AMENDMENT NO. 1 TO LOAN AND PLEDGE AGREEMENT
AMENDMENT
NO. 1 TO LOAN AND PLEDGE AGREEMENT
This
Amendment No. 1 to the Loan and Pledge Agreement, dated as of September 30,
2002
(the “Loan Agreement”), between AIP Alternative Strategies Fund (“AIP”) and
Custodial Trust Company (“CTC”) is made as of this ___th day of April,
2006.
WHEREAS,
the parties have previously entered into the Loan Agreement, pursuant to which
AIP has been acting with respect to its portfolio, the Alpha Hedged Strategies
Fund (formerly Alpha Strategies I Fund);
WHEREAS,
AIP will also act with respect to an additional portfolio, the Beta Hedged
Strategies Fund;
WHEREAS,
the parties hereto desire to supplement Schedule A of said Loan
Agreement.
NOW,
THEREFORE, in consideration of the mutual promises contained herein, the parties
hereto agree as follows:
1. Schedule
A.
Schedule A is deleted in its entirety and replaced with new Schedule A attached
hereto. Furthermore, said Schedule A may be supplemented or revised at any
time
as agreed by the parties hereto in writing.
2. Continuing
Effect of Loan Agreement.
Except
as expressly modified hereby the provisions of the Loan Agreement are and shall
remain in full force and effect.
3. GOVERNING
LAW.
This
Amendment No. 1 shall be governed by and construed in accordance with the laws
of the State of New York, without regard to the conflict of law principles
thereof. Bank's jurisdiction as a securities intermediary shall, for purposes
of
the New York Uniform Commercial Code, be the State of New York.
(signature
page follows)
IN
WITNESS WHEREOF, the parties have set their hands and as of this ____th day
of
April 2006.
By: /s/Xxx
Xxxxxxxxxx
Name:
Xxx
Xxxxxxxxxx
Title:
President
CUSTODIAL
TRUST COMPANY
By: /s/Xxx
X.
Xxxxxxxxxxx
Name:
Xxx
X. Xxxxxxxxxxx
Title:
President
