EX-10.1



 Exhibit 10.1 

AMENDMENT NO. 7 
 Dated as of
October 4, 2016 
 to 

LOAN AND SECURITY AGREEMENT 

Dated as of December 12, 2008 

THIS AMENDMENT NO. 7 (this “Amendment”) dated as of October 4, 2016 is entered into by and among TAXI MEDALLION LOAN
TRUST III, a Delaware statutory trust (the “Borrower”), MEDALLION FUNDING LLC (successor by merger to Medallion Funding Corp.), a New York limited liability company (the “Transferor”), MEDALLION FINANCIAL CORP., a
Delaware corporation (“Parent”), MEDALLION CAPITAL, INC., a Minnesota corporation (“Medallion Capital”), FRESHSTART VENTURE CAPITAL CORP., a New York corporation (“Freshstart” and, together with the
Borrower, the Transferor, Parent and Medallion Capital, the “MF/Borrower Related Parties”), AUTOBAHN FUNDING COMPANY LLC, a Delaware limited liability company (the “Conduit Lender”), and DZ BANK AG DEUTSCHE
ZENTRAL-GENOSSENSCHAFTSBANK, FRANKFURT AM MAIN, as agent (in such capacity, the “Agent”) and as committed lender (in such capacity, the “Committed Lender”). 

PRELIMINARY STATEMENTS 
 A.
Reference is made to the Loan and Security Agreement dated as of December 12, 2008 among the Borrower, the Committed Lender, the Conduit Lender and the Agent (as amended by Amendment No. 1 thereto dated as of August 5, 2009, Amendment
No. 2 dated as of April 29, 2010, Omnibus Amendment, dated as of December 12, 2013, Amendment No. 4 dated as of December 28, 2015, Amendment No. 5 dated as of June 16, 2016, Amendment No. 6 dated as of
September 13, 2016 and as further amended, restated, supplemented or otherwise modified from time to time, the “Loan Agreement”). Capitalized terms used and not otherwise defined herein shall have the meanings ascribed to them
in the Loan Agreement. 
 B. The parties hereto have agreed to amend the Loan Agreement on the terms and conditions hereinafter set forth.

 NOW, THEREFORE, in consideration of the premises set forth above, and other good and valuable consideration the receipt and sufficiency
of which is hereby acknowledged, the parties hereto agree as follows: 
 SECTION 1. Amendment. Effective as of August 31, 2016,
Section 6.02(f) of the Loan Agreement is hereby amended to delete the percentage “12.0%” appearing therein and insert the percentage “15.0%” therefor. 

SECTION 2. Release. Each of the MF/Borrower Related Parties hereby acknowledges and confirms on its own behalf and on behalf of its
officers and directors, and its respective predecessors, successors, assigns, agents and other legal representatives, and any Person claiming by or through any of them (collectively, the “Releasors”), that (i) it does not have
any grounds, and hereby agrees not to challenge (or to allege or to pursue any matter, cause or claim arising under or with respect to), in any 







 
case based upon acts or omissions of any Lender, Agent or any other Indemnified Party occurring prior to the date hereof or facts otherwise known to it as of the date hereof, the effectiveness,
genuineness, validity, collectability or enforceability of the Loan Documents and (ii) it does not possess, and hereby unconditionally and forever waives, remises, releases, discharges and holds harmless each Lender, Agent and any other
Indemnified Party, and each of their respective affiliates, stockholders, directors, officers, employees, attorneys, agents, representatives, heirs, executors, administrators, successors and assigns, each Person acting or purporting to act for them
or on their behalf, and the successors and assigns of any such Persons (collectively, the “Designated Parties”), from and against, and agrees not to allege or pursue, any action, cause of action, suit, debt, liability, loss,
expense, claim, counterclaim, cross-claim, demand, defense, offset, opposition, demand and other right of action whatsoever, whether now known or unknown, past or present, asserted or unasserted, contingent or liquidated, whether in law, equity or
otherwise, which any of the Releasors ever had, now have, may have, or claim to have against any of the Designated Parties, by reason of any matter, cause or thing whatsoever, with respect to events or omissions occurring or arising on or prior to
the date hereof and relating to the Loan Documents, any transaction relating thereto, or any actions or omissions in connection therewith (collectively, the “Claims”). The foregoing release shall be construed in the broadest sense
possible. 
 The MF/Borrower Related Parties warrant and represent that they are the sole and lawful owners of all right, title, and
interest in and to every Claim being released hereby and they have not assigned, pledged, hypothecated, or otherwise divested or encumbered all or any part of any Claim being released hereby. The MF/Borrower Related Parties hereby agree to
indemnify, defend, and hold harmless any and all of the Releasees from and against any Claims asserted against any Releasee based on, or arising in connection with, any such prior assignment or transfer, whether actual or purported. The MF/Borrower
Related Parties hereby absolutely, unconditionally, and irrevocably agree never to commence, prosecute, cause to be commenced or prosecuted, voluntarily aid in any way, or foment any suit, action, or other proceeding (at law, in equity, in any
regulatory proceeding, or otherwise) or otherwise seek any recovery against any of the Releasees based on any of the Claims being released hereby. The MF/Borrower Related Parties hereby specifically warrant, represent, acknowledge, and agree that:
(a) none of the provisions of this general release shall be construed as or constitute an admission of any liability on the part of any Releasee; and (b) the provisions of this general release shall constitute an absolute bar to any Claim
of any kind, whether any such Claim is based on contract, tort, warranty, mistake, or any other theory, whether legal, statutory, or equitable. 

SECTION 3. Reference to and Effect on the Loan Agreement. 

3.1 Upon the effectiveness of this Amendment, each reference in the Loan Agreement to “this Agreement,” “hereunder,”
“hereof,” “herein,” “hereby” or words of like import shall mean and be a reference to the Loan Agreement as amended hereby, and each reference to the Loan Agreement in any other document, instrument and agreement
executed and/or delivered in connection with the Loan Agreement shall mean and be a reference to the Loan Agreement as amended hereby 
 3.2
Except as specifically provided herein, the Loan Agreement, the other Loan Documents and all other documents, instruments and agreements executed and/or delivered in connection therewith shall remain in full force and effect and are hereby ratified
and confirmed. 
 3.3 The execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or
remedy of the Agent, the Conduit or the Committed Lender under the Loan Agreement, the other Loan Documents or any other document, instrument, or agreement executed in connection therewith, nor constitute a waiver of any provision contained therein.


  
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 SECTION 4. Governing Law. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
WITH, THE LAWS OF THE STATE OF NEW YORK (INCLUDING SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK BUT OTHERWISE WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES). 

SECTION 5. Execution in Counterparts. This Amendment may be executed in any number of counterparts and by different parties hereto in
separate counterparts, each of which when so executed and delivered shall be deemed to be an original and all of which taken together shall constitute but one and the same instrument. Delivery of an executed counterpart of this Amendment by
facsimile or electronic mail shall be effective as delivery of a manually executed counterpart of this Amendment. 
 SECTION 6.
Headings. Section headings in this Amendment are included herein for convenience of reference only and shall not constitute a part of this Amendment for any other purpose. 

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 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their
respective signatories thereunto duly authorized as of the date first written above. 
  

			
	TAXI MEDALLION LOAN TRUST III, as Borrower
		
	By	 	/s/Andrew M. Murstein
	Name:	 	Andrew M. Murstein
	Title:	 	President


 Signature Page to 

Amendment No. 7 to Loan and Security Agreement 







 
			
	MEDALLION FINANCIAL CORP.
		
	By	 	/s/Andrew M. Murstein
	Name:	 	Andrew M. Murstein
	Title:	 	President


  

			
	MEDALLION CAPITAL, INC.
		
	By	 	/s/ Stephen A. Lewis
	Name:	 	Stephen A. Lewis
	Title:	 	Senior Vice President


  

			
	FRESHSTART VENTURE CAPITAL CORP.
		
	By	 	/s/ Larry D. Hall
	Name:	 	Larry D. Hall
	Title:	 	Treasurer


 Signature Page to 

Amendment No. 7 to Loan and Security Agreement 







 
			
	 DZ BANK AG DEUTSCHE

ZENTRAL-GENOSSENSCHAFTSBANK,
 FRANKFURT AM MAIN, as Agent and as
the
 Committed Lender

		
	By	 	/s/ Jayan Krishnan
	Name:	 	Jayan Krishnan
	Title:	 	Director
		
	By	 	/s/ Alexander Ploch
	Name:	 	Alexander Ploch
	Title:	 	Vice President


  

			
	 AUTOBAHN FUNDING COMPANY LLC, as the Conduit Lender
  

By: DZ BANK AG DEUTSCHE
 ZENTRAL-GENOSSENSCHAFTSBANK, FRANKFURT AM
MAIN, its Attorney-in-Fact

		
	By	 	/s/ Jayan Krishnan
	Name:	 	Jayan Krishnan
	Title:	 	Director
		
	By	 	/s/ Alexander Ploch
	Name:	 	Alexander Ploch
	Title:	 	Vice President 


 Signature Page to 

Amendment No. 7 to Loan and Security Agreement 







 The undersigned hereby (i) acknowledges and agrees to the foregoing Amendment, (ii) reaffirms all of
its obligations under the Limited Recourse Guaranty and the other Loan Documents to which it is a party and (iii) acknowledges and agrees that the Limited Recourse Guaranty and such other Loan Documents remain in full force and effect. 

 

			
	MEDALLION FUNDING LLC
		
	By	 	/s/ Larry D. Hall
	Name:	 	Larry D. Hall
	Title:	 	Treasurer

 Signature Page to 

Amendment No. 7 to Loan and Security Agreement