Document:

EXHIBIT 10.9

 Exhibit 10.9 
  
 AMENDMENT NO. 1 TO 
 SECOND AMENDED AND RESTATED 
 LOAN FUNDING AND SERVICING AGREEMENT 
 (ACS Funding Trust I) 
  
 THIS AMENDMENT NO. 1 TO SECOND AMENDED AND RESTATED LOAN FUNDING AND SERVICING AGREEMENT, dated as of August 27, 2004 (this
“Amendment”), is entered into by and among ACS FUNDING TRUST I, as the borrower (in such capacity, the “Borrower”), AMERICAN CAPITAL STRATEGIES, LTD., as the servicer (in such capacity, the
“Servicer”), VARIABLE FUNDING CAPITAL CORPORATION, as a conduit lender (in such capacity, the “Conduit Lender”), WACHOVIA CAPITAL MARKETS, LLC, as the deal agent (in such capacity, the “Deal
Agent”), JPMORGAN CHASE BANK (“JPMorgan Chase Bank”), as an institutional lender (in such capacity, the “Institutional Lender”) and as the swingline lender (in such capacity, the “Swingline
Lender”), and is acknowledged and agreed to by WACHOVIA BANK, NATIONAL ASSOCIATION, as a hedge counterparty (in such capacity, the “Hedge Counterparty”). Capitalized terms used and not otherwise defined herein shall have
the meanings given to such terms in the Agreement (as defined below). 
  
 R E C I T A L S 
  
 WHEREAS, the parties hereto are parties to that certain Second Amended and Restated Loan Funding and Servicing Agreement, dated as of August 10, 2004 (such agreement as amended, modified, supplemented, waived
or restated from time to time, the “Agreement”); 
  
 WHEREAS, the parties hereto desire to amend the Agreement in certain respects as provided herein, pursuant to and in accordance with Section 12.1(a) of the Agreement; 
  
 NOW, THEREFORE, based upon the above Recitals, the mutual premises and agreements contained herein, and other good
and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows: 
  
 SECTION 1. AMENDMENTS. 
  
 (a) Section 1.1 is hereby amended by inserting the following defined term in appropriate alphabetical sequence: 

 
 “Citigroup”: Citigroup Global Markets
Realty Corp., a New York corporation. 
  

 (b) Section 12.1(a) is hereby amended by adding a new proviso the end of the first sentence
thereof as follows: 
  
 “; and
provided, further, that any amendment to this Agreement which would make any modification to the definitions of “Advance”, “Advances Outstanding”, “Aggregate Net Mark to Market Amount”,
“Borrowing Base”, “Class C Securities”, “Facility Amount”, “Fair Market Value”, “Maximum Availability”, “Pro Rata Share”, “Required Equity Contribution” and “Termination
Event” shall not be effective without the written agreement of the Borrower, the Deal Agent, VFCC, JPMorgan Chase Bank and Citigroup”. 
  
 SECTION 2. AGREEMENT IN FULL FORCE AND EFFECT AS AMENDED AND WAIVED. 
  
 Except as specifically amended and waived hereby, all provisions of the Agreement shall remain in full force and effect.
After this Amendment becomes effective, all references to the Agreement, the “Loan Funding and Servicing Agreement,” “hereof,” “herein,” or words of similar effect referring to the Agreement shall be deemed to mean the
Agreement as amended hereby. This Amendment shall not constitute a novation of the Agreement, but shall constitute an amendment and waiver thereof. This Amendment shall not be deemed to expressly or impliedly waive, amend or supplement any provision
of the Agreement other than as expressly set forth herein. 
  
 SECTION 3. REPRESENTATIONS. 
  
 Each of the
Borrower and Servicer represent and warrant as of the date of this Amendment as follows: 
  
 (i) it is duly incorporated or organized, validly existing and in good standing under the laws of its jurisdiction of incorporation or
organization; 
  
 (ii) the execution, delivery
and performance by it of this Amendment are within its powers, have been duly authorized, and do not contravene (A) its charter, by- laws, or other organizational documents, or (B) any Applicable Law; 
  
 (iii) no consent, license, permit, approval or authorization
of, or registration, filing or declaration with any governmental authority, is required in connection with the execution, delivery, performance, validity or enforceability of this Amendment by or against it; 
  
 (iv) this Amendment has been duly executed and delivered by
it; 
  
 (v) this Amendment constitutes its legal,
valid and binding obligation enforceable against it in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’
rights generally or by general principles of equity; 
  

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 (vi) it is not in default under the Agreement; and 
  
 (vii) there is no Termination Event, Unmatured Termination
Event, or Servicer Termination Event. 
  
 SECTION 4.
CONDITIONS TO EFFECTIVENESS. 
  
 The effectiveness of
this Amendment is conditioned upon (i) payment of the outstanding fees and disbursements of Dechert LLP, as counsel to the Deal Agent and (ii) delivery of executed signature pages by all parties hereto to the Deal Agent. 
  
 SECTION 5. MISCELLANEOUS. 
  
 (a) This Amendment may be executed in any number of counterparts (including
by facsimile), and by the different parties hereto on the same or separate counterparts, each of which shall be deemed to be an original instrument but all of which together shall constitute one and the same agreement. 
  
 (b) The descriptive headings of the various sections of this Amendment are
inserted for convenience of reference only and shall not be deemed to affect the meaning or construction of any of the provisions hereof. 
  
 (c) This Amendment may not be amended or otherwise modified except as provided in the Agreement. 
  
 (d) The failure or unenforceability of any provision hereof shall not affect
the other provisions of this Amendment. 
  
 (e) Whenever the
context and construction so require, all words used in the singular number herein shall be deemed to have been used in the plural, and vice versa, and the masculine gender shall include the feminine and neuter and the neuter shall include the
masculine and feminine. 
  
 (f) This Amendment represents the
final agreement between the parties and may not be contradicted by evidence of prior, contemporaneous or subsequent oral agreements between the parties. There are no unwritten oral agreements between the parties. 
  
 (g) THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER
THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
  
 [Remainder of Page Intentionally Left Blank] 
  

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

					
	 ACS FUNDING TRUST I, as Borrower

		
	By:	 	 American Capital Strategies, Ltd., as Servicer

		
	By:	 	 /s/ Malon Wilkus

	 	 	 Name:
	 	 Malon Wilkus

	 	 	 Title:
	 	 President, Chairman and CEO

	
	AMERICAN CAPITAL STRATEGIES, LTD., as Servicer
		
	By:	 	 /s/ Thomas McHale

	 	 	 Name:
	 	 Thomas McHale

	 	 	 Title:
	 	 Vice President, Finance and

	 	 	 Investor Relations and Assistant Secretary

  
 [SIGNATURES
CONTINUED ON FOLLOWING PAGE] 
  
 1st Amendment to 2nd Amended and Restated Loan Funding and 
 Servicing Agreement 
  

					
	VARIABLE FUNDING CAPITAL CORPORATION, as a Conduit Lender
		
	By:	 	Wachovia Capital Markets, LLC, as attorney-in-fact
		
	By:	 	 /s/ Douglas R. Wilson, Sr.

	 	 	 Name:
	 	 Douglas R. Wilson, Sr.

	 	 	 Title:
	 	 Vice President

	
	 WACHOVIA CAPITAL MARKETS, LLC,
 as the
Deal Agent

		
	By:	 	 /s/ Paul A. Burkhart

	 	 	 Name:
	 	 Paul A. Burkhart

	 	 	 Title:
	 	 Vice President

  
 [SIGNATURES
CONTINUED ON FOLLOWING PAGE] 
  
 1st Amendment to 2nd Amended and Restated Loan Funding and 
 Servicing Agreement 
  

					
	JPMORGAN CHASE BANK, as an Institutional Lender
		
	By:	 	 /s/ Christine Herrick

	 	 	 Name:
	 	 Christine Herrick

	 	 	 Title:
	 	 Vice President

	
	JPMORGAN CHASE BANK, as the Swingline Lender
		
	By:	 	 /s/ Christine Herrick

	 	 	 Name:
	 	 Christine Herrick

	 	 	 Title:
	 	 Vice President

  
 [SIGNATURES
CONTINUED ON FOLLOWING PAGE] 
  
 1st Amendment to 2nd Amended and Restated Loan Funding and 
 Servicing Agreement 
  

					
	Acknowledged and agreed as of the date above first written.
	
	WACHOVIA BANK, NATIONAL ASSOCIATION, as the Hedge Counterparty
		
	 By:
	 	 /s/ Bruce Young

	 	 	 Name:
	 	 Bruce Young

	 	 	 Title:
	 	 Senior Vice President

  
 1st Amendment to 2nd Amended and Restated Loan Funding and 
 Servicing AgreementEXHIBIT 10.10

 Exhibit 10.10 
  
 JOINDER SUPPLEMENT 
  
 JOINDER SUPPLEMENT, dated as of the date set forth in Item 1 of Schedule I hereto, among the financial institution identified in Item 2 of Schedule I
hereto, ACS Funding Trust I, as the borrower (the “Borrower”), and Wachovia Capital Markets, LLC, as Deal Agent (the “Deal Agent”). 
  
 W I T N E S S E T H: 
  
 WHEREAS, this Joinder Supplement is being executed and delivered under Section 2.1(e) of the Second Amended and Restated Loan Funding and Servicing
Agreement, dated as of August 10, 2004 (as amended, modified, waived, supplemented or restated from time to time, the “Agreement”), by and among the Borrower, American Capital Strategies, Ltd., as the servicer (the
“Servicer”), the Conduit Lenders and Institutional Lenders from time to time party thereto, the Lender Agents from time to time party thereto, the Deal Agent, JPMorgan Chase Bank, as the swingline lender, and Wells Fargo Bank,
National Association, as the backup servicer and as the collateral custodian (all capitalized terms used but not defined herein have the meaning assigned thereto in the Agreement); and 
  
 WHEREAS, the party set forth in Item 2 of Schedule I hereto (the “Proposed Lender”) wishes to become a
Lender designated as an Institutional Lender party to the Agreement; 
  
 NOW, THEREFORE, the parties hereto hereby agree as follows: 
  
 (a) Upon receipt by the Deal Agent of an executed counterpart of this Joinder Supplement, to which is attached a fully completed Schedule I and Schedule II, each of which has been executed by the Proposed Lender, the Borrower, the Lender
Agent and the Deal Agent, the Deal Agent will transmit to the Proposed Lender, the Borrower and the Lender Agent, a Joinder Effective Notice, substantially in the form of Schedule III to this Joinder Supplement (a “Joinder Effective
Notice”). Such Joinder Effective Notice shall be executed by the Deal Agent and shall set forth, inter alia, the date on which the joinder effected by this Joinder Supplement shall become effective (the “Joinder
Effective Date”). From and after the Joinder Effective Date, the Proposed Lender shall be a Lender designated as an Institutional Lender party to the Agreement for all purposes thereof. Pursuant thereto, and concurrently therewith, the
Borrower shall execute and deliver to Citigroup Global Markets Realty Corp. a Structured Note in the name of Citigroup Global Markets Realty Corp. 
  
 (b) Each of the parties to this Joinder Supplement agrees and acknowledges that at any time and from time to time upon the written request of any other
party, it will execute and deliver such further documents and do such further acts and things as such other party may reasonably request in order to effect the purposes of this Joinder Supplement. 
  
 (c) By executing and delivering this Joinder Supplement, the Proposed Lender
confirms to and agrees with the Deal Agent, the Lender Agents and the other Lenders as follows: (i) none of the Deal Agent, the Lender Agents and the other Lenders makes any representation or 

  

 
warranty or assumes any responsibility with respect to any statements, warranties or representations made in or in connection with the Agreement or the
execution, legality, validity, enforceability, genuineness, sufficiency or value of the Agreement or any other instrument or document furnished pursuant thereto, or with respect to any Structured Notes issued under the Agreement, or the Collateral
(as defined under the Agreement) or the financial condition of the Originator, the Servicer or the Borrower, or the performance or observance by the Originator, the Servicer or the Borrower of any of their respective obligations under the Agreement,
any other Transaction Document or any other instrument or document furnished pursuant thereto; (ii) the Proposed Lender confirms that it has received a copy of such documents and information as it has deemed appropriate to make its own credit
analysis and decision to enter into this Joinder Supplement; (iii) the Proposed Lender will, independently and without reliance upon the Deal Agent, the Lender Agents or any other Lender and based on such documents and information as it shall deem
appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Agreement; (iv) the Proposed Lender appoints and authorizes the Lender Agent to take such action as agent on its behalf and to exercise such
powers under the Agreement as are delegated to the Lender Agent by the terms thereof, together with such powers as are reasonably incidental thereto, all in accordance with Article XI of the Agreement; (v) the Proposed Lender appoints and authorizes
the Deal Agent to take such action as agent on its behalf and to exercise such powers under the Agreement as are delegated to the Deal Agent by the terms thereof, together with such powers as are reasonably incidental thereto, all in accordance with
the Agreement; and (vi) the Proposed Lender agrees (for the benefit of the parties hereto and the other Lenders) that it will perform in accordance with their terms all of the obligations which by the terms of the Agreement are required to be
performed by it as a Lender designated as an Institutional Lender. 
  
 (d) Schedule II hereto sets forth administrative information with respect to the Proposed Lender. 
  
 (e) This Joinder Supplement shall be governed by, and construed in accordance with, the laws of the State of New York. 
  
 IN WITNESS WHEREOF, the parties hereto have caused this Joinder Supplement to
be executed by their respective duly authorized officers on Schedule I hereto as of the date set forth in Item 1 of Schedule I hereto. 
  

 SCHEDULE I TO  
 JOINDER SUPPLEMENT 
  
 COMPLETION OF INFORMATION AND 
 SIGNATURES FOR JOINDER SUPPLEMENT 
  

	 	Re:	Second Amended and Restated Loan Funding and Servicing Agreement, dated as of August 10, 2004, among ACS Funding Trust I, as Borrower, the other parties thereto and Wachovia Capital
Markets, LLC, as Deal Agent. 

  

			
		
	 Item 1: Date of Joinder Supplement:
	 	 August 27, 2004

		
	 Item 2: Proposed Lender:
	 	 Citigroup Global Markets Realty Corp.

		
	 Item 3: Type of Lender:
	 	  ̈ Conduit Lender
 x Institutional Lender

		
	 Item 4:
	 	 Commitment - $100,000,000
 Commitment Termination Date: August 7, 2007

		
	 Item 5: Name of Lender Agent (if a Conduit Lender): N/A
	 	 

  
 [Remainder of Page
Intentionally Left Blank] 
  

	Item 6:	Signatures of Parties to Agreement: 

  

					
	CITIGROUP GLOBAL MARKETS REALTY CORP., as Proposed Lender
		
	 By:
	 	 /s/ Jamie Viceconte

	 	 	 Name:
	 	 Jamie Viceconte

	 	 	 Title:
	 	 Vice President

  
 Joinder Supplement

  

					
	 ACS FUNDING TRUST I, as Borrower,

		
	 By:
	 	 /s/ Malon Wilkus

	 	 	 Name:
	 	 Malon Wilkus

	 	 	 Title:
	 	 Beneficiary Trustee

  
 Joinder Supplement

  

					
	 WACHOVIA CAPITAL MARKETS, LLC,
 as Deal Agent

		
	 By:
	 	 /s/ Paul A. Burkhart

	 	 	 Name:
	 	 Paul A. Burkhart

	 	 	 Title:
	 	 Vice President

  
 Joinder Supplement

  

					
	CITIGROUP GLOBAL MARKETS REALTY CORP., as an Institutional Lender
		
	 By:
	 	 /s/ Jamie Viceconte

	 	 	 Name:
	 	 Jamie Viceconte

	 	 	 Title:
	 	 Vice President

  
 Joinder Supplement

  

 Acknowledged and agreed in accordance with Section 2.1(e) of the Agreement: 
  

					
	 JPMORGAN CHASE BANK

		
	 By:
	 	 /s/ Christine Herrick

	 Name:
	 	 Christine Herrick

	 Title:
	 	 Vice President

  
 Joinder Supplement

  

 SCHEDULE II TO  
 JOINDER SUPPLEMENT 
  
 ADDRESS FOR NOTICES 
 AND  
 WIRE INSTRUCTIONS 
  

			
	 Address for Notices:
	  	 Citigroup Global Markets Realty Corp.
 390 Greenwich Street
 6th Floor
 New York, NY 10013
 Attention: Christian Anderson
 Telephone: (212) 723-9714
 Facsimile: (212) 723-8591
 email:christian.anderson@citigroup.com

		
	 Wire Instructions:
	  	 Name of Bank: Chase Manhattan Bank
 A/C No.:066-612187
 ABA No.021000021
 Reference:Citigroup Global Markets Realty
Corp.

  

 SCHEDULE III TO  
 JOINDER SUPPLEMENT 
  
 JOINDER EFFECTIVE NOTICE 
  
 To: 
  

			
	 ACS FUNDING TRUST I
 c/o American Capital Strategies, Ltd.
 2 Bethesda Metro Center, 14th Floor
 Bethesda, Maryland 20814
 Attention: Compliance Officer
 Facsimile No.: (301) 654-6714
 Confirmation No.: (301) 951-6122
	 	 CITIGROUP GLOBAL MARKETS
 REALTY CORP.
 390 Greenwich Street
 6th Floor
 New York, NY 10013
 Attention: Christian Anderson
 Facsimile No.: (212) 723-8591
 Confirmation No.: (212) 723-9714

  
 The undersigned, as
Deal Agent under the Second Amended and Restated Loan Funding and Servicing Agreement, dated as of August 10, 2004, by and among the Borrower, American Capital Strategies, Ltd., as the servicer, the Conduit Lenders and Institutional Lenders from
time to time party thereto, the Lender Agents from time to time party thereto, the Deal Agent, JPMorgan Chase Bank, as the swingline lender, and Wells Fargo Bank, National Association, as the backup servicer and as the collateral custodian,
acknowledges receipt of an executed counterpart of a completed Joinder Supplement and consents to the addition of Citigroup Global Markets Realty Corp. as a Lender under the Agreement. Terms defined in such Joinder Supplement are used herein as
therein defined. 
  
 Pursuant to such Joinder Supplement, you are
advised that the Joinder Effective Date for Citigroup Global Markets Realty Corp. will be August 27, 2004 and such Proposed Lender will be a Lender designated as an Institutional Lender with a Commitment of $100,000,000. 
  

					
	 Very truly yours,

	
	 WACHOVIA CAPITAL MARKETS, LLC,
 as Deal Agent

		
	 By:
	 	 /s/ Paul A. Burkhart

	 	 	 Name:
	 	 Paul A. Burkhart

	 	 	 Title:
	 	 Vice President

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