Document:

Amendment No. 5 to the Warehouse and Loan Security Agreement

 Exhibit 10.10F 
  
 AMENDMENT NUMBER FIVE 
 to the 
 Warehouse Loan and Security Agreement 
 Dated as of February 10, 2000 
 as Amended and Restated to and including February 4, 2005

 among 
 AAMES INVESTMENT
CORPORATION 
 AAMES CAPITAL CORPORATION 
 AAMES FUNDING CORPORATION 
 and 
 GREENWICH CAPITAL FINANCIAL PRODUCTS, INC. 
  
 This
AMENDMENT NUMBER FIVE is made this 31st day of October, 2005, among AAMES INVESTMENT CORPORATION, AAMES CAPITAL
CORPORATION, AAMES FUNDING CORPORATION, each having an address at 350 South Grand Avenue, Los Angeles, California 90071 (each, a “Borrower” and collectively, “the Borrowers”) and GREENWICH CAPITAL FINANCIAL
PRODUCTS, INC., having an address at 600 Steamboat Road, Greenwich, Connecticut 06830 (the “Lender”), to the Warehouse Loan and Security Agreement, dated as of February 10, 2000 as amended and restated to and including February
4, 2005, by and between the Borrowers and the Lender, as amended (the “Agreement”). Capitalized terms used but not otherwise defined herein shall have the meanings assigned to such terms in the Agreement. 
  
 RECITALS 
  
 WHEREAS, the Borrowers and the Lender have agreed to amend the Agreement to modify the Maintenance of Profitability
financial covenant as set forth herein. 
  
 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. Effective as of the date hereof, Section 7.14(a) of the Agreement is hereby amended by deleting the existing
Maintenance of Profitability covenant and replacing it with the following: 
  
 “(a) Maintenance of Profitability. Aames Investment shall not permit Net Income before tax, generated over any two consecutive fiscal quarters, measured on the last day of each fiscal quarter, to be less
than $1.00, commencing with respect to the two consecutive fiscal quarters ending on December 31, 2005.” 
  
 SECTION 2. Defined Terms. Any terms capitalized but not otherwise defined herein shall have the respective meanings set forth in the Agreement.

  
 SECTION 3. Limited Effect. Except as amended hereby,
the Agreement shall continue in full force and effect in accordance with its terms. Reference to this Amendment 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 4. Waiver. For the avoidance of doubt, upon execution of this
Amendment Number Five, the Borrowers and Lender agree that any non compliance or violation of Section 

 
7.14(a) on or after September 30, 2005 up to the date of this Amendment Number Five is hereby waived. 
  
 SECTION 5. Governing Law. This Amendment Number Five 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 Sections 5-1401 and 5-1402 of the New York General Obligations Law). 
  
 SECTION 6. Counterparts. This Amendment Number Five 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. 
  
 [REMAINDER OF THIS PAGE
LEFT INTENTIONALLY BLANK] 
  

 2 

 IN WITNESS WHEREOF, the Borrowers and the Lender have caused this Amendment Number Five 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:
	 	Jon D. Van Deuren
	 Title:
	 	Executive Vice President - Finance and Chief Financial Officer
	
	 AAMES FUNDING CORPORATION
 (Borrower)

		
	By:	 	 
	 Name:
	 	Jon D. Van Deuren
	 Title:
	 	Executive Vice President - Finance and Chief Financial Officer
	
	 AAMES INVESTMENT CORPORATION
 (Borrower)

		
	By:	 	 
	 Name:
	 	Jon D. Van Deuren
	 Title:
	 	Executive Vice President - Finance and Chief Financial Officer
	
	 GREENWICH CAPITAL FINANCIAL PRODUCTS. INC.
 (Lender)

		
	By:	 	 
	 Name:
	 	 
	 Title:Second Amendment to Master Repurchase Agreement Governing Purchases & Sales

 Exhibit 10.11C 
  
 SECOND AMENDMENT TO MASTER REPURCHASE AGREEMENT 
 GOVERNING PURCHASES AND SALES OF MORTGAGE LOANS 
  
 This Second Amendment, dated as of October 28, 2005 (the “Amendment”), to the Master Repurchase Agreement Governing Purchases and
Sales of Mortgage Loans, dated as of January 18, 2005 as amended by the First Amendment dated June 20, 2005 (the “Agreement”), is made by and between LEHMAN BROTHERS BANK, FSB (“Buyer”) and AAMES CAPITAL
CORPORATION (“ACC”) and AAMES INVESTMENT CORPORATION (“AIC”, collectively with ACC, “Seller” and, together with the Buyer, the “Parties”). Capitalized terms used in this Amendment
and not otherwised defined herein shall have the meaning set forth in the Agreement. 
  
 RECITALS 
  
 WHEREAS, the Seller
and the Buyer are parties to the Agreement, pursuant to which the Buyer has agreed, subject to the terms and conditions set forth in the Agreement, to purchase certain Mortgage Loans owned by the Seller, including, without limitation, all rights of
Seller to service and administer such Mortgage Loans. Terms used but not defined herein shall have the respective meanings ascribed to such terms in the Agreement, as amended hereby. 
  
 WHEREAS, the Parties wish to amend the Agreement to modify certain of the terms and conditions governing the purchase and
sale of the Mortgage Loans. 
  
 NOW, THEREFORE, for good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereto agree as follows: 
  
 Section 1. Amendment. 
  
 1.1 Effective as of September 30, 2005, Section 13(a)(xviii) of the Agreement is hereby deleted in its entirety and replaced with the following:

  
 “(xviii) for any two consecutive fiscal
quarters of AIC, commencing with respect to the two consecutive fiscal quarters ending on December 31, 2005 AIC and its Subsidiaries shall incur a loss on a consolidated basis in accordance with GAAP;” 
  
 Section 2. Covenants, Representations and Warranties of the
Parties. 
  
 2.1 Except as expressly amended by
Section 1 hereof, the Agreement remains unaltered and in full force and effect. Each of the Parties hereby reaffirms all terms and covenants made in the Agreement as amended hereby. 
  
 2.2 Each of the Parties hereby represents and warrants to the other that (a) this Amendment constitutes the legal,
valid and binding obligation of such Party, enforceable against such Party in accordance with its terms, and (b) the execution and delivery by such Party of this Amendment has been duly authorized by all requisite corporate action on the part
of such Party and will not violate any provision of the organizational documents of such Party. 
  
 Section 3. Effect upon the Agreement. 
  
 3.1 Except as specifically set forth herein, the Agreement shall remain in full force and effect and is hereby ratified and confirmed. All references to
the “Agreement” in the Master Repurchase Agreement 

  

 Second Amendment 
 October 28, 2005 
 1 

 
Governing Purchases and Sales of Mortgage Loans shall mean and refer to the Master Repurchase Agreement Governing Purchases and Sales of Mortgage Loans as
modified and amended hereby. 
  
 3.2 The execution, delivery and
effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of any Party under the Agreement, or any other document, instrument or agreement executed and/or delivered in connection therewith. 
  
 Section 4. Governing Law. 
  
 THIS AMENDMENT SHALL BE CONSTRUED, INTERPRETED AND GOVERNED BY THE LAW OF THE
STATE OF NEW YORK, WITHOUT GIVING EFFECT TO THE CONFLICT OF LAWS PRINCIPLES THEREOF. 
  
 Section 5. Counterparts. 
  
 This Amendment may be executed in any number of counterparts, and all such counterparts shall together constitute the same agreement. 
  
 [Remainder of Page Intentionally Left Blank] 
  

 Second Amendment 
 October 28, 2005 
 2 

 IN WITNESS WHEREOF, the Parties hereto have caused this Amendment to be executed as of the day and year
first above written. 
  

					
	 SELLER:
  
 AAMES CAPITAL CORPORATION, as Seller

		
	 By:
	 	 
	 	 	 Name:
	 	 
	 	 	 Title:
	 	 
	
	 AAMES INVESTMENT CORPORATION, as Seller

		
	 By:
	 	 
	 	 	 Name:
	 	 
	 	 	 Title:
	 	 
	
	 BUYER:
  
 LEHMAN BROTHERS BANK, FSB, as Buyer

		
	 By:
	 	 
	 	 	 Name:
	 	 
	 	 	 Title:
	 	 

  

 Second Amendment 
 October 28, 2005 
 3Amendment No. 2 to the Countrywide Commitment Letter

 Exhibit 10.12F 
  
 AMENDMENT NO. 2 TO 
 COMMITMENT LETTER 
  
 This AMENDMENT NO. 2 TO COMMITMENT
LETTER (the “Amendment”) is made and entered into as of November __, 2005 by and between Countrywide Warehouse Lending (“Lender”) and Aames Capital Corporation, Aames Funding Corporation, Aames Investment Corporation, and Aames
Financial Corporation (jointly, the “Borrower”). This Amendment amends that certain Commitment Letter by and between Lender and Borrower dated as of March 25, 2005 (the “Commitment Letter”), which supplements that certain
Revolving Credit and Security Agreement by and between Lender and Borrower dated as of July 1, 2003 (as may be amended from time to time, the “Credit Agreement”). 
  
 R E C I T A L S 
  
 Lender and Borrower have previously entered into the Commitment Letter and Credit Agreement pursuant to which Lender may, from time to time, provide
Borrower credit in the form of a warehouse line secured by residential mortgage loans. Lender and Borrower hereby agree that the Commitment Letter shall be amended as provided herein. 
  
 In consideration of the mutual promises contained herein, and for other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, Lender and Borrower hereby agree as follows: 
  

	1.	Financial Covenants. Section (e). Lender and Borrower agree that effective as of September 30, 2005 Financial Covenants Section (e) shall be deleted in its
entirety and replaced as follows: 

  

	 	“(e)	Net Income (as defined by GAAP): Positive when combining any two consecutive quarters with measurement commencing on December 31, 2005.” 

  

	2.	Waiver. Upon execution of the Amendment, Borrower and Lender agree that any non-compliance or violation of the Adjusted Leverage Ratio (Financial Covenant (b) of
the Commitment Letter and the Maximum Ratio of Total Liabilities to Tangible Net Worth (Financial Covenant (c) of the Commitment Letter) on or after August 1, 2005 and up to the date of the Amendment are hereby waived.

  

	3.	No Other Amendments; Conflicts with Previous Amendments. Other than as expressly modified and amended herein, the Commitment Letter shall remain in full force and
effect and nothing herein shall affect the rights and remedies of Lender as provided under the Commitment Letter and Credit Agreement. To the extent any amendments to the Commitment Letter contained herein conflict with any previous amendments to
the Commitment Letter, the amendments contained herein shall control. 

  

	4.	Capitalized Terms. Any capitalized term used herein and not otherwise defined herein shall have the meaning ascribed to such term in the Credit Agreement.

  

	5.	Facsimiles. Facsimile signatures shall be deemed valid and binding to the same extent as the original. 

  
 IN WITNESS WHEREOF, Lender and Borrower have caused their names to be signed hereto by their
respective officers thereunto duly authorized as of the date first written above. 
  

									
	COUNTRYWIDE WAREHOUSE LENDING	 	 	 	 AAMES CAPITAL CORPORATION

					
	 By:
	 	 	 	 	 	 By:
	 	 
	 	 	 Signature
	 	 	 	 	 	 Signature

	 Name:
	 	 	 	 	 	 Name:
	 	 Jon D. Van Deuren

	 Title:
	 	 	 	 	 	 Title:
	 	Executive Vice President and Chief Financial Officer

  
 (SIGNATURES CONTINUE ON
PAGE 2) 

									
	 AAMES FUNDING CORPORATION
	 	 	 	 AAMES INVESTMENT CORPORATION

					
	 By:
	 	 	 	 	 	 By:
	 	 
	 	 	 Signature
	 	 	 	 	 	 Signature

	 Name:
	 	 Jon D. Van Deuren
	 	 	 	 Name:
	 	 Jon D. Van Deuren

	 Title:
	 	Executive Vice President and Chief Financial Officer	 	 	 	 Title:
	 	Executive Vice President and Chief Financial Officer
			
	 AAMES FINANCIAL CORPORATION
	 	 	 	 
					
	 By:
	 	 	 	 	 	 	 	 
	 	 	 Signature
	 	 	 	 	 	 
	 Name:
	 	 Jon D. Van Deuren
	 	 	 	 	 	 
	 Title:
	 	Executive Vice President and Chief Financial Officer	 	 	 	 	 	 

  

 PAGE 2

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