Document:

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                           CNH EQUIPMENT TRUST 2002-B

                            ADMINISTRATION AGREEMENT

                                      among

                           CNH EQUIPMENT TRUST 2002-B,
                                   as Issuer,

                                       and

                            CASE CREDIT CORPORATION,
                                as Administrator,

                                       and

                              JPMORGAN CHASE BANK,
                              as Indenture Trustee.

                          Dated as of November 1, 2002

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                                Table of Contents

Section                                                                     Page

1.      Duties of the
        Administrator..........................................................2

       (a)      Duties with Respect to the Indenture and the Depository
                  Agreement....................................................2

       (b)      Duties with Respect to the Trust...............................4

       (c)      Non-Ministerial Matters........................................5

2.     Records.................................................................6

3.     Compensation............................................................6

4.     Additional Information To Be Furnished to the Issuer....................6

5.     Independence of the Administrator.......................................6

6.     No Joint Venture........................................................6

7.     Other Activities of the Administrator...................................7

8.     Term of Agreement; Resignation and Removal of the Administrator.........7

9.     Action upon Termination, Resignation or Removal.........................8

10.    Notices.................................................................9

11.    Amendments..............................................................9

12.    Successors and Assigns.................................................10

13.    Governing Law..........................................................10

14.    Headings...............................................................10

15.    Counterparts...........................................................10

16.    Severability...........................................................10

17.    Not Applicable to Case Credit Corporation in Other Capacities..........11

18.    Limitation of Liability of the Trustee and the Indenture Trustee.......11

19.    Third-Party Beneficiary................................................11

20.    Indemnification........................................................11

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     ADMINISTRATION AGREEMENT dated as of November 1, 2002, among CNH
EQUIPMENT TRUST 2002-B, a Delaware statutory trust (the "Issuer"), CASE CREDIT
CORPORATION, a Delaware corporation, as administrator (the "Administrator"),
and JPMorgan Chase Bank, a corporation organized and existing under the laws
of State of New York, not in its individual capacity but solely as Indenture
Trustee (the "Indenture Trustee").

                                   RECITALS

     WHEREAS, the Issuer is issuing: (a) 1.40625 % Class A-1 Asset Backed
Notes, 1.86000 % Class A-2 Asset Backed Notes, Floating Rate Class A-3 Asset
Backed Notes, Floating Rate Class A-4 Asset Backed Notes (collectively, the
"Class A Notes") and 4.12000% 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, Case Credit Corporation, as servicer
(the "Servicer"), and CNH Capital Receivables Inc., a Delaware corporation, as
seller (the "Seller"), (ii) a Depository Agreement, dated November 19, 2002
(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. 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) the maintenance of an office in the Borough of Manhattan, City
     of New York, for registration of transfer or exchange of Notes (Section
     3.2);

          (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

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     other instruments, in 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 Officers' 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 Officers'
     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 of each Event
     of Default and each default by the Servicer or Seller under the Sale and
     Servicing 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
     Officers' 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 with 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, Officers' Certificates and Opinions of
     Counsel and all other actions necessary with respect to investment and
     reinvestment of funds in the Trust Accounts (Sections 8.2 and 8.3);

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          (xx) the preparation of an Issuer Request and Officers' 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 Officers' 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 Officers' 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 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.

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          (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
     5.5(a), (b), (c) and (d), 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") acceptable to the Trustee, which
     Accountants shall perform the obligations of the Administrator
     thereunder. In connection with clause (ii), the Accountants will provide
     prior to November 19, 2002, 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:

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

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

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     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.

     (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

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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 unwilling or 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 Administrator
pursuant to Section 8(b) or (c), respectively, the Administrator shall
cooperate with the Issuer and the Indenture Trustee and take all reasonable

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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 2002-B
               c/o The Bank of New York
               101 Barclay Street, Floor 12E
               New York, New York  10286
               Attn: Corporate Trust Administration - Asset Backed Finance Unit

(b) if to the Administrator, to:

               Case Credit Corporation
               233 Lake Avenue
               Racine, Wisconsin 53403
               Attention: Treasurer

(c) if to the Indenture Trustee, to:

               JPMorgan Chase Bank
               4 New York Plaza, 6th Floor
               New York, New York  10004
               Attention: Institutional Trust Services Group

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 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

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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.

     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.

     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.

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<PAGE>

     17. Not Applicable to Case Credit Corporation in Other Capacities.
Nothing in this Agreement shall affect any obligation Case Credit Corporation
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, not in its individual
capacity but solely as Indenture Trustee, and in no event shall JPMorgan Chase
Bank 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
<PAGE>

     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 2002-B

                           By: THE BANK OF NEW YORK,
                                 not in its individual capacity but solely as
                                 Trustee on behalf of the Issuer

                               By: /s/ Erwin Soriano
                                  -------------------------------------
                                  Name: Erwin Soriano
                                  Title:Assistant Treasurer

                           JPMORGAN CHASE BANK,
                                 not in its individual capacity but solely as
                                 Indenture Trustee

                                 By: /s/ Jennifer H. Baran
                                  -------------------------------------
                                    Name: Jennifer H. Baran
                                    Title: Vice President

                           CASE CREDIT CORPORATION,
                                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/ Erwin Soriano
   -------------------------------------
   Name: Erwin Soriano
   Title:Assistant Treasurer

                                      S-1Exhibit 4.7

                            PERFORMANCE GUARANTY

THIS PERFORMANCE GUARANTY made as of the 1st day of November 2002

BETWEEN:

                  IHF - INTERNAZIONALE HOLDING FIAT S.A., a corporation
                  incorporated  under the laws of Switzerland,

                  (hereinafter referred to as the "Performance Guarantor"),

                  - and -

                  JPMORGAN CHASE BANK, as indenture trustee for the
                  benefit of the Noteholders,

                  (in such capacity, hereinafter referred to as the
                  "Indenture Trustee")

WHEREAS Case Credit Corporation, a Delaware corporation ("Case Credit"),
CNH Capital Receivables Inc., a Delaware corporation ("CNHCR" or "Seller"),
and CNH Equipment Trust 2002-B, a Delaware statutory trust (the "Trust"),
have entered into a Sale and Servicing Agreement dated as of the date
hereof (as the same may be amended, restated, replaced, supplemented or
otherwise modified from time to time, the "Sale and Servicing Agreement")
in connection with an asset securitization transaction;

AND WHEREAS Case Credit is an Affiliate of the Performance Guarantor and is
the initial Servicer under the Sale and Servicing Agreement;

AND WHEREAS the Performance Guarantor has agreed to provide this guaranty
for the benefit of the Indenture Trustee, as indenture trustee under the
Indenture dated as of the date hereof between the Trust and the Indenture
Trustee.

AND WHEREAS the Performance Guarantor has agreed to guarantee for the
benefit of the Indenture Trustee the performance and payment of Case
Credit's covenants, agreements, liabilities and obligations under the Sale
and Servicing Agreement but only in its capacity as Servicer, on the terms
and conditions set forth herein.

NOW THEREFORE THIS AGREEMENT WITNESSES that in consideration of the
premises and the covenants and agreements of the parties herein contained
and for other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged by each party, the parties hereby covenant
and agree as follows:

<PAGE>

                                 ARTICLE 1
                               INTERPRETATION

1.1      Definitions

In this Agreement, terms used herein and not otherwise defined shall have
the meanings ascribed thereto in the Sale and Servicing Agreement and the
following terms shall have the following meanings:

"Agreement" means this agreement, as the same may be amended, supplemented,
modified, restated or replaced from time to time, together with all
Schedules hereto and the expressions "hereof'", "herein", "hereto",
"hereunder" and "hereby" and similar expressions refer to this Agreement
and not to any particular Article, Section, paragraph, subparagraph or
clause hereof.

"Guaranteed Obligations" shall have the meaning ascribed thereto in Section
2.1.

"Guarantor Event" means (i) the long term credit rating assigned to the
senior unsecured debt obligations of Case Credit Corporation is less than
BBB+ by Standard and Poor's and Baa1 by Moody's Investors Service, Inc. (or
its successor) or (ii) the Seller is not a direct or indirect wholly owned
subsidiary of Case Credit Corporation.

1.2      Extended Meanings

Words importing the singular shall include the plural and vice versa, words
importing gender shall include all genders, and words importing natural
persons shall include all Persons. Any defined term used in the singular
preceded by "any" or "each" shall be taken to indicate any number of the
members of the relevant class. Unless otherwise specified, any reference in
this Agreement to any statute will include all regulations made thereunder
or in connection therewith from time to time, and will include such statute
as the same may be amended, supplemented or replaced from time to time.
Every use of the word "including" herein shall be construed as meaning
"including, without limitation".

1.3      Headings, Sections, Etc.

The division of this Agreement into Articles and Sections, the insertion of
headings and the provision of a table of contents are for convenience of
reference only and shall not affect the construction or interpretation of
this Agreement. Unless something in the subject matter or context is
inconsistent therewith, references herein to Articles, Sections or
Schedules are references to Articles, Sections and Schedules of or to this
Agreement.

1.4      Payments

Unless otherwise indicated, all amounts required hereby to be paid to any
party or deposited to any account are to be paid or deposited, as the case
may be, in immediately available funds at the place specified for such
payment or deposit.

<PAGE>

1.5      Non-Business Days

Unless provided to the contrary herein, if any payment to be made hereunder
shall be due, any period of time would begin or end, any calculation is to
be made or any other action is to be taken on, or as of, or from a period
ending on, a day other than a Business Day, such payment shall be made,
such period of time shall begin or end, such calculation shall be made and
such other actions shall be taken, as the case may be, on or as of the next
succeeding Business Day.

                                 ARTICLE 2
                            PERFORMANCE GUARANTY

2.1      Performance Guaranty

The Performance Guarantor hereby unconditionally and irrevocably guarantees
to the Indenture Trustee, upon the occurrence and continuance of each
Guarantor Event, the due and punctual performance and observance by Case
Credit in its capacity as Servicer of all of the terms, covenants,
conditions, agreements, undertakings, indemnities and obligations on the
part of Case Credit to be performed or observed by Case Credit under the
Sale and Servicing Agreement by Case Credit in its capacity as Servicer in
accordance with the terms hereof and thereof (all such terms, covenants,
conditions, agreements, undertakings, indemnities and obligations on the
part of Case Credit in its capacity as Servicer to be performed and
observed, being collectively called the "Guaranteed Obligations"). In the
event that Case Credit shall fail in any manner whatsoever to perform or
observe any of the Guaranteed Obligations when the same shall be required
to be performed or observed, the Performance Guarantor will itself duly and
punctually perform and observe, or will cause the due and punctual
performance and observance of, the Guaranteed Obligations, and it shall not
be a condition to the accrual of the obligation of the Performance
Guarantor hereunder to perform or observe any of the Guaranteed Obligations
(or to cause the same to be performed or observed) that the Indenture
Trustee shall have first made any request of or demand upon or give any
notice to the Performance Guarantor or to Case Credit or have initiated any
action or proceeding against the Performance Guarantor or Case Credit in
respect thereof. The Indenture Trustee may proceed to enforce the
obligations of the Performance Guarantor under this Section 2.1 without
first pursuing or exhausting any right or remedy which the Indenture
Trustee may have against Case Credit, any other Person, the Collateral or
any other property.

2.2      Validity of the Performance Guarantor's Obligations

The obligations of the Performance Guarantor under this Agreement are
continuing, unconditional and absolute and, without limiting the generality
of the foregoing, the validity and enforceability of this Agreement shall
not be impaired or affected by:

           (a)    any extension, modification or renewal of, or indulgence
                  with respect to, or substitutions for, the Guaranteed
                  Obligations or any part thereof or any agreement relating
                  thereto at any time;

           (b)    any failure or omission to enforce any right, power or
                  remedy with respect to the Guaranteed Obligations or any
                  part thereof or any agreement relating thereto, or any
                  collateral securing the Guaranteed Obligations or any
                  part thereof;

<PAGE>

          (c)     any waiver of any right, power or remedy or of any
                  default with respect to the Guaranteed Obligations or any
                  part thereof or any agreement relating thereto or with
                  respect to any collateral securing the Guaranteed
                  Obligations or any part thereof;

          (d)     any release, surrender, compromise, settlement, waiver,
                  subordination or modification, with or without
                  consideration, of any collateral securing the Guaranteed
                  Obligations or any part thereof, any other guarantees
                  with respect to the Guaranteed Obligations or any part
                  thereof, or any other obligation of any person or entity
                  with respect to the Guaranteed Obligations or any part
                  thereof;

          (e)     the enforceability or validity of the Guaranteed
                  Obligations or any part thereof or the genuineness,
                  enforceability or validity of any agreement relating
                  thereto or with respect to any collateral securing the
                  Guaranteed Obligations or any part thereof; or

          (f)     the application of payments received from any source to
                  the payment of indebtedness of Case Credit to the
                  Indenture Trustee other than the Guaranteed Obligations,
                  any part thereof or amounts which are not covered by this
                  Agreement even though the Indenture Trustee might
                  lawfully have elected to apply such payments to any part
                  or all of the Guaranteed Obligations or to amounts which
                  are not covered by this Agreement,

all whether or not the Performance Guarantor shall have had notice or
knowledge of any act or omission referred to in the foregoing clauses (a)
through (f), inclusive, of this Section 2.2. It is agreed that the
Performance Guarantor's liability and obligation hereunder is several and
independent of any other guarantees or other obligations at any time in
effect with respect to the Guaranteed Obligations or any part thereof and
that the Performance Guarantor's liability and obligation hereunder may be
enforced regardless of the existence, validity, enforcement or
non-enforcement of any such other guarantees or other obligations.

2.3      Subrogation

Until the Guaranteed Obligations are paid or performed in full, the
Performance Guarantor shall not exercise any right of subrogation with
respect to any payments made by it pursuant to this Agreement. The
Performance Guarantor waives any benefit of the collateral, if any, which
may from time to time secure the Guaranteed Obligations or any part thereof
and authorizes the Indenture Trustee to take any action or exercise any
remedy with respect thereto, which the Indenture Trustee in its sole
discretion shall determine, without notice to the Performance Guarantor.

2.4      Authorization by Performance Guarantor

The Trust may continue to purchase Receivables and other CNHCR Assets from
time to time pursuant to the Sale and Servicing Agreement and assign such
CNHCR Assets to the Indenture Trustee pursuant to the Indenture, all
without notice to or authorization from the Performance Guarantor
regardless of Case Credit's financial or other condition at the time of any
such purchase. The Performance Guarantor acknowledges to the Indenture
Trustee that it has adequate means to obtain from Case Credit on a
continuing basis all information concerning the financial condition of Case
Credit and the collectibility of the CNHCR Assets, and agrees with the
Indenture Trustee that the Indenture Trustee shall not have any obligation
to disclose or discuss with the Performance Guarantor any information which
the Indenture Trustee has respecting the financial condition of Case Credit
or the collectibility of any CNHCR Assets.

<PAGE>

2.5      Changes in Case Credit

This Agreement shall not be discharged or otherwise affected by any change
in the name of Case Credit or in the objects, capital structure or
constitution of Case Credit, or by Case Credit being amalgamated or merged
with another corporation, but shall, notwithstanding any such event,
continue to apply to all Guaranteed Obligations whether theretofore or
thereafter incurred, and in the case of Case Credit being merged,
consolidated or amalgamated with another corporation, this Agreement shall
apply to the liabilities of the resulting corporation and the terms "Case
Credit" and "the Servicer" (for as long as Case Credit is the Servicer)
shall include each such resulting corporation.

2.6      Taxes

All payments to be made by the Performance Guarantor hereunder shall be
made in full without set-off or counter-claim, free and clear of any fees,
levies, duties, deductions, withholdings taxes or other restrictions or
conditions of any nature whatsoever. If the Performance Guarantor is
required by law to make any deduction or withholding on account of Taxes or
otherwise from any such payment, the sum due from it in respect of such
payment shall be increased to the extent necessary to ensure that after the
making of such deduction or withholding, the Indenture Trustee receives a
net sum equal to the sum which it would otherwise have received had no
deduction or withholding been made, and the Performance Guarantor shall
indemnify the Indenture Trustee on an after tax basis with respect to any
such deduction or withholding including with respect to any taxes payable
by the Indenture Trustee on any increased amounts payable under this
Section 2.6.

                                 ARTICLE 3
                     REPRESENTATIONS AND WARRANTIES OF
                           PERFORMANCE GUARANTOR

3.1

The Performance Guarantor represents and warrants to the Indenture Trustee
as follows which representations and warranties shall continue until the
Guaranteed Obligations have been performed, observed or paid in full:

          (a)     the Performance Guarantor is a corporation validly
                  existing under the laws of its jurisdiction of
                  incorporation, has full power and authority to own its
                  properties and assets and to carry on its businesses in
                  every jurisdiction in which it is currently carrying on
                  business where the failure to be so qualified would have
                  a material adverse effect on the ability of the
                  Performance Guarantor to perform its obligations under
                  this Agreement;

<PAGE>

          (b)     the Performance Guarantor has full corporate power and
                  capacity to execute and deliver this Agreement and to
                  perform all of its obligations hereunder;

          (c)     the Performance Guarantor has taken all necessary action
                  to authorize the execution and delivery of this Agreement
                  and the performance of its obligations hereunder;

          (d)     this Agreement is a legal and binding obligation of the
                  Performance Guarantor and is enforceable against the
                  Performance Guarantor in accordance with its terms.

          (e)     the consummation of the transactions contemplated by
                  this Agreement and the fulfilment of the terms thereof 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 or both) a default under the
                  constating documents of the Performance Guarantor, or any
                  indenture, agreement or other instrument to which the
                  Performance Guarantor is a party or by which it shall be
                  bound; or result in the creation or imposition of any
                  encumbrance upon any of its properties pursuant to the
                  terms of any such indenture, agreement or other
                  instrument; or violate any law, order, rule or regulation
                  applicable to the Performance Guarantor; and

          (f)     there are no actions, suits or proceedings pending or, to
                  the knowledge of the Performance Guarantor, threatened
                  against the Performance Guarantor or any of its
                  undertakings, property and assets, at law or in equity or
                  before any arbitrator of by an governmental authority,
                  body, agency, commission or instrumentality having
                  jurisdiction in respect of which could materially and
                  adversely affect the ability of the Performance Guarantor
                  to perform any of its obligations hereunder.

3.2      Covenants of the Performance Guarantor

The Performance Guarantor covenants with the Indenture Trustee that it
shall:

          (a)     comply in all material respects with all laws, rules,
                  regulations and orders applicable to it and all or any of
                  its businesses and properties;

          (b)     preserve and maintain its corporate existence;

          (c)     make available to the Indenture Trustee, via its website
                  www.fiatgroup.com, as soon as available and in any event
                  within 180 days after the end of each fiscal year, a copy
                  of the financial statements of the Performance Guarantor
                  for such year, such financial statements to contain at
                  least a balance sheet, an earning statement and a
                  statement of retained earnings.

<PAGE>

                                 ARTICLE 4
                               MISCELLANEOUS

4.1      Amendments, Waivers, Etc.

No termination of this Agreement or any amendment or waiver of any
provision of this Agreement, or any consent to any departure by any party
therefrom or any approval or direction to be given by any party hereunder
shall be effective in whole or in part unless the termination, amendment,
waiver, consent, approval or direction shall be (a) in writing and signed
by the Indenture Trustee and the Performance Guarantor and (b) approved by
the Rating Agencies and Noteholders holding Notes evidencing not less than
a majority of the Note Balance, and then such waiver, consent, approval or
direction shall be effective only in the specific instance and for the
specific purpose for which it was given.

4.2      No Waiver; Remedies

No failure on the part of any party to exercise, and no delay in
exercising, any right hereunder shall operate as a waiver thereof, nor
shall any single or partial exercise of any right hereunder preclude any
other or further exercise thereof or the exercise of any other right. The
remedies herein provided are cumulative and not exclusive of any remedies
provided by law.

4.3      Time of the Essence

Time shall be of the essence of this Agreement and of every provision
hereof.

4.4      Notices

All notices or other communications authorized or required to be given
pursuant to this Agreement, or pursuant to which any rights or obligations
may arise hereunder, shall be in writing (including telecopied
communication and such other method of recorded or recordable electronic
communications as to which the parties may hereafter agree) and shall be
either personally delivered or sent by telecopier as follows:

              (a) to the Indenture Trustee at:

                  JPMorgan Chase Bank
                  4 New York Plaza, 6th Floor
                  New York, New York  10004

                  Attention: Institutional Trust Services Group
                  Fax No.:   (212) 623-5932

              (b) to the Performance Guarantor at:

                  IHF - INTERNATIONALE HOLDING FIAT S.A.
                  Riva Paradiso, 14
                  6902 - Lugano Paradiso (CH)

                  Attention:  Finance Director
                  Fax No.: 41 91 9853641

<PAGE>

Any notice or other communication given by personal delivery will be
conclusively deemed to have been given and received on the day of actual
delivery thereof and, if given by telecopier, on the day of transmittal
thereof if given during the normal business hours of the recipient and on
the next Business Day if not given during such business hours on any day. A
party may change its address for receipt of notices or other communications
hereunder by giving notice thereof to each of the other parties in the
manner aforesaid.

4.5      Binding Effect, Assignability, Etc.

This Agreement shall be binding upon and enure to the benefit of the
Indenture Trustee and their respective successors and assigns. The
Performance Guarantor may not assign its rights or obligations hereunder or
any interest herein without obtaining the prior written consent of the
Indenture Trustee hereto.

4.6      Governing Law

This Guaranty 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.

4.7      Consent to Jurisdiction; Waiver of Immunities

         (a)      Each of the parties hereby irrevocably submits to the
                  jurisdiction of any court sitting in the State of New
                  York in any action or proceeding arising out of or
                  relating to this Agreement, and each of the parties
                  hereby irrevocably agrees that all claims in respect of
                  such action or proceeding may be heard and determined in
                  such court. Each of the parties hereby irrevocably
                  waives, to the extent permitted by law, the defence of an
                  inconvenient forum to the maintenance of such action or
                  proceeding. Each of the parties agrees that a final
                  judgment in any action or proceeding shall be conclusive
                  and may be enforced in other jurisdictions by suit on the
                  judgment or in any other manner provided by law.

         (b)      Nothing in this Section 4.7 shall affect (i) the right to
                  serve legal process in any other manner permitted by Law,
                  or (ii) the right of any party to bring any action or
                  proceeding in the courts of other jurisdictions.

         (c)      To the extent that any party has or hereafter may acquire
                  any immunity from the jurisdiction of any court or from
                  any legal process (whether through service or notice,
                  attachment prior to judgment, attachment in aid of
                  execution, execution or otherwise) with respect to itself
                  or its property, it hereby irrevocably waives, to the
                  extent permitted by law, such immunity in respect of its
                  obligations hereunder.

<PAGE>

4.8      Severability

Any provision hereof that is prohibited or unenforceable in whole or in
part in any jurisdiction shall, as to such provision and such jurisdiction,
be ineffective to the extent of such prohibition or unenforceability
without invalidating the remaining provisions of this Agreement or
affecting the validity or enforceability of such provision in any other
jurisdiction.

4.9      Further Assurances

Each of the parties, upon the request of any other party, shall do,
execute, acknowledge and deliver or cause to be done, executed,
acknowledged or delivered all such further acts, deeds, documents,
assignments, transfers, conveyances, powers of attorney and assurances as
may be reasonably necessary or desirable to effect complete consummation of
the objects and intent of and the transactions contemplated by this
Agreement.

4.10     Counterparts

This Agreement may be executed in counterparts, each of which when so
executed shall be deemed to be an original and all of which taken together
shall constitute one and the same instrument. For all purposes of this
Agreement and all other documents and agreements contemplated hereby, the
signature of any party hereto or thereto, evidenced by a telecopy showing
such signature or other electronically transmitted version of such
signature, shall constitute conclusive proof for all purposes of the
signature of such party to such documents and agreements, to the same
extent in all respects as a copy of such documents and agreements showing
the original signature of such party.

<PAGE>

IN WITNESS WHEREOF the Performance Guarantor has executed this Agreement.

                                  IHF - INTERNAZIONALE HOLDING FIAT S.A.

                                  By:  /s/ Ernesto Rodoni
                                      -------------------------------------
                                      Name:  Ernesto Rodoni
                                      Title: Manager

                                  By: /s/ Florio Giamboni
                                      -------------------------------------
                                      Name: Florio Giamboni
                                      Title: Deputy Manager

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