Document:

Exhibit 4.5

 

 

CNH EQUIPMENT TRUST
2005-A

 

NH PURCHASE AGREEMENT

 

between

 

NEW
HOLLAND CREDIT COMPANY, LLC

 

and

 

CNH
CAPITAL RECEIVABLES LLC

 

Dated as of March 1, 2005

 

 

 

TABLE OF CONTENTS

 

	
  ARTICLE I

  	
  Certain Definitions

  	
   

  
	
  SECTION 1.1

  	
  Definitions

  	
   

  
	
  SECTION 1.2

  	
  Other Definitional
  Provisions

  	
   

  
	
   

  	
   

  	
   

  
	
  ARTICLE II

  	
  Conveyance of NH
  Receivables

  	
   

  
	
  SECTION 2.1

  	
  Conveyance of NH
  Purchased Contracts

  	
   

  
	
  SECTION 2.2

  	
  Conveyance of
  Subsequent NH Receivables

  	
   

  
	
  SECTION 2.3

  	
  Intention of the Parties

  	
   

  
	
  SECTION 2.4

  	
  The Closing

  	
   

  
	
  SECTION 2.5

  	
  Payment of the Purchase
  Price

  	
   

  
	
  SECTION 2.6

  	
  Cross-Collateralization

  	
   

  
	
   

  	
   

  	
   

  
	
  ARTICLE III

  	
  Representations and
  Warranties

  	
   

  
	
  SECTION 3.1

  	
  Representations
  and Warranties of CNHCR

  	
   

  
	
  SECTION 3.2

  	
  Representations
  and Warranties of NH Credit

  	
   

  
	
   

  	
   

  	
   

  
	
  ARTICLE IV

  	
  Conditions

  	
   

  
	
  SECTION 4.1

  	
  Conditions to
  Obligation of CNHCR

  	
   

  
	
  SECTION 4.2

  	
  Conditions to
  Obligation of NH Credit

  	
   

  
	
   

  	
   

  	
   

  
	
  ARTICLE V

  	
  Covenants of NH Credit

  	
   

  
	
  SECTION 5.1

  	
  Protection of
  Right, Title and Interest

  	
   

  
	
  SECTION 5.2

  	
  Other Liens or Interests

  	
   

  
	
  SECTION 5.3

  	
  Jurisdiction of
  Organization

  	
   

  
	
  SECTION 5.4

  	
  Costs and Expenses

  	
   

  
	
  SECTION 5.5

  	
  Indemnification

  	
   

  
	
  SECTION 5.6

  	
  Transfer of
  Subsequent NH Receivables

  	
   

  
	
  SECTION 5.7

  	
  Cross-Collateralization

  	
   

  
	
   

  	
   

  	
   

  
	
  ARTICLE VI

  	
  Miscellaneous Provisions

  	
   

  
	
  SECTION 6.1

  	
  Obligations of NH Credit

  	
   

  
	
  SECTION 6.2

  	
  Repurchase Events

  	
   

  
	
  SECTION 6.3

  	
  CNHCR Assignment
  of Repurchased Receivables

  	
   

  
	
  SECTION 6.4

  	
  Trust

  	
   

  
	
  SECTION 6.5

  	
  Amendment

  	
   

  
	
  SECTION 6.6

  	
  Accountants’ Letters

  	
   

  
	
  SECTION 6.7

  	
  Waivers

  	
   

  
	
  SECTION 6.8

  	
  Notices

  	
   

  
	
  SECTION 6.9

  	
  Costs and Expenses

  	
   

  
	
  SECTION 6.10

  	
  Representations
  of NH Credit and CNHCR

  	
   

  
	
  SECTION 6.11

  	
  Confidential Information

  	
   

  
	
  SECTION 6.12

  	
  Headings and
  Cross-References

  	
   

  
	
  SECTION 6.13

  	
  Governing Law

  	
   

  
	
  SECTION 6.14

  	
  Counterparts

  	
   

  
				

 

i

 

	
  SECTION 6.15

  	
  Information Requests

  	
   

  
	
  SECTION 6.16

  	
  Severability

  	
   

  
	
   

  	
   

  	
   

  
	
  EXHIBITS

  	
   

  
	
   

  	
   

  
	
  EXHIBIT A

  	
  Form of NH Assignment

  	
   

  
	
  EXHIBIT B

  	
  Form of
  NH Subsequent Transfer Assignment

  	
   

  
	
   

  	
   

  
	
  SCHEDULES

  	
   

  
	
   

  	
   

  
	
  SCHEDULE P

  	
  Perfection
  Representations and Warranties

  	
   

  
				

 

ii

 

NH
PURCHASE AGREEMENT (as amended or supplemented from
time to time, this “Agreement”)
dated as of March 1, 2005 between NEW HOLLAND CREDIT COMPANY,
LLC,
a Delaware limited liability company (“NH Credit”), and CNH CAPITAL RECEIVABLES LLC,
a Delaware limited liability company (“CNHCR”).

 

RECITALS

 

WHEREAS,
in the regular course of its business, NH Credit purchases, directly and indirectly,
from equipment dealers and brokers, and directly originates, Contracts; and

 

WHEREAS,
NH Credit and CNHCR wish to set forth the terms pursuant to which: (1) Contracts
having an aggregate Contract Value of approximately $72,427,381.30 and
identified on Schedule A to the NH Assignment (the “NH Purchased Contracts”)
as of Initial Cutoff Date and NH Credit’s right, title and interest in any True
Lease Equipment related to such Contracts are to be sold by NH Credit to CNHCR
on the date hereof and (2) certain Subsequent NH Receivables and NH Credit’s
right, title and interest in any True Lease Equipment related to such
Subsequent NH Receivables are to be sold by NH Credit to CNHCR from time to
time on each Subsequent Transfer Date; and

 

WHEREAS,
CNHCR as of the Initial Cutoff Date, owned Contracts previously purchased from
NH Credit pursuant to a Receivables Purchase Agreement dated as of December 15,
2000 (as amended from time to time, the “NH Liquidity Receivables Purchase
Agreement”),
between NH Credit and CNHCR, having an aggregate Contract Value of
approximately $249,488,165.62 and identified on Schedule A to the
Assignment (the “NH
Owned Contracts”,
and together with the NH Purchased Contracts, the “Initial NH Receivables”); and

 

WHEREAS,
the Initial NH Receivables and the Subsequent NH Receivables (collectively, the
“NH Receivables”),
the CNHCA Receivables and any True Lease Equipment related to such NH
Receivables or CNHCA Receivables will be transferred by CNHCR, pursuant to the
Sale and Servicing Agreement, to CNH Equipment Trust 2005-A (the “Trust”), which
Trust will issue Asset Backed Certificates representing non-assessable, fully
paid, fractional undivided interests in, and 3.08% Class A-1 Asset Backed
Notes, 3.64% Class A-2 Asset Backed Notes, 4.02% Class A-3 Asset
Backed Notes, floating rate Class A-4a Asset Backed Notes, 4.29% Class A-4b
Asset Backed Notes and 4.29% Class B Asset Backed Notes collateralized by,
the Receivables and the other property of the Trust; and

 

WHEREAS,
NH Credit and CNHCR wish to set forth herein certain representations,
warranties, covenants and indemnities of NH Credit with respect to the NH
Receivables for the benefit of CNHCR, the Trust, the Noteholders, any
Counterparty and the Certificateholders.

 

NOW, THEREFORE,
in consideration of the foregoing, other good and valuable consideration and
the mutual terms and covenants contained herein the parties hereto agree as
follows:

 

 

ARTICLE I

CERTAIN DEFINITIONS

 

SECTION 1.1 
Definitions.  Capitalized terms used herein and not
otherwise defined herein are defined in Appendix A to the Indenture dated as of
the date hereof between CNH Equipment Trust 2005-A and JPMorgan Chase Bank, as
Indenture Trustee.

 

SECTION 1.2 
Other Definitional Provisions.  (a)  All terms defined in this Agreement
shall have the defined meanings when used in any certificate or other document
made or delivered pursuant hereto unless otherwise defined therein.

 

(b)                                 As
used in this Agreement and in any certificate or other document made or
delivered pursuant hereto, accounting terms not defined in this Agreement or in
any such certificate or other document, and accounting terms partly defined in
this Agreement or in any such certificate or other document to the extent not
defined, shall have the respective meanings given to them under generally
accepted accounting principles as in effect on the date hereof.  To the extent that the definitions of
accounting terms in this Agreement or in any such certificate or other document
are inconsistent with the meanings of such terms under generally accepted
accounting principles, the definitions contained in this Agreement or in any
such certificate or other document shall control.

 

(c)                                  The
words “hereof”, “herein”, “hereunder” and words of similar import when used in
this Agreement shall refer to this Agreement as a whole and not to any
particular provision of this Agreement; Section, Schedule and Exhibit references
contained in this Agreement are references to Sections, Schedules and Exhibits
in or to this Agreement unless otherwise specified; and the term “including”
shall mean “including, without limitation,”.

 

(d)                                 The
definitions contained in this Agreement are applicable to the singular as well
as the plural forms of such terms and to the masculine as well as to the
feminine and neuter genders of such terms.

 

ARTICLE II

CONVEYANCE OF NH RECEIVABLES

 

SECTION 2.1 
Conveyance of NH Purchased
Contracts.  In
consideration of CNHCR’s payment of $321,915,546.92 (the “Initial NH Purchase Price”) in
the manner set out in Section 2.5(a),
NH Credit does hereby sell, transfer, assign, set over and otherwise convey to
CNHCR, without recourse (subject to the obligations herein), all of its right,
title, interest and, with respect to any Contracts that are Leases, obligations
in, to and under (collectively, the “Initial NH Assets”):

 

(i)  the NH
Purchased Contracts and the NH Owned Contracts, including all documents
constituting chattel paper included therewith, and all obligations of the
Obligors thereunder, including all moneys paid thereunder on or after the
Initial Cutoff Date;

 

2

 

(ii)  the security
interests in the Financed Equipment granted by Obligors pursuant to the NH Purchased Contracts and the NH
Owned Contracts and any other interest of NH Credit in such Financed Equipment;

 

(iii)  any proceeds
with respect to the NH Purchased
Contracts and the NH Owned Contracts from claims on insurance policies
covering Financed Equipment or Obligors;

 

(iv)  any proceeds
from recourse to Dealers with respect to the NH Purchased Contracts and the NH Owned Contracts other than any
interest in the Dealers’ reserve accounts maintained with NH Credit;

 

(v)  any Financed
Equipment that shall have secured the NH
Purchased Contracts and the NH Owned Contracts and that shall have been
acquired by or on behalf of CNHCR;

 

(vi)  any True Lease
Equipment that is subject to any NH
Purchased Contract or NH Owned Contract; and

 

(vii)  the proceeds
of any and all of the foregoing.

 

Insofar as the grant above relates to NH Owned
Contracts and related property, it is made for administrative convenience and
is not intended to derogate from the prior conveyance of the NH Owned Contracts
and related property pursuant to the NH Liquidity Receivables Purchase Agreement.

 

SECTION 2.2 
Conveyance of Subsequent NH
Receivables.  Subject to
the conditions set forth in Section 4.1(b), in consideration of CNHCR’s delivery on
the related Subsequent Transfer Date to or upon the order of NH Credit of the
related Subsequent NH Purchase Price pursuant to Section 2.5, NH Credit does
hereby sell, transfer, assign, set over and otherwise convey to CNHCR, without
recourse (subject to the obligations herein), all of its right, title, interest
and, with respect to any Contracts that are Leases, obligations in, to and
under (collectively, the “Subsequent NH Assets”; and together with the Initial NH
Assets, the “NH Assets”):

 

(i)  the Subsequent
NH Receivables listed on Schedule A to the related NH Subsequent Transfer
Assignment, including all documents constituting chattel paper included
therewith, and all obligations of the Obligors thereunder, including all moneys
paid thereunder on or after the related Subsequent Cutoff Date;

 

(ii)  the security
interests in the Financed Equipment granted by Obligors pursuant to such
Subsequent NH Receivables and any other interest of NH Credit in such Financed
Equipment;

 

(iii)  any proceeds
with respect to such Subsequent NH Receivables from claims on insurance
policies covering Financed Equipment or Obligors;

 

3

 

(iv)  any proceeds
with respect to such Subsequent NH Receivables from recourse to Dealers other
than any interest in the Dealers’ reserve accounts maintained with NH Credit;

 

(v)  any Financed
Equipment that shall have secured any such Subsequent NH Receivable and that
shall have been acquired by or on behalf of CNHCR;

 

(vi)  any True Lease
Equipment that is subject to any Subsequent NH Receivable; and

 

(vii)  the proceeds
of any and all of the foregoing.

 

SECTION 2.3 
Intention of the Parties.  The parties to this Agreement intend that the
transactions contemplated hereby shall be, and shall be treated as, a purchase
by CNHCR and a sale by NH Credit of the NH Purchased Contracts and the Subsequent
NH Receivables and any True Lease Equipment, in each case, related thereto, as
the case may be, and not as a lending transaction, so that in the event of a
filing of a petition for relief by or against NH Credit under the Bankruptcy
Code, (i) such NH Purchased Contracts, Subsequent NH Receivables and True
Lease Equipment would not be property of NH Credit’s bankruptcy estate under Section 541
of the Bankruptcy Code, (ii) the bankruptcy court would not compel the
turnover of such NH Purchased Contracts, Subsequent NH Receivables and True
Lease Equipment by CNHCR to NH Credit under Section 542 of the Bankruptcy
Code, and (iii) the bankruptcy court would determine that payments on the
NH Purchased Contracts, Subsequent NH Receivables and True Lease Equipment not
in the possession of NH Credit would not be subject to the automatic stay
provisions of Section 362(a) of the Bankruptcy Code imposed upon the
commencement of NH Credit’s bankruptcy case. The foregoing sale, assignment,
transfer and conveyance does not constitute, and is not intended to result in a
creation or assumption by CNHCR of, any obligation or liability with respect to
any NH Purchased Contract or any Subsequent NH Receivable, nor shall CNHCR be
obligated to perform or otherwise be responsible for any obligation of NH
Credit or any other Person in connection with the NH Purchased Contracts or the
Subsequent NH Receivables or under any agreement or instrument relating
thereto, including any contract or any other obligation to any Obligor, except
that CNHCR accepts any Contracts that are Leases subject to (and assumes) the
covenants benefiting the Obligors under such Leases.

 

If (but only to the extent) that the transfer of the
NH Assets hereunder is characterized by a court or other governmental authority
as a loan rather than a sale, NH Credit shall be deemed hereunder to have
granted to CNHCR a security interest in all of NH Credit’s right, title and
interest in and to the NH Assets.  Such
security interest shall secure all of NH Credit’s obligations (monetary or
otherwise) under this Agreement and the other Basic Documents to which it is a
party, whether now or hereafter existing or arising, due or to become due,
direct or indirect, absolute or contingent. 
CNHCR shall have, with respect to the property described in Section 2.1
and Section 2.2,
and in addition to all the other rights and remedies available to CNHCR under
this Agreement and applicable law, all the rights and remedies of a secured
party under any applicable UCC, and this Agreement shall constitute a security
agreement under applicable law.

 

4

 

SECTION 2.4 
The Closing.  The sale and purchase of the NH Purchased
Contracts shall take place at a closing at the offices of Mayer, Brown, Rowe &
Maw LLP, 190 South LaSalle Street, Chicago, Illinois 60603 on the Closing Date,
simultaneously with the closings under: (a) the CNHCA Purchase Agreement, (b) the
Sale and Servicing Agreement, (c) the Trust Agreement, (d) the
Administration Agreement and (e) the Indenture.

 

SECTION 2.5 
Payment of the Purchase Price.

 

(a)                                  NH Purchased Contracts.  The Initial NH Purchase Price is payable as
$321,915,546.92 in cash on the Closing Date.

 

(b)                                 Subsequent NH Receivables.  As consideration for the conveyance of
Subsequent NH Receivables pursuant to Section 2.2, CNHCR shall pay or cause to be paid to NH
Credit on each Subsequent Transfer Date an amount (a “Subsequent NH Purchase Price”) equal to the aggregate Contract Value
of the Subsequent NH Receivables as of the related Subsequent Cutoff Date, plus
any premium or minus any discount agreed upon by NH Credit and CNHCR.  Any Subsequent NH Purchase Price shall be
payable as follows: (i) cash in the amount released to CNHCR in respect of
the Subsequent NH Receivables from the Pre-Funding Account pursuant to Section 5.8(a) of
the Sale and Servicing Agreement shall be paid to NH Credit on the related
Subsequent Transfer Date; and (ii) the balance shall be paid in cash as
and when amounts are released to, or otherwise realized by, CNHCR from the
Spread Account, the Negative Carry Account, and the Principal Supplement
Account in accordance with the Sale and Servicing Agreement, or otherwise are
available for such purpose.

 

SECTION 2.6 
Cross-Collateralization.  To the extent NH Credit retains any interest
in any item of Financed Equipment securing the repayment of any NH Receivable,
as a result of the related Obligor agreeing to cross-collateralize all
obligations owed by such Obligor to NH Credit or otherwise, NH Credit
acknowledges and agrees that its interest in the Financed Equipment shall be
expressly subordinate and junior in priority to the repayment of all amounts
outstanding under such NH Receivable prior to becoming available to pay any
amount outstanding under any other obligation owed by such Obligor to NH
Credit.

 

ARTICLE III

REPRESENTATIONS AND WARRANTIES

 

SECTION 3.1 
Representations and Warranties of
CNHCR.  CNHCR hereby
represents and warrants to NH Credit as of the date hereof and as of the
Closing Date:

 

(a)                                  Organization and Good Standing.  CNHCR has been duly organized and is validly
existing as a limited liability company in good standing under the laws of the
State of Delaware, with the power and authority to own its properties and to
conduct its business as such properties are currently owned and such business
is presently conducted, and had at all relevant times, and has, the power and
authority to acquire, own and sell the NH Receivables.

 

5

 

(b)                                 Due Qualification.  CNHCR is duly qualified to do business as a
foreign limited liability company in good standing, and has obtained all
necessary licenses and approvals, in all jurisdictions in which the ownership
or lease of property or the conduct of its business shall require such
qualifications.

 

(c)                                  Power and Authority.  CNHCR has the power and authority to execute
and deliver this Agreement and to carry out its terms; and the execution,
delivery and performance of this Agreement have been duly authorized by CNHCR
by all necessary limited liability company action.

 

(d)                                 Binding Obligation.  This Agreement constitutes a legal, valid and
binding obligation of CNHCR enforceable against CNHCR in accordance with its
terms.

 

(e)                                  No Violation. 
The consummation of the transactions contemplated by this Agreement and
the fulfillment of the terms hereof do not conflict with, result in any breach
of any of the terms and provisions of, or constitute (with or without notice or
lapse of time) a default under, the certificate of formation, limited liability
company agreement or by-laws of CNHCR, or any indenture, agreement or other
instrument to which CNHCR is a party or by which it is bound; or result in the
creation or imposition of any Lien upon any of its properties pursuant to the
terms of any such indenture, agreement or other instrument (other than the Sale
and Servicing Agreement and the Indenture); or violate any law or, to the best
of CNHCR’s knowledge, any order, rule or regulation applicable to CNHCR of
any court or of any federal or State regulatory body, administrative agency or
other governmental instrumentality having jurisdiction over CNHCR or its
properties.

 

(f)                                    No Proceedings. 
There are no proceedings or investigations pending or, to CNHCR’s best
knowledge, threatened, before any court, regulatory body, administrative agency
or other governmental instrumentality having jurisdiction over CNHCR or its
properties: (i) asserting the invalidity of this Agreement, (ii) seeking
to prevent the consummation of any of the transactions contemplated by this
Agreement or (iii) seeking any determination or ruling that could
reasonably be expected to materially and adversely affect the performance by
CNHCR of its obligations under, or the validity or enforceability of, this
Agreement.

 

SECTION 3.2 
Representations and Warranties of
NH Credit.  (a)  NH
Credit hereby represents and warrants to CNHCR as of the date hereof and as of
the Closing Date:

 

(i)  Organization and Good Standing.  NH Credit has been duly organized and is
validly existing as a limited liability company in good standing under the laws
of the State of Delaware, with the power and authority to own its properties
and to conduct its business as such properties are currently owned and such
business is presently conducted, and had at all relevant times, and has, the
power and authority to acquire, own and sell the NH Receivables.

 

(ii)  Due Qualification.  NH Credit is duly qualified to do business as
a foreign limited liability company in good standing, and has obtained all
necessary licenses and

 

6

 

approvals, in all jurisdictions in which the ownership
or lease of property or the conduct of its business shall require such
qualifications.

 

(iii)  Power and Authority.  NH Credit has the power and authority to
execute and deliver this Agreement and to carry out its terms; NH Credit has
full power and authority to sell and assign the property to be sold and
assigned to CNHCR hereby and has duly authorized such sale and assignment to
CNHCR by all necessary limited liability company action; and the execution,
delivery and performance of this Agreement have been, and the execution,
delivery and performance of each NH Subsequent Transfer Assignment have been or
will be on or before the related Subsequent Transfer Date, duly authorized by
NH Credit by all necessary limited liability company action.

 

(iv)  Binding Obligation.  This Agreement constitutes, and each NH
Subsequent Transfer Assignment when executed and delivered by NH Credit will
constitute, a legal, valid and binding obligation of NH Credit enforceable
against NH Credit in accordance with their terms.

 

(v)  No Violation. 
The consummation of the transactions contemplated by this Agreement and
the fulfillment of the terms hereof do not conflict with, result in any breach
of any of the terms and provisions of, or constitute (with or without notice or
lapse of time) a default under, the certificate of formation, by-laws or
limited liability company agreement of NH Credit, or any indenture, agreement
or other instrument to which NH Credit is a party or by which it is bound; or
result in the creation or imposition of any Lien upon any of its properties
pursuant to the terms of any such indenture, agreement or other instrument
(other than this Agreement); or violate any law or, to the best of NH Credit’s
knowledge, any order, rule or regulation applicable to NH Credit of any
court or of any federal or State regulatory body, administrative agency or
other governmental instrumentality having jurisdiction over NH Credit or its
properties.

 

(vi)  No Proceedings. 
There are no proceedings or investigations pending, or to NH Credit’s
best knowledge, threatened, before any court, regulatory body, administrative
agency or other governmental instrumentality having jurisdiction over NH Credit
or its properties: (A) asserting the invalidity of this Agreement, (B) seeking
to prevent the consummation of any of the transactions contemplated by this
Agreement, or (C) seeking any determination or ruling that could
reasonably be expected to materially and adversely affect the performance by NH
Credit of its obligations under, or the validity or enforceability of, this
Agreement.

 

(b)                                 NH
Credit makes the following representations and warranties as to the NH
Receivables on which CNHCR relies in accepting the Initial NH Receivables and
the Subsequent NH Receivables and in transferring the NH Receivables to the
Trust.  Such representations and
warranties speak as of the execution and delivery of this Agreement and as of
the Closing Date, in the case of the Initial NH Receivables, and as of the
applicable Subsequent Transfer Date, in the case of the Subsequent NH
Receivables, but shall survive the sale, transfer and assignment of the NH
Receivables to CNHCR and the subsequent assignment and transfer of such NH
Receivables to the Trust pursuant to the Sale and Servicing Agreement and
pursuant to the Indenture:

 

7

 

(i)  Characteristics of NH Receivables.  Each NH Receivable: (A) (1) (i) was
originated in the United States of America by a Dealer in connection with the
retail sale or lease of Financed Equipment in the ordinary course of such
Dealer’s business, and (ii) was purchased by NH Credit from a Dealer and
validly assigned by such Dealer to NH Credit in accordance with its terms, or (2) was
originated in the United States of America by NH Credit in connection with the
financing or lease of Financed Equipment in the ordinary course of NH Credit’s
business and, in either case, was fully and properly executed by the parties
thereto, (B) has created a valid, subsisting and enforceable first
priority security interest in the Financed Equipment in favor of NH Credit
(except to the extent that such security interest has been assigned by NH
Credit to CNHCR, by CNHCR to the Issuer and by the Issuer to the Indenture
Trustee), except that (x) no security interest against the Obligor is
created in True Lease Equipment, and (y) NH Credit makes no representation
or warranty as to any such security interest granted by any Dealer to secure
the Dealer’s obligations to make payments in respect of Termination Values, (C) contains
customary and enforceable provisions such that the rights and remedies of the
holder thereof are adequate for realization against the collateral of the
benefits of the security, and (D) (i) in the case of Retail
Installment Contracts, provides for fixed payments on a periodic basis that
fully amortize the Amount Financed by maturity and yield interest at the Annual
Percentage Rate, and (ii) in the case of any Contracts sold, or to be
sold, hereunder that are Leases, provides for fixed payments on a periodic
basis that fully amortize the Amount Financed by maturity and yield interest at
the Annual Percentage Rate, except that any Contracts sold, or to be sold,
hereunder that are Leases also provide for payments of the related Termination
Values.

 

(ii)  Schedule of NH Receivables.  The information set forth on Schedule A
to the NH Assignment delivered on the Closing Date is true and correct in all
material respects as of the opening of business on the Initial Cutoff Date and
the information set forth on Schedule A to the related NH Subsequent
Transfer Assignment will be true and correct on each Subsequent Transfer Date
related to such NH Subsequent Transfer Assignment and no selection procedures
believed by NH Credit to be adverse to the interests of the Trust, the
Noteholders or the Certificateholders were or will be utilized in selecting the
NH Receivables.  The computer tape
regarding the NH Receivables made available to CNHCR and its assigns is true
and correct in all respects.

 

(iii)  Compliance with Law.  Each NH Receivable and the sale or lease of
the related Financed Equipment complied in all material respects at the time it
was originated or made and at the execution of this Agreement and each NH
Subsequent Transfer Assignment complies in all material respects with all
requirements of applicable federal, State and local laws and regulations thereunder,
including usury law, the Federal Truth-in-Lending Act, the Equal Credit
Opportunity Act, the Fair Credit Reporting Act, the Fair Debt Collection
Practices Act, the Federal Trade Commission Act, the Magnuson-Moss Warranty
Act, the Federal Reserve Board’s Regulations B and Z, State adaptations of the
National Consumer Act and of the Uniform Consumer Credit Code, and other
consumer credit laws and equal credit opportunity and disclosure laws.

 

8

 

(iv)  Binding Obligation.  Each NH Receivable represents the genuine,
legal, valid and binding payment obligation in writing of the Obligor,
enforceable by the holder thereof in accordance with its terms.

 

(v)  No Government Obligor.  None of the NH Receivables is due from the
United States of America or any State or from any agency, department or
instrumentality of the United States of America or any State.

 

(vi)  Security Interest in Financed Equipment.  Immediately prior to the sale, assignment and
transfer thereof, each NH Receivable shall be secured by a validly perfected
first priority security interest in the Financed Equipment in favor of NH
Credit as secured party or all necessary and appropriate actions have been
commenced that would result in the valid perfection of a first priority
security interest in the Financed Equipment in favor of NH Credit as secured
party, except that (A) no security interest against the Obligor is created
in True Lease Equipment and (B) NH Credit makes no representation or
warranty as to any security interest granted by any Dealer to secure the Dealer’s
obligations to make payments in respect of Termination Values.

 

(vii)  NH Receivables in Force.  No NH Receivable has been satisfied,
subordinated or rescinded, nor has any Financed Equipment been released from
the Lien granted by the related NH Receivable in whole or in part.

 

(viii)  No Amendment or Waiver.  No provision of a NH Receivable has been
waived, altered or modified in any respect, except pursuant to a document,
instrument or writing included in the Receivable Files and no such amendment,
waiver, alteration or modification causes such NH Receivable not to conform to
the other warranties contained in this Section.

 

(ix)  No Defenses. 
No right of rescission, setoff, counterclaim or defense has been
asserted or threatened or exists with respect to any NH Receivable.

 

(x)  No Liens.  To the best of NH Credit’s knowledge, no
Liens or claims, including claims for work, labor or materials, relating to any
of the Financed Equipment have been filed that are Liens prior to, or equal or
coordinate with, the security interest in the Financed Equipment granted by any
NH Receivable, except those pursuant to the Basic Documents.

 

(xi)  No Default.  No NH Receivable is a non-performing Receivable
or has a payment that is more than 90 days overdue as of the Initial Cutoff
Date or Subsequent Cutoff Date, as applicable, and, except for a payment
default continuing for a period of not more than 90 days, no default, breach, violation or event permitting
acceleration under the terms of any NH Receivable has occurred and is
continuing; and no continuing condition that with notice or the lapse of time
would constitute such a default, breach, violation or event permitting
acceleration under the terms of any NH Receivable has arisen; and NH Credit has
not waived and shall not waive any of the foregoing.

 

(xii)  Title.  It is the intention of NH Credit that the
transfers and assignments contemplated herein and in the NH Liquidity
Receivables Purchase Agreement constitute

 

9

 

a sale of the NH
Receivables from NH Credit to CNHCR and that the beneficial interest in and
title to the NH Receivables and any True Lease Equipment related to such NH
Receivables not be part of the debtor’s estate in the event of the filing of a
bankruptcy petition by or against NH Credit under any bankruptcy or similar
law.  No NH Receivable has been sold,
transferred, assigned or pledged by NH Credit to any Person other than
CNHCR.  Immediately prior to the
transfers and assignments contemplated herein and in the NH Liquidity
Receivables Purchase Agreement, NH Credit had good title to each NH Receivable
and any True Lease Equipment related to such NH Receivable, free and clear of
all Liens and, immediately upon the transfer thereof, CNHCR shall have good
title to each NH Receivable and any True Lease Equipment, free and clear of all
Liens; and the transfer and assignment of the NH Receivables to CNHCR has been
perfected under the UCC.

 

(xiii)  Lawful Assignment.  No NH Receivable has been originated in, or
is subject to the laws of, any jurisdiction under which the sale, transfer and
assignment of such NH Receivable or any NH Receivable under this Agreement, the
NH Liquidity Receivables Purchase Agreement, the Sale and Servicing Agreement
or the Indenture is unlawful, void or voidable.

 

(xiv)  All Filings Made.  All filings (including UCC filings) necessary
in any jurisdiction to give CNHCR a first priority perfected ownership interest
in the NH Receivables will be made on or prior to the Closing Date.

 

(xv)  One Original.  There is only one original executed copy of
each NH Receivable.

 

(xvi)  Insurance.  The Obligor on each NH Receivable is required
to maintain physical damage insurance covering the Financed Equipment and, in
the case of any Lease, public liability insurance relating to the use of such
Financed Equipment, in each case in accordance with NH Credit’s normal
requirements.

 

(xvii)  No Bankruptcies.  No Obligor on any NH Receivable as of the
Initial Cutoff Date or the Subsequent Cutoff Date, as applicable, was noted in
the related Receivable File as being the subject of a bankruptcy proceeding.

 

(xviii)  No Repossessions.  None of the Financed Equipment securing any
NH Receivable is in repossession status.

 

(xix)  Chattel Paper.  Each NH Receivable constitutes tangible “chattel
paper” as defined in the UCC of each State the law of which governs the
perfection of the interest granted in it and/or the priority of such perfected
interest.

 

(xx)  U.S.  Obligors.  None of the NH Receivables is denominated and
payable in any currency other than United States Dollars or is due from any
Person that does not have a mailing address in the United States of America.

 

(xxi)  Interest Accruing.  Each NH Receivable, other than those NH
Receivables consisting of Contracts that contain interest waivers for a
specified period of time, is, as

 

10

 

of the Closing Date or a
Subsequent Transfer Date, as applicable, accruing interest; no NH Receivable
contains an interest waiver extending more than 12 months after the Initial
Cutoff Date.

 

(xxii)  Leases.  Each Lease included in the Initial NH
Receivables or the Subsequent NH Receivables has a Termination Value less than
or equal to 10% of the purchase price of the equipment subject to such Lease
and is a “lease intended as security” (rather than a true lease) within the
meaning of Section 1-201(37) of the UCC.

 

(xxiii)  NH Credit’s
Representations.  The representations
and warranties of NH Credit contained in Section 3.2(a) are true
and correct.

 

(xxiv)  NH Credit’s
Obligations.  NH Credit has no
obligations under any Contract, other than the covenant of quiet enjoyment
benefiting the Obligors under any Contracts that are Leases.

 

(xxv)  No Either/or Leases.  No Lease included in the Initial NH
Receivables or the Subsequent NH Receivables is an Either/or Lease, and no
Financed Equipment transferred to CNHCR on the Closing Date or any Subsequent
Transfer Date, as the case may be, constitutes True Lease Equipment.

 

(xxvi)  No Leases.  Notwithstanding anything to the contrary in
the Basic Documents, none of the Initial NH Receivables or the Subsequent NH
Receivables shall be Leases.

 

(xxvii)  Perfection Representations.  NH Credit further makes all of the
representations, warranties and covenants set forth in Schedule P.

 

ARTICLE IV

CONDITIONS

 

SECTION 4.1 
Conditions to Obligation of CNHCR.

 

(a)                                  NH Purchased Contracts.  The obligation of CNHCR to purchase the NH Purchased
Contracts is subject to the satisfaction of the following
conditions:

 

(i)  Representations and Warranties True.  The representations and warranties of NH
Credit hereunder shall be true and correct on the Closing Date and NH Credit
shall have performed all obligations to be performed by it hereunder on or
prior to the Closing Date.

 

(ii)  Computer Files Marked.  NH Credit shall, at its own expense, on or
prior to the Closing Date, indicate in its computer files that NH Receivables
created in connection with the NH Purchased Contracts have been sold
to CNHCR pursuant to this Agreement and deliver to CNHCR the Schedule of
NH Receivables certified by the Chairman, the

 

11

 

President, a Vice
President or the Treasurer of NH Credit to be true, correct and complete.

 

(iii)  Documents To Be Delivered by NH Credit on the Closing Date.

 

(A)  The NH Assignment.  On the Closing Date (but only if the Contract
Value of the NH Purchased Contracts is greater than zero),
NH Credit will execute and deliver the NH Assignment, which shall be
substantially in the form of Exhibit A.

 

(B)  Evidence of UCC Filing.  On or prior to the Closing Date (but only if
the Contract Value of the NH Purchased Contracts is greater than zero), NH
Credit shall authorize and file, at its own expense, a UCC financing statement
in each jurisdiction in which such action is required by applicable law to
fully perfect CNHCR’s right, title and interest in the NH Purchased Contracts
and the other property sold hereunder, executed by NH Credit, as seller or
debtor, and naming CNHCR, as purchaser or secured party, describing the NH
Purchased Contracts and the other property sold hereunder, meeting the
requirements of the laws of each such jurisdiction and in such manner as is
necessary to perfect the sale, transfer, assignment and conveyance of such NH
Purchased Contracts and such other property to CNHCR.  It is understood and agreed, however, that no
filings will be made to perfect any security interest of CNHCR in NH Credit’s
interests in Financed Equipment.  NH
Credit shall deliver (or cause to be delivered) a file-stamped copy, or other
evidence satisfactory to CNHCR of such filing, to CNHCR promptly upon NH Credit’s
receipt thereof.

 

(C)  Other Documents. 
NH Credit will deliver such other documents as CNHCR may reasonably
request.

 

(iv)  Other Transactions.  The transactions contemplated by the Sale and
Servicing Agreement to be consummated on the Closing Date shall be consummated
on such date.

 

(b)                                 Subsequent NH Receivables.  The obligation of CNHCR to purchase any
Subsequent NH Receivables is subject to the satisfaction of the following
conditions on or prior to the related Subsequent Transfer Date:

 

(i)  NH Credit shall
have delivered to CNHCR a duly executed written assignment in substantially the
form of Exhibit B (the “NH Subsequent Transfer Assignment”),
which shall include supplements to the Schedule of NH Receivables listing
the Subsequent NH Receivables;

 

(ii)  NH Credit
shall, to the extent required by Section 5.2 of the Sale and Servicing
Agreement, have delivered to CNHCR for deposit in the Collection Account all
collections in respect of the Subsequent NH Receivables;

 

(iii)  as of such
Subsequent Transfer Date: (A) NH Credit was not insolvent and will not
become insolvent as a result of the transfer of Subsequent NH Receivables on

 

12

 

such Subsequent Transfer
Date, (B) NH Credit did not intend to incur or believe that it would incur
debts that would be beyond NH Credit’s ability to pay as such debts matured, (C) such
transfer was not made with actual intent to hinder, delay or defraud any Person
and (D) the assets of NH Credit did not constitute unreasonably small
capital to carry out its business as conducted;

 

(iv)  the applicable
Spread Account Initial Deposit and Principal Supplement Account Deposit, if
any, for such Subsequent Transfer Date shall have been made;

 

(v)  the Funding
Period shall not have terminated;

 

(vi)  each of the
representations and warranties made by NH Credit pursuant to Section 3.2(b) with
respect to the Subsequent NH Receivables shall be true and correct as of such
Subsequent Transfer Date, and NH Credit shall have performed all obligations to
be performed by it hereunder on or prior to such Subsequent Transfer Date;

 

(vii)  NH Credit
shall, at its own expense, on or prior to such Subsequent Transfer Date,
indicate in its computer files that the Subsequent NH Receivables identified in
the related NH Subsequent Transfer Assignment have been sold to CNHCR pursuant
to this Agreement and the NH Subsequent Transfer Assignment;

 

(viii)  NH Credit
shall take any action required to give CNHCR a first priority perfected
ownership interest in the Subsequent NH Receivables on or prior to the
applicable Subsequent Transfer Date;

 

(ix)  no selection
procedures believed by NH Credit to be adverse to the interests of CNHCR, the
Trust, the Noteholders or the Certificateholders shall have been utilized in
selecting the Subsequent NH Receivables;

 

(x)  the addition of the Subsequent NH Receivables
will not result in a material adverse tax consequence to CNHCR, the Trust, the
Noteholders or the Certificateholders;

 

(xi)  NH Credit shall have provided CNHCR a
statement listing the aggregate Contract Value of such Subsequent NH
Receivables and any other information reasonably requested by CNHCR with
respect to such Subsequent NH Receivables;

 

(xii)  all the conditions to the transfer of the
Subsequent NH Receivables to the Issuer specified in the Sale and Servicing
Agreement shall have been satisfied; and

 

(xiii)  NH Credit shall have delivered to CNHCR an
Officer’s Certificate confirming the satisfaction of each condition precedent
specified in this clause (b) (substantially in
the form attached hereto as Annex A to the NH Subsequent Transfer Assignment).

 

SECTION 4.2 
Conditions to Obligation of NH
Credit.  The obligation of
NH Credit to sell the NH Purchased Contracts and the Subsequent NH Receivables
to CNHCR is subject to the satisfaction of the following conditions:

 

13

 

(a)                                  Representations and Warranties True.  The representations and warranties of CNHCR
hereunder shall be true and correct on the Closing Date or the applicable
Subsequent Transfer Date with the same effect as if then made, and CNHCR shall
have performed all obligations to be performed by it hereunder on or prior to
the Closing Date or such Subsequent Transfer Date.

 

(b)                                 Receivables Purchase Price.  On the Closing Date or the applicable
Subsequent Transfer Date, CNHCR shall have delivered to NH Credit the portion
of the Initial NH Purchase Price or the Subsequent NH Purchase Price, as the
case may be, payable on the Closing Date or such Subsequent Transfer Date
pursuant to Section 2.5.

 

ARTICLE V

COVENANTS OF NH CREDIT

 

NH Credit agrees with CNHCR as follows; provided, however,
that to the extent that any provision of this Article conflicts with any
provision of the Sale and Servicing Agreement, the Sale and Servicing Agreement
shall govern:

 

SECTION 5.1 
Protection of Right, Title and
Interest.

 

(a)                                  Filings. 
NH Credit shall cause all financing statements and continuation
statements and any other necessary documents covering the right, title and
interest of CNHCR in and to the NH Receivables and the other property included
in the Trust Estate to be promptly filed, and at all times to be kept recorded,
registered and filed, all in such manner and in such places as may be required
by law fully to preserve and protect the right, title and interest of CNHCR
hereunder to the NH Receivables and the other property sold hereunder.  It is understood and agreed, however, that no
filings will be made to perfect any security interest of CNHCR in NH Credit’s
interests in Financed Equipment.  NH
Credit shall deliver (or cause to be delivered) to CNHCR file-stamped copies
of, or filing receipts for, any document recorded, registered or filed as
provided above as soon as available following such recordation, registration or
filing.  CNHCR shall cooperate fully with
NH Credit in connection with the obligations set forth above and will execute
any and all documents reasonably required to fulfill the intent of this
paragraph.

 

(b)                                 Name Change. 
Within 15 days after NH Credit makes any change in its name, identity or
organizational structure that would, could or might make any financing
statement or continuation statement filed in accordance with paragraph (a) seriously
misleading within the applicable provisions of the UCC or any title statute, NH
Credit shall give CNHCR notice of any such change, and no later than five days
after the effective date thereof, shall file such financing statements or
amendments as may be necessary to continue the perfection of CNHCR’s interest
in the property included in the Trust Estate.

 

(c)                                  Location
Change.  Within 15 days after NH
Credit makes any change to its “location” as defined in Section 9-307 of
the UCC, NH Credit shall give CNHCR notice of any such change, and no later
than five days after the effective date thereof, shall file such financing

 

14

 

statements or amendments as may be necessary to
continue the perfection of CNHCR’s interest in the property included in the
Trust Estate.

 

SECTION 5.2 
Other Liens or Interests.  Except for the conveyances hereunder and
pursuant to the NH Liquidity Receivables Purchase Agreement, the Sale and
Servicing Agreement, the Indenture and the other Basic Documents, NH Credit: (a) will
not sell, pledge, assign or transfer to any Person, or grant, create, incur,
assume or suffer to exist any Lien on, any interest in, to and under the NH
Receivables, and (b) shall defend the right, title and interest of CNHCR
in, to and under the NH Receivables against all claims of third parties claiming
through or under NH Credit; provided, however, that NH Credit’s obligations under this Section shall
terminate upon the termination of the Trust pursuant to the Trust Agreement.

 

SECTION 5.3 
Jurisdiction of Organization.  During the term of the NH Receivables, NH
Credit will maintain its “location” (as defined in Section 9-307 of the
UCC) in one of the States.

 

SECTION 5.4 
Costs and Expenses.  NH Credit agrees to pay all reasonable costs
and disbursements in connection with the perfection, as against all third
parties, of CNHCR’s right, title and interest in, to and under the NH
Receivables.

 

SECTION 5.5 
Indemnification.  NH Credit shall indemnify, defend and hold
harmless CNHCR for any liability as a result of the failure of a NH Receivable
to be originated in compliance with all requirements of law and for any breach
of any of its representations and warranties contained herein.  These indemnity obligations shall be in
addition to any obligation that NH Credit may otherwise have.  NH Credit shall indemnify, defend and hold
harmless CNHCR, the Issuer, the Trustee and the Indenture Trustee (and their
respective officers, directors, employees and agents) from and against any
taxes that may at any time be asserted against such Person with respect to the sale
of the NH Receivables to CNHCR hereunder or the sale of the NH Receivables to
the Issuer by CNHCR or the issuance and original sale of the Certificates and
the Notes, including any sales, gross receipts, general corporation, tangible
personal property, privilege or license taxes (but, in the case of CNHCR and
the Issuer, not including any taxes asserted with respect to ownership of the
NH Receivables or federal or other income taxes arising out of the transactions
contemplated by this Agreement) and costs and expenses in defending against the
same.

 

SECTION 5.6 
Transfer of Subsequent NH
Receivables.  NH Credit
covenants to transfer to CNHCR, pursuant to Section 2.2, Subsequent NH
Receivables with an aggregate Contract Value approximately equal to $501,963,786.66
minus the aggregate Contract Value of any Receivables sold to CNHCR by CNHCA
pursuant to Section 5.6 of the CNHCA Purchase Agreement, subject only to
the availability of such Subsequent NH Receivables.

 

SECTION 5.7 
Cross-Collateralization.  To the extent that NH Credit transfers,
sells, assigns or otherwise pledges any contract to a third party and such
third party retains any interest in any item of Financed Equipment securing the
repayment of any NH Receivable, as a result of the related Obligor agreeing to
cross-collateralize all obligations owed by such Obligor to NH Credit and its
assigns or otherwise, NH Credit acknowledges and agrees that it shall obtain
from such third party an agreement that such third party’s interest in the
Financed Equipment shall be

 

15

 

expressly subordinate and junior in priority to the
repayment of all amounts outstanding under such NH Receivable prior to becoming
available to pay any amount outstanding under any other obligation owed by such
Obligor to such third party.

 

ARTICLE VI

MISCELLANEOUS PROVISIONS

 

SECTION 6.1 
Obligations of NH Credit.  The obligations of NH Credit under this
Agreement shall not be affected by reason of any invalidity, illegality or
irregularity of any NH Receivable.

 

SECTION 6.2 
Repurchase Events.  NH Credit hereby covenants and agrees with
CNHCR for the benefit of CNHCR, the Indenture Trustee, the Noteholders, the
Trust, the Trustee and the Certificateholders that the occurrence of a breach of
any of NH Credit’s representations and warranties contained in Section 3.2(b),
shall constitute events obligating NH Credit to repurchase any NH Receivable
materially and adversely affected by any such breach (“Repurchase Events”) at the
Purchase Amount from CNHCR or from the Trust. 
Except as set forth in Section 5.5, the repurchase obligation of NH Credit
shall constitute the sole remedy of CNHCR, the Indenture Trustee, the
Noteholders, the Trust, the Trustee or the Certificateholders against NH Credit
with respect to any Repurchase Event.

 

SECTION 6.3 
CNHCR Assignment of Repurchased
Receivables.  With respect
to all NH Receivables repurchased by NH Credit pursuant to this Agreement,
CNHCR shall sell, transfer, assign, set over and otherwise convey to NH Credit,
without recourse, representation or warranty, all of CNHCR’s right, title and
interest in, to and under such NH Receivables, and all security and documents
relating thereto.

 

SECTION 6.4 
Trust.  NH Credit acknowledges and agrees that: (a) CNHCR
will, pursuant to the Sale and Servicing Agreement, sell the NH Receivables to
the Trust and assign its rights under this Agreement to the Trust, (b) the
Trust will, pursuant to the Indenture, assign such NH Receivables and such
rights to the Indenture Trustee and (c) the representations, warranties
and covenants contained in this Agreement and the rights of CNHCR under this
Agreement, including under Section 6.2, are intended to benefit the Trust, the
Certificateholders, the Counterparties and the Noteholders.  NH Credit hereby consents to all such sales
and assignments and agrees that enforcement of a right or remedy hereunder by
the Indenture Trustee shall have the same force and effect as if the right or
remedy had been enforced or executed by CNHCR.

 

SECTION 6.5 
Amendment.  This Agreement may be amended from time to
time, with prior written notice to the Rating Agencies, by a written amendment
duly executed and delivered by NH Credit and CNHCR, without the consent of the
Noteholders or the Certificateholders, to cure any ambiguity, to correct or
supplement any provisions in this Agreement or for the purpose of adding any
provisions to or changing in any manner or eliminating any of the provisions of
this Agreement or of modifying in any manner the rights of the Noteholders or
the Certificateholders; provided,
however, that such amendment will not, in the Opinion of Counsel,
materially and adversely affect the interest of any Noteholder or
Certificateholder.

 

16

 

This Agreement may also be amended from time to time
by NH Credit and CNHCR, with prior written notice to the Rating Agencies, with
the written consent of (x) Noteholders holding Notes evidencing at least a
majority of the Note Balance and (y) the Holders of Certificates evidencing at
least a majority of the Certificate Balance, for the purpose of adding any
provisions to or changing in any manner or eliminating any of the provisions of
this Agreement or of modifying in any manner the rights of the Noteholders or
the Certificateholders; provided,
however, that no such amendment may: (i) increase or reduce in
any manner the amount of, or accelerate or delay the timing of, collections of
payments on NH Receivables or distributions that are required to be made for
the benefit of the Noteholders or the Certificateholders or (ii) reduce
the aforesaid percentage of the Notes and Certificates that are required to
consent to any such amendment, without the consent of the holders of all the
outstanding Notes and Certificates.

 

It shall not be necessary for the consent of
Certificateholders or Noteholders pursuant to this Section to approve the
particular form of any proposed amendment or consent, but it shall be
sufficient if such consent shall approve the substance thereof.  

 

Notwithstanding anything herein or in any of the Basic
Documents to the contrary, any term or provision of this Agreement may be
amended by NH Credit and CNHCR without the consent of the Certificateholders,
the Noteholders or any other Person to add, modify or eliminate any provisions
as may be necessary or advisable in order to comply with or obtain more
favorable treatment under or with respect to any law or regulation or any
accounting rule or principle (whether now or in the future in effect); it
being a condition to any such amendment that the Rating Agency Condition shall
have been satisfied.

 

SECTION 6.6 
Accountants’ Letters.  (a) A firm of independent certified
public accountants will review the characteristics of the Receivables described
in the Schedule of Receivables and will compare those characteristics to
the information with respect to the Receivables contained in the Prospectus, (b) NH
Credit will cooperate with CNHCR and such accounting firm in making available
all information and taking all steps reasonably necessary to permit such
accounting firm to complete the review set forth in clause
(a) and to deliver the letters required of them under the
Underwriting Agreement, (c) such accounting firm will deliver to CNHCR a
letter, dated the date of the Prospectus, in the form previously agreed to by
CNHCA, NH Credit and CNHCR, with respect to the financial and statistical
information contained in the Prospectus and with respect to such other
information as may be agreed in the form of the letter.

 

SECTION 6.7 
Waivers.  No failure or delay on the part of CNHCR in
exercising any power, right or remedy under this Agreement, the NH Assignment
or any NH Subsequent Transfer Assignment shall operate as a waiver thereof, nor
shall any single or partial exercise of any such power, right or remedy
preclude any other or further exercise thereof or the exercise of any other
power, right or remedy.

 

SECTION 6.8 
Notices.  All demands, notices and communications under
this Agreement shall be in writing, personally delivered or mailed by certified
mail, return receipt requested, and shall be deemed to have been duly given
upon receipt: (a) in the case of NH Credit, to New Holland Credit Company,
LLC, 33 South Railroad Avenue, New Holland, Pennsylvania 17557-1728, Attention:
Finance Manager (telephone (717) 355-3091); with a copy to Senior

 

17

 

Finance Counsel; (b) in the case of CNHCR, to CNH
Capital Receivables LLC, 100 South Saunders Road, Lake Forest, Illinois 60045,
Attention: Assistant Treasurer (telephone (847) 735-9200); (c) in the case
of the Rating Agencies, at their respective addresses set forth in Section 10.3
of the Sale and Servicing Agreement; or, as to each of the foregoing, at such
other address as shall be designated by written notice to the other parties

 

SECTION 6.9 
Costs and Expenses.  NH Credit will pay all expenses incident to
the performance of its obligations under this Agreement and NH Credit agrees to
pay all reasonable out-of-pocket costs and expenses of CNHCR, excluding fees
and expenses of counsel, in connection with the perfection as against third
parties of CNHCR’s right, title and interest in, to and under the NH
Receivables and the enforcement of any obligation of NH Credit hereunder.

 

SECTION 6.10 
Representations of NH Credit and
CNHCR.  The respective
agreements, representations, warranties and other statements by NH Credit and
CNHCR set forth in or made pursuant to this Agreement shall remain in full
force and effect and will survive the closing under Section 2.4.

 

SECTION 6.11 
Confidential Information.  CNHCR agrees that it will neither use nor
disclose to any Person the names and addresses of the Obligors, except in
connection with the enforcement of CNHCR’s rights hereunder, under the NH
Receivables, under the Sale and Servicing Agreement or the Indenture or any
other Basic Document or as required by any of the foregoing or by law.

 

SECTION 6.12 
Headings and Cross-References.  The various headings in this Agreement are
included for convenience only and shall not affect the meaning or
interpretation of any provision of this Agreement.  References in this Agreement to Section names
or numbers are to such Sections of this Agreement unless otherwise expressly
indicated.

 

SECTION 6.13 
Governing Law.  This Agreement, the NH Assignment, and each
NH Subsequent Transfer Assignment shall be construed in accordance with the
laws of the State of New York, without reference to its conflict of law
provisions, and the obligations, rights and remedies of the parties hereunder
or thereunder shall be determined in accordance with such laws.

 

SECTION 6.14 
Counterparts.  This Agreement may be executed in two or more
counterparts and by different parties on separate counterparts, each of which
shall be an original, but all of which together shall constitute but one and
the same instrument.

 

SECTION 6.15 
Information Requests.  The parties hereto shall provide any
information reasonably requested by the other party or any of their Affiliates,
at the expense of such party, as applicable, in order to comply with or obtain
more favorable treatment under any current or future law, rule, regulation,
accounting rule or principle.

 

18

 

SECTION 6.16  Severability.  Any provision of this Agreement that is
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.

 

(signature page follows)

 

19

 

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

 

	
   

  	
  CNH CAPITAL RECEIVABLES LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  BRIAN O'KEANE

  	
   

  
	
   

  	
   

  	
  Name: Brian O'Keane

  
	
   

  	
   

  	
  Title: Assistant Treasurer

  

 

 

	
   

  	
  NEW HOLLAND CREDIT COMPANY, LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  BRIAN O'KEANE

  	
   

  
	
   

  	
   

  	
  Name: Brian O'Keane

  
	
   

  	
   

  	
  Title: Assistant Treasurer

  

 

S-1

 

EXHIBIT A

to NH Purchase Agreement

 

FORM OF

NH ASSIGNMENT

 

For value received, in accordance with and subject to
the NH Purchase Agreement dated as of March 1, 2005 (the “NH Purchase Agreement”)
between the undersigned and CNH Capital Receivables LLC (“CNHCR”), the undersigned does hereby sell,
assign, transfer, set over and otherwise convey unto CNHCR, without recourse,
all of its right, title, interest and, with respect to any Contracts that are
Leases, obligations in, to and under: (a) the NH Purchased Contracts,
which are listed on Schedule A
hereto, including all documents constituting chattel paper included therewith,
and all obligations of the Obligors thereunder, including all moneys paid
thereunder on or after the Initial Cutoff Date, (b) the security interests
in the Financed Equipment granted by Obligors pursuant to the NH Purchased
Contracts and any other interest of the undersigned in such Financed Equipment,
(c) any proceeds with respect to the NH Purchased Contracts from claims on
insurance policies covering Financed Equipment or Obligors, (d) any
proceeds from recourse to Dealers with respect to the NH Purchased Contracts
other than any interest in the Dealers’ reserve accounts maintained with NH
Credit, (e) any Financed Equipment that shall have secured the NH
Purchased Contracts and that shall have been acquired by or on behalf of CNHCR,
(f) any True Lease Equipment that is subject to any NH Purchased Contract,
and (g) the proceeds of any and all of the foregoing.  The foregoing sale does not constitute and is
not intended to result in any assumption by CNHCR of any obligation (other than
the covenant of quiet enjoyment benefiting the Obligors under any Contracts
that are Leases) of the undersigned to the Obligors, insurers or any other
person in connection with the NH Purchased Contracts, Receivables Files, any insurance
policies or any agreement or instrument relating to any of them.

 

This NH Assignment is made pursuant to and upon the
representations, warranties and agreements on the part of the undersigned
contained in the NH Purchase Agreement and is to be governed in all respects by
the NH Purchase Agreement.

 

Capitalized terms used herein and not otherwise
defined shall have the meanings assigned to them in the NH Purchase Agreement.

 

A-1

 

IN WITNESS WHEREOF, the undersigned has caused this NH
Assignment to be duly executed as of March 1, 2005.

 

	
   

  	
  NEW HOLLAND CREDIT COMPANY, LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

A-2

 

EXHIBIT B

to NH Purchase Agreement

 

FORM OF

NH SUBSEQUENT TRANSFER ASSIGNMENT

 

For value received, in accordance with and subject to
the NH Purchase Agreement dated as of March 1, 2005 (the “NH Purchase Agreement”)
between New Holland Credit Company LLC, a Delaware limited liability company (“NH Credit”), and
CNH Capital Receivables LLC, a Delaware limited liability company (“CNHCR”), NH
Credit does hereby sell, transfer, assign, set over and otherwise convey to
CNHCR, without recourse, all of its right, title, interest and, with respect to
any Contracts that are Leases, obligations in, to and under: (a) the
Subsequent NH Receivables, with an aggregate Contract Value equal to $         ,
listed on Schedule A
hereto, including all documents constituting chattel paper included
therewith, and all obligations of the Obligors thereunder, including all moneys
paid thereunder on or after the Subsequent Cutoff Date, (b) the security
interests in the Financed Equipment granted by Obligors pursuant to such
Subsequent NH Receivables and any other interest of NH Credit in such Financed
Equipment, (c) any proceeds with respect to such Subsequent NH Receivables
from claims on insurance policies covering Financed Equipment or Obligors, (d) 
any proceeds from recourse to Dealers with respect to such Subsequent NH
Receivables other than any interest in the Dealers’ reserve accounts maintained
with NH Credit, (e) any Financed Equipment that shall have secured any
such Subsequent NH Receivables and that shall have been acquired by or on
behalf of CNHCR, (f) any True Lease Equipment that is subject to any
Subsequent NH Receivable, and (g) the proceeds of any and all of the
foregoing.  The foregoing sale does not
constitute and is not intended to result in any assumption by CNHCR of any
obligation (other than the covenant of quiet enjoyment benefiting the Obligors
under any Contracts that are Leases) of NH Credit to the Obligors, insurers or
any other person in connection with such Subsequent NH Receivables, Receivable
Files, any insurance policies or any agreement or instrument relating to any of
them.

 

This NH Subsequent Transfer Assignment is made
pursuant to and upon the representations, warranties and agreements on the part
of NH Credit contained in the NH Purchase Agreement (including the Officer’s
Certificate of NH Credit accompanying this Agreement) and is to be governed in
all respects by the NH Purchase Agreement.

 

Capitalized terms used but not otherwise defined
herein shall have the meanings assigned to them in the NH Purchase Agreement.

 

B-1

 

IN WITNESS WHEREOF, the undersigned has caused this NH
Subsequent Transfer Assignment to be duly executed as of the       
day of                   ,
2005.

 

	
   

  	
  NEW HOLLAND CREDIT COMPANY, LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

B-2

 

SCHEDULE A

to NH Subsequent Transfer Assignment

 

SCHEDULE OF SUBSEQUENT NH RECEIVABLES

 

[See attached
list]

 

 

ANNEX
A

to NH Subsequent Transfer Assignment

 

OFFICER’S CERTIFICATE

 

I, the undersigned officer of New Holland Credit
Company, LLC (the “Company”),
do hereby certify, pursuant to Section 4.1(b)(xiii) of the NH Purchase Agreement dated as of March 1,
2005 among the Company, and CNH Capital Receivables LLC (the “NH Purchase Agreement”),
that (i) all of the conditions precedent to the transfer to CNHCR of the
Subsequent NH Receivables listed on Schedule A to the NH Subsequent
Transfer Assignment delivered herewith, and the other property and rights
related to such Subsequent NH Receivables as described in Section 2.2 of the NH Purchase Agreement, have been
satisfied on or prior to the related Subsequent Transfer Date and (ii) each
statement of fact set forth in any officer’s certificate executed by an officer
of the Company in connection with an Opinion of Counsel delivered on the
Closing Date with respect to a transfer of, or a security interest in, the NH
Receivables shall be true and correct as of the date hereof with respect to the
Subsequent NH Receivables listed on the aforementioned Schedule A.

 

Capitalized terms used but not defined herein shall
have the meanings assigned to such terms in the NH Purchase Agreement.

 

IN WITNESS WHEREOF, the undersigned have caused this
certificate to be duly executed this 1st day of March, 2005.

 

	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  

 

 

SCHEDULE P

 

1.                                       General.  The NH Purchase Agreement creates, or with
respect to the NH Receivables that are Subsequent Receivables upon the transfer
of such Subsequent Receivables pursuant to the Subsequent Transfer Assignment
will create, a valid and continuing security interest (as defined in the
applicable UCC) in the NH Receivables in favor of CNHCR, which, (a) is
enforceable upon execution of the NH Purchase Agreement against creditors of
and purchasers from NH Credit, as such enforceability may be limited by
applicable debtor relief laws, now or hereafter in effect, and by general
principles of equity (whether considered in a suit at law or in equity), and (b) upon
filing of the financing statements described in clause 4 below will be prior to
all other Liens (other than Liens permitted pursuant to clause 5 below).

 

2.                                       General.  The NH Receivables constitute “tangible
chattel paper” within the meaning of UCC Section 9-102.  NH Credit has taken all steps necessary to
perfect its security interest against the Obligor in the Financed Equipment
securing the NH Receivables.

 

3.                                       Creation.  Immediately prior to the conveyance of the NH
Receivables pursuant to the NH Purchase Agreement, NH Credit owns and has good
and marketable title to, or has a valid security interest in, the NH
Receivables free and clear of any Lien, claim or encumbrance of any Person.

 

4.                                       Perfection.  NH Credit has caused or will have caused,
within ten days of the Closing Date, the filing of all appropriate financing
statements in the proper filing office in the appropriate jurisdictions under
applicable law in order to perfect the security interest granted to CNHCR under
the NH Purchase Agreement in the NH Receivables.  With respect to the NH Receivables that
constitute tangible chattel paper, NH Credit has in its possession the original
copies of such tangible chattel paper that constitute or evidence the NH
Receivables, and NH Credit has caused, or will have caused within ten days of
the effective date of the NH Agreement, the filing of financing statements
against NH Credit in favor of CNHCR in connection herewith describing such NH
Receivables and containing a statement that: “A purchase of or security
interest in any collateral described in this financing statement will violate
the rights of the Secured Party/Buyer.”

 

5.                                       Priority.  Other than the security interests granted to
CNHCR pursuant to the NH Purchase Agreement and the NH Liquidity Receivables
Purchase Agreement, NH Credit has not pledged, assigned, sold, granted a
security interest in, or otherwise conveyed any of the NH Receivables.  NH Credit has not authorized the filing of
and is not aware of any financing statements against NH Credit that include a
description of collateral covering the NH Receivables other than any financing
statement (i) relating to the security interests granted to CNHCR under
the NH Purchase Agreement and the NH Liquidity Receivables Purchase Agreement, (ii) that
has been terminated, or (iii) that has been granted pursuant to the terms
of the Basic Documents.  None of the
tangible chattel paper that constitutes or evidences the NH Receivables has any
marks or notations indicating that they have pledged, assigned or otherwise
conveyed to any Person other than the Indenture Trustee.Exhibit 4.6

 

 

CNH EQUIPMENT
TRUST 2005-A

 

 

ADMINISTRATION
AGREEMENT

 

among

 

CNH EQUIPMENT TRUST 2005-A,

as Issuer,

 

and

 

CNH CAPITAL AMERICA LLC,

as
Administrator,

 

and

 

JPMORGAN CHASE BANK, N.A.

as Indenture
Trustee.

 

Dated as of March 1,
2005

 

 

 

TABLE OF
CONTENTS

 

	
  1.

  	
  DUTIES OF THE ADMINISTRATOR

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  (a)

  	
  Duties with Respect to the Indenture and the
  Depository Agreement

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  (b)

  	
  Duties with Respect to the Trust

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  (c)

  	
  Non-Ministerial Matters

  	
   

  
	
   

  	
   

  	
   

  
	
  2.

  	
  RECORDS

  	
   

  
	
   

  	
   

  	
   

  
	
  3.

  	
  COMPENSATION

  	
   

  
	
   

  	
   

  	
   

  
	
  4.

  	
  ADDITIONAL INFORMATION TO BE
  FURNISHED TO THE ISSUER

  	
   

  
	
   

  	
   

  	
   

  
	
  5.

  	
  INDEPENDENCE OF THE
  ADMINISTRATOR

  	
   

  
	
   

  	
   

  	
   

  
	
  6.

  	
  NO JOINT VENTURE

  	
   

  
	
   

  	
   

  	
   

  
	
  7.

  	
  OTHER ACTIVITIES OF THE
  ADMINISTRATOR

  	
   

  
	
   

  	
   

  	
   

  
	
  8.

  	
  TERM OF AGREEMENT; RESIGNATION
  AND REMOVAL OF THE ADMINISTRATOR

  	
   

  
	
   

  	
   

  	
   

  
	
  9.

  	
  ACTION UPON TERMINATION,
  RESIGNATION OR REMOVAL

  	
   

  
	
   

  	
   

  	
   

  
	
  10.

  	
  NOTICES

  	
   

  
	
   

  	
   

  	
   

  
	
  11.

  	
  AMENDMENTS

  	
   

  
	
   

  	
   

  	
   

  
	
  12.

  	
  SUCCESSORS AND ASSIGNS

  	
   

  
	
   

  	
   

  	
   

  
	
  13.

  	
  GOVERNING LAW

  	
   

  
	
   

  	
   

  	
   

  
	
  14.

  	
  HEADINGS

  	
   

  
	
   

  	
   

  	
   

  
	
  15.

  	
  COUNTERPARTS

  	
   

  
	
   

  	
   

  	
   

  
	
  16.

  	
  SEVERABILITY

  	
   

  
	
   

  	
   

  	
   

  
	
  17.

  	
  NOT APPLICABLE TO CNH CAPITAL
  AMERICA LLC IN OTHER CAPACITIES

  	
   

  
	
   

  	
   

  	
   

  
	
  18.

  	
  LIMITATION OF LIABILITY OF THE
  TRUSTEE AND THE INDENTURE TRUSTEE

  	
   

  
	
   

  	
   

  	
   

  
	
  19.

  	
  THIRD-PARTY BENEFICIARY

  	
   

  
	
   

  	
   

  	
   

  
	
  20.

  	
  INDEMNIFICATION

  	
   

  
	
   

  	
   

  	
   

  
	
  21.

  	
  INFORMATION REQUESTS

  	
   

  

 

i

 

ADMINISTRATION AGREEMENT dated as of March 1, 2005, among CNH
EQUIPMENT TRUST 2005-A, a Delaware statutory trust (the “Issuer”), CNH CAPITAL AMERICA LLC,
a Delaware limited liability company, as administrator (the “Administrator”),
and JPMorgan Chase Bank, N.A., a national banking association, not in its
individual capacity but solely as Indenture Trustee (the “Indenture Trustee”).

 

RECITALS

 

WHEREAS, the Issuer is issuing: (a) 3.08% Class
A-1 Asset Backed Notes, 3.64% Class A-2 Asset Backed Notes, 4.02% Class A-3
Asset Backed Notes, floating rate Class A-4a Asset Backed Notes, Class 4.29%
A-4b Asset Backed Notes, (collectively, the “Class A Notes”) and 4.29% Class B
Asset Backed Notes (the “Class B Notes” and, together with the Class A Notes, the “Notes”) pursuant
to the Indenture, dated as of the date hereof (as amended and supplemented from
time to time in accordance with the provisions thereof, the “Indenture”),
between the Issuer and the Indenture Trustee (capitalized terms used herein and
not otherwise defined herein are defined in Appendix A to the Indenture);

 

WHEREAS, the Issuer has entered into certain
agreements in connection with the issuance of the Notes and of certain
beneficial ownership interests of the Issuer, including: (i) a Sale and
Servicing Agreement, dated as of the date hereof (as amended and supplemented
from time to time, the “Sale
and Servicing Agreement”), among the Issuer, CNH Capital America LLC,
as servicer (the “Servicer”),
and CNH Capital Receivables LLC, a Delaware limited liability company, as
seller (the “Seller”),
(ii) a Depository Agreement, dated March 1, 2005 (the “Depository Agreement”),
among the Issuer, the Indenture Trustee, the Administrator and The Depository
Trust Company, (iii) the Indenture and (iv) a Trust Agreement, dated as of the
date hereof (the “Trust
Agreement”), between the Seller and the Trustee (the Sale and
Servicing Agreement, the Depository Agreement, the Indenture and the Trust
Agreement being hereinafter referred to collectively as the “Related Agreements”);

 

WHEREAS, pursuant to the Related Agreements, the
Issuer and the Trustee are required to perform certain duties in connection
with: (a) the Notes and the collateral therefor pledged pursuant to the
Indenture (the “Collateral”)
and (b) the beneficial ownership interests in the Issuer (the registered
holders of such interests being referred to herein as the “Owners”);

 

WHEREAS, the Issuer and the Trustee desire to
have the Administrator perform certain of the duties of the Issuer and the
Trustee referred to in the preceding clause, and to provide such additional
services consistent with this Agreement and the Related Agreements as the
Issuer and the Trustee may from time to time request;

 

WHEREAS, the Administrator has the capacity to
provide the services required hereby and is willing to perform such services
for the Issuer and the Trustee on the terms set forth herein;

 

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

 

1

 

1.  Duties of the Administrator.

 

(a)  Duties
with Respect to the Indenture and the Depository Agreement. The
Administrator shall perform all of its duties as Administrator and the duties
of the Issuer and the Trustee under the Depository Agreement. In addition, the
Administrator shall consult with the Trustee regarding the duties of the Issuer
and the Trustee under such documents. The Administrator shall monitor the
performance of the Issuer and shall advise the Trustee when action is necessary
to comply with the Issuer’s or the Trustee’s duties under such documents. The
Administrator shall prepare for execution by the Issuer or shall cause the
preparation by other appropriate persons of all such documents, reports,
filings, instruments, certificates and opinions as it shall be the duty of the
Issuer or the Trustee to prepare, file or deliver pursuant to such documents.
In furtherance of the foregoing, the Administrator shall take all appropriate
action that is the duty of the Issuer or the Trustee to take pursuant to such
documents, including, without limitation, such of the foregoing as are required
with respect to the following matters (references in this Section are to
sections of the Indenture):

 

(i)  the duty to cause the Note Register to be
kept and to give the Indenture Trustee notice of any appointment of a new Note
Registrar and the location, or change in location, of the Note Register (Section 2.4);

 

(ii)  the fixing or causing to be fixed of any
specified record date and the notification of the Indenture Trustee and
Noteholders with respect to special payment dates, if any (Section 2.7(c));

 

(iii)  the preparation of or obtaining of the
documents and instruments required for authentication of the Notes and delivery
of the same to the Indenture Trustee (Section 2.2);

 

(iv)  the preparation, obtaining or filing of the
instruments, opinions, certificates and other documents required for the
release of the Collateral (Section 2.9);

 

(v)  [reserved];

 

(vi)  the duty to cause newly appointed Paying
Agents, if any, to deliver to the Indenture Trustee the instrument specified in
the Indenture regarding funds held in trust (Section 3.3);

 

(vii)  the direction to the Paying Agents to deposit
moneys with the Indenture Trustee (Section 3.3);

 

(viii)  the obtaining and preservation of the Issuer’s
qualification to do business in each jurisdiction in which such qualification
is or shall be necessary to protect the validity and enforceability of the
Indenture, the Notes, the Collateral and each other instrument and agreement
included in the Trust Estate (Section 3.4);

 

(ix)  the preparation of all supplements,
amendments, financing statements, continuation statements, instruments of
further assurance and other instruments, in

 

2

 

accordance with Section 3.5 of the Indenture,
necessary to protect the Trust Estate (Section 3.5);

 

(x)  the delivery of the Opinion of Counsel on the
Closing Date and the annual delivery of Opinions of Counsel, in accordance with
Section 3.6 of the Indenture, as to the Trust Estate, and the annual
delivery of the Officer’s Certificate and certain other statements, in
accordance with Section 3.9 of the Indenture, as to compliance with the
Indenture (Sections 3.6 and 3.9);

 

(xi)  the identification to the Indenture Trustee in
an Officer’s Certificate of a Person with whom the Issuer has contracted to
perform its duties under the Indenture (Section 3.7(b));

 

(xii)  the notification of the Indenture Trustee and
the Rating Agencies of a Servicer Default pursuant to the Sale and Servicing
Agreement and, if such Servicer Default arises from the failure of the Servicer
to perform any of its duties under the Sale and Servicing Agreement, the taking
of all reasonable steps available to remedy such failure (Section 3.7(d));

 

(xiii)  the preparation and obtaining of documents
and instruments required for the release of the Issuer from its obligations
under the Indenture (Section 3.10(b));

 

(xiv)  the delivery of notice to the Indenture
Trustee and the Rating Agencies of (a) each Event of Default under the
Indenture, (b) each default by the Servicer or Seller under the Sale and
Servicing Agreement, (c) each default by CNHCA under the CNHCA Purchase
Agreement and (d) each default by NH Credit under the NH Purchase Agreement (Section 3.19);

 

(xv)  the monitoring of the Issuer’s obligations as
to the satisfaction and discharge of the Indenture and the preparation of an
Officer’s Certificate and the obtaining of the Opinion of Counsel and the
Independent Certificate relating thereto (Section 4.1);

 

(xvi)  the compliance with any written directive of
the Indenture Trustee with respect to the sale of the Trust Estate in a
commercially reasonable manner if an Event of Default shall have occurred and
be continuing (Section 5.4);

 

(xvii)  the furnishing to the Indenture Trustee of
the names and addresses of Noteholders during any period when the Indenture
Trustee is not the Note Registrar (Section 7.1);

 

(xviii)  the preparation, execution and filing with
the Commission and the Indenture Trustee of documents required to be filed on a
periodic basis with, and summaries thereof as may be required by rules and
regulations prescribed by, the Commission and the transmission of such
summaries, as necessary, to the Noteholders (Section 7.3);

 

(xix)  the opening of one or more accounts in the
Trust’s name, the preparation of Issuer Orders, Officer’s Certificates and
Opinions of Counsel and all other actions

 

3

 

necessary with respect to investment and reinvestment
of funds in the Trust Accounts (Sections 8.2 and 8.3);

 

(xx)  the preparation of an Issuer Request and
Officer’s Certificate and the obtaining of an Opinion of Counsel and
Independent Certificates, if necessary, for the release of the Trust Estate as
defined in the Indenture (Sections 8.4 and 8.5);

 

(xxi)  the preparation of Issuer Orders and the
obtaining of Opinions of Counsel with respect to the execution of supplemental
indentures and the mailing to the Noteholders of notices with respect to such
supplemental indentures (Sections 9.1, 9.2 and 9.3);

 

(xxii)  the execution and delivery of new Notes
conforming to any supplemental indenture (Section 9.6);

 

(xxiii)  the notification of Noteholders of redemption
of the Notes or the duty to cause the Indenture Trustee to provide such
notification (Section 10.2);

 

(xxiv)  the preparation of all Officer’s
Certificates, Opinions of Counsel and Independent Certificates with respect to
any requests by the Issuer to the Indenture Trustee to take any action under
the Indenture (Section 11.1(a));

 

(xxv)  the preparation and delivery of Officer’s
Certificates and the obtaining of Independent Certificates, if necessary, for
the release of property from the lien of the Indenture (Section 11.1(b));

 

(xxvi)  the preparation and delivery to Noteholders
and the Indenture Trustee of any agreements with respect to alternate payment
and notice provisions (Section 11.6); and

 

(xxvii)  the recording of the Indenture, if applicable
(Section 11.15).

 

(b)  Duties
with Respect to the Trust. (i)  In
addition to the duties of the Administrator set forth above, the Administrator
shall perform such calculations, and shall prepare for execution by the Issuer
or the Trustee or shall cause the preparation by other appropriate persons of
all such documents, reports, filings, instruments, certificates and opinions,
as it shall be the duty of the Issuer or the Trustee to perform, prepare, file
or deliver pursuant to the Related Agreements, and at the request of the
Trustee shall take all appropriate action that it is the duty of the Issuer or
the Trustee to take pursuant to the Related Agreements. Subject to Section 5 of
this Agreement, and in accordance with the directions of the Trustee, the
Administrator shall administer, perform or supervise the performance of such
other activities in connection with the Collateral (including the Related
Agreements) as are not covered by any of the foregoing and as are expressly
requested by the Trustee and are reasonably within the capability of the
Administrator.

 

(ii)  Notwithstanding anything in this Agreement or
the Related Agreements to the contrary, if any Certificates are held by any
Person other than the Depositor the Administrator shall be responsible for
promptly notifying the Trustee in the event that any withholding tax is imposed
on the Trust’s payments (or allocations of income) to an

 

4

 

Owner as contemplated in Section 5.2(c) of the
Trust Agreement. Any such notice shall specify the amount of any withholding
tax required to be withheld by the Trustee pursuant to such provision.

 

(iii)  Notwithstanding anything in this Agreement or
the Related Agreements to the contrary, the Administrator shall be responsible
for performance of the duties of the Trustee (if any) set forth in Sections
5.2(a), (b) and (c), the penultimate sentence of Section 5.5 and Section 5.6(a)
of the Trust Agreement with respect to, among other things, accounting and
reports to Owners; provided,
however, that the Trustee shall retain responsibility for the
distribution of the Schedule K-1s necessary to enable each Owner to
prepare its federal and state income tax returns.

 

(iv)  If any Certificates are held by any Person
other than the Depositor, the Administrator shall satisfy its obligations with
respect to clauses
(ii) and (iii)
by retaining, at the expense of the Trust payable by the Servicer, a firm of
Independent certified public accountants (the “Accountants”) reasonably
acceptable to the Trustee, which Accountants shall perform the obligations of
the Administrator thereunder. In connection with clause (ii), the Accountants will
provide, on or prior to the date on which the Trustee receives its notice from
the Administrator under such clause, a letter in form and substance satisfactory
to the Trustee as to whether any tax withholding is then required and, if
required, the procedures to be followed with respect thereto to comply with the
requirements of the Code. The Accountants shall be required to update the
letter in each instance that any additional tax withholding is subsequently
required or any previously required tax withholding shall no longer be
required.

 

(v)  The Administrator shall perform the duties of
the Administrator specified in Section 10.2 of the Trust Agreement required
to be performed in connection with the resignation or removal of the Trustee,
and any other duties expressly required to be performed by the Administrator
under the Trust Agreement.

 

(vi)  In carrying out the foregoing duties or any
of its other obligations under this Agreement, the Administrator may enter into
transactions with or otherwise deal with any of its affiliates; provided, however,
that the terms of any such transactions or dealings shall be in accordance with
any directions received from the Issuer and shall be, in the Administrator’s
opinion, no less favorable to the Issuer than would be available from
unaffiliated parties.

 

(vii)  The Administrator hereby agrees to execute on
behalf of the Issuer all such documents, reports, filings, instruments,
certificates and opinions as it shall be the duty of the Issuer to prepare,
file or deliver pursuant to the Basic Documents or otherwise by law.

 

(c)  Non-Ministerial
Matters. (i)  With respect to matters
that in the reasonable judgment of the Administrator are non-ministerial, the
Administrator shall not take any action unless within a reasonable time before
the taking of such action the Administrator shall have notified the Trustee of
the proposed action and the Trustee shall not have withheld consent or provided
an alternative direction. For the purpose of the preceding sentence, “non-ministerial
matters” shall include, without limitation:

 

5

 

(A)  the amendment of or any supplement to the
Indenture;

 

(B)  the initiation of any claim or lawsuit by the
Issuer and the compromise of any action, claim or lawsuit brought by or against
the Issuer (other than in connection with the collection of the Receivables);

 

(C)  the amendment, change or modification of the
Related Agreements;

 

(D)  the appointment of successor Note Registrars,
successor Paying Agents and successor Trustees pursuant to the Indenture or the
appointment of successor Administrators or successor Servicers, or the consent
to the assignment by the Note Registrar, Paying Agent or Indenture Trustee of
its obligations under the Indenture; and

 

(E)  the removal of the Indenture Trustee.

 

(ii)  Notwithstanding anything to the contrary in
this Agreement, the Administrator shall not be obligated to, and shall not: (x)
make any payments to the Noteholders under the Related Agreements, (y) sell the
Trust Estate pursuant to Section 5.4 of the Indenture or (z) take any
other action that the Issuer directs the Administrator not to take on its
behalf.

 

2.  Records.  The Administrator shall maintain appropriate
books of account and records relating to services performed hereunder, which
books of account and records shall be accessible for inspection by the Issuer,
the Indenture Trustee and the Depositor at any time during normal business
hours.

 

3.  Compensation.  As compensation for the performance of the
Administrator’s obligations under this Agreement and as reimbursement for its
expenses related thereto, the Administrator shall be entitled to $500 per quarter
payable in arrears on each Payment Date, which payment shall be solely an
obligation of the Issuer.

 

4.  Additional Information To Be Furnished to the
Issuer.  The Administrator
shall furnish to the Issuer from time to time such additional information
regarding the Collateral as the Issuer shall reasonably request.

 

5.  Independence of the Administrator.  For all purposes of this Agreement, the
Administrator shall be an independent contractor and shall not be subject to
the supervision of the Issuer or the Trustee with respect to the manner in
which it accomplishes the performance of its obligations hereunder. Unless
expressly authorized by the Issuer, the Administrator shall have no authority
to act for or represent the Issuer or the Trustee in any way (other than as
permitted hereunder) and shall not otherwise be deemed an agent of the Issuer
or the Trustee.

 

6.  No Joint Venture.  Nothing contained in this Agreement:  (i) shall constitute the Administrator and
either of the Issuer or the Trustee as members of any partnership, joint
venture, association, syndicate, unincorporated business or other separate
entity, (ii) shall be construed to impose any liability as such on any of them
or (iii) shall be deemed to confer on any

 

6

 

of them any
express, implied or apparent authority to incur any obligation or liability on
behalf of the others.

 

7.  Other Activities of the Administrator.  Nothing herein shall prevent the
Administrator or its Affiliates from engaging in other businesses or, in their
sole discretion, from acting in a similar capacity as an administrator for any
other Person even though such Person may engage in business activities similar
to those of the Issuer, the Trustee or the Indenture Trustee.

 

8.  Term of Agreement; Resignation and Removal of the
Administrator.  (a)  This Agreement shall continue in force until
the dissolution of the Issuer, upon which event this Agreement shall
automatically terminate.

 

(b)  Subject to Section 8(e), the Administrator
may resign its duties hereunder by providing the Issuer, the Trustee, the
Indenture Trustee and the Servicer with at least 60 days’ prior written notice.

 

(c)  Subject to Section 8(e), the Issuer may
remove the Administrator without cause by providing the Administrator, the
Trustee, the Indenture Trustee and the Servicer with at least 60 days’ prior
written notice.

 

(d)  Subject to Section 8(e), at the sole
option of the Issuer, the Administrator may be removed immediately upon written
notice of termination from the Issuer to the Administrator, the Trustee, the
Indenture Trustee and the Servicer if any of the following events shall occur:

 

(i)  the Administrator shall default in the
performance of any of its duties under this Agreement and, after notice of such
default, shall not cure such default within ten days (or, if such default
cannot be cured in such time, shall not give within ten days such assurance of
cure as shall be reasonably satisfactory to the Issuer);

 

(ii)  a court having jurisdiction in the premises
shall enter a decree or order for relief, and such decree or order shall not
have been vacated within 60 days, in respect of the Administrator in any
involuntary case under any applicable bankruptcy, insolvency or other similar
law now or hereafter in effect or appoint a receiver, liquidator, assignee,
custodian, trustee, sequestrator or similar official for the Administrator or
any substantial part of its property or order the winding-up or liquidation of
its affairs; or

 

(iii)  the Administrator shall commence a voluntary
case under any applicable bankruptcy, insolvency or other similar law now or
hereafter in effect, shall consent to the entry of an order for relief in an
involuntary case under any such law, or shall consent to the appointment of a
receiver, liquidator, assignee, trustee, custodian, sequestrator or similar
official for the Administrator or any substantial part of its property, shall
consent to the taking of possession by any such official of any substantial
part of its property, shall make any general assignment for the benefit of
creditors or shall fail generally to pay its debts as they become due.

 

The
Administrator agrees that if any of the events specified in clauses (ii) or (iii) of this
subsection shall occur, it shall give written notice thereof to the
Issuer, the Servicer, the Trustee and the Indenture Trustee within seven days
after the happening of such event.

 

7

 

(e)  Upon the Administrator’s receipt of notice of
termination, pursuant to Sections 8(c) or (d), or the Administrator’s resignation in accordance with
this Agreement, the predecessor Administrator shall continue to perform its
functions as Administrator under this Agreement, in the case of termination, only
until the date specified in such termination notice or, if no such date is
specified in a notice of termination, until receipt of such notice and, in the
case of resignation, until the later of: (x) the date 45 days from the delivery
to the Issuer, the Trustee, the Indenture Trustee and the Servicer of written
notice of such resignation (or written confirmation of such notice) in
accordance with this Agreement and (y) the date upon which the predecessor
Administrator shall become unable to act as Administrator, as specified in the
notice of resignation and accompanying Opinion of Counsel. In the event of the
Administrator’s termination hereunder, the Issuer shall appoint a successor
Administrator acceptable to the Indenture Trustee, and the successor Administrator
shall accept its appointment by a written assumption in form acceptable to the
Indenture Trustee. In the event that a successor Administrator has not been
appointed at the time when the predecessor Administrator has ceased to act as
Administrator in accordance with this Section, the Indenture Trustee without
further action shall automatically be appointed the successor Administrator and
the Indenture Trustee shall be entitled to the compensation specified in Section 3.
Notwithstanding the above, the Indenture Trustee shall, if it shall be unable
so to act, appoint or petition a court of competent jurisdiction to appoint any
established institution having a net worth of not less than $50,000,000 and
whose regular business shall include the performance of functions similar to
those of the Administrator, as the successor to the Administrator under this
Agreement.

 

(f)  Upon appointment, the successor Administrator
(including the Indenture Trustee acting as successor Administrator) shall be
the successor in all respects to the predecessor Administrator and shall be
subject to all the responsibilities, duties and liabilities arising thereafter
relating thereto placed on the predecessor Administrator and shall be entitled
to the compensation specified in Section 3 and all the rights granted to the predecessor
Administrator by the terms and provisions of this Agreement.

 

(g)  Except when and if the Indenture Trustee is
appointed successor Administrator, the Administrator may not resign unless it
is prohibited from serving as such by law as evidenced by an Opinion of Counsel
to such effect delivered to the Indenture Trustee. No resignation or removal of
the Administrator pursuant to this Section shall be effective until: (i) a
successor Administrator shall have been appointed by the Issuer and (ii) such
successor Administrator shall have agreed in writing to be bound by the terms
of this Agreement in the same manner as the Administrator is bound hereunder.

 

(h)  The appointment of any successor
Administrator shall be effective only after satisfaction of the Rating Agency
Condition with respect to the proposed appointment.

 

9.  Action upon Termination, Resignation or Removal.  Promptly upon the effective date of
termination of this Agreement pursuant to Section 8(a), or the
resignation or removal of the Administrator pursuant to Section 8(b) or (c),
respectively, the Administrator shall be entitled to be paid all fees and
reimbursable expenses accruing to it to the date of such termination,
resignation or removal. The Administrator shall forthwith upon such termination
pursuant to Section 8(a)
deliver to the Issuer all property and documents of or relating to
the Collateral then in the custody of the Administrator. In the event of the
resignation or removal of the

 

8

 

Administrator
pursuant to Section 8(b)
or (c),
respectively, the Administrator shall cooperate with the Issuer and the
Indenture Trustee and take all reasonable steps requested to assist the Issuer
and the Indenture Trustee in making an orderly transfer of the duties of the
Administrator.

 

10.  Notices.  Any notice, report or other communication
given hereunder shall be in writing and addressed as follows:

 

(a)  if to the Issuer or the Trustee, to:

 

CNH Equipment Trust
2005-A

c/o The Bank of New York

101 Barclay Street, Floor 8W

New York, New York 10286

Attention: Corporate Trust Administration - Asset Backed Finance Unit

 

(b)  if to the Administrator, to:

 

CNH Capital America LLC

233 Lake Avenue

Racine, Wisconsin 53403

Attention: Assistant Treasurer

 

(c)  if to the Indenture Trustee, to:

 

JPMorgan Chase Bank, N.A.

227 West Monroe Street, 26th Floor 

Chicago, Illinois 60606

Attention: Institutional Trust Services Group – CNH Equipment Trust

2005-A

 

or to such other address
as any party shall have provided to the other parties in writing. Any notice
required to be in writing hereunder shall be deemed given if such notice is
mailed by certified mail, postage prepaid, or hand-delivered to the address of
such party as provided above.

 

11.  Amendments.  This Agreement may be amended from time to
time by a written amendment duly executed and delivered by the Issuer, the
Administrator and the Indenture Trustee, with the written consent of the
Trustee, but without the consent of any of the Noteholders or the
Certificateholders, to cure any ambiguity, to correct or supplement provisions
of this Agreement or for the purpose of adding any provisions to or changing in
any manner or eliminating any of the provisions of this Agreement or of
modifying in any manner the rights of the Noteholders or the
Certificateholders; provided,
however, that such amendment shall not, as evidenced by an Opinion
of Counsel satisfactory to the Indenture Trustee, adversely affect in any
material respect the interests of any Noteholder or Certificateholder.

 

This Agreement
may also be amended from time to time by the Issuer, the Administrator and the
Indenture Trustee with the written consent of (w) the Trustee, (x) Noteholders
holding Notes evidencing not less than a majority of the Note Balance and (y)
the Holders of Certificates

 

9

 

evidencing not less than a majority of the Certificate
Balance, for the purpose of adding any provisions to or changing in any manner
or eliminating any of the provisions of this Agreement or of modifying in any
manner the rights of the Noteholders or the Certificateholders; provided, however,
that no such amendment shall: (i) increase or reduce in any manner the amount
of, or accelerate or delay the timing of, collections of payments on
Receivables or distributions that are required to be made for the benefit of
the Noteholders or the Certificateholders or (ii) reduce the aforesaid
percentage of the Holders of Notes and Certificates that are required to
consent to any such amendment, without the consent of the Holders of all the
outstanding Notes and Certificates. Notwithstanding the foregoing, the
Administrator may not amend this Agreement without the permission of the Depositor,
which permission shall not be unreasonably withheld.

 

Promptly after
the execution of any such amendment or consent (or, in the case of the Rating
Agencies, 10 days prior thereto), the Administrator shall furnish written
notification of the substance of such amendment or consent to each
Certificateholder, the Trustee, the Indenture Trustee and each of the Rating
Agencies.

 

It shall not be
necessary for the consent of the Certificateholders or the Noteholders pursuant
to this Section to approve the particular form of any proposed amendment
or consent, but it shall be sufficient if such consent shall approve the
substance thereof.

 

Notwithstanding
anything herein to the contrary, any term or provision of this Agreement may be
amended by the Administrator without the consent of the Certificateholders, the
Noteholders or any other Person to add, modify or eliminate any provisions as
may be necessary or advisable in order to comply with or obtain more favorable
treatment under or with respect to any law or regulation or any accounting rule
or principle (whether now or in the future in effect); it being a condition to
any such amendment that the Rating Agency Condition shall have been satisfied.

 

12.  Successors and Assigns.  This Agreement may not be assigned by the
Administrator unless such assignment is previously consented to in writing by
the Issuer, the Indenture Trustee and the Trustee and subject to the
satisfaction of the Rating Agency Condition in respect thereof. An assignment
with such consent and satisfaction, if accepted by the assignee, shall bind the
assignee hereunder in the same manner as the Administrator is bound
hereunder.  Notwithstanding the
foregoing, this Agreement may be assigned by the Administrator without the
consent of the Issuer or the Trustee to a corporation or other organization
that is a successor (by merger, consolidation or purchase of assets) to the
Administrator, provided that such successor organization executes and delivers
to the Issuer, the Trustee and the Indenture Trustee an agreement in which such
corporation or other organization agrees to be bound hereunder by the terms of
said assignment in the same manner as the Administrator is bound
hereunder.  Subject to the foregoing,
this Agreement shall bind any successors or assigns of the parties hereto.

 

13.  Governing Law.  This Agreement shall be construed in
accordance with the laws of the State of New York, without reference to its
conflict of law provisions, and the obligations, rights and remedies of the
parties hereunder shall be determined in accordance with such laws.

 

10

 

14.  Headings.  The section headings hereof have been
inserted for convenience of reference only and shall not be construed to affect
the meaning, construction or effect of this Agreement.

 

15.  Counterparts.  This Agreement may be executed in
counterparts, all of which when so executed shall together constitute but one
and the same agreement.

 

16.  Severability.  Any provision of this Agreement that is
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.

 

17.  Not Applicable to CNH Capital America LLC in Other
Capacities.  Nothing in
this Agreement shall affect any obligation CNH Capital America LLC may have in
any other capacity.

 

18.  Limitation of Liability of the Trustee and the
Indenture Trustee. 
(a)  Notwithstanding anything
contained herein to the contrary, this instrument has been countersigned by The
Bank of New York, not in its individual capacity but solely in its capacity as
Trustee of the Issuer, and in no event shall The Bank of New York, in its
individual capacity, or any beneficial owner of the Issuer have any liability
for the representations, warranties, covenants, agreements or other obligations
of the Issuer hereunder, as to all of which recourse shall be had solely to the
assets of the Issuer. For all purposes of this Agreement, in the performance of
any duties or obligations of the Issuer thereunder, the Trustee shall be
subject to, and entitled to the benefits of, the terms and provisions of
Articles VI, VII and VIII of the Trust Agreement.

 

(b)  Notwithstanding anything contained herein to
the contrary, this Agreement has been countersigned by JPMorgan Chase Bank,
N.A., not in its individual capacity but solely as Indenture Trustee, and in no
event shall JPMorgan Chase Bank, N.A. have any liability for the
representations, warranties, covenants, agreements or other obligations of the
Issuer hereunder or in any of the certificates, notices or agreements delivered
pursuant hereto, as to all of which recourse shall be had solely to the assets
of the Issuer.

 

19.  Third-Party Beneficiary.  The Trustee is a third-party beneficiary to
this Agreement and is entitled to the rights and benefits hereunder and may
enforce the provisions hereof as if it were a party hereto.

 

20.  Indemnification.  The Administrator shall indemnify the Trustee
and the Indenture Trustee (and their officers, directors, employees and agents)
for, and hold them harmless against, any losses, liability or expense,
including attorneys’ fees reasonably incurred by them, incurred without
negligence or bad faith on their part, arising out of or in connection with:
(i) actions taken by either of them pursuant to instructions given by the
Administrator pursuant to this Agreement or (ii) the failure of the
Administrator to perform its obligations hereunder. The indemnities contained
in this Section shall survive the termination of this Agreement and the
resignation or removal of the Administrator, the Trustee or the Indenture
Trustee.

 

11

 

21.  Information Requests.  The parties hereto shall provide any
information reasonably requested by the Administrator or any of its Affiliates,
at the expense of the Administrator or any of its Affiliates, as applicable, in
order to comply with or obtain more favorable treatment under any current or
future law, rule, regulation, accounting rule or principle.

 

12

 

IN WITNESS WHEREOF, the parties have caused this Agreement to be duly
executed and delivered as of the day and year first above written.

 

	
   

  	
  CNH EQUIPMENT TRUST
  2005-A

  
	
   

  	
   

  
	
   

  	
  By: The Bank of New York,

  
	
   

  	
   

  	
  not in its individual capacity but solely as

  Trustee on behalf of the Issuer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ CATHERINE MURRAY

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  	
   Catherine
  Murray

  	
   

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Assistant Treasurer

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  JPMORGAN CHASE BANK,
  N.A.,

  
	
   

  	
   

  	
  not in its individual capacity but solely as

  Indenture Trustee

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ KEITH RICHARDSON

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  	
   Keith
  Richardson

  	
   

  
	
   

  	
   

  	
   

  	
  Title:

  	
   Attorney-in-fact

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  CNH CAPITAL AMERICA
  LLC,

  
	
   

  	
   

  	
  as Administrator

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ BRIAN O’KEANE

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Brian O’Keane

  	
   

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Assistant Treasurer

  	
   

  
								

 

 

	
  Accepted and agreed:

  
	
   

  	
   

  
	
  THE BANK OF NEW YORK,

  
	
   

  	
  not in its individual capacity but

  solely as Trustee under the Trust Agreement

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/  CATHERINE
  MURRAY

  	
   

  
	
   

  	
  Name:

  	
  Catherine Murray

  	
   

  
	
   

  	
  Title:

  	
  Vice President

  	
   

  
	
   

  	
   

  
							

 

S-1

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