Document:

exv10w2

 

Exhibit 10.2

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We consent to the incorporation by reference in (i) the Registration Statements filed on Form F-3
(File Nos. 333-84226, 333-128361, 333-129962 and 333-130040) of
ING Groep N.V. and (ii) the Registration Statements on Form S-8 (File Nos: 333-11368, 333-11414,
333- 13038, 333-13664, 333-13668, 333-14254, 333-14252, 333-81564,
333-92220, 333-108833, 333-125075, 333-137354 and 333-149631) of ING Groep N.V. of our report dated
March 17, 2008, with respect to the consolidated financial statements of ING Bank N.V. (not
included herein), which report appears in this December 31, 2007 annual report on Form 20-F of ING
Groep N.V.

Amsterdam, The Netherlands

March 17, 2008

/s/ KPMG ACCOUNTANTS N.V.exv10w3

 

Exhibit 10.3

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We consent to the incorporation by reference in (i) the Registration Statements filed on Form F-3
(File Nos. 333-84226, 333-128361, 333-129962 and 333-130040) and in any related Prospectus and (ii)
the Registration Statements on Form S-8 (File Nos: 333-11368, 333-11414, 333- 13038, 333-13664,
333-13668, 333-14254, 333-14252, 333-81564, 333-92220, 333-108833, 333-125075, 333-137354 and
333-149631) of our report dated March 10, 2008, with respect to the consolidated financial
statements of ING Belgium SA/NV (not included herein), which report appears in this December 31,
2007 Annual Report (Form 20-F) of ING Groep N.V.

Brussels, Belgium

March 17, 2008

Ernst & Young Reviseurs d’Entreprises SCCRL

represented by

	 	 	 
	 
	 	 
	Marc Van Steenvoort

	 	Pierre Anciaux
	 
	 	 
	Partner

	 	PartnerExhibit 10.1
    

    

    

    
      AMENDMENT NUMBER ONE
to the
MASTER REPURCHASE AGREEMENT
Dated
      as of March 14, 2008
by and among
DB STRUCTURED PRODUCTS, INC.
DEUTSCHE
      BANK SECURITIES, INC.
and
CHIMERA INVESTMENT CORP.

    

    

    

    
      This AMENDMENT NUMBER ONE is made this 14th day of March,
      2008 ("Amendment Number One"), by and among DB Structured
      Products, Inc. ("Buyer") and Deutsche Bank Securities, Inc.
      ("Agent"), each having an address at 60 Wall Street, New
      York, NY 10005 and Chimera Investment Corp., a Maryland corporation,
      having an address at 1211 Avenue of the Americas, New York, New York
      10036 ("Seller"), to the Master Repurchase Agreement, dated
      as of January 31, 2008, by and among the Buyers and the Seller (as
      amended, supplemented or otherwise modified from time to time, the "Agreement").
    

    

    

    
      RECITALS
    

    

    

    
      WHEREAS, Seller has requested that Buyer and Agent agree to revise the
      liquidity covenant, and Buyer and Agent have agreed to such request,
      contingent on Seller’s satisfaction of certain conditions set forth
      below and compliance with the terms and provisions contained herein;.
    

    

    

    
      WHEREAS, as of the date hereof (after giving effect to the amendments
      contemplated hereby), Seller represents to Buyer and Agent that it is in
      compliance with all of the representations and warranties and all of the
      affirmative and negative covenants set forth in the Program Documents
      and no default has occurred and is continuing under any Program
      Documents to which it is a party; and
    

    

    

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

    

    

    
      SECTION 1. Amendments. Effective as of the date set forth
      hereinabove (but subject to the satisfaction in full of the conditions
      precedent set forth in Section 2 below), the Agreement is hereby amended
      as follows:
    

    

    

    
      (a)  Section 14(g)(ii)(C) is hereby deleted in its entirety replaced
      with the following:
    

    

    

    
       (C)   Seller shall at all times maintain Unrestricted Cash at least
      equal to, $40,000,000 for the period commencing March 14, 2008 to and
      including March 26, 2008, and thereafter, the greater of (i),
      $100,000,000, and (ii) three percent (3%) of the unpaid principal
      balance, the face value or the carrying value, as applicable, of all
      assets of Seller that are subject to any repurchase or secured credit
      arrangement to which Seller is a party; and
    

    

    

    
      (b)  Section 14(h)(vii) is hereby deleted in its entirety replaced with
      the following:
    

    

    

    
       (vii)  a Material Margin Call shall have been made to Seller, which "Material
      Margin Call" shall mean any margin, maintenance, credit or similar
      call made to Seller in connection with a financing facility, repurchase
      agreement, credit agreement or other arrangement under which Seller has
      sold collateral or pledged or posted or is required to pledge or post
      collateral to secure or guarantee obligations thereunder; provided
      that notwithstanding anything herein to the contrary, Seller shall
      provide notice of any Material Margin Call on the same Business Day in
      which Seller obtains notice or knowledge of such Material Margin Call; provided
      further that from and after March 26, 2008, any such call shall
      be deemed a Material Margin Call hereunder only if the amount of such
      call is equal to or exceeds $10,000,000.
    

    
      
        

        

      

      
        
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      (c) Section (C) in the Monthly Certification (set forth as Exhibit A to
      the Agreement) shall be amended to conform to the changes made above to
      Section 14(g)(ii)(C).
    

    

    

    
      SECTION 2. Conditions Precedent. It is a condition precedent
      to the effectiveness of this Amendment Number One that any Margin Call
      made by Buyer under the Agreement that is outstanding as of the date
      hereof shall be satisfied in full in accordance with the requirements of
      Section 6(a) of the Agreement by no later than 1:00 p.m. (New York time)
      on the date hereof.
    

    

    

    
      SECTION 3. Additional Terms. In order to induce Buyer to
      execute and deliver this Amendment Number One, Seller hereby agrees as
      follows, notwithstanding anything in any Program Document to the
      contrary:
    

    

    

    
      (a) For the period commencing March 14, 2008 to and including March 26,
      2008, Buyer shall have no obligation to enter into any new Transactions;
    

    

    

    
      (b) For the period commencing March 14, 2008 to and including March 26,
      2008, Seller shall deliver to Buyer daily reports (in a format that is
      mutually acceptable to Buyer and Seller) setting forth Seller’s (i)
      liquidity status, (ii) mark to market positions and advance rates with
      respect to all loans and securities on Seller’s consolidated books, and
      (iii) any other information that Buyer reasonably requests. Seller shall
      be deemed to make the representation set forth in Section 13(h) of the
      Agreement upon delivery of each such report.
    

    

    

    
      (c) Seller acknowledges that it is contemplating the sale of Purchased
      Loans that are Conforming Loans with an aggregate, outstanding principal
      balance of approximately $40,000,000. Following the consummation of this
      sale, Seller agrees that Buyer shall have the right, exercisable in its
      sole discretion, to reduce the Par Percentage and MV Percentage with
      respect to each Purchased Asset and for any new Asset that may
      thereafter become subject to a Transaction by five percent (5%).
    

    

    

    
      (d) Seller shall grant to Buyer and its Affiliates the right to act as
      the lead underwriter in connection with the next securitization or other
      similar public or private pass-through disposition of any Loan sponsored
      by Seller or an Affiliate thereof, for a market-rate fee.
    

    

    

    
      Any breach of any of the foregoing covenants shall constitute an Event
      of Default under Section 19(c) of the Agreement, without any grace
      period.
    

    

    

    
      SECTION 4. Representations. In order to induce Buyer to execute
      and deliver this Amendment Number One, Seller hereby represents to Buyer
      that as of the date hereof (after giving effect to the amendments
      contemplated hereby), Seller is in full compliance with all of the terms
      and conditions of the Program Documents and no Default or Event of
      Default has occurred and is continuing under any of the Program
      Documents.
    

    
      
        

        

      

      
        
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      SECTION 5. Fees and Expenses.  Seller agrees to pay to
      Buyer all reasonable out of pocket costs and expenses incurred by Buyer
      in connection with this Amendment Number One (including all reasonable
      fees and out of pocket costs and expenses of Buyer’s legal counsel
      incurred in connection with this Amendment Number One) in accordance
      with Section 23(a) of the Agreement.
    

    

    

    
      SECTION 6. Defined Terms.  Any terms capitalized but not
      otherwise defined herein shall have the respective meanings set forth in
      the Agreement.
    

    

    

    
      SECTION 7. Limited Effect. Except as amended hereby, the
      Agreement shall continue in full force and effect in accordance with its
      terms. Reference to this Amendment Number One need not be made in the
      Agreement or any other instrument or document executed in connection
      therewith, or in any certificate, letter or communication issued or made
      pursuant to, or with respect to, the Agreement, any reference in any of
      such items to the Agreement being sufficient to refer to the Agreement
      as amended hereby.
    

    

    

    
      SECTION 8. No Waiver. Except as otherwise expressly provided
      for in this Amendment Number One, (i) nothing herein shall extend to or
      affect in any way Seller’s obligations or any of the other rights of
      Buyer and remedies of Buyer arising under the Agreement, (ii) Buyer
      shall not be deemed to have waived or modified any or all of such other
      rights or remedies with respect to any default or event or condition
      which, with notice or the lapse of time, or both would become a default
      under the Agreement, (iii) the failure of Buyer at any time or times
      hereafter to require strict performance by Seller of any of the
      provisions, warranties, terms and conditions contained in the Agreement
      shall not waive, modify affect or diminish any right of Buyer at any
      time or times thereafter to demand strict performance thereof, and (iv)
      no rights of Buyer hereunder shall be deemed to have been waived or
      modified by any act or knowledge of Buyer, its officers or employees,
      unless such waiver or modification is contained in an instrument in
      writing signed by the appropriate officers of Buyer and directed to
      Seller specifying such waiver or modification.
    

    

    

    
      SECTION 9. Governing Law. This Amendment Number One shall be
      construed in accordance with the laws of the State of New York and the
      obligations, rights, and remedies of the parties hereunder shall be
      determined in accordance with such laws without regard to conflict of
      laws doctrine applied in such state (other than Section 5-1401 of the
      New York General Obligations Law).
    

    

    

    
      SECTION 10. Counterparts. This Amendment Number One 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.
    

    

    

    
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      IN WITNESS WHEREOF, Seller, Buyer, and Agent have caused this Amendment
      Number One to the Master Repurchase Agreement to be executed and
      delivered by their duly authorized officers as of the day and year first
      above written.
    

    

    

    
                                                                 CHIMERA
      INVESTMENT CORP., as Seller

    

    
                                                                 By:        /s/
      Matthew Lambiase                               

    

    
                                                                 Name:
           Mattthew Lambiase                               

    

    
                                                                 Title:
          President                                                    

    

    
      

      

    

    
                                                                 DB STRUCTURED
      PRODUCTS, INC., as Buyer

    

    
                                                                 By:        /s/
      Vincent D’Amore                                

    

    
                                                                 Name:
           Vincent D’Amore                                  

    

    
                                                                 Title:
          Authorized Signatory                               

    

    
      

    

    
                                                                 By:        /s/
      Glenn Minkoff                                      

    

    
                                                                 Name:
           Glenn Minkoff                                        

    

    
                                                                 Title:
          Director                                                      

    

    
      

      

    

    
                                                                 DEUTSCHE BANK
      SECURITIES, INC., as Agent

    

    
                                                                 By:        /s/
      Vincent D’Amore                                 

    

    
                                                                 Name:
           Vincent D’Amore                                   

    

    
                                                                 Title:
          Authorized Signatory

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