Document:

EXHIBIT 10.29

 Exhibit 10.29 
  
 ACAS BUSINESS LOAN TRUST 2005-1 
 ASSET-BACKED NOTES 
 SERIES 2005-1 
  
 $435,000,000 CLASS A-1 NOTES 
  

$50,000,000 CLASS A-2B NOTES 
  
 $50,000,000 CLASS B NOTES 
  
 $145,000,000 CLASS C NOTES 
  
 PURCHASE AGREEMENT 
  
 September 29, 2005 
  
 Wachovia Capital Markets, LLC 
 Citigroup Global Markets Inc. 
 Banc of America Securities LLC 
 BB&T Capital Markets, 
     a division of Scott & Stringfellow, Inc. 
 Harris Nesbitt Corp. 
 HVB Capital Markets, Inc. 
 as
the Initial Purchasers (the “Initial Purchasers”) 
 c/o Wachovia Capital Markets, LLC 
 as representative of the Initial Purchasers (the “Representative”) 
 One Wachovia Center 
 301 South College Street 
 Charlotte, North Carolina 28288 
  
 Ladies and Gentlemen: 
  

	 	Section 1.	Authorization of Notes. 

  
 American Capital Strategies, Ltd. (“American Capital” or the “Company”), ACAS Business Loan LLC, 2005-1 (the
“Trust Depositor”) and ACAS Business Loan Trust 2005-1, a Delaware statutory trust (the “Trust”) have duly authorized the sale of the ACAS Business Loan Trust Notes, Series 2005-1, consisting of the Class A-1
Floating Rate Asset Backed Notes (the “Class A-1 Notes”), the Class A-2A Delayed Draw Floating Rate Asset Backed Notes (the “Class A-2A Notes”), the Class A-2B Floating Rate Asset Backed Notes (the
“Class A-2B Notes” and, together with the Class A-1 Notes and the Class A-2A Notes, the “Class A Notes”), the Class B Floating Rate Deferrable Asset Backed Notes (the “Class B Notes”), the
Class C Floating Rate Deferrable Asset Backed Notes (the “Class C Notes”, together with the Class A Notes and the Class B Notes the “Offered Notes”), the Class D Principal Only Asset Backed Notes (the
“Class D Notes”) and the Class E Principal Only Asset Backed Note (the “Class E Note” and together with the Offered Notes and the Class D Notes, the “Notes”) of the Trust. The Trust is governed by
an Amended and Restated Trust Agreement, dated as of October 4, 2005 (the “Trust Agreement”), among the Trust Depositor, Wachovia Bank of Delaware, National 

 
Association, as owner trustee (the “Owner Trustee”) and the Company, as servicer. The Class A-1 Notes will be issued in an aggregate
initial principal amount of $435,000,000, the Class A-2A Notes will be issued in an aggregate initial principal amount of up to $150,000,000, the Class A-2B Notes will be issued in aggregate initial principal amount of $50,000,000, the
Class B Notes will be issued in an aggregate initial principal amount of $50,000,000, the Class C Notes will be issued in an aggregate initial principal amount of $145,000,000, the Class D Notes will be issued in an aggregate initial principal
amount of $90,000,000, and the Class E Note will be issued in an aggregate initial principal amount of $80,000,000. For each Interest Accrual Period, the Class A-1 Notes shall bear interest at a per annum rate equal to the then
applicable LIBOR plus 0.25% per annum, Class A-2A Notes shall bear interest at a per annum rate equal to the then applicable LIBOR plus 0.20% per annum, Class A-2B Notes shall bear interest at a per
annum rate equal to the then applicable LIBOR plus 0.35% per annum, the Class B Notes shall bear interest at a per annum rate equal to the then applicable LIBOR plus 0.40% per annum and the Class C Notes will bear
interest at a per annum rate equal to the then applicable LIBOR plus 0.85% per annum; provided, however, that the LIBOR rate on the Offered Notes for the initial Interest Accrual Period is a four-month
LIBOR rate and for each Interest Accrual Period thereafter will be Three-Month LIBOR. The Notes will be issued pursuant to an Indenture, dated as of October 4, 2005 (the “Indenture”), between the Trust and Wells Fargo Bank,
National Association, as Indenture Trustee (the “Indenture Trustee”). The Notes will be secured by the assets of the Trust. 
  
 In addition to the Notes, the Trust is issuing a certificate (the “Certificate”). The Certificate will represent fractional undivided
ownership interests in the Trust. The Certificate will be issued pursuant to the Trust Agreement. 
  
 The primary assets of the Trust will be a pool of commercial business loans, or interests therein, originated or acquired by the Company from time to time
(collectively, the “Business Loans”). The Trust Depositor will acquire the Business Loans and certain related assets from the Company pursuant to the ACAS Transfer Agreement, dated as of October 4, 2005 (the “Transfer
Agreement”) between the Company and the Trust Depositor. Pursuant to a Transfer and Servicing Agreement, dated as of October 4, 2005 (the “Transfer and Servicing Agreement”), among the Trust, the Company, the Trust
Depositor and the Indenture Trustee, the Trust Depositor will sell, transfer and convey to the Trust, without recourse, all of its right, title and interest in the Business Loans and certain related assets to the Trust. Pursuant to the Indenture, as
security for the indebtedness represented by the Notes, the Trust will pledge and grant to the Indenture Trustee a security interest in the Business Loans and certain related assets and its rights under the Transfer Agreement and the Transfer and
Servicing Agreement. This Purchase Agreement (the “Agreement”), the Trust Agreement, the Transfer Agreement, the Transfer and Servicing Agreement and the Indenture are referred to collectively as the “Transaction
Documents.” Capitalized terms used but not defined herein shall have the meanings provided in the Transfer and Servicing Agreement. 
  
 The Offered Notes are to be offered without being registered under the Securities Act of 1933, as amended (the “Securities Act”), to
“qualified institutional buyers” in compliance with the exemption from registration provided by Rule 144A under the Securities Act (“QIBs”) who are “qualified purchasers” (“Qualified Purchasers”)
for purposes of Section 3(c)(7) of the Investment Company Act of 1940, as amended (the “1940 Act”), in offshore transactions in 

  

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reliance on Regulation S under the Securities Act (“Regulation S”) except with respect of the Class A-2A Notes prior to the Commitment
Termination Date, to QIBs in compliance with Section 4(2) of the Securities Act who are Qualified Purchasers, and to institutional “accredited investors” (as defined in Rule 501(a)(l), (2), (3) or (7) under Regulation D of
the Securities Act) (“Institutional Accredited Investors”) who are Qualified Purchasers that deliver a letter in the form of Exhibit D-1 to the Indenture. 
  
 In connection with the sale of the Offered Notes, the Company has prepared a preliminary offering memorandum dated
September 14, 2005 (including any exhibits thereto, the “Preliminary Memorandum”) and a final confidential offering memorandum dated the date hereof (including any exhibits, amendments or supplements thereto, the “Final
Memorandum”, and each of the Preliminary Memorandum and the Final Memorandum, a “Memorandum”) including a description of the terms of the Offered Notes, the terms of the offering, and a description of the Trust. 

 
 The Company, the Trust Depositor and the Trust hereby agree with you, as
the Initial Purchasers, as follows: 
  

	 	Section 2.	Purchase of the Offered Notes. 

  
 (a) Subject to the terms and conditions and in reliance upon the representations and warranties set forth herein, the Trust agrees to sell to the Initial
Purchasers the Class A-1 Notes, the Class A-2B Notes, the Class B Notes and the Class C Notes (collectively, the “Purchased Notes”), and the Representative on behalf of the several Initial Purchasers has agreed to purchase
the aggregate principal amount of Purchased Notes set forth on Schedule I hereto at the purchase price set forth thereon. It is understood and agreed that the Initial Purchasers are not acquiring, and have no obligation to acquire, the
Class A-2A Notes, the Class D Notes, the Class E Note or the Certificate. 
  
 (b) In addition, whether or not the transaction contemplated hereby shall be consummated, the Company agrees to pay all other costs and expenses incident to the performance by the Company of its obligations hereunder
and under the documents to be executed and delivered in connection with the offering, issuance, sale and delivery of the Notes, including, without limitation or duplication: (i) the fees and disbursements of counsel to the Company;
(ii) the fees and expenses of any trustees or custodian due to such trustees’ or custodian’s initial expenses incurred in connection with the issuance of the Notes and its counsel; (iii) the fees and expenses of any bank
establishing and maintaining accounts on behalf of the holders of the Notes or in connection with the transaction; (iv) the fees and expenses of the accountants for the Company, including the fees for the “comfort letters” or
“agreed-upon procedures letters” required by the Initial Purchasers, any rating agency or any purchaser in connection with the offering, sale, issuance and delivery of the Notes; (v) all expenses incurred in connection with the
preparation and distribution of the Preliminary Memorandum and the Final Memorandum and other disclosure materials prepared and distributed and all expenses incurred in connection with the preparation and distribution of the Transaction Documents;
(vi) the fees charged by any securities rating agency for rating the Offered Notes and the Class D Notes; (vii) the fees for any securities identification service for any CUSIP or similar identification number required by the purchasers or
requested by the Initial Purchasers; (viii) the 

  

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fees and disbursements of counsel to the Initial Purchasers; (ix) all expenses in connection with the qualification of the Offered Notes for offering
and sale under state securities laws, including the reasonable fees and disbursements of counsel and, if requested by the Initial Purchasers, the cost of the preparation and reproduction of any “blue sky” or legal investment memoranda;
(x) any federal, state or local taxes, registration or filing fees (including Uniform Commercial Code financing statements) or other similar payments to any federal, state or local governmental authority in connection with the offering, sale,
issuance and delivery of the Offered Notes; and (xi) the reasonable fees and expenses of any special counsel or other experts required to be retained to provide advice, opinions or assistance in connection with the offering, issuance, sale and
delivery of the Notes. 
  
 (c) It is understood and agreed that
nothing in this Agreement shall prevent the Initial Purchasers from entering into any agency agreements, underwriting agreements or other similar agreements governing the offer and sale of securities with any issuer or issuers of securities, and
nothing contained herein shall be construed in any way as precluding or restricting the Initial Purchasers’ right to sell or offer for sale any securities issued by any person, including securities similar to, or competing with, the Notes.

  

	 	Section 3.	Delivery. 

  
 Delivery of the Offered Notes shall be made in the form of one or more global certificates delivered to the Indenture Trustee, as custodian for the
nominee of The Depository Trust Company, except that any Purchased Note to be sold by the Initial Purchasers to an Institutional Accredited Investor that is not a QIB shall be delivered in fully registered, certificated form in the minimum
denominations set forth in the Final Memorandum at the offices of Dechert LLP, Charlotte, North Carolina at 10:00 a.m. Charlotte, North Carolina time, on October 4, 2005, or such other place, time or date as may be mutually agreed upon by the
Initial Purchasers and the Company (the “Closing Date”) against payment by the Initial Purchasers of the purchase price thereof to or upon the order of the Company (on behalf of the Trust) by wire transfer payable in same-day funds
to the account specified by the Company. Subject to the foregoing, the Purchased Notes will be registered in such names and such denominations as the Initial Purchasers shall specify in writing to the Company and the Indenture Trustee prior to the
Closing Date. 
  

	 	Section 4.	Representations and Warranties of the Company. 

  
 The Company represents and warrants to the Initial Purchasers, as of the Closing Date, that: 
  
 (a) Each Memorandum does not and will not, and any amendments thereof or supplement thereto and any additional information
and documents concerning the Notes delivered by or on behalf of the Company to prospective purchasers of the Offered Notes (collectively, such additional information and documents, the “Additional Offering Documents”), each as of
their respective dates or the date on which such statement was made and as of the Closing Date, do not and will not include an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements in each, in
light of the circumstances under which they were made, not misleading; provided, that, the Company makes 

  

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no representation or warranty as to the information contained in or omitted from either Memorandum, or any amendment or supplement thereto, in reliance upon
and in conformity with information furnished in writing to the Company by or on behalf of the Initial Purchasers specifically for inclusion therein. 
  
 (b) The Company is a Delaware corporation, duly organized and validly existing under the laws of the state of Delaware, has all power and authority
necessary to own or hold its properties and conduct its business in which it is engaged as described in each Memorandum and has all licenses necessary to carry on its business as it is now being conducted and is licensed and qualified in each
jurisdiction in which the conduct of its business (including without limitation the originating and acquiring of Business Loans and performing its obligations hereunder and under the Transaction Documents) requires such licensing or qualification.

  
 (c) This Agreement has been duly authorized, executed and
delivered by the Company, and, assuming due authorization, execution and delivery thereof by the other parties hereto, constitutes a valid and legally binding obligation of the Company enforceable against the Company in accordance with its terms,
subject to the effect of bankruptcy, insolvency, reorganization, moratorium and other similar laws relating to or affecting creditors’ rights generally or the application of equitable principles in any proceeding, whether at law or in equity.

  
 (d) The Transfer Agreement and the Transfer and Servicing
Agreement have been duly authorized, executed and delivered by the Company and, assuming due authorization, execution and delivery thereof by the other parties thereto, constitute valid and binding obligations of the Company, enforceable against the
Company in accordance with their respective terms, subject to the effect of bankruptcy, insolvency, reorganization, moratorium and other similar laws relating to or affecting creditors’ rights generally or the application of equitable
principles in any proceeding, whether at law or in equity. 
  
 (e)
The Offered Notes have been duly authorized, and when executed and authenticated in accordance with the Indenture and delivered to and paid for by the Initial Purchasers in accordance with this Agreement, the Offered Notes will constitute valid and
binding obligations of the Trust, enforceable against the Trust in accordance with their terms, subject to the effect of bankruptcy, insolvency, reorganization, moratorium and other similar laws relating to or affecting creditors’ rights
generally or the application of equitable principles in any proceeding, whether at law or in equity, and will be entitled to the benefits of the Indenture. 
  
 (f) Other than as set forth in or contemplated by each Memorandum, there are no legal or governmental proceedings pending to which the Company is a party
or of which any property or assets of the Company are the subject of which, if determined adversely to the Company, would individually or in the aggregate have a material adverse effect on the financial position, business or results of operations of
the Company and its subsidiaries taken as a whole or on the performance by the Company of its obligations hereunder or under the Transaction Documents (a “Material Adverse Effect”); and, to the best knowledge of the Company, no such
proceedings are threatened or contemplated by governmental authorities or threatened by others. 
  

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 (g) The execution, delivery and performance of this Agreement and the other Transaction Documents to
which it is a party by the Company and the consummation by the Company of the transactions contemplated herein and therein and in all documents relating to the Notes will not result in any material breach or violation of, or constitute a material
default under, any agreement or instrument to which the Company is a party or to which any of its properties or assets are subject, except for such of the foregoing as to which relevant waivers or amendments have been obtained and are in full force
and effect, nor will any such action result in a violation of the Certificate of Incorporation or By-Laws of the Company or any law or any order, decree, rule or regulation of any court or governmental agency having jurisdiction over the Company or
its properties. 
  
 (h) The Trust is not, and, upon giving effect
to the transactions contemplated hereby, will not be required to register as an “investment company” under the 1940 Act, as amended. 
  
 (i) Assuming the Initial Purchasers’ representations are true and accurate, it is not necessary in connection with the offer, sale and delivery of
the Offered Notes in the manner contemplated by this Agreement and the Final Memorandum to register the Offered Notes under the Securities Act or to qualify the Indenture under the Trust Indenture Act of 1939, as amended. 
  
 (j) The Offered Notes satisfy the requirements set forth in Rule 144A(d)(3)
under the Securities Act. 
  
 (k) At the time of execution and
delivery of the Transfer and Servicing Agreement and after giving effect to any releases pursuant to the Warehouse Transactions, the Trust Depositor owned the Business Loans free and clear of all liens, encumbrances, adverse claims or security
interests (“Liens”) except for Permitted Liens, and the Trust Depositor had the power and authority to transfer the Business Loans to the Trust. 
  
 (l) Upon the execution and delivery of the Transaction Documents, payment by the Initial Purchasers for the Offered Notes
and delivery to the Initial Purchasers of the Offered Notes, the Trust will own the Business Loans and the Initial Purchasers will acquire title to the Offered Notes, in each case free of Liens except such Liens as may be created or granted by the
Initial Purchasers and those permitted by the Transaction Documents. 
  
 (m) Assuming as to any requirements under the Securities Act only, the accuracy of the Initial Purchasers’ representations, no consent, authorization or order of, or filing or registration with, any court or governmental agency is
required for the issuance and sale of the Offered Notes or the execution, delivery and performance by the Company of this Agreement or the other Transaction Documents to which it is a party, except such consents, approvals, authorizations,
registrations or qualifications as have been obtained or as may be required under state securities or blue sky laws in connection with the sale and delivery of the Offered Notes in the manner contemplated herein. 
  
 (n) The Business Loans, individually and in the aggregate, have the
characteristics described in each Memorandum. 
  

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 (o) Each of the representations and warranties of the Company and the Trust Depositor set forth in each
of the other Transaction Documents is true and correct in all material respects. 
  
 (p) Any taxes, fees and other governmental charges payable in connection with the execution, delivery and issuance of this Agreement and the other Transaction Documents and the Notes have been or will be paid by the
Company prior to the Closing Date. 
  
 (q) No adverse selection
procedures were used in selecting the Business Loans from among the loans that meet the representations and warranties of the Company contained in the Transfer Agreement and that are included in the Loan Pool. 
  
 (r) Neither the Company nor any affiliate thereof nor anyone acting on their
behalf has, directly or indirectly (except to or through the Initial Purchasers), sold or offered, or attempted to offer or sell, or solicited any offers to buy, or otherwise approached or negotiated in respect of, any of the Offered Notes and
neither the Company nor any of its affiliates will do any of the foregoing. As used herein, the terms “offer” and “sale” have the meanings specified in Section 2(3) of the Securities Act. 
  
 (s) Neither the Company nor any affiliate (as defined in Rule 501(b) of
Regulation D under the Securities Act (such regulation, “Regulation D”)) of the Company has directly, or through any agent (other than the Initial Purchasers, as to which the Company makes no representation or warranty), sold,
offered for sale, solicited offers to buy or otherwise negotiated in respect of, any security (as defined in the Securities Act) which is or may be integrated with the sale of the Offered Notes in a manner that would require the registration under
the Securities Act of the offerings contemplated by the Final Memorandum or engaged in any form of general solicitation or general advertising (within the meaning of Regulation D) in connection with the offerings of the Offered Notes. 
  
 (t) With respect to any Offered Notes subject to the provisions of Regulation
S, the Company has not offered or sold such Offered Notes during the Distribution Compliance Period to a person (other than any Initial Purchaser) who is within the United States or its possessions or to a United States person. For this purpose, the
terms “Distribution Compliance Period”, “United States or its possessions” and “United States person” are defined as such terms are defined for purposes of Treas. Reg. § 1.163-5(c)(2)(i)(D). 
  

	 	Section 5.	Sale of Offered Notes to the Initial Purchasers. 

  
 The sale of the Purchased Notes to the Initial Purchasers will be made without registration of the Purchased Notes under the Securities Act, in reliance
upon the exemption therefrom provided by Section 4(2) of the Securities Act. 
  
 (a) The Company and the Initial Purchasers agree that the Purchased Notes will be offered and sold only in transactions exempt from registration under the Securities Act. The Company and the Initial Purchasers will
each reasonably believe at the time of any sale of the Purchased Notes by the Company through the Initial Purchasers, as initial purchasers, (i) that either (A) each purchaser of the Purchased Notes is an institutional investor that is
(1) a QIB who is a Qualified Purchaser in transactions meeting the requirements of Rule 144A under the 

  

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Securities Act and provides the Initial Purchasers with a written certification in substantially the form attached as Exhibit D-2 to the Indenture, or
(2) an Institutional Accredited Investor who is a Qualified Purchaser who, in either case, purchases for its own account or for any discretionary account for which it is acquiring the Purchased Notes and provides the Initial Purchasers with a
written certification in substantially the form attached as Exhibit D-1 to the Indenture, or (B) each purchaser is acquiring the Purchased Notes in an offshore transaction meeting the requirements of Regulation S, and (ii) that the
offering of the Purchased Notes will be made in a manner it reasonably believes will enable the offer and sale of the Purchased Notes to be exempt from registration under state securities (or “blue sky”) laws; and each such party
understands that no action has been taken to permit a public offering in any jurisdiction where action would be required for such purpose. The Company and the Initial Purchasers each further agree not to (x) engage in any activity that would
constitute a public offering of the Purchased Notes within the meaning of Section 4(2) of the Securities Act or (y) offer or sell the Purchased Notes by any form of general solicitation or general advertising (as those terms are used in
Regulation D), including the methods described in Rule 502(c) of Regulation D, in connection with any offer or sale of the Purchased Notes. 
  
 (b) Each Initial Purchaser hereby represents and warrants to and agrees with the Company, that (i) such Initial Purchaser is a QIB, and
(ii) such Initial Purchaser will offer the Purchased Notes only (A) to persons who such Initial Purchaser reasonably believes are QIBs who are Qualified Purchasers in transactions meeting the requirements of Rule 144A, (B) to
institutional investors who such Initial Purchaser reasonably believes are Institutional Accredited Investors who are Qualified Purchasers or (C) other than in the case of the Class A-2A Notes prior to the Commitment Termination Date, in
offshore transactions in reliance on Regulation S. Each Initial Purchaser further agrees that it will (x) deliver to each Person who purchases Purchased Notes from such Initial Purchaser, at or prior to the confirmation of sale, a copy of the
Final Memorandum, as then amended or supplemented, which Final Memorandum will include a Notice to Investors in the form attached hereto as Exhibit A, and (y) prior to any sale of the Purchased Notes to an Institutional Accredited
Investor that such Initial Purchaser does not reasonably believe is a QIB, it will receive from such Institutional Accredited Investor a written certification in substantially the form attached as Exhibit D-1 to the Indenture. 
  
 (c) Each Initial Purchaser represents and warrants, solely as to itself, that
it is duly authorized and possesses the requisite corporate power to enter into this Agreement. 
  
 (d) Each Initial Purchaser represents and warrants, solely as to itself, that there is no action, suit or proceeding pending against or, to the knowledge
of such Initial Purchaser, threatened against or affecting, such Initial Purchaser before any court or arbitrator or any government body, agency, or official which could materially adversely affect the ability of such Initial Purchaser to perform
its obligations under this Agreement. 
  
 (e) Each Initial
Purchaser represents and agrees, solely as to itself, that all offers and sales of the Purchased Notes by it to non-United States persons, prior to the expiration of the Distribution Compliance Period, will be made only in accordance with the
provisions of Rule 903 of Regulation S (except to the extent of any beneficial owners thereof who acquired an interest therein pursuant to another exemption from registration under the Securities Act and who will take delivery of a beneficial
ownership interest in a Global Note, as contemplated in the 

  

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Indenture) and only upon the receipt of the certification of beneficial ownership of the securities by a non-United States person in the form provided in the
Indenture. For this purpose, the terms “Distribution Compliance Period” and “United States person” are defined as such terms are defined for purposes of Treas. Reg. § 1.163-5(c)(2)(i)(D). 
  
 (f) Each Initial Purchaser represents and warrants, solely as to itself, that
(i) it has only communicated or caused to be communicated and will only communicate or cause to be communicated an invitation or inducement to engage in investment activity (within the meaning of Section 21 of the Financial Services and
Markets Act 2000 (the “FSMA”)) received by it in connection with the issue or sale of any of the Notes in circumstances in which Section 21(1) of the FSMA does not apply to the Issuer; and (ii) it has complied and will
comply with all applicable provisions of the FSMA with respect to anything done by it in relation to the Notes in, from or otherwise involving the United Kingdom. 
  

	 	Section 6.	Certain Agreements of the Company. 

  
 The Company covenants and agrees with the Initial Purchasers as follows: 
  
 (a) If, at any time prior to the earlier of (i) completion of the distribution of the Purchased Notes by the Initial
Purchasers, or (ii) the 90th day following the Closing Date, any event involving the Company shall occur as a result of which the Final Memorandum (as then amended or supplemented) would include an untrue statement of a material fact or omit to
state any material fact necessary to make the statements therein, in light of the circumstances under which they were made, not misleading, the Company promptly will notify the Representative on behalf of the Initial Purchasers and prepare and
furnish to the Initial Purchasers an amendment or supplement to the Final Memorandum that will correct such statement or omission. The Company will not at any time amend or supplement the Final Memorandum (x) prior to having furnished the
Initial Purchasers with a copy of the proposed form of the amendment or supplement and giving the Initial Purchasers a reasonable opportunity to review the same or (y) in a manner to which the Representative on behalf of the Initial Purchasers
or its counsel shall reasonably object. 
  
 (b) During the period
referred to in Section 6(a), the Company will furnish to the Initial Purchasers, without charge, copies of the Final Memorandum (including all exhibits and documents incorporated by reference therein), the Transaction Documents, and all
amendments or supplements to such documents, in each case as soon as reasonably available and in such quantities as the Initial Purchasers may reasonably request. 
  
 (c) At all times during the course of the private placement contemplated hereby and prior to the Closing Date, (i) the
Company will make available to each offeree the Additional Offering Documents and information concerning any other relevant matters, as they or any of their affiliates possess or can acquire without unreasonable effort or expense, as determined in
good faith by them, (ii) the Company will provide each offeree the opportunity to ask questions of, and receive answers from, it concerning the terms and conditions of the offering and to obtain any additional information, to the extent they or
any of their affiliates possess such information or can acquire it without unreasonable effort or expense (as determined in good faith by them), necessary to verify the accuracy of the information furnished to the offeree, (iii) the Company

  

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will not publish or disseminate any material in connection with the offering of the Offered Notes except as contemplated herein or as consented to by the
Representative on behalf of the Initial Purchasers, (v) the Company will advise the Initial Purchasers promptly of the receipt by the Company of any communication from the SEC or any state securities authority concerning the offering or sale of
the Offered Notes, (vi) the Company will advise the Initial Purchasers promptly upon its receipt of notice of the commencement of any lawsuit or proceeding to which the Company is a party relating to the offering or sale of the Offered Notes,
and (vii) the Company will advise the Initial Purchasers upon its receipt of notice of the suspension of the qualification of the Offered Notes for offering or sale in any jurisdiction, or the initiation or threat of any procedure for any such
purpose. 
  
 (d) The Company will furnish, upon the written
request of any Noteholder or of any owner of a beneficial interest therein, such information as is specified in paragraph (d)(4) of Rule 144A under the Securities Act (i) to such Noteholder or beneficial owner, (ii) to a prospective
purchaser of such Note or interest therein who is a QIB and a Qualified Purchaser designated by such Noteholder or beneficial owner, or (iii) to the Indenture Trustee for delivery to such Noteholder, beneficial owner or prospective purchaser,
in order to permit compliance by such Noteholder or beneficial owner with Rule 144A in connection with the resale of such Note or beneficial interest therein by such holder or beneficial owner in reliance on Rule 144A unless, at the time of such
request, the Trust is subject to the reporting requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934 or is exempt from such reporting requirements pursuant to and in compliance with Rule 12g3-2(b) of the Securities Exchange
Act of 1934. 
  
 (e) Except as otherwise provided in the
Indenture, each Offered Note will contain a legend to the effect set forth in the form of Notice to Investors attached as Exhibit A hereto. 
  

	 	Section 7.	Conditions of the Initial Purchasers’ Obligations. 

  
 The obligations of the Initial Purchasers to purchase the Purchased Notes on the Closing Date will be subject to the accuracy of the representations and
warranties of the Company herein, to the performance by the Company of its obligations hereunder and to the following additional conditions precedent: 
  
 (a) The Notes shall have been duly authorized, executed, authenticated, delivered and issued, the Transaction Documents shall have been duly authorized,
executed and delivered by the respective parties thereto and shall be in full force and effect, and the Business Loans and related Loan Files transferred on the Closing Date shall have been delivered to the Indenture Trustee pursuant to the Transfer
and Servicing Agreement. 
  
 (b) The Initial Purchasers shall have
received a certificate, dated the Closing Date, of the President, Chief Executive Officer, Chief Financial Officer or any Executive or Senior Vice President of the Company to the effect that such officer has carefully examined this Agreement, the
Final Memorandum and the Transaction Documents and that, to the best of such officer’s knowledge (i) since the date information is given in the Final Memorandum, there has not been any material adverse change in the condition, financial or
otherwise, or in the earnings, results of operations, business affairs or business prospects of the Company, whether or not arising in the ordinary course of business, or the ability of the Company to perform its obligations hereunder or 

  

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under the Transaction Documents or in the characteristics of the Business Loans except as contemplated by the Final Memorandum or as described in such
certificates, (ii) the representations and warranties of the Company set forth herein are true and correct as of the Closing Date, (iii) the Company has complied with all agreements and satisfied all conditions on its part to be performed
or satisfied hereunder and under the Transaction Documents, at or prior to the Closing Date, (iv) the representations and warranties of the Company and the Trust Depositor in the Transaction Documents are true and correct, as of the Closing
Date, as though such representations and warranties had been made on and as of such date, and (v) nothing has come to the attention of such officer that would lead such officer to believe that the Final Memorandum, and any amendment thereof or
supplement thereto, as of its date and as of the Closing Date, or any Additional Offering Document contains an untrue statement of a material fact or omits to state any material fact necessary in order to make the statements therein, in light of the
circumstances under which they were made, not misleading. 
  
 (c)
The Class A-1 Notes shall have been rated no less than “Aaa” by Moody’s, “AAA” by S&P, and “AAA” by Fitch, the Class A-2A Notes shall have been rated no less than “Aaa” by Moody’s,
“AAA” by S&P, and “AAA” by Fitch, the Class A-2B Notes shall have been rated no less than “Aaa” by Moody’s, “AAA” by S&P, and “AAA” by Fitch, the Class B Notes shall have been rated
no less than “Aa2” by Moody’s, “AA” by S&P, and “AA” by Fitch and the Class C Notes shall have been rated no less than “A2” by Moody’s, “A” by S&P and “A” by Fitch, such
ratings shall not have been rescinded, and no public announcement shall have been made by the respective rating agencies that the rating of the Offered Notes have been placed under review. 
  
 (d) On the date of the Final Memorandum, Ernst & Young LLP shall
have furnished to the Initial Purchasers an “agreed upon procedures” letter, dated the Closing Date, in form and substance satisfactory to the Representative on behalf of the Initial Purchasers, with respect to certain financial and
statistical information contained in the Final Memorandum. 
  
 (e)
Initial Purchasers shall have received an opinion, dated the Closing Date, of James G. Ray, in-house counsel to the Indenture Trustee, in form and substance reasonably satisfactory to the Representative on behalf of the Initial Purchasers.

  
 (f) Initial Purchasers shall have received an opinion of
Arnold & Porter LLP, counsel to the Company, (i) with respect to certain corporate matters and (ii) with respect to there being no consents required to transfer the Loans, in each case in form and substance reasonably satisfactory
to the Representative on behalf of the Initial Purchasers. 
  
 (g)
The Initial Purchasers shall have received opinions of Winston & Strawn LLP, counsel to the Company, the Trust Depositor and the Trust, (i) with respect to certain corporate, federal tax, securities law and investment company matters,
in form and substance reasonably satisfactory to the Representative on behalf of the Initial Purchasers and (ii) with respect to certain “true sale,” “non-consolidation” issues and “perfection” issues, in each case
in form and substance reasonably satisfactory to the Representative on behalf of the Initial Purchasers. 
  
 (h) The Initial Purchasers shall have received opinions of Richards, Layton & Finger, counsel to the Owner Trustee and the Trust, with respect to
certain “trust issues” and with 

  

 11 

 
respect to certain “perfection issues,” in form and substance reasonably satisfactory to the Representative on behalf of the Initial Purchasers.

  
 (i) The Initial Purchasers shall have received from the
Indenture Trustee a certificate signed by one or more duly authorized officers of the Indenture Trustee, dated the Closing Date, in customary form. 
  
 (j) The Initial Purchasers shall have received from the Owner Trustee, a certificate signed by one or more duly authorized officers of the Owner Trustee,
dated the Closing Date, in customary form. 
  
 (k) The Company
shall have furnished to the Initial Purchasers and their counsel such further information, certificates and documents as the Initial Purchasers and their counsel may reasonably have requested, and all proceedings in connection with the transactions
contemplated by this Agreement and all documents incident hereto shall be in all material respects reasonably satisfactory in form and substance to the Representative on behalf of the Initial Purchasers and its counsel. 
  
 (l) All documents incident hereto and to the Transaction Documents shall be
reasonably satisfactory in form and substance to the Representative on behalf of the Initial Purchasers and its counsel, and the Initial Purchasers and their counsel shall have received such information, certificates and documents as they may
reasonably request. 
  
 If any of the conditions specified in this
Section 7 shall not have been fulfilled in all material respects when and as provided in this Agreement, or if any of the opinions and certificates mentioned above shall not be reasonably satisfactory in form and substance to the
Representative on behalf of the Initial Purchasers, this Agreement and all of the Initial Purchasers’ obligations hereunder may be canceled by the Representative on behalf of the Initial Purchasers at or prior to delivery of and payment for the
Purchased Notes. Notice of such cancellation shall be given to the Company in writing, or by telephone or facsimile confirmed in writing. 
  

	 	Section 8.	Indemnification and Contribution. 

  
 (a) The Company shall indemnify and hold harmless each Initial Purchaser and each person, if any, who controls any Initial Purchaser within the meaning of
either the Securities Act or the Exchange Act from and against any loss, claim, damage or liability, joint or several, and any action in respect thereof, to which any Initial Purchaser or such controlling person may become subject, under the
Securities Act or Exchange Act or otherwise, insofar as such loss, claim, damage, liability or action arises out of, or is based upon, any untrue statement or alleged untrue statement of a material fact contained in either Memorandum or any
Additional Offering Document or arises out of, or is based upon, the omission or alleged omission to state in either Memorandum or any Additional Offering Document a material fact required to be stated therein or necessary to make the statements
therein, in light of the circumstances under which they were made, not misleading, and shall reimburse each Initial Purchaser and such controlling person for any legal and other expenses reasonably incurred by such Initial Purchaser or such
controlling person in investigating or defending or preparing to defend against any such loss, claim, damage, 

  

 12 

 
liability or action; provided, however, that the Company shall not be liable in any such case to any Initial Purchaser to the
extent that any such loss, claim, damage, liability or action arises out of, or is based upon, any untrue statement or alleged untrue statement or omission or alleged omission made in either Memorandum or any Additional Offering Document in reliance
upon and in conformity with written information furnished to the Company by such Initial Purchaser or on behalf of such Initial Purchaser specifically for inclusion therein, provided, further, that, the foregoing
indemnity shall not inure to the benefit of any Initial Purchaser (or any person that controls any Initial Purchaser) from whom the person asserting any such loss, claim, damage or liability purchased the Purchased Notes which are the subject
thereof if the Company shall sustain the burden of proving that the such Initial Purchaser sold Purchased Notes to the Person alleging such loss, claim, damage or liability without sending or giving a copy of the Final Memorandum (including any
amendments or supplements), at or prior to the confirmation of the sale of the Purchased Notes, if the Company had previously furnished copies thereof to such Initial Purchaser, and the loss, claim, damage or liability of such person results from an
untrue statement or omission of a material fact contained in any Preliminary Memorandum which was corrected in the Final Memorandum. The foregoing indemnity is in addition to any liability that the Company may otherwise have to any Initial Purchaser
or any person or entity controlling any Initial Purchaser. The Company acknowledges that the only written information furnished to the Company by any Initial Purchaser or on behalf of any Initial Purchaser specifically for inclusion in each
Memorandum or any Additional Offering Document is, with respect to such Initial Purchaser as provided in clauses (x) and (y) below, the statements set forth in each Memorandum (x) under the captions: (i) “Plan
of Distribution” (but solely the third sentence of the first paragraph under such caption, and the third, fifth, sixth, eighth, thirteenth and eighteenth paragraphs under such caption) and “Market Stabilization,” with respect to each
Initial Purchaser; (ii) “Special Disclosure of Lending Relationship with Variable Funding Capital Corporation, Wachovia Capital Markets, LLC, Citigroup Global Markets Realty Corp. and Banc of America Securities LLC,” with respect to
Wachovia Capital Markets, LLC, Citigroup Global Markets Inc. and Banc of America Securities LLC, respectively, each solely as to the information related to it or any of its Affiliates set forth under such caption; (iii) “Special Disclosure
of Lending Relationship with Fairway Finance Company and Harris Nesbitt Corp.,” with respect to Harris Nesbitt Corp.; and (iv) “Special Disclosure of Lending Relationship with Wachovia Bank, National Association, Citicorp North
America, Inc., Bank of America, N.A., Branch Banking & Trust Company, Bank of Montreal and Bayerische Hypo-und Vereinsbank AG,” with respect to Wachovia Capital Markets, LLC, Citigroup Global Markets Inc., Banc of America Securities
LLC, BB&T Capital Markets, Harris Nesbitt Corp. and HVB Capital Markets., Inc., respectively, each solely as to the information related to it or any of its Affiliates set forth under such caption; and (y) relating to Wachovia Securities in
the second paragraph under the caption “Plan of Distribution” and in the second paragraph of the first page following the cover of each Memorandum, as to Wachovia Capital Markets, LLC. 
  
 (b) Each Initial Purchaser, severally and not jointly, shall indemnify and
hold harmless the Company, any person who controls the Company within the meaning of either the Securities Act or the Exchange Act and their respective officers, directors, employees and agent from and against any loss, claim, damage or liability,
joint or several, and any action in respect thereof, to which the Company or any such controlling person may become subject, under the Act or otherwise, insofar as such loss, claim, damage, liability or action arises out of, or is based upon, any
untrue statement or alleged untrue statement of a material fact contained in either 

  

 13 

 
Memorandum or any Additional Offering Document or arises out of, or is based upon, the omission or alleged omission to state therein a material fact required
to be stated therein or necessary to make the statements therein, in light of the circumstances in which they were made, not misleading, but in each case only to the extent that the untrue statement or alleged untrue statement or omission or alleged
omission was made in reliance upon and in conformity with written information furnished to the Company by such Initial Purchaser or on behalf of such Initial Purchaser specifically for inclusion therein, and shall reimburse the Company for any legal
and other expenses reasonably incurred by the Company, any such controlling person investigating or defending or preparing to defend against any such loss, claim, damage, liability or action. The foregoing indemnity agreement is in addition to any
liability that any Initial Purchaser may otherwise have to the Company or any of its controlling persons. 
  
 (c) Promptly after receipt by an indemnified party under this Section 8 of notice of any claim or the commencement of any action, the
indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party under this Section 8, notify the indemnifying party in writing of the claim or commencement of that action; provided, that,
the failure to notify the indemnifying party shall not relieve it from any liability that it may have to an indemnified party otherwise than under this Section 8, except to the extent that the indemnifying party has been materially
prejudiced thereby. If any such claim or action shall be brought against an indemnified party, and it shall notify the indemnifying party thereof, the indemnifying party shall be entitled to participate therein and, to the extent that it wishes,
jointly with any other similarly notified indemnifying party, to assume the defense thereof with counsel reasonably satisfactory to the indemnified party. After notice from the indemnifying party to the indemnified party of its election to assume
the defense of such claim or action, the indemnifying party shall not be liable to the indemnified party under this Section 8 for any legal or other expenses subsequently incurred by the indemnified party in connection with the defense
thereof; provided, that, the indemnified party shall have the right to employ counsel to represent such indemnified party and any controlling persons who may be subject to liability arising out of any claim or action in respect of
which indemnity may be sought by an indemnified party against the Company under this Section 8, if (i) in the reasonable judgment of the indemnified party, there may be legal defenses available to such indemnified party and those
controlling persons, different from or in addition to those available to the Company, or there is a conflict of interest between the indemnified party and those controlling persons, on one hand, and the Company, on the other hand, or (ii) the
Company shall fail to select counsel reasonably satisfactory to the indemnified party or parties, and in such event the fees and expenses of such separate counsel shall be paid by the Company. In no event shall the Company be liable for the fees and
expenses of more than one separate firm of attorneys for the indemnified party and its related controlling persons in connection with any other action or separate but similar or related actions in the same jurisdiction arising out of the same
general allegations or circumstances. 
  
 (d) If the
indemnification provided for in Section 8 shall for any reason be unavailable to an indemnified party under Section 8(a) or Section 8(b) hereof in respect of any loss, claim, damage or liability, or any action in respect
thereof, referred to therein, then each indemnifying party shall, in lieu of indemnifying such indemnified party, contribute to the amount paid or payable by such indemnified party as a result of such loss, claim, damage or liability, or action in
respect thereof, (i) in such proportion as shall be appropriate to reflect the relative benefits received by the Company on the one hand and the Initial Purchasers on the other 

  

 14 

 
from the offering of the Purchased Notes or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such
proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Company on the one hand and the Initial Purchasers on the other with respect to the statements or
omissions that resulted in such loss, claim, damage or liability, or action in respect thereof, as well as any other relevant equitable considerations. The relative benefits received by the Company on the one hand and the Initial Purchasers on the
other with respect to such offering shall be deemed to be in the same proportion as the total net proceeds from the offering of the Purchased Notes (before deducting expenses) received by the Company bear to the total fees and/or discounts actually
received by each Initial Purchaser with respect to such offering pursuant to Section 2 of this Agreement. The relative fault shall be determined by reference to whether the untrue or alleged untrue statement of a material fact or
omission or alleged omission to state a material fact relates to information supplied by the Company or the Initial Purchasers, the intent of the parties and their relative knowledge, access to information and opportunity to correct or prevent such
statement or omission. The Company and the Initial Purchasers agree that it would not be just and equitable if contributions pursuant to this Section 8(d) were to be determined by pro rata allocation (even if the Initial
Purchasers were treated as one entity for such purpose) or by any other method of allocation that does not take into account the equitable considerations referred to herein. The amount paid or payable by an indemnified party as a result of the loss,
claim, damage or liability, or action in respect thereof, referred to above in this Section 8(e) shall be deemed to include, for purposes of this Section 8(d), any legal or other expenses reasonably incurred by such
indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 8(d), in no event shall any Initial Purchaser be required to contribute any amount in excess of the
amount by which the aggregate fee and/or discount actually paid to such Initial Purchaser pursuant to Section 2 of this Agreement exceeds the amount of any damages that such Initial Purchaser has otherwise been required to pay by reason
of such untrue or alleged untrue statement or omission or alledged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was
not guilty of such fraudulent misrepresentation. 
  
 (e) The
indemnity agreements contained in this Section 8 shall survive the delivery of the Purchased Notes, and the provisions of this Section 8 shall remain in full force and effect, regardless of any termination or cancellation of
this Agreement or any investigation made by or on behalf of any indemnified party. 
  

	 	Section 9.	Termination. 

  
 This Agreement shall be subject to termination in the absolute discretion of the Representative on behalf of the Initial Purchasers, by notice given to
the Company prior to delivery of and payment for the Purchased Notes, if prior to such time (a) trading in securities generally in the New York Stock Exchange shall have been suspended or materially limited or any setting of minimum prices for
trading on such exchange has occurred, (b) there has been, since the respective dates as of which information is given in the Final Memorandum, any material adverse change in the condition, financial or otherwise, or in the properties
(including, without limitation, the Business Loans) or the earnings, business affairs or business prospects of the Company considered as one enterprise, whether or not arising in the ordinary course of 

  

 15 

 
business, (c) a general moratorium on commercial banking activities in New York shall have been declared by either federal or New York State
authorities, or (d) there shall have occurred any material outbreak or escalation of hostilities or other calamity or crises the effect of which on the financial markets of the United States is such as to make it, in the reasonable judgment of
the Representative on behalf of the Initial Purchasers, impracticable or inadvisable to market the Purchased Notes on the terms and in the manner contemplated by the Final Memorandum as amended or supplemented. 
  

	 	Section 10.	Severability Clause. 

  
 Any part, provision, representation, or warranty of this Agreement which is prohibited or is held to be void or unenforceable in any jurisdiction shall,
as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof. 
  

	 	Section 11.	Notices. 

  
 All demands, notices and communications hereunder shall be in writing and shall be deemed to have been duly given if personally delivered at or mailed by
overnight mail, certified mail or registered mail, postage prepaid and effective only upon receipt and if sent to the Initial Purchasers, will be delivered to the Representative, Wachovia Capital Markets, LLC, One Wachovia Center, 301 South College
Street, Charlotte, North Carolina 28288, Attention: General Counsel (with a copy to the Asset-Backed Finance Group) and to Citigroup Global Markets Inc., 390 Greenwich Street, New York, NY 10013, Attention: Asset Backed Finance; or if sent to the
Company, the Trust Depositor or the Trust will be delivered to American Capital Strategies, Ltd., 2 Bethesda Metro Center, 14th Floor, Bethesda, Maryland 20814, Attention: Thomas McHale. 
  

	 	Section 12.	Representations and Indemnities to Survive. 

  
 The respective agreements, representations, warranties, indemnities and other statements of the Company and its officers, and of the Initial Purchasers
set forth in or made pursuant to this Agreement will remain in full force and effect, regardless of any investigation made by or on behalf of the Initial Purchasers, the Company or any of the controlling persons referred to in Section 8
of this Agreement, and will survive delivery of and payment for the Purchased Notes. 
  

	 	Section 13.	Successors. 

  
 This Agreement will inure to the benefit of and be binding upon the parties hereto and their respective successors and the officers, directors and
controlling persons referred to in Section 8 of this Agreement and their respective successors and assigns, and, except as specifically set forth herein, no other person will have any right or obligation hereunder. 
  

	 	Section 14.	Applicable Law. 

  
 (a) THIS AGREEMENT, INCLUDING THE RIGHTS, DUTIES AND REMEDIES OF THE PARTIES HERETO, WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF NEW YORK (INCLUDING SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK, BUT OTHERWISE WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES). 
  

 16 

 (b) EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY REQUIREMENTS OF LAW, ANY RIGHT IT
MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT. EACH PARTY HERETO (I) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS
REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (II) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY,
AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 14(b). 
  
 (c) ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT MAY BE BROUGHT IN THE COURTS OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF NEW YORK, AND BY EXECUTION AND DELIVERY OF THIS AGREEMENT, EACH PARTY
HERETO CONSENTS, FOR ITSELF AND IN RESPECT OF ITS PROPERTY, TO THE NON-EXCLUSIVE JURISDICTION OF THOSE COURTS. EACH SUCH PARTY IRREVOCABLY WAIVES ANY OBJECTION, INCLUDING ANY OBJECTION TO THE LAYING OF VENUE OR BASED ON THE GROUNDS OF FORUM NON
CONVENIENS, WHICH IT MAY NOW OR HEREAFTER HAVE TO THE BRINGING OF ANY ACTION OR PROCEEDING IN SUCH JURISDICTION IN RESPECT OF THIS AGREEMENT OR ANY DOCUMENT RELATED HERETO. 
  

	 	Section 15.	Counterparts, Etc. 

  
 This Agreement supersedes all prior or contemporaneous agreements and understandings relating to the subject matter hereof. Neither this Agreement nor any
term hereof may be changed, waived, discharged or terminated except by a writing signed by the party against whom enforcement of such change, waiver, discharge or termination is sought. This Agreement may be signed in any number of counterparts each
of which shall be deemed an original, which taken together shall constitute one and the same instrument. 
  

	 	Section 16.	Limitation of Liability. 

  
 Notwithstanding any other provision herein or elsewhere, this Agreement has been executed and delivered on behalf of the Trust by Wachovia Bank of
Delaware, National Association, not in its individual capacity, but solely in its capacity as Owner Trustee of the Trust, in no event shall Wachovia Bank of Delaware, National Association, or the Owner Trustee have any liability in respect of the
representations, warranties, or obligations of the Trust hereunder or under any other document, as to all of which recourse shall be had solely to the assets of the Trust, and for all purposes of this Agreement and each other document, the Owner
Trustee and Wachovia Bank of Delaware, National Association, shall be entitled to the benefits of the Trust Agreement. 
  

 17 

	 	Section 17.	No Petition. 

  
 Each Initial Purchaser covenants and agrees that, prior to the date that is one year and one day after the payment in full of each Class of Notes rated by
any Rating Agency, it will not institute against the Trust or join any other Person in instituting against the Trust any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or other similar proceedings under the laws of
the United States or any state of the United States. This Section 17 will survive the termination of this Agreement. 
  
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 
  

 18 

 If the foregoing is in accordance with your understanding of our agreement, please sign and return to the
undersigned a counterpart hereof, whereupon this letter and your acceptance shall represent a binding agreement among the Company, the Trust Depositor, the Trust and the Initial Purchasers. 
  

			
	 Very truly yours,

	
	AMERICAN CAPITAL STRATEGIES, LTD.
		
	 By:
	 	/s/    SAMUEL A. FLAX        
	 Name:
	 	Samuel A. Flax
	 Title:
	 	Executive VP and General Counsel
	
	ACAS BUSINESS LOAN LLC, 2005-1
		
	 By:
	 	/s/    SAMUEL A. FLAX        
	 Name:
	 	Samuel A. Flax
	 Title:
	 	Vice President and Secretary
	
	ACAS BUSINESS LOAN TRUST 2005-1
		
	 By:
	 	 WACHOVIA BANK OF DELAWARE,
 NATIONAL ASSOCIATION, not in its
 individual capacity but solely as Owner

Trustee on behalf of the Trust

		
	 By:
	 	/s/    STEVEN A. FINKLEA        
	 Name:
	 	Steven A. Finklea
	 Title:
	 	Vice President

  

 ACAS Business Loan Trust 2005-1 
 Purchase Agreement 

			
	 The foregoing Agreement is hereby confirmed
 and accepted as of the date first above written.

	
	WACHOVIA CAPITAL MARKETS, LLC
		
	By:	 	/s/    MARY CATHERINE
DUBOSE        
	 Name:
	 	Mary Catherine DuBose
	 Title:
	 	Managing Director
	
	CITIGROUP GLOBAL MARKETS INC.
		
	By:	 	/s/    TED YARBROUGH        
	 Name:
	 	Ted Yarbrough
	 Title:
	 	Managing Director
	
	BANC OF AMERICA SECURITIES LLC
		
	By:	 	/s/    ALLEN D. SHIFFLET        
	 Name:
	 	Allen D. Shifflet
	 Title:
	 	Managing Director
	
	 BB&T CAPITAL MARKETS,
 a division of Scott & Stringfellow, Inc.

		
	By:	 	/s/    WILLIAM E. HARDT        
	 Name:
	 	William E. Hardt
	 Title:
	 	Senior Managing Director
	
	HARRIS NESBITT CORP.
		
	By:	 	/s/    KEVIN P. GIBBONS        
	 Name:
	 	Kevin P. Gibbons
	 Title:
	 	Managing Director
	
	HVB CAPITAL MARKETS, INC.
		
	By:	 	/s/    DAVID MORGAN        
	 Name:
	 	David Morgan
	 Title:
	 	President

  

 ACAS Business Loan Trust 2005-1 
 Purchase Agreement 

 Schedule I 
  
 Initial Purchaser Allocation of Purchased Notes 
  

													
	 Initial Purchaser

	  	Class A-1 Notes

	  	Class A-2B
Notes

	  	Class B Notes

	  	Class C Notes

	 Wachovia Capital
 Markets, LLC
	  	$	430,522,059	  	$	49,485,294	  	$	49,485,294	  	$	143,507,353
	 Citigroup Global Markets Inc.
	  	$	0	  	$	0	  	$	0	  	$	0
	 Banc of America Securities LLC
	  	$	0	  	$	0	  	$	0	  	$	0
	 BB&T Capital
 Markets
	  	$	0	  	$	0	  	$	0	  	$	0
	 Harris Nesbitt Corp.
	  	$	0	  	$	0	  	$	0	  	$	0
	 HVB Capital Markets, Inc.
	  	$	0	  	$	0	  	$	0	  	$	0

 EXHIBIT A 
  
 FORM OF NOTICE TO INVESTORS 
  
 Because of the following restrictions, investors are advised to consult legal counsel prior to making any offer, resale, pledge or other transfer of
the Offered Notes. 
  
 The Offered Notes are being offered and
sold to “Qualified Institutional Buyers” within the meaning of and in reliance on Rule 144A under the Securities Act who are Qualified Purchasers, to a limited number of institutional “Accredited Investors” within the meaning of
Rule 501(a)(1)–(3) or (7) under the Securities Act who are Qualified Purchasers for purposes of Section 3(c)(7) under the 1940 Act and, other than in the case of the Class A-2A Notes (prior to the Commitment Termination Date), in
offshore transactions pursuant to Regulation S under the Securities Act. 
  
 Each purchaser of the Offered Notes offered hereby will be deemed to have represented and/or acknowledged and agreed as follows (terms used in this paragraph that are defined in Rule 144A, Regulation S or Regulation D
under the Securities Act are used herein as defined therein): 
  
 (1) The purchaser (A) is a Qualified Institutional Buyer within the meaning of Rule 144A under the Securities Act who is a Qualified Purchaser or an institutional Accredited Investor who is a Qualified Purchaser for purposes of
Section 3(c)(7) under the 1940 Act, (B) is acquiring the Offered Notes for its own account or for the account of such a Qualified Institutional Buyer who is a Qualified Purchaser or an institutional Accredited Investor who is a Qualified
Purchaser purchasing for investment and not for distribution in violation of the Securities Act, (C) if such Person is such a Qualified Institutional Buyer who is a Qualified Purchaser, is aware that the sale of the Offered Notes to it is being
made in reliance on Rule 144A, (D) if such Person is an institutional Accredited Investor who is a Qualified Purchaser, will deliver a certificate in the form attached to the Indenture prior to receipt of Offered Notes or (E) other than in
the case of the Class A-2A Notes (prior to the Commitment Termination Date), is acquiring the Offered Notes in an offshore transaction in accordance with Rule 903 or Rule 904 of Regulation S. 
  
 (2) The Offered Notes have not been and will not be registered under the
Securities Act, or any state securities or “Blue Sky” law, and may not be reoffered, resold, pledged or otherwise transferred except (A)(i) to a Person whom the seller reasonably believes is a “Qualified Institutional Buyer” as
defined in Rule 144A of the Securities Act who is a Qualified Purchaser that purchases for its own account or the account of another Qualified Institutional Buyer who is a Qualified Purchaser to whom notice is given that the resale, pledge or
transfer is being made in reliance on Rule 144A, (ii) in certificated form to an institutional Accredited Investor who is a Qualified Purchaser pursuant to any other exemption from the registration requirements of the Securities Act, subject to
(a) the receipt by the Indenture Trustee of a letter in the form attached to the Indenture and (b) the receipt by the Indenture Trustee of such other evidence acceptable to the Indenture Trustee that such reoffer, resale, pledge or
transfer is in compliance with the Securities Act and other Requirements of Laws, (iii) other than in the case 

 
of the Class A-2A Notes (prior to the Commitment Termination Date), in an offshore transaction in accordance with Rule 903 or Rule 904 of Regulation S,
(iv) pursuant to another exemption available under the Securities Act or (v) pursuant to a valid registration statement and (B) in accordance with all applicable securities and “Blue Sky” laws of any State of the United
States or any other applicable jurisdictions. 
  
 (3) The Offered
Notes will bear a legend to the following effect, unless the Originator and the Indenture Trustee determine otherwise in accordance with Requirements of Law: 
  

THIS NOTE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR UNDER ANY STATE
SECURITIES OR BLUE SKY LAW OF ANY STATE. PROSPECTIVE INVESTORS ARE HEREBY NOTIFIED THAT THE SELLERS OF THE OFFERED NOTES MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE SECURITIES ACT PROVIDED BY RULE 144A THEREUNDER. THE
HOLDER HEREOF, BY PURCHASING THIS NOTE, AGREES THAT THIS NOTE MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER REQUIREMENTS OF LAWS AND ONLY (1) PURSUANT TO RULE 144A UNDER THE
SECURITIES ACT (“RULE 144A”) TO A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A (A “QIB”) WHO IS A QUALIFIED PURCHASER, PURCHASING FOR ITS OWN ACCOUNT OR A QIB
PURCHASING FOR THE ACCOUNT OF A QIB WHO IS A QUALIFIED PURCHASER, WHOM THE HOLDER HAS INFORMED THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (2) IN CERTIFICATED FORM TO AN INSTITUTIONAL
“ACCREDITED INVESTOR” (WITHIN THE MEANING OF RULE 501 (a)(1)–(3) OR (7) UNDER THE SECURITIES ACT) WHO IS A QUALIFIED PURCHASER FOR PURPOSES OF SECTION 3(C)(7) UNDER THE 1940 ACT PURCHASING FOR INVESTMENT AND NOT FOR DISTRIBUTION
IN VIOLATION OF THE SECURITIES ACT, IN EACH CASE, SUBJECT TO (A) THE RECEIPT BY THE INDENTURE TRUSTEE OF A LETTER SUBSTANTIALLY IN THE FORM PROVIDED IN THE INDENTURE AND (B) THE RECEIPT BY THE INDENTURE TRUSTEE OF SUCH OTHER EVIDENCE
ACCEPTABLE TO THE INDENTURE TRUSTEE THAT SUCH REOFFER, RESALE, PLEDGE OR TRANSFER IS IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER REQUIREMENTS OF LAWS OR IN EACH CASE IN ACCORDANCE WITH ALL APPLICABLE SECURITIES LAWS OF THE UNITED STATES AND
SECURITIES AND BLUE SKY LAWS OF ANY STATE OF THE UNITED STATES AND ANY OTHER APPLICABLE JURISDICTION, (3) OTHER THAN IN THE CASE OF THE CLASS A-2A NOTES (PRIOR TO THE COMMITMENT TERMINATION DATE), IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH
RULE 903 OR RULE 904 OF REGULATION S, (4) PURSUANT TO ANOTHER EXEMPTION AVAILABLE UNDER THE SECURITIES ACT AND IN ACCORDANCE WITH ANY APPLICABLE STATE SECURITIES LAWS, OR (5) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT. THE PURCHASE OF
AN OFFERED 

 
NOTE WILL BE DEEMED A REPRESENTATION BY THE ACQUIRER THAT EITHER: (I) IT IS NOT, AND IS NOT DIRECTLY OR INDIRECTLY ACQUIRING THE NOTES FOR, ON BEHALF OF
OR WITH ANY ASSETS OF, AN EMPLOYEE BENEFIT PLAN OR OTHER ARRANGEMENT SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), A PLAN DESCRIBED IN AND SUBJECT TO SECTION 4975 OF THE INTERNAL REVENUE
CODE OF 1986, AS AMENDED (THE “CODE”), OR A PLAN OR OTHER ARRANGEMENT SUBJECT TO ANY PROVISIONS UNDER ANY FEDERAL, STATE, LOCAL, NON-U.S. OR OTHER LAWS OR REGULATIONS THAT ARE SUBSTANTIVELY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR
THE CODE (“SIMILAR LAW”) OR (II) WITH RESPECT TO THE CLASS A-1 NOTES, THE CLASS A-2B NOTES, THE CLASS B NOTES, THE CLASS C NOTES AFTER THE COMMITMENT TERMINATION DATE THE CLASS A-2A NOTES, THAT ITS ACQUISITION AND HOLDING OF SUCH NOTE OR
ANY INTEREST THEREIN WILL NOT CONSTITUTE OR RESULT IN A NON-EXEMPT PROHIBITED TRANSACTION UNDER ERISA OR THE CODE, OR A VIOLATION OF SIMILAR LAW. 
  
 (4) The Offered Notes will initially be represented by beneficial interests in a single Global Note or certificated Individual Notes as the case may be.
Before any interest in a Global Note may be offered, sold, pledged or otherwise transferred to a Person who takes delivery other than through a beneficial interest in that Global Note, the transferor will be required to provide the Indenture Trustee
with a written certification, in the form provided in the Indenture, as to compliance with the applicable transfer restrictions. 
  
 (5) If it is acquiring any Offered Notes as a fiduciary or agent for one or more investor accounts, it has sole investment discretion with respect to each
such account and that it has full power to make the acknowledgments, representations and agreements contained herein on behalf of such account.EXHIBIT 10.30

 Exhibit 10.30 
  

  
 CLASS A-2A NOTE PURCHASE AGREEMENT 
  

  
  
 October 4, 2005 
  
 ACAS BUSINESS LOAN TRUST 2005-1, 
  
 as Issuer 
  
 WELLS FARGO BANK, NATIONAL ASSOCIATION, 
  
 as Indenture Trustee 
  
 EACH OF THE HOLDERS PARTY HERETO, 
  
 and 
  
 WACHOVIA BANK, NATIONAL ASSOCIATION 
  
 as Alternative Credit Provider 
  

  
 With respect to 
  
 U.S.$150,000,000 of Class A-2A Delayed Draw Floating Rate Asset Backed Notes due 2019 
  

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page

	ARTICLE I DEFINITIONS	  	2
			
	 Section 1.01.
	  	Defined Terms	  	2
	 Section 1.02.
	  	Terms Generally	  	3
		
	ARTICLE II SALE TO INITIAL HOLDER, THE COMMITMENTS	  	3
			
	 Section 2.01.
	  	Sale to Initial Holder	  	3
	 Section 2.02.
	  	Commitments	  	4
	 Section 2.03.
	  	Draws	  	4
	 Section 2.04.
	  	Funding of Draws	  	5
	 Section 2.05.
	  	Termination of Commitments	  	5
	 Section 2.06.
	  	Rating Criteria	  	5
	 Section 2.07.
	  	Determination of LIBOR	  	6
	 Section 2.08.
	  	Class A-2A Commitment Fee	  	6
	 Section 2.09.
	  	Replacement of Holders due to Credit Ratings	  	6
		
	ARTICLE III REPRESENTATIONS AND WARRANTIES	  	7
			
	 Section 3.01.
	  	Representations and Warranties	  	7
	 Section 3.02.
	  	Several Representations of Each Holder	  	8
		
	ARTICLE IV CONDITIONS	  	9
			
	 Section 4.01.
	  	Closing Date	  	9
	 Section 4.02.
	  	Each Draw	  	10
	 Section 4.03.
	  	Obligations Unconditional	  	10
		
	ARTICLE V THE INDENTURE TRUSTEE	  	10
			
	 Section 5.01.
	  	Appointment as Agent	  	10
	 Section 5.02.
	  	Certain Duties and Responsibilities	  	10
	 Section 5.03.
	  	Resignation and Removal; Notice of Successor	  	11
		
	ARTICLE VI ALTERNATIVE CREDIT PROVIDER	  	12
			
	 Section 6.01.
	  	Commitment to Fund	  	12
	 Section 6.02.
	  	Reimbursement Obligation	  	12
	 Section 6.03.
	  	Grant of Security Interest	  	13
		
	ARTICLE VII MISCELLANEOUS	  	13
			
	 Section 7.01.
	  	Notices	  	13
	 Section 7.02.
	  	Waivers; Amendments	  	14

  

 i 

					
	 Section 7.03.
	  	Successors and Assigns	  	14
	 Section 7.04.
	  	Survival	  	15
	 Section 7.05.
	  	Counterparts; Integration; Effectiveness	  	16
	 Section 7.06.
	  	Severability	  	16
	 Section 7.07.
	  	Governing Law; Jurisdiction; Consent to Service of Process; WAIVER OF JURY TRIAL RIGHT	  	16
	 Section 7.08.
	  	Benefits of Indenture	  	17
	 Section 7.09.
	  	Headings	  	17
	 Section 7.10.
	  	Recourse Against Certain Parties	  	17
	 Section 7.11.
	  	Limited-Recourse Obligations	  	18
	 Section 7.12.
	  	Non-Petition	  	18
	 Section 7.13.
	  	Exchange of Notes	  	18
	 Section 7.14.
	  	Limitation of Liability	  	19

  

 ii 

 CLASS A-2A NOTE PURCHASE AGREEMENT (as amended, restated, supplemented or modified from time to
time, this “Agreement”), dated as of October 4, 2005, among: 
  
 ACAS BUSINESS LOAN TRUST 2005-1, a Delaware statutory trust (together with its successors and assigns in such capacity, the “Issuer”); 
  
 WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association, as agent hereunder (together with its successors and
assigns in such capacity, the “Indenture Trustee”); 
  
 each of the HOLDERS (as such term in defined below) party hereto; and 
  
 WACHOVIA BANK, NATIONAL ASSOCIATION, a national banking association, as alternative credit provider (and not as a Liquidity Provider) to the Initial Holder in accordance with the terms hereof (together with its
successors and assigns in such capacity, the “Alternative Credit Provider”). 
  
 R E C I T A L S 
  
 WHEREAS, the Issuer and the Indenture Trustee are party to an Indenture, dated as of October 4, 2005 (as modified and supplemented and in
effect from time to time the “Indenture”), pursuant to which the Issuer has authorized and issued $150,000,000 in original principal amount of Class A-2A Delayed Draw Floating Rate Asset Backed Notes due 2019 (the
“Class A-2A Notes”) and additional Notes having the terms set forth therein; 
  
 WHEREAS, the Issuer, the Indenture Trustee and the Holders from time to time of the Class A-2A Notes issued under the Indenture wish to evidence certain agreements relating to, among other things, the
right of the Issuer to borrow amounts under the Class A-2A Notes during the Draw Period, and the appointment of the Indenture Trustee to perform certain duties hereunder, all as provided in this Agreement and in the Indenture; 
  
 WHEREAS, the Alternative Credit Provider has agreed to provide
Alternative Credit on behalf of the Initial Holder of the Class A-2A Notes in circumstances described herein; and 
  
 WHEREAS, the Issuer has, under and in accordance with the terms of the Indenture, Granted to the Indenture Trustee, for the benefit and security of
the Noteholders, all of the Issuer’s right, title and interest in, to and under this Agreement. 
  
 Accordingly, in consideration of the covenants contained in this Agreement, the parties hereto agree as follows: 
  

 1 

 ARTICLE I 
  
 DEFINITIONS 
  
 Section 1.01. Defined Terms. Capitalized terms used and not otherwise defined herein shall have the meanings set forth in the Transfer and
Servicing Agreement, dated as of October 4, 2005, among the Issuer, ACAS Business Loan LLC 2005-1, as the Trust Depositor, American Capital Strategies, Ltd., as the Originator and the Servicer, and Wells Fargo Bank, National Association, as the
Indenture Trustee and as the Backup Servicer (as modified and supplemented and in effect from time to time, the “Transfer and Servicing Agreement”) or the Indenture, as applicable. In addition, as used in this Agreement, the
following terms shall have the meanings specified below: 
  
 “Alternative Credit”: has the meaning specified in Section 6.01. 
  
 “Alternative Credit Collection Date”: has the meaning specified in Section 6.03. 
  
 “Assignment and Acceptance”: means an assignment and
acceptance entered into by a Holder and an assignee of such Holder, and accepted by the Issuer, in the form of Exhibit A or any other form approved by the Issuer and the Indenture Trustee. 
  
 “Business Day”: means any day other than (x) Saturday
or Sunday, or (y) a day on which commercial banks in New York, New York, Minneapolis, Minnesota or Dublin, Ireland are authorized or required by applicable law, regulation or executive order to close. 
  
 “Closing Date”: means October 4, 2005. 
  
 “Commitment”: means the obligation of a Holder at any time
to fund Draws in an aggregate principal amount up to but not exceeding the initial amount of the Commitment of each Holder as set forth on Schedule I (in the case of an Initial Holder) or in the Assignment and Acceptance pursuant to which
such Holder shall have assumed its Commitment, as applicable, as such obligation may be reduced or increased from time to time pursuant to assignments by or to such Holder pursuant to Section 7.03. 
  
 “Commitment Termination Date”: means the date that the
commitment of the Holders to fund Draws terminates as set forth in Section 2.05(a). 
  
 “Draw Date”: shall mean any one of the three dates specified in Section 2.03(d). 
  
 “Draw Period”: the period beginning on the Closing Date and
ending on the Commitment Termination Date. 
  
 “Draws”: means the advances made by the Holders to the Issuer on each Draw Date in respect of the Class A-2A Notes pursuant to this Agreement. 
  
 “Holders”: means the Initial Holder and any other Person that shall have become a Holder of a
Class A-2A Note pursuant to a transfer of Class A-2A Notes in accordance with 

  

 2 

 
Section 7.03 (other than any such Person that ceases to be a party hereto pursuant to a transfer of all of its Class A-2A Notes to another
Person pursuant to Section 7.03). 
  
 “Initial
Holder”: means Centauri Corporation, a Cayman Island corporation. 
  
 “Local Time”: means local time in New York, New York. 
  
 “Obligations”: has the meaning specified in Section 6.02(a). 
  
 “Offering Memorandum”: has the meaning specified in Section 3.02(g). 
  
 “Pro Rata Share”: means, with respect to any Holder at any
time, the ratio (expressed as percentage) of (a) the Aggregate Outstanding Amount of all Class A-2A Notes held by such Holder at such time to (b) the Aggregate Outstanding Amount of all Class A-2A Notes held by all Holders at such
time. 
  
 “Transaction Documents”: has the
meaning specified in Section 3.01(b). 
  
 Section
1.02. Terms Generally. The definitions of terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter
forms. The words “include”, “includes” and “including” shall be deemed to be followed by the phrase “without limitation”. The word “will” shall be construed to have the same meaning and effect as the
word “shall”. Unless the context requires otherwise, (a) any definition of or reference to any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument or other document as from time
to time amended, supplemented or otherwise modified (subject to any restrictions on such amendments, supplements or modifications set forth herein), (b) any reference herein to any Person shall be construed to include such Person’s
successors and assigns, (c) the words “herein”, “hereof”, “hereunder”, and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof and
(d) all references herein to Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Exhibits and Schedules to, this Agreement. 
  
 ARTICLE II 
  
 SALE TO INITIAL HOLDER, THE COMMITMENTS 
  
 Section 2.01. Sale to Initial Holder. 
  
 On the basis of the representations, warranties and agreements contained herein, and subject to the terms and conditions set forth herein, the Initial
Holder agrees to acquire from the Issuer, on the Closing Date, $70,000,000 in aggregate principal amount of Class A-2A Notes. Upon delivery by the Issuer to the Initial Holder of the Class A-2A Notes duly executed by the Issuer and
authenticated by the Trustee in its capacity as Note Registrar, the Initial Holder will be deemed to have acquired such Notes. 
  

 3 

 Section 2.02. Commitments. 
  
 Subject to the terms and conditions set forth herein and in the Indenture, the Issuer (or the Servicer on behalf of the
Issuer) will request that Draws be made on the Class A-2A Notes and each Holder agrees to fund such Draws to the Issuer during the Draw Period on each Draw Date, in amounts not to exceed, in an aggregate principal amount, the amount of such
Holder’s Commitment. 
  
 Section 2.03. Draws.

  
 (a) Each Draw shall be funded by the Holders ratably in
accordance with their respective Pro Rata Shares. The failure of any Holder to fund any Draw required to be made by it shall not relieve any other Holder of its obligations hereunder; provided, that the Commitments constitute several and
separate, not joint, obligations and no Holder shall be responsible for any other Holder’s failure to fund Draws as so required. There shall be no notice or request requirement for the Draws. 
  
 (b) Each Holder at its option may fund any Draw by causing any domestic or
foreign branch or Affiliate of such Holder to fund such Draw; provided, that any exercise of such option shall not affect the obligation of such Holder to fund such Draw or the obligation of the Issuer to repay such Draw in accordance with
the terms of this Agreement; and provided, further, that if such option is exercised, the branch or Affiliate that funds such Draw shall not obligate the Issuer to pay or withhold any amounts in respect of taxes in any jurisdiction.

  
 (c) Each Draw shall be funded by the Holders (or, if
applicable, funded for such Holder’s relevant Holder Subaccount) on the applicable Draw Date, unless otherwise agreed to by the Issuer and all of the Holders of the Class A-2A Notes. 
  
 (d) There shall be three Draws, the Draw Dates for which will be the Closing
Date, December 15, 2005 and January 17, 2006. The Class A-2A Notes sold to the Initial Holder on the Closing Date will be funded in the aggregate in installments of $10,278,478 on the first Draw Date, $28,000,000 on the second Draw
Date and $31,721,522 on the third Draw Date. The following conditions must be met prior to any Draw: 
  
 (i) at the time of and immediately after giving effect to such Draw, no Event of Default or Servicer Default or event the occurrence of
which with notice or the lapse of time or both would become an Event of Default or a Servicer Default has occurred and is continuing or would result from such Draw; and 
  
 (ii) at the time of and immediately after giving effect to such Draw, the aggregate Outstanding Principal
Balance of the Class A-2A Notes will not exceed the Maximum Class A-2A Commitment. 
  
 (e) All Draws funded by a Holder shall be evidenced by the Class A-2A Note(s) and shall be governed by and subject to the Indenture. Draws may not be repaid except in connection with the repayment of principal on
the Class A-2A Note(s) pursuant to the Indenture and the Transfer and Servicing Agreement and subject to the Priority of Payments. The Issuer hereby appoints the Indenture Trustee as its agent for purposes of keeping a register (the
“Delayed Draw Note Register”) at the office of the Indenture Trustee in which the Indenture Trustee shall maintain records of each Holder’s Commitment applicable to each Class A-2A 

  

 4 

 
Note, the aggregate principal amount of Draws from time to time outstanding in respect of each Class A-2A Note and a copy of each Assignment and
Acceptance delivered to the Indenture Trustee pursuant to Section 7.03(b). At any time promptly following a request therefor by the Issuer, the Indenture Trustee shall provide the Issuer with a report specifying the aggregate principal
amount of Draws outstanding in respect of each Class A-2A Note, the Commitment of each Holder applicable thereto (as of such Record Date or such time, as the case may be) and applicable payment instructions. 
  
 Section 2.04. Funding of Draws. 
  
 Subject to meeting the conditions set forth in Sections 4.02 and
4.03, each Holder shall fund its portion of each requested Draw in U.S. Dollars on the Draw Date thereof by wire transfer of immediately available funds by 12:00 p.m., Local Time, to the account of the Indenture Trustee most recently
designated by it for such purpose by notice to the Holders. 
  
 Section 2.05. Termination of Commitments. 
  
 (a) The Commitment of each Holder shall terminate entirely on the earliest to occur of: 
  
 (i) January 17, 2006; and 
  
 (ii) an Event of Default specified in Section 5.1(j) or 5.1(k) of the Indenture. 
  
 Section 2.06. Rating Criteria. 
  
 (a) The Initial Holder severally represents and warrants to the Issuer and
the Indenture Trustee that, on the Closing Date, the Rating Criteria are satisfied with respect to it. 
  
 (b) With respect to each Holder that becomes a party to this Agreement during the Draw Period pursuant to Section 7.03, such Holder represents
and warrants to the Issuer and the Indenture Trustee that, on the date on which such Holder becomes a party to this Agreement, the Rating Criteria are satisfied with respect to such Holder. 
  
 (c) At all times during the Draw Period, each Holder must continue to satisfy
the Rating Criteria. If any Holder at any time during the Draw Period fails to satisfy the Rating Criteria, such Holder (or, in the case of the Initial Holder, the Alternative Credit Provider on behalf of such Holder) shall within five Business Days
thereafter deposit cash in a Holder Subaccount in an amount equal to the undrawn amount of such Holder’s Commitment. If such Holder (or, in the case of the Initial Holder, the Alternative Credit Provider) fails to fund a Holder Subaccount as
described in the preceding sentence, the Issuer will have the right under Section 2.09 to replace such Holder. The Indenture Trustee shall not have any obligation to pursue any collection action or remedy against any Holder (or, in the
case of the Initial Holder, the Alternative Credit Provider) of a Class A-2A Note. 
  
 (d) Any amounts on deposit in any Holder Subaccount may be invested in Eligible Investments that are available on the day following the date of acquisition thereof (collectively, the “Class A-2A Permitted
Investments”) at the direction of the related Holder (or, 

  

 5 

 
in the case of the Initial Holder, following the provision of Alternative Credit, at the direction of the Alternative Credit Provider). Investment earnings
received during each Collection Period in respect of Class A-2A Permitted Investments in a Holder’s Holder Subaccount will be paid directly to such Holder (or, in the case of the Initial Holder, following the provision of Alternative
Credit, the Issuer shall direct the Indenture Trustee in writing to pay such investment earnings directly to the Alternative Credit Provider) on the Payment Date following the last day of the Draw Period, as instructed by the Servicer. 

 
 Section 2.07. Determination of LIBOR. 
  
 LIBOR shall be determined by the Calculation Agent on each LIBOR
Determination Date pursuant to the Transfer and Servicing Agreement. 
  
 Section 2.08. Class A-2A Commitment Fee. 
  
 (a) The Class A-2A Commitment Fee shall accrue on the aggregate undrawn amount of the Class A-2A Notes, for each day from and including the Closing Date to but excluding the Commitment Termination Date, at a rate per annum
equal to 0.125% and shall be payable by the Indenture Trustee on each Draw Date as set forth in the Transfer and Servicing Agreement. The payment of the Class A-2A Commitment Fee shall not be subject to the Priority of Payments. 
  
 (b) On any Draw Date following the Alternative Credit Provider’s
provision of Alternative Credit, the Issuer shall direct the Servicer in writing to pay to the Alternative Credit Provider any Class A-2A Commitment Fee due on the Class A-2A Notes held by the Initial Holder; provided, that if the
Alternative Credit Provider has been reimbursed the full amount of the Alternative Credit prior to such Draw Date, the Alternative Credit Provider shall only be entitled to a portion of such Class A-2A Commitment Fee pro rata based on
the number of days elapsed from (and including) the date on which the Alternative Credit Provider provided the Alternative Credit to (but excluding) the date on which the Alternative Credit Provider was reimbursed in full the Alternative Credit
previously provided hereunder 
  
 Section 2.09.
Replacement of Holders due to Credit Ratings. 
  
 In the
event that any Holder (or, in the case of the Initial Holder, the Alternative Credit Provider) fails to fund a Holder Subaccount as may be required under Section 2.06(c), the Issuer (or the Servicer, acting on behalf of the Issuer) shall
use reasonable efforts to replace such Holder with another entity that meets the Rating Criteria. The Issuer (of the Servicer, acting on behalf of the Issuer) shall have the right to require the non-performing Holder to transfer all of its rights
and obligations in respect of all of its Class A-2A Notes to the transferee entity. The Holder being replaced will bear all administrative and similar costs of effecting such a transfer, but will not be required to pay a premium or accept a
discount (other than a premium or discount arising as a result of changes in the market price of the Class A-2A Notes as determined by the Placement Agent (i) by obtaining indicative bids from two unaffiliated market participants or
(ii) if the Placement Agent, using commercially reasonable efforts, is unable to obtain two such bids, in the Placement Agent’s commercially reasonable discretion) in connection with another party acquiring such Holder’s
Class A-2A Notes. 
  

 6 

 ARTICLE III 
  
 REPRESENTATIONS AND WARRANTIES 
  
 Section 3.01. Representations and Warranties. 
  
 The Issuer hereby represents and warrants to the Holders and the Indenture Trustee as of the date hereof and as of the Closing Date that: 
  
 (a) It is a trust duly organized and validly existing and in good standing
under the law of the State of Delaware. 
  
 (b) It has the power
to execute and deliver this Agreement and the Indenture and to perform its obligations under this Agreement, and each of the other Transaction Documents to which it is a party and has taken all necessary action to authorize such execution, delivery
and performance. 
  
 (c) Assuming that all of the representations
and warranties (in so far as they relate to securities law matters) of the Holders in this Agreement are true and correct and assuming compliance by each such Holder with applicable transfer restriction provisions herein and in the Indenture, 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. 
  
 (d) Assuming that all of the representations and warranties (in so far as they relate to securities law matters) of the Holders in this Agreement are true and correct and assuming compliance by each such Holder with
applicable transfer restriction provisions herein and in the Indenture, all governmental and other consents that are required to have been obtained by it with respect to the execution, delivery and performance of this Agreement and the Indenture
have been obtained and are in full force and effect and all conditions of any such consents have been complied with. 
  
 (e) Its obligations under each Transaction Document to which it is a party constitute its legal, valid and binding obligations, enforceable against it in
accordance with their respective terms (subject to applicable bankruptcy, reorganization, insolvency, moratorium or other 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)). 
  
 (f) 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, government body, agency or official or any arbitrator that is likely to affect the legality, validity or enforceability against it of this Agreement or the Indenture or its ability to perform its obligations under this
Agreement or the Indenture. 
  
 (g) Assuming that all of the
representations and warranties (in so far as they relate to securities law matters) of the Holders in this Agreement are true and correct and 

  

 7 

 
assuming compliance by each such Holder with applicable transfer restriction provisions herein and in the Transfer and Servicing Agreement, it is not
required to register as an investment company under the Investment Company Act of 1940, as amended. 
  
 (h) It has timely filed or caused to be filed all tax returns and reports required to have been filed and has paid or caused to be paid all taxes required
to have been paid by it. 
  
 Section 3.02. Several
Representations of Each Holder. 
  
 Each Holder severally
represents and warrants (as to itself and as to no other Holder) to the Issuer and the Indenture Trustee, as of the date hereof, as of the Closing Date and as of the date of each Draw, that: 
  
 (a) It has the power to execute and deliver this Agreement and to perform its
obligations under this Agreement and has taken all necessary action to authorize such execution, delivery and performance. 
  
 (b) Its obligations under this Agreement constitute its legal, valid and binding obligations, enforceable against it in accordance with their respective
terms (subject to applicable bankruptcy, reorganization, 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)). 
  
 (c) Its execution and delivery of this agreement and its performance of its obligations hereunder 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, except in each case for any violation or conflict as would not have a material and adverse effect on its
performance of its obligations hereunder. 
  
 (d) It is not
required to register as an investment company under the Investment Company Act of 1940, as amended. 
  
 (e) In connection with its purchase of the Class A-2A Notes: (i) none of the Issuer, the Initial Purchaser, the Servicer, the Swap
Counterparties or the Indenture Trustee or any of their respective affiliates is acting as a fiduciary or financial or investment adviser for it; (ii) it is not relying on any written or oral advice, counsel or representations of the Issuer,
the Initial Purchaser, the Servicer or any of their respective affiliates (other than in the Offering Memorandum and the representations and warranties contained herein or in the other Transaction Documents); (iii) it has read and understands
the Offering Memorandum (including, without limitation, the descriptions therein of the structure of the transaction in which the Class A-2A Notes are being issued and the risks to purchasers of the Class A-2A Notes); (iv) it has
consulted with its own legal, regulatory, tax, business, investment, financial, and accounting advisers to the extent it has deemed necessary, and has made its own investment decisions based upon its own judgment and upon any advice from such
advisers as it has deemed necessary and not upon any view expressed by the Issuer, the Initial Purchaser, the Servicer, the Swap Counterparty or the Indenture Trustee or any of their respective affiliates; and (v) it is a sophisticated investor
and is 

  

 8 

 
purchasing the Class A-2A Notes with a full understanding of all of the terms, conditions and risks thereof, and it is capable of assuming and willing
to assume those risks. 
  
 (f) The representations set forth on
Exhibit B hereto are true and correct with respect to it. 
  
 (g) It is hereby advised and acknowledges that the Preliminary Offering Memorandum, dated September 14, 2005 (the “Preliminary Offering Memorandum”), and the Offering Memorandum, dated September 29, 2005 (the
“Offering Memorandum”), relating to the Class A-2A Notes are each personal to it and do not constitute an offer to any other person or to the public generally to subscribe for or otherwise acquire the Class A-2A Notes
other than pursuant to Rule 144A. Distribution by the Holder of either the Preliminary Offering Memorandum or the Offering Memorandum, or disclosure of any of its contents to any Person other than the Holder’s affiliates and regulators and
those Persons, if any, retained to advise the Holder with respect thereto and other Persons meeting the requirements of Rule 144A, is unauthorized and any such disclosure of any of its contents, without the prior written consent of the Issuer, is
prohibited. 
  
 (h) It has received and reviewed such information
as it deems necessary in order to make its investment decision and it is not relying on any information that differs from the information included in the Offering Memorandum. 
  
 (i) It meets the Rating Criteria. 
  

(j) It understands that the Issuer, the Indenture Trustee, the Initial Purchaser and their counsel will rely upon the accuracy and truth of the
foregoing representations, and it hereby consents to such reliance. 
  
 Notwithstanding anything set forth herein or the applicable exhibits hereto, each Holder has assumed that (i) the Offering Memorandum accurately describes the Transfer and Servicing Agreement and the Indenture in all material respects
and (ii) the Transfer and Servicing Agreement and the Indenture do not contain any material provisions not otherwise accurately summarized in all material respects in the Offering Memorandum. 
  
 ARTICLE IV 
  
 CONDITIONS 
  
 Section 4.01. Closing Date. 
  
 The obligations of the Holders to fund Draws shall not become effective until the date on which each of the Transfer and Servicing Agreement and the
Indenture is executed and delivered and the Class A-2A Notes are duly authorized, issued, authenticated and delivered under the Indenture. The Issuer shall notify the Indenture Trustee and the Holders if the obligations of the Holders to fund
Draws have not become effective as of the Closing Date. 
  

 9 

 Section 4.02. Each Draw. 
  
 The obligation of each Holder to fund a Draw hereunder is subject to the following conditions being met: 
  
 (a) The outstanding Commitment of such Holder has not expired or been
terminated or reduced to zero; and 
  
 (b) At the time of and
immediately after giving effect to such Draw, no Event of Default or Servicer Default or event the occurrence of which with notice or the lapse of time or both would become an Event of Default or a Servicer Default has occurred and is continuing or
would result from such Draw. 
  
 On each Draw Date, the Issuer
shall be deemed to have made a restatement of the representations and warranties by the Issuer set out in Section 3.01 on the date thereof and on the date of the funding of each Draw. On the date of funding of each Draw, the Holders
shall be deemed to have made a restatement of the representations and warranties by the Holders set out in Section 3.02. 
  
 Section 4.03. Obligations Unconditional. 
  
 Notwithstanding anything to the contrary in the terms of this Agreement but subject to Section 4.02, the obligation of each Holder to fund a
Draw in accordance with the terms of this Agreement shall be absolute and unconditional and shall not be affected by any circumstance whatsoever. 
  
 ARTICLE V 
  
 THE INDENTURE TRUSTEE 
  
 Section 5.01. Appointment as Agent. 
  
 The Issuer hereby irrevocably appoints the Indenture Trustee as its agent in accordance with the terms of this Agreement, and each of the Holders acknowledges and consents to such appointment. 
  
 Section 5.02. Certain Duties and Responsibilities. 
  
 (a) The Indenture Trustee undertakes to perform such duties and only such
duties as are specifically set forth in this Agreement, and no implied covenants or obligations shall be read into this Agreement against the Indenture Trustee. 
  

(b) Upon certificates and other notices furnished to the Indenture Trustee and conforming to the requirements of this Agreement, the Indenture Trustee
may, in the absence of bad faith on its part, conclusively rely as to the truth of the statements and the correctness of the opinions expressed therein; provided, that, in the case of any such certificates which by any provision hereof are
specifically required to be furnished to the Indenture Trustee, the Indenture Trustee shall be under a duty to examine the same to determine whether or not they substantially conform on their face to the requirements of this Agreement and shall
promptly, but in any event within three Business Days in the case of an Officer’s certificate furnished by the Servicer, notify 

  

 10 

 
the party delivering the same if such certificate or opinion does not so conform. If a corrected form shall not have been delivered to the Indenture Trustee
within 15 days after such notice from the Indenture Trustee, the Indenture Trustee shall so notify the Holders. 
  
 (c) No provision of this Agreement shall be construed to relieve the Indenture Trustee from liability for its own grossly negligent action, its own
grossly negligent failure to act, or its own willful misconduct, except that: 
  
 (i) this subsection shall not be construed to limit the effect of subsections (a) and (b) of this Section 5.02; 
  
 (ii) the Indenture Trustee shall not be liable for any error of judgment made in good faith by an Officer,
unless it shall be proven that the Indenture Trustee was grossly negligent in ascertaining the pertinent facts; and 
  
 (iii) no provision of this Agreement shall require the Indenture Trustee to expend or risk its own funds or otherwise incur any financial
liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers contemplated hereunder, if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such
risk or liability is not reasonably assured to it, unless such risk or liability relates to performance of its ordinary services under this Agreement. 
  
 (d) For all purposes under this Agreement, the Indenture Trustee shall not be deemed to have notice or knowledge of any Event of Default unless an Officer
of the Indenture Trustee has actual knowledge thereof or unless written notice of any event that is in fact such an Event of Default is received by the Indenture Trustee. 
  
 (e) Whether or not therein expressly so provided, every provision of this Agreement relating to the conduct or affecting the
liability of or affording protection to the Indenture Trustee shall be subject to the provisions of this Section 5.02. 
  
 Notwithstanding anything in this Agreement to the contrary, in no event shall the Indenture Trustee be liable under this Agreement for indirect, special,
punitive or consequential losses or damages of any kind whatsoever, including, but not limited to, lost profits, whether or not foreseeable, even if the Indenture Trustee has been advised of the possibility thereof and regardless of the form of
action in which such damages are sought. 
  
 Section 5.03.
Resignation and Removal; Notice of Successor. 
  
 (a) The
Indenture Trustee may only resign or be removed from its duties under this Agreement as may be allowed in Article VI of the Indenture. 
  
 (b) The Issuer shall give prompt notice of each resignation and each removal of the Indenture Trustee and each appointment of a successor Indenture
Trustee by mailing written notice of such event by first class mail, postage prepaid, to the Servicer, each Rating Agency and to the Holders as their names and addresses appear in the Delayed Draw Note Register. Each notice shall include the name
and address of the successor Indenture Trustee. If 

  

 11 

 
the Issuer fails to mail such notice within ten days after acceptance of appointment by the successor Indenture Trustee, the successor Indenture Trustee
shall cause such notice to be given at the expense of the Issuer. 
  
 ARTICLE VI 
  
 ALTERNATIVE CREDIT PROVIDER 
  
 Section 6.01. Commitment to Provide Alternative Credit. 
  
 If at any time during the Draw Period the Rating Criteria is not satisfied
with respect to the Initial Holder, the Alternative Credit Provider shall, within five Business Days of such failure, deposit cash in a Holder Subaccount on behalf of the Initial Holder in an amount equal to the then undrawn amount of the Initial
Holder’s Commitment (such deposit the “Alternative Credit”). 
  
 Section 6.02. Reimbursement Obligation. 
  
 (a) The Initial Holder shall reimburse the Alternative Credit Provider for the full amount of any and all payments made by the Alternative Credit Provider pursuant to the terms of this Agreement. Upon each succeeding
Draw Date following the date that the Alternative Credit Provider provides the Alternative Credit, the Initial Holder shall pay (i) the amount of such Draw to the Alternative Credit Provider, up to the amount of the Alternative Credit with
interest thereon at an per annum rate (calculated on a 360 day year) equal to LIBOR plus 2.50% based on the actual number of days elapsed from (and including) the date on which the Alternative Credit Provider provided the Alternative Credit
to (but excluding) the date on which the Alternative Credit Provider was reimbursed in full the Alternative Credit previously provided hereunder and (ii) all other amounts required to be paid to the Alternative Credit Provider pursuant to
Section 6.02(b) (collectively, the “Obligations”). If any of the funds in the Holder Subaccount are returned to the Initial Holder as required by Sections 10.07(c) or (d) of the Indenture, the Initial Holder shall
immediately transfer the full amount of such funds to the Alternative Credit Provider. 
  
 (b) (i) On any Draw Date following the Alternative Credit Provider’s provision of Alternative Credit, the Initial Holder shall pay to the Alternative Credit Provider any Class A-2A Commitment Fee received by
the Initial Holder; provided, that if the Alternative Credit Provider has been reimbursed the full amount of the Alternative Credit prior to such Draw Date, the Initial Holder shall only pay to the Alternative Credit Provider a portion of
such Class A-2A Commitment Fee pro rata based on the number of days elapsed from (and including) the date on which the Alternative Credit Provider provided the Alternative Credit to (but excluding) the date on which the Alternative
Credit Provider was reimbursed in full the Alternative Credit previously provided hereunder. 
  
 (ii) On any Distribution Date that the Initial Holder is paid investment earnings in respect of Class A-2A Permitted Investments, the
Initial Holder shall immediately pay over such investment earnings to the Alternative Credit Provider. 
  

 12 

 (c) The Initial Holder’s obligation under this Section 6.02 to make payment to the
Alternative Credit Provider shall be absolute and unconditional under any and all circumstances whatsoever. 
  
 Section 6.03. Grant of Security Interest. 
  
 Upon the Alternative Credit Provider’s provision of Alternative Credit, the Initial Holder (i) hereby Grants to the Alternative Credit Provider
a lien and continuing security interest in all of the Initial Holder’s right, title and interest in, including, without limitation, all right to payment thereunder, to and under the Initial Holder’s Class A-2A Notes and rights under
this Agreement with respect thereto and (ii) shall execute an Assignment and Acceptance in the form of Exhibit A with the Alternative Credit Provider transferring such rights and undrawn amount to the Alternative Credit Provider. The
Alternative Credit Provider will take such Grant and transferred interest as collateral security for the prompt and indefeasible payment in full when due of the Obligations (the date on which such full and indefeasible payment is made, the
“Alternative Credit Collection Date”). Upon the occurrence of the Alternative Credit Collection Date, the security interest of the Alternative Credit Provider shall automatically be released and the Alternative Credit Provider shall
execute an Assignment and Acceptance with the Initial Holder, transferring back to the Initial Holder the full amount of the Class A-2A Notes transferred from the Initial Holder to the Alternative Credit Provider. 
  
 ARTICLE VII 
  
 MISCELLANEOUS 
  
 Section 7.01. Notices. 
  
 Except in the case of notices and other communications expressly permitted to be given by telephone or electronic messaging system, all notices and other
communications provided for herein (including each consent, notice, direction or request) shall be in writing and shall be delivered by hand or overnight courier service or sent by fax, as follows: 
  
 (a) if to the Issuer, at its address or fax number set forth in the
Indenture; 
  
 (b) if to any Holder, the Indenture Trustee or the
Alternative Credit Provider, at its address or fax number set forth on Schedule I (in the case of the Initial Holder, the Indenture Trutess and the Alternative Credit Provider) or in the Assignment and Acceptance delivered by it; or at such
other address as shall be designated by a Holder in a notice to the Issuer, the Indenture Trustee and the Indenture Trustee; and 
  
 (c) if to a Rating Agency, in the manner specified in the Indenture. 
  
 All notices and other communications given to any party hereto in accordance with the provisions of this Agreement shall be
deemed to have been given on the date of receipt. Whenever notice is required to be given to any Holder hereunder, a copy of such notice shall also be provided at the same time and under the same conditions to each person, if any, listed on
Exhibit C. 
  

 13 

 Section 7.02. Waivers; Amendments. 
  
 (a) No waiver of any provision of this Agreement or consent to any departure by the Issuer therefrom shall in any event be
effective unless the same shall be permitted by Section 7.02(b) and the Indenture, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. Without limiting the generality of
the foregoing, the funding of a Draw shall not be construed as a waiver of any Default or Event of Default, regardless of whether the Indenture Trustee, any Holder or any other Noteholder may have had notice or knowledge of such Default or Event of
Default at the time. 
  
 (b) Neither this Agreement nor any
provision hereof may be waived, amended or modified except pursuant to an agreement or agreements in writing entered into by the Issuer, the Indenture Trustee, each of the Holders and the Alternative Credit Provider or by the Issuer and the
Indenture Trustee with the written consent of each of the Holders and the Alternative Credit Provider. Prior to entering into any amendment, waiver or modification to this Agreement, the Issuer shall obtain the prior written confirmation of each of
the Rating Agencies that the entry by the Issuer into such amendment will not adversely affect such Rating Agency’s then outstanding rating of the Offered Notes. Subject to the foregoing, the Issuer will give written notice to each Rating
Agency of any waiver, amendment or modification of any provision of this Agreement. 
  
 (c) No waiver, amendment or modification of the Indenture or any other agreement referred to herein or therein to which the Issuer is a party (other than this Agreement) shall affect any of the rights or obligations
under this Agreement of the parties hereto unless such waiver, amendment or modification is effected in accordance with the applicable provisions of the Indenture; provided, however, that no such waiver, amendment or modification shall
increase or extend the term of any of the Commitments, or extend the time or waive any requirement for the reduction or termination of or advance of funds under any of the Commitments, without the consent of each of the Holders and the Alternative
Credit Provider. 
  
 (d) 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. 
  
 Section 7.03. Successors and Assigns. 
  
 (a) The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and transferees. Nothing in this Agreement, expressed or implied, shall be
construed to confer upon any Person (other than the parties hereto and their respective successors and transferees) any legal or equitable right, remedy or claim under or by reason of this Agreement. Any purported assignment not in compliance with
this Section 7.03 shall be null and void. 
  
 (b) The
Issuer may not assign or delegate any of its rights or obligations under this Agreement without the prior consent of each Holder and the Indenture Trustee and receipt of Rating Agency Confirmation. Prior to the Commitment Termination Date, a Holder
of a 

  

 14 

 
Certificated Class A-2A Note may only transfer its interest upon providing the Issuer and the Indenture Trustee with a certificate from the assignee
making the representations set forth in Exhibit B. Any Holder may assign to one or more assignees all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitment and the amount of any Draws at
the time owing to it), only to the extent that, in either such case, (A) any assignment by a Holder of less than all of a Class A-2A Note or the related Commitment by such Holder shall be of the same ratable portion of such Class A-2A
Note and the related Commitment, (B) no such assignment shall be effected unless all conditions precedent to the transfer of the relevant Class A-2A Note specified in the Indenture have been satisfied, (C) no such assignment shall be
effected unless the assignee satisfies the Rating Criteria on the date of such assignment and (D) no such assignment shall be effected unless the parties to such assignment shall have executed and delivered to the Indenture Trustee a duly
completed Assignment and Acceptance and made the representations set forth in Exhibit B hereto. Upon acceptance and recording pursuant to Section 7.03(c), from and after the effective date specified in each Assignment and
Acceptance, the assignee thereunder shall be a party hereto and, to the extent of the interest assigned by such Assignment and Acceptance, have the rights and obligations of a Holder under this Agreement, and the assigning Holder thereunder shall,
to the extent of the interest assigned by such Assignment and Acceptance, be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all of the assigning Holder’s rights and obligations
under this Agreement and in respect of Class A-2A Notes, such Holder shall cease to be a party hereto). 
  
 (c) Upon its receipt of a duly completed Assignment and Acceptance executed by an assigning Holder and an assignee and a certificate making the
representations set forth in Exhibit B, the Indenture Trustee shall accept such Assignment and Acceptance and record the information contained therein in the Delayed Draw Note Register. No assignment shall be effective for purposes of this
Agreement unless it has been recorded in the Delayed Draw Note Register as provided in this paragraph. 
  
 (d) Any Holder may at any time Grant a security interest in all or any portion of its rights under this Agreement to secure obligations of such Holder,
including any such Grant to a Federal Reserve Bank or comparable non-U.S. entity, and this Section 7.03 shall not apply to any such Grant of a security interest; provided that no such Grant of a security interest shall release a
Holder from any of its obligations hereunder or substitute any such assignee for such Holder as a party hereto, and any such pledgee must be able to make all representations and warranties (deemed or otherwise) that would be required of it if it
were a Holder of the Class A-2A Notes (other than relating to the Rating Criteria). 
  
 (e) Following the Commitment Termination Date, any Holder of a Class A-2A Note may transfer its interest in such Note without regard to any of the provisions of this Section 7.03. 
  
 Section 7.04. Survival. 
  
 All covenants, agreements, representations and warranties made by the Issuer,
each Holder and the Alternative Credit Provider herein and in the certificates or other instruments delivered in connection with or pursuant to this Agreement or the Indenture shall be 

  

 15 

 
considered to have been relied upon by the other parties hereto and shall survive the execution and delivery of this Agreement and the funding of any Draws,
regardless of any investigation made by any such other party or on its behalf and notwithstanding that the Indenture Trustee, any Holder or the Alternative Credit Provider may have had notice or knowledge of any Default or Event of Default or
incorrect representation or warranty at the time any credit is extended hereunder, and shall continue in full force and effect as long as any Class A-2A Note or any amount payable under this Agreement or the Indenture in respect of any
Class A-2A Note is outstanding and unpaid and so long as the Commitments have not expired or terminated. 
  
 Section 7.05. Counterparts; Integration; Effectiveness. 
  
 This Agreement may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original,
but all of which when taken together shall constitute a single contract. This Agreement and the Indenture constitute the entire contract among the parties relating to the subject matter hereof and supersede any and all previous agreements and
understandings, oral or written, relating to the subject matter hereof. Except as provided in Section 4.01, this Agreement shall become effective when it shall have been executed by the Indenture Trustee and when the Indenture Trustee
shall have received counterparts hereof which, when taken together, bear the signatures of each of the other parties hereto, and thereafter shall be binding upon and inure to the benefit of the parties hereto and their respective successors and
assigns. Delivery of an executed counterpart of a signature page of this Agreement by fax shall be effective as delivery of a manually executed counterpart of this Agreement. 
  
 Section 7.06. Severability. 
  

Any provision of this Agreement held to be invalid, illegal or unenforceable in any respect in any jurisdiction shall, as to such jurisdiction, be
ineffective to the extent of such invalidity, illegality or unenforceability in such matter without affecting the validity, legality and enforceability of any such provision in every other respect and of the remaining provisions hereof; and the
invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction. 
  
 Section 7.07. Governing Law; Jurisdiction; Consent to Service of Process; WAIVER OF JURY TRIAL RIGHT. 
  
 (a) THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE
LAW OF THE STATE OF NEW YORK APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED THEREIN. 
  
 (b) Each of the parties hereto hereby irrevocably and unconditionally submits, for itself and its property, to the nonexclusive jurisdiction of the Supreme Court of the State of New York sitting in New York County and
of the United States District Court of the Southern District of New York, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Agreement or any documents related thereto, or for recognition or
enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard 

  

 16 

 
and determined in such New York State or, to the extent permitted by law, in such federal court. Each of the parties hereto agrees that a final judgment in
any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Agreement shall affect any right that the Indenture Trustee, the Indenture
Trustee, any Holder or the Alternative Credit Provider may otherwise have to bring any action or proceeding relating to this Agreement against the Issuer or its properties in the courts of any jurisdiction. 
  
 (c) Each of the parties hereto hereby irrevocably and unconditionally waives,
to the fullest extent it may legally and effectively do so, any objection that it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement in any court referred to in
Section 7.07(b). Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. 
  
 (d) Each party to this Agreement irrevocably consents to service of process
in the manner provided for notices in Section 7.01. Nothing in this Agreement will affect the right of any party to this Agreement to serve process in any other manner permitted by law. 
  
 (e) EACH PARTY TO THIS AGREEMENT HEREBY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, ANY RIGHT THAT IT MAY HAVE TO A TRIAL BY JURY (BUT NO OTHER JUDICIAL REMEDIES) IN RESPECT OF ANY PROCEEDING. 
  
 Section 7.08. Benefits of Indenture. 
  
 The Issuer hereby acknowledges and confirms that each representation, warranty, covenant and agreement made pursuant to the Indenture by it to the
Indenture Trustee, for the benefit and security of the Holders and the Alternative Credit Provider, is also made herein for the benefit and security of the Holders and the Alternative Credit Provider. 
  
 Section 7.09. Headings. 
  
 Article and Section headings and the Table of Contents used herein are for
convenience of reference only, are not part of this Agreement and shall not affect the construction of, or be taken into consideration in interpreting, this Agreement. 
  
 Section 7.10. Recourse Against Certain Parties. 
  
 No recourse under or with respect to any obligation, covenant or agreement of any Holder or Alternative Credit Provider or
any other agreement, instrument or document entered into by it pursuant hereto or in connection herewith shall be had against any incorporator, stockholder, affiliate, officer, member, manager, partner, employee or director of such Holder or
Alternative Credit Provider, as such, by the enforcement of any assessment, by any legal or equitable proceeding, by virtue of any statute or otherwise; it being expressly agreed and understood that the agreements of such Holder or Alternative
Credit Provider contained in this Agreement and all of the other agreements, instruments and documents entered into by it pursuant hereto or in connection herewith are, in each case, solely the corporate obligations of 

  

 17 

 
such Holder or Alternative Credit Provider, and that no personal liability whatsoever shall attach to or be incurred by any incorporator, stockholder,
affiliate, officer, member, manager, partner, employee or director of such Holder or Alternative Credit Provider, as such, or any of them, under or by reason of any of the obligations, covenants or agreements of such Holder or Alternative Credit
Provider contained in this Agreement or in any other such instrument, document or agreement, or which are implied therefrom, and that any and all personal liability of every such incorporator, stockholder, Affiliate, officer, employee, member,
manager, partner or director of such Holder or Alternative Credit Provider for breaches by such Holder or Alternative Credit Provider of any such obligations, covenants or agreements, which liability may arise either at common law or at equity, by
statute or constitution, or otherwise, is hereby expressly waived as a condition of and in consideration for the execution of this Agreement. The provisions of this Section 7.10 shall survive the termination of this Agreement.

  
 Section 7.11. Limited-Recourse Obligations. 

 
 The Class A-2A Notes and all obligations of the Issuer under this
Agreement are limited-recourse obligations of the Issuer. The Notes are payable solely from the Loans and other Indenture Collateral pledged by the Issuer to secure the Notes. None of the Holders (including shareholders), members, partners,
officers, directors, employees or incorporators of the Issuer, the Servicer, the Originator, the Initial Purchaser, the Indenture Trustee, any of their respective affiliates and any other person or entity will be obligated to make payments on the
Notes. Consequently, the Holders of the Notes must rely solely on amounts received in respect of the Loans and other Indenture Collateral pledged to secure the Notes for the payment of principal thereof and interest and Class A-2A Commitment
Fee thereon. Following application of the Indenture Collateral in accordance with the Indenture, any outstanding obligations of, or claims against, the Issuer under this Agreement or the Class A-2A Notes will be extinguished and shall not
thereafter revive. Each Holder hereby agrees not to cause the filing of a petition in bankruptcy against the Issuer for the non-payment to the Holder of any amounts under the Class A-2A Notes before 366 days have elapsed or, if longer, the
applicable preference period then in effect after the payment in full of the Notes issued under the Indenture. The provisions of this Section 7.11 shall survive the termination of this Agreement. 
  
 Section 7.12. Non-Petition. 
  
 The parties hereto hereby agree not to cause the filing of a petition in
bankruptcy against the Issuer or the Initial Holder before 366 days have elapsed or, if longer, the applicable preference period then in effect after the payment in full of the Notes issued under the Indenture. 
  
 Section 7.13. Exchange of Notes. 
  
 (a) Following the end of the Draw Period, each Holder may surrender its
Certificated Class A-2A Note to the Indenture Trustee in exchange for a beneficial interest in the applicable Global Note, subject to the requirements of Section 4.02 of the Indenture. The Holder will be required to provide to the
Indenture Trustee a written order containing information regarding the Depository, Euroclear or Clearstream account, as applicable, to be credited with such increase. 
  

 18 

 (b) Any Holder may continue to hold its Certificated Class A-2A Notes after the Draw Period is
ended. 
  
 Section 7.14. Limitation of Liability.

  
 Notwithstanding any other provision herein or elsewhere, this
Agreement has been executed and delivered on behalf of the Issuer by Wachovia Bank of Delaware, National Association, not in its individual capacity, but solely in its capacity as Owner Trustee of the Issuer, in no event shall Wachovia Bank of
Delaware, National Association, or the Owner Trustee have any liability in respect of the representations, warranties, or obligations of the Issuer hereunder or under any other document, as to all of which recourse shall be had solely to the assets
of the Issuer, and for all purposes of this Agreement and each other document, the Owner Trustee and Wachovia Bank of Delaware, National Association, shall be entitled to the benefits of the Trust Agreement. 
  
 [Signature Pages Follow] 
  

 19 

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

			
	 ACAS BUSINESS LOAN TRUST 2005-1,

	as Issuer
		
	By:	 	 WACHOVIA BANK OF DELAWARE,
 NATIONAL ASSOCIATION, not in its
 individual capacity but solely in its capacity
 as Owner Trustee

		
	By	 	/s/    JASON CONCAVAGE        
	 Name:
	 	Jason Concavage
	 Title:
	 	Trust Officer 
	
	 WELLS FARGO BANK, NATIONAL
 ASSOCIATION as Indenture Trustee

		
	By	 	/s/    CORY BRANDEN        
	 Name:
	 	Cory Branden
	 Title:
	 	Vice President 
	
	 WACHOVIA BANK, NATIONAL
 ASSOCIATION as Alternative Credit Provider

		
	By	 	/s/    PAUL BURKHART         
	 Name:
	 	Paul Burkhart 
	 Title:
	 	Vice President 
	
	 CENTAURI CORPORATION,
 as Initial Holder

		
	By	 	/s/    EV BERGEN        
	 Name:
	 	Ev Bergen
	 Title:
	 	Director 

  

 ACAS Business Loan Trust 2005-1 
 Class A-2A Note Purchase Agreement 

			
	 CENTAURI CORPORATION,
 as Initial Holder

		
	By:	 	/s/    EOIN WALSH        
	 Name:
	 	Eoin Walsh
	 Title:
	 	Vice President 

  

 ACAS Business Loan Trust 2005-1 
 Class A-2A Note Purchase Agreement 

 SCHEDULE I 
  
 INITIAL HOLDER 
  

				
	 Name

	  	Commitment Amount

	 Centauri Corporation
	  	$	70,000,000
	 Berkeley Square House
	  	 	 
	 4-19 Berkeley Square
	  	 	 
	 London, W1J6DD
	  	 	 
	 Facsimile: +44 20 7836 0078
	  	 	 
	 Telephone: +44 20 7500 0301
	  	 	 
	 Attention: Eoin Walsh or Erik Van Bergen
	  	 	 
		
	 *******
	  	 	 
		
	 Notices to the Alternative Credit Provider:
	  	 	 
		
	 Wachovia Bank, National Association,
	  	 	 
	 One Wachovia Center, Mail Code: NC 0600
	  	 	 
	 Charlotte, North Carolina 28288
	  	 	 
	 Facsimile: (704) 374-6495
	  	 	 
	 Telephone: (704) 383-0906
	  	 	 
	 Attention: Mary Katherine Dubose
	  	 	 
		
	 *******
	  	 	 
		
	 Notices to the Indenture Trustee:
	  	 	 
		
	 Wells Fargo Bank, National Association
 as the Indenture Trustee
	  	 	 
	 Sixth and Marquette Avenue, MAC N9311-161
	  	 	 
	 Minneapolis, Minnesota 55479
	  	 	 
	 Facsimile: (612) 667-3464
	  	 	 
	 Telephone: (612) 667-8058
	  	 	 
	 Attention: Corporate Trust Services/Asset Backed Administration
	  	 	 

  

 SI-1 

 EXHIBIT A 
  
 ASSIGNMENT AND ACCEPTANCE 
  
 Reference is made to the Class A-2A Note Purchase Agreement dated as of October 4, 2005 (as modified and supplemented and in effect from time to
time, the “Note Purchase Agreement”) by and among ACAS BUSINESS LOAN TRUST 2005-1 (the “Issuer”), the HOLDERS party thereto, and WELLS FARGO BANK, NATIONAL ASSOCIATION as Indenture Trustee (the “Indenture
Trustee”) under the Indenture dated as of October 4, 2005 (as modified and supplemented and in effect from time to time, the “Indenture”) entered into by the Issuer with the Indenture Trustee. Capitalized terms used
but not defined herein shall have the respective meanings given to such terms in the Note Purchase Agreement and, if not defined in the Note Purchase Agreement, in the Indenture. 
  
 The Assignor named on the reverse hereof (the “Assignor”) hereby sells and assigns to the Assignee named on
the reverse hereof (the “Assignee”), and the Assignee hereby purchases and assumes from the Assignor, effective as of the assignment date (the “Assignment Date”) set forth on the reverse hereof, the interests set
forth on the reverse hereof (the “Assigned Interest”) in the Assignor’s rights and obligations under the Note Purchase Agreement, including, without limitation, the interests set forth on the reverse hereof in the
Class A-2A Notes held by (and the related Commitment of and outstanding principal amount of Draws held by) the Assignor on the Assignment Date. The Assignee hereby acknowledges receipt of a copy of the Note Purchase Agreement and confirms that,
on the Assignment Date, it satisfies the Rating Criteria and the requirements set forth in Exhibit B to the Note Purchase Agreement. From and after the Assignment Date (A) the Assignee shall be a party to and be bound by the provisions of the
Note Purchase Agreement and, to the extent of the Assigned Interest, have the rights and obligations of a Holder thereunder and (B) the Assignor shall, to the extent of the Assigned Interest, relinquish its rights and be released from its
obligations under the Note Purchase Agreement. The Assignee hereby represents and warrants to the Issuer that, as of the Assignment Date, the representations and warranties contained in the Note Purchase Agreement (including, without limitation, in
Sections 2.06 and 3.02 thereof and Exhibit B thereto) or any other documents to which the Assignor is a party are, and will be as of the date of any Draw, true and correct in all respects with respect to the Assignee. The Assignor hereby represents
and warrants to the Assignee that, as of the Assignment Date, the Assignor (1) owns the Assigned Interest free and clear of any lien or other encumbrance and (2) is not aware of any Default or Event of Default under the Indenture.

  

 A-1 

 This Assignment and Acceptance shall be governed by and construed in accordance with the law of the State
of New York. 
  
 Legal Name of Assignor: 
  
 Legal Name of Assignee: 
  
 Assignee’s Address(es) for Notices1: 
  
 Fax No(s).: 
  
 Details of electronic messaging system: 
  
 Payment Instructions: 
  
 Federal Taxpayer ID No. of Assignee: 
  
 Effective Date of Assignment (Assignment Date): 
  

							
	 	  	Amount Assigned

	  	Amount Retained by Assignor

	 Commitment:
	  	U.S.$	 	  	U.S.$	 
	 Outstanding Principal Amount of Draws:
	  	U.S.$	 	  	U.S.$	 

  
 The terms set forth
above and on the reverse side hereof are hereby agreed to: 
  

			
	 [Name of Assignor], as Assignor

		
	 By
	 	 
	 Name:
	 	 
	 Title:
	 	 
	
	 [Name of Assignee], as Assignee

		
	 By
	 	 
	 Name:
	 	 
	 Title:
	 	 

	1	Please provide information for at least 3 contact people. 

  

 A-2 

 EXHIBIT B 
  
 Transferee Representations 
  
 Each purchaser of Class A-2A Notes and each transferee thereof (whether by resale, pledge or otherwise) will be required to provide the Indenture
Trustee and the Issuer with a letter or certificate (in the case of the Initial Purchaser, in the form provided as Exhibit A to the Class A-2A Note Purchase Agreement and, in the case of a transferee, in substantially the form provided in the
Indenture) in which the purchaser represents and agrees substantially as follows: 
  
 (i) The Holder is one of the following: (A) a U.S. Person that is a “qualified institutional buyer” (“QIB”) as such term is defined in Rule 144A and is acquiring the Class A-2A
Notes in reliance on the exemption from registration pursuant to Section 4(2) of the Securities Act for its own account (and nor for the account of any family or other trust, any family member or any other Person), or (B) not a U.S. person
or a U.S. resident (as determined for purposes of the Investment Company Act and the Securities Act) (a “U.S. Person”) and is acquiring the Class A-2A Notes in an offshore transaction meeting the requirements of Rule 903 or
Rule 904 of Regulation S and in a principal amount of not less than $[                    ] and (x) either such Holder’s principal
place of business is not located in any Federal Reserve District of the United States Federal Reserve Bank or (y) such Holder has satisfied and will satisfy any applicable registration or other requirements of the Board of Governors of the
Federal Reserve System including Regulation U, in connection with its acquisition of the Class A-2A Notes. 
  
 (ii) If a U.S. Person, the Holder is (A) a QIB acquiring the Class A-2A Notes for its own account and it is not (a) a broker-dealer
described in paragraph (a)(1)(ii) of Rule 144A that owns and invests on a discretionary basis less than $25 million in securities of issuers that are not affiliated Persons of the dealer or (b) a plan referred to in paragraph
(a)(1)(i)(D) or (a)(1)(i)(E) of Rule 144A, or a trust fund referred to in paragraph (a)(1)(i)(F) of Rule 144A that holds the assets of such a plan, if investment decisions with respect to the plan are made by the beneficiaries of the
plan or (B) a “qualified purchaser” (“Qualified Purchaser”) for purposes of Section 3(c)(7) of the Investment Company Act. 
  

(iii) If a U.S. Person, if the Holder is a corporation, partnership, trust or other entity, it was not formed or recapitalized for the specific purpose
of acquiring the Class A-2A Notes. 
  
 (iv) If a U.S. Person,
if the Holder would be an investment company but for the exclusions from the Investment Company Act provided by Section 3(c)(1) or Section 3(c)(7) thereof, (a) all of the beneficial owners of its outstanding securities (other than
short-term paper) that acquired such securities on or before April 30, 1996 (“pre-amendment beneficial owners”) have consented to its treatment as a Qualified Purchaser and (b) all of the pre-amendment beneficial owners of a
company that would be an investment company but for the exclusions from the Investment Company Act provided by Section 3(c)(1) or Section 3(c)(7) thereof and that directly or indirectly owned any of its outstanding securities (other than
short-term paper) have consented to its treatment as a Qualified Purchaser. 
  

 B-1 

 (v) If a U.S. Person, the Holder is acquiring the Class A-2A Notes as principal for its own account
for investment and not for sale in connection with any distribution thereof and in an authorized denomination, the Holder was not formed solely for the purpose of investing in the Class A-2A Notes and is not a (a) partnership,
(b) common trust fund or (c) special trust, profit sharing, pension fund or other retirement plan in which partners, beneficiaries or participants, as applicable, may designate the particular investments to be made, and the purchaser
agrees that it shall not hold such Class A-2A Notes for the benefit of any other person and shall be the sole beneficial owner thereof for all purposes and that, in accordance with the provisions therefor in the Indenture, it shall not sell
participation interests in the Class A-2A Notes or enter into any other arrangement pursuant to which any other person shall be entitled to a beneficial interest in the distributions on the Class A-2A Notes and further that the
Class A-2A Notes purchased directly or indirectly by it constitute an investment of no more than 40% of its assets. The Holder understands and agrees that any purported transfer of the Class A-2A Notes to a person that does not comply with
the requirements of this clause (5) shall be null and void ab initio. 
  
 (vi) If a U.S. Person, the Holder has such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of its investment in the Notes, and it (and each account for
which it is acting) is able to bear the economic risk of its investment. 
  
 (vii) If a U.S. Person, the Holder is not purchasing the Class A-2A Notes with a view to the resale, distribution or other disposition thereof in violation of the Securities Act; the Holder has read and
understood the Offering Memorandum for the Class A-2A Notes, including without limitation the “Risk Factors” section therein; the Holder understands that an investment in the Class A-2A Notes involves certain risks, including the
risk of loss of all or a substantial part of its investment; the Holder has had access to such financial and other information concerning the Issuer, the Class A-2A Notes and the Collateral as it deemed necessary or appropriate in order to make
an informed investment decision with respect to its purchase of the Class A-2A Notes, including an opportunity to ask questions of and request information from the Issuer. 
  
 (viii) In the case of a U.S. Person, none of the Issuer, the Initial Purchaser, the Servicer or any of their respective
affiliates is acting as a fiduciary or financial or investment adviser for the Holder; the Holder is not relying (for purposes of making any investment decision or otherwise) upon any advice, counsel or representations (whether written or oral) of
the Issuer, the Initial Purchaser, the Servicer or any of their respective affiliates other than in the Offering Memorandum for the Class A-2A Notes and in the Transaction Documents; none of the Issuer, the Initial Purchaser, the Servicer or
any of their respective affiliates has given the Holder (directly or indirectly through any other person or documentation for the Class A-2A Notes) any assurance, guarantee or representation whatsoever as to the expected or projected success,
profitability, return, performance, result, effect, consequence or benefit (including legal, regulatory, tax, financial, accounting or otherwise) of the Class A-2A Notes or of the Indenture; the Holder has consulted with its own legal,
regulatory, tax, business, investment, financial, and accounting advisers to the extent it has deemed necessary, and it has made its own investment decisions (including decisions regarding the suitability of any transaction pursuant to the
documentation for the Class A-2A Notes) based upon its own judgment and upon any advice 

  

 B-2 

 
from such advisers as it has deemed necessary and not upon any view expressed by the Issuer, the Initial Purchaser, the Servicer or any of their respective
affiliates; the Holder has determined that the rates, prices or amounts and other terms of the purchase and sale of such Class A-2A Notes reflect those in the relevant market for similar transactions; if the Holder is acting for the account of
another investor, the Holder represents that the investment on behalf of such account is based on a determination that the investment is suitable based on the risks referred to in the offering memorandum for the Class A-2A Notes (including,
without limitation, under the sections entitled “Risk Factors” and “Description of the Notes” therein), given the investment objectives of the account for which the purchase is being made, and that the investment is consistent
with any applicable legal requirements; the Holder is purchasing such Class A-2A Notes with a full understanding of all of the terms, conditions and risks thereof (economic and otherwise), and it is capable of assuming and willing to assume
(financially and otherwise) those risks; the Holder is a sophisticated investor. 
  
 (ix) If a U.S. Person, the Holder will not, at any time, offer to buy or offer to sell the Class A-2A Notes by any form of general solicitation or advertising, including, but not limited to, any advertisement,
article, notice or other communication published in any newspaper, magazine or similar medium or broadcast over television or radio or seminar or meeting whose attendees have been invited by general solicitations or advertising. 
  
 (x) The Holder understands that the Class A-2A Notes are being offered
only in a transaction not involving any public offering in the United States within the meaning of the Securities Act, the Class A-2A Notes have not been and will not be registered under the Securities Act or the Investment Company Act, and, if
in the future it decides to offer, resell, pledge or otherwise transfer the Class A-2A Notes, such Class A-2A Notes may be offered, resold, pledged or otherwise transferred only in accordance with the legend on the certificate representing
such Class A-2A Notes, which is expected to be substantially as described below, and the terms of the Indenture; the Holder acknowledges that no representation is made by the Issuer, the Servicer or the Initial Purchaser or any of their
respective affiliates as to the availability of any exemption under the Securities Act or any other securities laws for resale of the Class A-2A Notes. 
  
 (xi) The Holder agrees that it will not offer or sell, transfer, assign, or otherwise dispose of the Class A-2A Notes or any interest therein except
(a) pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and any applicable state securities laws or the applicable laws of any other jurisdiction and (b) in accordance with
the Indenture, to which provisions the Holder agrees it is subject. 
  
 (xii) The Holder understands and agrees that (a) no transfer may be made that would result in any person or entity holding beneficial ownership in any Class A-2A Notes in less than the authorized amount as set forth herein and
(b) no transfer of Class A-2A Notes that would have the effect of requiring either of the Issuers or the pool of Collateral to register as an investment company under the Investment Company Act will be permitted. 
  
 (xiii) the Holder understands that, prior to any sale or other transfer of
any interest in the Class A-2A Notes held or to be held by the Holder in the form of Certificated Class A-2A Notes, it (or the transferee, as applicable) will provide to the Issuer and the Indenture 

  

 B-3 

 
Trustee a duly executed transfer certificate substantially in the applicable form attached to the Indenture, and such other certificates and other
information as they may reasonably require to confirm that the proposed transfer complies with the restrictions in the legend placed on each certificate representing the Class A-2A Notes and in the Note Purchase Agreement and the Indenture.

  
 (xiv) The Holder understands that the Issuer has the right
under the Indenture to compel any beneficial owner of Class A-2A Notes that is a U.S. person and is not a Qualified Purchaser to sell its interest in such Class A-2A Notes, or may sell such interest in such Class A-2A Notes on behalf
of such owner. 
  
 (xv) (a) the Holder either: (i) is
not, and is not acquiring or holding the Class A-2A Notes, directly or indirectly, on behalf of or with any assets of, an “employee benefit plan” as defined in Section 3(3) of ERISA that is subject to Title I of ERISA, or a
“plan” described in and subject to Section 4975 of the Code (collectively, a “Plan”), or other plan or arrangement subject to any federal, state, local, non-U.S. or other law substantively similar to the foregoing provisions
of ERISA or the Code (“Similar Law”), or (ii) after the commitment termination date, its acquisition and holding of the Class A-2A Notes will not constitute or result in a non-exempt prohibited transaction under Title I of ERISA
or Section 4975 of the Code or a violation of Similar Law; (b) the Holder shall not transfer an interest in the Class A-2A Notes to a Plan or a plan subject to Similar Law unless such plan meets the foregoing requirements; and(c) the
Holder hereby makes the representations and agrees to the undertakings set forth in Section 2.5(f)(iv)(E) of the Indenture, including any indemnification provisions contained therein. Any purported purchase or transfer of the Class A-2A
Notes to a purchaser or transferee that does not comply with the requirements of this clause (D) shall be null and void ab initio. 
  
 (xvi) The Holder is not the Issuer, the Servicer or any other Controlling Person. 
  
 (xvii) The Holder is aware that each Class A-2A Note will bear the following legend: 
  
 THIS NOTE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR UNDER ANY STATE SECURITIES OR BLUE SKY LAW OF ANY STATE. PROSPECTIVE INVESTORS ARE HEREBY NOTIFIED THAT THE SELLERS OF THE OFFERED NOTES MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF
SECTION 5 OF THE SECURITIES ACT PROVIDED BY RULE 144A THEREUNDER. THE HOLDER HEREOF, BY PURCHASING THIS NOTE, AGREES THAT THIS NOTE MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER
REQUIREMENTS OF LAWS AND ONLY (1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”) TO A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A (A “QIB”) WHO
IS A QUALIFIED PURCHASER, PURCHASING FOR ITS OWN ACCOUNT OR A QIB PURCHASING FOR THE ACCOUNT OF A QIB WHO IS A QUALIFIED PURCHASER, WHOM THE HOLDER HAS INFORMED THAT THE REOFFER, 

  

 B-4 

 
RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (2) IN CERTIFICATED FORM TO AN INSTITUTIONAL “ACCREDITED INVESTOR”
(WITHIN THE MEANING OF RULE 501 (a)(1)–(3) OR (7) UNDER THE SECURITIES ACT) WHO IS A QUALIFIED PURCHASER FOR PURPOSES OF SECTION 3(C)(7) UNDER THE 1940 ACT PURCHASING FOR INVESTMENT AND NOT FOR DISTRIBUTION IN VIOLATION OF THE SECURITIES
ACT, IN EACH CASE, SUBJECT TO (A) THE RECEIPT BY THE INDENTURE TRUSTEE OF A LETTER SUBSTANTIALLY IN THE FORM PROVIDED IN THE INDENTURE AND (B) THE RECEIPT BY THE INDENTURE TRUSTEE OF SUCH OTHER EVIDENCE ACCEPTABLE TO THE INDENTURE TRUSTEE
THAT SUCH REOFFER, RESALE, PLEDGE OR TRANSFER IS IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER REQUIREMENTS OF LAWS OR IN EACH CASE IN ACCORDANCE WITH ALL APPLICABLE SECURITIES LAWS OF THE UNITED STATES AND SECURITIES AND BLUE SKY LAWS OF ANY
STATE OF THE UNITED STATES AND ANY OTHER APPLICABLE JURISDICTION, (3) OTHER THAN IN THE CASE OF THE CLASS A-2A NOTES (PRIOR TO THE EFFECTIVE DATE), IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH RULE 903 OR RULE 904 OF REGULATION S,
(4) PURSUANT TO ANOTHER EXEMPTION AVAILABLE UNDER THE SECURITIES ACT AND IN ACCORDANCE WITH ANY APPLICABLE STATE SECURITIES LAWS, OR (5) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT. THE PURCHASE OF AN OFFERED NOTE WILL BE DEEMED A
REPRESENTATION BY THE ACQUIRER THAT EITHER: (I) THAT IT IS NOT, AND IS NOT DIRECTLY OR INDIRECTLY ACQUIRING THE NOTES FOR, ON BEHALF OF OR WITH ANY ASSETS OF, AN EMPLOYEE BENEFIT PLAN OR OTHER ARRANGEMENT SUBJECT TO TITLE I OF THE EMPLOYEE
RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), A PLAN DESCRIBED IN AND SUBJECT TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), OR A PLAN OR OTHER ARRANGEMENT SUBJECT TO ANY PROVISIONS
UNDER ANY FEDERAL, STATE, LOCAL, NON-U.S. OR OTHER LAWS OR REGULATIONS THAT ARE SUBSTANTIVELY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE (“SIMILAR LAW”) OR (II) WITH RESPECT TO THE CLASS A-1A NOTES, THE CLASS B NOTES, THE
CLASS C NOTES AND AFTER THE COMMITMENT TERMINATION DATE THE CLASS A-2A NOTES, THAT ITS ACQUISITION AND HOLDING OF SUCH NOTE OR ANY INTEREST THEREIN WILL NOT CONSTITUTE OR RESULT IN A NON-EXEMPT PROHIBITED TRANSACTION UNDER ERISA OR THE CODE, OR A
VIOLATION OF SIMILAR LAW. 
  
 (xviii) The Holder will provide
notice to each person to whom it proposes to transfer any interest in the Class A-2A Notes of the transfer restrictions and representations set forth in the Indenture and the Note Purchase Agreement. 
  

 B-5 

 EXHIBIT C 
  
 List of Notice Addresses 
  

 D-1

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