Document:

Amendment No. 2 to Master Repurchase  Agreement

 Exhibit 10.1 
 AMENDMENT NO. 2 TO 
 MASTER REPURCHASE AGREEMENT 
 AMENDMENT NO. 2 TO MASTER REPURCHASE AGREEMENT, dated as of december 15, 2006 (this “Amendment”), by and between CBRE REALTY
FINANCE HOLDINGS IV, LLC and CBRE REALTY FINANCE TRS WAREHOUSE FUNDING III, LLC (each a “seller”, and collectively, the “sellers”), and WACHOVIA BANK, NATIONAL ASSOCIATION (the “Buyer”). Capitalized
terms used but not otherwise defined herein shall have the meanings given to them in the Existing Repurchase Agreement (as defined below). 
 RECITALS 
 WHEREAS, the Sellers and the Buyer are parties to that certain Master Repurchase Agreement, dated August 24,
2006, as amended by that certain Amendment No. 1 to Master Repurchase Agreement, dated August 24, 2006 (the “Existing Repurchase Agreement”); and 
 WHEREAS, the Sellers and the Buyer have agreed to temporarily increase the Maximum Amount from $300,000,000 to $500,000,000. 
 Therefore, in consideration of the premises and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
the Sellers and the Buyer hereby agree as follows: 
 SECTION 1. Amendments. 
 (a) Section 2.01 of the Existing Repurchase Agreement is hereby modified by deleting the defined term “Maximum Amount” in its entirety and
inserting the following defined term in lieu thereof: 
 “Maximum Amount”: (i) Solely during the
Increase Period, an amount equal to $500,000,000 and (ii) following the Increase Period, an amount equal to $300,000,000, or, in either case, such greater amount as the Buyer may determine in accordance with Section 3.05(b) hereof.

 (b) Section 2.01 of the Existing Repurchase Agreement is hereby modified by inserting in proper alphabetical order the following new
defined term: 
 “Increase Period”: The period from and including December 15, 2006 through and
including April 30, 2007. 

 SECTION 2. Conditions Precedent. This Amendment and its provisions shall become effective
on the date on which the Buyer shall have received this Amendment, executed and delivered by a duly authorized officer of each Seller and the Buyer (the “Amendment Effective Date”). 
 SECTION 3. Representations and Warranties. Each Seller hereby represents and warrants to the Buyer, as of the date hereof and as of the
Amendment Effective Date, that (i) the Seller is in compliance with all of the terms and provisions set forth in the Existing Repurchase Agreement and the other Repurchase Documents on its part to be observed or performed, (ii) no Default
or Event of Default has occurred or is continuing, (iii) the Seller has no, and hereby waives all, defenses, rights of setoff, claims, counterclaims or causes of action of any kind or description against the Buyer arising under or in respect of
the Existing Repurchase Agreement or any other Repurchase Document and (iv) the Buyer is in full compliance with its undertakings and obligations under the Existing Repurchase Agreement and the other Repurchase Documents. Each Seller hereby
confirms and reaffirms the representations and warranties contained in the Existing Repurchase Agreement and all of the other Repurchase Documents. 
 SECTION 4. Limited Effect. Except as expressly amended and modified by this Amendment, the Existing Repurchase Agreement and each of the other Repurchase Documents shall continue to be, and shall remain, in full force and
effect in accordance with their respective terms; provided, however, that upon the Amendment Effective Date, each reference therein and herein to the “Repurchase Documents” shall be deemed to include, in any event, this
Amendment and each reference to the “Repurchase Agreement” in any of the Repurchase Documents shall be deemed to be a reference to the Existing Repurchase Agreement as amended hereby. 
 SECTION 5. Counterparts. This Amendment may be executed by each of the parties hereto on any number of separate counterparts, each of which
shall be an original and all of which taken together shall constitute one and the same instrument. Delivery of an executed counterpart of a signature page to this Amendment in Portable Document Format (PDF) or by facsimile transmission shall be
effective as delivery of a manually executed original counterpart thereof. 
 SECTION 6. Expenses. The Sellers agree to pay and
reimburse the Buyer for all of the out-of-pocket costs and expenses incurred by the Buyer in connection with the preparation, execution and delivery of this Amendment, including, without limitation, the fees and disbursements of Cadwalader,
Wickersham & Taft LLP, counsel to the Buyer. 
 SECTION 7. GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY, AND
CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
 [SIGNATURES FOLLOW] 
  

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 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered as of
the day and year first above written. 
  

			
	SELLERS
	
	 CBRE REALTY FINANCE TRS WAREHOUSE
 FUNDING III, LLC, a Delaware limited liability company, as Seller

  

			
	By:	 	CBRE Realty Finance TRS, Inc., a Delaware corporation

  

			
	By:	 	 /s/ Paul Martin

	Name:	 	Paul Martin
	Title:	 	Executive Vice President

  

			
	 CBRE REALTY FINANCE HOLDINGS IV,
 LLC, a Delaware limited liability company, as Seller

		
	By:	 	CBRE Realty Finance Holdings, LLC, a Delaware limited liability company

  

			
	By:	 	 /s/ Paul Martin

	Name:	 	Paul Martin
	Title:	 	Managing Director

			
	BUYER
	
	WACHOVIA BANK, NATIONAL ASSOCIATION
		
	By:	 	 /s/ Joseph F. Cannon

	Name:	 	Joseph F. Cannon
	Title:	 	Vice President

 Although consent of the Guarantor is not needed to effect the changes set forth in this Amendment, as a convenience to
the parties, the Guarantor hereby acknowledges, accepts and agrees to the changes made to the Existing Repurchase Agreement by this Amendment and affirms and confirms its obligations under the Guarantee. 
  

			
	GUARANTOR
	
	 CBRE REALTY FINANCE, INC.,
 a Maryland
corporation

		
	By:	 	 /s/ Paul Martin

	Name:	 	Paul Martin
	Title:	 	Executive Vice President

  

			
	CBRE REALTY FINANCE HOLDINGS, LLC,
	a Delaware limited liability company
		
	By:	 	 /s/ Paul Martin

	Name:	 	Paul Martin
	Title:	 	Managing DirectorPromissory Note

 Exhibit 4.1 
 PROMISSORY NOTE 
  

			
	$125,000,000	  	December 19, 2006
		  	New York, New York

 FOR VALUE RECEIVED, TAXI MEDALLION LOAN TRUST II, a Delaware statutory trust (the
“Borrower”), hereby promises to pay to the order of Citicorp North America, Inc. (the “Managing Agent”) for the benefit of the Lenders in the Managing Agent’s related Lender Group, in lawful money of the United
States, and in immediately available funds, the principal sum of $125,000,000 (or such lesser amount as shall equal the aggregate unpaid principal amount of the Advances made by the Lenders in the Managing Agent’s Lender Group to the Borrower
under the Loan Agreement), on the dates and in the principal amounts provided in the Loan Agreement, and to pay interest on the unpaid principal amount of each such Advance, at such office, in like money and funds, for the period commencing on the
date of such Advance until such Advance shall be paid in full, at the rates per annum and on the dates provided in the Loan Agreement. 
 This Note is one of the Notes referred to in that certain Loan and Security Agreement, dated as of December 19, 2006 (as amended, restated, supplemented or otherwise modified and in effect from time to time, the “Loan
Agreement”), by and among the Borrower, the Managing Agent, the other “Managing Agents” from time to time party thereto, the “Lenders” from time to time party thereto, and Citicorp North America, Inc., as Administrative
Agent. Terms used but not defined in this Note have the respective meanings assigned to them in the Loan Agreement. 
 The date and amount of
each Advance made by the Lenders in the Managing Agent’s Lender Group to the Borrower and each payment made on account of the principal thereof, shall be recorded by the Managing Agent on its books and, prior to any transfer of this Note,
endorsed by the Managing Agent on the schedules attached hereto and constituting a part hereof or any continuation thereof and any such recordation shall constitute Prima facie evidence of the accuracy of the information; provided, that the
failure of the Managing Agent to make any such recordation or endorsement shall not affect the obligations of the Borrower to make a payment when due of any amount owing under the Loan Agreement or hereunder in respect of the Advances made by the
Lenders in the Managing Agent’s Lender Group. 
 The Borrower agrees to pay all the Managing Agent’s and all of the Lenders’
in the Managing Agent’s Lender Group costs of collection and enforcement (including reasonable attorneys’ fees and disbursements of the Managing Agent’s and such Lenders’ counsel) in respect of this Note in accordance with the
Loan Agreement, including, without limitation, reasonable attorneys’ fees through appellate proceedings. 
 Notwithstanding the pledge
of the Collateral, the Borrower hereby acknowledges, admits and agrees that the Borrower’s obligations under this Note are recourse obligations of the Borrower to which the Borrower pledges its full faith and credit. 

 The Borrower (a) waives diligence, presentment, protest and demand and also notice of protest,
demand, dishonor and nonpayments of this Note, (b) expressly agrees that this Note, or any payment hereunder, may be extended from time to time, and consents to the acceptance of further Collateral, the release of any Collateral for this Note,
the release of any party primarily or secondarily liable hereon, and (c) expressly agrees that it will not be necessary for the Lender, in order to enforce payment of this Note, to first institute or exhaust the Lender’s remedies against
the Borrower or any other party liable hereon or against any Collateral for this Note. No extension of time for the payment of this Note, or any installment hereof, made by agreement by the Managing Agent with any person now or hereafter liable for
the payment of this Note, shall affect the liability under this Note of the Borrower, even if the Borrower is not a party to such agreement; provided, however, that the Lender and the Borrower, by written agreement among them, may
affect the liability of the Borrower. 
 Any reference herein to the Managing Agent shall be deemed to include and apply to every subsequent
holder of this Note. Reference is made to the Loan Agreement for provisions concerning optional and mandatory prepayments, Collateral, acceleration and other material terms affecting this Note. 
 This Note shall be governed by and construed under the laws of the State of New York whose laws the Borrower expressly elects to apply to this Note.
The Borrower agrees that any action or proceeding brought to enforce or arising out of this Note may be commenced in the Supreme Court of the State of New York, Borough of Manhattan, or in the District Court of the United States for the Southern
District of New York. 
  

			
	TAXI MEDALLION LOAN TRUST II
		
	By:	 	 /s/ Andrew M. Murstein

	Name:	 	Andrew M. Murstein
	Title:	 	President
		
	By:	 	 /s/ Alvin Murstein

	Name:	 	Alvin Murstein
	Title:	 	Vice President

  

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