Exhibit 10.12(f)
AMENDMENT NO. 3 TO
COMMITMENT LETTER
This AMENDMENT NO. 3 TO COMMITMENT LETTER (the
“Amendment”) is made and entered into as of March 9,
2006 by and between Countrywide Warehouse Lending
(“Lender”) and Aames Capital Corporation, Aames Funding
Corporation, Aames Investment Corporation, and Aames Financial
Corporation (jointly, the “Borrower”). This Amendment
amends that certain Commitment Letter by and between Lender and
Borrower dated as of March 25, 2005 (the “Commitment
Letter”), which supplements that certain Revolving Credit and
Security Agreement by and between Lender and Borrower dated as of
July 1, 2003 (as may be amended from time to time, the
“Credit Agreement”).
R E C I T A L S
Lender and Borrower have previously
entered into the Commitment Letter and Credit Agreement pursuant to
which Lender may, from time to time, provide Borrower credit in the
form of a warehouse line secured by residential mortgage loans.
Lender and Borrower hereby agree that the Commitment Letter shall
be amended as provided herein.
In consideration of the mutual promises
contained herein, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged,
Lender and Borrower hereby agree as follows:
1.
Financial
Covenants . Section (b). Lender and Borrower agree that
effective as of the date of the Amendment Financial Covenants
Sections (b), (c) and (d) shall be deleted in their entirety and
replaced as follows:
“(b)
Adjusted Leverage Ratio:
7:1
(c)
Maximum ratio of Total
Liabil
