Document:

Exhibit
10.1

AMENDMENT AND
CONSENT NO. 16

 

Amendment and Consent No. 16 to Revolving Credit
Agreement (this “Amendment”), dated as of February 4, 2008, among
FirstCity Financial Corporation (the “Borrower”); the financial
institutions (each a “Lender” and collectively, the “Lenders”)
party to that certain Revolving Credit Agreement, dated as of November 12,
2004 (as heretofore amended or otherwise modified, the “Loan Agreement”),
among the Borrower, the Lenders and Bank of Scotland acting through its New York
branch, as Agent for the Lenders (the “Agent”); and the Agent.

 

W I T
N E S S E T H :

 

WHEREAS, the Borrower has advised the Agent that it
desires to buy back (the “Buyback”) up to 1,500,000 shares of its outstanding
common stock (the “Subject Shares”); and

 

WHEREAS, the Borrower has advised the Agent that it
desires that up to $12,000,000 of the Buyback Price be paid with proceeds of a
Working Capital Loan under the Loan Agreement or other available cash; and

 

WHEREAS, the parties hereto previously executed and
delivered Consents No. 8 and No. 14 with respect to the Buyback; and

 

WHEREAS, the Borrower has, through February 1,
2008, acquired 651,500 shares of common stock of Borrower for an aggregate
repurchase price of $6,555,769.17 to effect the Buyback; and

 

WHEREAS, the Borrower has advised the Agent that it
desires to extend the period for the Buyback to August 30, 2009 and use up
to $5,444,230.83 of Working Capital Loan Proceeds under the Loan Agreement,
other available cash or Subordinated Debt to complete the Buyback; and

 

WHEREAS, Section 8.11 of the Loan Agreement
prohibits, among other things, the redemption or purchase by the Borrower of
its outstanding common stock, and Section 2.1(b) and Section 8.15
of the Loan Agreement restrict the use of proceeds of Working Capital Loans to
working capital purposes; and

 

WHEREAS, Section 7.1(a) of the Loan
Agreement requires the Borrower to deliver to the Lenders monthly financial
statements; and

 

WHEREAS, the Borrower has failed to deliver monthly
financial statements required by such Section 7.1(a) and requests a
waiver of the Event of Default resulting from such failure; and

 

WHEREAS, the Lenders are willing to grant such waiver
and further to amend the Loan Agreement to delete Section 7.1(a) therefrom;
and

 

 

WHEREAS, the Lenders are willing to consent to the
foregoing on and subject to the terms hereof.

 

NOW THEREFORE, it is agreed:

 

1.             Definitions. 
All the capitalized terms used herein which are defined in the Loan
Agreement shall have the same meanings when used herein unless otherwise
defined in the recitals to this Amendment.

 

2.             Effect of Amendment. 
As used in the Loan Agreement (including all Exhibits thereto), the
Notes and the other Loan Documents and all other instruments and documents
executed in connection with any of the foregoing, on and subsequent to the
Amendment Closing Date, any reference to the Loan Agreement shall mean the Loan
Agreement as amended hereby.

 

3.             Representations and Agreements. 
To induce the Lenders to enter into this Amendment and to grant the
consents contained herein, the Borrower hereby represents and warrants to the
Lenders (which representations and warranties are made as of the date hereof
and as of the Amendment Closing Date) and agrees for the benefit of the Lenders
(which representations, warranties and agreements shall survive the execution,
delivery and effectiveness of this Amendment), as follows:

 

(a)           No Default or Event
of Default exists nor, after giving effect to the consents contained herein,
will any Default or Event of Default arise as a result of the consummation of
the Buyback.

 

(b)           Each representation
and warranty made by the Borrower in the Loan Documents is true and correct.

 

(c)           The execution and
delivery of this Amendment by the Borrower and the consummation of the
transactions contemplated herein have been duly authorized by all necessary
corporate action.  The Buyback has been
duly authorized by all necessary corporate action and upon acquisition of the
Subject Shares such shares shall be held as treasury stock by the Borrower and
the capital of the Borrower shall be reduced accordingly.

 

(d)           This Amendment is
the legal, valid and binding obligation of the Borrower, enforceable in
accordance with its terms subject, as to enforceability, to applicable
bankruptcy, insolvency, reorganization and similar laws affecting the
enforcement of creditors’ rights generally and to general principles of equity
(regardless of whether such enforcement is considered in a proceeding in equity
or at law).

 

(e)           No Material Adverse
Change has occurred since November 12, 2004.

 

4.             Requests.  Borrower
hereby requests that the Lenders consent, (i) for purposes of Section 8.11
of the Loan Agreement, to the extension of the Buyback to August 30, 2009
and (ii) for purposes of Section 2.1(b) and Section 8.15 of
the Loan Agreement, to the application of up to $5,444,230.83 of Working
Capital Loan proceeds under the Loan Agreement, other available cash and
Subordinated Debt toward payment of the price of the Buyback after the date
hereof.  Borrower hereby requests that
the Lenders (a) waive any Event of Default resulting from the failure of
the Borrower to deliver the monthly financial statements required by Section 7.1(a) of

 

2

 

the Loan Agreement and (b) agree to an amendment of the Loan
Agreement to remove Section 7.1(a) therefrom.

 

5.             Consents and Waivers. 
In reliance upon the representations, warranties and agreements set
forth herein, the Lenders hereby (w) consent to the extension of the
Buyback and to the application of up to $5,444,230.83 after February 1,
2008 of Working Capital Loan proceeds under the Loan Agreement or other
available cash toward payment of the price of the Buyback, to use of
Subordinated Debt toward payment of the price of the Buyback and waive any
provision of Sections 2.1(b), 8.11 or 8.15 of the Loan Agreement to the
contrary; provided, however, (i) such Buyback shall occur
prior to August 30, 2009, (ii) upon acquisition of the Subject Shares
such shares shall be held as treasury stock by the Borrower and the capital of
the Borrower shall be reduced accordingly, (x) waive any Event of Default
arising from the Borrower’s failure at any time to deliver the monthly
financial statements required by Section 7.1(a) of the Loan Agreement
and (y) agree to the amendment described in Section 6 of this
Amendment.

 

6.             Amendment.  In reliance
upon the representations, warranties and agreements set forth herein, as of the
date hereof, the Loan Agreement is hereby amended by amending and restating in
their entirety Section 7.1(a) and Section 7.1(e) thereof to
read as follows:

 

                                “(a) Intentionally deleted.”

 

“(e) 
Concurrently with delivery to its stockholders, copies of all financial and
other information delivered by Borrower to such Persons, including without
limitation, its proxy statements and annual reports to stockholders.  Within two (2) Business Days after
delivery to the SEC by Borrower, which in all cases shall be on a timely basis
in accordance with the applicable document and the Securities Laws, copies of
all reports and other filings filed by Borrower with the SEC, including without
limitation, all reports on Forms 10K, 10Q or 8K promulgated under the
Securities Exchange Act of 1934, as amended, and all registration statements
filed under the Securities Act of 1933, as amended; provided that, without
limiting or waiving any failure to comply with the delivery requirements set
forth in this 7.1(e), in the event the Borrower’s Form 10Q is not timely
filed with the SEC, the Borrower shall deliver to Agent and each Lender within
two (2) Business Days after such Form 10Q was due, a consolidated and
consolidating balance sheet of Borrower and the other members of the
Consolidated Group as at the end of the quarterly period to which such 10Q
applies, and the related statement of operations for such period, all certified
by the CFO of Borrower and each other member of the Consolidated Group as being
prepared in accordance with GAAP and to present fairly the financial position
and results of operation for such period;”

 

7.             Effectiveness. 
This Amendment shall become effective as of the date hereof when each of
the following conditions (the first date on which all such conditions have been
so satisfied (or so waived) is herein referred to as the “Amendment Closing
Date”) has been fulfilled to the satisfaction of the Agent (or waived by
the Agent in its sole discretion):

 

(a)           the Borrower, the
Lenders and the Agent shall have executed a copy hereof,  and delivered the foregoing to the Agent at
565 Fifth Avenue, New York, New York 10017 (Attention: Loans
Administration);

 

3

 

(b)           on the Amendment
Closing Date, both before and after giving effect to the transactions
contemplated by this Amendment to be effective on the Amendment Closing Date,
no Material Adverse Change shall have occurred since November 12, 2004;

 

(c)           no
Default or Event of Default shall exist;

 

(d)           each representation
and warranty made by the Borrower in the Loan Agreement and the other Loan
Documents shall be true and correct in all material respects as of the
Amendment Closing Date with the same effect as though made at and as of such
date (except for those that specifically speak as of a prior date); and

 

                (e)           each of the Guarantors shall have executed a confirming
consent, substantially in the form attached hereto as Annex A or otherwise
satisfactory to the Agent, and delivered the same to the Agent at 565 Fifth
Avenue, New York, New York 10017 (Attention: 
Loans Administration) or such other place directed by the Agent.

 

8.             Ratification and Release. The Borrower does hereby remise,
release and forever discharge the Agent and the Lenders and each of their
respective affiliates, successors, officers, directors, employees, counsel and
agents, past and present, and each of them, of and from any and all manner of
actions, and causes of action, suits, debts, dues, accounts, bonds, covenants,
contracts, agreements, judgments, claims and demands whatsoever in law or in
equity, which against the Agent, the Lenders or any of their respective
affiliates, successors, officers, directors, employees, counsel or agents, or
any one or more of them, the Borrower ever had, now has, or hereafter can,
shall or may have for or by reason of any cause, matter or thing that occurred
or did not occur on or prior to the Amendment Closing Date with respect to the
Loan Agreement, this Amendment or any Security Document or other Loan Document,
any previous version hereof or thereof or any proposed amendment or waiver
hereof or thereof.

 

9.             Limited Nature of Consents. 
The consents and waivers (if any) set forth herein are limited precisely
as written and shall not be deemed to prejudice any right or rights which the
Agent or the Lenders may now have or may have in the future under or in
connection with the Loan Agreement or any of the other Loan Documents.  Except as expressly consented to herein, the
terms and provisions of the Loan Agreement and all other Loan Documents remain
in full force and effect.

 

10.           THIS AMENDMENT SHALL BE GOVERNED BY, AND
CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT
REFERENCE TO CHOICE OF LAW DOCTRINE THAT WOULD RESULT IN THE APPLICATION OF THE
LAWS OF ANOTHER JURISDICTION.

 

11.           THIS AMENDMENT AND THE OTHER LOAN
DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES HERETO WITH RESPECT
TO THE MATTERS COVERED HEREBY AND THEREBY AND MAY NOT BE CONTRADICTED BY
EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE
PARTIES.

 

                THERE
ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.

 

4

 

12.           Counterparts. This Amendment may be executed in any
number of counterparts by the different parties hereto on separate
counterparts, each of which when so executed and delivered shall be an
original, but all the counterparts shall together constitute one and the same
instrument. Telecopied signatures hereto shall be of the same force and effect
as an original of a manually signed copy.

 

13.           Headings. The descriptive headings of the various provisions
of this Amendment are for convenience of reference only and shall not be deemed
to affect the meaning or construction of any of the provisions hereof.

 

[Signature Page Follows]

 

5

 

 

                IN WITNESS WHEREOF, 
the parties hereto have caused this Amendment to be duly executed and
delivered by their respective duly authorized officers as of the date first
shown.

 

	
   

  	
  BANK OF SCOTLAND,
  acting through its New York

  	
   

  
	
   

  	
  branch, as Agent and as
  a Lender

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  FIRSTCITY FINANCIAL
  CORPORATION

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  

 

Annex A

 

CONFIRMING CONSENT

 

                Reference is hereby made to the foregoing Amendment
and Consent No. 16 (the “Amendment”) to the Revolving Credit
Agreement dated as of November 29, 2007 among the Borrower, the Lenders
and the Agent (said agreement, as from time to time amended or otherwise
modified, the “Agreement”).

 

                Each Guarantor hereby consents to the terms and
provisions of the Amendment and confirms and acknowledges that:

 

(a) 
its obligations under the Loan Documents to which it is a party remain in full
force and effect; and

 

                (b)  its consent and acknowledgement hereunder
is not required under the terms of such Loan Documents and any failure to
obtain its consent or acknowledgment in connection herewith or with any
subsequent consent, waiver or amendment to the Agreement or any of the other
Loan Documents will not affect the validity of its obligations under the
aforesaid Loan Documents or any other Loan Document, and this consent and
acknowledgement is being delivered for purposes of form only.

 

                Capitalized
terms used herein and not otherwise defined have the same meanings as in the
Agreement.  This Consent is dated as of
the Amendment Closing Date (as defined in the Amendment).

 

	
  FIRSTCITY COMMERCIAL
  CORPORATION

  	
   

  
	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
  Name: James C. Holmes

  	
   

  
	
   

  	
  Title: Executive Vice
  President

  	
   

  
	
   

  	
   

  	
   

  
	
  FC CAPITAL CORP.

  	
   

  
	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
  Name: James C. Holmes

  	
   

  
	
   

  	
  Title: Executive Vice
  President

  	
   

  
	
   

  	
   

  	
   

  
	
  FIRSTCITY CONSUMER
  LENDING CORPORATION

  	
   

  
	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
  Name: James C. Holmes

  	
   

  
	
   

  	
  Title: Executive Vice
  President

  	
   

  

 

 

 

 

	
  FIRSTCITY EUROPE CORPORATION

  	
   

  
	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
  Name: James C. Holmes

  	
   

  
	
   

  	
  Title: Executive Vice President

  	
   

  
	
   

  	
   

  	
   

  
	
  FIRSTCITY HOLDINGS CORPORATION

  	
   

  
	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
  Name: James C. Holmes

  	
   

  
	
   

  	
  Title: Executive Vice President

  	
   

  
	
   

  	
   

  	
   

  
	
  FIRSTCITY HOLDINGS CORPORATION OF MINNESOTA

  
	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
  Name: James C. Holmes

  	
   

  
	
   

  	
  Title: Executive Vice President

  	
   

  
	
   

  	
   

  	
   

  
	
  FIRSTCITY INTERNATIONAL CORPORATION

  	
   

  
	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
  Name: James C. Holmes

  	
   

  
	
   

  	
  Title: Executive Vice President

  	
   

  
	
   

  	
   

  	
   

  
	
  FIRSTCITY MEXICO, INC.

  	
   

  
	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
  Name: James C. Holmes

  	
   

  
	
   

  	
  Title: Executive Vice President

  	
   

  
	
   

  	
   

  	
   

  
	
  FIRSTCITY SERVICING CORPORATION

  	
   

  
	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
  Name: James C. Holmes

  	
   

  
	
   

  	
  Title: Executive Vice President

  	
   

  
	
   

  	
   

  	
   

  
	
  BOSQUE ASSET CORP.

  	
   

  
	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
  Name: James C. Holmes

  	
   

  
	
   

  	
  Title: Executive Vice President

  	
   

  
	
   

  	
   

  	
   

  
	
  BOSQUE LEASING, L.P.

  	
   

  
	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
  Name: James C. Holmes

  	
   

  
	
   

  	
  Title: Executive Vice President

  	
   

  
	
   

  	
   

  	
   

  
	
  BOSQUE LEASING GP CORP.

  	
   

  
	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
  Name: James C. Holmes

  	
   

  
	
   

  	
  Title: Executive Vice PresidentExhibit
10.2

AMENDMENT AND
CONSENT NO. 3

 

Amendment and Consent No. 3 to Revolving Credit
Agreement (this “Amendment”), dated as of February 4, 2008, among
FirstCity Financial Corporation (the “Borrower”); the financial
institutions (each a “Lender” and collectively, the “Lenders”)
party to that certain Subordinated Delayed Draw Credit Agreement, dated as of September 5,
2007 (as heretofore amended or otherwise modified, the “Loan Agreement”),
among the Borrower, the Lenders and BoS(USA) Inc., as Agent for the Lenders
(the “Agent”); and the Agent.

 

W I T
N E S S E T H :

 

WHEREAS, the Borrower has advised the Agent that it
has adopted a stock repurchase plan to purchase up to 1,500,000 shares of its
common stock (the “Buyback”), that Borrower has, through February 1, 2008,
acquired 651,500 shares of common stock of Borrower for an aggregate repurchase
price of $6,555,769.17 to effect the Buyback and that Borrower desires to
extend the Buyback through August 31, 2009 to purchase up to 848,500
additional  shares of its outstanding
common stock (the “Subject Shares”); and

 

WHEREAS, the Borrower has advised the Agent that it
desires that up to $12,000,000 of the purchase price for the Buyback be paid
with Senior Indebtedness or other available cash and to use proceeds of a
Working Capital Loan, to the extent of availability under the Borrowing Base,
to pay the purchase price (the “Buyback Price”) for purchases in the Buyback
after the aggregate purchase price in the Buyback exceeds $12,000,000; and

 

WHEREAS, Section 8.11 of the Loan Agreement
prohibits, among other things, the redemption or purchase by the Borrower of
its outstanding common stock, and Section 2.1(b) and Section 8.15
of the Loan Agreement restrict the use of proceeds of Working Capital Loans to
working capital purposes; and

 

WHEREAS, the Borrower has requested that the Lenders
consent to the Buyback and to the application of Working Capital Loan proceeds
toward payment of the Buyback Price; and

 

WHEREAS, Section 7.1(a) of the Loan
Agreement requires the Borrower to deliver to the Lenders monthly financial
statements; and

 

WHEREAS, the Borrower has failed to deliver monthly
financial statements required by such Section 7.1(a) and requests a
waiver of the Event of Default resulting from such failure; and

 

WHEREAS, the Lenders are willing to grant such waiver
and further to amend the Loan Agreement to delete Section 7.1(a) therefrom;
and

 

WHEREAS, the Lenders are willing to consent to the
foregoing on and subject to the terms hereof.

 

 

NOW THEREFORE, it is agreed:

 

1.             Definitions. 
All the capitalized terms used herein which are defined in the Loan
Agreement shall have the same meanings when used herein unless otherwise
defined in the recitals to this Amendment.

 

2.             Effect of Amendment. 
As used in the Loan Agreement (including all Exhibits thereto), the
Notes and the other Loan Documents and all other instruments and documents
executed in connection with any of the foregoing, on and subsequent to the
Amendment Closing Date, any reference to the Loan Agreement shall mean the Loan
Agreement as amended hereby.

 

3.             Representations and Agreements. 
To induce the Lenders to enter into this Amendment and to grant the
consents contained herein, the Borrower hereby represents and warrants to the
Lenders (which representations and warranties are made as of the date hereof
and as of the Amendment Closing Date) and agrees for the benefit of the Lenders
(which representations, warranties and agreements shall survive the execution,
delivery and effectiveness of this Amendment), as follows:

 

(a)           No Default or Event
of Default exists nor, after giving effect to the consents contained herein,
will any Default or Event of Default arise as a result of the consummation of
the Buyback.

 

(b)           Each representation
and warranty made by the Borrower in the Loan Documents is true and correct.

 

(c)           The execution and
delivery of this Amendment by the Borrower and the consummation of the
transactions contemplated herein have been duly authorized by all necessary
corporate action.  The Buyback has been
duly authorized by all necessary corporate action and upon acquisition of the
Subject Shares such shares shall be held as treasury stock by the Borrower and
the capital of the Borrower shall be reduced accordingly.

 

(d)           This Amendment is
the legal, valid and binding obligation of the Borrower, enforceable in
accordance with its terms subject, as to enforceability, to applicable
bankruptcy, insolvency, reorganization and similar laws affecting the
enforcement of creditors’ rights generally and to general principles of equity
(regardless of whether such enforcement is considered in a proceeding in equity
or at law).

 

(e)           No Material Adverse
Change has occurred since November 12, 2004.

 

4.             Requests.  Borrower
hereby requests that the Lenders consent, (i) for purposes of Section 8.11
of the Loan Agreement, to the Buyback through August 31, 2009 and (ii) for
purposes of Section 2.1(b) and Section 8.15 of the Loan
Agreement, to the application of Working Capital Loan proceeds toward payment
of the price of the Buyback after the date hereof.  Borrower hereby requests that the Lenders (a) waive
any Event of Default resulting from the failure of the Borrower to deliver the
monthly financial statements required by Section 7.1(a) of the Loan
Agreement and (b) agree to an amendment of the Loan Agreement to remove Section 7.1(a) therefrom.

 

5.             Consents and Waivers. 
In reliance upon the representations, warranties and agreements set
forth herein, the Lenders hereby (w) consent to the extension of the
Buyback and to the application of Working Capital Loan proceeds, to the extent
of availability under the 

 

2

 

Borrowing Base,
toward payment of the price of the Buyback, and waive any provision of Sections
2.1(b), 8.11 or 8.15 of the Loan Agreement to the contrary; provided, however,
(i) such Buyback shall occur prior to August 30, 2009, (ii) upon
acquisition of the Subject Shares such shares shall be held as treasury stock
by the Borrower and the capital of the Borrower shall be reduced accordingly, (x) waive
any Event of Default arising from the Borrower’s failure at any time to deliver
the monthly financial statements required by Section 7.1(a) of the
Loan Agreement and (y) agree to the amendment described in Section 6
of this Amendment.

 

6.             Amendment.  In reliance
upon the representations, warranties and agreements set forth herein, as of the
date hereof, the Loan Agreement is hereby amended by amending and restating in
their entirety Section 7.1(a) and Section 7.1(e) thereof to
read as follows:

 

                                “(a)  Intentionally deleted.”

 

“(e) 
Concurrently with delivery to its stockholders, copies of all financial and
other information delivered by Borrower to such Persons, including without
limitation, its proxy statements and annual reports to stockholders.  Within two (2) Business Days after
delivery to the SEC by Borrower, which in all cases shall be on a timely basis
in accordance with the applicable document and the Securities Laws, copies of
all reports and other filings filed by Borrower with the SEC, including without
limitation, all reports on Forms 10K, 10Q or 8K promulgated under the
Securities Exchange Act of 1934, as amended, and all registration statements
filed under the Securities Act of 1933, as amended; provided that, without
limiting or waiving any failure to comply with the delivery requirements set
forth in this 7.1(e), in the event the Borrower’s Form 10Q is not timely
filed with the SEC, the Borrower shall deliver to Agent and each Lender within
two (2) Business Days after such Form 10Q was due, a consolidated and
consolidating balance sheet of Borrower and the other members of the
Consolidated Group as at the end of the quarterly period to which such 10Q
applies, and the related statement of operations for such period, all certified
by the CFO of Borrower and each other member of the Consolidated Group as being
prepared in accordance with GAAP and to present fairly the financial position
and results of operation for such period;”

 

7.             Effectiveness. 
This Amendment shall become effective as of the date hereof when each of
the following conditions (the first date on which all such conditions have been
so satisfied (or so waived) is herein referred to as the “Amendment Closing
Date”) has been fulfilled to the satisfaction of the Agent (or waived by
the Agent in its sole discretion):

 

(a)           the Borrower, the
Lenders and the Agent shall have executed a copy hereof,  and delivered the foregoing to the Agent at
565 Fifth Avenue, New York, New York 10017 (Attention: Loans
Administration);

 

(b)           on the Amendment
Closing Date, both before and after giving effect to the transactions
contemplated by this Amendment to be effective on the Amendment Closing Date,
no Material Adverse Change shall have occurred since November 12, 2004;

 

(c)           no
Default or Event of Default shall exist;

 

(d)           each representation
and warranty made by the Borrower in the Loan Agreement and the other Loan
Documents shall be true and correct in all material respects as of 

 

3

 

the Amendment
Closing Date with the same effect as though made at and as of such date (except
for those that specifically speak as of a prior date); and

 

                (e)           each of the Guarantors shall have executed a confirming
consent, substantially in the form attached hereto as Annex A or otherwise
satisfactory to the Agent, and delivered the same to the Agent at 565 Fifth
Avenue, New York, New York 10017 (Attention: 
Loans Administration) or such other place directed by the Agent.

 

8.             Ratification and Release. The Borrower does hereby remise,
release and forever discharge the Agent and the Lenders and each of their
respective affiliates, successors, officers, directors, employees, counsel and
agents, past and present, and each of them, of and from any and all manner of
actions, and causes of action, suits, debts, dues, accounts, bonds, covenants,
contracts, agreements, judgments, claims and demands whatsoever in law or in
equity, which against the Agent, the Lenders or any of their respective affiliates,
successors, officers, directors, employees, counsel or agents, or any one or
more of them, the Borrower ever had, now has, or hereafter can, shall or may
have for or by reason of any cause, matter or thing that occurred or did not
occur on or prior to the Amendment Closing Date with respect to the Loan
Agreement, this Amendment or any Security Document or other Loan Document, any
previous version hereof or thereof or any proposed amendment or waiver hereof
or thereof.

 

9.             Limited Nature of Consents. 
The consents and waivers (if any) set forth herein are limited precisely
as written and shall not be deemed to prejudice any right or rights which the
Agent or the Lenders may now have or may have in the future under or in
connection with the Loan Agreement or any of the other Loan Documents.  Except as expressly consented to herein, the
terms and provisions of the Loan Agreement and all other Loan Documents remain
in full force and effect.

 

10.           THIS AMENDMENT SHALL BE GOVERNED BY, AND
CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT
REFERENCE TO CHOICE OF LAW DOCTRINE THAT WOULD RESULT IN THE APPLICATION OF THE
LAWS OF ANOTHER JURISDICTION.

 

11.           THIS AMENDMENT AND THE OTHER LOAN
DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES HERETO WITH RESPECT
TO THE MATTERS COVERED HEREBY AND THEREBY AND MAY NOT BE CONTRADICTED BY
EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE
PARTIES.

 

                THERE
ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.

 

12.           Counterparts. This Amendment may be executed in any
number of counterparts by the different parties hereto on separate
counterparts, each of which when so executed and delivered shall be an
original, but all the counterparts shall together constitute one and the same
instrument. Telecopied signatures hereto shall be of the same force and effect
as an original of a manually signed copy.

 

4

 

13.           Headings. The descriptive headings of the various provisions
of this Amendment are for convenience of reference only and shall not be deemed
to affect the meaning or construction of any of the provisions hereof.

 

[Signature Page Follows]

 

5

 

 

 

                IN WITNESS WHEREOF, 
the parties hereto have caused this Amendment to be duly executed and
delivered by their respective duly authorized officers as of the date first
shown.

 

	
   

  	
  BoS(USA) INC., as Agent
  and as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
  By

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
  FIRSTCITY FINANCIAL
  CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
  By

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

 

Annex A

 

CONFIRMING CONSENT

 

                Reference is hereby made to the foregoing Amendment
and Consent No. 3 (the “Amendment”) to the Subordinated Delayed
Draw Credit Agreement dated as of November 29, 2007 among the Borrower,
the Lenders and the Agent (said agreement, as from time to time amended or
otherwise modified, the “Agreement”).

 

                Each Guarantor hereby consents to the terms and
provisions of the Amendment and confirms and acknowledges that:

 

(a) 
its obligations under the Loan Documents to which it is a party remain in full
force and effect; and

 

                (b)  its consent and acknowledgement hereunder
is not required under the terms of such Loan Documents and any failure to
obtain its consent or acknowledgment in connection herewith or with any
subsequent consent, waiver or amendment to the Agreement or any of the other
Loan Documents will not affect the validity of its obligations under the
aforesaid Loan Documents or any other Loan Document, and this consent and
acknowledgement is being delivered for purposes of form only.

 

                Capitalized
terms used herein and not otherwise defined have the same meanings as in the
Agreement.  This Consent is dated as of
the Amendment Closing Date (as defined in the Amendment).

 

	
  FIRSTCITY COMMERCIAL
  CORPORATION

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
  Name: James C. Holmes

  	
   

  
	
   

  	
  Title: Executive Vice
  President

  	
   

  
	
   

  	
   

  	
   

  
	
  FC CAPITAL CORP.

  	
   

  
	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
  Name: James C. Holmes

  	
   

  
	
   

  	
  Title: Executive Vice
  President

  	
   

  
	
   

  	
   

  	
   

  
	
  FIRSTCITY CONSUMER
  LENDING CORPORATION

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
  Name: James C. Holmes

  	
   

  
	
   

  	
  Title: Executive Vice
  President

  	
   

  

 

 

 

	
  FIRSTCITY EUROPE
  CORPORATION

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
  Name: James C. Holmes

  	
   

  
	
   

  	
  Title: Executive Vice
  President

  	
   

  
	
   

  	
   

  	
   

  
	
  FIRSTCITY HOLDINGS
  CORPORATION

  	
   

  
	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
  Name: James C. Holmes

  	
   

  
	
   

  	
  Title: Executive Vice
  President

  	
   

  
	
   

  	
   

  	
   

  
	
  FIRSTCITY HOLDINGS
  CORPORATION OF MINNESOTA

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
  Name: James C. Holmes

  	
   

  
	
   

  	
  Title: Executive Vice
  President

  	
   

  

 

	
  FIRSTCITY INTERNATIONAL
  CORPORATION

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
  Name: James C. Holmes

  	
   

  
	
   

  	
  Title: Executive Vice
  President

  	
   

  
	
   

  	
   

  	
   

  
	
  FIRSTCITY MEXICO, INC.

  	
   

  
	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
  Name: James C. Holmes

  	
   

  
	
   

  	
  Title: Executive Vice
  President

  	
   

  
	
   

  	
   

  	
   

  
	
  FIRSTCITY SERVICING
  CORPORATION

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
  Name: James C. Holmes

  	
   

  
	
   

  	
  Title: Executive Vice
  President

  	
   

  

 

	
  BOSQUE ASSET CORP.

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
  Name: James C. Holmes

  	
   

  
	
   

  	
  Title: Executive Vice
  President

  	
   

  
	
   

  	
   

  	
   

  

 

 

	
  BOSQUE LEASING, L.P.

  	
   

  
	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
  Name: James C. Holmes

  	
   

  
	
   

  	
  Title: Executive Vice
  President

  	
   

  
	
   

  	
   

  	
   

  
	
  BOSQUE LEASING GP CORP.

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
  Name: James C. Holmes

  	
   

  
	
   

  	
  Title: Executive Vice
  President

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00136-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00136-of-00352.parquet"}]]