Document:

Mortgage and Security Agreement

 Exhibit 10.9 
  
 MORTGAGE AND SECURITY AGREEMENT 
  
 Boston Biomedica, Inc., a corporation organized pursuant to the laws of the Commonwealth of Massachusetts with a principal place of business
at 375 West Street, West Bridgewater, Massachusetts (the “Mortgagor”), for consideration paid, hereby grants to Commerce Bank & Trust Company, a trust company organized pursuant to Massachusetts General Laws, Chapter 172, with a
principal place of business at 386 Main Street, Worcester, Worcester County, Massachusetts, (the “Mortgagee”), with MORTGAGE COVENANTS, to secure the payment of Two Million Nine Hundred Thousand and 00/100($2,900,000.00) Dollars with
interest and any other charges thereon payable as provided in the Mortgagor’s Note of even date (the “Note”), to secure the payment and performance of all covenants and agreements contained herein and any other instruments securing
said Note, (hereafter the “Loan Documents”), and also to secure the payment of any and all liabilities (as hereafter defined) of the Mortgagor to the Mortgagee, the land, situated at 375 West Street, West Bridgewater, Massachusetts,
described in Exhibit A annexed hereto, together with any and all improvements now or hereafter situated thereon (the “Premises”). 
  
 The Mortgagor covenants with the Mortgagee as follows: 
  
 1. The Mortgagor will pay the principal sum of the Note and the interest thereon at the time and place and in the manner provided in the Note. 

 
 2. In the event of a default, the Mortgagor shall deposit with the
Mortgagee on each day when any payment under the Note is required to be made in addition to the payments therein required, a monthly apportionment of one-twelfth (l/12th) of the sum estimated by the Mortgagee to be sufficient to make all payments of
all real estate taxes and governmental charges and assessments upon the Premises as they become due and any balance due for such payments shall be paid by the Mortgagor to the Mortgagee upon demand. The Mortgagee is hereby specifically authorized to
pay when due or at any time thereafter all of said payments and to charge the same to the account of the Mortgagor. Every such deposit may, at the option of the Mortgagee, be applied directly against the obligation with reference to which it was
made, or, to the fullest extent permissible according to law, any other obligation of the Mortgagor secured hereby; such deposits may be commingled with other assets of the Mortgagee and, in the discretion of the Mortgagee, invested by the Mortgagee
for its own account, without any obligation to pay income from such investment, or interest on such deposits, to the Mortgagor, or to account to the Mortgagor for such income in any manner, unless otherwise provided by law. The Mortgagor grants the
Mortgagee in the event of a default hereunder full power and authority as attorney irrevocable of the Mortgagor, coupled with an interest, to apply for and prosecute claims for the abatement of taxes and to collect and endorse any checks issued on
account of the Mortgagor and to retain and apply the same to the debt secured hereby. 
  

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 3. The Mortgagor shall keep the Premises in good order, repair and condition, damage from casualty or
condemnation expressly not excepted, and shall not permit or commit waste on the Premises, nor remove or alter anything which constitutes a part of the Premises without the prior written consent of the Mortgagee and shall permit the Mortgagee, its
agents or employees to enter the Premises, at any reasonable time, for the purpose of inspecting the Premises to determine whether the Mortgagor is in compliance with its obligations under this Mortgage; and Mortgagor further covenants that each and
every part of the Premises shall be maintained and used in accordance with all restrictions, encumbrances or agreements affecting the Premises and with all zoning and building codes and applicable laws, ordinances, rules and regulations of all
public authorities having jurisdiction over the Premises. 
  
 4(a)
The Mortgagor shall pay for and maintain insurance with respect to the Premises against loss or damage by fire and such other hazards as the Mortgagee shall from time to time require, including without limitation, rent insurance and fire insurance;
such insurance policies or, at Mortgagee’s option, certificates thereof, to be deposited (along with evidence of payment of premiums thereon) with and first payable in case of loss to the Mortgagee and to be written by such companies, on such
terms, in such form and for such periods and amounts as the Mortgagee shall from lime to time approve. Throughout the term of the Note, Mortgagor will provide Mortgagee with the renewal policy, or at Mortgagee’s option, certificates thereof
(along with evidence of payment of premiums thereon) at least fifteen (15) days prior to expiration of an existing policy. All such policies shall provide that they shall not be cancelled or amended without at least thirty (30) days prior written
notice to the Mortgagee. Such insurance shall provide that the same shall be payable to Mortgagee notwithstanding any defense the insurer may have to the payment of the same to Mortgagor or to any person holding any interest in the Premises. No
settlement on account of any loss covered by such insurance shall be effected without the prior written consent of the Mortgagee. Mortgagor authorizes Mortgagee, at its option, to adjust and compromise any losses under such insurance for and on
behalf of Mortgagor and any such adjustment and compromise shall be binding on Mortgagor. The Mortgagor shall deposit monthly with the Mortgagee, at the option of the Mortgagee, such sums as the Mortgagee estimates will provide amounts sufficient to
pay, when due, premiums for such insurance, hereby granting to the Mortgagee, in the event of foreclosure, full authority as attorney irrevocable of the Mortgagor, coupled with an interest, to cancel such insurance and retain such premiums as may be
returned, or to transfer such insurance to any person or persons claiming title to the Premises or any part thereof by virtue of foreclosure proceedings. The Mortgagee shall have the option of applying the proceeds which it receives under any such
insurance policies after deducting therefrom all costs and expenses of the Mortgagee in collecting such proceeds (i) to the repair or replacement of the Premises or any portion thereof upon such conditions as the Mortgagee may prescribe and/or (ii)
to or toward the indebtedness secured hereby in such order as the Mortgagee may determine; provided, however, that in the event of a partial loss to or destruction of the Premises rendering less than 50% of the buildings thereon unusable, and
provided further that there exists no Event of Default, Mortgagor shall have the option to use the insurance proceeds to rebuild, in which event the Mortgagee shall hold and disburse the insurance proceeds to the Mortgagor on a construction loan
basis. The Mortgagee shall pay to the 

  

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Mortgagor all such insurance proceeds, to the extent of the Mortgagor’s interest therein, remaining in the Mortgagee’s possession after the full
and complete payment of all such amounts due and payable under this Mortgage or the Note and/or such application as aforesaid. 
  
 4(b) Mortgagor will also cause appropriate liability insurance to be maintained in such amounts as Mortgagee shall request and shall deliver to Mortgagee
evidence of such insurance. 
  
 5. Any awards of damages on
account of any condemnation for public use of or injury to the Premises shall be paid to the Mortgagee. The Mortgagee shall have the option of applying the proceeds which it receives from any such awards, after deducting therefrom all costs and
expenses of the Mortgagee in collecting such proceeds, (i) to the restoration of that portion of the Premises which remains upon such conditions as the Mortgagee may prescribe and/or (ii) to or toward the indebtedness secured hereby in such order as
the Mortgagee may determine. Any balance remaining in the Mortgagee’s possession after the full and complete payment of all amounts secured hereby and/or such application as aforesaid shall, if Mortgagee shall no longer be obligated to make any
advances or otherwise extend credit to Mortgagor and to the extent of the Mortgagor’s interest therein, be paid to the Mortgagor; otherwise the same shall be held by Mortgagee without interest as Collateral Security for the Liabilities secured
hereby. 
  
 6. The Mortgagor shall perform such further acts and
shall execute, acknowledge and deliver to the Mortgagee such instruments as the Mortgagee may require to confirm the grant of this Mortgage. 
  
 7. This Mortgage shall be deemed a grant and conveyance of, and a lien upon all buildings, additions to said buildings, fixtures, structures and
appurtenances which may now or hereafter be located upon or used in connection with the Premises and all such buildings, additions to said buildings, fixtures, structures and appurtenances shall be apart of the real estate covered by this Mortgage
and shall be subject to all of the terms covenants and conditions hereof and shall be security for the payment and performance of all liabilities and indebtedness secured hereby and any further advances which may be made hereunder or otherwise to
the Mortgagor with the same force and effect as if such buildings, additions to the said buildings, fixtures, structures and appurtenances were now owned by the Mortgagor and specifically included herein. 
  
 8. Mortgagor shall maintain full and correct books and records showing in
detail the earnings and expenses of the Premises and will permit Mortgagee or its representatives to examine said books and records, and all supporting vouchers and data, at any time and from time to time upon request by Mortgagee. 
  
 9. The Mortgagor, for itself and for all who may claim through or under it,
hereby expressly waives and releases all right to have the Premises, or any part thereof, or any other property which may hereafter be conveyed or transferred by it to the Mortgagee as security for the 

  

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liabilities and indebtedness hereby secured, marshalled upon any foreclosure sale or other enforcement of the rights of the Mortgagee hereunder. 

 
 10. The Mortgagor shall not suffer nor permit any mechanics lien, judicial
liens or other liens of any kind to be created, on the Premises, and if any should arise or be created, the Mortgagor shall remove, discharge or vacate the same or cause the same to be bonded or otherwise discharged within ten (10) days after the
same shall arise or be created, and if the Mortgagor shall fail to discharge such lien or claim for lien, the Mortgagee may discharge such lien or claim for lien, and the amount of any expenditure so incurred by the Mortgagee shall be added to and
become part of the liabilities and indebtedness secured hereby. 
  
 11. If this Mortgage, by its terms, is now, or at any time, subject or subordinate to a prior mortgage, Mortgagor shall not, without consent of Mortgagee agree to the modification, amendment, or extension of such prior mortgage, and
Mortgagor will perform all obligations of Mortgagor under such Mortgage. 
  
 12. Mortgagor agrees to pay, when due, all fees and expenses incurred by Mortgagee incident to the loan transaction evidenced by the Note and secured by this Mortgage, the assurance of the security represented by the
Mortgage, and incident to the enforcement by Mortgagee of the terms of its rights under the Note and this Mortgage, including, without limitation, attorney’s fees and expenses. From time to time, Mortgagor shall provide Mortgagee, at
Mortgagor’s expense, with an updated appraisal of the Premises or any portion thereof designated by the Mortgagee within thirty (30) days of a written request from Mortgagee such appraisal to be in form and prepared by an appraiser satisfactory
to Mortgagee. 
  
 13(a) The Mortgagor shall at the request of the
Mortgagee submit for examination, all leases then affecting the Premises and on demand shall assign and deliver to the Mortgagee any or all such leases, such assignments to be made by instruments in form and substance satisfactory to the Mortgagee;
Mortgagor hereby irrevocably granting to the Mortgagee full authority as the Mortgagor’s true and lawful attorney-in-fact coupled with an interest, with full power of substitution, to make, execute, acknowledge and deliver such assignments.

  
 13(b) The Mortgagor hereby irrevocably transfers, assigns and
conveys to the Mortgagee all rentals, revenue and other sums (hereafter referred to as the “rentals”) now due or which may hereafter become due under all leases or agreements presently in force or which may hereafter be entered into with
respect to the Premises or any part thereof. The Mortgagor shall have the right, while no event of default shall have occurred, to collect such rentals for its own account from month to month, but for not more than one month in advance. Upon default
by the Mortgagor under this Mortgage or the Note, the Mortgagee shall have the right to enter upon the Premises, and take possession thereof without the consent of the Mortgagor and without the commencement of any action to foreclose this Mortgage.
After the Mortgagee has notified the tenants of such right and 

  

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such default, it shall be entitled to receive, and to collect or cause to be collected, and the tenants shall be obligated to pay to the Mortgagee without
further inquiry as to the existence of any default, all rentals then owing or which may thereafter become payable, and the Mortgagee may give a good and sufficient receipt therefor. The Mortgagee shall incur no obligations with respect to this
assignment, shall not be bound, unless it so agrees, to collect the rental, and shall not be liable for any loss or damage resulting from the noncollection thereof. Any rental collected by the Mortgagee may be applied by it, in its sole and absolute
discretion, in whole or in part, first to Mortgagee’s commission as set forth herein, then to the repayment of any indebtedness secured hereby, in such order as the Mortgagee shall determine; to the maintenance, operation and administration of
the Premises; to the payment or reduction of taxes or other charges affecting the Premises; or to payments for repairs, renewals or other expenses incurred by the Mortgagee in and upon the Premises. The Mortgagee shall be entitled to charge and
recover a reasonable commission not to exceed six (6%) percent on all or any rentals collected by virtue of this section. In the event of the exercise by the Mortgagee of its rights under this section, it shall have the right, as agent for the
Mortgagor, to renew leases and to enter into new leases respecting the Premises upon such terms and conditions as the Mortgagee may determine. The Mortgagor agrees to execute such further documents as the Mortgagee may require to give effect to this
section and, upon receiving notice of the exercise by the Mortgagee of its rights hereunder, shall transfer and deliver to the Mortgagee all Leases and other agreements which affect the Premises. The Mortgagee shall have the right, but without any
obligation to do so, to subordinate this Mortgage and its rights hereunder to any lease or leases of the Premises, and upon execution and recording of any instrument by the Mortgagee which purports to effect such subordination, this Mortgage shall
be subordinate to the lease or leases referred to in such instrument with the same force and effect as if such lease or leases had been executed and delivered prior to the execution, delivery and recording of this Mortgage. 
  
 14. This Mortgage constitutes a security agreement under the Uniform
Commercial Code and creates and Mortgagor grants to Mortgagee a security interest in all improvements to the Premises and fixtures now owned or hereafter acquired by Mortgagor and used or acquired for use on or in connection with the Premises
together with all accessions thereto and substitutions therefore and replacements thereof and parts therefore and all cash and non-cash proceeds of any of the foregoing. Mortgagor shall take all necessary action to maintain and preserve the lien by
the delivering, filing, refiling, recording or re-recording of any financing statements, continuation statements or other security agreements, and the giving of such instruments of further assurance as Mortgagee may from time to time reasonably
request to protect the lien of this Mortgage with respect to such property. Without limiting the foregoing, Mortgagor hereby irrevocably appoints Mortgagee attorney-in-fact for Mortgagor to execute, deliver and file such instruments for and on
behalf of Mortgagor; provided, however, that Mortgagee is not under any duty to Mortgagor to protect, secure, perfect or insure the lien of this Mortgage or any other security agreements referred to herein nor shall Mortgagee have any obligation
for, among other things, the filing of any financing statements under the Uniform Commercial Code. Notwithstanding any release of any or all of that property included in the Mortgage or its satisfaction of record, the terms hereof shall survive as a

  

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security agreement with respect to the security interest created hereby evidenced by the Note. Mortgagor will pay or cause to be paid all taxes and fees
incident to any such filing, refiling, recording and re-recording, and all reasonable counsel fees and other expenses, taxes and other governmental charges incident thereto. 
  
 15. Any transfer, mortgage or pledge of the interest, or any part of the interest, in the Premises of Mortgagor or of the
Obligations of Mortgagor without the written consent of Mortgagee, voluntarily, involuntarily, or by operation of law, shall be deemed a default under the Mortgage. Any consent to any one transfer, mortgage or pledge shall not be a waiver of the
requirement of consent for any further transfer, mortgage or pledge. If Mortgagor’s rights become vested in a person other the a Mortgagor named herein, Mortgagee may deal with that person to extend or modify this Mortgage or the payments
hereunder or the indebtedness secured hereby or release part of the Premises without releasing or diminishing the liability or obligation of the Mortgagor. 
  
 16. The proceeds of loan or loans evidenced by the Note shall be used exclusively for business purposes and no part of the proceeds shall be used for
personal, family, household or agricultural purposes. 
  
 17.
Mortgagor warrants that there has been no release nor is there a present threat of a release of oil or hazardous material as such terms are defined by Massachusetts General Laws, Chapter 21E (“Chapter 21E”) on or in the Mortgaged Property
and that the Mortgagor will prevent any such release or threat of release on or in the Mortgaged Property during the term of this Mortgage. Mortgagor also warrants that it has not received any notification from the Commonwealth of Massachusetts or
any of its agencies under Section 4 of Chapter 21E, or any order under Section 9 of Chapter 21E. Mortgagor covenants to strictly comply with the requirements of Chapter 21E and to promptly notify Mortgagee of any release or threat of release of oil
or hazardous material on or in the Mortgaged Property, and any notice or orders received pursuant to Sections 4 and 9, respectively, of Chapter 21E. Mortgagor hereby covenants to protect, indemnify and hold Mortgagee harmless from and against all
loss, liability, damage and expense, including attorneys’ fees, suffered or incurred by Mortgagee under or on account of Chapter 21E, including without limitation, the filing of a lien against the Mortgaged Property in favor of the Commonwealth
of Massachusetts. The provisions of the paragraph shall survive the discharge of this mortgage. 
  
 In the event that the Mortgagor shall fail to strictly comply with the requirements of Chapter 21E, or any other federal, state or local law, by-law, rule
or regulation regulating the use or disposal of hazardous materials which may be applicable to the Mortgaged Property, the whole sum of principal and interest then remaining unpaid under the Note or other loan documents shall become immediately due
and payable, at the option of the Mortgagee. 
  

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 Mortgagee, at its election and in its sole discretion, may (but is not obligated to) cure any failure on
the part of Mortgagor to comply with Chapter 21E, including, without limitation, the following: 
  
 (a) arrange for the prevention and/or the cleanup of any release or threat of a release of oil or hazardous material on or in the Mortgaged Property, and
pay for such prevention and/or cleanup costs and associated costs; 
  
 (b) pay, on behalf of Mortgagor, any fines or penalties imposed on Mortgagor by the Commonwealth of Massachusetts in connection with such release or threat of release of oil or hazardous material; and 
  
 (c) make any other payment or perform any other act which will prevent a lien
by the Commonwealth of Massachusetts from attaching to the Mortgaged Property. 
  
 Any partial exercise by Mortgagee of the remedies herein set forth, or any partial undertaking on the part of Mortgagee to cure Mortgagor’s failure to comply with Chapter 21E, shall not obligate Mortgagee to
complete the actions taken or require Mortgagee to expend further sums to cure Mortgagor’s noncompliance; neither shall the exercise of any such remedies operate to place upon Mortgagee any responsibility for the operation, control, care,
management or repair of the Mortgaged Property or make Mortgagee the “Operator” of the Mortgaged Property within the meaning of Chapter 21E or a so-called “lender in possession”. 
  
 Any amount paid or costs incurred by Mortgagee as a result of the exercise by
Mortgagee of any of the rights herein set forth, together with interest thereon at the rate equal to the rate then accruing in respect of the Note secured hereby from the date of payment, shall be immediately due and payable by Mortgagor to
Mortgagee, and until paid shall be added to and become a part of the obligations secured hereby, and the same may be collected as part of the obligations secured hereby, and the same may be collected as part of the obligations in any suit hereon or
upon the Note or any other instrument executed in connection herewith; and Mortgagee, by making any such payment or incurring any such costs, shall be subrogated to any rights of Mortgagor to seek reimbursement from any third parties, including,
without limitation, a predecessor-in-interest to Mortgagor’s title who may be a “responsible party” under Chapter 21E in connection with any such release or threat of release of oil or hazardous material. 
  
 18. If there shall be a breach in any condition or covenant of this Mortgage,
the Mortgagee shall have the right, but without any obligation to do so, to cure such default for the account of the Mortgagor, and to add amounts expended for such purpose to the principal sum secured hereby, and the Mortgagee may, but shall not be
obligated to, apply any deposits or any sums credited by or due from the Mortgagor to Mortgagee to cure such default without first enforcing any other rights of the Mortgagee against the Mortgagor, or against any surety, endorser or guarantor of the
indebtedness secured hereby, or against the Premises. In case redemption is had 

  

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by the Mortgagor after foreclosure proceedings have been initiated, the Mortgagee shall be entitled to collect all costs, charges and expenses, including
attorneys’ fees, incurred up to the time of redemption. 
  
 19. The Mortgagor acknowledges that the occurrence of any of the following shall be an Event of Default: (a) failure of Mortgagor to pay when due any amount owing by Mortgagor to Mortgagee; (b) failure of Mortgagor to perform any covenant
or agreement with, or obligation to Mortgagee, other than one for the payment of money; (c) any statement, warranty or representation heretofore or hereafter made to the Mortgagee by or on behalf of the Mortgagor shall prove to have been false or
misleading in any material respect when made; (d) insolvency or business failure of Mortgagor or the appointment of a trustee, receiver, guardian, conservator or liquidator for any of them or any material part of the property of it; (e) assignment
for the benefit of creditors by; execution of a trust mortgage or other arrangement with creditors by; commencement of any proceedings under any bankruptcy, insolvency or other law relating to the relief of debtors by or against the Mortgagor, but
in the case of involuntary proceedings, the same shall not have been dismissed within thirty (30) days after the commencement thereof; (f) any property, real or personal, of Mortgagor (including Premises) or of anyone else, which constitutes
collateral security for any of Mortgagor’s indebtedness, liabilities or obligations to Mortgagee, is condemned, taken by eminent domain, attached, levied upon, seized, encumbered, mortgaged or a lien is permitted or suffered to exist thereon or
is destroyed, damaged, lost, stolen or sold (unless specifically permitted by the terms of the Loan Documents); (g) Mortgagor is in default, breach or violation under any agreement by which it or any of its property (including the Premises) are
bound; or (h) any event occurs or the financial condition of Mortgagor is such that in Mortgagee’s opinion Mortgagor’s ability to pay or perform any of its obligations to Mortgagee in a timely fashion is or may be impaired. 
  
 A Default shall mean any event or occurrence which, with the passage of time
or giving of notice or both would constitute an Event of Default. 
  
 20. So long as any Event of Default shall have occurred and be continuing, then Mortgagee in addition to, and not in limitation of, any and all other rights or remedies available to it by law or by any other provision of any of the
instruments given to secure the Note, shall have the right, without notice: 
  
 (a) To enter upon and take possession of the Premises or any part thereof, and to perform any acts Mortgagee shall deem necessary or proper to conserve or enhance the Premises or their value (including, without
limitation, the making of repairs, replacements and alterations), to manage and operate the Premises, to collect and receive all rents, issues and profits from the Premises, past due and thereafter accruing, and to exercise all other rights of
Mortgagor with respect to the Premises. 
  

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 (b) To have a receiver appointed to enter and take possession of the Premises or any part thereof and to
perform any acts said receiver shall deem necessary or proper to conserve or enhance the Premises or their value, (including, without limitation, the making of repairs, replacements and alterations), to manage and operate the premises and to apply
the profits from the Premises past due and thereafter accruing obligations, and to exercise all other rights of Mortgagor with respect to the Premises. 
  
 (c) To accelerate the maturity of the indebtedness secured by this Mortgage. 
  
 (d) To sell the Premises at public auction upon such terms and conditions as Mortgagee shall determine, subject to the
requirements of this Mortgage and applicable laws; or to foreclose this Mortgage in any other manner permitted by law. 
  
 (e) To obtain judgement and execution for the indebtedness secured by this Mortgage, to the extent not otherwise satisfied. 
  
 21(a) If Mortgagee shall exercise any of the rights described in section 20,
Mortgagor shall be liable to Mortgagee in an amount of equal to all of the expenses (including, without limitation, receiver’s fees and counsel fees) incurred pursuant to the powers herein contained which shall be secured hereby. Mortgagee
shall apply such rents, issues and profits as shall be received by it first to the payment of all costs and expenses incurred and thereafter to the indebtedness secured hereby in such order of priority as Mortgagee, in its sole discretion, shall
determine; and the exercise of such rights and disposition of such funds shall not constitute a waiver of any foreclosure, once commenced, nor preclude the later commencement of foreclosure for breach hereof. 
  
 (b) Mortgagor agrees that all rights of Mortgagee as to personal property
security and real estate security may be exercised together or separately and further agrees that, in exercising its power of sale, Mortgagee may sell the personal property security or any part thereof either separately from, or together with, the
real estate security or any part thereof, in such order as Mortgagee may, in its discretion, elect, and whether or not the aggregate proceeds thereof exceed the indebtedness secured by this Mortgage. At any sale any combination of or all of the
security may be offered for sale for one (1) total price and the proceeds of such sale accounted for in one (1) account without distinguishing between the items of security or assigning to the separate securities proportions, of the proceeds, and,
in case Mortgagee, in the exercise of the power of sale herein given, elects to sell in parts or parcels, said sales may be held from time to time and the power shall not be fully executed until all of the personal property security and real estate
security not previously sold shall have been sold. 
  
 (c) Upon
completion of any sale, Mortgagee shall execute and deliver an instrument conveying, assigning and transferring all right, title and interest in the property and rights solely in 

  

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the name of Mortgagor, or in the name of Mortgagee, and the same shall operate to divest all right, title and interest of Mortgagor in any property or right
so sold and shall be a perpetual bar, both at law and in equity, against Mortgagor and all persons, claiming under Mortgagor. 
  
 (d) No forbearance on the part of the Mortgagee or extension of the time for the payment of the whole or any part of the liabilities secured hereby,
whether or not for additional interest or other consideration paid or payable to the Mortgagee and whether oral or in writing, or any other indulgence given by the Mortgagee to the Mortgagor or to any other party claiming any interest in or to the
Premises, shall operate to release or in any manner affect the original liability of the Mortgagor, or the priority of this Mortgage or to limit, prejudice or impair any right of the Mortgagee, including, without limitation, the right to realize
upon the security, or any part thereof, for the liabilities secured hereby, the notice of any such extension, forbearance or indulgence being hereby waived by the Mortgagor and all those claiming by, through or under the Mortgagor, and no consent or
waiver, to or of any default by the Mortgagor shall be construed as a consent or waiver, express or implied, by the Mortgagee to or of any further default in the same or any other term, condition, covenant or provision of this Mortgage or of the
obligation secured hereby. All remedies provided in this Mortgage are distinct and cumulative to any other right or remedy under this Mortgage or afforded by law or equity, and may be exercised concurrently, independently or successively.

  
 (e) In case redemption is had by Mortgagor after foreclosure
proceedings have begun, Mortgagee shall be entitled to collect all costs, charges and expenses incurred up to the time of redemption; and, in case of foreclosure sale, Mortgagee shall be entitled to retain one percent (1%) of the purchase money in
addition to the costs, charges and expenses allowed by law. 
  
 22. Acceleration of maturity, once claimed hereby by Mortgagee, may, at its option, be rescinded in a written acknowledgement to that effect without waiving the default or any rights, including the right to accelerate again, with respect
thereto. The tender and acceptance of partial payment of amounts after such acceleration, or the commencement of any foreclosure action, shall not in any way affect, rescind or terminate such acceleration of maturity or such foreclosure action.

  
 23. Wherever notice, demand or a request may properly be given
to the Mortgagor under this Mortgage, the same shall always be sufficient to serve as a notice, demand or request hereunder if in writing and sent by registered or certified mail, postage prepaid, return receipt requested, addressed to the Mortgagor
at the address given in this Mortgage as the Mortgagor’s address or the business address of the Mortgagor last known to the Mortgagee and any such notice, demand or request shall be treated as having been given upon such deposit in the United
States mails; and a notice so addressed shall always be a sufficient notice, notwithstanding a change in the ownership of the Premises, whether or not consented to by the Mortgagee; and where more than one person 

  

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constitutes the Mortgagor, one notice sent to the address given in this Mortgage as the Mortgagor’s address or the last known business address of any
one of them shall constitute sufficient notice to all. 
  
 24. The
term “liabilities” as used herein shall include without limitation, any and all liabilities, debts and obligations of the Mortgagor and of the makers of the Note to the Mortgagee, including those contained in the Note and all liabilities,
debts and obligations of each and every maker, surety, endorser or guarantor of the obligations of the Mortgagor and of the makers of the Note to the Mortgagee of every kind and description including, without limitation, all loans, advances,
indebtedness, notes, obligations and amounts, liquidated or unliquidated, owing by the Mortgagor and by the makers of the Note to the Mortgagee at any time, including any notes or other obligations of the Mortgagor assigned to or held by the
Mortgagee, of any kind, nature or description now existing or arising in the future, and whether secured or unsecured, absolute or contingent, or by reason of any cause of action which the Mortgagee may have against the Mortgagor or against the
makers of the Note. The term “liabilities” shall also include all interest and other charges chargeable to the Mortgagor or due from the Mortgagor to the Mortgagee from time to time, and all costs or expenses incurred or paid by the
Mortgagee to enforce this or any other agreement between the Mortgagor and the Mortgagee, including without limitation, attorney’s fees and all of the Mortgagee’s executive, administrative and staff costs and expenses in excess of those
which would normally be incurred in the administration of a financial transaction similar to that between, the Mortgagor and the Mortgagee in which no event of default shall have occurred. 
  
 25. If Mortgagee shall be made party to any action suit or proceeding by
reason of the execution of this Mortgage or the Note, or in which the priority of the lien of this Mortgage shall be challenged, Mortgagor shall reimburse to the Mortgagee, immediately upon demand, all sums of money paid by Mortgagee, including
attorneys fees, to defend said action and uphold the lien created thereby. 
  
 26. If Mortgagor shall be the Trustees of a Trust, the Trustees hereby certify, pursuant to the provisions of such Trust that said Trust is in full force and effect, that said Trust has not been amended and that they
are the said Trustees of said Trust. 
  
 27. Mortgagor is not now
in default under any instruments or obligations relating to the Premises and no party has asserted any claim of default relating to the Premises. The execution and delivery of, and performance of Mortgagor’s obligations under the Loan Documents
and the consummation of the transactions hereby and thereby contemplated will not result in any breach of, or constitute a default under, any contract, mortgage, lease, bank loan or credit agreement, trust indenture, or other instrument to which
Mortgagor is a party or by which Mortgagor the premises or any other property of Mortgagor is or may be bound or affected and do not violate or contravene any law, order, decree, rule or regulation to which Mortgagor, the premises or any other
property of Mortgagor is or may be subject; nor do any such instruments compose or contemplate any 

  

 11 

 
obligations which are or will be inconsistent with any other obligations imposed on Mortgagor under any other instruments heretofore or hereafter delivered
by Mortgagor. 
  
 28. All statements, financial or otherwise,
submitted to Mortgagee in connection with this transaction are true and correct in all respects, and with respect to the financial statements have been prepared in accordance with generally accepted accounting principals consistently applied and
fairly present the financial condition of the parties or entities covered by such statements as of the date thereof and the results of operations of such parties or entities during the period reflecting thereon. No additional borrowings and no
material additional indebtedness have been made or incurred by such parties or entities, or any of them, since the date thereof, nor have Mortgagor or the Premises experienced a material adverse change since the date thereof. Mortgagor is now in a
solvent condition. 
  
 29. If the laws now in force for the
taxation of mortgages or of debts secured by mortgages (including, without limitation, laws exempting from taxation amounts invested in mortgages) shall be changed to the detriment of Mortgagee, then Mortgagee may, at its election accelerate the
maturity of the Note, and upon the exercise of such election the maturity will be accelerated, unless within ninety (90) days after maturity for said reason, Mortgagor, if permitted by law, shall pay to Mortgagee an amount equal to such additional
tax for which Mortgagee shall have become liable or be affected. 
  
 30. The word “Mortgagee” as used herein shall mean the mortgagee named herein and any subsequent holder or holders hereof; the word “Mortgagor” as used herein shall mean the mortgagor named herein and any subsequent
owner or owners of the equity of redemption of the Premises; and all of the covenants and agreements of the Mortgagor herein contained shall be binding upon the Mortgagor, its heirs, executors, administrators, successors and assigns. 
  
 31. The rights and obligations hereunder shall be governed by the laws of The
Commonwealth of Massachusetts. In the event that any provisions or clause of this Mortgage or the Note shall be held invalid in any circumstance, such invalidity shall not effect any other provision or circumstance. 
  
 Mortgagor waives all rights of homestead exemption in the Premises and
relinquishes all rights of curtesy and dower in the Premises. 
  
 This Mortgage is upon the STATUTORY CONDITION and upon further condition that all covenants and agreements on the part of the Mortgagor and of the makers of the Note contained herein and in the Note and in the Loan Documents shall be kept
and fully performed, for any breach of which, including without limitation the occurrence of any Event of Default, the Mortgagee shall have the STATUTORY POWER OF SALE and any other powers given by law. 
  

 12 

 WITNESS the execution hereof under seal this 31st day of March, 2000. 
  

			
	 Boston Biomedica, Inc.

		
	 By:
	 	/s/    RICHARD T.
SCHUMACHER        
	 	 	Richard T. Schumacher, its duly
authorized Chief Executive Officer and
Assistant Treasurer

  
 COMMONWEALTH
OF MASSACHUSETTS 
  

			
	Suffolk, ss.	 	March 31, 2000

  
 Then personally
appeared the above-named Richard T. Schumacher CEO and Assistant Treasurer and acknowledged the foregoing instrument to be the free act and deed of Boston Biomedica, Inc., before me. 
  

	
	
	/s/    HOWARD L. LEVIN        
	Notary Public: Howard L. Levin
	My Commission Expires: 10-13-2006

  

 13Amended and Restated Receivables Purchase Agreement

 Exhibit 10.1 
  
 AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT 
 DATED AS OF SEPTEMBER 10, 2004 
  
 AMONG 
  
 YELLOW ROADWAY RECEIVABLES FUNDING CORPORATION 
 AS SELLER, 
  
 FALCON ASSET SECURITIZATION CORPORATION, 
 BLUE RIDGE ASSET FUNDING CORPORATION, 
 AND 
 THREE PILLARS
FUNDING LLC 
 AS CONDUITS, 
  
 THE FINANCIAL INSTITUTIONS PARTY HERETO, 
 AS COMMITTED PURCHASERS, 
  
 WACHOVIA BANK, NATIONAL ASSOCIATION, 
 AS BLUE
RIDGE AGENT, 
  
 SUNTRUST
CAPITAL MARKETS, INC., 
 AS THREE PILLARS AGENT, 
  
 AND 
  
 BANK ONE, NA (MAIN OFFICE CHICAGO), 
 AS FALCON AGENT AND AS ADMINISTRATIVE AGENT

 TABLE OF CONTENTS 
  

			
	 	  	 PAGE

	 ARTICLE I AMOUNTS AND TERMS OF THE PURCHASES
	  	2
		
	 Section 1.1. Purchase Facility
	  	2
		
	 Section 1.2. Increases
	  	3
		
	 Section 1.3. Decreases
	  	3
		
	 Section 1.4. Payment Requirements
	  	4
		
	 Section 1.5. Payments and Collections
	  	4
	 Section 1.5.1. Payments
	  	4
	 Section 1.5.2. Collections Prior to Amortization
	  	5
	 Section 1.5.3. Collections Following Amortization
	  	5
	 Section 1.5.4. Application of Collections
	  	5
	 Section 1.5.5. Payment Rescission
	  	6
	 Section 1.5.6. Maximum of Purchasers’ Receivable Interests
	  	6
	 Section 1.5.7. Repurchase Option
	  	6
		
	 Section 1.6. Conduit Funding.
	  	7
	 Section 1.6.1. CP Costs
	  	7
	 Section 1.6.2. CP Costs Payments
	  	7
	 Section 1.6.3. Calculation of CP Costs
	  	7
		
	 Section 1.7. Committed Purchaser Funding.
	  	7
	 Section 1.7.1. Committed Purchaser Funding
	  	7
	 Section 1.7.2. Discount Payments
	  	7
	 Section 1.7.3. Selection and Continuation of Tranche Periods
	  	7
	 Section 1.7.4. Committed Purchaser Discount Rates
	  	8
	 Section 1.7.5. Suspension of the LIBOR Rate
	  	8
	 Section 1.7.6. Calculation of Discount
	  	8
		
	 Section 1.8. Grant of Security Interest
	  	8
		
	 Section 1.9. Servicer Fee
	  	9
		
	 ARTICLE II [RESERVED]
	  	9
		
	 ARTICLE III REPRESENTATIONS AND WARRANTIES
	  	9
		
	 Section 3.1. Seller Representations and Warranties
	  	9
	 (a) Corporate Existence and Power
	  	9
	 (b) No Conflict
	  	9
	 (c) Governmental Authorization
	  	10
	 (d) Binding Effect
	  	10
	 (e) Accuracy of Information
	  	10
	 (f) Use of Proceeds
	  	10
	 (g) Title to Receivables
	  	10
	 (h) Good Title; Perfection
	  	10
	 (i) Places of Business
	  	11
	 (j) Collection Banks; etc
	  	11
	 (k) Material Adverse Effect
	  	11
	 (l) Names
	  	11
	 (m) Actions, Suits
	  	11

  

 i 

			
	 (n) Credit and Collection Policies
	  	12
	 (o) Payments to the Applicable Originator
	  	12
	 (p) Ownership of the Seller
	  	12
	 (q) Not an Investment Company
	  	12
	 (r) Purpose
	  	12
	 (s) Net Receivables Balance
	  	12
		
	 Section 3.2. Committed Purchaser Representations and Warranties
	  	12
	 (a) Existence and Power
	  	12
	 (b) No Conflict
	  	12
	 (c) Governmental Authorization
	  	13
	 (d) Binding Effect
	  	13
		
	 ARTICLE IV CONDITIONS OF PURCHASES
	  	13
		
	 Section 4.1. Conditions Precedent to Initial Purchase
	  	13
		
	 Section 4.2. Conditions Precedent to All Purchases and Reinvestments
	  	13
		
	 ARTICLE V COVENANTS
	  	14
		
	 Section 5.1. Affirmative Covenants of Seller
	  	14
	 (a) Financial Reporting
	  	14
	 (i) Annual Reporting
	  	14
	 (ii) Quarterly Reporting
	  	14
	 (iii) Compliance Certificate
	  	14
	 (iv) Copies of Notices, Etc. under Sale Agreement and Other Transaction Documents
	  	14
	 (v) Change in Credit and Collection Policy
	  	14
	 (vi) Other Information
	  	15
	 (b) Notices
	  	15
	 (i) Servicer Defaults or Potential Servicer Defaults
	  	15
	 (ii) Judgment
	  	15
	 (iii) Litigation
	  	15
	 (iv) Termination Date under Sale Agreement
	  	15
	 (v) Downgrade
	  	15
	 (vi) Labor Strike, Walkout, Lockout or Slowdown
	  	15
	 (c) Compliance with Laws
	  	15
	 (d) Audits
	  	15
	 (e) Keeping and Marking of Records and Books
	  	16
	 (f) Compliance with Invoices and Credit and Collection Policy
	  	16
	 (g) Purchase of Receivables from an Originator
	  	16
	 (h) Ownership Interest
	  	16
	 (i) Payment to the Applicable Originator
	  	17
	 (j) Performance and Enforcement of Sale Agreement
	  	17
	 (k) Purchasers’ Reliance
	  	17
	 (l) Collections.
	  	19
	 (m) Minimum Net Worth
	  	20
		
	 Section 5.2. Negative Covenants of Seller
	  	20
	 (a) Name Change, Offices, Records and Books of Accounts
	  	20
	 (b) Change in Payment Instructions to Obligors
	  	20
	 (c) Modifications to Invoices and Credit and Collection Policy
	  	20
	 (d) Sales, Liens, Etc
	  	20
	 (e) Nature of Business; Other Agreements; Other Indebtedness
	  	21
	 (f) Amendments to Sale Agreement
	  	21
	 (g) Amendments to Corporate Documents
	  	21
	 (h) Merger
	  	21
	 (i) Restricted Junior Payments
	  	22

  

 ii 

			
	 ARTICLE VI ADMINISTRATION AND COLLECTION
	  	22
		
	 Section 6.1. Designation of Servicer.
	  	22
		
	 Section 6.2. Duties of Servicer
	  	22
		
	 Section 6.3. Collection Notices
	  	24
		
	 Section 6.4. Responsibilities of the Seller
	  	24
		
	 Section 6.5. Reports
	  	24
		
	 ARTICLE VII SERVICER DEFAULTS
	  	24
		
	 Section 7.1. Servicer Defaults
	  	24
		
	 ARTICLE VIII INDEMNIFICATION
	  	26
		
	 Section 8.1. Indemnities by the Seller
	  	26
		
	 Section 8.2. Increased Cost and Reduced Return
	  	28
		
	 Section 8.3. Costs and Expenses Relating to this Agreement
	  	28
		
	 ARTICLE IX THE AGENTS
	  	29
		
	 Section 9.1. Appointment
	  	29
		
	 Section 9.2. Delegation of Duties.
	  	30
		
	 Section 9.3. Exculpatory Provisions.
	  	30
		
	 Section 9.4. Reliance by Agents.
	  	31
		
	 Section 9.5. Notice of Seller Defaults.
	  	31
		
	 Section 9.6. Non-Reliance on Other Agents and Purchasers.
	  	31
		
	 Section 9.7. Indemnification of Agents.
	  	32
		
	 Section 9.8. Agents in their Individual Capacities.
	  	32
		
	 Section 9.9. UCC Filings.
	  	32
		
	 Section 9.10. Successor Agents
	  	33
		
	 ARTICLE X ASSIGNMENTS; PARTICIPATIONS
	  	33
		
	 Section 10.1. Assignments
	  	33
		
	 Section 10.2. Participations
	  	34
		
	 ARTICLE XI MISCELLANEOUS
	  	34
		
	 Section 11.1. Waivers and Amendments
	  	34
		
	 Section 11.2. Notices
	  	35
		
	 Section 11.3. Ratable Payments
	  	35
		
	 Section 11.4. Protection of Ownership Interests of the Purchasers
	  	36
		
	 Section 11.5. Confidentiality
	  	36
		
	 Section 11.6. Bankruptcy Petition
	  	37
		
	 Section 11.7. Limitation of Liability
	  	37

  

 iii 

			
	 Section 11.8. CHOICE OF LAW
	  	37
		
	 Section 11.9. CONSENT TO JURISDICTION
	  	37
		
	 Section 11.10. WAIVER OF JURY TRIAL
	  	38
		
	 Section 11.11. Integration; Survival of Terms
	  	38
		
	 Section 11.12. Counterparts; Severability
	  	38
		
	 Section 11.13. Co-Agent Roles
	  	38
		
	 Section 11.14. Characterization
	  	39
		
	 EXHIBIT I DEFINITIONS
	  	48
		
	EXHIBIT II CHIEF EXECUTIVE OFFICE OF THE SELLER; LOCATIONS OF RECORDS; FEDERAL EMPLOYER IDENTIFICATION NUMBER AND ORGANIZATIONAL IDENTIFICATION NUMBER	  	68
		
	EXHIBIT III LOCKBOXES; COLLECTION ACCOUNTS; CONCENTRATION ACCOUNTS; AND DEPOSITARY ACCOUNTS	  	69
		
	 EXHIBIT IV FORM OF COMPLIANCE CERTIFICATE
	  	70
		
	 EXHIBIT V FORM OF COLLECTION ACCOUNT AGREEMENT
	  	72
		
	 EXHIBIT VI CREDIT AND COLLECTION POLICY
	  	78
		
	 EXHIBIT VII FORM OF INVOICE(S)
	  	79
		
	 EXHIBIT VIII FORM OF MONTHLY REPORT
	  	80
		
	 EXHIBIT IX FORM OF PURCHASE NOTICE
	  	83
		
	SCHEDULE A DOCUMENTS AND RELATED ITEMS TO BE DELIVERED TO THE ADMINISTRATIVE AGENT ON OR PRIOR TO THE EFFECTIVENESS OF THE RECEIVABLES PURCHASE AGREEMENT	  	85

  

 iv 

 THIS AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT, dated as of September 10, 2004
(as amended, restated or otherwise modified from time to time, this “Agreement”), is by and among: 
  

	 	(a)	Yellow Roadway Receivables Funding Corporation, a Delaware corporation (the “Seller”), 

  

	 	(b)	Bank One, NA (Main Office Chicago) (“Bank One”), SunTrust Bank (“SunTrust”), and Wachovia Bank, National Association
(“Wachovia”), as Committed Purchasers, 

  

	 	(c)	Falcon Asset Securitization Corporation (“Falcon” or a “ Conduit”), Three Pillars Funding LLC (“Three
Pillars” or a “Conduit”), and Blue Ridge Asset Funding Corporation (“Blue Ridge” or a “Conduit”), 

  

	 	(d)	Bank One, NA (Main Office Chicago), as agent for the Falcon Group (together with its successors in such capacity, the “Falcon Agent” or a
“Co-Agent”), SunTrust Capital Markets, Inc. (“STCM”), as agent for the Three Pillars Group (together with its successors in such capacity, the “Three Pillars Agent” or a
“Co-Agent”), and Wachovia Bank, National Association, as agent for the Blue Ridge Group (together with its successors in such capacity, the “Blue Ridge Agent” or a “Co-Agent”),
and 

  

	 	(e)	Bank One, NA (Main Office Chicago), as administrative agent for the Groups pursuant to Article IX of this Agreement (together with its successors in such capacity, the
“Administrative Agent”). 

  
 Unless defined
elsewhere herein, capitalized terms used in this Agreement shall have the meanings assigned to such terms in Exhibit I hereto. 
  
 PRELIMINARY STATEMENTS 
  
 The Seller, Bank One, Wachovia, Blue Ridge, Falcon, the Blue Ridge Agent, the Falcon Agent and the Administrative Agent are parties to
that certain Receivables Purchase Agreement dated as of May 21, 2004 (the “Existing Agreement”). 
  
 The Seller wishes to increase the facility evidenced by the Existing Agreement, and Three Pillars, SunTrust and the Three Pillars Agent
wish to become parties thereto. 
  
 The Seller
desires to continue to transfer and assign Receivable Interests to the Purchasers from time to time. 
  
 Each of the Conduits may, in its absolute and sole discretion, purchase Receivable Interests from the Seller from time to time.

 The Committed Purchasers shall, at the request of the Seller, purchase Receivable
Interests from time to time. 
  
 Bank One has
been requested and is willing to act as agent on behalf of the Falcon Group, STCM has been requested and is willing to act as agent on behalf of the Three Pillars Group, and Wachovia has been requested and is willing to act as agent on behalf of the
Blue Ridge Group in accordance with the terms hereof. 
  
 In addition, Bank One has been requested and is willing to act as administrative agent on behalf of the Groups in accordance with the terms hereof. 
  
 The parties hereto agree as follows: 
  
 ARTICLE I 
 AMOUNTS AND TERMS OF THE
PURCHASES 
  
 Section 1.1. Purchase Facility. Upon the
terms and subject to the conditions hereof, the Seller may from time to time prior to the Amortization Date request that the Groups purchase their respective Percentages of Receivable Interests offered for sale from time to time by delivering a
Purchase Notice to the Co-Agents in accordance with Section 1.2. Upon receipt of a copy of each Purchase Notice from the Seller, each of the Co-Agents shall determine whether its Conduit will purchase, its Group’s Percentage of the Receivable
Interest specified in such Purchase Notice, and 
  
 (a) in the event that Falcon elects not to make its Percentage of such Purchase, the Falcon Agent shall promptly notify the Seller and, unless the Seller cancels the Purchase Notice, each of the Falcon Committed Purchasers severally agrees
to make its Ratable Share of the Falcon Group’s Percentage of such Purchase on the terms and subject to the conditions hereof, provided that at no time may the aggregate Capital of the Falcon Group at any one time outstanding
exceed the least of (i) the aggregate amount of the Falcon Committed Purchasers’ Commitments, (ii) the Falcon Group’s Percentage of the Purchase Limit, and (iii) the Falcon Group’s Percentage of the product of (A) 100% minus the
Aggregate Reserve Percentage, times (B) the Net Receivables Balance; 
  
 (b) in the event that Blue Ridge elects not to make its Percentage of such Purchase, the Blue Ridge Agent shall promptly notify the Seller and, unless the Seller cancels its Purchase Notice, each of the Blue Ridge
Committed Purchasers severally agrees to make its Ratable Share of the Blue Ridge Group’s Percentage of such Purchase, on the terms and subject to the conditions hereof, provided that at no time may the aggregate Capital of the
Blue Ridge Group at any one time outstanding exceed the least of (i) the aggregate amount of the Blue Ridge Committed Purchasers’ Commitments, (ii) the Blue Ridge Group’s Percentage of the Purchase Limit, and (iii) the Blue Ridge
Group’s Percentage of the product of (A) 100% minus the Aggregate Reserve Percentage, times (B) the Net Receivables Balance; and 
  

 2 

 (c) in the event that Three Pillars elects not to make its Percentage of such Purchase,
the Three Pillars Agent shall promptly notify the Seller and, unless the Seller cancels its Purchase Notice, each of the Three Pillars Committed Purchasers severally agrees to make its Ratable Share of the Three Pillars Group’s Percentage of
such Purchase, on the terms and subject to the conditions hereof, provided that at no time may the aggregate Capital of the Three Pillars Group at any one time outstanding exceed the least of (i) the aggregate amount of the Three
Pillars Committed Purchasers’ Commitments, (ii) the Three Pillars Group’s Percentage of the Purchase Limit, and (iii) the Three Pillars Group’s Percentage of the product of (A) 100% minus the Aggregate Reserve Percentage, times (B)
the Net Receivables Balance 
  
 The Seller may, upon at least 30 Business
Days’ notice to the Agents, terminate in whole or reduce in part, ratably between the Groups (and within each Group, ratably amongst the Committed Purchasers therein), the unused portion of the Purchase Limit; provided that each
partial reduction of the Purchase Limit shall be in an amount equal to $10,000,000 or a larger integral multiple of $5,000,000. 
  
 Section 1.2. Increases. The Seller shall provide the Co-Agents with at least two Business Days’ prior notice in a form set forth as Exhibit
IX hereto of each Incremental Purchase (a “Purchase Notice”). Each Purchase Notice shall be subject to Section 4.2 hereof and, except as set forth below, shall be irrevocable and shall specify the requested
Purchase Price and each Group’s Percentage thereof (which shall not be less than $1,000,000 per Group), the proposed date of purchase and the requested Discount Rate and Tranche Period in the event the Committed Purchasers of any Group
participate in such Purchase. Following receipt of a Purchase Notice, each of the Co-Agents will determine whether its Conduit agrees to make its Group’s Percentage of such Purchase. If a Conduit declines to make its Percentage of the proposed
Purchase, the applicable Co-Agent shall promptly advise the Seller and the Servicer of such fact, and the Seller may thereupon cancel the Purchase Notice as to all Groups or, in the absence of such a cancellation, the Incremental Purchase of that
Group’s Percentage of the applicable Receivable Interest will be made by the Committed Purchasers in such Group. On the date of each Incremental Purchase, upon satisfaction of the applicable conditions precedent set forth in Article IV,
each Conduit or Committed Purchaser, as applicable, shall deposit to the Facility Account, in immediately available funds, no later than 12:00 noon (Chicago time), an amount equal to (i) in the case of a Conduit, its Group’s Percentage of the
aggregate Purchase Price of the Receivable Interests described in such Purchase Notice or (ii) in the case of a Committed Purchaser, such Committed Purchaser’s Pro Rata Share of its Group’s Percentage of the aggregate Purchase Price of
such Receivable Interests. 
  
 Section 1.3. Decreases. The
Seller shall provide the Co-Agents with prior written notice in conformity with the Required Notice Period of any reduction requested by the Seller of the aggregate Capital outstanding (a “Reduction Notice”). Such Reduction
Notice shall designate (i) the date (the “Proposed Reduction Date”) upon which any such reduction of Capital shall occur (which date shall give effect to the applicable Required Notice Period), and (ii) the aggregate amount
of the Groups’ Capital to be reduced (the “Aggregate Reduction”), which shall be applied ratably to the Receivable Interests of each Group in accordance with the amount of Capital owing to each and within each Group,
ratably in accordance with the amount of Capital, if any, owing to each member of such Group. Only one (1) Reduction Notice shall be outstanding at any time. 
  

 3 

 Section 1.4. Payment Requirements. All amounts to be paid or deposited by the Seller or the
Servicer pursuant to any provision of this Agreement shall be paid or deposited in accordance with the terms hereof no later than 12:00 noon (Chicago time) on the day when due in immediately available funds, and if not received before 12:00 noon
(Chicago time) shall be deemed to be received on the next succeeding Business Day. If such amounts are payable to the Administrative Agent or a member of the Falcon Group, they shall be paid for its account to the Falcon Agent, at 1 Bank One Plaza,
Chicago, Illinois 60670 until otherwise notified by the Falcon Agent. If such amounts are payable to a member of the Three Pillars Group, they shall be paid for its account to the Three Pillars Agent, at 303 Peachtree Street, Atlanta, GA 30308 until
otherwise notified by the Three Pillars Agent. If such amounts are payable to a member of the Blue Ridge Group, they shall be paid for its account to the Blue Ridge Agent, at 301 S. College Street, Charlotte, North Carolina 28288 until otherwise
notified by the Blue Ridge Agent. In the event the Seller shall fail to pay any amount when due hereunder, upon notice to the Seller, the Administrative Agent may debit the Facility Account for all such amounts due and payable hereunder. All
computations of Discount, per annum fees calculated as part of any CP Costs, per annum fees hereunder and under the Fee Letter shall be made on the basis of a year of 360 days for the actual number of days elapsed. If any amount hereunder shall be
payable on a day which is not a Business Day, such amount shall be payable on the next succeeding Business Day. 
  
 Section 1.5. Payments and Collections. 
  
 Section 1.5.1. Payments. Notwithstanding any limitation on recourse contained in this Agreement, the Seller shall immediately pay to each of the
Co-Agents when due, for the account of the relevant Purchaser or Purchasers in its Group, on a full recourse basis and without duplication of amounts already paid (i) such fees as are set forth in the applicable Fee Letter (which fees shall be
sufficient to pay all fees owing to the Committed Purchasers in such Co-Agent’s Group), (ii) all CP Costs owing to such Co-Agent’s Conduit, (iii) all amounts payable as Discount to the Committed Purchasers in such Group, (iv) such
Co-Agent’s Group’s Percentage of all amounts payable as Deemed Collections (which shall be applied to reduce such Group’s outstanding Capital hereunder in accordance with Sections 1.5.2 and 1.5.3 hereof), (v) such
Co-Agent’s Group’s Percentage of all amounts payable to reduce the aggregate Capital of the Receivables Interests, if required, pursuant to Section 1.5.6, (vi) such Co-Agent’s Group’s Percentage of all amounts payable
pursuant to Article VIII, if any, (vii) such Co-Agent’s Group’s Percentage of all Servicer costs and expenses in connection with servicing, administering and collecting the Receivables, and (viii) such Co-Agent’s Group’s
share of all Broken Funding Costs (collectively, the “Obligations”). Notwithstanding the foregoing, no provision of this Agreement or any Fee Letter shall require the payment or permit the collection of any amounts hereunder
in excess of the maximum permitted by applicable law. If at any time the Seller receives any Collections or is deemed to receive any Collections, the Seller shall promptly pay such Collections or Deemed Collections to the Servicer and, at all times
prior to such payment, such Collections shall be held in trust by the Seller for the exclusive benefit of the Purchasers and the Agents. 
  

 4 

 Section 1.5.2 Collections Prior to Amortization. Prior to the Amortization Date, any Collections
and/or Deemed Collections received by the Servicer (after the initial Purchase of a Receivable Interest hereunder) shall be set aside and held in trust by the Servicer for the payment of any accrued and unpaid Aggregate Unpaids or for a Reinvestment
as provided in this Section 1.5.2. If at any time any Collections are received by the Servicer prior to the Amortization Date, the Seller hereby requests, and the Purchasers in each Group hereby agree to make, simultaneously with such receipt, a
reinvestment (each, a “Reinvestment”) with each Group’s Percentage of each and every Collection received by the Servicer that is part of any Receivable Interest, such that after giving effect to such Reinvestment, the
amount of Capital of such Receivable Interest immediately after such receipt and corresponding Reinvestment shall be equal to the amount of Capital immediately prior to such receipt. On each Settlement Date prior to the occurrence of the
Amortization Date, the Servicer shall remit to each Co-Agent’s respective account specified in Section 1.4 such Co-Agent’s Group’s Percentage of the amounts set aside during the preceding Settlement Period that were not the
subject of a Reinvestment and apply such amounts (if not previously paid in accordance with Section 1.5.1) to reduce unpaid CP Costs, Discount and other Obligations owing to the members of such Group. If such CP Costs, Discount and other
Obligations shall be reduced to zero, each Group’s Percentage of any additional Collections received by the Servicer shall (i) if applicable, be remitted to the applicable Co-Agent’s account no later than 12:00 noon (Chicago time) to the
extent required to fund such Group’s Percentage of any Aggregate Reduction on such Settlement Date and (ii) thereafter be remitted from the Servicer to the Seller on such Settlement Date. 
  
 Section 1.5.3 Collections Following Amortization. On the Amortization
Date and on each day thereafter, the Servicer shall set aside and hold in trust, for the holder of each Receivable Interest, all Collections received on each such day. Such Collections shall be held in trust for each Group by the Servicer in
accordance with their respective Percentages. On and after the Amortization Date, the Servicer shall, at any time upon the request from time to time by (or pursuant to standing instructions from) the Administrative Agent (i) remit to each
Co-Agent’s account specified in Section 1.4, such Co-Agent’s Group’s Percentage of the amounts set aside pursuant to the preceding sentence, and (ii) apply such amounts to reduce such Group’s Capital associated with each
such Receivable Interest and any other Aggregate Unpaids owing to such Group. 
  
 Section 1.5.4. Application of Collections. If there shall be insufficient funds on deposit for the Servicer to distribute funds in payment in full of the aforementioned amounts pursuant to Section 1.5.2
or 1.5.3 (as applicable), the Servicer shall distribute funds: 
  
 first, to the Servicer in payment of the Servicer’s reasonable out-of-pocket costs and expenses in connection with servicing, administering and collecting the Receivables if the Seller or one of its Affiliates is not then acting
as the Servicer, 
  
 second, to the Administrative Agent,
in reimbursement of the Administrative Agent’s costs of collection and enforcement of this Agreement, 
  
 third, to each of the Co-Agents, ratably in accordance with its Group’s respective Percentage, in payment of accrued and unpaid Discount and
CP Costs when and as due (to be shared ratably amongst the Purchasers in each Group in accordance with their respective shares thereof), 
  

 5 

 fourth, to each of the Co-Agents, ratably in accordance with its Group’s respective
Percentage, in reduction (if applicable) of their Group’s Capital (to be shared ratably amongst the Purchasers in each Group in accordance with their respective shares thereof), 
  
 fifth, to each of the Co-Agents, ratably in accordance with its Group’s respective Percentage, in ratable
payment of all other unpaid Obligations owing to such Group, provided that to the extent such Obligations relate to a Group’s Percentage of the payment of Servicer costs and expenses when the Seller or one of its
Affiliates is acting as the Servicer, such costs and expenses will not be paid until after the payment in full of all other Obligations, and 
  
 sixth, after the Aggregate Unpaids have been indefeasibly reduced to zero, to the Seller. 
  
 Section 1.5.5. Payment Rescission. No payment of any of the Aggregate
Unpaids shall be considered paid or applied hereunder to the extent that, at any time, all or any portion of such payment or application is rescinded by application of law or judicial authority, or must otherwise be returned or refunded for any
reason. The Seller shall remain obligated for the amount of any payment or application so rescinded, returned or refunded, and shall promptly pay to each applicable Co-Agent (for application to the Person or Persons who suffered such rescission,
return or refund) the full amount thereof, plus, if such amount represented a refund of Capital, CP Costs or Discount, as applicable, with respect thereto from the date of any such rescission, return or refunding. 
  
 Section 1.5.6. Maximum of Purchasers’ Receivable Interests. The
Seller shall ensure that the aggregate Receivable Interests of the Purchasers shall at no time exceed 100%. If, on any day, the aggregate Receivable Interests of the Purchasers exceeds 100%, (a) the Seller shall determine the amount that must be
applied to the reduction of Capital of the Receivable Interests to eliminate such excess (the “Mandatory Reduction Amount”), and the Seller shall immediately pay to each of the Co-Agents, its Group’s respective
Percentage of the Mandatory Reduction Amount for distribution to the Purchasers in such Group ratably in accordance with their respective amounts of Capital outstanding. 
  
 Section 1.5.7. Repurchase Option. The Seller shall have the right, by prior written notice to the Agents given in not
less than the Required Notice Period, at any time to repurchase from the Purchasers all, but not less than all, of the then outstanding Receivable Interests. The aggregate purchase price in respect thereof shall be an amount equal to the Aggregate
Unpaids through the date of such repurchase, payable in immediately available funds. Such repurchase shall be without representation, warranty or recourse of any kind by, on the part of, or against any Purchaser or any Agent. 
  

 6 

 Section 1.6. Conduit Funding. 
  
 Section 1.6.1. CP Costs. The Seller shall pay CP Costs with respect to the Capital associated with each Receivable
Interest of a Conduit for each day that any Capital in respect of such Receivable Interest is outstanding; provided, however, that from and after the occurrence of a Servicer Default, the Seller shall pay Discount at the Default Rate
with respect to each such Receivable Interest. Each Receivable Interest funded by a Pool-Funded Conduit substantially with Pooled Commercial Paper will accrue CP Costs each day on a pro rata basis, based upon the percentage share the Capital in
respect of such Receivable Interest represents in relation to all assets held by such Pool-Funded Conduit and funded substantially with Pooled Commercial Paper. 
  

Section 1.6.2. CP Costs Payments. On each Settlement Date, the Seller shall pay to each Co-Agent (for the benefit of its Conduit) an aggregate
amount equal to all accrued and unpaid CP Costs in respect of the Capital associated with all Receivable Interests of such Conduit for the immediately preceding Accrual Period in accordance with Section 1.5. 
  
 Section 1.6.3. Calculation of CP Costs. On the 10th Business Day
immediately preceding each Settlement Date, each Conduit shall calculate the aggregate amount of CP Costs (or, as applicable, Discount at the Default Rate) owing to it for the applicable Accrual Period and shall notify the Seller of such aggregate
amount. 
  
 Section 1.7. Committed Purchaser Funding.

  
 Section 1.7.1. Committed Purchaser Funding. Each
Receivable Interest of the Committed Purchasers in a Group shall accrue Discount for each day during its Tranche Period at the LIBOR Rate, the Base Rate or, from and after the occurrence of a Servicer Default and during the continuance thereof, the
Default Rate in accordance with the terms and conditions hereof. Until the Seller gives notice to the applicable Co-Agent of another Discount Rate in accordance with Section 1.7.4, the initial Discount Rate for any Receivable Interest
transferred to the Committed Purchasers in a Group pursuant to the terms and conditions hereof, and the new Discount Rate for any Terminating Tranche, shall be the Base Rate and the applicable Tranche Period shall be a period of one Business Day
commencing on the day requested in the Purchase Notice or on the last day of a Terminating Tranche, as applicable. If the Committed Purchasers in a Group acquire by assignment from the applicable Conduit any Receivable Interest pursuant to a
Liquidity Agreement, the applicable Co-Agent shall promptly notify Seller of such fact and each Receivable Interest so assigned shall each be deemed to have a new Tranche Period commencing on the date of any such assignment. 
  
 Section 1.7.2. Discount Payments. On the Settlement Date for each
Receivable Interest of the Committed Purchasers in a Group, the Seller shall pay to the applicable Co-Agent (for the benefit of such Committed Purchasers) an aggregate amount equal to the accrued and unpaid Discount for the entire Tranche Period of
each such Receivable Interest in accordance with Section 1.5. 
  
 Section 1.7.3. Selection and Continuation of Tranche Periods. (a) With consultation from (and approval by) the applicable Co-Agent, the Seller shall from time to time 
  

 7 

 request Tranche Periods for the Receivable Interests of the Committed Purchasers in each Group, provided
that, if at any time the Committed Purchasers in a Group shall have a Receivable Interest, the Seller shall always request Tranche Periods such that at least one Tranche Period shall end on each date specified in clause (A) of the definition
of Settlement Date. 
  
 (b) The Seller or the applicable Co-Agent
may, effective on the last day of a Tranche Period (the “Terminating Tranche”) for any Receivable Interest, divide any such Receivable Interest into multiple Receivable Interests or combine any such Receivable Interest with
one or more other Receivable Interests which either have a Terminating Tranche ending on such day or are newly created on such day, provided that in no event may a Receivable Interest of a Conduit be combined with a Receivable
Interest of its Committed Purchasers. 
  
 Section 1.7.4.
Committed Purchaser Discount Rates. Prior to the occurrence and continuance of a Servicer Default, the Seller may select the LIBOR Rate or the Base Rate for each Receivable Interest of the Committed Purchasers in any Group. The Seller shall
by 11:00 a.m. (Chicago time): (i) at least three (3) Business Days prior to the expiration of any Terminating Tranche with respect to which the LIBOR Rate is being requested as a new Discount Rate and (ii) at least one (1) Business Day prior to the
expiration of any Terminating Tranche with respect to which the Base Rate is being requested as a new Discount Rate, give the applicable Co-Agent irrevocable notice of the new Discount Rate for the Receivable Interest associated with such
Terminating Tranche. From and after the occurrence of a Servicer Default and during the continuance thereof, all Receivable Interests shall accrue Discount at the Default Rate. 
  
 Section 1.7.5. Suspension of the LIBOR Rate. If any Committed Purchaser notifies its Co-Agent that it has determined
that funding its Pro Rata Share of the Receivable Interests of the Committed Purchasers in such Group at a LIBOR Rate would violate any applicable law, rule, regulation, or directive of any governmental or regulatory authority, whether or not having
the force of law, or that (i) deposits of a type and maturity appropriate to match fund its Receivable Interests at such LIBOR Rate are not available or (ii) such LIBOR Rate does not accurately reflect the cost of acquiring or maintaining a
Receivable Interest at such LIBOR Rate, then such Co-Agent shall suspend the availability of such LIBOR Rate from its Group and require the Seller to select the Base Rate for any Receivable Interest of the Committed Purchasers in its Group that has
been accruing Discount at such LIBOR Rate. 
  
 Section 1.7.6.
Calculation of Discount. On the 10th Business Day immediately preceding each Settlement Date for each Receivable Interest of the Committed Purchasers in a Group, the applicable Co-Agent shall calculate the aggregate amount of Discount for the
applicable Tranche Period and shall notify the Seller of such aggregate amount, if any. 
  
 Section 1.8. Grant of Security Interest. The Seller hereby grants to the Administrative Agent for the ratable benefit of the Groups a security interest in all of its interest, now owned or hereafter acquired,
in the Receivables, the Related Security, each Collection Account, the Collections and proceeds thereof to secure payment of the Aggregate Unpaids, including its indemnity obligations under Article VIII and all other obligations owed hereunder to
the Agents and the Purchasers. If the conveyance by the Seller of interests in Receivables hereunder shall be characterized as a secured loan and not a sale, it is the intention of the parties 
  

 8 

 hereto that this Agreement shall constitute a security agreement under applicable law, and that the Seller shall be
deemed to have granted to the Administrative Agent for the ratable benefit of the Groups a duly perfected security interest in all of the Seller’s right, title and interest in, to and under the Receivables, the Collections, each Collection
Account, all Related Security, all payments on or with respect to such Receivables, all other rights relating to and payments made in respect of the Receivables, and all proceeds of any thereof prior to all other liens on and security interests
therein. After a Servicer Default, the Administrative Agent, on behalf of the Groups, shall have, in addition to the rights and remedies it may have under this Agreement, all other rights and remedies provided to a secured creditor after default
under the UCC and other applicable law, which rights and remedies shall be cumulative. 
  
 Section 1.9. Servicer Fee. To the extent of available Collections in accordance with the priorities set forth in Sections 1.5.2 and 1.5.3, on the first Business Day of each month while any
Aggregate Unpaids are outstanding, the Servicer shall be paid a servicing and collection fee (the “Servicer Fee”) equal to 1.0% per annum (or such other arm’s length fee as may be mutually agreed upon from time to time
by the Servicer, the Originators and the Administrative Agent) on the average daily amount of Capital during the calendar month (or portion thereof) then most recently ended. The Servicer Fee shall be computed for actual days elapsed on the basis of
a year consisting of 365 days. 
  
 ARTICLE II 
 [RESERVED] 
  
 ARTICLE III 
 REPRESENTATIONS AND WARRANTIES 
  
 Section 3.1. Seller Representations and Warranties. The Seller hereby
represents and warrants to the Agents and the Purchasers that: 
  
 (a) Corporate Existence and Power. The Seller is a corporation duly organized, validly existing and in good standing under the laws of its state of incorporation, and has all corporate power and all governmental licenses,
authorizations, consents and approvals required to carry on its business in each jurisdiction in which its business is conducted, except for such licenses, authorization, consents and approvals the failure to obtain any of which would not have a
Material Adverse Effect. 
  
 (b) No Conflict. The
execution, delivery and performance by the Seller of this Agreement and each other Transaction Document, and the Seller’s use of the proceeds of purchases made hereunder, are within its corporate or banking association powers, have been duly
authorized by all necessary corporate or banking association action, do not breach or violate (i) its certificate or articles of incorporation or by-laws, (ii) any law, rule or regulation applicable to it, (iii) any restrictions under any agreement,
contract or instrument to which it is a party or by which it or any of its property is bound, or (iv) any order, writ, judgment, award, injunction or decree binding on or affecting it or its property, and do not result in the creation or imposition
of any Adverse Claim on assets of the Seller or its Subsidiaries (except created hereunder); and no 
  

 9 

 transaction contemplated hereby requires compliance with any bulk sales act or similar law. This Agreement and each other
Transaction Document has been duly authorized, executed and delivered by the Seller. 
  
 (c) Governmental Authorization. Other than the filing of the financing statements required hereunder, no authorization or approval or other action by, and no notice to or filing with, any governmental authority
or regulatory body is required for the due execution, delivery and performance by the Seller of the Transaction Documents. 
  
 (d) Binding Effect. The Transaction Documents constitute the legal, valid and binding obligations of the Seller enforceable against the Seller in
accordance with their respective terms, except as such enforcement may be limited by applicable bankruptcy, insolvency, reorganization or other similar laws relating to or limiting creditors’ rights generally. 
  
 (e) Accuracy of Information. All information heretofore furnished by
the Seller or any of its Affiliates to the Agents or the Purchasers for purposes of or in connection with this Agreement, any of the other Transaction Documents or any transaction contemplated hereby or thereby is, and all such information hereafter
furnished by the Seller or any of its Affiliates to the Purchasers will be, true and accurate in every material respect, on the date such information is stated or certified and does not and will not contain any material misstatement of fact or omit
to state a material fact or any fact necessary to make the statements contained therein not misleading. 
  
 (f) Use of Proceeds. No proceeds of any purchase hereunder will be used (i) for a purpose which violates, or would be inconsistent with, Regulation
T, U or X promulgated by the Board of Governors of the Federal Reserve System from time to time or (ii) to acquire any security in any transaction which is subject to Section 13 or 14 of the Securities Exchange Act of 1934, as amended. 

 
 (g) Title to Receivables. Each Receivable has been purchased by the
Seller from the applicable Originator in accordance with the terms of the Sale Agreement, and the Seller has thereby irrevocably obtained all legal and equitable title to, and has the legal right to sell and encumber, such Receivable, its
Collections and the Related Security. Each such Receivable has been transferred to the Seller free and clear of any Adverse Claim. Without limiting the foregoing, there has been duly filed all financing statements or other similar instruments or
documents necessary under the UCC of all appropriate jurisdictions (or any comparable law) to perfect the Seller’s ownership interest in such Receivable. 
  

(h) Good Title; Perfection. Immediately prior to each purchase hereunder, the Seller shall be the legal and beneficial owner of the Receivables
and Related Security with respect thereto, free and clear of any Adverse Claim, except as created by the Transaction Documents. This Agreement is effective to, and shall, upon each purchase hereunder, transfer to the relevant Purchaser or Purchasers
(and such Purchaser or Purchasers shall acquire from the Seller) a valid and perfected first priority undivided percentage ownership interest in each Receivable existing or hereafter arising and in the Related Security and Collections with respect
thereto, free and clear of any Adverse Claim, except as created by the Transactions Documents. 
  

 10 

 (i) Places of Business. The principal places of business and chief executive office of the Seller
and the offices where the Seller keeps all its Records are located at the address(es) listed on Exhibit II or such other locations notified to the Administrative Agent in accordance with Section 5.2(a) in jurisdictions where all action required by
Section 5.2(a) has been taken and completed. The Seller’s Federal Employer Identification Number and Organizational Identification Number are correctly set forth on Exhibit II. 
  
 (j) Collection Banks; etc. Except as otherwise notified to the Administrative Agent in accordance with Section
5.2(b): 
  
 (i) the Seller has instructed, or has
caused each Originator to instruct, all Obligors to pay all Collections directly to a segregated lock-box identified on Exhibit III hereto, 
  
 (ii) in the case of all proceeds remitted to any such lock-box which is now or hereafter established, such proceeds will be deposited
directly by the applicable Collection Bank into a concentration account or a depository account listed on Exhibit III, 
  
 (iii) the names and addresses of all Collection Banks, together with the account numbers of the Collection Accounts of the Seller at each
Collection Bank, are listed on Exhibit III, and 
  
 (iv) each lock-box and Collection Account to which Collections are remitted shall be subject to a Collection Account Agreement that is then in full force and effect. 
  
 In the case of lock-boxes and Collection Accounts identified on Exhibit III which were established by an Originator or by any Person other
than the Seller, exclusive dominion and control thereof has been transferred to the Seller. The Seller has not granted to any Person, other than the Administrative Agent as contemplated by this Agreement, dominion and control of any lock-box or
Collection Account, or the right to take dominion and control of any lock-box or Collection Account at a future time or upon the occurrence of a future event. 
  

(k) Material Adverse Effect. Since December 31, 2003, no event has occurred which would have a Material Adverse Effect. 
  
 (l) Names. In the past five years, the Seller has not used any
corporate names, trade names or assumed names other than the name in which it has executed this Agreement. 
  
 (m) Actions, Suits. There are no actions, suits or proceedings pending, or to the best of the Seller’s knowledge, threatened, against or
affecting the Seller or any Originator, or any of the respective properties of the Seller or any Originator, in or before any court, arbitrator or other body, which are reasonably likely to (i) adversely affect the collectibility of a material
portion of the Receivables, (ii) materially adversely affect the financial condition of the Seller or any Originator or (iii) materially adversely affect the ability of the Seller or any Originator to perform its obligations under the Transaction
Documents. Neither the Seller nor any Originator is in default with respect to any order of any court, arbitrator or governmental body. 
  

 11 

 (n) Credit and Collection Policies. With respect to each Receivable, each of the applicable
Originator, the Seller and the Servicer has complied in all material respects with the Credit and Collection Policy. 
  
 (o) Payments to the Applicable Originator. With respect to each Receivable transferred to the Seller, the Seller has given reasonably equivalent
value to the applicable Originator in consideration for such transfer of such Receivable and the Related Security with respect thereto under the Sale Agreement and such transfer was not made for or on account of an antecedent debt. No transfer by an
Originator of any Receivable is or may be voidable under any Section of the Bankruptcy Reform Act of 1978 (11 U.S.C. §§ 101 et seq.), as amended. 
  
 (p) Ownership of the Seller. Yellow Roadway Corporation owns, directly or indirectly, 100% of the issued and
outstanding capital stock of the Seller. Such capital stock is validly issued, fully paid and nonassessable and there are no options, warrants or other rights to acquire securities of the Seller. 
  
 (q) Not an Investment Company. The Seller is not an “investment
company” within the meaning of the Investment Company Act of 1940, as amended from time to time, or any successor statute. 
  
 (r) Purpose. The Seller has determined that, from a business viewpoint, the purchase of Receivables and related interests from the Originators
under the Sale Agreement, and the sale of Receivable Interests to the Purchasers and the other transactions contemplated herein, are in the best interest of the Seller. 
  
 (s) Net Receivables Balance. Both before and after giving effect to each Incremental Purchase and Reinvestment, the
Net Receivables Balance equals or exceeds the sum of (i) the product of the Net Receivables Balance multiplied by the Aggregate Reserve Percentage, and by (ii) the aggregate Capital outstanding. 
  
 Section 3.2. Committed Purchaser Representations and Warranties. Each
Committed Purchaser hereby represents and warrants to its applicable Co-Agent and Conduit that: 
  
 (a) Existence and Power. Such Committed Purchaser is a corporation or a banking association duly organized, validly existing and in good standing
under the laws of its jurisdiction of incorporation or organization, and has all corporate power to perform its obligations hereunder. 
  
 (b) No Conflict. The execution, delivery and performance by such Committed Purchaser of this Agreement are within its corporate powers, have been
duly authorized by all necessary corporate action, do not breach or violate (i) its certificate or articles of incorporation or association or by-laws, (ii) any law, rule or regulation applicable to it, (iii) any restrictions under any agreement,
contract or instrument to which it is a party or any of its property is bound, or (iv) any order, writ, judgment, award, injunction or decree binding on or affecting it or its property, and do not result in the creation or imposition of any Adverse
Claim on its assets. This Agreement has been duly authorized, executed and delivered by such Committed Purchaser. 
  

 12 

 (c) Governmental Authorization. No authorization or approval or other action by, and no notice to
or filing with, any governmental authority or regulatory body is required for the due execution, delivery and performance by such Committed Purchaser of this Agreement. 
  
 (d) Binding Effect. This Agreement constitutes the legal, valid and binding obligation of such Committed Purchaser
enforceable against such Committed Purchaser in accordance with its terms, except as such enforcement may be limited by applicable bankruptcy, insolvency, reorganization or other similar laws relating to or limiting creditors’ rights generally.

  
 ARTICLE IV 
 CONDITIONS OF PURCHASES 
  
 Section 4.1. Conditions Precedent to Initial Purchase. Effectiveness of the amendment and restatement of the Existing Agreement and the initial
Purchase of a Receivable Interest under this Agreement are subject to the conditions precedent that (a) the Administrative Agent or the Three Pillars Agent shall have received on or before the date of such Purchase those documents listed on Schedule
A hereto, and (b) the Three Pillars Agent shall have been paid all fees required to be paid on such date pursuant to the terms of the Three Pillars Fee Letter. 
  

Section 4.2. Conditions Precedent to All Purchases and Reinvestments. Each Purchase of a Receivable Interest and each Reinvestment shall be
subject to the further conditions precedent that: 
  
 (a) in the
case of each such purchase, the Servicer shall have delivered to the Agents on or prior to the date of such purchase, in form and substance satisfactory to the Agents, all Monthly Reports as and when due under Section 6.5; 
  
 (b) on the date of each such purchase or Reinvestment, the following
statements shall be true both before and after giving effect to such purchase or Reinvestment (and acceptance of the proceeds of such purchase or Reinvestment shall be deemed a representation and warranty by the Seller that such statements are then
true): 
  
 (i) the representations and warranties
set forth in Section 3.1 are correct on and as of the date of such purchase or Reinvestment as though made on and as of such date; provided, however, that the representation and warranty set forth in Section 3.1(k) need only be true
and correct as of the date of the initial purchase of Receivable Interests hereunder; 
  
 (ii) no event has occurred, or would result from such purchase or Reinvestment, that will constitute a Servicer Default, and no event has
occurred and is continuing, or would result from such purchase or Reinvestment, that would constitute a Potential Servicer Default; and 
  
 (iii) the Liquidity Termination Date shall not have occurred, the aggregate Capital of all Receivable Interests shall not exceed the
Purchase Limit and the aggregate Receivable Interests shall not exceed 100%; and 
  

 13 

 (c) the Administrative Agent shall have received such other approvals, opinions or documents as any Agent
may reasonably request. 
  
 ARTICLE V 
 COVENANTS 
  
 Section 5.1. Affirmative Covenants of Seller. Until the date on which the Aggregate Unpaids have been indefeasibly paid in full, the Seller hereby
covenants, individually and in its capacity as Servicer, that: 
  
 (a) Financial Reporting. The Seller will maintain a system of accounting established and administered in accordance with generally accepted accounting principles, and furnish to the Co-Agents: 
  
 (i) Annual Reporting. Within 90 days after the close
of each of its fiscal years, financial statements for such fiscal year certified in a manner reasonably acceptable to the Administrative Agent by the Chief Financial Officer of the Seller, together with the financial statements of Yellow Roadway
Corporation required under Section 4.1(a)(i) of the Sale Agreement. 
  
 (ii) Quarterly Reporting. Within 45 days after the close of the first three quarterly periods of each of its fiscal years, balance sheets as at the close of each such period and statements of income and
retained earnings and a statement of cash flows for the period from the beginning of such fiscal year to the end of such quarter, all certified by its Chief Financial Officer, together with the financial statements of Yellow Roadway Corporation
required under Section 4.1(a)(ii) of the Sale Agreement. 
  
 (iii) Compliance Certificate. Together with the financial statements required hereunder, a compliance certificate in substantially the form of Exhibit IV signed by the Seller’s Chief Financial Officer and
dated the date of such annual financial statement or such quarterly financial statement, as the case may be, together with the certificate of Yellow Roadway Corporation required under Section 4.1(a)(iii) of the Sale Agreement. 
  
 (iv) Copies of Notices, Etc. under Sale Agreement and
Other Transaction Documents. Forthwith upon its receipt of any notice, request for consent, financial statements of Yellow Roadway Corporation, certification, report or other communication under or in connection with any Transaction Document
from any Person other than one of the Agents or Purchasers, copies of the same. 
  
 (v) Change in Credit and Collection Policy. At least 30 days prior to the effectiveness of any material change in or amendment to
the Credit and Collection Policy, a copy of the Credit and Collection Policy then in effect and a notice indicating such change or amendment. 
  

 14 

 (vi) Other Information. Such other information (including non-financial
information) as any Agent or Purchaser may from time to time reasonably request. 
  
 (b) Notices. The Seller will notify the Agents in writing of any of the following immediately upon learning of the occurrence thereof, describing the same and, if applicable, the steps being taken with respect
thereto: 
  
 (i) Servicer Defaults or
Potential Servicer Defaults. The occurrence of each Servicer Default or each Potential Servicer Default, by a statement of the Chief Financial Officer of the Seller; 
  
 (ii) Judgment. The entry of any judgment or decree against the Seller; 
  
 (iii) Litigation. The institution of any litigation,
arbitration proceeding or governmental proceeding against the Seller or to which the Seller becomes party; 
  
 (iv) Termination Date under Sale Agreement. The declaration by any Originator of the “Termination Date” under the Sale
Agreement; 
  
 (v) Downgrade. Any
downgrade in the rating of any Indebtedness of the Seller, any Originator or Yellow Roadway Corporation by Standard & Poor’s Ratings Group or by Moody’s Investors Service, Inc., setting forth the Indebtedness affected and the nature of
such change; and 
  
 (vi) Labor Strike,
Walkout, Lockout or Slowdown. The commencement or threat of any labor strike, walkout, lockout or concerted labor slowdown against Yellow Roadway Corporation or any of its Affiliates which prevents, or could reasonably be likely to prevent,
pick-ups, shipments and/or deliveries by any Originator, and which could reasonably be expected to have a Material Adverse Effect (collectively, “Labor Actions”). 
  
 (c) Compliance with Laws. The Seller will comply in all material respects with all applicable laws, rules,
regulations, orders writs, judgments, injunctions, decrees or awards to which it may be subject, except where the failure to comply would not have a Material Adverse Effect. 
  
 (d) Audits. The Seller will furnish to the Agents from time to time such information with respect to it and the
Receivables as any Agent may reasonably request. The Seller shall, from time to time during regular business hours as requested by any Agent upon reasonable notice, permit the Agents, or their agents or representatives (and shall cause the
Originators to permit the Agents or their agents or representatives) (i) to examine and make copies of and abstracts from all Records in the possession or under the control of the Seller or an Originator relating to Receivables and the Related
Security, including, without limitation, the related Invoices, and (ii) to visit the offices and properties of the Seller and the Originators for the purpose of examining such materials described in clause (i) above, and to discuss matters relating
to the Seller’s or any Originator’s financial condition or the Receivables and the Related Security or the Seller’s performance hereunder, or any Originator’s performance under any of the 
  

 15 

 other Transaction Documents, or the Seller’s or any Originator’s performance under the Invoices with any of the
officers or employees of the Seller or any Originator having knowledge of such matters. 
  
 (e) Keeping and Marking of Records and Books. 
  
 (i) The Seller will, and will cause the Originators to, maintain and implement administrative and operating
procedures (including, without limitation, an ability to recreate records evidencing Receivables in the event of the destruction of the originals thereof), and keep and maintain all documents, books, records and other information reasonably
necessary or advisable for the collection of all Receivables (including, without limitation, records adequate to permit the immediate identification of each new Receivable and all Collections of and adjustments to each existing Receivable). The
Seller will, and will cause the Originators to, give the Agents notice of any material change in the administrative and operating procedures referred to in the previous sentence. 
  
 (ii) The Seller will, and will cause each of the Originators to, (a) on or prior to the date hereof, mark
its master data processing records and other books and records relating to the Receivables with a legend, reasonably acceptable to the Administrative Agent, describing the Receivable Interests and (b) upon the request of the Administrative Agent:
(A) mark each Invoice with a legend describing the Receivable Interests and (B) deliver to the Administrative Agent all Invoices (including, without limitation, all multiple originals of any such Invoice) relating to the Receivables. 
  
 (f) Compliance with Invoices and Credit and Collection Policy. The
Seller will, and will cause the Originators to, timely and fully (i) perform and comply with all provisions, covenants and other promises required to be observed by it under the Invoices (other than bills of lading) related to the Receivables, and
(ii) comply in all material respects with any bills of lading included in the Invoices and with the Credit and Collection Policy. The Seller will, and will cause the Originators to, pay when due any taxes payable in connection with the Receivables.

  
 (g) Purchase of Receivables from an Originator. With
respect to each Receivable purchased under the Sale Agreement, the Seller shall (or shall cause the applicable Originator to) take all actions necessary to vest legal and equitable title to such Receivable and the Related Security irrevocably in the
Seller, including, without limitation, the filing of all financing statements or other similar instruments or documents necessary under the UCC of all appropriate jurisdictions (or any comparable law) to perfect the Seller’s interest in such
Receivable and such other action to perfect, protect or more fully evidence the interest of the Seller as the Administrative Agent may reasonably request. 
  
 (h) Ownership Interest. The Seller shall take all necessary action to establish and maintain a valid and perfected first priority undivided
percentage ownership interest in the Receivables and the Related Security and Collections with respect thereto, to the full extent contemplated herein, in favor of the Agents and the Purchasers, including, without limitation, taking such action to
perfect, protect or more fully evidence the interest of the Administrative Agent on behalf of the Groups hereunder as any Agent may reasonably request. 
  

 16 

 (i) Payment to the Applicable Originator. With respect to each Receivable purchased by the Seller
from an Originator, such sale shall be effected under, and in strict compliance with the terms of, the Sale Agreement, including, without limitation, the terms relating to the amount and timing of payments to be made to the applicable Originator in
respect of the purchase price for such Receivable. 
  
 (j)
Performance and Enforcement of Sale Agreement. The Seller shall timely perform the obligations required to be performed by the Seller, and shall vigorously enforce the rights and remedies accorded to the Seller, under the Sale Agreement. The
Seller shall take all actions to perfect and enforce its rights and interests (and the rights and interests of the Administrative Agent, on behalf of the Groups, as assignee of the Seller) under the Sale Agreement as the Administrative Agent may
from time to time reasonably request, including, without limitation, making claims to which it may be entitled under any indemnity, reimbursement or similar provision contained in the Sale Agreement. 
  
 (k) Purchasers’ Reliance. The Seller acknowledges that the
Purchasers are entering into the transactions contemplated by this Agreement in reliance upon the Seller’s identity as a legal entity that is separate from each of the Originators and Yellow Roadway Corporation. Therefore, from and after the
date of execution and delivery of this Agreement, the Seller shall take all reasonable steps including, without limitation, all steps that any Agent or Purchaser may from time to time reasonably request to maintain the Seller’s identity as a
separate legal entity and to make it manifest to third parties that the Seller is an entity with assets and liabilities distinct from those of the Originators and any Affiliates thereof and not just a division of one of the Originators. Without
limiting the generality of the foregoing and in addition to the other covenants set forth herein, the Seller shall: 
  
 (i) conduct its own business in its own name and require that all full-time employees of the Seller, if any, identify themselves as such
and not as employees of an Originator (including, without limitation, by means of providing appropriate employees with business or identification cards identifying such employees as the Seller’s employees); 
  
 (ii) compensate all employees, consultants and agents
directly, from the Seller’s bank accounts, for services provided to the Seller by such employees, consultants and agents and, to the extent any employee, consultant or agent of the Seller is also an employee, consultant or agent of an
Originator, allocate the compensation of such employee, consultant or agent between the Seller and such Originator on a basis which reflects the services rendered to the Seller and such Originator; 
  
 (iii) clearly identify its offices (by signage or otherwise)
as its offices and, if such office is located in the offices of an Originator, the Seller shall lease such office at a fair market rent; 
  

 17 

 (iv) have a separate telephone number, which will be answered only in its name and
separate stationery, invoices and checks in its own name; 
  
 (v) conduct all transactions with each Originator (including, without limitation, any delegation of its obligations hereunder as Servicer) strictly on an arm’s-length basis, allocate all overhead expenses
(including, without limitation, telephone and other utility charges) for items shared between the Seller and such Originator on the basis of actual use to the extent practicable and, to the extent such allocation is not practicable, on a basis
reasonably related to actual use; 
  
 (vi) at all
times have at least two members of its Board of Directors (each, an “Independent Director”) who are not at such time, and have not have been at any time during the preceding five years (A) a director, officer, employee or
affiliate of Yellow Roadway Corporation or any of its subsidiaries or affiliates, or (B) the beneficial owner at the time of such individual’s appointment as an Independent Director or at any time thereafter while serving as an Independent
Director, of five percent (5%) of the outstanding common shares of Yellow Roadway Corporation having general voting rights; provided, however, that a director who otherwise meets the description of Independent Director as set forth
herein shall not be disqualified from serving as an Independent Director of the Seller if he or she is also a director of another corporation that is an Affiliate of Yellow Roadway Corporation with a certificate of incorporation substantially
similar to the certificate of incorporation of the Seller; 
  
 (vii) observe all corporate formalities as a distinct entity, and ensure that all corporate actions relating to (A) the selection, maintenance or replacement of the Independent Directors, (B) the dissolution or
liquidation of the Seller or (C) the initiation of participation in, acquiescence in or consent to any bankruptcy, insolvency, reorganization or similar proceeding involving the Seller, are duly authorized by unanimous vote of its Board of Directors
(including the Independent Directors); 
  
 (viii)
maintain the Seller’s books and records separate from those of the Originators and otherwise readily identifiable as its own assets rather than assets of an Originator; 
  
 (ix) prepare its financial statements separately from those of the Originators and insure that any
consolidated financial statements of the Originators or any Affiliate thereof that include the Seller and which are filed with the Securities and Exchange Commission or any other governmental agency have notes clearly stating that the Seller is a
separate corporate entity and that its assets will be available first and foremost to satisfy the claims of the creditors of the Seller; 
  
 (x) except as herein specifically otherwise provided, not commingle funds or other assets of the Seller with those of the Originators and
not maintain bank accounts or other depository accounts to which any Originator is an account party, into which any Originator makes deposits or from which any Originator has the power to make withdrawals; 
  

 18 

 (xi) not permit any Originator to pay any of the Seller’s operating expenses (except
pursuant to allocation arrangements that comply with the requirements of this Section 5.1(k)); 
  
 (xii) not permit the Seller to be named as an insured on the insurance policy covering the property of any Originator or enter into an
agreement with the holder of such policy whereby in the event of a loss in connection with such property, proceeds are paid to the Seller; and 
  
 (xiii) take such other actions as are necessary on its part to ensure that the facts and assumptions set forth in the opinion issued by
Fulbright & Jaworski L.L.P., as counsel for the Seller, in connection with the closing or initial purchase under this Agreement and relating to substantive consolidation issues, and in the certificates accompanying such opinion, remain true and
correct in all material respects at all times. 
  
 (l)
Collections. The Seller shall instruct all Obligors, or cause the Originators to instruct, all Obligors to pay all Collections directly to a segregated lock-box or other Collection Account listed on Exhibit III, each of which is subject to a
Collection Account Agreement. In the case of payments remitted to any such lock-box, the Seller shall cause all proceeds from such lock-box to be deposited directly by a Collection Bank into a Collection Account listed on Exhibit III, which is
subject to a Collection Account Agreement. The Seller shall maintain exclusive dominion and control (subject to the terms of this Agreement) to each such Collection Account. In the case of any Collections received by the Seller or any Originator,
the Seller shall remit (or shall cause such Originator to remit) such Collections to a Collection Account not later than the Business Day immediately following the date of receipt of such Collections, and, at all times prior to such remittance, the
Seller shall itself hold (or, if applicable, shall cause such Originator to hold) such Collections in trust, for the exclusive benefit of the Purchasers and the Agents. In the case of any remittances received by the Seller in any such Collection
Account that shall have been identified, to the satisfaction of the Servicer, to not constitute Collections or other proceeds of the Receivables or the Related Security, the Seller shall promptly remit such items to the Person identified to it as
being the owner of such remittances. From and after the date the Administrative Agent (at the direction of any Co-Agent) delivers to any of the Collection Banks a Collection Notice pursuant to Section 6.3, any Agent may request that the Seller, and
the Seller thereupon promptly shall and shall direct the Originators to, direct all Obligors on Receivables to remit all payments thereon to a new depositary account (the “New Concentration Account”) specified by the
Administrative Agent and, at all times thereafter the Seller shall not deposit or otherwise credit, and shall not permit any Originator or any other Person to deposit or otherwise credit to the New Concentration Account any cash or payment item
other than Collections. Alternatively, the Administrative Agent may request that the Seller, and the Seller thereupon promptly shall, direct all Persons then making remittances to any Collection Account listed on Exhibit III which remittances are
not payments on Receivables to deliver such remittances to a location other than an account listed on Exhibit III. 
  

 19 

 (m) Minimum Net Worth. The Seller shall at all times maintain total assets which exceed its total
liabilities by not less than 3% of the Purchase Limit at such time. 
  
 Section 5.2. Negative Covenants of Seller. Until the date on which the Aggregate Unpaids have been indefeasibly paid in full, the Seller hereby covenants, individually and in its capacity as Servicer, that: 
  
 (a) Name Change, Offices, Records and Books of Accounts. The Seller
will not change its name, identity or corporate structure (within the meaning of Section 9-402(7) of any applicable enactment of the UCC) or relocate its chief executive office or any office where Records are kept unless it shall have: (i) given the
Administrative Agent at least 45 days prior notice thereof and (ii) delivered to the Administrative Agent all financing statements, instruments and other documents requested by the Administrative Agent in connection with such change or relocation.

  
 (b) Change in Payment Instructions to Obligors. The
Seller will not add or terminate any bank as a Collection Bank from those listed in Exhibit III, or make any change in its instructions to Obligors regarding payments to be made to the Seller or payments to be made to any lock-box, Collection
Account or Collection Bank, unless the Administrative Agent shall have received, at least fifteen (15) Business Days before the proposed effective date therefor: 
  
 (i) written notice of such addition, termination or change, and 
  
 (ii) with respect to the addition of a lock-box, Collection
Account or Collection Bank, an executed account agreement and an executed Collection Account Agreement from such Collection Bank relating thereto; 
  
 provided, however, that the Seller may make changes in instructions to Obligors regarding payments if such new instructions require such Obligor to make
payments to another existing lock-box or Collection Account that is subject to a Collection Account Agreement then in effect. 
  
 (c) Modifications to Invoices and Credit and Collection Policy. The Seller will not make any change to the Credit and Collection Policy which would
be reasonably likely to adversely affect the collectibility of any material portion of the Receivables or decrease the credit quality of any newly created Receivables. Except as provided in Section 6.2(c), the Seller, acting as Servicer or
otherwise, will not extend, amend or otherwise modify the terms of any Receivable or any Invoice related thereto other than in accordance with the Credit and Collection Policy. 
  
 (d) Sales, Liens, Etc. The Seller shall not sell, assign (by operation of law or otherwise) or otherwise dispose of,
or grant any option with respect to, or create or suffer to exist any Adverse Claim upon (including, without limitation, the filing of any financing statement) or with respect to any Receivable, Related Security or Collections, or upon or with
respect to any Invoice under which any Receivable arises, or any lock-box or Collection Account or assign any right to receive income in respect thereof (other than, in each case, the creation of the interests therein in favor of the Administrative
Agent and the Purchasers provided for herein), and the Seller shall defend the right, title and interest of the Agents and the Purchasers in, to and under any of the foregoing property, against all claims of third parties claiming through or under
the Seller or any Originator. 
  

 20 

 (e) Nature of Business; Other Agreements; Other Indebtedness. The Seller shall not engage in any
business or activity of any kind or enter into any transaction or indenture, mortgage, instrument, agreement, contract, lease or other undertaking other than the transactions contemplated and authorized by this Agreement and the Sale Agreement.
Without limiting the generality of the foregoing, the Seller shall not create, incur, guarantee, assume or suffer to exist any indebtedness or other liabilities, whether direct or contingent, other than: 
  
 (i) as a result of the endorsement of negotiable instruments
for deposit or collection or similar transactions in the ordinary course of business, 
  
 (ii) the incurrence of obligations under this Agreement, 
  
 (iii) the incurrence of obligations, as expressly contemplated in the Sale Agreement, to make payment to the
applicable Originator thereunder for the purchase of Receivables from such Originator under the Sale Agreement, and 
  
 (iv) the incurrence of operating expenses in the ordinary course of business of the type otherwise contemplated in Section 5.1(k) of this
Agreement. 
  
 In the event the Seller shall at any time borrow a “Revolving
Loan” under the Sale Agreement, the obligations of the Seller in connection therewith shall be subordinated to the obligations of the Seller to the Purchasers and the Agents under this Agreement, on such terms as shall be satisfactory to the
Administrative Agent. 
  
 (f) Amendments to Sale Agreement.
The Seller shall not, without the prior written consent of the Agents: 
  
 (i) cancel or terminate the Sale Agreement, 
  
 (ii) give any consent to or waiver of (or take any action having the same effect on) any provision of the Sale Agreement, 
  
 (iii) waive any default, action, omission or breach under the Sale Agreement, or otherwise grant any indulgence thereunder, or 

 
 (iv) amend, supplement or otherwise modify any of the
terms of the Sale Agreement. 
  
 (g) Amendments to Corporate
Documents. The Seller shall not amend its Certificate of Incorporation or By-Laws in any respect that would impair its ability to comply with the terms or provisions of any of the Transaction Documents, including, without limitation, Section
5.1(k) of this Agreement. 
  
 (h) Merger. The Seller shall
not merge or consolidate with or into, or convey, transfer, lease or otherwise dispose of (whether in one transaction or in a series of transactions, and except as otherwise contemplated herein) all or substantially all of its assets (whether now
owned or hereafter acquired) to, or acquire all or substantially all of the assets of, any Person. 
  

 21 

 (i) Restricted Junior Payments. The Seller shall not make any Restricted Junior Payment if a
Servicer Default or Potential Servicer Default exists or would result therefrom. 
  
 ARTICLE VI 
 ADMINISTRATION AND COLLECTION 
  
 Section 6.1. Designation of Servicer. 
  
 (a) The servicing, administration and collection of the Receivables shall be
conducted by such Person (the “Servicer”) so designated from time to time in accordance with this Section 6.1. The Seller is hereby designated as, and hereby agrees to perform the duties and obligations of, the Servicer
pursuant to the terms of this Agreement. The Co-Agents may at any time designate as Servicer any Person to succeed the Seller or any successor Servicer. 
  
 (b) The Seller is permitted to delegate, and the Seller hereby advises the Purchasers and the Agents that it has delegated, to each of the Originators, as
subservicers of the Servicer, certain of its duties and responsibilities as Servicer hereunder in respect of the Receivables transferred by such Originator to the Seller. Notwithstanding the foregoing, (i) the Seller shall be and remain primarily
liable to the Agents and the Purchasers for the full and prompt performance of all duties and responsibilities of the Servicer hereunder and (ii) the Agents and the Purchasers shall be entitled to deal exclusively with the Seller in matters relating
to the discharge by the Servicer of its duties and responsibilities hereunder, and the Agents and the Purchasers shall not be required to give notice, demand or other communication to any Person other than the Seller in order for communication to
the Servicer and its subservicer or other delegate in respect thereof to be accomplished. The Seller, at all times that it is the Servicer, shall be responsible for providing its subservicer or other delegate with any notice given under this
Agreement. 
  
 (c) Without the prior written consent of both of
the Co-Agents, (i) the Seller shall not be permitted to delegate any of its duties or responsibilities as Servicer to any Person other than each Originator, and then such delegation shall be limited to the activities of Servicer hereunder as the
same may relate to the Receivables originated by such Originator, and (ii) no Originator shall be permitted to further delegate to any other Person any of the duties or responsibilities of the Servicer delegated to it by the Seller. If at any time
the Co-Agents shall designate as Servicer any Person other than the Seller, all duties and responsibilities theretofore delegated by the Seller to the Originators may, at the discretion of the Co-Agents, be terminated forthwith on notice given by
the Co-Agents to the Seller. 
  
 Section 6.2. Duties of
Servicer. 
  
 (a) The Servicer shall take or cause to be
taken all such actions as may be necessary or advisable to collect each Receivable from time to time, all in accordance with applicable laws, rules and regulations, with reasonable care and diligence, and in accordance with the applicable Invoices
and the Credit and Collection Policy. 
  

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 (b) The Servicer shall administer the Collections in accordance with the procedures described herein and
in Article I. The Servicer shall set aside and hold in trust for the account of the Seller and the Purchasers their respective shares of the Collections of Receivables in accordance with Sections 1.5.2 and 1.5.3. The Servicer shall upon the request
of the Administrative Agent after the occurrence of the Amortization Date, segregate, in a manner acceptable to the Administrative Agent, all cash, checks and other instruments received by it from time to time constituting Collections from the
general funds of the Servicer or the Seller prior to the remittance thereof in accordance with Section 1.5. If the Servicer shall be required to segregate Collections pursuant to the preceding sentence, the Servicer shall segregate and deposit with
a bank designated by the Administrative Agent such allocable share of Collections of Receivables set aside for the Purchasers on the first Business Day following receipt by the Servicer of such Collections, duly endorsed or with duly executed
instruments of transfer. 
  
 (c) The Servicer, may, in accordance
with the Credit and Collection Policy, extend the maturity of any Receivable or adjust the Outstanding Balance of any Receivable as the Servicer may determine to be appropriate to maximize Collections thereof; provided, however, that
such extension or adjustment shall not alter the status of such Receivable as a Delinquent Receivable or Defaulted Receivable or limit the rights of the Agents or the Purchasers under this Agreement. Notwithstanding anything to the contrary
contained herein, from and after the occurrence of a Servicer Default, the Co-Agents shall have the absolute and unlimited right to direct the Servicer to commence or settle any legal action with respect to any Receivable or to foreclose upon or
repossess any Related Security. 
  
 (d) The Servicer shall hold in
trust for the Seller and the Purchasers, in accordance with their respective interests in the Receivables, all Records that evidence or relate to the Receivables, the related Invoices and Related Security or that are otherwise necessary or desirable
to collect the Receivables and shall, as soon as practicable upon demand of the Administrative Agent, deliver or make available to the Administrative Agent all such Records, (x) if such demand is made at any time prior to the replacement of the
Seller as Servicer hereunder, at the chief executive office of each Originator and (y) if such demand is made at any time after the replacement of the Seller as Servicer hereunder, to such location as the Administrative Agent may designate in
writing. The Servicer shall, as soon as practicable following receipt thereof, turn over to the Seller (i) that portion of Collections of Receivables representing the Seller’s undivided fractional ownership interest therein, less, in the event
the Seller is not the Servicer, all reasonable out-of-pocket costs and expenses of the Servicer of servicing, administering and collecting the Receivables, and (ii) any cash collections or other cash proceeds received with respect to indebtedness
not constituting Receivables. The Servicer shall, from time to time at the request of any Purchaser, furnish to the Purchasers (promptly after any such request) a calculation of the amounts set aside for the Purchasers pursuant to Section 1.5.

  
 (e) Any payment by an Obligor in respect of any indebtedness
owed by it to the Seller shall, except as otherwise specified by such Obligor or otherwise required by contract or law and unless otherwise instructed by the Administrative Agent, be applied as a Collection of any Receivable of such Obligor
(starting with the oldest such Receivable) to the extent of any amounts then due and payable thereunder before being applied to any other receivable or other obligation of such Obligor. 
  

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 Section 6.3. Collection Notices. The Administrative Agent is authorized at any time to date and to
deliver to the Collection Banks a Collection Notice under any Collection Account Agreement. The Seller hereby transfers to the Administrative Agent for the benefit of the Groups, effective when the Administrative Agent (at the direction of any
Co-Agent) delivers such notice, the exclusive ownership and control of the Collection Accounts. In case any authorized signatory of the Seller whose signature appears on a Collection Account Agreement shall cease to have such authority before the
delivery of such notice, such Collection Notice shall nevertheless be valid as if such authority had remained in force. The Seller hereby authorizes the Administrative Agent, and agrees that the Administrative Agent shall be entitled to (i) endorse
the Seller’s name on checks and other instruments representing Collections, (ii) enforce the Receivables, the related Invoices and the Related Security and (iii) take such action as shall be necessary or desirable to cause all cash, checks and
other instruments constituting Collections of Receivables to come into the possession of the Administrative Agent rather than the Seller. 
  
 Section 6.4. Responsibilities of the Seller. Anything herein to the contrary notwithstanding, the exercise by the Agents and the Purchasers of
their rights hereunder shall not release the Servicer or the Seller from any of their duties or obligations with respect to any Receivables or under the related Invoices. The Purchasers shall have no obligation or liability with respect to any
Receivables or related Invoices, nor shall any of them be obligated to perform the obligations of the Seller. 
  
 Section 6.5. Reports. On the 15th day of each month (or, if such date is not a Business Day, the next following Business Day), and at such other
times as any Agent shall request, the Servicer shall prepare and forward to the Agents a Monthly Report, provided that during an Asynchronous Accounting Period, the Monthly Report to be delivered during the months of September and October
shall be due on the 22nd day of such months (or, if such date is not a Business Day, the next following Business Day) instead of the 15th day. Promptly following any request therefor by any Agent, the Seller shall prepare and provide to the Agents a
listing by Obligor of all Receivables together with an aging of such Receivables. 
  
 ARTICLE VII 
 SERVICER DEFAULTS 
  
 Section 7.1. Servicer Defaults. The occurrence of any one or more of the following events shall constitute a Servicer
Default: 
  
 (a) The Servicer or the Seller shall fail (i) to
make when due any payment or deposit required hereunder, or (ii) to perform or observe any term, covenant or agreement hereunder (other than as referred to in clause (i) of this paragraph (a)) and such failure shall remain unremedied for five (5)
Business Days following the earlier to occur of (A) written notice thereof by any Agent to the Servicer or the Seller, as applicable, or (B) the Servicer’s or the Seller’s actual knowledge of such failure. 
  
 (b) Any representation, warranty, certification or statement made by the
Seller, the Servicer or an Originator in this Agreement, any other Transaction Document or in any other document delivered pursuant hereto shall prove to have been incorrect in any material respect when made or deemed made. 
  

 24 

 (c) (i) The Seller or the Servicer shall generally not pay its debts as such debts become due or shall
admit in writing its inability to pay its debts generally or shall make a general assignment for the benefit of creditors; or any proceeding shall be instituted by or against the Seller or the Servicer seeking to adjudicate it bankrupt or insolvent,
or seeking liquidation, winding up, reorganization, arrangement, adjustment, protection, relief or composition of it or its debts under any law relating to bankruptcy, insolvency or reorganization or relief of debtors, or seeking the entry of an
order for relief or the appointment of a receiver, trustee or other similar official for it or any substantial part of its property, or (ii) the Seller or any Servicer shall take any corporate action to authorize any of the actions set forth in
clause (i) above in this subsection (c). 
  
 (d)
As at the end of any Calculation Period: 
  
 (i)
the average of the Delinquency Ratios for each of the three consecutive Calculation Periods then most recently ended shall exceed 2.50%; 
  
 (ii) the average of the Dilution Ratios for each of the three consecutive Calculation Periods then most recently ended shall exceed 8.25%;
or 
  
 (iii) the average of the Default Ratios
for each of the three consecutive Calculation Periods then most recently ended shall exceed 2.50%. 
  
 (e) Any Originator (i) shall fail to perform or observe any term, covenant or agreement contained in any other Transaction Document, or (ii) shall for any
reason cease to transfer, or cease to have the legal capacity or otherwise be incapable of transferring, Receivables to the Seller, as purchaser under the Sale Agreement, or any “Event of Default” or “Potential Event of Default”
shall occur under the Sale Agreement. 
  
 (f) The aggregate
Receivable Interests hereunder shall at any time exceed 100%. 
  
 (g) A Change of Control shall occur. 
  
 (h) A
“Default” or an “Event of Default” under and as defined in that certain Credit Agreement dated as of September 10, 2004 among Yellow Roadway Corporation, certain of its Canadian and United Kingdom Affiliates, the lenders party
thereto, JPMorgan Chase Bank, Toronto Branch, as Canadian Agent, J.P. Morgan Europe Limited, as “UK Agent,” and JPMorgan Chase Bank, as “Administrative Agent” thereunder, as amended, modified or replaced from time to time (the
“Yellow Roadway Credit Agreement”), shall occur and be continuing; provided, however, that any Servicer Default arising under this Section 7.1(h) shall be deemed automatically waived if and to the extent that
any “Default” or “Event of Default” under the Yellow Roadway Credit Agreement is waived in accordance with the terms thereof. 
  
 (i) Any Level II Trigger Event shall occur. 
  

 25 

 ARTICLE VIII 
 INDEMNIFICATION 
  
 Section
8.1. Indemnities by the Seller. Without limiting any other rights which any Agent or any Purchaser may have hereunder or under applicable law, the Seller hereby agrees to indemnify each of the Agents and the Purchasers and their respective
officers, directors, agents and employees (each, an “Indemnified Party”) from and against any and all damages, losses, claims, taxes, liabilities, costs, expenses and for all other amounts payable, including reasonable
attorneys’ fees (which attorneys may be employees of an Agent or such Purchaser) and disbursements (all of the foregoing being collectively referred to as “Indemnified Amounts”) awarded against or incurred by any of them
arising out of or as a result of this Agreement or the acquisition, either directly or indirectly, by a Purchaser of an interest in the Receivables, excluding, however: 
  
 (a) Indemnified Amounts to the extent final judgment of a court of competent jurisdiction holds such
Indemnified Amounts resulted from gross negligence or willful misconduct on the part of the Indemnified Party seeking indemnification; 
  
 (b) Indemnified Amounts to the extent the same includes losses in respect of Receivables which are uncollectible on account of the
insolvency, bankruptcy or lack of creditworthiness of the related Obligor; or 
  
 (c) taxes imposed by the jurisdiction in which such Indemnified Party’s principal executive office is located, on or measured by the overall net income of such Indemnified Party to the extent that the computation
of such taxes is consistent with the Intended Characterization; 
  
 provided, however, that nothing contained in this sentence shall limit the liability of the Seller or the Servicer or limit the recourse of the Purchasers to the Seller or Servicer for amounts otherwise specifically provided
to be paid by the Seller or the Servicer under the terms of this Agreement. Without limiting the generality of the foregoing indemnification, the Seller shall indemnify the Agents and the Purchasers for Indemnified Amounts (including, without
limitation, losses in respect of uncollectible receivables, regardless of whether reimbursement therefor would constitute recourse to the Seller or the Servicer) relating to or resulting from: 
  
 (i) any representation or warranty made by the Seller, an
Originator or the Servicer (or any officers of the Seller, an Originator or the Servicer) under or in connection with this Agreement, any other Transaction Document, any Monthly Report or any other information or report delivered by the Seller, an
Originator or the Servicer pursuant hereto or thereto, which shall have been false or incorrect when made or deemed made; 
  
 (ii) the failure by the Seller, an Originator or the Servicer to comply with any applicable law, rule or regulation with respect to any
Receivable or Invoice related thereto, or the nonconformity of any Receivable or Invoice included therein with any such applicable law, rule or regulation; 
  

 26 

 (iii) any failure of the Seller, an Originator or the Servicer to perform its duties or
obligations in accordance with the provisions of this Agreement or any other Transaction Document; 
  
 (iv) any products liability or similar claim arising out of or in connection with merchandise, insurance or services which are the subject
of any Invoice; 
  
 (v) any dispute, claim,
offset or defense (other than discharge in bankruptcy of the Obligor) of any Obligor to the payment of any Receivable (including, without limitation, a defense based on such Receivable or the related Invoice not being a legal, valid and binding
obligation of such Obligor enforceable against it in accordance with its terms), or any other claim resulting from the sale of the merchandise or service related to such Receivable or the furnishing or failure to furnish such merchandise or
services; 
  
 (vi) the commingling of Collections
of Receivables at any time with other funds; 
  
 (vii) any investigation, litigation or proceeding related to or arising from this Agreement or any other Transaction Document, the transactions contemplated hereby or thereby, the use of the proceeds of a purchase, the ownership of the
Receivable Interests or any other investigation, litigation or proceeding relating to the Seller or an Originator in which any Indemnified Party becomes involved as a result of any of the transactions contemplated hereby or thereby; 
  
 (viii) any inability to litigate any claim against any
Obligor in respect of any Receivable as a result of such Obligor being immune from civil and commercial law and suit on the grounds of sovereignty or otherwise from any legal action, suit or proceeding; 
  
 (ix) a Servicer Default described in Section 7.1(c);

  
 (x) the failure to vest and maintain vested
in the Administrative Agent, for the benefit of the Purchasers, or to transfer to the Administrative Agent for the benefit of the Purchasers, legal and equitable title to, and ownership of, a first priority perfected undivided percentage ownership
(to the extent of the Receivable Interests contemplated hereunder) in the Receivables, the Related Security and the Collections, free and clear of any Adverse Claim; or 
  
 (xi) any failure of the Seller to give reasonably equivalent value to the applicable Originator under the
Sale Agreement in consideration of the transfer by such Originator of any Receivable, or any attempt by any Person to void any such transfer under statutory provisions or common law or equitable action, including, without limitation, any provision
of the Bankruptcy Code. 
  

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 Section 8.2. Increased Cost and Reduced Return. 
  
 (a) If after the date hereof, any Funding Source shall be charged any fee,
expense or increased cost on account of the adoption of any applicable law, rule or regulation (including any applicable law, rule or regulation regarding capital adequacy), any accounting principles or any change therein in any of the foregoing, or
any change in the interpretation or administration thereof by the Financial Accounting Standards Board (“FASB”), any governmental authority, any central bank or any comparable agency charged with the interpretation or
administration thereof, or compliance with any request or directive (whether or not having the force of law) of any such authority or agency (a “Regulatory Change”): (i) which subjects any Funding Source to any charge or
withholding on or with respect to any Funding Agreement or a Funding Source’s obligations under a Funding Agreement, or on or with respect to the Receivables, or changes the basis of taxation of payments to any Funding Source of any amounts
payable under any Funding Agreement (except for changes in the rate of tax on the overall net income of a Funding Source) or (ii) which imposes, modifies or deems applicable any reserve, assessment, insurance charge, special deposit or similar
requirement against assets of, deposits with or for the account of a Funding Source, or credit extended by a Funding Source pursuant to a Funding Agreement or (iii) which imposes any other condition the result of which is to increase the cost to a
Funding Source of performing its obligations under a Funding Agreement, or to reduce the rate of return on a Funding Source’s capital as a consequence of its obligations under a Funding Agreement, or to reduce the amount of any sum received or
receivable by a Funding Source under a Funding Agreement or to require any payment calculated by reference to the amount of interests or loans held or interest received by it, then, upon demand by the applicable Co-Agent, the Seller shall pay to
such Co-Agent, for the benefit of the relevant Funding Source, such amounts charged to such Funding Source or compensate such Funding Source for such reduction. For the avoidance of doubt, if FASB Interpretation No. 46, or any other change in
accounting standards or the issuance of any other pronouncement, release or interpretation, causes or requires the consolidation of all or a portion of the assets and liabilities of any Conduit or the Seller with the assets and liabilities of any
Agent, any Person or any other Funding Source, such event shall constitute a circumstance on which such Funding Source may base a claim for reimbursement under this Section. 
  
 (b) Payment of any sum pursuant to Section 8.2(a) shall be made by the Seller to the applicable Co-Agent, for the benefit of
the relevant Funding Source, not later than ten (10) days after any such demand is made. A certificate of any Funding Source, signed by an authorized officer claiming compensation under this Section 8.2 and setting forth the additional amount to be
paid for its benefit and explaining the manner in which such amount was determined shall be conclusive evidence of the amount to be paid, absent manifest error. 
  

Section 8.3. Costs and Expenses Relating to this Agreement. The Seller shall pay to the Agents on demand all costs and out-of-pocket expenses in
connection with the preparation, execution, delivery and administration of this Agreement, the transactions contemplated hereby and the other documents to be delivered hereunder, including without limitation, the reasonable cost of the Agents’
auditors auditing the books, records and procedures of the Seller, reasonable fees and out-of-pocket expenses of legal counsel for the Agents and the Purchasers (which such counsel may be employees of an Agent or a Purchaser) with respect thereto
and with respect to advising the Agents and the Purchasers as to their respective rights and remedies under this 
  

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 Agreement. The Seller shall pay to the Agents on demand any and all reasonable costs and expenses of the Agents and the
Purchasers, if any, including reasonable counsel fees and expenses in connection with the enforcement of this Agreement and the other documents delivered hereunder and in connection with any restructuring or workout of this Agreement or such
documents, or the administration of this Agreement following a Servicer Default. 
  
 ARTICLE IX 
 THE AGENTS 
  
 Section 9.1. Appointment. 
  

(a) Each member of the Three Pillars Group hereby irrevocably designates and appoints STCM as Three Pillars Agent hereunder and under the other
Transaction Documents to which the Three Pillars Agent is a party, and authorizes the Three Pillars Agent to take such action on its behalf under the provisions of the Transaction Documents and to exercise such powers and perform such duties as are
expressly delegated to the Three Pillars Agent by the terms of the Transaction Documents, together with such other powers as are reasonably incidental thereto. Each member of the Blue Ridge Group hereby irrevocably designates and appoints Wachovia
Bank, National Association as Blue Ridge Agent hereunder and under the other Transaction Documents to which the Blue Ridge Agent is a party, and authorizes the Blue Ridge Agent to take such action on its behalf under the provisions of the
Transaction Documents and to exercise such powers and perform such duties as are expressly delegated to the Blue Ridge Agent by the terms of the Transaction Documents, together with such other powers as are reasonably incidental thereto. Each member
of the Falcon Group hereby irrevocably designates and appoints Bank One as Falcon Agent hereunder and under the other Transaction Documents to which the Falcon Agent is a party, and authorizes the Falcon Agent to take such action on its behalf under
the provisions of the Transaction Documents and to exercise such powers and perform such duties as are expressly delegated to the Falcon Agent by the terms of the Transaction Documents, together with such other powers as are reasonably incidental
thereto. Each of the Purchasers and the Co-Agents hereby irrevocably designates and appoints Bank One, NA (Main Office Chicago) as Administrative Agent hereunder and under the Transaction Documents to which the Administrative Agent is a party, and
authorizes the Administrative Agent to take such action on its behalf under the provisions of the Transaction Documents and to exercise such powers and perform such duties as are expressly delegated to the Administrative Agent by the terms of the
Transaction Documents, together with such other powers as are reasonably incidental thereto. Notwithstanding any provision to the contrary elsewhere in this Agreement, none of the Agents shall have any duties or responsibilities, except those
expressly set forth in the Transaction Documents to which it is a party, or any fiduciary relationship with any Purchaser, and no implied covenants, functions, responsibilities, duties, obligations or liabilities on the part of such Agent shall be
read into any Transaction Document or otherwise exist against such Agent. 
  
 (b) The provisions of this Article IX are solely for the benefit of the Agents and the Purchasers, and neither the Seller nor the Servicer shall have any rights as a third-party beneficiary or otherwise under any of
the provisions of this Article IX, except that this Article IX shall not affect any obligations which any of the Agents or Purchasers may have to either the Seller or the Servicer under the other provisions of this Agreement. 
  

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 (c) In performing its functions and duties hereunder, (i) the Blue Ridge Agent shall act solely as the
agent of the members of the Blue Ridge Group and does not assume and shall not be deemed to have assumed any obligation or relationship of trust or agency with or for the Seller or the Servicer or any of their respective successors and assigns, (ii)
the Three Pillars Agent shall act solely as the agent of the members of the Three Pillars Group and does not assume and shall not be deemed to have assumed any obligation or relationship of trust or agency with or for the Seller or the Servicer or
any of their respective successors and assigns, (iii) the Falcon Agent shall act solely as the agent of the members of the Falcon Group and does not assume and shall not be deemed to have assumed any obligation or relationship of trust or agency
with or for either the Seller or the Servicer or any of their respective successors and assigns, and (iv) the Administrative Agent shall act solely as the agent of the Co-Agents and the Purchasers and does not assume and shall not be deemed to have
assumed any obligation or relationship of trust or agency with or for the Seller or the Servicer or any of their respective successors and assigns. 
  
 Section 9.2. Delegation of Duties. Each Agent may execute any of its duties under the applicable Transaction Documents by or through agents or
attorneys-in-fact and shall be entitled to advice of counsel concerning all matters pertaining to such duties. No Agent shall be responsible for the negligence or misconduct of any agents or attorneys-in-fact selected by it with reasonable care.

  
 Section 9.3. Exculpatory Provisions. None of the Agents
nor any of its directors, officers, agents or employees shall be (i) liable for any action lawfully taken or omitted to be taken by it or them or any Person described in Section 9.2 under or in connection with this Agreement (except for its, their
or such Person’s own bad faith, gross negligence or willful misconduct), or (ii) responsible in any manner to any of the Purchasers or other Agents for any recitals, statements, representations or warranties made by the Seller contained in this
Agreement or in any certificate, report, statement or other document referred to or provided for in, or received under or in connection with, this Agreement or for the value, validity, effectiveness, genuineness, enforceability or sufficiency of
this Agreement or any other document furnished in connection herewith, or for any failure of either the Seller or the Servicer to perform its respective obligations hereunder, or for the satisfaction of any condition specified in Article IV, except
receipt of items required to be delivered to such Agent. None of the Agents shall be under any obligation to any other Agent or any Purchaser to ascertain or to inquire as to the observance or performance of any of the agreements or covenants
contained in, or conditions of, this Agreement, or to inspect the properties, books or records of the Seller or the Servicer. This Section 9.3 is intended solely to govern the relationship between the Agents, on the one hand, and the Purchasers, on
the other. 
  

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 Section 9.4. Reliance by Agents. 
  
 (a) Each of the Agents shall in all cases be entitled to rely, and shall be fully protected in relying, upon any note,
writing, resolution, notice, consent, certificate, affidavit, letter, telegram, telecopy or telex message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the
proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to the Seller or the Servicer), independent accountants and other experts selected by such Agent. Each of the Agents shall in all cases
be fully justified in failing or refusing to take any action under this Agreement or any other document furnished in connection herewith unless it shall first receive such advice or concurrence of such of the members of its Group, as it shall
determine to be appropriate under the relevant circumstances, or it shall first be indemnified to its satisfaction by the Committed Purchasers in its Group against any and all liability, cost and expense which may be incurred by it by reason of
taking or continuing to take any such action. 
  
 (b) Any action
taken by any of the Agents in accordance with Section 9.4(a) shall be binding upon all of the Agents and the Purchasers. 
  
 Section 9.5. Notice of Seller Defaults. None of the Agents shall be deemed to have knowledge or notice of the occurrence of any Servicer Default or
Potential Servicer Default unless such Agent has received notice from another Agent, a Purchaser, the Seller or the Servicer referring to this Agreement, stating that a Servicer Default or Potential Servicer Default has occurred hereunder and
describing such Servicer Default or Potential Servicer Default. In the event that any of the Agents receives such a notice, it shall promptly give notice thereof to the Purchasers and the other Agents. The Administrative Agent shall take such action
with respect to such Servicer Default or Potential Servicer Default as shall be directed by any of the Co-Agents provided that the Administrative Agent is indemnified to its satisfaction by such Co-Agent and the Committed Purchasers in
its Group against any and all liability, cost and expense which may be incurred by it by reason of taking any such action. 
  
 Section 9.6. Non-Reliance on Other Agents and Purchasers. Each of the Purchasers expressly acknowledges that none of the Agents, nor any of the
Agents’ respective officers, directors, employees, agents, attorneys-in-fact or affiliates has made any representations or warranties to it and that no act by any of the Agents hereafter taken, including, without limitation, any review of the
affairs of the Seller, the Servicer or the Originators, shall be deemed to constitute any representation or warranty by such Agent. Each of the Purchasers also represents and warrants to the Agents and the other Purchasers that it has, independently
and without reliance upon any such Person (or any of their Affiliates) and based on such documents and information as it has deemed appropriate, made its own appraisal of and investigation into the business, operations, property, prospects,
financial and other conditions and creditworthiness of the Seller, the Servicer and the Originators and made its own decision to enter into this Agreement. Each of the Purchasers also represents that it will, independently and without reliance upon
the Agents or any other Purchaser, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit analysis, appraisals and decisions in taking or not taking action under this Agreement, and to
make such investigation as it deems necessary to inform itself as to the business, operations, property, prospects, financial 
  

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 and other condition and creditworthiness of the Seller, the Servicer and the Originators. The Agents, the Purchasers and
their respective Affiliates, shall have no duty or responsibility to provide any party to this Agreement with any credit or other information concerning the business, operations, property, prospects, financial and other condition or creditworthiness
of the Seller, the Servicer and the Originators which may come into the possession of such Person or any of its respective officers, directors, employees, agents, attorneys-in-fact or affiliates, except that each of the Agents shall promptly
distribute to the other Agents and the Purchasers, copies of financial and other information expressly provided to it by either of the Seller or the Servicer pursuant to this Agreement. 
  
 Section 9.7. Indemnification of Agents. Each of the Committed Purchasers hereby agrees to indemnify (a) its
applicable Co-Agent, (b) the Administrative Agent, and (c) the officers, directors, employees, representatives and agents of each of the foregoing (to the extent not reimbursed by the Seller or the Servicer and without limiting the obligation of the
Seller or the Servicer to do so), ratably in accordance with their respective Commitments, from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or
nature whatsoever (including, without limitation, the reasonable fees and disbursements of counsel for such Co-Agent, the Administrative Agent or such Person in connection with any investigative, administrative or judicial proceeding commenced or
threatened, whether or not such Co-Agent or the Administrative Agent or such Person shall be designated a party thereto) that may at any time be imposed on, incurred by or asserted against such Co-Agent, the Administrative Agent or such Person as a
result of, or arising out of, or in any way related to or by reason of, any of the transactions contemplated hereunder or the execution, delivery or performance of this Agreement or any other document furnished in connection herewith (but excluding
any such liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements resulting solely from the bad faith, gross negligence or willful misconduct of such Co-Agent, the Administrative Agent or such
Person as finally determined by a court of competent jurisdiction). 
  
 Section 9.8. Agents in their Individual Capacities. Each of the Agents in its individual capacity and its Affiliates may make loans to, accept deposits from and generally engage in any kind of business with the Seller, the Servicer,
the Originators and their Affiliates as though such Agent were not an Agent hereunder. With respect to its Receivable Interests, if any, pursuant to this Agreement, each of the Agents shall have the same rights and powers under this Agreement as any
Purchaser and may exercise the same as though it were not an Agent, and the terms “Committed Purchaser,” “Committed Purchasers,” “Purchaser” and “Purchasers” shall include each of the Agents in their
individual capacities. 
  
 Section 9.9. UCC Filings. Each
of the Co-Agents and the Purchasers hereby expressly recognizes and agrees that the Administrative Agent may be listed as the assignee or secured party of record on the various UCC filings required to be made under the Transaction Documents in order
to perfect their respective interests in the Receivables, the Collections, each Collection Account and all Related Security, that such listing shall be for administrative convenience only in creating a record or nominee holder to take certain
actions hereunder on behalf of the Groups and that such listing will not affect in any way the status of the Purchasers as the true parties in interest with respect to the collateral covered thereby. In addition, such listing shall impose no duties
on the Administrative Agent other than those expressly and specifically undertaken in accordance with this Article IX. 
  

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 Section 9.10. Successor Agents. If any Agent or its holding company is merged with or into any
other Person, such Agent may, upon five days’ notice to the Seller and the other Agents, assign its rights and obligations hereunder to the survivor of such merger or any of its bank Affiliates, in each case, provided that both
Standard & Poor’s Ratings Group and Moody’s Investors Service, Inc. have approved the proposed assignee as the successor administrator of such Agent’s Conduit. After the effectiveness of any assigning Agent’s assignment
hereunder, the assigning Agent shall be discharged from its duties and obligations hereunder and under the other Transaction Documents and the provisions of this Article IX and Article VIII shall continue in effect for its benefit with respect to
any actions taken or omitted to be taken by it while it was an Agent under this Agreement and under the other Transaction Documents. 
  
 ARTICLE X 
 ASSIGNMENTS;
PARTICIPATIONS 
  
 Section 10.1. Assignments.

  
 (a) Each of the parties hereby agrees and consents to the
complete or partial assignment by each Conduit of all or any portion of its rights under, interest in, title to and obligations under this Agreement to (i) its Committed Purchasers pursuant to its Liquidity Agreement, and (ii) another special
purpose asset-backed commercial paper issuer administered by a Co-Agent or one of its Affiliates. Upon each such assignment pursuant to this Section 10.1(a), such Conduit shall be released from its obligations so assigned. Further, each of
the other parties hereby agrees that any assignee of a Conduit of this Agreement or all or any of its Receivable Interests shall have all of the rights and benefits under this Agreement as if references to such Conduit or to a “Purchaser”
explicitly referred to such assignee, and no such assignment shall in any way impair the rights and benefits of such Conduit hereunder. 
  
 (b) Any Committed Purchaser may at any time and from time to time assign to one or more Persons (“Purchasing Committed
Purchasers”) all or any part of its rights and obligations under this Agreement pursuant to an assignment agreement, in a form and substance satisfactory to the applicable Co-Agent (the “Assignment Agreement”),
executed by such Purchasing Committed Purchaser and such selling Committed Purchaser. The consent of (i) the applicable Conduit and (ii) provided no Servicer Default or Potential Servicer Default exists and is continuing, the Seller (which consent
of the Seller shall not be unreasonably withheld or delayed), shall be required prior to the effectiveness of any such assignment. Each assignee of a Committed Purchaser must have a short-term debt rating of A-1 or better by Standard &
Poor’s Ratings Group and P-1 by Moody’s Investors Service, Inc. and must agree to deliver to the applicable Co-Agent, promptly following any request therefor by such Co-Agent or its Conduit, an enforceability opinion in form and substance
satisfactory to such Co-Agent and Conduit. Upon delivery of the executed Assignment Agreement to the applicable Co-Agent, such selling Committed Purchaser shall be released from its obligations hereunder to the extent of such assignment. Thereafter
the Purchasing Committed Purchaser shall for all purposes be a Committed Purchaser party to this Agreement and shall have all the rights and obligations of a Committed Purchaser under this Agreement to the same extent as if it were an original party
hereto and no further consent or action by the Seller, the Purchasers or the Agents shall be required. 
  

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 (c) The Seller shall not have the right to assign its rights or obligations under this Agreement.

  
 Section 10.2. Participations. Any Committed Purchaser
may, in the ordinary course of its business at any time sell to one or more Persons (each, a “Participant”) participating interests in its Pro Rata Share of the Receivable Interests of the Committed Purchasers or any other
interest of such Committed Purchaser hereunder. Notwithstanding any such sale by a Committed Purchaser of a participating interest to a Participant, such Committed Purchaser’s rights and obligations under this Agreement shall remain unchanged,
such Committed Purchaser shall remain solely responsible for the performance of its obligations hereunder, and the Seller, the Conduits and the Agents shall continue to deal solely and directly with such Committed Purchaser in connection with such
Committed Purchaser’s rights and obligations under this Agreement. Each Committed Purchaser agrees that any agreement between such Committed Purchaser and any such Participant in respect of such participating interest shall not restrict such
Committed Purchaser’s right to agree to any amendment, supplement, waiver or modification to this Agreement, except for any amendment, supplement, waiver or modification described in clause (i) of Section 11.1(b). 
  
 ARTICLE XI 
 MISCELLANEOUS 
  
 Section 11.1. Waivers and Amendments. 
  
 (a) No failure or delay on the part of any party hereto in exercising any power, right or remedy under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any such power,
right or remedy preclude any other further exercise thereof or the exercise of any other power, right or remedy. The rights and remedies herein provided shall be cumulative and nonexclusive of any rights or remedies provided by law. Any waiver of
this Agreement shall be effective only in the specific instance and for the specific purpose for which given. 
  
 (b) Except as set forth in Section 7.1(h), no provision of this Agreement may be amended, supplemented, modified or waived except in writing in accordance
with the provisions of this Section 11.1(b). Each of the Co-Agents shall be responsible for determining what consents, if any, it must obtain from the members of its Group before entering into any amendment, supplement, modification or waiver of the
Agreement. The Sellers and the Agents may enter into written modifications or waivers of any provisions of this Agreement, provided, however, that no such modification or waiver shall: 
  
 (i) without the consent of each affected Purchaser, (A)
extend the Liquidity Termination Date or the date of any payment or deposit of Collections by the Seller or the Servicer, (B) reduce the rate or extend the time of payment of Discount (or any component thereof), (C) reduce any fee payable to any
Agent for the benefit of the Purchasers, (D) except pursuant to Article X hereof, change the 
  

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 amount of the Capital of any Purchaser, a Committed Purchaser’s Pro Rata Share or a Committed
Purchaser’s Commitment, (E) amend, modify or waive any provision of the definition of Required Committed Purchasers or this Section 11.1(b), (F) consent to or permit the assignment or transfer by the Seller of any of its rights and obligations
under this Agreement, (G) change the definition of “Eligible Receivable,” “Discount Reserve,” “Loss Reserve Percentage,” “Aggregate Reserve Percentage” or “Default Ratio,” or (H) amend or modify any
defined term (or any defined term used directly or indirectly in such defined term) used in clauses (A) through (G) above in a manner which would circumvent the intention of the restrictions set forth in such clauses; or 
  
 (ii) without the written consent of the applicable Agent,
amend, modify or waive any provision of this Agreement if the effect thereof is to affect the rights or duties of such Agent. 
  
 Notwithstanding the foregoing, without the consent of the Seller, the Agents may enter into amendments to modify any of the terms or provisions of Article
IX, Article X (other than provisions requiring the consent of Seller to any assignment) or Section 11.13 provided that such amendment has no negative impact upon the Seller. Any modification or waiver made in accordance with this
Section 11.1 shall apply to each of the Purchasers equally and shall be binding upon the Seller, the Servicer, the Purchasers and the Agents. 
  
 Section 11.2. Notices. 
  
 (a) Except as provided in subsection (b) below, all communications and notices provided for hereunder shall be in writing (including bank wire, telecopy
or electronic facsimile transmission or similar writing) and shall be given to the other parties hereto at their respective addresses or telecopy numbers set forth on the signature pages hereof. All such communications and notices shall, when
mailed, telecopied, telegraphed, telexed or cabled, be effective when received through the mails, transmitted by telecopy, delivered to the telegraph company, confirmed by telex answerback or delivered to the cable company, respectively, except that
communications and notices to any of the Agents or Purchasers pursuant to Article I shall not be effective until received by the intended recipient. 
  
 (b) The Seller hereby authorizes each of the Agents to effect purchases and Tranche Period and Discount Rate selections based on telephonic notices made
by any Person whom such Agent in good faith believes to be acting on behalf of the Seller. The Seller agrees to deliver promptly to each applicable Agent a written confirmation of each telephonic notice signed by an authorized officer of the Seller.
However, the absence of such confirmation shall not affect the validity of such notice. If the written confirmation differs from the action taken by any Agent, the records of such Agent shall govern absent manifest error. 
  
 Section 11.3. Ratable Payments. If any Purchaser, whether by setoff or
otherwise, has payment made to it with respect to any portion of the Aggregate Unpaids owing to such Purchaser (other than payments received pursuant to Section 8.2 or 8.3) in a greater proportion than that received by any other Purchaser entitled
to receive a ratable share of such Aggregate Unpaids, such Purchaser agrees, promptly upon demand, to purchase for cash without 
  

 35 

 recourse or warranty a portion of the Aggregate Unpaids held by the other Purchasers so that after such purchase each
Purchaser will hold its ratable proportion of the Aggregate Unpaids; provided that if all or any portion of such excess amount is thereafter recovered from such Purchaser, such purchase shall be rescinded and the purchase price
restored to the extent of such recovery, but without interest. 
  
 Section 11.4. Protection of Ownership Interests of the Purchasers. 
  
 (a) The Seller agrees that from time to time, at its expense, it will promptly execute and deliver all instruments and documents, and take all actions, that may be necessary or desirable, or that any Agent may
reasonably request, to perfect, protect or more fully evidence the Receivable Interests, or to enable the Administrative Agent, on behalf of the Groups, to exercise and enforce its rights and remedies hereunder. The Administrative Agent may, or the
Administrative Agent may direct the Seller to, notify the Obligors of Receivables, at any time following the replacement of the Seller as Servicer and at the Seller’s expense, of the ownership interests of the Purchasers under this Agreement
and may also direct that payments of all amounts due or that become due under any or all Receivables be made directly to the Administrative Agent or its designee. The Seller shall, at any Purchaser’s written request, withhold the identity of
such Purchaser in any such notification. 
  
 (b) If the Seller or
the Servicer fails to perform any of its obligations hereunder, any of the Agents may (but shall not be required to) perform, or cause performance of, such obligation; and such Agent’s costs and expenses incurred in connection therewith shall
be payable by the Seller (if the Servicer that fails to so perform is the Seller or an Affiliate thereof) as provided in Section 8.3, as applicable. The Seller and the Servicer each irrevocably authorizes the Administrative Agent at any time and
from time to time in the sole discretion of the Administrative Agent, and appoints the Administrative Agent as its attorney-in-fact, to act on behalf of the Seller and the Servicer (i) to execute on behalf of the Seller as debtor (if required) and
to file financing statements necessary or desirable in the Administrative Agent’s sole discretion to perfect and to maintain the perfection and priority of the interest of the Administrative Agent, on behalf of the Groups, in the Receivables
and (ii) to file a carbon, photographic or other reproduction of this Agreement or any financing statement with respect to the Receivables as a financing statement in such offices as the Administrative Agent in its sole discretion deems necessary or
desirable to perfect and to maintain the perfection and priority of the interests of the Purchasers in the Receivables. This appointment is coupled with an interest and is irrevocable. 
  
 Section 11.5. Confidentiality. 
  
 (a) The Seller shall maintain and shall cause each of its employees and officers to maintain the confidentiality of this
Agreement and the other confidential proprietary information with respect to the Agents and the Conduits and their respective businesses obtained by it or them in connection with the structuring, negotiating and execution of the transactions
contemplated herein, except that the Seller and its officers and employees may disclose such information to the Seller’s external accountants and attorneys and as required by any applicable law or order of any judicial or administrative
proceeding. In addition, the Seller may disclose any such nonpublic information pursuant to any law, rule, regulation, direction, request or order of any judicial, administrative or regulatory authority or proceedings (whether or not having the
force or effect of law). 
  

 36 

 (b) Anything herein to the contrary notwithstanding, the Seller hereby consents to the disclosure of any
nonpublic information with respect to it (i) to the Agents, the Committed Purchasers or the Conduits by each other, (ii) by the Agents or the Purchasers to any prospective or actual assignee or participant of any of them or (iii) by the Co-Agents to
any rating agency, Commercial Paper dealer or provider of a surety, guaranty or credit or liquidity enhancement to any of the Conduits or any entity organized for the purpose of purchasing, or making loans secured by, financial assets for which any
of the Co-Agents acts as the administrator and to any officers, directors, employees, outside accountants and attorneys of any of the foregoing, provided each such Person is informed of the confidential nature of such information in a manner
consistent with the practice of the applicable Agent for the making of such disclosures generally to Persons of such type. In addition, the Purchasers and the Agents may disclose any such nonpublic information pursuant to any law, rule, regulation,
direction, request or order of any judicial, administrative or regulatory authority or proceedings (whether or not having the force or effect of law). 
  
 Section 11.6. Bankruptcy Petition. Each of the Seller, the Agents and the Committed Purchasers hereby covenants and agrees that, prior to the date
which is one year and one day after the payment in full of all outstanding senior indebtedness of each of the Conduits, it will not institute against, or join any other Person in instituting against, such Conduit any bankruptcy, reorganization,
arrangement, insolvency or liquidation proceedings or other similar proceeding under the laws of the United States or any state of the United States. 
  
 Section 11.7. Limitation of Liability. Except with respect to any claim arising out of the willful misconduct or gross negligence of any of the
Agents or the Purchasers, no claim may be made by the Seller, the Servicer or any other Person against any of the Agents or Purchasers or their respective Affiliates, directors, officers, employees, attorneys or agents for any special, indirect,
consequential or punitive damages in respect of any claim for breach of contract or any other theory of liability arising out of or related to the transactions contemplated by this Agreement, or any act, omission or event occurring in connection
therewith; and the Seller hereby waives, releases, and agrees not to sue upon any claim for any such damages, whether or not accrued and whether or not known or suspected to exist in its favor. 
  
 Section 11.8. CHOICE OF LAW. THIS AGREEMENT SHALL BE CONSTRUED IN
ACCORDANCE WITH THE INTERNAL LAWS (AND NOT THE LAW OF CONFLICTS) OF THE STATE OF NEW YORK. 
  
 Section 11.9. CONSENT TO JURISDICTION. THE SELLER HEREBY IRREVOCABLY SUBMITS TO THE NON-EXCLUSIVE JURISDICTION OF ANY UNITED STATES FEDERAL OR NEW YORK STATE COURT SITTING IN THE BOROUGH OF MANHATTAN IN ANY
ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY DOCUMENT EXECUTED BY THE SELLER PURSUANT TO THIS AGREEMENT AND THE SELLER HEREBY IRREVOCABLY AGREES THAT ALL CLAIMS IN RESPECT OF SUCH ACTION OR PROCEEDING MAY BE HEARD AND
DETERMINED IN ANY SUCH COURT AND IRREVOCABLY WAIVES ANY OBJECTION 
  

 37 

 IT MAY NOW OR HEREAFTER HAVE AS TO THE VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN SUCH A COURT OR THAT SUCH
COURT IS AN INCONVENIENT FORUM. NOTHING HEREIN SHALL LIMIT THE RIGHT OF ANY AGENT OR ANY PURCHASER TO BRING PROCEEDINGS AGAINST THE SELLER IN THE COURTS OF ANY OTHER JURISDICTION WHEREIN ANY ASSETS OF THE SELLER OR ANY ORIGINATOR MAY BE LOCATED. ANY
JUDICIAL PROCEEDING BY THE SELLER AGAINST ANY AGENT OR PURCHASER OR ANY AFFILIATE OF ANY AGENT OR PURCHASER INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER IN ANY WAY ARISING OUT OF, RELATED TO, OR CONNECTED WITH THIS AGREEMENT OR ANY DOCUMENT
EXECUTED BY THE SELLER PURSUANT TO THIS AGREEMENT SHALL BE BROUGHT ONLY IN A COURT IN THE BOROUGH OF MANHATTAN, STATE OF NEW YORK. 
  
 Section 11.10. WAIVER OF JURY TRIAL. EACH OF THE SELLER, THE AGENTS AND THE PURCHASERS HEREBY WAIVES TRIAL BY JURY IN ANY JUDICIAL PROCEEDING
INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER (WHETHER SOUNDING IN TORT, CONTRACT OR OTHERWISE) IN ANY WAY ARISING OUT OF, RELATED TO, OR CONNECTED WITH THIS AGREEMENT, ANY DOCUMENT EXECUTED BY THE SELLER PURSUANT TO THIS AGREEMENT OR THE
RELATIONSHIP ESTABLISHED HEREUNDER OR THEREUNDER. 
  
 Section
11.11. Integration; Survival of Terms. This Agreement, the Sale Agreement, the Collection Account Agreements, the Liquidity Agreements and the Fee Letters contain the final and complete integration of all prior expressions by the parties
hereto with respect to the subject matter hereof and shall constitute the entire agreement among the parties hereto with respect to the subject matter hereof superseding all prior oral or written understandings. The provisions of Article VIII and
Section 11.6 shall survive any termination of this Agreement. 
  
 Section 11.12. Counterparts; Severability. This 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. Any provisions of this Agreement which are prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition
or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 
  
 Section 11.13. Co-Agent Roles. 
  
 (a) Each of the Falcon Committed Purchasers acknowledges that Bank One and
certain of its Affiliates including Banc One Capital Markets, Inc. act, or may in the future act, (i) as administrative agent for Falcon, (ii) as issuing and paying agent for the Commercial Paper of Falcon, (iii) to provide credit or liquidity
enhancement for the timely payment for the Commercial Paper of Falcon, and (iv) to provide other services from time to time for Falcon (collectively, the “Bank One Roles”). Without limiting the generality of this Section
11.13(a), each Bank One Committed Purchaser hereby acknowledges and consents to any and all Bank 
  

 38 

 One Roles and agrees that in connection with any Bank One Role, Bank One may take, or refrain from taking, any action
which it, in its discretion, deems appropriate, including, without limitation, in its role as administrative agent for Falcon, the giving of notice of a purchase pursuant to the Falcon Liquidity Agreement. 
  
 (b) Each of the Blue Ridge Committed Purchasers acknowledges that Wachovia
and certain of its Affiliates including Wachovia Capital Markets, LLC act, or may in the future act, (i) as administrative agent for Blue Ridge, (ii) as issuing and paying agent for the Commercial Paper of Blue Ridge, (iii) to provide credit or
liquidity enhancement for the timely payment for the Commercial Paper of Blue Ridge, and (iv) to provide other services from time to time for Blue Ridge (collectively, the “Wachovia Roles”). Without limiting the generality of
this Section 11.13(b), each Blue Ridge Committed Purchaser hereby acknowledges and consents to any and all Wachovia Roles and agrees that in connection with any Wachovia Role, Wachovia may take, or refrain from taking, any action which it, in its
discretion, deems appropriate, including, without limitation, in its role as administrative agent for Blue Ridge, the giving of notice of a purchase pursuant to the Blue Ridge Liquidity Agreement. 
  
 (c) Each of the Three Pillars Committed Purchasers acknowledges that STCM and
certain of its Affiliates including SunTrust act, or may in the future act, (i) as administrator for Three Pillars, (ii) as issuing and paying agent for the Commercial Paper of Three Pillars, (iii) to provide credit or liquidity enhancement for the
timely payment for the Commercial Paper of Three Pillars, and (iv) to provide other services from time to time for Three Pillars (collectively, the “SunTrust Roles”). Without limiting the generality of this Section 11.13(c),
each Three Pillars Committed Purchaser hereby acknowledges and consents to any and all SunTrust Roles and agrees that in connection with any SunTrust Role, STCM may take, or refrain from taking, any action which it, in its discretion, deems
appropriate, including, without limitation, in its role as administrative agent for Three Pillars, the giving of notice of a purchase pursuant to the Three Pillars Liquidity Agreement. 
  
 Section 11.14. Characterization. It is the intention of the parties hereto that each purchase hereunder shall
constitute an absolute and irrevocable sale for all purposes other than financial accounting purposes, which purchase shall provide the applicable Purchaser with the full benefits of ownership of the applicable Receivable Interest. Except as
specifically provided in this Agreement, each sale of a Receivable Interest hereunder is made without recourse to the Seller; provided, however, that (i) the Seller shall be liable to each of the Purchasers and the Agents for all
representations, warranties and covenants made by the Seller pursuant to the terms of this Agreement, and (ii) such sale does not constitute and is not intended to result in an assumption by any Purchaser or Agent or any assignee thereof of any
obligation of the Seller or any Originator or any other person arising in connection with the Receivables, the Related Security, or the related Invoices, or any other obligations of the Seller or any Originator. 
  
 [signature pages follow] 
  

 39 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed and
delivered by their duly authorized officers as of the date hereof. 
  

			
	 YELLOW ROADWAY RECEIVABLES
 FUNDING
CORPORATION

		
	 By:
	 	  

	 Name:
	 	 
	 Title:
	 	 

  

	
	 Address for Notices:
  

	 Yellow Roadway Receivables Funding Corporation

	 10990 Roe Avenue

	 P.O. Box 7489

	 Overland Park, KS 66211

	 Attention:         President

	 Phone: (913) 696-6125

	 Fax: (913) 323-9824

  

 40 

			
	FALCON ASSET SECURITIZATION
CORPORATION
		
	 By:
	 	  
  

	 	 	        Authorized Signatory

  

	
	 Address for Notices:
  

	 Falcon Asset Securitization Corporation

	 c/o Bank One, NA (Main Office Chicago)

	 Asset-Backed Finance

	 1 Bank One Plaza, IL1-1729

	 Chicago, Illinois 60670-1729

	 Attention: John Kuhns

	 Fax: (312) 732-3600

  

 41 

			
	 BLUE RIDGE ASSET FUNDING
 CORPORATION

		
	 BY:
	 	 WACHOVIA CAPITAL MARKETS, LLC, ITS
 ATTORNEY-IN-FACT

		
	 By:
	 	  

	 Title:
	 	 

  

	
	 Address for Notices:
  

	Blue Ridge Asset Funding Corporation
	301 S. College St.,
	FLR TRW 10 NC0610
	Charlotte, NC 28288-0610
	Attention: Douglas R. Wilson, Sr.
	
	Phone: (704) 374-2520
	Fax:     (704) 383-9579
	
	 With a copy to:
  

	Blue Ridge Asset Funding Corporation
	c/o AMACAR Group, L.L.C.
	6525 Morrison Blvd., Suite 318
	Charlotte, North Carolina 28211
	Attention: Douglas K. Johnson
	Phone: (704) 365-0569
	Fax:     (704) 365-1362

  

 42 

			
	 SUNTRUST CAPITAL MARKETS, INC., as
 Three
Pillars Agent
  

	 By:
  
	 	

	 Title:
	 	 

  

			
	 Address for notices:
  

	SunTrust Capital Markets, Inc.
	24th Floor, MC3950
	303 Peachtree Street
	Atlanta, Georgia 30308
	Attention:	 	ABS Surveillance
	Facsimile:	 	(404) 813-5000
	Telephone:	 	(404) 588-7907

  

 43 

			
	 THREE PILLARS FUNDING LLC
  

	 By:
	 	  

	 Title:
	 	 

  

			
	 Address for notices:
  

	Three Pillars Funding LLC
	c/o SunTrust Capital Markets, Inc.
	24th Floor, MC3950
	303 Peachtree Street
	Atlanta, Georgia 30308
	Attention:	 	ABS Surveillance
	Facsimile:	 	(404) 813-5000
	Telephone:	 	(404) 588-7907

  

 44 

 COMMITTED PURCHASERS: 
  

							
	 COMMITMENT

	 	 PRO RATA SHARE 
 FOR FALCON GROUP

	 	 	 	 
	 $200,000,000
	 	100%	 	 BANK ONE, NA as a Committed Purchaser, as
 Falcon Agent and as Administrative Agent
  

	 	 	 	 	 By:
  
	 	

	 	 	 	 	 Title:
  
	 	 
	 	 	 	 	 Address for notices:
  

	 	 	 	 	Bank One, NA (Main Office Chicago)
	 	 	 	 	Asset-Backed Finance
	 	 	 	 	1 Bank One Plaza, IL1-1729
	 	 	 	 	Chicago, Illinois 60670-1729
	 	 	 	 	Attention: John Kuhns
	 	 	 	 	Fax: (312) 732-3600
	 	 	 	 	 

  

 45 

											
	 COMMITMENT

	  	 PRO RATA SHARE 
 FOR THREE PILLARS GROUP

	  	 	 	 
	$125,000,000	  	100%	  	 	 	SUNTRUST BANK, as a Committed
Purchaser
				
	 	  	 	  	 	 	 By:

	 	  	 	  	 	 	 Title:
  
	 	 
	 	  	 	  	 	 	Address for notices:
				
	 	  	 	  	 	 	SunTrust Bank
	 	  	 	  	 	 	201 Fourth Avenue, North
	 	  	 	  	 	 	Nashville, TN 37219
	 	  	 	  	 	 	Attention:	 	Bill Crawford
	 	  	 	  	 	 	Facsimile:	 	(615) 748-5269
	 	  	 	  	 	 	Telephone:	 	(615) 748-4629

  

 46 

  

							
	 COMMITMENT

	 	 PRO RATA SHARE 
 FOR BLUE RIDGE GROUP

	 	 	 	 
	 $125,000,000
	 	100%	 	 WACHOVIA BANK ONE, NATIONAL
 ASSOCIATION, as
a Committed Purchaser and as
 Blue Ridge Agent
  

	 	 	 	 	 By:
  
	 	

	 	 	 	 	 Title:
  
	 	 
	 	 	 	 	 Address for notices:
  

	 	 	 	 	Wachovia Bank, National Association
	 	 	 	 	191 Peachtree Street, N.E.
	 	 	 	 	22nd Floor, Mail Stop GA-8088
	 	 	 	 	Atlanta, Georgia 30303
	 	 	 	 	Attention: Eero Maki
	 	 	 	 	Fax: (404) 332-5275
	
	 	 	 	 	 	 
	 $450,000,000
	 	PURCHASE LIMIT	 	 	 	 

  

 47 

 EXHIBIT I 
 DEFINITIONS 
  
 As
used in this Agreement, the following terms shall have the following meanings (such meanings to be equally applicable to both the singular and plural forms of the terms defined): 
  
 “Accrual Period” means each calendar month, provided that the initial Accrual Period
hereunder means the period from (and including) the date of the initial purchase hereunder to (and including) the last day of the calendar month thereafter. 
  
 “Administrative Agent” has the meaning specified in the preamble to this Agreement. 
  
 “Adverse Claim” means a lien, security interest,
charge or encumbrance, or other right or claim in, of or on any Person’s assets or properties in favor of any other Person. 
  
 “Affiliate” means, with respect to any Person, any other Person directly or indirectly controlling, controlled by, or under direct
or indirect common control with such Person or any Subsidiary of such Person. A Person shall be deemed to control another Person if the controlling Person possesses, directly or indirectly, the power to direct or cause the direction of the
management or policies of the other Person, whether through ownership of voting securities, by contract or otherwise. In addition, for purposes of the definitions of “Concentration Limit,” “Eligible Receivable” and “Net
Receivables Balance,” a Person shall be deemed to control another Person if such Person owns more than 50% of any class of voting securities (or corresponding interest in the case of non-corporate entities) of the other Person. 
  
 “Agents” means the Co-Agents and the Administrative
Agent, and “Agent” means any one of the foregoing. 
  
 “Aggregate Reduction” has the meaning specified in Section 1.3. 
  
 “Aggregate Reserve Percentage” means, on any date of determination, the sum of the Loss Reserve Percentage, the Discount Reserve
Percentage, the Dilution Reserve Percentage and the Servicer Fee Reserve Percentage. 
  
 “Aggregate Unpaids” means, at any time, an amount equal to the sum of all Capital and all other unpaid Obligations (whether due or accrued) at such time. 
  
 “Agreement” means this Amended and Restated
Receivables Purchase Agreement, as it may be amended or modified and in effect from time to time. 
  
 “Amortization Date” means the earliest to occur of (i) the day on which any of the conditions precedent set forth in Section
4.2 are not satisfied, (ii) the Business Day immediately prior to the occurrence of a Servicer Default set forth in Section 7.1(c), (iii) the Business Day specified in a written notice from the Administrative Agent following the
occurrence of any other Servicer Default, and (iv) the date which is 30 Business Days after the Co-Agents’ receipt of written notice from Seller that it wishes to terminate the facility evidenced by this Agreement. 
  

 48 

 “Applicable Margin” means the applicable rate per annum set forth under the
caption “Eurocurrency Spread” in the definition of “Applicable Rate” (as defined in the Yellow Roadway Credit Agreement). 
  
 “Asynchronous Accounting Period” means any period during which Roadway Express, Inc. employs accounting periods, generally 4
calendar weeks in length, established according to a 13-period annual accounting calendar. 
  
 “Bank One” has the meaning set forth in the preamble to this Agreement. 
  
 “Base Rate” means, with respect to each Group, a rate per annum equal to the higher of (i) the corporate base rate, prime rate or
base rate of interest, as applicable, announced by such Group’s Reference Bank from time to time, changing when and as such rate changes, and (ii) 1⁄2 of 1% above the Federal Funds Effective Rate, changing when and as such rate changes.

  
 “Blue Ridge” has the meaning set forth
in the preamble to this Agreement. 
  
 “Blue Ridge
Agent” has the meaning set forth in the preamble to this Agreement. 
  
 “Blue Ridge Committed Purchaser” means Wachovia in its individual capacity and its successors and assigns. 
  
 “Blue Ridge Fee Letter” means the fee letter dated as of May 21, 2004 by and between the Blue Ridge
Agent and the Seller, as the same may be amended, restated or otherwise modified from time to time. 
  
 “Blue Ridge Group” means, collectively, Blue Ridge, the Blue Ridge Agent and the Blue Ridge Committed Purchasers. 
  
 “Blue Ridge Liquidity Agreement” means the liquidity
asset purchase agreement dated as of May 21, 2004 by and among Blue Ridge, the Blue Ridge Agent and the Blue Ridge Committed Purchasers, as the same may be amended, restated or otherwise modified from time to time. 
  
 “Broken Funding Costs” means for any Receivable
Interest which: (i) in the case of any Pool-Funded Conduit, has its Capital reduced without compliance by the Seller with the notice requirements hereunder or, in the case of Three Pillars, has its Capital reduced on a date other than the last date
of the tranche period of the applicable Related Commercial Paper, or (ii) does not become subject to an Aggregate Reduction following the delivery of any Reduction Notice or (iii) is assigned under Article II or terminated prior to the date
on which it was originally scheduled to end; an amount equal to the excess, if any, of (A) the CP Costs or Discount (as applicable) that would have accrued during the remainder of the Tranche Periods or the tranche periods for Commercial Paper
determined by the applicable Co-Agent to relate to such Receivable Interest (as applicable) subsequent to the date of such reduction, assignment or 
  

 49 

 termination (or in respect of clause (ii) above, the date such Aggregate Reduction was designated to occur pursuant to
the Reduction Notice) of the Capital of such Receivable Interest if such reduction, assignment or termination had not occurred or such Reduction Notice had not been delivered, over (B) the sum of (x) to the extent all or a portion of such Capital is
allocated to another Receivable Interest, the amount of CP Costs or Discount actually accrued during the remainder of such period on such Capital for the new Receivable Interest, and (y) to the extent such Capital is not allocated to another
Receivable Interest, the income, if any, actually received during the remainder of such period by the holder of such Receivable Interest from investing the portion of such Capital not so allocated. In the event that the amount referred to in clause
(B) exceeds the amount referred to in clause (A), the relevant Purchaser or Purchasers agree to pay to the Seller the amount of such excess. All Broken Funding Costs shall be due and payable hereunder upon demand. 
  
 “Business Day” means any day on which banks are not
authorized or required to close in New York, New York or Chicago, Illinois and The Depository Trust Company of New York is open for business, and, if the applicable Business Day relates to any computation or payment to be made with respect to the
LIBOR Rate, any day on which dealings in dollar deposits are carried on in the London interbank market. 
  
 “Calculation Period” means, for the purposes of any calculation defined herein which references “Calculation Period”,
(i) during an Asynchronous Accounting Period, (A) in the case of any amounts used in such calculation derived from or associated with Receivables originated by Yellow Transportation, Inc., the calendar month designated in the table below and (B) in
the case of any amounts used in such calculation derived from or associated with Receivables originated by Roadway Express, Inc., the accounting period designated in the table below, it being understood that accounting period 8 and accounting
period 9 shall be treated as a single accounting period by averaging such amounts derived from these two periods, it being further understood that “Calculation Period” is a collective term referring to both component periods as
specified in (A) and (B) above and as indicated in the table below and the phrases “Calculation Period most recently ended” and “as of the last day of the Calculation Period most recently ended” refer collectively to both
respective component periods or the last day of both respective component periods (as the case may be) as specified in (A) and (B) above and as indicated in the table below, or (ii) at all other times, each calendar month: 
  

					
	 Calculation
 Period

	 	 Calendar
 Month

	 	 Accounting
 Period

	 1
	 	January	 	Period 1
	 2
	 	February	 	Period 2
	 3
	 	March	 	Period 3
	 4
	 	April	 	Period 4
	 5
	 	May	 	Period 5
	 6
	 	June	 	Period 6
	 7
	 	July	 	Period 7
	 8
	 	August	 	 Average of
 Period 8 &
 Period 9

	 9
	 	September	 	Period 9
	 10
	 	October	 	Period 10
	 11
	 	November	 	Period 11
	 12
	 	December	 	Period 12

  

 50 

 “Capital” of any Receivable Interest means, at any time, the Purchase Price of
such Receivable Interest (and after giving effect to any adjustments contemplated in Section 1.5), minus the sum of the aggregate amount of Collections and other payments received by the applicable Co-Agent which in each case are applied to reduce
such Capital in accordance with the terms of this Agreement; provided that such Capital shall be restored in the amount of any Collections or other payments so received and applied if at any time the distribution of such Collections or
payments are rescinded or must otherwise be returned or refunded for any reason. 
  
 “Change of Control” means (i) any Person or Persons acting in concert shall acquire beneficial ownership (within the meaning of Rule 13d-3 of the Securities and Exchange Commission under the
Securities Exchange Act of 1934) of 20% or more of the outstanding shares of voting stock of Yellow Roadway Corporation; or (ii) during any period of twelve (12) consecutive months, commencing before or after the date hereof, individuals who at the
beginning of such twelve-month period were directors of an Originator shall cease for any reason to constitute a majority of the board of directors of an Originator; or (iii) an Originator shall cease to own all of the outstanding shares of voting
stock of the Seller on a fully diluted basis; or (iv) Yellow Roadway Corporation shall cease to own all of the outstanding shares of voting stock of each Originator on a fully diluted basis. 
  
 “Co-Agent” has the meaning set forth in the preamble
to this Agreement. 
  
 “Collection
Account” means each concentration account, depositary account, lock-box account or similar account in which any Collections are collected or deposited. 
  
 “Collection Account Agreement” means, in the case of any actual or proposed Collection Account, an
agreement with a Collection Bank in substantially the form of Exhibit V hereto or in such other form as may be approved by the Administrative Agent. 
  
 “Collection Bank” means, at any time, any of the banks or other financial institutions holding one or more Collection Accounts.

  
 “Collection Notice” means a notice, in
substantially the form of the Collection Notice contained in Exhibit V hereto, from the Administrative Agent to a Collection Bank. 
  
 “Collections” means, with respect to any Receivable, all cash collections and other cash proceeds in respect of such Receivable,
including, without limitation, all cash proceeds of Related Security with respect to such Receivable. 
  
 “Commercial Paper” means promissory notes of a Conduit issued by such Conduit in the commercial paper market. 
  
 “Commitment” means, for each Committed Purchaser, the
commitment of such Committed Purchaser to purchase its Pro Rata Share of Receivable Interests offered to its Group 
  

 51 

 from the Seller, such Pro Rata Share not to exceed, in the aggregate, the amount set forth opposite such Committed
Purchaser’s name on the signature pages of this Agreement, as such amount may be modified in accordance with the terms hereof. 
  
 “Committed Purchasers” means the Three Pillars Committed Purchaser(s), the Blue Ridge Committed Purchaser(s) and the Falcon
Committed Purchaser(s). 
  
 “Concentration
Limit” means: 
  
 (a) for any
Obligor and its Affiliates considered as if they were one and the same Obligor, an amount equal to (i) 3.00%, multiplied by (ii) the aggregate Outstanding Balance of all Eligible Receivables at such time; 
  
 (b) at any time, for all Government Receivables, 5% of the
aggregate Outstanding Balance of all Eligible Receivables at such time; and 
  
 (c) at any time when neither a Level I Trigger Event nor a Level II Trigger Event exists and is continuing, for that portion of the Receivables representing Deferred Revenue, 15% of the aggregate Outstanding Balance
of all Eligible Receivables at such time, and at any other time, for that portion of the Receivables representing Deferred Revenue, 0% of the aggregate Outstanding Balance of all Eligible Receivables at such time; 
  
 provided, however, that: 
  
 (i) the Concentration Limit set forth in the preceding
clause (c) will automatically become zero (A) at all times while any Labor Action is pending, and (B) immediately following the threat of any Labor Action and for so long as any of the Agents reasonably believe(s) such threat is likely to be carried
out, and 
  
 (ii) the Administrative Agent may
from time to time designate other amounts (each, a “Special Concentration Limit”) for any Obligor or class of Receivables, it being understood and agreed that any of the Agents may, upon not less than three Business
Days’ notice to the Seller and the other Agents, cancel any Special Concentration Limit. 
  
 “CP Costs” means, for each day: 
  
 (a) with respect to a Pool-Funded Conduit, the sum of (i) discount accrued on such Pool-Funded Conduit’s Pooled Commercial Paper on such day, plus (ii) any and all accrued commissions in respect of such
Pool-Funded Conduit’s placement agents and Commercial Paper dealers, and issuing and paying agent fees incurred, in respect of such Pooled Commercial Paper for such day, plus (iii) other costs associated with funding by such Pool-Funded Conduit
of small or odd-lot amounts with respect to all receivable purchase facilities which are funded by such Pool-Funded Conduit’s Pooled Commercial Paper for such day, minus (iv) any accrual of income net of expenses received on such day from
investment of collections received under all receivable purchase facilities funded substantially with Pooled Commercial Paper of such Pool-Funded Conduit, minus (v) any payment received on such day net of expenses in respect of 
  

 52 

 Broken Funding Costs related to the prepayment of any Receivable Interest of such Pool-Funded Conduit pursuant to the
terms of any receivable purchase facilities funded substantially with Pooled Commercial Paper of such Pool-Funded Conduit. In addition to the foregoing costs, if Seller shall request any Incremental Purchase during any period of time determined by
such Pool-Funded Conduit’s Co-Agent in its sole discretion to result in incrementally higher CP Costs applicable to such Incremental Purchase, such Pool-Funded Conduit’s Capital associated with any such Incremental Purchase shall, during
such period, be deemed to be funded by such Pool-Funded Conduit in a special pool (which may include capital associated with other receivable purchase facilities) for purposes of determining such additional CP Costs applicable only to such special
pool and charged each day during such period against such Pool-Funded Conduit’s Capital; and 
  
 (b) with respect to Three Pillars, the sum of (i) discount accrued on its Related Commercial Paper on such day at the rate or, if more than one rate, the
weighted average of the rates, determined by converting to an interest-bearing equivalent rate per annum the discount rate (or rates) at which its Related Commercial Paper outstanding on such day has been or may be sold by any placement agent
or commercial paper dealer selected by the Three Pillars Agent, plus (ii) any and all accrued commissions and charges of placement agents and dealers, and issuing and paying agent fees incurred, in respect of such Related Commercial Paper for such
day. 
  
 “Credit and Collection Policy”
means the Seller’s credit and collection policies and practices relating to Invoices and Receivables existing on the date hereof and summarized in Exhibit VI hereto, as modified from time to time in accordance with this Agreement. It is
understood that the Credit and Collection Policy of the Seller in respect of any Receivable shall be the credit and collection policies of the Originators thereof. To the extent any Originator shall not have comprehensively reduced to writing its
credit and collection policies, the Credit and Collection Policy in respect of Receivables originated by such Originator shall be those credit and collection policies of such Originator in effect on the date hereof and disclosed to the Agents on or
prior to the date hereof. 
  
 “Days
Outstanding” means, at any time: (a) one-half of the sum of the beginning and ending Outstanding Balances of all Receivables during the Calculation Period most recently ended, multiplied by (b) the number of days in the Calculation
Period most recently ended divided by the aggregate amount payable pursuant to Invoices generated during the Calculation Period most recently ended. 
  
 “Deemed Collections” means the aggregate of all amounts the Seller shall have been deemed to have received as a Collection of a
Receivable. The Seller shall be deemed to have received: (A) a Collection of a Receivable in the amount of the reduction or cancellation if at any time the Outstanding Balance of any such Receivable is reduced or canceled either as a result of (x)
any defective or rejected goods or services, any discount or any adjustment or otherwise by Seller (other than cash Collections on account of the Receivables) or (y) any setoff in respect of any claim by any Person (whether such claim arises out of
the same or a related transaction or an unrelated transaction), and (B) a Collection in full of a Receivable if at any time any of the representations or warranties in Section 3.1 prove to have been untrue when made or deemed made with
respect to any Receivable. The Seller hereby agrees to pay all Deemed Collections immediately to the Servicer for application in accordance with the terms and conditions hereof. 
  

 53 

 “Default Rate” means the sum of (i) the Base Rate plus (ii) 2.0% per
annum. 
  
 “Default Ratio” means, at
any time, a fraction (expressed as a percentage) having (a) a numerator equal to the sum of (i) the Outstanding Balance of all Receivables that remained outstanding 151 to 180 days after their respective initial invoice dates as of the last day of
the Calculation Period most recently ended, plus (ii) the aggregate Outstanding Balance of Receivables that were written off as uncollectible during the Calculation Period most recently ended that, if not so written off, would have been outstanding
not more than 180 days after their respective invoice dates, and (b) a denominator equal to the aggregate amount payable pursuant to Invoices generated five (5) Calculation Periods prior to the Calculation Period most recently ended. 
  
 “Defaulted Receivable” means a Receivable: (i) as to
which any payment, or part thereof, remains unpaid for 151 days or more from the original invoice date for such payment; (ii) as to which the Obligor thereof has taken any action, or suffered any event to occur, of the type described in Section
7.1(c) (as if references to the Seller therein refer to such Obligor); (iii) as to which the Obligor thereof, if a natural person, is deceased; or (iv) which has been identified by the Seller as uncollectible. 
  
 “Deferred Revenue” means any Receivable which has
been booked as an asset on the applicable Originator’s balance sheet (prior to giving effect to any sale or contribution of such Receivable by such Originator to the Seller) but as to which delivery of the underlying goods has not yet been
completed in accordance with the Invoice or underlying purchase order. 
  
 “Delinquency Ratio” means, as of the last day of any calendar month, a percentage equal to (i) the aggregate Outstanding Balance of all Receivables that are then Delinquent Receivables, divided by (ii) the aggregate
Outstanding Balance of all Receivables as of such date. 
  
 “Delinquent Receivable” means a Receivable (other than a Defaulted Receivable) as to which any payment, or part thereof, remains unpaid for 121 days or more but less than 151 days from the original invoice date for
such payment. 
  
 “Dilution Horizon Ratio”
means, on any date of determination: (i) the aggregate amount of Receivables generated during the Calculation Period then most recently ended, divided by (ii) the Net Receivables Balance on such date. 
  
 “Dilution Ratio” means, as of the last day of any
calendar Calculation Period, a percentage equal to (i) the aggregate amount of Dilutions which occurred during such Calculation Period, divided by (ii) the aggregate amount of Receivables generated by the Originators during the Calculation Period
immediately prior to such Calculation Period. 
  
 “Dilution Reserve” means, on any date, an amount equal to (i) the Dilution Reserve Percentage, multiplied by (ii) the Net Receivables Balance as of the opening of business of the Servicer on such date. 
  

 54 

 “Dilution Reserve Percentage” means, on any date of determination, the greater of
(i) the Dilution Reserve Percentage Floor and (ii) the percentage determined pursuant to the following formula: 
  
 {(2.00 x ED) + [(DS - ED) x (DS/ED) ]} x DHR 
  
 where: 
  

			
	ED	 	= the Expected Dilution on such date;
	DS	 	= the Dilution Spike as of such date; and
	DHR	 	= the Dilution Horizon Ratio on such date.

  
  
  
 “Dilution Reserve Percentage Floor” means 6%.

  
 “Dilution Spike” means, on any date of
determination, the highest Dilution Ratio for any Calculation Period during the 12 Calculation Periods then most recently ended. 
  
 “Dilutions” means, at any time, the aggregate amount of reductions in or cancellations of the Outstanding Balances of the
Receivables described in clauses (A)(x) and (A)(y) of the definition of “Deemed Collections.” 
  
 “Discount” means for each respective Tranche Period relating to Receivable Interests of the Committed Purchasers, an amount equal
to the product of the applicable Discount Rate for each Receivable Interest multiplied by the Capital of such Receivable Interest for each day elapsed during such Tranche Period, annualized on a 360 day basis. 
  
 “Discount Rate” means the LIBOR Rate or the Base
Rate, as applicable, with respect to each Receivable Interest of the Committed Purchasers; provided that from and after the occurrence of a Servicer Default, the Discount Rate in respect of each Receivable Interest and Tranche Period
shall be the Base Rate. 
  
 “Discount
Reserve” means, on any date of determination, the amount determined pursuant to the following formula: 
  
 { (D + F) + [ (C x 1.5 x DR) x 2 x DSO ] } 
                                        
     360 
  
 where: 
  

			
	D	 	= the accrued and unpaid Discount for all Receivable Interests of the Purchasers as of the date of     determination;
	F	 	= the aggregate amount of accrued and unpaid Servicer Fees and other fees owing pursuant to the Fee     Letter as of the date of determination;
	C	 	= the aggregate Capital outstanding as of the date of determination;
	DR	 	= the highest Discount Rate applicable on the date of determination; and
	DSO	 	= the Days Outstanding.
	 	 	 
	 	 	 
	 	 	 

  
  
  
  

 55 

 “Discount Reserve Percentage” means, on any date of determination, a percentage
equal to (i) the Discount Reserve divided by (ii) the Net Receivables Balance. 
  
 “Eligible Receivable” means, at any time: 
  
 (i) a Receivable the Obligor of which (a) if a natural person, is a resident of the United States or, if a corporation or other business
organization, is organized under the laws of the United States or any political subdivision thereof and has its chief executive office in the United States, and (b) is not an Affiliate of any of the parties hereto, 
  
 (ii) a Receivable as to which no payment, or part thereof,
remains unpaid for 120 days or more from the original invoice date, and such Receivable is not a Defaulted Receivable, 
  
 (iii) a Receivable which arises under an Invoice that requires payment within 60 days after the original invoice date therefor and has not
had its payment terms extended, 
  
 (iv) a
Receivable which is an “account” within the meaning of Section 9-106 of the UCC of all applicable jurisdictions, 
  
 (v) a Receivable which is denominated and payable only in United States dollars in the United States, 
  
 (vi) a Receivable which arises under an Invoice in
substantially the form of one of the form invoices set forth on Exhibit VII hereto or otherwise approved by any Agent in writing, which, together with such Receivable, is in full force and effect and constitutes the legal, valid and binding
obligation of the related Obligor enforceable by the Seller and its assignees against such Obligor in accordance with its terms, 
  
 (vii) a Receivable which arises under an Invoice which (a) does not require the Obligor under such Invoice to consent to the transfer,
sale or assignment of the rights and duties of the applicable Originator or any of its assignees under such Invoice and (b) is not subject to a confidentiality provision that would have the effect of restricting the ability of any Agent or any
Purchaser to exercise its rights under this Agreement, including, without limitation, its right to review the Invoice, 
  
 (viii) a Receivable which arises under an Invoice that contains an obligation to pay a specified sum of money, 
  

 56 

 (ix) a Receivable which is not subject to any right of rescission, counterclaim, any
other defense (including defenses arising out of violations of usury laws) of the applicable Obligor or Originator or any other Adverse Claim, 
  
 (x) a Receivable as to which (A) at any time while any Labor Action is pending or threatened, the applicable Originator has satisfied and
fully performed all obligations on its part with respect to such Receivable required to be fulfilled by it, and no further action is required to be performed by any Person with respect thereto other than payment thereon by the applicable Obligor,
and (B) at any time while no such Labor Action is pending or threatened, a Receivable as to which the applicable Originator has commenced shipment of the underlying goods in accordance with the applicable Invoice or purchase order and no further
action is required to be performed by any Person with respect thereto other than the completion of shipment by such Originator and payment thereon by the applicable Obligor, 
  
 (xi) a Receivable all right, title and interest to and in which has been validly transferred by the
applicable Originator directly to the Seller under and in accordance with the Sale Agreement, and the Seller has good and marketable title thereto free and clear of any Adverse Claim, 
  
 (xii) a Receivable which, together with the Invoice related thereto, was created in compliance with each,
and does not breach any, law, rule or regulation applicable thereto (including, without limitation, any law, rule and regulation relating to truth in lending, fair credit billing, fair credit reporting, equal credit opportunity, fair debt collection
practices and privacy) and with respect to which no part of the Invoice related thereto is in violation of any such law, rule or regulation, 
  
 (xiii) a Receivable which satisfies all applicable requirements of the Credit and Collection Policy, 
  
 (xiv) a Receivable which was generated in the ordinary
course of the applicable Originator’s business in connection with the provision of shipping services for the applicable Obligor by such Originator, 
  
 (xv) that portion of a Receivable which arises solely from the sale of freight shipping and ancillary services to the related Obligor by
the applicable Originator (and not that portion which arises from the provision of services by an interline carrier), and such Originator shall have transferred such Receivable to the Seller, 
  
 (xvi) a Receivable as to which the Administrative Agent has
not notified the Seller that any Agent has determined that such Receivable or class of Receivables is not acceptable as an Eligible Receivable, including, without limitation, because such Receivable arises under an Invoice that is not acceptable to
such Agent, and 
  

 57 

 (xvii) a Receivable the Obligor of which is not the Obligor (or the Affiliate of an
Obligor) in respect of Receivables of which more than 50% of the aggregate Outstanding Balance is more than 120 days past their respective invoice dates. 
  
 “ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time. 
  
 “Expected Dilution” means, on any date of
determination, the average of the Dilution Ratios for the 12 Calculation Periods then most recently ended 
  
 “Facility Account” means the Seller’s Account No. 55-66681 at Bank One. 
  
 “Falcon” has the meaning set forth in the preamble to
this Agreement. 
  
 “Falcon Agent” has the
meaning set forth in the preamble to this Agreement. 
  
 “Falcon Committed Purchaser” means Bank One in its individual capacity and its successors and assigns. 
  
 “Falcon Fee Letter” means the fee letter dated as of May 21, 2004 by and among the Administrative Agent, the Falcon Agent and the
Seller, as the same may be amended, restated or otherwise modified from time to time. 
  
 “Falcon Group” means, collectively, Falcon, the Falcon Agent and the Falcon Committed Purchasers. 
  
 “Falcon Liquidity Agreement” means the liquidity asset purchase agreement dated as of May 21, 2004 by and among Falcon, the Falcon
Agent and the Falcon Committed Purchasers, as the same may be amended, restated or otherwise modified from time to time. 
  
 “Federal Funds Effective Rate” means, for any period, a fluctuating interest rate per annum equal for each day during such period
equal to (i) the weighted average of the rates on overnight federal funds transactions with members of the Federal Reserve System arranged by federal funds brokers, as published for such day (or, if such day is not a Business Day, for the preceding
Business Day) by the Federal Reserve Bank of New York in the Composite Closing Quotations for U.S. Governments Securities; or (ii) if such rate is not so published for any day which is a Business Day, the average of the quotations at approximately
10:30 a.m. (Chicago time) for such day on such transactions received by the Reference Bank from three federal funds brokers of recognized standing selected by it. 
  
 “Fee Letter” means the Blue Ridge Fee Letter, the Three Pillars Fee Letter or the Falcon Fee Letter.

  
 “Finance Charges” means, with respect
to an Invoice, any finance, interest, late payment charges or similar charges owing by an Obligor pursuant to such Invoice. 
  

 58 

 “Funding Agreement” means, as to any Conduit, its Liquidity Agreement and any
other agreement or instrument executed by any Funding Source with or for the benefit of such Conduit. 
  
 “Funding Source” means, as to any Conduit, (i) any of its Committed Purchasers or (ii) any insurance company, bank or other
financial institution providing liquidity, credit enhancement or back-up purchase support or facilities to such Conduit. 
  
 “Government Receivable” means a Receivable as to which the Obligor is the United States federal government, any political
subdivision thereof, or any agency of the foregoing. 
  
 “Group” means the Blue Ridge Group, the Three Pillars Group or the Falcon Group. 
  
 “Incremental Purchase” means a purchase of one or more Receivable Interests which increases the total outstanding Capital
hereunder. 
  
 “Intended Characterization”
means, for income tax purposes, the characterization of the acquisition by the Purchasers of Receivable Interests as a loan or loans by the Purchasers to the Seller secured by the Receivables, the Related Security, the Collection Accounts and the
Collections. 
  
 “Invoice” means,
collectively, with respect to any Receivable, any and all instruments, bills of lading, invoices or other writings which evidence such Receivable or the goods underlying such Receivable. 
  
 “Labor Actions” has the meaning set forth in Section 5.1(b)(vi). 
  
 “Level I Trigger Event” means the failure of Yellow
Roadway Corporation to maintain a Total Leverage Ratio (as defined in the Yellow Roadway Credit Agreement as in effect on September 10, 2004) or a Consolidated Fixed Charge Coverage Ratio (as defined in the Yellow Roadway Credit Agreement as in
effect on September 10, 2004) as set forth in the table below: 
  

			
	 TOTAL LEVERAGE RATIO

	 	 CONSOLIDATED FIXED CHARGE
 COVERAGE RATIO

	< 2.75 : 1.00 at any time between and including 9/10/04 and 12/31/05	 	> 2.25 : 1.00 for any Test Period (as defined in the Yellow Roadway Credit Agreement as in effect on 9/10/04) ending after 9/10/04 and on or prior to the fiscal year ending
12/31/05
		
	< 2.25 : 1.00 at any time thereafter	 	> 2.75 : 1.00 for any Test Period ending thereafter

  

 59 

 “Level II Trigger Event” means the failure of Yellow Roadway Corporation to
maintain a Total Leverage Ratio (as defined in the Yellow Roadway Credit Agreement as in effect on the date hereof) or a Consolidated Fixed Charge Coverage Ratio (as defined in the Yellow Roadway Credit Agreement as in effect on the date hereof) as
set forth in the table below. 
  

			
	 TOTAL LEVERAGE RATIO

	 	 CONSOLIDATED FIXED CHARGE
 COVERAGE RATIO

	< 3.50 : 1.00 at any time between and including 9/10/04 and 12/31/05	 	> 1.50 : 1.00 for any Test Period ending after 9/10/04 and on or prior to the fiscal year ending 12/31/05
		
	< 3.00 : 1.00 at any time thereafter	 	> 2.00 : 1.00 for any Test Period ending thereafter

  
 “LIBOR
Rate” means the rate per annum equal to the sum of (i)(a) the rate at which deposits in U.S. Dollars are offered by the Reference Bank to first-class banks in the London interbank market at approximately 11:00 a.m. (London time) two
Business Days prior to the first day of the relevant Tranche Period, such deposits being in the approximate amount of the Capital of the Receivable Interest to be funded or maintained, divided by (b) one minus the Reserve Requirement (expressed as a
decimal) applicable to such Tranche Period plus (ii) the Applicable Margin. The LIBOR Rate shall be rounded, if necessary, to the next higher 1/16 of 1%. 
  
 “Liquidity Agreement” means the Blue Ridge Liquidity Agreement, the Three Pillars Liquidity Agreement or the Falcon Liquidity
Agreement. 
  
 “Liquidity Termination
Date” means May 20, 2005 (or if such date is not a Business Day, the next preceding Business Day). 
  
 “Loss Reserve Percentage” means, on any date of determination, the greater of (i) 12.0%, and (ii) the percentage equal to (a)
2.00, multiplied by (b) the highest of the past twelve rolling 3-Calculation Period average Default Ratios, multiplied by (c) a fraction having a numerator equal to the aggregate amount of Receivables generated during the preceding 4 Calculation
Periods and denominator equal to the Net Receivables Balance on the date of determination. 
  
 “Mandatory Reduction Amount” has the meaning set forth in Section 1.5.6. 
  
 “Material Adverse Effect” means a material adverse effect on (i) the financial condition, business or operations of the Seller or
any Originator, (ii) the ability of the Seller or any Originator to perform its obligations under any Transaction Document, (iii) the legality, validity or enforceability of this Agreement, any Transaction Document or any Collection Account
Agreement or Collection Notice relating to a Collection Account into which a material portion of Collections are deposited, (iv) the Seller’s or any Purchaser’s interest in the 
  

 60 

 Receivables generally or in any significant portion of the Receivables, the Related Security or the Collections with
respect thereto, or (v) the collectibility of the Receivables generally or of any material portion of the Receivables. 
  
 “Monthly Report” means a report, in substantially the form of Exhibit VIII hereto (appropriately completed), furnished by the
Servicer to the Agents pursuant to Section 6.5. 
  
 “Net Receivables Balance” means, at any time, the aggregate Outstanding Balance of all Eligible Receivables at such time, reduced by the aggregate amount (without double-counting) by which the Outstanding Balance of
all Eligible Receivables of the types described in the definition of “Concentration Limit” exceed their applicable Concentration Limit. 
  
 “New Concentration Account” has the meaning set forth in Section 5.1(l). 
  
 “Obligations” shall have the meaning set forth in
Section 1.5.1. 
  
 “Obligor” means a
Person obligated to make payments pursuant to an Invoice. 
  
 “Originator” means either of (a) Yellow Transportation, Inc., an Indiana corporation, or (b) Roadway Express, Inc., a Delaware corporation. 
  
 “Outstanding Balance” of any Receivable at any time means the then outstanding principal balance
thereof, and shall exclude any interest or finance charges thereon, without regard to whether any of the same shall have been capitalized. 
  
 “Percentage” means 44.444444% for the Falcon Group, 27.77778% for the Three Pillars Group and 27.77778% for the Blue Ridge Group.
Notwithstanding the foregoing, for purposes of the initial Purchase after the effective date of this Agreement, the applicable Percentage for the Three Pillars Group shall be increased, and the applicable Percentages for the other two Groups shall
be decreased, such that after giving effect to such initial Purchase, the outstanding Capital from each Group shall be 44.444444% of aggregate Capital outstanding for the Falcon Group, and 27.77778% of aggregate Capital outstanding for each of the
Three Pillars Group and the Blue Ridge Group. 
  
 “Person” means an individual, partnership, corporation, limited liability company, association, trust, or any other entity, or organization, including a government or political subdivision or agent or instrumentality
thereof. 
  
 “Pool-Funded Conduit” means
each of Falcon and Blue Ridge. 
  
 “Pooled Commercial
Paper” means Commercial Paper notes of a Pool-Funded Conduit subject to any particular pooling arrangement by such Pool-Funded Conduit, but excluding Commercial Paper issued by a Pool-Funded Conduit for a tenor and in an amount
specifically requested by any Person in connection with any agreement effected by such Pool-Funded Conduit. 
  
 “Potential Servicer Default” means an event which, with the passage of time or the giving of notice, or both, would constitute a
Servicer Default. 
  

 61 

 “Pro Rata Share” means, for each Committed Purchaser, the Commitment of such
Committed Purchaser divided by its Group’s Percentage of the Purchase Limit, adjusted as necessary to give affect to the application of the terms of Section 2.5. 
  
 “Purchase” means an Incremental Purchase or a Reinvestment. 
  
 “Purchase Limit” means the aggregate of the
Commitments of the Committed Purchasers hereunder (which aggregate amount is $450,000,000 as of the date of this Agreement). 
  
 “Purchase Price” means, with respect to any Incremental Purchase, the least of: 
  
 (a) the amount of Capital requested by the Seller in the
applicable Purchase Notice, 
  
 (b) the remaining
unused portion of the Purchase Limit on the applicable purchase date, and 
  
 (c) the maximum amount by which the aggregate outstanding Capital could be increased such that after giving effect to such increase in Capital, the Net Receivables Balance will equal or exceed the product of (i) the
sum of 100% plus the Aggregate Reserve Percentage, times (ii) the aggregate outstanding Capital after giving effect to such Incremental Purchase. 
  
 “Purchaser” means a Conduit or a Committed Purchaser, as applicable. 
  
 “Receivable” means the indebtedness and other obligations owed (at the time it arises, and before
giving effect to any transfer or conveyance contemplated under the Sale Agreement or hereunder) to an Originator, whether constituting an account, chattel paper, instrument or general intangible, arising in connection with the provision of freight
shipping and ancillary services by such Originator and includes, without limitation, the obligation to pay any Finance Charges with respect thereto. Indebtedness and other rights and obligations arising from any one transaction, including, without
limitation, indebtedness and other rights and obligations represented by an individual Invoice, shall constitute a Receivable separate from a Receivable consisting of the indebtedness and other rights and obligations arising from any other
transaction. 
  
 “Receivable Interest”
means, at any time, an undivided percentage ownership interest associated with a designated amount of Capital selected pursuant to the terms and conditions hereof in (i) each Receivable arising prior to the time of the most recent computation or
recomputation of such undivided interest, (ii) all Related Security with respect to each such Receivable, and (iii) all Collections with respect to, and other proceeds of, each such Receivable. Such undivided percentage interest shall equal:

  
                 C                 
 NRB - (ARP x NRB) 
  
 where: 
  

			
	C	 	= the Capital of such Receivable Interest.
	ARP	 	= the Aggregate Reserve Percentage.
	NRB	 	= the Net Receivables Balance.

  
  
  

 62 

 Such undivided percentage ownership interest shall be initially computed on its date of purchase. Thereafter, until the
Amortization Date, each Receivable Interest shall be automatically recomputed (or deemed to be recomputed) on each day prior to the Amortization Date. The variable percentage represented by any Receivable Interest as computed (or deemed recomputed)
as of the close of the business day immediately preceding the Amortization Date shall remain constant at all times thereafter. 
  
 “Records” means, with respect to any Receivable, all Invoices and other documents, books, records and other information
(including, without limitation, computer programs, tapes, disks, punch cards, data processing software and related property and rights) relating to such Receivable, any Related Security therefor and the related Obligor. 
  
 “Reduction Notice” has the meaning set forth in
Section 1.3. 
  
 “Reference Bank” means,
with respect to each Group at any time, the bank that is then acting as its Co-Agent. 
  
 “Reinvestment” has the meaning set forth in Section 1.5.2. 
  
 “Related Commercial Paper” means, at any time, any Commercial Paper of Three Pillars issued or deemed issued for purposes of
financing or maintaining any Receivable Interest by Three Pillars (including any discount, yield, or interest thereon). 
  
 “Related Security” means, with respect to any Receivable: 
  
 (i) all of the Seller’s interest in the goods, the shipment of which gave rise to such Receivable, and
any and all insurance contracts with respect thereto, 
  
 (ii) all other security interests or liens and property subject thereto from time to time, if any, purporting to secure payment of such Receivable, whether pursuant to the Invoice related to such Receivable or otherwise, together with all
financing statements and security agreements describing any collateral securing such Receivable, 
  
 (iii) all guaranties, insurance and other agreements or arrangements of whatever character from time to time supporting or securing
payment of such Receivable whether pursuant to the Invoice related to such Receivable or otherwise, 
  
 (iv) all Records related to such Receivables, 
  
 (v) all of the Seller’s right, title and interest in, to and under the Sale Agreement and each bill of lading, instrument, document
or agreement executed in connection therewith in favor of or otherwise for the benefit of the Seller; and 
  
 (vi) all proceeds of any of the foregoing. 
  

 63 

 “Required Notice Period” means the number of days required notice set forth below
applicable to the Aggregate Reduction indicated below: 
  

			
	 Aggregate Reduction

	  	 Required Notice Period

	< or = $100,000,000	  	two Business Days
	> $100,000,000	  	five Business Days

  
 “Reserve
Requirement” means the maximum aggregate reserve requirement (including all basic, supplemental, marginal and other reserves) which is imposed against the Reference Bank in respect of Eurocurrency liabilities, as defined in Regulation D
of the Board of Governors of the Federal Reserve System as in effect from time to time. 
  
 “Restricted Junior Payment” means (i) any dividend or other distribution, direct or indirect, on account of any shares of any class of capital stock of the Seller now or hereafter outstanding,
except a dividend payable solely in shares of that class of stock or in any junior class of stock to an Originator, (ii) any redemption, retirement, sinking fund or similar payment, purchase or other acquisition for value, direct or indirect, of any
shares of any class of capital stock of the Seller now or hereafter outstanding, (iii) any payment or prepayment of principal of, premium, if any, or interest, fees or other charges on or with respect to, and any redemption, purchase, retirement,
defeasance, sinking fund or similar payment and any claim for rescission with respect to the Indebtedness evidenced by the Subordinated Note (as defined in the Sale Agreement), (iv) any payment made to redeem, purchase, repurchase or retire, or to
obtain the surrender of, any outstanding warrants, options or other rights to acquire shares of any class of capital stock of the Seller now or hereafter outstanding, and (v) any payment of management fees by the Seller. 
  
 “Sale Agreement” means that certain Receivables Sale
Agreement of even date herewith between the Seller, as purchaser, and the Originators, as sellers, as the same may be amended, restated, supplemented or otherwise modified from time to time. 
  
 “Section” means a numbered section of this Agreement,
unless another document is specifically referenced. 
  
 “Seller” has the meaning set forth in the preamble to this Agreement. 
  
 “Servicer” means at any time the Person (which may be one of the Agents) then authorized pursuant to Article VI to service,
administer and collect Receivables. 
  
 “Servicer
Default” has the meaning specified in Article VII. 
  
 “Servicer Fee” has the meaning specified in Section 1.9. 
  

 64 

 “Servicer Fee Reserve” means, on any date, an amount determined pursuant to the
following formula: 
  
 SFRP x NRB x 2 x DSO 
                         360

  
 where: 
  
 SFRP = the Servicer Fee Reserve Percentage as of the date of
determination; 
  
 NRB = the Net Receivables
Balance as of the opening of business of the Servicer on such date; and 
  
 DSO = the Days Outstanding on such date of determination. 
  
 “Servicer Fee Reserve Percentage” means 2% or such other percentage as may be agreed upon between the Administrative Agent and the Servicer as an arms-length rate for the Servicer Fee.

  
 “Settlement Date” means (A) except
during an Asynchronous Accounting Period, the 20th day of each month (or, if any such day is not a Business Day, the next succeeding Business Day), (B) during an Asynchronous Accounting Period, the 24th day of the month following the last day of
each such period (or, if any such day is not a Business Day, the next succeeding Business Day), and (C) the last day of the relevant Tranche Period in respect of each Receivable Interest of the Committed Purchasers. 
  
 “Settlement Period” means (A) in respect of each
Receivable Interest of a Conduit, the immediately preceding Accrual Period, and (B) in respect of each Receivable Interest of any Group’s Committed Purchasers, the entire Tranche Period of such Receivable Interest. 
  
 “Subsidiary” of a Person means (i) any corporation
more than 50% of the outstanding securities having ordinary voting power of which shall at the time be owned or controlled, directly or indirectly, by such Person or by one or more of its Subsidiaries or by such Person and one or more of its
Subsidiaries, or (ii) any partnership, limited liability company, association, joint venture or similar business organization more than 50% of the ownership interests having ordinary voting power of which shall at the time be so owned or controlled.
Unless otherwise expressly provided, all references herein to a “Subsidiary” shall mean a Subsidiary of the Seller. 
  
 “STCM” has the meaning set forth in the preamble to this Agreement. 
  
 “SunTrust” has the meaning set forth in the preamble to this Agreement. 
  
 “Terminating Tranche” has the meaning set forth in
Section 1.7.3(b). 
  
 “Three Pillars”
has the meaning set forth in the preamble to this Agreement. 
  
 “Three Pillars Agent” has the meaning set forth in the preamble to this Agreement. 
  

 65 

 “Three Pillars Committed Purchaser” means SunTrust in its individual capacity and
its successors and assigns. 
  
 “Three Pillars Fee
Letter” means the fee letter dated as of September 10, 2004 by and between the Three Pillars Agent and the Seller, as the same may be amended, restated or otherwise modified from time to time. 
  
 “Three Pillars Group” means, collectively, Three
Pillars, the Three Pillars Agent and the Three Pillars Committed Purchasers. 
  
 “Three Pillars Liquidity Agreement” means the liquidity asset purchase agreement dated as of September 10, 2004 by and among Three Pillars, the Three Pillars Agent and the Three Pillars
Committed Purchaser, as the same may be amended, restated or otherwise modified from time to time. 
  
 “Tranche Period” means, with respect to any Receivable Interest held by a Committed Purchaser: 
  
 (a) if Discount for such Receivable Interest is calculated
on the basis of the LIBOR Rate, a period of one, two, three or six months, or such other period as may be mutually agreeable to the applicable Co-Agent and Seller, commencing on a Business Day selected by Seller or the applicable Co-Agent pursuant
to this Agreement. Such Tranche Period shall end on the day in the applicable succeeding calendar month which corresponds numerically to the beginning day of such Tranche Period, provided, however, that if there is no such numerically corresponding
day in such succeeding month, such Tranche Period shall end on the last Business Day of such succeeding month; or 
  
 (b) if Discount for such Receivable Interest is calculated on the basis of the Base Rate, a period commencing on a Business Day selected
by Seller and agreed to by the applicable Co-Agent, provided no such period shall exceed one month. 
  
 If any Tranche Period would end on a day which is not a Business Day, such Tranche Period shall end on the next succeeding Business Day, provided, however, that in the case of Tranche Periods
corresponding to the LIBOR Rate, if such next succeeding Business Day falls in a new month, such Tranche Period shall end on the immediately preceding Business Day. In the case of any Tranche Period for any Receivable Interest of which commences
before the Amortization Date and would otherwise end on a date occurring after the Amortization Date, such Tranche Period shall end on the Amortization Date. The duration of each Tranche Period which commences after the Amortization Date shall be of
such duration as selected by the applicable Co-Agent. 
  
 “Transaction Documents” means, collectively, this Agreement, the Sale Agreement, the Fee Letters, the Liquidity Agreements, each Collections Notice and all other instruments, documents and agreements executed and
delivered by the Seller or any Originator in connection herewith. 
  

 66 

 “UCC” means the Uniform Commercial Code as from time to time in effect in the
specified jurisdiction. 
  
 “Wachovia” has
the meaning set forth in the preamble to this Agreement. 
  
 “Yellow Roadway Credit Agreement” has the meaning set forth in Section 7.1(h) of this Agreement. 
  
 All accounting terms not specifically defined herein shall be construed in accordance with generally accepted accounting principles. All terms used in
Article 9 of the UCC in the State of New York, and not specifically defined herein, are used herein as defined in such Article 9. 
  

 67 

 EXHIBIT II 
 CHIEF EXECUTIVE OFFICE OF THE SELLER; LOCATIONS OF RECORDS; 
 FEDERAL EMPLOYER IDENTIFICATION NUMBER
AND ORGANIZATIONAL 
 IDENTIFICATION NUMBER 
  

Chief Executive Office: 
  
 10990 Roe Avenue 
 Overland Park, KS 66211

  
 Location of Records: 
  
 10990 Roe Avenue 
 Overland Park, KS 66211 
  
 Federal Employer Identification Number: 
  
 Yellow Roadway Receivables Funding Corporation:             71-0966967 
  
 Organizational Identification Number (Delaware): 
  
 Yellow Roadway Receivables Funding Corporation:
            3794014 
  
 Trade Names and Assumed Names: 
  
 None (other than its
corporate name, Yellow Roadway Receivables Funding Corporation) 
  

 68 

 EXHIBIT III 
 LOCKBOXES; COLLECTION ACCOUNTS; 
 CONCENTRATION ACCOUNTS; AND DEPOSITARY ACCOUNTS 
  

							
	 TYPE OF ACCT.

	  	ACCOUNT #

	  	BANK NAME

	  	 CITY, STATE

	 YELLOW TRANSPORTATION, INC.

	 (f/k/a YELLOW FREIGHT SYSTEM, INC.)

				
	 Concentration
	  	3750962424	  	Bank of America	  	Dallas, TX
	
	 YELLOW ROADWAY RECEIVABLES FUNDING CORPORATION, INC.

	 -    CHANGED FROM ROADWAY FUNDING, INC.

				
	 Concentration / Lockbox
	  	11-02227	  	Bank One	  	Chicago, IL
	
	 YELLOW ROADWAY RECEIVABLES FUNDING CORPORATION, INC.

	 -    CHANGED FROM ROADWAY EXPRESS, INC.

				
	 ACH/Electronic Deposits
	  	872035497	  	Bank One	  	Columbus, Ohio
	 Merchant Card
	  	100160594	  	Bank One	  	Columbus, Ohio
	
	 YELLOW ROADWAY RECEIVABLES FUNDING CORPORATION, INC.

	 -    CHANGED FROM YELLOW RECEIVABLES CORPORATION

				
	 Driver Collect
	  	3750967393	  	Bank of America	  	Dallas, TX
	 Concentration / Lockbox
	  	3751433761	  	Bank of America	  	Dallas, TX
	 Concentration / Lockbox
	  	55-03450	  	Bank One	  	Chicago, IL
	 ACH & Electronic 820 Test
	  	10-54816	  	Bank One	  	Chicago, IL
	
	 ACCOUNT CLOSED

	 Collection
	  	3750962356	  	Bank of America	  	Dallas, TX

  

 69 

 EXHIBIT IV 
 FORM OF COMPLIANCE CERTIFICATE 
  

			
	To:	 	Bank One, NA (Main Office Chicago), as Falcon Agent and as Administrative Agent
	 	 	Wachovia Bank, National Association, as Blue Ridge Agent
	 	 	SunTrust Capital Markets, Inc., as Three Pillars Agent

  
 This Compliance
Certificate is furnished pursuant to that certain Amended and Restated Receivables Purchase Agreement dated as of September 10, 2004, among Yellow Roadway Receivables Funding Corporation (the “Seller”), the Purchasers party
thereto, Wachovia Bank, National Association, as Blue Ridge Agent, SunTrust Capital Markets, Inc., as Three Pillars Agent and Bank One, NA (Main Office Chicago), as Falcon Agent and as Administrative Agent (the “Agreement”).

  
 THE UNDERSIGNED HEREBY CERTIFIES THAT: 
  
 1. I am the duly elected
                             of the Seller; 
  
 2. I have reviewed the terms of the Agreement and I have made, or have caused
to be made under my supervision, a detailed review of the transactions and conditions of the Seller and its Subsidiaries during the accounting period covered by the attached financial statements; 
  
 3. The examinations described in paragraph 2 did not disclose, and I have no
knowledge of, the existence of any condition or event which constitutes a Servicer Default or Potential Servicer Default, as each such term is defined under the Agreement, during or at the end of the accounting period covered by the attached
financial statements or as of the date of this Certificate[, except as set forth below. 
  
 Described below are the exceptions, if any, to paragraph 3 by listing, in detail, the nature of the condition or event, the period during which it has existed and the action which the Seller has taken, is taking, or proposes to take with
respect to each such condition or event:] 
  
 The foregoing
certifications, together with the computations set forth in Schedule I hereto and the financial statements delivered with this Certificate in support hereof, are made and delivered this
             day of
                                . 
  

 70 

 SCHEDULE I TO COMPLIANCE CERTIFICATE 
  
 Schedule of Compliance with Section 7.1(i) of the Agreement. Unless otherwise defined herein, the terms used in this
Compliance Certificate have the meanings ascribed thereto in the Agreement. 
  
 This schedule relates to the month ended:                      
  

 71 

 EXHIBIT V 
 FORM OF COLLECTION ACCOUNT AGREEMENT 
  
 COLLECTION ACCOUNT AGREEMENT 
  
 May 21, 2004 
  
 Bank One, NA 
 1 Bank One Plaza 
 Chicago, IL 60670 
 Attention: Cheryl M. Bell 
  
 Re: Yellow Roadway Receivables Funding Corporation 
  
 Ladies and Gentlemen: 
  
 You have exclusive control of the P.O. Boxes (each a “Lock-Box” and collectively, the “Lock-Boxes”) and accounts (each an
“Existing Account” and collectively, the “Existing Accounts”) listed in Exhibit I for the purpose of receiving mail and/or processing payments pursuant to that certain lock-box services agreement (the “Agreement”) dated
June 1, 1994 between you and                         (the “Customer”). You hereby confirm your agreement to
perform the services described therein. Among the services you have agreed to perform therein is to endorse all checks and other evidences of payment, and credit such payments to an Existing Account maintained with you in the name of the Customer.

  
 We understand that Bank One, NA (as the
“Collection Bank”) and Bank One National Processing Corporation (“BONPC”) work together to provide services with respect to the Lock-Boxes. All references herein to “you” and “your” shall mean the Collection
Bank and BONPC, as applicable. 
  
 Customer hereby transfers
and assigns all of its right, title and interest in and to, and exclusive ownership and control over, the Lock-Boxes to Yellow Roadway Receivables Funding Corporation (“Seller”). Customer and Seller hereby request that from and after May
21, 2004, the Existing Accounts be re-titled in the name of Seller (so retitled, the “Collection Accounts”) for the purposes of that certain Receivables Purchase Agreement (the “Receivables Purchase Agreement”)
dated as of May 21, 2004 among Seller, as seller, Falcon Asset Securitization Corporation, as a conduit, Blue Ridge Asset Funding Corporation, as a conduit, the financial institutions from time to time a party thereto, as committed purchasers, and
Bank One, NA, as administrative agent (the “Agent”). 
  
 Customer and Seller hereby irrevocably instruct you, and you hereby agree, that from the date hereof, you shall comply with instructions originated by the Agent, directing disposition of the funds in the Collection Accounts without further
consent of the Customer or Seller. The Agent hereby authorizes you to take instructions from the Seller, on behalf of the Agent, with respect to the funds delivered to the Lock-Boxes and/or on deposit in the Collection Accounts until such time as
you receive notice from the Agent in the form attached hereto as Annex A. 
  

 72 

 We hereby irrevocably instruct you, and you hereby agree, that upon receiving notice from the Agent in
the form attached hereto as Annex A: (i) the name of the Collection Accounts will be changed to “Bank One, NA, for itself and as agent” (or any designee of Bank One) and the Agent will have exclusive ownership of and access to such
Collection Accounts, and neither we nor any of our affiliates will have any control of such Collection Accounts or any access thereto, (ii) you will either continue to send the funds from the Lock-Boxes to the Collection Accounts, or will redirect
the funds as the Agent may otherwise request, (iii) you will transfer monies on deposit in the Collection Accounts, at any time, as directed by the Agent, (iv) all services to be performed by you under the Agreement will be performed on behalf of
the Agent, and (v) all correspondence or other mail which you have agreed to send us will be sent to the Agent at the following address: 
  
 Bank One, NA, as Agent 
 Mail Code IL1-1729 
 1 Bank One Plaza 
 Chicago, Illinois 60670 
 Attention: Asset-Backed Finance 
  
 Moreover, upon such notice, the Agent will have all rights and remedies given to Customer or Seller under the Agreement. Each of Customer and Seller agrees, however, to continue to pay all fees and other assessments due thereunder at any
time. 
  
 You hereby acknowledge that monies deposited in the
Collection Accounts or any other account established with you by the Agent for the purpose of receiving funds from the Lock-Boxes are subject to the liens of the Agent for itself and as agent under the Receivables Purchase Agreement, and will not be
subject to deduction, set-off, banker’s lien or any other right you or any other party may have against Customer or Seller, except that you may debit the Collection Accounts for any items deposited therein that are returned or otherwise not
collected and for all charges, fees, commissions and expenses incurred by you in providing services hereunder, all in accordance with your customary practices for the charge back of returned items and expenses. 
  
 You hereby agree that (i) you are a “bank” within the meaning of
Section 9-102 of the Uniform Commercial Code as is in effect in the State of Illinois (the “UCC”), (ii) the Collection Accounts constitute “deposit accounts” within the meaning of Section 9-102 of the UCC and (iii) this letter
agreement shall constitute an “authenticated record” for purposes of Section 9-104 of the UCC. The Customer and Seller hereby grant to and confer upon the Agent “control” of the Lock-Boxes and Collection Accounts as contemplated
in Section 9-104 (and similar and related provisions) of the UCC. 
  
 You will be liable only for direct damages in the event you fail to exercise ordinary care. You shall be deemed to have exercised ordinary care if your action or failure to act is in conformity with general banking usages or is otherwise a
commercially reasonable practice of the banking industry. You shall not be liable for any special, indirect or consequential damages, even if you have been advised of the possibility of these damages. You will not be liable for any failure to
perform your obligations when the failure arises out of causes beyond your control, 
  

 73 

 including, without limitation, an act of a governmental regulatory/authority, an act of God, accident, equipment failure,
labor disputes or system failure, provided you have exercised such diligence as the circumstances require. 
  
 Nothing in this Agreement, unless otherwise agreed in writing, or any course of dealing between you, the Customer, the Seller or the Agent, commits or
obligates you to extend any overdraft or other credit to the Customer, the Seller or the Agent. 
  
 You or the Agent, upon thirty (30) days notice to the other parties, may terminate this Agreement. Any claim or cause of action of any party against any
other relating to this Agreement which existed at the time such termination becomes effective shall survive the termination. All mail received after the date specified in such notice of termination (the “Termination Date”) shall be
returned by you to the Agent by first class mail or such other means mutually agreeable to you and the Agent, and all funds received in the Collection Accounts after the Termination Date shall be sent by you to an account specified by the Agent.
Notwithstanding the foregoing, you acknowledge that monies deposited in the Collection Accounts after the Termination Date shall continue to be subject to the liens of the Agent for itself and as agent under the Receivables Purchase Agreement, and
will not be subject to deduction, set-off, banker’s lien or any other right you or any other party may have against Customer or Seller, except as otherwise provided in this letter agreement. 
  
 The Customer and Seller agree to indemnify you for, and hold you harmless
from, all claims, damages, losses, liabilities and expenses, including legal fees and expenses, resulting from or with respect to this Agreement and the administration and maintenance of the Collection Accounts and the services provided hereunder,
including, without limitation: (a) any action taken, or not taken, by you in regard thereto in accordance with the terms of this Agreement, (b) the breach of any representation or warranty made by the Seller pursuant to this Agreement, (c) any item,
including, without limitation, any automated clearinghouse transaction, which is returned for any reason, and (d) any failure of the Seller to pay any invoice or charge to you for services in respect to this Agreement and the Collection Accounts or
any amount owing to you from the Customer with respect thereto or to the service provided hereunder. 
  
 The parties acknowledge that you may assign or transfer your rights and obligations hereunder to a wholly-owned subsidiary of Bank One Corporation.

  
 This letter agreement and the rights and obligations of the
parties hereunder will be governed by and construed and interpreted in accordance with the laws of the State of Illinois. This letter agreement may be executed in any number of counterparts and all of such counterparts taken together will be deemed
to constitute one and the same instrument. 
  
 This letter
agreement contains the entire agreement between the parties, and may not be altered, modified, terminated or amended in any respect, nor may any right, power or privilege of any party hereunder be waived or released or discharged, except upon
execution by all parties hereto of a written instrument so providing. In the event that any provision in this letter agreement is in conflict with, or inconsistent with, any provision of the Agreement, this letter agreement will exclusively govern
and control. Each party agrees to take all actions reasonably requested by any other party to carry out the purposes of this letter agreement or to preserve and protect the rights of each party hereunder. 
  

 74 

 Please indicate your agreement to the terms of this letter agreement by signing in the space provided
below. This letter agreement will become effective immediately upon execution of a counterpart of this letter agreement by all parties hereto. 
  

			
	Very truly yours,
	  

		
	By:	 	  

	Name:	 	 
	Title:	 	 
	
	 YELLOW ROADWAY RECEIVABLES
 FUNDING
CORPORATION

		
	By:	 	  

	Name:	 	 
	Title:	 	 

  
 Acknowledged and agreed to

 this          day of May, 2004: 
  

			
	BANK ONE, NA, as Collection Bank
		
	By:	 	  

	Name:	 	 
	Title:	 	 
	
	 BANK ONE, NA (MAIN OFFICE CHICAGO),
 as
Agent

		
	By:	 	  

	Name:	 	 
	Title:	 	 

  

 75 

 EXHIBIT I 
  

LOCK-BOXES AND ACCOUNTS 
  

			
	Lock-Boxes	 	Accounts

  

 76 

 ANNEX A 
 FORM OF COLLECTION NOTICE 
  
 [ON LETTERHEAD OF THE AGENT] 
  
 [DATE] 
  
 [Collection Bank Name and Address] 
  
 Attention:                      
  
 Re:        [Seller] 
  
 Ladies and Gentlemen: 
  
 We hereby notify you that we are exercising our rights pursuant to that certain letter agreement among [Customer], [Seller],
you and us, to have the name of, and to have exclusive ownership and control of, the accounts numbered                      (the
“Collection Accounts”) maintained with you, transferred to
“                                       
 , as Agent.” [The Collection Account will henceforth be a zero-balance account, and funds deposited in the Collection Account should be sent at the end of each day to
                    ]. You have further agreed to perform all other services you are performing under that certain agreement dated
                     between you and [Customer] on our behalf. 
  
 We appreciate your cooperation in this matter. 
  

			
	Very truly yours,
	
	BANK ONE, NA, as Agent
		
	By:	 	  

	Name:	 	 
	Title:	 	 

  

 77 

 EXHIBIT VI 
 CREDIT AND COLLECTION POLICY 
  
 [See Exhibit IV to the Receivables Sale Agreement] 
  

 78 

 EXHIBIT VII 
 FORM OF INVOICE(S) 
  
 [attached] 
  

 79 

 EXHIBIT VIII 
  
 FORM OF MONTHLY REPORT 
  
 Yellow Roadway Receivables Funding Corporation 
  

					
	 A.     MONTHLY ACTIVITY
	  	 	  	 
	 a.      Beginning Receivables Balance (Ending Receivables Balance from the previous
period)
	  	 	  	 
	 b.      New Invoices (Gross Sales)
	  	 	  	 
	 c.      Cash Collections from Entire Portfolio
	  	 	  	 
	 d.      Total Dilution
	  	 	  	 
	 e.      Write-offs
	  	 	  	 
	 f.       Other adjustments
	  	 	  	 
	 	  	
	  	 
	 g.      Ending Receivables Balance (a+b-c-d-e-f)
	  	 	  	 
	 h.      Number of Days in the Month
	  	 	  	 
			
	 B.     ELIGIBLE RECEIVABLES
	  	 	  	 
	 a.      Accounts with over 50% of unpaid balances > 121 days past date of invoice
	  	 	  	 
	 b.      Due from foreign obligors
	  	 	  	 
	 c.      Non-US Dollar denominated receivables
	  	 	  	 
	 d.      Off - Bill Discounts
	  	 	  	 
	 e.      Overcharge Claims
	  	 	  	 
	 f.       Cargo Claims
	  	 	  	 
	 g.      Unapplied Cash
	  	 	  	 
	 h.      Due to Interlines
	  	 	  	 
	 i.       Inter-company Receivables
	  	 	  	 
	 j.       Receivables not already excluded > 121 days from date of invoice
	  	 	  	 
	 k.      Current Receivables in Collection Dept
	  	 	  	 
	 l.       Receivables with right of set-off (memo)
	  	 	  	 
	 m.     Contra Balances (Potential Offsets: Lesser of Receivable or Payable)
	  	 	  	 
	 n.      Miscellaneous
	  	 	  	 
	 	  	
	  	 
	 o.      Subtotal
	  	 	  	 
	 p.      Eligible Receivables (A.h - B.o)
	  	 	  	 
	 	  	 	  	

			
	 	  	Outstandings

	  	Excess

			
	 C.     NET RECEIVABLES BALANCE
	  	 	  	 
	 a.      US Government (not to exceed 5% of B.p)
	  	 	  	 
	 b.      Top Ten Obligors (no obligor to exceed 3% of B.p)
	  	 	  	 
	 1
	  	 	  	 
	 2
	  	 	  	 
	 3
	  	 	  	 
	 4
	  	 	  	 
	 5
	  	 	  	 
	 6
	  	 	  	 
	 7
	  	 	  	 
	 8
	  	 	  	 
	 9
	  	 	  	 
	 10
	  	 	  	 
	 Total Excess Concentration
	  	 	  	 
			
	 	  	Outstandings

	  	Excess

			
	 c.      Proportional Deferred Revenue (not to exceed 15% of Eligible Receivables)
	  	 	  	 
			
	 d.      Net Receivables Balance (B.p - C.a - C.b - C.c)
	  	 	  	 
	 	  	 	  	

  

 80 

									
	 D.     SERVICER FEE RESERVE
	  	 	  	 	  	 	  	 
	 a.      Servicer Percentage
	  	 	  	 	  	 	  	 
	 b.      Days Outstanding ((A.a + A.g)/2 x A.h/A.b)
	  	 	  	 	  	 	  	 
	 c.      Servicer Fee Reserve Percentage (a x b x 2 /360)
	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	

					
	 E.     DISCOUNT RESERVE
	  	 	  	 	  	 	  	 
	 a.      Accrued and Unpaid Discount
	  	 	  	 	  	 	  	 
	 b.      Accrued and Unpaid Fees Pursuant to the Fee Letter and Servicer Fees
	  	 	  	 	  	 	  	 
	 c.      Capital outstanding at Month End
	  	 	  	 	  	 	  	 
	 d.      Highest Discount Rate on a Receivable Interest
	  	 	  	 	  	 	  	 
	 e.      Days Outstanding (See D.b)
	  	 	  	 	  	 	  	 
	 f.       Discount Reserve ((a + b +(c x 1.5 x d x 2 x e)/360)
	  	 	  	 	  	 	  	 
	 g.      Discount Reserve Percentage (f/C.d)
	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	

					
	 	  	 	  	Dilution

	  	Sales 1
Mo Prior

	  	Dilution
Ratio

					
	 F.      DILUTION RESERVE
	  	 	  	 	  	 	  	 
	 a.      Dilution Ratio is Dilution over Sales 1 Month Prior
	  	 	  	 	  	 	  	 
	 b.      Expected Dilution = Average of last 12 Dilution Ratios
	  	 	  	 	  	 	  	 
	 c.      Dilution Spike is Highest of the last 12 Dilution Ratios
	  	 	  	 	  	 	  	 
	 d.      Sales of Current Month
	  	 	  	 	  	 	  	 
	 e.      Dynamic Dilution Reserve Percentage {[((2.00 x b) + (c - b) x (c/b)) x d]/C.d}
	  	 	  	 	  	 	  	 
	 f.       Dilution Reserve Percentage Floor
	  	 	  	 	  	 	  	 
	 g.      Dilution Reserve Percentage
	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	

					
	 	  	151 -180
Days Old

	  	Write-Offs

	  	Sales 5
Mos Prior

	  	Default
Ratio

	 G.     LOSS RESERVE
	  	 	  	 	  	 	  	 
	 a.      Default Ratio is Receivables 151-180 days old plus Write-offs of less than 151 days old
over
	  	 	  	 	  	 	  	 
	 b.      Highest of past 12 3-Month Rolling Average Default Ratios
	  	 	  	 	  	 	  	 
	 c.      Sales for most recent 4 Months
	  	 	  	 	  	 	  	 
	 d.      Dynamic Loss Reserve Percentage ((2.00 x b x c)/C.d)
	  	 	  	 	  	 	  	 
	 e.      Loss Reserve Percentage Floor
	  	 	  	 	  	 	  	 
	 f.       Loss Reserve Percentage
	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	

					
	 H.     AGGREGATE RESERVE PERCENTAGE
	  	 	  	 	  	 	  	 
	 a.      Sum of all Reserve % (D.c + E.g + F.g + G.f)
	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	

  

 81 

											
	 	  	121 -150
Days Old

	  	Total Rec.
Balance

	 	 	Delinquency
Ratio

	 	 	 
	 I.       DELINQUENCY RATIO
	  	 	  	 	 	 	 	 	 	 
	 Current Month
	  	 	  	 	 	 	 	 	 	 
	 1 Month Ago
	  	 	  	 	 	 	 	 	 	 
	 2 Months Ago
	  	 	  	 	 	 	 	 	 	 
	 a.      Average for most Recent 3 Months
	  	 	  	 	 	 	 	 	 	 
					
	 	  	 	  	Current

	 	 	Trigger

	 	 	Default?

	 J.      SERVICER DEFAULT TRIGGERS
	  	 	  	 	 	 	 	 	 	 
	 a.      3-Month Average Delinquency Ratio (See l.a)
	  	 	  	 	 	 	2.50	%	 	NO
	 b.      3-Month Average Dilution Ratio (See Combined)
	  	 	  	 	 	 	8.25	%	 	NO
	 c.      3-Month Average Default Ratio (See Combined)
	  	 	  	 	 	 	2.50	%	 	NO
	 d.      Aggregate Receivables Interest ((E.c/(C.d-H.c x C.d))
	  	 	  	 	 	 	100.00	%	 	NO
	 	  	 	  	
	
	 	 	 	 	 
					
	 K.     CAPITAL ADJUSTMENTS
	  	 	  	 	 	 	 	 	 	 
	 a.      Net Receivables Balance (See C.d)
	  	 	  	 	 	 	 	 	 	 
	 b.      Aggregate Reserve (H.a x K.a)
	  	 	  	 	 	 	 	 	 	 
	 	  	 	  	 	 	 	
	
	 	 
	 Maximum Supportable (a - b)
	  	 	  	450,000,000	 	 	 	 	 	 
	 Facility Limit
	  	 	  	 	 	 	 	 	 	 
	 c.      Maximum Funding; Lesser of Facility Limit or Maximum Supportable
	  	 	  	 	 	 	 	 	 	 
	 d.      Capital outstanding (See E.c) at Month End
	  	 	  	 	 	 	 	 	 	 
	 	  	 	  	 	 	 	 	 	 	

	 Falcon’s Share
	  	 	  	44.44	%	 	 	 	 	 
	 Blue Ridge’s Share
	  	 	  	27.78	%	 	 	 	 	 
	 Three Pillars’ Share
	  	 	  	27.78	%	 	 	 	 	 
	 e.      Available Funding (c - d if positive)
	  	 	  	 	 	 	 	 	 	 
	 f.       Funding Shortfall Owed to Falcon (c - d if negative)
	  	 	  	 	 	 	 	 	 	 
	 g.      Capital as of most recent Report - prior month ending
	  	 	  	 	 	 	 	 	 	 
	 h.      Capital Paydowns
	  	 	  	 	 	 	 	 	 	 
	 	  	 	  	 	 	 	
	
	 	 
	 i.       New Purchase Requested (no greater than K.e)
	  	 	  	 	 	 	 	 	 	 
	 	  	 	  	 	 	 	
	
	 	 
	 j.       Capital after Settlement (g - h + i)
	  	 	  	 	 	 	 	 	 	 
	 	  	 	  	 	 	 	
	
	 	

	 Falcon’s Share
	  	 	  	44.44	%	 	 	 	 	 
	 	  	 	  	 	 	 	
	
	 	 
	 Blue Ridge’s Share
	  	 	  	27.78	%	 	 	 	 	 
	 	  	 	  	 	 	 	
	
	 	 
	 Three Pillars’ Share
	  	 	  	27.78	%	 	 	 	 	 
	 	  	 	  	 	 	 	
	
	 	 
					
	 	  	 	  	 	 	 	$ Amount

	 	 	Percent

	 L.     RECEIVABLES AGING
	  	 	  	 	 	 	 	 	 	 
	 a.      Current Receivables
	  	 	  	 	 	 	 	 	 	 
	 b.      31 - 60 Days Old
	  	 	  	 	 	 	 	 	 	 
	 c.      61 - 90 Days Old
	  	 	  	 	 	 	 	 	 	 
	 d.      91 - 120 Days Old
	  	 	  	 	 	 	 	 	 	 
	 e.      121 - 150 Days Old
	  	 	  	 	 	 	 	 	 	 
	 f.       151 - 180 Days Old
	  	 	  	 	 	 	 	 	 	 
	 g.      181 + Days Old
	  	 	  	 	 	 	 	 	 	 
	 TOTAL
	  	 	  	 	 	 	 	 	 	 

  
 The undersigned hereby represents and
warrants to Bank One NA, as Administrative Agent, pursuant to the Receivables Purchase Agreement dated September 10, 2004 between Yellow Roadway Receivables Funding Corporation, Falcon Asset Securitization Corporation, Blue Ridge Asset Funding
Corporation, Three Pillars Funding LLC, the Financial Institutions party thereto and Bank One, as in effect on the date hereof, that the above information is accurate and complete 
 as of                     
  

			
		
	 By:
	 	 
		
	 Name:
	 	 
		
	 Title:
	 	 

  

 82 

 EXHIBIT IX 
 FORM OF PURCHASE NOTICE 
  
 [Date] 
  
 Bank One, NA (Main Office Chicago), as Falcon Agent

 1 Bank One Plaza, IL1-1729 
 Asset-Backed Finance 

Chicago, Illinois 60670-1729 
 Attention: Falcon Conduit
Administrator and John Kuhns 
  
 Wachovia Bank, National Association, as Blue
Ridge Agent 
 191 Peachtree Street, N.E. 
 22nd Floor, Mail Stop
GA-8088 
 Atlanta, Georgia 30303 
 Attention:
Eero Maki 
  
 SunTrust Capital Markets, Inc., as Three Pillars Agent 

303 Peachtree Street, 24th Floor 
 Mail Code 3950 
 Atlanta, GA 30308 
 Attention:
                                 
  
 Ladies and Gentlemen: 
  
 The undersigned, Yellow Roadway Receivables Funding Corporation, refers to the Amended and Restated Receivables Purchase
Agreement, dated as of September 10, 2004 (the “Receivables Purchase Agreement”, the terms defined therein being used herein as therein defined), among the undersigned, Falcon Asset Securitization Corporation
(“Falcon”), Three Pillars Funding LLC (“Three Pillars”), Blue Ridge Asset Funding Corporation (“Blue Ridge” and, together with Falcon and Three Pillars, the
“Conduits”), certain Committed Purchasers parties thereto, Wachovia Bank, National Association, as Blue Ridge Agent, SunTrust Capital Markets, Inc., as Three Pillars Agent, and Bank One, NA (Main Office Chicago), as Falcon
Agent and Administrative Agent, and hereby gives you notice, irrevocably, pursuant to Section 1.2 of the Receivables Purchase Agreement that the undersigned hereby requests an Incremental Purchase under the Receivables Purchase Agreement, and in
that connection sets forth below the information relating to such Incremental Purchase (the “Proposed Purchase”) as required by Section 1.2 of the Receivables Purchase Agreement: 
  
 (i) The Business Day of the Proposed Purchase is
                                . 
  
 (ii) The requested Purchase Price in respect of the Proposed
Purchase is $            , of which the Blue Ridge Group’s Percentage is 
  

 83 

 $            ; the Three Pillars
Group’s Percentage is $            ; and the Falcon Group’s Percentage is $            . 
  
 (iii) The requested Purchasers in respect of the Proposed
Purchase are the [Conduits] [Committed Purchasers]. 
  
 (iv) If the Proposed Purchase is to be funded by the Committed Purchasers, the duration of the initial Tranche Period for the Proposed Purchase is
                     [days] [months]. 
  
 (v) If the Proposed Purchase is to be funded by the Committed Purchasers, the Discount Rate related to such initial Tranche Period is
requested to be the [LIBOR] [Base] Rate. 
  
 The undersigned
hereby certifies that the following statements are true on the date hereof, and will be true on the date of the Proposed Purchase (before and after giving effect to the Proposed Purchase): 
  
 (A) the representations and warranties set forth in Section
3.1 [(other than Section 3.1(k)] of the Receivables Purchase Agreement are correct on and as of such date, as though made on and as of such date; 
  
 (B) no event has occurred, or would result from the Proposed Purchase that will constitute a Servicer Default, and no event has occurred
and is continuing, or would result from such Proposed Purchase, that would constitute a Potential Servicer Default; and 
  
 (C) the Liquidity Termination Date has not occurred, the aggregate Capital of all Receivable Interests of the Purchasers shall not exceed
the Purchase Limit and the aggregate Receivable Interests of the Purchasers does not exceed 100%. 
  

			
	Very truly yours,
	
	 YELLOW ROADWAY RECEIVABLES FUNDING
 CORPORATION

		
	By:	 	  

	Title:	 	 

  

 84 

 SCHEDULE A 
 DOCUMENTS AND RELATED ITEMS TO BE DELIVERED TO 
 THE ADMINISTRATIVE AGENT 
 ON OR PRIOR TO THE EFFECTIVENESS OF THE AMENDED AND RESTATED 
 RECEIVABLES PURCHASE AGREEMENT 
  
 I. Receivables Sale Agreement 
  
 A. Reliance
Letter in favor of SunTrust Capital Markets, Inc., SunTrust Bank and Three Pillars Funding LLC with respect to the Originators’ counsel’s bankruptcy, corporate and UCC opinions delivered in connection with the Receivables Sale Agreement in
May, 2004. 
  
 II. Receivables Purchase Agreement

  
 A. Amended and Restated Receivables Purchase Agreement dated
as of September 10, 2004 (the “Purchase Agreement”) by and among Yellow-SPC, Falcon Asset Securitization Corporation, Blue Ridge Asset Funding Corporation, Three Pillars Funding LLC, Wachovia Bank, National Association,
individually and as Blue Ridge Agent, SunTrust Bank, SunTrust Capital Markets, as Three Pillars Agent, and Bank One, NA, individually, as Falcon Agent and as Administrative Agent (in such capacity, the “Administrative
Agent”). 
  
 B. Three Pillars Fee Letter dated as of
September 10, 2004 by and between Yellow-SPC and the Three Pillars Agent. [Already drafted] 
  
 C. Certificate of Yellow-SPC’s [Assistant] Secretary certifying: 
  
 1. There has been no change in Yellow-SPC’s Certificate of Incorporation since the date of the Existing Agreement. 
  
 2. There has been no change in Yellow-SPC’s By-Laws
since the date of the Existing Agreement 
  
 3.
An attached copy of resolutions of Yellow-SPC’s Board of Directors authorizing Yellow-SPC’s execution, delivery and performance of the Purchase Agreement and related documents 
  
 4. The names, titles and specimen signatures of Yellow-SPC’s officers authorized to execute and deliver
the Purchase Agreement and related documents 
  
 5. Yellow-SPC continues to be in good standing in the States of Delaware and Kansas. 
  
 D. Purchase Notice executed by Yellow-SPC. 
  
 E. Opinion of Yellow-SPC’s counsel re: corporate/UCC issues 
  
 F. Yellow-SPC’s CFO’s Compliance Certificate. 
  

 85 

 G. Liquidity Agreement dated as of September 10, 2004 by and among Three Pillars, SunTrust Bank and STCM.

  
 H. Three Pillars S&P Opinion Certificate. 
  
 I. Three Pillars Liquidity Fee Letter between Three Pillars and SunTrust
Bank. 
  
 J. Amendment to Blue Ridge Liquidity Agreement
increasing the Maximum Liquidity Purchase thereunder. 
  
 K.
Letters from each of S&P and Moody’s confirming Three Pillars’ CP ratings. 
  

 86

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