Document:

Corporate Template

EXHIBIT 10.1
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AMENDMENT NO. 2
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SECOND AMENDED AND RESTATED
MORTGAGE BANKING SERVICES AGREEMENT
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Amendment No. 2 to Second Amended and Restated Mortgage Banking Services Agreement, dated as of September 28, 2022 (the “Amendment”), by and between PennyMac Loan Services, LLC, a Delaware limited liability company (the “Service Provider”), and PennyMac Corp., a Delaware corporation (the “Company”), and effective as of October 1, 2022.
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RECITALS
WHEREAS, the Service Provider and the Company are parties to that certain Second Amended and Restated Mortgage Banking Services Agreement, dated as of June 30, 2020 (the “Existing MBS Agreement” and, as amended by this Amendment, the “MBS Agreement”). Capitalized terms used but not otherwise defined herein shall have the meanings given to them in the Existing MBS Agreement.
WHEREAS, the Service Provider and the Company have agreed, subject to the terms and conditions of this Amendment, that the Existing MBS Agreement be amended to reflect certain agreed upon revisions to the terms of the Existing MBS Agreement.
NOW, THEREFORE, in consideration of the mutual premises and mutual obligations set forth herein, the Service Provider and the Company hereby agree that the Existing MBS Agreement is hereby amended as follows:
SECTION 1.Amendments to Article 3.  
1.1Section 3.03 (xxvi) is hereby amended by deleting it in its entirety and replacing it with the following:
purchasing from the Company at the Purchase Price, on an “as is” basis and without recourse of any kind, any Ginnie Mae Mortgage Loan or, in the discretion of the parties, any Fannie Mae Mortgage Loan or Freddie Mac Mortgage Loan purchased by the Company from a Correspondent pursuant to the related Loan Commitment;  and
1.2Section 3.04 is hereby amended by deleting it in its entirety and replacing it with the following:
Mortgage Loan Repurchases. In connection with any Mortgage Loan purchased from the Company by the Service Provider and in respect of which the Company has a claim for repurchase, indemnity or otherwise as against a Correspondent, the Service Provider shall be entitled to pursue any such claim through or in the name of the Company, and the Company agrees to facilitate any such claim. Any action taken by the Service Provider under this Section 3.04 shall be at the Service Provider’s sole cost and expense, and any costs, expenses or losses of any kind incurred by the Company shall be reimbursed in full by the Service Provider.

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SECTION 2.Amendments to Exhibit A. Exhibit A of the Existing MBS Agreement is hereby amended by deleting it in its entirety and replacing it with the form attached hereto as Exhibit A.
SECTION 3.Conditions Precedent. This Amendment shall become effective as of the date first set forth above (the “Amendment Effective Date”), subject to the satisfaction of the following conditions precedent:
3.1Delivered Documents. On the Amendment Effective Date, each party shall have received the following documents, each of which shall be satisfactory to such party in form and substance:
(a)this Amendment, executed and delivered by duly authorized officers of the Service Provider and the Company; and
(b)such other documents as such party or counsel to such party may reasonably request.
SECTION 4.Representations and Warranties. Each party represents that it is in compliance in all material respects with all the terms and provisions set forth in the Existing MBS Agreement on its part to be observed or performed.
SECTION 5.Limited Effect. Except as expressly amended and modified by this Amendment, the Existing MBS Agreement shall continue to be, and shall remain, in full force and effect in accordance with its terms. 
SECTION 6.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. 
SECTION 7.Counterparts. This Amendment may be executed in one or more counterparts and by different parties hereto on separate counterparts, each of which, when so executed, shall constitute one and the same agreement.
SECTION 8.Conflicts. The parties hereto agree that in the event there is any conflict between the terms of this Amendment, and the terms of the Existing MBS Agreement, the provisions of this Amendment shall control.
[SIGNATURE PAGE FOLLOWS]
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IN WITNESS WHEREOF, the parties have caused their names to be signed hereto by their respective officers thereunto duly authorized as of the day and year first above written.
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	The Service Provider:
	PENNYMAC LOAN SERVICES, LLC

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By: /s/ Douglas E. Jones​ ​
Name: Douglas E. Jones
Title:   President and Chief Mortgage 
            Banking Officer
	The Company:
	PENNYMAC CORP.
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By: /s/ Daniel S. Perotti​ ​
Name:  Daniel S. Perotti
Title:   Senior Managing Director and
            Chief Financial Officer
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EXHIBIT A
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(Compensation)
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Fulfillment Fees
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The aggregate Fulfillment Fees for Mortgage Loans during any fiscal quarter, commencing on and after October 1, 2020, shall not exceed: 
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(a) the product of (i) the number of Mortgage Loans with respect to which the Company issues Loan Commitments during such quarter, (ii) a factor of either .99 or .80 (representing the estimated pull through rate) depending on whether the Loan Commitments are subject to a “mandatory trade confirmation” or a “best efforts lock confirmation,” respectively, and (iii) (A) $585.00 for each pull-through adjusted Loan Commitment issued during such quarter up to and including a total of 16,500, and (B) $355.00 for each pull-through adjusted Loan Commitment issued during such quarter in excess of 16,500, the payment of which shall made no later than the end of the calendar month following the calendar month of such Loan Commitments, plus 
(b) (I) for the first 16,500 Mortgage Loans that are purchased by the Company from an approved Correspondent during such quarter (the “Tier 1 Purchased Loans”), funding fees in an amount no greater than the product of (i) $315.00, and (ii) the number of such Tier 1 Purchased Loans, plus (II) for all Mortgage Loans purchased in excess of 16,500 during such quarter (the “Tier 2 Purchased Loans”), funding fees in an amount no greater than the product of (i) $195.00, and (ii) the number of such Tier 2 Purchased Loans, the payment of which shall be made no later than the end of the calendar month following the calendar month in which such Purchased Loans were purchased by the Company; plus
(c) in the case of all Mortgage Loans other than Fannie Mae Mortgage Loans and Freddie Mac Mortgage Loans that are purchased by the Company from an approved Correspondent during such quarter, supplemental fees in an amount no greater than the product of (i) $750.00, and (ii) the number of such Mortgage Loans sold and securitized, the payment of which shall be made no later than the end of the calendar month following the calendar month in which such Mortgage Loan was sold or securitized. 
To the extent any Loan Commitments issued prior to July 1, 2020 result in the funding of Mortgage Loans on or after July 1, 2020, the aggregate Fulfillment Fees for all such Mortgage Loans purchased from an approved Correspondent shall equal (a) no greater than the product of (i) 0.35% and (ii) the aggregate initial unpaid principal balance (the “Initial UPB”) of all such Mortgage Loans purchased in such month, the payment of which shall made no later than the end of the calendar month following the calendar month in which such Mortgage Loan was purchased, plus (b) in the case of all Mortgage Loans other than Fannie Mae Mortgage Loans and Freddie Mac Mortgage Loans, no greater than the product of (i) 0.50% and (ii) the aggregate Initial UPB of all such Mortgage Loans sold and securitized in any month, the payment of which shall be made 

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no later than the end of the calendar month following the calendar month in which such Mortgage Loan was sold or securitized.
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No Fulfillment Fee shall be due or payable to the Service Provider with respect to the following: (i) any Ginnie Mae Mortgage Loan; (ii) any Fannie Mae Mortgage Loan or Freddie Mac Mortgage Loan acquired from the Company by the Service Provider pursuant to Section 3.03(xxvi); or (iii) any Mortgage Loan acquired from the Servicer Provider.
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For the purposes of this Exhibit A, “mandatory trade confirmation” and “best efforts lock confirmation” shall have the meanings ascribed to them in the PennyMac Guide.
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Early Purchase Program Fees
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With respect to each Early Purchase Program, the Service Provider shall be entitled to fees that accrue (a) at a rate equal to $1,500 per annum, and (b) in the amount of $35 with respect to each Mortgage Loan purchased by the Company thereunder. The fee described in clause (a) shall accrue and be payable monthly not later than the last Business Day of each month from and after the execution of the Early Purchase Program documentation. The fee described in clause (b) shall accrue and be payable monthly not later than the fifth (5th) Business Day following the month during which the related Mortgage Loan first becomes subject to a transaction thereunder.

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Exhibit 4.10
SUPPLEMENTAL INDENTURE
THIS SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of September 9, 2022, among DHC Fremont LLC, SNH Park Place Tenant I LLC and SNH Park Place Tenant II LLC, each a Maryland limited liability company, SNH NS Mtg Properties 2 Trust, a Maryland real estate investment trust, and SNH Park Place I Inc. and SNH Park Place II Inc., each a Maryland corporation (together, the “Additional Subsidiary Guarantors”), each a subsidiary of Diversified Healthcare Trust, a real estate investment trust organized and existing under the laws of the State of Maryland (the “Company”), the Company and U.S. Bank Trust Company, National Association (as successor in interest to U.S. Bank National Association), a national banking organization organized and existing under the laws of the United States (the “Trustee”).
W I T N E S S E T H
WHEREAS, the Company (then known as Senior Housing Properties Trust) and the Trustee are parties to an Indenture (the “Base Indenture”), dated as of February 18, 2016 (as supplemented by that certain Third Supplemental Indenture (the “Third Supplemental Indenture”), dated as of June 2, 2020, among the Company, the Initial Subsidiary Guarantors party thereto and the Trustee, providing for the issuance of the Company’s 9.750% Senior Notes due 2025 (the “Notes”), as supplemented by that certain Supplemental Indenture, dated as of March 5, 2021, among the Company, the Subsidiary Guarantors party thereto and the Trustee, and as from time to time hereafter further amended, supplemented or otherwise modified so far as it applies to the Notes, the “Indenture”);
WHEREAS, the Indenture provides that under certain circumstances the Additional Subsidiary Guarantors shall execute and deliver to the Trustee a supplemental indenture pursuant to which the Additional Subsidiary Guarantors will fully and unconditionally guarantee the Notes, jointly and severally with all of the other Subsidiary Guarantors, on the terms and conditions set forth herein;
WHEREAS, all acts and requirements necessary to make this Supplemental Indenture the legal, valid and binding obligation of the Company, each Additional Subsidiary Guarantor and the Trustee have been done; and
WHEREAS, pursuant to Section 901 of the Base Indenture, the Trustee is authorized to execute and deliver this Supplemental Indenture.
NOW THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Company, the Additional Subsidiary Guarantors and the Trustee mutually covenant and agree as follows:
1.    CAPITALIZED TERMS.  Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture.
2.    AGREEMENT TO GUARANTEE.  Each Additional Subsidiary Guarantor hereby agrees that its obligations to the Holders and the Trustee pursuant to the Subsidiary Guarantee shall be as expressly set forth in Article 6 of the Third Supplemental Indenture and in such other provisions of the Indenture as are applicable to the Subsidiary Guarantors (including, without limitation, Article 3 of the Third Supplemental Indenture), and reference is made to the Indenture for the precise terms of this Supplemental Indenture. The terms of Article 6 of the Third Supplemental Indenture and such other provisions of the Indenture (including, without limitation, Article 3 of the Third Supplemental Indenture) as are applicable to the Subsidiary Guarantors are incorporated herein by reference.
3.    THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.
4.    COUNTERPARTS.  The parties may sign any number of copies of this Supplemental Indenture.  Each signed copy shall be an original, but all of them together represent the same agreement.
5.    EFFECT OF HEADINGS.  The Section headings herein are for convenience only and shall not affect the construction hereof.
6.    THE TRUSTEE.  The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by the Additional Subsidiary Guarantors and the Company.
[Remainder of page intentionally left blank.]

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

COMPANY:

DIVERSIFIED HEALTHCARE TRUST

By: /s/ Richard W. Siedel, Jr.                         
Name: Richard W. Siedel, Jr.
Title:  Chief Financial Officer and Treasurer

ADDITIONAL SUBSIDIARY GUARANTORS:

DHC FREMONT LLC
SNH NS MTG PROPERTIES 2 TRUST
SNH PARK PLACE I INC.
SNH PARK PLACE II INC.
SNH PARK PLACE TENANT I LLC
SNH PARK PLACE TENANT II LLC

By: /s/ Richard W. Siedel, Jr.                         
Name: Richard W. Siedel, Jr.
Title:  Chief Financial Officer and Treasurer
[Signature Page to Supplemental Indenture for 9.750% Senior Notes due 2025 (September 2022)]

TRUSTEE:

U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Trustee

By: /s/ David W. Doucette                             
Name: David W. Doucette
Title:  Vice President

[Signature Page to Supplemental Indenture for 9.750% Senior Notes due 2025 (September 2022)]

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