Which Financing and you may Security Arrangement (just like the same ended, altered, restated or supplemented occasionally, it
Which Financing and you may Security Arrangement (just like the same ended, altered, restated or supplemented occasionally, it Agreement) is made as of ong PENNYMAC LOAN SERVICES, LLC, as lender (the Lender) and PENNYMAC HOLDINGS, LLC, as borrower (the Borrower). WHEREAS, in order to finance Portfolio Excess Spread (as defined below) owned by Borrower from