Document:

Revolving Credit Agreement, dated as of June 9, 2006

    _________________________________________________________________

     

    REVOLVING
      CREDIT AGREEMENT (2006-1G)

     

    dated
      as
      of June 9, 2006

     

    between

    

    WILMINGTON
      TRUST COMPANY,

    as
      Subordination Agent, as agent and trustee for the

    Continental
      Airlines Pass Through Trust 2006-1G,

    as
      Borrower

    

    and

    

    MORGAN
      STANLEY BANK, as Primary Liquidity Provider

     

    _________________________________________________________________

     

    Continental
      Airlines Pass Through Trust 2006-1G

    USD
      3-month LIBOR + 0.35% Continental Airlines 

    Pass
      Through Certificates, Series 2006-1G

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    TABLE
      OF CONTENTS

    Page

    
      	
               

              Article
                I DEFINITIONS

            	
               

              1

            
	 	
              Section
                1.01

            	
              Certain
                Defined Terms.

            	
              1

            
	
               

              Article
                II AMOUNT AND TERMS OF THE
                COMMITMENT

            	
              7

            
	 	
              Section
                2.01

            	
              The
                Advances.

            	
              7

            
	 	
              Section
                2.02

            	
              Making
                the Advances.

            	
              7

            
	 	
              Section
                2.03

            	
              Fees.

            	
              9

            
	 	
              Section
                2.04

            	
              Reductions
                or Termination of the Maximum
                Commitment.

            	
              9

            
	 	
              Section
                2.05

            	
              Repayments
                of Interest Advances or the Final
                Advance.

            	
              9

            
	 	
              Section
                2.06

            	
              Repayments
                of Provider Advances.

            	
              10

            
	 	
              Section
                2.07

            	
              Payments
                to the Primary Liquidity Provider Under the
                Intercreditor Agreement.

            	
              11

            
	 	
              Section
                2.08

            	
              Book
                Entries.

            	
              11

            
	 	
              Section
                2.09

            	
              Payments
                from Available Funds Only.

            	
              11

            
	 	
              Section
                2.10

            	
              Extension
                of the Expiry Date; Non-Extension Advance.
                

            	
              12

            
	
               

              Article
                III OBLIGATIONS OF THE BORROWER

            	
               

              12

            
	 	
              Section
                3.01

            	
              Increased
                Costs.

            	
              12

            
	 	
              Section
                3.02

            	
              Capital
                Adequacy.

            	
              13

            
	 	
              Section
                3.03

            	
              Payments
                Free of Deductions.

            	
              14

            
	 	
              Section
                3.04

            	
              Payments.

            	
              15

            
	 	
              Section
                3.05

            	
              Computations.

            	
              15

            
	 	
              Section
                3.06

            	
              Payment
                on Non-Business Days.

            	
              15

            
	 	
              Section
                3.07

            	
              Interest.

            	
              15

            
	 	
              Section
                3.08

            	
              Replacement
                of Borrower.

            	
              17

            
	 	
              Section
                3.09

            	
              Funding
                Loss Indemnification.

            	
              17

            
	 	
              Section
                3.10

            	
              Illegality.

            	
              17

            
	 	
              Section
                3.11

            	
              Mitigation.

            	
              18

            
	
               

              Article
                IV CONDITIONS PRECEDENT

            	
               

              18

            
	 	
              Section
                4.01

            	
              Conditions
                Precedent to Effectiveness of Section
                2.01.

            	
              18

            
	 	
              Section
                4.02

            	
              Conditions
                Precedent to Borrowing.

            	
              20

            
	
               

              Article
                V COVENANTS

            	
               

              20

            
	 	
              Section
                5.01

            	
              Affirmative
                Covenants of the Borrower.

            	
              20

            
	 	
              Section
                5.02

            	
              Negative
                Covenants of the Borrower.

            	
              21

            
	
               

              Article
                VI LIQUIDITY EVENTS OF DEFAULT

            	
               

              21

            
	 	
              Section
                6.01

            	
              Liquidity
                Events of Default

            	
              21

            
	 	
              Section
                6.02

            	
              Liquidity
                Provider Reimbursement Date.

            	
              21

            
	
               

              Article
                VII MISCELLANEOUS

            	
               

              21

            
	 	
              Section
                7.01

            	
              Amendments,
                Etc.

            	
              21

            
	 	
              Section
                7.02

            	
              Notices,
                Etc.

            	
              22

            
	 	
              Section
                7.03

            	
              No
                Waiver; Remedies.

            	
              23

            

    

    

    
      
        
        

      

      
        i

        
          

        

      

      
        
        

      

    

    

    
      	 	
              Section
                7.04

            	
              Further
                Assurances.

            	
              23

            
	 	
              Section
                7.05

            	
              Indemnification;
                Survival of Certain
                Provisions.

            	
              23

            
	 	
              Section
                7.06

            	
              Liability
                of the Primary Liquidity
                Provider.

            	
              23

            
	 	
              Section
                7.07

            	
              Costs,
                Expenses and Taxes.

            	
              24

            
	 	
              Section
                7.08

            	
              Binding
                Effect; Participations.

            	
              24

            
	 	
              Section
                7.09

            	
              Severability.

            	
              26

            
	 	
              Section
                7.10

            	
              GOVERNING
                LAW.

            	
              26

            
	 	
              Section
                7.11

            	
              Submission
                to Jurisdiction; Waiver of Jury
                Trial.

            	
              26

            
	 	
              Section
                7.12

            	
              Execution
                in Counterparts.

            	
              27

            
	 	
              Section
                7.13

            	
              Entirety.

            	
              27

            
	 	
              Section
                7.14

            	
              Headings.

            	
              27

            
	 	
              SECTION
                7.15

            	
              PRIMARY
                LIQUIDITY
                PROVIDER’S OBLIGATION TO MAKE ADVANCES.

            	
              27

            

    

    

    ANNEX
      I      Interest
      Advance Notice of Borrowing

     

    ANNEX
      II    Non-Extension
      Advance Notice of Borrowing

     

    ANNEX
      III  Downgrade
      Advance Notice of Borrowing

     

    ANNEX
      IV   Final
      Advance Notice of Borrowing

     

    ANNEX
      V    Notice
      of Termination

     

    ANNEX
      VI  Notice
      of Replacement Subordination Agent

     

    

    
      
        
          

        

        ii

      

      
        
        

        
          

        

      

      
        BACK

        
          

        

      

    

    REVOLVING
      CREDIT AGREEMENT (2006-1G)

     

    This
      REVOLVING CREDIT AGREEMENT (2006-1G), dated as of June 9, 2006, is made by
      and
      between WILMINGTON TRUST COMPANY, a Delaware banking corporation, not in its
      individual capacity but solely as Subordination Agent under the Intercreditor
      Agreement (each as defined below), as agent and trustee for the Class G Trust
      (as defined below) (the “Borrower”),
      and
      MORGAN STANLEY BANK, a Utah industrial bank (the “Primary
      Liquidity Provider”).

     

    W
      I T N E
      S S E T H:

     

    WHEREAS,
      pursuant to the Class G Trust Agreement (such term and all other capitalized
      terms used in these recitals having the meanings set forth or referred to in
      Section 1.01), the Class G Trust is issuing the Class G Certificates;
      and

     

    WHEREAS,
      the Borrower, in order to support the timely payment of a portion of the
      interest on the Class G Certificates in accordance with their terms, has
      requested the Primary Liquidity Provider to enter into this Agreement, providing
      in part for the Borrower to request in specified circumstances that Advances
      be
      made hereunder.

     

    NOW,
      THEREFORE, in consideration of the mutual agreements herein contained, and
      of
      other good and valuable consideration the receipt and adequacy of which are
      hereby acknowledged, the parties hereto agree as follows:

     

     

    ARTICLE
      I

     

    DEFINITIONS

     

    Section
      1.01 Certain
      Defined Terms.
      (a) As
      used in this Agreement and unless expressly indicated, or unless the context
      clearly requires otherwise, the following capitalized terms shall have the
      following respective meanings for all purposes of this Agreement:

     

    “Additional
      Costs”
has
      the
      meaning assigned to such term in Section 3.01.

     

    “Advance”
means
      an Interest Advance, a Final Advance, a Provider Advance or an Applied Provider
      Advance, as the case may be.

     

    “Agreement”
means
      this Revolving Credit Agreement (2006-1G), dated as of June 9, 2006, between
      the
      Borrower and the Primary Liquidity Provider, as the same may be amended,
      supplemented or otherwise modified from time to time in accordance with its
      terms.

     

    “Applicable
      Liquidity Rate”
has
      the
      meaning assigned to such term in Section 3.07(g).

     

    “Applicable
      Margin”
means
      (i) with respect to any Unpaid Advance or Applied Provider Advance, 2.00% per
      annum and (ii) with respect to any Unapplied Provider Advance, the rate per
      annum specified in the Fee Letter applicable to this Agreement.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        BACK

      

    

    “Applied
      Downgrade Advance”
has
      the
      meaning assigned to such term in Section 2.06(a).

     

    “Applied
      Non-Extension Advance”
has
      the
      meaning assigned to such term in Section 2.06(a).

     

    “Applied
      Provider Advance”
has
      the
      meaning assigned to such term in Section 2.06(a).

     

    “Base
      Rate”
means
      a
      fluctuating interest rate per annum in effect from time to time, which rate
      per
      annum shall at all times be equal to (a) the weighted average of the rates
      on
      overnight Federal funds transactions with members of the Federal Reserve System
      arranged by Federal funds brokers, as published for such day (or, if such day
      is
      not a Business Day, for the next preceding Business Day) by the Federal Reserve
      Bank of New York, or if such rate is not so published for any day that is a
      Business Day, the average of the quotations for such day for such transactions
      received by the Primary Liquidity Provider from three Federal funds brokers
      of
      recognized standing selected by it, plus (b) one-quarter of one percent (1/4
      of
      1%).

     

    “Base
      Rate Advance”
means
      an Advance that bears interest at a rate based upon the Base Rate.

     

    “Borrower”
has
      the
      meaning assigned to such term in the recital of parties to this
      Agreement.

     

    “Borrowing”
means
      the making of Advances requested by delivery of a Notice of
      Borrowing.

     

    “Business
      Day”
means
      any day other than a Saturday, a Sunday or a day on which commercial banks
      are
      required or authorized to close in Houston, Texas, West Valley City, Utah,
      New
      York, New York or, so long as any Class G Certificate is outstanding, the city
      and state in which the Class G Trustee, the Borrower or the Mortgagee maintains
      its Corporate
      Trust Office or receives or disburses funds, and, if the applicable Business
      Day
      relates to any
      Advance or other amount bearing interest based on the LIBOR Rate, on which
      dealings are carried on in the London interbank market.

     

    “Consent
      Period”
has
      the
      meaning assigned to such term in Section 2.10.

     

    “Downgrade
      Advance”
means
      an Advance made pursuant to Section 2.02(c).

     

    “Downgrade
      Event”
means
      a
      downgrading of the Primary Liquidity Provider’s short-term unsecured debt rating
      or short-term issuer credit rating, as the case may be, issued by either Rating
      Agency below the applicable Threshold Rating.

     

    “Effective
      Date”
has
      the
      meaning assigned to such term in Section 4.01. The delivery of the certificate
      of the Primary Liquidity Provider contemplated by Section 4.01(e) shall be
      conclusive evidence that the Effective Date has occurred.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        BACK

      

    

    “Excluded
      Taxes”
means
      (i) Taxes imposed on, based on or measured by the income of, or franchise Taxes
      imposed on, the Primary Liquidity Provider or its Lending Office by the
      jurisdiction where such Primary Liquidity Provider’s principal office or such
      Lending Office is located or any other taxing jurisdiction in which such Tax
      is
      imposed as a result of the Primary Liquidity Provider being, or having been,
      organized in, or conducting, or having conducted, any activities unrelated
      to
      the transactions contemplated by the Operative Agreements in, such jurisdiction
      and (ii) Excluded Withholding Taxes.

     

    “Excluded
      Withholding Taxes”
means
      (i) withholding Taxes imposed by the United States except (but only in the
      case
      of a successor Primary Liquidity Provider organized under the laws of a
      jurisdiction outside the United States) to the extent that such United States
      withholding Taxes are imposed or increased as a result of any change in
      applicable law (excluding from change in applicable law for this purpose a
      change in an applicable treaty or other change in law affecting the
      applicability of a treaty) after the date hereof, or in the case of a successor
      Primary Liquidity Provider (including a transferee of an Advance) or Lending
      Office, after the date on which such successor Primary Liquidity Provider
      obtains its interest or on which the Lending Office is changed, and (ii) any
      withholding Taxes imposed by the United States which are imposed or increased
      as
      a result of the Primary Liquidity Provider failing to deliver to the Borrower
      any certificate or document (which certificate or document, in the good faith
      judgment of the Primary Liquidity Provider, the Primary Liquidity Provider
      is
      legally entitled to provide) which is reasonably requested by the Borrower
      to
      establish that payments under this Agreement are exempt from (or entitled to
      a
      reduced rate of) withholding Tax.

     

    “Expenses”
means
      liabilities, obligations, damages, settlements, penalties, claims, actions,
      suits, costs, expenses, and disbursements (including, without limitation,
      reasonable fees and disbursements of legal counsel and costs of investigation),
      provided
      that
      Expenses shall not include any Taxes other than sales, use and V.A.T. taxes
      imposed on fees and expenses payable pursuant to Section 7.07.

     

    “Expiry
      Date”
means
      June 7, 2007, initially, or any date to which the Expiry Date is extended
      pursuant to Section 2.10.

     

    “Final
      Advance”
means
      an Advance made pursuant to Section 2.02(d).

     

    “GAAP”
means
      generally accepted accounting principles as set forth in the statements of
      financial accounting standards issued by the Financial Accounting Standards
      Board of the American Institute of Certified Public Accountants, as such
      principles may at any time or from time to time be varied by any applicable
      financial accounting rules or regulations issued by the Securities and Exchange
      Commission and, with respect to any person, shall mean such principles applied
      on a basis consistent with prior periods except as may be disclosed in such
      person’s financial statements.

     

    “Indemnified
      Tax”
has
      the
      meaning assigned to such term in Section 3.03(a).

     

    “Intercreditor
      Agreement”
means
      the Intercreditor Agreement, dated as of the date hereof, among the Trustees,
      the Primary Liquidity Provider, the Above-Cap Liquidity 

     

    
      
        
        

      

      
        3

        
          

        

      

      
        BACK

      

    

    Provider,
      the Policy Provider and the Subordination Agent, as the same may be amended,
      supplemented or otherwise modified from time to time in accordance with its
      terms.

     

    “Interest
      Advance”
means
      an Advance made pursuant to Section 2.02(a).

     

    “Interest
      Period”
means,
      with respect to any LIBOR Advance, each of the following periods:

     

    (i) the
      period beginning on the third Business Day following either (A) the Primary
      Liquidity Provider’s receipt of the Notice of Borrowing for such LIBOR Advance
      or (B) the withdrawal of funds from the Primary Cash Collateral Account for
      the
      purpose of paying interest on the Class G Certificates as contemplated by
      Section 2.06(a) hereof and, in either case, ending on the next Regular
      Distribution Date; and

     

    (ii) each
      subsequent period commencing on the last day of the immediately preceding
      Interest Period and ending on the next Regular Distribution Date;

     

    provided,
      however,
      that if
      (x) the Final Advance shall have been made, or (y) other outstanding Advances
      shall have been converted into the Final Advance, then the Interest Periods
      shall be successive periods of one month beginning on the third Business Day
      following the Primary Liquidity Provider’s receipt of the Notice of Borrowing
      for such Final Advance (in the case of clause (x) above) or the Regular
      Distribution Date following such conversion (in the case of clause (y)
      above).

     

    “Lending
      Office”
means
      the lending office of the Primary Liquidity Provider presently located at the
      offices of Morgan Stanley, New York, New York, or such other lending office
      as
      the Primary Liquidity Provider from time to time shall notify the Borrower
      as
      its Lending Office hereunder; provided
      that the
      Primary Liquidity Provider shall not change its Lending Office to a lending
      office outside the United States of America except in accordance with Section
      3.11 hereof.

     

    “LIBOR
      Advance”
means
      an Advance bearing interest at a rate based upon the LIBOR Rate.

     

    “LIBOR
      Rate”
means,
      with respect to any Interest Period,

     

    (i) the
      rate
      per annum appearing on display page 3750 (British Bankers Association-LIBOR)
      of
      the Telerate Service (or any successor or substitute therefor) at approximately
      11:00 a.m. (London time) two Business Days before the first day of such Interest
      Period, as the rate for dollar deposits with a maturity comparable to such
      Interest Period, or

     

    (ii) if
      the
      rate calculated pursuant to clause (i) above is not available, the average
      (rounded upwards, if necessary, to the next 1/16 of 1%) of the rates per annum
      at which deposits in dollars are offered for the relevant Interest Period by
      three banks of recognized standing selected by the Primary Liquidity Provider
      in
      the London interbank market at approximately 11:00 a.m. (London time) two
      Business Days before the first day of such Interest Period in an amount
      approximately equal to the principal 

     

    
      
        
        

      

      
        4

        
          

        

      

      
        BACK

      

    

    amount
      of
      the LIBOR Advance to which such Interest Period is to apply and for a period
      comparable to such Interest Period.

     

    “Liquidity
      Event of Default”
means
      the occurrence of either (a) the Acceleration of all of the Equipment Notes
      or
      (b) a Continental Bankruptcy Event.

     

    “Liquidity
      Indemnitee”
means
      (i) the Primary Liquidity Provider, (ii) the directors, officers, employees
      and
      agents of the Primary Liquidity Provider, and (iii) the successors and permitted
      assigns of the persons described in clauses (i) and (ii),
      inclusive.

     

    “Maximum
      Available Commitment”
means,
      subject to the proviso contained in the third sentence of Section 2.02(a),
      at
      any time of determination, (a) the Maximum Commitment at such time less (b)
      the
      aggregate amount of each Interest Advance outstanding at such time; provided
      that
      following a Provider Advance or a Final Advance, the Maximum Available
      Commitment shall be zero.

     

    “Maximum
      Commitment”
means
      initially $39,930,875, as the same may be reduced from time to time in
      accordance with Section 2.04(a).

     

    “Non-Extension
      Advance”
means
      an Advance made pursuant to Section 2.02(b).

     

    “Notice
      of Borrowing”
has
      the
      meaning assigned to such term in Section 2.02(e).

     

    “Notice
      of Replacement Subordination Agent”
has
      the
      meaning assigned to such term in Section 3.08.

     

    “Primary
      Liquidity Provider”
has
      the
      meaning assigned to such term in the recital of parties to this
      Agreement.

     

    “Prospectus
      Supplement”
means
      the final Prospectus Supplement dated May 24, 2006 relating to the Certificates,
      as such Prospectus Supplement may be amended or supplemented.

     

    “Provider
      Advance”
means
      a
      Downgrade Advance or a Non-Extension Advance.

     

    “Regulatory
      Change”
has
      the
      meaning assigned to such term in Section 3.01.

     

    “Replenishment
      Amount”
has
      the
      meaning assigned to such term in Section 2.06(b).

     

    “Required
      Amount”
means,
      for any day, the sum of the aggregate amount of interest, calculated at the
      rate
      per annum equal to the Capped Interest Rate for the Class G Certificates, that
      would be payable on the Class G Certificates on each of the eight successive
      quarterly Regular Distribution Dates immediately following such day or, if
      such
      day is a Regular Distribution Date, on such day and the succeeding seven
      quarterly Regular Distribution Dates, in each case calculated on the basis
      of
      the Pool Balance of the Class G Certificates on such day and without regard
      to
      expected future payments of principal on the Class G Certificates. The Pool
      

     

    
      
        
        

      

      
        5

        
          

        

      

      
        BACK

      

    

    Balance
      solely for purposes of the definition of Required Amount shall, in the event
      of
      any Policy Provider Election, be deemed to be reduced to zero.

     

    “Termination
      Date”
means
      the earliest to occur of the following: (i) the Expiry Date; (ii) the date
      on
      which the Borrower delivers to the Primary Liquidity Provider a certificate,
      signed by a Responsible Officer of the Borrower, certifying that all of the
      Class G Certificates have been paid in full (or provision has been made for
      such
      payment in accordance with the Intercreditor Agreement and the Trust Agreements)
      or are otherwise no longer entitled to the benefits of this Agreement; (iii)
      the
      date on which the Borrower delivers to the Primary Liquidity Provider a
      certificate, signed by a Responsible Officer of the Borrower, certifying that
      a
      Replacement Primary Liquidity Facility has been substituted for this Agreement
      in full pursuant to Section 3.5(e) of the Intercreditor Agreement; (iv) the
      fifth Business Day following the receipt by the Borrower of a Termination Notice
      from the Primary Liquidity Provider pursuant to Section 6.01 hereof; (v)
      the date on which no Advance is, or may (including by reason of reinstatement
      as
      herein provided) become, available for a Borrowing hereunder; (vi) the
      occurrence of the Liquidity Provider Reimbursement Date; and (vii) the
      occurrence of the Special Termination.

     

    “Termination
      Notice”
means
      the Notice of Termination substantially in the form of Annex V to this
      Agreement.

     

    “Transferee”
has
      the
      meaning assigned to such term in Section 7.08(b).

     

    “Unapplied
      Downgrade Advance”
means
      any Downgrade Advance other than an Applied Downgrade Advance.

     

    “Unapplied
      Non-Extension Advance”
means
      any Non-Extension Advance other than an Applied Non-Extension
      Advance.

     

    “Unapplied
      Provider Advance”
means
      any Provider Advance other than an Applied Provider Advance.

     

    “Unpaid
      Advance”
has
      the
      meaning assigned to such term in Section 2.05.

     

    (b) For
      the
      purposes of this Agreement, the following terms shall have the respective
      meanings assigned to such terms in the Intercreditor Agreement:

     

    “Above-Cap
      Liquidity Provider”,
      “Acceleration”,
      “Affiliate”,
      “Capped
      Interest Rate”,
      “Certificate”,
      “Class
      B Certificates”,
      “Class
      G Certificateholder”,
      “Class
      G Certificates”,
      “Class
      G Trust”,
      “Class
      G Trust Agreement”,
      “Class
      G Trustee”,
      “Closing
      Date”,
      “Continental”,
      “Continental
      Bankruptcy Event”,
      “Controlling
      Party”,
      “Corporate
      Trust Office”,
      “Distribution
      Date”,
      “Downgraded
      Facility”,
      “Equipment
      Notes”,
      “Fee
      Letters”,
      “Final
      Legal Distribution Date”,
      “Investment
      Earnings”,
      “Liquidity
      Facility”,
      “Liquidity
      Obligations”,
      “Liquidity
      Provider Reimbursement Date”,
      “Moody’s”,
      “Mortgagee”,
      “Non-Extended
      Facility”,
      “Non-Performing
      Equipment Note”,
      “Note
      Purchase Agreement”,
      “Operative
      Agreements”,
      “Payment
      Default”,
      “Person”,
      “Policy”,
      “Policy
      Drawings”,
      “Policy
      Provider”,
      “Policy
      Provider Election”,
      “Pool
      Balance”,
      “Premium”,
      “Primary
      Cash Collateral Account”,
      “Primary
      Liquidity Facility”,
      “Rating
      Agencies”,
      “Ratings
      Confirmation”,
      “Regular
      Distribution Dates”,
      “Replacement
      Primary 

     

    
      
        
        

      

      
        6

        
          

        

      

      
        BACK

      

    

    Liquidity
      Facility”,
      “Responsible
      Officer”,
      “Scheduled
      Payment”,
      “Special
      Payment”,
      “Special
      Termination”,
      “Standard
      & Poor’s”,
      “Stated
      Interest Rate”,
      “Subordination
      Agent”,
      “Taxes”,
      “Threshold
      Rating”,
      “Trust
      Agreement”,
      “Trustees”,
      “Underwriter”
and
      “Underwriting
      Agreement”.

     

     

    ARTICLE
      II

     

    AMOUNT
      AND TERMS OF THE COMMITMENT

     

    Section
      2.01 The
      Advances.
      The
      Primary Liquidity Provider hereby irrevocably agrees, on the terms and
      conditions hereinafter set forth, to make Advances to the Borrower from time
      to
      time on any Business Day during the period from the Effective Date until 12:00
      noon (New York City time) on the Expiry Date (unless the obligations of the
      Primary Liquidity Provider shall be earlier terminated in accordance with the
      terms of Section 2.04(b)) in an aggregate amount at any time outstanding not
      to
      exceed the Maximum Commitment.

     

    Section
      2.02 Making
      the Advances.
      (a)
      Interest Advances shall be made in one or more Borrowings by delivery to the
      Primary Liquidity Provider of one or more written and completed Notices of
      Borrowing in substantially the form of Annex I attached hereto, signed by a
      Responsible Officer of the Borrower, in an amount not exceeding the Maximum
      Available Commitment at such time and shall be used solely for the payment
      when
      due of interest with respect to the Class G Certificates at the Stated Interest
      Rate for the applicable Interest Period (calculated assuming that Continental
      will not cure any Payment Default) in accordance with Section 3.5(a) of the
      Intercreditor Agreement. Each Interest Advance made hereunder shall
      automatically reduce the Maximum Available Commitment and the amount available
      to be borrowed hereunder by subsequent Advances by the amount of such Interest
      Advance (subject to reinstatement as provided in the next sentence). Upon
      repayment to the Primary Liquidity Provider in full or in part of the amount
      of
      any Interest Advance made pursuant to this Section 2.02(a), together with
      accrued interest thereon (as provided herein), the Maximum Available Commitment
      shall be reinstated by an amount equal to the amount of such Interest Advance
      so
      repaid but not to exceed the Maximum Commitment; provided,
      however,
      that
      the Maximum Available Commitment shall not be so reinstated at any time if
      (x)
      any Equipment Note is a Non-Performing Equipment Note and a Liquidity Event
      of
      Default shall have occurred and be continuing or (y) a Final Advance has been
      made.

     

    (b) A
      Non-Extension Advance shall be made in a single Borrowing if this Agreement
      is
      not extended in accordance with Section 3.5(d) of the Intercreditor Agreement
      (unless a Replacement Primary Liquidity Facility to replace this Agreement
      shall
      have been delivered to the Borrower as contemplated by said Section 3.5(d)
      within the time period specified in such Section 3.5(d)) by delivery to the
      Primary Liquidity Provider of a written and completed Notice of Borrowing in
      substantially the form of Annex II attached hereto, signed by a Responsible
      Officer of the Borrower, in an amount equal to the Maximum Available Commitment
      at such time, and shall be used to fund the Primary Cash Collateral Account
      in
      accordance with such Section 3.5(d) and Section 3.5(f) of the Intercreditor
      Agreement.

     

    (c) A
      Downgrade Advance shall be made in a single Borrowing upon the occurrence of
      a
      Downgrade Event (as provided for in Section 3.5(c) of the Intercreditor

     

    
      
        
        

      

      
        7

        
          

        

      

      
        BACK

      

    

    Agreement)
      unless a Replacement Primary Liquidity Facility to replace this Agreement shall
      have been previously delivered to the Borrower in accordance with
      Section 3.5(c), by delivery to the Primary Liquidity Provider of a written
      and completed Notice of Borrowing in substantially the form of Annex III
      attached hereto, signed by a Responsible Officer of the Borrower, in an amount
      equal to the Maximum Available Commitment at such time, and shall be used to
      fund the Primary Cash Collateral Account in accordance with Sections 3.5(c)
      and
      3.5(f) of the Intercreditor Agreement.

     

    (d) A
      Final
      Advance shall be made in a single Borrowing upon the receipt by the Borrower
      of
      a Termination Notice from the Primary Liquidity Provider pursuant to Section
      6.01 hereof by delivery to the Primary Liquidity Provider of a written and
      completed Notice of Borrowing in substantially the form of Annex IV attached
      hereto, signed by a Responsible Officer of the Borrower, in an amount equal
      to
      the Maximum Available Commitment at such time, and shall be used to fund the
      Primary Cash Collateral Account in accordance with Sections 3.5(f) and 3.5(i)
      of
      the Intercreditor Agreement.

     

    (e) Each
      Borrowing shall be made on notice in writing (a “Notice
      of Borrowing”)
      in
      substantially the form required by Section 2.02(a), 2.02(b), 2.02(c) or 2.02(d),
      as the case may be, given by the Borrower to the Primary Liquidity Provider.
      Each Notice of Borrowing shall be effective upon delivery of a copy thereof
      to
      the Primary Liquidity Provider’s office at the address specified in Section
      7.02. If a Notice of Borrowing is delivered by the Borrower in respect of any
      Borrowing no later than 12:00 p.m. (New York City time) on a Business Day,
      upon
      satisfaction of the conditions precedent set forth in Section 4.02 with respect
      to a requested Borrowing, the Primary Liquidity Provider shall make available
      to
      the Borrower, in accordance with its payment instructions, the amount of such
      Borrowing in U.S. dollars and immediately available funds, before 4:00 p.m.
      (New
      York City time) on such Business Day or on such later Business Day specified
      in
      such Notice of Borrowing. If a Notice of Borrowing is delivered by the Borrower
      in respect of any Borrowing on a day that is not a Business Day or after 12:00
      p.m. (New York City time) on a Business Day, upon satisfaction of the conditions
      precedent set forth in Section 4.02 with respect to a requested Borrowing,
      the
      Primary Liquidity Provider shall make available to the Borrower, in accordance
      with its payment instructions, the amount of such Borrowing in U.S. dollars
      and
      in immediately available funds, before 12:00 noon (New York City time) on the
      first Business Day next following the day of receipt of such Notice of Borrowing
      or on such later Business Day specified by the Borrower in such Notice of
      Borrowing. Payments of proceeds of a Borrowing shall be made by wire transfer
      of
      immediately available funds to the Borrower in accordance with such wire
      transfer instructions as the Borrower shall furnish from time to time to the
      Primary Liquidity Provider for such purpose. Each Notice of Borrowing shall
      be
      irrevocable and binding on the Borrower.

     

    (f) Upon
      the
      making of any Advance requested pursuant to a Notice of Borrowing in accordance
      with the Borrower’s payment instructions, the Primary Liquidity Provider shall
      be fully discharged of its obligation hereunder with respect to such Notice
      of
      Borrowing, and the Primary Liquidity Provider shall not thereafter be obligated
      to make any further Advances hereunder in respect of such Notice of Borrowing
      to
      the Borrower or to any other Person. If the Primary Liquidity Provider makes
      an
      Advance requested pursuant to a Notice of Borrowing before 12:00 noon (New
      York
      City time) on the second Business Day after the date of payment specified in
      Section 2.02(e), the Primary Liquidity Provider shall have fully 

     

    
      
        
        

      

      
        8

        
          

        

      

      
        BACK

      

    

    discharged
      its obligations hereunder with respect to such Advance and an event of default
      shall not have occurred hereunder. Following the making of any Advance pursuant
      to Section 2.02(b), 2.02(c) or 2.02(d) hereof to fund the Primary Cash
      Collateral Account, the Primary Liquidity Provider shall have no interest in
      or
      rights to the Primary Cash Collateral Account, the funds constituting such
      Advance or any other amounts from time to time on deposit in the Primary Cash
      Collateral Account; provided
      that the
      foregoing shall not affect or impair the obligations of the Subordination Agent
      to make the distributions contemplated by Section 3.5(e) or 3.5(f) of the
      Intercreditor Agreement and provided further,
      that
      the foregoing shall not affect or impair the rights of the Primary Liquidity
      Provider to provide written instructions with respect to the investment and
      reinvestment of amounts in the Primary Cash Collateral Account to the extent
      provided in Section 2.2(b) of the Intercreditor Agreement. By paying to the
      Borrower proceeds of Advances requested by the Borrower in accordance with
      the
      provisions of this Agreement, the Primary Liquidity Provider makes no
      representation as to, and assumes no responsibility for, the correctness or
      sufficiency for any purpose of the amount of the Advances so made and
      requested.

     

    Section
      2.03 Fees.
      The
      Borrower agrees to pay to the Primary Liquidity Provider the fees set forth
      in
      the Fee Letter applicable to this Agreement.

     

    Section
      2.04 Reductions
      or Termination of the Maximum Commitment.
      (a)  Automatic
      Reduction.
      Promptly following each date on which the Required Amount is reduced as a result
      of a reduction in the Pool Balance of the Class G Certificates (including by
      reason of a Policy Provider Election with respect to the Series G Equipment
      Note) or otherwise, the Maximum Commitment shall automatically be reduced to
      an
      amount equal to such reduced Required Amount (as calculated by the Borrower).
      The Borrower shall give notice of any such automatic reduction of the Maximum
      Commitment to the Primary Liquidity Provider within two Business Days thereof.
      The failure by the Borrower to furnish any such notice shall not affect such
      automatic reduction of the Maximum Commitment.

     

    (b) Termination.
      Upon
      the making of any Provider Advance or Final Advance hereunder or the occurrence
      of the Termination Date, the obligation of the Primary Liquidity Provider to
      make further Advances hereunder shall automatically and irrevocably terminate,
      and the Borrower shall not be entitled to request any further Borrowing
      hereunder.

     

    Section
      2.05 Repayments
      of Interest Advances or the Final Advance.
      Subject
      to Sections 2.06, 2.07 and 2.09 hereof, the Borrower hereby agrees, without
      notice of an Advance or demand for repayment from the Primary Liquidity Provider
      (which notice and demand are hereby waived by the Borrower), to pay, or to
      cause
      to be paid, to the Primary Liquidity Provider on each date on which the Primary
      Liquidity Provider shall make an Interest Advance or the Final Advance, an
      amount equal to (a) the amount of such Advance (any such Advance, until repaid,
      is referred to herein as an “Unpaid
      Advance”)
      (if
      multiple Interest Advances are outstanding, any such repayment to be applied
      in
      the order in which such Interest Advances have been made, starting with the
      earliest), plus (b) interest on the amount of each such Unpaid Advance as
      provided in Section 3.07 hereof; provided
      that if
      (i) the Primary Liquidity Provider shall make a Provider Advance at any time
      after making one or more Interest Advances which shall not have been repaid
      in
      accordance with this Section 2.05 or (ii) this Primary Liquidity Facility shall
      become a Downgraded Facility or Non-Extended Facility at any time when
      unreimbursed Interest Advances have reduced the Maximum Available Commitment
      to
      zero, 

     

    
      
        
        

      

      
        9

        
          

        

      

      
        BACK

      

    

    then
      such
      Interest Advances shall cease to constitute Unpaid Advances and shall be deemed
      to have been changed into an Applied Downgrade Advance or an Applied
      Non-Extension Advance, as the case may be, for all purposes of this Agreement
      (including, without limitation, for the purpose of determining when such
      Interest Advance is required to be repaid to the Primary Liquidity Provider
      in
      accordance with Section 2.06 and for the purposes of Section 2.06(b)). The
      Borrower and the Primary Liquidity Provider agree that the repayment in full
      of
      each Interest Advance and Final Advance on the date such Advance is made is
      intended to be a contemporaneous exchange for new value given to the Borrower
      by
      the Primary Liquidity Provider.

     

    Section
      2.06 Repayments
      of Provider Advances.
      (a)
      Amounts advanced hereunder in respect of a Provider Advance shall be deposited
      in the Primary Cash Collateral Account and invested and withdrawn from the
      Primary Cash Collateral Account as set forth in Sections 3.5(c), 3.5(d), 3.5(e)
      and 3.5(f) of the Intercreditor Agreement. Subject to Sections 2.07 and 2.09,
      the Borrower agrees to pay to the Primary Liquidity Provider, on each Regular
      Distribution Date, commencing on the first Regular Distribution Date after
      the
      making of a Provider Advance, interest on the principal amount of any such
      Provider Advance as provided in Section 3.07 hereof; provided,
      however,
      that
      amounts in respect of a Provider Advance withdrawn from the Primary Cash
      Collateral Account for the purpose of paying interest on the Class G
      Certificates in accordance with Section 3.5(f) of the Intercreditor Agreement
      (the amount of any such withdrawal being (y) in the case of a Downgrade Advance,
      an “Applied
      Downgrade Advance”
and
      (z)
      in the case of a Non-Extension Advance, an “Applied
      Non-Extension Advance”
and,
      together with an Applied Downgrade Advance, an “Applied
      Provider Advance”)
      shall
      thereafter (subject to Section 2.06(b)) be treated as an Interest Advance under
      this Agreement for purposes of determining the Applicable Liquidity Rate for
      interest payable thereon; provided further,
      however,
      that
      if, following the making of a Provider Advance, the Primary Liquidity Provider
      delivers a Termination Notice to the Borrower pursuant to Section 6.01 hereof,
      such Provider Advance shall thereafter be treated as a Final Advance under
      this
      Agreement for purposes of determining the Applicable Liquidity Rate for interest
      payable thereon and the obligation for repayment thereof and as an Applied
      Downgrade Advance or Applied Non-Extension Advance, as the case may be, for
      purposes of Section 2.6(c) of the Intercreditor Agreement. Subject to Sections
      2.07 and 2.09 hereof, immediately upon the withdrawal of any amounts from the
      Primary Cash Collateral Account on account of a reduction in the Required
      Amount, the Borrower shall repay to the Primary Liquidity Provider a portion
      of
      the Provider Advances in a principal amount equal to such reduction, plus
      interest on the principal amount prepaid as provided in Section 3.07
      hereof.

     

    (b) At
      any
      time when an Applied Provider Advance (or any portion thereof) is outstanding,
      upon the deposit in the Primary Cash Collateral Account of any amount pursuant
      to clause “fourth” of Section 3.2 of the Intercreditor Agreement (any such
      amount being a “Replenishment
      Amount”)
      for
      the purpose of replenishing or increasing the balance thereof up to the Required
      Amount at such time, (i) the aggregate outstanding principal amount of all
      Applied Provider Advances (and of Provider Advances treated as an Interest
      Advance for purposes of determining the Applicable Liquidity Rate for interest
      payable thereon) shall be automatically reduced by the amount of such
      Replenishment Amount (if multiple Applied Provider Advances are outstanding,
      such Replenishment Amount to be applied in the order in which such Applied
      Provider Advances have been made, starting with the earliest) and (ii) the
      aggregate outstanding 

     

    
      
        
        

      

      
        10

        
          

        

      

      
        BACK

      

    

    principal
      amount of all Unapplied Provider Advances shall be automatically increased
      by
      the amount of such Replenishment Amount.

     

    (c) Upon
      the
      provision of a Replacement Primary Liquidity Facility in replacement of this
      Agreement in accordance with Section 3.5(e) of the Intercreditor Agreement,
      and
      upon the payment in full of the Class G Certificates, amounts remaining on
      deposit in the Primary Cash Collateral Account after giving effect to any
      Applied Provider Advance on the date of such replacement shall be reimbursed
      to
      the replaced Primary Liquidity Provider, but only to the extent such amounts
      are
      necessary to repay in full to the replaced Primary Liquidity Provider all
      amounts owing to it hereunder.

     

    Section
      2.07 Payments
      to the Primary Liquidity Provider Under the Intercreditor
      Agreement.
      In order
      to provide for payment or repayment to the Primary Liquidity Provider of any
      amounts hereunder, the Intercreditor Agreement provides that amounts available
      and referred to in Articles II and III of the Intercreditor Agreement, to the
      extent payable to the Primary Liquidity Provider pursuant to the terms of the
      Intercreditor Agreement (including, without limitation, Section 3.5(f) of the
      Intercreditor Agreement), shall be paid to the Primary Liquidity Provider in
      accordance with the terms thereof. Amounts so paid to the Primary Liquidity
      Provider shall be applied by the Primary Liquidity Provider to Liquidity
      Obligations then due and payable in accordance with the Intercreditor Agreement
      and shall discharge in full the corresponding obligations of the Borrower
      hereunder (or, if not provided for in the Intercreditor Agreement, then in
      such
      manner as the Primary Liquidity Provider shall deem appropriate).

     

    Section
      2.08 Book
      Entries.
      The
      Primary Liquidity Provider shall maintain in accordance with its usual practice
      an account or accounts evidencing the indebtedness of the Borrower resulting
      from Advances made from time to time and the amounts of principal and interest
      payable hereunder and paid from time to time in respect thereof; provided,
      however,
      that
      the failure by the Primary Liquidity Provider to maintain such account or
      accounts shall not affect the obligations of the Borrower in respect of
      Advances.

     

    Section
      2.09 Payments
      from Available Funds Only.
      All
      payments to be made by the Borrower under this Agreement including, without
      limitation, Section 7.05 and 7.07 hereof, shall be made only from the amounts
      that constitute Scheduled Payments, Special Payments or payments under the
      Fee
      Letter and Section 8.1 of the Note Purchase Agreement and only to the extent
      that the Borrower shall have sufficient income or proceeds therefrom to enable
      the Borrower to make payments in accordance with the terms hereof after giving
      effect to the priority of payments provisions set forth in the Intercreditor
      Agreement. The Primary Liquidity Provider agrees that it will look solely to
      such amounts in respect of payments to be made by the Borrower hereunder to
      the
      extent available for distribution to it as provided in the Intercreditor
      Agreement and this Agreement and that the Borrower, in its individual capacity,
      is not personally liable to it for any amounts payable or liability under this
      Agreement except as expressly provided in this Agreement, the Intercreditor
      Agreement or the Note Purchase Agreement. Amounts on deposit in the Primary
      Cash
      Collateral Account shall be available to the Borrower to make payments under
      this Agreement only to the extent and for the purposes expressly contemplated
      in
      Section 3.5(f) of the Intercreditor Agreement. Nothing herein shall limit or
      

     

    
      
        
        

      

      
        11

        
          

        

      

      
        BACK

      

    

    otherwise
      affect the right of the Primary Liquidity Provider to receive payment from
      the
      Policy Provider under Section 3.6(d) of the Intercreditor
      Agreement.

     

    Section
      2.10 Extension
      of the Expiry Date; Non-Extension Advance.
      No
      earlier than the 60th
      day and
      no later than the 40th
      day
      prior to the then effective Expiry Date (unless such Expiry Date is on or after
      the date that is 15 days after the Final Legal Distribution Date for the Class
      G
      Certificates), the Borrower shall request that the Primary Liquidity Provider
      extend the Expiry Date to the earlier of (i) the date that is 15 days after
      the
      Final Legal Distribution Date for the Class G Certificates and (ii) the date
      that is the day immediately preceding the 364th
      day
      occurring after the last day of the Consent Period (as hereinafter defined).
      Whether or not the Borrower has made such request, the Primary Liquidity
      Provider shall advise the Borrower, no earlier than the 40th
      day (or,
      if earlier, the date of the Primary Liquidity Provider’s receipt of such
      request, if any, from the Borrower) and no later than the 25th
      day
      prior to the then effective Expiry Date (such period, the “Consent
      Period”),
      whether, in its sole discretion, it agrees to so extend the Expiry Date. If
      the
      Primary Liquidity Provider advises the Borrower on or before the date on which
      the Consent Period ends that such Expiry Date shall not be so extended, or
      fails
      to irrevocably and unconditionally advise the Borrower on or before the date
      on
      which the Consent Period ends that such Expiry Date shall be so extended (and,
      in each case, if the Primary Liquidity Provider shall not have been replaced
      in
      accordance with Section 3.5(e) of the Intercreditor Agreement), the Borrower
      shall be entitled on and after the date on which the Consent Period ends (but
      prior to the then effective Expiry Date) to request a Non-Extension Advance
      in
      accordance with Section 2.02(b) hereof and Section 3.5(d) of the Intercreditor
      Agreement.

     

     

    ARTICLE
      III

     

    OBLIGATIONS
      OF THE BORROWER

     

    Section
      3.01 Increased
      Costs.
      The
      Borrower shall pay to the Primary Liquidity Provider from time to time such
      amounts as may be necessary to compensate the Primary Liquidity Provider for
      any
      increased costs incurred by the Primary Liquidity Provider which are
      attributable to its making or maintaining any LIBOR Advances hereunder or its
      obligation to make any such Advances hereunder, or any reduction in any amount
      receivable by the Primary Liquidity Provider under this Agreement or the
      Intercreditor Agreement in respect of any such Advances or such obligation
      (such
      increases in costs and reductions in amounts receivable being herein called
      “Additional
      Costs”),
      resulting from any change after the date of this Agreement in U.S. federal,
      state, municipal, or foreign laws or regulations (including Regulation D of
      the
      Board of Governors of the Federal Reserve System), or the adoption or making
      after the date of this Agreement of any interpretations, directives, or
      requirements applying to a class of banks including the Primary Liquidity
      Provider under any U.S. federal, state, municipal, or any foreign laws or
      regulations (whether or not having the force of law) by any court, central
      bank
      or monetary authority charged with the interpretation or administration thereof
      (a “Regulatory
      Change”),
      which: (1) changes the basis of taxation of any amounts payable to the Primary
      Liquidity Provider under this Agreement in respect of any such Advances or
      such
      obligation (other than with respect to Excluded Taxes); or (2) imposes or
      modifies any reserve, special deposit, compulsory loan or similar requirements
      relating to any extensions of credit or other assets of, or any deposits with
      other liabilities of, the Primary Liquidity Provider (including any

     

    
      
        
        

      

      
        12

        
          

        

      

      
        BACK

      

    

    such
      Advances or such obligation or any deposits referred to in the definition of
      LIBOR Rate or related definitions).

     

    The
      Primary Liquidity Provider will notify the Borrower of any event occurring
      after
      the date of this Agreement that will entitle the Primary Liquidity Provider
      to
      compensation pursuant to this Section 3.01 as promptly as practicable after
      it
      obtains knowledge thereof and determines to request such compensation, which
      notice shall describe in reasonable detail the calculation of the amounts owed
      under this Section. Determinations by the Primary Liquidity Provider for
      purposes of this Section 3.01 of the effect of any Regulatory Change on its
      costs of making or maintaining Advances or on amounts receivable by it in
      respect of Advances, and of the additional amounts required to compensate the
      Primary Liquidity Provider in respect of any Additional Costs, shall be prima
      facie evidence of the amount owed under this Section.

     

    Notwithstanding
      the preceding two paragraphs, the Primary Liquidity Provider and the
      Subordination Agent agree that any permitted assignee or participant of the
      initial Primary Liquidity Provider which is not a bank shall not be entitled
      to
      the benefits of the preceding two paragraphs (but without limiting the
      provisions of Section 7.08 hereof).

     

    Section
      3.02 Capital
      Adequacy.
      If (1)
      the adoption, after the date hereof, of any applicable governmental law, rule
      or
      regulation regarding capital adequacy, (2) any change, after the date hereof,
      in
      the interpretation or administration of any such law, rule or regulation by
      any
      central bank or other governmental authority charged with the interpretation
      or
      administration thereof or (3) compliance by the Primary Liquidity Provider
      or
      any corporation controlling the Primary Liquidity Provider with any applicable
      guideline or request of general applicability, issued after the date hereof,
      by
      any central bank or other governmental authority (whether or not having the
      force of law) that constitutes a change of the nature described in clause (2),
      has the effect of requiring an increase in the amount of capital required to
      be
      maintained by the Primary Liquidity Provider or any corporation controlling
      the
      Primary Liquidity Provider, and such increase is based upon the Primary
      Liquidity Provider’s obligations hereunder and other similar obligations, the
      Borrower shall, subject to the provisions of Section 3.11, pay to the Primary
      Liquidity Provider from time to time such additional amount or amounts as are
      necessary to compensate the Primary Liquidity Provider for such portion of
      such
      increase as shall be reasonably allocable to the Primary Liquidity Provider’s
      obligations to the Borrower hereunder. 

     

    The
      Primary Liquidity Provider will notify the Borrower of any event occurring
      after
      the date of this Agreement that will entitle the Primary Liquidity Provider
      to
      compensation pursuant to this Section 3.02 as promptly as practicable after
      it
      obtains knowledge thereof and determines to request such compensation, which
      notice shall describe in reasonable detail the calculation of the amounts owed
      under this Section. Determinations by the Primary Liquidity Provider for
      purposes of this Section 3.02 of the effect of any increase in the amount of
      capital required to be maintained by the Primary Liquidity Provider and of
      the
      amount allocable to the Primary Liquidity Provider’s obligations to the Borrower
      hereunder shall be prima facie evidence of the amounts owed under this
      Section.

     

    Notwithstanding
      the preceding two paragraphs, the Primary Liquidity Provider and the
      Subordination Agent agree that any permitted assignee or participant of the
      initial 

     

    
      
        
        

      

      
        13

        
          

        

      

      
        BACK

      

    

    Primary
      Liquidity Provider which is not a bank shall not be entitled to the benefits
      of
      the preceding two paragraphs (but without limiting the provisions of Section
      7.08 hereof).

     

    Section
      3.03 Payments
      Free of Deductions.
      (a) All
      payments made by the Borrower under this Agreement shall be made free and clear
      of, and without reduction or withholding for or on account of any present or
      future Taxes of any nature whatsoever now or hereafter imposed, levied,
      collected, withheld or assessed, other than Excluded Taxes (such non-excluded
      Taxes being referred to herein, collectively, as “Indemnified
      Taxes”
and,
      individually, as an “Indemnified
      Tax”).
      If
      any Taxes are required to be withheld from any amounts payable to the Primary
      Liquidity Provider under this Agreement, (i) the Borrower shall within the
      time
      prescribed therefor by applicable law pay to the appropriate governmental or
      taxing authority the full amount of any such Taxes (including any additional
      Tax
      required to be deducted or withheld in respect of the additional amounts payable
      under clause (ii) hereof) and make such reports or returns in connection
      therewith at the time or times and in the manner prescribed by applicable law,
      and (ii) in the case of Indemnified Taxes, the amounts payable to the Primary
      Liquidity Provider shall be increased to the extent necessary to yield to the
      Primary Liquidity Provider (after deduction or withholding for or on account
      of
      all Indemnified Taxes required to be deducted or withheld by reason of the
      receipt or accrual of the additional amounts payable pursuant to this clause
      (ii)) interest or any other such amounts payable under this Agreement at the
      rates or in the amounts specified in this Agreement.

     

    If
      the
      Primary Liquidity Provider (including a successor Primary Liquidity Provider)
      is
      not organized under the laws of the United States or any State thereof, to
      the
      extent it is eligible to do so, the Primary Liquidity Provider agrees to provide
      to the Borrower, prior to the first date any amount is payable to it hereunder,
      two executed original copies of Internal Revenue Service Form W-8BEN or W-8ECI,
      as appropriate, or any successor or other form prescribed by the Internal
      Revenue Service, certifying that the Primary Liquidity Provider is exempt from
      or entitled to a reduced rate of United States withholding tax on payments
      pursuant to this Agreement. In addition, the Primary Liquidity Provider will
      provide, from time to time upon the reasonable request of the Borrower, such
      additional forms or documentation as may be necessary to establish an available
      exemption from (or an entitlement to a reduced rate of) withholding tax on
      payments hereunder. Within 30 days after the date of each payment hereunder, the
      Borrower shall furnish to the Primary Liquidity Provider the original or
      certified copy of (or other documentary evidence of) the payment of the
      Indemnified Taxes applicable to such payment.

     

    (b) If
      the
      Primary Liquidity Provider (including a successor Primary Liquidity Provider)
      is
      not organized under the laws of the United States or any State thereof, all
      Advances made by the Primary Liquidity Provider under this Agreement shall
      be
      made free and clear of, and without reduction for or on account of, any Taxes
      that are imposed by a jurisdiction in which the Primary Liquidity Provider
      is
      organized, has its Lending Office or maintains its principal place of business.
      If any such Taxes are required to be withheld or deducted from any Advances,
      the
      Primary Liquidity Provider shall (i) within the time prescribed therefor by
      applicable law pay to the appropriate governmental or taxing authority the
      full
      amount of any such Taxes (and any additional Taxes in respect of the additional
      amounts payable under clause (ii) hereof) and make such reports or returns
      in connection therewith at the time or times and in the manner prescribed by
      applicable law, and (ii) pay to the Borrower an additional amount which
      (after deduction of 

     

    
      
        
        

      

      
        14

        
          

        

      

      
        BACK

      

    

    all
      such
      Taxes) shall be sufficient to yield to the Borrower the full amount that would
      have been received by it had no such withholding or deduction been required.
      The
      Borrower shall, for federal income tax purposes and for all purposes hereunder,
      treat such payments as Interest Advances, and, as such, will treat such payments
      as loans made by the Primary Liquidity Provider to the Borrower, unless
      otherwise required by law. Within 30 days after the date of each payment
      hereunder, the Primary Liquidity Provider shall furnish to the Borrower the
      original or a certified copy of (or other documentary evidence of) the payment
      of the Taxes applicable to such payment.

     

    (c) If
      any
      exemption from, or reduction in the rate of, any Taxes required to be deducted
      or withheld from amounts payable by the Primary Liquidity Provider hereunder
      is
      reasonably available to the Borrower to establish that payments under this
      Agreement are exempt from (or entitled to a reduced rate of) Tax, the Borrower
      shall deliver to the Primary Liquidity Provider such form or forms and such
      other evidence of the eligibility of the Borrower for such exemption or
      reduction as the Primary Liquidity Provider may reasonably identify to the
      Borrower as being required as a condition to exemption from, or reduction in
      the
      rate of, any such Taxes.

     

    Section
      3.04 Payments.
      The
      Borrower shall make or cause to be made each payment to the Primary Liquidity
      Provider under this Agreement so as to cause the same to be received by the
      Primary Liquidity Provider not later than 1:00 p.m. (New York City time) on
      the
      day when due. The Borrower shall make all such payments in U.S. dollars, to
      the
      Primary Liquidity Provider in immediately available funds, by wire transfer
      to
      the account of Morgan Stanley Bank, at Citibank, New York, New York, ABA No.
      021000089, Account Name: MS Bank, Account No. 30463591; or to such other U.S.
      bank account as the Primary Liquidity Provider may from time to time direct
      the
      Subordination Agent.

     

    Section
      3.05 Computations.
      All
      computations of interest based on the Base Rate shall be made on the basis
      of a
      year of 365 or 366 days, as the case may be, and all computations of interest
      based on the LIBOR Rate shall be made on the basis of a year of 360 days, in
      each case for the actual number of days (including the first day but excluding
      the last day) occurring in the period for which such interest is
      payable.

     

    Section
      3.06 Payment
      on Non-Business Days.
      Whenever
      any payment to be made hereunder shall be stated to be due on a day other than
      a
      Business Day, such payment shall be made on the next succeeding Business Day
      and
      no additional interest shall be due as a result (and if so made, shall be deemed
      to have been made when due). If any payment in respect of interest on an Advance
      is so deferred to the next succeeding Business Day, such deferral shall not
      delay the commencement of the next Interest Period for such Advance (if such
      Advance is a LIBOR Advance) or reduce the number of days for which interest
      will
      be payable on such Advance on the next interest payment date for such
      Advance.

     

    Section
      3.07 Interest.
      (a)
      Subject to Section 2.09, the Borrower shall pay, or shall cause to be paid,
      without duplication, interest on (i) the unpaid principal amount of each Advance
      from and including the date of such Advance (or, in the case of an Applied
      Provider Advance, from and including the date on which the amount thereof was
      withdrawn from the Primary Cash Collateral Account to pay interest on the Class
      G Certificates) to but excluding the 

     

    
      
        
        

      

      
        15

        
          

        

      

      
        BACK

      

    

    date
      such
      principal amount shall be paid in full (or, in the case of an Applied Provider
      Advance, the date on which the Primary Cash Collateral Account is fully
      replenished in respect of such Advance) and (ii) any other amount due
      hereunder (whether fees, commissions, expenses or other amounts or, to the
      extent permitted by law, installments of interest on Advances or any such other
      amount) that is not paid when due (whether at stated maturity, by acceleration
      or otherwise) from and including the due date thereof to but excluding the
      date
      such amount is paid in full, in each such case, at a fluctuating interest rate
      per annum for each day equal to the Applicable Liquidity Rate (as defined below)
      for such Advance or such other amount, as the case may be, as in effect for
      such
      day, but in no event at a rate per annum greater than the maximum rate permitted
      by applicable law; provided,
      however,
      that,
      if at any time the otherwise applicable interest rate as set forth in this
      Section 3.07 shall exceed the maximum rate permitted by applicable law, then
      any
      subsequent reduction in such interest rate will not reduce the rate of interest
      payable pursuant to this Section 3.07 below the maximum rate permitted by
      applicable law until the total amount of interest accrued equals the amount
      of
      interest that would have accrued if such otherwise applicable interest rate
      as
      set forth in this Section 3.07 had at all times been in effect.

     

    (b) Except
      as
      provided in clause (e) below, each Advance (including, without limitation,
      each
      outstanding Unapplied Downgrade Advance) will be either a Base Rate Advance
      or a
      LIBOR Advance as provided in this Section 3.07. Each such Advance will be a
      Base
      Rate Advance for the period from the date of its borrowing to (but excluding)
      the third Business Day following the Primary Liquidity Provider’s receipt of the
      Notice of Borrowing for such Advance. Thereafter, such Advance shall be a LIBOR
      Advance; provided
      that the
      Borrower (at the direction of the Controlling Party, so long as the Primary
      Liquidity Provider is not the Controlling Party) may (x) convert the Final
      Advance into a Base Rate Advance on the last day of an Interest Period for
      such
      Advance by giving the Primary Liquidity Provider no less than four Business
      Days’ prior written notice of such election or (y) elect to maintain the Final
      Advance as a Base Rate Advance by not requesting a conversion of the Final
      Advance to a LIBOR Advance under Clause (5) of the applicable Notice of
      Borrowing (or, if such Final Advance is deemed to have been made, without
      delivery of a Notice of Borrowing pursuant to Section 2.06, by requesting,
      prior
      to 11:00 a.m. (New York City time) on the first Business Day immediately
      following the Borrower’s receipt of the applicable Termination Notice, that such
      Final Advance not be converted from a Base Rate Advance to a LIBOR
      Advance).

     

    (c) Each
      LIBOR Advance shall bear interest during each Interest Period at a rate per
      annum equal to the LIBOR Rate for such Interest Period plus the Applicable
      Margin for such LIBOR Advance, payable in arrears on the last day of such
      Interest Period and, in the event of the payment of principal of such LIBOR
      Advance on a day other than such last day, on the date of such payment (to
      the
      extent of interest accrued on the amount of principal repaid).

     

    (d) Each
      Base
      Rate Advance shall bear interest at a rate per annum equal to the Base Rate
      plus
      the Applicable Margin for such Base Rate Advance, payable in arrears on each
      Regular Distribution Date and, in the event of the payment of principal of
      such
      Base Rate Advance on a day other than a Regular Distribution Date, on the date
      of such payment (to the extent of interest accrued on the amount of principal
      repaid).

     

    
      
        
        

      

      
        16

        
          

        

      

      
        BACK

      

    

    (e) Each
      outstanding Unapplied Non-Extension Advance shall bear interest in an amount
      equal to the Investment Earnings on amounts on deposit in the Primary Cash
      Collateral Account plus the Applicable Margin for such Unapplied Non-Extension
      Advance on the amount of such Unapplied Non-Extension Advance from time to
      time,
      payable in arrears on each Regular Distribution Date.

     

    (f) Each
      amount not paid when due hereunder (whether fees, commissions, expenses or
      other
      amounts or, to the extent permitted by applicable law, installments of interest
      on Advances but excluding Advances) shall bear interest at a rate per annum
      equal to the Base Rate plus 2.00% until paid.

     

    (g) Each
      change in the Base Rate shall become effective immediately. The rates of
      interest specified in this Section 3.07 with respect to any Advance or other
      amount shall be referred to as the “Applicable
      Liquidity Rate”.

     

    Section
      3.08 Replacement
      of Borrower.
      From
      time to time and subject to the successor Borrower’s meeting the eligibility
      requirements set forth in Section 6.9 of the Intercreditor Agreement applicable
      to the Subordination Agent, upon the effective date and time specified in a
      written and completed Notice of Replacement Subordination Agent in substantially
      the form of Annex VI attached hereto (a “Notice
      of Replacement Subordination Agent”)
      delivered to the Primary Liquidity Provider by the then Borrower, the successor
      Borrower designated therein shall be substituted for the Borrower for all
      purposes hereunder.

     

    Section
      3.09 Funding
      Loss Indemnification.
      The
      Borrower shall pay to the Primary Liquidity Provider, upon the request of the
      Primary Liquidity Provider, such amount or amounts as shall be sufficient (in
      the reasonable opinion of the Primary Liquidity Provider) to compensate it
      for
      any loss, cost, or expense incurred by reason of the liquidation or redeployment
      of deposits or other funds acquired by the Primary Liquidity Provider to fund
      or
      maintain any LIBOR Advance (but excluding loss of anticipated profits) incurred
      as a result of:

     

    (1) Any
      repayment of a LIBOR Advance on a date other than the last day of the Interest
      Period for such Advance; or

     

    (2) Any
      failure by the Borrower to borrow a LIBOR Advance on the date for borrowing
      specified in the relevant notice under Section 2.02.

     

    Section
      3.10 Illegality.
      Notwithstanding any other provision in this Agreement, if any change in any
      applicable law, rule or regulation, or any change in the interpretation or
      administration thereof by any governmental authority, central bank or comparable
      agency charged with the interpretation or administration thereof, or compliance
      by the Primary Liquidity Provider (or its Lending Office) with any request
      or
      directive (whether or not having the force of law) of any such authority,
      central bank or comparable agency shall make it unlawful or impossible for
      the
      Primary Liquidity Provider (or its Lending Office) to maintain or fund its
      LIBOR
      Advances, then upon notice to the Borrower by the Primary Liquidity Provider,
      the outstanding principal amount of the LIBOR Advances shall be converted to
      Base Rate Advances (a) immediately upon demand of the Primary Liquidity
      Provider, if such change or compliance with such request, in the judgment of
      the
      Primary Liquidity Provider, requires immediate 

     

    
      
        
        

      

      
        17

        
          

        

      

      
        BACK

      

    

    repayment;
      or (b) at the expiration of the last Interest Period to expire before the
      effective date of any such change or request.

     

    Section
      3.11 Mitigation.
      If a
      condition arises or an event occurs which would, or would upon the giving of
      notice, result in the payment of any additional costs or amounts pursuant to
      Section 3.01, 3.02 or 3.03 or require the conversion of any Advance pursuant
      to
      Section 3.10, the Primary Liquidity Provider, promptly upon becoming aware
      of
      the same, shall notify the Borrower and shall use reasonable efforts (consistent
      with applicable legal and regulatory restrictions) to mitigate the effects
      of
      such condition or event, including the designation of a different Lending Office
      or furnishing of the proper certificates under any applicable tax laws, tax
      treaties and conventions to the extent that such certificates are legally
      available to the Primary Liquidity Provider; provided,
      that
      the Primary Liquidity Provider shall be under no obligation to take any step
      that, in its good-faith opinion would (i) result in its incurring any material
      additional costs in performing its obligations hereunder unless the Borrower
      has
      agreed to reimburse it therefor or (ii) be otherwise disadvantageous to the
      Primary Liquidity Provider in the reasonable judgment of the Primary Liquidity
      Provider.

     

     

    ARTICLE
      IV

     

    CONDITIONS
      PRECEDENT

     

    Section
      4.01 Conditions
      Precedent to Effectiveness of Section 2.01.
      Section
      2.01 of this Agreement shall become effective on and as of the first date (the
      “Effective
      Date”)
      on
      which the following conditions precedent have been satisfied or
      waived:

     

    (a) The
      Primary Liquidity Provider shall have received each of the following, and in
      the
      case of each document delivered pursuant to paragraphs (i), (ii) and (iii),
      each
      in form and substance satisfactory to the Primary Liquidity
      Provider:

     

    (i) This
      Agreement duly executed on behalf of the Borrower and the Fee Letter applicable
      to this Agreement duly executed on behalf of each of the parties thereto (other
      than the Primary Liquidity Provider);

     

    (ii) The
      Intercreditor Agreement duly executed on behalf of each of the parties thereto
      (other than the Primary Liquidity Provider);

     

    (iii) Fully
      executed copies of each of the Operative Agreements executed and delivered
      on or
      before the Closing Date (other than this Agreement, the Fee Letter applicable
      to
      this Agreement and the Intercreditor Agreement);

     

    (iv) A
      copy of
      the Prospectus Supplement and specimen copies of the Class G
      Certificates;

     

    (v) An
      executed copy of each document, instrument, certificate and opinion delivered
      on
      the Closing Date pursuant to the Class G Trust Agreement, the Intercreditor
      Agreement and the other Operative Agreements (in the case of each such opinion,
      other than the opinion of counsel for the Underwriter, either addressed to
      the
      Primary Liquidity Provider or accompanied by a letter from the counsel rendering
      such 

     

    
      
        
        

      

      
        18

        
          

        

      

      
        BACK

      

    

    opinion
      to the effect that the Primary Liquidity Provider is entitled to rely on such
      opinion as of its date as if it were addressed to the Primary Liquidity
      Provider); 

     

    (vi) Evidence
      that there shall have been made and shall be in full force and effect, all
      filings, recordings and/or registrations, and there shall have been given or
      taken any notice or other similar action as may be reasonably necessary or,
      to
      the extent reasonably requested by the Primary Liquidity Provider, reasonably
      advisable, in order to establish, perfect, protect and preserve the right,
      title
      and interest, remedies, powers, privileges, liens and security interests of,
      or
      for the benefit of, the Trustees, the Borrower and the Primary Liquidity
      Provider created by the Operative Agreements executed and delivered on or prior
      to the Closing Date;

     

    (vii) An
      agreement from Continental, pursuant to which (i) Continental agrees to provide
      to the Primary Liquidity Provider (A) within 90 days after the end of each
      of
      the first three fiscal quarters in each fiscal year of Continental, a
      consolidated balance sheet of Continental as of the end of such quarter and
      related statements of income and cash flows for the period commencing at the
      end
      of the previous fiscal year and ending with the end of such quarter, setting
      forth in each case in comparative form the corresponding figures for the
      corresponding period in the preceding fiscal year, prepared in accordance with
      GAAP; provided,
      that so
      long as Continental is subject to the reporting requirements of the Securities
      Exchange Act of 1934, as amended, a copy of Continental’s report on Form 10-Q
      for such fiscal quarter (excluding exhibits) or a written notice executed by
      an
      authorized officer of Continental that such report has been filed with the
      Securities and Exchange Commission, providing a website address at which such
      report may be accessed and confirming that the report accessible at such website
      address conforms to the original report filed with the Securities and Exchange
      Commission, will satisfy this subclause (A), and (B) within 120 days after
      the
      end of each fiscal year of Continental, a consolidated balance sheet of
      Continental as of the end of such fiscal year and related statements of income
      and cash flows of Continental for such fiscal year, in comparative form with
      the
      preceding fiscal year, prepared in accordance with GAAP, together with a report
      of Continental’s independent certified public accountants with respect to their
      audit of such financial statements; provided,
      that so
      long as Continental is subject to the reporting requirements of the Securities
      Exchange Act of 1934, as amended, a copy of Continental’s report on Form 10-K
      for such fiscal year (excluding exhibits) or a written notice executed by an
      authorized officer of Continental that such report has been filed with the
      Securities and Exchange Commission, providing a website address at which such
      report may be accessed and confirming that the report accessible at such website
      address conforms to the original report filed with the Securities and Exchange
      Commission, will satisfy this subclause (B), and (ii) Continental agrees to
      allow the Primary Liquidity Provider to inspect Continental’s books and records
      regarding the transactions contemplated hereby or by the other Operative
      Agreements, and to discuss such transactions with officers and employees of
      Continental; and

     

    (viii) Such
      other documents, instruments, opinions and approvals pertaining to the
      transactions contemplated hereby or by the other Operative Agreements as the
      Primary Liquidity Provider shall have reasonably requested.

     

    
      
        
        

      

      
        19

        
          

        

      

      
        BACK

      

    

    (b) The
      following statement shall be true on and as of the Effective Date: no event
      has
      occurred and is continuing, or would result from the entering into of this
      Agreement or the making of any Advance, which constitutes a Liquidity Event
      of
      Default.

     

    (c) The
      Primary Liquidity Provider shall have received payment in full of all fees
      and
      other sums required to be paid to or for the account of the Primary Liquidity
      Provider on or prior to the Effective Date.

     

    (d) All
      conditions precedent to the issuance of the Certificates under the Trust
      Agreements shall have been satisfied or waived, and all conditions precedent
      to
      the purchase of the Class G Certificates and Class B Certificates by the
      Underwriter under the Underwriting Agreement shall have been satisfied or
      waived.

     

    (e) The
      Borrower shall have received a certificate, dated the date hereof, signed by
      a
      duly authorized representative of the Primary Liquidity Provider, certifying
      that all conditions precedent to the effectiveness of Section 2.01 have been
      satisfied or waived.

     

    Section
      4.02 Conditions
      Precedent to Borrowing.
      The
      obligation of the Primary Liquidity Provider to make an Advance on the occasion
      of each Borrowing shall be subject to the conditions precedent that the
      Effective Date shall have occurred and, on or prior to the date of such
      Borrowing, the Borrower shall have delivered a Notice of Borrowing which
      conforms to the terms and conditions of this Agreement and has been completed
      as
      may be required by the relevant form of the Notice of Borrowing for the type
      of
      Advance requested.

     

     

    ARTICLE
      V

     

    COVENANTS

     

    Section
      5.01 Affirmative
      Covenants of the Borrower.
      So long
      as any Advance shall remain unpaid or the Primary Liquidity Provider shall
      have
      any Maximum Commitment hereunder or the Borrower shall have any obligation
      to
      pay any amount to the Primary Liquidity Provider hereunder, the Borrower will,
      unless the Primary Liquidity Provider shall otherwise consent in
      writing:

     

    (a) Performance
      of This and Other Agreements.
      Punctually pay or cause to be paid all amounts payable by it under this
      Agreement and the other Operative Agreements and observe and perform in all
      material respects the conditions, covenants and requirements applicable to
      it
      contained in this Agreement and the other Operative Agreements.

     

    (b) Reporting
      Requirements.
      Furnish
      to the Primary Liquidity Provider with reasonable promptness, such other
      information and data with respect to the transactions contemplated by the
      Operative Agreements as from time to time may be reasonably requested by the
      Primary Liquidity Provider; and permit the Primary Liquidity Provider, upon
      reasonable notice, to inspect the Borrower’s books and records with respect to
      such transactions and to meet with officers and employees of the Borrower to
      discuss such transactions.

     

    
      
        
        

      

      
        20

        
          

        

      

      
        BACK

      

    

    (c) Certain
      Operative Agreements.
      Furnish
      to the Primary Liquidity Provider with reasonable promptness, such Operative
      Agreements entered into after the date hereof as from time to time may be
      reasonably requested by the Primary Liquidity Provider.

     

    Section
      5.02 Negative
      Covenants of the Borrower.
      So long
      as any Advance shall remain unpaid or the Primary Liquidity Provider shall
      have
      any Maximum Commitment hereunder or the Borrower shall have any obligation
      to
      pay any amount to the Primary Liquidity Provider hereunder, the Borrower will
      not appoint or permit or suffer to be appointed any successor Borrower without
      the prior written consent of the Primary Liquidity Provider, which consent
      shall
      not be unreasonably withheld or delayed.

     

     

    ARTICLE
      VI

     

    LIQUIDITY
      EVENTS OF DEFAULT;

    LIQUIDITY
      PROVIDER REIMBURSEMENT DATE

     

    Section
      6.01 Liquidity
      Events of Default.
      If (a)
      any Liquidity Event of Default has occurred and is continuing and (b) any
      Equipment Note is a Non-Performing Equipment Note, the Primary Liquidity
      Provider may, in its discretion, deliver to the Borrower a Termination Notice,
      the effect of which shall be to cause (i) the obligation of the Primary
      Liquidity Provider to make Advances hereunder to expire on the fifth Business
      Day after the date on which such Termination Notice is received by the Borrower,
      (ii) the Borrower to promptly request, and the Primary Liquidity Provider to
      promptly make, a Final Advance in accordance with Section 2.02(d) hereof and
      Section 3.5(i) of the Intercreditor Agreement, (iii) all other outstanding
      Advances to be automatically converted into Final Advances for purposes of
      determining the Applicable Liquidity Rate for interest payable thereon, and
      (iv)
      subject to Sections 2.07 and 2.09 hereof, all Advances (including, without
      limitation, any Provider Advance and Applied Provider Advance), any accrued
      interest thereon and any other amounts outstanding hereunder to become
      immediately due and payable to the Primary Liquidity Provider.

     

    Section
      6.02 Liquidity
      Provider Reimbursement Date.
      Upon the
      occurrence of the Liquidity Provider Reimbursement Date, (i) the obligation
      of
      the Primary Liquidity Provider to make Advances hereunder shall automatically
      expire, (ii) all outstanding Advances shall be automatically converted into
      Final Advances, and (iii) subject to Sections 2.07 and 2.09 hereof, all Advances
      (including, without limitation, any Provider Advance and Applied Provider
      Advance), any accrued interest thereon and any other amounts outstanding
      hereunder shall become immediately due and payable to the Primary Liquidity
      Provider. On and after such date, no Advances shall be permitted
      hereunder.

     

     

    ARTICLE
      VII

     

    MISCELLANEOUS

     

    Section
      7.01 Amendments,
      Etc.
      No
      amendment or waiver of any provision of this Agreement, nor consent to any
      departure by the Borrower therefrom, shall in any event be effective unless
      the
      same shall be in writing and signed by the Primary Liquidity Provider, and,
      in
      the case of an amendment or waiver by the Borrower, the Borrower, and then
      such
      waiver or 

     

    
      
        
        

      

      
        21

        
          

        

      

      
        BACK

      

    

    consent
      shall be effective only in the specific instance and for the specific purpose
      for which given.

     

    Section
      7.02 Notices,
      Etc.
      Except
      as otherwise expressly provided herein, all notices and other communications
      provided for hereunder shall be in writing (including telecopier and mailed
      or
      delivered or sent by telecopier):

     

    
      
        	 	
                Borrower:

              	
                Wilmington
                  Trust Company

                Rodney
                  Square North

                1100
                  North Market Street

                Wilmington,
                  DE 19890-0001

                Attention:
                  Corporate Trust Administration

                Telephone:
                  (800) 733-8485

                Fax:
                  (302) 651-8882

              

      

      
        	 	
                 

                Primary
                  Liquidity Provider:

              	
                 

                Morgan
                  Stanley Bank

                2500
                  Lake Park Blvd. Suite #3C

                West
                  Valley City, Utah 84120

                Attention:
                  Richard Felix, Chairman and Chief Credit Officer

                Telephone:
                  (212) 276-2972

                Fax:
                  (212) 507-3669

              
	 	
                 

                with
                  a copy to: 

              	
                 

                Morgan
                  Stanley

                1585
                  Broadway, 38th
                  Floor 

                New
                  York, NY 10036

                Attention:
                  Su Bai, Executive Director

                Telephone:
                  (212) 761-4729

                Fax:
                  (212) 507-5834

              
	 	 	
                 

                and

              
	 	 	
                 

                Morgan
                  Stanley

                1221
                  Avenue of the Americas, 27th
                  Floor 

                New
                  York, NY 10020

                Attention:
                  Andrew Neuberger, Managing Director 

                Telephone:
                  (212) 762-6401

                Fax:
                  (212) 507-4137

              

      

    

    

    or,
      as to
      each of the foregoing, at such other address as shall be designated by such
      Person in a written notice to the others. All such notices and communications
      shall be effective (i) if given by telecopier, when transmitted to the
      telecopier number specified above, (ii) if given by mail, when deposited in
      the
      mails addressed as specified above, and (iii) if given by other means, when
      delivered at the address specified above, except that written notices to the
      Primary Liquidity Provider pursuant to the provisions of Article II and Article
      III hereof shall not be effective until received by the Primary Liquidity
      Provider.

    
       

      
        
          
          

        

        
          22

          
            

          

        

        
          BACK

        

      

    Section
      7.03 No
      Waiver; Remedies.
      No
      failure on the part of the Primary Liquidity Provider to exercise, and no delay
      in exercising, any right under this Agreement shall operate as a waiver thereof;
      nor shall any single or partial exercise of any right under this Agreement
      preclude any other or further exercise thereof or the exercise of any other
      right. The remedies herein provided are cumulative and not exclusive of any
      remedies provided by law.

     

    Section
      7.04 Further
      Assurances.
      The
      Borrower agrees to do such further acts and things and to execute and deliver
      to
      the Primary Liquidity Provider such additional assignments, agreements, powers
      and instruments as the Primary Liquidity Provider may reasonably require or
      deem
      advisable to carry into effect the purposes of this Agreement and the other
      Operative Agreements or to better assure and confirm unto the Primary Liquidity
      Provider its rights, powers and remedies hereunder and under the other Operative
      Agreements.

     

    Section
      7.05 Indemnification;
      Survival of Certain Provisions.
      The
      Primary Liquidity Provider shall be indemnified hereunder to the extent and
      in
      the manner described in Section 8.1 of the Note Purchase Agreement. In addition,
      the Borrower agrees to indemnify, protect, defend and hold harmless the Primary
      Liquidity Provider from, against and in respect of, and shall pay on demand,
      all
      Expenses of any kind or nature whatsoever (other than any Expenses of the nature
      described in Section 3.01, 3.02 or 7.07 hereof or in the Fee Letter applicable
      to this Agreement (regardless of whether indemnified against pursuant to said
      Sections or in such Fee Letter)), that may be imposed on, incurred by or
      asserted against any Liquidity Indemnitee, in any way relating to, resulting
      from, or arising out of or in connection with any action, suit or proceeding
      by
      any third party against such Liquidity Indemnitee and relating to this
      Agreement, the Fee Letter applicable to this Agreement, the Intercreditor
      Agreement or the Note Purchase Agreement; provided,
      however,
      that
      the Borrower shall not be required to indemnify, protect, defend and hold
      harmless any Liquidity Indemnitee in respect of any Expense of such Liquidity
      Indemnitee to the extent such Expense is (i) attributable to the gross
      negligence or willful misconduct of such Liquidity Indemnitee or any other
      Liquidity Indemnitee; (ii) ordinary and usual operating overhead expense; (iii)
      attributable to the failure by such Liquidity Indemnitee or any other Liquidity
      Indemnitee to perform or observe any agreement, covenant or condition on its
      part to be performed or observed in this Agreement, the Intercreditor Agreement,
      the Fee Letter applicable to this Agreement or any other Operative Agreement
      to
      which it is a party; or (iv) a Tax. The indemnities contained in Section 8.1
      of
      the Note Purchase Agreement, and the provisions of Sections 3.01, 3.02, 3.03,
      3.09, 7.05 and 7.07 hereof, shall survive the termination of this
      Agreement.

     

    Section
      7.06 Liability
      of the Primary Liquidity Provider.
      (a)
      Neither the Primary Liquidity Provider nor any of its officers, employees,
      directors or Affiliates shall be liable or responsible for: (i) the use which
      may be made of the Advances or any acts or omissions of the Borrower or any
      beneficiary or transferee in connection therewith; (ii) the validity,
      sufficiency or genuineness of documents, or of any endorsement thereon, even
      if
      such documents should prove to be in any or all respects invalid, insufficient,
      fraudulent or forged; or (iii) the making of Advances by the Primary Liquidity
      Provider against delivery of a Notice of Borrowing and other documents which
      do
      not comply with the terms hereof; provided,
      however,
      that
      the Borrower shall have a claim against the Primary Liquidity Provider, and
      the
      Primary Liquidity Provider shall be liable to the Borrower, to the extent of
      any
      damages suffered by the Borrower which were the result of (A) the Primary
      Liquidity Provider’s willful misconduct or gross negligence in 

     

    
      
        
        

      

      
        23

        
          

        

      

      
        BACK

      

    

    determining
      whether documents presented hereunder comply with the terms hereof, or (B)
      any
      breach by the Primary Liquidity Provider of any of the terms of this Agreement
      or the Intercreditor Agreement, including, but not limited to, the Primary
      Liquidity Provider’s failure to make lawful payment hereunder after the delivery
      to it by the Borrower of a Notice of Borrowing strictly complying with the
      terms
      and conditions hereof. In no event, however, shall the Primary Liquidity
      Provider be liable on any theory of liability for any special, indirect,
      consequential or punitive damages (including, without limitation, any loss
      of
      profits, business or anticipated savings).

     

    (b) Neither
      the Primary Liquidity Provider nor any of its officers, employees, directors
      or
      Affiliates shall be liable or responsible in any respect for (i) any error,
      omission, interruption or delay in transmission, dispatch or delivery of any
      message or advice, however transmitted, in connection with this Agreement or
      any
      Notice of Borrowing delivered hereunder, or (ii) any action, inaction or
      omission which may be taken by it in good faith, absent willful misconduct
      or
      gross negligence (in which event the extent of the Primary Liquidity Provider’s
      potential liability to the Borrower shall be limited as set forth in the
      immediately preceding paragraph), in connection with this Agreement or any
      Notice of Borrowing.

     

    Section
      7.07 Costs,
      Expenses and Taxes.
      The
      Borrower agrees to pay, or cause to be paid (A) on the Effective Date and on
      such later date or dates on which the Primary Liquidity Provider shall make
      demand, all reasonable out-of-pocket costs and expenses (including, without
      limitation, the reasonable fees and expenses of outside counsel for the Primary
      Liquidity Provider) of the Primary Liquidity Provider in connection with the
      preparation, negotiation, execution, delivery, filing and recording of this
      Agreement, any other Operative Agreement and any other documents which may
      be
      delivered in connection with this Agreement and (B) on demand, all reasonable
      costs and expenses (including reasonable counsel fees and expenses) of the
      Primary Liquidity Provider in connection with (i) the enforcement of this
      Agreement or any other Operative Agreement, (ii) the modification or amendment
      of, or supplement to, this Agreement or any other Operative Agreement or such
      other documents which may be delivered in connection herewith or therewith
      (whether or not the same shall become effective) or any waiver or consent
      thereunder (whether or not the same shall become effective) or (iii) any action
      or proceeding relating to any order, injunction, or other process or decree
      restraining or seeking to restrain the Primary Liquidity Provider from paying
      any amount under this Agreement, the Intercreditor Agreement or any other
      Operative Agreement or otherwise affecting the application of funds in the
      Primary Cash Collateral Account. In addition, the Borrower shall pay any and
      all
      recording, stamp and other similar taxes and fees payable or determined to
      be
      payable in connection with the execution, delivery, filing and recording of
      this
      Agreement, any other Operative Agreement and such other documents, and agrees
      to
      hold the Primary Liquidity Provider harmless from and against any and all
      liabilities with respect to or resulting from any delay in paying or omission
      to
      pay such taxes or fees.

     

    Section
      7.08 Binding
      Effect; Participations.
      (a) This
      Agreement shall be binding upon and inure to the benefit of the Borrower and
      the
      Primary Liquidity Provider and their respective successors and assigns, except
      that neither the Primary Liquidity Provider (except as otherwise provided in
      this Section 7.08) nor (except as contemplated by Section 3.08) the Borrower
      shall have the right to assign its rights or obligations hereunder or any
      interest herein without the prior written consent of the other party, subject
      to
      the requirements of Section 7.08(b). The Primary 

     

    
      
        
        

      

      
        24

        
          

        

      

      
        BACK

      

    

    Liquidity
      Provider may grant participations herein or in any of its rights hereunder
      (including, without limitation, funded participations and participations in
      rights to receive interest payments hereunder) and under the other Operative
      Agreements to such Persons (other than Continental and its Affiliates) as the
      Primary Liquidity Provider may in its sole discretion select, subject to the
      requirements of Section 7.08(b). No such granting of participations by the
      Primary Liquidity Provider, however, will relieve the Primary Liquidity Provider
      of its obligations hereunder. In connection with any participation or any
      proposed participation, the Primary Liquidity Provider may disclose to the
      participant or the proposed participant any information that the Borrower is
      required to deliver or to disclose to the Primary Liquidity Provider pursuant
      to
      this Agreement. The Borrower acknowledges and agrees that the Primary Liquidity
      Provider’s source of funds may derive in part from its participants.
      Accordingly, references in this Agreement and the other Operative Agreements
      to
      determinations, reserve and capital adequacy requirements, increased costs,
      reduced receipts, additional amounts due pursuant to Section 3.03 and the like
      as they pertain to the Primary Liquidity Provider shall be deemed also to
      include those of each of its participants that are banks (subject, in each
      case,
      to the maximum amount that would have been incurred by or attributable to the
      Primary Liquidity Provider directly if the Primary Liquidity Provider, rather
      than the participant, had held the interest participated).

     

    (b) If,
      pursuant to subsection (a) above, the Primary Liquidity Provider sells any
      participation in this Agreement to any bank or other entity (each, a
“Transferee”),
      then,
      concurrently with the effectiveness of such participation, the Transferee shall
      (i) represent to the Primary Liquidity Provider (for the benefit of the Primary
      Liquidity Provider and the Borrower) either (A) that it is incorporated under
      the laws of the United States or a state thereof or (B) that under applicable
      law and treaties, no Taxes will be required to be withheld with respect to
      any
      payments to be made to such Transferee in respect of this Agreement, (ii)
      furnish to the Primary Liquidity Provider and the Borrower either (x) a
      statement that it is incorporated under the laws of the United States or a
      state
      thereof or (y) if it is not so incorporated, two copies of a properly completed
      United States Internal Revenue Service Form W-8ECI or Form W-8BEN, as
      appropriate, or other applicable form, certificate or document prescribed by
      the
      Internal Revenue Service certifying, in each case, such Transferee’s entitlement
      to a complete exemption from United States federal withholding Tax in respect
      to
      any and all payments to be made hereunder, and (iii) agree (for the benefit
      of
      the Primary Liquidity Provider and the Borrower) to provide the Primary
      Liquidity Provider and the Borrower a new Form W-8ECI or Form W-8BEN, as
      appropriate, (A) on or before the date that any such form expires or becomes
      obsolete or (B) after the occurrence of any event requiring a change in the
      most
      recent form previously delivered by it and prior to the immediately following
      due date of any payment by the Borrower hereunder, certifying in the case of
      a
      Form W-8BEN or Form W-8ECI that such Transferee is entitled to a complete
      exemption from United States federal withholding tax on payments under this
      Agreement. Unless the Borrower has received forms or other documents reasonably
      satisfactory to it (and required by applicable law) indicating that payments
      hereunder are not subject to United States federal withholding tax, the Borrower
      will withhold taxes as required by law from such payments at the applicable
      statutory rate.

     

    (c) Notwithstanding
      the other provisions of this Section 7.08, the Primary Liquidity Provider may
      assign and pledge all or any portion of the Advances owing to it to any Federal
      Reserve Bank or the United States Treasury as collateral security pursuant
      to
      Regulation A of the Board of Governors of the Federal Reserve System and any
      Operating Circular issued 

     

    
      
        
        

      

      
        25

        
          

        

      

      
        BACK

      

    

    by
      such
      Federal Reserve Bank, provided
      that any
      payment in respect of such assigned Advances made by the Borrower to the Primary
      Liquidity Provider in accordance with the terms of this Agreement shall satisfy
      the Borrower’s obligations hereunder in respect of such assigned Advance to the
      extent of such payment. No such assignment shall release the Primary Liquidity
      Provider from its obligations hereunder.

     

    Section
      7.09 Severability.
      Any
      provision of this Agreement which is prohibited, unenforceable or not authorized
      in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent
      of such prohibition, unenforceability or non-authorization without invalidating
      the remaining provisions hereof or affecting the validity, enforceability or
      legality of such provision in any other jurisdiction.

     

    Section
      7.10 GOVERNING
      LAW.
      THIS
      AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF
      THE
      STATE OF NEW YORK.

     

    Section
      7.11 Submission
      to Jurisdiction; Waiver of Jury Trial.
      (a) Each
      of the parties hereto hereby irrevocably and unconditionally:

     

    (i) submits
      for itself and its property in any legal action or proceeding relating to this
      Agreement or any other Operative Agreement, or for recognition and enforcement
      of any judgment in respect hereof or thereof, to the nonexclusive general
      jurisdiction of the courts of the State of New York, the courts of the United
      States of America for the Southern District of New York, and the appellate
      courts from any thereof;

     

    (ii) consents
      that any such action or proceeding may be brought in such courts, and waives
      any
      objection that it may now or hereafter have to the venue of any such action
      or
      proceeding in any such court or that such action or proceeding was brought
      in an
      inconvenient court and agrees not to plead or claim the same;

     

    (iii) agrees
      that service of process in any such action or proceeding may be effected by
      mailing a copy thereof by registered or certified mail (or any substantially
      similar form of mail), postage prepaid, to each party hereto at its address
      set
      forth in Section 7.02 hereof, or at such other address of which the Primary
      Liquidity Provider shall have been notified pursuant thereto; and

     

    (iv) agrees
      that nothing herein shall affect the right to effect service of process in
      any
      other manner permitted by law or shall limit the right to sue in any other
      jurisdiction.

     

    (b) THE
      BORROWER AND THE PRIMARY LIQUIDITY PROVIDER EACH HEREBY AGREE TO WAIVE THEIR
      RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON
      OR
      ARISING OUT OF THIS AGREEMENT OR ANY DEALINGS BETWEEN THEM RELATING TO THE
      SUBJECT MATTER OF THIS AGREEMENT AND THE RELATIONSHIP THAT IS BEING ESTABLISHED,
      including, without limitation, contract claims, tort claims, breach of duty
      claims and all other common law and statutory claims. The Borrower and the
      Primary Liquidity 

     

    
      
        
        

      

      
        26

        
          

        

      

      
        BACK

      

    

    Provider
      each warrant and represent that it has reviewed this waiver with its legal
      counsel, and that it knowingly and voluntarily waives its jury trial rights
      following consultation with such legal counsel. THIS WAIVER IS IRREVOCABLE,
      AND
      CANNOT BE MODIFIED EITHER ORALLY OR IN WRITING, AND THIS WAIVER SHALL APPLY
      TO
      ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS
      AGREEMENT.

     

    Section
      7.12 Execution
      in Counterparts.
      This
      Agreement may be executed in any number of counterparts and by different parties
      hereto on separate counterparts, each of which counterparts, when so executed
      and delivered, shall be deemed to be an original and all of which counterparts,
      taken together, shall constitute but one and the same Agreement.

     

    Section
      7.13 Entirety.
      This
      Agreement, the Intercreditor Agreement and the other Operative Agreements to
      which the Primary Liquidity Provider is a party constitute the entire agreement
      of the parties hereto with respect to the subject matter hereof and supersedes
      all prior understandings and agreements of such parties.

     

    Section
      7.14 Headings.
      Section
      headings in this Agreement are included herein for convenience of reference
      only
      and shall not constitute a part of this Agreement for any other
      purpose.

     

    Section
      7.15 PRIMARY
      LIQUIDITY
      PROVIDER’S OBLIGATION TO MAKE ADVANCES.
      EXCEPT
      AS EXPRESSLY SET FORTH IN THIS AGREEMENT, THE OBLIGATIONS OF THE PRIMARY
      LIQUIDITY PROVIDER TO MAKE ADVANCES HEREUNDER, AND THE BORROWER’S RIGHTS TO
      DELIVER NOTICES OF BORROWING REQUESTING THE MAKING OF ADVANCES HEREUNDER, SHALL
      BE UNCONDITIONAL AND IRREVOCABLE, AND SHALL BE PAID OR PERFORMED, IN EACH CASE
      STRICTLY IN ACCORDANCE WITH THE TERMS OF THIS AGREEMENT.

     

    [signature
      pages follow]

     

    
      
        
        

      

      
        27

        
          

        

      

      
        BACK

      

    

    IN
      WITNESS WHEREOF, the parties have caused this Agreement to be duly executed
      and
      delivered by their respective officers thereunto duly authorized as of the
      date
      first set forth above.

     

    
      
        
          
            
              
                
                  	 	 	 
	 	
                          
                            WILMINGTON
                              TRUST COMPANY, 

                            not
                              in its individual capacity but solely as 
Subordination
                              Agent, as agent and trustee 
for
                              the Class G Trust, as Borrower

                          

                        
	 
 	 
 	 
 
	 	
                          By:

                        	 
	 	Name:	 
	 	Title:	 

                

                 

                 

              

            

          

        

      

    

    
      
        
        

      

      
        28

        
          

        

      

      
        BACK

      

    

     

    
       

      
        
          
            
              
                
                  	 	 	 
	 	
                          
                            MORGAN
                              STANLEY BANK, 
as
                              Primary Liquidity Provider

                          

                        
	 
 	 
 	 
 
	 	
                          By:

                        	 
	 	Name:	 
	 	Title:	 

                

                 

              

            

          

        

      

       

    

    
 

    
      
        
          

        

        
        

      

      
        29

        
          

        

      

      
        BACK

        
          

        

      

    

    Annex
      I to 

    Revolving
      Credit Agreement

     

    INTEREST
      ADVANCE NOTICE OF BORROWING

     

    The
      undersigned, a duly authorized signatory of the undersigned borrower (the
“Borrower”),
      hereby certifies to MORGAN STANLEY BANK (the “Primary
      Liquidity Provider”),
      with
      reference to the Revolving Credit Agreement (2006-1G) dated as of June 9, 2006,
      between the Borrower and the Primary Liquidity Provider (the “Liquidity
      Agreement”;
      the
      terms defined therein and not otherwise defined herein being used herein as
      therein defined or referenced), that:

     

    (1) The
      Borrower is the Subordination Agent under the Intercreditor
      Agreement.

     

    (2) The
      Borrower is delivering this Notice of Borrowing for the making of an Interest
      Advance by the Primary Liquidity Provider to be used, subject to clause (3)
      below, for the payment of interest on the Class G Certificates which was payable
      on ____________, ____ (the “Distribution
      Date”)
      in
      accordance with the terms and provisions of the Class G Trust Agreement and
      the
      Class G Certificates, which Advance is requested to be made on ____________,
      ____. The Interest Advance should be transferred to [name of bank/wire
      instructions/ABA number] in favor of account number [ __ ], reference [ __
      ].

     

    (3) The
      amount of the Interest Advance requested hereby (i) is $_______________.__,
      to
      be applied in respect of the payment of the interest which was due and payable
      on the Class G Certificates on the Distribution Date, (ii) does not include
      any
      amount with respect to the payment of principal of, or Premium on, the Class
      G
      Certificates, or principal of, or interest or Premium on, the Class B
      Certificates, (iii) was computed in accordance with the provisions of the Class
      G Certificates, the
      Liquidity Agreement,
      the
      Class G Trust Agreement and the Intercreditor Agreement (a copy of which
      computation is attached hereto as Schedule I), (iv) does not exceed the Maximum
      Available Commitment on the date hereof, and (v) has not been and is not the
      subject of a prior or contemporaneous Notice of Borrowing.

     

    (4) Upon
      receipt by or on behalf of the Borrower of the amount requested hereby, (a)
      the
      Borrower will apply the same in accordance with the terms of Section 3.5(b)
      of the Intercreditor Agreement, (b) no portion of such amount shall be applied
      by the Borrower for any other purpose and (c) no portion of such amount until
      so
      applied shall be commingled with other funds held by the Borrower.

     

    The
      Borrower hereby acknowledges that, pursuant to the Liquidity Agreement, the
      making of the Interest Advance as requested by this Notice of Borrowing shall
      automatically reduce, subject to reinstatement in accordance with the terms
      of
      the Liquidity Agreement, the Maximum Available Commitment by an amount equal
      to
      the amount of the Interest Advance requested to be made hereby as set forth
      in
      clause (i) of paragraph (3) of this Notice of 
       

      
        
          
          

        

        
          I-1

          
            

          

        

        
          BACK

        

      

Borrowing
      and such reduction shall automatically result in corresponding reductions in
      the
      amounts available to be borrowed pursuant to a subsequent Advance.

     

    IN
      WITNESS WHEREOF, the Borrower has executed and delivered this Notice of
      Borrowing as of the ____ day of _________, ____.

     

    
      
        
          
            
              
                
                  	 	 	 
	 	
                          
                            WILMINGTON
                              TRUST COMPANY, 

                            not
                              in its individual capacity but solely as 
Subordination
                              Agent, as agent and trustee 
for
                              the Class G Trust, as Borrower

                          

                        
	 
 	 
 	 
 
	 	
                          By:

                        	 
	 	Name:	 
	 	Title:	 

                

                 

                 

              

            

          

        

      

    

    
 

    
      
        
        

      

      
        I-2

        
          

        

      

      
        BACK

      

    

    SCHEDULE
      I TO INTEREST ADVANCE NOTICE OF BORROWING

     

    [Insert
      copy of computations in accordance with Interest Advance Notice of
      Borrowing]

     

    

    
      
        
          

        

        
        

      

      
        I-3

        
          

        

      

      
        BACK

        
          

        

      

    

    Annex
      II to

    Revolving
      Credit Agreement

     

    NON-EXTENSION
      ADVANCE NOTICE OF BORROWING

     

    The
      undersigned, a duly authorized signatory of the undersigned borrower (the
“Borrower”),
      hereby certifies to MORGAN STANLEY BANK (the “Primary
      Liquidity Provider”),
      with
      reference to the Revolving Credit Agreement (2006-1G) dated as of June 9, 2006,
      between the Borrower and the Primary Liquidity Provider (the “Liquidity Agreement”;
      the
      terms defined therein and not otherwise defined herein being used herein as
      therein defined or referenced), that:

     

    (1) The
      Borrower is the Subordination Agent under the Intercreditor
      Agreement.

     

    (2) The
      Borrower is delivering this Notice of Borrowing for the making of the
      Non-Extension Advance by the Primary Liquidity Provider to be used for the
      funding of the Primary Cash Collateral Account in accordance with Section 3.5(d)
      of the Intercreditor Agreement, which Advance is requested to be made on
      __________, ____. The Non-Extension Advance should be transferred to [name
      of
      bank/wire instructions/ABA number] in favor of account number [ __ ], reference
      [ __ ].

     

    (3) The
      amount of the Non-Extension Advance requested hereby (i) is $_______________.__,
      which equals the Maximum Available Commitment on the date hereof and is to
      be
      applied in respect of the funding of the Primary Cash Collateral Account in
      accordance with Sections 3.5(d) and 3.5(f) of the Intercreditor Agreement,
      (ii)
      does not include any amount with respect to the payment of the principal of,
      or
      Premium on, the Class G Certificates, or principal of, or interest or Premium
      on, the Class B Certificates, (iii) was computed in accordance with the
      provisions of the Class G Certificates, the Liquidity Agreement, the Class
      G
      Trust Agreement and the Intercreditor Agreement (a copy of which computation
      is
      attached hereto as Schedule I), and (iv) has not been and is not the subject
      of
      a prior or contemporaneous Notice of Borrowing under the Liquidity
      Agreement.

     

    (4) Upon
      receipt by or on behalf of the Borrower of the amount requested hereby, (a)
      the
      Borrower will deposit such amount in the Primary Cash Collateral Account and
      apply the same in accordance with the terms of Sections 3.5(d) and 3.5(f) of
      the
      Intercreditor Agreement, (b) no portion of such amount shall be applied by
      the
      Borrower for any other purpose and (c) no portion of such amount until so
      applied shall be commingled with other funds held by the Borrower.

     

    The
      Borrower hereby acknowledges that, pursuant to the Liquidity Agreement, (A)
      the
      making of the Non-Extension Advance as requested by this Notice of Borrowing
      shall automatically and irrevocably terminate the obligation of the Primary
      Liquidity Provider to make further Advances under the Liquidity Agreement;
      and
      (B) following the making by the Primary Liquidity Provider of the Non-Extension
      Advance requested by this Notice of Borrowing, the Borrower shall not be
      entitled to request any further Advances under the Liquidity
      Agreement.

     

    
      
        
        

      

      
        II-1

        
          

        

      

      
        BACK

      

    

    IN
      WITNESS WHEREOF, the Borrower has executed and delivered this Notice of
      Borrowing as of the ____ day of _________, ____.

     

    
      
        
          
            
              
                
                  	 	 	 
	 	
                          
                            WILMINGTON
                              TRUST COMPANY, 

                            not
                              in its individual capacity but solely as 
Subordination
                              Agent, as agent and trustee 
for
                              the Class G Trust, as Borrower

                          

                        
	 
 	 
 	 
 
	 	
                          By:

                        	 
	 	Name:	 
	 	Title:	 

                

                 

                 

              

            

          

        

      

    

    
 

    
      
        
        

      

      
        II-2

        
          

        

      

      
        BACK

      

    

    SCHEDULE
      I TO NON-EXTENSION ADVANCE NOTICE OF BORROWING

     

    [Insert
      copy of computations in accordance with Non-Extension Advance Notice of
      Borrowing]

     

    

    
      
        
          

        

        
        

      

      
        II-3

        
          

        

      

      
        BACK

        
          

        

      

    

    Annex
      III to

    Revolving
      Credit Agreement

     

    DOWNGRADE
      ADVANCE NOTICE OF BORROWING

     

    The
      undersigned, a duly authorized signatory of the undersigned borrower (the
“Borrower”),
      hereby certifies to MORGAN STANLEY BANK (the “Primary
      Liquidity Provider”),
      with
      reference to the Revolving Credit Agreement (2006-1G) dated as of June 9, 2006,
      between the Borrower and the Primary Liquidity Provider (the “Liquidity
      Agreement”;
      the
      terms defined therein and not otherwise defined herein being used herein as
      therein defined or referenced), that:

     

    (1) The
      Borrower is the Subordination Agent under the Intercreditor
      Agreement.

     

    (2) The
      Borrower is delivering this Notice of Borrowing for the making of the Downgrade
      Advance by the Primary Liquidity Provider to be used for the funding of the
      Primary Cash Collateral Account in accordance with Section 3.5(c) of the
      Intercreditor Agreement by reason of the occurrence of a Downgrade Event, which
      Advance is requested to be made on __________, ____. The Downgrade Advance
      should be transferred to [name of bank/wire instructions/ABA number] in favor
      of
      account number [ __ ], reference [ __ ].

     

    (3) The
      amount of the Downgrade Advance requested hereby (i) is $_______________.__,
      which equals the Maximum Available Commitment on the date hereof and is to
      be
      applied in respect of the funding of the Primary Cash Collateral Account in
      accordance with Sections 3.5(c) and 3.5(f) of the Intercreditor Agreement,
      (ii)
      does not include any amount with respect to the payment of the principal of,
      or
      Premium on, the Class G Certificates, or principal of, or interest or Premium
      on, the Class B Certificates, (iii) was computed in accordance with the
      provisions of the Class G Certificates, the Liquidity Agreement, the Class
      G
      Trust Agreement and the Intercreditor Agreement (a copy of which computation
      is
      attached hereto as Schedule I), and (iv) has not been and is not the subject
      of
      a prior or contemporaneous Notice of Borrowing under the Liquidity
      Agreement.

     

    (4) Upon
      receipt by or on behalf of the Borrower of the amount requested hereby, (a)
      the
      Borrower will deposit such amount in the Primary Cash Collateral Account and
      apply the same in accordance with the terms of Sections 3.5(c) and 3.5(f) of
      the
      Intercreditor Agreement, (b) no portion of such amount shall be applied by
      the
      Borrower for any other purpose and (c) no portion of such amount until so
      applied shall be commingled with other funds held by the Borrower.

     

    The
      Borrower hereby acknowledges that, pursuant to the Liquidity Agreement, (A)
      the
      making of the Downgrade Advance as requested by this Notice of Borrowing shall
      automatically and irrevocably terminate the obligation of the Primary Liquidity
      Provider to make further Advances under the Liquidity Agreement; and (B)
      following the making by the Primary 
       

      
        
          
          

        

        
          III-1

          
            

          

        

        
          BACK

        

      

Liquidity
      Provider of the Downgrade Advance requested by this Notice of Borrowing, the
      Borrower shall not be entitled to request any further Advances under the
      Liquidity Agreement.

     

    IN
      WITNESS WHEREOF, the Borrower has executed and delivered this Notice of
      Borrowing as of the ____ day of _________, ____.

     

    
      
        
          
            
              
                
                  	 	 	 
	 	
                          
                            WILMINGTON
                              TRUST COMPANY, 

                            not
                              in its individual capacity but solely as 
Subordination
                              Agent, as agent and trustee 
for
                              the Class G Trust, as Borrower

                          

                        
	 
 	 
 	 
 
	 	
                          By:

                        	 
	 	Name:	 
	 	Title:	 

                

                 

                 

              

            

          

        

      

    
      
        
        

      

      
        III-2

        
          

        

      

      
        BACK

      

    

    SCHEDULE
      I TO DOWNGRADE ADVANCE NOTICE OF BORROWING

     

    [Insert
      copy of computations in accordance with Downgrade Advance Notice of
      Borrowing]

     

    

    
      
        
          

        

        
        

      

      
        III-3

        
          

        

      

      
        BACK

        
          

        

      

    

    Annex
      IV to

    Revolving
      Credit Agreement

     

    FINAL
      ADVANCE NOTICE OF BORROWING

     

    The
      undersigned, a duly authorized signatory of the undersigned borrower (the
“Borrower”),
      hereby certifies to MORGAN STANLEY BANK (the “Primary
      Liquidity Provider”),
      with
      reference to the Revolving Credit Agreement (2006-1G) dated as of June 9, 2006,
      between the Borrower and the Primary Liquidity Provider (the “Liquidity
      Agreement”;
      the
      terms defined therein and not otherwise defined herein being used herein as
      therein defined or referenced), that:

     

    (1) The
      Borrower is the Subordination Agent under the Intercreditor
      Agreement.

     

    (2) The
      Borrower is delivering this Notice of Borrowing for the making of the Final
      Advance by the Primary Liquidity Provider to be used for the funding of the
      Primary Cash Collateral Account in accordance with Section 3.5(i) of the
      Intercreditor Agreement by reason of the receipt by the Borrower of a
      Termination Notice from the Primary Liquidity Provider with respect to the
      Liquidity Agreement, which Advance is requested to be made on ____________,
      ____. The Final Advance should be transferred to [name of bank/wire
      instructions/ABA number] in favor of account number [ __ ], reference [ __
      ].

     

    (3) The
      amount of the Final Advance requested hereby (i) is $_________________.__,
      which
      equals the Maximum Available Commitment on the date hereof and is to be applied
      in respect of the funding of the Primary Cash Collateral Account in accordance
      with Sections 3.5(f) and 3.5(i) of the Intercreditor Agreement, (ii) does not
      include any amount with respect to the payment of principal of, or Premium
      on,
      the Class G Certificates, or principal of, or interest or Premium on, the Class
      B Certificates, (iii) was computed in accordance with the provisions of the
      Class G Certificates, the Liquidity Agreement, the Class G Trust Agreement
      and
      the Intercreditor Agreement (a copy of which computation is attached hereto
      as
      Schedule I), and (iv) has not been and is not the subject of a prior or
      contemporaneous Notice of Borrowing.

     

    (4) Upon
      receipt by or on behalf of the Borrower of the amount requested hereby, (a)
      the
      Borrower will deposit such amount in the Primary Cash Collateral Account and
      apply the same in accordance with the terms of Sections 3.5(f) and 3.5(i) of
      the
      Intercreditor Agreement, (b) no portion of such amount shall be applied by
      the
      Borrower for any other purpose and (c) no portion of such amount until so
      applied shall be commingled with other funds held by the Borrower.

    
       

      
        
          
          

        

        
          IV-1

          
            

          

        

        
          BACK

        

      

    (5)
      The
      Borrower hereby requests that the Advance requested hereby be a Base Rate
      Advance [and that such Base Rate Advance be converted into a LIBOR Advance
      on
      the third Business Day following your receipt of this notice.]1 

     

    The
      Borrower hereby acknowledges that, pursuant to the Liquidity Agreement, (A)
      the
      making of the Final Advance as requested by this Notice of Borrowing shall
      automatically and irrevocably terminate the obligation of the Primary Liquidity
      Provider to make further Advances under the Liquidity Agreement; and (B)
      following the making by the Primary Liquidity Provider of the Final Advance
      requested by this Notice of Borrowing, the Borrower shall not be entitled to
      request any further Advances under the Liquidity Agreement.

     

    IN
      WITNESS WHEREOF, the Borrower has executed and delivered this Notice of
      Borrowing as of the ____ day of _________, ____.

     

    
      
        
          
            
              
                	 	 	 
	 	
                        
                          WILMINGTON
                            TRUST COMPANY, 

                          not
                            in its individual capacity but solely as 
Subordination
                            Agent, as agent and trustee 
for
                            the Class G Trust, as Borrower

                        

                      
	 
 	 
 	 
 
	 	
                        By:

                      	 
	 	Name:	 
	 	Title:	 

              

               

               

            

          

        

      

    

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     ___________________

    
      
        1  Bracketed
          language may be included at Borrower’s option.

      

    

    
      
        
        

      

      
        IV-2

        
          

        

      

      
        BACK

      

    

    SCHEDULE
      I TO FINAL ADVANCE NOTICE OF BORROWING

     

    [Insert
      copy of computations in accordance with Final Advance Notice of
      Borrowing]

     

    

    

       

    

    
      
        
          

        

        
        

      

      
        IV-3

        
          

        

      

      
        BACK

        
          

        

      

    

    Annex
      V to

    Revolving
      Credit Agreement

     

    NOTICE
      OF
      TERMINATION

     

                    [Date]

     

    Wilmington
      Trust Company,

    as
      Subordination Agent, as Borrower

    Rodney
      Square North

    1100
      North Market Street

    Wilmington,
      DE 19890-0001

     

    Attention:
      Corporate Trust Administration

     

    Revolving
      Credit Agreement, dated as of June 9, 2006, between Wilmington Trust Company,
      as
      Subordination Agent, as agent and trustee for the Continental Airlines Pass
      Through Trust, 2006-1G, as Borrower, and Morgan Stanley Bank (the “Liquidity
      Agreement”)

     

    Ladies
      and Gentlemen:

     

    You
      are
      hereby notified that, pursuant to Section 6.01 of the Liquidity Agreement,
      by
      reason of an Equipment Note being a Non-Performing Equipment Note and the
      occurrence and continuance of a Liquidity Event of Default (each as defined
      therein), we are giving this notice to you in order to cause (i) our obligations
      to make Advances (as defined therein) under such Liquidity Agreement to
      terminate on the fifth Business Day after the date on which you receive this
      notice and (ii) you to request a Final Advance under the Liquidity Agreement
      pursuant to Section 3.5(i) of the Intercreditor Agreement (as defined in the
      Liquidity Agreement) as a consequence of your receipt of this
      notice.

     

    
      
        
        

      

      
        V-1

        
          

        

      

      
        BACK

      

    

    THIS
      NOTICE IS THE “NOTICE OF TERMINATION” PROVIDED FOR UNDER THE LIQUIDITY
      AGREEMENT. OUR OBLIGATIONS TO MAKE ADVANCES UNDER THE LIQUIDITY AGREEMENT WILL
      TERMINATE ON THE FIFTH BUSINESS DAY AFTER THE DATE ON WHICH YOU RECEIVE THIS
      NOTICE.

     

                
Very
      truly
      yours,

     

    
      
        
          
            
              
                	 	 	 
	 	
                        
                          MORGAN
                            STANLEY BANK, 
as
                            Primary Liquidity Provider

                        

                      
	 
 	 
 	 
 
	 	
                        By:

                      	 
	 	Name:	 
	 	Title:	 

              

               

            

          

        

      

    

     

    cc:
      Wilmington Trust Company,

    as
      Class
      G Trustee

    

    
      
        
          

        

        
        

      

      
        V-2

        
          

        

      

      
        BACK

        
          

        

      

    

    Annex
      VI to

    Revolving
      Credit Agreement

     

    NOTICE
      OF
      REPLACEMENT SUBORDINATION AGENT

     

    [Date]

    Attention:

     

    Revolving
      Credit Agreement, dated as of June 9, 2006, between Wilmington Trust Company,
      as
      Subordination Agent, as agent and trustee for the Continental Airlines Pass
      Through Trust, 2006-1G, as Borrower, and Morgan Stanley Bank (the “Liquidity
      Agreement”)

     

    Ladies
      and Gentlemen:

     

    For
      value
      received, the undersigned beneficiary hereby irrevocably transfers
      to:

     

    ______________________________

    [Name
      of
      Transferee]

     

    ______________________________

     

    [Address
      of Transferee]

     

    all
      rights and obligations of the undersigned as Borrower under the Liquidity
      Agreement referred to above. The transferee has succeeded the undersigned as
      Subordination Agent under the Intercreditor Agreement referred to in the first
      paragraph of the Liquidity Agreement, pursuant to the terms of Section 8.1
      of
      the Intercreditor Agreement.

     

    By
      this
      transfer, all rights of the undersigned as Borrower under the Liquidity
      Agreement are transferred to the transferee and the transferee shall hereafter
      have the sole rights and obligations as Borrower thereunder. The undersigned
      shall pay any costs and expenses of such transfer, including, but not limited
      to, transfer taxes or governmental charges.

     

    
      
        
        

      

      
        VI-1

        
          

        

      

      
        BACK

      

    

    We
      ask
      that this transfer be effective as of __________, ____.

     

    
       

      
        
          
            
              	 	 	 
	 	
                      
                        WILMINGTON
                          TRUST COMPANY, 

                        not
                          in its individual capacity but solely as 
Subordination
                          Agent, as agent and trustee 
for
                          the Class G Trust, as Borrower

                      

                    
	 
 	 
 	 
 
	 	
                      By:

                    	 
	 	Name:	 
	 	Title:	 

            

             

             

             

             

             

             

             

             

             

            
               

              
                 

                
                  VI-2ISDA Master Agreement, dated as of June 9, 2006

    
      

        (Multicurrency—Cross
          Border)

         

        ISDA®

        International
          Swap Dealers Association, Inc.

        MASTER
          AGREEMENT

         

        dated
          as
of
          June
          9, 2006

        

        between
          

        

        
          	
                  Morgan
                    Stanley Capital Services Inc. (“Party A”)

                	
                  and

                	
                  Wilmington
                    Trust Company (“Party B”),
                    

                  in
                    its capacity as Subordination Agent on 

                  behalf
                    of the Trustee under the Continental 

                  Airlines
                    Pass Through Trust 2006-1G

                

        

        

        have
          entered and/or anticipate entering into one or more transactions (each
          a
“Transaction”) that are or will be governed by this Master Agreement, which
          includes the schedule (the “Schedule”), and the documents and other confirming
          evidence (each a “Confirmation”) exchanged between the parties confirming those
          Transactions.

         

        Accordingly,
          the parties agree as follows: 

         

        1. Interpretation

         

        (a) Definitions.
          The
          terms defined in Section 14 and in the Schedule will have the meanings
          therein
          specified for the purpose of this Master Agreement.

         

        (b) Inconsistency.
          In the
          event of any inconsistency between the provisions of the Schedule and the
          other
          provisions of this Master Agreement, the Schedule will prevail. In the
          event of
          any inconsistency between the provisions of any Confirmation and this Master
          Agreement (including the Schedule), such Confirmation will prevail for
          the
          purpose of the relevant Transaction.

         

        (c) Single
          Agreement.
          All
          Transactions are entered into in reliance on the fact that this Master
          Agreement
          and all Confirmations form a single agreement between the parties (collectively
          referred to as this “Agreement”), and the parties would not otherwise enter
          into any Transactions.

         

        2. Obligations

         

        (a) General
          Conditions.

         

        (i) Each
          party will make each payment or delivery specified in each Confirmation
          to be
          made by it, subject to the other provisions of this Agreement.

         

        (ii) Payments
          under this Agreement will be made on the due date for value on that date
          in the
          place of the account specified in the relevant Confirmation or otherwise
          pursuant to this Agreement, in freely transferable funds and in the manner
          customary for payments in the required currency. Where settlement is by
          delivery
          (that is, other than by payment), such delivery will be made for receipt
          on the
          due date in the manner customary for the relevant obligation unless otherwise
          specified in the relevant Confirmation or elsewhere in this
          Agreement.

         

        (iii) Each
          obligation of each party under Section 2(a)(i) is subject to (1) the condition
          precedent that no Event of Default or Potential Event of Default with respect
          to
          the other party has occurred and is continuing, (2) the condition precedent
          that
          no Early Termination Date in respect of the relevant Transaction has occurred
          or
          been effectively designated and (3) each other applicable condition precedent
          specified in this Agreement.

         

        
          
             

             

          

          
             

            
              

            

          

          
             

          

        

        (b) Change
          of Account.
          Either
          party may change its account for receiving a payment or delivery by giving
          notice to the other party at least five Local Business Days prior to the
          scheduled date for the payment or delivery to which such change applies
          unless
          such other party gives timely notice of a reasonable objection to such
          change.

         

        (c) Netting.
          If
          on any
          date amounts would otherwise be payable:—

         

        (i) in
          the
          same currency; and 

         

        (ii) in
          respect of the same Transaction,

         

        by
          each
          party to the other, then, on such date, each party’s obligation to make payment
          of any such amount will be automatically satisfied and discharged and,
          if the
          aggregate amount that would otherwise have been payable by one party exceeds
          the
          aggregate amount that would otherwise have been payable by the other party,
          replaced by an obligation upon the party by whom the larger aggregate amount
          would have been payable to pay to the other party the excess of the larger
          aggregate amount over the smaller aggregate amount.

         

        The
          parties may elect in respect of two or more Transactions that a net amount
          will
          be determined in respect of all amounts payable on the same date in the
          same
          currency in respect of such Transactions, regardless of whether such amounts
          are
          payable in respect of the same Transaction. The election may be made in
          the
          Schedule or a Confirmation by specifying that subparagraph (ii) above will
          not
          apply to the Transactions identified as being subject to the election,
          together
          with the starting date (in which case subparagraph (ii) above will not,
          or will
          cease to, apply to such Transactions from such date). This election may
          be made
          separately for different groups of Transactions and will apply separately
          to
          each pairing of Offices through which the parties make and receive payments
          or
          deliveries.

         

        (d) Deduction
          or Withholding for Tax.

         

        (i) Gross-Up.
          All
          payments under this Agreement will be made without any deduction or withholding
          for or on account of any Tax unless such deduction or withholding is required
          by
          any applicable law, as modified by the practice of any relevant governmental
          revenue authority, then in effect. If a party is so required to deduct
          or
          withhold, then that party (“X”) will:—

         

        (1) promptly
          notify the other party (“Y”) of such requirement;

         

        (2) pay
          to
          the relevant authorities the full amount required to be deducted or withheld
          (including the full amount required to be deducted or withheld from any
          additional amount paid by X to Y under this Section 2(d)) promptly upon
          the
          earlier of determining that such deduction or withholding is required or
          receiving notice that such amount has been assessed against Y;

         

        (3) promptly
          forward to Y an official receipt (or a certified copy), or other documentation
          reasonably acceptable to Y, evidencing such payment to such authorities;
          and

         

        (4) if
          such
          Tax is an Indemnifiable Tax, pay to Y, in addition to the payment to which
          Y is
          otherwise entitled under this Agreement, such additional amount as is necessary
          to ensure that the net amount actually received by Y (free and clear of
          Indemnifiable Taxes, whether assessed against X or Y) will equal the full
          amount
          Y would have received had no such deduction or withholding been required.
          However, X will not be required to pay any additional amount to Y to the
          extent
          that it would not be required to be paid but for:—

         

        (A)
          the
          failure by Y to comply with or perform any agreement contained in Section
          4(a)(i), 4(a)(iii) or 4(d); or

         

        (B)
          the
          failure of a representation made by Y pursuant to Section 3(f) to be accurate
          and true unless such failure would not have occurred but for (I) any action
          taken by a taxing authority, or brought in a court of competent jurisdiction,
          on
          or after the date on which a Transaction is entered into (regardless of
          whether
          such action is taken or brought with respect to a party to this Agreement)
          or
          (II) a Change in Tax Law.

         

        
          
            ISDAÒ
              1992

             

          

          
            2

            
              

            

          

          
             

          

        

        (ii) Liability.
          If:—

         

        (1) X
          is
          required by any applicable law, as modified by the practice of any relevant
          governmental revenue authority, to make any deduction or withholding in
          respect
          of which X would not be required to pay an additional amount to Y under
          Section
          2(d)(i)(4);

         

        (2) X
          does
          not so deduct or withhold; and

         

        (3) a
          liability resulting from such Tax is assessed directly against X,

         

        then,
          except to the extent Y has satisfied or then satisfies the liability resulting
          from such Tax, Y will promptly pay to X the amount of such liability (including
          any related liability for interest, but including any related liability
          for
          penalties only if Y has failed to comply with or perform any agreement
          contained
          in Section 4(a)(i), 4(a)(iii) or 4(d)).

         

        (e) Default
          Interest; Other Amounts. Prior
          to
          the occurrence or effective designation of an Early Termination Date in
          respect
          of the relevant Transaction, a party that defaults in the performance of
          any
          payment obligation will, to the extent permitted by law and subject to
          Section
          6(c), be required to pay interest (before as well as after judgment) on
          the
          overdue amount to the other party on demand in the same currency as such
          overdue
          amount, for the period from (and including) the original due date for payment
          to
          (but excluding) the date of actual payment, at the Default Rate. Such interest
          will be calculated on the basis of daily compounding and the actual number
          of
          days elapsed. If, prior to the occurrence or effective designation of an
          Early
          Termination Date in respect of the relevant Transaction, a party defaults
          in the
          performance of any obligation required to be settled by delivery, it will
          compensate the other party on demand if and to the extent provided for
          in the
          relevant Confirmation or elsewhere in this Agreement.

         

        3. Representations

         

        Each
          party represents to the other party (which representations will be deemed
          to be
          repeated by each party on each date on which a Transaction is entered into
          and,
          in the case of the representations in Section 3(f), at all times until
          the
          termination of this Agreement) that:—

         

        (a) Basic
          Representations.

         

        (i) Status.
          It
          is
          duly organised and validly existing under the laws of the jurisdiction
          of its
          organisation or incorporation and, if relevant under such laws, in good
          standing;

         

        (ii) Powers.
          It
          has
          the power to execute this Agreement and any other documentation relating
          to this
          Agreement to which it is a party, to deliver this Agreement and any other
          documentation relating to this Agreement that it is required by this Agreement
          to deliver and to perform its obligations under this Agreement and any
          obligations it has under any Credit Support Document to which it is a party
          and
          has taken all necessary action to authorise such execution, delivery and
          performance;

         

        (iii) No
          Violation or Conflict. Such
          execution, delivery and performance do not violate or conflict with any
          law
          applicable to it, any provision of its constitutional documents, any order
          or
          judgment of any court or other agency of government applicable to it or
          any of
          its assets or any contractual restriction binding on or affecting it or
          any of
          its assets;

         

        (iv) Consents.
          All
          governmental and other consents that are required to have been obtained
          by it
          with respect to this Agreement or any Credit Support Document to which
          it is a
          party have been obtained and are in full force and effect and all conditions
          of
          any such consents have been complied with; and

         

        (v) Obligations
          Binding. Its
          obligations under this Agreement and any Credit Support Document to which
          it is
          a party constitute its legal, valid and binding obligations, enforceable
          in
          accordance with their respective terms (subject to applicable bankruptcy,
          reorganisation, insolvency, moratorium or similar laws affecting creditors’
rights generally and subject, as to enforceability, to equitable principles
          of
          general application (regardless of whether enforcement is sought in a proceeding
          in equity or at law)).

         

        
          
            ISDAÒ
              1992

             

          

          
            3

            
              

            

          

          
             

          

        

        (b) Absence
          of Certain Events. No
          Event
          of Default or Potential Event of Default or, to its knowledge, Termination
          Event
          with respect to it has occurred and is continuing and no such event or
          circumstance would occur as a result of its entering into or performing
          its
          obligations under this Agreement or any Credit Support Document to which
          it is a
          party.

         

        (c) Absence
          of Litigation. There
          is
          not pending or, to its knowledge, threatened against it or any of its Affiliates
          any action, suit or proceeding at law or in equity or before any court,
          tribunal, governmental body, agency or official or any arbitrator that
          is likely
          to affect the legality, validity or enforceability against it of this Agreement
          or any Credit Support Document to which it is a party or its ability to
          perform
          its obligations under this Agreement or such Credit Support
          Document.

         

        (d) Accuracy
          of Specified Information. All
          applicable information that is furnished in writing by or on behalf of
          it to the
          other party and is identified for the purpose of this Section 3(d) in the
          Schedule is, as of the date of the information, true, accurate and complete
          in
          every material respect.

         

        (e) Payer
          Tax Representation. Each
          representation specified in the Schedule as being made by it for the purpose
          of
          this Section 3(e) is accurate and true.

         

        (f) Payee
          Tax Representations. Each
          representation specified in the Schedule as being made by it for the purpose
          of
          this Section 3(f) is accurate and true.

         

        4. Agreements

         

        Each
          party agrees with the other that, so long as either party has or may have
          any
          obligation under this Agreement or under any Credit Support Document to
          which it
          is a party:—

         

        (a) Furnish
          Specified Information. It
          will
          deliver to the other party or, in certain cases under subparagraph (iii)
          below,
          to such government or taxing authority as the other party reasonably
          directs:—

         

        (i) any
          forms, documents or certificates relating to taxation specified in the
          Schedule
          or any Confirmation;

         

        (ii) any
          other
          documents specified in the Schedule or any Confirmation; and

         

        (iii) upon
          reasonable demand by such other party, any form or document that may be
          required
          or reasonably requested in writing in order to allow such other party or
          its
          Credit Support Provider to make a payment under this Agreement or any applicable
          Credit Support Document without any deduction or withholding for or on
          account
          of any Tax or with such deduction or withholding at a reduced rate (so
          long as
          the completion, execution or submission of such form or document would
          not
          materially prejudice the legal or commercial position of the party in receipt
          of
          such demand), with any such form or document to be accurate and completed
          in a
          manner reasonably satisfactory to such other party and to be executed and
          to be
          delivered with any reasonably required certification,

         

        in
          each
          case by the date specified in the Schedule or such Confirmation or, if
          none is
          specified, as soon as reasonably practicable.

         

        (b) Maintain
          Authorisations. It
          will
          use all reasonable efforts to maintain in full force and effect all consents
          of
          any governmental or other authority that are required to be obtained by
          it with
          respect to this Agreement or any Credit Support Document to which it is
          a party
          and will use all reasonable efforts to obtain any that may become necessary
          in
          the future.

         

        (c) Comply
          with Laws.
          It
          will
          comply in all material respects with all applicable laws and orders to
          which it
          may be subject if failure so to comply would materially impair its ability
          to
          perform its obligations under this Agreement or any Credit Support Document
          to
          which it is a party.

         

        (d) Tax
          Agreement. It
          will
          give notice of any failure of a representation made by it under Section
          3(f) to
          be accurate and true promptly upon learning of such failure.

         

        (e) Payment
          of Stamp Tax.
          Subject
          to Section 11, it will pay any Stamp Tax levied or imposed upon it or in
          respect
          of its execution or performance of this Agreement by a jurisdiction in
          which it
          is incorporated, 

         

        
          
            ISDAÒ
              1992

             

          

          
            4

            
              

            

          

          
             

          

        

        organised, managed
          and controlled, or considered to have its seat, or in which a branch or
          office
          through which it is acting for the purpose of this Agreement is located
          (“Stamp
          Tax Jurisdiction”) and will indemnify the other party against any Stamp Tax
          levied or imposed upon the other party or in respect of the other party’s
          execution or performance of this Agreement by any such Stamp Tax Jurisdiction
          which is not also a Stamp Tax Jurisdiction with respect to the other
          party.

         

        5. Events
          of Default and Termination Events

         

        (a) Events
          of Default. The
          occurrence at any time with respect to a party or, if applicable, any Credit
          Support Provider of such party or any Specified Entity of such party of
          any of
          the following events constitutes an event of default (an “Event of Default”)
          with respect to such party:—

         

        (i) Failure
          to Pay or Deliver. Failure
          by the party to make, when due, any payment under this Agreement or delivery
          under Section 2(a)(i) or 2(e) required to be made by it if such failure
          is not
          remedied on or before the third Local Business Day after notice of such
          failure
          is given to the party;

         

        (ii) Breach
          of Agreement. Failure
          by the party to comply with or perform any agreement or obligation (other
          than
          an obligation to make any payment under this Agreement or delivery under
          Section
          2(a)(i) or 2(e) or to give notice of a Termination Event or any agreement
          or
          obligation under Section 4(a)(i), 4(a)(iii) or 4(d)) to be complied with
          or
          performed by the party in accordance with this Agreement if such failure
          is not
          remedied on or before the thirtieth day after notice of such failure is
          given to
          the party;

         

        (iii) Credit
          Support Default.

         

        (1) Failure
          by the party or any Credit Support Provider of such party to comply with
          or
          perform any agreement or obligation to be complied with or performed by
          it in
          accordance with any Credit Support Document if such failure is continuing
          after
          any applicable grace period has elapsed;

         

        (2) the
          expiration or termination of such Credit Support Document or the failing
          or
          ceasing of such Credit Support Document to be in full force and effect
          for the
          purpose of this Agreement (in either case other than in accordance with
          its
          terms) prior to the satisfaction of all obligations of such party under
          each
          Transaction to which such Credit Support Document relates without the written
          consent of the other party; or

         

        (3) the
          party
          or such Credit Support Provider disaffirms, disclaims, repudiates or rejects,
          in
          whole or in part, or challenges the validity of, such Credit Support
          Document;

         

        (iv) Misrepresentation.
          A
          representation (other than a representation under Section 3(e) or (f))
          made or
          repeated or deemed to have been made or repeated by the party or any Credit
          Support Provider of such party in this Agreement or any Credit Support
          Document
          proves to have been incorrect or misleading in any material respect when
          made or
          repeated or deemed to have been made or repeated;

         

        (v) Default
          under Specified Transaction. The
          party, any Credit Support Provider of such party or any applicable Specified
          Entity of such party (1) defaults under a Specified Transaction and, after
          giving effect to any applicable notice requirement or grace period, there
          occurs
          a liquidation of, an acceleration of obligations under, or an early termination
          of, that Specified Transaction, (2) defaults, after giving effect to any
          applicable notice requirement or grace period, in making any payment or
          delivery
          due on the last payment, delivery or exchange date of, or any payment on
          early
          termination of, a Specified Transaction (or such default continues for
          at least
          three Local Business Days if there is no applicable notice requirement
          or grace
          period) or (3) disaffirms, disclaims, repudiates or rejects, in whole or
          in
          part, a Specified Transaction (or such action is taken by any person or
          entity
          appointed or empowered to operate it or act on its behalf);

         

        (vi) Cross
          Default. If
“Cross
          Default” is specified in the Schedule as applying to the party, the
          occurrence or existence of (1) a default, event of default or other similar
          condition or event (however 

         

        
          
            ISDAÒ
              1992

             

          

          
            5

            
              

            

          

          
             

          

        

        described)
          in respect of such party, any Credit Support Provider of such party or
          any
          applicable Specified Entity of such party under one or more agreements
          or
          instruments relating to Specified Indebtedness of any of them (individually
          or
          collectively) in an aggregate amount of not less than the applicable Threshold
          Amount (as specified in the Schedule) which has resulted in such Specified
          Indebtedness becoming, or becoming capable at such time of being declared,
          due
          and payable under such agreements or instruments, before it would otherwise
          have
          been due and payable or (2) a default by such party, such Credit Support
          Provider or such Specified Entity (individually or collectively) in making
          one
          or more payments on the due date thereof in an aggregate amount of not
          less than
          the applicable Threshold Amount under such agreements or instruments (after
          giving effect to any applicable notice requirement or grace
          period);

         

        (vii) Bankruptcy.
          The
          party, any Credit Support Provider of such party or any applicable Specified
          Entity of such party:—

         

        (1)
          is
          dissolved (other than pursuant to a consolidation, amalgamation or merger);
          (2)
          becomes insolvent or is unable to pay its debts or fails or admits in writing
          its inability generally to pay its debts as they become due; (3) makes
          a general
          assignment, arrangement or composition with or for the benefit of its creditors;
          (4) institutes or has instituted against it a proceeding seeking a judgment
          of
          insolvency or bankruptcy or any other relief under any bankruptcy or insolvency
          law or other similar law affecting creditors’ rights, or a petition is presented
          for its winding-up or liquidation, and, in the case of any such proceeding
          or
          petition instituted or presented against it, such proceeding or petition
          (A)
          results in a judgment of insolvency or bankruptcy or the entry of an order
          for
          relief or the making of an order for its winding-up or liquidation or (B)
          is not
          dismissed, discharged, stayed or restrained in each case within 30 days
          of the
          institution or presentation thereof; (5) has a resolution passed for its
          winding-up, official management or liquidation (other than pursuant to
          a
          consolidation, amalgamation or merger); (6) seeks or becomes subject to
          the
          appointment of an administrator, provisional liquidator, conservator, receiver,
          trustee, custodian or other similar official for it or for all or substantially
          all its assets; (7) has a secured party take possession of all or substantially
          all its assets or has a distress, execution, attachment, sequestration
          or other
          legal process levied, enforced or sued on or against all or substantially
          all
          its assets and such secured party maintains possession, or any such process
          is
          not dismissed, discharged, stayed or restrained, in each case within 30
          days
          thereafter; (8) causes or is subject to any event with respect to it which,
          under the applicable laws of any jurisdiction, has an analogous effect
          to any of
          the events specified in clauses (1)
          to
          (7)
          (inclusive); or (9) takes any action in furtherance of, or indicating its
          consent to, approval of, or acquiescence in, any of the foregoing acts;
          or

         

        (viii) Merger
          Without Assumption.
          The
          party
          or any Credit Support Provider of such party consolidates or amalgamates
          with,
          or merges with or into, or transfers all or substantially all its assets
          to,
          another entity and, at the time of such consolidation, amalgamation, merger
          or
          transfer:—

         

        (1) the
          resulting, surviving or transferee entity fails to assume all the obligations
          of
          such party or such Credit Support Provider under this Agreement or any
          Credit
          Support Document to which it or its predecessor was a party by operation
          of law
          or pursuant to an agreement reasonably satisfactory to the other party
          to this
          Agreement; or

         

        (2) the
          benefits of any Credit Support Document fail to extend (without the consent
          of
          the other party) to the performance by such resulting, surviving or transferee
          entity of its obligations under this Agreement.

         

        (b) Termination
          Events.
          The
          occurrence at any time with respect to a party or, if applicable, any
          Credit Support Provider of such party or any Specified Entity of such party
          of any event specified below constitutes an Illegality if the event is
          specified
          in (i) below, a Tax Event if the event is specified in (ii) below or a
          Tax
          Event Upon Merger if the event is specified in (iii) below, and, if
          specified to be applicable, a Credit Event 

         

        
          
            ISDAÒ
              1992

             

          

          
            6

            
              

            

          

          
             

          

        

        Upon Merger
          if the event is specified pursuant to (iv) below or an Additional Termination
          Event if the event is specified pursuant to (v) below:—

         

        (i) Illegality.
          Due
          to
          the adoption of, or any change in, any applicable law after the date on
          which a
          Transaction is entered into, or due to the promulgation of, or any change
          in,
          the interpretation by any court, tribunal or regulatory authority with
          competent
          jurisdiction of any applicable law after such date, it becomes unlawful
          (other
          than as a result of a breach by the party of Section 4(b)) for such party
          (which
          will be the Affected Party):—

         

        (1) to
          perform any absolute or contingent obligation to make a payment or delivery
          or
          to receive a payment or delivery in respect of such Transaction or to comply
          with any other material provision of this Agreement relating to such
          Transaction; or

         

        (2) to
          perform, or for any Credit Support Provider of such party to perform, any
          contingent or other obligation which the party (or such Credit Support
          Provider)
          has under any Credit Support Document relating to such Transaction;

         

        (ii) Tax
          Event. Due
          to
          (x) any action taken by a taxing authority, or brought in a court of competent
          jurisdiction, on or after the date on which a Transaction is entered into
          (regardless of whether such action is taken or brought with respect to
          a party
          to this Agreement) or (y) a Change in Tax Law, the party (which will be
          the
          Affected Party) will, or there is a substantial likelihood that it will,
          on the
          next succeeding Scheduled Payment Date (1) be required to pay to the other
          party
          an additional amount in respect of an Indemnifiable Tax under Section 2(d)(i)(4)
          (except in respect of interest under Section 2(e), 6(d)(ii) or 6(e)) or
          (2)
          receive a payment from which an amount is required to be deducted or withheld
          for or on account of a Tax (except in respect of interest under Section
          2(e),
          6(d)(ii) or 6(e)) and no additional amount is required to be paid in respect
          of
          such Tax under Section 2(d)(i)(4) (other than by reason of Section 2(d)(i)(4)(A)
          or (B));

         

        (iii) Tax
          Event Upon Merger. The
          party
          (the “Burdened Party”) on the next succeeding Scheduled Payment Date will either
          (1) be required to pay an additional amount in respect of an Indemnifiable
          Tax
          under Section 2(d)(i)(4) (except in respect of interest under Section 2(e),
          6(d)(ii) or 6(e)) or (2) receive a payment from which an amount has been
          deducted or withheld for or on account of any Indemnifiable Tax in respect
          of
          which the other party is not required to pay an additional amount (other
          than by
          reason of Section 2(d)(i)(4)(A) or (B)), in either case as a result of
          a party
          consolidating or amalgamating with, or merging with or into, or transferring
          all
          or substantially all its assets to, another entity (which will be the Affected
          Party) where such action does not constitute an event described in Section
          5(a)(viii);

         

        (iv) Credit
          Event Upon Merger. If
          “Credit Event Upon Merger” is specified in the Schedule as applying to the
          party, such party (“X”), any Credit Support Provider of X or any applicable
          Specified Entity of X consolidates or amalgamates with, or merges with
          or into,
          or transfers all or substantially all its assets to, another entity and
          such
          action does not constitute an event described in Section 5(a)(viii) but
          the
          creditworthiness of the resulting, surviving or transferee entity is materially
          weaker than that of X, such Credit Support Provider or such Specified Entity,
          as
          the case may be, immediately prior to such action (and, in such event,
          X or its
          successor or transferee, as appropriate, will be the Affected Party);
          or

         

        (v) Additional
          Termination Event. If
          any
“Additional Termination Event” is specified in the Schedule or any Confirmation
          as applying, the occurrence of such event (and, in such event, the Affected
          Party or Affected Parties shall be as specified for such Additional Termination
          Event in the Schedule or such Confirmation).

         

        (c) Event
          of Default and Illegality. If
          an
          event or circumstance which would otherwise constitute or give rise to
          an Event
          of Default also constitutes an Illegality, it will be treated as an Illegality
          and will not constitute an Event of Default.

         

        
          
            ISDAÒ
              1992

             

          

          
            7

            
              

            

          

          
             

          

        

        6. Early
          Termination

         

        (a) Right
          to Terminate Following Event of Default. If
          at
          any
          time an Event of Default with respect to a party (the “Defaulting Party”) has
          occurred and is then continuing, the other party (the “Non-defaulting Party”)
          may, by not more than 20 days notice to the Defaulting Party specifying
          the
          relevant Event of Default, designate a day not earlier than the day such
          notice
          is effective as an Early Termination Date in respect of all outstanding
          Transactions. If, however, “Automatic Early Termination” is specified in the
          Schedule as applying to a party, then an Early Termination Date in respect
          of
          all outstanding Transactions will occur immediately upon the occurrence
          with
          respect to such party of an Event of Default specified in Section 5(a)(vii)(1),
          (3), (5), (6) or, to the extent analogous thereto, (8), and as of the time
          immediately preceding the institution of
          the
          relevant proceeding or the presentation of the relevant petition upon the
          occurrence with respect to such party of an Event of Default specified
          in
          Section 5(a)(vii)(4) or, to the extent analogous thereto, (8).

         

        (b) Right
          to Terminate Following Termination Event.

         

        (i) Notice.
          If
          a
          Termination Event occurs, an Affected Party will, promptly upon becoming
          aware
          of it, notify the other party, specifying the nature of that Termination
          Event
          and each Affected Transaction and will also give such other information
          about
          that Termination Event as the other party may reasonably require.

         

        (ii) Transfer
          to Avoid Termination Event. If
          either
          an Illegality under Section 5(b)(i)(l) or a Tax Event occurs and there
          is only
          one Affected Party, or if a Tax Event Upon Merger occurs and the Burdened
          Party
          is the Affected Party, the Affected Party will, as a condition to its right
          to
          designate an Early Termination Date under Section 6(b)(iv), use all reasonable
          efforts (which will not require such party to incur a loss, excluding
          immaterial, incidental expenses) to transfer within 20 days after it gives
          notice under Section 6(b)(i) all its rights and obligations under this
          Agreement
          in respect of the Affected Transactions to another of its Offices or Affiliates
          so that such Termination Event ceases to exist.

         

        If
          the
          Affected Party is not able to make such a transfer it will give notice
          to the
          other party to that effect within such 20 day period, whereupon the other
          party
          may effect such a transfer within 30 days after the notice is given under
          Section 6(b)(i).

         

        Any
          such
          transfer by a party under this Section 6(b)(ii) will be subject to and
          conditional upon the prior written consent of the other party, which consent
          will not be withheld if such other party’s policies in effect at such time would
          permit it to enter into transactions with the transferee on the terms
          proposed.

         

        (iii) Two
          Affected Parties. If
          an
          Illegality under Section 5(b)(i)(1) or a Tax Event occurs and there are
          two
          Affected Parties, each party will use all reasonable efforts to reach agreement
          within 30 days after notice thereof is given under Section 6(b)(i) on action
          to
          avoid that Termination Event.

         

        (iv) Right
          to Terminate. If:—

         

        (1)
          a
          transfer under Section 6(b)(ii) or an agreement under Section 6(b)(iii),
          as the
          case may be, has not been effected with respect to all Affected Transactions
          within 30 days after an Affected Party gives notice under Section 6(b)(i);
          or

         

        (2)
          an
          Illegality under Section 5(b)(i)(2), a Credit Event Upon Merger or an Additional
          Termination Event occurs, or a Tax Event Upon Merger occurs and the Burdened
          Party is not the Affected Party,

         

        either
          party in the case of an Illegality, the Burdened Party in the case of a
          Tax
          Event Upon Merger, any Affected Party in the case of a Tax Event or an
          Additional Termination Event if
          there
          is
          more than one Affected Party, or the party which is not the Affected
          Party in the case of a Credit Event Upon Merger or an Additional
          Termination Event if there is only one Affected Party may, by not
          more than 20 days notice to the other party and provided that the
          relevant Termination Event is then 

         

        
          
            ISDAÒ
              1992

             

          

          
            8

            
              

            

          

          
             

          

        

        continuing,
          designate a day not earlier than the day such notice is effective as an
          Early
          Termination Date in respect of all Affected Transactions.

         

        (c) Effect
          of Designation.

         

        (i) If
          notice
          designating an Early Termination Date is given under Section 6(a) or (b),
          the
          Early Termination Date will occur on the date so designated, whether or
          not the
          relevant Event of
          Default
          or Termination Event is then continuing.

         

        (ii) Upon
          the
          occurrence or effective designation of an Early Termination Date, no further
          payments or deliveries under Section 2(a)(i) or 2(e) in respect of the
          Terminated Transactions will be required to be made, but without prejudice
          to
          the other provisions of this Agreement. The amount, if any, payable in
          respect
          of an Early Termination Date shall be determined pursuant to Section
          6(e).

         

        (d) Calculations.

         

        (i) Statement.
          On
          or as
          soon as reasonably practicable following the occurrence of an Early Termination
          Date, each party will make the calculations on its part, if any, contemplated
          by
          Section 6(e) and will provide to the other party a statement (1) showing,
          in
          reasonable detail, such calculations (including all relevant quotations
          and
          specifying any amount payable under Section 6(e)) and (2) giving details
          of the
          relevant account to which any amount payable to it is to be paid. In the
          absence
          of written confirmation from the source of a quotation obtained in determining
          a
          Market Quotation, the records of the party obtaining such quotation will
          be
          conclusive evidence of the existence and accuracy of such
          quotation.

         

        (ii) Payment
          Date. An
          amount
          calculated as being due in respect of any Early Termination Date under
          Section
          6(e) will be payable on the day that notice of the amount payable is effective
          (in the case of an Early Termination Date which is designated or occurs
          as a
          result of an Event of Default) and on the day which is two Local Business
          Days
          after the day on which notice of the amount payable is effective (in the
          case of
          an Early Termination Date which is designated as a result of a Termination
          Event). Such amount will be paid together with (to the extent permitted
          under
          applicable law) interest thereon (before as well as after judgment) in
          the
          Termination Currency, from (and including) the relevant Early Termination
          Date
          to (but excluding) the date such amount is paid, at the Applicable Rate.
          Such
          interest will be calculated on the basis of daily compounding and the actual
          number of days elapsed.

         

        (e) Payments
          on Early Termination. If
          an
          Early Termination Date occurs, the following provisions shall apply based
          on the
          parties’ election in the Schedule of a payment measure, either “Market
          Quotation” or “Loss”, and a payment method, either the “First Method” or the
“Second Method”. If the parties fail to designate a payment measure or payment
          method in the Schedule, it will be deemed that “Market Quotation” or the “Second
          Method”, as the case may be, shall apply. The amount, if any, payable in respect
          of an Early Termination Date and determined pursuant to this Section will
          be
          subject to any Set-off.

         

        (i) Events
          of Default. If
          the
          Early
          Termination Date results from an Event of Default:—

         

        (1) First
          Method and Market Quotation. If
          the
          First Method and Market Quotation apply, the Defaulting Party will pay
          to the
          Non-defaulting Party the excess, if a positive number, of (A) the sum of
          the
          Settlement Amount (determined by the Non-defaulting Party) in respect of
          the
          Terminated Transactions and the Termination Currency Equivalent of the
          Unpaid
          Amounts owing to the Non-defaulting Party over (B) the Termination Currency
          Equivalent of the Unpaid Amounts owing to the Defaulting Party.

         

        (2) First
          Method and Loss. If
          the
          First Method and Loss apply, the Defaulting Party will pay to the Non-defaulting
          Party, if a positive number, the Non-defaulting Party’s Loss in respect of this
          Agreement.

         

        (3) Second
          Method and Market Quotation. If
          the
          Second Method and Market Quotation apply, an amount will be payable equal
          to (A)
          the sum of
          the
          Settlement Amount (determined by the 

         

        
          
            ISDAÒ
              1992

             

          

          
            9

            
              

            

          

          
             

          

        

        Non-defaulting
          Party) in respect of the Terminated Transactions and the Termination Currency
          Equivalent of the Unpaid Amounts owing to the Non-defaulting Party less
          (B) the
          Termination Currency Equivalent of the Unpaid Amounts owing to the Defaulting
          Party. If that amount is a positive number, the Defaulting Party will pay
          it to
          the Non-defaulting Party; if it is a negative number, the Non-defaulting
          Party
          will pay the absolute value of that amount to the Defaulting Party.

         

        (4) Second
          Method and Loss. If
          the
          Second Method and Loss apply, an amount will be payable equal to the
          Non-defaulting Party’s Loss in respect of this Agreement. If that amount is a
          positive number, the Defaulting Party will pay it to the Non-defaulting
          Party;
          if it is a negative number, the Non-defaulting Party will pay the absolute
          value
          of that amount to the Defaulting Party.

         

        (ii) Termination
          Events. If
          the
          Early Termination Date results from a Termination Event:—

         

        (1) One
          Affected Party. If
          there
          is one Affected Party, the amount payable will be determined in accordance
          with
          Section 6(e)(i)(3), if Market Quotation applies, or Section 6(e)(i)(4),
          if Loss
          applies, except that, in either case, references to the Defaulting Party
          and to
          the Non-defaulting Party will be deemed to be references to the Affected
          Party
          and the party which is not the Affected Party, respectively, and, if Loss
          applies and fewer than all the Transactions are being terminated, Loss
          shall be
          calculated in respect of all Terminated Transactions.

         

        (2) Two
          Affected Parties. If
          there
          are two Affected Parties:—

         

        (A) if
          Market
          Quotation applies, each party will determine a Settlement Amount in respect
          of
          the Terminated Transactions, and an amount will be payable equal to (I)
          the sum
          of (a) one-half of the difference between the Settlement Amount of the
          party
          with the higher Settlement Amount (“X”) and the Settlement Amount of the party
          with the lower Settlement Amount (“Y”) and (b) the Termination Currency
          Equivalent of the Unpaid Amounts owing to X less (II) the Termination Currency
          Equivalent of the Unpaid Amounts owing to Y; and

         

        (B) if
          Loss
          applies, each party will determine its Loss in respect of this Agreement
          (or, if
          fewer than all the Transactions are being terminated, in respect of all
          Terminated Transactions) and an amount will be payable equal to one-half
          of
          the
          difference between the Loss of the party with the higher Loss (“X”) and the
Loss
          of
          the
          party with the lower Loss (“Y”).

         

        If
          the
          amount payable is a positive number, Y will pay it to X; if it is a negative
          number, X will pay the absolute value of that amount to Y.

         

        (iii) Adjustment
          for Bankruptcy. In
          circumstances where an Early Termination Date occurs because “Automatic Early
          Termination” applies in respect of a party, the amount determined under this
          Section 6(e) will be subject to such adjustments as are appropriate and
          permitted by law to reflect any payments or deliveries made by one party
          to the
          other under this Agreement (and retained by such other party) during the
          period
          from the relevant Early Termination Date to the date for payment determined
          under Section 6(d)(ii).

         

        (iv) Pre-Estimate.
          The
          parties agree that if Market Quotation applies an amount recoverable under
          this
          Section 6(e) is a reasonable pre-estimate of loss and not a penalty. Such
          amount
          is payable for the loss of bargain and the loss
          of protection
          against future risks and except as otherwise provided in this Agreement
          neither
          party will be entitled to recover any additional damages as a consequence
          of
          such losses.

         

        
          
            ISDAÒ
              1992

             

          

          
            10

            
              

            

          

          
             

          

        

        7. Transfer

         

        Subject
          to Section 6(b)(ii), neither this Agreement nor any interest or obligation
          in or
          under this Agreement may be transferred (whether by way of security or
          otherwise) by either party without the prior written consent of the other
          party,
          except that:—

         

        (a) a
          party
          may make such a transfer of this Agreement pursuant to a consolidation
          or
          amalgamation with, or merger with or into, or transfer of all or substantially
          all its assets to, another entity (but without prejudice to any other right
          or
          remedy under this Agreement); and

         

        (b) a
          party
          may make such a transfer of all or any part of its interest in any amount
          payable to it from a Defaulting Party under Section 6(e).

         

        Any
          purported transfer that is not in compliance with this Section will be
          void.

         

        8. Contractual
          Currency

         

        (a) Payment
          in the Contractual Currency. Each
          payment under this Agreement will be made in the relevant currency specified
          in
          this Agreement for that payment (the “Contractual Currency”). To the extent
          permitted by applicable law, any obligation to make payments under this
          Agreement in the Contractual Currency will not be discharged or satisfied
          by any
          tender in any currency other than the Contractual Currency, except to the
          extent
          such tender results in the actual receipt by the party to which payment
          is owed,
          acting in a reasonable manner and in good faith in converting the currency
          so
          tendered into the Contractual Currency, of the full amount in the Contractual
          Currency of all amounts payable in respect of this Agreement. If for any
          reason
          the amount in the Contractual Currency so received falls short of the amount
          in
          the Contractual Currency payable in respect of this Agreement, the party
          required to make the payment will, to the extent permitted by applicable
          law,
          immediately pay such additional amount in the Contractual Currency as may
          be
          necessary to compensate for the shortfall. If for any reason the amount
          in the
          Contractual Currency so received exceeds the amount in the Contractual
          Currency
          payable in respect of this Agreement, the party receiving the payment will
          refund promptly the amount of such excess.

         

        (b) Judgments.
          To
          the
          extent permitted by applicable law, if any judgment or order expressed
          in a
          currency other than the Contractual Currency is rendered (i) for the payment
          of
          any
          amount owing in respect of this Agreement, (ii) for the payment of any
          amount
          relating to any early termination in respect of this Agreement or (iii)
          in
          respect of a judgment or order of another court for the payment of any
          amount
          described in (i) or (ii) above, the party seeking recovery, after recovery
          in
          full of the aggregate amount to which such party is entitled pursuant to
          the
          judgment or order, will be entitled to receive immediately from the other
          party
          the amount of any shortfall of the Contractual Currency received by such
          party
          as a consequence of sums paid in such other currency and will refund promptly
          to
          the other party any excess of the Contractual Currency received by such
          party as
          a consequence of sums paid in such other currency if such shortfall or
          such
          excess arises or results from any variation between the rate of exchange
          at
          which the Contractual Currency is converted into the currency of the judgment
          or
          order for the purposes of such judgment or order and the rate of exchange
          at
          which such party is able, acting in a reasonable manner and in good faith
          in
          converting the currency received into the Contractual Currency, to purchase
          the
          Contractual Currency with the amount of the currency of the judgment or
          order
          actually received by such party. The term “rate of exchange” includes, without
          limitation, any premiums and costs of exchange payable in connection with
          the
          purchase of or conversion into the Contractual Currency.

         

        (c) Separate
          Indemnities.
          To
the
          extent permitted by applicable law, these indemnities constitute separate
          and
          independent obligations from the other obligations in this Agreement, will
          be
          enforceable as separate and independent causes of action, will apply
          notwithstanding any indulgence granted by the party to which any payment
          is owed
          and will not be affected by judgment being obtained or claim or proof being
          made
          for any other sums payable in respect of this Agreement.

         

        (d) Evidence
          of Loss. For
          the
          purpose of this Section 8, it will be sufficient for a party to demonstrate
          that
          it would have suffered a loss had an actual exchange or purchase been
          made.

         

        
          
            ISDAÒ
              1992

             

          

          
            11

            
              

            

          

          
             

          

        

        9. Miscellaneous

         

        (a) Entire
          Agreement. This
          Agreement constitutes the entire agreement and understanding of the parties
          with
          respect to its subject matter and supersedes all oral communication and
          prior
          writings with respect thereto.

         

        (b) Amendments.
          No
          amendment, modification or waiver in respect of this Agreement will be
          effective
          unless in writing (including a writing evidenced by a facsimile transmission)
          and executed by each of the parties or confirmed by an exchange of telexes
          or
          electronic messages on an electronic messaging system.

         

        (c) Survival
          of Obligations. Without
          prejudice to Sections 2(a)(iii) and 6(c)(ii), the obligations of the parties
          under this Agreement will survive the termination of any
          Transaction.

         

        (d) Remedies
          Cumulative. Except
          as
          provided in this Agreement, the rights, powers, remedies and privileges
          provided
          in this Agreement are cumulative and not exclusive of any rights, powers,
          remedies and privileges provided by law.

         

        (e) Counterparts
          and Confirmations.

         

        (i)
          This
          Agreement (and each amendment, modification and waiver in respect of it)
          may be
          executed and delivered in counterparts (including by facsimile transmission),
          each of which will be deemed an original.

         

        (ii)
          The
          parties intend that they are legally bound by the terms of each Transaction
          from
          the moment they agree to those terms (whether orally or otherwise). A
          Confirmation shall be entered into as soon as practicable and may be executed
          and delivered in counterparts (including by facsimile transmission) or
          be
          created by an exchange of telexes or by an exchange of electronic messages
          on an
          electronic messaging system, which in each case will be sufficient for
          all
          purposes to evidence a binding supplement to this Agreement. The parties
          will
          specify therein or through another effective means that any such counterpart,
          telex or electronic message constitutes a Confirmation.

         

        (f) No
          Waiver of Rights. A
          failure
          or delay in exercising any right, power or privilege in respect of this
          Agreement will not be presumed to operate as a waiver, and a single or
          partial
          exercise of any right, power or privilege will not be presumed to preclude
          any
          subsequent or further exercise, of that right, power or privilege or the
          exercise of any other right, power or privilege.

         

        (g) Headings.
          The
          headings used in this Agreement are for convenience of reference only and
          are
          not to affect the construction of or to be taken into consideration in
          interpreting this Agreement.

         

        10. Offices;
          Multibranch Parties

         

        (a) If
          Section 10(a) is specified in the Schedule as applying, each party that
          enters
          into a Transaction through an Office other than its head or home office
          represents to the other party that, notwithstanding the place of booking
          office
          or jurisdiction of incorporation or organisation of such party, the obligations
          of such party are the same as if it had entered into the Transaction through
          its
          head or home office. This representation will be deemed to be repeated
          by such
          party on each date on which a Transaction is entered into.

         

        (b) Neither
          party may change the Office through which it makes and receives payments
          or
          deliveries for the purpose of a Transaction without the prior written consent
          of
          the other party.

         

        (c) If
          a
          party is specified as a Multibranch Party in the Schedule, such Multibranch
          Party may make and receive payments or deliveries under any Transaction
          through
          any Office listed in the Schedule, and the Office through which it makes
          and
          receives payments or deliveries with respect to a Transaction will be specified
          in the relevant Confirmation.

         

        11. Expenses

         

        A
          Defaulting Party will, on demand, indemnify and hold harmless the other
          party
          for and against all reasonable out-of-pocket expenses, including legal fees
          and Stamp Tax, incurred by such other party by reason of the
          enforcement and protection of its rights under this Agreement or any Credit
          Support Document 

         

        
          
            ISDAÒ
              1992

             

          

          
            12

            
              

            

          

          
             

          

        

        to which
          the Defaulting Party is a party or by reason of the early termination of
          any
          Transaction, including, but not limited to, costs of collection.

         

        12. Notices

         

        (a) Effectiveness.
          Any
          notice or other communication in respect of this Agreement may be given
          in any
          manner set forth below (except that a notice or other communication under
          Section 5 or 6 may not be given by facsimile transmission or electronic
          messaging system) to the address or number or in accordance with the electronic
          messaging system details provided (see the Schedule) and will be deemed
          effective as indicated:—

         

        (i) if
          in
          writing and delivered in person or by courier, on the date it is delivered;
          

         

        (ii) if
          sent
          by telex, on the date the recipient’s answerback is received;

         

        (iii) if
          sent
          by facsimile transmission, on the date that transmission is received by
          a
          responsible employee of the recipient in legible form (it being agreed
          that the
          burden of proving receipt will be on the sender and will not be met by
          a
          transmission report generated by the sender’s facsimile machine);

         

        (iv) if
          sent
          by certified or registered mail (airmail, if overseas) or the equivalent
          (return
          receipt requested), on the date that mail is delivered or its delivery
          is
          attempted; or

         

        (v) if
          sent
          by electronic messaging system, on the date that electronic message is
          received,

         

        unless
          the date of that delivery (or attempted delivery) or that receipt, as
          applicable, is not a Local Business Day or that communication is delivered
          (or
          attempted) or received, as applicable, after the close of business on a
          Local
          Business Day, in which case that communication shall be deemed given and
          effective on the first following day that is a Local Business Day.

         

        (b) Change
          of Addresses. Either
          party may by notice to the other change the address, telex or facsimile
          number
          or electronic messaging system details at which notices or other communications
          are to be given to it.

         

        13. Governing
          Law and Jurisdiction

         

        (a) Governing
          Law. This
          Agreement will be governed by and construed in accordance with the law
          specified
          in the Schedule.

         

        (b) Jurisdiction.
          With
          respect to any suit, action or proceedings relating to this Agreement
          (“Proceedings”), each party irrevocably:—

         

        (i) submits
          to the jurisdiction of the English courts, if this Agreement is expressed
          to be
          governed by English law, or to the non-exclusive jurisdiction of the courts
          of
          the State of New York and the United States District Court located in the
          Borough of Manhattan in New York City, if this Agreement is expressed to
          be
          governed by the laws of the State of New York; and

         

        (ii) waives
          any objection which it may have at any time to the laying of venue of any
          Proceedings brought in any such court, waives any claim that such Proceedings
          have been brought in an inconvenient forum and further waives the right
          to
          object, with respect to such Proceedings, that such court does not have
          any
          jurisdiction over such party.

         

        Nothing
          in this Agreement precludes either party from bringing Proceedings in any
          other
          jurisdiction (outside, if this Agreement is expressed to be governed by
          English
          law, the Contracting States, as defined in Section 1(3) of the Civil
          Jurisdiction and Judgments Act 1982 or any modification, extension or
          re-enactment thereof for the time being in force) nor will the bringing
          of
          Proceedings in any one or more jurisdictions preclude the bringing of
          Proceedings in any other jurisdiction.

         

        (c) Service
          of Process.
          Each
          party irrevocably appoints the Process Agent (if any) specified opposite
          its name in the Schedule to receive, for it and on its behalf, service
          of process in any Proceedings. If for any 

         

        
          
            ISDAÒ
              1992

             

          

          
            13

            
              

            

          

          
             

          

        

        reason any
          party’s Process Agent is unable to act as such, such party will promptly notify
          the other party and within 30 days appoint a substitute process agent acceptable
          to the other party. The parties irrevocably consent to service of process
          given
          in the manner provided for notices in Section 12. Nothing in this Agreement
          will
          affect the right of either party to serve process in any other manner permitted
          by law.

         

        (d) Waiver
          of Immunities. Each
          party irrevocably waives, to the fullest extent permitted by applicable
          law,
          with respect to itself and its revenues and assets (irrespective of their
          use or
          intended use), all immunity on the grounds of sovereignty or other similar
          grounds from (i) suit, (ii) jurisdiction of any court, (iii) relief by
          way of
          injunction, order for specific performance or for recovery of property,
          (iv)
          attachment of its assets (whether before or after judgment) and (v) execution
          or
          enforcement of any judgment to which it or its revenues or assets might
          otherwise be entitled in any Proceedings in the courts of any jurisdiction
          and
          irrevocably agrees, to the extent permitted by applicable law, that it
          will not
          claim any such immunity in any Proceedings.

         

        14. Definitions

         

        As
          used
          in this Agreement:—

         

        “Additional
          Termination Event” has
          the
          meaning specified in Section 5(b).

         

        “Affected
          Party” has
          the
          meaning specified in Section 5(b).

         

        “Affected
          Transactions” means
          (a)
          with respect to any Termination Event consisting of an Illegality, Tax
          Event or
          Tax Event Upon Merger, all Transactions affected by the occurrence of such
          Termination Event and (b) with respect to any other Termination Event,
          all
          Transactions.

         

        “Affiliate”
          means,
          subject to the Schedule, in relation to any person, any entity controlled,
          directly or indirectly, by the person, any entity that controls, directly
          or
          indirectly, the person or any entity directly or indirectly under common
          control
          with the person. For this purpose, “control” of any entity or person means
          ownership of a majority of the voting power of the entity or
          person.

         

        “Applicable
          Rate”
          means:—

         

        (a) in
          respect of obligations payable or deliverable (or which would have been
          but for
          Section 2(a)(iii)) by a Defaulting Party, the Default Rate;

         

        (b)
          in
          respect of an obligation to pay an amount under Section 6(e) of either
          party
          from and after the date (determined in accordance with Section 6(d)(ii))
          on
          which that amount is payable, the Default Rate;

         

        (c) in
          respect of all other obligations payable or deliverable (or which would
          have
          been but for Section 2(a)(iii)) by a Non-defaulting Party, the Non-default
          Rate;
          and

         

        (d) in
          all
          other cases, the Termination Rate.

         

        “Burdened
          Party” has
          the
          meaning specified in Section 5(b).

         

        “Change
          in Tax Law” means
          the
          enactment, promulgation, execution or ratification of, or any change in
          or
          amendment to, any law (or in the application or official interpretation
          of any
          law) that occurs on or after the date on which the relevant Transaction
          is
          entered into.

         

        “consent”
          includes
          a consent, approval, action, authorisation, exemption, notice, filing,
          registration or exchange control consent.

         

        “Credit
          Event Upon Merger” has
          the
          meaning specified in Section 5(b).

         

        “Credit
          Support Document” means
          any
          agreement or instrument that is specified as such in this Agreement.

         

        “Credit
          Support Provider” has
          the
          meaning specified in the Schedule.

         

        “Default
          Rate” means
          a
          rate per annum equal to the cost (without proof or evidence of any actual
          cost)
          to the relevant payee (as certified by it) if it were to fund or of funding
          the
          relevant amount plus 1% per annum.

         

        
          
            ISDAÒ
              1992

             

          

          
            14

            
              

            

          

          
             

          

        

        “Defaulting
          Party” has
          the
          meaning specified in Section 6(a).

         

        “Early
          Termination Date” means
          the
          date determined in accordance with Section 6(a) or 6(b)(iv). 

         

        “Event
          of Default” has
          the
          meaning specified in Section 5(a) and, if applicable, in the Schedule.
          

         

        “Illegality”
          has
          the
          meaning specified in Section 5(b).

         

        “Indemnifiable
          Tax” means
          any
          Tax other than a Tax that would not be imposed in respect of a payment
          under
          this Agreement but for a present or former connection between the jurisdiction
          of the government or taxation authority imposing such Tax and the recipient
          of
          such payment or a person related to such recipient (including, without
          limitation, a connection arising from such recipient or related person
          being or
          having been a citizen or resident of such jurisdiction, or being or having
          been
          organised, present or engaged in a trade or business in such jurisdiction,
          or
          having or having had a permanent establishment or fixed place of business
          in
          such jurisdiction, but excluding a connection arising solely from such
          recipient
          or related person having executed, delivered, performed its obligations
          or
          received a payment under, or enforced, this Agreement or a Credit Support
          Document).

         

        “law”
          includes
          any treaty, law, rule or regulation (as modified, in the case of tax matters,
          by
          the practice of any relevant governmental revenue authority) and “lawful”
          and
          “unlawful”
          will
          be
          construed accordingly.

         

        “Local
          Business Day” means,
          subject to the Schedule, a day on which commercial banks are open for business
          (including dealings in foreign exchange and foreign currency deposits)
          (a) in
          relation to any obligation under Section 2(a)(i), in the place(s) specified
          in
          the relevant Confirmation or, if not so specified, as otherwise agreed
          by the
          parties in writing or determined pursuant to provisions contained, or
          incorporated by reference, in this Agreement, (b) in relation to any other
          payment, in the place where the relevant account is located and, if different,
          in the principal financial centre, if any, of the currency of such payment,
          (c)
          in relation to any notice or other communication, including notice contemplated
          under Section 5(a)(i), in the city specified in the address for notice
          provided
          by the recipient and, in the case of a notice contemplated by Section 2(b),
          in
          the place where the relevant new account is to be located and (d) in relation
          to
          Section 5(a)(v)(2), in the relevant locations for performance with respect
          to
          such Specified Transaction.

         

        “Loss”
          means,
          with respect to this Agreement or one or more Terminated Transactions,
          as the
          case may be, and a party, the Termination Currency Equivalent of an amount
          that
          party reasonably determines in good faith to be its total losses and costs
          (or
          gain, in which case expressed as a negative number) in connection with
          this
          Agreement or that Terminated Transaction or group of Terminated Transactions,
          as
          the case may be, including any loss of bargain, cost of funding or, at
          the
          election of such party but without duplication, loss or cost incurred as
          a
          result of its terminating, liquidating, obtaining or reestablishing any
          hedge or
          related trading position (or any gain resulting from any of them). Loss
          includes
          losses and costs (or gains) in respect of any payment or delivery required
          to
          have been made (assuming satisfaction of each applicable condition precedent)
          on
          or before the relevant Early Termination Date and not made, except, so
          as to
          avoid duplication, if Section 6(e)(i)(1) or (3) or 6(e)(ii)(2)(A) applies.
          Loss
          does not include a party’s legal fees and out-of-pocket expenses referred to
          under Section 11. A party will determine its Loss as of the relevant Early
          Termination Date, or, if that is not reasonably practicable, as of the
          earliest
          date thereafter as is reasonably practicable. A party may (but need not)
          determine its Loss by reference to quotations of relevant rates or prices
          from
          one or more leading dealers in the relevant markets.

         

        “Market
          Quotation” means,
          with respect to one or more Terminated Transactions and a party making
          the
          determination, an amount determined on the basis of quotations from Reference
          Market-makers. Each quotation will be for an amount, if any, that would
          be paid
          to such party (expressed as a negative number) or by such party (expressed
          as a
          positive number) in consideration of an agreement between such party (taking
          into account any existing Credit Support Document with respect to the
          obligations of such party) and the quoting Reference Market-maker to enter
          into
          a transaction (the “Replacement Transaction”) that would have the effect of
          preserving for such party the economic equivalent of any payment or delivery
          (whether the underlying obligation was absolute or contingent and assuming
          the
          satisfaction of each applicable condition precedent) by the parties under
          Section 2(a)(i) in respect of such Terminated Transaction or group of Terminated
          Transactions that would, but for the occurrence of the relevant Early
          Termination Date, have been required after that date. For this purpose,
          Unpaid
          Amounts in respect of the Terminated Transaction or group of Terminated
          Transactions are to be excluded
          but,
          without limitation, any payment or delivery that would, but for the relevant
          Early Termination Date, have 

         

        
          
            ISDAÒ
              1992

             

          

          
            15

            
              

            

          

          
             

          

        

        been required
          (assuming satisfaction of each applicable condition precedent) after that
          Early
          Termination Date is to be included. The Replacement
          Transaction would be subject to such documentation as such party and the
          Reference Market-maker may, in good faith, agree. The party making the
          determination (or its agent) will request each Reference Market-maker to
          provide
          its quotation to the extent reasonably practicable as of the same day and
          time
          (without regard to different time zones) on or as soon as reasonably practicable
          after the relevant Early Termination Date. The day and time as of which
          those
          quotations are to be obtained will be selected in good faith by the party
          obliged to make a determination under Section 6(e), and, if each party
          is so
          obliged, after consultation with the other. If more than three quotations
          are
          provided, the Market Quotation will be the arithmetic mean of the quotations,
          without regard to the quotations having the highest and lowest values.
          If
          exactly three such quotations are provided, the Market Quotation will be
          the
          quotation remaining after disregarding the highest and lowest quotations.
          For
          this purpose, if more than one quotation has the same highest value or
          lowest
          value, then one of such quotations shall be disregarded. If fewer than
          three
          quotations are provided, it will be deemed that the Market Quotation in
          respect
          of such Terminated Transaction or group of Terminated Transactions cannot
          be
          determined.

         

        “Non-default
          Rate” means
          a
          rate per annum equal to the cost (without proof or evidence of any actual
          cost)
          to the Non-defaulting Party (as certified by it) if it were to fund the
          relevant
          amount.

         

        “Non-defaulting
          Party” has
          the
          meaning specified in Section 6(a).

         

        “Office”
          means
          a
          branch or office of a party, which may be such party’s head or home
          office.

         

        “Potential
          Event of
          Default”
          means
          any
          event which, with the giving of notice or the lapse of time or both, would
          constitute an Event of Default.

         

        “Reference
          Market-makers” means
          four leading dealers in the relevant market selected by the party determining
          a
          Market Quotation in good faith (a) from among dealers of the highest credit
          standing which satisfy all the criteria that such party applies generally
          at the
          time in deciding whether to offer or to make an extension of credit and
          (b) to
          the extent practicable, from among such dealers having an office in the
          same
          city.

         

        “Relevant
          Jurisdiction” means,
          with respect to a party, the jurisdictions (a) in which the party is
          incorporated, organised, managed and controlled or considered to have its
          seat,
          (b) where an Office through which the party is acting for purposes of this
          Agreement is located, (c) in which the party executes this Agreement and
          (d) in
          relation to any payment, from or through which such payment is
          made.

         

        “Scheduled
          Payment Date” means
          a
          date on which a payment or delivery is to be made under Section 2(a)(i)
          with
          respect to a Transaction.

         

        “Set-off”
          means
          set-off, offset, combination of accounts, right of retention or withholding
          or
          similar right or requirement to which the payer of an amount under Section
          6 is
          entitled or subject (whether arising under this Agreement, another contract,
          applicable law or otherwise) that is exercised by, or imposed on, such
          payer.

         

        “Settlement
          Amount” means,
          with respect to a party and any Early Termination Date, the sum
          of:—

         

        (a) the
          Termination Currency Equivalent of the Market Quotations (whether positive
          or
          negative) for each Terminated Transaction or group of Terminated Transactions
          for which a Market Quotation is determined; and

         

        (b) such
          party’s Loss (whether positive or negative and without reference to any Unpaid
          Amounts) for each Terminated Transaction or group of Terminated Transactions
          for
          which a Market Quotation cannot be determined or would not (in the reasonable
          belief of the party making the determination) produce a commercially reasonable
          result.

         

        “Specified
          Entity” has
          the
          meanings specified in the Schedule.

         

        
          
            ISDAÒ
              1992

             

          

          
            16

            
              

            

          

          
             

          

        

        “Specified
          Indebtedness” means,
          subject to the Schedule, any obligation (whether present or future, contingent
          or otherwise, as principal or surety or otherwise) in respect of borrowed
          money.

         

        “Specified
          Transaction” means,
          subject to the Schedule, (a) any transaction (including an agreement with
          respect thereto) now existing or hereafter entered into between one party
          to
          this Agreement (or any Credit Support Provider of such party or any applicable
          Specified Entity of such party) and the other party to this Agreement (or
          any
          Credit Support Provider of such other party or any applicable Specified
          Entity
          of such other party) which is a rate swap transaction, basis swap, forward
          rate
          transaction, commodity swap, commodity option, equity or equity index swap,
          equity or equity index option, bond option, interest rate option, foreign
          exchange transaction, cap transaction, floor transaction, collar transaction,
          currency swap transaction, cross-currency rate swap transaction, currency
          option
          or any other similar transaction (including any option with respect to
          any of
          these transactions), (b) any combination of these transactions and (c)
          any other
          transaction identified as a Specified Transaction in this Agreement or
          the
          relevant confirmation.

         

        “Stamp
          Tax” means
          any
          stamp, registration, documentation or similar tax.

         

        “Tax”
          means
          any
          present or future tax, levy, impost, duty, charge, assessment or fee of
          any
          nature (including interest, penalties and additions thereto) that is imposed
          by
          any government or other taxing authority in respect of any payment under
          this
          Agreement other than a stamp, registration, documentation or similar
          tax.

         

        “Tax
          Event” has
          the
          meaning specified in Section 5(b).

         

        “Tax
          Event Upon Merger” has
          the
          meaning specified in Section 5(b).

         

        “Terminated
          Transactions” means
          with respect to any Early Termination Date (a) if resulting from a Termination
          Event, all Affected Transactions and (b) if resulting from an Event of
          Default,
          all Transactions (in either case) in effect immediately before the effectiveness
          of the notice designating that Early Termination Date (or, if “Automatic Early
          Termination” applies, immediately before that Early Termination
          Date).

         

        “Termination
          Currency” has
          the
          meaning specified in the Schedule.

         

        “Termination
          Currency Equivalent” means,
          in
          respect of any amount denominated in the Termination Currency, such Termination
          Currency amount and, in respect of any amount denominated in a currency
          other
          than the Termination Currency (the “Other Currency”), the amount in the
          Termination Currency determined by the party making the relevant determination
          as being required to purchase such amount of such Other Currency as at
          the
          relevant Early Termination Date, or, if the relevant Market Quotation or
          Loss
          (as the case may be), is determined as of a later date, that later date,
          with
          the Termination Currency at the rate equal to the spot exchange rate of
          the
          foreign exchange agent (selected as provided below) for the purchase of
          such
          Other Currency with the Termination Currency at or about 11:00 a.m. (in
          the city
          in which such foreign exchange agent is located) on such date as would
          be
          customary for the determination of such a rate for the purchase of such
          Other
          Currency for value on the relevant Early Termination Date or that later
          date.
          The foreign exchange agent will, if only one party is obliged to make a
          determination under Section 6(e), be selected in good faith by that party
          and
          otherwise will be agreed by the parties.

         

        “Termination
          Event” means
          an
          Illegality, a Tax Event or a Tax Event Upon Merger or, if specified to
          be
          applicable, a Credit Event Upon Merger or an Additional Termination
          Event.

         

        “Termination
          Rate” means
          a
          rate per annum equal to the arithmetic mean of the cost (without proof
          or
          evidence of any actual cost) to each party (as certified by such party)
          if it
          were to fund or of funding such amounts.

         

        “Unpaid
          Amounts” owing
          to
          any party means, with respect to an Early Termination Date, the aggregate
          of
          (a) in respect of all Terminated Transactions, the amounts that became
          payable (or that would have become payable but for Section 2(a)(iii)) to
          such party under Section 2(a)(i) on or prior to such Early Termination
          Date
          and which remain unpaid as at such Early Termination Date and (b) in
          respect of each Terminated Transaction, for each obligation under
          Section 2(a)(i) which was (or would have been but for
          Section 2(a)(iii)) required to be settled by delivery to such party on
          or prior to such Early Termination Date and which has not been so settled
          as at such Early Termination Date, an amount equal to the fair market

         

        
          
            ISDAÒ
              1992

             

          

          
            17

            
              

            

          

          
             

          

        

        value of that which
          was (or would have been) required to be delivered as of the originally
          scheduled
          date for delivery, in each case together with (to the extent permitted
          under applicable law) interest, in the currency of such amounts, from (and
          including) the date such amounts or obligations were or would have been
          required
          to have been paid or performed to (but excluding) such Early Termination
          Date, at the Applicable Rate. Such amounts of interest will be calculated
          on the
          basis of daily compounding and the actual number of days elapsed.  The
          fair market value of any obligation referred to in clause (b) above shall
          be
          reasonably determined by the party obliged to make the determination under
          Section 6(e) or, if each party is so obliged, it shall be the average of
          the Termination Currency Equivalents of the fair market values reasonably
          determined by both parties.

         

        IN
          WITNESS WHEREOF the parties have executed this document on the respective
          dates
          specified below with effect from the date specified on the first page of
          this document.

         

        

        
          	
                  MORGAN
                    STANLEY CAPITAL SERVICES INC.

                	 
	 	 
	 	 
	 	 
	
                  By:

                	 	 
	 	
                  Name:

                  Title:

                	 	 

        

        

        

        
          
             

          

          
             

            
              

            

          

          
             

          

        

        
          	 	
                  WILMINGTON
                    TRUST COMPANY

                  in
                    its capacity as Subordination Agent on behalf of the Trustee
                    under the
                    Continental Airlines Pass Through Trust 2006-1G

                
	 	 
	 	 
	 	 
	 	
                  By:

                	 
	 	 	
                  Name:

                  Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00105-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00105-of-00352.parquet"}]]