SEC Contract Filing

Filing Date: 2017-08-24

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>pmt-ex102_7.htm
<DESCRIPTION>EX-10.2 - DB GUARANTY
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pmt-ex102_7.htm
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<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Exhibit 10.2</p>
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">EXECUTION VERSION</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-align:center;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">GUARANTY</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-align:justify;text-indent:15.38%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">THIS GUARANTY, dated as of August 18, 2017 (as amended, restated, supplemented or otherwise modified from time to time, this &#8220;<font style="text-decoration:underline;">Guaranty</font>&#8221;), is made by PennyMac Mortgage Investment Trust (the &#8220;<font style="text-decoration:underline;">Guarantor</font>&#8221;), in favor of Deutsche Bank AG, Cayman Islands Branch (the &#8220;<font style="text-decoration:underline;">Buyer</font>&#8221;). </p>
<p style="margin-bottom:12pt;margin-top:0pt;text-align:center;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">RECITALS</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-align:justify;text-indent:15.38%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Pursuant to the Master Repurchase Agreement, dated as of August 18, 2017 (as amended, restated, supplemented or otherwise modified from time to time, the &#8220;<font style="text-decoration:underline;">Repurchase Agreement</font>&#8221;), between PennyMac Corp. (the &#8220;<font style="text-decoration:underline;">Seller</font>&#8221;) and the Buyer, the Buyer has agreed from time to time to enter into transactions with Seller upon the terms and subject to the conditions set forth therein.&nbsp;&nbsp;It is a condition precedent to the obligation of the Buyer to enter into Transactions with the Seller under the Repurchase Agreement that the Guarantor shall have executed and delivered this Guaranty to the Buyer.</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-align:justify;text-indent:15.38%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Now, therefore, in consideration of the premises and to induce the Buyer to enter into the Repurchase Agreement and engage in Transactions with the Seller, and for other good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, the Guarantor hereby agrees to guarantee the Seller&#8217;s payment obligations under the Repurchase Agreement, as may be amended from time to time.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.38%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Defined Terms</font>.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.38%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(a)<font style="margin-left:108pt;">Unless otherwise defined herein, terms defined in the Repurchase Agreement and used herein shall have the meanings given to them in the Repurchase Agreement.</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.38%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(b)<font style="margin-left:108pt;">For purposes of this Guaranty, &#8220;</font><font style="text-decoration:underline;color:#auto;">Obligations</font>&#8221; shall mean all payment obligations and liabilities of the Seller to the Buyer, whether direct or indirect, absolute or contingent, due or to become due, or now existing or hereafter incurred (including, without limitation, Price Differential accruing after the Repurchase Date for the Transactions and Price Differential accruing after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding, relating to Seller, whether or not a claim for post filing or post-petition interest is allowed in such proceeding and payment of the Repurchase Price when due), which may arise under, or out of or in connection with the Repurchase Agreement, this Guaranty and any other Repurchase Documents and any other document made, delivered or given in connection therewith or herewith, whether on account of principal, interest, reimbursement obligations, fees, indemnities, costs, expenses (including, without limitation, all fees and disbursements of counsel to the Buyer that are required to be paid by the Seller pursuant to the terms of such documents), all &#8220;claims&#8221; (as defined in Section 101 of the Bankruptcy Code) of the Buyer against Seller, or otherwise.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.38%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(c)<font style="margin-left:108pt;">The words &#8220;hereof,&#8221; &#8220;herein&#8221; and &#8220;hereunder&#8221;