Document:

Exhibit 10.102

Exhibit 10.102

Execution Copy

CONFIDENTIAL TREATMENT REQUESTED

INFORMATION FOR WHICH CONFIDENTIAL TREATMENT HAS BEEN REQUESTED IS OMITTED AND IS
IDENTIFIED BY THREE ASTERISKS, AS FOLLOWS “***”, AN UNREDACTED VERSION OF THIS DOCUMENT HAS BEEN
FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION

SECOND AMENDMENT TO LOAN SERVICING AGREEMENT

SECOND AMENDMENT, dated as of October 29, 2009 (this “ Second Amendment”), to the Loan
Servicing Agreement, dated as of May 28, 2008, as amended by the First Amendment to Loan Servicing
Agreement, dated as of February 23, 2009 (such agreement, as so amended, the “Loan Servicing
Agreement”), by and among, on the one hand, Bosco Credit LLC (“Bosco”), as owner, and Franklin
Credit Management Corporation, as servicer (the “Servicer”).

WHEREAS, Bosco and the Servicer desire to amend the Loan Servicing Agreement in accordance
with the terms hereof.

NOW THEREFORE, in consideration of the premises and other good and valuable consideration, the
parties hereto hereby agree as follows:

1. Definitions. Any capitalized term used herein and not defined shall have the
meaning assigned to it in the Loan Servicing Agreement, as amended by this Second Amendment (the
Loan Servicing Agreement as amended by this Second Amendment being called the “Amended Loan
Servicing Agreement”) or the Loan Agreement, dated as of May 28, 2008 (the “Loan Agreement”), among
the Borrowers, the Lenders party thereto, the Administrative Agent, and First City Servicing
Corporation, as Surveillance Agent, as amended.

2. Amendments. Effective on the Second Amendment Effective Date (as defined below) and
subject to the satisfaction of the conditions precedent set forth in Section 3 below, the parties
hereto agree as follows:

2.1 Exhibit D to the Loan Servicing Agreement is amended by deleting Exhibit D in its entirety
and replacing it with Exhibit D to this Second Amendment.

3. Conditions to Effectiveness. The effectiveness of this Second Amendment is subject
to the fulfillment, in a manner satisfactory to the Administrative Agent, of each of the following
conditions precedent (the date such conditions are fulfilled or waived by the Administrative Agent
is hereinafter referred to as the “Second Amendment Effective Date”):

(a) The representations and warranties of the Servicer and Bosco set forth herein, in Section
6 of the Loan Servicing Agreement and in each other Loan Document and certificate or other writing
delivered to the Administrative Agent pursuant hereto on or prior to the Second Amendment Effective
Date shall be correct in all material respects after giving effect to this Second Amendment on and
as of the Second Amendment Effective Date as though made on and as of such date (except to the
extent such representations and warranties expressly relate to an earlier date), and following the
execution of this Second Amendment, no Default or Event of Default shall have occurred and be
continuing on the Second Amendment Effective Date or would result from this Second Amendment
becoming effective in accordance with its terms;

 

 

(b) Bosco and the Servicer shall have executed this Second Amendment and shall have
received a counterpart to this Second Amendment;

(c) Bosco and the Servicer shall have delivered such other agreements, documents and
instruments as Administrative Agent may otherwise require, all of which shall be in form and
substance satisfactory to Administrative Agent and its legal counsel;

(d) Bosco shall have reimbursed Administrative Agent and Servicer for all reasonable legal and
other fees incurred by Administrative Agent and Servicer in connection with the preparation of this
Second Amendment; and

(e) All proceedings taken in connection with the transactions contemplated by this Second
Amendment and all documents, instruments and other legal matters incident thereto shall be
satisfactory to Administrative Agent and its counsel.

4. Representations and Warranties. Each of Bosco and the Servicer represents and
warrants as follows:

(a) The execution, delivery and performance by each of Bosco and the Servicer of this Second
Amendment and the performance by each of Bosco and the Servicer of the Amended Loan Servicing
Agreement have been duly authorized by all necessary action by each of Bosco and the Servicer, and
each of Bosco and the Servicer have all requisite power, authority and legal right to execute,
deliver and perform this Second Amendment and to perform the Amended Loan Servicing Agreement.

(b) This Second Amendment and the Amended Loan Servicing Agreement are the legal, valid and
binding obligations of each of Bosco and the Servicer, enforceable against each of Bosco and the
Servicer in accordance with the terms thereof, except as enforcement may be limited by equitable
principles (regardless of whether enforcement is sought in equity or at law) or by bankruptcy,
insolvency, reorganization, moratorium, or similar laws relating to or limiting creditors’ rights
generally.

(c) The representations and warranties contained in Section 6 of the Amended Loan Servicing
Agreement are correct after giving effect to this Second Amendment on and as of the Second
Amendment Effective Date as though made on and as of the Second Amendment Effective Date (except to
the extent such representations and warranties expressly relate to an earlier date.

(d) As of the date of this Second Amendment, it does not have, and hereby waives, remises and
releases any claims or causes of action of any kind against the Administrative Agent, any Lender or
any of their officers, directors, employees, agents, attorneys, or representatives, or against any
of their respective predecessors, successors, or assigns relating in any way to any event,
circumstance, action, or omission relative to any of the Loan Documents or any transaction
contemplated thereby, from the beginning of time through the date of this Second Amendment.

 

2

 

5. Reference to and Effect on Loan Documents.

(a) Upon the effectiveness of this Second Amendment pursuant to Section 3 hereof, on and after
the Second Amendment Effective Date, each reference to the Loan Servicing Agreement or the other
Loan Documents shall mean and be a reference to the Loan Servicing Agreement and the other Loan
Documents, respectively, as amended hereby.

(b) The execution, delivery and effectiveness of this Second Amendment shall not, except as
expressly provided herein, operate as a waiver of any right, power or remedy of the Administrative
Agent or the Lenders nor constitute a waiver of any provision of any of the Loan Documents, or any
other documents, instruments and agreements executed and/or delivered in connection therewith.

6. Miscellaneous.

(a) Continued Effectiveness of the Loan Servicing Agreement. Except as otherwise
expressly provided herein, the Loan Servicing Agreement, as amended hereby, and the other Loan
Documents are, and shall continue to be, in full force and effect and are hereby ratified and
confirmed in all respects, except that on and after the Second Amendment Effective Date all
references in the other Loan Documents to the “Loan Servicing Agreement”, “thereto”, “thereof”,
“thereunder” or words of like import referring to the Loan Servicing Agreement shall mean the
Amended Loan Servicing Agreement.

(b) Counterparts. This Second Amendment may be executed in any number of counterparts
and by different parties hereto in separate counterparts, each of which shall be deemed to be an
original, but all of which taken together shall constitute one and the same agreement. Delivery of
an executed counterpart of this Second Amendment by facsimile or electronic mail shall be equally
as effective as delivery of an original executed counterpart of this Second Amendment.

(c) Headings. Section headings herein are included for convenience of reference only
and shall not constitute a part of this Second Amendment for any other purpose.

(d) Costs and Expenses. Bosco agrees to pay on demand all reasonable fees, costs and
expenses (including reasonable legal fees and expenses) of the Administrative Agent, Servicer and
the Lenders in connection with the preparation, execution and delivery of this Second Amendment.

(e) Amendment as Loan Document. Bosco and the Servicer hereby acknowledge and agree
that this Second Amendment constitutes a “Loan Document” under the Loan Agreement. Accordingly, it
shall be an Event of Default under the Loan Agreement if any representation or warranty made by
Bosco or the Servicer under or in connection with this Second Amendment shall have been untrue,
false or misleading in any material respect when made.

 

3

 

(f) Governing Law. This Second Amendment shall be governed by the laws of the State of
New York.

(g) Waiver of Jury Trial. THE PARTIES HERETO HEREBY IRREVOCABLY WAIVE THEIR RESPECTIVE
RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS SECOND
AMENDMENT OR ANY OF THE TRANSACTIONS CONTEMPLATED HEREIN, INCLUDING CONTRACT CLAIMS, TORT CLAIMS,
BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW OR STATUTORY CLAIMS.

[Remainder of this Page Intentionally Left Blank.]

 

4

 

IN WITNESS WHEREOF, the parties hereto have caused this Second Amendment to be executed and
delivered as of the date first above written.

	 	 	 	 	 
	 	FRANKLIN CREDIT MANAGEMENT CORPORATION

 	 
	 	By:  	/s/ Kevin Gildea
 	 
	 	 	Name:  	Kevin Gildea 	 
	 	 	Title:  	Chief Legal Officer 	 
	 

Signature Page to

Second

Amendment

to Loan Servicing

Agreement

 

 

	 	 	 	 	 
	 	BOSCO CREDIT LLC

 	 
	 	By:  	/s/ Thomas Axon
 	 
	 	 	Name:  	Thomas Axon 	 
	 	 	Title:  	Managing Member 	 
	 

Signature Page to

Second

Amendment

to Loan Servicing

Agreement

 

 

	 	 	 	 	 
	STATE OF NEW JERSEY
	 	)	 	 
	 
	 	)	 	ss:
	COUNTY OF HUDSON
	 	)	 	 

On
the 28th day of October, 2009 before me, a Notary Public
in and for said State, personally appeared Kevin Gildea, known to me to be Chief Legal
Officer of Franklin Credit Management Corporation the corporation that executed the
within instrument and also known to me to be the person who executed it on behalf of said
corporation, and acknowledged to me that such corporation executed the within instrument.

IN WITNESS WHEREOF, I have hereunto set my hand affixed my office seal the day and year in
this certificate first above written.

	 	 	 	 	 
	 	 	 
	 	                                                  /s/ Donna M. Bonfiglio
 	 
	 	Notary Public
 	 
	 	My Commission
expires February 25, 2011	 
	 

Signature Page to

Second

Amendment

to Loan Servicing

Agreement

 

 

	 	 	 	 	 
	STATE OF NEW JERSEY
	 	)	 	 
	 
	 	)	 	ss:
	COUNTY OF HUDSON
	 	)	 	 

On
the
28th day of October, 2009 before me, a Notary Public
in and for said State, personally appeared Thomas Axon, known to me to be Managing
Member of Bosco Credit LLC the corporation that executed the within instrument and also
known to me to be the person who executed it on behalf of said corporation, and acknowledged to me
that such corporation executed the within instrument.

IN WITNESS WHEREOF, I have hereunto set my hand affixed my office seal the day and year in
this certificate first above written.

	 	 	 	 	 
	 	 	 
	 	

/s/ Donna M. Bonfiglio
 	 
	 	Notary Public
 	 
	 	My Commission
expires February 25, 2011	 
	 

Signature Page to

Second

Amendment

to Loan Servicing

Agreement

 

 

EXHIBIT D

SERVICING FEE SCHEDULE

AMOUNT OF SERVICING FEE.

In return for services rendered by Franklin Credit for the Owner, Franklin Credit will be
compensated with a monthly servicing fee for each month equal to the sum of (x) the greater of
$50,000 or the amounts determined pursuant to paragraphs I and II below and (y) any amounts arising
under paragraph III below.

Servicing:

	 	I.	 	For Mortgage Loans less than 180 days contractually past due, Servicing Fees:

	 	a)	 	Franklin Credit will be paid a monthly servicing fee at a
Servicing Fee Rate equal to (x) the highest daily aggregate outstanding
principal balance of such Mortgage Loans serviced by the Servicer for the
previous month), times (y) ***, divided by (z) twelve. Each month the Servicer
will retain or receive an amount equal to such servicing fee.
	 
	 	b)	 	Franklin Credit will be paid ***, of the amount of each
principal payment indefeasibly collected, in each instance of the Mortgage
Loans serviced by Servicer for the Owner pursuant to the Loan Servicing
Agreement.

	 	II.	 	Other Fees

	 	A.	 	For Mortgage Loans less than 180 days contractually past due,
Ancillary Fees paid by borrowers to be retained by Franklin Credit (income
derived from Mortgage Loans):

	 	a.	 	Subordination fees
	 
	 	b.	 	Insufficient fund fees
	 
	 	c.	 	Late Payment Fees
	 
	 	d.	 	Prepayment Penalty Fees
	 
	 	e.	 	Release Fees
	 
	 	f.	 	Satisfaction fees
	 
	 	g.	 	All other incidental fees and charges received by Franklin
Credit

	 	B.	 	For all Mortgage Loans, Loan Level Charges:

	 	a)	 	Loan Set Up Fee: $*** per Mortgage Loan
	 
	 	b)	 	Deboarding Fee: $*** per Mortgage Loan (exclusive of
out of pocket transfer related expenses)

	 	C.	 	For all Mortgage Loans 180 or more days contractually past due, Resolution Fees:

					
	 
	Recovery Collection	 	 	 	 
	(judgments and unsecured loans)
	 	*** of recovered amount per loan
	 	 

	 	III.	 	For all Mortgage Loans, Servicing Advances and Door Knock fees:

 

i

 

A. Servicing Advances: Third party charges (e.g., force place insurance, credit reports,
title searches, tax searches, appraisal/ bpo, legal fees, reo maintenance, taxes, insurance etc.) +
Advances reimbursed to Franklin Credit.

B. Face to Face “Door Knock” field contact services: Upon request, at a fee to be negotiated by the
parties in good faith, and subject to the terms and conditions of a separate written agreement
mutually acceptable to the parties.

With respect to subparagraphs A and B, above, the Owner and Servicer agree and acknowledge that
Servicer will not or be required to perform any Face to Face “Door Knock” field contact services or
make any Servicing Advances that individually or in the aggregate would result in a cost or expense
to the Owner of more than $10,000 per month, without the prior written consent and approval of the
Lenders.

DEFERRAL OF A PORTION OF SERVICING FEE.

To the extent the amounts included in the Servicing Fee by virtue of paragraphs I and II above
for any month exceeds the greater of (x) $50,000 or (y) 10% of the total cash collected on the
Mortgage Loans for such month (the Monthly Cap”), payment of the excess amount shall be deferred
(without accruing interest during the period of deferral). The cumulative amounts deferred, if any,
shall be paid (i) with the payment of the Servicing Fees for any month in which the applicable
Monthly Cap exceeds the Servicing Fees otherwise payable, up to the amount of such excess, and (ii)
to the extent not previously paid, on the date on which any of the Notes under the Loan Agreement,
is repaid, refinanced, released, accelerated, or the amounts owing thereunder increased (other than
by accrual or capitalization of interest), provided, however, that if the deferred Servicing Fees
become payable by reason of acceleration of the Notes, the Lenders’ right to payment under such
Notes shall be prior in right of payment to Servicer’s rights to such deferred Servicing Fees. Any
Servicing Fees deferred prior to the date of this Second Amendment shall be subject to payment in
accordance with the terms of this paragraph.

 

iiExhibit 10.103

Exhibit
10.103

EXECUTION COPY

AMENDMENT NO. 3 TO

FIRST AMENDED AND RESTATED FORBEARANCE AGREEMENT

AND AMENDMENT TO CREDIT AGREEMENTS

THIS AMENDMENT NO. 3 TO FIRST AMENDED AND RESTATED FORBEARANCE AGREEMENT AND AMENDMENT TO
CREDIT AGREEMENTS (this “Amendment”), is effective as of the 30th day of
September, 2009 (the “Amendment Effective Date”), by and among FRANKLIN CREDIT ASSET
CORPORATION (“Franklin Asset”), FRANKLIN CREDIT HOLDING CORPORATION (“Holding”),
Flow 2006 F CORP., FCMC 2006 M CORP., FCMC 2006 K CORP. and THE HUNTINGTON NATIONAL BANK
(“Lender”). This Amendment further amends and modifies a certain First Amended and
Restated Forbearance Agreement and Amendment to Credit Agreements, dated as of December 19, 2008
(the “Forbearance Agreement”) by and among the parties hereto and certain other borrowers
party to such Forbearance Agreement. All capitalized terms not otherwise defined herein shall have
the meanings ascribed to such terms in the Forbearance Agreement. Franklin Asset, Holding and each
Static Loan Borrower (as defined below) shall be individually an “Amendment Loan Party”and
together the “Amendment Loan Parties.”

WHEREAS, Flow 2006 F Corp., FCMC 2006 M Corp., and FCMC 2006 K Corp. (together, the
“Static Loan Borrowers”), Franklin Credit Management Corporation (“FCMC”), Franklin
Asset, certain other borrowers party thereto, and Lender are parties to that certain Master Credit
and Security Agreement, dated as of October 13, 2004, as the same has been amended, supplemented,
restated, or otherwise modified prior to the date of this Amendment (the “Franklin Master
Agreement”), pursuant to which Lender holds certain outstanding loans evidenced by (i) a
certain Flow 2006 F Corp. note dated December 1, 2006, in the original principal amount of
$19,863,972.93, (ii) a certain FCMC 2006 M Corp. amended and restated note dated August 30, 2006,
in the original principal amount of $16,183,766.66, and (iii) a certain FCMC 2006 K Corp. amended
and restated promissory note dated August 30, 2006, in the original principal amount of
$14,433,383.90 (collectively, the “Static Loans”);

WHEREAS, FCMC was an original party to the Franklin Master Agreement and the Forbearance
Agreement, but, as clarified by a certain Amendment No. 1 to First Amended and Restated Forbearance
Agreement and Amendment to Credit Agreements dated April 20, 2009, Franklin Asset is now the
“Company”under such agreements, and FCMC has no obligation under the Forbearance Agreement and the
Franklin Master Agreement;

WHEREAS, the Static Loan Borrowers have defaulted and may continue to default under the
Forbearance Agreement, the Franklin Master Agreement and the promissory notes and other Loan
Documents executed in connection therewith in respect of (i) their failure to make scheduled
principal and interest payments when due thereunder, and (ii) their failure after the Amendment
Effective Date to make any scheduled principal and interest payments due thereunder as a result of
the cash flow from the Mortgage Loans securing the Static Loans being
insufficient to pay such amounts (collectively the defaults under clauses (i) and (ii) above shall
be referred to as the “Identified Forbearance Defaults”);

 

 

 

WHEREAS, pursuant to the terms of the Forbearance Agreement, Lender has agreed not to exercise
its rights to initiate proceedings to foreclose or otherwise realize upon the Mortgage Loans
securing the Static Loans prior to September 30, 2009, and the Static Loan Borrowers have requested
that Lender extend such forbearance through and including March 31, 2010;

WHEREAS, Franklin Asset owns and holds of 100% of the Capital Stock of, among other
Subsidiaries, the Static Loan Borrowers;

NOW, THEREFORE, the parties hereto agree as follows:

1. Extension of Forbearance for the Static Loans. The first sentence of Section 1(a)
of the Forbearance Agreement is deleted and is hereby replaced with the following:

Absent the occurrence and continuance of a Forbearance Default other than an
Identified Forbearance Default, prior to March 31, 2010 (the “Forbearance
Date”), Lender agrees not to initiate collection proceedings or exercise its
remedies under the Loan Documents in respect of any Static Loan against any Loan
Party or any Collateral for such Static Loan or elect to have interest accrue under
the respective Loan Documents at the stated rate applicable after default.

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

(a) Lender shall have received execution and delivery of, to the satisfaction of
Lender and its counsel, three (3) duly executed copies of this Amendment;

(b) The representations contained in the immediately following paragraph shall be true
and accurate.

3. Representations and Warranties. Each Amendment Loan Party represents and warrants
to Lender as follows: except in respect of the Identified Forbearance Defaults, (a) the execution,
delivery, and performance of this Amendment by each Amendment Loan Party has been duly authorized
by all requisite corporate or organizational action on the part of such Amendment Loan Party and
will not violate any of its organizational documents; (c) this Amendment has been duly executed and
delivered by each Amendment Loan Party, and each of this Amendment, the Forbearance Agreement, and
each other Loan Document as amended hereby constitutes the legal, valid, and binding obligation of
each Amendment Loan Party, enforceable against such Amendment Loan Party in accordance with the
terms thereof; and (d) no event has occurred and is continuing, and no condition exists, which
would constitute a Forbearance Default.

 

 

 

4. Ratification and Reaffirmation. Each Amendment Loan Party agrees (i) that all the
obligations, indebtedness, and liabilities of each Static Loan Borrower to Lender under the
Forbearance Agreement are the valid and binding obligations of such Static Loan Borrower; (ii)
that the obligations, indebtedness, and liabilities of each Static Loan Borrower evidenced by
each Loan Document executed and delivered by each Static Loan Borrower is valid and binding without
any present right of offset, claim, defense, or recoupment of any kind and are hereby ratified and
confirmed in all respects; and (iii) that the Liens and security interests granted to Lender as
security for all obligations and liabilities of each Static Loan Borrower under the Forbearance
Agreement and the other Loan Documents are valid and binding and are hereby ratified and confirmed
in all respects.

5. Reference to and Effect on the Loan Documents. Upon the effectiveness of this
Amendment, each reference in the Forbearance Agreement to “Forbearance Agreement and Amendment to
Credit Agreements,”“Forbearance Agreement,”“Agreement,”the prefix “herein,”“hereof,”or words of
similar import, and each reference in the Loan Documents to the Forbearance Agreement, shall mean
and be a reference to the Forbearance Agreement as amended hereby. In respect of each Static Loan
Borrower, except to the extent amended or modified hereby, all of the representations, warranties,
terms, covenants, and conditions of the Forbearance 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 which Lender 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 Lender’s rights under, or of any other term or provisions of, the
Forbearance 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 which would require
the consent of Lender.

6. Waiver and Release of All Claims and Defenses; Communications.

(a) Each Amendment Loan Party, for itself and its respective successors and assigns,
agents, employees, officers, and directors, hereby forever waive, relinquish, discharge, and
release all defenses and Claims of every kind or nature, whether existing by virtue of
state, federal, or local law, by agreement, or otherwise, against (i) Lender, its
successors, assigns, directors, officers, shareholders, agents, employees, and attorneys,
and (ii) all participants in any Commercial Loans or Advances, such participants’
successors, assigns, directors, officers, shareholders, agents, employees, and attorneys,
(iii) any obligation evidenced by any Credit Agreement, any promissory note, instrument, or
other Loan Document in connection therewith, and (iv) any Collateral, in each instance,
which any Amendment Loan Party, may have or may have made at any time up through and
including the date of this Amendment, including without limitation, any affirmative
defenses, counterclaims, setoffs, deductions, or recoupments, by any Amendment Loan Party.
“Claims”means all debts, demands, actions, causes of action, suits, dues, sums of
money, accounts, bonds, warranties, covenants, contracts, controversies, promises,
agreements, or obligations of any kind, type, or description, and any other claim or demand
of any nature whatsoever, whether known or unknown, accrued or unaccrued, disputed or
undisputed, liquidated of contingent, in contract, tort, at law, or in equity, which any
Amendment Loan Party, claimed to have, now has, or shall or may have. The term Claims also
includes all causes of action, liabilities, and rights
arising under or by virtue of any Credit Agreement, promissory note, or other document
or any transaction entered into in connection therewith. Nothing contained in this
Amendment prevents enforcement of this waiver and release.

 

 

 

(b) Each party to this Amendment acknowledges and agrees that one purpose of this
Amendment is to facilitate the resolution of the Identified Forbearance Defaults and that,
consistent with such purpose, no part of any oral or written communications between or among
any Amendment Loan Party or Lender regarding the transactions contemplated in this
Amendment, exclusive of this written Amendment itself (collectively,
“Communications”), shall be utilized or deemed to be admissible as evidence in any
litigation involving any party to this Amendment. Communications shall be deemed to
constitute “compromise negotiations,”and not to constitute evidence that is
“discoverable,”as those phrases are used in the Federal Rules of Evidence and any applicable
state rules of evidence, and no Communications shall be deemed to constitute evidence that
is otherwise admissible for any other purpose.

(c) The release and communication provisions provided by paragraphs (a) and (b) of this
Section, shall survive and continue in full force and effect notwithstanding the occurrence
of a Forbearance Default under the terms of this Amendment or the termination of this
Amendment.

7. No Waiver. Nothing in this Amendment shall be construed to waive, modify, or cure
any default or Event of Default or Forbearance Default (other than the Identified Forbearance
Defaults) that exist that exists or may exist under the Forbearance Agreement or other Loan
Document.

8. 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.

9. 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 Lender of a facsimile copy of an executed signature page hereof will constitute receipt
by Lender of an executed counterpart of this Amendment.

 

 

 

10. Costs and Expenses. Each Amendment Loan Party agrees to pay on demand all costs
and expenses of Lender in connection with the preparation, reproduction, execution, and delivery of
this Amendment and all other Loan Documents entered into in connection herewith, including the
reasonable fees and out-of-pocket expenses of Lender’s counsel with respect thereto.

11. Further Assurances. Each Amendment Loan Party agrees to execute and deliver such
additional documents, instruments, and agreements reasonably requested by Lender as may be
reasonably necessary or appropriate to effectuate the purposes of this Amendment.

12. 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.

13. 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.

14. Patriot Act Notice. Lender hereby notifies each Amendment Loan Party 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 party hereto, which information includes the name and address of each
Amendment Loan Party and other information that will allow Lender to identify each such party in
accordance with the Act.

[Signature page follows.]

 

 

 

IN WITNESS WHEREOF, the parties hereto have hereunto set their hands as of the Amendment
Effective Date.

	 	 	 	 	 
	 	AMENDMENT LOAN PARTIES:

FRANKLIN CREDIT ASSET CORPORATION

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

Address for Notices:

101 Hudson St., 25th Floor

Jersey City, New Jersey 07302

Fax: (201) 604-4400

Attention: General Counsel

	 	 	 	 	 
	 	FRANKLIN CREDIT HOLDING CORPORATION

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

Address for Notices:

Same as above

	 	 	 	 	 
	 	FLOW 2006 F CORP.

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

Address for Notices:

Same as above

Signature Page to Amendment No. 3 to First Amended and Restated Forbearance Agreement and Amendment to Credit Agreements

 

 

 

	 	 	 	 	 
	 	FCMC 2006 M CORP.

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

Address for Notices:

Same as above

	 	 	 	 	 
	 	FCMC 2006 K CORP.

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

Address for Notices:

Same as above

Signature Page to Amendment No. 3 to First Amended and Restated Forbearance Agreement and Amendment to Credit Agreements

 

 

 

	 	 	 	 	 
	 	LENDER: 

THE HUNTINGTON NATIONAL BANK

 	 
	 	By:  	/s/ Alan D. Seitz
 	 
	 	 	Name:  	Alan D. Seitz 	 
	 	 	Title:  	Senior Vice President 	 
	 

Address for Notices:

41 South High Street (HCO810)

Columbus, Ohio 43229

Attn: Commercial Lending

Telephone No.: (614) 480-5355

Telecopier No.: (614) 480-3795

With a copy to:

Porter Wright Morris & Arthur LLP

41 South High Street

Columbus, Ohio 43215

Attn: Timothy E. Grady, Esq.

Telecopier No.: (614) 227-2105

Telephone No.: (614) 227-2100

Signature Page to Amendment No. 3 to First Amended and Restated Forbearance Agreement and Amendment to Credit Agreements

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