Document:

EXHIBIT 10.1

 Exhibit 10.1 
 EXECUTION COPY 
 AMENDMENT NO. 3 

TO 

AMENDED AND RESTATED SALE AND SERVICING AGREEMENT 
 THIS AMENDMENT NO. 3 TO AMENDED AND RESTATED SALE AND SERVICING AGREEMENT, dated as of May 5, 2011 (this “Amendment”), is entered into by and among MCG Commercial Loan Funding Trust,
as the seller (in such capacity, the “Seller”), MCG Capital Corporation, as the originator (in such capacity, the “Originator”) and as the servicer (in such capacity, the “Servicer”), Three Pillars
Funding LLC, as a purchaser (“Three Pillars”), SunTrust Robinson Humphrey, Inc., as the administrative agent (in such capacity, the “Administrative Agent”), and Wells Fargo Bank, National Association, as the backup
servicer (in such capacity, the “Backup Servicer”) and as trustee (in such capacity, the “Trustee”). 
 RECITALS 
 WHEREAS, the Seller, the Originator, the Servicer, Three Pillars, the
Administrative Agent, the Backup Servicer and the Trustee are parties to the Amended and Restated Sale and Servicing Agreement dated as of February 26, 2009, as amended by an Amendment No. 1 dated as of February 17, 2010 and by an
Amendment No. 2 dated as of January 25, 2011 (as so amended, the “Agreement”); and 
 WHEREAS, such
parties hereto desire to amend the Agreement as hereinafter set forth. 
 NOW THEREFORE, for good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: 
 1. Certain Defined Terms.
Each capitalized term that is used herein without definition and that is defined or incorporated by reference in the Agreement shall have the same meaning herein as therein defined or incorporated. 

2. Amendment to the Agreement. The Agreement is hereby amended as follows: 

2.1 Clause (f) of Section 6.15 of the Agreement is hereby amended to replace “$500,000,000”
therein with “$450,000,000”. 
 3. No Waiver. The execution, delivery and effectiveness of this Amendment shall
not operate as a waiver of any right, power or remedy of any party under the Agreement or any other document, instrument or agreement executed in connection therewith, nor constitute a waiver of any provision contained therein. 

4. Conditions To Effectiveness. The effectiveness of the amendments in Section 2 hereof is subject to the condition
precedent that each of the parties hereto shall have received counterparts of this Amendment, duly executed by all of the parties hereto. 

 5. Reaffirmation of Covenants, Representations and Warranties. Upon the effectiveness
of this Amendment, each of the Seller, the Originator and the Servicer hereby reaffirms all covenants, representations and warranties made in the Agreement and the other Transaction Documents and agrees that all such covenants, representations and
warranties shall be deemed to have been remade as of the effective date of this Amendment. 
 6. Representations and
Warranties. Each of the Seller, the Originator and the Servicer hereby represents and warrants that (i) this Amendment constitutes a legal, valid and binding obligation of such Person, enforceable against it in accordance with its terms
except as such enforceability may be limited by Insolvency Laws and by general principles of equity (whether considered in a suit at law or in equity) and (ii) upon the effectiveness of this Amendment, no Unmatured Termination Event,
Termination Event or Servicer Default exists. 
 7. Ratification. The Agreement, as amended hereby, remains in full force
and effect. Any reference to the Agreement from and after the date hereof shall be deemed to refer to the Agreement as amended hereby. As amended, the Agreement is hereby ratified and reaffirmed by the parties hereto. 

8. Counterparts. This Amendment may be executed in any number of counterparts and by the different parties hereto on separate
counterparts (including by facsimile), each of which when so executed shall be deemed to be an original and all of which when taken together shall constitute one and the same agreement. 

9. Governing Law. THIS AMENDMENT, INCLUDING THE RIGHTS AND DUTIES OF THE PARTIES HERETO, SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
 10. Section Headings. The various headings of this Amendment are
included for convenience only and shall not affect the meaning or interpretation of this Amendment, the Agreement or any provision hereof or thereof. 
 [SIGNATURES COMMENCE ON THE FOLLOWING PAGE] 

  
 2 

 IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date first
written above. 
  

					
	 MCG COMMERCIAL LOAN FUNDING TRUST,
 as Seller

		
	By:	 	 Wilmington Trust Company, not in its individual
 capacity, but solely as Owner Trustee

		
	By:	 	         /s/ JEANNE M.
OLLER

		 	Name: Jeanne M. Oller
		 	Title: Assistant Vice President
	
	MCG CAPITAL CORPORATION,
	as Originator and as Servicer
		
	By:	 	         /s/ STEPHEN J.
BACICA

		 	Name: Stephen J. Bacica
		 	Title: Chief Financial Officer

 [SIGNATURES CONTINUE ON THE FOLLOWING PAGE] 

  

					
		 	S-3	 	Amendment to A&R SSA

 
					
	THREE PILLARS FUNDING LLC,
as a Purchaser
		
	By:	 	         /S/ DORIS J.
HEARN

		 	Name: Doris J. Hearn
		 	Title: Vice President
	
	SUNTRUST ROBINSON HUMPHREY, INC.,
as Administrative Agent
		
	By:	 	         /S/ EMILY
SHIELDS

		 	Name: Emily Shields
		 	Title: Vice President

 [SIGNATURES CONTINUE ON THE FOLLOWING PAGE] 

  

					
		 	S-4	 	Amendment to A&R SSA

 
			
	WELLS FARGO BANK, NATIONAL ASSOCIATION,
	as Backup Servicer
		
	By:	 	         /s/ CHAD
SCHAFER

		 	Name: Chad Schafer
		 	Title: Vice President
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION,
	as Trustee
		
	By:	 	         /s/ CHAD
SCHAFER

		 	Name: Chad Schafer
		 	Title: Vice President

  

					
		 	S-5	 	Amendment to A&R SSAEXHIBIT 10.2

 Exhibit 10.2 
 Execution Version 
 THIRD AMENDMENT AGREEMENT 

THIRD AMENDMENT AGREEMENT, dated as of July 28, 2011 (this “Agreement” or “Third Amendment”), is
entered into by and among MCG CAPITAL CORPORATION, a Delaware corporation (the “Company”), and the holders of the Notes party hereto relating to the Note Purchase Agreement, dated as of October 3, 2007, between the
Company and each of the purchasers listed therein pursuant to which the Company issued $25,000,000 aggregate principal amount of its 6.71% Series 2007-A Senior Notes due October 3, 2012 (the “Notes”), as amended from
time to time (as amended, the “Note Purchase Agreement”). Capitalized terms used herein and not otherwise defined herein shall have the respective meanings set forth in the Note Purchase Agreement. 

W I T N E S S E T H : 

WHEREAS, the Company has entered into the Note Purchase Agreement with the Purchasers, pursuant to which the Company issued and sold the
Notes; and 
 WHEREAS, the parties hereto mutually desire to amend the terms of the Note Purchase Agreement. 

NOW THEREFORE, in consideration of the premises and other good and valuable consideration, the parties hereto hereby agree as follows:

 1. Amendments to Note Purchase Agreement. The Company and the undersigned holders of the Notes hereby agree that as of
the Third Amendment Effective Date (as defined in Section 2 below), without any further action, the Note Purchase Agreement shall be amended as follows: 
 1.1 Section 10.1. Section 10.1 of the Note Purchase Agreement shall be amended by deleting it in its entirety and replacing it with the following: 

Section 10.1 Minimum Consolidated Stockholders’ Equity. The Company will not, on the last day of any
fiscal quarter commencing with the quarter ended June 30, 2011, permit Consolidated Stockholders’ Equity to be less than $425,000,000. 
 2. Third Amendment Effective Date and Conditions Precedent. This Agreement shall become effective on the first date (the “Third Amendment Effective Date”) on which each of the
following conditions have been satisfied: 
 (a) Representations and Warranties. The representations and warranties
contained in Section 3 of this Agreement shall be true in all material respects on and as of the Third Amendment Effective Date. 
 (b) No Default. No Default or Event of Default shall have occurred and be continuing on the Third Amendment Effective Date. 
 (c) Officer’s Certificate. The Company shall have delivered to each holder of Notes an Officer’s Certificate, dated as of the date of this Agreement, certifying that (i) the
representations and warranties of the Company set forth in Section 3 of this Agreement are true in all material respects, and (ii) no Default or Event of Default has occurred and is continuing. 

 (d) Execution and Delivery by the All Holders. As of the Third Amendment Effective
Date, this Agreement shall have been executed by all holders and copies of the executed signature pages of the holders shall have been delivered to the Company. 
 (e) Delivery by the Company. As of the Third Amendment Effective Date, copies of this Agreement executed by the Company shall have been delivered to each holder of Notes or Bracewell &
Giuliani LLP on their behalf. 
 3. Representations and Warranties of the Company. The Company represents and warrants to
each undersigned holder of Notes that each of the representations and warranties of the Company set forth in the Note Purchase Agreement are true and correct in all material respects as of the Third Amendment Effective Date (except for any such
representations and warranties that were made by reference to a specific earlier date and after giving effect to the supplemental schedules attached hereto), and further represents and warrants as follows: 

(a) Organization; Power and Authority. The Company is a Delaware corporation and is in good standing in its jurisdiction of
organization. 
 (b) Authorization, etc. This Agreement has been duly authorized by all necessary corporate action on the
part of the Company, and upon execution and delivery hereof, this Agreement, and the Note Purchase Agreement, as amended hereby, will constitute legal, valid and binding obligations of the Company enforceable against the Company in accordance with
their respective terms, except as such enforceability may be limited by (i) applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general
principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law). 
 (c)
Compliance with Laws, Other Instruments, etc. The execution, delivery and performance by the Company of this Agreement will not (i) contravene the provisions of the certificate of incorporation or bylaws of the Company or result in a
breach of any of the terms of any Material agreement or instrument by which the Company or any of its Subsidiaries is bound or to which the Company or any of its Subsidiaries is a party, including, without limitation, any Subsidiary Non-Recourse
Debt Documents, (ii) result in a breach of any of the terms, conditions or provisions of any order, judgment, decree, or ruling of any court, arbitrator or Governmental Authority applicable to the Company or any of its Subsidiaries or
(iii) violate any provision of any statute or other rule or regulation of any Governmental Authority applicable to the Company or any of its Subsidiaries. 
 (d) Governmental Authorizations, etc. No consent, approval or authorization of, or registration, filing or declaration with, any Governmental Authority is required in connection with the execution,
delivery or performance by the Company of this Agreement. 
 (e) Existing Revolving Credit Facility. The Existing
Revolving Credit Facility has been repaid in full and cancelled in its entirety. 
 (f) No Default. No Default or Event
of Default has occurred and is continuing. 

 4. Survival of Representations and Warranties. All representations and warranties
contained herein shall survive the execution and delivery of this Agreement. All representations and warranties contained herein also shall survive the transfer by a holder of any Note or portion thereof or interest therein and the payment of any
Note, and may be relied upon by any subsequent holder, regardless of any investigation made at any time by or on behalf of any holder. All statements contained in any certificate or other instrument delivered by or on behalf of the Company pursuant
to this Agreement shall be deemed representations and warranties of the Company under this Agreement. 
 5. Ratification of
Note Purchase Agreement. This Agreement shall be construed in connection with and as part of the Note Purchase Agreement, and except as modified and expressly amended by this Agreement, all terms, conditions and covenants contained in the Note
Purchase Agreement are hereby ratified and shall remain in full force and effect. 
 6. References to Note Purchase
Agreement. Any and all notices, requests, certificates and other instruments executed and delivered after the execution and delivery of this Agreement may refer to the Note Purchase Agreement without making specific reference to this Agreement
but nevertheless all such references shall include this Agreement unless the context otherwise requires. 
 7. Expenses.
The Company agrees to pay all reasonable out-of-pocket expenses of the holders arising in connection with this Agreement, the exchange of the Notes and the transactions contemplated hereby, including without limitation the reasonable fees and
expenses, including reasonable post-closing fees and expenses, of Bracewell & Giuliani LLP, special counsel for the holders of the Notes. 
 8. Headings. The descriptive headings of the various Sections or parts of this Agreement are for convenience only and shall not affect the meaning or construction of any of the provisions hereof.

 9. Governing Law. THIS AGREEMENT SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, AND THE RIGHTS OF THE PARTIES
SHALL BE GOVERNED BY, THE LAW OF THE STATE OF NEW YORK EXCLUDING CHOICE-OF-LAW PRINCIPLES OF THE LAW OF SUCH STATE THAT WOULD REQUIRE THE APPLICATION OF THE LAWS OF A JURISDICTION OTHER THAN SUCH STATE. 

10. Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original and all
of which shall constitute one and the same instrument, and it shall not be necessary in making proof of this Agreement to produce or account for more than one such counterpart. Signatures by pdf or facsimile shall count as original signatures for
all purposes. 
 [Signature page follows] 

 IN WITNESS WHEREOF the parties have caused this Agreement to be executed as of the day and year first above
written. 
  

			
	Very truly yours,
	
	MCG CAPITAL CORPORATION
		
	By:	 	 /s/ STEPHEN J. BACICA

		 	Name: Stephen J. Bacica
		 	Title:    Chief Financial Officer

 This Agreement is hereby accepted 
 and agreed to as of the date thereof. 
  

			
	The Guardian Life Insurance Company of America
		
	By:	 	 /s/ BRIAN KEATING

		 	Name: Brian Keating
		 	Title: Managing Director
	
	The Guardian Insurance & Annuity Company, Inc.
		
	By:	 	 /s/ BRIAN KEATING

		 	Name: Brian Keating
		 	Title: Managing Director

 This Agreement is hereby accepted 
 and agreed to as of the date thereof. 
  

			
	Nationwide Life Insurance Company
		
	By:	 	 /s/ THOMAS A SHANKLIN

		 	Name: Thomas A Shanklin
		 	Title: Authorized Signatory

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