Common use of The Commitment Clause in Contracts

The Commitment. (a) Subject to the terms and conditions of this Agreement and provided no Default or Event of Default has occurred and is continuing, the Lender agrees, from time to time during the period from the date hereof to and including the Termination Date, to make Advances to the Borrowers, provided the sum of the total aggregate principal amount (b) Advances shall be used by a Borrower solely for the purpose of funding the acquisition of Eligible Mortgage Loans or Eligible Non-Conforming Mortgage Loans or for working capital purposes with respect to Advances against Investment Grade Securities, and none other, and shall be made at the request of such Borrower in the manner hereinafter provided in Section 2.2, against the pledge of such Mortgage Loans, Investment Grade Securities, and such other collateral as is set forth in Section 3.1 hereof as Collateral therefor. Advances shall also be subject to the following restrictions: (1) No Advance shall be made against Mortgage Loans that are not Eligible Mortgage Loans or Eligible Non-Conforming Mortgage Loans. (2) The aggregate amount of Advances outstanding at any one time against Delinquent "30 - 59" Loans shall not exceed five percent (5%) of the aggregate amount of all Advances outstanding at the time of any determination. (3) The aggregate amount of Advances outstanding at any one time against Delinquent "60 - 89" Loans shall not exceed two percent (2%) of the aggregate amount of all Advances outstanding at the time of any determination. (4) The aggregate amount of Advances against Second Mortgage Loans outstanding at any one time shall not exceed five percent (5%) of the aggregate amount of all Advances outstanding at the time of any determination. (5) The aggregate amount of Advances against Investment Grade Securities outstanding at any one time shall not exceed FIFTEEN MILLION AND NO/100 DOLLARS ($15,000,000.00) and of this amount, no more than FIVE MILLION AND NO/100 DOLLARS ($5,000,000.00) may be outstanding at any one time against Investment Grade I-O Strip Securities. (6) The aggregate amount of Advances against Aged Mortgage Loans outstanding at any one time shall not exceed twenty-five percent (25%) of the aggregate amount of all Advances outstanding at the time of any determination. (c) No Advance against an Eligible Mortgage Loan that is not a Second Mortgage Loan shall exceed an amount equal to 95% of the Collateral Value of such Mortgage Loan, to be determined as of the date such Mortgage Loan is pledged to Lender.

The Commitment. (a) ~ Subject to the terms and conditions of this Agreement and the Conditions Precedent described in Section 4.1 below, and provided no Default or Event of Default has occurred and is continuing, the Lender Bank agrees, from time to time during the period from the date hereof to and including the Termination Dateexpiration date as provided in Section ~2.6 hereof, to make Advances to the BorrowersCompany Subsidiary Loans to, provided the sum of or on behalf of, Company Subsidiaries, provided, however, that the total aggregate principal amountamount which is outstanding at any one time of all such Company Subsidiary Loans shall not exceed the lesser of (i) the aggregate approved principal amount of all Company Subsidiary Loans which have been approved by Bank under this Agreement from time to time, or (ii) the amount permitted by the lesser of (a) the loan policy guidelines adopted by the Bank from time to time or (b) any regulatory limitations applicable to the Bank which are now or hereafter in effect (the "Commitment"). (b) Advances Company Subsidiary Loans approved by Bank from time to time as provided herein shall be used by a Borrower Company Subsidiaries solely for the purpose of funding or financing the acquisition purchase of Eligible Mortgage Loans or Eligible Non-Conforming Mortgage Loans Loans, or for working capital purposes with respect to Advances against Investment Grade Securities, the consolidation and none other, and shall be made at the request refinancing of such Borrower in the manner hereinafter provided in Section 2.2, then existing Company Subsidiary Loans against the pledge of such Mortgage Loans, Investment Grade Securities, and such other collateral as is set forth in Section 3.1 hereof as Collateral therefor. Advances shall also be subject to the following restrictions: (1) No Advance shall be made against Mortgage Loans that are not Eligible Mortgage Loans or Eligible Non-Conforming Mortgage Loans. (2) The aggregate amount of Advances outstanding at any one time against Delinquent "30 - 59" Loans shall not exceed five percent (5%) of the aggregate amount of all Advances outstanding at the time of any determination. (3) The aggregate amount of Advances outstanding at any one time against Delinquent "60 - 89" Loans shall not exceed two percent (2%) of the aggregate amount of all Advances outstanding at the time of any determination. (4) The aggregate amount of Advances against Second Mortgage Loans outstanding at any one time shall not exceed five percent (5%) of the aggregate amount of all Advances outstanding at the time of any determination. (5) The aggregate amount of Advances against Investment Grade Securities outstanding at any one time shall not exceed FIFTEEN MILLION AND NO/100 DOLLARS ($15,000,000.00) and of this amount, no more than FIVE MILLION AND NO/100 DOLLARS ($5,000,000.00) may be outstanding at any one time against Investment Grade I-O Strip Securities. (6) The aggregate amount of Advances against Aged Mortgage Loans outstanding at any one time shall not exceed twenty-five percent (25%) of the aggregate amount of all Advances outstanding at the time of any determination. (c) No Advance against an Eligible All Company Subsidiary Loans outstanding prior to the date of this Agreement for the purpose of funding or financing the purchase of Pledged Mortgage Loan Loans shall be treated as having been issued under, and shall be subject to the covenants of, this Agreement. The Company shall cause all of its Subsidiaries which have such Company Subsidiary Loans outstanding to become parties to this Agreement by executing counterpart signature pages in the form of Exhibit E. In the event that is not a Second Mortgage Loan the terms of this Agreement shall exceed an amount equal to 95% conflict with the terms of the Collateral Value of loan documentation for such Mortgage a Company Subsidiary Loan, the terms of this Agreement shall prevail, except for interest rate terms, which shall not be affected by the terms of this Agreement, and except that any Default under any such loan, which has not been cured or waived, shall remain in effect. (d) The warehousing credit line extended by the Bank to be determined as Tribeca Lending Corporation, a New York corporation and a Subsidiary of the date such Mortgage Loan is pledged Company shall be separate from and shall not be subject to Lenderthis Agreement except as specifically otherwise provided in this Agreement.

The Commitment. (a) Subject to the terms and conditions of this Agreement and provided no Default or Event of Default has occurred and is continuing, the each Lender severally and not jointly agrees, from time to time during the period from the date hereof to and including the Termination Date, to make Advances to the BorrowersCompany, provided provided, however, that (1) the sum of the total aggregate principal amountamount outstanding at any one time of all such Advances shall not exceed the Aggregate Commitment Amount, and (2) no Lender’s portion of the Advances shall exceed such Lender’s Commitment Amount. Within the Commitment, the Company may borrow, repay and reborrow. All Advances under this Agreement shall constitute a single indebtedness, and all of the Collateral shall be security for the Notes and for the performance of all the Obligations of the Company. (b) Advances shall be used by a Borrower the Company solely for the purpose of funding the acquisition or origination of Eligible Mortgage Loans or Eligible Non-Conforming Mortgage Loans or for working capital purposes with respect to Advances against Investment Grade SecuritiesLoans, as specified in the Advance Request, and none other, and shall be made at the request of such Borrower the Company in the manner hereinafter provided in Section 2.2, against the pledge of such Mortgage Loans, Investment Grade Securities, and such other collateral as is set forth in Section 3.1 hereof as Collateral therefor. Advances shall also be subject to the following restrictions: (1) No Advance shall be made against Mortgage Loans that which are not Eligible Mortgage Loans or Eligible Non-Conforming Mortgage Loans. (2) The aggregate amount of Wet Settlement Advances outstanding at any one time against Delinquent "30 - 59" Loans shall not exceed five percent (5%) of the aggregate amount of all Advances outstanding at the time of any determination. (3) The aggregate amount of Advances outstanding at any one time against Delinquent "60 - 89" Loans shall not exceed two percent (2%) of the aggregate amount of all Advances outstanding at the time of any determination. (4) The aggregate amount of Advances against Second Mortgage Loans outstanding at any one time shall not exceed five percent the lesser of (5%i) of the aggregate amount of all Advances outstanding at the time of any determination. (5) The aggregate amount of Advances against Investment Grade Securities outstanding at any one time shall not exceed FIFTEEN TWENTY-FOUR MILLION AND NO/100 DOLLARS ($15,000,000.0024,000,000.00) and or (ii) forty-three percent (43%) of this amount, no more than FIVE MILLION AND NO/100 DOLLARS ($5,000,000.00) may be outstanding at any one time against Investment Grade I-O Strip Securitiesthe Aggregate Commitment Amount. (63) The aggregate amount of Advances against Aged Mortgage Loans outstanding at any one time shall not exceed twenty-five percent ONE MILLION AND NO/100 DOLLARS (25%$1,000,000.00). (4) of the The aggregate amount of all Advances against HELOC Mortgage Loans outstanding at the any one time shall not exceed TWO MILLION AND NO/100 DOLLARS ($2,000,000.00). (5) The aggregate amount of Advances against Repurchased Mortgage Loans outstanding at any determinationone time shall not exceed FIVE HUNDRED THOUSAND AND NO/100 DOLLARS ($500,000.00). (c) No Advance against an Eligible Mortgage Loan shall exceed the following amounts: (i) with respect to a Credit “A” Mortgage Loan that is not a Second Wamu Mortgage Loan shall exceed Loan, an amount equal to 95% ninety-eight percent (98%) of the Collateral Value of such Mortgage Loan, to be Loan determined as of the date is pledged to the Agent; (ii) with respect to a Wamu Mortgage Loan, an amount equal to one hundred percent (100%) of the Collateral Value of such Mortgage Loan determined as of the date it is pledged to Lenderthe Agent; (iii) with respect to a HELOC Mortgage Loan, an amount equal to ninety-six percent (96%) of the Collateral Value of such Mortgage Loan determined as of the date it is pledged to the Agent; and (iv) with respect to a Repurchased Mortgage Loan, an amount equal to eighty percent (80%) of the Collateral Value of such Mortgage Loan determined as of the date it is pledged to the Agent.

The Commitment. (a) Subject to the terms and conditions of this Agreement and provided no Default or Event of Default has occurred and is continuing, the Lender agrees, agrees from time to time during the period from the date hereof to and including Closing Date to, but not including, the Termination Date, Maturity Date to make Term Loan Advances to the BorrowersBorrower, provided the sum of the total aggregate principal amountamount outstanding at any one time of all such Advances shall not exceed the Commitment Amount. The obligation of the Lender to make Advances hereunder up to the Commitment Amount is hereinafter referred to as the "Commitment." Amounts repaid on the Advances may not be re- borrowed. All Advances under this Agreement shall constitute a single indebtedness, and all of the Collateral shall be security for the Promissory Note and for the performance of all the Obligations. (b) Advances shall be used by a the Borrower solely for the purpose of funding (i) refinancing Debt outstanding against the acquisition Pledged Certificates, (ii) paying liabilities of Eligible Mortgage Loans or Eligible Non-Conforming Mortgage Loans or for working capital purposes the Guarantor in connection with respect to Advances against Investment Grade Securitiesthe financing of certain assets of the Guarantor that are being liquidated, (iii) general corporate purposes, and none other(iv) paying the Commitment Fee, and shall be made at the request of such Borrower the Borrower, in the manner hereinafter provided in Section 2.2, against 2.4 hereof. The following limitations on the pledge of such Mortgage Loans, Investment Grade Securities, and such other collateral as is set forth in Section 3.1 hereof as Collateral therefor. Advances shall also be subject to the following restrictionsapplicable: (1) No Advance shall be made against Mortgage Loans that are not Eligible Mortgage Loans or Eligible Non-Conforming Mortgage Loans. (2) The if, after giving effect thereto, the aggregate amount of Advances outstanding at any one time against Delinquent "30 - 59" Loans shall not exceed five percent (5%) principal balance of the aggregate amount of all Advances outstanding at would exceed the time of any determination. (3) The aggregate amount of Advances outstanding at any one time against Delinquent "60 - 89" Loans shall not exceed two percent (2%) of the aggregate amount of all Advances outstanding at the time of any determination. (4) The aggregate amount of Advances against Second Mortgage Loans outstanding at any one time shall not exceed five percent (5%) of the aggregate amount of all Advances outstanding at the time of any determination. (5) The aggregate amount of Advances against Investment Grade Securities outstanding at any one time shall not exceed FIFTEEN MILLION AND NO/100 DOLLARS ($15,000,000.00) and of this amount, no more than FIVE MILLION AND NO/100 DOLLARS ($5,000,000.00) may be outstanding at any one time against Investment Grade I-O Strip Securities. (6) The aggregate amount of Advances against Aged Mortgage Loans outstanding at any one time shall not exceed twenty-five percent (25%) of the aggregate amount of all Advances outstanding at the time of any determination. (c) No Advance against an Eligible Mortgage Loan that is not a Second Mortgage Loan shall exceed an amount equal to 95% of the Residual Interest Collateral Value of such Mortgage Loan, to be determined as of the date of such Mortgage Loan is pledged to LenderAdvance.

The Commitment. (a) Subject to the terms and conditions of this Agreement and provided no Default or Event of Default has occurred and is continuing, the Lender agrees, agrees from time to time during the period from the date hereof to and including Closing Date to, but not including, the Termination Maturity Date, to make Advances to the BorrowersCompany, provided the sum of the total aggregate principal amountamount outstanding at any one time of all such Advances shall not exceed the Commitment Amount. The obligation of the Lender to make Advances hereunder up to the Commitment Amount is hereinafter referred to as the "Commitment." Within the Commitment, the Company may borrow, repay and reborrow. Effective as of the date of this Agreement, all outstanding loans made pursuant to the Warehousing Credit and Security Agreement shall for all purposes be deemed to be Advances made under this Agreement. All Advances under this Agreement shall constitute a single indebtedness, and all of the Collateral shall be security for the Note and for the performance of all the Obligations. (b) Advances shall be used by a Borrower the Company solely for the purpose of funding the acquisition or origination of Eligible Mortgage Loans or Eligible Non-Conforming Mortgage Loans or for working capital purposes with respect to Advances against Investment Grade Securities, and none other, and shall be made at the request of such Borrower the Company, in the manner hereinafter provided in Section 2.22.2 hereof, against the pledge of such Mortgage Loans, Investment Grade Securities, and such other collateral as is set forth in Section 3.1 hereof Eligible Loans as Collateral therefor. The limitations on the use of Advances set forth on EXHIBIT M attached hereto and made a part hereof shall be applicable. In addition, the following limitations on the use of Advances shall also be subject to the following restrictionsapplicable: (1) No Advance shall be made against any Mortgage Loans that are not Eligible Mortgage Loans or Eligible Non-Conforming Mortgage LoansLoan which was closed more than 90 days prior to the date of the requested Advance. (2) The aggregate amount of Advances outstanding at any No Advance shall be made against a Mortgage Loan other than a Mortgage Loan secured by a Mortgage on real property located in one time against Delinquent "30 - 59" Loans shall not exceed five percent (5%) of the aggregate amount of all Advances outstanding at the time of any determination. (3) The aggregate amount of Advances outstanding at any one time against Delinquent "60 - 89" Loans shall not exceed two percent (2%) states of the aggregate amount United States or the District of all Advances outstanding at the time of any determination. (4) The aggregate amount of Advances against Second Mortgage Loans outstanding at any one time shall not exceed five percent (5%) of the aggregate amount of all Advances outstanding at the time of any determination. (5) The aggregate amount of Advances against Investment Grade Securities outstanding at any one time shall not exceed FIFTEEN MILLION AND NO/100 DOLLARS ($15,000,000.00) and of this amount, no more than FIVE MILLION AND NO/100 DOLLARS ($5,000,000.00) may be outstanding at any one time against Investment Grade I-O Strip Securities. (6) The aggregate amount of Advances against Aged Mortgage Loans outstanding at any one time shall not exceed twenty-five percent (25%) of the aggregate amount of all Advances outstanding at the time of any determinationColumbia. (c) No Advance against an Eligible Mortgage Loan that is not a Second Mortgage Loan shall exceed an the following amount equal applicable to 95% the type of Eligible Loan at the Collateral Value of such Mortgage Loan, to be determined as of the date such Mortgage Loan time it is pledged to Lendersecure an Advance hereunder: (1) For an Eligible Loan pledged hereunder, the amount set forth on EXHIBIT M attached hereto and made a part hereof.

The Commitment. (a) Subject to the terms and conditions of this Agreement and provided no Default or Event of Default has occurred and is continuing, the each Lender severally and not jointly agrees, from time to time during the period from the date hereof to and up to, but not including the Termination Maturity Date, to make Advances to the BorrowersBorrower, provided provided, however, that (1) the sum of the total aggregate principal amountamount outstanding at any one time of all such Advances shall not exceed the Commitment, and (2) no Lender’s portion of the Advances shall exceed such Lender’s Commitment Amount. The aggregate amount of all Advances outstanding from time to time hereunder may hereinafter collectively be referred to as the “Loan.” Within the Commitment, the Borrower may borrow, repay and reborrow. All Advances under this Agreement shall constitute a single indebtedness, and all of the Collateral shall be security for the Notes and for the performance of all the Obligations of the Borrower. (b) Advances shall be used by a the Borrower solely for the purpose of funding the acquisition origination of Eligible Mortgage Loans or Eligible Non-Conforming Mortgage Loans or for working capital purposes with respect to Advances against Investment Grade Securitiesas specified in the Advance Request, and none other, and shall be made at the request of such the Borrower in the manner hereinafter provided in Section 2.2, against the pledge of such Mortgage Loans, Investment Grade Securities, and such other collateral as is set forth in Section 3.1 hereof as Collateral therefor. Advances shall also be subject to the following restrictions: (1) No Advance shall be made against Mortgage Loans that are not Eligible Mortgage Loans or Eligible Non-Conforming Mortgage Loans. (2) The aggregate amount of Advances outstanding at any one time against Delinquent "30 - 59" Loans shall not exceed five percent (5%) of the aggregate amount of all Advances outstanding at the time of any determination. (3) The aggregate amount of Advances outstanding at any one time against Delinquent "60 - 89" Loans shall not exceed two percent (2%) of the aggregate amount of all Advances outstanding at the time of any determination. (4) The aggregate amount of Advances against Second Mortgage Loans outstanding at any one time shall not exceed five percent (5%) of the aggregate amount of all Advances outstanding at the time of any determination. (5) The aggregate amount of Advances against Investment Grade Securities outstanding at any one time shall not exceed FIFTEEN MILLION AND NO/100 DOLLARS ($15,000,000.00) and of this amount, no more than FIVE MILLION AND NO/100 DOLLARS ($5,000,000.00) may be outstanding at any one time against Investment Grade I-O Strip Securities. (6) The aggregate amount of Advances against Aged Mortgage Loans outstanding at any one time shall not exceed twenty-five percent (25%) of the aggregate amount of all Advances outstanding at the time of any determination. (c) No In addition to the limitations set forth in this Agreement, each Advance against to fund an Eligible Mortgage Loan that is not a Second Mortgage Loan shall exceed an amount equal be limited to 95% the lesser of (x) the Mortgage Note Amount, or (y) the Committed Purchase Price amount. (d) In the event at any time the outstanding principal balance of the Loan should exceed the lesser of (x) the Commitment or (y) the aggregate Collateral Value of all Eligible Loans against which Advances are then outstanding, the Borrower shall repay such Mortgage Loan, excess amount on demand to be determined as the Agent so that the outstanding principal balance of the date such Mortgage Loan is pledged in compliance with the terms and provisions hereof. (e) The Lenders shall have no obligation to Lendermake any Advances hereunder to fund the origination of ▇▇▇▇▇▇ Mae DUS Mortgage Loans, Other ▇▇▇▇▇▇ ▇▇▇ Mortgage Loans or ▇▇▇▇▇▇▇ Mac Loans if Standard & Poor’s reduces the credit rating of ▇▇▇▇▇▇ ▇▇▇ (with respect to ▇▇▇▇▇▇ Mae DUS Mortgage Loans or Other ▇▇▇▇▇▇ ▇▇▇ Mortgage Loans) or ▇▇▇▇▇▇▇ Mac (with respect to ▇▇▇▇▇▇▇ Mac Loans) to A or lower (or another Rating Agency reduces such credit rating to a comparable rating).

The Commitment. (a) Subject to The Lender agrees, on the terms and conditions of this Agreement and provided no Default or Event of Default has occurred and is continuinghereinafter set forth, to make available advances (each an “Advance”) to the Lender agrees, Borrower from time to time on any Business Day during the period from the Availability Date until the Commitment Termination Date (the “Commitment Period”) in an aggregate amount not to exceed at any time an aggregate principal amount of $330,000,000 in three (3) Tranches as follows: (a) Up to an aggregate principal amount of $150,000,000 (“Tranche A”), in up to four (4) Advances, whereof: (i) the first Advance shall be in an amount up to $60,000,000 ($90,000,000 if the vessel SEA BEAUTY (to be renamed PEREGRINE) shall have been acquired by Peregrine Shipping LLC prior to the date hereof to of the first Advance), and including shall be applied by the Termination DateBorrower, together with the proceeds of the IPO, to make Advances assist the Initial Guarantors fully to repay indebtedness under the Existing Credit Agreement in relation to the Borrowers, provided Delivered Vessels; and (ii) each additional Advance shall be applied by the sum Borrower to assist the relevant Initial Guarantor to finance up to 100% of the total aggregate principal amountpurchase price of the relevant Remaining Vessel under the relevant Memorandum of Agreement; (b) Up to an aggregate principal amount of $10,000,000 (“Tranche B”), in one or more Advances shall be used by a Borrower solely for the purpose of funding the acquisition of Eligible Mortgage Loans or Eligible Non-Conforming Mortgage Loans or for working capital purposes with respect purposes; provided, however, no Advance of Tranche B shall be made on or after the Tranche B Repayment Date; and (c) The balance of the Commitment, after deducting the aggregate principal amount of all Advances of Tranche A or Tranche B outstanding as of the date of any Notice of Drawdown (such balance as of any relevant date, “Tranche C”), in one or more Advances, whereof each such Advance shall be applied by the Borrower to Advances against Investment Grade Securities, and none otherassist a Guarantor to finance a portion of the purchase price of an Additional Vessel under the relevant Memorandum of Agreement, and shall be made at an amount which, together with all other Advances of the request of such Borrower in the manner hereinafter provided in Section 2.2Commitment then outstanding, against the pledge of such Mortgage Loans, Investment Grade Securities, and such other collateral as is set forth in Section 3.1 hereof as Collateral therefor. Advances shall also be subject to the following restrictions: (1) No Advance shall be made against Mortgage Loans that are not Eligible Mortgage Loans or Eligible Non-Conforming Mortgage Loans. (2) The aggregate amount of Advances outstanding at any one time against Delinquent "30 - 59" Loans shall not exceed five sixty percent (560%) of the aggregate amount of the Fair Market Values of all Advances outstanding at Vessels which would be subject to a Mortgage immediately after the time making of any determination. such Advance (3) The aggregate amount of Advances outstanding at any one time against Delinquent "60 - 89" Loans shall not exceed two percent (2%) determined on the basis of the aggregate amount of all Advances outstanding at most recent valuation for each Vessel delivered pursuant to Section 3.03(c)(iv)). Within the time of any determination. (4) The aggregate amount of Advances against Second Mortgage Loans outstanding at any one time shall not exceed five percent (5%) limits of the aggregate amount Commitment and each Tranche of all Advances outstanding at the time of any determination. (5) The aggregate amount of Advances against Investment Grade Securities outstanding at any one time shall not exceed FIFTEEN MILLION AND NO/100 DOLLARS ($15,000,000.00) Commitment, and of Section 2.02 hereof, the Borrower may borrow under this amountSection 2.01, no more than FIVE MILLION AND NO/100 DOLLARS ($5,000,000.00) may be outstanding at any one time against Investment Grade I-O Strip Securitiesrepay pursuant to Section 2.04 and reborrow under this Section 2.01. (6) The aggregate amount of Advances against Aged Mortgage Loans outstanding at any one time shall not exceed twenty-five percent (25%) of the aggregate amount of all Advances outstanding at the time of any determination. (c) No Advance against an Eligible Mortgage Loan that is not a Second Mortgage Loan shall exceed an amount equal to 95% of the Collateral Value of such Mortgage Loan, to be determined as of the date such Mortgage Loan is pledged to Lender.

The Commitment. (a) Subject to the terms and conditions of this Agreement and provided no Default or Event of Default has occurred and is continuing, the Lender agrees, from time to time during the period from the date hereof to and including the Termination Date, to make Advances to the BorrowersCompany, provided provided, however, the sum of the total aggregate principal amountamount outstanding at any one time of all such Advances shall not exceed the Commitment Amount. The obligation of the Lender to make Advances hereunder up to but not exceeding the Commitment Amount is hereinafter referred to as the “Commitment”. Within the Commitment, the Company may borrow, repay and reborrow. All Advances under this Agreement shall constitute a single indebtedness, and all of the Collateral shall be security for the Note and for the performance of all the Obligations of the Company. (b) Advances shall be used by a Borrower the Company solely for the purpose of funding the acquisition or origination of Eligible Mortgage Loans or Eligible Non-Conforming Mortgage Loans or for working capital purposes with respect to Advances against Investment Grade SecuritiesLoans, as specified in the Advance Request, and none other, and shall be made at the request of such Borrower the Company in the manner hereinafter provided in Section 2.2, against the pledge of such Mortgage Loans, Investment Grade Securities, and such other collateral as is set forth in Section 3.1 hereof as Collateral therefor. Advances shall also be subject to the following restrictions: (1) No Advance shall be made against Mortgage Loans that which are not Eligible Mortgage Loans or Eligible Non-Conforming Mortgage Loans. (2) The aggregate amount of Wet Settlement Advances outstanding at any one time against Delinquent "30 - 59" Loans shall not exceed five percent (5%) of the aggregate amount of all Advances outstanding at the time of any determination. (3) The aggregate amount of Advances outstanding at any one time against Delinquent "60 - 89" Loans shall not exceed two percent (2%) of the aggregate amount of all Advances outstanding at the time of any determination. (4) The aggregate amount of Advances against Second Mortgage Loans outstanding at any one time shall not exceed five an amount equal to forty percent (540%) of the aggregate amount of all Advances outstanding Commitment Amount at any time during the time first and last five business days of any determination.calendar month or thirty percent (30%) of the Commitment Amount at any other time during such calendar month.. (5) The aggregate amount of Advances against Investment Grade Securities outstanding at any one time shall not exceed FIFTEEN MILLION AND NO/100 DOLLARS ($15,000,000.00) and of this amount, no more than FIVE MILLION AND NO/100 DOLLARS ($5,000,000.00) may be outstanding at any one time against Investment Grade I-O Strip Securities. (63) The aggregate amount of Advances against Aged Mortgage Loans outstanding at any one time shall not exceed twenty-five percent TWO MILLION FIVE HUNDRED THOUSAND AND NO/100 DOLLARS (25%$2,500,000.00). (4) The aggregate amount of Advances against HELOC Mortgage Loans outstanding at any one time shall not exceed TWO MILLION FIVE HUNDRED THOUSAND AND NO/100 DOLLARS ($2,500,000.00). (5) The aggregate amount of Advances against all Jumbo Loans and Super Jumbo Loans outstanding at any one time shall not exceed SEVEN MILLION FIVE HUNDRED THOUSAND AND NO/100 DOLLARS ($7,500,000.00); provided, further however, that in no event shall the aggregate amount of all Advances against Super Jumbo Loans outstanding at the any one time of any determination.exceed FIVE MILLION AND NO/100 DOLLARS ($5,000,000.00).. (c) No Advance against an Eligible Mortgage Loan that is not a Second Mortgage Loan shall exceed the following amounts: (i) with respect to a Credit ”A” Mortgage Loan, an amount equal to 95% ninety-eight percent (98%) of the Collateral Value of such Mortgage Loan, to be Loan determined as of the date is pledged to the Lender; (ii) with respect to a Relocation Mortgage Loan, an amount equal to ninety percent (90%) of the Collateral Value of such Mortgage Loan determined as of the date is pledged to the Lender; and (iii) with respect to a HELOC Mortgage Loan, an amount equal to ninety-six percent (96%) of the Collateral Value of such Mortgage Loan determined as of the date it is pledged to the Lender.

The Commitment. (a) Subject to the terms and conditions of this Agreement and provided no Default or Event of Default has occurred and is continuing, the Lender agrees, from time to time during the period from the date hereof to and including the Termination Date, to expiration date (unless such period is earlier determined pursuant hereto) make Advances to the BorrowersCompany, provided the sum of the total aggregate principal amountamount which is outstanding at any one time of all such Advances shall not exceed Fifteen Million Dollars ($15,000,000). The obligation of the Lender to make Advances hereunder up to such limit or the amount to which such limit may be reduced pursuant to Section ------- 2.7(b) hereof, is hereinafter referred to as the "Commitment". Within the ------ Commitment, the Company may borrow, repay and reborrow. (b) Advances shall be used by a Borrower the Company solely for the purpose of funding the acquisition origination and/or purchase of Eligible Mortgage Loans or Eligible Non-Conforming Mortgage Loans or for working capital purposes with respect to Advances against Investment Grade Securities, and none other, and shall be made at the request of such Borrower the Company, in the manner hereinafter provided in Section 2.2, ----------- against the pledge of such Mortgage Loans, Investment Grade Securities, and such other collateral as is set forth in Section 3.1 hereof as Collateral therefor. Advances shall also be subject to the following restrictions: (1) No Advance shall be made against any Mortgage Loans that are Loan which is not Eligible covered by a Purchase Commitment. Such Purchase Commitment shall include a direction by the Company to the Investor of such Mortgage Loans or Eligible Non-Conforming Loan to pay the purchase price of such Mortgage LoansLoan to the Lender. (2c) Each Advance shall cover only one Mortgage Loan. No Advance shall exceed the Collateral Value of the related Mortgage Loan for which the Advance is made, unless such excess is collateralized by cash in a restricted cash and collateral account with the Lender. (d) The aggregate amount of all outstanding Advances outstanding funded through Wet Settlements shall not, at any one time against Delinquent "30 - 59" Loans shall not time, exceed five percent (5%) of the aggregate amount of all Advances outstanding at the time of any determination$3,000,000. (3) The aggregate amount of Advances outstanding at any one time against Delinquent "60 - 89" Loans shall not exceed two percent (2%) of the aggregate amount of all Advances outstanding at the time of any determination. (4) The aggregate amount of Advances against Second Mortgage Loans outstanding at any one time shall not exceed five percent (5%) of the aggregate amount of all Advances outstanding at the time of any determination. (5) The aggregate amount of Advances against Investment Grade Securities outstanding at any one time shall not exceed FIFTEEN MILLION AND NO/100 DOLLARS ($15,000,000.00) and of this amount, no more than FIVE MILLION AND NO/100 DOLLARS ($5,000,000.00) may be outstanding at any one time against Investment Grade I-O Strip Securities. (6) The aggregate amount of Advances against Aged Mortgage Loans outstanding at any one time shall not exceed twenty-five percent (25%) of the aggregate amount of all Advances outstanding at the time of any determination. (c) No Advance against an Eligible Mortgage Loan that is not a Second Mortgage Loan shall exceed an amount equal to 95% of the Collateral Value of such Mortgage Loan, to be determined as of the date such Mortgage Loan is pledged to Lender.

The Commitment. (a) Subject to the terms and conditions of this Agreement and provided no Default or Event of Default has occurred and is continuing, the Lender agrees, from time to time during the period from the date hereof to and including the Termination Date, to make Advances to the Borrowers, provided the sum of the total aggregate principal amount (b) Advances shall be used by a Borrower solely for the purpose of funding the acquisition of Eligible Mortgage Loans or Eligible Non-Conforming Mortgage Loans or for working capital purposes with respect to Advances against Investment Grade Securities, and none other, and shall be made at the request of such Borrower in the manner hereinafter provided in Section 2.2, against the pledge of such Mortgage Loans, Investment Grade Securities, and such other collateral as is set forth in Section 3.1 hereof as Collateral therefor. Advances shall also be subject to the following restrictions: (1) No Advance shall be made against Mortgage Loans that are not Eligible Mortgage Loans or Eligible Non-Conforming Mortgage Loans. (2) The aggregate amount of Advances outstanding at any one time against Delinquent "30 - 59" Loans shall not exceed five percent (5%) of the aggregate amount of all Advances outstanding at the time of any determination. (3) The aggregate amount of Advances outstanding at any one time against Delinquent "60 - 89" Loans shall not exceed two percent (2%) of the aggregate amount of all Advances outstanding at the time of any determination. (4) The aggregate amount of Advances against Second Mortgage Loans outstanding at any one time shall not exceed five percent (5%) of the aggregate amount of all Advances outstanding at the time of any determination. (5) The aggregate amount of Advances against Investment Grade Securities outstanding at any one time shall not exceed FIFTEEN MILLION AND NO/100 DOLLARS ($15,000,000.00) and of this amount, no more than FIVE MILLION AND NO/100 DOLLARS ($5,000,000.00) may be outstanding at any one time against Investment Grade I-I- O Strip Securities. (6) The aggregate amount of Advances against Aged Mortgage Loans outstanding at any one time shall not exceed twenty-five percent (25%) of the aggregate amount of all Advances outstanding at the time of any determination. (c) No Advance against an Eligible Mortgage Loan that is not a Second Mortgage Loan shall exceed an amount equal to 95% of the Collateral Value of such Mortgage Loan, to be determined as of the date such Mortgage Loan is pledged to Lender.

The Commitment. (a) Subject to the terms and conditions of this Agreement and provided no Default or Event of Default has occurred and is continuing, the Lender agrees, agrees from time to time during the period from the date hereof to and including Closing Date, to, but not including, the Termination Maturity Date, to make Advances to the BorrowersCompany, provided the sum of the total aggregate principal amountamount outstanding at any one time of all such Advances shall not exceed the Commitment Amount. The obligation of the Lender to make Advances hereunder up to such limit, is hereinafter referred to as the "Commitment." Within the Commitment, the Company may borrow, repay and reborrow. Effective as of the date of this Agreement, all outstanding loans made pursuant to the Original Agreement shall for all purposes be deemed to be Advances made under this Agreement. All Advances under this Agreement shall constitute a single indebtedness, and all of the Collateral shall be security for the Note and for the performance of all the Obligations. 130 (b) Advances shall be used by a Borrower the Company solely for the purpose of (i) funding the acquisition or origination of Eligible Mortgage Loans or Eligible Non-Conforming (ii) reimbursing the Company for its funding the acquisition or origination of Mortgage Loans or for working capital purposes with respect to Advances against Investment Grade Securities, and none otherLoans, and shall be made at the request of such Borrower the Company, in the manner hereinafter provided in Section 2.22.2 hereof, against the pledge of such Mortgage Loans, Investment Grade Securities, and such other collateral as is set forth in Section 3.1 hereof Loans as Collateral therefor. The following limitations on the use of Advances shall also be subject to the following restrictionsapplicable: (1) No Advance shall be made against a Mortgage Loans that are Loan other than a Single-family Mortgage Loan and no Construction Advance shall be made against a Construction/Perm Mortgage Loan which is not Eligible Mortgage Loans or Eligible Nona single-Conforming Mortgage Loansfamily detached dwelling. (2) The aggregate amount of Advances outstanding at any one time No Advance shall be made against Delinquent "30 - 59" Loans shall a Mortgage Loan which is not exceed five percent (5%) of the aggregate amount of all Advances outstanding at the time of any determinationcovered by a Purchase Commitment. (3) The aggregate amount of Advances outstanding at any one time No Advance shall be made against Delinquent "60 - 89" Loans shall not exceed two percent (2%) of the aggregate amount of all Advances outstanding at the time of any determinationa Home Equity Mortgage Loan. (4) The aggregate amount of Wet Settlement Advances against Second Mortgage Loans outstanding at any one time shall not exceed thirty-five percent (535%) of the aggregate amount of all Advances outstanding at the time of any determinationCommitment Amount. (5) The aggregate amount of Construction Advances against Investment Grade Securities outstanding at any one time shall not exceed FIFTEEN MILLION AND NO/100 DOLLARS Five Million Dollars ($15,000,000.00) and of this amount, no more than FIVE MILLION AND NO/100 DOLLARS ($5,000,000.00) may be outstanding at any one time against Investment Grade I-O Strip Securities5,000,000). (6) The aggregate amount of Nonconforming Advances against Aged Mortgage Loans outstanding at any one time shall not exceed twenty-five percent One Million Dollars (25%) of the aggregate amount of all Advances outstanding at the time of any determination$1,000,000). (c7) No Ordinary Warehousing Advance (other than a Construction/Permanent Mortgage Loan) shall be made against an Eligible any Mortgage Loan that is not a Second Mortgage Loan shall exceed an amount equal which was closed more than ninety (90) days prior to 95% the date of the Collateral Value of such Mortgage Loan, to be determined as of the date such Mortgage Loan is pledged to Lenderrequested Advance.