Third Amendment to Master Repurchase Agreement, dated as of October 13, 2017, among JPMorgan Chase Bank, N.A., PennyMac Corp. and PennyMac Operating Partnership, L.P
Exhibit 10.10
THIRD AMENDMENT TO MASTER REPURCHASE AGREEMENT
Dated as of October 13, 2017
Between:
PENNYMAC CORP., as a Seller
and
PENNYMAC OPERATING PARTNERSHIP, L.P., as a Seller
and
JPMORGAN CHASE BANK, N.A., as Buyer
The Parties have agreed to amend the Master Repurchase Agreement dated October 14, 2016 between them (the “Original MRA”, as amended by the First Amendment to Master Repurchase Agreement dated May 23, 2017 and the Second Amendment to Master Repurchase Agreement dated October 13, 2017 (the “Amended MRA”) and as amended hereby and as further supplemented, amended or restated from time to time (the “MRA”)), to extend the latest Termination Date, and they hereby amend the Amended MRA as follows.
All capitalized terms used in the Amended MRA and used, but not defined differently, in this amendment (the “Third Amendment to MRA” or within itself only, this “Amendment”) have the same meanings here as there.
1.Definitions; Interpretation
The following definition is amended to read as follows:
“Termination Date” means the earliest of (i) the Business Day, if any, that Sellers designate as the Termination Date by written notice given to Buyer at least sixty (60) days (or, if Section 8(d) is applicable, thirty (30) days) before such date, (ii) if a Change in Executive Management has occurred, the Business Day, if any, that Buyer designates as the Termination Date by written notice given to Sellers at least ninety (90) days before such date, (iii) the date of declaration of the Termination Date pursuant to Section 12(b)(i), and (iv) October 12, 2018.
(The remainder of this page is intentionally blank; counterpart signature pages follow)
1
As amended hereby, the Amended MRA remains in full force and effect, and the Parties hereby ratify and confirm it.
| JPMORGAN CHASE BANK, N.A. | ||
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| By: |
| /s/ Aaron Deutschendorf |
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| Authorized Representative |
| PennyMac Corp. | ||
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| By: |
| /s/ Pamela Marsh |
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| Pamela Marsh |
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| Managing Director, Treasurer |
| PennyMac OPERATING PARTNERSHIP, L.P. | ||
| By: |
| PennyMac GP OP, Inc., |
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| its general partner |
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| By: |
| /s/ Pamela Marsh |
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| Pamela Marsh |
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| Managing Director, Treasurer |
Counterpart signature page to Third Amendment to Master Repurchase Agreement dated as of October 13, 2017
