Document:

Exhibit 10.26(E)

 

EXECUTION
VERSION

 

AMENDMENT NO. 2

TO PRICING SIDE LETTER

 

Amendment No.
2, dated as of March 21, 2006 (this “Amendment”), among CREDIT SUISSE,
NEW YORK BRANCH (the “Administrative Agent”), FIELDSTONE MORTGAGE
COMPANY and FIELDSTONE INVESTMENT CORPORATION (each a “Seller” and
collectively the “Sellers”) and the several Conduit Buyers and Committed
Buyers Party hereto from time to time.

 

RECITALS

 

The
Administrative Agent and the Sellers are parties to that certain Master
Repurchase Agreement, dated as of November 8, 2005 as amended by Amendment No.
1, dated as of January 23, 2006 (“Amendment No. 1”) (the “Master
Repurchase Agreement”) and that certain Pricing Side Letter, dated as of
November 8, 2005 (the “Existing Pricing Side Letter”; as amended by this
Amendment, the “Pricing Side Letter”). Capitalized terms used but not
otherwise defined herein shall have the meanings given to them in the Existing
Pricing Side Letter and Master Repurchase Agreement.

 

The
Administrative Agent and Sellers have agreed, subject to the terms and
conditions of this Amendment, that the Existing Pricing Side Letter be amended
to reflect certain agreed upon revisions to the terms of the Existing Pricing
Side Letter.

 

Accordingly,
the Administrative Agent and the Sellers hereby agree, in consideration of the
mutual premises and mutual obligations set forth herein, that the Existing
Pricing Side Letter is hereby amended as follows:

 

SECTION 1.  Definitions. Section 1.1 of the
Existing Pricing Side Letter is hereby amended by deleting clause (xxiv) of the
definition of “Asset Value” in its entirety and replacing it with the
following language:

 

“(xxxv) when
the Purchase Price for such Purchased Mortgage Loan is added to other Purchased
Mortgage Loans, the Outstanding Principal Balance of all 40 Year Mortgage
Loans, 30/40 Mortgage Loans and Interest Only that are Fixed Rate Mortgage
Loans, combined, is greater than or equal to 10% of the Outstanding Principal
Balance of all Fixed Rate Mortgage Loans;”

 

“(xxxvi) when
the Purchase Price for such Purchased Mortgage Loan is added to other Purchased
Mortgage Loans, the Outstanding Principal Balance of all 40 Year Mortgage
Loans, 30/40 Mortgage Loans and Interest Only Loans that are Floating Rate
Mortgage Loans, combined, is greater than or equal to 75% of the Outstanding
Principal Balance of all Floating Rate Mortgage Loans;”

 

SECTION 2.  Reaffirmation of Amendment No. 1. Each
of the Committed Buyer and the Conduit Buyer hereby ratify and affirm all of
the terms of Amendment No. 1.

 

 

SECTION 3.  Conditions Precedent. This Amendment
shall become effective on March 21, 2006 (the “Amendment Effective Date”),
subject to the satisfaction of the following conditions precedent:

 

3.1 Delivered Documents. On the Amendment
Effective Date, the Administrative Agent shall have received the following
documents, each of which shall be satisfactory to the Administrative Agent in
form and substance:

 

(a) this
Amendment, executed and delivered by the duly authorized officers of the
Administrative Agent, the Conduit Buyer, the Committed Buyer and the Sellers;
and

 

(b) such other
documents as the Administrative Agent or counsel to the Administrative Agent
may reasonably request.

 

SECTION 4.  Representations and Warranties. Each
Seller hereby represents and warrants to the Administrative Agent that it is in
compliance with all the terms and provisions set forth in the Existing Pricing
Side Letter and Master Repurchase Agreement on its part to be observed or
performed, and that no Event of Default has occurred or is continuing, and
hereby confirms and reaffirms the representations and warranties contained in
Section 13 of the Master Repurchase Agreement.

 

SECTION 5.  Limited Effect. Except as expressly
amended and modified by this Amendment, the Existing Pricing Side Letter shall
continue to be, and shall remain, in full force and effect in accordance with
its terms.

 

SECTION 6.  Counterparts. This Amendment may be
executed by each of the parties hereto on any number of separate counterparts,
each of which shall be an original and all of which taken together shall
constitute one and the same instrument.

 

SECTION 7.  GOVERNING LAW. THIS AMENDMENT SHALL BE
GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW
YORK WITHOUT REFERENCE TO THE CHOICE OF LAW PROVISIONS THEREOF.

 

[SIGNATURE PAGE FOLLOWS]

 

2

 

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

 

	
  Administrative
  Agent:

  	
  CREDIT
  SUISSE, NEW YORK BRANCH,

  as Administrative Agent

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Anthony
  Giordano

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Anthony
  Giordano

  
	
   

  	
   

  	
  Title:

  	
  Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Joseph
  Soave

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Joseph Soave

  
	
   

  	
   

  	
  Title:

  	
  Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Seller:

  	
  FIELDSTONE
  MORTGAGE COMPANY,

  as a Seller

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Mark C.
  Krebs

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Mark C.
  Krebs

  
	
   

  	
   

  	
  Title:

  	
  Sr. Vice
  President & Treasurer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Seller:

  	
  FIELDSTONE
  INVESTMENT

  CORPORATION,

  as a Seller

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Mark C.
  Krebs

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Mark C.
  Krebs

  
	
   

  	
   

  	
  Title:

  	
  Sr. Vice
  President & Treasurer

  
							

 

 

	
  Conduit
  Buyer:

  	
  ALPINE
  SECURITIZATION CORP.,

  as a Conduit Buyer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Anthony
  Giordano

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Anthony
  Giordano

  
	
   

  	
   

  	
  Title:

  	
  Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Joseph
  Soave

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Joseph Soave

  
	
   

  	
   

  	
  Title:

  	
  Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Committed
  Buyer:

  	
  CREDIT
  SUISSE, NEW YORK BRANCH,

  Individually and as a Committed Buyer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Joseph
  Soave

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Joseph Soave

  
	
   

  	
   

  	
  Title:

  	
  Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Anthony
  Giordano

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Anthony Giordano

  
	
   

  	
   

  	
  Title:

  	
  DirectorEXHIBIT 4.1

 

OMNIBUS AMENDMENT

TO

SWAP AGREEMENTS

 

This OMNIBUS AMENDMENT, dated as of April 10, 2006
(this “Amendment”), is entered into among: GE Capital Credit Card Master
Note Trust, a Delaware statutory trust (the “Trust”) and ABN AMRO BANK
N.V. (the “Counterparty”).

 

BACKGROUND

 

1.             The
Trust and the Counterparty are parties to swap agreements identified on Exhibit
A hereto (collectively, the “Swap Agreements”).

 

2.             The
Trust and the Counterparty desire to amend the Swap Agreements as set forth
herein.

 

AMENDMENTS

 

The parties hereto agree as follows:

 

SECTION 1. DEFINITIONS.
As used herein, (a) capitalized terms which are defined in the preamble
hereto shall have the meanings as so defined, and (b) capitalized terms not so
defined shall have the meanings set forth in the Swap Agreements.

 

SECTION 2. AMENDMENTS TO
SWAP AGREEMENTS. Each confirmation included in the Swap Agreements shall be
amended by deleting the definition of “Business Day” and substituting
therefore:

 

“Business Day:     New York
and Connecticut”.

 

SECTION 3. EFFECTIVENESS.
The amendments set forth in Section 2 above shall become effective as of
the date first written above; provided that (i) each of the Trust and
the Counterparty shall have executed a counterpart of this Amendment, and (ii)
the Rating Agency Condition shall have been satisfied with respect to the Swap
Agreements relating to the Series 2005-2 (Class A) Notes, Series 2005-2 (Class
B) Notes, Series 2005-2 (Class C), Series 2005-3 (Class B) Notes, and the
Series 2005-3 (Class C) Notes.

 

SECTION 4. BINDING EFFECT; RATIFICATION. (a)  On and after the execution and
delivery hereof, (i) this Amendment shall be a
part of each Swap Agreement amended hereby and (ii) each
reference in each such amended Swap Agreement to “this Agreement” or “hereof”, “hereunder”
or words of like import, and each reference in any related Indenture
Supplement, shall mean and be a reference to such Swap Agreement as amended
hereby.

 

(b)           Except
as expressly amended hereby, the Swap Agreements shall remain in full force and
effect and are hereby ratified and confirmed by the parties hereto.

 

 

SECTION 5. MISCELLANEOUS. (a) THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING SECTION 5-1401(1)
OF THE GENERAL OBLIGATIONS LAW, BUT WITHOUT REGARD TO ANY OTHER CONFLICT OF LAW
PROVISIONS THEREOF) AND ANY APPLICABLE LAWS OF THE UNITED STATES OF AMERICA.

 

(b)           Headings
used herein are for convenience of reference only and shall not affect the
meaning of this Amendment.

 

(c)           This
Amendment may be executed in any number of counterparts, and by the parties
hereto on separate counterparts, each of which shall be an original and all of
which taken together shall constitute one and the same agreement. Executed
counterparts may be delivered electronically.

 

* * * *
*

 

2

 

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

 

	
   

  	
  GE CAPITAL CREDIT CARD MASTER NOTE TRUST

  
	
   

  	
   

  
	
   

  	
  By: The Bank of New York (Delaware), not in
  its individual

  capacity, but as Trustee on behalf of the Issuer

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Kristine K. Gullo

  	
   

  
	
   

  	
   

  
	
   

  	
  Name: Kristine K. Gullo

  
	
   

  	
   

  
	
   

  	
  Title: Vice President

  

 

 

Omnibus Amendment to Swap

Agreements, ABN AMRO

 

S-1

 

	
  By:

  	
  /s/ Bob Furlong

  	
   

  	
  By:

  	
  /s/ Clifford Bullock

  	
   

  
	
   

  	
   

  
	
  ABN AMRO Bank N.V.

  	
   

  
	
   

  	
   

  
	
  Name: Bob Furlong

  	
  Name: Clifford Bullock

  
	
  Title: Authorized Signature

  	
  Title: Authorized Signature

  

 

S-2

 

EXHIBIT A

 

Series 2005-2
(Class A) ISDA 2002 Master Agreement (“Master Agreement”) dated as of
June 30, 2005, between ABN AMRO Bank N.V. and GE Capital Credit Card Master
Note Trust; the related Schedule to the Master Agreement dated as of June 30,
2005 between ABN AMRO Bank N.V. and GE Capital Credit Card Master Note Trust;
and the Confirmation dated June 30, 2005, Transaction Reference #
853197.6753050, between ABN AMRO Bank N.V. and GE Capital Credit Card Master
Note Trust, relating to Series 2005-2 (Class A);

 

Series 2005-2
(Class B) ISDA 2002 Master Agreement (“Master Agreement”) dated as of
June 30, 2005, between ABN AMRO Bank N.V. and GE Capital Credit Card Master
Note Trust; the related Schedule to the Master Agreement dated as of June 30,
2005 between ABN AMRO Bank N.V. and GE Capital Credit Card Master Note Trust;
and the Confirmation dated June 30, 2005, Transaction Reference #
853198.6753070, between ABN AMRO Bank N.V. and GE Capital Credit Card Master
Note Trust, relating to Series 2005-2 (Class B);

 

Series 2005-2
(Class C) ISDA 2002 Master Agreement (“Master Agreement”) dated as of
June 30, 2005, between ABN AMRO Bank N.V. and GE Capital Credit Card Master
Note Trust; the related Schedule to the Master Agreement dated as of June 30,
2005 between ABN AMRO Bank N.V. and GE Capital Credit Card Master Note Trust;
and the Confirmation dated June 30, 2005, Transaction Reference #
853199.6753090, between ABN AMRO Bank N.V. and GE Capital Credit Card Master
Note Trust, relating to Series 2005-2 (Class C);

 

Series 2005-3
(Class B) ISDA 2002 Master Agreement (“Master Agreement”) dated as of
June 30, 2005, between ABN AMRO Bank N.V. and GE Capital Credit Card Master
Note Trust; the related Schedule to the Master Agreement dated as of June 30,
2005 between ABN AMRO Bank N.V. and GE Capital Credit Card Master Note Trust;
and the Confirmation dated June 30, 2005, Transaction Reference #
853203.6753120, between ABN AMRO Bank N.V. and GE Capital Credit Card Master
Note Trust, relating to Series 2005-2 (Class B);

 

Series 2005-3
(Class C) ISDA 2002 Master Agreement (“Master Agreement”) dated as of
June 30, 2005, between ABN AMRO Bank N.V. and GE Capital Credit Card Master
Note Trust; the related Schedule to the Master Agreement dated as of June 30,
2005 between ABN AMRO Bank N.V. and GE Capital Credit Card Master Note Trust;
and the Confirmation dated June 30, 2005, Transaction Reference #
853204.6753150, between ABN AMRO Bank N.V. and GE Capital Credit Card Master
Note Trust, relating to Series 2005-3 (Class C);

 

Series
2005-VFN4 (Class A) ISDA 2002 Master Agreement (“Master Agreement”)
dated as of November 15, 2005, between ABN AMRO Bank N.V. and GE Capital Credit
Card Master Note Trust; the related Schedule to the Master Agreement dated as
of November 15, 2005 between ABN AMRO Bank N.V. and GE Capital Credit Card
Master Note Trust; and the Confirmation dated November 15, 2005, Transaction
Reference # 915741.7521240, between ABN AMRO Bank N.V. and GE Capital Credit
Card Master Note Trust, relating to Series 2005-2 (Class A);

 

Series
2005-VFN4 (Class B) ISDA 2002 Master Agreement (“Master Agreement”)
dated as of November 15, 2005, between ABN AMRO Bank N.V. and GE Capital Credit
Card Master Note

 

A-1

 

Trust; the
related Schedule to the Master Agreement dated as of November 15, 2005 between
ABN AMRO Bank N.V. and GE Capital Credit Card Master Note Trust; and the
Confirmation dated November 15, 2005, Transaction Reference # 915740.7521250,
between ABN AMRO Bank N.V. and GE Capital Credit Card Master Note Trust,
relating to Series 2005-2 (Class B).

 

A-2

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