Exhibit 10.11(d)
FOURTH AMENDMENT TO MASTER
REPURCHASE AGREEMENT
GOVERNING PURCHASES AND SALES OF MORTGAGE LOANS
This Fourth Amendment, dated as of
March 3, 2006 (this “ Amendment ”), to the
Master Repurchase Agreement Governing Purchases and Sales of
Mortgage Loans, dated as of January 18, 2005 as amended by the
First Amendment dated June 20, 2005, Second Amendment dated
October 28, 2005 and Third Amendment dated as of
January 17, 2006 (the “ Agreement ”), is
made by and between LEHMAN BROTHERS BANK, FSB (“ Buyer
”) and AAMES CAPITAL CORPORATION (“ ACC ”)
and AAMES INVESTMENT CORPORATION (“ AIC ”,
collectively with ACC, “ Seller ” and, together
with the Buyer, the “ Parties ”). Capitalized
terms used in this Amendment and not otherwised defined herein
shall have the meaning set forth in the Agreement.
RECITALS
WHEREAS, the Seller and the Buyer
are parties to the Agreement, pursuant to which the Buyer has
agreed, subject to the terms and conditions set forth in the
Agreement, to purchase certain Mortgage Loans owned by the Seller,
including, without limitation, all rights of Seller to service and
administer such Mortgage Loans. Terms used but not defined herein
shall have the respective meanings ascribed to such terms in the
Agreement, as amended hereby.
WHEREAS, the Parties wish to amend
the Agreement to modify certain of the terms and conditions
governing the purchase and sale of the Mortgage Loans.
NOW, THEREFORE, for good and
valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the Parties hereto agree as
follows:
Section 1.
Amendment
.
1.1
Sections
13(a)(xiv), (xv) and (xvi) of the Agreement are hereby deleted in
their entirety and replaced with the following:
“(xiv)
the Leverage Ratio shall exceed 20.0
to 1.0 at any time;
(xv)
the Adjusted Leverage Ratio shall
exceed 7.0 to 1.0 at any time;
(xvi)
the aggregate amount of the
AIC’s cash, Cash Equivalents and available borrowing capacity
on unencumbered assets
