Document:

Pledge Release Agreement, dated as of October 6, 2006

 Exhibit 10.5 
 Pledge Release Agreement 
 This PLEDGE RELEASE AGREEMENT (this “Agreement”), dated
as of October 6, 2006, is entered into by and among TMI COMMUNICATIONS DELAWARE, LIMITED PARTNERSHIP, a limited partnership organized under the laws of the State of Delaware (“Pledgor”), and the parties listed on
Schedule 1 attached hereto (each individually, together with its successors and assigns, a “Secured Party” and collectively, the “Secured Parties”) and MOBILE SATELLITE VENTURES LP, a limited partnership
organized under the laws of the State of Delaware, in its capacity as security agent on behalf of itself and the other Secured Parties (the “Security Agent”). Unless otherwise defined herein, all capitalized terms used herein shall
have the same meaning as in the Pledge Agreement (as hereinafter defined). 
 WHEREAS, the Pledgor, TMI Communications and Company, Limited
Partnership, the Secured Parties and the Security Agent entered into a Pledge and Guarantee Agreement dated as of November 26, 2001, as amended (the “Pledge Agreement”); and 
 WHEREAS, the parties to this Agreement desire to terminate the Pledge Agreement and release all of the Collateral thereunder. 
 NOW THEREFORE in accordance with Section 16 of the Pledge Agreement and in consideration of the agreements contained herein and for other good and
valuable consideration, the receipt and sufficiency of which is hereby acknowledged by each of the undersigned, the parties to this Agreement hereby agree as follows: 
 Section 1. Termination of Pledge Agreement and Related Matters. 
 (a) The Pledge Agreement is hereby
terminated and the Secured Parties and the Security Agent hereby relinquish all of their rights thereunder, including without limitation all of their rights in the Collateral and all of their rights under the Guarantee. 
 (b) The Secured Parties and the Security Agent shall return promptly after the date hereof, to Pledgor, all of the securities and other property that
immediately prior to effectiveness of this Agreement had constituted the Collateral, including without limitation certificates representing the Current LP Units and Current Shares registered in the name of Pledgor. 
 (c) The Security Agent shall, no later than one week after the date hereof, cause UCC termination statements reflecting termination of the Pledge
Agreement and release of the Collateral, in form and substance reasonably satisfactory to Pledgor, to be filed in all jurisdictions where UCC financing statements relating to the Collateral had been filed (and shall, at the request of Pledgor,
promptly file such certificates or documents under the laws of Canada or any of its Provinces as may in Pledgor’s judgement be necessary to reflect such termination and release). 
 (d) Each of the parties to this Agreement hereby release the other parties from any and all claims of any nature that it may have had under the Pledge
Agreement. 
 Section 2. Further Action. Each party to this Agreement shall execute and deliver such further releases, instruments, agreements and
writings and do and perform, and cause to be done and 

 
performed, such further acts and things as any party shall reasonably request in order to give full effect to this Agreement. 
 Section 3. Governing Law. This Agreement shall be governed in all respects by the law of the State of New York as such law is applied to agreements between New
York residents entered into and performed entirely in the State of New York, without regard to the conflict of laws provisions thereof. 
 Section 4.
Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be an original, but all of which together shall constitute one instrument. Delivery of an executed counterpart of a signature page of this
Agreement by facsimile shall he effective as delivery of a manually executed counterpart of this Agreement. 
 [Signature Pages Follow]

 IN WITNESS WHEREOF, each of the parties hereto has duly executed this Agreement or has caused this
Agreement to be duly executed on its behalf, as of the day and year first above written. 
  

			
	TMI COMMUNICATIONS DELAWARE, LIMITED PARTNERSHIP
		
	By:	 	 3924505 CANADA INC.,

		 	 its General Partner

		
	By:	 	 /s/ L. Scott Thomson

	Name:	 	 Scott Thomson

	 Title:
	 	 President and Secretary

  

			
	 SECURED PARTIES:

	
	 MOTIENT VENTURES HOLDING INC.

		
	By:	 	 /s/ Jeffrey W. Epstein

	 Name:
	 	 Jeffrey W. Epstein

	 Title:
	 	 Secretary

	
	MSV INVESTORS LLC
		
	By:	 	 MSV INVESTORS HOLDINGS, INC.,

		 	 its Managing Member

		
	By:	 	 /s/ Robert Lewis

	Name:	 	 Robert Lewis

	 Title:
	 	 Senior Vice President and General Counsel

	
	MOBILE SATELLITE VENTURES LP
		
	By:	 	MOBILE SATELLITE VENTURES GP INC., its General Partner
		
	By:	 	 /s/ Randy Segal

	Name:	 	 Randy Segal

	 Title:
	 	 Senior Vice President and General Counsel

 [Signature Page to Pledge Termination Agreement] 

 Schedule I 
 Secured Parties 
 Motient Ventures Holding Inc. 
 MSV Investors, LLC 
 Mobile Satellite Ventures LP 
 Columbia Space (QP), Inc. 
 Columbia Space (AI), Inc. 
 Columbia Space Partners, Inc. 
 Spectrum Space Equity Investors IV, Inc. 
 Spectrum Space IV Parallel, Inc. 
 Spectrum Space IV Managers, Inc.Preferred Provider Termination Agreement, dated as of October 6, 2006

 Exhibit 10.6 
 PREFERRED PROVIDER TERMINATION AGREEMENT Dated as of October 6, 2006 entered into between BCE Inc. (“BCE”), Mobile Satellite Ventures (Canada) Inc. (“Canadian License Co.”) and Mobile Satellite
Ventures LP (“MSV LP”). 
 RECITALS 
 BCE, Canadian License Co. and MSV LP entered into a Preferred Provider Agreement dated November 12, 2004, as amended by an Acknowledgement Regarding BCE Preferred Provider Agreement (the
“Acknowledgement”) dated as of May 11, 2005 between BCE, Canadian License Co., MSV LP and TerreStar (together, the “BCE PPA”). 
 The Acknowledgement also established a separate preferred provider relationship between BCE and TerreStar Networks Inc. (“TerreStar”). 
 The parties have agreed to terminate the BCE PPA among BCE, Canadian License Co. and MSV LP as set forth hereinafter. 

NOW THEREFORE THIS AGREEMENT WITNESSES that in consideration of the sum of ten dollars paid by each party to the others, and other good and valuable
consideration, mutually given and received, the parties agree as follows: 
  

	1.	INTERPRETATION 

  

	1.1	Capitalized terms used herein and defined in the BCE PPA have the meaning ascribed to such terms in the BCE PPA unless otherwise defined herein. 

  

	1.2	This Termination Agreement is governed by, and construed in accordance with, the laws of the State of New York applicable therein. 

  

	2.	TERMINATION OF THE BCE PPA 

  

	2.1	The BCE PPA is hereby terminated. Nothing herein shall be construed to alter or diminish the rights or obligations between BCE and TerreStar under the Acknowledgement.

  

	2.2	BCE, Canadian License Co. and MSV LP hereby release and forever discharge each other and each of their respective subcontractors, shareholders, directors, officers,
employees and agents in respect of any claims, actions, causes of action, suits, disputes, damages, obligations, liabilities, attorney’s fees and costs of whatever nature, past, present or future, known or unknown, arising out of or related to
the termination of the BCE PPA or the performance or non-performance of the BCE PPA up to the date hereof. 

  

	3.	EFFECTIVENESS 

  

	3.1	After its execution by the parties, this Termination Agreement will be effective as of the date and year first-above written. 

	3.2	This Termination Agreement may be executed in any number of counterparts and in separate counterparts, each of which when so executed and delivered will be deemed to be
an original and all of which taken together will constitute but one and the same agreement. Delivery of an executed counterpart of a signature page to this Termination Agreement by telecopier will be effective as delivery of a manually executed
counterpart of this Termination Agreement. 

 IN WITNESS WHEREOF, THE PARTIES HERETO HAVE CAUSED THIS AGREEMENT TO BE DULY EXECUTED AS OF THE
DATE AND YEAR FIRST-ABOVE WRITTEN 
  

									
	BCE INC.	 		 	MOBILE SATELLITE VENTURES LP, by its General Partner, MOBILE SATELLITE VENTURES GP INC.
					
	 By:
	 	 /s/ L. Scott Thomson
	 		 	 By:
	 	 /s/ Randy Segal

	 Name:
	 	 L. Scott Thomson
	 		 	 Name:
	 	 Randy Segal

	 Title:
	 	 Executive Vice President,
	 		 	 Title:
	 	 Senior Vice President and General Counsel

		 	 Corporate Development
	 		 		 	

  

			
	MOBILE SATELLITE VENTURES (CANADA) INC.
		
	By:	 	 /s/ Beth Creary

	 Name:
	 	 Beth Creary

	 Title:
	 	 Secretary

  

 2Amendment #1 to the Indenture

 Exhibit 4.1 
 AMENDMENT NO. 1 
 TO THE 
 INDENTURE 
 Amendment No. 1 dated as of September 28, 2006,
(the “Amendment”) to the Indenture dated as of May 1, 2006 (the “Indenture”) by and among NovaStar Mortgage Funding Trust, Series 2006-MTA1 (the “Issuing Entity”), JPMorgan Chase Bank, National
Association, as Indenture Trustee (the “Indenture Trustee”) and J.P. Morgan Trust Company, National Association, as Co-Trustee (the “Co-Trustee”). 
 WHEREAS, in connection with the administration of the Notes issued under the Indenture, it was determined that the Indenture contained certain
ambiguities and/or defective and/or inconsistent provisions which require supplementation and/or correction to provide for the proper administration of the Notes consistent with the intent of the parties and the expectations of the Noteholders;

 NOW, THEREFORE, the parties to the Indenture, desiring so to supplement and/or correct such provisions, do hereby agree as follows:

 Section 1. Definitions. Capitalized terms used herein and not otherwise defined herein shall have their respective meanings as
set forth in the Indenture. 
 Section 2. Amendments. 
 (a) Section 8.01(g) of the Indenture, previously “Reserved”, shall read as follows: 
 For any Payment Date, Net Negative Amortization will be allocated among the Class A and the Class M Notes in an amount equal to the excess, if any,
for each such class of (i) the amount of interest accrued on the related Class Note Balance during the related Interest Accrual Period at the applicable Note Rate for such class, over (ii) the amount of such interest that would have
accrued had the Note Rate for such class equaled the related Adjusted Cap Rate for such class and Payment Date. The amount of current interest allocable to each class of Notes will be reduced by the amount of Net Negative Amortization allocable to
such class of Notes (as provided in clause (ii) of the definition of “Accrued Note Interest”) and such Net Negative Amortization will be added to the Class Note Balance of such class of Class A and Class M Notes (as provided in
the definition of “Class Note Balance”) unless paid on such Payment Date pursuant to Section 8.01(e)(vi) hereof. 

 (b) The following definition of “Adjusted Cap Rate” is hereby added to Appendix I: 

“Adjusted Cap Rate”: For the Class A and Class M Notes and for any Payment Date, the excess of (i) the Available Funds Cap
Rate over (ii)(a) the product of (I) the Net Negative Amortization for the Mortgage Loans for such Payment Date, and (II) 360 divided by the actual days in the related Accrual Period, divided by (b) the aggregate Class Note Balance of the
Class A and Class M Notes immediately prior to such Payment Date. 
 (c) The definition of “Available Funds Cap Rate” in
Appendix I is hereby amended and restated to read as follows: 
 “Available Funds Cap Rate. With respect to the Class A and
Class M notes, the product of (i)(a) the excess of (x) the monthly interest due at the weighted average of the Net Mortgage Rates for the mortgage loans plus amounts on deposit in the Capitalized Interest Account, multiplied by 12, over
(y) the Class X Note Rate then in effect multiplied by the Class X Notional Balance immediately prior to the related payment date divided by (b) the aggregate principal balance of the Class A and Class M notes immediately prior to
such payment date and (ii) 30 divided by the actual days in the related Accrual Period. 
 (d) The definition of “Class X
Notional Balance” in Appendix I is hereby amended and restated to read as follows: 
 “Class X Notional Balance”:
Immediately prior to any Payment Date after the first Payment Date, the aggregate Principal Balance of the Mortgage Loans as of the first day of the related Due Period (prior to giving effect to scheduled payments due during the related Due Period,
to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period). The Class X Notional Balance immediately prior to the first Payment Date will equal the aggregate Cut-off Date Principal
Balance of the Initial Mortgage Loans. 
 2. Condition to effectiveness. As a condition to the effectiveness of this Amendment, an
Opinion of Counsel satisfying the requirements of Section 9.01 of the Indenture has been received by the parties hereto. 
  

 2 

 3. Effect of Amendment. This Amendment to the Indenture shall be effective and the Indenture shall
be deemed to be modified and amended in accordance herewith retroactively to its initial date. The respective rights, limitations, obligations, duties, liabilities and immunities of the Issuing Entity, the Co-Trustee and the Indenture Trustee shall
hereafter be determined, exercised and enforced subject in all respects to such modifications and amendments, and all the terms and conditions of this Amendment shall be and be deemed to be part of the terms and conditions of the Indenture for any
and all purposes. The Indenture, as amended hereby, is hereby ratified and confirmed in all respects. 
 4. The Indenture in Full Force
and Effect as Amended. Except as specifically amended hereby, all the terms and conditions of the Indenture shall remain in full force and effect and, except as expressly provided herein, the effectiveness of this Amendment shall not operate as,
or constitute a waiver or modification of, any right, power or remedy of any party to the Indenture. All references to the Indenture in any other document or instrument shall be deemed to mean the Indenture as amended by this Amendment. 

5. Counterparts. This Amendment may be executed by the parties in several counterparts, each of which shall be deemed to be an original and all
of which shall constitute together but one and the same agreement. This Amendment shall become effective when counterparts hereof executed on behalf of such party shall have been received. 
 5. Governing Law. This Amendment shall be construed in accordance with and governed by the laws of the State of New York applicable to agreements
made and to be performed therein. 
 6. Limitation of Owner Trustee Liability. It is expressly understood and agreed by the parties
that (a) this document is executed and delivered by Wilmington Trust Company, not individually or personally, but solely as Owner Trustee, in the exercise of the powers and authority conferred and vested in it, pursuant to the Trust Agreement,
(b) each of the representations, undertakings and agreements herein made on the part of the Issuing Entity is made and intended not as personal representations, undertakings and agreements by Wilmington Trust Company but is made and intended
for the purpose for binding only the Issuing Entity, (c) nothing herein contained shall be construed as creating any liability on Wilmington Trust Company, individually or personally, to perform any covenant either expressed or implied
contained herein, all such liability, if any, being expressly waived by the parties hereto and by any person claiming by, through or under the parties hereto, and (d) under no circumstances shall Wilmington Trust Company be personally liable
for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuing Entity under this Amendment or any other related documents. 
  

 3 

 IN WITNESS WHEREOF, the Issuing Entity, the Indenture Trustee and the Co-Trustee have caused this
Amendment to be duly executed by their respective officers thereunto duly authorized, all as of the day and year first above written. 
  

			
	NOVASTAR MORTGAGE FUNDING TRUST, SERIES 2006-MTA1
		
	By:	 	 WILMINGTON TRUST COMPANY,
 not in its individual
capacity, but solely as Owner Trustee under the Trust Agreement

		
	By:	 	 /s/ Michele C. Hara

	Name:	 	Michele C. Hara
	Title:	 	Financial Services Officer
	
	 JPMORGAN CHASE BANK, NATIONAL ASSOCIATION,
 as Indenture Trustee

		
	By:	 	 /s/ Andrew M. Cooper

	Name:	 	Andrew M. Cooper
	Title:	 	Assistant Vice President
	
	 J.P. MORGAN TRUST COMPANY, NATIONAL ASSOCIATION,
 as Co-Trustee

		
	By:	 	 /s/ Melissa Adelson

	Name:	 	Melissa Adelson
	Title:	 	Authorized Signor

 [Signature page to Amendment No. 1 to the Indenture]

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