Document:

Fourth Amended and Restated Promissory Note

 Exhibit 4.1 
 FOURTH AMENDED AND RESTATED PROMISSORY NOTE 
  

			
	$250,000,000	  	September 12, 2003
	As of August 15, 2008, $175,000,000	  	Amended and Restated January 7, 2005
	As of September 12, 2008, $135,000,000	  	Further Amended and Restated January 9, 2006
		  	Further Amended and Restated September 5, 2006
		  	 Further Amended and Restated June 19, 2008

 New York, New York

 FOR VALUE RECEIVED, TAXI MEDALLION LOAN TRUST I, a Delaware business trust (the
“Borrower”), hereby promises to pay to the order of MERRILL LYNCH COMMERCIAL FINANCE CORP. (the “Lender”), at the principal office of the Lender at 15 W. South Temple, Suite 300, Salt Lake City, Utah 84101, in
lawful money of the United States, and in immediately available funds, the principal sum of TWO HUNDRED FIFTY MILLION DOLLARS ($250,000,000) (or such lesser amount as shall equal the aggregate unpaid principal amount of the Advances made by the
Lender to the Borrower under the Loan Agreement), on the dates and in the principal amounts provided in the Loan Agreement, and to pay interest on the unpaid principal amount of each such Advance, at such office, in like money and funds, for the
period commencing on the date of such Advance until such Advance shall be paid in full, at the rates per annum and on the dates provided in the Loan Agreement. 
 This Note is the Note referred to in that certain Amended and Restated Loan and Security Agreement, dated as of September 12, 2003 (as modified by that certain Amendment No. 1, dated as of August 12,
2004, Amendment No. 2, dated as of January 7, 2005, by that certain Amendment No. 3, dated as of January 9, 2006, by that certain Amendment No. 4, dated as of September 5, 2006, by that certain Amendment No. 5,
dated as of December 19, 2006, by that certain Omnibus Amendment and Agreement, dated as of March 18, 2008 and by that certain Amendment No. 7, dated as of June 19, 2008 and as further amended, restated, supplemented or otherwise
modified and in effect from time to time, the “Loan Agreement”), by and between the Borrower and the Lender and evidences the Advances made by the Lender thereunder. Terms used but not defined in this Note have the respective
meanings assigned to them in the Loan Agreement. 
 This Note amends and restates in its entirety that certain Third Amended and Restated
Promissory Note dated September 5, 2006, made by the Borrower in favor of the Lender in the original principal amount of Three Hundred Seventy-Five Million Dollars ($375,000,000) (the “Existing Note”); provided, that
this Note is given solely in substitution of the Existing Note and not in repayment or satisfaction thereof. The Borrower hereby acknowledges and agrees that simultaneously with the Borrower’s execution and delivery of this Note to the Lender,
the Lender has agreed to deliver, and has in fact delivered, to the Borrower the Existing Note, marked “cancelled”. 
 The date,
Type, amount and length of Interest Period of each Advance made by the Lender to the Borrower (including, without limitation, each “Advance” outstanding under the 

 
Existing Loan Agreement on the Restatement Effective Date), each continuation thereof, each conversion of all or a portion thereof to another Type and each
payment made on account of the principal thereof, shall be recorded by the Lender on its books and, prior to any transfer of this Note, endorsed by the Lender on the schedules attached hereto and constituting a part hereof or any continuation
thereof and any such recordation shall constitute Prima facie evidence of the accuracy of the information; provided, that the failure of the Lender to make any such recordation or endorsement shall not affect the obligations of the Borrower
to make a payment when due of any amount owing under the Loan Agreement or hereunder in respect of the Advances made by the Lender. 
 The
Borrower agrees to pay all the Lender’s costs of collection and enforcement (including reasonable attorneys’ fees and disbursements of Lender’s counsel) in respect of this Note in accordance with the Loan Agreement, including, without
limitation, reasonable attorneys’ fees through appellate proceedings. 
 Notwithstanding the pledge of the Collateral, the Borrower
hereby acknowledges, admits and agrees that the Borrower’s obligations under this Note are recourse obligations of the Borrower to which the Borrower pledges its full faith and credit. 
 The Borrower, and any indorsers or guarantors hereof, (a) severally waive diligence, presentment, protest and demand and also notice of protest,
demand, dishonor and nonpayments of this Note, (b) expressly agree that this Note, or any payment hereunder, may be extended from time to time, and consent to the acceptance of further Collateral, the release of any Collateral for this Note,
the release of any party primarily or secondarily liable hereon, and (c) expressly agree that it will not be necessary for the Lender, in order to enforce payment of this Note, to first institute or exhaust the Lender’s remedies against
the Borrower or any other party liable hereon or against any Collateral for this Note. No extension of time for the payment of this Note, or any installment hereof, made by agreement by the Lender with any person now or hereafter liable for the
payment of this Note, shall affect the liability under this Note of the Borrower, even if the Borrower is not a party to such agreement; provided, however, that the Lender and the Borrower, by written agreement among them, may affect
the liability of the Borrower. 
 Any reference herein to the Lender shall be deemed to include and apply to every subsequent holder of this
Note. Reference is made to the Loan Agreement for provisions concerning optional and mandatory prepayments, Collateral, acceleration and other material terms affecting this Note. 
 This Note shall be governed by and construed under the laws of the State of New York whose laws the Borrower expressly elects to apply to this Note.
The Borrower agrees that any action or proceeding brought to enforce or arising out of this Note may be commenced in the Supreme Court of the State of New York, Borough of Manhattan, or in the District Court of the United States for the Southern
District of New York. 

			
	TAXI MEDALLION LOAN TRUST I
		
	By:	 	 /s/ Andrew M. Murstein

	Name:	 	Andrew M. Murstein
	Title:	 	President

 Signature Page to Fourth Amended and Restated NoteAmendment No. 7 to Amended and Restated Loan and Security Agreement

 Exhibit 10.1 
 Execution Copy 
 AMENDMENT NO. 7 
 TO AMENDED AND RESTATED 
 LOAN AND SECURITY AGREEMENT 
 AMENDMENT NO. 7, dated as of June 19, 2008 (this “Amendment”), to the AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT, dated as of
September 12, 2003 (as amended, supplemented or otherwise modified prior to the date hereof, the “Existing Loan Agreement”; as amended hereby and as further amended, restated, supplemented or otherwise modified and in effect
from time to time, the “Loan Agreement”), by and between TAXI MEDALLION LOAN TRUST I (the “Borrower”) and MERRILL LYNCH COMMERCIAL FINANCE CORP. (the “Lender”). Capitalized terms used but not
otherwise defined herein shall have the meanings given to them in the Existing Loan Agreement. 
 RECITALS 
 The Borrower and the Lender are parties to the Existing Loan Agreement. 
 The Borrower and the Lender have agreed, subject to the terms and conditions hereof, that the Existing Loan Agreement shall be modified as set forth in this Amendment. 
 Accordingly, the Borrower and the Lender hereby agree, in consideration of the mutual promises and mutual obligations set forth herein, the receipt and
sufficiency of which is hereby acknowledged, that the Existing Loan Agreement is hereby amended as follows: 
 SECTION 1.
Amendments. 
 (a) Section 1.01 of the Existing Loan Agreement is hereby amended by deleting the definition of “Maximum
Committed Credit” in its entirety and inserting in lieu thereof the following new definition: 
 ““Maximum
Committed Credit” shall mean $250,000,000; provided that, beginning on August 15, 2008 to but excluding the Term Period Commencement Date, “Maximum Committed Credit” shall mean $175,000,000; provided further
that, beginning on the Term Period Commencement Date and thereafter, “Maximum Committed Credit” shall mean $135,000,000, or in each case, such other amount as may be in effect pursuant to Section 2.18 hereof.” 
 (b) Section 1.01 of the Existing Loan Agreement is hereby amended by adding the following definitions in the appropriate alphabetical order:

 ““Seventh Amendment” shall mean that certain Amendment No. 7, dated as of June 19, 2008, to
this Agreement, between the Lender and the Borrower.” 
 ““Seventh Amendment Effective Date” shall
mean the “Amendment Effective Date, as defined in the Seventh Amendment, dated as of June 19, 2008.” 

 ““Term Period Commencement Date” shall mean September 12,
2008. 
 (c) Section 1.01 of the Existing Loan Agreement is hereby amended by deleting the definition of “Applicable Margin”
in its entirety and inserting in lieu thereof the following new definition: 
 ““Applicable Margin” shall mean
(i) for each Advance secured by Eligible Medallion Loans, 1.25%; provided, that, for so long as no Default or Event of Default shall have occurred and be continuing and all of the Preferred Pricing Eligibility Criteria shall be
satisfied, “Applicable Margin” shall mean, (i) solely for each Advance secured by Eligible Medallion Loans other than Category III Medallion Loans and Purchased Medallion Loans, 0.75%, (ii) for each Advance secured by Category
III Medallion Loans, 1.25% and (iii) for each Advance secured by Purchased Medallion Loans with a loan to value ratio of not more than 85%, 1.00%; provided, further, that beginning on the Term Period Commencement Date and
thereafter, “Applicable Margin” shall mean, for all Advances, 2.50%.” 
 (d) Section 1.01 of the Existing Loan Agreement
is hereby amended by deleting the definition of “Termination Date” in its entirety and inserting in lieu thereof the following new definition: 
 ““Termination Date” shall mean the earlier of: (i) December 24, 2008, and (ii) the date on which an Event of Default occurs, or, in either case, such earlier date on which this
Loan Agreement shall terminate in accordance with the provisions hereof or by operation of law.” 
 (e) Section 2.01 of the
Existing Loan Agreement is hereby amended by (i) deleting from subsections (a) and (b) the references to “Termination Date” therein and substituting in lieu thereof “Term Period Commencement Date” and
(ii) adding the following subsection (f) in the appropriate order: 
 “(f) Notwithstanding anything contained
herein to the contrary, beginning on the Term Period Commencement Date and thereafter, Lender shall have no obligation to make new Advances with respect to any Medallion Loan.” 
 (f) Section 2.03 of the Existing Loan Agreement is hereby amended by (i) deleting the reference to “Termination Date” in the first
sentence therein and substituting in lieu thereof “Term Period Commencement Date” and (ii) adding the following subsection (c) in the appropriate order: 
 “(c) Notwithstanding anything contained herein to the contrary, beginning on the Term Period Commencement Date and thereafter, Lender
shall have no obligation to make new Advances with respect to any Medallion Loan.” 
 (g) Section 2.18 of the Existing Loan
Agreement is hereby amended by deleting it in its entirety and inserting in lieu thereof the following: 
 “Section 2.18
Reduction of Maximum Committed Credit. At any time, so long as no Default or Event of Default shall have occurred and then be continuing, the Borrower may reduce the amount of the Maximum Committed Credit by delivering to the Lender a notice
of its election to reduce the amount of the Maximum Committed Credit executed by a duly authorized Responsible Officer of the Borrower, which notice must be received by the Lender at least ten (10) days prior to the requested effective date of
such reduction; provided, that any election by the Borrower to reduce the Maximum Committed Credit shall be subject, without limitation, to the right of first refusal given to the Lender pursuant to Section 7.20.” 
  

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 (h) Section 3.04 of the Existing Loan Agreement is hereby amended by deleting it in its entirety and
inserting in lieu thereof the following: 
 “Section 3.04 Reserved.” 
 SECTION 2. Conditions Precedent. This Amendment shall become effective on the first date (the “Amendment Effective Date”)
on which all of the following conditions precedent shall have been satisfied: 
 2.01 Documents. On the Amendment Effective Date, the
Lender shall have received all of the following documents, each of which shall be satisfactory to the Lender in form and substance: 
 (a)
Amendment. This Amendment, executed and delivered by a duly authorized officer of each of the Borrower and the Lender. 
 (b)
Fourth Amended and Restated Note. An amended and restated promissory note, substantially in the form of Exhibit A hereto, executed and delivered by a duly authorized officer of the Borrower. 
 (c) Secretary’s Certificate. A certificate of the Secretary or Assistant Secretary of the Borrower, substantially in the form of
Exhibit B hereto, dated as of the date hereof, and 
 (i) certifying that since the Effective Date of the Existing
Loan Agreement there have been no changes to any of the organizational documents delivered pursuant to Section 5.01 of the Existing Loan Agreement, 
 (ii) attaching a copy of the resolutions of the Borrower authorizing the execution, delivery and performance of this Amendment, and the borrowings contemplated under the Loan Agreement, 
 (iii) attaching certificates dated as of a recent date from the Secretary of State or other appropriate authority, evidencing the good
standing of the Borrower in the jurisdiction of its organization, and 
 (iv) certifying as to the incumbency and specimen
signature of each officer executing this Amendment on behalf of the Borrower. 
  

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 (d) Legal Opinion. Legal opinion of internal counsel to the Borrower, in form and substance
satisfactory to the Lender. 
 (e) Other Documents. Such other documents as the Lender or counsel to the Lender may reasonably
request. 
 2.02 No Default. On the Amendment Effective Date, (i) the Borrower shall be in compliance with all of the terms and
provisions set forth in the Existing Loan Agreement and the other Loan Documents on its part to be observed or performed, (ii) the representations and warranties made and restated by the Borrower pursuant to Section 3 of this Amendment
shall be true and complete in all material respects on and as of such date with the same force and effect as if made on and as of such date, and (iii) no Default or Event of Default shall have occurred and be continuing on such date.

 2.03 Fees and Expenses. The Lender hereby waives the Amendment Fee set forth in Section 3.05 of the Loan Agreement. On the
Amendment Effective Date, the Borrower shall have reimbursed the Lender for, or directly paid, all costs and expenses, other than the Amendment Fee, incurred by the Lender in connection with the negotiation, preparation and execution of this
Amendment, and all other outstanding amounts for which the Borrower is liable pursuant to Section 10.03 of the Loan Agreement, including, without limitation, the fees, disbursements and expenses of Cadwalader, Wickersham & Taft LLP,
counsel to the Lender. 
 SECTION 3. Representations and Warranties. The Borrower hereby represents and warrants to the Lender
that it is in compliance with all the terms and provisions set forth in the Loan Documents on its part to be observed or performed and that no Default or Event of Default has occurred or is continuing, and hereby confirms and reaffirms each of the
representations and warranties contained in Article VI of the Loan Agreement. 
 SECTION 4. Limited Effect. Except as expressly
amended and modified by this Amendment, the Existing Loan Agreement and each other Loan Document shall continue to be, and shall remain, in full force and effect in accordance with its terms; provided, however, that upon the Amendment
Effective Date, all references therein and herein to the “Loan Documents” shall be deemed to include, in any event, this Amendment and each reference to the Loan Agreement in any of the Loan Documents shall be deemed to be a reference to
the Loan Agreement as amended hereby. 
 SECTION 5. Counterparts. This Amendment may be executed by each of the parties hereto
on any number of separate counterparts, each of which shall be an original and all of which taken together shall constitute one and the same instrument. Delivery of an executed signature page of this Amendment in Portable Document Format (PDF) or by
facsimile transmission shall be effective as delivery of an executed original counterpart of this Amendment. 
 SECTION 6.
GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
 [SIGNATURES FOLLOW] 
  

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 IN WITNESS WHEREOF, intending to be legally bound, each of the undersigned has caused this Amendment to
be executed on its behalf by its officer hereunto duly authorized, as of the date first above written. 
  

			
	BORROWER
	
	TAXI MEDALLION LOAN TRUST I
		
	By:	 	 /s/ Andrew M. Murstein

	Name:	 	Andrew M. Murstein
	Title:	 	President
	
	LENDER
	
	MERRILL LYNCH COMMERCIAL FINANCE CORP.
		
	By:	 	 /s/ Joseph Magnus

	Name:	 	Joseph Magnus
	Title:	 	Director

 Signature Page to Amendment No. 7

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