Agreement) is made as of ong PENNYMAC LOAN SERVICES, LLC, as lender (the Financial) and PENNYMAC HOLDINGS, LLC, as borrower (the Debtor).

WHEREAS, in order to finance Portfolio Excess Spread (as defined below) owned by Borrower from time to time, Borrower has requested and Lender has made and will make available to Borrower a revolving credit facility in an amount not to exceed the Maximum Loan Amount (the Studio). Mortgage Progress and collectively, the Loan) will be used by Borrower to finance Portfolio Excess Spread (as defined below);

Now, Ergo, from inside the attention of your own mutual preparations established here, or any other good and you will valuable believe, brand new receipt and sufficiency from which is actually hereby recognized, Lender and Borrower hereby agree the following.

For every improve made by Lender to Debtor pursuant compared to that Arrangement (for every single, good

Acknowledgement Contract means with respect to Agency Servicing Rights, an acknowledgement agreement in the form prescribed by Fannie Mae, Freddie Mac or Ginnie Mae, as applicable to be executed by Lender and such Agency as a condition to the Lender’s participating Fannie Mae, Freddie Mac or Ginnie Mae (as the case may be) Servicing Rights to the Borrower and otherwise acceptable to Lender in its sole discretion.

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Operate of Insolvency means, with respect to any Person or its s, (i) the filing of a petition, commencing, or authorizing the commencement of any case or proceeding, or the voluntary joining of any case or proceeding under any bankruptcy, insolvency, reorganization, liquidation, dissolution or similar law relating to the protection of creditors, or suffering any such petition or proceeding to be commenced by another which is consented to, not timely contested or results in entry of an http://paydayloanalabama.com/hurtsboro/ order for relief; (ii) the seeking of the appointment of a receiver, trustee, custodian or similar official for such party or an or any substantial part of the property of either; (iii) the appointment of a receiver, conservator, or manager for such party or an by any governmental agency or authority having the jurisdiction to do so; (iv) the making or offering by such party or an of a composition with its creditors or a general assignment for the benefit of creditors; (v) the admission by such party or an of such party of its inability to pay its debts or discharge its obligations as they become due or mature; or (vi) that any governmental authority or agency or any person, agency or entity acting or purporting to act under governmental authority shall have taken any action to condemn, seize or appropriate, or to assume custody or control of, all or any substantial part of the property of such party or of any of its s, or shall have taken any action to displace the management of such party or of any of its s or to curtail its authority in the conduct of the business of such party or of any of its s.

Get better Big date means, subject to the satisfaction of the conditions precedent set forth in Article V hereof, the date on which a Loan Advance is made by Lender pursuant to Section 2.02.

means, with respect to any Person, any affiliate of such Person, as such term is defined in the Bankruptcy Code; offered, yet not, that in respect of Borrower the term shall include only Private National Mortgage Acceptance Company, LLC and its wholly owned subsidiaries and in respect of Lender the term shall include only PennyMac Mortgage Investment Trust and its wholly owned subsidiaries.