A variable ULX and possible IMBH candidate in M51a

Ultraluminous X-ray source (ULX)-7, in the northern spiral arm of M51, demonstrates unusual behaviour for an ULX, with a hard X-ray spectrum but very high short-term variability. This suggests that it is not in a typical ultraluminous state. We analyse the source using archival data from XMM-Newton, Chandra and NuSTAR, and by examining optical and radio data from HST and Very Large Array. Our X-ray spectral analysis shows that the source has a hard power-law spectral shape with a photon index Gamma similar to 1.5, which persists despite the source's X-ray luminosity varying by over an order of magnitude. The power spectrum of the source features a break at 6.5(-1.1)(+0.5) x 10(-3) Hz, from a low-frequency spectral index of alpha(1) = -0.1(-0.2)(+0.5) to a high-frequency spectral index of alpha(2) = 6.5(-0.14)(+0.05), making it analogous to the low-frequency break found in the power spectra of low/hard state black holes (BHs). We can take a lower frequency limit for a corresponding high-frequency break to calculate a BH mass upper limit of 1.6 x 10(3) M-circle dot. Using the X-ray/radio Fundamental Plane, we calculate another upper limit to the BH mass of 3.5 x 10(4) M-circle dot for a BH in the low/hard state. The hard spectrum, high rms variability and mass limits are consistent with ULX-7 being an intermediate-mass BH; however we cannot exclude other interpretations of this source's interesting behaviour, most notably a neutron star with an extreme accretion rate.