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                                                                   EXHIBIT 10.19

                    AMENDED AND RESTATED EMPLOYMENT AGREEMENT

                  THIS AMENDED AND RESTATED EMPLOYMENT AGREEMENT, dated and
effective the 1st day of November, 2000 (the "Effective Date") is made by and
between Global TeleSystems, Inc., a Delaware corporation (the "Company") and
GRIER C. RACLIN, an adult resident of Chevy Chase, Maryland (the "Executive").

RECITALS:

                  A. The Executive has heretofore been employed by the Company
pursuant to that certain Employment Agreement between the Executive and the
Company dated as of September 28, 1997 (the "Prior Agreement");

                  B. It is the desire of the Company to assure itself of the
continued services of Executive by engaging Executive as its Executive
Vice-President, General Counsel and Chief Administrative Officer; and

                  C. Executive desires to continue to serve the Company on the
terms herein provided;

                  NOW, THEREFORE, in consideration of the foregoing and of the
respective covenants and agreements set forth below, the parties hereto agree as
follows:

                  1. Certain Definitions.

                   (a) "Annual Base Salary" shall have the meaning set forth in
           Section 5(a).

                   (b) "Board" shall mean the Board of Directors of the Company.

                   (c) "Bonus" shall have the meaning set forth in Section 5(b).

                   (d) The Company shall have "Cause" to terminate Executive's
           employment hereunder upon Executive's

                           (i) failure to follow a legal order of the Board or
                  the Chief Executive Officer of the Company, other than any
                  such failure resulting from Executive's Disability, after
                  notice and reasonable opportunity for cure,

                           (ii) fraud, embezzlement, or any other similar
                  illegal act involving moral turpitude committed by the
                  Executive in connection with the Executive's duties as an
                  executive of the Company or any subsidiary or affiliate of the
                  Company,

                           (iii) conviction of any felony or crime involving
                  moral turpitude which causes or may reasonably be expected to
                  cause substantial economic injury to or substantial injury to
                  the reputation of the Company or any subsidiary or affiliate
                  of the Company, or

                           (iv) willful or grossly negligent commission of any
                  other act or failure to act in connection with the Executive's
                  duties as an executive of the Company which causes or may
                  reasonably be expected (as of the time of such

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                  occurrence) to cause substantial economic injury to or
                  substantial injury to the reputation of the Company or any
                  subsidiary or affiliate of the Company, including, without
                  limitation, any material violation of the Foreign Corrupt
                  Practices Act, as described herein below.

                    (e) "Change in Control" shall mean any of the following
           events:

                           (i) a report shall be filed with the Securities and
                  Exchange Commission pursuant to the Exchange Act of 1934 (the
                  "Act), or successor law or provision, disclosing that any
                  "Person" (within the meaning of Section 13(d) of the Act),
                  other than the Company or a subsidiary of the Company, or an
                  employee benefit plan sponsored by the Company or a subsidiary
                  of the Company is, or becomes the beneficial owner (as such
                  term is defined in Exchange Act Rule 13d-3), directly or
                  indirectly of, 25% or more of the outstanding voting stock of
                  the Company (or securities convertible into Company Stock)
                  (calculated as provided in Exchange Act Rule 13d-3(d) in the
                  case of rights to acquire Company Stock),

                           (ii) any such "Person", other than the Company or a
                  subsidiary of the Company, or a employee benefit plan
                  sponsored by the Company or a Subsidiary of the Company, shall
                  purchase shares pursuant to a tender offer or exchange offer
                  to acquire any Company Stock (or securities convertible into
                  Company Stock) for cash, securities or any other
                  consideration, provided that after consummation of the offer,
                  the person in question is the beneficial owner (as such term
                  is defined in Exchange Act Rule 13d-3), directly or
                  indirectly, of 20% or more of the outstanding voting stock of
                  the Company (calculated as provided in Exchange Act Rule
                  13d-3(d) in the case of rights to acquire Company Stock),

                           (iii) the stockholders of the Company shall approve
                  (A) any consolidation, share exchange or merger of the Company
                  (a "Change of Control Transaction") (1) in which the
                  stockholders of the Company immediately prior to such Change
                  of Control Transaction do not own at least a majority of the
                  voting power of the entity which survives/results from such
                  Change of Control Transaction, or (2) in which a shareholder
                  of the Company immediately before such Change of Control
                  Transaction, but who does not own a majority of the voting
                  stock of the Company immediately prior to such Change of
                  Control Transaction, owns a majority of the Company's voting
                  stock after such Change of Control Transaction; or (B) any
                  sale, lease, exchange or other transfer (in one transaction or
                  a series of related transactions) of all or substantially all
                  the assets of the Company, including stock held in subsidiary
                  corporations or interests held in subsidiary ventures, or

                           (iv) there shall have been a change in a majority of
                  the members of the Board within a 24-month period unless the
                  election or nomination for election by the Company's
                  stockholders of each new director during such 24-month period
                  was approved by the vote of two-thirds of the directors then
                  still in office who were directors at the beginning of such
                  24-month period; or

                           (v) the Company shall file a report with the
                  Securities and Exchange Commission on Form 8-K (or any
                  successor thereto), that a change in control of or over the
                  Company has occurred.

                    (f) "Code" shall mean the Internal Revenue Code of 1986, as
           amended.

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                    (g) "Committee" shall mean either the Compensation Committee
           or a SubCommittee of such Committee duly appointed by the Board.

                    (h) "Company" shall have the meaning set forth in the
           preamble hereto.

                    (i) "Company Stock" shall mean the $.10 par value common
           stock of the Company.

                    (j) "Date of Termination" shall mean (i) if Executive's
           employment is terminated by Executive's death, the date of
           Executive's death and (ii) if Executive's employment is terminated
           pursuant to Section 6(a)(ii) - (vi) the date specified in the Notice
           of Termination.

                    (k) "Disability" shall mean the absence of Executive from
           Executive's duties to the Company on a full-time basis for a total of
           six months during any 12-month period as a result of incapacity due
           to mental or physical illness which is determined to be reasonably
           likely to extend beyond the twelve-month period and which
           determination is made by a physician selected by the Company and
           acceptable to Executive or Executive's legal representative (such
           agreement as to acceptability not to be withheld unreasonably). A
           Disability shall not be "incurred" hereunder until, at the earliest,
           the last day of the sixth month of such absence.

                    (l) "Executive" shall have the meaning set forth in the
           preamble hereto.

                    (m) "Good Reason" shall mean any of the following events
           which is not cured by the Company within 15 days after written notice
           thereof is given to the Company by Executive: (i) any reduction in
           Executive Base Salary or Target Bonus as established from time to
           time, or failure to pay Executive's Base Salary or Bonus when due to
           Executive; (ii) any other material breach by the Company of any
           material term of this Agreement; (iii) any material adverse change in
           Executive's job titles, duties, responsibilities, status, reporting
           responsibilities or perquisites granted hereunder, without
           Executive's consent; or (iv) and change in the principal location of
           Executive's employed more than 50 miles from its then-current
           location without the Executive's consent. Except as set forth in
           Section 4 hereof or as otherwise agreed in writing by the Company,
           "Good Reason" shall cease to exist for an event on the 30th day
           following the later of its occurrence or Executive's knowledge
           thereof, unless Executive has given the Company notice thereof prior
           to such date.

                    (n) "Notice of Termination" shall have the meaning set forth
           in Section 6(b).

                    (o) "Options" shall have the meaning set forth in Section
           5(c).

                    (p) "Prior Agreement" shall have the meaning set forth in
           the preamble hereto.

                    (q) "Restricted Shares" shall have the meaning set forth in
           Section 5(d).

                    (r) "Restructuring Actions" shall mean all of the following
           events: (i) the sale of some or all of the company's interest in
           Golden Telecom, Inc. (GTI) and/or

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           some or all of the Company's interest in the company's Central
           European subsidiaries (GTS Hungaro, Inc., GTS Hungary Holding, Inc.,
           GTS Poland, Inc., GTS Czech, Inc., GTS Romania, Inc. and GTS Slovakia
           s.r.o.), or their assets, for at least $150 million in total; (ii)
           the refinancing of Ebone with at least $550 million from one or a
           combination of (1) bank financing, (2) other external debt or equity
           financing, or (3) the proceeds of asset sales, including the sale of
           GTI or the Central Europe Subsidiaries to the extent those proceeds
           exceed $150 million; and (iii) the sale (to some or all of the
           holders of the publicly-traded bonds issued by Global TeleSystems
           (Europe) Ltd., or, with such bondholder's' consent, to members of the
           Company's management or to a third party) or wind-down of
           substantially all of the companies and businesses currently
           constituting the Company's "Business Services" Division.

                    (s) "Stock Option Plan" shall mean, as applicable to the
           relevant Options, the Fifth Amended and Restated 1992 Stock Option
           Plan of Global TeleSystems Group, Inc., the 2000 Stock Option Plan of
           Global TeleSystems, Inc., or any successor plans.

                    (t) "Term" shall have the meaning set forth in Section 2.

                  2. Employment Term. The Company hereby continues to employ the
Executive, and the Executive hereby accepts continued employment, under the
terms and conditions hereof, for the period (the "Term") beginning on the
effective date hereof and ending upon the Date of Termination as set forth
herein.

                  3. Position and Duties. Executive shall serve as Executive
Vice-President, General Counsel and Chief Administrative Officer of the Company,
reporting to the Chief Executive Officer, with such responsibilities, duties and
authority as are customary for such role. Executive shall devote all necessary
business time and attention, and employ Executive's reasonable best efforts,
toward the fulfillment and execution of all assigned duties, and the
satisfaction of defined annual and/or longer-term performance criteria.

                  4. Place of Performance. In connection with Executive's
employment during the Term, Executive shall be based at the Company's offices in
or near Arlington, Virginia, except for necessary travel on the Company's
business. Executive may be reassigned to another location by mutual agreement.

                  5. Compensation and Related Matters.

                    (a) Annual Base Salary. During the Term, Executive shall
           receive a base salary at a rate not less than $350,000 per annum (the
           "Annual Base Salary"), less standard deductions, paid in accordance
           with the Company's general payroll practices for executives, but no
           less frequently than monthly. The Annual Base Salary shall compensate
           Executive for any official position or directorship that Executive is
           asked to hold in the Company or its affiliates as a part of
           Executive's employment responsibilities. No less frequently than
           annually during the Term, the Committee, on advice of the Company's
           Chief Executive Officer, shall review the rate of Annual Base Salary
           payable to Executive, and may, in its discretion, increase the rate
           of Annual Base Salary payable hereunder; provided, however, that any
           increased rate shall thereafter be the rate of "Annual Base Salary"
           hereunder.

                    (b) Bonus. Except as otherwise provided for herein, for each
           fiscal quarterly compensation period (or other period consistent with
           the Company's then-applicable normal employment practices) during
           which Executive is employed

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           hereunder on the last day, Executive shall be eligible to receive a
           Bonus in an amount up to one-quarter (or other pro-rata portion as
           appropriate) of 75% of Executive's Base Salary (the "Target Bonus")
           pursuant to, and as set forth in, the terms of the GTS Senior
           Executive Bonus Plan as such Plan may be amended from time to time,
           plus such other bonus payments, if any, as shall be determined by the
           Compensation Committee in its sole discretion

                    (c) Stock Options. The Company has previously granted to
           Executive options to purchase 817,500 shares of Company Stock and, in
           connection herewith, will grant to Executive options to purchase a
           further 300,000 shares of Common Stock (all of such options,
           collectively, the "Options") pursuant to the terms of a Stock Option
           Plan and an associated Stock Option Agreement.

                    (d) Restricted Shares. The Company has granted to Executive
           3,146 Restricted Shares and, in connection herewith, will grant to
           Executive 150,000 further Restricted Shares (collectively, the
           "Restricted Shares"), which shall be subject to restrictions on their
           sale as set forth in the Company Equity Compensation Plan and an
           associated Restricted Shares Grant Letter.

                    (e) Benefits. Executive shall be entitled to receive such
           benefits and to participate in such employee group benefit plans,
           including life, health and disability insurance policies, and other
           perquisites plans, including the Company's 1999 Senior Executive
           Perquisite Plan, as are generally provided by the Company to its
           senior executives of comparable level and responsibility in
           accordance with the plans, practices and programs of the Company,
           provided that such benefits shall at least include, during the Term,
           a one million dollar ($1,000,000) death benefit life insurance policy
           on Executive life.

                    (f) Expenses. The Company shall reimburse Executive for all
           reasonable and necessary expenses incurred by Executive in connection
           with the performance of Executive's duties as an employee of the
           Company including, but not limited to, the use of a mobile telephone,
           pager, computer and associated equipment in Executive's home, a
           laptop computer, and the payment of dues for Executive's Illinois and
           D.C. Bar memberships and for Executive's membership in the American
           and International Bar Associations. Such reimbursement is subject to
           the submission to the Company by Executive of appropriate
           documentation and/or vouchers in accordance with the customary
           procedures of the Company for expense reimbursement, as such
           procedures may be revised by the Company from time to time hereafter.

                    (g) Vacations. Executive shall be entitled to paid vacation
           in accordance with the Company's vacation policy as in effect from
           time to time provided that, in no event shall Executive be entitled
           to less than four (4) weeks vacation per calendar year. Executive
           shall also be entitled to paid holidays and personal days in
           accordance with the Company's practice with respect to same as in
           effect from time to time.

                  6. Termination.

                    (a) Executive's employment hereunder may be terminated by
           the Company, on the one hand, or Executive, on the other hand, as
           applicable, without any breach of this Agreement, under the following
           circumstances:

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                           (i) Death. Executive's employment hereunder shall
                  terminate upon Executive's death.

                           (ii) Disability. If Executive has incurred a
                  Disability, the Company may give Executive written notice of
                  its intention to terminate Executive's employment. In such
                  event, Executive's employment with the Company shall terminate
                  effective on the 14th day after receipt of such notice by
                  Executive, provided that within the 14 days after such
                  receipt, Executive shall not have returned to full-time
                  performance of Executive's duties.

                           (iii) Cause. The Company may terminate Executive's
                  employment hereunder for Cause.

                           (iv) Good Reason. Executive may terminate Executive's
                  employment for Good Reason.

                           (v) Without Cause. The Company may terminate
                  Executive's employment hereunder without Cause upon 90 days
                  written notice to the Executive. The Executive may resign and
                  such resignation shall be treated as "Termination without
                  Cause" hereunder at the earlier of:

                              a.    Upon 30 days' written notice to the Company,
                                    following the completion of the
                                    Restructuring Actions; or

                              b.    Upon 90 days' written notice delivered to
                                    the Company on or after October 1, 2001.

                           (vi) Resignation without Good Reason. Executive may
                  resign Executive's employment without Good Reason upon 90 days
                  written notice to the Company.

                    (b) Notice of Termination. Any termination of Executive's
           employment by the Company or by Executive under this Section 6 (other
           than termination pursuant to Paragraph 6(a)(i)) shall be communicated
           by a written notice (the "Notice of Termination") to the other party
           hereto indicating the specific termination provision in this
           Agreement relied upon, setting forth in reasonable detail any facts
           and circumstances claimed to provide a basis for termination of
           Executive's employment under the provision so indicated, and
           specifying a Date of Termination which, except in the case of
           termination for Cause or Disability, shall be at least ninety (90)
           days following the date of such notice (the "Notice Period");
           provided that the Company may pay to Executive all Salary, benefits
           and other rights due to Executive during such Notice Period instead
           of employing Executive during such Notice Period.

                    (c) Upon Executive's Termination of employment with the
           Company for whatever reason, he shall be deemed to have effectively
           resigned from all executive, director or other positions with the
           Company or its affiliates at the time of Termination, and shall
           return all property owned by the Company and in Executive's
           possession at that time.

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                  7. Severance Payments. Other than as set forth below, no
payments or benefits shall be due to Executive in connection with a termination
of this Agreement other than Salary and Benefits earned prior to the date of
termination.

                    (a) Termination without Cause or for Good Reason or at
           Death. If Executive's employment shall be terminated by the Company
           without Cause (pursuant to Section 6(a)(v)), or by the Executive for
           Good Reason (pursuant to Section 6(a)(iv)) or in the event of Death,
           and subject to the Company's receipt of a general release in its
           customary form, the Company shall

                           (i) pay to the Executive (A) all Annual Base Salary
                  due for the period prior to the Date of Termination and the
                  prorated portion of the unpaid Bonus to which Executive would
                  otherwise be entitled for the compensation period during which
                  the termination occurred,, plus (B) an amount equal to two (2)
                  times the sum of (i) the Executive's then-current rate of
                  Annual Base Salary and (ii) the Executive's Target Bonus for
                  the entire year in which the Date of Termination occurs, as
                  set forth in the GTS Senior Executive Bonus Plan, which sum
                  shall be payable in either a lump sum cash payment as soon as
                  practicable following the Date of Termination, or, in the
                  Company's sole discretion, in installments in accordance with
                  the Company's normal payroll practices, provided that, upon a
                  Change in Control during such 24-month period, the amounts
                  payable to Executive under this Section 7(a)(i), to the extent
                  not yet paid as of such Change in Control, shall be paid to
                  him in a single lump sum cash payment at the time of such
                  Change of Control;

                           (ii) accelerate to 100% the vesting of the Options
                  referred to in Paragraph 5(c) hereof;

                           (iii) accelerate to 100% the removal of restrictions
                  on the Restricted Shares referred to in Paragraph 5(d) hereof;

                           (iv) continue to provide Executive with all employee
                  benefits and perquisites (including the Executive Perquisite
                  Program, which program shall be paid to Executive in a lump
                  sum at its remaining cash value in the event of Change of
                  Control) which Executive was participating in or receiving at
                  the time of termination of employment until the earlier of two
                  years from the Date of Termination or Executive's receipt of
                  comparable benefits from a successor employer; and

                           (v) pay the cost to the earlier of 24 months or the
                  date Executive commences employment with another company
                  (other than self-employment) of executive-level outplacement
                  services (including the use of an office and secretarial
                  support in or near Executive's residence) to a maximum of
                  $25,000 per annum;

                           (vi) allow Executive to retain possession and use, of
                  all mobile phones, pagers and home computer equipment which
                  have been allocated to him during his employment.

                           (vii) should Executive have relocated to London, then
                  relocation of family and household goods to the U.S. shall be
                  provided consistent with Company practice and shall take place
                  within six months from Date of Termination.

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                    (b) Termination by Reason of Disability. If Executive's
           employment shall terminate by reason of Executive's Disability
           (pursuant to Section 6(a)(ii) and subject to the Company's receipt of
           a general release in its customary form, the Company shall pay to
           Executive, in a lump sum cash payment as soon as practicable
           following the Date of Termination, all unpaid Base Salary due for the
           period prior to Termination, plus the prorated portion of the unpaid
           Target Bonus to which Executive would otherwise be entitled for the
           compensation period of termination and, if there is a period of time
           during which Executive is not being paid Salary and not receiving
           long-term disability insurance payments, the Committee may, in its
           discretion, determine that the Company shall make interim payments to
           Executive until commencement of disability insurance payments.

                    (c) Survival. The expiration or termination of the Term
           shall not impair the rights or obligations of any party hereto which
           shall have accrued hereunder prior to such expiration.

                  8. Parachute Payments.

                    (a) If it is determined (as hereafter provided) that by
           reason of any payment or Option vesting occurring pursuant to the
           terms of this Agreement (or otherwise under any other agreement, plan
           or program) upon a Change in Control (collectively a "Payment") the
           Executive would be subject to the excise tax imposed by Code Section
           4999 or successor provision (the "Parachute Tax"), then the Executive
           shall be entitled to receive an additional payment or payments (a
           "Gross-Up Payment") in an amount such that, after payment by the
           Executive of all taxes (including any Parachute Tax) imposed upon the
           Gross-Up Payment, the Executive retains an amount of the Gross-Up
           Payment equal to the Parachute Tax imposed upon the Payment.

                    (b) Subject to the provisions of Section 8(a) hereof, all
           determinations required to be made under this Section 8, including
           whether a Parachute Tax is payable by the Executive and the amount of
           such Parachute Tax and whether a Gross-Up Payment is required and the
           amount of such Gross-Up Payment, shall be made by the nationally
           recognized firm of certified public accountants (the "Accounting
           Firm") used by the Company prior to the Change in Control (or, if
           such Accounting Firm declines to serve, the Accounting Firm shall be
           a nationally recognized firm of certified public accountants selected
           by the Executive). The Accounting Firm shall be directed by the
           Company or the Executive to submit its preliminary determination and
           detailed supporting calculations to both the Company and the
           Executive within 15 calendar days after the determination date, if
           applicable, and any other such time or times as may be requested by
           the Company or the Executive. If the Accounting Firm determines that
           any Parachute Tax is payable by the Executive, the Company shall pay
           the required Gross-Up Payment to, or for the benefit of, the
           Executive within five business days after receipt of such
           determination and calculations. If the Accounting Firm determines
           that no Parachute Tax is payable by the Executive, it shall, at the
           same time as it makes such determination, furnish the Executive with
           an opinion that he has substantial authority not to report any
           Parachute Tax on his federal tax return. Any good faith determination
           by the Accounting Firm as to the amount of the Gross-Up Payment shall
           be binding upon the Company and the Executive absent a contrary
           determination by the Internal Revenue Service or a court of competent
           jurisdiction; provided, however, that no such determination shall
           eliminate or reduce the Company's obligation to provide any Gross-Up
           Payments that shall be due as a result

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           of such contrary determination. As a result of the uncertainty in the
           application of Code Section 4999 at the time of any determination by
           the Accounting Firm hereunder, it is possible that Gross-Up Payments
           that will not have been made by the Company should have been made (an
           "Underpayment"), consistent with the calculations required to be made
           hereunder. In the event that the Company exhausts or fails to pursue
           its remedies pursuant to Section 8(f) hereof and the Executive
           thereafter is required to make a payment of any Parachute Tax, the
           Executive shall direct the Accounting Firm to determine the amount of
           the Underpayment that has occurred and to submit its determination
           and detailed supporting calculations to both the Company and the
           Executive as promptly as possible. Any such Underpayment shall be
           promptly paid by the Company to, or for the benefit of, the Executive
           within five business days after receipt of such determination and
           calculations.

                    (c) The Company and the Executive shall each provide the
           Accounting Firm access to and copies of any books, records and
           documents in the possession of the Company or the Executive, as the
           case may be, reasonably requested by the Accounting Firm, and
           otherwise cooperate with the Accounting Firm in connection with the
           preparation and issuance of the determination contemplated by Section
           8(b) hereof.

                    (d) The federal tax returns filed by the Executive (or any
           filing made by a consolidated tax group which includes the Company)
           shall be prepared and filed on a basis consistent with the
           determination of the Accounting Firm with respect to the Parachute
           Tax payable by the Executive. The Executive shall make proper payment
           of the amount of any Parachute Tax, and at the request of the
           Company, provide to the Company true and correct copies (with any
           amendments) of his federal income tax return as filed with the
           Internal Revenue Service, and such other documents reasonably
           requested by the Company, evidencing such payment. If prior to the
           filing of the Executive's federal income tax return, the Accounting
           Firm determines in good faith that the amount of the Gross-Up Payment
           should be reduced, the Executive shall within five business days pay
           to the Company the amount of such reduction.

                    (e) The fees and expenses of the Accounting Firm for its
           services in connection with the determinations and calculations
           contemplated by Sections 8(b) and (d) hereof shall be borne by the
           Company. If such fees and expenses are initially advanced by the
           Executive, the Company shall reimburse the Executive the full amount
           of such fees and expenses within five business days after receipt
           from the Executive of a statement therefor and reasonable evidence of
           his payment thereof.

                    (f) In the event that the Internal Revenue Service claims
           that any payment or benefit received under this Agreement constitutes
           an "excess parachute payment" within the meaning of Code Section
           280G(b)(1), or successor provision, the Executive shall notify the
           Company in writing of such claim. Such notification shall be given as
           soon as practicable but not later than 10 business days after the
           Executive is informed in writing of such claim and shall apprise the
           Company of the nature of such claim and the date on which such claim
           is requested to be paid. The Executive shall not pay such claim prior
           to the expiration of the 30 day period following the date on which
           the Executive gives such notice to the Company (or such shorter
           period ending on the date that any payment of taxes with respect to
           such claim is due). If the Company notifies the Executive in writing
           prior to the expiration of such period that it desires to contest
           such claim, the Executive shall (i) give the Company any information
           reasonably requested by the Company relating to such claim; (ii) take

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           such action in connection with contesting such claim as the Company
           shall reasonably request in writing from time to time, including
           without limitation, accepting legal representation with respect to
           such claim by an attorney reasonably selected by the Company and
           reasonably satisfactory to the Executive; (iii) cooperate with the
           Company in good faith in order to effectively contest such claim; and
           (iv) permit the Company to participate in any proceedings relating to
           such claim; provided, however, that the Company shall bear and pay
           directly all costs and expenses (including, but not limited to,
           additional interest and penalties and related legal, consulting or
           other similar fees) incurred in connection with such contest and
           shall indemnify and hold the Executive harmless, on an after-tax
           basis, for and against for any Parachute Tax or income tax or other
           tax (including interest and penalties with respect thereto) imposed
           as a result of such representation and payment of costs and expenses.

                    (g) The Company shall control all proceedings taken in
           connection with such contest and, at its sole option, may pursue or
           forgo any and all administrative appeals, proceedings, hearings and
           conferences with the taxing authority in respect of such claim and
           may, at its sole option, either direct the Executive to pay the tax
           claimed and sue for a refund or contest the claim in any permissible
           manner and the Executive agrees to prosecute such contest to a
           determination before any administrative tribunal, in a court of
           initial jurisdiction and in one or more appellate courts, as the
           Company shall determine; provided, however, that if the Company
           directs the Executive to pay such claim and sue for a refund, the
           Company shall advance the amount of such payment to the Executive on
           an interest-free basis, and shall indemnify and hold the Executive
           harmless, on an after tax basis, from any Parachute Tax (or other tax
           including interest and penalties with respect thereto) imposed with
           respect to such advance or with respect to any imputed income with
           respect to such advance; and provided, further, that if the Executive
           is required to extend the statue of limitations to enable the Company
           to contest such claim, the Executive may limit this extension solely
           to such contested amount. The Company's control of the contest shall
           be limited to issues with respect to which a corporate deduction
           would be disallowed pursuant to Code Section 280G or successor
           provision, and the Executive shall be entitled to settle or contest,
           as the case may be, any other issue raised by the Internal Revenue
           Service or any other taxing authority. In addition, no position may
           be taken nor any final resolution be agreed to by the Company without
           the Executive's consent if such position or resolution could
           reasonably be expected to adversely affect the Executive unrelated to
           matters covered hereto.

                    (h) If, after the receipt by Executive of an amount advanced
           by the Company in connection with the contest of the Parachute Tax
           claim, the Executive receives any refund with respect to such claim,
           the Executive shall promptly pay to the Company the amount of such
           refund (together with any interest paid or credited thereon after
           taxes applicable thereto); provided, however, if the amount of that
           refund exceeds the amount advanced by the Company the Executive may
           retain such excess. If, after the receipt by the Executive of an
           amount advanced by the Company in connection with a Parachute Tax
           claim, a determination is made that the Executive shall not be
           entitled to any refund with respect to such claim and the Company
           does not notify the Executive in writing of its intent to contest the
           denial of such refund prior to the expiration of 30 days after such
           determination such advance shall be deemed to be in consideration for
           services rendered after the Date of Termination.

<PAGE>   11

                  9. Competition.

                    (a) Executive shall not, at any time during the Term, or (i)
           for a period of twelve (12) months thereafter, without the prior
           written consent of the Board, directly or indirectly through any
           other person or entity:

                           (i) own, acquire in any manner any ownership interest
                  in (except as purely passive investments amounting to no more
                  than five percent of the voting equity), or serve as a
                  director, officer, employee, counsel or consultant of any
                  person, firm, partnership, corporation, consortia, association
                  or other entity that competes with the Company or any of its
                  affiliates or subsidiaries, in any European geographic market
                  in which the Company either (A) offers or provides broadband
                  telecommunications (which term hereafter shall be deemed to
                  include data or internet communications) services to
                  customers; (B) operates or manages a provider of
                  telecommunications services; (C) has material investments in a
                  provider of telecommunications services; or (D), to
                  Executive's knowledge, has plans to either operate a
                  telecommunications carrier, offer a telecommunications
                  service, or invest in a telecommunications carrier within the
                  next twelve months,

                           (ii) solicit, entice, persuade or induce any
                  individual who currently is, or at any time during the
                  preceding twelve months shall have been, an officer, director
                  or employee of the Company, or any of its affiliates, to
                  terminate or refrain from renewing or extending such person's
                  employment with the Company or such subsidiary or affiliate,
                  or to become employed by or enter into contractual relations
                  with or consultant for any other individual or entity, and
                  Executive shall not approach any such employee for any such
                  purpose or authorize or knowingly cooperate with the taking of
                  any such actions by any other individual or entity, or

                           (iii) except in accordance with Executive's duties on
                  behalf of the Company, solicit, entice, persuade, or induce
                  any individual or entity which currently is, or at any time
                  during the preceding twelve months shall have been, a
                  customer, consultant, vendor, supplier, lessor or lessee of
                  the Company, or any of its subsidiaries or affiliates, to
                  terminate or refrain from renewing or extending its
                  contractual or other relationship with the Company or such
                  subsidiary or affiliate, and Executive shall not approach any
                  such customer, vendor, supplier, consultant, lessor or lessee
                  for such purpose or authorize or knowingly cooperate with the
                  taking of any such actions by any other individual or entity.

                    (b) Executive shall not at any time:

                           (i) other than when required in the ordinary course
                  of business of the Company, disclose, directly or indirectly,
                  to any person, firm, corporation, partnership, association or
                  other entity, any trade secret, or confidential information
                  concerning the financial condition, suppliers, vendors,
                  customers, lessors, or lessees, sources or leads for, and
                  methods of obtaining, new business, or the methods generally
                  of doing and operating the respective businesses of the
                  Company or its affiliates and subsidiaries to the degree such
                  secret or information incorporates information that is
                  proprietary to, or was developed specifically by or for, the
                  Company, except such information that is a matter of public
                  knowledge, was provided to Executive (without breach of any
                  obligation of confidence owed to the Company) by a third party
                  which is not an affiliate of the Company, or is required to be
                  disclosed by law or judicial or administrative process, or

<PAGE>   12

                           (ii) make any oral or written statement about the
                  Company and/or its financial status, business, compliance with
                  laws, personnel, directors, officers, consultants, services,
                  business methods or otherwise, which is intended or reasonably
                  likely to disparage the Company or otherwise degrade its
                  reputation in the business or legal community in which it
                  operates or in the telecommunications industry;

                  provided that nothing in this Section 9(b) shall be construed
                  so as to prevent Executive from using, in connection with his
                  employment for himself or an employer other than the Company,
                  knowledge that was acquired by him during the course of his
                  employment with the Company and which is generally known to
                  persons of his experience in other companies in the same
                  industry;

                    (c) Executive hereby represents that (i) Executive is not
           restricted in any material way from performing Executive's duties
           hereunder as the result of any contract, agreement or law; and (ii)
           Executive's due performance of Executive's duties hereunder does not
           and will not violate the terms of any agreement to which Executive is
           bound.

                    (d) In the event any agreement in Section 9 hereof shall be
           determined by any court of competent jurisdiction to be unenforceable
           by reason of its extending for too great a period of time or over too
           great a geographical area or by reason of its being too extensive in
           any other respect, it will be interpreted to extend only over the
           maximum period of time for which it may be enforceable, and/or over
           the maximum geographical area as to which it may be enforceable
           and/or to the maximum extent in all other respects as to which it may
           be enforceable, all as determined by such court in such action.

                  10. Injunctive Relief. It is recognized and acknowledged by
Executive that a breach of the covenants contained in Section 9 hereof will
cause irreparable damage to the Company and its goodwill, the exact amount of
which will be difficult or impossible to ascertain, and that the remedies at law
for any such breach will be inadequate. Accordingly, Executive agrees that in
the event of a breach of any of the covenants contained in Section 9 hereof, in
addition to any other remedy which may be available at law or in equity, the
Company will be entitled to specific performance and injunctive relief.

                  11. Mutual Non-Disparagement. Neither the Company nor
Executive shall make any oral or written statement about the other party which
is intended or reasonably likely to disparage the other party, or otherwise
degrade the other party's reputation in the business or legal community or in
the telecommunications industry.

                  12. Foreign Corrupt Practices Act. Executive agrees to comply
in all material respects with the applicable provisions of the U.S. Foreign
Corrupt Practices Act of 1977 ("CPA"), as amended, which provides generally
that: under no circumstances will foreign officials, representatives, political
parties or holders of public offices be offered, promised or paid any money,
remuneration, things of value, or provided any other benefit, direct or
indirect, in connection with obtaining or maintaining contracts or orders
hereunder. When any representative, employee, agent, or other individual or
organization associated with Executive is required to perform any obligation
related to or in connection with this Agreement, the substance of this section
shall be imposed upon such person and included in any agreement between
Executive and any such person. Failure by Executive to comply with the
provisions of the CPA shall constitute a material breach of this Agreement and
shall entitle the Company to terminate Executive's employment for Cause.
Additionally,

<PAGE>   13

Executive hereby acknowledges that as a condition for the Company to continue
this Agreement, Executive has executed an acknowledgment that Executive has read
"An Explanation of the Foreign Corrupt Practices Act" and "Global TeleSystems
Group, Inc. Policy on Foreign Transactions," copies of which have been provided
to Executive. Executive also acknowledges that a condition precedent to the
effectiveness of this Agreement is the execution by Executive of the "Addendum
to the Global TeleSystems Group, Inc. Policy on Foreign Transaction," a copy of
which has been provided to Executive. Additionally, and as a condition for the
Company to continue this Agreement, Executive shall be required from time to
time at the request of the Company to execute a certificate of Executive's
compliance with the aforementioned laws and regulations.

                  13. Purchases and Sales of the Company's Securities. Executive
has read and agrees to comply in all respects with the Company's Policy
Regarding the Purchase and Sale of the Company's Securities by Employees, as
such Policy may be amended from time to time. Specifically, and without
limitation, Executive agrees that Executive shall not purchase or sell stock in
the Company at any time (a) that Executive possesses material non-public
information about the Company or any of its businesses; and (b) during any
"Trading Blackout Period" as may be determined by the Company as set forth in
the Policy from time to time.

                  14. Indemnification. Executive shall be entitled to
indemnification set forth in the Company's Certificate of Incorporation to the
maximum extent allowed under the laws of the Commonwealth of Virginia and the
State of Delaware Corporations Act, and Executive shall be entitled to all
protection of and coverage under any insurance policies the Company may elect to
maintain generally for the benefit of its directors and officers against all
costs, charges and expenses incurred or sustained by Executive in connection
with any action, suit or proceeding to which Executive may be made a party by
reason of Executive's being or having been a director, officer or employee of
the Company or any of its subsidiaries or Executive's serving or having served
any other enterprise as a director, officer or employee at the request of the
Company (other than any dispute, claim or controversy arising under or relating
to this Agreement).

                  15. Notices. Any written notice required by this Agreement
will be deemed provided and delivered to the intended recipient when (a)
delivered in person by hand; or (b) three days after being sent via U.S.
certified mail, return receipt requested; or (c) the day after being sent via by
overnight courier, in each case when such notice is properly addressed to the
following address and with all postage and similar fees having been paid in
advance:

         If to the Company:      Global TeleSystems, Inc.
                                 Attn.: Chief Executive Officer
                                 151 Shaftesbury Avenue
                                 London, England  WC2H 8AL

         If to Executive:        Grier C. Raclin

Either party may change the address to which notices, requests, demands and
other communications to such party shall be delivered personally or mailed by
giving written notice to the other party in the manner described above.

<PAGE>   14

                  16. Binding Effect. This Agreement shall be for the benefit of
and binding upon the parties hereto and their respective heirs, personal
representatives, legal representatives, successors and, where applicable,
assigns.

                  17. Entire Agreement. This Agreement constitutes the entire
agreement between the listed parties with respect to the subject matter
described in this Agreement and supersedes all prior agreements, understandings
and arrangements, both oral and written, between the parties with respect to
such subject matter including, but not limited to, the Prior Agreement. This
Agreement may not be modified, amended, altered or rescinded in any manner,
except by written instrument signed by both of the parties hereto; provided,
however, that the waiver by either party of a breach or compliance with any
provision of this Agreement shall not operate nor be construed as a waiver of
any subsequent breach or compliance.

                  18. Severability. In case any one or more of the provisions of
this Agreement shall be held by any court of competent jurisdiction or any
arbitrator selected in accordance with the terms hereof to be illegal, invalid
or unenforceable in any respect, such provision shall have no force and effect,
but such holding shall not affect the legality, validity or enforceability of
any other provision of this Agreement provided that the provisions held illegal,
invalid or unenforceable does not reflect or manifest a fundamental benefit
bargained for by a party hereto.

                  19. Dispute Resolution and Arbitration. In the event that any
dispute arises between the Company and Executive regarding or relating to this
Agreement and/or any aspect of Executive's employment relationship with the
Company, AND IN LIEU OF LITIGATION AND A TRIAL BY JURY, the parties consent to
resolve such dispute through mandatory arbitration under the Commercial Rules of
the American Arbitration Association ("AAA"), before a single arbitrator in
Arlington, Virginia. The parties hereby consent to the entry of judgment upon
award rendered by the arbitrator in any court of competent jurisdiction.
Notwithstanding the foregoing, however, should adequate grounds exist for
seeking immediate injunctive or immediate equitable relief, any party may seek
and obtain such relief; provided that, upon obtaining such relief, such
injunctive or equitable action shall be stayed pending the resolution of the
arbitration proceedings called for herein. The parties hereby consent to the
exclusive jurisdiction in the state and Federal courts of or in the Commonwealth
of Virginia for purposes of seeking such injunctive or equitable relief as set
forth above. Any and all out-of-pocket costs and expenses incurred by the
parties in connection with such arbitration (including attorneys' fees) shall be
allocated by the arbitrator in substantial conformance with his or her decision
on the merits of the arbitration; provided, however, that in no event shall
Executive be required to pay attorneys' fees in an amount that exceeds the
amount incurred by Executive for Executive's attorneys' fees.

                  20. Choice of Law. Executive and the Company intend and hereby
acknowledge that jurisdiction over disputes with regard to this Agreement, and
over all aspects of the relationship between the parties hereto, shall be
governed by the laws of the Commonwealth of Virginia without giving effect to
its rules governing conflicts of laws.

                  21. Section Headings. The section headings contained in this
Agreement are for reference purposes only and shall not affect in any manner the
meaning or interpretation of this Agreement.

                  22. Counterparts. This Agreement may be executed in any number
of counterparts, each of which shall be deemed an original, but all of which
taken together shall constitute one and the same instrument.

<PAGE>   15

         IN WITNESS WHEREOF, the parties have executed this Agreement on the
date and year first above written.

                                   GLOBAL TELESYSTEMS, INC.

                                   By:
                                      ------------------------------------------
                                   Name:   Robert J. Amman
                                   Title:  Chairman, CEO and President

                                   EXECUTIVE

                                   ---------------------------------------------
                                   Grier C. Raclin

                                   Agreed and Acknowledged:

                                   ---------------------------------------------
                                   Name:   Adam Solomon
                                   Title:  Chairman, Senior Executive
                                           Compensation Committee of Board<PAGE>   1
                                                                   EXHIBIT 10.44

                         RECEIVABLES FINANCING AGREEMENT
                           dated as of August 18, 2000
                                      among
                                  DRIVE BOS LP,
                                   as Borrower
                          DRIVE FINANCIAL SERVICES LP,
                          individually and as Servicer,
                           THE LENDERS PARTIES HERETO,
                                IFA INCORPORATED,
                         as Agent and Collateral Agent,
                                       and
                WELLS FARGO BANK MINNESOTA, NATIONAL ASSOCIATION
                                  as Custodian

                                      - 1 -

<PAGE>   2

                                Table of Contents
                                   (continued)

<TABLE>
<CAPTION>
                                                                                          Page
                                                                                          ----
<S>                                                                                       <C>
ARTICLE I.  DEFINITIONS......................................................................1
   SECTION 1.1.  Defined Terms...............................................................1
   SECTION 1.2.  Other Definitional Provisions..............................................20
ARTICLE II.  THE FACILITY, ADVANCE PROCEDURES AND NOTE......................................21
   SECTION 2.1.  Facility...................................................................21
   SECTION 2.2.  Advance Procedures.........................................................21
   SECTION 2.3.  Funding....................................................................21
   SECTION 2.4.  Representation and Warranty................................................22
   SECTION 2.5.  Voluntary Termination of Facility; Reduction of Facility Limit.............22
   SECTION 2.6.  Note.......................................................................22
ARTICLE III.  YIELD, FEES, ETC..............................................................22
   SECTION 3.1.  Interest...................................................................22
   SECTION 3.2.  Interest Payment Dates.....................................................22
   SECTION 3.3.  Selection of Interest Periods, etc.........................................23
   SECTION 3.4.  Fees.......................................................................23
   SECTION 3.5.  Computation of Interest and Fees...........................................23
ARTICLE IV.  REPAYMENTS AND PREPAYMENTS.....................................................23
   SECTION 4.1.  Repayments and Prepayments.................................................23
ARTICLE V.  PAYMENTS; TAXES.................................................................24
   SECTION 5.1.  Making of Payments; Taxes..................................................24
   SECTION 5.2.  Application of Certain Payments............................................25
   SECTION 5.3.  Due Date Extension.........................................................25
ARTICLE VI.  INCREASED COSTS, ETC...........................................................26
   SECTION 6.1.  Increased Costs............................................................26
   SECTION 6.2.  Additional Interest on Advances Bearing a Eurodollar Rate..................27
   SECTION 6.3.  Funding Losses.............................................................27
   SECTION 6.4.  Replacement of Affected Person.............................................27
ARTICLE VII.  EFFECTIVENESS; CONDITIONS TO ADVANCES.........................................28
   SECTION 7.1.  Effectiveness..............................................................28
   SECTION 7.2.  Initial Advance............................................................28
   SECTION 7.3.  All Advances...............................................................29
ARTICLE VIII.  ADMINISTRATION AND SERVICING OF RECEIVABLES..................................31
   SECTION 8.1.  Duties of the Servicer.....................................................31
   SECTION 8.2.  Collection of Receivable Payments; Modifications of Receivables; Lockbox...32
   SECTION 8.3.  Realization Upon Receivables...............................................33
   SECTION 8.4.  Insurance..................................................................34
   SECTION 8.5.  Maintenance of Security Interests in Vehicles..............................34
   SECTION 8.6.  Covenants, Representations and Warranties of Servicer......................35
   SECTION 8.7.  Purchase of Receivables Upon Breach of Covenant............................39
   SECTION 8.8.  Total Servicing Fee; Payment of Certain Expenses by Servicer...............39
   SECTION 8.9.  Servicer's Certificate.....................................................39
   SECTION 8.10. Annual Statement as to Compliance; Notice of Servicer Termination Event....40

</TABLE>

                                        i

<PAGE>   3

                                Table of Contents
                                   (continued)

<TABLE>
<CAPTION>
                                                                                        Page
                                                                                        ----
<S>                                                                                     <C>
   SECTION 8.11. Annual Independent Accountants' Report...................................40
   SECTION 8.12.  Access to Certain Documentation and Information Regarding Receivables...41
   SECTION 8.13.  Monthly Tape............................................................41
   SECTION 8.14.  Insurance...............................................................41
   SECTION 8.15.  Compliance with Laws....................................................41
   SECTION 8.16.  Collecting Lien Certificate.............................................42
   SECTION 8.17.  Purchase of All Receivables.............................................42
   SECTION 8.18.  Weekly Borrowing Base Confirmation......................................42
   SECTION 8.19.  Repurchase upon Breach..................................................42
ARTICLE IX.  ACCOUNTS; PAYMENTS...........................................................42
   SECTION 9.1.  Borrower Accounts........................................................42
   SECTION 9.2.  Servicer Reimbursements..................................................45
   SECTION 9.3.  Application of Collections...............................................45
   SECTION 9.4.  Additional Deposits......................................................45
ARTICLE X.  REPRESENTATIONS AND WARRANTIES OF THE BORROWER................................46
   SECTION 10.1.  Organization and Good Standing..........................................46
   SECTION 10.2.  Due Qualification.......................................................46
   SECTION 10.3.  Power and Authority.....................................................46
   SECTION 10.4.  Security Interest; Binding Obligations..................................46
   SECTION 10.5.  No Violation............................................................47
   SECTION 10.6.  No Proceedings..........................................................47
   SECTION 10.7.  No Consents.............................................................47
   SECTION 10.8.  Chief Executive Office..................................................47
   SECTION 10.9.  Solvency................................................................47
   SECTION 10.10.  Tax Treatment..........................................................47
   SECTION 10.11.  Compliance With Laws...................................................48
   SECTION 10.12.  Taxes..................................................................48
   SECTION 10.13.  Certificates...........................................................48
   SECTION 10.14.  No Liens, Etc..........................................................48
   SECTION 10.15.  Purchase and Sale......................................................48
   SECTION 10.16.  Securities Act of 1933; Investment Company Act of 1940.................49
   SECTION 10.17.  Information True and Correct...........................................49
   SECTION 10.18.  ERISA Compliance.......................................................49
   SECTION 10.19.  Financial or Other Condition...........................................49
   SECTION 10.20.  Investment Company Status..............................................49
   SECTION 10.21.  Eligible Receivables...................................................49
   SECTION 10.22.  Use of Proceeds........................................................49
   SECTION 10.23.  Separate Existence.....................................................49
   SECTION 10.24.  Investments............................................................50
   SECTION 10.25.  Representation and Warranties True and Correct.........................50
   SECTION 10.26.  Transaction Documents..................................................50
   SECTION 10.27.  Ownership of the Borrower..............................................50
</TABLE>

                                       ii
<PAGE>   4

                                Table of Contents
                                   (continued)

<TABLE>
<CAPTION>
                                                                                        Page
                                                                                        ----
<S>                                                                                     <C>
ARTICLE XI.  COVENANTS OF THE BORROWER....................................................50
   SECTION 11.1.  Protection of Security Interest of the Secured Parties..................50
   SECTION 11.2.  Other Liens or Interests................................................51
   SECTION 11.3.  Costs and Expenses......................................................51
   SECTION 11.4.  Reporting Requirements..................................................52
   SECTION 11.5.  Separate Existence......................................................52
   SECTION 11.7.  Tangible Net Worth......................................................53
   SECTION 11.8.  Take-Out Securitization.................................................53
   SECTION 11.9.  Stock, Merger, Consolidation, Etc.......................................54
   SECTION 11.10.  Change in Name.........................................................54
   SECTION 11.11.  Indebtedness; Guarantees...............................................54
   SECTION 11.12.  Limitation on Transactions with Affiliates.............................54
   SECTION 11.13.  Documents..............................................................54
   SECTION 11.14.  Preservation of Existence..............................................54
   SECTION 11.15.  Keeping of Records and Books of Account................................54
   SECTION 11.16.  Accounting Treatment...................................................55
   SECTION 11.17.  Limitation on Investments..............................................55
   SECTION 11.18.  Distributions..........................................................55
ARTICLE XII.  THE SERVICER................................................................55
   SECTION 12.1.  Liability of Servicer...................................................55
   SECTION 12.2.  Merger or Consolidation of, or Assumption of the Obligations of, the
   Servicer...............................................................................55
   SECTION 12.3.  Limitation on Liability of Servicer and Others..........................56
   SECTION 12.4.  Delegation of Duties....................................................56
   SECTION 12.5.  Servicer Not to Resign..................................................57
ARTICLE XIII.  SERVICER TERMINATION EVENTS................................................57
   SECTION 13.1.  Servicer Termination Event..............................................57
   SECTION 13.2.  Appointment of Successor Servicer.......................................59
   SECTION 13.3.  59
ARTICLE XIV.  FACILITY TERMINATION EVENTS; EVENTS.........................................60
   SECTION 14.1.  Facility Termination Events.............................................60
   SECTION 14.2.  Effect of Facility Termination Event....................................61
   SECTION 14.3.  Rights Upon Termination Event...........................................61
ARTICLE XV.  THE AGENT....................................................................61
   SECTION 15.1.  Appointment.............................................................61
   SECTION 15.2.  Delegation of Duties....................................................62
   SECTION 15.3.  Exculpatory Provisions..................................................62
   SECTION 15.4.  Reliance by Agent.......................................................62
   SECTION 15.5.  Action Upon Certain Events; Reports and Notices.........................62
   SECTION 15.6.  Non-Reliance on Agent...................................................63
   SECTION 15.7.  Indemnification.........................................................63
   SECTION 15.8.  Successor Agent.........................................................63
</TABLE>

                                       iii
<PAGE>   5

                                Table of Contents
                                   (continued)
<TABLE>
<CAPTION>
                                                                                        Page
                                                                                        ----
<S>                                                                                     <C>
   SECTION 15.9.  Liability of the Agent..................................................64
   SECTION 15.10.  Agent and Affiliates...................................................65
   SECTION 15.11.  Agent..................................................................65
ARTICLE XVI.  ASSIGNMENTS.................................................................65
   SECTION 16.1.  Restrictions on Assignments.............................................65
   SECTION 16.2.  Documentation...........................................................65
   SECTION 16.3.  Rights of Assignee......................................................65
   SECTION 16.4.  Notice of Assignment....................................................66
   SECTION 16.5.  Registration; Registration of Transfer and Exchange.....................66
   SECTION 16.6.  Mutilated, Destroyed, Lost and Stolen Notes.............................67
   SECTION 16.7.  Persons Deemed Owners...................................................67
   SECTION 16.8.  Cancellation............................................................67
   SECTION 16.9.  Participations; Pledge..................................................67
ARTICLE XVII.  INDEMNIFICATION............................................................68
   SECTION 17.1.  General Indemnity.......................................................68
   SECTION 17.2.  Contribution............................................................70
ARTICLE XVIII.  MISCELLANEOUS.............................................................70
   SECTION 18.1.  No Waiver; Remedies.....................................................70
   SECTION 18.2.  Amendments, Waivers.....................................................70
   SECTION 18.3.  Notices, Etc............................................................71
   SECTION 18.4.  Costs, Expenses and Taxes...............................................71
   SECTION 18.5.  Binding Effect; Survival................................................71
   SECTION 18.6.  Captions and Cross References...........................................72
   SECTION 18.7.  Severability............................................................72
   SECTION 18.8.  GOVERNING LAW...........................................................72
   SECTION 18.9.  Counterparts............................................................72
   SECTION 18.10.  Waiver of Jury Trial...................................................72
   SECTION 18.11.  No Proceedings.........................................................72
   SECTION 18.12.  Limited Recourse to the Lenders........................................73
   SECTION 18.13.  Collateral Agent.......................................................73
   SECTION 18.14.  Custodian..............................................................73
   SECTION 18.15.  Third Party Beneficiary................................................73
   SECTION 18.16.  Entire Agreement.......................................................74
   SECTION 18.17.  Confidentiality........................................................74
</TABLE>

                                       iv
<PAGE>   6

                         RECEIVABLES FINANCING AGREEMENT

        THIS RECEIVABLES FINANCING AGREEMENT is made and entered into as of
August 18, 2000, among DRIVE BOS LP, a Delaware limited partnership (the
"Borrower"), DRIVE FINANCIAL SERVICES LP, a Delaware limited partnership, in its
individual capacity ("Drive") and as Initial Servicer, each LENDER (as
hereinafter defined) FROM TIME TO TIME PARTY HERETO, IFA INCORPORATED ("IFA"),
as agent (in such capacity, the "Agent") for the Lenders (as hereinafter
defined) and as Collateral Agent (in such capacity, the "Collateral Agent"), and
WELLS FARGO BANK MINNESOTA, NATIONAL ASSOCIATION, a national banking
association, as Custodian.

                                   BACKGROUND

                1. The Borrower desires that the Lenders extend financing to the
     Borrower on the terms and conditions set forth herein.

                2. The Lenders are willing to provide such financing on the
     terms and conditions set forth in this Agreement.

        NOW, THEREFORE, in consideration of the premises and the mutual
agreements herein contained, the parties hereto agree as follows:

                                  ARTICLE III.
                                   DEFINITIONS

        SECTION 3.1. Defined Terms. As used in this Agreement, the following
terms have the following meanings:

        "Accountants' Report" has the meaning set forth in Section 8.11.

        "Accounting Date" means (a) the last day of a Collection Period and (b)
with respect to a Distribution Date or Determination Date, the last day of the
Collection Period preceding such Distribution Date or Determination Date (such
date being referred to as the "related Accounting Date" with respect to such
Distribution Date or Determination Date).

        "Advance" means any amount disbursed by any Lender to the Borrower under
this Agreement.

        "Advance Date" means the date any Advance is made under Section 2.3.

        "Advance Request" has the meaning set forth in Section 2.2.

        "Adverse Claim" means any claim of ownership or any lien, security
interest, title retention, trust or other charge or encumbrance, or other type
of preferential arrangement having the effect or purpose of creating a lien or
security interest, other than the security interest created under the Security
Agreement.

        "Affected Person" has the meaning set forth in Section 6.1(a).

        "Affiliate" of any Person means any other Person that directly or
indirectly controls, is controlled by or is under common control with such
Person (excluding any trustee under, or any committee with responsibility for
administering, any employee benefit plan). A Person shall be deemed to be
"controlled by" any other Person if such other Person possesses, directly or
indirectly, power

        (a) to vote 10% or more of the securities (on a fully diluted basis)
having ordinary voting power for the election of directors or managing partners;
or

        (b) to direct or cause the direction of the management and policies of
such Person whether by contract or otherwise.
The word "Affiliated" has a correlative meaning.

        "Agent" has the meaning set forth in the Preamble.

        "Agent's Account" has the meaning set forth in Section 5.1(a).

                                           - 1 -

<PAGE>   7
        "Aggregate Outstanding Principal Balance" means, with respect to any
group of Receivables as of any date, the sum of the outstanding Principal
Balances of all such Receivables as at 11:59 p.m. on the immediately preceding
day.

        "Agreement" shall mean this Receivables Financing Agreement, as it may
be amended, supplemented or otherwise modified from time to time.

        "Alternate Base Rate" means a fluctuating rate per annum as shall be in
effect from time to time, which rate shall be at all times equal to the higher
of:

        (d) 1.5% below the rate of interest announced publicly by Bank of
Scotland ("BOS") in New York, New York, from time to time as BOS's base, prime
or reference rate for U.S. domestic commercial loans in Dollars; and

            (e)1/2 of one percent above the Federal Funds Rate.

        "Amount Financed" means, with respect to a Receivable, the "amount
financed" within the meaning of the Federal Truth-in-Lending Act, which is the
aggregate amount of credit initially extended under such Receivable toward the
purchase price of the related Financed Vehicle and related costs, including
amounts of credit extended in respect of accessories, insurance premiums,
service and warranty policies or contracts and other items customarily financed
as part of motor vehicle retail installment contracts [excluding any amount
allocable to the premium of force-placed physical damage insurance covering the
Financed Vehicle.].

        "Annual Percentage Rate" or "APR" means, with respect to a Receivable,
the rate per annum of finance charges stated in such Receivable as the "annual
percentage rate" (within the meaning of the Federal Truth-in-Lending Act). If,
after the Purchase Date for such Receivable, the rate per annum with respect to
a Receivable as of the Purchase Date is reduced as a result of (i) an insolvency
proceeding involving the relevant Obligor or (ii) pursuant to the Soldiers' and
Sailors' Civil Relief Act of 1940, the "Annual Percentage Rate" or "APR" shall
refer to such reduced rate.

        "Article 8" means UCC, Revised Article 8, Investment Securities (with
conforming and miscellaneous amendments to Articles 1, 3, 4, 5, 9 and 10), 1994
Official Text, as adopted by the American Law Institute and the National
Conference of Commissioners on Uniform State Laws. Unless the context requires
otherwise, "Article 8" means such version in the form in which it is adopted in
the applicable jurisdiction.

        "Average Servicing Portfolio" means as of any date, the average of the
Servicing Portfolio for the three preceding Collection Periods.

        "Bank Rate" for any Advance means a rate per annum equal to 1% per annum
above the Eurodollar Rate for each Advance or portion thereof; provided,
however, that in the case of

                        (1)     any Interest Period on or after the first day of
                                which a Lender shall have notified the Agent
                                that the introduction of or any change in or in
                                the interpretation of any law or regulation
                                makes it unlawful, or any central bank or other
                                governmental authority asserts that it is
                                unlawful, for such Lender to fund such Advance
                                at the Bank Rate set forth above (and such
                                Lender shall not have subsequently

                                           - 2 -

<PAGE>   8
                                notified the Agent that such circumstances no
                                longer exist),

                        (2)     any Interest Period of one to (and including) 29
                                days, in the event the Eurodollar Rate is not
                                reasonably available to the Agent for such a
                                Interest Period, or

                        (3)     any Interest Period for an Advance the principal
                                amount of which is less than $1,000,000,

the "Bank Rate" shall be a rate per annum equal to the Alternate Base Rate from
time to time in effect during such Interest Period.

        "Bankruptcy Code" means the Bankruptcy Code, 11 U.S.C.ss. 101, et seq.,
as amended.

        "Basic Servicing Fee" means, with respect to any Distribution Date, the
fee payable to the Servicer for services rendered during the related Collection
Period, which shall be equal to one-twelfth of the Servicing Fee Rate multiplied
by the average Aggregate Outstanding Principal Balance of Transferred
Receivables for each day during the related Collection Period and, with respect
to any successor Servicer, the amounts specified in Section 13.3 to the extent
not paid by the original Servicer.

        "Borrower" has the meaning set forth in the Preamble.

        "Borrower Account Collateral" has the meaning set forth in Section 3(c)
of the Security Agreement.

        "Borrower Assigned Agreements" has the meaning set forth in Section 3(b)
of the Security Agreement.

        "Borrower Collateral" has the meaning set forth in Section 3 of the
Security Agreement.

        "Borrowing Base" means, on any day, the excess of (a) an amount equal to
(i) the Eligible Receivables Balance as of the last Weekly Pool Report Date or,
if such day is a Weekly Pool Report Date, as of such day, plus (ii) an amount
equal to the Aggregate Outstanding Principal Balance of all Eligible Receivables
purchased or originated by Drive and transferred to the Borrower since the
Business Day preceding the last Weekly Pool Report Date, plus (iii) the amount
on deposit in the Collection Account which represents principal collections on
Transferred Receivables as of the last Weekly Pool Report Date or, if such day
is a Weekly Pool Report Date, as of such day, plus (iv) the amount on deposit in
the Collateral Account on such day or, if such day is a Weekly Pool Report Date,
the Business Day preceding such day; over (b) the Required Holdback as of such
date; provided, however, that for the period from the Closing date until the
earlier of (x) the 30th day after the Closing Date and (y) the date the Borrower
first acquires a Receivable, the Borrowing Base shall be $5,000,000.

        "Borrowing Base Confirmation" has the meaning set forth in Section
7.3(g).

        "Borrowing Base Deficiency" has the meaning set forth in Section
14.1(e).

         "Business Day" shall mean any day on which (a) commercial banks in New
York City are not authorized or required to be closed, and (b) in the case of a
Business Day which relates to a Eurodollar Advance, dealings are carried on in
the London interbank Eurodollar market.

                                           - 3 -

<PAGE>   9
        "Certificated Security" has the meaning set forth in Section 8-102(a)(4)
of Article 8.

        "Closing Date" means the Effective Date.

        "Collateral Account" means the account designated as the Collateral
Account in, and which is established and maintained pursuant to, Section 9.1(a).

        "Collateral Agent" means IFA Incorporated solely in its capacity as
Collateral Agent, together with its permitted successors and assigns in such
capacity.

        "Collateral Receipt" means a Custodian's Acknowledgment in the form of
Exhibit 2 to the Custodian Agreement.

        "Collection Account" means the account designated as the Collection
Account in, and which is established and maintained pursuant to, Section 9.1(a).

        "Collection Period" means any calendar month and, with respect to a
Determination Date or a Distribution Date, the calendar month preceding the
month in which such Determination Date or Distribution Date occurs (such
calendar month being referred to as the "related" Collection Period with respect
to such Determination Date or Distribution Date) or, in the case of the initial
Distribution Date and Determination Date, the period commencing at the opening
of business on the Closing Date and ending at the end of the calendar month in
which the Closing Date occurs. Any amount stated "as of the close of business of
the last day of a Collection Period" shall give effect to the following
calculations as determined as of the end of the day on such last day: (i) all
applications of collections on the Transferred Receivables and Purchase Amounts,
and (ii) all distributions.

        "Collection Records" means all manually prepared or computer generated
records relating to collection efforts or payment histories with respect to the
Transferred Receivables.

        "Commitment" means, for any Lender, the maximum amount of such Lender's
commitment to fund Advances hereunder, as set forth on the signature pages
hereto or in the assignment documentation by which such Lender became a party to
this Agreement or assumed the Commitment (or a portion thereof) of another
Lender, as such amount may be adjusted from time to time pursuant to Section 2.5
or pursuant to assignment documentation executed by such Lender and its assignee
and delivered pursuant to Section 16.2 of this Agreement.

        "Commitment Percentage" means, for a Lender, such Lender's Commitment as
a percentage of the aggregate Commitments of all Lenders.

        "Commitment Termination Date" means August 17, 2001, as such date may be
extended from time to time as mutually agreed in writing between the Borrower,
the Servicer, the Agent and the Lenders.

        "Computer Tape" means the computer tape or diskette generated on behalf
of the Borrower which provides information relating to the Transferred
Receivables and which was used by the Borrower and Drive in selecting the
Transferred Receivables conveyed to the Borrower under the Receivables Purchase
Agreement.

                                           - 4 -

<PAGE>   10
        "Contingent Liability" means any agreement, undertaking or arrangement
by which any Person guarantees, endorses or otherwise becomes or is contingently
liable upon (by direct or indirect agreement, contingent or otherwise, to
provide funds for payment, to supply funds to, or otherwise to invest in, a
debtor, or otherwise to assure a creditor against loss) the indebtedness,
obligation or any other liability of any other Person (other than by
endorsements of instruments in the course of collection), or guarantees the
payment of dividends or other distributions upon the shares of any other Person.
The amount of any Person's obligation under any Contingent Liability shall
(subject to any limitation set forth therein) be deemed to be the outstanding
principal amount (or maximum outstanding principal amount, if larger) of the
debt, obligation or other liability guaranteed thereby.

        "Control": with respect to any Federal Book Entry Security, the
Collateral Agent shall have obtained control if:

                (i) the Collateral Agent is a participant in the book entry
        system maintained by the Federal Reserve Bank that is acting as fiscal
        agent for the issuer of such Federal Book Entry Security, and such
        Federal Reserve Bank has indicated by book entry that such Federal Book
        Entry Security has been credited to the Collateral Agent's securities
        account in such book entry system; or

                (ii) (a) the Collateral Agent (1) is registered on the records
        of a Securities Intermediary as the person having a Securities
        Entitlement in respect of such Federal Book Entry Security against such
        Securities Intermediary; or (2) has obtained the agreement, in writing,
        of the Securities Intermediary for such Securities Entitlement that such
        Securities Intermediary will comply with Entitlement Orders of the
        Collateral Agent without further consent of any other Person; and (b)
        the Securities Intermediary is a participant in the book entry system
        maintained by the Federal Reserve Bank that is acting as fiscal agent
        for the issuer of such Federal Book Entry Security; and (c) such
        Federal Reserve Bank has indicated by book entry that such Federal Book
        Entry Security has been credited to the Securities Intermediary's
        securities account in such book entry system.

        "Cram Down Loss" means, with respect to a Receivable, if a court of
appropriate jurisdiction in an insolvency proceeding shall have issued an order
reducing the amount owed on such Receivable or otherwise modifying or
restructuring the Scheduled Payments to be made on such Receivable, an amount
equal to the excess of the principal balance of such Receivable immediately
prior to such order, minus the principal balance of such Receivable as so
reduced. A "Cram Down Loss" shall be deemed to have occurred on the date of
issuance of such order.

        "Custodian" means Wells Fargo Bank Minnesota, National Association
solely in its capacity as Custodian, together with its permitted successors and
assigns in such capacity.

        "Custodian Agreement" means the Custodian Agreement dated as of August
18, 2000 among the Custodian, the Collateral Agent, the Borrower and Drive,
individually and as Servicer, including all permitted amendments, modifications
and supplements thereto.

        "Custodian Fee Letter" means (a) that certain schedule of fees of Wells
Fargo Bank Minnesota, National Association acknowledged by Drive and the
Borrower, and consented to by the Agent, as the same may be amended,
supplemented or otherwise modified by the parties thereto with the consent of
the Agent and (b) any letter agreement(s) or schedule of fees entered

                                           - 5 -

<PAGE>   11

into by Drive and the Borrower, with the consent of the Agent, with a substitute
Custodian in replacement of the schedule of fees referred to in clause (a) above
relating to fees payable to such substitute Custodian.

        "Cut-Off Date" means, with respect to a Receivable, the Initial Cut-Off
Date or the Subsequent Cut-Off Date applicable to such Receivable.

        "Dealer" means a seller of new or used automobiles, light trucks or
sport utility vehicles that originated one or more of the Receivables and sold
the respective Receivable, directly or indirectly, to Drive under a Dealer
Agreement or Dealer Assignment.

        "Dealer Agreement" means an agreement by and among Drive and a Dealer
relating to the sale of retail installment contracts to Drive and all documents
and instruments relating thereto.

        "Dealer Assignment" means, with respect to a Receivable, the assignment
executed by a Dealer conveying such Receivable to Drive.

        "Default Rate" means a rate per annum equal to the Alternate Base Rate
(but not less than the Interest (if any) in effect for the related monetary
obligation), plus a margin of 4%.

        "Defaulted Receivable" means a Receivable with respect to which (i) 50%
or more of a Scheduled Payment is more than 60 days past due or (ii) the related
Financed Vehicle has been repossessed and the mandatory redemption period with
respect thereto has expired.

        "Delinquent Receivable" means a Receivable with respect to which 50% or
more of a Scheduled Payment is more than 30 days past due and excluding
Defaulted Receivables.

        "Delivery": when used with respect to Borrower Account Collateral,
"Delivery" means:

                (i) with respect to Physical Property, transfer thereof to the
        Collateral Agent or its nominee or custodian by physical delivery to the
        Collateral Agent or its nominee or custodian endorsed to, or registered
        in the name of, the Collateral Agent or its nominee or custodian or
        endorsed in blank;

                (ii) with respect to a Certificated Security, transfer of such
        Certificated Security to the Collateral Agent or its nominee or
        custodian by physical delivery to the Collateral Agent or its nominee or
        custodian, endorsed to, or registered in the name of, the Collateral
        Agent or its nominee or custodian or endorsed in blank; or

                (iii) with respect to any such Borrower Account Collateral that
        constitutes an Uncertificated Security (including any investments in
        money market mutual funds, but excluding any Federal Book Entry
        Security), (A) registration of the Collateral Agent as the registered
        owner by the issuer, or (B) satisfaction of the requirements for
        obtaining "control" pursuant to Section 8-106(c)(2) of Article 8.

        "Determination Date" means, with respect to a Collection Period, the
12th day of the succeeding calendar month, or if such 12th day is not a Business
Day, the next preceding Business Day.

        "Distribution Date" means the 15th day of each calendar month, or if
such 15th day is not a Business Day, the next succeeding Business Day,
commencing September 15, 2000.

                                           - 6 -

<PAGE>   12
        "Dollar(s)" and the sign "$" mean lawful money of the United States of
America.

        "Drive" has the meaning set forth in the Preamble.

        "Effective Date" has the meaning set forth in Section 7.1.

        "Electronic Ledger" means the electronic master record of the retail
installment contracts of the Servicer.

        "Eligible Account" means (i) a segregated trust account or (ii) a
segregated direct deposit account, in each case, maintained with a depository
institution or trust company organized under the laws of the United States of
America, or any of the States thereof, or the District of Columbia, having a
certificate of deposit, short term deposit or commercial paper rating of at
least A1 by Standard & Poor's and P1 by Moody's. In either case, such depository
institution or trust company shall have been approved by the Agent, acting in
its discretion, by written notice to the Servicer. IFA Incorporated and BOS are
each deemed to be an acceptable institution to the Agent.

        "Eligible Assignee" has the meaning set forth in Section 16.1.

        "Eligible Receivable" means a Receivable as to which the representations
and warranties set forth on Exhibit C are true and correct. For purposes of this
definition and the calculation of the Borrowing Base, the eligibility of
Receivables will be determined from time to time, such that a Receivable that
was an Eligible Receivable at one time but that subsequently fails to meet all
applicable eligibility requirements will no longer be an Eligible Receivable
(unless and until it again meets all applicable eligibility requirements).

        "Eligible Receivables Balance" means, as of any date, the Aggregate
Outstanding Principal Balance of all Transferred Receivables which are Eligible
Receivables on such day of determination.

        "Eligible Servicer" means Drive or another Person which at the time of
its appointment as Servicer (i) is servicing a portfolio of motor vehicle retail
installment contracts and/or motor vehicle installment loans, (ii) is legally
qualified and has the capacity to service the Transferred Receivables, (iii) has
demonstrated the ability to service a portfolio of motor vehicle retail
installment contracts and/or motor vehicle installment loans similar to the
Transferred Receivables with reasonable skill and care, (iv) is qualified and
entitled to use, pursuant to a license or other written agreement, and agrees to
maintain the confidentiality of, the software which the Servicer uses in
connection with performing its duties and responsibilities under this Agreement
or otherwise has available software which is adequate to perform its duties and
responsibilities under this Agreement, and (v) has been approved by the Required
Lenders.

        "Entitlement Order" has the meaning set forth in Section 8-102(a)(8) of
Article 8.

        "ERISA" means the U.S. Employee Retirement Income Security Act of 1974,
as amended from time to time.

        "Eurocurrency Liabilities" has the meaning assigned to that term in
Regulation D of the Board of Governors of the Federal Reserve System, as in
effect from time to time.

        "Eurodollar Advance" means any Advance (or portion thereof) that bears
Interest at the Eurodollar Rate.

                                           - 7 -

<PAGE>   13
        "Eurodollar Rate" means, for any Interest Period, [a rate per annum
equal to the rate for deposits in Dollars for a term equal to such Interest
Period (commencing on the first day of such Interest Period) which appears on
Telerate Page 3750 as of 11:00 A.M. (London time) on the second Business Day
prior to the commencement of such Interest Period. If such rate does not appear
on Telerate Page 3750, a rate per annum at which deposits in Dollars are offered
by the principal office of BOS in London, England to prime banks in the London
interbank market at 11:00 A.M. (London time) two Business Days before the first
day of such Interest Period in an amount substantially equal to the principal
amount of the Advance associated with such Interest Period on such first day and
for a period equal to such Interest Period.]

        "Eurodollar Rate Reserve Percentage" of any Lender for any Interest
Period in respect of which Interest is computed by reference to the Eurodollar
Rate means the reserve percentage applicable two Business Days before the first
day of such Interest Period under regulations issued from time to time by the
Board of Governors of the Federal Reserve System (or any successor) (or if more
than one such percentage shall be applicable, the daily average of such
percentages for those days in such Interest Period during which any such
percentage shall be so applicable) for determining the maximum reserve
requirement (including, without limitation, any emergency, supplemental or other
marginal reserve requirement) for such Lender with respect to liabilities or
assets consisting of or including Eurocurrency Liabilities (or with respect to
any other category of liabilities that includes deposits by reference to which
the yield rate on Eurocurrency Liabilities is determined) having a term equal to
such Interest Period.

        "Executive Officer" means, with respect to any corporation, the
President, Chief Financial Officer or any Vice President.

        "Facility" has the meaning set forth in Section 2.1.

        "Facility Limit" means, on any day, the lesser of (x) $100,000,000 and
(y) the Total Commitment in effect on such day, as such amount may be reduced
pursuant to Section 2.5. References to the unused portion of the Facility Limit
shall mean, at any time, the Facility Limit, as then increased or reduced
pursuant to Section 2.5, minus the sum of the then outstanding principal amount
of Advances under this Agreement.

        "Facility Termination Date" means the earliest to occur of (i) the date
of any termination of the Facility, in whole, by the Borrower pursuant to
Section 2.5, (ii) the effective date on which the Facility is terminated
pursuant to Section 14.2, and (iii) the Commitment Termination Date.

        "Facility Termination Event" means any of the events described in
Section 14.1.

        "Federal Book Entry Security" means an obligation (i) issued by the U.S.
Treasury, the Federal Home Loan Mortgage Corporation or the Federal National
Mortgage Association, or any other direct obligation of, or obligation fully
guaranteed as to timely payment or principal and interest by, the United States
of America, that is a book-entry security held through the Federal Reserve
System pursuant to Federal book entry regulations, and (ii) the perfection of a
security interest in which is governed pursuant to federal regulations by
Article 8.

        "Federal Funds Rate" means, for any period, a fluctuating rate per annum
equal for each day during such period to the weighted average of the rates on
overnight federal funds transactions with members of the Federal Reserve System
arranged by federal funds brokers, as published for such day (or, if such day is
not a Business Day, for the next preceding Business

                                           - 8 -

<PAGE>   14

Day) by the Federal Reserve Bank of New York, or, if such rate is not so
published for any day which is a Business Day, the average of the quotations for
such day on such transactions received by the Agent from three federal funds
brokers of recognized standing selected by it.

        "Final Scheduled Payment Date" means the Distribution Date occurring in
the 72nd month following the Facility Termination Date.

        "Financed Vehicle" means any new or used automobile, light duty truck,
van, minivan or sport utility vehicle, together with all accessories, additions
and parts constituting a part thereof and all accessions thereto securing, or
purporting to secure, an Obligor's indebtedness under a Receivable.

        "Financial Asset" has the meaning set forth in Section 8-102(a)(9) of
Article 8.

        "GAAP" means generally accepted accounting principles in the United
States, which are applicable to the circumstances as of any date of
determination.

        "IFA" has the meaning set forth in the Preamble.

        "Indebtedness" of any Person means, without duplication:

                (a) all obligations of such Person for borrowed money and all
        obligations of such Person evidenced by bonds, debentures, notes or
        other similar instruments;

                (b) all obligations, contingent or otherwise, relative to the
        face amount of all letters of credit, whether or not drawn, and banker's
        acceptances issued for the account of such Person;

                (c) all obligations of such Person as lessee under leases that
        have been or should be, in accordance with GAAP, recorded as capitalized
        lease liabilities;

                (d) all other items that, in accordance with GAAP, would be
        included as liabilities on the liability side of the balance sheet of
        such Person as of the date at which Indebtedness is to be determined;

                (e) whether or not so included as liabilities in accordance with
        GAAP, all obligations of such Person to pay the deferred purchase price
        of property or services, and indebtedness (excluding prepaid interest
        thereon) secured by a lien on property owned or being purchased by such
        Person (including indebtedness arising under conditional sales or other
        title retention agreements), whether or not such indebtedness shall have
        been assumed by such Person or is limited in recourse; and

                (f) all Contingent Liabilities of such Person in respect of any
        of the foregoing.

        "Indemnified Amounts" has the meaning set forth in Section 17.1.

        "Indemnified Party" has the meaning set forth in Section 17.1.

        "Independent Accountants" has the meaning set forth in Section 8.11.

        "Initial Advance Date" means the date the first Advance is made
hereunder.

        "Initial Cutoff Date" means the close of business on any day at least
one Business Day but not more than thirty days before the Initial Advance Date.

        "Initial Receivables" means the Receivables listed on the Schedule of
Receivables on the Initial Advance Date.
                                           - 9 -

<PAGE>   15

        "Insolvency Event" means, with respect to any Person, (a) the entry of a
decree or order for relief by a court having jurisdiction in the premises in
respect of such Person or any substantial part of its property in an involuntary
case under any applicable federal or state bankruptcy, insolvency or other
similar law now or hereafter in effect, or appointing a receiver, liquidator,
assignee, custodian, trustee, sequestrator or similar official for such Person
or for any substantial part of its property, or ordering the winding-up or
liquidation of such Person's affairs, or 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 (b) the commencement by such
Person of a voluntary case under any applicable federal or state bankruptcy,
insolvency or other similar law now or hereafter in effect, or the consent by
such Person to the entry of an order for relief in an involuntary case under any
such law, or the consent by such Person to the appointment of or taking
possession by a receiver, liquidator, assignee, custodian, trustee, sequestrator
or similar official for such Person or for any substantial part of its property,
or the making by such Person of any general assignment for the benefit of
creditors, or the failure by such Person generally to pay its debts as such
debts become due, or the taking of action by such Person in furtherance of any
of the foregoing.

        "Instruments" has the meaning set forth in Section 9-105(l)(i) of
Article 8.

        "Insurance Policy" means, with respect to a Receivable, any insurance
policy benefiting the holder of the Receivable and providing loss or physical
damage, credit life, accident and health, theft, mechanical breakdown or similar
coverage with respect to the Financed Vehicle or the related Obligor.

        "Intercreditor Agreement" means the Intercreditor and Master Collection
Account Agreement by and among the Lockbox Processor, Wells Fargo Bank
Minnesota, National Association, as Master Collection Account Agent, the
Servicer, the Collateral Agent, Bank of America, N.A., Chase Bank of Texas, and
certain other parties, as the same may from time to time amended, supplemented,
restated, replaced or otherwise modified.

        "Interest Period" means with respect to any Advance (or portion
thereof):

                (a) the period commencing on the date of the initial funding of
        such Advance (or such portion) and one, two, three or six months
        thereafter as the Borrower shall select in accordance with Section
        3.3(b), after consultation with the Agent; and

                (b) thereafter, each period commencing on the last day of the
        immediately preceding Interest Period for such Advance (or such portion)
        and ending one, two, three or six months thereafter as the Borrower
        shall then select in accordance with Section 3.3(b), after consultation
        with the Agent;

provided, however, that:

                     (i) the Borrower must deliver written notice to the Agent
              not later than 12:00 noon (New York City time) on the second
              Business Day preceding the first day of such Interest Period;

                     (ii) any such Interest Period that would otherwise end on a
              day that is not a Business Day shall be extended to the next
              succeeding Business Day (unless the succeeding Business Day is in
              a different calendar month, in which case such Interest Period
              shall instead be shortened to the next preceding Business Day);
              and

                                           - 10 -

<PAGE>   16

                       (iii) if any Interest Period for any Advance that
               commences before the Facility Termination Date would otherwise
               end on a date occurring after the Facility Termination Date, such
               Interest Period shall end on the Facility Termination Date and
               the duration of each such Interest Period that commences on or
               after the Facility Termination Date, if any, shall be of such
               duration as shall be selected by the Agent.

        "Investment Property" has the meaning set forth in Section 9-115(1)(f)
of Article 8.

        "Investor" means (i) all Lenders, (ii) all other owners by assignment or
participation of an Advance and, to the extent of the undivided interests so
purchased, all Participants (in accordance with Section 16.9), and (iii) the
Agent and any subsequent holder of any Note (in accordance with Section 16.5).

        "Lender" means each financial institution party hereto, and any assignee
of such Lender pursuant to Article XVI to the extent such assignee has assumed a
portion of the Commitment of such Lender.

        "Lien" means any security interest, lien, charge, pledge, preference,
equity or encumbrance of any kind, including tax liens, mechanics' liens and any
liens that attach by operation of law.

        "Lien Certificate" means, with respect to a Financed Vehicle, an
original certificate of title, certificate of lien or other notification issued
by the Registrar of Titles of the applicable state to a secured party which
indicates that the lien of the secured party on the Financed Vehicle is recorded
on the original certificate of title. In any jurisdiction in which the original
certificate of title is required to be given to the Obligor, the term "Lien
Certificate" shall mean only a certificate or notification issued to a secured
party.

        "Liquidated Receivable" means, with respect to any Collection Period, a
Receivable as to which the earliest of any of the following events has occurred
(i) the related Financed Vehicle has been repossessed and sold by the Servicer,
(ii) at least 50% of any Scheduled Payment has become 121 or more days
delinquent, or (iii) the Servicer has determined in good faith that all amounts
it expects to recover with respect thereto have been received. Any Receivable
that becomes a Purchased Receivable on or before the related Determination Date
shall not be a Liquidated Receivable.

        "Liquidation Proceeds" means, with respect to a Liquidated Receivable,
all amounts realized with respect to such net of (i) reasonable expenses of the
Servicer incurred in connection with the collection of such Receivable and the
repossession and disposition of the related Financed Vehicle and (ii) amounts
that are required to be refunded to the Obligor on such Receivable; provided,
however, that the Liquidation Proceeds with respect to any Receivable shall in
no event be less than zero.

        "Lockbox Processor" means Regulus West LLC or any other lockbox
processor named by the Servicer and acceptable to the Agent.

        "Master Collection Account" has the meaning given such term in Section
8.2(d).

        "Monthly Records" means all records and data maintained by the Servicer
with respect to the Transferred Receivables and the Obligors, including the
following with respect to each

                                           - 11 -

<PAGE>   17

Transferred Receivable: the account number; the originating Dealer; Obligor
name; Obligor address; Obligor home phone number; Obligor business phone number
(if any); original Amount Financed or Principal Balance; original total of
payments; original term; Annual Percentage Rate; current Principal Balance;
current remaining term; contract origination date; first payment date; final
scheduled payment date; next payment due date; collateral description; days
currently delinquent; new/used classification; amount of Scheduled Payment; and
past due late charges, if any.

        "Moody's" means Moody's Investors Service, Inc., or any successor
thereto.

        "Note" means a promissory grid note, in the form of Exhibit B.

        "Note Register" has the meaning set forth in Section 16.5(a).

        "Note Registrar" has the meaning set forth in Section 16.5(a).

        "Obligations" means all obligations (monetary or otherwise) of the
Borrower to the Investors, the Collateral Agent, the Custodian, the Agent or any
other Affected Person arising under or in connection with this Agreement, any
Note and each other Transaction Document.

        "Obligor" means a Person obligated to make payments with respect to a
Transferred Receivable.

        "Officer's Certificate" means a certificate signed by an Executive
Officer.

        "Official Body" means any government or political subdivision or any
agency, authority, regulatory body, bureau, central bank, commission, department
or instrumentality of any such government or political subdivision, or any
court, tribunal, grand jury or arbitrator, in each case whether foreign or
domestic.

        "Opinion of Counsel" means a written opinion of independent counsel
reasonably acceptable in form and substance and from counsel acceptable to the
Agent and, if such opinion or a copy thereof is required to be delivered to the
Collateral Agent, reasonably acceptable (as to form and substance) to the
Collateral Agent.

        "Parent Guarantee" means the Guarantee dated as of the date hereof made
by Drive in favor of the Agent, including all amendments, modifications and
supplements thereto.

        "Parent Pledge Agreement" means the Pledge Agreement dated as of the
date hereof made by Drive in favor of the Agent, including all amendments,
modifications and supplements thereto.

        "Parent Security Agreement" means the Security Agreement dated as of the
date hereof made by Drive in favor of the Agent, including all amendments,
modifications and supplements thereto.

        "Participant" has the meaning set forth in Section 16.9.

        "Permitted Investment" means, at any time:

                (a) direct interest-bearing obligations of, and interest-bearing
        obligations guaranteed as to timely payment of principal and interest
        by, the United States or any

                                     - 12 -
<PAGE>   18

        agency or instrumentality of the United States, the obligations of which
        are backed by the full faith and credit of the United States;

                (b) demand or time deposits in, certificates of deposit of,
        demand notes of, or bankers' acceptances issued by any depository
        institution or trust company organized under the laws of the United
        States or any State thereof (including any federal or state branch or
        agency of a foreign depository institution or trust company) and subject
        to supervision and examination by federal and/or state banking
        authorities (including, if applicable, the Collateral Agent, the Agent
        or any agent thereof acting in its commercial capacity); provided that
        the short-term unsecured debt obligations of such depository institution
        or trust company at the time of such investment, or contractual
        commitment providing for such investment, are rated at least "A-1" by
        Standard & Poor's and "P-1" by Moody's;

                (c) repurchase obligations pursuant to a written agreement (i)
        with respect to any obligation described in clause (a) above, where the
        Collateral Agent has taken actual or constructive delivery of such
        obligation in accordance with Article IX of this Agreement, and (ii)
        entered into with (x) BOS or IFA or (y) the corporate trust department
        of a depository institution or trust company organized under the laws of
        the United States or any State thereof, the deposits of which are
        insured by the Federal Deposit Insurance Corporation and the short-term
        unsecured debt obligations of which are rated at least "A-1" by Standard
        & Poor's and "P-1" by Moody's (including, if applicable, the Collateral
        Agent, the Agent or any agent thereof acting in its commercial
        capacity);

                (d) securities bearing interest or sold at a discount issued by
        any corporation incorporated under the laws of the United States or any
        State whose long-term unsecured debt obligations are assigned one of the
        two highest long-term ratings by each Rating Agency at the time of such
        investment or contractual commitment providing for such investment;
        provided, however, that securities issued by any particular corporation
        will not be Permitted Investments to the extent that an investment
        therein will cause the then outstanding principal amount of securities
        issued by such corporation and held in the Collection Account and the
        Collateral Account to exceed 10% of the value of Permitted Investments
        held in such accounts (with Permitted Investments held in such accounts
        valued at par);

                (e) commercial paper that (i) is payable in United States
        dollars and (ii) is rated at least "A-1" by Standard & Poor's and "P-1"
        by Moody's;

                (f) units of money market funds rated in the highest credit
        rating category by each Rating Agency; or

                (g) any other demand or time deposit, obligation, security or
        investment (including, without limitation, a hedging arrangement) as may
        be acceptable to the Agent and the Agent, as evidenced by a writing to
        that effect.

Permitted Investments may be purchased by or through the Collateral Agent or any
of its Affiliates. All Permitted Investments shall be held in the name of the
Collateral Agent. No Permitted Investment shall have a "r" highlighter affixed
to its Standard & Poor's rating.

        "Permitted Lien" means (i) the Lien in favor of the Collateral Agent for
the benefit of the Secured Parties and (ii) the restrictions on transferability
imposed by the Transaction Documents.

                                     - 13 -
<PAGE>   19

        "Person" means an individual, partnership, corporation (including a
business trust), joint stock company, limited liability company, trust,
unincorporated association, joint venture, government or any agency or political
subdivision thereof or any other entity.

        "Physical Property" means personal property constituting Instruments,
including bankers' acceptances, commercial paper, negotiable certificates of
deposit and other obligations that are susceptible of physical delivery.

        "Portfolio Net Losses" means with respect to any Collection Period, the
aggregate amount of gross charge-offs of Receivables in the Servicing Portfolio
during such Collection Period net of all Liquidation Proceeds with respect to
any such Receivables (including post- disposition amounts received on previously
charged-off Receivables).

        "Portfolio Net Loss Ratio" means, as of any date, a fraction, expressed
as a percentage, the numerator of which equals the product of 4.0 times the sum
of the Portfolio Net Losses for the three (3) preceding Collection Periods and
the denominator of which equals the Average Servicing Portfolio as of such date.
The Portfolio Net Loss Ratio shall be determined on each Determination Date and
shall remain in effect until recalculated on the next succeeding Determination
Date.

        "Pre-Computed Receivable" means any Receivable under which the portion
of a payment allocable to earned interest (which may be referred to in the
related Receivable as an add-on finance charge) and the portion allocable to the
Amount Financed is determined according to the sum of periodic balances or the
sum of monthly balances or any equivalent method or are monthly actuarial
receivables.

        "Preference Amount" means any amounts previously distributed to an
Investor that are recoverable and sought to be recovered as a voidable
preference by a trustee in bankruptcy with respect to Drive or the Borrower
pursuant to the U.S. Bankruptcy Code (11 U.S.C.), as amended from time to time,
in accordance with a final nonappealable order of a court having competent
jurisdiction.

        "Principal Balance" means, with respect to any Receivable, as of any
date, (i) in the case of a Pre-Computed Receivable, the payoff balance of such
Receivable computed as set forth in such Receivable minus any Cram Down Loss in
respect of such Receivable, and (ii) in the case of a Simple Interest
Receivable, the Amount Financed minus that portion of all payments (including
all Scheduled Payments and any prepayments in full or partial prepayment)
received on or prior to such date and allocable to principal in accordance with
the simple interest method minus any Cram Down Loss in respect of such
Receivable.

        "Property" has the meaning set forth in the Receivables Purchase
Agreement.

        "Purchase Amount" means, with respect to a Receivable, the Principal
Balance and all accrued and unpaid interest on such Receivable as of the date as
of which such Receivable is to be purchased.

        "Purchase Date" means, with respect to a Receivable, the date on which
such Receivable is sold or contributed to the Borrower pursuant to the
Receivables Purchase Agreement.

                                     - 14 -
<PAGE>   20

        "Purchased Receivable" means, with respect to any Collection Period, any
Receivable as to which the Purchase Amount has been deposited in the Collection
Account by or on behalf of the Borrower or the Servicer, as applicable, on or
before the related Determination Date and any Receivable purchased by the
Servicer or Drive pursuant to Section 8.7, 8.17 or 8.19 as to which the Purchase
Amount has been deposited in the Collection Account by or on behalf of the
Servicer or Drive, as the case may be.

        "Rating Agencies" means Standard & Poor's and Moody's.

        "Receivable" means a retail installment contract or loan or any other
similar document acceptable to the Agent (and related security agreement) for a
new or used automobile, light truck or sports utility vehicle (and all
accessories thereto), and all rights and obligations under such a contract or
loan.

        "Receivable Collateral" means the Transferred Receivables together with
the other Property.

        "Receivable File" means, with respect to each Transferred Receivable:

                (a) the fully executed original of such Receivable (together
        with any agreements modifying such Receivable, including, without
        limitation, any extension agreements provided that the Collateral Agent
        shall not have to certify the receipt of any such agreements modifying
        or extending the Receivable);

                (b) the original credit application, or a copy thereof, of each
        Obligor; and

                (c) a copy of the original Lien Certificate (when received) and
        a copy of any such other documents, if any, that Drive keeps on file in
        accordance with its customary procedures indicating that the Financed
        Vehicle is owned by the Obligor and subject to the interest of Drive as
        first lienholder or secured party (including any Lien Certificate
        received by Drive), or, if such original Lien Certificate has not yet
        been received, a copy of the application therefor, if any, showing Drive
        as secured party.

        "Receivables Purchase Agreement" means the Master Purchase Agreement,
dated as of August 18, 2000, by and between the Borrower and Drive.

        "Record Date" means, with respect to any Determination Date or
Distribution Date, the last day of the immediately preceding calendar month.

        "Registrar of Titles" means, with respect to any state, the Official
Body responsible for the registration of, and the issuance of certificates of
title relating to, motor vehicles and liens thereon.

        "Required Holdback" means, as of any date, the product of (1) the
Required Percentage and (2) the sum of (x) the Aggregate Outstanding Principal
Balance of Transferred Receivables which are Eligible Receivables on such date
plus (y) the amount on deposit in the Collection Account on such date.

        "Required Lenders" means, at any time, Lenders having Commitments or, if
no Commitments are in effect, Advances, aggregating at least 51% of the Total
Commitment or Advances (as the case may be).

                                     - 15 -
<PAGE>   21

        "Required Percentage" means 10% or, upon written notice given by the
Borrower to the other parties under this Agreement, such other higher or lower
rate agreed to by the Borrower and the Agent from time to time.

        "Responsible Officer" means, with respect to any Person that is not an
individual, the President, any Vice-President or Assistant Vice-President,
Corporate Trust Officer or the Controller of such Person, or any other officer
or employee having similar functions.

        "Schedule of Receivables" means the schedule of all retail installment
contracts sold and transferred to the Borrower on the Initial Advance Date
attached to the Receivables Purchase Agreement as Schedule A, as supplemented by
each Schedule of Subsequent Receivables, as each may be amended from time to
time, including to remove Purchased Receivables.

        "Schedule of Subsequent Receivables" means on any date, the schedule of
all retail installment contracts sold and transferred to the Borrower pursuant
to the Receivables Purchase Agreement on such date and shall supplement the
Schedule of Receivables.

        "Scheduled Payment" means, with respect to any Collection Period for any
Receivable, the amount set forth in such Receivable as required to be paid by
the Obligor thereon in such Collection Period. If, after the applicable Purchase
Date, the Obligor's obligation under a Receivable with respect to a Collection
Period has been modified so as to differ from the amount specified in such
Receivable as a result of (i) the order of a court in an insolvency proceeding
involving the Obligor, (ii) the Soldiers' and Sailors' Civil Relief Act of 1940
or (iii) modifications or extensions of the Receivable permitted by Section
8.2(b) or 8.2(c), the Scheduled Payment with respect to such Collection Period
shall refer to the Obligor's payment obligation with respect to such Collection
Period as so modified.

        "Secured Parties" means, collectively, the Agent, each Lender, the
Collateral Agent, each other Affected Person and their respective successors and
assigns.

        "Securities Account" has the meaning set forth in Section 8-501(a) of
Article 8.

        "Securities Entitlement" has the meaning set forth in Section
8-102(a)(17) of Article 8.

        "Securities Intermediary" has the meaning set forth in Section
8-102(a)(14) of Article 8.

        "Security Agreement" means the Security and Collateral Agent Agreement
dated as of the date hereof among the Agent, the Collateral Agent, Drive and the
Borrower, including all amendments, modifications and supplements thereto.

        "Seller" means Drive in its capacity as the Seller under the Receivables
Purchase Agreement.

        "Servicer" means Drive or, as applicable, any successor servicer
appointed pursuant to Section 13.3.

        "Servicer Delinquency Ratio" means, as of the last day of a Collection
Period, the ratio, expressed as a percentage, computed by dividing (i) the
Aggregate Outstanding Principal Balance on such date of each Receivable in the
Servicing Portfolio which is a Delinquent Receivable by

                                     - 16 -
<PAGE>   22

(ii) the Aggregate Outstanding Principal Balance of all Receivables in the
Servicing Portfolio on the last day of such Collection Period.

        "Servicer Termination Event" has the meaning set forth in Section 13.1.

        "Servicer's Certificate" means, with respect to each Determination Date,
a certificate, completed by and executed on behalf of the Servicer, in
accordance with Section 8.9, substantially in the form attached hereto as
Exhibit E.

        "Servicing Fee Rate" means 3.0%, or, following a Servicer Termination
Event, such higher rate as may be payable at such time to a successor Servicer.

        "Servicing Portfolio" means as of any date, the Aggregate Outstanding
Principal Balance of all Receivables (whether or not thereafter sold or disposed
of) which are serviced by the Servicer or any of its Affiliates at such time.

        "Servicing Procedures Manual" means Drive's written credit, servicing
and collections procedures delivered to the Agent prior to the Closing Date, as
amended from time to time in accordance herewith.

        "Settlement Date" means, with respect to any Advance, (x) each
Distribution Date, (y) at the option of the Agent or the Borrower, the last day
of the current Interest Period of such Advance or (z) the date on which the
Borrower shall prepay such Advance pursuant to Section 4.1 hereof.

        "Simple Interest Receivable" means a Receivable under which principal
and interest is allocated according to the simple interest method.

        "Standard & Poor's" means Standard & Poor's Ratings Services, a division
of The McGraw-Hill Companies, Inc., or any successor thereto.

        "Subsequent Cut-Off Date" means, with respect to any Subsequent
Receivable, the close of business on any day at least one Business Day but not
more than thirty days before the related Subsequent Purchase Date.

        "Subsequent Purchase Date" has the meaning set forth in the Receivables
Purchase Agreement.

        "Subsequent Receivable" means each of the Receivables sold to the
Borrower pursuant to Section 2.2 of the Receivables Purchase Agreement, which
shall be listed on a Schedule of Subsequent Receivables.

        "Subsidiary" means, with respect to any Person, a corporation of which
such Person and/or its other Subsidiaries own, directly or indirectly, such
number of outstanding shares as have more than 50% of the ordinary voting power
for the election of directors.

        "Supplemental Servicing Fee" means, with respect to any Collection
Period, all administrative fees, expenses and charges paid by or on behalf of
Obligors, including any late fees, non-sufficient fund or returned check fees
and liquidation fees collected on the Receivables

                                     - 17 -
<PAGE>   23

during such Collection Period and reimbursement of any personal property taxes
assessed on repossessed Financed Vehicles paid by the Servicer.

        "Tangible Net Worth" means, with respect to any Person, the net worth of
such Person calculated in accordance with GAAP after subtracting therefrom the
aggregate amount of such Person's intangible assets, including, without
limitation, goodwill, franchises, licenses, patents, trademarks, tradenames,
copyrights and service marks.

        "Take-Out Securitization" means (i) a financing transaction of any sort
undertaken by the Borrower or any Affiliate of Drive or the Borrower secured,
directly or indirectly, by any Receivable which was a Transferred Receivable
prior to such transaction or (ii) any Drive or other asset securitization,
secured loans, whole loan sale or similar transactions involving any Receivable
which was a Transferred Receivable prior to such transaction or any beneficial
interest therein.

        "Taxes" has the meaning set forth in Section 5.1(b).

        "Total Commitment" means the aggregate of the Commitments of all
Lenders.

        "Total Servicing Fee" means the sum of the Basic Servicing Fee and the
Supplemental Servicing Fee.

        "Transaction Documents" means this Agreement, the Notes, the Custodian
Agreement, the Receivables Purchase Agreement, the Security Agreement, the
Intercreditor Agreement, the Parent Guarantee, the Parent Pledge Agreement, the
Parent Security Agreement, and the other documents to be executed and delivered
in connection with this Agreement.

        "Transferred Receivable" means each Receivable which appears on any
Schedule of Receivables at any time hereafter submitted to the Borrower pursuant
to the Receivables Purchase Agreement, whether purchased by the Borrower or
contributed to the capital of the Borrower. Once a Receivable appears on any
such Schedule of Receivables it shall remain a Transferred Receivable; provided,
however, that any Receivable that is released from the Lien granted to the
Collateral Agent for the benefit of the Secured Parties pursuant to Section 7 of
the Security Agreement shall not be a "Transferred Receivable" after such
Receivable is so released.

        "Transfer Request" has the meaning set forth in Section 7(a) the
Security Agreement.

        "UCC" means the Uniform Commercial Code as from time to time in effect
in the applicable jurisdiction or jurisdictions.

        "Uncertificated Security" has the meaning set forth in Section
8-102(a)(18) of Article 8.

        "Unmatured Facility Termination Event" means any event that, if it
continues uncured, will, with lapse of time or notice or lapse of time and
notice, constitute a Facility Termination Event.

        "Weekly Pool Report Date" means the day of each calendar week selected
as such from time to time and notified in writing at least one month in advance
by the Borrower to the Agent, the Collateral Agent.

                                     - 18 -
<PAGE>   24

        "written" or "in writing" (and other variations thereof) means any form
of written communication or a communication by means of telex, telecopier
device, telegraph or cable.

        "Year 2000 Compliant" means, with regard to any software, embedded
microchips or other processing capabilities utilized by any Person, that such
software, embedded microchips or other processing capabilities are able to
interpret and manipulate data involving all calendar dates correctly and without
causing any abnormal ending scenario, including dates in and after the year
2000.

                a.      Other Definitional Provisions. (a) Unless otherwise
                        specified therein, all terms defined in this Agreement
                        have the meanings as so defined herein when used in any
                        other Transaction Document, certificate, report or other
                        document made or delivered pursuant hereto.

        (b)     Each term defined in the singular form in Section 1.1 or
elsewhere in this Agreement shall mean the plural thereof when the plural form
of such term is used in this Agreement or any other Transaction Document,
certificate, report or other document made or delivered pursuant hereto, and
each term defined in the plural form in Section 1.1 shall mean the singular
thereof when the singular form of such term is used herein or therein.

        (c)     The words "hereof," "herein," "hereunder" and similar terms when
used in this Agreement shall refer to this agreement as a whole and not to any
particular provision of this Agreement, and article, section, subsection,
schedule and exhibit references herein are references to articles, sections,
subsections, schedules and exhibits to this Agreement unless otherwise
specified.

6.
     THE FACILITY, ADVANCE PROCEDURES AND NOTES

                a.      Facility. On the terms and subject to the conditions set
                        forth in this Agreement, each Lender shall make Advances
                        (to the extent of its Commitment) to the Borrower on a
                        revolving basis from time to time during the period
                        commencing on the Effective Date and ending on the
                        Facility Termination Date, in each case in such amounts
                        as may be requested by the Borrower pursuant to Section
                        2.2. If on any day there shall be more than one Lender,
                        any Advance requested by the Borrower on such day shall
                        be allocated among the Lenders pro rata on the basis of
                        their respective Commitment Percentages. The lending
                        arrangement made available to the Borrower pursuant to
                        the preceding sentences of this Section 2.1 is herein
                        called the "Facility". The aggregate principal amount of
                        all Advances from time to time outstanding hereunder
                        shall not exceed the lesser of (a) the Facility Limit
                        and (b) the Borrowing Base. In addition, under no
                        circumstances shall any Lender make any Advance if after
                        giving effect thereto the aggregate outstanding
                        principal balance of all Advances owing to such Lender
                        would exceed its Commitment. Within the limits of the
                        Facility, the Borrower may borrow, prepay and reborrow
                        under this Section 2.1.

                                     - 19 -
<PAGE>   25

                b.      Advance Procedures. The Borrower may request an Advance
                        hereunder by giving notice to the Agent and the
                        Collateral Agent of a proposed Advance not later than
                        1:00 P.M., New York time, three Business Days prior to
                        the proposed date of such Advance. Each such notice
                        (herein called an "Advance Request") shall be in the
                        form of Exhibit A-1 and shall include the date and
                        amount of such proposed Advance, the desired duration of
                        the Interest Period for such Advance, an estimate of the
                        amount of Receivables to be financed in the week
                        commencing on the date such Advance is requested to be
                        made and the Schedule of Receivables or Schedule of
                        Subsequent Receivables (as the case may be) setting
                        forth the information required therein with respect to
                        the Receivables, if any, to be acquired by the Borrower
                        on the date such Advance is requested to be made. No
                        more than two Advance Requests may be made in any
                        calendar week. Any Advance Request given by the Borrower
                        pursuant to this Section 2.2 shall be irrevocable and
                        binding on the Borrower.

                c.      Funding. Subject to the satisfaction of the conditions
                        precedent set forth in Article VII with respect to such
                        Advance and the limitations set forth in Section 2.1,
                        the Lenders shall make the proceeds of such requested
                        Advance available to the Borrower by deposit to such
                        account as may be designated by the Borrower in the
                        related Advance Request in same day funds no later than
                        3:00 p.m., New York City time, on the proposed date of
                        the Advance. Each Advance shall be on a Business Day and
                        shall be in an amount of at least $1,000,000 (or an
                        integral multiple of $50,000 in excess thereof).

                c.      Representation and Warranty. Each request for an Advance
                        pursuant to Section 2.2 shall automatically constitute a
                        representation and warranty by the Borrower to the Agent
                        and the Lenders that, on the requested date of such
                        Advance, (a) the representations and warranties
                        contained in Article X will be true and correct as of
                        such requested date as though made on such date, (b) no
                        Facility Termination Event or Unmatured Facility
                        Termination Event has occurred and is continuing or will
                        result from the making of such Advance, and (c) after
                        giving effect to such requested Advance, the aggregate
                        principal balance of the outstanding Advances hereunder
                        will not exceed the lesser of the Facility Limit or the
                        Borrowing Base.

                e.      Voluntary Termination of Facility; Reduction of Facility
                        Limit.

        At any time the Borrower may, upon at least five Business Days' prior
written notice to the Agent terminate in whole or reduce the Total Commitment.
Each partial reduction shall be in an aggregate amount of $5,000,000 or integral
multiples of $1,000,000 in excess thereof. Partial reductions of the Total
Commitment pursuant to this Section 2.5(a) shall be allocated to the Commitment
of each Lender pro rata based on the Commitment Percentage represented by such
Commitment. Any termination or reduction of the Total Commitment shall require
(i) in the event of a partial reduction and after giving effect to any such
partial reduction and any prior partial reduction, that the remaining Facility
Limit be not less than $10,000,000, and (ii) in

                                     - 20 -
<PAGE>   26

connection therewith that the Borrower comply with Section 3.2(b), Section
4.l(b) and Section 6.3. The Agent shall promptly provide copies of any such
notice of termination or reduction received by it to each Lender together with a
computation of the amount by which its Commitment (if any) has been reduced.

                f.      Notes. All Advances to a Lender shall be evidenced by a
                        Note, with appropriate insertions, payable to the order
                        of such Lender. The Borrower hereby irrevocably
                        authorizes each Lender to make (or cause to be made)
                        appropriate notations on the grid attached to its Note
                        (or on any continuation of such grid, or at such
                        Lender's option, in its records), which notations, if
                        made, shall evidence, inter alia, the date of, the
                        outstanding principal of, and the yield rate(s) and
                        Interest Period(s) applicable to the Advances evidenced
                        thereby. Such notations shall be rebuttably presumptive
                        evidence of the subject matter thereof absent manifest
                        error; provided, however, that the failure to make any
                        such notations shall not limit or otherwise affect any
                        of the Obligations.

7.
   YIELD, FEES, ETC.

                a.      Interest. The Borrower hereby promises to pay interest
                        at the Bank Rate on the unpaid principal amount of each
                        Advance (or each portion thereof) for the period
                        commencing on the date of such Advance until such
                        Advance is paid in full. No provision of this Agreement
                        or the Note shall require the payment or permit the
                        collection of interest in excess of the maximum
                        permitted by applicable law.

                b.      Interest Payment Dates. Interest accrued on each Advance
                        shall be payable, without duplication:

                        i.      on the Facility Termination Date;

                        ii.     on the date of any payment or prepayment, in
                                whole or in part, of principal outstanding on
                                such Advance; and

                        iii.    on each Distribution Date.

                c.      Selection of Interest Periods, etc.

                        i.      The Borrower, after consultation with the Agent,
                                shall select the duration of the initial and
                                each subsequent Interest Period relating to each
                                Advance. Unless consented to or directed by the
                                Agent, the aggregate number of Interest Periods
                                for all Advances outstanding at any one time
                                hereunder shall not exceed 12.

                d.      Fee. The Borrower agrees to pay to the Agent on
                        September 15, 2000 a fee of $50,000.

                                     - 21 -
<PAGE>   27

                e.      Computation of Interest. All Interest shall be computed
                        on the basis of the actual number of days (including the
                        first day but excluding the last day) occurring during
                        the period for which such Interest is payable over a
                        year comprised of 360 days (or, in the case of Interest
                        on an Advance bearing Interest at the Alternate Base
                        Rate, 365 days or, if appropriate, 366 days).

8.

   REPAYMENTS AND PREPAYMENTS

                a.      Repayments and Prepayments. The Borrower shall repay in
                        full the unpaid principal amount of each Advance on the
                        Final Scheduled Payment Date. Prior thereto, the
                        Borrower:

                        i.      may, from time to time on any Business Day, make
                                a prepayment, in whole or in part, of the
                                outstanding principal amount of any Advance;
                                provided, however, that

                                (1)     all such voluntary prepayments shall
                                        require at least two but no more than
                                        five Business Days' prior written notice
                                        to the Agent; and

                                (2)     all such voluntary partial prepayments
                                        shall be in a minimum amount of
                                        $1,000,000 and an integral multiple of
                                        $500,000;

                        ii.     shall, on or prior to each date when any
                                reduction in the Facility Limit shall become
                                effective pursuant to Section 2.5, make a
                                prepayment of the Advances in an amount equal to
                                the excess, if any, of the aggregate outstanding
                                principal amount of the Advances over the
                                Facility Limit as so reduced;

                        iii.    shall, on each date when the outstanding amount
                                of Advances exceeds the Borrowing Base, make a
                                prepayment of the Advances in an amount equal to
                                such excess;

                        iv.     shall, immediately upon any acceleration of the
                                maturity date of any Advances pursuant to
                                Section 14.2, repay all Advances, unless,
                                pursuant to Section 14.2(a), only a portion of
                                all Advances is so accelerated, in which event
                                the Borrower shall repay the accelerated portion
                                of the Advances; and

                        v.      shall, on the date the Borrower receives any net
                                proceeds from any TakeOut Securitization (after
                                deducting all costs and expenses of such TakeOut
                                Securitization), make a prepayment of the
                                Advances in an amount substantially equal to
                                such net proceeds or, if less, the total
                                outstanding amount of Advances.

                                     - 22 -
<PAGE>   28

        Each such prepayment shall be subject to the payment of any amounts
required by Section 6.3 resulting from a prepayment or payment of an Advance
prior to the end of the Interest Period with respect thereto.

9.
        PAYMENTS; TAXES

                a.      Making of Payments; Taxes. (a) Subject to, and in
                        accordance with, the provisions of the Security
                        Agreement, all payments of principal of, or Interest on,
                        the Advances and of all fees and other amounts shall be
                        made by the Borrower no later than 2:00 p.m., New York
                        time, on the day when due in lawful money of the United
                        States of America in immediately available funds to the
                        Agent, at its account (account number - _________; and
                        account name - _________) maintained at the office of
                        _________ (ABA #________), reference: [Drive 2000
                        Warehouse], with telephone notice (including wire
                        number) to the Agent (telephone number _____________),
                        or such other account as the Agent shall designate in
                        writing to the Borrower and the Collateral Agent (the
                        "Agent's Account"). Payments received by the Agent after
                        2:00 p.m., New York time, on any day will be deemed to
                        have been received by the Agent on its next following
                        Business Day. The Agent shall, upon receipt of such
                        payments, promptly remit such payments (in the same type
                        of funds received by the Agent) to each Lender which has
                        an interest in such payments hereunder and pro rata
                        among the Lenders with such interests on the basis of
                        the respective amounts owing to such Lenders of the
                        Obligations to which such payments relate.

        (b)     All payments described in Section 5.1(a) and all other payments
made by or on behalf of the Borrower, the Seller, Drive or the Servicer to the
Agent for the benefit of itself or the Lenders or to any other Affected Person
under this Agreement and any other Transaction Document shall be made free and
clear of, and without deduction or withholding for or on account of, any present
or future income, stamp or other taxes, levies, imposts, duties, charges, fees,
deductions or withholdings, now or hereafter imposed, levied, collected,
withheld or assessed by any Official Body (excluding (i) taxes imposed on the
net income of the Agent or such other Affected Person, however denominated, and
(ii) franchise taxes imposed on the net income of the Agent or such other
Affected Person in each case imposed: (1) by the United States or any political
subdivision or taxing authority thereof or therein; (2) by any jurisdiction
under the laws of which the Agent or such Affected Person or its applicable
lending office is organized or located, managed or controlled or in which its
principal office is located or any political subdivision or taxing authority
thereof or therein; or (3) by reason of any connection between the jurisdiction
imposing such tax and the Agent, such Affected Person or such lending office
other than a connection arising solely from this Agreement or any other
Transaction Document or any transaction hereunder or thereunder) (all such
non-excluded taxes, levies, imposts, duties, charges, fees, deductions or
withholdings, collectively or individually, "Taxes"). If any such Taxes are
required to be withheld from any amounts payable to the Agent or any other
Affected Person hereunder or under any other Transaction Document, the amounts
so payable to the Agent or such Affected Person shall be increased to the extent
necessary to yield to the Agent or such Affected Person (after payment of all
Taxes) all amounts payable hereunder

                                     - 23 -
<PAGE>   29

or thereunder at the rates or in the amounts specified in this Agreement and the
other Transaction Documents. The Borrower (or the party required to "gross-up"
the applicable payment) and Drive, jointly and severally, shall indemnify the
Agent or any such Affected Person for the full amount of any such Taxes on the
Settlement Date occurring after the date of written demand therefor by the
Agent; provided that no Person shall be indemnified pursuant to this Section
5.1(b) to the extent the reason for such indemnification relates to, or arises
from, the failure by such Person to comply with the provisions of Section
5.1(c).

        (c)     Each Affected Person that is not incorporated under the laws of
the United States of America or a state thereof or the District of Columbia
shall:

                                (1)     prior to becoming a party to, or
                                        acquiring an interest in, any
                                        Transaction Document (if not a party to
                                        a Transaction Document), deliver to the
                                        Borrower and the Agent (A) two duly
                                        completed copies of IRS Form W-8BEN or
                                        Form W-8ECI, or successor applicable
                                        form, as the case may be, and (B) an IRS
                                        Form W-8 or W-9, or successor applicable
                                        form, as the case may be; and

                                (2)     deliver to the Borrower and the Agent
                                        two (2) further copies of any such form
                                        or certification on or before the date
                                        that any such form or certification
                                        expires or becomes obsolete and after
                                        the occurrence of any event requiring a
                                        change in the most recent form
                                        previously delivered by it to the
                                        Borrower and the Agent;

unless, in any such case, an event (including, without limitation, any change in
treaty, law or regulation) has occurred after the Closing Date and prior to the
date on which any such delivery would otherwise be required which renders all
such forms inapplicable or which would prevent such Affected Person from duly
completing and delivering any such form with respect to it, and such Affected
Person so advises the Borrower and the Agent. Each such Affected Person so
organized shall certify (i) in the case of an IRS Form W-8BEN or IRS Form
W-8ECI, that it is entitled to receive payments under the this Agreement and the
other Transaction Documents without deduction or withholding of any United
States federal income taxes and (ii) in the case of an IRS Form W-8 or IRS Form
W-9, that it is entitled to an exemption from United States backup withholding
tax.

                b.      Application of Certain Payments. Each payment of
                        principal of the Advances shall be applied to such
                        Advances as the Borrower shall direct or, in the absence
                        of such notice or during the existence of a Facility
                        Termination Event or after the Facility Termination
                        Date, as the Agent shall determine, in its discretion.

                c.      Due Date Extension. If any payment of principal or
                        Interest with respect to any Advance falls due on a day
                        which is not a Business Day, then such due date shall be
                        extended to the next following Business Day, and

                                     - 24 -
<PAGE>   30

                        additional Interest shall accrue and be payable for the
                        period of such extension at the rate applicable to such
                        Advance.

10.
      INCREASED COSTS, ETC.

                a.      Increased Costs. (a) If due to the introduction of or
                        any change in or in the interpretation of any law or
                        regulation occurring or issued after the date hereof,
                        the Agent, any Lender or other Investor, or any of their
                        respective Affiliates (each an "Affected Person")
                        determines that compliance with any law or regulation or
                        any guideline or request from any central bank or other
                        Official Body (whether or not having the force of law)
                        affects or would affect the amount of capital required
                        or expected to be maintained by such Affected Person and
                        such Affected Person determines that the amount of such
                        capital is increased by or based upon the existence of
                        its obligations or commitments hereunder or with respect
                        hereto or to the funding thereof and other obligations
                        or commitments of the same type, then, upon demand by
                        such Affected Person (with a copy to the Agent) (which
                        demand shall be accompanied by a statement setting forth
                        the basis for the calculations of the amount being
                        claimed), the Borrower and Drive, jointly and severally,
                        agree to immediately pay to the Agent, for the account
                        of such Affected Person (as a third-party beneficiary),
                        from time to time as specified by such Affected Person,
                        additional amounts sufficient to compensate such
                        Affected Person in the light of such circumstances, to
                        the extent that such Affected Person reasonably
                        determines such increase in capital to be allocable to
                        the existence of any of such obligations, commitments or
                        fundings. Such written statement shall, in the absence
                        of manifest error, be rebuttably presumptive evidence of
                        the subject matter thereof. Any Affected Person claiming
                        any additional amounts payable pursuant to this Section
                        6.1(a) agrees to use reasonable efforts (consistent with
                        legal and regulatory restrictions) to designate a
                        different office or branch of such Affected Person as
                        its lending office or take such other actions if the
                        making of such a designation or taking of such other
                        actions would avoid the need for, or reduce the amount
                        of, any such additional amounts and would not, in the
                        reasonable judgment of such Affected Person, be
                        otherwise disadvantageous to such Affected Person.

        (b)     If, due to either (i) the introduction of or any change (other
than any change by way of imposition or increase of reserve requirements
referred to in Section 6.2) in or in the interpretation by an Official Body of
any law or regulation or (ii) compliance with any guideline or request from any
central bank or other Official Body (whether or not having the force of law)
issued after the date hereof, there shall be any increase in the cost to a
Lender of agreeing to make Advances in respect of which Interest is computed by
reference to the Eurodollar Rate, then, upon demand by such Lender (with a copy
to the Agent) (which demand shall be accompanied by a statement setting forth
the basis for the amount being claimed), the Borrower and Drive, jointly and
severally, agree to immediately pay to the Agent, for the account of such Lender
(as a third-party beneficiary), from time to time as specified by such Lender,
additional amounts sufficient to compensate such Lender for such increased
costs. Such written statement

                                     - 25 -
<PAGE>   31

shall, in the absence of manifest error, be rebuttably presumptive evidence of
the subject matter thereof. Any Affected Person claiming any additional amounts
payable pursuant to this Section 6.1(b) agrees to use reasonable efforts
(consistent with legal and regulatory restrictions) to designate a different
office or branch of such Affected Person as its lending office or to take such
other actions if the making of such a designation or taking of such other
actions would avoid the need for, or reduce the amount of, any such additional
amounts and would not, in the reasonable judgment of such Affected Person, be
otherwise disadvantageous to such Affected Person.

                b.      Additional Interest on Advances Bearing a Eurodollar
                        Rate. The Borrower and Drive, jointly and severally,
                        agree to pay to any Lender, so long as such Lender shall
                        be required under regulations of the Board of Governors
                        of the Federal Reserve System to maintain reserves with
                        respect to liabilities or assets consisting of or
                        including Eurocurrency Liabilities, additional Interest
                        on the unpaid Advances of such Lender during each
                        Interest Period in respect of which Interest is computed
                        by reference to the Eurodollar Rate, for such Interest
                        Period, at a rate per annum equal at all times during
                        such Interest Period to the remainder obtained by
                        subtracting (i) the Eurodollar Rate for such Interest
                        Period from (ii) the rate obtained by dividing such
                        Eurodollar Rate referred to in clause (i) above by that
                        percentage equal to 100% minus the Eurodollar Rate
                        Reserve Percentage of such Lender for such Interest
                        Period, payable on each date on which Interest is
                        payable on such Advances. Such additional Interest shall
                        be determined by such Lender and notice thereof
                        (accompanied by a statement setting forth the basis for
                        the amount being claimed) given to the Borrower through
                        the Agent within 30 days after any Interest payment is
                        made with respect to which such additional Interest is
                        requested. Such written statement shall, in the absence
                        of manifest error, be rebuttably presumptive evidence of
                        the subject matter thereof. Any Affected Person claiming
                        any additional amounts payable pursuant to this Section
                        6.2 agrees to use reasonable efforts (consistent with
                        legal and regulatory restrictions) to designate a
                        different office or branch of such Affected Person as
                        its lending office if the making of such a designation
                        would avoid the need for, or reduce the amount of, any
                        such additional amounts and would not, in the reasonable
                        judgment of such Affected Person, be otherwise
                        disadvantageous to such Affected Person.

                c.      Funding Losses. The Borrower and Drive, jointly and
                        severally, hereby agree that upon demand by any Affected
                        Person (which demand shall be accompanied by a statement
                        setting forth the basis for the calculations of the
                        amount being claimed) they will indemnify such Affected
                        Person against any net loss or expense which such
                        Affected Person may sustain or incur (including, without
                        limitation, any net loss or expense incurred by reason
                        of or resulting from interest to accrue on the related
                        commercial paper after the date of any failed borrowing,
                        payment or prepayment of an Advance or from the
                        liquidation or reemployment of deposits or other funds
                        acquired by such Affected Person to fund or maintain any
                        Advance to the Borrower), as reasonably determined by
                        such Affected Person, as a result of any failure by the
                        Borrower to borrow an Advance on the date

                                     - 26 -
<PAGE>   32

                        specified therefor in an Advance Request (other than due
                        to a default by a Lender) or as a result of any payment
                        or prepayment (including any mandatory prepayment) of
                        any Advance on a date other than the last day of the
                        Interest Period for such Advance. Such written statement
                        shall, in the absence of manifest error, be rebuttably
                        presumptive evidence of the subject matter thereof.

                d.      Replacement of Affected Person. Upon the receipt by the
                        Borrower of a claim for reimbursement or compensation
                        under Section 6.1 or 6.2 hereof by an Affected Person,
                        if payment thereof shall not be waived by such Affected
                        Person, the Borrower may (a) request such Affected
                        Person or the Lender that has assigned an interest in
                        its Advances to such Affected Person to use reasonable
                        efforts to assist the Borrower in its attempt to obtain
                        a replacement bank or financial institution satisfactory
                        to the Borrower (in the case of a replacement Lender)
                        and the Agent (which consent shall not be unreasonably
                        withheld), to acquire and assume all or a ratable part
                        of such Affected Person's commitment to make Advances,
                        Advances, or interests therein (a "Replacement Person"),
                        or (b) request one or more of the other Lenders or
                        Investors to acquire and assume all or a part of such
                        Affected Person's commitment to make Advances, Advances
                        or interests therein. Upon notice from the Borrower,
                        such Affected Person shall, or the Lender that has
                        assigned an interest in its Advances to such Affected
                        Person shall cause such Affected Person to, assign,
                        without recourse, its commitment to make Advances,
                        Advances or interests therein and its other rights and
                        obligations (if any) hereunder, or a ratable share
                        thereof, to the Replacement Person or Replacement
                        Persons designated by the Borrower and consented to by
                        the Agent for a purchase price equal to the sum of the
                        principal amount of the Advances or interests therein so
                        assigned, all accrued and unpaid Interest thereon and
                        any other amounts (including any amounts owing under
                        this Article VI) to which such Affected Person is
                        entitled hereunder; provided, that the Borrower shall
                        provide such Affected Person with an Officer's
                        Certificate stating that such Replacement Person has
                        advised the Borrower that it is not subject to, or has
                        agreed not to seek, such increased amount.

11.
      EFFECTIVENESS; CONDITIONS TO ADVANCES

                a.      Effectiveness. This Agreement shall become effective on
                        the first day (the "Effective Date") on which the Agent,
                        on behalf of the Lenders, shall have received the
                        following, each in form and substance satisfactory to
                        the Agent, provided that the Effective Date may not
                        occur later than August 18, 2000 without the prior
                        written consent of the Agent and the Lenders:

                        i.      Agreement. This Agreement, executed by each
                                party thereto;

                        ii.     Accounts. Evidence that the Collateral Account
                                and the Collection Account have been
                                established;

                                     - 27 -
<PAGE>   33

                        iii.    Transaction Documents. Executed counterparts of
                                each of the other Transaction Documents (other
                                than the Notes), and Custodian Fee Letter, duly
                                executed by each of the parties thereto; and

                        iv.     Other. Such other approvals, documents,
                                opinions, certificates and reports as the Agent
                                may reasonably request.

                b.      Initial Advance. The making of the initial Advance is
                        subject to the condition that the Effective Date shall
                        have occurred, the conditions set forth in Section 7.3
                        have been satisfied, and the Agent on behalf of the
                        Lenders shall have received the following, each in form
                        and substance satisfactory to the Agent:

                        i.      Note. A Note duly completed and executed by the
                                Borrower for each Lender;

                        ii.     Resolutions. A copy of the resolutions of the
                                Board of Directors (or similar items) of the
                                general partner of each of the Borrower and
                                Drive approving the Transaction Documents to be
                                delivered by it hereunder and the transactions
                                contemplated hereby, certified by its Secretary
                                or Assistant Secretary;

                        iii.    Charters. The certificates of formation of each
                                of the general partners of the Borrower and
                                Drive certified by the Secretary of State of its
                                jurisdiction of organization; certified copies
                                of the limited liability company agreements of
                                the general partners of the Borrower and Drive
                                certified by the secretary of each such general
                                partner; copies of the partnership agreements of
                                the Borrower and Drive certified by the general
                                partners thereof; and the certificates of
                                limited partnership each of the Borrower and
                                Drive certified by the Secretary of State of its
                                jurisdiction of organization;

                        iv.     Good Standing Certificates. Good Standing
                                Certificates for each of the Borrower and Drive
                                issued by the applicable Official Body of its
                                jurisdiction of organization;

                        v.      Incumbency. A certificate of the Secretary or
                                Assistant Secretary of each of the general
                                partners of the Borrower and Drive certifying
                                the names and true signatures of the officers
                                authorized on its behalf to sign this Agreement
                                and the other Transaction Documents to be
                                delivered by it (on which certificate the Agent
                                and the Lenders may conclusively rely until such
                                time as the Agent shall receive a revised
                                certificate meeting the requirements of this
                                subsection (e));

                        vi.     Filings. Acknowledgment copies of proper UCC1
                                Financing Statements (executed by the Seller
                                and/or Borrower, as applicable),

                                     - 28 -
<PAGE>   34

                                as may be necessary or, in the opinion of the
                                Agent, desirable under the UCC of all
                                appropriate jurisdictions or any comparable law
                                to perfect the security interest of the
                                Collateral Agent on behalf of the Secured
                                Parties in all Borrower Collateral in which an
                                interest may be pledged hereunder or under the
                                Security Agreement and of proper UCC1 Financing
                                Statements (executed by Drive), as may be
                                necessary or, in the opinion of the Agent,
                                desirable under the UCC of all appropriate
                                jurisdictions or any comparable law to perfect
                                the security interest of the Collateral Agent on
                                behalf of the Secured Parties in all collateral
                                subject to the Parent Security Agreement and the
                                Parent Pledge Agreement;

                        vii.    Searches. Certified copies of Requests for
                                Information or Copies (Form UCC11) (or a similar
                                search report certified by a party acceptable to
                                the Agent), dated a date reasonably near to the
                                date of the initial Advance, listing all
                                effective financing statements which name the
                                Borrower or the Seller (under their respective
                                present names and any previous names) as debtor
                                and which are filed in the jurisdictions in
                                which filings were made pursuant to Section
                                7.2(f), together with copies of such financing
                                statements;

                        viii.   Opinions. Legal opinion(s) of Cowles & Thompson,
                                P.C., special counsel for the Borrower and
                                Drive, and of in-house counsel for the
                                Custodian, each in form and substance
                                satisfactory to the Agent covering such matters
                                as the Agent may reasonably request;

                        ix.     Opinions. Legal opinion of special counsel for
                                the Borrower and Drive in the state of Texas, in
                                form and substance satisfactory to the Agent
                                covering such matters as the Agent may
                                reasonably request;

                        x.      Other. Such other approvals, documents,
                                opinions, certificates and reports as the Agent
                                may reasonably request;

                c.      All Advances. The making of each Advance (including the
                        initial Advance) is subject to the condition that the
                        Effective Date shall have occurred, the conditions set
                        forth in Section 7.2 shall have been satisfied, and to
                        the following further conditions precedent that:

                        i.      No Facility Termination Event, etc. Each of the
                                Transaction Documents shall be in full force and
                                effect and (i) no Facility Termination Event or
                                Unmatured Facility Termination Event has
                                occurred and is continuing or will result from
                                the making of such Advance, (ii) the
                                representations and warranties of the Borrower
                                contained in Article X and the Servicer and the
                                Seller contained in Section 8.6(b) are true and
                                correct as of the date of such requested
                                Advance, with the same effect as though made on
                                the date of (and after giving effect to) such
                                Advance, and (iii) after giving effect to

                                     - 29 -
<PAGE>   35

                                such Advance, the aggregate outstanding
                                principal balance of the Advances hereunder will
                                not exceed the lesser of the Facility Limit and
                                the Borrowing Base;

                        ii.     Advance Request, etc. The Agent shall have
                                received the Advance Request for such Advance in
                                accordance with Section 2.2, together with all
                                items required to be delivered in connection
                                therewith;

                        iii.    Facility Termination Date. The Facility
                                Termination Date shall not have occurred;

                        iv.     Minimum Advance Amount. The amount of such
                                Advance is not less than $1,000,000;

                        v.      Collateral Receipt. The Agent shall have
                                received a duly completed and executed
                                Collateral Receipt in respect of each Receivable
                                identified in the related Schedule of
                                Receivables or Schedule of Subsequent
                                Receivables, as the case may be, if any,
                                submitted with the Advance Request for such
                                Advance;

                        vi.     Borrowing Base Confirmation. The Agent shall
                                have received a duly completed and executed
                                certificate regarding the Borrowing Base in the
                                form attached hereto as Exhibit D (a "Borrowing
                                Base Confirmation"), computed as of the date of
                                such Advance and after giving effect thereto and
                                to the purchase by the Borrower of any
                                Receivables to be purchased by it under the
                                Receivables Purchase Agreement on such date;

                        vii.    Portfolio Compliance. The Transferred
                                Receivables, including the Subsequent
                                Receivables transferred on such date, shall meet
                                the following criteria: (A) based upon the
                                billing addresses of the Dealers, not more than
                                25% of the aggregate Principal Balances of the
                                Transferred Receivables, including such
                                Subsequent Receivables, are located in any one
                                state other than Texas or any other state with
                                respect to which the Agent have received an
                                opinion substantially in the form of the
                                opinions delivered pursuant to Section 7.2(i);
                                (B) Pre-Computed Receivables shall not exceed 2%
                                of the Transferred Receivables by Aggregate
                                Outstanding Principal Balance; (C) at least 95%
                                of the Receivables shall have outstanding
                                principal balances of less than $40,000; and
                                [(D) Receivables with an original term of more
                                than 60 months but less than or equal to 72
                                months shall not exceed [3]% of the Transferred
                                Receivables by Aggregate Outstanding Principal
                                Balance]; and

                        viii.   Other. The Agent shall have received such other
                                approvals, documents, opinions, certificates and
                                reports as it may reasonably request.

                                     - 30 -
<PAGE>   36

12.
      ADMINISTRATION AND SERVICING OF RECEIVABLES

                a.      Duties of the Servicer. The Servicer is hereby
                        authorized to act as agent for the Borrower and the
                        Collateral Agent and in such capacity shall manage,
                        service, administer and make collections on the
                        Transferred Receivables and perform the other actions
                        required by the Servicer under this Agreement. The
                        Servicer agrees that its servicing of the Transferred
                        Receivables shall be carried out in accordance with
                        customary and usual procedures of institutions that
                        service motor vehicle retail installment contracts and,
                        to the extent more exacting, with the degree of skill
                        and attention that the Servicer exercises from time to
                        time with respect to comparable motor vehicle
                        receivables that it services for itself or others. In
                        performing such duties, it shall comply with its current
                        servicing policies and procedures, as such servicing
                        policies and procedures may be amended from time to
                        time, so long as such amendments shall not materially
                        and adversely affect the interests of the Secured
                        Parties. The Servicer's duties shall include collection
                        and posting of all payments, responding to inquiries of
                        Obligors on the Transferred Receivables, investigating
                        delinquencies, sending statements or payment coupons to
                        Obligors, monitoring the collateral, accounting for
                        collections and furnishing monthly and annual statements
                        to the Collateral Agent and the Agent with respect to
                        distributions and performing the other duties specified
                        herein. To the extent consistent with the standards,
                        policies and procedures otherwise required hereby, the
                        Servicer shall follow its customary standards, policies
                        and procedures and shall have full power and authority,
                        acting alone, to do any and all things in connection
                        with management, servicing, administration and
                        collection that it may deem necessary or desirable.
                        Without limiting the generality of the foregoing, the
                        Servicer is hereby authorized and empowered by the
                        Borrower and the Collateral Agent to execute and
                        deliver, on behalf of the Borrower and the Collateral
                        Agent, any and all instruments of satisfaction or
                        cancellation, or of partial or full release or
                        discharge, and all other comparable instruments, with
                        respect to the Transferred Receivables and the Financed
                        Vehicles to the extent permitted by the Transaction
                        Documents. The Servicer is authorized to release Liens
                        on Financed Vehicles granted by the Transferred
                        Receivables in order to collect insurance proceeds with
                        respect thereto and to liquidate such Financed Vehicles
                        in accordance with its customary standards, policies and
                        procedures. The Servicer is hereby authorized to
                        commence, in its own name or in the name of the Borrower
                        or the Collateral Agent (provided that, if the Servicer
                        is acting in the name of the Collateral Agent, it has
                        obtained the Collateral Agent's consent, which consent
                        shall not be unreasonably withheld), legal proceedings
                        to enforce Transferred Receivables or to commence or
                        participate in any other legal proceedings (including
                        bankruptcy proceedings) relating to or involving
                        Transferred Receivables, Obligors or Financed Vehicles.
                        If the Servicer commences or participates in such legal
                        proceedings in its own name, the Borrower shall
                        thereupon be deemed to have automatically

                                     - 31 -
<PAGE>   37

                        assigned such Transferred Receivables to the Servicer
                        solely for purposes of commencing or participating in
                        any such proceedings as a party or claimant, and the
                        Servicer is authorized and empowered by the Borrower and
                        the Collateral Agent to execute and deliver in the
                        Servicer's name any notices, demands, claims,
                        complaints, responses, affidavits or other documents or
                        instruments in connection with any such proceedings. The
                        Collateral Agent (on behalf of the Secured Parties) and
                        the Borrower shall furnish the Servicer with any powers
                        of attorney and other documents that the Servicer may
                        reasonably request and that the Servicer deems necessary
                        or appropriate and take any other steps that the
                        Servicer may deem reasonably necessary or appropriate to
                        enable the Servicer to carry out its servicing and
                        administrative duties under this Agreement.

                b.      Collection of Receivable Payments; Modifications of
                        Receivables; Lockbox.

                        i.      Consistent with the standards, policies and
                                procedures required by this Agreement, the
                                Servicer shall make reasonable efforts to
                                collect all payments called for under the terms
                                and provisions of the Transferred Receivables as
                                and when the same shall become due, and shall
                                follow such collection procedures as it follows
                                with respect to comparable motor vehicle
                                receivables that it services for itself or
                                others and otherwise act with respect to the
                                Transferred Receivables, the Dealer Agreements,
                                the Dealer Assignments, the Insurance Policies
                                and the other Borrower Collateral in such manner
                                as will, in the reasonable judgment of the
                                Servicer, maximize the amount to be received by
                                the Borrower and the Collateral Agent with
                                respect thereto. The Servicer is authorized in
                                its discretion to waive any prepayment charge,
                                late payment charge or any other similar fees
                                that may be collected in the ordinary course of
                                servicing any Transferred Receivable.

                        ii.     The Servicer may not at any time agree to a
                                modification or amendment of a Transferred
                                Receivable without the consent of the Agent
                                (which consent shall not be unreasonably
                                withheld) unless such modification or amendment
                                shall (i) change the Obligor's regular due date
                                to another date within fifteen calendar days of
                                such due date, or (ii) re-amortize the Scheduled
                                Payments on the Transferred Receivable following
                                a partial prepayment of principal, or (iii) add
                                an additional Obligor to the Transferred
                                Receivable.

                        iii.    The Servicer may grant payment extensions on, or
                                other modifications or amendments to, a
                                Transferred Receivable (in addition to those
                                modifications permitted by Section 3.2(b)) in
                                accordance with its customary procedures if the
                                Servicer believes in good faith that such
                                extension, modification or amendment is
                                necessary to avoid a default on such Transferred
                                Receivable, will maximize the amount to be
                                received by the Borrower and the

                                     - 32 -
<PAGE>   38

                                Collateral Agent with respect to such
                                Transferred Receivable and is otherwise in the
                                best interests of the Investors and the Secured
                                Parties; provided, however, that, with respect
                                to any Transferred Receivable, the Servicer
                                shall not grant more than one extension per
                                year, shall not grant extensions for a
                                cumulative total of more than six months during
                                the life of the Transferred Receivable, and such
                                extension shall not extend beyond the Final
                                Scheduled Payment Date; and provided, further,
                                that the Servicer shall not grant modifications
                                that lower the interest rate on the Transferred
                                Receivables for more than 5% of the Aggregate
                                Outstanding Principal Balance of the Transferred
                                Receivables as of any date.

                        iv.     Drive has entered into the Intercreditor
                                Agreement. The bank account established pursuant
                                to the Intercreditor Agreement (the "Master
                                Collection Account") shall be maintained at the
                                "Master Collection Account Agent", as set forth
                                therein. The Servicer shall direct funds in the
                                Master Collection Account relating to the
                                Transferred Receivables to be transferred on a
                                daily basis to the Collection Account. All
                                payments made by or on behalf of Obligors or
                                received by the Servicer with respect to the
                                Transferred Receivables and all Liquidation
                                Proceeds received by the Servicer with respect
                                to the Transferred Receivables shall be sent to
                                the Master Collection Account within one
                                Business Day after receipt. The Servicer shall
                                transfer such payments, and any payments made by
                                Obligors directly to the Master Collection
                                Account, to the Collection Account within two
                                Business Days after such funds are deposited
                                into the Master Collection Account; provided,
                                however, that if the Servicer is not able to
                                transfer any such payment within two Business
                                Days because the Obligor or Transferred
                                Receivable to which such payment relates is not
                                readily identifiable, the Servicer shall use its
                                best efforts to identify the related Obligor or
                                Transferred Receivable as soon as practicable
                                and shall transfer such payment within one
                                Business Day after identifying such related
                                Obligor or Transferred Receivable.

                        v.      Notwithstanding any third-party processing
                                arrangement, or any of the provisions of this
                                Agreement relating to any third-party processing
                                arrangement, the Servicer shall remain obligated
                                and liable to the Borrower and the Investors for
                                servicing and administering the Transferred
                                Receivables and the other Borrower Collateral in
                                accordance with the provisions of this Agreement
                                without diminution of such obligation or
                                liability by virtue thereof.

                        vi.     Within 60 days after the Closing Date, the
                                Servicer will cause the Intercreditor Agreement
                                to be amended and restated in a manner in form
                                and substance satisfactory to the Agent.

                c.      Realization Upon Receivables.

                                     - 33 -
<PAGE>   39

                        i.      Consistent with the standards, policies and
                                procedures required by this Agreement, the
                                Servicer shall use its best efforts to repossess
                                (or otherwise comparably convert the ownership
                                of) and liquidate any Financed Vehicle securing
                                a Transferred Receivable with respect to which
                                the Servicer has determined that payments
                                thereunder are not likely to be resumed, as soon
                                as practicable after default on such Transferred
                                Receivable but in no event later than the date
                                on which at least 50% of a Scheduled Payment has
                                become 90 days delinquent; provided, however,
                                that the Servicer may elect not to repossess a
                                Financed Vehicle within such time period if in
                                its good faith judgment it determines that the
                                proceeds ultimately recoverable with respect to
                                such Transferred Receivable would be increased
                                by forbearance; and provided, further, that the
                                Servicer shall not be required to repossess a
                                Financed Vehicle if prohibited by law. The
                                Servicer is authorized to follow such customary
                                practices and procedures as it shall deem
                                necessary or advisable, consistent with the
                                standard of care required by Section 8.1, which
                                practices and procedures may include reasonable
                                efforts to realize upon any recourse to Dealers,
                                the sale of the related Financed Vehicle at
                                public or private sale, the submission of claims
                                under an Insurance Policy and other actions by
                                the Servicer in order to realize upon a
                                Transferred Receivable. The foregoing is subject
                                to the provision that, in any case in which the
                                Financed Vehicle shall have suffered damage, the
                                Servicer shall not expend funds in connection
                                with any repair or towards the repossession of
                                such Financed Vehicle unless it shall determine
                                in its discretion that such repair or
                                repossession shall increase the proceeds of
                                liquidation of the related Transferred
                                Receivable by an amount greater than the amount
                                of such expenses. The Servicer shall be entitled
                                to recover all reasonable expenses incurred by
                                it in the course of repossessing and liquidating
                                a Financed Vehicle into cash proceeds. All
                                amounts received upon liquidation of a Financed
                                Vehicle (less reasonable expenses as described
                                in the preceding sentence) shall be remitted
                                directly by the Servicer as provided in Section
                                8.2(d).

                        ii.     If the Servicer elects to commence a legal
                                proceeding to enforce a Dealer Agreement or
                                Dealer Assignment, the act of commencement shall
                                be deemed to be an automatic assignment from the
                                Borrower and the Collateral Agent (on behalf of
                                the Secured Parties) to the Servicer of the
                                rights under such agreements for purposes of
                                collection only. If, however, in any enforcement
                                suit or legal proceeding it is held that the
                                Servicer may not enforce any such agreement on
                                the grounds that it is not a real party in
                                interest or a Person entitled to enforce such
                                agreement, the Borrower or the Collateral Agent,
                                at the Servicer's expense, or the Seller, at the
                                Seller's expense, shall take such steps as the
                                Servicer deems reasonably necessary to enforce
                                such agreement,

                                     - 34 -
<PAGE>   40

                                including bringing suit in its name or the name
                                of the Seller, the Borrower or the Collateral
                                Agent for the benefit of the Secured Parties.
                                All amounts recovered shall be remitted directly
                                by the Servicer as provided in Section 8.2(d).

                d.      Insurance. The Servicer may sue to enforce or collect
                        upon the Insurance Policies in its own name or as agent
                        of the Borrower and the Collateral Agent (on behalf of
                        the Secured Parties). If the Servicer elects to commence
                        a legal proceeding to enforce an Insurance Policy, the
                        act of commencement shall be deemed to be an automatic
                        assignment of the rights of the Borrower and the
                        Collateral Agent (on behalf of the Secured Parties)
                        under such Insurance Policy to the Servicer for purposes
                        of collection only. If, however, in any enforcement suit
                        or legal proceeding it is held that the Servicer may not
                        enforce an Insurance Policy on the grounds that it is
                        not a real party in interest or a holder entitled to
                        enforce the Insurance Policy, the Borrower or the
                        Collateral Agent, at the Servicer's expense, or the
                        Seller, at the Seller's expense, shall take such steps
                        as the Servicer deems reasonably necessary to enforce
                        such Insurance Policy, including bringing suit in its
                        name or the name of the Borrower and the Collateral
                        Agent for the benefit of the Secured Parties.

                e.      Maintenance of Security Interests in Vehicles. (a)
                        Consistent with the policies and procedures required by
                        this Agreement, the Servicer shall take such steps on
                        behalf of the Borrower as are necessary to maintain
                        perfection of the first priority security interest
                        created by each Transferred Receivable in the related
                        Financed Vehicle, including the recording, registering,
                        filing, re-recording, re-filing and re-registering of
                        all security agreements, financing statements and
                        continuation statements as are necessary to maintain the
                        security interest under the respective Transferred
                        Receivables. The Borrower and the Collateral Agent (on
                        behalf of the Secured Parties) each hereby authorize the
                        Servicer, and the Servicer agrees, to take any and all
                        steps necessary to re-perfect such security interest in
                        the name of Borrower or the Collateral Agent (on behalf
                        of the Secured Parties) as necessary because of the
                        relocation of a Financed Vehicle or for any other
                        reason. If the assignment of a Transferred Receivable to
                        the Borrower and the pledge of such Transferred
                        Receivables to the Collateral Agent (on behalf of the
                        Secured Parties) are insufficient without a notation on
                        the related Financed Vehicle's certificate of title or
                        without fulfilling any additional administrative
                        requirements under the laws of the state in which the
                        Financed Vehicle is located, to perfect a security
                        interest in the related Financed Vehicle in favor of the
                        Collateral Agent (on behalf of the Secured Parties), the
                        Servicer and Drive each hereby agrees that Drive's
                        designation as the secured party on the certificate of
                        title is in its capacity as agent of the Collateral
                        Agent (on behalf of the Secured Parties), solely for
                        purposes of providing perfection of the security
                        interest therein.

                                     - 35 -
<PAGE>   41

        (b)     Upon the occurrence of a Facility Termination Event pursuant to
Section 14.1, the Agent may instruct the Collateral Agent and the Servicer to
take or cause to be taken such action as may, in the opinion of the Agent, be
necessary to perfect or re-perfect the security interests in the Financed
Vehicles securing the Transferred Receivables in the name of the Collateral
Agent (on behalf of the Secured Parties) by amending the title documents of such
Financed Vehicles or by such other reasonable means as may, in the opinion of
the Agent, be necessary or prudent. Drive hereby agrees to pay all expenses
related to such perfection or re-perfection and to take all action necessary
therefor. Each of Drive and the Borrower hereby appoints the Collateral Agent as
its attorney-in-fact to take any and all steps required to be performed by Drive
or the Borrower, as applicable, pursuant to this Section 8.5(b), including
execution of certificates of title or any other documents in the name and stead
of Drive or the Borrower, as applicable, and the Collateral Agent hereby accepts
such appointment. Notwithstanding the foregoing, although the Collateral Agent
shall be required to execute documentation relating to the foregoing, the
Collateral Agent shall not be required to prepare any such documentation.

                f.      Covenants, Representations and Warranties of Servicer.
                        By its execution and delivery of this Agreement, the
                        Servicer makes the following representations, warranties
                        and covenants. Unless otherwise specified, such
                        representations and warranties speak as of the Initial
                        Advance Date with respect to the Initial Receivables and
                        as of the related Subsequent Purchase Date with respect
                        to the Subsequent Receivables acquired by the Borrower
                        on such Subsequent Purchase Date, but shall survive the
                        sale, transfer and assignment of the Transferred
                        Receivables to the Borrower.

                        i.      The Servicer covenants as follows:

                                (1)     Liens in Force. The Financed Vehicle
                                        securing each Transferred Receivable
                                        shall not be released in whole or in
                                        part from the security interest granted
                                        by the Transferred Receivable, except
                                        upon payment in full of the Transferred
                                        Receivable or as otherwise contemplated
                                        herein;

                                (2)     No Impairment. The Servicer shall do
                                        nothing to impair the rights of the
                                        Borrower, the Collateral Agent or the
                                        Secured Parties in the Transferred
                                        Receivables or the other Borrower
                                        Collateral. The Servicer shall take such
                                        action as is necessary (including the
                                        filing of appropriate UCC financing
                                        statements and continuation statements)
                                        to preserve the rights of the Borrower,
                                        the Collateral Agent and the Secured
                                        Parties in the Transferred Receivables
                                        and the other Borrower Collateral;

                                (3)     No Amendments. The Servicer shall not
                                        extend or otherwise amend the terms of
                                        any Transferred Receivable, except in
                                        accordance with Section 8.2;

                                     - 36 -
<PAGE>   42

                                (4)     Restrictions on Liens. The Servicer
                                        shall not (A) create, incur or suffer to
                                        exist, or agree to create, incur or
                                        suffer to exist, or consent to cause or
                                        permit in the future (upon the happening
                                        of a contingency or otherwise) the
                                        creation, incurrence or existence of any
                                        Lien on, or restriction on
                                        transferability of, the Transferred
                                        Receivables, except for Permitted Liens
                                        or (B) sign or file under the UCC of any
                                        jurisdiction any financing statement
                                        that names the Servicer as debtor, or
                                        sign any security agreement authorizing
                                        any secured party thereunder to file
                                        such financing statement, with respect
                                        to the Transferred Receivables, except
                                        in each case any such instrument solely
                                        securing the rights and preserving the
                                        Lien of the Collateral Agent for the
                                        benefit of the Secured Parties or as
                                        otherwise permitted under this Agreement
                                        or the Transaction Documents;

                                (5)     Servicing of Receivables. The Servicer
                                        shall service the Transferred
                                        Receivables as described in this
                                        Agreement until such time as it has been
                                        replaced by a successor Servicer. The
                                        Servicer shall service the Transferred
                                        Receivables as required by the terms of
                                        this Agreement and in material
                                        compliance with the current Servicing
                                        Procedures Manual for servicing all its
                                        other comparable motor vehicle
                                        receivables and the Servicer shall not
                                        change the Servicing Procedures Manual
                                        or the manner in which it services the
                                        Receivables in any way that can have a
                                        material adverse effect on the
                                        Transferred Receivables or the Secured
                                        Parties without the consent of the Agent
                                        (which shall not be unreasonably
                                        withheld or delayed);

                                (6)     Notice of Relocation. The Servicer shall
                                        give the Agent at least 30 days prior
                                        written notice of any relocation of its
                                        principal executive office if, as a
                                        result of such relocation, the
                                        applicable provisions of the UCC would
                                        require the filing of any amendment of
                                        any previously filed financing or
                                        continuation statement or of any new
                                        financing statement. The Servicer shall
                                        at all times maintain each office from
                                        which it services the Collateral and its
                                        principal executive office within the
                                        United States of America;

                                (7)     Maintenance of Computer Systems, etc.
                                        The Servicer shall maintain its computer
                                        systems so that,

                                     - 37 -
<PAGE>   43

                                        from and after the time of the Initial
                                        Advance Date, the Servicer's master
                                        computer records (including archives)
                                        that shall refer to the Borrower
                                        Collateral indicate clearly that such
                                        Borrower Collateral is subject to first
                                        priority security interest in favor of
                                        the Collateral Agent for the benefit of
                                        the Secured Parties. Indication of the
                                        Collateral Agent's security interest
                                        shall be deleted from or modified on the
                                        Servicer's computer systems when, and
                                        only when, the Borrower Collateral in
                                        question shall have been paid in full or
                                        sold by the Borrower and the lien of the
                                        Collateral Agent is released in
                                        accordance herewith and the Security
                                        Agreement; and

                                (8)     Other Sales, Grants or Transfers. If at
                                        any time the Servicer shall propose to
                                        sell, grant a security interest in, or
                                        otherwise transfer any interest in motor
                                        vehicle receivables to any prospective
                                        purchaser, lender or other transferee,
                                        the Servicer shall give to such
                                        prospective purchaser, lender or other
                                        transferee computer tapes, records or
                                        printouts (including any restored from
                                        archives) that, if they shall refer in
                                        any manner whatsoever to any Borrower
                                        Collateral, shall indicate clearly that
                                        such Borrower Collateral is subject to a
                                        first priority security interest in
                                        favor of the Collateral Agent for the
                                        benefit of the Secured Parties.

                ii.     The Servicer represents, warrants and covenants as of
                        the Closing Date and as of the date of each Advance as
                        to itself:

                                (1)     Organization and Good Standing. It has
                                        been duly organized and is validly
                                        existing as a limited partnership in
                                        good standing under the laws of its
                                        jurisdiction of organization, with power
                                        and authority to own its properties and
                                        to conduct its business as such
                                        properties are currently owned and such
                                        business is currently conducted;

                                (2)     Due Qualification. It is duly qualified
                                        to do business as a foreign partnership
                                        in good standing and has obtained all
                                        necessary licenses and approvals in all
                                        jurisdictions where the failure to do so
                                        would have a material adverse effect on
                                        its ability to perform its obligations
                                        under its Transaction Documents and its
                                        ability to enforce the

                                     - 38 -
<PAGE>   44

                                        Transferred Receivables and the other
                                        Borrower Collateral;

                                (3)     Power and Authority. It has the power
                                        and authority to execute and deliver
                                        this Agreement and the Transaction
                                        Documents to which it is a party (in any
                                        capacity) and to carry out its terms and
                                        their terms, and, in the case of the
                                        Seller, to sell the Receivables to the
                                        Borrower; and the execution, delivery
                                        and performance of this Agreement and
                                        the Transaction Documents to which it is
                                        a party (in any capacity) have been duly
                                        authorized by the Servicer by all
                                        necessary partnership and corporate
                                        action;

                                (4)     Binding Obligation. This Agreement and
                                        the Transaction Documents to which it is
                                        a party (in any capacity), when duly
                                        executed and delivered, shall constitute
                                        its legal, valid and binding obligations
                                        enforceable in accordance with their
                                        respective 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;

                                (5)     No Violation. The execution, delivery
                                        and performance of this Agreement and
                                        the Transaction Documents to which it is
                                        a party (in any capacity), the
                                        consummation of the transactions
                                        contemplated thereby and the fulfillment
                                        of the terms thereof do not (A) conflict
                                        with, result in any breach of any of the
                                        terms and provisions of, or constitute
                                        (with or without notice or lapse of
                                        time) a default under, its partnership
                                        agreement, or any indenture, agreement,
                                        mortgage, deed of trust or other
                                        instrument to which it is a party or by
                                        which it or its properties are bound,
                                        (B) 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, or (c) to the
                                        best of its knowledge, violate any law,
                                        order, rule or regulation applicable to
                                        it of any Official Body having
                                        jurisdiction over it or any of its
                                        properties;

                                (6)     No Proceedings. There are no proceedings
                                        or investigations pending or, to the
                                        best of its

                                     - 39 -
<PAGE>   45

                                        knowledge, threatened against it, before
                                        any Official Body having jurisdiction
                                        over it or its properties (A) asserting
                                        the invalidity of any of the Transaction
                                        Documents, (B) seeking to prevent the
                                        issuance of the Notes or the
                                        consummation of any of the transactions
                                        contemplated by the Transaction
                                        Documents, (C) seeking any determination
                                        or ruling that would have a material
                                        adverse effect on the performance by it
                                        of its obligations under, or the
                                        validity or enforceability of, any of
                                        the Transaction Documents or (D) seeking
                                        to materially and adversely affect the
                                        federal income tax or other federal,
                                        state or local tax attributes of the
                                        Notes or seeking to impose any excise,
                                        franchise, transfer or similar tax upon
                                        the Notes or the sale and assignment of
                                        the Transferred Receivables hereunder;

                                (7)     No Consents. No consent, license,
                                        approval, authorization or order of, or
                                        registration, declaration or filing
                                        with, any Official Body or other Person
                                        is required to be made in connection
                                        with the execution, delivery or
                                        performance of this Agreement and the
                                        Transaction Documents to which it is a
                                        party (in any capacity) or the
                                        consummation of the transactions
                                        contemplated thereby, except such as
                                        have been duly made, effected or
                                        obtained;

                                (8)     Year 2000 Compliance. In letters
                                        delivered to Drive, the vendors of
                                        Drive's critical computer applications
                                        software have certified that such
                                        applications are Year 2000 Compliant to
                                        the extent set forth in such letters.
                                        Drive has assessed the potential impact
                                        of the possibility that other Persons
                                        with whom it has relationships will not
                                        be Year 2000 Compliant and, subject to
                                        Drive's ongoing review of vendors' Year
                                        2000 Compliance, Drive is not aware of
                                        any Year 2000 Compliance issues that
                                        would have a material adverse effect on
                                        its financial position, cash flows or
                                        results from operations;

                                (9)     ERISA. Each benefit plan, if any, of
                                        Drive that is a "defined benefit" plan
                                        as defined in Section 3(35) of ERISA is
                                        in compliance in all material respects
                                        with ERISA and there is no Lien of the
                                        Pension Benefit Guaranty Corporation on
                                        any of the Transferred Receivables or
                                        other Property;

                                     - 40 -
<PAGE>   46

                                (10)    Investment Company Status. It is not an
                                        "investment company" within the meaning
                                        of the Investment Company Act of 1940,
                                        as amended, or is exempt from all
                                        provisions of such Act;

                                (11)    Chief Executive Office. Its chief
                                        executive office is located at 8585
                                        North Stemmons Freeway, Suite 1100-N,
                                        Dallas, TX 75247;

                                (12)    Eligibility. Each Receivable set forth
                                        in a Schedule of Receivables or Schedule
                                        of Subsequent Receivables is, on its
                                        Purchase Date, an Eligible Receivable,
                                        and the representations and warranties
                                        with respect thereto set forth on
                                        Exhibit C are true and correct on such
                                        date; and

                                (13)    Other Documents. The representations and
                                        warranties made by it (in any capacity)
                                        in each of the other Transaction
                                        Documents to which it is a party are
                                        true and correct in all material
                                        respects as of the date(s) made.

                iii.    The Servicer covenants and agrees:

                                (1)     Agent Indemnification. The Servicer
                                        shall defend, indemnify and hold the
                                        Collateral Agent, the Custodian, the
                                        Borrower, the Lenders and the Agent and
                                        any officers, directors, employees or
                                        agents of the Collateral Agent, the
                                        Custodian, the Lenders and the Agent
                                        harmless against any and all claims,
                                        losses, penalties, fines, forfeitures,
                                        legal fees and related costs, judgments
                                        and any other costs, fees and expenses
                                        that the Collateral Agent, the
                                        Custodian, the Lenders and the Agent may
                                        sustain in connection with claims
                                        asserted at any time by third parties
                                        against the Collateral Agent, the
                                        Custodian, the Borrower, the Lenders or
                                        the Agent that result from (A) any
                                        willful or negligent act taken or
                                        omission by the Servicer or (B) a
                                        material breach of any representations
                                        or covenants of the Servicer or, if
                                        Drive is the Servicer, the Seller, in
                                        this Section 8.6; and

                                (2)     The Servicer shall make arrangements for
                                        the prompt and safe transfer of, and the
                                        Servicer shall provide to the Collateral
                                        Agent, if requested, all necessary
                                        servicing files and records, including
                                        (as deemed necessary by the Collateral
                                        Agent at such

                                     - 41 -
<PAGE>   47

                                        time): (A) account documentation, (B)
                                        servicing system tapes (in a format
                                        acceptable to the Collateral Agent), (C)
                                        account payment history, (D) collections
                                        history and (E) the trial balances, in
                                        each case reflecting all applicable loan
                                        information, as of the following dates:
                                        (1) the close of business on the day
                                        immediately preceding conversion to a
                                        successor Servicer, (2) on an annual
                                        basis commencing March 1, 2001, and (3)
                                        following a Facility Termination Event
                                        under section 14.1, monthly.

                g.      Purchase of Receivables Upon Breach of Covenant. Upon
                        discovery by the Servicer, the Custodian or the Agent of
                        (a) a breach of any of the covenants, representations or
                        warranties set forth in Sections 8.5 or 8.6(a) or (b)
                        that has a material adverse effect on the interests of
                        any Secured Party in any Transferred Receivable, or (b)
                        a failure to obtain a Lien Certificate within 180 days
                        as described in Section 8.16, the party discovering such
                        breach shall give prompt written notice to the others
                        and the Collateral Agent; provided, however, that the
                        failure to give any such notice shall not affect any
                        obligation of the Servicer under this Section 8.7. As of
                        the second Accounting Date (or, at the Servicer's
                        election, the first Accounting Date) following its
                        discovery or receipt of notice of any such breach, the
                        Servicer shall, unless such breach shall have been cured
                        in all material respects, purchase from the Borrower the
                        Transferred Receivables affected by such breach and, on
                        or before the Determination Date following such
                        Accounting Date, the Servicer shall pay the related
                        Purchase Amount to the Collateral Agent pursuant to
                        Section 9.4. The obligation of the Servicer to purchase
                        any Transferred Receivable with respect to which such a
                        breach has occurred and is continuing shall, if such
                        obligation is fulfilled, constitute the sole remedy
                        against the Servicer for such breach available to the
                        Borrower, the Investors, the Agent or the Collateral
                        Agent on behalf of the Secured Parties. The Agent shall
                        not be under any duty or obligation to investigate the
                        occurrence of a breach of a covenant in accordance with
                        this Section 8.7.

                h.      Total Servicing Fee; Payment of Certain Expenses by
                        Servicer. On each Distribution Date, the Servicer shall
                        be entitled to receive out of the Collection Account the
                        Total Servicing Fee for the related Collection Period
                        pursuant to Section 8 of the Security Agreement. The
                        Servicer shall be required to pay all expenses incurred
                        by it in connection with its activities under this
                        Agreement, including taxes imposed on the Servicer,
                        costs and expenses of independent accountants, expenses
                        incurred in connection with distributions and reports
                        made by the Servicer to the Agent or the Investors.

                i.      Servicer's Certificate. No later than 2:00 p.m., New
                        York City time, on each Determination Date, the Servicer
                        shall deliver to the Agent, the

                                     - 42 -
<PAGE>   48

                        Collateral Agent, and the Custodian, a Servicer's
                        Certificate executed by a Responsible Officer of the
                        Servicer containing, among other things, (i) all
                        information necessary to enable the Collateral Agent to
                        make any withdrawal required by Section 11 of the
                        Security Agreement, to give any notice required by
                        Section 11 of the Security Agreement and to make the
                        distributions required by Section 8 of the Security
                        Agreement, (ii) a listing of all Transferred Receivables
                        purchased as of the related Determination Date with
                        respect to the related Collection Period, and (iii) all
                        information necessary to enable the Agent to reconcile
                        all deposits to, and withdrawals from, the Collection
                        Account for the related Collection Period and
                        Distribution Date, including the accounting required by
                        Section 9 of the Security Agreement. Transferred
                        Receivables purchased by the Servicer or repurchased by
                        Drive on or before the related Determination Date and
                        each Transferred Receivable that became a Liquidated
                        Receivable or that was paid in full during the related
                        Collection Period shall be identified by account number
                        (as set forth in the Schedule of Receivables). In
                        addition to the information set forth in the preceding
                        sentence, the Servicer's Certificate shall also contain
                        the following information: (a) whether any Facility
                        Termination Event has occurred as of such Determination
                        Date; and (b) the Borrowing Base and Required Holdback
                        for such Determination Date. The parties hereto
                        acknowledge that the basis for calculating Interest on
                        the Advances may change between the date the Servicer
                        delivers a Servicer's Certificate and the related
                        Distribution Date and that the amount the Servicer sets
                        forth in a Servicer's Certificate as Interest accrued on
                        the Advances as of the related Distribution Date is its
                        good faith estimate of such Interest; in the event of
                        any change in calculating Interest during such period of
                        time, the parties agree to use reasonable efforts to
                        revise the Servicer's Certificate on or prior to such
                        Distribution Date to reflect such changes, provided that
                        if such revisions are not made by such time, then
                        appropriate corrections shall be made on the next
                        Distribution Date.

                j.      Annual Statement as to Compliance; Notice of Servicer
                        Termination Event.

                        i.      The Servicer shall deliver to the Agent, the
                                Collateral Agent, and the Custodian, on or
                                before June 30 of each year, beginning on June
                                30, 2001, an officer's certificate signed by any
                                Responsible Officer of the Servicer, dated as of
                                the preceding February 28 (or other applicable
                                date), stating that (i) a review of the
                                activities of the Servicer during the preceding
                                12- month period (or such other period as shall
                                have elapsed from the Closing Date to the date
                                of the first such certificate) and of its
                                performance under this Agreement has been made
                                under such officer's supervision, and (ii) to
                                such officer's knowledge, based on such review,
                                the Servicer has fulfilled all its obligations
                                under this Agreement throughout such period, or,
                                if there has been a default in the fulfillment
                                of any

                                     - 43 -
<PAGE>   49

                                such obligation, specifying each such default
                                known to such officer and the nature and status
                                thereof.

                        ii.     The Servicer shall deliver to the Agent, the
                                Collateral Agent, and the Custodian, promptly
                                after having obtained knowledge thereof, but in
                                no event later than two Business Days
                                thereafter, written notice in an Officers'
                                Certificate of any event that, with the giving
                                of notice or lapse of time, would become a
                                Servicer Termination Event under Section 13.1 or
                                a Facility Termination Event under Section 14.1.

                k.      Annual Independent Accountants' Report. The Servicer
                        shall cause KPMG or another firm of nationally
                        recognized independent certified public accountants
                        reasonably acceptable to the Agent (the "Independent
                        Accountants"), who may also render other services to the
                        Servicer, to deliver to the Servicer, on or before June
                        30 of each year, beginning on June 30, 2001, with
                        respect to the twelve months ended the immediately
                        preceding February 28 (or such other period as shall
                        have elapsed from the Closing Date to the date of such
                        certificate), a statement (the "Accountants' Report")
                        addressed to the Servicer, to the effect that such firm
                        has audited the books and records of the Servicer and
                        issued its report thereon and that: (1) such audit was
                        made in accordance with generally accepted auditing
                        standards, and accordingly included such tests of the
                        accounting records and such other auditing procedures as
                        such firm considered necessary in the circumstances; and
                        (2) the firm is independent of the Servicer within the
                        meaning of the Code of Professional Ethics of the
                        American Institute of Certified Public Accountants. The
                        Servicer shall also cause the Independent Accountants to
                        deliver to the Servicer on such dates a letter to the
                        effect that certain agreed upon procedures were
                        performed relating to three randomly selected Servicer's
                        Certificates, and, except as disclosed in such report,
                        no errors or exceptions were found in the Servicer's
                        Certificate(s) based on the performance of such agreed
                        upon procedures. The Servicer shall deliver a copy of
                        the Accountants' Report, within 15 days of receipt, to
                        the Borrower, the Collateral Agent, the Custodian, and
                        the Agent.

        If such firm requires the Collateral Agent to agree to the procedures
performed by such firm, the Servicer shall direct the Collateral Agent in
writing to so agree; it being understood and agreed that the Collateral Agent
will deliver such letter of agreement in conclusive reliance upon the direction
of the Servicer, and the Collateral Agent shall not make any independent inquiry
or investigation as to, and shall have no obligation or liability in respect of,
the sufficiency, validity or correctness of such procedures. Delivery of such
reports, information and documents to the Agent and the Collateral Agent is for
informational purposes only, and the Agent's and the Collateral Agent's receipt
of such shall not constitute constructive notice of any information contained
therein or determinable from information contained therein, including the
Servicer's compliance with any of its covenants hereunder.

                                     - 44 -
<PAGE>   50

                l.      Access to Certain Documentation and Information
                        Regarding Receivables. The Servicer shall provide to
                        representatives of the Agent, the Collateral Agent and
                        the Custodian reasonable access to the documentation
                        regarding the Transferred Receivables. In each case,
                        such access shall be afforded without charge but only
                        upon reasonable request and during normal business
                        hours. Nothing in this Section 8.12 shall derogate from
                        the obligation of the Servicer to observe any applicable
                        law prohibiting disclosure of information regarding the
                        Obligors, and the failure of the Servicer to provide
                        access as a result of such obligation shall not
                        constitute a breach of this Section 8.12.

                m.      Monthly Tape. If requested by the Collateral Agent, on
                        or before each Determination Date, the Servicer shall
                        deliver to the Collateral Agent a computer tape or a
                        diskette or any other electronic transmission in a
                        format acceptable to the Collateral Agent containing the
                        information with respect to the Transferred Receivables
                        as of the preceding Accounting Date necessary for
                        preparation of the Servicer's Certificate relating to
                        the next Determination Date.

                n.      Insurance. The Servicer shall maintain customary amounts
                        of insurance coverage, including errors and omissions
                        liability, fidelity bond, commercial general liability,
                        property, directors and officers liability and workers'
                        compensation coverage. The Servicer shall be entitled to
                        self-insure with respect to such insurance so long as
                        the long-term unsecured debt obligations of the Servicer
                        are rated in the second highest long-term debt category
                        by each Rating Agency.

                o.      Compliance with Laws. The Servicer shall comply with the
                        requirements of all applicable laws (including any
                        federal or state laws regulating the collection or
                        enforcement of consumer debts and/or the foreclosure
                        upon, and repossession of, vehicles) in the discharge of
                        its duties and obligations hereunder.

                p.      Collecting Lien Certificate. The Servicer shall use its
                        best efforts to collect each Lien Certificate from the
                        applicable Registrar of Titles as promptly as
                        practicable and, pending receipt of each Lien
                        Certificate from such Registrar of Titles, shall supply
                        written evidence that each such Lien Certificate has
                        been applied for. If a copy of a Lien Certificate with
                        respect to a Receivable showing Drive as first
                        lienholder is not received by the Custodian within [180]
                        days after the applicable Purchase Date, the Servicer
                        shall be obligated to purchase such Receivable under
                        Section 8.7.

                q.      Purchase of All Receivables. As an administrative
                        convenience, the Servicer shall have the option to
                        purchase the Transferred Receivables and the other
                        Property on any Distribution Date if, as of the related
                        Accounting Date, the aggregate outstanding principal
                        amount of Advances has declined to less than 10% of the
                        Aggregate Outstanding Principal

                                     - 45 -
<PAGE>   51

                        Balance on the Initial Advance Date plus the Aggregate
                        Outstanding Principal Balance of all Subsequent
                        Receivables as of their applicable Subsequent Cutoff
                        Dates. To exercise such option, the Servicer shall pay
                        the aggregate Purchase Amounts for the Receivables
                        (which amount shall in no event be less than the
                        aggregate outstanding principal amount of Advances plus
                        accrued and unpaid Interest thereon plus all Interest
                        which would accrue during any uncompleted Interest
                        Period) plus all amounts due to the Agent, the Lenders
                        and other Affected Persons hereunder and shall succeed
                        to all interests in and to the Transferred Receivables
                        and the other Property. Not later than 10 days prior to
                        any proposed exercise of such option, the Servicer shall
                        notify the Collateral Agent and the Agent of any
                        proposed exercise of such option. The purchase price
                        paid by the Servicer shall be deposited into the
                        Collection Account on or before such Distribution Date
                        and distributed pursuant to Section 8 of the Security
                        Agreement.

                r.      Weekly Borrowing Base Confirmation. The Servicer shall
                        deliver a Borrowing Base Confirmation to the Agent on
                        each Weekly Pool Report Date.

                s.      Repurchase upon Breach. The Borrower may require Drive
                        to repurchase a Transferred Receivable pursuant to
                        Section 6.11 of the Receivables Purchase Agreement upon
                        the occurrence and during the continuance of a Drive
                        Repurchase Event (as defined therein). The obligation of
                        Drive to repurchase any Transferred Receivable as to
                        which a Drive Repurchase Event has occurred and is
                        continuing shall, if such obligation is fulfilled,
                        constitute the sole remedy against Drive in connection
                        with such event available to the Borrower, the
                        Investors, the Agent and the Collateral Agent.

13.
       ACCOUNTS; PAYMENTS

                a.      Borrower Accounts.

                        i.      On or prior to the Closing Date, the Servicer
                                shall establish the Collection Account and the
                                Collateral Account each in the name of the
                                Collateral Agent for the benefit of the Secured
                                Parties. The Collection Account and the
                                Collateral Account shall each be an Eligible
                                Account which is a segregated trust account
                                initially established with the Collateral Agent.
                                If at any time the Collection Account or the
                                Collateral Account ceases to be an Eligible
                                Account, the Agent may direct the Collateral
                                Agent to transfer such account to another
                                institution such that such account shall meet
                                the requirements of an Eligible Account.

                        ii.     All amounts held in the Collection Account and
                                the Collateral Account (collectively, the
                                "Borrower Accounts"), shall, to the extent
                                permitted by applicable laws, rules and
                                regulations, be

                                     - 46 -
<PAGE>   52

                                invested by the Collateral Agent, as directed by
                                the Servicer in writing (or, if the Servicer
                                fails to provide such direction, amounts in the
                                Collection Account shall be invested in
                                investments described in clause (f) of the
                                definition of Permitted Investments), in
                                Permitted Investments that mature not later than
                                one Business Day prior to the Distribution Date
                                for the Collection Period to which such amounts
                                relate. All income or other gains from
                                investment of moneys on deposit in any such
                                account shall be deposited by the Collateral
                                Agent in the applicable account immediately upon
                                receipt. The taxpayer identification number
                                associated with each Borrower Account shall be
                                that of the Borrower and the Borrower shall
                                report for Federal, state and local income tax
                                purposes, the income, if any, represented by
                                each Borrower Account. If any amounts are needed
                                for disbursement from the Collection Account or
                                the Collateral Account and sufficient uninvested
                                funds are not available therein to make such
                                disbursement, the Collateral Agent shall cause
                                to be sold or otherwise converted to cash a
                                sufficient amount of the investments in such
                                account to make such disbursement upon the
                                direction of the Servicer or, if the Servicer
                                shall fail to give such direction, the Agent.
                                Any such written direction shall certify that
                                any such investment is authorized by this
                                Section 9.1. Investments in Permitted
                                Investments shall be made in the name of the
                                Collateral Agent on behalf of the Secured
                                Parties, and, except as specifically required
                                above, such investments shall not be sold or
                                disposed of prior to their maturity. Each and
                                every investment of funds in any of the Borrower
                                Accounts shall be made in Permitted Investments
                                held by a financial institution that is a
                                Securities Intermediary:

                                (1)     in an account pursuant to an agreement
                                        with such financial institution that
                                        requires such financial institution to
                                        (A) comply with Entitlement Orders
                                        pertaining to such account originated by
                                        the Collateral Agent without further
                                        consent of the Borrower, (B) not enter
                                        into any agreement which grants
                                        "control" (as defined in Section 8-106
                                        of Article 8) of such account (or any
                                        interest or property therein) to any
                                        Person other than the Collateral Agent,
                                        (C) subordinate any security interest,
                                        banker's lien, right of setoff or other
                                        similar right which such financial
                                        institution may have in such account to
                                        the interest of the Collateral Agent and
                                        (D) expressly treat each item of
                                        property as a Financial Asset and such
                                        account as a Securities Account; and

                                (2)     with respect to which such institution
                                        has noted the Collateral Agent's
                                        interest therein by book entry or

                                     - 47 -
<PAGE>   53

                                        otherwise, and with respect to which a
                                        confirmation of the Collateral Agent's
                                        interest has been sent to the Collateral
                                        Agent by such institution.

Subject to the other provisions hereof, the Collateral Agent shall have sole
control over each such investment and the income thereon, and any certificate or
other instrument evidencing any such investment, if any, shall be delivered
directly to the Collateral Agent or its agent, together with each document of
transfer, if any, necessary to transfer title to such investment to the
Collateral Agent in a manner that complies with this Section 9.1. All interest,
dividends, gains upon sale and other income from, or earnings on, investments of
funds in the Collection Account shall be deposited in the Collection Account and
distributed pursuant to Section 8 of the Security Agreement. All interest,
dividends, gains upon sale and other income from or earnings on, investments of
funds in the Collateral Account shall be deposited in the Collection Account and
distributed pursuant to Section 8 of the Security Agreement. If the Collateral
Agent is given instructions to invest funds in any of the Borrower Accounts in
investments other than investments of the type described in clause (f) of the
definition of "Permitted Investments", the Person giving such instructions
agrees to assist the Collateral Agent in complying with the requirements herein
with respect to such investments.

                iii.    With respect to the Borrower Account Collateral:

                                (1)     any Borrower Account Collateral that is
                                        held in deposit accounts shall be held
                                        solely in the name of the Collateral
                                        Agent in accounts which satisfy clause
                                        (ii) of the definition of Eligible
                                        Account; each such deposit account shall
                                        be subject to the exclusive custody and
                                        control of the Collateral Agent, and the
                                        Collateral Agent shall have sole
                                        signature authority with respect
                                        thereto;

                                (2)     any Borrower Account Collateral that
                                        constitutes Physical Property shall be
                                        delivered to the Collateral Agent in
                                        accordance with paragraph (i) of the
                                        definition of "Delivery" and shall be
                                        held, pending maturity or disposition,
                                        solely by the Collateral Agent;

                                (3)     any Borrower Account Collateral that
                                        constitutes a Certificated Security
                                        shall be delivered to the Collateral
                                        Agent in accordance with paragraph (ii)
                                        of the definition of "Delivery" and
                                        shall be held, pending maturity or
                                        disposition, solely by the Collateral
                                        Agent;

                                (4)     any such Borrower Account Collateral
                                        that constitutes an Uncertificated
                                        Security (including any investments in
                                        money market mutual funds, but excluding
                                        any Federal Book Entry Security), shall

                                     - 48 -
<PAGE>   54

                                        be delivered to the Collateral Agent in
                                        accordance with paragraph (iii) of the
                                        definition of "Delivery" and shall be
                                        maintained, pending maturity or
                                        disposition, through continued
                                        registration of the Collateral Agent's
                                        (or its nominee's) ownership of such
                                        security; and

                                (5)     with respect to any Borrower Account
                                        Collateral that constitutes a Federal
                                        Book Entry Security, the Collateral
                                        Agent shall maintain and obtain Control
                                        over such property.

Effective upon Delivery of any Borrower Account Collateral in the form of
Physical Property, book-entry securities or uncertificated securities, the
Collateral Agent shall be deemed to have represented that it has purchased such
Borrower Account Collateral for value, in good faith and without notice of any
adverse claim thereto.

                iv.     On the Initial Advance Date, the Servicer shall deposit
                        in the Collection Account (i) all Scheduled Payments and
                        prepayments of Initial Receivables with respect to which
                        available funds have been received in the Master
                        Collection Account after the Initial Cutoff Date and
                        (ii) all Liquidation Proceeds and proceeds of Insurance
                        Policies realized in respect of Financed Vehicles
                        related to the Initial Receivables after the Initial
                        Cutoff Date.

                v.      On any day, the Borrower may deposit such amounts as it
                        may elect, in its sole discretion, in the Collateral
                        Account, provided that (i) the amount on deposit in the
                        Collateral Account may not at any time exceed the
                        greater of 5% of the Borrowing Base and $5,000,000 and
                        (ii) the amount on deposit in the Collateral Account
                        must be reduced to zero for a period of five consecutive
                        Business Days during every period of 30 days.

        b.      Servicer Reimbursements. The Servicer shall be entitled to be
                reimbursed from amounts on deposit in, or to be deposited in,
                the Collection Account with respect to a Collection Period for
                amounts previously deposited in the Collection Account but later
                determined by the Servicer to have resulted from mistaken
                deposits or postings or checks returned for insufficient funds.
                The amount to be reimbursed hereunder shall be paid to the
                Servicer on the related Distribution Date pursuant to Section
                8(a)(ii) or 8(b)(ii) of the Security Agreement. Upon the request
                of the Collateral Agent or the Agent, the Servicer shall certify
                any amount to be reimbursed hereunder and shall supply such
                other information as may be necessary in the opinion of the
                Collateral Agent and the Agent to verify the accuracy of such
                certification. The Collateral Agent shall not be under any
                obligation to make the request described in the immediately
                preceding sentence.

                                     - 49 -
<PAGE>   55

                c.      Application of Collections. For purposes of this
                        Agreement, all collections for a Collection Period shall
                        be applied by the Servicer as follows:

                        i.      With respect to each Receivable, payments by or
                                on behalf of the Obligor (other than
                                Supplemental Servicing Fees with respect to such
                                Receivable, to the extent collected) shall be
                                applied to interest and principal thereof to
                                reduce the balance thereof in accordance with
                                the terms of such Receivable.

                        ii.     With respect to each Receivable that has become
                                a Purchased Receivable, the Purchase Amount
                                shall be applied to interest and principal on
                                the Receivable in accordance with Section 9.3(a)
                                as if the Purchase Amount had been paid by the
                                Obligor. Nothing contained herein shall relieve
                                any Obligor of any obligation relating to any
                                Receivable.

                        iii.    All amounts collected that are payable to the
                                Servicer as Supplemental Servicing Fees
                                hereunder shall be deposited in the Collection
                                Account and paid to the Servicer in accordance
                                with Section 8 of the Security Agreement.

                        iv.     All payments by or on behalf of an Obligor
                                received with respect to any Purchased
                                Receivable after the Accounting Date preceding
                                the Determination Date on which the Purchase
                                Amount was paid by the Borrower or the Servicer
                                shall be paid to the Borrower or the Servicer,
                                respectively, and shall not be included in the
                                Amount Available under, and as defined in, the
                                Security Agreement.

                d.      Additional Deposits. On or before each Determination
                        Date, the Servicer or the Borrower shall deposit into
                        the Collection Account the aggregate Purchase Amounts
                        with respect to Purchased Receivables. All such deposits
                        of Purchase Amounts shall be made in immediately
                        available funds. On or before each Distribution Date,
                        the Collateral Agent shall remit to the Collection
                        Account any amounts to be transferred into the
                        Collection Account by the Collateral Agent from the
                        Collateral Account pursuant to Section 11 of the
                        Security Agreement.

14.
        REPRESENTATIONS AND WARRANTIES OF THE BORROWER

        In order to induce the other parties hereto to enter into this Agreement
and, in the case of the Lenders, to make Advances hereunder, the Borrower hereby
represents and warrants to the Agent and the Investors as to itself, as of the
Closing Date and the date of each Advance, as follows:

                a.      Organization and Good Standing. The Borrower has been
                        duly organized and is validly existing as a limited
                        partnership under the laws of the State

                                     - 50 -
<PAGE>   56

                        of Delaware, with power and authority to own its
                        properties and to conduct its business as such
                        properties are currently owned and such business is
                        currently conducted. The Borrower had at all relevant
                        times and now has, power, authority and legal right to
                        acquire and own the Transferred Receivables and the
                        other Property, and to grant to the Collateral Agent a
                        security interest in the Transferred Receivables, the
                        other Property and the other Borrower Collateral and to
                        enter into and perform its obligations under this
                        Agreement and the other Transaction Documents to which
                        it is a party.

                b.      Due Qualification. The Borrower is duly qualified to do
                        business and has obtained all necessary licenses and
                        approvals in all jurisdictions where the failure to do
                        so would have a material adverse effect on (i) the
                        Borrower's ability to perform its obligations under this
                        Agreement, (ii) the validity or enforceability of the
                        Receivables and the other Conveyed Property or (iii) the
                        Borrower's ability to perform its obligations hereunder
                        and under its Transaction Documents.

                c.      Power and Authority The Borrower has the power and
                        authority to execute and deliver this Agreement and the
                        other Transaction Documents to which it is a party and
                        to carry out its terms and their terms, respectively;
                        the Borrower has full power and authority to grant to
                        the Collateral Agent, for the benefit of the Secured
                        Parties, a perfected first priority security interest in
                        the Transferred Receivables and the other Borrower
                        Collateral and has duly authorized such grant by all
                        necessary partnership action; and the execution,
                        delivery and performance of this Agreement and the other
                        Transaction Documents to which it is a party have been
                        duly authorized by the Borrower by all necessary
                        partnership and corporate action.

                d.      Security Interest; Binding Obligations. This Agreement
                        and the Transaction Documents to which it is a party
                        have been duly executed and delivered and shall create a
                        valid first priority security interest (except, as to
                        priority, for any tax liens or mechanics liens that may
                        arise after the applicable Purchase Date) in the
                        Borrower Collateral in favor of the Collateral Agent,
                        for the benefit of the Secured Parties, enforceable
                        against the Borrower and creditors of and purchasers
                        from the Borrower and any Affiliate thereof (including
                        Drive); and this Agreement and the other Transaction
                        Documents to which it is a party shall constitute legal,
                        valid and binding obligations of the Borrower
                        enforceable in accordance with their respective 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.

                e.      No Violation. The consummation of the transactions
                        contemplated by this Agreement and the other Transaction
                        Documents to which it is a party, and

                                     - 51 -
<PAGE>   57

                        the fulfillment of the terms of this Agreement and the
                        other Transaction Documents to which it is a party,
                        shall not conflict with, result in any breach of any of
                        the terms and provisions of, or constitute (with or
                        without notice or lapse of time) a default under, the
                        partnership agreement of the Borrower, or any indenture,
                        agreement, mortgage, deed of trust or other instrument
                        to which the Borrower is a party or by which it is bound
                        or any of its properties are subject, or result in the
                        creation or imposition of any Lien (other than Permitted
                        Liens) 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, to Borrower's knowledge, violate any law, order,
                        rule or regulation applicable to the Borrower of any
                        Official Body having jurisdiction over the Borrower or
                        any of its properties, or in any way materially
                        adversely affect the Borrower's ability to perform its
                        obligations under this Agreement or the other
                        Transaction Documents to which it is a party.

                f.      No Proceedings. There are no proceedings or
                        investigations pending or, to the Borrower's knowledge,
                        threatened against the Borrower, before any court or
                        Official Body having jurisdiction over the Borrower or
                        its properties (A) asserting the invalidity of this
                        Agreement or any of the other Transaction Documents, (B)
                        seeking to prevent the consummation of any of the
                        transactions contemplated by this Agreement or any of
                        the other Transaction Documents, (C) seeking any
                        determination or ruling that might materially and
                        adversely affect the performance by the Borrower of its
                        obligations under, or the validity or enforceability of,
                        this Agreement or any of the other Transaction
                        Documents, (D) that could have a material adverse effect
                        on the Transferred Receivables or other Borrower
                        Collateral or (F) seeking to materially and adversely
                        affect the federal income tax or other federal, state or
                        local tax attributes of the Notes or seeking to impose
                        any excise, franchise, transfer or similar tax upon the
                        Notes or the sale and assignment of the Receivables and
                        the other Borrower Collateral hereunder.

                g.      No Consents. The Borrower is not required to obtain the
                        consent of any other party or any approval,
                        authorization, consent, license, approval or
                        authorization, or registration or declaration with, any
                        Official Body or other Person in connection with the
                        execution, delivery, performance, validity or
                        enforceability of this Agreement or the other
                        Transaction Documents to which it is a party, except
                        such as have been duly made, effected or obtained.

                h.      Chief Executive Office. The chief executive office of
                        the Borrower is located at 8585 North Stemmons Freeway,
                        Suite 1100-N, Dallas, TX 75247.

                i.      Solvency. The Borrower is solvent and will not become
                        insolvent after giving effect to the transactions
                        contemplated by this Agreement and the Transaction
                        Documents. The Borrower has no Indebtedness to any
                        Person

                                     - 52 -
<PAGE>   58

                        other than pursuant to this Agreement and the other
                        Transaction Documents. The Borrower, after giving effect
                        to the transactions contemplated by this Agreement and
                        the other Transaction Documents, will have an adequate
                        amount of capital to conduct its business in the
                        foreseeable future.

                j.      Tax Treatment. For federal income tax purposes, the
                        Borrower will be treated as the owner of each
                        Transferred Receivable and other Property, the Borrower
                        will be treated as the borrower under this Receivables
                        Financing Agreement and the Advances made under this
                        Receivables Financing Agreement will be treated as the
                        indebtedness of the Borrower. For accounting purposes,
                        the Borrower will treat the purchase or absolute
                        assignment of each Transferred Receivable and other
                        Property pursuant to the Receivables Purchase Agreement
                        as a purchase or absolute assignment of Drive's full
                        right, title and ownership interest in such Transferred
                        Receivable and other Property (and those Transferred
                        Receivables and other Property contributed to the
                        Borrower by Drive pursuant to the Receivables Purchase
                        Agreement shall be accounted for as an increase in the
                        stated capital of the Borrower) and the Borrower has not
                        in any other manner accounted for or treated the
                        transfer to it of Transferred Receivables and other
                        Property.

                k.      Compliance With Laws. The Borrower has complied and will
                        comply in all material respects with all applicable
                        laws, rules, regulations, judgments, agreements, decrees
                        and orders with respect to its business and properties
                        and all Borrower Collateral.

                l.      Taxes. The Borrower has filed on a timely basis all tax
                        returns (including, without limitation, foreign,
                        federal, state, local and otherwise) required to be
                        filed, is not liable for taxes payable by any other
                        Person and has paid or made adequate provisions for the
                        payment of all taxes, assessments and other governmental
                        charges due from the Borrower. No tax lien or similar
                        adverse claim has been filed, and no claim is being
                        asserted, with respect to any such tax, assessment or
                        other governmental charge. Any taxes, fees and other
                        governmental charges payable by the Borrower in
                        connection with the execution and delivery of this
                        Agreement and the other Transaction Documents and the
                        transactions contemplated hereby or thereby including
                        the transfer of each Transferred Receivable and other
                        Property to the Borrower have been paid or shall have
                        been paid if and when due at or prior to the Initial
                        Advance Date and the relevant Purchase Date, as the case
                        may be.

                m.      Certificates. Each Servicer's Certificate and Borrowing
                        Base Confirmation is accurate in all material respects
                        as of the date thereof.

                n.      No Liens, Etc. The Borrower Collateral and each part
                        thereof is owned by the Borrower free and clear of any
                        Adverse Claim or restrictions on transferability and the
                        Borrower has the full right, power and lawful

                                     - 53 -
<PAGE>   59

                        authority to assign, transfer and pledge the same and
                        interests therein, and upon the making of each Advance,
                        the Collateral Agent, for the benefit of the Secured
                        Parties, will have acquired a perfected, first priority
                        and valid security interest (except, as to priority, for
                        any tax lien or mechanics lien that may arise after the
                        applicable Purchase Date) in such Borrower Collateral,
                        free and clear of any Adverse Claim or restrictions on
                        transferability. No effective financing statement or
                        other instrument similar in effect covering all or any
                        part of the Borrower Collateral is on file in any
                        recording office, except such as will be released on the
                        Initial Advance Date or a Subsequent Advance Date or as
                        may have been filed in favor of the Collateral Agent as
                        "Secured Party" pursuant to the Security Agreement or,
                        with respect to the Transferred Receivables, in favor of
                        the Borrower pursuant to the Receivables Purchase
                        Agreement.

                o.      Purchase and Sale. Each Transferred Receivable and other
                        Property was purchased by or contributed to the Borrower
                        on the relevant Purchase Date pursuant to the
                        Receivables Purchase Agreement.

                p.      Securities Act of 1933; Investment Company Act of 1940.
                        Each purchase of Transferred Receivables and other
                        Property under the Receivables Purchase Agreement will
                        constitute a purchase or other acquisition of notes,
                        drafts, acceptances, open accounts receivable or other
                        obligations representing part or all of the sales price
                        of merchandise, insurance or services within the meaning
                        of Section 3(c)(5) of the Investment Company Act of
                        1940, as amended.

                q.      Information True and Correct. All information heretofore
                        or hereafter furnished by or on behalf of the Borrower
                        in writing to any Lender, the Agent or the Collateral
                        Agent in connection with this Agreement or any
                        transaction contemplated hereby is and will be true and
                        complete in all material respects and does not and will
                        not omit to state a material fact necessary to make the
                        statements contained therein not misleading.

                r.      ERISA Compliance. The Borrower has no benefit plans
                        subject to ERISA.

                s.      Financial or Other Condition. There has been no material
                        adverse change in the condition (financial or
                        otherwise), business, operations, results of operations,
                        or properties of the Borrower since the Closing Date.

                t.      Investment Company Status. The Borrower is not an
                        "investment company" or an "affiliated person" of, or
                        "promoter" or "principal underwriter" for, an
                        "investment company," as such terms are defined in the
                        Investment Company Act of 1940, as amended.

                u.      Eligible Receivables. All Receivables included in the
                        Borrowing Base as of the most recently delivered
                        Servicer's Certificate or Borrowing Base Confirmation
                        are Eligible Receivables.

                                     - 54 -
<PAGE>   60

                v.      Use of Proceeds. Neither Borrower nor Drive is engaged
                        in the business of extending credit for the purpose of
                        purchasing or carrying margin stock (as defined in
                        Regulation U (12 CFR Part 221) of the Board of Governors
                        of the Federal Reserve System) and none of the proceeds
                        of the Advances will be used, directly or indirectly,
                        for a purpose that violates Regulation T, Regulation U,
                        Regulation X or any other regulation promulgated by the
                        Board of Governors of the Federal Reserve System from
                        time to time.

                w.      Separate Existence. The Borrower is operated as an
                        entity with assets and liabilities distinct from those
                        of Drive and any other Affiliates of the Borrower, and
                        the Borrower hereby acknowledges that the Agent and each
                        of the Lenders are entering into the transactions
                        contemplated by this Agreement in reliance upon the
                        Borrower's identity as a separate legal entity from
                        Drive and each such Affiliate. Since its formation, the
                        Borrower has been (and will be) operated in such a
                        manner as to comply with the covenants set forth in
                        Section 11.5.

               There is not now, nor will there be at any time in the future,
any agreement or understanding between Drive and the Borrower (other than as
expressly set forth herein) providing for the allocation or sharing of
obligations to make payments or otherwise in respect of any taxes, fees,
assessments or other governmental charges.

                x.      Investments. The Borrower does not own or hold, directly
                        or indirectly, any capital stock or equity security of,
                        or any equity interest in, any Person, other than the
                        Permitted Investments in the Borrower Accounts.

                y.      Representation and Warranties True and Correct. Each of
                        the representations and warranties of the Borrower
                        contained in this Agreement and the other Transaction
                        Documents is true and correct in all material respects
                        and the Borrower hereby makes each such representation
                        and warranty to, and for the benefit of, the Agent and
                        the other Secured Parties as if the same were set forth
                        in full herein.

                z.      Transaction Documents. The Receivables Purchase
                        Agreement is the only agreement pursuant to which the
                        Borrower purchases and receives contributions of
                        Receivables, and the Transaction Documents delivered to
                        the Agent represent all material agreements between
                        Drive, on the one hand, and the Borrower, on the other.
                        The Borrower has furnished to the Agent true, correct
                        and complete copies of each Transaction Document to
                        which the Borrower is a party, each of which is in full
                        force and effect. Neither the Borrower nor any Affiliate
                        party thereto is in default of any of its obligations
                        thereunder in any material respect. Upon the purchase
                        and/or contribution of each Receivable pursuant to the
                        Receivables Purchase Agreement, the Borrower shall be
                        the lawful owner of, and have good title to, such
                        Receivable and all assets relating thereto, free and
                        clear of any Liens. All such assets are transferred to
                        the Borrower without recourse to the Seller except as
                        described in the Receivables Purchase Agreement. The
                        purchases of such assets by the Borrower constitute
                        valid

                                     - 55 -
<PAGE>   61
                        and true sales for consideration (and not merely a
                        pledge of such assets for security purposes) and the
                        contributions of such assets received by the Borrower
                        constitute valid and true transfers for consideration,
                        each enforceable against creditors of the Seller, and no
                        such assets shall constitute property of the Seller.

                aa.     Ownership of the Borrower. One hundred percent (100%) of
                        the outstanding partnership interests in the Borrower is
                        and will be directly or indirectly owned by Drive.

15.
        COVENANTS OF THE BORROWER

        From the date hereof until the first day following the Facility
Termination Date, on which all Obligations shall have been finally and fully
paid and performed, the Borrower hereby covenants and agrees with the Investors,
the Collateral Agent, the Custodian and the Agent that it will:

                a.      Protection of Security Interest of the Secured Parties.
                        (a) At or prior to the Initial Advance Date, the
                        Borrower shall have filed or caused to be filed UCC1
                        financing statements, executed by the Borrower as
                        debtor, naming the Collateral Agent (for the benefit of
                        the Secured Parties) as secured party and describing the
                        Borrower Collateral, with the office of the Secretary of
                        State of the State of Texas and in such other locations
                        as the Agent shall have required. From time to time
                        thereafter, the Borrower shall execute and file such
                        financing statements and cause to be executed and filed
                        such continuation statements, all in such manner and in
                        such places as may be required by law fully to preserve,
                        maintain and protect the interest of the Secured Parties
                        under this Agreement and the Security Agreement in the
                        Borrower Collateral and in the proceeds thereof. The
                        Borrower shall deliver (or cause to be delivered) to the
                        Agent filestamped copies of, or filing receipts for, any
                        document filed as provided above, as soon as available
                        following such filing. In the event that the Borrower
                        fails to perform its obligations under this subsection,
                        the Agent, or the Collateral Agent at the direction of
                        the Agent or the Agent, may do so, in each case at the
                        expense of the Borrower.

        (b)     The Borrower shall not change its name, identity or structure in
any manner that would, make any financing statement or continuation statement
filed by the Borrower (or by the Agent or the Custodian on behalf of the
Borrower) in accordance with paragraph (a) above seriously misleading within the
meaning of ss. 9402(7) of the UCC, unless the Borrower shall have given the
Agent at least 30 days prior written notice thereof, and shall promptly file
appropriate amendments to all previously filed financing statements and
continuation statements.

        (c)     The Borrower shall give the Agent at least 30 days prior written
notice of any relocation of its principal executive office if, as a result of
such relocation, the applicable provisions of the UCC would require the filing
of any amendment of any previously filed

                                     - 56 -
<PAGE>   62

financing or continuation statement or of any new financing statement. The
Borrower shall at all times maintain its principal executive office within the
United States of America.

        (d)     The Borrower shall maintain its computer systems, if any, so
that, from and after the time of the first Advance under this Agreement, the
Borrower's master computer records (including archives) that shall refer to the
Borrower Collateral indicate clearly that such Borrower Collateral is subject to
first priority security interest in favor of the Collateral Agent, for the
benefit of the Secured Parties. Indication of the Collateral Agent's (for the
benefit of the Secured Parties) security interest shall be deleted from or
modified on the Borrower's computer systems when, and only when, the Borrower
Collateral in question shall have been paid in full.

        (e)     Without limiting any of the other provisions hereof, if at any
time the Borrower shall propose to sell, grant a security interest in, or
otherwise transfer any interest in motor vehicle receivables to any prospective
purchaser, lender or other transferee, the Borrower shall give to such
prospective purchaser, lender, or other transferee computer tapes, records, or
printouts (including any restored from archives) that, if they shall refer in
any manner whatsoever to any Borrower Collateral shall indicate clearly that
such Borrower Collateral is subject to a first priority security interest in
favor of the Collateral Agent, for the benefit of the Secured Parties.

                b.      Other Liens or Interests. Except for the security
                        interest granted under the Security Agreement, the
                        Borrower will not sell, pledge, assign or transfer to
                        any other Person, or grant, create, incur, assume or
                        suffer to exist any Lien on the Borrower Collateral or
                        any interest therein, and the Borrower shall defend the
                        right, title, and interest of the Collateral Agent (for
                        the benefit of the Secured Parties), the Investors and
                        the Agent in and to the Borrower Collateral against all
                        claims of third parties claiming through or under the
                        Borrower.

                c.      Costs and Expenses. The Borrower shall pay all of its
                        reasonable costs and disbursements in connection with
                        the performance of its obligations hereunder and under
                        the Transaction Documents.

                d.      Reporting Requirements. The Borrower shall furnish, or
                        cause to be furnished, to the Agent and the Collateral
                        Agent:

                        i.      as soon as available and in any event within 120
                                days (or next succeeding Business Day if the
                                last day of such period is not a Business Day)
                                after the end of each fiscal year, a copy of the
                                audited consolidated financial statements for
                                such year for Drive and its consolidated
                                Subsidiaries, certified, without qualification
                                by Independent Accountants acceptable to the
                                Agent and the Agent and each other report or
                                statement sent to shareholders or publicly filed
                                by Drive or the Borrower;

                        ii.     as soon as available and in any event within 45
                                days (or next succeeding Business Day if the
                                last day of such period is not a Business Day)
                                after the end of each of the first three
                                quarters of each fiscal year of Drive, a
                                consolidated balance sheet of Drive and

                                     - 57 -
<PAGE>   63

                                its consolidated Subsidiaries as of the end of
                                such quarter and including the prior comparable
                                period, and consolidated statements of income
                                and retained earnings, of Drive and its
                                consolidated Subsidiaries for such quarter and
                                for the period commencing at the end of the
                                previous fiscal year and ending with the end of
                                such quarter, certified by the chief financial
                                officer or chief accounting officer of Drive
                                identifying such documents as being the
                                documents described in this paragraph (b) and
                                stating that the information set forth therein
                                fairly presents the financial condition of Drive
                                and its consolidated Subsidiaries as of and for
                                the periods then ended, subject to yearend
                                adjustments and confirming that Drive is in
                                compliance with all financial covenants in the
                                Transaction Documents;

                        iii.    as soon as possible and in any event within five
                                days after the occurrence of a Facility
                                Termination Event or Unmatured Facility
                                Termination Event, the statement of an Executive
                                Officer of the Borrower or Drive setting forth
                                complete details of such Facility Termination
                                Event or Unmatured Facility Termination Event
                                and the action which the Borrower has taken, is
                                taking and proposes to take with respect
                                thereto; and

                        iv.     promptly, from time to time, such other
                                information, documents, records or reports
                                respecting the Transferred Receivables, the
                                other Property related thereto or the Financed
                                Vehicles related thereto, the other Borrower
                                Collateral or the condition or operations,
                                financial or otherwise, of the Borrower, or
                                Drive or any of its Subsidiaries, as the Agent
                                may, from time to time, reasonably request.

                e.      Separate Existence.

                        i.      The Borrower shall conduct its business solely
                                in its own name through its duly authorized
                                officers or agents so as not to mislead others
                                as to the identity of the entity with which such
                                persons are concerned, and shall use its best
                                efforts to avoid the appearance that it is
                                conducting business on behalf of any Affiliate
                                thereof or that the assets of the Borrower are
                                available to pay the creditors of Drive or any
                                Affiliate thereof (other than as expressly
                                provided herein).

                        ii.     The Borrower shall maintain records and books of
                                account separate from those of Drive and any
                                Affiliate thereof.

                        iii.    The Borrower shall obtain proper authorization
                                for all action requiring such authorization.

                                     - 58 -
<PAGE>   64

                        iv.     The Borrower shall pay its own operating
                                expenses and liabilities from its own funds.

                        v.      The annual financial statements of Drive shall
                                disclose the effects of the transactions
                                contemplated hereby in accordance with generally
                                accepted accounting principles.

                        vi.     The resolutions, agreements and other
                                instruments of the Borrower underlying the
                                transactions described in the Transaction
                                Documents shall be continuously maintained by
                                the Borrower as official records of the
                                Borrower.

                        vii.    The Borrower shall maintain an arm's-length
                                relationship with Drive and its Affiliates, and
                                shall not hold itself out as being liable for
                                the debts of Drive or any of its Affiliates.

                        viii.   The Borrower shall keep its assets and
                                liabilities separate from those of all other
                                entities other than as permitted by the
                                Transaction Documents.

                        ix.     The books and records of the Borrower shall be
                                maintained at the address designated herein for
                                receipt of notices, unless the Borrower shall
                                otherwise advise the parties hereto in writing.

                        x.      The Borrower shall not maintain bank accounts or
                                other depository accounts to which any Affiliate
                                is an account party, into which any Affiliate
                                makes deposits or from which any Affiliate has
                                the power to make withdrawals, except as
                                otherwise permitted by the Transaction
                                Documents.

                        xi.     The Borrower shall insure that any consolidated
                                financial statements of Drive has notes to the
                                effect that the Borrower is a separate entity
                                whose creditors have a claim on its assets prior
                                to those assets becoming available to its equity
                                holders.

                        xii.    The Borrower shall not amend, supplement or
                                otherwise modify its partnership agreement,
                                except in accordance therewith and with the
                                prior written consent of the Agent (which
                                consent shall not be unreasonably withheld).

                f.      Tangible Net Worth. The Borrower shall maintain at all
                        times a positive Tangible Net Worth.

                g.      Take-Out Securitization. No more than twelve months
                        after the Closing Date and thereafter at least once
                        during each successive twelve month period, the Borrower
                        or an Affiliate shall effect a Take-Out Securitization
                        with respect to at least 90% of all Transferred
                        Receivables which are Eligible Receivables at the time
                        of the closing of such transaction.

                                     - 59 -
<PAGE>   65

                h.      Stock, Merger, Consolidation, Etc. The Borrower shall
                        not merge or consolidate with any other Person or permit
                        any other Person to become the successor to all or
                        substantially all of the Borrower's business or assets.

                i.      Change in Name. The Borrower shall not make any change
                        to its name or use any trade names, fictitious names,
                        assumed names or "doing business as" names.

                j.      Indebtedness; Guarantees. The Borrower shall not create,
                        incur, assume or suffer to exist any indebtedness other
                        than indebtedness permitted under the Transaction
                        Documents. The Borrower shall incur no additional
                        borrowed money indebtedness secured by the Borrower
                        Collateral other than the Advances. The Borrower shall
                        not assume, guarantee, endorse or otherwise be or become
                        directly or contingently liable for the obligations of
                        any Person by, among other things, agreeing to purchase
                        any obligation of another Person, agreeing to advance
                        funds to such Person or causing or assisting such Person
                        to maintain any amount of capital.

                k.      Limitation on Transactions with Affiliates. The Borrower
                        shall not enter into, or be a party to any transaction
                        with any Affiliate of the Borrower, except for (a) the
                        transactions contemplated by the Transaction Documents
                        and (b) to the extent not otherwise prohibited under
                        this Agreement, other transactions in the nature of
                        employment contracts and directors' fees, upon fair and
                        reasonable terms materially no less favorable to the
                        Borrower than would be obtained in a comparable
                        arm's-length transaction with a Person not an Affiliate.

                l.      Documents. The Borrower shall not cancel or terminate
                        any of the Transaction Documents to which it is party
                        (in any capacity), or consent to or accept any
                        cancellation or termination of any of such agreements,
                        or amend or otherwise modify any term or condition of
                        any of the Transaction Documents to which it is party
                        (in any capacity) or give any consent, waiver or
                        approval under any such agreement, or waive any default
                        under or breach of any of the Transaction Documents to
                        which it is party (in any capacity) or take any other
                        action under any such agreement not required by the
                        terms thereof, unless (in each case) the Agent shall
                        have consented thereto (which consent shall not
                        unreasonably be withheld to the extent set forth in such
                        Transaction Document).

                m.      Preservation of Existence. The Borrower shall observe
                        all procedures required by its organizational documents
                        and preserve and maintain its existence, rights,
                        franchises and privileges in the jurisdiction of its
                        formation and qualify and remain qualified in good
                        standing in each jurisdiction where the failure to
                        preserve and maintain such existence, rights,
                        franchises, privileges and qualifications would
                        materially adversely affect (1) the interests hereunder
                        of the Agent or any Secured Party, (2) the

                                     - 60 -
<PAGE>   66

                        collectibility of any Receivable or (3) its ability to
                        perform its obligations hereunder or under any of the
                        other Transaction Documents.

                n.      Keeping of Records and Books of Account. The Borrower
                        shall maintain and implement (or cause the Servicer to
                        maintain and implement) administrative and operating
                        procedures (including, without limitation, an ability to
                        recreate records evidencing the Receivables in the event
                        of the destruction of the originals thereof) and keep
                        and maintain, all documents, books, records and other
                        information reasonably necessary or advisable for the
                        collection of all Transferred Receivables (including,
                        without limitation, records adequate to permit the daily
                        identification of all collections of and adjustments to
                        each Transferred Receivable).

                o.      Accounting Treatment. The Borrower shall not prepare any
                        financial statements or other statements (including any
                        tax filings which are not consolidated with those of
                        Drive) which shall account for the transactions
                        contemplated by the Receivables Purchase Agreement in
                        any manner other than as the sale of, or a capital
                        contribution of, the Transferred Receivables and the
                        related assets by the Seller to the Borrower.

                p.      Limitation on Investments. The Borrower shall not form,
                        or cause to be formed, any Subsidiaries; or make or
                        suffer to exist any loans or advances to, or extend any
                        credit to, or make any investments (by way of transfer
                        of property, contributions to capital, purchase of stock
                        or securities or evidences of indebtedness, acquisition
                        of the business or assets, or otherwise) in, any
                        Affiliate or any other Person except as otherwise
                        permitted herein and pursuant to the other Transaction
                        Documents.

                q.      Distributions. The Borrower shall not declare or make
                        (a) payment of any distribution on or in respect of any
                        shares of its capital stock, or (b) any payment on
                        account of the purchase, redemption, retirement or
                        acquisition of any option, warrant or other right to
                        acquire such shares unless (in each case) at the time of
                        such declaration or payment (and after giving effect
                        thereto) no Facility Termination Event under Section
                        14.1 or Unmatured Facility Termination Event under
                        Section 14.1 shall occur or be continuing and no amount
                        payable by the Borrower under any Transaction Document
                        is then due and owing but unpaid.

16.
        THE SERVICER

                a.      Liability of Servicer. The Servicer (in its capacity as
                        such) shall be liable hereunder only to the extent of
                        the obligations in this Agreement and the other
                        Transaction Documents specifically undertaken by the
                        Servicer and the representations made by the Servicer.

                b.      Merger or Consolidation of, or Assumption of the
                        Obligations of, the Servicer. (a) The Servicer shall not
                        merge or consolidate with any other

                                     - 61 -
<PAGE>   67

                        Person, convey, transfer or lease all or substantially
                        all its assets as an entirety to another Person, or
                        permit any other Person to become the successor to all
                        or substantially all of its business or assets, unless
                        after the merger, consolidation, conveyance, transfer,
                        lease or succession, the successor or surviving entity
                        shall be an Eligible Servicer and shall be capable of
                        fulfilling the duties of the Servicer contained in this
                        Agreement. Any Person (i) into which the Servicer may be
                        merged or consolidated, (ii) resulting from any merger
                        or consolidation to which the Servicer shall be a party,
                        (iii) which acquires by conveyance, transfer, or lease
                        substantially all of the assets of the Servicer, or (iv)
                        succeeding to the business of the Servicer, in any of
                        the foregoing cases shall execute an agreement of
                        assumption to perform every obligation of the Servicer
                        under this Agreement and the Security Agreement and,
                        whether or not such assumption agreement is executed,
                        shall be the successor to the Servicer under this
                        Agreement and the Security Agreement without the
                        execution or filing of any paper or any further act on
                        the part of any of the parties to this Agreement,
                        anything in this Agreement to the contrary
                        notwithstanding; provided, however, that nothing
                        contained herein shall be deemed to release the Servicer
                        from any obligation hereunder. The Servicer shall
                        provide notice of any merger, consolidation or
                        succession pursuant to this Section 12.2(a) to the Agent
                        and the Agent shall have consented thereto; provided,
                        however, that if the successor to the Servicer is rated
                        at least investment grade by the Rating Agencies and is
                        in the business of servicing assets similar to the
                        Receivables, the Agent's consent may not be unreasonably
                        withheld. Notwithstanding the foregoing, as a condition
                        to the consummation of the transactions referred to in
                        clauses (i), (ii), (iii) and (iv) above, (x) immediately
                        after giving effect to such transaction, no
                        representation or warranty made pursuant to Section 8.6
                        shall have been breached in any material respect (for
                        purposes hereof, such representations and warranties
                        shall speak as of the date of the consummation of such
                        transaction) and no event that after notice or lapse of
                        time would become a Facility Termination Event pursuant
                        to Section 14.1 shall have occurred and be continuing,
                        (y) the Servicer shall have delivered to the Agent an
                        Officer's Certificate and an Opinion of Counsel each
                        stating that such consolidation, merger or succession
                        and such agreement of assumption comply with this
                        Section 12.2(a), and (z) the Servicer shall have
                        delivered to the Agent an Opinion of Counsel, stating,
                        in the opinion of such counsel, either (A) all financing
                        statements and continuation statements and amendments
                        thereto have been executed and filed that are necessary
                        to preserve and protect the security interest of the
                        Collateral Agent (for the benefit of the Secured
                        Parties) in the Transferred Receivables and reciting the
                        details of the filings, if any, or (B) no such action
                        shall be necessary to preserve and protect such
                        interest.

        (b)     Limitation on Liability of Servicer and Others. (a) Neither the
Servicer nor any of the directors or officers or employees or agents of the
Servicer shall be under any liability to the Borrower, the Investors or the
Agent, except as provided in this Agreement, for any action taken or for
refraining from the taking of any action pursuant to this Agreement; provided,
however,

                                     - 62 -
<PAGE>   68

that this provision shall not protect the Servicer or any such Person
against any liability that would otherwise be imposed by reason of a breach of
this Agreement or willful misfeasance, bad faith or negligence in the
performance of its duties. The Servicer and any director, officer, employee or
agent of the Servicer may rely in good faith on the written advice of counsel or
on any document of any kind prima facie properly executed and submitted by any
Person respecting any matters arising under this Agreement.

                c.      Delegation of Duties. So long as Drive is the Servicer,
                        the Servicer may delegate duties under this Agreement to
                        an Affiliate of Drive with the prior written consent of
                        the Agent (which consent shall not be unreasonably
                        withheld). The Servicer also may at any time perform the
                        specific duties of (i) repossession of Financed
                        Vehicles, and (ii) pursuing the collection of deficiency
                        balances on Liquidated Receivables, in each case through
                        sub- contractors who are in the business of servicing
                        automotive receivables, without the consent of the
                        Agent. The Servicer may also perform other specific
                        duties through such sub-contractors in accordance with
                        its customary servicing policies and procedures without
                        the prior consent of the Agent; provided, however, that
                        no such delegation or subcontracting of duties by the
                        Servicer shall relieve the Servicer of its
                        responsibility with respect to such duties. Neither
                        Drive nor any other party acting as Servicer hereunder
                        shall appoint any other subservicer hereunder without
                        the prior written consent of the Agent.

                d.      Servicer Not to Resign. Subject to the provisions of
                        Section 12.2, the Servicer shall not resign from the
                        obligations and duties imposed on it by this Agreement
                        as Servicer except upon a determination that by reason
                        of a change in legal requirements the performance of its
                        duties under this Agreement would cause it to be in
                        violation of such legal requirements and the Agent does
                        not elect to waive the obligations of the Servicer to
                        perform the duties which render it legally unable to act
                        or to delegate those duties to another Person. Any such
                        determination permitting the resignation of the Servicer
                        shall be evidenced by an Opinion of Counsel to such
                        effect delivered and acceptable to the Agent. No
                        resignation of the Servicer shall become effective until
                        an entity acceptable to the Agent shall have assumed the
                        responsibilities and obligations of the Servicer.

17.
        SERVICER TERMINATION EVENTS

                a.      Servicer Termination Event. For purposes of this
                        Agreement, each of the following shall constitute a
                        "Servicer Termination Event":

                        i.      Any failure by the Servicer or, so long as Drive
                                or an Affiliate of the Borrower is the Servicer,
                                the Borrower to deliver to the Collateral Agent
                                any proceeds or payment required to be so made
                                or delivered under the terms of this Agreement
                                or the Security Agreement (or, if Drive or an
                                Affiliate of the Borrower is the

                                     - 63 -
<PAGE>   69

                                Servicer, under the Receivables Purchase
                                Agreement) that continues unremedied for a
                                period of two Business Days (or, with respect to
                                any Purchase Amounts, one Business Day) after
                                written notice is received by the Servicer from
                                the Agent or, without duplication, the Agent or
                                after discovery of such failure by a Responsible
                                Officer of the Servicer;

                        ii.     Failure by the Servicer to deliver the
                                Servicer's Certificate required by Section 8.9
                                by 2:00 p.m. New York City time on each
                                Determination Date (or within two Business Days
                                thereafter, if such failure by the Servicer is
                                due to circumstances outside the Servicer's
                                control);

                        iii.    Failure on the part of the Servicer to observe
                                in all material aspects its covenants and
                                agreements set forth in Section 12.2(a);

                        iv.     Failure or failures on the part of the Servicer
                                or, so long as Drive or an Affiliate of the
                                Borrower is the Servicer, the Borrower, duly to
                                observe or perform in any material respect any
                                other covenants or agreements of the Servicer
                                or, so long as Drive is the Servicer, the
                                Borrower, as the case may be, set forth in this
                                Agreement or the Security Agreement (or, as to
                                Drive, if Drive is the Servicer, the Receivables
                                Purchase Agreement), which failure or failures,
                                individually or in the aggregate, (i) materially
                                and adversely affect the rights of the Investors
                                and (ii) to the extent capable of cure, continue
                                unremedied for a period of 30 days after the
                                earlier of knowledge thereof by a Responsible
                                Officer of the Servicer and the date on which
                                written notice of such failure, requiring the
                                same to be remedied, shall have been given to
                                the Servicer by the Agent;

                        v.      The occurrence of an Insolvency Event with
                                respect to the Servicer;

                        vi.     Any representation, warranty or statement of the
                                Servicer (or, if Drive or an Affiliate of the
                                Borrower is the Servicer, the Borrower) made in
                                this Agreement or the Security Agreement or any
                                certificate, report or other writing delivered
                                pursuant hereto or thereto shall prove to be
                                incorrect in any material respect as of the time
                                when the same shall have been made (excluding,
                                however, any representation or warranty set
                                forth in the definition of "Eligible
                                Receivable"), and the incorrectness of such
                                representation or warranty has a material
                                adverse effect on the Investors and, within 30
                                days after the earlier of knowledge thereof by a
                                Responsible Officer of the Servicer and the date
                                written notice thereof shall have been given to
                                the Servicer (or, if Drive or an Affiliate of
                                the Borrower is the Servicer, the Borrower) by
                                the Agent the circumstances or condition in
                                respect of which such

                                     - 64 -
<PAGE>   70

                                representation, warranty or statement was
                                incorrect shall not have been eliminated or
                                otherwise cured;

                        vii.    The average of the Servicer Delinquency Ratios
                                for the last day of each of the preceding three
                                Collection Periods equals or exceeds 12%;

                        viii.   The Portfolio Net Loss Ratio exceeds 14%.

                b.      Consequences of a Servicer Termination Event. If a
                        Servicer Termination Event shall occur and be
                        continuing, the Agent, by written notice given to the
                        Servicer, may terminate all of the rights and
                        obligations of the Servicer under this Agreement. On or
                        after the receipt by the Servicer of such written
                        notice, all authority, power, obligations and
                        responsibilities of the Servicer under this Agreement,
                        whether with respect to the Notes, the Transferred
                        Receivables, the other Borrower Collateral or otherwise,
                        automatically shall pass to, be vested in and become
                        obligations and responsibilities of such successor
                        Servicer as may be appointed by the Agent; provided,
                        however, that the successor Servicer shall have no
                        liability with respect to (i) any obligation that was
                        required to be performed by the terminated Servicer
                        prior to the date that the successor Servicer becomes
                        the Servicer, (ii) any claim of a third party based on
                        any alleged action or inaction of the terminated
                        Servicer, (iii) any obligation of Drive, as Servicer
                        hereunder, to make any repurchase or make any advance,
                        (iv) any obligation to pay taxes required to be paid by
                        Drive, as Servicer hereunder, (v) any obligation of
                        Drive, as Servicer hereunder, to pay any fees and
                        expenses of any other party to the Transaction Documents
                        or (vi) any indemnification obligation of any prior
                        Servicer. The successor Servicer is authorized and
                        empowered by this Agreement to execute and deliver, on
                        behalf of the prior Servicer, as attorney-in-fact or
                        otherwise, any and all documents and other instruments
                        and to do or accomplish all other acts or things
                        necessary or appropriate to effect the purposes of such
                        notice of termination, whether to complete the transfer
                        and endorsement of the Transferred Receivables and
                        related documents to show the Collateral Agent (for the
                        benefit of the Secured Parties) as lienholder or secured
                        party, or otherwise. The prior Servicer agrees to
                        cooperate with the successor Servicer in effecting the
                        termination of the responsibilities and rights of the
                        prior Servicer under this Agreement, including, without
                        limitation and at the prior Servicer's expense, the
                        transfer to the successor Servicer for administration by
                        it of all cash amounts that shall at the time be held by
                        the prior Servicer for deposit, or have been deposited
                        by the prior Servicer, in the Collection Account or
                        thereafter received with respect to the Transferred
                        Receivables and the delivery to the successor Servicer
                        of all Receivable Files, Monthly Records and Collection
                        Records and a computer tape in readable form containing
                        all information necessary to enable the successor
                        Servicer to service the Transferred Receivables. In
                        addition, upon the occurrence of a Servicer Termination
                        Event, the Servicer shall, if so requested by the

                                     - 65 -
<PAGE>   71

                        Agent, deliver to the Agent or successor Servicer its
                        Monthly Records within two days after demand therefor
                        and a computer tape or diskette (or any other means of
                        electronic transmission acceptable to such Person)
                        containing as of the close of business on the date of
                        demand all of the data maintained by the Servicer in
                        computer format in connection with servicing the
                        Transferred Receivables. If requested by the Agent or
                        successor Servicer shall terminate the Intercreditor
                        Agreement and direct the Obligors to make all payments
                        under the Transferred Receivables directly to the
                        successor Servicer (in which event the successor
                        Servicer shall process such payments in accordance with
                        Section 8.2(d)), or to a lockbox established by the
                        successor Servicer at the direction of the Agent, at the
                        prior Servicer's expense. The terminated Servicer shall
                        grant the Agent and any successor Servicer reasonable
                        access to the terminated Servicer's premises at the
                        terminated Servicer's expense.

                c.      Appointment of Successor Servicer. (a) On and after (i)
                        the time the Servicer receives a notice of termination
                        pursuant to Section 13.2 or (ii) upon the resignation of
                        the Servicer pursuant to Section 12.5, a successor
                        Servicer appointed by the Agent shall be the successor
                        in all respects to the Servicer in its capacity as
                        Servicer under this Agreement and the transactions set
                        forth or provided for in this Agreement and shall be
                        subject to all the rights, responsibilities,
                        restrictions, duties, liabilities and termination
                        provisions relating thereto placed on the Servicer by
                        the terms and provisions of this Agreement; provided,
                        however, that the successor Servicer shall not be liable
                        for any acts, omissions or obligations of the Servicer
                        prior to such succession or for any breach by the
                        Servicer of any of its representations and warranties
                        contained in this Agreement or in any related document.
                        The Servicer and such successor shall take such action,
                        consistent with this Agreement, as shall be necessary to
                        effectuate any such succession. If a successor Servicer
                        is acting as Servicer hereunder, it shall be subject to
                        termination under Section 13.2 upon the occurrence of
                        any Servicer Termination Event applicable to it as
                        Servicer. Any successor Servicer appointed pursuant to
                        this Section 13.3 shall be entitled to compensation
                        equal to the greater of (i) the Total Servicing Fee or
                        (ii) the then- current "market rate" fee for servicing
                        assets comparable to the Receivables, which rate shall
                        be determined by averaging three servicing fee bids
                        obtained by the Agent from third party servicers
                        selected by the Agent; provided, however, in no event
                        shall a successor Servicer be entitled to receive
                        compensation in excess of 3.0% of the Aggregate
                        Outstanding Principal Balance as of the first day of any
                        related Collection Period, unless the Collateral Agent
                        shall have obtained the prior written consent of the
                        Agent (which consent shall not be unreasonably
                        withheld); and provided, further, that any transition
                        fees payable in connection with the transfer of
                        servicing shall be paid by Drive, and to the extent not
                        paid by Drive, such fees shall be payable pursuant to
                        Section 8(a)(ii) or 8(b)(ii) of the Security Agreement;
                        provided; however, that in no event shall such
                        transition fees exceed $50,000, unless the Collateral
                        Agent shall have

                                     - 66 -
<PAGE>   72

                        obtained the prior written consent of the Agent (which
                        consent shall not be unreasonably withheld).

                (b)     Waiver of Past Defaults. The Agent acting with the
        consent of the Required Lenders, may waive any default by the Servicer
        in the performance of its obligations hereunder and its consequences.
        Upon any such waiver of a past default, such default shall cease to
        exist, and any Servicer Termination Event arising therefrom shall be
        deemed to have been remedied for every purpose of this Agreement. No
        such waiver shall extend to any subsequent or other default or impair
        any right consequent thereon. The waiving party shall provide prompt
        written notice of any such waiver to the Collateral Agent. The
        Collateral Agent shall provide the Agent with notice of any waiver of
        any default by the Servicer hereunder.

18.
        FACILITY TERMINATION EVENTS; EVENTS

                            OF DEFAULT; THEIR EFFECT

                a.      Facility Termination Events. Each of the following shall
                        constitute a Facility Termination Event under this
                        Agreement:

                        i.      Default in the payment when due of any principal
                                of any Advance, which default shall continue
                                unremedied for one Business Day, or default in
                                the payment of any other amount payable by the
                                Borrower or Drive (in any capacity) hereunder,
                                including, without limitation, any Interest on
                                any Advance which default shall continue for one
                                Business Day;

                        ii.     The Borrower or Drive (in any capacity) shall
                                fail to perform or observe any other term,
                                covenant or agreement contained in this
                                Agreement, or any other Transaction Document on
                                its part to be performed or observed and, except
                                in the case of the covenants and agreements
                                contained in Sections 11.7 and 11.8, as to each
                                of which no grace period shall apply, any such
                                failure shall remain unremedied for 30 days (two
                                days with respect to Section 11.6) after
                                knowledge thereof or after written notice
                                thereof shall have been given by the Agent to
                                the Borrower or Drive;

                        iii.    Any representation or warranty of the Borrower
                                or Drive (in any capacity) made or deemed to
                                have been made hereunder or in any other
                                Transaction Document or any other writing or
                                certificate furnished by or on behalf of the
                                Borrower or Drive (in any capacity) to the Agent
                                for purposes of or in connection with this
                                Agreement or any other Transaction Document
                                (including any Servicer's Certificate or
                                Borrowing Base Confirmation) shall prove to have
                                been false or incorrect in any material respect
                                when made or deemed to have been made; provided
                                that no breach shall be deemed to occur
                                hereunder in respect of any representation or

                                     - 67 -
<PAGE>   73

                                warranty relating to the "eligibility" of any
                                Receivable if such Receivable shall have been
                                purchased or repurchased by the Servicer or the
                                Seller;

                        iv.     An Insolvency Event shall have occurred and be
                                continuing with respect to the Borrower or
                                Drive;

                        v.      The aggregate principal amount of all Advances
                                outstanding hereunder exceeds the Borrowing Base
                                and such condition continues unremedied for one
                                Business Day (such excess referred to as the
                                "Borrowing Base Deficiency");

                        vi.     The Internal Revenue Service shall file notice
                                of a lien pursuant to Section 6323 of the
                                Internal Revenue Code with regard to any of the
                                assets of the Borrower or any material portion
                                of the assets of Drive and such lien shall not
                                have been released within 5 Business Days, or
                                the Pension Benefit Guaranty Corporation shall
                                file notice of a lien pursuant to Section 4068
                                of ERISA with regard to any of the assets of the
                                Borrower or Drive and such lien shall not have
                                been released within 5 Business Days;

                        vii.    (i) Any Transaction Document or any lien or
                                security interest granted thereunder by the
                                Borrower, shall (except in accordance with its
                                terms), in whole or in part, terminate, cease to
                                be effective or cease to be the legally valid,
                                binding and enforceable obligation of the
                                Borrower; or (ii) the Borrower or any other
                                party shall, directly or indirectly, contest in
                                any manner such effectiveness, validity, binding
                                nature or enforceability; or (iii) any security
                                interest securing any Obligation shall, in whole
                                or in part, cease to be a perfected first
                                priority security interest (except, as to
                                priority, for any tax liens or mechanics liens
                                that may arise after the applicable Purchase
                                Date) against the Borrower; or

                        viii.   A Servicer Termination Event shall have occurred
                                and be continuing.

                b.      Effect of Facility Termination Event.

                        i.      Optional Termination. Upon the occurrence of a
                                Facility Termination Event (other than a
                                Facility Termination Event described in Section
                                14.1(d)), the Agent may declare all or any
                                portion of the outstanding principal amount of
                                the Advances and other Obligations to be due and
                                payable and/or the Facility (if not theretofore
                                terminated) to be terminated, whereupon the full
                                unpaid amount of such Advances and other
                                Obligations which shall be so declared due and
                                payable shall be and become immediately due and
                                payable, without further notice, demand or
                                presentment, and/or, as the case may be, the
                                Facility shall terminate.

                                     - 68 -
<PAGE>   74

                        ii.     Automatic Termination. Upon the occurrence of a
                                Facility Termination Event described in Section
                                14.1(d) or a Servicer Termination Event
                                described in Section 13.1(e), the Facility
                                Termination Date shall be deemed to have
                                occurred automatically, and all outstanding
                                Advances under this Agreement and all other
                                Obligations under this Agreement shall become
                                immediately and automatically due and payable,
                                all without presentment, demand, protest or
                                notice of any kind.

                c.      Rights Upon Termination Event. (a) If a Facility
                        Termination Event shall have occurred and be continuing,
                        the Agent may direct the Collateral Agent to exercise
                        any of the remedies specified in the Security Agreement
                        in respect of the Borrower Collateral.

19.
         THE AGENT

                a.      Appointment. Each Lender hereunder hereby irrevocably
                        designates and appoints IFA as Agent hereunder and under
                        the other Transaction Documents, and authorizes the
                        Agent to take such action on its behalf under the
                        provisions of this Agreement, the Security Agreement and
                        the other Transaction Documents and to exercise such
                        powers and perform such duties as are expressly
                        delegated to the Agent or, when the Agent is entitled so
                        to act, to the Agent by the terms of this Agreement, the
                        Security Agreement and the other Transaction Documents,
                        together with such other powers as are reasonably
                        incidental thereto. Notwithstanding any provision to the
                        contrary elsewhere in this Agreement, the Agent shall
                        not have any duties or responsibilities, except those
                        expressly set forth herein, or any fiduciary
                        relationship with any Lender, and no implied covenants,
                        functions, responsibilities, duties, obligations or
                        liabilities on the part of the Agent to any Lender shall
                        be read into this Agreement, the Security Agreement or
                        the other Transaction Documents or shall otherwise exist
                        against the Agent. In performing its functions and
                        duties hereunder, the Agent shall act solely as the
                        agent of the Lenders, and the Agent does not assume, nor
                        shall be deemed to have assumed, any obligation or
                        relationship of trust or agency with or for any such
                        Person.

                b.      Delegation of Duties. The Agent may execute any of its
                        duties under this Agreement, the Security Agreement and
                        the other Transaction Documents by or through its
                        subsidiaries, affiliates, agents or attorneys-in-fact
                        and shall be entitled to advice of counsel concerning
                        all matters pertaining to such duties. The Agent shall
                        not be responsible to any Lender for the negligence or
                        misconduct of any agents or attorneys-in-fact selected
                        by it with reasonable care.

                c.      Exculpatory Provisions. Neither the Agent (acting in
                        such capacity) nor any of its directors, officers,
                        agents or employees shall be (a) liable for any action
                        lawfully taken or omitted to be taken by it or them or
                        any Person

                                     - 69 -
<PAGE>   75

                        described in Section 15.2 under or in connection with
                        this Agreement, the Security Agreement or the other
                        Transaction Documents (except for its, their or such
                        Person's own gross negligence or willful misconduct), or
                        (b) responsible in any manner to any Person for any
                        recitals, statements, representations or warranties of
                        any Person (other than itself) contained in the
                        Transaction Documents or in any certificate, report,
                        statement or other document referred to or provided for
                        in, or received under or in connection with, the
                        Transaction Documents or for the value, validity,
                        effectiveness, genuineness, enforceability or
                        sufficiency of the Transaction Documents or any other
                        document furnished in connection therewith or herewith,
                        or for any failure of any Person (other than itself or
                        its directors, officers, agents or employees) to perform
                        its obligations under any Transaction Document or for
                        the satisfaction of any condition specified in a
                        Transaction Document. Except as otherwise expressly
                        provided in this Agreement, the Agent shall not be under
                        any obligation to any Person to ascertain or to inquire
                        as to the observance or performance of any of the
                        agreements or covenants contained in, or conditions of,
                        the Transaction Documents, or to inspect the properties,
                        books or records of the Borrower, Drive or the Servicer.

                d.      Reliance by Agent. The Agent shall in all cases be
                        entitled to rely, and shall be fully protected in
                        relying, upon any note, writing, resolution, notice,
                        consent, certificate, affidavit, letter, cablegram,
                        telegram, telecopy, telex or teletype message,
                        statement, order or other document or conversation
                        believed by it to be genuine and correct and to have
                        been signed, sent or made by the proper Person or
                        Persons and upon advice and statements of legal counsel
                        (including, without limitation, counsel to each of the
                        Lenders), independent accountants and other experts
                        selected by the Agent. The Agent shall in all cases be
                        fully justified in failing or refusing to take any
                        action under this Agreement, the Security Agreement, any
                        other Transaction Document or any other document
                        furnished in connection herewith or therewith unless it
                        shall first receive such advice or concurrence of the
                        Lenders, as it deems appropriate, or it shall first be
                        indemnified to its satisfaction by the Lenders against
                        any and all liability, cost and expense which may be
                        incurred by it by reason of taking or continuing to take
                        any such action. The Agent shall in all cases be fully
                        protected in acting, or in refraining from acting, under
                        this Agreement, the Security Agreement, the other
                        Transaction Documents or any other document furnished in
                        connection herewith or therewith in accordance with a
                        request of the Required Lenders, and such request and
                        any action taken or failure to act pursuant thereto
                        shall be binding upon all the Lenders.

                e.      Action Upon Certain Events; Reports and Notices.

                        i.      To the extent the Agent is entitled to consent
                                to or withhold its consent of any waiver or
                                amendment of this Agreement, the Security
                                Agreement or other Transaction Documents in
                                accordance

                                     - 70 -
<PAGE>   76

                                with the terms hereof or thereof, or is notified
                                in writing by a party hereto of a Facility
                                Termination Event or Servicer Termination Event,
                                the Agent shall (i) give prompt notice to the
                                Lenders of any such waiver, amendment, Facility
                                Termination Event or Servicer Termination Event
                                of which it is aware, and (ii) take such action
                                with respect to such waiver, amendment, Facility
                                Termination Event or Servicer Termination Event
                                as shall be directed by the Required Lenders;
                                provided, however, that unless and until the
                                Agent shall have received such directions, the
                                Agent may (but shall not be obligated to) take
                                such action, or refrain from taking such action,
                                with respect to such waiver, amendment, Facility
                                Termination Event or Servicer Termination Event,
                                as applicable, as the Agent shall, in its sole
                                discretion, deem advisable and in the best
                                interests of the Lenders.

                        ii.     The Agent shall upon request promptly provide
                                the Lenders with copies of reports and notices
                                received by it hereunder and under the Custodian
                                Agreement and the Security Agreement.

                f.      Non-Reliance on Agent. The Lenders expressly acknowledge
                        that neither the Agent, nor any of its officers,
                        directors, employees, agents, attorneys-in-fact or
                        affiliates has made any representations or warranties to
                        it and that no act by the Agent hereafter taken,
                        including, without limitation, any review of the affairs
                        of either the Borrower, the Seller, Drive, or the
                        Servicer, shall be deemed to constitute any
                        representation or warranty by the Agent to any Lender.
                        Except as expressly provided herein, the Agent shall not
                        have any duty or responsibility to provide any Lender
                        with any credit or other information concerning the
                        Borrower Collateral or the business, operations,
                        property, prospects, financial and other condition or
                        creditworthiness of the Borrower, Drive, the Seller, the
                        Servicer, or the Lenders which may come into the
                        possession of the Agent or any of its officers,
                        directors, employees, agents, attorneys-in-fact or
                        affiliates.

                g.      Indemnification. The Lenders agree to indemnify the
                        Agent and its officers, directors, employees,
                        representatives and agents (to the extent not reimbursed
                        by the Borrower, the Servicer or Drive under the
                        Transaction Documents, and without limiting the
                        obligation of such Persons to do so in accordance with
                        the terms of the Transaction Documents), ratably
                        according to their Commitment Percentages, from and
                        against any and all liabilities, obligations, losses,
                        damages, penalties, actions, judgments, suits, costs,
                        expenses or disbursements of any kind or nature
                        whatsoever (including, without limitation, the
                        reasonable fees and disbursements of counsel for the
                        Agent or the affected Person in connection with any
                        investigative, or judicial proceeding commenced or
                        threatened, whether or not the Agent or such affected
                        Person shall be designated a party thereto) that may at
                        any time be imposed on, incurred by or asserted against
                        the Agent or such affected Person as a result of, or
                        arising out of, or in any way related to or by reason
                        of, any of the transactions contemplated

                                     - 71 -
<PAGE>   77

                        hereunder or under the Transaction Documents or any
                        other document furnished in connection herewith or
                        therewith (but excluding any such liabilities,
                        obligations, losses, damages, penalties, actions,
                        judgments, suits, costs, expenses or disbursements
                        resulting solely from the gross negligence or willful
                        misconduct of the Agent or such affected Person).

                h.      Successor Agent. The Agent may, upon five (5) days'
                        notice to the Lenders (with a copy to the Borrower),
                        resign as Agent; provided, in either case, that a Lender
                        agrees to become the successor Agent hereunder in
                        accordance with the next sentence. If the Agent shall
                        resign as Agent under this Agreement, then the Required
                        Lenders during such period shall appoint from among the
                        Lenders a successor agent, whereupon such successor
                        agent shall succeed to the rights, powers and duties of
                        the Agent, and the term "Agent" shall mean such
                        successor agent, effective upon its acceptance of such
                        appointment, and the former Agent's rights, powers and
                        duties as Agent shall be terminated, without any other
                        or further act or deed on the part of such former Agent
                        or any of the parties to this Agreement. After the
                        retiring Agent's resignation hereunder as Agent, the
                        provisions of this Article XV shall inure to its benefit
                        as to any actions taken or omitted to be taken by it
                        while it was Agent under this Agreement. No resignation
                        of the Agent shall become effective until a successor
                        Agent shall have assumed the responsibilities and
                        obligations of the Agent; provided, however, that in the
                        event a successor Agent is not appointed within 60 days
                        after the Agent has given notice of its resignation as
                        permitted by this Section 15.8, the Agent may petition a
                        court for its removal.

                i.      Liability of the Agent. Notwithstanding any provision of
                        this Agreement, the Security Agreement or any other
                        Transaction Document: (i) the Agent shall not have any
                        obligations under this Agreement, the Security Agreement
                        or any other Transaction Document other than those
                        specifically set forth herein and therein, and no
                        implied obligations of the Agent shall be read into this
                        Agreement, the Security Agreement or any other
                        Transaction Document; and (ii) in no event shall the
                        Agent be liable under or in connection with this
                        Agreement, the Security Agreement or any other
                        Transaction Document for indirect, special, or
                        consequential losses or damages of any kind, including
                        lost profits, even if advised of the possibility thereof
                        and regardless of the form of action by which such
                        losses or damages may be claimed. Neither the Agent nor
                        any of its respective directors, officers, agents or
                        employees shall be liable for any action taken or
                        omitted to be taken in good faith by it or them under or
                        in connection with this Agreement, the Security
                        Agreement or any other Transaction Document, except for
                        its or their own gross negligence or willful misconduct.
                        Without limiting the foregoing, the Agent (a) may
                        consult with legal counsel (including counsel for the
                        Lenders, the Borrower or the Servicer), independent
                        public accountants and other experts selected by it and
                        shall not be liable for any action taken or omitted to
                        be taken in good faith by it in accordance with the
                        advice of such

                                     - 72 -
<PAGE>   78

                        counsel, accountants or experts, (b) shall not be
                        responsible to the Lenders, the Borrower, Drive, the
                        Servicer, or the Seller for any statements, warranties
                        or representations (other than its own statements) made
                        in or in connection with this Agreement, the Security
                        Agreement or the other Transaction Documents, (c) shall
                        not be responsible to the Lenders, the Borrower, Drive,
                        the Servicer, or the Seller for the due execution,
                        legality, validity, enforceability, genuineness,
                        sufficiency or value of this Agreement, the Security
                        Agreement or the other Transaction Documents (other than
                        the legality, validity, enforceability or genuineness of
                        its own execution, authorization and performance hereof
                        and thereof), (d) shall incur no liability under or in
                        respect of any of the commercial paper or other
                        obligations of the Lenders under this Agreement, the
                        Security Agreement or the other Transaction Documents
                        and (e) shall incur no liability under or in respect of
                        this Agreement, the Security Agreement or the other
                        Transaction Documents by acting upon any notice
                        (including notice by telephone), consent, certificate or
                        other instrument or writing (which may be by facsimile)
                        believed by it to be genuine and signed or sent by the
                        proper party or parties. Notwithstanding anything else
                        herein or in the other Transaction Documents, it is
                        agreed that where the Agent may be required under this
                        Agreement, the Security Agreement or the other
                        Transaction Documents to give notice of any event or
                        condition or to take any action as a result of the
                        occurrence of any event or the existence of any
                        condition, the Agent agrees to give such notice or take
                        such action only to the extent that it has actual
                        knowledge of the occurrence of such event or the
                        existence of such condition, and shall incur no
                        liability for any failure to give such notice or take
                        such action in the absence of such knowledge.

                j.      Agent and Affiliates. The Agent and any of its
                        Affiliates may generally engage in any kind of business
                        with the Borrower, the Servicer, the Seller, Drive, any
                        Obligor, any of their respective Affiliates and any
                        Person who may do business with or own securities of the
                        Borrower, the Servicer, the Seller, Drive, any Obligor
                        or any of their respective Affiliates, all as if the
                        Agent were not the Agent hereunder and without any duty
                        to account therefor to any Lender.

                k.      Agent. All the provisions of this Article XV shall apply
                        to the Agent in its capacity as Agent.

                                     - 73 -
<PAGE>   79

20.
      ASSIGNMENTS

                a.      Restrictions on Assignments. Except as specifically
                        provided herein (with respect to the Servicer), neither
                        the Borrower, the Servicer, Drive, nor the Seller may
                        assign any of their respective rights or obligations
                        hereunder or any interest herein without the prior
                        written consent of the Agent and the Required Lenders.
                        No Lender may assign its rights or obligations
                        hereunder, any Advance or any Note (or any portion
                        thereof) to any Person without the prior written consent
                        of the Borrower and the Agent (as to the Borrower only,
                        such consent not to be unreasonably withheld or
                        delayed); provided, however, that any Lender may assign,
                        or grant a security interest in, all or any portion of
                        the Advances and the Note to (i) IFA or any of its
                        Affiliates or another Lender or (ii) any Person managed
                        by IFA or any of its Affiliates (each, an "Eligible
                        Assignee"), in each case under clauses (i), (ii) and
                        (iii) above, without the prior written consent of the
                        Borrower; provided, further, that after the occurrence
                        of the Facility Termination Date, any Lender may,
                        subject to the provisions of Section 16.5, assign all or
                        a portion of the Advance or Note held by it to a Person
                        other than those identified in clauses (i), (ii) and
                        (iii) above without the prior written consent of the
                        Borrower.

                b.      Documentation. Each Lender shall deliver to each
                        assignee an assignment, in such form as such Lender and
                        the related assignee may agree, duly executed by such
                        Lender assigning any such rights, obligations, Advance
                        or Note to the assignee; and such Lender shall promptly
                        execute and deliver all further instruments and
                        documents, and take all further action, that the
                        assignee may reasonably request, in order to perfect,
                        protect or more fully evidence the assignee's right,
                        title and interest in and to the items assigned, and to
                        enable the assignee to exercise or enforce any rights
                        hereunder or under the Note evidencing such Advance.

                c.      Rights of Assignee. Upon the foreclosure of any
                        assignment of any Advances made for security purposes,
                        or upon any other assignment of any Advance from any
                        Lender pursuant to this Article XVI, the respective
                        assignee receiving such assignment shall have all of the
                        rights of such Lender hereunder with respect to such
                        Advances and all references to the Lender or Investors
                        in Section 6.1 shall be deemed to apply to such
                        assignee.

                d.      Notice of Assignment. Each Lender shall provide notice
                        to the Borrower of any assignment hereunder by such
                        Lender to any assignee.

                e.      Registration; Registration of Transfer and Exchange.

                        i.      The Agent shall keep a register (the "Note
                                Register") in which, subject to such reasonable
                                regulations as it may prescribe, the Agent shall
                                provide for the registration of the Notes and of
                                transfer

                                     - 74 -
<PAGE>   80

                                of the Notes. The Agent is hereby appointed
                                "Note Registrar" for the purpose of registering
                                the Notes and transfers of the Notes as herein
                                provided.

                        ii.     Each person who has or who acquired a Note shall
                                be deemed by such acquisition to have agreed to
                                be bound by the provisions of this Section 16.5.
                                The Agent shall not register (or cause to be
                                registered) the transfer of the Note, unless the
                                proposed transferee shall have delivered to the
                                Agent a properly executed Form W-9 and, in the
                                case of a transferee who is a foreign person
                                (within the meaning of Section 7701(a)(5) of the
                                Code), a properly executed Form W-8ECI or Form
                                W-8BEN.

                        iii.    At the option of the holder thereof, a Note may
                                be exchanged for one or more new Notes of any
                                authorized denominations and of a like class and
                                aggregate principal amount at an office or
                                agency of the Borrower. Whenever any Note is so
                                surrendered for exchange, the Borrower shall
                                execute and deliver (through the Agent) the new
                                Note which the holder making the exchange is
                                entitled to receive.

                        iv.     Upon surrender for registration of transfer of
                                any Note at an office or agency of the Borrower,
                                the Borrower shall execute and deliver (through
                                the Agent), in the name of the designated
                                transferee or transferees, one or more new Notes
                                of any authorized denominations and of a like
                                class and aggregate principal amount.

                        v.      All Notes issued upon any registration of
                                transfer or exchange of any Note in accordance
                                with the provisions of this Agreement shall be
                                the valid obligations of the Borrower,
                                evidencing the same debt, and entitled to the
                                same benefits under this Agreement, as the
                                Note(s) surrendered upon such registration of
                                transfer or exchange.

                        vi.     Every Note presented or surrendered for
                                registration of transfer or for exchange shall
                                (if so required by the Borrower or the Agent) be
                                fully endorsed, or be accompanied by a written
                                instrument of transfer in form satisfactory to
                                the Note Registrar, duly executed by the holder
                                thereof or his attorney duly authorized in
                                writing. Each such Note shall be accompanied by
                                a statement providing the name of the transferee
                                and indicating whether the transferee is subject
                                to income tax backup withholding requirements
                                and whether the transferee is the sole
                                beneficial owner of such Notes.

                        vii.    No service charge shall be made for any
                                registration of transfer or exchange of a Note,
                                but the Borrower may require payment from the
                                transferee holder of a sum sufficient to cover
                                any tax or other governmental charge that may be
                                imposed in connection with any registration of
                                transfer of exchange of a Note, other than
                                exchanges pursuant to this Section 16.5.

                                     - 75 -
<PAGE>   81

                        viii.   The holders of the Notes shall be bound by the
                                terms and conditions of this Agreement.

                f.      Mutilated, Destroyed, Lost and Stolen Notes.

                        i.      If any mutilated Note is surrendered to the
                                Agent, the Borrower shall execute and deliver
                                (through the Agent) in exchange therefor a new
                                Note of like class and tenor and principal
                                amount and bearing a number not
                                contemporaneously outstanding.

                        ii.     If there shall be delivered to the Borrower and
                                the Agent prior to the payment of the Note (i)
                                evidence to their satisfaction of the
                                destruction, loss or theft of any Note and (ii)
                                such security or indemnity as may be required by
                                them to save each of them and any agent of
                                either of them harmless, then, in the absence of
                                notice to the Borrower or the Agent that such
                                Note has been acquired by a bona fide purchaser,
                                the Borrower shall execute and deliver (through
                                the Agent), in lieu of any such destroyed, lost
                                or stolen Note, a new Note of like class, tenor
                                and principal amount and bearing a number not
                                contemporaneously outstanding.

                        iii.    Upon the issuance of any new Note under this
                                Section 16.6, the Borrower may require the
                                payment from the transferor holder of a sum
                                sufficient to cover any tax or other
                                governmental charge that may be imposed in
                                relation thereto and any other expenses
                                connected therewith.

                        iv.     Every new Note issued pursuant to this Section
                                16.6 and in accordance with the provisions of
                                this Agreement, in lieu of any destroyed, lost
                                or stolen Note shall constitute an original
                                additional contractual obligation of the
                                Borrower, whether or not the destroyed, lost or
                                stolen Note shall be at any time enforceable by
                                anyone, and shall be entitled to all the
                                benefits of this Agreement equally and
                                proportionately with any and all other Notes
                                duly issued hereunder.

                        v.      The provisions of this Section 16.6 are
                                exclusive and shall preclude (to the extent
                                lawful) all other rights and remedies with
                                respect to the replacement or payment of a
                                mutilated, destroyed, lost or stolen Note.

                g.      Persons Deemed Owners. The Borrower, the Servicer, the
                        Agent, the Collateral Agent and any agent for any of the
                        foregoing may treat the holder of any Note as the owner
                        of such Note for all purposes whatsoever, whether or not
                        such Note may be overdue, and none of the Borrower, the
                        Servicer, the Agent, the Collateral Agent and any such
                        agent shall be affected by notice to the contrary.

                                     - 76 -
<PAGE>   82

                h.      Cancellation. All Notes surrendered for payment or
                        registration of transfer or exchange shall be promptly
                        canceled. The Borrower shall promptly cancel and deliver
                        to the Agent any Notes previously authenticated and
                        delivered hereunder which the Borrower may have acquired
                        in any manner whatsoever, and all Notes so delivered
                        shall be promptly canceled by the Borrower. No Notes
                        shall be authenticated in lieu of or in exchange for any
                        Notes canceled as provided in this Section 16.8, except
                        as expressly permitted by this Agreement.

                i.      Participations; Pledge.

                        i.      At any time and from time to time, each Lender
                                may, in accordance with applicable law, at any
                                time grant participations in all or a portion of
                                its Commitment and/or its interest in the
                                Advances and other payments due to it under this
                                Agreement to any Person (each, a "Participant");
                                provided, however, that no participation shall
                                be granted to any Person unless and until the
                                Agent shall have consented thereto (which
                                consent shall not be unreasonably withheld or
                                delayed). Each Lender hereby acknowledges and
                                agrees that (A) any such participation will not
                                alter or affect such Lender's direct obligations
                                hereunder, and (B) neither the Borrower, the
                                Agent nor the Servicer shall have any obligation
                                to have any communication or relationship with
                                any Participant. Each Participant shall comply
                                with the provisions of Section 5.1(c) . No
                                Participant (i) which is other than an Eligible
                                Assignee shall be entitled to receive additional
                                amounts under Section 6.1 in excess of the
                                additional amounts its lead Lender would have
                                been entitled to receive had such participation
                                not been granted unless such Participant was
                                consented to by the Borrower or (ii) shall be
                                entitled to transfer all or any portion of its
                                participation without the prior written consent
                                of the Agent.

                        ii.     Each Lender may pledge its interest in the
                                Advances and its Note to any Federal Reserve
                                Bank as collateral in accordance with applicable
                                law.

                                     - 77 -
<PAGE>   83

21.
     INDEMNIFICATION

                a.      General Indemnity. Without limiting any other rights
                        which any such Person may have hereunder or under
                        applicable law, the Borrower and Drive, jointly and
                        severally, hereby agree to indemnify the Agent, the
                        Investors, the Custodian, the Collateral Agent and each
                        Eligible Assignee and each of their Affiliates, and each
                        of their respective successors, transferees,
                        participants and assigns and all officers, directors,
                        shareholders, controlling persons, employees and agents
                        of any of the foregoing (each of the foregoing Persons
                        being individually called an "Indemnified Party"),
                        forthwith on demand, from and against any and all
                        damages, losses, claims, liabilities and related costs
                        and expenses, including reasonable attorneys' fees and
                        disbursements (all of the foregoing being collectively
                        called "Indemnified Amounts") awarded against or
                        incurred by any of them arising out of or relating to
                        any Transaction Document or the transactions
                        contemplated thereby or the use of proceeds therefrom by
                        the Borrower or Drive, including (without limitation) in
                        respect of the funding of any Advance or in respect of
                        any Transferred Receivable, excluding, however, (a)
                        Indemnified Amounts to the extent determined by a court
                        of competent jurisdiction to have resulted from gross
                        negligence or willful misconduct on the part of any
                        Indemnified Party or its agent or subcontractor, (b)
                        except as otherwise provided herein, nonpayment by any
                        Obligor of an amount due and payable with respect to a
                        Transferred Receivable, (c) any loss in value of any
                        Financed Vehicle or Permitted Investment due to changes
                        in market conditions or for other reasons beyond the
                        control of the Borrower or Drive or (d) any tax upon or
                        measured by net income on any Indemnified Party. Without
                        limiting the foregoing, but subject to the exclusions
                        (a) through (d) above, the Borrower and Drive agree to
                        indemnify each Indemnified Party for Indemnified Amounts
                        arising out of or relating to:

                                (1)     the breach of any representation or
                                        warranty made by the Borrower or Drive
                                        (or any of their respective officers)
                                        under or in connection with this
                                        Agreement or the other Transaction
                                        Documents, any Servicer's Certificate,
                                        Borrowing Base Confirmation or any other
                                        information, report or certificate
                                        delivered by the Borrower or Servicer
                                        pursuant hereto or thereto, which shall
                                        have been false or incorrect in any
                                        material respect when made or deemed
                                        made, provided that a breach of a
                                        representation or warranty with respect
                                        to the eligibility of any Receivable
                                        will not result in liability hereunder
                                        once either (A) such Receivable is
                                        repurchased by Drive pursuant to Section
                                        8.19 or (B) such Receivable is no longer
                                        included in the Borrowing Base and the
                                        outstanding principal

                                     - 78 -
<PAGE>   84

                                        amount of Advances is less than or equal
                                        to the Borrowing Base;

                                (2)     the failure by the Borrower or Drive to
                                        comply in any material way with any
                                        applicable law, rule or regulation with
                                        respect to any Transferred Receivable or
                                        any Financed Vehicle, or the
                                        nonconformity of any Transferred
                                        Receivable with any such applicable law,
                                        rule or regulation;

                                (3)     any failure of Drive or an Affiliate of
                                        the Borrower, as Servicer, to perform
                                        its duties or obligations in accordance
                                        with the provisions of Article VIII or
                                        any provision contained in any
                                        Transaction Document;

                                (4)     any claim involving products liability
                                        that arises out of or relates to
                                        merchandise or services that are the
                                        subject of any Transferred Receivable or
                                        strict liability claim in connection
                                        with any Financed Vehicle related to a
                                        Transferred Receivable;

                                (5)     any tax or governmental fee or charge
                                        (but not including taxes upon or
                                        measured by net income), all interest
                                        and penalties thereon or with respect
                                        thereto, and all outofpocket costs and
                                        expenses, including the reasonable fees
                                        and expenses of counsel in defending
                                        against the same, which may arise by
                                        reason of the making, maintenance or
                                        funding, directly or indirectly, of any
                                        Advance, or any other interest in the
                                        Borrower Collateral;

                                (6)     the offering or effectuation of any
                                        Take-Out Securitization;

                                (7)     the use, ownership or operation, if any,
                                        by Drive or any Affiliate thereof of a
                                        Financed Vehicle;

                                (8)     negligence, misfeasance or bad faith of
                                        Drive in the performance of its duties
                                        under the Transaction Documents
                                        (including any violation of law); or

                                (9)     the commingling of the proceeds of
                                        Borrower Collateral at any time with
                                        other funds.

Indemnification under this Section 17.1 shall survive the termination of this
Agreement and shall include reasonable fees and expenses of counsel and expenses
of litigation. If Drive or the Borrower has made any indemnity payments pursuant
to this Section 17.1 and the recipient

                                     - 79 -
<PAGE>   85

thereafter collects any of such amounts from others, the recipient shall
promptly repay such amounts collected to such Person, without interest.

Notwithstanding the indemnity provisions contained in clauses (i) through (vii)
of this Sections 17.1, neither Drive nor the Borrower shall be required to
indemnify any Indemnified Party against any costs, expenses, losses, damages,
claims or liabilities to the extent the same shall have been (i) caused by the
misfeasance, bad faith or gross negligence (or ordinary negligence in the
handling of funds) of such party, or (ii) suffered by reason of uncollectible or
uncollected Receivables not caused by Drive's or the Borrower's negligence,
misfeasance or bad faith.

                b.      Contribution. If for any reason (other than the
                        exclusions (a) through (d) set forth in the first
                        paragraph of Section 17.1) the indemnification provided
                        above in Section 17.1 is unavailable to an Indemnified
                        Party or is insufficient to hold an Indemnified Party
                        harmless, then the Borrower and Drive, jointly and
                        severally, agree to contribute to the amount paid or
                        payable by such Indemnified Party as a result of such
                        loss, claim, damage or liability in such proportion as
                        is appropriate to reflect not only the relative benefits
                        received by such Indemnified Party, on the one hand, and
                        Drive, the Borrower and its Affiliates, on the other
                        hand, but also the relative fault of such Indemnified
                        Party, on the one hand, and Drive, the Borrower and its
                        Affiliates, on the other hand, as well as any other
                        relevant equitable considerations.

22.
       MISCELLANEOUS

                a.      No Waiver; Remedies. No failure on the part of any
                        Investor, the Agent, any Indemnified Party or any
                        Affected Person to exercise, and no delay in exercising,
                        any right, power or remedy hereunder shall operate as a
                        waiver thereof; nor shall any single or partial exercise
                        by any of them of any right, power or remedy hereunder
                        preclude any other or further exercise thereof, or the
                        exercise of any other right, power or remedy. The
                        remedies herein provided are cumulative and not
                        exclusive of any remedies provided by law. Without
                        limiting the foregoing, each Investor and Participant is
                        hereby authorized by the Borrower and Drive at any time
                        and from time to time, to the fullest extent permitted
                        by law, to set off and apply any and all deposits
                        (general or special, time or demand, provisional or
                        final) at any time held and other indebtedness at any
                        time owing by it to or for the credit or the account of
                        the Borrower or Drive (as the case may be) to the
                        amounts owed by the Borrower or Drive, respectively,
                        under this Agreement, to the Agent, any Affected Person,
                        any Indemnified Party or any Investor or their
                        respective successors and assigns.

                b.      Amendments, Waivers. This Agreement may not be amended,
                        supplemented or modified nor may any provision hereof be
                        waived except in accordance with the provisions of this
                        Section 18.2. With the written consent of the Required
                        Lenders, the Agent, the Borrower, the Servicer,

                                     - 80 -
<PAGE>   86

                        Drive, the Collateral Agent and the Custodian may, from
                        time to time, enter into written amendments,
                        supplements, waivers or modifications hereto for the
                        purpose of adding any provisions to this Agreement or
                        changing in any manner the rights of any party hereto or
                        waiving, on such terms and conditions as may be
                        specified in such instrument, any of the requirements of
                        this Agreement (which consent shall not be unreasonably
                        withheld if such amendment, supplement, waiver or
                        modification is accompanied by an Opinion of Counsel
                        that such amendment, supplement, waiver or modification
                        will not adversely affect in any material respect the
                        Required Lenders or the Agent); provided, however, that
                        no such amendment, supplement, waiver or modification
                        shall (i) reduce the amount of or extend the maturity of
                        any payment with respect to an Advance or reduce the
                        rate or extend the time of payment of Interest thereon,
                        or reduce or alter the timing of any other amount
                        payable to any Lender hereunder, in each case without
                        the consent of each Lender affected thereby or (ii)
                        amend, modify or waive any provision of this Section
                        18.2 or 18.12, or reduce the percentage specified in the
                        definition of Required Lenders, in each case without the
                        written consent of all Lenders. Any waiver of any
                        provision of this Agreement shall be limited to the
                        provisions specifically set forth therein for the period
                        of time set forth therein and shall not be construed to
                        be a waiver of any other provision of this Agreement.

                c.      Notices, Etc. All notices and other communications
                        provided for hereunder shall, unless otherwise stated
                        herein, be in writing (including facsimile
                        communication) and shall be personally delivered or sent
                        by certified mail, postage prepaid, or by facsimile, to
                        the intended party at the address or facsimile number of
                        such party set forth under its name on the signature
                        pages hereof or at such other address or facsimile
                        number as shall be designated by such party in a written
                        notice to the other parties hereto. All such notices and
                        communications shall be effective, (a) if personally
                        delivered, when received, (b) if sent by certified mail,
                        three Business Days after having been deposited in the
                        mail, postage prepaid, (c) if sent by overnight courier,
                        one Business Day after having been given to such
                        courier, and (d) if transmitted by facsimile, when sent,
                        receipt confirmed by telephone or electronic means,
                        except that notices and communications pursuant to
                        Section 2.2 shall not be effective until received.

                d.      Costs, Expenses and Taxes. (a) In addition to the rights
                        of indemnification granted under Section 17.1, the
                        Borrower or Drive on behalf of the Borrower agrees to
                        pay on demand all reasonable costs and expenses of the
                        Agent in connection with the preparation, execution,
                        delivery, syndication and administration of this
                        Agreement and the other documents and agreements to be
                        delivered hereunder or with respect hereto, and Drive
                        further agrees to pay all reasonable costs and expenses
                        of the Agent in connection with any amendments, waivers
                        or consents executed in connection with this Agreement,
                        including, without limitation,

                                     - 81 -
<PAGE>   87

                        the reasonable fees and out-of-pocket expenses of
                        counsel for the Agent with respect thereto and with
                        respect to advising the Agent as to its rights and
                        remedies under this Agreement, and to pay all costs and
                        expenses, if any (including reasonable counsel fees and
                        expenses), of the Agent, the Lenders, the Investors, the
                        Collateral Agent and their respective Affiliates, in
                        connection with the enforcement against Drive or the
                        Borrower of this Agreement or any of the other
                        Transaction Documents and the other documents and
                        agreements to be delivered hereunder or with respect
                        hereto.

        (b)     In addition, Drive shall pay any and all stamp, personal
property, transfer and other taxes and fees payable in connection with the
execution, delivery, filing and recording of this Agreement, the Note,
applicable UCC financing statements or the other documents or agreements to be
delivered hereunder, and the pledge of the Borrower Collateral, and agrees to
save each Indemnified Party harmless from and against any liabilities with
respect to or resulting from any delay in paying or omission to pay such taxes
and fees.

                e.      Binding Effect; Survival. This Agreement shall be
                        binding upon and inure to the benefit of the Borrower,
                        the Investors, the Collateral Agent, the Custodian, the
                        Servicer, Drive, the Agent and their respective
                        successors and assigns, and the provisions of Section
                        5.1(b), Article VI, Section 12.1 and Article XVII shall
                        inure to the benefit of the Affected Persons and the
                        Indemnified Parties, respectively, and their respective
                        successors and assigns; provided, however, nothing in
                        the foregoing shall be deemed to authorize any
                        assignment not permitted by Article XVI. This Agreement
                        shall create and constitute the continuing obligations
                        of the parties hereto in accordance with its terms, and
                        shall remain in full force and effect until such time,
                        after the Facility Termination Date when all Obligations
                        have been finally and fully paid and performed. The
                        rights and remedies with respect to any breach of any
                        representation and warranty made by the Borrower
                        pursuant to Article X and the indemnification and
                        payment provisions of Article VI, Section 12.1 and
                        Article XVII and the provisions of Section 18.10,
                        Section 18.12 and Section 18.13 shall be continuing and
                        shall survive any termination of this Agreement and any
                        termination of Drive's rights to act as Servicer
                        hereunder or under any other Transaction Document.

                f.      Captions and Cross References. The various captions
                        (including, without limitation, the table of contents)
                        in this Agreement are provided solely for convenience of
                        reference and shall not affect the meaning or
                        interpretation of any provision of this Agreement.
                        Unless otherwise indicated, references in this Agreement
                        to any Section, Schedule or Exhibit are to such Section
                        of or Schedule or Exhibit to this Agreement, as the case
                        may be, and references in any Section, subsection, or
                        clause to any subsection, clause or subclause are to
                        such subsection, clause or subclause of such Section,
                        subsection or clause.

                                     - 82 -
<PAGE>   88

                g.      Severability. Any provision of this Agreement which 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 of this Agreement
                        or affecting the validity or enforceability of such
                        provision in any other jurisdiction.

                h.      GOVERNING LAW. THIS AGREEMENT AND THE NOTE SHALL BE A
                        CONTRACT MADE UNDER AND GOVERNED BY THE INTERNAL LAW OF
                        THE STATE OF NEW YORK WITHOUT REGARD TO ANY OTHERWISE
                        APPLICABLE CONFLICT OF LAW PRINCIPLES (OTHER THAN
                        SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW).

                i.      Counterparts. This Agreement may be executed by the
                        parties hereto in several counterparts, each of which
                        shall be deemed to be an original but all of which shall
                        constitute together but one and the same agreement.

                j.      WAIVER OF JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY
                        KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVES ANY
                        RIGHTS IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY
                        LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER, OR IN
                        CONNECTION WITH, THIS AGREEMENT OR ANY OTHER TRANSACTION
                        DOCUMENT, OR ANY COURSE OF CONDUCT, COURSE OF DEALING,
                        STATEMENTS (WHETHER VERBAL OR WRITTEN) OR ACTIONS OF THE
                        BORROWER, THE AGENT, THE COLLATERAL AGENT, THE INVESTORS
                        OR ANY OTHER AFFECTED PERSON. EACH PARTY HERETO
                        ACKNOWLEDGES AND AGREES THAT IT HAS RECEIVED FULL AND
                        SUFFICIENT CONSIDERATION FOR THIS PROVISION (AND EACH
                        OTHER PROVISION OF EACH OTHER TRANSACTION DOCUMENT TO
                        WHICH IT IS A PARTY) AND THAT THIS PROVISION IS A
                        MATERIAL INDUCEMENT FOR ITS ENTERING INTO THIS AGREEMENT
                        AND EACH SUCH OTHER TRANSACTION DOCUMENT.

                k.      No Proceedings.

                Each of IFA, Drive, the Custodian, the Servicer, the Collateral
        Agent, each Investor and the Agent hereby agrees that it will not
        institute against the Borrower, or join any other Person in instituting
        against the Borrower, any insolvency proceeding (namely, any proceeding
        of the type referred to in the definition of Insolvency Event) so long
        as any Advances or other amounts due from the Borrower hereunder shall
        be outstanding or there shall not have elapsed one year plus one day
        since the last day on which any such Advances or other amounts shall be
        outstanding. The foregoing shall not limit such Person's right to file
        any claim in or otherwise take any action with respect to any insolvency
        proceeding that was instituted by any Person other than such Person.

                                     - 83 -
<PAGE>   89

                l.      Limited Recourse to the Lenders. No recourse under any
                        obligation, covenant or agreement of a Lender contained
                        in this Agreement shall be had against any incorporator,
                        stockholder, officer, director, member, manager,
                        employee or agent of any Lender or any of its Affiliates
                        (solely by virtue of such capacity) by the enforcement
                        of any assessment or by any legal or equitable
                        proceeding, by virtue of any statute or otherwise; it
                        being expressly agreed and understood that this
                        Agreement is solely a corporate obligation of each
                        Lender, and that no personal liability whatever shall
                        attach to or be incurred by any incorporator,
                        stockholder, officer, director, member, manager,
                        employee or agent of any Lender or any of their
                        Affiliates (solely by virtue of such capacity) or any of
                        them under or by reason of any of the obligations,
                        covenants or agreements of a Lender contained in this
                        Agreement, or implied therefrom, and that any and all
                        personal liability for breaches by a Lender of any of
                        such obligations, covenants or agreements, either at
                        common law or at equity, or by statute, rule or
                        regulation, of every such incorporator, stockholder,
                        officer, director, member, manager, employee or agent is
                        hereby expressly waived as a condition of and in
                        consideration for the execution of this Agreement;
                        provided that the foregoing shall not relieve any such
                        Person from any liability it might otherwise have as a
                        result of their willful misconduct, gross negligence or
                        of fraudulent actions taken or fraudulent omissions made
                        by them.

                m.      Collateral Agent. Each Lender and each Investor by its
                        acceptance of any interest in any Note or Advance or in
                        a Lender's obligation to make Advances hereunder and the
                        Agent designate and appoint IFA Incorporated, to act as
                        Collateral Agent hereunder and under the Security
                        Agreement. IFA Incorporated, by its execution hereof,
                        accepts and agrees to such designation and appointment
                        and agrees to perform its obligations hereunder and
                        under the Security Agreement in accordance with the
                        terms thereof and for the benefit of the Agent, the
                        Lenders and other Secured Parties. In furtherance of the
                        foregoing, each Lender authorizes the Agent to enter
                        into the Security Agreement and to appoint the
                        Collateral Agent to act on behalf of, and as agent for,
                        such Lender and the Agent hereunder and under the
                        Security Agreement and agrees to be bound by Section 8
                        of such agreement.

                n.      Custodian. Wells Fargo Bank Minnesota, National
                        Association accepts and agrees to its designation and
                        appointment as Custodian under the Custodian Agreement
                        and agrees to perform its obligations under such
                        agreement in accordance with the terms thereof and for
                        the benefit of the Borrower and the Secured Parties.

                o.      Successors and Assigns. This Agreement shall inure to
                        the benefit of and be binding upon the parties hereto
                        and their respective successors and permitted assigns.

                                     - 84 -
<PAGE>   90

                p.      ENTIRE AGREEMENT. THIS AGREEMENT AND THE OTHER
                        TRANSACTION DOCUMENTS EXECUTED AND DELIVERED HEREWITH
                        REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES HERETO
                        AND THERETO AND MAY NOT BE CONTRADICTED BY EVIDENCE OF
                        PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF
                        THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS
                        AMONG THE PARTIES.

                q.      Confidentiality. (a) The Borrower, the Servicer, and
                        Drive shall hold in confidence, and not disclose to any
                        Person, the identity of any Lender or the terms of any
                        fees payable in connection with this Agreement except
                        they may disclose such information (i) to their
                        officers, directors, employees, agents, counsel,
                        accountants, auditors, advisors or representatives, (ii)
                        with the consent of such Lender and Agent, or (iii) to
                        the extent the Borrower, Drive or the Servicer or any
                        Affiliate of any of them should be required by any law
                        or regulation applicable to it or requested by any
                        Official Body to disclose such information; provided,
                        that, in the case of clause (iii), the Borrower, Drive
                        or the Servicer, as the case may be, will use all
                        reasonable efforts to maintain confidentiality and will
                        (unless otherwise prohibited by law) notify the Agent of
                        its intention to make any such disclosure prior to
                        making such disclosure.

        (b)     The Agent and each Lender, severally and with respect to itself
only, covenants and agrees that any information obtained by the Agent or such
Lender pursuant to this Agreement shall be held in confidence (it being
understood that documents provided to the Agent hereunder may in all cases be
distributed by the Agent to the Lenders) except that the Agent or such Lender
may disclose such information (i) to its officers, directors, employees, agents,
counsel, accountants, auditors, advisors or representatives, (ii) to the extent
such information has become available to the public other than as a result of a
disclosure by or through the Agent or such Lender, (iii) to the extent such
information was available to the Agent or such Lender on a nonconfidential basis
prior to its disclosure to the Agent or such Lender hereunder, (iv) with the
consent of Drive, (v) to the extent permitted by Article XVI, or (vi) to the
extent the Agent or such Lender should be (A) required in connection with any
legal or regulatory proceeding or (B) requested by any Official Body to disclose
such information; provided, that, in the case of clause (vi) above, the Agent or
such Lender, as applicable, will use all reasonable efforts to maintain
confidentiality and, in the case of clause (vi)(A) above, will (unless otherwise
prohibited by law) notify Drive of its intention to make any such disclosure
prior to making any such disclosure.

                      [signature pages begin on next page]

                                     - 85 -
<PAGE>   91

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

                    DRIVE BOS LP
                    By:  Drive BOS GP LLC, its general partner

                    By:
                       -----------------------------------------------
                           Name:
                           Title:
                           Attention: Vice President-Finance
                           Facsimile No.:
                    DRIVE FINANCIAL SERVICES LP
                    By:  Drive GP LLC, its general partner

                    By:
                       -----------------------------------------------
                           Name:
                           Title:
                           Attention: Vice President-Finance
                           Facsimile No.:
                    IFA INCORPORATED, as Agent and Collateral
              Agent

                    By:
                       -----------------------------------------------
                           Name:
                           Title:

                    By:
                       -----------------------------------------------
                           Name:
                           Title:
                           565 Fifth Avenue
                           New York, New York 10017
                           Attention:
                           Facsimile No.:   212-557-9460

                                      - 1 -

<PAGE>   92

                    WELLS FARGO BANK MINNESOTA
             NATIONAL ASSOCIATION,
                            as Custodian

                    By:
                       -----------------------------------------------
                    Name:
                           -------------------------------------------
                    Title:
                            ------------------------------------------
                    [address]
                    Attention: Corporate Trust Services - Asset
                                    Backed Administration
                    Facsimile No.:

                                      - 2 -

<PAGE>   93

                                            EXHIBIT A
                            [SUBJECT TO SUBSTITUTION BY BORROWER]
IFA Incorporated,
  as Agent
565 Fifth Avenue
New York, NY 10017
Attention:
Fax #:  212-557-9460
Phone #:  212-450-____
[Name of Custodian]

-------------
-------------
-------------
Attention: Corporate Trust Services -
           Asset Backed Administration
Fax #:_________
Phone #: -
RE:     Advance Request: $__________

                                  [______________________ ]
Gentlemen and Ladies:

        This Advance Request is delivered to you pursuant to Section 2.2 of the
Receivables Financing Agreement, dated as of August 18, 2000 (together with all
amendments, if any, from time to time made thereto, the "Receivables Financing
Agreement"), among Drive BOS LP (the "Borrower"), Drive Financial Services LP,
Wells Fargo Bank Minnesota, National Association, the Lenders parties thereto
and IFA Incorporated, as Agent (in such capacity, the "Agent") and as Collateral
Agent (in such capacity, the "Collateral Agent") and the other parties thereto.
Unless otherwise defined herein or the context otherwise requires, capitalized
terms used herein have the meanings provided in the Receivables Financing
Agreement.

        The Borrower hereby requests that an Advance be made in the aggregate
principal amount of $_____ on ________, 20 [having a Interest Period _____days].

        Please wire xxxxxxxxx to the Borrower at the Borrower's direction.
Wiring instructions are included at the end of this letter.

        The Borrower hereby acknowledges that, pursuant to Section 2.4 of the
Receivables Financing Agreement, each of the delivery of this Advance Request
and the acceptance by the Borrower of the proceeds of the Advances requested
hereby constitutes a representation and warranty by the Borrower that, on the
date of such Advances, and before and after giving effect thereto and to the
application of the proceeds therefrom in accordance with the Transaction
Documents, all applicable statements set forth in Section 2.4 are true and
correct in all material respects and that all conditions precedent to the
Advance set forth in Section 7.3 of the Receivables Financing Agreement have
been satisfied.

        The Borrower agrees that if prior to the time of the Advance requested
hereby any matter certified to herein by it will not be true and correct at such
time as if then made, it will immediately so notify the Agent. Except to the
extent, if any, that prior to the time of the

                                      - 1 -
<PAGE>   94

Advance requested hereby the Agent shall receive written notice to the contrary
from the Borrower, each matter certified to herein shall be deemed once again to
be certified as true and correct at the date of such Advance as if then made.

        The Borrower has caused this Advance Request to be executed and
delivered, and the certification and warranties contained herein to be made, by
its duly authorized officer this _____ day of ______, 20__.

                             DRIVE BOS LP
                             By:  Drive BOS GP LLC, its general partner

                             By:
                                  ------------------------------
                                 Name:
                                 Title:

                                      - 2 -

<PAGE>   95

Wire Instructions:
-----------------
-----------
ABA ____________
Account Name:
Account Number:
For further credit to account
Ref:

                                      - 3 -

<PAGE>   96

                                                                       EXHIBIT B

                                      NOTE

        THIS NOTE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED (THE "ACT"), OR ANY STATE SECURITIES LAW, AND MAY NOT BE
DIRECTLY OR INDIRECTLY OFFERED OR SOLD OR OTHERWISE DISPOSED OF BY THE OWNER
HEREOF UNLESS SUCH TRANSACTION IS EXEMPT FROM REGISTRATION UNDER THE ACT AND
SUCH STATE LAWS, AND WILL NOT BE A "PROHIBITED TRANSACTION" UNDER THE EMPLOYEE
RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED ("ERISA"). BY ACCEPTANCE OF
THIS NOTE, THE HOLDER AGREES TO BE BOUND BY ALL THE TERMS OF THE RECEIVABLES
FINANCING AGREEMENT.

$______________                                               _________ __, 2000

        FOR VALUE RECEIVED, the undersigned, DRIVE BOS LP, a Delaware limited
partnership (the "Borrower"), promises to pay to the order of
_______________________________, on the Facility Termination Date the principal
sum of _________________________ _______ ($___________) or, if less, the
aggregate unpaid principal amount of all Advances shown on the schedule attached
hereto (and any continuation thereof) and/or in the records of Agent made by the
Investors pursuant to that certain Receivables Financing Agreement, dated as of
_________ __, 2000 (together with all amendments and other modifications, if
any, from time to time thereafter made thereto, the "Receivables Financing
Agreement"), among the Borrower, Drive Financial Services LP, Wells Fargo Bank
Minnesota, National Association, the Lenders parties thereto and IFA
Incorporated, as Agent and Collateral Agent. Unless otherwise defined,
capitalized terms used herein have the meanings provided in the Receivables
Financing Agreement.

        The Borrower also promises to pay Interest on the unpaid principal
amount hereof from time to time outstanding from the date hereof until maturity
(whether by acceleration or otherwise) and, after maturity, until paid, at the
rates per annum and on the dates specified in the Receivables Financing
Agreement.

        Payments of both principal and Interest are to be made in lawful money
of the United States of America in same day or immediately available funds to
the account designated by the Agent pursuant to the Receivables Financing
Agreement.

        This Note is the Note referred to in, and evidences indebtedness
incurred under, the Receivables Financing Agreement, and the holder hereof is
entitled to the benefits of the Receivables Financing Agreement, to which
reference is made for a description of the security for this Note and for a
statement of the terms and conditions on which the Borrower is permitted and
required to make prepayments and repayments of principal of the indebtedness
evidenced by this Note and on which such indebtedness may be declared to be
immediately due and payable.

                                      - 1 -
<PAGE>   97

        All parties hereto, whether as makers, endorsers, or otherwise,
severally waive presentment for payment, demand, protest and notice of dishonor.

        As provided in the Receivables Financing Agreement and subject to
certain limitations therein set forth, the transfer of this Note is registrable
in the Note Register, upon surrender of this Note for registration of transfer
at the office or agency of the Agent in The City of New York, duly endorsed by,
or accompanied by a written instrument of transfer in the form satisfactory to
the Note Registrar duly executed by, the holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Notes, of authorized
denominations and for the same aggregate principal amount, will be issued to the
designated transferee or transferees.

        The Notes are issuable only in registered form without coupons in
minimum denominations of $100,000. As provided in the Agreement and subject to
certain limitations therein set forth, Notes are exchangeable for a like
aggregate principal amount of Notes of a different authorized denomination, as
requested by the holder surrendering the same.

        No service charge shall be made for any such registration of transfer or
exchange, but the Borrower may require payment of a sum sufficient to cover any
tax or other governmental charge payable in connection therewith.

        The Borrower, and any agent of the Borrower, the Agent or the Collateral
Agent may treat the Person in whose name this Note is registered as the owner
hereof for all purposes, whether or not this Note may be overdue, and neither
the Borrower nor any such agent shall be affected by notice to the contrary.

        The holder hereof hereby agrees, and any assignee of such holder, by
accepting such assignment, shall be deemed to have agreed, that it will not
institute against the Borrower, or join any other Person in instituting against
the Borrower, any insolvency proceeding (namely, any proceeding of the type
referred to in the definition of Insolvency Event) so long as any Advances or
other amounts due from the Borrower hereunder shall be outstanding or there
shall not have elapsed one year plus one day since the last day on which any
such Advances or other amounts shall be outstanding. The foregoing shall not
limit such Person's right to file any claim in or otherwise take any action with
respect to any insolvency proceeding that was instituted by any Person other
than such Person. The agreement set forth in this paragraph shall survive
payment of this Note.

                                      - 2 -
<PAGE>   98

        THIS NOTE SHALL BE DEEMED TO BE A CONTRACT MADE UNDER AND GOVERNED BY
THE INTERNAL LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO ANY OTHERWISE
APPLICABLE PRINCIPLES OF CONFLICTS OF LAWS.

                                       DRIVE BOS LP
                                       By: Drive BOS GP LLC, its general partner
                                       By:
                                          --------------------------------------
                                          Name:
                                          Title:

                Personally appeared before me ________________________ [name of
notary], in _____________________[county], ____________________ [state], the
above-named _______________________ [name of person executing], known or proved
to me to be the same person who executed the foregoing instrument and to be the
_______________________ [title] of [     ] and acknowledged to me that he
executed the same as his free act and deed and the free act and deed of [     ].

                Subscribed and sworn before me this ____ day of _________, 2000.

                                           NOTARY PUBLIC
                                           COUNTY OF __________________
                                           STATE OF ___________________
                                           My commission expires the ____ day of
                                           ____________, 2000.

                                      - 3 -
<PAGE>   99

                             Form of Assignment Form
                                 ASSIGNMENT FORM

        If you the holder want to assign this Note, fill in the form below and
have your signature guaranteed:

I or we assign and transfer this Note to:

                  (Print or type name, address and zip code and
                  social security or tax ID number of assignee)

and irrevocably appoint ___________________________, agent to transfer this Note
on the books of the Borrower. The agent may substitute another to act for him.

Dated:                                Signed:
       --------------------------             ----------------------------------

                                            (sign exactly as the name appears on
                                            the other side of this Note)

Signature Guarantee ____________________________________________________________
Important Notice: When you sign your name to this Assignment Form without
filling in the name of your "Assignee" or "Attorney", this Note becomes fully
negotiable, similar to a check endorsed in blank. Therefore, to safeguard a
signed Note, it is recommended that you fill in the name of the new owner in the
"Assignee" blank. Alternatively, instead of using this Assignment Form, you may
sign a separate "power of attorney" form and then mail the unsigned Note and the
signed "power of attorney" in separate envelopes. For added protection, use
certified or registered mail for a Note.

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------
Schedule attached to Note Dated _________ __, 2000 of [      ]
payable to the order of ______________________________________

--------------------------------------------------------------------------------
        Date of                 Amount of                Amount of
        Advance                  Advance                 Repayment
        -------                  -------                 ---------
--------------------------------------------------------------------------------
<S>                             <C>                      <C>
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
</TABLE>

                                      - 4 -
<PAGE>   100

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------
Schedule attached to Note Dated _________ __, 2000 of [           ]
payable to the order of ______________________________________

--------------------------------------------------------------------------------
        Date of                 Amount of                Amount of
        Advance                  Advance                 Repayment
        -------                  -------                 ---------
--------------------------------------------------------------------------------
<S>                             <C>                      <C>
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
</TABLE>

                                      - 5 -
<PAGE>   101

                                                                       EXHIBIT C

                    REPRESENTATIONS AND WARRANTIES OF SELLER
                           WITH RESPECT TO RECEIVABLES

                1. Contract Origination Date. Each Receivable has a contract
                origination date on or before the applicable Cutoff Date.

                2. Term of Receivables. Each Receivable has an original term of
                at least 18 months and not more than 72 months and had a
                remaining term as of the Cutoff Date relating to such Receivable
                of at least 12 months and not more than 72 months.

                3. Characteristics of Receivables. (A) Each Receivable (1) is
                denominated in U.S. dollars and has been originated in the
                United States of America by Drive or by a Dealer for the retail
                sale of a Financed Vehicle in the ordinary course of such
                Dealer's business in each case in accordance in all material
                respects with Drive's credit approval guidelines, and, to the
                best knowledge of Borrower, such Dealer had all necessary
                licenses and permits to originate Receivables in the state where
                such Dealer was located, (2) was fully and properly executed by
                the parties thereto, (3) if originated by a Dealer, was
                purchased by Drive from such Dealer under an existing Dealer
                Agreement and Dealer Assignment and was purchased by the
                Borrower from Drive pursuant to the Receivables Purchase
                Agreement, (4) contains customary and enforceable provisions
                such that the rights and remedies of the holder or assignee
                thereof shall be adequate for realization against the collateral
                of the benefits of the security, (5) provides for level monthly
                payments that fully amortize the Amount Financed over the
                original term (except for the last payment, which may be greater
                or smaller than the level payment),

                                      - 1 -
<PAGE>   102

                provided payments are made on the applicable due dates, (6) as
                of the Cutoff Date with respect thereto, has an Annual
                Percentage Rate of not less than 12.5%, (7) provides for, if
                such contract is prepaid, a prepayment that fully pays the
                Principal Balance and accrued interest at the Annual Percentage
                Rate and (8) is a Simple Interest Receivable or a Pre-Computed
                Receivable; and (B) as of the Cutoff Date with respect thereto,
                no Receivable is a Liquidated Receivable or a Defaulted
                Receivable.

                4. Principal Balance; Scheduled Payments. Each Receivable has an
                outstanding principal balance as of the applicable Cutoff Date,
                of not less than $1,000 and not more than $40,000.

                5. Characteristics of Obligors. No Obligor on any Receivable (A)
                is the subject of any federal, state or other bankruptcy,
                insolvency or similar proceeding pending on the date of
                application that is not discharged, (B) is currently the subject
                of a judgment in favor of Drive, and (C) has had its related
                Financed Vehicle repossessed (or subject to repossession).

                6. Location of Receivable Files. There exists a complete
                Receivable File with respect to each Receivable that will have
                been delivered to the Custodian on or prior to the Initial
                Advance Date with respect to the Initial Receivables and on or
                prior to the applicable Subsequent Purchase Date with respect to
                Subsequent Receivables and any exceptions set forth in the
                Custodian's certificate will be corrected within 30 days.

                7. Schedule of Receivables. The information with respect to each
                Receivable set forth in the Schedule of Receivables has been
                produced from the Electronic Ledger and is true and correct in
                all material respects as of the close of business on each Cutoff
                Date.

                8. Adverse Selection. No selection procedures having a material
                adverse effect on any of the Secured Parties have been utilized
                in selecting any Receivable from those receivables owned by
                Drive that met the selection criteria contained in this
                Agreement. No advances or extensions were made to qualify any
                Receivable under the eligibility criteria set forth in this
                Exhibit C.

                9. Compliance with Law. No Receivable nor the sale of the
                related Financed Vehicle, at the time the related Receivable was
                originated or made, contravened in any material respect, and, at
                the date of transfer thereof contravenes in any material
                respect, any requirements of applicable federal, state and local
                laws, and regulations thereunder including, without limitation,
                usury laws, the Federal Truth-in-Lending Act, the Equal Credit
                Opportunity Act, the Fair Credit Reporting Act, the Fair Debt
                Collection Practices Act, the Federal Trade Commission Act, the
                Magnuson-Moss Warranty Act, the Federal Reserve Board's
                Regulations B and Z, the Soldiers' and Sailors' Civil Relief Act
                of 1940, each applicable state Motor Vehicle Retail Installment
                Sales Act, and state adaptations of the National Consumer Act
                and of the

                                      -2-
<PAGE>   103

                Uniform Consumer Credit Code, and other consumer credit laws and
                equal credit opportunity and disclosure laws.

                10. No Government Obligor. None of the Receivables is due from
                the United States of America or any state or from any other
                Official Body.

                11. Security Interest in Financed Vehicle. Each Receivable has
                created, or will create when all required procedures are
                completed by the Servicer, a valid, subsisting and enforceable
                first priority perfected security interest in the related
                Financed Vehicle in favor of Drive as secured party, and such
                security interest is, or will be upon the completion of all
                required procedures by the Servicer, prior to all other liens
                upon and security interests in such Financed Vehicle that now
                exist or may hereafter arise or be created (except, as to
                priority, for any tax liens or mechanics' liens that may arise
                after the applicable Purchase Date).

                12. Binding Obligation; Receivables in Force. Each Receivable is
                a binding obligation of its related Obligor and no Receivable
                has been satisfied, subordinated or rescinded, nor has any
                Financed Vehicle been released from the lien granted by the
                related Receivable in whole or in part.

                13. No Amendments. No Receivable has been amended, altered or
                modified; no provision of any Receivable has been waived, other
                than any provisions requiring vendor single interest insurance
                or late payment fees and those waivers, alterations or
                modifications specifically permitted pursuant to Section 8.2 of
                this Agreement. No Receivable has been modified as a result of
                application of the Soldiers' and Sailors' Civil Relief Act of
                1940, as amended.

                14. No Defenses. No right of rescission, setoff, counterclaim or
                defense exists with respect to any Receivable. The operation of
                the terms of any Receivable or the exercise of any right
                thereunder will not render such Receivable unenforceable in
                whole or in part or subject to any such right of rescission,
                setoff, counterclaim or defense.

                15. No Liens. There are no liens or claims existing or that have
                been filed for work, labor, storage or materials relating to any
                of the related Financed Vehicles that are liens prior to the
                security interest in the related Financed Vehicles granted by
                the related Receivables.

                16. No Fraud or Misrepresentation. Each Receivable was
                originated by a Dealer and was sold by the Dealer to Drive
                without fraud or misrepresentation on the part of such Dealer in
                either case.

                17. No Default; Repossession. Except for payment delinquencies
                continuing for a period of less than 31 days as of the
                applicable Cutoff Date, no default, breach, violation or event
                permitting acceleration under the terms of any Receivable has
                occurred; no continuing condition that with notice or the lapse
                of time would constitute a default, breach, violation, or event
                permitting acceleration under the terms of any Receivable has
                arisen; the Borrower shall not waive and has not waived any of
                the foregoing; and no related Financed Vehicle has been
                repossessed.

                                      -3-
<PAGE>   104

                18. Insurance; Other. Drive, in accordance with its customary
                procedures, has determined (A) that each Obligor, at the time of
                origination, had obtained or agreed to obtain insurance covering
                the Financed Vehicle as of the execution of the Receivable
                insuring against loss and damage due to fire, theft,
                transportation, collision and other risks generally covered by
                comprehensive and collision coverage (i) in an amount at least
                equal to the lesser of (x) its maximum insurable value or (y)
                the principal amount due from the Obligor under the related
                Receivable and (ii) naming Drive as loss payee, (B) each
                Receivable that finances the cost of premiums for credit life
                and accident or health insurance is covered by an insurance
                policy and certificate of insurance naming Drive as creditor
                under each such insurance policy and certificate of insurance,
                and (C) as to each Receivable that includes financing for the
                cost of a service contract, the respective Financed Vehicle that
                secures the Receivable is covered by a service contract. No
                Receivable has force-placed insurance.

                19. Title. No Receivable has been sold, transferred, assigned or
                pledged by Drive to any Person other than the Borrower or any
                such pledge that has been released on or prior to the Initial
                Advance Date with respect to the Initial Receivables or the
                applicable Subsequent Purchase Date with respect to the
                Subsequent Receivables. The Borrower has good and marketable
                title to each Receivable, and is the sole owner thereof, free
                and clear of all Liens, and the transfer to the Borrower has
                been perfected under the UCC. No Dealer has a participation in,
                or other right to receive, proceeds of any Receivable. The
                Borrower has not taken any action to convey any right to any
                Person that would result in such Person having a right to
                payments received under the related Insurance Policies or the
                related Dealer Agreements or Dealer Assignments or to payments
                due under such Receivables.

                20. Marking of Receivables. On the Initial Advance Date and each
                Subsequent Purchase Date, Drive or the Borrower will have caused
                the portions of the Electronic Ledger relating to the
                Receivables to be clearly and unambiguously marked to show that
                the Receivables have been sold by Drive to the Borrower in
                accordance with the terms of the Receivables Purchase Agreement
                and pledged to the Collateral Agent under the Security
                Agreement.

                21. Computer Tape. The Computer Tape made available by the
                Borrower to the Collateral Agent on the Initial Advance Date was
                complete and accurate in all material respects as of the Initial
                Cutoff Date and includes a description of the same Receivables
                that are described in the Schedule of Receivables.

                22. Lawful Assignment. No Receivable has been originated in, or
                is subject to the laws of, any jurisdiction under which the
                sale, contribution, transfer and assignment of such Receivable
                under this Agreement shall be unlawful, void or voidable. The
                Borrower has not entered into any agreement with any account
                debtor that prohibits,

                                      -4-
<PAGE>   105

                restricts or conditions the assignment of any portion of the
                Receivables.

                23. All Filings Made. All filings (including, without
                limitation, UCC filings) necessary in any jurisdiction to give
                the Collateral Agent a first priority perfected ownership
                interest in the Receivables have been made.

                24. One Original. There is only one original executed copy of
                each Receivable.

                25. Valid and Binding Obligation of Obligor. Each Receivable is
                the legal, valid and binding obligation of the Obligor
                thereunder and is enforceable in accordance with its terms,
                except only as such enforcement may be limited by bankruptcy,
                insolvency or similar laws affecting the enforcement of
                creditors' rights generally; all parties to such contract had
                full legal capacity to execute and deliver such contract and all
                other documents related thereto and to grant the security
                interest purported to be granted thereby.

                26. Title Documents. (A) If any Financed Vehicle was originated
                in a state in which notation of security interest on the title
                document is required or permitted to perfect such security
                interest, the title document for such Financed Vehicle shows, or
                if a new or replacement title document is being applied for with
                respect to such Financed Vehicle, the title document will be
                received within [180] days and will show, Drive named as the
                original secured party under the related Receivables as the
                Holder of a first priority security interest in such Financed
                Vehicle, and (B) if any Financed Vehicle was originated in a
                state in which the filing of a financing statement under the UCC
                is required to perfect a security interest in motor vehicles,
                such filings or recordings have been duly made and show Drive
                named as the original secured party under the related
                Receivable, and in either case, no further action is required
                under the UCC or any titling statute or act to continue the
                perfected status of the first priority security interest in the
                Financed Vehicle against creditors of and transferees from the
                original Obligor.

                27. Chattel Paper. Each Receivable constitutes "chattel paper"
                under the UCC.

                28. Tax Liens. There is no Lien against the related Financed
                Vehicles for delinquent taxes.

                                      -5-
<PAGE>   106

                                                                       EXHIBIT D

                       FORM OF BORROWING BASE CERTIFICATE

                                      -6-
<PAGE>   107

                                                                       EXHIBIT E

                         FORM OF SERVICER'S CERTIFICATE

[TO BE PROVIDED-- TO BE IN FORM AND SUBSTANCE SATISFACTORY TO THE AGENT AND
DRIVE]

                                      -7-

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