidiaries that are subject to a valid and perfected First Priority Lien in favor of the Collateral Agent for the
benefit of the Lenders as of the last day of the most recently ended Fiscal Quarter for which financial statements have been
delivered to the Lenders pursuant to Section 5.01(b) or (c).  For the avoidance of doubt, the Specified MSR Value in
clause (C) shall only include rights to payment under those Servicing Agreements for which an acknowledgement agreement from
the relevant Specified Government Entity of the type set forth in Section 5.15(c) has been obtained.

(f)          The
definition of “Subsidiary Guarantor” in Section 1.01 of the Credit Agreement is hereby deleted in its entirety,
and replaced with the following:

    	3

    	 

    

“Subsidiary
Guarantor” means (i) each Material Subsidiary of Parent or the Borrower; provided that an Excluded Subsidiary
shall not be required to be a Subsidiary Guarantor and (ii) each Designated Subsidiary of Parent or the Borrower.

(g)          The
definition of and “Specified Whole Loan Value” in Section 1.01 of the Credit Agreement are hereby deleted
in their entirety.

(h)          Section
1.02 of the Credit Agreement is hereby amended by adding the following language at the end of such Section:

“Notwithstanding
anything to the contrary in this Agreement or any other Loan Document, all terms of an accounting or financial nature used herein
shall be construed, and all computations of amounts and ratios referred to herein shall be made without giving effect to any change
to Capital Lease accounting rules from those in effect on the Amendment No. 4 Effective Date pursuant to Accounting Standards
Codification 840 and other lease accounting guidance as in effect on the Amendment No. 4 Effective Date.”

(i)           Section
2.08 of the Credit Agreement is hereby amended by adding the following clause (c) to the end of such Section

(c)On
March 31, 2017, the Borrower shall pay to the Lenders fees in an amount equal to, in the aggregate, 3.00% of the total outstanding
amount of the Initial Term Loans on such date. Such fees will be in all respects fully earned, due and payable on such date and
non-refundable and non-creditable thereafter.

(j)          The
third sentence of Section 2.12(b) of the Credit Agreement is hereby amended by deleting “provided that, (x) so long
as no Event of Default shall have occurred and be Continuing at the time of receipt of such proceeds and (y) upon written notice
to the Administrative Agent, directly or through one or more of its Subsidiaries, the Borrower shall have the option to invest
up to 25% of such Net Cash Proceeds within one hundred twenty (120) days of receipt thereof in assets of the general type used
in the business of the Borrower and its Subsidiaries (provided that if, prior to the expiration of such one hundred twenty
(120) day period, the Borrower, directly or through its Subsidiaries, shall have entered into a binding agreement providing for
such investment on or prior to the expiration of an additional ninety (90) day period, such one hundred twenty (120) day period
shall be extended to the date provided for such investment in such binding agreement)” in the third sentence of such section.

(k)          Section
2.22(a)(y) of the Credit Agreement is hereby deleted in its entirety, and replaced with the following:

(y)
such amount that, both before and after giving effect to the making of any Series of New Term Loans or increase in Initial Term
Loans (1) during the period prior to June 30, 2017, the LTV Ratio does not exceed a percentage equal to 35% and (2) beginning
June 30, 2017, the Borrower shall be in compliance with a Corporate Leverage Ratio as of the last day of the most recently ended
Fiscal Quarter for which financial statements have been delivered pursuant to Section 5.01(b) or (c) that is 0.50x lower than
the Corporate Leverage Ratio for the relevant period set forth in Section 6.07(b) (i.e., if the required ratio in Section 6.07(b)
is 4.00 to 1.0 the requirement to incur Indebtedness under this clause (y)(2) shall be 3.50 to 1.0).

    	4

    	 

    

(l)          Clause
(i) of Section 5.01(m) of the Credit Agreement is hereby amended by adding the phrase “or any other Security Documents”
following the reference to “under the Security Agreement” in such Section.

(m)        Section
5.10(a) of the Credit Agreement is hereby amended by adding the following language at the end of such Section:

“In
the event that the Borrower wishes to designate any Designated Subsidiary as a Subsidiary Guarantor it shall, on the date of such
designation, deliver to the Administrative Agent and Collateral Agent (i) a Counterpart Agreement with such changes as maybe requested
by or acceptable to the Administrative Agent, (ii) a Pledge Supplement to the Security Agreement or such other agreements, documents
and instruments as the Administrative Agent may reasonably request in order to grant and perfect a First Priority Lien in favor
of the Collateral Agent in substantially all assets of such Designated Subsidiary, and (iii) all such documents, instruments,
agreements, and certificates as are similar to those described in Sections 3.01(b), (f) and (g) or equivalent in any applicable
foreign jurisdiction, including a customary opinion of counsel from the jurisdiction of organization of such Designated Subsidiary,
in each case, in form and substance reasonably acceptable to the Administrative Agent.”

(n)          Section
5.10(c) of the Credit Agreement is hereby amended by adding the phrase “and any Subsidiary that was designated as a Designated
Subsidiary” following the reference to “With respect to each new Subsidiary” in such Section.

(o)          Section
6.01(o) of the Credit Agreement is hereby deleted in its entirety, and replaced with the following:

(o)
Junior Indebtedness of Parent or its Subsidiaries; provided that (i) no Default or Event of Default shall exist before
or after giving effect to the incurrence of such Indebtedness and (ii) on a pro forma basis after giving effect to the incurrence
of such Junior Indebtedness and any Permitted Acquisitions consummated with the proceeds of such Indebtedness (calculated in accordance
with Section 6.07(e)) as of the last day of the most recently ended Fiscal Quarter for which financial statements have been delivered
to the Lenders pursuant to Section 5.01(b) or (c), (x) the Parent and its Subsidiaries shall be in compliance with the financial
covenants set forth in Section 6.07 and (y) beginning June 30, 2017, the Corporate Leverage Ratio of the Parent and its Subsidiaries
shall not exceed 4.00 to 1.00.

    	5

    	 

    

(p)          Clause
(ii) of the proviso to Section 6.04(c) of the Credit Agreement is hereby deleted in its entirety, and replaced with the following:

(ii)
the Parent shall be in compliance, on a pro forma basis after giving effect to such Restricted Junior Payment as of the last day
of the most recently ended Fiscal Quarter for which financial statements have been delivered pursuant to Section 5.01(b) or (c),
with (x) during the period prior to June 30, 2017, Section 6.07(c) and (y) beginning June 30, 2017, Section 6.07(b);

(q)          Section
6.06(d) of the Credit Agreement is hereby amended by replacing the references to “$40,000,000” and “$20,000,000”
with “$100,000,000” and “$50,000,000”, respectively.

(r)           Section
6.06(e) of the Credit Agreement is hereby deleted in its entirety, and replaced with the following:

(e)
(x) Consolidated Capital Expenditures with respect to the Borrower and its Subsidiaries not in excess of (i) $30,000,000 for each
Fiscal Year plus (ii) if, on a pro forma basis after giving effect to such expenditures as of the last day of the most recently
ended Fiscal Quarter for which financial statements have been delivered pursuant to Section 5.01(b) or (c), the Parent is in compliance
with (I) during the period prior to June 30, 2017, Section 6.07(c) and (II) beginning June 30, 2017, Section 6.07(b); (1) the
Available Amount and (2) the aggregate amount of Net Cash Proceeds of equity contributions to, or the sale of equity by, Parent
received from and after the Closing Date, in each case that is Not Otherwise Applied; provided that the amount in clause
(i) for any Fiscal Year shall be increased by an amount equal to the excess, if any, of such amount for the immediately preceding
Fiscal Year over the actual amount of Consolidated Capital Expenditures for such previous Fiscal Year and (y) Investments described
in clause (i) of the proviso to the definition of “Consolidated Capital Expenditures”;

(s)          Section
6.06(j) of the Credit Agreement is hereby delete in its entirety, and replaced with the following:

(j)          other
Investments by Parent and its Subsidiaries in an aggregate amount not to exceed the sum of (i) $20,000,000 during the term of
this Agreement and (ii) if, on a pro forma basis after giving effect to such Investment as of the last day of the most recently
ended Fiscal Quarter for which financial statements have been delivered pursuant to Section 5.01(b) or (c), the Parent is in compliance
with (I) during the period prior to June 30, 2017, Section 6.07(c) and (II) beginning June 30, 2017, Section 6.07(b), (1) the
Available Amount and (2) the aggregate amount of Net Cash Proceeds of equity contributions to, or the sale of equity by, Parent
received from and after the Closing Date, in each case that is Not Otherwise Applied;

    	6

    	 

    

(t)          Section
6.06 of the Credit Agreement is amended to (i) delete the “and” at the end of clause (r), (ii) rename the existing
clause (s) as clause (t) and (iii) adding the new clause (s) in proper order:

(s)          Investments
in securities after the Amendment No. 4 Effective Date in an aggregate amount not exceeding $150,000,000 at any one time; and

(u)          Sections
6.07(a), (b), (c) and (d) of the Credit Agreement are hereby deleted in their entirety and replaced with the following:

(a)          Interest
Coverage Ratio. Permit the Interest Coverage Ratio as of the last day of any Fiscal Quarter, beginning with the Fiscal Quarter
ending June 30, 2017, to be less than 4.00 to 1.00.

 

(b)          Corporate
Leverage Ratio. Permit the Corporate Leverage Ratio as of the last day of any Fiscal Quarter, beginning with the Fiscal Quarter
ending June 30, 2017 to be less than 3.50 to 1.00.

 

(c)          Consolidated
Total Debt to Consolidated Tangible Net Worth. Permit Consolidated Total Debt to Consolidated Tangible Net Worth as of the
last day of any Fiscal Quarter set forth below to exceed the ratio set forth below opposite such Fiscal Quarter:

 

	Fiscal
    Quarter	Consolidated
    Total Debt to Consolidated Tangible Net Worth
	September
    30, 2015	5.00
    to 1.00
	December
    31, 2015	4.50
    to 1.00
	March
    31, 2016	4.00
    to 1.00
	June
    30, 2016	4.00
    to 1.00
	September
    30, 2016 and thereafter	3.50
    to 1.00

 

(d)          LTV
Ratio. Permit the LTV Ratio as of the last day of any Fiscal Quarter set forth below to exceed the percentage set forth below
opposite such Fiscal Quarter:

    	7

    	 

    

	Fiscal
    Quarter	LTV
    Ratio
	September
    30, 2015	50%
	December
    31, 2015	40%
	March
    31, 2016	40%
	June
    30, 2016	40%
	September
    30, 2016	40%
	December
    31, 2016	30%
	March
    31, 2017	30%
	June
    30, 2017	30%
	September
    30, 2017	30%
	December
    31, 2017 and thereafter	25%

(v)          The
Compliance Certificate (Exhibit C to the Credit Agreement) is hereby amended in its entirety and replaced with the form attached
hereto as Annex A.

2.            Amendments
to the Security Agreement.

(a)          Section
1.1 of the Security Agreement is hereby amended by adding the following definition in the appropriate alphabetical order:

“Excluded
Homeward Assets” shall mean any assets of Homeward and its Subsidiaries as set forth in Schedule 2.2 hereto as such
schedule may be updated from time to time pursuant to Section 14.”

(b)          The
definition of “Excluded MSRs” in Section 1.1 of the Security Agreement is hereby deleted in its entirety.

(c)          Section
2.2(j) of the Security Agreement is hereby amended by replacing (i) each reference to “Excluded MSRs” with “Excluded
Homeward Assets” and (ii) the phrase “Fannie Mae or Freddie Mac” with the phrase “Fannie Mae, Freddie
Mac or any state regulatory agency with authority over Homeward and its Subsidiaries.

(d)          Section
14 of the Security Agreement is hereby deleted in its entirety, and replaced with the following:

Section
14.          UPDATES TO EXCLUDED HOMEWARD ASSETS

At
any time, the Borrower shall have the right to deliver to the Collateral Agent an update to the version of Schedule 2.2 hereto
then in effect to reflect amendments to the Excluded Homeward Assets; provided that (i) the Parent shall be in pro forma
compliance with the financial covenant set forth in Section 6.07 of the Credit Agreement after giving effect to the release of
such Excluded Homeward Assets as of the last day of the most recently ended Fiscal Quarter for which financial statements have
been delivered to the Lenders pursuant to Section 5.01(b) or (c) of the Credit Agreement, (ii) no Default or Event of Default
shall have occurred and be Continuing or would result from such release, (iii) such Excluded Homeward Assets and, if applicable,
the related deferred servicing fees are necessary for Homeward to be in compliance with the minimum tangible net worth restrictions
of Fannie Mae, Freddie Mac or any state regulatory agency with authority over Homeward and its Subsidiaries, as applicable, on
a pro forma basis after giving effect to the release of such Excluded Homeward Assets and (iv) the Administrative Agent and Collateral
Agent shall have received an officer certificate certifying to the effect set forth in clauses (i), (ii) and (iii) above, together
with supporting documentation as reasonably requested by the Administrative Agent or the Collateral Agent. The updated version
of Schedule 2.2 shall include information of the type substantially similar to the information included on Schedule 2.2 on the
date hereof.

    	8

    	 

    

3.          Conditions.
Sections 1 and 2 of this Amendment shall become effective as of the Amendment No. 4 Effective Date when, and only when:

(a)          the
Administrative Agent (or its counsel) shall have received from the Required Lenders, the Borrower and the Loan Parties either
(i) a counterpart of this Amendment signed on behalf of such Person or (ii) written evidence satisfactory to the Administrative
Agent (which may include facsimile or pdf transmission of a signed signature page of this Amendment) that such Person has signed
a counterpart of this Amendment;

(b)          the
Administrative Agent shall have received a certificate of an Authorized Officer of the Parent certifying that immediately before
and after giving effect to this Amendment, (i) no Default or Event of Default shall have occurred and be continuing and (ii) the
representations and warranties (x) of each Loan Party set forth in the Loan Documents and (y) in Section 4 of this Amendment,
in each case, are true and correct in all material respects as of the Amendment No. 4 Effective Date (or in the case of Section
4.24 of the Credit Agreement with respect to Schedules 1.01(e)(A) and 1.01(e)(B), as of the date of the most recent delivery prior
to the Amendment No. 4 Effective Date of updated Schedules 1.01(e)(A) and 1.01(e)(B) pursuant to Section 5.01(m) of the Credit
Agreement); it being understood that, to the extent that any such representation and warranty specifically refers to an earlier
date, it shall be true and correct in all material respects as of such earlier date and any such representation and warranty that
is qualified as to “materiality,” “material adverse effect” or similar language shall be true and correct
in all respects (after giving effect to any such qualification therein);

(c)          the
Borrower shall have paid to the Administrative Agent (x) all fees in the amounts previously agreed in writing and in accordance
with Section 6 below to be paid on the Amendment No. 4 Effective Date, including, without limitation, the arrangement fee as separately
agreed to between the Borrower and Barclays Bank PLC, (y) all reasonable and documented out-of-pocket costs and expenses of the
Administrative Agent (including, without limitation the fees, charges and disbursements of Cahill Gordon & Reindel LLP, counsel
for the Administrative Agent) incurred in connection with the preparation, execution and delivery of this Amendment and (z) for
the ratable account of each Consenting Lender, an amount equal to 0.75% of the outstanding principal amount of such Consenting
Lender’s Loans on the Amendment No. 4 Effective Date (after giving effect to the Voluntary Prepayment Reduction (as defined
below)); and

    	9

    	 

    

(d)          the
Borrower shall have taken all actions necessary pursuant to Section 2.11 of the Credit Agreement to voluntary prepay the Loans
outstanding under the Credit Agreement on or prior to the Amendment No. 4 Effective Date in an aggregate principal amount of $50,000,000,
including, without limitation, providing one Business Day’s written notice of prepayment to the Administrative Agent (the
“Voluntary Prepayment Reduction”).

The
effectiveness of this Amendment (other than Sections 7, 8 and 9 hereof) is conditioned upon the accuracy of the representations
and warranties set forth in Section 4 hereof.

4.          Representations
and Warranties. In order to induce the Lenders party hereto to enter into this Amendment, the Parent and each other Loan Party
hereby represents and warrants to the Administrative Agent and each Lender as follows:

(a)          This
Amendment has been duly authorized, executed and delivered by the Loan Parties and constitutes the legal, valid and binding obligations
of each of the Loan Parties enforceable against each of the Loan Parties in accordance with its terms, subject to applicable bankruptcy,
insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles
of equity, regardless of whether considered in a proceeding in equity or at law;

(b)          On
and as of the Amendment No. 4 Effective Date (before and after giving effect to this Amendment), each of the representations and
warranties made by the Parent and any other Loan Party contained in Article IV of the Credit Agreement and each other Loan Document
is true and correct in all material respects (except that any representation and warranty that is qualified as to “materiality”
or “Material Adverse Effect” shall be true and correct in all respects on and as of the Amendment No. 4 Effective
Date (before and after giving effect to this Amendment), as if made on and as of such date and except to the extent that such
representations and warranties specifically relate to an earlier date); and

(c)          No
Default or Event of Default has occurred and is continuing.

5.           Credit
Agreement. The Credit Agreement and the other Loan Documents shall in all other respects remain in full force and effect,
and no amendment, consent, waiver, or other modification herein in respect of any term or condition of any Loan Document shall
be deemed to be an amendment, consent, waiver, or other modification in respect of any other term or condition of any Loan Document.
Each Loan Party hereby expressly acknowledges the terms of this Amendment and reaffirms, as of the date hereof, (i) the covenants
and agreements contained in each Loan Document to which it is a party, including, in each case, such covenants and agreements
as in effect immediately after giving effect to this Amendment and the transactions contemplated hereby and (ii) its guarantee
of the Obligations under the Guaranty, as applicable, and its grant of Liens on the Collateral to secure the Obligations pursuant
to the Security Documents.

6.          Fees
and Expenses. The Borrower agrees to pay all reasonable costs and expenses of the Administrative Agent in connection with
the preparation, execution and delivery of this Amendment (including, without limitation, the reasonable and documented fees and
expenses of Cahill Gordon & Reindel LLP), if any, in accordance with the terms of Section 10.02 of the Credit Agreement.

    	10

    	 

    

7.          Counterparts.
This Amendment may be executed in counterparts, each of which shall be deemed to be an original, but all of which shall constitute
one and the same agreement. Delivery of an executed counterpart of a signature page to this Amendment by facsimile or pdf or other
electronic transmission shall be effective as delivery of a manually executed counterpart of this Amendment.

8.          Loan
Document. This Amendment shall constitute a Loan Document for all purposes under the Credit Agreement.

9.          Governing
Law. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND
ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

10.        Severability.
Any term or provision of this Amendment which is invalid or unenforceable in any jurisdiction shall, as to that jurisdiction,
be ineffective to the extent of such invalidity or unenforceability without rendering invalid or unenforceable the remaining terms
and provisions of this Amendment or affecting the validity or enforceability of any of the terms or provisions of this Amendment
in any other jurisdiction. If any provision of this Amendment is so broad as to be unenforceable, the provision shall be interpreted
to be only so broad as would be enforceable.

11.        Headings.
The Section headings used herein are for convenience of reference only, are not part of this Amendment and are not to affect the
construction of, or to be taken into consideration in interpreting, this Amendment.

[SIGNATURE
PAGES FOLLOW]

    	11

    	 

    

IN
WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered by their proper and duly authorized
officers as of the day and year first above written.

	 	BARCLAYS
    BANK PLC,
	 	as
    Administrative Agent and the Collateral Agent
	 	 
	 	By:	         /s/
    Jeremy Hazan
	 	Name:
    Jeremy Hazan
	 	Title:  Managing
    Director

    	Signature Page to Amendment No. 4

    	 

    

	
	ACKNOWLEDGED AND AGREED TO BY:	 
	 	 
	 	OCWEN
    LOAN SERVICING, LLC, as Borrower 
	 	 
	 	By:
    	         /s/
    Michael R. Bourque, Jr.
	 	Name:
    Michael R. Bourque, Jr.
	 	Title:
    Chief Financial Officer
	 	 
	 	OCWEN
    FINANCIAL CORPORATION, as Parent
	 	 
	 	By: 	         /s/
    Michael R. Bourque, Jr.
	 	Name:
    Michael R. Bourque, Jr.
	 	Title:
    Chief Financial Officer
	 	 
	 	SUBSIDIARY
    GUARANTORS:
	 	 
	 	OCWEN
    MORTGAGE SERVICING, INC.
	 	 
	 	By: 	         /s/
    Michael R. Bourque, Jr.
	 	Name:
    Michael R. Bourque, Jr.
	 	Title:
    Chief Financial Officer
	 	 
	 	HOMEWARD
    RESIDENTIAL HOLDINGS, INC.
	 	 
	 	By: 	         /s/
    John V. Britti
	 	Name:
    John V. Britti
	 	Title:
    Chief Financial Officer
	 	 
	 	HOMEWARD
    RESIDENTIAL, INC.
	 	 
	 	By: 	         /s/
    John V. Britti
	 	Name:
    John V. Britti
	 	Title:
    Chief Financial Officer

	Signature Page to Amendment No. 4

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