SEC Contract Filing

Filing Date: 2016-11-04

Document Content:
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<TYPE>EX-10.57
<SEQUENCE>4
<FILENAME>pmt-ex1057_734.htm
<DESCRIPTION>EX-10.57
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">EXECUTION</p>
<p style="text-align:right;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Exhibit 10.57</p>
<p style="text-align:center;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">AMENDMENT NUMBER SIXTEEN</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">to the</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">MASTER REPURCHASE AGREEMENT</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="OLE_LINK6"></a>Dated as of May 24, 2012,</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">among</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">PENNYMAC CORP.,</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> PENNYMAC LOAN SERVICES, LLC</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">and</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">CITIBANK, N.A. </p>
<p style="margin-bottom:0pt;margin-top:12pt;text-align:justify;text-indent:5.24%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">This AMENDMENT NUMBER SIXTEEN (this &#8220;<font style="text-decoration:underline;">Amendment Number Sixteen</font>&#8221;) is made this 20th day of October, 2016, among PENNYMAC CORP. (&#8220;<font style="text-decoration:underline;">Seller</font>&#8221;), PENNYMAC LOAN SERVICES, LLC (&#8220;<font style="text-decoration:underline;">Servicer</font>&#8221;) and CITIBANK, N.A. (&#8220;<font style="text-decoration:underline;">Buyer</font>&#8221;), to the Master Repurchase Agreement, dated as of May 24, 2012, among Seller, Servicer and Buyer, as such agreement may be amended from time to time (the &#8220;<font style="text-decoration:underline;">Agreement</font>&#8221;).&nbsp;&nbsp;Capitalized terms used but not otherwise defined herein shall have the meanings assigned to such terms in the Agreement.</p>
<p style="margin-bottom:0pt;margin-top:12pt;text-align:center;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">RECITALS</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:5.24%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_DV_M6"></a><a name="_DV_M7"></a><a name="_DV_M8"></a><a name="_DV_M10"></a>WHEREAS, Seller and Buyer have agreed to extend the term of the facility, as more specifically set forth herein; and</p>
<p style="margin-bottom:0pt;margin-top:12pt;text-align:justify;text-indent:5.24%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS, as of the date hereof, Seller represents to Buyer that the Seller Parties are in full compliance with all of the terms and conditions of the Agreement and each other Program Document and no Default or Event of Default has occurred and is continuing under the Agreement or any other Program Document.</p>
<p style="margin-bottom:0pt;margin-top:12pt;text-align:justify;text-indent:5.24%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_DV_M11"></a>NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and for the mutual covenants herein contained, the parties hereto hereby agree as follows:</p>
<p style="margin-bottom:0pt;margin-top:12pt;text-align:justify;text-indent:10.46%;font-size:10pt;text-transform:uppercase;font-family:Times New Roman;font-weight:normal;font-style:normal;font-variant: normal;">Section 1.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;text-transform:none;">Amendments</font><font style="text-transform:none;">.&nbsp;&nbsp;Effective as of October 20, 2016 (the &#8220;</font><font style="text-decoration:underline;text-transform:none;">Amendment Effecti