AMENDMENT TO TERM LOAN AGREEMENT
AMENDMENT TO TERM LOAN AGREEMENT
February 3, 0000
Xxx Xxxxx Commercial Mortgage LLC.
0000 Xxxxxxxx Xxxxxx
Xx. Xxxx, XX 00000
Ladies and Gentlemen:
This is to confirm the agreement of Oak Grove Commercial Mortgage, LLC (“Lender”) and MMA Financial Holdings, Inc. (“Borrower”) to amend the Term Loan Agreement dated as of December 18, 2008 between Borrower and Lender (the “Agreement”) as follows:
1. Section 2.1(b) of the Agreement is deleted and replaced with the following:
“(b) Subsequent Funding of Term Note. The Lender agrees, subject to the terms and conditions of this Agreement, and subject to the satisfaction of all the conditions in Section 3.2 of this Agreement, to make an additional advance to the Borrower on a date not later than March 31, 2009 specified by the Borrower on at least two Business Days’ prior notice to the Lender (the “Subsequent Funding Date”) in an original principal amount equal to Five Million Dollars ($5,000,000).
2. Section 3.2(b) of the Agreement is deleted and replaced with the following:
“(b) the Acquisition Agreement (as it may be amended from time to time) is in full force and effect on the Subsequent Funding Date and the transactions contemplated by the Acquisition Agreement have not yet then been consummated;”
3. Section 3.2(c) of the Agreement is deleted.
4 The Address for Notices for Oak Grove Commercial Mortgage, LLC on the signature page of the Agreement is as follows::
“Oak Grove Commercial Mortgage, LLC
0000 Xxxxxxxx Xxxxxx #000
Xx. Xxxx, Xxxxxxxxx 00000
Telecopier: (000) 000-0000
Attention: Xxxxx Xxxxxxxx and Xxxxx Filter”
5. Except as provided in paragraphs 1 to 4 above, the Agreement is in full force and effect and unamended.
Please sign a copy of this document, which, when it is signed by both the Borrower and the Lender, will constitute a binding agreement between them.
Very truly yours,
MMA Financial Holdings, Inc. (Borrower) By: /s/ Xxxxxxx X. Xxxxxxx Name: Xxxxxxx X. Xxxxxxx Title: President and CEO AGREED TO: |
Oak Grove Commercial Mortgage, LLC (Lender) By: /s/ Xxxxx X. Xxxxxxxx Name: Xxxxx X. Xxxxxxxx Title: President and CEO |
The undersigned guarantors acknowledge the foregoing amendment and agree that their liability and obligations as guarantors of the Borrower’s obligations under the Agreement is not in any way limited or impaired by reason of such amendment.
MMA Mortgage Investment Corporation
By: /s/ Xxxxxxx X. Xxxxxxx
Name: Xxxxxxx X. Xxxxxxx
Title: President and CEO
Municipal Mortgage & Equity, LLC
By: /s/ Xxxxxxx X. Xxxxxxx
Name: Xxxxxxx X. Xxxxxxx
Title: President and CEO