Document:

Exhibit
4.10

	
  (Bilateral Form)

  	
  (ISDA
  Agreements Subject to New York Law Only)

  
	
   

  	
   

  

International Swaps and Derivatives
Association, Inc.

CREDIT SUPPORT ANNEX

to the Schedule to the

1992 ISDA Master Agreement

dated as of March 1, 2007

between

	
  CREDIT SUISSE INTERNATIONAL

  	
  and

  	
  CNH EQUIPMENT TRUST 2007-A

  
	
  (“Party
  A”)

  	
  (“Party
  B”)

  

 

This Annex supplements,
forms part of, and is subject to, the above-referenced Agreement, is part of
its Schedule and is a Credit Support Document under this Agreement with respect
to each party.

Accordingly,
the parties agree as follows:—

Paragraph 1. Interpretation

(a)       Definitions
and Inconsistency. Capitalized
terms not otherwise defined herein or elsewhere in this Agreement have the
meanings specified pursuant to Paragraph 12, and all references in this Annex
to Paragraphs are to Paragraphs of this Annex. In the event of any
inconsistency between this Annex and the other provisions of this Schedule,
this Annex will prevail, and in the event of any inconsistency between
Paragraph 13 and the other provisions of this Annex, Paragraph 13 will prevail.

(b)      Secured
Party and Pledgor. All
references in this Annex to the “Secured Party” will be to either party when
acting in that capacity and all corresponding references to the “Pledgor” will
be to the other party when acting in that capacity; provided, however, that if Other Posted Support is held by a
party to this Annex, all references herein to that party as the Secured Party
with respect to that Other Posted Support will be to that party as the
beneficiary thereof and will not subject that support or that party as the
beneficiary thereof to provisions of law generally relating to security
interests and secured parties.

Paragraph 2.  Security
Interest

Each
party, as the Pledgor, hereby pledges to the other party, as the Secured Party,
as security for its Obligations, and grants to the Secured Party a first
priority continuing security interest in, lien on and right of Set-off against
all Posted Collateral Transferred to or received by the Secured Party
hereunder. Upon the Transfer by the Secured Party to the Pledgor of Posted
Collateral, the security interest and lien granted hereunder on that Posted
Collateral will be released immediately and, to the extent possible, without
any further action by either party.

Paragraph
3.  Credit Support Obligations

(a)       Delivery Amount.  Subject to Paragraphs 4 and 5, upon a
demand made by the Secured Party on, or promptly following a Valuation Date, if
the Delivery Amount for that Valuation Date equals or exceeds the Pledgor’s
Minimum Transfer Amount, then the Pledgor will Transfer to the Secured Party
Eligible Credit Support having a Value as of the date of Transfer at least
equal to the applicable Delivery Amount (rounded pursuant to Paragraph 13).
Unless otherwise specified in Paragraph 13, the “Delivery Amount”  applicable to the Pledgor for any
Valuation Date will equal the amount by which:

(i) the Credit Support
Amount

exceeds

(ii) the Value as of that
Valuation Date of all Posted Credit Support held by the Secured Party.

(b)      Return Amount.  Subject to Paragraphs 4 and 5, upon a
demand made by the Pledgor on or promptly following a Valuation Date, if the
Return Amount for that Valuation Date equals or exceeds the Secured Party’s Minimum
Transfer Amount, then the Secured Party will Transfer to the Pledgor Posted
Credit Support specified by the Pledgor in that demand having a Value as of the
date of Transfer as close as practicable to the applicable Return Amount
(rounded pursuant to Paragraph 13). Unless otherwise specified in Paragraph 13,
the “Return Amount”  applicable to the Secured Party for any
Valuation Date will equal the amount by which:

(i) the Value as of that
Valuation Date of all Posted Credit Support held by the Secured Party

exceeds

(ii) the Credit Support
Amount.

“Credit Support Amount”  means, unless otherwise specified in
Paragraph 13, for any Valuation Date (i) the Secured Party’s Exposure for that
Valuation Date plus (ii) the aggregate of all Independent Amounts applicable to
the Pledgor, if any, minus (ii) all Independent Amounts applicable to the
Secured Party, if any, minus (iv) the Pledgor’s Threshold; provided, however, that the Credit Support
Amount will be deemed to be zero whenever the calculation of Credit Support
Amount yields a number less than zero.

Paragraph
4.  Conditions Precedent, Transfer
Timing, Calculations and Substitutions

(a)       Conditions Precedent. Each Transfer obligation of the Pledgor
under Paragraphs 3 and 5 and of the Secured Party under Paragraphs 3, 4(d)(ii),
5 and 6(d) is subject to the conditions precedent that:

(i) no Event of Default,
Potential Event of Default or Specified Condition has occurred and is
continuing with respect to the other party; and

(ii) no Early Termination
Date for which any unsatisfied payment obligations exist has occurred or been
designated as the result of an Event of Default or Specified Condition with
respect to the other party.

(b)      Transfer Timing. Subject to Paragraphs 4(a) and 5 and
unless otherwise specified, if a demand for the Transfer of Eligible Credit
Support or Posted Credit Support is made by the Notification Time, then the
relevant Transfer will be made not later than the close of business on the next
Local Business Day; if a demand is made after the Notification Time, then the
relevant Transfer will be made not later than the close of business on the
second Local Business Day thereafter.

(c)       Calculations. All calculations of Value and Exposure
for purposes of Paragraphs 3 and 6(d) will be made by the Valuation Agent as of
the Valuation Time. The Valuation Agent will notify each party (or the other
party, if the Valuation Agent is a party) of its calculations not later than
the Notification Time on the Local Business Day following the applicable
Valuation Date (or in the case of Paragraph 6(d), following the date of
calculation).

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(d)      Substitutions.

(i) Unless otherwise specified in Paragraph 13, upon notice to the
Secured Party specifying the items of Posted Credit Support to be exchanged,
the Pledgor may, on any Local Business Day, Transfer to the Secured Party
substitute Eligible Credit Support (the “Substitute Credit Support”); and

(ii) subject to Paragraph 4(a), the Secured Party will Transfer to the
Pledgor the items of Posted Credit Support specified by the Pledgor in its
notice not later than the Local Business Day following the date on which the
Secured Party receives the Substitute Credit Support, unless otherwise
specified in Paragraph 13 (the “Substitution Date”); provided that the Secured Party will only be obligated to
Transfer Posted Credit Support with a Value as of the date of Transfer of that
Posted Credit Support equal to the Value as of that date of the Substitute
Credit Support.

Paragraph 5.  Dispute Resolution

If a party (a “Disputing Party”) disputes (I) the Valuation Agent’s
calculation of a Delivery Amount or a Return Amount or (II) the Value of any
Transfer of Eligible Credit Support or Posted Credit Support, then (1) the
Disputing Party will notify the other party and the Valuation Agent (if the
Valuation Agent is not the other party) not later than the close of business on
the Local Business Day following (X) the date that the demand is made under
Paragraph 3 in the case of (I) above or (Y) the date of Transfer in the case of
(II) above, (2) subject to Paragraph 4(a), the appropriate party will Transfer
the undisputed amount to the other party not later than the close of business
on the Local Business Day following (X) the date that the demand is made under
Paragraph 3 in the case of (I) above or (Y) the date of Transfer in the case of
(II) above, (3) the parties will consult with each other in an attempt to
resolve the dispute and (4) if they fail to resolve the dispute by the
Resolution Time, then:

(i) In the case of a dispute involving a Delivery Amount or Return
Amount, unless otherwise specified in Paragraph 13, the Valuation Agent will
recalculate the Exposure and the Value as of the Recalculation Date by:

(A) utilizing any calculations of Exposure for the Transactions (or Swap
Transactions) that the parties have agreed are not in dispute;

(B) calculating the Exposure for the Transactions (or Swap Transactions)
in dispute by seeking four actual quotations at mid-market from Reference
Market-makers for purposes of calculating Market Quotation, and taking the
arithmetic average of those obtained; provided
that if four quotations are not available for a particular
Transaction (or Swap Transaction), then fewer than four quotations may be used
for that Transaction (or Swap Transaction); and if no quotations are available
for a particular Transaction (or Swap Transaction), then the Valuation Agent’s
original calculations will be used for that Transaction (or Swap Transaction);
and

(C) utilizing the procedures specified in Paragraph 13 for calculating
the Value, if disputed, of Posted Credit Support.

(ii) In the case of a dispute involving the
Value of any Transfer of Eligible Credit Support or Posted Credit Support, the
Valuation Agent will recalculate the Value as of the date of Transfer pursuant
to Paragraph 13.

Following a recalculation
pursuant to this Paragraph, the Valuation Agent will notify each party (or the
other party, if the Valuation Agent is a party) not later than the Notification
Time on the Local Business Day following the Resolution Time. The appropriate
party will, upon demand following that notice by the Valuation Agent or a
resolution pursuant to (3) above and subject to Paragraphs 4(a) and 4(b), make
the appropriate Transfer.

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Paragraph 6.  Holding and Using Posted Collateral

(a)       Care of Posted Collateral.  Without limiting the Secured Party’s
rights under Paragraph 6(c), the Secured Party will exercise reasonable care to
assure the safe custody of all Posted Collateral to the extent required by
applicable law, and in any event the Secured Party will be deemed to have
exercised reasonable care if it exercises at least the same degree of care as
it would exercise with respect to its own property. Except as specified in the
preceding sentence, the Secured Party will have no duty with respect to Posted
Collateral, including, without limitation, any duty to collect any
Distributions, or enforce or preserve any rights pertaining thereto.

(b)      Eligibility to Hold Posted Collateral; Custodians.

(i)  General.  Subject to the satisfaction of any
conditions specified in Paragraph 13 for holding Posted Collateral, the Secured
Party will be entitled to hold Posted Collateral or to appoint an agent (a “Custodian”)
to hold Posted Collateral for the Secured Party. Upon notice by the Secured Party
to the Pledgor of the appointment of a Custodian, the Pledgor’s obligations to
make any Transfer will be discharged by making the Transfer to that Custodian.
The holding of Posted Collateral by a Custodian will be deemed to be the
holding of that Posted Collateral by the Secured Party for which the Custodian
is acting.

(ii)  Failure to Satisfy
Conditions.  If
the Secured Party or its Custodian fails to satisfy any conditions for holding
Posted Collateral, then upon a demand made by the Pledgor, the Secured Party
will, not later than five Local Business Days after the demand, Transfer or
cause its Custodian to Transfer all Posted Collateral held by it to a Custodian
that satisfies those conditions or to the Secured Party if it satisfies those
conditions.

(iii)  Liability.  The Secured Party will be liable for the
acts or omissions of its Custodian to the same extent that the Secured Party
would be liable hereunder for its own acts or omissions.

(c)       Use of Posted Collateral. Unless
otherwise specified in Paragraph 13 and without limiting the rights and
obligations of the parties under Paragraphs 3, 4(d)(ii), 5, 6(d) and 8, if the
Secured Party is not a Defaulting Party or an Affected Party with respect to a
Specified Condition and no Early Termination Date has occurred or been
designated as the result of an Event of Default or Specified Condition with
respect to the Secured Party, then the Secured Party will, notwithstanding
Section 9-207 of the New York Uniform Commercial Code, have the right to:

(i) sell, pledge,
rehypothecate, assign, invest, use, commingle or otherwise dispose of, or
otherwise use in its business any Posted Collateral it holds, free from any
claim or right of any nature whatsoever of the Pledgor, including any equity or
right of redemption by the Pledgor; and

(ii) register any Posted Collateral in the name of the
Secured Party, its Custodian or a nominee for either.

For purposes of the
obligation to Transfer Eligible Credit Support or Posted Credit Support
pursuant to Paragraphs 3 and 5 and any rights or remedies authorized under this
Agreement, the Secured Party will be deemed to continue to hold all Posted
Collateral and to receive Distributions made thereon, regardless of whether the
Secured Party has exercised any rights with respect to any Posted Collateral
pursuant to (i) or (ii) above.

(d)      Distributions and Interest Amount.

(i)  Distributions.  Subject to Paragraph 4(a), if the Secured
Party receives or is deemed to receive Distributions on a Local Business Day,
it will Transfer to the Pledgor not later than the following Local Business Day
any Distributions it receives or is deemed to receive to the extent that a
Delivery Amount would not be created or increased by that Transfer, as
calculated by the Valuation Agent (and the date of calculation will be deemed
to be a Valuation Date for this purpose).

 4
 

(ii) Interest Amount.  Unless
otherwise specified in Paragraph 13 and subject to Paragraph 4(a), in lieu of
any interest, dividends or other amounts paid or deemed to have been paid with
respect to Posted Collateral in the form of Cash (all of which may be retained
by the Secured Party), the Secured Party will Transfer to the Pledgor at the
times specified in Paragraph 13 the Interest Amount to the extent that a
Delivery Amount would not be created or increased by that Transfer, as
calculated by the Valuation Agent (and the date of calculation will be deemed
to be a Valuation Date for this purpose). The Interest Amount or portion
thereof not Transferred pursuant to this Paragraph will constitute Posted
Collateral in the form of Cash and will be subject to the security interest
granted under Paragraph 2.

Paragraph 7.  Events of Default

For purposes of Section
5(a)(iii)(l) of this Agreement, an Event of Default will exist with respect to
a party if:

(i) that party fails (or
fails to cause its Custodian) to make, when due, any Transfer of Eligible
Collateral, Posted Collateral or the Interest Amount, as applicable, required
to be made by it and that failure continues for two Local Business Days after notice
of that failure is given to that party;

(ii) that party fails to
comply with any restriction or prohibition specified in this Annex with respect
to any of the rights specified in Paragraph 6(c) and that failure continues for
five Local Business Days after notice of that failure is given to that party;
or

(iii) that party fails to
comply with or perform any agreement or obligation other than those specified
in Paragraphs 7(i) and 7(ii) and that failure continues for 30 days after
notice of that failure is given to that party.

Paragraph 8.  Certain Rights and Remedies

(a)       Secured Party’s Rights and Remedies.  If at any time (1) an Event of Default or
Specified Condition with respect to the Pledgor has occurred and is continuing
or (2) an Early Termination Date has occurred or been designated as the result
of an Event of Default or Specified Condition with respect to the Pledgor,
then, unless the Pledgor has paid in full all of its Obligations that are then
due, the Secured Party may exercise one or more of the following rights and
remedies:

(i) all rights and
remedies available to a secured party under applicable law with respect to
Posted Collateral held by the Secured Party;

(ii) any other rights and
remedies available to the Secured Party under the terms of Other Posted
Support, if any;

(iii) the right to
Set-off any amounts payable by the Pledgor with respect to any Obligations
against any Posted Collateral or the Cash equivalent of any Posted Collateral
held by the Secured Party (or any obligation of the Secured Party to Transfer
that Posted Collateral); and

(iv) the right to
liquidate any Posted Collateral held by the Secured Party through one or more
public or private sales or other dispositions with such notice, if any, as may
be required under applicable law, free from any claim or right of any nature
whatsoever of the Pledgor, including any equity or right of redemption by the
Pledgor (with the Secured Party having the right to purchase any or all of the
Posted Collateral to be sold) and to apply the proceeds (or the Cash equivalent
thereof) from the liquidation of the Posted Collateral to any amounts payable
by the Pledgor with respect to any Obligations in that order as the Secured
Party may elect.

Each party acknowledges
and agrees that Posted Collateral in the form of securities may decline
speedily in value and is of a type customarily sold on a recognized market,
and, accordingly, the Pledgor is not entitled to prior notice of any sale of
that Posted Collateral by the Secured Party, except any notice that is required
under applicable law and cannot be waived.

 5
 

(b)      Pledgor’s Rights and Remedies.  If at any time an Early Termination Date
has occurred or been designated as the result of an Event of Default or
Specified Condition with respect to the Secured Party, then (except in the case
of an Early Termination Date relating to less than all Transactions (or Swap
Transactions) where the Secured Party has paid in full all of its obligations
that are then due under Section 6(e) of this Agreement):

(i) the Pledgor may
exercise all rights and remedies available to a pledgor under applicable law
with respect to Posted Collateral held by the Secured Party;

(ii) the Pledgor may
exercise any other rights and remedies available to the Pledgor under the terms
of Other Posted Support, if any;

(iii) the Secured Party
will be obligated immediately to Transfer all Posted Collateral and the
Interest Amount to the Pledgor; and

(iv) to the extent that
Posted Collateral or the Interest Amount is not so Transferred pursuant to
(iii) above, the Pledgor may:

(A) Set-off any amounts
payable by the Pledgor with respect to any Obligations against any Posted
Collateral or the Cash equivalent of any Posted Collateral held by the Secured
Party (or any obligation of the Secured Party to Transfer that Posted
Collateral); and

(B) to the extent that
the Pledgor does not Set-off under (iv)(A) above, withhold payment of any
remaining amounts payable by the Pledgor with respect to any Obligations, up to
the Value of any remaining Posted Collateral held by the Secured Party, until
that Posted Collateral is Transferred to the Pledgor.

(c)       Deficiencies and Excess Proceeds. The
Secured Party will Transfer to the Pledgor any proceeds and Posted Credit
Support remaining after liquidation, Set-off and/or application under
Paragraphs 8(a) and 8(b) after satisfaction in full of all amounts payable by
the Pledgor with respect to any Obligations; the Pledgor in all events will
remain liable for any amounts remaining unpaid after any liquidation, Set-off
and/or application under Paragraphs 8(a) and 8(b).

(d)      Final Returns.  When no amounts are or thereafter may
become payable by the Pledgor with respect to any Obligations (except for any
potential liability under Section 2(d) of this Agreement), the Secured Party
will Transfer to the Pledgor all Posted Credit Support and the Interest Amount,
if any.

Paragraph 9.  Representations

Each party represents to
the other party (which representations will be deemed to be repeated as of each
date on which it, as the Pledgor, Transfers Eligible Collateral) that:

(i)  it has the
power to grant a security interest in and lien on any Eligible Collateral it
Transfers as the Pledgor and has taken all necessary actions to authorize the
granting of that security interest and lien;

(ii)  it is the
sole owner of or otherwise has the right to Transfer all Eligible Collateral it
Transfers to the Secured Party hereunder, free and clear of any security
interest, lien, encumbrance or other restrictions other than the security
interest and lien granted under Paragraph 2;

(iii)  upon the
Transfer of any Eligible Collateral to the Secured Party under the terms of
this Annex, the Secured Party will have a valid and perfected first priority
security interest therein (assuming that any central clearing corporation or
any third-party financial intermediary or other entity not within the control
of the Pledgor involved in the Transfer of that Eligible Collateral gives the
notices and takes the action required of it under applicable law for perfection
of that interest); and

(iv)  the
performance by it of its obligations under this Annex will not result in the
creation of any security interest, lien or other encumbrance on any Posted
Collateral other than the security interest and lien granted under Paragraph 2.

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Paragraph 10.  Expenses

(a)       General. Except as otherwise provided in Paragraphs
10(b) and 10(c), each party will pay its own costs and expenses in connection
with performing its obligations under this Annex and neither party will be
liable for any costs and expenses incurred by the other party in connection
herewith.

(b)      Posted
Credit Support. The
Pledgor will promptly pay when due all taxes, assessments or charges of any
nature that are imposed with respect to Posted Credit Support held by the
Secured Party upon becoming aware of the same, regardless of whether any
portion of that Posted Credit Support is subsequently disposed of under
Paragraph 6(c), except for those taxes, assessments and charges that result
from the exercise of the Secured Party’s rights under Paragraph 6(c).

(c)       Liquidation/Application
of Posted Credit Support. All
reasonable costs and expenses incurred by or on behalf of the Secured Party or
the Pledgor in connection with the liquidation and/or application of any Posted
Credit Support under Paragraph 8 will be payable, on demand and pursuant to  the Expenses Section of this Agreement,
by the Defaulting Party or, if there is no Defaulting Party, equally by the
parties.

Paragraph
11.  Miscellaneous

(a)       Default
Interest. A Secured Party
that fails to make, when due, any Transfer of Posted Collateral or the Interest
Amount will be obligated to pay the Pledgor (to the extent permitted under
applicable law) an amount equal to interest at the Default Rate multiplied by
the Value of the items of property that were required to be Transferred, from
(and including) the date that Posted Collateral or Interest Amount was required
to be Transferred to (but excluding) the date of Transfer of that Posted
Collateral or Interest Amount. This interest will be calculated on the basis of
daily compounding and the actual number of days elapsed.

(b)      Further
Assurances. Promptly following
a demand made by a party, the other party will execute, deliver, file and
record any financing statement, specific assignment or other document and take
any other action that may be necessary or desirable and reasonably requested by
that party to create, preserve, perfect or validate any security interest or
lien granted under Paragraph 2, to enable that party to exercise or enforce its
rights under this Annex with respect to Posted Credit Support or an Interest
Amount or to effect or document a release of a security interest on Posted
Collateral or an Interest Amount.

(c)       Further
Protection. The Pledgor will
promptly give notice to the Secured Party of, and defend against, any suit,
action, proceeding or lien that involves Posted Credit Support Transferred by
the Pledgor or that could adversely affect the security interest and lien
granted by it under Paragraph 2, unless that suit, action, proceeding or lien
results from the exercise of the Secured Party’s rights under Paragraph 6(c).

(d)      Good Faith
and Commercially Reasonable Manner. Performance
of all obligations under this Annex, including, but not limited to, all
calculations, valuations and determinations made by either party, will be made
in good faith and in a commercially reasonable manner.

(e)       Demands and
Notices.
All demands and notices made
by a party under this Annex will be made as specified in the Notices Section of
this Agreement, except as otherwise provided in Paragraph 13.

(f)       Specifications
of Certain Matters. Anything
referred to in this Annex as being specified in Paragraph 13 also may be
specified in one or more Confirmations or other documents and this Annex will
be construed accordingly.

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Paragraph 12. Definitions

As used in this Annex:—

“Cash”  means the lawful currency of the United States
of America.

“Credit Support Amount”  has the meaning specified in Paragraph 3.

“Custodian”  has the meaning specified in Paragraphs
6(b)(i) and 13.

“Delivery Amount” has the meaning specified in Paragraph 3(a).

“Disputing Party” has the meaning specified in Paragraph 5.

“Distributions”  means with respect to Posted Collateral other
than Cash, all principal, interest and other payments and distributions of cash
or other property with respect thereto, regardless of whether the Secured Party
has disposed of that Posted Collateral under Paragraph 6(c). Distributions will
not include any item of property acquired by the Secured Party upon any
disposition or liquidation of Posted Collateral or, with respect to any Posted
Collateral in the form of Cash, any distributions on that collateral, unless
otherwise specified herein.

“Eligible Collateral”  means, with respect to a party, the items, if
any, specified as such for that party in Paragraph 13.

“Eligible Credit Support”  means Eligible Collateral and Other Eligible
Support.

“Exposure”  means for any Valuation Date or other date for
which Exposure is calculated and subject to Paragraph 5 in the case of a
dispute, the amount, if any, that would be payable to a party that is the
Secured Party by the other party (expressed as a positive number) or by a party
that is the Secured Party to the other party (expressed as a negative number)
pursuant to Section 6(e)(ii)(2)(A) of this Agreement as if all Transactions (or
Swap Transactions) were being terminated as of the relevant Valuation Time; provided that Market Quotation will be
determined by the Valuation Agent using its estimates at mid-market of the
amounts that would be paid for Replacement Transactions (as that term is
defined in the definition of “Market Quotation”).

“Independent Amount”  means, with respect to a party, the amount
specified as such for that party in Paragraph 13; if no amount is specified,
zero.

“Interest Amount”  means, with respect to an Interest Period, the
aggregate sum of the amounts of interest calculated for each day in that
Interest Period on the principal amount of Posted Collateral in the form of
Cash held by the Secured Party on that day, determined by the Secured Party for
each such day as follows:

(x)
the amount of that Cash on that day; multiplied by

(y)
the Interest Rate in effect for that day; divided by

(z)
360.

“Interest Period”  means the period from (and including) the last
Local Business Day on which an Interest Amount was Transferred (or, if no
Interest Amount has yet been Transferred, the Local Business Day on which
Posted Collateral in the form of Cash was Transferred to or received by the Secured
Party) to (but excluding) the Local Business Day on which the current Interest
Amount is to be Transferred.

“Interest Rate”  means the rate specified in Paragraph 13.

“Local Business Day”,  unless
otherwise specified in Paragraph 13, has the meaning specified in the
Definitions Section of this Agreement, except that references to a payment in
clause (b) thereof will be deemed to include a Transfer under this Annex.

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“Minimum Transfer Amount”  means, with respect to a party, the amount
specified as such for that party in Paragraph 13; if no amount is specified,
zero.

“Notification Time”  has
the meaning specified in Paragraph 13.

“Obligations”  means, with respect to a party, all present
and future obligations of that party under this Agreement and any additional
obligations specified for that party in Paragraph 13.

“Other Eligible Support”  means, with respect to a party, the items, if
any, specified as such for that party in Paragraph 13.

“Other Posted Support”  means all Other Eligible Support Transferred
to the Secured Party that remains in effect for the benefit of that Secured
Party.

“Pledgor”  means either party, when that party (i)
receives a demand for or is required to Transfer Eligible Credit Support under
Paragraph 3(a) or (ii) has Transferred Eligible Credit Support under Paragraph
3(a).

“Posted Collateral”  means all Eligible Collateral, other property,
Distributions, and all proceeds thereof that have been Transferred to or
received by the Secured Party under this Annex and not Transferred to the Pledgor
pursuant to Paragraph 3(b), 4(d)(ii) or 6(d)(i) or released by the Secured
Party under Paragraph 8. Any Interest Amount or portion thereof not Transferred
pursuant to Paragraph 6(d)(ii) will constitute Posted Collateral in the form of
Cash.

“Posted Credit Support”  means Posted Collateral and Other Posted
Support.

“Recalculation Date”  means the Valuation Date that gives rise to
the dispute under Paragraph 5; provided,
however, that if a subsequent Valuation Date occurs under Paragraph
3 prior to the resolution of the dispute, then the “Recalculation Date” means
the most recent Valuation Date under Paragraph 3.

“Resolution Time”  has the meaning specified in Paragraph 13.

“Return Amount”  has the meaning specified in Paragraph 3(b).

“Secured Party”  means either party, when that party (i) makes
a demand for or is entitled to receive Eligible Credit Support under Paragraph
3(a) or (ii) holds or is deemed to hold Posted Credit Support.

“Specified Condition”  means, with respect to a party, any event
specified as such for that party in Paragraph 13.

“Substitute Credit Support”  has the meaning specified in Paragraph
4(d)(i).

“Substitution Date”  has the meaning specified in Paragraph
4(d)(ii).

“Threshold”  means, with respect to a party, the amount
specified as such for that party in Paragraph 13; if no amount is specified,
zero.

“Transfer”  means, with respect to any Eligible Credit
Support, Posted Credit Support or Interest Amount, and in accordance with the
instructions of the Secured Party, Pledgor or Custodian, as applicable:

(i)
in the case of Cash, payment or delivery by wire transfer into one or more bank
accounts specified by the recipient;

(ii)
in the case of certificated securities that cannot be paid or delivered by
book-entry, payment or delivery in appropriate physical form to the recipient
or its account accompanied by any duly executed instruments of transfer,
assignments in blank, transfer tax stamps and any other documents necessary to
constitute a legally valid transfer to the recipient;

(iii)
in the case of securities that can be paid or delivered by book-entry, the
giving of written instructions to the relevant depository institution or other
entity specified by the recipient, together with a written copy thereof to the
recipient, sufficient if complied with to result in a legally effective
transfer of the relevant interest to the recipient; and

(iv)
in the case of Other Eligible Support or Other Posted Support, as specified in
Paragraph 13.

 9
 

“Valuation Agent”
has the meaning specified in Paragraph 13.

“Valuation Date”
means each date specified in or otherwise determined pursuant to
Paragraph 13. 

“Valuation
Percentage”  means,
for any item of Eligible Collateral, the percentage specified in Paragraph 13.

“Valuation Time” has
the meaning specified in Paragraph 13.

“Value”
means for any Valuation Date or other date for which Value is
calculated and subject to Paragraph 5 in the case of a dispute, with respect
to:

(i)        Eligible
Collateral or Posted Collateral that is:

(A) Cash, the amount thereof; and

(B) a security, the bid price obtained by the Valuation Agent
multiplied by the applicable Valuation Percentage, if any;

(ii)       Posted Collateral
that consists of items that are not specified as Eligible Collateral, zero; and

(iii)      Other Eligible
Support and Other Posted Support, as specified in Paragraph 13.

 10

Elections
and Variables

to
the ISDA Credit Support Annex

dated
as of March 1, 2007

between

	
  CREDIT SUISSE INTERNATIONAL

  	
   

  	
  and

  	
   

  	
  CNH
  EQUIPMENT TRUST 2007-A

  
	
  (“Party
  A”)

  	
   

  	
   

  	
   

  	
  (“Party
  B”)

  

 

Paragraph 13.

(a)                     Security Interest for “Obligations”.

The term “Obligations”
as used in this Annex includes the following additional obligations:

With respect to Party A:       None.

With respect to Party B:       None.

(b)                    Credit Support Obligations.

(i)                       Delivery Amount, Return Amount and
Credit Support Amount.

(A)         “Delivery Amount”  has the meaning specified in Paragraph
3(a), except that the words “upon a demand made by the Secured Party” shall be
deleted and the word “that” on the second line of Paragraph 3(a) shall be
replaced with the word “a”.

(B)           Paragraph
4(b) is hereby amended by the insertion of the words “(i) in respect of a
Transfer pursuant to Paragraph 3(b),” immediately prior to the words “if a
demand for” and the insertion of the words “; and (ii) in respect of a Transfer
pursuant to Paragraph 3(a), the relevant Transfer will be made not later than
the close of business on the Local Business Day following the Valuation Date”
immediately prior to the period.

(C)           “Return Amount”  has the meaning specified in Paragraph
3(b).

(D)          “Credit Support Amount” for
a Valuation Date shall mean zero; provided that,
if the Threshold in respect of Party A is zero on such Valuation Date, “Credit Support Amount”  shall mean one of the following if one of
the following specified events have occurred on such Valuation Date:

(i)                       if
a Moody’s Collateralization Event has occurred and is continuing but (a) no
Moody’s Rating Event has occurred and is continuing or (b) less than 30 Local
Business Day have elapsed since the last time that no Moody’s Rating Event had
occurred and was continuing, “Credit Support Amount”
shall mean an amount in USD equal to the greater of (1) the sum of
(a) the Secured Party’s Exposure and (b) the First Trigger Collateral Amount
(as defined below) for each Transaction hereunder and (2) zero;

 11
 

(ii)                    so
long as a Moody’s Ratings Event has occurred and is continuing and 30 or more
Local Business Days have elapsed since the last time that no Moody’s Rating
Event had occurred and was continuing, “Credit Support Amount”  shall mean an amount in USD equal to the
greatest of (1) the sum of (a) the Secured Party’s Exposure and (b) the Second
Trigger Collateral Amount (as defined below) for each Transaction hereunder,
(2) an amount equal to the Floating Amount payable by Party A pursuant to each
Transaction hereunder in respect of the first Floating Rate Payer Payment Date
scheduled to occur on or after such Valuation Date and (3) zero; and

(iii)                 if an S&P Collateralization Event
or an S&P Ratings Event has occurred and is continuing, “Credit Support Amount”  shall mean an amount in USD equal to the
greater of (1) the sum of (a) the Secured Party’s Exposure and (b) the Notional
Volatility Buffer and (2) zero. “Notional Volatility Buffer”  as determined by the Valuation Agent for any date, means
the product of (i) the Notional Amount of the Transaction on such date, (ii)
the Payment Factor, and (iii) the Volatility Buffer Percentage for such date as
set out in the table below on such date,

	
  Party A S&P 

  Rating on 

  such date

  	
   

  	
  Remaining

  Weighted

  Average

  Life

  Maturity up

  to 3 years

  	
   

  	
  Remaining

  Weighted

  Average Life

  Maturity up

  to 5 years

  	
   

  	
  Remaining

  Weighted

  Average

  Life

  Maturity

  up to 10

  years

  	
   

  	
  Remaining

  Weighted

  Average

  Life

  Maturity

  up to 30

  years

  	
   

  
	
  S&P S-T
  Rating of “A-l” or above

  	
   

  	
  0.00

  	
  %

  	
  0.00

  	
  %

  	
  0.00

  	
  %

  	
  0.00

  	
  %

  
	
  S&P S-T
  Rating of “A-2”

  	
   

  	
  2.75

  	
  %

  	
  3.25

  	
  %

  	
  4.0

  	
  %

  	
  4.75

  	
  %

  
	
  S&P S-T
  Rating of “A-3”

  	
   

  	
  3.25

  	
  %

  	
  4.00

  	
  %

  	
  5.0

  	
  %

  	
  6.25

  	
  %

  
	
  S&P L-T Rating of
  “BB+” or lower

  	
   

  	
  3.50

  	
  %

  	
  4.50

  	
  %

  	
  6.75

  	
  %

  	
  7.50

  	
  %

  

 

L-T Rating means
with respect to any Person, the unsecured, unguaranteed and otherwise
unsupported long-term senior debt obligations of such Person.

S-T Rating means
with respect to any Person, the unsecured, unguaranteed and otherwise
unsupported short-term debt obligations of such Person.

Payment Factor means
1.

(iv)                if
a Fitch Collateralization Event or a Fitch Ratings Event has occurred and is
continuing, “Credit
Support Amount”  shall mean an amount in USD equal to the
Secured Party’s Exposure.

 12
 

In circumstances where more than one of Paragraph
13(b)(i)(C)(i), (ii), (iii) and (iv) apply, the Credit Support Amount shall be
calculated by reference to the paragraph which would result in Party A
Transferring the greatest amount of Eligible Credit Support. Under no
circumstances will Party A be required to Transfer more Eligible Credit Support
than the greatest amount calculated in accordance with one of Paragraph
l3(b)(i)(C)(i), (ii), (iii) or (iv).

First Trigger Collateral Amount means,
in respect of each Transaction hereunder on any date, an amount in USD equal to
the Notional Amount of such Transaction on such date multiplied by the
Applicable Percentage set forth in the table in Exhibit A hereto.

Second Trigger Collateral Amount
means, in respect of each Transaction hereunder on any date,
an amount in USD equal to the Notional Amount of such Transaction on such date
multiplied by the Applicable Percentage set forth in the applicable table in
Exhibit B hereto.

(ii)                    Eligible Collateral.  On any date, the following items will
qualify as “Eligible
Collateral”  for Party
A:

(A)                  Valuation
Percentage S&P

	
  (i)

  	
   

  	
  Cash

  	
   

  	
  100

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (ii)

  	
   

  	
  Negotiable debt obligations issued after 18 July
  1984 by the U.S. Treasury Department having a residual maturity on such date
  of less than 1 year

  	
   

  	
  98.0

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (iii)

  	
   

  	
  Coupon-bearing negotiable debt obligations issued
  after 18 July 1984 by the U.S. Treasury Department having a residual maturity
  on such date equal to or greater than 1 year but less than 5 years

  	
   

  	
  93.8

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (iv)

  	
   

  	
  Coupon-bearing negotiable debt obligations issued
  after 18 July 1984 by the U.S. Treasury Department having a residual maturity
  on such date equal to or greater than 5 years but less than 10 years

  	
   

  	
  90.3

  	
  %

  

 

(B)                  Valuation
Percentage Moody’s

	
  INTRUMENT

  	
   

  	
  Daily

  	
   

  	
  Weekly

  	
   

  
	
  U.S. Dollar Cash

  	
   

  	
  100

  	
  %

  	
  100

  	
  %

  
	
  Fixed-Rate
  Negotiable treasury Debt Issued by the U.S. Treasury Department with
  Remaining Maturity

  	
   

  
	
     <1 Year

  	
   

  	
  100

  	
  %

  	
  100

  	
  %

  
	
  1 to 2 years

  	
   

  	
  100

  	
  %

  	
  99

  	
  %

  
	
  2 to 3 years

  	
   

  	
  100

  	
  %

  	
  98

  	
  %

  
	
  3 to 5 years

  	
   

  	
  100

  	
  %

  	
  97

  	
  %

  
	
  5 to 7 years

  	
   

  	
  100

  	
  %

  	
  95

  	
  %

  
	
  7 to 10 years

  	
   

  	
  100

  	
  %

  	
  94

  	
  %

  
	
  Floating-Rate
  Negotiable treasury Debt Issued by the U.S. Treasury Department

  	
   

  
	
  All Maturities

  	
   

  	
  100

  	
  %

  	
  99

  	
  %

  

 

 13
 

(C)                  Valuation
Percentage Fitch

	
  INTRUMENT

  	
   

  	
  Daily

  	
   

  	
  Weekly

  	
   

  
	
  U.S. Dollar Cash

  	
   

  	
  100

  	
  %

  	
  100

  	
  %

  
	
  Fixed-Rate
  Negotiable treasury Debt Issued by the U.S. Treasury Department with
  Remaining Maturity

  	
   

  
	
  <1 Year

  	
   

  	
  100

  	
  %

  	
  100

  	
  %

  
	
  1 to 2 years

  	
   

  	
  100

  	
  %

  	
  99

  	
  %

  
	
  2 to 3 years

  	
   

  	
  100

  	
  %

  	
  98

  	
  %

  
	
  3 to 5 years

  	
   

  	
  100

  	
  %

  	
  97

  	
  %

  
	
  5 to 7 years

  	
   

  	
  100

  	
  %

  	
  95

  	
  %

  
	
  7 to l0 years

  	
   

  	
  100

  	
  %

  	
  94

  	
  %

  
	
  Floating-Rate
  Negotiable treasury Debt Issued by the U.S. Treasury Department

  	
   

  
	
  All Maturities

  	
   

  	
  100

  	
  %

  	
  99

  	
  %

  

 

In circumstances where all of Paragraphs 13(b)(ii)(A),
(B) and (C) apply, the Valuation Percentage for an item of Eligible Collateral
shall be calculated by reference to the paragraph which would result in the
lower Valuation Percentage for such item of Eligible Collateral.

(iii)                 Other Eligible Support.  None.

(iv)                Thresholds.

(A)                 “Independent Amount”  means with respect to Party A: Not
applicable.

“Independent Amount”  means with respect to Party B: Not
applicable.

(B)                   “Threshold”  means:

With respect to Party A: infinity, provided that if an S&P Ratings Event
or a Collateralization Event has occurred and is continuing, the Threshold with
respect to Party A shall be zero, unless with respect to a Collateralization
Event, (i) Party A has remedied such Collateralization Event in accordance with
the terms of, and within the relevant timeframe specified in, the Agreement by
means other than posting collateral pursuant to this Annex and a Ratings Event
has not occurred and is continuing or (ii)(a) neither a S&P
Collateralization Event nor a Fitch Collateralization Event has occurred and is
continuing and (b) (1) if a Moody’s Collateralization Event has occurred and is
continuing, less than 30 Local Business Days have elapsed since the last time
no Moody’s Collateralization Event has occurred and was continuing and (2) no
Moody’s Collateralization Event had occurred when this Annex was executed, in
which case the Threshold with respect to Party A shall remain infinity; and

With respect to Party B: infinity.

(C)                   “Minimum Transfer Amount”  means USD 100,000 with respect to Party A
and Party B; provided, however, that if the aggregate Note Principal Balance of
Notes rated by S&P ceases to be more than USD 50,000,000, the “Minimum Transfer Amount”  shall be USD 50,000.

(D)                  Rounding.  The Delivery Amount will be rounded up to
the nearest integral multiple of USD 10,000. The Return Amount will be rounded
down to the nearest integral multiple of USD 1,000.

 14
 

(c)                     Valuation and Timing.

(i)                       “Valuation Agent”  means Party A. Calculations by Party A
will be made by reference to commonly accepted market sources.

(ii)                    “Valuation Date”  means,

(A)                 in
the event that a Collateralization Event other an S&P Collateralization
Event has occurred and is continuing, each Local Business Day which, if treated
as a Valuation Date, would result in a Delivery Amount or a Return Amount; and

(B)                   in
the event that only an S&P Collateralization Event has occurred and is
continuing, or a Ratings Event has occurred and is continuing, the last Local
Business Day of each calendar week.

(iii)                 “Valuation Time”  means the close of business in the city of the Valuation
Agent on the Local Business Day before the Valuation Date or date of
calculation, as applicable, provided that
the calculations of Value and Exposure will be made as of approximately the
same time on the same date.

(iv)                “Notification Time”  means 4:00 p.m., London time, on a Local
Business Day.

(d)                    Conditions Precedent and Secured
Party’s Rights and Remedies.

No events shall constitute a “Specified Condition.”

(e)                     Substitution.

(i)                       “Substitution Date” has
the meaning specified in Paragraph 4(d)(ii).

(ii)                    Consent.  The Pledgor must obtain the Secured Party’s
prior consent to any substitution pursuant to Paragraph 4(d) and shall give to
the Secured Party not less than two (2) Local Business Days’ notice thereof
specifying the items of Posted Credit Support intended for substitution.

(f)                       Dispute Resolution.

(i)                       “Resolution Time”  means 4:00 p.m. London time on the Local
Business Day following the date on which the notice of the dispute is given
under Paragraph 5.

(ii)                    Value.  For the purpose of Paragraphs 5(i)(C) and
5(ii), on any date, the Value of Eligible Collateral and Posted Collateral will
be calculated as follows:

(A)                 with
respect to any Cash; the amount thereof; and

(B)                   with
respect to any Eligible Collateral comprising securities; the sum of (a)(x) the
last bid price on such date for such securities on the principal national
securities exchange on which such securities are listed, multiplied by the
applicable Valuation Percentage or (y) where any such securities are not listed
on a national securities exchange, the bid price for such securities quoted as
at the close of business on such date by any principal market maker for such
securities chosen by the Valuation Agent, multiplied by the applicable
Valuation Percentage or (z) if no such bid price is listed or quoted for such
date, the last bid price listed or quoted (as the case may be), as of the day
next preceding such date on which such prices were available; multiplied by the
applicable Valuation Percentage; plus

 15
 

(b) the accrued interest on such securities (except to
the extent that such interest shall have been paid to the Pledgor pursuant to
Paragraph 6(d)(ii) or included in the applicable price referred to in
subparagraph (a) above) as of such date.

(iii)                 Alternative.
The provisions of Paragraph 5 will apply provided the obligation of
the appropriate party to deliver the undisputed amount to the other party will
not arise prior to the time that would otherwise have applied to the Transfer
pursuant to, or deemed made, under Paragraph 3 if no dispute had arisen.

(g)                    Holding and Using Posted Collateral.

(i)                       Eligibility
to Hold Posted Collateral; Custodians. Party B and its Custodian will be
entitled to hold Posted Collateral, as applicable, pursuant to Paragraph 6(b);
provided that the following conditions applicable to each party are satisfied:

(A)                 Party
B, as the Secured Party, is not a Defaulting Party.

(B)                   Party
B hereby covenants and agrees that it will, subject to Paragraph 13(n)(xi),
cause all Posted Collateral received from the other party to be entered in an
Eligible Deposit Account (as such term is defined in Appendix A to the
Indenture).

(C)                   the
Custodian (if not the Indenture Trustee) is an institution having assets of at
least $10 billion and a rating of at least A-l from S&P, which account
shall bear a title indicating the Secured Party’s interest in said account and
the Posted Collateral in such account.

Initially, the Custodian for Party B is: The Bank of
New York Trust Company, N. A.

(ii)                    Use of Posted Collateral.  The provisions of Paragraph 6(c) will not
apply to Party B. Therefore, Party B will not have any of the rights specified
in Paragraph 6(c)(i) or 6(c)(ii).

(iii)                 Changing of Collateral Accounts. The Secured Party or its Custodian, as
the case may be, may move such Eligible Deposit Account referred to in
Paragraph 13(g)(i)(B) from one Custodian to another upon reasonable notice to
the Pledgor. The Secured Party or its Custodian shall cause notices or
statements concerning the Posted Collateral transferred or delivered by the
Pledgor to be sent to the Pledgor on request, which may not be made more
frequently than once in each calendar month.

(h)                    Distributions and Interest Amount.

(i)                       Interest Rate.  The “Interest Rate”  will be the annualized rate of return actually achieved on
Posted Collateral in the form of Cash during the relevant Interest Period.

(ii)                    Transfer of Interest Amount.  The Transfer of the Interest Amount will
be made on any Local Business Day on which Posted Collateral in the form of
Cash is Transferred to the Pledgor pursuant to Paragraph 3(b), provided that
such Interest Amount has been received prior thereto.

(iii)                 Alternative to Interest Amount.  The provisions of Paragraph 6(d)(ii) will
apply.

(i)                        Additional Representation(s).

There are no additional representations by either
party.

 16
 

(j)                        Demands and Notices.

All demands, specifications and notices under this
Annex will be made pursuant to the Notices Section of this Agreement, save that
any demand, specification or notice:

(i) shall be given to or made at the following
addresses:

If to Party A:

	
  Address:
  One Cabot Square

  
	
   

  	
  London E14 4QJ

  
	
   

  	
  England

  
	
   

  
	
  Telephone:

  	
  44 20 7888 3083

  
	
  Facsimile:

  	
  44 20 7883 7987

  
	
  Attention:

  	
  Collateral Management Unit

  

 

If to Party B:

As set forth in Part 4(a) of the Schedule;

or at such other address as the relevant party may
from time to time designate by giving notice (in accordance with the terms of
this paragraph) to the other party;

(ii)                    shall
(unless otherwise stated in this Annex) be deemed to be effective at the time
such notice is actually received unless such notice is received on a day which
is not a Local Business Day or after the Notification Time on any Local
Business Day in which event such notice shall be deemed to be effective on the
next succeeding Local Business Day.

(k)                     Address for Transfers.

Party A: To be notified to Party B by Party A at the
time of the request for the Transfer.

Party B: To be notified to Party A by Party B at the
time of the request for the Transfer.

(1)                     Other Provisions.

(i)                       Additional Definitions

As used in this Annex:

“Equivalent Collateral”  means, with respect to any security
constituting Posted Collateral, a security of the same issuer and, as
applicable, representing or having the same class, series, maturity, interest
rate, principal amount or liquidation value and such other provisions as are
necessary for that security and the security constituting Posted Collateral to
be treated as equivalent in the market for such securities;

“Local Business Day”  means: (i) any day on which commercial
banks are open for business (including dealings in foreign exchange and foreign
currency deposits) in London, and (ii) in relation to a Transfer of Eligible
Collateral, a day on which the clearance system agreed between the parties for
the delivery of Eligible Collateral is open for acceptance and execution of
settlement

 17
 

instructions (or in the case of a Transfer of Cash or
other Eligible Collateral for which delivery is contemplated by other means, a
day on which commercial banks are open for business (including dealings for foreign
exchange and foreign currency deposits) in New York and such other places as
the parties shall agree); and

“transaction-specific hedges”  has the meaning given to such term in “Framework
for De-linking Hedge Counterparty Risks from Global Structured Finance Cashflow
Transactions Moody’s Methodology” published by Moody’s Investors Service and
dated May 25, 2006.

(ii)                    Events of Default

Paragraph 7 shall be deleted and replaced in its
entirety by the following paragraph:

“For the purposes of Section 5(a)(iii)(l) of this
Agreement, an Event of Default will exist with respect to a party if that party
fails (or fails to cause its Custodian) to make, when due, any Transfer of
Posted Credit Support or the Interest Amount, as applicable, required to be
made by it and that failure continues for two Local Business Days after the
notice of that failure is given to that party, except that (A) if such failure
would constitute an Additional Termination Event under another provision of
this Agreement and (B) no more than 30 Local Business Days have elapsed since
the last time that no Moody’s Rating Event has occurred and was continuing,
then such failure shall be an Additional Termination Event and not an Event of
Default”.

(iii)                 Return of Fungible Securities

In lieu of returning to the Pledgor pursuant to
Paragraphs 3(b), 4(d), 5 and 8(d) any Posted Collateral comprising securities
the Secured Party may return Equivalent Collateral.

(iv)                Covenants of the Pledgor

So long as the Agreement is in effect, the Pledgor
covenants that it will keep the Posted Collateral free from all security
interests or other encumbrances created by the Pledgor, except the security
interest created hereunder and any security interests or other encumbrances
created by the Secured Party; and will not sell, transfer, assign, deliver or
otherwise dispose of, or grant any option with respect to any Posted Collateral
or any interest therein, or create, incur or permit to exist any pledge, lien,
mortgage, hypothecation, security interest, charge, option or any other
encumbrance with respect to any Posted Collateral or any interest therein,
without the prior written consent of the Secured Party.

(v)                   No Counterclaim

A party’s rights to demand and receive the Transfer of
Eligible Collateral as provided hereunder and its rights as Secured Party
against the Posted Collateral or otherwise shall be absolute and subject to no
counterclaim, set-off, deduction or defense in favor of the Pledgor except as
contemplated in Sections 2 and 6 of the Agreement and Paragraph 8 of this
Annex.

(vi)                Holding Collateral

The Secured Party shall cause any Custodian appointed
hereunder to open and maintain a segregated account and to hold, record and
identify all the Posted Collateral in such segregated account and, subject to
Paragraph 8(a), such Posted Collateral shall at all times be and remain the
property of the Pledgor and shall at no time constitute the property of, or be
commingled with the property of, the Secured Party or the Custodian.

 18
 

(vii)             Security and Performance

Eligible Collateral Transferred to the Secured Party
constitutes security and performance assurance without which the Secured Party
would not otherwise enter into and continue any and all Transactions.

(viii)          Agreement as to Single Secured Party and Pledgor

Party A and Party B agree that, notwithstanding
anything to the contrary in the recital to this Annex, Paragraph 1(b),
Paragraph 2 or the definitions in Paragraph 12, (a) the term “Secured Party” as used in this Annex
means only Party B, (b) the term “Pledgor” as
used in this Annex means only Party A, (c) only Party A makes the pledge and
grant in Paragraph 2, the acknowledgment in the final sentence of Paragraph
8(a) and the representations in Paragraph 9 and (d) only Party A will be
required to make Transfers of Eligible Credit Support hereunder.

(ix)                  External Verification of
Mark-to-Market Valuations.

On each Valuation Date occurring while an S&P
Collateralization Event is continuing, Party A shall provide to S&P not
later than the Notification Time on the Local Business Day following such
Valuation Date its calculations of Exposure and the S&P Value of any
Eligible Credit Support or Posted Credit Support for that Valuation Date. Every
month after the unsecured, unguaranteed and otherwise unsupported long-term
debt obligations of each Relevant Entity are rated below BBB+ by S&P,
unless otherwise agreed in writing with S&P, Party A will verify its
determination of Exposure of the Transaction and any Posted Credit Support on
the next Valuation Date by seeking quotations from two (2) Reference
Market-makers for their determination of Exposure of the Transaction on such
Valuation Date and the Valuation Agent will use the greater of either (a) its
own determination or (b) the highest quotation for a Reference Market-maker, if
applicable, for the next Valuation Date; provided,
that this Paragraph 13(l)(ix) shall only apply to the extent that
the Notes outstanding at such time are rated higher by S&P than the S&P
L-T Rating of Party A; and provided further,
that Party A shall not seek verification of its determination of
Exposure as described above from the same Reference Market-maker more than four
times in any twelve-month period. Party A shall provide to S&P copies of
such verification details.

(x)                     Expenses.

Notwithstanding Paragraph 10(a), the Pledgor will be
responsible for, and will reimburse the Secured Party for, all transfer costs
involved in the Transfer of Eligible Collateral from the Pledgor to the Secured
Party (or any agent or custodian for safekeeping of the Secured Party) or from
the Secured Party (or any agent or custodian for safekeeping of the Secured
Party) to the Pledgor pursuant to paragraph 4(d).

 19
 

 

	
  Agreed and accepted:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  CREDIT SUISSE INTERNATIONAL

  	
   

  	
  CNH EQUIPMENT TRUST 2007-A

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  Wilmington Trust Company,

  not in its individual capacity but

  solely as Trustee under the

  Trust Agreement

  

 

	
  By:

  	
  /s/ Marleen
  Nobile

  	
   

  	
  By:

  	
  /s/James A.
  Hanley

  	
   

  
	
  Name:

  	
  Marleen Nobile

  	
   

  	
  Name:

  	
  James A. Hanley

  	
   

  
	
  Title:

  	
  Authorized
  Signatory

  	
   

  	
  Title:

  	
  Assistant Vice President

  	
   

  
									

 

	
  By:

  	
  /s/ Kamel
  Ouchikh

  	
   

  	
   

  
	
  Name:

  	
  Kamel Ouchikh

  	
   

  	
   

  
	
  Title:

  	
  Authorized
  Signatory

  	
   

  	
   

  
						

 

 20

EXHIBIT
A

FIRST
TRIGGER COLLATERAL AMOUNT APPLICABLE PERCENTAGES

For Transactions that are swaps, caps, floors and transaction-specific
hedges:

	
  Weighted Average

  	
   

  	
  Interest Rate Hedges

  	
   

  	
  Currency Hedges

  	
   

  
	
  Life of Hedge in

  	
   

  	
  Valuation Dates:

  	
   

  
	
  Years

  	
   

  	
  Daily

  	
   

  	
  Weekly

  	
   

  	
  Daily

  	
   

  	
  Weekly

  	
   

  
	
  Less than 1 year

  	
   

  	
  0.15

  	
  %

  	
  0.25

  	
  %

  	
  1.10

  	
  %

  	
  2.20

  	
  %

  
	
  Equal to or greater
  than 1 year but less than 2 years

  	
   

  	
  0.30

  	
  %

  	
  0.50

  	
  %

  	
  1.20

  	
  %

  	
  2.40

  	
  %

  
	
  Equal to or greater
  than 2 years but less than 3 years

  	
   

  	
  0.40

  	
  %

  	
  0.70

  	
  %

  	
  1.30

  	
  %

  	
  2.60

  	
  %

  
	
  Equal to or greater
  than 3 years but less than 4 years

  	
   

  	
  0.60

  	
  %

  	
  1.00

  	
  %

  	
  1.40

  	
  %

  	
  2.80

  	
  %

  
	
  Equal to or greater
  than 4 years but less than 5 years

  	
   

  	
  0.70

  	
  %

  	
  1.20

  	
  %

  	
  1.50

  	
  %

  	
  2.90

  	
  %

  
	
  Equal to or greater
  than 5 years but less than 6 years

  	
   

  	
  0.80

  	
  %

  	
  1.40

  	
  %

  	
  1.60

  	
  %

  	
  3.10

  	
  %

  
	
  Equal to or greater than
  6 years but less than 7 years

  	
   

  	
  1.00

  	
  %

  	
  1.60

  	
  %

  	
  1.60

  	
  %

  	
  3.30

  	
  %

  
	
  Equal to or greater
  than 7 years but less than 8 years

  	
   

  	
  1.10

  	
  %

  	
  1.80

  	
  %

  	
  1.70

  	
  %

  	
  3.40

  	
  %

  
	
  Equal to or greater
  than 8 years but less than 9 years

  	
   

  	
  1.20

  	
  %

  	
  2.00

  	
  %

  	
  1.80

  	
  %

  	
  3.60

  	
  %

  
	
  Equal to or greater than
  9 years but less than 10 years

  	
   

  	
  1.30

  	
  %

  	
  2.20

  	
  %

  	
  1.90

  	
  %

  	
  3.80

  	
  %

  
	
  Equal to or greater
  than 10 years but less than 11 years

  	
   

  	
  1.40

  	
  %

  	
  2.30

  	
  %

  	
  1.90

  	
  %

  	
  3.90

  	
  %

  
	
  Equal to or greater
  than 11 years but less than 12 years

  	
   

  	
  1.50

  	
  %

  	
  2.50

  	
  %

  	
  2.00

  	
  %

  	
  4.00

  	
  %

  
	
  Equal to or greater
  than 12 years but less than 13 years

  	
   

  	
  1.60

  	
  %

  	
  2.70

  	
  %

  	
  2.10

  	
  %

  	
  4.10

  	
  %

  
	
  Equal to or greater than 13 years but less than 14 years

  	
   

  	
  1.70

  	
  %

  	
  2.80

  	
  %

  	
  2.10

  	
  %

  	
  4.30

  	
  %

  

 

 21
 

 

	
  Weighted Average

  	
   

  	
  Interest Rate Hedges

  	
   

  	
  Currency Hedges

  	
   

  
	
  Life of Hedge in

  	
   

  	
  Valuation Dates:

  	
   

  
	
  Years

  	
   

  	
  Daily

  	
   

  	
  Weekly

  	
   

  	
  Daily

  	
   

  	
  Weekly

  	
   

  
	
  Equal to or greater
  than 14 years but less than 15 years

  	
   

  	
  1.80

  	
  %

  	
  3.00

  	
  %

  	
  2.20

  	
  %

  	
  4.40

  	
  %

  
	
  Equal to or greater
  than 15 years but less than 16 years

  	
   

  	
  1.90

  	
  %

  	
  3.20

  	
  %

  	
  2.30

  	
  %

  	
  4.50

  	
  %

  
	
  Equal to or greater
  than 16 years but less than 17 years

  	
   

  	
  2.00

  	
  %

  	
  3.30

  	
  %

  	
  2.30

  	
  %

  	
  4.60

  	
  %

  
	
  Equal to or greater
  than 17 years but less than 18 years

  	
   

  	
  2.00

  	
  %

  	
  3.50

  	
  %

  	
  2.40

  	
  %

  	
  4.80

  	
  %

  
	
  Equal to or greater
  than 18 years but less than 19 years

  	
   

  	
  2.00

  	
  %

  	
  3.60

  	
  %

  	
  2.40

  	
  %

  	
  4.90

  	
  %

  
	
  Equal to or greater
  than 19 years but less than 20 years

  	
   

  	
  2.00

  	
  %

  	
  3.70

  	
  %

  	
  2.50

  	
  %

  	
  5.00

  	
  %

  
	
  Equal to or greater
  than 20 years but less than 21 years

  	
   

  	
  2.00

  	
  %

  	
  3.90

  	
  %

  	
  2.50

  	
  %

  	
  5.00

  	
  %

  
	
  Equal to or greater
  than 21 years but less than 22 years

  	
   

  	
  2.00

  	
  %

  	
  4.00

  	
  %

  	
  2.50

  	
  %

  	
  5.00

  	
  %

  
	
  Equal to or greater
  than 22 years but less than 23 years

  	
   

  	
  2.00

  	
  %

  	
  4.00

  	
  %

  	
  2.50

  	
  %

  	
  5.00

  	
  %

  
	
  Equal to or greater
  than 23 years but less than 24 years

  	
   

  	
  2.00

  	
  %

  	
  4.00

  	
  %

  	
  2.50

  	
  %

  	
  5.00

  	
  %

  
	
  Equal to or greater
  than 24 years but less than 25 years

  	
   

  	
  2.00

  	
  %

  	
  4.00

  	
  %

  	
  2.50

  	
  %

  	
  5.00

  	
  %

  
	
  Equal to or greater
  than 25 years but less than 26 years

  	
   

  	
  2.00

  	
  %

  	
  4.00

  	
  %

  	
  2.50

  	
  %

  	
  5.00

  	
  %

  
	
  Equal to or greater
  than 26 years but less than 27 years

  	
   

  	
  2.00

  	
  %

  	
  4.00

  	
  %

  	
  2.50

  	
  %

  	
  5.00

  	
  %

  
	
  Equal to or greater
  than 27 years but less than 28 years

  	
   

  	
  2.00

  	
  %

  	
  4.00

  	
  %

  	
  2.50

  	
  %

  	
  5.00

  	
  %

  
	
  Equal to or greater
  than 28 years but less than 29 years

  	
   

  	
  2.00

  	
  %

  	
  4.00

  	
  %

  	
  2.50

  	
  %

  	
  5.00

  	
  %

  
	
  Equal to or greater
  than 29 years but less than 30 years

  	
   

  	
  2.00

  	
  %

  	
  4.00

  	
  %

  	
  2.50

  	
  %

  	
  5.00

  	
  %

  
	
  Equal to 30 years

  	
   

  	
  2.00

  	
  %

  	
  4.00

  	
  %

  	
  2.50

  	
  %

  	
  5.00

  	
  %

  

 

 22
 

EXHIBIT
B

SECOND
TRIGGER COLLATERAL AMOUNT APPLICABLE PERCENTAGES

For Transactions that are swaps (excludes caps, floors and
transaction-specific hedges):

	
  Weighted Average

  	
   

  	
  Interest Rate Swaps

  	
   

  	
  Currency Swaps

  	
   

  
	
  Life of Hedge in

  	
   

  	
  Valuation Dates:

  	
   

  
	
  Years

  	
   

  	
  Daily

  	
   

  	
  Weekly

  	
   

  	
  Daily

  	
   

  	
  Weekly

  	
   

  
	
  Less than 1 year

  	
   

  	
  0.50

  	
  %

  	
  0.60

  	
  %

  	
  6.10

  	
  %

  	
  7.25

  	
  %

  
	
  Equal to or
  greater than 1 year but less than 2 years

  	
   

  	
  1.00

  	
  %

  	
  1.20

  	
  %

  	
  6.30

  	
  %

  	
  7.50

  	
  %

  
	
  Equal to or
  greater than 2 years but less than 3 years

  	
   

  	
  1.50

  	
  %

  	
  1.70

  	
  %

  	
  6.40

  	
  %

  	
  7.70

  	
  %

  
	
  Equal to or
  greater than 3 years but less than 4 years

  	
   

  	
  1.90

  	
  %

  	
  2.30

  	
  %

  	
  6.60

  	
  %

  	
  8.00

  	
  %

  
	
  Equal to or
  greater than 4 years but less than 5 years

  	
   

  	
  2.40

  	
  %

  	
  2.80

  	
  %

  	
  6.70

  	
  %

  	
  8.20

  	
  %

  
	
  Equal to or
  greater than 5 years but less than 6 years

  	
   

  	
  2.80

  	
  %

  	
  3.30

  	
  %

  	
  6.80

  	
  %

  	
  8.40

  	
  %

  
	
  Equal to or
  greater than 6 years but less than 7 years

  	
   

  	
  3.20

  	
  %

  	
  3.80

  	
  %

  	
  7.00

  	
  %

  	
  8.60

  	
  %

  
	
  Equal to or
  greater than 7 years but less than 8 years

  	
   

  	
  3.60

  	
  %

  	
  4.30

  	
  %

  	
  7.10

  	
  %

  	
  8.80

  	
  %

  
	
  Equal to or
  greater than 8 years but less than 9 years

  	
   

  	
  4.00

  	
  %

  	
  4.80

  	
  %

  	
  7.20

  	
  %

  	
  9.00

  	
  %

  
	
  Equal to or
  greater than 9 years but less than 10 years

  	
   

  	
  4.40

  	
  %

  	
  5.30

  	
  %

  	
  7.30

  	
  %

  	
  9.20

  	
  %

  
	
  Equal to or
  greater than 10 years but less than 11 years

  	
   

  	
  4.70

  	
  %

  	
  5.60

  	
  %

  	
  7.40

  	
  %

  	
  9.30

  	
  %

  
	
  Equal to or
  greater than 11 years but less than 12 years

  	
   

  	
  5.00

  	
  %

  	
  6.00

  	
  %

  	
  7.50

  	
  %

  	
  9.50

  	
  %

  
	
  Equal to or
  greater than 12 years but less than 13 years

  	
   

  	
  5.40

  	
  %

  	
  6.40

  	
  %

  	
  7.60

  	
  %

  	
  9.70

  	
  %

  
	
  Equal to or
  greater than 13 years but less than 14 years

  	
   

  	
  5.70

  	
  %

  	
  6.80

  	
  %

  	
  7.70

  	
  %

  	
  9.80

  	
  %

  
	
  Equal to or greater
  than 14 years but less than 15 years

  	
   

  	
  6.00

  	
  %

  	
  7.20

  	
  %

  	
  7.80

  	
  %

  	
  10.00

  	
  %

  

 

 23
 

 

	
  Weighted Average

  	
   

  	
  Interest Rate Swaps

  	
   

  	
  Currency Swaps

  	
   

  
	
  Life of Hedge in

  	
   

  	
  Valuation Dates:

  	
   

  
	
  Years

  	
   

  	
  Daily

  	
   

  	
  Weekly

  	
   

  	
  Daily

  	
   

  	
  Weekly

  	
   

  
	
  Equal to or
  greater than 15 years but less than 16 years

  	
   

  	
  6.30

  	
  %

  	
  7.60

  	
  %

  	
  7.90

  	
  %

  	
  10.00

  	
  %

  
	
  Equal to or
  greater than 16 years but less than 17 years

  	
   

  	
  6.60

  	
  %

  	
  7.90

  	
  %

  	
  8.00

  	
  %

  	
  10.00

  	
  %

  
	
  Equal to or
  greater than 17 years but less than 18 years

  	
   

  	
  6.90

  	
  %

  	
  8.30

  	
  %

  	
  8.10

  	
  %

  	
  10.00

  	
  %

  
	
  Equal to or
  greater than 18 years but less than 19 years

  	
   

  	
  7.20

  	
  %

  	
  8.60

  	
  %

  	
  8.20

  	
  %

  	
  10.00

  	
  %

  
	
  Equal to or
  greater than 19 years but less than 20 years

  	
   

  	
  7.50

  	
  %

  	
  9.00

  	
  %

  	
  8.20

  	
  %

  	
  10.00

  	
  %

  
	
  Equal to or
  greater than 20 years but less than 21 years

  	
   

  	
  7.80

  	
  %

  	
  9.00

  	
  %

  	
  8.30

  	
  %

  	
  10.00

  	
  %

  
	
  Equal to or
  greater than 21 years but less than 22 years

  	
   

  	
  8.00

  	
  %

  	
  9.00

  	
  %

  	
  8.40

  	
  %

  	
  10.00

  	
  %

  
	
  Equal to or
  greater than 22 years but less than 23 years

  	
   

  	
  8.00

  	
  %

  	
  9.00

  	
  %

  	
  8.50

  	
  %

  	
  10.00

  	
  %

  
	
  Equal to or
  greater than 23 years but less than 24 years

  	
   

  	
  8.00

  	
  %

  	
  9.00

  	
  %

  	
  8.60

  	
  %

  	
  10.00

  	
  %

  
	
  Equal to or
  greater than 24 years but less than 25 years

  	
   

  	
  8.00

  	
  %

  	
  9.00

  	
  %

  	
  8.60

  	
  %

  	
  10.00

  	
  %

  
	
  Equal to or
  greater than 25 years but less than 26 years

  	
   

  	
  8.00

  	
  %

  	
  9.00

  	
  %

  	
  8.70

  	
  %

  	
  10.00

  	
  %

  
	
  Equal to or
  greater than 26 years but less than 27 years

  	
   

  	
  8.00

  	
  %

  	
  9.00

  	
  %

  	
  8.80

  	
  %

  	
  10.00

  	
  %

  
	
  Equal to or
  greater than 27 years but less than 28 years

  	
   

  	
  8.00

  	
  %

  	
  9.00

  	
  %

  	
  8.80

  	
  %

  	
  10.00

  	
  %

  
	
  Equal to or
  greater than 28 years but less than 29 years

  	
   

  	
  8.00

  	
  %

  	
  9.00

  	
  %

  	
  8.90

  	
  %

  	
  10.00

  	
  %

  
	
  Equal to or
  greater than 29 years but less than 30 years

  	
   

  	
  8.00

  	
  %

  	
  9.00

  	
  %

  	
  8.90

  	
  %

  	
  10.00

  	
  %

  
	
  Equal to 30 years

  	
   

  	
  8.00

  	
  %

  	
  9.00

  	
  %

  	
  9.00

  	
  %

  	
  10.00

  	
  %

  

 

 24
 

For Transactions that are caps, floors, swaptions and
transaction-specific hedges:

	
  Weighted Average

  	
   

  	
  Interest Rate Hedges

  	
   

  	
  Currency Hedges

  	
   

  
	
  Life of Hedge in

  	
   

  	
  Valuation Dates:

  	
   

  
	
  Years

  	
   

  	
  Daily

  	
   

  	
  Weekly

  	
   

  	
  Daily

  	
   

  	
  Weekly

  	
   

  
	
  Less than 1 year

  	
   

  	
  0.65

  	
  %

  	
  0.75

  	
  %

  	
  6.30

  	
  %

  	
  7.40

  	
  %

  
	
  Equal to or
  greater than 1 year but less than 2 years

  	
   

  	
  1.30

  	
  %

  	
  1.50

  	
  %

  	
  6.60

  	
  %

  	
  7.80

  	
  %

  
	
  Equal to or
  greater than 2 years but less than 3 years

  	
   

  	
  1.90

  	
  %

  	
  2.20

  	
  %

  	
  6.90

  	
  %

  	
  8.20

  	
  %

  
	
  Equal to or
  greater than 3 years but less than 4 years

  	
   

  	
  2.50

  	
  %

  	
  2.90

  	
  %

  	
  7.10

  	
  %

  	
  8.50

  	
  %

  
	
  Equal to or
  greater than 4 years but less than 5 years

  	
   

  	
  3.10

  	
  %

  	
  3.60

  	
  %

  	
  7.40

  	
  %

  	
  8.90

  	
  %

  
	
  Equal to or
  greater than 5 years but less than 6 years

  	
   

  	
  3.60

  	
  %

  	
  4.20

  	
  %

  	
  7.70

  	
  %

  	
  9.20

  	
  %

  
	
  Equal to or
  greater than 6 years but less than 7 years

  	
   

  	
  4.20

  	
  %

  	
  4.80

  	
  %

  	
  7.90

  	
  %

  	
  9.60

  	
  %

  
	
  Equal to or
  greater than 7 years but less than 8 years

  	
   

  	
  4.70

  	
  %

  	
  5.40

  	
  %

  	
  8.20

  	
  %

  	
  9.90

  	
  %

  
	
  Equal to or
  greater than 8 years but less than 9 years

  	
   

  	
  5.20

  	
  %

  	
  6.00

  	
  %

  	
  8.40

  	
  %

  	
  10.20

  	
  %

  
	
  Equal to or
  greater than 9 years but less than 10 years

  	
   

  	
  5.70

  	
  %

  	
  6.60

  	
  %

  	
  8.60

  	
  %

  	
  10.50

  	
  %

  
	
  Equal to or
  greater than 10 years but less than 11 years

  	
   

  	
  6.10

  	
  %

  	
  7.00

  	
  %

  	
  8.80

  	
  %

  	
  10.70

  	
  %

  
	
  Equal to or
  greater than 11 years but less than 12 years

  	
   

  	
  6.50

  	
  %

  	
  7.50

  	
  %

  	
  9.00

  	
  %

  	
  11.00

  	
  %

  
	
  Equal to or
  greater than 12 years but less than 13 years

  	
   

  	
  7.00

  	
  %

  	
  8.00

  	
  %

  	
  9.20

  	
  %

  	
  11.30

  	
  %

  
	
  Equal to or
  greater than 13 years but less than 14 years

  	
   

  	
  7.40

  	
  %

  	
  8.50

  	
  %

  	
  9.40

  	
  %

  	
  11.50

  	
  %

  
	
  Equal to or greater
  than 14 years but less than 15 years

  	
   

  	
  7.80

  	
  %

  	
  9.00

  	
  %

  	
  9.60

  	
  %

  	
  11.80

  	
  %

  

 

 25
 

 

	
  Weighted Average

  	
   

  	
  Interest Rate Hedges

  	
   

  	
  Currency Hedges

  	
   

  
	
  Life of Hedge in

  	
   

  	
  Valuation Dates:

  	
   

  
	
  Years

  	
   

  	
  Daily

  	
   

  	
  Weekly

  	
   

  	
  Daily

  	
   

  	
  Weekly

  	
   

  
	
  Equal to or
  greater than 15 years but less than 16 years

  	
   

  	
  8.20

  	
  %

  	
  9.50

  	
  %

  	
  9.80

  	
  %

  	
  11.80

  	
  %

  
	
  Equal to or
  greater than 16 years but less than 17 years

  	
   

  	
  8.60

  	
  %

  	
  9.90

  	
  %

  	
  10.00

  	
  %

  	
  12.00

  	
  %

  
	
  Equal to or
  greater than 17 years but less than 18 years

  	
   

  	
  9.00

  	
  %

  	
  10.40

  	
  %

  	
  10.10

  	
  %

  	
  12.00

  	
  %

  
	
  Equal to or
  greater than 18 years but less than 19 years

  	
   

  	
  9.40

  	
  %

  	
  10.80

  	
  %

  	
  10.30

  	
  %

  	
  12.00

  	
  %

  
	
  Equal to or
  greater than 19 years but less than 20 years

  	
   

  	
  9.70

  	
  %

  	
  11.00

  	
  %

  	
  10.50

  	
  %

  	
  12.00

  	
  %

  
	
  Equal to or
  greater than 20 years but less than 21 years

  	
   

  	
  10.00

  	
  %

  	
  11.00

  	
  %

  	
  10.70

  	
  %

  	
  12.00

  	
  %

  
	
  Equal to or
  greater than 21 years but less than 22 years

  	
   

  	
  10.00

  	
  %

  	
  11.00

  	
  %

  	
  10.80

  	
  %

  	
  12.00

  	
  %

  
	
  Equal to or
  greater than 22 years but less than 23 years

  	
   

  	
  10.00

  	
  %

  	
  11.00

  	
  %

  	
  11.00

  	
  %

  	
  12.00

  	
  %

  
	
  Equal to or
  greater than 23 years but less than 24 years

  	
   

  	
  10.00

  	
  %

  	
  11.00

  	
  %

  	
  11.00

  	
  %

  	
  12.00

  	
  %

  
	
  Equal to or
  greater than 24 years but less than 25 years

  	
   

  	
  10.00

  	
  %

  	
  11.00

  	
  %

  	
  11.00

  	
  %

  	
  12.00

  	
  %

  
	
  Equal to or
  greater than 25 years but less than 26 years

  	
   

  	
  10.00

  	
  %

  	
  11.00

  	
  %

  	
  11.00

  	
  %

  	
  12.00

  	
  %

  
	
  Equal to or
  greater than 26 years but less than 27 years

  	
   

  	
  10.00

  	
  %

  	
  11.00

  	
  %

  	
  11.00

  	
  %

  	
  12.00

  	
  %

  
	
  Equal to or
  greater than 27 years but less than 28 years

  	
   

  	
  10.00

  	
  %

  	
  11.00

  	
  %

  	
  11.00

  	
  %

  	
  12.00

  	
  %

  
	
  Equal to or
  greater than 28 years but less than 29 years

  	
   

  	
  10.00

  	
  %

  	
  11.00

  	
  %

  	
  11.00

  	
  %

  	
  12.00

  	
  %

  
	
  Equal to or
  greater than 29 years but less than 30 years

  	
   

  	
  10.00

  	
  %

  	
  11.00

  	
  %

  	
  11.00

  	
  %

  	
  12.00

  	
  %

  
	
  Equal to 30 years

  	
   

  	
  10.00

  	
  %

  	
  11.00

  	
  %

  	
  11.00

  	
  %

  	
  12.00

  	
  %

  

 

 26Exhibit
4.11

Elections
and Variables

to the ISDA Credit Support Annex

dated as of March 1, 2007

between

	
  

  	
  CREDIT
  SUISSE INTERNATIONAL

  	
   

  	
  and

  	
   

  	
  CNH
  EQUIPMENT TRUST 2007-A

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  (“Party
  A”)

  	
   

  	
   

  	
   

  	
  (“Party
  B”)

  	
   

  

 

Paragraph 13.

(a)           Security Interest for “Obligations”.

The term “Obligations”
as used in this Annex includes the following additional obligations:

With
respect to Party A:     None.

With
respect to Party B:     None.

(b)                                 Credit Support Obligations.

(i)            Delivery Amount, Return Amount and Credit
Support Amount.

(A)          “Delivery
Amount” has the meaning specified in Paragraph 3(a), except that
the words “upon a demand made by the Secured Party” shall be deleted and the
word “that” on the second line of Paragraph 3(a) shall be replaced with the word
“a”.

(B)           Paragraph 4(b) is
hereby amended by the insertion of the words “(i) in respect of a Transfer
pursuant to Paragraph 3(b),” immediately prior to the words “if a demand for”
and the insertion of the words “; and (ii) in respect of a Transfer pursuant to
Paragraph 3(a), the relevant Transfer will be made not later than the close of
business on the Local Business Day following the Valuation Date” immediately
prior to the period.

(C)           “Return
Amount” has the meaning specified in Paragraph 3(b).

(D)          “Credit Support Amount”
for a Valuation Date shall mean zero; provided that,
if the Threshold in respect of Party A is zero on such Valuation Date, “Credit Support Amount” shall mean
one of the following if one of the following specified events have occurred on
such Valuation Date:

(i)                                     if a Moody’s Collateralization Event has occurred
and is continuing but (a) no Moody’s Rating Event has occurred and is
continuing or (b) less than 30 Local Business Day have elapsed since the last
time that no Moody’s Rating Event had occurred and was continuing, “Credit Support Amount” shall mean an
amount in USD equal to the greater of (1) the sum of (a) the Secured Party’s
Exposure and (b) the First Trigger Collateral Amount (as defined below) for
each Transaction hereunder and (2) zero;

 22
 

(ii)                                  so long as a Moody’s Ratings Event has occurred
and is continuing and 30 or more Local Business Days have elapsed since the
last time that no Moody’s Rating Event had occurred and was continuing, “Credit Support Amount” shall mean an
amount in USD equal to the greatest of (1) the sum of (a) the Secured Party’s
Exposure and (b) the Second Trigger Collateral Amount (as defined below) for
each Transaction hereunder, (2) an amount equal to the Floating Amount payable
by Party A pursuant to each Transaction hereunder in respect of the first
Floating Rate Payer Payment Date scheduled to occur on or after such Valuation
Date and (3) zero; and

(iii)                               if an S&P Collateralization Event or an
S&P Ratings Event has occurred and is continuing, “Credit
Support Amount” shall mean an amount in USD equal to the greater
of (1) the sum of (a) the Secured Party’s Exposure and (b) the Notional
Volatility Buffer and (2) zero.  “Notional Volatility Buffer”, as
determined by the Valuation Agent for any date, means the product of (i) the
Notional Amount of the Transaction on such date, (ii) the Payment Factor, and
(iii) the Volatility Buffer Percentage for such date as set out in the table
below on such date,

	
  Party A S&P

  Rating on

  such date

  	
   

  	
  Remaining 

  Weighted 

  Average 

  Life 

  Maturity up 

  to 3 years

  	
   

  	
  Remaining 

  Weighted 

  Average Life 

  Maturity up

   to 5 years

  	
   

  	
  Remaining 

  Weighted 

  Average 

  Life 

  Maturity 
 up to 10 

  years

  	
   

  	
  Remaining 

  Weighted 

  Average 

  Life 

  Maturity 
 up to 30 

  years

  	
   

  
	
  S&P S-T Rating of “A-1” or above

  	
   

  	
  0.00

  	
  %

  	
  0.00

  	
  %

  	
  0.00

  	
  %

  	
  0.00

  	
  %

  
	
  S&P S-T Rating of “A-2”

  	
   

  	
  2.75

  	
  %

  	
  3.25

  	
  %

  	
  4.0

  	
  %

  	
  4.75

  	
  %

  
	
  S&P S-T Rating of “A-3”

  	
   

  	
  3.25

  	
  %

  	
  4.00

  	
  %

  	
  5.0

  	
  %

  	
  6.25

  	
  %

  
	
  S&P L-T Rating of “BB+” or lower

  	
   

  	
  3.50

  	
  %

  	
  4.50

  	
  %

  	
  6.75

  	
  %

  	
  7.50

  	
  %

  

 

L-T Rating means
with respect to any Person, the unsecured, unguaranteed and otherwise
unsupported long-term senior debt obligations of such Person.

S-T Rating means
with respect to any Person, the unsecured, unguaranteed and otherwise
unsupported short-term debt obligations of such Person.

Payment Factor
means 1.

(iv)                              if a Fitch Collateralization Event or a Fitch
Ratings Event has occurred and is continuing, “Credit
Support Amount” shall mean an amount in USD equal to the Secured
Party’s Exposure.

 23
 

In circumstances where more than one of Paragraph 13(b)(i)(C)(i), (ii),
(iii) and (iv) apply, the Credit Support Amount shall be calculated by
reference to the paragraph which would result in Party A Transferring the
greatest amount of Eligible Credit Support. 
Under no circumstances will Party A be required to Transfer more
Eligible Credit Support than the greatest amount calculated in accordance with
one of Paragraph 13(b)(i)(C)(i), (ii), (iii) or (iv).

First Trigger Collateral Amount means, in respect of each Transaction hereunder
on any date, an amount in USD equal to the Notional Amount of such Transaction
on such date multiplied by the Applicable Percentage set forth in the table in
Exhibit A hereto.

Second
Trigger Collateral Amount
means, in respect of each Transaction hereunder on any date, an amount in USD
equal to the Notional Amount of such Transaction on such date multiplied by the
Applicable Percentage set forth in the applicable table in Exhibit B hereto.

(ii)                                  Eligible Collateral.  On any
date, the following items will qualify as “Eligible Collateral”
for Party A:

(A)          Valuation Percentage
S&P

	
  (i)

  	
  Cash

  	
   

  	
  100

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (ii)

  	
  Negotiable debt obligations issued after 18 July
  1984 by the U.S. Treasury Department having a residual maturity on such date
  of less than 1 year

  	
   

  	
  98.0

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (iii)

  	
  Coupon-bearing negotiable debt obligations issued
  after 18 July 1984 by the U.S. Treasury Department having a residual maturity
  on such date equal to or greater than 1 year but less than 5 years

  	
   

  	
  93.8

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (iv)

  	
  Coupon-bearing negotiable debt obligations issued
  after 18 July 1984 by the U.S. Treasury Department having a residual maturity
  on such date equal to or greater than 5 years but less than 10 years

  	
   

  	
  90.3

  	
  %

  

 

(B)          Valuation Percentage
Moody’s

	
  INTRUMENT

  	
   

  	
  Daily

  	
   

  	
  Weekly

  	
   

  
	
  U.S. Dollar Cash

  	
   

  	
  100

  	
  %

  	
  100

  	
  %

  
	
  Fixed-Rate Negotiable treasury Debt Issued by the
  U.S. Treasury Department with Remaining Maturity

  
	
  <1 Year

  	
   

  	
  100

  	
  %

  	
  100

  	
  %

  
	
  1 to 2 years

  	
   

  	
  100

  	
  %

  	
  99

  	
  %

  
	
  2 to 3 years

  	
   

  	
  100

  	
  %

  	
  98

  	
  %

  
	
  3 to 5 years

  	
   

  	
  100

  	
  %

  	
  97

  	
  %

  
	
  5 to 7 years

  	
   

  	
  100

  	
  %

  	
  95

  	
  %

  
	
  7 to 10 years

  	
   

  	
  100

  	
  %

  	
  94

  	
  %

  
	
  Floating-Rate Negotiable treasury Debt Issued by the
  U.S. Treasury Department

  
	
  All Maturities

  	
   

  	
  100

  	
  %

  	
  99

  	
  %

  

 

(C)          Valuation Percentage
Fitch

 24
 

 

	
  INTRUMENT

  	
   

  	
  Daily

  	
   

  	
  Weekly

  	
   

  
	
  U.S. Dollar Cash

  	
   

  	
  100

  	
  %

  	
  100

  	
  %

  
	
  Fixed-Rate Negotiable treasury Debt Issued by the
  U.S. Treasury Department with Remaining Maturity

  
	
  <1 Year

  	
   

  	
  100

  	
  %

  	
  100

  	
  %

  
	
  1 to 2 years

  	
   

  	
  100

  	
  %

  	
  99

  	
  %

  
	
  2 to 3 years

  	
   

  	
  100

  	
  %

  	
  98

  	
  %

  
	
  3 to 5 years

  	
   

  	
  100

  	
  %

  	
  97

  	
  %

  
	
  5 to 7 years

  	
   

  	
  100

  	
  %

  	
  95

  	
  %

  
	
  7 to 10 years

  	
   

  	
  100

  	
  %

  	
  94

  	
  %

  
	
  Floating-Rate Negotiable treasury Debt Issued by the
  U.S. Treasury Department

  
	
  All Maturities

  	
   

  	
  100

  	
  %

  	
  99

  	
  %

  

 

In circumstances where all of Paragraphs
13(b)(ii)(A), (B) and (C) apply, the Valuation Percentage for an item of
Eligible Collateral shall be calculated by reference to the paragraph which
would result in the lower Valuation Percentage for such item of Eligible
Collateral.

(iii)                               Other Eligible Support.  None.

(iv)                              Thresholds.

(A)                              “Independent Amount”
means with respect to Party A:  Not applicable.

“Independent Amount” means
with respect to Party B:  Not applicable.

(B)                                “Threshold”
means:

With respect to Party A: infinity, provided that
if an S&P Ratings Event or a Collateralization Event has occurred and is
continuing, the Threshold with respect to Party A shall be zero, unless with
respect to a Collateralization Event, (i) Party A has remedied such
Collateralization Event in accordance with the terms of, and within the
relevant timeframe specified in, the Agreement by means other than posting
collateral pursuant to this Annex and a Ratings Event has not occurred and is
continuing or (ii)(a) neither a S&P Collateralization Event nor a Fitch
Collateralization Event has occurred and is continuing and (b) (1) if a Moody’s
Collateralization Event has occurred and is continuing, less than 30 Local
Business Days have elapsed since the last time no Moody’s Collateralization
Event has occurred and was continuing and (2) no Moody’s Collateralization
Event had occurred when this Annex was executed, in which case the Threshold
with respect to Party A shall remain infinity; and

With respect to Party B: infinity.

(C)                                “Minimum Transfer Amount”
means USD 100,000 with respect to Party A and Party B;  provided, however, that if the aggregate Note
Principal Balance of Notes rated by S&P ceases to be more than USD
50,000,000, the “Minimum Transfer Amount”
shall be USD 50,000.

(D)                               Rounding.  The Delivery Amount will be rounded up to the
nearest integral multiple of USD 10,000. 
The Return Amount will be rounded down to the nearest integral multiple
of USD 1,000.

 25
 

(c)                                  Valuation and Timing.

(i)                                     “Valuation Agent”
means Party A.  Calculations by Party A
will be made by reference to commonly accepted market sources.

(ii)                                  “Valuation Date”
means,

(A)                              in the event that a Collateralization Event other
an S&P Collateralization Event has occurred and is continuing, each Local
Business Day which, if treated as a Valuation Date, would result in a Delivery
Amount or a Return Amount; and

(B)                                in the event that only an S&P Collateralization
Event has occurred and is continuing, or a Ratings Event has occurred and is
continuing, the last Local Business Day of each calendar week.

(iii)                               “Valuation Time”
means the close of business in the city of the Valuation Agent on the Local
Business Day before the Valuation Date or date of calculation, as applicable, provided that the calculations of Value and Exposure will be
made as of approximately the same time on the same date.

(iv)                              “Notification Time”
means 4:00 p.m., London time, on a Local Business Day.

(d)                                 Conditions Precedent and Secured Party’s Rights
and Remedies.

No events shall constitute a “Specified Condition.”

(e)                                  Substitution.

(i)                                     “Substitution Date”
has the meaning specified in Paragraph 4(d)(ii).

(ii)                                  Consent.  The Pledgor must obtain the
Secured Party’s prior consent to any substitution pursuant to Paragraph 4(d)  and shall give to the Secured Party not less than
two (2) Local Business Days’ notice thereof specifying the items of Posted
Credit Support intended for substitution.

(f)                                    Dispute Resolution.

(i)                                     “Resolution Time” means 4:00 p.m.
London time on the Local Business Day following the date on which the notice of
the dispute is given under Paragraph 5.

(ii)                                  Value.  For the purpose of Paragraphs 5(i)(C) and
5(ii), on any date, the Value of Eligible Collateral and Posted Collateral will
be calculated as follows:

(A)          with
respect to any Cash; the amount thereof; and

(B)           with
respect to any Eligible Collateral comprising securities; the sum of (a)(x) the
last bid price on such date for such securities on the principal national
securities exchange on which such securities are listed, multiplied by the
applicable Valuation Percentage or (y) where any such securities are not listed
on a national securities exchange, the bid price for such securities quoted as
at the close of business on such date by any principal market maker for such
securities chosen by the Valuation Agent, multiplied by the applicable
Valuation Percentage or (z) if no such bid price is listed or quoted for such
date, the last bid price listed or quoted (as the case may be), as of the day
next preceding such date on which such prices were available; multiplied by the
applicable Valuation Percentage; plus

 26
 

(b) the accrued
interest on such securities (except to the extent that such interest shall have
been paid to the Pledgor pursuant to Paragraph 6(d)(ii) or included in the
applicable price referred to in subparagraph (a) above) as of such date.

(iii)                                    Alternative.  The provisions of Paragraph 5 will apply
provided the obligation of the appropriate party to deliver the undisputed
amount to the other party will not arise prior to the time that would otherwise
have applied to the Transfer pursuant to, or deemed made, under Paragraph 3 if
no dispute had arisen.

(g)                                 Holding
and Using Posted Collateral.

(i)                                     Eligibility
to Hold Posted Collateral; Custodians. 
Party B and its Custodian will be entitled to hold Posted Collateral, as
applicable, pursuant to Paragraph 6(b); provided that the following conditions
applicable to each party are satisfied:

(A)      Party B, as the
Secured Party, is not a Defaulting Party.

(B)        Party B hereby covenants
and agrees that it will, subject to Paragraph 13(n)(xi), cause all Posted
Collateral received from the other party to be entered in an Eligible Deposit
Account (as such term is defined in Appendix A to the Indenture).

(C)        the Custodian (if not the
Indenture Trustee) is an institution having assets of at least $10 billion and
a rating of at least A-1 from S&P, which account shall bear a title
indicating the Secured Party’s interest in said account and the Posted
Collateral in such account.

Initially, the
Custodian for Party B is:  The Bank of New York Trust
Company, N.A.

(ii)           Use
of Posted Collateral.  The
provisions of Paragraph 6(c) will not apply to Party B.  Therefore, Party B will not have any of the
rights specified in Paragraph 6(c)(i) or 6(c)(ii).

(iii)          Changing of Collateral Accounts.  The Secured Party or its Custodian, as the
case may be, may move such Eligible Deposit Account referred to in Paragraph
13(g)(i)(B) from one Custodian to another upon reasonable notice to the
Pledgor.  The Secured Party or its
Custodian shall cause notices or statements concerning the Posted Collateral
transferred or delivered by the Pledgor to be sent to the Pledgor on request,
which may not be made more frequently than once in each calendar month.

(h)                                 Distributions
and Interest Amount.

(i)                                 Interest
Rate.    The “Interest Rate”
will be the annualized rate of return actually achieved on Posted Collateral in
the form of Cash during the relevant Interest Period.

(ii)                              Transfer of Interest
Amount.  The Transfer of the
Interest Amount will be made on any Local Business Day on which Posted
Collateral in the form of Cash is Transferred to the Pledgor pursuant to
Paragraph 3(b), provided that such Interest Amount has been received prior
thereto.

(iii)                           Alternative
to Interest Amount.  The
provisions of Paragraph 6(d)(ii) will apply.

(i)                                     Additional
Representation(s).

There are no
additional representations by either party.

 27
 

(j)                                     Demands
and Notices.

All demands,
specifications and notices under this Annex will be made pursuant to the
Notices Section of this Agreement, save that any demand, specification or
notice:

(i)  shall be given to or made at the following
addresses:

If to Party A:

	
  Address:One Cabot Square

  
	
   

  	
   

  	
  London E14 4QJ

  
	
   

  	
   

  	
  England

  
	
   

  	
   

  	
   

  
	
  Telephone:

  	
   

  	
  44 20 7888 3083

  
	
  Facsimile:

  	
   

  	
  44 20 7883 7987

  
	
  Attention:

  	
   

  	
  Collateral Management Unit

  

 

If to Party B:

As set forth in
Part 4(a) of the Schedule;

or at such other
address as the relevant party may from time to time designate by giving notice
(in accordance with the terms of this paragraph)  to the other party;

(ii)                                  shall
(unless otherwise stated in this Annex) be deemed to be effective at the time
such notice is actually received unless such notice is received on a day which
is not a Local Business Day or after the Notification Time on any Local
Business Day in which event such notice shall be deemed to be effective on the
next succeeding Local Business Day.

(k)                                  Address
for Transfers.

Party A:  To be notified to Party B by Party A at the
time of the request for the Transfer.

Party B: To be
notified to Party A by Party B at the time of the request for the Transfer.

(l)                                     Other
Provisions.

(i)                                     Additional
Definitions

As used in this
Annex:

“Equivalent Collateral”  means, with respect to any security constituting Posted
Collateral, a security of the same issuer and, as applicable, representing or
having the same class, series, maturity, interest rate, principal amount or
liquidation value and such other provisions as are necessary for that security
and the security constituting Posted Collateral to be treated as equivalent in
the market for such securities;

“Local Business Day”  means: (i) any day on which commercial banks are open for
business (including dealings in foreign exchange and foreign currency deposits)
in London, and (ii) in relation to a Transfer of Eligible Collateral, a day on
which the clearance system agreed between the parties for the delivery of
Eligible Collateral is open for acceptance and execution of settlement 

 28
 

instructions (or
in the case of a Transfer of Cash or other Eligible Collateral for which
delivery is contemplated by other means, a day on which commercial banks are
open for business (including dealings for foreign exchange and foreign currency
deposits) in New York and such other places as the parties shall agree); and

“transaction-specific hedges”
has the meaning given to such term in “Framework for De-linking Hedge
Counterparty Risks from Global Structured Finance Cashflow Transactions Moody’s
Methodology” published by Moody’s Investors Service and dated May 25, 2006.

(ii)                                  Events
of Default

Paragraph 7 shall
be deleted and replaced in its entirety by the following paragraph:

“For the purposes
of Section 5(a)(iii)(1) of this Agreement, an Event of Default will exist with
respect to a party if that party fails (or fails to cause its Custodian) to
make, when due, any Transfer of Posted Credit Support or the Interest Amount,
as applicable, required to be made by it and that failure continues for two
Local Business Days after the notice of that failure is given to that party,
except that (A) if such failure would constitute an Additional Termination
Event under another provision of this Agreement and (B) no more than 30 Local
Business Days have elapsed since the last time that no Moody’s Rating Event has
occurred and was continuing, then such failure shall be an Additional
Termination Event and not an Event of Default”.

(iii)                               Return
of Fungible Securities

In lieu of
returning to the Pledgor pursuant to Paragraphs 3(b), 4(d), 5 and 8(d) any
Posted Collateral comprising securities the Secured Party may return Equivalent
Collateral.

(iv)                              Covenants of the Pledgor

So long as the
Agreement is in effect, the Pledgor covenants that it will keep the Posted
Collateral free from all security interests or other encumbrances created by
the Pledgor, except the security interest created hereunder and any security
interests or other encumbrances created by the Secured Party; and will not
sell, transfer, assign, deliver or otherwise dispose of, or grant any option
with respect to any Posted Collateral or any interest therein, or create, incur
or permit to exist any pledge, lien, mortgage, hypothecation, security
interest, charge, option or any other encumbrance with respect to any Posted
Collateral or any interest therein, without the prior written consent of the
Secured Party.

(v)                                 No
Counterclaim

A party’s rights
to demand and receive the Transfer of Eligible Collateral as provided hereunder
and its rights as Secured Party against the Posted Collateral or otherwise
shall be absolute and subject to no counterclaim, set-off, deduction or defense
in favor of the Pledgor except as contemplated in Sections 2 and 6 of the
Agreement and Paragraph 8 of this Annex.

(vi)                              Holding
Collateral

The Secured Party
shall cause any Custodian appointed hereunder to open and maintain a segregated
account and to hold, record and identify all the Posted Collateral in such
segregated account and, subject to Paragraph 8(a), such Posted Collateral shall
at all times be and remain the property of the Pledgor and shall at no time
constitute the property of, or be commingled with the property of, the Secured
Party or the Custodian.

 29
 

(vii)                           Security and Performance

Eligible
Collateral Transferred to the Secured Party constitutes security and
performance assurance without which the Secured Party would not otherwise enter
into and continue any and all Transactions.

(viii)                        Agreement as to Single
Secured Party and Pledgor

Party A and Party B agree that, notwithstanding
anything to the contrary in the recital to this Annex, Paragraph 1(b),
Paragraph 2 or the definitions in Paragraph 12, (a) the term “Secured Party” as used in this Annex means only Party B, (b)
the term “Pledgor” as used in this Annex means
only Party A, (c) only Party A makes the pledge and grant in Paragraph 2, the
acknowledgment in the final sentence of Paragraph 8(a) and the representations
in Paragraph 9 and (d) only Party A will be required to make Transfers of
Eligible Credit Support hereunder.

(ix)                                External Verification of Mark-to-Market Valuations.

On each Valuation Date
occurring while an S&P Collateralization Event is continuing, Party A shall
provide to S&P not later than the Notification Time on the Local Business
Day following such Valuation Date its calculations of Exposure and the S&P
Value of any Eligible Credit Support or Posted Credit Support for that
Valuation Date.  Every month after the
unsecured, unguaranteed and otherwise unsupported long-term debt
obligations of each Relevant Entity are rated below BBB+ by S&P, unless
otherwise agreed in writing with S&P, Party A will verify its determination
of Exposure of the Transaction and any Posted Credit Support on the next
Valuation Date by seeking quotations from two (2) Reference Market-makers for
their determination of Exposure of the Transaction on such Valuation Date and
the Valuation Agent will use the greater of either (a) its own determination or
(b) the highest quotation for a Reference Market-maker, if applicable, for the
next Valuation Date; provided, that
this Paragraph 13(l)(ix) shall only apply to the extent that the Notes
outstanding at such time are rated higher by S&P than the S&P L-T
Rating of Party A; and provided further,
that Party A shall not seek verification of its determination of Exposure as
described above from the same Reference Market-maker more than four times in
any twelve-month period.   Party A shall
provide to S&P copies of such verification details.

(x)                                   Expenses.

Notwithstanding Paragraph 10(a), the Pledgor will be responsible for,
and will reimburse the Secured Party for, all transfer costs involved in the
Transfer of Eligible Collateral from the Pledgor to the Secured Party (or any
agent or custodian for safekeeping of the Secured Party) or from the Secured
Party (or any agent or custodian for safekeeping of the Secured Party) to the
Pledgor pursuant to paragraph 4(d).

 30
 

Agreed and accepted:

	
  CREDIT SUISSE INTERNATIONAL

  	
   

  	
  CNH EQUIPMENT TRUST 2007-A 

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Wilmington Trust Company, 

  not in its individual capacity but 

  solely as Trustee under the 

  Trust Agreement

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Marleen Nobile

  	
   

  	
   

  	
  By:  

  	
  /s/ James A. Hanley

  	
   

  
	
  Name:

  	
  Marleen Nobile

  	
   

  	
   

  	
  Name:

  	
  James A. Hanley

  
	
  Title:

  	
  Authorized Signatory

  	
   

  	
   

  	
  Title:

  	
  Assistant Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   By:

  	
  /s/ Karnel Ouchikh

  	
   

  	
   

  
	
  Name:

  	
  Karnel Ouchikh

  	
   

  	
   

  
	
  Title:

  	
  Authorized Signatory

  	
   

  	
   

  
												

 

 31

EXHIBIT A

FIRST TRIGGER COLLATERAL AMOUNT APPLICABLE PERCENTAGES

For Transactions that are swaps, caps, floors and transaction-specific
hedges:

	
  Weighted Average 

  	
   

  	
  Interest Rate Hedges

  	
   

  	
  Currency Hedges

  	
   

  
	
  Life of Hedge in 

  	
   

  	
  Valuation Dates:

  	
   

  
	
  Years

  	
   

  	
  Daily

  	
   

  	
  Weekly

  	
   

  	
  Daily

  	
   

  	
  Weekly

  	
   

  
	
  Less than 1 year

  	
   

  	
  0.15

  	
  %

  	
  0.25

  	
  %

  	
  1.10

  	
  %

  	
  2.20

  	
  %

  
	
  Equal to or greater
  than 1 year but less than 2 years

  	
   

  	
  0.30

  	
  %

  	
  0.50

  	
  %

  	
  1.20

  	
  %

  	
  2.40

  	
  %

  
	
  Equal to or greater
  than 2 years but less than 3 years

  	
   

  	
  0.40

  	
  %

  	
  0.70

  	
  %

  	
  1.30

  	
  %

  	
  2.60

  	
  %

  
	
  Equal to or greater
  than 3 years but less than 4 years

  	
   

  	
  0.60

  	
  %

  	
  1.00

  	
  %

  	
  1.40

  	
  %

  	
  2.80

  	
  %

  
	
  Equal to or greater
  than 4 years but less than 5 years

  	
   

  	
  0.70

  	
  %

  	
  1.20

  	
  %

  	
  1.50

  	
  %

  	
  2.90

  	
  %

  
	
  Equal to or greater
  than 5 years but less than 6 years

  	
   

  	
  0.80

  	
  %

  	
  1.40

  	
  %

  	
  1.60

  	
  %

  	
  3.10

  	
  %

  
	
  Equal to or greater
  than 6 years but less than 7 years

  	
   

  	
  1.00

  	
  %

  	
  1.60

  	
  %

  	
  1.60

  	
  %

  	
  3.30

  	
  %

  
	
  Equal to or greater
  than 7 years but less than 8 years

  	
   

  	
  1.10

  	
  %

  	
  1.80

  	
  %

  	
  1.70

  	
  %

  	
  3.40

  	
  %

  
	
  Equal to or greater
  than 8 years but less than 9 years

  	
   

  	
  1.20

  	
  %

  	
  2.00

  	
  %

  	
  1.80

  	
  %

  	
  3.60

  	
  %

  
	
  Equal to or greater
  than 9 years but less than 10 years

  	
   

  	
  1.30

  	
  %

  	
  2.20

  	
  %

  	
  1.90

  	
  %

  	
  3.80

  	
  %

  
	
  Equal to or greater
  than 10 years but less than 11 years

  	
   

  	
  1.40

  	
  %

  	
  2.30

  	
  %

  	
  1.90

  	
  %

  	
  3.90

  	
  %

  
	
  Equal to or greater
  than 11 years but less than 12 years

  	
   

  	
  1.50

  	
  %

  	
  2.50

  	
  %

  	
  2.00

  	
  %

  	
  4.00

  	
  %

  
	
  Equal to or greater
  than 12 years but less than 13 years

  	
   

  	
  1.60

  	
  %

  	
  2.70

  	
  %

  	
  2.10

  	
  %

  	
  4.10

  	
  %

  
	
  Equal to or greater
  than 13 years but less than 14 years

  	
   

  	
  1.70

  	
  %

  	
  2.80

  	
  %

  	
  2.10

  	
  %

  	
  4.30

  	
  %

  

 

 32
 

 

	
  Weighted Average 

  	
   

  	
  Interest Rate Hedges

  	
   

  	
  Currency Hedges

  	
   

  
	
  Life of Hedge in 

  	
   

  	
  Valuation Dates:

  	
   

  
	
  Years

  	
   

  	
  Daily

  	
   

  	
  Weekly

  	
   

  	
  Daily

  	
   

  	
  Weekly

  	
   

  
	
  Equal to or greater
  than 14 years but less than 15 years

  	
   

  	
  1.80

  	
  %

  	
  3.00

  	
  %

  	
  2.20

  	
  %

  	
  4.40

  	
  %

  
	
  Equal to or greater
  than 15 years but less than 16 years

  	
   

  	
  1.90

  	
  %

  	
  3.20

  	
  %

  	
  2.30

  	
  %

  	
  4.50

  	
  %

  
	
  Equal to or greater
  than 16 years but less than 17 years

  	
   

  	
  2.00

  	
  %

  	
  3.30

  	
  %

  	
  2.30

  	
  %

  	
  4.60

  	
  %

  
	
  Equal to or greater
  than 17 years but less than 18 years

  	
   

  	
  2.00

  	
  %

  	
  3.50

  	
  %

  	
  2.40

  	
  %

  	
  4.80

  	
  %

  
	
  Equal to or greater
  than 18 years but less than 19 years

  	
   

  	
  2.00

  	
  %

  	
  3.60

  	
  %

  	
  2.40

  	
  %

  	
  4.90

  	
  %

  
	
  Equal to or greater
  than 19 years but less than 20 years

  	
   

  	
  2.00

  	
  %

  	
  3.70

  	
  %

  	
  2.50

  	
  %

  	
  5.00

  	
  %

  
	
  Equal to or greater
  than 20 years but less than 21 years

  	
   

  	
  2.00

  	
  %

  	
  3.90

  	
  %

  	
  2.50

  	
  %

  	
  5.00

  	
  %

  
	
  Equal to or greater
  than 21 years but less than 22 years

  	
   

  	
  2.00

  	
  %

  	
  4.00

  	
  %

  	
  2.50

  	
  %

  	
  5.00

  	
  %

  
	
  Equal to or greater
  than 22 years but less than 23 years

  	
   

  	
  2.00

  	
  %

  	
  4.00

  	
  %

  	
  2.50

  	
  %

  	
  5.00

  	
  %

  
	
  Equal to or greater
  than 23 years but less than 24 years

  	
   

  	
  2.00

  	
  %

  	
  4.00

  	
  %

  	
  2.50

  	
  %

  	
  5.00

  	
  %

  
	
  Equal to or greater
  than 24 years but less than 25 years

  	
   

  	
  2.00

  	
  %

  	
  4.00

  	
  %

  	
  2.50

  	
  %

  	
  5.00

  	
  %

  
	
  Equal to or greater
  than 25 years but less than 26 years

  	
   

  	
  2.00

  	
  %

  	
  4.00

  	
  %

  	
  2.50

  	
  %

  	
  5.00

  	
  %

  
	
  Equal to or greater
  than 26 years but less than 27 years

  	
   

  	
  2.00

  	
  %

  	
  4.00

  	
  %

  	
  2.50

  	
  %

  	
  5.00

  	
  %

  
	
  Equal to or greater
  than 27 years but less than 28 years

  	
   

  	
  2.00

  	
  %

  	
  4.00

  	
  %

  	
  2.50

  	
  %

  	
  5.00

  	
  %

  
	
  Equal to or greater than
  28 years but less than 29 years

  	
   

  	
  2.00

  	
  %

  	
  4.00

  	
  %

  	
  2.50

  	
  %

  	
  5.00

  	
  %

  
	
  Equal to or greater
  than 29 years but less than 30 years

  	
   

  	
  2.00

  	
  %

  	
  4.00

  	
  %

  	
  2.50

  	
  %

  	
  5.00

  	
  %

  
	
  Equal to 30 years

  	
   

  	
  2.00

  	
  %

  	
  4.00

  	
  %

  	
  2.50

  	
  %

  	
  5.00

  	
  %

  

 

 33
 

EXHIBIT B

SECOND TRIGGER COLLATERAL AMOUNT APPLICABLE PERCENTAGES

For Transactions that are swaps (excludes caps, floors and
transaction-specific hedges):

	
  Weighted Average

  	
   

  	
  Interest Rate Swaps

  	
   

  	
  Currency Swaps

  	
   

  
	
  Life of Hedge in

  	
   

  	
  Valuation Dates:

  	
   

  
	
  Years

  	
   

  	
  Daily

  	
   

  	
  Weekly

  	
   

  	
  Daily

  	
   

  	
  Weekly

  	
   

  
	
  Less than 1 year

  	
   

  	
  0.50

  	
  %

  	
  0.60

  	
  %

  	
  6.10

  	
  %

  	
  7.25

  	
  %

  
	
  Equal to or
  greater than 1 year but less than 2 years

  	
   

  	
  1.00

  	
  %

  	
  1.20

  	
  %

  	
  6.30

  	
  %

  	
  7.50

  	
  %

  
	
  Equal to or
  greater than 2 years but less than 3 years

  	
   

  	
  1.50

  	
  %

  	
  1.70

  	
  %

  	
  6.40

  	
  %

  	
  7.70

  	
  %

  
	
  Equal to or
  greater than 3 years but less than 4 years

  	
   

  	
  1.90

  	
  %

  	
  2.30

  	
  %

  	
  6.60

  	
  %

  	
  8.00

  	
  %

  
	
  Equal to or
  greater than 4 years but less than 5 years

  	
   

  	
  2.40

  	
  %

  	
  2.80

  	
  %

  	
  6.70

  	
  %

  	
  8.20

  	
  %

  
	
  Equal to or
  greater than 5 years but less than 6 years

  	
   

  	
  2.80

  	
  %

  	
  3.30

  	
  %

  	
  6.80

  	
  %

  	
  8.40

  	
  %

  
	
  Equal to or
  greater than 6 years but less than 7 years

  	
   

  	
  3.20

  	
  %

  	
  3.80

  	
  %

  	
  7.00

  	
  %

  	
  8.60

  	
  %

  
	
  Equal to or
  greater than 7 years but less than 8 years

  	
   

  	
  3.60

  	
  %

  	
  4.30

  	
  %

  	
  7.10

  	
  %

  	
  8.80

  	
  %

  
	
  Equal to or
  greater than 8 years but less than 9 years

  	
   

  	
  4.00

  	
  %

  	
  4.80

  	
  %

  	
  7.20

  	
  %

  	
  9.00

  	
  %

  
	
  Equal to or
  greater than 9 years but less than 10 years

  	
   

  	
  4.40

  	
  %

  	
  5.30

  	
  %

  	
  7.30

  	
  %

  	
  9.20

  	
  %

  
	
  Equal to or
  greater than 10 years but less than 11 years

  	
   

  	
  4.70

  	
  %

  	
  5.60

  	
  %

  	
  7.40

  	
  %

  	
  9.30

  	
  %

  
	
  Equal to or
  greater than 11 years but less than 12 years

  	
   

  	
  5.00

  	
  %

  	
  6.00

  	
  %

  	
  7.50

  	
  %

  	
  9.50

  	
  %

  
	
  Equal to or
  greater than 12 years but less than 13 years

  	
   

  	
  5.40

  	
  %

  	
  6.40

  	
  %

  	
  7.60

  	
  %

  	
  9.70

  	
  %

  
	
  Equal to or
  greater than 13 years but less than 14 years

  	
   

  	
  5.70

  	
  %

  	
  6.80

  	
  %

  	
  7.70

  	
  %

  	
  9.80

  	
  %

  
	
  Equal to or
  greater than 14 years but less than 15 years

  	
   

  	
  6.00

  	
  %

  	
  7.20

  	
  %

  	
  7.80

  	
  %

  	
  10.00

  	
  %

  

 

 34
 

 

	
  Weighted Average

  	
   

  	
  Interest Rate Swaps

  	
   

  	
  Currency Swaps

  	
   

  
	
  Life of Hedge in

  	
   

  	
  Valuation Dates:

  	
   

  
	
  Years

  	
   

  	
  Daily

  	
   

  	
  Weekly

  	
   

  	
  Daily

  	
   

  	
  Weekly

  	
   

  
	
  Equal to or
  greater than 15 years but less than 16 years

  	
   

  	
  6.30

  	
  %

  	
  7.60

  	
  %

  	
  7.90

  	
  %

  	
  10.00

  	
  %

  
	
  Equal to or
  greater than 16 years but less than 17 years

  	
   

  	
  6.60

  	
  %

  	
  7.90

  	
  %

  	
  8.00

  	
  %

  	
  10.00

  	
  %

  
	
  Equal to or
  greater than 17 years but less than 18 years

  	
   

  	
  6.90

  	
  %

  	
  8.30

  	
  %

  	
  8.10

  	
  %

  	
  10.00

  	
  %

  
	
  Equal to or
  greater than 18 years but less than 19 years

  	
   

  	
  7.20

  	
  %

  	
  8.60

  	
  %

  	
  8.20

  	
  %

  	
  10.00

  	
  %

  
	
  Equal to or
  greater than 19 years but less than 20 years

  	
   

  	
  7.50

  	
  %

  	
  9.00

  	
  %

  	
  8.20

  	
  %

  	
  10.00

  	
  %

  
	
  Equal to or
  greater than 20 years but less than 21 years

  	
   

  	
  7.80

  	
  %

  	
  9.00

  	
  %

  	
  8.30

  	
  %

  	
  10.00

  	
  %

  
	
  Equal to or
  greater than 21 years but less than 22 years

  	
   

  	
  8.00

  	
  %

  	
  9.00

  	
  %

  	
  8.40

  	
  %

  	
  10.00

  	
  %

  
	
  Equal to or
  greater than 22 years but less than 23 years

  	
   

  	
  8.00

  	
  %

  	
  9.00

  	
  %

  	
  8.50

  	
  %

  	
  10.00

  	
  %

  
	
  Equal to or
  greater than 23 years but less than 24 years

  	
   

  	
  8.00

  	
  %

  	
  9.00

  	
  %

  	
  8.60

  	
  %

  	
  10.00

  	
  %

  
	
  Equal to or
  greater than 24 years but less than 25 years

  	
   

  	
  8.00

  	
  %

  	
  9.00

  	
  %

  	
  8.60

  	
  %

  	
  10.00

  	
  %

  
	
  Equal to or
  greater than 25 years but less than 26 years

  	
   

  	
  8.00

  	
  %

  	
  9.00

  	
  %

  	
  8.70

  	
  %

  	
  10.00

  	
  %

  
	
  Equal to or
  greater than 26 years but less than 27 years

  	
   

  	
  8.00

  	
  %

  	
  9.00

  	
  %

  	
  8.80

  	
  %

  	
  10.00

  	
  %

  
	
  Equal to or
  greater than 27 years but less than 28 years

  	
   

  	
  8.00

  	
  %

  	
  9.00

  	
  %

  	
  8.80

  	
  %

  	
  10.00

  	
  %

  
	
  Equal to or
  greater than 28 years but less than 29 years

  	
   

  	
  8.00

  	
  %

  	
  9.00

  	
  %

  	
  8.90

  	
  %

  	
  10.00

  	
  %

  
	
  Equal to or
  greater than 29 years but less than 30 years

  	
   

  	
  8.00

  	
  %

  	
  9.00

  	
  %

  	
  8.90

  	
  %

  	
  10.00

  	
  %

  
	
  Equal to 30 years

  	
   

  	
  8.00

  	
  %

  	
  9.00

  	
  %

  	
  9.00

  	
  %

  	
  10.00

  	
  %

  

 

 35
 

For Transactions that are caps, floors, swaptions and
transaction-specific hedges:

	
  Weighted Average 

  	
   

  	
  Interest Rate Hedges

  	
   

  	
  Currency Hedges

  	
   

  
	
  Life of Hedge in 

  	
   

  	
  Valuation Dates:

  	
   

  
	
  Years

  	
   

  	
  Daily

  	
   

  	
  Weekly

  	
   

  	
  Daily

  	
   

  	
  Weekly

  	
   

  
	
  Less than 1 year

  	
   

  	
  0.65

  	
  %

  	
  0.75

  	
  %

  	
  6.30

  	
  %

  	
  7.40

  	
  %

  
	
  Equal to or
  greater than 1 year but less than 2 years

  	
   

  	
  1.30

  	
  %

  	
  1.50

  	
  %

  	
  6.60

  	
  %

  	
  7.80

  	
  %

  
	
  Equal to or
  greater than 2 years but less than 3 years

  	
   

  	
  1.90

  	
  %

  	
  2.20

  	
  %

  	
  6.90

  	
  %

  	
  8.20

  	
  %

  
	
  Equal to or
  greater than 3 years but less than 4 years

  	
   

  	
  2.50

  	
  %

  	
  2.90

  	
  %

  	
  7.10

  	
  %

  	
  8.50

  	
  %

  
	
  Equal to or
  greater than 4 years but less than 5 years

  	
   

  	
  3.10

  	
  %

  	
  3.60

  	
  %

  	
  7.40

  	
  %

  	
  8.90

  	
  %

  
	
  Equal to or
  greater than 5 years but less than 6 years

  	
   

  	
  3.60

  	
  %

  	
  4.20

  	
  %

  	
  7.70

  	
  %

  	
  9.20

  	
  %

  
	
  Equal to or
  greater than 6 years but less than 7 years

  	
   

  	
  4.20

  	
  %

  	
  4.80

  	
  %

  	
  7.90

  	
  %

  	
  9.60

  	
  %

  
	
  Equal to or
  greater than 7 years but less than 8 years

  	
   

  	
  4.70

  	
  %

  	
  5.40

  	
  %

  	
  8.20

  	
  %

  	
  9.90

  	
  %

  
	
  Equal to or
  greater than 8 years but less than 9 years

  	
   

  	
  5.20

  	
  %

  	
  6.00

  	
  %

  	
  8.40

  	
  %

  	
  10.20

  	
  %

  
	
  Equal to or
  greater than 9 years but less than 10 years

  	
   

  	
  5.70

  	
  %

  	
  6.60

  	
  %

  	
  8.60

  	
  %

  	
  10.50

  	
  %

  
	
  Equal to or
  greater than 10 years but less than 11 years

  	
   

  	
  6.10

  	
  %

  	
  7.00

  	
  %

  	
  8.80

  	
  %

  	
  10.70

  	
  %

  
	
  Equal to or
  greater than 11 years but less than 12 years

  	
   

  	
  6.50

  	
  %

  	
  7.50

  	
  %

  	
  9.00

  	
  %

  	
  11.00

  	
  %

  
	
  Equal to or
  greater than 12 years but less than 13 years

  	
   

  	
  7.00

  	
  %

  	
  8.00

  	
  %

  	
  9.20

  	
  %

  	
  11.30

  	
  %

  
	
  Equal to or
  greater than 13 years but less than 14 years

  	
   

  	
  7.40

  	
  %

  	
  8.50

  	
  %

  	
  9.40

  	
  %

  	
  11.50

  	
  %

  
	
  Equal to or
  greater than 14 years but less than 15 years

  	
   

  	
  7.80

  	
  %

  	
  9.00

  	
  %

  	
  9.60

  	
  %

  	
  11.80

  	
  %

  

 

 36
 

 

	
  Weighted Average

  	
   

  	
  Interest Rate Hedges

  	
   

  	
  Currency Hedges

  	
   

  
	
  Life of Hedge in

  	
   

  	
  Valuation Dates:

  	
   

  
	
  Years

  	
   

  	
  Daily

  	
   

  	
  Weekly

  	
   

  	
  Daily

  	
   

  	
  Weekly

  	
   

  
	
  Equal to or greater
  than 15 years but less than 16 years

  	
   

  	
  8.20

  	
  %

  	
  9.50

  	
  %

  	
  9.80

  	
  %

  	
  11.80

  	
  %

  
	
  Equal to or
  greater than 16 years but less than 17 years

  	
   

  	
  8.60

  	
  %

  	
  9.90

  	
  %

  	
  10.00

  	
  %

  	
  12.00

  	
  %

  
	
  Equal to or
  greater than 17 years but less than 18 years

  	
   

  	
  9.00

  	
  %

  	
  10.40

  	
  %

  	
  10.10

  	
  %

  	
  12.00

  	
  %

  
	
  Equal to or
  greater than 18 years but less than 19 years

  	
   

  	
  9.40

  	
  %

  	
  10.80

  	
  %

  	
  10.30

  	
  %

  	
  12.00

  	
  %

  
	
  Equal to or
  greater than 19 years but less than 20 years

  	
   

  	
  9.70

  	
  %

  	
  11.00

  	
  %

  	
  10.50

  	
  %

  	
  12.00

  	
  %

  
	
  Equal to or
  greater than 20 years but less than 21 years

  	
   

  	
  10.00

  	
  %

  	
  11.00

  	
  %

  	
  10.70

  	
  %

  	
  12.00

  	
  %

  
	
  Equal to or
  greater than 21 years but less than 22 years

  	
   

  	
  10.00

  	
  %

  	
  11.00

  	
  %

  	
  10.80

  	
  %

  	
  12.00

  	
  %

  
	
  Equal to or
  greater than 22 years but less than 23 years

  	
   

  	
  10.00

  	
  %

  	
  11.00

  	
  %

  	
  11.00

  	
  %

  	
  12.00

  	
  %

  
	
  Equal to or
  greater than 23 years but less than 24 years

  	
   

  	
  10.00

  	
  %

  	
  11.00

  	
  %

  	
  11.00

  	
  %

  	
  12.00

  	
  %

  
	
  Equal to or
  greater than 24 years but less than 25 years

  	
   

  	
  10.00

  	
  %

  	
  11.00

  	
  %

  	
  11.00

  	
  %

  	
  12.00

  	
  %

  
	
  Equal to or
  greater than 25 years but less than 26 years

  	
   

  	
  10.00

  	
  %

  	
  11.00

  	
  %

  	
  11.00

  	
  %

  	
  12.00

  	
  %

  
	
  Equal to or
  greater than 26 years but less than 27 years

  	
   

  	
  10.00

  	
  %

  	
  11.00

  	
  %

  	
  11.00

  	
  %

  	
  12.00

  	
  %

  
	
  Equal to or
  greater than 27 years but less than 28 years

  	
   

  	
  10.00

  	
  %

  	
  11.00

  	
  %

  	
  11.00

  	
  %

  	
  12.00

  	
  %

  
	
  Equal to or
  greater than 28 years but less than 29 years

  	
   

  	
  10.00

  	
  %

  	
  11.00

  	
  %

  	
  11.00

  	
  %

  	
  12.00

  	
  %

  
	
  Equal to or
  greater than 29 years but less than 30 years

  	
   

  	
  10.00

  	
  %

  	
  11.00

  	
  %

  	
  11.00

  	
  %

  	
  12.00

  	
  %

  
	
  Equal to 30 years

  	
   

  	
  10.00

  	
  %

  	
  11.00

  	
  %

  	
  11.00

  	
  %

  	
  12.00

  	
  %

  

 

 

 37

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00119-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00119-of-00352.parquet"}]]