AMENDMENT NO. 2 TO MASTER REPURCHASE AGREEMENT
Exhibit 10.22
Amendment No. 2 (this “Amendment”) dated as of February 28, 2012 to the Master
Repurchase Agreement dated as of April 12, 2011 (the “Agreement”) between Xxxxxxxxx & Company,
Inc. (“Party A”) and Provident Mortgage Capital Associates, Inc. (“Party B”).
In consideration of the mutual agreements contained in this Amendment, the parties hereto
hereby agree as follows:
1. Amendments. Sections 4(a)(v) and (vi) of Annex I to the Agreement are hereby amended
and restated in their entirety as follows:
| (v) | Party B’s shareholders’ equity (as determined in accordance with international accounting standards or generally accepted accounting principles in the United States) is less than USD $70,000,000, or | ||
| (vi) | Party B fails to raise at least USD $70,000,000 in its initial public offering of securities. |
2. Representations. Party B represents to Party A that all representations and
warranties with respect to Party B set forth in Paragraph 10 of the Agreement and Section 3 of Annex I to the
Agreement are true and accurate as of the date of this Amendment and that such representations are
deemed to be given or repeated, as the case may be, by Party B on the date of this Amendment.
3. Miscellaneous. Except as expressly set forth herein, all terms and conditions of the
Agreement will continue in full force and effect. This Amendment may be signed in any number of
counterparts with the same effect as if the signatures to each counterpart were upon a single
instrument, and all such counterparts together shall be deemed an original of this Amendment.
IN WITNESS WHEREOF, the parties have executed this Amendment as of the date hereof.
| XXXXXXXXX & COMPANY, INC. | PROVIDENT MORTGAGE CAPITAL ASSOCIATES, INC. | |||||||||||||
By:
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/s/ Xxxx Xxxxxxxx
|
By: | /s/ Xxxxxxxx Xxxxx
|
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| Name: Xxxx Xxxxxxxx | Name: Xxxxxxxx Xxxxx | |||||||||||||
| Title: Global Treasurer | Title: CAO | |||||||||||||
