SECOND EXTENSION OF COMMITMENT TERMINATION DATE
UNDER REVOLVING CREDIT AGREEMENT
SECOND EXTENSION (this "Extension") dated as of June 28, 2001, under the Revolving Credit Agreement,
dated as of July 1, 1999 (as heretofore amended from time to time, the "Credit Agreement") by and among
AMBAC CREDIT PRODUCTS, LLC, a Delaware limited liability company (the "Borrower"), the banks,
financial institutions and other institutional lenders from time to time party thereto (collectively, together with their
respective assigns, the "Lenders", and each a "Lender"), and THE BANK OF NEW YORK, as Agent for the
Lenders (in such capacity, together with its successors in such capacity, the "Agent").
A. The Borrower has requested that the Commitment Termination Date be extended for a 364-day period from
the current Commitment Termination Date and the Lenders agree to such extension, subject to the terms and
conditions set forth below.
C. Capitalized terms used herein that are defined in the Credit Agreement and are not otherwise defined herein
shall have the respective meanings ascribed thereto in the Credit Agreement.
Accordingly, in consideration of the Recitals and the covenants, conditions and agreements hereinafter set forth,
and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the
parties hereto agree as follows:
Section 1.1 Extension of Maturity Date. Notwithstanding the procedures set forth in Section 2.16 of the Credit
Agreement, the Agent and each of the Lenders hereby consents to the extension of the Commitment Termination
Date for a period of 364 days from the current Commitment Termination Date. Accordingly, the new
Commitment Termination Date shall be June 27, 2002.
Section 1.2 Amendment to Credit Agreement. The Credit Agreement and the other Loan Documents shall each
be deemed amended hereby to the extent necessary, if any, to give effect to the provisions of this Extension.
Section 1.3 References in t