Document:

Exhibit 4.57

 

 

TAL ADVANTAGE IV LLC

Issuer

 

and

 

WELLS FARGO BANK, NATIONAL ASSOCIATION

Indenture Trustee

 

 

SERIES 2010-2 SUPPLEMENT

Dated as of October 19, 2010

 

to

 

INDENTURE

Dated as of June 28, 2010

 

 

SERIES 2010-2, FIXED RATE SECURED NOTES

 

 

 

TABLE OF CONTENTS

 

	
   

  	
  Page

  
	
   

  	
   

  
	
  ARTICLE I

  
	
   

  
	
  Definitions;
  Calculation Guidelines

  
	
   

  
	
  Section
  101.

  	
  Definitions

  	
  4

  
	
   

  	
   

  	
   

  
	
  ARTICLE II

  
	
   

  
	
  Creation
  of the Series 2010-2 Notes

  
	
   

  
	
  Section 201.

  	
  Designation

  	
  8

  
	
  Section
  202.

  	
  Authentication
  and Delivery

  	
  8

  
	
  Section
  203.

  	
  Interest
  Payments on the Series 2010-2 Notes

  	
  9

  
	
  Section
  204.

  	
  Principal
  Payments on the Series 2010-2 Notes

  	
  9

  
	
  Section
  205.

  	
  Prepayment
  of Principal on the Series 2010-2 Notes

  	
  10

  
	
  Section
  206.

  	
  Restrictions
  on Transfer

  	
  10

  
	
   

  	
   

  	
   

  
	
  ARTICLE III

  
	
   

  
	
  Series
  2010-2 Series Account and Allocation and

  
	
  Application
  of Amounts Therein; Policy

  
	
   

  
	
  Section
  301.

  	
  Series
  2010-2 Series Account

  	
  15

  
	
  Section
  302.

  	
  Investment
  of Funds

  	
  15

  
	
  Section
  303.

  	
  Distributions
  from Series 2010-2 Series Account

  	
  15

  
	
   

  	
   

  	
   

  
	
  ARTICLE
  IV

  
	
   

  
	
  [Reserved]

  
	
   

  
	
  ARTICLE V

  
	
   

  
	
  Conditions
  to Issuance

  
	
   

  
	
  Section
  501.

  	
  Conditions
  to Issuance

  	
  17

  
	
   

  	
   

  	
   

  
	
  ARTICLE VI

  
	
   

  
	
  Representations
  and Warranties

  
	
   

  
	
  Section 601.

  	
  Existence

  	
  17

  
	
  Section
  602.

  	
  Authorization

  	
  18

  
	
  Section
  603.

  	
  No
  Conflict; Legal Compliance

  	
  18

  
	
  Section
  604.

  	
  Validity
  and Binding Effect

  	
  18

  
	
  Section
  605.

  	
  Financial
  Conditions

  	
  18

  
	
  Section
  606.

  	
  Place of
  Business

  	
  18

  
	
  Section
  607.

  	
  No
  Agreements or Contracts

  	
  18

  

 

i

 

TABLE
OF CONTENTS (cont’d)

 

	
   

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  
	
  Section
  608.

  	
  Consents
  and Approvals

  	
  19

  
	
  Section
  609.

  	
  Margin
  Regulations

  	
  19

  
	
  Section
  610.

  	
  Taxes

  	
  19

  
	
  Section
  611.

  	
  Other
  Regulations

  	
  19

  
	
  Section
  612.

  	
  Solvency
  and Separateness

  	
  20

  
	
  Section
  613.

  	
  Survival
  of Representations and Warranties

  	
  20

  
	
  Section
  614.

  	
  No
  Default

  	
  20

  
	
  Section
  615.

  	
  Litigation
  and Contingent Liabilities

  	
  20

  
	
  Section
  616.

  	
  Title;
  Liens

  	
  21

  
	
  Section
  617.

  	
  Subsidiaries

  	
  21

  
	
  Section
  618.

  	
  No
  Partnership

  	
  21

  
	
  Section
  619.

  	
  Pension
  and Welfare Plans

  	
  21

  
	
  Section 620.

  	
  Ownership
  of the Issuer

  	
  21

  
	
  Section 621.

  	
  Security
  Interest Representations

  	
  21

  
	
   

  	
   

  	
   

  
	
  ARTICLE VII

  
	
   

  	
   

  	
   

  
	
  Miscellaneous
  Provisions

  
	
   

  
	
  Section 701.

  	
  Ratification
  of Indenture

  	
  23

  
	
  Section
  702.

  	
  Counterparts

  	
  23

  
	
  Section
  703.

  	
  Governing
  Law

  	
  23

  
	
  Section
  704.

  	
  Notices
  to the Rating Agency

  	
  23

  
	
  Section
  705.

  	
  Amendments
  and Modifications

  	
  23

  
	
  Section
  706.

  	
  Consent
  to Jurisdiction

  	
  24

  
	
  Section
  707.

  	
  Waiver of
  Jury Trial

  	
  24

  
	
  Section
  708.

  	
  No
  Petition

  	
  24

  
	
  Section
  709.

  	
  Amendment to Section 201(d) of Series 2010-1 Supplement

  	
  24

  

 

ii

 

TABLE OF CONTENTS (cont’d)

 

EXHIBITS

 

	
  EXHIBIT A-1

  	
  Form of
  144A Global Note

  
	
  EXHIBIT A-2

  	
  Form of
  Temporary Regulation S Global Note

  
	
  EXHIBIT A-3

  	
  Form of
  Permanent Regulation S Global Note

  
	
  EXHIBIT A-4

  	
  Form of
  Note Issued to Institutional Accredited Investors

  
	
  EXHIBIT B

  	
  Form of
  Certificate to be Given by Noteholders

  
	
  EXHIBIT C

  	
  Form of
  Certificate to be Given by Euroclear or Clearstream

  
	
  EXHIBIT D

  	
  Form of
  Certificate to be Given by Transferee of Beneficial Interest In a Temporary
  Regulation S Global Note

  
	
  EXHIBIT E

  	
  Form of
  Transfer Certificate for Exchange or Transfer From 144A Note to Regulations S
  Note

  
	
  EXHIBIT F

  	
  Form of
  Initial Purchaser Exchange Instructions

  

 

SCHEDULES

 

	
  SCHEDULE
  1

  	
  Series 2010-2
  Minimum Targeted Principal Balances by Payment Date

  
	
   

  	
  Series 2010-2
  Scheduled Targeted Principal Balances by Payment Date

  

 

iii

 

THIS
SERIES 2010-2 SUPPLEMENT, dated as of October 19, 2010 (as amended,
modified and supplemented from time to time in accordance with the terms
hereof, this “Supplement”), is between TAL ADVANTAGE IV LLC, a limited
liability company organized under the laws of Delaware (the “Issuer”),
and Wells Fargo Bank, National Association, a national banking association, as
Indenture Trustee (the “Indenture Trustee”).

 

WHEREAS,
pursuant to the Indenture, dated as of June 28, 2010 (as amended, modified
or supplemented from time to time in accordance with its terms, the “Indenture”),
between the Issuer and the Indenture Trustee, the Issuer may from time to time
direct the Indenture Trustee to authenticate one or more new Series of
Notes. The Principal Terms of any new Series are to be set forth in a
Supplement to the Indenture.

 

WHEREAS,
pursuant to this Supplement, the Issuer and the Indenture Trustee shall create
a new Series of Notes (“Series 2010-2”) and specify the
Principal Terms thereof.

 

NOW
THEREFORE, in consideration of the premises and mutual covenants herein
contained, the parties hereto agree as follows:

 

ARTICLE I

 

Definitions;
Calculation Guidelines

 

Section 101.           Definitions.  (a)  Whenever used in this Supplement,
the following words and phrases shall have the following meanings, and the
definitions of such terms are applicable to the singular as well as the plural
forms of such terms and to the masculine as well as to the feminine and neuter
genders of such terms.

 

“144A Global Notes” means the 144A Global Notes
substantially in the form of Exhibit A-1 hereto.

 

“2010-2 Closing Date” means October 19, 2010.

 

“Aggregate Series 2010-2 Note Principal Balance” means, as of
any date of determination, an amount equal to the sum of the Series 2010-2
Note Principal Balances of all Series 2010-2 Notes then Outstanding, which
as of the 2010-2 Closing Date shall be Two Hundred and Three Million Dollars
($203,000,000).

 

“Benefit Plan”  means an “employee benefit plan” as defined in Section 3(3) of
ERISA that is subject to Title I of ERISA, a “plan” within the meaning of Section 4975(e)(1) of
the Code or an entity whose underlying assets include “plan assets” of any of
the foregoing by reason of an employee benefit plan’s or plan’s investment in
such entity.

 

“Clearing Agency” means, with respect to any
Global Note, any Person designated as such by the Issuer, which Person must be
registered as a “clearing agency” pursuant to Section 17A of the
Securities Exchange Act of 1934.

 

4

 

“Control Party” means, with
respect to Series 2010-2, the Majority of Holders of the Series 2010-2
Notes.

 

“Default Fee”
means, for any Payment Date on which interest on overdue amounts is payable in
accordance with the provisions of Section 203(b) hereof, an amount
equal to the excess of (x) the total amount of interest payable on such
Payment Date, including the amount of interest otherwise payable on such
Payment Date pursuant to the provisions of Section 203(b), over (y) the
amount of interest that would have been payable on such Payment Date if no
payment default had occurred.

 

“Default Rate” means, for any date of
determination, an interest rate per annum equal to two percent (2.00%).

 

“Deficiency Amount” means (a) for any
Payment Date other than the Series 2010-2 Legal Final Maturity Date, any
shortfall in the aggregate amount available in the Series 2010-2 Series Account
for the Series 2010-2 Notes or any other amounts available under the
Indenture or this Supplement to pay the Series 2010-2 Note Interest
Payment due and payable on all Series 2010-2 Notes on such Payment Date,
and (b) on the Series 2010-2 Legal Final Maturity Date, any shortfall
in the aggregate amount available in the Series 2010-2 Series Account
or any other amounts available under the Indenture or this Supplement to pay
the then Aggregate Series 2010-2 Note Principal Balance and accrued but
unpaid Series 2010-2 Note Interest Payments.

 

“Definitive Note” shall have the meaning set
forth in Appendix A to the Indenture.

 

“Dollars” and the sign “$” mean
lawful money of the United States of America.

 

“DTC” shall have the meaning set
forth in Section 206.

 

“Initial Purchaser” means Wells Fargo
Securities, LLC, a Delaware limited liability company.

 

“Institutional Accredited Investors” shall have the
meaning set forth in Section 206.

 

“Majority of Holders” means, with respect to the Series 2010-2
Notes as of any date of determination, the Series 2010-2 Noteholders
holding Series 2010-2 Notes constituting more than fifty percent (50%) of
the then Aggregate Series 2010-2 Note Principal Balance.

 

“Minimum Principal Payment Amount” means, for the
Series 2010-2 Notes on any Payment Date, the excess, if any, of (x) the
then Aggregate Series 2010-2 Note Principal Balance over (y) the
Minimum Targeted Principal Balance for the Series 2010-2 Notes for such
Payment Date.

 

“Minimum Targeted Principal Balance” means for the Series 2010-2
Notes for each Payment Date, the amount set forth opposite such Payment Date on
Schedule 1 hereto 

 

5

 

under
the column titled “Minimum Targeted Principal Balance”, as the amounts on
Schedule 1 hereto may be amended from time to time in accordance with the
provisions of the Indenture.

 

“Moody’s” shall mean Moody’s Investors
Service, Inc. and any successor thereto.

 

“Notice” means the telephonic or
telegraphic notice, promptly confirmed in writing by telecopy in the form
required by the Policy, the original of which is subsequently delivered by
registered or certified mail, for the Indenture Trustee specifying the Insured
Amount which shall be due and owing on the applicable Payment Date.

 

“Permanent Regulation S Global Notes” means the
Permanent Regulation S Global Notes substantially in the form of Exhibit A-3.

 

“Qualified Institutional Buyers” shall have the
meaning set forth in Section 206.

 

“Rating Agency” means, for Series 2010-2,
S&P.

 

“Regulation S” shall have the meaning set
forth in Section 206 hereof.

 

“Regulation S Global Notes” means,
collectively, the Temporary Regulation S Global Notes and the Permanent
Regulation S Global Notes

 

“Rule 144A” shall have the meaning set
forth in Section 206 hereof.

 

“S&P” means Standard &
Poor’s Ratings Services, a division of The McGraw Hill Companies, Inc.,
and any successor thereto.

 

“Scheduled Principal Payment Amount” means, for the
Series 2010-2 Notes for any Payment Date, the excess, if any, of (x) the
then Aggregate Series 2010-2 Note Principal Balance (after giving effect
to any payment of the Minimum Principal Payment Amount for the Series 2010-2
Notes actually paid on such Payment Date), over (y) the Scheduled Targeted
Principal Balance for the Series 2010-2 Notes for such Payment Date.

 

“Scheduled Targeted Principal Balance” means, for the
Series 2010-2 Notes for any Payment Date, the amount set forth opposite
such Payment Date on Schedule 1 hereto under the column titled “Scheduled
Targeted Principal Balance”, as the amounts on Schedule 1 hereto may be amended
from time to time in accordance with the provisions of the Indenture.

 

“Securities Act” means the Securities Act of
1933, as amended.

 

“Series 2010-2” means the Series of
Notes the terms of which are specified in this Supplement.

 

“Series 2010-2 Expected Final Maturity Date” means the
Payment Date in October, 2020.

 

6

 

“Series 2010-2 Legal Final Maturity Date” means the
Payment Date in October, 2025.

 

“Series 2010-2 Note” means any one
of the notes issued pursuant to the terms of Section 201(a) of this
Supplement, substantially in the form of any of Exhibit A-1, A-2, A-3 or
A-4 to this Supplement.

 

“Series 2010-2 Note Interest Payment”  means, for each Series 2010-2 Note on
each Payment Date, an amount equal to the product of (i) four and
three-tenths of one percent (4.30)%, (ii) the Series 2010-2 Note
Principal Balance on the immediately preceding Payment Date and (iii) a
fraction, the numerator of which is the actual number of days elapsed in such
Interest Accrual Period and the denominator of which is 360.

 

“Series 2010-2 Note Principal Balance” means, with
respect to any Series 2010-2 Note as of any date of determination, an
amount equal to the excess, if any, of (x) the Series 2010-2 Note
Principal Balance of such Series 2010-2 Note as of the 2010-2 Closing
Date, over (y) the cumulative amount of all Minimum Principal Payment
Amounts, Scheduled Principal Payment Amounts and any other principal payments
(including Prepayments) actually paid to the related Series 2010-2
Noteholder subsequent to the 2010-2 Closing Date.

 

“Series 2010-2 Note Purchase Agreement” means the Series 2010-2
Note Purchase Agreement, dated as of October 19, 2010, among the Issuer,
the Manager and the Initial Purchaser.

 

“Series 2010-2 Noteholder” means, at any
time of determination for the Series 2010-2 Notes, any Person in whose
name a Series 2010-2 Note is registered in the Note Register.

 

“Series 2010-2 Series Account” means the
account of that name established in accordance with Section 301 hereof.

 

“Series 2010-2 Transaction Documents” means any and
all of the Indenture, this Supplement, the Series 2010-2 Notes, the Series 2010-2
Note Purchase Agreement, the Management Agreement, the Contribution and Sale
Agreement, the Transition Agent Agreement, any Hedge Agreement and all other
Transaction Documents and any and all other agreements, documents and
instruments executed and delivered by or on behalf or in support of the Issuer
with respect to the issuance and sale of the Series 2010-2 Notes, as any
of the foregoing may from time to time be amended, modified, supplemented or
renewed.

 

“Temporary Regulation S Global Notes” means the
Temporary Regulation S Global Notes substantially in the form of Exhibit A-2.

 

“Transferor” shall have the meaning set
forth in Section 206 hereof.

 

“U.S. Person” shall have the meaning set
forth in Section 206 hereof.

 

(b)           Capitalized terms
used herein and not otherwise defined shall have the meaning set forth in
Appendix A to the Indenture or, if not defined therein, as defined in the 

 

7

 

Series 2010-2 Note
Purchase Agreement.  The rules of
usage set forth in such Appendix A shall apply to this Supplement.

 

ARTICLE II

 

Creation
of the Series 2010-2 Notes

 

Section 201.           Designation.  (a)  There is hereby created a Series of
Notes to be issued in one Class pursuant to the Indenture and this
Supplement to be known respectively as “TAL Advantage IV LLC Series 2010-2
Fixed Rate Secured Notes”.  The Series 2010-2
Notes will be issued in the initial aggregate principal balance of Two Hundred
and Three Million Dollars ($203,000,000) and will not have priority over any
other Series, except to the extent set forth in the Supplement for such other
Series.  The issuance date of the Series 2010-2
Notes is October 19, 2010.

 

(b)           The Payment Date
with respect to the Series 2010-2 Notes shall be the twentieth (20th) calendar day of each month, or, if such day is not a Business Day, the
immediately following Business Day, commencing November 22, 2010 .

 

(c)           Payments of
principal and interest on the Series 2010-2 Notes shall be payable from
funds on deposit in the Series 2010-2 Series Account or otherwise at
the times and in the amounts set forth in Article III of the Indenture and
Article III of this Supplement.

 

(d)           The Series 2010-2
Notes are classified as “Term Notes”, as such term is used in the
Indenture.  The Existing Commitment as
such term is used in the Indenture, for the 2010-2 Notes, shall at all times be
equal to the Aggregate Series 2010-2 Note Principal Balance as of such
date of determination.

 

(e)           In the event that
any term or provision contained herein shall conflict with or be inconsistent
with any term or provision contained in the Indenture, the terms and provisions
of this Supplement shall govern.

 

Section 202.           Authentication
and Delivery.

 

(a)           On the 2010-2
Closing Date, the Issuer shall sign, and shall direct the Indenture Trustee in
writing pursuant to Section 201 of the Indenture to duly authenticate, and
the Indenture Trustee, upon receiving such direction, (i) shall authenticate
(by manual or facsimile signature), subject to compliance with the conditions
precedent set forth in Section 501 hereof, the Series 2010-2 Notes in
accordance with such written directions, and (ii) subject to compliance
with the conditions precedent set forth in Section 501 hereof, shall deliver such Series 2010-2
Notes to the Initial Purchaser in accordance with such written directions.

 

(b)           In accordance with
Section 202 of the Indenture, the Series 2010-2 Notes sold in
reliance on Rule 144A shall be represented by one or more Rule 144A
Global Notes.  Any Series 2010-2
Notes sold in reliance on Regulation S shall be represented by one or more
Regulation S Global Notes.  Any Series 2010-2
Notes sold to Institutional Accredited Investors shall be represented by one or
more Definitive Notes.

 

8

 

(c)           The Series 2010-2
Notes shall be executed by manual or facsimile signature on behalf of the
Issuer by any authorized officer or manager of the Issuer and shall be
substantially in the forms of Exhibit A-1, A-2, A-3 and A-4 hereto, as
applicable.

 

(d)           The Series 2010-2
Notes shall be issued in minimum denominations of $250,000 and in integral
multiples of $1,000 in excess thereof.

 

Section 203.           Interest
Payments on the Series 2010-2 Notes.

 

(a)           Interest on Series 2010-2
Notes.  Interest will be due
and payable on each Series 2010-2 Note in an amount equal to the Series 2010-2
Note Interest Payment.  Such Series 2010-2
Note Interest Payment shall be payable on each Payment Date from amounts on
deposit in the Series 2010-2 Series Account in accordance with Section 303
hereof.  To the extent that the amount of
interest which is due and payable on any Payment Date is not paid in full on
such date, such shortfall, together with interest thereon at the interest rate
otherwise applicable thereto plus the Default Rate, shall be due and payable on
the immediately succeeding Payment Date.

 

(b)           Interest on
Overdue Amounts.  If the Issuer shall default in the payment of
(i) the unpaid principal balance of any Series 2010-2 Notes on the Series 2010-2
Legal Final Maturity Date, (ii) the Series 2010-2 Note Interest
Payment on any Series 2010-2 Note when due, or (iii) following the
acceleration of the Series 2010-2 Notes in accordance with the terms of
the Indenture, any other amount owing under the Indenture not covered in
clauses (i) and (ii) which is not paid when due, the Issuer shall
from time to time, pay interest on such unpaid amounts, to the extent permitted
by Applicable Law, to, but not including, the date of actual payment (after as
well as before judgment), at a rate per annum equal to the interest rate
otherwise applicable thereto plus the Default Rate, for the period during which
such principal, interest or other amount shall be unpaid from the due date of
such payment to, but not including, the date of actual payment thereof.  Any such Default Fees shall be payable at the
times and subject to the priorities set forth in Section 303 hereof.

 

(c)           Maximum
Interest Rate.  In no event shall the interest charged with
respect to a Series 2010-2 Note exceed the maximum amount permitted by
Applicable Law.  If at any time the
interest rate charged with respect to the Series 2010-2 Notes exceeds the
maximum rate permitted by Applicable Law, the rate of interest to accrue
pursuant to this Supplement and such Series 2010-2 Note shall be limited
to the maximum rate permitted by Applicable Law.

 

Section 204.           Principal
Payments on the Series 2010-2 Notes.  The principal balance of the Series 2010-2
Notes shall be payable on each Payment Date from amounts on deposit in the Series 2010-2
Series Account in an amount equal to (i) so long as no Early
Amortization Event is continuing, the sum of the Minimum Principal Payment
Amount and the Scheduled Principal Payment Amount for such Payment Date, to the
extent that funds are available for such purpose in accordance with the
provisions of part I of Section 302 hereof, or (ii) if an Early
Amortization Event is then continuing (or an Event of Default has occurred, but
the Series 2010-2 Notes have not been accelerated in accordance with the
provisions of Section 802 of the Indenture), the sum of the Minimum
Principal Payment Amount, the Scheduled Principal Payment Amount and then
unpaid Aggregate Series 2010-2 Note Principal Balance shall be payable in
full to the extent that funds are available for such purposes in accordance
with 

 

9

 

the provisions of Part (II) of Section 303
hereof.  The unpaid principal amount of
each Series 2010-2 Note together with all unpaid interest (including all
Default Fees), fees, expenses, costs and other amounts payable by the Issuer to
the Series 2010-2 Noteholders and the Indenture Trustee pursuant to the
terms of the Indenture and this Supplement, shall be due and payable in full on
the earlier to occur of (x) the date on which an Event of Default shall
occur and the Series 2010-2 Notes have been accelerated in accordance with
the provisions of Section 802 of the Indenture and (y) the Series 2010-2
Legal Final Maturity Date.

 

Section 205.           Prepayment
of Principal on the Series 2010-2 Notes.

 

(a)           The Aggregate Series 2010-2
Note Principal Balance of the Series 2010-2 Notes shall be required to be
prepaid at the time and in the amount of a Supplemental Principal Payment
Amount allocated to Series 2010-2 in accordance with Section 702(a) of
the Indenture.

 

(b)           On the Payment
Date occurring in November 2013 and on each Payment Date thereafter, the
Issuer will have the option to prepay, all, or a portion of, the Aggregate Series 2010-2
Note Principal Balance of the Series 2010-2 Notes in a minimum amount of
One Hundred Thousand Dollars ($100,000). 
The Issuer shall not prepay the Aggregate Series 2010-2 Note
Principal Balance of the Series 2010-2 Notes prior to the Payment Date
occurring in November 2013; provided, however, that nothing contained herein shall prohibit any
allocation to the Series 2010-2 Noteholders of Supplemental Principal
Payment Amounts in accordance with the terms of the Indenture on any Payment
Date.  Any such Prepayment of all, or a
portion of, the Aggregate Series 2010-2 Note Principal Balance shall also
include accrued interest to the date of Prepayment on the principal balance
being prepaid.  The Issuer may not make
such Prepayment from funds in the Trust Account, the Series 2010-2 Series Account
or the Restricted Cash Account, except to the extent that funds in any such
account would otherwise be payable to the Issuer or available to prepay the
Aggregate Series 2010-2 Note Principal Balance in accordance with the
terms of the Indenture and this Supplement.

 

(c)           In the event of
any prepayment of the Series 2010-2 Notes in accordance with this Section 205
or any other provision of the Indenture, the Issuer shall pay any termination,
notional reduction, breakage or other fees or costs assessed by any Hedge
Counterparty.

 

(d)           The Issuer shall
provide not less than five (5) Business Days prior written notice of
any Prepayment to the Indenture Trustee, and the Indenture Trustee shall
promptly forward a copy of such notice to the Series 2010-2 Noteholders.

 

Section 206.           Restrictions
on Transfer.  (a) 
On the 2010-2 Closing Date, the Issuer shall sell the Series 2010-2 Notes
to the Initial Purchaser pursuant to the Series 2010-2 Note Purchase
Agreement and deliver such Series 2010-2 Notes in accordance herewith and
therewith.  Thereafter, no Series 2010-2
Note may be sold, transferred or otherwise disposed of except in compliance
with the provisions of the Indenture and except as follows:

 

(A)          to
Persons that the transferring Person reasonably believes are Qualified
Institutional Buyers in reliance on the exemption from the registration
requirements of the Securities Act provided by Rule 144A promulgated
thereunder (“Rule 144A”);

 

10

 

(B)           in
offshore transactions in reliance on Regulation S under the Securities Act (“Regulation S”);

 

(C)           to
institutional “accredited investors” within the meaning of Rule 501(a)(1),
(2), (3) or (7) of Regulation D under the Securities Act (“Institutional Accredited Investors”) that
take delivery of such Series 2010-2 Note in an amount of at least $250,000
and that deliver an Investment Letter substantially in the form of Exhibit C
to the Indenture to the Indenture Trustee; or

 

(D)          to
a Person who is taking delivery of such Series 2010-2 Notes pursuant to a
transaction that is otherwise exempt from the registration requirements of the
Securities Act, as confirmed in an Opinion of Counsel by such Person or its
transferor addressed to the Indenture Trustee and the Issuer, which counsel and
opinion are satisfactory to the Indenture Trustee and the Issuer.

 

The
Indenture Trustee shall have no obligations or duties with respect to
determining whether any transfers of the Series 2010-2 Notes are made in
accordance with the Securities Act or any other law; provided that with respect to Definitive Notes, the
Indenture Trustee shall enforce the applicable transfer restrictions in
accordance with the terms set forth in this Section 206(a).

 

(b)           Each purchaser
(other than the Initial Purchaser) of the Series 2010-2 Notes (including
any purchaser, other than the Initial Purchaser, of an interest in the Series 2010-2
Notes which are Global Notes) shall be deemed to have acknowledged and agreed
as follows:

 

(i)            It is (A) a qualified
institutional buyer as defined in Rule 144A (“Qualified Institutional Buyer”) and is acquiring such Series 2010-2
Notes for its own institutional account or for the account or accounts of a
Qualified Institutional Buyer or (B) purchasing such Series 2010-2
Notes in a transaction exempt from registration under the Securities Act and in
compliance with the provisions of this Supplement and in compliance with the
legend set forth in clause (iv) below
or (C) not a U.S. Person as defined in Regulation S (a “U.S. Person”) and
is acquiring such Series 2010-2 Notes outside of the United States.

 

(ii)           It is purchasing one or more Series 2010-2
Notes in an amount of at least $250,000 and it understands that such Series 2010-2
Notes may be resold, pledged or otherwise transferred only in an amount of at
least $250,000.

 

(iii)          It represents and warrants to the
Issuer, the Indenture Trustee and the Initial Purchaser, that either (i) it
is not acquiring the Series 2010-2 Note with the plan assets of a Benefit
Plan or any other plan that is subject to a law that is similar to Title I of
ERISA or Section 4975 of the Code or (ii) the acquisition, holding
and disposition of the Series 2010-2 Note will not give rise to a
non-exempt prohibited transaction under Section 406 of ERISA, Section 4975
of the Code or any similar applicable law.

 

(iv)          It understands that the Series 2010-2
Notes are being transferred to it in a transaction not involving any public
offering within the meaning of the Securities Act, and that, if in the future
it decides to resell, pledge or otherwise 

 

11

 

transfer
any Series 2010-2 Notes, such Series 2010-2 Notes may be resold,
pledged or transferred only in accordance with applicable state securities laws
and (1) in a transaction meeting the requirements of Rule 144A, to a
Person that the seller reasonably believes is a Qualified Institutional Buyer
that purchases for its own account (or for the account or accounts of a
Qualified Institutional Buyer) and to whom notice is given that the resale,
pledge or transfer is being made in reliance on Rule 144A, or (2) (A) to
a Person that is an Institutional Accredited Investor, is taking delivery of
such Series 2010-2 Notes in an amount of at least $250,000, and delivers
an Investment Letter to the Indenture Trustee or (B) to a Person that is
taking delivery of such Series 2010-2 Notes pursuant to a transaction that
is otherwise exempt from the registration requirements of the Securities Act,
as confirmed in an opinion of counsel addressed to the Indenture Trustee, the
Issuer and the transferor, which counsel and opinion are satisfactory to the
Indenture Trustee, the Issuer and the transferor, or (3) in an offshore
transaction in accordance with Rule 903 or 904 of Regulation S.

 

(v)           It is not a Competitor.

 

(vi)          It understands that each Series 2010-2
Note shall bear a legend substantially to the following effect:

 

[For Book-Entry Notes Only: UNLESS
THIS SERIES 2010-2 NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE TRANSFEROR OF
SUCH NOTE (THE “TRANSFEROR”) OR ITS AGENT FOR REGISTRATION OF TRANSFER,
EXCHANGE OR PAYMENT, AND ANY SERIES 2010-2 NOTE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE &
CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF
DTC), ANY TRANSFER, PLEDGE OR THE USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE &
CO., HAS AN INTEREST HEREIN.]

 

THIS SERIES 2010-2 NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). THE HOLDER HEREOF, BY
PURCHASING THIS SERIES 2010-2 NOTE, AGREES THAT SUCH SERIES 2010-2 NOTE MAY BE
RESOLD, PLEDGED OR TRANSFERRED ONLY IN ACCORDANCE WITH ANY APPLICABLE STATE
SECURITIES LAWS AND (1) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE
144A UNDER THE SECURITIES ACT (“RULE 144A”), TO A PERSON THAT THE SELLER
REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER THAT PURCHASES FOR ITS
OWN ACCOUNT (OR FOR THE ACCOUNT OR ACCOUNTS OF A 

 

12

 

QUALIFIED INSTITUTIONAL BUYER) AND TO WHOM NOTICE IS GIVEN THAT THE
RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, OR (2) IN
AN OFFSHORE TRANSACTION COMPLYING WITH RULE 903 OR RULE 904 OF REGULATION S
UNDER THE SECURITIES ACT OR (3) TO A PERSON (A) THAT IS AN
INSTITUTIONAL “ACCREDITED INVESTOR,” WITHIN THE MEANING OF RULE 501(a)(1), (2),
(3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT, IS TAKING
DELIVERY OF SUCH SERIES 2010-2 NOTE IN AN AMOUNT OF AT LEAST $250,000 AND DELIVERS A PURCHASER LETTER TO THE INDENTURE
TRUSTEE IN THE FORM ATTACHED TO THE SUPPLEMENTS OR (B) THAT IS TAKING
DELIVERY OF SUCH SERIES 2010-2 NOTE PURSUANT TO A TRANSACTION THAT IS OTHERWISE
EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, AS CONFIRMED
IN AN OPINION OF COUNSEL ADDRESSED TO THE INDENTURE TRUSTEE AND THE ISSUER,
WHICH COUNSEL AND OPINION ARE SATISFACTORY TO THE ISSUER AND THE INDENTURE
TRUSTEE.

 

EACH PURCHASER AND TRANSFEREE OF A SERIES 2010-2 NOTE WILL BE DEEMED TO
REPRESENT AND WARRANT THAT EITHER (I) IT IS NOT ACQUIRING THE SERIES
2010-2 NOTE WITH THE PLAN ASSETS OF AN “EMPLOYEE BENEFIT PLAN” AS DEFINED IN SECTION 3(3) OF
THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”),
WHICH IS SUBJECT TO THE PROVISIONS OF TITLE I OF ERISA, A “PLAN” DESCRIBED IN SECTION 4975(e)(1) OF
THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), AN ENTITY WHOSE
UNDERLYING ASSETS INCLUDE “PLAN ASSETS” OF ANY OF THE FOREGOING BY REASON OF AN
EMPLOYEE BENEFIT PLAN’S OR PLAN’S INVESTMENT IN SUCH ENTITY, OR ANY OTHER PLAN
THAT IS SUBJECT TO A LAW THAT IS SIMILAR TO TITLE I OF ERISA OR SECTION 4975
OF THE CODE OR (II) THE ACQUISITION, HOLDING AND DISPOSITION OF THE SERIES
2010-2 NOTE WILL NOT GIVE RISE TO A NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406
OF ERISA, SECTION 4975 OF THE CODE OR ANY SIMILAR APPLICABLE LAW.

 

THIS SERIES 2010-2 NOTE IS NOT GUARANTEED OR INSURED BY ANY
GOVERNMENTAL AGENCY OR INSTRUMENTALITY.

 

(vii)         Each investor described in Section 206(a)(B) understands
that the Series 2010-2 Notes have not and will not be registered under the
Securities Act, that any offers, sales or deliveries of the Series 2010-2
Notes purchased by it in the United States or to U.S. Persons prior to the date
that is 40 days after the later of (i) the commencement of the
distribution of the Series 2010-2 Notes and (ii) the 2010-2 Closing
Date, may constitute a violation of United States law, and that 

 

13

 

distributions
of principal and interest will be made in respect of such Notes only following
the delivery by the holder of a certification of non-U.S. beneficial ownership
or the exchange of beneficial interest in Temporary Regulation S Global Notes
for beneficial interests in the related Permanent Regulation S Global
Notes  (which in each case will itself
require a certification of non-U.S. beneficial ownership), at the times and in
the manner set forth in this Supplement.

 

(viii)        The Temporary Regulation S Global Notes
representing the Series 2010-2 Notes sold to each investor described in Section 206(a)(B) will
bear a legend to the following effect, unless the Issuer determines otherwise
consistent with Applicable Law:

 

[FOR REGULATION S GLOBAL NOTES ONLY:

 

EACH INVESTOR PURCHASING THIS SERIES 2010-2 NOTE IN RELIANCE
UPON REGULATION S OF THE SECURITIES ACT UNDERSTANDS THAT THE SERIES 2010-2
NOTES HAVE NOT AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT, THAT ANY
OFFERS, SALES OR DELIVERIES OF THE SERIES 2010-2 NOTES PURCHASED BY IT IN THE
UNITED STATES OR TO U.S. PERSONS (AS DEFINED IN REGULATION S UNDER THE
SECURITIES ACT) PRIOR TO THE DATE THAT IS 40 DAYS AFTER THE LATER OF (I) THE
COMMENCEMENT OF THE DISTRIBUTION OF THE SERIES 2010-2 NOTES AND (II) THE
CLOSING DATE, MAY CONSTITUTE A VIOLATION OF UNITED STATES LAW, AND THAT
DISTRIBUTIONS OF PRINCIPAL AND INTEREST WILL BE MADE IN RESPECT OF SUCH SERIES
2010-2 NOTES ONLY FOLLOWING THE DELIVERY BY THE HOLDER OF A CERTIFICATION
OF  NON-U.S. BENEFICIAL OWNERSHIP OR THE
EXCHANGE OF BENEFICIAL INTEREST IN REGULATION S TEMPORARY GLOBAL NOTES FOR
BENEFICIAL INTERESTS IN THE RELATED UNRESTRICTED BOOK ENTRY NOTES (WHICH IN
EACH CASE WILL ITSELF REQUIRE A CERTIFICATION OF NON-U.S. BENEFICIAL
OWNERSHIP), AT THE TIMES AND IN THE MANNER SET FORTH IN THE INDENTURE.]

 

(ix)           The Indenture Trustee shall not
permit the transfer of any Series 2010-2 Notes unless such transfer
complies with the terms of the foregoing legends and, in the case of a transfer
(i) to an Institutional Accredited Investor (other than a Qualified
Institutional Buyer), the transferee delivers a completed Investment Letter to
the Indenture Trustee, or (ii) to a Person other than a Qualified
Institutional Buyer or an Institutional Accredited Investor, upon delivery of
an Opinion of Counsel satisfactory to the Indenture Trustee, the Issuer and the
Transferor, to the effect that the transferee is taking delivery of the Series 2010-2
Notes in a transaction that is otherwise exempt from the registration
requirements of the Securities Act, which counsel and opinion are satisfactory
to the Indenture Trustee, the Issuer and the Transferor.

 

14

 

(c)           Forms
substantially in the form of Exhibit(s) B through F, as appropriate, shall
be completed in connection with any transfer of the Series 2010-2 Notes.

 

ARTICLE III

 

Series 2010-2
Series Account and

Allocation and Application of Amounts Therein; Policy

 

Section 301.           Series 2010-2
Series Account.  The Issuer
shall establish on the 2010-2 Closing Date and maintain, so long as any Series 2010-2
Note is Outstanding, an Eligible Account in the name of the Issuer with the
Indenture Trustee which shall be designated as 
the Series 2010-2 Series Account, which account shall be
pledged to the Indenture Trustee for the benefit of the Series 2010-2
Noteholders pursuant to the Indenture and this Supplement.  All deposits of funds by or for the benefit
of the Series 2010-2 Noteholders from the Trust Account and the Restricted
Cash Account, shall be accumulated in, and withdrawn from, the Series 2010-2
Series Account in accordance with the provisions of the Indenture and this
Supplement.

 

Section 302.           Investment
of Funds.  Any funds
on deposit in the Series 2010-2 Series Account shall be invested in
the same manner as the funds deposited and held in the Trust Account.

 

Section 303.           Distributions
from Series 2010-2 Series Account.  On each Payment Date and on each other date
on which any payment is to be made with respect to the Series 2010-2 Notes
in accordance with Sections 203, 204 or 205 hereof, based on the Manager Report
(upon which the Indenture Trustee may conclusively rely) the Indenture Trustee
shall distribute funds then on deposit in the Series 2010-2 Series Account
in accordance with the provisions of either subsection (I), (II) or (III) of
this Section 303.

 

(I)            If neither an Early Amortization
Event nor an Event of Default shall have occurred and be continuing:

 

(1)           To each Holder of a Series 2010-2 Note on the
immediately preceding Record Date, on a pro rata basis
an amount equal to its Series 2010-2 Note Interest Payment (exclusive of
Default Fees) for such Payment Date;

 

(2)           To each Holder of a Series 2010-2 Note on the
immediately preceding Record Date, an amount equal to its pro rata portion of the Minimum Principal
Payment Amount then due and payable to the Holders of the Series 2010-2
Notes on such Payment Date;

 

(3)           To each Holder of a Series 2010-2 Note on the
immediately preceding Record Date, an amount equal to its pro rata portion of the Scheduled
Principal Payment Amount then due and payable to the Holders of the Series 2010-2
Notes on such Payment Date;

 

(4)           To each Holder of a Series 2010-2 Note on the
immediately preceding Record Date, an amount equal to its pro rata portion of the Supplemental
Principal Payment Amount, if any, allocable to the Series 2010-2 Notes on
such Payment Date;

 

15

 

(5)           To each Series 2010-2 Noteholder on the immediately
preceding Record Date, on a pro rata basis
an amount equal to Default Fees (if any) then due and payable pursuant to the Series 2010-2
Transaction Documents; and

 

(6)           After application of the amounts required to be paid
pursuant to Section 302 of the Indenture, to the Issuer or its assigns,
any remaining amounts then on deposit in the Series 2010-2 Series Account.

 

(II)           If an Early Amortization Event shall
have occurred and be continuing with respect to any Series but no Event of
Default shall have occurred and be continuing (or an Event of Default has
occurred but the Notes have not been accelerated in accordance with Section 802
of the Indenture):

 

(1)           To each Holder of a Series 2010-2 Note on the
immediately preceding Record Date, on a pro rata basis
an amount equal to its Series 2010-2 Note Interest Payment (exclusive of
Default Fees) for such Payment Date;

 

(2)           To each Holder of a Series 2010-2 Note on the
immediately preceding Record Date, an amount equal to its pro rata portion of the Minimum Principal
Payment Amount then due and payable to the Holders of the Series 2010-2
Notes on such Payment Date;

 

(3)           To each Holder of a Series 2010-2 Note on the
immediately preceding Record Date, an amount equal to its pro rata portion of the Scheduled
Principal Payment Amount then due and payable to the Holders of the Series 2010-2
Notes on such Payment Date;

 

(4)           To each Holder of a Series 2010-2 Note on the
immediately preceding Record Date, an amount equal to its pro rata portion of the then Aggregate Series 2010-2
Note Principal Balance until the Aggregate Series 2010-2 Note Principal
Balance has been reduced to zero;

 

(5)           To each Holder of a Series 2010-2 Note on the
immediately preceding Record Date, pro rata (based
on respective amounts due), an amount equal to all Default Fees then due and
payable by the Issuer to the Series 2010-2 Noteholders pursuant to the Series 2010-2
Transaction Documents; and

 

(6)           After application of the amounts required to be paid
pursuant to Section 302 of the Indenture, to the Issuer or its assigns,
any remaining amounts then on deposit in the Series 2010-2 Series Account.

 

(III)         If an Event of Default shall have
occurred and be continuing and the Notes of any Series have been declared
due and payable and such declaration and its consequences have not been
rescinded or annulled:

 

(1)           To each Holder of a Series 2010-2 Note on the
immediately preceding Record Date, on a pro rata basis
an amount equal to its Series 2010-2 Note Interest Payment (exclusive of
Default Fees) then due and payable for such Payment Date to the Holders of the Series 2010-2
Notes;

 

16

 

(2)           To each Holder of a Series 2010-2 Note on the
immediately preceding Record Date on a pro
rata basis, an amount equal to the Aggregate Series 2010-2 Note
Principal Balance until the Aggregate Series 2010-2 Note Principal Balance
has been reduced to zero;

 

(3)           To each Holder of a Series 2010-2 Note on the
immediately preceding Record Date, pro rata (based
on respective amounts due), an amount equal to all Default Fees then due and
payable by the Issuer to the Series 2010-2 Noteholders pursuant to the Series 2010-2
Transaction Documents; and

 

(4)           After application of the amounts required to be paid
pursuant to Section 302 of the Indenture, to the Issuer or its assigns,
any remaining amounts then on deposit in the Series 2010-2 Series Account.

 

Any
amounts payable to a Series 2010-2 Noteholder pursuant to this Section 303
shall be made by wire transfer of immediately available funds to the account
that such Series 2010-2 Noteholder has designated to the Indenture Trustee
in writing at least five Business Days prior to the applicable Payment
Date.  Any amounts payable by the Issuer
hereunder are contingent upon the availability of funds to make such payment in
accordance with the provisions of this Section 303 and, to the extent such
funds are not available, shall not constitute a “Claim” (as defined in Section 101(5) of
the Bankruptcy Code) against the Issuer in any bankruptcy, reorganization,
arrangement, insolvency or liquidation proceedings involving the Issuer in the
event that such amounts are not paid in accordance with Section 303 of
this Supplement.

 

ARTICLE IV

 

[Reserved]

 

ARTICLE V

 

Conditions
to Issuance

 

Section 501.           Conditions
to Issuance.  The
Indenture Trustee shall not authenticate the Series 2010-2 Notes unless (i) all
conditions to the issuance of the Series 2010-2 Notes under the Series 2010-2
Note Purchase Agreement shall have been satisfied, and (ii) the Issuer
shall have delivered a certificate to the Indenture Trustee to the effect that
all conditions set forth in the Series 2010-2 Note Purchase Agreement
shall have been satisfied.

 

ARTICLE VI

 

Representations
and Warranties

 

To
induce the Series 2010-2 Noteholders to purchase the Series 2010-2
Notes hereunder, the Issuer hereby represents and warrants as of the 2010-2
Closing Date to the Indenture Trustee for the benefit of the Series 2010-2
Noteholders that:

 

Section 601.           Existence.  The Issuer is a limited liability company
duly organized, validly existing and in compliance under the laws of Delaware.  The Issuer is in good 

 

17

 

standing and is duly qualified to do business in
each jurisdiction where the failure to do so would reasonably be expected to
have a material adverse effect upon the Issuer, and has all licenses, permits,
charters and registrations the failure to hold which would reasonably be
expected to have a material adverse effect on the Issuer.

 

Section 602.           Authorization.  The Issuer has the power and is duly
authorized to execute and deliver this Supplement and the other Series 2010-2
Transaction Documents to which it is a party; the Issuer is and will continue
to be duly authorized to borrow monies hereunder and under the Indenture; and
the Issuer is and will continue to be authorized to perform its obligations
under the Indenture, this Supplement and the other Series 2010-2
Transaction Documents.  The execution,
delivery and performance by the Issuer of this Supplement and the other Series 2010-2
Transaction Documents to which it is a party and the borrowings hereunder do
not and will not require any consent or approval of any Governmental Authority,
stockholder or any other Person which has not already been obtained.

 

Section 603.           No
Conflict; Legal Compliance.  The execution, delivery and performance of
this Supplement and each of the other Series 2010-2 Transaction Documents
and the execution, delivery and payment of the Series 2010-2 Notes will
not: (a) contravene any provision of the Issuer’s charter documents,
by-laws or other organizational documents; (b) contravene, conflict with
or violate any Applicable Law or regulation, or any order, writ, judgment,
injunction, decree, determination or award of any Governmental Authority; or
(c) violate or result in the breach of, or constitute a default under the
Indenture, this Supplement, the other Series 2010-2 Transaction Documents,
any other indenture or other loan or credit agreement, or other agreement or
instrument to which the Issuer is a party or by which the Issuer, or its
property and assets may be bound or affected. 
The Issuer is not in violation or breach of or default under any law,
rule, regulation, order, writ, judgment, injunction, decree, determination or
award or any contract, agreement, lease, license, indenture or other instrument
to which it is a party, in each case, in a manner that would reasonably be
expected to result in a Material Adverse Change.

 

Section 604.           Validity
and Binding Effect.  This
Supplement is, and each Series 2010-2 Transaction Document to which the Issuer
is a party, when duly executed and delivered, will be, the legal, valid and
binding obligations of the Issuer, enforceable against the Issuer in accordance
with its terms, except as enforceability may be limited by bankruptcy,
insolvency or other similar laws of general application affecting the
enforcement of creditors’ rights or by general principles of equity limiting
the availability of equitable remedies.

 

Section 605.           Financial
Conditions.  Since December 31, 2009, there
has been no Material Adverse Change in the financial condition of the Issuer.

 

Section 606.           Place
of Business.  The Issuer’s
only “place of business” (within the meaning of Section 9-307 of the UCC)
is located at its address determined in accordance with Section 1307 of
the Indenture.

 

Section 607.           No
Agreements or Contracts.  The
Issuer is not now and has not been a party to any contract or agreement
(whether written or oral) other than the Series 2010-2 Transaction
Documents and the Transaction Documents (as defined in the Indenture).

 

18

 

Section 608.           Consents
and Approvals.  No
approval, authorization or consent of any trustee or holder of any Indebtedness
or obligation of the Issuer or of any other Person under any agreement, contract,
lease or license or similar document or instrument to which the Issuer is a
party or by which the Issuer is bound, is required to be obtained by the Issuer
in order to make or consummate the transactions contemplated under the Series 2010-2
Transaction Documents, except for those approvals, authorizations and consents
that have been obtained on or prior to the 2010-2 Closing Date or which the
failure to obtain would not reasonably be expected to result in a Material
Adverse Change.  All consents and
approvals of, filings and registrations with, and other actions in respect of,
all Governmental Authorities required to be obtained by the Issuer in order to
make or consummate the transactions contemplated under the Series 2010-2
Transaction Documents have been, or prior to the time when required will have
been, obtained, given, filed or taken and are or will be in full force and
effect other than any such consents, approvals, filings or registrations the
failure to so obtain or make would not reasonably be expected to result in a
Material Adverse Change.

 

Section 609.           Margin
Regulations.  The Issuer
does not own any “margin security”, as that term is defined in Regulation U of
the Federal Reserve Board, and the proceeds of the Series 2010-2 Notes
issued under this Supplement will be used only for the purposes contemplated
hereunder. None of such proceeds will be used, directly or indirectly, for the
purpose of purchasing or carrying any margin security, for the purpose of
reducing or retiring any Indebtedness which was originally incurred to purchase
or carry any margin security or for any other purpose which might cause any of
the loans under this Supplement to be considered a “purpose credit” within the
meaning of Regulations T, U and X.  The
Issuer will not take or permit any agent acting on its behalf to take any
action which might cause this Supplement or any document or instrument
delivered by the Issuer pursuant hereto to violate any regulation of the
Federal Reserve Board.

 

Section 610.           Taxes.  All federal, state, local and foreign tax
returns, reports and statements required to be filed by the Issuer have been
filed with the appropriate Governmental Authorities, and all taxes and other
impositions shown thereon to be due and payable by the Issuer have been paid
prior to the date on which any fine, penalty, interest or late charge may be
added thereto for nonpayment thereof, or any such fine, penalty, interest, late
charge or loss has been paid, or the Issuer is contesting its liability
therefor in good faith and has fully reserved all such amounts according to
GAAP in the financial statements provided pursuant to Section 626 of the
Indenture.  The Issuer has paid when due
and payable all material charges upon the books of the Issuer and no
Governmental Authority has asserted any Lien against the Issuer with respect to
unpaid taxes. Proper and accurate amounts have been withheld by the Issuer from
its employees for all periods in full and complete compliance with the tax,
social security and unemployment withholding provisions of applicable federal,
state, local and foreign law and such withholdings have been timely paid to the
respective Governmental Authorities.

 

Section 611.           Other
Regulations.  The Issuer
is not an “investment company,” or an “affiliated person” of, or a “promoter”
or “principal underwriter” for, an “investment company,” as such terms are
defined in the Investment Company Act of 1940, as amended. The issuance of the Series 2010-2
Notes hereunder and the application of the proceeds and repayment thereof by
the Issuer and the performance of the transactions contemplated by the
Indenture, this Supplement and the other Series 2010-2 Transaction
Documents will not violate any provision of 

 

19

 

the Investment Company Act, or any rule, regulation
or order issued by the Securities and Exchange Commission thereunder.

 

Section 612.           Solvency
and Separateness.

 

(i)            The capital of the Issuer is
adequate for the business and undertakings of the Issuer.

 

(ii)           Other than with respect to the
transactions contemplated hereby, and by the other Series 2010-2
Transaction Documents and the Transaction Documents, the Issuer is not engaged
in any business transactions with the Manager except as permitted by the Management
Agreement or with the Seller except as permitted by the Contribution and Sale
Agreement.

 

(iii)          At all times, at least one (1) member
of the board of directors of the Issuer shall qualify as an Independent Manager
(as defined in the Issuer’s limited liability company agreement).

 

(iv)          The Issuer’s funds and assets are not,
and will not be, commingled with those of the Manager, except as permitted by
the Management Agreement.

 

(v)           The Issuer shall maintain (A) correct
and complete books and records of account, and (B) minutes of the meetings
and other proceedings of its board of managers.

 

(vi)          The Issuer is not insolvent under the
Insolvency Law and will not be rendered insolvent by the transactions
contemplated by the Series 2010-2 Transaction Documents and after giving
effect to such transactions, the Issuer will not be left with an unreasonably
small amount of capital with which to engage in its business nor will the
Issuer have intended to incur, or believe that it has incurred, debts beyond
its ability to pay such debts as they mature. 
The Issuer does not contemplate the commencement of insolvency,
bankruptcy, liquidation or consolidation Proceedings or the appointment of a
receiver, liquidator, trustee or similar official in respect of the Issuer or
any of its assets.

 

Section 613.           Survival
of Representations and Warranties.  So long as any of the Series 2010-2
Notes shall be Outstanding and until payment and performance in full of the
Outstanding Obligations, the representations and warranties contained herein
shall have a continuing effect as having been true when made.

 

Section 614.           No
Default.  No Event of Default or Early
Amortization Event has occurred and is continuing.  No event or condition that with notice or the
passage of time (or both) could reasonably be expected to constitute an Event
of Default or Early Amortization Event has occurred or is continuing.

 

Section 615.           Litigation
and Contingent Liabilities.  No claims, litigation, arbitration
proceedings or governmental proceedings by any Governmental Authority are
pending or threatened against or are affecting the Issuer the results of which
will materially and 

 

20

 

adversely interfere with the consummation of any of
the transactions contemplated by the Indenture, this Supplement or any document
issued or delivered in connection therewith or herewith.

 

Section 616.           Title;
Liens.  The Issuer has good, legal and
marketable title to each of its respective assets, and none of such assets is subject
to any Lien, except for Permitted Encumbrances and the Liens created or
permitted pursuant to the Indenture.

 

Section 617.           Subsidiaries.  The Issuer has no subsidiaries.

 

Section 618.           No
Partnership.  The Issuer
is not a partner or joint venturer in any partnership or joint venture.

 

Section 619.           Pension
and Welfare Plans.  During the
twelve-consecutive-month period prior to the date of the execution and delivery
of this Supplement, no steps have been taken to terminate any Plan, and no
contribution failure has occurred with respect to any Plan, sufficient to give
rise to a lien under section 302(f) of ERISA.  No condition exists or event or transaction,
has occurred with respect to any Plan which could result in the Issuer or any
ERISA Affiliate of the Issuer incurring any material liability, fine or
penalty.  As of the 2010-2 Closing Date,
the Issuer is not a Benefit Plan or any other plan that is subject to a law
that is similar to Title I of ERISA or Section 4975 of the Code.

 

Section 620.           Ownership
of the Issuer.  On the
2010-2 Closing Date, all of the issued and outstanding membership interests of
the Issuer are owned by TAL.

 

Section 621.           Security
Interest Representations.

 

(a)           This Supplement
and the Indenture create a valid and continuing security interest (as defined
in the UCC) in the Collateral in favor of the Indenture Trustee, for the
benefit of the Noteholders and any Hedge Counterparty, which security interest
is prior to all other Liens (other than Permitted Encumbrances), and is enforceable
as such as against creditors of and purchasers from the Issuer.

 

(b)           The Containers
constitute “goods” within the meaning of the applicable UCC.  The Leases constitute “tangible chattel paper”
within the meaning of the UCC.  The lease
receivables constitute “accounts” or “proceeds” of the Leases within the
meaning of the UCC.  The Trust Account,
the Restricted Cash Account and any Series Accounts constitute “securities
accounts” within the meaning of the UCC. 
The Issuer’s contractual rights under any Hedge Agreements, the
Contribution and Sale Agreement and the Management Agreement constitute “general
intangibles” within the meaning of the UCC.

 

(c)           The Issuer owns
and has good and marketable title to the Collateral, free and clear of any Lien
(whether senior, junior or pari passu),
claim or encumbrance of any Person, except for Permitted Encumbrances.

 

(d)           The Issuer has
caused the filing of all appropriate financing statements or documents of
similar import in the proper filing office in the appropriate jurisdictions
under Applicable Law in order to perfect the security interest in the
Collateral granted to the Indenture 

 

21

 

Trustee in this Supplement
and the Indenture and such security interest constitutes a perfected security
interest in favor of the Indenture Trustee. 
All financing statements filed against the Issuer in favor of the
Indenture Trustee in connection herewith describing the Collateral contain a statement
to the following effect: “A purchase or acquisition of a security interest in
any collateral described in this financing statement will violate the rights of
the Secured Party.”

 

(e)           Other than the
security interest granted to the Indenture Trustee pursuant to this Supplement
and the Indenture, the Issuer has not pledged, assigned, sold, granted a
security interest in, or otherwise conveyed any of the Collateral, except as
permitted pursuant to the Indenture.  The
Issuer has not authorized the filing of, and is not aware of, any financing
statements against the Issuer that include a description of collateral covering
the Collateral other than any financing statement or document of similar import
(i) relating to the security interest granted to the Indenture Trustee in
this Supplement or the Indenture or (ii) that has been terminated.  The Issuer has no actual knowledge of any
judgment or tax lien filings against the Issuer.

 

(f)            Pursuant to Section 3.3.5
of the Management Agreement, the Manager has acknowledged that it is holding
the Leases, to the extent they relate to the Managed Containers, on behalf of,
and for the benefit of, the Indenture Trustee. 
None of the Leases that constitute or evidence the Collateral has any
marks or notations indicating that they have been pledged, assigned or
otherwise conveyed to any Person.  The
Seller has caused the filing of all appropriate financing statements or
documents of similar import in the proper filing office in the appropriate
jurisdictions under Applicable Law in order to perfect the ownership interest
of the Issuer (and the Indenture Trustee as its assignee) in the Leases (to the
extent that such Leases relate to the Managed Containers) arising under the
Contribution and Sale Agreement.

 

(g)           The Issuer has
received all necessary consents and approvals required by the terms of the
Collateral to the pledge to the Indenture Trustee of its interest and rights in
such Collateral hereunder or under the Indenture.

 

(h)           Wells Fargo Bank,
National Association (in its capacity as securities intermediary) has
identified in its records the Indenture Trustee as the Person having a Security
Entitlement in each of the Trust Account, the Restricted Cash Account and any Series Accounts.

 

(i)            The Trust
Account, the Restricted Cash Account and any Series Accounts are not in
the name of any Person other than the Issuer. 
The Issuer has not consented for Wells Fargo Bank, National Association
(as the securities intermediary of the Trust Account, the Restricted Cash
Account and any Series Accounts) to comply with Entitlement Orders of any
Person other than the Indenture Trustee.

 

(j)            No creditor of
the Issuer (other than (x) with respect to the Managed Containers, the
related lessee and (y) the Manager in its capacity as Manager under the
Management Agreement) has in its possession any goods that constitute or
evidence the Collateral, other than for purposes of repair, refurbishment,
painting, positioning, storage and other similar matters with respect to
Managed Containers.

 

22

 

The
representations and warranties set forth in this Section 621 shall survive
until this Supplement is terminated in accordance with its terms and the terms
of the Indenture.  Any breaches of the
representations and warranties set forth in this Section 621 may be waived
by the Indenture Trustee, only with the prior written consent of the Control
Party and with the prior written notice to the Rating Agency.

 

ARTICLE VII

 

Miscellaneous
Provisions

 

Section 701.           Ratification
of Indenture.  As
supplemented by this Supplement, the Indenture is in all respects ratified and
confirmed and the Indenture as so supplemented by this Supplement shall be
read, taken and construed as one and the same instrument.

 

Section 702.           Counterparts.  This Supplement may be executed in two or
more counterparts, and by different parties on separate counterparts, each of
which shall be an original, but all of which shall constitute one and the same
instrument.  Delivery of an executed
counterpart of this Supplement by facsimile or by electronic means shall be
equally effective as of the delivery of an originally executed counterpart.

 

Section 703.           Governing
Law.  THIS SUPPLEMENT SHALL BE
CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, INCLUDING
SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW BUT OTHERWISE WITHOUT
GIVING EFFECT TO THE PRINCIPLES OF CONFLICTS OF LAW, AND THE RIGHTS,
OBLIGATIONS AND REMEDIES OF THE PARTIES HERETO SHALL BE DETERMINED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF 
NEW YORK.

 

Section 704.           Notices
to the Rating Agency.  Whenever
any notice or other communication is required to be given to the Rating Agency
pursuant to the Indenture or this Supplement, such notice or communication
shall be delivered to S&P at Standard & Poor’s Ratings Services,
55 Water Street, 41st Floor, New York, New York 10041,
Attention:  Asset-Backed Surveillance
Group - phone: (212/438-2435), fax: (212/438-2664).  Any rights to notices conveyed to the Rating
Agency pursuant to the terms of this Supplement shall terminate immediately if
the Rating Agency no longer has a rating outstanding with respect to the Series 2010-2
Notes.

 

Section 705.           Amendments
and Modifications.  (a) The
terms of this Supplement may be waived, modified or amended only in a written
instrument signed by (A) each of the Issuer, the Control Party and the
Indenture Trustee and (B) (i) except with respect to the matters set
forth in Section 1002(a) of the Indenture, the prior written consent
of the Majority of Holders and (ii) if required pursuant to Section 304(g) hereof
or pursuant to Section 1001 or 1002(a) of the Indenture and each
affected Series 2010-2 Noteholder. 
For the purposes of clause (B) of the preceding sentence, any
amendment to or modification or waiver of this Supplement shall be deemed a
Supplemental Indenture subject to Sections 1001 or 1002 of the Indenture.

 

23

 

Prior
to the execution of any written instrument pursuant to this Section, the Issuer
shall provide a written notice to the Rating Agency setting forth in general
terms the substance of any such written instrument.

 

(b)           Promptly after the
execution by the Issuer and the Indenture Trustee of any written instrument
pursuant to this Section, the Indenture Trustee shall mail to the Noteholders,
the Rating Agency, the Series 2010-2 Noteholders and each Hedge
Counterparty a copy of the text of such written instrument. Any failure of the
Indenture Trustee to mail such copy, or any defect therein, shall not, however,
in any way impair or affect the validity of any such written instrument.

 

Section 706.           Consent
to Jurisdiction. ANY LEGAL SUIT, ACTION OR PROCEEDING AGAINST ANY
PARTY HERETO ARISING OUT OF OR RELATING TO THIS SUPPLEMENT, OR ANY TRANSACTION
CONTEMPLATED HEREBY, MAY BE INSTITUTED IN ANY FEDERAL OR STATE COURT IN
THE COUNTY OF NEW YORK, STATE OF NEW YORK AND EACH PARTY HERETO HEREBY WAIVES
ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF
ANY SUCH SUIT, ACTION OR PROCEEDING, AND, SOLELY FOR THE PURPOSES OF ENFORCING
THIS SUPPLEMENT, EACH PARTY HERETO HEREBY IRREVOCABLY SUBMITS TO THE
JURISDICTION OF ANY SUCH COURT IN ANY SUCH SUIT, ACTION OR PROCEEDING.

 

Section 707.           Waiver
of Jury Trial.  EACH OF THE
PARTIES HERETO HEREBY IRREVOCABLY WAIVES, AS AGAINST THE OTHER PARTIES HERETO,
ANY RIGHTS IT MAY HAVE TO A JURY TRIAL IN RESPECT OF ANY CIVIL ACTION OR
PROCEEDING (WHETHER ARISING IN CONTRACT OR TORT OR OTHERWISE), INCLUDING
ANY COUNTERCLAIM, ARISING UNDER OR RELATING TO THIS SUPPLEMENT OR ANY OTHER
SERIES 2010-2 TRANSACTION DOCUMENT, INCLUDING IN RESPECT OF THE
NEGOTIATION, ADMINISTRATION OR ENFORCEMENT HEREOF OR THEREOF.

 

Section 708.           No
Petition.  The
Indenture Trustee, on its own behalf, hereby covenants and agrees, and each
Noteholder by its acquisition of a Series 2010-2 Note shall be deemed to
covenant and agree, that it will not institute against the Issuer any
bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings,
or other proceedings under any Insolvency Law or any other federal or state
bankruptcy or similar law, at any time other than on a date which is at least
one year and one day after the last date on which any Series 2010-2 Note
is Outstanding.  The provisions of this Section 708
shall survive the repayment of the Notes and any termination of this
Supplement.

 

Section 709.           Amendment
to Section 201(d) of Series 2010-1 Supplement.  The first sentence of Section 201(d) of
the Series 2010-1 Supplement, dated as of June 28, 2010, between the
Issuer and the Indenture Trustee, is hereby amended and restated in its
entirety as follows: “The Series 2010-1 Notes are classified as “Term
Notes”, as such term is used in the Indenture.”

 

[Signature page follows.]

 

24

 

IN
WITNESS WHEREOF, the Issuer and the Indenture Trustee have caused this
Supplement to be duly executed and delivered all as of the day and year first
above written.

 

	
   

  	
  TAL
  ADVANTAGE IV LLC, as Issuer

  
	
   

  	
   

  
	
   

  	
  By:

  	
  TAL
  International Container Corporation, its Manager

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  

 

 

	
   

  	
  WELLS
  FARGO BANK, NATIONAL ASSOCIATION, not individually but solely as Indenture
  Trustee

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  

 

 

 

SCHEDULE 1

 

Minimum Targeted Principal Balance by Period

 

	
   

  	
   

  	
   

  	
   

  	
  Minimum

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Targeted

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Principal

  	
   

  
	
  Period

  	
   

  	
  Date

  	
   

  	
  Balance

  	
   

  
	
  0

  	
   

  	
  Oct-2010

  	
   

  	
  $

  	
  203,000,000

  	
   

  
	
  1

  	
   

  	
  Nov-2010

  	
   

  	
  201,872,222

  	
   

  
	
  2

  	
   

  	
  Dec-2010

  	
   

  	
  200,744,444

  	
   

  
	
  3

  	
   

  	
  Jan-2011

  	
   

  	
  199,616,667

  	
   

  
	
  4

  	
   

  	
  Feb-2011

  	
   

  	
  198,488,889

  	
   

  
	
  5

  	
   

  	
  Mar-2011

  	
   

  	
  197,361,111

  	
   

  
	
  6

  	
   

  	
  Apr-2011

  	
   

  	
  196,233,333

  	
   

  
	
  7

  	
   

  	
  May-2011

  	
   

  	
  195,105,556

  	
   

  
	
  8

  	
   

  	
  Jun-2011

  	
   

  	
  193,977,778

  	
   

  
	
  9

  	
   

  	
  Jul-2011

  	
   

  	
  192,850,000

  	
   

  
	
  10

  	
   

  	
  Aug-2011

  	
   

  	
  191,722,222

  	
   

  
	
  11

  	
   

  	
  Sep-2011

  	
   

  	
  190,594,444

  	
   

  
	
  12

  	
   

  	
  Oct-2011

  	
   

  	
  189,466,667

  	
   

  
	
  13

  	
   

  	
  Nov-2011

  	
   

  	
  188,338,889

  	
   

  
	
  14

  	
   

  	
  Dec-2011

  	
   

  	
  187,211,111

  	
   

  
	
  15

  	
   

  	
  Jan-2012

  	
   

  	
  186,083,333

  	
   

  
	
  16

  	
   

  	
  Feb-2012

  	
   

  	
  184,955,556

  	
   

  
	
  17

  	
   

  	
  Mar-2012

  	
   

  	
  183,827,778

  	
   

  
	
  18

  	
   

  	
  Apr-2012

  	
   

  	
  182,700,000

  	
   

  
	
  19

  	
   

  	
  May-2012

  	
   

  	
  181,572,222

  	
   

  
	
  20

  	
   

  	
  Jun-2012

  	
   

  	
  180,444,444

  	
   

  
	
  21

  	
   

  	
  Jul-2012

  	
   

  	
  179,316,667

  	
   

  
	
  22

  	
   

  	
  Aug-2012

  	
   

  	
  178,188,889

  	
   

  
	
  23

  	
   

  	
  Sep-2012

  	
   

  	
  177,061,111

  	
   

  
	
  24

  	
   

  	
  Oct-2012

  	
   

  	
  175,933,333

  	
   

  
	
  25

  	
   

  	
  Nov-2012

  	
   

  	
  174,805,556

  	
   

  
	
  26

  	
   

  	
  Dec-2012

  	
   

  	
  173,677,778

  	
   

  
	
  27

  	
   

  	
  Jan-2013

  	
   

  	
  172,550,000

  	
   

  
	
  28

  	
   

  	
  Feb-2013

  	
   

  	
  171,422,222

  	
   

  
	
  29

  	
   

  	
  Mar-2013

  	
   

  	
  170,294,444

  	
   

  
	
  30

  	
   

  	
  Apr-2013

  	
   

  	
  169,166,667

  	
   

  
	
  31

  	
   

  	
  May-2013

  	
   

  	
  168,038,889

  	
   

  
	
  32

  	
   

  	
  Jun-2013

  	
   

  	
  166,911,111

  	
   

  
	
  33

  	
   

  	
  Jul-2013

  	
   

  	
  165,783,333

  	
   

  
	
  34

  	
   

  	
  Aug-2013

  	
   

  	
  164,655,556

  	
   

  
	
  35

  	
   

  	
  Sep-2013

  	
   

  	
  163,527,778

  	
   

  
	
  36

  	
   

  	
  Oct-2013

  	
   

  	
  162,400,000

  	
   

  
	
  37

  	
   

  	
  Nov-2013

  	
   

  	
  161,272,222

  	
   

  
	
  38

  	
   

  	
  Dec-2013

  	
   

  	
  160,144,444

  	
   

  
	
  39

  	
   

  	
  Jan-2014

  	
   

  	
  159,016,667

  	
   

  
	
  40

  	
   

  	
  Feb-2014

  	
   

  	
  157,888,889

  	
   

  
	
  41

  	
   

  	
  Mar-2014

  	
   

  	
  156,761,111

  	
   

  
	
  42

  	
   

  	
  Apr-2014

  	
   

  	
  155,633,333

  	
   

  
	
  43

  	
   

  	
  May-2014

  	
   

  	
  154,505,556

  	
   

  
	
  44

  	
   

  	
  Jun-2014

  	
   

  	
  153,377,778

  	
   

  
	
  45

  	
   

  	
  Jul-2014

  	
   

  	
  152,250,000

  	
   

  
	
  46

  	
   

  	
  Aug-2014

  	
   

  	
  151,122,222

  	
   

  
	
  47

  	
   

  	
  Sep-2014

  	
   

  	
  149,994,444

  	
   

  
	
  48

  	
   

  	
  Oct-2014

  	
   

  	
  148,866,667

  	
   

  
	
  49

  	
   

  	
  Nov-2014

  	
   

  	
  147,738,889

  	
   

  
	
  50

  	
   

  	
  Dec-2014

  	
   

  	
  146,611,111

  	
   

  
	
  51

  	
   

  	
  Jan-2015

  	
   

  	
  145,483,333

  	
   

  
	
  52

  	
   

  	
  Feb-2015

  	
   

  	
  144,355,556

  	
   

  
	
  53

  	
   

  	
  Mar-2015

  	
   

  	
  143,227,778

  	
   

  
	
  54

  	
   

  	
  Apr-2015

  	
   

  	
  142,100,000

  	
   

  
	
  55

  	
   

  	
  May-2015

  	
   

  	
  140,972,222

  	
   

  
	
  56

  	
   

  	
  Jun-2015

  	
   

  	
  139,844,444

  	
   

  
	
  57

  	
   

  	
  Jul-2015

  	
   

  	
  138,716,667

  	
   

  
	
  58

  	
   

  	
  Aug-2015

  	
   

  	
  137,588,889

  	
   

  
	
  59

  	
   

  	
  Sep-2015

  	
   

  	
  136,461,111

  	
   

  
	
  60

  	
   

  	
  Oct-2015

  	
   

  	
  135,333,333

  	
   

  
	
  61

  	
   

  	
  Nov-2015

  	
   

  	
  $

  	
  134,205,556

  	
   

  
	
  62

  	
   

  	
  Dec-2015

  	
   

  	
  $

  	
  133,077,778

  	
   

  
	
  63

  	
   

  	
  Jan-2016

  	
   

  	
  $

  	
  131,950,000

  	
   

  
	
  64

  	
   

  	
  Feb-2016

  	
   

  	
  $

  	
  130,822,222

  	
   

  
	
  65

  	
   

  	
  Mar-2016

  	
   

  	
  $

  	
  129,694,444

  	
   

  
	
  66

  	
   

  	
  Apr-2016

  	
   

  	
  $

  	
  128,566,667

  	
   

  
	
  67

  	
   

  	
  May-2016

  	
   

  	
  $

  	
  127,438,889

  	
   

  
	
  68

  	
   

  	
  Jun-2016

  	
   

  	
  $

  	
  126,311,111

  	
   

  
	
  69

  	
   

  	
  Jul-2016

  	
   

  	
  $

  	
  125,183,333

  	
   

  
	
  70

  	
   

  	
  Aug-2016

  	
   

  	
  $

  	
  124,055,556

  	
   

  
	
  71

  	
   

  	
  Sep-2016

  	
   

  	
  $

  	
  122,927,778

  	
   

  
	
  72

  	
   

  	
  Oct-2016

  	
   

  	
  $

  	
  121,800,000

  	
   

  
	
  73

  	
   

  	
  Nov-2016

  	
   

  	
  $

  	
  120,672,222

  	
   

  
	
  74

  	
   

  	
  Dec-2016

  	
   

  	
  $

  	
  119,544,444

  	
   

  
	
  75

  	
   

  	
  Jan-2017

  	
   

  	
  $

  	
  118,416,667

  	
   

  
	
  76

  	
   

  	
  Feb-2017

  	
   

  	
  $

  	
  117,288,889

  	
   

  
	
  77

  	
   

  	
  Mar-2017

  	
   

  	
  $

  	
  116,161,111

  	
   

  
	
  78

  	
   

  	
  Apr-2017

  	
   

  	
  $

  	
  115,033,333

  	
   

  
	
  79

  	
   

  	
  May-2017

  	
   

  	
  $

  	
  113,905,556

  	
   

  
	
  80

  	
   

  	
  Jun-2017

  	
   

  	
  $

  	
  112,777,778

  	
   

  
	
  81

  	
   

  	
  Jul-2017

  	
   

  	
  $

  	
  111,650,000

  	
   

  
	
  82

  	
   

  	
  Aug-2017

  	
   

  	
  $

  	
  110,522,222

  	
   

  
	
  83

  	
   

  	
  Sep-2017

  	
   

  	
  $

  	
  109,394,444

  	
   

  
	
  84

  	
   

  	
  Oct-2017

  	
   

  	
  $

  	
  108,266,667

  	
   

  
	
  85

  	
   

  	
  Nov-2017

  	
   

  	
  $

  	
  107,138,889

  	
   

  
	
  86

  	
   

  	
  Dec-2017

  	
   

  	
  $

  	
  106,011,111

  	
   

  
	
  87

  	
   

  	
  Jan-2018

  	
   

  	
  $

  	
  104,883,333

  	
   

  
	
  88

  	
   

  	
  Feb-2018

  	
   

  	
  $

  	
  103,755,556

  	
   

  
	
  89

  	
   

  	
  Mar-2018

  	
   

  	
  $

  	
  102,627,778

  	
   

  
	
  90

  	
   

  	
  Apr-2018

  	
   

  	
  $

  	
  101,500,000

  	
   

  
	
  91

  	
   

  	
  May-2018

  	
   

  	
  $

  	
  100,372,222

  	
   

  
	
  92

  	
   

  	
  Jun-2018

  	
   

  	
  $

  	
  99,244,444

  	
   

  
	
  93

  	
   

  	
  Jul-2018

  	
   

  	
  $

  	
  98,116,667

  	
   

  
	
  94

  	
   

  	
  Aug-2018

  	
   

  	
  $

  	
  96,988,889

  	
   

  
	
  95

  	
   

  	
  Sep-2018

  	
   

  	
  $

  	
  95,861,111

  	
   

  
	
  96

  	
   

  	
  Oct-2018

  	
   

  	
  $

  	
  94,733,333

  	
   

  
	
  97

  	
   

  	
  Nov-2018

  	
   

  	
  $

  	
  93,605,556

  	
   

  
	
  98

  	
   

  	
  Dec-2018

  	
   

  	
  $

  	
  92,477,778

  	
   

  
	
  99

  	
   

  	
  Jan-2019

  	
   

  	
  $

  	
  91,350,000

  	
   

  
	
  100

  	
   

  	
  Feb-2019

  	
   

  	
  $

  	
  90,222,222

  	
   

  
	
  101

  	
   

  	
  Mar-2019

  	
   

  	
  $

  	
  89,094,444

  	
   

  
	
  102

  	
   

  	
  Apr-2019

  	
   

  	
  $

  	
  87,966,667

  	
   

  
	
  103

  	
   

  	
  May-2019

  	
   

  	
  $

  	
  86,338,889

  	
   

  
	
  104

  	
   

  	
  Jun-2019

  	
   

  	
  $

  	
  85,711,111

  	
   

  
	
  105

  	
   

  	
  Jul-2019

  	
   

  	
  $

  	
  84,583,333

  	
   

  
	
  106

  	
   

  	
  Aug-2019

  	
   

  	
  $

  	
  83,455,556

  	
   

  
	
  107

  	
   

  	
  Sep-2019

  	
   

  	
  $

  	
  82,327,778

  	
   

  
	
  108

  	
   

  	
  Oct-2019

  	
   

  	
  $

  	
  81,200,000

  	
   

  
	
  109

  	
   

  	
  Nov-2019

  	
   

  	
  $

  	
  80,072,222

  	
   

  
	
  110

  	
   

  	
  Dec-2019

  	
   

  	
  $

  	
  78,944,444

  	
   

  
	
  111

  	
   

  	
  Jan-2020

  	
   

  	
  $

  	
  77,816,667

  	
   

  
	
  112

  	
   

  	
  Feb-2020

  	
   

  	
  $

  	
  76,688,889

  	
   

  
	
  113

  	
   

  	
  Mar-2020

  	
   

  	
  $

  	
  75,561,111

  	
   

  
	
  114

  	
   

  	
  Apr-2020

  	
   

  	
  $

  	
  74,433,333

  	
   

  
	
  115

  	
   

  	
  May-2020

  	
   

  	
  $

  	
  73,305,556

  	
   

  
	
  116

  	
   

  	
  Jun-2020

  	
   

  	
  $

  	
  72,177,778

  	
   

  
	
  117

  	
   

  	
  Jul-2020

  	
   

  	
  $

  	
  71,050,000

  	
   

  
	
  118

  	
   

  	
  Aug-2020

  	
   

  	
  $

  	
  69,922,222

  	
   

  
	
  119

  	
   

  	
  Sep-2020

  	
   

  	
  $

  	
  68,794,444

  	
   

  
	
  120

  	
   

  	
  Oct-2020

  	
   

  	
  $

  	
  67,666,667

  	
   

  
	
  121

  	
   

  	
  Nov-2020

  	
   

  	
  $

  	
  66,538,889

  	
   

  
	
  122

  	
   

  	
  Dec-2020

  	
   

  	
  $

  	
  65,411,111

  	
   

  
	
  123

  	
   

  	
  Jan-2021

  	
   

  	
  $

  	
  64,283,333

  	
   

  
	
  124

  	
   

  	
  Feb-2021

  	
   

  	
  $

  	
  63,155,556

  	
   

  
	
  125

  	
   

  	
  Mar-2021

  	
   

  	
  $

  	
  62,027,778

  	
   

  
	
  126

  	
   

  	
  Apr-2021

  	
   

  	
  $

  	
  60,900,000

  	
   

  
	
  127

  	
   

  	
  May-2021

  	
   

  	
  $

  	
  59,772,222

  	
   

  
	
  128

  	
   

  	
  Jun-2021

  	
   

  	
  $

  	
  58,644,444

  	
   

  
	
  129

  	
   

  	
  Jul-2021

  	
   

  	
  $

  	
  57,516,667

  	
   

  
	
  130

  	
   

  	
  Aug-2021

  	
   

  	
  $

  	
  56,388,889

  	
   

  
	
  131

  	
   

  	
  Sep-2021

  	
   

  	
  $

  	
  55,261,111

  	
   

  
	
  132

  	
   

  	
  Oct-2021

  	
   

  	
  $

  	
  54,133,333

  	
   

  
	
  133

  	
   

  	
  Nov-2021

  	
   

  	
  $

  	
  53,005,556

  	
   

  
	
  134

  	
   

  	
  Dec-2021

  	
   

  	
  $

  	
  51,877,778

  	
   

  
	
  135

  	
   

  	
  Jan-2022

  	
   

  	
  $

  	
  50,750,000

  	
   

  
	
  136

  	
   

  	
  Feb-2022

  	
   

  	
  $

  	
  49,622,222

  	
   

  
	
  137

  	
   

  	
  Mar-2022

  	
   

  	
  $

  	
  48,494,444

  	
   

  
	
  138

  	
   

  	
  Apr-2022

  	
   

  	
  $

  	
  47,366,667

  	
   

  
	
  139

  	
   

  	
  May-2022

  	
   

  	
  $

  	
  46,238,889

  	
   

  
	
  140

  	
   

  	
  Jun-2022

  	
   

  	
  $

  	
  45,111,111

  	
   

  
	
  141

  	
   

  	
  Jul-2022

  	
   

  	
  $

  	
  43,983,333

  	
   

  
	
  142

  	
   

  	
  Aug-2022

  	
   

  	
  $

  	
  42,855,556

  	
   

  
	
  143

  	
   

  	
  Sep-2022

  	
   

  	
  $

  	
  41,727,778

  	
   

  
	
  144

  	
   

  	
  Oct-2022

  	
   

  	
  $

  	
  40,600,000

  	
   

  
	
  145

  	
   

  	
  Nov-2022

  	
   

  	
  $

  	
  39,472,222

  	
   

  
	
  146

  	
   

  	
  Dec-2022

  	
   

  	
  $

  	
  38,344,444

  	
   

  
	
  147

  	
   

  	
  Jan-2023

  	
   

  	
  $

  	
  37,216,667

  	
   

  
	
  148

  	
   

  	
  Feb-2023

  	
   

  	
  $

  	
  36,088,889

  	
   

  
	
  149

  	
   

  	
  Mar-2023

  	
   

  	
  $

  	
  34,961,111

  	
   

  
	
  150

  	
   

  	
  Apr-2023

  	
   

  	
  $

  	
  33,833,333

  	
   

  
	
  151

  	
   

  	
  May-2023

  	
   

  	
  $

  	
  32,705,556

  	
   

  
	
  152

  	
   

  	
  Jun-2023

  	
   

  	
  $

  	
  31,577,778

  	
   

  
	
  153

  	
   

  	
  Jul-2023

  	
   

  	
  $

  	
  30,450,000

  	
   

  
	
  154

  	
   

  	
  Aug-2023

  	
   

  	
  $

  	
  29,322,222

  	
   

  
	
  155

  	
   

  	
  Sep-2023

  	
   

  	
  $

  	
  28,194,444

  	
   

  
	
  156

  	
   

  	
  Oct-2023

  	
   

  	
  $

  	
  27,066,667

  	
   

  
	
  157

  	
   

  	
  Nov-2023

  	
   

  	
  $

  	
  25,938,889

  	
   

  
	
  158

  	
   

  	
  Dec-2023

  	
   

  	
  $

  	
  24,811,111

  	
   

  
	
  159

  	
   

  	
  Jan-2024

  	
   

  	
  $

  	
  23,683,333

  	
   

  
	
  160

  	
   

  	
  Feb-2024

  	
   

  	
  $

  	
  22,555,556

  	
   

  
	
  161

  	
   

  	
  Mar-2024

  	
   

  	
  $

  	
  21,427,778

  	
   

  
	
  162

  	
   

  	
  Apr-2024

  	
   

  	
  $

  	
  20,300,000

  	
   

  
	
  163

  	
   

  	
  May-2024

  	
   

  	
  $

  	
  19,172,222

  	
   

  
	
  164

  	
   

  	
  Jun-2024

  	
   

  	
  $

  	
  18,044,444

  	
   

  
	
  165

  	
   

  	
  Jul-2024

  	
   

  	
  $

  	
  16,916,667

  	
   

  
	
  166

  	
   

  	
  Aug-2024

  	
   

  	
  $

  	
  15,788,889

  	
   

  
	
  167

  	
   

  	
  Sep-2024

  	
   

  	
  $

  	
  14,661,111

  	
   

  
	
  168

  	
   

  	
  Oct-2024

  	
   

  	
  $

  	
  13,533,333

  	
   

  
	
  169

  	
   

  	
  Nov-2024

  	
   

  	
  $

  	
  12,405,556

  	
   

  
	
  170

  	
   

  	
  Dec-2024

  	
   

  	
  $

  	
  11,277,778

  	
   

  
	
  171

  	
   

  	
  Jan-2025

  	
   

  	
  $

  	
  10,150,000

  	
   

  
	
  172

  	
   

  	
  Feb-2025

  	
   

  	
  $

  	
  9,022,222

  	
   

  
	
  173

  	
   

  	
  Mar-2025

  	
   

  	
  $

  	
  7,894,444

  	
   

  
	
  174

  	
   

  	
  Apr-2025

  	
   

  	
  $

  	
  6,766,667

  	
   

  
	
  175

  	
   

  	
  May-2025

  	
   

  	
  $

  	
  5,638,889

  	
   

  
	
  176

  	
   

  	
  Jun-2025

  	
   

  	
  $

  	
  4,511,111

  	
   

  
	
  177

  	
   

  	
  Jul-2025

  	
   

  	
  $

  	
  3,383,333

  	
   

  
	
  178

  	
   

  	
  Aug-2025

  	
   

  	
  $

  	
  2,255,556

  	
   

  
	
  179

  	
   

  	
  Sep-2025

  	
   

  	
  $

  	
  1,127,778

  	
   

  
	
  180

  	
   

  	
  Oct-2025

  	
   

  	
  $

  	
  0

  	
   

  

 

 

Scheduled Targeted Principal Balance by Period

 

	
   

  	
   

  	
   

  	
   

  	
  Scheduled

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Targeted

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Principal

  	
   

  
	
  Period

  	
   

  	
  Date

  	
   

  	
  Balance

  	
   

  
	
  0

  	
   

  	
  Oct-2010

  	
   

  	
  $

  	
  203,000,000

  	
   

  
	
  1

  	
   

  	
  Nov-2010

  	
   

  	
  201,308,333

  	
   

  
	
  2

  	
   

  	
  Dec-2010

  	
   

  	
  199,616,667

  	
   

  
	
  3

  	
   

  	
  Jan-2011

  	
   

  	
  197,925,000

  	
   

  
	
  4

  	
   

  	
  Feb-2011

  	
   

  	
  196,233,333

  	
   

  
	
  5

  	
   

  	
  Mar-2011

  	
   

  	
  194,541,667

  	
   

  
	
  6

  	
   

  	
  Apr-2011

  	
   

  	
  192,850,000

  	
   

  
	
  7

  	
   

  	
  May-2011

  	
   

  	
  191,158,333

  	
   

  
	
  8

  	
   

  	
  Jun-2011

  	
   

  	
  189,466,667

  	
   

  
	
  9

  	
   

  	
  Jul-2011

  	
   

  	
  187,775,000

  	
   

  
	
  10

  	
   

  	
  Aug-2011

  	
   

  	
  186,083,333

  	
   

  
	
  11

  	
   

  	
  Sep-2011

  	
   

  	
  184,391,667

  	
   

  
	
  12

  	
   

  	
  Oct-2011

  	
   

  	
  182,700,000

  	
   

  
	
  13

  	
   

  	
  Nov-2011

  	
   

  	
  181,008,333

  	
   

  
	
  14

  	
   

  	
  Dec-2011

  	
   

  	
  179,316,667

  	
   

  
	
  15

  	
   

  	
  Jan-2012

  	
   

  	
  177,625,000

  	
   

  
	
  16

  	
   

  	
  Feb-2012

  	
   

  	
  175,933,333

  	
   

  
	
  17

  	
   

  	
  Mar-2012

  	
   

  	
  174,241,667

  	
   

  
	
  18

  	
   

  	
  Apr-2012

  	
   

  	
  172,550,000

  	
   

  
	
  19

  	
   

  	
  May-2012

  	
   

  	
  170,858,333

  	
   

  
	
  20

  	
   

  	
  Jun-2012

  	
   

  	
  169,166,667

  	
   

  
	
  21

  	
   

  	
  Jul-2012

  	
   

  	
  167,475,000

  	
   

  
	
  22

  	
   

  	
  Aug-2012

  	
   

  	
  165,783,333

  	
   

  
	
  23

  	
   

  	
  Sep-2012

  	
   

  	
  164,091,667

  	
   

  
	
  24

  	
   

  	
  Oct-2012

  	
   

  	
  162,400,000

  	
   

  
	
  25

  	
   

  	
  Nov-2012

  	
   

  	
  160,708,333

  	
   

  
	
  26

  	
   

  	
  Dec-2012

  	
   

  	
  159,016,667

  	
   

  
	
  27

  	
   

  	
  Jan-2013

  	
   

  	
  157,325,000

  	
   

  
	
  28

  	
   

  	
  Feb-2013

  	
   

  	
  155,633,333

  	
   

  
	
  29

  	
   

  	
  Mar-2013

  	
   

  	
  153,941,667

  	
   

  
	
  30

  	
   

  	
  Apr-2013

  	
   

  	
  152,250,000

  	
   

  
	
  31

  	
   

  	
  May-2013

  	
   

  	
  150,558,333

  	
   

  
	
  32

  	
   

  	
  Jun-2013

  	
   

  	
  148,866,667

  	
   

  
	
  33

  	
   

  	
  Jul-2013

  	
   

  	
  147,175,000

  	
   

  
	
  34

  	
   

  	
  Aug-2013

  	
   

  	
  145,483,333

  	
   

  
	
  35

  	
   

  	
  Sep-2013

  	
   

  	
  143,791,667

  	
   

  
	
  36

  	
   

  	
  Oct-2013

  	
   

  	
  142,100,000

  	
   

  
	
  37

  	
   

  	
  Nov-2013

  	
   

  	
  140,408,333

  	
   

  
	
  38

  	
   

  	
  Dec-2013

  	
   

  	
  138,716,667

  	
   

  
	
  39

  	
   

  	
  Jan-2014

  	
   

  	
  137,025,000

  	
   

  
	
  40

  	
   

  	
  Feb-2014

  	
   

  	
  135,333,333

  	
   

  
	
  41

  	
   

  	
  Mar-2014

  	
   

  	
  133,641,667

  	
   

  
	
  42

  	
   

  	
  Apr-2014

  	
   

  	
  131,950,000

  	
   

  
	
  43

  	
   

  	
  May-2014

  	
   

  	
  130,258,333

  	
   

  
	
  44

  	
   

  	
  Jun-2014

  	
   

  	
  128,566,667

  	
   

  
	
  45

  	
   

  	
  Jul-2014

  	
   

  	
  126,875,000

  	
   

  
	
  46

  	
   

  	
  Aug-2014

  	
   

  	
  125,183,333

  	
   

  
	
  47

  	
   

  	
  Sep-2014

  	
   

  	
  123,491,667

  	
   

  
	
  48

  	
   

  	
  Oct-2014

  	
   

  	
  121,800,000

  	
   

  
	
  49

  	
   

  	
  Nov-2014

  	
   

  	
  120,108,333

  	
   

  
	
  50

  	
   

  	
  Dec-2014

  	
   

  	
  118,416,667

  	
   

  
	
  51

  	
   

  	
  Jan-2015

  	
   

  	
  116,725,000

  	
   

  
	
  52

  	
   

  	
  Feb-2015

  	
   

  	
  115,033,333

  	
   

  
	
  53

  	
   

  	
  Mar-2015

  	
   

  	
  113,341,667

  	
   

  
	
  54

  	
   

  	
  Apr-2015

  	
   

  	
  111,650,000

  	
   

  
	
  55

  	
   

  	
  May-2015

  	
   

  	
  109,958,333

  	
   

  
	
  56

  	
   

  	
  Jun-2015

  	
   

  	
  108,266,667

  	
   

  
	
  57

  	
   

  	
  Jul-2015

  	
   

  	
  106,575,000

  	
   

  
	
  58

  	
   

  	
  Aug-2015

  	
   

  	
  104,883,333

  	
   

  
	
  59

  	
   

  	
  Sep-2015

  	
   

  	
  103,191,667

  	
   

  
	
  60

  	
   

  	
  Oct-2015

  	
   

  	
  101,500,000

  	
   

  
	
  61

  	
   

  	
  Nov-2015

  	
   

  	
  99,808,333

  	
   

  
	
  62

  	
   

  	
  Dec-2015

  	
   

  	
  98,116,667

  	
   

  
	
  63

  	
   

  	
  Jan-2016

  	
   

  	
  96,425,000

  	
   

  
	
  64

  	
   

  	
  Feb-2016

  	
   

  	
  94,733,333

  	
   

  
	
  65

  	
   

  	
  Mar-2016

  	
   

  	
  93,041,667

  	
   

  
	
  66

  	
   

  	
  Apr-2016

  	
   

  	
  91,350,000

  	
   

  
	
  67

  	
   

  	
  May-2016

  	
   

  	
  89,658,333

  	
   

  
	
  68

  	
   

  	
  Jun-2016

  	
   

  	
  87,966,667

  	
   

  
	
  69

  	
   

  	
  Jul-2016

  	
   

  	
  86,275,000

  	
   

  
	
  70

  	
   

  	
  Aug-2016

  	
   

  	
  84,583,333

  	
   

  
	
  71

  	
   

  	
  Sep-2016

  	
   

  	
  82,891,667

  	
   

  
	
  72

  	
   

  	
  Oct-2016

  	
   

  	
  81,200,000

  	
   

  
	
  73

  	
   

  	
  Nov-2016

  	
   

  	
  79,508,333

  	
   

  
	
  74

  	
   

  	
  Dec-2016

  	
   

  	
  77,816,667

  	
   

  
	
  75

  	
   

  	
  Jan-2017

  	
   

  	
  76,125,000

  	
   

  
	
  76

  	
   

  	
  Feb-2017

  	
   

  	
  74,433,333

  	
   

  
	
  77

  	
   

  	
  Mar-2017

  	
   

  	
  72,741,667

  	
   

  
	
  78

  	
   

  	
  Apr-2017

  	
   

  	
  71,050,000

  	
   

  
	
  79

  	
   

  	
  May-2017

  	
   

  	
  69,358,333

  	
   

  
	
  80

  	
   

  	
  Jun-2017

  	
   

  	
  67,666,667

  	
   

  
	
  81

  	
   

  	
  Jul-2017

  	
   

  	
  65,975,000

  	
   

  
	
  82

  	
   

  	
  Aug-2017

  	
   

  	
  64,283,333

  	
   

  
	
  83

  	
   

  	
  Sep-2017

  	
   

  	
  62,591,667

  	
   

  
	
  84

  	
   

  	
  Oct-2017

  	
   

  	
  60,900,000

  	
   

  
	
  85

  	
   

  	
  Nov-2017

  	
   

  	
  59,208,333

  	
   

  
	
  86

  	
   

  	
  Dec-2017

  	
   

  	
  57,516,667

  	
   

  
	
  87

  	
   

  	
  Jan-2018

  	
   

  	
  55,825,000

  	
   

  
	
  88

  	
   

  	
  Feb-2018

  	
   

  	
  54,133,333

  	
   

  
	
  89

  	
   

  	
  Mar-2018

  	
   

  	
  52,441,667

  	
   

  
	
  90

  	
   

  	
  Apr-2018

  	
   

  	
  50,750,000

  	
   

  
	
  91

  	
   

  	
  May-2018

  	
   

  	
  49,058,333

  	
   

  
	
  92

  	
   

  	
  Jun-2018

  	
   

  	
  47,366,667

  	
   

  
	
  93

  	
   

  	
  Jul-2018

  	
   

  	
  45,675,000

  	
   

  
	
  94

  	
   

  	
  Aug-2018

  	
   

  	
  43,983,333

  	
   

  
	
  95

  	
   

  	
  Sep-2018

  	
   

  	
  42,291,667

  	
   

  
	
  96

  	
   

  	
  Oct-2018

  	
   

  	
  40,600,000

  	
   

  
	
  97

  	
   

  	
  Nov-2018

  	
   

  	
  38,908,333

  	
   

  
	
  98

  	
   

  	
  Dec-2018

  	
   

  	
  37,216,667

  	
   

  
	
  99

  	
   

  	
  Jan-2019

  	
   

  	
  35,525,000

  	
   

  
	
  100

  	
   

  	
  Feb-2019

  	
   

  	
  33,833,333

  	
   

  
	
  101

  	
   

  	
  Mar-2019

  	
   

  	
  32,141,667

  	
   

  
	
  102

  	
   

  	
  Apr-2019

  	
   

  	
  30,450,000

  	
   

  
	
  103

  	
   

  	
  May-2019

  	
   

  	
  28,758,333

  	
   

  
	
  104

  	
   

  	
  Jun-2019

  	
   

  	
  27,066,667

  	
   

  
	
  105

  	
   

  	
  Jul-2019

  	
   

  	
  25,375,000

  	
   

  
	
  106

  	
   

  	
  Aug-2019

  	
   

  	
  23,683,333

  	
   

  
	
  107

  	
   

  	
  Sep-2019

  	
   

  	
  21,991,667

  	
   

  
	
  108

  	
   

  	
  Oct-2019

  	
   

  	
  20,300,000

  	
   

  
	
  109

  	
   

  	
  Nov-2019

  	
   

  	
  18,608,333

  	
   

  
	
  110

  	
   

  	
  Dec-2019

  	
   

  	
  16,916,667

  	
   

  
	
  111

  	
   

  	
  Jan-2020

  	
   

  	
  15,225,000

  	
   

  
	
  112

  	
   

  	
  Feb-2020

  	
   

  	
  13,533,333

  	
   

  
	
  113

  	
   

  	
  Mar-2020

  	
   

  	
  11,841,667

  	
   

  
	
  114

  	
   

  	
  Apr-2020

  	
   

  	
  10,150,000

  	
   

  
	
  115

  	
   

  	
  May-2020

  	
   

  	
  8,458,333

  	
   

  
	
  116

  	
   

  	
  Jun-2020

  	
   

  	
  6,766,667

  	
   

  
	
  117

  	
   

  	
  Jul-2020

  	
   

  	
  5,075,000

  	
   

  
	
  118

  	
   

  	
  Aug-2020

  	
   

  	
  3,383,333

  	
   

  
	
  119

  	
   

  	
  Sep-2020

  	
   

  	
  1,691,667

  	
   

  
	
  120

  	
   

  	
  Oct-2020

  	
   

  	
  0Exhibit
4.58

 

 

NOTE PURCHASE AGREEMENT

 

Dated as of October 19, 2010

 

among

 

TAL ADVANTAGE IV LLC

as Issuer

 

TAL INTERNATIONAL CONTAINER CORPORATION

as Manager

 

WELLS FARGO SECURITIES, LLC

as Initial Purchaser

 

 

 

(TAL ADVANTAGE IV LLC - 

FIXED RATE SECURED NOTES, SERIES 2010-2)

 

 

TABLE OF CONTENTS

 

	
   

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  
	
  SECTION 1.

  	
  Definitions

  	
  2

  
	
  SECTION 2.

  	
  The Notes

  	
  4

  
	
  SECTION 3.

  	
  Representations and Warranties of the Issuer

  	
  6

  
	
  SECTION 3A.

  	
  Representations and Warranties of the Manager

  	
  9

  
	
  SECTION 4.

  	
  Purchase, Sale and Delivery of the Notes

  	
  9

  
	
  SECTION 5.

  	
  Offering by the Initial Purchaser

  	
  9

  
	
  SECTION 6.

  	
  Covenants of the Issuer

  	
  10

  
	
  SECTION 7.

  	
  Expenses; Fees

  	
  12

  
	
  SECTION 8.

  	
  Conditions of the Initial Purchaser’s Obligation

  	
  13

  
	
  SECTION 9.

  	
  Representations, Warranties and Covenants of the Initial
  Purchaser

  	
  16

  
	
  SECTION 10.

  	
  Indemnification and Contribution

  	
  18

  
	
  SECTION 11.

  	
  Survival; Scope of Liability

  	
  21

  
	
  SECTION 12.

  	
  Termination

  	
  22

  
	
  SECTION 13.

  	
  Supplied Information

  	
  22

  
	
  SECTION 14.

  	
  Notices

  	
  22

  
	
  SECTION 15.

  	
  Successors

  	
  23

  
	
  SECTION 16.

  	
  Counterparts

  	
  23

  
	
  SECTION 17.

  	
  Governing Law

  	
  23

  
	
  SECTION 18.

  	
  Submission to Jurisdiction

  	
  24

  
	
  SECTION 19.

  	
  Waiver of Jury Trial

  	
  24

  
	
  SECTION 20.

  	
  Negotiations

  	
  24

  
	
  SECTION 21.

  	
  Amendments, Etc.

  	
  24

  
	
  SECTION 22.

  	
  Severability of Provisions

  	
  24

  
	
  SECTION 23.

  	
  No Waiver; Cumulative Remedies

  	
  25

  
	
  SECTION 24.

  	
  Integration

  	
  25

  
	
  SECTION 25.

  	
  Nonpetition Covenant

  	
  25

  
	
  SECTION 26.

  	
  USA
  Patriot Act

  	
  26

  

 

i

 

 

NOTE
PURCHASE AGREEMENT (as amended, modified and supplemented from time to time in
accordance with its terms, the “Agreement”),  dated as of October 19, 2010, by and among:

 

(1)           TAL
ADVANTAGE IV LLC, a Delaware limited liability company, as issuer under the
Indenture (defined below) and the Series 2010-2 Supplement (defined below)
(together with its successors and permitted assigns, the “Issuer”);

 

(2)           TAL
INTERNATIONAL CONTAINER CORPORATION, a Delaware corporation (together with its
successors and permitted assigns, the “Manager”);
and

 

(3)           WELLS
FARGO SECURITIES, LLC, a Delaware limited liability company, as the Initial
Purchaser (together with its successors and assigns, “Initial Purchaser”).

 

NOW
THEREFORE, in consideration of the premises and mutual covenants herein
contained, the parties hereto agree as follows:

 

SECTION
1.           Definitions.

 

(a)           Certain
capitalized terms used throughout this Agreement are defined above or in this Section
1(a).  In addition, capitalized terms
used but not defined herein have the meanings given to such terms in Appendix A
to the Indenture, dated as of June 28, 2010 (as amended, restated, supplemented
or otherwise modified from time to time in accordance with its terms, the “Indenture”), by and between the Issuer and
Wells Fargo Bank, National Association, as indenture trustee (the “Indenture Trustee”), or, if not defined
therein, as defined in the Series 2010-2 Supplement, dated as of October 19,
2010, by and between the Issuer and the Indenture Trustee (as amended,
restated, supplemented or otherwise modified from time to time in accordance
with its terms, the “Series 2010-2
Supplement”), issued pursuant to the terms of the Indenture.

 

(b)           As used in this
Agreement and its exhibits, the following terms shall have the following
meanings (such meanings to be equally applicable to both the singular and
plural forms of the terms defined).

 

Act:  The
Securities Act of 1933, as amended, and the rules and regulations promulgated
thereunder.

 

Affiliate:  This term
has the meaning set forth in Appendix A to the Indenture.

 

Authorized Signatories:  Any Person designated by written notice
delivered to the Indenture Trustee as authorized to execute documents and
instruments on behalf of a Person.

 

Closing Date:  This term
has the meaning set forth in Section 4 hereof.

 

Code:  Internal
Revenue Code of 1986, as amended.

 

Commission:  The United
States Securities and Exchange Commission.

 

2

 

Container:  This term
has the meaning set forth in Appendix A to the Indenture.

 

Definitive Note:  This
term has the meaning set forth in Appendix A to the Indenture.

 

Depositary:  The
Depository Trust Company, until a successor Depositary shall have become such
pursuant to the applicable provisions of the Indenture, and thereafter “Depositary”
shall mean or include each Person who is then a Depositary under the Indenture.

 

Early Amortization Event:  This term has the meaning set forth in Section
1201 of the Indenture.

 

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

 

Event of Default:  This
term has the meaning set forth in Section 801 of the Indenture.

 

Exchange Act:  The
Securities Exchange Act of 1934, as amended, and the rules and regulations
promulgated thereunder.

 

Global Notes:  This term
has the meaning set forth in Appendix A to the Indenture.

 

Indenture:  This term
shall have the meaning set forth in Section 1(a) hereof.

 

Indenture Trustee:  This
term shall have the meaning set forth in Section 1(a) hereof.

 

Initial Purchaser Information:  This term has the meaning set forth in Section
13 hereof.

 

Initial Purchaser:  This
term has the meaning set forth in the preamble hereto.

 

Institutional Accredited Investors:  This term has the meaning set forth in Section
2(f) hereof.

 

Investment Company Act:  The Investment Company Act of 1940, as
amended, and the rules and regulations promulgated thereunder.

 

Loss:  This term
has the meaning set forth in Section 10(a) hereof.

 

Manager Report:  This
term has the meaning set forth in Appendix A to the Indenture.

 

Noteholder:  The Person
in whose name a Note is registered in the Note Register maintained by the
Indenture Trustee pursuant to Section 205 of the Indenture.

 

Notes:  The Fixed
Rate Secured Notes, Series 2010-2, issued by the Issuer pursuant to the terms
of the Series 2010-2 Supplement.

 

3

 

Offering Memorandum:  This term has the meaning set forth in Section
2(d) hereof.

 

Person:  An
individual, a partnership, a limited liability company, a corporation, a joint
venture, an unincorporated association, a joint-stock company, a trust, or
other entity or a Governmental Authority.

 

Preliminary Offering Memorandum:  This term has the meaning set forth in
Section 2(d) hereof.

 

Proceeding:  This term
has the meaning set forth in Section 10(a) hereof.

 

Qualified Institutional Buyer:  This term has the meaning set forth in Rule 144A.

 

Rating Agency: 
S&P and any other rating agency that has been requested to issue a
rating with respect to the Notes.

 

Regulation S:  This term
has the meaning set forth in Section 2(f) hereof.

 

Related Assets:  This
term has the meaning set forth in Appendix A to the Indenture.

 

Rule 144A:  Rule 144A
under the Act, as such rule may be amended from time to time.

 

S&P:  Standard &
Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc., and any
successor thereto.

 

Series 2010-2 Supplement:  This term has the meaning set forth in Section
1(a) hereof.

 

TAL Fleet:  The Manager’s
fleet of Managed Containers.

 

TAL Person:  This term
has the meaning set forth in Section 8(f) hereof.

 

UCC:  The Uniform
Commercial Code as in effect in the applicable jurisdiction.

 

United States:  The
United States of America.

 

(c)           All accounting
terms not specifically defined herein shall be construed in accordance with
GAAP.  All terms used in the UCC in
effect in the State of New York and not specifically defined herein, are used
herein as defined therein.

 

(d)           Unless otherwise
stated in this Agreement, in the computation of a period of time from a
specified date to a later specified date, the word “from” means “from and
including” and the words “to” and “until” each mean “to but excluding”.

 

SECTION 2.           The Notes.  (a) Subject to the terms and conditions
herein contained, the Issuer proposes to sell to the Initial Purchaser Two
Hundred and Three Million Dollars 

 

4

 

($203,000,000) aggregate principal amount of the
Notes, as more fully described in Section
4.  The terms of the Notes are
more fully set forth in the Offering Memorandum.

 

(b)           The Notes are to
be issued under the Series 2010-2 Supplement issued pursuant to the Indenture.

 

(c)           The Notes shall be
offered and sold to the Initial Purchaser without being registered under the
Act, in reliance on exemptions therefrom provided by Section 464 of the Act.

 

(d)           In connection with
the sale of the Notes, the Issuer has prepared a preliminary offering
memorandum dated September 30, 2010 (the “Preliminary
Offering Memorandum”) and a final Offering Memorandum dated October 13,
2010 (the “Offering Memorandum”),
which shall each be in form and substance satisfactory to the Initial
Purchaser. All references to the Preliminary Offering Memorandum or the
Offering Memorandum shall be deemed to include all attachments thereto.

 

(e)           The Issuer hereby
expressly authorizes the Initial Purchaser to use the Preliminary Offering
Memorandum and the Offering Memorandum, as they may at any time have been or
may be amended or supplemented by the Issuer, in connection with the offer and
sale of the Notes. The Issuer hereby ratifies and affirms all distributions of
the Preliminary Offering Memorandum by the Initial Purchaser prior to the date
of this Agreement and authorizes the Initial Purchaser to distribute the Preliminary
Offering Memorandum and the Offering Memorandum in connection with the offer
and sale of the Notes, provided that, in each case, such distributions were
made only to Persons reasonably believed by the Initial Purchaser to be (i) Qualified
Institutional Buyers, (ii) Institutional Accredited Investors that deliver a
Purchaser Letter in the form of Annex A to the Offering Memorandum, or (iii) certain
Persons to whom the offer and sale of the Notes may be made without
registration under the Act in reliance upon Regulation S.  The Issuer also hereby expressly authorizes
the Initial Purchaser to distribute to Persons with the aforementioned
qualifications copies of the Series 2010-2 Transaction Documents and of opinion
letters and other documents delivered in connection with the execution of the Series
2010-2 Transaction Documents, in connection with the offer and sale of the
Notes if requested by such Persons.

 

(f)            The Issuer
understands that the Initial Purchaser proposes to make an offering of the
Notes, as soon as it deems advisable after this Agreement has been executed and
delivered, on the terms and in the manner set forth in the Offering Memorandum
to Persons that the Initial Purchaser reasonably believes to be (i) Qualified
Institutional Buyers, in transactions under Rule 144A, (ii) institutional “accredited
investors” (“Institutional Accredited
Investors”), as defined in Rule 501(a)(1), (2), (3) or (7) under
Regulation D of the Act that deliver a Purchase Letter in the form of Annex A
to the Offering Memorandum in private sales exempt from registration under the
Act, or (iii) certain Persons to whom the offer and sale of the Notes may be
made without registration under the Act in reliance upon Regulation S under the
Act (“Regulation S”).  Any Notes sold to Institutional Accredited
Investors shall be represented by one or more Definitive Notes.

 

5

 

SECTION 3.           Representations and
Warranties of the Issuer.  The Issuer represents and warrants to the
Initial Purchaser that as of the date hereof and as of the Closing Date:

 

(a)           (A) At 2:00 p.m. on October 13, 2010, the time of the first contract of
sale by the Initial Purchaser for any notes (the “Time of Sale”), the Preliminary Offering Memorandum did not
include any untrue statement of a material fact or omit to state any material
fact required to be stated therein or necessary to make the statements therein,
in light of the circumstances under which they were made, not misleading; and (B)
the Offering Memorandum, as of its date and as of the Closing Date, will not
include any untrue statement of a material fact or omit to state any material
fact required to be stated therein or necessary to make the statements therein,
in light of the circumstances under which they were made, not misleading; provided, however, that the foregoing does
not apply to information contained in or omitted from the Initial Purchaser
Information (as defined in Section 13).

 

(b)           The statements in
the Offering Memorandum under the captions “Description of the Management
Agreement,” “Description of the Contribution and Sale Agreement,” “Description
of the Series 2010-2 Notes and the Indenture” and “Description of the
Transition Agent Agreement,” insofar as they purport to constitute a summary of
the principal terms of the Notes and the Series 2010-2 Transaction Documents
conform in all material respects to the terms of the Notes and the Series 2010-2
Transaction Documents.

 

(c)           The Issuer is a
limited liability company duly organized, validly existing and in good standing
under the laws of Delaware.  The Issuer
is duly qualified to do business in each jurisdiction in which its ownership or
lease of property or the conduct of its business requires such qualification,
except where the failure to be so qualified would not reasonably be expected to
have a material adverse effect upon the Issuer or the ability of the Issuer to
perform any of its obligations under any Series 2010-2 Transaction Document to
which it is a party.

 

(d)           The Issuer has all
necessary limited liability company power and authority to execute and deliver
the Notes.  Each Note has been duly and
validly authorized by the Issuer and, from and after the date on which such
Note is executed by the Issuer and authenticated by the Indenture Trustee in
accordance with the terms of the Indenture and the Series 2010-2 Supplement and
delivered to and paid for by the Initial Purchaser in accordance with the terms
of this Agreement, shall be validly issued and outstanding and shall constitute
a valid and legally binding obligation of the Issuer enforceable against the
Issuer in accordance with its terms, except as enforceability may be limited by
bankruptcy, insolvency, reorganization or other similar laws affecting the
enforcement of creditors’ rights generally and by general principles of equity,
regardless of whether enforceability is considered in a proceeding in equity or
at law.

 

(e)           The Issuer has all
necessary limited liability company power and authority to execute and deliver
this Agreement and the other Series 2010-2 Transaction Documents to which it is
a party; and the Issuer is and will continue to be authorized to perform its
obligations under the Indenture, this Agreement and the other Series 2010-2
Transaction Documents.  The execution,
delivery and performance by the Issuer of this Agreement and the other Series 2010-2
Transaction Documents to which it is a party and the transactions thereunder do
not require any consent or approval of any Governmental Authority, stockholder
or any other Person, other than any such consents or approvals that have been
obtained on or prior to the 2010-2 Closing Date or 

 

6

 

which
the failure to obtain would not reasonably be expected to result in a Material
Adverse Change.

 

(f)            This Agreement is,
and each Series 2010-2 Transaction Document to which the Issuer is a party,
when duly executed and delivered by each of the parties thereto, will be, the
legal, valid and binding obligations of the Issuer, enforceable against the
Issuer in accordance with its terms, except as enforceability may be limited by
bankruptcy, insolvency or other similar laws of general application affecting
the enforcement of creditors’ rights or by general principles of equity limiting
the availability of equitable remedies.

 

(g)           This Agreement has
been duly and validly executed and delivered by the Issuer.

 

(h)           The execution,
delivery and performance of this Agreement and each of the other Series 2010-2
Transaction Documents by the Issuer and the execution, delivery and payment of
the Notes by the Issuer will not: (a) contravene any provision of the Issuer’s
certificate of formation or limited liability company agreement; or (b) assuming
the accuracy of the representations and warranties of the other parties hereto
or thereto and the performance by those parties of their agreements and
obligations herein or therein, contravene, conflict with or violate any
Applicable Law or regulation, or any order, writ, judgment, injunction, decree,
determination or award of any Governmental Authority having jurisdiction over
the Issuer; or (c) violate or result in the breach of, or constitute a default
under the Indenture, the other Series 2010-2 Transaction Documents, any other
indenture or other loan or credit agreement, or other agreement or instrument
to which the Issuer is a party or by which the Issuer, or its property and
assets may be bound or affected; except for, in the cases of clauses (a), (b) or
(c) above, any such contravention, conflict, violation, breach or default that
would not, individually or in the aggregate, reasonably be expected to result
in a Material Adverse Change.

 

(i)            Except as
disclosed in the Offering Memorandum, there is no action, suit, proceeding or
investigation pending or, to the best knowledge of the Issuer, threatened
against it before any court, regulatory body, arbitrator, administrative agency
or other tribunal or governmental instrumentality (i) that asserts the
invalidity of this Agreement or any other Series 2010-2 Transaction Document,
or (ii) if determined adversely to the Issuer would individually or in the
aggregate have a material and adverse effect on the ability of the Issuer to
perform any of its obligations under the Series 2010-2 Transaction Documents to
which it is a party.

 

(j)            The Issuer does
not own any “margin security”, as that term is defined in Regulation U of the
Federal Reserve Board. None of the proceeds to the Issuer of the Notes will be
used, directly or indirectly, for the purpose of purchasing or carrying any
margin security, for the purpose of reducing or retiring any Indebtedness which
was originally incurred to purchase or carry any margin security or for any
other purpose which might cause any of the loans under the Series 2010-2 Supplement
to be considered a “purpose credit” within the meaning of Regulations T, U and
X.  The Issuer will not take or permit
any agent acting on its behalf to take any action which might cause the Notes
or any document or instrument delivered by the Issuer pursuant to the Series 2010-2
Supplement to violate any regulation of the Federal Reserve Board.

 

(k)           The Issuer is not:
an “investment company,” or an “affiliated person” of, or a “promoter” or “principal
underwriter” for, an “investment company,” as such terms are defined 

 

7

 

in
the Investment Company Act. The issuance of the Notes hereunder and the
application of the proceeds thereof by the Issuer and the performance of the
transactions contemplated by the Indenture, the Series 2010-2 Supplement and
the other Series 2010-2 Transaction Documents will not violate any provision of
the Investment Company Act, or any rule, regulation or order issued by the
Securities and Exchange Commission thereunder.

 

(l)            None of the
Issuer, any of its Affiliates or any Person acting on its or their behalf has
engaged in any directed selling efforts (as that term is defined in Regulation
S) with respect to any Notes (provided that no representation is made as to the
actions of the Initial Purchaser or any Person acting on its behalf).  The Issuer, its Affiliates and any Person
acting on its or their behalf (provided that no representation is made as to
the actions of the Initial Purchaser or any Person acting on its behalf) have
complied with the offering restrictions and the requirements of Regulation S in
connection with any offering of Notes outside the United States.

 

(m)          Assuming the
representations and warranties of the Initial Purchaser in Section 9 are true and assuming the
compliance by the Initial Purchaser with its covenants and agreements set forth
herein, it is not necessary to register any of the Notes under the Act or to
qualify the Indenture under the Trust Indenture Act of 1939, as amended, in
connection with the initial sale of the Notes to the Initial Purchaser in the
manner contemplated by this Agreement or for the initial resale of the Notes by
the Initial Purchaser in the manner contemplated by this Agreement.

 

(n)           On the date hereof
and the Closing Date, (i) each of the representations and warranties of the
Issuer that is set forth in this Agreement, the Indenture or the other Series 2010-2
Transaction Documents is and shall be true and correct in all material respects
(except to the extent that such representations or warranties specifically
relate to an earlier date), and (ii) the Issuer is not and shall not be in
breach, in any material respect, of any covenant or agreement set forth in this
Agreement, the Indenture or any other Series 2010-2 Transaction Document.

 

(o)           No Event of
Default or Early Amortization Event has occurred and is continuing.  No event or condition that with notice or the
passage of time (or both) could reasonably be expected to constitute an Event
of Default or Early Amortization Event has occurred or is continuing.

 

(p)           The Notes meet the
eligibility requirements of Rule 144A(d)(3) of the Act.

 

(q)           Neither the Issuer
nor any of its Affiliates has purchased, or is purchasing, any Notes.

 

(r)            The Issuer has not
engaged in any form of general solicitation or general advertising in
connection with the offer or sale of the Notes (as those terms are used in
Regulation D under the Act).

 

(s)           As of the Closing
Date, the representations and warranties made by the Issuer in the Transaction
Documents or made by the Issuer in any certificate delivered pursuant to the
Transaction Documents are true and correct in all material respects unless such
representation or warranty relates solely to an earlier date in which case such
information shall be true and correct on such earlier date.

 

8

 

 

(t)            Except for the
Initial Purchaser, neither the Issuer nor the Manager has employed or retained
a broker, finder, commission agent or other person in connection with the sale
of the Notes, and neither the Issuer nor the Manager is under any obligation to
pay any broker’s fee or commission in connection with such sale.

 

(u)           The Issuer agrees
that it and each of its Affiliates will not offer or sell the Notes in the
United States by means of any form of general solicitation or general
advertising within the meaning of Rule 502(c) under the Act, including, but not
limited to (i) any advertisement, article, notice or other communication
published in any newspaper, magazine or similar media or broadcast over
television or radio, or (ii) any seminar or meeting whose attendees have been
invited by any general solicitation or general advertising.  The Issuer agrees, with respect to resales
made in reliance on Rule 144A of any of the Notes, to deliver either with the
confirmation of such resale or otherwise prior to settlement of such resale a
notice to the effect that the resale of such Notes has been made in reliance
upon the exemption from the registration requirements of the Securities Act
provided by Rule 144A.

 

SECTION 3A.       Representations and Warranties of the Manager.  The Manager represents and warrants to the
Initial Purchaser that as of the date hereof and as of the Closing Date: (i) each
of the representations and warranties of the Manager that is set forth in the Series
2010-2 Transaction Documents to which it is a party is and shall be true and
correct in all material respects (unless such representation or warranty
specifically relates to an earlier date in which case it will be true and
correct in all material respects as of such earlier date), and (ii) the Manager
is not and shall not be in breach, in any material respect, of any of its
covenants or agreements set forth in this Agreement or any other Series 2010-2
Transaction Document to which it is a party.

 

SECTION
4.           Purchase,
Sale and Delivery of the Notes.  On the basis of the representations,
warranties, agreements and covenants herein contained and subject to the terms
and conditions herein set forth, Issuer agrees to sell to the Initial
Purchaser, and the Initial Purchaser agrees to purchase from the Issuer, on the
Closing Date, the principal amount of the Notes set forth on Schedule I hereto
opposite the name of such respective Initial Purchaser.  The Notes are to be purchased by the Initial
Purchaser at a purchase price equal to 100% of the aggregate principal amount
thereof.  Except for any Notes issued to
Institutional Accredited Investors which Notes shall be issued as Definitive
Notes, the Notes shall be Book-Entry Notes, and shall be registered in the name
of Cede & Co., as nominee of The Depository Trust Company. The delivery of
and payment for the Notes shall be made at the offices of SNR Denton LLP, at
10:00 a.m., New York time on October 19, 2010 or at such other place, time or
date as the Initial Purchaser and the Issuer may agree upon, such time and date
of delivery against payment being herein referred to as the “Closing Date”. The Issuer shall make
copies of the Notes available for checking by the Initial Purchaser at the
offices of the Initial Purchaser at least 24 hours prior to the Closing Date.
The purchase price of the Notes paid by the Initial Purchaser shall be remitted
by wire transfer to the Indenture Trustee.

 

SECTION
5.           Offering
by the Initial Purchaser.

 

(a)           The Initial
Purchaser proposes to make an offering of the Notes, upon the terms set forth
in the Offering Memorandum, as soon as practicable after this Agreement is
entered into 

 

9

 

and
as in its judgment is advisable. During the period from the date of this
Agreement until the earlier of (i) the date on which the Initial Purchaser
shall have completed the initial resale of all of the Notes and (ii) 90 days
after the date of this Agreement, the Issuer agrees to reasonably assist the
Initial Purchaser in any marketing of the Notes and (promptly upon request) to
provide all information reasonably deemed necessary by the Initial Purchaser in
such marketing. In addition, during such period the Issuer shall use
commercially reasonable efforts to make appropriate officers and representatives
of the Issuer available to participate in information meetings for potential
investors at such times and places as the Initial Purchaser may reasonably
request.

 

(b)           The Issuer
acknowledges and agrees that the Initial Purchaser is acting solely in the
capacity of an arm’s length contractual counterparty to the Issuer with respect
to the offering of the Notes contemplated hereby (including in connection with
determining the terms of the offering) and not as a financial advisor or a
fiduciary to, or an agent of, the Issuer or any other Person.  Additionally, the Initial Purchaser is not
advising the Issuer or any other Person as to any legal, tax, investment,
accounting or regulatory matters in any jurisdiction.  The Issuer shall consult with its own
advisors concerning such matters and shall be responsible for making its own
independent investigation and appraisal of the transactions contemplated
hereby, and the Initial Purchaser shall have no responsibility or liability to
the Issuer with respect thereto.  Any
review by the Initial Purchaser of the Issuer, the transactions contemplated
hereby or other matters relating to such transactions will be performed solely
for the benefit of the Initial Purchaser and shall not be on behalf of the
Issuer.

 

(c)           The Issuer
acknowledges and agrees that:

 

(i)            the Issuer has been advised that the
Initial Purchaser and its Affiliates are engaged in a broad range of
transactions which may involve interests that differ from those of the Issuer
and that the Initial Purchaser has no obligation to disclose such interests and
transactions to the Issuer by virtue of any fiduciary, advisory or agency
relationship; and

 

(ii)           the Issuer waives, to the fullest
extent permitted by law, any claims it may have against the Initial Purchaser
for breach of fiduciary duty or alleged breach of fiduciary duty and agree that
the Initial Purchaser shall have no liability (whether direct or indirect) to
the Issuer in respect of such a fiduciary duty claim or to any Person asserting
a fiduciary duty claim on behalf of or in right of the Issuer, including
stockholders, employees or creditors of the Issuer.

 

SECTION 6.           Covenants of the Issuer.  The Issuer covenants and agrees with the
Initial Purchaser that:

 

(a)           The Issuer shall
not amend or supplement the Offering Memorandum or any amendment thereof or
supplement thereto unless the Initial Purchaser previously shall have been
advised thereof and been furnished a copy thereof prior to the proposed
amendment or supplement and shall not have reasonably objected in writing
within five (5) Business Days after being furnished a copy thereof.  If, at any time during the period beginning
on the date hereof and ending on the earlier of (i) the date on which Initial
Purchaser shall have completed the 

 

10

 

initial
resale of all of the Notes and (ii) 90 days after the date of this Agreement,
any event occurs as a result of which the Preliminary Offering Memorandum or
the Offering Memorandum as then amended or supplemented would include an untrue
statement of a material fact or omit to state any material fact necessary in
order to make the statements therein, in the light of the circumstances under
which they were made, not misleading, or if it is necessary at any such time to
amend or supplement the Preliminary Offering Memorandum or the Offering
Memorandum to comply with any Applicable Law, the Issuer shall promptly notify
the Initial Purchaser thereof and shall prepare and deliver to the Initial
Purchaser, at the expense of the Issuer, an amendment of or supplement to the
Preliminary Offering Memorandum or the Offering Memorandum which will correct
such statement or omission or effect such compliance.

 

In
the event that the Initial Purchaser shall incur any costs in connection with
the reformation of a contract of sale with any investor that received a
Preliminary Offering Memorandum that contains or contained any untrue statement
of material fact or failed to state a material fact necessary in order to make the
statements therein, in the light of the circumstances under which they were
made, not misleading, the Issuer and the Manager jointly and severally agree to
reimburse the Initial Purchaser for such costs, provided that the untrue
statement or omission in such Preliminary Offering Memorandum did not relate
solely to Initial Purchaser Information (as defined in Section 13 hereof).

 

(b)           The Issuer will
use its reasonable efforts to arrange for qualification or exemption of the
Notes for sale under the securities or “Blue Sky” laws of any state that the
Initial Purchaser shall reasonably request and shall pay all reasonable
expenses (including reasonable fees and disbursements of counsel) in connection
with the qualification or exemption and in connection with the determination of
the eligibility of the Notes for investment under the laws of the jurisdictions
that the Initial Purchaser may reasonably designate and will continue such
qualifications or exemptions in effect in such jurisdictions until the earlier
of (x) the date on which Initial Purchaser shall have completed the initial
resale of all of the Notes and (y) 90 days after the date of this Agreement,
provided that the Issuer will not be required to (i) qualify to do business in
any jurisdiction it is not now so qualified, (ii) take any action that would
subject it to service of process in suits (other than those suits arising out
of the offering or sale of the Notes) in any jurisdiction where it is not now
so subject or (iii) subject it to taxation in excess of a nominal dollar amount
in any such jurisdiction where it is not now so subject.

 

(c)           The Issuer shall,
without charge, provide to the Initial Purchaser as many copies of the
Preliminary Offering Memorandum and the Offering Memorandum and any amendment
thereof or supplement thereto as the Initial Purchaser may reasonably request.

 

(d)           The Issuer (or any
of its “affiliates” as defined in Regulation D under the Act), directly or
through any agent, shall not sell, offer for sale or solicit offers to buy or
otherwise negotiate in respect of any “security” (as defined in the Act) that
is integrated with the sale of the Notes hereunder in a manner that would cause
the exemption afforded by Section 4(2) of the Act or the safe harbor of
Regulation S thereunder to cease to be applicable to the offer and sale of the
Notes hereunder.

 

(e)           Neither the Issuer
nor any of its Affiliates shall contact or solicit potential investors to
purchase any Note, engage any Person to assist in the placement or sale of the
Notes 

 

11

 

or
sell any Notes to any Person, in the case of each of the foregoing, other than
the Initial Purchaser except as consented to in writing by the Initial
Purchaser.

 

(f)            The Issuer shall
cause the Notes to be eligible for clearance and settlement through The
Depository Trust Company.

 

(g)           Neither the Issuer
nor any of its Affiliates shall sell or otherwise transfer any Notes that have
been acquired by any of them.

 

(h)           Except with
respect to the Notes to be issued on the Closing Date, during the period
commencing on the date hereof and ending on the thirtieth (30th) day after the
Closing Date, the Issuer shall not issue any U.S. dollar denominated debt
securities similar to the Notes which are either placed or syndicated by the
Issuer or any of its Affiliates in the international or U.S. capital markets,
directly or on their behalf, in any manner which could in the sole judgment of
the Initial Purchaser have a detrimental effect on the successful offering,
sale or resale of the Notes unless mutually agreed to in writing by the Initial
Purchaser and the Issuer.

 

(i)            During the period
of two years after the Closing Date, the Issuer will not be or become an
open-end investment company, unit investment trust or face-amount certificate
company that is or is required to be registered under Section 8 of the
Investment Company Act.

 

(j)            If the rating
assigned to the Notes is dependent upon the delivery to the Rating Agency of
the executed Series 2010-2 Transaction Documents, the Issuer shall deliver such
documents to the Rating Agency within thirty (30) days after the Closing Date.

 

(k)           The Issuer agrees
that, in order to render the Notes eligible for resale pursuant to Rule 144A
under the Act, while any of the Notes remain outstanding, to make available,
upon request, to any Noteholder or prospective purchasers of Notes the
information specified in Rule 144A(d)(4) (unless the Issuer is then subject to Section
13 or 15(d) of the 1934 Act).

 

(l)            Neither the Issuer
nor the Manager will take or permit, or cause any of their Affiliates to take,
any action whatsoever which would have the effect of requiring the registration
under the Act of the offering or sale of the Notes contemplated by the
Preliminary Offering Memorandum and the Offering Memorandum.

 

(m)          So long as any of
the Notes are outstanding, the Issuer will furnish to the Initial Purchaser, by
first-class mail, as soon as practicable: 
(i) copies of all documents required to be distributed to the
Noteholders; and (ii) from time to time, such other information concerning the
Issuer or the Manager as the Initial Purchaser may reasonably request.

 

SECTION
7.           Expenses;
Fees.  (a)  Each of the Manager and the Issuer jointly and
severally agrees to pay all reasonable and documented costs and expenses
incident to the purchase and resale of the Notes by the Initial Purchaser and
the transactions contemplated by this Agreement and the Series 2010-2
Transaction Documents, whether or not the transactions contemplated herein or
therein are consummated or this Agreement is terminated pursuant to Section 12,
including all reasonable and documented costs and expenses incident to (i) the
preparation, printing, word processing, distribution or other production of
documents with respect to such transactions, including any costs in respect of
the Series 2010-2 Transaction 

 

12

 

Documents, the Preliminary Offering Memorandum and
the Offering Memorandum and any amendment thereof or supplement thereto, and
any “Blue Sky” memorandum, (ii) all arrangements relating to the delivery to
the Initial Purchaser of copies of the foregoing documents, (iii) the
reasonable and documented fees and disbursements of counsel, accountants and
other consultants, experts and advisors retained by the Initial Purchaser or
any of its Affiliates (including, but not limited to the fees, costs and
expenses described under Section 7(b) herein) (provided that the fees of
counsel to the Initial Purchaser shall not exceed $200,000), (iv) preparation,
issuance, transfer and delivery of the Notes, (v) the Indenture Trustee’s
reasonable and documented fees and expenses, including reasonable and
documented expenses of counsel retained by the Indenture Trustee, (vi) the
qualification of the Notes under state securities and “Blue Sky” laws
(including filing fees and fees) to the extent such qualification is required
by this Agreement, (vi) reasonable and documented expenses of the Initial
Purchaser in connection with any meetings with prospective investors in the
Notes, (vii) all reasonable and documented expenses and fees incurred in
connection with causing the Notes to be eligible for clearance and settlement
through The Depository Trust Company, and (viii) fees charged by S&P for
the rating of the Notes.  The Issuer
acknowledges that the Initial Purchaser is not responsible for any of the fees,
costs and expenses contemplated by this subsection.

 

(b)           Each of the
Manager and the Issuer jointly and severally agrees to pay or reimburse, on a
timely basis, the Initial Purchaser for all reasonable and documented out of
pocket fees, costs and expenses incurred by the Initial Purchaser or third
parties selected by the Initial Purchaser (which may include an Affiliate of
the Initial Purchaser) in connection with the conduct of a due diligence
examination of the Containers and the Related Transferred Assets, and of the
activities of the Issuer and any of its Affiliates with respect to the Managed
Containers and the Related Assets whether or not the transactions contemplated
herein are consummated.  The Issuer
agrees that these fees may include reasonable and documented fees and expenses
incurred in connection with time spent at the offices of the Issuer, the
Manager, or any of their Affiliates and in preparation of reports relating
thereto.

 

(c)           The amounts
payable under each clause of this section shall be cumulative and payment of
amounts referred to in one clause shall not reduce amounts payable under
another clause.

 

SECTION 8.           Conditions of the Initial
Purchaser’s Obligation.  The obligations of the Initial Purchaser to
purchase and pay for Notes in an amount equal to the principal amount set forth
on Schedule I hereto opposite its name shall, in its sole discretion, be
subject to the following conditions:

 

(a)           The Issuer shall
have (i) caused all Uniform Commercial Code financing statements (or documents
of similar import) required to perfect the first priority security interest of
the Indenture Trustee pursuant to the Indenture in the Collateral and related
items, in each case, to be duly filed in the manner required by the laws of
each appropriate jurisdiction.

 

(b)           All corporate and
other proceedings in connection with the transactions contemplated hereby and
by the Series 2010-2 Transaction Documents and all documents and Notes incident
thereto shall be reasonably satisfactory in form and substance to the Initial
Purchaser and its counsel, and the Initial Purchaser shall have received any
other documents 

 

13

 

incident
to the transactions contemplated hereby and by the Series 2010-2 Transaction
Documents that the Initial Purchaser or its counsel shall reasonably
request.  The Initial Purchaser or its
counsel shall have received on the Closing Date certified copies of all
documents evidencing corporate or other organizational action taken by the
Issuer, the Manager and the Indenture Trustee to approve the execution and
delivery of this Agreement and the Series 2010-2 Transaction Documents to which
they are a party and the consummation of the transactions contemplated hereby
and thereby.

 

(c)           Immediately prior
to the sale of the Notes to the Initial Purchaser, the Notes shall have been
executed by the Issuer and authenticated by or on behalf of the Indenture
Trustee, and this Agreement and each of the Series 2010-2 Transaction Documents
that are to be executed and delivered on or prior to the Closing Date shall
have been executed and delivered.  The
Initial Purchaser and the Indenture Trustee shall have received on the Closing
Date a fully executed counterpart original and any required conformed copies of
all Series 2010-2 Transaction Documents delivered on or prior to the Closing
Date, and the Indenture Trustee shall have received the Notes.

 

(d)           The Initial
Purchaser or its counsel shall have received on the Closing Date signature and
incumbency certificates executed by Authorized Signatories of the Issuer and
the Indenture Trustee certifying the identities and signatures of those
officers who executed each of this Agreement and the other Series 2010-2
Transaction Documents delivered in connection with Series 2010-2 to which the
Issuer or the Indenture Trustee, as the case may be, is a party.

 

(e)           The Notes shall
have been rated “A” by S&P, such rating shall be in full force and effect
and the Initial Purchaser shall have received letter(s) from S&P dated on
or before the Closing Date to such effect.

 

(f)            Subsequent to the
execution and delivery of this Agreement, there shall not have occurred (i) any
material adverse change, or any development involving a prospective material
adverse change, in the condition (financial or otherwise) or in the business,
properties or operations of the Issuer or the Manager (collectively, a “TAL
Person”), (ii) a material suspension or material limitation of trading in
securities generally on the New York Stock Exchange, or the establishment of
minimum prices on the New York Stock Exchange, (iii) a general moratorium on
commercial banking activities declared by any state of the United States or
United States authorities, (iv) any material outbreak or material escalation of
hostilities, insurrection or armed conflict in which the United States of
America is involved, any declaration of war by Congress or any other national
or international calamity or emergency that in the sole judgment of the Initial
Purchaser makes it impractical or inadvisable to purchase the Notes or to
proceed with the offering, sale, resale or delivery of the Notes, or (v) any
material adverse change in financial, political or economic conditions that in
the sole judgment of the Initial Purchaser makes it impractical or inadvisable
to purchase the Notes or to proceed with the offering, sale, resale or delivery
of the Notes.

 

(g)           On the Closing Date,
the Initial Purchaser shall have received opinions, dated the Closing Date,
addressed to the Initial Purchaser and in form and substance reasonably
satisfactory to its counsel, of (i) Vedder Price P.C., counsel to the Issuer
and the Manager, as to (A) perfection of the Indenture Trustee’s interest in
the Collateral and other UCC matters, (B) 

 

14

 

“true
sale”, substantive consolidation, (C) corporate, tax and other matters, and (D)
securities laws matters; (ii) internal counsel of the Manager as to certain
matters relating to the Manager; (iii) counsel to the Indenture Trustee, as to
certain matters relating to the Indenture Trustee; and (iv) such opinion
letters, if any, as shall be delivered to the Rating Agency with respect to
matters not addressed in clauses (i) through
(iv) above.  In addition to the matters set forth above,
the opinion letter of Vedder Price P.C. shall also include a statement to the
effect that, during the preparation of the Offering Memorandum, such counsel
has participated in conferences with officers and other representatives of the
independent public accountants for the Issuer, representatives of the Initial
Purchaser and counsel for the Initial Purchaser, at which conferences the content
of the Offering Memorandum and related matters were discussed.  Based upon such participation but without
independent review or verification, and without passing upon, and without
assuming responsibility for, the accuracy, completeness or fairness of the
statements contained in the Offering Memorandum, no facts have come to such
counsel’s attention which leads it to believe that, at the time the Offering
Memorandum (except as to financial statements and related notes, structuring
assumptions, financial, accounting and other statistical data and supported
schedules included therein or omitted therefrom, as to which such counsel need
express no opinion) contained any untrue statement of material fact or omitted
to state any material fact required to be stated therein or necessary to make
the statements therein, in light of the circumstances in which they were made,
not misleading.

 

(h)           The Initial
Purchaser shall have received a letter from an Independent Accountant dated the
date of the Preliminary Offering Memorandum (with respect to the Preliminary
Offering Memorandum) and the Closing Date (with respect to the Offering
Memorandum), in form and substance satisfactory to the Initial Purchaser and
its counsel, containing statements and information of the type ordinarily
included in accountants’ “comfort letters” with respect to information
contained in the Preliminary Offering Memorandum and the Offering Memorandum.

 

(i)            The
representations and warranties of the Issuer and the Manager contained in this
Agreement and in the Series 2010-2 Transaction Documents to which it is a party
shall be true and correct in all material respects as of the date hereof and as
of the Closing Date; each of the Issuer and the Manager shall have performed in
all material respects all covenants and agreements and satisfied in all
material respects all conditions on its part to be performed or satisfied
hereunder and under the Series 2010-2 Transaction Documents on or prior to the
Closing Date.

 

(j)            The Initial
Purchaser shall have received a certificate of each TAL Person, dated the
Closing Date, signed on behalf of each TAL Person (as applicable) by its
President or any Vice President and its Chief Financial Officer or if such
entity has none, its Treasurer, to the effect that, to the actual knowledge of
such person after reasonable inquiry:

 

(i)            The representations and warranties
of such TAL Person contained in this Agreement and in the Series 2010-2
Transaction Documents to which such TAL Person is a party are true and correct in
all material respects as of the Closing Date as if made on such date, such TAL
Person has performed in all material respects all covenants and agreements and
satisfied in all material respects all conditions on its respective part to be
performed or satisfied hereunder and under the other Series 2010-2 Transaction
Documents on or prior to the Closing Date, and since the date of this
Agreement, there 

 

15

 

has been no material
adverse change in the business, condition (financial or otherwise) or results
of operations of such TAL Person.

 

(ii)           Except as set forth in the Offering
Memorandum, since the date of this Agreement, there has not occurred any
material adverse change, or any development involving a prospective material
adverse change, in the condition (financial or otherwise) or in the business,
properties or operations of such TAL Person.

 

(k)           The Initial
Purchaser shall have received confirmation that the Notes have been accepted
for clearance of secondary market trading by The Depository Trust Company.

 

(l)            The Offering
Memorandum shall have been printed and an electronic copy distributed to the
Initial Purchaser not later than 5:00 p.m., New York time on October 13, 2010,
with paper copies distributed to the Initial Purchaser promptly thereafter, but
not later than 5:00 p.m. on October 13, 2010.

 

(m)          The Initial
Purchaser shall have received from the Issuer a completed and executed Asset
Base Certificate as of the Closing Date, evidencing that no Asset Base
Deficiency shall exist on such date (after giving effect to the transactions
occurring on the Closing Date pursuant to the Series 2010-2 Transaction
Documents).

 

(n)           The Closing Date
shall have occurred.

 

(o)           This Agreement has
not terminated pursuant to Section 12.

 

The
Issuer shall furnish to the Initial Purchaser and the Rating Agency (i) such
other agreements, instruments, documents, opinions, certificates, letters and
schedules as the Initial Purchaser or their counsel or any Rating Agency or its
counsel reasonably may request, and (ii) originals and conformed copies of all
opinions, certificates, letters, schedules, agreements, documents and
instruments delivered pursuant to this Agreement in the quantities that the
Initial Purchaser or the Rating Agencies, as the case may be, may reasonably
request.

 

SECTION
9.           Representations,
Warranties and Covenants of the Initial Purchaser.  The Initial Purchaser represents and warrants
and covenants to the Issuer that:

 

(a)           The Initial
Purchaser is an Institutional Accredited Investor.

 

(b)           The Initial
Purchaser acknowledges that the Notes have not been registered under the Act
and may not be offered or sold within the United States or to, or for the
account or benefit of, U.S. persons except pursuant to an exemption from the
registration requirements of the Act. 
The Initial Purchaser represents and agrees that it has offered and sold
the Notes, and will offer and sell the Notes only (i) as part of its
distribution at any time and (ii) otherwise until 40 days after the later of
the commencement of the offering and the Closing Date, only in accordance with Rule
903 or Rule 144A or to Institutional Accredited Investors pursuant to an
exemption from the registration requirements of the Act.  Accordingly, neither the Initial Purchaser
nor its Affiliates, nor any persons acting on its or their behalf, have engaged
or will engage in any directed selling efforts with respect to the Notes, and
the Initial Purchaser, its Affiliates and all persons acting on its or their
behalf have complied and will comply with the 

 

16

 

offering
restrictions requirement of Regulation S, Rule 144A and will otherwise only
offer and sell the Notes pursuant to an exemption from the registration
requirements of the Act.  The Initial
Purchaser will not offer or sell, and has not offered or sold any Notes except (x)
within the United States to persons reasonably believed by it to be (i) Qualified
Institutional Buyers in reliance on the exemption from registration provided by
Rule 144A or (ii) Institutional Accredited Investors that deliver a Purchaser
Letter in the form of Annex A to the Offering Memorandum and (y) to certain
non-U.S. persons outside the United States within the meaning of, and in compliance
with, Regulation S.  The Initial
Purchaser agrees that, at or prior to confirmation of sale of the Notes, other
than a sale pursuant to Rule 144A, the Initial Purchaser will have sent to each
distributor, dealer or person receiving a selling concession, fee or other
remuneration that purchases the Notes from it during the restricted period a
confirmation or notice (which notice may be contained in the Preliminary
Offering Memorandum) to substantially the following effect:

 

“The
Series 2010-2 Notes are being transferred to the purchaser in a transaction not
involving any public offering in the United States within the meaning of the
Securities Act, and that, if in the future the purchaser decides to resell,
pledge or otherwise transfer any Series 2010-2 Notes, such Series 2010-2 Notes
may be resold, pledged or transferred only in accordance with applicable state
securities laws and (i) in a transaction meeting the requirements of Rule 144A,
to a person that the transferor reasonably believes is a Qualified
Institutional Buyer) and to whom notice is given that the resale, pledge or
transfer is being made in reliance on Rule 144 A, (ii) (a) to a person that is
an Institutional Accredited Investor, is taking delivery of such Note in an
amount of at least $250,000 (or, if greater, the U.S. dollar equivalent of
50,000 Euros) and delivers a Purchaser Letter in the form of Annex A to the
Offering Memorandum to the Indenture Trustee, or (b) to a person that is taking
delivery of such Note pursuant to a transaction that is otherwise exempt from
the registration requirements of the Securities Act, as confirmed in an opinion
of counsel addressed to the Indenture Trustee and the Issuer, which counsel and
opinion are satisfactory to the Indenture Trustee and the Issuer, or (iii) in
an offshore transaction in accordance with Rule 903 or 904 of Regulation S.

 

(c)           The Initial
Purchaser agrees that it and each of its Affiliates will not offer or sell the
Notes in the United States by means of any form of general solicitation or
general advertising within the meaning of Rule 502(c) under the Act, including,
but not limited to (i) any advertisement, article, notice or other
communication published in any newspaper, magazine or similar media or
broadcast over television or radio, or (ii) any seminar or meeting whose
attendees have been invited by any general solicitation or general
advertising.  The Initial Purchaser
agrees, with respect to resales made in reliance on Rule 144A of any of the
Notes, to deliver either with the confirmation of such resale or otherwise
prior to settlement of such resale a notice to the effect that the resale of
such Notes has been made in reliance upon the exemption from the registration
requirements of the Securities Act provided by Rule 144A.

 

17

 

 

(d)           The Initial
Purchaser has not engaged in any form of general solicitation or general
advertising in connection with the offering or sale of the Notes (as those
terms are used in Regulation D under the Act).

 

(e)           The Initial
Purchaser is not acquiring the Notes with the assets of an employee benefit
plan within the meaning of the ERISA or a plan as defined in Section 4975 of
the Code.

 

(f)            The acquisition
and holding of the Note will not give rise to a nonexempt prohibited
transaction under Section 406(a) of ERISA or Section 4975 of the Code.

 

(g)           The Initial
Purchaser will not offer or sell any Note except on the terms contemplated by
the Offering Memorandum and in accordance with all Applicable Laws.

 

(h)           The Initial
Purchaser agrees that it and each of its Affiliates has not entered and will
not enter into any contractual arrangement with respect to the distribution of
the Notes except for any such arrangements with the other Initial Purchaser or
Affiliates of the other Initial Purchaser or with the prior written consent of
the Issuer.

 

(i)            The Initial
Purchaser represents and agrees that (i) it has only communicated or caused to
be communicated and will only communicate or cause to be communicated any
invitation or inducement to engage in investment activity (within the meaning
of section 21 of the Financial Services and Markets Act 2000 (the “FSMA”))
received by it in connection with the issue or sale of any Notes in
circumstances in which section 21(1) of the FSMA does not apply to the Issuer;
and (ii) it has complied and will comply with all applicable provisions of the
FSMA with respect to anything done by it in relation to the Notes in, from or
otherwise involving the United Kingdom.

 

SECTION 10.         Indemnification and
Contribution.  (a) Each
of the Manager and the Issuer will jointly and severally indemnify and hold
harmless the Initial Purchaser, its Affiliates, directors, officers, employees,
agents, representatives and the Person who controls (within the meaning of Section
15 of the Act) the Initial Purchaser (collectively the “Initial Purchaser
Indemnitees”) against any losses, claims, damages or other liabilities, costs
and expenses (any losses, claims, damages, liabilities, costs and expenses
being referred to collectively as “Losses” and
individually as a “Loss”) to which
any Initial Purchaser Indemnitee may become subject, insofar as any Losses (or
claims, actions, suits or proceedings in respect thereof) relate to, arise out
of or are based upon:

 

(i)            any untrue statement or alleged
untrue statement of any material fact contained in the Preliminary Offering
Memorandum, the Offering Memorandum or any amendment of or supplement to any of
the foregoing, or

 

(ii)           the omission or alleged omission to
state, in the Preliminary Offering Memorandum, the Offering Memorandum or any
amendment of or supplement to any of the foregoing, a material fact required to
be stated therein or necessary to make the statements therein, in the light of
the circumstances under which they were made, not misleading,

 

18

 

and
in each case shall reimburse, as incurred, each Initial Purchaser Indemnitee
for any legal or other out-of-pocket fees, charges or expenses, in each case,
reasonably incurred by any Initial Purchaser Indemnitee in connection with
investigating, preparing, defending against or appearing as a third-party
witness in connection with any Loss, litigation, claim, suit, proceeding or
action, whether commenced or threatened (any such litigation, claims, suits, proceedings,
and actions being referred to collectively as “Proceedings”
and individually as a “Proceeding”);
provided, however, that neither
the Issuer nor the Manager shall be liable in any case under this Section 10 to the extent that any Loss (or
claims, actions, suits or proceedings in respect thereof) arises out of or is
based upon any untrue statement or alleged untrue statement in, or omission or
alleged omission from, the Preliminary Offering Memorandum or the Offering
Memorandum or any amendment or supplement thereto that, in the case of each of
the foregoing, is made in reliance upon and in conformity with the Initial
Purchaser Information (as such term is defined in Section 13(a)); provided,
further, however, that the foregoing indemnity agreement with
respect to any Loss (or claims, actions, suits or proceedings in respect
thereof) shall not inure to the benefit of the Initial Purchaser Indemnitee
with respect to any Loss (or claims, actions, suits or proceedings in respect
thereof) arising out of or based upon (x) any untrue statement or alleged
untrue statement of any material fact contained in the Preliminary Offering
Memorandum or the Offering Memorandum or any amendment of or supplement to any
of the foregoing, or (y) the omission or alleged omission to state in the
Preliminary Offering Memorandum or the Offering Memorandum or any amendment of
or supplement to any of the foregoing, a material fact required to be stated
therein or necessary to make the statements therein, in the light of the circumstances
under which they were made, not misleading, if: (1) the Issuer furnished
sufficient copies of the Offering Memorandum or any amendment thereof or
supplement thereto on a timely basis to permit delivery of the Offering
Memorandum or any amendment thereof or supplement thereto to all Persons
purchasing notes from the Initial Purchaser in the initial resale of such notes
(such Persons “Initial Resale Purchasers”) at or prior to the written
confirmation of the sale of the Notes to such Person; (2) the Initial Resale
Purchaser asserting such losses, claims, damages or liabilities purchased Notes
in the initial resale from the Initial Purchaser and a copy of the Offering
Memorandum or any amendment thereof or supplement thereto was not sent or given
by or on behalf of the Initial Purchaser to such Initial Resale Purchaser; and (3)
the Offering Memorandum or such amendment thereof or supplement thereto would
have cured the defect giving rise to such Loss (or claims, actions, suits or
proceedings in respect thereof).

 

(b)           The Initial
Purchaser agrees to indemnify and hold harmless each of the Issuer, the
Manager, their respective directors, officers, employees, agents and
representatives and each Person, if any, who controls (within the meaning of Section
15 of the Act) the Issuer or the Manager against any reasonable and documented
Losses to which the Issuer, the Manager or any other such indemnified party may
become subject, insofar as the Losses (or actions in respect thereof) arise out
of or are based upon:

 

(i)            any untrue statement or alleged
untrue statement of any material fact contained in the Preliminary Offering
Memorandum or the Offering Memorandum or any amendment of or supplement to any
of the foregoing to the extent, but only to the extent, that the untrue
statement or alleged untrue statement was made in reliance upon and in
conformity with the Initial Purchaser Information provided by the Initial
Purchaser, or

 

19

 

(ii)           the omission or alleged omission to
state in the Preliminary Offering Memorandum or the Offering Memorandum or any
amendment of or supplement to any of the foregoing, a material fact required to
be stated therein or necessary to make the statements therein, in the light of
the circumstances under which they were made, not misleading, to the extent,
but only to the extent, that the omission or alleged omission was made in
reliance upon and in conformity with the Initial Purchaser Information provided
by the Initial Purchaser,

 

and in each case shall reimburse, as incurred, each
indemnified party for any legal or other out-of-pocket fees, charges or
expenses, in each case, reasonably incurred by such indemnified party in
connection with investigating, preparing, defending against or appearing as a
third-party witness in connection with any Loss or Proceeding, whether
commenced or threatened.

 

(c)           Notwithstanding
any other provision of this Agreement, the Initial Purchaser’s indemnification
obligations shall be limited in amount to the aggregate of total compensation
received by it in connection with its duties as the Initial Purchaser of the
Notes, excluding any amounts received by the Initial Purchaser pursuant to subsection (a) of this Section 10.

 

(d)           Promptly after
receipt by an indemnified party under this Section
10 of notice of the commencement of any Proceeding for which an
indemnified party is entitled to indemnification under this Section 10, the indemnified party shall,
if a claim in respect thereof is to be made against the indemnifying party
under this Section 10, notify the
indemnifying party of the commencement thereof, but the failure to so notify
the indemnifying party shall not relieve it from any liability under subsection (a) or (b) of this Section 10 (as applicable) unless and except to the extent
that the failure to notify results in the forfeiture by the indemnifying party
of substantial rights and defenses. If any Proceeding is brought that involves
any indemnified party, and it notifies the indemnifying party of the commencement
thereof, the indemnifying party shall be entitled to participate therein and,
to the extent that it may elect by written notice delivered to the indemnified
party after receiving the aforesaid notice from such indemnified party, jointly
with any other indemnifying party similarly notified, to assume the defense
thereof, with counsel reasonably satisfactory to such indemnified party, and
after notice from the indemnifying party to such indemnified party, the
indemnifying party will not be liable to such indemnified party under this Section
10 for any legal or other expenses subsequently incurred by such indemnified
party in connection with the defense thereof other than reasonable and
documented costs of investigation. 
Notwithstanding the foregoing, in no event shall an indemnifying party,
in connection with any one such Proceeding or separate but substantially
similar or related Proceedings arising out of the same general allegations or
circumstances, be liable for the fees and expenses of more than one separate
firm of attorneys at any time for all indemnified parties, together with any
necessary local counsel.  If the
indemnifying party assumes the defense of any Proceeding, the indemnified party
shall have the right to employ separate counsel therein, and to participate in
the defense thereof, but the fees and expenses of its counsel shall be borne
exclusively by the indemnified party without any right or entitlement to
reimbursement by an indemnifying party except as otherwise provided in the preceding
sentence and in the preceding paragraph. 
No indemnifying party shall, without the prior written consent of the
indemnified party, effect any settlement of any pending or threatened action in
respect of which any indemnified party is or could have been a party and
indemnity could have been sought hereunder by such indemnified party unless
such settlement includes (i) an unconditional release of such 

 

20

 

indemnified
party from all liability on any claims that are the subject matter of such
action and (ii) does not include a statement as to or an admission of fault,
culpability or failure to act by or on behalf of any indemnified party.

 

(e)           In circumstances
in which the indemnity agreement provided for in the preceding subsections is
unavailable or insufficient to hold harmless an indemnified party in respect of
any Losses or Proceedings, each indemnifying party, in order to provide for
just and equitable contribution, shall contribute to the amount paid or payable
by the indemnified party as a result of Losses or Proceedings in such
proportion as is appropriate to reflect (i) the relative benefits received by
the indemnifying party or parties on the one hand and the indemnified party on
the other from the offering of the Notes or (ii) if the allocation provided by clause (i) is not permitted by Applicable
Law, not only such relative benefits but also the relative fault of the
indemnifying party or parties on the one hand and the indemnified party on the other
in connection with the statements or omissions or alleged statements or
omissions that resulted in Losses or Proceedings.  It is the parties’ intention that, to the
maximum extent permitted by Applicable Law, (A) the relative benefits received
by the Issuer on the one hand and the Initial Purchaser on the other shall be
deemed to be in the same proportion as the total proceeds from the offering
(before deducting expenses) of the Notes bear to the total compensation
received by the Initial Purchaser with respect to the offering, and (B) the
relative fault of the parties shall be determined by reference to, among other
things, whether the untrue or alleged untrue statement of a material fact or
the omission or alleged omission to state a material fact relates to
information supplied by the Issuer on the one hand, or the Initial Purchaser on
the other, the parties’ relative intent, knowledge, access to information and
opportunity to correct or prevent such statement or omission, and any other
equitable considerations appropriate in the circumstances.

 

The
Issuer and the Initial Purchaser agree that it would not be equitable if the
amount of contribution pursuant to this section were determined by pro rata or
per capita allocation or by any other method of allocation that does not take
into account the equitable considerations referred to in the preceding
paragraph.  Notwithstanding any other
provision of this Agreement, the Initial Purchaser shall not be obligated to make
contributions hereunder that in the aggregate exceed the total compensation
received by them in connection with its duties as Initial Purchaser of the
Notes, less the aggregate amount of any damages that they otherwise have been
required to pay by reason of the untrue or alleged untrue statements, or the
omissions or alleged omissions to state, a material fact.  No Person guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the Act) shall be
entitled to contribution from any Person who was not guilty of such fraudulent
misrepresentation.  For purposes of this
subsection, each Affiliate, director, officer, employee, agent and
representative of the Initial Purchaser and the Person who controls the Initial
Purchaser (within the meaning of Section 15 of the Act) shall have the same
rights to contribution as the Initial Purchaser, and each Affiliate, director,
officer, employee, agent and representative of the Issuer and each Person who
controls the Issuer (within the meaning of Section 15 of the Act), shall have
the same rights to contribution as the Issuer.

 

SECTION 11.         Survival; Scope of
Liability.  The
respective representations (as of the date made), warranties (as of the date
made), agreements, covenants, indemnities and other statements of the Issuer,
the Initial Purchaser and their respective officers set forth in this Agreement
or made by or on behalf of any of them, respectively, pursuant to this
Agreement shall remain in full force and effect, regardless of (a) any
investigation made by or on behalf of the Issuer or the 

 

21

 

Initial Purchaser or any of their respective
officers or directors, or any controlling Person referred to in Section 10 and (b) delivery of and payment
for the Notes or resale thereof. The respective agreements, covenants,
indemnities and other statements set forth in this Section 11 and in Sections
7, 10, 14, 15, 17, 18, 19, 20, 21, 22, 23, and 25 shall remain in full force and effect
regardless of any termination or cancellation of this Agreement.

 

SECTION 12.         Termination.  This Agreement may be terminated in the sole
discretion of the Initial Purchaser by notice to the Issuer given on or prior
to the Closing Date in the event that (A) any TAL Person shall have, in any
material respect, failed, refused or been unable to perform, all obligations on
its part to be performed hereunder at or prior thereto or (B) if, on or prior
to the Closing Date, there shall have occurred any of the events or conditions
set forth in Section 8(f) hereof.

 

Termination
of this Agreement pursuant to this Section 12
shall be without liability of any party to any other party except that the
Initial Purchaser shall be entitled to any fees, costs and expenses payable, in
each case in accordance with Section 7.

 

SECTION 13.         Supplied Information.  The Issuer acknowledges and agrees that the
information described in Schedule II hereto constitutes the only information
furnished by the Initial Purchaser to the Issuer for purposes of inclusion in
the Preliminary Offering Memorandum, the Offering Memorandum or any amendment
or supplement of or to any of the foregoing. “Initial
Purchaser Information” means the information described in Schedule
II hereto, but only to the extent that such information relates to the
respective Initial Purchaser.

 

SECTION 14.         Notices.  Unless otherwise provided herein, all notices
required under the terms and provisions hereof shall be in writing and either
delivered by hand, by mail or by facsimile, and any notice shall be effective
when received at the address or facsimile number (as applicable) specified
below:

 

	
  If to the Issuer:

  	
   

  	
  TAL Advantage IV LLC

  
	
   

  	
   

  	
  100
  Manhattanville Road

  
	
   

  	
   

  	
  Purchase,
  New York 10577-2135

  
	
   

  	
   

  	
  Attn:
  Jeffrey Casucci

  
	
   

  	
   

  	
  Email:
  jeffrey.casucci@talinternational.com

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  With
  a copy to:

  
	
   

  	
   

  	
  TAL
  International Container Corporation

  
	
   

  	
   

  	
  100
  Manhattanville Road

  
	
   

  	
   

  	
  Purchase,
  New York 10577-2135

  
	
   

  	
   

  	
  Attn:
  Jeffrey Casucci, Vice President and Treasurer

  
	
   

  	
   

  	
  Fax:
  914 697 2526

  
	
   

  	
   

  	
   

  
	
  If
  to the Manager:

  	
   

  	
  TAL
  International Container Corporation

  
	
   

  	
   

  	
  100
  Manhattanville Road

  
	
   

  	
   

  	
  Purchase,
  New York 10577-2135

  

 

22

 

	
   

  	
   

  	
  Attn:
  Jeffrey Casucci, Vice President and Treasurer

  
	
   

  	
   

  	
  Fax:
  914 697 2526

  
	
   

  	
   

  	
   

  
	
  If
  to the Initial Purchaser:

  	
   

  	
  Wells
  Fargo Securities, LLC

  
	
   

  	
   

  	
  301
  South College Street, D1053-082

  
	
   

  	
   

  	
  Charlotte,
  North Carolina 28288-0610

  
	
   

  	
   

  	
  Attention:
  Jessica Gray

  
	
   

  	
   

  	
  Facsimile
  Number:

  	
  (704)
  383-4012

  
	
   

  	
   

  	
  Telephone
  Number:

  	
  (704)
  383-9317

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  with
  a copy to:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Wells
  Fargo Securities, LLC

  
	
   

  	
   

  	
  301
  South College Street, D1053-082

  
	
   

  	
   

  	
  Charlotte,
  North Carolina 28288-0610

  
	
   

  	
   

  	
  Attention:
  Jerri Kallam

  
	
   

  	
   

  	
  Facsimile
  Number:

  	
  (704)
  715-0106

  
	
   

  	
   

  	
  Telephone
  Number:

  	
  (704)
  715-1873

  

 

or
at such other address or facsimile number as any party may designate from time
to time by notice duly given to the other parties in accordance with the terms
of this section.

 

SECTION 15.         Successors.  This Agreement shall inure to the benefit of
and be binding upon the Initial Purchaser, the Issuer, the Manager and their
respective successors and legal representatives.  Nothing expressed or mentioned in this
Agreement is intended or shall be construed to give any Person, other than the
parties hereto, their respective successors and the controlling Persons,
Affiliates, directors, officers, employees, agents and representatives referred
to in Section 10 and their heirs
and legal representatives, any legal or equitable right, remedy or claim under
or in respect of this Agreement or any provision herein contained.  This Agreement and all conditions and
provisions hereof are intended to be for the sole and exclusive benefit of the
parties hereto, their respective successors and such controlling Persons,
Affiliates, directors, officers, employees, agents and representatives and
their heirs and legal representatives, and for the benefit of no other
Person.  No purchaser of a Note or a
beneficial interest in a Note from the Initial Purchaser shall be deemed a
successor because of such purchase.

 

SECTION 16.         Counterparts.  This Agreement may be executed in any number
of counterparts and by the different parties hereto in separate counterparts
(which may include facsimile), each of which when so executed shall be deemed
to be an original and all of which together shall constitute one and the same
agreement.

 

SECTION 17.         Governing Law.  THIS AGREEMENT SHALL BE CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, INCLUDING SECTIONS 5-1401 OF
THE GENERAL OBLIGATIONS LAWS BUT OTHERWISE WITHOUT REFERENCE TO ITS CONFLICTS
OF LAW PROVISIONS, AND THE

 

23

 

OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES
HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.

 

SECTION 18.         Submission to Jurisdiction.  EACH PARTY HERETO HEREBY (A) IRREVOCABLY
SUBMITS TO THE NON-EXCLUSIVE JURISDICTION OF ANY NEW YORK STATE OR FEDERAL
COURT SITTING IN THE BOROUGH OF MANHATTAN IN THE COUNTY OF NEW YORK, NEW YORK
OVER ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT, (B)
IRREVOCABLY AGREES THAT ALL CLAIMS IN RESPECT OF SUCH ACTION OR PROCEEDING MAY BE
HEARD AND DETERMINED IN SUCH STATE OR FEDERAL COURT, AND (C) IRREVOCABLY
WAIVES, TO THE FULLEST EXTENT IT MAY EFFECTIVELY DO SO, THE DEFENSE OF AN
INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING. EACH PARTY
IRREVOCABLY CONSENTS TO THE SERVICE OF ANY AND ALL PROCESS IN ANY ACTION OR
PROCEEDING BY THE MAILING OF COPIES OF THE PROCESS TO SUCH PARTY AT ITS ADDRESS
SPECIFIED HEREIN. NOTHING IN THIS SECTION SHALL AFFECT THE RIGHT OF ANY PARTY
HERETO TO SERVE LEGAL PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR AFFECT
THE RIGHT OF ANY PARTY HERETO TO BRING ANY ACTION OR PROCEEDING AGAINST ANY OR
ALL OF THE OTHER PARTIES HERETO OR ANY OF THEIR RESPECTIVE PROPERTIES IN THE
COURTS OF ANY OTHER JURISDICTION.

 

SECTION 19.         Waiver of Jury Trial.  EACH PARTY HERETO WAIVES ANY RIGHT TO A TRIAL
BY JURY IN ANY ACTION OR PROCEEDING TO ENFORCE OR DEFEND ANY RIGHTS UNDER OR
RELATING TO THIS AGREEMENT OR ANY OTHER TRANSACTION DOCUMENTS OR ANY AMENDMENT,
INSTRUMENT, DOCUMENT OR AGREEMENT DELIVERED OR THAT MAY IN THE FUTURE BE
DELIVERED IN CONNECTION THEREWITH OR ARISING FROM ANY COURSE OF CONDUCT, COURSE
OF DEALING, STATEMENTS (WHETHER VERBAL OR WRITTEN), ACTIONS OF ANY OF THE
PARTIES HERETO OR ANY OTHER RELATIONSHIP EXISTING IN CONNECTION WITH THIS
AGREEMENT OR ANY OTHER TRANSACTION DOCUMENTS, AND AGREES THAT ANY SUCH ACTION
OR PROCEEDING SHALL BE TRIED BEFORE A COURT AND NOT BEFORE A JURY.

 

SECTION 20.         Negotiations.  This Agreement and the other Series 2010-2
Transaction Documents are the result of negotiations among the parties hereto,
and have been reviewed by the respective counsel to the parties hereto, and are
the products of all parties hereto. Accordingly, this Agreement and the other Series
2010-2 Transaction Documents shall not be construed against the Initial
Purchaser merely because of the Initial Purchaser’ involvement in the
preparation of this Agreement and the other Series 2010-2 Transaction
Documents.

 

SECTION 21.         Amendments, Etc.  This Agreement may be amended, restated or otherwise
modified or waived at any time but only upon the written consent of each of the
parties hereto.

 

SECTION 22.         Severability of Provisions.  If any one or more of the agreements,
provisions or terms of this Agreement shall for any reason whatsoever be held
invalid, then the

 

24

 

unenforceable agreements, provisions or terms shall
be deemed severable from the remaining agreements, provisions or terms of this
Agreement and shall in no way affect the validity or enforceability of the
other agreements, provisions or terms of this Agreement.

 

SECTION 23.         No Waiver; Cumulative
Remedies.  No failure
to exercise and no delay in exercising, on the part of any party hereto, any
right, remedy, power or privilege hereunder shall operate as a waiver thereof;
nor shall any single or partial exercise of any right, remedy, power or
privilege hereunder preclude any other or further exercise thereof or the
exercise of any other right, remedy, power or privilege.  Except as otherwise provided in this
Agreement, the rights, remedies, powers and privileges herein provided are
cumulative and are not exhaustive of any rights, remedies, powers and
privileges provided by law.

 

SECTION 24.         Integration.  This Agreement contains a final and complete
integration of all prior expressions by the parties hereto with respect to the
subject matter hereof and shall constitute the entire agreement among the
parties hereto with respect to the subject matter hereof and thereof,
superseding all prior oral or written understandings.

 

SECTION 25.         Nonpetition Covenant.  Notwithstanding any prior termination of this
Agreement, the Initial Purchaser agrees that it shall not, with respect to the
Issuer, institute or join any other Person in instituting any proceeding of the
type referred to in the definition of “Bankruptcy Event” against or with
respect to the Issuer or so long as any Notes issued by the Issuer shall be
outstanding and there shall not have elapsed one year plus one day since the
last day on which any such Notes shall have been Outstanding and all other
obligations of the Issuer under the Series 2010-2 Transaction Documents have
been paid in full.  The foregoing shall
not limit the right of any such Person to file any claim in or otherwise take
any action with respect to any such proceeding that was instituted against
Issuer by any Person other than the Initial Purchaser.  In addition, the Initial Purchaser agrees
that all amounts owed to it by Issuer shall be payable solely from amounts that
become available for such payment pursuant to the Series 2010-2 Transaction
Documents, and no such amounts shall constitute a claim against Issuer to the
extent that they are in excess of the amounts available for their payment.

 

“Bankruptcy Event” means, for any Person,
any of the following events:

 

(a)           a case or other
proceeding shall be commenced, without the application or consent of such
Person, in any court, seeking the liquidation, reorganization, debt
arrangement, dissolution, winding up or composition or readjustment of debts of
such Person, the appointment of a trustee, receiver, custodian, liquidator,
assignee, sequestrator or the like for such Person or any substantial part of
its assets, or any similar action with respect to such Person under any law
relating to bankruptcy, insolvency, reorganization, winding up or composition
or adjustment of debts, and such case or proceeding shall continue undismissed,
or unstayed and in effect, for a period of 60 days; or any order for relief in
respect of such Person shall be entered in an involuntary case under the
federal bankruptcy laws or other similar laws now or hereafter in effect, or

 

(b)           such Person shall
commence a voluntary case or other proceeding under any applicable bankruptcy,
insolvency, reorganization, debt arrangement, dissolution or other similar law
now or hereafter in effect, or shall consent to the appointment of or taking
possession by a

 

25

 

receiver,
liquidator, assignee, trustee, custodian, sequestrator or the like, for such
Person or any substantial part of its property, or shall make any general
assignment for the benefit of creditors, or shall fail to, or admit in writing
its inability to, pay its debts generally as they become due.

 

SECTION 26.         USA Patriot Act.  Each of the Issuer and the Manager
acknowledges that the Initial Purchaser is required by U.S. Federal law, in an
effort to help fight the funding of terrorism and money laundering activities,
to obtain, verify and record information that identifies each person or
corporation who opens an account or enters into a business relationship with a
financial institution.

 

[Signature page follows.]

 

26

 

 

If
the foregoing correctly sets forth our understanding, please indicate your
acceptance thereof in the space provided below for that purpose, whereupon this
Agreement shall constitute a binding agreement between the Issuer and the
Initial Purchaser.

 

 

	
   

  	
  Very
  truly yours,

  
	
   

  	
   

  
	
   

  	
  TAL ADVANTAGE IV LLC

  
	
   

  	
   

  
	
   

  	
  By:

  	
  TAL
  International Container Corporation,

  
	
   

  	
   

  	
  its
  manager

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  
				

 

 

	
   

  	
  TAL INTERNATIONAL CONTAINER CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  

 

 

	
  Accepted and agreed to as of

  the date first above written:

  	
   

  
	
   

  	
   

  
	
  WELLS FARGO SECURITIES, LLC,

  	
   

  
	
  as Initial Purchaser

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
  Authorized
  Signatory

  	
   

  
	
   

  	
   

  	
   

  
	
  Name:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Title:

  	
   

  	
   

  

 

 

SCHEDULE I

to Note Purchase Agreement (Series 2010-2)

 

	
  Initial Purchaser

  	
   

  	
  Principal Amount of Notes

  	
   

  
	
  Wells Fargo Securities,
  LLC

  	
   

  	
  $

  	
  203,000,000

  	
   

  
					

 

 

SCHEDULE II

to Note Purchase Agreement (Series 2010-2)

 

The
information contained in the first, second, fifth, eighth, tenth, eleventh and
twelfth paragraphs and the third and fourth sentences of the seventh paragraph
under the heading “PLAN OF DISTRIBUTION” and the information contained under
the heading “GENERAL INFORMATION” in the Offering Memorandum.

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