Document:

<PAGE>   1
                                                                   EXHIBIT 10.24

             AMENDMENT NUMBER THIRTEEN TO CONSOLIDATED, AMENDED AND
                      RESTATED LOAN AND SECURITY AGREEMENT

               THIS AMENDMENT NUMBER THIRTEEN TO CONSOLIDATED, AMENDED AND
RESTATED LOAN AND SECURITY AGREEMENT (this "Amendment"), is entered into as of
April ____, 2001 between FOOTHILL CAPITAL CORPORATION, a California corporation
("Foothill"), with a place of business located at 2450 Colorado Avenue, Suite
3000W, Santa Monica, California 90404, MALIBU ENTERTAINMENT WORLDWIDE, INC., a
Georgia corporation ("MEWI"), with its chief executive office located at 717
North Harwood, Suite 1650, Dallas, Texas 75201, MOUNTASIA MANAGEMENT COMPANY, a
Georgia corporation ("MMC"), with its chief executive office located at 717
North Harwood, Suite 1650, Dallas, Texas 75201, MALIBU GRAND PRIX CORPORATION, a
Delaware corporation ("MGPC"), with its chief executive office located at 717
North Harwood, Suite 1650, Dallas, Texas 75201, TUCSON MGPC, INC., an Arizona
corporation ("Tucson"), with its chief executive office located at 717 North
Harwood, Suite 1650, Dallas, Texas 75201, PUENTE HILLS MGPC, INC., a California
corporation ("PH"), with its chief executive office located at 717 North
Harwood, Suite 1650, Dallas, Texas 75201, PUENTE HILLS SHOWBOAT MGPC, INC., a
California corporation ("PHS"), with its chief executive office located at 717
North Harwood, Suite 1650, Dallas, Texas 75201, REDONDO BEACH CASTLE MGPC, INC.,
a California corporation ("RBC"), with its chief executive office located at 717
North Harwood, Suite 1650, Dallas, Texas 75201, REDWOOD CITY CASTLE MGPC, INC.,
a California corporation ("RCC"), with its chief executive office located at 717
North Harwood, Suite 1650, Dallas, Texas 75201, SAN DIEGO MGPC, INC., a
California corporation ("San Diego"), with its chief executive office located at
717 North Harwood, Suite 1650, Dallas, Texas 75201, PORTLAND MGPC, INC., an
Oregon corporation ("Portland"), with its chief executive office located at 717
North Harwood, Suite 1650, Dallas, Texas 75201, DALLAS CASTLE MGPC, INC., a
Texas corporation ("DC"), with its chief executive office located at 717 North
Harwood, Suite 1650, Dallas, Texas 75201, SAN ANTONIO CASTLE MGPC, INC., a Texas
corporation ("SAC"), with its chief executive office located at 717 North
Harwood, Suite 1650, Dallas, Texas 75201, SAN ANTONIO MGPC, INC., a Texas
corporation ("San Antonio"), with its chief executive office located at 717
North Harwood, Suite 1650, Dallas, Texas 75201, MOUNTASIA DEVELOPMENT COMPANY, a
Georgia corporation ("MDC"), with its chief executive office located at 717
North Harwood, Suite 1650, Dallas, Texas 75201, MALIBU GRAND PRIX DESIGN &
MANUFACTURING, INC., a California corporation ("MGPDMI"), with its chief
executive office located at 717 North Harwood, Suite 1650, Dallas, Texas 75201,
MALIBU GRAND PRIX FINANCIAL SERVICES, INC., a California corporation ("MGPFSI"),
with its chief executive office located at 717 North Harwood, Suite 1650,
Dallas, Texas 75201, OFF TRACK MANAGEMENT, INC., a California corporation ("Off
Track"), with its chief executive office located at 717 North Harwood, Suite
1650, Dallas, Texas 75201, MGP SPECIAL, INC., a California corporation
("Special"), with its chief executive office located at 717 North Harwood, Suite
1650, Dallas, Texas 75201, AMUSEMENT MANAGEMENT FLORIDA, INC., a Florida
corporation

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("Amusement"), with its chief executive office located at 717 North
Harwood, Suite 1650, Dallas, Texas 75201, MALIBU GRAND PRIX CONSULTING, INC., a
California corporation ("Consulting"), with its chief executive office located
at 717 North Harwood, Suite 1650, Dallas, Texas 75201, MOUNTASIA - MEI
INTERNATIONAL, INC., a Georgia corporation ("MMEII"), with its chief executive
office located at 717 North Harwood, Suite 1650, Dallas, Texas 75201, MOUNTASIA
- MEI LIMITED COMPANY, INC., a California corporation ("MMEILC"), with its chief
executive office located at 717 North Harwood, Suite 1650, Dallas, Texas 75201,
MOUNTASIA - MEI CALIFORNIA, INC., a California corporation ("MCNC"), with its
chief executive office located at 717 North Harwood, Suite 1650, Dallas, Texas
75201, MOUNTASIA - MEI CALIFORNIA LIMITED PARTNERSHIP, a California limited
partnership ("MMEICLP"), with its chief executive office located at 717 North
Harwood, Suite 1650, Dallas, Texas 75201, MOUNTASIA FAMILY ENTERTAINMENT
CENTERS, INC., a Texas corporation ("MFEC"), with its chief executive office
located at 717 North Harwood, Suite 1650, Dallas, Texas 75201, and MALIBU
CENTERS, INC., a California corporation ("MCI"), with its chief executive office
located at 717 North Harwood, Suite 1650, Dallas, Texas 75201.

                                    Recitals:

A.      Borrower and Foothill are parties to the Consolidated, Amended, and
        Restated Loan and Security Agreement, entered into as of August 22, 1996
        (as amended from time to time prior to the date hereof, the "Loan
        Agreement").

B.      Borrower has requested that Foothill extend the date on which the
        mandatory prepayment of the Obligations are due from April 30, 2001 to
        May 31, 2001; and

C.      Foothill is willing to consent to the extension of the mandatory
        prepayment date from April 30, 2001 to May 31, 2001 on the terms and
        conditions set forth herein.

                                   Agreement:

                NOW, THEREFORE, in consideration of the mutual promises
contained herein, Foothill and Borrower hereby agree as follows:

                1. Definitions. All capitalized terms used herein and not
defined herein shall have the meanings ascribed to them in the Loan Agreement.

                2. Amendments to the Loan Agreement.

                        a.      Section 1.1 of the Loan Agreement hereby is
                                amended by adding or amending and restating, as
                                applicable, each of the following definitions in
                                alphabetical order:

                                       2
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               "Thirteenth Amendment" means that certain Amendment Number
Thirteen to Consolidated, Amended, and Restated Loan and Security Agreement,
dated as of April ___, 2001.

               "Thirteenth Amendment Closing Date" means the date on which each
of the conditions precedent set forth in Section 3 of the Thirteenth Amendment
are satisfied in full.

                        b.      Section 2.12(b) of the Loan Agreement hereby is
                                amended and restated in its entirety as follows:

                (b)     On or before May 31, 2001, Borrower shall make a
mandatory prepayment of the Obligations in an amount sufficient to reduce the
aggregate amount of the Obligations outstanding to not more than $9,000,000.

                3. Condition to the Effectiveness of this Amendment. The
effectiveness of this Amendment is subject to the fulfillment, to the
satisfaction of Foothill, of each of the following conditions precedent:

                        a.      Foothill shall have received on or before the
                                Thirteenth Amendment Closing Date, this
                                Amendment, duly executed and in form and
                                substance satisfactory to Foothill.

                        b.      The representations and warranties in this
                                Amendment, the Agreement as amended by this
                                Amendment, and the other Loan Documents shall be
                                true and correct in all material respects on and
                                as of the date hereof as though made on such
                                date (except to the extent that such
                                representations and warranties relate solely to
                                an earlier date);

                        c.      After giving effect hereto, no Default or Event
                                of Default shall have occurred and be continuing
                                on the date hereof, nor shall result from the
                                consummation of the transactions contemplated
                                herein; and

                        d.      No injunction, writ, restraining order, or other
                                order of any nature prohibiting, directly or
                                indirectly, the consummation of the transactions
                                contemplated herein shall have been issued and
                                remain in force by any governmental authority
                                against Borrower, Foothill, or any of their
                                respective Affiliates.

                4. Representations and Warranties. Borrower hereby represents
and warrants to Foothill that (a) the execution, delivery, and performance of
this Amendment are within its corporate powers, have been duly authorized by all
necessary corporate action, and are not in contravention of any law, rule, or
regulation, or any order, judgment, decree, writ, injunction, or award of any
arbitrator, court, or governments authority, or of the terms of its charter or

                                       3
<PAGE>   4

bylaws, or of any contract or undertaking to which it is a party or by which any
of its properties may be bound or affected, (b) the Loan Agreement, as amended
by this Amendment, constitutes Borrower's legal, valid, and binding obligation,
enforceable against Borrower in accordance with its terms, and (c) this
Amendment has been duly executed and delivered.

                5. Further Assurances. Borrower shall execute and deliver all
financing statements, agreements, documents, and instruments, in form and
substance satisfactory to Foothill, and take all actions as Foothill may
reasonably request from time to time, to perfect and maintain the perfection and
priority of Foothill's security interests in the Collateral, and to fully
consummate the transactions contemplated under the Loan Agreement and this
Amendment.

                6. Effect on Loan Documents. The Loan Agreement, as amended
hereby, and the other Loan Documents shall be and remain in full force and
effect in accordance with their respective terms and each hereby is ratified and
confirmed in all respects. Except as expressly set forth herein, the execution,
delivery, and performance of this Amendment shall not operate as a waiver of or
as an amendment of any right, power, or remedy of Foothill under the Loan
Agreement, as in effect prior to the date hereof.

                7. Miscellaneous.

                        a.      Upon the effectiveness of this Amendment, each
                                reference in the Loan Agreement to "this
                                Agreement", "hereunder", "herein", "hereof" or
                                words of like import referring to the Loan
                                Agreement shall mean and refer to the Loan
                                Agreement as amended by the First Amendment, the
                                Second Amendment, the Third Amendment, the
                                Fourth Amendment, the Fifth Amendment, the Sixth
                                Amendment, the Seventh Amendment, the Eighth
                                Amendment, the Ninth Amendment, the Tenth
                                Amendment, the Eleventh Amendment, Twelfth
                                Amendment, and this Amendment.

                        b.      Upon the effectiveness of this Amendment, each
                                reference in the Loan Documents to the "Loan
                                Agreement", "thereunder", "therein", 'thereof"
                                or words of like import referring to the Loan
                                Agreement shall mean and refer to the Loan
                                Agreement as amended by the First Amendment, the
                                Second Amendment, the Third Amendment, the
                                Fourth Amendment, the Fifth Amendment, the Sixth
                                Amendment, the Seventh Amendment, the Eighth
                                Amendment, the Ninth Amendment, the Tenth
                                Amendment, the Eleventh Amendment, Twelfth
                                Amendment, and this Amendment.

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<PAGE>   5

                        c.      This Amendment shall be governed by and
                                construed in accordance with the laws of the
                                State of California.

                        d.      This Amendment may be executed in any number of
                                counterparts and by different parties on
                                separate counterparts, each of which, when
                                executed and delivered, shall be deemed to be an
                                original, and all of which, when taken together,
                                shall constitute but one and the same Amendment.
                                Delivery of an executed counterpart of this
                                Amendment by telefacsimile shall be equally as
                                effective as delivery of an original executed
                                counterpart of this Amendment. Any party
                                delivering an executed counterpart of this
                                Amendment by telefacsimile also shall deliver an
                                original executed counterpart of this Amendment
                                but the failure to deliver an original executed
                                counterpart shall not affect the validity,
                                enforceability, and binding effect of this
                                Amendment.

                        [The remainder of this page is intentionally left blank]

                                       5
<PAGE>   6

                IN WITNESS WHEREOF, the parties hereto have caused this
Amendment to be executed on the date first written above.

                MALIBU ENTERTAINMENT WORLDWIDE, INC., a Georgia corporation
                MOUNTASIA FAMILY ENTERTAINMENT CENTERS, INC., a Texas
                  corporation
                MOUNTASIA MANAGEMENT COMPANY, a Georgia corporation
                MALIBU GRAND PRIX CORPORATION, a Delaware corporation
                TUCSON MGPC, INC., an Arizona corporation
                PUENTE HILLS MGPC, INC., a California corporation
                PUENTE HILLS SHOWBOAT MGPC, INC., a California corporation
                REDONDO BEACH CASTLE MGPC, INC., a California corporation
                REDWOOD CITY CASTLE MGPC, INC., a California corporation
                SAN DIEGO MGPC, INC., a California corporation
                PORTLAND MGPC, INC., an Oregon corporation
                DALLAS CASTLE MGPC, INC., a Texas corporation
                SAN ANTONIO CASTLE MGPC, INC., a Texas corporation
                SAN ANTONIO MGPC, INC., a Texas corporation
                MOUNTASIA DEVELOPMENT COMPANY, a Georgia corporation
                MALIBU GRAND PRIX DESIGN & MANUFACTURING, INC., a California
                  corporation
                MALIBU GRAND PRIX FINANCIAL SERVICES, INC., a California
                  corporation
                OFF TRACK MANAGEMENT, INC., a California corporation
                MGP SPECIAL, INC., a California corporation
                AMUSEMENT MANAGEMENT FLORIDA, INC., a Florida corporation
                MALIBU GRAND PRIX CONSULTING, INC., a California corporation
                MOUNTASIA - MEI INTERNATIONAL, INC., a Georgia corporation
                MOUNTASIA - MEI LIMITED COMPANY, INC., a California corporation
                MOUNTASIA - MEI CALIFORNIA, INC., a California corporation
                MOUNTASIA - MEI INTERNATIONAL, INC., a Georgia corporation, in
                  its capacity as general partner of MOUNTASIA - MEI CALIFORNIA
                LIMITED PARTNERSHIP, a California limited partnership
                MALIBU CENTERS, INC., a California corporation

                By:
                   ------------------------------------------
                Name:
                Title:  Responsible officer for each of the
                        above referenced Persons composing Borrower

                           [signature page continues]

                                       6
<PAGE>   7

                                               FOOTHILL CAPITAL CORPORATION,
                                               a California corporation

                                               By:
                                                  ------------------------------
                                               Name:
                                               Title:

                                       7<PAGE>   1

                                                                    EXHIBIT 10.1

                                SECOND AMENDMENT

         This SECOND AMENDMENT dated as of May 4, 2001 (this "Amendment), is
made by and among (a) AVIALL, INC, a Delaware corporation (the "Borrower"), (b)
FLEET NATIONAL BANK (formerly known as BankBoston, N.A.), a national banking
association, as administrative agent (in such capacity the "Agent") for the
Banks referred to below and as Issuing Bank, (c) BANK OF AMERICA, N.A., as
documentation agent, and (d) FLEET NATIONAL BANK, BANK OF AMERICA, N.A. and the
other lending institutions from time to time parties to the Credit Agreement
referred to below (collectively, the "Banks"). Terms not otherwise defined
herein that are defined in the Credit Agreement referred to below shall have the
respective meanings herein assigned to such terms in the Credit Agreement.

         WHEREAS, the Borrower, the Banks and the Agent are parties to that
certain Revolving Credit and Term Loan Agreement, dated as of December 23, 1999,
as amended by the First Amendment, dated as of October 2, 2000 (as further
amended, modified, supplemented or restated and in effect from time to time, the
"Credit Agreement");

         WHEREAS, the Borrower has requested that the Banks amend certain terms
of the Credit Agreement in order, among other things, to increase the amount of
Revolving Credit Loans available to the Borrower by the aggregate amount of
$30,000,000 in connection with the Borrower's assumption of certain parts
distribution and servicing agreements; and

         WHEREAS, the Banks have agreed, subject to the terms and conditions set
forth in this Amendment, to amend the Credit Agreement as set forth herein;

         NOW, THEREFORE, in consideration of the mutual agreements contained in
the Credit Agreement and in this Amendment and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto hereby agree as follows:

         SECTION 1. AMENDMENTS TO THE CREDIT AGREEMENT. Subject to the
satisfaction of the conditions set forth in Section 4 below, the Credit
Agreement is hereby amended as follows:

                  SECTION 1.1.  AMENDMENTS TO DEFINITIONS.

                  (a) The definition of "Agent" set forth in Section 1.1 of the
         Credit Agreement is hereby amended by deleting the words "BankBoston,
         N.A." and replacing them with the words "Fleet National Bank". All
         references in the Credit Agreement and the other Loan Documents to the
         "Agent" shall hereafter be deemed references to Fleet National Bank in
         its capacity as administrative agent for the Banks.

                  (b) The definition of "Applicable Margin" set forth in Section
         1.1 of the Credit Agreement is hereby amended by deleting the table set
         forth in such definition in its entirety and by replacing it with the
         following new table:

<PAGE>   2
                                      -2-

<TABLE>
<CAPTION>
                                                                            Eurodollar
                        Total Funded Debt to             Base Rate            Rate             Commitment
            Level         Pro-Forma EBITDA                 Loans              Loans               Fees
            -----       --------------------             ---------          ----------         ----------
<S>                   <C>                                <C>                <C>                <C>
               I      Greater than or equal to
                      3.00:1.00                             1.50%              2.50%               0.50%

              II      Less than 3.00:1.00 but
                      greater than or equal to              1.25%              2.25%               0.45%
                      2.50:1.00

             III      Less than 2.50:1.00 but
                      greater than or equal to              1.00%              2.00%               0.35%
                      2.00:1.00

              IV      Less than 2.00:1.00 but               0.75%              1.75%               0.30%
                      greater than or equal to
                      1.50:1.00

               V      Less than 1.50:1.00                   0.50%              1.50%               0.250%
</TABLE>

                  The definition of "Applicable Margin" is hereby further
         amended by deleting the existing clause (a) in the paragraph
         immediately following the table in such definition in its entirety and
         replacing it with the following new clause (a):

                  "(a) from the Second Amendment Effective Date until delivery
                  by the Borrower to the Agent of a Compliance Certificate
                  pursuant to Section 9.4(c) for the Reference Period ending
                  December 31, 2001, the Applicable Margin shall be the
                  Applicable Margin set forth above in Level I, and"

                  (c) The definition of "BKB" set forth in Section 1.1 of the
         Credit Agreement is hereby deleted in its entirety. All references in
         the Credit Agreement and the other Loan Documents to "BKB" shall
         hereafter be deemed references to Fleet National Bank in its capacity
         as a Bank.

                  (d) The definition of "Borrowing Base" set forth in Section
         1.1 of the Credit Agreement is hereby amended by replacing the comma at
         the end of clause (c) thereof with a semicolon and by inserting,
         immediately after such clause (c), the word "minus", and the following
         additional clause:

                  "(d) from and after June 30, 2002, the then outstanding
                  principal amount of the Term Loan,"

<PAGE>   3
                                      -3-

                  (e) The definition of "Fee Letter" set forth in Section 1.1 of
         the Credit Agreement is hereby amended by deleting the words "November
         23, 1999 among the Borrower, FBRS and the Agent" and replacing them
         with the words "April 4, 2001 among the Borrower, Fleet Securities,
         Inc. and the Agent".

                  (f) The definition of "Leverage Ratio" set forth in Section
         1.1 of the Credit Agreement is hereby amended by deleting the existing
         definition in its entirety and replacing it with the following new
         definition:

                           "Leverage Ratio. As at any date of determination, the
                  ratio of (a) Total Funded Indebtedness outstanding on such
                  date to (b) EBITDA for the Reference Period ended on such
                  date; provided that, for purposes of calculating the Leverage
                  Ratio only, EBITDA shall be increased by (a) the amount of the
                  applicable Honeywell Fuel Systems Credit for each of the
                  Reference Periods ending on March 31, 2001, June 30, 2001,
                  September 30, 2001 and December 31, 2001, and (b) the amount
                  of the applicable Honeywell Airline Systems Credit for each of
                  the Reference Periods ending on June 30, 2001, September 30,
                  2001, December 31, 2001 and March 31, 2002.

                  (g) The definition of "Total Commitment" set forth in Section
         1.1 of the Credit Agreement is hereby amended by deleting the final
         sentence thereof in its entirety and by replacing it with the following
         new sentence definition:

                  "On the Second Amendment Effective Date, the Total Commitment
                  is $120,000,000."

                  (h) Section 1.1 of the Credit Agreement is hereby further
         amended by inserting, in the appropriate place in the alphabetical
         order, the following new definitions:

                           "Airline Systems Amount. The expected annual
                  incremental EBITDA of the Borrower and its Subsidiaries
                  arising from the distribution services arrangements under the
                  Honeywell Airline Systems Contract, as previously described to
                  the Agent and as such amount is set forth in the Compliance
                  Certificate delivered to the Agent pursuant to Section 9.4(c)
                  for the Reference Period ended June 30, 2001; provided that in
                  no event shall the Airline Systems Amount exceed $ 6,000,000."

                           "Airline Systems Start Date. The date on which the
                  Borrower commenced material sales of products and services
                  related to the Honeywell Airline Systems Contract, as set
                  forth in the Compliance Certificate delivered to the Agent
                  pursuant to Section 9.4(c) for the Reference Period ended June
                  30, 2001; provided that in no event shall the Airline Systems
                  Start Date be later than June 30, 2001."

                           "Fleet. Fleet National Bank, a national banking
                  association, in its capacity as a Bank."

<PAGE>   4
                                      -4-

                           "Fuel Systems Amount. The expected annual incremental
                  EBITDA of the Borrower and its Subsidiaries arising from the
                  distribution services arrangements under the Honeywell 250
                  Fuel Systems Contract, as previously described to the Agent
                  and as such amount is set forth in the Compliance Certificate
                  delivered to the Agent pursuant to Section 9.4(c) for the
                  Reference Period ended March 31, 2001; provided that in no
                  event shall the Fuel Systems Amount exceed $4,000,000."

                           "Fuel Systems Start Date. The date on which the
                  Borrower commenced material sales of products and services
                  related to the Honeywell 250 Fuel Systems Contract, as set
                  forth in the Compliance Certificate delivered to the Agent
                  pursuant to Section 9.4(c) for the Reference Period ended
                  March 31, 2001; provided that in no event shall the Airline
                  Systems Start Date be later than March 31, 2001."

                           "Honeywell 250 Fuel Systems Contract. Means that
                  certain Agreement, dated December 28, 2000, by and between
                  Honeywell International Inc. ("Honeywell") and Services, in
                  the form delivered to the Agent on or before the Second
                  Amendment Effective Date, whereby, among other things,
                  Services agrees to distribute certain hydrochemical controls
                  products manufactured by Honeywell for use on the Allison
                  Rolls Royce 250 Series Engine and the Honeywell LT101 Series
                  engines."

                           "Honeywell Airline Systems Contract. Means that
                  certain Distributor Agreement, dated as of March 23, 2001, by
                  and between Honeywell and Services in the form delivered to
                  the Agent on or before the Second Amendment Effective Date,
                  whereby, among other things, Services agrees to distribute
                  certain products manufactured by Honeywell for use on various
                  commercial air transport and regional engine and aircraft
                  applications."

                           "Honeywell Airline Systems Credit. For each of the
                  Reference Periods ended June 30, 2001, September 30, 2001,
                  December 31, 2001 and March 31, 2002, the amount equal to the
                  Airline Systems Amount multiplied by a fraction the numerator
                  of which is equal to (a) twelve (12) minus (b) the number of
                  months elapsed from the Airline Systems Start Date to the end
                  of the applicable Reference Period, and the denominator of
                  which is equal to twelve (12).

                           "Honeywell Fuel Systems Credit. For each of the
                  Reference Periods ended March 31, 2001, June 30, 2001,
                  September 30, 2001 and December 31, 2001, the amount equal to
                  the Fuel Systems Amount multiplied by a fraction the numerator
                  of which is equal to (a) twelve (12) minus (b) the number of
                  months elapsed from the Fuel Systems Start Date to the end of
                  the applicable Reference Period, and the denominator of which
                  is equal to twelve (12).

                           "Second Amendment Effective Date.  May 4, 2001."

                  SECTION 1.2 AMENDMENT TO SECTION 2.4 OF THE CREDIT AGREEMENT.
         Section 2.4 of the Credit Agreement is hereby amended by deleting the
         phrase "dated as of the Closing Date and" from the first sentence of
         such Section.

<PAGE>   5
                                      -5-

                  SECTION 1.3 AMENDMENT TO SECTION 8.17 OF THE CREDIT AGREEMENT.
         Section 8.17 of the Credit Agreement is hereby amended by inserting the
         following new sentence immediately after the end of the first sentence
         of such Section:

                           "The proceeds of Revolving Credit Loans made on or
                  after the Second Amendment Effective Date shall be used to
                  support increased working capital requirements of the Borrower
                  in connection with the assumption of distribution services
                  under the Honeywell 250 Fuel Systems Contract and the
                  Honeywell Airline Systems Contract and for other working
                  capital and general corporate purposes."

                  SECTION 1.4 AMENDMENT TO SECTION 9.12 OF THE CREDIT AGREEMENT.
         Section 9.12 of the Credit Agreement is hereby amended by inserting the
         following new sentence immediately after the end of the first sentence
         of such Section:

                           "The Borrower will use the proceeds of Revolving
                  Credit Loans made on or after the Second Amendment Effective
                  Date to support increased working capital requirements of the
                  Borrower in connection with the assumption of distribution
                  services under the Honeywell 250 Fuel Systems Contract and the
                  Honeywell Airline Systems Contract, for payment of transaction
                  fees and expenses, for Capital Expenditures and for working
                  capital and general corporate purposes."

                  SECTION 1.5 AMENDMENTS TO SCHEDULE 1 AND EXHIBITS TO THE
         CREDIT AGREEMENT.

                  (a) Schedule 1 to the Credit Agreement is hereby amended by
         replacing it with the new Schedule 1 attached hereto. All references in
         the Credit Agreement and the other Loan Documents to "Schedule 1" shall
         hereafter be deemed references to the new Schedule 1 attached hereto.

                  (b) Exhibit A to the Credit Agreement is hereby amended by
         replacing it with the new Exhibit A attached hereto. All references
         herein and in the Credit Agreement and the other Loan Documents to
         "Exhibit A" or to the "Borrowing Base Report" shall hereafter be deemed
         references to the new Exhibit A attached hereto.

                  (c) Exhibit F to the Credit Agreement is hereby amended by
         replacing it with the new Exhibit F attached hereto. All references
         herein and in the Credit Agreement and the other Loan Documents to
         "Exhibit F" or to a "Revolving Credit Note" shall hereafter be deemed
         references to the Amended and Restated Revolving Credit Notes executed
         in substantially the form of the new Exhibit F attached hereto.

                  (d) Exhibit I to the Credit Agreement is hereby amended by
         replacing it with the new Exhibit I attached hereto. All references
         herein and in the Credit Agreement and the other Loan Documents to
         "Exhibit I" or to the "Compliance Certificate" shall hereafter be
         deemed references to the new Exhibit I attached hereto.

<PAGE>   6
                                      -6-

         SECTION 2. INCREASE OF TOTAL COMMITMENT. The Banks hereby consent to
the increase in the Total Commitment from $90,000,000 to $120,000,000, such
increase allocated to each Bank such that, after giving effect to such increase,
each Bank's Commitment shall be that set forth opposite its name on the attached
Schedule 1 and evidenced by an amended and restated Revolving Credit Note dated
as of the Second Amendment Effective Date.

         SECTION 3. GUARANTORS' CONSENT. Each of the Guarantors hereby consents
to the amendments to the Credit Agreement set forth in this Amendment, and each
confirms its obligation to the Agent and the Banks under its Guaranty and agrees
that its guaranty of the Obligations under the Credit Agreement shall extend to
and include the Credit Agreement as amended by this Amendment.

         SECTION 4. REPRESENTATIONS, WARRANTIES AND COVENANTS; NO DEFAULT;
AUTHORIZATION. The Borrower hereby represents, warrants and covenants to the
Agent and the Banks as follows:

                  (a) each of the representations and warranties of the Borrower
         contained in the Credit Agreement was true in all material respects as
         of the date as of which it was made, and except to the extent of
         changes resulting from transactions contemplated or permitted by the
         Credit Agreement and the other Loan Documents and changes occurring in
         the ordinary course of business that singly or in the aggregate are not
         materially adverse or to the extent that such representations and
         warranties relate expressly to an earlier date, such representations
         and warranties also are true in all material respects as of the date of
         this Amendment, and no Default or Event of Default has occurred and is
         continuing as of the date of this Amendment after giving effect to this
         Amendment;

                  (b) this Amendment has been duly authorized, executed and
         delivered by each of the Borrowers and Guarantors and is in full force
         and effect; and

                  (c) upon the execution and delivery of this Amendment by the
         respective parties hereto, this Amendment shall constitute the legal,
         valid and binding obligation of the Borrowers and the Guarantors,
         enforceable in accordance with its terms, except that the
         enforceability thereof may be subject to any applicable bankruptcy,
         reorganization, insolvency or other laws affecting creditors' rights
         generally.

         SECTION 5. CONDITIONS TO EFFECTIVENESS. The effectiveness of this
Amendment shall be subject to the satisfaction of the following conditions
precedent:

                  (a) This Amendment shall have been duly executed and delivered
         by the Borrower, each Guarantor and each of the Banks.

                  (b) The Agent shall have received amended and restated
         Revolving Credit Notes in the amounts and in favor of the Banks set
         forth on the attached Schedule 1, duly executed and delivered by the
         Borrower and in full force and effect.

                  (c) The Agent shall have received copies, certified as being
         true, correct and complete by an officer of the Borrower, of the duly
         executed Honeywell 250 Fuel

<PAGE>   7
                                      -7-

         Systems Contract and the duly executed Honeywell Airline Systems
         Contract, in each case in form and substance satisfactory to the Agent.
         The Agent shall have received evidence satisfactory to it that all
         conditions to the effectiveness of each such Contract shall have been
         satisfied on or prior to the Second Amendment Effective Date.

                  (d) The Borrower shall have delivered to the Agent a
         Compliance Certificate in the form of Exhibit I attached hereto for the
         Reference Period ended March 31, 2001 demonstrating compliance with the
         covenants contained in Section 11 of the Credit Agreement, as amended
         by this Amendment.

                  (e) The Borrower shall have paid all fees in such amounts and
         at such times as provided therefor in the Fee Letter.

                  (f) The Agent shall have received a copy of each Assignment
         and Acceptance (if any) executed in connection with this Amendment,
         each of which shall have been duly executed by the assigning Bank, the
         assignee and consented to by the Borrower.

                  (g) The Agent shall have received an opinion of counsel to the
         Borrowers and the Guarantors addressed to the Banks and the Agent in
         form and substance reasonably satisfactory to the Agent.

                  (h) The Agent shall have received all such UCC-1 financing
         statements, UCC-3 amendments and other instruments and agreements as
         the Agent may request in order to confirm that the Security Documents
         shall continue to be effective to create in favor of the Agent a legal,
         valid and enforceable first priority security interest and lien upon
         the Collateral other than the Mortgaged Property. The Borrower shall
         have paid all recording fees, taxes and other charges in connection
         with all such instruments and agreements.

         SECTION 6. RATIFICATION, ETC. Except as expressly amended hereby, the
Credit Agreement and all documents, instruments and agreements related thereto
are hereby ratified and confirmed in all respects. All references in the Credit
Agreement or any related agreement or instrument shall hereafter refer to the
Credit Agreement as amended hereby.

         SECTION 7. NO IMPLIED WAIVER. Except as expressly provided herein,
nothing contained herein shall constitute a waiver of, impair or otherwise
affect any Obligations, any other obligations of any of the Borrowers or
Guarantors or any right of the Agent or any Bank consequent thereon.

         SECTION 8. COUNTERPARTS. This Amendment may be executed in one or more
counterparts, each of which shall be deemed an original but which together shall
constitute one and the same instrument.

         SECTION 9. GOVERNING LAW. THIS AMENDMENT SHALL FOR ALL PURPOSES BE
GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE COMMONWEALTH OF
MASSACHUSETTS (WITHOUT REFERENCE TO PRINCIPLES OF CONFLICTS OF LAW).

<PAGE>   8
                                      -8-

         IN WITNESS WHEREOF, the undersigned have duly executed this Amendment
as a sealed instrument as of the date first above written.

               Borrower:     AVIALL, INC.

                             By:
                                 -----------------------------------------------
                             Name:
                             Title:

               Guarantors:   AVIALL SERVICES, INC.

                             By:
                                 -----------------------------------------------
                                    Name:
                                    Title:

                             AVIALL PRODUCT REPAIR
                             SERVICES, INC.

                             By:
                                 -----------------------------------------------
                                    Name:
                                    Title:

                             INVENTORY LOCATOR SERVICE, LLC
                             (SUCCESSOR BY MERGER TO INVENTORY LOCATOR SERVICE,
                             INC.)

                             By:
                                 -----------------------------------------------
                                    Name:
                                    Title:

<PAGE>   9

                  Agent and Banks:   FLEET NATIONAL BANK
                                     (f/k/a BankBoston, N.A.),
                                     individually, as Administrative Agent
                                     and as Issuing Bank

                                     By:
                                         ---------------------------------------
                                     Name:
                                     Title:

<PAGE>   10

                                     BANK OF AMERICA, N.A., individually and
                                     as Documentation Agent

                                     By:
                                         ---------------------------------------
                                     Name:
                                     Title:

<PAGE>   11

                                     NATIONAL BANK OF CANADA

                                     By:
                                         ---------------------------------------
                                     Name:
                                     Title:

                                     By:
                                         ---------------------------------------
                                     Name:
                                     Title:

<PAGE>   12

                                     BANK OF SCOTLAND

                                     By:
                                         ---------------------------------------
                                     Name:
                                     Title:

<PAGE>   13

                                     COMERICA BANK

                                     By:
                                         ---------------------------------------
                                     Name:
                                     Title:

<PAGE>   14

                                     COMPASS BANK

                                     By:
                                         ---------------------------------------
                                     Name:
                                     Title:

<PAGE>   15

                                     FIRSTAR BANK (f/k/a)
                                     MERCANTILE BANK
                                       NATIONAL ASSOCIATION

                                     By:
                                         ---------------------------------------
                                     Name:
                                     Title:

<PAGE>   16

                                     NATIONAL CITY BANK

                                     By:
                                         ---------------------------------------
                                     Name:
                                     Title:

<PAGE>   17

                                     SANWA BANK CALIFORNIA

                                     By:
                                         ---------------------------------------
                                     Name:
                                     Title:

<PAGE>   18

                                     TRANSAMERICA BUSINESS
                                       CAPITAL CORPORATION

                                     By:
                                         ---------------------------------------
                                     Name:
                                     Title:

<PAGE>   19

                                     ALLFIRST BANK

                                     By:
                                         ---------------------------------------
                                     Name:
                                     Title:

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