Document:

SECOND AMENDMENT
           TO THIRD AMENDED AND RESTATED LIMITED PARTNERSHIP AGREEMENT
                                       OF
                     PLM EQUIPMENT GROWTH & INCOME FUND VII

THIS  SECOND  AMENDMENT  TO  THIRD  AMENDED  AND  RESTATED  LIMITED  PARTNERSHIP
AGREEMENT  (the  "Amendment")  is  entered  into as of January  21,  1994 by PLM
FINANCIAL SERVICES,  INC., a Delaware  corporation,  as the general partner (the
"General  Partner")  of PLM  Equipment  Growth & Income  Fund VII, a  California
limited partnership (the "Partnership").

         WHEREAS,  the General  Partner  desires to amend the Third  Amended and
Restated Limited  Partnership  Agreement of the Partnership  dated as of May 10,
1993, as amended by that certain  First  Amendment to Third Amended and Restated
Limited  Partnership  Agreement  of the  Partnership  dated  as of May 28,  1993
(together, the "Agreement") as set forth below; and

         WHEREAS,  Article XVIII of the Agreement grants the General Partner the
power to amend the Agreement from time to time without the consent of any of the
Limited  Partners to the extent necessary to delete or add any provision of this
Agreement   required  to  be  so  deleted  or  added  by  any  state  securities
commissioner  or similar such official,  which addition or deletion is deemed by
such official to be for the benefit or protection of the Limited Partners; and

         WHEREAS, a representative of a state securities commission has informed
the General  Partner that Section 4.01 of the Agreement  should provide that the
General Partner,  rather than the Partnership,  will be liable for certain costs
and damages to a party  requesting a list of Limited  Partners in the event such
request is wrongfully denied:

         NOW, THEREFORE, in consideration of the foregoing,  the General Partner
hereby amends the Agreement as follows:

1.  Section  4.01 of the  Agreement  is hereby  amended by deleting  the seventh
sentence  in Section  4.01 in its  entirety  and  substituting  in its place the
following sentence:

                  "If (i) the  Partnership  neglects or refuses to permit access
          to the right to inspect and copy or to mail a copy of the  Partnership
          List as requested and (ii) the General Partner has not determined that
          the actual  purpose  and reason for the request is to sell the Partner
          List or any copy  thereof or  otherwise to provide the Partner List to
          another  party or use it for a  commercial  purpose  other than in the
          interest  of the  requesting  party  relative  to his  interest in the
          Partnership (such as matters relating to the requesting party's voting
          rights under the Agreement and the exercise of the requesting  party's
          rights under federal proxy laws),  the General Partner shall be liable
          to the  requesting  party for the costs,  including  attorneys'  fees,
          incurred by the requesting  party for compelling the production of the
          Partner List and for actual damages  suffered by the requesting  party
          by reason of such  refusal or neglect and such remedy shall not in any
          way limit  other  remedies  available  to the  requesting  party under
          federal or state law."

2. Capitalized  terms used in this Amendment shall have the meanings ascribed to
them in the Agreement unless otherwise defined herein.

         IN WITNESS WHEREOF, the undersigned has duly executed this Amendment as
of the date first above written.

                                              GENERAL PARTNER:

                                              PLM FINANCIAL SERVICES, INC.,
                                              A Delaware corporation

                                              By:   /s/ Denise M. Kirchubel
                                                    ------------------------
                                                       Denise M. Kirchubel
                                                       Assistant SecretaryTHIRD AMENDMENT
                                     TO THE
                           THIRD AMENDED AND RESTATED
                          LIMITED PARTNERSHIP AGREEMENT
                                       OF
                     PLM EQUIPMENT GROWTH & INCOME FUND VII

         This Third  Amendment  ("Amendment")  to the Third Amended and Restated
Limited  Partnership  Agreement  of PLM  Equipment  Growth  &  Income  Fund  VII
("Partnership")  is executed as of March 25, 1999, by its General  Partner,  PLM
Financial Services,  Inc., a Delaware corporation ("General Partner"),  pursuant
to Article XVIII of the Agreement (as defined below).  All capitalized terms not
otherwise defined herein shall have the meanings as set forth in the Agreement.

                                    RECITALS

         The  Partners  entered into a Third  Amended and  Restated  Partnership
Agreement  as of May 10,  1993,  a First  Amendment  to the  Third  Amended  and
Restated Limited Partnership  Agreement as of May 28, 1993, and a Second Amended
and Restated Limited Partnership Agreement as of January 21, 1994 (collectively,
the "Agreement").

         The  General  Partner  now amends the  Agreement,  pursuant  to Article
XVIII,  paragraph two,  subsections (1) and (2), to add to the General Partner's
representations,  duties or obligations for the benefit of the Limited Partners,
and to cure any  ambiguity  or to correct  any  inconsistency  that may exist in
Section 3.12 of the Agreement. In executing this Amendment,  the General Partner
represents,  warrants and agrees, and will take all action to ensure,  that this
Amendment does not, and will not, detrimentally affect the Cash Distributions of
the Limited  Partners or Assignees or the  management of the  Partnership by the
General Partner.

         Now, therefore, the Agreement is amended as follows:

1.       Section 3.12 is amended to read in its entirety as follows:

         "Special Allocation of Gross Income:

                  After making all other  allocations  required pursuant to this
         agreement,  Gross Income in each taxable year of the Partnership  shall
         be specially  allocated to the General Partner to the extent  necessary
         to cause the Investment  Account  balance of the General  Partner to be
         zero as of the close of such taxable year."

         IN  WITNESS  WHEREOF,  the  General  Partner  has  duly  executed  this
Amendment as of March 25, 1999

                                             PLM Financial Services, Inc.,
                                             A Delaware corporation,
                                             General Partner and as
                                             Attorney-in-fact for an on
                                             behalf of the Limited Partners

                                             By:  /s/ Douglas P. Goodrich
                                                  ------------------------
                                             Title:  President
                                                   --------------------
                                             Name: __________________EXHIBIT 10.22

                                                --------------------------------
                                                     CONFIDENTIAL TREATMENT
                                                         REQUESTED BY
                                                  PLAY BY PLAY TOYS & NOVELTIES,
                                                              INC.
                                                --------------------------------

           CERTAIN PORTIONS OF THIS EXHIBIT, MARKED AS "*REDACTED*,"
                HAVE BEEN OMITTED HEREFROM AND FILED SEPARATELY
                  WITH THE COMMISSION BASED UPON A REQUEST FOR
                             CONFIDENTIAL TREATMENT.

                                November 10, 2000
                                  AMENDMENT #3

Raymond Braun
PLAY-BY-PLAY TOYS & NOVELTIES, INC.
4400 Tejasco
San Antonio, TX  78218

RE:  WARNER BROS. LICENSE AGREEMENT #90248

Gentlemen:

This letter when fully executed shall formally amend the above-referenced
License Agreement, dated January 1, 1998, as amended, relative to certain rights
owned and controlled by Warner Bros.

By our mutual execution hereof, it is agreed as follows:

1.    PARAGRAPH 1 (A) "LICENSED PROPERTY": is hereby amended as follows:

      Notwithstanding anything to the contrary contained herein:

(a)      The "Licensed Property" with respect to Licensed Products distributed
         through the TOY CHANNELS shall be limited to the specific properties
         listed in Exhibit 1 attached to this Amendment and incorporated herein
         by reference (the "Exhibit 1 Properties") only;

(b)      The "Licensed Property" with respect to MANUFACTURING rights (as
         provided in Paragraph 5 (a) of this Amendment) shall be limited to the
         specific properties listed in Exhibit 2 attached to this Amendment and
         incorporated herein by reference (the "Exhibit 2 Properties"); and

(c)      The "Licensed Property" with respect to manufacturing rights of
         AMUSEMENT GRADE PLUSH (as provided in Paragraph 4 (b) of this
         Amendment) shall be limited to the specific properties listed in
         Exhibit 3 attached to this Amendment and incorporated herein by
         reference (the "Exhibit 3 Properties").

2.    PARAGRAPH 1 (B) "TERRITORY": is hereby amended as follows:

      Brazil shall be specifically excluded from the Territory, effective as of
      the execution of this Amendment. Notwithstanding the foregoing, the
      manufacturing rights described in Paragraphs 5 (a) - (b) of this Amendment
      shall apply to all Latin America countries, including Brazil.

3.    PARAGRAPH 1 (D) "GUARANTEED CONSIDERATION": is hereby amended as follows:

      (a)   Licensor hereby acknowledges receipt of ($*REDACTED*) of the
            original ($*REDACTED*) Guaranteed Consideration. The remaining
            balance of the Guaranteed Consideration of ($*REDACTED*) shall
            constitute a flat fee (the "Flat Fee"), and shall be payable in
            United States dollars as follows:

<PAGE>
                                                --------------------------------
                                                     CONFIDENTIAL TREATMENT
                                                         REQUESTED BY
                                                  PLAY BY PLAY TOYS & NOVELTIES,
                                                              INC.
                                                --------------------------------

      ($*REDACTED*) payable on or before January 1, 2001;

      ($*REDACTED*) payable on or before March 31, 2001;

      ($*REDACTED*) payable on or before June 30, 2001;

      ($*REDACTED*) payable on or before September 30, 2001;

      ($*REDACTED*) payable on or before December 31, 2001;

      ($*REDACTED*) payable on or before March 31, 2002;

      ($*REDACTED*) payable on or before June 30, 2002;

      ($*REDACTED*) payable on or before September 30, 2002.

      (b)   On or before November 22, 2000, Licensee shall provide to Licensor a
            security instrument in for form of an irrevocable insurance bond
            issued by Amwest Surety Insurance Company (provided that all
            reinsurers must comply with the financial characteristics as
            described in the letter attached to this Amendment as Exhibit 4) in
            the amount of ($*REDACTED*) (the "Security Instrument") of which (a)
            ($*REDACTED*) shall be security against the Guaranteed Consideration
            under this Agreement, and (b) ($*REDACTED*) shall be security
            against the Guaranteed Consideration under License Agreement #68116
            between Licensor and Licensee.

            In the event the Security Instrument is not delivered to Licensor as
            provided herein, this Amendment shall be null and void and of no
            force or effect.

      (c)   Licensee agrees that the *REDACTED* executed in connection with this
            Agreement shall be amended as follows: *REDACTED* Licensee shall
            deliver documentation for the foregoing amendments to the
            *REDACTED*, in a form acceptable to Licensor, no later than November
            30, 2000, and for the new price under (B) above within ten (10)
            business days following determination of the new price.

4.    PARAGRAPH 1 (E) "TERM": The Term is hereby extended as follows:

      (a)   For the TOY CHANNELS: An additional nine (9) month period,
            *REDACTED*; and

      (b)   For MANUFACTURING rights (as provided in Paragraphs 5 (a) - (b) of
            this Amendment): An additional one (1) year period, *REDACTED*.

            Notwithstanding anything to the contrary set forth in this
            Agreement, effective January 1, 2000, all rights granted to Licensee
            under this Agreement for all Licensed Products shall be *REDACTED*.

5.    PARAGRAPH 1 (G) "ROYALTY RATE": is hereby deleted in its entirety.

6.    PARAGRAPH 1 (H) "DISTRIBUTION CHANNELS": is hereby amended as follows:

   Effective as of the execution of this Amendment, *REDACTED*. Effective
   January 1, 2001, *REDACTED*; provided however, that for the period January 1,
   2001 through December 31, 2001:

<PAGE>
                                                --------------------------------
                                                     CONFIDENTIAL TREATMENT
                                                         REQUESTED BY
                                                  PLAY BY PLAY TOYS & NOVELTIES,
                                                              INC.
                                                --------------------------------

      (a)   Licensee shall have *REDACTED* which may be nominated by Licensor
            for the Exhibit 2 Properties only.

      (b)   Licensee shall have *REDACTED* which may be nominated by Licensor
            for the Exhibit 3 Properties only. Such plush may only be supplied
            in open card tray format (mass style) to Latin America countries and
            is subject to approval by Licensor on a case-by-case basis; and

7.    PARAGRAPH 4 "CONSIDERATION": is hereby deleted in its entirety and
      replaced with the following:

      (a)   The Flat Fee paid by Licensee shall not be applied or accrue against
            any royalties. No part of the Flat Fee shall be repayable to
            Licensee.

      (b)   Intentionally omitted.

      (c)   Sales shall be reported as set forth in Paragraph 5 (a). It is a
            material term and condition of this Agreement that sales be broken
            down by (1) Licensed Product, (2) country, (3) Licensed Property,
            and (4) Distribution Channel. In the event Licensee fails to do so,
            Licensor shall have the right to terminate this Agreement. Licensor
            shall also have the right to require Licensee to report sales on a
            retailer-by-retailer basis.

      (d)   Intentionally omitted.

      (e)   Licensee shall pay all taxes, customs, duties, assessments and other
            charges levied upon the importation of or assessed against the
            Licensed Products under this Agreement, as well as all Licensee's
            costs of doing business and Licensor shall have no liability
            thereof.

      (f)   Intentionally omitted."

8.    PARAGRAPH 5 "PERIODIC STATEMENTS": is hereby amended as follows:

   Notwithstanding anything to the contrary contained herein, Licensee shall not
   be required to include any references to royalties in the periodic statements
   hereunder. Licensee shall continue to report all sales in the manner required
   hereunder.

In all other respects, other than as noted above the subject License Agreement
and all of its terms and conditions shall continue to govern our relationship.
Capitalized terms used herein and not otherwise defined herein shall have the
meaning set forth in the License Agreement.

This letter shall have no legal effect unless and until (a) it is signed by
Licensee and delivered to Licensor no later than November 14, 2000, and (b) it
is thereafter signed by Licensor.

LICENSOR                                  LICENSEE;
WARNER BROS. CONSUMER PRODUCTS            PLAY-BY-PLAY TOYS & NOVELITES,
A division of Time Warner                 INC.
Entertainment Company L.P., on
Behalf of itself and as Agent
For Warner Bros.  A Division of
Time Warner Entertainment Company
L.P.
By: _________________________________     By: ___________________________
       Gary R. Simon
       Senior Vice President              Its: __________________________
       Business and Legal Affairs

Date: ________________________________    Date: _________________________

<PAGE>
                                                --------------------------------
                                                     CONFIDENTIAL TREATMENT
                                                         REQUESTED BY
                                                  PLAY BY PLAY TOYS & NOVELTIES,
                                                              INC.
                                                --------------------------------

                                    EXHIBIT 1

(I)                 *REDACTED* (as defined in Schedule A-10); and
(II)                   *REDACTED* (as defined in Schedule B-4).

                                    EXHIBIT 2

(i)                    *REDACTED*(as defined in Schedule A-2);
(ii)                   *REDACTED* (as defined in Schedule B-5);
(iii)                *REDACTED* (as defined in Schedule B-6); and
(iv)                   *REDACTED* (as defined in Schedule B-9).

                                    EXHIBIT 3

           (i)      *REDACTED** (as defined in Schedule A-10);
           (ii)      *REDACTED** (as defined in Schedule B-3);
           (iii)    *REDACTED* (as defined in Schedule B-4);
           (iv)     *REDACTED* (as defined in Schedule B-5);
            (v)     *REDACTED* (as defined in Schedule B-6); and
           (vi)      *REDACTED* (as defined in Schedule B-9).

            * These properties are not applicable in Brazil.

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