Document:

FIRST AMENDMENT TO
                          WAREHOUSING CREDIT AGREEMENT

     THIS FIRST AMENDMENT TO WAREHOUSING CREDIT AGREEMENT  ("Amendment") is made
and entered into as of December 21, 2001, by and among PLM EQUIPMENT GROWTH FUND
VI, a California  limited  partnership ("EGF VI"), PLM EQUIPMENT GROWTH & INCOME
FUND VII, a  California  limited  partnership  ("EGF VII"),  PROFESSIONAL  LEASE
MANAGEMENT  INCOME FUND I, L.L.C., a Delaware limited liability company ("Income
Fund I"), and ACQUISUB,  LLC, a Delaware limited liability company  ("Acquisub")
(EGF VI,  EGF  VII,  Income  Fund I,  and  Acquisub  each  individually  being a
"Borrower" and,  collectively,  the  "Borrowers"),  and PLM FINANCIAL  SERVICES,
INC., a Delaware corporation and the sole general partner, in the case of EGF VI
and EGF VII,  and the sole  manager,  in the case of Income Fund I and  Acquisub
("FSI"),  the banks,  financial  institutions  and  institutional  lenders party
hereto and  defined as Lenders in the Loan  Agreement  (as defined  below),  and
COMERICA BANK-CALIFORNIA  ("Bank"),  successor by merger to IMPERIAL BANK not in
its individual capacity, but solely as agent (in such capacity, the "Agent").

                                    RECITALS

     A.  Borrowers  requested  and the  Lenders  agreed to extend and make loans
available to Borrowers upon the terms and  conditions  contained in that certain
Warehousing  Credit  Agreement  dated as of April  13,  2001,  by and  among the
Borrowers,   FSI,  Imperial  Bank,  as  agent  for  the  lenders  party  thereto
("Lenders"),  and the  Lenders  (as the same may  from  time to time be  further
modified, amended, supplemented, restated or superseded, the "Loan Agreement").

     B.  Imperial  Bank and Bank have entered into an agreement to merge whereby
Bank has acquired  substantially  all of the assets of Imperial  Bank,  Imperial
Bank has  assigned  substantially  all its rights,  including  all of its rights
under the Loan Agreement, to Bank, and Bank has assumed substantially all of the
obligations of Imperial Bank, including all of Imperial Bank's obligations under
the Loan Agreement.

     C. Borrowers have requested that the Lenders amend the Loan Agreement,  and
the Lenders are willing to do so on the terms and  conditions  set forth  herein
and in reliance of the representations and warranties set forth herein.

                                    AGREEMENT

     NOW,  THEREFORE,  in consideration of the foregoing recitals and the mutual
covenants  herein set forth and for other good and valuable  consideration,  the
receipt and  sufficiency of which are hereby  acknowledged,  and intending to be
legally bound, and to induce Agent and the Lenders to enter into this Amendment,
Borrowers and Agent hereby agree as follows:

     Section 1. Definitions.  Unless otherwise defined herein, all terms defined
in the Loan Agreement have the same meaning when used herein.

     Section 2. Amendments to Section 1.1. of the Loan  Agreement.  Section 1.1.
of the Loan Agreement is hereby amended as follows:

          2.1. The  definition  of "Change of Control" set forth on Section 1.1.
of the Loan  Agreement is deleted in its entirety and the  following is inserted
in lieu thereof:

          ""Change of Control" means: (i) the failure after December 21, 2001 of
Gary  Engle  or  Jim  Coyne,  directly  or  indirectly,   through  one  or  more
intermediaries,  to own, whether beneficially or as a trustee, guardian or other
fiduciary,  fifty-one  percent  (51%) or more of (x) the stock  having  ordinary
voting  power in the election of  directors  or (y) the  ownership  interests of
either FSI,  TEC,  Acquisub,  IMI or an  Affiliate  of IMI,  in its  capacity as
equipment  manager  for  any of  the  Equipment  Growth  Funds  (the  "Equipment
Manager"),  or any Owner Trustee, or (ii) the failure after December 21, 2001 of
Gary  Engle  or  Jim  Coyne,  directly  or  indirectly,   through  one  or  more
intermediaries,  to control FSI, TEC, Acquisub,  the Equipment  Manager,  or any
Owner Trustee. For purposes of this definition, "control" of FSI, TEC, Acquisub,
the Equipment Manager, or any Owner Trustee shall mean the possession,  directly
or  indirectly,  of the power to direct or cause the direction of its management
or policies,  whether through the ownership of voting securities, by contract or
otherwise."

          2.2 The definition of "Continuing  Director" set forth on Section 1.1.
of the Loan Agreement is deleted in its entirety.

          2.3 The following  definition is added to the list of definitions  set
forth on Section 1.1. of Loan Agreement, inserted in its respective alphabetical
sequence:

          "Credit  Agreement" means that certain Credit  Agreement,  dated as of
December 21, 2001, by and among EGF VI, Comerica Bank-California,  as agent, and
the banks,  financial  institutions and institutional  lenders from time to time
party thereto,  as the same may from time to time be further modified,  amended,
supplemented, restated or superseded."

     Section 3. Other Amendments to the Loan Agreement.

          3.1  Schedule A.  Schedule A of the Loan  Agreement  is deleted in its
entirety and Schedule A hereto is incorporated in the Loan Agreement as Schedule
A thereto.

          3.2 Section 6.1. The  following is inserted in Section 6.1 of the Loan
Agreement as a new section, Section 6.1.6, thereto:

          "6.1.6 Liens  granted by EGF VI in favor of Comerica  Bank-California,
as agent on behalf of Lenders (as defined in the Credit  Agreement)  pursuant to
the Security Documents (as defined in the Credit Agreement)."

          3.3 Section 6.3. The  following is inserted in Section 6.3 of the Loan
Agreement as a new section, Section 6.3.8, thereto:

          "6.3.8  Indebtedness  incurred  by  EGF  VI  pursuant  to  the  Credit
Agreement."

          3.4 Section 6.9.  Section 6.9 of the Loan  Agreement is deleted in its
entirety and the following is inserted in lieu thereof:

          "6.9 No  Investment.  No  Borrower  shall make or suffer to exist,  or
permit or suffer any of its Marine  Subsidiaries to make or suffer to exist, any
Investment  except as permitted by Section  6.8, the sharing  arrangements  with
respect to Equipment which are shared with Equipment Growth Funds, and equipment
owned  jointly  with  USPE's;  provided,  however,  that EGF VI may make  equity
investments in its USPE's in an aggregate amount not to exceed $6,000,000."

          3.5 Section 8.1.11. Section 8.1.11 of the Loan Agreement is deleted in
its entirety and the following is inserted in lieu thereof:

          "8.1.11 Change Of General Partner;  Equipment Manager.  Either (a) FSI
shall cease to be the sole general partner or sole manager of such Borrower,  as
applicable,   whether  due  to  the   voluntary   or   involuntary   withdrawal,
substitution,  removal or transfer of FSI from or of all or any portion of FSI's
general partnership  interest or capital  contribution in such Borrower;  or (b)
IMI or any  Affiliate  of IMI shall  cease to be the  equipment  manager of such
Borrower (in the case of the Equipment Growth Funds); or"

          3.6 Section 8.1.12. Section 8.1.12 of the Loan Agreement is deleted in
its entirety and the following is inserted in lieu thereof:

          "8.1.12 Change of Control. There occurs any Change of Control; or"

     Section 4. Comerica Bank-California,  successor by merger to Imperial Bank.
Each Loan  Document is hereby  amended so that all  references  to Imperial Bank
therein shall be references to Comerica Bank-California,  successor by merger to
Imperial Bank.

     Section 5.  Limited  Amendment.  Each of the  amendments  set forth in this
Amendment  shall be limited  precisely as written and shall not be deemed (a) to
be an  amendment  of any other term or  condition  of the Loan  Agreement or the
other Loan Documents, to prejudice any right or remedy which Agent or any Lender
may now have or may have in the  future  under  or in  connection  with the Loan
Agreement  or the other  Loan  Documents  or (b) to be a consent  to any  future
amendment.

     Section 6.  Representations  And Warranties.  Each Borrower  represents and
warrants that its respective  representations  and  warranties  made in the Loan
Documents  continue to be true and complete in all  material  respects as of the
date hereof after  giving  effect to this  Amendment  (except to the extent such
specifically  relate to another date or as specifically  described on Schedule B
attached  hereto  and  incorporated  herein  by this  reference)  and  that  the
execution,  delivery and performance of this Amendment are duly  authorized,  do
not  require the consent or  approval  of any  governmental  body or  regulatory
authority and are not in  contravention  of or in conflict with any material law
or regulation or any term or provision of any other material  agreement  entered
into by such Borrower.

     Section 7. Governing Law. Except as otherwise  expressly provided in any of
the Loan  Documents,  in all respects,  including  all matters of  construction,
validity and performance, this Amendment shall be governed by, and construed and
enforced in accordance  with, the laws of the State of California  applicable to
contracts  made and performed in such state,  without  regard to the  principles
thereof regarding conflict of laws, and any applicable laws of the United States
of America.

     Section 8. Full Force And Effect;  Entire  Agreement.  Except to the extent
expressly  provided  in this  Amendment,  the terms and  conditions  of the Loan
Agreement  and the other Loan  Documents  shall remain in full force and effect.
This  Amendment and the other Loan  Documents  constitute and contain the entire
agreement  of the parties  hereto and  supersede  any and all prior  agreements,
negotiations,  correspondence,  understandings  and  communications  between the
parties,  whether  written or oral,  respecting the subject  matter hereof.  The
parties  hereto  further  agree  that the Loan  Documents  comprise  the  entire
agreement of the parties  thereto and  supersede  any and all prior  agreements,
negotiations,  correspondence,  understandings and other communications  between
the parties thereto,  whether written or oral respecting the extension of credit
by the Lenders to the Borrowers and/or their affiliates.

     Section 9.  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 an original,  but all such
counterparts  together shall  constitute but one and the same  instrument.  Each
such agreement shall become effective upon the execution of a counterpart hereof
or thereof  by each of the  parties  hereto or  thereto,  delivery  of each such
counterpart to Agent.

<PAGE>

     WITNESS the due execution hereof by the respective duly authorized officers
of the undersigned as of the date first written above.

BORROWERS:              PLM EQUIPMENT GROWTH FUND VI

                        BY PLM FINANCIAL SERVICES, INC.,
                        ITS GENERAL PARTNER

                        By   /s/Stephen M. Bess
                          -----------------------------------------------------
                        Stephen M. Bess
                        President and Chief Executive Officer

                        PROFESSIONAL LEASE MANAGEMENT INCOME FUND I, L.L.C.

                        BY PLM FINANCIAL SERVICES, INC.,
                        ITS MANAGER

                        By   /s/Stephen M. Bess
                          -----------------------------------------------------
                        Stephen M. Bess
                        President and Chief Executive Officer

                        PLM EQUIPMENT GROWTH & INCOME FUND VII

                        BY PLM FINANCIAL SERVICES, INC.,
                        ITS GENERAL PARTNER

                        By   /s/Stephen M. Bess
                          -----------------------------------------------------
                        Stephen M. Bess
                        President and Chief Executive Officer

                        ACQUISUB, LLC

                        BY PLM FINANCIAL SERVICES, INC.
                        ITS MANAGER

                        By  /s/Stephen M. Bess
                          -----------------------------------------------------
                        Stephen M. Bess
                        President and Chief Executive Officer

<PAGE>

FSI:                    PLM FINANCIAL SERVICES, INC.

                        By  /s/Stephen M. Bess
                          -----------------------------------------------------
                        Stephen M. Bess
                        President and Chief Executive Officer

AGENT:                  COMERICA BANK-CALIFORNIA,
                        successor by merger to Imperial Bank

                        By   /s/Misako Noda
                          -----------------------------------------------------
                        Misako Noda
                        Vice President

LENDERS:                COMERICA BANK-CALIFORNIA,
                        successor by merger to Imperial Bank

                        By  /s/Misako Noda
                          -----------------------------------------------------
                        Misako Noda
                        Vice President

                        PFF BANK & TRUST

                        By  /s/Steve Capps
                          -----------------------------------------------------
                        Printed Name: Steve Capps
                        Title: Vice President

<PAGE>

                                   SCHEDULE A

                                  (COMMITMENTS)

                                                             Pro Rata
Lender                         Commitment                    Share

Imperial Bank                  $5,000,000                      50%

PFF Bank & Trust               $ 5,000,000                     50%

<PAGE>

                                   SCHEDULE B

                             SCHEDULE OF EXCEPTIONS
                        TO REPRESENTATIONS AND WARRANTIES

                                    ("None")

<PAGE>

     The undersigned  Guarantors under the Multiparty Guaranty dated as of April
13, 2001 (the "Guaranty") hereby consent to the terms of the foregoing amendment
and acknowledge that the Guaranty remains fully effective in accordance with its
terms with respect to the obligations of the Borrowers under the Loan Agreement,
as amended pursuant to this Amendment.

Executed as of the date first above written

                             PLM INTERNATIONAL, INC.

                          By:___/s/Stephen M. Bess_____________
                          Stephen M. Bess
                          President and Chief Executive Officer

                          PLM FINANCIAL SERVICES, INC.

                          By:__/s/Stephen M. Bess_____________
                          Stephen M. Bess
                          President and Chief Executive Officer

                          PLM TRANSPORTATION EQUIPMENT CORPORATION

                          By:__/s/Stephen M. Bess______________
                          Stephen M. Bess
                          President and Chief Executive OfficerSECOND AMENDMENT TO
                          WAREHOUSING CREDIT AGREEMENT

     THIS SECOND AMENDMENT TO WAREHOUSING CREDIT AGREEMENT (this "Amendment") is
made and entered into as of April 12, 2002,  by and among PLM  EQUIPMENT  GROWTH
FUND V, a California  limited  partnership  ("EGF V"), PLM EQUIPMENT GROWTH FUND
VI, a California  limited  partnership ("EGF VI"), PLM EQUIPMENT GROWTH & INCOME
FUND VII, a  California  limited  partnership  ("EGF VII"),  PROFESSIONAL  LEASE
MANAGEMENT  INCOME FUND I, L.L.C., a Delaware limited liability company ("Income
Fund I"), and ACQUISUB,  LLC, a Delaware limited liability company  ("Acquisub")
(EGF VI,  EGF  VII,  Income  Fund I,  and  Acquisub  each  individually  being a
"Borrower" and,  collectively,  the  "Borrowers"),  and PLM FINANCIAL  SERVICES,
INC., a Delaware corporation and the sole general partner, in the case of EGF V,
EGF VI and EGF VII,  and the sole  manager,  in the  case of  Income  Fund I and
Acquisub ("FSI"), the banks,  financial  institutions and institutional  lenders
from time to time party to the Loan  Agreement  (defined  below) and  defined as
Lenders therein ("Lenders"), and COMERICA BANK-CALIFORNIA ("Bank"), successor by
merger to IMPERIAL BANK not in its individual capacity,  but solely as agent (in
such capacity, the "Agent").

                                    RECITALS

     A.  Borrowers  requested  and the  Lenders  agreed to extend and make loans
available to Borrowers upon the terms and  conditions  contained in that certain
Warehousing  Credit  Agreement  dated as of April  13,  2001,  by and  among the
Borrowers,  FSI, Agent,  and the Lenders,  as amended by that First Amendment to
Warehousing  Credit  Agreement,  dated as of December 21, 2001, by and among the
Borrowers,  FSI,  Agent  and the  Lenders  (as the same may from time to time be
further  modified,  amended,  supplemented,  restated or  superseded,  the "Loan
Agreement").  Initially  capitalized  terms not  defined  herein  shall have the
meanings assigned to such terms in the Loan Agreement.

     B. Borrowers and FSI have requested the Lenders to amend the Loan Agreement
to  (i)  extend  the  Commitment  Termination  Date,  and  (ii)  add  EGF V as a
"Borrower" under the Loan Agreement, and the Lenders are willing to do so on the
terms and conditions set forth herein and in reliance on the representations and
warranties set forth herein.

                                    AGREEMENT

     NOW,  THEREFORE,  in consideration of the foregoing recitals and the mutual
covenants  herein set forth and for other good and valuable  consideration,  the
receipt and  sufficiency of which are hereby  acknowledged,  and intending to be
legally bound, and to induce Agent and the Lenders to enter into this Amendment,
Borrowers, FSI, EGF V, Lenders and Agent hereby agree as follows:

     SECTION 1.  ADDITION OF EGF V. Each of the  Borrowers,  the Lenders and the
Agent agrees to add EGF V as a "Borrower"  under the Loan  Agreement (as amended
hereby) and under the other Loan Documents.  EGF V hereby agrees that it will be
bound by (and will  comply  with)  all of the  conditions,  representations  and
warranties,  covenants, and obligations of a "Borrower" under the Loan Agreement
(as amended hereby) and the other Loan  Documents,  as though EGF V were a party
thereunder and a signatory thereto.

     SECTION 2 AMENDMENTS TO SECTION 1.1. OF THE LOAN AGREEMENT. Section 1.1. of
the Loan Agreement is hereby amended as follows.

          2.1.  DEFINITION OF COMMITMENT  TERMINATION  DATE.  The  definition of
"Commitment Termination Date" set forth in Section 1.1. of the Loan Agreement is
deleted in its entirety and the following is inserted in lieu thereof:

          ""COMMITMENT TERMINATION DATE" means July 11, 2002."

          2.2 DEFINITION OF EQUIPMENT GROWTH FUNDS. The definition of "Equipment
Growth Funds" set forth in Section 1.1. of the Loan  Agreement is deleted in its
entirety and the following is inserted in lieu thereof:

          ""EQUIPMENT  GROWTH FUNDS" means any and all of EGF V, EGF VI, EGF VII
and Income Fund I."

          2.3 NEW DEFINITION OF EGF V. The following  definition is added to the
list of definitions set forth in Section 1.1 of the Loan Agreement,  inserted in
its respective alphabetical sequence:

          ""EGF V" means  PLM  EQUIPMENT  GROWTH  FUND V, a  California  limited
partnership."

          2.4 DEFINITION OF LIMITED  PARTNERSHIP  AGREEMENTS.  The definition of
"Limited Partnership Agreements" set forth in Section 1.1. of the Loan Agreement
is amended to include the following clause (c) at the end thereof:

          "(c)  for  EGF  V,  the  [Amended  and  Restated  Limited  Partnership
Agreement dated as of December 20, 1991]."

          2.5  DEFINITION OF LOAN PARTIES.  The definition of "Loan Parties" set
forth in Section  1.1. of the Loan  Agreement is deleted in its entirety and the
following is inserted in lieu thereof:

          "LOAN PARTIES" means EGF V, EGF VI, EGF VII,  Income Fund I, Acquisub,
any Marine Subsidiary,  any Owner Trustee,  FSI, TEC, IMI, and PLMI, and a "Loan
Party" means any one of the Loan Parties."

          2.6 DEFINITION OF RESPONSIBLE  OFFICER.  Clause (ii) of the definition
of  "Responsible  Officer"  set forth in Section  1.1. of the Loan  Agreement is
deleted in its entirety and the following is inserted in lieu thereof:

          "(ii)  Borrowers,  any  of the  President,  Chief  Executive  Officer,
Executive  Vice  President,  Chief  Financial  Officer,  Secretary  or Corporate
Controller  of FSI as the sole  general  partner of EGF V, EGF VI or EGF VII, as
the case may be, or the sole manager of Income Fund I or  Acquisub,  as the case
may be, in each case  having  authority  to request  Advances  or perform  other
duties required hereunder,"

          2.7  DEFINITION OF SECURITY  AGREEMENTS.  The  definition of "Security
Agreements"  set forth in  Section  1.1.  of the Loan  Agreement  is  amended to
include the following clause (v) at the end thereof:

          "(v) the Security Agreement between EGF V and Agent, on behalf and for
the  benefit  of the  Lenders,  providing  for the  grant  of a  first  priority
perfected  security interest in the Equipment being financed by EGF V under this
Facility and certain  related  Collateral,  subject to no other Liens other than
Permitted  Liens,  substantially  in the  form of  Exhibit  N  (except  that any
references  to EGF VI therein  shall be deemed to be references to EGF V for the
purpose of this clause) (the "Security Agreement (EGF V)")."

          2.8  DEFINITION  OF  SUBORDINATION   AGREEMENTS.   The  definition  of
"Subordination  Agreements"  set forth in Section 1.1. of the Loan  Agreement is
amended to include the following clause (v) at the end thereof:

          "(v) the Subordination  Agreement among the Subordinated  Lenders, EGF
V,  and  Agent,  substantially  in the  form of  Exhibit  I-1  (except  that any
references  to EGF VI therein  shall be deemed to be references to EGF V for the
purpose of this clause) (the "Subordination Agreement (EGF V)")."

     SECTION 3. OTHER AMENDMENTS TO LOAN AGREEMENT.

          3.1  SECTION  3.3.7 OF THE LOAN  AGREEMENT.  The  words,  "as the sole
general  partner  of EGF VI and EGF VII"  appearing  in the  first  sentence  of
Section  3.3.7 of the Loan  Agreement  are deleted and the  following  words are
inserted in lieu thereof:

          "as the sole general partner of EGF V, EGF VI and EGF VII"

          3.2  SECTION  3.7 OF  THE  LOAN  AGREEMENT.  Section  3.7 of the  Loan
Agreement is amended as follows:

               (a). The words "sole general partner of any of EGF VI or EGF VII"
appearing in the first  sentence of Section  3.7.1 are deleted and the following
words are inserted in lieu thereof:

               "sole general partner of any of EGF V, EGF VI or EGF VII";

               (b). Section 3.7 is renumbered as Section 3.8; and

               (c).  Each  subsection  of Section 3.7 is  renumbered  as Section
3.8.1, 3.8.2 and 3.8.3 respectively.

          3.3  CONDITIONS  TO EACH ADVANCE TO EGF V. The following is added as a
new Section 3.7 to the Loan Agreement:

     "3.7  CONDITIONS  TO EACH  ADVANCE  TO EGF V.  Unless  waived in writing by
Requisite Lenders, the obligation of any Lender to make any Advance to EGF V (or
any Marine  Subsidiary or Owner Trustee of EGF V) (including the initial Advance
except that the closing condition described in Section 3.7.2 shall only apply to
subsequent  Advances) is subject to the  satisfaction  of the following  further
conditions precedent:

          3.7.1  SECURITY  AGREEMENT  (EGF V).  Agent  shall have  received  the
Security Agreement (EGF V) in form and substance  satisfactory to Lenders,  duly
executed and delivered by EGF V and describing  the Equipment  being financed or
refinanced on the date of the initial Advance to EGF V.

          3.7.2 SECURITY AGREEMENT SUPPLEMENT (EGF V). Agent shall have received
a  supplement  to  Schedule  A to the  Security  Agreement  (EGF V) in form  and
substance  satisfactory  to Lenders,  duly  executed and  delivered by EGF V and
describing  the  Equipment  being  financed  or  refinanced  on the date of each
subsequent Advance to EGF V.

          3.7.3  FINANCING  STATEMENTS,  ETC.  At least five (5)  Business  Days
before each Loan  hereunder  with  respect to the  financing or  refinancing  of
Equipment  by EGF V (or any Marine  Subsidiary  or Owner  Trustee of EGF V), (i)
there shall have been filed in all applicable  jurisdictions  Uniform Commercial
Code financing statements naming EGF V (or if applicable, a Marine Subsidiary or
Owner Trustee of EGF V) as "debtor" and the Agent as "secured party" (or Uniform
Commercial Code financing statement amendments,  as applicable) (which financing
statements  or financing  statement  amendments  shall be in form and  substance
acceptable  to the Agent) to perfect the security  interest of the Agent in such
Equipment and all related Collateral, (ii) there shall have been executed, filed
and/or  recorded  in all  applicable  jurisdictions  such other  instruments  or
documents  as the Agent deems  necessary  or  advisable  to perfect its security
interest  in  such  Equipment  and all  related  Collateral,  including  without
limitation,   additional  security   agreements,   ship  mortgages  and  chattel
mortgages,  and (iii) Agent shall have received such Lien and judgment searches,
opinions, releases,  termination statements, and other documents and instruments
as Agent shall reasonably  request to confirm that upon the consummation of such
financing or refinancing  Agent shall have a first priority  perfected  security
interest in such Equipment and all related  Collateral subject to no other Liens
other than Permitted Liens."

     SECTION 4. CONDITIONS PRECEDENT.  The legal effectiveness of this Amendment
is subject to the satisfaction of all of the following conditions precedent:

          4.1 EXECUTED AMENDMENT.  Agent shall have received this Amendment duly
executed and delivered by EGF V, FSI, and each Borrower, and the same shall have
become effective.

          4.2  CORPORATE  DOCUMENTS.  Agent  shall  have  received,  in form and
substance satisfactory to Lenders and their respective counsel, the following:

               (a) A certified  copy of the records of all actions  taken by EGF
V, including all resolutions of EGF V, authorizing or relating to the execution,
delivery and  performance  of this  Amendment,  the Loan Agreement and the other
Loan Documents and the consummation of the transactions  contemplated hereby and
thereby;

               (b) A certificate of a Responsible Officer of EGF V, stating that
(A) the limited  partnership  agreement,  certificate of limited partnership and
any other formation documents of EGF V attached to such certificate are true and
accurate,  remain in full force and effect and have not been  amended  since the
date  thereof and (B) EGF V is in good  standing  under the laws of the state of
its  formation and each other  jurisdiction  where its ownership of Property and
assets or conduct of business require such qualification;

               (c)  Certificates of incumbency and signature with respect to the
authorized  representatives  of EGF V executing  this  Amendment and  requesting
Loans;

               (d) Such other  documents  relating to each Loan Party as Lenders
may reasonably request;

          4.3 NOTES. Agent shall have received Notes, payable to each Lender, in
form and substance  satisfactory to Lenders,  duly executed and delivered by EGF
V;

          4.4   SUBORDINATION   AGREEMENT.   Agent  shall  have   received   the
Subordination  Agreement (EGF V), in form and substance satisfactory to Lenders,
duly executed and delivered by each Subordinated Lender and EGF V;

          4.5  MATERIAL  ADVERSE  EFFECT.  No event that has  resulted  or could
result in a Material  Adverse  Effect shall have occurred  since the date of the
most recent  financial  statements of PLMI delivered to Agent,  as determined by
Agent in its sole discretion; and

          4.6 PAYMENT OF FEES.  Agent  shall have  received  reimbursement  from
Borrowers of its costs and expenses incurred (including, without limitation, its
attorneys'  fees  and  expenses)  in  connection  with  this  Amendment  and the
transactions contemplated hereby.

     SECTION 5.  LIMITED  AMENDMENT.  Each of the  amendments  set forth in this
Amendment  shall be limited  precisely as written and shall not be deemed (a) to
be an  amendment  of any other term or  condition  of the Loan  Agreement or the
other Loan Documents, to prejudice any right or remedy which Agent or any Lender
may now have or may have in the  future  under  or in  connection  with the Loan
Agreement  or the other  Loan  Documents  or (b) to be a consent  to any  future
amendment.

     SECTION  6.  REPRESENTATIONS  AND  WARRANTIES.  Each  of  Borrower  and FSI
represents and warrants that its respective  representations and warranties made
in the Loan Documents  continue to be true and complete in all material respects
as of the date  hereof  after  giving  effect to this  Amendment  (except to the
extent such specifically relate to another date). EGF V severally, as to itself,
but not jointly as to the Borrowers and FSI,  hereby  warrants and represents to
Agent and each Lender that each representation and warranty of a "Borrower" made
in the Loan Documents,  including without  limitation,  each  representation and
warranty set forth in Section 4.1 of the Loan  Agreement is hereby  incorporated
herein by this  reference  as though such  representation  and warranty had been
fully set forth herein,  is true and complete in all material respects as of the
date hereof after  giving  effect to this  Amendment  (except to the extent such
representations and warranties  specifically relate to another date), and agrees
that each of said warranty and representation  shall be deemed to continue until
full,  complete and indefeasible  payment and performance of the Obligations and
shall apply anew to each borrowing under the Loan  Agreement.  Each of Borrower,
EGF V, and FSI further represents and warrants that the execution,  delivery and
performance of this Amendment are duly authorized, do not require the consent or
approval  of any  governmental  body  or  regulatory  authority  and  are not in
contravention  of or in conflict with any material law or regulation or any term
or provision of any other material agreement entered into by such Borrower,  EGF
V or FSI, as applicable.

     SECTION 7. GOVERNING LAW. Except as otherwise  expressly provided in any of
the Loan  Documents,  in all respects,  including  all matters of  construction,
validity and performance, this Amendment shall be governed by, and construed and
enforced in accordance  with, the laws of the State of California  applicable to
contracts  made and performed in such state,  without  regard to the  principles
thereof regarding conflict of laws, and any applicable laws of the United States
of America.

     SECTION 8. FULL FORCE AND EFFECT;  ENTIRE  AGREEMENT.  Except to the extent
expressly  provided  in this  Amendment,  the terms and  conditions  of the Loan
Agreement  and the other Loan  Documents  shall remain in full force and effect.
This  Amendment and the other Loan  Documents  constitute and contain the entire
agreement  of the parties  hereto and  supersede  any and all prior  agreements,
negotiations,  correspondence,  understandings  and  communications  between the
parties,  whether  written or oral,  respecting the subject matter hereof or the
extension  of credit by the  Lenders  to the  Borrowers  and EGF V and/or  their
affiliates.

     SECTION 9.  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 an original,  but all such
counterparts together shall constitute but one and the same instrument.

<PAGE>

     WITNESS the due execution hereof by the respective duly authorized officers
of the undersigned as of the date first written above.

EGF V:                  PLM EQUIPMENT GROWTH FUND V

                        BY PLM FINANCIAL SERVICES, INC.,
                        ITS GENERAL PARTNER

                        By
                          ------------------------------------------------------
                        Stephen M. Bess
                        President and Chief Executive Officer

BORROWERS:              PLM EQUIPMENT GROWTH FUND VI

                        BY PLM FINANCIAL SERVICES, INC.,
                        ITS GENERAL PARTNER

                        By
                          ------------------------------------------------------
                        Stephen M. Bess
                        President and Chief Executive Officer

                        PLM EQUIPMENT GROWTH & INCOME FUND VII

                        BY PLM FINANCIAL SERVICES, INC.,
                        ITS GENERAL PARTNER

                        By
                          ------------------------------------------------------
                        Stephen M. Bess
                        President and Chief Executive Officer

                        PROFESSIONAL LEASE MANAGEMENT INCOME FUND I, L.L.C.

                        BY PLM FINANCIAL SERVICES, INC.,
                        ITS MANAGER

                        By
                          ------------------------------------------------------
                        Stephen M. Bess
                        President and Chief Executive Officer

                         ACQUISUB, LLC

                         BY PLM FINANCIAL SERVICES, INC.
                         ITS MANAGER

                         By
                           -----------------------------------------------------
                         Stephen M. Bess
                         President and Chief Executive Officer

FSI:                     PLM FINANCIAL SERVICES, INC.

                         By
                           -----------------------------------------------------
                         Stephen M. Bess
                         President and Chief Executive Officer

LENDERS:                 COMERICA BANK-CALIFORNIA,
                         successor by merger to Imperial Bank

                         By
                           -----------------------------------------------------
                         Misako Noda
                         Vice President

                         PFF BANK & TRUST

                         By
                           -----------------------------------------------------
                         Printed Name: Steve Capps
                         Title: Vice President

AGENT:                   COMERICA BANK-CALIFORNIA,
                         successor by merger to Imperial Bank

                         By
                           -----------------------------------------------------
                         Misako Noda
                         Vice President

<PAGE>

The undersigned  Guarantors under the Multiparty  Guaranty dated as of April 13,
2001 (the "Guaranty") hereby consent to the terms of the foregoing amendment and
acknowledge  that the Guaranty  remains fully  effective in accordance  with its
terms with respect to the  obligations of the Borrowers and EGF V under the Loan
Agreement,  as  amended  pursuant  to  this  Amendment.   Without  limiting  the
foregoing, each of the undersigned agrees that all references to a "Borrower" or
"Borrowers" in the Guaranty shall include EGF V.

Executed as of April 12, 2002.

                                       PLM INTERNATIONAL, INC.

                                       By:__________________________
                                       Stephen M. Bess
                                       President and Chief Executive Officer

                                       PLM FINANCIAL SERVICES, INC.

                                       By:_________________________
                                       Stephen M. Bess
                                       President and Chief Executive Officer

                                       PLM TRANSPORTATION EQUIPMENT CORPORATION

                                       By:__________________________
                                       Stephen M. Bess
                                       President and Chief Executive Officer

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