Document:

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                                                                   Exhibit 10.23

                     REAL ESTATE PURCHASE AND SALE CONTRACT

          THIS REAL ESTATE PURCHASE AND SALE CONTRACT ("Agreement") is made and
entered into this 9th day of June, 2005, by and between MAGNIFI, LLC, an Indiana
limited liability company (referred to herein as "Seller), and TOWER BANK AND
TRUST COMPANY, an Indiana corporation (referred to herein as "Buyer").

                              PRELIMINARY STATEMENT

          Seller is the owner of certain real property and improvements thereon
situated in the County of Allen, State of Indiana, and is willing to sell such
real property to Buyer, and Buyer is willing to purchase such real property and
improvements from Seller, upon the terms and conditions hereinafter set forth.

          NOW, THEREFORE, in consideration of the mutual covenants and
agreements herein contained and for other good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, the parties hereto
hereby agree as follows:

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Definitions. Certain terms used herein are defined in this Section 1; other
terms are defined within the text of this Agreement.

"Closing" shall mean the consummation of the purchase and sale of the Premises
in accordance with the terms of this Agreement upon completion of all conditions
precedent herein required. "Earnest Money Deposit" shall mean the TWENTY-FIVE
THOUSAND AND NO/100 DOLLARS ($25,000.00) deposit on the Purchase Price given by
Buyer to Seller, contemporaneously with the execution of this Agreement.

"Premises" shall mean that certain parcel of real property and improvements
thereon located in Allen County, Indiana, as presently identified by legal
description on Exhibit "A" attached hereto and made a part hereof. The full
legal description of the Premises shall be noted on the survey to be provided by
Seller as hereinafter required. Said Premises include all buildings,
improvements, fixtures, tenements, hereditaments and appurtenances belonging or
in any wise appertaining to such real property.

"Purchase Price" shall mean the Purchase Price for the Premises in the aggregate
sum of ONE MILLION TWO HUNDRED THOUSAND AND NO/100 DOLLARS ($1,200,000.00).

"Title Commitment" shall mean the commitment issued by an ALTA approved title
insurance company ("Title Company") selected by Seller and approved by Buyer,
which approval shall not be unreasonably withheld, in which the Title Company
commits itself to issue to Buyer an Owner's Policy of Title Insurance upon
demand in the full amount of the Purchase Price, setting forth the state of the
title to the Premises and subject only to those "permitted exceptions"
hereinafter described.

Purchase and Sale of Property. Subject to the terms, provisions and conditions
set forth herein, Seller hereby agrees to sell the Premises to Buyer, and Buyer
hereby agrees to purchase the Premises from Seller.

Purchase Price for Premises. The Purchase Price for the Premises shall be
payable in the following manner:

Earnest Money Deposit. Contemporaneously with the execution of this Agreement,
Buyer has deposited with Seller the sum of TWENTY-FIVE THOUSAND AND NO/100
DOLLARS ($25,000.00) as the Earnest Money Deposit.

Balance of Purchase Price. The balance of the Purchase Price, subject to such
adjustments, credits, deductions and prorations, if any, as herein required,
shall be paid in cash at Closing.

Survey of Premises. Promptly after execution hereof, Buyer may order and
procure, at the expense of Buyer, a boundary survey of the Premises showing the
location, area and dimensions of all improvements, easements, streets, roads,
flood hazard areas and alleys on or abutting said Premises, and providing a
legal description of the Premises with such certifications as Buyer deems
appropriate, including, but not limited to, an ALTA/ACSM certification.

                               Title to Premises.

State of Title to be Conveyed. At the Closing, Seller shall convey to Buyer, by
a special or limited warranty deed in which Seller warrants as to its own acts
affecting title, fee simple title to the Premises, free from all liens,
encumbrances, restrictions, rights-of-way and other matters, excepting only the
"permitted exceptions" described as follows: (i) the lien of general real estate
taxes not yet due and payable, subject to proration of taxes as hereinafter
provided; (ii) liens or encumbrances of a definite or ascertainable amount and
which will be paid and discharged in full by or for Seller at or prior to the
Closing; (iii) the easements, restrictions and covenants described in Section
14(a) of this Agreement; and (iv) zoning ordinances, easements, visible or of
record, matters disclosed by the survey, and other restrictions and limitations
of record

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provided the same do not prevent or materially interfere with Buyer's
intended use of the Premises.

Title Insurance Commitment and Policy. Promptly after the execution hereof,
Seller shall order and procure the Title Commitment, at the expense and for the
account of Seller. At the Closing, a Policy of Title Insurance or an endorsement
to the Title Commitment shall be issued to Buyer insuring Buyer's fee simple
interest in the Premises in the state required by Section 5(a) above, and
subject only to the printed exceptions therein contained and the "permitted
exceptions." Seller shall pay for all charges and costs of such Title Insurance
Policy.

Objections to State of Title. If title to the Premises is not in the state
required by Subsection 5(a) above, Buyer shall give written notice to Seller
within ten (10) business days after the date it receives the Title Commitment
and survey, specifying its objection(s) to the state of title to the Premises.
Seller shall thereupon have a period of ten (10) days in which it shall use its
best efforts to remedy the objection(s) or to induce the Title Company to issue
an endorsement to the Title Commitment insuring over or removing such
objection(s). If Buyer's objection(s) to the state of title to the Premises are
not remedied by Seller within such ten (10) day period, then Buyer shall have
the right, within ten (10) days thereafter, to give written notice to Seller
that Buyer waives such title defects or objections and elects to proceed to
acquire the Premises without any abatement of the Purchase Price and to take
title to the Premises subject to such defects or objections; otherwise, this
Agreement shall be automatically cancelled and rescinded, the Earnest Money
Deposit shall be refunded to Buyer by the Seller, and the rights and obligations
of the parties hereto shall thereupon cease.

Seller's Covenants, Warranties and Representations. Seller hereby covenants,
warrants and represents as follows:

That Seller owns fee simple marketable title to the Premises, has the authority
to enter into and consummate this Agreement and the transaction herein intended.

That Seller shall promptly complete and perform those conditions to be performed
by Seller which are required under the terms of this Agreement.

Proration of Real Estate Taxes. Seller shall pay all real property taxes and any
general and/or special assessments which are due and payable, if any, on or
before the date of the Closing, or which otherwise constitute a lien upon the
Premises as of the date of the Closing. Buyer shall assume and pay all
subsequent real property taxes and any general and/or special assessments which
are due and payable after the date of Closing.

                                    Closing.

Closing shall take place no later than thirty (30) days after Buyer has obtained
the survey and Title Commitment in the state herein required, unless extended in
writing by mutual agreement of the parties hereto. The Closing shall occur at
the offices of the Title Company, or at such other place as agreed by Buyer and
Seller. Buyer and Seller agree to deposit with Title Company not later than the
date of the Closing all executed documents required in connection with this
transaction, including such documents as requested by the Title Company issuing
the Title Policy. Upon receipt of all necessary documents, receipt of the
Purchase Price by Seller, and when the Title Company is in a position to issue
to Buyer a Policy of Title Insurance, Title Company shall on the date of the
Closing, upon instructions from Buyer and Seller, cause the deed to the Premises
and any other necessary or appropriate instruments to be filed for record. The
Earnest Money Deposit shall be applied toward the Purchase Price at Closing.
Seller hereby agrees that it shall be solely liable for and shall pay for: (i)
the issuance of the Title Commitment required under Subsection 5(b) hereof; and
(ii) the premium charged for the

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issuance of said ALTA owner's title policy issued pursuant to said commitment.
Buyer hereby agrees that it shall be solely liable for and shall pay for the
cost of the survey described in Section 4 hereof, its attorney and consultant
fees and all other fees and expenses incurred by Buyer to acquire the Premises
not specifically allocated to Seller by this Agreement. Each party shall be
responsible for its other costs and expenses in accordance with the obligations
or conditions to be performed by each respective party hereto. At the time of
Closing, Seller and Buyer shall execute and deliver a closing statement setting
forth said Purchase Price, with such closing adjustments thereto as may be
applicable.

Remedies Upon Default. In the event Buyer breaches or defaults under any of the
terms of this Agreement, Seller shall be entitled to retain the Earnest Money
Deposit as its sole remedy at law or in equity. In the event Seller breaches or
defaults under any of the terms of this Agreement, Buyer shall have the right to
terminate this Agreement and receive a refund of the Earnest Money Deposit or,
in the alternative, Buyer shall have the right to compel specific performance of
this Agreement and the right to recover Buyer's attorney fees and court costs
incurred in a suit in which Buyer receives an order to compel specific
performance of this Agreement.

Notices. All notices, elections, requests and other communications hereunder
shall be in writing and shall be deemed sufficiently given when personally
delivered or when deposited in the United mail, postage prepaid, certified or
registered, or when delivered to a nationally recognized overnight courier
service with guaranteed next business day delivery and addressed as follows (or
to such other person, or to such other address, of which any party hereto shall
have given written notice as provided herein):

                  IF TO SELLER:  MagniFI LLC
                                         6721 Old Trail Road
                                         Suite 100
                                         Fort Wayne, Indiana 46809
                                         Attn: Michael Romary

                  IF TO BUYER:   Tower Bank and Trust Company
                                         116 East Berry Street
                                         Fort Wayne, Indiana 46802
                                         Attn: Michael Cahill

Brokerage Commission. Seller and Buyer each warrant and represent that there are
no finders or brokers entitled to fees or commissions which may be due from the
introduction of the Seller and Buyer and/or the purchase and sale of the
Premises.

Eminent Domain. In the event that, prior to the date of the Closing, Seller
acquires knowledge of any pending or threatened claim, suit or proceeding to
condemn or take all or any part of the Premises under the power of eminent
domain, then Seller shall immediately give notice thereof to Buyer, and Buyer
shall have the right to terminate its obligations under this Agreement by
delivering notice thereof to Seller within ten (10) days after receiving notice
from Seller of such condemnation or taking, and thereupon the Earnest Money
Deposit shall be refunded to Buyer and the rights and obligations of the parties
hereto shall cease. If Buyer shall not elect to terminate this Agreement
pursuant to this Section 12, the parties shall proceed with the Closing in
accordance with the terms hereof without abatement of the Purchase Price, but
all proceeds of any condemnation award shall be payable solely to Buyer, and
Seller shall have no interest therein.

Indiana Responsible Property Transfer Law. Buyer and Seller acknowledge that the
transactions contemplated by this Agreement may be subject to the provisions of
the Indiana Responsible

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Property Transfer Law (Ind. Code 13-25-3-1, et seq.). Seller agrees that it
shall either (a) comply with the provisions of the Indiana Responsible Property
Transfer Law and provide the Buyer and Buyer's Lender, if any, with a
"disclosure document" as and when required by the Indiana Responsible Property
Transfer Law, or (b) provide the Buyer with a certification on or before Closing
that the transaction contemplated by this Agreement is not subject to the
provisions of the Indiana Responsible Property Transfer Law.

                                 Miscellaneous.

Tower Bank Declaration. The Premises shall be conveyed to Buyer from Seller
subject to the Tower Park Declaration of Easements, Covenants and Restrictions
attached hereto as Exhibit B.

Agreement Binding. This Agreement shall be binding upon and shall inure to the
benefit of the Seller and Buyer and their respective successors and assigns.

Headings and Captions. The several headings and captions of the Sections and
Subsections used herein are for convenience or reference only and shall, in no
way, be deemed to limit, define or restrict the substantive provisions of this
Agreement.

Entire Agreement. This Agreement constitutes the entire agreement of Buyer and
Seller with respect to the purchase and sale of the Premises superseding any
prior or contemporaneous agreement with respect thereto. No amendment or
modification of this Agreement shall be binding upon the parties unless made in
writing and signed by both Seller and Buyer.

Governing Law. This Agreement and the rights of the parties hereunder shall be
governed by and construed in accordance with the laws of the State of Indiana.

Execution of Agreement. This Agreement has been executed by Buyer and delivered
to Seller, this 9th day of June, 2005. Unless an original of this Agreement,
fully executed by the Seller hereof, has been delivered to Buyer on or before
11:59 p.m., June 13th , 2005, this Agreement shall be null and void, without
liability of any type or nature to Buyer.

          IN WITNESS WHEREOF, the parties hereto have executed this Real Estate
Purchase and Sale Contract on the day, month and year set forth below.

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     Executed by Buyer this 9th day of June, 2005.

                        TOWER BANK AND TRUST COMPANY,
                        an Indiana corporation

                        By:
                           --------------------------------------------------

                        Printed:
                                ------------------------------------

                        Its:
                            -------------------------------------------------

                                        "Buyer"

     Accepted and executed by Seller this 13th day of June, 2005.

                        MAGNIFI LLC,
                        an Indiana limited liability company

                        By:
                           --------------------------------------------------

                        Printed:
                                ------------------------------------

                        Its:
                            -------------------------------------------------

                                        "Seller"

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                                    EXHIBIT A

                          LEGAL DESCRIPTION OF PREMISES

Lot number 49 and lot number 50 except the east 70 feet of said lot number 50 in
Liberty Garden Addition to the City of Fort Wayne, as recorded in Plat Record 8,
page 61.

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                                    EXHIBIT B

                            TOWER PARK DECLARATION OF
                      EASEMENTS, RESTRICTIONS AND COVENANTS<PAGE>

                                                                  EXHIBIT 4.3(F)

                                                               EXECUTION VERSION

            SIXTH AMENDMENT AND CONSENT TO FINANCING AGREEMENT

            Sixth Amendment AND CONSENT TO Financing Agreement, dated as of July
5, 2005 (this "Amendment"), to the Amended and Restated Financing Agreement,
dated as of September 4, 2003, as amended by the First Amendment to Financing
Agreement, dated as of November 23, 2004, the Second Amendment to Financing
Agreement, dated as of April 13, 2005, the Third Amendment and Consent to
Financing Agreement, dated as of May 30, 2005, the Fourth Amendment and Consent
to Financing Agreement, dated as of June 22, 2005, and the Fifth Amendment and
Consent to Financing Agreement, dated as of June 27, 2005 (such agreement as
amended, and as further amended, restated or otherwise modified from time to
time, being hereinafter referred to as the "Financing Agreement"), by and among
Allied Holdings, Inc., a Georgia corporation (the "Parent"), Allied Systems,
Ltd. (L.P.), a Georgia limited partnership ("Allied Systems" and together with
the Parent, each a "Borrower" and collectively, the "Borrowers"), each
subsidiary of the Parent listed as a "Guarantor" on the signature pages thereto,
the lenders from time to time party thereto (each a "Lender" and collectively,
the "Lenders"), Ableco Finance LLC, a Delaware limited liability company, as
collateral agent for the Lenders (in such capacity, the "Collateral Agent"), and
Wells Fargo Foothill, Inc., a California corporation, formerly known as Foothill
Capital Corporation, as administrative agent for the Lenders (in such capacity,
the "Administrative Agent" and, together with the Collateral Agent, each an
"Agent" and collectively, the "Agents").

                              W I T N E S S E T H:

            WHEREAS, the Borrowers have requested that the Required Lenders
amend the Financing Agreement to (i) modify the multiplier contained in Section
2.01(b)(iv) of the Financing Agreement for the period beginning on the date
hereof and ending on July 11, 2005 (the "Termination Date") and (ii) consent to
and waive the Event of Default arising under the Financing Agreement as a result
of noncompliance with Section 7.03(b) of the Financing Agreement requiring
minimum Consolidated EBITDA of the Parent and its Subsidiaries for the
consecutive twelve month period ending May 31, 2005 to equal or exceed
$44,844,000; and the Required Lenders are willing to so amend the Financing
Agreement and to waive such Event of Default, but, in each case, only subject to
the terms and conditions set forth in this Amendment.

            NOW, THEREFORE, in consideration of the premises and of the mutual
covenants, agreements and conditions hereinafter set forth, and for other good
and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto hereby agree as follows:

            1.    Definitions. All terms used herein that are defined in the
Financing Agreement and not otherwise defined herein are used herein as defined
therein.

            2.    Amendment to Financing Agreement. Section 2.01(b)(iv) of the
Financing Agreement is hereby amended and restated in its entirety to read as
follows:

                  "The aggregate principal amount of the Loans and Letter of
                  Credit Obligations shall not at any time exceed (A) an amount
                  equal to (x) three and one quarter (3.25) multiplied

<PAGE>

                  by (y) the Consolidated EBITDA of the Parent and its
                  Subsidiaries for the most recently completed twelve months
                  after giving effect, if any, to the pro forma adjustments set
                  forth in Schedule 2.01(b)(iv) or (B) the maximum principal
                  amount of Indebtedness which is permitted to be incurred by
                  the Parent and its Subsidiaries under clause (i) of the second
                  paragraph of Section 4.09 of the Indenture less all
                  outstanding Capital Lease Obligations (as defined in the
                  Indenture) incurred under such clause (i), provided, however,
                  that solely for the period commencing on May 1, 2005 and
                  ending on July 11, 2005, the aggregate principal amount of the
                  Loans and Letter of Credit Obligations shall not at the end of
                  any Business Day exceed (A) an amount equal to (x) four (4.00)
                  multiplied by (y) the Consolidated EBITDA of the Parent and
                  its Subsidiaries for the most recently completed twelve months
                  after giving effect, if any, to the pro forma adjustments set
                  forth in Schedule 2.01(b)(iv) or (B) the maximum principal
                  amount of Indebtedness which is permitted to be incurred by
                  the Parent and its Subsidiaries under clause (i) of the second
                  paragraph of Section 4.09 of the Indenture less all
                  outstanding Capital Lease Obligations (as defined in the
                  Indenture) incurred under such clause (i)."

            3.    Other Agreements. Without any prejudice or impairment
whatsoever to any of the rights and remedies of the Agents or the Lenders
contained in the Financing Agreement or in any other Loan Documents, the Loan
Parties covenant and agree with the Agents and the Lenders (the occurrence of,
the failure to comply with, or the inaccuracy thereof (as applicable), shall
constitute an immediate Event of Default) that:

            (a)   As of the close of business on July 1, 2005, the outstanding
aggregate principal amount of the Loans is equal to $131,273,658.72 of which
$17,723,560.85 constitutes Revolving Loans, $68,550,097.87 constitutes the Term
Loans, $20,000,000 constitutes the Supplemental Term Loans and $25,000,000
constitutes the Additional Supplemental Term Loans, and the outstanding,
aggregate amount of Letter of Credit Obligations is equal to $43,695,036.45;

            (b)   (i)   for the period commencing on the date of this Amendment
through and including the Termination Date, (i) the aggregate outstanding
principal amount of Revolving Loans as of the end of each Business Day shall not
exceed $19,623,000, and (ii) the Agents and the Lenders shall have no obligation
to make any additional Loans in excess of such amount, and the making of any
additional Loans or other extensions of credit to any Loan Party in excess of
such amount, if any, shall be at the sole and absolute discretion of each of the
Agents and the Lenders;

            (c)   commencing on the date hereof and continuing until the
Termination Date, the Letter of Credit Obligations shall not exceed
$43,695,036.45 and the Agents and the Lenders

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shall have no obligation to issue or otherwise establish (or assist in
establishing) any additional Letters of Credit (including any renewals,
increases in or other extensions of any existing Letters of Credit);

            (d)   for the period commencing on the date of this Amendment until
the earlier of the Termination Date and the occurrence of any Event of Default,
all of the Obligations shall accrue at a rate of interest per annum equal to the
rate of interest otherwise in effect from time to time pursuant to the terms of
the Financing Agreement plus 3.0%, or, if a rate of interest is not otherwise in
effect, interest at the highest rate specified therein for any Loan then
outstanding prior to an Event of Default plus 3.0%;

            (e)   each of the following events shall constitute an additional
Event of Default under the Financing Agreement: (i) since December 31, 2004, the
occurrence of any of the following (to the extent not otherwise disclosed by the
Parent to the Agents in writing prior to May 30, 2005): any material adverse
effect on any of (A) the operations, business, assets, properties, prospects or
condition (financial or otherwise) of any Borrower or of the Loan Parties taken
as a whole, as determined by any Agent in its sole discretion or (B) the
industries, businesses or markets within which Parent or any of its Subsidiaries
or its customers operate or otherwise conduct business, in each case, as
determined by any Agent in its sole discretion, (ii) since December 31, 2004,
the occurrence of any of the following (to the extent not otherwise disclosed by
the Parent to the Agents in writing prior to May 30, 2005): any material
disruption or general adverse developments in the financial, banking or capital
markets, as determined by any Agent in its sole discretion, and (iii) any Loan
Party or any Affiliate thereof or any Person or entity claiming by or through
such Loan Party or other Person joins in, assists, cooperates or participates as
an adverse witness (except under subpoena) in any suit or other judicial
proceeding against any Agent or Lender or any of their Affiliates relating to
the Obligations or any amounts owing in connection with or related to any of the
transactions contemplated by the Financing Agreement, this Amendment or the
other Loan Documents or any document, agreement, or instrument executed in
connection with any of the foregoing;

            (f) commencing on the date of this Amendment and through and
including the Termination Date, the Parent will, on each Business Day at the
earlier of (x) 12:00 noon (New York City time) and (y) the delivery of a Notice
of Borrowing, deliver to the Agents, a certificate from the Chief Executive
Officer, the Chief Financial Officer, the Treasurer, or any Vice President of
the Parent, certifying as to the aggregate outstanding principal amount of the
Revolving Loans and the Letter of Credit Obligations and the Term Loan, the
Supplemental Term Loan and the Additional Supplemental Term Loan, as of the end
of business on the immediately preceding Business Day, and containing such
detail and other information as any Agent may request from time to time;

            (g)   the Loan Parties shall comply with all of the terms, covenants
and provisions contained in the Financing Agreement and the other Loan Documents
(subject to any applicable grace periods set forth in the Financing Agreement),
as such terms, covenants and provisions are expressly modified by this Amendment
upon the terms set forth herein; and

            (h)   the Loan Parties shall at any time and from time to time
execute and deliver such further instruments and take such further action as any
Agent may reasonably

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request to effect the purposes of this Amendment, the Financing Agreement and
the other Loan Documents.

            4.    Representations and Warranties. Each Loan Party represents and
warrants to the Agents, the Lenders and the L/C Issuer as follows:

            (a)   Each Loan Party (i) is a corporation, limited liability
company or limited partnership duly organized, validly existing and in good
standing under the laws of the state, province or other applicable jurisdiction
of its organization, (ii) has all requisite power and authority to conduct its
business as now conducted and as presently contemplated, to execute and deliver
this Amendment and each Loan Document to which it is a party, and to consummate
the transactions contemplated thereby and, in the case of the Borrowers, to make
the borrowings under the Financing Agreement, and (iii) is duly qualified to do
business and is in good standing in each jurisdiction in which the character of
the properties owned or leased by it or in which the transaction of its business
makes such qualification necessary and where the failure to be so qualified
would reasonably be expected to have a Material Adverse Effect.

            (b)   The execution, delivery and performance by each Loan Party of
this Amendment and the performance by each Loan Party of the Financing
Agreement, as amended hereby, (i) have been duly authorized by all necessary
action, (ii) do not and will not contravene its charter or by-laws, its limited
liability company or operating agreement or its certificate of partnership or
partnership agreement, as applicable, or any applicable law or any contractual
restriction binding on or otherwise affecting it or any of its properties, (iii)
do not and will not result in or require the creation of any Lien (other than
pursuant to any Loan Document) upon or with respect to any of its properties,
and (iv) do not and will not result in any default, noncompliance, suspension,
revocation, impairment, forfeiture or nonrenewal of any permit, license,
authorization or approval applicable to its operations or any of its properties,
which, in the case of this clause (iv), is reasonably expected to have a
Material Adverse Effect.

            (c)   No authorization or approval or other action by, and no notice
to or filing with, any Governmental Authority is required as a condition to the
(i) due execution, delivery and performance by any Loan Party of this Amendment
or (ii) performance by each Loan Party of the Financing Agreement, as amended
hereby.

            (d)   Each of this Amendment and the Financing Agreement, as amended
hereby, and the other Loan Document to which any Loan Party is or will be a
party, when delivered hereunder, will be, a legal, valid and binding obligation
of such Person, enforceable against such Person in accordance with its terms,
except as may be limited by applicable bankruptcy, insolvency, reorganization,
moratorium or other similar laws and principles of equity.

            (e)   The representations and warranties contained herein, in
Article VI of the Financing Agreement and in each other Loan Document are true
and correct on and as of the date hereof as though made on and as of such date,
except to the extent that any such representation or warranty expressly relates
solely to an earlier date (in which case such representation or warranty shall
be true and correct on and as of such earlier date); and no

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Default or Event of Default shall have occurred and be continuing on the
Amendment Effective Date after giving effect to this Amendment in accordance
with its terms.

            5. Waiver and Consent.

            (a) Pursuant to the request of the Parent and in accordance with
Section 12.02 of the Financing Agreement, and in reliance upon the
representations, warranties and covenants contained in the Loan Documents, the
Required Lenders hereby consent to and waive any Event of Default that would
otherwise arise under the Financing Agreement as a result of any noncompliance
by the Loan Parties with Section 7.03(b) of the Financing Agreement by virtue of
the fact that the Consolidated EBITDA of the Parent and its Subsidiaries for the
twelve consecutive months ending on May 31, 2005 was $44,274,000.

            (b)   The waiver and consent in this Section 5 (x) shall,
notwithstanding the date of this Amendment, be effective as if such waiver and
consent were to have occurred on May 31, 2005, (y) shall be effective only in
this specific instance and for the specific purposes set forth herein, and (z)
does not allow for any other or further departure from the terms and conditions
of the Financing Agreement or any other Loan Document, which terms and
conditions shall remain in full force and effect.

            6. Effective Date. This Amendment shall be effective at the last to
occur of the following (the first date upon which all such conditions have been
satisfied being herein called the "Amendment Effective Date"):

            (a)   the date on which counterparts to this Amendment, signed by
each of the Loan Parties and the Required Lenders, have been executed and
delivered to the Collateral Agent;

            (b)   the date on which the Collateral Agent shall have received a
certificate of the chief executive officer or the chief financial officer of the
Parent, certifying as to the matters set forth in Section 6(c) hereof;

            (c)   each of the following shall be true: (i) the representations
and warranties of each Loan Party contained herein and in the other Loan
Documents shall be true and correct on and as of the Amendment Effective Date,
except to the extent such representations and warranties specifically relate to
an earlier date, in which case such representations and warranties shall have
been true and correct on and as of such earlier date, (ii) no Default or Event
of Default shall have occurred after giving effect to this Amendment, and (iii)
since December 31, 2004, except as otherwise disclosed in writing by the Parent
to the Collateral Agent on or prior to the Amendment Effective Date, (A) no
Material Adverse Effect shall have occurred and (B) there shall not have
occurred any event that may reasonably be expected to result in any event
described in paragraph 3(e) of this Amendment; and

            (d)   the date on which the Loan Parties shall have paid all fees
and expenses of the Agents related to this Amendment and the administration of
the Financing Agreement and the other Loan Documents, which have been invoiced
to the Parent on or prior to the date hereof.

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            7.    Ratification and Confirmation.

            (a)   Except as otherwise expressly provided herein, (i) the
Financing Agreement and the other Loan Documents are, and shall continue to be,
in full force and effect and are hereby ratified and confirmed in all respects,
except that on and after the Amendment Effective Date (A) all references in the
Financing Agreement to "this Agreement", "hereto", "hereof", "hereunder" or
words of like import referring to the Financing Agreement shall mean the
Financing Agreement as amended by this Amendment and (B) all references in the
other Loan Documents to the "Financing Agreement", "thereto", "thereof",
"thereunder" or words of like import referring to the Financing Agreement shall
mean the Financing Agreement as amended by this Amendment, (ii) to the extent
that the Financing Agreement or any other Loan Document purports to pledge to
the Collateral Agent, or to grant to the Collateral Agent, a security interest
in or lien on any collateral as security for the Obligations or Guaranteed
Obligations, such pledge or grant of a security interest or lien is hereby
ratified and confirmed in all respects, and (iii) except as expressly agreed to
in this Amendment, the execution, delivery and effectiveness of this Amendment
shall not operate as an amendment of any right, power or remedy of the Agents or
the Lenders under the Financing Agreement or any other Loan Document, nor
constitute an amendment of any provision of the Financing Agreement or any other
Loan Document.

            (b)   Except as expressly set forth herein, this Amendment is not a
waiver of, or consent to, any Default or Event of Default now existing or
hereafter arising under the Financing Agreement or any other Loan Document and
the Agents and the Lenders expressly reserve all of their rights and remedies
under the Financing Agreement and the other Loan Documents, under applicable law
or otherwise.

            8.    Release. Each Loan Party hereby acknowledges and agrees that:
(a) neither it nor any of its Affiliates has any claim or cause of action
against any Agent, any Lender or the L/C Issuer (or any of their respective
Affiliates, officers, directors, employees, attorneys, consultants or agents)
and (b) each Agent, each Lender and the L/C Issuer has heretofore properly
performed and satisfied in a timely manner all of its obligations to the Loan
Parties and their Affiliates under the Financing Agreement and the other Loan
Documents. Notwithstanding the foregoing, the Agents, the Lenders and the L/C
Issuer wish (and the Loan Parties agree) to eliminate any possibility that any
past conditions, acts, omissions, events or circumstances would impair or
otherwise adversely affect any of the Agents', the Lenders' and the L/C Issuer's
rights, interests, security and/or remedies under the Financing Agreement and
the other Loan Documents. Accordingly, for and in consideration of the
agreements contained in this Amendment and other good and valuable
consideration, each Loan Party (for itself and its Affiliates and the
successors, assigns, heirs and representatives of each of the foregoing)
(collectively, the "Releasors") does hereby fully, finally, unconditionally and
irrevocably release and forever discharge each Agent, each Lender and the L/C
Issuer and each of their respective Affiliates, officers, directors, employees,
attorneys, consultants and agents (collectively, the "Released Parties") from
any and all debts, claims, obligations, damages, costs, attorneys' fees, suits,
demands, liabilities, actions, proceedings and causes of action, in each case,
whether known or unknown, contingent or fixed, direct or indirect, and of
whatever nature or description, and whether in law or in equity, under contract,
tort, statute or otherwise, which any Releasor has heretofore had or now or
hereafter can, shall or may have against any Released Party by reason

                                       6
<PAGE>

of any act, omission or thing whatsoever done or omitted to be done on or prior
to the Amendment Effective Date arising out of, connected with or related in any
way to this Amendment, the Financing Agreement or any other Loan Document, or
any act, event or transaction related or attendant thereto, or the agreements of
any Agent, any Lender or the L/C Issuer contained therein, or the possession,
use, operation or control of any of the assets of any Loan Party, or the making
of any Loans or other advances, or the management of such Loans or advances or
the Collateral.

            9.    Indemnity and Expenses. Each Loan Party hereby agrees (a) to
indemnify and hold harmless the Agents, each Lender and their shareholders,
partners, members, officers and representatives (each an "Indemnified Person")
from and against any and all claims, damages, liabilities and expenses,
including, without limitation, attorneys' fees and disbursements, which may be
incurred by or asserted against any such Indemnified Person in any
investigation, litigation, suit or action arising out of or relating to (i) the
release pursuant hereto of any security interest, lien, encumbrance or other
charge granted to the Collateral Agent or (ii) the payment of any of the
Obligations or Guaranteed Obligations as provided herein; (b) to pay all costs
and expenses in connection with the preparation, execution, delivery, filing and
recording of this Agreement, and the performance of any other acts and the
execution of any other documents required to effect the release of any security
pursuant hereto, including, without limitation, the fees and disbursements of
counsel to the Agents; and (c) to pay any and all stamp and other transfer or
filing taxes and fees payable or determined to be payable in connection with the
execution and delivery hereof or any release document pursuant hereto, and to
hold each Indemnified Person harmless from and against any and all liabilities
with respect to or resulting from any delay in paying or omission to pay such
taxes or fees.

            10.   Miscellaneous.

            (a)   This Amendment may be executed in any number of counterparts
and by the different parties hereto in separate counterparts, each of which
shall be deemed to be an original, but all of which taken together shall
constitute one and the same agreement. Delivery of an executed counterpart of
this Amendment by facsimile or electronic mail shall be equally effective as
delivery of an original executed counterpart.

            (b)   Section and paragraph headings herein are included for
convenience of reference only and shall not constitute a part of this Amendment
for any other purpose.

            (c)   This Amendment shall be governed by and construed in
accordance with the law of the State of New York applicable to contracts made
and to be performed within such state.

            (d)   The Loan Parties hereby acknowledge and agree that this
Amendment constitutes a "Loan Document" under the Financing Agreement.
Accordingly, it shall be an Event of Default under the Financing Agreement if
(i) any representation or warranty made by the Borrowers under or in connection
with this Amendment shall have been untrue, false or misleading in any material
respect when made, or (ii) the Loan Parties shall fail to perform or observe any
term, covenant or agreement contained in this Amendment.

                                       7
<PAGE>
                [remainder of this page intentionally left blank]

                                       8
<PAGE>

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

                                    BORROWERS:

                                    ALLIED HOLDINGS, INC.

                                    By: ________________________________________
                                        Name:
                                        Title:

                                    ALLIED SYSTEMS, LTD. (L.P.)

                                    By: Allied Automotive Group, Inc.

                                    By: ________________________________________
                                        Name:
                                        Title:

                                    GUARANTORS:

                                    ALLIED AUTOMOTIVE GROUP, INC.
                                    ALLIED FREIGHT BROKER, LLC
                                    ALLIED SYSTEMS (CANADA) COMPANY
                                    AXIS ARETA, LLC
                                    AXIS CANADA COMPANY
                                    AXIS GROUP, INC.
                                    AXIS NETHERLANDS, LLC
                                    COMMERCIAL CARRIERS, INC.
                                    CORDIN TRANSPORT, LLC
                                    CT SERVICES, INC.
                                    F.J. BOUTELL DRIVEAWAY LLC
                                    GACS INCORPORATED
                                    KAR-TAINER INTERNATIONAL, LLC
                                    QAT, INC.
                                    RMX LLC
                                    TERMINAL SERVICE LLC
                                    TRANSPORT SUPPORT, LLC

                                    By: ________________________________________
                                        Name:
                                        Title:

                     SIXTH AMENDMENT TO FINANCING AGREEMENT

<PAGE>

                                    COLLATERAL AGENT AND LENDER:

                                    ABLECO FINANCE LLC

                                    By: ________________________________________
                                        Name:
                                        Title:

                     SIXTH AMENDMENT TO FINANCING AGREEMENT

<PAGE>

                                    ADMINISTRATIVE AGENT AND LENDER:

                                    WELLS FARGO FOOTHILL, INC., formerly
                                    known as Foothill Capital Corporation

                                    By: ________________________________________
                                        Name:
                                        Title:

                     SIXTH AMENDMENT TO FINANCING AGREEMENT

<PAGE>

                                    LENDERS:

                                    A3 FUNDING LP

                                    By: A3 Fund Management LLC,
                                        its General Partner

                                    By: ________________________________________
                                        Name:
                                        Title:

                                    STYX INTERNATIONAL, LTD.

                                    By: Partridge Hill Overseas Management, LLC,
                                        as Investment Manager

                                    By: ________________________________________
                                        Name:
                                        Title:

                                    THE LONG HORIZONS OVERSEAS FUND,
                                    LTD.

                                    By: Old Stand Management, L.L.C.,
                                        as Investment Manager

                                    By: ________________________________________
                                        Name:
                                        Title:

                     SIXTH AMENDMENT TO FINANCING AGREEMENT

<PAGE>

                                    A4 FUNDING LP

                                    By: A4 Fund Management Inc.,
                                        its General Partner

                                    By: ________________________________________
                                        Name:
                                        Title:

                     SIXTH AMENDMENT TO FINANCING AGREEMENT

<PAGE>

                                    ADAMS STREET CBO 1998-1, LTD.

                                    By: ________________________________________
                                        Name:
                                        Title:

                                    1888 FUND, LTD.

                                    By: Guggenheim Investment Management,
                                        LLC as Collateral Manager

                                    By: ________________________________________
                                        Name:
                                        Title:

                                    FORTWIRTH CDO LTD.

                                    By: ________________________________________
                                        Name:
                                        Title:

                                    MAGMA CDO LTD.

                                    By: ________________________________________
                                        Name:
                                        Title:

                     SIXTH AMENDMENT TO FINANCING AGREEMENT

<PAGE>

                                    STELLAR FUNDING, LTD.

                                    By: ________________________________________
                                        Name:
                                        Title:

                                    UPPER COLUMBIA CAPITAL COMPANY,
                                    LLC

                                    By: ________________________________________
                                        Name:
                                        Title:

                     SIXTH AMENDMENT TO FINANCING AGREEMENT
<PAGE>

                           FORTRESS CREDIT
                           OPPORTUNITIES ILP

                           By: Fortress Credit Opportunities I GP LLC,
                           its general partner

                           By: ______________________________________________
                               Name:
                               Title:

                           DB SPECIAL OPPORTUNITIES LLC

                           By: Drawbridge Special Opportunities
                               Advisors LLC, its Authorized Signatory

                           By: ______________________________________________
                               Name:
                               Title

                           FORTRESS CREDIT
                           OPPORTUNITIES II LP

                           By: Fortress Credit Opportunities II GP LLC,
                           its general partner

                           By: ______________________________________________
                               Name:
                               Title:

                     SIXTH AMENDMENT TO FINANCING AGREEMENT

<PAGE>

                           CONGRESS FINANCIAL CORPORATION
                           (CENTRAL)

                           By: ______________________________________________
                               Name:
                               Title:

                     SIXTH AMENDMENT TO FINANCING AGREEMENT
<PAGE>

                           STANDARD FEDERAL BANK NATIONAL
                           ASSOCIATION

                           By: LaSalle Business Credit, LLC, a Delaware
                               Limited liability company, successor by
                               merger to LaSalle Business Credit, Inc., a
                               Delaware corporation, as Agent

                           By: ______________________________________________
                               Name:
                               Title:

                     SIXTH AMENDMENT TO FINANCING AGREEMENT

<PAGE>

                           TEXTRON FINANCIAL CORPORATION

                           By: ______________________________________________
                               Name:
                               Title:

                     SIXTH AMENDMENT TO FINANCING AGREEMENT

<PAGE>

                           HCM/Z SPECIAL OPPORTUNITIES LLC,
                           formerly known as HZ Special Opportunities
                           LLC

                           By: Highbridge Capital Management, LLC

                           By: ______________________________________________
                               Name:
                               Title:

                     SIXTH AMENDMENT TO FINANCING AGREEMENT

<PAGE>

                           BERNARD GLOBAL LOAN INVESTORS,
                           LTD., formerly known as Bernard Leveraged
                           Loan Investors, Ltd.

                           By: ______________________________________________
                               Name:
                               Title:

                           BERNARD NATIONAL LOAN INVESTORS,
                           LTD.

                           By: ______________________________________________
                               Name:
                               Title:

                     SIXTH AMENDMENT TO FINANCING AGREEMENT

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