**EXHIBIT 33.1**

 

**Certification Regarding Compliance withApplicable Servicing Criteria**

 

1.                             NewHolland Credit Company, LLC (“New Holland”) is responsible for assessingcompliance with the servicing criteria applicable to it under paragraph (d) ofItem 1122 of Regulation AB, as of and for the 12-month period ending December 31,2008 (the “Reporting Period”), as set forth in Appendix A hereto. Thetransactions covered by this report include publicly registered asset-backedsecurities transactions for which New Holland acted as servicer involvingequipment receivables,****other thantransactions registered prior to compliance with Regulation AB (the “Platform”);

 

2.                             NewHolland has engaged certain vendors (the “Vendors”) to perform specific,limited or scripted activities, and New Holland elects to take responsibilityfor assessing compliance with the servicing criteria or portion of theservicing criteria applicable to such Vendors’ activities as set forth inAppendix A hereto;

 

3.                             Exceptas set forth in paragraph 4 below, New Holland used the criteria set forth inparagraph (d) of Item 1122 of Regulation AB to assess the compliance withthe applicable servicing criteria;

 

4.                             Thecriteria listed in the column titled “Inapplicable Servicing Criteria” onAppendix A hereto are inapplicable to New Holland based on the activities itperforms, directly or through its Vendors, with respect to the Platform;

 

5.                             NewHolland has complied, in all material respects, with the applicable servicingcriteria to it as set forth on Appendix A hereto as of December 31, 2008and for the Reporting Period****withrespect to the Platform taken as a whole except as set forth in Appendix B.

 

6.                             NewHolland has not identified and is not aware of any material instance ofnoncompliance by the Vendors with the applicable servicing criteria to them asset forth on Appendix A hereto as of December 31, 2008 and for theReporting Period with respect to the Platform taken as a whole;

 

7.                             NewHolland has not identified any material deficiency in its policies andprocedures to monitor the compliance by the Vendors with the applicableservicing criteria to them as set forth on Appendix A hereto as of December 31,2008 and for the Reporting Period with respect to the Platform taken as a whole;

 

8.                             Noneof the Vendors are servicers as defined in Item 1101(j) of Regulation AB;

 

9.                             NewHolland has policies and procedures in place designed to provide reasonableassurance that the Vendors’ activities comply in all material respects with theservicing criteria applicable to such Vendors; and

 

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10.                           Deloitte &Touche LLP, an independent registered public accounting firm, has issued anattestation report on New Holland’s assessment of compliance with theapplicable servicing criteria as set forth on Appendix A hereto as of December 31,2008 and for the Reporting Period.

 

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| March 30,  2009 |                             |
|----------------------|----------------------------------|
|                 |                             |
| ** **           | ** **                       |
|                 | New Holland  Credit Company, LLC |
|                 |                             |
|                 |                             |
|                 | By:                              | /s/ Steven  C. Bierman |
|                 | Name:                            | Steven C.  Bierman |
|                 | Title:                           | President |

 

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APPENDIX A

 
| **SERVICING CRITERIA** | ** ** | **APPLICABLE  SERVICING   CRITERIA**                                                                                                                                                                    | ** ** | **INAPPLICABLE  SERVICING  CRITERIA**                                       | ** ** |
|-----------------------------|------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------|-----------------------------------------------------------------------------|------------|
| ** **                  | ** ** | ** **                                                                                                                                                                                                   | ** ** | ** **                                                                  | ** ** | **Performed  by** | ** ** | ** ** | ** ** |
| ** **                  | ** ** | **Performed  Directly  by  New **                                                                                                                                                                       | ** ** | **Vendor(s)  for which  New   Holland  is the  Responsible** | ** ** | **NOT performed  by New  Holland or by  subservicer(s) or  vendor(s)   retained by** | ** ** |
| **Reference**               | ** ** | **Criteria**                                                                                                                                                                                                 | ** ** | **Holland**                                                                 | ** ** | **Party** | ** ** | **New Holland** | ** ** |
|                        |       |                                                                                                                                                                                                         |       |                                                                        |       |   |   |   |   |
|                        | ** ** | **General Servicing Considerations**                                                                                                                                                                         |       |                                                                        |       |   |   |   |   |
|                        |       |                                                                                                                                                                                                         |       |                                                                        |       |   |   |   |   |
| 1122(d)(1)(i)               |       | Policies and  procedures are instituted to monitor any performance or other triggers and  events of default in accordance with the transaction agreements.                                                   | ** ** | **x**                                                                       |       |   |   |   |   |
| 1122(d)(1)(ii)              |       | If any  material servicing activities are outsourced to third parties, policies and  procedures are instituted to monitor the third party’s performance and  compliance with such servicing activities. | ** ** | **x**                                                                       |       |   |   |   |   |
| 1122(d)(1)(iii)             |       | Any  requirements in the transaction agreements to maintain a back-up servicer for the pool assets are maintained.                                                                                           | ** ** | **x**                                                                       |       |   |   |   |   |
| 1122(d)(1)(iv)              |       | A fidelity  bond and errors and omissions policy is in effect on the party participating  in the servicing function throughout the reporting period in the amount of  coverage required by and otherwise in  |       |                                                                        |       |   | ** ** | **x** |   |

 

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| **SERVICING CRITERIA** | ** ** | **APPLICABLE  SERVICING   CRITERIA**                                                                                                                                                                                                 | ** ** | **INAPPLICABLE  SERVICING  CRITERIA**                                       | ** ** |
|-----------------------------|------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------|-----------------------------------------------------------------------------|------------|
| ** **                  | ** ** | ** **                                                                                                                                                                                                                                | ** ** | ** **                                                                  | ** ** | **Performed  by** | ** ** | ** ** | ** ** |
| ** **                  | ** ** | **Performed  Directly  by  New **                                                                                                                                                                                                    | ** ** | **Vendor(s)  for which  New   Holland  is the  Responsible** | ** ** | **NOT performed  by New  Holland or by  subservicer(s) or  vendor(s)   retained by** | ** ** |
| **Reference**               | ** ** | **Criteria**                                                                                                                                                                                                                              | ** ** | **Holland**                                                                 | ** ** | **Party** | ** ** | **New Holland** | ** ** |
|                        |       | accordance  with the terms of the transaction agreements.                                                                                                                                                                                 |       |                                                                        |       |   |   |   |   |
|                        |       |                                                                                                                                                                                                                                      |       |                                                                        |       |   |   |   |   |
|                        | ** ** | **Cash Collection and Administration**                                                                                                                                                                                                    |       |                                                                        |       |   |   |   |   |
|                        |       |                                                                                                                                                                                                                                      |       |                                                                        |       |   |   |   |   |
| 1122(d)(2)(i)               |       | Payments on  pool assets are deposited into the appropriate custodial bank accounts and  related bank clearing accounts no more than two business days of receipt, or  such other number of days specified in the transaction agreements. | ** ** | **x**                                                                       | ** ** | **x** |   |   |   |
| 1122(d)(2)(ii)              |       | Disbursements  made via wire transfer on behalf of an obligor or to an investor are made  only by authorized personnel.                                                                                                                   |       |                                                                        |       |   | ** ** | **x** |   |
| 1122(d)(2)(iii)             |       | Advances of  funds or guarantees regarding collections, cash flows or distributions, and  any interest or other fees charged for such advances, are made, reviewed and  approved as specified in the transaction agreements.              |       |                                                                        |       |   | ** ** | **x** |   |
| 1122(d)(2)(iv)              |       | The related  accounts for the transaction, such as cash reserve accounts or accounts  established as a form of overcollateralization, are                                                                                                 | ** ** | **x**                                                                       |       |   |   |   |   |

 

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| **SERVICING CRITERIA** | ** ** | **APPLICABLE  SERVICING   CRITERIA**                                                                                                                                                                                                                                                                                                                                                                | ** ** | **INAPPLICABLE  SERVICING  CRITERIA**                                       | ** ** |
|-----------------------------|------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------|-----------------------------------------------------------------------------|------------|
| ** **                  | ** ** | ** **                                                                                                                                                                                                                                                                                                                                                                                               | ** ** | ** **                                                                  | ** ** | **Performed  by** | ** ** | ** ** | ** ** |
| ** **                  | ** ** | **Performed  Directly  by  New **                                                                                                                                                                                                                                                                                                                                                                   | ** ** | **Vendor(s)  for which  New   Holland  is the  Responsible** | ** ** | **NOT performed  by New  Holland or by  subservicer(s) or  vendor(s)   retained by** | ** ** |
| **Reference**               | ** ** | **Criteria**                                                                                                                                                                                                                                                                                                                                                                                             | ** ** | **Holland**                                                                 | ** ** | **Party** | ** ** | **New Holland** | ** ** |
|                        |       | separately  maintained (e.g., with respect to commingling of cash) as set forth in the  transaction agreements.                                                                                                                                                                                                                                                                                          |       |                                                                        |       |   | ** ** | ** ** |   |
| 1122(d)(2)(v)               |       | Each  custodial account is maintained at a federally insured depository institution  as set forth in the transaction agreements. For purposes of this criterion,  “federally insured depository institution” with respect to a foreign  financial institution means a foreign financial institution that meets the  requirements of Rule 13k-1(b)(1) of the Securities Exchange Act. |       | **x**                                                                       |       |   | ** ** | ** ** |   |
| 1122(d)(2)(vi)              |       | Unissued  checks are safeguarded so as to prevent unauthorized access.                                                                                                                                                                                                                                                                                                                                   |       |                                                                        |       |   | ** ** | **x** |   |
| 1122(d)(2)(vii)             |       | Reconciliations  are prepared on a monthly basis for all asset-backed securities related bank  accounts, including custodial accounts and related bank clearing accounts.  These reconciliations are (A) mathematically accurate; (B) prepared  within 30 calendar days after the bank statement cutoff date, or such other  number of days specified in                                       | ** ** | **x**                                                                       |       |   |   |   |   |

 

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| **SERVICING CRITERIA** | ** ** | **APPLICABLE  SERVICING   CRITERIA**                                                                                                                                                                                                                                                                                                                                                                                                                           | ** ** | **INAPPLICABLE  SERVICING  CRITERIA**                                 | ** ** |
|-----------------------------|------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------|-----------------------------------------------------------------------|------------|
| ** **                  | ** ** | ** **                                                                                                                                                                                                                                                                                                                                                                                                                                                          | ** ** | ** **                                                            | ** ** | **Performed  by** | ** ** | ** ** | ** ** |
| ** **                  | ** ** | **Performed  Directly  by  New **                                                                                                                                                                                                                                                                                                                                                                                                                              | ** ** | **Vendor(s)  for which  New  Holland  is the  Responsible** | ** ** | **NOT performed  by New  Holland or by  subservicer(s) or  vendor(s)   retained by** | ** ** |
| **Reference**               | ** ** | **Criteria**                                                                                                                                                                                                                                                                                                                                                                                                                                                        | ** ** | **Holland**                                                           | ** ** | **Party** | ** ** | **New Holland** | ** ** |
|                        |       | the  transaction agreements; (C) reviewed and approved by someone other than  the person who prepared the reconciliation; and (D) contain explanations  for reconciling items. These reconciling items are resolved within 90  calendar days of their original identification, or such other number of days  specified in the transaction agreements.                                                                                                     |       |                                                                  |       |   |   |   |   |
|                        |       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                |       |                                                                  |       |   |   |   |   |
|                        | ** ** | **Investor Remittances and Reporting**                                                                                                                                                                                                                                                                                                                                                                                                                              |       |                                                                  |       |   |   |   |   |
|                        |       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                |       |                                                                  |       |   |   |   |   |
| 1122(d)(3)(i)               |       | Reports to  investors, including those to be filed with the Commission, are maintained in  accordance with the transaction agreements and applicable Commission  requirements. Specifically, such reports (A) are prepared in accordance  with timeframes and other terms set forth in the transaction agreements;  (B) provide information calculated in accordance with the terms specified  in the transaction agreements; (C) are filed with the | ** ** | **x**                                                                 |       |   |   |   |   |

 

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| **SERVICING CRITERIA** | ** ** | **APPLICABLE  SERVICING   CRITERIA**                                                                                                                                                                                       | ** ** | **INAPPLICABLE  SERVICING  CRITERIA**                                       | ** ** |
|-----------------------------|------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------|-----------------------------------------------------------------------------|------------|
| ** **                  | ** ** | ** **                                                                                                                                                                                                                      | ** ** | ** **                                                                  | ** ** | **Performed  by** | ** ** | ** ** | ** ** |
| ** **                  | ** ** | **Performed  Directly  by  New **                                                                                                                                                                                          | ** ** | **Vendor(s)  for which  New   Holland  is the  Responsible** | ** ** | **NOT performed  by New  Holland or by  subservicer(s) or  vendor(s)   retained by** | ** ** |
| **Reference**               | ** ** | **Criteria**                                                                                                                                                                                                                    | ** ** | **Holland**                                                                 | ** ** | **Party** | ** ** | **New Holland** | ** ** |
|                        |       | Commission  as required by its rules and regulations; and (D) agree  with investors’ or the trustee’s records as to the total unpaid principal  balance and number of pool assets serviced by the Servicer. | ** ** | ** **                                                                  |       |   |   |   |   |
| 1122(d)(3)(ii)              |       | Amounts due  to investors are allocated and remitted in accordance with timeframes,  distribution priority and other terms set forth in the transaction agreements.                                                             | ** ** | **x**                                                                       |       |   |   |   |   |
| 1122(d)(3)(iii)             |       | Disbursements  made to an investor are posted within two business days to the servicer’s investor records, or such other number of days  specified in the transaction agreements.                                          | ** ** | **x**                                                                       |       |   |   |   |   |
| 1122(d)(3)(iv)              |       | Amounts  remitted to investors per the investor reports agree with cancelled checks,  or other form of payment, or custodial bank statements.                                                                                   | ** ** | **x**                                                                       |       |   |   |   |   |
|                        |       |                                                                                                                                                                                                                            |       |                                                                        |       |   |   |   |   |
|                        | ** ** | **Pool Asset Administration**                                                                                                                                                                                                   |       |                                                                        |       |   |   |   |   |
|                        |       |                                                                                                                                                                                                                            |       |                                                                        |       |   |   |   |   |
| 1122(d)(4)(i)               |       | Collateral  or security on pool assets is maintained as required by the transaction  agreements or related pool                                                                                                                 | ** ** | **x**                                                                       | ** ** | **x** |   |   |   |

 

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| **SERVICING CRITERIA** | ** ** | **APPLICABLE  SERVICING   CRITERIA**                                                                                                                                                                                                                                                                                                                                                                                          | ** ** | **INAPPLICABLE  SERVICING  CRITERIA**                                       | ** ** |
|-----------------------------|------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------|-----------------------------------------------------------------------------|------------|
| ** **                  | ** ** | ** **                                                                                                                                                                                                                                                                                                                                                                                                                         | ** ** | ** **                                                                  | ** ** | **Performed  by** | ** ** | ** ** | ** ** |
| ** **                  | ** ** | **Performed  Directly  by  New**                                                                                                                                                                                                                                                                                                                                                                                                   | ** ** | **Vendor(s)  for which  New   Holland  is the  Responsible** | ** ** | **NOT performed  by New  Holland or by  subservicer(s) or  vendor(s)   retained by** | ** ** |
| **Reference**               | ** ** | **Criteria**                                                                                                                                                                                                                                                                                                                                                                                                                       | ** ** | **Holland**                                                                 | ** ** | **Party** | ** ** | **New Holland** | ** ** |
|                        |       | asset  documents.                                                                                                                                                                                                                                                                                                                                                                                                                  | ** ** | ** **                                                                  | ** ** | ** ** |   |   |   |
| 1122(d)(4)(ii)              |       | Pool assets  and related documents are safeguarded as required by the transaction  agreements.                                                                                                                                                                                                                                                                                                                                     | ** ** | **x**                                                                       |       |   |   |   |   |
| 1122(d)(4)(iii)             |       | Any  additions, removals or substitutions to the asset pool are made, reviewed and  approved in accordance with any conditions or requirements in the transaction  agreements.                                                                                                                                                                                                                                                     | ** ** | **x**                                                                       |       |   |   |   |   |
| 1122(d)(4)(iv)              |       | Payments on  pool assets, including any payoffs, made in accordance with the related pool  asset documents are posted to the applicable servicer’s  obligor records maintained no more than two business days after receipt, or  such other number of days specified in the transaction agreements, and  allocated to principal, interest or other items (e.g., escrow) in accordance  with the related pool asset documents. | ** ** | **x**                                                                       |       |   |   |   |   |
| 1122(d)(4)(v)               |       | The servicer’s records regarding the pool assets agree with  the servicer’s records with respect to an obligor’s  unpaid principal balance.                                                                                                                                                                                                                                                                         | ** ** | **x**                                                                       |       |   |   |   |   |
| 1122(d)(4)(vi)              |       | Changes with  respect to the                                                                                                                                                                                                                                                                                                                                                                                                       | ** ** | **x**                                                                       |       |   |   |   |   |

 

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| **SERVICING CRITERIA** | ** ** | **APPLICABLE  SERVICING   CRITERIA**                                                                                                                                                                                                                                                                                                                                            | ** ** | **INAPPLICABLE  SERVICING  CRITERIA**                                       | ** ** |
|-----------------------------|------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------|-----------------------------------------------------------------------------|------------|
| ** **                  | ** ** | ** **                                                                                                                                                                                                                                                                                                                                                                           | ** ** | ** **                                                                  | ** ** | **Performed  by** | ** ** | ** ** | ** ** |
| ** **                  | ** ** | **Performed  Directly  by  New**                                                                                                                                                                                                                                                                                                                                                     | ** ** | **Vendor(s)  for which  New   Holland  is the  Responsible** | ** ** | **NOT performed  by New  Holland or by  subservicer(s) or  vendor(s)   retained by** | ** ** |
| **Reference**               | ** ** | **Criteria**                                                                                                                                                                                                                                                                                                                                                                         | ** ** | **Holland**                                                                 | ** ** | **Party** | ** ** | **New Holland** | ** ** |
|                        |       | terms or  status of an obligor’s pool asset (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized  personnel in accordance with the transaction agreements and related pool  asset documents.                                                                                                                                                   | ** ** | ** **                                                                  |       |   |   |   |   |
| 1122(d)(4)(vii)             |       | Loss  mitigation or recovery actions (e.g., forbearance plans, modifications and  deeds in lieu of foreclosure, foreclosures and repossessions, as applicable)  are initiated, conducted and concluded in accordance with the timeframes or  other requirements established by the transaction agreements.                                                                           | ** ** | **x**                                                                       |       |   |   |   |   |
| 1122(d)(4)(viii)            |       | Records  documenting collection efforts are maintained during the period a pool asset  is delinquent in accordance with the transaction agreements. Such records are  maintained on at least a monthly basis, or such other period specified in the  transaction agreements, and describe the entity’s activities in monitoring  delinquent pool assets including, for example, | ** ** | **x**                                                                       |       |   |   |   |   |

 

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| **SERVICING CRITERIA** | ** ** | **APPLICABLE  SERVICING   CRITERIA**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | ** ** | **INAPPLICABLE  SERVICING  CRITERIA**                                       | ** ** |
|-----------------------------|------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------|-----------------------------------------------------------------------------|------------|
| ** **                  | ** ** | ** **                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | ** ** | ** **                                                                  | ** ** | **Performed  by** | ** ** | ** ** | ** ** |
| ** **                  | ** ** | **Performed  Directly  by  New**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | ** ** | **Vendor(s)  for which  New   Holland  is the  Responsible** | ** ** | **NOT performed  by New  Holland or by  subservicer(s) or  vendor(s)   retained by** | ** ** |
| **Reference**               | ** ** | **Criteria**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | ** ** | **Holland**                                                                 | ** ** | **Party** | ** ** | **New Holland** | ** ** |
|                        |       | phone  calls, letters and payment rescheduling plans in cases where delinquency is  deemed temporary (e.g., illness or unemployment).                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | ** ** | ** **                                                                  |       |   |   |   |   |
| 1122(d)(4)(ix)              |       | Adjustments  to interest rates or rates of return for pool assets with variable rates are  computed based on the related pool asset documents.                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | ** ** | **x**                                                                       |       |   |   |   |   |
| 1122(d)(4)(x)               |       | Regarding  any funds held in trust for an obligor (such as escrow accounts):  (A) such funds are analyzed, in accordance with the obligor’s pool asset  documents, on at least an annual basis, or such other period specified in the  transaction agreements; (B) interest on such funds is paid, or credited,  to obligors in accordance with applicable pool asset documents and state  laws; and (C) such funds are returned to the obligor within 30 calendar  days of full repayment of the related pool asset, or such other number of  days specified in the transaction agreements. |       |                                                                        |       |   | ** ** | **x** |   |
| 1122(d)(4)(xi)              |       | Payments  made on behalf of an obligor (such as tax or                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |       |                                                                        |       |   | ** ** | **x** |   |

 

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| **SERVICING CRITERIA** | ** ** | **APPLICABLE  SERVICING   CRITERIA**                                                                                                                                                                                                                                                                                                      | ** ** | **INAPPLICABLE  SERVICING  CRITERIA**                                       | ** ** |
|-----------------------------|------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------|-----------------------------------------------------------------------------|------------|
| ** **                  | ** ** | ** **                                                                                                                                                                                                                                                                                                                                     | ** ** | ** **                                                                  | ** ** | **Performed  by** | ** ** | ** ** | ** ** |
| ** **                  | ** ** | **Performed  Directly  by  New**                                                                                                                                                                                                                                                                                                               | ** ** | **Vendor(s)  for which  New   Holland  is the  Responsible** | ** ** | **NOT performed  by New  Holland or by  subservicer(s) or  vendor(s)   retained by** | ** ** |
| **Reference**               | ** ** | **Criteria**                                                                                                                                                                                                                                                                                                                                   | ** ** | **Holland**                                                                 | ** ** | **Party** | ** ** | **New Holland** | ** ** |
|                        |       | insurance  payments) are made on or before the related penalty or expiration dates, as  indicated on the appropriate bills or notices for such payments, provided  that such support has been received by the servicer  at least 30 calendar days prior to these dates, or such other number of days  specified in the transaction agreements. |       |                                                                        |       |   | ** ** | ** ** |   |
| 1122(d)(4)(xii)             |       | Any late  payment penalties in connection with any payment to be made on behalf of an  obligor are paid from the servicer’s funds and not  charged to the obligor, unless the late payment was due to the obligor’s  error or omission.                                                                                              |       |                                                                        |       |   | ** ** | **x** |   |
| 1122(d)(4)(xiii)            |       | Disbursements  made on behalf of an obligor are posted within two business days to the  obligor’s records maintained by the servicer, or  such other number of days specified in the transaction agreements.                                                                                                                              |       |                                                                        |       |   | ** ** | **x** |   |
| 1122(d)(4)(xiv)             |       | Delinquencies,  charge-offs and uncollectible accounts are recognized and recorded in  accordance with the transaction agreements.                                                                                                                                                                                                             | ** ** | **x**                                                                       |       |   |   |   |   |

 

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| **SERVICING CRITERIA** | ** ** | **APPLICABLE  SERVICING   CRITERIA**                                                                                                                                                  | ** ** | **INAPPLICABLE  SERVICING  CRITERIA**                                       | ** ** |
|-----------------------------|------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------|-----------------------------------------------------------------------------|------------|
| ** **                  | ** ** | ** **                                                                                                                                                                                 | ** ** | ** **                                                                  | ** ** | **Performed  by** | ** ** | ** ** | ** ** |
| ** **                  | ** ** | **Performed  Directly  by  New**                                                                                                                                                           | ** ** | **Vendor(s)  for which  New   Holland  is the  Responsible** | ** ** | **NOT performed  by New  Holland or by  subservicer(s) or  vendor(s)   retained by** | ** ** |
| **Reference**               | ** ** | **Criteria**                                                                                                                                                                               | ** ** | **Holland**                                                                 | ** ** | **Party** | ** ** | **New Holland** | ** ** |
| 1122(d)(4)(xv)              |       | Any external  enhancement or other support, identified in Item 1114(a)(1) through  (3) or Item 1115 of Regulation AB, is maintained as set forth in the  transaction agreements. | ** ** | **x**                                                                       |       |   |   |   |   |

 

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APPENDIX B

 

Material Instances of Noncompliance:

 

New HollandCredit Company, LLC (the “Company”) has identified the following instance ofmaterial noncompliance with the applicable servicing criteria during theReporting Period:

 

Regulation ABItem 1122(d)(2)(vii): Certain custodial account and related bank clearingaccount reconciliations were not being prepared within thirty calendar daysafter the bank statement cutoff date and contained reconciling items that hadnot been resolved within ninety days of their original identification.Temporary internal delays in the availability of certain information caused certainreconciliations to be completed beyond the 30 day timeframe.  The Company believes the issue has beenresolved.   The items not cleared in 90days resulted from the volume of transactions processed through theaccounts.  The Company has ongoing initiativesdesigned to increase the certainty that account reconciliations are preparedwithin 30 calendar days after the bank statement cutoff date and thatreconciling items are cleared within 90 days of original identification.

 

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