AMENDMENT NUMBER TEN to the AMENDED AND RESTATED NOTE PURCHASE AGREEMENT, dated as of November 25, 2003 among OPTION ONE OWNER TRUST 2001-2, OPTION ONE LOAN WAREHOUSE CORPORATION and BANK OF AMERICA, N.A.
Exhibit
10.9
AMENDMENT NUMBER TEN
to the
AMENDED AND RESTATED NOTE PURCHASE AGREEMENT,
dated as of November 25, 2003
among
OPTION ONE OWNER TRUST 2001-2,
OPTION ONE LOAN WAREHOUSE CORPORATION
and
BANK OF AMERICA, N.A.
This AMENDMENT NUMBER TEN (this “Amendment”) is made and is effective as of this
26th day of October, 2007 (the “Effective Date”), among Option One Owner Trust 2001-2
(the “Issuer”), Option One Loan Warehouse LLC, as successor-by-conversion to Option One Loan
Warehouse Corporation (the “Depositor”) and Bank of America, N.A. (the “Purchaser”) to the Amended
and Restated Note Purchase Agreement, dated as of November 25, 2003, as amended (the “Note Purchase
Agreement”), among the Issuer, the Depositor and the Purchaser.
RECITALS
WHEREAS, the Issuer has requested that the Purchaser agree to amend the Note Purchase
Agreement to reduce the Maximum Note Principal Balance from $2,252,000,000 to $750,000,000, subject
to certain terms and conditions and the Purchaser has agreed to make such amendments, subject to
the terms and conditions of this Amendment.
NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, and the mutual covenants herein contained, the parties hereto hereby agree as
follows:
SECTION 1. Defined Terms. Any capitalized terms used but not otherwise defined herein shall
have the respective meanings set forth in the Note Purchase Agreement.
SECTION 2. Amendment. As of the Effective Date, Section 1.01 (Certain Defined Terms) of the
Note Purchase Agreement shall be amended by deleting the definition of “Maximum Note Principal
Balance” in its entirety and replacing it with the following:
“Maximum Note Principal Balance” means $750,000,000 less any reductions pursuant to
Section 2.06 of the Sale and Servicing Agreement..
SECTION 3. Representations. To induce the Purchaser to execute and deliver this Amendment,
each of the Issuer and the Depositor hereby represents to the Purchaser that as of the date hereof,
after giving effect to this Amendment, (a) all of its respective representations and warranties in
the Note Purchase Agreement and the other
Basic Documents are true and correct, and (b) it is otherwise in full compliance with all of the
terms and conditions of the Note Purchase Agreement except and to the extent explicitly waived in a
waiver letter executed by the parties hereto prior to the date hereof.
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SECTION 4. Fees and Expenses. The Issuer and the Depositor jointly and severally covenant to
pay as and when billed by the Purchaser all of the reasonable out-of-pocket costs and expenses
incurred in connection with the transactions contemplated hereby and in the other Basic Documents
including, without limitation, (i) all reasonable fees, disbursements and expenses of counsel to
the Purchaser, (ii) all reasonable fees and expenses of the Indenture Trustee and Owner Trustee and
their counsel and (iii) all reasonable fees and expenses of the Custodian and its counsel.
SECTION 5. Limited Effect. Except as expressly amended and modified by this Amendment, the
Note Purchase Agreement shall continue in full force and effect in accordance with its terms.
Reference to this Amendment need not be made in the Note Purchase Agreement or any other instrument
or document executed in connection therewith, or in any certificate, letter or communication issued
or made pursuant to, or with respect to, the Note Purchase Agreement, any reference in any of such
items to the Note Purchase Agreement being sufficient to refer to the Note Purchase Agreement as
amended hereby.
SECTION 6. GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO THE CONFLICT OF LAWS DOCTRINE APPLIED IN
SUCH STATE.
SECTION 7. Counterparts. This Amendment may be executed by each of the parties hereto in any
number of separate counterparts, each of which when so executed shall be an original and all of
which taken together shall constitute one and the same instrument.
SECTION 8. Limitation on Liability. It is expressly understood and agreed by the parties
hereto that (a) this Amendment is executed and delivered by Wilmington Trust Company, not
individually or personally, but solely as Owner Trustee of Option One Owner Trust 2001-2 in the
exercise of the powers and authority conferred and vested in it, (b) each of the representations,
undertakings and agreements herein made on the part of the Issuer is made and intended not as
personal representations, undertakings and agreements by Wilmington Trust Company but is made and
intended for the purpose for binding only the Issuer, (c) nothing herein contained shall be
construed as creating any liability on Wilmington Trust Company, individually or personally, to
perform any covenant either expressed or implied contained herein, all such liability, if any,
being expressly waived by the parties hereto and by any Person claiming by, through or under the
parties hereto and (d) under no circumstances shall Wilmington Trust Company be personally liable
for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or
failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer
under this Amendment or any other related document.
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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed and delivered
by their duly authorized officers as of the day and year first above written.
| OPTION ONE OWNER TRUST 2001-2 | ||||||
| By: | Wilmington Trust Company, not in its | |||||
| individual capacity but solely as owner trustee | ||||||
| By: | /s/ Reseline X. Xxxxx | |||||
| Name: | Reseline X. Xxxxx | |||||
| Title: | Vice President | |||||
| OPTION ONE LOAN WAREHOUSE LLC | ||||||
| By: | /s/ Xxxxxxx X. Xxxxxxx | |||||
| Name: | Xxxxxxx X. Xxxxxxx | |||||
| Title: | Assistant Secretary | |||||
| BANK OF AMERICA, N.A, | ||||||
| By: | /s/ Xxxxxxx Xxxx | |||||
| Name: | Xxxxxxx Xxxx | |||||
| Title: | Principal | |||||
[Signature Page
to Amendment Ten to the Amended and Restated Note Purchase Agreement]
