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Exhibit 10.1
INSTRUMENT OF JOINDER (ADDITIONAL
CREDITOR
REPRESENTATIVE)
THIS INSTRUMENT OF JOINDER (“
Joinder ”) is executed as of October 8, 2009
by The Bank of New York Mellon Trust Company, N.A., a national
banking association, in its capacity as trustee (the “
Trustee ”) under the Indenture dated as of
September 17, 2009 between Standard Pacific Escrow LLC and the
Trustee (“ Joining Party ”), and delivered to
BANK OF AMERICA, N.A., as Collateral Agent (“ Collateral
Agent ”), pursuant to the Collateral Agent and
Intercreditor Agreement dated as of May 5, 2006 among the
Collateral Agent, Standard Pacific Corp., a Delaware corporation
(the “ Company ”), those Pledgor Subsidiaries of
the Company which are a party thereto and the Creditor
Representatives which are a party thereto (the “
Agreement ”). Terms used but not defined in this
Joinder shall have the meanings defined for those terms in the
Agreement.
RECITALS
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A.
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In connection
with the Agreement, the Company and the Pledgor Subsidiaries
granted liens in the stock (or other equity interests) of certain
Subsidiaries of the Company to the Collateral Agent for the mutual
benefit of the Creditors in order to secure the respective
obligations of the Company and the Pledgor Subsidiaries
under
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