Document:

Amendment No. 2 to Sale and Servicing Agreement

 Exhibit 10.9.1.3 
 AMENDMENT NO. 2 TO SALE AND SERVICING AGREEMENT 
 This AMENDMENT NO. 2 TO SALE AND
SERVICING AGREEMENT, dated as of August 2, 2006, (this “Amendment”) is entered into in connection with that certain Sale and Servicing Agreement, dated as of November 30, 2005 (such agreement as amended, modified,
supplemented, waived or restated from time to time, the “Sale and Servicing Agreement”), by and among NewStar Credit Opportunities Funding I Ltd., as the seller (in such capacity, the “Seller”), NewStar Credit
Opportunities Fund, Ltd., as the fund (in such capacity, the “Fund”), NewStar Financial, Inc., as the collateral manager (in such capacity, the “Collateral Manager”), each of the conduit purchasers and purchaser
agents from time to time party thereto, IXIS Financial Products Inc., as the administrative agent (in such capacity, the “Administrative Agent”) and as the swingline purchaser, Wachovia Capital Markets, LLC, as the documentation
agent (in such capacity, the “Documentation Agent”), U.S. Bank National Association, as the collateral administrator and as the collateral custodian, and Lyon Financial Services, Inc. d/b/a U.S. Bank Portfolio Services, as the
backup collateral manager. Capitalized terms used and not otherwise defined herein shall have the meanings given to such terms in the Sale and Servicing Agreement. 
 R E C I T A L S 
 WHEREAS, the parties
hereto (other than Fairway Finance Company, LLC and BMO Capital Markets Corp.), previously entered into the Sale and Servicing Agreement and certain other Transaction Documents (as defined in the Sale and Servicing Agreement); 
 WHEREAS, in accordance with Section 13.1 of the Sale and Servicing Agreement, the parties hereto desire to amend the Sale and Servicing
Agreement to (i) address the addition of Fairway Finance Company, LLC as a Purchaser, (ii) waive the Collateral Manager Fee and (iii) in certain other respects as provided herein; 
 WHEREAS, contemporaneously herewith, pursuant to an Assumption Agreement, dated as of the date hereof (the “Assumption
Agreement”) by and among Fairway Finance Company, LLC, BMO Capital Markets Corp., the Seller, the Fund, the Collateral Manager, the Administrative Agent and the Documentation Agent, Fairway Finance Company, LLC became a party to the Sale
and Servicing Agreement as a Purchaser, assumed the rights and obligations of a Purchaser thereunder, and designated BMO Capital Markets Corp. as its Purchaser Agent; 
 NOW, THEREFORE, based upon the above Recitals, the mutual premises and agreements contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto, intending to be legally bound, hereby agree as follows: 
 SECTION 1. AMENDMENT. 
 1. Section 1.1 to the Sale and Servicing Agreement is hereby amended by adding the following definitions: 
 “Fairway”: Fairway Finance Company, LLC, a Delaware limited liability company. 

 “Fairway Agent”: BMO Capital Markets Corp. or any other entity that has been appointed
as the administrator for Fairway. 
 “MMP-5 Agent”: IXIS Financial Products Inc. in its capacity as Purchaser Agent for
MMP-5. 
 2. Section 1.1 to the Sale and Servicing Agreement is hereby amended by amending and restating item (vi) of the
definition of “Eligible Obligor” to read as follows: “(vi) such Obligor is organized under the federal or provincial laws of, or its principal office is located in, and the Related Property with respect to which the Asset is
principally underwritten is located in, the United States, Canada, a Group I Country, a Group II Country or a Group III Country,”. 
 3.
Section 1.1 to the Sale and Servicing Agreement is hereby amended by amending both subsection (v)(ii) and subsection (w) of the definition of “Concentration Limits” by deleting the amount “$10,000,000” and
replacing it with the amount “$20,000,000” in both sections. 
 4. Section 1.1 to the Sale and Servicing Agreement is
hereby amended by amending the definition of “Liquidity Agreement” by: 
 (a) deleting the word “(ii)” and replacing it
with the word “(iii)”; and 
 (b) adding the words “(ii) in the case of the agreement entered into by BMO Capital Markets Corp.
for the benefit of Fairway shall have an initial term of 364 days commencing on August 2, 2006” after the words “Closing Date” 
 5. Section 1.1 to the Sale and Servicing Agreement is hereby amended by amending and restating the definition of “Security” to read as follows: 
 “Security”: The meaning specified in Section 8-102(a)(15) of the UCC. 
 6. Section 2.15(b) to the Sale and Servicing Agreement is hereby amended by adding following sentence to the end of Section 2.15(b):

 At all times when the Collateral Manager is NewStar Financial, Inc. and NewStar Financial, Inc. is also the Fund Manager and is receiving a
fee as the Fund Manager pursuant to the Constituent Documents of the Fund, the Collateral Manager Fee shall be waived. 
 7. Exhibit
A-1 to the Sale and Servicing Agreement is hereby amended by: 
 (a) adding the words “and as the Purchaser Agent for MMP-5”
after the words “as the Administrative Agent” in the address for IXIS Financial Products Inc.; and 
 (b) inserting the following
address after the address for Wachovia Capital Markets, LLC: 
 BMO Capital Markets Corp. 
 as the Purchaser Agent for Fairway 
 115 S. LaSalle Street, 13th West 
 Chicago, IL 60603 
 Attention: Conduit Management Team 
 Facsimile No: (312) 461-3189 
 Via Email:       fundingdesk@bmo.com 
  

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 8. Exhibit A-2 to the Sale and Servicing Agreement is hereby amended by: 
 (a) adding the words “and as the Purchaser Agent for MMP-5” after the words “as the Administrative Agent” in the address for IXIS
Financial Products Inc.; and 
 (b) inserting the following address after the address for Wachovia Capital Markets, LLC: 
 BMO Capital Markets Corp. 
 as the Purchaser Agent for Fairway 
 115 S. LaSalle Street, 13th West 
 Chicago, IL 60603 
 Attention: Conduit Management Team 
 Facsimile No: (312) 461-3189 
 Via Email:       fundingdesk@bmo.com 
 9. Exhibit A-3 to the Sale and
Servicing Agreement is hereby amended by: 
 (a) adding the words “and as the Purchaser Agent for MMP-5” after the words “as
the Administrative Agent” in the address for IXIS Financial Products Inc.; and 
 (b) inserting the following address after the address
for Wachovia Capital Markets, LLC: 
 BMO Capital Markets Corp. 
 as the Purchaser Agent for Fairway 
 115 S. LaSalle Street, 13th West 
 Chicago, IL 60603 
 Attention: Conduit Management Team 
 Facsimile No: (312) 461-3189 
 Via Email:       fundingdesk@bmo.com 
 10. Annex A to the Sale and Servicing Agreement is hereby supplemented with the following information: 
 Fairway Finance Company, LLC 
 c/o Lord Securities Corporation 
 48 Wall Street, 27th Floor 
 New York, NY
10005 
 Attention: Orlando Figueroa 
 Facsimile No.: (212) 346-9012 
 Confirmation No.: (212) 346-9007 
  

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 BMO Capital Markets Corp. 
 115 S. LaSalle Street, 13th West 
 Chicago, IL 60603 
 Attention: Conduit Management Team 
 Facsimile No: (312) 461-3189 
 Confirmation No.: (312) 461-5640 
 11. Schedule XII to the Sale and Servicing Agreement is hereby amended by adding Fairway to the list of Conduit Purchasers with a Commitment of
$50,000,000. 
 SECTION 2. AGREEMENT IN FULL FORCE AND EFFECT AS AMENDED. 
 Except as specifically amended hereby, all provisions of the Sale and Servicing Agreement shall remain in full force and effect. After this Amendment
becomes effective, all references to the Sale and Servicing Agreement, and corresponding references thereto or therein such as “hereof,” “herein,” or words of similar effect referring to the Sale and Servicing Agreement shall be
deemed to mean the Sale and Servicing Agreement as amended hereby. This Amendment shall not constitute a novation of the Sale and Servicing Agreement, but shall constitute an amendment thereof. This Amendment shall not be deemed to expressly or
impliedly waive, amend or supplement any provision of the Sale and Servicing Agreement other than as expressly set forth herein. The Seller expressly acknowledges that it shall not be permitted to make any substantive change with respect to the
permitted activities or the restrictions related to the activities of the Seller under or with respect to its organizational documents or any Transaction Document. 
 SECTION 3. REPRESENTATIONS. 
 Each of the Seller, the Fund and the Collateral Manager
represents and warrants as of the date of this Amendment as follows: 
 (i) it is duly incorporated or organized, validly
existing and in good standing under the laws of its jurisdiction of incorporation or organization; 
 (ii) the execution,
delivery and performance by it of this Amendment are within its powers, have been duly authorized, and do not contravene (A) its charter, by- laws, or other organizational documents, or (B) any Applicable Law; 
 (iii) no consent, license, permit, approval or authorization of, or registration, filing or declaration with any governmental authority,
is required in connection with the execution, delivery, performance, validity or enforceability of this Amendment by or against it; 
 (iv) this Amendment has been duly executed and delivered by it; 
 (v) this Amendment constitutes its legal, valid
and binding obligation enforceable against it in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights
generally or by general principles of equity; 
  

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 (vi) it is not in default under the Sale and Servicing Agreement; and 
 (vii) there is no Termination Event, Unmatured Termination Event, or Collateral Manager Default. 
 SECTION 4. CONDITIONS TO EFFECTIVENESS. 
 The effectiveness of this Amendment is conditioned upon the delivery of the following to the Documentation Agent: 
 (1) executed signature pages of this Agreement by all parties hereto; 
 (2) a duly executed copy of the Assumption Agreement; and

 (3) a duly executed Variable Funding Certificate in the name of “BMO Capital Markets Corp., as the Fairway Agent” and in the
face amount equal to $50,000,000. 
 (4) a duly executed copy of the Purchaser Fee Letter in respect of Fairway. 
 SECTION 5. MISCELLANEOUS. 
 (a) Without in any way limiting any other obligation hereunder or under the Transaction Documents, the Seller agrees to provide, from time to time, any additional documentation and to execute additional acknowledgements, amendments,
instruments or other agreements as may be requested and reasonably required by any of the parties to the Transaction Documents to effectuate the foregoing. 
 (b) This Amendment may be executed in any number of counterparts (including by facsimile), and by the different parties hereto on the same or separate counterparts, each of which shall be deemed to be an original
instrument but all of which together shall constitute one and the same agreement. 
 (c) The descriptive headings of the various sections of
this Amendment are inserted for convenience of reference only and shall not be deemed to affect the meaning or construction of any of the provisions hereof. 
 (d) This Amendment may not be amended or otherwise modified except as provided in the Sale and Servicing Agreement. 
 (e) The failure or unenforceability of any provision hereof shall not affect the other provisions of this Amendment. 
 (f) Whenever
the context and construction so require, all words used in the singular number herein shall be deemed to have been used in the plural, and vice versa, and the masculine gender shall include the feminine and neuter and the neuter shall include the
masculine and feminine. 
  

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 (g) This Amendment represents the final agreement between the parties and may not be contradicted by
evidence of prior, contemporaneous or subsequent oral agreements between the parties. There are no unwritten oral agreements between the parties. 
 (h) THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
 [Remainder of Page Intentionally Left Blank] 
  

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 IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by their respective
officers thereunto duly authorized, as of the date first above written. 
  

									
		 		 	 NEWSTAR CREDIT OPPORTUNITIES
 FUNDING I LTD, as Seller

					
		 		 		 	 By:
	 	NewStar Financial, Inc., its Manager
					
		 		 		 	 By:
	 	/s/ John J. Frishkopf
		 		 		 		 	Name: John J. Frishkopf
		 		 		 		 	Title: Managing Director

  

									
		 		 	 NEWSTAR CREDIT OPPORTUNITIES
 FUND,
LTD, as the Fund

					
		 		 		 	 By:
	 	NewStar Financial, Inc., its Manager
					
		 		 		 	 By:
	 	/s/ John J. Frishkopf
		 		 		 		 	Name: John J. Frishkopf
		 		 		 		 	Title: Managing Director

  

									
		 		 	NEWSTAR FINANCIAL, INC., as Collateral Manager
					
		 		 		 	 By:
	 	/s/ John J. Frishkopf
		 		 		 		 	Name: John J. Frishkopf
		 		 		 		 	Title: Managing Director

 SIGNATURES CONTINUED ON FOLLOWING PAGE 
 2nd Amendment to Sale & Servicing Agreement 

									
		 		 	VARIABLE FUNDING CAPITAL COMPANY LLC, as a Purchaser
					
		 		 		 	 By:
	 	Wachovia Capital Markets, LLC, as attorney-in-fact
					
		 		 		 	 By:
	 	/s/ Bryan P. McGrath
		 		 		 		 	Name: Bryan P. McGrath
		 		 		 		 	Title: Vice President

  

									
		 		 	WACHOVIA CAPITAL MARKETS, LLC, as the Documentation Agent and as the VFCC Agent
					
		 		 		 	 By:
	 	/s/ Andy Phelps
		 		 		 		 	Name: Andy Phelps
		 		 		 		 	Title: Vice President

 SIGNATURES CONTINUED ON FOLLOWING PAGE 
 2nd Amendment to Sale & Servicing Agreement 

									
		 		 	MMP-5 FUNDING, LLC, as a Purchaser
					
		 		 		 	 By:
	 	/s/ Bernard J. Angelo
		 		 		 		 	Name: Bernard J. Angelo
		 		 		 		 	Title: Vice President

  

									
		 		 	IXIS FINANCIAL PRODUCTS INC., as the Administrative Agent, Swingline Purchaser and the Purchaser Agent for MMP-5
					
		 		 		 	 By:
	 	/s/ David A. Power
		 		 		 		 	Name: David A. Power
		 		 		 		 	Title: Managing Director
					
		 		 		 	 By:
	 	/s/ Christopher Hayden
		 		 		 		 	Name: Christopher Hayden
		 		 		 		 	Title: Managing Director

 SIGNATURES CONTINUED ON FOLLOWING PAGE 
 2nd Amendment to Sale & Servicing Agreement 

									
		 		 	FAIRWAY FINANCE COMPANY, LLC, as a Purchaser
					
		 		 		 	 By:
	 	/s/ Jill A. Gordon
		 		 		 		 	Name: Jill A. Gordon
		 		 		 		 	Title: Vice President

  

									
		 		 	 BMO CAPITAL MARKETS CORP., as the Fairway Agent

					
		 		 		 	 By:
	 	/s/ Kevin P. Gribben
		 		 		 		 	Name: Kevin P. Gribben
		 		 		 		 	Title: Managing Director

 2nd Amendment to Sale & Servicing AgreementAmendment No. 3 to Sale and Servicing Agreement

 Exhibit 10.9.1.4 
 AMENDMENT NO. 3 TO SALE AND SERVICING AGREEMENT 
 This AMENDMENT NO. 3 TO SALE AND
SERVICING AGREEMENT, dated as of November 29, 2006, (this “Amendment”) is entered into in connection with that certain Sale and Servicing Agreement, dated as of November 30, 2005 (such agreement as amended, modified,
supplemented, waived or restated from time to time, the “Sale and Servicing Agreement”), by and among NewStar Credit Opportunities Funding I Ltd., as the seller (in such capacity, the “Seller”), NewStar Credit
Opportunities Fund, Ltd., as the fund (in such capacity, the “Fund”), NewStar Financial, Inc., as the collateral manager (in such capacity, the “Collateral Manager”), each of the conduit purchasers and purchaser
agents from time to time party thereto, IXIS Financial Products Inc., as the administrative agent (in such capacity, the “Administrative Agent”) and as the swingline purchaser, Wachovia Capital Markets, LLC, as the documentation
agent (in such capacity, the “Documentation Agent”), U.S. Bank National Association, as the collateral administrator and as the collateral custodian, and Lyon Financial Services, Inc. d/b/a U.S. Bank Portfolio Services, as the
backup collateral manager. Capitalized terms used and not otherwise defined herein shall have the meanings given to such terms in the Sale and Servicing Agreement. 
 R E C I T A L S 
 WHEREAS, the parties
hereto, previously entered into the Sale and Servicing Agreement and certain other Transaction Documents (as defined in the Sale and Servicing Agreement); 
 WHEREAS, in accordance with Section 13.1 and 2.1 of the Sale and Servicing Agreement, the parties hereto desire to amend the Sale and Servicing Agreement to extend the Termination Date of the facility for
an additional period of 364 days; 
 NOW, THEREFORE, based upon the above Recitals, the mutual premises and agreements contained
herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows: 
 SECTION 1. AMENDMENT. 
 1. The
definition, “Termination Date” in Section 1.1 of the Sale and Servicing Agreement is hereby amended by: 
 (i) amending and restating clause (c) thereof in its entirety as follows: “(c) November 28, 2007 or such later date as such date may be extended pursuant to and in accordance with Section 2.1(d)”; and

 (ii) amending and restating clause (f) thereof in its entirety as follows: “(f) the Facility Termination Date
and”. 

 SECTION 2. AGREEMENT IN FULL FORCE AND EFFECT AS AMENDED. 
 Except as specifically amended hereby, all provisions of the Sale and Servicing Agreement shall remain in full force and effect. After this Amendment
becomes effective, all references to the Sale and Servicing Agreement, and corresponding references thereto or therein such as “hereof,” “herein,” or words of similar effect referring to the Sale and Servicing Agreement shall be
deemed to mean the Sale and Servicing Agreement as amended hereby. This Amendment shall not constitute a novation of the Sale and Servicing Agreement, but shall constitute an amendment thereof. This Amendment shall not be deemed to expressly or
impliedly waive, amend or supplement any provision of the Sale and Servicing Agreement other than as expressly set forth herein. 
 SECTION 3. REPRESENTATIONS. 
 Each of the Seller, the Fund and the Collateral Manager represents and warrants as of
the date of this Amendment as follows: 
 (i) it is duly incorporated or organized, validly existing and in good standing
under the laws of its jurisdiction of incorporation or organization; 
 (ii) the execution, delivery and performance by it of
this Amendment are within its powers, have been duly authorized, and do not contravene (A) its charter, by- laws, or other organizational documents, or (B) any Applicable Law; 
 (iii) no consent, license, permit, approval or authorization of, or registration, filing or declaration with any governmental authority,
is required in connection with the execution, delivery, performance, validity or enforceability of this Amendment by or against it; 
 (iv) this Amendment has been duly executed and delivered by it; 
 (v) this Amendment constitutes its legal, valid
and binding obligation enforceable against it in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights
generally or by general principles of equity; 
 (vi) it is not in default under the Sale and Servicing Agreement; and

 (vii) there is no Termination Event, Unmatured Termination Event, or Collateral Manager Default. 
 SECTION 4. CONDITIONS TO EFFECTIVENESS. 
 The effectiveness of this Amendment is conditioned upon the delivery of executed signature pages of this Amendment by all parties hereto to the Documentation Agent: 
  

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 SECTION 5. MISCELLANEOUS. 
 (a) Without in any way limiting any other obligation hereunder or under the Transaction Documents, the Seller agrees to provide, from time to time, any
additional documentation and to execute additional acknowledgements, amendments, instruments or other agreements as may be requested and reasonably required by any of the parties to the Transaction Documents to effectuate the foregoing. 

(b) This Amendment may be executed in any number of counterparts (including by facsimile), and by the different parties hereto on the same or separate
counterparts, each of which shall be deemed to be an original instrument but all of which together shall constitute one and the same agreement. 
 (c) The descriptive headings of the various sections of this Amendment are inserted for convenience of reference only and shall not be deemed to affect the meaning or construction of any of the provisions hereof. 
 (d) This Amendment may not be amended or otherwise modified except as provided in the Sale and Servicing Agreement. 
 (e) The failure or unenforceability of any provision hereof shall not affect the other provisions of this Amendment. 
 (f) Whenever the context and construction so require, all words used in the singular number herein shall be deemed to have been used in the plural, and
vice versa, and the masculine gender shall include the feminine and neuter and the neuter shall include the masculine and feminine. 
 (g)
This Amendment represents the final agreement between the parties and may not be contradicted by evidence of prior, contemporaneous or subsequent oral agreements between the parties. There are no unwritten oral agreements between the parties.

 (h) THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED AND
INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
 [Remainder of Page Intentionally Left Blank] 
  

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 IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by their respective officers
thereunto duly authorized, as of the date first above written. 
  

			
	NEWSTAR CREDIT OPPORTUNITIES FUNDING I LTD, as Seller
		
	By:	 	NewStar Financial, Inc., its Manager
		
	By:	 	  
		 	Name:
		 	Title:

  

			
	NEWSTAR CREDIT OPPORTUNITIES FUND, LTD, as the Fund
		
	By:	 	NewStar Financial, Inc., its Manager
		
	By:	 	  
		 	Name:
		 	Title:

  

			
	NEWSTAR FINANCIAL, INC., as Collateral Manager
		
	By:	 	  
		 	Name:
		 	Title:

 SIGNATURES CONTINUED ON FOLLOWING PAGE 
 3rd Amendment to Sale & Servicing Agreement 

			
	VARIABLE FUNDING CAPITAL COMPANY LLC, as a Purchaser
		
	By:	 	Wachovia Capital Markets, LLC, as attorney-in-fact
		
	By:	 	  
		 	Name:
		 	Title:

  

			
	WACHOVIA CAPITAL MARKETS, LLC, as the Documentation Agent and as the VFCC Agent
		
	By:	 	  
		 	Name:
		 	Title:

 SIGNATURES CONTINUED ON FOLLOWING PAGE 
 3rd Amendment to Sale & Servicing Agreement 

			
	MMP-5 FUNDING, LLC, as a Purchaser
		
	By:	 	  
		 	Name:
		 	Title:

  

			
	IXIS FINANCIAL PRODUCTS INC., as the Administrative Agent, Swingline Purchaser and the Purchaser Agent for MMP-5
		
	By:	 	  
		 	Name:
		 	Title:
		
	By:	 	  
		 	Name:
		 	Title:

 SIGNATURES CONTINUED ON FOLLOWING PAGE 
 3rd Amendment to Sale & Servicing Agreement 

			
	FAIRWAY FINANCE COMPANY, LLC, as a Purchaser
		
	By:	 	  
		 	Name:
		 	Title:

  

			
	BMO CAPITAL MARKETS CORP., as the Fairway Agent
		
	By:	 	  
		 	Name:
		 	Title:

 SIGNATURES CONTINUED ON FOLLOWING PAGE 
 3rd Amendment to Sale & Servicing Agreement 

			
	U.S. BANK NATIONAL ASSOCIATION, not in its individual capacity but solely as Collateral Administrator and Collateral Custodian
		
	By:	 	  
		 	Name:
		 	Title:

  

			
	LYON FINANCIAL SERVICES, INC. d/b/a U.S. Bank Portfolio Services, not in its individual capacity but solely as Backup Collateral Manager
		
	By:	 	  
		 	Name:
		 	Title:

 3rd Amendment to Sale & Servicing Agreement

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