EXHIBIT 10.31.3
AMENDMENT NUMBER SIX
to the
Amended and Restated Master Loan and Security Agreement
Dated as of March 27, 2000
among
HANOVER CAPITAL MORTGAGE HOLDINGS, INC.
HANOVER CAPITAL PARTNERS LTD
and
GREENWICH CAPITAL FINANCIAL PRODUCTS, INC.
This AMENDMENT NUMBER SIX is made this 27th day of March,
2003, among HANOVER CAPITAL MORTGAGE HOLDINGS, INC. and HANOVER CAPITAL PARTNERS
LTD, each having an address at 000 Xxxxxxxx Xxxxxx, Xxxxxx, Xxx Xxxxxx, 00000
(each, a "Borrower" and collectively, "the Borrowers") and GREENWICH CAPITAL
FINANCIAL PRODUCTS, INC., and having an address at 000 Xxxxxxxxx Xxxx,
Xxxxxxxxx, Xxxxxxxxxxx 00000 (the "Lender"), to the Amended and Restated Master
Loan and Security Agreement, dated as of March 27, 2000, by and between the
Borrowers and the Lender, as amended (the "Agreement"). Capitalized terms used
but not otherwise defined herein shall have the meanings assigned to such terms
in the Agreement.
RECITALS
WHEREAS, the Borrowers have requested that the Lender agree to
amend the Agreement, subject to the terms hereof, to extend the term thereof to
April 27, 2003 and the Lender has agreed to such request.
WHEREAS, as of the date of this Amendment, the Borrowers
represent to the Lender that they are in compliance with all of the
representations and warranties and all of the affirmative and negative covenants
set forth in the Agreement.
NOW THEREFORE, for good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, and of the mutual
covenants herein contained, the parties hereto hereby agree as follows:
SECTION 1. Effective as of March 27, 2003, the definition of
"Termination Date" in Section 1 of the Agreement is hereby amended to read in
its entirety as follows:
"Termination Date" shall mean April 27, 2003 or such
earlier date on which this Loan Agreement shall terminate in
accordance with the provisions hereof or by operation of law.
SECTION 2. Defined Terms. Any terms capitalized but not
otherwise defined herein should have the respective meanings set forth in the
Agreement.
SECTION 3. Limited Effect. Except as amended hereby, the
Agreement shall continue in full force and effect in accordance with its terms.
Reference to this Amendment need not be made in the Agreement or any other
instrument or document
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executed in connection therewith, or in any certificate, letter or communication
issued or made pursuant to, or with respect to, the Agreement, any reference in
any of such items to the Agreement being sufficient to refer to the Agreement as
amended hereby.
SECTION 4. Representations. The Borrowers hereby represent to
the Lender that as of the date hereof, the Borrowers are in full compliance with
all of the terms and conditions of the Agreement and no Default or Event of
Default has occurred and is continuing under the Agreement.
SECTION 5. Governing Law. This Amendment Number Six shall be
construed in accordance with the laws of the State of New York and the
obligations, rights, and remedies of the parties hereunder shall be determined
in accordance with such laws without regard to conflict of laws doctrine applied
in such state (other than Section 5-1401 of the New York General Obligations
Law).
SECTION 6. Counterparts. This Amendment Number Six may be
executed by each of the parties hereto on any number of separate counterparts,
each of which shall be an original and all of which taken together shall
constitute one and the same instrument.
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IN WITNESS WHEREOF, the Borrowers and the Lender have caused
this Amendment Number Six to be executed and delivered by their duly authorized
officers as of the day and year first above written.
HANOVER CAPITAL MORTGAGE
HOLDINGS, INC.
(Borrower)
By:
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Name: Xxxx X. Xxxxxxxx
Title: Chief Executive Officer & President
HANOVER CAPITAL PARTNERS LTD
(Borrower)
By:
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Name: Xxxx X. Xxxxxxxx
Title: Chief Executive Officer
GREENWICH CAPITAL FINANCIAL PRODUCTS. INC.
(Lender)
By:
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Name:
Title:
