Document:

AMENDED AND RESTATED NOTE PURCHASE AGREEMENT

 EXECUTION VERSION 
  
 Exhibit 10.1 
  

  
 AMENDED AND RESTATED NOTE PURCHASE
AGREEMENT 
  
 among 
  
 GOVERNMENT CONTRACT RECEIVABLES NOTE TRUST, 
 as the Issuer, 
  
 ELECTRONIC DATA SYSTEMS CORPORATION, 
 as a Seller, 
  
 EDS INFORMATION SERVICES L.L.C., 
 as the Servicer and as a Seller, 
  
 U.S. BANK NATIONAL ASSOCIATION, 
 as successor
in interest to State Street Bank and Trust Company, 
 as Indenture Trustee, 
  
 and 
  
 THE MANAGING AGENTS, 
 THE CONDUIT PURCHASERS,

 THE COMMITTED PURCHASERS 
 AND

 THE ALTERNATE TRANSFEREES 
 FROM
TIME TO TIME PARTY HERETO 
  
 and 
  
 CREDIT SUISSE FIRST BOSTON, NEW YORK BRANCH, 
 as the Administrative Agent 
  
 dated as of September 19, 2001, 
 as amended and
restated as of October 22, 2003 
  

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page

	ARTICLE I
	DEFINITIONS
			
	 SECTION 1.01.
	  	 Certain Defined Terms
	  	1
	
	ARTICLE II
	PURCHASE AND SALE
			
	 SECTION 2.01.
	  	 Purchase and Sale of the Notes
	  	12
			
	 SECTION 2.02.
	  	 Initial Purchase Price
	  	13
			
	 SECTION 2.03.
	  	 Advances
	  	13
			
	 SECTION 2.04.
	  	 Reduction of Maximum Amount or the Group Purchase Limit
	  	17
			
	 SECTION 2.05.
	  	 Calculation of the Note Interest Rates
	  	17
			
	 SECTION 2.06.
	  	 Calculation and Payment of Monthly Interest, Liquidity Fee and Fees
	  	18
			
	 SECTION 2.07.
	  	 Assignment to Alternate Transferees, Program Support Providers and SPRCs
	  	19
			
	 SECTION 2.08.
	  	 Time and Method of Payments
	  	22
			
	 SECTION 2.09.
	  	 Extension of Commitment Termination Date
	  	22
			
	 SECTION 2.10.
	  	 Limited Recourse
	  	24
	
	ARTICLE III
	CLOSING
			
	 SECTION 3.01.
	  	 Closing
	  	24
			
	 SECTION 3.02.
	  	 Transactions to be Effected at the Closing
	  	24
	
	ARTICLE IV
	CONDITIONS PRECEDENT TO PURCHASE ON THE FUNDING DATE
			
	 SECTION 4.01.
	  	 Performance by the Issuer, the Sellers and the Servicer
	  	25
			
	 SECTION 4.02.
	  	 Representations and Warranties
	  	25
			
	 SECTION 4.03.
	  	 Opinions of Counsel to the Issuer
	  	25
			
	 SECTION 4.04.
	  	 Opinions of Counsel to the Owner Trustee
	  	25
			
	 SECTION 4.05.
	  	 Opinions of Counsel to the Indenture Trustee
	  	25
			
	 SECTION 4.06.
	  	 Opinions of Counsel to the Sellers and the Servicer
	  	26
			
	 SECTION 4.07.
	  	 Reliance Letters
	  	26
			
	 SECTION 4.08.
	  	 Accounts
	  	26
			
	 SECTION 4.09.
	  	 Perfection of Security Interests
	  	26
			
	 SECTION 4.10.
	  	 Search Results
	  	26

  

 i 

 TABLE OF CONTENTS 
 (continued) 
  

					
	 	  	 	  	Page

	 SECTION 4.11.
	  	 Hedging Requirements
	  	26
			
	 SECTION 4.12.
	  	 Documents
	  	26
			
	 SECTION 4.13.
	  	 No Actions or Proceedings
	  	27
			
	 SECTION 4.14.
	  	 Approvals and Consents
	  	27
			
	 SECTION 4.15.
	  	 Officer’s Certificates
	  	27
			
	 SECTION 4.16.
	  	 Delivery of Investment Letters
	  	27
			
	 SECTION 4.17.
	  	 Delivery of the Notes
	  	27
			
	 SECTION 4.18.
	  	 Other Documents
	  	27
			
	 SECTION 4.19.
	  	 Fees
	  	27
			
	 SECTION 4.20.
	  	 Transaction Documents Conditions
	  	27
	
	ARTICLE V
	 RELIANCE ON REPRESENTATIONS AND WARRANTIES AND CONDITIONS
 PRECEDENT, REAFFIRMATION OF REPRESENTATIONS AND WARRANTIES

			
	 SECTION 5.01.
	  	 Reliance on Representations and Warranties
	  	28
			
	 SECTION 5.02.
	  	 Reliance on Conditions Precedent
	  	28
			
	 SECTION 5.03.
	  	 Representations and Covenants of the Indenture Trustee
	  	28
	
	ARTICLE VI
	 REPRESENTATIONS AND WARRANTIES WITH RESPECT TO THE CONDUIT
 PURCHASERS, COMMITTED PURCHASERS AND THE ALTERNATE TRANSFEREES

			
	 SECTION 6.01.
	  	 Organization
	  	28
			
	 SECTION 6.02.
	  	 Authority, etc
	  	28
			
	 SECTION 6.03.
	  	 Securities Act
	  	29
	
	ARTICLE VII
	COVENANTS OF THE ISSUER, SELLERS AND THE SERVICER
			
	 SECTION 7.01.
	  	 Covenants
	  	29
			
	 SECTION 7.02.
	  	 Amendments
	  	29
			
	 SECTION 7.03.
	  	 Rule 144A Information
	  	30
	
	ARTICLE VIII
	ADDITIONAL COVENANTS
			
	 SECTION 8.01.
	  	 Further Actions
	  	30
			
	 SECTION 8.02.
	  	 Restrictions on Transfer
	  	30
			
	 SECTION 8.03.
	  	 Certain Returns for Cancellation or Termination
	  	31

  

 -ii- 

 TABLE OF CONTENTS 
 (continued) 
  

					
	 	  	 	  	Page

	
	ARTICLE IX
	INDEMNIFICATION
			
	 SECTION 9.01.
	  	 Indemnification
	  	31
			
	 SECTION 9.02.
	  	 Procedure
	  	31
			
	 SECTION 9.03.
	  	 Defense of Claims
	  	32
			
	 SECTION 9.04.
	  	 Indemnity for Taxes, Reserves and Expenses
	  	32
			
	 SECTION 9.05.
	  	Costs, Expenses, Taxes, Breakage Amounts, Increased Costs Under Note Purchase Agreement and Program Support Agreement and Withholding Taxes	  	34
	
	ARTICLE X
	THE AGENTS
			
	 SECTION 10.01.
	  	 Authorization and Action of Administrative Agent
	  	37
			
	 SECTION 10.02.
	  	 Authorization and Action of Managing Agents
	  	37
			
	 SECTION 10.03.
	  	 Agency Termination
	  	37
			
	 SECTION 10.04.
	  	 Agents’ Reliance, etc
	  	38
			
	 SECTION 10.05.
	  	 Administrative Agent, Managing Agents and Affiliates
	  	38
			
	 SECTION 10.06.
	  	 Indemnification
	  	38
			
	 SECTION 10.07.
	  	 Purchase Decision
	  	39
			
	 SECTION 10.08.
	  	 Successor Agents
	  	39
	
	ARTICLE XI
	MISCELLANEOUS
			
	 SECTION 11.01.
	  	 Amendments
	  	40
			
	 SECTION 11.02.
	  	 Notices
	  	40
			
	 SECTION 11.03.
	  	 No Waiver; Remedies
	  	40
			
	 SECTION 11.04.
	  	 Binding Effect; Participations, Etc
	  	41
			
	 SECTION 11.05.
	  	 Confidentiality
	  	41
			
	 SECTION 11.06.
	  	 GOVERNING LAW; JURISDICTION
	  	44
			
	 SECTION 11.07.
	  	 WAIVER OF JURY TRIAL
	  	45
			
	 SECTION 11.08.
	  	 No Proceedings
	  	45
			
	 SECTION 11.09.
	  	 Execution in Counterparts
	  	46
			
	 SECTION 11.10.
	  	 No Recourse
	  	46
			
	 SECTION 11.11.
	  	 Survival
	  	46
			
	 SECTION 11.12.
	  	 Tax Characterization
	  	47

  

 -iii- 

			
	 EXHIBIT A
	  	 Form of Notice of Advance

	 EXHIBIT B
	  	 Form of Investment Letter

	 EXHIBIT C
	  	 Form of Assignment and Acceptance

	 EXHIBIT D
	  	 Hedging Requirements

		
	 SCHEDULE I
	  	 Commitments

	 SCHEDULE II
	  	 Ownership Group Accounts

	 SCHEDULE III
	  	 Addresses for Notices

  
  

 iv 

 AMENDED AND RESTATED NOTE PURCHASE AGREEMENT (this “Note Purchase Agreement”) dated as
of October 22, 2003, among GOVERNMENT CONTRACT RECEIVABLES NOTE TRUST a Delaware business trust (the “Issuer”) ELECTRONIC DATA SYSTEMS CORPORATION, a Delaware corporation, as a Seller (“EDS”), EDS INFORMATION
SERVICES L.L.C., a Delaware limited liability company as the Servicer (the “Servicer”) and as a Seller (in such capacity, together with EDS, each a “Seller” and together, the “Sellers”), U.S. BANK
NATIONAL ASSOCIATION, a national banking association, as successor in interest to State Street Bank and Trust Company, a Massachusetts trust company, (the “Indenture Trustee”), the CONDUIT PURCHASERS, the COMMITTED PURCHASERS, the
MANAGING AGENTS and the ALTERNATE TRANSFEREES from time to time party hereto and CREDIT SUISSE FIRST BOSTON, NEW YORK BRANCH, as agent for the Managing Agents (the “Administrative Agent”). 
  
 This Note Purchase Agreement amends and restates in its entirety that certain
Note Purchase Agreement dated as of September 19, 2001 (as amended prior to the date hereof, the “Original Agreement”), among the Issuer, the Servicer, the Sellers, the Indenture Trustee, Alpine Securitization Corp., a Delaware
corporation, Credit Suisse First Boston, New York Branch, as agent for the Conduit Purchaser and the Alternate Transferees (in such capacity, the “Agent”) and Alternate Transferees from time to time party thereto. Upon the
effectiveness of this Note Purchase Agreement, the terms and provisions of the Original Agreement shall, subject to this paragraph, be superseded hereby in their entirety. Notwithstanding the amendment and restatement of the Original Agreement by
this Note Purchase Agreement, the Issuer, the Servicer and the Sellers shall continue to be liable to each of the other parties hereto with respect to all unpaid fees and expenses payable to any such party and all agreements to indemnify any such
party in connection with events or conditions arising or existing prior to the effective date of this Note Purchase Agreement. Upon the effectiveness of this Note Purchase Agreement, each reference to the Original Agreement in any other document,
instrument or agreement shall mean and be a reference to this Note Purchase Agreement. Nothing contained herein, unless expressly herein stated to the contrary, is intended to amend, modify or otherwise affect any other instrument, document or
agreement executed and or delivered in connection with the Original Agreement. 
  
 In addition to the responsibilities of EDS and/or EIS pursuant to this Agreement, EDS and/or EIS has certain obligations under the NMCI Contract, including the obligation to provide equipment to the NMCI Contract
Obligor. 
  
 The parties hereto agree as follows: 
  
 ARTICLE I 
  
 DEFINITIONS 
  
 SECTION 1.01. Certain Defined Terms. Unless otherwise indicated, capitalized terms used herein without definition shall have the meanings set forth
in Annex A to the Indenture (as defined below). Additionally, the following terms shall have the following meanings: 

 “Act” means the Securities Act of 1933 and the rules of the Securities and Exchange
Commission promulgated pursuant thereto. 
  
 “Additional
Amounts” means all amounts owed by the Issuer or the Servicer pursuant to Article IX plus any Breakage Amounts. 
  
 “Additional Interest” is defined in Section 2.06(b). 
  
 “Administrative Agent” is defined in the Preamble. 
  
 “Administrative Agent Fee” is the fee set forth in the
Administrative Agent Fee Letter. 
  
 “Administrative Agent
Fee Letter” means the amended and restated letter agreement dated as of October 22, 2003, among the Issuer, the Servicer, and the Administrative Agent setting forth certain fees payable by the Issuer and the Servicer in connection with the
administrative duties performed by the Administrative Agent for the benefit of the Managing Agents. 
  
 “Advance” means an advance of funds to the Issuer that will result in an increase in the aggregate outstanding principal balance of one
or more of the Notes outstanding at the time that advance is made in accordance with the provisions of Section 2.03. 
  
 “Advance Date” means the date on which an Advance occurs. 
  
 “Alternate Transferees” means ABN AMRO Bank N.V., Credit Suisse First Boston, New York Branch, Deutsche
Bank, AG, New York Branch and HSBC Bank USA and each of their successors and assigns (with respect to the rights in, and the commitment to make Advances under, the applicable Notes) that shall become a party to this Note Purchase Agreement pursuant
to Section 2.07(b). 
  
 “Applicable Funded
Share” means, at any time of determination with respect to any Ownership Group, a fraction, the numerator of which is the Outstanding Principal Balance of the Note of such Ownership Group at such time, and the denominator of which is the
sum of the Outstanding Amount of all Notes at such time. 
  
 “Applicable Pro Rata Share” means, at any time of determination with respect to any Ownership Group, a fraction, the numerator of which is the unused Group Purchase Limit of such Ownership Group at such time and the
denominator of which is the sum of the unused Group Purchase Limits for all Ownership Groups at such time. 
  
 “Assignment Amount” means, with respect to an Alternate Transferee and any Note, an amount equal to such Alternate Transferee’s
Percentage of the Outstanding Principal Balance of that Note on the date of determination. 
  
 “Assignment and Acceptance” means an assignment and acceptance agreement, substantially in the form of Exhibit C hereto, entered into by an Owner and a permitted assignee. 
  

 2 

 “Bank Funding Rate” means, with respect to any day, an interest rate per annum equal to
the sum of (a) LIBOR for such day plus (b) the Spread. 
  
 “Base Rate” means, for any day, a fluctuating interest rate per annum as shall be in effect from time to time, which rate shall be at all times equal to the higher of: 
  
 (a) (i) the rate of interest in effect for such day as
publicly announced from time to time by the applicable Alternate Transferee or Committed Purchaser (other than GECC) as its “reference rate,” which is a rate set by such Alternate Transferee or Committed Purchaser (other than GECC) based
upon various factors including such Alternate Transferee’s or Committed Purchaser’s costs and desired return, general economic conditions and other factors, and is used as a reference point for pricing some loans, which may be priced at,
above, or below such announced rate and (ii) with respect to GECC, the rate publicly quoted by The Wall Street Journal in its Money Rate section as the “Prime Rate” for such day (or if the date for determination of that rate is not
a day on which an edition of The Wall Street Journal is published, the rate quoted in the last edition published or, if The Wall Street Journal ceases quoting a case rate of the type described, the per annum rate of interest published
by the Federal Reserve Board in Federal Reserve statistical release H.15(519) entitled “Selected Interest Rates” as the “Bank prime loan” rate or its equivalent for the period in which such day falls); and 
  
 (b) 0.50% per annum above the latest Federal Funds Rate.

  
 “Breakage Amounts” is defined in Section
9.05(c). 
  
 “Closing” is defined in
Section 3.01. 
  
 “Commercial Paper”
means, with respect to any Conduit Purchaser, the commercial paper allocated by such Conduit Purchaser’s Managing Agent as the source of funding for the Note held by such Conduit Purchaser at any time. 
  
 “Commitment Termination Date” means, as to any Ownership
Group, the earlier of (a) October 19, 2004 unless the Administrative Agent provides written notice on behalf of such Ownership Group to the Servicer and the Issuer to extend the Commitment Termination Date as provided in Section 2.09 and (b)
the date that each Managing Agent shall have received in full pursuant to Section 8.4 of the Indenture the Clean-Up Call Price from the proceeds of a Clean-Up Call. 
  
 “Committed Purchaser” means General Electric Capital Corporation and each of its successors and assigns
(with respect to the rights in, and the commitment to make advances under, the applicable Notes) that shall become a party to this Note Purchase Agreement pursuant to Section 2.07(b). 
  
 “Committed Purchaser Funding Rate” means, with respect to any day, an interest rate per annum equal
to the Committed Purchaser’s LIBOR for such day, plus the Dealer Fee Rate. 
  
 “Committed Purchaser’s LIBOR” means, for the purposes of calculating interest and with respect to any day during any Interest Period, a rate per annum, to be reasonably determined by a

  

 3 

 Committed Purchaser equal to the rate per annum which appears on page 3750 on the Dow Jones Telerate Service, or such
other page as may replace page 3750 on that service (rounded up to the nearest 1/100 of 1%), for the purpose of displaying London interbank offered rates of major banks for deposits of Dollars, at or about 11:00 a.m. (London time) two London
Business Days prior to the first day of such Interest Period or other period, as applicable, for a period equal to such Interest Period or other period, as applicable, in an amount substantially equal to the amount of dollars to be funded. In the
event no rate is so posted, the Committed Purchaser will determine LIBOR on the basis of the rates at which U.S. Dollar deposits in London are offered by the Reference Banks at approximately 11:00 a.m. (London time) two London Business Days prior to
the first day of the relevant Interest Period or other period, as applicable, to major banks in the London interbank market for a period of one month commencing on the first Business Day of the relevant Interest Period in an amount substantially
equal to the amount of dollars to be funded. The Committed Purchaser will request the principal London office of each of the Reference Banks to provide a quotation of its rate. If at least two such quotations are provided, the rate will be the
arithmetic mean, rounded upward, if necessary, to the nearest 1/100,000 of 1% (0.0000001), with five one-millionths of a percentage point rounded upward, of all such quotations. If fewer than two such quotations are provided, the rate for that day
will be the arithmetic mean, rounded upward if necessary to the nearest 1/100,000 of 1% (0.0000001), with five one-millionths of a percentage point rounded upward, of the offered per annum rates that one or more leading banks in New York City,
selected by the Committed Purchaser, are quoting as of approximately 11:00 a.m., New York City time, on the first day of the related interest period, to leading European banks for United States dollar deposits for that maturity; provided that if the
banks selected as aforesaid are not quoting as mentioned in this sentence, LIBOR in effect for the applicable interest period will be LIBOR in effect for the previous interest period. As used herein, “Reference Banks” means four
major banks in the London interbank market selected by the Committed Purchaser and approved by the Servicer. 
  
 “Conduit Purchaser” means each of Alpine Securitization Corp., a Delaware corporation, Bryant Park Funding, LLC, a Delaware limited
liability company, Gramercy Capital Corporation, a Delaware corporation, Greenwich Funding Corporation, a Delaware corporation, Gemini Securitization Corp., a Delaware corporation, Amsterdam Funding Corporation, a Delaware corporation and any other
SPRC that purchases or funds an interest in a Note. 
  
 “CSFB” means Credit Suisse First Boston, New York Branch. 
  
 “Dealer Fee Rate” for any Managing Agent and its related SPRC(s) has the meaning set forth in the Fee Letter. 
  

“EDS” means Electronic Data Systems Corporation, a Delaware corporation. 
  
 “Eligible Transferee” means a commercial bank or other financial institution having a combined capital and
surplus of at least $250,000,000, or a commercial paper conduit administered by such a bank or financial institution or by an Affiliate of such a bank or financial institution. For avoidance of doubt, “Eligible Transferee” does not include
any insurance company, pension fund, retirement fund or other Person subject to regulation under the Employee Retirement Security Act of 1974, as amended, or any commercial bank or financial institution, any commercial paper conduit administered by
a commercial bank or financial 
  

 4 

 institution or any Affiliate of any such commercial bank or financial institution, a material portion of the business
operations of which is the provision of services similar to the services provided by a Seller or an Affiliate of the Sellers to its customers. 
  
 “Event of Default” is defined in Section 5.1 of the Indenture. 
  
 “Extension Response Date” is defined in Section 2.09. 
  
 “Facility Balance” means the sum of the aggregate
outstanding Principal Balance of all of the Notes. 
  
 “Federal Bankruptcy Code” means, as of any date of determination, the bankruptcy code of the United States of America codified in Title 11 of the United States Code. 
  
 “Federal Funds Rate” means, for any period, 
  
 (a) for any Owner in the ABN Ownership Group, the greater of
(a) the weighted average of the rates per annum, as determined by ABN, at which overnight Federal funds are offered to ABN for such day by major banks in the interbank market or (b) if ABN is borrowing overnight funds from a Federal Reserve Bank
that day, the weighted average of the rates per annum at which such overnight borrowings are made on that day (each such determination of the Federal Funds Rate by ABN shall be conclusive and binding except in the case of manifest error) and

  
 (b) for any other Owner, the per annum rate
set forth in the weekly statistical release designated as H. 15(519), or any successor publication, published by the Federal Reserve Board (including any such successor, “H. 15(519)”) for such day opposite the caption “Federal Funds
(Effective).” If on any relevant day such rate is not yet published in H. 15(519), the rate for such day will be the rate set forth in the daily statistical release designated as the Composite 3:30 p.m. Quotations for U.S. Government
Securities, or any successor publication, published by the Federal Reserve Bank of New York (including any such successor, the “Composite 3:30 p.m. Quotation”) for such day under the caption “Federal Funds Effective Rate.” If on
any relevant day the appropriate rate for such previous day is not yet published in either H. 15(519) or the Composite 3:30 p.m. Quotations, the rate for such day will be the arithmetic mean as determined by the Administrative Agent of the rates for
the last transaction in overnight Federal funds arranged prior to 9:00 a.m. (New York time) on that day by each of three leading brokers of Federal funds transactions in New York City selected by the Administrative Agent. 
  
 “Fee Letter” means the amended and restated letter agreement
dated as of October 22, 2003 among the Managing Agents on behalf of their respective Ownership Groups, the Issuer and the Servicer, setting forth certain fees payable by the Issuer and/or the Servicer. 
  
 “Funding Date” is defined in Section 3.01.

  

 5 

 “Funding Rate” means, with respect to any Note on any day during any Interest Period,
and as determined, in accordance with the following provisions, by each Managing Agent, 
  
 (a) to the extent such Note is funded on such day by an Owner which is an SPRC and is in the CSFB Ownership Group and such Owner is
funding such Note on such day through the issuance of commercial paper, a rate per annum (expressed as a percentage and an interest yield equivalent and calculated on the basis of a 360-day year) equal to the sum of the Dealer Fee Rate for such SPRC
plus LIBOR for such day; 
  
 (b) to the extent
such Note is funded on such day by an Owner which is an SPRC and is not in the CSFB Ownership Group and such Owner is funding such Note on such day through the issuance of commercial paper, a rate per annum equal to the per annum rate (expressed as
a percentage and an interest yield equivalent and calculated on the basis of a 360-day year) equivalent to the sum of the Dealer Fee Rate for such SPRC plus the weighted average of the per annum rates paid or payable by such SPRC from time to time
as interest on or otherwise (by means of interest rate hedges or otherwise) in respect of the commercial paper notes issued by such SPRC that are allocated, in whole or in part, by the applicable Managing Agent to fund the purchase or maintenance of
such Note or any Advance under such Note (and which may also be allocated in part to the funding of other assets of such SPRC) during such Interest Period as determined by the applicable Managing Agent and reported to the Servicer, which rates shall
reflect and give effect to (x) certain documentation and transaction costs associated with the issuance of such SPRC’s commercial paper, and (y) other borrowings by such SPRC (other than under any of such SPRC’s Program Support
Agreements), including borrowings to fund small or odd dollar amounts that are not easily accommodated in the commercial paper market to the extent such amounts are allocated, in whole or in part, to such Note by the applicable Managing Agent;
provided, that if any component of such rate is a discount rate, in calculating the “Funding Rate” for such day the applicable Managing Agent shall for such component use the rate resulting from converting such discount rate to an
interest bearing equivalent rate per annum; and 
  
 (c) to the extent (i) such Note is funded on such day by an Alternate Transferee or (ii) such Note is funded on such day by an Owner which is an SPRC, to the extent such SPRC is not funding such Note on such day through the issuance of
commercial paper, the greater of (A) a rate per annum (expressed as a percentage and an interest yield equivalent and calculated on the basis of a 360-day year) equal to the Bank Funding Rate, or, in the event, (w) the Bank Funding Rate cannot be
determined, (x) it shall become unlawful for that Alternate Transferee or any Program Support Provider for that Owner which is an SPRC to obtain funds in the London interbank market to fund or maintain any interest in such Note, (y) such funding
occurs without 3 London Business Days of notice to the Managing Agents from the Issuer and the Servicer pursuant to Section 2.03(a)(vii) or (z) that an assignment of any Note pursuant to Section 2.07(a) or a funding by any Program
Support Provider for the applicable SPRC occurs on a date other than the last date of an Interest Period, for the period commencing on the date of such assignment or funding and ending on, the date immediately preceding the first day of the next
succeeding Interest Period, a rate per annum (expressed as a percentage and an 
  

 6 

 interest yield equivalent and calculated on the basis of a 365-day year) equal to the Base Rate and (B)
the Base Rate (calculated on the basis of a 365-day year); 
  
 (d) to the extent such Note is funded on such day by a Committed Purchaser, a rate per annum (expressed as a percentage and an interest yield equivalent and calculated on the basis of a 360-day year) equal to the
Committed Purchaser Funding Rate, or, in the event the Committed Purchaser Funding Rate cannot be determined, (x) it shall become unlawful (or any central bank or a Governmental Authority shall assert it is unlawful) for the Committed Purchaser to
obtain funds in the London interbank market to fund or maintain any interest in such Note, (y) such funding occurs without 3 London Business Days of notice to the Managing Agents from the Issuer and the Servicer pursuant to Section
2.03(a)(vii) or (z) that an assignment of any Note pursuant to Section 2.07(b) occurs on a date other than the last date of an Interest Period, for the period commencing on the date of such assignment or funding and ending on, the date
immediately preceding the first day of the next succeeding Interest Period, a rate per annum (expressed as a percentage and an interest yield equivalent and calculated on the basis of a 365-day year) equal to the Base Rate; 
  
 provided, at any time when any Event of Default or Termination Event
has occurred and is continuing or event which with the giving of notice or passage of time or both could become an Event of Default or Termination Event, shall have occurred, the Funding Rate shall mean a rate per annum (expressed as a percentage
and an interest yield equivalent and calculated on the basis of a 365-day year) equal to the Base Rate plus 200 basis points. 
  
 “Governmental Actions” means any and all consents, approvals, permits, orders, authorizations, waivers, exceptions, variances, exemptions
or licenses of, or registrations, declarations or filings with, any Governmental Authority required under any Governmental Rules. 
  
 “Governmental Rules” means any and all laws, statutes, codes, rules, regulations, ordinances, orders, writs, decrees and injunctions, of
any Governmental Authority and any and all legally binding conditions, standards, prohibitions, requirements and judgments of any Governmental Authority. 
  
 “Group Purchase Limit” means, with respect to each Ownership Group and its related Note, the amount identified as such for that Ownership
Group in Schedule I, as Schedule I may be amended from time to time pursuant to this Agreement. 
  
 “Hedge Agreement” has the meaning specified in Exhibit D to this Note Purchase Agreement. 
  
 “Hedging Requirements” means the requirements described in
Exhibit D to this Note Purchase Agreement. 
  
 “Indemnified Party” means each Conduit Purchaser, each Alternate Transferee, each Committed Purchaser, each Managing Agent, the Administrative Agent, the Indenture Trustee, each Program Support Provider and each or any of
their respective officers, directors, employees, agents, representatives, assignees, successors, or Affiliates. 
  

 7 

 “Indenture” means the Amended and Restated Indenture dated as of October 22, 2003, among
the Issuer, EIS, as servicer, EDS, as a seller and as guarantor and Indenture Trustee, as indenture trustee, as the same may be amended, supplemented or otherwise modified from time to time. 
  
 “Indenture Trustee” means U.S. Bank National Association, as
successor in interest to State Street Bank and Trust Company, a Massachusetts trust company, and any successor Indenture Trustee under the Indenture. 
  
 “Initial Purchase Price” is defined in Section 2.02. 
  
 “Investment Letter” is defined in Section 6.03. 
  
 “Issuer” means Government Contract Receivables Note Trust, a
Delaware business trust. 
  
 “LIBOR” means, for
the purposes of calculating interest and with respect to any day during any Interest Period, a rate per annum, to be reasonably determined by the Administrative Agent, equal to the rate per annum which appears on page 3750 on the Dow Jones Telerate
Service, or such other page as may replace page 3750 on that service (rounded up to the nearest 1/100 of 1%), for the purpose of displaying London interbank offered rates of major banks for deposits of Dollars, at or about 11:00 a.m. (London time)
two London Business Days prior to the first day of such Interest Period or other period, as applicable, for a period equal to such Interest Period or other period, as applicable, in an amount substantially equal to the amount of dollars to be
funded. In the event no rate is so posted, the Administrative Agent will determine LIBOR on the basis of the rates at which U.S. Dollar deposits in London are offered by the Reference Banks at approximately 11:00 a.m. (London time) two London
Business Days prior to the first day of the relevant Interest Period or other period, as applicable, to major banks in the London interbank market for a period of one month commencing on the first Business Day of the relevant Interest Period in an
amount substantially equal to the amount of dollars to be funded. The Administrative Agent will request the principal London office of each of the Reference Banks to provide a quotation of its rate. If at least two such quotations are provided, the
rate will be the arithmetic mean, rounded upward, if necessary, to the nearest 1/100,000 of 1% (0.0000001), with five one-millionths of a percentage point rounded upward, of all such quotations. If fewer than two such quotations are provided, the
rate for that day will be the arithmetic mean, rounded upward if necessary to the nearest 1/100,000 of 1% (0.0000001), with five one-millionths of a percentage point rounded upward, of the offered per annum rates that one or more leading banks in
New York City, selected by the Administrative Agent, are quoting as of approximately 11:00 a.m., New York City time, on the first day of the related interest period, to leading European banks for United States dollar deposits for that maturity;
provided that if the banks selected as aforesaid are not quoting as mentioned in this sentence, LIBOR in effect for the applicable interest period will be LIBOR in effect for the previous interest period. As used herein, “Reference
Banks” means four major banks in the London interbank market selected by the Administrative Agent and approved by the Servicer. 
  
 “LIBOR Rate Reserve Percentage” means, for any Interest Period, a percentage (expressed as a decimal) equal to the daily average during
such Interest Period of the percentage in effect on each day of such Interest Period, as prescribed by the Board of Governors of the 
  

 8 

 Federal Reserve System (or any successor), for determining the aggregate maximum reserve requirements applicable to
“Eurocurrency Liabilities” pursuant to Regulation D or any other then applicable regulation of such Board of Governors which prescribes reserve requirements applicable to “Eurocurrency Liabilities” as presently defined in
Regulation D. 
  
 “Liquidity Fee” for any
Managing Agent and its related Ownership Group (including any Terminating Ownership Group), has the meaning, and shall be in the amounts calculated as, set forth in the Fee Letter. 
  
 “London Business Day” means any business day on which dealings in deposits in United States dollars are
transacted in the London interbank market. 
  
 “Losses” is defined in Section 9.01. 
  
 “Managing Agent” means, with respect to any Ownership Group, the Person acting as Managing Agent for such Ownership Group under this Note Purchase Agreement and initially means: 
  

	 	(a)	ABN AMRO Bank N.V., as Managing Agent for the ABN Ownership Group; 

  

	 	(b)	Credit Suisse First Boston, New York Branch, as Managing Agent for the CSFB Ownership Group; 

  

	 	(c)	Deutsche Bank, AG, New York Branch, as Managing Agent for the DB Ownership Group; 

  

	 	(d)	General Electric Capital Corporation, as Managing Agent for the GE Ownership Group; and 

  

	 	(e)	HSBC Securities (USA) Inc., as Managing Agent for the HSBC Ownership Group, 

  
 and each of their respective successors and assigns as to their related Ownership Groups, it is understood that there is only one Managing Agent for each
Ownership Group. 
  
 “Maximum Amount” means, as
to the Notes as a whole, $900,000,000 as such amount may be decreased from time to time in accordance with Section 2.04 and Section 2.09. 
  
 “Monthly Interest” is defined in Section 2.06. 
  
 “Non-Funding Conduit Purchaser” is defined in Section 2.03(b). 
  
 “Note” means each promissory note issued by the Issuer to
the Managing Agent, for the benefit of its related Ownership Group, pursuant to the Indenture. 
  
 “Note Initial Principal Amount” means, as to any Note outstanding immediately after Closing the amount specified in Schedule I to this Note Purchase Agreement and, as to any Note 
  

 9 

 issued after Closing, the amount of the initial Advance made with respect to such Note that is allocated to and funded
with respect to that Note. 
  
 “Note Interest
Rate” means, with respect to any Note and any day, a per annum rate equal to the Funding Rate for such Note for such day. 
  
 “Note Interest Shortfall” is defined in Section 2.06(b). 
  
 “Note Repurchase Price” at any time of determination, means the amount required to pay all Obligations in
full in cash at such time. 
  
 “Notice of
Advance” means a written notice of an Advance in the form of Exhibit A to this Note Purchase Agreement. 
  
 “Original Agreement” is defined in the first paragraph following the Preamble. 
  
 “Outstanding Principal Balance” means, with respect to any
Note at any time, the sum of (a) the Note Initial Principal Amount of such Note plus (b) the aggregate amount of all other Advances allocated to and funded with respect to such Note at or prior to such time, minus (c) all payments
received by the applicable Managing Agent pursuant to Section 8.4(b) of the Indenture and available to be applied to reduce the principal amount of such Note on or prior to such date; provided, that if such principal shall have been
reduced by any distribution and thereafter all or a portion of such distribution is rescinded or must otherwise be returned for any reason, such principal shall be increased by the amount of such rescinded or returned distribution, as though it had
not been made. 
  
 “Owner Trustee” means The Bank
of New York (Delaware). 
  
 “Owners” means the
Conduit Purchasers, the Committed Purchasers and the Alternate Transferees. 
  
 “Ownership Group” means each of the following groups composed of either (a) Conduit Purchasers, Alternate Transferees and SPRCs or (b) one or more Committed Purchasers: 
  

	 	(a)	Amsterdam Funding Corporation, ABN AMRO Bank N.V. (“ABN”) and any SPRC administered by ABN or any of its Affiliates (the “ABN Ownership Group”);

  

	 	(b)	Alpine Securitization Corp., Gramercy Capital Corporation, Greenwich Funding Corporation, CSFB, and any SPRC administered by CSFB or any of its Affiliates (the “CSFB
Ownership Group”); 

  

	 	(c)	Gemini Securitization Corp., Deutsche Bank, AG, New York Branch (“DB”) and any SPRC administered by DB or any of its Affiliates (the “DB Ownership
Group”); 

  

	 	(d)	General Electric Capital Corporation (“GE”) (the “GE Ownership Group”); and 

  

 10 

 (e) Bryant Park Funding LLC, HSBC Bank USA (“HSBC”) and any SPRC
administered by HSBC Securities (USA) Inc. or any of its Affiliates (the “HSBC Ownership Group”); 
  
 By way of example and for avoidance of doubt, each of the groups in clauses (a)–(e) above, is a separate Ownership Group. 
  
 “Participant” is defined in Section 11.04(b).

  
 “Percentage” means, (a) for any Alternate
Transferee or Committed Purchaser, as applicable listed on the signature pages hereto, the percentage set forth under the signature of such Alternate Transferee or Committed Purchaser, as applicable, on the signature pages to this Note Purchase
Agreement, as such percentage may be reduced or otherwise adjusted by any Assignment and Acceptance entered into by such Alternate Transferee or Committed Purchaser, as applicable, or (b) with respect to any Owner that becomes a party hereto
pursuant to an Assignment and Acceptance, the percentage set forth therein, as such percentage may be reduced or otherwise adjusted by any Assignment and Acceptance entered into by such Owner and a subsequent Owner. 
  
 “Program Support Agreement” means any agreement entered into
by any Program Support Provider providing for the issuance of one or more letters of credit for the account of any Conduit Purchaser, the issuance of one or more surety bonds for which any Conduit Purchaser is obligated to reimburse the applicable
Program Support Provider for any drawings thereunder, the sale by any Conduit Purchaser to any Program Support Provider of the applicable Note (or any interest therein or in any portions thereof) and/or the making of loans and/or other extensions of
credit to any Conduit Purchaser in connection with such Conduit Purchaser’s securitization program (whether for liquidity or credit enhancement support), together with any letter of credit, surety bond or other instrument issued thereunder.

  
 “Program Support Provider” means and includes
any Person now or hereafter extending credit, or having a commitment to extend credit to or for the account of, or to make purchases from, any Conduit Purchaser or issuing a letter of credit, surety bond or other instrument to support any
obligations arising under or in connection with such Conduit Purchaser’s securitization program. 
  
 “Rate Cap Agreement” has the meaning given in the Exhibit D to this Note Purchase Agreement. 
  
 “Required Noteholders” means (a) the Owners funding at least
72% of the Outstanding Principal Balance of the Notes; provided, however, that any Note held by EDS, EIS or any Affiliate thereof shall be excluded when calculating Required Noteholders and (b) more than 50% of the Managing Agents. 
  
 “Securitization Transfer Price” means an amount determined
and specified by the Servicer, and set forth in the written notice referred to in Section 2.9 of the Sale and Servicing Agreement, which amount consists of a stated principal amount of Notes to be specially repaid on the Business Day
specified in such written notice, together with accrued and unpaid interest 
  

 11 

 thereon at the applicable Note Interest Rates to the date of repayment, together with related Breakage Amounts and any
other amounts then due under this Note Purchase Agreement. 
  
 “SPRC” means a special purpose company or other special purpose entity administered by a Managing Agent or an Affiliate thereof which obtains funding from the issuance of commercial paper and/or other debt securities.

  
 “Spread” means 0.75% per annum. 

 
 “Strike Interest Rate” has the meaning given in the
Exhibit D to this Note Purchase Agreement. 
  
 “Terminating Ownership Group” is defined in Section 2.09. 
  
 “Third Party Claim” is defined in Section 9.02. 
  
 Other Definitional Provisions. All terms defined in this Note Purchase Agreement shall have the defined meanings when used in any certificate or
other document delivered pursuant hereto unless otherwise defined therein. For purposes of this Note Purchase Agreement and all such certificates and other documents, unless the context otherwise requires: (a) accounting terms not otherwise defined
in this Note Purchase Agreement, and accounting terms partly defined in this Note Purchase Agreement to the extent not defined, shall have the respective meanings given to them under generally accepted accounting principles; (b) references to any
amount as on deposit or outstanding on any particular date means such amount at the close of business on such day; (c) references to any agreement refer to that agreement as the same may be amended, extended, renewed, amended, supplemented and
restated or otherwise modified in accordance with its terms from the date hereof; (d) the words “hereof,” “herein” and “hereunder” and words of similar import refer to this Note Purchase Agreement (or the certificate or
other document in which they are used) as a whole and not to any particular provision of this Note Purchase Agreement; (e) references to any Article, Section, Schedule or Exhibit are references to Articles, Sections, Schedules and Exhibits in or to
this Agreement (or the certificate or other document in which the reference is made), and references to any paragraph, subsection, clause or other subdivision within any Section or definition refer to such paragraph, subsection, clause or other
subdivision of such Section or definition in this Note Purchase Agreement (or the certificate or other document in which they are used); (f) the term “including” means “including without limitation”; (g) references to any law or
regulation refer to that law or regulation as amended from time to time and include any successor law or regulation; (h) references to any Person include that Person’s successors and assigns; (i) headings are for purposes of reference only and
shall not otherwise affect the meaning or interpretation of any provision hereof; (j) the singular number includes the plural numbers and vice versa; and (k) reference to any gender includes a reference to the other gender. 
  
 ARTICLE II 
  
 PURCHASE AND SALE 
  
 SECTION 2.01. Purchase and Sale of the Notes. (a) On the terms and subject to the conditions set forth in this Note Purchase Agreement, and in
reliance on the covenants, 
  

 12 

 representations, warranties and agreements herein set forth, the Issuer (x) may offer to sell to each Managing Agent, on
behalf of its respective Conduit Purchaser(s), and the Conduit Purchaser(s), through its Managing Agent, may elect to purchase or (y) may offer to sell to each Managing Agent of any Ownership Group comprising only Committed Purchasers, on behalf of
its respective Committed Purchaser(s), and the Committed Purchaser(s), through its Managing Agent shall purchase at the Funding Date a Note, which Note shall be purchased for a purchase price equal to the Note Initial Principal Amount for that Note.

  
 (b) On the terms and subject to the conditions set forth in
this Note Purchase Agreement, and in reliance on the covenants, representations, warranties and agreements herein set forth, if any Conduit Purchaser chooses not to purchase (through its Managing Agent) the Note offered to that Conduit Purchaser
pursuant to Section 2.01(a), the Alternate Transferee(s) in such Conduit Purchaser’s Ownership Group shall purchase, through the related Managing Agent, at the Closing such Note for a purchase price equal to its Percentage (allocable to such
Conduit Purchaser by the Managing Agent if there is more than one SPRC in the related Ownership Group) of the Note Initial Principal Amount of the Note related to its Ownership Group. 
  
 (c) On the Funding Date, the Notes shall be issued for each Ownership Group in the name of such Ownership Group’s
Managing Agent and in a maximum principal amount equal to such Ownership Group’s Group Purchase Limit. The Notes shall be issued in typewritten form, executed by an authorized officer of the Issuer. The Administrative Agent (as to each
Ownership Group) and each Managing Agent (as to each Owner in its related Ownership Group) shall record any subsequent increases and decreases to each Ownership Group’s Group Purchase Limit. Such increases and decreases shall be accounted for
pro rata among the Ownership Groups and, in the event a discrepancy exists between the records of the Administrative Agent and a Managing Agent, the Administrative Agent’s records shall control. 
  
 SECTION 2.02. Initial Purchase Price. Each Note is to be purchased at
a price (the “Initial Purchase Price”) of 100% of its Note Initial Principal Amount. 
  
 SECTION 2.03. Advances. 
  
 (a) Each Managing Agent severally agrees, on behalf of its Ownership Group, to make Advances in respect of Equipment Receivables and related items of
Subject Equipment, in each case pro rata based on the respective Applicable Pro Rata Share of its related Ownership Group from time to time until the Commitment Termination Date upon satisfaction, as of the applicable Advance Date and after giving
effect to such Advances of each of the following conditions: 
  
 (i) The Administrative Agent and each Managing Agent shall have received copies of all reports and other items required to be delivered by the Servicer to the Indenture Trustee pursuant to Article VII of the
Indenture; 
  
 (ii) Each of the representations
and warranties made by the Sellers pursuant to Section 2.4 and Section 2.5 of the Sale and Servicing Agreement and each of the representations and warranties made by the Servicer pursuant to Section 3.4 of the Sale and Servicing
Agreement shall be true and correct as of the 
  

 13 

 related Advance Date (including the representation made thereunder as to perfecting a security interest
in the Contract Payments as set forth in clause (i) of the definition of Eligible Asset), and the Sellers and the Servicer shall have performed in all material respects all obligations to be performed by it under the Sale and Servicing Agreement on
or prior to such Advance Date; 
  
 (iii) Each of
the representations and warranties made by the Issuer pursuant to Article III of the Indenture shall be true and correct as of the related Advance Date; 
  

(iv) No event has occurred and is continuing, or would result from such Advance on such Advance Date, that constitutes a Termination
Event, Event of Default or a Rapid Amortization Event; 
  
 (v) (a) The aggregate Outstanding Principal Balance of the Note related to such Managing Agent’s Ownership Group will not exceed the Group Purchase Limit of that Ownership Group and (b) the Facility Balance will not exceed the lesser
of the Maximum Amount and the Borrowing Base (in either case, after giving effect to such Advance); 
  
 (vi) The aggregate value of the Contract Payments assigned to the Issuer since the Funding Date is greater than $5,000,000; 
  
 (vii) At least three Business Days prior to the Advance Date
and not later than 3:00 p.m., New York City time, the Administrative Agent and each Managing Agent shall have received a completed Notice of Advance from the Issuer and the Servicer; 
  
 (viii) The Commitment Termination Date as to the Ownership Group related to such Managing Agent shall not
have occurred; 
  
 (ix) The conditions to
effectiveness of, transfers pursuant to, and issuance of the Note under, the Transaction Documents as set forth therein shall have been satisfied; 
  
 (x) Immediately after giving effect to the requested Advance, each of the Hedging Requirements will be satisfied; 
  
 (xi) All of the fees due and payable pursuant to the
Administrative Fee Letter and the Fee Letter have been paid; and 
  
 (xii) the Guaranty is in force and EDS shall not have challenged the effectiveness of, or the enforceability of, any provision of the Guaranty. 
  
 Subject to the foregoing conditions, in the event that a Conduit Purchaser elects not to make an Advance, the Alternate
Transferee or Alternate Transferees in such Conduit Purchaser’s Ownership Group severally agree to make the respective Percentage (allocable to such Conduit Purchaser by the Managing Agent if there is more than one SPRC in the related Ownership

  

 14 

 Group) of the Applicable Pro Rata Share of such Advance (provided that no Alternate Transferee shall be required to make
a portion of any Advance if, after giving effect thereto, its Percentage of the Outstanding Principal Balance of the related Note would exceed its applicable Percentage of the Group Purchase Limit allocated to the related Note). 
  
 Each Alternate Transferee’s or Committed Purchaser’s, as
applicable, obligation hereunder shall be several, such that the failure of any Alternate Transferee or Committed Purchaser, as applicable, within an Ownership Group to make its Advance shall not relieve any other Alternate Transferee or Committed
Purchaser, as applicable, within such Ownership Group (or any other Ownership Group) of its obligation hereunder to make its Advance. For the avoidance of doubt, no Ownership Group or any member or members thereof shall have any obligation to
perform or discharge, or any liability for, the obligations of any other Ownership Group or any member or members thereof except to the extent that such obligations shall be assumed in accordance with the terms of this Note Purchase Agreement.

  
 Further, in the event an Alternate Transferee fails to satisfy
its obligation to make available its respective Percentage of the Applicable Pro Rata Share of such Advance as required hereunder upon receipt of notice of such failure from the related Managing Agent, the non-defaulting Alternate Transferees, if
any, who are in the same Ownership Group as the defaulting Alternate Transferee shall make the defaulting Alternate Transferee’s Percentage of the Applicable Pro Rata Share of such Advance pro rata in proportion to their relative Percentages
(determined without regard to the Percentage of the defaulting Alternate Transferee) (provided that no Alternate Transferee shall be required to make a portion of any Advance if, after giving effect thereto, its Percentage of the Outstanding
Principal Balance of the related Note would exceed its applicable Percentage of the Group Purchase Limit allocated to the related Note). The defaulting Alternate Transferee shall on the next Business Day following the date of such Advance make such
amounts available to the applicable Alternate Transferees, together with interest at the Funding Rate for each day during such period. 
  
 (b) In the event any Conduit Purchaser elects not to make the portion of an Advance it was requested to fund, the Servicer may (with the prior written
consent of one or more other Conduit Purchasers and each member of each such willing Conduit Purchaser’s Ownership Group) request each Conduit Purchaser so electing (a “Non-Funding Conduit Purchaser”) and its Ownership Group to
assign all, but not less than all, of the Outstanding Principal Balance of its Note and its related commitments hereunder to such willing Conduit Purchaser(s) and its or their related Ownership Group(s), all at the expense of the Servicer. Each such
willing Conduit Purchaser may (at the election of the related Ownership Group) do one or a combination of the following (provided that the actions taken pursuant to the following clauses (x) and (y) by all such willing Ownership Groups in the
aggregate shall result in an assignment of the entire Outstanding Principal Balance of the Note of the Non-Funding Conduit Purchaser’s Ownership Group): (x) purchase such Outstanding Principal Balance (or the portion thereof which such
Ownership Group has agreed to so acquire) by making an Advance hereunder for all or any portion of such amount (which the Issuer and the Servicer hereby irrevocably authorize and direct) in which case such assignment shall be a utilization of the
related Ownership Group’s available Group Purchase Limit and shall not result in an increase in the Group Purchase Limit of such Ownership Group, and/or (y) increase its related Group Purchase Limit by the amount of the Outstanding Principal
Balance of such Note (or the portion thereof which such Ownership 
  

 15 

 Group has agreed to so acquire) and any portion of the Group Purchase Limit so assigned, in which case such assignment
shall not be a utilization of the related Ownership Group’s available Group Purchase Limit and shall result in an increase in the Group Purchase Limit of such Ownership Group. Upon such an assignment (or assignments, as applicable) the
Non-Funding Conduit Purchaser’s Group Purchase Limit shall be reduced to zero, and (i) to the extent described in clause (y) of the preceding sentence, the Group Purchase Limit of each willing Ownership Group shall be increased; (ii) each such
willing Conduit Purchaser shall, on the date of such assignment, pay to the Managing Agent for the related Non-Funding Conduit Purchaser, an amount equal to the Outstanding Principal Balance of the Note of such Non-Funding Conduit Purchaser’s
Ownership Group (or the portion thereof which such Ownership Group has agreed to acquire); (iii) the Maximum Amount shall be reduced by an amount equal to the amount of the aggregate of the amounts described in clause (x) above for each willing
Conduit Purchaser and its related Ownership Group; and (iv) the Applicable Pro Rata Shares of each remaining Ownership Group shall be adjusted accordingly. 
  
 In each such event the Managing Agent for the Non-Funding Conduit Purchaser and its Ownership Group, as assignor, shall deliver to the Managing Agent for
each willing Conduit Purchaser’s Ownership Group, as assignee, an Assignment and Acceptance, duly executed, assigning to the assignee the applicable portion of such assignor’s rights and obligations hereunder and under its related Note,
and the assignor shall promptly execute and deliver all further instruments and documents, and take all further action, that the assignee may reasonably request, in order to protect, or more fully evidence the assignee’s right, title and
interest in and to such Note and to enable the Administrative Agent and, to the extent provided herein, the related Managing Agent on behalf of such assignee, to exercise or enforce any rights hereunder and under the other Transaction Documents to
which such assignor is or, immediately prior to such assignment, was a party. 
  
 Upon any assignment pursuant to this Section 2.03, (i) the assignee shall have all of the rights and obligations of the assignor hereunder and under the other Transaction Documents for all purposes of this Note
Purchase Agreement and under the other Transaction Documents (it being understood that the Alternate Transferees, as assignees, shall be obligated to fund Advances under Section 2.03 in accordance with the terms thereof, notwithstanding that
the Conduit Purchasers are permitted to elect not to make Advances) and (ii) the assignor shall relinquish its rights for all purposes of this Note Purchase Agreement and under the other Transaction Documents. On the date of such assignment pursuant
to Section 8.4 of the Indenture, the Issuer and the Servicer shall pay to the Managing Agent for the Ownership Group of the Non-Funding Conduit Purchaser all accrued interest, fees and all other amounts owing hereunder (including Breakage
Amounts and other Additional Amounts) in accordance with Section 2.07(f) accruing or payable through the date of the assignment and then unpaid, and the assignee shall be entitled to interest and fees with respect to the assigned Note only
from and after the date of assignment. No such assignment shall be effective unless a fully executed copy of the related Assignment and Acceptance shall be delivered to the Administrative Agent and the related Managing Agent. 
  
 (c) Each Advance shall be requested, not more than four times during a
calendar month, in a principal amount of $1,000,000 per Ownership Group and integral multiples of $100,000 in excess thereof; provided, that an Advance may be requested in such lesser amount 
  

 16 

 such that the portion thereto allocable to any Ownership Group equals the entire remaining amount available under such
Ownership Group’s Group Purchase Limit. Advances shall be allocated among the various Notes on a pro rata basis per Ownership Group based on their respective Applicable Pro Rata Shares. No Advance shall be made on either of the two Business
Days preceding a Distribution Date. 
  
 (d) No Managing Agent, on
behalf of its Ownership Group, shall be required to make that portion of its Applicable Pro Rata Share of an Advance if, after giving effect to the funding of that portion, the related aggregate Outstanding Principal Balance of such Ownership
Group’s Note will exceed the related Group Purchase Limit. 
  
 Each Managing Agent, on behalf of its Ownership Group, shall wire its Applicable Pro Rata Share of an Advance in immediately available funds not later than 1:00 p.m. New York City time on the Advance Date to the Administrative Agent’s
account no. 890-039-2770 ABA 021-000-018, Attention: Conduit Remittance Account, re: EDS, maintained at the Bank of New York (or such other account as may from time to time be specified by the Issuer in a notice to the Administrative Agent).

  
 The Administrative Agent shall wire the proceeds of each
Advance it receives by 1:00 p.m. in immediately available funds not later than 4:00 p.m. New York City time on the Advance Date to the Issuer’s account no. 173103321050, ABA 091-000-022, Attention: S. Merker-Corp. Tr. Services Hartford, re:
EDS, maintained at U.S. Bank National Association (or such other account as may from time to time be specified by the Issuer in a notice to the Administrative Agent). 
  
 (e) Subject to the terms and provisions of this Note Purchase Agreement, the Issuer may borrow by means of obtaining
Advances hereunder, repay the amounts advanced hereunder in accordance with the Indenture and reborrow by means of obtaining new Advances hereunder. 
  
 (f) The Issuer shall notify the Indenture Trustee of the Note Initial Principal Amount of the Note related to each Ownership Group and the amount of
Advances funded by each Managing Agent. 
  
 SECTION 2.04.
Reduction of Maximum Amount or the Group Purchase Limit. The Issuer and the Servicer may reduce in whole or in part the Maximum Amount and the unused Group Purchase Limits of the Ownership Groups (but not below the related Outstanding
Principal Balance at such time) by giving the Administrative Agent and the Managing Agents written notice thereof at least five Business Days before such reduction is to take place; provided, that any partial reduction shall be in an amount
of $10,000,000, or any integral multiples of $1,000,000 in excess thereof. Reductions of the respective Group Purchase Limits shall be made on a pro rata basis. For the avoidance of doubt, nothing in this section or in the Note Purchase Agreement
permits either the Issuer or the Servicer at its discretion to prepay any portion of this facility. 
  
 SECTION 2.05. Calculation of the Note Interest Rates. 
  
 (a) On the third Business Day preceding each Determination Date, (i) each Managing Agent shall calculate the Note Interest Rate applicable to the Notes
for each day in the related 
  

 17 

 Interest Period and (ii) such Managing Agent shall notify the Servicer and the Indenture Trustee of such rates and amount
of interest to be accrued and payable on the Distribution Date as to which the notice is given (the Note Interest Rate for any Interest Period shall be calculated using an estimate of the applicable Funding Rate, if necessary, for the remaining days
in such Interest Period); provided, that each such applicable rate calculation shall be adjusted as provided in Section 2.05(b). 
  
 (b) On the second Business Day following each Distribution Date, if any Managing Agent shall have used an estimate of a Funding Rate to determine the Note
Interest Rate for the applicable Note pursuant to Section 2.05(a) with respect to the preceding Interest Period (or any day therein), such Managing Agent shall compute the actual applicable Funding Rate for such Interest Period (or such day),
and (i) if the actual applicable Note Interest Rate so computed results in an amount of interest which is greater than the interest amount determined with the estimated applicable Funding Rate for such preceding Interest Period (or such day), the
applicable Funding Rate calculated pursuant to Section 2.05(a) for the current Interest Period (or day) shall be increased so that the amount of interest accruing in the current Interest Period shall equal (A) the amount by which interest was
underpaid in the preceding Interest Period plus (B) the amount of interest that would accrue at the applicable Funding Rate for the current Interest Period if no increase of the type described in this clause (i) occurred, and (ii) if the actual
applicable Funding Rate so computed results in an amount of interest which is less than the interest amount determined with the applicable Funding Rate for such preceding Interest Period (or such day), the applicable Note Interest Rate calculated
pursuant to Section 2.05(a) for the current Interest Period shall be decreased so that the amount of interest accruing in the current Interest Period shall equal (A) the amount of interest that would accrue at the applicable Funding Rate for
the current Interest Period if no decrease of the type described in this clause (ii) occurred minus (B) the amount by which interest was overpaid in the preceding Interest Period. 
  
 (c) If the Outstanding Principal Balance of the Note of any Ownership Group shall have increased during any Interest Period
as a result of the funding of any portion of an Advance by such Ownership Group during such Interest Period, and such increase was not reflected in the amount of Monthly Interest (as defined in Section 2.06) paid with respect to the related
Note on the Distribution Date following such Interest Period, the Managing Agent for such Ownership Group shall, on or before 2 Business Days following such Distribution Date, provide the Servicer with notice of the amount of any additional Monthly
Interest payable as a result of such increase (such additional amount to be calculated using the actual Funding Rate applicable to the preceding Interest Period (or day) as determined pursuant to clause (a) or clause (b) above, as applicable), and
the Monthly Interest payable on the Distribution Date for the current Interest Period shall be increased to reflect such additional amount. 
  
 SECTION 2.06. Calculation and Payment of Monthly Interest, Liquidity Fee and Fees. 
  
 (a) The amount of interest (“Monthly Interest”) distributable from the Operations Account and due and
payable with respect to each Note on any Distribution Date shall be calculated by each Managing Agent and shall be an amount equal to the sum, for each day in the related Interest Period, of the product of (A) the Note Interest Rate in effect with
respect to such Note for such day, (B) the principal balance of the Note on such day and (C) a fraction the numerator of which is 1 and the denominator of which is 360 (provided that the denominator 
  

 18 

 shall be 365 or 366, as applicable, to the extent the Note Interest Rate is calculated by reference to the Base Rate).
Such Monthly Interest shall be payable in arrears at the end of each Interest Period on the related Distribution Date, provided that such interest rate shall not at any time exceed the maximum rate permitted by applicable law. In addition,
the Administration Fee shall be distributable to the Administrative Agent from amounts on deposit in the Operations Accounts as provided in the Indenture on each anniversary of the Funding Date and the Liquidity Fee shall be distributable to each
Managing Agent from amounts on deposit in the Operations Account as provided in the Indenture on each Distribution Date and as otherwise provided in the Fee Letter. 
  
 (b) On the Determination Date preceding each Distribution Date, the Servicer shall determine the excess, if any (the
“Note Interest Shortfall”), of (x) the Monthly Interest for such Distribution Date over (y) the aggregate amount of funds allocated and available to pay such Monthly Interest on such Distribution Date. If the Note Interest
Shortfall for any Distribution Date is greater than zero, on each subsequent Distribution Date until such Note Interest Shortfall is fully paid, an additional amount (“Additional Interest”) equal to the product of (i) (A) a
fraction, the numerator of which is the actual number of days in the related Interest Period and the denominator of which is 360, times (B) the weighted average of the Note Interest Rates in effect with respect to each day of the related Interest
Period and (ii) such Note Interest Shortfall (or the portion thereof which has not been paid to the holders of the Notes) shall be payable as provided herein with respect to the Notes. Notwithstanding anything to the contrary herein, Additional
Interest shall be payable or distributed to the Holders of the Notes only to the extent permitted by applicable law. 
  
 (c) Each of the Servicer and the Issuer agrees to pay all amounts payable by it with respect to the Notes and each Owner, to the accounts listed on
Schedule II, each maintained by the applicable Managing Agent (or such other account as may from time to time be specified by any Managing Agent in a notice to the Issuer). 
  
 SECTION 2.07. Assignment to Alternate Transferees, Program Support Providers and SPRCs. 
  
 (a) Alternate Transferee Commitment. At any time on or prior to the
Commitment Termination Date if any Conduit Purchaser so elects, by written notice to the Administrative Agent and its Managing Agent, such Conduit Purchaser will assign its interest at such time, if any, in the related Note in whole to the Alternate
Transferees in its Ownership Group pursuant to this Section 2.07. Upon receipt of such notice, the Administrative Agent shall immediately notify the Servicer, the Issuer and the Indenture Trustee of such election. Upon any such election by
any Conduit Purchaser, such Conduit Purchaser shall make such assignment and its related Alternate Transferees shall accept such assignment and shall assume all of such Conduit Purchaser’s interests at such time in such Note. In connection with
any assignment from a Conduit Purchaser to an Alternate Transferee pursuant to this Section 2.07, such Alternate Transferee shall, on the date of such assignment, pay to its related Managing Agent, for the account of its related Conduit
Purchaser, an amount which (together with all other assignment proceeds paid by such Alternate Transferee pursuant to this Section 2.07(a) prior to such date) equals its Assignment Amount. Nothing herein shall prevent a Conduit Purchaser from
making a 
  

 19 

 subsequent Advance hereunder following any assignment pursuant to this Section 2.07 or from making more than one
assignment pursuant to this Section 2.07. 
  
 (b)
Assignment to Eligible Transferees. Any Alternate Transferee or Committed Purchaser, as applicable, upon two Business Days prior notice to the Issuer and the Servicer (so long as no Termination Event or Event of Default has occurred and is
continuing) subject to the prior written consent of its Managing Agent, may assign all or any portion of its interest at such time, if any, in the applicable Note and the Group Purchase Limit of its Ownership Group and its rights and obligations
hereunder to any Eligible Transferee in accordance with Section 8.02; provided, however, that no such assignment of less than all of any Alternate Transferee’s or Committed Purchaser, as applicable, interest shall be made with respect to
any such Note or the Group Purchase Limit of its Ownership Group if the amount of the Group Purchase Limit assigned would be less than $10,000,000. In the case of an assignment by an Alternate Transferee or Committed Purchaser, as applicable,
to another Eligible Transferee, the assignor shall deliver to the assignee(s) an Assignment and Acceptance, duly executed, assigning to the assignee a pro rata interest in the assignor’s rights and obligations hereunder and under its related
Note and the assignor shall promptly execute and deliver all further instruments and documents and take any further action that the assignee may reasonably request in order to protect or more fully evidence the assignee’s right, title and
interest in and to such interest and to enable the Administrative Agent and the related Managing Agent, on behalf of such assignee, to exercise or enforce any rights hereunder and under the other Transaction Documents to which such assignor is or,
immediately prior to such assignment, was a party. Upon any such assignment, (i) such assignee shall be an Alternate Transferee or Committed Purchaser, as applicable, for all purposes of this Note Purchase Agreement and shall become a member of the
assigning Alternate Transferee’s or Committed Purchaser’s, as applicable, Ownership Group, (ii) the assignee shall have all of the rights and obligations of the assignor hereunder and under the other Transaction Documents with respect to
the interest assigned for all purposes of this Note Purchase Agreement and under the other Transaction Documents (it being understood that the Alternate Transferees and Committed Purchasers, as assignees, shall be obligated to fund Advances under
Section 2.03 in accordance with the terms thereof, notwithstanding that the Conduit Purchasers are permitted to elect not to make Advances) and (iii) to the extent of the interests assigned, the assignor shall relinquish its rights and be
released from its obligations under this Note Purchase Agreement and under the other Transaction Documents. No such assignment shall be effective unless a fully executed copy of the related Assignment and Acceptance shall be delivered to the
Administrative Agent and the related Managing Agent. All costs and expenses of the Administrative Agent and the assignor incurred in connection with any assignment hereunder shall be borne by the assignor. 
  
 (c) Effects of Assignment. By executing and delivering an Assignment
and Acceptance, the assignor and assignee thereunder confirm to and agree with each other and the other parties hereto as follows: (i) other than as provided in such Assignment and Acceptance, the assignor makes no representation or warranty and
assumes no responsibility with respect to any statements, warranties or representations made in or in connection with this Note Purchase Agreement, the other Transaction Documents or any other instrument or document furnished pursuant hereto or
thereto or the execution, legality, validity, enforceability, genuineness, sufficiency or value or this Note Purchase Agreement, the other Transaction Documents or any such other instrument or document; (ii) the assignor makes no representation or
warranty and 
  

 20 

 assumes no responsibility with respect to the financial condition of the Issuer or the Servicer or the performance or
observance by the Issuer or the Servicer of any of their respective obligations under this Note Purchase Agreement, the other Transaction Documents or any other instrument or document furnished pursuant hereto; (iii) such assignee confirms that it
has received a copy of this Note Purchase Agreement and each other Transaction Document and such other instruments, documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into an Assignment and
Acceptance and to purchase an interest; (iv) such assignee will, independently and without reliance upon the assignor, or the Administrative Agent or any of its Affiliates, or the related Managing Agent or any of its Affiliates and based on such
agreements, documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under this Note Purchase Agreement and the other Transaction Documents; (v) such assignee
appoints and authorizes the Administrative Agent and its related Managing Agent to take such action as agent on its behalf and to exercise such powers under this Note Purchase Agreement, the other Transaction Documents and any other instrument or
document furnished pursuant hereto or thereto as are delegated to the Administrative Agent or such Managing Agent, as applicable, by the terms hereof or thereof, together with such powers as are reasonably incidental thereto and to enforce its
respective rights and interests in and under this Note Purchase Agreement and the other Transaction Documents; (vi) such assignee agrees that it shall perform in accordance with their terms all of the obligations which by the terms of this Note
Purchase Agreement and the other Transaction Documents are required to be performed by it as the assignee of the assignor; and (vii) such assignee agrees that it will not institute against its related Conduit Purchaser, if any, any proceeding of the
type referred to in Section 11.08 prior to the date which is one year and one day after the payment in full of all commercial paper issued by such Conduit Purchaser(s). 
  
 (d) Assignment to Program Support Providers. Notwithstanding any provision herein or in any other Transaction
Document to the contrary at any time, if any Conduit Purchaser so elects, such Conduit Purchaser may from time to time assign its interest in the related Note of which it is the beneficial owner in whole or in part or may from time to time assign an
undivided interest in or sell a participation in a Note of which it is the beneficial owner, to any of its Program Support Providers in accordance with the terms of the applicable Program Support Agreement; provided, however, that in
the case of any such assignment of legal title in a related Note (as opposed to an assignment of an undivided interest in or a sale of a participation in the related Note) to a Program Support Provider pursuant to a Program Support Agreement which
provides liquidity support (as opposed to credit enhancement) which is specific to the Note and the Transaction Documents (as opposed to program level liquidity for the Conduit Purchaser) to the applicable Conduit Purchaser, such Program Support
Provider shall be any member of the related Ownership Group, an Affiliate of any such member, or such other Person which becomes a Program Support Provider for such Conduit Purchaser. The Conduit Purchaser must notify the Administrative Agent of
such election and upon receipt of such notice the Administrative Agent shall immediately notify the Indenture Trustee of such election. 
  
 (e) Assignment to an SPRC. Notwithstanding any provision herein or in any other Transaction Document to the contrary at any time, if any Conduit
Purchaser so elects, such Conduit Purchaser may from time to time assign its interest in the related Note in whole or in part or may from time to time assign an undivided interest in, or sell a participation in, the related Note to any other SPRC
administered by its Managing Agent (or any Affiliate of such Managing 
  

 21 

 Agent) whose Commercial Paper shall, at the time of such transfer, be rated at least A-1 by S&P and P-1 by
Moody’s. Upon any such assignment by a Conduit Purchaser to an SPRC pursuant to the terms of this paragraph, such SPRC shall be a Conduit Purchaser for all purposes of this Note Purchase Agreement and shall become a member of the assigning
Conduit Purchaser’s Ownership Group. All costs and expenses of the Administrative Agent and the assignor incurred in connection with any assignment hereunder shall be borne by the assignor. 
  
 (f) Interest and Costs after Assignment. After giving effect to any
assignment pursuant to this Section 2.07, the applicable assignee shall be entitled to interest on the applicable Note, Breakage Amounts and Additional Amounts only to the extent accrued from and including the date of such assignment, and the
applicable assignor shall be entitled to all interest on the applicable Note, Breakage Amounts and Additional Amounts accrued through but excluding the date of such assignment. 
  
 SECTION 2.08. Time and Method of Payments. All amounts payable hereunder or with respect to the Notes shall be
paid by wire transfer or internal transfer of immediately available funds in Dollars not later than 2:00 p.m., New York City time, on the date due to the account specified by each Managing Agent in the related Schedule. Any funds received after that
time shall be deemed to have been received on the next Business Day. 
  
 SECTION 2.09. Extension of Commitment Termination Date. At any time after the sixty-first (61st) day
prior to the then current Commitment Termination Date (as determined in accordance with clause (a) of the definition of that term), the Issuer may request that the Commitment Termination Date be extended to the 364th day after the then current Commitment Termination Date. Each Managing Agent, on behalf of its Ownership Group, may, at its option, accept or reject
such request. The Issuer may request an extension of the Commitment Termination Date by notifying each Managing Agent of its request. Each Managing Agent shall notify the Administrative Agent within 30 days after such request as to whether it
consents to such extension, provided that, no Ownership Group will be required to give notice of consent prior to 30 days prior to the then current Commitment Termination Date (the later of such days, the “Extension Response
Date”). If the Managing Agent of a Ownership Group fails to give such notice by the Extension Response Date, that Ownership Group shall be deemed to have rejected the requested extension (each such Ownership Group that has rejected or is
deemed to have rejected the requested extension of the Commitment Termination Date as to that Ownership Group, a “Terminating Ownership Group”). 
  
 The Servicer may arrange for each Terminating Ownership Group to assign the Outstanding Principal Balance of its Note (in
whole), together with its unused Group Purchase Limit hereunder at such time, and its related commitments hereunder to another financial institution, all at the expense of the Servicer. Each Terminating Ownership Group shall cooperate fully with the
Servicer in effectuating any such assignment. Upon such an assignment (or assignments, as applicable), (i) the Terminating Ownership Group’s Group Purchase Limit shall be reduced to zero and (ii) the Applicable Pro Rata Shares of each remaining
Ownership Group shall be adjusted accordingly. 
  
 In such event,
the Managing Agent for the Terminating Ownership Group, as assignor, shall deliver an Assignment and Acceptance, duly executed, assigning to the assignee such 
  

 22 

 assignor’s rights and obligations hereunder and under its related Note and the assignor shall promptly execute and
deliver all further instruments and documents, and take all further action, that the assignee may reasonably request, in order to protect, or more fully evidence the assignee’s right, title and interest in and to such Note and to enable the
Administrative Agent and the related Managing Agent on behalf of such assignee, to exercise or enforce any rights hereunder and under the other Transaction Documents to which such assignor is or, immediately prior to such assignment, was a party.

  
 Upon any assignment pursuant to this Section 2.09, (i)
the assignee shall have all of the rights and obligations of the assignor hereunder and under the other Transaction Documents for all purposes of this Note Purchase Agreement and under the other Transaction Documents (it being understood that the
Alternate Transferees and Committed Purchasers, as assignees, shall be obligated to fund Advances under Section 2.03 in accordance with the terms thereof, notwithstanding that each Conduit Purchaser is permitted to elect not to make the
portion of any Advance it is requested to make) and (ii) to the extent of the interests assigned, the assignor shall relinquish its rights and be released from its obligations under this Note Purchase Agreement and under the other Transaction
Documents. On the date of such assignment pursuant to Section 8.04 of the Indenture, the Issuer and the Servicer shall pay to the Managing Agent for the Ownership Group of the Non-Funding Conduit Purchaser all accrued interest, fees and all
other amounts owing hereunder (including Breakage Amounts and other Additional Amounts) in accordance with Section 2.07(f) accruing or payable through the date of the assignment and then unpaid, and the assignee shall be entitled to interest
and fees with respect to the assigned Note only from and after the date of assignment. No such assignment shall be effective unless a fully executed copy of the related Assignment and Acceptance shall be delivered to the Administrative Agent and the
related Managing Agent. 
  
 If the Terminating Ownership
Group’s Outstanding Principal Balance and unused Group Purchase Limit are not assigned as provided above, at the close of business on the Commitment Termination Date for such Terminating Ownership Group, (i) the Terminating Ownership
Group’s Group Purchase Limit shall be reduced to zero, (ii) the Applicable Pro Rata Shares of each remaining Ownership Group shall be adjusted accordingly and (iii) the Maximum Amount will be reduced by an amount equal to the difference between
the Terminating Ownership Group’s Group Purchase Limit and its Outstanding Principal Balance of the Note relating to such Terminating Ownership Group at such time and thereafter will be further reduced on each Distribution Date by an amount
equal to the amount received by each Terminating Ownership Group in accordance with Section 8.4(b)(v) and (vii) of the Indenture. 
  
 On and after the Commitment Termination Date as to a Terminating Ownership Group, if the amount in the Operations Account is not sufficient to pay all
amounts due to all Terminating Ownership Groups under Section 8.4(b)(v) of the Indenture on any Distribution Date after payment of all amounts payable on that Distribution Date pursuant to Section 8.4(b)(i) through (iv) of the
Indenture, that Terminating Ownership Group shall be entitled to receive a distribution on that Distribution Date as otherwise provided in Section 8.4(b)(v) of the Indenture, such that if there is more than one Terminating Ownership Group,
all distributions of Collections pursuant to Section 8.4(b)(v) of the Indenture shall be allocated among the Terminating Ownership Groups in accordance with each such Terminating Ownership Group’s Applicable Funded Share (based on its
Applicable Funded Share as of the current Termination Date; it being 
  

 23 

 understood that if such day is also a Termination Date, each Terminating Ownership Group’s Applicable Funded Share
shall be recalculated at such time (taking into account amounts received by the applicable Managing Agent on behalf of its Terminating Ownership Group in respect of its Outstanding Principal Balance), and thereafter distributions shall be made to
all the Managing Agents pursuant to Section 8.4(b)(v) and, to the extent applicable Section 8.4(b)(vii), of the Indenture. 
  
 As to those Ownership Groups that consent to the requested extension by the Extension Response Date, the Commitment Termination Date referred to in clause
(a) of the definition of the term “Commitment Termination Date” shall be automatically extended to the date which is the 364th day after the then current Commitment Termination Date. 
  
 Notwithstanding anything in this Note Purchase Agreement to the contrary, as to any Conduit Purchaser, to the extent required under the documents governing its commercial paper program or any Program Support
Agreement, such Conduit Purchaser’s agreement to any such extension shall not be effective unless the credit and/or liquidity coverage under any Program Support Agreement are extended as necessary at such time to maintain the then-current
ratings of its commercial paper. 
  
 SECTION 2.10. Limited
Recourse. Notwithstanding anything in this Note Purchase Agreement, the Indenture, the Notes or in any other Transaction Document to the contrary, but without limiting the rights of the Indenture Trustee or the Noteholders in accordance with and
subject to the terms of this Note Purchase Agreement, the Indenture, the Notes or any other Transaction Document, the sole source of payment and satisfaction of the Issuer’s obligations hereunder and under the other Transaction Documents shall
be the Collateral. 
  
 ARTICLE III 
  
 CLOSING 
  
 SECTION 3.01. Closing. The closing of the initial purchase and sale of the Notes occurred on September 19, 2001. The
closing (the “Closing”) of the amendment and restatement of the Original Agreement by this Note Purchase Agreement shall occur on October 22, 2003 or if the conditions to closing set forth in Article IV of this Note Purchase
Agreement shall not have been satisfied or waived by such date, as soon as practicable after such conditions shall have been satisfied or waived, or at such other time, date and place as the parties shall agree upon (the date of the Closing being
referred to herein as the “Funding Date”). 
  
 SECTION 3.02. Transactions to be Effected at the Closing. Pursuant to the Original Agreement, on the Funding Date, CSFB, as Agent thereunder, shall sell and assign a portion of its interest under the Original Agreement and the Note
(as defined in the Original Agreement) to each Managing Agent hereunder (other than CSFB) and such assignment shall have the effect set forth in Section 2.07(c) hereof. Contemporaneously with such assignment, each Managing Agent shall make an
Advance hereunder on the Funding Date in such an amount that (after giving effect to the assignment) the Outstanding Principal Balance of each Note shall equal the amount for each such Managing Agent set forth in the column entitled “Note
Initial Principal Amount” in Schedule I hereto. To effectuate the sale, assignment and Advance, on the Funding 
  

 24 

 Date (i) each Managing Agent not party to the Original Agreement will deliver to the Administrative Agent funds in an
amount equal to the Initial Purchase Price of the related Note and (ii) the Administrative Agent will deliver to the Issuer and the Agent under the Original Agreement, as applicable, such amounts so that after the Closing, the Outstanding Principal
Balance under the Note held by the Managing Agent for each Ownership Group will equal the amount shown for that Ownership Group as set forth in the column captioned “Note Initial Principal Amount” on Schedule I hereto (which amount
shall be considered an Advance for all purposes hereunder), which portion allocable to the Issuer shall be made by wire transfer of immediately available funds to the Issuer’s account set forth in Section 2.03(d). 
  
 ARTICLE IV 
  
 CONDITIONS PRECEDENT TO 
 PURCHASE ON THE FUNDING DATE 
  
 The initial purchase by
each Managing Agent of a Note on behalf of its respective Ownership Group is subject to the satisfaction at the time of the Closing of the following conditions (any or all of which may be waived by the Administrative Agent and each Managing Agent in
its sole discretion): 
  
 SECTION 4.01. Performance by the
Issuer, the Sellers and the Servicer. All the terms, covenants, agreements and conditions of the Transaction Documents to be complied with and performed by the Issuer, the Sellers and the Servicer at or before the Closing shall have been
complied with and performed in all material respects. 
  
 SECTION
4.02. Representations and Warranties. Each of the representations and warranties of the Issuer, the Sellers and the Servicer made in the Transaction Documents shall be true and correct in all material respects as of the time of the Closing
(except to the extent they expressly relate to an earlier or later time). 
  
 SECTION 4.03. Opinions of Counsel to the Issuer. Counsel to the Issuer shall have delivered to the Administrative Agent a favorable opinion, addressed to the Administrative Agent, the Managing Agents, the
Conduit Purchasers, the Committed Purchasers and the Alternate Transferees, dated as of the Funding Date, and reasonably satisfactory in form and substance to the Administrative Agent and each Managing Agent and their respective counsel, as to such
matters as the Administrative Agent or any Managing Agent shall reasonably require. 
  
 SECTION 4.04. Opinions of Counsel to the Owner Trustee. Counsel to the Owner Trustee shall have delivered to the Administrative Agent a favorable opinion, addressed to the Administrative Agent, the Managing
Agents, the Conduit Purchasers, the Committed Purchasers and the Alternate Transferees, dated as of the Funding Date and reasonably satisfactory in form and substance to the Administrative Agent and each Managing Agent and their respective counsel,
as to such matters as the Administrative Agent or any Managing Agent shall reasonably require. 
  
 SECTION 4.05. Opinions of Counsel to the Indenture Trustee. Counsel to the Indenture Trustee shall have delivered to the Administrative Agent a favorable opinion, addressed to the 
  

 25 

 Administrative Agent, the Managing Agents, the Conduit Purchasers, the Committed Purchasers and the Alternate
Transferees, dated as of the Funding Date and reasonably satisfactory in form and substance to the Administrative Agent and each Managing Agent and their respective counsel, as to such matters as the Administrative Agent or any Managing Agent shall
reasonably require. 
  
 SECTION 4.06. Opinions of Counsel to
the Sellers and the Servicer. Counsel to the Sellers and the Servicer shall have delivered to the Administrative Agent a favorable opinion, addressed to the Administrative Agent, the Managing Agents, the Conduit Purchasers, the Committed
Purchasers and the Alternate Transferees, dated as of the Funding Date and reasonably satisfactory in form and substance to the Administrative Agent and each Managing Agent and their respective counsel, as to such matters as the Administrative Agent
or any Managing Agent shall reasonably require. 
  
 SECTION 4.07.
Reliance Letters. Hughes & Luce LLP, Fulbright & Jaworski L.L.P., and McGuire Woods LLP shall each deliver Reliance Letters addressed to each member of the ABN Ownership Group, the DB Ownership Group, the HSBC Ownership Group and the
GE Ownership Group as to each opinion issued by it on September 28, 2001 in connection with the Original Agreement. 
  
 SECTION 4.08. Accounts. The Administrative Agent shall have received evidence reasonably satisfactory to the Administrative Agent that the accounts
required to be established pursuant to Article VIII of the Indenture are established. 
  
 SECTION 4.09. Perfection of Security Interests. (a) Issuer’s Security Interest in the Trust Estate. The Administrative Agent shall have received acknowledgment copies of proper UCC financing
statements, duly filed on or before the Funding Date under the UCC of all jurisdictions that the Administrative Agent deems necessary or desirable in order to protect the Issuer’s first priority perfected security interest in the Collateral
(other than the Subject Equipment). 
  
 (b) Indenture
Trustee’s Security Interest in the Collateral. The Indenture Trustee and the Administrative Agent shall have received acknowledgment copies of proper UCC financing statements, duly filed on or before the Funding Date under the UCC of
all jurisdictions that the Administrative Agent deems necessary or desirable in order to protect the Indenture Trustee’s first priority interest in the Collateral (including the Subject Equipment). 
  
 SECTION 4.10. Search Results. Search reports with respect to federal
tax liens and other liens of the Sellers and judgment liens in such jurisdictions as the Administrative Agent may request, showing no such liens on the Collateral. 
  
 SECTION 4.11. Hedging Requirements. Each of the Hedging Requirements has been satisfied on the Funding Date.

  
 SECTION 4.12. Documents. The Administrative Agent shall
have received each of the Transaction Documents, each and every opinion, document, or certification delivered by any party in connection with the Transaction Documents (including all of the items specified in this Article IV) as of the
Funding Date, and each such document shall be in full force and effect. 
  

 26 

 SECTION 4.13. No Actions or Proceedings. No action, suit, proceeding or investigation by or before
any Governmental Authority shall have been instituted to restrain or prohibit the consummation of, or to invalidate, the transactions contemplated by the Transaction Documents and the documents related thereto in any material respect. 
  
 SECTION 4.14. Approvals and Consents. All Governmental Actions of all
Governmental Authorities required with respect to the transactions contemplated by the Transaction Documents and the other documents related thereto shall have been obtained or made. 
  
 SECTION 4.15. Officer’s Certificates. The Administrative Agent shall have received an Officer’s Certificate
from each of the Issuer, the Servicer, the Sellers and the Indenture Trustee, in form and substance reasonably satisfactory to the Administrative Agent, each Managing Agent and their counsel, dated as of the Funding Date, certifying as to: (i) the
satisfaction of the conditions set forth in Sections 4.01 and 4.02, (ii) the resolutions of its Board of Directors or Trustees authorizing the execution, delivery, and performance of the Transaction Documents, (iii) its certificate of
incorporation (or corresponding charter document), (iv) its by-laws (or corresponding charter document), (v) the names and true signatures of the officers authorized to sign the Transaction Documents to which it is party and (vi) any other matters
required by the Administrative Agent or any Managing Agent. 
  
 SECTION 4.16. Delivery of Investment Letters. The Issuer shall have received an Investment Letter (or other writing containing substantially the same representations) from the each Conduit Purchaser, the Committed Purchasers, the
Alternate Transferees and the related Managing Agent. 
  
 SECTION
4.17. Delivery of the Notes. The Issuer shall have delivered to each Managing Agent a Note in the name of such Managing Agent setting forth (a) the maximum principal amount equal to the related Ownership Group’s Group Purchase Limit and
(b) the actual principal amount equal to the related Note Initial Principal Amount. Each Managing Agent that has previously received a senior Note under the Original Agreement (each such Note, an “Original Agreement Note”) shall
return it to the Indenture Trustee; it being understood that upon such Managing Agent’s receipt of the Note relating to its Ownership Group hereunder, the Original Agreement Note shall be deemed to be cancelled. 
  
 SECTION 4.18. Other Documents. The Issuer shall have furnished to the
Administrative Agent and the Managing Agents such other information, certificates and documents as the Administrative Agent or any Managing Agent may reasonably request. 
  
 SECTION 4.19. Fees. All amounts payable under the Administration Agent Fee Letter and the Fee Letter due on the
Funding Date shall have been paid. 
  
 SECTION 4.20.
Transaction Documents Conditions. The conditions to effectiveness of, transfers pursuant to, and issuance of the Notes under, the Transaction Documents as set forth therein shall have been satisfied. 
  

 27 

 ARTICLE V 
  
 RELIANCE ON REPRESENTATIONS AND WARRANTIES 
 AND
CONDITIONS PRECEDENT, REAFFIRMATION OF REPRESENTATIONS AND 
 WARRANTIES 
  
 SECTION 5.01. Reliance on Representations and Warranties. The Administrative Agent, the Managing Agents and the
Owners shall be deemed to have relied on (a) the representations and warranties of the Issuer set forth in Article III of the Indenture, (b) the representations and warranties of the Servicer set forth in Section 3.4 of the Sale and
Servicing Agreement and (c) the representations and warranties of the Sellers set forth in Sections 2.4 and 2.5 of the Sale and Servicing Agreement, all of which representations and warranties are hereby made by the appropriate party,
and shall be made hereunder each and every time made under the appropriate document, to the Administrative Agent, the Managing Agents and the Owners. 
  
 SECTION 5.02. Reliance on Conditions Precedent. The Administrative Agent, the Managing Agents and the Owners shall be deemed to have relied on (a)
the conditions set forth in Section 2.03(a) and (b) the conditions precedent set forth in Article IV in purchasing the Notes (or any interest therein) on the Funding Date and in making (or committing to make) each Advance on each
Advance Date. 
  
 SECTION 5.03. Representations and Covenants
of the Indenture Trustee. By its signature hereto, the Indenture Trustee hereby makes to the Administrative Agent, the Managing Agents and the Owners the representations, warranties and covenants contained in Section 6.12 of the
Indenture. 
  
 ARTICLE VI 
  
 REPRESENTATIONS AND WARRANTIES 
 WITH RESPECT TO THE CONDUIT PURCHASERS, 
 COMMITTED PURCHASERS AND THE ALTERNATE TRANSFEREES 
  
 Each Conduit Purchaser, each Committed Purchaser and each Alternate Transferee severally hereby makes the following representations and warranties as of the Funding Date and as of each Advance Date, as to itself, to the Issuer on which the
Issuer shall rely in entering into this Note Purchase Agreement. 
  
 SECTION 6.01. Organization. It has been duly organized and is validly existing and in good standing as a corporation or banking association under the laws of the United States of America or the State, as applicable, governing its
incorporation with power and authority to own its properties and to transact the business in which it is now engaged. 
  
 SECTION 6.02. Authority, etc. It has all requisite power and authority to enter into and perform its obligations under this Note Purchase Agreement
and to consummate the transactions contemplated hereby and thereby. The execution and delivery by it of this Note Purchase Agreement and the consummation by it of the transactions contemplated hereby have been duly and validly authorized by all
necessary corporate or partnership action on its part. This Note 
  

 28 

 Purchase Agreement has been duly and validly executed and delivered by it and constitutes its legal, valid and binding
obligation enforceable against it in accordance with its terms, subject as to enforcement to bankruptcy, reorganization, insolvency, moratorium and other similar laws of general applicability relating to or affecting creditors’ rights and to
general principles of equity. Neither the execution and delivery by it of this Note Purchase Agreement nor the consummation by it of any of the transactions contemplated hereby, nor the fulfillment by it of the terms hereof, will conflict with, or
violate, result in a breach of or constitute a default under any term or provision of its Certificate of Incorporation (or corresponding charter document) or By-laws (or corresponding charter document), any material agreement, contract, indenture,
mortgage, deed of trust, instrument, or other document to which it is a party or by which it or any of its assets are bound, or any Government Rule applicable to it. 
  
 SECTION 6.03. Securities Act. The Note purchased by the Managing Agent on its behalf pursuant to this Note Purchase
Agreement, will not be acquired with a view to any public distribution thereof, and the Owners agree that they will not offer to sell, sell, solicit offers to purchase or otherwise dispose of its Note so acquired by it (or any interest therein) in
violation of any of the registration requirements of the Securities Act or of any applicable state or other securities laws. It acknowledges that it has no right to require the Issuer to register under the Securities Act or any other securities law
the Notes to be acquired by it pursuant to this Note Purchase Agreement. 
  
 It agrees with the Issuer that: (i) it and its Managing Agent will execute and deliver to the Issuer on or before the Funding Date a certain letter (the “Investment Letter”), in the form attached
hereto as Exhibit B, with respect to the purchase of the Note and (ii) all of the statements made by it and its Managing Agent in the Investment Letter are true and correct in all material respects as of the date made. It understands and
agrees that receipt by the Issuer of a duly executed Investment Letter is a condition precedent to it becoming an Owner. 
  
 ARTICLE VII 
  
 COVENANTS OF THE ISSUER, SELLERS AND THE SERVICER 
  
 SECTION 7.01. Covenants. Each of the Issuer, each Seller and the Servicer will duly observe and perform each of its covenants set forth in the
other Transaction Documents unless the performance of such covenant has been waived or any breach of such covenant has been cured pursuant to the terms of such Transaction Document. 
  
 SECTION 7.02. Amendments. (a) The Issuer, each Seller and the Servicer will not make or permit any Person to take any
action regarding amendments, modifications, changes or waivers to the Transaction Documents unless the consent as set forth below is obtained: 
  
 (1) without the prior written consent of each Managing Agent and the Administrative Agent, 
  
 (A) amend, modify or waive any provision of this Note
Purchase Agreement or the Fee Letter; 
  

 29 

 (B) reduce the Outstanding Principal Balance of its related Note or Note Interest Rate
that is payable on account of its related Note, or delay any scheduled date for payment thereof, or reduce the amount of any fees or any other amounts expressly provided to be payable under this Note Purchase Agreement or change the method of
calculation of any amount expressly provided to be payable under this Note Purchase Agreement; provided, that any modification to the Administrative Agent Fee Letter shall not require the consent of any Managing Agent. 
  
 (C) modify the definitions of Advance Rate, Commitment
Termination Date, Eligible Asset, Borrowing Base, Termination Event or Event of Default; 
  
 (D) modify any Hedge Agreement in a manner inconsistent with the Hedge Requirements; 
  
 (E) release any material portion of the Collateral; or

  
 (F) amend, modify or waive the provisions of
Section 8.4(b) of the Indenture. 
  
 (2)
without the prior written consent of the Owners funding at least 72% of the Outstanding Amount of the Notes, waive an Event of Default or Termination Event that occurs as a result of EDS’ failure to comply with the Financial Covenants;

  
 (3) other than as set forth in subclauses
(a)(1) and (2) above, Section 6.1 of the Sale and Servicing Agreement and Section 10.1 of the Indenture without the prior written consent of the Required Noteholders, agree to any amendment, modification, consent or waiver
of any provision of the Transaction Documents (excluding this Note Purchase Agreement). 
  
 SECTION 7.03. Rule 144A Information. The Issuer, each Seller and the Servicer will promptly furnish, upon the request of any Managing Agent, to such Managing Agent, copies of the information required to be
delivered pursuant to Rule 144A(d)(4) under the Securities Act of 1933, as amended, in order to permit compliance with Rule 144A in connection with resales by such Managing Agent of its Note. 
  
 ARTICLE VIII 
  
 ADDITIONAL COVENANTS 
  
 SECTION 8.01. Further Actions. The parties hereto will take all reasonable action necessary to obtain (and will cooperate with one another in
obtaining) any consent, authorization, permit, license, franchise, order or approval of, or any exemption by, any Governmental Authority or any other Person, required to be obtained or made by it in connection with any of the transactions
contemplated by this Note Purchase Agreement. 
  
 SECTION 8.02.
Restrictions on Transfer. Each Conduit Purchaser, each Alternate Transferee and each Committed Purchaser agrees that it will comply with the restrictions on 
  

 30 

 transfer of the Notes set forth in Section 2.4 of the Indenture and Sections 2.07 and 11.04(b)
hereof, and that it will resell the Note it holds or which is held for its benefit only in compliance with such restrictions. 
  
 SECTION 8.03. Certain Returns for Cancellation or Termination. Notwithstanding anything in this Agreement to the contrary, if after payment of any
amount by the Issuer in respect of principal of or interest on the Note which the Issuer receives from the Servicer pursuant to Section 3.2(h) of the Sale and Servicing Agreement, such amount must be returned by the Issuer to the Servicer
pursuant to that section of the Sale and Servicing Agreement, the Committed Purchasers and the Alternate Transferees shall, in accordance with their respective pro rata interests in the related Note, return such amount to the Issuer. 
  
 ARTICLE IX 
  
 INDEMNIFICATION 
  
 SECTION 9.01. Indemnification. The Issuer agrees to indemnify and hold harmless each Indemnified Party against any and all losses, claims, damages,
liabilities or expenses (including reasonable legal and accounting fees) (collectively, “Losses”), as actually incurred or suffered by an Indemnified Party (payable promptly upon written request), arising from or in connection with
this Note Purchase Agreement, including any breach of any representation, warranty or covenant of the Issuer or the Servicer in this Note Purchase Agreement, any Transaction Document or in any Note or other written material delivered pursuant hereto
or thereto and any failure to vest in the Issuer and the Indenture Trustee a security interest in the Contract Payments; provided, that the Issuer shall not be so required to indemnify any such Indemnified Party or otherwise be liable to any
such Indemnified Party hereunder for any Losses (i) to the extent such loss is of principal or interest on the Note, except to the extent arising from any breach of representation, warranty, covenant or other obligation of the Issuer, either Seller
or Servicer under the NMCI Contract or any Transaction Document, (ii) of the type that are the subject of Sections 9.04 and 9.05, regardless of whether such losses are indemnifiable under such Sections 9.04 and 9.05 (iii)
arising from such Indemnified Party’s gross negligence or willful misconduct or (iv) arising from a breach of any representation or warranty of the Issuer set forth in the Indenture, to the extent such Losses are covered pursuant to and to the
extent the Sellers have complied with their obligations under Section 2.7 of the Sale and Servicing Agreement. 
  
 SECTION 9.02. Procedure. In order for an Indemnified Party to be entitled to any indemnification provided for under this Note Purchase Agreement in
respect of, arising out of, or involving a claim made by any Person against the Indemnified Party (a “Third Party Claim”), such Indemnified Party must notify the Issuer in writing of the Third Party Claim promptly after receipt by
such Indemnified Party of written notice of the Third Party Claim unless the Issuer shall have previously obtained actual knowledge of that Third Party Claim, and thereafter, the Indemnified Party shall deliver to the Issuer and the Servicer within
a reasonable time after the Indemnified Party’s receipt thereof, copies of all notices and documents (including court papers) received by the Indemnified Party from the Person making the Third Party Claim, provided that, in each case,
the failure of the Indemnified Party to give such notice or provide such copies shall not relieve the Issuer from its obligations under this Section 9.02 except only to the extent the Issuer is materially adversely affected by such failure.

  

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 SECTION 9.03. Defense of Claims. If a Third Party Claim is made against an Indemnified Party, and
so long as no Event of Default or Termination Event has occurred and is continuing (a) the Issuer will be entitled to participate in the defense thereof and, (b) if it so chooses, to assume the defense thereof with counsel selected by the Issuer,
provided that in connection with such assumption (i) such counsel is not reasonably objected to by the Indemnified Party and (ii) the Issuer first admits in writing its liability to indemnify the Indemnified Party with respect to all elements of
such claim in full. Should the Issuer so elect to assume the defense of a Third Party Claim in accordance with the first sentence of this Section, the Issuer, as applicable, will not be liable to the Indemnified Party for any legal expenses
subsequently incurred by the Indemnified Party in connection with the defense thereof after the date on which the Indemnified Party has had notice of that assumption. If the Issuer elects to assume the defense of a Third Party Claim in accordance
with the first sentence of this Section, the Indemnified Party will (i) cooperate in all reasonable respects with the Issuer in connection with such defense and (ii) not admit any liability with respect to, or settle, compromise or discharge, such
Third Party Claim without the Issuer’s prior written consent, as the case may be. If the Issuer shall assume the defense of any Third Party Claim as permitted herein, the Indemnified Party shall be entitled to participate in (but not control)
such defense with its own counsel at its own expense. If the Issuer does not assume the defense of any such Third Party Claim after having been given the option to do so as provided above or if not permitted to do so, the Indemnified Party may
defend the same in such manner as it may deem appropriate, including, subject to the last sentence of this Section 9.03, settling such claim or litigation after giving at least 5 Business Days prior notice to the Issuer and the Servicer of such
terms, and, in such circumstance, upon the written request of the indemnified Party, the Issuer will promptly reimburse the Indemnified Party for all of the Losses arising from such Third Party Claim for which it is entitled to be indemnified. The
Issuer shall be entitled to participate in (but not control) at its sole expense the defense of such a claim or such litigation with its own counsel. Anything contained in this Note Purchase Agreement to the contrary notwithstanding, the Issuer
shall not be entitled to assume the defense of any part of a Third Party Claim that seeks an order, injunction or other equitable relief or relief for other than money damages against the Indemnified Party, and, if counterclaims exist between the
Indemnified Party, on one hand, and the Issuer, on the other hand, the Indemnified Party is not subject to the provisions of this Section 9.03 as to such counterclaims. For so long as no Termination Event or Event of Default shall have
occurred, no Indemnified Party shall enter into a settlement, confession of judgment or other compromise with respect to any Third Party Claim in respect of which the Issuer is required to indemnify such Indemnified Party without the prior written
consent of the Issuer, which consent or the denial of such consent shall not be unreasonably withheld or delayed, unless, with respect to such settlement, confession of judgment or other compromise by such Indemnified Party, such Indemnified Party
waives in writing its right to be indemnified with respect to such Third Party Claim under Section 9.01. 
  
 SECTION 9.04. Indemnity for Taxes, Reserves and Expenses. (a) If after the date hereof, the adoption of any Governmental Rule or bank regulatory
guideline or any amendment or change in the interpretation of any existing or future Governmental Rule or bank regulatory guideline by any Governmental Authority charged with the administration, interpretation or application thereof, or the
compliance with any directive of any Governmental Authority (in the case of any bank regulatory guideline, whether or not having the force of Governmental Rule): 
  

 32 

 (i) shall subject any Indemnified Party to any tax, duty, deduction or other charge with
respect to the Collateral, Transaction Documents, or payments of amounts due thereunder, or shall change the basis of taxation of payments to any Indemnified Party of amounts payable in respect thereof (except for changes in the rate of general
corporate, franchise, net income or other income tax imposed on such Indemnified Party by the United States of America, the jurisdiction in which such Indemnified Party’s principal executive office is located or any other jurisdiction in which
the Indemnified Party would be subject to such tax if the transactions contemplated by this Agreement had not occurred); or 
  
 (ii) shall impose, modify or deem applicable any reserve, capital, special deposit or similar requirement (including, without limitation,
any such requirement imposed by the Board of Governors of the Federal Reserve System) against assets of, deposits with or for the account of, or credit extended by, any Indemnified Party or shall impose on any Indemnified Party or on the United
States market for certificates of deposit or the London interbank market any other condition affecting the Contract Payments, the Transaction Documents or payments of amounts due hereunder or thereunder (including with respect to Eurocurrency
liability reserves); or 
  
 (iii) imposes upon
any Indemnified Party any other cost or expense (including, without limitation, reasonable attorneys’ fees and expenses, and expenses of litigation or preparation therefor in contesting any of the foregoing if such a contest is requested by the
Issuer) with respect to the Contract Payments, the Transaction Documents or payments of amounts due hereunder or thereunder but excluding any taxes, duties and other similar impositions of Governmental Authorities; 
  
 and the result of any of the foregoing is to increase the cost or reduce the payments to such
Indemnified Party with respect to the Contract Payments, the Indenture, the Note, this Note Purchase Agreement, the other Transaction Documents, any Program Support Agreement or payments of amounts due hereunder or thereunder or the obligations
hereunder or thereunder or the funding of any purchases (including Advances) with respect thereto by any Owner, then, from time to time, the Issuer agrees to pay such Indemnified Party, within 10 days after demand by such Indemnified Party, such
additional amount or amounts as will compensate such Indemnified Party for such increased cost or reduced payments. 
  
 (b) If any Indemnified Party shall have determined that, after the date hereof, the adoption of any applicable Governmental Rule or bank regulatory
guideline regarding capital adequacy, or any change therein, or any change in the interpretation thereof by any Governmental Authority, or any directive regarding capital adequacy (in the case of any bank regulatory guideline, whether or not having
the force of law) of any such Governmental Authority, has or would have the effect of reducing the rate of return on capital of such Indemnified Party (or its parent) as a consequence of such Indemnified Party’s obligations hereunder or under
any Program Support Agreement to the extent relating to the Transaction Documents or with respect hereto to a level below that which such Indemnified Party (or its 
  

 33 

 parent) could have achieved but for such adoption, change, request or directive (taking into consideration its policies
with respect to capital adequacy) then from time to time, the Issuer and the Servicer agree to pay such Indemnified Party, within 10 days after demand by any such Indemnified Party, such additional amount or amounts as will compensate such
Indemnified Party (or its parent) for such reduction. 
  
 (c) Any
Indemnified Party who makes a demand for payment of increased costs or capital pursuant to Section 9.04(a) or (b) shall promptly deliver to the Issuer and the Servicer a certificate setting forth in reasonable detail the computation of
such increased costs or capital and specifying the basis therefor. In the absence of manifest error, such certificate shall be conclusive and binding for all purposes. Each Indemnified Party shall use reasonable efforts to mitigate the effect upon
the Issuer and the Servicer of any such increased costs or capital requirements; provided, it shall not be obligated to take any action that it determines would be disadvantageous to it or inconsistent with its policies. 
  
 SECTION 9.05. Costs, Expenses, Taxes, Breakage Amounts, Increased Costs
Under Note Purchase Agreement and Program Support Agreement and Withholding Taxes. 
  
 (a) The Issuer shall be obligated to pay on demand to each Owner and its Managing Agent: (i) all reasonable costs and expenses, including the reasonable fees and expenses of counsel to the Administrative Agent, with
the understanding that the Administrative Agent’s counsel may be providing service to and acting on behalf of all of the Managing Agents, in connection with the preparation, execution and delivery of this Note Purchase Agreement, any
amendments, waivers or consent with respect to the Transaction Documents, the other documents to be delivered hereunder or thereunder or in connection herewith or therewith and (ii) all reasonable costs and expenses, including the reasonable fees
and expenses of counsel for the Owners and its Managing Agent, if any, in connection with the enforcement of this Note Purchase Agreement, the other Transaction Documents, and the other documents delivered hereunder or thereunder or in connection
herewith or therewith. 
  
 (b) The Issuer shall be obligated to
pay on demand any and all stamp and other taxes and fees payable in connection with the execution, delivery, filing and recording of this Note Purchase Agreement, the Notes, the other Transaction Documents or the other documents and agreements to be
delivered hereunder and thereunder, and each of them agrees to save each Owner, each Managing Agent and the Administrative Agent harmless from and against any liabilities with respect to or resulting from any delay in paying or omission to pay such
taxes and fees. 
  
 (c) The Issuer shall pay to the Administrative
Agent for the accounts of the Managing Agents on behalf of the applicable Ownership Group, upon the request of the Administrative Agent, such amount or amounts as shall compensate such Ownership Group for any loss (including loss of profit), cost or
expense incurred by any Ownership Group (as reasonably determined by such Ownership Group and demonstrated by written evidence delivered to the Issuer as a result of any repayment of (including as a result of a Clean-Up Call), or any assignment to
another Conduit Purchaser, the Committed Purchasers, the Alternate Transferees, or the Program Support Providers of, a Note or any interest therein (and the Funding Rate thereon) (x) prior to the maturity date of the Commercial Paper (or other
financing source) 
  

 34 

 funding such Note and outstanding at the time of the repayment, such compensation to be limited to an amount equal to any
loss or expense suffered by such Ownership Group during the period from the date of receipt of such repayment to (but excluding) the maturity date of the Commercial Paper (or other financing source) funding the Note (y) if any prepayment of
principal occurs on a day other than the last day of any Interest Period or if any Advance is not made on the date specified in the Notice of Advance, in each case, with respect to any Notice of Advance as to which the Funding Rate during that
Interest Period is based on LIBOR, any loss incurred by the Owner of that Note in obtaining, liquidating, employing or redeploying deposits of foreign currencies from third parties, for the period after any such repayment through the end of such
Interest Period (the calculation of such loss or expense shall include a credit (not in excess of such loss or expense) for the interest that could be earned by such Owner of that Note as a result of redepositing or redeploying such amount),
provided that, the Managing Agent related to the Owner shall have delivered to the Issuer a certificate of that Managing Agent as to the amount of such loss, which certificate shall be conclusive in the absence of manifest error, or (z) in an amount
different from the amount specified in any Notice of Advance, repayment notice or notice delivered in conjunction with a Clean-Up Call, in each case if the rate of interest obtainable by such Ownership Group upon the redeployment of an amount of
funds equal to the amount of such repayment is less than the rate of interest applicable to such Commercial Paper (or other financing source) (such loss, cost, or expense being referred to herein as “Breakage Amount”). The
determination by any Ownership Group of the amount of any such loss, cost, or expense shall be set forth in a written notice to the Administrative Agent and to the Issuer and the Servicer in reasonable detail and shall be conclusive, absent manifest
error. 
  
 (d) The Issuer shall pay to any Owner, so long as such
Owner shall be required under regulations of the Board of Governors of the Federal Reserve System to maintain reserves in excess of those reserves required on the date hereof with respect to liabilities or assets consisting of or including
eurocurrency liabilities, additional yield on the Outstanding Principal Balance of all the Notes held by such Owner during each Interest Period in respect of which Note Interest Rate is computed by reference to LIBOR, for such Interest Period, at a
rate per annum equal at all times during such Interest Period to the remainder obtained by subtracting (i) LIBOR for such Interest Period from (ii) the rate obtained by dividing such LIBOR referred to in clause (i) above by that percentage
equal to 100% minus the LIBOR Rate Reserve Percentage of such, Owner for such Interest Period, payable on each date on which accrued interest on the Note held by such Owner is due and payable to such Owner. Such additional yield shall be
determined by each Managing Agent and notice thereof (accompanied by a statement setting forth the basis for the amount being claimed) shall be given to the Administrative Agent to deliver to the Servicer and the Issuer within 30 days after any
interest payment on the Notes is made with respect to which such additional payment to preserve yield is requested. Such written statement shall, in the absence of manifest error, be rebuttable presumptive evidence of the subject matter thereof. Any
Indemnified Party claiming any additional amounts payable pursuant to this Section 9.05(d) agrees to use reasonable efforts (consistent with legal and regulatory restrictions) to designate a different office or branch of such Indemnified
Party as its lending office if the making of such a designation would avoid the need for, or reduce the amount of, any such additional amounts and would not, in the reasonable judgment of such Indemnified Party, be otherwise disadvantageous to such
Indemnified Party. 
  

 35 

 (e) Provided that the Owner has complied with the provisions of subsection (f) below, all payments made
by the Seller to or for the benefit of such Owner hereunder shall be made without withholding for or on account of any present or future taxes, except for taxes based on overall net income (including franchise taxes based on net income), backup
withholding taxes under Section 3406 of the Code, and taxes imposed by any country, or any political subdivision thereof, other than the United States (“Excluded Taxes”). If any withholding of taxes other than Excluded Taxes is so required
and the Owner has complied with the provisions of subsection (f) below, the Seller shall make the withholding, pay the amount withheld to the appropriate authority before penalties attach thereto or interest accrued thereon and pay such additional
amount as may be necessary to ensure that the net amount actually received by each Owner and the Managing Agent free and clear of such taxes (including such taxes on such additional amount) is equal to the amount that the Owner or the Managing Agent
(as the case may be) would have received had such withholding not been made. If the Managing Agent or any Owner pays any such taxes (other than Excluded Taxes), penalties or interest and the Owner has complied with the provisions of subsection (f)
below, the Seller shall reimburse the Managing Agent or such Owner for that payment on demand. If the Seller pays any such taxes (other than Excluded Taxes), penalties or interest, it shall deliver official tax receipts evidencing that payment or
certified copies thereof to the Owner or Managing Agent on whose account such withholding was made (with a copy to the Managing Agent if not the recipient of the original) on or before the thirtieth day after payment. If the Indenture Trustee or
Managing Agent pays any such taxes (other than Excluded Taxes), penalties or interest, it shall deliver official tax receipts evidencing that payment or certified copies thereof to the Owner on whose account such withholding was made (with a copy to
the Seller) on or before the thirtieth day after payment. 
  
 (f)
Before the first day on which any amount is payable hereunder for the account of any Owner that is not a United States person within the meaning of Section 7701(a)(30) of the Code, such Owner shall deliver to the Seller, the Indenture Trustee, and
the Administrative Agent each two (2) duly completed, true, and correct copies of United States Revenue Service Form W-8BEN or W-8ECI (or successor applicable form) certifying that such Owner is entitled to receive payments hereunder without
deduction or withholding of any United States federal income taxes. Each such Owner shall replace or update such forms when necessary to maintain any applicable exemption and as requested by the Administrative Agent or the Seller. 
  
 (g) If a Conduit Purchaser becomes obligated to compensate any financial
institution under its commercial paper program as a result of any events or circumstances similar to those described in Section 9.04 or clauses (c), (d) and (e) of this Section 9.05, such Conduit Purchaser shall
promptly deliver to the Issuer and the Servicer a certificate setting forth in reasonable detail the computation of such amounts (which shall be allocated to the Issuer based on the portion of such compensation attributable to the Issuer’s
receipt of or right to receive funds under this Agreement). In the absence of manifest error, such certificate shall be conclusive and binding for all purposes. The Issuer shall be obligated to pay to the Conduit Purchaser, promptly after receipt of
such certificate, such additional amounts as may be necessary to pay or reimburse the Conduit Purchaser for any amounts so paid or payable by the Conduit Purchaser. With respect to amounts to be paid pursuant to this Section 9.05(e) as a
result of any events or circumstances similar to those described in Section 9.04, the applicable Conduit Purchaser shall request the party to be compensated to use its reasonable efforts to mitigate the effect upon the Issuer and the Servicer
of any such increased costs or capital requirements; provided, such party shall not be 
  

 36 

 obligated to take any action that it determines would be disadvantageous to it or inconsistent with its policies.

  
 ARTICLE X 
  
 THE AGENTS 
  
 SECTION 10.01. Authorization and Action of Administrative Agent. Each Ownership Group and its related Managing Agent
hereby accepts the appointment of and authorizes the Administrative Agent to take such action as agent on behalf of such Ownership Group and Managing Agent and to exercise such powers as are delegated to such Administrative Agent by the terms
hereof, together with such powers as are reasonably incidental thereto. Except for actions which the Administrative Agent is expressly required to take pursuant to this Note Purchase Agreement, the Administrative Agent shall not be required to take
any action which exposes the Administrative Agent to personal liability or which is contrary to applicable law unless the Administrative Agent shall receive further assurances to its satisfaction from the applicable Ownership Groups, of the
indemnification obligations under Section 10.04 against any and all liability and expense which may be incurred in taking or continuing to take such action. The Administrative Agent agrees to give to each Managing Agent prompt notice of each
notice and determination and a copy of each report (if such notice, report or determination is not given by the applicable Person to the Managing Agents) given to it by each Seller or the Issuer, pursuant to the terms of this Note Purchase Agreement
or any other Transaction Document. 
  
 SECTION 10.02.
Authorization and Action of Managing Agents. Each member of each Ownership Group hereby accepts the appointment of and authorizes the Managing Agent for such Ownership Group to take such action as agent on its behalf and to exercise such
powers as are delegated to such Managing Agent by the terms hereof, together with such powers as are reasonably incidental thereto. Each Managing Agent reserves the right, in its sole discretion, to take any actions and exercise any rights or
remedies under this Note Purchase Agreement or any other Transaction Document and any related agreements and documents on behalf of the Owner(s) of the Note held by such Managing Agent’s Ownership Group. Except for actions which any Managing
Agent is expressly required to take pursuant to this Note Purchase Agreement, as the case may be, such Managing Agent shall not be required to take any action which exposes such Managing Agent to personal liability or which is contrary to applicable
law unless such Managing Agent shall receive further assurances to its satisfaction from the members of its related Ownership Group of the indemnification obligations under Section 10.05 against any and all liability and expense which may be
incurred in taking or continuing to take such action. 
  
 SECTION
10.03. Agency Termination. Subject to Sections 10.05 and 10.07, the appointment and authority of the Administrative Agent as to all Ownership Groups and each Managing Agent as to its related Ownership Group hereunder shall
terminate upon the later of (i) the payment to (a) such Ownership Groups or the related Ownership Group, as the case may be, of all amounts owing to such Ownership Groups or the related Ownership Group, as the case may be, hereunder and under the
Notes and (b) the Managing Agents and the Administrative Agent of all amounts due hereunder and under the Notes and (ii) as to each Ownership Group the Commitment Termination Date. 
  

 37 

 SECTION 10.04. Agents’ Reliance, etc. Neither the Administrative Agent, the Managing Agents
nor any of their directors, officers, agents or employees shall be liable for any action taken or omitted to be taken by it as Administrative Agent or as Managing Agents under or in connection with this Note Purchase Agreement or any related
agreement or document, except for its or their own gross negligence or willful misconduct. Without limiting the foregoing, the Administrative Agent and each Managing Agent: (i) may consult with legal counsel, independent public accountants and other
experts selected by it and shall not be liable for any action taken or omitted to be taken in good faith by it in accordance with the advice of such counsel, accountants or experts; (ii) makes no warranty or representation to any Ownership Group and
shall not be responsible to any Ownership Group for any statements, warranties or representations made by the Issuer, the Sellers or the Servicer in connection with this Note Purchase Agreement or any other Transaction Document; (iii) shall not have
any duty to ascertain or to inquire as to the performance or observance of any of the terms, covenants or conditions of this Note Purchase Agreement or any other Transaction Document on the part of the Issuer, the Sellers or the Servicer or to
inspect the property (including the books and records) of the Issuer, the Sellers or the Servicer; (iv) shall not be responsible to the Ownership Group, as the case may be, for the due execution, legality, validity, enforceability, genuineness,
sufficiency or value of this Note Purchase Agreement or any other instrument or document furnished pursuant hereto; and (v) shall incur no liability under or in respect of this Note Purchase Agreement by acting upon any notice (including notice by
telephone), consent, certificate or other instrument or writing (which may be by telex) believed by it in good faith to be genuine and signed or sent by the proper party or parties. 
  
 SECTION 10.05. Administrative Agent, Managing Agents and Affiliates. The Administrative Agent and its
Affiliates and each Managing Agent and its Affiliates may generally engage in any kind of business with the Issuer, the Servicer or the Sellers, any of their respective Affiliates and any Person who may do business with or own securities of the
Issuer, the Sellers, the Servicer or the NMCI Contract Obligor or any of their respective Affiliates, all as if CSFB were not the Administrative Agent and without any duty to account therefor to the other Managing Agents or Ownership Groups and as
if such parties were not Managing Agents and without any duty to account therefor to their respective related Ownership Groups. 
  
 SECTION 10.06. Indemnification. (a) Each Owner (other than a Conduit Purchaser) severally agrees to indemnify its related Managing Agent from and
against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever which may be imposed on, incurred by, or asserted against such Managing Agent in
any way relating to or arising out of this Note Purchase Agreement or any other Transaction Document or any action taken or omitted by such Managing Agent under this Note Purchase Agreement or any other Transaction Document; provided, that
(i) no Ownership Group shall be liable for any portion of such liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements resulting or arising from the related Managing Agent’s gross
negligence or willful misconduct and (ii) no Ownership Group shall be liable for any amount in respect of any compromise or settlement or any of the foregoing unless such compromise or settlement is approved by each Owner in such Ownership Group.
Without limitation of the generality of the foregoing, each Owner (other than a Conduit Purchaser) agrees to reimburse the related Managing Agent, promptly upon demand, for any reasonable out-of-pocket expenses (including reasonable counsel fees)
incurred by such 
  

 38 

 Managing Agent in connection with the administration, modification, amendment or enforcement (whether through
negotiations, legal proceedings or otherwise) of, or legal advice in respect of rights or responsibilities under, this Note Purchase Agreement or any other Transaction Document, provided, that no Owner shall be responsible for the costs and
expenses of such Managing Agent in defending itself against any claim alleging the gross negligence or willful misconduct of the related Managing Agent to the extent a court of competent jurisdiction in a final and non-appealable decision determines
that such Managing Agent was grossly negligent or engaged in willful misconduct. 
  
 (b) Each Managing Agent severally agrees to indemnify the Administrative Agent from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or
disbursements of any kind or nature whatsoever which may be imposed on, incurred by, or asserted against the Administrative Agent in any way relating to or arising out of this Note Purchase Agreement or any action taken or omitted by the
Administrative Agent under this Note Purchase Agreement; provided, that (i) no Managing Agent shall be liable for any portion of such liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or
disbursements resulting or arising from the Administrative Agent’s gross negligence or willful misconduct and (ii) no Managing Agent shall be liable for any amount in respect of any compromise or settlement or any of the foregoing unless such
compromise or settlement is approved by the related Ownership Group. Without limitation of the generality of the foregoing, each Managing Agent agrees to reimburse the Administrative Agent, promptly upon demand, for any reasonable out-of-pocket
expenses (including reasonable counsel fees) incurred by the Administrative Agent in connection with the administration, modification, amendment or enforcement (whether through negotiations, legal proceedings or otherwise) of, or legal advice in
respect of rights or responsibilities under, this Note Purchase Agreement, provided, that no Managing Agent shall be responsible for the costs and expenses of the Administrative Agent in defending itself against any claim alleging the gross
negligence or willful misconduct of the Administrative Agent to the extent a court of competent jurisdiction in a final and non-appealable decision determines that the Administrative Agent was grossly negligent or engaged in willful misconduct.

  
 SECTION 10.07. Purchase Decision. Each Owner
acknowledges that it has, independently and without reliance upon its related Managing Agent or the Administrative Agent, and based on such documents and information as it has deemed appropriate, made its own evaluation and decision to enter into
this Note Purchase Agreement and to purchase an interest in the Note. Each Owner also acknowledges that it will, independently and without reliance upon its related Managing Agent or the Administrative Agent or any of their respective Affiliates,
and based on such documents and information as it shall deem appropriate at the time, continue to make its own decisions in taking or not taking action under this Note Purchase Agreement or any related agreement, instrument or other document.

  
 SECTION 10.08. Successor Agents. The Administrative
Agent or any Managing Agent may resign at any time by giving five days’ written notice thereof each Managing Agent (in the case of the Administrative Agent’s resignation) or to the members of its respective Ownership Group (in the case of
a Managing Agent’s resignation), as applicable, the Issuer and the Servicer. Upon any such resignation, the Managing Agents or the related Ownership Group, as applicable, shall have the right to appoint a successor Administrative Agent or
Managing Agent subject, so 
  

 39 

 long as no Termination Event or Event of Default has occurred and is continuing, to the prior approval of the Issuer
(which approval will not be unreasonably withheld or delayed). If no successor Administrative Agent or Managing Agent shall have been so appointed and shall have accepted such appointment, within sixty days after the retiring Administrative
Agent’s or Managing Agent’s giving of notice of resignation, then the retiring Administrative Agent or Managing Agent may, on behalf of the Managing Agents or the related Ownership Group, as applicable, appoint a successor Administrative
Agent or Managing Agent. If such successor Administrative Agent or Managing Agent is not an Affiliate of the resigning Administrative Agent or Managing Agent, such successor Administrative Agent or Managing Agent shall be subject to the
Issuer’s prior written approval (which approval will not be unreasonably withheld or delayed). Upon the acceptance of any appointment as Administrative Agent or Managing Agent hereunder by a successor Administrative Agent or Managing Agent,
such successor Administrative Agent or Managing Agent shall thereupon succeed to and become vested with all of the rights, powers, privileges and duties of the retiring Administrative Agent or Managing Agent, and the retiring Administrative Agent or
Managing Agent shall be discharged from its duties and obligations under this Note Purchase Agreement. After any retiring Administrative Agent’s or Managing Agent’s resignation hereunder as Administrative Agent or Managing Agent, the
provisions of this Article X shall inure to its benefit as to any actions taken or omitted to be taken by it while it was an Administrative Agent or Managing Agent under this Note Purchase Agreement. 
  
 ARTICLE XI 
  
 MISCELLANEOUS 
  
 SECTION 11.01. Amendments. No amendment or waiver of any provision of this Note Purchase Agreement shall in any event be effective unless the same
shall be in writing and signed by the Servicer, the Issuer, each Managing Agent and the Administrative Agent (provided that any waiver with respect to obligations of the Servicer or the Issuer shall not be required to be signed by it), and then such
amendment, waiver or consent shall be effective only in the specific instance and for the specific purpose for which given. 
  
 SECTION 11.02. Notices. All notices, demands, certificates, requests and communications hereunder (“notices”) shall be in writing
and shall be effective (a) upon receipt when sent through the U.S. mails, registered or certified mail, return receipt requested, postage prepaid, with such receipt to be effective the date of delivery indicated on the return receipt, or (b) one (1)
Business Day after delivery to an overnight courier, or (c) on the date personally delivered to an authorized officer of the party to which sent, or (d) on the date transmitted by legible telefax transmission with a confirmation of receipt, in all
cases addressed to the recipient as set forth in Schedule III. 
  
 SECTION 11.03. No Waiver; Remedies. No failure on the part of any party hereto to exercise, and no delay in exercising, any right hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any right
hereunder preclude any other or further exercise thereof or the exercise of any other right. The remedies herein provided are cumulative and not exclusive of any remedies provided by law. 
  

 40 

 SECTION 11.04. Binding Effect; Participations, Etc. 
  
 (a) This Note Purchase Agreement shall be binding upon and inure to the
benefit of the Issuer, the Servicer, the Administrative Agent, the Managing Agents, the Conduit Purchasers, Committed Purchasers, and the Alternate Transferees and their respective successors and permitted assigns (including any subsequent holders
of the Notes); provided, that the Issuer shall not have the right to assign its rights hereunder or any interest herein (by operation of law or otherwise) without the prior written consent of the Administrative Agent and the Managing Agents.
The Issuer acknowledges that each Owner may at any time assign any and all of its rights and obligations hereunder and under its related Note as permitted in Section 2.07. 
  
 (b) Any Owner may in the ordinary course of its business and in accordance with applicable law, at any time sell to one or
more Eligible Transferees (each, a “Participant”) participating interests in all or a portion of its rights and obligations under this Note Purchase Agreement. Notwithstanding any such sale by an Owner of participating interests to
a Participant, (i) such Owner’s rights and obligations under this Note Purchase Agreement shall remain unchanged, (ii) such Owner shall remain solely responsible for the performance thereof, (iii) such Owner shall remain the holder of any
obligation owing to it hereunder for all purposes under this Note Purchase Agreement, and (iv) the Issuer, the Servicer, Administrative Agent, each Conduit Purchaser and the related Managing Agent shall continue to deal solely and directly with such
Owner in connection with such Owner’s rights and obligations under this Note Purchase Agreement. The Issuer and the Servicer also agree that each Participant shall be entitled to the benefits of Article IX; provided, that the
aggregate amount of all amounts payable by the Issuer or the Servicer to any such Participant shall be limited to the aggregate amount which would have been payable to the Owner selling such participating interest had such interest not been sold.

  
 (c) This Note Purchase Agreement shall create and constitute
the continuing obligation of the parties hereto in accordance with its terms, and shall remain in full force and effect until such time as all amounts payable with respect to the Notes shall have been paid in full. 
  
 SECTION 11.05. Confidentiality. 
  
 (a) For purposes of this Section 11.05, (i) “EDS Restricted
Confidential Information” shall mean all information pertaining to the Issuer, a Seller or the Servicer (each, an “EDS Party”) or any of its affiliates or subsidiaries, furnished, communicated or made available by an EDS
Party to the Administrative Agent, a Managing Agent or an Owner (each, an “Investor Party”) in any fashion (provided that such information is conspicuously marked “Confidential” if provided in writing) in connection with
the transactions contemplated by the Transaction Documents (but excluding De-Linked Information), (ii) “Investor Restricted Confidential Information” shall mean all information pertaining to an Investor Party or any of its
affiliates or subsidiaries, furnished, communicated or made available by an Investor Party to an EDS Party in any fashion (provided that such information is conspicuously marked “Confidential” if provided in writing) in connection with the
transactions contemplated by the Transaction Documents (but excluding De-Linked Information), (iii) EDS Restricted Confidential Information or Investor Restricted Confidential Information, as the context may require, includes the following

  

 41 

 information, whether communicated in writing, in graphic or electronic form and regardless of the form or storage medium:
(x) all business information, plans, tactics, or materials, including business plans and strategies, employee lists, employee benefit programs, personnel matters, customer lists, market information, pricing policies, methods, financial information,
or information regarding financing plans, current planned and optional considerations for capital structure and liquidity needs, any customer contract or proposal for a customer contract, investor information, test data relating to any research or
pilot projects, work in process, present or future products; (y) all computer programs (including object and source code), software processes, systems writings, technical know-how or ideas, and algorithms; and (z) all manuals, systems documentation,
confidential reports, correspondence, memoranda or other materials related to any of the items described in clauses (x) and (y) above, in each case to the extent pertaining to an EDS Party (or any of its affiliates or subsidiaries) (in the case of
EDS Restricted Confidential Information) or an Investor Party (or any of its affiliates or subsidiaries) (in the case of Investor Restricted Confidential Information); and (iv) “De-Linked Information” shall mean the Transaction
Documents and all legal, accounting and other analyses affecting the structure of the transactions contemplated by the Transaction Documents. As to each Investor Party, its “Restricted Confidential Information” is the EDS Restricted
Confidential Information. As to each EDS Party, its “Restricted Confidential Information” is the Investor Restricted Confidential Information. 
  
 (b) Each party will hold its Restricted Confidential Information in confidence. Each party hereto will use or disclose its Restricted Confidential
Information only in connection with the transactions contemplated by the Transaction Documents. Additionally, each Investor Party agrees that it will not use or disclose to any Person any De-Linked Information (except for any Transaction Documents
publicly filed by EDS under applicable SEC regulations) if such De-Linked Information is identified by such Investor Party or may readily be identified (as determined in good faith by such Investor Party) as relating to an EDS Party or the NMCI
Contract, except that nothing herein shall prohibit any disclosure of De-Linked Information in any manner which would be permitted for EDS Restricted Confidential Information. Without limiting the generality of the above: 
  

	 	(i)	Each party hereto will disclose its Restricted Confidential Information only to those of its respective managers, members, employees, officers, directors, affiliates, agents,
shareholders, owners and professional advisors (such managers, members, employees, officers, directors, affiliates, agents, shareholders, owners and advisors collectively referred to hereinafter as the “Representatives”) who need
access to such Restricted Confidential Information in connection with the transactions contemplated by the Transaction Documents and, in the case of disclosure by an Investor Party, to its permitted assignees and participants, the placement agents
for the commercial paper notes issued by an Owner, the rating agencies with respect to such notes, Program Support Providers, and counsel for any of the foregoing Persons (each a “Permitted Recipient”), and to no one else;

  

	 	(ii)	Each party hereto will advise each of their respective Representatives who receive any Restricted Confidential Information of the information’s confidential nature, and will
procure their assurance that they will abide by the terms and conditions of this Section 11.05 as though such Persons were parties hereto; and 

  

 42 

	 	(iii)	Each party hereto shall be responsible for the breach of this Section 11.05 by any of their respective Representatives. 

  
 (c) The obligation of nonuse and nondisclosure (including all restrictions on
use and disclosure) described in Section 11.05 will not be deemed to restrict any party hereto from using and/or disclosing (such using and/or disclosing party being referred to herein as the “Disclosing Party”) any of its
Restricted Confidential Information or De-Linked Information which: 
  

	 	(i)	is or becomes publicly known or within the public domain without the breach of this Section 11.05 by the Disclosing Party; 

  

	 	(ii)	was known to the Disclosing Party prior to its receipt from the applicable Owning Party or was rightfully received by the Disclosing Party from a third party;

  

	 	(iii)	has been independently conceived, discovered, acquired or developed, whether before or after the date of this Agreement, by the Disclosing Party or its Representatives, without
violating any of its obligations under this Section 11.05; or 

  

	 	(iv)	is otherwise necessary to establish rights or enforce obligations under the Transaction Documents, but only to the extent such disclosure is necessary. 

  
 (d) If any party hereto is requested or required by law or by any court or
governmental agency or authority or the rules and regulations of any organization to disclose its Restricted Confidential Information, then the party so requested or required (the “Requested Party”) will provide the party which
communicated such information to the Requested Party (the “Owning Party”) with prompt notice of such request or requirement prior to disclosure. The Owning Party receiving notice may then either seek appropriate protective relief
from all or part of the request or requirement (including confidential treatment of any disclosure if required) at its sole expense or waive the Requested Party’s compliance with the provisions of this Section 11.05 with respect to all or part
of such request or requirement. Each party hereto agrees that if it is the Requested Party, it will cooperate with the Owning Party in attempting to obtain, at the expense of the Owning Party, any protective relief which the Owning Party seeks. If
upon the advice of counsel for the Requested Party, the Requested Party is legally compelled to disclose any of its Restricted Confidential Information to such court, agency, authority, organization or entity, then the Requested Party may disclose
that portion of its Restricted Confidential Information which counsel to such Requested Party advises that it is compelled to disclose; provided that, if disclosure is required by the rules and regulations of any organization or entity on which the
Disclosing Party’s securities are traded, the parties will consult with each other as far in advance as practicable as to the content and times of such releases or announcements. 
  
 (e) Each party hereto acknowledges and agrees that all of its Restricted Confidential Information and all summaries,
compilations and, computer programs relating to such Restricted Confidential Information, whether prepared by an EDS Party or an Investor Party will be the exclusive property of the party hereto to which such Restricted Confidential Information
pertains. Each party hereto acknowledges that none of the parties have been granted by this Section 11.05 a license, copyright, or similar right with respect to any of the Restricted Confidential Information or any other information provided by one
party to the other. Each party hereto acknowledges that (except as otherwise provided in the Transaction Documents) no party represents or warrants (expressly or by implication) the accuracy or completeness of such 
  

 43 

 information. Upon request, each party hereto agrees to destroy all copies of its Restricted Confidential Information, and
will destroy all documents within its possession or control which contain any of its Restricted Confidential Information. To the extent permitted by applicable law, all documents, memoranda notes and other writings whatsoever prepared by a party
based in whole or in part on its Restricted Confidential Information shall be destroyed, and, upon request of the applicable Owing Party, such destruction shall be certified in writing to such Owning Party by an authorized officer or agent
supervising such destruction. Notwithstanding the return or destruction of any Restricted Confidential Information or any documents or materials based in whole or in part on any Restricted Confidential Information, each party shall continue to be
bound by its obligations under this Section 11.05. Nothing contained in this Section 11.05 shall require a party, its Representatives or its Permitted Recipients to alter its normal record retention policies. 
  
 (f) This Section 11.05 constitutes the entire agreement among the
parties hereto as to its subject matter, and supersedes any prior oral or written agreements on that subject matter (including the Confidentiality Agreements between EDS and each Managing Agent) relating to the possibility of such Managing
Agent’s participation in financing for the NMCI Contract. This Section 11.05 shall remain in effect for a period of two years after the date on which the Obligations are paid in full, and shall then automatically terminate and expire.

  
 (g) Each party hereto understands and agrees that money
damages may not be a sufficient remedy for any violation of this Section 11.05 and that the respective party may seek specific performance and temporary, preliminary and/or permanent injunctive or other equitable relief as a remedy for any
violation or prospective violation of this Section 11.05. None of the parties hereto, their respective Representatives and the Permitted Recipients shall be liable for punitive, consequential, exemplary or indirect damages resulting from any
release or disclosure of Restricted Confidential Information. For the avoidance of doubt, any noncompliance by an Investor Party of this Section 11.05 with respect to any EDS Restricted Confidential Information or any De-Linked Information
may be waived in writing by EDS acting alone, and any noncompliance by an EDS Party of this Section 11.05 with respect to any Investor Restricted Confidential Information may be waived in writing by the related Managing Agent, acting alone.

  
 (h) Notwithstanding the foregoing paragraphs of this Section,
any party to the transactions contemplated in the Transaction Documents (and each Representative and Permitted Recipient of the foregoing), may disclose to any and all Persons, without limitation of any kind, the tax treatment and tax structure of
such transaction and all materials of any kind (including opinions or other tax analyses) that are provided to such party or its Representative or Permitted Recipient relating to such tax treatment and tax structure except to the extent maintaining
such confidentiality is necessary to comply with any applicable federal or state securities laws. The preceding sentence is intended to cause the transactions contemplated under the Transaction Documents to be treated as not having been offered
under conditions of confidentiality for purposes of Section 1.6011-4(b)(3) (or any successor provision) of the Treasury Regulations promulgated under Section 6011 of the Internal Revenue Code of 1986, as amended, and shall be construed in a manner
consistent with such purpose. 
  
 SECTION 11.06. GOVERNING LAW;
JURISDICTION. THIS NOTE PURCHASE AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE 
  

 44 

 WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS. EACH OF THE PARTIES TO THIS
NOTE PURCHASE AGREEMENT HEREBY AGREES TO THE NON-EXCLUSIVE JURISDICTION OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK AND ANY APPELLATE COURT HAVING JURISDICTION TO REVIEW THE JUDGMENTS THEREOF. EACH OF THE PARTIES HEREBY
WAIVES ANY OBJECTION BASED ON FORUM NON CONVENIENS AND ANY OBJECTION TO VENUE OF ANY ACTION INSTITUTED HEREUNDER IN ANY OF THE AFOREMENTIONED COURTS. 
  
 SECTION 11.07. WAIVER OF JURY TRIAL. EACH PARTY TO THIS NOTE PURCHASE AGREEMENT WAIVES ITS RESPECTIVE RIGHTS TO A TRIAL BY JURY OF
ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF OR RELATED TO THIS NOTE PURCHASE AGREEMENT OR ANY OTHER TRANSACTION DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY, IN ANY ACTION, PROCEEDING OR OTHER LITIGATION OF ANY TYPE
BROUGHT BY ANY OF THE PARTIES AGAINST ANY OTHER PARTY OR INDEMNIFIED PARTY, WHETHER WITH RESPECT TO CONTRACT CLAIMS, TORT CLAIMS, OR OTHERWISE. THE PARTIES HERETO EACH AGREE THAT ANY SUCH CLAIM OR CAUSE OF ACTION SHALL BE TRIED BY A COURT TRIAL
WITHOUT A JURY. WITHOUT LIMITING THE FOREGOING, EACH OF THE PARTIES HERETO FURTHER AGREES THAT ITS RESPECTIVE RIGHT TO A TRIAL BY JURY IS WAIVED BY OPERATION OF THIS SECTION AS TO ANY ACTION, COUNTERCLAIM OR OTHER PROCEEDING WHICH SEEKS, IN WHOLE OR
IN PART, TO CHALLENGE THE VALIDITY OR ENFORCEABILITY OF THIS NOTE PURCHASE AGREEMENT OR ANY OTHER TRANSACTION DOCUMENT OR ANY PROVISION HEREOF OF THEREOF. THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, AMENDMENTS AND RESTATEMENTS, OR
MODIFICATIONS TO THIS NOTE PURCHASE AGREEMENT OR ANY OTHER TRANSACTION DOCUMENT (INCLUDING ANY EXTENSION OF THE COMMITMENT TERMINATION DATE). 
  
 SECTION 11.08. No Proceedings. 
  
 (a) Each of the Servicer and the Issuer agree that so long as any privately or publicly placed indebtedness for borrowed money of a Conduit Purchaser
shall be outstanding or there shall not have elapsed one year plus one day since the last day on which any privately or publicly placed indebtedness for borrowed money of a Conduit Purchaser shall have been outstanding, it shall not file, or join in
the filing of, cooperate with any Person in the filing of, or encourage any Person with respect to the filing of a petition against such Conduit Purchaser or the Issuer under the Federal Bankruptcy Code, or join in the commencement of any
bankruptcy, reorganization, arrangement, insolvency, liquidation or other similar proceeding against such Conduit Purchaser or the Issuer. 
  
 (b) Each member of each Ownership Group agrees that until one year plus one day since the last day on which any commercial paper of a Conduit Purchaser
shall have been outstanding, it shall not file, or join in the filing of, cooperate with any Person in the filing of, or 
  

 45 

 encourage any Person with respect to the filing of a petition against such Conduit Purchaser under the Federal Bankruptcy
Code, or join in the commencement of any bankruptcy, reorganization, arrangement, insolvency, liquidation or other similar proceeding against such Conduit Purchaser; provided that such prohibition shall not apply to any Conduit Purchaser
taking any such action as to itself. 
  
 (c) Each Owner severally
agrees that it shall not at any time file, or join in the filing of, cooperate with any Person in the filing of, or encourage any Person with respect to the filing of a petition against the Issuer under the Federal Bankruptcy Code, or join in the
commencement of any bankruptcy, reorganization, arrangement, insolvency, liquidation or other similar proceeding against the Issuer. 
  
 (d) The provisions of this Section shall survive the termination of this Note Purchase Agreement. 
  
 SECTION 11.09. Execution in Counterparts. This Note Purchase Agreement
may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which when taken together shall constitute one and the same
agreement. 
  
 SECTION 11.10. No Recourse. (a) The
obligations of a Conduit Purchaser under this Note Purchase Agreement, or any other agreement, instrument, document or certificate executed and delivered by or issued by a Conduit Purchaser or any officer thereof are solely the corporate or
partnership obligations of such Conduit Purchaser. No recourse shall be had for payment of any fee or other obligation or claim arising out of or relating to this Note Purchase Agreement or any other agreement, instrument, document or Note executed
and delivered or issued by a Conduit Purchaser or any officer thereof in connection therewith, against any stockholder, limited partner, employee, officer, director or incorporator of such Conduit Purchaser. 
  
 (b) Notwithstanding any provisions contained in this Note Purchase Agreement
to the contrary, no Conduit Purchaser shall, and shall be obligated not to, pay any amount pursuant to this Note Purchase Agreement unless (i) such Conduit Purchaser has received funds which may be used to make such payment and which funds are not
required to repay its commercial paper notes when due and (ii) after giving effect to such payment, either (x) such Conduit Purchaser could issue commercial paper notes to refinance all of its outstanding commercial paper notes (assuming such
outstanding commercial paper notes matured at such time) in accordance with the program documents governing such Conduit Purchaser’s securitization program or (y) all of such Conduit Purchaser’s commercial paper notes are paid in full. Any
amount which such Conduit Purchaser does not pay pursuant to the operation of the preceding sentence shall not constitute a claim (as defined in §101 of the United States Bankruptcy Code) against or until such Conduit Purchaser satisfies the
provisions of clauses (i) and (ii) above. The provisions of this Section shall survive the termination of this Agreement. 
  
 SECTION 11.11. Survival. All representations, warranties, covenants, guaranties and indemnifications contained in this Note Purchase
Agreement, or in any other Transaction Document and in any document, certificate or statement delivered pursuant hereto or thereto or in connection herewith or therewith shall survive the sale, transfer or repayment of the Note. 
  

 46 

 SECTION 11.12. Tax Characterization. Each party to this Note Purchase Agreement (a) acknowledges
and agrees that it is the intent of the parties to this Note Purchase Agreement that, for federal, state and local income and franchise tax purposes, the Note will be treated as evidence of indebtedness secured by the Collateral and proceeds thereof
and the Issuer will be disregarded as an entity separate from the owner of the Equity Certificate and will not be characterized as an association (or publicly traded partnership) taxable as a corporation, (b) agrees to treat the Note for federal,
state and local income and franchise tax purposes as indebtedness, unless and until an applicable taxing authority requires otherwise, or, in the case of an Owner, unless and until such Owner determines in good faith, based upon a change in the
applicable tax law after the Funding Date, that no substantial authority (within the meaning of Code Section 6662 and the Treasury regulations promulgated thereunder) exists for such treatment and (c) agrees that the provisions of this Note Purchase
Agreement and all related Transaction Documents shall be construed to further these intentions of the parties. 
  

 47 

 IN WITNESS WHEREOF, the parties have caused this Note Purchase Agreement to be executed by their
respective officers thereunto duly authorized, as of the date first above written. 
  

	
	GOVERNMENT CONTRACT RECEIVABLES NOTE TRUST, as the Issuer
	
	 By: THE BANK OF NEW YORK (DELAWARE), not in its individual capacity, but solely
 as Owner Trustee

	
	 By: /S/ PATRICK BURNS

	       Name: Patrick Burns

	       Title:   Senior Vice President

	
	 ELECTRONIC DATA SYSTEMS
 CORPORATION,

	 as a Seller

	
	 By: /S/ SCOTT J. KRENZ

	       Name: Scott J. Krenz

	       Title:   Treasurer

	
	 EDS INFORMATION SERVICES L.L.C.,

	 as the Servicer and as a Seller

	
	 By: /S/ SCOTT J. KRENZ

	       Name: Scott J. Krenz

	       Title:   Treasurer

  
  

 S-1 

	
	 U.S. BANK NATIONAL ASSOCIATION, as
 successor in interest to State Street Bank and Trust
 Company, as the Indenture
Trustee

	
	 By: /S/ SUSAN C. MERKER

	       Name: Susan C. Merker

	       Title:   Vice President

	
	 CREDIT SUISSE FIRST BOSTON,
 NEW YORK BRANCH, as
Administrative Agent

	
	 By: /S/ BRUCE T. MILLER

	       Name: Bruce T. Miller

	       Title: Director

	
	 By: /S/ JOSH BORG

	       Name: Josh Borg

	       Title: Vice President

  
  

 S-2 

	
	 ALPINE SECURITIZATION CORP.,
 as Conduit Purchaser

	
	 By: Credit Suisse First Boston, New York
        Branch, its Attorney-in-Fact

	
	 By: /S/ MARK LENGEL

	       Name: Mark Lengel

	       Title:   Director

	
	 By: /S/ JOSEPH SOAVE

	       Name: Joseph Soave

	       Title:   Vice President

	
	 GREENWICH FUNDING CORPORATION,
 as Conduit Purchaser

	
	 By: Credit Suisse First Boston, New York
        Branch, its Attorney-in-Fact

	
	 By: /S/ MARK LENGEL

	       Name: Mark Lengel

	       Title:   Director

	
	 By: /S/ JOSEPH SOAVE

	       Name: Joseph Soave

	       Title:   Vice President

	
	 GRAMERCY CAPITAL CORPORATION,
 as Conduit Purchaser

	
	 By: Credit Suisse First Boston, New York
        Branch, its Attorney-in-Fact

	
	 By: /S/ MARK LENGEL

	       Name: Mark Lengel

	       Title:   Director

	
	 By: /S/ JOSEPH SOAVE

	       Name: Joseph Soave

	       Title:   Vice President

  

 S-3 

	
	 CREDIT SUISSE FIRST BOSTON,
 NEW YORK BRANCH, as Managing Agent for the CSFB Ownership Group

	
	 By: /S/ BRUCE T. MILLER

	       Name: Bruce T. Miller

	       Title:   Director

	
	 By: /S/ JOSH BORG

	       Name: Josh Borg

	       Title:   Vice President

	
	 CREDIT SUISSE FIRST BOSTON,
 NEW YORK BRANCH, as an Alternate Transferee in the CSFB Ownership Group

	
	 By: /S/ BRUCE T. MILLER

	       Name: Bruce T. Miller

	       Title:   Director

	
	 By: /S/ JOSH BORG

	       Name: Josh Borg

	       Title:   Vice President

	
	 Percentage: 100%

  

 S-3(a) 

	
	 BRYANT PARK FUNDING LLC,
 as Conduit Purchaser

	
	 By: /S/ ANDREW YEARDE

	       Name: Andrew Yearde

	       Title:   Vice President

	
	 HSBC SECURITIES (USA) INC.,
 as Managing Agent for the HSBC Ownership
 Group

	
	 By: /S/ CHRISTINE DALTON

	       Name: Christine Dalton

	       Title:   Vice President

	
	 HSBC BANK USA,
 as an Alternate Transferee in the HSBC Ownership Group

	
	 By: /S/ DAVID WAGSTAFF

	       Name: David Wagstaff

	       Title:   First Vice President

	
	 Percentage: 100%

  

 S-4 

	
	 AMSTERDAM FUNDING CORPORATION,
 as Conduit
Purchaser

	
	 By: /S/ BERNARD J. ANGELO

	       Name: Bernard J. Angelo

	       Title:   Vice President

	
	 ABN AMRO BANK N.V., as Managing Agent
 for the ABN
Ownership Group

	
	 By: /S/ KEVIN G. PILZ

	       Name: Kevin G. Pilz

	       Title:   Vice President

	
	 By: /S/ S. SEAN CHEN

	       Name: S. Sean Chen

	       Title:   Senior Vice President

	
	 ABN AMRO BANK N.V.,
 as an Alternate Transferee in the
ABN Ownership
 Group

	
	 By: /S/ KEVIN G. PILZ

	       Name: Kevin G. Pilz

	       Title:   Vice President

	
	 By: /S/ S. SEAN CHEN

	       Name: S. Sean Chen

	       Title:   Senior Vice President

	
	 Percentage: 100%

  

 S-5 

	
	 GEMINI SECURITIZATION CORP.,
 as Conduit Purchaser

	
	 By: /S/ R. DOUGLAS DONALDSON

	       Name: R. Douglas Donaldson

	       Title:   Treasurer

	
	 DEUTSCHE BANK, AG, NEW YORK BRANCH,
 as Managing Agent
for the DB Ownership Group

	
	 By: /S/ WILLIAM W. MCGINTY

	       Name: William W. McGinty

	       Title:   Director

	
	 By: /S/ PETER ESCHMANN

	       Name: Peter Eschmann

	       Title: Vice President

	
	 DEUTSCHE BANK, AG, NEW YORK BRANCH,
 as an Alternate
Transferee in the DB Ownership Group

	
	 By: /S/ WILLIAM W. MCGINTY

	       Name: William W. McGinty

	       Title: Director

	
	 By: /S/ PETER ESCHMANN

	       Name: Peter Eschmann

	       Title:   Vice President

	
	 Percentage: 100%

  
  

 S-6 

			
	 GENERAL ELECTRIC CAPITAL
 CORPORATION,

	as Managing Agent for the GE Ownership Group
		
	 By:
	 	 /S/ JAY A. PAGE

	 	 	 Name: Jay A. Page

	 	 	 Title:   Chief Risk Officer

	
	 GENERAL ELECTRIC CAPITAL
 CORPORATION,

	as a Committed Purchaser in the GE Ownership Group
		
	 By:
	 	 /S/ JAY A. PAGE

	 	 	 Name: Jay A. Page

	 	 	 Title:   Chief Risk Officer

	
	 Percentage: 100%

  

 S-7AMENDED AND RESTATED INDENTURE

 Exhibit 10.2 
  
 EXECUTION VERSION 
  
 AMENDED AND RESTATED INDENTURE 
  
 among 
  
 GOVERNMENT CONTRACT RECEIVABLES NOTE TRUST 
  
 Issuer, 
  
 EDS INFORMATION SERVICES L.L.C., 
  
 Servicer,

  
 ELECTRONIC DATA SYSTEMS CORPORATION, 
  
 as a Seller and as Guarantor 
  
 and 
  
 U.S. BANK NATIONAL ASSOCIATION, 
 as successor in interest to 
 State Street Bank and Trust Company 
  
 Indenture Trustee, 
  
 Dated as of October 22, 2003 

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page

	 ARTICLE I     DEFINITIONS
	  	4
			
	         Section 1.1.
	  	 Definitions
	  	4
			
	         Section 1.2.
	  	 Other Definitional Provisions
	  	4
		
	 ARTICLE II     THE NOTES
	  	4
			
	         Section 2.1.
	  	 Form Generally
	  	4
			
	         Section 2.2.
	  	 Denominations; Related Provisions
	  	5
			
	         Section 2.3.
	  	 Execution, Authentication and Delivery
	  	5
			
	         Section 2.4.
	  	 Registration of and Limitations on Transfer and Exchange of Notes
	  	5
			
	         Section 2.5.
	  	 Mutilated, Destroyed, Lost or Stolen Notes
	  	7
			
	         Section 2.6.
	  	 Persons Deemed Owners
	  	8
			
	         Section 2.7.
	  	 Appointment of Paying Agent
	  	8
			
	         Section 2.8.
	  	 Access to List of Noteholders’ Names and Addresses
	  	8
			
	         Section 2.9.
	  	 Cancellation
	  	9
			
	         Section 2.10.
	  	 Meetings of Noteholders
	  	9
		
	 ARTICLE III    REPRESENTATIONS AND COVENANTS OF ISSUER
	  	9
			
	         Section 3.1.
	  	 Payment of Principal and Interest
	  	9
			
	         Section 3.2.
	  	 Compliance with Law
	  	10
			
	         Section 3.3.
	  	 Delivery of Collections
	  	10
			
	         Section 3.4.
	  	 Inspection of Books and Records
	  	10
			
	         Section 3.5.
	  	 Maintenance of Office or Agency
	  	10
			
	         Section 3.6.
	  	 Domicile
	  	11
			
	         Section 3.7.
	  	 Money for Note Payments to Be Held in Trust
	  	11
			
	         Section 3.8.
	  	 Existence
	  	11
			
	         Section 3.9.
	  	 Protection of Collateral
	  	11
			
	         Section 3.10.
	  	 Opinions as to Collateral
	  	12
			
	         Section 3.11.
	  	 Performance of Obligations; Servicing of Receivables
	  	12
			
	         Section 3.12.
	  	 Negative Covenants
	  	13
			
	         Section 3.13.
	  	 Issuer May Consolidate, Etc., Only on Certain Terms
	  	14
			
	         Section 3.14.
	  	 Successor Substituted
	  	14
			
	         Section 3.15.
	  	 No Other Business
	  	14

					
	         Section 3.16.
	  	 Servicer’s Obligations
	  	15
			
	         Section 3.17.
	  	 Investments
	  	15
			
	         Section 3.18.
	  	 Capital Expenditures
	  	15
			
	         Section 3.19.
	  	 Restricted Payments
	  	15
			
	         Section 3.20.
	  	 Notice of Events of Default
	  	15
			
	         Section 3.21.
	  	 Further Instruments and Acts
	  	15
		
	 ARTICLE IV    CONFLICT WITH OTHER SECURITY AGREEMENT
	  	15
		
	 ARTICLE V    EVENTS OF DEFAULT
	  	16
			
	         Section 5.1.
	  	 Events of Default
	  	16
			
	         Section 5.2.
	  	 Acceleration of Maturity; Rescission and Annulment
	  	18
			
	         Section 5.3.
	  	 Collection of Indebtedness and Suits for Enforcement by Indenture Trustee
	  	18
			
	         Section 5.4.
	  	 Remedies; Priorities
	  	20
			
	         Section 5.5.
	  	 RESERVED
	  	22
			
	         Section 5.6.
	  	 Limitation on Suits
	  	22
			
	         Section 5.7.
	  	 Unconditional Rights of Noteholders to Receive Principal and Interest
	  	22
			
	         Section 5.8.
	  	 Restoration of Rights and Remedies
	  	22
			
	         Section 5.9.
	  	 Rights and Remedies Cumulative
	  	23
			
	         Section 5.10.
	  	 Delay or Omission Not Waiver
	  	23
			
	         Section 5.11.
	  	 Right to Direct Indenture Trustee
	  	23
			
	         Section 5.12.
	  	 Waiver of Past Defaults
	  	23
			
	         Section 5.13.
	  	 Undertaking for Costs
	  	23
			
	         Section 5.14.
	  	 Waiver of Stay or Extension Laws
	  	24
			
	         Section 5.15.
	  	 Sale of Collateral
	  	24
			
	         Section 5.16.
	  	 Action on Notes
	  	24
		
	 ARTICLE VI    THE INDENTURE TRUSTEE
	  	25
			
	         Section 6.1.
	  	 Duties of the Indenture Trustee
	  	25
			
	         Section 6.2.
	  	 Notice of Event of Default
	  	26
			
	         Section 6.3.
	  	 Rights of Indenture Trustee
	  	26
			
	         Section 6.4.
	  	 Not Responsible for Recitals or Issuance of Notes
	  	28
			
	         Section 6.5.
	  	 Restrictions on Holding Notes
	  	28
			
	         Section 6.6.
	  	 Money Held in Trust
	  	28

					
	         Section 6.7.
	  	 Compensation, Reimbursement and Indemnification
	  	28
			
	         Section 6.8.
	  	 Replacement of Indenture Trustee
	  	29
			
	         Section 6.9.
	  	 Successor Indenture Trustee by Merger
	  	30
			
	         Section 6.10.
	  	 Appointment of Co-Indenture Trustee or Separate Indenture Trustee
	  	30
			
	         Section 6.11.
	  	 Eligibility; Disqualification
	  	32
			
	         Section 6.12.
	  	 Representations and Covenants of the Indenture Trustee
	  	32
			
	         Section 6.13.
	  	 Custody of the Collateral
	  	32
		
	 ARTICLE VII    NOTEHOLDERS’ LIST AND REPORTS BY INDENTURE TRUSTEE AND ISSUER
	  	32
			
	         Section 7.1.
	  	 Issuer to Furnish Indenture Trustee Names and Addresses of Noteholders
	  	32
			
	         Section 7.2.
	  	 Preservation of Information; Communications to Noteholders
	  	33
		
	 ARTICLE VIII    ALLOCATION AND APPLICATION OF COLLECTIONS
	  	33
			
	         Section 8.1.
	  	 Collection of Money
	  	33
			
	         Section 8.2.
	  	 Rights of Noteholders
	  	34
			
	         Section 8.3.
	  	 Establishment of the Operations Account
	  	34
			
	         Section 8.4.
	  	 Collections, Allocations and Distributions
	  	35
			
	         Section 8.5.
	  	 Release of Collateral; Eligible Loan Documents
	  	38
			
	         Section 8.6.
	  	 Opinion of Counsel
	  	39
		
	 ARTICLE IX    REPORTS TO NOTEHOLDERS
	  	40
		
	 ARTICLE X    SUPPLEMENTAL INDENTURES
	  	40
			
	         Section 10.1.
	  	 Supplemental Indentures
	  	40
			
	         Section 10.2.
	  	 Execution of Supplemental Indentures
	  	41
			
	         Section 10.3.
	  	 Effect of Supplemental Indenture
	  	42
			
	         Section 10.4.
	  	 Reference in Notes to Supplemental Indentures
	  	42
		
	 ARTICLE XI    TERMINATION
	  	42
			
	         Section 11.1.
	  	 Termination of the Issuer
	  	42
			
	         Section 11.2.
	  	 Optional Redemption
	  	42
			
	         Section 11.3.
	  	 Final Distribution
	  	42
			
	         Section 11.4.
	  	 Issuer’s Termination Rights
	  	43
		
	 ARTICLE XII    MISCELLANEOUS
	  	44
			
	         Section 12.1.
	  	 Compliance Certificates and Opinions etc
	  	44

					
	         Section 12.2.
	  	 Form of Documents Delivered to Indenture Trustee
	  	44
			
	         Section 12.3.
	  	 Acts of Noteholders
	  	45
			
	         Section 12.4.
	  	 Notices
	  	46
			
	         Section 12.5.
	  	 Alternate Payment and Notice Provisions
	  	47
			
	         Section 12.6.
	  	 Effect of Headings and Table of Contents
	  	47
			
	         Section 12.7.
	  	 Successors and Assigns
	  	48
			
	         Section 12.8.
	  	 Separability
	  	48
			
	         Section 12.9.
	  	 Benefits of Indenture
	  	48
			
	         Section 12.10.
	  	 Legal Holidays
	  	48
			
	         Section 12.11.
	  	 GOVERNING LAW
	  	48
			
	         Section 12.12.
	  	 Counterparts
	  	48
			
	         Section 12.13.
	  	 Issuer Obligation
	  	48
			
	         Section 12.14.
	  	 No Petition
	  	49

 AMENDED AND RESTATED INDENTURE, dated as of October 22, 2003, among Government Contract Receivables Note
Trust, a Delaware business trust, as Issuer, EDS Information Services L.L.C., a Delaware limited liability company, as Servicer, Electronic Data Systems Corporation, a Delaware corporation, as a Seller and as Guarantor and U.S. Bank National
Association, as successor in interest to State Street Bank and Trust Company, a national banking association, as Indenture Trustee (the “Indenture”). 
  
 This Indenture amends and restates in its entirety that certain Indenture, dated as of September 19, 2001, as supplemented
on November 7, 2001, December 31, 2001 and December 18, 2002, each among Government Contract Receivables Note Trust, EDS Information Services L.L.C., as Servicer, Electronic Data Systems Corporation, as a Seller and as Guarantor and State Street
Bank and Trust Company, as Indenture Trustee (the “Original Indenture”). Upon the effectiveness of this Indenture, the terms and provisions of the Original Indenture shall, subject to the provisions of this paragraph, be superseded in
their entirety by this Indenture. 
  
 In addition, notwithstanding
the amendment and restatement of the Original Indenture by this Indenture, each of the parties to the Original Indenture shall continue to be liable to each of the other parties to the Original Indenture under the terms of the Original Indenture for
all unpaid amounts payable to any such party and all agreements to indemnify any party in connection with events or conditions arising or existing prior to the effective date of this Indenture. Upon the effectiveness of this Indenture, each
reference to the Original Indenture in any other document, instrument or Indenture shall mean and be a reference to this Indenture unless otherwise expressly provided. Nothing contained herein, unless expressly herein stated to the contrary, is
intended to amend, modify or otherwise effect any other instrument, document or Indenture executed and/or delivered in connection with the Original Indenture. 
  

PRELIMINARY STATEMENT 
  
 The Issuer has duly authorized the execution and delivery of this Indenture to provide for an issue of its asset backed notes as provided in this
Indenture. All covenants and agreements made by the Issuer herein are for the benefit and security of the Noteholders. The Issuer is entering into this Indenture, and the Indenture Trustee is accepting the trusts created hereby, for good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged. 
  
 On or prior to the delivery of this Indenture, the Issuer is entering into a Sale and Servicing Agreement with EDS, as Seller and EIS, as Seller and Servicer pursuant to which, among other things, (a) each of the
Sellers has conveyed to the Issuer all of its respective right, title and interest (pursuant to which EDS has certain obligations, including the obligation to provide equipment to the NMCI Contract Obligor) in, to and under the Contract Payments
arising in the NMCI Contract from time to time and (b) the Servicer has agreed to service the Contract Payments and make collections thereon on behalf of the Noteholders. 
  
 GRANTING CLAUSE 
  
 The Issuer hereby Grants to the Indenture Trustee, for the benefit of the Noteholders and the Hedge Counterparty, and to secure the repayment of the
Obligations, all of the Issuer’s right, title and interest, whether now owned or hereafter acquired, in, to and under (a) the Contract 
  

 2 

 Payments, (b) the Subject Equipment (subject to the rights of the NMCI Contract Obligor in and to the Subject Equipment
and the use thereof under the terms of the NMCI Contract, including the option of the NMCI Contract Obligor to acquire the Subject Equipment or any part thereof set forth in Section 1.2.2 of the NMCI Contract), (c) all recoveries and proceeds of
claims under the insurance policies related to and all money, instruments, investment property and other property distributed or distributable in respect of (together with all earnings, dividends, distributions (for the avoidance of doubt, which
does not include distributions made under Section 8.4(b) of this Indenture), income, issues, and profits relating to) the Contract Payments and the Subject Equipment pursuant to the terms of the Sale and Servicing Agreement and this
Indenture; (d) all Permitted Investments and all money, investment property, instruments and other property on deposit from time to time in, credited to or related to the Operations Account (including any subaccounts of any such account), and in all
interest, dividends, earnings, income and other distributions from time to time received, receivable or otherwise distributed or distributable thereto or in respect thereof (including any accrued discount realized on liquidation of any investment
purchased at a discount); (e) all rights, remedies, powers, privileges and claims of the Issuer under or with respect to any Hedge Agreement, the Trust Agreement, the Administration Agreement, the Contract Payments Assignment and the Sale and
Servicing Agreement (whether arising pursuant to the terms of the Sale and Servicing Agreement, the Contract Payments Assignment, any Hedge Agreement, the Trust Agreement, the Administration Agreement or otherwise available to the Issuer at law or
in equity), including the rights of the Issuer to enforce the Sale and Servicing Agreement, the Contract Payments Assignment, the Administration Agreement and each Hedge Agreement, and to give or withhold any and all consents, requests, notices,
directions, approvals, extensions or waivers under or with respect to the Sale and Servicing Agreement, the Contract Payments Assignment, the Trust Agreement, the Administration Agreement and each Hedge Agreement to the same extent as the Issuer
could but for the assignment and security interest granted to the Indenture Trustee for the benefit of the Noteholders; (f) all money, accounts, general intangibles, chattel paper, instruments, documents, goods, investment property, deposit
accounts, certificates of deposit, letters of credit, and advices of credit consisting of, arising from or related to the foregoing; (g) all other property of the Issuer; (h) all present and future claims, demands, causes and choses in action in
respect of any or all of the foregoing and all payments on or under and all proceeds of every kind and nature whatsoever in respect of any or all of the foregoing, including all proceeds, products, rents, receipts or profits of the conversion,
voluntary or involuntary, into cash or other property, all cash and non-cash proceeds, and other property consisting of, arising from or relating to all or any part of any of the foregoing; and (i) any proceeds of the foregoing (collectively, the
“Collateral”). 
  
 LIMITED RECOURSE

  
 Notwithstanding anything in this agreement, the Note
Purchase Agreement, the Notes or in any other Transaction Document to the contrary, but without limiting the rights of the Indenture Trustee or the Noteholders in accordance with and subject to the terms of this Indenture, the Notes or any other
Transaction Document, the sole source of payment and satisfaction of the Issuer’s obligations hereunder and under the other Transaction Documents shall be the Collateral. 
  

 3 

 ARTICLE I 
  
 DEFINITIONS 
  
 Section 1.1. Definitions. 
  
 Capitalized terms used herein are defined in Annex A. 
  
 Section 1.2. Other Definitional Provisions. All terms defined directly or by reference in this Indenture shall have the defined meanings when used
in any certificate or other document delivered pursuant hereto unless otherwise defined therein. For purposes of this Indenture and all such certificates and other documents, unless the context otherwise requires: (i) accounting terms not otherwise
defined in this Indenture, and accounting terms partly defined in this Indenture to the extent not defined, shall have the respective meanings given to them under generally accepted accounting principles; (ii) terms defined in Article 9 of the UCC
as in effect in the State of New York and not otherwise defined in this Indenture are used as defined in that Article; (iii) references to any amount as on deposit or outstanding on any particular date means such amount at the close of business on
such day; (iv) the words “hereof,” “herein” and “hereunder” and words of similar import refer to this Indenture (or the certificate or other document in which they are used) as a whole and not to any particular
provision of this Indenture (or such certificate or document); (v) references to any Article, Section, Schedule or Exhibit are references to Articles, Sections, Schedules and Exhibits in or to this Indenture (or the certificate or other document in
which the reference is made), and references to any paragraph, subsection, clause or other subdivision within any Section or definition refer to such paragraph, subsection, clause or other subdivision of such Section or definition; (vi) the term
“including” means “including without limitation”; (vii) references to any law or regulation refer to that law or regulation as amended from time to time and include any successor law or regulation; (viii) references to any Person
include that Person’s successors and assigns; and (ix) headings are for purposes of reference only and shall not otherwise affect the meaning or interpretation of any provision hereof; (x) the singular includes the plural and vice versa; and
(xi) reference to any gender includes a reference to the other gender. 
  
 ARTICLE II 
  
 THE NOTES 
  
 Section 2.1. Form Generally. The Notes will be issued in fully
registered definitive form and shall be in substantially the form of Exhibit 2.1 with such appropriate insertions, omissions, substitutions and other variations as are required or permitted by this Indenture, and may have such letters,
numbers or other marks of identification and such legends or endorsements placed thereon, as may, consistently herewith, be determined by the officers executing such Notes, as evidenced by their execution of such Notes. Any portion of the text of
any Note may be set forth on the reverse thereof, with an appropriate reference thereto on the face of the Note. 
  
 The Notes shall be registered in the Note Register in the name of each Managing Agent. 
  

 4 

 The Notes shall be typewritten, printed, lithographed or engraved or produced by any combination of these
methods, all as determined by the officers executing such Notes, as evidenced by their execution of such Notes. 
  
 Each Note will be dated the Funding Date. 
  
 Section 2.2. Denominations; Related Provisions. Notes shall be issued in fully registered definitive form in minimum amounts of $1,000 and in
integral multiples of $1,000 in excess thereof (except that one Note may be issued in a different amount, so long as such amount exceeds the applicable minimum denomination). The Notes shall evidence the Advances made by the Noteholders pursuant to
the Note Purchase Agreement. The aggregate Stated Amount of Notes that may be Outstanding at any time is limited to the Maximum Amount. The Indenture Trustee shall record on the Note Register, the Person in whose name each Note is issued, the Note
Initial Principal Amount of such Note and all Advances allocated to such Note as notified to it by the Issuer pursuant to Section 2.03(e) of the Note Purchase Agreement, and all payments made to each Managing Agent pursuant to Section
8.4(b) of this Indenture and applied to reduce the principal amount of such Note as notified by the Servicer to the Indenture Trustee in the Monthly Report. The Indenture Trustee shall use this information to calculate the Outstanding Principal
Balance of a Note if required to do so for the purposes of this Indenture. 
  
 Section 2.3. Execution, Authentication and Delivery. Each Note shall be executed by manual or facsimile signature on behalf of the Issuer by an Authorized Officer. 
  
 Notes bearing the manual or facsimile signature of an individual who was, at
the time when such signature was affixed, authorized to sign on behalf of the Issuer shall not be rendered invalid, notwithstanding the fact that such individual ceased to be so authorized prior to the authentication and delivery of such Notes or
does not hold such office at the date of issuance of such Notes. 
  
 The Issuer will deliver the Notes executed by the Issuer to the Indenture Trustee for authentication and delivery, and the Indenture Trustee shall authenticate at the written direction of the Issuer and deliver the Notes to or upon the
written order of the Issuer when so authenticated. 
  
 No Note
shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by or on behalf of the
Indenture Trustee by the manual signature of a duly authorized signatory, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder. 
  
 Section 2.4. Registration of and Limitations on Transfer and Exchange of
Notes. The Issuer shall cause to be kept a register at the Corporate Trust Office of the Indenture Trustee (the “Note Register”) in which the Issuer shall provide for the registration of Notes and the registration of transfers
of Notes. The Indenture Trustee initially shall be the transfer agent and registrar (in such capacity, the “Transfer Agent and Registrar”) for the purpose of registering Notes and transfers of Notes as herein provided. Upon any
resignation of any Transfer Agent 
  

 5 

 and Registrar, the Issuer shall promptly appoint a successor or, if it elects not to make such an appointment, assume the
duties of Transfer Agent and Registrar. 
  
 If a Person other than
the Indenture Trustee is appointed by the Issuer as Transfer Agent and Registrar, the Issuer will give the Indenture Trustee prompt written notice of the appointment of a Transfer Agent and Registrar and of the location, and any change in the
location, of the Transfer Agent and Registrar and Note Register. The Indenture Trustee shall have the right to inspect the Note Register at all reasonable times and to obtain copies thereof, and the Indenture Trustee shall have the right to
conclusively rely upon a certificate executed on behalf of the Transfer Agent and Registrar by an officer thereof as to the names and addresses of the Noteholders and the principal amounts and numbers of such Notes. 
  
 Upon surrender for registration of transfer of any Note at the office or
agency of the Transfer Agent and Registrar, to be maintained as provided in Section 3.5, if the requirements of Section 8-401 of the UCC are met as certified by the Servicer to the Indenture Trustee, the Issuer shall execute, and upon receipt
of such surrendered Note the Indenture Trustee shall authenticate and deliver to the Noteholder, in the name of the designated transferee or transferees, one or more new Notes in any authorized denominations of like aggregate principal amount.

  
 At the option of a Noteholder, Notes may be exchanged for
other Notes in any authorized denominations and of like aggregate principal amount, upon surrender of such Notes to be exchanged at the office or agency of the Transfer Agent and Registrar. Whenever any Notes are so surrendered for exchange, if the
requirements of Section 8-401 of the UCC are met as certified by the Servicer to the Indenture Trustee, the Issuer shall execute, and upon receipt of such surrendered Note the Indenture Trustee shall authenticate and deliver to the Noteholder, the
Notes which the Noteholder making the exchange is entitled to receive. 
  
 The Notes have not been registered or qualified under the Securities Act or the securities laws of any state. No transfer of any Note may be made unless such transfer is made pursuant to an effective registration statement under the
Securities Act and registration or qualification under applicable state securities laws or is exempt from such registration or qualification. 
  
 All Notes issued upon any registration of transfer or exchange of Notes shall evidence the same obligations, evidence the same debt, and be entitled to
the same rights and privileges under this Indenture, as the Notes surrendered upon such registration of transfer or exchange. 
  
 Every Note presented or surrendered for registration of transfer or exchange shall be duly endorsed by, or be accompanied by a written instrument of
transfer in a form satisfactory to the Issuer and the Indenture Trustee duly executed by, the Noteholder thereof or its attorney-in-fact duly authorized in writing, and by such other documents as the Indenture Trustee may reasonably require.

  
 Any Note held by a Seller at any time after the date of its
initial issuance may be transferred or exchanged only upon the delivery to the Issuer and the Indenture Trustee of a Tax Opinion dated as of the date of such transfer or exchange, as the case may be, with respect to such transfer or exchange.

  

 6 

 No service charge shall be made for any registration of transfer or exchange of Notes, but the Issuer and
the Transfer Agent and Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any registration of transfer or exchange of such Notes. 
  
 All Notes surrendered for registration of transfer and exchange shall be
canceled by the Issuer and delivered to the Indenture Trustee for subsequent destruction without liability on the part of either. 
  
 The preceding provisions of this Section 2.4 notwithstanding, the Issuer shall not be required to make, and the Transfer Agent and Registrar need
not register, transfers or exchanges of Notes for a period of five Business Days preceding the due date for any payment with respect to the Note. 
  
 No transfer of any Note, or of the right of any transferee of any Note to receive any payments of principal or interest under that Note, may be made or
will be recognized unless the Note has been surrendered and accepted for registration of transfer or exchange in accordance with the provisions of this Section 2.4; provided however, that a transfer of an interest in a Note by a
Managing Agent to a SPRC, its related Program Support Provider(s) or related Alternate Transferee(s) or Committed Purchaser(s) as applicable in accordance with the Note Purchase Agreement shall not require registration of transfer. 
  
 Section 2.5. Mutilated, Destroyed, Lost or Stolen Notes. If (a) any
mutilated Note is surrendered to the Indenture Trustee, or the Indenture Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Note, and (b) in case of destruction, loss, or theft there is delivered to the Indenture
Trustee such security or indemnity as may be required by it to hold the Issuer, the Noteholders and the Indenture Trustee harmless, then, in the absence of notice to the Issuer, the Transfer Agent and Registrar or the Indenture Trustee that such
Note has been acquired by a protected purchaser (as defined in Section 8-303 of the UCC as in effect in the State of New York), the Issuer shall execute, and the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any
such mutilated, destroyed, lost or stolen Note, a replacement Note of like tenor (including the same date of issuance) and principal amount, bearing a number not contemporaneously outstanding; provided, however, that if any such
mutilated, destroyed, lost or stolen Note shall have become or within seven (7) days shall be due and payable, or shall have been selected or called for redemption, instead of issuing a replacement Note, the Issuer may pay such Note without
surrender thereof, except that any mutilated Note shall be surrendered. If, after the delivery of such replacement Note or payment of a destroyed, lost or stolen Note pursuant to the proviso to the preceding sentence, a protected purchaser (as
defined in Section 8-303 of the UCC as in effect in the State of New York) of the original Note in lieu of which such replacement Note was issued presents for payment such original Note, the Issuer and the Indenture Trustee shall be entitled to
recover such replacement Note (or such payment) from the Person to whom it was delivered or any Person taking such replacement Note from such Person to whom such replacement Note was delivered or any assignee of such Person, except a protected
purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Issuer or the Indenture Trustee in connection therewith. 
  

 7 

 Upon the issuance of any replacement Note under this Section 2.5, the Issuer may require the
payment by the Noteholder of such Note of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture Trustee or the
Transfer Agent and Registrar) connected therewith. 
  
 Every
replacement Note issued pursuant to this Section 2.5 in replacement of any mutilated, destroyed, lost or stolen Note shall constitute complete and indefeasible evidence of an obligation of the Issuer, as if originally issued, whether or not
the mutilated, destroyed, lost or stolen Note shall be found at any time, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Notes duly issued hereunder. 
  
 The provisions of this Section 2.5 are exclusive and shall preclude
(to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Notes. 
  
 Section 2.6. Persons Deemed Owners. Prior to due presentment for registration of transfer of any Note, the Issuer, the Sellers, the Servicer, the
Indenture Trustee and any agent of the Issuer, the Sellers or the Indenture Trustee shall treat the Person in whose name any Note is registered as the owner of such Note for the purpose of receiving distributions pursuant to the terms of this
Indenture and for all other purposes whatsoever, whether or not such Note is overdue, and neither the Issuer, the Sellers, the Indenture Trustee nor any agent of the Issuer, the Sellers, the Servicer or the Indenture Trustee shall be affected by any
notice to the contrary. The Issuer shall not be responsible for maintaining records of payments to the Persons to whom such payments are to be made hereunder. 
  

Section 2.7. Appointment of Paying Agent. The Issuer hereby appoints and will at all times maintain the Indenture Trustee as the paying agent
for the Notes. 
  
 Section 2.8. Access to List of
Noteholders’ Names and Addresses. 
  
 (a) The Issuer
will furnish or cause to be furnished to the Indenture Trustee or the Servicer, within five (5) Business Days after receipt by the Issuer of a written request therefor from the Indenture Trustee or the Servicer, respectively, a list of the names and
addresses of the Noteholders. Any Noteholder may apply in writing to the Indenture Trustee, and if such application states that the Noteholder desires to communicate with other Noteholders with respect to their rights under this Indenture or under
the Notes and is accompanied by a copy of the communication which such Noteholder proposes to transmit, then the Indenture Trustee, after having been adequately indemnified by such Noteholder for its costs and expenses, shall afford or shall cause
the Transfer Agent and Registrar to afford such Noteholder access during normal business hours to the most recent list of Noteholders held by the Indenture Trustee and shall give the Servicer notice that such request has been made, within five (5)
Business Days after the receipt of such application. Such list shall be as of a date no more than forty-five (45) days prior to the date of receipt of such Noteholder’s request. 
  
 (b) Every Noteholder, by receiving and holding a Note, agrees that none of the Issuer, the Indenture Trustee, the Transfer
Agent and Registrar and the Servicer and any of their 
  

 8 

 respective agents and employees shall be held accountable by reason of the disclosure of any such information as to the
names and addresses of the Noteholders hereunder, regardless of the sources from which such information was derived. 
  
 Section 2.9. Cancellation. All Notes surrendered for payment, registration of transfer, exchange or redemption shall, if surrendered to any Person
other than the Indenture Trustee, be delivered to the Indenture Trustee and shall be promptly canceled by it. The Issuer may at any time deliver to the Indenture Trustee for cancellation any Notes previously authenticated and delivered hereunder
which the Issuer may have acquired in any lawful manner whatsoever, and all Notes so delivered shall be promptly canceled by the Indenture Trustee. No Notes shall be authenticated in lieu of or in exchange for any Notes canceled as provided in this
Section 2.9, except as expressly permitted by this Indenture. All canceled Notes held by the Indenture Trustee shall be destroyed by the Indenture Trustee in accordance with its procedures and policies regarding destruction of cancelled
instruments unless the Issuer shall direct by a timely order that they be returned to it. The Indenture Trustee shall deliver to the Issuer a certificate of destruction as to each Note destroyed, identifying the Note destroyed and the registered
Noteholder or other party surrendering that Note to the Indenture Trustee and the circumstances under which such Note was surrendered and certifying whether any replacement Note has been issued to the Noteholder or its assignee, the aggregate amount
of any such replacement Note issued and that the Indenture Trustee has destroyed each Note surrendered to it in accordance with its standard procedures and policies regarding the destruction of cancelled instruments. 
  
 Section 2.10. Meetings of Noteholders. The Issuer or the Indenture
Trustee may at any time call a meeting of the Noteholders, to be held at such time and at such place as the Issuer and the Indenture Trustee, shall determine, for the purpose of approving a modification or amendment to, or obtaining a waiver of, any
covenant or condition set forth in this Indenture subject to Article X. 
  
 ARTICLE III 
  
 REPRESENTATIONS
AND COVENANTS OF ISSUER 
  
 Section 3.1. Payment of Principal
and Interest. 
  
 (a) On each Distribution Date, the
Indenture Trustee shall pursuant to Section 8.4(b) of this Indenture distribute to each Managing Agent of record on the related Record Date (other than as provided in Section 11.3) on behalf of the Noteholders in its Ownership Group
such Managing Agent’s pro rata share based on the respective Outstanding Principal Balance of such Note held by such Managing Agent as calculated by the Servicer and indicated in the Monthly Report, of the amounts held by the Indenture
Trustee that are allocated and available on such Distribution Date to pay accrued and unpaid interest on the Notes pursuant to this Indenture. 
  
 (b) On each Distribution Date, the Indenture Trustee shall pursuant to Section 8.4(b) of this Indenture distribute to each Managing Agent of record
on the related Record Date on behalf of the Noteholders in its Ownership Group such Noteholder’s pro rata share based on the respective Outstanding Principal Balance of such Note held by such Managing Agent as calculated by the Servicer
and indicated in the Monthly Report, of the amounts held by the 
  

 9 

 Indenture Trustee that are allocated and available on such Distribution Date to pay principal of the Notes pursuant to
this Indenture. Notwithstanding any other provision herein or in any Transaction Document, all principal of and accrued and unpaid interest on the Notes shall be due and payable on the Final Maturity Date. 
  
 (c) Except as provided in Section 11.3 with respect to a final
distribution of funds, distributions to Noteholders hereunder shall be made by (i) wire transfer to each Noteholder in accordance with the written instructions for such wire transfer provided by that Noteholder and (ii) without presentation or
surrender of any Note or the making of any notation thereon. 
  
 Section 3.2. Compliance with Law. The Issuer will comply in all material respects with all Requirements of Law applicable to it. 
  
 Section 3.3. Delivery of Collections. The Issuer agrees to deposit into the Operations Account within 2 Business Days of receipt any misdirected
Collections received by it. 
  
 Section 3.4. Inspection of
Books and Records. At any time, upon no less than ten (10) Business Days’ prior written notice (or, during and after the occurrence of a Default or Event of Default, upon reasonable prior written notice) to the Issuer, the Issuer shall
permit the Indenture Trustee and/or any Managing Agent, or any of their respective agents or representatives, during regular business hours (i) to visit the offices and properties of the Issuer for the purpose of examining the files, reports or
other physical records of the Collateral, and to discuss matters relating to the Collateral or the Issuer’s performance hereunder with any of the officers or employees of the Issuer having knowledge of such matters, and (ii) to examine and make
copies of all files, reports or other physical records with respect to the Collateral. Such audits shall be performed subject to the Issuer’s normal security and confidentiality provisions; provided, however, that the Indenture
Trustee or such Managing Agent, or any of their respective agents or representatives, shall not be prohibited from examining and making copies of any files, reports or other physical records generated with respect to the Collateral or from
disclosing the result of such audits to third parties to the extent such disclosure is (i) required in order to comply with any applicable law, order, regulation or ruling, or (ii) required in response to any summons or subpoena or in connection
with any litigation. Notwithstanding the foregoing, in no event shall the Indenture Trustee have the right to examine or copy any material, information or documents that the Servicer has identified in writing to the Indenture Trustee are
confidential, secret or classified documents of the NMCI Contract Obligor (which in any event shall not include the NMCI Contract itself). 
  
 Section 3.5. Maintenance of Office or Agency. The Issuer will maintain an office or agency within the State of New York where Notes may be
presented or surrendered for payment, where Notes may be surrendered for registration of transfer or exchange and where notices and demands to or upon the Issuer in respect of the Notes and this Indenture may be served. Notwithstanding the preceding
sentence, the Issuer hereby initially appoints the Indenture Trustee at its Corporate Trust Office to serve as its agent for the foregoing purposes. The Issuer will give prompt written notice to the Indenture Trustee and the Noteholders of the
location, and of any change in the location, of any such office or agency. If at any time the Issuer shall fail to maintain any such office or agency or shall fail to furnish the Indenture Trustee with the address thereof, such presentations,
surrenders, notices and demands may be made or served at the 
  

 10 

 Corporate Trust Office, and the Issuer hereby appoints the Indenture Trustee at its Corporate Trust Office as its agent
to receive all such presentations, surrenders, notices and demands. 
  
 Section 3.6. Domicile. The Issuer shall not change the jurisdiction in which it is organized without thirty (30) days’ prior written notice to the Indenture Trustee and each Managing Agent, and upon any such change will promptly
take all actions required (including, but not limited to, all filings and other acts necessary or advisable under the UCC of each relevant jurisdiction) in order to continue the first priority perfected interest of the Indenture Trustee in the
Collateral (other than the Subject Equipment to the extent the security interest therein is not required to be perfected). 
  
 Section 3.7. Money for Note Payments to Be Held in Trust. As specified in Section 8.4(a) and (b), all payments of amounts due and
payable with respect to the Notes which are to be made from amounts withdrawn from the Operations Account shall be made on behalf of the Issuer by the Indenture Trustee, and no amounts so withdrawn from the Operations Account shall be paid over to
or at the direction of the Issuer except as expressly provided in this Section 3.7. 
  
 Section 3.8. Existence. Subject to Section 3.6, the Issuer will keep in full effect its existence, rights and franchises as a statutory trust under the laws of the State of Delaware (unless it becomes,
or any successor Issuer hereunder is or becomes, organized under the laws of any other State or of the United States of America, in which case the Issuer will keep in full effect its existence, rights and franchises under the laws of such other
jurisdiction) and will obtain and preserve its qualification to do business in each jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability of this Indenture, the Notes, the Collateral and each
other related instrument or agreement. 
  
 Section 3.9.
Protection of Collateral. The Issuer will from time to time prepare, or cause to be prepared, execute and deliver all such supplements and amendments hereto and all such financing statements, continuation statements, instruments of further
assurance and other instruments, and will take such other action necessary or advisable to: 
  
 (a) Grant more effectively all or any portion of the Collateral as security for the Notes; 
  
 (b) maintain or preserve the lien (and the priority thereof) of this Indenture or to carry out more effectively the purposes hereof; provided,
however, that the foregoing requirement shall not apply to any items of Subject Equipment that are located outside of the United States of America to the extent that the laws of the jurisdiction or jurisdictions in which those items of
Subject Equipment are located impair the lien of the Indenture or the priority of the lien of the Indenture as to those items of Subject Equipment or to embarkable items of Subject Equipment; 
  
 (c) perfect, publish notice of, or protect the validity of any Grant made or
to be made under this Indenture (other than as to the Subject Equipment to the extent the security interest therein cannot be perfected by a filing in one of the United States or other than as to embarkable items of Subject Equipment); 

 
 (d) enforce any of the Collateral; or 
  

 11 

 (e) preserve and defend the Issuer’s title to the Collateral (it being understood that the Issuer
does not own title to the Subject Equipment, but only holds certain rights in the Subject Equipment) securing the Notes and the rights therein of the Indenture Trustee and the Noteholders secured thereby against the claims of all persons and
parties. 
  
 The Issuer hereby designates the Indenture Trustee
its agent and attorney-in-fact to execute any financing statement, continuation statement or other instrument required pursuant to this Section 3.9, but the Indenture Trustee shall not have any obligation to take any such action unless
instructed to do so by the Noteholders in accordance with the terms hereof. 
  
 The Issuer shall pay or cause to be paid any taxes levied on all or any part of the Collateral securing the Notes. 
  
 Section 3.10. Opinions as to Collateral. On the Funding Date and on each anniversary of the Funding Date, the Issuer shall furnish to the Indenture
Trustee an Opinion of Counsel satisfactory to a majority of the Managing Agents and their respective counsel either stating that, in the opinion of such counsel, such action has been taken to perfect the lien and security interest of this Indenture,
including with respect to the recording and filing of this Indenture, any indentures supplemental hereto, and any other requisite documents, and with respect to the execution and filing of any financing statements and continuation statements, as are
so necessary and reciting the details of such action, or stating that, in the opinion of such counsel, no such action is necessary to maintain the perfection of such lien and security interest provided; however, that such Opinion of Counsel shall
not be required to address the perfection of the lien and security interest of this Indenture as to any Subject Equipment which is not required to be perfected. 
  

Section 3.11. Performance of Obligations; Servicing of Receivables. 
  
 (a) The Issuer will not take any action and will use its best efforts as to any of its Affiliates and its commercially
reasonable efforts as to all other Persons not to permit any action to be taken by others that would release any Person from any of such Person’s material covenants or obligations under any instrument or agreement included in the Collateral or
that would result in the amendment, hypothecation, subordination, termination or discharge of, or impair the validity or effectiveness of, any such instrument or agreement, except as expressly provided in this Indenture, the Sale and Servicing
Agreement or such other instrument or agreement, it being agreed by the Indenture Trustee that the Issuer does not have the power to cause any action to be taken or not to be taken under the NMCI Contract other than to the extent set out in the Sale
and Servicing Agreement or as otherwise permitted by applicable law. 
  
 (b) The Issuer will punctually perform and observe all of its obligations and agreements contained in this Indenture, the other Transaction Documents and in the instruments and agreements relating to the Collateral, including but not
limited to filing or causing to be filed all UCC financing statements and continuation statements required to be filed by the terms of this Indenture and the Sale and Servicing Agreement in accordance with and within the time periods provided for
herein and therein. 
  

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 (c) If the Issuer shall have knowledge of the occurrence of a Termination Event or other Event of
Default, the Issuer shall request the Indenture Trustee to promptly notify each Managing Agent, and shall request the Indenture Trustee to specify in such notice the action, if any, being taken with respect to such event. If a Termination Event or
other Event of Default shall arise from the failure of a Seller or Servicer to perform any of its duties or obligations under the Sale and Servicing Agreement with respect to the Collateral, the Issuer shall take all reasonable steps available to it
to remedy such failure. 
  
 (d) On and after the receipt by the
Servicer of a notice pursuant to Section 4.5 of the Sale and Servicing Agreement, stating that the Servicer has failed in any material respect to perform its obligations under the Sale and Servicing Agreement, the Servicer shall continue to
perform all servicing functions under this Indenture at the direction of the Required Noteholders until a date mutually agreed upon by the Servicer and the Required Noteholders. 
  
 (e) Without derogating from the absolute nature of the assignment granted to the Indenture Trustee under this Indenture or
the rights of the Indenture Trustee hereunder, the Issuer agrees (i) that it will not, without the prior written consent of each Managing Agent, enter into or agree to any compromise, waiver or other agreement with the NMCI Contract Obligor, the
Sellers, the Servicer or any other Person relating to any Collateral, the NMCI Contract, (except to the extent otherwise provided in the Sale and Servicing Agreement) or the Transaction Documents (except to the extent otherwise provided in the
Transaction Documents), agree to any termination or revocation of the NMCI Contract or waive timely performance or observance by the Servicer or either of the Sellers of their obligations under the Sale and Servicing Agreement; (ii) that any
amendment to the NMCI Contract not previously consented to by each Managing Agent shall not materially adversely affect the Noteholders and (iii) that any such amendment to the Transaction Documents shall not (A) increase or reduce in any manner the
amount of, or accelerate or delay the timing of, distributions that are required to be made for the benefit of the Noteholders or (B) reduce the aforesaid number of Managing Agents that are required to consent to any such amendment, without the
consent of each Managing Agent. If any such amendment, modification, supplement or waiver shall be so consented to by the Indenture Trustee, the Administrative Agent and each Managing Agent, the Issuer agrees, promptly following a request by the
Indenture Trustee to do so, to execute and deliver, in its own name and at its own expense, such agreements, instruments, consents and other documents as the Indenture Trustee and Agent may deem necessary or appropriate in the circumstances.

  
 Section 3.12. Negative Covenants. So long as any Notes
are Outstanding, the Issuer will not: 
  
 (a) sell, transfer,
exchange, or otherwise dispose of any part of the Collateral unless directed to do so by the Indenture Trustee, except as expressly permitted by this Indenture, the Trust Agreement or the Sale and Servicing Agreement; 
  
 (b) claim any credit on, or make any deduction from, the principal and
interest payable in respect of the Notes or any amounts payable as part of the Liquidity Fee (other than amounts properly withheld from such payments under the Code or applicable state law) or assert any claim against any present or former
Noteholder by reason of the payment of any taxes levied or assessed upon any part of the Collateral; 
  

 13 

 (c) incur, assume, guarantee or otherwise become liable, directly or indirectly, for any indebtedness
other than indebtedness incurred under the Notes and this Indenture; 
  
 (d) (i) take any action or permit the Sellers, the Servicer or any Affiliate thereof to impair the validity or effectiveness of this Indenture, or hypothecate, subordinate, terminate or discharge the lien of this Indenture or permit any
Person to be released from any covenants or obligations with respect to the Notes under this Indenture except as may be expressly permitted hereby, (ii) permit any Lien, charge, excise, claim, or other encumbrance (other than the lien of this
Indenture) to be created on or extend to or otherwise arise upon or burden the Collateral or any part thereof or any interest therein or the proceeds thereof except for those Liens permitted under Section 2.6(i) of the Sale and Servicing
Agreement or (iii) permit the lien of this Indenture not to constitute a valid first priority security interest (other than with respect to a tax, mechanics, or similar Lien and those other Liens permitted under Section 2.6(i) of the Sale and
Servicing Agreement and non-consensual Liens on that part of Collateral in which the Indenture Trustee’s security interest is not required to be perfected) in the Collateral; or 
  
 (e) voluntarily dissolve or liquidate in whole or in part. 
  
 Section 3.13. Issuer May Consolidate, Etc., Only on Certain Terms. 
  
 (a) The Issuer shall not consolidate or merge with or into any other Person
without the prior written consent of the Indenture Trustee and each Managing Agent and provided that the Indenture Trustee and each Managing Agent shall have received a Tax Opinion with respect to such consolidation or merger; and any action that is
necessary to maintain the lien and security interest created by this Indenture shall have been taken. 
  
 (b) The Issuer shall not convey or transfer any of its properties or assets, including those included in the Collateral without the prior written consent
of the Indenture Trustee and each Managing Agent other than as expressly contemplated by the Transaction Documents and provided that the Indenture Trustee and each Managing Agent shall have received a Tax Opinion with respect to such transaction and
any action that is necessary to maintain the lien and security interest created by this Indenture as to the remaining Collateral shall have been taken. 
  
 Section 3.14. Successor Substituted. Upon any consolidation or merger, or any conveyance or transfer of the properties and assets of the Issuer
substantially as an entirety in accordance with Section 3.13, the surviving Person or the acquiring Person, as the case may be, shall succeed to, and be substituted for, and may exercise every right and power of, the Issuer under this
Indenture with the same effect as if such Person had been named as the Issuer herein. 
  
 In the event of any such conveyance or transfer, the Person named as the Issuer in the first paragraph of this Indenture or any successor which shall theretofore have become such in the manner prescribed in this
Section 3.14 shall be released from its obligations under this Indenture as the Issuer immediately upon the effectiveness of such conveyance or transfer, provided that the Issuer shall not be released from any obligations or liabilities to
the Indenture Trustee or the Noteholders arising prior to such effectiveness. 
  
 Section 3.15. No Other Business. The Issuer shall not engage in any business other than (i) purchasing, owning and managing the Trust Assets and the proceeds thereof in the manner 
  

 14 

 contemplated by this Indenture and the other Transaction Documents, (ii) issuing and making payments in respect of the
Notes (iii) entering into the Transaction Documents and performing its obligations thereunder, including granting security interests in and collaterally assigning the Collateral and (iv) all activities related thereto. 
  
 Section 3.16. Servicer’s Obligations. The Issuer shall use
reasonable efforts to cause the Servicer to comply with all of its obligations under the Transaction Documents and the NMCI Contract. 
  
 Section 3.17. Investments. Except as contemplated by this Indenture or the Sale and Servicing Agreement, the Issuer shall not own, purchase,
repurchase or acquire (or agree contingently to do so) any stock, obligations, assets or securities of, or any other interest in, or make any capital contribution to, any other Person. 
  
 Section 3.18. Capital Expenditures. The Issuer shall not make any expenditure (by long-term or operating lease or
otherwise) for capital assets (either realty or personalty) other than the Trust Assets. 
  
 Section 3.19. Restricted Payments. The Issuer shall not, directly or indirectly, (i) pay any dividend or make any distribution (by reduction of capital or otherwise), whether in cash, property, securities or a
combination thereof, to the Owner Trustee or any owner of a beneficial equity interest in the Issuer or otherwise with respect to any ownership or equity interest or security in or of the Issuer or to the Servicer, (ii) redeem, purchase, retire or
otherwise acquire for value any such ownership or equity interest or security or (iii) set aside or otherwise segregate any amounts for any such purpose; provided, however, that the Issuer may make, or cause to be made, (x)
distributions as contemplated by, and to the extent funds are available for such purpose under, the Transaction Documents including distributions on the Equity Certificate and (y) payments to the Indenture Trustee pursuant to Section 6.7. The
Issuer will not, directly or indirectly, make payments to or distributions from the Operations Account except in accordance with the Transaction Documents. 
  
 Section 3.20. Notice of Events of Default. The Issuer agrees to give a Trustee Officer of the Indenture Trustee and each Managing Agent prompt
written notice of each Event of Default hereunder and written notice of each Termination Event and each other default on the part of the Servicer or a Seller of its obligations under the Sale and Servicing Agreement, immediately after obtaining
knowledge thereof. 
  
 Section 3.21. Further Instruments and
Acts. Upon request of the Indenture Trustee, the Issuer will execute and deliver such further instruments and do such further acts as may be reasonably necessary or proper to carry out more effectively the purpose of this Indenture. 

 
 ARTICLE IV 
  
 CONFLICT WITH OTHER SECURITY AGREEMENT 
  
 To the extent that the interest of the Indenture Trustee in any of the Collateral is required or permitted by any
Governmental Authority including the Department of Navy to be filed or recorded in a security agreement (including the Contract Payments Assignment) other than this 
  

 15 

 Indenture, then in the case of any conflict between any provisions of such security agreement and this Indenture, this
Indenture shall govern as between the parties to this Indenture and to the Transaction Documents. 
  
 ARTICLE V 
  
 EVENTS OF DEFAULT 
  
 Section 5.1. Events of
Default. “Event of Default,” wherever used herein, means any one of the following events (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or
pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body): 
  
 (a) failure to pay the principal of any Note, if and to the extent not previously paid, when the same becomes due and payable; or 
  
 (b) failure to pay the accrued interest on any Note, if and to the extent not
previously paid, when the same becomes due and payable, which failure continues for a period of five (5) Business Days; or 
  
 (c) default in the payment of any other amount payable to any Noteholder or any Managing Agent by the Issuer pursuant to this Indenture, any Note or any
other Transaction Document when the same becomes due and payable, and such default shall continue for a period of 20 days after the earlier of (x) the date the Issuer receives notice of such failure from the Indenture Trustee or any Managing Agent
and (y) the date on which the Issuer becomes aware of such failure; or 
  
 (d) any representation or warranty made by the Issuer in any Transaction Document or any information shall prove to have been incorrect in any material respect when made or when delivered, which continues to be incorrect for a period of the
longer of (i) 20 days and (ii) until the next Determination Date after the earlier of (x) the date on which written notice of such failure, requiring the same to be remedied, shall have been given to the Issuer by the Indenture Trustee or any
Managing Agent and (y) the date on which the Issuer becomes aware of such failure; or 
  
 (e) failure on the part of the Issuer duly to observe or perform any other covenant or agreement set forth in any Transaction Document which failure continues unremedied for a period of the longer of (i) 20 days and
(ii) until the next Determination Date after the earlier of (x) the date on which written notice of such failure, requiring the same to be remedied, shall have been given to the Issuer by the Indenture Trustee or any Managing Agent and (y) the date
on which the Issuer becomes aware of such failure; or 
  
 (f) the
filing of a decree or order for relief by a court having jurisdiction in the premises in respect of the Issuer in an involuntary case under any applicable federal or state bankruptcy, insolvency or other similar law now or hereafter in effect, or
appointing a receiver, conservator, liquidator, assignee, custodian, trustee, sequestrator or similar official for the Issuer 
  

 16 

 or ordering the winding-up or liquidation of the Issuer’s affairs, and such decree or order shall remain unstayed
and in effect for a period of thirty (30) consecutive days; or 
  
 (g) the commencement by the Issuer of a voluntary case under any applicable federal or state bankruptcy, insolvency or other similar law now or hereafter in effect, or the consent by the Issuer to the entry of an order for relief in an
involuntary case under any such law, or the consent by the Issuer to the appointment of or the taking possession by a receiver, liquidator, assignee, custodian, trustee, sequestrator, conservator or similar official of the Issuer, or the making by
the Issuer of any general assignment for the benefit of creditors, or the failure by the Issuer generally to pay, or the admission in writing by the Issuer of its inability to pay, its debts as such debts become due, or the taking of action by the
Issuer in furtherance of any of the foregoing; or 
  
 (h) any
default, event of default, early amortization event or similar event occurs under or in respect of any Debt in excess of $1,000,000 of the Issuer; or 
  
 (i) the Indenture Trustee shall fail to have a valid and perfected first priority security interest in the Collateral (other than the Subject Equipment)
or a valid security interest in the Subject Equipment; or 
  
 (j)
any material adverse change in the operations of the Issuer or any other event which materially adversely affects the ability of the Issuer to perform its duties under the Transaction Documents shall have occurred, or, in the judgment of the
Indenture Trustee or a majority of the Managing Agents, will occur with the passage of time; or 
  
 (k) EDS ceases to own directly or indirectly 100% of the Equity Certificate and any other equity interests in the Issuer; or 
  
 (l) on any two consecutive Distribution Dates, after the application of the
funds available in the Operations Account in accordance with Article VIII, the Outstanding Amount plus all accrued and unpaid interest thereon plus any accrued and unpaid Liquidity Fee that is then due and payable exceeds the Borrowing Base;
or 
  
 (m) the ratings of any Hedge Counterparty are downgraded
below A2 by Moody’s or A by Standard & Poor’s or withdrawn and such Hedge Counterparty (i) is not replaced with a Hedge Counterparty which is rated at least A2 by Moody’s and A by Standard & Poor’s or (ii) has not cash
collateralized its obligations under the Hedge Agreement to the satisfaction of each Managing Agent, within 30 days of such downgrade or withdrawal; or 
  
 (n) on any Distribution Date, the aggregate notional amount for all Hedge Agreements for that Distribution Date shall fail to meet the Hedging
Requirements; or 
  
 (o) a Termination Event shall have occurred;
or 
  
 (p) a Change of Control shall occur, provided, however,
that such a Change of Control described in clause (i) of the definition thereof shall not constitute an Event of Default if immediately thereafter, the long-term indebtedness of EDS is rated at least BBB- or the equivalent thereof by Standard &
Poor’s, and Baa3 or the equivalent thereof by Moody’s, or if 
  

 17 

 such rating is not made, then the commercial paper of EDS is rated at least A-2 or the equivalent thereof by Standard
& Poor’s, or P-2 or the equivalent thereof by Moody’s; or 
  
 (q) EDS is not in compliance with the Financial Covenants; or 
  
 (r) the Level 2 Delinquency Ratio Test shall not be satisfied. 
  
 The Issuer shall deliver to a Trustee Officer of the Indenture Trustee and each Managing Agent, within two (2) days after the occurrence thereof, written notice in the form of an Officer’s Certificate of any event which with the giving
of notice and the lapse of time would become an Event of Default, its status and what action the Issuer is taking or proposes to take with respect thereto. 
  
 Section 5.2. Acceleration of Maturity; Rescission and Annulment. If an Event of Default described in paragraph (f) or (g) of
Section 5.1 should occur and be continuing, then the unpaid principal of the Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall automatically become due and payable. If any other Event of Default
should occur and be continuing, then and in every such case the Indenture Trustee or the Required Noteholders may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuer (and to a Trustee Officer of the
Indenture Trustee if declared by the Required Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and
payable. 
  
 At any time after such declaration of acceleration of
maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter provided in this Article V, all of the Managing Agents for the events set forth in Section
7.02(a)(1) of the Note Purchase Agreement and the Required Noteholders for all other Events of Default by written notice to the Issuer and a Trustee Officer of the Indenture Trustee, may rescind and annul such declaration and its consequences (but
without affecting any allocations made on or after that declaration of acceleration of maturity but prior to such rescission and annulment of such declaration under Article VIII). 
  
 No such rescission shall affect any subsequent default or impair any right consequent thereto. 
  
 Section 5.3. Collection of Indebtedness and Suits for Enforcement by
Indenture Trustee. 
  
 (a) The Issuer covenants that if (i)
default is made in the payment of any interest on any Note when the same becomes due and payable, and such default continues for a period of five (5) days following the date on which such interest became due and payable, or (ii) default is made in
the payment of principal of any Note, if and to the extent not previously paid, when the same becomes due and payable, the Issuer will, upon demand of the Indenture Trustee or the applicable Managing Agent, pay to the Indenture Trustee, for the
benefit of the Noteholders, the whole amount then due and payable on such Notes for principal and interest, with interest upon the overdue principal, and, to the extent payment at such rate of interest shall be legally enforceable, interest upon
overdue installments of interest, and in addition thereto will pay such 
  

 18 

 further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable
compensation, expenses, disbursements and advances of the Indenture Trustee, the applicable Managing Agent(s), and their respective agents and counsel. 
  
 (b) In case the Issuer shall fail forthwith to pay such amounts upon such demand, the Indenture Trustee, in its own name and as trustee of an express
trust, may institute a Proceeding for the collection of the sums so due and unpaid, and may prosecute such Proceeding to judgment or final decree, and may enforce the same against the Issuer or other obligor upon such Notes and collect in the manner
provided by law out of the Collateral, the moneys adjudged or decreed to be payable. 
  
 (c) If an Event of Default occurs and is continuing, the Indenture Trustee may, as more particularly provided in Section 5.4, in its discretion, but subject to Section 5.11 herein, proceed to protect and
enforce its rights and the rights of the Noteholders, by such appropriate Proceedings as the Indenture Trustee shall deem most effective to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in
this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy or legal or equitable right vested in the Indenture Trustee by this Indenture or by law. 
  
 (d) In case there shall be pending, relative to the Issuer or any other
obligor upon the Notes, or any Person having or claiming an ownership interest in the Collateral, Proceedings under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or other similar law now or
hereafter in effect, or in case a receiver, conservator, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator, custodian or other similar official shall have been appointed for or taken possession of the Issuer or its
property or such other obligor or Person, or in case of any other comparable judicial Proceedings relative to the Issuer or other obligor upon the Notes, or to the creditors or property of the Issuer or such other obligor, the Indenture Trustee,
irrespective of whether the principal of any Notes shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Indenture Trustee shall have made any demand pursuant to the provisions of this
Section 5.3, shall be entitled and empowered, by intervention in such Proceedings or otherwise: 
  
 (i) to file and prove a claim or claims for the whole amount of principal and interest owing and unpaid in respect of the Notes and to
file such other papers or documents as may be necessary or advisable in order to have the claims of the Indenture Trustee (including any claim for reasonable compensation to the Indenture Trustee and each predecessor Indenture Trustee, and their
respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Indenture Trustee and each predecessor Indenture Trustee, except as a result of negligence or willful misconduct)
and of the Noteholders allowed in such Proceedings; 
  
 (ii) unless prohibited by applicable law and regulations, to vote on behalf of the Noteholders in any election of a trustee, a standby trustee or Person performing similar functions in any such Proceedings; 
  

 19 

 (iii) to collect and receive any moneys or other property payable or deliverable on any
such claims and to distribute all amounts received with respect to the claims of the Noteholders and of the Indenture Trustee on their behalf; and 
  
 (iv) to file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of the
Indenture Trustee or the Noteholders allowed in any judicial Proceedings relative to the Issuer, its creditors and its property; 
  
 and any trustee, receiver, conservator, liquidator, custodian, assignee, sequestrator or other similar official in any such Proceeding is hereby authorized by each of
such Noteholders to make payments to the Indenture Trustee, and, in the event that the Indenture Trustee shall consent to the making of payments directly to such Noteholders, to pay to the Indenture Trustee such amounts as shall be sufficient to
cover reasonable compensation to the Indenture Trustee, each predecessor Indenture Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by the Indenture Trustee and each
predecessor Indenture Trustee except as a result of negligence, bad faith or willful misconduct. 
  
 (e) Nothing herein contained shall be deemed to authorize the Indenture Trustee to authorize or consent to or vote for or accept or adopt on behalf of any
Noteholder any plan of reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any Noteholder thereof or to authorize the Indenture Trustee to vote in respect of the claim of any Noteholder in any such proceeding
except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. 
  
 (f) All rights of action and of asserting claims under this Indenture, or under any of the Notes, may be enforced by the Indenture Trustee without the possession of any of the Notes or the production thereof in any
trial or other Proceedings relative thereto, and any such action or Proceedings instituted by the Indenture Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the
expenses, disbursements and compensation of the Indenture Trustee, each predecessor Indenture Trustee and their respective agents and attorneys, shall be for the benefit of the Noteholders as provided herein. 
  
 (g) In any Proceedings brought by the Indenture Trustee (and also any
Proceedings involving the interpretation of any provision of this Indenture to which the Indenture Trustee shall be a party), the Indenture Trustee shall be held to represent all the Noteholders, and it shall not be necessary to make any such
Noteholder a party to any such Proceedings. 
  
 Section 5.4.
Remedies; Priorities. 
  
 (a) If an Event of Default shall
have occurred and be continuing, and the Notes have been accelerated pursuant to Section 5.2, the Indenture Trustee may do one or more of the following (subject to Section 5.15): 
  
 (i) institute Proceedings in its own name and as trustee of
an express trust for the collection of all amounts then payable on the Notes or under this Indenture with 
  

 20 

 respect thereto, whether by declaration or otherwise, enforce any judgment obtained, and collect from the
Issuer and any other obligor upon such Notes moneys adjudged due; or 
  
 (ii) take any other appropriate action to protect and enforce the rights and remedies of the Indenture Trustee and the Noteholders; or 
  
 (iii) cause the Issuer to sell all or any portion of the Collateral (or interests therein) to the Sellers
pursuant to and to the extent provided in the repurchase provisions of Section 2.7 of the Sale and Servicing Agreement (which provisions relate to an obligation to repurchase Contract Payments if certain representations or warranties of the
Sellers are inaccurate in a material respect, if certain Liens encumber the Contract Payments or if the NMCI Contract is terminated for cause ) or otherwise, which sale shall be made in a manner which does not violate the Federal Assignment of
Claims Act, 31 U.S.C. §3727, and Assignment of Contracts Act, 41 U.S.C. §15), it being understood that any such sale must be made in a manner that takes into account and does not impair the right of the NMCI Contract Obligor to acquire the
Subject Equipment to which the lien of this Indenture attaches pursuant to Section 1.2.2 of the NMCI Contract or in any manner whatsoever impair, affect or limit the right of the NMCI Contract Obligor to use the Subject Equipment as contemplated by,
pursuant to and in accordance with the NMCI Contract; 
  
 provided, however, that the Indenture Trustee may not exercise the remedy described in subparagraph (iii) above unless (1) the Noteholders representing 100% of the principal balance of the Outstanding Notes consent in writing
thereto, or (2) the Indenture Trustee determines that any proceeds of such exercise distributable to the Noteholders will be sufficient to discharge in full all amounts then due and unpaid upon the Notes for principal and interest and is directed to
exercise this remedy by all Managing Agents. 
  
 The remedies
provided in this Section 5.4(a) are the exclusive remedies provided to the Noteholders with respect to the Collateral and each of the Noteholders (by their acceptance of their respective interests in the Notes) or the Indenture Trustee hereby
expressly waive any other remedy that might have been available under the applicable UCC. 
  
 (b) If the Indenture Trustee collects any money or property pursuant to this Article V following the acceleration of the Notes pursuant to Section 5.2 (so long as such a declaration shall not have been
rescinded or annulled), it shall pay out the money or property in the following order: 
  

			
	 FIRST:
	  	 to the Indenture Trustee for amounts due to it pursuant to Section 6.7; and

		
	 SECOND:
	  	unless otherwise specified in the related Indenture Supplement, to the Servicer for distribution in accordance with Article VIII with such amounts being deemed to be
Collections.

  
 (c) The Indenture
Trustee may, upon notification to the Issuer, fix a record date and payment date for any payment to Noteholders pursuant to this Section 5.4. At least fifteen (15) days before such record date, the Indenture Trustee shall mail or send by
facsimile, at the 
  

 21 

 expense of the Servicer, to each such Noteholder a notice that states the record date, the payment date and the amount to
be paid. 
  
 Section 5.5. RESERVED. 
  
 Section 5.6. Limitation on Suits. No Noteholder shall have any right
to institute any proceedings, judicial or otherwise, with respect to this Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless: 
  
 (a) the Required Noteholders have made a written request to the Indenture Trustee to institute such proceeding in its own
name as indenture trustee; 
  
 (b) the Required Noteholders have
previously given written notice to the Indenture Trustee of a continuing Event of Default; 
  
 (c) the Required Noteholders have offered to the Indenture Trustee indemnity satisfactory to it against the costs, expenses and liabilities to be incurred in compliance with such request; 
  
 (d) the Indenture Trustee for sixty (60) days after its receipt of such
request and offer of indemnity has failed to institute any such Proceeding; and 
  
 (e) no direction inconsistent with such written request has been given to the Indenture Trustee during such 60-day period by all of the Managing Agents, 
  
 it being understood and intended that no one or more Noteholders shall have any right in any manner whatever by virtue of, or by availing
of, any provision of this Indenture to affect, disturb or prejudice the rights of any other Noteholders or to obtain or to seek to obtain priority or preference over any other Noteholders or to enforce any right under this Indenture, except in the
manner herein provided. 
  
 The Noteholders and the Managing
Agents will only be entitled to institute or prosecute any action against the NMCI Contract Obligor in connection with any recovery with respect to the Contract Payments or any part thereof to the extent permitted by applicable law. 
  
 Section 5.7. Unconditional Rights of Noteholders to Receive Principal and
Interest. Notwithstanding any other provision in this Indenture, each Noteholder shall have the right which is absolute and unconditional to receive payment of the principal of and interest in respect of the Outstanding Note it owns as such
principal and interest becomes due and payable and to institute suit for the enforcement of any such payment, and such right shall not be impaired without the consent of such Noteholder. 
  
 Section 5.8. Restoration of Rights and Remedies. If the Indenture Trustee or any Noteholder has instituted any
Proceeding to enforce any right or remedy under this Indenture and such Proceeding has been discontinued or abandoned, or has been determined adversely to the Indenture Trustee or to such Noteholder, then and in every such case the Issuer, the
Indenture Trustee and the Noteholder shall, subject to any determination in such Proceeding, be restored severally and respectively to their former positions hereunder, and thereafter all rights and 
  

 22 

 remedies of the Indenture Trustee and the Noteholders shall continue as though no such Proceeding had been instituted.

  
 Section 5.9. Rights and Remedies Cumulative. No right,
remedy, power or privilege herein conferred upon or reserved to the Indenture Trustee or to the Noteholders is intended to be exclusive of any other right, remedy, power or privilege, and every right, remedy, power or privilege shall, to the extent
permitted by law, be cumulative and in addition to every other right, remedy, power or privilege given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or exercise of any right or remedy shall not preclude any
other further assertion or the exercise of any other appropriate right or remedy. 
  
 Section 5.10. Delay or Omission Not Waiver. No failure to exercise and no delay in exercising, on the part of the Indenture Trustee or of any Noteholder or other Person, any right or remedy occurring hereunder
upon any Event of Default shall impair any such right or remedy or constitute a waiver thereof of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article V or by law to the Indenture Trustee or to
the Noteholders may be exercised from time to time, and as often as may be deemed expedient, by the Indenture Trustee or by the Noteholders, as the case may be. 
  

Section 5.11. Right to Direct Indenture Trustee. The Required Noteholders shall have the right to direct in writing the time, method and place
of conducting any Proceeding for any remedy available to the Indenture Trustee or exercising any trust or power conferred on the Indenture Trustee; provided, however, that subject to Section 6.1, the Indenture Trustee shall have
the right to decline any such direction if the Indenture Trustee in good faith shall, by a Trustee Officer of the Indenture Trustee, determine that the Proceedings so directed would be illegal or involve the Indenture Trustee in personal liability.

  
 Section 5.12. Waiver of Past Defaults. Prior to the
declaration of the acceleration of the maturity of the Notes as provided in Section 5.2, the requisite parties determined in accordance with Section 7.02 of the Note Purchase Agreement may waive in writing any past default, with
written notice to the Indenture Trustee, with respect to such Notes and its consequences. 
  
 Upon any such written waiver, such default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this Indenture; but no such waiver shall extend to
any subsequent or other default or impair any right consequent thereon. 
  
 Section 5.13. Undertaking for Costs. All parties to this Indenture agree, and each Noteholder by its acceptance thereof shall be deemed to have agreed, that any court may in its discretion require, in any suit for the enforcement of
any right or remedy under this Indenture, or in any suit against the Indenture Trustee for any action taken, suffered or omitted by it as Indenture Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of such
suit, and that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees, against any party litigant (other than the Indenture Trustee) in such suit, having due regard to the merits and good faith of the
claims or defenses made by such party litigant; but the provisions of this Section 5.13 shall not apply to any suit instituted by the Indenture Trustee, to any suit instituted by the Required Noteholders (in compliance with Section

  

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 5.6), or to any suit instituted by any Noteholder for the enforcement of the payment of the principal or interest
in respect of any Note on or after the Distribution Date on which any of such amounts was due. 
  
 Section 5.14. Waiver of Stay or Extension Laws. The Issuer covenants (to the extent that it may lawfully do so) that it will not at any time insist upon, or plead, or in any manner whatsoever claim or take the
benefit or advantage of, any stay or extension law wherever enacted, now or at any time hereafter in force, which may adversely affect the covenants or the performance of this Indenture; and the Issuer (to the extent that it may lawfully do so)
hereby expressly waives all benefit or advantage of any such law, and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Indenture Trustee, but will suffer and permit the execution of every such power
as though no such law had been enacted. 
  
 Section 5.15. Sale
of Collateral. 
  
 (a) The method, manner, time, place and
terms of any sale of Collateral pursuant to Section 5.4(a)(iii) shall be commercially reasonable. The Indenture Trustee may from time to time postpone any sale by public announcement made at the time and place of such sale. The Indenture
Trustee hereby expressly waives its right to any amount fixed by law as compensation for any sale. 
  
 (b) The Indenture Trustee is hereby irrevocably appointed the agent and attorney-in-fact of the Issuer in connection with any sale of Collateral pursuant
to Section 5.4(a)(iii). No purchaser or transferee at any such sale shall be bound to ascertain the Indenture Trustee’s authority, inquire into the satisfaction of any conditions precedent or see to the application of any monies.

  
 (c) In its exercise of the foreclosure remedy pursuant to
Section 5.4(a)(iii), the Indenture Trustee shall solicit bids for the sale of Collateral. Each Seller or any of its Affiliates shall be entitled to participate in, and to receive from the Indenture Trustee a copy of each other bid submitted
in connection with, such bidding process; provided that (i) at least one Person other than a Seller and any of its Affiliates must submit a bona fide offer, and (ii) the Sellers and any of their Affiliates are prohibited from bidding an
amount which exceeds fair value for the transferred assets. The Indenture Trustee shall sell such Collateral (or interests therein) to the bidder with the highest cash purchase offer. The proceeds of any such sale shall be applied as specified in
Article VIII. 
  
 Section 5.16. Action on Notes. The
Indenture Trustee’s right to seek and recover judgment on the Notes or under this Indenture shall not be affected by the seeking or obtaining of or application for any other relief under or with respect to this Indenture. Neither the lien of
this Indenture nor any rights or remedies of the Indenture Trustee or the Noteholders shall be impaired by the recovery of any judgment by the Indenture Trustee against the Issuer or by the levy of any execution under such judgment upon any portion
of the Collateral. Any money or property collected by the Indenture Trustee shall be applied as specified in Article VIII. 
  

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 ARTICLE VI 
  
 THE INDENTURE TRUSTEE 
  
 Section 6.1. Duties of the Indenture Trustee. 
  
 (a) If an Event of Default has occurred and is continuing and a Trustee Officer shall have actual knowledge or written notice of such Event of Default,
the Indenture Trustee shall exercise the rights and powers vested in it by this Indenture and use the same degree of care and skill in their exercise as a prudent person would exercise or use under the circumstances in the conduct of such
person’s own affairs. 
  
 (b) Except during the continuance
of an Event of Default: 
  
 (i) the Indenture
Trustee undertakes to perform such duties and only such duties as are specifically set forth in this Indenture, and no implied covenants or obligations shall be read into this Indenture against the Indenture Trustee; and 
  
 (ii) in the absence of bad faith or negligence on its part,
the Indenture Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Indenture Trustee and conforming to the requirements of this
Indenture; provided, however, the Indenture Trustee, upon receipt of any resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Indenture Trustee which are specifically
required to be furnished pursuant to any provision of this Indenture, shall examine them to determine whether they substantially conform to the requirements of this Indenture, as to form. 
  
 (c) No provision of this Indenture shall be construed to relieve the
Indenture Trustee from liability for its own negligent action, its own negligent failure to act, or its own willful misconduct, except that: 
  
 (i) this Section 6.1(c) shall not be construed to limit the effect of Section 6.1(a); 
  
 (ii) the Indenture Trustee shall not be liable for any error
of judgment made in good faith by a Trustee Officer, unless it shall be proved that the Indenture Trustee was negligent in ascertaining the pertinent facts; and 
  
 (iii) the Indenture Trustee shall not be liable with respect to any action taken, suffered or omitted to be
taken by it in good faith in accordance with the Indenture and/or the direction of the Noteholders or for exercising any trust or power conferred upon the Indenture Trustee, under and in accordance with this Indenture. The Indenture Trustee shall
not be liable for any action taken, suffered or omitted to be taken by it in good faith in accordance with the direction of the Servicer, the Sellers, any Noteholder, Required Noteholders or the Issuer in compliance with the terms of this Indenture.

  

 25 

 (d) No provision of this Indenture shall require the Indenture Trustee to expend or risk its own funds or
otherwise incur any liability, financial or otherwise, in the performance of any of its duties hereunder or in the exercise of any of its rights or powers if it shall have reasonable grounds for believing that repayment of such funds or indemnity
satisfactory to it against such risk or liability is not reasonably assured to it. 
  
 (e) Every provision of this Indenture that in any way relates to the Indenture Trustee is subject to this Section 6.1. 
  
 (f) Except as expressly provided in this Indenture, the Indenture Trustee shall have no power to vary the Collateral, including by (i) accepting any
substitute payment obligation for Contract Payments initially transferred to the Issuer under the Sale and Servicing Agreement, (ii) adding any other investment, obligation or security to the Issuer or (iii) withdrawing from the Issuer any Contract
Payments (except as otherwise provided in the Sale and Servicing Agreement). 
  
 (g) The Indenture Trustee shall have no responsibility or liability for investment losses on Permitted Investments (other than Permitted Investments on which the institution acting as Indenture Trustee is an obligor).
The Indenture Trustee shall have no obligation to invest and reinvest any cash held in the absence of timely and specific written investment direction from the Issuer. In no event shall the Indenture Trustee be liable for the selection of
investments or for investment losses incurred thereon. The Indenture Trustee shall have no liability in respect of losses incurred as a result of the liquidation of any investment prior to its stated maturity or the failure of the Issuer to provide
timely written investment direction. 
  
 (h) The Indenture Trustee
shall notify each Managing Agent promptly of the occurrence of any Event of Default of which a Trustee Officer of the Indenture Trustee has actual knowledge of or has actual notice from the Servicer of potential Events of Default. 
  
 (i) For all purposes under this Indenture, the Indenture Trustee shall not be
deemed to have notice or knowledge of any Event of Default unless a Trustee Officer assigned to and working in the Corporate Trust Office of the Indenture Trustee has actual knowledge thereof or has received written notice thereof. For purposes of
determining the Indenture Trustee’s responsibility and liability hereunder, any reference to an Event of Default shall be construed to refer only to such event of which the Indenture Trustee is deemed to have notice as described in this
Section 6.1(i). 
  
 Section 6.2. Notice of Event of
Default. Upon the occurrence of any Event of Default of which a Trustee Officer has actual knowledge or has received written notice thereof, the Indenture Trustee shall transmit by mail to all Noteholders as their names and addresses appear on
the Note Register, notice of such Event of Default hereunder known to the Indenture Trustee within five (5) Business Days after it occurs or within two (2) Business Days after it receives such notice or obtains actual notice, if later. 

 
 Section 6.3. Rights of Indenture Trustee. Except as otherwise provided
in Section 6.1: 
  
 (a) the Indenture Trustee may
conclusively rely and shall fully be protected in acting or refraining from acting upon any resolution, certificate, statement, instrument, opinion, report, 
  

 26 

 notice, request, direction, consent, order, bond, note or other paper or document reasonably believed by it to be genuine
and to have been signed or presented by the proper party or parties; 
  
 (b) whenever in the administration of this Indenture, the Indenture Trustee shall deem it desirable that a matter be proved or established prior to taking, suffering or omitting any action hereunder, the Indenture Trustee (unless other
evidence be herein specifically prescribed) may, in the absence of bad faith on its part, conclusively rely upon an Officer’s Certificate of EDS or EIS. The Issuer shall provide a copy of such Officer’s Certificate to the Noteholders at or
prior to the time the Indenture Trustee receives such Officer’s Certificate; 
  
 (c) as a condition to the taking, suffering or omitting of any action by it hereunder, the Indenture Trustee may consult with counsel and the advice of such counsel or any Opinion of Counsel shall be full and complete
authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon; 
  
 (d) the Indenture Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture or to honor the request or
direction of any of the Noteholders pursuant to this Indenture, unless such Noteholders shall have offered to the Indenture Trustee security or indemnity satisfactory to it against the costs, expenses and liabilities which might be incurred by it in
compliance with such request or direction; 
  
 (e) the Indenture
Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, note or other paper or document, but the
Indenture Trustee at the written direction of one or more of the Noteholders and at the expense of the Noteholders, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Indenture
Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Issuer and the Servicer, personally or by agent or attorney; 
  
 (f) the Indenture Trustee may execute any of the trusts or powers hereunder
or perform any duties hereunder either directly or by or through agents, attorneys, custodians or nominees and the Indenture Trustee shall not be responsible for any (i) misconduct or negligence on the part of any agent, attorney, custodians or
nominees appointed with due care by it hereunder or (ii) the supervision of such agents, attorneys, custodians or nominees after such appointment with due care; 
  

(g) the Indenture Trustee shall not be liable for any actions taken, suffered or omitted by it in good faith and believed by it to be authorized or
within the discretion or rights conferred upon the Indenture Trustee by this Indenture; and 
  
 (h) the rights and protections afforded to the Indenture Trustee pursuant to this Article VI shall also be afforded to it in its capacity as paying agent and Transfer Agent and Registrar. 
  
 (i) The Indenture Trustee shall have the right to ask for and shall be
entitled to receive instruction from the Required Noteholders prior to taking or omitting to take any action pursuant to this Indenture and shall not be liable with respect to any action taken or omitted to be 
  

 27 

 taken by the Indenture Trustee in good faith in accordance with the instructions of the Required Noteholders rendered
pursuant to this Indenture, or with respect to any action omitted to be taken by the Indenture Trustee in good faith after requesting, but before receiving, such instruction. 
  
 (j) The Indenture Trustee is hereby authorized, in making or disposing of any investment permitted by this Indenture, to
deal with itself (in its individual capacity) or with any one or more of its affiliates, whether it or such affiliate is acting as an agent of the Indenture Trustee or for any third person or dealing as principal for its own account. 
  
 Section 6.4. Not Responsible for Recitals or Issuance of Notes. The
recitals contained herein and in the Notes, except the certificate of authentication of the Indenture Trustee, shall be taken as the statements of the Issuer, and the Indenture Trustee assumes no responsibility for their correctness. Neither the
Indenture Trustee nor any of its agents makes any representation as to the validity or sufficiency of this Indenture, the Notes, or any related document. The Indenture Trustee shall not be accountable for the use or application by the Issuer of the
proceeds from the Notes. 
  
 Section 6.5. Restrictions on
Holding Notes. The Indenture Trustee either in its individual capacity, or in a fiduciary capacity, may become the owner or pledgee of Notes and may otherwise deal with the Issuer with the same rights it would have if it were not Indenture
Trustee, paying agent, Transfer Agent and Registrar or such other agent. Any Transfer Agent and Registrar that is not also the Indenture Trustee or any other agent of the Issuer, in its individual or any other capacity, may become the owner or
pledgee of Notes and may otherwise deal with the Issuer with the same rights it would have if it were not Indenture Trustee, Transfer Agent and Registrar or such other agent. 
  
 Section 6.6. Money Held in Trust. Money held by the Indenture Trustee in trust hereunder need not be segregated from
other funds held by the Indenture Trustee in trust hereunder except to the extent required herein or required by law. The Indenture Trustee shall be under no liability for interest on any money received by it hereunder except as otherwise agreed
upon in writing by the Indenture Trustee and the Issuer. 
  
 Section 6.7. Compensation, Reimbursement and Indemnification. The Issuer shall pay to the Indenture Trustee from time to time reasonable compensation for all services rendered by the Indenture Trustee under this Agreement (which
compensation shall not be limited by any law on compensation of a trustee of an express trust). Except as expressly provided otherwise in this Indenture, the Issuer shall reimburse the Indenture Trustee for all reasonable out-of-pocket expenses
incurred or made by it in connection with the discharge of its obligations hereunder, including costs of collection, in addition to the compensation for its services. Such expenses shall include the reasonable compensation and expenses,
disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts. The Issuer, EDS and the Servicer, jointly and severally, shall indemnify the Indenture Trustee and its officers, directors, employees and agents
against any and all loss, liability, expense, damage or claim (including the fees of either in-house counsel or outside counsel) incurred by it in connection with the administration of this trust and the performance of its duties hereunder and under
any other Transaction Document, including any claim arising from any failure by Issuer or a Seller to pay when due any sales, excise, transfer or personal property taxes relating to the Collateral. The Indenture 
  

 28 

 Trustee shall notify the Issuer, EDS and the Servicer promptly of any claim for which it may seek indemnity. Failure by
the Indenture Trustee to so notify the Issuer, EDS and the Servicer shall not relieve the Issuer, EDS or the Servicer of its obligations hereunder unless such loss, liability or expense could have been avoided with such prompt notification and then
only to the extent of such loss, expense or liability which could have been so avoided. The Issuer, EDS and the Servicer, jointly and severally, shall defend any claim against the Indenture Trustee, the Indenture Trustee may have separate counsel
and, if it does, the Issuer, EDS and the Servicer, jointly and severally, shall pay the fees and expenses of such counsel. None of the Issuer, EDS nor the Servicer shall have any obligation to reimburse any expense or indemnify against any loss,
liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s own willful misconduct, bad faith or negligence. 
  
 The Issuer’s, EDS’ and the Servicer’s payment obligations to the Indenture Trustee pursuant to this Section 6.7 shall survive the
discharge of this Indenture or earlier resignation or removal of the Indenture Trustee. When the Indenture Trustee incurs expenses after the occurrence of an Event of Default specified in Section 5.1(f) or 5.1(g) with respect to the
Issuer, EDS or the Servicer in discharge of its duties hereunder, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar
law. 
  
 To secure the Issuer’s, EDS’ and the
Servicer’s payment obligations in this Section 6.7, the Indenture Trustee shall have a lien prior to the Notes on all money or property held or collected by the Indenture Trustee, in its capacity as Indenture Trustee, except money or
property held in trust to pay principal of, or interest on, the Notes. 
  
 Section 6.8. Replacement of Indenture Trustee. No resignation or removal of the Indenture Trustee and no appointment of a successor Indenture Trustee shall become effective until the acceptance of appointment by the successor
Indenture Trustee pursuant to this Section 6.8. The Indenture Trustee may resign at any time by giving thirty (30) days written notice to the Issuer and each Managing Agent. The Required Noteholders may remove the Indenture Trustee by so
notifying the Indenture Trustee in writing and may appoint a successor Indenture Trustee. 
  
 If the Indenture Trustee resigns or is removed or if a vacancy exists in the office of Indenture Trustee for any reason (the Indenture Trustee in such event being referred to herein as the retiring Indenture Trustee),
the Managing Agents shall promptly appoint a successor Indenture Trustee. If appointed prior to an Event of Default or Termination Event, the successor Indenture Trustee shall be subject to the reasonable approval of the Issuer. 
  
 A successor Indenture Trustee shall deliver a written acceptance of its
appointment to the retiring Indenture Trustee, the Servicer, each Managing Agent and to the Issuer. Thereupon the resignation or removal of the retiring Indenture Trustee shall become effective, and the successor Indenture Trustee shall have all the
rights, powers and duties of the Indenture Trustee under this Indenture. The successor Indenture Trustee shall mail a notice of its succession to each Managing Agent and the Issuer. The retiring Indenture Trustee shall promptly transfer all property
held by it as Indenture Trustee to the successor Indenture Trustee, subject to the payment of any and all amounts then due and owing to the Indenture Trustee pursuant to this Indenture. Any such transfer of any interest in the Contract Payments held
by the retiring 
  

 29 

 Indenture Trustee to the successor Indenture Trustee shall be made in a manner that complies with the requirements of,
and in a manner consistent with, the Federal Assignment of Claims Act, 31 U.S.C. §3727, and Assignment of Contracts Act, 41 U.S.C. §15. The retiring Indenture Trustee and the successor Indenture Trustee and the Servicer shall ensure that
such transfer of such interest in the Contract Payments can be made in compliance with such statutes and the regulations promulgated thereunder prior to effecting any transfer of any interest in the Contract Payments subject to the terms of such
statutes and the retiring Indenture Trustee and successor Indenture Trustee shall execute any document as reasonably requested by the Servicer to ensure such compliance. 
  
 If a successor Indenture Trustee does not take office within sixty (60) days after the retiring Indenture Trustee resigns or
is removed, the retiring Indenture Trustee, the Issuer or the Required Noteholders may petition any court of competent jurisdiction for the appointment of a successor Indenture Trustee. 
  
 Notwithstanding the replacement of the Indenture Trustee pursuant to this Section 6.8, the Issuer’s obligations
under Section 6.7 shall continue for the benefit of the retiring Indenture Trustee. 
  
 Section 6.9. Successor Indenture Trustee by Merger. If the Indenture Trustee consolidates with, merges or converts into, or transfers all or substantially all its corporate trust business or assets to, another
corporation or banking association, the resulting, surviving or transferee corporation without any further act shall be the successor Indenture Trustee; provided that such corporation or banking association shall be otherwise qualified and eligible
under Section 6.11. 
  
 In case at the time such successor
or successors by merger, conversion, consolidation or transfer to the Indenture Trustee shall succeed to the trusts created by this Indenture any of the Notes shall have been authenticated but not delivered, any such successor to the Indenture
Trustee may adopt the certificate of authentication of any predecessor Indenture Trustee and deliver such Notes so authenticated; and in case at that time any of the Notes shall not have been authenticated, any successor to the Indenture Trustee may
authenticate such Notes in the name of the successor to the Indenture Trustee; and in all such cases such certificates shall have the full force which it is anywhere in the Notes or in this Indenture provided that the certificate of the Indenture
Trustee shall have. 
  
 Section 6.10. Appointment of
Co-Indenture Trustee or Separate Indenture Trustee. 
  
 (a)
Notwithstanding any other provisions of this Indenture, at any time, for the purpose of meeting any legal requirement of any jurisdiction in which any part of the Collateral may at the time be located, the Indenture Trustee, with approval of the
Required Noteholders, shall have the power and may execute and deliver all instruments to appoint one or more Persons to act as a co-trustee or co-trustees, or separate trustee or separate trustees, of all or any part of the Collateral, and to vest
in such Person or Persons, in such capacity and for the benefit of the Noteholders, such title to the Collateral, or any part hereof, and, subject to the other provisions of this Section 6.10, such powers, duties, obligations, rights and
trusts as the Indenture Trustee, with the approval of the Required Noteholders, may consider necessary or desirable. No 
  

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 co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under
Section 6.11 and no notice to Noteholders of the appointment of any co-trustee or separate trustee shall be required under Section 6.8. Any such co-trustee or separate trustee appointed at a time when no Default or Event of Default
exists shall be subject to the reasonable approval of the Issuer. Such appointment will be made in a manner so that no violation of the Federal Assignment of Claims Act, 31 U.S.C. §3727, and Assignment of Contracts Act, 41 U.S.C. §15,
occurs as a result of such appointment. 
  
 (b) Every separate
trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions: 
  
 (i) all rights, powers, duties and obligations conferred or imposed upon the Indenture Trustee shall be conferred or imposed upon and
exercised or performed by the Indenture Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Indenture Trustee joining in such act),
except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Indenture Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and
obligations (including the holding of the Indenture Trustee’s interest in the Collateral or any portion thereof in any such jurisdiction) shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the
direction of the Indenture Trustee; 
  
 (ii) no
trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; 
  
 (iii) the Indenture Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee; and 
  
 (iv) the Indenture Trustee shall not be liable for any act
or failure to act on the part of any separate trustee or co-trustee. 
  
 (c) Any notice, request or other writing given to the Indenture Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any
separate trustee or co-trustee shall refer to this Indenture and the conditions of this Article VI. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in
its instrument of appointment, either jointly with the Indenture Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of,
affecting the liability of, or affording protection to, the Indenture Trustee. Every such instrument shall be filed with the Indenture Trustee. 
  
 (d) Any separate trustee or co-trustee may at any time constitute the Indenture Trustee, its agent or attorney-in-fact with full power and authority, to
the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all 
  

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 of its estates, properties, rights, remedies and trusts shall vest in and be exercised by the Indenture Trustee, to the
extent permitted by law, without the appointment of a new or successor trustee. 
  
 Section 6.11. Eligibility; Disqualification. The Indenture Trustee shall have a combined capital and surplus of at least $50,000,000 as set forth in its most recent published annual report of condition and
either its long-term unsecured debt shall be rated at least A3 by Moody’s and A- by Standard & Poor’s or its short-term debt shall be rated at least P-2 by Moody’s or A-2 by Standard & Poor’s. 
  
 Section 6.12. Representations and Covenants of the Indenture Trustee.
The Indenture Trustee represents, warrants and covenants that: 
  
 (i) the Indenture Trustee is a national banking association duly organized and validly existing under the laws of the United States; 
  
 (ii) the Indenture Trustee has full power and authority to deliver and perform this Indenture and has taken
all necessary action to authorize the execution, delivery and performance by it of this Indenture and other Transaction Documents to which it is a party; and 
  

(iii) each of this Indenture and the other Transaction Documents to which it is a party has been duly executed and delivered by the
Indenture Trustee and constitutes its legal, valid and binding obligation in accordance with its terms. 
  
 Section 6.13. Custody of the Collateral. The Indenture Trustee shall hold such of the Trust Estate as constitutes investment property pursuant to
the Securities Account Control Agreement. Except as permitted by this Section 6.13, the Indenture Trustee shall not hold any part of the Trust Estate through an agent or a nominee. 
  
 ARTICLE VII 
  
 NOTEHOLDERS’ LIST AND REPORTS BY 
 INDENTURE TRUSTEE AND ISSUER 
  
 Section 7.1. Issuer
to Furnish Indenture Trustee Names and Addresses of Noteholders. The Issuer will furnish or cause to be furnished to the Indenture Trustee (a) upon each transfer of a Note, a list, in such form as the Indenture Trustee may reasonably require, of
the names, addresses and taxpayer identification numbers of the Noteholders as they appear on the Note Register as of such Record Date, and (b) at such other times, as the Indenture Trustee may request in writing, within ten (10) days after receipt
by the Issuer of any such request, a list of similar form and content as of a date not more than ten (10) days prior to the time such list is furnished; provided, however, that for so long as the Indenture Trustee is the Transfer Agent
and Registrar, the Indenture Trustee shall furnish to the Issuer such list in the same manner prescribed in clause (b) above. The Indenture Trustee is responsible for obtaining from the Noteholders all IRS Forms (and similar forms under
applicable state, local, and foreign tax law) required under applicable U.S. federal, state, local or foreign tax law in order to establish exemptions from or reductions in withholding taxes and for providing such forms to the 
  

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 Indenture Trustee. The Indenture Trustee shall be responsible for (a) preparing, filing with the applicable taxing
authority, and (to the extent required under applicable tax law) furnishing Noteholders with copies of, all tax reports or statements with respect to interest or principal payments on, or redemptions of, notes which are required to be prepared,
filed, and furnished under applicable U.S. federal, state, local, or foreign tax law, and (b) withholding, and paying over to the applicable taxing authorities any tax withholdings that are required to be made under applicable U.S. federal, state,
local or foreign tax law. The Indenture Trustee shall also maintain all appropriate records documenting compliance with such requirements until such time as all applicable periods of limitation for assessing or collecting any taxes or penalties for
failure to comply fully with such requirements have expired, and shall make such records available, on written request, to the Issuer or its authorized representative within a reasonable period of time after receipt of such request. 
  
 If required by the withholding tax rules, as determined solely by the
applicable Managing Agent, such Managing Agent agrees to provide the Indenture Trustee with a certified tax identification number for each Noteholder pursuant to a signed Form W-9 (or Form W-8, in case of non-U.S. persons) delivered to the Indenture
Trustee prior to the date on which any income is earned on investments hereunder. The Managing Agents and Noteholders understand that, in the event such tax identification number is not certified to the Indenture Trustee, the Internal Revenue Code,
as amended from time to time, may require withholding of a portion of any interest or other income earned on investments hereunder. 
  
 Section 7.2. Preservation of Information; Communications to Noteholders. The Indenture Trustee shall preserve, in as current a form as is
reasonably practicable, the names and addresses of the Noteholders contained in the most recent list furnished to the Indenture Trustee as provided in Section 7.1 and the names, addresses and taxpayer identification numbers of the Noteholders
received by the Indenture Trustee in its capacity as Transfer Agent and Registrar. The Indenture Trustee may destroy any list furnished to it as provided in Section 7.1 upon receipt of a new list so furnished. 
  
 ARTICLE VIII 
  
 ALLOCATION AND APPLICATION OF COLLECTIONS 
  
 Section 8.1. Collection of Money. Except as otherwise expressly provided herein, the Indenture Trustee may demand
payment or delivery of, and shall receive and collect, directly and without intervention or assistance of any fiscal agent or other intermediary, all money and other property payable to or receivable by the Indenture Trustee pursuant to this
Indenture. The Indenture Trustee shall hold all such money and property received by it in trust for the Noteholders in the manner provided for, and pursuant to the terms of, this Indenture and shall apply all such money and property received by it
as provided in this Indenture. Except as otherwise expressly provided in this Indenture, if any party fails to make any payment or perform any obligation it is obligated to make or perform under the Sale and Servicing Agreement or any other
Transaction Document, the Indenture Trustee upon the written request of the Required Noteholders shall, subject to Sections 6.1(d) and 6.3(d), take such action as may be appropriate to enforce such payment or performance, including the
institution and prosecution of appropriate Proceedings to the extent permitted by applicable law. Any such action shall be without 
  

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 prejudice to any right to claim a Default or an Event of Default under this Indenture and to proceed thereafter as
provided in Article V. 
  
 Section 8.2. Rights of
Noteholders. The Collateral shall secure the rights of the Noteholders to receive the portion of Collections allocable to the Noteholders pursuant to this Indenture, funds and other property credited to the Operations Account (or any subaccount
thereof) allocable to the Noteholders pursuant to this Indenture. 
  
 Section 8.3. Establishment of the Operations Account. 
  
 (a) The Servicer, for the benefit of the Noteholders, shall establish and maintain with the Indenture Trustee or its nominee in the name of the Indenture Trustee, on behalf of the Issuer, a Qualified Account (including any subaccount
thereof) bearing a designation clearly indicating that the funds and other property credited thereto are held for the benefit of the Noteholders (the “Operations Account”). The Indenture Trustee shall possess all right, title and
interest in all monies, instruments, investment property, documents, certificates of deposit and other property credited from time to time to the Operations Account and in all proceeds, earnings, income, revenue, dividends and distributions thereof
for the benefit of the Noteholders. 
  
 (b) The Operations Account
shall be under the sole dominion and control of the Indenture Trustee for the benefit of the Noteholders. Except as expressly provided in this Indenture and the Sale and Servicing Agreement, as certified by the Servicer to the Indenture Trustee, as
applicable, the Servicer agrees that it shall have no right of setoff or banker’s lien against, and no right to otherwise deduct from, any funds held in the Operations Account for any amount owed to it by the Indenture Trustee, the Issuer, any
Noteholder or any Hedge Counterparty. If, at any time, the Operations Account ceases to be a Qualified Account and the same is actually known to a Trustee Officer of the Indenture Trustee, the Indenture Trustee (or the Servicer on its behalf) shall
within ten (10) Business Days (or such longer period as to which the Required Noteholders may consent) establish a new Operations Account meeting the conditions specified above, transfer any monies, documents, instruments, investment property,
certificates of deposit and other property to such new Operations Account and from the date such new Operations Account is established, it shall be the “Operations Account.” Pursuant to the authority granted to the Servicer in
Section 3.1 of the Sale and Servicing Agreement, as certified by the Servicer to the Indenture Trustee, as applicable, the Servicer shall have the power, revocable by the Indenture Trustee at the direction of the Required Noteholders, to make
withdrawals and payments from the Operations Account and to instruct the Indenture Trustee in writing to make withdrawals and payments from the Operations Account for the purposes of carrying out the Servicer’s or the Indenture Trustee’s
duties hereunder and under the Sale and Servicing Agreement, as applicable. The Servicer shall reduce deposits into the Operations Account payable by the Sellers on any date to the extent that Seller is entitled to receive funds from the Operations
Account on such date. 
  
 (c) Funds on deposit in the Operations
Account (other than investment earnings and amounts deposited pursuant to the Sale and Servicing Agreement or Section 11.2 of this Indenture) shall at the written direction of the Servicer be invested by the Indenture Trustee or its nominee
in Permitted Investments selected by the Servicer. All such Permitted Investments shall be held by the Indenture Trustee for the benefit of the Noteholders pursuant to Sections 6.13 and 
  

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 6.1(g). The Servicer shall direct that investments of funds representing Collections collected during any
Collection Period shall be invested in Permitted Investments that will mature so that such funds will be available no later than 1:00 p.m., New York City time on each monthly Distribution Date following such Collection Period in amounts sufficient
to the extent of such funds to make the required distributions on such Distribution Date. No such Permitted Investment shall be disposed of prior to its maturity; provided, however, that the Indenture Trustee may sell, liquidate or
dispose of any such Permitted Investment before its maturity, at the written direction of the Servicer, if the Servicer shall certify that such sale, liquidation or disposal would not result in a loss of all or part of the principal portion of such
Permitted Investment or if, prior to the maturity of such Permitted Investment, a default occurs in the payment of principal, interest or any other amount with respect to such Permitted Investment. Unless directed by the Servicer in writing, funds
deposited in the Operations Account on a Distribution Date are not required to be invested overnight. On each Distribution Date, all interest and other investment earnings (net of losses and investment expenses) on funds on deposit in the Operations
Account shall be treated as Collections with respect to the last day of the related Collection Period. The Indenture Trustee shall bear no responsibility or liability for any losses resulting from investment or reinvestment of any funds in
accordance with this Section 8.3 nor for the selection of Permitted Investments in accordance with the provisions of this Indenture. 
  
 Section 8.4. Collections, Allocations and Distributions. 
  

(a) Collections. The Servicer shall apply or shall instruct the Indenture Trustee in writing to apply all funds on deposit in the Operations
Account as described in this Article VIII. Prior to the Termination Date, during each Collection Period, the Servicer will be permitted to withdraw amounts in the Operations Account on any Business Day (a “Withdrawal Date”)
to the extent that, after giving effect to such withdrawals, the balance of funds on deposit in the Operations Account as determined and calculated by the Servicer, and certified to the Indenture Trustee by the Servicer, at least equals the
aggregate of: 
  
 (i) the sum to and including
such Withdrawal Date for each day since the prior Distribution Date or, in the case of the first Interest Period, the Funding Date, of the product of (A) the sum, of (1) the aggregate of Group Purchase Limits of all Ownership Groups and (2) without
duplication, the sum of the Outstanding Principal Balance of the Notes of all Terminating Ownership Groups immediately after the Prior Distribution Date, (B) the Liquidity Fee Rate and (C) a fraction, the numerator of which is 1 and the denominator
of which is 360; 
  
 (ii) the product of (A) the
sum of (1) the aggregate of Group Purchase Limits of all Ownership Groups and (2) without duplication, the sum of the Outstanding Principal Balance of the Notes of all Terminating Ownership Groups as of such Withdrawal Date, (B) the Liquidity Fee
Rate, (C) the number of days from but not including such Withdrawal Date to the last day of the current Interest Period, and (D) a fraction, the numerator of which is 1 and the denominator of which is 360; 
  
 (iii) for each of the Notes then Outstanding, the sum to and
including such Withdrawal Date for each day since the prior Distribution Date or, in the case of the first 
  

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 Interest Period for such Note, the Funding Date, of the product of (A) the Outstanding Amount on such
day, (B) the Note Interest Rate for the prior Interest Period for such Note or, in the case of the first Interest Period for such Note, the Note Interest Rate calculated as of the Funding Date and (C) a fraction, the numerator of which is 1 and the
denominator of which is 360 (or 365 or 366, as applicable, to the extent that the Note Interest Rate is calculated by reference to the Base Rate); 
  
 (iv) for each of the Notes then Outstanding, the sum of the product of (A) the Outstanding Amount as at such Withdrawal Date, (B) the Note
Interest Rate for the prior Interest Period for such Note, or, in the case of the first Interest Period for such Note, the Note Interest Rate calculated as of the Funding Date, (C) 1.2, (D) the number of days from but not including such Withdrawal
Date to the last day of the current Interest Period for such Note and (E) a fraction, the numerator of which is 1 and the denominator of which is 360 (or 365 or 366, as applicable, to the extent that the Note Interest Rate is calculated by reference
to the Base Rate); 
  
 (v) the amount of any
deposits made pursuant to Section 3.2(g) of the Sale and Servicing Agreement since the prior Distribution Date; and 
  
 (vi) the excess of the Outstanding Amount as at such Withdrawal Date over the Borrowing Base as of such Withdrawal Date; 
  
 (vii) an amount equal to the sum of the Termination Payout
Amounts for the Terminating Ownership Groups due and payable on the next Distribution Date; 
  
 (viii) an amount equal to one-twelfth of the annual fee payable to the Indenture Trustee; and 
  
 (ix) an amount equal to one-twelfth of an amount equal to an
annual fee payable to the Administrative Agent based on the Maximum Amount in effect on the date of determination. 
  
 provided that, the Servicer will not be permitted to withdraw amounts in the Operations Account on any Withdrawal Date if: 
  
 (x) as of the most recent Distribution Date, the sum of the
Outstanding Amount plus all accrued and unpaid interest thereon plus the accrued and unpaid Liquidity Fee exceeds the Borrowing Base; or 
  
 (y) any Managing Agent has provided a written notice to the Indenture Trustee and the Servicer objecting to such withdrawal. 

 
 The Servicer shall instruct the NMCI Contract Obligor to deposit all
payments with respect to the NMCI Contract to the Operations Account, and to indicate to the Indenture Trustee the source of such deposits. The Servicer shall promptly (and in any event within two (2) Business Days of receipt) deposit any
Collections which it receives into the Operations Account. If on any Distribution Date there are insufficient funds in the Operations Account to pay the amounts set out in paragraphs 8.4(b)(i) to (x) as a result of the Servicer
withdrawing an amount 
  

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 pursuant to Section 8.4(a) in excess of the amount it was permitted to withdraw, the Servicer shall deposit to the
Operations Account an amount equal to such excess. 
  
 (b)
Allocations and Distributions. On each Determination Date, the Servicer, pursuant to the Monthly Report delivered to the Indenture Trustee, shall instruct in writing the Indenture Trustee to withdraw and transfer, and on the succeeding
Distribution Date the Indenture Trustee acting in accordance with such written instructions shall withdraw and transfer, the amounts required to be withdrawn from the Operations Account pursuant to this Section 8.4(b) in order to make the
following payments or allocations from the Operations Account for the related Distribution Date (in each case, such payment or transfer to be made only to the extent funds remain available therefor in the Operations Account after all prior payments
and transfers for such Distribution Date have been made), in the following order of priority, all (including the required amounts) as stated in the Monthly Report: 
  
 (i) pay, pro rata, to the Indenture Trustee any accrued and unpaid fees payable to the Indenture Trustee
pursuant to this Indenture and to the Owner Trustee, any accrued and unpaid fees payable to the Owner Trustee pursuant to the Trust Agreement; 
  
 (ii) if the Administrator is a party other than EDS or one of its Affiliates, pay to the Administrator, any accrued and unpaid fees
payable to the Administrator pursuant to the Administration Agreement; 
  
 (iii) pay to each Managing Agent, on behalf of its Ownership Group, an amount equal to the Monthly Interest for the Interest Period ending on the day prior to such Distribution Date together with any amounts of
Monthly Interest accrued in respect of prior Interest Periods for which no allocation was previously made and Additional Interest on such amounts; 
  
 (iv) pay to the Administrative Agent, the Administrative Agent Fee and then pay to each Managing Agent, on behalf of its Ownership Group
and in accordance with the Note Purchase Agreement, the accrued and unpaid Liquidity Fee (as defined in the Note Purchase Agreement) then due and payable to each such Managing Agent together with any such fees that accrued in respect of prior
Interest Periods for which no allocation was previously made; 
  
 (v) if prior to the Termination Date and so long as no Rapid Amortization Event then exists as certified to the Indenture Trustee by the Servicer in the Monthly Report or by a Managing Agent, pay to each Managing
Agent whose Ownership Group is a Terminating Ownership Group on behalf of such Terminating Ownership Group and in accordance with Section 2.09 of the Note Purchase Agreement, the Termination Pay-Out Amount for such Terminating Ownership
Group; 
  
 (vi) if prior to the Termination Date
and so long as no Rapid Amortization Event then exists as certified to the Indenture Trustee by the Servicer in the Monthly Report or by a Managing Agent, pay to each Managing Agent, on behalf of its Ownership Group (excluding any Managing Agents
whose related Ownership Group is a Terminating Ownership Group), pro rata in accordance with the Outstanding Amount of 
  

 37 

 the Notes, related to the Ownership Groups of those Managing Agents, as a principal payment an amount
equal to the excess of the Outstanding Amount of all those Notes (excluding any Notes related to Terminating Ownership Groups) over an amount equal to (A) the Borrowing Base as of the Determination Date minus (B) the aggregate Outstanding Principal
Amount of all Notes related to Terminating Ownership Groups (after giving effect to all the payments made pursuant to the immediately preceding clause (v) of this Section 8.4(b)), which amount shall be the amount necessary to reduce the Outstanding
Amount of the Notes (excluding any Notes related to Terminating Ownership Groups) to an amount equal to (A) the Borrowing Base as of the Determination Date minus (B) the aggregate Outstanding Principal Amount of all Notes related to Terminating
Ownership Groups (after giving effect to all the payments made pursuant to the immediately preceding clause (v) of this Section 8.4(b) and this clause (vi)); 
  

(vii) on or after the Termination Date or at any time when a Rapid Amortization Event exists, as certified to the Indenture Trustee, by
the Servicer in the Monthly Report or by a Managing Agent, pay to each Managing Agent, on behalf of its Ownership Group, pro rata in accordance with the Outstanding Amount of the Notes, the remaining Outstanding Amount of the Notes; 
  
 (viii) pay to each Managing Agent, on behalf of its
Ownership Group, any Additional Amounts to the extent not otherwise paid by the Servicer or the Issuer pursuant to the Note Purchase Agreement; 
  
 (ix) pay, pro rata, to the Administrator (if the Administrator is EDS or one of its Affiliates) any accrued and unpaid fees payable to the
Administrator pursuant to the Administration Agreement and to the Servicer, any accrued and unpaid servicing fees payable to the Servicer pursuant to the Sale and Servicing Agreement; and 
  
 (x) pay the remainder of funds in the Operations Account to
the holder of the Equity Certificate. 
  
 In addition, any amounts
received as proceeds of a Clean-up Call pursuant to Sections 11.2(a) and (b) of this Indenture and any amounts payable by the Sellers or the Servicer pursuant to Sections 2.7, 3.2(g) and 3.2(h) of the Sale and
Servicing Agreement each as certified to the Indenture Trustee by the Servicer shall be applied as Collections pursuant to this Section 8.4 in the manner in which Collections would be applied on or after the Termination Date. 
  
 Section 8.5. Release of Collateral; Eligible Loan Documents.

  
 (a) Subject to Section 8.6, upon the written direction
of the Issuer, the Indenture Trustee and the Servicer shall execute instruments to release property from the lien of this Indenture, or convey the Indenture Trustee’s interest in the same, in a manner and under circumstances which are not
inconsistent with the provisions of this Indenture, as certified to the Indenture Trustee in an officer’s certificate. No party relying upon an instrument executed by the Indenture Trustee as provided in this Article VIII shall be bound
to ascertain the Indenture 
  

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 Trustee’s authority, inquire into the satisfaction of any conditions precedent or see to the application of any
monies. 
  
 (b) In order to facilitate the servicing of the
Collateral by the Servicer, the Indenture Trustee upon receipt of an Issuer Order shall authorize the Servicer to execute in the name and on behalf of the Indenture Trustee instruments of satisfaction or cancellation, or of partial or full release
or discharge, and other comparable instruments with respect to the Collateral (and the Indenture Trustee shall execute any such documents on written request of the Servicer), subject to the obligations of the Servicer under the Sale and Servicing
Agreement. 
  
 (c) The Indenture Trustee shall, subject to the
last sentence in this Section 8.5(c) and Section 8.6, at such time as there are no Notes outstanding, release and transfer, without recourse, to the Issuer or its designated transferee all of the Collateral that then secured the Notes.
From time to time during the period in which Notes are outstanding, subject to the last sentence in this Section 8.5(c) and Section 8.6, the Indenture Trustee shall release and transfer, without recourse, to the Issuer or its
designated transferee (i) any item of Subject Equipment as to which a substitute item of Subject Equipment has been provided by either Seller to the NMCI Obligor in connection with any refreshment of technology pursuant to the terms of the NMCI
Contract, which substitute item of Subject Equipment has a fair market value equal to or greater than the item of Subject Equipment to be released and as to which substitute item of Subject Equipment no related Advance is made pursuant to the
Transaction Documents and (ii) any item of Subject Equipment if the Unamortized Equipment Receivable Balance associated with that item of Subject Equipment is zero. The Indenture Trustee shall release property from the lien of this Indenture
pursuant to this Section 8.5(c) only upon receipt of an Issuer Order which states, among other things, that (x) all conditions precedent to such release stated in this Section 8.5(c) have been complied with and satisfied and (y) with
respect to release of Collateral pursuant to clause (i) of the immediately preceding sentence, the fair market value of the released item of Subject Equipment (within 90 days of such release). 
  
 (d) Notwithstanding anything to the contrary in this Indenture, the Sale and
Servicing Agreement and the Trust Agreement, immediately prior to the release of any portion of the Collateral pursuant to this Indenture, the Indenture Trustee shall, at the written request of the Issuer and the Servicer, remit to the holder of the
Equity Certificate any funds that, upon such release, would otherwise be remitted to the Issuer pursuant to Section 8.4 of this Indenture. 
  
 Section 8.6. Opinion of Counsel. The Indenture Trustee shall receive at least seven (7) days notice when requested by the Issuer to take any action
pursuant to Section 8.5(a) (other than as to release of Collateral of the types referred to in the second sentence of Section 8.5(c)), accompanied by copies of any instruments involved, and the Indenture Trustee shall also require, as
conditions to such action, an Opinion of Counsel, in form and substance reasonably satisfactory to the Indenture Trustee and the Servicer, opining as to the legal effect of any such action and that such action will not alter the rights of the
Noteholders under this Indenture except as to the released Collateral, and an Officer’s Certificate outlining the steps required to complete the same, and concluding that all conditions precedent to the taking of such action have been complied
with and such action will not materially and adversely impair the security for the Notes or the rights of the Noteholders in contravention of the provisions of this Indenture; provided, however, that such Opinion of Counsel shall not
be required to express an opinion as to the fair 
  

 39 

 value of the Collateral. The Indenture Trustee and counsel rendering any such opinion may conclusively rely, without
independent investigation, on the accuracy and validity of any certificate or other instrument delivered to the Indenture Trustee in connection with any such action. 
  
 ARTICLE IX 
  
 REPORTS TO NOTEHOLDERS 
  
 The identity of the Noteholders with respect to distributions and reports shall be determined according to the immediately preceding Record Date.

  
 (a) On each Distribution Date, the Indenture Trustee shall
forward to each Noteholder the Monthly Report prepared by the Servicer. 
  
 (b) A copy of each statement or certificate provided pursuant to paragraph (a) may be obtained by any Noteholder by a request in writing to the Servicer. 
  
 (c) On or before January 31 of each calendar year, beginning with January 31, 2002, the Indenture Trustee, shall furnish or
cause to be furnished to each Person who at any time during the preceding calendar year was a Noteholder, a statement prepared by the Servicer containing the information which is required to be contained in the statement to Noteholders, as set forth
in paragraph (a) above, aggregated for such calendar year or the applicable portion thereof during which such Person was a Noteholder, together with other information as is required to be provided by an issuer of indebtedness under the Code. Such
obligation of the Indenture Trustee and Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer pursuant to any requirements of the Code as from time to time in
effect. 
  
 ARTICLE X 
  
 SUPPLEMENTAL INDENTURES 
  
 Section 10.1. Supplemental Indentures. The Issuer and the Indenture
Trustee, when authorized by an Issuer Order, may, with the consent of the Required Noteholders, enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to, changing in any manner or eliminating any of the
provisions of this Indenture or of modifying in any manner the rights of such Noteholders under this Indenture; provided, however that no such supplemental indenture shall, without the consent of the Noteholder of each outstanding
Note: 
  
 (a) change the due date of any installment of principal
of or interest on any Note, or reduce the principal amount thereof, the interest rate specified thereon or the redemption price with respect thereto or change any place of payment where, or the coin or currency in which, any Note or any interest
thereon is payable; 
  
 (b) impair the right to institute suit for
the enforcement of the provisions of this Indenture requiring the application of funds available therefor, as provided in Article V, to the payment of any such amount due on the Notes on or after the respective due dates thereof; 

 

 40 

 (c) modify Section 8.4 or any of the defined terms related thereto; 
  
 (d) reduce the percentage of the Outstanding Amount the consent of the
Noteholders of which is required for any such supplemental indenture, or the consent of the Noteholders of which is required for any waiver of compliance with certain provisions of this Indenture or certain defaults hereunder and their consequences
as provided for in this Indenture; 
  
 (e) reduce the percentage
of the Outstanding Amount, the consent of the Noteholders of which is required to direct the Indenture Trustee to sell or liquidate the Collateral if the proceeds of such sale would be insufficient to pay the principal amount and accrued but unpaid
interest on the outstanding Notes; 
  
 (f) decrease the percentage
of the Outstanding Amount required to amend the sections of this Indenture which specify the applicable percentage of the Outstanding Amount of the Notes necessary to amend the Indenture or any Transaction Documents which require such consent;

  
 (g) modify or alter the provisions of this Indenture
prohibiting the voting of Notes held by the Issuer, any other obligor on the Notes, a Seller or any Affiliate thereof; 
  
 (h) impair or adversely affect the Collateral except as otherwise permitted in this Indenture; or 
  
 (i) permit the creation of any Lien ranking prior to or on a parity with the
lien of this Indenture with respect to any part of the Collateral for any Notes or, except as otherwise permitted or contemplated herein, terminate the Lien of this Indenture on any such Collateral at any time subject hereto or deprive the
Noteholder of any Note of the security provided by the Lien of this Indenture. 
  
 It shall not be necessary for any Act of Noteholders under this Section 10.1 to approve the particular form of any proposed supplemental indenture, but it shall be sufficient if such Act shall approve the
substance thereof. 
  
 Promptly after the execution by the Issuer
and the Indenture Trustee of any supplemental indenture pursuant to this Section 10.1, the Indenture Trustee shall mail to the Noteholders to which such amendment or supplemental indenture relates written notice setting forth in general terms
the substance of such supplemental indenture. Any failure of the Indenture Trustee to mail such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such supplemental indenture. 
  
 Section 10.2. Execution of Supplemental Indentures. In executing, or
permitting the additional trusts created by, any supplemental indenture permitted by this Article X or the modification thereby of the trusts created by this Indenture, the Indenture Trustee shall be entitled to receive, and shall be fully
protected in relying upon, an Opinion of Counsel stating that the execution of such supplemental indenture is authorized or permitted by this Indenture and stating that all requisite consents have been obtained or that no consents are required and
stating that such supplemental indenture or modification constitutes the legal, valid and binding obligation of the Issuer in accordance with its terms. The Indenture Trustee may, but shall not be 
  

 41 

 obligated to, enter into any such supplemental indenture that affects the Indenture Trustee’s own rights, duties,
liabilities or immunities under this Indenture or otherwise. 
  
 Section 10.3. Effect of Supplemental Indenture. Upon the execution of any supplemental indenture under this Article X, this Indenture shall be modified in accordance therewith, and such supplemental indenture shall form a part
of this Indenture for all purposes, and every Noteholder theretofore or thereafter authenticated and delivered hereunder shall be bound thereby. This Section 10.3 does not apply to Indenture Supplements. 
  
 Section 10.4. Reference in Notes to Supplemental Indentures. Notes
authenticated and delivered after the execution of any supplemental indenture pursuant to this Article X may, and if required by the Indenture Trustee shall, bear a notation in form approved by the Indenture Trustee as to any matter provided
for in such supplemental indenture. If the Issuer shall so determine, new Notes so modified as to conform, in the opinion of the Indenture Trustee and the Issuer, to any such supplemental indenture may be prepared and executed by the Issuer and
authenticated and delivered by the Indenture Trustee in exchange for the Outstanding Notes. 
  
 ARTICLE XI 
  
 TERMINATION

  
 Section 11.1. Termination of the Issuer. The Issuer and
the respective obligations and responsibilities of the Issuer created hereby shall terminate, except with respect to the duties described in Section 11.3(b), as provided in the Trust Agreement. 
  
 Section 11.2. Optional Redemption. 
  
 (a) On any day occurring on or after the date after the Termination Date as
certified to the Indenture Trustee by the Servicer or Administrative Agent on which the Outstanding Amount of the Notes is reduced to 10% or less of the Outstanding Amount of Notes as of the Termination Date, the Servicer shall have the option to
redeem the Notes, (the “Clean-up Call”) at a purchase price equal to (i) if such day is a Distribution Date, the Note Repurchase Price for such Distribution Date or (ii) if such day is not a Distribution Date, the Note Repurchase Price for
the Distribution Date next following such day. 
  
 (b) The
Servicer shall give each Managing Agent and the Indenture Trustee at least thirty (30) days prior written notice of the date on which the Servicer intends to exercise the Clean-up Call. Not later than 12:00 noon, New York City time, on such day the
Servicer shall deposit into the Operations Account in immediately available funds the Note Repurchase Price. Such redemption option is subject to payment in full of the Note Repurchase Price. Following such deposit into the Operations Account in
accordance with the foregoing, the Noteholders shall have no further security interest in the Collateral. 
  
 Section 11.3. Final Distribution. 
  
 (a) The Servicer shall give the Indenture Trustee at least thirty (30) days prior written notice of the Distribution Date on which the Noteholders may
surrender their Notes for payment of the final distribution on and cancellation of such Notes (or, in the event of a final distribution 
  

 42 

 resulting from the application of Section 2.9 of the Sale and Servicing Agreement, notice of such Distribution
Date promptly after the Servicer has determined that a final distribution will occur, if such determination is made less than thirty (30) days prior to such Distribution Date). Such notice shall be accompanied by an Officer’s Certificate
setting forth the information specified in Section 3.5 of the Sale and Servicing Agreement covering the period during the then-current calendar year through the date of such notice. Not later than the fifth day of the month in which the final
distribution is payable to Noteholders, the Indenture Trustee shall provide notice to Noteholders specifying (i) the date upon which final payment will be made upon presentation and surrender of Notes at the office or offices therein designated,
(ii) the amount of any such final payment and (iii) that the Record Date otherwise applicable to such payment date is not applicable, payments being made only upon presentation and surrender of such Notes at the office or offices therein specified.

  
 (b) Notwithstanding a final distribution to the Noteholders
(or the termination of the Issuer), except as otherwise provided in this paragraph, all funds then on deposit in the Operations Account after such final distribution shall continue to be held in trust for the benefit of such Noteholders and the
Indenture Trustee shall pay such funds to such Noteholders upon surrender of their Notes, if certificated (and any excess shall be paid to the holder of the Equity Certificate). In the event that all such Noteholders shall not surrender their Notes
for cancellation within six (6) months after the date specified in the notice from the Indenture Trustee described in paragraph (a), the Indenture Trustee shall give a second notice to the remaining such Noteholders to surrender their Notes
for cancellation and receive the final distribution with respect thereto. If within one year after the second notice all such Notes shall not have been surrendered for cancellation, the Indenture Trustee may take appropriate steps, or may appoint an
agent to take appropriate steps, to contact the remaining such Noteholders concerning surrender of their Notes, and the cost thereof shall be paid out of the funds in the Operations Account held for the benefit of such Noteholders. Upon the written
request of the Servicer, the Indenture Trustee shall pay to the Issuer any monies held by it for the payment of principal or interest that remains unclaimed for two (2) years. After payment to the Issuer, Noteholders entitled to the money must look
to the Issuer for payment as general creditors unless an applicable abandoned property law designates another Person. 
  
 Section 11.4. Issuer’s Termination Rights. Upon the termination of the Issuer pursuant to the terms of the Trust Agreement (as certified to
the Indenture Trustee by the Issuer) and upon the written direction of the Issuer, the Indenture Trustee shall assign and convey to the holder of the Equity Certificate or any of its designees, (as certified to the Indenture Trustee by the Issuer)
without recourse, representation or warranty, all right, title and interest of the Issuer in the Collateral, whether then existing or thereafter created (including all moneys then held in the Operations Account) and all proceeds thereof, except for
amounts held by the Indenture Trustee pursuant to Section 11.3(b). The Indenture Trustee shall execute and deliver such instruments of transfer and assignment, in each case without recourse, as shall be reasonably requested in writing by the
holder of the Equity Certificate to vest in the holder of the Equity Certificate or any of its designees all right, title and interest which the Indenture Trustee had in the Collateral and such other property. 
  

 43 

 ARTICLE XII 
  
 MISCELLANEOUS 
  
 Section 12.1. Compliance Certificates and Opinions etc. 
  

(a) Upon any application or request by the Issuer to the Indenture Trustee to take any action under any provision of this Indenture, other than with
respect to actions specifically contemplated by this Indenture that do not require such action, the Issuer shall furnish to the Indenture Trustee an Officer’s Certificate and an opinion of counsel stating that all conditions precedent, if any,
provided for in this Indenture relating to the proposed action have been complied with, except that, in the case of any such application or request as to which the furnishing of such documents is specifically required by any provision of this
Indenture, no additional certificate or opinion need be furnished. 
  
 Every certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture shall include: 
  
 (i) a statement that each signatory of such certificate or opinion has read or has caused to be read such covenant or condition and the
definitions herein relating thereto; 
  
 (ii) a
brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are based; 
  
 (iii) a statement that, in the opinion of each such signatory, such signatory has made such examination or
investigation as is necessary to enable such signatory to express an informed opinion as to whether or not such covenant or condition has been complied with; and 
  
 (iv) a statement as to whether, in the opinion of each such signatory, such condition or covenant has been
complied with. 
  
 (b) Notwithstanding any other provision of this
Section 12.1, the Issuer may, upon certification to the Indenture Trustee that such action is permitted by the Transaction Documents, (A) collect, liquidate, sell or otherwise dispose of Collateral as and to the extent permitted or required
by the Transaction Documents and (B) make cash payments out of the Operations Account as and to the extent permitted or required by the Transaction Documents. 
  

Section 12.2. Form of Documents Delivered to Indenture Trustee. In any case where several matters are required to be certified by, or covered by
an opinion of, any specified Person, it is not necessary that all such matters be certified by, or covered by the opinion of, only one such Person, or that they be so certified or covered by only one document, but one such Person may certify or give
an opinion with respect to some matters and one or more other such Persons as to other matters, and any such Person may certify or give an opinion as to such matters in one or several documents. 
  

 44 

 Any certificate or opinion of a Responsible Officer of the Issuer may be based, insofar as it relates to
legal matters, upon a certificate or opinion of, or representations by, counsel, unless such officer knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to the matters upon which
such officer’s certificate or opinion is based are erroneous. Any such certificate of a Responsible Officer or Opinion of Counsel may be based, insofar as it relates to factual matters, upon a certificate or opinion of, or representations by,
an officer or officers of the Servicer, a Seller or the Issuer, stating that the information with respect to such factual matters is in the possession of the Servicer, a Seller or the Issuer, unless such Responsible Officer or Counsel has actual
knowledge that the certificate or opinion or representations with respect to such matters are erroneous. 
  
 Where any Person is required to make, give or execute two (2) or more applications, requests, consents, certificates, statements, opinions or other
instruments under this Indenture, they may, but need not, be consolidated and form one instrument. 
  
 Whenever in this Indenture, in connection with any application or certificate or report to the Indenture Trustee, it is provided that the Issuer shall
deliver any document as a condition of the granting of such application, or as evidence of the Issuer’s compliance with any term hereof, it is intended that the truth and accuracy, at the time of the granting of such application or at the
effective date of such certificate or report (as the case may be), of the facts and opinions stated in such document shall in such case be conditions precedent to the right of the Issuer to have such application granted or to the sufficiency of such
certificate or report. The foregoing shall not, however, be construed to affect the Indenture Trustee’s right to conclusively rely upon the truth and accuracy of any statement or opinion contained in any such document as provided in Article
VI. 
  
 Section 12.3. Acts of Noteholders. 

 
 (a) Any request, demand, authorization, direction, notice, consent,
waiver or other action provided by this Indenture to be given or taken by Noteholders or Required Noteholders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Noteholders or Required
Noteholders in person or by their agents duly appointed in writing as certified to the Indenture Trustee by such Managing Agent, and satisfying any requisite percentages as to minimum number or dollar value of outstanding principal amount
represented by such Noteholders; and, except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments are delivered to the Indenture Trustee, and, where it is hereby expressly required, to the
Issuer. Such instrument or instruments (and the action embodied therein and evidenced thereby) are herein sometimes referred to as the “Act” of the Noteholders signing such instrument or instruments. Proof of execution of any such
instrument or of a writing appointing any such agent shall be sufficient for any purpose of this Indenture and conclusive in favor of the Indenture Trustee and the Issuer, if made in the manner provided in this Section 12.3. 
  
 (b) The fact and date of the execution by any Person of any such instrument
or writing may be proved in any manner which the Indenture Trustee deems sufficient. 
  
 (c) The ownership of Notes shall be proved by the Note Register. 
  

 45 

 (d) Any request, demand, authorization, direction, notice, consent, waiver or other action by any
Noteholder shall bind the Noteholder (and any transferee thereof) of every Note issued upon the registration thereof in exchange therefor or in lieu thereof, in respect of anything done, omitted or suffered to be done by the Indenture Trustee or the
Issuer in reliance thereon, whether or not notation of such action is made upon such Note. 
  
 Section 12.4. Notices. All notices, demands, certificates, requests and communications hereunder (“notices”) shall be in writing and shall be effective (a) upon receipt when sent through the U.S.
mails, registered or certified mail, return receipt requested, postage prepaid, with such receipt to be effective the date of delivery indicated on the return receipt, or (b) one (1) Business Day after delivery to an overnight courier, or (c) on the
date personally delivered to an authorized officer of the party to which sent, or (d) on the date transmitted by legible telefax transmission with a confirmation of receipt, in all cases addressed to the recipient as follows: 
  

	 	(i)	If to the Servicer or EDS: 

  
 EDS NMCI CFO Business Management 
 13600 EDS
Drive, A5N-B48 
 Herndon, VA 20171 
 Attention: Mathew B. Feck 
                  Manager, NMCI Equipment Finance 
 Phone: 703-742-2551 
 Fax: 703-742-1460 
  
 with a copy to: 
  
 Electronic Data Systems Corporation 
 5400
Legacy Drive 
 Mail Stop H1-3A-34 
 Plano, TX 75024-3105 
 Attention: Frank Castora 
                  Director, Corporate Finance—Americas 
 Phone: 972-605-8759 
 Fax: 972-605-8640

  
 And, in the case of any notice of termination, default or
claim for indemnity, with a copy to: 
  
 Electronic Data Systems
Corporation 
 5400 Legacy Drive, Mail Stop H3-3A-05 
 Plano, TX 75024-3105 
 Attention: General Counsel 
 Phone: 972-605-5584 
 Fax: 972-605-5610

  

 46 

	 	(ii)	If to the Issuer: 

  
 The Bank of New York (Delaware), 
 as Owner
Trustee 
 502 White Clay Center, Route 273 
 Newark, DE 19711 
 Attention: 
 Fax No.: 
 Telephone No.: 
  
 Notices to the Issuer should be copied to EIS, as servicer. 
  

	 	(iii)	If to the Indenture Trustee: 

  
 U.S. Bank National Association, 
 as
successor in interest to 
 State Street Bank and Trust Company 
 225 Asylum Street, 23rd Floor 
 Hartford, CT 06103 
 Attention: Corporate Trust Services 
 Fax No.: 860-241-6897 
 Telephone No.: 860-241-6815 
  

	 	(iv)	If to the Noteholders: 

  
 To the address of each Noteholder 
 as it
appears on the Note Register 
 with a copy to the applicable Managing Agent 
  

	 	(v)	If to a Managing Agent: 

  
 To the notice address and information therefor specified in the Note 
 Purchase Agreement. 
  
 Section
12.5. Alternate Payment and Notice Provisions. Notwithstanding any provision of this Indenture or any of the Notes to the contrary, the Issuer, with the prior written consent of the Indenture Trustee, may enter into any agreement with any
Noteholder or the applicable Managing Agent on behalf of such Noteholder providing for a method of payment, or notice by the Indenture Trustee to such Noteholder, that is different from the methods provided for in this Indenture for such payments or
notices. The Issuer will furnish to the Indenture Trustee a copy of each such agreement and the Indenture Trustee will cause payments to be made and notices to be given in accordance with such agreements. 
  
 Section 12.6. Effect of Headings and Table of Contents. The Article
and Section headings herein and the Table of Contents are for convenience only and shall not affect the construction hereof. 
  

 47 

 Section 12.7. Successors and Assigns. All covenants and agreements in this Indenture by the
Issuer, EDS and the Servicer shall bind its successors and assigns, whether so expressed or not. 
  
 Section 12.8. Separability. In case any provision in this Indenture or in the Notes shall be invalid, illegal or unenforceable, the validity,
legality, and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
  
 Section 12.9. Benefits of Indenture. Nothing in this Indenture or in the Notes, express or implied, shall give to any Person, other than the
parties hereto and their successors hereunder, and each Managing Agent, Noteholders, the Servicer and the Sellers, any benefit or any legal or equitable right, remedy or claim under this Indenture. 
  
 Section 12.10. Legal Holidays. In any case where the date on which any
payment is due shall not be a Business Day, then (notwithstanding any other provision of the Notes or this Indenture) payment need not be made on such date, but may be made on the next succeeding Business Day with the same force and effect as if
made on the date on which nominally due, and no interest shall accrue for the period from and after any such nominal date. 
  
 Section 12.11. GOVERNING LAW. THIS INDENTURE AND EACH NOTE SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK
APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED THEREIN (WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS). 
  
 Section 12.12. Counterparts. This Indenture may be executed in any number of counterparts, each of which so executed shall be deemed to be an
original, but all such counterparts shall together constitute but one and the same instrument. 
  
 Section 12.13. Issuer Obligation. No recourse may be taken, directly or indirectly, with respect to the obligations of the Issuer or the Indenture Trustee on the Notes or under this Indenture or any certificate
or other writing delivered in connection herewith or therewith, against (i) the Indenture Trustee or the Owner Trustee in its individual capacity, (ii) any owner of a beneficial interest in the Issuer or (iii) any partner, owner, beneficiary,
shareholder, agent, officer, director, employee or agent of the Indenture Trustee or the Owner Trustee in its individual capacity, any holder of a beneficial interest in the Issuer, the Owner Trustee or the Indenture Trustee or of any successor or
assign of the Indenture Trustee or the Owner Trustee in its individual capacity, except as any such Person may have expressly agreed (it being understood that the Indenture Trustee and the Owner Trustee have no such obligations in their individual
capacity) and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any installment or call owing to
such entity. For all purposes of this Indenture, in the performance of any duties or obligations of the Issuer hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Articles V,
VI and VII of the Trust Agreement. 
  

 48 

 Section 12.14. No Petition. The Indenture Trustee, by entering into this Indenture, and each
Noteholder, by accepting a Note, hereby covenant and agree that they will not at any time institute against the Issuer, or join in instituting against the Issuer any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings, or
other proceedings under any United States federal or state bankruptcy or similar law. 
  

 49 

 IN WITNESS WHEREOF, the Issuer and the Indenture Trustee have caused this Indenture to be duly executed
by their respective officers thereunto duly authorized and attested, all as of the day and year first above written. 
  

			
	 GOVERNMENT CONTRACT RECEIVABLES NOTE TRUST,
 as Issuer

	
	 By: THE BANK OF NEW YORK (Delaware)
 not in
its individual capacity,
 but solely as Owner Trustee

		
	 By:
	 	 /S/ ART PAVONI

	 Name:
	 	 Art Pavoni

	 Title:
	 	 Senior Vice President

  

 S-1 

			
	 EDS INFORMATION SERVICES L.L.C.,
 as Servicer

		
	 By:
	 	 /S/ SCOTT J. KRENZ

	 Name:
	 	 Scott J. Krenz

	 Title:
	 	 Treasurer

  

 S-2 

			
	 U.S. BANK NATIONAL ASSOCIATION,
 as successor in interest to State Street Bank and
 Trust Company, as Indenture Trustee

		
	 By:
	 	 /S/ SUSAN C. MERKER

	 Name:
	 	 Susan C. Merker

	 Title:
	 	 Vice President

  

 S-3 

			
	 ELECTRONIC DATA SYSTEMS
 CORPORATION,
 as a Seller and as Guarantor

		
	 By:
	 	 /S/ SCOTT J. KRENZ

	 Name:
	 	 Scott J. Krenz

	 Title:
	 	 Treasurer

  

 S-4 

			
	 Acknowledged and Accepted:

	
	 CREDIT SUISSE FIRST BOSTON,
 NEW YORK BRANCH, as a Managing Agent
 for the
CSFB Ownership Group

		
	 By:
	 	 /S/ BRUCE T. MILLER

	 Name:
	 	 Bruce T. Miller

	 Title:
	 	 Director

		
	 By:
	 	 /S/ JOSH BORG

	 Name:
	 	 Josh Borg

	 Title:
	 	 Vice President

  

 S-5 

			
	 HSBC SECURITIES (USA) INC.,
 as Managing Agent for the HSBC Ownership
 Group

		
	 By:
	 	 /S/ CHRISTINE DALTON

	 Name:
	 	 Christine Dalton

	 Title:
	 	 Vice President

  

 S-6 

			
	 ABN AMRO BANK N.V., as Managing Agent
 for the ABN Ownership Group

		
	 By:
	 	 /S/ KEVIN G. PILZ

	 Name:
	 	 Kevin G. Pilz

	 Title:
	 	 Vice President

		
	 By:
	 	 /S/ S. SEAN CHEN

	 Name:
	 	 S. Sean Chen

	 Title:
	 	 Senior Vice President

  

 S-7 

			
	 DEUTSCHE BANK, AG, NEW YORK
 BRANCH, as Managing Agent for the DB
 Ownership
Group

		
	 By:
	 	 /S/ WILLIAM W. MCGINTY

	 Name:
	 	 William W. McGinty

	 Title:
	 	 Director

		
	 By:
	 	 /S/ PETER ESCHMANN

	 Name:
	 	 Peter Eschmann

	 Title:
	 	 Vice President

  

 S-8 

			
	 GENERAL ELECTRIC CAPITAL
 CORPORATION, as Managing Agent for the
 GE Ownership
Group

		
	 By:
	 	 /S/ JAY A. PAGE

	 Name:
	 	 Jay A. Page

	 Title:
	 	 Chief Risk Officer

  

 S-9 

  
 ANNEX A TO INDENTURE 
  
 DEFINITIONS 
  
 “Act” is
defined in Section 12.3(a) of the Indenture. 
  
 “Additional Amounts” has the meaning given in the Note Purchase Agreement. 
  
 “Additional Interest” has the meaning given in the Note Purchase Agreement. 
  
 “Administration Agreement” means the Administration Agreement, dated as of September 19, 2001, between the
Issuer and the Servicer. 
  
 “Administrative
Agent” means Credit Suisse First Boston, New York Branch. 
  
 “Advance” has the meaning given in the Note Purchase Agreement. 
  
 “Advance Date” has the meaning given in the Note Purchase Agreement. 
  
 “Advance Paydown Period” means, as to any portion of an Advance made or requested with respect to an Equipment Receivable, (i) if prior
to the Commitment Termination Date as to all Ownership Groups, the Amortization Period as to that Equipment Receivable or (ii) if after or on the Commitment Termination Date as to all Ownership Groups, the lesser of (a) 36 months, (b) the
Amortization Period as to that Equipment Receivable and (c) the number of months remaining in the Base Term. 
  
 “Advance Rate” means 30%. 
  
 “Adverse Effect” means, with respect to any action, that such action will (a) result in the occurrence of an Event of Default or (b)
materially and adversely affect the amount or timing of distributions to be made to the Noteholders pursuant to the Transaction Documents. 
  
 “Affiliate” means, with respect to any specified Person, any other Person controlling or controlled by or under common control with such
specified Person. For the purposes of this definition, “control” means the power to direct the management and policies of a Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and
the terms “controlling” and “controlled” have meanings correlative to the foregoing. 
  
 “Amortization Period” means the number of months specified by the Servicer with respect to each Equipment Receivable, as specified in the
Notice of Advance (as defined in the Note Purchase Agreement) requesting the Advance made with respect to that Equipment Receivable, which number of months shall be reasonably equivalent to the useful life of the Subject Equipment designated as
being related to such Equipment Receivable. 
  

 A-1 

 “Authorized Officer” means: 
  
 (a) with respect to the Issuer, any officer of the Owner Trustee who is
authorized to act for the Owner Trustee in matters relating to the Issuer and who is identified on the list of Authorized Officers, containing the specimen signature of each such Person, delivered by the Owner Trustee to the Indenture Trustee on the
Funding Date (as such list may be modified or supplemented from time to time thereafter); 
  
 (b) with respect to either Seller, any officer or designated representative of that Seller who is authorized to act for that Seller in matters relating to that Seller and who is identified on the list of Authorized
Officers, containing the specimen signature of each such Person, delivered by that Seller to the Indenture Trustee on the Funding Date (as such list may be modified or supplemented from time to time thereafter); and 
  
 (c) with respect to the Servicer, any officer or designated representative of
the Servicer who is authorized to act for the Servicer in matters relating to the Servicer and who is identified on the list of Authorized Officers, containing the specimen signature of each such Person, delivered by the Servicer to the Indenture
Trustee on the Funding Date (as such list may be modified or supplemented from time to time thereafter). 
  
 “Base Term” means, as of any date of determination, the number of months remaining until the Final Maturity Date. 
  
 “Base Rate” has the meaning given in the Note Purchase
Agreement. 
  
 “Borrowing Base” means, as of any
date of determination, the least of: 
  
 (a) the Unamortized
Equipment Receivables Balance on such date; 
  
 (b) the Gross
Asset Balance; 
  
 (c) (i) the cancellation charge ceiling
applicable at the time the date of determination occurs as set out in Schedule I to this Annex A plus 
  
 (ii) the amount of the Contract Payments (other than one-time or special-incentive Contract Payments) the Servicer expects to receive from
the NMCI Contract Obligor in respect of the NMCI Contract for the month in which the date of determination occurs multiplied by 6, as certified by the Servicer in good faith to the Indenture Trustee and each Managing Agent less 
  
 (iii) the sum, for each of the Notes then outstanding, of
the sum, for each day to and including such date of determination for each day since the date interest accrued on the Note was last paid, of the product of (A) the Outstanding Principal Balance of that Note on such day, (B) the Note Interest Rate
for the prior Interest Period for that Note and (C) a fraction, the numerator of which is 1 and the denominator of which is 360 
  

 A-2 

 (or 365 or 366, as applicable, to the extent the Note Interest Rate for that Note is calculated by
reference to the Base Rate) less 
  
 (x) the sum,
for each of the Notes then outstanding, of the sum, for each day to and including such date of determination for each day since the date the Liquidity Fee was last paid to the Managing Agent in whose name that Note is registered, of the product of
(A) (1) if that Managing Agent is related to an Ownership Group that is not a Terminating Ownership Group, the Group Purchase Limit for that Managing Agent’s related Ownership Group on that day or (2) if that Managing Agent is related to
a Terminating Ownership Group, the Outstanding Principal Balance of that Note on that day, (B) the Liquidity Fee Rate and (C) a fraction, the numerator of which is 1 and the denominator of which is 360; plus 
  
 (y) the product of (A) the sum of (1) the aggregate of the
Group Purchase Limits of all Ownership Groups that are not Terminating Ownership Groups on that day and (2) the aggregate of the Outstanding Principal Balance of the Notes relating to all Terminating Ownership Groups on that day, (B) the Liquidity
Fee Rate, (C) 1.2, (D) the number of days from but not including such date of determination to the next Distribution Date that falls at least six months after the date of determination and (E) a fraction, the numerator of which is 1 and the
denominator of which is 360; plus 
  
 (z) the
sum, for each of the Notes then outstanding, of the product of (A) the Outstanding Principal Balance of that Note at such date of determination, (B) the Note Interest Rate for that Note for the prior Interest Period, (C) 1.2 and (D) the number of
days from but not including such date of determination to the next Distribution Date which falls at least six months after the date of determination and (E) a fraction, the numerator of which is 1 and the denominator of which is 360 (or 365 or 366,
as applicable, to the extent the Note Interest Rate is calculated by reference to the Base Rate); and 
  
 (d) the applicable minimum contract value of the NMCI Contract as set out in the “Summary of Minimum Contract Value” in “Part One -
Continuation of SF 1449” of the NMCI Contract for the program year (as such term is used in the NMCI Contract) in which the date of determination occurs and the Phase (as such term is used in the NMCI Contract) that is in effect at the time of
determination and each remaining year of the NMCI Contract (including, to the extent the NMCI Contract Obligor’s option to extend the term of the NMCI Contract is exercised, any option years); 
  
 provided, however, that, for purposes of the calculation of the Borrowing Base, Gross Asset
Balance and the Unamortized Equipment Receivables Balance shall not include any monthly 
  

 A-3 

 payments payable after the end of the base term of the NMCI Contract (without giving effect to any renewals thereof).

  
 “Borrowing Base Period” means, as to any
portion of any Task Order Specific Contract Payments, 
  
 (i) if at least 24 months remain in the Base Term of the NMCI Contract at the time of determination, a period of the lesser of (a) 36 months and (b) the number of months remaining in the Base Term; and 
  
 (ii) if less than 24 months remain in the Base Term of the
NMCI Contract at the time of determination, zero. 
  
 “Business Day” means each day which is neither a Saturday, a Sunday nor any other day on which banking institutions in New York, New York, are authorized or obligated by law or required by executive order to be closed.

  
 “Change of Control” has the meaning given in
Section 1.1 of the Sale and Servicing Agreement. 
  
 “Clean-up Call” has the meaning given in Section 11.2(a) of the Indenture. 
  
 “Code” means the Internal Revenue Code of 1986, as amended, and the Treasury Regulations adopted pursuant thereto as in effect from time
to time and any successor statute or regulations thereto. 
  
 “Collateral” has the meaning given in the Granting Clause of the Indenture. 
  
 “Collection Period” means as to the first such period, from the first Advance Date through the last day of the calendar month preceding
the first Distribution Date occurs and thereafter the period from and including the first day of the calendar month preceding a related Determination Date to and including the last day of such calendar month. 
  
 “Collection Ratio” means the ratio (expressed as a
percentage) computed for each calendar month by dividing (a) the aggregate amount of Collections received in that calendar month by (b) the sum of the aggregate amount of Invoices issued in the immediately preceding calendar month plus without
duplication, the sum, for all such Invoices, of the Dilution attributable to such Invoice and, without duplication, the amount of each such Invoice disputed for such calendar month; provided that the Collections with respect to, and the
amount of Invoices related to, one-time or special-incentive Contract Payments shall be excluded from this ratio. 
  
 “Collections” means all payments and amounts received from the NMCI Contract Obligor in respect of the NMCI Contract, the Contract
Payments and other Collateral (including periodic payments made in respect of the fulfillment of obligations by the Sellers to the NMCI Contract Obligor under the NMCI Contract, interest and other charges, but excluding all amounts paid by the NMCI
Contract Obligor directly to First Tier Small Business Subcontractors) and all Deemed Collections. 
  

 A-4 

 “Commitment Termination Date” has the meaning given in the Note Purchase Agreement.

  
 “Consolidation Fee” has the meaning given to
such term in the Note Purchase Agreement. 
  
 “Consolidation Fee Rate” for any Managing Agent and its related Ownership Group, has the meaning set forth in the Fee Letter. 
  
 “Contract Payments” has the meaning given in Section 1.1 of the Sale and Servicing Agreement. 
  
 “Contract Payments Assignment” has the meaning given in
Section 1.1 of the Sale and Servicing Agreement. 
  
 “Counter-Hedge Agreement” means the Counter-Hedge Agreement, dated as of November 7, 2001, by and between EIS and the Issuer, as amended and supplemented from time to time. 
  
 “Corporate Trust Office” means 
  
 (a) for the Indenture Trustee, the principal office at which at any
particular time its corporate trust business concerning this Indenture shall be administered, which office at date of the execution of the Indenture is located at 225 Asylum Street, 23rd Floor, Hartford, CT 06103, Attn: Corporate Trust Department, or at such other address as the Indenture Trustee may designate from time to time by notice to
the Noteholders and the Sellers, or the principal corporate trust office of any successor Indenture Trustee (the address of which the successor Indenture Trustee will notify the Noteholders and the Sellers); 
  
 (b) for the Owner Trustee, the principal office at which at any particular
time its corporate trust business shall be administered, which office at date of the execution of the Indenture is located at 502 White Clay Center, Route 273, Newark, DE 19711, Attn: Corporate Trust. 
  
 “Debt” of any Person means all obligations, contingent or
otherwise, which in accordance with GAAP should be classified upon such Person’s balance sheet as liabilities, but in any event including liabilities secured by any lien or encumbrance existing on property owned or acquired by such Person or an
Affiliate thereof (whether or not the liability secured thereby shall have been assumed), obligations which have been or under GAAP should be capitalized for financial reporting purposes, obligations under acceptance facilities and reimbursement
obligations and all guaranties, recourse, endorsements, and other contingent obligations with respect to Debt of others, including any obligations to acquire any such Debt, to purchase, sell, or furnish property or services primarily for the purpose
of enabling such other Person to make payment of any of such Debt, or to otherwise assure the owner of any of such Debt against loss with respect thereto. 
  
 “Deemed Collections” means any Collections deemed to have been received pursuant to Section 3.2(g) or (h) of the Sale and
Servicing Agreement. 
  

 A-5 

 “Default” means any occurrence that is, or with notice or the lapse of time or both
would become, an Event of Default. 
  
 “Determination
Date” means the seventh calendar day prior to each Distribution Date. 
  
 “Dilution” means a reduction in the amount of any Contract Payments attributable to any non-cash items including credits, rebates, billing errors (upon determination of such), price reductions,
disputes (including disputes regarding billing) which continue for longer than 120 days, set-offs, counterclaims and other adjustments. For the avoidance of doubt, “Dilution” does not include any reductions in the amount of any Contract
Payments due to such Contract Payments being written off as uncollectible due to the insolvency of the NMCI Contract Obligor. 
  
 “Distribution Date” means, November 20, 2003 and the 20th day of each calendar month thereafter or, if such 20th day is not a Business
Day, the next succeeding Business Day. 
  
 “Dollars,” “$” or “U.S. $” means United States dollars. 
  
 “EDS” means Electronic Data Systems Corporation, a Delaware corporation. 
  
 “EIS” means EDS Information Services, L.L.C., a Delaware limited liability company. 
  
 “Eligible Asset” means, as of any date of determination, any
Task Order Specific Contract Payments relating to a particular Task Order issued by the NMCI Contract Obligor with respect to which the following criteria are then satisfied: 
  
 (a) it has been originated by the Sellers in compliance with all applicable laws and regulations and only those Task Order
Specific Contract Payments which are payable on or prior to the end of the base term of the NMCI Contract (without giving effect to any renewals thereof) are included as “Eligible Assets”; 
  
 (b) the NMCI Contract Obligor has issued the particular Task Order and the
relevant Seller has delivered an initial Invoice (and all subsequent Invoices deliverable on or prior to such date of determination pursuant to the NMCI Contract) to the NMCI Contract Obligor in connection with that Task Order in accordance with the
NMCI Contract and the provisions of the FAR indicating the amount of the monthly payment to be made by the NMCI Contract Obligor in the Collection Period to which such payment relates; 
  
 (c) those Task Order Specific Contract Payments pursuant to which the payment is made arose in accordance with the NMCI
Contract and the FAR; 
  
 (d) a complete original counterpart of
the NMCI Contract or a complete copy of the NMCI Contract, certified by EDS as to its conformity to an original counterpart of the NMCI Contract, has been delivered to the Indenture Trustee; 
  
 (e) one of the Sellers or the Servicer (1) has certified to the Indenture
Trustee and each Managing Agent the aggregate amount of such Task Order Specific Contract Payments (which certification may be accomplished by the delivery of the certificate contemplated by Section 2.1(f) of the Sale and Servicing Agreement), as
determined by the Sellers, (2) has 
  

 A-6 

 certified the Product Cost of the Subject Equipment associated with the Task Order Specific Payments as designated by the
Servicer, and (3) has designated to the Indenture Trustee and each Managing Agent the initial Amortization Period for each Equipment Receivable, as determined by the Servicer (which designation, in the case of an initial Amortization Period, will be
accomplished by the delivery of a Notice of Advance (as defined in the Note Purchase Agreement) by the Servicer which sets the Amortization Period.). 
  
 (f) there exists a legal, valid and binding obligation of the NMCI Contract Obligor to make payment of the monthly payment set forth in each Invoice
described in paragraph (b) above; 
  
 (g) no litigation has been
instituted or, to either of the Sellers’ knowledge, threatened, which if determined adversely to either Seller would result in the NMCI Contract Obligor not being obligated to make such payment or would reduce the amount of such payment, and
the payment is not subject to, nor has the NMCI Contract Obligor asserted, any right of rescission as to its obligation to make the payment, any right of set off other than the setoff rights not affected or waived by the NMCI Contract Obligor as a
result of Section 5.17 of the NMCI Contract and as to such unwaived setoff rights, that Seller does not owe to the NMCI Contract Obligor as of that date of determination any amount that could result in such a setoff, any counterclaim or any
defense to its obligation to make such payment; 
  
 (h) the
Indenture Trustee has a first priority perfected security interest in the Contract Payments and a security interest in the Subject Equipment, which security interest in the Subject Equipment may be perfected by the filing of one or more UCC-1
financing statements; 
  
 (i) those Task Order Specific Contract
Payments are denominated and payable in U.S. dollars; 
  
 (j) the
NMCI Contract Obligor has an enforceable obligation to make those Task Order Specific Contract Payments in accordance with the terms of the NMCI Contract, the FAR and other applicable law; 
  
 (k) at the time the Contract Payments that comprise in part those Task Order
Specific Contract Payments are included in the Borrowing Base as reported in any Monthly Report as Eligible Assets, EDS and EIS have satisfied all of their obligations to be fulfilled up until that time under the NMCI Contract in order for those
Task Order Specific Contract Payments to be owing; 
  
 (l) the
Sellers validly sold and assigned to the Issuer, and the Issuer transferred to the Indenture Trustee, good title to those Task Order Specific Contract Payments, free and clear of all Liens, except Permitted Liens and the same has not been released
pursuant to the Release or otherwise; 
  
 (m) either (i) the NMCI
Contract Obligor bears the risk of loss of the Subject Equipment and is obligated to compensate the Sellers or their assigns for any losses of items of Subject Equipment or (ii) one or both of the Sellers maintain casualty insurance with respect to
the Subject Equipment with coverage limits of amounts sufficient to cover at all times the 
  

 A-7 

 outstanding amounts of the Advances under the Notes associated with the item of Subject Equipment to which the payment
relates; 
  
 (n) no provision of the NMCI Contract has been
compromised, rewritten, adjusted or otherwise modified except as permitted by the Transaction Documents; 
  
 (o) the NMCI Contract Obligor has received notice of the assignment of the Contract Payments and has acknowledged that the payments under the NMCI
Contract (other than any payments made directly by the NMCI Contract Obligor to First Tier Small Business Subcontractors, payments made by Governmentwide purchase or credit cards or payments made by Persons other than the NMCI Contract Obligor who
may order performance under the NMCI Contract and pay the Sellers for that performance directly) will be remitted to the Indenture Trustee; 
  
 (p) such Task Order Specific Contract Payments, insofar as they relate to that payment, are either an “account”, or a “general
intangible” or a “payment intangible” as defined under the UCC; 
  
 (q) the NMCI Contract contains a “no set-off commitment” from the NMCI Contract Obligor generally in the form found in 48 C.F.R. §52.232-23 as “Alternate I” or some variant of that form not
materially less favorable to the Noteholders; 
  
 (r) to the
extent that they are presented or transmitted in electronic form (as opposed to paper), the Task Orders issued by the NMCI Contract Obligor covering the services associated with the items of Subject Equipment related to such payment and any Invoice
issued by the Sellers comply, in each case, with all applicable federal and state laws, rules and regulations (whether now existing or hereafter enacted) regarding electronic transactions, and electronic records retention requirements; 

 
 (s) all software licenses necessary for the Sellers to fulfill EDS’
or EIS’ obligations under the NMCI Contract on the date of determination have been obtained and are in force; 
  
 (t) such Task Order Specific Contract Payments will not be paid by credit card or Governmentwide purchase card by the NMCI Contract Obligor; and

  
 (u) the Subject Equipment necessary to the performance of the
obligations that are a part of the NMCI Deliverables (as defined in the Sale and Servicing Agreement) that relate to the Task Orders giving rise to such Task Order Specific Contract Payments has been delivered and, to the extent that Subject
Equipment is to be or is being used at a fixed location, has been installed. 
  
 “Eligible Institution” means any depository institution (which may be the Owner Trustee or the Indenture Trustee) organized under the laws of the United States or any one of the states thereof,
including the District of Columbia (or any domestic branch of a foreign bank), which depository institution at all times (a) has FDIC deposit insurance and (b) has (i) a long-term unsecured debt rating acceptable to each Managing Agent, which in the
case of Standard and Poor’s shall be a rating of AAA or (ii) a certificate of deposit rating acceptable to each Managing Agent which in the case of Standard and Poor’s shall be a rating of A-1+. Notwithstanding the 
  

 A-8 

 previous sentence, any institution the appointment of which each Managing Agent has consented to shall be considered an
Eligible Institution. 
  
 “Equipment Receivable”
means the part of any Task Order Specific Contract Payments certified by the Servicer to the Indenture Trustee as payable by the NMCI Contract Obligor and designated as being related to certain Subject Equipment by the Servicer. 
  
 “Equipment Receivable Consideration” has the meaning given
in Section 1.1 of the Sale and Servicing Agreement. 
  
 “Equity Certificate” means the trust certificate evidencing the beneficial equity interest in the Issuer. 
  
 “Event of Default” has the meaning given in Section 5.1 of the Indenture. 
  
 “Expenses” has the meaning given in Section 9.02 of
the Trust Agreement. 
  
 “FAR” means the Federal
Acquisition Regulations. 
  
 “FDIC” means the
Federal Deposit Insurance Corporation. 
  
 “Fee
Letter” has the meaning given to such term in the Note Purchase Agreement. 
  
 “Final Maturity Date” means the April 20, 2007 Distribution Date. 
  
 “First Tier Small Business Subcontractors” means the subcontractors referred to in Section 5.10 of the NMCI Contract. 

 
 “Funding Date” has the meaning given to such term in the
Note Purchase Agreement. 
  
 “GAAP” means
generally accepted accounting principles in the United States of America in effect from time to time. 
  
 “Governmental Authority” means the United States of America, any state or other political subdivision thereof and any entity or body
exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government. 
  
 “Grant” means to mortgage, pledge, bargain, warrant, alienate, remise, release, convey, assign, transfer, create, and grant a lien upon
and a security interest in and right of set-off against, deposit, set over and confirm pursuant to the Indenture. A Grant of the Collateral or of any other agreement or instrument shall include all rights, powers and options (but none of the
obligations) of the Granting party thereunder, including if available the immediate and continuing right to claim for, collect, receive and give receipt for principal and interest payments in respect of the Collateral and all other moneys payable
thereunder, to give and receive notices and other communications, to make waivers or other agreements, to exercise all rights and options, to bring Proceedings in the name of the Granting party or otherwise and generally to do and receive anything
that the Granting party is or may be entitled to do or receive thereunder or with respect thereto. 
  

 A-9 

 “Gross Asset Balance” means as of any date of determination, the sum of, for all
Invoices upon which an Advance has been made or requested, the product of, for each invoice issued by EDS or one of its Affiliates to the NMCI Contract Obligor pursuant to the NMCI Contract in respect of NMCI Deliverables and a particular Task Order
or Task Orders: 
  
 (a) the monthly amount payable as stated in
each such Invoice; times 
  
 (b) the number of months in the
Borrowing Base Period, determined at the time such Advance was made or requested, as to which such Invoice relates; times 
  
 (c) the Advance Rate; times 
  
 (d) the quotient of: 
  
 (1) the remaining number of months in the respective Advance Paydown Period of the Equipment Receivable related to that Invoice; divided by 

 
 (2) the number of months in the initial Amortization Period for the
Equipment Receivable related to that Invoice; 
  
 provided,
however, that, for purposes of the calculation of the foregoing amounts, the amount of any such Invoice does not exceed the monthly price specified in the NMCI Contract associated with the related Task Order or Task Orders covered by such Invoice
and provided further that no Invoice issued in respect of the same NMCI Deliverables as another Invoice already included in the Gross Asset Balance shall be included in the Gross Asset Balance and that Invoices relating to a Task Order for which an
Advance was made, but has been paid in full, shall be deemed to be Invoices relating to a Task Order or Task Orders as to which no Advance has previously been made for purposes of calculating the Gross Asset Balance, Borrowing Base Period, the
Advance Paydown Period and the Amortization Period; and provided further that, for purposes of the Advance to be made on the Funding Date, the Gross Asset Balance shall be recalculated as of the Funding Date based on the assumption
that no prior Advances had been made and the Outstanding Amount immediately after the Funding Date is the amount advanced on the Funding Date. 
  
 “Guaranty” means that Amended and Restated Guaranty dated as of the date hereof, made by EDS in favor of the Issuer and the Indenture
Trustee, among others, as the same may be as amended, supplemented or otherwise modified from time to time. 
  
 “Hedge Agreement” has the meaning given in the Note Purchase Agreement. 
  
 “Hedge Counterparty” means Citibank, N.A. or any successor Hedge Counterparty under the Transaction
Documents. 
  
 “Hedging Requirements” has the
meaning given in the Note Purchase Agreement. 
  
 “Indenture” means the Indenture, dated August 1, 2001, as amended and restated as of the date hereof, between the Issuer, EIS, as Servicer, EDS, as a Seller and as Guarantor and U.S. 
  

 A-10 

 Bank National Association, as successor in interest to State Street Bank and Trust Company, as Indenture Trustee, as the
same may be amended, supplemented or otherwise modified from time to time. 
  
 “Indenture Trustee” means U.S. Bank National Association, as successor in interest to State Street Bank and Trust Company, in its capacity as trustee under the Indenture, its successors in interest
and any successor indenture trustee under this Indenture. 
  
 “Independent” means, when used with respect to any specified Person, that the Person (a) is in fact independent of the Issuer, any other obligor upon the Notes, the Sellers and any Affiliate of any of the foregoing Persons,
(b) does not have any direct financial interest or any material indirect financial interest in the Issuer, any such other obligor, the Sellers or any Affiliate of any of the foregoing Persons and (c) is not connected with the Issuer, any such other
obligor, the Sellers or any Affiliate of any of the foregoing Persons as an officer, employee, promoter, underwriter, trustee, partner, director or person performing similar functions. 
  
 “Interest Period” means, for any Distribution Date, the period from and including the Distribution Date
immediately preceding such Distribution Date (or, in the case of the first Distribution Date, from and including the date on which the first Advance occurs) to but excluding such Distribution Date. 
  
 “Investment Company Act” means the Investment Company Act of
1940, as amended from time to time, and the rules of the Securities and Exchange Commission promulgated pursuant thereto. 
  
 “Invoice” has the meaning given in Section 1.1 of the Sale and Servicing Agreement. 
  
 “Issuer” means the Government Contract Receivables Note
Trust, a Delaware business trust, which is established by the certificate of organization relating thereto and the Trust Agreement. 
  
 “Issuer Contract Payments Assignment” has the meaning given in Section 1.1 of the Sale and Servicing Agreement. 
  
 “Issuer Order” and “Issuer Request” means a
written order or request signed in the name of the Issuer by any one of its Authorized Officers and delivered to the Indenture Trustee. 
  
 “Level 1 Delinquency Ratio Test” means a test that is satisfied, as of the last day of any calendar month, if: 
  
 (a) Prior to the Distribution Date occurring four months after the total
number of seats generated and installed under the NMCI Contract is equal to or greater than 345,000, the average Collection Ratio for the prior three calendar months, is equal to or greater than 55%; or 
  
 (b) Beginning on the Distribution Date occurring four months after the total
number of seats generated and installed under the NMCI Contract is equal to or greater than 345,000, the average Collection Ratio for the prior three calendar months, is equal to or greater than 70%. 
  

 A-11 

 “Level 1 Delinquency Ratio Test Cure Period” means a period of any three consecutive
calendar months occurring after the last instance in which the Level 1 Delinquency Ratio Test is not satisfied in which the average of the Collection Ratios for each of those three calendar months is equal to or greater than (x) 70% with respect to
a failure of the Level 1 Delinquency Ratio Test set forth in subclause (a) of such definition and (y) 75% with respect to a failure of the Level 1 Delinquency Ratio Test set forth in subclause (b) of such definition. 
  
 “Level 2 Delinquency Ratio Test” means a test that is
satisfied, as of the last day of any calendar month, if 
  
 (a)
Prior to the Distribution Date occurring six months after the total number of seats generated and installed under the NMCI Contract is equal to or greater than 345,000, the average Collection Ratio for the prior five calendar months, is equal to or
greater than 55%; or 
  
 (b) Beginning on the Distribution Date
occurring six months after the total number of seats generated and installed under the NMCI Contract is equal to or greater than 345,000, the average Collection Ratio for the prior five calendar months, is equal to or greater than 70%. 

 
 “Lien” means any mortgage, deed of trust, security
interest, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or other), equity interest, participation interest, preference, priority or other security agreement or preferential arrangement of any kind or nature
whatsoever including any conditional sale or other title retention agreement, any financing lease having substantially the same economic effect as any of the foregoing and the filing of any financing statement under the UCC (other than any such
financing statement filed for informational or precautionary purposes only) or comparable law of any jurisdiction to evidence any of the foregoing; provided, however, that any assignment pursuant to the Indenture shall not be deemed to
constitute a Lien. 
  
 “Liquidity Fee” has the
meaning given to such term in the Note Purchase Agreement. 
  
 “Liquidity Fee Rate” for any Managing Agent and its related Ownership Group, has the meaning set forth in the Fee Letter. 
  
 “Managing Agent” has the meaning given to such terms in the Note Purchase Agreement. 
  
 “Maximum Amount” has the meaning given in the Note Purchase
Agreement. 
  
 “Monthly Interest” has the meaning
given in Section 2.06 of the Note Purchase Agreement. 
  
 “Monthly Report” means the report in the form of Exhibit 4 to the Indenture and Exhibit D to the Sale and Servicing Agreement. 
  
 “Moody’s” means Moody’s Investors Service, Inc., or its successor. 
  
 “NMCI Contract” means the agreement referred to as Contract
N00024-00-D-6000 dated as of October 6, 2000 between the NMCI Contract Obligor and EDS in the form delivered to 
  

 A-12 

 each Managing Agent and its counsel and subject to amendments made without violating the Sale and Servicing Agreement.

  
 “NMCI Contract Obligor” has the meaning given
to such term in Section 1.1 of the Sale and Servicing Agreement. 
  
 “Note Initial Principal Amount” has the meaning given in the Note Purchase Agreement. 
  
 “Note Interest Rate” has the meaning given to such term in the Note Purchase Agreement. 
  
 “Note Purchase Agreement” means the Note Purchase Agreement,
dated as of September 19, 2001, as amended and restated as of October 22, 2003, among the Issuer, EDS, EIS, the Indenture Trustee, and the Conduit Purchasers, Committed Purchasers, Managing Agents and Alternate Transferees from time to time party
thereto. 
  
 “Note Register” has the meaning
given in Section 2.4 of the Indenture. 
  
 “Note
Repurchase Price” has the meaning given in the Note Purchase Agreement. 
  
 “Noteholder” means the Person in whose name a Note is registered on the Note Register or, at any time when a Note is registered in the name of a Managing Agent, the term “Noteholder”, shall
mean each Owner in such Managing Agent’s Ownership Group then party to the Note Purchase Agreement. 
  
 “Notes” means all Notes issued by the Issuer pursuant to the Indenture. 
  
 “Notice Date” has the meaning given in Section 1.1 of the Sale and Servicing Agreement. 

 
 “Notices” has the meaning given in Section 6.4(a)
of the Sale and Servicing Agreement. 
  
 “Obligations” means the Outstanding Amount, together with all accrued and unpaid interest thereon, all Breakage Amounts and Additional Amounts, and all other payment obligations of the Issuer to the Administrative Agent,
each Managing Agent, the Noteholders, the Indenture Trustee, the Hedge Counterparty and the Owner Trustee under the Transaction Documents. 
  
 “Officer’s Certificate” means a certificate signed by any Authorized Officer of either Seller or the Servicer and delivered to the
Indenture Trustee. 
  
 “Operations Account” has
the meaning given in Section 8.3 of the Indenture. 
  
 “Opinion of Counsel” means a written opinion of counsel, who may be counsel for EDS and/or EIS or the Servicer and who shall be reasonably acceptable to the Indenture Trustee, provided that a Tax Opinion shall be an
opinion of nationally recognized tax counsel. 
  
 “Outstanding” means, as of the date of determination, all Notes theretofore authenticated and delivered under this Indenture except: 
  

 A-13 

 (i) Notes theretofore canceled by the Indenture Trustee or delivered to the Indenture
Trustee for cancellation; 
  
 (ii) Notes or
portions thereof the payment for which money in the necessary amount has been theretofore deposited with the Indenture Trustee in trust for the Noteholders (provided, however, that if such Notes are to be redeemed, notice of such
redemption has been duly given pursuant to this Indenture or provision therefor, satisfactory to the Indenture Trustee, has been made); and 
  
 (iii) Notes in exchange for or in lieu of other Notes which have been authenticated and delivered pursuant to this Indenture unless proof
satisfactory to the Indenture Trustee is presented that any such Notes are held by a protected purchaser (as defined in Section 8-303 of the UCC); 
  
 provided that in determining whether the Noteholders representing the requisite Outstanding Notes have given any request, demand, authorization, direction, notice,
consent or waiver hereunder, Notes owned by the Issuer, any other obligor upon the Notes, the Sellers, the Servicer or any Affiliate of any of the foregoing Persons shall be disregarded and deemed not to be Outstanding, except that, in determining
whether the Indenture Trustee shall be protected in relying upon any such request, demand, authorization, direction, notice, consent or waiver, only Notes that a Trustee Officer of the Indenture Trustee actually knows to be so owned shall be so
disregarded. Notes so owned that have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Indenture Trustee the pledgee’s right so to act with respect to such Notes and that the
pledgee is not the Issuer, any other obligor upon the Notes, the Sellers, the Servicer or any Affiliate of any of the foregoing Persons. In making any such determination, the Indenture Trustee may conclusively rely on the representations of the
pledgee and shall not be required to undertake any independent investigation. 
  
 “Outstanding Amount” means, at any date of determination, the aggregate Outstanding Principal Balance of all Notes Outstanding at such date. 
  
 “Outstanding Principal Balance” has the meaning given in the
Note Purchase Agreement. 
  
 “Owner” has the
meaning given in the Note Purchase Agreement. 
  
 “Owner
Trustee” means The Bank of New York (Delaware), a Delaware banking corporation, in its capacity as owner trustee under the Trust Agreement, its successors in interest and any successor owner trustee under the Trust Agreement. 
  
 “Ownership Group” has the meaning given in the Note Purchase
Agreement. 
  
 “Permitted Investments” means (a)
negotiable instruments or securities represented by instruments in bearer or registered form which evidence (i) obligations of or guaranteed by the United States of America, (ii) time deposits in, certificates of deposit of, or bankers’
acceptances issued by, any depositary institution or trust company incorporated under the laws of the United States of America or any state thereof and subject to supervision and examination by federal or state banking or depositary institution
authorities, provided, however, that at the time of the 
  

 A-14 

 Trust’s investment or contractual commitment to invest therein, the certificates of deposit or short-term deposits,
if any, or long-term unsecured debt obligations (other than such obligation whose rating is based on collateral or on the credit of a Person other than such institution or trust company) of such depositary institution or trust company shall have a
credit rating from Moody’s and Standard & Poor’s of P-1 and A-1+, respectively, in the case of the certificates of deposit or short-term deposits, or a rating from Moody’s of Aaa and from Standard & Poor’s of AAA in the
case of the long-term unsecured debt obligations, or such time deposits are fully insured by the FDIC, (iii) certificates of deposit having, at the time of the Trust’s investment or contractual commitment to invest therein, a rating from
Moody’s and Standard & Poor’s of P-1 and A-1+, respectively, and (iv) investments in money market funds rated in the highest investment category by Moody’s and Standard & Poor’s; (b) demand deposits in the name of the
Issuer or the Indenture Trustee in any depositary institution or trust company referred to in (a) (ii) above; and (c) securities not represented by an instrument, which are registered in the name of the Indenture Trustee upon books maintained for
that purpose by or on behalf of the issuer thereof and identified on books maintained for that purpose by the Indenture Trustee as held for the benefit of the Issuer or the Noteholders, and consisting of shares of an open end diversified investment
company which is registered under the Investment Company Act of 1940, as amended, and which (i) invests its assets exclusively in obligations of or guaranteed by the United States of America or any instrumentality or agency thereof having in each
instance a final maturity date of less than one year from their date of purchase or other Permitted Investments, (ii) seeks to maintain a constant net asset value per share and (iii) has aggregate net assets of not less than $100,000,000 on the date
of purchase of such shares, and to which each Managing Agent has provided its consent. 
  
 “Permitted Liens” has the meaning given in Section 1.1 of the Sale and Servicing Agreement. 
  
 “Person” means any legal person, including any individual, corporation, partnership, joint venture, association, joint-stock company,
limited liability company, statutory trust, business trust, trust, unincorporated organization, governmental entity or other entity of similar nature. 
  
 “Proceeding” means any suit in equity, action at law or other judicial or administrative proceeding. 
  
 “Program Support Agreement” has the meaning given in the
Note Purchase Agreement. 
  
 “Program Support
Provider” has the meaning given in the Note Purchase Agreement. 
  
 “Qualified Account” means either (a) a segregated account with an Eligible Institution, or (b) a segregated trust account with the corporate trust department of a depository institution organized
under the laws of the United States or any one of the states thereof, including the District of Columbia (or any domestic branch of a foreign bank), and acting as a trustee for funds deposited in such account, so long as any of the securities of
such depository institution shall have a credit rating from Moody’s and Standard & Poor’s in one of its generic credit rating categories that signifies investment grade and it being understood that it is in the best interests of the
parties to the Transaction Documents that the assets held in any such account shall be for all 
  

 A-15 

 purposes the property of the Issuer (but subject to the Lien of the Indenture) and that the Eligible Institution or
depositary institution shall not have any interest in such assets. 
  
 “Rapid Amortization Event” means: 
  
 (a) either Seller becomes aware, or reasonably believes, that the NMCI Contract Obligor intends to terminate, rescind or cancel the NMCI Contract; 
  
 (b) either Seller receives a notice from the NMCI Contract Obligor informing that Seller of its intention to terminate, rescind or cancel the NMCI
Contract that is not withdrawn; 
  
 (c) the NMCI Contract is
terminated, rescinded or cancelled; 
  
 (d) on any two consecutive
Distribution Dates, after the application of the funds available in the Operations Account in accordance with Article VIII of the Indenture, the Outstanding Amount plus all accrued and unpaid interest thereon exceeds the Borrowing Base; 

 
 (e) either Seller has received from the NMCI Contract Obligor a “cure
notice” (as such term is used in the Federal Acquisition Regulations) demanding that one or both of the Sellers cure a default under, a breach of, or a failure to perform the Sellers’ obligations under, the NMCI Contract and such
“cure notice” remains outstanding and such default, breach or failure remains uncured; or 
  
 (f) the Level 1 Delinquency Ratio Test shall not have been satisfied and the Level 1 Delinquency Ratio Test Cure Period shall not have occurred;

  
 and, in each case, which event does not yet give rise to a Termination Event.

  
 “Rate Cap Agreement” has the meaning given in
the Note Purchase Agreement. 
  
 “Record Date”
means, with respect to any Distribution Date, the last Business Day of the calendar month immediately preceding such Distribution Date. 
  
 “Release” has the meaning given in Section 1.1 of the Sale and Servicing Agreement. 
  
 “Repurchase Price” has the meaning given in Section
1.1 of the Sale and Servicing Agreement. 
  
 “Repurchase Assets” has the meaning given in Section 1.1 of the Sale and Servicing Agreement. 
  
 “Required Noteholders” has the meaning given in the Note Purchase Agreement. 
  
 “Requirements of Law” for any Person means the certificate
of incorporation or articles of association and by-laws or other organizational or governing documents of such Person, and any law, treaty, rule or regulation, or order or determination of an arbitrator or Governmental Authority, which is final and
not subject to any appeal, in each case applicable to or binding upon such Person or to which such Person is subject, whether Federal, state or local. 
  

 A-16 

 “Responsible Officer” means, as to the Issuer or the Owner Trustee, any officer assigned
to the Corporate Trust Office, including any managing director, vice president, assistant vice president, assistant treasurer, assistant secretary or any other officer of the Issuer or Owner Trustee customarily performing functions similar to those
performed by any of the above designated officers and having direct responsibility for the administration of the applicable Transaction Documents, and also, with respect to a particular matter, any other officer, to whom such matter is referred
because of such officer’s knowledge of and familiarity with the particular subject. 
  
 “Sale and Servicing Agreement” means the Sale and Servicing Agreement, dated as of September 19, 2001, as amended and restated as of October 22, 2003, among the Sellers, the Servicer and the Trust, as
Issuer. 
  
 “Securities Account” means the
Operations Account. 
  
 “Securities Account Control
Agreement” means the Securities Account Control Agreement, dated as of September 19, 2001, between the Issuer and the Indenture Trustee, as Securities Intermediary and Secured Party. 
  
 “Seller” means, as the context may require, either or both
of EDS and EIS. 
  
 “Servicer” means EIS.

  
 “Standard & Poor’s” means Standard
& Poor’s Ratings Services, or its successor. 
  
 “Stated Amount” with respect to a Note means an amount equal to the dollar amount specified on the face of such Note, which represents the maximum aggregate outstanding principal amount of the Advances pursuant to such
Note. 
  
 “Strike Interest Rate” has the meaning
given in the Note Purchase Agreement. 
  
 “Subject
Equipment” has the meaning given in Section 1.1 of the Sale and Servicing Agreement. 
  
 “Task Order” has the meaning given in Section 1.1 of the Sale and Servicing Agreement. 
  
 “Task Order Specific Contract Payments” has the meaning
given in Section 1.1 of the Sale and Servicing Agreement. 
  
 “Tax Opinion” means, with respect to any action, an Opinion of Counsel to the effect that, for federal income tax purposes, (a) such action will not adversely affect the tax characterization of the Notes as debt, (b) such
action will not cause the Issuer to be deemed to be an association (or publicly traded partnership) taxable as a corporation and (c) such action will not cause or constitute an event in which gain or loss would be recognized by any Noteholder.

  
 “Terminating Ownership Group” has the meaning
given in the Note Purchase Agreement. 
  

 A-17 

 “Termination Date” means the earliest to occur of (i) the date specified by EDS as the
Termination Date in a written notice from EDS to each Managing Agent and the Owner Trustee, delivered at least 60 days prior to such specified date; (ii) the day on which a Termination Event or Event of Default has occurred and is continuing if any
Managing Agent delivers a notice of termination following such event unless such Termination Event or Event of Default is an Event of Default described in paragraph (f) or (g) of Section 5.1 of the Indenture, in which case, such
Termination Event shall be automatic and not require notice; (iii) the date of termination of the NMCI Contract; and (iv) the Final Maturity Date. 
  
 “Termination Event” has the meaning given in Section 1.1 of the Sale and Servicing Agreement. 
  
 “Termination Pay-Out Amount” means, for any Terminating
Ownership Group, an amount paid to the Managing Agent for such Terminating Ownership Group for the 36 Distribution Dates following the Commitment Termination Date on which such Ownership Group became a Terminating Ownership Group, equal to
Outstanding Principal Balance of such Terminating Ownership Group’s Note, determined as of such Termination Date divided by the lesser of (i) the weighted average Advance Paydown Period for all portions of all Advances which that Terminating
Ownership Group funded and (ii) 36; provided that if a Rapid Amortization Event has occurred but no longer exists and amounts in excess of the “Termination Pay-Out Amount” were paid to the members of the Terminating Ownership
Group pursuant to Section 8.4(b) of the Indenture while the Rapid Amortization Event was continuing, such excess shall be applied to the monthly payments to be made under Section 8.4(b)(vii) of the Indenture in reverse order of maturity.

  
 “Transaction Documents” means each of the
Indenture, Sale and Servicing Agreement, Trust Agreement, Note Purchase Agreement, Administration Agreement, Guaranty, Securities Account Control Agreement, the Notes, the Administrative Agent Fee Letter, the Fee Letter, each Hedge Agreement, the
Contract Payments Assignment, the Issuer Contract Payments Assignment and any other documents related to this transaction other than the NMCI Contract. 
  
 “Transfer Agent and Registrar” has the meaning given in Section 2.4 of the Indenture. 
  
 “Trust Agreement” means the Trust Agreement relating to the
Issuer, dated as of August 1, 2001, between EDS, EIS and the Owner Trustee, as the same may be amended, supplemented or otherwise modified from time to time. 
  
 “Trust Assets” has the meaning given in Section 1.1 of the Sale and Servicing Agreement. 
  
 “Trust Estate” means all right, title and interest of the
Issuer in and to the property and rights assigned to the Issuer pursuant to Section 2.05 of the Trust Agreement and Section 2.1 of the Sale and Servicing Agreement, all monies, investment property, instruments and other property on
deposit from time to time in the Operations Account, and all other property of the Issuer from time to time, including any rights of the Owner Trustee and the Issuer pursuant to the Transaction Documents. 
  

 A-18 

 “Trustee Officer” means, with respect to the Indenture Trustee, any officer assigned to
the Corporate Trust Services Office, including any managing director, vice president, assistant vice president, assistant treasurer, assistant secretary or any other officer of the Indenture Trustee customarily performing functions similar to those
performed by any of the above designated officers and having direct responsibility for the administration of the applicable Transaction Documents, and also, with respect to a particular matter, any other officer, to whom such matter is referred
because of such officer’s knowledge of and familiarity with the particular subject. 
  
 “UCC” means the Uniform Commercial Code, as in effect in any specified jurisdiction. 
  
 “Unamortized Equipment Receivables Balance,” at any date of determination, means the sum, for all Equipment Receivables that are Eligible
Assets and on which the NMCI Contract Obligor has not defaulted, of the product of (x) the quotient of the portion of the Equipment Receivable Consideration that the Servicer has identified in the related Notice of Advance as related to such
Equipment Receivables divided by the weighted average of the initial number of months in the Amortization Period for all such Equipment Receivables and (y) the weighted average of the number of calendar months remaining in the Amortization Period
for all such Equipment Receivables at such time. 
  
 “Withdrawal Date” means the date on which the Servicer makes any withdrawal from the Operations Account pursuant to Section 8.4(a) of the Indenture. 
  

 A-19

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