AMENDMENT NO. 1 TO AMENDED AND RESTATED CREDIT AGREEMENT AND REPLACEMENT OF SCHEDULE TO AMENDED AND RESTATED SECURITY AGREEMENT
Exhibit 10.3
AMENDMENT NO. 1 TO
AMENDED AND RESTATED CREDIT AGREEMENT
AND REPLACEMENT OF SCHEDULE
TO AMENDED AND RESTATED SECURITY AGREEMENT
AMENDED AND RESTATED CREDIT AGREEMENT
AND REPLACEMENT OF SCHEDULE
TO AMENDED AND RESTATED SECURITY AGREEMENT
THIS AMENDMENT NO. 1 TO AMENDED AND RESTATED CREDIT AGREEMENT AND REPLACEMENT OF SCHEDULE TO
AMENDED AND RESTATED SECURITY AGREEMENT (this “Amendment”) is entered into this
11th day of June, 2010 (the “Amendment Effective Date”), by and among FRANKLIN
CREDIT ASSET CORPORATION, a Delaware Corporation (“Franklin Asset”), TRIBECA LENDING CORP., a New
York corporation (“Tribeca”), Franklin Asset, LLC, a Delaware limited liability company (“FCAC
Subco”) and the other BORROWERS listed on Schedule 1 hereto (together with Franklin Asset,
Tribeca and FCAC Subco, each, a “Borrower” and collectively, the “Borrowers”), THE FINANCIAL
INSTITUTIONS PARTY HERETO AS LENDERS (each, a “Lender” and collectively, the “Lenders”), and THE
HUNTINGTON NATIONAL BANK, a national banking association (“Huntington”) as administrative agent for
the Lenders, in such capacity, and together with its successors and assigns in such capacity, the
“Administrative Agent”).
This Amendment amends and modifies a certain Amended and Restated Credit Agreement dated as of
March 31, 2009 (as amended, supplemented, restated, or otherwise modified from time to time prior
to the date hereof, the “Credit Agreement”) by and among the Borrowers, the Lenders and the
Administrative Agent and replaces Schedule 3 to a certain Amended and Restated Security Agreement
dated as of March 31, 2009 (as amended, supplemented, restated, or otherwise modified from time to
time prior to the date hereof, the “All Asset Security Agreement”) by and among the Borrowers and
the Administrative Agent. Capitalized terms used in this Amendment and not otherwise defined
herein shall have the meanings ascribed to such terms in the Credit Agreement.
RECITALS:
A. As of March 31, 2009, the Borrowers, the Lenders and the Administrative Agent executed the
Credit Agreement, amending and restating the terms of certain extensions of credit to the Borrowers
and reaffirming all Loan Documents entered into or delivered prior to such date; and
B. As of March 31, 2009, the Borrowers executed and delivered to the Administrative Agent the
All Asset Security Agreement, pursuant to which the Borrowers’ granted to the Administrative Agent,
for the benefit of the Lenders, a security interest in substantially all of the Borrowers’ personal
property assets, whether then owned or thereafter acquired, including without limitation, the REIT
Shares; and
X. Xxxxxxxxxx Capital Financing, LLC, a Nevada limited liability company, has agreed to merge
into Huntington Preferred Capital II, Inc., an Ohio corporation, and exchange the REIT Shares
presently held by the Administrative Agent constituting a portion of the Collateral for
4,724.1330831 shares of the Class C Preferred Shares and 154 shares of the common stock of
Huntington Preferred Capital II, Inc., and the Borrowers and the Administrative Agent desire to
maintain the continuity of the Administrative Agent’s Lien in the REIT Shares; and
D. The Borrowers, the Lenders and the Administrative Agent have agreed to amend and modify
certain defined terms in the Credit Agreement and replace Schedule 3 to the All Asset Security
Agreement to accommodate the exchange of all of the Class C preferred shares and common stock of
Huntington Capital Financing, LLC, a Nevada limited liability company, issued to FCAC Subco for
Class C preferred and common shares of Huntington Preferred Capital II, Inc., an Ohio corporation,
upon the terms and subject to the conditions contained herein.
NOW, THEREFORE, in consideration of the mutual covenants, agreements and promises contained
herein, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally
bound, the parties hereto for themselves and their successors and assigns do hereby agree,
represent and warrant as follows:
1. The definitions of “REIT Common Stock,” “REIT Preferred Stock” and
“REIT Shares,” set forth in Section 1.01, “Certain Defined Terms,” of the Credit
Agreement are hereby amended to recite as follows:
“REIT Common Stock” shall mean 154 shares of the common stock of
Huntington Preferred Capital II, Inc., an Ohio corporation.
“REIT Preferred Stock” shall mean 4,724.1330831 shares of the Class
C Preferred Shares of Huntington Preferred Capital II, Inc., an Ohio
corporation.
“REIT Shares” shall mean the REIT Common Stock and the REIT
Preferred Stock of Huntington Preferred Capital, II, Inc. issued to FCAC
Subco in exchange for 4,724.1330831 shares of the Class C Preferred Shares
and seven shares of the common stock of Huntington Capital Financing, LLC
and collaterally assigned to the Administrative Agent pursuant to the Loan
Documents.
2. Schedule 3, “Pledged Collateral,” to the Security Agreement is hereby amended and
replaced with the Schedule 3 attached to this Amendment.
3. Conditions of Effectiveness. This Amendment shall become effective as of the
Amendment Effective Date, upon satisfaction of all of the following conditions precedent:
(a) The Administrative Agent shall have received execution and delivery of, by all
parties signatory thereto, originals, or completion as the case may be, to the satisfaction
of the Lender and its counsel, containing such information requested by the Administrative
Agent and its counsel and reflecting the absence of any material fact or issues and in all
respect satisfactory to the Lender, each of the following Loan Documents:
(i) Five (5) duly executed originals of this Amendment; and
(b) The representations contained in the immediately following paragraph shall be true
and accurate.
4. Representations and Warranties. Each Borrower represents and warrants to the
Administrative Agent and each Lender as follows: (a) the execution, delivery and performance by
such Borrower of this Amendment and each other Loan Document have been duly authorized by all
requisite corporate or organizational action on the part of such Borrower and will not violate any
Requirement of Law applicable to each Borrower; and (b) this Amendment has been duly executed and
delivered by each Borrower, and each of this Amendment, the Credit Agreement and each other Loan
Document as amended hereby constitutes the legal, valid and binding obligation of each Borrower,
enforceable against such Borrower in accordance with the terms thereof.
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5. Ratification and Reaffirmation. Each Borrower agrees that the Liens and security
interests granted to the Administrative Agent with respect to the Obligations as security for all
obligations and liabilities of such Borrower under the Credit Agreement, each Application and
Agreement for Letter of Credit and the Revolving Loan Note are valid and binding and are hereby
ratified and confirmed in all respects.
6. Reference to and Effect on the Loan Documents. (a) Upon the effectiveness of this
Amendment, each reference in the Credit Agreement to “Amended and Restated Credit Agreement,”
“Credit Agreement,” “Agreement,” the prefix “herein,” “hereof,” or words of similar import, and
each reference in the Loan Documents to the Credit Agreement, shall mean and be a reference to the
Credit Agreement as amended hereby. (b) Except to the extent amended or modified hereby, all of
the representations, warranties, terms, covenants and conditions of the Credit Agreement and the
other Loan Documents shall remain as written originally and in full force and effect in accordance
with their respective terms and are hereby ratified and confirmed, and nothing herein shall affect,
modify, limit or impair any of the rights and powers that the Administrative Agent may have
hereunder or thereunder. Nothing in this Amendment shall constitute a novation. The amendments
set forth herein shall be limited precisely as provided for herein, and shall not be deemed to be a
waiver of, amendment of, consent to or modification of any of the Administrative Agent’s or any
Lender’s rights under, or of any other term or provisions of, the Credit Agreement or any other
Loan Document, or of any term or provision of any other instrument referred to therein or herein or
of any transaction or future action on the part of any Borrower that would require the consent of
the Lender.
7. No Waiver. Nothing in this Amendment shall be construed to waive, modify, or cure
any default or Event of Default that exists or may exist under the Credit Agreement or any other
Loan Document.
8. Waiver of Right to Trial by Jury. EACH PARTY TO THIS AMENDMENT HEREBY EXPRESSLY
WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION (1) ARISING UNDER
THIS AMENDMENT OR ANY LOAN DOCUMENT, OR (2) IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO
THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO THIS AMENDMENT OR ANY OTHER LOAN
DOCUMENT, OR THE TRANSACTIONS RELATED HERETO OR THERETO, IN EACH CASE WHETHER NOW EXISTING OR
HEREAFTER ARISING, AND WHETHER SOUNDING IN CONTRACT OR TORT OR OTHERWISE, AND EACH PARTY HEREBY
AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY
COURT TRIAL WITHOUT A JURY, AND THAT ANY PARTY TO THIS AMENDMENT MAY FILE AN ORIGINAL COUNTERPART
OR A COPY OF THIS SECTION WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE PARTIES HERETO
TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY.
9. Counterparts. This Amendment may be executed in any number of counterparts and by
different parties hereto in separate counterparts, each of which when so executed and delivered
shall be an original, and all of which together will constitute one and the same instrument.
Receipt by the Administrative Agent of a facsimile copy of an executed signature page hereof will
constitute receipt by the Administrative Agent of an executed counterpart of this Amendment.
-3-
10. Governing Law. This Amendment and the rights and obligations of the parties
hereto shall be governed by, and construed and interpreted in accordance with, the laws of the
State of Ohio.
11. Headings. Section headings in this Amendment are included herein for convenience
of reference only and will not constitute a part of this Amendment for any other purpose.
12. Patriot Act Notice. The Administrative Agent hereby notifies each Borrower that
pursuant to the requirements of the USA Patriot Act (Title III of Pub.L.10756 (signed into law
October 26, 2001)) (the “Act”), it is required to obtain, verify and record information that
identifies each Borrower, which information includes the name and address of each Borrower and
other information that will allow the Administrative Agent to identify each Borrower in accordance
with the Act.
[Signature Pages Follow.]
-4-
IN WITNESS WHEREOF, the Borrowers, the Administrative Agent and the Lenders have hereunto set
their hands as of the date first set forth above.
| BORROWERS: FRANKLIN CREDIT ASSET CORPORATION |
||||
| By: | /s/ Xxxxxx X. Xxxx | |||
| Name: | Xxxxxx X. Xxxx | |||
| Title: | President | |||
| TRIBECA LENDING CORP. |
||||
| By: | /s/ Xxxxxx X. Xxxx | |||
| Name: | Xxxxxx X. Xxxx | |||
| Title: | President | |||
| FRANKLIN ASSET, LLC |
||||
| By: | /s/ Xxxxxx X. Xxxx | |||
| Name: | Xxxxxx X. Xxxx | |||
| Title: | President | |||
| EACH BORROWER LISTED ON SCHEDULE 1 ATTACHED HERETO |
||||
| By: | /s/ Xxxxxx X. Xxxx | |||
| Name: | Xxxxxx X. Xxxx | |||
| Title: | as President of, and on behalf of, each Borrower listed on Schedule 1 attached to this Amendment. |
|||
Signature Page to Amendment No. 1 to Amended and Restated Credit Agreement
| ADMINISTRATIVE AGENT: THE HUNTINGTON NATIONAL BANK |
||||
| By: | /s/ Xxxx X. Xxxxxxxx | |||
| Name: | Xxxx X. Xxxxxxxx | |||
| Title: | Authorized Representative | |||
| LENDERS: THE HUNTINGTON NATIONAL BANK, as Lender |
||||
| By: | /s/ Xxxx X. Xxxxxxxx | |||
| Name: | Xxxx X. Xxxxxxxx | |||
| Title: | Authorized Representative | |||
| HUNTINGTON FINANCE LLC, as Lender |
||||
| By: | /s/ Xxxxxx X. Xxxxxx | |||
| Name: | Xxxxxx X. Xxxxxx | |||
| Title: | President | |||
Signature Page to Amendment No. 1 to Amended and Restated Credit Agreement
| M & I XXXXXXXX & XXXXXX BANK, as Lender |
||||
| By: | /s/ Xxxxx X. Xxxxxxxxx | |||
| Name: | Xxxxx X. Xxxxxxxxx | |||
| Title: | S.V.P. | |||
| By: | ||||
| Name: | ||||
| Title: | ||||
| BOS (USA) INC., as Lender |
||||
| By: | Bank of Scotland plc, as Administrative Agent | |||
| By: | /s/ Xxxxx X. Xxxxxxxx | |||
| Name: | Xxxxx X. Xxxxxxxx | |||
| Title: | Assistant Vice President | |||
Signature Page to Amendment No. 1 to Amended and Restated Credit Agreement
REAFFIRMATION AND CONSENT OF GUARANTORS
Each of the undersigned (each, a “Guarantor” and collectively, the “Guarantors”), being a
limited guarantor of the indebtedness of FRANKLIN CREDIT ASSET CORPORATION, a Delaware Corporation
(“Franklin Asset”), TRIBECA LENDING CORP., a New York corporation (“Tribeca”), Franklin Asset, LLC,
a Delaware limited liability company (“FCAC Subco”) and the other BORROWERS listed on Schedule 1 to
the above Amendment No. 1 to Amended and Restated Credit Agreement (together with Franklin Asset,
Tribeca and FCAC Subco, each, a “Borrower” and collectively, the “Borrowers”) to THE FINANCIAL
INSTITUTIONS PARTY HERETO (each, a “Lender” and collectively, the “Lenders”), and THE HUNTINGTON
NATIONAL BANK, a national banking association, as administrative agent for the Lenders, (in such
capacity, together with its successors and assigns in such capacity, the “Administrative Agent”)
pursuant to one or more certain guaranty agreements in favor of the Administrative Agent, hereby
(i) consents to be bound by the terms, conditions and execution of the above Amendment No. 1 to
Amended and Restated Credit Agreement, (ii) reaffirms each warranty, representation, covenant, and
agreement made by such Guarantor in one or more guaranty agreements executed and delivered to the
Administrative Agent, and (iii) agrees that such Guarantor’s rights and obligations shall be
continuing as provided in each such guaranty agreements and that said guaranty agreements shall
remain as written originally and continue in full force and effect in all respects, in each case
with respect to the Obligations under the Credit Agreement, as amended by Amendment No. 1 to
Amended and Restated Credit Agreement.
| GUARANTORS: FRANKLIN CREDIT HOLDING CORPORATION |
||||
| By: | /s/ Xxxxxx X. Xxxx | |||
| Name: | Xxxxxx X. Xxxx | |||
| Title: | President | |||
| FRANKLIN CREDIT MANAGEMENT CORPORATION |
||||
| By: | /s/ Xxxxxx X. Xxxx | |||
| Name: | Xxxxxx X. Xxxx | |||
| Title: | President | |||
Signature Page to Amendment No. 1 to Amended and Restated Credit Agreement
SCHEDULE 1
XXXX 0000 C CORP.
XXXX 0000 D CORP.
XXXX 0000 A CORP.
XXXX 0000 B CORP (fka Fort 100 Corporation)
XXXX 0000 C CORP.
XXXX 0000 D CORP.
XXXX 0000 E CORP.
XXXX 0000 F CORP.
XXXX 0000 A CORP.
XXXX 0000 B CORP.
XXXX 0000 C CORP.
XXXX 0000 D CORP.
XXXX 0000 E CORP.
XXXX 0000 F CORP.
XXXX 0000 G CORP.
XXXX 0000 H CORP.
XXXX 0000 A CORP.
XXXX 0000 B CORP.
XXXX 0000 C CORP.
XXXX 0000 D CORP.
XXXX 0000 E CORP.
XXXX 0000 F CORP.
XXXX 0000 G CORP.
XXXX 0000 H CORP.
XXXX 0000 I CORP.
XXXX 0000 A CORP (fka XXXX 0000 J Corp.)
XXXX 0000 B CORP. (fka XXXX 0000 K Corp.)
XXXX 0000 C CORP.
XXXX 0000 D CORP.
XXXX 0000 E CORP.
XXXX 0000 F CORP.
XXXX 0000 G CORP.
XXXX 0000 H CORP.
XXXX 0000 I CORP.
XXXX 0000 J CORP.
XXXX 0000 K CORP.
XXXX 0000 L CORP.
XXXX 0000 M CORP.
XXXX 0000 A CORP.
XXXX 0000 B CORP.
XXXX 0000 C CORP.
XXXX 0000 D CORP.
XXXX 0000 D CORP.
XXXX 0000 A CORP.
XXXX 0000 B CORP (fka Fort 100 Corporation)
XXXX 0000 C CORP.
XXXX 0000 D CORP.
XXXX 0000 E CORP.
XXXX 0000 F CORP.
XXXX 0000 A CORP.
XXXX 0000 B CORP.
XXXX 0000 C CORP.
XXXX 0000 D CORP.
XXXX 0000 E CORP.
XXXX 0000 F CORP.
XXXX 0000 G CORP.
XXXX 0000 H CORP.
XXXX 0000 A CORP.
XXXX 0000 B CORP.
XXXX 0000 C CORP.
XXXX 0000 D CORP.
XXXX 0000 E CORP.
XXXX 0000 F CORP.
XXXX 0000 G CORP.
XXXX 0000 H CORP.
XXXX 0000 I CORP.
XXXX 0000 A CORP (fka XXXX 0000 J Corp.)
XXXX 0000 B CORP. (fka XXXX 0000 K Corp.)
XXXX 0000 C CORP.
XXXX 0000 D CORP.
XXXX 0000 E CORP.
XXXX 0000 F CORP.
XXXX 0000 G CORP.
XXXX 0000 H CORP.
XXXX 0000 I CORP.
XXXX 0000 J CORP.
XXXX 0000 K CORP.
XXXX 0000 L CORP.
XXXX 0000 M CORP.
XXXX 0000 A CORP.
XXXX 0000 B CORP.
XXXX 0000 C CORP.
XXXX 0000 D CORP.
XXXX 0000 E CORP.
XXXX 0000 F CORP.
XXXX 0000 G CORP.
XXXX 0000 H CORP.
XXXX 0000 I CORP.
FCMC B-ONE 2004 A CORP.
FCMC B-ONE 2004 B CORP.
FCMC B-ONE 2004 C CORP.
FCMC B-ONE 2004 D CORP.
FCMC B-ONE 2004 E CORP.
FCMC B-ONE 2004 F CORP.
FLOW 2000A CORP.
FLOW 2000B CORP.
FLOW 2000D CORP.
FLOW 2000E CORP.
FLOW 2000F CORP.
FLOW 2001 A CORP.
FLOW 2001 B CORPORATION
FLOW 2001 C CORPORATION
FLOW 2001 D CORP (fka Fort 100 B Corporation)
FLOW 2001 E CORPORATION
FLOW 2001 F CORPORATION
FLOW 2001 G CORPORATION
FLOW 2001 H CORP.
FLOW 2001 I CORP.
FLOW 2001 J CORP.
FLOW 2001 K CORP
FLOW 2001 L CORP.
FLOW 2002 A CORP.
FLOW 2002 B CORP.
FLOW 2002 C CORP.
FLOW 2002 D CORP.
FLOW 2002 E CORP.
FLOW 2002 F CORP.
FLOW 2002 G CORP.
FLOW 2002 H CORP.
FLOW 2002 I CORP.
FLOW 2002 J CORP.
FLOW 2002 K CORP.
FLOW 2002 L CORP.
FLOW 2003 A CORP.
FLOW 2003 B CORP.
FLOW 2003 C CORP.
FLOW 2003 D CORP.
XXXX 0000 F CORP.
XXXX 0000 G CORP.
XXXX 0000 H CORP.
XXXX 0000 I CORP.
FCMC B-ONE 2004 A CORP.
FCMC B-ONE 2004 B CORP.
FCMC B-ONE 2004 C CORP.
FCMC B-ONE 2004 D CORP.
FCMC B-ONE 2004 E CORP.
FCMC B-ONE 2004 F CORP.
FLOW 2000A CORP.
FLOW 2000B CORP.
FLOW 2000D CORP.
FLOW 2000E CORP.
FLOW 2000F CORP.
FLOW 2001 A CORP.
FLOW 2001 B CORPORATION
FLOW 2001 C CORPORATION
FLOW 2001 D CORP (fka Fort 100 B Corporation)
FLOW 2001 E CORPORATION
FLOW 2001 F CORPORATION
FLOW 2001 G CORPORATION
FLOW 2001 H CORP.
FLOW 2001 I CORP.
FLOW 2001 J CORP.
FLOW 2001 K CORP
FLOW 2001 L CORP.
FLOW 2002 A CORP.
FLOW 2002 B CORP.
FLOW 2002 C CORP.
FLOW 2002 D CORP.
FLOW 2002 E CORP.
FLOW 2002 F CORP.
FLOW 2002 G CORP.
FLOW 2002 H CORP.
FLOW 2002 I CORP.
FLOW 2002 J CORP.
FLOW 2002 K CORP.
FLOW 2002 L CORP.
FLOW 2003 A CORP.
FLOW 2003 B CORP.
FLOW 2003 C CORP.
FLOW 2003 D CORP.
FLOW 2003 E CORP.
FLOW 2003 F CORP.
FLOW 2003 G CORP.
FLOW 2003 H CORP.
FLOW 2003 I CORP.
FLOW 2003 J CORP.
FLOW 2003 K CORP.
FLOW 2003 L CORP.
FLOW 2004 A CORP. (fka Flow 2003 M Corp.)
FLOW 2004 B CORP.
FLOW 2004 C CORP.
FLOW 2004 D CORP.
FLOW 2004 E CORP.
FLOW 2004 F CORP.
FLOW 2004 G CORP.
FLOW 2004 H CORP.
FLOW 2004 I CORP.
FLOW 2005 A CORP.
FLOW 2005 B CORP.
FLOW 2005 C CORP.
FLOW 2005 D CORP.
FLOW 2005 E CORP.
FLOW 2005 F CORP
FLOW 2005 G CORP
FLOW 2005 H CORP
FLOW 2005 I CORP
FLOW 2005 J CORP
FLOW 99-92 CORP.
CAPE 77 CORP.
COAST 56 CORPORATION
EMERGE 64 CORPORATION
FIRSTGOLD 69 CORP.
BEACH FUNDING CORP.
COAST 96 CORP.
EMOD 65 CORP.
GREENWICH FIRST CORPORATION
GREENWICH FUNDING CORPORATION
GREENWICH MANAGEMENT CORPORATION
XXXXXXXX FINANCIAL CORPORATION
PANCAL 82 CORP.
PENN 100B CORP.
PENN 000 XXXX.
XXXXX 00 XXXX.
XXXXXX 87 CORP.
FLOW 2003 F CORP.
FLOW 2003 G CORP.
FLOW 2003 H CORP.
FLOW 2003 I CORP.
FLOW 2003 J CORP.
FLOW 2003 K CORP.
FLOW 2003 L CORP.
FLOW 2004 A CORP. (fka Flow 2003 M Corp.)
FLOW 2004 B CORP.
FLOW 2004 C CORP.
FLOW 2004 D CORP.
FLOW 2004 E CORP.
FLOW 2004 F CORP.
FLOW 2004 G CORP.
FLOW 2004 H CORP.
FLOW 2004 I CORP.
FLOW 2005 A CORP.
FLOW 2005 B CORP.
FLOW 2005 C CORP.
FLOW 2005 D CORP.
FLOW 2005 E CORP.
FLOW 2005 F CORP
FLOW 2005 G CORP
FLOW 2005 H CORP
FLOW 2005 I CORP
FLOW 2005 J CORP
FLOW 99-92 CORP.
CAPE 77 CORP.
COAST 56 CORPORATION
EMERGE 64 CORPORATION
FIRSTGOLD 69 CORP.
BEACH FUNDING CORP.
COAST 96 CORP.
EMOD 65 CORP.
GREENWICH FIRST CORPORATION
GREENWICH FUNDING CORPORATION
GREENWICH MANAGEMENT CORPORATION
XXXXXXXX FINANCIAL CORPORATION
PANCAL 82 CORP.
PENN 100B CORP.
PENN 000 XXXX.
XXXXX 00 XXXX.
XXXXXX 87 CORP.
XXXX 0000 J CORP.
XXXX 0000 K CORP.
XXXX 0000 L CORP.
XXXX 0000 M CORP.
XXXX 0000 N CORP.
XXXX 0000 O CORP.
XXXX 0000 P CORP.
XXXX 0000 Q CORP.
XXXX 0000 R CORP.
XXXX 0000 S CORP.
XXXX 0000 A CORP.
XXXX 0000 B CORP.
XXXX 0000 C CORP.
XXXX 0000 D CORP.
XXXX 0000 E CORP.
XXXX 0000 F CORP.
XXXX 0000 G CORP.
XXXX 0000 H CORP.
XXXX 0000 I CORP.
XXXX 0000 J CORP.
XXXX 0000 K CORP.
XXXX 0000 L CORP.
XXXX 0000 M CORP.
XXXX 0000 N CORP.
XXXX 0000 O CORP.
XXXX 0000 P CORP.
XXXX 0000 Q CORP.
XXXX 0000 R CORP.
XXXX 0000 S CORP.
XXXX 0000 A CORP.
XXXX 0000 B CORP.
XXXX 0000 C CORP.
XXXX 0000 D CORP.
XXXX 0000 E CORP.
XXXX 0000 F CORP.
XXXX 0000 G CORP.
XXXX 0000 H CORP.
XXXX 0000 I CORP.
XXXX 0000 J CORP.
XXXX 0000 L CORP.
FCMC 2006 N CORP.
XXXX 0000 O CORP.
XXXX 0000 P CORP.
XXXX 0000 Q CORP.
XXXX 0000 R CORP.
XXXX 0000 S CORP.
XXXX 0000 T CORP.
XXXX 0000 U CORP.
XXXX 0000 V CORP.
FCMC 2006 W CORP.
XXXX 0000 X CORP.
XXXX 0000 Y CORP.
XXXX 0000 Z CORP.
XXXX 0000 A CORP.
XXXX 0000 B CORP.
XXXX 0000 C CORP.
XXXX 0000 D CORP.
XXXX 0000 E CORP.
XXXX 0000 F CORP.
XXXX 0000 G CORP.
XXXX 0000 H CORP.
XXXX 0000 O CORP.
XXXX 0000 P CORP.
XXXX 0000 Q CORP.
XXXX 0000 R CORP.
XXXX 0000 S CORP.
XXXX 0000 T CORP.
XXXX 0000 U CORP.
XXXX 0000 V CORP.
FCMC 2006 W CORP.
XXXX 0000 X CORP.
XXXX 0000 Y CORP.
XXXX 0000 Z CORP.
XXXX 0000 A CORP.
XXXX 0000 B CORP.
XXXX 0000 C CORP.
XXXX 0000 D CORP.
XXXX 0000 E CORP.
XXXX 0000 F CORP.
XXXX 0000 G CORP.
XXXX 0000 H CORP.
XXXX 0000 I CORP.
XXXX 0000 J CORP.
XXXX 0000 K CORP.
XXXX 0000 L CORP.
XXXX 0000 M CORP.
XXXX 0000 N CORP
XXXX 0000 O CORP.
XXXX 0000 P CORP.
XXXX 0000 Q CORP.
XXXX 0000 R CORP.
XXXX 0000 S CORP.
XXXX 0000 T CORP.
XXXX 0000 U CORP
XXXX 0000 V CORP.
FCMC 2007 W CORP.
XXXX 0000 X CORP.
XXXX 0000 Y CORP.
XXXX 0000 Z CORP
XXXX 0000 AA CORP.
XXXX 0000 XX CORP.
XXXX 0000 AC CORP.
FLOW 2006 A CORP.
FLOW 2006 B CORP.
FLOW 2006 C CORP.
FLOW 2006 D CORP.
FLOW 2006 E CORP.
XXXX 0000 J CORP.
XXXX 0000 K CORP.
XXXX 0000 L CORP.
XXXX 0000 M CORP.
XXXX 0000 N CORP
XXXX 0000 O CORP.
XXXX 0000 P CORP.
XXXX 0000 Q CORP.
XXXX 0000 R CORP.
XXXX 0000 S CORP.
XXXX 0000 T CORP.
XXXX 0000 U CORP
XXXX 0000 V CORP.
FCMC 2007 W CORP.
XXXX 0000 X CORP.
XXXX 0000 Y CORP.
XXXX 0000 Z CORP
XXXX 0000 AA CORP.
XXXX 0000 XX CORP.
XXXX 0000 AC CORP.
FLOW 2006 A CORP.
FLOW 2006 B CORP.
FLOW 2006 C CORP.
FLOW 2006 D CORP.
FLOW 2006 E CORP.
FLOW 2006 G CORP.
FLOW 2006 H CORP.
FLOW 2007 A CORP.
FLOW 2007 B CORP
FLOW 2007 C CORP.
FLOW 2007 D CORP.
RONTEX CORPORATION
SIX XXXXXXXX CORPORATION
XXXXXXXX FIRST CORPORATION
XXXXXXXX FINANCIAL ASSOCIATES, INC.
XXXXXXXX FUNDING CORPORATION
RONTEXT 1617 CORPORATION
RONTEX 1617 CORPORATION
JUNIPER CORP.
NEWPORT 50 CORPORATION
SIX XXXXXXXX CORPORATION
XXXXXX MANAGEMENT CORPORATION
FLOW 2006 H CORP.
FLOW 2007 A CORP.
FLOW 2007 B CORP
FLOW 2007 C CORP.
FLOW 2007 D CORP.
RONTEX CORPORATION
SIX XXXXXXXX CORPORATION
XXXXXXXX FIRST CORPORATION
XXXXXXXX FINANCIAL ASSOCIATES, INC.
XXXXXXXX FUNDING CORPORATION
RONTEXT 1617 CORPORATION
RONTEX 1617 CORPORATION
JUNIPER CORP.
NEWPORT 50 CORPORATION
SIX XXXXXXXX CORPORATION
XXXXXX MANAGEMENT CORPORATION
TRIBECA FUNDING CORPORATION
TRIBECA L 2005 CORP.
TRIBECA LII 2005 CORP.
TRIBECA LIII 2005 CORP.
TRIBECA LIV 2005 CORP.
TRIBECA LIX 2006 CORP.
TRIBECA LV 2005 CORP.
TRIBECA LVI 2005 CORP.
TRIBECA LVII 2006 CORP.
TRIBECA LVIII 2006 CORP.
TRIBECA LX 2006 CORP.
TRIBECA LXI 2006 CORP.
TRIBECA LXII 2006 CORP.
TRIBECA LXIII 2006 CORP.
TRIBECA LXIV 2006 CORP.
TRIBECA LXIX 2006 CORP.
TRIBECA LXV 2006 CORP.
TRIBECA LXVI 2006 CORP.
TRIBECA LXVII 2006 CORP.
TRIBECA LXVIII 2006 CORP.
TRIBECA LXX 2006 CORP.
TRIBECA LXXI 2006 CORP.
TRIBECA LXXII 2006 CORP.
TRIBECA LXXIII 2006 CORP.
TRIBECA LXXIV 2006 CORP.
TRIBECA LXXIX 2007 CORP.
TRIBECA LXXV 2006 CORP.
TRIBECA LXXVI 2006 CORP.
TRIBECA LXXVII 2006 CORP.
TRIBECA LXXVIII 2006 CORP.
TRIBECA LXXX 2007 CORP.
TRIBECA LXXXI 2007 CORP.
TRIBECA LXXXII 2007 CORP.
TRIBECA LXXXIII 2007 CORP.
TRIBECA LXXXIV 2007 CORP.
TRIBECA LXXXIX 2007 CORP.
TRIBECA LXXXV 2007 CORP.
TRIBECA LXXXVI 2007 CORP.
TRIBECA LXXXVII 2007 CORP.
TRIBECA LXXXVIII 2007 CORP.
TRIBECA XC 2007 CORP.
TRIBECA XCI 2007 CORP.
TRIBECA XCII 2007 CORP.
TRIBECA LII 2005 CORP.
TRIBECA LIII 2005 CORP.
TRIBECA LIV 2005 CORP.
TRIBECA LIX 2006 CORP.
TRIBECA LV 2005 CORP.
TRIBECA LVI 2005 CORP.
TRIBECA LVII 2006 CORP.
TRIBECA LVIII 2006 CORP.
TRIBECA LX 2006 CORP.
TRIBECA LXI 2006 CORP.
TRIBECA LXII 2006 CORP.
TRIBECA LXIII 2006 CORP.
TRIBECA LXIV 2006 CORP.
TRIBECA LXIX 2006 CORP.
TRIBECA LXV 2006 CORP.
TRIBECA LXVI 2006 CORP.
TRIBECA LXVII 2006 CORP.
TRIBECA LXVIII 2006 CORP.
TRIBECA LXX 2006 CORP.
TRIBECA LXXI 2006 CORP.
TRIBECA LXXII 2006 CORP.
TRIBECA LXXIII 2006 CORP.
TRIBECA LXXIV 2006 CORP.
TRIBECA LXXIX 2007 CORP.
TRIBECA LXXV 2006 CORP.
TRIBECA LXXVI 2006 CORP.
TRIBECA LXXVII 2006 CORP.
TRIBECA LXXVIII 2006 CORP.
TRIBECA LXXX 2007 CORP.
TRIBECA LXXXI 2007 CORP.
TRIBECA LXXXII 2007 CORP.
TRIBECA LXXXIII 2007 CORP.
TRIBECA LXXXIV 2007 CORP.
TRIBECA LXXXIX 2007 CORP.
TRIBECA LXXXV 2007 CORP.
TRIBECA LXXXVI 2007 CORP.
TRIBECA LXXXVII 2007 CORP.
TRIBECA LXXXVIII 2007 CORP.
TRIBECA XC 2007 CORP.
TRIBECA XCI 2007 CORP.
TRIBECA XCII 2007 CORP.
TRIBECA XCIII 2007 CORP.
TRIBECA XCIV 2007 CORP.
TRIBECA XCV 2007 CORP.
TRIBECA XIX 2004 CORP.
TRIBECA XV 2004 CORP.
TRIBECA XVII 2004 CORP.
TRIBECA XVIII 2004 CORP.
TRIBECA XX 2004 CORP.
TRIBECA XXI 2004 CORP.
TRIBECA XXII 2004 CORP.
TRIBECA XXIII 2004 CORP.
TRIBECA XXIV 2004 CORP.
TRIBECA XXIX 2005 CORP.
TRIBECA XXV 2004 CORP.
TRIBECA XXVI 2004 CORP.
TRIBECA XXVII 2004 CORP.
TRIBECA XXVIII 2004 CORP.
TRIBECA XXX 2005 CORP.
TRIBECA XXXI 2005 CORP.
TRIBECA XXXII 2005 CORP.
TRIBECA XXXIII 2005 CORP.
TRIBECA XXXIV 2005 CORP.
TRIBECA XXXIX 2005 CORP.
TRIBECA XXXV 2005 CORP.
TRIBECA XXXVI 2005 CORP.
TRIBECA XXXVII 2005 CORP.
TRIBECA XXXVIII 2005 CORP.
TRIBECA XXXX 2005 CORP.
TRIBECA XXXXI 2005 CORP.
TRIBECA XXXXII 2005 CORP.
TRIBECA XXXXIII 2005 CORP.
TRIBECA XXXXIV 2005 CORP.
TRIBECA XXXXIX 2005 CORP.
TRIBECA XXXXV 2005 CORP.
TRIBECA XXXXVI 2005 CORP.
TRIBECA XXXXVII 2005 CORP.
TRIBECA XXXXVIII 2005 CORP.
TRIBECA LI 2005 CORP.
TRIBECA XCIV 2007 CORP.
TRIBECA XCV 2007 CORP.
TRIBECA XIX 2004 CORP.
TRIBECA XV 2004 CORP.
TRIBECA XVII 2004 CORP.
TRIBECA XVIII 2004 CORP.
TRIBECA XX 2004 CORP.
TRIBECA XXI 2004 CORP.
TRIBECA XXII 2004 CORP.
TRIBECA XXIII 2004 CORP.
TRIBECA XXIV 2004 CORP.
TRIBECA XXIX 2005 CORP.
TRIBECA XXV 2004 CORP.
TRIBECA XXVI 2004 CORP.
TRIBECA XXVII 2004 CORP.
TRIBECA XXVIII 2004 CORP.
TRIBECA XXX 2005 CORP.
TRIBECA XXXI 2005 CORP.
TRIBECA XXXII 2005 CORP.
TRIBECA XXXIII 2005 CORP.
TRIBECA XXXIV 2005 CORP.
TRIBECA XXXIX 2005 CORP.
TRIBECA XXXV 2005 CORP.
TRIBECA XXXVI 2005 CORP.
TRIBECA XXXVII 2005 CORP.
TRIBECA XXXVIII 2005 CORP.
TRIBECA XXXX 2005 CORP.
TRIBECA XXXXI 2005 CORP.
TRIBECA XXXXII 2005 CORP.
TRIBECA XXXXIII 2005 CORP.
TRIBECA XXXXIV 2005 CORP.
TRIBECA XXXXIX 2005 CORP.
TRIBECA XXXXV 2005 CORP.
TRIBECA XXXXVI 2005 CORP.
TRIBECA XXXXVII 2005 CORP.
TRIBECA XXXXVIII 2005 CORP.
TRIBECA LI 2005 CORP.
TRIBECA XVI 2004 CORP.
FLOW 2007 E CORP
EMGOLD 57 CORP.
FCMC CORPORATE REFINANCE
FLOW 2007 E CORP
EMGOLD 57 CORP.
FCMC CORPORATE REFINANCE
Schedule 3 to Amended and Restated Security Agreement
Pledged Collateral
FRANKLIN CREDIT ASSET CORPORATION
| • | 100% of issued and outstanding equity of all classes of stock of subsidiaries of
Franklin Credit Asset Corporation listed on Schedule 2. |
TRIBECA LENDING CORP.
| • | 100% of issued and outstanding equity of all classes of stock of subsidiaries of
Tribeca Lending Corp. listed on Schedule 2. |
FRANKLIN ASSET, LLC
| • | Certificate No. 5 for 154 shares of the common stock in Huntington Preferred Capital
II, Inc., an Ohio corporation (REIT Common Shares) |
||
| • | Certificate No. C-1 for 4,724.1330831 Shares of Class C Preferred Stock in Huntington
Preferred Capital II, Inc., an Ohio corporation (REIT Preferred Shares) |
||
| • | CLASS A Trust Certificate No. 1 of Franklin Mortgage Asset Trust 2009-A (Mortgage Loan
Certificate) |
||
| • | CLASS A Trust Certificate No. 2 of Franklin Mortgage Asset Trust 2009-A (Mortgage Loan
Certificate) |
||
| • | CLASS REO Trust Certificate No. 1 of Franklin Mortgage Asset Trust 2009-A |
||
| • | CLASS REO Trust Certificate No. 2 of Franklin Mortgage Asset Trust 2009-A |
FRANKLIN CREDIT ASSET CORPORATION, TRIBECA LENDING CORP. AND EACH OF THEIR RESPECTIVE SUBSIDIARIES:
| • | 100% of issued and outstanding equity of Franklin Asset, LLC. |
