Letter Agreement Terminating EBITDA Payment Obligations between The Huntington National Bank and Franklin Credit Entities

Summary

This letter agreement, dated September 22, 2010, is between The Huntington National Bank and Franklin Credit Holding Corporation, Franklin Credit Management Corporation, and related parties. It cancels the obligation for The Huntington National Bank to make any EBITDA Payment as previously set out in a July 16, 2010 letter agreement. The agreement is governed by Ohio law and may be executed in counterparts. No further EBITDA Payments are required under the prior agreement.

EX-10.4 5 c06214exv10w4.htm EXHIBIT 10.4 Exhibit 10.4

Exhibit 10.4

(614) ###-###-####

September 22, 2010

Franklin Credit Holding Corporation
Franklin Credit Management Corporation
101 Hudson Street, 25^th Floor
Jersey City, New Jersey 07302
Attention: Thomas J. Axon, Chairman

Re: EBITDA Payment

Dear Tom:

Reference is hereby made to a certain letter agreement dated July 16, 2010, (the “July Letter Agreement”) between and among Franklin Credit Holding Corporation, Franklin Credit Management Corporation, Thomas J. Axon, The Huntington National Bank and Franklin Mortgage Asset Trust 2009-A. Terms used in this letter agreement and not otherwise defined herein shall have the meanings ascribed to such terms in the July Letter Agreement.

The Huntington National Bank hereby cancels and terminates the obligations to make any EBITDA Payment as set forth in Paragraph No. 5 of Annex 1 to the July Letter Agreement.

This letter agreement will be governed by and construed in accordance with the laws of the State of Ohio. This letter agreement may be executed in counterparts, each of which when so executed and delivered shall be deemed an original, but all such counterparts together shall constitute one and the same instrument.


	Very truly yours, THE HUNTINGTON NATIONAL BANK
	By:	/s/ David L. Abshier
		David L. Abshier, Authorized Signer