Amendment to Escrow Agreement among Wells Fargo Bank, Macquarie Asset Management Inc., Macquarie Capital (USA) Inc., and Macquarie Equipment Leasing Fund, LLC
This amendment updates an existing escrow agreement between Wells Fargo Bank, Macquarie Asset Management Inc., Macquarie Capital (USA) Inc., and Macquarie Equipment Leasing Fund, LLC. The changes increase the escrow amount from $1,200,000 to $2,500,000 and clarify that payments for share subscriptions must be made to Wells Fargo Bank as escrow agent for the fund. All parties have agreed to these changes, effective March 30, 2009.
EXHIBIT 10.2
Macquarie Asset Management Inc.
A Member of the Macquarie Group of Companies
| 225 Franklin Street 17th Floor, Suite 1700 Boston MA 02110 UNITED STATES | Telephone Fax Internet | +1 ###-###-#### +1 ###-###-#### www.macquarie.com |
March 30 2009
| Jane Labouliere Vice President Wells Fargo Bank, National Association 10 Orms Street, Suite 325 PROVIDENCE RI 02904 | Macquarie Capital (USA) Inc. Macquarie Equipment Leasing Fund, LLC 225 Franklin St, 17th Floor BOSTON MA 02110 | | ||
Dear Ms Labouliere and Others
ESCROW AGREEMENT
We refer to the Escrow Agreement between Wells Fargo Bank, National Association (“Wells Fargo”), Macquarie Asset Management Inc. (“MAMI”), Macquarie Capital (USA) Inc. and Macquarie Equipment Leasing Fund, LLC dated February 2, 2009 (the Agreement).
You are requested to sign and return a copy of this letter to MAMI. By doing so, you will be evidencing your acceptance of the following amendments to the Agreement, effective as of the date of this letter:
| 1. | In the 4th paragraph of the preamble to the Agreement, replace the figure “$1,200,000” with the figure “$2,500,000”; and |
| 2. | In section (3)(a) of the Agreement, add the following new sentence to the end of that section: |
Payment for each subscription for Shares shall be made to “Wells Fargo Bank as Escrow Agent for Macquarie Equipment Leasing Fund, LLC.”
| Yours sincerely Macquarie Asset Management Inc. |
| /s/ Duncan Edghill |
| Duncan Edghill Director, Macquarie Asset Management Inc |
Macquarie Asset Management Inc. is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia), and its obligations do not represent deposits or other liabilities of Macquarie Bank Limited ABN 46 008 583 542. Macquarie Bank Limited does not guarantee or otherwise provide assurance in respect of the obligations of Macquarie Asset Management Inc.
ACCEPTED:
| Macquarie Equipment Leasing Fund, LLC |
| /s/ Duncan Edghill |
| Duncan Edghill Director, Macquarie Asset Management Inc. |
Date: March 30 2009
| Macquarie Capital (USA) Inc. |
| /s/ Tom O’Neill |
| Tom O’Neill Senior Vice President |
Date: March 30 2009
| Wells Fargo Bank, National Association |
| /s/ Jane E. Labouliere |
| Jane E. Labouliere Vice President |
Date: March 30, 2009
