EXHIBIT NUMBER 10.10
 
AMENDMENT NO. 3
TO
SERIES 2000-1 TERMS SUPPLEMENT
 
AMENDMENT NO. 3, dated as of July 8, 2002, between MCG Master Trust (the
“Issuer”) and Wells Fargo Bank Minnesota, National Association (f/k/a Norwest
Bank Minnesota, National Association), as Indenture Trustee (the “Indenture
Trustee”).
 
WHEREAS, the Issuer and the Indenture Trustee entered into the Indenture dated
as of June 1, 2000 (as amended, the “Indenture”) and the Series 2000-1 Terms
Supplement to the Indenture dated as of June 1, 2000 (as amended, the “Series
2000-1 Terms Supplement”) in connection with the issuance by the Issuer of the
MCG Master Trust Notes, Series 2000-1 (the “Notes”); and
 
WHEREAS, Section 9.02 of the Indenture and Section 5.5 of the Series 2000-1
Terms Supplement permit the Series 2000-1 Terms Supplement to be amended from
time to time pursuant to the conditions set forth therein; and
 
WHEREAS, the parties hereto wish to amend the Series 2000-1 Terms Supplement as
set forth herein;
 
NOW THEREFORE, in consideration of the above premises and for other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agrees as follows:
 
1.    Capitalized terms used herein and not otherwise defined shall have the
meanings ascribed thereto in the Series 2000-1 Terms Supplement and in Appendix
A to the Sale and Servicing Agreement dated as of June 1, 2000, as amended,
among the Issuer, MCG Finance II, LLC (f/k/a MCG Finance Corporation II) and MCG
Capital Corporation (f/k/a MCG Credit Corporation).
 
2.    In clause (vii) of the definition “TERMINATION EVENT” the percentage
“2.25%” is hereby replaced with the percentage “3.00%.”
 
3.    Except as otherwise set forth herein, the Series 2000-1 Terms Supplement
shall continue in full force and effect in accordance with its terms.
 
4.    This Amendment No. 3 may be executed in one or more counterparts, each of
which, when so executed, shall be deemed an original; such counterparts,
together, shall constitute one and the same agreement.

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IN WITNESS WHEREOF, the undersigned have executed this Amendment No. 3 to Series
2001-1 Terms Supplement as of the day and year first above written.
 
MCG MASTER TRUST:

        By:
 
MCG CAPITAL CORPORATION
(f/k/a MCG Credit Corporation)        

 
        By:
 
            /s/ STEVEN F. TUNNEY

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                Name:  Steven F. Tunney
                Title:    President and Chief Operating Officer

 
WELLS FARGO BANK MINNESOTA, NATIONAL ASSOCIATION (f/k/a Norwest Bank Minnesota,
National Association), not in its individual capacity but solely as Indenture
Trustee
        By:
 
            /s/ TIMOTHY MATYi

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                Name:  Timothy Matyi
                Title:    Assistant Vice President

 
CONSENTED TO:
 
WACHOVIA SECURITIES, INC.
(f/k/a First Union Securities, Inc.),
as Administrative Agent
 
By:
 
/s/ MARY KATHERINE JETT        

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Name:  Mary Katherine Jett
Title:    Vice President

 
VARIABLE FUNDING CAPITAL CORPORATION,
as Sole Noteholder
 
By:
 
    WACHOVIA SECURITIES, INC.
     (f/k/a First Union Securities, Inc.),
    as attorney-in-fact        

 
By:
 
/s/ DOUGLAS R. WILSON, SR.         

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Name:  Douglas R. Wilson, Sr.
Title:    Vice President