Exhibit 10.3

POOLING AND SERVICING AGREEMENT

AMONG

ALLIANCE LAUNDRY SYSTEMS LLC

Servicer and Originator

ALLIANCE LAUNDRY EQUIPMENT RECEIVABLES 2009 LLC

Transferor

AND

ALLIANCE LAUNDRY EQUIPMENT RECEIVABLES TRUST 2009-A

Issuer

DATED AS OF JUNE 26, 2009



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TABLE OF CONTENTS



|                                                              |  |                                                                                            |  |     
|------------------------------------------------------------- |  | ------------------------------------------------------------------------------------------ |  | ----
|                                                              |  |                                                                                            |  | Page
|ARTICLE I                                                     |  |                                                                                           
|CERTAIN DEFINITIONS                                           |  |                                                                                           
|                                                              |  |                                                                                           
|SECTION 1.01                                                  |  | Definitions                                                                                |  | 1   
|                                                              | 
|ARTICLE II                                                    |  |                                                                                           
|PURCHASE AND SALE                                             |  |                                                                                           
|                                                              |  |                                                                                           
|SECTION 2.01                                                  |  | Purchase and Sale                                                                          |  | 1   
|                                                              |  |                                                                                           
|SECTION 2.02                                                  |  | Timing of Conveyances                                                                      |  | 2   
|                                                              |  |                                                                                           
|SECTION 2.03                                                  |  | Character of Transfers                                                                     |  | 2   
|                                                              |  |                                                                                           
|SECTION 2.04                                                  |  | No Recourse                                                                                |  | 2   
|                                                              |  |                                                                                           
|SECTION 2.05                                                  |  | No Assumption of Obligations Relating to Second Tier Purchased Assets                      |  | 2   
|                                                              |  |                                                                                           
|SECTION 2.06                                                  |  | Absolute Conveyances                                                                       |  | 3   
|                                                              |  |                                                                                           
|SECTION 2.07                                                  |  | Effect of Transfer                                                                         |  | 4   
|                                                              |  |                                                                                           
|SECTION 2.08                                                  |  | Servicing of Second Tier Purchased Assets                                                  |  | 4   
|                                                              |  |                                                                                           
|SECTION 2.09                                                  |  | Custody of Collateral Documents                                                            |  | 4   
|                                                              |  |                                                                                           
|SECTION 2.10                                                  |  | Acceptance and Acknowledgment by Issuer                                                    |  | 7   
|                                                              |  |                                                                                           
|SECTION 2.11                                                  |  | Representations and Warranties as to the Loans and Receivables                             |  | 7   
|                                                              |  |                                                                                           
|SECTION 2.12                                                  |  | Payments in Respect of Receivables and Repurchases of Loans                                |  | 8   
|                                                              |  |                                                                                           
|SECTION 2.13                                                  |  | Substitution of Loans                                                                      |  | 9   
|                                                              | 
|ARTICLE III                                                   |  |                                                                                           
|GENERAL ADMINISTRATION; ADMINISTRATION AND SERVICING OF LOANS |  |                                                                                           
|                                                              |  |                                                                                           
|SECTION 3.01                                                  |  | Duties of the Servicer regarding Loans                                                     |  | 10  
|                                                              |  |                                                                                           
|SECTION 3.02                                                  |  | Collection of Loan Payments                                                                |  | 12  
|                                                              |  |                                                                                           
|SECTION 3.03                                                  |  | Prepayments                                                                                |  | 12  
|                                                              |  |                                                                                           
|SECTION 3.04                                                  |  | Realization Upon Defaulted Equipment Loans                                                 |  | 13  
|                                                              |  |                                                                                           
|SECTION 3.05                                                  |  | Maintenance of Insurance Policies                                                          |  | 13  
|                                                              |  |                                                                                           
|SECTION 3.06                                                  |  | Maintenance of Security Interests in Collateral                                            |  | 13  
|                                                              |  |                                                                                           
|SECTION 3.07                                                  |  | Covenants of the Servicer                                                                  |  | 14  
|                                                              |  |                                                                                           
|SECTION 3.08                                                  |  | Servicers Purchase of Loans or Payments in Respect of Receivables Upon Breach of Covenant |  | 17  
|                                                              |  |                                                                                           
|SECTION 3.09                                                  |  | Servicing Fees; Payment of Certain Expenses by Servicer                                    |  | 18  
|                                                              |  |                                                                                           
|SECTION 3.10                                                  |  | Servicers Certificate                                                                     |  | 18  
|                                                              |  |                                                                                           
|SECTION 3.11                                                  |  | Application of Collections                                                                 |  | 19  



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TABLE OF CONTENTS

(continued)



|                                                                     |  |                                                                                 |  |     
|-------------------------------------------------------------------- |  | ------------------------------------------------------------------------------- |  | ----
|                                                                     |  |                                                                                 |  | Page
|                                                                     |  |                                                                                
|SECTION 3.12                                                         |  | Power of Attorney                                                               |  | 19  
|                                                                     |  |                                                                                
|SECTION 3.13                                                         |  | Backup Servicer                                                                 |  | 19  
|                                                                     |  |                                                                                
|SECTION 3.14                                                         |  | Schedule of Loans                                                               |  | 20  
|                                                                     | 
|ARTICLE IV                                                           |  |                                                                                
|ADMINISTRATION AND SERVICING OF RECEIVABLES                          |  |                                                                                
|                                                                     |  |                                                                                
|SECTION 4.01                                                         |  | Designation of the Servicer                                                     |  | 20  
|                                                                     |  |                                                                                
|SECTION 4.02                                                         |  | Duties of the Servicer and Transferor                                           |  | 20  
|                                                                     |  |                                                                                
|SECTION 4.03                                                         |  | Covenants of the Servicer                                                       |  | 22  
|                                                                     |  |                                                                                
|SECTION 4.04                                                         |  | Application of Collections                                                      |  | 22  
|                                                                     | 
|ARTICLE V                                                            |  |                                                                                
|SERVICERS COVENANTS; DISTRIBUTIONS; STATEMENTS TO BENEFICIARIES     |  |                                                                                
|                                                                     |  |                                                                                
|SECTION 5.01                                                         |  | Annual Statement as to Compliance: Notice of Servicer Default                   |  | 22  
|                                                                     |  |                                                                                
|SECTION 5.02                                                         |  | Annual Independent Accountants Report                                          |  | 23  
|                                                                     |  |                                                                                
|SECTION 5.03                                                         |  | Access to Certain Documentation and Information Regarding Loans and Receivables |  | 24  
|                                                                     |  |                                                                                
|SECTION 5.04                                                         |  | Amendments to Loans and to Schedule of Loans                                    |  | 25  
|                                                                     |  |                                                                                
|SECTION 5.05                                                         |  | Assignment of Administrative Loans, Warranty Loans                              |  | 25  
|                                                                     |  |                                                                                
|SECTION 5.06                                                         |  | Distributions                                                                   |  | 26  
|                                                                     |  |                                                                                
|SECTION 5.07                                                         |  | No Set-off                                                                      |  | 26  
|                                                                     |  |                                                                                
|SECTION 5.08                                                         |  | Reporting                                                                       |  | 26  
|                                                                     |  |                                                                                
|SECTION 5.09                                                         |  | Information Provided to Rating Agencies                                         |  | 26  
|                                                                     | 
|ARTICLE VI                                                           |  |                                                                                
|LOCKBOXES, ACCOUNTS; COLLECTIONS, DEPOSITS AND INVESTMENTS; ADVANCES |  |                                                                                
|                                                                     |  |                                                                                
|SECTION 6.01                                                         |  | Loan Lockbox Account                                                            |  | 27  
|                                                                     |  |                                                                                
|SECTION 6.02                                                         |  | Receivables Lockbox Accounts                                                    |  | 28  
|                                                                     |  |                                                                                
|SECTION 6.03                                                         |  | Loan Collection Account                                                         |  | 28  
|                                                                     |  |                                                                                
|SECTION 6.04                                                         |  | Receivables Collection Account                                                  |  | 29  
|                                                                     |  |                                                                                
|SECTION 6.05                                                         |  | Reserve Account                                                                 |  | 30  
|                                                                     |  |                                                                                
|SECTION 6.06                                                         |  | Transfers Between Accounts                                                      |  | 30  
|                                                                     |  |                                                                                
|SECTION 6.07                                                         |  | The Designated Accounts; Control of Designated Accounts                         |  | 30  
|                                                                     |  |                                                                                
|SECTION 6.08                                                         |  | Collections                                                                     |  | 31  
|                                                                     |  |                                                                                
|SECTION 6.09                                                         |  | Investment Earnings                                                             |  | 31  



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TABLE OF CONTENTS

(continued)



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|--------------------------------------------------------------------------------------------- |  | ----------------------------------------------------------------------------------------------------------------------------- |  | ----
|                                                                                              |  |                                                                                                                               |  | Page
|                                                                                              |  |                                                                                                                              
|SECTION 6.10                                                                                  |  | Servicer Advances                                                                                                             |  | 31  
|                                                                                              |  |                                                                                                                              
|SECTION 6.11                                                                                  |  | Additional Deposits                                                                                                           |  | 32  
|                                                                                              |  |                                                                                                                              
|SECTION 6.12                                                                                  |  | Yield Supplement Account                                                                                                      |  | 32  
|                                                                                              | 
|ARTICLE VII                                                                                   |  |                                                                                                                              
|REPRESENTATIONS AND WARRANTIES OF THE TRANSFEROR, ORIGINATOR, SELLER, ISSUER AND THE SERVICER |  |                                                                                                                              
|                                                                                              |  |                                                                                                                              
|SECTION 7.01                                                                                  |  | Representations and Warranties of the Transferor, Originator, Seller, Issuer and the Servicer                                 |  | 32  
|                                                                                              |  |                                                                                                                              
|SECTION 7.02                                                                                  |  | Liability of Transferor                                                                                                       |  | 38  
|                                                                                              |  |                                                                                                                              
|SECTION 7.03                                                                                  |  | Merger or Consolidation of, or Assumption of the Obligations of, Transferor; Amendment of Limited Liability Company Agreement |  | 38  
|                                                                                              |  |                                                                                                                              
|SECTION 7.04                                                                                  |  | Limitation on Liability of Transferor and Others                                                                              |  | 39  
|                                                                                              |  |                                                                                                                              
|SECTION 7.05                                                                                  |  | Transferor May Own Securities                                                                                                 |  | 39  
|                                                                                              |  |                                                                                                                              
|SECTION 7.06                                                                                  |  | Rule 144A                                                                                                                     |  | 39  
|                                                                                              | 
|ARTICLE VIII                                                                                  |  |                                                                                                                              
|LIABILITIES OF SERVICER AND OTHERS                                                            |  |                                                                                                                              
|                                                                                              |  |                                                                                                                              
|SECTION 8.01                                                                                  |  | Liability of Servicer; Indemnities                                                                                            |  | 39  
|                                                                                              |  |                                                                                                                              
|SECTION 8.02                                                                                  |  | Merger or Consolidation of, or Assumption of the Obligations of, the Servicer                                                 |  | 41  
|                                                                                              |  |                                                                                                                              
|SECTION 8.03                                                                                  |  | Limitation on Liability of Servicer and Others                                                                                |  | 42  
|                                                                                              |  |                                                                                                                              
|SECTION 8.04                                                                                  |  | Delegation of Duties                                                                                                          |  | 42  
|                                                                                              |  |                                                                                                                              
|SECTION 8.05                                                                                  |  | Servicer Not to Resign                                                                                                        |  | 43  
|                                                                                              | 
|ARTICLE IX                                                                                    |  |                                                                                                                              
|SERVICER DEFAULT                                                                              |  |                                                                                                                              
|                                                                                              |  |                                                                                                                              
|SECTION 9.01                                                                                  |  | Servicer Defaults                                                                                                             |  | 43  
|                                                                                              |  |                                                                                                                              
|SECTION 9.02                                                                                  |  | Consequences of a Servicer Default                                                                                            |  | 45  
|                                                                                              |  |                                                                                                                              
|SECTION 9.03                                                                                  |  | Indenture Trustee to Act; Appointment of Successor                                                                            |  | 46  
|                                                                                              |  |                                                                                                                              
|SECTION 9.04                                                                                  |  | Notification to the Beneficiaries and the Certificateholders                                                                  |  | 47  
|                                                                                              |  |                                                                                                                              
|SECTION 9.05                                                                                  |  | Waiver of Past Defaults                                                                                                       |  | 47  
|                                                                                              |  |                                                                                                                              
|SECTION 9.06                                                                                  |  | Effects of Termination or Resignation of Servicer                                                                             |  | 47  
|                                                                                              | 
|ARTICLE X                                                                                     |  |                                                                                                                              
|TERMINATION; REDEMPTION                                                                       |  |                                                                                                                              
|                                                                                              |  |                                                                                                                              
|SECTION 10.01                                                                                 |  | Optional Purchase of Equipment Loans and Receivables                                                                          |  | 48  
|                                                                                              |  |                                                                                                                              
|SECTION 10.02                                                                                 |  | Termination of the Agreement                                                                                                  |  | 48  



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TABLE OF CONTENTS

(continued)



|                         |  |                                           |  |     
|------------------------ |  | ----------------------------------------- |  | ----
|                         |  |                                           |  | Page
|ARTICLE XI               |  |                                          
|MISCELLANEOUS PROVISIONS |  |                                          
|                         |  |                                          
|SECTION 11.01            |  | Amendment                                 |  | 48  
|                         |  |                                          
|SECTION 11.02            |  | Protection of Title to Owner Trust Estate |  | 50  
|                         |  |                                          
|SECTION 11.03            |  | Notices                                   |  | 51  
|                         |  |                                          
|SECTION 11.04            |  | Governing Law                             |  | 51  
|                         |  |                                          
|SECTION 11.05            |  | Severability of Provisions                |  | 51  
|                         |  |                                          
|SECTION 11.06            |  | Assignment                                |  | 52  
|                         |  |                                          
|SECTION 11.07            |  | Benefits of Agreement                     |  | 52  
|                         |  |                                          
|SECTION 11.08            |  | Separate Counterparts                     |  | 52  
|                         |  |                                          
|SECTION 11.09            |  | Headings and Cross-References             |  | 52  
|                         |  |                                          
|SECTION 11.10            |  | Assignment to Indenture Trustee           |  | 52  
|                         |  |                                          
|SECTION 11.11            |  | No Petition Covenants                     |  | 52  
|                         |  |                                          
|SECTION 11.12            |  | Limitation of Liability of the Trustees   |  | 53  
|                         |  |                                          
|SECTION 11.13            |  | Survival of Agreement                     |  | 53  
|                         |  |                                          
|SECTION 11.14            |  | Cooperation and Further Assurances        |  | 53  
|                         |  |                                          
|SECTION 11.15            |  | No Recourse                               |  | 54  



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|              |  |                                               
|------------- |  | ----------------------------------------------
|EXHIBITS     
|EXHIBIT A-1   |  | Form of Initial PSA Assignment                
|              | 
|EXHIBIT A-2   |  | Form of Additional PSA Assignment             
|              | 
|EXHIBIT A-3   |  | Form of Substitution Assignment               
|              | 
|EXHIBIT B     |  | Locations of Schedule of Loans and Receivables
|              | 
|EXHIBIT C     |  | [Reserved]                                    
|              | 
|EXHIBIT D     |  | Form of Servicers Certificate                
|              | 
|EXHIBIT E     |  | Form of Control Agreement                     
|              | 
|EXHIBIT F     |  | Form of Borrowing Base Certificate            
|              | 
|EXHIBIT G     |  | Agreed Upon Procedures                        
|             
|APPENDICES   
|              | 
|APPENDIX A    |  | Defined Terms and Rules of Construction       
|              | 
|APPENDIX B    |  | Addresses and Procedures                      
|              | 
|APPENDIX C    |  | Credit Agreement                              
|             
|SCHEDULES    
|              | 
|SCHEDULE 7.01 |  | Perfection Certificate  Transferor           



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THIS POOLING AND SERVICING AGREEMENT(this Agreement) is made as of
June 26, 2009, by and among ALLIANCE LAUNDRY SYSTEMS LLC, a Delaware limited liability company (ALS and, in its capacity as Originator and Servicer hereunder, the Originator and the
Servicer, respectively), ALLIANCE LAUNDRY EQUIPMENT RECEIVABLES 2009 LLC, a Delaware limited liability company (ALER and, in its capacity as the Transferor hereunder, the Transferor), and
ALLIANCE LAUNDRY EQUIPMENT RECEIVABLES TRUST 2009-A, a Delaware statutory trust (the Issuer).

WHEREAS, pursuant
to the Purchase Agreement, ALS will from time to time sell or convey certain Loans and all of its Receivables to the Transferor;

WHEREAS, the Transferor desires to further contribute such Loans and Receivables to the Issuer in respect of its beneficial interest in the Issuer, and the Servicer desires to perform the servicing obligations set forth herein for,
and in consideration of, the fees and other benefits set forth in this Agreement;

WHEREAS, the Transferor and the Issuer wish to
set forth the terms pursuant to which such Loans and Receivables are to be transferred by the Transferor to the Issuer, and the Servicer and the Issuer wish to set forth the terms pursuant to which such Loans and Receivables will be serviced by the
Servicer;

NOW, THEREFORE,in consideration of the foregoing, the other good and valuable consideration and the mutual terms and
covenants contained herein, the parties hereto agree as follows:

ARTICLE I

CERTAIN DEFINITIONS

SECTION 1.01 Definitions. Certain capitalized terms
used in the above recitals and in this Agreement are defined in and shall have the respective meanings assigned them in Part I of Appendix A to this Agreement. All references herein to the Agreement or this
Agreement are to this Pooling and Servicing Agreement as it may be amended, supplemented or modified from time to time, the exhibits hereto and the capitalized terms used herein which are defined in such Appendix A, and all references
herein to Articles, Sections and subsections are to Articles, Sections or subsections of this Agreement unless otherwise specified. The rules of construction set forth in Part II of such Appendix A shall be applicable to this
Agreement.

ARTICLE II

PURCHASE AND SALE

SECTION 2.01 Purchase and Sale. The Originator has previously sold, transferred and conveyed to
the Transferor, the Transferor hereby conveys, transfers or assigns to the Issuer, and the Issuer hereby accepts from the Transferor, at the times set forth in Section 2.02, all of Transferors right, title and interest in, to and
under:

(a) all Specified Assets that existed and were transferred to the Transferor on the Closing Date under the Purchase Agreement;



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(b) all Specified Assets that existed and were acquired by the Transferor on each Purchase Date during
the period from and including the closing of business on the Closing Date to the Purchase Termination Date;

(c) the Purchase Agreement and
the other Basic Documents (other than the Trust Agreement, and the documents and certificates executed in connection with the foregoing) to the extent such rights relate to the Specified Assets, including the right of the Transferor to cause ALS to
perform its obligations thereunder (including the obligation of ALS under Sections 2.12(c) and (d) of the Purchase Agreement); and

(d) any and all income and Proceeds of the property described in clauses (a) through (c) above.

As used herein, Second Tier Purchased Assets means the items listed above in clauses (a), (b), (c) and (d) collectively.

SECTION 2.02 Timing of Conveyances.

(a) Initial Closing Date Conveyances. On the Closing Date, the Transferor will, pursuant to an assignment in the form attached hereto as Exhibit A-1 (the Initial PSA Assignment), convey, transfer, assign,
and set over to the Issuer all of the Specified Assets acquired by the Transferor on the Closing Date pursuant to the Purchase Agreement.

(b) Regular Conveyances. On each Purchase Date under the Purchase Agreement, the Transferor will immediately, upon the acquisition by the Transferor of such Specified Assets, transfer, each and every Specified Asset acquired by the
Transferor on such Purchase Date pursuant to the terms of the Purchase Agreement. Solely with respect to the Equipment Loans and the Related Assets with respect thereto, each such transfer shall be pursuant to an assignment in the form attached
hereto as Exhibit A-2 (the Additional PSA Assignment).

SECTION 2.03 Character of Transfers. Each transfer
of Second Tier Purchased Assets as set forth in Section 2.02 will be treated as a capital contribution by the Transferor to the Issuer.

SECTION 2.04 No Recourse. Except as specifically provided in Section 2.12 of this Agreement, the transfer of Second Tier Purchased Assets under this Agreement shall be without recourse to the Transferor; it being
understood that the Transferor shall be liable to the Issuer for all representations, warranties, covenants and indemnities made by the Transferor pursuant to the terms of this Agreement, all of which obligations are limited so as not to constitute
recourse to the Transferor for the credit risk of the Obligors under any Second Tier Purchased Assets.

SECTION 2.05 No Assumption of
Obligations Relating to Second Tier Purchased Assets. Neither the Issuer nor the Servicer shall have any obligation or liability to any Obligor or other customer or client of the Transferor (including any obligation to perform any of the



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obligations of the Transferor under any Second Tier Purchased Asset including any contract or purchase orders or other agreements related to any Second Tier
Purchased Asset). No such obligation or liability is intended to be assumed by the Issuer or the Servicer hereunder, and any such assumption is expressly disclaimed.

SECTION 2.06 Absolute Conveyances. Each of the Transferor and the Issuer intends each transfer of the Second Tier Purchased Assets hereunder to be capital contributions by the Transferor to the Issuer, that in
each case are absolute and irrevocable and that provide the Issuer with the full benefits of ownership of the Second Tier Purchased Assets. Neither the Issuer nor the Transferor intends the transactions contemplated hereunder to be, or for any
purpose to be characterized as, loans from the Issuer to the Transferor.

The Transferor, the Servicer and the Issuer intend to treat such
transfer and assignment as a capital contribution for accounting purposes. Notwithstanding the foregoing, if the arrangements with respect to such assets are deemed for any purpose to constitute a loan and not a purchase and sale or capital
contribution of the Second Tier Purchased Assets, it is the intention of the parties hereto that this Agreement shall still constitute a security agreement under applicable law, and Transferor hereby grants to the Issuer a first priority perfected
security interest in all of Transferors right, title and interest, whether now owned or hereafter acquired, in, to and under the Second Tier Purchased Assets, and all money, accounts, general intangibles, payment intangibles, chattel paper,
instruments, documents, supporting obligations, goods, investment property, deposit accounts, securities entitlements, certificates of deposit, letters of credit, letter-of-credit rights, and advices of credit consisting of, arising from or related
to such assets, and all Proceeds thereof, to secure its obligations hereunder, including its obligation to remit to the Issuer, or its successors and assigns, all Collections of such assets and other Proceeds of such assets and all other Second Tier
Purchased Assets. The Transferor and the Issuer agree that the foregoing transfers of Purchased Receivables and Loans included in the Second Tier Purchased Assets constitute sales of accounts, promissory notes and
chattel paper as described in the UCC, and that this Agreement shall create a security interest in favor of the Issuer as the purchaser of such assets.

Each of the Transferor and the Issuer shall, to the extent consistent with this Agreement, take such actions as may be necessary to ensure that, if this Agreement is deemed to create a security interest in the Second
Tier Purchased Assets, such security interest would be deemed to be a perfected security interest of first priority Lien in favor of the Indenture Trustee (as assignee of the Issuer) under applicable law (including the filing of any financing
statements describing the subject of such security interest as all assets of the Transferor) and will be maintained as such throughout the term of this Agreement. Such grant of a security interest in the Second Tier Purchased Assets shall be deemed
to include all rights, powers and options (but none of the obligations, if any) of the Transferor under any agreement or instrument included in the assets referred to in the Second Tier Purchased Assets, including the immediate and continuing right
to claim for, collect, receive and give receipt for principal and interest payments in respect of Purchased Equipment Loans and all other monies payable under such Purchased Equipment Loans, the immediate and continuing right to collect the
Purchased Receivables to give and receive notices and other communications, to make waivers or other agreements, to exercise all rights and options, to bring Proceedings in the name of the Transferor or otherwise and generally to do and receive
anything that the Transferor is or may be entitled to do or receive under or with respect to the Second Tier Purchased Assets. For purposes of such grant, this Agreement shall constitute a security agreement under the UCC.



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SECTION 2.07 Effect of Transfer. Upon each Advance under the Indenture and the Note Purchase
Agreement, title to the Second Tier Purchased Assets shall vest in the Issuer, whether or not the conditions precedent to the obligation of the Issuer to acquire such Second Tier Purchased Assets were in fact satisfied.

SECTION 2.08 Servicing of Second Tier Purchased Assets. Consistent with the Issuers ownership of the Second Tier Purchased Assets, the
Issuer shall have the sole right to service, administer and collect the Second Tier Purchased Assets and to assign such right to others.

SECTION 2.09 Custody of Collateral Documents. Simultaneously with the execution and delivery of this Agreement, the Servicer, the Issuer, the Indenture Trustee and the Custodian shall enter into the Custodial Agreement, whereby the
Custodian shall act as the agent of the Indenture Trustee as custodian of the following documents and instruments (collectively, the Collateral Documents) for each Loan to be acquired by the Issuer pursuant to the terms of this
Agreement:

(a) the fully executed endorsed original of the Equipment Note and any original loan agreement for any such Loan (which shall
not bear any transfer or encumbrance legend or, if it shall bear such a legend, shall be accompanied by an unconditional release from the party or parties named in such legend);

(b) the original, fully executed Guaranty executed in respect of such Loan (unless the Loan Schedule certifies that such document does not exist with
respect to the applicable Loan);

(c) the original, fully executed security agreement executed for such Loan;

(d) the original file-stamped UCC financing statement with recording information indicated thereon for such Loan filed by the Originator against the
Obligor with respect to the related Equipment or a copy thereof and related certificates (as provided in the second paragraph below);

(e)
the Delivery and Acceptance Receipt for the Equipment relating to such Loan (unless the Loan Schedule certifies that such document does not exist with respect to the applicable Loan) or a copy thereof and related certification (as provided in the
second paragraph below); and

(f) the assignment of lease, landlord waiver, mortgagee waiver or deed, in each case, with respect to the
real property on which the related Equipment is located (unless the Loan Schedule certifies that such document does not exist with respect to the applicable Loan and is not required to be delivered to the Custodian pursuant to this Agreement).

The Transferor shall, or shall cause the Servicer to, deliver to the Custodian (i) on or prior to the Closing Date, all of the
Collateral Documents (but shall retain copies thereof) relating to the entire Aggregate Initial Loan Balance of the Initial Loans (except for Loan #130013073, to



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Mona Eldib d/b/a Main Laundromat), and (ii) the Collateral Documents relating to the remaining Initial Loans within sixty (60) Business Days of the
Closing Date. On or prior to the Closing Date (with respect to the entire Aggregate Initial Loan Balance of the Initial Loans (except for Loan #130013073, to Mona Eldib d/b/a Main Laundromat), and two (2) Business Days after receipt by the
Custodian solely with respect to Loan #130013073, to Mona Eldib d/b/a Main Laundromat) such Collateral Documents shall have been certified as complete and without Exception (as defined in the Custodial Agreement) by the Custodian (a copy of such
certification will be provided to the Administrative Agent and the Indenture Trustee). With respect to any Loan transferred to the Issuer after the Closing Date, the Transferor shall, or shall cause the Servicer to, deliver all of the Collateral
Documents (but shall retain copies thereof) relating to such Loans to the Custodian and such Collateral Documents shall have been certified as complete and without Exception (as defined in the Custodial Agreement) by the Custodian (a copy of such
certification will be provided to the Administrative Agent and the Indenture Trustee) no later than 3:00 p.m. on the Business Day prior to, and as a condition to the funding of the Equipment Loan under the Indenture, on the applicable Equipment Loan
Borrowing Date. The Custodian shall, in accordance with the Custodial Agreement, review and certify as complete pursuant to a Custodian Receipt Certification all Collateral Documents required to be delivered to the Custodian with respect to each
Loan. Except as otherwise provided herein with respect to the transfer of servicing duties hereunder, the Servicer: (i) shall maintain in its possession the Loan Files and Receivables Files (other than the Collateral Documents) in a manner
consistent with the Loan Servicing Standards, (ii) will not dispose of any documents constituting the Loan Files or Receivables Files, (iii) will not permit any Person other than the Indenture Trustee to maintain any adverse claim upon any
Loan File or Receivables File, and (iv) will not permit any Person other than the Indenture Trustee, the Servicer (or any sub-servicer or other agent permitted hereunder) or the Custodian to maintain possession of any Loan File or Receivable
File so long as the related Loan or Receivable shall remain part of the Trust Estate.

With respect to any Collateral Documents described
in clauses (d) or (f) above which have been delivered, or are being delivered, to recording offices for recording and have not been returned to the Transferor or Servicer in time to permit their delivery hereunder at the time
required, then, in lieu of delivering such original documents, the Transferor or Servicer shall deliver to the Custodian a true copy thereof with a certification (a copy of which certification shall be delivered to the Administrative Agent and the
Indenture Trustee) executed by an authorized representative of the Transferor or Servicer certifying that such copy is a true, correct and complete copy of the original, which has been transmitted for recordation. The Transferor or Servicer shall
deliver such original documents to the Custodian promptly when they are received.

Upon termination of the Servicer as Servicer, the
terminated Servicer shall promptly deliver to the Indenture Trustee any Loan Files and any Receivables Files, or portion thereof, as applicable, and any copies of the Collateral Documents that may be in the possession of such Servicer and that may
have been delivered to such Servicer pursuant to this Section 2.09. From time to time, solely to the extent the same is required to implement the foreclosure, purchase, payoff, substitution or servicing of the Loans or Receivables by the
Servicer or any related collateral, the Servicer may request release by the Custodian of, and the Custodian shall deliver to the Servicer, any portion of the Collateral Documents in accordance with the terms of the Custodial Agreement. A copy of any
such request shall be sent concurrently to the Administrative Agent and the Indenture Trustee. In the event that an Event of Default, Default,



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Rapid Amortization Event or Servicer Default has occurred and is continuing, the consent of the Required Noteholders shall be required in order for the
Servicer to make any such request. The Servicer shall promptly return to the Custodian each and every document previously requested from the Collateral Documents when the Servicers need therefor no longer exists, unless the Loan or Receivable
has been liquidated, paid off or collected, is a Warranty Loan, an Administrative Loan or is a Loan with respect to which a Substitute Loan has been substituted in its place, in which case, the Servicer shall provide a certification to this effect
to the Custodian, which may be included in the request for release, a copy of which shall be sent concurrently to the Administrative Agent and the Indenture Trustee.

Notwithstanding anything to the contrary set forth herein, the Servicer shall not, without the prior written consent of the Administrative Agent (acting at the direction of the Required Noteholders), be entitled to
request any Collateral Documents held by the Custodian if the sum of the unpaid Loan Balances of all Loans for which the Servicer is then in possession of the related Collateral Documents (other than for Loans then held by the Servicer which have
been repurchased, paid off, substituted or liquidated in accordance with the Loan Servicing Standards) (including the Collateral Documents to be requested) exceeds 5% of the Aggregate Loan Balances of all Loans then owned by the Trust. The Servicer
may hold, and hereby acknowledges that it shall hold, any Collateral Documents and all other property included in the Trust Estate property that it may from time to time receive hereunder as custodian for the Indenture Trustee solely at the will of
the Custodian and the Indenture Trustee for the sole purpose of facilitating the servicing of the Loans and such retention and possession shall be in a custodial capacity only. To the extent the Servicer, as agent of the Indenture Trustee and the
Issuer, holds any Trust Estate property, the Servicer shall do so in accordance with the Loan Servicing Standards as such standard applies to servicers acting as custodial agent. The Servicer shall promptly report to the Custodian and the Indenture
Trustee the loss by it of all or part of any Collateral Documents previously provided to it by the Custodian and shall promptly take appropriate action to remedy any such loss. In such custodial capacity, the Servicer shall have and perform the
following powers and duties:

(i) hold the Loan Files and Collateral Documents that it may from time to time receive
hereunder from the Indenture Trustee for the benefit of the Indenture Trustee, maintain accurate records pertaining to each Loan to enable it to comply with the terms and conditions of the Indenture and this Agreement, and maintain a current
inventory thereof;

(ii) implement policies and procedures consistent with the Servicing Standards (and the Credit and
Collection Policies generally) and requirements of the Custodial Agreement so that the integrity and physical possession of such Loan Files and Collateral Documents will be maintained; and

(iii) take all other actions, in accordance with the Servicing Standards (and the Credit and Collection Policies generally), in connection
with maintaining custody of such Loan Files and Collateral Documents on behalf of the Indenture Trustee.



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Acting as custodian of the Loan Files pursuant to this Section, the Servicer agrees that it does not and will not have or
assert any beneficial ownership interest in the Loans, the Loan Files or the Collateral Documents.

The Servicer agrees to maintain the
Collateral Documents in its possession that it may from time to time receive from the Custodian at its office located in Ripon, Wisconsin or at such other offices of the Servicer as shall from time to time be identified by prior written notice to
the Indenture Trustee and the Administrative Agent. Notwithstanding the foregoing, the Servicer may temporarily move individual Loan Files or Receivables Files (or any portion thereof) or any Collateral Documents without notice as necessary to
conduct the collection and other servicing activities originally set forth in the request for release in accordance with the Servicing Standards; provided, that the Servicer shall not move any such Loan Files, Receivables Files or such
Collateral Documents for more than thirty (30) days without obtaining the written consent of the Indenture Trustee and the Administrative Agent (acting at the direction of the Required Noteholders), such consent not to be unreasonably withheld
or delayed.

SECTION 2.10 Acceptance and Acknowledgment by Issuer. (a) The Issuer hereby accepts the Second Tier Purchased
Assets and declares that the Issuer shall hold such assets in trust for the benefit of Beneficiaries in accordance with the Trust Agreement, the Indenture and this Agreement. The Issuer hereby accepts the appointment of ALS as Servicer.

(b) Transfer of Conveyed Assets. Each of the Transferor, ALS, as the Originator, and the Servicer understands that the Issuer intends to pledge
the Trust Estate to the Indenture Trustee for the benefit of the Beneficiaries pursuant to the Indenture. Each of the Transferor, ALS, as the Originator, and the Servicer agrees that, upon the occurrence of an Event of Default, the Indenture Trustee
may exercise the rights of the Issuer hereunder and shall be entitled to all of the benefits to which the Issuer is entitled hereunder to the extent provided for in the Indenture.

SECTION 2.11 Representations and Warranties as to the Loans and Receivables. Pursuant to Section 2.01(c), the Transferor assigned to
the Issuer all of its right, title and interest in, to and under the Purchase Agreement, including the representations and warranties of ALS made to the Transferor pursuant to Section 3.1 of the Purchase Agreement. Each of the Originator
and the Transferor hereby represents, warrants and covenants to the Issuer that it has taken no action, and will take no action, which would cause such representations, warranties and covenants to be false in any material respect as of the Closing
Date, Purchase Date or Substitution Date, as applicable. Each of the Originator and the Transferor further acknowledges that the Issuer, the Indenture Trustee and the Beneficiaries rely on, and for their benefit, the Transferor hereby reaffirms, the
representations, warranties and covenants of the Transferor under this Agreement and the Originator hereby reaffirms the representations, warranties and covenants of ALS under the Purchase Agreement, in accepting the Loans and Receivables in trust
and executing and delivering the Securities. The foregoing representations and warranties are made as of the Closing Date, Purchase Date or Substitution Date but shall survive the sale, transfer and assignment of the Loans, the Receivables and the
other Second Tier Purchased Assets to the Issuer and the pledge thereof to the Indenture Trustee pursuant to the Indenture, until the Indenture is terminated in accordance with its terms; provided that to the extent such representations and
warranties relate to the Receivables and the Related Assets with respect thereto, such representations and warranties shall survive only until the Receivables Payoff Date.



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SECTION 2.12 Payments in Respect of Receivables and Repurchases of Loans. Upon discovery by the
Transferor, the Administrative Agent, the Servicer, the Issuer or the Indenture Trustee of a breach of any of the representations and warranties made with respect to any Conveyed Assets that were identified as Eligible Receivables and/or Eligible
Equipment Loans on the relevant Funding Date Data Pool Report in:

(x) Section 3.01 of the Purchase Agreement (irrespective of
any limitation set forth in the Purchase Agreement regarding knowledge of the Originator); or

(y) Section 2.11 or clauses
(i), (ii) or (iii) of Section 7.01(b) of this Agreement; or

(z) Section 7.01(a),
Section 7.01(b) (other than clauses (i), (ii) and (iii) of Section 7.01(b)) or Section 7.01(c) of this Agreement which breach materially and adversely affects the interests of the
Beneficiaries in, or collectability of, the affected Loan or Receivable, as the case may be;

the party discovering such breach shall give prompt written
notice thereof to the others.

Unless such breach shall have been waived in writing by the Administrative Agent (at the direction of the
Required Noteholders) or cured in all material respects (whether by remedying the affected Loan or Receivable or by the Transferors acquiring and conveying to the Issuer additional Eligible Receivables or Eligible Equipment Loans, as the case
may be), then the Transferor (in the event of a breach of the representations and warranties made by the Transferor and not by the Originator) or the Originator (in the event of a breach of representation and warranty of the Originator and not the
Transferor), shall:

(i) in the case of a non-conforming Receivable, on the Receivables Conversion Date (and on each
Business Day after the Receivables Conversion Date, with respect to events or conditions that occur or exist (or are discovered) after the Receivables Conversion Date) pay the Receivables Credit Amount, if any, as described and defined in
Section 2.12(c) of the Purchase Agreement; and

(ii) in the case of a non-conforming Loan, unless the Transferor
shall have provided a Substitute Loan as provided in Section 2.13, repurchase such Loan from the Issuer for a price equal to the Warranty Payment by not later than the Distribution Date following the second Accounting Date after the
receipt of notice of such breach.

The Owner Trustee shall have no affirmative duty to conduct any investigation as to the occurrence of any event
requiring the repurchase of any non-conforming Loan or the payment in respect of any non-conforming Receivable pursuant to this Section 2.12.

It is understood and agreed that the obligation of the Warranty Purchaser to repurchase any Loan or make such payment in respect of a Receivable as to which a breach has occurred and is continuing shall, if such
payment or repurchase obligations are fulfilled, constitute the sole remedy against the Transferor, the Servicer or ALS for such breach available to any Interested



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Party. The Servicer acknowledges its obligations to repurchase Administrative Loans from the Issuer pursuant to Section 3.08 and ALS, in its
capacity as the seller under the Purchase Agreement, acknowledges its obligations to repurchase Warranty Loans pursuant to Section 2.12 of the Purchase Agreement.

SECTION 2.13 Substitution of Loans.

(a) Provided no Rapid Amortization Event or Event of Default has occurred and is continuing, the Transferor may, at its option, transfer to the Issuer on or prior to the eighth day of a month, pursuant to an assignment, substantially in the
form attached hereto as Exhibit A-3 (each, a Substitution Assignment) one or more Eligible Equipment Loans (each, a Substitute Loan) for any Loan that became subject to a Warranty Event (each such
replaced Loan, a Predecessor Loan), together with all right, title and interest of the Transferor in, to and under:

(i) all documents and instruments evidencing or governing the Substitute Loans and all Loan Files relating thereto, identified in the schedule to the Substitution Assignment and all monies paid or payable thereon
(including Liquidation Proceeds) on or after or due and payable, but in each case not paid, as of the Substitution Cutoff Date;

(ii) the Equipment, including all security interests therein, granted by Obligors pursuant to such Substitute Loans and any other collateral securing such Substitute Loans;

(iii) any Insurance Policies, and Proceeds thereof, and rights and benefits thereunder, with respect to such Equipment and any other
collateral securing such Substitute Loans;

(iv) with respect to such Substitute Loans, any Guaranties, and Proceeds
thereof, and all rights and benefits thereunder;

(v) all funds on deposit from time to time in the Loan Lockbox or in the
Loan Lockbox Account with respect to such Substitute Loans and all Proceeds thereof;

(vi) the Purchase Agreement, and the
other Basic Documents (other than the Trust Agreement, the Trust Certificate, the Certificates and the documents and certificates executed in connection with the foregoing) relating to such Loan, including the right of the Transferor to cause ALS to
perform its obligations thereunder (including the obligation to repurchase such Loans under certain circumstances); and

(vii) any Proceeds of the property described in clauses (i) through (vi) above.

The sum of the Loan
Balances, measured as of the Substitution Cutoff Date, of the Substitute Loans to be transferred to the Issuer on any Substitution Date shall not be less than the sum of the Loan Balances, or more than 110%, of the sum of the Loan Balance of the
Predecessor Loans, in each case measured as of the Substitution Cutoff Date. Any such Substitute Loan shall also bear interest at the same or higher rate of interest as the Predecessor Loan and shall also have a final maturity date that is not later
than six months prior to the Final Scheduled Distribution Date.



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(b) Each Substitute Loan shall be an Eligible Equipment Loan as of the close of business on the last day
of the month preceding the Substitution Date (the Substitution Cutoff Date), and no Substitute Loan shall have previously been a Substitute Loan. Loans may not be substituted for Warranty Loans if and to the extent (i) from
the Closing Date, the sum of the Loan Balances (measured as of the related Substitution Cutoff Date) of all Substitute Loans (including the Eligible Equipment Loans to be substituted on such date) exceeds an amount equal to 5% of the sum of the Loan
Balances of all Loans transferred by the Transferor to the Trust on or after the Closing Date, or (ii) after giving effect to the addition of the Substitute Loans to be added on such date, the Equipment Loan Borrowing Base would be less than
the Aggregate Equipment Loan Note Principal Balance.

(c) Upon the replacement of a Loan and collateral as described above, the interest of
the Trustees and the Noteholders in such Predecessor Loan and related collateral shall be terminated and such Predecessor Loan and collateral shall be released to the Transferor.

(d) Any substitution of a Loan pursuant to this Agreement shall be effected by (i) delivery to the Custodian on behalf of the Indenture Trustee of
the Collateral Documents for each such Substitute Loan on or prior to the related Substitution Date in accordance with Section 2.03, (ii) filing of any UCC financing statements necessary to perfect the interest of the Indenture
Trustee in the Substitute Loans, (iii) delivery to the Indenture Trustee of a list of Substitute Loans reflecting such substitution, and (iv) execution of and delivery of the related Assignments.

ARTICLE III

GENERAL
ADMINISTRATION; ADMINISTRATION AND SERVICING OF LOANS

SECTION 3.01 Duties of the Servicer regarding Loans. ALS is hereby
appointed as the initial Servicer. The Servicer is hereby appointed and authorized to act as agent for the Owner of the Loans and in such capacity shall manage, service, administer and make Collections on the Loans with reasonable care, using no
less than that degree of skill and attention that the Servicer exercises with respect to comparable stand-alone commercial laundry equipment loans that it services for itself or others and consistent with the Loan Credit and Collection Policy
(collectively, the Loan Servicing Standards). ALS hereby accepts such appointment and authorization and agrees to perform the duties of Servicer with respect to the Loans set forth herein. The Servicers duties shall include,
but not be limited to, collection and posting of all payments, responding to inquiries of Obligors on the Loans, investigating delinquencies, sending payment statements to Obligors, upon the request of an Obligor reporting tax information to such
Obligors (which currently consists of IRS Form 1098), monitoring the collateral in accordance with the Loan Servicing Standards, accounting for Collections and furnishing monthly and annual statements to the Owner of any Loans with respect to
distributions, maintaining the first priority perfected security interest of the Indenture Trustee in the Trust Estate (other than Exempt Collateral) for the benefit of the Beneficiaries and filing any financing and continuation statements required
to be filed pursuant to the UCC, including filings against ALS, the



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Transferor and Alliance Laundry Equipment Receivables 2005 LLC, respectively, to perfect the transfers pursuant to the Purchase Agreement, this Agreement and
any document pursuant to which ALS acquired such assets from the Transferor and Alliance Laundry Equipment Receivables 2005 LLC, continuation statements shall be filed on or before the 60th day prior to the expiration date of such financing
statement; and promptly delivering evidence of all such filings to the Indenture Trustee and the Administrative Agent which evidence shall be satisfactory in form and substance to the Administrative Agent with evidence of the filing of continuation
statements being delivered on or before the 30th day before the expiration of such financing statements, and performing the other duties specified herein. Subject to the provisions of Section 3.02, the Servicer shall follow the Loan
Servicing Standards and shall have full power and authority, acting alone, to do any and all things in connection with such managing, servicing, administration and collection that it may deem necessary or desirable.

Without limiting the generality of the foregoing, the Servicer is hereby authorized and empowered by the Owner of the Loans, pursuant to this
Section 3.01 to execute and deliver, on behalf of all Interested Parties, or any of them, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with
respect to the Loans and the related collateral but solely to the extent such release or discharge is expressly permitted pursuant to the terms of the Basic Documents. The Servicer is hereby authorized to commence in the name of the Owner of such
Loan or, to the extent necessary, in its own name, a legal proceeding to enforce a Defaulted Equipment Loan as contemplated by Section 3.04, to enforce all obligations of ALS and ALER, in its capacity as the Transferor or otherwise,
under each of the Purchase Agreement and the Pooling and Servicing Agreement or to commence or participate in a legal proceeding (including a bankruptcy proceeding) relating to or involving a Loan or a Defaulted Equipment Loan. If the Servicer
commences or participates in such a legal proceeding in its own name (which any successor Servicer shall not be permitted to do, it being understood that in no event will any successor Servicer take any action hereunder in its own name, including
setting up accounts or directing Obligors to make payments to it or in its name), the Owner of such Loan shall thereupon be deemed to have automatically assigned such Loan to the Servicer solely for purposes of commencing or participating in any
such proceeding as a party or claimant, the Servicer is hereby authorized and empowered by the Owner of a Loan to execute and deliver in the Servicers name any notices, demands, claims, complaints, responses, affidavits, all instruments of
satisfaction or cancellation, or of partial or full release or discharge or other documents or instruments in connection with any such proceeding. Any Owner of Loans, upon the written request of the initial Servicer, shall furnish the Servicer with
any powers of attorney and other documents and take any other steps which the Servicer may deem necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties under this Agreement. Except to the extent required
by the preceding two sentences, the authority and rights granted to the Servicer in this Section 3.01 shall be nonexclusive and shall not be construed to be in derogation of the retention by the Owner of a Loan of equivalent authority
and rights. If in any proceeding it is held that the Servicer may not enforce a Loan on the grounds that it is not a real party in interest or a holder entitled to enforce the Loan, the applicable Trustee shall, at the Servicers specific
written direction and expense, take such steps as shall be reasonably required to enforce the Loan, including bringing suit in the name of such Person.



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SECTION 3.02 Collection of Loan Payments. The Servicer shall make reasonable efforts to collect
all payments called for under the terms and provisions of the Loans as and when the same shall become due, and shall follow the Loan Servicing Standards. Notwithstanding anything in this Agreement to the contrary, neither the Indenture Trustee nor
the Servicer shall release the Equipment or other collateral securing a Loan from the lien of the Indenture unless the outstanding Loan Balance, if any, of such Loan has been deposited into the Equipment Collection Account, except (x) upon
substitution of Substitute Loans, (y) substitution of equivalent Equipment or other collateral (such substitution shall not reduce the Obligors payment obligations under such Loan) or (z) the foreclosure and sale of collateral or
final settlement or compromise of a Defaulted Equipment Loan in which case the Proceeds of such foreclosure, sale, or final settlement or compromise shall be deposited into the Collection Account as required under the Basic Documents. Subject to the
limitations in Section 3.07(c), the Servicer is hereby authorized, in a manner consistent with the Credit and Collection Policy, to (i) grant extensions, rebates or adjustments on a Loan without the prior consent of the Owner, the
Administrative Agent or the Noteholders, and (ii) consent to the assignment or assumption, including the release of the existing Obligor in connection therewith, without the prior consent of the Owner, the Administrative Agent or the
Noteholders, provided that (x) after giving effect to such extension, rebate or adjustment, the Equipment Loan Borrowing Base would not be less than the then Aggregate Equipment Loan Note Principal Balance, (y) with respect to any such
assignment or assumption (other than the assignment or assumption of a Defaulted Equipment Loan) after giving effect to such assignment or assumption, the new Obligor and Eligible Loan would satisfy all of the criteria set forth in the definition of
Eligible Equipment Loan applicable to Obligors and (z) such Loan, after any such extension, rebate or adjustment, meets the definition of an Eligible Equipment Loan; provided, further, that subject to preceding clauses (x),
(y) and (z) and Section 3.07(c), any successor Servicer (other than an Affiliate of ALS) shall be authorized to grant extensions, rebates or adjustments without the consent of the Administrative Agent or the
Noteholders only to the extent it determines that such action is reasonably likely to prevent a payment event of default by the Obligor. The Servicer is authorized in its discretion to waive any prepayment charge, late payment charge or any other
fees that may be collected in the ordinary course of servicing such Loan; provided, however, that once the Servicer waives such fees, then such fee cannot be collected from the Designated Accounts, the Loan Lockbox Account or any other
source. To the extent provided for in any Loan, the Servicer shall make reasonable efforts to collect all payments with respect to amounts due for maintenance, taxes or assessments on the Equipment or the Loans and shall remit such amounts to the
appropriate maintenance provider or Governmental Authority on or prior to the date such payments are due.

SECTION 3.03 Prepayments.
The Servicer may accept the prepayment in part or in full of a Loan; provided, that in the event of Full Prepayment, the Servicer may consent to such Full Prepayment only if the amount thereof deposited into the Collection Account in
connection with such prepayment is not less than the then Loan Balance of, and all accrued and unpaid interest on, such Loan and all other amounts due and payable in connection therewith other than fees and charges that would otherwise be payable to
the Servicer pursuant to Section 8.2(c)(1) or Section 8.2(d)(1) of the Indenture; and provided further, that in the event of a Prepayment in part, the outstanding Loan Balance of such Loan is not reduced by more
than the amount of such Prepayment allocable to the payment of principal pursuant to Section 3.11.



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SECTION 3.04 Realization Upon Defaulted Equipment Loans. The Servicer shall use reasonable
efforts, consistent with the Loan Servicing Standards, to repossess, remarket or otherwise comparably convert the ownership of each item of Equipment and other collateral that it has reasonably determined should be repossessed or otherwise converted
following a default under the Loan secured by each such item of Equipment and other collateral. The Servicer is authorized to follow such practices, policies and procedures as it shall deem necessary or advisable and as shall be in accordance with
the Loan Servicing Standards to realize upon or obtain benefits of any Proceeds from any Insurance Policies and Proceeds from any Guaranties, in each case with respect to the Loans, selling the related Equipment and other collateral at public or
private sale or sales and other actions by the Servicer in order to realize upon such a Loan. The foregoing is subject to the provision that, in any case in which the Equipment shall have suffered damage, the Servicer shall not expend funds in
connection with any repair or towards the repossession of such Equipment unless it shall determine in its discretion consistent with the Loan Servicing Standards that such repair and/or repossession shall likely increase the Proceeds of liquidation
of the related Loan by an amount greater than the amount of such expenses. The Servicer shall be entitled to receive Liquidation Expenses with respect to each Defaulted Equipment Loan out of amounts that would otherwise comprise Liquidation Proceeds
with respect to the related Loan. The Servicer shall enforce any of the foregoing rights and remedies described in this Section 3.04 with respect to any Defaulted Equipment Loans that are cross collateralized by other loan obligations,
in the manner and priority specified in Section 5.1(k) of the Purchase Agreement. To the extent that an escrow account has been established by, or on behalf of an Obligor to cover defaults on contracts between such Obligor and the
Originator, amounts in such escrow account shall be applied against defaults under each such contract in the order that such defaults occur with respect to any such contract unless otherwise required by law, regulation or judicial order. The
Servicer shall not accelerate any Scheduled Payment unless permitted to do so by the terms of the Loan or under applicable law.

SECTION
3.05 Maintenance of Insurance Policies. The Servicer shall, except as specified in clause (q) of the definition of Eligible Equipment Loan, require that each Obligor shall have obtained physical damage insurance
covering each item of Equipment as of the execution of the related Loan. The Servicer shall, in accordance with the Loan Servicing Standards, monitor such physical damage insurance with respect to each item of Equipment that secures each Loan. The
Servicer shall remit to the Collection Account within two (2) Business Days of receipt all Insurance Proceeds received directly by the Servicer with respect to any Loan or Equipment subject thereto. Additionally, the Servicer shall maintain a
general liability policy in the amount of at least $1,000,000 per occurrence and at least $2,000,000 in the aggregate, and an excess liability insurance policy in umbrella form in the aggregate amount of at least $5,000,000. All premiums due and
payable for the term of the period in respect of such policies have been paid and shall continue to be paid promptly as such premiums become due. The Indenture Trustee, the Administrative Agent, the Issuer, the Transferor and the Noteholders shall
at all times while the Notes are outstanding be named as an additional insured or a primary insured on such casualty and liability policies maintained by the Servicer.

SECTION 3.06 Maintenance of Security Interests in Collateral. The Servicer shall, in accordance with the Loan Servicing Standards and at its own expense, take such steps as are necessary to maintain in favor of
the Indenture Trustee perfection of the first priority security interest in the Trust Estate (other than Exempt Collateral) including filings required because of



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revisions to the UCC. The Owner of each Loan hereby authorizes the Servicer to re-perfect such first priority security interest as necessary for any reason.
The Servicer shall file such continuation statements and any other documents reasonably requested by the Indenture Trustee or which may be required by law to fully preserve and protect the first priority perfected security interest of the Indenture
Trustee on behalf of the Beneficiaries in and to the Trust Estate other than Exempt Collateral. The Servicer shall use commercially reasonable efforts to enforce the obligations of the Obligors under the applicable loan documents to remove any Lien
on the Trust Estate of which the Servicer has actual knowledge or reason to have knowledge pursuant to the performance of its obligations as Servicer hereunder other than the Lien created pursuant to the Indenture.

SECTION 3.07 Covenants of the Servicer. The Servicer hereby makes the following covenants on which the Issuer, the Administrative Agent, the
Indenture Trustee and the Noteholders are relying in connection with the Issuer acquiring the Loans hereunder and issuing the Securities under the Basic Documents. The Servicer covenants that from and after the Closing Date:

(a) Liens in Force. Except as expressly provided in this Agreement, the Servicer shall not release in whole or in part any Lien on any collateral
securing any Loan or any Equipment or other collateral from the security interest securing such related Loan and shall use reasonable efforts not to permit any Liens to attach to the Trust Estate except those created under the Indenture.

(b) No Impairment. The Servicer shall not impair the rights of the Issuer or any Interested Party in and to any Loan and shall take no action
with respect to a Loan which at the time the Servicer reasonably believes would be contrary to the maximization of the ultimate repayment on such Loan.

(c) No Modifications. The Servicer shall not (i) amend or otherwise modify or grant rebates or adjustments on any Loan such that (A) the Loan Balance is decreased, (B) after such amendment,
modification, rebate or adjustment, the Equipment Loan Borrowing Base would be less than the Aggregate Equipment Loan Note Principal Balance, (C) the Loan no longer meets the definition of Eligible Equipment Loan or (ii) grant any
extension with respect to, or amend, any Scheduled Payment to extend or delay any payments of principal on any Loan which modification or amendment would extend the due date for the final Scheduled Payment on such Loan beyond six
(6) months prior to the Final Scheduled Distribution Date. Except as accounted for under clause (m) of the definition of Excess Loan Concentration Amount, the Servicer shall not amend or otherwise modify any Loan
more than once after its applicable Loan Cutoff Date.

(d) Contract Management System. The Servicer will, at its own cost and
expense, (A) retain the Contract Management System, or an alternative system of equal capability, used by the Servicer as a master record of the Loans and Receivables and (B) mark the Contract Management System to the effect that the Loans
and Receivables listed thereon have been conveyed to the Issuer pursuant to this Agreement and pledged by the Issuer pursuant to the Indenture to the Indenture Trustee for the benefit of the Beneficiaries.



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The Servicer will maintain accounts and records as to each Loan and Receivable serviced by the Servicer
that are accurate and sufficiently detailed to permit (i) the reader thereof to know as of the most recent Determination Date the status of such Loan or Receivable, including payments and recoveries made and payments owing (and the nature of
each), and (ii) reconciliation between payments or recoveries on (or with respect to) each Loan and Receivable and the amounts from time to time deposited in the Collection Account in respect of such Loan or Receivable.

(e) Compliance with Law. The Servicer will comply, in all material respects, with all acts, rules, regulations, orders, decrees and directions of
any Governmental Authority applicable to the Loans, the Receivables and the Equipment or any part thereof; provided, however, that the Servicer may contest any act, regulation, order, decree or direction in any reasonable manner that
shall not materially and adversely affect the rights of the Interested Parties in the Trust Estate; and provided, further, that such contests shall be in good faith by appropriate proceedings and shall not subject the Agents or the
Indenture Trustee to any civil or criminal liability or risk of loss of any collateral.

(f) Obligations with Respect to Loans and
Receivables. The Loans and Receivables shall impose no material obligation on the Originator or any successor or assignee. Without limiting the foregoing, as more specifically set forth in this Agreement, in performing its servicing duties
hereunder, the Servicer shall, in accordance with the Servicing Standards, collect all payments required to be made by the Obligors under the Loans and Receivables and enforce all material rights of the Issuer under the Loans and Receivables. The
Servicer shall not assign, sell, pledge, or exchange, or in any way encumber or otherwise dispose of the Equipment or other collateral securing the Loans, except as expressly permitted under this Agreement and the Indenture.

(g) No Ownership Interest. The Servicer does not have any ownership interest in the Trust Estate and, except for the purposes of commencing a
collection proceeding against an Obligor as provided in Section 3.01, will not assert any ownership interest in the Trust Estate.

(h) Collection Policies and Procedures. The Servicer shall not, without the prior written consent of the Administrative Agent (acting at the direction of the Special Required Noteholders), amend, modify or otherwise change its Credit
and Collection Policies in any manner unless such amendment, modification or change (i) applies generally to all contracts, loans or receivables serviced by the Servicer (and not just to Loans or Receivables in the Trust Estate) and
(ii) would not materially and adversely affect the Trust Estate or the ability of the Servicer to collect the Loans or Receivables or the minimum required credit quality of the Loans or Receivables consistent with the underwriting criteria of
ALS in the ordinary course of business. The Servicer shall provide at least five (5) Business Days prior written notice to the Administrative Agent and the Noteholders of any proposed material change to the Credit and Collection Policy.

(i) Financial Condition Covenants. For so long as any payments of principal or interest remain outstanding on the Notes or any
other amounts are owed to any Beneficiary, the Issuer or the Indenture Trustee under the Basic Documents, the Servicer shall, so long as ALS, any Affiliate thereof or any successor thereto pursuant to Section 8.02 is the Servicer,
maintain



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the following financial ratios (the Financial Condition Covenants) as specified in this Section 3.07. If the Credit Agreement
is in full force and effect, the Servicer shall not permit the Consolidated Leverage Ratio as at the last day of any period of four consecutive fiscal quarters of the Servicer ending with any fiscal quarter set forth below to exceed the ratio set
forth below opposite such fiscal quarter under the column entitled Consolidated Leverage Ratio:



|                               |  |                          
|------------------------------ |  | -------------------------
|Fiscal Period                  |  | ConsolidatedLeverageRatio
|June 30, 2009                  |  | 4.50 to 1.00             
|                               | 
|September 30, 2009             |  | 4.50 to 1.00             
|                               | 
|December 31, 2009              |  | 4.25 to 1.00             
|                               | 
|March 31, 2010                 |  | 4.25 to 1.00             
|                               | 
|June 30, 2010                  |  | 4.25 to 1.00             
|                               | 
|September 30, 2010             |  | 4.25 to 1.00             
|                               | 
|Each Fiscal Quarter thereafter |  | 4.00 to 1.00             

and;

If the Credit Agreement is in full force and effect, the Servicer shall not permit the Consolidated Interest Coverage Ratio for any period of four consecutive fiscal quarters of the Servicer ending with any fiscal quarter set forth below to
be less than the ratio set forth below opposite such fiscal quarter under the column entitled Consolidated Interest Coverage Ratio:



|                               |  |                                    
|------------------------------ |  | -----------------------------------
|Fiscal Period                  |  | Consolidated InterestCoverage Ratio
|June 30, 2009                  |  | 2.25 to 1.00                       
|                               | 
|September 30, 2009             |  | 2.25 to 1.00                       
|                               | 
|December 31, 2009              |  | 2.50 to 1.00                       
|                               | 
|March 31, 2010                 |  | 2.50 to 1.00                       
|                               | 
|June 30, 2010                  |  | 2.50 to 1.00                       
|                               | 
|September 30, 2010             |  | 2.50 to 1.00                       
|                               | 
|Each Fiscal Quarter thereafter |  | 2.75 to 1.00                       

In the event the Credit Agreement is replaced, the Servicer shall maintain (i) Consolidated
Leverage Ratios not more than, and (ii) Consolidated Interest Coverage Ratios no less than, in each case, the corresponding ratios set forth in such replacement facility (as amended), based on the same definitions used to calculate such ratios
as are set forth in such replacement facility (as amended). If, at any time, the Servicer has not entered into such a replacement facility or such replacement facility does not contain corresponding ratios, the Servicer shall maintain the above
Consolidated Leverage Ratios and the above Consolidated Interest Coverage Ratios required as if the Credit Agreement remained in full force and effect.



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(j) Final Distribution Date. The Servicer shall not amend, modify or otherwise
extend the final Distribution Date in respect of the Equipment Loans beyond the date which is the ninth (9th) anniversary of the Loan Conversion Date.

SECTION 3.08 Servicers Purchase of Loans or
Payments in Respect of Receivables Upon Breach of Covenant. (a) Upon discovery by any of the Administrative Agent, the Issuer, the Transferor, the Servicer or any party under the Transfer and Servicing Agreements of a breach of any of the
covenants set forth in Section 3.06 or Section 3.07(a), (b) or (c), the party discovering such breach shall give prompt written notice thereof to the other Persons set forth above. Unless such breach shall
have been waived by the Administrative Agent (acting at the direction of the Required Noteholders) or cured in all material respects, the Servicer shall purchase from the Owner thereof any Loan affected by such breach by depositing the
Administrative Purchase Payment in the Loan Collection Account by not later than the Determination Date immediately following the second Accounting Date after receipt of notice of such breach. It is understood and agreed that the obligation of the
Servicer to purchase any Loan with respect to which such a breach has occurred and is continuing shall, if such obligation is fulfilled, constitute the sole remedy against the Servicer for such breach available to the Transferor or any Interested
Party so long as the cumulative sum of the then Principal Balance of all Loans shall not exceed 4% of the sum of the Loan Balances of all Loans sold to the Trust on or after the Closing Date. Should the Servicers cumulative repurchases exceed
the 4% threshold described in the foregoing sentence, then the Transferor or any Interested Party shall be entitled to exercise any rights to which they are entitled pursuant to Section 9.02. Each of the Owner Trustee and the Indenture
Trustee shall have no affirmative duty to conduct any investigation as to the occurrence of any event requiring the repurchase of any Loan pursuant to this Section 3.08.

(b) If on any Business Day, either of the following conditions shall apply:

(A) the Servicer shall have breached its covenants set forth in Section 4.03(a) (no impairment) with respect to any Receivable
that was an Eligible Receivable on the Purchase Date on which it was transferred by the Originator to the Transferor; or

(B) the Servicer shall have breached its covenants set forth in Section 4.03(b) (limited modifications) with respect to any Receivable that was an Eligible Receivable on the Purchase Date on which it was transferred by the
Originator to the Transferor;

then, in either such instance, the Issuer shall be entitled to a credit (such credit, a Servicer Modification
Credit) in an amount equal to (i) in the case of clause (A) above, the Unpaid Balance on such Business Day of such non-conforming Receivable, and (ii) in the case of clause (B) above, the full amount of
such reduction, setoff or cancellation in the Unpaid Balance of such Receivable (the applicable amount set forth in clause (i) or (ii), the Servicer Modification Credit Amount). On each Purchase Date with
respect to Receivables and for so long as the Servicer is the sole owner of the Transferor, the Servicer Modification Credit Amount, if any, shall be reduced by the amount of the capital contributions made pursuant to Section 2.12(a)(ii)
of the Purchase Agreement and not previously applied to the Servicer Modification Credit



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Amounts. The Servicer may, at its option, at any time prior to the Receivables Conversion Date elect to remedy the events described in clause
(A) or (B) above by remitting to the Issuer cash in an amount equal to the unpaid Servicer Modification Credit Amount.

Notwithstanding the foregoing, the Servicer shall remit to the Issuer: (x) on the Receivables Conversion Date, cash in an amount equal to the sum of all then unpaid Servicer Modification Credit Amounts calculated as of the Receivables
Conversion Date and (y) on each Business Day after the Receivables Conversion Date, cash in an amount equal to all unpaid Servicer Modification Credit Amounts that result from events or conditions that occur or exist (or are discovered)
subsequent to the Receivables Conversion Date and with respect to which payment has not already been made pursuant to this sentence.

SECTION 3.09 Servicing Fees; Payment of Certain Expenses by Servicer. The Servicer is entitled to receive the Servicing Fee out of Collections (to the extent not waived by the Servicer) in respect of the Trust Estate as provided in
Section 8.2 of the Indenture. Subject to any limitations on the Servicers liability hereunder or as otherwise specifically provided herein, the Servicer shall be required to pay from its own funds all expenses incurred by it in
connection with its activities under this Agreement (including fees and disbursements of the Issuer, any trustees and independent accountants, taxes imposed on the Servicer, expenses incurred in connection with distributions and reports to the
Beneficiaries and the Registered Owners, the fees of the Indenture Trustee, the Backup Servicer, the Custodian and the Lockbox Bank, and all other fees and expenses not expressly stated under this Agreement to be for the account of the Beneficiaries
and the Registered Owners, but excluding federal, state and local income and franchise taxes, if any, of the Issuer, the Beneficiaries and the Registered Owners). Notwithstanding any of the foregoing, unless the Servicer has caused such loss through
its gross negligence, willful misconduct or bad faith, the Issuer shall reimburse the Servicer for any amounts paid by the Servicer to a Lockbox Bank, the Custodian or the Backup Servicer (in its capacity as such) as a result of an indemnity owed to
either such party by the Servicer pursuant to a Lockbox Agreement, the Custodial Agreement or the Backup Servicing Agreement, as applicable; provided that the Issuer shall be required to pay such reimbursement only to the extent that funds
are released to the Issuer in accordance with the priority of payments in Section 8.2 of the Indenture.

SECTION 3.10
Servicers Certificate. Not later than 11:00 a.m. (New York City time) on each Determination Date, the Servicer shall deliver to the Issuer, the Indenture Trustee, the initial Noteholders, the Administrative Agent and the Rating Agencies
a Servicers Certificate substantially in the form of Exhibit D with respect to the immediately preceding Monthly Period executed by the President or any of the Director, Financial Services, the Vice President/Chief Financial Officer or
the Treasurer of the initial Servicer or by an appropriate officer of any successor Servicer (or, if such Servicers Certificate is delivered electronically, such Servicers Certificate shall be deemed for all purposes to have been
certified by the Chief Financial Officer or similar officer), containing all information necessary to each such party for making the calculations, withdrawals, deposits, transfers and distributions required by Section 5.06 of this
Agreement and Section 8.2 of the Indenture, all information required to be provided to Registered Owners, the Administrative Agent and the Noteholders under Section 5.08(a) and the net amount of Servicer Modification Credits.
Loans to be purchased by the Servicer under Section 3.08 or to be repurchased by the Transferor or Originator under Section 2.12 or by ALS



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under the Purchase Agreement as of the last day of any Monthly Period shall be identified by Loan number (as set forth in the Schedule of Loans). With
respect to any Loans for which the Transferor, the Originator or ALS becomes the Owner, the Servicer shall deliver to the Transferor, the Originator or ALS such accountings relating to such Loans and the actions of the Servicer with respect thereto
as the Transferor, the Originator or ALS may reasonably request and at the expense of the requesting party.

SECTION 3.11 Application of
Collections. For the purposes of this Agreement, as of each Accounting Date, all payments by, or on behalf of, an Obligor received during a Monthly Period with respect to a Loan shall be applied by the Servicer (i) first, to any
unpaid Scheduled Payment for any prior Monthly Period with respect to such Loan, (ii) second, to the Scheduled Payment for such Monthly Period with respect to such Loan, (iii) third, to the payment of any late fees, rewrite
charges, and other related fees with respect to such Loan and (iv) fourth, the remainder shall constitute, with respect to such Loan, a Prepayment of principal of the Loan.

SECTION 3.12 Power of Attorney. The Servicer (other than a successor Servicer) and the Originator each irrevocably constitute and appoint the
Indenture Trustee, with full power of substitution, as their true and lawful attorney-in-fact with full irrevocable power and authority in the place and stead of the Servicer or the Originator, as applicable, and in the name of the Servicer or the
Originator, as applicable, or in its own name, for purposes of taking any and all appropriate action and executing any and all documents and instruments which may be necessary to accomplish either of the following:

(a) so long as an Event of Default, Rapid Amortization Event or Servicer Default has occurred and is continuing, at any time, for the purpose of carrying
out the terms of this Agreement in the name of the Servicer or its own name, or otherwise, to take possession of and indorse and collect any checks, drafts, notes, acceptances or other instrument, general intangible or contract or with respect to
any other collateral and to file any claim or to take any other action or proceeding in any court of law or equity or otherwise deemed appropriate by the Indenture Trustee or the Administrative Agent for the purpose of collecting any and all such
monies due under any account, instrument, general intangible or contract with respect to the Trust Estate; and

(b) whether or not an Event
of Default, Rapid Amortization Event or Servicer Default has occurred or is continuing, execute and deliver any and all agreements, instruments, documents and papers (including UCC financing statements) as the Indenture Trustee or the Administrative
Agent may reasonably request to perfect the Indenture Trustees security interest in the Trust Estate (other than Exempt Collateral).

SECTION 3.13 Backup Servicer. The Servicer shall retain a backup servicer (the Backup Servicer) designated by the Required Noteholders, which is reasonably acceptable to the Servicer to be the Backup Servicer for
the Equipment Loans and Receivables, who will agree to perform the services as may be agreed upon by the parties to the Backup Servicing Agreement pursuant to terms and conditions acceptable to the Required Noteholders; provided that for any
backup servicer that is appointed other than Lyon, the Servicer shall retain a backup servicer designated by the Special Required Noteholders, which is reasonably acceptable to the Servicer to be the Backup Servicer for the Equipment Loans and
Receivables, who will agree to perform the services as may be agreed upon by the parties to the Backup Servicing Agreement pursuant



19



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to the terms and conditions acceptable to the Special Required Noteholders. The initial Backup Servicer shall be Lyon and the Required Noteholders hereby
agree that the terms and conditions of the Backup Servicing Agreement entered into on the date hereof with Lyon is acceptable. The Servicer shall on or prior to the time set forth in the Backup Servicing Agreement send such Backup Servicer the
information required to be provided pursuant to the Backup Servicing Agreement. The fees and expenses of the Backup Servicer shall be paid by the Servicer from the Servicing Fee. To the extent the obligations of the Backup Servicer as Servicer under
this Agreement shall be expressly modified pursuant to the provisions of its Backup Servicing Agreement, such provisions shall modify the obligations of the Backup Servicer as Servicer under this Agreement.

SECTION 3.14 Schedule of Loans. Servicer shall maintain the Schedule of Loans, showing all Loans owned by the Issuer and whether those Loans are
Eligible Equipment Loans.

ARTICLE IV

ADMINISTRATION AND SERVICING OF RECEIVABLES

SECTION 4.01 Designation of the Servicer. The
servicing, administering and collection of the Receivables shall be conducted by the Person designated as the Servicer hereunder from time to time in accordance with this section. ALS is designated (and agrees to act) as the initial Servicer.

SECTION 4.02 Duties of the Servicer and Transferor.

(a) Duties of the Servicer in General. The Servicer shall service the Receivables and, subject to the terms and provisions of this Agreement, shall have full power and authority, acting alone or through
any sub-servicer permitted hereunder, to do any and all things in connection with such servicing that it may deem necessary or appropriate. The Indenture Trustee shall execute and deliver to the Servicer any instruments or documents that are
prepared by the Servicer and stated in an Officers Certificate to be, and shall furnish the Servicer with any documents in its possession, necessary or appropriate to enable the Servicer to carry out its servicing duties. The Servicer shall
manage, service, administer and make Collections on the Receivables with reasonable care, using no less than that degree of skill and attention that the Servicer would exercise and apply if it owned such Receivables and consistent with the
Receivables Credit and Collection Policy (collectively the Receivables Servicing Standards).

The Servicer shall
take all such actions as the Servicer deems necessary or appropriate to collect each Receivable, all in accordance with applicable law and the Receivables Credit and Collection Policy.

Without limiting the generality of the foregoing and subject to the preceding paragraph and Article VIII,the Servicer or its designee is
hereby authorized and empowered, unless such power and authority is revoked by the Indenture Trustee on account of the occurrence of a Servicer Default, (i) to instruct Indenture Trustee to make withdrawals and payments from the Designated
Accounts as set forth in this Agreement, (ii) to execute and deliver, on behalf of the Issuer for the benefit of the Beneficiaries, any and all instruments of satisfaction or cancellation,



20



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or of partial or full release or discharge, and all other comparable instruments, with respect to the Receivables, (iii) to make any filings, reports,
notices, applications and registrations with, and to seek any consents or authorizations from, the Securities and Exchange Commission, the Ontario Securities Commission and any state securities authority on behalf of the Issuer as may be necessary
or appropriate to comply with any federal or state securities laws or reporting requirements or other laws or regulations, and (iv) to the extent permitted under, and in compliance with, the Receivables Credit and Collection Policy and all
Applicable Law, to commence or settle collection proceedings with respect to the Receivables and otherwise to enforce the rights and interests of the Trust and the Registered Owners and the Beneficiaries in, to and under the Receivables. If in any
proceeding it is held that the Servicer may not enforce a Receivable on the grounds that it is not a real party in interest or a holder entitled to enforce the Receivable, the applicable Trustee shall, at the Servicers specific written
direction and expense, take such steps as shall be reasonably required to enforce the Receivable, including bringing suit in the name of such Person.

(b) Identification and Transfer of Collections. The Servicer shall direct the Lockbox Bank to transfer Collections of Receivables that consist of cash or cash equivalents to be deposited into the Collection
Account pursuant to the terms and provisions of the Basic Documents.

(c) [Reserved]

(d) Documents and Records. At any time when ALS is not Servicer, ALER, to the extent that it is entitled to do so under the Purchase Agreement,
shall, upon the request of the then-acting Servicer, cause the applicable Transferor to deliver to Servicer, and Servicer shall hold in trust for ALER and Indenture Trustee in accordance with their respective interests, all records that evidence or
relate to the Receivables originated by such Transferor and the contracts related to the Receivables, or that are otherwise necessary or desirable to collect the Receivables of the applicable Transferor, and Servicer shall make the same available to
the Indenture Trustee at one or more places selected by Trustee or its designee.

(e) Identification of Eligible Receivables. The
initial Servicer will include in each Servicers Certificate and Borrowing Base Certificate information that shows whether, and to what extent, the Receivables described in such Servicers Certificate and Borrowing Base Certificate, as the
case may be, are Eligible Receivables.

(f) Authorization to Act as Issuers Agent. Without limiting the generality of
subsection (a), with respect to the Receivables, the Issuer hereby appoints the Servicer as its agent for the following purposes: (i) specifying deposit accounts to which payments to the Issuer are to be made, (ii) making transfers
among, and deposits to and withdrawals from, all deposit accounts of the Issuer for the purposes described in the Basic Documents, and (iii) arranging payment by the Issuer of all fees, expenses and other amounts payable by the Issuer pursuant
to the Basic Documents. The Issuer irrevocably agrees that (i) it shall be bound by all actions taken by the Servicer pursuant to the preceding sentence, and (ii) Indenture Trustee and the banks holding all deposit accounts of the Issuer
are entitled to accept submissions, determinations, selections, specifications, transfers, deposits and withdrawal requests, and payments from the Servicer on behalf of the Issuer.



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(g) Schedule of Receivables. Servicer shall maintain the Schedule of Receivables, showing all
Receivables owned by the Issuer and whether those Receivables are Eligible Receivables.

SECTION 4.03 Covenants of the Servicer. The
Servicer hereby makes the following covenants on which the Issuer, the Administrative Agent, the Indenture Trustee and the Noteholders are relying in connection with the Issuer acquiring the Receivables hereunder and issuing the Securities under the
Basic Documents. The Servicer covenants that from and after the Closing Date:

(a) No Impairment. The Servicer shall not impair the
rights of the Issuer or any Interested Party in and to any Receivable and shall take no action with respect to a Receivable which at the time the Servicer reasonably believes would be contrary to the maximization of the ultimate payment of such
Receivable.

(b) Limited Modifications. Except (i) on account of Dilution or (ii) as is accounted for pursuant to
clause (m) of the term Excess Receivables Concentration Amount, the Servicer shall not amend, modify or waive the terms of any Receivable.

SECTION 4.04 Application of Collections. For the purposes of this Agreement, as of each Accounting Date, unless the Obligor shall have otherwise specified pursuant to specific instructions, all payments
received from, or on behalf of, an Obligor during a Monthly Period with respect to a Receivable shall be applied by the Servicer (i) first, to any unpaid payment for any prior Monthly Period with respect to such Receivable,
(ii) second, to the current payment for such Monthly Period with respect to such Receivable and (iii) third, to the payment of any late fees, and other related fees with respect to such Receivable.

ARTICLE V

SERVICERS
COVENANTS; DISTRIBUTIONS;

STATEMENTS TO BENEFICIARIES

SECTION 5.01 Annual Statement as to Compliance: Notice of Servicer Default.

(a) The Servicer shall deliver to each Trustee and the Administrative Agent (with a copy to the Noteholders), on or before April 15 of each year,
beginning April 15, 2010, an officers certificate signed by an Executive Officer of the initial Servicer (or by an appropriate officer of any successor Servicer), dated as of the immediately preceding December 31, stating that
(i) a review of the activities of the Servicer during the preceding twelve (12) month period (or, with respect to the first such certificate, such period as shall have elapsed from the Closing Date to December 31, 2009) and of its
performance under this Agreement has been made under such officers supervision and (ii) to the best of such officers knowledge, based on such review, the Servicer has fulfilled its obligations under this Agreement in all material
respects throughout such period, or, if there has been a default in the fulfillment of any such obligation, specifying each such default known to such officer and the nature and status thereof. A copy of such certificate may be obtained by any
Noteholder or any Registered Owner by a request in writing to the Issuer addressed to the Corporate Trust Office of the Indenture Trustee or the Owner Trustee, respectively.



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(b) The Servicer shall deliver to each Trustee, the Administrative Agent and the Rating Agencies (with a
copy to the Noteholders), promptly after having obtained knowledge thereof, but in no event later than (2) two Business Days thereafter, written notice in an officers certificate signed by an Executive Officer of the Servicer of any
Servicer Default or event which with the giving of notice or lapse of time, or both, would become a Servicer Default under Section 9.01. Such notice shall describe the nature and period of existence of such event and the action, if any,
the Servicer is taking or proposes to take with respect thereto.

SECTION 5.02 Annual Independent Accountants Report.

(a) The Servicer shall, at its own expense, cause a firm of independent accountants, who may also render other services to the Servicer or
the Transferor, to deliver to each Trustee, the Administrative Agent and the Rating Agencies (with a copy to the Noteholders), on or before April 15 of each year, beginning April 15, 2010, with respect to the twelve (12) months ended
on the immediately preceding December 31 (or, with respect to the first such report, such period as shall have elapsed from the Closing Date to December 31, 2009), a report (the Accountants Report) addressed to the
board of directors of the Servicer and to each Trustee and the Administrative Agent, to the effect that such firm has reviewed the Servicers performance of its obligations under this Agreement and issued its report thereon and that
(A) such Accountants Report was made in accordance with generally accepted auditing standards, (B) such Accountants Report included tests relating to Loans and the Receivables serviced for others in accordance with the
requirements of the Uniform Single Audit Program for Mortgage Bankers (the Program), to the extent the procedures in the Program are applicable to the servicing obligations set forth in this Agreement, (C) such
Accountants Report included the results of the procedures set forth on Exhibit G (which procedures, (i) prior to the occurrence of a Rapid Amortization Event or an Event of Default, shall be subject to the Administrative
Agents and each Noteholders review and right to expand or modify such procedures so long as such expansion or modification does not result in a material increase in accounting cost to ALS, unless ALS shall consent thereto (such consent
not to be unreasonably withheld), and (ii) following the occurrence of a Rapid Amortization Event or an Event of Default, shall be subject to the Administrative Agents and each Noteholders review and right to expand or modify such
procedures as the Administrative and the Noteholders deem appropriate in their reasonable discretion) and (D) except as described in the Accountants Report, disclosed no exceptions or errors in the records relating to equipment notes or
receivables serviced for others that, in the firms opinion, paragraph four of the Program requires such firm to report.

(b) The
Accountants Report shall also indicate that the firm is independent of the Transferor, the Servicer and ALH within the meaning of the Code of Professional Ethics of the American Institute of Certified Public Accountants.



23



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(c) For so long as ALS or any of its Affiliates is the Servicer, Servicer shall deliver to the Indenture
Trustee and the Agents:

(i) as soon as publicly available and in any event by the Reporting Date after the end of each of
the first three (3) quarterly fiscal periods of each fiscal year of ALH, the unaudited consolidated balance sheet of ALH and its consolidated Subsidiaries as at the end of such period and the related unaudited consolidated statement of income
and cash flows for ALH and its consolidated Subsidiaries for such period and the portion of the fiscal year through the end of such period, accompanied by a certificate of an Authorized Officer of ALH, which certificate shall state that said
consolidated financial statements fairly present the consolidated financial condition and results of operations ALH and its Subsidiaries in accordance with GAAP, consistently applied, as at the end of, and for, such period (subject to normal fiscal
year-end audit adjustments and the omission of footnotes);

(ii) as soon as publicly available and in any event by the
Reporting Date after the end of each fiscal year of ALH, the consolidated balance sheet of ALH and its consolidated Subsidiaries as at the end of such fiscal year and the related consolidated statement of income and cash flows for ALH and its
consolidated Subsidiaries for such year, accompanied by an opinion thereon of independent certified public accountants of recognized national standing which opinion shall not be qualified as to scope of audit or going concern and shall state that
said consolidated financial statements fairly present the consolidated financial condition and results of operations of ALH and its consolidated Subsidiaries as at the end of, and for, such fiscal year in accordance with GAAP; and

(iii) promptly upon transmission or receipt thereof, copies of any filings and registrations with, and reports to or from, the Securities
and Exchange Commission (or the Ontario Securities Commission, as applicable) or any national securities exchange, or any successor agency, and copies of all proxy statements, and material notices, if any, and reports (including compliance
certificates and financial reports) as ALH or any of its Subsidiaries shall send to its equity holders generally or to a holder of any indenture, note or other indebtedness owed by ALH or any of its Subsidiaries.

(d) Each of the Servicer and the Transferor will furnish to the Issuer and the Agents such other information (including non-financial information and
information regarding the financial condition, operations or business of ALH) as such Persons (or any of their respective assignees) may from time to time reasonably request. Each of the Servicer and the Transferor will furnish to the Backup
Servicer such other information relating to the Conveyed Assets or the performance of the Backup Servicers obligations under the Basic Documents, as the Backup Servicer may from time to time reasonably request.

SECTION 5.03 Access to Certain Documentation and Information Regarding Loans and Receivables.

(a) The Servicer shall provide to the Agents, initial Noteholders (so long as they are Noteholders), the Issuer, the Indenture Trustee and each of their
respective representatives, attorneys and accountants access (as described below) to the documentation regarding the Loans and Receivables as described below. The Servicer shall provide such access to any other Noteholder only in such cases where a
Noteholder is required by applicable statutes or regulations to review such documentation, and then, if permitted by law, only upon receipt by it



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of a confidentiality agreement reasonably acceptable to it and such Noteholder restricting the Noteholders use of any proprietary information of the
Servicer made available to the Noteholder in connection with such review. In each case, such access shall be afforded without charge but only upon reasonable request and during normal business hours at offices of the Servicer designated by the
Servicer. The failure of the Servicer to provide access as provided in this Section 5.03, because the Servicer reasonably believes access would violate applicable law with respect to disclosure shall not constitute a breach of this
Section 5.03.

(b) At all times during the term hereof, the Servicer shall maintain electronic facilities which allow the Loan
Schedule and a reconciliation of the Loan Schedule to the list of Initial Loans to be generated in a readable form which can be accessed by the Issuer, the Indenture Trustee, the Backup Servicer and each of their respective representatives,
attorneys or accountants (it being agreed that information in ASCII or Excel are acceptable forms).

(c) The Servicer shall maintain and
implement administrative and operating procedures (including an ability to generate duplicates of Records evidencing Receivables in the event of the destruction of the originals thereof), and shall keep and maintain all documents, books, records and
other information that the Servicer deems reasonably necessary for the collection of all Receivables.

SECTION 5.04 Amendments to Loans
and to Schedule of Loans. If the Servicer, during a Monthly Period, assigns to a Loan an account number that differs from the account number previously identifying such Loan on the Schedule of Loans, the Servicer shall deliver to the Transferor,
the Backup Servicer, the Administrative Agent and each Trustee on or before the Distribution Date related to such Monthly Period an amendment to the Schedule of Loans to report the newly assigned account number. Each such amendment shall list all
new account numbers assigned to Loans during such Monthly Period and shall show by cross reference the prior account numbers identifying such Loans on the Schedule of Loans. The Servicer shall amend the Schedule of Loans, as appropriate, to reflect
(x) the removal of repaid Loans, substituted Loans, Administrative Loans, Warranty Loans, Defaulted Equipment Loans and Loans which have been liquidated in accordance with the Loan Servicing Standards and (y) the addition of Loans and
shall deliver an updated Schedule of Loans to the Administrative Agent, the Backup Servicer, the Transferor and each Trustee on each Distribution Date.

SECTION 5.05 Assignment of Administrative Loans, Warranty Loans. Upon deposit into the Loan Collection Account of an Administrative Purchase Payment or a Warranty Payment with respect to an Administrative Loan
or Warranty Loan, respectively, or upon the substitution of a Substitute Loan for a Warranty Loan and provided that such purchase or substitution of a Loan shall otherwise have been made in full compliance with the provisions of the Basic Documents,
each Trustee shall assign, without recourse, representation or warranty, to the Servicer or the Warranty Purchaser, as applicable, all of such Persons right, title and interest in, to and under, with respect to the Administrative Loan or
Warranty Loan, (i) such Administrative Loan or Warranty Loan and all monies due thereon, (ii) the security interests in the related collateral, (iii) amounts held on deposit in the Designated Accounts or the Loan Lockbox Account with
respect to such Loan and not applied to the Loan Balance as of the applicable Accounting Date, if any, (iv) Proceeds from any Insurance Policies with respect to the collateral securing such Loan or any Guaranties of such Loan received after the
applicable



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Accounting Date, if any, and (v) the rights of such Person under the Purchase Agreement with respect to such Loan, such assignment being an assignment
outright and not for security. Upon the assignment of such Loan described in the preceding sentence, the Servicer, the Warranty Purchaser or the Transferor, as applicable, shall own such Loan and all such security and documents, free of any further
obligations to the Indenture Trustee or the Beneficiaries and the Certificateholders with respect thereto.

SECTION 5.06
Distributions. On or before each Determination Date, with respect to the preceding Monthly Period and the related Distribution Date, the Servicer shall calculate each of the amounts required to be distributed or drawn from the Reserve
Account, the Equipment Loan Collection Account and/or the Receivables Collection Account (including the Carrying Cost Reserve), as applicable, on the next succeeding Distribution Date.

SECTION 5.07 No Set-off. ALS shall not be permitted to offset against any Collections any amounts owed to ALS by the Issuer or the Transferor.

SECTION 5.08 Reporting.

(a) On each Distribution Date, the Owner Trustee shall include with each distribution to each Registered Owner, and the Indenture Trustee shall include with each distribution to each Noteholder, a copy of the Servicers Certificate
furnished pursuant to Section 3.10.

(b) Within the prescribed period of time for tax reporting purposes after the end of each
calendar year during the term of this Agreement, the Servicer shall prepare and execute and the Indenture Trustee and the Owner Trustee shall mail to each Person who at any time during such calendar year shall have been a holder of Notes or
Certificates, respectively, and received any payments thereon, a statement prepared and supplied by the Servicer containing the sum of the amount of interest and principal paid to such Person for such calendar year or, if such Person shall have been
a Securityholder during a portion of such calendar year and received any payments thereon, for the applicable portion of such year, for the purposes of such Securityholders preparation of federal income tax returns.

SECTION 5.09 Information Provided to Rating Agencies. In addition to receiving any information or documents required to be delivered to any Rating
Agency pursuant to any Basic Document, each Rating Agency and the Administrative Agent may request in writing to the Servicer, and the Servicer shall deliver, reasonable additional information necessary to the Rating Agencies and the Administrative
Agent to monitor the Notes. Promptly, but in no event later than two (2) Business Days, after obtaining knowledge of an Insolvency Event with respect to the Servicer, the Transferor or the Trust, the Servicer shall deliver to each of the Rating
Agencies and the Administrative Agent notice of such Insolvency Event.



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ARTICLE VI

LOCKBOXES, ACCOUNTS; COLLECTIONS, DEPOSITS AND

INVESTMENTS; ADVANCES

SECTION 6.01 Loan Lockbox Account.

(a) The Servicer, for the benefit of the Beneficiaries shall establish and maintain in the name of the Indenture Trustee and under the Indenture Trustees sole dominion and control an Eligible Deposit Account known as the Alliance
Laundry Equipment Receivables Trust 2009-A Loan Lockbox Account (the Loan Lockbox Account) bearing an additional designation clearly indicating that the funds deposited therein are held for the benefit of the Indenture Trustee on
behalf of the Beneficiaries.

(b) Prior to the date on which any Loan is transferred to the Trust, the Servicer shall direct each of the
Obligors under such Loan to make all Scheduled Payments and other payments under such Loan or otherwise in connection with the Trust Estate, including any and all payments of late fees, directly to the Loan Lockbox Account in the name of the
Indenture Trustee. In the event that any Servicer resigns or is replaced, then, if the place for payment of amounts owing by an Obligor with respect to any Loan is changed, the successor Servicer shall give each related Obligor prompt written notice
of its appointment and the revised address to which such Obligor should make payment to each such Loan.

(c) The Servicer shall at all
times direct each obligor which is not an Obligor of Loans held by the Issuer, to make all payments to an address other than the Loan Lockbox. So long as no Servicer Default is continuing, the Servicer is hereby expressly authorized and empowered to
request that the Indenture Trustee return to it from the Loan Collection Account any payment received and deposited into the Loan Collection Account which is not a payment with respect to the Loans, the Receivables or the Trust Estate. The Servicer
shall certify in writing to the Indenture Trustee that such request is pursuant to this Section 6.01(c) and such request shall be accompanied by appropriate documentation in form and substance satisfactory to the Indenture Trustee. Any
amounts deposited into the Loan Lockbox Account shall not be removed by the Servicer.

(d) The Servicer and the Indenture Trustee shall
direct the Lockbox Bank to transfer by wire transfer of immediately available funds on each Business Day all available amounts in the Loan Lockbox Account to the Loan Collection Account. The Servicers Certificate shall specify the amounts
transferred into the Loan Collection Account with respect to the immediately preceding Monthly Period.

(e) The parties hereto agree that,
in the event (i) none of ALS, an affiliate of ALS or a successor to ALS pursuant to Section 8.02 is the Servicer or (ii) any Rating Agency has indicated that maintenance of the Lockboxes or the Lockbox Accounts with the then
current Lockbox Bank could result in a downgrading of the Notes, the Servicer shall, at the request of the Administrative Agent, designate a new Lockbox Bank acceptable to the Administrative Agent and shall promptly thereafter (A) establish new
Lockboxes and Lockbox Accounts in the name and under the sole dominion and control of the Indenture Trustee with such new Lockbox Bank, (B) instruct all Obligors to make payments under the Loans or otherwise in connection with the Trust Estate
directly to such new Loan Lockbox, and (iii) enter into a Lockbox Agreement with such new Lockbox Bank satisfactory to the Administrative Agent. In such event, the Indenture Trustee shall promptly send a termination notice to the existing
Lockbox Bank to terminate the Lockbox Agreement with the existing Lockbox Bank following receipt of an instruction to such effect from the Administrative Agent.



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SECTION 6.02 Receivables Lockbox Accounts.

(a) The Servicer, for the benefit of the Beneficiaries shall establish and maintain in the name of the Indenture Trustee under the Indenture
Trustees sole dominion and control (i) with respect to the Domestic Receivables, an Eligible Deposit Account known as the Alliance Laundry Equipment Receivables Trust 2009-A Domestic Receivables Lockbox Account (the Domestic
Receivables Lockbox Account) and (ii) with respect to the Foreign Receivables, an Eligible Deposit Account known as the Alliance Laundry Equipment Receivables Trust 2009-A Foreign Receivables Lockbox Account (the Foreign
Receivables Lockbox Account), each Receivables Lockbox Account bearing an additional designation clearly indicating that the funds deposited therein are held for the benefit of the Indenture Trustee on behalf of the Beneficiaries.

(b) Prior to the date on which any Receivable is transferred to the Trust, the Servicer shall direct each of the Obligors under such
Receivable to make all payments under such Receivable or otherwise in connection with the Trust Estate, including any and all payments of late fees, directly to the Receivables Lockboxes in the name of the Indenture Trustee. In the event that any
Servicer resigns or is replaced, then if the place for payment pursuant to any Receivable is changed, the successor Servicer shall give each related Obligor prompt written notice of its appointment and the address, if not the Receivables Lockboxes,
to which such Obligor should make payments to each such Receivable.

(c) So long as no Servicer Default is continuing, the Servicer is
hereby expressly authorized and empowered to request the Indenture Trustee to return to it from the Receivables Collection Account any payment received and deposited into the Receivables Collection Account which is not a payment with respect to the
Receivables, the Loans or the Trust Estate. The Servicer shall certify in writing to the Indenture Trustee that such withdrawal is pursuant to this Section 6.02(c) and such request shall be accompanied by appropriate documentation in
form and substance satisfactory to the Indenture Trustee. Any amounts transferred into the Receivables Lockbox Account shall not be removed by the Servicer.

(d) The Servicer and the Indenture Trustee shall direct the Lockbox Bank to transfer by wire transfer of immediately available funds all available amounts on each Business Day in the Receivables Lockbox Accounts to
the Receivables Collection Account. The Servicers Certificate shall specify the amounts transferred into the Receivables Collection Account with respect to the immediately preceding Monthly Period.

SECTION 6.03 Loan Collection Account.

(a) Prior to the Closing Date, the Servicer, for the benefit of the Beneficiaries shall establish and maintain in the name of the Indenture Trustee and under the Indenture Trustees sole dominion and control an Eligible Deposit Account
known as the Alliance Laundry Equipment Receivables Trust 2009-A Loan Collection Account (the Loan Collection Account), bearing an additional designation clearly indicating that the funds deposited therein are held for the benefit
of the Beneficiaries.



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(b) On each Distribution Date, the Indenture Trustee shall withdraw funds from the Loan Collection
Account in the amounts specified in the Indenture and make the distributions required by Section 8.2 of the Indenture.

SECTION
6.04 Receivables Collection Account.

(a) Prior to the Closing Date, the Servicer, for the benefit of the Beneficiaries, shall
establish and maintain in the name of the Indenture Trustee and under the Indenture Trustees sole dominion and control an Eligible Deposit Account known as the Alliance Laundry Equipment Receivables Trust 2009-A Receivables Collection Account
(the Receivables Collection Account), bearing an additional designation clearly indicating that the funds deposited therein are held for the benefit of the Beneficiaries.

(b) On each Business Day, the Indenture Trustee, at the direction of the Servicer, shall confirm the amount of funds collected on the Receivables in the
Receivables Collection Account. On the Closing Date and, prior to the occurrence of a Rapid Amortization Event or Event of Default (unless at such time there are no outstanding amounts owed in respect of principal of, interest on or fees or other
indemnities in respect of the Receivables Notes), (i) on each Receivables Borrowing Date thereafter after giving effect to any Advances on such Receivables Borrowing Date, and (ii) in the Servicers Certificate for each Distribution
Date, the Servicer shall calculate and report the Purchasers Interest and the Transferors Interest and such calculations shall remain in effect until the earliest to occur of (x) the next Receivables Borrowing Date, (y) the
delivery of the next Servicers Certificate for the applicable Distribution Date or (z) the occurrence of a Rapid Amortization Event or an Event of Default. So long as a Rapid Amortization Event or an Event of Default has occurred and is
continuing, the Purchasers Interest shall be 100% and the Transferors Interest shall be 0%. Funds allocated to the Purchasers Interest and the Transferors Interest shall be deposited into the Receivables Collection Account
and applied pursuant to Section 6.04(d).

(c) [Reserved]

(d) On each Business Day, an amount equal to the Daily Carrying Costs for such Business Day will be retained in the Receivables Collection Account,
funded from that portion of Collections received in the Receivables Collection Account on such Business Day. On each Business Day, the excess of (x) the amount then on deposit in the Receivables Collection Account over (y) the Daily
Carrying Costs will be distributed by the Indenture Trustee in accordance with Section 8.2(e) of the Indenture. On each Distribution Date, the Indenture Trustee shall withdraw funds that have been retained in the Receivables Collection Account
in accordance with the preceding sentences of this Section 6.04(d) (the total amount of such funds on deposit in the Receivables Collection Account as of any given date, the Carrying Cost Reserve), in the amounts
specified in the Indenture and make the distributions required by Section 8.2(f) of the Indenture. Notwithstanding the foregoing, at such time after the Receivables Conversion Date as there are no outstanding amounts owed in respect of
principal of, interest on or fees or other indemnities in respect of the Receivables Notes and no Rapid Amortization or Event of Default has occurred which is continuing, all amounts on deposit in the Receivables Collection Account shall be
distributed by the Indenture Trustee as required by Clause (2) of Section 8.2(e)(i) of the Indenture.



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(e) Following notification from the Lockbox Bank that an item received therein has been returned or is
uncollected and that the Lockbox Bank has not been otherwise reimbursed pursuant to the terms of the Lockbox Agreement for any such amounts, the Servicer shall instruct Indenture Trustee in writing to, and the Indenture Trustee shall turn over to
such Lockbox Bank, funds in such amount from funds then on deposit in the Receivables Collection Account.

SECTION 6.05 Reserve
Account.

(a) Prior to the Closing Date, the Servicer, for the benefit of the Beneficiaries, shall establish and maintain in the name of
the Indenture Trustee and subject to the sole dominion and control of the Indenture Trustee an Eligible Deposit Account known as the Alliance Laundry Equipment Receivables Trust 2009-A Reserve Account (the Reserve Account) to
include the money and other property deposited and held therein (including any required Ineligible Cap Reserve) pursuant to this Section 6.05 and Section 8.2 of the Indenture. On the Closing Date, the Transferor shall deposit into
the Reserve Account funds in an amount equal to three million two hundred thirty five thousand nine hundred thirteen dollars and thirty four cents ($3,235,913.34).

(b) If on any Distribution Date the amount on deposit in the Reserve Account (after giving effect to all deposits therein or withdrawals therefrom on such Distribution Date) exceeds the Reserve Account Required Amount
for such Distribution Date, the Servicer shall instruct the Indenture Trustee to deposit such excess into the corresponding Collection Accounts and shall be deemed Available Amounts at the times and in the amounts determined under the Indenture.

SECTION 6.06 Transfers Between Accounts.

So long as no Servicer Default is continuing, the Servicer is hereby expressly authorized and empowered to direct the Indenture Trustee to transfer funds between the Collection Accounts to the extent of funds
deposited in such accounts in error and such direction shall be accompanied by appropriate documentation in form and substance satisfactory to the Indenture Trustee.

SECTION 6.07 The Designated Accounts; Control of Designated Accounts.

(a) Each of the Designated
Accounts shall be initially established with the Indenture Trustee and shall be maintained with the Indenture Trustee and shall be under its sole dominion and control so long as (A) the short-term unsecured debt obligations of the Indenture
Trustee have the Required Deposit Rating or (B) each of the Designated Accounts are maintained in the corporate trust department of the Indenture Trustee. All amounts held in such accounts (including amounts which the Servicer is required to
remit daily to the Collection Accounts pursuant to Section 6.08) shall, to the extent permitted by applicable laws, rules and regulations, be invested, at the written direction of the Servicer, by such bank or trust company in Eligible
Investments. Such written direction shall constitute certification by the Servicer that any such investment is authorized by this Section 6.07. Funds deposited in the Loan Collection Account, the Receivables Collection Account and
Reserve Account shall be invested in Eligible Investments that mature prior to the next Distribution Date except, and then only to the extent, as shall be otherwise permitted by the Required Noteholders. Investments in Eligible Investments shall be
made in the name of the Indenture Trustee or its nominee, and such investments shall not



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be sold or disposed of prior to their maturity. Should the short-term unsecured debt obligations of the Indenture Trustee (or any other bank or trust company
with which the Designated Accounts are maintained) no longer have the Required Deposit Rating, then the Servicer shall within twenty (20) Business Days (or such longer period as to which the Administrative Agent (acting at the direction of the
Required Noteholders) shall consent), with the Indenture Trustees assistance as necessary, cause the Designated Accounts (A) to be moved to a bank or trust company, the short-term unsecured debt obligations of which shall have the
Required Deposit Rating and which is otherwise acceptable to the Administrative Agent (acting at the direction of the Required Noteholders), or (B) to be moved to the corporate trust department of the Indenture Trustee.

(b) Each of the Lockbox Accounts shall at all times be subject to the respective Lockbox Agreement, and each of the Loan Collection Account, Receivables
Collection Account and the Reserve Account shall at all times be subject to a control agreement (the Control Agreement) substantially in the form of Exhibit E.

SECTION 6.08 Collections. Notwithstanding the Servicers notice to each Obligor pursuant to Section 6.02(b), the Servicer shall
remit or shall cause to be remitted to the Lockbox Accounts, the Loan Collection Account or the Receivables Collection Account, as applicable, within two (2) Business Days after receipt all payments by, or on behalf of, the Obligors on the
Loans or the Receivables, including all Insurance Proceeds, Liquidation Proceeds and Proceeds from any Guaranties, that were received directly by the Servicer, the Issuer or any of their respective Affiliates; provided, however, that
up to Three Hundred Thousand Dollars ($300,000) of such payments and Proceeds deposited to a lockbox account associated with another financing facility in a calendar month may be remitted to the appropriate Collection Account on a later date which
is no later than the last day of the calendar month in which they were received. Until such amounts are so remitted, the Servicer shall (or shall cause such recipient to) segregate such payments and hold such payments in trust for Indenture Trustee.
Based upon the amounts set forth in the Servicers Certificate or the daily report of the Indenture Trustee delivered pursuant to Section 7.3 of the Indenture, as the case may be, the Servicer shall direct the Indenture Trustee to
distribute the Available Amounts in the appropriate Collection Accounts (and the Reserve Account, if applicable) according to the priority of payments set forth in Section 8.2 of the Indenture.

SECTION 6.09 Investment Earnings. Investment Earnings on the Designated Accounts and any available Investment Earnings on the Lockbox Accounts
shall be deposited in the corresponding Collection Accounts and shall be deemed to be Available Amounts.

SECTION 6.10 Servicer
Advances. As of each Accounting Date, if the payments during the related Monthly Period by or on behalf of the Obligor on a Loan (other than an Administrative Loan, a Warranty Loan or a Defaulted Equipment Loan) after application under
Section 3.11 shall be less than the Scheduled Payment then the Servicer shall, if in its sole discretion it deems the shortfall recoverable, advance from its own funds any such shortfall (such amounts, a Servicer Advance). In
addition, the Servicer shall be required to advance the amount of any fees paid to the Lockbox Banks by setoff against amounts in the Lockbox Accounts pursuant to the Lockbox Agreements. The Servicer shall receive Servicer Advance Reimbursement
Amounts pursuant to Section 8.2 of the Indenture.



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SECTION 6.11 Additional Deposits. Servicer Advances pursuant to Section 6.10 and the
Proceeds of Administrative Purchase Payments and the Warranty Payments with respect to Administrative Loans and Warranty Loans, respectively, shall be deposited into the Collection Accounts. All such deposits with respect to a Monthly Period shall
be made in immediately available funds one (1) Business Day prior to the Distribution Date related to such Monthly Period.

SECTION
6.12 Yield Supplement Account.

(a) Prior to the first Distribution Date, the Servicer, for the benefit of the Beneficiaries, shall
establish and maintain in the name of the Indenture Trustee and subject to the sole dominion and control of the Indenture Trustee an Eligible Deposit Account known as the Alliance Laundry Equipment Receivables Trust 2009-A Yield Supplement Account
(the Yield Supplement Account) to include the money and other property deposited and held therein pursuant to this Section 6.12 and Section 8.2 of the Indenture. On the first Distribution Date, the Transferor
shall deposit into the Yield Supplement Account funds in an amount determined under Section 8.2 of the Indenture.

(b) If on any
Distribution Date the amount on deposit in the Yield Supplement Account (after giving effect to all deposits therein or withdrawals therefrom on such Distribution Date) exceeds the Yield Supplement Required Amount for such Distribution Date, the
Servicer shall instruct the Indenture Trustee to deposit such excess into the corresponding Collection Accounts and shall be deemed Available Amounts at the times and in the amounts determined under the Indenture.

ARTICLE VII

REPRESENTATIONS AND

WARRANTIES OF THE TRANSFEROR,

ORIGINATOR, SELLER, ISSUER AND THE SERVICER

SECTION 7.01 Representations and Warranties of the Transferor, Originator,
Seller, Issuer and the Servicer. The Transferor, the Originator, the Issuer and the Servicer, in its capacity as such, each makes the following representations and warranties as to itself on which the Issuer is relying in acquiring the Loans and
Receivables hereunder and issuing the Securities under the other Transfer and Servicing Agreements and for the benefit of the Indenture Trustee, the Agents and the Noteholders. The following representations and warranties are made severally by each
of the Transferor, the Originator, the Servicer and the Issuer (for purposes of this Section 7.01, each, a Party) and, unless otherwise specified, are made as of the Closing Date and each Purchase Date (in each case
with respect to the Second Tier Purchased Assets, to such assets acquired on such date) but shall survive the sale, transfer and assignment of the Loans to the Issuer and the pledge thereof to the Indenture Trustee pursuant to the Indenture, until
the Indenture is terminated in accordance with its terms; provided that to the extent such representations and warranties relate to the Receivables and the Related Assets with respect thereto, such representations and warranties shall survive only
until the Receivables Payoff Date.



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(a) Representations and Warranties as to each Party.

(i) Organization and Good Standing. Such Party has been duly organized and is validly existing as a limited liability company (with
respect to the Issuer, a Delaware statutory trust) in good standing under the laws of the State of Delaware, with power and authority to own its properties and to conduct its business as such properties are presently owned and such business is
presently conducted, and had at all relevant times, and now has, power, authority and legal right (A) in the case of the Transferor, to acquire, own and sell the Loans and Receivables and (B) in the case of the Servicer, to service the
Loans and Receivables as provided in this Agreement.

(ii) Due Qualification. Such Party is duly qualified to do
business as a foreign limited liability company (with respect to the Issuer, a foreign statutory trust) in good standing, and has obtained all necessary licenses and approvals in all jurisdictions in which the ownership or lease of property or the
conduct of its business (including, in the case of the Servicer, the servicing of the Loans and Receivables as required by this Agreement) requires or shall require such qualification.

(iii) Power and Authority. Such Party (A) has the power and authority to execute and deliver the Basic Documents to which it
is a party (as used in this Section 7.01(a), the applicable Basic Documents) and to carry out the respective terms of such agreements, (B) in the case of the Transferor, has the power and authority to sell and
assign the property to be sold and assigned to and deposited with the Issuer as part of the Owner Trust Estate and has duly authorized such sale and assignment to the Issuer by all necessary limited liability company action, and (C) in the case
of the Originator, has the power and authority to sell and assign the property to be sold and assigned to the Transferor and has duly authorized such sale and assignment to the Transferor by all necessary limited liability company action; and the
execution, delivery and performance by such Party of the applicable Basic Documents have been duly authorized by such Party by all necessary limited liability company (with respect to the Issuer, statutory trust) action.

(iv) Binding Obligations. The applicable Basic Documents, when duly executed and delivered, shall constitute a legal, valid and
binding obligation of such Party enforceable against such Party in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization or other similar laws affecting the enforcement of
creditors rights in general and by general principles of equity, regardless of whether such enforceability is considered in a proceeding in equity or at law.

(v) No Violation. The consummation by such Party of the transactions contemplated by the applicable Basic Documents and the
fulfillment of the terms of such agreements by such Party shall not conflict with, result in any breach of any of the terms and provisions of or constitute (with or without notice or lapse of time) a default under, the limited liability company
agreement (with respect to the Issuer, trust agreement) of such Party, or any indenture, agreement or other instrument to which such Party is a party or by which it is bound, or result in the creation or imposition of any Lien upon any of its
properties pursuant to the terms of any such indenture, agreement or other instrument, other than the applicable Basic Documents, or violate any law or, to such Partys



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knowledge, any order, rule or regulation applicable to such Party of any court or of any federal or state regulatory body, administrative agency or other
governmental instrumentality having jurisdiction over such Party or any of its properties.

(vi) No Proceedings.
There are no proceedings or, investigations pending or, to such Partys knowledge, threatened before any court, regulatory body, administrative agency or other tribunal or governmental instrumentality having jurisdiction over such Party or its
properties (i) asserting the invalidity of the applicable Basic Documents, any Securities issued pursuant thereto and, in the case of the Transferor, the Custodial Agreement or the Administration Agreement, (ii) seeking to prevent the
issuance of such Securities or the consummation of any of the transactions contemplated by the applicable Basic Documents, or (iii) seeking any determination or ruling that might materially and adversely affect the performance by such Party of
its obligations under, or the validity or enforceability of, such Securities, under the applicable Basic Documents.

(vii)
Consents and Approvals. No consent or authorization of, filing with, notice to or other act by or in respect of any Governmental Authority or any other Person is required in connection with the transactions contemplated hereunder or with the
execution, delivery, performance, validity or enforceability of this Agreement or any of the other Basic Documents except as to such consents which have already been obtained prior to the Closing Date and filings necessary to perfect the security
interests of the Indenture Trustee in the Trust Estate.

(b) Representations and Warranties of the Transferor and Issuer Only.

(i) Good Title. No Loan or Receivable has been sold, transferred, assigned or pledged by the Transferor to any Person other than
the Issuer; immediately prior to the conveyance of the Loans or Receivables pursuant to this Agreement the Transferor had good and marketable (provided that the Transferor makes no representation as to the existence of a willing buyer of such Loans
or Receivables) title thereto, free of any Lien; and, upon execution and delivery of this Agreement by the Transferor, the Issuer shall have all of the right, title and interest of the Transferor in, to and under the Purchased Property transferred
thereby free of any Lien.

(ii) All Filings Made. All filings (including UCC filings) necessary in any jurisdiction
to give the Issuer a first priority perfected security or ownership interest in the Trust Estate (other than Exempt Collateral) shall have been made.

(iii) Valid Transfer. This Agreement constitutes a valid transfer and assignment of the Purchased Property transferred thereby, enforceable against creditors of the Transferor.

(iv) Financial Condition. Each of the Transferor and Issuer is solvent and able to pay its debts when due, and is not the subject
of any case or proceeding, domestic or foreign, relating to bankruptcy, insolvency, reorganization, arrangement, adjustment of debts, winding-up, liquidation, dissolution, composition, receivership, trusteeship, custodianship, or any other
proceeding regarding relief of debtors or enforcement of



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creditors rights. Neither the Transferor nor the Issuer shall take any action in furtherance of, or indicating its consent to, approval of, or
acquiescence in, any of the foregoing cases or proceedings. Neither the Transferor nor the Issuer is a defendant in any case, proceeding or other action seeking issuance of a writ or warrant of attachment, execution, distraint or similar process
against all or any part of its assets.

(v) Place of Business. The principal places of business and chief executive
office of the Transferor and Issuer and the offices where Transferor keeps all of its Loan Files (other than any Collateral Documents held by the Custodian) and Receivables Files is located at Shepard Street, Ripon, WI 54971-0990.

(vi) Absence of Event. No event has occurred which materially and adversely affects the Transferors operations or its ability
to perform its obligations under the Basic Documents to which it is a party.

(vii) UCC Information. The information
set forth on Schedule 7.01 is true, correct and complete in all material respects.

(viii) Security Interest
Representations.

(1) In the event that the transfer of the Second Tier Purchased Assets pursuant to the terms of this
Agreement is held not to constitute a true sale or true contribution, this Agreement creates a valid and continuing security interest (as defined in the applicable UCC) in the Second Tier Purchased Assets in favor of the
Issuer, which security interest is prior to all other Liens, and is enforceable as such as against creditors of and purchasers from the Transferor;

(2) The Receivables constitute accounts within the meaning of the applicable UCC. The Equipment Loans constitute tangible chattel paper within the meaning of the applicable UCC. The Equipment
Notes constitute instruments within the meaning of the applicable UCC. The rights of the Transferor under the Purchase Agreement are general intangibles under the applicable UCC.

(3) Immediately prior to the conveyance of the Second Tier Purchased Assets set forth in this Agreement, the Transferor was the sole
owner of such Second Tier Purchased Assets and owned and had good and marketable title to the Second Tier Purchased Assets, free and clear of any Lien, claim or encumbrance of any Person (whether senior, junior or pari passu)other than
Permitted Adverse Claims; provided, however, that the Transferor makes no representation regarding the availability of a willing buyer for the Second Tier Purchased Assets;

(4) The Transferor has caused the filing of all appropriate financing statements in the proper filing office in the appropriate
jurisdictions under applicable law in order to perfect the security interest in the Second Tier Purchased Assets granted to the Issuer and assigned to



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the Indenture Trustee. All financing statements filed against the Transferor in favor of the Issuer in connection herewith describing the Second Tier
Purchased Assets contain a statement to the following effect: A purchase of or security interest in any collateral described in this financing statement except in favor of the Indenture Trustee will violate the rights of the Issuer and the
Indenture Trustee;

(5) Other than the security interest granted to the Issuer pursuant to this Agreement and
assigned to the Indenture Trustee, the Transferor has not pledged, assigned, sold, granted a security interest in or otherwise conveyed any of the Second Tier Purchased Assets except as permitted hereby. The Transferor has not authorized the filing
of, and is not aware of, any financing statements or documents of similar import against the Transferor that include a description of collateral covering the Second Tier Purchased Assets other than any financing statement or document of similar
import (i) relating to the security interest granted to the Issuer and assigned to the Indenture Trustee or (ii) that has been terminated. The Transferor is not aware of any judgment or tax lien filings against the Transferor;

(6) The Transferor has received a written acknowledgement from the Custodian that the Custodian is holding the only original executed
counterpart of each Equipment Note and the related security agreement on behalf of, and for the benefit of, the Indenture Trustee and is subject to the Custodians customary security and safekeeping procedures;

(7) None of the Equipment Notes or Equipment Loans have any marks or notations indicating that they have been pledged, assigned or
otherwise conveyed to any Person other than the Issuers assignee, the Indenture Trustee, except as provided in Section 2.09(a); and

(8) The Transferor has received all necessary consents and approvals required by the terms of the Second Tier Purchased Assets to pledge to the Issuer its interest and rights in such Second Tier Purchased Assets
hereunder, or the Indenture.

The representations and warranties set forth above shall survive until the Indenture is terminated in accordance with its
terms; provided that to the extent such representations and warranties relate to the Purchased Receivables and the Related Assets with respect thereto, such representations and warranties shall survive only until the Receivables Payoff Date. Any
breaches of the representations and warranties set forth in Section 7.01(b)(viii) above maybe waived upon prior written notice to the Rating Agencies and consent of the Required Noteholders, unless such waiver would amount to a waiver of
an Event of Default under Section 5.1(e) of the Indenture or a Servicer Default under Section 9.01(q), which, in either such case, any such waiver shall require consent of the Special Required Noteholders.



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(ix) Non-Consolidation of Issuer and Transferor. (I) Such Party has,
consistent with the Basic Agreements, been operated in such a manner that it shall not be substantively consolidated with the trust estate of any other person in the event of the bankruptcy or insolvency of such Party or such other Person. Without
limiting the foregoing the Issuer has (1) conducted its business in its own name, (2) maintained its books, records and cash management accounts separate from those of any other Person, (3) maintained its bank accounts separate from
those of any other Person, (4) maintained separate financial statements of the Transferor, showing its assets and liabilities separate and apart from those of any other Person, (5) paid its own liabilities and expenses only out of its own
funds, (6) allocated fairly and reasonably any overhead expenses that are shared with an Affiliate, (7) held itself out as a separate entity, (8) maintained adequate capital in light of its contemplated business operations and
(9) observed all other appropriate limited liability or trust and other organizational formalities including, inter alia,remaining in good standing and qualified as a foreign limited liability or trust in each jurisdiction and obtaining
all necessary licenses and approvals as required under Applicable Law.

(II) Such Party has not (1) held itself out as
being liable for the debts of any other Person, (2) acted other than in its own name and through its trustee or its duly authorized officers or agents, (3) engaged in any joint activity or transaction of any kind with or for the benefit of
any Affiliate including any loan to or from or guarantee of the indebtedness of any Affiliate, except payment of lawful distributions to its beneficial owners or members, (4) commingled its funds or other assets with those of any other person,
(5) created, incurred, assumed, guaranteed or in any manner became liable in respect of any indebtedness (except pursuant to the Indenture) other than indemnities, trade payables and expense accruals incurred in the ordinary course of its
business, (6) entered into a transaction with an Affiliate unless such transaction was commercially reasonable and on the same terms as would be available in an arms length transaction with a person or entity that is not an Affiliate, or
(7) taken any other action that would be inconsistent with maintaining the separate legal identity of such Party.

(c) Representations
and Warranties of the Originator Only.

(i) Purchase Agreement Representations and Warranties. The representations
and warranties of the Originator in Section 3.1 of the Purchase Agreement are true and correct as of the date when made.

(ii) Absence of Event. No event has occurred which materially and adversely affects the Originators operations or its ability to perform its obligations as Originator under the Basic Documents.

(iii) Non-Consolidation of ALS. (a) ALS has, consistent with the Basic Agreements, been operated in such a manner that it
shall not be substantively consolidated with the trust estate of either or both of the Transferor or the Issuer in the event of the bankruptcy or insolvency of either or both of the Transferor or the Issuer. Without limiting the foregoing ALS has
(1) maintained its books, records and cash management accounts separate from those of either or both of the Transferor or the



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Issuer, (2) maintained its bank accounts separate from those of either or both of the Transferor or the Issuer, (3) maintained separate financial
statements, showing its assets and liabilities separate and apart from those of either or both of the Transferor or the Issuer or maintained consolidated financial statements that contain a footnote indicating that the assets of the Transferor and
the Issuer are not available to creditors of ALS, (4) paid its own liabilities and expenses of either or both of the Transferor or the Issuer, (5) allocated fairly and reasonably any overhead expenses that are shared with either or both of
the Transferor or the Issuer and (6) held itself out as a separate entity from either or both of the Transferor or the Issuer.

(b) ALS has not (1) held itself out as being liable for the debts of either or both of the Transferor or the Issuer, (2) acted or conducted its business in the name of either or both of the Transferor or the Issuer,
(3) engaged in any joint activity or transaction of any kind with or for the benefit of either or both of the Transferor or the Issuer including any loan to or from or guarantee of the indebtedness of any Affiliate, (4) commingled its
funds or other assets with those of either or both of the Transferor or the Issuer, (5) created, incurred, assumed, guaranteed or in any manner became liable in respect of any indebtedness of either or both of the Transferor or the Issuer,
(6) entered into a transaction with either or both of the Transferor or the Issuer unless such transaction is commercially reasonable and on the same terms as would be available in an arms length transaction with a person or entity that
is not an Affiliate, (7) conducted its business in the name of either or both of the Transferor or the Issuer, or (8) taken any other action that would be inconsistent with maintaining the separate legal identity of the either or both of
the Transferor or the Issuer.

(d) Representations and Warranties of the Servicer Only. No Servicer Default has occurred and no condition
exists which, upon the issuance of the Notes, would constitute a Servicer Default.

SECTION 7.02 Liability of Transferor. The
Transferor shall be liable in accordance with this Agreement only to the extent of the obligations in this Agreement specifically undertaken by the Transferor.

SECTION 7.03 Merger or Consolidation of, or Assumption of the Obligations of, Transferor; Amendment of Limited Liability Company Agreement.

(a) Any Person (i) into which the Transferor may be merged or consolidated, (ii) resulting from any merger or consolidation to which the
Transferor shall be a party, (iii) succeeding to the business of the Transferor, or (iv) more than 50% of the voting interests of which is owned directly or indirectly by ALS, which Person in any of the foregoing cases executes an
agreement of assumption to perform every obligation of the Transferor under this Agreement, shall be the successor to the Transferor under this Agreement without the execution or filing of any document or any further act on the part of any of the
parties to this Agreement; provided that the Transferor shall provide ten (10) days prior notice of any merger, consolidation or succession pursuant to this Section 7.03 to the Rating Agencies and obtain the prior
written consent of the Special Required Noteholders.



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(b) Until the Outstanding Obligations have been paid in full, the Transferor shall at all times have two
Independent Managers. The Transferor hereby agrees that during the term of this Agreement it shall not amend the definition of Independent Manager or Sections 1.3, 1.4, 1.5, 1.7, 4.1, 4.2, 4.4, 5.1, 5.3, 5.4, 5.5, 6.1, 6.2,
6.3, 9.1 or 9.7 or Schedule 1 of its limited liability agreement without obtaining the prior written consent of the Special Required Noteholders and providing prior written notice thereof to the Rating Agencies.

SECTION 7.04 Limitation on Liability of Transferor and Others. The Transferor and any director or officer or employee or agent of the Transferor
may rely in good faith on the advice of counsel or on any document of any kind prima facie properly executed and submitted by any Person respecting any matters arising under this Agreement. The Transferor shall not be under any obligation to appear
in, prosecute or defend any legal action that is not incidental to its obligations as Transferor of the Loans or Receivables under this Agreement and that in its opinion may involve it in any expense or liability.

SECTION 7.05 Transferor May Own Securities. Each of the Transferor and any Person controlling, controlled by or under common control with the
Transferor may in its individual or any other capacity become the owner or pledgee of Securities with the same rights as it would have if it were not the Transferor or an Affiliate thereof except as otherwise specifically provided herein. Except as
otherwise provided herein, Securities so owned by or pledged to the Transferor or such controlling or commonly controlled Person shall have an equal and proportionate benefit under the provisions of this Agreement, without preference, priority or
distinction as among all of such Securities.

SECTION 7.06 Rule 144A. The Transferor, the Issuer and the Servicer shall furnish,
upon the request of any Noteholder, the Administrative Agent or the Owner Trustee, to the Trust the information required to be delivered under Rule 144A(d)(4) under the Securities Act if at the time of such request the Issuer or the Transferor is
not a reporting company under Section 13 or Section 15(d) of the Exchange Act, and any of the Notes are restricted securities within the meaning of Rule 144(a)(3) under the 1933 Act at such time.

ARTICLE VIII

LIABILITIES OF
SERVICER AND OTHERS

SECTION 8.01 Liability of Servicer; Indemnities.

(a) The Servicer shall be liable in accordance with this Agreement only to the extent of the obligations in this Agreement specifically undertaken by the
Servicer. Such obligations shall include (but are not limited to) the following:

(i) The Servicer shall defend, indemnify
and hold harmless each Trustee, each Issuer, the Beneficiaries, the Registered Owners and any director, officer, employee or agent thereof (and, if ALS or any of its Affiliates is no longer the Servicer, then the indemnities in this provision shall
run, in addition to the foregoing, to the benefit of the Agents, the Administrative Agent and the Noteholders and any director, officer, employee or agent thereof) from and against any and all costs, expenses, losses, damages,



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claims and liabilities arising out of or resulting from claims by third parties (other than parties to the Basic Documents) arising from the servicing of
Loans or Receivables or the use, ownership, repossession (other than losses related to a decline in value of the Equipment repossessed) or operation by the Servicer or any Affiliate thereof of any item of Equipment or other collateral therefor;

(ii) The Servicer (other than the Indenture Trustee in its capacity as successor Servicer pursuant to
Section 9.02) shall indemnify, defend and hold harmless each Trustee, each Beneficiary, the Registered Owners, the Issuer and any director, officer, employee or agent thereof (and, if ALS or any of its Affiliates is no longer the
Servicer, then indemnities in this provision shall run, in addition to the foregoing, to the benefit of the Agent, the Administrative Agent and the Noteholders and any director, officer, employee or agent thereof) from and against any taxes that may
at any time be asserted against any such Person with respect to the transactions contemplated in this Agreement, including any sales, gross receipts, general corporation, tangible personal property, privilege or license taxes (but not including any
taxes asserted with respect to, and as of the date of, the sale of the Loans and the Receivables to the Issuer or the issuance and original sale of the Securities, or asserted with respect to ownership of the Loans or Receivables, or federal or
other income taxes arising out of distributions on the Securities, or any fees or other compensation payable to any such Person) and costs and expenses in defending against the same;

(iii) The Servicer shall indemnify, defend and hold harmless each Trustee, the Issuer, the Beneficiaries, the Registered Owners and any
director, officer, employee or agent thereof (and, if ALS or any of its Affiliates is no longer the Servicer, then the indemnities in this provision shall run, in addition to the foregoing, to the benefit of the Agent, the Administrative Agent and
the Noteholders and any director, officer, employee or agent thereof) from and against any and all costs, expenses, losses, claims, damages, and liabilities to the extent that such cost, expense, loss, claim, damage, or liability arose out of, or
was imposed upon such Trustee, the Issuer, the Beneficiaries or the Registered Owners through the negligence, willful misfeasance or bad faith of the Servicer or any breach or failure by the Servicer in the performance of its duties under this
Agreement and any other Basic Documents or by reason of negligent disregard of its obligations and duties or if any of the representations and warranties by the Servicer shall be inaccurate as of the date made under any of the Basic Documents; and

(iv) The Servicer (other than the Indenture Trustee in its capacity as successor Servicer pursuant to
Section 9.02) shall indemnify, defend and hold harmless each Trustee and their respective agents, officers, directors and servants, from and against all costs, expenses, losses, claims, damages and liabilities arising out of or incurred
in connection with (x) in the case of the Owner Trustee, the Indenture Trustees performance of its duties under the Basic Documents, (y) in the case of the Indenture Trustee, the Owner Trustees performance of its duties under
the Basic Documents or (z) the acceptance, administration or performance by, or action or inaction of, the applicable Trustee of the trusts and duties contained in this Agreement, the Basic Documents, the Indenture (in the case of the Indenture
Trustee), including the administration of the Trust Estate, and the Trust Agreement (in the case of the Owner Trustee), including the



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administration of the Owner Trust Estate, except in each case to the extent that such cost, expense, loss, claim, damage or liability: (A) is due to the
willful misfeasance, bad faith or gross negligence of the Person seeking to be indemnified, (B) (if otherwise payable to the Indenture Trustee) arises from the Indenture Trustees breach of any of its representations or warranties in
Section 6.13 of the Indenture or (C) (if otherwise payable to the Owner Trustee) arises from the Owner Trustees breach of any of its representations or warranties set forth in Section 6.6 of the Trust Agreement.

(b) Indemnification under this Section 8.01 shall survive the resignation or removal of the Owner Trustee or the Indenture Trustee or the
termination of this Agreement. If the Servicer has made any indemnity payments pursuant to this Section 8.01 and the recipient thereafter collects any of such amounts from others, the recipient shall promptly repay such amounts collected
to the Servicer, without interest.

(c) The Servicer shall pay any amounts owing pursuant to Section 8.01 directly to the
indemnified Person and such amounts will not be deposited in the Collection Accounts.

(d) Indemnification pursuant to this
Section 8.01 will include reasonable fees and expenses of counsel and expenses of litigation reasonably incurred.

(e)
Notwithstanding the foregoing indemnification obligations, nothing in this Section 8.01 shall be intended by the parties to constitute a guaranty by the Servicer of repayment of the Loans.

SECTION 8.02 Merger or Consolidation of, or Assumption of the Obligations of, the Servicer. Notwithstanding anything in this Agreement to the
contrary, without the consent of the Special Required Noteholders or any other Person, (a) the Servicer may consolidate, merge or sell all or substantially all of its assets and (b) any Person (i) into which the Servicer may be merged
or consolidated, (ii) resulting from any merger, conversion or consolidation to which the Servicer shall be a party, (iii) succeeding to the business of the Servicer, or (iv) of which more than 50% of the voting interests is owned
directly or indirectly by ALS and which is otherwise servicing the Transferors loans, which Person in any of the foregoing cases executes an agreement of assumption reasonably satisfactory to the Special Required Noteholders and the Indenture
Trustee to perform every obligation of the Servicer under this Agreement shall be the successor to the Servicer under this Agreement without the further execution or filing of any paper or any further act on the part of any of the parties to this
Agreement; provided, however, that immediately after giving effect thereto, there shall be no Servicer Default; provided further, that following any such merger, conversion or consolidation, the business of such successor
Servicer shall be materially the same as the Servicers business as constituted immediately prior to such merger, conversion or consolidation. In the event that the requirements in each of the provisos of the preceding sentence are not
satisfied, such transaction shall require the Special Required Noteholders written consent, not to be unreasonably withheld. Pursuant to this Section 8.02, the Servicer shall provide the Administrative Agent and the Rating Agencies
at least thirty (30) days prior written notice of any merger, consolidation or succession and a copy of the agreement of assumption in respect of such merger, consolidation or succession, the pro formafinancial calculations
supporting the successor entitys compliance with the financial covenants specified in Section 3.07(i), if applicable, and such other additional information as the



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Administrative Agent shall reasonably request. It is understood that nothing in this Section 8.02 shall be construed to limit or otherwise impair
the ability of the Transferor or any Interested Party to enforce such remedies as are available to them under the Basic Documents.

SECTION
8.03 Limitation on Liability of Servicer and Others.

(a) Neither the Servicer nor any of the directors or officers or employees or
agents of the Servicer shall be under any liability to the Issuer or the Noteholders, except as specifically provided in this Agreement, for any action taken or for refraining from the taking of any action pursuant to the Basic Documents or for
errors in judgment; provided, however, that this provision shall not protect the Servicer or any such Person against any liability that would otherwise be imposed by reason of willful misfeasance, bad faith or gross negligence
(negligence, in the case of the initial Servicer) in the performance of duties or by reason of reckless (negligent, in the case of the initial Servicer) disregard of obligations and duties under the Basic Documents. The Servicer and any director,
officer or employee or agent of the Servicer may rely in good faith on the advice of counsel or on any document of any kind prima facie properly executed and submitted by any Person respecting any matters arising under this Agreement.

(b) [Reserved]

(c) Except as provided in
this Agreement, the Servicer shall not be under any obligation to appear in, prosecute or defend any legal action that is not incidental to its duties to service the Loans or Receivables in accordance with this Agreement and that in its opinion may
involve it in any expense or liability; provided, however, that the Servicer may undertake any reasonable action that it may deem necessary or desirable in respect of this Agreement and the rights and duties of the parties to this
Agreement and the interests of the Beneficiaries and the Registered Owners under this Agreement and the Beneficiaries under the Indenture and the interests of the Registered Owners under the Trust Agreement. In such event, the reasonable legal
expenses and costs for such action and any liability resulting therefrom that is not incidental to its duties to service the Loans or Receivables in accordance with this Agreement shall be expenses, costs and liabilities of the Issuer and the
Servicer shall be entitled to be reimbursed therefor.

(d) The Indenture Trustee shall distribute out of the Collection Accounts on a
Distribution Date any amounts permitted for reimbursement pursuant to Section 8.03(c) which have not been previously reimbursed in accordance with Section 8.2 of the Indenture; provided, however, that the Indenture
Trustee shall not distribute such amounts if the amount on deposit in the Reserve Account (after giving effect to all deposits and withdrawals pursuant to Section 8.2 of the Indenture) is greater than zero but less than the Reserve Account
Required Amount for such Distribution Date.

SECTION 8.04 Delegation of Duties. So long as ALS acts as Servicer, the Servicer may,
at any time without notice or consent, delegate any duties under this Agreement to any other entity more than 50% of the voting stock of which is owned, directly or indirectly, by ALS. The Servicer may at any time perform specific duties as Servicer
through sub-contractors who are in the business of servicing stand alone commercial laundry equipment loans; provided,



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however, that (i) Servicer shall not delegate to any such sub-contractor any material portion of such servicing duties without the Administrative
Agents (acting at the direction of the Required Noteholders) consent, and (ii) no such delegation shall relieve the Servicer of its responsibility with respect to such duties.

SECTION 8.05 Servicer Not to Resign. Subject to the provisions of Section 9.02, the Servicer shall not resign from the obligations and
duties imposed on it by this Agreement as Servicer without the consent of the Special Required Noteholders, except upon determination that the performance of its duties under this Agreement is no longer permissible under applicable law. Any such
determination permitting the resignation of the Servicer shall be evidenced by an Opinion of Counsel to such effect delivered to each Trustee and the Administrative Agent and the Rating Agencies (with a copy to the initial Noteholders). No such
resignation shall become effective until the Indenture Trustee or a successor Servicer acceptable to the Special Required Noteholders shall have assumed the responsibilities and obligations of the Servicer in accordance with
Section 9.02.

ARTICLE IX

SERVICER DEFAULT

SECTION 9.01 Servicer Defaults. Each of the following shall constitute a
Servicer Default:

(a) any failure by the Servicer to deliver to the Indenture Trustee for deposit in any of the
Designated Accounts or the Lockbox Accounts any required payment or to direct the Indenture Trustee to make any required distributions therefrom, which failure continues unremedied for a period of three (3) Business Days after the date when
due;

(b) failure on the part of the Transferor or the Servicer to duly observe or perform any of their respective covenants or agreements
set forth in the Purchase Agreement, this Agreement or any of the other Basic Documents which failure (i) materially and adversely affects the rights of the Beneficiaries, and (ii) continues unremedied for a period of thirty (30) days
after the date on which written notice of such failure, requiring the same to be remedied, shall have been given to the Transferor or the Servicer, as applicable, by the Indenture Trustee (acting at the direction of the Administrative Agent), or to
the Transferor or the Servicer, as applicable, and to the Indenture Trustee by the Administrative Agent;

(c) the entry of a decree or
order by a court or agency or supervisory authority having jurisdiction in the premises for the appointment of a conservator, receiver, liquidator or similar official for the Transferor or the Servicer, in any bankruptcy, insolvency, readjustment of
debt, marshaling of assets and liabilities or similar proceedings, or for the winding up or liquidation of their respective affairs, and the continuance of any such decree or order unstayed and in effect for a period of sixty (60) or more
consecutive days;

(d) the consent by the Transferor or the Servicer to the appointment of a conservator or receiver, liquidator or similar
official in any bankruptcy, insolvency, readjustment of debt, marshaling of assets and liabilities, or similar proceedings of or relating to the Transferor or the



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Servicer or of or relating to substantially all of their respective property; or the Transferor or the Servicer shall admit in writing its inability to pay
its debts generally as they become due, file a petition to take advantage of any applicable bankruptcy, insolvency or reorganization statute, make an assignment for the benefit of its creditors or voluntarily suspend payment of its obligations;

(e) the failure to distribute a Servicers Certificate pursuant to the terms of Section 3.10 or Section 5.08
within three (3) Business Days after the related Determination Date provided, however, that in the event such failure is caused by an occurrence out of the reasonable control of the Servicer and is consented to by the Noteholders
(such consent not to be unreasonably withheld), then a Servicer Default will not occur if such failure is cured within an additional two (2) Business Days, such exception to be limited to one time per twelve (12) months during the life of
this Agreement;

(f) any assignment of rights or delegation of duties by the Servicer in violation of this Agreement;

(g) any material adverse change in the properties, business or condition (financial or otherwise) of the Servicer or the existence of any other condition
which, in each case, constitutes, in the reasonable discretion of the Administrative Agent (acting at the direction of the Special Required Noteholders) a material impairment of the Servicers ability to perform its obligations under this
Agreement; provided that a change in the value of any Loan or Receivable shall not result in a Servicer Default under this subsection (g);

(h) the first to occur of (i) an event of default by the Servicer or its Affiliate, as applicable, in the performance of any term, provision or condition of any indebtedness for borrowed money in excess of
$5,000,000, which event of default other than a payment default is neither waived pursuant to an unconditional waiver nor cured within sixty (60) days (inclusive of any cure period or other period of grace) of the date upon which such event of
default occurs or (ii) the acceleration of any such indebtedness as a result of an event of default, such that any indebtedness due thereunder is due prior to its stated maturity; or any such indebtedness shall be declared to be due and payable
prior to the date of maturity thereof or shall be unpaid on its maturity date;

(i) a final judgment or judgments for the payment of money
in excess of $5,000,000 in the aggregate against the Servicer and the same shall not be discharged (or provisions made for such discharge) or bonded, or a stay of execution thereof shall not be procured, within sixty (60) days from the date of
entry thereof and the Servicer shall not, within said period of sixty (60) days, or within such longer period during which execution of the same shall have been stayed or bonded, appeal therefrom and cause the execution thereof to be stayed
during such appeal;

(j) the rolling three (3) month average of the Delinquency Ratio - Receivables exceeds 6.50%;

(k) the rolling three (3) month average of the Delinquency Ratio - Equipment Loans exceeds 3.50%;



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(l) the rolling three (3) month average of the Dilution Ratio - Receivables exceeds 10.0%;

(m) the rolling three (3) month average of the Default Ratio - Receivables exceeds 5.00%;

(n) the rolling three (3) month average of the Default Ratio - Equipment Loans exceeds 1.50%;

(o) the Days Sales Outstanding - Receivables exceeds one hundred ten (110) days;

(p) if ALS or an Affiliate thereof is the Servicer, the breach by the Servicer of one or both of the covenants set forth in Section 3.07(i);
or

(q) the breach, in any material respect, by the Servicer of any representation or warranty made by the Servicer in this Agreement or
any of the Basic Documents.

SECTION 9.02 Consequences of a Servicer Default.

(a) If a Servicer Default shall occur and be continuing, the Administrative Agent (at the direction of the Special Required Noteholders) by notice then
given in writing to the Servicer, the Owner Trustee and the Indenture Trustee may, in addition to other rights and remedies available in a court of law or equity to damages, injunctive relief and specific performance, elect to waive such Servicer
Default or direct the Indenture Trustee to terminate all of the rights and obligations of the Servicer as Servicer under this Agreement (provided that a termination shall occur without notice upon a Servicer Default under Section 9.01(c)
or (d)). On or after the receipt by the Servicer of such written notice, all authority and power of the Servicer under this Agreement, whether with respect to the Securities, the Loans or Receivables or otherwise, shall pass to and be vested
in the Indenture Trustee and any successor Servicer pursuant to and under Section 9.03. The Indenture Trustee and any successor Servicer is hereby authorized and empowered to execute and deliver, on behalf of the Servicer, as
attorney-in-fact or otherwise, any and all documents and other instruments, and to do or accomplish all other acts or things necessary or appropriate to effect the purposes of such notice of termination, whether to complete the transfer and
endorsement of the Loans and related documents, or otherwise. The predecessor Servicer agrees to cooperate with the Backup Servicer, the Indenture Trustee and any successor Servicer in effecting the termination of the responsibilities and rights of
the Servicer under this Agreement, including the transfer to the Indenture Trustee for administration by it of all cash amounts that shall at the time be held by the Servicer for deposit, or that shall have been deposited by the Servicer in the
Lockbox Accounts, the Collection Accounts, the Reserve Account or thereafter received with respect to the Loans and the Receivables that shall at that time be held by the Servicer, and will provide the Backup Servicer, the Indenture Trustee and any
successor Servicer reasonable access to the servicing systems and records with respect to the Loans and the Receivables. In addition to any other amounts that are then payable to the predecessor Servicer under this Agreement, the predecessor
Servicer shall be entitled to receive from the successor Servicer the portions of any Servicer Advance Reimbursement Amount which relates to any Servicer Advance made by the terminated Servicer. To assist the successor Servicer in enforcing all
rights under the Loans and the Receivables, the predecessor Servicer, at



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its own expense, shall transfer its electronic records relating to such Loans and Receivables to the successor Servicer in such electronic form as is
then-maintained by the predecessor Servicer in the ordinary course of its business and shall transfer the related Loan Files and all other records, correspondence and documents relating to the Loans and Receivables that it may possess to the
successor Servicer in the manner and at such times as the successor Servicer shall reasonably request.

(b) Following the occurrence of a
Servicer Default, but without limiting the rights of the Indenture Trustee or the Beneficiaries under any other provisions of the Basic Documents, the Administrative Agent (at the written direction of the Required Noteholders) may direct the
Indenture Trustee to conduct a review of the Servicers cash application procedures with respect to Collections on the Loans and Receivables, including transfers from the Lockbox Accounts to the Collection Accounts, and the Indenture Trustee
hereby agrees to conduct such review, or cause a third party to conduct such review, at the expense of the Servicer, on such basis as the Administrative Agent (acting at the direction of the Required Noteholders) shall reasonably determine.

SECTION 9.03 Indenture Trustee to Act; Appointment of Successor. On and after the time the Servicer receives a notice of
termination pursuant to Section 9.02 unless and until the Administrative Agent (at the direction of the Special Required Noteholders) has designated a successor Servicer, which has accepted such appointment, the Backup Servicer shall be
the successor in all respects to the Servicer in its capacity as servicer under this Agreement and the transactions set forth or provided for in this Agreement, and shall be subject to all the responsibilities, restrictions, duties and liabilities
relating thereto placed on the Servicer by the terms and provisions of this Agreement; provided, however, that the predecessor Servicer shall remain liable for, and the successor Servicer shall have no liability for, any
indemnification obligations of the Servicer arising as a result of acts, omissions or occurrences during the period in which the predecessor Servicer was the Servicer, and provided, further, that ALS shall remain liable for the
indemnification obligations of the Servicer under Sections 8.01(ii) and (iv) of this Agreement without regard to whether it is still Servicer hereunder. The Servicer shall be subrogated to the rights of the indemnified party with
respect to claims against a replacement Servicer. As compensation therefor, the Backup Servicer, the Indenture Trustee or a successor Servicer designated by the Administrative Agent (at the direction of the Special Required Noteholders) shall be
entitled to reimbursement of costs and expenses incurred in the transfer and conversion of the electronic records relating to the Loans and the Receivables received from the predecessor Servicer, together with such compensation (whether payable out
of the Collection Accounts or otherwise) as the Servicer would have been entitled to under this Agreement if no such notice of termination had been given including the Servicing Fee, and in the case of the Backup Servicer, of any amounts to which
the Backup Servicer is entitled as the Servicing Fee pursuant to the Backup Servicing Agreement. In the event the Indenture Trustee becomes the successor Servicer, it hereby reserves the right to terminate any then existing sub-servicing agreements
as may be entered into pursuant to Section 8.04. Notwithstanding the above, the Indenture Trustee may, if it shall be unwilling so to act, or shall, if it is legally unable so to act, appoint, or petition a court of competent
jurisdiction to appoint, a successor (i) having a net worth of not less than $10,000,000, (ii) acceptable to the Special Required Noteholders and (iii) whose regular business includes the servicing of equipment loans, as the successor
to the Servicer under this Agreement in the assumption of all or any part of the responsibilities, duties



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or liabilities of the Servicer under this Agreement. In connection with such appointment and assumption, the Indenture Trustee may make such arrangements for
the compensation of such successor out of payments on Loans and Receivables as it and such successor shall agree, subject to the consent of the Required Noteholders; provided, that if a successor Servicer is appointed and assumes the duties
of successor Servicer hereunder, the Servicing Fee Rate used to calculate the Servicing Fee payable to the successor Servicer shall be a rate agreed upon by such successor Servicer and the person or group appointing it hereunder but not in excess of
1.0% unless the Rating Agencies have received prior written notice thereof and the Administrative Agent (at the direction of the Required Noteholders) has consented to such rate. The Indenture Trustee and such successor shall take such action,
consistent with this Agreement, as shall be necessary to effectuate any such succession. No removal or resignation of the Servicer shall (other than under Section 9.02(a) with respect to a Servicer Default under
Section 9.01(c) or (d)) become effective until the Backup Servicer under Section 3.13, the Indenture Trustee or another successor Servicer acceptable to the Special Required Noteholders shall have assumed the
Servicers responsibilities and obligations in accordance with this Section 9.03.

SECTION 9.04 Notification to the
Beneficiaries and the Certificateholders. Upon any termination of, or appointment of a successor to, the Servicer pursuant to this Article IX, the Indenture Trustee shall give prompt written notice thereof to the Noteholders, the
Administrative Agent and the Rating Agencies, and the Owner Trustee shall give prompt written notice thereof to the Certificateholders.

SECTION 9.05 Waiver of Past Defaults. The Special Required Noteholders may, on behalf of all Beneficiaries and Registered Owners, waive any default by the Servicer in the performance of its obligations hereunder and its consequences,
including a default in making any required deposits to or payments from any of the accounts in accordance with this Agreement. Upon any such waiver of a past default, such default shall cease to exist, and any Servicer Default arising therefrom
shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon.

SECTION 9.06 Effects of Termination or Resignation of Servicer.

(a) Upon the appointment of the successor Servicer, the predecessor Servicer shall immediately remit any Scheduled Payments, Liquidation Proceeds or other payments that it may receive pursuant to any Loan or
Receivable or otherwise to the successor Servicer for the benefit of the Issuer after such date of appointment.

(b) After the termination
of the Servicer pursuant to Section 9.02 or resignation pursuant to Section 8.05 (except as otherwise provided in Section 8.05 or 9.03), the predecessor Servicer shall have no further rights or obligations
with respect to the management or servicing of the Trust Estate or the enforcement, custody or collection of the Loans or Receivables, and the successor Servicer shall have all of such obligations, except that the predecessor Servicer will transmit
or cause to be transmitted directly to the relevant Designated Account, promptly upon receipt and in the same form in which received, any amounts held by the predecessor Servicer (properly endorsed where required for the successor Servicer to
collect them) received as payments upon or otherwise in connection with the Loans or Receivables. The predecessor



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Servicers indemnification obligations pursuant to Section 8.01 will survive the termination or resignation of the predecessor Servicer but
will not extend to any acts or omissions of a successor Servicer.

ARTICLE X

TERMINATION; REDEMPTION

SECTION 10.01 Optional Purchase of Equipment Loans
and Receivables. If at any time after the Loan Conversion Date, the Aggregate Loan Balance of the Loans held by the Trust is 10% or less of the Aggregate Loan Balance on such Loan Conversion Date, the Servicer shall have the option, but not the
obligation, to purchase for cash the Equipment Loans and related assets and Receivables at a price equal to the aggregate Administrative Purchase Payments for all Loans (including Defaulted Equipment Loans) plus the appraised value of the
Receivables and such other related assets held by the Trust (less the Liquidation Expenses to be incurred in connection with the recovery thereof (excluding the Receivables and related assets)), such value to be determined by an appraiser mutually
agreed upon by the Servicer, each Trustee and the Administrative Agent (acting at the direction of the Required Noteholders) (the Optional Purchase Price); provided, however, that the Servicer may not exercise its
option if the Optional Purchase Price would be less than the sum of (i) the Redemption Price and (ii) all administrative expenses, operating costs and amounts to third parties due as of such Distribution Date. In the event the Servicer
elects to exercise its option, the Issuer shall redeem the Equipment Loan Notes and the Receivables Notes in accordance with this Section 10.01 effective as of such date of purchase. The Issuer shall be required to notify the Indenture
Trustee and the Administrative Agent in writing by no later than five (5) Business Days prior to a notice required to be sent by the Indenture Trustee pursuant to Section 11.1(a) of the Indenture. To exercise such option, the Servicer
shall deposit in the Loan Collection Account an amount equal to the Optional Purchase Price.

SECTION 10.02 Termination of the
Agreement. Unless otherwise agreed by the Transferor, the Servicer, the Issuer and the Beneficiaries and the Registered Owners, this Agreement shall terminate upon termination of the Indenture and the Servicer shall give the Owner Trustee prompt
notice of such termination; provided that the Notes and all other amounts due to third parties referred to in Section 10.01 have been paid in full.

ARTICLE XI

MISCELLANEOUS PROVISIONS

SECTION 11.01 Amendment.

(a) This
Agreement may be amended by the Transferor, the Servicer and the Issuer with the consent of the Indenture Trustee and the Administrative Agent, but without the consent of any of the Noteholders, (i) to cure any ambiguity, (ii) to correct
or supplement any provision in this Agreement that may be defective or inconsistent with any other provision in this Agreement or any other Basic Document, (iii) to add to the covenants, restrictions or obligations of the Transferor, the
Servicer or the Indenture Trustee or (iv) to add, change or eliminate any other provision of this Agreement in any manner that shall not, as evidenced by an Officers Certificate, adversely affect in any material respect the interests of
the Noteholders.



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(b) Notwithstanding paragraph (a), this Agreement may also be amended from time to time by the
Transferor, the Servicer and the Issuer with the consent of the Required Noteholders for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Agreement, or of modifying in any manner the
rights of the Noteholders, and any provisions hereof may be waived with the consent of the Required Noteholders except that no amendment may be made to this Agreement which would be prohibited under the proviso of Section 9.2 of the Indenture
if such amendment were to be made to the Indenture unless the consent that would have been required as described therein, if such amendment were to be made to the Indenture, shall have been obtained.

(c) Prior to the execution of any such amendment or consent, the Indenture Trustee shall furnish written notification of the substance of such amendment
or consent to the Rating Agencies, the Administrative Agent and the initial Noteholders.

(d) Promptly after the execution of any such
amendment or consent, the Owner Trustee shall furnish written notification of the substance of such amendment or consent to each Registered Owner, the Administrative Agent and the Indenture Trustee shall furnish written notification to each
Noteholder.

(e) It shall not be necessary for the consent of the Noteholders pursuant to Section 11.01(b) to approve the
particular form of any proposed amendment or consent, but it shall be sufficient if such consent shall approve the substance thereof but it shall be necessary to obtain the consent of the Administrative Agent. The manner of obtaining such consents
of the Noteholders (and any other consents of the Noteholders provided for in this Agreement) and of evidencing the authorization of the execution thereof by the Noteholders shall be subject to such reasonable requirements as the Indenture Trustee
may prescribe.

(f) The Owner Trustee may, but shall not be obligated to, enter into any such amendment which affects the Owner
Trustees own rights, duties or immunities under this Agreement or otherwise. The Indenture Trustee may, but shall not be obligated to, execute and deliver any such amendment which affects the Indenture Trustees rights, duties or
immunities under this Agreement or otherwise.

(g) Each of ALS and the Transferor agrees that such Person shall not amend or agree to any
amendment of the Purchase Agreement unless such amendment would be permissible under the terms of this Section 11.01 as if this Section 11.01 were contained in the Purchase Agreement with the consent of the Required
Noteholders.

(h) Notwithstanding the foregoing, the signatures of the Transferor and the Issuer shall not be required for the
effectiveness of any amendment which modifies the representations, warranties, covenants or responsibilities of the Servicer at any time when the Servicer is not the Originator or a successor Servicer is designated pursuant to
Section 9.02.



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SECTION 11.02 Protection of Title to Owner Trust Estate.

(a) The Transferor or the Servicer or both shall execute and file such financing statements and cause to be executed and filed such continuation and other
statements, all in such manner and in such places as may be required by law fully to preserve, maintain and protect the interest of the Beneficiaries, the Certificateholders and the Trustees under this Agreement in the Loans and Receivables. The
Transferor or the Servicer or both shall deliver (or cause to be delivered) to each Trustee and the Administrative Agent file-stamped copies of, or filing receipts for, any document filed as provided above, as soon as available following such
filing.

(b) Neither the Transferor nor the Servicer shall change its jurisdiction of organization, name, identity or corporate structure
in any manner that would, could or might make any financing statement or continuation statement filed in accordance with paragraph (a) above incorrect or seriously misleading within the meaning of Section 9-507 of the UCC, unless it shall
have given each Trustee and the Administrative Agent at least sixty (60) days prior written notice thereof and shall have taken all such actions as may be reasonably requested by the Trustees or the Administrative Agent necessary to maintain
the perfection and priority of such Liens of the Trustees.

(c) Each of the Transferor and the Servicer shall give each Trustee and the
Administrative Agent at least sixty (60) days prior written notice of any relocation of its principal executive office if, as a result of such relocation, the applicable provisions of the UCC would require the filing of any amendment of any
previously filed financing or continuation statement or of any new financing statement. The Servicer shall at all times maintain each office from which it services Loans and Receivables and its principal executive office within the United States of
America.

(d) The Servicer shall maintain accounts and records as to each Loan accurately and in sufficient detail to permit (i) the
reader thereof to know at any time the status of such Loan, including payments and recoveries made and payments owing (and the nature of each) and extensions of any scheduled payments made not less than forty-five (45) days prior thereto, and
(ii) reconciliation between payments or recoveries on (or with respect to) each Loan and Receivable and the amounts from time to time deposited in the Lockbox Accounts and the Collection Accounts.

(e) The Servicer shall maintain its computer systems so that, from and after the time of sale under this Agreement of the Loans and Receivables to the
Issuer, the Servicers master computer records (including any Backup archives) that refer to any Loan or Receivable indicate clearly that the Loan or Receivable is owned by the Issuer. Indication of the Issuers ownership of a Loan or
Receivable shall be deleted from or modified on the Servicers computer systems when, and only when, the Loan or Receivable has been paid in full, liquidated or repurchased by the Transferor or purchased by the Servicer.

(f) If at any time the Transferor or the Servicer proposes to sell, grant a security interest in, or otherwise transfer any interest in stand-alone
commercial laundry equipment loans to any prospective purchaser, lender or other transferee, the Servicer shall give to such prospective purchaser, lender or other transferee computer tapes, records or print-outs (including any restored from Backup
archives) that, if they refer in any manner whatsoever to any Loan, indicate clearly that such Loan has been sold and is owned by the Issuer unless such Loan has been paid in full, liquidated or repurchased by the Transferor or purchased by the
Servicer.



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(g) If at any time the Transferor or the Servicer proposes to sell, grant a security interest in, or
otherwise transfer any interest in trade receivables to any prospective purchaser, lender or other transferee, the Servicer shall give to such prospective purchaser, lender or other transferee computer tapes, records or print-outs (including any
restored from Backup archives) that, if they refer in any manner whatsoever to any Receivable, indicate clearly that such Receivable has been sold and is owned by the Issuer unless such Receivable has been paid in full, liquidated or repurchased by
the Transferor or purchased by the Servicer.

(h) The Servicer shall permit each Trustee and the Administrative Agent and their respective
agents (at such Persons cost and expense except to the extent such costs and expenses shall be required to be paid by ALS or its Affiliates pursuant to the Basic Documents) at any time during normal business hours and upon reasonable advance
notice to inspect, audit and make copies of and abstracts from the Servicers records regarding any Loans and Receivables then or previously included in the Owner Trust Estate.

(i) The Servicer shall furnish to each Trustee and the Administrative Agent at any time upon request a list of all Loans and Receivables then held as
part of the Trust including any then existing amendments, substitutions or replacements thereto, together with a reconciliation of such list to the Schedule of Loans and Schedule of Receivables and to each of the Servicers Certificates
furnished before such request indicating removal of Loans or Receivables from the Trust. Upon request, the Servicer shall furnish a copy of any such list to the Transferor. Each Trustee and the Transferor shall hold any such list and the Schedule of
Loans and Schedule of Receivables for examination by interested parties during normal business hours at their respective offices located at the addresses set forth in Section 11.03.

SECTION 11.03 Notices. All demands, notices and communications upon or to the Transferor, the Servicer, the Indenture Trustee, the Administrative
Agent, the Rating Agencies or the initial Noteholders under this Agreement shall be delivered as specified in Appendix B.

SECTION
11.04 Governing Law. All questions concerning the construction, validity and interpretation of this Agreement shall be governed by and construed and enforced in accordance with the internal laws of the State of New York, without giving effect
to any choice of law or conflict provision or rule (whether of the State of New York or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of New York; provided, however that
the duties and immunities of the Owner Trustee hereunder shall be governed by the laws of the State of Delaware.

SECTION 11.05
Severability of Provisions. If any one or more of the covenants, agreements, provisions or terms of this Agreement shall be for any reason whatsoever held invalid, then such covenants, agreements, provisions or terms shall be deemed severable
from the remaining covenants, agreements, provisions or terms of this Agreement and shall in no way affect the validity or enforceability of the other provisions of this Agreement or of the Securities or the rights of the holders thereof.



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SECTION 11.06 Assignment.

(a) Notwithstanding anything to the contrary contained in this Agreement, this Agreement may not be assigned by the Transferor without the prior written
consent of the Special Required Noteholders. The Transferor shall provide notice of any such assignment to the Rating Agencies and the Administrative Agent (with a copy to the initial Noteholders).

(b) Notwithstanding anything to the contrary contained in this Agreement, this Agreement may not be assigned by the Servicer without the prior written
consent of the Special Required Noteholders other than as permitted by Section 8.02. The Servicer shall provide notice of any such assignment to the Rating Agencies and the Administrative Agent (with a copy to the initial Noteholders).

SECTION 11.07 Benefits of Agreement. This Agreement shall inure to the benefit of and be binding upon the parties hereto, the
Beneficiaries (subject to the procedures in Article V of the Indenture), the Certificateholders and the Trustees and their respective successors and permitted assigns. Except as otherwise provided in Section 8.01, this Article XI
or in Article V of the Indenture, no other Person shall have any right or obligation hereunder.

SECTION 11.08 Separate
Counterparts. This Agreement may be executed by the parties hereto in separate counterparts, each of which when so executed and delivered shall be an original, but all such counterparts shall together constitute but one and the same instrument.

SECTION 11.09 Headings and Cross-References. The various headings in this Agreement are included for convenience only and shall not
affect the meaning or interpretation of any provision of this Agreement.

SECTION 11.10 Assignment to Indenture Trustee. The
Transferor hereby acknowledges and consents to any mortgage, pledge, assignment and grant of a security interest by the Issuer to the Indenture Trustee pursuant to the Indenture for the benefit of the Beneficiaries and (only to the extent expressly
provided therein) the Registered Owners of all right, title and interest of the Issuer in, to and under the Purchased Property and/or the assignment of any or all of the Issuers rights and obligations hereunder to the Indenture Trustee.

SECTION 11.11 No Petition Covenants. Notwithstanding any prior termination of this Agreement, the Servicer and the Transferor shall
not, prior to the date which is one (1) year and one (1) day after the Outstanding Obligations shall have been paid in full, acquiesce, petition or otherwise invoke or cause the Transferor or the Issuer to invoke the process of any court
or government authority for the purpose of commencing or sustaining a case against the Transferor or the Issuer under any federal or state bankruptcy, insolvency or similar law or appointing a receiver, liquidator, assignee, trustee, custodian,
sequestrator or other similar official of the Transferor or the Issuer or any substantial part of its property, or ordering the winding up or liquidation of the affairs of the Transferor or the Issuer. The covenants set forth in this
Section 11.11 shall survive the termination of this Agreement.



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SECTION 11.12 Limitation of Liability of the Trustees.

(a) Notwithstanding anything contained herein to the contrary, this Agreement has been acknowledged and accepted by The Bank of New York Mellon not in its
individual capacity but solely as Indenture Trustee and in no event shall The Bank of New York Mellon have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuer hereunder or in any of the
certificates, notices or agreements delivered pursuant hereto, as to all of which recourse shall be had solely to the assets of the Issuer. For all purposes of this Agreement in performance of its rights and duties hereunder, the Indenture Trustee
shall be entitled to the benefits of Article VI of the Indenture.

(b) Notwithstanding anything contained herein to the contrary, this
Agreement has been executed by Wilmington Trust Company not in its individual capacity but solely in its capacity as Owner Trustee of the Issuer and in no event shall Wilmington Trust Company in its individual capacity or, except as expressly
provided in the Trust Agreement, as Owner Trustee of the Issuer have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuer hereunder or in any of the certificates, notices or agreements delivered
pursuant hereto, as to all of which recourse shall be had solely to the assets of the Issuer. For all purposes of this Agreement, in the performance of its duties or obligations hereunder or in the performance of any duties or obligations of the
Issuer hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Article VI of the Trust Agreement.

SECTION 11.13 Survival of Agreement. All covenants, agreements, representations and warranties made herein, in the Basic Documents and in the other agreements delivered pursuant hereto shall survive the pledge
of the Trust Estate and the issuance of the Notes and shall continue in full force and effect until payments in full of the Notes and all amounts owing to the Indenture Trustee and the Beneficiaries hereunder and under the Basic Documents, as
applicable; provided that on the Receivables Payoff Date, all covenants, agreements, representations and warranties made herein with respect to the Receivables and the Related Assets with respect thereto shall be of no further force and effect.

SECTION 11.14 Cooperation and Further Assurances. (a) Each of the parties hereto hereby agrees that it will cooperate in good
faith and use commercially reasonable efforts to assist the Administrative Agent in any sale or securitization of the Specified Assets to take place after the Loan Conversion Date; provided, however, that each of the parties hereto
agrees that it shall not be obligated to take any action (including making any changes or amendments to any of the Basic Documents), or provide any consent if such party would thereby incur any material obligations or liabilities as a result
thereof; provided, further, that the Administrative Agent shall, at the written request of the assisting party, offer such party indemnification reasonably satisfactory to such party against any costs, liabilities and expenses incurred
in providing any requested assistance.

(b) In the event of any Regulatory Change (as defined in the Note Purchase Agreement) which results
in either (i) a determination that either (x) the Issuer is not a Qualified Special Purpose Entity or (y) any CP Conduit is not a Person, in either case that is not required, under generally accepted accounting principles, to
consolidate its financial statements with any other entity, or (ii) a cost arising under Section 2.3 of the Note Purchase Agreement, the parties hereto agree to negotiate in good faith to amend the Basic Documents in order to eliminate the



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consolidation requirement; provided, however, that no party shall be obligated to take any action (or make any amendments) if in the reasonable
opinion of such party any such amendment to the Basic Documents will be unlawful or otherwise disadvantageous or inconsistent with its policies or regulatory restrictions or result in any liability, unreimbursed cost or expense to such party.

SECTION 11.15 No Recourse. It is expressly understood and agreed by the parties hereto that (a) this Agreement is executed and
delivered by Wilmington Trust Company, not individually or personally but solely as trustee of the Issuer, in the exercise of the powers and authority conferred and vested in it, (b) each of the representations, undertakings and agreements
herein made on the part of the Issuer is made and intended not as personal representations, undertakings and agreements by Wilmington Trust Company but is made and intended for the purpose of binding only the Issuer, (c) nothing herein
contained shall be construed as creating any liability on Wilmington Trust Company, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties
hereto and by any Person claiming by, through or under the parties hereto and (d) under no circumstances shall Wilmington Trust Company be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the
breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Agreement or any other related documents.

[Signature Pages Follow]



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IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by their respective
officers as of the day and year first above written.



ALLIANCE LAUNDRY EQUIPMENT RECEIVABLES TRUST
2009-ABy:

WILMINGTON TRUST COMPANY,not in its individual capacity but solely as Owner
TrusteeBy:Name:Title:




| |  |     |  |                                
| |  | --- |  | -------------------------------
| |  | S-1 |  | Pooling and Servicing Agreement



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ALLIANCE LAUNDRY EQUIPMENT RECEIVABLES 2009
LLC, as TransferorBy:Name:Title:ALLIANCE LAUNDRY SYSTEMS LLC, as Servicer
and OriginatorBy:Name:Title:




| |  |     |  |                                
| |  | --- |  | -------------------------------
| |  | S-2 |  | Pooling and Servicing Agreement



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Acknowledged and Agreed:



|                                                                                            |  | 
|------------------------------------------------------------------------------------------- |  | 
|THE BANK OF NEW YORK MELLON, not in its
individual capacity but solely as Indenture Trustee
|                                                                                            | 
|By:                                                                                         |  | 
|Name:                                                                                       |  | 
|Title:                                                                                      |  | 



| |  |     |  |                                
| |  | --- |  | -------------------------------
| |  | S-3 |  | Pooling and Servicing Agreement



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EXHIBIT A-1

Form of Initial PSA Assignment

June 26, 2009

For value received, in accordance with the Pooling and Servicing Agreement, dated as of June 26, 2009 (the Pooling and Servicing
Agreement), among Alliance Laundry Systems LLC, a Delaware limited liability company (ALS), Alliance Laundry Equipment Receivables 2009 LLC, a Delaware limited liability company (the Transferor), and Alliance Laundry
Equipment Receivables Trust 2009-A (the Issuer), the Transferor does hereby sell, assign, transfer and otherwise convey unto the Issuer, without recourse (except as otherwise provided in the Pooling and Servicing Agreement), all
right, title and interest of the Transferor in, to and under (a) all Second Tier Purchased Assets that existed on the Closing Date; and (b) any income and Proceeds of the property described in clause (a) above.

The foregoing sale does not constitute and is not intended to result in any assumption by the Issuer of any obligation of the undersigned to the
Obligors, insurers or any other Person in connection with the Second Tier Purchased Assets or any agreement or instrument relating to any of them.

As set forth in Section 2.06 of the Pooling and Servicing Agreement, the parties hereto intend that the transactions set forth herein constitute an absolute assignment by the Transferor to the Issuer on the Closing Date of all the
Transferors right, title and interest in and to the Second Tier Purchased Assets. In the event any transaction set forth herein does not constitute an absolute assignment, it shall constitute the granting of a security interest by the
Transferor in favor of the Issuer in such assets as provided in Section 2.06 of the Pooling and Servicing Agreement.

This Initial PSA
Assignment is made pursuant to and affirms the representations, warranties and agreements on the part of the undersigned contained in the Pooling and Servicing Agreement and is to be governed by the Pooling and Servicing Agreement. The undersigned
certifies that all conditions precedent under the Basic Documents to transfer to the Issuer of the Second Tier Purchased Assets conveyed hereby have been satisfied.

Capitalized terms used herein and not otherwise defined shall have the meaning assigned to them in the Pooling and Servicing Agreement.

All questions concerning the construction, validity and interpretation of this Agreement shall be governed by and construed and enforced in accordance with the internal laws of the State of New York, without giving
effect to any choice of law or conflict provision or rule (whether of the State of New York or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of New York; provided, however
that the duties and immunities of the Owner Trustee hereunder shall be governed by the laws of the State of Delaware.

*  *  *  *  *



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IN WITNESS WHEREOF, the undersigned has caused this Initial PSA Assignment to be duly executed as of the
day and year first above written.



ALLIANCE LAUNDRY EQUIPMENT RECEIVABLES 2009 LLCBy:Name:Title:




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EXHIBIT A-2

Form of Additional PSA Assignment

[Date]

For value received, in accordance with the Pooling and Servicing Agreement, dated as of June 26, 2009 (the Pooling and Servicing
Agreement), among Alliance Laundry Systems LLC, a Delaware limited liability company (ALS), Alliance Laundry Equipment Receivables 2009 LLC, a Delaware limited liability company (the Transferor), and Alliance Laundry
Equipment Receivables Trust 2009-A (the Issuer), the Transferor does hereby sell, assign, transfer and otherwise convey unto the Issuer, without recourse (except as otherwise provided in the Pooling and Servicing Agreement), all
right, title and interest of the Transferor in, to and under (a) all Specified Assets that are Equipment Loans and the Related Assets with respect thereto that existed and were acquired by the Transferor on such Purchase Date; and (b) any
income and Proceeds of the property described in clause (a) above.

The foregoing sale does not constitute and is not intended
to result in any assumption by the Issuer of any obligation of the undersigned to the Obligors, insurers or any other Person in connection with the Loans, any Insurance Policies or any agreement or instrument relating to any of them.

As set forth in Section 2.06 of the Pooling and Servicing Agreement, the parties hereto intend that the transactions set forth herein constitute an
absolute assignment by the Transferor to the Issuer on the Purchase Date of all the Transferors right, title and interest in and to the Second Tier Purchased Assets. In the event any transaction set forth herein does not constitute an absolute
assignment, it shall constitute the granting of a security interest by the Transferor in favor of the Issuer in such assets as provided in Section 2.06 of the Pooling and Servicing Agreement.

This Additional PSA Assignment is made pursuant to and affirms the representations, warranties and agreements on the part of the undersigned contained in
the Pooling and Servicing Agreement and is to be governed by the Pooling and Servicing Agreement. The undersigned certifies that all conditions precedent under the Basic Documents to the transfer of the Second Tier Purchased Assets to the Issuer
conveyed hereby have been satisfied.

Capitalized terms used herein and not otherwise defined shall have the meaning assigned to them in
the Pooling and Servicing Agreement.

All questions concerning the construction, validity and interpretation of this Agreement shall be
governed by and construed and enforced in accordance with the internal laws of the State of New York, without giving effect to any choice of law or conflict provision or rule (whether of the State of New York or any other jurisdiction) that would
cause the application of the laws of any jurisdiction other than the State of New York; provided, however that the duties and immunities of the Owner Trustee hereunder shall be governed by the laws of the State of Delaware.



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IN WITNESS WHEREOF, the undersigned has caused this Replacement Assignment to be duly executed as of the
day and year first above written.



ALLIANCE LAUNDRY EQUIPMENT RECEIVABLES 2009 LLCBy:Name:Title:




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EXHIBIT A-3

Form of Substitution Assignment

[Date]

For value received, in accordance with the Pooling and Servicing Agreement, dated as of June 26, 2009 (the Pooling and Servicing
Agreement), among Alliance Laundry Systems LLC, a Delaware limited liability company (ALS), Alliance Laundry Equipment Receivables 2009 LLC, a Delaware limited liability company (the Transferor), and Alliance Laundry
Equipment Receivables Trust 2009-A (the Issuer), the Transferor does hereby sell, assign, transfer and otherwise convey unto the Issuer, without recourse (except as otherwise provided in the Pooling and Servicing Agreement), all
right, title and interest of the Transferor in, to and under (a) the Substitute Loans, including all documents and instruments evidencing or governing the Substitute Loans and all Loan Files relating thereto, identified on the Schedule of Loans
attached hereto (the Substitute Loans) and all monies paid or payable thereon (including Liquidation Proceeds) on or after or due and payable, but in each case not paid, as of
 (the Substitution Cutoff Date); (b) the Equipment, including all security interests therein,
granted by Obligors pursuant to such Substitute Loans and any other collateral securing such Substitute Loans; (c) any Insurance Policies, and Proceeds thereof, and all rights and benefits thereunder, with respect to such Equipment and any
other collateral securing such Substitute Loans; (d) with respect to such Substitute Loans, any Guaranties, and Proceeds thereof, and all rights and benefits thereunder; (e) all funds on deposit from time to time in the Lockbox or in the
Lockbox Accounts with respect to such Substitute Loans and all Proceeds thereof; (f) the Purchase Agreement with respect to such Substitute Loans, and the other Basic Documents (other than the Trust Agreement and the documents and certificates
executed in connection with the foregoing), including the right of the Transferor to cause ALS to perform its obligations thereunder (including the obligation to repurchase such Substitute Loans under certain circumstances); and (g) any income
and Proceeds of the property described in clauses (a) through (f) above.

The foregoing sale does not constitute
and is not intended to result in any assumption by the Issuer of any obligation of the undersigned to the Obligors, insurers or any other Person in connection with the Second Tier Purchased Assets or any agreement or instrument relating to any of
them.

As set forth in Section 2.06 of the Pooling and Servicing Agreement, the parties hereto intend that the transactions set forth
herein constitute an absolute assignment by the Transferor to the Issuer on the Substitution Date of all the Transferors right, title and interest in and to the Second Tier Purchased Assets. In the event any transaction set forth herein does
not constitute an absolute assignment, it shall constitute the granting of a security interest by the Transferor in favor of the Issuer in such assets as provided in Section 2.06 of the Pooling and Servicing Agreement.

This Substitution Assignment is made pursuant to and affirms the representations, warranties and agreements on the part of the undersigned contained in
the Pooling and Servicing



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Agreement and is to be governed by the Pooling and Servicing Agreement. The undersigned certifies that all conditions precedent under the Basic Documents to
transfer to the Issuer of the Second Tier Purchased Assets conveyed hereby have been satisfied.

Capitalized terms used herein and not
otherwise defined shall have the meaning assigned to them in the Pooling and Servicing Agreement.

All questions concerning the
construction, validity and interpretation of this Agreement shall be governed by and construed and enforced in accordance with the internal laws of the State of New York, without giving effect to any choice of law or conflict provision or rule
(whether of the State of New York or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of New York; provided, however that the duties and immunities of the Owner Trustee
hereunder shall be governed by the laws of the State of Delaware.

*  *  *  *  *



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IN WITNESS WHEREOF, the undersigned has caused this Substitution Assignment to be duly executed as of the
day and year first written above.



ALLIANCE LAUNDRY EQUIPMENT RECEIVABLES 2009 LLCBy:Name:Title:




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EXHIBIT B

Locations of Schedule of Loans And Receivables

The Schedule of Loans and Receivables is on file at
the offices of:



|1. | The Indenture Trustee
|-- | ---------------------



|2. | The Owner Trustee
|-- | -----------------



|3. | Alliance Laundry Systems LLC
|-- | ----------------------------



|4. | Alliance Laundry Equipment Receivables 2009 LLC
|-- | -----------------------------------------------



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EXHIBIT C

[Reserved]



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EXHIBIT D

Form of Servicers Certificate

[ALS to provide]



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EXHIBIT E

Form of Securities Account Control Agreement



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SECURITIES ACCOUNT CONTROL AGREEMENT

This Securities Account Control Agreement (this Agreement) dated as of June 26, 2009, among Alliance Laundry Equipment Receivables Trust
2009-A (the Debtor), THE BANK OF NEW YORK MELLON, a New York banking corporation, as Indenture Trustee (the Secured Party) and THE BANK OF NEW YORK MELLON (the Securities Intermediary) is entered into pursuant to
the provisions of Section 6.07(b) of the Pooling and Servicing Agreement, dated as of June 26, 2009, among Alliance Laundry Systems LLC, Alliance Laundry Equipment Receivables 2009 LLC and the Debtor (the Pooling and Servicing
Agreement). All references herein to the UCC shall mean the Uniform Commercial Code as in effect in the State of New York.

Section 1.Establishment of Securities Accounts. The Securities Intermediary hereby confirms and agrees that:

(a) The Secured Party was granted by the Debtor a security interest in the Securities Account (as defined below) pursuant to the Indenture, dated as of June 26, 2009, between the Debtor and the Secured Party (the
Indenture);

The Securities Intermediary has established in the name of the Secured Party the Alliance Laundry Equipment
Receivables Trust 2009-A Loan Collection Account (Account No. 505600), the Alliance Laundry Equipment Receivables Trust 2009-A Receivables Collection Account (Account No. 505601) and the Alliance Laundry Equipment Receivables Trust 2009-A
Reserve Account (Account No. 505602) (collectively the Securities Account). The Securities Intermediary shall not change the names or account numbers of the Securities Account without the prior written consent of the Secured Party;

(b) The Securities Account shall be under the sole dominion and control at all times of the Secured Party. The Securities Intermediary
shall comply with all entitlement orders (as defined in Section 8-102(a)(8) of the UCC) originated by the Secured Party without the further consent of the Debtor or any other person or entity. Any securities or other property underlying any
financial assets credited to the Securities Account shall be registered in the name of the Securities Intermediary, indorsed to the Securities Intermediary or in blank or credited to another securities account maintained in the name of the
Securities Intermediary and in no case will any financial asset credited to a Securities Account be registered in the name of the Debtor, payable to the order of the Debtor or specially indorsed to the Debtor except to the extent the foregoing have
been specially indorsed to the Securities Intermediary or in blank;

(c) All property delivered to the Securities Intermediary pursuant to
the Indenture or the Pooling and Servicing Agreement shall be promptly credited to the applicable Securities Account in accordance with the terms thereof; and

(d) The Securities Account are accounts to which financial assets are or may be credited.

Section 2.Financial Assets Election. The Securities Intermediary hereby agrees that each item of property (whether investment property, financial asset, security, instrument, credit balances or uninvested
funds) credited to the Securities Account shall be treated as a financial asset within the meaning of Section 8-102(a)(9) of the UCC.



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Section 3.Entitlement Orders. Notwithstanding Section l(b), the Securities
Intermediary may comply with the entitlement orders (as defined in Section 8-102(a)(8) of the UCC) concerning the Securities Account originated by the Debtor (to the extent they do not conflict with the requirements of the Indenture and the
Pooling and Servicing Agreement) prior to receipt from the Secured Party of a Notice of Sole Control in substantially the form set forth in Exhibit A hereto and shall, after the receipt from the Secured Party of a Notice of Sole Control,
cease complying with the entitlement orders concerning the Securities Account originated by the Debtor and comply solely with the entitlement orders originated by the Secured Party (without the requirement of notice to or any action by any other
person, including the Debtor).

Section 4.Subordination of Lien, Waiver of Set-Off. In the event that the Securities
Intermediary has or subsequently obtains by agreement, by operation of law or otherwise a security interest in the Securities Account or any security entitlement credited thereto, the Securities Intermediary hereby agrees that such security interest
shall be subordinate to the security interest of the Secured Party created by the Indenture. The financial assets and other items deposited to the Securities Account will not be subject to deduction, set-off, bankers lien, or any other right
in favor of any person other than as created pursuant to the Indenture.

Section 5.Choice of Law. This Agreement and
the Securities Account (as well as the securities entitlements related thereto) shall be governed by the laws of the State of New York. Regardless of any provision in any other agreement, for purposes of the UCC, the State of New York shall be
deemed to be the Securities Intermediarys jurisdiction.

Section 6.Conflict with Other Agreements.

(a) In the event of any conflict between this Agreement (or any portion thereof) and any other agreement now existing or hereafter entered into, the terms
of this Agreement shall prevail; and

(b) No amendment or modification of this Agreement or waiver of any right hereunder shall be binding
on any party hereto unless it is in writing, signed by all of the parties hereto and consented to in writing by the Required Noteholders.

Section 7.Adverse Claims. Except for the claims and interest of the Secured Party and of the Debtor in the Securities Account, the Securities Intermediary does not know of any claim to, or interest in, the Securities
Account or in any financial asset credited thereto. If any person asserts any lien, encumbrance or adverse claim (including any writ, garnishment, judgment, warrant of attachment, execution or similar process) against the Securities Account or in
any financial asset carried therein, the Securities Intermediary will promptly notify the Debtor, the Secured Party, the Servicer and the Administrative Agent thereof.

Section 8.Maintenance of the Securities Account. In addition to, and not in lieu of, the obligation of the Securities Intermediary to honor entitlement orders as agreed in Section 1(b)
and Section 3, the Securities Intermediary agrees to maintain the Securities Account as follows:

(a) Notice of Sole
Control. If at any time the Secured Party delivers to the Securities Intermediary a Notice of Sole Control, the Securities Intermediary agrees that after receipt of such notice it will comply only with entitlement orders and other directions
with respect to the Securities Account originated by the Secured Party and will cease complying with any such entitlement orders or other directions originated by or on behalf of the Debtor;



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(b) Eligible Investments. Until such time as the Securities Intermediary receives a Notice of Sole
Control signed by the Secured Party, the Securities Intermediary shall, notwithstanding any entitlement orders or other directions to the contrary from the Debtor, make all Eligible Investments in accordance with the Pooling and Servicing Agreement;

(c) Statements and Confirmations. The Securities Intermediary will promptly send copies of all statements, confirmations and other
correspondence concerning the Securities Account and/or any financial assets credited thereto simultaneously to each of the Debtor, the Secured Party, the Servicer, the Administrative Agent and at the address referenced in Section 12 of
this Agreement; and

(d) Tax Reporting. All items of income, gain, expense and loss recognized in the Securities Account shall be
reported to the Internal Revenue Service and all state and local taxing authorities under the name and taxpayer identification number of the Debtor.

Section 9.Representations, Warranties and Covenants of the Securities Intermediary. The Securities Intermediary hereby makes the following representations, warranties and covenants:

(a) The Securities Account has been established as set forth in Section 1 above and the Securities Account will be maintained in the manner
set forth herein until termination of this Agreement;

(b) The Securities Account constitutes a securities account within the
meaning of Section 8-501(a) of the UCC;

(c) The Securities Intermediary shall not change the name or the account number of the
Securities Account without the prior written consent of the Secured Party;

(d) No financial asset is or will be registered in the name of
the Debtor, payable to Debtors order, or specifically indorsed to the Debtor, except to the extent such financial asset has been indorsed to the Securities Intermediary or in blank;

(e) This Agreement is the valid and legally binding obligations of the Securities Intermediary; and

(f) There are no other agreements entered into between the Securities Intermediary and the Debtor or any other person with respect to the Securities
Accounts, and the Securities Intermediary has not entered into, and until the termination of this Agreement will not enter into, any agreement with any other person relating to the Securities Account and/or any financial asset credited thereto
pursuant to which the Securities Intermediary has agreed to comply with entitlement orders of such person. The Securities Intermediary has not entered into,



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and until the termination of this Agreement will not enter into, any agreement with the Debtor or the Secured Party purporting to limit or condition the
obligation of the Securities Intermediary to comply with entitlement orders as set forth in Section 3.

Section 10.Granting Clause. Without limiting the terms of the Indenture, as security for all amounts owed and any remaining payments of interest and principal under the Indenture, the Debtor hereby pledges, assigns and conveys to the Secured Party
for the benefit of the Beneficiaries, all of its right, title and interest in and to the Securities Account and all securities, cash, investments or other financial assets now or hereafter credited thereto.

Section 11.Successors, Assignment. The terms of this Agreement shall be binding upon, and shall inure to the benefit of, the parties
hereto and their respective corporate successors or heirs and personal representatives who obtain such rights solely by operation of law. The Secured Party may assign its rights hereunder only with the express written consent of the Securities
Intermediary and by sending written notice of such assignment to the Debtor.

Section 12.Notices. Any communication,
notice or demand to be given hereunder shall be duly given hereunder if given in the form and manner, and delivered to the address set forth in the Pooling and Servicing Agreement, or in such other form and manner or to such other address as shall
be designated by any party hereto to each other party hereto in a written notice delivered in accordance with the terms of the Pooling and Servicing Agreement.

Section 13.Termination. The rights and powers granted herein to the Secured Party, granted in order to perfect its security interest in the Securities Account, are powers coupled with interest and
will neither be affected by the bankruptcy of the Debtor nor by the lapse of time. The obligations of the Securities Intermediary hereunder shall continue in effect until the security interests of the Secured Party in the Securities Account have
been terminated and the Secured Party has notified the Securities Intermediary and the Administrative Agent of such termination in writing. The Secured Party agrees to provide Notice of Termination in substantially the form of Exhibit B
hereto to the Securities Intermediary and the Administrative Agent upon the request of the Debtor on or after the termination of the Secured Partys interest in the Securities Account pursuant to the terms of this Agreement.

Section 14.Counterparts. This Agreement may be executed in any number of counterparts, all of which shall constitute one and the same
instrument, and any party hereto may execute this Agreement by signing and delivering one or more counterparts.

Section 15.No Recourse. It is expressly understood and agreed by the parties hereto that (a) this Agreement is executed and delivered by Wilmington Trust Company, not individually or personally but solely as trustee of the Debtor, in the
exercise of the powers and authority conferred and vested in it, (b) each of the representations, undertakings and agreements herein made on the part of the Debtor is made and intended not as personal representations, undertakings and
agreements by Wilmington Trust Company but is made and intended for the purpose of binding only the Debtor, (c) nothing herein contained shall be construed as creating any liability on Wilmington Trust Company, individually or personally, to
perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto and (d)



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under no circumstances shall Wilmington Trust Company be personally liable for the payment of any indebtedness or expenses of the Debtor or be liable for the
breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Debtor under this Agreement or any other related documents.

Section 16.Incorporation by Reference. In connection with its appointment and acting hereunder, Secured Party (as Secured Party and Securities Intermediary) is entitled to all rights, privileges,
protections, benefits, immunities and indemnities to the extent provided to it as Indenture Trustee under the Indenture.

[The remainder of
this page intentionally left blank.]



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IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above
written.



Debtor:Alliance Laundry Equipment Receivables Trust2009-ABy:

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


By:Name:Title:Secured Party:THE BANK OF NEW YORK MELLON, as Indenture Trustee for the benefit of the Beneficiaries under the IndentureBy:Name:Title:Securities Intermediary:THE BANK OF NEW YORK MELLONBy:Name:Title:




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EXHIBIT F

Form of Borrowing Base Certificate

[Natixis/ALS to provide]



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EXHIBIT G

Agreed Upon Procedures

[See Attached]



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APPENDIX A

PART I - DEFINITIONS

All terms defined in this Appendix shall have the defined meanings when used
in the Basic Documents, unless otherwise defined therein.

Accountants Report: As defined in Section 5.02 of the Pooling
and Servicing Agreement.

Accounting Date: With respect to a Distribution Date, the last day of the related Monthly Period, or, with
respect to the Distribution Date, if any, that occurs in the same calendar month as the Closing Date, the close of business on the Closing Date.

Accounts: Has the meaning given to such term in Section 9-102(a) of the UCC.

Act: An Act as specified in
Section 12.3(a) of the Indenture.

Additional PSA Assignment: The assignment substantially in the form of Exhibit A-2 to
the Pooling and Servicing Agreement.

Adjusted Eurodollar Rate: On any day, an interest rate per annum equal to the quotient,
expressed as a percentage and rounded upwards (if necessary) to the nearest 1/100 of 1%, obtained by dividing (i) LIBOR on such day by (ii) the decimal equivalent of 100% minus the Eurodollar Reserve Percentage on such day.

Adjusted Receivables Balance: As of any date of determination, the excess of (x) the then Gross Receivables Balance over (y) the
sum of the Unpaid Balances of all Receivables owned by the Issuer that are not Eligible Receivables.

Administration Agreement: That
certain Administration Agreement, dated as of June 26, 2009, among ALS, as Administrator, the Trust and the Indenture Trustee, as amended and supplemented from time to time.

Administrative Agent: As defined in the Note Purchase Agreement.

Administrative Loan: A Loan which the Servicer is required to purchase as of an Accounting Date pursuant to Section 3.08 of the Pooling and Servicing Agreement or which the Servicer has elected to
repurchase as of an Accounting Date pursuant to Section 10.01 of the Pooling and Servicing Agreement.

Administrative Purchase
Payment: With respect to a Distribution Date and to an Administrative Loan purchased as of the related Accounting Date, the Unpaid Balance of a Purchased Equipment Loan (as each such term is defined in the Purchase Agreement).

Administrator: ALS or any successor Administrator under the Administration Agreement.



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Advances: Advances made on the Equipment Loan Notes and Receivables Notes in accordance with the
Note Purchase Agreement.

Adverse Claim: A lien, security interest, charge or encumbrance, or other right or claim in, of or on any
Persons assets or properties in favor of any other Person.

Affiliate: With respect to any specified Person, any other Person
controlling, controlled by or under common control with such specified Person. For the purposes of this definition, control when used with respect to any specified Person means the power to direct the management and policies of such
Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms controlling and controlled have meanings correlative to the foregoing.

Agency Office: The Bank of New York Mellon, 101 Barclay Street, 4 West, New York, New York 10286, Attention Asset Backed Securities Group/Alliance
Laundry Equipment Receivables Series 2009-A/Antonio Vayas.

Agents: As defined in the Note Purchase Agreement.

Aggregate Equipment Loan Note Principal Balance: As of any date of determination, the sum of the Note Principal Balances of all Equipment Loan
Notes then Outstanding.

Aggregate Initial Loan Balance: The sum of the Initial Loan Balances of the Loans as of the Initial Cutoff
Date, which is $275,016,210.

Aggregate Loan Balance: The sum of the Loan Balances of all outstanding Loans (other than Defaulted
Equipment Loans) held by the Trust, as of any date.

Aggregate Note Principal Balance: As of any date of determination, the sum of
the Note Principal Balances for all Notes then Outstanding.

Aggregate Receivables Note Principal Balance: As of any date of
determination, the sum of the Note Principal Balances of all Receivables Notes then Outstanding.

ALER: Alliance Laundry Equipment
Receivables 2009 LLC, a Delaware limited liability company.

ALERT 2005 Transaction: That certain trade receivables and equipment
loan funding facility pursuant to an Indenture, dated as of June 28, 2005, between Alliance Laundry Equipment Receivables Trust 2005-A and the Indenture Trustee, and all other documents related thereto.

ALH: Alliance Laundry Holdings LLC, a Delaware limited liability company.

ALS: Alliance Laundry Systems LLC, a Delaware limited liability company.

Alternative Rate: On any day, an interest rate per annum equal to fifty basis points (0.50%) per annum above the Adjusted Eurodollar Rate;
provided, however, that the Alternative



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Rate on any such day for the outstanding principal amount of any Advance, made by an Agent or a Noteholder associated with such Agent, allocated to an
Interest Period shall be the Base Rate if (A)(i) on or before the third Business Day prior to such Interest Period, such Agent shall have notified the Indenture Trustee and the Issuer that a Eurodollar Disruption Event has occurred and is continuing
and (ii) as a result thereof, such Advance was funded by such Agent and its associated Noteholders, as the case may be, by a source of funds for which interest is determined by reference to the Base Rate or (B) an Interest Period is
commenced as a result of the events described in the proviso to the definition of Interest Period.

Annual Percentage Rate: With
respect to a Loan, the annual rate of finance charges stated in such Loan, stated as a percentage.

Applicable Law: With respect to
any Person, all existing laws, rules, regulations (including proposed, temporary and final income tax regulations), statutes, treaties, codes, ordinances, permits, certificates, orders and licenses of and interpretations by any Governmental
Authority and judgments, decrees, injunctions, writs, or orders of any court, arbitrator or other administrative, judicial, or quasi-judicial tribunal or agency of competent jurisdiction applicable to such Person.

Applicable Margin: As defined in the Applicable Margin Fee Letter.

Applicable Margin Fee Letter: The letter agreement among the Issuer, the Noteholders and the Indenture Trustee.

Assignment: Any Initial Assignment or Subsequent Assignment.

Assignment of Proceeds
Receivables: A Receivable owing from a distributor that is to be repaid from the Proceeds of a Loan.

Authorized Officer: With
respect to the Issuer, any officer of the Owner Trustee who is authorized to act for the Owner Trustee in matters relating to the Issuer and who is identified on the list of Authorized Officers delivered by the Owner Trustee to the Indenture Trustee
on the Closing Date (as such list may be modified or supplemented from time to time thereafter) and, so long as the Administration Agreement is in effect, any Vice President or more senior officer of the Administrator who is authorized to act for
the Administrator in matters relating to the Issuer and to be acted upon by the Administrator pursuant to the Administration Agreement and who is identified on the list of Authorized Officers delivered by the Administrator to the Indenture Trustee
on the Closing Date (as such list may be modified or supplemented from time to time thereafter).

Available Amount: Either or both,
as the context may require, of the Equipment Loan Available Amount or the Receivables Available Amount.

Available Drawing Amount:
As of any date of determination, an amount equal to the product of (x) ten percent (10%) or such lesser percentage (subject to a floor of 5.75%) as is necessary to ensure that both the Equipment Loan Required Credit Support and the
Receivables Required Credit Support are fully covered with no resulting Borrowing Base Shortfall at such time and (y) the sum of (i) the Equipment Loan Collateral Value as of the most recent Equipment



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Loan Borrowing Date or Distribution Date and (ii) the Receivables Collateral Value as of the most recent Receivables Borrowing Date or Distribution
Date; provided, however, that upon the occurrence of an Event of Default or Rapid Amortization Event, the Equipment Loan Collateral Value and the Receivables Collateral Value, as the case may be, for purposes of the preceding sentence,
shall be determined as of the Accounting Date immediately prior to the occurrence of such event; and provided, further, that the Available Drawing Amount shall be subject to adjustment pursuant to Section 3.27(f) of the Indenture.

Notwithstanding the foregoing, at all times on and after the Loan Conversion Date (except for such designation being due to the operation
of clause (x) of the definition thereof) the amount set forth in this definition of Available Drawing Amount shall be equal to the sum of (A) the greater of (i) 5.75% of the Net Equipment Loans Balance, as of the Loan Conversion Date
or (ii) ten percent (10%) of the Net Equipment Loans Balance or such lesser percentage as is necessary to ensure that the Equipment Loan Required Credit Support is fully covered with no resulting Borrowing Base Shortfall at such time and
(B) ten percent (10%) of the Receivables Required Credit Support or such lesser percentage as is necessary to ensure that the Receivables Required Credit Support is fully covered with no resulting Borrowing Base Shortfall at such time.

Backup Servicer: The entity designated as such pursuant to Section 3.13 of the Pooling and Servicing Agreement; initially,
Lyon.

Backup Servicer Fee: The amount payable to the Backup Servicer pursuant to Section 6 of the Backup Servicing Agreement.

Backup Servicing Agreement: Initially, the Backup Servicing Agreement, dated as of June 26, 2009, among the Servicer, the
Issuer, the Indenture Trustee and Lyon; and any successor Backup Servicing Agreement entered into among the entity designated as Backup Servicer pursuant to 3.13 of the Pooling and Servicing Agreement, the Servicer, the Issuer and the Indenture
Trustee.

Balloon Loan: Any Loan for which the principal portion of the final Scheduled Payment for such Loan exceeds the principal
amount of the Scheduled Payment for the prior month.

Base Rate: On any date, a fluctuating rate of interest per annum equal to the
highest of (i) the rate of interest in effect for such day as publicly announced from time to time by the applicable Managing Agent as its prime rate for such day, (ii) the Federal Funds Rate plus one-half of one percent
(0.50%) per annum, and (iii) if the certification described in part (b) of the definition of Eurodollar Disruption Event is in effect (except when the Adjusted Eurodollar Rate is unavailable during the circumstances in part (a) or
part (c) of such definition), the sum of the (x) Adjusted Eurodollar Rate plus one-half of one percent (0.50%) per annum plus (y) the Market Disruption Spread.

Basic Documents: The Certificate of Trust, the Trust Agreement, the Purchase Agreement, the Pooling and Servicing Agreement, any Assignment, the
Custodial Agreement, the Administration Agreement, the Indenture, the Note Purchase Agreement, the LLC Agreement, the Certificate of Formation of the Transferor, the Backup Servicing Agreement, any Interest Rate Cap Agreements, the Applicable Margin
Fee Letter, the Lockbox Agreements, the Control Agreement and the other documents and certificates delivered in connection therewith.



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Beneficiaries: The Noteholders and the Administrative Agent.

Borrowing Base Certificate: The certificate substantially in the form of Exhibit F to the Pooling and Servicing Agreement.

Borrowing Base Shortfall: As of any date of determination, either or both, as the context may require, of a Loan Borrowing Base Shortfall or a
Receivables Borrowing Base Shortfall.

Business Day: Any day other than a Saturday, a Sunday or any other day on which banking
institutions in New York, New York or Chicago, Illinois or, if a successor Servicer shall have been appointed, the location of the successor Servicers principal banking institution may, or are required to, remain closed.

Business Trust Statute: Chapter 38 of Title 12 of the Delaware Code, 12 Del. Code § 3801 et seq., as the same may be
amended from time to time.

Canadian Translation Premium: An amount equal to the adjustment associated with the translation of the
Equipment Loans denominated in Canadian dollars to Dollars.

Carrying Cost Reserve: As defined in Section 6.04(d) of the
Pooling and Servicing Agreement.

Certificate: As defined in the Trust Agreement.

Certificate Distribution Account: As defined in the Trust Agreement.

Certificate of Formation: The certificate of formation of the Transferor to be filed for the Transferor pursuant to and in accordance with the
Delaware Limited Liability Company Act.

Certificate of Trust: The certificate of trust of the Issuer substantially in the form of
Exhibit B to the Trust Agreement to be filed for the Trust pursuant to Section 3810(a) of the Business Trust Statute.

Certificate Register: As defined in the Trust Agreement.

Certificateholder: As defined in the Trust Agreement.

Change of Control: Either one of the following:

(a) the failure of the Transferor to own, free and clear of any Adverse Claim and on a fully diluted basis, 100% of the outstanding Equity Interests of the Issuer; or

(b) the failure of ALS to own, free and clear of any Adverse Claim and on a fully diluted basis, at least 100% of the outstanding Equity Interests of the
Transferor.



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Chargebacks: The sum of the Unpaid Balances of all Receivables of an Obligor created in connection
with the partial payment of previously existing Receivables of such Obligor.

Chattel Paper: Has the meaning given to such term in
Section 9-102(a) of the UCC.

Closing Date: June 26, 2009.

Code: The Internal Revenue Code of 1986, as amended from time to time, and the Treasury Regulations promulgated thereunder.

Collateral: The Trust Estate.

Collateral Documents: As defined in Section 2.09 of the Pooling and Servicing Agreement.

Collateral Value: The
sum of (A) the Equipment Loan Collateral Value and (B) the Receivables Collateral Value.

Collection Accounts:
Collectively, the Loan Collection Account and the Receivables Collection Account.

Collections: As defined in the Purchase
Agreement.

Commercial Paper: Commercial paper issued by, or on behalf of, a CP Conduit in order to fund or maintain its interest in
a Note.

Consolidated Interest Coverage Ratio: As defined in the Credit Agreement; provided, that if the Credit Agreement is
replaced, the Consolidated Interest Coverage Ratio shall be calculated as defined in such replacement facility (as amended) unless such replacement facility (as amended) does not contain such corresponding ratio. If, at any time, the
Servicer has not entered into such a replacement facility or such replacement facility does not contain corresponding ratios, the Servicer shall maintain the Consolidated Interest Coverage Ratios set forth in Section 3.07 of the Pooling and
Servicing Agreement as if the Credit Agreement remained in full force and effect.

Consolidated Leverage Ratio: As defined in the
Credit Agreement; provided, that if the Credit Agreement is replaced, the Consolidated Leverage Ratio shall be calculated as defined in such replacement facility (as amended) unless such replacement facility (as amended) does not
contain such corresponding ratio. If, at any time, the Servicer has not entered into such a replacement facility or such replacement facility does not contain corresponding ratios, the Servicer shall maintain the Consolidated Leverage Ratios set
forth in Section 3.07 of the Pooling and Servicing Agreement as if the Credit Agreement remained in full force and effect.

Contingent Fees: As of any Distribution Date, any excess of the amount equal to the Receivables Fee not paid by the Issuer pursuant to Sections 8.2(f)(i)(8) and 8.2(f)(ii)(8) of the Indenture and any excess amount equal to the
Equipment Fee not paid by the Issuer pursuant to Sections 8.2(c)(10) and 8.2(d)(10) of the Indenture, as applicable.



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Contra Allowance: During any quarterly period, the highest month-end balance during the preceding
quarter of Receivables owing from Obligors with respect to which the Originator owes off-setting amounts payable (measured to the extent of such offset). The Contra Allowance for the period from the Closing Date through June 30, 2009 shall
equal $245,457. Further, the Contra Allowance for the quarter beginning on July 1, 2009 shall be measured by the highest month-end balance during the period from April 1, 2009 to June 30, 2009.

Contract Management System: All computerized electronic contract management systems maintained by the Servicer for all Loans, Receivables and
other agreements similar to the Loans and the Receivables.

Contracts: Has the meaning given to such term in Section 9-102(a)
of the UCC.

Control Agreement: As defined in Section 6.07(b) of the Pooling and Servicing Agreement.

Conversion Date: Either or both, as the context may require, of the Loan Conversion Date or the Receivables Conversion Date.

Corporate Trust Office: With respect to the Indenture Trustee or the Owner Trustee, the principal office at which at any particular time the
corporate trust business of the Indenture Trustee or Owner Trustee, respectively, shall be administered, which offices at the Closing Date are located, in the case of the Indenture Trustee, at The Bank of New York Mellon, 101 Barclay Street, 4 West,
New York, New York 10286, Attention Asset Backed Securities Group/Alliance Laundry Equipment Receivables Series 2009-A/Antonio Vayas., (fax) 212-815-2493, and in the case of the Owner Trustee, at Wilmington Trust Company, Rodney Square North,
1100 North Market Street CFS, Ninth Floor, Wilmington, Delaware 19890, Attn: Corporate Trust Administration.

Cost of Funds Rate:
With respect to (i) any Advance funded by a CP Conduit via the issuance of Commercial Paper, the CP Rate and (ii) any Advance not funded by a CP Conduit via the issuance of Commercial Paper, the Alternative Rate.

CP Conduit: As defined in the Note Purchase Agreement.

CP Rate: With respect to any Advance held by a CP Conduit for all or part of any Interest Period, a per annum rate equal to the weighted average cost (as determined by such CP Conduit or its administrator and
notified to the Administrative Agent, and which shall include commissions of placement agents and dealers, incremental carrying costs incurred with respect to Commercial Paper issued by or with respect to such CP Conduit maturing on dates other than
those on which corresponding funds are received by such CP Conduit and any other costs associated with the issuance of such Commercial Paper, estimates of commercial paper rates for the period from the end of any Interest Period through the related
Distribution Date and good faith increases and decreases of cost of funds to reflect overestimation or underestimation of commercial paper rates for prior periods) of or related to the issuance of Commercial Paper issued by or with respect to such
CP Conduit and other borrowings by such CP Conduit (including sales of interests in any Advance or the related Notes by such CP Conduit to and any borrowings by such CP Conduit from, its Support Party (as defined in the Note Purchase



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Agreement)) that are allocated, in whole or in part, by such CP Conduit or its administrator to fund or maintain any portion of any Advance or the related
Notes (and which may be also allocated in part to the funding of other assets of such CP Conduit); provided, that if any component of such rate is a discount rate, in calculating the CP Rate for any portion of the Advances for such
Interest Period, such CP Conduit shall for such component use the rate resulting from converting such discount rate to an interest-bearing equivalent rate per annum.

Credit Agreement: The Credit Agreement, dated as of January 27, 2005, among the Servicer, Alliance Laundry Holdings LLC, ALH Finance LLC, Lehman Brothers Inc., as Sole Adviser, Sole Lead Arranger, and Sole
Bookrunner, The Bank of Nova Scotia, as Syndication Agent, Royal Bank of Canada and LaSalle National Bank, as Documentation Agents, and Lehman Commercial Paper Inc., as Administrative Agent, as amended, restated, modified or supplemented through the
Closing Date but not thereafter (without any waivers thereto), a true and complete copy of which is attached to the Pooling and Servicing Agreement as Appendix C.

Credit and Collection Policy: Either or both, as the context may require, of the Loan Credit and Collection Policy and the Receivables Credit and Collection Policy.

Credit Rewrite Equipment Loan: A delinquent Equipment Loan which is rewritten for credit reasons related to the Obligor thereof and with respect
to which (i) such delinquent Equipment Loan is deemed to have been paid in full with the Proceeds of a new Equipment Loan made to such Obligor or a new Obligor, (ii) a new loan number is assigned and (iii) such new Equipment Loan
satisfies the requirements of an Eligible Equipment Loan.

Custodial Agreement: The Custodial Agreement, dated as of June 26,
2009, among the Custodian, the Servicer and the Indenture Trustee, as amended or supplemented or replaced from time to time.

Custodian: The custodian named from time to time in the Custodial Agreement; initially, Bank of America, N.A.

Custodian
Fee: Has the meaning set forth in the letter agreement between the Custodian and the Servicer.

Custodian Receipt Certification:
The receipt delivered by the Custodian to the Indenture Trustee certifying that all Collateral Documents pertaining to a Loan have been received by the Custodian.

Daily Carrying Costs: For each day, an amount equal to the product of (x) the Yield Reserve and (y) the Collections received in the Receivables Collection Account on such day.

Days Sales Outstanding  Receivables: For any Monthly Period, an amount equal to the product of (x) a fraction, the numerator of which
is (a) the ending accounts receivable balance at the end of such period and the denominator of which is (b) the aggregate amount of Receivables originated in such Monthly Period and the previous two (2) Monthly Periods and
(y) the number of calendar days in such three (3) month period.



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Default: Any occurrence that is, or with notice or the lapse of time or both would become, an
Event of Default.

Default Ratio  Equipment Loans: For any Monthly Period a fraction (expressed as a percentage) equal to
(i) the Aggregate Loan Balance of Loans which first became Defaulted Equipment Loans during such Monthly Period divided by (ii) the Aggregate Loan Balance of the Trust as of the first day of such Monthly Period.

Default Ratio  Loss Reserve: As of the related Accounting Date, a fraction (expressed as a percentage) the numerator of which is the sum,
without duplication, of (i) the aggregate outstanding balance of all Receivables that were unpaid for more than ninety (90) days but less than or equal to one hundred twenty (120) days past the dates on which they were due as of such
Accounting Date and (ii) the aggregate outstanding balance of all Receivables that have been written off (or should have been written off in accordance with the Credit and Collection policy) in the Monthly Period, less recoveries received
during such Monthly Period, and the denominator of which is the aggregate amount of all Receivables originated in the Monthly Period which ended seven months immediately prior to such Accounting Date. For purposes of calculating the Default Ratio
 Loss Reserve, the term Receivables when used in reference to periods prior to the Closing Date shall mean all of the trade receivables owned by Alliance Laundry Equipment Receivables Trust 2005-A.

Default Ratio  Receivables: As of the related Accounting Date, a fraction (expressed as a percentage) the numerator of which is the sum,
without duplication, of (i) the aggregate outstanding balance of all Receivables that were unpaid for more than ninety (90) days but less than or equal to one hundred twenty (120) days past the dates on which they were due as of the
end of such Monthly Period, (ii) the aggregate outstanding balance of all Receivables owing from Obligors which became the subject of an Insolvency Event during such Monthly Period, and (iii) the aggregate outstanding balance of all
Receivables that have been written off (or should have been written off in accordance with the Receivables Credit and Collection Policy) in such Monthly Period less recoveries received during such Monthly Period and the denominator of which is the
Net Receivables Balance on such date.

Default Step-Up Amount: An amount of interest that would accrue on the Receivables Notes or
the Equipment Loan Notes, as applicable, using two percent (2%) per annum as the rate of interest.

Defaulted Equipment Loan:
Any Equipment Loan as to which (1) the Servicer (a) has reasonably determined in accordance with its Servicing Standard that eventual payment of amounts owing on such Loan is unlikely, (b) has repossessed the Equipment or other
collateral securing such Loan, or (2) any related Scheduled Payment is at least ninety (90) days past due, or (3) is owed by an Obligor which is the subject of an Insolvency Event or (4) consistent with the Loan Credit and
Collection Policy, there has been, or is required to be, a Write-Off.

Defaulted Receivable: A Receivable: (i) as to which any
payment, or part thereof, remains unpaid for more than ninety (90) days from the date on which it was due, (ii) as to which is owed by an Obligor which is the subject of an Insolvency Event or (iii) which, consistent with the
Receivables Credit and Collection Policy, there has been, or is required to have been, a Write-Off.



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Delinquency Ratio  Equipment Loans: For any Monthly Period, the fraction (expressed as a
percentage) equal to (i) the Aggregate Loan Balance of Loans which, during such Monthly Period, first became unpaid for sixty-one (61) days past their due dates, divided by (ii) the Aggregate Loan Balance as of the first day of such
Monthly Period.

Delinquency Ratio  Receivables: For any Monthly Period, the fraction (expressed as a percentage) determined
as of the related Accounting Date by dividing (i) the outstanding balance of all Receivables that are Delinquent Receivables on such date by (ii) the aggregate Net Receivables Balance on such date.

Delinquent Receivable: A Receivable which is not a Defaulted Receivable, which remains unpaid for more than sixty (60) days but less than or
equal to ninety (90) days from the due date, or which would be classified as delinquent pursuant to the Originators Receivables Credit and Collection Policy.

Delivery and Acceptance Receipt: As defined in the Custodial Agreement.

Deposit Account: Has
the meaning given to such term in Section 9-102(a) of the UCC.

Designated Accounts: The Collection Accounts and the Reserve
Account, collectively.

Determination Date: The day that is the fifth (5th) Business Day of each month, beginning on August 7, 2009.

Diluted Receivable: The portion of any Receivable which is reduced or canceled as a result of or subject to any Dilution. The Seller shall be
deemed to have received a collection of each Diluted Receivable on the day such Dilution occurs.

Dilution: Any reduction in the
balance of a Receivable issued by any Seller to an Obligor on account of discounts, incorrect billings, incentive payments, credits, rebates (including volume rebates), setoffs, allowances, disputes, chargebacks, returned or repossessed goods,
allowances for early payments or any other reduction in the balance of a Receivable for any other reason unrelated to the inability of the Obligor to pay the Receivable.

Dilution Horizon Ratio: For any Monthly Period, an amount equal to the sum of the Receivables originated in such Monthly Period and the immediately preceding Monthly Period, divided by the Net Receivables
Balance on the related Accounting Date. For the purpose of calculating the Dilution Horizon Ratio, the term Receivables, when used in reference to periods prior to the Closing Date, shall mean all the trade receivables owned by Alliance Laundry
Equipment Receivables Trust 2005-A.

Dilution Ratio  Receivables: For any Monthly Period, a fraction (expressed as a
percentage) determined as of the last day of such Monthly Period by dividing (i) the portion of all Receivables which became Diluted Receivables during such Monthly Period (except for those due to the meet comp allowance for
Coinmach Corporation) by (ii) the aggregate amount of all



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Receivables originated in the Monthly Period which ended two months immediately prior to such current Monthly Period. For purposes of calculating the
Dilution Ratio  Receivables, when used in reference to periods prior to the Closing Date, shall mean all of the trade receivables owned by Alliance Laundry Equipment Receivables Trust 2005-A.

Dilution Reserve: As calculated in each Servicers Certificate relating to the most recently ended Monthly Period, the percentage resulting
from the following formula:

((2.25 x ED) + ((DS - ED) x (DS / ED))) x DHR

where:

ED = Expected Dilution for
such Monthly Period

DS = Dilution Spike for such Monthly Period

DHR = Dilution Horizon Ratio for such Monthly Period

Dilution Spike: For any Monthly Period, the highest rolling two-month average Dilution Ratio  Receivables calculated during the twelve (12) Monthly Periods ending on the related Accounting Date.

Distribution Date: The eighth (8th) Business Day of each month, beginning on August 12, 2009.

Documents: Has the meaning given to such term in Section 9-102(a) of the UCC.

Dollars: The lawful currency of the United States of America.

Domestic Lockbox Agreement: The Deposit Account Control Agreement dated as of June 26, 2009, among the Servicer, the Issuer, the Indenture Trustee and Bank of America, N.A.

Domestic Person: Any Person that is organized under the laws of the United States or any State thereof, or has a place of business located in the
United States or otherwise is subject to the jurisdiction of one or more civil courts of the United States (other than by reason of contractual submission to such jurisdiction).

Domestic Receivables: Receivables generated by US entities.

Domestic Receivables Lockbox: The post office box specified in the Domestic Lockbox Agreement relating to the Domestic Receivables.

Domestic Receivables Lockbox Account: As defined in Section 6.02 of the Pooling and Servicing Agreement.

Drawing Certificate: A completed drawing certificate substantially in the form attached to the Letter(s) of Credit delivered on the Closing Date.



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Effective Receivables Commitment: As of any date of determination, an amount equal to the
Receivables Commitment minus the excess, if any, of the outstanding Aggregate Equipment Loan Note Principal Balance over $270,000,000.

Eligible Bank: Either (a) a banking institution capable of issuing or confirming an Eligible Letter of Credit, the unsecured long-term senior debt obligations (or long-term deposits) of which are rated A+ or better
by S&P or A1 or better by Moodys or (b) such other banking, financial or similar institution acceptable to the Special Required Noteholders (such approval not to be unreasonably withheld upon receipt by the Noteholders of
notices from S&P and Moodys that their respective ratings on the Notes will not be withdrawn or lowered as a result of the Trust obtaining such Letters of Credit from such institution).

Eligible Cap Provider: Any of the following: (A) any Person acceptable to the Special Required Noteholders that itself has, or whose Credit
Support Provider (as defined in the relevant Interest Rate Cap Agreement) has, (x) a short-term unsecured debt rating of at least A-1/P-1 (or the equivalent) from the applicable Rating Agency and (y) a long-term unsecured debt
rating of at least AA-/Aa3 (or the equivalent) from the applicable Rating Agency or (B) any counterparty that is otherwise acceptable to the Special Required Noteholders.

Eligible Deposit Account: A segregated account with an Eligible Institution.

Eligible Equipment Loan: At any time, an Equipment Loan that satisfies all of the following criteria or that is otherwise permitted by the Special
Required Noteholders as an Eligible Equipment Loan:

(a) it is secured by a first priority perfected security interest in the Equipment;

(b) it is not a Defaulted Equipment Loan;

(c) no payment is more than sixty (60) days past due on the date on which such Equipment Loan is acquired by the Issuer, and the related Obligor is not then subject to an Insolvency Event; provided that,
Loans previously financed in the ALERT 2005 Transaction that are more than sixty (60) but less than ninety (90) days delinquent when sold to the Trust will not be ineligible solely as a result of this clause (c) so long as such
related Obligor is not subject to an Insolvency Event;

(d) it is not more than ninety (90) days delinquent; provided that,
loans that are more than ninety (90) days delinquent may be transferred to the Trust but shall remain ineligible;

(e) it does not
have a Loan Balance of more than $1,500,000;

(f) it has an original term of not less than twelve (12) months and not more than one
hundred eight (108) months; provided that, Loans previously financed in the ALERT 2005 Transaction with an original term of not more than one hundred twenty (120) months will not be ineligible solely as a result of this clause
(f), but will be treated as having a Loan Balance equal to the sum of all principal payments scheduled to be made on or prior to the date that is one hundred eight (108) months from the Closing Date;



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(g) it is not secured by any Common Collateral (as defined in Section 5.1(k)(1) of the Purchase
Agreement);

(h) the principal place of business of the related Obligor is located in either the United States, United States territories
that have adopted the Uniform Commercial Code or Canada (but, with respect to Canada, only if the principal place of business of the related Obligor is in a province that is governed by the Personal Property Securities Act);

(i) it is denominated in Dollars or Canadian dollars; provided that, if it is denominated in Canadian dollars, it shall be expressed in Dollars
pursuant to the Canadian Translation Premium;

(j)(a) if it has a fixed interest rate, it must have an effective interest rate over its
life of not less than 8.0% per annum and not greater than 22.0% per annum; and (b) if it has a variable interest rate, it must have an effective interest rate over its life based on the prime rate and the margin over the prime rate on
such loan must not be less than 1.00%;

(k) the written and electronic information (including the information provided on the Funding Date
Data Report and the Schedule of Loans) provided by the Originator, the Transferor and the Servicer to the Issuer, the Administrative Agent, or the Indenture Trustee with respect to any Equipment Loan and the Equipment subject to such Equipment Loan
is true and correct in all material respects;

(l) the representations and warranties set forth in Section 3.1 of the Purchase
Agreement are true and correct, to the extent such are applicable, to such Equipment Loan;

(m) no provision of such Loan has been waived,
altered or modified in any respect more than once since origination (except as permitted under the Excess Loan Concentration Amount);

(n)
it constitutes chattel paper as defined under the UCC;

(o) the Obligor is an Eligible Obligor, and either an individual or is
organized under the laws of any state of the United States or any province of Canada and is acquiring Equipment for commercial and not personal, family or household use;

(p) it does not require prior written consent of an Obligor for, or contain any restriction on, its transfer or assignment;

(q) unless the Initial Loan Balance was $25,000 or less in conformance with the applicable provisions of the Credit and Collection Policy, its Obligor is required to maintain casualty insurance with respect to the
related collateral in an amount at least equal to the Initial Loan Balance; provided, however, that Loans with route operators as the Obligor will be exempt from this requirement to the extent that the Obligor has less than $25,000 of
Equipment per location;



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(r) it is not subject to any guarantee by the Originator or any affiliate of the Originator, the Obligor
is not an affiliate of the Originator, and neither the Servicer nor the Originator has established any specific credit reserve that relates solely to the related Obligor;

(s) it provides that the lender party providing the financing thereunder, may accelerate all remaining Scheduled Payments (subject to all applicable grace periods) if a payment default occurs under such Loan;

(t) it is not a lease as defined in Section 2A-103 (1)(j) of the UCC and it is not a lease intended as a security
interest within the meaning of Section 1-201(37) of the UCC; the Equipment covered thereby is not a fixture as defined in the applicable UCC;

(u) with respect to it, the Originator has no material performance obligation in favor of the Obligor, and the Obligor is solely responsible for all maintenance, repairs and taxes to be paid with respect to the
related Equipment;

(v) it provides for Scheduled Payments that fully repay the amount financed over its term;

(w) other than up to an initial one hundred twenty (120) day deferral period, if any, it provides that the Obligor thereunder is required to make at
least one (1) Scheduled Payment per month during the term of the Loan;

(x) the assets financed pursuant to and which secure such Loan
consist primarily of commercial stand alone laundry equipment and related accessories and leasehold improvements;

(y) with respect to all
Loans having an Obligor which is a laundromat, Loans with an Initial Loan Balance in excess of $100,000 per location (or such lesser amount as is required in the Credit and Collection Policy), the owner of any real property (and mortgage thereon) on
which the Equipment is located has, by written consent, waived any liens or claims thereon. If the location is leased, the landlord has, by written consent, waived any liens or claims thereon and, when obtained, agreed to permit the Originator or
its appointee to take over and operate the leased premises and assume or sublet the lease;

(z) all Equipment associated with each Loan has
been delivered, inspected, installed, is in good working condition, free of all disputes, claims or encumbrances, and either (A) such Equipment has been accepted by the Obligor as satisfactory or (B) as of the Determination Date, the
Obligor has made at least one Scheduled Payment;

(aa) the Obligor has irrevocably waived any claim or offset against the Originator and
recognized the Originators right to enforce the Loan according to it terms free of any defenses, offsets or counterclaims, and the Obligor is obligated to pay all scheduled principal and interest on the Loan regardless of the performance of
the related Equipment;

(bb) the Loan Balance is net of any prepayments and security deposits;



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(cc) it is substantially in the form of one of the forms attached to the Pooling and Servicing Agreement
or otherwise approved in writing by the Administrative Agent (acting at the direction of the Special Required Noteholders);

(dd) if any
Scheduled Payment for such Loan does not include a component allocable to the repayment of principal of such Loan, such loan does not permit such interest only Scheduled Payments for more than twenty-four (24) months;

(ee) with respect to (a) any Loan transferred on the Closing Date, the Collateral Documents for such Loan have been certified as complete and
without Exception (as defined in the Custodial Agreement) by the Custodian on the Closing Date and (b) any Loan transferred to the Issuer after the Closing Date, the Collateral Documents for such Loan have been certified as complete and without
Exception (as defined in the Custodial Agreement) by the Custodian no later than 3:00 p.m. New York City time on the Business Day prior to, and as a condition to the funding of the Equipment Loan under the Indenture on, the applicable Equipment Loan
Borrowing Date;

(ff) the UCC filing with respect to such Equipment Loan was made prior to or within twenty (20) days of the date on
which the Obligor receives such Equipment;

(gg) the terms of such Equipment Loan provide that a default by the Obligor under any Loan
originated by the Originator (or, in the case of any Loan originated by an Affiliate of the Originator, any default that allows the holders of such Loan to accelerate its maturity) will result in a default under such Equipment Loan;

(hh) the Obligor is required to remit payment to the Equipment Lockbox Account;

(ii) the Loan shall be in conformance with the applicable provisions of the Credit and Collection Policy; and

(jj) it is not a Balloon Loan that is additionally considered an Interest Only Loan; provided that, Loans previously financed in the ALERT 2005
Transaction that are Interest Only Loans will not be ineligible solely as a result of this clause (jj).

Eligible Institution: A
depository institution organized under the laws of the United States of America or any one of the states thereof or the District of Columbia (or any domestic branch of a foreign bank), (A) which has either (1) a long-term unsecured debt
rating of at least A+ from S&P and A1 from Moodys or (2) a short-term unsecured debt or certificate of deposit rating of at least A-1 from S&P and P-1 from Moodys,
(B) whose deposits are insured by the FDIC and (C) having a combined capital and surplus of at least $50,000,000 as set forth in its most recent published annual report of condition.

Eligible Investments: Book-entry securities, negotiable instruments or securities represented by instruments in bearer or registered form which
evidence:

(a) direct obligations of, and obligations fully guaranteed as to timely payment of principal and interest by, the United States
of America;



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(b) demand deposits, time deposits or certificates of deposit of any depository institution or trust
company incorporated under the laws of the United States of America or any state thereof (or any domestic branch of a foreign bank) and subject to supervision and examination by Federal or state banking or depository institution authorities;
provided, however, that at the time of the investment or contractual commitment to invest therein, the commercial paper or other short-term unsecured debt obligations (other than such obligations the rating of which is based on the
credit of a Person other than such depository institution or trust company) thereof shall have a credit rating from each of the Rating Agencies in the highest investment category for short-term unsecured debt obligations or certificates of deposit
granted thereby;

(c) commercial paper having, at the time of the investment or contractual commitment to invest therein, a rating from
each of the Rating Agencies in the highest investment category for short-term unsecured debt obligations or certificates of deposit granted thereby;

(d) investments in money market or common trust funds having a rating from each of the Rating Agencies in the highest investment category for short-term unsecured debt obligations or certificates of deposit granted
thereby (including funds for which the Indenture Trustee or the Owner Trustee or any of their respective affiliates is investment manager or advisor, so long as such fund shall have such rating);

(e) bankers acceptances issued by any depository institution or trust company referred to in clause (b) above;

(f) repurchase obligations with respect to any security that is a direct obligation of, or fully guaranteed by, the United States of America or any
agency or instrumentality thereof the obligations of which are backed by the full faith and credit of the United States of America, in either case entered into with (A) a depository institution or trust company (acting as principal) described
in clause (ii) or (B) a depository institution or trust company the deposits of which are insured by FDIC or (y) the counterparty for which has a rating from each of the Rating Agencies in the highest investment category for
short-term unsecured debt obligations, the collateral for which is held by a custodial bank for the benefit of the Trust or the Indenture Trustee, is marked to market daily and is maintained in an amount that exceeds the amount of such repurchase
obligation, and which requires liquidation of the collateral immediately upon the amount of such collateral being less than the amount of such repurchase obligation (unless the counterparty immediately satisfies the repurchase obligation upon being
notified of such shortfall);

(g) commercial paper notes having, at the time of the investment or contractual commitment to invest therein,
a rating from each of the Rating Agencies in the highest investment category for short-term unsecured debt obligations; and

(h) any other
investment permitted by each of the Rating Agencies,

in each case, other than as permitted by the Rating Agencies, maturing not later than the Business
Day immediately preceding the next Distribution Date.



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Eligible Letter of Credit: Any irrevocable, transferable, unconditional, direct-pay standby letter
of credit (a) that (i) is issued and confirmed by an Eligible Bank for the benefit of the Indenture Trustee; provided that, subject to the ratings floor set forth in the first proviso to Section 3.27(d) of the Indenture, any
such Letter of Credit described in this clause (a)(i) shall not cease to be an Eligible Letter of Credit if only one of either the issuing or the confirming bank, as applicable, no longer meets the ratings threshold set forth in the definition of
Eligible Bank or (ii) is issued by a bank in the event such bank has a long-term credit rating of at least AA by S&P or Aa2 by Moodys and a short-term credit rating of at least A-1 by S&P or
P-1 by Moodys, (b) that either has a stated expiration date of not earlier than the Final Scheduled Distribution Date or permits drawing thereon on non-renewal thereof, at least sixty (60) days prior thereto (c) that
may be drawn at sight upon at the principal offices of the Eligible Bank as the same shall be designated from time to time by notice to the Indenture Trustee pursuant to the terms of such letter of credit, (d) which is payable in Dollars in
immediately available funds in an amount, in the aggregate with all other Eligible Letters of Credit, of not less than the Available Drawing Amount, (e) that is governed by the Uniform Customs and Practice for Documentary credits (1993
Revision), International Chamber of Commerce Publication No. 500 (the UCP), and any amendments or revisions thereto, except for waivers with respect to (A) the time periods in Articles 13(b) and 14(d)(i) of the UCP,
(B) the application of Article 17 of the UCP and (C) any provisions of Article 48 of the UCP invalidating transfers made in accordance with clause (g) below, and, to the extent not governed thereby, the laws of the State of New
York, except for waiver of Section 5-112 of the New York Uniform Commercial Code, (f) that may be transferred by the Indenture Trustee, without a fee payable by the Indenture Trustee to any replacement Indenture Trustee appointed in
accordance with the terms of the Indenture, and (g) that otherwise contains terms and conditions that are acceptable to the Special Required Noteholders; provided that a Letter of Credit made ineligible by the occurrence of a downgrade of the
financial institution that issued or confirmed such Letter of Credit set forth in Section 4.1(c) of the Indenture shall remain an Eligible Letter of Credit during the applicable grace period set forth in such Section. Notwithstanding any of the
foregoing, cash or alternative collateral posted by the Issuer and then on deposit in the Reserve Account pursuant to Section 3.27 of the Indenture shall be deemed to be an acceptable substitute to an Eligible Letter of Credit.

Eligible Obligor: At any time, an Obligor that satisfies all of the following criteria:

(a) it is not an Affiliate of ALS; and

(b)
no Insolvency Event had occurred and was continuing with respect to such Obligor as of the end of the most recent Monthly Period and is continuing.

Eligible Receivable: At any time, a Receivable:

(a) that arose from a bona fidesale of goods or services by a
Seller in the ordinary course of its business;

(b) that represents the legal, valid and binding bona fideobligation of the
Obligor, to pay the stated amount;



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(c) that constitutes an account or general intangible as defined in the UCC;

(d) the Obligor of which is an Eligible Obligor, and is not owing from any party that is an Affiliate of the Originator;

(e) that arises under a Contract that does not require the Obligor of such Contract or any other Person to consent to the sale, assignment or transfer
of, and the granting of a security interest in such Contract;

(f) that is denominated and payable only in Dollars;

(g) that arises under a Contract that has been duly authorized and that, together with such Receivable, is in full force and effect and represents the
legal, valid and binding obligation of the Obligor of such Receivable enforceable against such Obligor in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization or other similar laws
affecting the enforcement of creditors rights generally and by general principles of equity, regardless of whether such enforceability is considered in a proceeding in equity or at law;

(h) is not subject to any right of rescission, encumbrance, lien, security interest, charge, express right of set-off (or the Obligor is not currently
exercising set off), dispute, counterclaim, defense, or other right or claim of any third-party;

(i) that, together with the Contract
related thereto, was created without any fraud or misrepresentation and was created in accordance with, and conforms in all material respects with, all applicable laws, rules, regulations, orders, judgments, decrees and determinations of all courts
and other governmental authorities (whether Federal, state, local or foreign and including usury laws);

(j) that satisfies in all material
respects the applicable requirements of the Receivables Credit and Collection Policy of the applicable Transferor as in effect on its date of origination;

(k) that has not been compromised, adjusted, satisfied, subordinated, rescinded, impaired or modified (other than as permitted under the Excess Receivables Concentration Amount or the granting of any discounts,
allowances or credits);

(l) that is not a Defaulted Receivable;

(m) the Obligor is required to remit payment to the Receivables Collection Account or a Lockbox Account;

(n) that arises under a Contract that is governed by the laws of a state of the United States and which is substantially similar to one of the forms
attached approved by the Administrative Agent (acting at the direction of the Special Required Noteholders) and that remains in full force and effect;



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(o) that arises out of a current transaction within the meaning of the Securities Act of
1933, as amended;

(p) that pursuant to its Contract, is required to be paid in full no later than one hundred eighty (180) days from
the original invoice date therefor;

(q) that pursuant to its Contract, has no outstanding performance obligations (e.g. shipment of goods
or rendering of services) on the part of the originator under such Receivable;

(r) all written and electronic information in respect of
such Receivable set forth in the Schedule of Receivables and the Funding Date Data Pool Report is true and correct in all material respects and such Receivable and all accompanying documents are complete and authentic and all signatures thereon are
genuine;

(s) following the transfers contemplated by the Purchase Agreement and the Pooling and Servicing Agreement, the Issuer holds good
and indefeasible title to, and is the sole owner (or assignee) of such Receivable, and such Receivable is not subject to any Liens, other than Permitted Adverse Claims; and

(t) all taxes, other than sales taxes that are not yet required to be remitted to the relevant taxing authority, of any nature or description whatsoever
relating to such Receivable that are due and owing have been paid in full.

Equipment: The stand alone commercial laundry equipment
and related accessories, including any additions, substitutions or accessions thereto, securing an Obligors indebtedness under a Loan, other than pursuant to cross collateralization provisions in such Loan as described in clause
(d) of the definition of Exempt Collateral. A Loan may be secured by one or more items of Equipment.

Equipment Fee: For
each Distribution Date and each Noteholder, an amount equal to the sum, for each day during the related Interest Period, of an amount equal to the aggregate, for all Advances under the Equipment Loan Notes then outstanding, equal to the sum of
(a) the product of (i) the principal amount of such Advance (or a portion thereof), (ii) a rate equal to the sum of (x) the Cost of Funds Rate on such day and (y) the Applicable Margin and (iii) 1/360; plus
(b) either (i) if such day is subsequent to the occurrence of an Event of Default, an additional amount equal to the Default Step-Up Amount or (ii) if such day is subsequent to the occurrence of a Rapid Amortization Event (other than
a Rapid Amortization Event caused by an Event of Default), an additional amount equal to the Rapid Amortization Step-Up Amount.

Equipment Loan: Shall mean a Loan.

Equipment Loan Advance Rate: An amount equal to a fraction (expressed as a
percentage) the numerator of which is equal to the Equipment Loan Borrowing Base and the denominator of which is equal to the Equipment Loan Collateral Value.

Equipment Loan Available Amount: For any Distribution Date, with respect to the related Monthly Period, or with respect to the first Distribution Date, the period from and



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including the initial Loan Cutoff Date to the last day of the related Monthly Period, the sum of, without duplication, (1) all Collections on the Loans
received by or on behalf of the Trust, (2) all Liquidation Proceeds, Insurance Proceeds, Proceeds from casualty loss, Guarantees and early termination charges to the extent received by the Trust, (3) all Servicer Advances on the Equipment
Loans other than payments made with respect to fees owing under the Lockbox Agreement, (4) the Warranty Payment, the Administrative Purchase Payment or the Optional Purchase Price of each Loan that the Transferor or Originator repurchased or
the Servicer purchased during such related Monthly Period, (5) any Prepayment with respect to Loans, (6) any amounts drawn from the Reserve Account but solely to the extent available to pay interest and principal pursuant to
Section 8.2(h) of the Indenture, (7) any amounts drawn from the Yield Supplement Account but solely to the extent available to pay interest pursuant to Section 8.2(h) of the Indenture, (8) any amount drawn from the Letters of
Credit but solely to the extent available to pay interest and principal pursuant to Section 8.2(h), (9) earnings on amounts in the Accounts and (10) any payments received from an Interest Rate Cap Provider.

Equipment Loan Borrowing Base: As of any date of determination, the then amount equal to the sum of (A) product of (i) 100% minus the
Equipment Loan Required Credit Support and (ii) the Equipment Loan Collateral Value, (B) the Equipment Loan LC Amount including amounts drawn pursuant to Sections 3.27(d) and 3.27(e) of the Indenture and (C) the amount in the Reserve
Account related to the Loans (as determined in accordance with Section 8.7 of the Indenture). For the avoidance of doubt, the Ineligible Cap Reserve shall be excluded from the calculation of the preceding clause (C).

Equipment Loan Borrowing Date: As defined in Section 1.1 of the Note Purchase Agreement.

Equipment Loan Collateral Value: As of any date of determination, the Equipment Loan Collateral Value shall be equal to the Net Equipment Loans
Balance.

Equipment Loan LC Amount: The undrawn face amount of the Letters of Credit that are attributable (as determined in
accordance with Section 8.7 of the Indenture) to the Equipment Loan Notes.

Equipment Loan Note: Any one of the Notes
substantially in the form of Exhibit A-1 to the Indenture, issued pursuant to the terms of the Indenture.

Equipment Loan Note
Commitment: As of any date of determination, an amount equal to the excess of (x) Three Hundred-Thirty Million Dollars ($330,000,000) over (y) the Aggregate Receivables Note Principal Balance on such date. On and after the Loan
Conversion Date, the Equipment Loan Note Commitment shall be zero.

Equipment Loan Note  Fixed Rate Portion: On any date of
determination, an amount equal to the product of (x) the sum of the then Note Principal Balances of all Equipment Loan Notes then outstanding and (y) a fraction expressed as a percentage, the numerator of which is equal to the sum of the
then Loan Balances of all fixed-rate Eligible Equipment Loans included in the Trust Estate on such date and the denominator of which is equal to the sum of the then Loan Balances of all Eligible Equipment Loans included in the Trust Estate on such
date.



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Equipment Loan Note Interest Payment: For each Distribution Date and each Noteholder, an amount
equal to the sum, for each day during the related Interest Period, of an amount equal to the aggregate, for all Advances under the Equipment Loan Notes then outstanding, equal to the sum of (a) the product of (i) the principal amount of
such Advance (or a portion thereof), (ii) a rate equal to the sum of (x) the Cost of Funds Rate on such day and (y) the Applicable Margin and (iii) 1/360; plus (b) either (i) if such day is subsequent to the occurrence
of an Event of Default, an additional amount equal to the Default Step-Up Amount or (ii) if such day is subsequent to the occurrence of a Rapid Amortization Event (other than a Rapid Amortization Event caused by an Event of Default), an
additional amount equal to the Rapid Amortization Step-Up Amount.

Equipment Loan Noteholder: A Holder of an Equipment Loan Note.

Equipment Loan Note Senior Interest Amount: For each Distribution Date and each Noteholder, an amount equal to the sum, for each
day during the related Interest Period, of an amount equal to the aggregate, for all Advances under the Equipment Loan Notes then outstanding, equal to the product of (i) the principal amount of such Advance (or a portion thereof), (ii) a
rate equal to the one-month LIBOR plus 350 basis points (3.50%) and (iii) 1/360.

Equipment Loan Required Credit Support:
The percentage which is equal to (i) prior to the Loan Conversion Date, 26%; and (ii) on and after the Loan Conversion Date, the sum of the greater of (x) 26% and (y) the sum of (a) the Equipment Loan Reserve Requirement at
such time as a percentage of the Net Equipment Loans Balance, (b) the Available Drawing Amount at such time as a percentage of the Net Equipment Loans Balance and (c) the OC Percentage in effect as of the Loan Conversion Date. The
Equipment Loan Required Credit Support is effective for the period beginning on the Determination Date on which the information is reported through and including the day prior to the following Determination Date.

Equipment Loan Reserve Requirement: With respect to any Distribution Date, the amount of the Reserve Account Required Amount allocated to the
Equipment Loan Notes pursuant to Section 8.7 of the Indenture.

Equipment Note: A commercial loan evidenced by a note and
secured by Equipment.

Equipment Unused Facility Fee: As defined in Section 2.7(e) of the Indenture.

Equity Interests: With respect to any Person, any and all shares, interests, participations or other equivalents, including membership interests
(however designated, whether voting or non-voting or whether certificated or not certificated), of capital of such Person, including, if such Person is a partnership, partnership interests (whether general or limited) and any other interest or
participation that confers on a Person the right to receive a share of the profits and losses of, or distributions of assets of, such partnership, whether outstanding on the date hereof or issued thereafter.

ERISA: The Employee Retirement Income Security Act of 1974, as amended.

Eurodollar Disruption Event: Any of the following: (a) a determination by an Agent, a Noteholder or its related Support Party that it would
be contrary to law or to the directive of any



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central bank or other governmental authority (whether or not having the force of law) to obtain Dollars in the London interbank market to make, fund or
maintain any Advance for such Interest Period, (b) a determination by an Agent, that, in its reasonable judgment, the rate at which deposits of Dollars are being offered to such Person in the London interbank market does not accurately or
fairly reflect its cost of making, funding or maintaining any Advance for such Interest Period, such determination (including the factual basis for such determination) to be certified by such Person to the Indenture Trustee, the Issuer and the
Servicer no later than the third day prior to the commencement of the related Interest Period (such determination to be re-certified each month during the continuation of such condition) or (c) the inability of an Agent, a Noteholder or its
related Support Party to obtain Dollars in the London interbank market to make, fund or maintain any Advance for such Interest Period.

Eurodollar Reserve Percentage: With respect to any Interest Period (or portion thereof), the reserve percentage (rounded upwards, if necessary, to the nearest 1/16th of one percent per annum) applicable during such Interest Period
(or portion thereof) (or, if more than one such percentage shall be so applicable during such Interest Period, the daily average of such percentages for those days in such Interest Period (or portion thereof) during which any such percentages shall
be in effect) under regulations issued from time to time by the Board of Governors of the Federal Reserve System (or any successor) for determining the maximum reserve requirement (including any emergency, supplemental or other marginal reserve
requirement) for banks or other financial institutions subject to such regulations with respect to liabilities or assets consisting of or including Eurocurrency Liabilities (as that term is defined in Regulation D of the Board of Governors of the
Federal Reserve System) having a term equal to such Interest Period (or portion thereof).

Event of Default: The occurrence of an
event described in Section 5.1 of the Indenture, and the continuation of such condition beyond the applicable grace period set forth therein.

Excess Loan Concentration Amount: As of any date of determination, an amount equal to the sum of the following, determined only with respect to Eligible Equipment Loans:

(a) the amount by which (x) the sum of the Loan Balances for all Loans that have an original term of greater than 96 months but less than or equal
to 108 months, exceeds (y) an amount equal to fifteen percent (15%) of the Aggregate Loan Balance; plus

(b)(i) the amount by
which (x) the sum of the Loan Balances for all Interest Only Loans, exceeds (y) an amount equal to twenty-five percent (25%) of the Aggregate Loan Balance and (ii) the amount by which (x) the sum of the Loan Balances for all
Interest Only Loans with interest only periods exceeding twelve (12) months, exceeds (y) an amount equal to twelve and one-half percent (12.5%) of the Aggregate Loan Balance; plus

(c)(i) the amount by which (x) the sum of the Loan Balances of all Balloon Loans, exceeds (y) an amount equal to five percent (5%) of the
Aggregate Loan Balance, (ii) the amount by which (x) the sum of the Loan Balances of all Balloon Loans which are Credit Rewrite Equipment Loans, amended in conformance with the applicable provisions of the Loan Credit and Collection
Policy, exceeds (y) an amount equal to three percent (3%) of the Aggregate Loan Balance, and (iii) the amount by which (x) the sum of the Loan Balances of all



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Balloon Loans with scheduled amortization periods that are more than four (4) years longer than the stated maturity date of such Loan, exceeds
(y) an amount equal to one percent (1%) of the Aggregate Loan Balance; plus

(d) the amount by which (x) the Loan Balance
owing by the Obligor (together with any other Obligors whose majority owner is the same as such Obligor) with the highest Loan Balance, exceeds (y) an amount equal to the lesser of (i) $18,900,000, and (ii) an amount equal to 7% of
the Aggregate Loan Balance; plus

(e) the amount by which (x) the Loan Balances owing by the four (4) Obligors (together with any
other Obligors whose majority owner is the same as any such Obligor) with the highest Loan Balances, exceeds (y) an amount equal to the lesser of (i) $27,000,000 and (ii) an amount equal to 10% of the Aggregate Loan Balance; plus

(f) the amount by which (x) the Loan Balances for all Loans for which the related Obligor is obligated to make Scheduled Payments
denominated in Canadian dollars or maintains its principal place of business in Canada, exceed (y) an amount equal to 2% of the Aggregate Loan Balance; plus

(g) the amount by which (x) the sum of the Loan Balances for all Loans secured by Equipment located (as set forth in the related loan agreement) in the State of California, exceeds (y) an amount equal to 30%
of the Aggregate Loan Balance; plus

(h) the amount by which (x) the sum of the Loan Balance for all Loans secured by Equipment
located (as set forth in the related loan agreement) in the State of New York, exceeds (y) an amount equal to 25% of the Aggregate Loan Balance; plus

(i) the amount by which (x) the sum of the Loan Balance for all Loans secured by Equipment located (as set forth in the related loan agreement) in the State of Florida, exceeds (y) an amount equal to 20% of
the Aggregate Loan Balance; plus

(j) the amount by which (x) the sum of the Loan Balance for all Loans secured by Equipment located
(as set forth in the related loan agreement) in any of the State of Texas, the State of Georgia, the State of New Jersey or the Commonwealth of Massachusetts exceeds (y) an amount equal to 10% of the Aggregate Loan Balance; plus

(k) the amount by which (x) the sum of the Loan Balances for all Loans secured by Equipment located (as set forth in the related loan agreement) in
any state (other than California, New York, Florida, Texas, Georgia, New Jersey or the Commonwealth of Massachusetts), exceeds (y) an amount equal to 5% of the Aggregate Loan Balance; plus

(l) the amount by which (x) the sum of the Loan Balances owing by any single Obligor (other than the four (4) Obligors with the highest Loan
Balances) exceeds (y) an amount equal to 2.5% of the Aggregate Loan Balances; plus

(m) the amount by which (x) the sum of the
Loan Balances for all Loans that have been waived, altered or modified in conformance with the applicable provisions of the Loan Credit and Collection Policy in any respect two (2) or more times since origination exceeds (y) five percent
(5%) of the Aggregate Loan Balance; plus



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(n) the amount by which (x) the sum of the Loan Balances of all Credit Rewrite Equipment Loans,
amended in conformance with the applicable provisions of the Loan Credit and Collection Policy exceeds (y) 4.50% of the Aggregate Loan Balance; plus

(o) the amount by which (x) the sum of the Loan Balances of all fixed rate Equipment Loans exceeds (y) 20% of the aggregate Loan Balance of Eligible Equipment Loans; plus

(p) the amount by which (x) the sum of the Loan Balances of all Equipment Loans that are in a payment deferred period, exceeds (y) 10% of the
Aggregate Loan Balance.

(q) the amount by which (x) the sum of the Loan Balances of all Obligors which are Governmental Authorities
exceeds (y) 2% of the aggregate Loan Balance of all fixed rate Equipment Loans; plus

(r) as of any date of determination occurring
after the Loan Conversion Date, so long as USD-LIBOR-BBA (as defined in the Interest Rate Cap Agreement) is in excess of the Cap Strike Rate (as defined in the Note Purchase Agreement), the amount by which (x) the Equipment Loan
Note - Fixed Rate Portion as of such date of determination, exceeds (y) the then notional balance of the Interest Rate Cap Agreement.

Notwithstanding
the foregoing, specified Loans may be excluded from the concentration limits set forth in clauses (d) and (e) of the definition of Excess Loan Concentration Limits upon prior written notice to the Rating Agencies and with the
written consent of the Special Required Noteholders; provided that no such Loans may be excluded if such Loans, together with all previous exclusions, would exceed the concentrations provided in the parentheticals set forth in clauses
(d) and (e).

Excess Receivables Concentration Amount: As of any date of determination an amount equal to the sum of
the following, determined only with respect to Eligible Receivables and without duplication (subject to the terms contained in a certain side letter executed between ALS and the Administrative Agent):

(a) for all Receivables for which Coinmach Corporation is the Obligor, the amount by which (x) the sum of the then Unpaid Balances of all such
Receivables exceeds (y) an amount equal to fifteen percent (15%) of the Adjusted Receivables Balance; plus

(b) for Receivables
payable by each of the second through the fifth largest Obligors that are not otherwise addressed herein, the amount by which (x) the sum of the then Unpaid Balances of all Receivables owing by each such Obligor exceeds (y) an amount equal
to four percent (4%) of the Adjusted Receivables Balance; plus

(c) for Receivables payable by a single Obligor that is not otherwise
addressed herein, the amount by which (x) the sum of the then Unpaid Balances of all Receivables owing by such Obligor exceeds (y) an amount equal to three percent (3%) of the Adjusted Receivables Balance; plus



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(d) the amount by which (x) the sum of the Unpaid Balances of all Receivables for which Textron
Financial Corporation is the Obligor exceeds (y) 3% of the Adjusted Receivables Balance; plus

(e) for all Receivables that are
Interest Bearing Receivables, the amount by which (x) the sum of the then Unpaid Balances of all such Interest Bearing Receivables, exceeds (y) an amount equal to ten percent (10%) of the Adjusted Receivables Balance; plus

(f) for all Receivables for which a Governmental Authority is the Obligor, the amount by which (x) the sum of the then Unpaid Balances of all
such Receivables, exceeds (y) an amount equal to two percent (2%) of the Adjusted Receivables Balance; plus

(g) for all
Receivables with an original scheduled due date that is greater than one hundred twenty one (121) days but less than or equal to one hundred eighty (180) days, the amount by which (x) the sum of the then Unpaid Balances of all such
Receivables, exceeds (y) an amount equal to two percent (2%) of the Adjusted Receivables Balance; plus

(h) for all Receivables
that are more than thirty (30) days but less than or equal to sixty (60) days past due, the amount by which (x) the sum of the then Unpaid Balances of all such Receivables, exceeds (y) an amount equal to seven percent
(7%) of the Adjusted Receivables Balance; plus

(i) for all Receivables that are more than sixty (60) days but less than or equal
to ninety (90) days past due, the amount by which (x) the sum of the then Unpaid Balances of all such Receivables, exceeds (y) an amount equal to seven percent (7%) of the Adjusted Receivables Balance; plus

(j) for all Receivables for which the Obligor is a Foreign Obligor, the amount by which (x) the sum of the then Unpaid Balance of all such
Receivables exceeds (y) an amount equal to twenty five percent (25%) of the Adjusted Receivables Balance; plus

(k) for all
Receivables payable by Obligors that are located in a country other than the United States that has a long-term currency rating of, with respect to each country, less than BBB- by S&P or Baa3 by Moodys, the amount
by which (x) the sum of the then Unpaid Balances of all such Receivables, exceeds (y) an amount equal to four percent (4%) of the Adjusted Receivables Balance; plus

(l) for all Receivables payable by Obligors that are located in a country other than the United States that has a long-term currency rating of, with
respect to each country, the lower of less than AA by S&P or Aa2 by Moodys and greater than or equal to the lower of BBB- by S&P or Baa3 by Moodys, the amount by which (x) the
sum of the then Unpaid Balances of all such Receivables, exceeds (y) an amount equal to fourteen percent (14%) of the Adjusted Receivables Balance; plus



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(m) for all Receivables for which the original due date has been extended for up to sixty (60) days,
the amount by which (x) the sum of the then Unpaid Balances of all such Receivables, exceeds (y) an amount equal to two percent (2%) of the Adjusted Receivables Balance; plus

(n) for all Assignment of Proceeds Receivables, the amount by which (x) the sum of the then Unpaid Balance of all such Receivables exceeds
(y) an amount equal to eight percent (8%) of the Adjusted Receivables Balance.

Excess Spread: On any Determination Date,
the percentage rate equal to the product of (a) 12.0 and (b) a fraction, the numerator of which is equal to the excess of (i) the sum of (x) the interest collections of the Equipment Loans, (y) the Proceeds received by the
Issuer from any Interest Rate Cap Agreements and (z) the amounts in the Yield Supplement Account, in each case during the related Monthly Period, over (ii) the sum of (x) the accrued Equipment Loan Note Senior Interest Amount due on
the Equipment Loan Notes, (y) the Servicing Fee and (z) to the extent not previously paid by the Servicer, the per annum percentage rate equivalent of the Indenture Trustee Fees, the Owner Trustee Fees, the Custodian Fee and the Backup
Servicer Fees, and the denominator of which is equal to the Net Equipment Loans Balance.

Exchange Act: The Securities Exchange Act
of 1934, as amended.

Executive Officer: With respect to any corporation, the Chief Executive Officer, Chief Operating Officer,
Chief Financial Officer, President, Executive Vice President, any Vice President or the Treasurer of such corporation; with respect to any partnership, any general partner thereof; and with respect to any limited liability company, the Chief
Executive Officer, Chief Financial Officer, any Vice President, the Treasurer or the Controller.

Exempt Collateral: All
(a) Insurance Policies, (b) security deposits relating to any Loan, (c) collateral constituting real property, a leasehold improvement or a fixture or an interest in real property, a leasehold improvement or a fixture (but, in each
case, only to the extent such policies, deposits and collateral are not applied to reduce the amount owed in respect of a Loan transferred to the Trust) and (d) on and after the Receivables Payoff Date, the Receivables and Related Assets with
respect thereto.

Expected Dilution: For any Monthly Period, a percentage equal to the average Dilution Ratio  Receivables for
the previous twelve-Monthly Periods ending on the related Accounting Date.

FCIA: The Foreign Credit Insurance Agency, and its
successors.

FCIA Insurance: Credit insurance issued by FCIA.

FDIC: Federal Deposit Insurance Corporation or any successor agency.

Federal Funds Rate: With respect to any Interest Period and any Noteholder, a fluctuating interest rate per annum equal to the weighted average of
the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers, as published for such day (or, if such day is not a Business Day, for the next preceding Business



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Day) by the Federal Reserve Bank of New York, or, if such rate is not so published for any day which is a Business Day, the average of the quotations for
such day for such transactions received by the related Deal Agent from three Federal funds brokers of recognized standing selected by it.

Fee Letter: That certain engagement letter dated as of October 24, 2008 among Natixis Capital Markets Inc. and ALS, that certain Structuring and Arrangement Fee Letter dated as of June 26, 2009 among Natixis Financial
Products Inc., the Issuer and the Indenture Trustee, and, in each case, any modifications, amendments or supplements thereto.

Final Scheduled Distribution Date: For the Equipment Loan Notes, the one hundred twenty six (126) month anniversary of the Loan Conversion Date, and for the Receivables Notes, the first (1st) annual anniversary following the Receivables Conversion Date.

Floorplan Receivable: A Receivable generated through a program under which ALS loans funds to dealers to finance their inventory which Receivable
accrues interest (at short-term rates agreed to by such Obligor and the Originator) on the Unpaid Balance thereof, excluding any Receivable for which Textron Financial Corporation is the Obligor.

Foreign Obligor: An Obligor who is not a Domestic Person.

Foreign Receivables: Receivables generated by foreign entities.

Foreign Receivables Lockbox:
The post office box specified in the Foreign Receivables Lockbox Agreement relating to the Foreign Receivables.

Foreign Receivables
Lockbox Account: As defined in Section 6.02 of the Pooling and Servicing Agreement.

Foreign Receivables Lockbox Agreement:
The Collection Account Agreement dated as of June 26, 2009, among, the Servicer, the Issuer, the Indenture Trustee and U.S. Bank National Association.

Full Prepayment: With respect to a Monthly Period, a Prepayment of the entire Loan Balance of such Loan and all accrued and unpaid interest and other outstanding amounts thereon (other than fees).

Funding Date Data Pool Report: As defined in the Purchase Agreement.

General Intangibles: Has the meaning given to such term in Section 9-102(a) of the UCC.

Goods: Has the meaning given to such term in Section 9-102(a) of the UCC.

Governmental Authority: Any applicable federal, state county, or municipal authority that exercises executive, legislative, judicial, regulatory
or administrative functions of or pertaining to government.



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Grant: To mortgage, pledge, bargain, sell, warrant, alienate, remise, release, convey, assign,
transfer, create, and grant a lien upon and a security interest in and right of set-off against, deposit, set over and confirm pursuant to the Indenture. A Grant of the Collateral or of any other agreement or instrument shall include all rights,
powers and options (but none of the obligations) of the Granting party thereunder, including the immediate and continuing right to claim for, collect, receive and give receipt for principal and interest payments in respect of, the Collateral and all
other moneys payable thereunder, to give and receive notices and other communications, to make waivers or other agreements, to exercise all rights and options, to bring Proceedings in the name of the Granting party or otherwise and generally to do
and receive anything that the Granting party is or may be entitled to do or receive thereunder or with respect thereto.

Gross
Receivables Balance: The sum of the then Unpaid Balances of all Receivables then owned by the Issuer, reduced by the sum of (i) unapplied cash, (ii) unapplied credits including the meet comp allowance for Coinmach
Corporation, (iii) the Sales Tax Allowance, (iv) finance charges, late payments or similar charges, (v) Contra Allowances and (vi) Chargebacks.

Guaranties: With respect to any Loan, personal or commercial guaranties of an Obligors performance with respect thereto.

Holder: The Person in whose name a Note is registered on the Note Register or who owns a beneficial interest in the Trust as set forth in the Certificate Register, as applicable.

Indemnified Parties: The Persons specified in Section 6.9 of the Trust Agreement.

Indenture: The Indenture, dated as of June 26, 2009, between the Issuer and the Indenture Trustee, as amended and supplemented from time to
time.

Indenture Trustee: The Bank of New York Mellon, a New York banking corporation, not in its individual capacity but solely as
trustee under the Indenture, or any successor trustee under the Indenture.

Indenture Trustee Fee: Has the meaning given to such
term as set forth in the letter agreement between the Issuer and the Indenture Trustee.

Independent: When used with respect to any
specified Person, that the Person (i) is in fact independent of the Issuer, any other obligor upon the Notes, the Transferor, ALS and any Affiliate of any of the foregoing Persons, (ii) does not have any direct financial interest or any
material indirect financial interest in the Issuer, any such other obligor, the Transferor, ALS or any Affiliate of any of the foregoing Persons and (iii) is not connected with the Issuer, any such other obligor, the Transferor, ALS or any
Affiliate of any of the foregoing Persons as an officer, employee, promoter, underwriter, trustee, partner, director or person performing similar functions.

Independent Certificate: A certificate or opinion to be delivered to the Indenture Trustee under the circumstances described in, and otherwise complying with, the applicable requirements of Section 12.1 of
the Indenture, made by an Independent appraiser or other expert appointed by an Issuer Order and approved by the Indenture Trustee in the exercise of reasonable care, and such opinion or certificate shall state that the signer has read the
definition of Independent in the Indenture and that the signer is Independent within the meaning thereof.



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Ineligible Cap Reserve: With respect to any Distribution Date, means 1.0% of the Net Equipment
Loans Balance, as of the last day of the immediately preceding Monthly Period (or, upon the occurrence of an Event of Default or Rapid Amortization Event, as of the Accounting Date immediately prior to the occurrence of such event).

Initial Assignment: Any Initial PA Assignment or Initial PSA Assignment.

Initial Cutoff Date: June 22, 2009, with respect to the Receivables; and June 22, 2009, with respect to the Loans.

Initial Loan Balance: With respect to a Loan, the excess of (x) the aggregate amount advanced under such Loan toward the purchase price of
the Equipment, including insurance premiums, service and warranty contracts, federal excise and sales taxes and other items customarily financed as part of an Equipment Note and related costs, over (y) payments received from the Obligor prior
to the Loan Cutoff Date that has been allocated in accordance with the terms of such Loan to the reduction of the unpaid principal balance of such Loan.

Initial Loans: The Loans, including all documents and instruments evidencing or governing the Loans and all Loan Files relating thereto, identified in the schedule to the Initial PA Assignment and the Initial
PSA Assignment.

Initial PA Assignment: The assignment substantially in the form of Exhibit A-1 to the Purchase Agreement.

Initial PSA Assignment: The assignment substantially in the form of Exhibit A-1 to the Pooling and Servicing Agreement.

Insolvency Event: With respect to a specified Person, (i) the entry of a decree or order by a court, agency or supervisory
authority having jurisdiction in the premises for the appointment of a conservator, receiver or liquidator for such Person, in any bankruptcy, insolvency, readjustment of debt, marshaling of assets and liabilities or similar proceedings, or for the
winding-up or liquidation of such Persons affairs, and the continuance of any such decree or order unstayed and in effect for a period of sixty (60) consecutive days; (ii) the consent by such Person to the appointment of a
conservator, receiver or liquidator in any bankruptcy, insolvency, readjustment of debt, marshaling of assets and liabilities or similar proceedings of or relating to such Person or of or relating to substantially all of such Persons property,
or (iii) such Person shall admit in writing its inability to pay its debts generally as they become due, file a petition to take advantage of any applicable bankruptcy, insolvency or reorganization statute, make an assignment for the benefit of
its creditors or voluntarily suspend payment of its obligations.

Instruments: Has the meaning given to such term in
Section 9-102(a) of the UCC.

Insurance Policy: With respect to a Loan, an insurance policy covering Equipment securing such
Loan.



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Insurance Proceeds: With respect to any Loan, proceeds of any Insurance Policy with respect to
such Loan.

Interest Bearing Receivable: A Floorplan Receivable and any other Receivable with respect to which interest (at
short-term interest rates agreed to by such Obligor and the Originator) accrues on the Unpaid Balance thereof, provided that a Receivable shall not be deemed to be interest-bearing solely as a result of an Originators imposition of an interest
or other charge on any such Receivable that remains unpaid after its due date for some specified period (but such interest charge or other charge shall not be included in the Unpaid Balance of a Receivable).

Interest Only Loan: With respect to any date of determination, any Loan for which the Scheduled Payment owing by the related Obligor does not
include a component allocable to the repayment of the Loan Balance of such Loan.

Interest Period: With respect to any Distribution
Date, the period commencing on the second immediately preceding Determination Date and ending on the day prior to the immediately preceding Determination Date, except that (x) the initial Interest Period will be the period commencing on the
Closing Date and ending on the day prior to the first Determination Date and (y) the last Interest Period will be the period commencing on the immediately preceding Determination Date and ending on the date on which the outstanding principal
balance of the Notes has been reduced to zero; provided that, if an Interest Period in respect of which the Equipment Loan Note Interest Payment or the Receivables Note Interest Payment, as applicable, is computed by reference to the CP Rate
and such rate is terminated at the election of, and upon notice thereof to the Issuer by, the applicable Agent any time, then the outstanding principal amount of the Advance allocated to such terminated Interest Period shall be allocated to a new
Interest Period commencing on (and including) the date of such termination and ending on (but excluding) the next following Determination Date.

Interest Rate Cap Agreement: The letter agreement (confirmation), effective as of June 26, 2009, among Wells Fargo Bank, N.A. and the Issuer or any other cap or other hedging instrument, in form and substance reasonably
satisfactory to the Administrative Agent (acting at the direction of the Special Required Noteholders), between the Issuer and Interest Rate Cap Provider named therein, including any schedules and confirmations prepared and delivered in connection
therewith, pursuant to which the Issuer will receive payments from the Interest Rate Cap Provider based on USD-LIBOR-BBA (as defined in the Interest Rate Cap Agreement).

Interest Rate Cap Provider: Any Eligible Cap Provider or any counterparty to an interest rate swap, cap, collar or other hedging instrument
permitted to be entered into pursuant to the Indenture.

Interested Parties: The Issuer, each Beneficiary and each other party
identified or described in the Purchase Agreement or the Transfer and Servicing Agreements as having an interest as owner, trustee or secured party with respect to the Purchased Property.

Inventory: Has the meaning given to such term in Section 9-102(a) of the UCC.

Investment Company Act of 1940: The Investment Company Act of 1940, as amended.



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Investment Earnings: Investment earnings on funds deposited in the Designated Accounts, the
Lockbox Account and the Certificate Distribution Account, net of losses and investment expenses, during the applicable Monthly Period.

Investment Property: Has the meaning given to such term in Section 9-102(a) of the UCC.

Issuer: Alliance
Laundry Equipment Receivables Trust 2009-A and any successors and permitted assigns.

Issuer Order and Issuer Request: A
written order or request signed in the name of the Issuer by any one of its Authorized Officers and delivered to the Indenture Trustee.

LC Recourse Draw Determination Date: As defined in Section 3.27(f) of the Indenture.

LC Substitute Cash: RA
Cash plus any additional cash collateral on deposit in the Reserve Account designated to be in substitution of Eligible Letters of Credit.

Letter(s) of Credit: The Letter(s) of Credit issued for the benefit of the Indenture Trustee.

Letter of Credit
Bank: The bank issuing (and, if applicable, its confirming bank) the Letter of Credit.

Letter of Credit Drawing: As defined in
Section 3.27(b) of the Indenture.

Letter-of-Credit Rights: Has the meaning given to such term in Section 9-102(a) of the
UCC.

LIBOR: An interest rate per annum equal to the rate for deposits in U.S. Dollars for a period of one month which appears on
Telerate Service Page 3750 as of 11:00 a.m., London time, on the related date of determination. If the rate does not appear on that date on Telerate Service Page 3750 (or any other page as may replace that page on that service, or if that service is
no longer offered, any other service for displaying LIBOR or comparable rates as may be selected by the Indenture Trustee after consultation with the Transferor), then LIBOR will be the Reference Bank Rate.

Lien: Any security interest, lien, charge, pledge, equity or encumbrance of any kind other than (i) liens for taxes not yet due and payable,
(ii) mechanics liens, (iii) any liens that attach by operation of law, and (iv) any liens being contested by appropriate measures.

Liquidation Expenses: The out of pocket expenses reasonably incurred by the Servicer in connection with the repossession, refurbishment and disposition of the collateral relating to a Defaulted Equipment Loan.

Liquidation Proceeds: The Proceeds of the liquidation of any Defaulted Equipment Loan, net of Liquidation Expenses.



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Liquidity Termination Date: June 25, 2010, or such later date to which the Liquidity
Termination Date may be extended (but no later than the Scheduled Termination Date) by the Issuer, the Administrative Agent and some or all of the Noteholders (in their sole discretion) in accordance with Section 2.8 of the Note Purchase
Agreement.

LLC Agreement: The Limited Liability Company Agreement of the Transferor, dated as of June 19, 2009, as amended,
supplemented or modified from time to time.

Loan: A commercial loan evidenced by an Equipment Note and the related security
agreement that grants a security interest in the related Equipment, including, after the applicable addition date, Substitute Loans.

Loan Balance: With respect to any Loan, as of an Accounting Date, the Initial Loan Balance thereof minus the sum of: (i) the principal portion of all Scheduled Payments received on or after the applicable Loan Cutoff Date and on
or prior to the Accounting Date, (ii) the principal portion of all Prepayments received, and (iii) the principal portion of Proceeds from any Insurance Policies covering the Equipment, Liquidation Proceeds and Proceeds from any Guaranties
received and allocated to principal by the Servicer (it being understood that Servicer Advances with respect to any Loan do not decrease the Loan Balance of such Loan).

Loan Borrowing Base Shortfall: As of any date of determination the excess (if any) of (x) the then Aggregate Equipment Loan Note Principal Balance over (y) the Equipment Loan Borrowing Base as of such
date.

Loan Collection Account: The account designated as such, established and maintained pursuant to Section 6.03 of the
Pooling and Servicing Agreement.

Loan Conversion Date: The earliest to occur of (v) the date elected as such Loan Conversion
Date by the Originator with at least thirty (30) days prior written notice to the Administrative Agent; provided that if such termination occurs within eighteen (18) months of the Closing Date, such termination may only occur with the
consent of the Noteholders, (w) the Scheduled Termination Date, (x) the date on which a Rapid Amortization Event first occurs, (y) the date on which the Originators revolving credit commitments under the Credit Agreement expire,
unless extended or replaced with a substantially similar revolving credit commitment with equal or greater liquidity availability, (z) the Purchase Termination Date and (aa) the Liquidity Termination Date with respect to all Committed
Purchasers then party to the Note Purchase Agreement. Notwithstanding the foregoing, in the event that pursuant to Section 2.8 of the Note Purchase Agreement, one or more of the Committed Purchasers does not consent to the extension of the
Liquidity Termination Date beyond June 25, 2010, the requirement that the Originator obtain the consent of the Noteholders pursuant to clause (v) above shall no longer apply.

Loan Credit and Collection Policy: With respect to the Equipment Loans, the Credit and Collection Policy and procedures of the initial Servicer as
in effect on the Closing Date, a true and complete copy of which (to the extent reflected in written form) has been provided to the Noteholders, as the same shall be amended from time to time as permitted by the Pooling and Servicing Agreement or,
if a successor Servicer shall have been appointed, the standard credit and collection policies of such successor Servicer as shall be in effect from time to time provided that such credit and collection policies shall have been approved by the
Noteholders.



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Loan Cutoff Date: With respect to the initial transfer, the Initial Cutoff Date; and with respect
to transfers of Loans on any subsequent Purchase Date, the close of business on the third Business Day prior to such Purchase Date.

Loan File: The documents pertaining to a particular Loan, all other documents or instruments evidencing or governing such Loan and all other agreements, instruments, documents and records maintained by the Servicer on behalf of the
Issuer and relating to such Loan.

Loan Lockbox: The post office box specified in the Domestic Lockbox Agreement.

Loan Lockbox Account: As defined in Section 6.01(a) of the Pooling and Servicing Agreement.

Loan Schedule: The list of Loans to be delivered to the Custodian in connection with the delivery of Collateral Documents.

Loan Servicing Standards: As defined in Section 3.01 of the Pooling and Servicing Agreement.

Lockbox Accounts: Collectively, the Loan Lockbox Account, the Domestic Receivables Lockbox Account and the Foreign Receivables Lockbox Account.

Lockbox Agreements: The Domestic Lockbox Agreement and the Foreign Receivables Lockbox Agreement each as amended, supplemented or
modified or superceded from time to time.

Lockbox Bank: Bank of America, N.A., U.S. Bank, National Association, and any of their
respective successors in interest thereof, or any other Lockbox Bank that is an Eligible Institution designated by the Servicer and acceptable to the Administrative Agent and the Indenture Trustee.

Lockboxes: Collectively, the Loan Lockbox and the Receivables Lockboxes.

Loss Horizon Ratio: For any Monthly Period, an amount equal to the sum of the Receivables originated in such Monthly Period and the immediately
preceding six Monthly Periods, divided by the Net Receivables Balance on the related Accounting Date. For purposes of calculating the Loss Horizon Ratio, the term Receivables, when used in reference to periods prior to the Closing Date, shall mean
all of the trade receivables owned by Alliance Laundry Equipment Receivables Trust 2005-A.

Loss Reserve: As calculated in each
Servicers Certificate relating to the most recently ended Monthly Period, the percentage resulting from the following formula:

2.25
x LHR x PLR



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where:

LHR = Loss Horizon Ratio for such Monthly Period

PLR = Peak Loss Ratio for such Monthly Period

Lyon: Lyon Financial Services, Inc. (d/b/a U.S. Bank Portfolio Services).

Manager: AMACAR Group, L.L.C.

Management Fee: An annual fee equal to $7,500 as set forth in that certain Independent Manager Services Agreement, dated as of June 26, 2009, among the Manager and the Transferor, as amended or supplemented or replaced from time
to time.

Market Disruption Spread: Zero unless a notice delivered pursuant to part (b) of the definition of Eurodollar
Disruption Event is in effect, in which case, such spread shall be a rate per annum equal to 1.00%.

Minimum Excess Spread: Means
1.00%.

Monthly Period: With respect to a Determination Date, a Record Date and a Distribution Date, the calendar month preceding
the month in which such date occurs. With respect to an Accounting Date, the calendar month in which such Accounting Date occurs.

Moodys: Moodys Investors Service, Inc.

Net Equipment Loans Balance: As of any date of determination, an
amount equal to (x) the sum of all Loan Balances of all Eligible Equipment Loans then owned by the Issuer minus (y) the sum of (i) any security deposits held by, or on behalf of, the Issuer with respect to all such Eligible Equipment
Loans and (ii) the Excess Loan Concentration Amount.

Net Receivables Balance: As of any date of determination, (x) the
then Adjusted Receivables Balance minus (y) the Excess Receivables Concentration Amount.

New York UCC: The UCC as in effect in
the State of New York.

Note Principal Balance: With respect to any Note as of any date of determination the excess of (x) all
Advances made by the Holder of such Note on and after the Closing Date over (y) the cumulative amount of all principal payments and prepayments actually received by such Holder on and after the Closing Date.

Note Purchase Agreement: The Note Purchase Agreement dated as of June 26, 2009, among the Issuer, the Servicer, the Transferor, the
Administrative Agent, the Noteholders and the Agents as amended and supplemented from time to time.

Note Register: With respect to
any class of Notes, the register of such Notes specified in Section 2.4 of the Indenture.



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Note Registrar: The registrar at any time of the Note Register, appointed pursuant to
Section 2.4 of the Indenture.

Noteholders: Holders of the Notes pursuant to the Indenture and, with respect to any class of
Notes, Holders of such class of Notes pursuant to the Indenture.

Notes: Collectively, the Equipment Loan Notes and the Receivables
Notes.

NPA Indemnified Amounts: The amounts payable pursuant to Sections 2.3, 2.4, 2.5 and 2.6 of the Note Purchase Agreement.

Obligor: With respect to any Loan, the purchaser or any co-purchaser of the related Equipment or any other Person, other than the
maker of any Guaranty, who owes payments under a Loan. With respect to any Receivable, the Person who owes payment under a Receivable.

OC Percentage: A percentage equal to (i) 100% minus (ii) the percentage equivalent of the Outstanding Amount of the Equipment Loan Notes divided by the Net Equipment Loan Balance.

Officers Certificate: A certificate signed by any Authorized Officer of the Issuer, under the circumstances described in, and otherwise
complying with, the applicable requirements of Section 12.1 of the Indenture, and delivered to the Indenture Trustee. Unless otherwise specified, any reference in the Indenture to an officers certificate shall be to an Officers
Certificate of any Authorized Officer of the Issuer.

Opinion of Counsel: A written opinion of counsel, who may, except as otherwise
expressly provided, be an employee of the Transferor or the Servicer. In addition, for purposes of the Indenture: (i) such counsel shall be satisfactory to the Indenture Trustee and the Administrative Agent; (ii) the opinion shall be
addressed to the Indenture Trustee as Trustee and the Administrative Agent; and (iii) the opinion shall comply with any applicable requirements of Section 12.1 of the Indenture and shall be in form and substance satisfactory to the
Indenture Trustee and the Administrative Agent.

Optional Purchase Price: As defined in Section 10.01 of the Pooling and
Servicing Agreement.

Originator: Alliance Laundry Systems LLC.

Outstanding: With respect to the Notes, as of the Determination Date, all Notes theretofore authenticated and delivered under the Indenture
except:

(i) Notes theretofore canceled by the Indenture Trustee or delivered to the Indenture Trustee for cancellation;

(ii) Notes or portions thereof the payment for which money in the necessary amount has been theretofore deposited with the
Indenture Trustee in trust for the Holders of such Notes; provided, however, that if such Notes are to be redeemed, notice of such redemption has been duly given pursuant to the Indenture or provision therefor, satisfactory to the Indenture Trustee,
has been made; and



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(iii) Notes in exchange for or in lieu of other Notes which have been authenticated and
delivered pursuant to the Indenture unless proof satisfactory to the Indenture Trustee is presented that any such Notes are held by a bona fide purchaser;

provided, however, that in determining whether the Holders of the requisite Outstanding Amount of the Notes have given any request, demand, authorization, direction, notice, consent or waiver hereunder or under any Basic
Document, Notes owned by the Issuer, any other obligor upon the Notes, the Transferor or any Affiliate of any of the foregoing Persons shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Indenture Trustee
shall be protected in relying upon any such request, demand, authorization, direction, notice, consent or waiver, only Notes that the Indenture Trustee knows to be so owned shall be so disregarded. Notes so owned that have been pledged in good faith
may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Indenture Trustee the pledgors right so to act with respect to such Notes and that the pledgee is not the Issuer, any other obligor upon the Notes, the
Transferor or any Affiliate of any of the foregoing Persons.

Outstanding Amount: As of any date, the aggregate principal amount of
all Notes, or a class of Notes, as applicable, Outstanding at such date.

Outstanding Obligations: As of any date of determination
an amount equal to the sum of (i) the then outstanding principal balance of, and accrued interest payable on, all Notes issued under the Indenture or any Note Purchase Agreement and (ii) all other amounts owing to Noteholders or to any
Person under the Indenture, any Note Purchase Agreement or any other Basic Document.

Owner: For purposes of the Purchase Agreement,
the Custodial Agreement and the Pooling and Servicing Agreement, the Owner of a Loan or Receivable means (i) ALER until the execution and delivery of the Transfer and Servicing Agreements and (ii) thereafter, the Issuer;
provided that ALS or ALER, as applicable, shall be the Owner of any Loan or Receivable from and after the time that such Person shall acquire such Loan or Receivable, as the case may be, pursuant to Section 6.4 of the
Purchase Agreement, Sections 2.12 and 3.08, as applicable, of the Pooling and Servicing Agreement and any other provision of the Transfer and Servicing Agreements.

Owner Trust Estate: All right, title and interest of the Trust in and to the property and rights assigned to the Trust pursuant to Article II of the Pooling and Servicing Agreement, all funds on deposit from
time to time in the Lockbox Accounts, Reserve Account, Collection Accounts and the Certificate Distribution Account and all other property of the Trust from time to time, including any rights of the Owner Trustee and the Trust pursuant to the
Pooling and Servicing Agreement and the Administration Agreement.

Owner Trustee: Wilmington Trust Company, a Delaware banking
corporation, not in its individual capacity but solely as trustee under the Trust Agreement, or any successor trustee under the Trust Agreement.



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Owner Trustee Fee: An initial fee and first year annual fee to be paid to the Owner Trustee on the
Closing Date and the annual fee to be paid to the Owner Trustee on each anniversary of the Closing Date as determined in a separate fee agreement between the depositor and the Owner Trustee.

Party: A Party as defined in Section 7.01 of the Pooling and Servicing Agreement.

Paying Agent: With respect to the Indenture, the Indenture Trustee or any other Person that meets the eligibility standards for the Indenture
Trustee specified in Section 6.11 of the Indenture and is authorized by the Issuer to make the payments to and distributions from the Collection Account and the Note Distribution Account, including payment of principal of or interest on the
Notes on behalf of the Issuer. With respect to the Trust Agreement, any paying agent or co-paying agent appointed pursuant to Section 3.4 of the Trust Agreement that meets the eligibility standards for the Owner Trustee specified in
Section 6.13 of the Trust Agreement, and initially the Owner Trustee.

Payment Intangibles: Has the meaning given to such term
in Section 9-102(a) of the UCC.

Peak Loss Ratio: For any Monthly Period, the highest rolling three-month average Default Ratio
 Loss Reserve calculated during the twelve Monthly Periods ending on the related Accounting Date.

Percentage: With respect to
any Noteholder and its Equipment Loan Commitment or Receivables Commitment, as the case may be, as of any date of determination, the percentage equivalent of a fraction, the numerator of which is the Equipment Loan Commitment or Receivables
Commitment, as the case may be, of such Noteholder and the denominator of which is equal to the sum of the Equipment Loan Commitments or Receivables Commitments, as the case may be, of all Noteholders of such class.

Permitted Adverse Claim: As defined in the Purchase Agreement.

Person: Any legal person, including any individual, corporation, limited liability company, partnership, joint venture, association, joint stock company, trust, unincorporated organization or government or any
agency or political subdivision thereof.

Physical Property: (i) Bankers acceptances, commercial paper, negotiable
certificates of deposit and other obligations that constitute instruments within the meaning of Section 9-102(a) of the UCC and are susceptible of physical delivery and (ii) certificated securities.

Pooling and Servicing Agreement: The Pooling and Servicing Agreement, dated as of June 26, 2009, among ALS, the Transferor and the Issuer, as
amended, supplemented or modified from time to time.

Predecessor Note: With respect to any particular Note, every previous Note
evidencing all or a portion of the same debt as that evidenced by such particular Note; and, for the purpose of this definition, any Note authenticated and delivered under Section 2.5 of the Indenture in lieu of a mutilated, lost, destroyed or
stolen Note shall be deemed to evidence the same debt as the mutilated, lost, destroyed or stolen Note.



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Prepayment: Collections on a Loan held by the Trust made during a Monthly Period (including
Warranty Payments and Administrative Purchase Payments) which are not late fees, prepayment charges or certain other similar fees or charges and which would be allocated to principal prepayments pursuant to Section 3.11 of the Pooling and
Servicing Agreement.

Principal Distributable Amount: For each Distribution Date, an amount equal to the product of (x) the
Equipment Loan Advance Rate and (y) the Scheduled Payments (including prepayments) on the Loans during the related Interest Period.

Proceeding: Any suit in equity, action at law or other judicial or administrative proceeding.

Proceeds: Has the
meaning given in Section 9-102(a)(64) of the UCC and, in any event, shall include (i) any and all Accounts, Chattel Paper, Instruments, cash or other proceeds payable to the Issuer from time to time in respect of the Collateral,
(ii) any and all proceeds of any insurance, indemnity, warranty or guaranty payable to the Issuer from time to time with respect to any of the Collateral, (iii) any and all payments (in any form whatsoever) made or due and payable to the
Issuer from time to time in connection with any requisition, confiscation, condemnation, seizure or forfeiture of all or any part of the Collateral above by any Governmental Authority (or any Person acting under color of Governmental Authority), and
(iv) any and all other amounts from time to time paid or payable under or in connection with any of the Collateral.

Program:
As defined in Section 5.02(a) of the Pooling and Servicing Agreement.

PSA Assignment: The certificate substantially in the
form of Exhibit A-2 to the Pooling and Servicing Agreement.

Purchase Agreement: The Purchase Agreement, dated as of
June 26, 2009, between ALS and the Transferor, as amended, supplemented or modified from time to time in accordance with its terms.

Purchase Date: As defined in the Purchase Agreement.

Purchase Termination Date: The earlier to occur of the date
(other than a Receivables Conversion Date) specified in Section 7.1 or Section 7.2 of the Purchase Agreement.

Purchased
Property: As of any date, means all of the Loans and Receivables transferred by ALS to ALER pursuant to Section 2.1 of the Purchase Agreement as of or prior to such date.

Purchasers Interest: A percentage, calculated in accordance with the following formula:



|        |  |                   
|------- |  | ------------------
|PI    = |  | (NPB + RRCSA)     
|        |  | (NRB + RLCA + RRA)



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|       |  |   |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|------ |  | - |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Where: |  |   |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|       |  |  
|PI     |  | = |  | Purchasers Interest                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|       |  |  
|NPB    |  | = |  | the outstanding principal of the Receivables Notes                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|       |  |  
|RRCSA  |  | = |  | the RRCS x NRB                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|       |  |  
|RRCS   |  | = |  | the Receivables Required Credit Support                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|       |  |  
|NRB    |  | = |  | the Net Receivables Balance                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|       |  |  
|RLCA   |  | = |  | the sum of (a) the lesser of (i) the Receivables LC Amount and (ii) the actual amount available under Eligible Letters of Credit that is allocated to the Receivables Notes
plus (b) the amount of cash on deposit in the Reserve Account representing Proceeds of draws under Letters of Credit under the circumstances described in Section 4.1(c) of the Indenture (RA Cash) and allocated to the
Receivable Notes plus (c) any additional cash on deposit in the Reserve Account designated to be in substitution of Eligible Letters of Credit (collectively with RA Cash, LC Substitute Cash) and allocated to the Receivables Notes
|       |  |  
|RRA    |  | = |  | the lesser of (x) 1% x NRB (y) the excess of the actual amount on deposit in the Reserve Account that is allocated to the Receivables Notes over the amounts of RA Cash and LC
Substitute Cash allocated to the Receivables Notes                                                                                                                                                                                                                                                                                                                                                                                                             

Qualified Special Purpose Entity: As defined in accordance with GAAP as such term is
defined on the date of the Credit Agreement.

RA Cash: The amount of cash on deposit in the Reserve Account representing Proceeds of
draws under Letters of Credit under the circumstances described in Section 4.1(c) of the Indenture.

Rapid Amortization Event:
As defined in Article IV of the Indenture.

Rapid Amortization Step-Up Amount: An amount of interest that would accrue on the
Receivables Notes or the Equipment Loan Notes, as applicable, using one percent (1%) per annum as the rate of interest.

Rating
Agencies: As of any date, the nationally recognized statistical rating organizations requested by the Transferor to provide ratings on the Notes which are rating the Notes on such date.



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Receivables: Any right to payment (other than a right to payment under any Equipment Loans),
whether constituting an account, chattel paper, instrument, general intangible or otherwise, arising from the sale of goods, services or future services by a Seller or an Originator and includes the right to payment of any interest or finance
charges and other obligations with respect thereto and any other rights to payment recorded as a receivable on a Sellers or an Originators accounts receivable ledger; provided that any such receivables shall not include intercompany
receivables arising between a Seller or an Originator and any Affiliate thereof or any receivables not denominated in Dollars.

Receivables Available Amount: For any Distribution Date, with respect to the related Monthly Period, or with respect to the first Distribution Date, the period from and including the Initial Cutoff Date to the last day of the related
Monthly Period, the sum of, without duplication, (1) all Collections on the Receivables held by the Trust in the Receivables Collection Account, (2) all Proceeds, Guarantees to the extent received by the Trust, (3) any amounts drawn
from the Reserve Account, (4) any amounts drawn from the Letters of Credit, (5) all Servicer Modification Credit Proceeds and (6) earnings on amounts in the relevant Accounts.

Receivables Borrowing Base: Is an amount equal to the sum of (A) product of (i) 100% minus the Receivables Required Credit Support
(expressed as a percentage of the Net Receivables Balance) and (ii) the Receivables Collateral Value, (B) the Receivables LC Amount including amounts drawn pursuant to Sections 3.27(d) and 3.27(e) of the Indenture and (C) the amount
in the Reserve Account related to the Receivables (as determined in accordance with Section 8.7 of the Indenture).

Receivables
Borrowing Base Shortfall: Shall exist if, on any date of determination (including each date of transfer for any Receivables), the Receivables Borrowing Base is less than the then unpaid principal balance of the Receivables Notes.

Receivables Borrowing Date: As defined in Section 1.1 of the Note Purchase Agreement.

Receivables Collateral Value: As of any date of determination, an amount equal to the then Net Receivables Balance.

Receivables Collection Account: The account designated as such, established and maintained pursuant to Section 6.04(a) of the Pooling and
Servicing Agreement.

Receivables Commitment: Sixty Million Dollars ($60,000,000). On or after the Receivables Conversion Date, the
Receivables Commitment shall be zero.

Receivables Conversion Date: The earlier to occur of (x) the Loan Conversion Date and
(y) the date elected as such Receivables Conversion Date by the Originator with at least thirty (30) days prior written notice to the Administrative Agent.

Receivables Credit and Collection Policy: With respect to the Receivables, the Credit and Collection Policy and procedures of the initial Servicer as in effect on the Closing Date, a true and complete copy of
which (to the extent reflected in written form) has been provided to the Noteholders, as the same shall be amended from time to time as permitted by the Pooling and Servicing Agreement or, if a successor Servicer shall have been appointed, the
standard credit and collection policies of such successor Servicer as shall be in effect from time to time provided that such credit and collection policies shall have been approved by the Noteholders.



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Receivables Fee: For each Distribution Date and Noteholder, an amount equal to the sum, for each
day during the Interest Period, of an amount equal to the aggregate, for all Advances under the Receivables Notes then outstanding, equal to the sum of (a) the product of (i) the principal amount of such Advance (or a portion thereof),
(ii) a rate equal to the sum of (x) the Cost of Funds Rate on such day and (y) the Applicable Margin and (iii) 1/360; plus (b) either (i) if such day is subsequent to the occurrence of an Event of Default an additional
amount equal to the Default Step-Up Amount or (ii) if such day is subsequent to the occurrence of a Rapid Amortization Event (other than a Rapid Amortization Event caused by an Event of Default), an additional amount equal to the Rapid
Amortization Step-Up Amount.

Receivables Files: All documents or instruments evidencing or governing such Receivable and all other
agreements, instruments, documents and records maintained by Servicer on behalf of the Issuer relating to such Receivable.

Receivables
LC Amount: The undrawn amount of the Letters of Credit that are attributable (as determined in accordance with Section 8.7 of the Indenture) to the Receivables Notes.

Receivables Lockbox: Either or both, as the context may require, of the Domestic Receivables Lockbox and the Foreign Receivables Lockbox.

Receivables Lockbox Account: Either or both, as the context may require, of the Domestic Receivables Lockbox Account and the
Foreign Receivables Lockbox Account.

Receivables Note: Any one of the Notes substantially in the form of Exhibit A-2 to the
Indenture, issued pursuant to the terms of the Indenture.

Receivables Note Interest Payment: For each Distribution Date and
Noteholder, an amount equal to the sum, for each day during the Interest Period, of an amount equal to the aggregate, for all Advances under the Receivables Notes then outstanding, equal to the sum of (a) the product of (i) the principal
amount of such Advance (or a portion thereof), (ii) a rate equal to the sum of (x) the Cost of Funds Rate on such day and (y) the Applicable Margin and (iii) 1/360; plus (b) either (i) if such day is subsequent to the
occurrence of an Event of Default an additional amount equal to the Default Step-Up Amount or (ii) if such day is subsequent to the occurrence of a Rapid Amortization Event (other than a Rapid Amortization Event caused by an Event of Default),
an additional amount equal to the Rapid Amortization Step-Up Amount.

Receivables Note Senior Interest Amount: For each Distribution
Date and each Noteholder, an amount equal to the sum, for each day during the related Interest Period, of an amount equal to the aggregate, for all Advances under the Receivables Notes then outstanding, equal to the product of (i) the principal
amount of such Advance (or a portion thereof), (ii) a rate equal to CP Rate plus 300 basis points (3.00%) and (iii) 1/360.

Receivables Noteholder: A Holder of a Receivables Note.



41



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Receivables Payoff Date: As defined in Section 8.4(b) of the Indenture.

Receivables Required Credit Support: The amount which is calculated as of the end of each Accounting Date and equal to the greater of (i) the
sum of the Loss Reserve, Dilution Reserve and Yield Reserve and (ii) the sum of the Yield Reserve and the Reserve Floor. The Receivables Required Credit Support is effective for the period beginning on the Determination Date on which the
information is reported until the day prior to the following Determination Date.

Receivables Reserve Requirement: With respect to
any Distribution Date, the amount of the Reserve Account Required Amount allocated to the Receivables Notes pursuant to Section 8.7 of the Indenture.

Receivables Servicing Standards: As defined in Section 4.02 of the Pooling and Servicing Agreement.

Receivables Unused Facility Fee: As defined in Section 2.7(f) of the Indenture.

Record Date: With respect to
any Distribution Date, the related Accounting Date.

Records: As defined in the Purchase Agreement.

Recourse Limit: As of any date of determination, an amount equal to the greater of (i) 13% of the Outstanding Amount of the Notes at such
time and (ii) the lower of the maximum amount of Limited Originator Recourse permitted at such time pursuant to (x) the Credit Agreement (as such agreement may be amended, supplemented, restated, replaced or otherwise modified
from time to time) or (y) the Indenture, dated as of January 27, 2005, among ALH Finance LLC, ALH Finance Corporation and the Bank of New York Trust Company, N.A., as Trustee (as such agreement may be amended, supplemented, restated,
replaced or otherwise modified from time to time).

Redemption Date: The Distribution Date specified by the Servicer or the Issuer
pursuant to Section 10.1(a) of the Indenture.

Redemption Price: An amount equal to the sum of the Outstanding Obligations, as
of the Redemption Date.

Reference Bank Rate: The per annum rate determined on the basis of the rates at which deposits in Dollars
are offered by the reference banks (which will be four major banks that are engaged in transactions in the London interbank market, selected by the Indenture Trustee after consultation with the Transferor) as of 11:00 a.m., London time, on any date
of determination to prime banks in the London interbank market for a period of one month, in amounts approximately equal to the principal amount of the then outstanding Equipment Loan Notes or Receivables Notes, as the case may be. The Indenture
Trustee will request the principal London office of each of the reference banks to provide a quotation of its rate. If at least two quotations are provided, the rate will be the arithmetic mean of the quotations, rounded upwards to the nearest
one-sixteenth of one percent. If on that date fewer than two quotations are provided as requested, the rate will be the arithmetic mean, rounded upwards to the nearest one-sixteenth of



42



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one percent, of the rates quoted by one or more major banks in New York City, selected by the Indenture Trustee after consultation with the Transferor, as of
11:00 a.m., New York City time, on the date to leading European banks for United States dollar deposits for a period of one month in amounts approximately equal to the principal amount of the then outstanding Equipment Loan Notes or Receivables
Notes, as the case may be.

Registered Owner: As defined in Section 3.1(a) of the Trust Agreement.

Regulatory Change: As defined in the Note Purchase Agreement.

Related Assets: As defined in the Purchase Agreement.

Related Security: As defined in the
Purchase Agreement.

Reporting Date: As defined in the Purchase Agreement.

Required Deposit Rating: A rating on short-term unsecured debt obligations of P-1 by Moodys and A-1 by S&P. Any requirement that
short-term unsecured debt obligations have the Required Deposit Rating means that such short-term unsecured debt obligations have the foregoing required ratings from each of such rating agencies.

Required Noteholders: At any time that (a) any Noteholder holds a majority share of the aggregate principal balance of the Outstanding Notes,
then such Noteholders that hold an aggregate pro rata share of equal to or greater than two-thirds of the aggregate principal balance of the Outstanding Notes; or (b) no single Noteholder holds a majority share of the aggregate principal
balance of the Outstanding Notes, then such Noteholders that hold an aggregate pro rata share of greater than 50% of the aggregate principal balance of the Outstanding Notes.

Reserve Account: The account designated as such, established and maintained pursuant to Section 6.05 of the Pooling and Servicing Agreement.

Reserve Account Required Amount: With respect to any Distribution Date, means the sum of (A) the lesser of:

(a) the sum of (x) 1.0% of the Net Equipment Loans Balance, as of the last day of the immediately preceding Monthly Period (or, upon
the occurrence of an Event of Default or Rapid Amortization Event, as of the Accounting Date immediately prior to the occurrence of such event) and (y) 1.0% of the Net Receivables Balance, as of the last day of the immediately preceding Monthly
Period (or, upon the occurrence of an Event of Default or Rapid Amortization Event, as of the Accounting Date immediately prior to the occurrence of such event); and

(b) the Aggregate Note Principal Balance;

(B) the amount of any Letter of Credit Drawings pursuant to Section 3.27(d) or Section 3.27(e) of the Indenture (less distributions from the deposit of such amount from the Reserve Account to the extent such amount is being held
pending application in respect of principal or interest on the outstanding Notes);



43



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and (C) if the counterparty to the Interest Rate Cap Agreement then in effect is downgraded by the applicable Rating
Agency below either A-1/ P-1 or AA-/ Aa3, the Ineligible Cap Reserve; provided that such Ineligible Cap Reserve shall only apply for so long as such counterparty is rated by the applicable
Rating Agency below either A-1/ P-1 or AA-/ Aa3.

Notwithstanding the foregoing, at all times on and after
the Loan Conversion Date (except for such designation being due to (x) of the definition thereof) the amount set forth in clause (A) of the above definition of Reserve Account Required Amount will be the lesser of: (a) the sum
of (x) the greater of (i) 0.75% of the Net Equipment Loans Balance, as of the Loan Conversion Date and (ii) 1.0% of the Net Equipment Loans Balance, as of the last day of the immediately preceding Monthly Period (or, upon the
occurrence of an Event of Default or Rapid Amortization Event, as of the Accounting Date immediately prior to the occurrence of such event) and (y) 1.0% of the Net Receivables Balance, as of such date and (b) the Aggregate Note Principal
Balance.

Reserve Floor: For any Monthly Period, the percentage resulting from the following formula:

RFCF + (the greater of (I) ED x DHR and (II) the lesser of (a) 10% and (b)(i) the sum of the Eligible Receivables for the second, third and 50%
of the fourth largest Obligors, divided by (ii) the Adjusted Receivables Balance); provided that the preceding clause (II) shall only apply until such time as the Servicer has notified S&P that such clause (II) is no longer
applicable

where:

RFCF = Reserve Floor  Concentration Factor for such Monthly Period

ED = Expected Dilution for such Monthly Period

DHR = Dilution Horizon Ratio for such Monthly Period

Reserve Floor  Concentration Factor: For each Monthly Period, 31.00%.

Responsible
Officer: With respect to the Indenture Trustee or the Owner Trustee, any officer within the Corporate Trust Office of such trustee, and, with respect to the Servicer, the President, any Vice President, Assistant Vice President, Secretary,
Assistant Secretary or any other officer or assistant officer of such Person customarily performing functions similar to those performed by any of the above designated officers and also, with respect to a particular matter, any other officer to whom
such matter is referred because of such officers knowledge of and familiarity with the particular subject.

Rule 144A: Rule
144A under the Securities Act.

S&P: Standard & Poors Ratings Services, a division of The McGraw-Hill Companies,
Inc.



44



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Sales Tax Allowance: An allowance which shall be $100,000 initially, but is subject to annual
review and revision by the Servicer with the consent of the Administrative Agent (acting at the direction of the Required Noteholders).

Schedule of Loans: The schedule of Loans, annexed to the Pooling and Servicing Agreement and on file at the locations listed on Exhibit B to the Pooling and Servicing Agreement as it may be amended from time to time in
accordance with the Pooling and Servicing Agreement, and the schedule of Loans attached to the Initial PSA Assignment.

Schedule of
Receivables: The schedule of Receivables, annexed to the Pooling and Servicing Agreement and on file at the locations listed on Exhibit B-2 to the Pooling and Servicing Agreement, as it may be amended from time to time in accordance with
the Pooling and Servicing Agreement.

Scheduled Payment: A payment which (i) is in the amount required under the terms of a
Loan then in effect, except, in the case of any Loan secured by more than one item of Equipment, including any changes in the terms of such Loan resulting from a Full Prepayment with respect to any item of Equipment related thereto, (ii) is
payable by the Obligor and (iii) includes finance charges equivalent to the then applicable Annual Percentage Rate. When Scheduled Payment is used with reference to a Distribution Date, it means the payment which is due in the related Monthly
Period; provided, however, that in the case of the first Distribution Date, the Scheduled Payment shall include all such payments due from the Obligor on or after the Initial Cutoff Date.

Scheduled Termination Date: June 25, 2011.

Second Tier Purchased Assets: As defined in Section 2.01 of the Pooling and Servicing Agreement.

Securities: The Notes and the beneficial interests in the Issuer.

Securities Act: The Securities Act of 1933, as
amended.

Security Entitlements: Has the meaning given to such term in Section 8-102(a) of the UCC.

Securityholder: Any of the Noteholders and Registered Owners.

Seller: The Person executing the Purchase Agreement as the Seller, or its successor in interest.

Servicer: The Person executing the Pooling and Servicing Agreement as the Servicer, or its successor in interest pursuant to Section 8.02 of the Pooling and Servicing Agreement.

Servicer Advance: The amount, as of an Accounting Date, which the Servicer advances on the respective Loan pursuant to Section 6.10 of the
Pooling and Servicing Agreement.



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Servicer Advance Reimbursement Amount: With respect to the Equipment Loan Notes for any
Distribution Date, the aggregate for each Loan the sum of (a) amounts received in the related Monthly Period on each Loan to the extent that the Servicer has previously made an unreimbursed Servicer Advance and (b) to the extent that the
Servicer, in its sole discretion, determines that any prior unreimbursed Servicer Advances are not collectable, the unreimbursed amounts of those Servicer Advances.

Servicers Certificate: A certificate, completed by and executed on behalf of the Servicer, in accordance with Section 3.10 of the Pooling and Servicing Agreement.

Servicer Default: As defined in Section 9.01 of the Pooling and Servicing Agreement.

Servicer Modification Credit: As defined in Section 3.08 of the Pooling and Servicing Agreement.

Servicer Modification Credit Amount: As defined in Section 3.08 of the Pooling and Servicing Agreement.

Servicing Fee: A fee payable to Servicer on each Distribution Date equal to the sum of (a) for the Equipment Loans held by the Issuer, the
product of one-twelfth of 1.00% and the average principal balance of the Equipment Loans held by the Issuer during the prior Monthly Period (less Defaulted Equipment Loans), and (b) for the Receivables held by the Issuer, the product of
one-twelfth of 1.00% and the average receivables balance during the prior Monthly Period and relating to the Receivables held by the Issuer.

Servicing Standards: Either or both, as the context may require, of the Loan Servicing Standards or the Receivables Servicing Standards.

Special Required Noteholders: At any time, if there are (a) three or fewer Noteholders, then such Noteholders shall be the Special Required Noteholders or (b) more than three Noteholders, then the
Noteholders that hold an aggregate pro rata share of equal to or greater than 81% of the aggregate principal balance of the Outstanding Notes shall be the Special Required Noteholders.

Specified Assets: As defined in Section 2.2 of the Purchase Agreement.

Subsequent Purchase Agreement Assignment: The assignment substantially in the form of Exhibit A-2 to the Purchase Agreement.

Substitute Loan: As defined in Section 2.13 of the Pooling and Servicing Agreement.

Substitution Assignment: As defined in Section 2.13 of the Pooling and Servicing Agreement.

Substitution Cutoff Date: As defined in Section 2.13(b) of the Pooling and Servicing Agreement.



46



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Substitution Date: The date on which a Substitution Loan is transferred pursuant to
Section 2.13 of the Pooling and Servicing Agreement.

Support Party: Has the meaning given to such term in the Note Purchase
Agreement.

Supporting Obligations: Has the meaning given to such term in Section 9-102(a) of the UCC.

Termination of Sale Notice: As defined in Section 7.1 of the Purchase Agreement.

Third Party Financier: As defined in the Purchase Agreement.

Transfer and Servicing Agreements: The Purchase Agreement, the assignments pursuant to Section 2.1 of the Purchase Agreement, the Pooling and Servicing Agreement, the Trust Agreement, the Indenture, the
Administration Agreement and the Custodial Agreement.

Transferor: Alliance Laundry Equipment Receivables 2009 LLC.

Transferors Interest: A percentage equal to 1 minus the Purchasers Interest.

Treasury Regulations: The regulations, including proposed or temporary regulations, promulgated under the Code. References herein to specific
provisions of proposed or temporary regulations shall include analogous provisions of final Treasury Regulations or other successor Treasury Regulations.

Trust: Alliance Laundry Equipment Receivables Trust 2009-A, a Delaware statutory trust created by the Trust Agreement.

Trust Agreement: The Trust Agreement dated as of June 19, 2009, between the Transferor and the Owner Trustee as amended, modified or supplemented from time to time.

Trust Estate: As defined in the Granting Clause of the Indenture.

Trustees: The Owner Trustee and the Indenture Trustee.

UCC: The Uniform Commercial Code as
in effect from time to time in the relevant jurisdiction.

UCC Collateral: Any property a security interest in which may be
perfected by filing under the applicable UCC.

UCC Equipment: Has the meaning given to such term in Section 9-102(a) of the
UCC.

Unpaid Balance: As defined in the Purchase Agreement.

Unused Facility Fee: Either or both, as the context may require, of the Equipment Unused Facility Fee and the Receivables Unused Facility Fee.

Unused Facility Fee Percentage: As defined in the Applicable Margin Fee Letter.



47



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Warranty Event: With respect to a Loan, the receipt by the Transferor of notice of an event or
condition that with the passage of time would result in such Loan becoming a Warranty Loan.

Warranty Loan: A Loan which the
Warranty Purchaser has become obligated to repurchase pursuant to Section 2.12 of the Purchase Agreement or Section 2.12 of the Pooling and Servicing Agreement.

Warranty Payment: With respect to a Distribution Date and to a Warranty Loan repurchased as of the related Accounting Date, the sum of (i) the Loan Balance of such Loan, (ii) the interest portion of
all due and past due and unpaid Scheduled Payments and (iii) any other amounts due and owing on such Loan.

Warranty Purchaser:
Either (i) the Transferor or Originator pursuant to Section 2.12 of the Pooling and Servicing Agreement or (ii) ALS pursuant to Section 2.12 of the Purchase Agreement.

Weighted Average Life: As of any date of determination and any Equipment Loans, the average amount of time that will elapse from such date to the
date of payment by the related Obligors on such Equipment Loans of each dollar of principal paid pursuant to the Scheduled Payments of such loans, assuming no losses or prepayments.

Weighted Average Seasoning: For each Eligible Equipment Loan, the original term of such Loan less the remaining term, multiplied by the current
Loan Balance of such Loan, and divided by the Aggregate Loan Balance.

Write-Off: As defined in the Purchase Agreement.

Yield Reserve: As of any date of determination, the percentage equal to the product of (i) 2.0 times the Days Sales Outstanding -
Receivables as of such date and (ii) the quotient with a numerator of (x) the sum of (a) 2.0 times the Cost of Funds Rate as determined in accordance with clause (i) of the definition thereof on such date plus (b) the sum of
the Applicable Margin, the Unused Facility Fee, the Indenture Trustee Fees, the Owner Trustee Fees, the Backup Servicer Fees and the Servicing Fees (each calculated (x) for a one (1) day period and (y) based only on the amounts
allocable to the Receivables Notes in accordance with the Indenture) and the denominator of which is 365.

Yield Supplement: As of
any date of determination in respect of any variable rate Equipment Loan, the product of (A) a fraction with (I) a numerator equal to (x) the absolute value of the negative difference, if any, of the effective interest rate on such
Equipment Loan at such date less the sum of (i) 1.00% (representing the rate of the Servicing Fee), (ii) the annualized percentage equivalent of sum of the Indenture Trustee Fees, the Owner Trustee Fees, the Custodian Fee and the Backup
Servicer Fees (each based only on the amounts allocable to the Equipment Loan Notes in accordance with the Indenture), (iii) the Minimum Excess Spread and (iv) the product of (x) the sum of (a) one-month LIBOR and (b) 3.50%
and (y) 100%  OC Percentage, and (II) a denominator of twelve and (B) the Loan Balance of such Loan.



48



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Yield Supplement Account: The account designated as such, established and maintained pursuant to
Section 6.12 of the Pooling and Servicing Agreement.

Yield Supplement Required Amount: With respect to any Distribution Date,
the sum for all Equipment Loans of the Yield Supplement at such time for each variable rate Equipment Loan.



49



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PART II - RULES OF CONSTRUCTION

(a) Accounting Terms. As used in this Appendix or the Basic Documents, accounting terms which are not defined, and accounting terms partly
defined, herein or therein shall have the respective meanings given to them under generally accepted accounting principles. To the extent that the definitions of accounting terms in this Appendix or the Basic Documents are inconsistent with the
meanings of such terms under generally accepted accounting principles, the definitions contained in this Appendix or the Basic Documents will control.

(b) Hereof, etc. The words hereof, herein and hereunder and words of similar import when used in this Appendix or any Basic Document will refer to this Appendix
or such Basic Document as a whole and not to any particular provision of this Appendix or such Basic Document; and Section, Schedule and Exhibit references contained in this Appendix or any Basic Document are references to Sections, Schedules and
Exhibits in or to this Appendix or such Basic Document unless otherwise specified. The word or is not exclusive.

(c)
Reference to Distribution Dates. With respect to any Distribution Date, the related Monthly Period, and the related Record Date, will mean the Monthly Period and Record Date, respectively, immediately preceding such
Distribution Date, and the relationships among Monthly Periods and Record Dates will be correlative to the foregoing relationships.

(d)
Number and Gender. Each defined term used in this Appendix or the Basic Documents has a comparable meaning when used in its plural or singular form. Each gender-specific term used in this Appendix or the Basic Documents has a comparable
meaning whether used in a masculine, feminine or gender-neutral form.

(e) Including. Whenever the term including
(whether or not that term is followed by the phrase but not limited to or without limitation or words of similar effect) is used in this Appendix or the Basic Documents in connection with a listing of items within a
particular classification, that listing will be interpreted to be illustrative only and will not be interpreted as a limitation on, or exclusive listing of, the items within that classification.

(f) Calculations. Whenever calculations are to be performed and a component of such calculation consists of information regarding the Receivables
or the Equipment for a time period prior to the Closing Date, such calculation shall be based on historical data, as contained in the model as it existed on the Closing Date.



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APPENDIX B

Notice Addresses and Procedures

All requests, demands, directions, consents, waivers, notices,
authorizations and communications provided or permitted under any Basic Document to be made upon, given or furnished to or filed with ALS, the Transferor, the Servicer, the Administrator, the Indenture Trustee, the Issuer, the Owner Trustee or the
Rating Agencies shall be in writing, personally delivered, sent by facsimile with a copy to follow via first class mail or mailed by certified mail-return receipt requested, and shall be deemed to have been duly given upon receipt:



| | (a) | in the case of the Transferor, at the following address:
| | --- | --------------------------------------------------------

Alliance Laundry Equipment Receivables 2009 LLC

c/o The Corporation Trust Company

1209 Orange Street

Wilmington, Delaware
19801

with a copy to:

Alliance Laundry Equipment Receivables 2009 LLC

Shepard Street and Hall Street

Suite 200

Ripon, WI 54971-0990

Attention: General Counsel

Telecopy:
920-748-4334

Confirmation: 920-748-4320

and

Ropes & Gray LLP

One International Place

Boston, MA
02110-2624

Attention: Winthrop Minot

Telecopy: 617-235-0076

Confirmation: 617-951-7364



| | (b) | in the case of the Servicer, at the following address:
| | --- | ------------------------------------------------------

Alliance Laundry Systems LLC

Shepard Street

P.O. Box 990

Ripon, WI 54971-0990

Attention: Chief Financial Officer

Telecopy: 920-748-1629

Confirmation: 920-748-1634



---

with a copy to:

Alliance Laundry Systems LLC

Shepard Street

P.O. Box 990

Ripon, WI 54971-0990

Attention: General Counsel

Telecopy: 920-748-4334

Confirmation: 920-748-4320

and

Ropes & Gray LLP

One International Place

Boston, MA
02110-2624

Attention: Winthrop Minot

Telecopy: 617-235-0076

Confirmation: 617-951-7364



| | (c) | in the case of the Custodian, at the following address:
| | --- | -------------------------------------------------------

Bank of America, N.A.

540 W. Madison Street

Mail Code IL4-540-18-53

Chicago, IL 60661

Attn: Chris Claffy



| | (d) | in the case of the Indenture Trustee, at its Corporate Trust Office
| | --- | -------------------------------------------------------------------



| | (e) | in the case of the Issuer or the Owner Trustee, to the Owner Trustee at its Corporate Trust Office, with copies to:
| | --- | -------------------------------------------------------------------------------------------------------------------

Alliance Laundry Equipment Receivables 2009 LLC

Shepard Street and Hall Street

Suite 200

Ripon, WI 54971-0990

Attention: Chief Financial Officer

Telecopy: 920-748-1629

Confirmation:
920-748-1634



2



---

and:

Alliance Laundry Equipment Receivables 2009 LLC

Shepard Street and Hall Street

Suite 200

Ripon, WI 54971-0990

Attention: General Counsel

Telecopy:
920-748-4334

Confirmation: 920-748-4320

The Issuer shall promptly transmit any notice received by it from the Noteholders to the Indenture Trustee and the Indenture Trustee shall likewise promptly transmit any notice received by it from the Noteholders to
the Issuer.



| | (f) | in the case of Moodys, to
| | --- | --------------------------

Moodys Investors
Service

ABS Monitoring Department

99 Church Street

New York, New York 10007

Telecopy: 212-552-4642

Confirmation: 212-553-0300



| | (g) | in the case of S&P, to
| | --- | ----------------------

Standard &
Poors Ratings Services,

a division of The McGraw-Hill Companies, Inc.

55 Water Street

New York, New York 10041

Attention: Asset Backed Surveillance Department

Telecopy: 212-438-2648

Confirmation: 212-438-2000



| | (h) | in the case of the Noteholders, to:
| | --- | -----------------------------------

Natixis Financial
Products Inc.

9 West 57thStreet, 36thFloor

New York, NY
10019

Attention: Yazmin Vasconez

Telecopy No.: 646-942-2361

Confirmation: 212-891-6176

E-mail: Agent_group@cm.natixis.com



3



---

BMO Capital Markets Corp.

115 S. LaSalle Street, 13th Floor West

Chicago, IL 60603

Attention: Conduit Management Team

Telecopy No.: (312) 461-3189 / (312) 294-4908

E-mail: fundingdesk@bmo.com

The Bank of Nova Scotia

One Liberty
Plaza, 26th Floor

New York, NY 10006

Attention: Michael Eden

Telecopy No.: (212) 225-5274

Confirmation: (212) 225-5007

E-mail:
michael_eden@scotiacapital.com

or at such other address as shall be designated by such party in a written notice to the other parties to this Agreement.

Where any Basic Document provides for notice to the Noteholders of any condition or event, such notice shall be sufficiently given (unless
otherwise expressly provided in a Basic Document) if it is in writing and mailed, first-class, postage prepaid to each Noteholder affected by such condition or event, at such Persons address as it appears on the Note Register not later than
the latest date, and not earlier than the earliest date, prescribed in such Basic Document for the giving of such notice. If notice to Noteholders is given by mail, neither the failure to mail such notice nor any defect in any notice so mailed to
any particular Noteholder shall affect the sufficiency of such notice with respect to other Noteholders, and any notice that is mailed in the manner herein provided shall conclusively be presumed to have been duly given regardless of whether such
notice is in fact actually received.



4



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APPENDIX C

CREDIT AGREEMENT



---

SCHEDULE 7.01

PERFECTION CERTIFICATE  TRANSFEROR

June 26, 2009

The undersigned, Alliance Laundry Equipment Receivables 2009 LLC (the Transferor), hereby certifies, with reference to the Pooling and Servicing Agreement
(the Pooling and Servicing Agreement), dated as of June 26, 2009 (terms defined in this certificate shall have the same meanings herein as specified in the Pooling and Servicing Agreement), among the Servicer, the Originator, the
Transferor and the Issuer, to the Issuer as follows:

1. Name. The exact legal name of the Company as that name appears on its
Certificate of Formation is as follows:

Alliance Laundry Equipment Receivables 2009 LLC

2. Other Identifying Factors.

(a)
The following is the mailing address of the Company:

Shepard and Hall Streets

Suite 200

Ripon, Wisconsin 54971

(b) If different from its mailing address, the Companys place of business or, if more than one, its chief executive office is
located at the following address:

None

(c) The following is the type of organization of the Company:

Limited Liability Company

(d) The following is the jurisdiction of the Companys organization:

Delaware

3. Other Names, Etc.

(a) The following is a list of all other names (including trade names or similar appellations) used by the Company, or any other business
or organization to which the Company became the successor by merger, consolidation, acquisition, change in form, nature or jurisdiction of organization or otherwise, now or at any time during the past five (5) years.

None

(b) Attached hereto is the
information required in Section 2 for any other business or organization to which the Company became the successor by merger, consolidation, acquisition, change in form, nature or jurisdiction of organization or otherwise, now or at any time
during the past five (5) years.

Not Applicable



---

4. Other Current Locations.

(a) The following are all other locations in the United States of America in which the Company maintains any books or records relating to any of the
Specified Assets consisting of accounts, instruments, chattel paper, general intangibles or mobile goods:

None

(b) The following are all other locations in the United States of America where any of the Specified Assets consisting of inventory or equipment is
located:

Not Applicable

(c) The following are the names and addresses of all persons or entities other than the Company, such as, consignees, warehousemen or purchasers of chattel paper, which have possession or are intended to have possession of any of the
Specified Assets consisting of instruments, chattel paper, inventory or equipment:

LaSalle Bank National Association

2571 Busse Road

Suite 200

Elk Grove Village, IL 60007

5. Prior Locations.

(a) Set forth below is the information required by Section 4(a) with respect to each location or
place of business previously maintained by the Company at any time during the past five (5) years in a state in which the Company has previously maintained a location or place of business at any time during the past four (4) months:

Not Applicable



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IN WITNESS WHEREOF, we have hereunto signed this Certificate as of the date first above written.



ALLIANCE LAUNDRY EQUIPMENT RECEIVABLES 2009 LLCBy:Name:Title: