Document:

Exhibit 10.4

Exhibit 10.4

(614) 480-4362

September 22, 2010

Franklin Credit Holding Corporation

Franklin Credit Management Corporation

101 Hudson Street, 25th Floor

Jersey City, New Jersey 07302

Attention: Thomas J. Axon, Chairman

Re: EBITDA Payment

Dear Tom:

Reference is hereby made to a certain letter agreement dated July 16, 2010, (the “July Letter
Agreement”) between and among Franklin Credit Holding Corporation, Franklin Credit Management
Corporation, Thomas J. Axon, The Huntington National Bank and Franklin Mortgage Asset Trust 2009-A.
Terms used in this letter agreement and not otherwise defined herein shall have the meanings
ascribed to such terms in the July Letter Agreement.

The Huntington National Bank hereby cancels and terminates the obligations to make any EBITDA
Payment as set forth in Paragraph No. 5 of Annex 1 to the July Letter Agreement.

This letter agreement will be governed by and construed in accordance with the laws of the
State of Ohio. This letter agreement may be executed in counterparts, each of which when so
executed and delivered shall be deemed an original, but all such counterparts together shall
constitute one and the same instrument.

	 	 	 	 	 
	 	Very truly yours,

THE HUNTINGTON NATIONAL BANK

 	 
	 	By:  	/s/
David L. Abshier	 
	 	 	David L. Abshier, Authorized SignerExhibit 10.5

Exhibit 10.5

Exhibit 5

PROMISSORY NOTE

					
	 	 	 	 	 
	$1,000,000.00
	 	Columbus, Ohio
	 	September 22, 2010

FOR VALUE RECEIVED, FRANKLIN CREDIT MANAGEMENT CORPORATION (“Maker”) promises to pay
to the order of The Huntington National Bank, as Administrative Agent (“Payee,” which term
shall include any holder hereof) for the benefit of the Lenders under the Credit Agreement (as
defined below), at such place as Payee may designate or, in the absence of such designation, at the
office of the Administrative Agent at 41 South High Street, Columbus, Ohio 43215, the sum of One
Million Dollars ($1,000,000.00) (hereinafter called the “Principal Sum”), together with
interest as hereinafter provided. Maker promises to pay the Principal Sum and the interest thereon
at the time and in the manner hereinafter provided in this promissory note (this “Note”).
Capitalized terms used and not defined herein shall adopt their respective meanings as set forth in
that a certain Amended and Restated Credit Agreement dated March 31, 2009, among The Huntington
National Bank, as Administrative Agent (the “Administrative Agent”), The Huntington
National Bank, Huntington Finance LLC, M&I Marshall & Ilsley Bank and BOS (USA) Inc., as Lenders,
and Franklin Credit Asset Corporation, Tribeca Lending Corp., Franklin Asset, LLC, and multiple
subsidiary borrowers, as Borrowers (as amended, modified, supplemented or restated from time to
time, the “Credit Agreement”).

This Note is issued in connection with that certain Restructure Agreement dated as of
September 22, 2010 (the “Restructure Agreement”, among, inter alia, Payee and Maker (as
amended, modified, supplemented or restated from time to time, the “Restructure
Agreement”).

Until the Maturity Date (as defined below), interest will accrue on the unpaid balance of the
Principal Sum until paid at the rate of 10% per annum; provided, however, if Maker
pays the Principal Sum to Payee on or before the November 22, 2010 (the “Maturity Date”),
no interest accruing under this Note shall be due and payable. All interest shall be calculated on
the basis of a 365 day year for the actual number of days the Principal Sum or any part thereof
remains unpaid.

The Principal Sum and any accrued interest shall be due and payable on the Maturity Date,
subject to the terms of this Note.

Any installment or other payment not made within 10 days of the date such payment or
installment is due shall be subject to a late charge equal to 5% of the amount of the installment
or payment.

This Note is guaranteed by Thomas J. Axon and secured by the Guarantor Collateral (as defined
in the Restructure Agreement), and the security interests, assignments, and mortgages as described
in the Restructure Agreement.

 

 

 

Upon the occurrence of any of the following events (each, an “Event of Default”):

(a) Maker fails to make any payment of interest or of the Principal Sum on or before the date
such payment is due;

(b) the failure of Maker, any obligor, guarantor, assignor, or mortgagor (each a “Loan
Party”) under any agreement or document delivered in connection with this Note or the Guarantor
Collateral (as defined in the Restructure Agreement) to perform any covenant, term, or agreement in
any instrument, mortgage, assignment or agreement evidencing, securing or related to any obligation
of Maker or other Loan Party to Payee;

(c) if any Loan Party shall fail to do all things reasonably necessary to preserve and
maintain the value and collectibility of the Guarantor Collateral;

(d) if the value of the Guarantor Collateral shall decline in any material respect, and Maker
shall fail to furnish immediately upon demand additional collateral satisfactory to Payee;

(e) if Maker shall fail to furnish true and complete financial statements from time to time on
request of Payee;

(f) the death or dissolution of Maker or any other Loan Party;

(g) if bankruptcy, reorganization, arrangement, insolvency, liquidation or receivership
proceedings are instituted by or against Maker or any other Loan Party under federal or state law;
or

(h) if any representation, warranty or other information given to Payee by any Loan Party
shall prove to be false, untrue or misleading in any material respect,

then Payee may, at its option, without notice or demand, accelerate the maturity of the obligations
evidenced hereby, which obligations shall become immediately due and payable. In the event Payee
shall institute any action for the enforcement or collection of the obligations evidenced hereby,
Maker agrees to pay all costs and expenses of such action, including reasonable attorneys’ fees, to
the extent permitted by law.

Additionally, upon the occurrence of an Event of Default, interest will accrue on the unpaid
balance of the Principal Sum and unpaid interest, if any, until paid at the rate of 15% per annum.

Maker, and any indorser, surety, or guarantor, hereby severally waive presentment, notice of
dishonor, protest, notice of protest, and diligence in bringing suit against any party hereto, and
consent that, without discharging any of them, the time of payment may be extended an unlimited
number of times before or after maturity without notice. Payee shall not be required to pursue any
party hereto, including any guarantor, or to exercise any rights against any collateral
herefor before exercising any other such rights.

 

 

 

The obligations evidenced hereby may from time to time be evidenced by another note or notes
given in substitution, renewal or extension hereof. Any security interest or mortgage which
secures the obligations evidenced hereby shall remain in full force and effect notwithstanding any
such substitution, renewal, or extension.

The captions used herein are for reference only and shall not be deemed a part of this Note.
If any of the terms or provisions of this Note shall be deemed unenforceable, the enforceability of
the remaining terms and provisions shall not be affected. This Note shall be governed by and
construed in accordance with the law of the State of Ohio.

MAKER HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE
OF ACTION (1) ARISING UNDER THIS NOTE OR ANY OTHER INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR
DELIVERED IN CONNECTION HEREWITH, OR (2) IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE
DEALINGS OF MAKER OR PAYEE WITH RESPECT TO THIS NOTE OR ANY OTHER INSTRUMENT, DOCUMENT OR AGREEMENT
EXECUTED OR DELIVERED IN CONNECTION HEREWITH, OR THE TRANSACTIONS RELATED HERETO OR THERETO, IN
EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER SOUNDING IN CONTRACT OR TORT OR
OTHERWISE; AND MAKER HEREBY AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF
ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY, AND THAT MAKER OR PAYEE MAY FILE AN ORIGINAL
COUNTERPART OR A COPY OF THIS SECTION WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF MAKER TO
THE WAIVER OF THE RIGHT OF MAKER TO TRIAL BY JURY.

[Signature Page Follows]

 

 

 

	 	 	 	 	 	 	 	 	 
	 	 	Maker:	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	FRANKLIN CREDIT MANAGEMENT CORPORATION	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	/s/ Thomas J. Axon 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Printed Name:
	 	Thomas J. Axon	 	 
	 

	 	 	 	Title:
	 	PresidentExhibit 10.6

Exhibit 10.6

AMENDMENT NO. 2 TO

AMENDED AND RESTATED CREDIT AGREEMENT 

THIS AMENDMENT NO. 2 TO AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”) is entered
into this 22nd day of September, 2010 (the “Amendment Effective Date”), by and among
FRANKLIN CREDIT ASSET CORPORATION, a Delaware Corporation (“Franklin Asset”), TRIBECA LENDING
CORP., a New York corporation (“Tribeca”), Franklin Asset, LLC, a Delaware limited liability
company (“FCAC Subco”) and the other BORROWERS listed on Schedule 1 hereto (together with
Franklin Asset, Tribeca and FCAC Subco, each, a “Borrower” and collectively, the “Borrowers”), and
THE HUNTINGTON NATIONAL BANK, a national banking association (“Huntington”) as administrative agent
for the Lenders (as defined in the Credit Agreement defined below), in such capacity, and together
with its successors and assigns in such capacity, the “Administrative Agent”).

This Amendment amends and modifies a certain Amended and Restated Credit Agreement dated as of
March 31, 2009 (as amended, supplemented, restated, or otherwise modified from time to time prior
to the date hereof, the “Credit Agreement”) by and among the Borrowers, the Lenders and the
Administrative Agent. Capitalized terms used in this Amendment and not otherwise defined herein
shall have the meanings ascribed to such terms in the Credit Agreement.

RECITALS:

A. As of March 31, 2009, the Borrowers, the Lenders and the Administrative Agent executed the
Credit Agreement, amending and restating the terms of certain extensions of credit to the Borrowers
and reaffirming all Loan Documents entered into or delivered prior to such date; and

B. Certain Affiliates of the Borrowers, Franklin Credit Management Corporation
(“FCMC”) and Franklin Credit Holding Corporation (“Holding”), have granted security
interests or Mortgages on certain Release Collateral (as defined below) owned by such Affiliates
pursuant to the Loan Documents executed and delivered in connection with the Credit Agreement or a
credit facility to such Affiliates extended by The Huntington National Bank. “Release
Collateral” means (i) the Pledged Interests in FCMC, (ii) certain real property interests
commonly known as (A) 6 Harrison Street, Unit 6, New York, New York, and (B) 350 Albany Street, New
York, New York (together, the “FCMC Real Property”), and (iii) up to $650,000 in cash
collateral held as security for a credit facility to such Affiliates extended by Huntington and HF
(and subject to a second Lien and security interest in favor of the Administrative Agent). In
addition, (i) FCMC executed and delivered to the Administrative Agent a certain Limited Recourse
Guaranty, dated as of March 31, 2009 (the “FCMC Limited Recourse Guaranty”), and (ii)
Holding executed and delivered to the Administrative Agent a certain Limited Recourse Guaranty,
dated as of March 31, 2009 (the “Holding Limited Recourse Guaranty”); and

 

 

 

C. In connection with (i) a proposed purchase of substantial portions of the Mortgage Loans
which are subordinate lien Mortgage Loans (the “Subordinate Loan Sale”) by an Affiliate
of the Borrowers, and (ii) the sale, restructuring or spin off (the “Restructuring”)
by Holding of its ownership interests in FCMC, FCMC and Holding have requested that the
Administrative Agent (w) release its Liens and Mortgages in the Release Collateral; provided,
however, that such Mortgages in the FCMC Real Property shall remain in full force and effect until
the TJA Secured Note is indefeasibly paid in full, (x) discharge FCMC from any liability under the
FCMC Limited Recourse Guaranty and amend the Holding Limited Recourse Guaranty, (y) consent to a
change of control of FCMC and (z) waive any Events of Default resulting from the Restructuring, in
exchange for (A) certain payments identified in restructuring agreements (the “Release
Payments”) made to the Administrative Agent and (B) the execution and delivery of the TJA
Secured Note and the Guarantor Collateral and the Deferred Payment Agreement (each such term in
this clause (B) as defined in the Credit Agreement on the Amendment Effective Date); and

D. The Administrative Agent and the Required Lenders are willing to agree to the release of
the Liens at the times of various payments in favor of the Administrative Agent with respect to the
Release Collateral, discharge FCMC from liability under the FCMC Limited Recourse Guaranty, amend
the Holding Limited Recourse Guaranty, consent to a change of control of FCMC and waive any Events
of Default resulting from the Restructuring, upon the terms and conditions set forth herein.

NOW, THEREFORE, in consideration of the mutual covenants, agreements and promises contained
herein, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally
bound, the parties hereto for themselves and their successors and assigns do hereby agree,
represent and warrant as follows:

1. The definitions of “Change of Control”, “Collateral,” and
“Guarantor”, set forth in Section 1.01, “Certain Defined Terms,” of the Credit
Agreement are hereby amended to recite as follows:

“Change of Control” shall mean, (a) with respect to Holding,
the replacement of a majority of the board of directors from the directors
who constituted the board of directors on the Effective Date for any reason
other than death or disability, and such replacement shall not have been
approved by such board of directors, as constituted on the Effective Date
(or as changed over time with the approval of the then existing board of
directors of Holding); or (b) a Person or Persons acting in concert, as a
result of a tender or exchange offer, open market purchases, privately
negotiated purchases, exercise of the stock pledge or otherwise, shall have
become the beneficial owner (within the meaning of Rule 13d-3 under the
Securities Exchange Act of 1934, as amended) of equity securities of Holding
representing more than twenty percent (20%) of the combined voting power of
the outstanding securities of Holding, ordinarily having the right to vote
in the election of directors from the beneficial owners as of the Effective
Date; or (c) with respect to any Loan Party (other than Holding and FCMC),
the failure of Holding to own, directly or indirectly
and free and clear of any adverse claims (other than Liens securing the
Obligations), one hundred percent (100%) of the issued and outstanding
Capital Stock of such Loan Party (other than FCMC).

 

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“Collateral” shall have the meaning assigned to such term in
the Security Agreement, Mortgage, the Pledge Agreement or any other Loan
Document executed and delivered to the Administrative Agent by any Loan
Party and shall include without limitation:

	 	(i)	 	the REIT Shares;

	 	(ii)	 	the Participant Trust Certificates;

	 
	 	(iii)	 	an undivided interest in the Mortgage
Loans and REO Properties transferred to New Trust pursuant to
the Transactions to the extent of the Participant Trust
Certificates Percentage;

	 	(iv)	 	[reserved];

	 
	 	(v)	 	all monies owing to any Loan Party
(other than Holding) from any taxing authority;

	 
	 	(vi)	 	all amounts owing pursuant to any
deposit account or securities account of any Loan Party (other
than Holding);

	 
	 	(vii)	 	any commercial tort or other claim of
FCMC or any Loan Party, including the WMC Claims;

	 
	 	(viii)	 	certain real property interests of FCMC in respect to the
Proprietary Leases and any REO Property re-acquired by any
Borrower pursuant to any Transfer Agreement;

	 
	 	(ix)	 	a second priority Lien on cash
collateral held as security for revolving credit and letters
of credit from Huntington, HF and certain other lenders to
FCMC;

	 
	 	(x)	 	a first Mortgage in real property
interests at 6 Harrison Street, Unit 6, New York, New York,
subject to the Administrative Agent’s agreement to release the
same upon indefeasible payment in full of the TJA Secured
Note;

 

- 3 -

 

	 	(xi)	 	any monies, funds or sums due or
received by any Borrower in respect of any program sponsored
by any Governmental Authority, any federal program, federal agency
or quasi-governmental agency, including without limitation
any fees received, directly or indirectly, under the U.S.
Treasury Homeowners Affordability and Stability Plan;

	 
	 	(xii)	 	The TJA Secured Note; and

	 
	 	(xiii)	 	The Deferred Payment Agreement.

“Guarantor” shall mean Holding pursuant to a limited recourse
guaranty and any other Person which has become obligated to the
Administrative Agent or the Lenders in respect of the Obligations under any
Loan Document pursuant to the terms of a Guarantee.

2. Clause (e) of the definition of “Mandatory Prepayment Event,” set forth in Section
1.01, “Certain Defined Terms,” of the Credit Agreement is hereby amended to recite as
follows:

(e) the receipt by any Borrower or any Loan Party of the proceeds of any
Collateral, or the receipt by any Borrower or any Loan Party (other than FCMC) of the
proceeds of any settlement or monetary judgment in respect of any litigation or other
similar proceeding.

3. The following defined terms are hereby added to Section 1.01, “Certain Defined
Terms,” of the Credit Agreement in their correct alphabetical order and shall recite as
follows:

“Deferred Payment Agreement” shall mean a certain Deferred
Payment Agreement dated as of September 22, 2010, among FCMC, Thomas J. Axon
and the Administrative Agent for the benefit of the Lenders.

“Guarantor Collateral” shall mean the following:

(i) an open end mortgage, assignment of rents and security agreement from James
Thomas Realty LLC on certain commercial real property, commonly known as 6 Harrison
Street, Unit 5, New York, New York, subject only to a lien in favor of the
Communication Workers of America securing Indebtedness not to exceed the principal
sum of $550,000; and

(ii) a first and exclusive lien and security interest on each of the following
promissory notes secured by mortgages on certain real property:

(A) promissory note dated June 21, 1994, in the original principal amount of
$525,708.41 from 18 Harrison Street Development Associates held by Harrison
Street Realty Corp., secured by a first Mortgage on certain
commercial real property known as 18 Harrison Street, New York, New York,
with an outstanding principal balance of $1,014,098.92 as of the date
hereof;

 

- 4 -

 

(B) promissory note dated March 25, 2009, in the original principal amount
of $1,005,820.10 from 18 Harrison Street Development Associates held by
Harrison Street Realty Corp., secured by a second Mortgage on certain
commercial real property known as 18 Harrison Street, New York, New York
with an outstanding principal balance of $1,005,820.10 as of the date
hereof; and

(C) promissory noted dated March 25, 2009, in the original principal
amount of $1,315,382 secured by a first Mortgage on commercial real
property known as 185 Franklin Street, New York, New York, with an
outstanding principal balance of $1,315,382 as of the date hereof.

“TJA Secured Note” means a secured promissory note dated as of
September 22, 2010, in the principal amount of $1,000,000, executed and delivered to
the Administrative Agent for the benefit of the Lenders by FCMC, which note shall be
guaranteed by a payment guaranty from Thomas J. Axon, and shall be secured by the
Guarantor Collateral.

4. The second sentence of Section 7.08, “Activities of Franklin Servicing,” of the
Credit Agreement is hereby amended to recite as follows:

The Loan Parties (other than FCMC) shall cause (i) Franklin Servicing LLC at all times to
maintain its limited liability company existence and preserve and keep, or cause to be
preserved and kept, in full force and effect its rights and licenses material to its
business; and (ii) Holding to pledge one hundred percent (100%) of the Capital Stock of
Franklin Servicing LLC and all dividends or distributions in respect thereof to the
Administrative Agent.

5. Clause (c) of Section 7.20, “Organizational Documents, Pledge or Transfer of Equity
Interests,” of the Credit Agreement is hereby amended to recite as follows:

(c) No Borrower will permit or allow others to, create, incur or permit to
exist any Lien, security interest or claim on or to any Equity Interests of Franklin
Servicing LLC, Franklin Asset or Tribeca, other than a Lien securing the
Obligations.

 

- 5 -

 

6. Clause (k) of the definition of Section 8.01, “Events of Default,” of the Credit
Agreement is hereby amended to recite as follows:

(k) any Change of Control of any Loan Party (other than FCMC) shall have occurred; or

7. Section 10.22, “Release of Pledged Interests in FCMC,” is hereby deleted in its
entirety.

8. Conditions of Effectiveness. This Amendment shall become effective as of the
Amendment Effective Date, upon satisfaction of all of the following conditions precedent:

(a) The Administrative Agent shall have received execution and delivery of, by all
parties signatory thereto, originals, or completion as the case may be, to the satisfaction
of the Lender and its counsel, containing such information requested by the Administrative
Agent and its counsel and reflecting the absence of any material fact or issues and in all
respect satisfactory to the Lender, each of the following Loan Documents:

(i) Five (5) duly executed originals of this Amendment;

(ii) Five (5) duly executed originals of the First Amendment to Amended and Restated
Pledge Agreement;

(iii) Five (5) duly executed originals of the Deferred Payment Agreement; and

(iv) The TJA Secured Note and all loan documents evidencing the Guarantor Collateral;
and

(b) The Administrative Agent (for the benefit of the Lenders) shall have received the
Release Payments; and

(c) The representations contained in the immediately following paragraph shall be true
and accurate in all material respects.

9. Representations and Warranties. Each Borrower represents and warrants to the
Administrative Agent and each Lender as follows: (a) the execution, delivery and performance by
such Borrower of this Amendment and each other Loan Document have been duly authorized by all
requisite corporate or organizational action on the part of such Borrower and will not violate any
Requirement of Law applicable to each Borrower; and (b) this Amendment has been duly executed and
delivered by each Borrower, and each of this Amendment, the Credit Agreement and each other Loan
Document as amended hereby constitutes the legal, valid and binding obligation of each Borrower,
enforceable against such Borrower in accordance with the terms thereof.

10. Ratification and Reaffirmation. Each Borrower agrees that the Liens and security
interests granted to the Administrative Agent with respect to the Obligations as security for all
obligations and liabilities of such Borrower under the Credit Agreement, each Application and
Agreement for Letter of Credit and the Revolving Loan Note are valid and binding and are
hereby ratified and confirmed in all respects.

 

- 6 -

 

11. Reference to and Effect on the Loan Documents. (a) Upon the effectiveness of this
Amendment, each reference in the Credit Agreement to “Amended and Restated Credit Agreement,”
“Credit Agreement,” “Agreement,” the prefix “herein,” “hereof,” or words of similar import, and
each reference in the Loan Documents to the Credit Agreement, shall mean and be a reference to the
Credit Agreement as amended hereby. (b) Except to the extent amended or modified hereby, all of
the representations, warranties, terms, covenants and conditions of the Credit Agreement and the
other Loan Documents shall remain as written originally and in full force and effect in accordance
with their respective terms and are hereby ratified and confirmed, and nothing herein shall affect,
modify, limit or impair any of the rights and powers that the Administrative Agent may have
hereunder or thereunder. Nothing in this Amendment shall constitute a novation. The amendments
set forth herein shall be limited precisely as provided for herein, and shall not be deemed to be a
waiver of, amendment of, consent to or modification of any of the Administrative Agent’s or any
Lender’s rights under, or of any other term or provisions of, the Credit Agreement or any other
Loan Document, or of any term or provision of any other instrument referred to therein or herein or
of any transaction or future action on the part of any Borrower that would require the consent of
the Lender.

12. No Waiver. Nothing in this Amendment shall be construed to waive, modify, or cure
any default or Event of Default that exists or may exist under the Credit Agreement or any other
Loan Document.

13. Waiver of Right to Trial by Jury. EACH PARTY TO THIS AMENDMENT HEREBY EXPRESSLY
WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION (1) ARISING UNDER
THIS AMENDMENT OR ANY LOAN DOCUMENT, OR (2) IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO
THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO THIS AMENDMENT OR ANY OTHER LOAN
DOCUMENT, OR THE TRANSACTIONS RELATED HERETO OR THERETO, IN EACH CASE WHETHER NOW EXISTING OR
HEREAFTER ARISING, AND WHETHER SOUNDING IN CONTRACT OR TORT OR OTHERWISE, AND EACH PARTY HEREBY
AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY
COURT TRIAL WITHOUT A JURY, AND THAT ANY PARTY TO THIS AMENDMENT MAY FILE AN ORIGINAL COUNTERPART
OR A COPY OF THIS SECTION WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE PARTIES HERETO
TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY.

14. Counterparts. This Amendment may be executed in any number of counterparts and by
different parties hereto in separate counterparts, each of which when so executed and delivered
shall be an original, and all of which together will constitute one and the same instrument.
Receipt by the Administrative Agent of a facsimile copy of an executed signature page hereof will
constitute receipt by the Administrative Agent of an executed counterpart of this Amendment.

 

- 7 -

 

15. Governing Law. This Amendment and the rights and obligations of the parties
hereto shall be governed by, and construed and interpreted in accordance with, the laws of the
State of Ohio.

16. Headings. Section headings in this Amendment are included herein for convenience
of reference only and will not constitute a part of this Amendment for any other purpose.

17. Patriot Act Notice. The Administrative Agent hereby notifies each Borrower that
pursuant to the requirements of the USA Patriot Act (Title III of Pub.L.10756 (signed into law
October 26, 2001)) (the “Act”), it is required to obtain, verify and record information that
identifies each Borrower, which information includes the name and address of each Borrower and
other information that will allow the Administrative Agent to identify each Borrower in accordance
with the Act.

[Signature Pages Follow.]

 

- 8 -

 

IN WITNESS WHEREOF, the Borrowers and the Administrative Agent have hereunto set their hands
as of the date first set forth above.

	 	 	 	 	 
	 	BORROWERS:

FRANKLIN CREDIT ASSET CORPORATION

 	 
	 	By:  	/s/ Thomas J. Axon	 
	 	 	Name:  	Thomas J. Axon 	 
	 	 	Title:  	President 	 
	 
	 	TRIBECA LENDING CORP.

 	 
	 	By:  	/s/ Thomas J. Axon 	 
	 	 	Name:  	Thomas J. Axon 	 
	 	 	Title:  	President 	 
	 
	 	FRANKLIN ASSET, LLC

 	 
	 	By:  	/s/ Thomas J. Axon 	 
	 	 	Name:  	Thomas J. Axon 	 
	 	 	Title:  	President 	 
	 
	 	EACH BORROWER LISTED ON 

SCHEDULE 1
ATTACHED HERETO

 	 
	 	By:  	/s/ Thomas J. Axon 	 
	 	 	Name:  	Thomas J. Axon 	 
	 	 	Title:  	as President of, and on behalf of, each
Borrower listed on Schedule 1 attached to
this Amendment. 	 

Signature Page to Amendment No. 2 to Amended and Restated Credit Agreement

 

 

 

	 	 	 	 	 
	 	ADMINISTRATIVE AGENT:

THE HUNTINGTON NATIONAL BANK

 	 
	 	By:  	/s/ Mark T. Bahlmann 	 
	 	 	Name:  	Mark T. Bahlmann 	 
	 	 	Title:  	Authorized Representative 	 

Signature Page to Amendment No. 2 to Amended and Restated Credit Agreement

 

 

 

REAFFIRMATION AND CONSENT OF GUARANTOR

The undersigned (“Guarantor”), being a limited guarantor of the indebtedness of FRANKLIN
CREDIT ASSET CORPORATION, a Delaware Corporation (“Franklin Asset”), TRIBECA LENDING CORP., a New
York corporation (“Tribeca”), Franklin Asset, LLC, a Delaware limited liability company (“FCAC
Subco”) and the other BORROWERS listed on Schedule 1 to the above Amendment No. 2 to Amended and
Restated Credit Agreement (together with Franklin Asset, Tribeca and FCAC Subco, each, a “Borrower”
and collectively, the “Borrowers”) to THE FINANCIAL INSTITUTIONS PARTY HERETO (each, a “Lender” and
collectively, the “Lenders”), and THE HUNTINGTON NATIONAL BANK, a national banking association, as
administrative agent for the Lenders, (in such capacity, together with its successors and assigns
in such capacity, the “Administrative Agent”) pursuant to one or more certain guaranty agreements,
as amended as of the date hereof, in favor of the Administrative Agent, hereby (i) consents to be
bound by the terms, conditions and execution of the above Amendment No. 2 to Amended and Restated
Credit Agreement, (ii) reaffirms each warranty, representation, covenant, and agreement made by
Guarantor in one or more guaranty agreements executed and delivered to the Administrative Agent, as
amended as of the date hereof, and (iii) agrees that Guarantor’s rights and obligations shall be
continuing as provided in each such guaranty agreement(s) and that such guaranty agreement(s) shall
remain and continue in full force and effect in all respects, in each case with respect to the
Obligations under the Credit Agreement, as amended by Amendment No. 2 to Amended and Restated
Credit Agreement.

	 	 	 	 	 
	 	GUARANTOR:

FRANKLIN CREDIT HOLDING CORPORATION

 	 
	 	By:  	/s/ Thomas J. Axon 	 
	 	 	Name:  	Thomas J. Axon 	 
	 	 	Title:  	President 	 

Signature Page to Amendment No. 2 to Amended and Restated Credit Agreement

 

 

 

SCHEDULE 1

	 	 	 	 	 
	FCMC 2000 C CORP.
	 	 	 	 
	FCMC 2000 D CORP.
	 	 	 	 
	FCMC 2001 A CORP.
	 	 	 	 
	FCMC 2001 B CORP (fka Fort 100 Corporation)
	 	 	 	 
	FCMC 2001 C CORP.
	 	 	 	 
	FCMC 2001 D CORP.
	 	 	 	 
	FCMC 2001 E CORP.
	 	 	 	 
	FCMC 2001 F CORP.
	 	 	 	 
	FCMC 2002 A CORP.
	 	 	 	 
	FCMC 2002 B CORP.
	 	 	 	 
	FCMC 2002 C CORP.
	 	 	 	 
	FCMC 2002 D CORP.
	 	 	 	 
	FCMC 2002 E CORP.
	 	 	 	 
	FCMC 2002 F CORP.
	 	 	 	 
	FCMC 2002 G CORP.
	 	 	 	 
	FCMC 2002 H CORP.
	 	 	 	 
	FCMC 2003 A CORP.
	 	 	 	 
	FCMC 2003 B CORP.
	 	 	 	 
	FCMC 2003 C CORP.
	 	 	 	 
	FCMC 2003 D CORP.
	 	 	 	 
	FCMC 2003 E CORP.
	 	 	 	 
	FCMC 2003 F CORP.
	 	 	 	 
	FCMC 2003 G CORP.
	 	 	 	 
	FCMC 2003 H CORP.
	 	 	 	 
	FCMC 2003 I CORP.
	 	 	 	 
	FCMC 2004 A CORP (fka FCMC 2003 J Corp.)
	 	 	 	 
	FCMC 2004 B CORP. (fka FCMC 2003 K Corp.)
	 	 	 	 
	FCMC 2004 C CORP.
	 	 	 	 
	FCMC 2004 D CORP.
	 	 	 	 
	FCMC 2004 E CORP.
	 	 	 	 
	FCMC 2004 F CORP.
	 	 	 	 
	FCMC 2004 G CORP.
	 	 	 	 
	FCMC 2004 H CORP.
	 	 	 	 
	FCMC 2004 I CORP.
	 	 	 	 
	FCMC 2004 J CORP.
	 	 	 	 
	FCMC 2004 K CORP.
	 	 	 	 
	FCMC 2004 L CORP.
	 	 	 	 
	FCMC 2004 M CORP.
	 	 	 	 
	FCMC 2005 A CORP.
	 	 	 	 
	FCMC 2005 B CORP.
	 	 	 	 
	FCMC 2005 C CORP.
	 	 	 	 
	FCMC 2005 D CORP.
	 	 	 	 

 

 

 

	 	 	 	 	 
	FCMC 2005 E CORP.
	 	 	 	 
	FCMC 2005 F CORP.
	 	 	 	 
	FCMC 2005 G CORP.
	 	 	 	 
	FCMC 2005 H CORP.
	 	 	 	 
	FCMC 2005 I CORP.
	 	 	 	 
	FCMC B-ONE 2004 A CORP.
	 	 	 	 
	FCMC B-ONE 2004 B CORP.
	 	 	 	 
	FCMC B-ONE 2004 C CORP.
	 	 	 	 
	FCMC B-ONE 2004 D CORP.
	 	 	 	 
	FCMC B-ONE 2004 E CORP.
	 	 	 	 
	FCMC B-ONE 2004 F CORP.
	 	 	 	 
	FLOW 2000A CORP.
	 	 	 	 
	FLOW 2000B CORP.
	 	 	 	 
	FLOW 2000D CORP.
	 	 	 	 
	FLOW 2000E CORP.
	 	 	 	 
	FLOW 2000F CORP.
	 	 	 	 
	FLOW 2001 A CORP.
	 	 	 	 
	FLOW 2001 B CORPORATION
	 	 	 	 
	FLOW 2001 C CORPORATION
	 	 	 	 
	FLOW 2001 D CORP (fka Fort 100 B Corporation)
	 	 	 	 
	FLOW 2001 E CORPORATION
	 	 	 	 
	FLOW 2001 F CORPORATION
	 	 	 	 
	FLOW 2001 G CORPORATION
	 	 	 	 
	FLOW 2001 H CORP.
	 	 	 	 
	FLOW 2001 I CORP.
	 	 	 	 
	FLOW 2001 J CORP.
	 	 	 	 
	FLOW 2001 K CORP
	 	 	 	 
	FLOW 2001 L CORP.
	 	 	 	 
	FLOW 2002 A CORP.
	 	 	 	 
	FLOW 2002 B CORP.
	 	 	 	 
	FLOW 2002 C CORP.
	 	 	 	 
	FLOW 2002 D CORP.
	 	 	 	 
	FLOW 2002 E CORP.
	 	 	 	 
	FLOW 2002 F CORP.
	 	 	 	 
	FLOW 2002 G CORP.
	 	 	 	 
	FLOW 2002 H CORP.
	 	 	 	 
	FLOW 2002 I CORP.
	 	 	 	 
	FLOW 2002 J CORP.
	 	 	 	 
	FLOW 2002 K CORP.
	 	 	 	 
	FLOW 2002 L CORP.
	 	 	 	 
	FLOW 2003 A CORP.
	 	 	 	 
	FLOW 2003 B CORP.
	 	 	 	 
	FLOW 2003 C CORP.
	 	 	 	 
	FLOW 2003 D CORP.
	 	 	 	 

 

 

 

	 	 	 	 	 
	FLOW 2003 E CORP.
	 	 	 	 
	FLOW 2003 F CORP.
	 	 	 	 
	FLOW 2003 G CORP.
	 	 	 	 
	FLOW 2003 H CORP.
	 	 	 	 
	FLOW 2003 I CORP.
	 	 	 	 
	FLOW 2003 J CORP.
	 	 	 	 
	FLOW 2003 K CORP.
	 	 	 	 
	FLOW 2003 L CORP.
	 	 	 	 
	FLOW 2004 A CORP. (fka Flow 2003 M Corp.)
	 	 	 	 
	FLOW 2004 B CORP.
	 	 	 	 
	FLOW 2004 C CORP.
	 	 	 	 
	FLOW 2004 D CORP.
	 	 	 	 
	FLOW 2004 E CORP.
	 	 	 	 
	FLOW 2004 F CORP.
	 	 	 	 
	FLOW 2004 G CORP.
	 	 	 	 
	FLOW 2004 H CORP.
	 	 	 	 
	FLOW 2004 I CORP.
	 	 	 	 
	FLOW 2005 A CORP.
	 	 	 	 
	FLOW 2005 B CORP.
	 	 	 	 
	FLOW 2005 C CORP.
	 	 	 	 
	FLOW 2005 D CORP.
	 	 	 	 
	FLOW 2005 E CORP.
	 	 	 	 
	FLOW 2005 F CORP
	 	 	 	 
	FLOW 2005 G CORP
	 	 	 	 
	FLOW 2005 H CORP
	 	 	 	 
	FLOW 2005 I CORP
	 	 	 	 
	FLOW 2005 J CORP
	 	 	 	 
	FLOW 99-92 CORP.
	 	 	 	 
	CAPE 77 CORP.
	 	 	 	 
	COAST 56 CORPORATION
	 	 	 	 
	EMERGE 64 CORPORATION
	 	 	 	 
	FIRSTGOLD 69 CORP.
	 	 	 	 
	BEACH FUNDING CORP.
	 	 	 	 
	COAST 96 CORP.
	 	 	 	 
	EMOD 65 CORP.
	 	 	 	 
	GREENWICH FIRST CORPORATION
	 	 	 	 
	GREENWICH FUNDING CORPORATION
	 	 	 	 
	GREENWICH MANAGEMENT CORPORATION
	 	 	 	 
	HARRISON FINANCIAL CORPORATION
	 	 	 	 
	PANCAL 82 CORP.
	 	 	 	 
	PENN 100B CORP.
	 	 	 	 
	PENN 100 CORP.
	 	 	 	 
	POINT 91 CORP.
	 	 	 	 
	STATES 87 CORP.
	 	 	 	 

 

 

 

	 	 	 	 	 
	FCMC 2005 J CORP.
	 	 	 	 
	FCMC 2005 K CORP.
	 	 	 	 
	FCMC 2005 L CORP.
	 	 	 	 
	FCMC 2005 M CORP.
	 	 	 	 
	FCMC 2005 N CORP.
	 	 	 	 
	FCMC 2005 O CORP.
	 	 	 	 
	FCMC 2005 P CORP.
	 	 	 	 
	FCMC 2005 Q CORP.
	 	 	 	 
	FCMC 2005 R CORP.
	 	 	 	 
	FCMC 2005 S CORP.
	 	 	 	 
	FCMC 2006 A CORP.
	 	 	 	 
	FCMC 2006 B CORP.
	 	 	 	 
	FCMC 2006 C CORP.
	 	 	 	 
	FCMC 2006 D CORP.
	 	 	 	 
	FCMC 2006 E CORP.
	 	 	 	 
	FCMC 2006 F CORP.
	 	 	 	 
	FCMC 2006 G CORP.
	 	 	 	 
	FCMC 2006 H CORP.
	 	 	 	 
	FCMC 2006 I CORP.
	 	 	 	 
	FCMC 2006 J CORP.
	 	 	 	 
	 
	 	 	 	 
	FCMC 2006 L CORP.
	 	 	 	 
	 
	 	 	 	 
	FCMC 2006 N CORP.
	 	 	 	 
	FCMC 2006 O CORP.
	 	 	 	 
	FCMC 2006 P CORP.
	 	 	 	 
	FCMC 2006 Q CORP.
	 	 	 	 
	FCMC 2006 R CORP.
	 	 	 	 
	FCMC 2006 S CORP.
	 	 	 	 
	FCMC 2006 T CORP.
	 	 	 	 
	FCMC 2006 U CORP.
	 	 	 	 
	FCMC 2006 V CORP.
	 	 	 	 
	FCMC 2006 W CORP.
	 	 	 	 
	FCMC 2006 X CORP.
	 	 	 	 
	FCMC 2006 Y CORP.
	 	 	 	 
	FCMC 2006 Z CORP.
	 	 	 	 
	FCMC 2007 A CORP.
	 	 	 	 
	FCMC 2007 B CORP.
	 	 	 	 
	FCMC 2007 C CORP.
	 	 	 	 
	FCMC 2007 D CORP.
	 	 	 	 
	FCMC 2007 E CORP.
	 	 	 	 
	FCMC 2007 F CORP.
	 	 	 	 
	FCMC 2007 G CORP.
	 	 	 	 
	FCMC 2007 H CORP.
	 	 	 	 

 

 

 

	 	 	 	 	 
	FCMC 2007 I CORP.
	 	 	 	 
	FCMC 2007 J CORP.
	 	 	 	 
	FCMC 2007 K CORP.
	 	 	 	 
	FCMC 2007 L CORP.
	 	 	 	 
	FCMC 2007 M CORP.
	 	 	 	 
	FCMC 2007 N CORP
	 	 	 	 
	FCMC 2007 O CORP.
	 	 	 	 
	FCMC 2007 P CORP.
	 	 	 	 
	FCMC 2007 Q CORP.
	 	 	 	 
	FCMC 2007 R CORP.
	 	 	 	 
	FCMC 2007 S CORP.
	 	 	 	 
	FCMC 2007 T CORP.
	 	 	 	 
	FCMC 2007 U CORP
	 	 	 	 
	FCMC 2007 V CORP.
	 	 	 	 
	FCMC 2007 W CORP.
	 	 	 	 
	FCMC 2007 X CORP.
	 	 	 	 
	FCMC 2007 Y CORP.
	 	 	 	 
	FCMC 2007 Z CORP
	 	 	 	 
	FCMC 2007 AA CORP.
	 	 	 	 
	FCMC 2007 AB CORP.
	 	 	 	 
	FCMC 2007 AC CORP.
	 	 	 	 
	FLOW 2006 A CORP.
	 	 	 	 
	FLOW 2006 B CORP.
	 	 	 	 
	FLOW 2006 C CORP.
	 	 	 	 
	FLOW 2006 D CORP.
	 	 	 	 
	FLOW 2006 E CORP.
	 	 	 	 
	 
	 	 	 	 
	FLOW 2006 G CORP.
	 	 	 	 
	FLOW 2006 H CORP.
	 	 	 	 
	FLOW 2007 A CORP.
	 	 	 	 
	FLOW 2007 B CORP
	 	 	 	 
	FLOW 2007 C CORP.
	 	 	 	 
	FLOW 2007 D CORP.
	 	 	 	 
	RONTEX CORPORATION
	 	 	 	 
	SIX HARRISON CORPORATION
	 	 	 	 
	HARRISON FIRST CORPORATION
	 	 	 	 
	HARRISON FINANCIAL ASSOCIATES, INC.
	 	 	 	 
	HARRISON FUNDING CORPORATION
	 	 	 	 
	RONTEXT 1617 CORPORATION
	 	 	 	 
	RONTEX 1617 CORPORATION
	 	 	 	 
	JUNIPER CORP.
	 	 	 	 
	NEWPORT 50 CORPORATION
	 	 	 	 
	SIX HARRISON CORPORATION
	 	 	 	 
	HUDSON MANAGEMENT CORPORATION
	 	 	 	 

 

 

 

	 	 	 	 	 
	TRIBECA FUNDING CORPORATION
	 	 	 	 
	 
	 	 	 	 
	TRIBECA L 2005 CORP.
	 	 	 	 
	TRIBECA LII 2005 CORP.
	 	 	 	 
	TRIBECA LIII 2005 CORP.
	 	 	 	 
	TRIBECA LIV 2005 CORP.
	 	 	 	 
	TRIBECA LIX 2006 CORP.
	 	 	 	 
	TRIBECA LV 2005 CORP.
	 	 	 	 
	TRIBECA LVI 2005 CORP.
	 	 	 	 
	TRIBECA LVII 2006 CORP.
	 	 	 	 
	TRIBECA LVIII 2006 CORP.
	 	 	 	 
	TRIBECA LX 2006 CORP.
	 	 	 	 
	TRIBECA LXI 2006 CORP.
	 	 	 	 
	TRIBECA LXII 2006 CORP.
	 	 	 	 
	TRIBECA LXIII 2006 CORP.
	 	 	 	 
	TRIBECA LXIV 2006 CORP.
	 	 	 	 
	TRIBECA LXIX 2006 CORP.
	 	 	 	 
	TRIBECA LXV 2006 CORP.
	 	 	 	 
	TRIBECA LXVI 2006 CORP.
	 	 	 	 
	TRIBECA LXVII 2006 CORP.
	 	 	 	 
	TRIBECA LXVIII 2006 CORP.
	 	 	 	 
	TRIBECA LXX 2006 CORP.
	 	 	 	 
	TRIBECA LXXI 2006 CORP.
	 	 	 	 
	TRIBECA LXXII 2006 CORP.
	 	 	 	 
	TRIBECA LXXIII 2006 CORP.
	 	 	 	 
	TRIBECA LXXIV 2006 CORP.
	 	 	 	 
	TRIBECA LXXIX 2007 CORP.
	 	 	 	 
	TRIBECA LXXV 2006 CORP.
	 	 	 	 
	TRIBECA LXXVI 2006 CORP.
	 	 	 	 
	TRIBECA LXXVII 2006 CORP.
	 	 	 	 
	TRIBECA LXXVIII 2006 CORP.
	 	 	 	 
	TRIBECA LXXX 2007 CORP.
	 	 	 	 
	TRIBECA LXXXI 2007 CORP.
	 	 	 	 
	TRIBECA LXXXII 2007 CORP.
	 	 	 	 
	TRIBECA LXXXIII 2007 CORP.
	 	 	 	 
	TRIBECA LXXXIV 2007 CORP.
	 	 	 	 
	TRIBECA LXXXIX 2007 CORP.
	 	 	 	 
	TRIBECA LXXXV 2007 CORP.
	 	 	 	 
	TRIBECA LXXXVI 2007 CORP.
	 	 	 	 
	TRIBECA LXXXVII 2007 CORP.
	 	 	 	 
	TRIBECA LXXXVIII 2007 CORP.
	 	 	 	 
	TRIBECA XC 2007 CORP.
	 	 	 	 
	TRIBECA XCI 2007 CORP.
	 	 	 	 
	TRIBECA XCII 2007 CORP.
	 	 	 	 

 

 

 

	 	 	 	 	 
	TRIBECA XCIII 2007 CORP.
	 	 	 	 
	TRIBECA XCIV 2007 CORP.
	 	 	 	 
	TRIBECA XCV 2007 CORP.
	 	 	 	 
	TRIBECA XIX 2004 CORP.
	 	 	 	 
	TRIBECA XV 2004 CORP.
	 	 	 	 
	TRIBECA XVII 2004 CORP.
	 	 	 	 
	TRIBECA XVIII 2004 CORP.
	 	 	 	 
	TRIBECA XX 2004 CORP.
	 	 	 	 
	TRIBECA XXI 2004 CORP.
	 	 	 	 
	TRIBECA XXII 2004 CORP.
	 	 	 	 
	TRIBECA XXIII 2004 CORP.
	 	 	 	 
	TRIBECA XXIV 2004 CORP.
	 	 	 	 
	TRIBECA XXIX 2005 CORP.
	 	 	 	 
	TRIBECA XXV 2004 CORP.
	 	 	 	 
	TRIBECA XXVI 2004 CORP.
	 	 	 	 
	TRIBECA XXVII 2004 CORP.
	 	 	 	 
	TRIBECA XXVIII 2004 CORP.
	 	 	 	 
	TRIBECA XXX 2005 CORP.
	 	 	 	 
	TRIBECA XXXI 2005 CORP.
	 	 	 	 
	TRIBECA XXXII 2005 CORP.
	 	 	 	 
	TRIBECA XXXIII 2005 CORP.
	 	 	 	 
	TRIBECA XXXIV 2005 CORP.
	 	 	 	 
	TRIBECA XXXIX 2005 CORP.
	 	 	 	 
	TRIBECA XXXV 2005 CORP.
	 	 	 	 
	TRIBECA XXXVI 2005 CORP.
	 	 	 	 
	TRIBECA XXXVII 2005 CORP.
	 	 	 	 
	TRIBECA XXXVIII 2005 CORP.
	 	 	 	 
	TRIBECA XXXX 2005 CORP.
	 	 	 	 
	TRIBECA XXXXI 2005 CORP.
	 	 	 	 
	TRIBECA XXXXII 2005 CORP.
	 	 	 	 
	TRIBECA XXXXIII 2005 CORP.
	 	 	 	 
	TRIBECA XXXXIV 2005 CORP.
	 	 	 	 
	TRIBECA XXXXIX 2005 CORP.
	 	 	 	 
	TRIBECA XXXXV 2005 CORP.
	 	 	 	 
	TRIBECA XXXXVI 2005 CORP.
	 	 	 	 
	TRIBECA XXXXVII 2005 CORP.
	 	 	 	 
	TRIBECA XXXXVIII 2005 CORP.
	 	 	 	 
	TRIBECA LI 2005 CORP.
	 	 	 	 
	 
	 	 	 	 
	TRIBECA XVI 2004 CORP.
	 	 	 	 
	FLOW 2007 E CORP
	 	 	 	 
	EMGOLD 57 CORP.
	 	 	 	 
	FCMC CORPORATE REFINANCE

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00178-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00178-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00178-of-00352.parquet"}]]