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Prepared by MERRILL CORPORATION

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EXHIBIT 10.33(c)    
  

 
 

AMENDMENT NUMBER TWO
  to the
  Warehouse Loan and Security Agreement
  dated as of February 10, 2000,
  as Amended and Restated to and including January 24, 2001
  Among
  AAMES CAPITAL CORPORATION,

  AAMES FUNDING CORPORATION
  and
  GREENWICH CAPITAL FINANCIAL PRODUCTS, INC.    

    This
AMENDMENT NUMBER TWO (this "Amendment") is made this 30th day of March, 2001, among AAMES CAPITAL CORPORATION, AAMES FUNDING
CORPORATION (each, a "Borrower" and collectively, the "Borrowers") and GREENWICH CAPITAL FINANCIAL
PRODUCTS, INC. ("Lender") to the WAREHOUSE LOAN AND SECURITY AGREEMENT, dated as of February 10, 2000, as Amended and Restated to and
including January 24, 2001 between Lender and Borrowers (the "Loan Agreement"). 

 
 

RECITALS    
  

    WHEREAS, Borrowers have requested that Lender agree to the amendments to the Loan Agreement as set forth herein; and 

    WHEREAS,
Lender has consented to such amendments to the Loan Agreement as set forth herein. 

    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 March 30, 2001, the definition of "Tangible Net Worth" in Section 1.01 of the Loan Agreement is hereby deleted in its entirety and replaced
with the following: 

"Tangible Net Worth" shall mean, with respect to any Person, as of any date of determination, the consolidated Net Worth of such Person and its
Subsidiaries, less the consolidated net book value of all assets of such Person and its Subsidiaries (to the extent reflected as an asset in the balance sheet of such Person or any Subsidiary at such
date) which will be treated as intangibles under GAAP; provided, that residual securities issued by such Person or its Subsidiaries shall not be treated as intangibles for purposes of this definition. 

    SECTION
2. Fees and Expenses. Borrowers agree to pay to Lender all fees and out of pocket expenses incurred by Lender in connection
with this Amendment (including all reasonable fees and out of pocket costs and expenses of the Lender's legal counsel incurred in connection with this Amendment Number Two), in accordance with
Section 10.03 of the Loan Agreement 

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

    SECTION
4. Representations. In order to induce the Lender to execute and deliver this Amendment Number Two, the Borrowers hereby
represent to the Lender that as of the date hereof, after giving effect to this Amendment Number Two, the Borrowers are in full compliance with all of the terms and conditions of the Loan Agreement. 

    SECTION
5. Limited Effect. Except as expressly amended and modified by this Amendment, the Loan Agreement shall continue in full force
and effect in accordance with its terms. Reference to this Amendment Number Two need not be made in the Loan 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 Loan Agreement, any reference in any of such items to the
Loan Agreement being sufficient to refer to the Loan Agreement as amended hereby. 

    SECTION
6. Governing Law. THIS AMENDMENT NUMBER TWO 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. 

    SECTION
7. Counterparts. This Amendment Number Two 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] 

2

 

    IN WITNESS WHEREOF, Borrowers and Lender have caused this Amendment Number Two to be executed and delivered by their duly authorized officers as of the day and year first above
written. 

	 	 	AAMES CAPITAL CORPORATION
	 	 	    Borrower
	

 	
 	

By:	

 Name: John Kohler

Title: Executive Vice President
	

 	
 	
AAMES FUNDING CORPORATION
	 	 	    Borrower
	

 	
 	

By:	

 Name: John Kohler

Title: Executive Vice President
	

 	
 	
GREENWICH CAPITAL FINANCIAL PRODUCTS, INC.,
	 	 	    Lender
	

 	
 	

By:	

 
	 	 	 	
Name:  
Title:  

Acknowledged and Agreed:  

AAMES FINANCIAL CORPORATION  

By:

Name:  John
Kohler

Title:  Executive Vice President 

3

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EXHIBIT 10.33(c)

AMENDMENT NUMBER TWO to the Warehouse Loan and Security Agreement dated as of February 10, 2000, as Amended and Restated to and including January 24, 2001 Among AAMES CAPITAL CORPORATION, AAMES FUNDING CORPORATION
and GREENWICH CAPITAL FINANCIAL PRODUCTS, INC.

RECITALSPrepared by MERRILL CORPORATION

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EXHIBIT 10.33(e)    
  

 
 

AMENDMENT NUMBER ONE
  to the
  Guaranty
  dated as of January 24, 2001
  made by
  AAMES FINANCIAL CORPORATION
  in favor of
  GREENWICH CAPITAL FINANCIAL PRODUCTS, INC.    

    This
AMENDMENT NUMBER ONE (this "Amendment") is made as of this 30th day of March, 2001, by and between AAMES FINANCIAL CORPORATION
("Guarantor") and GREENWICH CAPITAL FINANCIAL PRODUCTS, INC. (the "Lender"), to the GUARANTY,
dated as of January 24, 2001, made by the Guarantor in favor of Lender (the "Guaranty"). 

RECITALS  

    WHEREAS, Guarantor has requested that Lender agree to the amendments to the Guaranty as set forth herein; and 

    WHEREAS,
Lender has consented to such amendments to the Guaranty as set forth herein. 

    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 March 30, 2001, clause (i) of Section 3(b) of the Guaranty is hereby deleted in its entirety and replaced with the following: 

    "(i) Maintenance of Tangible Net Worth. The Tangible Net Worth of the Guarantor, on a consolidated basis and on any
given day, shall be not less than (A) $37,000,000 prior to January 1, 2002, and (B) $34,000,000, thereafter;" 

    SECTION
2. Effective as of March 30, 2001, clause (ii) of Section 3(b) of the Guaranty is hereby deleted in its entirety and replaced with the following: 

    "(ii) Maintenance of Ratio of Total Indebtedness to Tangible Net Worth. The Guarantor shall not permit the ratio of
Total Indebtedness (not taking into account the aggregate outstanding amount borrowed by the Guarantor under any secured financing facilities for which adequate collateral has been pledged thereunder
by the Guarantor) to Tangible Net Worth, on a consolidated basis and on any given day, to be greater than 10:1;" 

    SECTION
3. Effective as of March 30, 2001, clause (iii) of Section 3(b) of the Guaranty is hereby modified by deleting the reference to "$15,000,000" therein and
replacing it with "$17,500,000". 

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

    SECTION
5. Representations. In order to induce Lender to execute and deliver this Amendment, the Guarantor hereby represents to Lender
that as of the date hereof, after giving effect to this Amendment, the Guarantor is in full compliance with all of the terms and conditions of the Guaranty. 

    SECTION
6. Limited Effect. Except as expressly amended and modified by this Amendment, the Guaranty shall continue in full force and
effect in accordance with its terms. Reference to this Amendment need not be made in the Guaranty 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 Guaranty, any reference in any of such items to the Guaranty being sufficient to refer to the Guaranty as amended hereby. 

 

    SECTION 7. Governing Law. THIS AMENDMENT 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. 

    SECTION
8. Counterparts. This Amendment 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] 

2

 

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

	 	 	AAMES FINANCIAL CORPORATION,
	 	 	  Guarantor
	

 	
 	

By:	

Name:
Title:

	 	 	GREENWICH CAPITAL FINANCIAL PRODUCTS, INC.,
	 	 	  LENDER
	

 	
 	
By:	

Name:
Title:

3

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EXHIBIT 10.33(e)

AMENDMENT NUMBER ONE to the Guaranty dated as of January 24, 2001 made by AAMES FINANCIAL CORPORATION in favor of GREENWICH CAPITAL FINANCIAL PRODUCTS, INC.EXHIBIT 4.5

NUMBER                                                            SHARES

C08955

PIVOTAL                                                    CUSIP  72581R  10  6

            INCOPORATED IN THE PROVINCE OF BRITISH COLUMBIA

    -------------------------------------------------------------------------
    -  This certifies that                                                  -
    -                                                                       -
    -                                                                       -
    -                          SPECIMEN                                     -
    -                                                                       -
    -                                                                       -
    - is the registered holder of                                           -
    -                                                                       -
    -------------------------------------------------------------------------
 FULLY PAID AND NON-ASSESSABLE COMMON SHARES WITHOUT PAR VALUE IN THE CAPITAL OF

                               PIVOTAL CORPORATION

subject to the  Memorandum and Articles of the Company  transferable only on the
books of the  Company by  endorsement  and  surrender of this  certificate. This
certificate is not valid until countersigned and registerd by the Transfer Agent
and Registrar of the Company.

     In Witness  Whereof the Company has caused this certificate to be signed by
the facsimile signatures of its duly  authorized  officers at Vancouver, British
Columbia.

         Dated:
                            /s/ Diane S. Malaher        /s/ N. Francis
                           ---------------------       --------------------
                            Secretary                  President

The Shares  represented by this  Certificate are  transferable at the offices of
CIBC Mellon Trust Company,  Vancouver,  B.C. or Toronto,  Ontario or at American
Stock Transfer & Trust Company, New York, N.Y.

[Written vertically on left side of certificate]
Countersigned and Registered
American Stock Transfer & Trust Company                      New York, N.Y.
Transfer Agent and Registrar

By ______________________________________________
          Authorized Officer

[Written vertically on right side of certificate]

Countersigned and Registered CIBC Mellon Trust Company       Vancouver
Transfer Agent and Registrar                                 Toronto

By ____SPECIMEN__________________________________
         Authorized Officer

<PAGE>

     The Company will furnish to any  shareholder without charge upon request to
the  Transfer  Agent named on the face of this  Certificate  a statement  of the
powers, designations, preferences and relative, participating, optional or other
special rights of each class of shares or series thereof and the qualifications,
limitations or restrictions of such preferences and/or rights.

     The following  abbreviations, when used in the  inscription  on the face of
this  Certificate,  shall be  construed  as though they were written out in full
according to applicable laws or regulations:

<TABLE>
<S>                                             <C>                                  <C>

TEN COM - as tenants in common             UNIF GIFT MIN ACT- ______ Custodian ________
TEN ENT - as tenant by the entireties                         (Cust)           (Minor)
JT TEN  - as joint tenants with right of                      under Uniform Gift to Minors
          survivorship and not as tenants                     Act ______________
          in common                                                (State)
</TABLE>

    Additonal abbreviations may also be used though not in the above list.

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto

Please insert social security or other
identifying number of assignee

------------------
-                -
------------------

_______________________________________________________________________________
                       (Name and address of transferor)

_______________________________________________________________________________

__________________________________________________________________common shares
registered in the name of the undersigned on the books of the  Company named on
the face of this Certificate and represented hereby, irrevocably constitutes and
appoints

________________________________________________________________the attorney of
the undersigned to transfer the said common shares on the register of transfers
and books of the Company with full power of substitution hereunder.

Dated:

___________________________________       ____________________________________
    (Signature of Witness)                      (Signature of Shareholder)

NOTICE: THE SIGNATURE OF THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS
        WRITTEN UPON THE FACE OF THE CERTIFICATE, IN EVERY PARTICULAR, WITHOUT
        ALTERATION OR ENLARGEMENT, OR ANY CHANGE WHATEVER.

The signature(s) must be guaranteed by an eligible guarantor  institution (Bank,
Stockbroker, Savings and Loan Associations and Credit Unions with membership in
an approved Signature guarantee  Medallion Program), pursuant to S.E.C. Rule 17
Ad-15.

Signature Guaranteed By: ______________________________________________________

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