Document:

STOCK ESCROW AGREEMENT

          STOCK ESCROW AGREEMENT, dated as of _________, 2005 ("Agreement"), by
and among COURTSIDE ACQUISITION CORP., a Delaware corporation ("Company"),
RICHARD D. GOLDSTEIN, BRUCE M. GREENWALD, HMA 1999 TRUST, DKA 1999 TRUST, ASH
1999 TRUST, JAR PARTNERS L.P., GREGG H. MAYER, DENNIS H. LEIBOWITZ, CARL D.
HARNICK, PETER R. HAJE, BMG 2004 TRUST and DARREN M. SARDOFF (collectively
"Initial Stockholders") and CONTINENTAL STOCK TRANSFER & TRUST COMPANY, a New
York corporation ("Escrow Agent").

          WHEREAS, the Company has entered into an Underwriting Agreement, dated
_____________, 2005 ("Underwriting Agreement"), with EarlyBirdCapital, Inc.
("EBC") acting as representative of the several underwriters (collectively, the
"Underwriters"), pursuant to which, among other matters, the Underwriters have
agreed to purchase 12,000,000 units ("Units") of the Company. Each Unit consists
of one share of the Company's common stock, par value $.0001 per share ("Common
Stock"), and two Warrants, each Warrant to purchase one share of Common Stock,
all as more fully described in the Company's final Prospectus, dated
_____________, 2005 ("Prospectus") comprising part of the Company's Registration
Statement on Form S-1 (File No. 333-124380) under the Securities Act of 1933,
as amended ("Registration Statement"), declared effective on _____________, 2005
("Effective Date").

          WHEREAS, the Initial Stockholders have agreed as a condition of the
sale of the Units to deposit their shares of Common Stock of the Company, as set
forth opposite their respective names in Exhibit A attached hereto (collectively
"Escrow Shares"), in escrow as hereinafter provided.

          WHEREAS, the Company and the Initial Stockholders desire that the
Escrow Agent accept the Escrow Shares, in escrow, to be held and disbursed as
hereinafter provided.

          IT IS AGREED:

     1. Appointment of Escrow Agent. The Company and the Initial Stockholders
hereby appoint the Escrow Agent to act in accordance with and subject to the
terms of this Agreement and the Escrow Agent hereby accepts such appointment and
agrees to act in accordance with and subject to such terms.

     2. Deposit of Escrow Shares. On or before the Effective Date, each of the
Initial Stockholders shall deliver to the Escrow Agent certificates representing
his respective Escrow Shares (and stock powers with respect to the certificates
in the names of Gregg H. Mayer and Darren M. Sardoff pursuant to Section 4.3
below), to be held and disbursed subject to the terms and conditions of this
Agreement. Each Initial Stockholder acknowledges that the certificate
representing his Escrow Shares is legended to reflect the deposit of such Escrow
Shares under this Agreement.

     3. Disbursement of the Escrow Shares. The Escrow Agent shall hold the
Escrow Shares until the third anniversary of the Effective Date ("Escrow
Period"), on which date it shall, upon written instructions from each Initial
Stockholder, disburse each of the Initial Stockholder's Escrow Shares (and any
applicable stock power) to such Initial Stockholder; provided, however, that if
the Escrow Agent is notified by the Company pursuant to Section 6.7 hereof that
the Company is being liquidated at any time during the Escrow Period, then the
Escrow Agent shall

promptly destroy the certificates representing the Escrow Shares; provided
further, however, that if, after the Company consummates a Business Combination
(as such term is defined in the Registration Statement), it (or the surviving
entity) subsequently consummates a liquidation, merger, stock exchange or other
similar transaction which results in all of the stockholders of such entity
having the right to exchange their shares of Common Stock for cash, securities
or other property, then the Escrow Agent will, upon receipt of a certificate,
executed by the Chief Executive Officer or Chief Financial Officer of the
Company, in form reasonably acceptable to the Escrow Agent, that such
transaction is then being consummated, release the Escrow Shares to the Initial
Stockholders upon consummation of the transaction so that they can similarly
participate. The Escrow Agent shall have no further duties hereunder after the
disbursement or destruction of the Escrow Shares in accordance with this Section
3.

     4. Rights of Initial Stockholders in Escrow Shares.

          4.1 Voting Rights as a Stockholder. Subject to the terms of the
Insider Letter described in Section 4.4 hereof and except as herein provided,
the Initial Stockholders shall retain all of their rights as stockholders of the
Company during the Escrow Period, including, without limitation, the right to
vote such shares.

          4.2 Dividends and Other Distributions in Respect of the Escrow Shares.
During the Escrow Period, all dividends payable in cash with respect to the
Escrow Shares shall be paid to the Initial Stockholders, but all dividends
payable in stock or other non-cash property ("Non-Cash Dividends") shall be
delivered to the Escrow Agent to hold in accordance with the terms hereof. As
used herein, the term "Escrow Shares" shall be deemed to include the Non-Cash
Dividends distributed thereon, if any.

          4.3 Restrictions on Transfer. During the Escrow Period, no sale,
transfer or other disposition may be made of any or all of the Escrow Shares
except (i) by gift to a member of Initial Stockholder's immediate family or to a
trust, the beneficiary of which is an Initial Stockholder or a member of an
Initial Stockholder's immediate family, (ii) by virtue of the laws of descent
and distribution upon death of any Initial Stockholder, or (iii) pursuant to a
qualified domestic relations order; provided, however, that such permissive
transfers may be implemented only upon the respective transferee's written
agreement to be bound by the terms and conditions of this Agreement and of the
Insider Letter signed by the Initial Stockholder transferring the Escrow Shares.
Notwithstanding the foregoing, with respect to the Escrow Shares issued in the
name of Gregg Mayer, any such Escrow Shares that do not vest in Mr. Mayer
pursuant to that certain Restricted Stock Agreement entered into between Gregg
Mayer, on the one hand, and Richard D. Goldstein, on the other hand, shall
revert back to Mr. Goldstein (and be transferred using the stock powers
previously delivered to the Escrow Agent) and continue to be held in Escrow for
the remainder of the Escrow Period; and provided further that with respect to
the Escrow Shares issued in the name of Darren M. Sardoff, any such Escrow
Shares that do not vest in Mr. Sardoff pursuant to those certain Restricted
Stock Agreements entered into between (i) Darren M. Sardoff, on the one hand,
and Richard D. Goldstein, on the other hand, and (ii) Darren M. Sardoff, on the
one hand, and Bruce M. Greenwald, on the other hand, shall revert back to Mr.
Goldstein and Mr. Greenwald, as the case may be, (and be transferred using the
stock powers previously delivered to the Escrow Agent) and continue to be held
in Escrow for the remainder of the Escrow Period. During the Escrow Period, the
Initial Stockholders shall not pledge or grant a security interest in the Escrow
Shares or grant a security interest in their rights under this Agreement.

          4.4 Insider Letters. Each of the Initial Stockholders has executed a
letter agreement with EBC and the Company, dated as indicated on Exhibit A
hereto, and which is filed as an exhibit to the Registration Statement ("Insider
Letter"), respecting the rights and obligations

                                       2

of such Initial Stockholder in certain events, including but not limited to the
liquidation of the Company.

     5. Concerning the Escrow Agent.

          5.1 Good Faith Reliance. The Escrow Agent shall not be liable for any
action taken or omitted by it in good faith and in the exercise of its own best
judgment, and may rely conclusively and shall be protected in acting upon any
order, notice, demand, certificate, opinion or advice of counsel (including
counsel chosen by the Escrow Agent), statement, instrument, report or other
paper or document (not only as to its due execution and the validity and
effectiveness of its provisions, but also as to the truth and acceptability of
any information therein contained) which is believed by the Escrow Agent to be
genuine and to be signed or presented by the proper person or persons. The
Escrow Agent shall not be bound by any notice or demand, or any waiver,
modification, termination or rescission of this Agreement unless evidenced by a
writing delivered to the Escrow Agent signed by the proper party or parties and,
if the duties or rights of the Escrow Agent are affected, unless it shall have
given its prior written consent thereto.

          5.2 Indemnification. The Escrow Agent shall be indemnified and held
harmless by the Company from and against any expenses, including counsel fees
and disbursements, or loss suffered by the Escrow Agent in connection with any
action, suit or other proceeding involving any claim which in any way, directly
or indirectly, arises out of or relates to this Agreement, the services of the
Escrow Agent hereunder, or the Escrow Shares held by it hereunder, other than
expenses or losses arising from the gross negligence or willful misconduct of
the Escrow Agent. Promptly after the receipt by the Escrow Agent of notice of
any demand or claim or the commencement of any action, suit or proceeding, the
Escrow Agent shall notify the other parties hereto in writing. In the event of
the receipt of such notice, the Escrow Agent, in its sole discretion, may
commence an action in the nature of interpleader in an appropriate court to
determine ownership or disposition of the Escrow Shares or it may deposit the
Escrow Shares with the clerk of any appropriate court or it may retain the
Escrow Shares pending receipt of a final, non-appealable order of a court having
jurisdiction over all of the parties hereto directing to whom and under what
circumstances the Escrow Shares are to be disbursed and delivered. The
provisions of this Section 5.2 shall survive in the event the Escrow Agent
resigns or is discharged pursuant to Sections 5.5 or 5.6 below.

          5.3 Compensation. The Escrow Agent shall be entitled to reasonable
compensation from the Company for all services rendered by it hereunder. The
Escrow Agent shall also be entitled to reimbursement from the Company for all
expenses paid or incurred by it in the administration of its duties hereunder
including, but not limited to, all counsel, advisors' and agents' fees and
disbursements and all taxes or other governmental charges.

          5.4 Further Assurances. From time to time on and after the date
hereof, the Company and the Initial Stockholders shall deliver or cause to be
delivered to the Escrow Agent such further documents and instruments and shall
do or cause to be done such further acts as the Escrow Agent shall reasonably
request to carry out more effectively the provisions and purposes of this
Agreement, to evidence compliance herewith or to assure itself that it is
protected in acting hereunder.

          5.5 Resignation. The Escrow Agent may resign at any time and be
discharged from its duties as escrow agent hereunder by its giving the other
parties hereto written notice and such resignation shall become effective as
hereinafter provided. Such resignation shall become

                                        3

effective at such time that the Escrow Agent shall turn over to a successor
escrow agent appointed by the Company, the Escrow Shares held hereunder. If no
new escrow agent is so appointed within the 60 day period following the giving
of such notice of resignation, the Escrow Agent may deposit the Escrow Shares
with any court it reasonably deems appropriate.

          5.6 Discharge of Escrow Agent. The Escrow Agent shall resign and be
discharged from its duties as escrow agent hereunder if so requested in writing
at any time by the other parties hereto, jointly, provided, however, that such
resignation shall become effective only upon acceptance of appointment by a
successor escrow agent as provided in Section 5.5.

          5.7 Liability. Notwithstanding anything herein to the contrary, the
Escrow Agent shall not be relieved from liability hereunder for its own gross
negligence or its own willful misconduct.

     6. Miscellaneous.

          6.1 Governing Law. This Agreement shall for all purposes be deemed to
be made under and shall be construed in accordance with the laws of the State of
New York, without giving effect to conflicts of law principles that would result
in the application of the substantive laws of another jurisdiction.

          6.2 Third Party Beneficiaries. Each of the Initial Stockholders hereby
acknowledges that the Underwriters are third party beneficiaries of this
Agreement and this Agreement may not be modified or changed without the prior
written consent of EBC.

          6.3 Entire Agreement. This Agreement contains the entire agreement of
the parties hereto with respect to the subject matter hereof and, except as
expressly provided herein, may not be changed or modified except by an
instrument in writing signed by the party to the charged.

          6.4 Headings. The headings contained in this Agreement are for
reference purposes only and shall not affect in any way the meaning or
interpretation thereof.

          6.5 Binding Effect. This Agreement shall be binding upon and inure to
the benefit of the respective parties hereto and their legal representatives,
successors and assigns.

          6.6 Notices. Any notice or other communication required or which may
be given hereunder shall be in writing and either be delivered personally or be
mailed, certified or registered mail, or by private national courier service,
return receipt requested, postage prepaid, and shall be deemed given when so
delivered personally or, if mailed, two days after the date of mailing, as
follows:

          If to the Company, to:

               Courtside Acquisition Corp.
               1700 Broadway, 17th Floor
               New York, New York 10019
               Attn: Chairman

          If to a Stockholder, to his address set forth in Exhibit A.

                                       4

          and if to the Escrow Agent, to:

               Continental Stock Transfer & Trust Company
               17 Battery Place
               New York, New York 10004
               Attn: Chairman

          A copy of any notice sent hereunder shall be sent to:

               Kramer Levin Naftalis & Frankel LLP
               1177 Avenue of the Americas
               New York, New York 10036
               Attn: Richard Gilden, Esq.

          and:

               EarlyBirdCapital, Inc.
               275 Madison Avenue, Suite 1203
               New York, New York 10016
               Attn: David M. Nussbaum, Chairman

          and:

               Graubard Miller
               The Chrysler Building
               405 Lexington Avenue
               New York, New York 10174
               Attn: David Alan Miller, Esq.

          The parties may change the persons and addresses to which the notices
or other communications are to be sent by giving written notice to any such
change in the manner provided herein for giving notice.

          6.7 Liquidation of the Company. The Company shall give the Escrow
Agent written notification of the liquidation and dissolution of the Company in
the event that the Company fails to consummate a Business Combination within the
time period(s) specified in the Prospectus.

                                        5

          WITNESS the execution of this Agreement as of the date first above
written.

                                            COURTSIDE ACQUISITION CORP.

                                        By:
                                            ------------------------------------
                                            Richard D. Goldstein
                                            Chairman and Chief Executive Officer

                                            INITIAL STOCKHOLDERS:

                                            ------------------------------------
                                            Richard D. Goldstein

                                            ------------------------------------
                                            Bruce M. Greenwald

                                            HMA 1999 TRUST

                                        By:
                                            ------------------------------------
                                            Name: Oded Aboodi
                                            Title: Trustee

                                            DKA 1999 TRUST

                                        By:
                                            ------------------------------------
                                            Name: Oded Aboodi
                                            Title: Trustee

                                            ASH 1999 TRUST

                                        By:
                                            ------------------------------------
                                            Name: Oded Aboodi
                                            Title: Trustee

                                            JAR PARTNERS L.P.

                                        6

                                        By:
                                            ------------------------------------
                                            Name: Richard D. Goldstein
                                            Title: Trustee

                                            ------------------------------------
                                            Gregg H. Mayer

                                            ------------------------------------
                                            Dennis H. Leibowitz

                                            ------------------------------------
                                            Carl D. Harnick

                                            ------------------------------------
                                            Peter R. Haje

                                            BMG 2004 TRUST

                                        By:
                                            ------------------------------------
                                            Name: Richard D. Goldstein
                                            Title: Trustee

                                            ------------------------------------
                                            Darren M. Sardoff

                                            CONTINENTAL STOCK TRANSFER
                                              & TRUST COMPANY

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

                                        7

                                    EXHIBIT A
<TABLE>

Name and Address of                              Number           Stock              Date of
Initial Stockholder                            of Shares    Certificate Number    Insider Letter
-------------------                            ---------    ------------------    --------------

HMA 1999 Trust                                  220,000             3             April 22, 2005
c/o Oded Aboodi
Courtside Acquisition Corp.
1700 Broadway, 17th Floor
New York, New York 10019

DKA 1999 Trust                                  220,000             4             April 22, 2005
c/o Oded Aboodi
Courtside Acquisition Corp.
1700 Broadway, 17th Floor
New York, New York 10019

ASH 1999 Trust                                  220,000             5             April 22, 2005
c/o Oded Aboodi
Courtside Acquisition Corp.
1700 Broadway, 17th Floor
New York, New York 10019

JAR Partners L.P.                               210,000             6             April 22, 2005
c/o Richard D. Goldstein
Courtside Acquisition Corp.
1700 Broadway, 17th Floor
New York, New York 10019

Dennis H. Leibowitz                             150,000             7             April 22, 2005
Act II Partners, L.P.
444 Madison Avenue, 17th Floor
New York, New York 10022

BMG 2004 Trust                                   84,000             8             April 22, 2005
c/o Richard D. Goldstein
Courtside Acquisition Corp.
1700 Broadway, 17th Floor
New York, New York 10019

Carl D. Harnick                                  75,000             9             April 22, 2005
Courtside Acquisition Corp.
1700 Broadway, 17th Floor
New York, New York 10019

Peter R. Haje                                    75,000             10            April 22, 2005
1790 Broadway, Suite 1501
New York, New York 10019

Gregg H. Mayer                                  150,000             12            April 22, 2005
Courtside Acquisition Corp.
1700 Broadway, 17th Floor
New York, New York 10019

Richard D. Goldstein                            802,500             17            April 22, 2005
Courtside Acquisition Corp.
1700 Broadway, 17th Floor
New York, New York 10019

Darren M. Sardoff                                75,000         14, 16, 19        June 27, 2005
Act II Partners, L.P.
444 Madison Avenue, 17th Floor
New York, New York 10022

Bruce M. Greenwald                              718,500             18            April 22, 2005
Courtside Acquisition Corp.
1700 Broadway, 17th Floor
New York, New York 10019
</TABLE><PAGE>
                                                                  EXHIBIT 4.3(b)

               FOURTH AMENDMENT AND CONSENT TO FINANCING AGREEMENT

         FOURTH AMENDMENT AND CONSENT TO FINANCING AGREEMENT, dated as of June
22, 2005 (this "Amendment"), to the Amended and Restated Financing Agreement,
dated as of September 4, 2003, as amended by the First Amendment to Financing
Agreement, dated as of November 23, 2004, the Second Amendment to Financing
Agreement, dated as of April 13, 2005, and the Third Amendment and Consent to
Financing Agreement, dated as of May 30, 2005 (such agreement as amended, and as
further amended, restated or otherwise modified from time to time, being
hereinafter referred to as the "Financing Agreement"), by and among Allied
Holdings, Inc., a Georgia corporation (the "Parent"), Allied Systems, Ltd.
(L.P.), a Georgia limited partnership ("Allied Systems" and together with the
Parent, each a "Borrower" and collectively, the "Borrowers"), each subsidiary of
the Parent listed as a "Guarantor" on the signature pages thereto, the lenders
from time to time party thereto (each a "Lender" and collectively, the
"Lenders"), Ableco Finance LLC, a Delaware limited liability company, as
collateral agent for the Lenders (in such capacity, the "Collateral Agent") and
Wells Fargo Foothill, Inc., a California corporation, formerly known as Foothill
Capital Corporation, as administrative agent for the Lenders (in such capacity,
the "Administrative Agent" and, together with the Collateral Agent, each an
"Agent" and collectively, the "Agents").

                              W I T N E S S E T H:

         WHEREAS, the Borrowers have requested that the Required Lenders (i)
amend the Financing Agreement to modify the multiplier contained in Section
2.04(b)(iv) of the Financing Agreement for the period beginning on the date
hereof and ending on June 27, 2005, and (ii) consent to, and waive any Event of
Default that would otherwise arise under the Financing Agreement as a result of
any noncompliance by the Loan Parties with Section 3(b)(iii) of the Third
Amendment and Consent to Financing Agreement, dated as of May 30, 2005 (the
"Third Amendment"), by and among the Loan Parties, the Lenders and the Agents,
arising from the aggregate outstanding principal amount of the Revolving Loans
exceeding $19,623,000 by an aggregate principal amount of not greater than
$50,000 as of the close of business on June 17, 2005.

         NOW, THEREFORE, in consideration of the premises and of the mutual
covenants, agreements and conditions hereinafter set forth, and for other good
and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto hereby agree as follows:

         1. Definitions. All terms used herein that are defined in the Financing
Agreement and not otherwise defined herein are used herein as defined therein.

         2. Amendment to Financing Agreement. Section 2.01(b)(iv) of the
Financing Agreement is hereby amended and restated in its entirety to read as
follows:

<PAGE>

         "The aggregate principal amount of the Loans and Letter of
         Credit Obligations shall not at any time exceed (A) an amount
         equal to (x) three and one quarter (3.25) multiplied by (y)
         the Consolidated EBITDA of the Parent and its Subsidiaries
         for the most recently completed twelve months after giving
         effect, if any, to the pro forma adjustments set forth in
         Schedule 2.01(b)(iv) or (B) the maximum principal amount of
         Indebtedness which is permitted to be incurred by the Parent
         and its Subsidiaries under clause (i) of the second paragraph
         of Section 4.09 of the Indenture less all outstanding Capital
         Lease Obligations (as defined in the Indenture) incurred
         under such clause (i), provided, however, that solely for the
         period commencing on May 1, 2005 and ending on June 27, 2005,
         the aggregate principal amount of the Loans and Letter of
         Credit Obligations shall not at the end of any Business Day
         exceed (A) an amount equal to (x) four (4.00) multiplied by
         (y) the Consolidated EBITDA of the Parent and its
         Subsidiaries for the most recently completed twelve months
         after giving effect, if any, to the pro forma adjustments set
         forth in Schedule 2.01(b)(iv) or (B) the maximum principal
         amount of Indebtedness which is permitted to be incurred by
         the Parent and its Subsidiaries under clause (i) of the
         second paragraph of Section 4.09 of the Indenture less all
         outstanding Capital Lease Obligations (as defined in the
         Indenture) incurred under such clause (i)."

         3. Waiver and Consent.

         (a) Pursuant to the request of the Parent and in accordance with
Section 12.02 of the Financing Agreement, and in reliance upon the
representations, warranties and covenants contained in the Loan Documents, the
Required Lenders hereby consent to and waive any Event of Default that would
otherwise arise under the Financing Agreement as a result of any noncompliance
by the Loan Parties with Section 3(b)(iii) of the Third Amendment arising from
the aggregate outstanding principal amount of the Revolving Loans exceeding
$19,623,000 by an aggregate principal amount of not greater than $50,000 as of
the close of business on June 17, 2005.

         (b) The waiver and consent in this Section 3 shall be effective only in
this specific instance and for the specific purposes set forth herein and does
not allow for any other or further departure from the terms and conditions of
the Financing Agreement or any other Loan Document, which terms and conditions
shall remain in full force and effect.

         4. Other Agreements. Without any prejudice or impairment whatsoever to
any of the rights and remedies of the Agents or the Lenders contained in the
Financing Agreement or in any other Loan Documents, the Loan Parties covenant
and agree with the Agents and the Lenders (the occurrence of, the failure to
comply with, or the inaccuracy thereof (as applicable), shall constitute an
immediate Event of Default) that:

<PAGE>

         (a) As of the close of business on June 21, 2005, the outstanding
aggregate principal amount of the Loans is equal to $130,671,335.30 of which
$17,033,019.05 constitutes Revolving Loans, $68,638,316.23 constitutes the Term
Loans, $20,000,000 constitutes the Supplemental Term Loans and $25,000,000
constitutes the Additional Supplemental Term Loans, and the outstanding,
aggregate amount of Letter of Credit Obligations is equal to $43,695,036.45;

         (b) (i) for the period commencing on the date of this Amendment through
and including June 27, 2005, (i) the aggregate outstanding principal amount of
Revolving Loans as of the end of each Business Day shall not exceed $19,623,000,
and (ii) the Agents and the Lenders shall have no obligation to make any
additional Loans in excess of such amount, and the making of any additional
Loans or other extensions of credit to any Loan Party in excess of such amount,
if any, shall be at the sole and absolute discretion of each of the Agents and
the Lenders;

         (c) commencing on the date hereof and continuing until June 27, 2005,
the Letter of Credit Obligations shall not exceed $43,695,036.45 and the Agents
and the Lenders shall have no obligation to issue or otherwise establish (or
assist in establishing) any additional Letters of Credit (including any
renewals, increases in or other extensions of any existing Letters of Credit);

         (d) for the period commencing on the date of this Amendment until the
earlier of June 27, 2005 and the occurrence of any Event of Default, all of the
Obligations shall accrue at a rate of interest per annum equal to the rate of
interest otherwise in effect from time to time pursuant to the terms of the
Financing Agreement plus 3.0%, or, if a rate of interest is not otherwise in
effect, interest at the highest rate specified therein for any Loan then
outstanding prior to an Event of Default plus 3.0%;

         (e) each of the following events shall constitute an additional Event
of Default under the Financing Agreement: (i) since December 31, 2004, the
occurrence of any of the following (to the extent not otherwise disclosed by the
Parent to the Agents in writing prior to May 30, 2005): any material adverse
effect on any of (A) the operations, business, assets, properties, prospects or
condition (financial or otherwise) of any Borrower or of the Loan Parties taken
as a whole, as determined by any Agent in its sole discretion or (B) the
industries, businesses or markets within which Parent or any of its Subsidiaries
or its customers operate or otherwise conduct business, in each case, as
determined by any Agent in its sole discretion, (ii) since December 31, 2004,
the occurrence of any of the following (to the extent not otherwise disclosed by
the Parent to the Agents in writing prior to May 30, 2005): any material
disruption or general adverse developments in the financial, banking or capital
markets, as determined by any Agent in its sole discretion, and (iii) any Loan
Party or any Affiliate thereof or any Person or entity claiming by or through
such Loan Party or other Person joins in, assists, cooperates or participates as
an adverse witness (except under subpoena) in any suit or other judicial
proceeding against any Agent or Lender or any of their Affiliates relating to
the Obligations or any amounts owing in connection with or related to any of the
transactions contemplated by the Financing Agreement, this Amendment or the
other Loan Documents or any document, agreement, or instrument executed in
connection with any of the foregoing;

<PAGE>

         (f) commencing on the date of this Amendment and through and including
June 27, 2005, the Parent will, on each Business Day at the earlier of (x) 12:00
noon (New York City time) and (y) the delivery of a Notice of Borrowing, deliver
to the Agents, a certificate from the Chief Executive Officer, the Chief
Financial Officer, the Treasurer, or any Vice President of the Parent,
certifying as to the aggregate outstanding principal amount of the Revolving
Loans and the Letter of Credit Obligations and the Term Loan, the Supplemental
Term Loan and the Additional Supplemental Term Loan, as of the end of business
on the immediately preceding Business Day, and containing such detail and other
information as any Agent may request from time to time;

         (g) the Loan Parties shall comply with all of the terms, covenants and
provisions contained in the Financing Agreement and the other Loan Documents
(subject to any applicable grace periods set forth in the Financing Agreement),
as such terms, covenants and provisions are expressly modified by this Amendment
upon the terms set forth herein; and

         (h) the Loan Parties shall at any time and from time to time execute
and deliver such further instruments and take such further action as any Agent
may reasonably request to effect the purposes of this Amendment, the Financing
Agreement and the other Loan Documents.

         5. Representations and Warranties. Each Loan Party represents and
warrants to the Agents, the Lenders and the L/C Issuer as follows:

         (a) Each Loan Party (i) is a corporation, limited liability company or
limited partnership duly organized, validly existing and in good standing under
the laws of the state, province or other applicable jurisdiction of its
organization, (ii) has all requisite power and authority to conduct its business
as now conducted and as presently contemplated, to execute and deliver this
Amendment and each Loan Document to which it is a party, and to consummate the
transactions contemplated thereby and, in the case of the Borrowers, to make the
borrowings under the Financing Agreement, and (iii) is duly qualified to do
business and is in good standing in each jurisdiction in which the character of
the properties owned or leased by it or in which the transaction of its business
makes such qualification necessary and where the failure to be so qualified
would reasonably be expected to have a Material Adverse Effect.

         (b) The execution, delivery and performance by each Loan Party of this
Amendment and the performance by each Loan Party of the Financing Agreement, as
amended hereby, (i) have been duly authorized by all necessary action, (ii) do
not and will not contravene its charter or by-laws, its limited liability
company or operating agreement or its certificate of partnership or partnership
agreement, as applicable, or any applicable law or any contractual restriction
binding on or otherwise affecting it or any of its properties, (iii) do not and
will not result in or require the creation of any Lien (other than pursuant to
any Loan Document) upon or with respect to any of its properties, and (iv) do
not and will not result in any default, noncompliance, suspension, revocation,
impairment, forfeiture or nonrenewal of any permit, license, authorization or
approval applicable to its operations or any of its properties, which, in the
case of this clause (iv), is reasonably expected to have a Material Adverse
Effect.

<PAGE>

         (c) No authorization or approval or other action by, and no notice to
or filing with, any Governmental Authority is required as a condition to the (i)
due execution, delivery and performance by any Loan Party of this Amendment or
(ii) performance by each Loan Party of the Financing Agreement, as amended
hereby.

         (d) Each of this Amendment and the Financing Agreement, as amended
hereby, and the other Loan Document to which any Loan Party is or will be a
party, when delivered hereunder, will be, a legal, valid and binding obligation
of such Person, enforceable against such Person in accordance with its terms,
except as may be limited by applicable bankruptcy, insolvency, reorganization,
moratorium or other similar laws and principles of equity.

         (f) The representations and warranties contained herein, in Article VI
of the Financing Agreement and in each other Loan Document are true and correct
on and as of the date hereof as though made on and as of such date, except to
the extent that any such representation or warranty expressly relates solely to
an earlier date (in which case such representation or warranty shall be true and
correct on and as of such earlier date); and no Default or Event of Default
shall have occurred and be continuing on the Fourth Amendment Effective Date
after giving effect to this Amendment in accordance with its terms.

         6. Effective Date. This Amendment shall be effective at the last to
occur of the following (the first date upon which all such conditions have been
satisfied being herein called the "Fourth Amendment Effective Date"):

         (a) the date on which counterparts to this Amendment, signed by each of
the Loan Parties and the Required Lenders, have been executed and delivered to
the Collateral Agent;

         (b) the date on which the Collateral Agent shall have received a
certificate of the chief executive officer or the chief financial officer of the
Parent, certifying as to the matters set forth in Section 6(c) hereof;

         (c) each of the following shall be true: (i) the representations and
warranties of each Loan Party contained herein and in the other Loan Documents
shall be true and correct on and as of the Fourth Amendment Effective Date,
except to the extent such representations and warranties specifically relate to
an earlier date, in which case such representations and warranties shall have
been true and correct on and as of such earlier date, (ii) no Default or Event
of Default shall have occurred after giving effect to this Amendment, and (iii)
since December 31, 2004, except as otherwise disclosed in writing by the Parent
to the Collateral Agent on or prior to the Fourth Amendment Effective Date, (A)
no Material Adverse Effect shall have occurred and (B) there shall not have
occurred any event that may reasonably be expected to result in any event
described in paragraph 3(e) of this Amendment; and

         (d) the date the Loan Parties shall have paid all fees and expenses of
the Agents related to this Amendment and the administration of the Financing
Agreement and the other Loan Documents, which have been invoiced to the Parent
as of the date hereof.
<PAGE>

         7. Ratification and Confirmation.

         (a) Except as otherwise expressly provided herein, (i) the Financing
Agreement and the other Loan Documents are, and shall continue to be, in full
force and effect and are hereby ratified and confirmed in all respects, except
that on and after the Fourth Amendment Effective Date (A) all references in the
Financing Agreement to "this Agreement", "hereto", "hereof", "hereunder" or
words of like import referring to the Financing Agreement shall mean the
Financing Agreement as amended by this Amendment and (B) all references in the
other Loan Documents to the "Financing Agreement", "thereto", "thereof",
"thereunder" or words of like import referring to the Financing Agreement shall
mean the Financing Agreement as amended by this Amendment, (ii) to the extent
that the Financing Agreement or any other Loan Document purports to pledge to
the Collateral Agent, or to grant to the Collateral Agent, a security interest
in or lien on any collateral as security for the Obligations or Guaranteed
Obligations, such pledge or grant of a security interest or lien is hereby
ratified and confirmed in all respects, and (iii) except as expressly agreed to
in this Amendment, the execution, delivery and effectiveness of this Amendment
shall not operate as an amendment of any right, power or remedy of the Agents or
the Lenders under the Financing Agreement or any other Loan Document, nor
constitute an amendment of any provision of the Financing Agreement or any other
Loan Document.

         (b) Except as expressly set forth herein, this Amendment is not a
waiver of, or consent to, any Default or Event of Default now existing or
hereafter arising under the Financing Agreement or any other Loan Document and
the Agents and the Lenders expressly reserve all of their rights and remedies
under the Financing Agreement and the other Loan Documents, under applicable law
or otherwise.

         8. Release. Each Loan Party hereby acknowledges and agrees that: (a)
neither it nor any of its Affiliates has any claim or cause of action against
any Agent, any Lender or the L/C Issuer (or any of their respective Affiliates,
officers, directors, employees, attorneys, consultants or agents) and (b) each
Agent, each Lender and the L/C Issuer has heretofore properly performed and
satisfied in a timely manner all of its obligations to the Loan Parties and
their Affiliates under the Financing Agreement and the other Loan Documents.
Notwithstanding the foregoing, the Agents, the Lenders and the L/C Issuer wish
(and the Loan Parties agree) to eliminate any possibility that any past
conditions, acts, omissions, events or circumstances would impair or otherwise
adversely affect any of the Agents', the Lenders' and the L/C Issuer's rights,
interests, security and/or remedies under the Financing Agreement and the other
Loan Documents. Accordingly, for and in consideration of the agreements
contained in this Amendment and other good and valuable consideration, each Loan
Party (for itself and its Affiliates and the successors, assigns, heirs and
representatives of each of the foregoing) (collectively, the "Releasors") does
hereby fully, finally, unconditionally and irrevocably release and forever
discharge each Agent, each Lender and the L/C Issuer and each of their
respective Affiliates, officers, directors, employees, attorneys, consultants
and agents (collectively, the "Released Parties") from any and all debts,
claims, obligations, damages, costs, attorneys' fees, suits, demands,
liabilities, actions, proceedings and causes of action, in each case, whether
known or unknown, contingent or fixed, direct or indirect, and of whatever
nature or description, and whether in law or in equity, under contract, tort,
statute or otherwise, which any Releasor has heretofore had or now or hereafter
can, shall or may have against any Released Party by reason of any act, omission
or thing

<PAGE>

whatsoever done or omitted to be done on or prior to the Fourth Amendment
Effective Date arising out of, connected with or related in any way to this
Amendment, the Financing Agreement or any other Loan Document, or any act, event
or transaction related or attendant thereto, or the agreements of any Agent, any
Lender or the L/C Issuer contained therein, or the possession, use, operation or
control of any of the assets of any Loan Party, or the making of any Loans or
other advances, or the management of such Loans or advances or the Collateral.

         9. Indemnity and Expenses. Each Loan Party hereby agrees (a) to
indemnify and hold harmless the Agents, each Lender and their shareholders,
partners, members, officers and representatives (each an "Indemnified Person")
from and against any and all claims, damages, liabilities and expenses,
including, without limitation, attorneys' fees and disbursements, which may be
incurred by or asserted against any such Indemnified Person in any
investigation, litigation, suit or action arising out of or relating to (i) the
release pursuant hereto of any security interest, lien, encumbrance or other
charge granted to the Collateral Agent or (ii) the payment of any of the
Obligations or Guaranteed Obligations as provided herein; (b) to pay all costs
and expenses in connection with the preparation, execution, delivery, filing and
recording of this Agreement, and the performance of any other acts and the
execution of any other documents required to effect the release of any security
pursuant hereto, including, without limitation, the fees and disbursements of
counsel to the Agents; and (c) to pay any and all stamp and other transfer or
filing taxes and fees payable or determined to be payable in connection with the
execution and delivery hereof or any release document pursuant hereto, and to
hold each Indemnified Person harmless from and against any and all liabilities
with respect to or resulting from any delay in paying or omission to pay such
taxes or fees.

         10. Miscellaneous.

         (a) This Amendment may be executed in any number of counterparts and by
the different parties hereto in separate counterparts, each of which shall be
deemed to be an original, but all of which taken together shall constitute one
and the same agreement. Delivery of an executed counterpart of this Amendment by
facsimile or electronic mail shall be equally effective as delivery of an
original executed counterpart.

         (b) Section and paragraph headings herein are included for convenience
of reference only and shall not constitute a part of this Amendment for any
other purpose.

         (c) This Amendment shall be governed by and construed in accordance
with the law of the State of New York applicable to contracts made and to be
performed within such state.

         (d) The Loan Parties hereby acknowledge and agree that this Amendment
constitutes a "Loan Document" under the Financing Agreement. Accordingly, it
shall be an Event of Default under the Financing Agreement if (i) any
representation or warranty made by the Borrowers under or in connection with
this Amendment shall have been untrue, false or misleading in any material
respect when made, or (ii) the Loan Parties shall fail to perform or observe any
term, covenant or agreement contained in this Amendment.

                [remainder of this page intentionally left blank]

<PAGE>

         IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed by their respective officers thereunto duly authorized, as of the date
first above written.

                                        BORROWERS:
                                        ---------

                                        ALLIED HOLDINGS, INC.

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

                                        ALLIED SYSTEMS, LTD. (L.P.)

                                        By: Allied Automotive Group, Inc.

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

                                        GUARANTORS:

                                        ALLIED AUTOMOTIVE GROUP, INC.
                                        ALLIED FREIGHT BROKER, LLC
                                        ALLIED SYSTEMS (CANADA) COMPANY
                                        AXIS ARETA, LLC
                                        AXIS CANADA COMPANY
                                        AXIS GROUP, INC.
                                        AXIS NETHERLANDS, LLC
                                        COMMERCIAL CARRIERS, INC.
                                        CORDIN TRANSPORT, LLC
                                        CT SERVICES, INC.
                                        F.J. BOUTELL DRIVEAWAY LLC
                                        GACS INCORPORATED
                                        KAR-TAINER INTERNATIONAL, LLC
                                        QAT, INC.
                                        RMX LLC
                                        TERMINAL SERVICE LLC
                                        TRANSPORT SUPPORT, LLC

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

<PAGE>
                                        COLLATERAL AGENT AND LENDER:

                                        ABLECO FINANCE LLC

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

<PAGE>

                                        ADMINISTRATIVE AGENT AND LENDER:

                                        WELLS FARGO FOOTHILL, INC., formerly
                                        known as Foothill Capital Corporation

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

<PAGE>

                                  LENDERS:
                                  -------

                                  A3 FUNDING LP

                                  By: A3 Fund Management LLC,
                                      its General Partner

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

                                  STYX INTERNATIONAL, LTD.

                                  By: Partridge Hill Overseas Management, LLC,
                                      as Investment Manager

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

                                  THE LONG HORIZONS OVERSEAS FUND, LTD.

                                  By: Old Stand Management, L.L.C.,
                                      as Investment Manager

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

<PAGE>

                                        A4 FUNDING LP

                                        By: A4 Fund Management Inc.,
                                            its General Partner

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

<PAGE>

                                        ADAMS STREET CBO 1998-1, LTD.

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

                                        1888 FUND, LTD.

                                        By: Guggenheim Investment Management,
                                             LLC as Collateral Manager

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

                                        FORTWIRTH CDO LTD.

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

                                        MAGMA CDO LTD.

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

<PAGE>

                                        STELLAR FUNDING, LTD.

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

                                        UPPER COLUMBIA CAPITAL COMPANY, LLC

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

<PAGE>

                                        FORTRESS CREDIT
                                        OPPORTUNITIES I LP

                                        By: Fortress Credit Opportunities I GP
                                            LLC, its general partner

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

                                        DB SPECIAL OPPORTUNITIES LLC

                                        By: Drawbridge Special Opportunities
                                            Advisors LLC, its Authorized
                                            Signatory

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

                                        FORTRESS CREDIT
                                        OPPORTUNITIES II LP

                                        By: Fortress Credit Opportunities
                                            II GP LLC, its general partner

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

<PAGE>

                                        CONGRESS FINANCIAL CORPORATION
                                        (CENTRAL)

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

<PAGE>

                                 STANDARD FEDERAL BANK NATIONAL ASSOCIATION

                                 By:  LaSalle Business Credit, LLC, a Delaware
                                      Limited liability company, successor
                                      by merger to LaSalle Business
                                      Credit, Inc., a Delaware
                                      corporation, as Agent

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

<PAGE>

                                        TEXTRON FINANCIAL CORPORATION

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

<PAGE>

                                     HCM/Z SPECIAL OPPORTUNITIES LLC, formerly
                                     known as HZ Special Opportunities LLC

                                     By:  Highbridge Capital Management, LLC

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

<PAGE>

                                        BERNARD GLOBAL LOAN INVESTORS, LTD.,
                                        formerly known as Bernard Leveraged Loan
                                        Investors, Ltd.

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

                                        BERNARD NATIONAL LOAN INVESTORS, LTD.

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

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