Document:

Exhibit
4.7

 

Trust
Swap

Class
A-4a Notes

 

CONFIRMATION FOR U.S. DOLLAR INTEREST RATE SWAP

TRANSACTION UNDER 1992 MASTER AGREEMENT

 

TO:                                                                            CNH Equipment Trust 2005-A

Ms. Catherine Murray

Assistant
Treasurer

Corporate
Trust/ABS

The Bank of
New York, as Trustee

101 Barclay
St., 8W

(212) 815-2489
(direct)

(212) 815-3883
(fax)]

 

FROM:                                                         ABN AMRO BANK N.V.

250
Bishopsgate,

London EC2M
4AA,

United Kingdom

Attention:  Matthew Ackland / Stephen Potter – Asset
Securitisation Derivatives

Fax: 44 20
7857 9587

Telephone: 44 20
7678 1403

Electronic
Messaging System Details: Swift ABNA GB 2L

 

DATE:                                                           March 16, 2005

 

Our Reference
Numbers: 804589:896537

 

The purpose of
this letter agreement is to confirm the terms and conditions of the Swap
Transaction entered into between ABN AMRO BANK N.V. (“Party A”) and CNH
Equipment Trust 2005-A (“Party B”) on the Trade Date specified below (the “Swap
Transaction” or the “Transaction”).  This
letter agreement constitutes a “Confirmation” as referred to in the Master
Agreement specified below.

 

1.                                       The definitions and provisions contained in the 2000 ISDA
Definitions (as published by the International Swaps and Derivatives
Association, Inc., the “Definitions”) are incorporated into this
Confirmation.  In the event of any
inconsistency between the Definitions and this Confirmation, this Confirmation
will govern.  Each party represents and
warrants to the other that (a) it is duly authorized to enter into this Swap
Transaction and to perform its obligations hereunder, (b) the Swap Transaction
and the performance of its obligations hereunder do not violate any material
obligation of such party, and (c) the person executing this Confirmation is
duly authorized to execute and deliver it.

 

This
Confirmation supplements, forms part of, and is subject to, the ISDA Master
Agreement between Party A and Party B dated as of March 16, 2005, as amended
and supplemented from time to time (the “Agreement”).  This Confirmation shall supplement,

 

 

form
part of, and be subject to that Agreement, and all provisions contained or
incorporated by reference in the Agreement shall govern this Confirmation
except as expressly modified below.

 

2.                                       The terms of the particular Transaction to which this Confirmation
relates are as follows:

 

	
   

  	
   

  	
  Trade Date:

  	
   

  	
  March 8,
  2005

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Effective
  Date:

  	
   

  	
  March 16,
  2005

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Termination
  Date:

  	
   

  	
  The earliest
  of (i) December 15, 2008 and (ii) when the Notional Amount hereunder has been
  reduced to zero, subject to adjustment in accordance with the Following
  Business Day Convention and subject to early termination in accordance with
  the terms of the Agreement.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Calculation
  Periods:

  	
   

  	
  For each
  Fixed Rate Payer Payment Date, the period from and including the immediately
  preceding Fixed Rate Payer Period End Date to, but excluding, the next Fixed
  Rate Payer Period End Date, during the Term of this Swap Transaction, except
  that (a) the initial Fixed Rate Calculation Period will commence on, and
  include, the Effective Date, and (b) the final Fixed Rate Calculation Period
  will end on, but exclude, the Termination Date (without regard to any
  Business Day adjustment in the case of the final Fixed Rate Calculation
  Period) (“Fixed Rate Calculation Period”).

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  For each
  Floating Rate Payer Payment Date, the period from and including the immediately
  preceding Floating Rate Payer Payment Date to, but excluding, such Floating
  Rate Payer Payment Date, during the Term of this Swap Transaction, except
  that (a) the initial Floating Rate Calculation Period will commence on, and
  include, the Effective Date, and (b) the final Floating Rate Calculation
  Period will end on, but exclude, the Termination Date (“Floating Rate
  Calculation Period”). Floating Rate Calculation Periods correspond to
  “Interest Periods” under the Indenture dated as of March 16, 2005, between
  Party B and JPMorgan Chase Bank, N.A. as indenture trustee (the “Indenture”).

  

 

2

 

	
   

  	
   

  	
  Notional
  Amount:

  	
   

  	
  The
  Outstanding Amount of the Class A-4a Notes as of the close of business on the
  first day of each Floating Rate Calculation Period. “Outstanding Amount” and
  “Class A-4a Notes” each has the meaning specified in Appendix A to the
  Indenture.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Fixed
  Amounts:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Fixed Rate
  Payer:

  	
   

  	
  Party B

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Fixed Rate
  Payer

  	
   

  	
   

  
	
   

  	
   

  	
  Payment
  Dates:

  	
   

  	
  The
  15th day of each month, commencing April 15, 2005, subject to
  adjustment in accordance with the Following Business Day Convention.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Fixed
  Rate Payer

  	
   

  	
   

  
	
   

  	
   

  	
  Period
  End Date:

  	
   

  	
  The
  15th day of each month, commencing April 15, 2005, without
  adjustment.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Fixed Rate:

  	
   

  	
  4.2825 per
  cent

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Fixed Rate

  	
   

  	
   

  
	
   

  	
   

  	
  Day Count
  Fraction:

  	
   

  	
  30/360

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Fixed Rate
  Payer Payment

  	
   

  	
   

  
	
   

  	
   

  	
  Amounts:

  	
   

  	
  For each
  Fixed Rate Payer Payment Date, in respect of a Fixed Rate Calculation Period,
  the product of (a) the Fixed Rate, (b) the Fixed Rate Day Count Fraction and
  (c) the Notional Amount for such Fixed Rate Calculation Period.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Floating
  Amounts:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Floating
  Rate Payer:

  	
   

  	
  Party A

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Floating
  Rate Payer

  	
   

  	
   

  
	
   

  	
   

  	
  Payment
  Dates:

  	
   

  	
  The
  15th day of each month, commencing April 15, 2005, subject to
  adjustment in accordance with the Following Business Day Convention.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Floating
  Rate Option:

  	
   

  	
  USD-LIBOR-BBA
  (set two London Banking Days prior to the first day of each Floating Rate
  Calculation Period).

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Designated
  Maturity:

  	
   

  	
  One month

  

 

3

 

	
   

  	
   

  	
  Initial
  Floating Rate:

  	
   

  	
  2.82 per
  cent

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Spread:

  	
   

  	
  None

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Floating
  Rate

  	
   

  	
   

  
	
   

  	
   

  	
  Day Count
  Fraction:

  	
   

  	
  Actual/360

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Floating
  Rate Payer

  	
   

  	
   

  
	
   

  	
   

  	
  Payment Amounts:

  	
   

  	
  For each
  Floating Rate Payer Payment Date, in respect of a Floating Rate Calculation
  Period, the product of (a) the Floating Rate, (b) the Floating Rate Day Count
  Fraction and (c) the Notional Amount for such Floating Rate Calculation
  Period.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Reset Dates:

  	
   

  	
  Other than
  in connection with the Initial Floating Rate, the first day of each
  Calculation Period.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Compounding:

  	
   

  	
  Inapplicable

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Business
  Days:

  	
   

  	
  New York

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Business Day
  Convention:

  	
   

  	
  Following.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Calculation
  Agent:

  	
   

  	
  Party A

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  3.                                       Account Details:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Payments to Party A:

  	
   

  	
  ABN AMRO Bank N.V., New York, ABNAUS33

  
	
   

  	
   

  	
   

  	
   

  	
  CHIPS 007535

  
	
   

  	
   

  	
   

  	
   

  	
  ABA No. 026009580

  
	
   

  	
   

  	
   

  	
   

  	
  A/C Name: ABN Amro Bank N.V., London

  
	
   

  	
   

  	
   

  	
   

  	
  A/C No. /661001036741

  
	
   

  	
   

  	
   

  	
   

  	
  Ref. DCM

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Payments to Party B:

  	
   

  	
  JPMorgan Chase Bank, N.A.-New York, NY

  
	
   

  	
   

  	
   

  	
   

  	
  ABA #021000021

  
	
   

  	
   

  	
   

  	
   

  	
  Account #507199782

  
	
   

  	
   

  	
   

  	
   

  	
  Ref: CNH 2005-A Swap Pymt

  
	
   

  	
   

  	
   

  	
   

  	
  Attn:
  K. Richardson (312-267-5030)

  

 

4

 

Please confirm
that the foregoing correctly sets forth the terms and conditions of our
agreement by responding within three (3) Business Days by returning via
telecopier an executed copy of this Confirmation to the attention of

Matthew
Ackland

4th Floor

250
Bishopsgate

London EC2M
4AA

 

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

 

 

	
  ABN
  AMRO BANK N.V.

  	
  Accepted
  and confirmed as of the date first

  written:

  
	
  By:

  	
  /s/ DENIS
  VISKOVICH

  	
   

  	
   

  
	
  Name: Denis
  Viskovich

  	
  CNH Equipment
  Trust 2005-A

  
	
  Title:
  Authorized Signatory

  	
   

  
	
   

  	
  By: The Bank
  of New York, not in its individual

  capacity but solely as Trustee

  
	
   

  	
   

  
	
  By:

  	
  /s/ DOUGLAS
  SCOTT

  	
   

  	
   

  
	
  Name: Douglas
  Scott

  	
   

  
	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  CATHERINE MURRAY

  	
   

  
	
   

  	
  Name:
  Catherine Murray

  
	
   

  	
  Title:
  Assistant Treasurer

  

 

5

 

SCHEDULE A

 

	
  Calculation Period

  Start Date

  	
   

  	
  Calculation Period

  End Date

  	
   

  	
  Notional Amount

  (USD)

  	
   

  
	
  16-Mar-05

  	
   

  	
  15-Apr-05

  	
   

  	
  135,250,000.00

  	
   

  
	
  15-Apr-05

  	
   

  	
  15-May-05

  	
   

  	
  135,250,000.00

  	
   

  
	
  15-May-05

  	
   

  	
  15-Jun-05

  	
   

  	
  135,250,000.00

  	
   

  
	
  15-Jun-05

  	
   

  	
  15-Jul-05

  	
   

  	
  135,250,000.00

  	
   

  
	
  15-Jul-05

  	
   

  	
  15-Aug-05

  	
   

  	
  135,250,000.00

  	
   

  
	
  15-Aug-05

  	
   

  	
  15-Sep-05

  	
   

  	
  135,250,000.00

  	
   

  
	
  15-Sep-05

  	
   

  	
  15-Oct-05

  	
   

  	
  135,250,000.00

  	
   

  
	
  15-Oct-05

  	
   

  	
  15-Nov-05

  	
   

  	
  135,250,000.00

  	
   

  
	
  15-Nov-05

  	
   

  	
  15-Dec-05

  	
   

  	
  135,250,000.00

  	
   

  
	
  15-Dec-05

  	
   

  	
  15-Jan-06

  	
   

  	
  135,250,000.00

  	
   

  
	
  15-Jan-06

  	
   

  	
  15-Feb-06

  	
   

  	
  135,250,000.00

  	
   

  
	
  15-Feb-06

  	
   

  	
  15-Mar-06

  	
   

  	
  135,250,000.00

  	
   

  
	
  15-Mar-06

  	
   

  	
  15-Apr-06

  	
   

  	
  135,250,000.00

  	
   

  
	
  15-Apr-06

  	
   

  	
  15-May-06

  	
   

  	
  135,250,000.00

  	
   

  
	
  15-May-06

  	
   

  	
  15-Jun-06

  	
   

  	
  135,250,000.00

  	
   

  
	
  15-Jun-06

  	
   

  	
  15-Jul-06

  	
   

  	
  135,250,000.00

  	
   

  
	
  15-Jul-06

  	
   

  	
  15-Aug-06

  	
   

  	
  135,250,000.00

  	
   

  
	
  15-Aug-06

  	
   

  	
  15-Sep-06

  	
   

  	
  135,250,000.00

  	
   

  
	
  15-Sep-06

  	
   

  	
  15-Oct-06

  	
   

  	
  135,250,000.00

  	
   

  
	
  15-Oct-06

  	
   

  	
  15-Nov-06

  	
   

  	
  135,250,000.00

  	
   

  
	
  15-Nov-06

  	
   

  	
  15-Dec-06

  	
   

  	
  135,250,000.00

  	
   

  
	
  15-Dec-06

  	
   

  	
  15-Jan-07

  	
   

  	
  135,250,000.00

  	
   

  
	
  15-Jan-07

  	
   

  	
  15-Feb-07

  	
   

  	
  135,250,000.00

  	
   

  
	
  15-Feb-07

  	
   

  	
  15-Mar-07

  	
   

  	
  135,250,000.00

  	
   

  
	
  15-Mar-07

  	
   

  	
  15-Apr-07

  	
   

  	
  135,250,000.00

  	
   

  
	
  15-Apr-07

  	
   

  	
  15-May-07

  	
   

  	
  135,250,000.00

  	
   

  
	
  15-May-07

  	
   

  	
  15-Jun-07

  	
   

  	
  135,250,000.00

  	
   

  
	
  15-Jun-07

  	
   

  	
  15-Jul-07

  	
   

  	
  135,250,000.00

  	
   

  
	
  15-Jul-07

  	
   

  	
  15-Aug-07

  	
   

  	
  135,250,000.00

  	
   

  
	
  15-Aug-07

  	
   

  	
  15-Sep-07

  	
   

  	
  135,250,000.00

  	
   

  
	
  15-Sep-07

  	
   

  	
  15-Oct-07

  	
   

  	
  135,250,000.00

  	
   

  
	
  15-Oct-07

  	
   

  	
  15-Nov-07

  	
   

  	
  135,250,000.00

  	
   

  
	
  15-Nov-07

  	
   

  	
  15-Dec-07

  	
   

  	
  135,250,000.00

  	
   

  
	
  15-Dec-07

  	
   

  	
  15-Jan-08

  	
   

  	
  125,926,073.06

  	
   

  
	
  15-Jan-08

  	
   

  	
  15-Feb-08

  	
   

  	
  110,305,693.65

  	
   

  
	
  15-Feb-08

  	
   

  	
  15-Mar-08

  	
   

  	
  97,925,828.01

  	
   

  
	
  15-Mar-08

  	
   

  	
  15-Apr-08

  	
   

  	
  88,507,090.47

  	
   

  
	
  15-Apr-08

  	
   

  	
  15-May-08

  	
   

  	
  82,177,058.67

  	
   

  
	
  15-May-08

  	
   

  	
  15-Jun-08

  	
   

  	
  77,558,067.14

  	
   

  
	
  15-Jun-08

  	
   

  	
  15-Jul-08

  	
   

  	
  73,770,829.06

  	
   

  
	
  15-Jul-08

  	
   

  	
  15-Aug-08

  	
   

  	
  70,241,823.89

  	
   

  
	
  15-Aug-08

  	
   

  	
  15-Sep-08

  	
   

  	
  66,873,586.34

  	
   

  
	
  15-Sep-08

  	
   

  	
  15-Oct-08

  	
   

  	
  63,648,650.16

  	
   

  
	
  15-Oct-08

  	
   

  	
  15-Nov-08

  	
   

  	
  59,432,070.26

  	
   

  
	
  15-Nov-08

  	
   

  	
  15-Dec-08

  	
   

  	
  53,954,169.57

  	
   

  

 

6Exhibit 4.8

 

 

BACKUP SERVICING AGREEMENT

among

CNH CAPITAL RECEIVABLES LLC,

as Seller

CNH CAPITAL AMERICA LLC,

as Servicer

CNH EQUIPMENT TRUST 2005-A,

as Issuer

and

SYSTEMS & SERVICES TECHNOLOGIES, INC.

as Backup Servicer

Dated as of March 1, 2005

 

 

TABLE OF CONTENTS

 

	
  ARTICLE I

  	
  DEFINITIONS

  	
   

  
	
  SECTION 1.1

  	
  Definitions

  	
   

  
	
  SECTION 1.2

  	
  Usage of Terms

  	
   

  
	
  SECTION 1.3

  	
  Section References

  	
   

  
	
   

  	
   

  	
   

  
	
  ARTICLE II

  	
  ADMINISTRATION
  AND SERVICING OF RECEIVABLES

  	
   

  
	
  SECTION 2.1

  	
  Duties of the Backup
  Servicer

  	
   

  
	
  SECTION 2.2

  	
  Representations
  and Warranties of Backup Servicer

  	
   

  
	
  SECTION 2.3

  	
  Backup Servicing
  Termination

  	
   

  
	
  SECTION 2.4

  	
  Backup
  Servicer Fees; Payment of Expenses by Backup Servicer

  	
   

  
	
   

  	
   

  	
   

  
	
  ARTICLE III

  	
  THE BACKUP
  SERVICER

  	
   

  
	
  SECTION 3.1

  	
  Liability of
  Backup Servicer; Indemnities

  	
   

  
	
  SECTION 3.2

  	
  Limitation on Liability

  	
   

  
	
  SECTION 3.3

  	
  Corporate Existence

  	
   

  
	
  SECTION 3.4

  	
  Insurance

  	
   

  
	
  SECTION 3.5

  	
  Compliance with Laws

  	
   

  
	
   

  	
   

  	
   

  
	
  ARTICLE IV

  	
  TERMINATION
  EVENTS

  	
   

  
	
  SECTION 4.1

  	
  Termination Event

  	
   

  
	
  SECTION 4.2

  	
  Consequences of a
  Termination Event

  	
   

  
	
   

  	
   

  	
   

  
	
  ARTICLE V

  	
  MISCELLANEOUS
  PROVISIONS

  	
   

  
	
  SECTION 5.1

  	
  Waiver; Amendment

  	
   

  
	
  SECTION 5.2

  	
  Governing Law

  	
   

  
	
  SECTION 5.3

  	
  Severability of Provisions

  	
   

  
	
  SECTION 5.4

  	
  Assignment

  	
   

  
	
  SECTION 5.5

  	
  Third-Party Beneficiaries

  	
   

  
	
  SECTION 5.6

  	
  Counterparts

  	
   

  
	
  SECTION 5.7

  	
  Notices

  	
   

  
	
  SECTION 5.8

  	
  Nonpetition Covenants

  	
   

  
	
  SECTION 5.9

  	
  Term

  	
   

  
	
  SECTION 5.10

  	
  Limitation of
  Liability of Trustee

  	
   

  
	
  SECTION 5.11

  	
  Miscellaneous

  	
   

  
	
  SECTION 5.12

  	
  Confidentiality

  	
   

  
				

 

i

 

	
  SECTION 5.13

  	
  Information
  Requests

  	
   

  
	
  SECTION 5.14

  	
  Notice to
  Moody’s

  	
   

  
	
  SECTION 5.16

  	
  Replacement
  of Servicer

  	
   

  

 

	
  Exhibit A

  	
  Sale and Servicing Agreement

  	
   

  
	
  Schedule I

  	
  Description of Verification and
  Confirmation Duties

  	
   

  

 

ii

 

THIS BACKUP SERVICING
AGREEMENT, dated as of March 1, 2005, (this “Agreement”) is made among CNH
CAPITAL AMERICA LLC, a Delaware limited liability company (the “Servicer”), CNH
CAPITAL RECEIVABLES LLC, a Delaware limited liability company (the “Seller”),
CNH EQUIPMENT TRUST 2005-A, a Delaware statutory trust (the “Issuer”), SYSTEMS
& SERVICES TECHNOLOGIES, INC., a Delaware corporation (the “Backup Servicer”
or “SST”).

 

WITNESSETH:

 

WHEREAS, the Servicer,
the Seller and the Issuer have entered into the Sale and Servicing Agreement
dated as of the date hereof (the “Sale and Servicing Agreement”) a copy of
which is attached hereto and made a part hereof as Exhibit A;

 

WHEREAS, the Issuer and
the Servicer desire that the Backup Servicer perform certain backup servicing
duties in accordance with the terms and provisions of this Agreement;

 

WHEREAS, the Issuer
desires that the Backup Servicer assume the role of Successor Servicer under
the terms of the Sale and Servicing Agreement in the event that the Servicer is
terminated thereunder; and

 

WHEREAS, the Backup
Servicer is willing to perform the backup servicing duties specified herein and
assume the role of Successor Servicer under the terms of the Sale and Servicing
Agreement pursuant to the conditions and for the consideration described
herein;

 

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

 

ARTICLE I

DEFINITIONS

 

SECTION 1.1  Definitions.  Unless otherwise specified herein, all terms
defined in the Sale and Servicing Agreement, shall have the same meaning in
this Agreement.  Whenever capitalized and
used in this Agreement, the following words and phrases, unless the context
otherwise requires, shall have the following meanings:

 

Agreement or “this
Agreement”:  This
Backup Servicing Agreement, all amendments and supplements thereto and all
exhibits and schedules to any of the foregoing.

 

Backup Servicer:  Systems & Services Technologies, Inc., in
its capacity as Backup Servicer under this Agreement, and its successors and
assigns in such capacity.

 

Backup Servicer Account:  means the account designated as such,
established and maintained pursuant to Section 5.1(a)(vii) of the Sale and
Servicing Agreement.

 

Backup Servicer Expenses:  is defined in Section 4.12 of the Sale
and Servicing Agreement.

 

 

Backup Servicer
Termination Event:  An
event described in Section 4.1.

 

Backup Servicing Duties:  The duties defined as such in Section 2.1.

 

Backup Servicing Fee:
means the greater of (a) 1/12 of 0.02% of the Pool Balance as of the first day
of each Collection Period and (b) $4,000.

 

Business Day:  means any day other than a Saturday, a Sunday
or a day on which banking institutions or trust companies in The City of New
York, New York, the City of Racine, Wisconsin and the City of St. Joseph,
Missouri are authorized or obligated by law, regulation or executive order to
remain closed.

 

Collection Period:  means, with respect to any Payment Date, the
period from and including the end of the preceding Collection Period (or, if
for the first Payment Date, the day after the Initial Cutoff Date) to and
including the last day of the calendar month preceding the calendar month in
which the Payment Date occurs.

 

Indenture:  means the Indenture dated as of March 1,
2004 between the Issuer and the Indenture Trustee, as the same may be amended
and supplemented from time to time.

 

Indenture Trustee:  means JPMorgan Chase Bank, N.A., a national
banking association, not in its individual capacity but solely as Indenture
Trustee under the Indenture, or any successor Indenture Trustee under the
Indenture.

 

Initial Collection Period:  The Collection
Period ending March 31, 2005.

 

Payment Date:  means, with respect to each Collection
Period, the fifteenth day of the calendar month following the end of that
Collection Period, or, if such day is not a Business Day, the next Business
Day, commencing on April 15, 2005.

 

Person:  Any legal person, including any individual,
corporation, partnership, joint venture, estate, association, joint stock
company, trust, unincorporated organization or government or any agency or
political subdivision thereof, or any other entity.

 

Sale and Servicing
Agreement:  The Sale
and Servicing Agreement attached hereto as Exhibit A, as the same may be
amended from time to time in accordance with its terms and with the written
consent of the Backup Servicer.

 

Servicing Transfer Date:  The Business Day next succeeding the
expiration of the Transfer Period.

 

Transfer Notice:  Written notice from the Indenture Trustee or
Noteholders to the Backup Servicer and the Servicer, (with a copy to the Rating
Agencies, the Noteholders (if given by the Indenture Trustee), the Counterparty
and the Trustee provided by the Indenture Trustee) advising the Backup Servicer
of the transfer of active servicing duties for the Contracts to the Backup
Servicer.

 

2

 

Transfer Period:
 A period of sixty (60) days following
the Backup Servicer’s receipt of a Transfer Notice and ending on the date the
Backup Servicer is to begin Successor Servicer duties for the Contracts and the
related Receivables.

 

Verification and
Confirmation Duties: 
The duties defined as such in Section 2.1(a).

 

SECTION 1.2  Usage of Terms.  With respect to all terms used in this
Agreement, the singular includes the plural and the plural the singular; words
importing any gender include the other gender; references to “writing”  include printing, typing, lithography, and
other means of reproducing words in a visible form; references to agreements
and other contractual instruments include all subsequent amendments thereto or
changes therein entered into in accordance with their respective terms and not
prohibited by this Agreement; references to Persons include their permitted
successors and assigns; and the terms “include” or “including” mean “include
without limitation” or “including without limitation.”

 

SECTION 1.3  Section References.  All references to Articles, Sections,
paragraphs, subsections, exhibits and schedules shall be to such portions of
this Agreement unless otherwise specified.

 

ARTICLE II

ADMINISTRATION AND SERVICING OF RECEIVABLES

 

SECTION 2.1  Duties of the Backup Servicer.

 

(a)                                  Verification
and Confirmation Duties.  The Backup
Servicer agrees to perform all of the duties of the Backup Servicer as
identified on Schedule I hereto (collectively, the “Verification and
Confirmation Duties”) on behalf of the Issuer in accordance with the terms of
this Agreement.

 

(b)                                 Active
Servicing Duties.  Unless and until
the Backup Servicer or another Person is appointed as Successor Servicer, the
Backup Servicer agrees that, in the event the Servicer is terminated or otherwise
ceases to function as the Servicer pursuant to the Sale and Servicing
Agreement, if the Indenture Trustee or Noteholders representing not less than
25% of the Outstanding Amount of Notes shall issue a Transfer Notice to the
Backup Servicer and Servicer, then prior to the expiration of the Transfer
Period, Backup Servicer shall promptly execute a counterpart to the Sale and
Servicing Agreement and thereafter shall assume the rights, obligations and
duties of a Successor Servicer as expressly set forth thereunder.

 

(c)                                  The
Servicer covenants and agrees to perform within three weeks after receipt of
the Transfer Notice (or on such later date as the Issuer and the Backup
Servicer shall agree in writing) the following:

 

(i)                                     The
Servicer shall provide to the Backup Servicer all necessary servicing files and
records relating to the Contracts (as deemed necessary by the Backup Servicer
at such time) and the Servicer shall provide to the Backup Servicer access to
and transfer of records and use by the Backup Servicer of all licenses or
software necessary or desirable to collect the Contracts and the related
Receivables to the extent that any of the foregoing is not prohibited under any
licensing or other agreements with third parties.

 

3

 

(ii)                                  The
Servicer will provide to the Backup Servicer the servicing information
necessary to prepare and distribute the Servicer Certificate required to be
delivered under the Sale and Servicing Agreement.

 

(d)                                 Prior
to the expiration of the Transfer Period, the Servicer will send each Obligor
written notice containing the following information:  (i) the Servicing Transfer Date, (ii) the
address, telephone number and department of the Backup Servicer which is able
to answer questions regarding billing, (iii) notification that the legal terms
and conditions of such Obligor’s obligations will not be affected by the
servicing transfer and (iv) instructions as to how to handle any Contract
related questions.  The Backup Servicer
will consult with the Servicer concerning the form of any such notice.  If the Servicer has failed to send this
notice within three weeks after the Servicing Transfer Date, the Backup
Servicer will send such a notice to each such Obligor on the Backup Servicer’s
or the Servicer’s stationery within four weeks of the later of (A) the date a
counterpart to the Sale and Servicing Agreement executed by the Backup Servicer
is effective and (B) the Servicing Transfer Date.  The Servicer will provide the Backup Servicer
with its stationery in an amount sufficient to allow for the sending of the
notices described in this Section 2.1(d). 
The Servicer hereby irrevocably appoints the Backup Servicer as its
attorney-in-fact for the purpose of sending such notices.

 

(e)                                  Effective
upon the occurrence of the Servicing Transfer Date, the Servicer hereby
irrevocably authorizes and grants to the Backup Servicer an irrevocable
power-of-attorney to take any and all steps in the Servicer’s name and on
behalf of the Servicer that are necessary or desirable to perform its duties
hereunder, including collecting amounts due under the Receivables, endorsing
the Servicer’s name on checks and other instruments representing Collections
and enforcing the Receivables.

 

SECTION 2.2  Representations and Warranties of Backup
Servicer.  The Backup Servicer
represents and warrants as of the date of execution and delivery of this
Agreement:

 

(i)                                     Organization
and Good Standing.  The Backup
Servicer has been duly organized and is validly existing and in good standing
under the laws of its jurisdiction of organization, with power, authority and
legal right to own its properties and to conduct its business as such
properties are currently owned and such business is currently conducted, and
had at all relevant times, and now has, power, authority and legal right to
enter into and perform its obligations under this Agreement;

 

(ii)                                  Due
qualification.  The Backup Servicer
is duly qualified to do business as a foreign corporation in good standing, and
has obtained all necessary licenses and approvals, in all jurisdictions where
the failure to do so would materially and adversely affect the performance of
its obligations under this Agreement;

 

(iii)                               Power
and Authority.  The Backup Servicer
has the power and authority to execute and deliver this Agreement and to carry
out the terms hereof; and the execution, delivery and performance of this
Agreement have been duly authorized by the Backup Servicer by all necessary
corporate action;

 

4

 

(iv)                              Binding
Obligation.  This Agreement
constitutes the legal, valid and binding obligation of the Backup Servicer
enforceable in accordance with its terms, except as enforceability may be
limited by bankruptcy, insolvency, reorganization or other similar laws
affecting the enforcement of creditors rights generally and by equitable
limitations on the availability of specific remedies, regardless of whether
such enforceability is considered in a proceeding in equity or at law;

 

(v)                                 No
Violation.  The execution and
delivery of this Agreement, 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, or both) a default under, the
certificate of incorporation or bylaws of the Backup Servicer, or any
indenture, agreement, mortgage, deed of trust or other instrument to which the
Backup Servicer 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, mortgage, deed of trust or other instrument,
other than this Agreement, or violate any law, order, rule or regulation
applicable to the Backup Servicer of any court or of any federal or State
regulatory body, administrative agency or other governmental instrumentality
having jurisdiction over the Backup Servicer or any of its properties;

 

(vi)                              No
Proceedings.  There are no
proceedings or investigations pending or, to the Backup Servicer’s knowledge,
threatened against the Backup Servicer, before any court, regulatory body,
administrative agency or other tribunal or governmental instrumentality having
jurisdiction over the Backup Servicer 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 might materially and adversely affect the
performance by the Backup Servicer of its obligations under, or the validity or
enforceability of, this Agreement; and

 

(vii)                           No
Consents.  The Backup Servicer is not
required to obtain the consent of any other party or any consent, license,
approval or authorization, or registration or declaration with, any
governmental authority, bureau or agency in connection with the execution,
delivery, performance, validity or enforceability of this Agreement.

 

SECTION 2.3  Backup Servicing Termination.

 

(a)                                  Prior
to the time the Backup Servicer receives a Transfer Notice, this Agreement may
be terminated upon delivery of thirty (30) days advance written notice to the
Backup Servicer of such termination. 
This Agreement shall be terminated pursuant to the previous sentence if
(A) (i) the Servicer notifies the Issuer in writing that the Servicer has
engaged a replacement backup servicer or a Successor Servicer, (ii) the
agreement with such replacement backup servicer or Successor Servicer, as the
case may be, is reasonably satisfactory to the Issuer in form and substance and
(iii) the identity of such replacement backup servicer or Successor
Servicer, as the case may be, is acceptable to the Issuer in its sole
discretion, (B) Moody’s has advised the Issuer that the termination of this
Agreement will not result in a

 

5

 

downgrade or withdrawal of its ratings on the Notes or
(C) CNH Global N.V.’s long term unsecured debt credit rating by Moody’s rises
to “Ba2” or higher.

 

(b)                                 Prior
to the time the Backup Servicer receives a Transfer Notice, the Backup Servicer
may terminate this Agreement for any reason in its sole judgment and discretion
upon delivery of one hundred twenty (120) days advance written notice to the
Issuer of such termination.  In the event
that the Backup Servicer delivers notice pursuant to the foregoing sentence,
the Servicer agrees to cooperate with the Issuer, and to take such actions as
the Issuer may reasonably request, in order to appoint a replacement backup
servicer as promptly as possible.

 

SECTION 2.4  Backup Servicer Fees; Payment of Expenses
by Backup Servicer.  Unless and until
the Backup Servicer or another Person is appointed as Successor Servicer, on
the Payment Date relating to the Initial Collection Period and each Payment
Date thereafter the Backup Servicer shall be entitled to receive the Backup
Servicer Fees in accordance with the terms of the Sale and Servicing Agreement
and the Indenture.  The Backup Servicer
shall further receive all reimbursable Backup Servicer Expenses in accordance
with the terms of the Sale and Servicing Agreement and the Indenture.  The Backup Servicer shall be required to pay
all other expenses incurred by it in connection with its activities under this
Agreement (including taxes imposed on the Backup Servicer and all expenses
incurred in connection with reports to the Issuer).

 

ARTICLE III

THE BACKUP SERVICER

 

SECTION 3.1  Liability of Backup Servicer; Indemnities.

 

(a)                                  The
Backup Servicer shall be liable hereunder only to the extent of the obligations
in this Agreement specifically undertaken by the Backup Servicer and the
representations made by the Backup Servicer. 
Other than as specifically set forth in this Backup Servicing Agreement,
the Backup Servicer shall have no obligation to supervise, verify, monitor or
administer the performance of the Servicer and shall have no liability for any
action taken or omitted by the Servicer.

 

(b)                                 The
Backup Servicer shall indemnify, defend and hold harmless the Servicer, the
Issuer and their respective officers, directors, agents and employees from and
against any and all costs, expenses, losses, claims, damages and liabilities to
the extent that such cost, expense, loss, claim, damage or liability arose out
of, or was imposed upon the Servicer or the Issuer through the Backup Servicer’s
breach of this Agreement, the negligence, willful misfeasance or bad faith of
the Backup Servicer in the performance of its duties under this Agreement or by
reason of reckless disregard of its obligations and duties under this
Agreement.

 

(c)                                  The
Servicer shall indemnify, defend and hold harmless the Backup Servicer and its
respective officers, directors, agents and employees from and against any and
all costs, expenses, losses, claims, damages and liabilities to the extent that
such cost, expense, loss, claim, damage or liability arose out of, or was
imposed upon the Backup Servicer through the Servicer’s breach of this
Agreement, the negligence, willful misfeasance or bad faith of the

 

6

 

Servicer in the performance of its duties under this
Agreement or by reason of reckless disregard of its obligations and duties
under this Agreement.

 

(d)                                 The
Issuer shall (solely from amounts paid pursuant to Section 5.6(b)(x) of
the Sale and Servicing Agreement) indemnify, defend and hold harmless the
Backup Servicer and its respective officers, directors, agents and employees
from and against any and all costs, expenses, losses, claims, damages and
liabilities to the extent that such cost, expense, loss, claim, damage or
liability arose out of, or was imposed upon the Backup Servicer through the
Issuer’s breach of this Agreement, the negligence, willful misfeasance or bad
faith of the Issuer in the performance of its duties under this Agreement or by
reason of reckless disregard of its obligations and duties under this
Agreement.

 

(e)                                  The
Backup Servicer may accept and reasonably rely on all accounting and servicing
records and other documentation provided to the Backup Servicer by or at the
direction of the Servicer, including documents prepared or maintained by any
Originator, or Servicer, or any party providing services related to the
Receivables (collectively “Third Party”). 
The Servicer agrees to indemnify (subject to the limitation provided in Section 3.2
below) and hold harmless the Backup Servicer, its respective officers,
employees and agents against any and all claims, losses, penalties, fines,
forfeitures, legal fees and related costs, judgments, and any other costs, fees
and expenses that the Backup Servicer may sustain in any way related to the
negligence or misconduct of any Third Party with respect to the
Receivables.  The Backup Servicer shall
have no duty, responsibility, obligation or liability (collectively “Liability”)
for the acts or omissions of any such Third Party.  If any error, inaccuracy or omission
(collectively “Error”) exists in any information provided to the Backup
Servicer and such Errors cause or materially contribute to the Backup Servicer
making or continuing any Error (collectively “Continuing Errors”), the Backup
Servicer shall have no liability for such Continuing Errors; provided, however,
that this provision shall not protect the Backup Servicer against any liability
which would otherwise be imposed by reason of willful misconduct, bad faith or
negligence in discovering or correcting any Error or in the performance of its
duties contemplated herein.

 

In the event the Backup
Servicer becomes aware of Errors and/or Continuing Errors which, in the opinion
of the Backup Servicer, impair its ability to perform its services hereunder,
the Backup Servicer shall promptly notify the Servicer and the Indenture
Trustee of such Errors and/or Continuing Errors.  The Backup Servicer shall discuss such Errors
with the Servicer, and the Servicer and the Backup Servicer shall use their
reasonable efforts to correct such Errors. 
If after such discussion such Errors are not promptly corrected, with
the prior consent of the Indenture Trustee, the Backup Servicer may undertake
to reconstruct any data or records appropriate to correct such Errors and/or
Continuing Errors and to prevent future Continuing Errors.  The Backup Servicer shall be entitled to
recover its costs thereby expended as Backup Servicer Expenses in accordance
with the Sale and Servicing Agreement and the Indenture.

 

(f)                                    Indemnification
under this Article shall include, without limitation, reasonable fees and
expenses of counsel (including but not limited to counsel who may be employees
of the Backup Servicer) and expenses of litigation.  If the indemnifying party has made any
indemnity payments pursuant to this Article and the recipient thereafter
collects any of

 

7

 

such amounts from others, the recipient shall promptly
repay such amounts collected to the indemnifying party, together with any
interest earned thereon.

 

(g)                                 The
provisions of this Section shall survive the termination of this
Agreement.

 

SECTION 3.2  Limitation on Liability.  Neither the Backup Servicer, the Servicer,
the Issuer nor any of their respective directors or officers or employees or
agents shall be under any liability to the other, or any party to the Basic
Documents except as provided in this Agreement, for any action taken or for
refraining from the taking of any action in good faith pursuant to this
Agreement; provided,  however, that this provision shall not
protect the Backup Servicer, the Servicer, the Issuer or any such Person against
any liability that would otherwise be imposed by reason of a breach of this
Agreement, the inaccuracy of any of their respective representations or
warranties set forth in this Agreement or willful misfeasance, bad faith or
negligence in the performance of their respective duties, by reason of reckless
disregard of obligations and duties under this Agreement or any violation of
law by the Backup Servicer, the Servicer, the Issuer or such Person, as the
case may be.  The Backup Servicer, the
Servicer, the Issuer and any of their respective directors, officers, employees
or agents may rely in good faith on the advice of counsel (including but not
limited to counsel who may be employees of the Backup Servicer or the Servicer,
as the case may be) or on any document of any kind prima facie properly
executed and submitted by any Person respecting any matters arising under this
Agreement.

 

SECTION 3.3  Corporate Existence.  The Backup Servicer shall maintain its
existence and rights as a corporation under the laws of the jurisdiction of its
incorporation, and will obtain and preserve its qualification to do business as
a foreign corporation in each jurisdiction in which the failure to so qualify
would have an adverse effect on the validity or enforceability of any
Receivable or this Agreement or on the ability of the Backup Servicer to
perform its duties under this Agreement.

 

SECTION 3.4  Insurance.  The Backup Servicer shall maintain adequate
insurance in amounts and with terms customarily subscribed by companies in the
same industry performing similar functions to those of the Backup Servicer in
its role as Backup Servicer or Successor Servicer, as applicable.

 

SECTION 3.5  Compliance with Laws.  The Backup Servicer covenants with the
parties hereto that, upon the expiration of the Transfer Period, the practices
used or to be used by the Backup Servicer to monitor collections with respect
to the Contracts and repossess and dispose of the Financed Equipment related to
the contracts will be, in all material respects, legal, proper and in
conformity with the requirements of all applicable federal and State laws,
rules and regulations.  Upon the
expiration of the Transfer Period, the Backup Servicer will be in possession of
all State and local licenses (including all debt collection licenses) required
for it to perform its services hereunder, and none of such licenses shall have
been suspended, revoked or terminated.

 

8

 

ARTICLE IV

TERMINATION EVENTS

 

SECTION 4.1  Termination Event.  For purposes of this Agreement, each of the
following shall constitute a Termination Event (subsections (a) through (d)
shall further constitute a “Backup Servicer Event of Default”):

 

(a)                                  Failure
on the part of the Backup Servicer duly to observe or perform in any material
respect any covenant or agreement of the Backup Servicer set forth in this
Agreement, which failure continues unremedied for a period of 30 days after the
date on which written notice of such failure, requiring the same to be
remedied, shall have been given to the Backup Servicer by the Servicer; or

 

(b)                                 (i) The
commencement of an involuntary case under the federal bankruptcy laws, as now
or hereinafter in effect, or another present or future federal or State
bankruptcy, insolvency or similar law and such case is not dismissed within 60
days; or (ii) the entry of a decree or order for relief by a court or
regulatory authority having jurisdiction in respect of the Backup Servicer in
an involuntary case under the federal bankruptcy laws, as now or hereafter in
effect, or another present or future, federal or State, bankruptcy, insolvency
or similar law, or appointing a receiver, liquidator, assignee, trustee,
custodian, sequestrator or other similar official of the Backup Servicer or of
any substantial part of its properties or ordering the winding up or
liquidation of the affairs of the Backup Servicer; or

 

(c)                                  The
commencement by the Backup Servicer of a voluntary case under the federal
bankruptcy laws, as now or hereafter in effect, or any other present or future
federal or State bankruptcy, insolvency or similar law, or the consent by the
Backup Servicer to the appointment of or taking possession by a receiver,
liquidator, assignee, trustee, custodian, sequestrator or other similar
official of the Backup Servicer or of any substantial part of its property or
the making by the Backup Servicer of an assignment for the benefit of creditors
or the failure by the Backup Servicer generally to pay its debts as such debts
become due or the taking of corporate action by the Backup Servicer in
furtherance of any of the foregoing; or

 

(d)                                 Any
representation, warranty or statement of the Backup Servicer made in this
Agreement or any certificate, report or other writing delivered by the Backup
Servicer pursuant hereto shall prove to be incorrect in any material respect as
of the time when the same shall have been made and, within thirty (30) days
after written notice thereof shall have been given to the Backup Servicer by
the Servicer, the circumstances or condition in respect of which such
representation, warranty or statement was incorrect shall not have been waived,
eliminated or otherwise cured; or

 

(e)                                  Failure
on the part of the Backup Servicer to receive Backup Servicer Fees or Backup
Servicer Expenses as and when due as set forth in the Sale and Servicing
Agreement and the Indenture, which failure shall not be cured within twenty
(20) days after the date on which written notice of such failure shall have
been received by the Servicer and the Issuer.

 

9

 

SECTION 4.2  Consequences of a Termination Event.

 

(a)                                  If
a Backup Servicer Event of Default (as defined in Section 4.1 above) shall
occur and be continuing, the Servicer may, by notice given in writing to the
Backup Servicer, terminate all of the rights and obligations of the Backup
Servicer under this Agreement, except as set forth in Sections 3.1(c), (d), (e)
and (f).  On or after the receipt by the
Backup Servicer of such written notice, all authority, power, obligations and
responsibilities of the Backup Servicer under this Agreement shall be
terminated.  The terminated Backup
Servicer agrees to cooperate with the Servicer in effecting the termination of
the responsibilities and rights of the terminated Backup Servicer under this
Agreement.

 

(b)                                 Notwithstanding
any other provision of this Agreement, in the event of a Termination Event
pursuant to Section 4.1(e), this Agreement shall terminate upon expiration
of the given cure period, and the Backup Servicer shall then have no
obligations or responsibilities under this Agreement, except as set forth in Section 3.1(f).

 

ARTICLE V

MISCELLANEOUS PROVISIONS

 

SECTION 5.1  Waiver; 
Amendment.  Neither this
Agreement nor any provision hereof may be waived, amended or modified orally,
but only by an instrument in writing signed by the Servicer, the Seller, the
Backup Servicer, the Indenture Trustee and the Issuer; provided that any
such amendment shall not materially and adversely affect the interests of any
Noteholder; provided, further, that any such amendment shall be
deemed not to materially and adversely affect the interests of any Noteholder
if the Rating Agency Condition is satisfied. 
Notwithstanding anything herein to the contrary, any term or provision
of this Agreement may be amended by the Servicer and the Seller without the
consent of 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 5.2  Governing Law.  THIS AGREEMENT SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD
TO THE PRINCIPLES OF CONFLICTS OF LAWS THEREOF AND THE OBLIGATIONS, RIGHTS AND
REMEDIES OF THE PARTIES UNDER THIS AGREEMENT SHALL BE DETERMINED IN ACCORDANCE
WITH SUCH LAWS.

 

SECTION 5.3  Severability of Provisions.  If any one or more of the covenants,
agreements, provisions or terms of this Agreement shall be for any reason
whatsoever held invalid, then such covenants, agreements, provisions or terms
shall be deemed severable from the remaining covenants, agreements, provisions
or terms of this Agreement and shall in no way affect the validity or
enforceability of the other provisions of this Agreement.

 

SECTION 5.4  Assignment.  Notwithstanding anything to the contrary
contained in this Agreement, this Agreement may not be assigned by the Backup
Servicer without the prior written consent of the Servicer.

 

10

 

SECTION 5.5  Third-Party Beneficiaries.  This Agreement shall inure to the benefit of
and be binding upon the parties hereto and their respective successors and
permitted assigns.  Nothing in this
Agreement, express or implied, shall give to any Person, other than the parties
hereto, their successors hereunder and the Persons entitled to be indemnified
pursuant to Section 3.1, any benefit or any legal or equitable right,
remedy or claim under this Agreement.

 

SECTION 5.6  Counterparts.  For the purpose of facilitating its execution
and for other purposes, this Agreement may be executed simultaneously in any
number of counterparts, each of which counterparts shall be deemed to be an
original, and all of which counterparts shall constitute but one and the same
instrument.

 

SECTION 5.7  Notices.  All demands, notices and communications under
this Agreement shall be in writing, personally delivered or mailed, or by
facsimile transmission, (a) in the case of the Backup Servicer, at the
following address: 4315 Pickett Road, St. Joseph, Missouri 64503 Attention:
John J. Chappell and Joseph D. Booz, Facsimile Number (816)-671-2038 and (b) in
the case of the Servicer, at the following address: CNH Capital America LLC,
100 South Saunders Road, Lake Forest, Illinois 60045, Attention of: Assistant
Treasurer, Facsimile Number (847) 955-4943 and (c) in the case of the Issuer,
at the following address:  CNH Equipment
Trust 2005-A, in care of The Bank of New York, 101 Barclay Street, Floor 8W,
New York, New York 10286, Attention: 
Corporate Trust Administration-Asset Backed Finance Unit, Facsimile
Number (212) 815-2493 and (d) in the case of the Seller, to CNH Capital
Receivables LLC, 100 South Saunders Road, Lake Forest, Illinois 60045,
Attention of: Assistant Treasurer, Facsimile Number (847) 955-4943 and (e) in
the case of the Indenture Trustee, at its Corporate Trust Office; or at such
other address as shall be designated by any such party in a written notice to
the other parties.  All such notices and communications shall be
effective, upon receipt, or in the case of (i) notice by mail, five days after
being deposited in the United States mail, first class postage prepaid, (ii)
notice by telex, when telexed against receipt of answer back, or (iii) notice
by facsimile copy, when verbal communication of receipt is obtained.

 

SECTION 5.8  Nonpetition Covenants.  Notwithstanding any prior termination of this
Agreement, the Backup Servicer, the Servicer and the Indenture Trustee shall
not, prior to the date that is one year and one day after the payment in full
of all securities issued by Issuer or any other special purpose entity to which
Seller transfers receivables, which securities are rated at issuance by a
nationally recognized statistical rating organization, with respect to the
Issuer or the Seller, acquiesce, petition or otherwise invoke or cause the
Issuer or the Seller to invoke the process of any court or governmental
authority for the purpose of commencing or sustaining a case against the Issuer
or the Seller under any federal or state bankruptcy, insolvency or similar law
or appointing a receiver, liquidator, assignee, trustee, custodian,
sequestrator or other similar official of the Issuer or the Seller or any
substantial part of its property, or ordering the winding up or liquidation of
the affairs of the Issuer or the Seller. The foregoing shall not limit the
right of the Backup Servicer, the Servicer or the Indenture Trustee to file any
claim in or otherwise take any action with respect to any such insolvency
proceeding that was instituted against the Issuer or the Seller by any Person
other than the Backup Servicer, the Servicer or the Indenture Trustee.

 

SECTION 5.9  Term. 
The provisions of this Agreement and the duties and obligations of the
Backup Servicer hereunder shall commence on the date hereof and shall continue
in full

 

11

 

force and effect until either (i) if SST is not then
the Successor Servicer, the Notes have been repaid in their entirety or (ii)
the Pool Balance equals zero, unless earlier terminated pursuant to the terms
of this Agreement.

 

SECTION 5.10  Limitation of Liability of Trustee.  Notwithstanding anything contained herein to
the contrary, this Agreement has been countersigned by The Bank of New York,
not in its individual capacity but solely in its capacity as Owner Trustee of
the Issuer, and in no event shall The Bank of New York, in its individual
capacity or, except as expressly provided in the Trust Agreement, any
beneficial owner of the Issuer 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.

 

SECTION 5.11  Miscellaneous.  In connection with its execution and
performance of this Agreement, the Issuer is entitled to all rights,
privileges, benefits and indemnities provided to it under the Sale and
Servicing Agreement.

 

SECTION 5.12  Confidentiality.  SST shall maintain, and shall cause each
officer, employee and agent of itself and its affiliates to maintain, the
confidentiality of this Backup Servicing Agreement, the Basic Documents and all
other confidential proprietary information with respect to the Servicer, NH
Credit, the Seller and CNH Global N.V. and their affiliates and successors and
each of their respective businesses obtained by SST in connection with the
structuring, negotiation and execution of the transactions contemplated herein
and in the other Basic Documents or as otherwise provided to SST from time to
time due to its role as Backup Servicer or Successor Servicer, except for
information that has become publicly available or information disclosed (i) to
legal counsel, accountants and other professional advisors to SST, (ii) as
required by law, regulation or legal process, (iii) in connection with any
legal or regulatory proceeding to which SST or any of their affiliates is
subject or (iv) any other disclosure with the prior written consent of CNHCA.

 

SECTION 5.13  Information Requests.  The parties hereto shall provide any
information reasonably requested by the Servicer or the Seller or any of their
Affiliates, at the expense of such party, in order to comply with or obtain
more favorable treatment under any current or future law, rule, regulation,
accounting rule or principle.

 

SECTION 5.14  Notice to Moody’s.  The Servicer shall notify Moody’s upon the
termination of this Agreement pursuant to Section 2.3 or the termination
of SST as Backup Servicer pursuant to Section 4.2.

 

SECTION 5.15  Replacement of Servicer.  Notwithstanding anything herein or in any
other Basic Documents to the contrary, upon giving the notice required in Section 10.15 of the Sale and Servicing Agreement and
satisfaction of the Rating Agency Condition, New Holland Credit Company, LLC
will assume all of the rights and obligations of CNH Capital America LLC (or
its successor) as Servicer under the Sale and Servicing Agreement and the other
Basic Documents, and succeed CNH Capital America LLC as Servicer under the Sale
and Servicing Agreement and the other Basic Documents, each as of the effective
date set forth in such notice,

 

12

 

without the prior written consent of any party, and
without the need for entering into any supplemental or additional
documentation.

 

[The balance of this page has been intentionally left blank]

 

13

 

IN WITNESS WHEREOF, the
Servicer, the Issuer, the Backup Servicer, the Seller and the Indenture Trustee
have caused this Backup Servicing Agreement to be duly executed by their
respective officers as of the day and year first above written.

 

	
   

  	
  CNH CAPITAL AMERICA LLC, as
  Servicer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/  BRIAN
  O'KEANE

  
	
   

  	
  Name:

  	
  Brian O'Keane

  
	
   

  	
  Title:

  	
  Assistant Treasurer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  CNH CAPITAL RECEIVABLES LLC, as
  Seller

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ BRIAN O'KEANE

  
	
   

  	
  Name:

  	
  Brian O'Keane

  
	
   

  	
  Title:

  	
  Assistant Treasurer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  CNH EQUIPMENT TRUST 2005-A, as Issuer

  
	
   

  	
   

  
	
   

  	
  By:

  	
  The Bank of New York, not in its individual

  capacity but solely as Owner Trustee

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/  CATHERINE
  MURRAY

  
	
   

  	
   

  	
  Name:

  	
   Catherine
  Murray

  
	
   

  	
   

  	
  Title:

  	
  Assistant Treasurer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  SYSTEMS
  & SERVICES TECHNOLOGIES,

  INC., as Backup Servicer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ KIMBERLY COSTA

  
	
   

  	
  Name:

  	
  Kimberly Costa

  
	
   

  	
  Title:

  	
  Vice President

  
									

 

S-1

 

ACKNOWLEDGED AND AGREED:

 

JPMORGAN CHASE BANK, N.A., as
Indenture Trustee

 

 

	
  By:

  	
  /s/ KEITH RICHARDSON

  	
   

  
	
  Name:

  	
   Keith Richardson

  	
   

  
	
  Title:

  	
   Attorney-in-fact

  	
   

  
					

 

S-2

 

SCHEDULE I

 

DESCRIPTION OF VERIFICATION AND CONFIRMATION DUTIES

(BACKUP SERVICING)

 

The Backup Servicer shall
provide the following services related to backup servicing in connection with
the Contracts.

 

(i)                                     The
Backup Servicer will work with the Servicer’s personnel to obtain the necessary
systems and data information from the servicing systems in use by the Servicer
(the “Initial Data File Data Layouts and Definitions” as set forth in [Appendix
A]).  Using this information, the Backup
Servicer will create a set of conversion routines and database mapping
programs, as necessary, that will enable the Backup Servicer to receive data
from the Servicer on a monthly basis (at the time and in the manner specified
in Section 2.1(a) of the Backup Servicing Agreement) and to ensure that
the data is readable.

 

(ii)                                  On
a monthly basis, commencing with the Initial Collection Period, the Backup
Servicer shall (x) verify receipt of the Monthly Data Files, as set forth in
Appendix B, required to be delivered by the Servicer (at the time and in the
manner specified in Section 2.1(a) of the Backup Servicing Agreement) and
(y) verify that the records and data contained in the monthly data files are in
a readable format.

 

(iii)                               On
the 10th Business Day after receipt of the Monthly Data Files and the Servicer’s
Certificate from the Servicer, the Backup Servicer shall notify the Servicer
that (i) the Backup Servicer has reviewed the Monthly Data Files for the
related Collection Period, (ii) a review of the information concerning
delinquency aging, defaults and ending Contract Value reflected on the Servicer’s
Certificate has been made and (iii) to the best of SST’s knowledge using its
best reasonable efforts, the data in such Monthly Data Files ties to such items
on the Servicer’s Certificate, resulting in no discrepancies between them.  If the preceding statement cannot be made in
the affirmative, SST shall notify the Servicer of the nature of any and all
discrepancies.  The Backup Servicer and
the Servicer shall attempt to reconcile all discrepancies with respect to such
Servicer’s Certificate. The effect, if any, of such reconciliation shall be
reflected in the next succeeding Servicer’s Certificate.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00081-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00081-of-00352.parquet"}]]