Document:

Amendment No. 2 to the Amended and Restated Sale and Servicing Agreement

 Exhibit 10.7.3 
 AMENDMENT NO. 2 TO THE AMENDED AND 
 RESTATED SALE AND SERVICING AGREEMENT

 THIS AMENDMENT NO. 2 TO THE AMENDED AND RESTATED SALE AND SERVICING AGREEMENT, dated as of July 10, 2006 (this
“Amendment”), is entered into in connection with that certain Amended and Restated Sale and Servicing Agreement, dated as of April 5, 2006 (such agreement as amended, modified, supplemented, waived or restated from time to
time, the “Agreement”), by and among NEWSTAR CP FUNDING LLC, a Delaware limited liability company, as the seller (together with its successors and assigns in such capacity, the “Seller”), NEWSTAR FINANCIAL INC., a
Delaware corporation (together with its successors and assigns, the “Company”), as the originator (together with its successors and assigns in such capacity, the “Originator”), and as the servicer (together with its
successors and assigns in such capacity, the “Servicer”), WACHOVIA BANK, NATIONAL ASSOCIATION, a national banking association (together with its successor and assigns, “Wachovia”), as the swingline purchaser
(together with its successor and assigns in such capacity, the “Swingline Purchaser”), certain conduit purchasers and purchaser agents party thereto (each, together with its successors and assigns in such capacity, a
“Conduit Purchaser” and a “Purchaser” and, collectively with the Swingline Purchaser, the “Purchasers”), WACHOVIA CAPITAL MARKETS, LLC, a Delaware limited liability company (together with its
successor and assigns, “WCM”), as the administrative agent (together with its successor and assigns in such capacity, the “Administrative Agent”), and as the Purchaser Agent with respect to Variable Funding Capital
Company LLC as Conduit Purchaser (together with its successor and assigns in such capacity, the “VFCC Agent”), U.S. BANK NATIONAL ASSOCIATION, a national banking association (together with its successor and assigns, “US
Bank”), not in its individual capacity but as the trustee (together with its successor and assigns in such capacity, the “Trustee”), and LYON FINANCIAL SERVICES, INC., a Minnesota corporation, doing business as U.S. Bank
Portfolio Services, not in its individual capacity but as the backup servicer (together with its successor and assigns in such capacity, the “Backup Servicer”). Capitalized terms used and not otherwise defined herein are used as
defined in the Agreement. 
 R E C I T A L S 
 WHEREAS, the above-named parties have entered into the Agreement, and, pursuant to and in accordance with Section 13.1 thereof, the Seller, the Servicer, the Administrative Agent and each of the Purchasers
desire to amend certain provisions of the Agreement in certain respects as provided herein; 
 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. Amendments. 
 (a) The definition of “Advance Rate” in Section 1.1 of the Agreement is hereby amended by deleting the table under the heading “Middle Market Loans and ABS Direct Loans” and inserting the
words “As set forth on Schedule X” in its place. 

 (b) The definition of “Concentration Limits” in Section 1.1 of the Agreement is hereby
amended by amending and restating clause (b) thereof in its entirety as follows: 
 “(b) the sum of the Principal
Balances of Eligible Assets that are Loans to a single Obligor (including any Affiliates thereof) shall not exceed $25,000,000; provided, that, with respect to no more than three Obligors at any one time, for a period of 90 days after
each such Loan becomes part of the Collateral, the sum of the Principal Balances of Eligible Assets that are Loans to a single Obligor (including any Affiliates thereof) shall not exceed $40,000,000, in each case, subject to the approval of the
Administrative Agent in its sole discretion;” 
 (c) The definition of “Weighted Average Rating Factor” in Section 1.1 of
the Agreement is hereby amended by amending and restating such definition in its entirety as follows: 
 “Weighted
Average Rating Factor”: As of any Measurement Date, the number obtained by (a) multiplying the Principal Balance of each Middle Market Loan and ABS Direct Loan (included in the Borrowing Base) by its Moody’s Rating Factor on any
Measurement Date; (b) summing the products obtained in clause (a) for all Middle Market Loans and ABS Direct Loans; (c) dividing the sum obtained in clause (b) by the sum of the Principal Balances of all Middle
Market Loans and ABS Direct Loans on such Measurement Date; (d) rounding the result to the nearest whole number; and (e) subtracting the WARF Modifier; provided, however, that (i) after giving effect to clause
(e) of this definition, the Weighted Average Rating Factor shall not be less than 2250, and (ii) clause (e) of this definition shall not apply in the event that the Weighted Average Rating Factor is less than 2250 after giving effect
to clauses (a), (b), (c) and (d); 
 (d) Section 1.1 of the Agreement is hereby amended by adding the following definitions in
proper alphabetical order: 
 “LIBOR” means on any date of determination (a) the posted rate for
one-month deposits in United States Dollars appearing on Telerate page 3750, or a successor page, as of 11:00 a.m. (London time) on such day or (b) if no such rate appears on Telerate page 3750, or a successor page, at such time and day, then
LIBOR shall be determined by Wachovia at its principal office in Charlotte, North Carolina as its rate (each such determination, absent manifest error, to be conclusive and binding on all parties hereto and their assignees) at which 30 day deposits
in United States Dollars are being, have been, or would be offered or quoted by Wachovia to major banks in the applicable interbank market for Eurodollar deposits at or about 11:00 a.m. (Charlotte, North Carolina time) on such day. 
  

 - 2 - 

 “Moody’s Recovery Rate” means, with respect to any Middle Market
Loan or ABS Direct Loan, the recovery rate specified by Moody’s for such Loan: 
  

				
	 Moody’s Category
	  	Recovery
Rate	 
	 Senior Secured ABL Loan
	  	60	%
	 Senior Secured Loan
	  	50	%
	 Stretch Senior Secured Loan
	  	50	%
	 LOT Loan
	  	40	%
	 Second Lien Loan
	  	40	%
	 Subordinated Loan
	  	30	%
	 DIP Loan
	  	50	%
	 ABS Direct Loan
	  	25	%

 “Moody’s Weighted Average Recovery Rate” means, as of any
Measurement Date, the percentage (rounded up to the first decimal place) obtained by dividing (a) the sum of the products obtained by multiplying the outstanding Principal Balance of each Middle Market Loan and ABS Direct Loan by its
Moody’s Recovery Rate, by (b) the aggregate Principal Balance of all Middle Market Loans and ABS Direct Loans as of such date. 
 “WARF Modifier” means an amount equal to, as of any date of determination, the product of (i) the excess, if any, of the Moody’s Weighted Average Recovery Rate as of such date of
determination over 40% times (ii) 38 times (iii) 100. 
 “Weighted Average
Spread”: As of any Measurement Date, a fraction (expressed as a percentage and rounded up to the next 0.001%), (a) the numerator of which is the sum of the products determined by multiplying the outstanding Principal Balance of each
Middle Market Loan and ABS Direct Loan (excluding Charged-Off Loans and Delinquent Loans) in the Collateral as of such Measurement Date by (i) in the case of Middle Market Loans or ABS Direct Loans that are Floating Rate Loans, the stated
spread above or below LIBOR of the current interest rate applicable to such Loan or (ii) in the case of Middle Market Loans or ABS Direct Loans that are Fixed Rate Loans, the spread above or below LIBOR of the interest rate applicable to such
Loan calculated on any Measurement Date by the Servicer in its sole discretion on behalf of the Administrative Agent by subtracting LIBOR from the interest rate of such Loan, and (b) the denominator of which is the sum of the outstanding
Principal Balances of all Middle Market Loan and ABS Direct Loans (excluding Charged-Off Loans and Delinquent Loans) in the Collateral as of such Measurement Date; provided that for purposes of this definition, (1) no contingent payment
of interest will be included in such calculation; (2) any interest rate payable by an Obligor shall exclude any portion of the interest that is 

  

 - 3 - 

 
currently being deferred in violation of the terms of the related Required Loan Documents; (3) in the case of interest rate for a Middle Market Loan or
ABS Direct Loan that is a Floating Rate Loan not expressed as a stated spread above or below LIBOR, the stated spread to LIBOR relating to such Loan shall be calculated on any Measurement Date by the Servicer in its sole discretion on behalf of the
Administrative Agent by subtracting LIBOR from the interest rate of such Loan; and (4) Middle Market Loans or ABS Direct Loans that are Charged-Off Loans and Delinquent Loans will be included in the calculations described herein if, as of such
Measurement Date, such Loans are paying in full current interest pursuant to the terms of their respective Underlying Instruments. 
 (e)
Schedule X, in the form of Exhibit A attached hereto, shall be inserted in the Agreement immediately following Schedule IX. 
 SECTION 2.
Agreement in Full Force and Effect as Amended. Except as specifically amended hereby, the Agreement shall remain in full force and effect. All references to the Agreement shall be deemed to mean the Agreement as modified hereby. This
Amendment shall not constitute a novation of the Agreement, but shall constitute an amendment thereof. The parties hereto agree to be bound by the terms and conditions of the Agreement, as amended by this Amendment, as though such terms and
conditions were set forth herein. 
 SECTION 3. Conditions Precedent. 
 The effectiveness of this Amendment is subject to the due execution of this Amendment by each of the parties hereto. 
 SECTION 4. Miscellaneous. 
 (a) This Amendment may be executed in any number of counterparts, 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. 
 (b) 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. 
 (c) This Amendment may
not be amended or otherwise modified except as provided in the Agreement. 
 (d) The failure or unenforceability of any provision hereof
shall not affect the other provisions of this Amendment. 
 (e) 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. 
  

 - 4 - 

 (f) 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. 
 (g) 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 WITHOUT REFERENCE TO ITS CONFLICT OF LAWS
PROVISIONS. 
  

 - 5 - 

 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. 
  

									
	THE SELLER:	 		 	NEWSTAR CP FUNDING LLC
					
		 		 		 	 By:
	 	NewStar Financial, Inc., its Designated Manager
					
		 		 		 	 By:
	 	/S/    JOHN J. FRISHKOPF
		 		 		 		 	Name: John J. Frishkopf
		 		 		 		 	Title: Managing Director
			
	THE SERVICER:	 		 	NEWSTAR FINANCIAL, INC.
					
		 		 		 	 By:
	 	/S/    JOHN J. FRISHKOPF
		 		 		 		 	Name: John J. Frishkopf
		 		 		 		 	Title: Managing Director
			
	THE ADMINISTRATIVE AGENT:	 		 	WACHOVIA CAPITAL MARKETS, LLC
					
		 		 		 	 By:
	 	/S/     CRAIG BENTON
		 		 		 		 	Name: Craig Benton
		 		 		 		 	Title: Vice President
			
	THE PURCHASER:	 		 	VARIABLE FUNDING CAPITAL COMPANY LLC
					
		 		 		 	 By:
	 	Wachovia Capital Markets, LLC, as attorney-in-fact
					
		 		 		 	 By:
	 	/S/    BRYAN P. MCGRATH
		 		 		 		 	Name: Bryan P. McGrath
		 		 		 		 	Title: Vice President

 [Signatures Continued on the Following Page] 
 Amendment No. 2 to Amended and Restated SSA 

									
	THE SWINGLINE PURCHASER:	 		 	WACHOVIA BANK, NATIONAL ASSOCIATION
					
		 		 		 	 By:
	 	  
		 		 		 		 	Name:
		 		 		 		 	Title:

 Amendment No. 2 to Amended and Restated SSA 

 Exhibit A 
 SCHEDULE X 
 Middle Market Loans and ABS Direct Loans 
 Weighted Average Spread: 3.70% 
 Weighted Average Rating Factor (WARF) 
  

																																														
	 	 	3750 to
3625	 	 	3624 to
3499	 	 	3500 to
3375	 	 	3374 to
3250	 	 	3249 to
3125	 	 	3124 to
3000	 	 	2999 to
2875	 	 	2874 to
2750	 	 	2749 to
2625	 	 	2624 to
2500	 	 	2499 to
2375	 	 	2374 to
2250	 	 	2249 to
2125	 	 	2124 to
2000	 	 	< 2000	 
	 1 to 2
	 	67	%	 	67	%	 	68	%	 	68	%	 	68	%	 	68	%	 	68	%	 	68	%	 	68	%	 	68	%	 	68	%	 	68	%	 	68	%	 	68	%	 	68	%
	 3 to 4
	 	67	%	 	67	%	 	68	%	 	68	%	 	68	%	 	68	%	 	68	%	 	68	%	 	68	%	 	68	%	 	68	%	 	68	%	 	68	%	 	68	%	 	68	%
	 5 to 6
	 	67	%	 	67	%	 	68	%	 	68	%	 	68	%	 	68	%	 	68	%	 	68	%	 	68	%	 	68	%	 	68	%	 	68	%	 	68	%	 	68	%	 	68	%
	 7 to 8
	 	67	%	 	67	%	 	68	%	 	68	%	 	68	%	 	68	%	 	68	%	 	68	%	 	68	%	 	68	%	 	68	%	 	68	%	 	68	%	 	68	%	 	68	%
	 9 to 10
	 	68	%	 	68	%	 	68	%	 	69	%	 	69	%	 	70	%	 	72	%	 	72	%	 	73	%	 	74	%	 	76	%	 	78	%	 	78	%	 	80	%	 	80	%
	 11 to 12
	 	68	%	 	68	%	 	69	%	 	71	%	 	72	%	 	72	%	 	73	%	 	74	%	 	76	%	 	77	%	 	78	%	 	79	%	 	80	%	 	81	%	 	81	%
	 13 to 14
	 	70	%	 	70	%	 	71	%	 	72	%	 	73	%	 	74	%	 	75	%	 	76	%	 	77	%	 	78	%	 	79	%	 	80	%	 	81	%	 	82	%	 	82	%
	 15 to 16
	 	71	%	 	71	%	 	72	%	 	73	%	 	74	%	 	75	%	 	76	%	 	77	%	 	78	%	 	79	%	 	80	%	 	81	%	 	82	%	 	82	%	 	82	%
	 17 to 18
	 	72	%	 	72	%	 	73	%	 	74	%	 	75	%	 	76	%	 	77	%	 	78	%	 	79	%	 	80	%	 	81	%	 	82	%	 	82	%	 	83	%	 	83	%
	 19 to 20
	 	73	%	 	73	%	 	74	%	 	75	%	 	76	%	 	77	%	 	78	%	 	79	%	 	80	%	 	80	%	 	81	%	 	82	%	 	83	%	 	84	%	 	84	%
	 21 to 22
	 	74	%	 	74	%	 	75	%	 	76	%	 	77	%	 	78	%	 	79	%	 	79	%	 	80	%	 	81	%	 	82	%	 	83	%	 	83	%	 	84	%	 	84	%
	 23 to 24
	 	74	%	 	74	%	 	75	%	 	76	%	 	77	%	 	78	%	 	79	%	 	80	%	 	81	%	 	81	%	 	82	%	 	83	%	 	84	%	 	84	%	 	84	%
	 25 to 26
	 	75	%	 	75	%	 	76	%	 	77	%	 	78	%	 	79	%	 	79	%	 	80	%	 	81	%	 	81	%	 	82	%	 	83	%	 	84	%	 	85	%	 	85	%
	 27 to 28
	 	76	%	 	76	%	 	77	%	 	78	%	 	79	%	 	79	%	 	80	%	 	80	%	 	82	%	 	82	%	 	83	%	 	83	%	 	84	%	 	85	%	 	85	%
	 29 to 30
	 	76	%	 	76	%	 	77	%	 	78	%	 	79	%	 	79	%	 	80	%	 	81	%	 	82	%	 	82	%	 	83	%	 	84	%	 	84	%	 	85	%	 	85	%
	 31 to 32
	 	76	%	 	76	%	 	77	%	 	78	%	 	79	%	 	80	%	 	80	%	 	81	%	 	82	%	 	82	%	 	83	%	 	84	%	 	85	%	 	85	%	 	85	%
	 33 to 34
	 	77	%	 	77	%	 	78	%	 	78	%	 	79	%	 	80	%	 	81	%	 	81	%	 	82	%	 	82	%	 	83	%	 	84	%	 	85	%	 	85	%	 	85	%
	 35 to 36
	 	77	%	 	77	%	 	78	%	 	79	%	 	79	%	 	80	%	 	81	%	 	81	%	 	82	%	 	82	%	 	83	%	 	84	%	 	85	%	 	86	%	 	86	%
	 37 to 38
	 	77	%	 	77	%	 	78	%	 	79	%	 	80	%	 	80	%	 	81	%	 	82	%	 	82	%	 	83	%	 	84	%	 	85	%	 	85	%	 	86	%	 	86	%
	 39 to 40
	 	78	%	 	78	%	 	78	%	 	79	%	 	80	%	 	80	%	 	81	%	 	82	%	 	83	%	 	83	%	 	84	%	 	85	%	 	85	%	 	87	%	 	87	%
	 > 40
	 	78	%	 	78	%	 	78	%	 	79	%	 	80	%	 	80	%	 	81	%	 	82	%	 	83	%	 	83	%	 	84	%	 	85	%	 	85	%	 	87	%	 	87	%

 Amendment No. 2 to Amended and Restated SSA 

 Weighted Average Spread: 4.00% 
 Weighted Average Rating Factor (WARF) 
  

																																														
	 	 	3750 to
3625	 	 	3624 to
3499	 	 	3500 to
3375	 	 	3374 to
3250	 	 	3249 to
3125	 	 	3124 to
3000	 	 	2999 to
2875	 	 	 2874 to
 2750
	 	 	2749 to
2625	 	 	2624 to
2500	 	 	2499 to
2375	 	 	2374 to
2250	 	 	2249 to
2125	 	 	2124 to
2000	 	 	< 2000	 
	 1 to 2
	 	68	%	 	68	%	 	69	%	 	69	%	 	69	%	 	69	%	 	69	%	 	69	%	 	69	%	 	69	%	 	69	%	 	69	%	 	69	%	 	69	%	 	69	%
	 3 to 4
	 	68	%	 	68	%	 	69	%	 	69	%	 	69	%	 	69	%	 	69	%	 	69	%	 	69	%	 	69	%	 	69	%	 	69	%	 	69	%	 	69	%	 	69	%
	 5 to 6
	 	68	%	 	68	%	 	69	%	 	69	%	 	69	%	 	69	%	 	69	%	 	69	%	 	69	%	 	69	%	 	69	%	 	69	%	 	69	%	 	69	%	 	69	%
	 7 to 8
	 	68	%	 	68	%	 	69	%	 	69	%	 	69	%	 	69	%	 	69	%	 	69	%	 	69	%	 	69	%	 	69	%	 	69	%	 	69	%	 	69	%	 	69	%
	 9 to 10
	 	69	%	 	69	%	 	69	%	 	70	%	 	70	%	 	71	%	 	73	%	 	73	%	 	74	%	 	75	%	 	77	%	 	79	%	 	79	%	 	81	%	 	81	%
	 11 to 12
	 	69	%	 	69	%	 	70	%	 	72	%	 	73	%	 	73	%	 	74	%	 	75	%	 	77	%	 	78	%	 	79	%	 	80	%	 	81	%	 	82	%	 	82	%
	 13 to 14
	 	71	%	 	71	%	 	72	%	 	73	%	 	74	%	 	75	%	 	76	%	 	77	%	 	78	%	 	79	%	 	80	%	 	81	%	 	82	%	 	83	%	 	83	%
	 15 to 16
	 	72	%	 	72	%	 	73	%	 	74	%	 	75	%	 	76	%	 	77	%	 	78	%	 	79	%	 	80	%	 	81	%	 	82	%	 	83	%	 	83	%	 	83	%
	 17 to 18
	 	73	%	 	73	%	 	74	%	 	75	%	 	76	%	 	77	%	 	78	%	 	79	%	 	80	%	 	81	%	 	82	%	 	83	%	 	83	%	 	84	%	 	84	%
	 19 to 20
	 	74	%	 	74	%	 	75	%	 	76	%	 	77	%	 	78	%	 	79	%	 	80	%	 	81	%	 	81	%	 	82	%	 	83	%	 	84	%	 	85	%	 	85	%
	 21 to 22
	 	75	%	 	75	%	 	76	%	 	77	%	 	78	%	 	79	%	 	80	%	 	80	%	 	81	%	 	82	%	 	83	%	 	84	%	 	84	%	 	85	%	 	85	%
	 23 to 24
	 	75	%	 	75	%	 	76	%	 	77	%	 	78	%	 	79	%	 	80	%	 	81	%	 	82	%	 	82	%	 	83	%	 	84	%	 	85	%	 	85	%	 	85	%
	 25 to 26
	 	76	%	 	76	%	 	77	%	 	78	%	 	79	%	 	80	%	 	80	%	 	81	%	 	82	%	 	82	%	 	83	%	 	84	%	 	85	%	 	86	%	 	86	%
	 27 to 28
	 	77	%	 	77	%	 	78	%	 	79	%	 	80	%	 	80	%	 	81	%	 	81	%	 	83	%	 	83	%	 	84	%	 	84	%	 	85	%	 	86	%	 	86	%
	 29 to 30
	 	77	%	 	77	%	 	78	%	 	79	%	 	80	%	 	80	%	 	81	%	 	82	%	 	83	%	 	83	%	 	84	%	 	85	%	 	85	%	 	86	%	 	86	%
	 31 to 32
	 	77	%	 	77	%	 	78	%	 	79	%	 	80	%	 	81	%	 	81	%	 	82	%	 	83	%	 	83	%	 	84	%	 	85	%	 	86	%	 	86	%	 	86	%
	 33 to 34
	 	78	%	 	78	%	 	79	%	 	79	%	 	80	%	 	81	%	 	82	%	 	82	%	 	83	%	 	83	%	 	84	%	 	85	%	 	86	%	 	86	%	 	86	%
	 35 to 36
	 	78	%	 	78	%	 	79	%	 	80	%	 	80	%	 	81	%	 	82	%	 	82	%	 	83	%	 	83	%	 	84	%	 	85	%	 	86	%	 	87	%	 	87	%
	 37 to 38
	 	78	%	 	78	%	 	79	%	 	80	%	 	81	%	 	81	%	 	82	%	 	83	%	 	83	%	 	84	%	 	85	%	 	86	%	 	86	%	 	87	%	 	87	%
	 39 to 40
	 	79	%	 	79	%	 	79	%	 	80	%	 	81	%	 	81	%	 	82	%	 	83	%	 	84	%	 	84	%	 	85	%	 	86	%	 	86	%	 	88	%	 	88	%
	 > 40
	 	79	%	 	79	%	 	79	%	 	80	%	 	81	%	 	81	%	 	82	%	 	83	%	 	84	%	 	84	%	 	85	%	 	86	%	 	86	%	 	88	%	 	88	%

 Amendment No. 2 to Amended and Restated SSA 

 Weighted Average Spread: 4.25% 
 Weighted Average Rating Factor (WARF) 
  

																																														
	 	 	3750 to
3625	 	 	3624 to
3499	 	 	3500 to
3375	 	 	3374 to
3250	 	 	3249 to
3125	 	 	3124 to
3000	 	 	2999 to
2875	 	 	2874 to
2750	 	 	2749 to
2625	 	 	2624 to
2500	 	 	2499 to
2375	 	 	2374 to
2250	 	 	2249 to
2125	 	 	2124 to
2000	 	 	< 2000	 
	 1 to 2
	 	69	%	 	69	%	 	70	%	 	70	%	 	70	%	 	70	%	 	70	%	 	70	%	 	70	%	 	70	%	 	70	%	 	70	%	 	70	%	 	70	%	 	70	%
	 3 to 4
	 	69	%	 	69	%	 	70	%	 	70	%	 	70	%	 	70	%	 	70	%	 	70	%	 	70	%	 	70	%	 	70	%	 	70	%	 	70	%	 	70	%	 	70	%
	 5 to 6
	 	69	%	 	69	%	 	70	%	 	70	%	 	70	%	 	70	%	 	70	%	 	70	%	 	70	%	 	70	%	 	70	%	 	70	%	 	70	%	 	70	%	 	70	%
	 7 to 8
	 	69	%	 	69	%	 	70	%	 	70	%	 	70	%	 	70	%	 	70	%	 	70	%	 	70	%	 	70	%	 	70	%	 	70	%	 	70	%	 	70	%	 	70	%
	 9 to 10
	 	70	%	 	70	%	 	70	%	 	71	%	 	71	%	 	72	%	 	74	%	 	74	%	 	75	%	 	76	%	 	78	%	 	80	%	 	80	%	 	82	%	 	82	%
	 11 to 12
	 	70	%	 	70	%	 	71	%	 	73	%	 	74	%	 	74	%	 	75	%	 	76	%	 	78	%	 	79	%	 	80	%	 	81	%	 	82	%	 	83	%	 	83	%
	 13 to 14
	 	72	%	 	72	%	 	73	%	 	74	%	 	75	%	 	76	%	 	77	%	 	78	%	 	79	%	 	80	%	 	81	%	 	82	%	 	83	%	 	84	%	 	84	%
	 15 to 16
	 	73	%	 	73	%	 	74	%	 	75	%	 	76	%	 	77	%	 	78	%	 	79	%	 	80	%	 	81	%	 	82	%	 	83	%	 	84	%	 	84	%	 	84	%
	 17 to 18
	 	74	%	 	74	%	 	75	%	 	76	%	 	77	%	 	78	%	 	79	%	 	80	%	 	81	%	 	82	%	 	83	%	 	84	%	 	84	%	 	85	%	 	85	%
	 19 to 20
	 	75	%	 	75	%	 	76	%	 	77	%	 	78	%	 	79	%	 	80	%	 	81	%	 	82	%	 	82	%	 	83	%	 	84	%	 	85	%	 	86	%	 	86	%
	 21 to 22
	 	76	%	 	76	%	 	77	%	 	78	%	 	79	%	 	80	%	 	81	%	 	81	%	 	82	%	 	83	%	 	84	%	 	85	%	 	85	%	 	86	%	 	86	%
	 23 to 24
	 	76	%	 	76	%	 	77	%	 	78	%	 	79	%	 	80	%	 	81	%	 	82	%	 	83	%	 	83	%	 	84	%	 	85	%	 	86	%	 	86	%	 	86	%
	 25 to 26
	 	77	%	 	77	%	 	78	%	 	79	%	 	80	%	 	81	%	 	81	%	 	82	%	 	83	%	 	83	%	 	84	%	 	85	%	 	86	%	 	87	%	 	87	%
	 27 to 28
	 	78	%	 	78	%	 	79	%	 	80	%	 	81	%	 	81	%	 	82	%	 	82	%	 	84	%	 	84	%	 	85	%	 	85	%	 	86	%	 	87	%	 	87	%
	 29 to 30
	 	78	%	 	78	%	 	79	%	 	80	%	 	81	%	 	81	%	 	82	%	 	83	%	 	84	%	 	84	%	 	85	%	 	86	%	 	86	%	 	87	%	 	87	%
	 31 to 32
	 	78	%	 	78	%	 	79	%	 	80	%	 	81	%	 	82	%	 	82	%	 	83	%	 	84	%	 	84	%	 	85	%	 	86	%	 	87	%	 	87	%	 	87	%
	 33 to 34
	 	79	%	 	79	%	 	80	%	 	80	%	 	81	%	 	82	%	 	83	%	 	83	%	 	84	%	 	84	%	 	85	%	 	86	%	 	87	%	 	87	%	 	87	%
	 35 to 36
	 	79	%	 	79	%	 	80	%	 	81	%	 	81	%	 	82	%	 	83	%	 	83	%	 	84	%	 	84	%	 	85	%	 	86	%	 	87	%	 	88	%	 	88	%
	 37 to 38
	 	79	%	 	79	%	 	80	%	 	81	%	 	82	%	 	82	%	 	83	%	 	84	%	 	84	%	 	85	%	 	86	%	 	87	%	 	87	%	 	88	%	 	88	%
	 39 to 40
	 	80	%	 	80	%	 	80	%	 	81	%	 	82	%	 	82	%	 	83	%	 	84	%	 	85	%	 	85	%	 	86	%	 	87	%	 	87	%	 	89	%	 	89	%
	 > 40
	 	80	%	 	80	%	 	80	%	 	81	%	 	82	%	 	82	%	 	83	%	 	84	%	 	85	%	 	85	%	 	86	%	 	87	%	 	87	%	 	89	%	 	89	%

 Amendment No. 2 to Amended and Restated SSA 

 Weighted Average Spread: 4.50% 
 Weighted Average Rating Factor (WARF) 
  

																																														
	 	 	3750 to
3625	 	 	3624 to
3499	 	 	3500 to
3375	 	 	3374 to
3250	 	 	3249 to
3125	 	 	3124 to
3000	 	 	2999 to
2875	 	 	2874 to
2750	 	 	2749 to
2625	 	 	2624 to
2500	 	 	2499 to
2375	 	 	2374 to
2250	 	 	2249 to
2125	 	 	2124 to
2000	 	 	< 2000	 
	 1 to 2
	 	70	%	 	70	%	 	71	%	 	71	%	 	71	%	 	71	%	 	71	%	 	71	%	 	71	%	 	71	%	 	71	%	 	71	%	 	71	%	 	71	%	 	71	%
	 3 to 4
	 	70	%	 	70	%	 	71	%	 	71	%	 	71	%	 	71	%	 	71	%	 	71	%	 	71	%	 	71	%	 	71	%	 	71	%	 	71	%	 	71	%	 	71	%
	 5 to 6
	 	70	%	 	70	%	 	71	%	 	71	%	 	71	%	 	71	%	 	71	%	 	71	%	 	71	%	 	71	%	 	71	%	 	71	%	 	71	%	 	71	%	 	71	%
	 7 to 8
	 	70	%	 	70	%	 	71	%	 	71	%	 	71	%	 	71	%	 	71	%	 	71	%	 	71	%	 	71	%	 	71	%	 	71	%	 	71	%	 	71	%	 	71	%
	 9 to 10
	 	71	%	 	71	%	 	71	%	 	72	%	 	72	%	 	73	%	 	75	%	 	75	%	 	76	%	 	77	%	 	79	%	 	81	%	 	81	%	 	83	%	 	83	%
	 11 to 12
	 	71	%	 	71	%	 	72	%	 	74	%	 	75	%	 	75	%	 	76	%	 	77	%	 	79	%	 	80	%	 	81	%	 	82	%	 	83	%	 	84	%	 	84	%
	 13 to 14
	 	73	%	 	73	%	 	74	%	 	75	%	 	76	%	 	77	%	 	78	%	 	79	%	 	80	%	 	81	%	 	82	%	 	83	%	 	84	%	 	85	%	 	85	%
	 15 to 16
	 	74	%	 	74	%	 	75	%	 	76	%	 	77	%	 	78	%	 	79	%	 	80	%	 	81	%	 	82	%	 	83	%	 	84	%	 	85	%	 	85	%	 	85	%
	 17 to 18
	 	75	%	 	75	%	 	76	%	 	77	%	 	78	%	 	79	%	 	80	%	 	81	%	 	82	%	 	83	%	 	84	%	 	85	%	 	85	%	 	86	%	 	86	%
	 19 to 20
	 	76	%	 	76	%	 	77	%	 	78	%	 	79	%	 	80	%	 	81	%	 	82	%	 	83	%	 	83	%	 	84	%	 	85	%	 	86	%	 	87	%	 	87	%
	 21 to 22
	 	77	%	 	77	%	 	78	%	 	79	%	 	80	%	 	81	%	 	82	%	 	82	%	 	83	%	 	84	%	 	85	%	 	86	%	 	86	%	 	87	%	 	87	%
	 23 to 24
	 	77	%	 	77	%	 	78	%	 	79	%	 	80	%	 	81	%	 	82	%	 	83	%	 	84	%	 	84	%	 	85	%	 	86	%	 	87	%	 	87	%	 	87	%
	 25 to 26
	 	78	%	 	78	%	 	79	%	 	80	%	 	81	%	 	82	%	 	82	%	 	83	%	 	84	%	 	84	%	 	85	%	 	86	%	 	87	%	 	88	%	 	88	%
	 27 to 28
	 	79	%	 	79	%	 	80	%	 	81	%	 	82	%	 	82	%	 	83	%	 	83	%	 	85	%	 	85	%	 	86	%	 	86	%	 	87	%	 	88	%	 	88	%
	 29 to 30
	 	79	%	 	79	%	 	80	%	 	81	%	 	82	%	 	82	%	 	83	%	 	84	%	 	85	%	 	85	%	 	86	%	 	87	%	 	87	%	 	88	%	 	88	%
	 31 to 32
	 	79	%	 	79	%	 	80	%	 	81	%	 	82	%	 	83	%	 	83	%	 	84	%	 	85	%	 	85	%	 	86	%	 	87	%	 	88	%	 	88	%	 	88	%
	 33 to 34
	 	80	%	 	80	%	 	81	%	 	81	%	 	82	%	 	83	%	 	84	%	 	84	%	 	85	%	 	85	%	 	86	%	 	87	%	 	88	%	 	88	%	 	88	%
	 35 to 36
	 	80	%	 	80	%	 	81	%	 	82	%	 	82	%	 	83	%	 	84	%	 	84	%	 	85	%	 	85	%	 	86	%	 	87	%	 	88	%	 	89	%	 	89	%
	 37 to 38
	 	80	%	 	80	%	 	81	%	 	82	%	 	83	%	 	83	%	 	84	%	 	85	%	 	85	%	 	86	%	 	87	%	 	88	%	 	88	%	 	89	%	 	89	%
	 39 to 40
	 	81	%	 	81	%	 	81	%	 	82	%	 	83	%	 	83	%	 	84	%	 	85	%	 	86	%	 	86	%	 	87	%	 	88	%	 	88	%	 	90	%	 	90	%
	 > 40
	 	81	%	 	81	%	 	81	%	 	82	%	 	83	%	 	83	%	 	84	%	 	85	%	 	86	%	 	86	%	 	87	%	 	88	%	 	88	%	 	90	%	 	90	%

 Amendment No. 2 to Amended and Restated SSA 

 Weighted Average Spread: 4.75% 
 Weighted Average Rating Factor (WARF) 
  

																																														
	 	 	3750 to
3625	 	 	3624 to
3499	 	 	 3500 to
 3375
	 	 	3374 to
3250	 	 	3249 to
3125	 	 	3124 to
3000	 	 	2999 to
2875	 	 	2874 to
2750	 	 	2749 to
2625	 	 	2624 to
2500	 	 	2499 to
2375	 	 	2374 to
2250	 	 	2249 to
2125	 	 	2124 to
2000	 	 	< 2000	 
	 1 to 2
	 	71	%	 	71	%	 	72	%	 	72	%	 	72	%	 	72	%	 	72	%	 	72	%	 	72	%	 	72	%	 	72	%	 	72	%	 	72	%	 	72	%	 	72	%
	 3 to 4
	 	71	%	 	71	%	 	72	%	 	72	%	 	72	%	 	72	%	 	72	%	 	72	%	 	72	%	 	72	%	 	72	%	 	72	%	 	72	%	 	72	%	 	72	%
	 5 to 6
	 	71	%	 	71	%	 	72	%	 	72	%	 	72	%	 	72	%	 	72	%	 	72	%	 	72	%	 	72	%	 	72	%	 	72	%	 	72	%	 	72	%	 	72	%
	 7 to 8
	 	71	%	 	71	%	 	72	%	 	72	%	 	72	%	 	72	%	 	72	%	 	72	%	 	72	%	 	72	%	 	72	%	 	72	%	 	72	%	 	72	%	 	72	%
	 9 to 10
	 	72	%	 	72	%	 	72	%	 	73	%	 	73	%	 	74	%	 	76	%	 	76	%	 	77	%	 	78	%	 	80	%	 	82	%	 	82	%	 	84	%	 	84	%
	 11 to 12
	 	72	%	 	72	%	 	73	%	 	75	%	 	76	%	 	76	%	 	77	%	 	78	%	 	80	%	 	81	%	 	82	%	 	83	%	 	84	%	 	85	%	 	85	%
	 13 to 14
	 	74	%	 	74	%	 	75	%	 	76	%	 	77	%	 	78	%	 	79	%	 	80	%	 	81	%	 	82	%	 	83	%	 	84	%	 	85	%	 	86	%	 	86	%
	 15 to 16
	 	75	%	 	75	%	 	76	%	 	77	%	 	78	%	 	79	%	 	80	%	 	81	%	 	82	%	 	83	%	 	84	%	 	85	%	 	86	%	 	86	%	 	86	%
	 17 to 18
	 	76	%	 	76	%	 	77	%	 	78	%	 	79	%	 	80	%	 	81	%	 	82	%	 	83	%	 	84	%	 	85	%	 	86	%	 	86	%	 	87	%	 	87	%
	 19 to 20
	 	77	%	 	77	%	 	78	%	 	79	%	 	80	%	 	81	%	 	82	%	 	83	%	 	84	%	 	84	%	 	85	%	 	86	%	 	87	%	 	88	%	 	88	%
	 21 to 22
	 	78	%	 	78	%	 	79	%	 	80	%	 	81	%	 	82	%	 	83	%	 	83	%	 	84	%	 	85	%	 	86	%	 	87	%	 	87	%	 	88	%	 	88	%
	 23 to 24
	 	78	%	 	78	%	 	79	%	 	80	%	 	81	%	 	82	%	 	83	%	 	84	%	 	85	%	 	85	%	 	86	%	 	87	%	 	88	%	 	88	%	 	88	%
	 25 to 26
	 	79	%	 	79	%	 	80	%	 	81	%	 	82	%	 	83	%	 	83	%	 	84	%	 	85	%	 	85	%	 	86	%	 	87	%	 	88	%	 	89	%	 	89	%
	 27 to 28
	 	80	%	 	80	%	 	81	%	 	82	%	 	83	%	 	83	%	 	84	%	 	84	%	 	86	%	 	86	%	 	87	%	 	87	%	 	88	%	 	89	%	 	89	%
	 29 to 30
	 	80	%	 	80	%	 	81	%	 	82	%	 	83	%	 	83	%	 	84	%	 	85	%	 	86	%	 	86	%	 	87	%	 	88	%	 	88	%	 	89	%	 	89	%
	 31 to 32
	 	80	%	 	80	%	 	81	%	 	82	%	 	83	%	 	84	%	 	84	%	 	85	%	 	86	%	 	86	%	 	87	%	 	88	%	 	89	%	 	89	%	 	89	%
	 33 to 34
	 	81	%	 	81	%	 	82	%	 	82	%	 	83	%	 	84	%	 	85	%	 	85	%	 	86	%	 	86	%	 	87	%	 	88	%	 	89	%	 	89	%	 	89	%
	 35 to 36
	 	81	%	 	81	%	 	82	%	 	83	%	 	83	%	 	84	%	 	85	%	 	85	%	 	86	%	 	86	%	 	87	%	 	88	%	 	89	%	 	90	%	 	90	%
	 37 to 38
	 	81	%	 	81	%	 	82	%	 	83	%	 	84	%	 	84	%	 	85	%	 	86	%	 	86	%	 	87	%	 	88	%	 	89	%	 	89	%	 	90	%	 	90	%
	 39 to 40
	 	82	%	 	82	%	 	82	%	 	83	%	 	84	%	 	84	%	 	85	%	 	86	%	 	87	%	 	87	%	 	88	%	 	89	%	 	89	%	 	91	%	 	91	%
	 > 40
	 	82	%	 	82	%	 	82	%	 	83	%	 	84	%	 	84	%	 	85	%	 	86	%	 	87	%	 	87	%	 	88	%	 	89	%	 	89	%	 	91	%	 	91	%

 Amendment No. 2 to Amended and Restated SSA 

 Weighted Average Spread: 5.00% 
 Weighted Average Rating Factor (WARF) 
  

																																														
	 	 	3750 to
3625	 	 	3624 to
3499	 	 	3500 to
3375	 	 	3374 to
3250	 	 	3249 to
3125	 	 	3124 to
3000	 	 	2999 to
2875	 	 	2874 to
2750	 	 	2749 to
2625	 	 	2624 to
2500	 	 	2499 to
2375	 	 	2374 to
2250	 	 	2249 to
2125	 	 	2124 to
2000	 	 	<
2000	 
	 1 to 2
	 	72	%	 	72	%	 	73	%	 	73	%	 	73	%	 	73	%	 	73	%	 	73	%	 	73	%	 	73	%	 	73	%	 	73	%	 	73	%	 	73	%	 	73	%
	 3 to 4
	 	72	%	 	72	%	 	73	%	 	73	%	 	73	%	 	73	%	 	73	%	 	73	%	 	73	%	 	73	%	 	73	%	 	73	%	 	73	%	 	73	%	 	73	%
	 5 to 6
	 	72	%	 	72	%	 	73	%	 	73	%	 	73	%	 	73	%	 	73	%	 	73	%	 	73	%	 	73	%	 	73	%	 	73	%	 	73	%	 	73	%	 	73	%
	 7 to 8
	 	72	%	 	72	%	 	73	%	 	73	%	 	73	%	 	73	%	 	73	%	 	73	%	 	73	%	 	73	%	 	73	%	 	73	%	 	73	%	 	73	%	 	73	%
	 9 to 10
	 	73	%	 	73	%	 	73	%	 	74	%	 	74	%	 	75	%	 	77	%	 	77	%	 	78	%	 	79	%	 	81	%	 	83	%	 	83	%	 	85	%	 	85	%
	 11 to 12
	 	73	%	 	73	%	 	74	%	 	76	%	 	77	%	 	77	%	 	78	%	 	79	%	 	81	%	 	82	%	 	83	%	 	84	%	 	85	%	 	86	%	 	86	%
	 13 to 14
	 	75	%	 	75	%	 	76	%	 	77	%	 	78	%	 	79	%	 	80	%	 	81	%	 	82	%	 	83	%	 	84	%	 	85	%	 	86	%	 	87	%	 	87	%
	 15 to 16
	 	76	%	 	76	%	 	77	%	 	78	%	 	79	%	 	80	%	 	81	%	 	82	%	 	83	%	 	84	%	 	85	%	 	86	%	 	87	%	 	87	%	 	87	%
	 17 to 18
	 	77	%	 	77	%	 	78	%	 	79	%	 	80	%	 	81	%	 	82	%	 	83	%	 	84	%	 	85	%	 	86	%	 	87	%	 	87	%	 	88	%	 	88	%
	 19 to 20
	 	78	%	 	78	%	 	79	%	 	80	%	 	81	%	 	82	%	 	83	%	 	84	%	 	85	%	 	85	%	 	86	%	 	87	%	 	88	%	 	89	%	 	89	%
	 21 to 22
	 	79	%	 	79	%	 	80	%	 	81	%	 	82	%	 	83	%	 	84	%	 	84	%	 	85	%	 	86	%	 	87	%	 	88	%	 	88	%	 	89	%	 	89	%
	 23 to 24
	 	79	%	 	79	%	 	80	%	 	81	%	 	82	%	 	83	%	 	84	%	 	85	%	 	86	%	 	86	%	 	87	%	 	88	%	 	89	%	 	89	%	 	89	%
	 25 to 26
	 	80	%	 	80	%	 	81	%	 	82	%	 	83	%	 	84	%	 	84	%	 	85	%	 	86	%	 	86	%	 	87	%	 	88	%	 	89	%	 	90	%	 	90	%
	 27 to 28
	 	81	%	 	81	%	 	82	%	 	83	%	 	84	%	 	84	%	 	85	%	 	85	%	 	87	%	 	87	%	 	88	%	 	88	%	 	89	%	 	90	%	 	90	%
	 29 to 30
	 	81	%	 	81	%	 	82	%	 	83	%	 	84	%	 	84	%	 	85	%	 	86	%	 	87	%	 	87	%	 	88	%	 	89	%	 	89	%	 	90	%	 	90	%
	 31 to 32
	 	81	%	 	81	%	 	82	%	 	83	%	 	84	%	 	85	%	 	85	%	 	86	%	 	87	%	 	87	%	 	88	%	 	89	%	 	90	%	 	90	%	 	90	%
	 33 to 34
	 	82	%	 	82	%	 	83	%	 	83	%	 	84	%	 	85	%	 	86	%	 	86	%	 	87	%	 	87	%	 	88	%	 	89	%	 	90	%	 	90	%	 	90	%
	 35 to 36
	 	82	%	 	82	%	 	83	%	 	84	%	 	84	%	 	85	%	 	86	%	 	86	%	 	87	%	 	87	%	 	88	%	 	89	%	 	90	%	 	91	%	 	91	%
	 37 to 38
	 	82	%	 	82	%	 	83	%	 	84	%	 	85	%	 	85	%	 	86	%	 	87	%	 	87	%	 	88	%	 	89	%	 	90	%	 	90	%	 	91	%	 	91	%
	 39 to 40
	 	83	%	 	83	%	 	83	%	 	84	%	 	85	%	 	85	%	 	86	%	 	87	%	 	88	%	 	88	%	 	89	%	 	90	%	 	90	%	 	92	%	 	92	%
	 > 40
	 	83	%	 	83	%	 	83	%	 	84	%	 	85	%	 	85	%	 	86	%	 	87	%	 	88	%	 	88	%	 	89	%	 	90	%	 	90	%	 	92	%	 	92	%Amendment No. 3 to the Amended and Restated Sale and Servicing Agreement

 Exhibit 10.7.4 
 AMENDMENT NO. 3 TO THE AMENDED AND  
 RESTATED SALE AND SERVICING AGREEMENT 

 THIS AMENDMENT NO. 3 TO THE AMENDED AND RESTATED SALE AND SERVICING AGREEMENT, dated as of August 9, 2006 (this
“Amendment”), is entered into in connection with that certain Amended and Restated Sale and Servicing Agreement, dated as of April 5, 2006 (such agreement as amended, modified, supplemented, waived or restated from time to time, the
“Agreement”), by and among NEWSTAR CP FUNDING LLC, a Delaware limited liability company, as the seller (together with its successors and assigns in such capacity, the “Seller”), NEWSTAR FINANCIAL INC., a Delaware
corporation (together with its successors and assigns, the “Company”), as the originator (together with its successors and assigns in such capacity, the “Originator”), and as the servicer (together with its
successors and assigns in such capacity, the “Servicer”), WACHOVIA BANK, NATIONAL ASSOCIATION, a national banking association (together with its successors and assigns, “Wachovia”), as the swingline purchaser
(together with its successors and assigns in such capacity, the “Swingline Purchaser”), certain conduit purchasers and purchaser agents party thereto (each, together with its successors and assigns in such capacity, a
“Conduit Purchaser” and a “Purchaser” and, collectively with the Swingline Purchaser, the “Purchasers”), WACHOVIA CAPITAL MARKETS, LLC, a Delaware limited liability company (together with its
successors and assigns, “WCM”), as the administrative agent (together with its successors and assigns in such capacity, the “Administrative Agent”), and as the Purchaser Agent with respect to Variable Funding
Capital Company LLC as Conduit Purchaser (together with its successors and assigns in such capacity, the “VFCC Agent”), U.S. BANK NATIONAL ASSOCIATION, a national banking association (together with its successors and assigns,
“US Bank”), not in its individual capacity but as the trustee (together with its successors and assigns in such capacity, the “Trustee”), and LYON FINANCIAL SERVICES, INC., a Minnesota corporation, doing business as
U.S. Bank Portfolio Services, not in its individual capacity but as the backup servicer (together with its successors and assigns in such capacity, the “Backup Servicer”). Capitalized terms used and not otherwise defined herein are
used as defined in the Agreement. 
 R E C I T A L S 
 WHEREAS, the parties hereto previously entered into the Agreement; 
 WHEREAS, the parties hereto desire to (i) extend the Termination Date pursuant to Section 2.1(d) of the Agreement and (ii) amend the Agreement in certain respects as provided herein; 

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: 
  

 1 

 SECTION 1. Amendments. 
 (a) The definition “Concentration Limits” in Section 1.1 of the Agreement is hereby amended by deleting the words “for purposes of
determining the Borrowing Base” and inserting the words “for purposes of determining the Borrowing Base and the Swingline Borrowing Base” in their place. 
 (b) The definition “Concentration Limits” in Section 1.1 of the Agreement is hereby amended by amending and restating clause (d) thereof in its entirety as follows: 
 “(d) the sum of the Principal Balances of Eligible Assets that are Real Estate Loans to Obligors the primary Related Property with respect to which
Loan was underwritten is located in a single metropolitan statistical area shall not exceed the greater of $25,000,000 or 25% of the aggregate Principal Balance of all Eligible Assets that are Real Estate Loans;” 
 (c) The definition “Facility Termination Date” in Section 1.1 of the Agreement is hereby amended and restated in its entirety as follows:

 ““Facility Termination Date”: August 6, 2009, or such later date as the Administrative Agent and
each Purchaser Agent, in its sole discretion, shall notify the Seller of in writing.” 
 (d) Section 1.1 of the
Agreement is hereby amended by deleting in its entirety the definition “Swingline Amount”. 
 (e) The definition
“Termination Date” in Section 1.1 of the Agreement is hereby amended by amending and restating clause (c) thereof in its entirety as follows: 
 “(c) August 8, 2007, or such later date as such date may be extended pursuant to and in accordance with
Section 2.1(d),” 
 (f) Section 1.1 of the Agreement is hereby amended by adding the following
definitions in proper alphabetical order: 
 ““Swingline Availability”: At any time, the lesser of
(A) the Availability and (B) an amount equal to the excess, if any, of (i) the amount by which the lesser of (a) $25,000,000 and (b) the Swingline Maximum Availability over (ii) the Swingline Advances outstanding
on such day; provided, however, during the Amortization Period, the Swingline Availability shall be zero.” 
 ““Swingline Borrowing Base”: As of any Measurement Date, an amount equal to (i) the sum of the Principal Balances of all Eligible Assets other than Real Estate Loans after giving effect to
all such Assets added to and removed from the Collateral on such date, minus (ii) the applicable portion of the sum of the Principal Balances of Assets other than Real Estate Loans (without duplication) exceeding any Concentration Limit,
and minus  

  

 - 2 - 

 
(iii) the sum of the Principal Balances of any Delinquent Loans other than Delinquent Loans that are Real Estate Loans.” 
 ““Swingline Maximum Availability”: At any time, an amount equal to the sum of (i) the product of the Swingline Borrowing Base
and the Weighted Average Advance Rate, plus (ii) the amount on deposit in the Principal Collections Account received in reduction of the Principal Balance of any Asset; provided that during the Amortization Period, the Swingline
Maximum Availability shall be equal to the Swingline Advances outstanding.” 
 (g) Section 2.1(a) of the Agreement is hereby
amended by amending and restating the second sentence thereof in its entirety as follows: 
 “Each Variable Funding Certificate shall
evidence an undivided ownership interest (and the Seller does hereby sell, transfer, assign and convey each such Certificate representing an undivided ownership interest to the Purchasers) in the Collateral purchased by a Purchaser in an amount
equal, at any time, to the percentage equivalent of a fraction (i) the numerator of which is the Advances outstanding under the applicable VFC on such day, and (ii) the denominator of which is the total aggregate Advances Outstanding on
such day; provided; however, that the Swingline Purchaser may purchase, and hereby does purchase, only an ownership interest in the Collateral other than Real Estate Loans.” 
 (h) Section 2.2(c) of the Agreement is hereby amended by amending and restating the first sentence thereof in its entirety as follows: 

“Upon satisfaction of the applicable conditions set forth in Article III, on the related Funding Date of a Swingline Advance, the Swingline
Purchaser shall, subject to the limitations set forth in Section 2.1, deposit in the Holding Account an amount equal to the least of (x) the amount requested by the Seller for such Swingline Advance, (y) an amount equal to the
Swingline Availability and (z) $25,000,000 on such Funding Date.” 
 (i) Section 3.2(b)(iii) of the Agreement is hereby
amended by amending and restating the first sentence thereof in its entirety as follows: 
 “On and as of such day, after giving effect
to such Transaction, the Advances Outstanding shall not exceed the lesser of (x) the Facility Amount and (y) the Maximum Availability, and, if such Transaction involves a Swingline Advance, the aggregate amount of Swingline Advances
outstanding does not exceed the lesser of (i) $25,000,000 and (ii) the Swingline Maximum Availability;” 
 (j)
Section 9.1(a) of the Agreement is hereby amended by amending and restating the first sentence thereof in its entirety as follows: 
 “The Seller hereby Grants as of the Closing Date to the Trustee, (i) for the benefit of the Secured Parties (other than the Swingline Purchaser), a lien and continuing security interest in all of the Seller’s right, title and
interest in, to and under (but none of the 

  

 - 3 - 

 
obligations under) all Collateral (including any Hedging Agreements), and (ii) for the benefit of the Swingline Purchaser, a lien and continuing
security interest in all of the Seller’s right, title and interest in, to and under (but none of the obligations under) all Collateral other than Real Estate Loans (including any Hedging Agreements), in each case, whether now existing or
hereafter arising or acquired by the Seller, and wherever the same may be located, to secure the prompt, complete and indefeasible payment and performance in full when due, whether by lapse of time, acceleration or otherwise, of the Aggregate
Unpaids of the Seller arising in connection with this Agreement and each other Transaction Document, whether now or hereafter existing, due or to become due, direct or indirect, or absolute or contingent, including, without limitation, all Aggregate
Unpaids.” 
 (k) Exhibit A-1-S to the Agreement is hereby amended by amending and restating such exhibit in its entirety as set forth on
Schedule A hereto. 
 (l) Exhibit B-2 to the Agreement is hereby amended by amending and restating such exhibit in its entirety as set forth
on Schedule B hereto. 
 SECTION 2. Agreement in Full Force and Effect as Amended. 
 Except as specifically amended hereby, the Agreement shall remain in full force and effect. All references to the Agreement shall be deemed to mean the
Agreement as modified hereby. This Amendment shall not constitute a novation of the Agreement, but shall constitute an amendment thereof. The parties hereto agree to be bound by the terms and conditions of the Agreement, as amended by this
Amendment, as though such terms and conditions were set forth herein. 
 SECTION 3. Representations and Warranties. 

Each of the Originator, the Seller and the Servicer represents and warrants with respect to itself as of the date of this Amendment as follows:

 (a) it is duly incorporated or organized, validly existing and in good standing under the laws of its jurisdiction of incorporation or
organization; 
 (b) 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; 
 (c) 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;

 (d) this Amendment has been duly executed and delivered by it; 
  

 - 4 - 

 (e) 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;

 (f) it is not in default under the Agreement; and 
 (g) there is no Termination Event, Unmatured Termination Event, or Servicer Default. 
 SECTION 4.
Conditions Precedent. 
 The effectiveness of this Amendment is subject to (i) the due execution of this Amendment by each of
the parties hereto and (ii) the surrender and cancellation of the Amended, Restated and Substituted Variable Funding Certificate purchased by the Swingline Purchaser, dated August 10, 2005, in a face amount equal to $25,000,000 and the
delivery to the Swingline Purchaser of a duly executed and authenticated Amended, Restated and Substituted Variable Funding Certificate in a face amount equal to $25,000,000, substantially in the form of Exhibit B-2 to the Agreement, as amended by
this Amendment. 
 SECTION 5. Miscellaneous. 
 (a) This Amendment may be executed in any number of counterparts, 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. 
 (b) 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. 
 (c) This
Amendment may not be amended or otherwise modified except as provided in the Agreement. 
 (d) The failure or unenforceability of any
provision hereof shall not affect the other provisions of this Amendment. 
 (e) 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. 
 (f) 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. 
  

 - 5 - 

 (g) 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 WITHOUT REFERENCE TO ITS CONFLICT OF LAWS PROVISIONS. 
 [Remainder of Page Intentionally Left Blank] 
  

 - 6 - 

 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. 
  

									
	THE SELLER:	 		 	NEWSTAR CP FUNDING LLC
					
		 		 		 	 By:
	 	NewStar Financial, Inc., its Designated Manager
					
		 		 		 	 By:
	 	/S/    JOHN J. FRISHKOPF
		 		 		 		 	Name: John J. Frishkopf
		 		 		 		 	Title: Managing Director

  

									
	THE ORIGINATOR AND SERVICER:	 		 	NEWSTAR FINANCIAL, INC.
					
		 		 		 	 By:
	 	/S/    JOHN J. FRISHKOPF
		 		 		 		 	Name: John J. Frishkopf
		 		 		 		 	Title: Managing Director

  

									
	THE ADMINISTRATIVE AGENT AND THE VFCC AGENT:	 		 	WACHOVIA CAPITAL MARKETS, LLC
					
		 		 		 	 By:
	 	/S/    MICHAEL ROMANZO
		 		 		 		 	Name: Michael Romanzo, CFA
		 		 		 		 	Title: Vice President

  

									
	THE PURCHASER:	 		 	VARIABLE FUNDING CAPITAL COMPANY LLC
					
		 		 		 	 By:
	 	Wachovia Capital Markets, LLC, as attorney-in-fact
					
		 		 		 	 By:
	 	/S/    BRYAN P. MCGRATH
		 		 		 		 	Name: Bryan P. McGrath
		 		 		 		 	Title: Vice President

 [Signatures Continued on the Following Page] 
 Amendment No. 3 to Amended and Restated 
 Sale
and Servicing Agreement 

									
	THE SWINGLINE PURCHASER:	 		 	WACHOVIA BANK, NATIONAL ASSOCIATION
					
		 		 		 	 By:
	 	/S/    ANDY PHELPS
		 		 		 		 	Name: Andy Phelps
		 		 		 		 	Title: Vice President

  

									
	THE TRUSTEE:	 		 	U.S. BANK NATIONAL ASSOCIATION, not in its individual capacity but solely as Trustee
					
		 		 		 	 By:
	 	/S/    KYLE HARCART
		 		 		 		 	Name: Kyle Harcart
		 		 		 		 	Title: Vice President
			
	THE BACKUP SERVICER:	 		 	LYON FINANCIAL SERVICES, INC., d/b/a U.S. Bank Portfolio Services not in its individual capacity but solely as Backup Servicer
					
		 		 		 	 By:
	 	/S/    JOSEPH ANDRIES
		 		 		 		 	Name: Joseph Andries
		 		 		 		 	Title: Senior Vice President

 Acknowledged and Agreed to 
 as of the date first written above. 
  

			
	WACHOVIA BANK, NATIONAL ASSOCIATION, as the Hedge Counterparty
		
	By:	 	/S/    KIM V. FARR
		 	Name: Kim V. Farr
		 	Title: Director

 Amendment No. 3 to Amended and Restated 
 Sale and Servicing Agreement 

 Schedule A 
 EXHIBIT A-1-S 
 To Amended and Restated Sale and 
 Servicing Agreement 
 FORM OF BORROWING
NOTICE 
 (Swingline Funding Request) 
 [Date] 
 (NEWSTAR CP FUNDING LLC) 
 Wachovia Bank, National Association, as Swingline Purchaser 
 One Wachovia Center, Mail
Code: NC0600 
 Charlotte, North Carolina 28288-0600 

			
	 Facsimile No.:
	 	 (704) 715-0067
 (704) 715-0096
 (704) 383-6036

	 via e-mail:
	 	 cp.conduits@wachovia.com
 scp.mmloans@wachovia.com

  

	Re:	Amended and Restated Sale and Servicing Agreement dated as of April 5, 2006 

 Ladies and Gentlemen: 
 This Swingline
Funding Request is delivered to you pursuant to Sections 2.2 and 3.2 of that certain Amended and Restated Sale and Servicing Agreement, dated as of April 5, 2006 (as amended, modified, supplemented or restated from time to time,
the “Agreement”), by and among NewStar CP Funding LLC, as the seller (in such capacity, the “Seller”), NewStar Financial, Inc., as the originator (in such capacity, the
“Originator”) and as the servicer (in such capacity, the “Servicer”), Wachovia Bank, National Association, as the Swingline Purchaser, each of the Conduit Purchasers and Purchaser Agents from time to
time party thereto, Wachovia Capital Markets, LLC, as the Administrative Agent, U.S. Bank National Association, as the Trustee, and Lyon Financial Services, Inc. d/b/a US Bank Portfolio Services, as Backup Servicer. Capitalized terms used but not
defined herein shall have the meanings provided in the Agreement. 
 Each of the undersigned, being a duly elected Responsible Officer of the Seller and of
the Servicer, respectively, and holding the office set forth below such officer’s name, hereby certifies as follows: 
 1. The Borrower
hereby requests a Swingline Advance in the principal amount of $                        . 

 2. The proceeds of such Swingline Advance shall be deposited into the Holding Account. 
 3. The Borrower hereby requests that such Swingline Advance be made on the following date: _____________. 
 4. Attached to this Swingline Funding Request is a true, correct and complete calculation of each of the Borrowing Base and the Swingline Borrowing Base
and all components thereof. 
 5. Attached to this Swingline Funding Request is a true, correct and complete Asset List, reflecting all
Assets which are part of the Collateral on the date hereof and/or which will become part of the Collateral on the Purchase Date thereof, each Asset reflected thereon being an Eligible Asset. 
 6. All of the conditions applicable to the Swingline Advance requested herein as set forth in Article III of the Agreement have been satisfied as of the
date hereof and will remain satisfied to the date of such Swingline Advance, including those set forth in Section 3.2 of the Agreement. 
 7. As of the date of this Swingline Funding Request (and prior to giving effect thereto), (i) the amount of Advances Outstanding under the Agreement is $____________ and (ii) the amount of Swingline Advances outstanding under the
Agreement is $                        . 
 [The Remainder Of This Page Is Intentionally Left Blank] 

 IN WITNESS WHEREOF, the undersigned have executed this Borrowing Notice this ______ day of __________,
____. 
  

									
	 NEWSTAR CP FUNDING LLC,
 as the
Seller
	 		 	 NEWSTAR FINANCIAL, INC.
 as the Servicer

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

 [attach Borrowing Base Certificate and Asset List] 
  

 Schedule B 
 EXHIBIT B-2 
 To Amended and Restated Sale and 
 Servicing Agreement 
 FORM OF VARIABLE
FUNDING CERTIFICATE 
  

			
	 $_____________
	 	[                        ] [__],
2006        

 THIS VARIABLE FUNDING CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE
“SECURITIES ACT”). NEITHER THIS VARIABLE FUNDING CERTIFICATE NOR ANY PORTION HEREOF MAY BE OFFERED OR SOLD EXCEPT IN COMPLIANCE WITH THE REGISTRATION PROVISIONS OF THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM SUCH
REGISTRATION PROVISIONS. 
 THIS VARIABLE FUNDING CERTIFICATE IS NOT PERMITTED TO BE TRANSFERRED, ASSIGNED, EXCHANGED OR OTHERWISE PLEDGED OR
CONVEYED EXCEPT IN COMPLIANCE WITH THE TERMS OF THE SALE AND SERVICING AGREEMENT REFERRED TO HEREIN. 
 FOR VALUE RECEIVED, NEWSTAR CP
FUNDING LLC, a Delaware limited liability company (the “Seller”), promises to pay to WACHOVIA BANK, NATIONAL ASSOCIATION, (“Swingline Purchaser”), or its successors and assigns, the principal sum of
_________________________________________ ($___________), or, if less, the unpaid principal amount of the aggregate advances (“Swingline Advances”) made by the Swingline Purchaser to the Seller pursuant to the Sale and
Servicing Agreement (as defined below), as set forth on the attached Schedule, on the dates specified in the Sale and Servicing Agreement, and to pay interest on the unpaid principal amount of each Swingline Advance on each day that such unpaid
principal amount is outstanding, at the Interest Rate related to such Swingline Advance as provided in the Sale and Servicing Agreement, on each Payment Date and each other date specified in the Sale and Servicing Agreement. 
 This Variable Funding Certificate (the “Certificate”) is issued pursuant to the Amended and Restated Sale and Servicing
Agreement, dated as of April 5, 2006 (as amended, modified, supplemented or restated from time to time, the “Sale and Servicing Agreement”), by and among NewStar CP Funding LLC, as the seller (in such capacity, the
“Seller”), NewStar Financial, Inc., as the originator (in such capacity, the “Originator”) and as the servicer (in such capacity, the “Servicer”), Wachovia Bank, National
Association, as the Swingline Purchaser, each of the Conduit Purchasers and Purchaser Agents from time to time party thereto, Wachovia Capital Markets, LLC, as the Administrative Agent, U.S. Bank National Association, as the Trustee and 

 
Lyon Financial Services, Inc. d/b/a US Bank Portfolio Services, as Backup Servicer. Capitalized terms used herein shall have the meanings provided in the
Sale and Servicing Agreement. 
 Notwithstanding any other provisions contained in this Certificate, if at any time the rate of interest
payable by the Seller under this Certificate, when combined with any and all other charges provided for in this Certificate, in the Sale and Servicing Agreement or in any other document (to the extent such other charges would constitute interest for
the purpose of any applicable law limiting interest that may be charged on this Certificate), exceeds the highest rate of interest permissible under applicable law (the “Maximum Lawful Rate”), then so long as the Maximum
Lawful Rate would be exceeded, the rate of interest under this Certificate shall be equal to the Maximum Lawful Rate. If at any time thereafter the rate of interest payable under this Certificate is less than the Maximum Lawful Rate, the Seller
shall continue to pay interest under this Certificate at the Maximum Lawful Rate until such time as the total interest paid by the Seller is equal to the total interest that would have been paid had applicable law not limited the interest rate
payable under this Certificate. In no event shall the total interest received by the Swingline Purchaser under this Certificate exceed the amount which the Swingline Purchaser could lawfully have received had the interest due under this Certificate
been calculated since the date of this Certificate at the Maximum Lawful Rate. 
 Payments of the principal of, and interest on, Swingline
Advances represented by this Certificate shall be made by or on behalf of the Seller to the holder hereof by wire transfer of immediately available funds in the manner and at the address specified for such purpose as provided in the Sale and
Servicing Agreement, or in such manner or at such other address as the holder of this Certificate shall have specified in writing to the Seller for such purpose, without the presentation or surrender of this Certificate or the making of any notation
on this Certificate. 
 If any payment under this Certificate falls due on a day that is not a Business Day, then such due date shall be
extended to the next succeeding Business Day and interest shall be payable on any principal so extended at the applicable Interest Rate. 
 If all or a portion of (i) the principal amount hereof or (ii) any interest payable thereon or (iii) any other amounts payable hereunder shall not be paid when due (whether at maturity, by acceleration or otherwise), such
overdue amount shall bear interest at a rate per annum that is equal to the Base Rate plus 2%, in each case from the date of such non-payment to (but excluding) the date such amount is paid in full. 
 Portions or all of the principal amount of the Certificate shall become due and payable at the time or times set forth in the Sale and Servicing
Agreement. Any portion or all of the principal amount of this Certificate may be prepaid, together with interest thereon (and, as set forth in the Sale and Servicing Agreement, certain costs and expenses of the Swingline Purchaser) at the time and
in the manner set forth in, but subject to the provisions of, the Sale and Servicing Agreement. 

 Except as provided in the Sale and Servicing Agreement, the Seller expressly waives presentment, demand,
diligence, protest and all notices of any kind whatsoever with respect to this Certificate. 
 All amounts evidenced by this Certificate, the
Swingline Advances and all payments and prepayments of the principal hereof and the respective dates and maturity dates thereof shall be endorsed by the Administrative Agent, on the schedule attached hereto and made a part hereof or on a
continuation thereof, which shall be attached hereto and made a part hereof; provided, however, that the failure of the Administrative Agent to make such a notation shall not in any way limit or otherwise affect the obligations of the Seller under
this Certificate as provided in the Sale and Servicing Agreement. 
 The holder hereof may sell, assign, transfer, negotiate, grant
participations in or otherwise dispose of all or any portion of any Swingline Advances made by the Swingline Purchaser and represented by this Certificate and the indebtedness evidenced by this Certificate, subject to the applicable provisions of
the Sale and Servicing Agreement. 
 This Certificate is secured by the security interests granted pursuant to Section 9.1 of the
Sale and Servicing Agreement. The holder of this Certificate is entitled to the benefits of the Sale and Servicing Agreement as a Secured Party thereunder and, subject to the terms of the Sale and Servicing Agreement, such holder or the Trustee, on
behalf of the Secured Parties, may enforce the agreements of the Seller contained in the Sale and Servicing Agreement and exercise the remedies provided for by, or otherwise available in respect of, the Sale and Servicing Agreement, all in
accordance with, and subject to the restrictions contained in, the terms of the Sale and Servicing Agreement. If a Termination Event shall occur, the unpaid balance of the principal of all Swingline Advances, together with accrued interest thereon,
may be declared, or shall automatically become, as applicable, due and payable in the manner and with the effect provided in the Sale and Servicing Agreement. 
 The Seller, the Originator, the Servicer, the Swingline Purchasers, the Trustee, and the Backup Servicer each intend that this Certificate be evidence of indebtedness of the Seller secured by the Collateral other than
Real Estate Loans. The Swingline Purchaser, as a Swingline Purchaser under the Sale and Servicing Agreement, by the acceptance hereof, agrees to treat the Certificate as indebtedness of the Seller. 
 This Certificate is one of the “Variable Funding Certificates” referred to in Section 2.1 of the Sale and Servicing Agreement. This
Certificate shall be construed in accordance with and governed by the laws of the State of New York. 
 [Remainder of Page Intentionally
Left Blank] 

 IN WITNESS WHEREOF, the undersigned has executed this Certificate as on the date first written above.

  

			
	NEWSTAR CP FUNDING LLC
		
	By:	 	NEWSTAR FINANCIAL, INC., as Designated Manager
		
	By:	 	  
	Name:	 	
	Title:	 	

 Schedule attached to Variable Funding Certificate dated [__________] [__], 2006 of NEWSTAR CP FUNDING LLC payable to the
order of Wachovia Bank, National Association 
  

							
	 Date of
 Advance or
 Repayment
	  	 Principal
 Amount of
 Advance
	  	 Principal
 Amount of
 Repayment
	  	 Outstanding
 Principal
 Amount

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00114-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00114-of-00352.parquet"}]]