Document:

EX-10.1

 Exhibit 10.1 

EXECUTION COPY 
 THIS AMENDMENT
NO. 7 (this “Amendment”) dated as of December 15, 2018 is entered into by and among TAXI MEDALLION LOAN TRUST III, a Delaware statutory trust (the “Borrower”), MEDALLION FUNDING LLC (successor by merger to
Medallion Funding Corp.), a New York limited liability company (the “Transferor”), MEDALLION FINANCIAL CORP., a Delaware corporation (“Parent”), MEDALLION CAPITAL, INC., a Minnesota corporation (“Medallion
Capital”), FRESHSTART VENTURE CAPITAL CORP., a New York corporation (“Freshstart” and, together with the Borrower, the Transferor, Parent and Medallion Capital, the “MF/Borrower Related Parties”),
AUTOBAHN FUNDING COMPANY LLC, a Delaware limited liability company (the “Lender”), and DZ BANK AG DEUTSCHE ZENTRAL-GENOSSENSCHAFTSBANK, FRANKFURT AM MAIN, as agent (in such capacity, the “Agent”). 

PRELIMINARY STATEMENTS 

A.    Reference is made to the Amended and Restated Loan and Security Agreement dated as of December 12, 2016 among
the Borrower, the Lender and the Agent (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Loan Agreement”). Capitalized terms used and not otherwise defined herein shall have the
meanings ascribed to them in the Loan Agreement. 
 B.    The parties hereto have agreed to amend the Loan Agreement on
the terms and conditions hereinafter set forth. 
 NOW, THEREFORE, in consideration of the premises set forth above, and other good and
valuable consideration the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows: 
 SECTION
1.    Amendment to the Loan Agreement. Effective as of the Effective Date (as defined below), the defined term “Scheduled Termination Date” set forth in Section 1.01 of the Loan Agreement is hereby amended
and restated in its entirety to read as follows: 
 ““Scheduled Termination Date” means January 15, 2019.”

 SECTION 2.    Condition Precedent. This Amendment shall become effective as of the date first written above
(the “Effective Date”) upon the Agent’s receipt of a copy of this Amendment duly executed by the Borrower, the Lender, the Agent, the Transferor and Parent. 

SECTION 3.    Release. Each of the MF/Borrower Related Parties hereby acknowledges and confirms on its own behalf
and on behalf of its officers and directors, and its respective predecessors, successors, assigns, agents and other legal representatives, and any Person claiming by or through any of them (collectively, the “Releasors”), that
(i) it does not have any grounds, and hereby agrees not to challenge (or to allege or to pursue any matter, cause or claim arising under or with respect to), in any case based upon acts or omissions of the Lender, Agent or any other Indemnified
Party occurring prior to the date hereof or facts otherwise known to it as of the date hereof, the effectiveness, genuineness, validity, collectability or enforceability of the Loan Documents and (ii) it does not possess, and hereby
unconditionally and forever waives, remises, releases, discharges and holds harmless the Lender, Agent and any other Indemnified Party, and each of their respective affiliates, stockholders, directors, officers, employees, attorneys, agents,
representatives, heirs, executors, administrators, successors and assigns, each Person acting or purporting to act for them or on their behalf, and the successors and assigns of any such Persons (collectively, the “Designated
Parties”), from and against, and agrees not to allege or pursue, 

 
any action, cause of action, suit, debt, liability, loss, expense, claim, counterclaim, cross-claim, demand, defense, offset, opposition, demand and other right of action whatsoever, whether now
known or unknown, past or present, asserted or unasserted, contingent or liquidated, whether in law, equity or otherwise, which any of the Releasors ever had, now have, may have, or claim to have against any of the Designated Parties, by reason of
any matter, cause or thing whatsoever, with respect to events or omissions occurring or arising on or prior to the date hereof and relating to the Loan Documents, any transaction relating thereto, or any actions or omissions in connection therewith
(collectively, the “Claims”). The foregoing release shall be construed in the broadest sense possible. 
 The MF/Borrower
Related Parties warrant and represent that they are the sole and lawful owners of all right, title, and interest in and to every Claim being released hereby and they have not assigned, pledged, hypothecated, or otherwise divested or encumbered all
or any part of any Claim being released hereby. The MF/Borrower Related Parties hereby agree to indemnify, defend, and hold harmless any and all of the Releasees from and against any Claims asserted against any Releasee based on, or arising in
connection with, any such prior assignment or transfer, whether actual or purported. The MF/Borrower Related Parties hereby absolutely, unconditionally, and irrevocably agree never to commence, prosecute, cause to be commenced or prosecuted,
voluntarily aid in any way, or foment any suit, action, or other proceeding (at law, in equity, in any regulatory proceeding, or otherwise) or otherwise seek any recovery against any of the Releasees based on any of the Claims being released hereby.
The MF/Borrower Related Parties hereby specifically warrant, represent, acknowledge, and agree that: (a) none of the provisions of this general release shall be construed as or constitute an admission of any liability on the part of any
Releasee; and (b) the provisions of this general release shall constitute an absolute bar to any Claim of any kind, whether any such Claim is based on contract, tort, warranty, mistake, or any other theory, whether legal, statutory, or
equitable. 
 SECTION 4.    Reference to and Effect on the Loan Agreement. 

4.1    Upon the effectiveness of this Amendment, each reference in the Loan Agreement to “this Agreement,”
“hereunder,” “hereof,” “herein,” “hereby” or words of like import shall mean and be a reference to the Loan Agreement as amended hereby, and each reference to the Loan Agreement in any other document,
instrument and agreement executed and/or delivered in connection with the Loan Agreement shall mean and be a reference to the Loan Agreement as amended hereby 

4.2    Except as specifically provided herein, the Loan Agreement, the other Loan Documents and all other documents,
instruments and agreements executed and/or delivered in connection therewith shall remain in full force and effect and are hereby ratified and confirmed. 

4.3    Except as expressly set forth herein, the execution, delivery and effectiveness of this Amendment shall not operate
as a waiver of any right, power or remedy of any party under any Loan Document or any other document, instrument, or agreement executed in connection therewith, nor constitute a waiver of any provision contained therein. 

SECTION 5.    Governing Law. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE
STATE OF NEW YORK (INCLUDING SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK BUT OTHERWISE WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES). 

SECTION 6.    Execution in 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 to be an original and all of which taken together shall constitute but one and the same instrument. Delivery of an executed counterpart
of this Amendment by facsimile or electronic mail shall be effective as delivery of a manually executed counterpart of this Amendment. 

  
 2 

 SECTION 7.    Headings. Section headings in this Amendment are
included herein for convenience of reference only and shall not constitute a part of this Amendment for any other purpose. 
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 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their
respective signatories thereunto duly authorized as of the date first written above. 
  

			
	TAXI MEDALLION LOAN TRUST III, as Borrower

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

  
 Amendment No. 7 

 
			
	MEDALLION FINANCIAL CORP.
		
	By	 	/s/Andrew M. Murstein

 
			
	Name: Andrew M. Murstein
	Title: President

  

			
	MEDALLION CAPITAL, INC.
		
	By	 	/s/Dean Pickerell

 
			
	Name: Dean Pickerell
	Title: Exec VP

  

			
	FRESHSTART VENTURE CAPITAL CORP.
		
	By	 	/s/Alvin Murstein

 
			
	Name: Alvin Murstein
	Title: Chairman & Chief Executive Officer

  
 Amendment No. 7 

 
			
	 DZ BANK AG DEUTSCHE

ZENTRAL-GENOSSENSCHAFTSBANK,
 FRANKFURT AM MAIN, as
Agent

 
			
		
	By	 	/s/Jayan Krishnan

 
			
	Name: Jayan Krishnan
	Title: Head of Asset Securitization Group

 
			
		
	By	 	/s/Mehul Patel

 
			
	Name: Mehul Patel
	Title: Vice President

  

			
	 AUTOBAHN FUNDING COMPANY LLC, as the Lender
  

By: DZ BANK AG DEUTSCHE
 ZENTRAL-GENOSSENSCHAFTSBANK,

FRANKFURT AM MAIN, its Attorney-in-Fact

 
			
		
	By	 	/s/Jayan Krishnan

 
			
	Name: Jayan Krishnan
	Title: Head of Asset Securitization Group

 
			
		
	By	 	/s/Mehul Patel

 
			
	Name: Mehul Patel
	Title: Vice President 

  
 Amendment No. 7 

 The undersigned hereby (i) acknowledges and agrees to the foregoing Amendment, (ii) reaffirms all
of its obligations under the Loan Documents to which it is a party and (iii) acknowledges and agrees that such other Loan Documents remain in full force and effect. 
  

			
	MEDALLION FUNDING LLC
		
	By	 	/s/Alvin Murstein
	Name: Alvin Murstein
	Title: Chairman & Chief Executive Officer

  
 Amendment No. 7AMENDMENT
#1

 

TO
THE $550,000 PROMISSORY NOTE DATED SEPTEMBER 14, 2018

 

The
parties agree that the $550,000 Fixed Convertible Promissory Note (the “Note”) by and between Indoor Harvest Corp.
(the “Borrower”) and Tangiers Global, LLC (the “Lender”) is hereby amended as described below. Any capitalized
terms not defined herein shall have the meaning ascribed to them in the Note.

 

	1.	Payment.
    The Lender shall make an additional payment to the Borrower of $171,050 of Consideration ($155,500 in cash and $15,550 in
    an OID) under the Note on or before December 13, 2018. 
	 	 
	2.	Use
    of Proceeds. The Company covenants that it will within, two months of this Additional Consideration Date, it shall use
    approximately $155,500 of the proceeds in the manner set forth below (the “Use of Proceeds”):
	 	 
	 	$65,000
    G&A Expenses, $17,500 HPA Pilot Systems, $25,000 2018 Audit, $20,000 Legal, $8,000 Accounting, $20,000 Proxy to restate
    articles
	 	 
	3.	Independent
    Transactions. The Borrower understands and agrees that the Note sets forth the terms for a series of independent transactions
    in which the Lender may elect to make a payment of Consideration to the Borrower with each payment of Consideration creating
    a separate obligation of the Borrower to the Lender with the terms set forth in the Note. Accordingly, the Maturity Date of
    each payment of Consideration, and the repayment terms for each payment of Consideration, are as set forth in the Note.
	 	 
	4.	The
    Borrower confirms that it has not undertaken any capital raise, whether through debt or equity, with any other party since
    the Effective Date of the Note.

 

ALL
OTHER TERMS AND CONDITIONS OF THE NOTE REMAIN IN FULL FORCE AND EFFECT.

 

Please
indicate acceptance and approval of this amendment dated December 12, 2018 by signing below:

 

	/s/ Chad Sykes	 	/s/ Justin Ederle
	Indoor Harvest Corp. 	 	Tangiers Global, LLC
	 	 	 	 	 
	By:
    	Chad
    Sykes	 	By:	Justin
Ederle
	Its:
    	Principal
    Accounting Officer	 	Its:
	Managing
    Member

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