Document:

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                                                                    EXHIBIT 10.1

                                 LOAN AGREEMENT

                            DATED AS OF JULY 2, 2001

                                      AMONG

                    CHOICEPOINT FINANCIAL INC., AS BORROWER,

                     CHOICEPOINT INC., AS INITIAL SERVICER,

                  THREE PILLARS FUNDING CORPORATION, AS LENDER,

                                       AND

           SUNTRUST EQUITABLE SECURITIES CORPORATION, AS ADMINISTRATOR
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                                TABLE OF CONTENTS

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<S>           <C>                                                                                                   <C>
ARTICLE I.    DEFINITIONS.......................................................................................      1

Section 1.1      Defined Terms...................................................................................     1
Section 1.2      Other Definitional Provisions...................................................................    19
Section 1.3      Other Terms.....................................................................................    20
Section 1.4      Computation of Time Periods.....................................................................    20

ARTICLE II.   THE LENDER'S COMMITMENT, BORROWING PROCEDURES AND LENDER NOTE......................................    20

Section 2.1      Lender's Commitment.............................................................................    20
Section 2.2      Borrowing Procedures............................................................................    20
Section 2.3      Funding.........................................................................................    20
Section 2.4      Representation and Warranty.....................................................................    21
Section 2.5      Extension of Lender's Commitment................................................................    21
Section 2.6      Voluntary Termination of Lender's Commitment; Reduction of Facility Limit.......................    21
Section 2.7      Note............................................................................................    22

ARTICLE III.  INTEREST, FEES, ETC.................................................................................   22

Section 3.1      Interest Rates..................................................................................    22
Section 3.2      Interest Payment Dates..........................................................................    23
Section 3.3      Interest Allocations............................................................................    23
Section 3.4      Fees............................................................................................    23
Section 3.5      Computation of Interest and Fees................................................................    23

ARTICLE IV.   REPAYMENTS AND PREPAYMENTS; DISTRIBUTION OF COLLECTIONS..............................................  24

Section 4.1      Repayments and Prepayments......................................................................    24
Section 4.2      Application of Collections......................................................................    24
Section 4.3      Application of Certain Payments.................................................................    25
Section 4.4      Due Date Extension..............................................................................    26
Section 4.5      Making of Payments..............................................................................    26

ARTICLE V.    SECURITY INTEREST..................................................................................    26

Section 5.1      Grant of Security...............................................................................    26
Section 5.2      Administrator Appointed Attorney-in-Fact........................................................    27
Section 5.3      Administrator May Perform.......................................................................    28
Section 5.4      Release of Collateral...........................................................................    28
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<S>           <C>                                                                                                    <C>
ARTICLE VI.   INCREASED COSTS, ETC...............................................................................    28

Section 6.1      Increased Costs.................................................................................    28
Section 6.2      Funding Losses..................................................................................    29
Section 6.3      Withholding Taxes...............................................................................    29

ARTICLE VII.  CONDITIONS TO BORROWING............................................................................    30

Section 7.1      Initial Loan....................................................................................    30
                  7.1.1    Resolutions...........................................................................    30
                  7.1.2    Consents, etc.........................................................................    30
                  7.1.3    Incumbency and Signatures.............................................................    30
                  7.1.4    Good Standing Certificates............................................................    30
                  7.1.5    Financing Statements..................................................................    30
                  7.1.6    Search Reports........................................................................    31
                  7.1.7    Fee Letter; Payment of Fees...........................................................    31
                  7.1.8    First Step Sale Agreement and Receivables Sale Agreement..............................    31
                  7.1.9    Opinions of Counsel...................................................................    31
                  7.1.10   Lender Note...........................................................................    31
                  7.1.11   Borrowing Base Certificate............................................................    32
                  7.1.12   Lock Box and Blocked Account Agreements...............................................    32
                  7.1.13   Releases..............................................................................    32
                  7.1.14   Performance Undertaking...............................................................    32
                  7.1.15   Other.................................................................................    32
Section 7.2      All Loans.......................................................................................    32
                  7.2.1    No Default, etc.......................................................................    32
                  7.2.2    Borrowing Request, etc................................................................    32
                  7.2.3    Commitment Termination Date...........................................................    32
                  7.2.4    Collateral Review.....................................................................    32
                  7.2.5    Accounts..............................................................................    32

ARTICLE VIII. REPRESENTATIONS AND WARRANTIES.....................................................................    33

Section 8.1       Existence and Power.............................................................................   33
Section 8.2       Power and Authority; Due Authorization, Execution and Delivery..................................   33
Section 8.3       No Conflict.....................................................................................   33
Section 8.4       Governmental Authorization......................................................................   33
Section 8.5       Actions, Suits..................................................................................   33
Section 8.6       Binding Effect..................................................................................   34
Section 8.7       Accuracy of Information.........................................................................   34
Section 8.8       Margin Regulations; Use of Proceeds.............................................................   34
Section 8.9       Good Title......................................................................................   34
Section 8.10      Perfection......................................................................................   34
Section 8.11      Chief Executive Office..........................................................................   35
Section 8.12      Accounts........................................................................................   35
Section 8.13      No Material Adverse Effect......................................................................   35
Section 8.14      Names...........................................................................................   35
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<TABLE>
<S>           <C>                                                                                                    <C>
Section 8.15      Ownership of Borrower; No Subsidiaries.........................................................    35
Section 8.16      Not a Holding Company or an Investment Company.................................................    35
Section 8.17      Compliance with Credit and Collection Policy...................................................    35
Section 8.18      Solvency.......................................................................................    35
Section 8.19      Eligible Receivables...........................................................................    35
Section 8.20      Sales by Originator............................................................................    36

ARTICLE IX.   COVENANTS OF BORROWER AND SERVICER.................................................................    36

Section 9.1      Affirmative Covenants...........................................................................    36
                  9.1.1    Compliance with Laws, Etc.............................................................    36
                  9.1.2    Preservation of Corporate Existence...................................................    36
                  9.1.3    Performance and Compliance with Receivables...........................................    36
                  9.1.4    Credit and Collection Policy..........................................................    36
                  9.1.5    Reporting Requirements................................................................    36
                           (a)      Financial Statements.........................................................    36
                           (b)      Borrowing Base Certificates and Monthly Reports..............................    37
                           (c)      Significant Events...........................................................    37
                           (d)      Servicing Certificate........................................................    38
                           (e)      Collateral Review............................................................    38
                           (f)      Other........................................................................    38
                  9.1.6    Use of Proceeds.......................................................................    38
                  9.1.7    Separate Legal Entity.................................................................    38
                  9.1.8    Adverse Claims on Receivables.........................................................    40
                  9.1.9    Further Assurances....................................................................    40
                  9.1.10   Servicing.............................................................................    40
                  9.1.11   Inspection............................................................................    41
                  9.1.12   Cooperation...........................................................................    41
                  9.1.13   Facility..............................................................................    41
                  9.1.14   Accounts..............................................................................    41
Section 9.2      Negative Covenants..............................................................................    42
                  9.2.1    Sales, Liens, Etc.....................................................................    42
                  9.2.2    Mergers, Acquisitions, Sales, Subsidiaries, etc.......................................    42
                  9.2.3    Change in Business; Change in Credit and Collection Policy............................    42
                  9.2.4    Other Debt............................................................................    43
                  9.2.5    Certificate of Incorporation and By-Laws..............................................    43
                  9.2.6    Chief Executive Office................................................................    43
                  9.2.7    Financing Statements..................................................................    43
                  9.2.8    Business Restrictions.................................................................    43
                  9.2.9    Other Agreements; Performance Undertaking.............................................    43

ARTICLE X.    SIGNIFICANT EVENTS AND THEIR EFFECT................................................................    44

Section 10.1      Events of Default..............................................................................    44
                  10.1.1   Non-Payment of Loans, Etc.............................................................    44
                  10.1.2   Non-Compliance with Other Provisions..................................................    44
                  10.1.3   Breach of Representations and Warranties..............................................    44
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<S>           <C>                                                                                                    <C>
                  10.1.4   Bankruptcy............................................................................    44
                  10.1.5   Tax Liens.............................................................................    44
Section 10.2      Amortization Events............................................................................    45
                  10.2.1   Servicer Event of Default.............................................................    45
                  10.2.2   Borrowing Base Deficit................................................................    45
                  10.2.3   Default Ratio.........................................................................    45
                  10.2.4   Delinquency Ratio.....................................................................    45
                  10.2.5   Dilution Ratio........................................................................    45
                  10.2.6   Accounts Receivable Turnover Ratio....................................................    45
                  10.2.7   Event of Default......................................................................    45
                  10.2.8   Validity of Transaction Documents.....................................................    45
                  10.2.9   Termination Date......................................................................    45
                  10.2.10 Performance Undertaking................................................................    45
Section 10.3      Effect of Significant Event....................................................................    46

ARTICLE XI.   THE SERVICER.......................................................................................    46

Section 11.1      ChoicePoint as Initial Servicer................................................................    46
Section 11.2      Certain Duties of the Servicer.................................................................    46
                  11.2.1   Authorization to Act as Borrower's Agent..............................................    46
                  11.2.2   Servicer to Act as Servicer; Originators as Permitted Sub-Servicers...................    47
                  11.2.3   Collections...........................................................................    48
                  11.2.4   Depository Accounts...................................................................    49
Section 11.3      Servicing Compensation.........................................................................    50
Section 11.4      Agreement Not to Resign........................................................................    50
Section 11.5      Designation of Servicer........................................................................    50
Section 11.6      Termination....................................................................................    50
Section 11.7      Servicer Events of Default.....................................................................    50
                  11.7.1   Failure to Make Payments and Deposits.................................................    50
                  11.7.2   Non-Compliance with Other Provisions..................................................    51
                  11.7.3   Delegation............................................................................    51
                  11.7.4   Breach of Representations and Warranties..............................................    51
                  11.7.5   Consolidated Tangible Net Worth.......................................................    51
                  11.7.6   Bankruptcy............................................................................    51
                  11.7.7   Judgments.............................................................................    51
                  11.7.8   Cross-Default to Material Debt........................................................    51

ARTICLE XII.  ADMINISTRATOR.......................................................................................   52

Section 12.1      Authorization and Action.......................................................................    52
Section 12.2      Administrator and Affiliates...................................................................    52

ARTICLE XIII. ASSIGNMENTS........................................................................................    52

Section 13.1      Restrictions on Assignments....................................................................    52
Section 13.2      Documentation..................................................................................    53
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<S>           <C>                                                                                                    <C>
Section 13.3      Rights of Assignee.............................................................................    53
Section 13.4      Notice of Assignment...........................................................................    53

ARTICLE XIV.  INDEMNIFICATION.....................................................................................   53

Section 14.1      General Indemnity of Borrower..................................................................    53
Section 14.2      Indemnity of Servicer..........................................................................    54

ARTICLE XV.   MISCELLANEOUS......................................................................................    54

Section 15.1      No Waiver; Remedies............................................................................    54
Section 15.2      Amendments, Etc................................................................................    54
Section 15.3      Notices, Etc...................................................................................    55
Section 15.4      Costs, Expenses and Taxes......................................................................    55
Section 15.5      Binding Effect; Survival.......................................................................    55
Section 15.6      Captions and Cross References..................................................................    56
Section 15.7      Severability...................................................................................    56
Section 15.8      Governing Law..................................................................................    56
Section 15.9      Counterparts...................................................................................    56
Section 15.10     Submission to Jurisdiction; Waiver of Trial by Jury............................................    56
Section 15.11     Limitation on Recourse.........................................................................    57
Section 15.12     No Proceedings.................................................................................    57
Section 15.13     Confidentiality................................................................................    58
Section 15.14     Entire Agreement...............................................................................    58
</TABLE>

                             EXHIBITS AND SCHEDULES

EXHIBIT A                Form of Borrowing Request
EXHIBIT B                Form of Lender Note
EXHIBIT C                Form of Monthly Report
EXHIBIT D                Form of Borrowing Base Certificate
EXHIBIT E                Form of LockBox and Blocked Account Agreement
EXHIBIT F                Form of Performance Undertaking
SCHEDULE 8.12            LockBoxes and LockBox Accounts
SCHEDULE 9.1.5           Collateral Review Requirements
SCHEDULE 15.3            Notice Addresses

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                                 LOAN AGREEMENT

                  THIS LOAN AGREEMENT is made and entered into as of July 2,
2001, among CHOICEPOINT FINANCIAL INC., a Delaware corporation ("BORROWER"),
CHOICEPOINT INC., a Georgia corporation, in its capacity as the initial servicer
(in such capacity, together with its successors and permitted assigns in such
capacity, the "SERVICER"), THREE PILLARS FUNDING CORPORATION, a Delaware
corporation (together with its successors and permitted assigns, "LENDER"), and
SUNTRUST EQUITABLE SECURITIES CORPORATION, a Tennessee corporation, as agent and
administrator for Lender (in such capacity, together with its successor and
assigns in such capacity, the "ADMINISTRATOR").

                                   BACKGROUND

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

                  2.       Lender is willing to provide such financing on the
         terms and subject to the 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 I.
                                   DEFINITIONS

                  Section 1.1       Defined Terms. As used in this Agreement,
(a) capitalized terms used and not otherwise defined herein are used with the
meanings attributed thereto in the Receivables Sale Agreement (hereinafter
defined) or if not defined therein, in the First Step Sale Agreement
(hereinafter defined) regardless of whether those capitalized terms are listed
below, and (b) the following terms have the following meanings:

                  "ACCOUNTS RECEIVABLE TURNOVER RATIO" means, on any date of
determination, the ratio computed as of the most recent Calculation Date by
dividing (a) the aggregate amount of Credit Sales during the 12 months ending on
such Calculation Date by (b) the average month-end amount of the aggregate
Unpaid Balance of Receivables during the 12 months ending on such Calculation
Date.

                  "ADMINISTRATOR" has the meaning set forth in the preamble to
this Agreement.

                  "ADMINISTRATOR'S ACCOUNT" has the meaning set forth in Section
4.5.

                  "ADVANCE RATE" means the percentage equal to (a) 100% minus
(b) the Reserve Percentage.

                  "ADVERSE CLAIM" has the meaning specified in the First Step
Sale Agreement.

                  "AFFECTED PARTY" means each of Lender, any Liquidity Bank, any
permitted assignee of Lender or any Liquidity Bank, any Support Provider and any
holder of a participation

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interest in the rights and obligations of any Liquidity Bank or Credit Bank
under the Liquidity Agreement or the Credit Agreement, as the case may be,
Administrator and any holding company of Bank.

                  "AFFILIATE" of any Person means any other Person that (i)
directly or indirectly controls, is controlled by or is under common control
with such Person or (ii) is an officer or director of such Person. A Person
shall be deemed to be "controlled by" another Person if such other Person
possesses, directly or indirectly, power (a) to vote 5% or more of the
securities (on a fully diluted basis) having ordinary voting power for the
election of directors or managing partners of such other Person, or (b) to
direct or cause the direction of the management and policies of such other
Person whether by contract or otherwise. The word "AFFILIATED" has a correlative
meaning.

                  "AGGREGATE ELIGIBLE BALANCE" means, on any date of
determination, the aggregate Unpaid Balance of all Eligible Receivables at such
time.

                  "AGREEMENT" means this Loan Agreement, as it may be amended,
supplemented, restated or otherwise modified from time to time in accordance
with the terms hereof.

                  "ALLOCATIONS" has the meaning set forth in Section 3.3.

                  "ALTERNATIVE RATE" means, for any Interest Period, an interest
rate per annum equal to either (a) the LIBOR Rate or (b) if the LIBOR Rate is
unavailable for any reason or there is less than two (2) Business Days' prior
notice to the Liquidity Banks of any funding by them, the Base Rate.

                  "ALTERNATIVE RATE ALLOCATION" has the meaning set forth in
Section 3.3.

                  "AMORTIZATION EVENT" means any of the events described in
Section 10.2.

                  "APPLICABLE MARGIN" has the meaning specified in the Fee
Letter.

                  "BANK" means SunTrust Bank, a Georgia banking corporation.

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

                  "BASE RATE" means, on any date of determination, a fluctuating
rate of interest per annum equal to the higher of (i) the Prime Rate, or (ii)
the Federal Funds Rate most recently determined by Bank plus 0.50% per annum.

                  "BORROWER" has the meaning set forth in the preamble to this
Agreement.

                  "BORROWING BASE" means, on any date of determination, an
amount equal to the product of (a) the Advance Rate as of the most recent
Calculation Date times (b) the excess, if any, of (i) the Aggregate Eligible
Balance as of the last Business Day of the two-week period then most recently
ended over (ii) the Excess Concentration Amount for all Obligors as of the last
Business Day of the two-week period then most recently ended.

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                  "BORROWING BASE CERTIFICATE" means a certificate,
substantially in the form of Exhibit D hereto, duly executed by an authorized
officer of Servicer.

                  "BORROWING BASE DEFICIT" means, on any date of determination,
an amount equal to (i) the excess, if any, of (a) the aggregate principal amount
of all outstanding Loans at such time over (b) the sum of the Borrowing Base (as
reflected in the most recent Borrowing Base Certificate) plus (ii) all
Collections on deposit in the Depository Accounts at such time.

                  "BORROWING REQUEST" has the meaning set forth in Section 2.2.

                  "BUSINESS DAY" means any day on which (a) Bank is not
authorized or required to be closed for business in Atlanta, Georgia, and The
Depository Trust Company of New York is open for business, and (b) commercial
banks in New York City are not authorized or required to be closed and, in the
case of a Rate Setting Date for Loans bearing interest by reference to the LIBOR
Rate, banks are open for business in London, England.

                  "CALCULATION DATE" means the last Business Day of each
Calculation Period.

                  "CALCULATION PERIOD" means a calendar month.

                  "CHARGE-OFF" means a Receivable not previously deemed a
Defaulted Receivable that is written-off by the Servicer or should, in
accordance with the Credit and Collection Policy, be written-off.

                  "CHOICEPOINT" means ChoicePoint Inc., a Georgia corporation.

                  "CLOSING DATE" means the date of the first Loan hereunder.

                  "COLLATERAL" has the meaning set forth in Section 5.1(a).

                  "COLLATERAL REVIEW" means a report of the independent
certified public accountants of ChoicePoint which satisfies the requirements set
forth on Schedule 9.1.5.

                  "COLLECTIONS" has the meaning set forth in the First Step Sale
Agreement.

                  "COMMERCIAL PAPER NOTES" means short-term promissory notes
issued by Lender to fund its Loans or investments in receivables or other
financial assets.

                  "COMMERCIAL PAPER RATE" means, for any Interest Period for all
or any portion of the related CP Allocation, a rate per annum equal to the sum
of (i) the rate or, if more than one rate, the weighted average of the rates,
determined by converting to an interest-bearing equivalent rate per annum the
discount rate (or rates) at which Commercial Paper Notes outstanding during such
Interest Period have been or may be sold by any placement agent or commercial
paper dealer selected by Administrator, plus (ii) the commissions and charges
charged by such placement agent or commercial paper dealer with respect to such
Commercial Paper Notes, expressed as a percentage of the face amount thereof and
converted to an interest-bearing equivalent rate per annum.

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                  "COMMITMENT TERMINATION DATE" means the earliest to occur of
(i) the Scheduled Commitment Termination Date, (ii) the date of any termination
of the Lender's Commitment pursuant to Section 2.6, (iii) the effective date on
which the Lender's Commitment is terminated pursuant to Section 10.3, (iv) the
Liquidity Termination Date, (v) termination of the Credit Banks' commitments
under the Credit Agreement, and (vi) the date on which any purchase or other
funding is made pursuant to the Liquidity Agreement.

                  "CONCENTRATION LIMIT" means:

                  (a)      for any Obligor whose short term unsecured debt
         ratings are not less than both "A-1" from S&P and "P-1" from Moody's,
         8.0% of the Aggregate Eligible Balance; or

                  (b)      for any Obligor whose short term unsecured debt
         ratings are not less than both "A-3" from S&P and "P-3" from Moody's
         but are less than both "A-1" by S&P and "P-1" by Moody's, 5.0% of the
         Aggregate Eligible Balance; or

                  (c)      for any Obligor who does not have short term
         unsecured debt ratings from both S&P and Moody's but has long term
         unsecured debt ratings from both S&P and Moody's which are greater than
         or equal to both "A" by S&P and "A2" by Moody's, 8.0% of the Aggregate
         Eligible Balance; or

                  (d)      for any Obligor who does not have short term
         unsecured debt ratings from both S&P and Moody's but has long term
         unsecured debt ratings from both S&P and Moody's which are greater than
         or equal to both "BBB-" by S&P and "Baa3" by Moody's but less than both
         "A" by S&P and "A2" by Moody's, 5.0% of the Aggregate Eligible Balance;
         or

                  (e)      for any Obligor who (i) does not have short term
         unsecured debt ratings or long term unsecured debt ratings from both
         S&P and Moody's or (ii) has such ratings but does not meet the test in
         any of clauses (a)-(d) above, 3.0% of the Aggregate Eligible Balance;

PROVIDED that (1) the limitations set forth in the foregoing clauses (a)-(e)
shall apply to each specified Obligor and its Affiliates, considered as if they
were one and the same Person, and (2) in the event that any Obligor has both
long-term and short-term unsecured debt ratings from both S&P and Moody's, the
short-term debt ratings under clause (a) or (b) above, as applicable, shall
control.

                  "CONSOLIDATED TANGIBLE NET WORTH" means at any date, with
respect to any Person, the consolidated stockholders' equity of such Person and
its consolidated Subsidiaries, plus the principal amount of subordinated debt of
such Person, minus (to the extent reflected in determining such consolidated
stockholders' equity) all intangible assets (determined in accordance with GAAP)
as reported in the audited consolidated financial statements of such Person for
the fiscal year in question.

                  "CONTRACT" has the meaning set forth in the First Step Sale
Agreement.

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<PAGE>   11

                  "COVERED TAXES" means Taxes other than Excluded Taxes.

                  "CP ALLOCATION" has the meaning set forth in Section 3.3.

                  "CP TRANCHE PERIOD" means, with respect to all or any portion
of the CP Allocation, a period of days not to exceed 90 days commencing on a
Business Day which period is either (a) requested by Borrower and agreed to by
Lender (or by Administrator on Lender's behalf) or (b) in the absence of such
request and agreement, selected by Lender (or by Administrator on Lender's
behalf).

                  "CREDIT ADVANCE" means a drawing under a letter of credit
issued pursuant to a Credit Agreement for the account of Lender, a loan to
Lender under a Credit Agreement or any other advance or disbursement of funds to
Lender or for Lender's account pursuant to a Credit Agreement or any such letter
of credit, in each case to the extent such drawing, loan, advance or
disbursement has not been repaid or reimbursed to Credit Bank in accordance with
the related Credit Agreement.

                  "CREDIT AGREEMENT" means and includes any program-wide
agreement entered into by any Credit Bank providing for the issuance of one or
more letters of credit for the account of Lender, the issuance of one or more
surety bonds for which Lender is obligated to reimburse the applicable Credit
Bank for any drawings hereunder, the sale by Lender to any Credit Bank of
receivables or other financial assets owned or held by Lender (or portions
thereof) and/or the making of loans and/or other extensions of credit to Lender
in connection with its commercial paper program, together with any cash
collateral agreement, letter of credit, surety bond or other agreement or
instrument executed and delivered in connection therewith (but excluding the
Liquidity Agreement, or similar agreement, or any voluntary advance agreement).

                  "CREDIT AND COLLECTION POLICY" has the meaning set forth in
the First Step Sale Agreement

                  "CREDIT BANK" means and includes Bank and any other or
additional bank or other Person (other than Borrower or other customer of Lender
or any liquidity provider as such) now or hereafter extending credit or a
purchase commitment to or for the account of Lender or issuing a letter of
credit, surety bond or other instrument, in each case to support any obligations
arising under or in connection with Lender's commercial paper program.

                  "CREDIT SALES" means, for any period of determination, the
aggregate amount of all trade receivables with credit terms of any kind
originated by the Originators during such period, regardless of whether the same
have been invoiced.

                  "DAYS SALES OUTSTANDING RATIO" means, on any date of
determination, the ratio computed as of the most recent Calculation Date by
dividing (a) 360 by (b) the Accounts Receivable Turnover Ratio for the
Calculation Period ending on such Calculation Date.

                  "DEBT" of any Person means, without duplication, (i) all
indebtedness of such Person for borrowed money, (ii) all indebtedness of such
Person for the deferred purchase price of property or services (other than
property and services purchased, and expense accruals and deferred compensation
items arising, in the ordinary course of business), (iii) all obligations of

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<PAGE>   12

such Person evidenced by notes, bonds, debentures or other similar instruments
(other than performance, surety and appeal bonds arising in the ordinary course
of business), (iv) all indebtedness of such Person created or arising under any
conditional sale or other title retention agreement with respect to property
acquired by such Person (even though the rights and remedies of the seller or
lender under such agreement in the event of default are limited to repossession
or sale of such property), (v) all obligations of such Person under leases which
have been or should be, in accordance with GAAP, recorded as capital leases, to
the extent required to be so recorded, (vi) all reimbursement, payment or
similar obligations of such Person, contingent or otherwise, under acceptance,
letter of credit or similar facilities (other than letters of credit in support
of trade obligations or in connection with workers' compensation, unemployment
insurance, old-age pensions and other social security benefits in the ordinary
course of business), (vii) all net obligations of such Person in respect of
interest rate swap, cap, collar, swaption, option or similar agreements, (viii)
all obligations arising in connection with a sale or other transfer of any of
such Person's financial assets which are, or are intended to be, classified as
loans for federal tax purposes, (ix) all Debt referred to in clauses (i) through
(viii) above guaranteed directly or indirectly by such Person, or in effect
guaranteed directly or indirectly by such Person through an agreement (A) to pay
or purchase such Debt or to advance or supply funds for the payment or purchase
of such Debt, (B) to purchase, sell or lease (as lessee or lessor) property, or
to purchase or sell services, primarily for the purpose of enabling the debtor
to make payment of such Debt or to assure the holder of such Debt against loss
in respect of such Debt, (C) to supply funds to or in any other manner invest in
the debtor (including any agreement to pay for property or services irrespective
of whether such property is received or such services are rendered) or (D)
otherwise to assure a creditor against loss in respect of such Debt, and (x) all
Debt referred to in clauses (i) through (viii) above secured by (or for which
the holder of such Debt has an existing right, contingent or otherwise, to be
secured by) any lien, security interest or other charge or encumbrance upon or
in property (including, without limitation, accounts and contract rights) owned
by such Person, even though such Person has not assumed or become liable for the
payment of such Debt.

                  "DEFAULT RATE" has the meaning set forth in Section 3.1(c).

                  "DEFAULT RATIO" means, on any date of determination, the ratio
(expressed as a percentage) computed as of the most recent Calculation Date by
dividing (a) the sum (without double counting) of (i) the Unpaid Balance of
Receivables that became Defaulted Receivables during the Calculation Period
ending on such Calculation Date, plus (ii) the Unpaid Balance of Receivables
that became Charge-Offs during the Calculation Period ending on such Calculation
Date by (b) Credit Sales for the Calculation Period ending four (4) months prior
to such Calculation Date.

                  "DEFAULTED RECEIVABLE" means, as of any date of determination,
any Receivable (i) which the Servicer has or should have charged-off or deemed
uncollectible in accordance with the Credit and Collection Policy after taking a
reasonable time to apply Collections received to applicable invoices and
reconcile the amount of such Receivable, (ii) as to which, as of such date of
determination, any payment, or part thereof, remains unpaid for 91 days or more
past the due date for such payment, determined by reference to the original
contractual payment terms of such Receivable or (iii) as to which the Obligor
thereon has suffered an Event of Bankruptcy.

                                       6
<PAGE>   13

                  "DELINQUENCY RATIO" means, on any date of determination, the
ratio (expressed as a percentage) computed as of the most recent Calculation
Date by dividing (i) the Unpaid Balance of Receivables which are Delinquent
Receivables as of such Calculation Date by (ii) an amount equal to the Aggregate
Eligible Balance as of such Calculation Date, minus the aggregate Excess
Concentration Amount as of such Calculation Date.

                  "DELINQUENT RECEIVABLE" means a Receivable (other than a
Defaulted Receivable) as to which all or any part of a scheduled payment remains
unpaid for 61 days or more from the original due date for such payment.

                  "DEPOSIT DATE" has the meaning set forth in Section 11.2.4(b).

                  "DEPOSITORY ACCOUNT" means a deposit account (other than a
LockBox Account) into which Collections are deposited.

                  "DILUTION HORIZON RATIO" means, on any date of determination,
the ratio (expressed as a percentage) computed as of the most recent Calculation
Date by dividing (a) the sum of (i) Credit Sales for the Calculation Period
ending on such Calculation Date plus (ii) 50% of Credit Sales for the
Calculation Period ending one (1) month prior to such Calculation Date by (b) an
amount equal to the Aggregate Eligible Balance as of such Calculation Date,
minus the aggregate Excess Concentration Amount as of such Calculation Date.

                  "DILUTION RATIO" means, on any date of determination, the
ratio (expressed as a percentage) computed as of the most recent Calculation
Date by dividing (a) Dilutions for the Calculation Period ending on such
Calculation Date by (b) Credit Sales for the Calculation Period ending one (1)
month prior to such Calculation Date.

                  "DILUTION RESERVE" means, on any date of determination, the
product computed as of the most recent Calculation Date, of (a) the sum of (i)
the product of (x) the Stress Factor times (y) the Expected Dilution Ratio plus
(ii) the product of (x) the positive difference, if any, between (1) the
Dilution Spike Rate less (2) the Expected Dilution Ratio times (y) a ratio
computed by dividing (1) the Dilution Spike Rate by (2) the Expected Dilution
Ratio times (b) the Dilution Horizon Ratio.

                  "DILUTION SPIKE RATE" means, on any date of determination, the
highest Dilution Ratio over the 12-month period ending on the most recent
Calculation Date.

                  "DILUTIONS" means, for any period of determination, the
aggregate amount of returns, allowances, net credits and any other non-cash
reductions to the Credit Sales during such period.

                  "DISTRIBUTION DATE" means the 20th day of each month after the
Closing Date (or, if any such day is not a Business Day, the next succeeding
Business Day thereafter).

                  "DOCUMENTS" means all documentation relating to the
Receivables including, without limitation, the Contracts, billing statements and
computer records and programs.

                                       7
<PAGE>   14

                  "DOLLAR(S)" and the sign "$" shall mean lawful money of the
United States of America.

                  "ELIGIBLE ORIGINATOR" means (a) any Originator party to the
First Step Sale Agreement on the Closing Date, and (b) any Originator who
becomes a party to the First Step Sale Agreement after the Closing Date with
respect to which the Rating Agencies have received written notice of such
Originator's addition and a certificate from the Administrator regarding
perfection of Borrower's ownership interest and Administrator's security
interest in such new Originator's Receivables and Related Security; PROVIDED,
HOWEVER, that if such Originator is a Material Originator, such Originator shall
not be an Eligible Originator unless Administrator has otherwise agreed in
writing and the Rating Agency Condition has been satisfied.

                  "ELIGIBLE RECEIVABLE" means each Receivable that meets the
following criteria:

                  (a)      that was created by an Eligible Originator in
         compliance, in all material respects, with its Credit and Collection
         Policy, in the regular and ordinary course of the business of such
         Eligible Originator;

                  (b)      that was documented in all material respects in
         compliance with the applicable Eligible Originator's standard
         administration and documentation policies and procedures;

                  (c)      is not a Delinquent Receivable or a Defaulted
         Receivable;

                  (d)      as to which, at the time of the sale or contribution
         of such Receivable to Parent SPE, the applicable Eligible Originator
         was the sole owner thereof and had good and marketable title thereto,
         free and clear of all Adverse Claims, and as to which, at the time of
         the sale or contribution of such Receivable to Borrower, Parent SPE was
         the sole owner thereof and had good and marketable title thereto, free
         and clear of all Adverse Claims, and which was sold or contributed to
         Parent SPE pursuant to the First Step Sale Agreement, and then sold or
         contributed to Borrower pursuant to the Receivables Sale Agreement,
         free and clear of all Adverse Claims other than in favor of
         Administrator;

                  (e)      the assignment of which by the applicable Eligible
         Originator to Parent SPE pursuant to the First Step Sale Agreement and
         by Parent SPE to Borrower pursuant to the Receivables Sale Agreement
         does not contravene or conflict with any law, rule or regulation or any
         contractual or other restriction, limitation or encumbrance, and the
         sale or assignment of which does not require the consent of the Obligor
         thereof;

                  (f)      which is denominated and payable in Dollars and is
         only payable in the United States of America;

                  (g)      the Obligor of which is a resident of the United
         States;

                  (h)      the Obligor of which is not an officer, director or
         Affiliate of any Originator, Parent SPE or Borrower;

                                       8
<PAGE>   15

                  (i)      the Obligor of which is not a Governmental Authority;

                  (j)      that is in full force and effect and constitutes the
         legally valid and binding payment obligation of the Obligor with
         respect thereto, enforceable against such Obligor in accordance with
         its terms and is not subject to any right of rescission, setoff,
         counterclaim or defense (including the defense of usury) or to any
         repurchase obligation or return right;

                  (k)      that does not contravene any applicable requirements
         of law (including without limitation all laws, rules and regulations
         relating to truth in lending, fair credit billing, fair credit
         reporting, fair debt collection practices and privacy) and which
         complies with all applicable requirements of law and with respect to
         which all consents, licenses, approvals or authorizations of, or
         registrations or declarations with, any Governmental Authority required
         to be obtained, effected or given by the related Eligible Originator in
         connection with the creation or the execution, delivery and performance
         of such Receivable, have been duly obtained, effected or given and are
         in full force and effect;

                  (l)      that complies with all applicable requirements of the
         applicable Credit and Collection Policy;

                  (m)      as to which each of Parent SPE's, Borrower's and
         Administrator's (for the benefit of the Secured Parties) first priority
         security interest in such Receivable has been perfected under the
         applicable Uniform Commercial Code and other applicable laws;

                  (n)      as to which the Servicer is in possession of the
         related Receivable File;

                  (o)      which is invoiced no less frequently than once per
         month and has been outstanding, on any date of determination, not more
         than 60 days after the creation of such invoice;

                  (p)      the terms of which have not been modified or waived
         except as permitted under the applicable Credit and Collection Policy
         and this Agreement;

                  (q)      which constitutes an "account" under and as defined
         in Article 9 of the Uniform Commercial Code of all applicable
         jurisdictions;

                  (r)      which is not subject to any dispute, right of
         rescission, set-off, counterclaim or any other defense (including
         defenses arising out of violations of usury laws) of the applicable
         Obligor against the applicable Originator or any other Adverse Claim,
         and the Obligor thereon holds no right as against the applicable
         Eligible Originator to cause the applicable Eligible Originator to
         repurchase the goods the sale of which shall have given rise to such
         Receivable (except with respect to sale discounts effected pursuant to
         the Contract, or goods returned in accordance with the terms of the
         Contract); and

                                       9
<PAGE>   16

                  (s)      the applicable Eligible Originator has satisfied and
         fully performed all obligations on its part with respect to such
         Receivable required to be fulfilled by it, and no further action is
         required to be performed by any Person with respect thereto other than
         payment thereon by the applicable Obligor.

                  "EVENT OF BANKRUPTCY" shall be deemed to have occurred with
respect to a Person if either:

                  (a)      a case or other proceeding shall be commenced,
         without the application or consent of such Person, in any court,
         seeking the liquidation, reorganization, debt arrangement, dissolution,
         winding up, or composition or readjustment of debts of such Person, the
         appointment of a trustee, receiver, custodian, liquidator, assignee,
         sequestrator or the like for such Person or all or substantially all of
         its assets, or any similar action with respect to such Person under any
         law relating to bankruptcy, insolvency, reorganization, winding up or
         composition or adjustment of debts; or an order for relief in respect
         of such Person shall be entered in an involuntary case under the
         Bankruptcy Code or other similar laws now or hereafter in effect; or

                  (b)      such Person shall commence a voluntary case or other
         proceeding under any applicable bankruptcy, insolvency, reorganization,
         debt arrangement, dissolution or other similar law now or hereafter in
         effect, or shall consent to the appointment of or taking possession by
         a receiver, liquidator, assignee, trustee, custodian, sequestrator (or
         other similar official) for such Person or for any substantial part of
         its property, or shall make any general assignment for the benefit of
         creditors, or shall fail to, or admit in writing its inability to, pay
         its debts generally as they become due, or, if a corporation or similar
         entity, its board of directors shall vote to implement any of the
         foregoing.

                  "EVENT OF DEFAULT" means any of the events described in
Section 10.1.

                  "EXCESS CONCENTRATION AMOUNT" means, on any date of
determination, with respect to any Obligor and its Affiliates considered as if
they were one and the same Obligor, the amount, if any, by which the Aggregate
Eligible Balance of such Obligor and its Affiliates at such time exceeds the
Concentration Limit for such Obligor and its Affiliates at such time.

                  "EXCLUDED TAXES" means, in the case of any Indemnified Party,
taxes imposed on its overall net income, and franchise taxes and branch profit
taxes based on net income, imposed on it by (i) the jurisdiction under the laws
of which such Indemnified Party is incorporated or organized or (ii) the
jurisdiction in which such Indemnified Party's principal executive office is
located.

                  "EXECUTIVE OFFICER" means, as to any Person, such Person's
chief executive office, president, chief financial officer, chief legal officer,
treasurer, assistant treasurer, and any individual holding comparable offices or
duties.

                                       10
<PAGE>   17

                  "EXPECTED DILUTION RATIO" means, on any date of determination,
the rolling twelve-month average Dilution Ratio for the 12-month period ending
on the most recent Calculation Date.

                  "FACILITY LIMIT" means $100,000,000 (as such amount may be
reduced from time to time in accordance with Section 2.6).

                  "FEDERAL FUNDS RATE" means, for any period, the per annum rate
set forth in the weekly statistical release designated as H.15(519), or any
successor publication, published by the Federal Reserve Board (including any
such successor, "H.15(519)") for such day opposite the caption "Federal Funds
(Effective)." If on any relevant day such rate is not yet published in
H.15(519), the rate for such day will be the rate set forth in the daily
statistical release designated as the Composite 3:30 p.m. Quotations for U.S.
Government Securities, or any successor publications, published by the Federal
Reserve Bank of Atlanta (including any such successor, the "COMPOSITE 3:30 P.M.
QUOTATIONS") for such day under the caption "Federal Funds Effective Rate." If
on any relevant day the appropriate rate for such previous day is not yet
published in either H.15(519) or the Composite 3:30 p.m. Quotations, the rate
for such day will be the arithmetic mean as determined by Bank of the rates for
the last transaction in overnight Federal funds arranged prior to 9:00 a.m. (New
York time) on that day by each of three leading brokers of Federal funds
transactions in New York City selected by Bank.

                  "FEE LETTER" has the meaning set forth in Section 3.4.

                  "FEES" means all fees and other amounts payable by Borrower to
Administrator or Lender pursuant to the Fee Letter.

                  "FIRST STEP NOTE" has the meaning set forth in the Receivables
Sale Agreement.

                  "FIRST STEP SALE AGREEMENT" has the meaning set forth in the
Receivables Sale Agreement.

                  "GAAP" has the meaning set forth in the First Step Sale
Agreement.

                  "GOVERNMENTAL AUTHORITY" has the meaning set forth in the
First Step Sale Agreement.

                  "INDEMNIFIED AMOUNTS" has the meaning set forth in Section
14.1.

                  "INDEMNIFIED PARTY" has the meaning set forth in Section 14.1.

                  "INTEREST PERIOD" means:

                  (a)      with respect to any CP Allocation, its CP Tranche
         Period;

                  (b)      with respect to any Alternative Rate Allocation, (i)
         initially, the period commencing on the date of the initial
         establishment of such Allocation and ending on (but excluding) the
         Business Day immediately preceding the next following Scheduled
         Interest Payment Date, and (ii) thereafter, each period

                                       11
<PAGE>   18

         commencing on (and including) the Business Day immediately preceding a
         Scheduled Interest Payment Date and ending on (but excluding) the
         Business Day immediately preceding the next following Scheduled
         Interest Payment Date;

PROVIDED, HOWEVER, that if any Interest Period for any Allocation that commences
before the Commitment Termination Date would otherwise end on a date occurring
after such Commitment Termination Date, such Interest Period shall end on such
Commitment Termination Date and the duration of each such Interest Period that
commences on or after the Commitment Termination Date, if any, shall be of such
duration as shall be selected by Administrator.

                  "LENDER" has the meaning set forth in the preamble to this
Agreement.

                  "LENDER NOTE" has the meaning set forth in Section 2.7.

                  "LENDER'S COMMITMENT" has the meaning set forth in Section
2.1.

                  "LIABILITIES" means, with respect to any Person, all
obligations of such Person which would, in accordance with GAAP, be classified
on a balance sheet as liabilities, including, without limitation, (i) Debt
secured by liens against property of such Person whether or not such Person is
liable for the payment thereof and (ii) deferred liabilities.

                  "LIBOR RATE" means, for any Interest Period, the rate per
annum on the Rate Setting Day of such Interest Period shown on page 3750 of
Telerate or any successor page as the composite offered rate for London
interbank deposits for one month, as shown under the heading "USD" as of 11:00
a.m. (London time); PROVIDED that in the event no such rate is shown, the LIBOR
Rate shall be the rate per annum (rounded upwards, if necessary, to the nearest
1/16th of one percent) based on the rates at which Dollar deposits for one month
are displayed on page "LIBOR" of the Reuters Screen as of 11:00 a.m. (London
time) on the Rate Setting Day (it being understood that if at least two (2) such
rates appear on such page, the rate will be the arithmetic mean of such
displayed rates); PROVIDED FURTHER, that in the event fewer than two (2) such
rates are displayed, or if no such rate is relevant, the LIBOR Rate shall be the
rate per annum equal to the average of the rates at which deposits in Dollars
are offered by Administrator at approximately 11:00 a.m. (London time) on the
Rate Setting Day to prime banks in the London interbank market for a one month.

                  "LIQUIDITY AGREEMENT" means and includes (a) the Liquidity
Asset Purchase Agreement (regarding ChoicePoint Financial Inc.), dated as of
July 2, 2001, among Lender, as borrower, Bank, as liquidity agent for the
Liquidity Banks, Administrator, and the Liquidity Banks, or (b) any other
agreement hereafter entered into by Lender providing for the sale by Lender of
Loans (or portions thereof), or the making of loans or other extensions of
credit to Lender secured by security interests in the Loans (or portions
thereof), to support all or part of Lender's payment obligations under the
Commercial Paper Notes or to provide an alternate means of funding Lender's
investments in accounts receivable or other financial assets, in each case as
amended, supplemented, restated or otherwise modified from time to time.

                  "LIQUIDITY BANK" means and includes Bank and the various
financial institutions as are, or may become, parties to the Liquidity
Agreement, as purchasers thereunder.

                                       12
<PAGE>   19

                  "LIQUIDITY TERMINATION DATE" means the earlier to occur of (a)
July 1, 2002, as such date may be extended from time to time by the Liquidity
Banks in accordance with the Liquidity Agreement, and (b) the occurrence of an
Event of Bankruptcy with respect to Lender.

                  "LOAN" means any amount disbursed as principal by Lender to
Borrower under this Agreement.

                  "LOCKBOX" means a postal box maintained on behalf of Borrower
or the Servicer for the purpose of receiving checks and money orders
constituting Collections of the Receivables.

                  "LOCKBOX ACCOUNT" means any of those bank accounts described
on Schedule 8.12 hereto and any additional or replacement account to which Mail
Payments are deposited for clearing.

                  "LOCKBOX AND BLOCKED ACCOUNT AGREEMENT" means an agreement
among an Originator and/or Servicer, Borrower, Administrator and the bank
holding any LockBox Account, in substantially the form of Exhibit E attached
hereto.

                  "LOSS HORIZON RATIO" means, on any date of determination, the
ratio computed as of the most recent Calculation Date by dividing (a) the sum of
(i) Credit Sales for the Calculation Period ending on such Calculation Date,
plus (ii) Credit Sales for the Calculation Period ending one (1) month prior to
such Calculation Date, plus (iii) Credit Sales for the Calculation Period ending
two (2) months prior to such Calculation Date, plus (iv) 50% of Credit Sales for
the Calculation Period ending three (3) months prior to such Calculation Date,
by (b) an amount equal to the Aggregate Eligible Balance as of such Calculation
Date, minus the aggregate Excess Concentration Amount as of such Calculation
Date.

                  "LOSS RESERVE" means, on any date of determination, the
product of (i) the highest rolling 3-month average Default Ratio over the 12
months ending on the most recent Calculation Date, times (ii) the Loss Horizon
Ratio as of such Calculation Date, times (iii) the Stress Factor.

                  "MAIL PAYMENTS" has the meaning specified in Section
11.2.3(a).

                  "MATERIAL ADVERSE EFFECT" means a material adverse effect on
(a) on the business, property, condition (financial or otherwise) or results of
operations of (i) Servicer and its Subsidiaries taken as a whole, or (ii)
Borrower, (b) the ability of Borrower, Servicer or Performance Guarantor to
perform its respective obligations under the Agreement or any other Transaction
Document to which it is a party, (c) the legality, validity or enforceability of
the Agreement or any other Transaction Document, (d) the existence, validity,
perfection or priority of (i) Administrator's (for the benefit of the Secured
Parties) security interest in the Collateral, or (ii) Borrower's ownership
interest in the Receivables, or (e) the validity, enforceability or
collectibility of the Receivables generally or of any material portion of the
Receivables.

                  "MATERIAL DEBT" has the meaning specified in Section 11.7.8.

                                       13
<PAGE>   20

                  "MATERIAL ORIGINATOR" means any Subsidiary of ChoicePoint that
becomes an Originator under the First Step Sale Agreement after the Closing Date
whose Receivables represent more than 10% of the aggregate Unpaid Balance of all
Receivables immediately prior to such Subsidiary's addition as an Originator.

                  "MONTHLY REPORT" means a report, substantially in the form of
Exhibit C or in such other form acceptable to Administrator, prepared by
Servicer as of the Calculation Date then most recently occurring signed by an
authorized officer of Servicer.

                  "MOODY'S" means Moody's Investors Service, Inc.

                  "NET WORTH" with respect to the Borrower has the meaning
specified in the Receivables Sale Agreement.

                  "OBLIGATIONS" means all obligations (monetary or otherwise) of
Borrower to Lender, Administrator, any Affected Party or any Indemnified Party
and their respective successors, permitted transferees and assigns arising under
or in connection with this Agreement, the Lender Note and each other Transaction
Document, in each case however created, arising or evidenced, whether direct or
indirect, absolute or contingent, now or hereafter existing, or due or to become
due.

                  "OBLIGOR" means, with respect to any Receivable, each Person
obligated to make payments with respect to such Receivable, including any
guarantor thereof.

                  "ORIGINATOR" means (a) ChoicePoint Services Inc., a Georgia
corporation, PRC Corporation, a Georgia corporation, ChoicePoint Business and
Government Services Inc., a Georgia corporation, ChoicePoint Direct Inc., an
Illinois corporation, Statewide Data Services, Inc., a Florida corporation,
I.R.S.C., Inc., a California corporation, ChoicePoint Public Records Inc., a
Georgia corporation, Patlex Corporation, a Pennsylvania corporation, National
Safety Alliance Incorporated, a Tennessee corporation, and BTi Employee
Screening Services Inc., a Texas corporation , in its capacity as a seller under
the First Step Sale Agreement, and (b) any Subsidiary of ChoicePoint that
hereafter becomes a seller under the First Step Sale Agreement.

                  "OUTSTANDING BALANCE" has the meaning specified in the First
Step Sale Agreement.

                  "PARENT SPE" means ChoicePoint Capital Inc., a Delaware
corporation, and its successors.

                  "PERFORMANCE GUARANTOR" means ChoicePoint.

                  "PERFORMANCE UNDERTAKING" means a Performance Undertaking in
the form of Exhibit F hereto, duly executed by the Performance Guarantor in
favor of the Borrower.

                  "PERMITTED INVESTMENT" means, at any time:

                  (i)      marketable obligations issued by, or the full and
         timely payment of which is directly and fully guaranteed or insured by,
         the United States

                                       14
<PAGE>   21

         government or any other government with an equivalent rating, or any
         agency or instrumentality thereof when such marketable obligations are
         backed by the full faith and credit of the United States government or
         such other equivalently rated government, as the case may be, but
         excluding any securities which are derivatives of such obligations;

                  (ii)     time deposits, bankers' acceptances and certificates
         of deposit of any domestic commercial bank or any United States branch
         or agency of a foreign commercial bank which (x) has capital, surplus
         and undivided profits in excess of $100,000,000 and which has a
         commercial paper or certificate of deposit rating meeting the
         requirements specified in clause (iii) below (or equivalent rating from
         the Rating Agencies) or (y) is set forth in a list (which may be
         updated from time to time) (A) approved by Administrator and (B) with
         respect to which a written statement has been obtained from each of the
         Rating Agencies to the effect that the rating of the Commercial Paper
         Notes will not be downgraded or withdrawn solely as a result of the
         acquisition of such investments;

                  (iii)    commercial paper which is (x) rated at least as high
         as the Commercial Paper Notes by the Rating Agencies, or (y) set forth
         in a list (which may be updated from time to time) (A) approved by
         Administrator and (B) with respect to which a written statement has
         been obtained from each of the Rating Agencies to the effect that the
         rating of the Commercial Paper Notes will not be downgraded or
         withdrawn solely as a result of the acquisition of such investments;

                  (iv)     secured repurchase obligations for underlying
         securities of the types described in clauses (i) and (ii) above entered
         into with any bank of the type described in clause (ii) above; and

                  (v)      freely redeemable shares in money market funds which
         invest solely in obligations, bankers' acceptances, time deposits,
         certificates of deposit, repurchase agreements and commercial paper of
         the types described in clauses(i) through (iv) above, without regard to
         the limitations as to the maturity of such obligations, bankers'
         acceptances, time deposits, certificates of deposit, repurchase
         agreements or commercial paper set forth below, which are rated at
         least "AAm" or "AAmg" or their equivalent by at least one Rating
         Agency, PROVIDED that there is no "r-highlighter" affixed to such
         rating.

                  "PERSON" has the meaning set forth in the First Step Sale
Agreement

                  "PRIME RATE" means as of any date of determination, the rate
of interest most recently announced by Bank at its principal office in Atlanta,
Georgia as its prime rate (it being understood that at any one time there shall
exist only one such prime rate so announced, which rate is not necessarily
intended to be the lowest rate of interest determined by Bank in connection with
extensions of credit).

                                       15
<PAGE>   22

                  "PROGRAM DOCUMENTS" means the Liquidity Agreement, the Credit
Agreement, the Voluntary Advance Agreement, the documents under which
Administrator performs its obligations with respect to Lender's commercial paper
program and the other documents to be executed and delivered in connection
therewith, as amended, supplemented, restated or otherwise modified from time to
time.

                  "PURCHASE PRICE CREDIT" means any "PURCHASE PRICE CREDIT" as
defined in the First Step Sale Agreement or the Receivables Sale Agreement

                  "RATE SETTING DAY" means, for any Interest Period, two (2)
Business Days prior to the commencement of such Interest Period. In the event
such day is not a Business Day, then the Rate Setting Day shall be the
immediately preceding Business Day.

                  "RATING AGENCIES" means S&P and Moody's.

                  "RATING AGENCY CONDITION" means that Lender has received
written notice from each of the Rating Agencies that an amendment, a change or a
waiver will not result in a withdrawal or downgrade of the then current ratings
on Lender's Commercial Paper Notes.

                  "RECEIVABLE" has the meaning specified in the Receivables Sale
Agreement.

                  "RECEIVABLE FILE" means with respect to a Receivable, (i) the
Contract giving rise to the Receivable and other evidences of the Receivable
including, without limitation, tapes, discs, punch cards and related property
and rights and (ii) each UCC financing statement related thereto, if any.

                  "RECEIVABLES SALE AGREEMENT" means the Receivables Sale
Agreement, dated as of July 2, 2001, by and between Parent SPE, as seller, and
Borrower, as purchaser, as such Receivables Sale Agreement may be amended,
supplemented, restated or otherwise modified from time to time with the prior
written consent of Administrator.

                  "REGULATORY CHANGE" means, relative to any Affected Party:

                  (a)      any change in (or the adoption, implementation,
         change in the phase-in or commencement of effectiveness of) any: (i)
         United States Federal or state law or foreign law applicable to such
         Affected Party, (ii) regulation, interpretation, directive, requirement
         or request (whether or not having the force of law) applicable to such
         Affected Party of (A) any court or government authority charged with
         the interpretation or administration of any law referred to in clause
         (a)(i), or of (B) any fiscal, monetary or other authority having
         jurisdiction over such Affected Party, or (iii) GAAP or regulatory
         accounting principles applicable to such Affected Party and affecting
         the application to such Affected Party of any law, regulation,
         interpretation, directive, requirement or request referred to in clause
         (a)(i) or (a)(ii) above;

                  (b)      any change in the application to such Affected Party
         of any existing law, regulation, interpretation, directive,
         requirement, request or accounting principles referred to in clause
         (a)(i), (a)(ii) or (a)(iii) above; or

                                       16
<PAGE>   23

                  (c)      the issuance, publication or release of any
         regulation, interpretation, directive, requirement or request of a type
         described in clause (a)(ii) above to the effect that the obligations of
         any Liquidity Bank under the Liquidity Agreement are not entitled to be
         included in the zero percent category of off-balance sheet assets for
         purposes of any risk-weighted capital guidelines applicable to such
         Liquidity Bank or any related Affected Party.

                  "RELATED SECURITY" has the meaning specified in the
Receivables Sale and Contribution Agreement.

                  "REQUIRED CAPITAL AMOUNT" has the meaning specified in the
Receivables Sale Agreement.

                  "REQUIREMENTS OF LAW" for any Person or any of its property
shall mean the certificate of incorporation or articles of association and
by-laws or other organizational or governing documents of such Person or any of
its property, and any statute, law, treaty, rule or regulation, or determination
of an arbitrator or Governmental Authority, in each case applicable to or
binding upon such Person or any of its property or businesses or to which such
Person or any of its property or businesses is subject, whether federal, state
or local.

                  "RESERVE FLOOR" means for any Calculation Period, 19%.

                  "RESERVE PERCENTAGE" means the percentage equal to the greater
of (a) the sum of (i) the Loss Reserve, (ii) the Dilution Reserve, (iii) the
Yield Reserve, and (iv) the Servicing Reserve and (b) the Reserve Floor.

                  "S&P" means Standard & Poor's Ratings Group, a division of The
McGraw-Hill Companies, Inc.

                  "SCHEDULED COMMITMENT TERMINATION DATE" means July 1, 2002, as
extended from time to time by mutual agreement of the parties hereto.

                  "SCHEDULED INTEREST PAYMENT DATE" means each Distribution Date
hereafter commencing with July 20, 2001.

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

                  "SECURED PARTIES" means Lender, Administrator and each
Indemnified Party, and the successors and permitted assigns of each of the
foregoing.

                  "SERVICER" means ChoicePoint, or any successor Servicer
appointed as provided in Section 11.5.

                  "SERVICER EVENT OF DEFAULT" shall have the meaning specified
in Section 11.7.

                  "SERVICING FEE" means, for each day in a Calculation Period,
an amount equal to (i) the Servicing Fee Rate (or, at any time while ChoicePoint
Inc. or one of its Affiliates is the Servicer, such lesser percentage as may be
agreed between Borrower and the Servicer on an

                                       17
<PAGE>   24

arms' length basis based on then prevailing market terms for similar services),
TIMES (ii) the aggregate Outstanding Balance of all Receivables as of the close
of business on the cut-Off Date immediately preceding such Calculation Period,
TIMES (iii) 1/360. The Servicing Fee for any successor Servicer that is not an
Affiliate of ChoicePoint Inc. shall be equal to the fee reasonably agreed to by
Administrator and such successor Servicer but in no event shall such fee exceed
110% of such successor Servicer's actual costs of servicing the Receivables.

                  "SERVICING FEE RATE" means 2.40%.

                  "SERVICING RESERVE" means, on any date of determination, the
product of: (a) the highest Day Sales Outstanding Ratio during the 12 months
ending on the most recent Calculation Date, (b) the Stress Factor, (c) the
Servicing Fee Rate, and (d) 1/360.

                  "SIGNIFICANT EVENT" means any Amortization Event or Event of
Default.

                  "SOLVENT" means with respect to any Person that as of the date
of determination both (A)(i) the then fair saleable value of the property of
such Person is (y) greater than the total amount of liabilities (including
contingent liabilities) of such Person and (z) not less than the amount that
will be required to pay the probable liabilities on such Person's then existing
debts as they become absolute and matured considering all financing alternatives
and potential asset sales reasonably available to such Person; (ii) such
Person's capital is not unreasonably small in relation to its business or any
contemplated or undertaken transaction; and (iii) such Person does not intend to
incur, or believe (nor should it reasonably believe) that it will incur, debts
beyond its ability to pay such debts as they become due; and (B) such Person is
"solvent" within the meaning given that term and similar terms under applicable
laws relating to fraudulent transfers and conveyances. For purposes of this
definition, the amount of any contingent liability at any time shall be computed
as the amount that, in light of all of the facts and circumstances existing at
such time, represents the amount that can reasonably be expected to become an
actual or matured liability.

                  "STRESS FACTOR" means 2.0.

                  "SUBORDINATED NOTE" has the meaning specified in the
Receivables Sale Agreement.

                  "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.

                  "SUPPORT PROVIDER" means and includes any entity now or
hereafter extending credit or liquidity support or having a commitment to extend
credit or liquidity support to or for the account of, or to make loans to or
purchases from, Lender or issuing a letter of credit, surety bond or other
instrument to support any obligations arising under or in connection with the
commercial paper program of Lender.

                  "TAXES" means any and all present or future taxes, duties,
levies, imposts, deductions, charges or withholdings, and any and all
liabilities (including but not limited to interest and penalties) with respect
to the foregoing, imposed by any Governmental Authority.

                                       18
<PAGE>   25

                  "TELERATE PAGE 3750" shall mean the display designated as
"Page 3750" on the Telerate Service (or such other page as may replace "Page
3750" on that service or another service as may be nominated by the British
Bankers' Association as the information vendor for the purpose of displaying
British Bankers' Association Interest Settlement Rate for Dollars).

                  "TRANSACTION DOCUMENTS" means this Agreement, the Receivables
Sale Agreement, the First Step Sale Agreement, the Lender Note, the Fee Letter,
the Subordinated Note, the First Step Notes, the Performance Undertaking, and
the other instruments, certificates, agreements, reports and documents to be
executed and delivered under or in connection with this Agreement or the
Receivables Sale Agreement (except the Program Documents), as any of the
foregoing may be amended, supplemented, amended and restated, or otherwise
modified from time to time in accordance with this Agreement.

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

                  "UNMATURED SERVICER EVENT OF DEFAULT" means any event that, if
it continues uncured, will, with lapse of time or notice or lapse of time and
notice, constitute a Servicer Event of Default.

                  "UNMATURED SIGNIFICANT EVENT" means any event that, if it
continues uncured, will, with lapse of time or notice or lapse of time and
notice, constitute a Significant Event.

                  "UNPAID BALANCE" means, with respect to any Receivable, the
sum of (a) the Outstanding Balance thereof, plus (without duplication), (b) the
aggregate amount required to repay in full all interest, finance, prepayment and
other fees or charges of any kind payable in respect of, such Outstanding
Balance.

                  "VOLUNTARY ADVANCE AGREEMENT" means the Voluntary Advance
Agreement, dated as of March 11, 1999, among Lender, Administrator and Bank, as
it may be amended, supplemented, restated or otherwise modified from time to
time.

                  "YIELD RESERVE" means, on any date of determination, the
product of (a) the highest Day Sales Outstanding Ratio during the 12 months
ending on the most recent Calculation Date, (b) the Stress Factor, (c) the Prime
Rate as in effect on such Calculation Date and (d) 1/360.

                  Section  1.2      Other Definitional Provisions.

                  (a)      Unless otherwise specified therein, all terms defined
         in this Agreement have the meanings as so defined herein when used in
         the Lender Note or 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, the Lender Note or
         any other Transaction Document, certificate, report or other document
         made or delivered pursuant hereto, and each term defined in the plural

                                       19
<PAGE>   26

         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.

                  Section 1.3       Other Terms. All accounting terms not
specifically defined herein shall be construed in accordance with GAAP. All
terms used in Article 9 of the UCC and not specifically defined herein, are used
herein as defined in such Article 9.

                  Section 1.4       Computation of Time Periods. Unless
otherwise stated in this Agreement, in the computation of a period of time from
a specified date to a later specified date, the word "FROM" means "FROM AND
INCLUDING" and the words "TO" and "UNTIL" each means "TO BUT EXCLUDING."

                                  ARTICLE II.
          THE LENDER'S COMMITMENT, BORROWING PROCEDURES AND LENDER NOTE

                  Section 2.1       Lender's Commitment. On the terms and
subject to the conditions set forth in this Agreement, Lender agrees to make
loans to Borrower on a revolving basis from time to time (the "LENDER'S
COMMITMENT") before the Commitment Termination Date in such amounts as may be
from time to time requested by Borrower pursuant to Section 2.2; PROVIDED,
HOWEVER, that the aggregate principal amount of all Loans from time to time
outstanding hereunder shall not exceed the lesser of (a) the Facility Limit and
(b) the Borrowing Base. Within the limits of the Lender's Commitment, Borrower
may borrow and (subject to Section 4.1(a)) prepay and reborrow under this
Section 2.1.

                  Section 2.2       Borrowing Procedures. Borrower (or the
Servicer on its behalf) may request a Loan hereunder by giving notice to
Administrator of a proposed borrowing not later than 2:00 p.m. (New York City
time), two (2) Business Days prior to the proposed date of such borrowing (or
such lesser period of time as Lender may consent); PROVIDED that Borrower shall
not request, and Lender shall not make, Loans more than once per calendar week.
Each such notice (herein called a "BORROWING REQUEST") shall be in the form of
Exhibit A (or, if acceptable to Administrator, the information required therein
may be given by telephone) and shall include the date and amount of such
proposed borrowing. Any Borrowing Request given by Borrower (or the Servicer on
its behalf) pursuant to this Section 2.2 shall be irrevocable and binding on
Borrower.

                  Section 2.3       Funding. Subject to the satisfaction of the
conditions precedent set forth in Article VII with respect to such Loan and the
limitations set forth in Section 2.1, Lender shall make the proceeds of such
requested Loan available to Administrator at its office in Atlanta, Georgia in
immediately available funds on the proposed date of borrowing. Upon

                                       20
<PAGE>   27

receipt by Administrator of such funds, Administrator will make such funds
available to Borrower at such office on such date. Each borrowing shall be on a
Business Day and shall be in an amount of at least $1,000,000 and in integral
multiples of $500,000 (or in such other amounts as Lender or Administrator may
approve).

                  Section 2.4       Representation and Warranty. Each request
for a borrowing pursuant to Section 2.2 shall automatically constitute a
representation and warranty by Borrower to Administrator and Lender that on the
requested date of such borrowing (a) the representations and warranties
contained in Article VIII will be true and correct as of such requested date as
though made on such date, (b) no Significant Event or Unmatured Significant
Event has occurred and is continuing or will result from such borrowing, and (c)
after giving effect to such requested borrowing, the aggregate principal balance
of the outstanding Loans hereunder will not exceed the lesser of the Borrowing
Base and the Facility Limit.

                  Section 2.5       Extension of Lender's Commitment. The
Lender's Commitment shall terminate on the Commitment Termination Date.
Notwithstanding the foregoing:

                  (a)      Lender or Administrator, on Lender's behalf, shall
         use reasonable effort to give Borrower not less than 60 days' prior
         notice of any scheduled termination of the Credit Banks' commitments
         under the Credit Agreement and shall promptly notify Borrower of any
         extension thereof,

                  (b)      Not more than 90 days prior to the Liquidity
         Termination Date in effect from time to time, Borrower may request that
         Lender or Administrator, on Lender's behalf, seek the Liquidity Banks'
         consent to extend the Liquidity Termination Date for a period which,
         when aggregated with the number of days remaining until the existing
         Liquidity Termination Date would not cause the Liquidity Banks'
         commitments under the Liquidity Agreement as so extended to exceed 364
         days in toto, and

                  (c)      Not more than 90 days prior to the Scheduled
         Commitment Termination Date in effect from time to time, Borrower may
         request that Lender consent to extend the Scheduled Commitment
         Termination Date for an additional 364-day period.

Administrator shall advise Borrower in writing whether each request made
pursuant to the foregoing clause (b) or clause (c) has been granted within
thirty (30) days after such request has been made and whether such consent is
subject to satisfaction of any conditions precedent. If any such request is not
granted within thirty (30) days after such request has been made, the Liquidity
Termination Date or Scheduled Commitment Termination Date, as the case may be,
shall remain unchanged. If any such request is granted within thirty (30) days
after such request has been made, the Liquidity Termination Date or Scheduled
Commitment Termination Date, as the case may be, shall be extended as provided
in Administrator's written notice upon satisfaction of any conditions precedent
specified therein.

                  Section 2.6       Voluntary Termination of Lender's
Commitment; Reduction of Facility Limit. Borrower may, in its sole discretion
for any reason upon at least 10 days'

                                       21
<PAGE>   28

notice to Administrator (with a copy to Lender), terminate the Lender's
Commitment in whole, or, reduce in part the unused portion of the Facility
Limit; PROVIDED, HOWEVER that (a) each such partial reduction will be in a
minimum amount of $5,000,000 or a higher integral multiple of $1,000,000 and
shall not reduce the Facility Limit below $40,000,000, and (b) in connection
therewith Borrower shall comply with Section 3.2(b) and Section 4.1(b).

                  Section 2.7       Note. Each Loan from Lender shall be
evidenced by a single promissory grid note (herein, as amended, modified,
extended or replaced from time to time, called the "LENDER NOTE") substantially
in the form set forth in Exhibit B, with appropriate insertions, payable to the
order of Lender. Borrower hereby irrevocably authorizes Administrator in
connection with the Lender Note to make (or cause to be made) appropriate
notations on the grid attached to the Lender Note (or on any continuation of
such grid, or at Administrator's option, in its records), which notations, if
made, shall evidence, inter alia, the date of, the outstanding principal of, and
the interest rate and Interest Period applicable to the Loans 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 Obligations of Borrower.

                                  ARTICLE III.
                              INTEREST, FEES, ETC.

                  Section 3.1       Interest Rates. Borrower hereby promises to
pay interest on the unpaid principal amount of each Loan (or each portion
thereof) for the period commencing on the date of such Loan until such Loan is
paid in full, as follows:

                  (a)      at all times while the making or maintenance of such
         Loan (or the applicable portion thereof) by Lender is funded by the
         issuance of Commercial Paper Notes of Lender, during each Interest
         Period, at a rate per annum equal to the sum of (i) the Commercial
         Paper Rate applicable to such Interest Period, plus (ii) the Applicable
         Margin;

                  (b)      at all times while the making or maintenance of such
         Loan (or the applicable portion thereof) by Lender is funded during
         each Interest Period pursuant to the Liquidity Agreement or the
         Voluntary Advance Agreement, at a rate per annum equal to the sum of
         (i) the Alternative Rate applicable to such Interest Period, plus (ii)
         the Applicable Margin; and

                  (c)      notwithstanding the provisions of the preceding
         clauses (a) and (b), in the event that a Significant Event or an
         Unmatured Significant Event has occurred and is continuing, at a rate
         per annum (the "DEFAULT RATE") equal to the Base Rate applicable from
         time to time (but not less than the interest rate in effect for such
         Loan as at the date of such Significant Event), plus a margin of 2.00%.
         After the date any principal amount of any Loan is due and payable
         (whether on the Scheduled Commitment Termination Date, upon
         acceleration or otherwise) or after any other monetary Obligation of
         Borrower arising under this Agreement shall become due and payable,
         Borrower shall pay (to the extent permitted by law, if in respect of
         any unpaid amounts representing interest) interest (after as well as

                                       22
<PAGE>   29

         before judgment) on such amounts at a rate per annum equal to the
         Default Rate. No provision of this Agreement or the Lender Note shall
         require the payment or permit the collection of interest in excess of
         the maximum permitted by applicable law.

                  Section 3.2       Interest Payment Dates. Interest accrued on
each Allocation shall be payable, without duplication:

                  (a)      on each Scheduled Interest Payment Date prior to the
         Scheduled Commitment Termination Date, for the period since the
         creation of such Allocation (in the case of the first Scheduled
         Interest Payment Date thereafter) or since the prior Scheduled Interest
         Payment Date (in the case of any subsequent Scheduled Interest Payment
         Date);

                  (b)      on the date of any payment or prepayment (in whole or
         in part) of principal outstanding in such Allocation, on the amount
         paid or prepaid (it being understood that any prepayment shall be
         accompanied by any amounts owing under Section 6.2);

                  (c)      in full, on the Scheduled Commitment Termination Date
         (whether at scheduled maturity or upon acceleration thereof pursuant to
         Section 10.3); and

                  (d)      from and after the Scheduled Commitment Termination
         Date, upon demand.

                  Section 3.3       Interest Allocations. Administrator shall
from time to time and in its sole discretion determine whether interest in
respect of the Loans then outstanding, or any portion thereof, shall be
calculated by reference to the Commercial Paper Rate (such portion being herein
called a "CP ALLOCATION") or an Alternative Rate (such portion being herein
called an "ALTERNATIVE RATE ALLOCATION", and together with a CP Allocation
individually called an "ALLOCATION", and collectively, "ALLOCATIONS"); PROVIDED,
HOWEVER, that, Administrator shall use its reasonable efforts to allocate all or
substantially all of the Loans from Lender to a CP Allocation (it being
understood that if Lender is not able to issue sufficient Commercial Paper Notes
to fund all of its assets at such time and no Significant Event or Unmatured
Significant Event has occurred and is continuing, Lender and Administrator
shall, at least, fund the Loans pro rata with its other non-defaulted assets
with Commercial Paper Notes); PROVIDED FURTHER, HOWEVER, that Administrator may
determine, at any time and in its sole discretion, that the Commercial Paper
Rate is unavailable or otherwise not desirable, in which case the Loans from
Lender will be allocated to an Alternative Rate Allocation (unless the Default
Rate is in effect).

                  Section 3.4       Fees. Borrower agrees to pay (or cause to be
paid to) Administrator and Lender certain Fees in the amounts and on the dates
set forth in the letter agreement executed in connection herewith between
Borrower and Administrator (as the same may be amended, supplemented, restated
or otherwise modified, the "FEE LETTER").

                  Section 3.5       Computation of Interest and Fees. All
interest, Fees and Servicing Fees shall be computed on the basis of the actual
number of days (including the first day but

                                       23
<PAGE>   30

excluding the last day) occurring during the period for which such interest or
Fee is payable over a year comprised of 360 days.

                                  ARTICLE IV.
             REPAYMENTS AND PREPAYMENTS; DISTRIBUTION OF COLLECTIONS

                  Section 4.1       Repayments and Prepayments. Borrower shall
repay in full the unpaid principal amount of each Loan on the Scheduled
Commitment Termination Date. Prior thereto, Borrower:

                  (a)      may, from time to time on any Business Day, make a
         prepayment, in whole or in part, of the outstanding principal amount of
         any Loans; PROVIDED, HOWEVER, that, (i) unless otherwise consented to
         by Administrator, all such voluntary prepayments shall require at least
         two (2) Business Days' (or, in the case of a voluntary prepayment of
         $10,000,000 or more, at least seven (7) Business Days') prior written
         notice to Administrator, (ii) unless otherwise consented to by
         Administrator, all such voluntary partial prepayments shall be in a
         minimum amount of $1,000,000 and an integral multiple of $100,000, and
         (iii) unless and until the aggregate outstanding principal balance of
         the Loans hereunder is less than 10% of the highest amount ever
         borrowed hereunder, no such prepayment may be made with any funds other
         than (A) Collections and (B) the Borrower's initial paid-in cash
         capital (if any then remains);

                  (b)      shall, on each date when any reduction in the
         Facility Limit shall become effective pursuant to Section 2.6, make a
         prepayment of the Loans in an amount equal to the excess, if any, of
         the aggregate outstanding principal amount of the Loans over the
         Facility Limit as so reduced;

                  (c)      shall, immediately upon any acceleration of the
         Scheduled Commitment Termination Date of any Loans pursuant to Section
         10.3, repay all Loans, unless, pursuant to Section 10.3(a), only a
         portion of all Loans is so accelerated, in which event Borrower shall
         repay the accelerated portion of the Loans; and

                  (d)      shall, immediately upon discovering that a Borrowing
         Base Deficit exists, make a prepayment of the Loans in an amount equal
         to such Borrowing Base Deficit. Each such prepayment shall be subject
         to the payment of any amounts required by Section 6.2.

                  Section 4.2       Application of Collections.

                  (a)      All Collections shall be distributed by the Servicer
at such times and in the order of priority set forth in this Section 4.2.

                  (b)      On each Distribution Date, prior to payment in full
of all Secured Obligations, the Servicer shall distribute from Collections on
deposit in the Depository Accounts on such Distribution Date, if any, the
following amounts, without duplication in the following order of priority:

                                       24
<PAGE>   31

                  FIRST, to the extent due and owing under this Agreement or any
         other Transaction Document, the accrued Servicing Fee payable for the
         prior Calculation Period (plus, if applicable, the amount of Servicing
         Fee payable for any prior Calculation Period to the extent such amount
         has not been distributed to Servicer);

                  SECOND, interest accrued on the Loans during the period from
         the most recent Distribution Date to the current Distribution Date
         (plus, if applicable, the amount of interest on the Loans accrued for
         any prior period to the extent such amount has not been paid, and to
         the extent permitted by law, interest thereon);

                  THIRD, to the extent due and owing under any Transaction
         Document, all Fees accrued during the prior Calculation Period (plus,
         if applicable, the amount of Fees accrued for any prior Calculation
         Period to the extent such amount has not been distributed to Lender or
         Administrator);

                  FOURTH, as a repayment of principal of the Loans, an amount
         equal to the Borrowing Base Deficit, if any;

                  FIFTH, to the extent due and owing under any Transaction
         Document on such Distribution Date, all other Secured Obligations owed
         to any Secured Party;

                  SIXTH, to the extent due and owing under this Agreement or any
         other Transaction Document on such Distribution Date, all other
         obligations then payable by Borrower to Administrator or Lender; and

                  SEVENTH, the balance, if any, to Borrower.

                  (c)      On and after the Commitment Termination Date and the
payment in full of all Secured Obligations, the Servicer shall distribute from
Collections on deposit in the Depository Accounts on such Distribution Date, if
any, the following amounts, without duplication in the following order of
priority:

                  FIRST, the accrued but unpaid Servicing Fee due and owing on
         such Distribution Date;

                  SECOND, all other obligations payable by Borrower under this
         Agreement due and owing on such Distribution Date; and

                  THIRD, once all amounts described in clauses FIRST and SECOND
         above have been paid in full, the balance, if any, to Borrower.

                  Section 4.3       Application of Certain Payments. Each
payment of principal of the Loans shall be applied to such Loans as Borrower
shall direct or, in the absence of such notice or during the existence of a
Significant Event or after the Commitment Termination Date, as Administrator
shall determine in its discretion.

                                       25
<PAGE>   32

                  Section 4.4       Due Date Extension. If any payment of
principal or interest with respect to any Loan 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 additional interest shall accrue at the applicable interest
rate and be payable for the period of such extension.

                  Section 4.5       Making of Payments. All payments of
principal of, or interest on, the Loans and of all Fees, and all amounts to be
deposited by Borrower or Servicer hereunder, shall be made by Borrower or
Servicer, as applicable, no later than 12:00 noon (New York City time), on the
day when due in lawful money of the United States of America in immediately
available funds to Bank, as Administrator, Reference: Three Pillars Funding
Corporation/ChoicePoint Financial Inc., a Delaware corporation, Transaction,
Account No. 880171236, ABA No. 061000104, at Bank's office at 25 Park Place, in
Atlanta, Georgia, Attn: Mary Hinsberg (the "ADMINISTRATOR'S ACCOUNT"). Funds
received by Administrator after 12:00 noon (New York City time), on the date
when due, will be deemed to have been received by Administrator on its next
following Business Day.

                                   ARTICLE V.
                                SECURITY INTEREST

                  Section 5.1       Grant of Security.

                  (a)      Borrower hereby assigns and pledges to Administrator
(for the benefit of the Secured Parties), and hereby grants to Administrator
(for the benefit of the Secured Parties) a security interest in all of
Borrower's right, title and interest in and to the following, whether now or
hereafter existing and wherever located:

                  (i)      all Receivables, Related Security and Receivable
         Files;

                  (ii)     all of Borrower's rights, remedies, powers and
         privileges in respect of the Receivables Sale Agreement, including,
         without limitation, its rights to receive Purchase Price Credits and
         indemnity payments thereunder;

                  (iii)    all of Borrower's rights, remedies, powers and
         privileges in respect of the Performance Undertaking, including,
         without limitation, its right to demand performance thereunder;

                  (iv)     the LockBox Accounts and the Depository Accounts and
         all funds on deposit therein, together with all certificates and
         instruments, if any, from time to time evidencing such accounts and
         funds on deposit; and

                  (v)      all products and proceeds (including, without
         limitation, insurance proceeds) of, and additions, improvements and
         accessions to, and books and records describing or used in connection
         with, all and any of the property described above;

(items (i) through (v) are collectively referred to as the "COLLATERAL").

                                       26
<PAGE>   33

                  (b)      This grant of security secures the payment and
performance of all Obligations of Borrower now or hereafter existing or arising
under, or in connection with, this Loan Agreement, the Lender Note and each
other Transaction Document, whether for principal, interest, costs, Fees,
Indemnified Amounts, expenses or otherwise (all such Obligations of Borrower
being called the "SECURED OBLIGATIONS").

                  (c)      This grant of security shall create a continuing
security interest in the Collateral and shall:

                  (i)      remain in full force and effect until Administrator's
         (for the benefit of the Secured Parties) interest in the Collateral
         shall have been released in accordance with Section 5.4;

                  (ii)     be binding upon Borrower, its successors, transferees
         and assigns; and

                  (iii)    inure, together with the rights and remedies of
         Administrator (for the benefit of the Secured Parties) hereunder, to
         the benefit of Administrator and each Secured Party and their
         respective successors, transferees and assigns.

                  Section  5.2      Administrator Appointed Attorney-in-Fact.
Borrower hereby irrevocably appoints Administrator (for the benefit of the
Secured Parties) as Borrower's attorney-in-fact, with full authority in the
place and stead of Borrower and in the name of Borrower or otherwise, from time
to time in Administrator's discretion, after the occurrence and during the
continuation of a Significant Event to take any action and to execute any
instrument which Administrator may deem necessary or advisable to accomplish the
purposes of the Transaction Documents, including, without limitation:

                  (a)      to ask, demand, collect, sue for, recover,
         compromise, receive and give acquittance and receipts for moneys due
         and to become due under or in respect of any of the Collateral;

                  (b)      to receive, endorse, and collect any drafts or other
         instruments, documents and chattel paper, in connection with clause (a)
         above;

                  (c)      to file any claims or take any action or institute
         any proceedings which Administrator may deem necessary or desirable for
         the collection of any of the Collateral or otherwise to enforce the
         rights of Administrator (for the benefit of the Secured Parties) with
         respect to any of the Collateral;

                  (d)      to sell, transfer, assign or otherwise deal in or
         with the Collateral or any part thereof pursuant to the terms and
         conditions hereunder; and

                  (e)      to perform the affirmative obligations of Borrower
         under the Transaction Documents. Administrator agrees to give Borrower
         and Servicer written notice of the taking of any such action, but the
         failure to give such notice shall not affect the rights, power or
         authority of Administrator with respect thereto. Borrower hereby
         acknowledges, consents and agrees that the power of

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<PAGE>   34

         attorney granted pursuant to this Section 5.2 is irrevocable and
         coupled with an interest.

                  Section 5.3       Administrator May Perform. If Borrower fails
to perform any agreement contained herein, Administrator (for the benefit of the
Secured Parties) may itself perform, or cause performance of such agreement, and
the expenses of Administrator incurred in connection therewith shall be payable
by Borrower.

                  Section 5.4       Release of Collateral. Administrator's (for
the benefit of the Secured Parties) right, title and interest in the Collateral
shall be released effective on the date occurring after the Commitment
Termination Date on which all Secured Obligations shall have been finally and
fully paid and performed.

                                  ARTICLE VI.
                              INCREASED COSTS, ETC.

                  Section 6.1       Increased Costs. If any change in Regulation
D of the Board of Governors of the Federal Reserve System, or any Regulatory
Change, in each case occurring after the date hereof:

                  (a)      shall subject any Affected Party to any tax, duty or
         other charge with respect to any Loan made or funded by it, or shall
         change the basis of taxation of payments to such Affected Party of the
         principal of or interest on any Loan owed to or funded by it or any
         other amounts due under this Agreement in respect of any Loan made or
         funded by it (except for changes in the rate of tax on the overall net
         income of such Affected Party imposed by the jurisdiction in which such
         Affected Party's principal executive office is located); or

                  (b)      shall impose, modify or deem applicable any reserve
         (including, without limitation, any reserve imposed by the Board of
         Governors of the Federal Reserve System, but excluding any reserve
         included in the determination of interest rates pursuant to Section
         3.1), special deposit or similar requirement against assets of,
         deposits with or for the account of, or credit extended by, any
         Affected Party;

                  (c)      shall change the amount of capital maintained or
         required or requested or directed to be maintained by any Affected
         Party; or

                  (d)      shall impose on any Affected Party any other
         condition affecting any Loan made or funded by any Affected Party;

and the result of any of the foregoing is or would be to (i) increase the cost
to or to impose a cost on (I) an Affected Party funding or making or maintaining
any Loan (including extensions of credit under the Liquidity Agreement, the
Voluntary Advance Agreement or any Credit Advance, or any commitment of such
Affected Party with respect to any of the foregoing), or (II) Administrator for
continuing its or Borrower's relationship with Lender, (ii) to reduce the amount
of any sum received or receivable by an Affected Party under this Agreement, the
Lender Note, the Liquidity Agreement, the Voluntary Advance Agreement or the
Credit Agreement with respect thereto, or (iii) in the good faith determination
of such Affected Party, to reduce the rate of return on the capital of an
Affected Party as a consequence of its obligations hereunder, or under the
Liquidity Agreement, the Voluntary Advance Agreement or Credit

                                       28
<PAGE>   35

Agreement, or arising in connection herewith or therewith to a level below that
which such Affected Party could otherwise have achieved, then after demand by
such Affected Party to Borrower (which demand shall be accompanied by a written
statement setting forth the basis of such demand), Borrower shall pay such
Affected Party such additional amount or amounts as will (in the reasonable
determination of such Affected Party) compensate such Affected Party for such
increased cost or such reduction. Such written statement (which shall include
calculations in reasonable detail) shall, in the absence of manifest error, be
rebuttably presumptive evidence of the subject matter thereof.

                  Section 6.2       Funding Losses. Borrower hereby agrees that
upon demand by any Affected Party (which demand shall be accompanied by a
statement setting forth the basis for the calculations of the amount being
claimed), Borrower will indemnify such Affected Party against any net loss or
expense which such Affected Party may sustain or incur (including, without
limitation, any net loss or expense (not including lost profits) incurred by
reason of the liquidation or reemployment of deposits or other funds acquired by
such Affected Party to fund or maintain any Allocation made by Lender to
Borrower), as reasonably determined by such Affected Party, as a result of (a)
any payment or prepayment (including any mandatory prepayment) of any Allocation
on a date other than the last day of the Interest Period for such Allocation, or
(b) any failure of Borrower to borrow any Loan on a date specified therefor in a
related Borrowing Request. Such written statement shall, in the absence of
manifest error, be rebuttably presumptive evidence of the subject matter
thereof.

                  Section 6.3       Withholding Taxes.

                  (a)      All payments made by Borrower hereunder (or by
Servicer, on behalf of Borrower, hereunder) shall be made free and clear of, and
without reduction or withholding for or on account of, any present or future
Covered Taxes, now or hereafter imposed, levied, collected, withheld or assessed
by any Governmental Authority or other taxing authority. If any Covered Taxes
are required to be withheld from any amounts payable to Administrator or Lender,
the amounts so payable to Administrator or Lender shall be increased to the
extent necessary to yield to Administrator or Lender (after payment of all such
Covered Taxes) all such amounts payable hereunder at the rates or in the amounts
specified herein. Whenever any Covered Taxes are payable by Borrower, as
promptly as possible thereafter, Borrower shall send to Administrator for its
own account or for the account of Lender, as the case may be, a certified copy
of an original official receipt received by Borrower showing payment thereof. If
Borrower fails to pay any Covered Taxes when due to the appropriate taxing
authority or fails to remit to Administrator the required documentary evidence,
Borrower shall indemnify Administrator and Lender for such Covered Taxes and any
incremental taxes that may become payable by Administrator or Lender as a result
of any such failure.

                  (b)      At least five (5) Business Days prior to the first
date on which any payments, including discount or Fees, are payable hereunder
for the account of Lender, if Lender is not incorporated under the laws of the
United States, Lender agrees to deliver to each of Borrower and Administrator
two (2) duly completed copies of (i) United States Internal Revenue Service

                                       29
<PAGE>   36

Form W-8BEN or W-8ECI (or successor applicable form) certifying that such Lender
is entitled to receive payments hereunder without deduction or withholding of
any United States federal income taxes or (ii) United States Internal Revenue
Service Form W-8 or W-9 (or successor applicable form) to establish an exemption
from United States backup withholding tax. Lender shall replace or update such
forms as is necessary or appropriate to maintain any applicable exemption or as
is requested by Administrator or Borrower. If Lender does not deliver the forms
described in this Section 6.3(b), Borrower or Administrator shall withhold
United States federal income taxes from any payments made hereunder at the
statutory rate applicable to payments made to Lender. Lender agrees to indemnify
and hold Borrower and Administrator harmless for any United States federal
income taxes, penalties, interest and other costs and losses incurred or payable
by Borrower or Administrator as a result of either (x) Lender's failure to
submit any form required to be provided pursuant to this Section 6.3(b) or (y)
Borrower's or Administrator's reliance on any form that Lender has provided
pursuant to this Section 6.3(b).

                                  ARTICLE VII.
                             CONDITIONS TO BORROWING

                  Section 7.1       Initial Loan. The obligation of Lender to
make the initial Loan hereunder is subject to the conditions precedent that
Administrator shall have received all of the following, each duly executed and
dated the date of such Loan (or such earlier date as shall be satisfactory to
Administrator), in form and substance satisfactory to Administrator:

                           7.1.1    Resolutions. Certified copies of resolutions
         of the Board of Directors of Borrower, Servicer, Performance Guarantor,
         Parent SPE and each Originator authorizing or ratifying the execution,
         delivery and performance, respectively, of the Transaction Documents to
         which it is a party, together with a certified copy of its Organization
         Documents.

                           7.1.2    Consents, etc. Certified copies of all
         documents evidencing any necessary corporate action, consents and
         governmental approvals (if any) with respect to the Transaction
         Documents.

                           7.1.3    Incumbency and Signatures. A certificate of
         the Secretary or an Assistant Secretary of Borrower, Servicer,
         Performance Guarantor, Parent SPE and each Originator certifying the
         names of its officer or officers authorized to sign the Transaction
         Documents to which it is a party.

                           7.1.4    Good Standing Certificates. Good standing
         certificates for Borrower, Servicer, Performance Guarantor, Parent SPE
         and each Originator issued as of a recent date acceptable to
         Administrator by the Secretary of State of the jurisdiction of such
         Person's incorporation or organization.

                           7.1.5    Financing Statements. (i) Acknowledgment
         copies of proper financing statements (Form UCC-1), filed on or prior
         to the date of the initial Loan, naming Borrower as debtor and
         Administrator (for the benefit

                                       30
<PAGE>   37

         of the Secured Parties) as the secured party as may be necessary or, in
         the opinion of Administrator, desirable under the UCC to perfect
         Administrator's (for the benefit of the Secured Parties) security
         interest in the Collateral, (ii) acknowledgment copies of proper
         financing statements, filed on or prior to the date of the initial
         Loan, naming Parent SPE as seller/debtor, Borrower as purchaser/secured
         party and Administrator as assignee as may be necessary or, in the
         opinion of Administrator, desirable under the UCC to perfect Parent
         SPE's ownership interest in the Receivables, (iii) acknowledgment
         copies of proper financing statements (Form UCC-3), filed on or prior
         to the date of the initial Loan, naming each Originator as
         seller/debtor, Parent SPE as purchaser/secured party and Borrower as
         assignee, as may be necessary or, in the opinion of Administrator,
         desirable under the UCC to perfect Borrower's ownership interest in the
         Receivables, (iv) acknowledgment copies of proper financing statement
         assignments with respect to each of the financing statements described
         in clause (iii) above, filed on or prior to the date of the initial
         Loan, naming Administrator as assignee, and (v) executed copies of
         proper Uniform Commercial Code Form UCC-3 termination statements, if
         any, necessary to release all liens and other Adverse Claims of any
         Person in the Collateral granted by Borrower, Parent SPE or Originator.

                           7.1.6    Search Reports. A written search report
         provided to Administrator by a search service acceptable to
         Administrator listing all effective financing statements that name
         Borrower, Parent SPE or any Originator as debtor or assignor and that
         are filed in the jurisdictions in which filings were made pursuant to
         Section 7.1.5 above and in such other jurisdictions that Administrator
         shall reasonably request, together with copies of such financing
         statements (none of which shall cover any Collateral or interests
         therein or proceeds of any thereof), and tax and judgment lien search
         reports from a Person satisfactory to Administrator showing no evidence
         of such lien filed against Borrower or Originator.

                           7.1.7    Fee Letter; Payment of Fees. The Fee Letter,
         together with all outstanding Fees payable pursuant to the Fee Letter.

                           7.1.8    First Step Sale Agreement and Receivables
         Sale Agreement. (i) Duly executed and delivered counterparts of each of
         the Receivables Sale Agreement, the First Step Sale Agreement and all
         documents, agreements and instruments contemplated thereby, and (ii)
         evidence that each of the conditions precedent to the execution and
         delivery of each of the First Step Sale Agreement and the Receivables
         Sale Agreement has been satisfied to Administrator's satisfaction, and
         that the initial assignments and transfers under the First Step Sale
         Agreement and the Receivables Sale Agreement have been consummated.

                           7.1.9    Opinions of Counsel. Opinions of counsel to
         Borrower, Servicer, Performance Guarantor, Parent SPE and Originators
         in form and substance satisfactory to Administrator.

                           7.1.10   Lender Note. The Lender Note, duly executed
         by Borrower.

                                       31
<PAGE>   38

                           7.1.11   Borrowing Base Certificate. A Borrowing Base
         Certificate, duly executed by an officer of Servicer on Borrower's
         behalf showing a calculation of the Borrowing Base as of the date of
         such initial Loan.

                           7.1.12   Lock Box and Blocked Account Agreements. The
         Lock Box and Blocked Account Agreements, duly executed by all of the
         parties thereto.

                           7.1.13   Releases. Releases and termination
         statements duly executed by each Person, other than Borrower, that has
         an interest in the Receivables.

                           7.1.14   Performance Undertaking. The Performance
         Undertaking, duly executed by the Performance Guarantor.

                           7.1.15   Other. Such other documents, certificates
         and opinions as Administrator may request.

                  Section 7.2       All Loans. The making of each Loan,
including without limitation, the initial Loan, is subject to the conditions
precedent that:

                           7.2.1    No Default, etc. (i) No Significant Event,
         Unmatured Significant Event or Servicer Event of Default has occurred
         and is continuing or will result from the making of such Loan, (ii) the
         representations and warranties of Borrower contained in Article VIII
         are true and correct in all material respects as of the date of such
         requested Loan, with the same effect as though made on the date of such
         Loan except for such representations and warranties that expressly
         refer to a different date; PROVIDED THAT the materiality threshold in
         the preceding clause shall not be applicable with respect to any
         representation or warranty which itself contains a materiality
         threshold, and (iii) after giving effect to such Loan, the aggregate
         unpaid balance of the Loans will not exceed the Borrowing Base or the
         Facility Limit. By making a Borrowing Request, Borrower shall be deemed
         to have represented and warranted that items (i), (ii) and (iii) in the
         preceding sentence are true and correct.

                           7.2.2    Borrowing Request, etc. Administrator shall
         have received a Borrowing Request for such Loan in accordance with
         Section 2.2, together with all items required to be delivered in
         connection therewith.

                           7.2.3    Commitment Termination Date. The Commitment
         Termination Date shall not have occurred.

                           7.2.4    Collateral Review. Administrator shall have
         received the most-recent Collateral Review pursuant to Section
         9.1.5(c).

                           7.2.5    Accounts. The Depository Accounts and the
         LockBox Accounts shall have been established and shall be subject to
         valid and perfected first priority security interests in favor of
         Administrator for the benefit of the Secured Parties.

                                       32
<PAGE>   39

                                 ARTICLE VIII.
                         REPRESENTATIONS AND WARRANTIES

                  In order to induce Lender and Administrator to enter into this
Agreement and, in the case of Lender, to make Loans hereunder, Borrower hereby
represents and warrants to Administrator and Lender as to itself as follows, and
Servicer hereby represents and warrants to Administrator and Lender as to itself
as follows:

                  Section 8.1       Existence and Power. Servicer is a
corporation duly organized under the laws of the State of Georgia. Borrower is a
corporation duly organized under the laws of the State of Delaware. Each of
Servicer and Borrower is validly existing and in good standing under the laws of
its state of incorporation and is duly qualified to do business and is in good
standing as a foreign corporation, and has and holds all corporate power and all
governmental licenses, authorizations, consents and approvals required to carry
on its business in each jurisdiction in which its business is conducted except
where the failure to so qualify or so hold could not reasonably be expected to
have a Material Adverse Effect.

                  Section 8.2       Power and Authority; Due Authorization,
Execution and Delivery. The execution and delivery by each of Servicer and
Borrower of this Agreement and each other Transaction Document to which it is a
party, and the performance of its obligations hereunder and thereunder, and
Borrower's use of the proceeds of the Loans made hereunder, are within its
corporate powers and authority and have been duly authorized by all necessary
corporate action on its part. This Agreement and each other Transaction Document
to which Servicer or Borrower is a party has been duly executed and delivered by
Servicer or Borrower, as the case may be.

                  Section 8.3       No Conflict. The execution and delivery by
each of Borrower and Servicer of this Agreement and each other Transaction
Document to which it is a party, and the performance of its obligations
hereunder and thereunder do not contravene or violate (i) its Organizational
Documents, (ii) any law, rule or regulation applicable to it, (iii) any
restrictions under any agreement, contract or instrument to which it is a party
or by which it or any of its property is bound, or (iv) any order, writ,
judgment, award, injunction or decree binding on or affecting it or its
property, and do not result in the creation or imposition of any Adverse Claim
on its assets (except as created under the Transaction Documents) except, in any
case described in clauses (i)-(iv) inclusive, where such contravention or
violation could not reasonably be expected to have a Material Adverse Effect;
and no transaction contemplated hereby requires compliance with any bulk sales
act or similar law.

                  Section 8.4       Governmental Authorization. Other than the
filing of the financing statements required hereunder, no authorization or
approval or other action by, and no notice to or filing with, any governmental
authority or regulatory body is required for the due execution and delivery by
Servicer or Borrower of this Agreement and each other Transaction Document to
which it is a party and the performance of its obligations hereunder and
thereunder.

                  Section 8.5       Actions, Suits. Except as disclosed in the
SEC Filings, there is no litigation, arbitration, governmental investigation,
proceeding or inquiry pending or, to the knowledge of any of their officers,
threatened against or affecting Borrower, Servicer or any of

                                       33
<PAGE>   40

Servicer's Subsidiaries which could reasonably be expected to have a Material
Adverse Effect or which seeks to prevent, enjoin or delay the making or
repayment of any Loans. Other than any liability incident to any litigation,
arbitration or proceeding which could not reasonably be expected to have a
Material Adverse Effect, Servicer and its Subsidiaries have no material
contingent obligations not provided for or disclosed in the SEC Filings.

                  Section 8.6       Binding Effect. This Agreement and each
other Transaction Document to which Servicer or Borrower is a party constitute
the legal, valid and binding obligations of Servicer or Borrower, as the case
may be, enforceable against it in accordance with their respective terms, except
as such enforcement may be limited by applicable bankruptcy, insolvency,
reorganization or other similar laws relating to or limiting creditors' rights
generally and by general principles of equity (regardless of whether enforcement
is sought in a proceeding in equity or at law).

                  Section 8.7       Accuracy of Information. All written
information heretofore furnished by Borrower, Servicer or any of their
respective Affiliates for purposes of or in connection with this Agreement, any
of the other Transaction Documents or any transaction contemplated hereby or
thereby is, and all such written information hereafter furnished by Borrower,
Servicer or any of their respective Affiliates will be, true and accurate in
every material respect on the date such information is stated or certified and
does not and will not contain any material misstatement of fact or omit to state
a material fact or any fact necessary to make the statements contained therein,
taken as a whole, not misleading.

                  Section 8.8       Margin Regulations; Use of Proceeds.
Borrower is not engaged in the business of extending credit for the purpose of
purchasing or carrying margin stock, and no proceeds of any Loans, directly or
indirectly, will be used for a purpose that violates, or would be inconsistent
with, Regulations T, U and X promulgated by the Federal Reserve Board from time
to time. No portion of the proceeds of any Loan hereunder will be used for a
purpose that violates, or would be inconsistent with, any other law, rule or
regulation applicable to Borrower.

                  Section 8.9       Good Title. Borrower (i) is the legal and
beneficial owner of the Receivables and (ii) is the legal and beneficial owner
of the Related Security with respect thereto or possesses a valid and perfected
security interest therein, in each case, free and clear of any Adverse Claim,
except as created by the Transaction Documents. There have been duly filed all
financing statements or other similar instruments or documents necessary under
the UCC (or any comparable law) of all appropriate jurisdictions to perfect
Borrower's ownership interest in each such Receivable, its Collections and the
Related Security except for Excluded Items.

                  Section 8.10      Perfection. This Agreement is effective to
create a valid security interest in the Collateral favor of Administrator, for
the benefit of the Secured Parties. There have been duly filed all financing
statements or other similar instruments or documents necessary under the UCC (or
any comparable law) of all appropriate jurisdictions to perfect Administrator's
security interest, for the benefit of the Secured Parties, in the Collateral
(except for Excluded Items). The Collateral is free of any Adverse Claim except
as created under the Transaction Documents.

                                       34
<PAGE>   41

                  Section 8.11      Chief Executive Office. The chief executive
office of Borrower is located in the State of Delaware (or at such other
location, notified to Administrator in a jurisdiction where all action required
to perfect or maintain the perfection of Administrator's security interest in
the Collateral has been taken). Borrower's Federal Employer Identification
Number is 58-2630504.

                  Section 8.12      Accounts. Borrower represents and warrants
that (a) Schedule 8.12 hereto is a complete and accurate listing, as of the
Closing Date, of the LockBoxes, LockBox Accounts and Depository Accounts, and
(b) each of the LockBox Accounts and Depository Accounts has been established
in, or transferred into, Borrower's name. Neither Servicer nor Borrower has
granted any interest in any LockBox, any LockBox Account or any Depository
Account to any Person other than Administrator, and Administrator has exclusive
control of the LockBox Accounts and the Depository Accounts.

                  Section 8.13      No Material Adverse Effect. Since December
31, 2000, no event has occurred that could reasonable be expected to have a
Material Adverse Effect.

                  Section 8.14      Names. The name in which Borrower has
executed this Agreement is identical to the name of Borrower as indicated on the
public record of the State of Delaware. Borrower has not used any corporate
name, trade name or assumed name other than the name in which it has executed
this Agreement.

                  Section 8.15      Ownership of Borrower; No Subsidiaries. All
of the issued and outstanding equity interests of Borrower are owned
beneficially and of record by Parent SPE, free and clear of any Adverse Claim.
Such equity interests are validly issued, fully paid and nonassessable, and
there are no options, warrants or other rights to acquire securities of
Borrower. Borrower has no Subsidiaries.

                  Section 8.16      Not a Holding Company or an Investment
Company. Neither Borrower nor Servicer is a "holding company" or a "subsidiary
holding company" of a "holding company" within the meaning of the Public Utility
Holding Company Act of 1935, as amended, or any successor statute. Neither
Borrower nor Servicer is an "investment company" within the meaning of the
Investment Company Act of 1940, as amended, or any successor statute.

                  Section 8.17      Compliance with Credit and Collection
Policy. Each of Borrower and Servicer has complied in all material respects with
the Credit and Collection Policy with regard to each Receivable and the related
Contract, and has not made any change to such Credit and Collection Policy,
except such material change as to which Administrator has given its prior
written consent.

                  Section 8.18      Solvency. Both before and after giving
effect to each Loan, Borrower is Solvent.

                  Section 8.19      Eligible Receivables. Each Receivable
included in the Borrowing Base as an Eligible Receivable as of the date of (a)
any Borrowing Base Certificate, (c) any Monthly Report or (c) the making of any
Loan, is an Eligible Receivable on such date.

                                       35
<PAGE>   42
                  Section 8.20      Sales by Originator. Each sale of
Receivables by Originator to Borrower shall have been effected under, and in
accordance with the terms of, the Receivables Sale Agreement, including the
payment by Borrower to Originator of an amount equal to the purchase price
therefor as described in the Receivables Sale Agreement, and each such sale
shall have been made for "reasonably equivalent value" (as such term is used
under ss.548 of the Bankruptcy Code) and not for or on account of "antecedent
debt" (as such term is used under ss.547 of the Bankruptcy Code) owed by
Borrower to Originator.

                                  ARTICLE IX.
                       COVENANTS OF BORROWER AND SERVICER

                  Section 9.1       Affirmative Covenants. From the date hereof
until the first day, following the Commitment Termination Date, on which all
Obligations shall have been finally and fully paid and performed, each of
Borrower and Servicer hereby covenants and agrees with Lender and Administrator
that as to itself, as follows:

                           9.1.1    Compliance with Laws, Etc. Each of Borrower
         and Servicer will comply in all material respects with all applicable
         laws, rules, regulations and orders of all governmental authorities
         (including those which relate to the Receivables).

                           9.1.2    Preservation of Corporate Existence. Each of
         Borrower and Servicer will preserve and maintain its existence rights,
         franchises and privileges in the jurisdiction of its incorporation or
         organization, and qualify and remain qualified in good standing as a
         foreign entity in the jurisdiction where its principal place of
         business and its chief executive office are located and in each other
         jurisdiction where the failure to preserve and maintain such existence,
         rights, franchises, privileges and qualifications would have a Material
         Adverse Effect.

                           9.1.3    Performance and Compliance with Receivables.
         Each of Borrower and Servicer will timely and fully perform and comply
         with all provisions, covenants and other promises required to be
         observed by it under the Receivables and all other agreements related
         to such Receivables.

                           9.1.4    Credit and Collection Policy. Each of
         Borrower and Servicer will comply in all material respects with the
         Credit and Collection Policy.

                           9.1.5    Reporting Requirements. Each of Borrower and
         Servicer will furnish to Administrator and Lender:

                                    (a)      Financial Statements.

                  (i)      as soon as available, and in any event within 95 days
         after the end of each year, a copy of the balance sheet of Borrower, in
         each case, as at the end of such year, together with the related
         statement of earnings for such year, certified by the chief executive
         officer, chief financial officer or controller of Borrower

                                       36
<PAGE>   43

         (which certification shall state that such balance sheet and statement
         or earnings fairly present the financial condition and results of
         operations for such year in accordance with GAAP except for the absence
         of footnotes), together with a certificate of such officer stating that
         such officer has obtained no knowledge that a Significant Event or
         Unmatured Significant Event has occurred and is continuing, or if, in
         the opinion of such officer, such a Significant Event or Unmatured
         Significant Event has occurred and is continuing, a statement as to the
         nature thereof;

                  (ii)     as soon as available and in any event within 95 days
         after the end of each year, the financial statements and certificate of
         ChoicePoint required to be delivered under Section 4.1(a)(i) of the
         Receivables Sale Agreement; and

                  (iii)    as soon as available and in any event within 50 days
         after the end of each fiscal quarter the financial statements of
         ChoicePoint required to be delivered under Section 4.1(a)(ii) of the
         Receivables Sale Agreement, certified by the Chief Executive Officer or
         a Financial Officer of Choice Point, Inc. (which certification shall
         state that such balance sheets and statements fairly present the
         financial condition and results of operations for such fiscal quarter,
         subject to year-end audit adjustments) (it being understood that
         delivery of ChoicePoint's Form 10-Q filed with the Securities and
         Exchange Commission for such fiscal quarter will satisfy the foregoing
         requirement), delivery of which financial statements shall be
         accompanied by a certificate of such officer to the effect that no
         Significant Event or Unmatured Significant Event has occurred and is
         continuing.

                                    (b)      Borrowing Base Certificates and
         Monthly Reports.

                  (i)      On or before the 6th Business Day and 20th calendar
         day of each month after the Closing Date (or if the 20th of any month
         is not a Business Day, the Business Day immediately thereafter),
         Servicer shall prepare and deliver to Administrator and Lender a
         Borrowing Base Certificate as of the last Business Day of the
         semi-monthly period then most recently ended, signed by an authorized
         officer of Servicer; and

                  (ii) On or before the 20th day of each month after the Closing
         Date (or, if such day is not a Business Day, the Business Day
         immediately thereafter), Servicer shall prepare and deliver to
         Administrator and Lender a Monthly Report as of the last day of the
         month then most recently ended, signed by an authorized officer of
         Servicer.

                                    (c)      Significant Events. As soon as
         possible but in any event within one (1) Business Day after any
         Executive Officer of Borrower or Servicer becomes aware of the
         occurrence of a Significant Event or an Unmatured Significant Event,
         Borrower or Servicer, as the case may be, will deliver to Administrator
         and Lender an Executive Officer's certificate of Borrower setting

                                       37
<PAGE>   44

         forth details of such event and the action that Borrower or Servicer,
         as the case may be, proposes to take with respect thereto.

                                    (d)      Servicing Certificate. Servicer
         shall deliver, or cause to be delivered, to Administrator, on or before
         the date that is 95 days after the end of each year, an officer's
         certificate signed by the president, chief executive officer or any
         vice president of Servicer, dated as of the last day of the preceding
         year, stating that (a) a review of the activities of Servicer during
         the preceding 12-month period and of its performance under this
         Agreement has been made under such officer's supervision and (b) to the
         best of such officer's knowledge, based on such review, Servicer has
         fulfilled its obligations under the Agreement throughout such year and
         has complied in all material respects with the Credit and Collection
         Policy, or, if there has been a default in the fulfillment of any such
         obligation, specifying each such default known to such officer and the
         nature and status thereof.

                                    (e)      Collateral Review. As soon as
         possible, and in any event within sixty (60) days after the Closing
         Date, and after each semi-annual period thereafter, a report of the
         independent certified public accountants of ChoicePoint (each such
         report, a "COLLATERAL REVIEW") which satisfies the requirements set
         forth on Schedule 9.1.5.

                                    (f)      Other. Promptly, from time to time,
         such other information, documents, records or reports respecting the
         Collateral, the Receivables or the condition or operations, financial
         or otherwise, of Borrower or Originator as Administrator may from time
         to time reasonably request in order to protect the interests of
         Administrator or Lender under or as contemplated by this Agreement or
         the other Transaction Documents.

                           9.1.6    Use of Proceeds. Borrower will use the
         proceeds of the Loans made hereunder solely in connection with the
         acquisition or funding of Receivables or the repayment of amounts owed
         under the Subordinated Note in connection therewith.

                           9.1.7    Separate Legal Entity. Borrower hereby
         acknowledges that Lender and Administrator are entering into the
         transactions contemplated by this Agreement and the other Transaction
         Documents in reliance upon Borrower's identity as a legal entity
         separate from any other Person. Therefore, from and after the date
         hereof, Borrower shall take all reasonable steps to continue Borrower's
         identity as a separate legal entity and to make it apparent to third
         Persons that Borrower is an entity with assets and liabilities distinct
         from those of any other Person, and is not a division of any other
         Person. Without limiting the generality of the foregoing and in
         addition to and consistent with the covenant set forth in Section
         9.1.2, Borrower shall take such actions as shall be required in order
         that:

                                       38
<PAGE>   45

                                    (a)      Borrower will be a limited purpose
         corporation whose primary activities are restricted in its certificate
         of incorporation to owning financial assets and financing the
         acquisition thereof and conducting such other activities as it deems
         necessary or appropriate to carry out its primary activities;

                                    (b)      Not less than one member of
         Borrower's Board of Directors (each, an "INDEPENDENT DIRECTOR") shall
         be an individual who is not, and during the past five (5) years has not
         been, a director, officer, employee or 5% beneficial owner of the
         outstanding common stock of any Person or entity beneficially owning
         any outstanding shares of common stock of ChoicePoint or any Affiliate
         thereof; PROVIDED, HOWEVER, that an individual shall not be deemed to
         be ineligible to be an Independent Director solely because such
         individual serves or has served in the capacity of an "independent
         director" or similar capacity for special purpose entities formed by
         ChoicePoint or any of its Affiliates. The certificate of incorporation
         of Borrower shall provide that (i) the Board of Directors shall not
         approve, or take any other action to cause the filing of, a voluntary
         bankruptcy petition with respect to Borrower unless the Independent
         Directors shall approve the taking of such action in writing prior to
         the taking of such action, and (ii) such provision cannot be amended
         without the prior written consent of the Independent Directors;

                                    (c)      Any employee, consultant or agent
         of Borrower will be compensated from funds of Borrower, as appropriate,
         for services provided to Borrower;

                                    (d)      Borrower will allocate and charge
         fairly and reasonably overhead expenses shared with any other Person.
         To the extent, if any, that Borrower and any other Person share items
         of expenses such as legal, auditing and other professional services,
         such expenses will be allocated to the extent practical on the basis of
         actual use or the value of services rendered, and otherwise on a basis
         reasonably related to the actual use or the value of services rendered;
         Borrower's operating expenses will not be paid by any other Person
         except as permitted under the terms of this Agreement or otherwise
         consented to by Administrator and Lender;

                                    (e)      Borrower's books and records will
         be maintained separately from those of any other Person;

                                    (f)      All audited financial statements of
         any Person that are consolidated to include Borrower will contain
         detailed notes clearly stating that (A) all of Borrower's assets are
         owned by Borrower, and (B) Borrower is a separate corporate entity;

                                    (g)      Borrower's assets will be
         maintained in a manner that facilitates their identification and
         segregation from those of any other Person;

                                       39
<PAGE>   46

                                    (h)      Borrower will strictly observe
         corporate formalities in its dealings with all other Persons, and funds
         or other assets of Borrower will not be commingled with those of any
         other Person;

                                    (i)      Borrower shall not, directly or
         indirectly, be named or enter into an agreement to be named, as a
         direct or contingent beneficiary or loss payee, under any insurance
         policy with respect to any amounts payable due to occurrences or events
         related to any other Person; and

                                    (j)      Any Person that renders or
         otherwise furnishes services to Borrower will be compensated thereby at
         market rates for such services it renders or otherwise furnishes
         thereto. Borrower will not hold itself out to be responsible for the
         debts of any other Person or the decisions or actions respecting the
         daily business and affairs of any other Person.

                           9.1.8    Adverse Claims on Receivables. Each of
         Borrower and Servicer will, and will require Originator to, defend each
         Receivable against all claims and demands of all Persons at any time
         claiming the same or any interest therein adverse to Administrator and
         the Secured Parties.

                           9.1.9    Further Assurances. At its expense, each of
         Borrower and Servicer will perform all acts and execute all documents
         reasonably requested by Administrator at any time to evidence, perfect,
         maintain and enforce the title or the security interest of
         Administrator in the Receivables and the priority thereof. Borrower
         will, at the reasonable request of Administrator, execute (if required
         by applicable law) and deliver financing statements relating to or
         covering the Collateral and, where permitted by law, Borrower hereby
         authorizes Administrator to file one or more financing statements
         covering the Collateral without Borrower's signature. Borrower shall,
         and shall cause Originator to, cause its computer records, master data
         processing records and other books and records relating to the
         Receivables to be marked, with a legend stating that the Receivables
         have been sold to Borrower and that the Collateral has been pledged to
         Administrator for the benefit of the Secured Parties.

                           9.1.10   Servicing. Servicer shall use all reasonable
         measures to prevent or minimize any loss being realized on a Receivable
         and shall take all reasonable steps to recover the full amount of such
         loss. Borrower and Servicer shall, at their own expense, take such
         steps as are necessary to maintain perfection of the security interest
         created by each Receivable in the related goods and merchandise subject
         thereto. Servicer shall use its best efforts, consistent with prudent
         servicing procedures, to repossess or otherwise convert the ownership
         of the goods or merchandise securing any Receivable which becomes a
         Defaulted Receivable. Servicer shall follow such practices and
         procedures for servicing the Receivables as would be customary and
         usual for a prudent servicer under similar circumstances, including
         using reasonable efforts to realize upon any recourse to the Obligors
         and selling the goods securing a Receivable at a public or private
         sale.

                                       40
<PAGE>   47

                           9.1.11   Inspection. Each of Borrower and Servicer
         shall permit Lender, Administrator or their duly authorized
         representatives, attorneys or auditors to inspect the Receivables, the
         Receivable Files, Documents and the related accounts, records and
         computer systems, software and programs used or maintained by Borrower
         or Servicer at such times as Lender or Administrator may reasonably
         request. Upon instructions from Lender or Administrator, each of
         Borrower and Servicer shall release any document in its possession
         related to any Receivables to Lender or Administrator, as the case may
         be, or to the Servicer, if requested by Lender or Administrator.

                           9.1.12   Cooperation. Each of Borrower and Servicer
         shall provide such cooperation, information and assistance, and prepare
         and supply Administrator with such data regarding the performance by
         the Obligors of their obligations under the Receivables and the
         performance by Borrower and Servicer of their respective obligations
         under the Transaction Documents, as may be reasonably requested by
         Administrator from time to time.

                           9.1.13   Facility. Servicer shall maintain its
         facility from which it services the Receivables in its present
         condition, ordinary wear and tear excepted, or such other facility of
         similar quality, security and safety as Servicer may select from time
         to time. Servicer shall make all property tax payments, lease payments
         and all other payments with respect to such facility. Servicer shall
         (i) ensure that Administrator shall have complete and unrestricted
         access, at Servicer's expense, to such facility and all computers and
         other systems relating to the servicing of the Receivables and all
         persons employed at such facility, (ii) use all commercially reasonable
         efforts to retain the employees based at such facility to provide
         assistance to Administrator and (iii) continue to store on a daily
         basis all back-up files relating to the Receivables and the servicing
         of the Receivables at the facilities of ChoicePoint, or such other
         storage facility of similar quality, security and safety as Servicer
         may select from time to time, in the case of each of clauses (i), (ii)
         and (iii) until the receipt of all Collections in respect of all
         Receivables or all Receivables have been written off in accordance with
         the Credit and Collection Policy.

                           9.1.14   Accounts. Borrower shall not maintain any
         bank accounts other than the accounts described on Schedule 8.12.
         Except as set forth in the last sentence of Section 11.2.3(b), neither
         Borrower nor Servicer shall make, nor will either of them permit
         Originator to make, any change in its instructions to Obligors
         regarding payments to be made to a LockBox. Neither Borrower nor
         Servicer will, nor will either of them permit Originator to (a) add or
         close any Depository Account or (b) add any LockBox Account Bank or
         Lock Box Account to those listed on Schedule 8.12 unless Administrator
         shall have consented thereto and received a copy of any new duly
         executed LockBox and Blocked Account Agreement. Neither Borrower nor
         Servicer will, nor will either of them permit Originator to, change any
         LockBox Account Bank or close any LockBox or LockBox Account unless
         Administrator shall have received at least thirty (30) days' prior
         notice of such termination and (i) in the case of a closed LockBox, all

                                       41
<PAGE>   48

         applicable Obligors have been notified to make payments to another
         LockBox that clears through a LockBox Account which is subject to a
         LockBox and Blocked Account Agreement, or (ii) in the case of
         termination of a LockBox Bank or closing of a LockBox Account, a new
         LockBox and Blocked Account Agreement is entered into with respect to
         any new or replacement LockBox Account or LockBox Account Bank.

                  Section 9.2       Negative Covenants. From the date hereof
until the first day, following the Commitment Termination Date, on which all
Obligations shall have been finally and fully paid and performed, each of
Borrower and Servicer hereby covenants and agrees as to itself as follows:

                           9.2.1    Sales, Liens, Etc. Except pursuant to, or as
         contemplated by, the Transaction Documents, Borrower shall not sell,
         assign (by operation of law or otherwise) or otherwise dispose of, or
         create or suffer to exist voluntarily or involuntarily any Adverse
         Claims upon or with respect to any of its assets, including, without
         limitation, the Collateral, any interest therein or any right to
         receive any amount from or in respect thereof.

                           9.2.2    Mergers, Acquisitions, Sales, Subsidiaries,
         etc. Borrower shall not:

                  (a)      be a party to any merger or consolidation, or
         directly or indirectly purchase or otherwise acquire all or
         substantially all of the assets or any stock of any class of, or any
         partnership or joint venture interest in, any other Person, except for
         Permitted Investments, or sell, transfer, assign, convey or lease any
         of its property and assets (or any interest therein) other than
         pursuant to, or as contemplated by, this Agreement or the other
         Transaction Documents;

                  (b)      make, incur or suffer to exist an investment in,
         equity contribution to, loan or advance to, or payment obligation in
         respect of the deferred purchase price of property from, any other
         Person, except for Permitted Investments or pursuant to the Transaction
         Documents;

                  (c)      create any direct or indirect Subsidiary or otherwise
         acquire direct or indirect ownership of any equity interests in any
         other Person other than pursuant to the Transaction Documents; or

                  (d)      enter into any transaction with any Affiliate except
         for the transactions contemplated by the Transaction Documents and
         other transactions upon fair and reasonable terms materially no less
         favorable to Borrower than would be obtained in a comparable arm's
         length transaction with a Person not an Affiliate.

                           9.2.3    Change in Business; Change in Credit and
         Collection Policy. Borrower will not make any change in the character
         of its business. Neither Borrower nor Servicer will make any change in
         the Credit and Collection Policy that could adversely affect the
         collectibility of any Receivable.

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<PAGE>   49

                           9.2.4    Other Debt. Borrower will not incur any Debt
         to any Person other than pursuant to this Agreement, the Receivables
         Sale Agreement or otherwise in connection with a transaction involving
         Lender, Bank, any Credit Bank, any Liquidity Bank or any other Persons
         providing liquidity or credit support to Lender.

                           9.2.5    Certificate of Incorporation and By-Laws.
         Borrower shall not amend its certificate of incorporation or by-laws.

                           9.2.6    Chief Executive Office. Borrower shall not
         move its chief executive office or permit the documents and records
         evidencing the Receivables to be moved unless (i) Borrower or Servicer,
         as the case may be, shall have given to Administrator prior written
         notice thereof, clearly describing the new location, and (ii) Borrower
         shall have taken such action, satisfactory to Administrator, to
         maintain the title or ownership of Borrower and any security interest
         of Administrator in the Collateral at all times fully perfected and in
         full force and effect. Servicer shall not, in any event, move the
         location where it conducts the servicing and collection of the
         Receivables from the address referred to on Schedule 15.3 to this
         Agreement, without the prior written consent of Administrator, which
         consent shall not be unreasonably withheld or delayed.

                           9.2.7    Financing Statements. Borrower shall not
         execute any effective financing statement (or similar statement or
         instrument of registration under the laws of any jurisdiction) or
         statements relating to any Receivables other than the financing
         statements described in Section 7.1.5.

                           9.2.8    Business Restrictions. Borrower shall not
         (i) engage in any business other than the acquisition, financing and
         collection of Receivables and other Collateral, (ii) engage in any
         transactions or be a party to any documents, agreements or instruments,
         other than the Transaction Documents and those incidental to the
         purposes thereof, or (iii) incur any trade payables (other than for
         professional fees incurred in the ordinary course of business) or other
         liabilities not constituting Debt permitted under Section 9.2.4 if such
         the aggregate outstanding balance of such trade payables and other
         liabilities would at any time exceed $10,700.

                           9.2.9    Other Agreements; Performance Undertaking.
         Borrower will not amend, restate, supplement, cancel, terminate or
         otherwise modify the First Step Sale Agreement, the Receivables Sale
         Agreement or the Performance Undertaking, or give any consent, waiver,
         directive or approval thereunder or waive any default, action, omission
         or breach under any of the foregoing or otherwise grant any indulgence
         thereunder, without (in each case) the prior written consent of
         Administrator.

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<PAGE>   50

                                   ARTICLE X.
                      SIGNIFICANT EVENTS AND THEIR EFFECT

                  Section 10.1      Events of Default. Each of the following
shall constitute an "EVENT OF DEFAULT" under this Agreement:

                           10.1.1   Non-Payment of Loans, Etc. Borrower shall
         fail to make any payment when due of any principal of or interest on
         any Loan, or payment of any other Obligation payable by Borrower
         hereunder or under the other Transaction Documents, including, without
         limitation, any Fees and Indemnified Amounts, or shall fail to make any
         deposit required to be made hereunder when due and, in each of the
         foregoing cases, such failure shall continue for three (3) Business
         Days.

                           10.1.2   Non-Compliance with Other Provisions.
         Borrower shall:

                  (a)      fail to perform or observe any covenant contained in
         Section 9.2 of this Agreement and such failure shall remain unremedied
         for three (3) days after the earlier to occur of (i) Executive Officer
         of Borrower's having knowledge thereof and (ii) Borrower's having
         received written notice thereof from the Lender or Administrator, or

                  (b)      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 any such failure
         shall remain unremedied for thirty (30) days after the earlier to occur
         of (i) Executive Officer of Borrower's having knowledge thereof and
         (ii) Borrower's having received written notice thereof from the Lender
         or Administrator.

                           10.1.3   Breach of Representations and Warranties.
         Any representation, warranty, certification or statement made by
         Borrower in this Agreement, any other Transaction Document to which
         Borrower is a party or in any other document delivered pursuant hereto
         or thereto shall prove to have been incorrect in any material respect
         when made or deemed made; PROVIDED THAT the materiality threshold in
         the preceding clause shall not be applicable with respect to any
         representation or warranty which itself contains a materiality
         threshold.

                           10.1.4   Bankruptcy. An Event of Bankruptcy shall
         have occurred and remained continuing with respect to Borrower,
         Servicer or Performance Guarantor.

                           10.1.5   Tax Liens. The Internal Revenue Service
         shall file notice of a lien pursuant to ss. 6323 of the Internal
         Revenue Code with regard to any of the assets of Borrower, and such
         lien shall not have been released within fifteen (15) Business Days.

                                       44
<PAGE>   51

                  Section 10.2      Amortization Events. Each of the following
shall constitute an "AMORTIZATION EVENT" under this Agreement:

                           10.2.1   Servicer Event of Default. A Servicer Event
         of Default shall have occurred and remained continuing.

                           10.2.2   Borrowing Base Deficit. A Borrowing Base
         Deficit shall exist and such condition shall continue unremedied for
         three (3) Business Days.

                           10.2.3   Default Ratio. The Default Ratio shall equal
         or exceed 6.0% on a rolling three-month average basis.

                           10.2.4   Delinquency Ratio. The Delinquency Ratio
         shall equal or exceed 7.0% on a rolling three-month average basis.

                           10.2.5   Dilution Ratio. The Dilution Ratio shall
         equal or exceed 1.0% on a rolling three-month average basis.

                           10.2.6   Accounts Receivable Turnover Ratio. The
         Accounts Receivable Turnover Ratio shall be less than 6.5 to 1 for any
         Calculation Period.

                           10.2.7   Event of Default. An Event of Default shall
         have occurred and be continuing.

                           10.2.8   Validity of Transaction Documents. (a) Any
         Transaction Document, or any lien or security interest granted
         thereunder, 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 Borrower, Servicer or
         Originator party to such Transaction Document, (b) Borrower, Originator
         or Servicer shall, directly or indirectly, contest in any manner such
         effectiveness, validity, binding nature or enforceability or (c) any
         security interest securing any Secured Obligation shall, in whole or in
         part, cease to be a perfected first priority security interest.

                           10.2.9   Termination Date. The Termination Date
         (under and as defined in the Receivables Sale Agreement) shall occur,
         or any Material Originator's Termination Date (under and as defined in
         the First Step Sale Agreement) shall occur.

                           10.2.10  Performance Undertaking. Performance
         Guarantor shall fail to perform or observe any term, covenant or
         agreement required to be performed by it under the Performance
         Undertaking, or the Performance Undertaking shall cease to be effective
         or to be the legally valid, binding and enforceable obligation of
         Performance Guarantor, or Performance Guarantor shall directly or
         indirectly contest in any manner such effectiveness, validity, binding
         nature or enforceability.

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<PAGE>   52

                  Section 10.3      Effect of Significant Event.

                  (a)      Optional Termination. Upon the occurrence of a
Significant Event (other than an Event of Default described in Section 10.1.4),
Administrator may, and at the request of Lender shall, by notice to Borrower (a
copy of which shall be promptly forwarded by Administrator to each Rating
Agency), declare all or any portion of the outstanding principal amount of the
Loans and other Obligations to be due and payable and/or the Lender's Commitment
(if not theretofore terminated) to be terminated by declaring the Commitment
Termination Date to have occurred, whereupon the full unpaid amount of such
Loans 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 Lender's Commitment shall
terminate.

                  (b)      Automatic Termination. Upon the occurrence of an
Event of Default described in Section 10.1.4 or Section 10.2.2), the Commitment
Termination Date shall be deemed to have occurred automatically, and all
outstanding Loans and all other Obligations shall become immediately and
automatically due and payable, all without presentment, demand, protest, or
notice of any kind.

                  (c)      Notice to Rating Agencies. Administrator shall notify
each Rating Agency of the occurrence of any continuing Significant Event,
promptly following its actual knowledge thereof.

                                  ARTICLE XI.
                                  THE SERVICER

                  Section 11.1      ChoicePoint as Initial Servicer. The
servicing, administering and collection of the Receivables shall be conducted by
the Person designated from time to time as Servicer under the Servicing
Agreement. Until such time following the occurrence of a Servicer Default or an
Amortization Event as Administrator shall notify ChoicePoint and Borrower in
writing of the revocation of such power and authority, Borrower, Lender and
Administrator hereby appoint ChoicePoint to act as Servicer under the
Transaction Documents.

                  Section 11.2      Certain Duties of the Servicer.

                           11.2.1   Authorization to Act as Borrower's Agent.
         Borrower hereby appoints Servicer as its agent for the following
         purposes: (i) selecting the amount of each requested Loan and executing
         Borrowing Requests on behalf of Borrower, (ii) making transfers among,
         deposits to and withdrawals from all deposit accounts of Borrower for
         the purposes described in the Transaction Documents, (iii) arranging
         payment by Borrower of all Fees, expenses, other Obligations and other
         amounts payable under the Transaction Documents, (iv) causing the
         repayment and prepayment of the Loans as required or permitted pursuant
         to Section 4.1, and (v) executing and preparing the Monthly Reports;
         PROVIDED, HOWEVER, that Servicer shall act in such capacity only as an
         agent of Borrower and shall incur thereby no additional obligations
         with respect to any Loan. Borrower

                                       46
<PAGE>   53

         irrevocably agrees that (A) it shall be bound by all proper actions
         taken by Servicer pursuant to the preceding sentence, and (B) Lender,
         Administrator and the banks holding all deposit accounts of Borrower
         are entitled to accept submissions, determinations, selections,
         specifications, transfers, deposits and withdrawal requests, and
         payments from Servicer on behalf of Borrower.

                           11.2.2   Servicer to Act as Servicer; Originators as
                  Permitted Sub-Servicers.

                  (a)      Servicer shall service and administer the Receivables
         on behalf of Borrower and Administrator (for the benefit of the Secured
         Parties) and shall have full power and authority, acting alone and/or
         through sub-servicers as provided in Section 11.2.2(c), to do any and
         all things which it may deem reasonably necessary or desirable in
         connection with such servicing and administration and which are
         consistent with this Agreement. Consistent with the terms of this
         Agreement, Servicer may waive, modify or vary any term of any
         Receivable or consent to the postponement of strict compliance with any
         such term or in any manner, grant indulgence to any Obligor if, in
         Servicer's reasonable determination, such waiver, modification,
         postponement or indulgence is not materially adverse to the interests
         of Borrower or Administrator (for the benefit of the Secured Parties);
         PROVIDED, HOWEVER, that Servicer may not permit any modification with
         respect to any Receivable that would reduce the Unpaid Balance (except
         for actual payments thereof), or extend the due date thereof, except
         that Servicer may take such actions with respect to Defaulted
         Receivables if such actions will, in Servicer's reasonable business
         judgment, maximize the Collections thereof. Without limiting the
         generality of the foregoing, Servicer in its own name or in the name of
         Borrower is hereby authorized and empowered by Borrower when Servicer
         believes it appropriate in its best judgment to execute and deliver, on
         behalf of Borrower, 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 Receivables.

                  (b)      Servicer shall service and administer the Receivables
         by employing such procedures (including collection procedures) and
         degree of care, in each case consistent with applicable law, with the
         Credit and Collection Policy and with prudent industry standards, as
         are customarily employed by Servicer in servicing and administering
         receivables owned or serviced by Servicer comparable to the
         Receivables. Servicer shall not take any action to impair
         Administrator's (for the benefit of the Secured Parties) security
         interest in any Receivable, except to the extent allowed pursuant to
         this Agreement or required by law.

                  (c)      Servicer may perform any of its duties pursuant to
         this Agreement, including those delegated to it pursuant to this
         Agreement, through the Originators and permitted sub-servicers
         appointed by Servicer, PROVIDED that such sub-servicing arrangements
         may be terminated, at Administrator's discretion, upon the replacement
         of ChoicePoint as Servicer, and PROVIDED, FURTHER, that notwithstanding
         any such delegation of a duty, Servicer shall remain primarily

                                       47
<PAGE>   54

         obligated and liable for the performance of such duty as if Servicer
         were performing such duty.

                  (d)      Servicer may take such actions as are necessary to
         discharge its duties as Servicer in accordance with this Agreement,
         including the power to execute and deliver on behalf of Borrower such
         instruments and documents as may be customary, necessary or desirable
         in connection with the performance of Servicer's duties under this
         Agreement (including consents, waivers and discharges relating to the
         Receivables).

                  (e)      Servicer shall keep separate records covering the
         transactions contemplated by this Agreement, including the identity and
         collection status of each Receivable purchased by Parent SPE from any
         Originator and by Borrower from Parent SPE and the associated Purchase
         Price Credits.

                           11.2.3 Collections.

                  (a)      On or prior to the Closing Date, Borrower and
         Servicer shall have established and shall maintain thereafter the
         following system of collecting and processing Collections of
         Receivables. The Obligors shall be instructed to make payments of
         Receivables only by check, draft or money order mailed to a LockBox
         listed on Schedule 8.12 (such payments, upon receipt in such a LockBox,
         being referred to herein as "MAIL PAYMENTS"), or by wire transfer or
         ACH to a LockBox Account or a Depository Account.

                  (b)      On or prior to the Closing Date, Administrator shall
         have received a LockBox Agreement with respect to each LockBox Account.
         Servicer's right of access to any LockBox Account shall be revocable at
         the option of Administrator upon the occurrence and during the
         continuance of Unmatured Significant Event or Significant Event. In
         addition, after the occurrence and during the continuance of any
         Unmatured Significant Event or any Significant Event, Servicer agrees
         that it shall, upon the written request of Administrator, notify all
         Obligors under Receivables to make payment thereof to (i) one or more
         bank accounts and/or post-office boxes designated by Administrator and
         specified in such notice or (ii) any successor Servicer appointed
         hereunder.

                  (c)      Servicer shall remove all Mail Payments, or cause all
         Mail Payments to be removed, from each LockBox by the close of business
         on each Business Day and deposited into a LockBox Account. Servicer
         shall process all such Mail Payments, and all wire transfers, ACH
         payments and other payments on the date received by recording the
         amount of the payment received from the Obligor and the applicable
         account or invoice number.

                  (d)      All Collections received by Originator or Servicer in
         respect of Receivables will, pending remittance to a Depository Account
         as provided in Section 11.2.4, be held by Originator or Servicer in
         trust for the exclusive benefit

                                       48
<PAGE>   55

         of Administrator, and shall not be commingled with any other funds or
         property of Originator or Servicer.

                  (e)      Borrower and Servicer hereby irrevocably waive any
         right to set-off or otherwise deduct any amount owing by or to them
         from any Collections received by them prior to remittance thereof in
         accordance with this Agreement.

                  (f)      In performing its duties and obligations hereunder,
         Servicer (i) shall not impair the rights of Borrower or Administrator
         in any Receivable, (ii) shall not amend the terms of any Receivable
         other than in accordance with the Credit and Collection Policy and this
         Agreement, (iii) shall not release any goods securing a Receivable from
         the lien created by such Receivable except as specifically provided for
         herein, and (iv) shall be entitled to commence or settle any legal
         action to enforce collection of any Receivable or to foreclose upon or
         repossess any goods securing such Receivable. In the event that
         Servicer shall breach any of its covenants set forth in clause (i),
         (ii) or (iii) of this Section 11.2.3(f), Servicer shall pay the Unpaid
         Balance of each Receivable affected thereby on the Distribution Date
         following the Calculation Period in which such event occurs. For the
         purposes of Section 11.7 hereof, Servicer shall not be deemed to have
         breached its obligations under this Section 11.2.3(f) unless it shall
         fail to make such payment with respect to any Receivable affected by
         Servicer's noncompliance with clause (i), (ii) or (iii) of this Section
         11.2.3(f).

                  (g)      All payments or other amounts collected or received
         by Servicer in respect of a Receivable shall be applied to the Unpaid
         Balance of such Receivable.

                           11.2.4   Depository Accounts.

                  (a)      On any Business Day, Borrower may withdraw, or permit
         Servicer to withdraw, funds that are on deposit in the Depository
         Accounts, PROVIDED that (i) no Significant Event or Unmatured
         Significant Event has occurred and is continuing, (ii) the Commitment
         Termination Date has not occurred, and (iii) after giving effect to
         such withdrawal, no Borrowing Base Deficit has occurred or will result
         therefrom and there are funds in the Depository Accounts at least equal
         to the interest on the Loans and the Fees accrued through such date.

                  (b)      Prior to 3:00 p.m., New York time, on the Business
         Day preceding each Distribution Date (a "DEPOSIT DATE"): (i) Servicer
         shall deposit or cause to be deposited in a Depository Account, to the
         extent not already on deposit therein, an amount equal to, without
         duplication, the lesser of (A) the sum of (1) the aggregate amount of
         all Collections received during the immediately preceding Calculation
         Period, plus (2) the aggregate amounts due from Servicer on such
         Distribution Date pursuant to Section 11.2.3(f) hereof, plus (3) the
         aggregate amount of Purchase Price Credits, if any, required to be made
         in cash on such Distribution Date in accordance with the Receivables
         Sale Agreement, and (B) the amounts due on such Distribution Date
         pursuant to clauses FIRST through SEVENTH

                                       49
<PAGE>   56

         of Section 4.2(b), PROVIDED that if a Significant Event or Unmatured
         Significant Event shall exist on such Distribution Date or the
         Commitment Termination Date has occurred, then the Servicer shall
         deposit all of the amounts described in the foregoing clause (A) in a
         Depository Account on such Deposit Date.

                  (c)      Servicer shall distribute the amounts on deposit in
         the Depository Accounts in accordance with Section 4.2 hereof.

                  (d)      Funds deposited in the Depository Accounts may be
         invested by Servicer in Permitted Investments that mature not later
         than the Business Day next preceding the Distribution Date. All income,
         gain or losses realized from any such investment shall be credited or
         debited (as applicable) to the balance of the applicable Depository
         Account. Servicer shall have no obligation to reimburse any Depository
         Account for any losses realized by reason of such investments.

                  Section 11.3      Servicing Compensation. Servicer, as
compensation for its activities hereunder, shall be entitled to receive the
Servicing Fee, which shall be payable by Borrower on each Distribution Date from
funds on deposit in the Depository Accounts in accordance with Section 4.2.
Servicer shall be required to pay all expenses incurred by it in connection with
its servicing activities hereunder (including payment of the fees and expenses
of any sub-servicer) and shall not be entitled to reimbursement therefor except
as specifically provided herein.

                  Section 11.4      Agreement Not to Resign. ChoicePoint
acknowledges that Lender and Administrator have relied on ChoicePoint's
agreement to act as Servicer hereunder in their respective decisions to execute
and deliver the respective Transaction Documents to which they are parties. In
recognition of the foregoing, ChoicePoint agrees not to resign as Servicer
voluntarily, except as required by law (as evidenced by the delivery of an
outside opinion of counsel to Administrator, in form and substance satisfactory
to Administrator), without the prior written consent of Administrator.

                  Section 11.5      Designation of Servicer. Borrower agrees not
to designate any Person other than ChoicePoint as Servicer without the prior
written consent of Administrator.

                  Section 11.6      Termination. The authorization of Servicer
to act on behalf of Borrower under this Agreement and the other Transaction
Documents shall terminate at the sole discretion of Administrator upon the
replacement of Servicer by a successor Servicer selected by Administrator.

                  Section 11.7      Servicer Events of Default. Each of the
following shall constitute a "SERVICER EVENT OF DEFAULT" under this Agreement:

                          11.7.1    Failure to Make Payments and Deposits.
         Servicer shall fail to make any payment or deposit required to be made
         by it hereunder on the date when due and, in each of the foregoing
         cases, such failure shall continue for three (3) Business Days.

                                       50
<PAGE>   57

                           11.7.2   Non-Compliance with Other Provisions.
         Servicer 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 any such failure shall
         remain unremedied for thirty (30) days after the earlier to occur of
         (i) Executive Officer of Servicer's having knowledge thereof and (ii)
         Servicer's having received written notice thereof from the Lender or
         Administrator.

                           11.7.3   Delegation. Servicer shall not delegate any
         of its duties hereunder, except as expressly permitted in accordance
         with the terms hereof.

                           11.7.4   Breach of Representations and Warranties.
         Any representation, warranty, certification or statement made by
         Servicer in this Agreement, any other Transaction Document to which
         Servicer is a party or in any Borrowing Base Certificate, Monthly
         Report or other document delivered pursuant hereto or thereto shall
         prove to have been incorrect in any material respect when made or
         deemed made; PROVIDED THAT the materiality threshold in the preceding
         clause shall not be applicable with respect to any representation or
         warranty which itself contains a materiality threshold.

                           11.7.5   Consolidated Tangible Net Worth. At any time
         while ChoicePoint is the Servicer, the Consolidated Tangible Net Worth
         of ChoicePoint and its Consolidated Subsidiaries is less than or equal
         to $150,000,000;

                           11.7.6   Bankruptcy. An Event of Bankruptcy shall
         have occurred and remained continuing with respect to Servicer.

                           11.7.7   Judgments. A final judgment or judgments for
         the payment of money in excess of $10,700 in the aggregate shall have
         been rendered against Borrower, or in excess of $5,000,000 in the
         aggregate shall have been rendered against Servicer, and the same shall
         have remained unsatisfied and in effect, without stay of execution, for
         a period of thirty (30) consecutive days after the period for appellate
         review shall have elapsed.

                           11.7.8 Cross-Default to Material Debt. Failure of
         Servicer to pay any Debt in excess of $5,000,000 in aggregate principal
         amount ("MATERIAL DEBT") when due; or the default by Servicer in the
         performance of any term, provision or condition contained in any
         agreement under which any Material Debt was created or is governed, the
         effect of which is to cause, or to permit the holder or holders of such
         Material Debt to cause, such Indebtedness to become due prior to its
         stated maturity; or any Material Debt of Servicer shall be declared to
         be due and payable or required to be prepaid (other than by a regularly
         scheduled payment) prior to the date of maturity thereof.

At any time during the continuance of any Servicer Event of Default,
Administrator may, in its sole discretion, notify Servicer in writing of the
revocation of its appointment as Servicer hereunder. Upon revocation of
Servicer's appointment hereunder, Administrator shall appoint a

                                       51
<PAGE>   58

successor Servicer. Servicer agrees that upon receipt of written notification
from Administrator of the revocation of Servicer's appointment as Servicer
hereunder, Servicer shall upon the written request of Administrator (which
request may be contained in the notification of revocation) (i) notify all
Obligors under the Receivables to make payment thereof to a bank account(s) or
post office box designated by Administrator and specified in such notice, and
(ii) pay to Administrator (or its designee) immediately all Collections then
held or thereafter received by Servicer or Originator of Receivables, together
with all other payment obligations of the Servicer hereunder owing to Lender or
Administrator. Servicer shall, at its sole cost and expense, cooperate with and
assist the successor Servicer (including, without limitation, providing access
to, and transferring, all Receivable Files and all records (including
data-processing records) relating thereto (which shall be held in trust for the
benefit of the parties hereto in accordance with their respective interests))
and allowing the successor Servicer to use all licenses, hardware or software
necessary or desirable to collect the Receivables). ChoicePoint irrevocably
agrees to act (if requested to do so) as the data-processing agent for the
successor Servicer (in substantially the same manner as ChoicePoint conducted
such data-processing functions while it acted as Servicer).

                                  ARTICLE XII.
                                  ADMINISTRATOR

                  Section 12.1      Authorization and Action. Lender hereby
appoints SunTrust Equitable Securities Corporation as its Administrator for
purposes of the Transaction Documents and authorizes SunTrust Equitable
Securities Corporation in such capacity to take such action on its behalf under
each Transaction Document and to exercise such powers hereunder and thereunder
as are delegated to SunTrust Equitable Securities Corporation, as Administrator,
by the terms hereof and thereof, together with such powers as are reasonably
incidental thereto.

                  Section 12.2      Administrator and Affiliates. Bank and any
of its Affiliates may generally engage in any kind of business with Borrower,
Bank, Servicer, any Obligor, any of their respective Affiliates and any Person
who may do business with or own securities of Borrower, Bank, Servicer, any
Obligor or any of their respective Affiliates, all as if SunTrust Equitable
Securities Corporation were not Administrator and without any duty to account
therefor to Lender.

                                 ARTICLE XIII.
                                   ASSIGNMENTS

                  Section 13.1      Restrictions on Assignments. Neither
Borrower nor Servicer may assign its rights hereunder or any interest herein
without the prior written consent of Administrator and Lender. Lender may not
assign all or any portion of Lender's Commitment to any Person other than the
Liquidity Bank(s) without the prior written consent of Borrower and
Administrator; PROVIDED, HOWEVER, that each of the parties hereto agrees that
Borrower may withhold its consent to any proposed assignment to any Person that
(i) is not incorporated under the laws of the United States of America or a
state thereof, and (ii) fails to deliver to the Administrator prior to the
effectiveness of any such assignment two (2) duly completed copies of United
States Internal Revenue Service Form W-8BEN or W-8ECI, as applicable. Nothing

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<PAGE>   59

herein shall be deemed to preclude Lenders from pledging or assigning all or any
portion of any Loan or the Lender Note:

                  (a)      to Credit Bank, any Liquidity Bank (or any successor
         of any thereof by merger, consolidation or otherwise), any Affiliate of
         Credit Bank or any Liquidity Bank in connection with a draw under the
         Liquidity Agreement or a Credit Advance (which may then assign all or
         any portion thereof so assigned or any interest therein to such party
         or parties as it may choose); or

                  (b)      to any other Person proposed by Lender and consented
         to by Administrator.

Administrator shall promptly provide notice of any assignment to each Rating
Agency. Subject to Section 13.2, all of the aforementioned assignments shall be
upon such terms and conditions as Lender and the assignee may mutually agree.

                  Section 13.2      Documentation. Lender shall deliver to each
assignee an assignment, in such form as Lender and the related assignee may
agree, duly executed by Lender, assigning any such Loan to the assignee, and
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 such Loan, and to enable the assignee to exercise or enforce
any rights hereunder or under the Lender Note evidencing such Loan.

                  Section 13.3      Rights of Assignee. Upon the foreclosure of
any assignment of any Loans made for security purposes, or upon any other
assignment of any Loan from Lender pursuant to this Article XIII, the respective
assignee receiving such assignment shall have all of the rights of Lender
hereunder to the extent of such assignment with respect to such Loans and all
references to Lender in Section 6.1 shall be deemed to apply to such assignee to
the extent of such assignment.

                  Section 13.4      Notice of Assignment. Lender shall provide
notice to Borrower of any assignment hereunder by Lender to any assignee. Lender
authorizes Administrator to, and Administrator agrees that it shall, endorse the
Lender Note to reflect any assignments made pursuant to this Article XIII or
otherwise.

                                  ARTICLE XIV.
                                 INDEMNIFICATION

                  Section 14.1      General Indemnity of Borrower. Without
limiting any other rights which any such Person may have hereunder or under
applicable law, Borrower hereby agrees to indemnify Administrator, Lender,
Servicer, each Liquidity Bank, each Credit Bank, Bank, each of Bank's 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, on an after-tax basis, 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

                                       53
<PAGE>   60

incurred by any of them arising out of or relating to any Transaction Document
or the transactions contemplated thereby, any commingling of funds (whether or
not permitted hereunder), or the use of proceeds therefrom by Borrower,
including (without limitation) in respect of the funding of any Loan or in
respect of any Receivable; EXCLUDING, HOWEVER, (a) Indemnified Amounts to the
extent a final judgment of a court of competent jurisdiction holds that such
Indemnified Amounts resulted from gross negligence or willful misconduct on the
part of the Indemnified Party seeking indemnification, and (b) Excluded Taxes.

                  Section 14.2      Indemnity of Servicer. Without limiting any
other rights which any such Person may have hereunder or under applicable law,
ChoicePoint as Servicer, hereby agrees to indemnify each Indemnified Party
forthwith on demand, on an after-tax basis, from and against any and all
Indemnified Amounts awarded against or incurred by any of them arising from, or
related to, the negligence or willful misconduct of ChoicePoint, the inaccuracy
of any representation or warranty of ChoicePoint, or the failure of ChoicePoint
to perform its obligations under any Transaction Document; 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 such Indemnified Party, (b) Indemnified Amounts to the extent solely due
to non-payment by any Obligor of an amount due and payable with respect to a
Receivable for credit reasons, and (c) any tax upon or measured by net income on
any Indemnified Party.

                           ARTICLE XV. MISCELLANEOUS

                  Section 15.1      No Waiver; Remedies. No failure on the part
of Lender, Administrator, any Indemnified Party or any Affected Party 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 of Bank, each Credit Bank
and each Liquidity Bank is hereby authorized by Borrower 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 Bank, such Credit Bank
or such Liquidity Bank to or for the credit or the account of Borrower, now or
hereafter existing under this Agreement, to Administrator, any Affected Party,
any Indemnified Party, or Lender or their respective successors and assigns.

                  Section 15.2      Amendments, Etc. No amendment, modification
or waiver of, or consent with respect to, any provision of this Agreement and
any Schedules hereto, or the Lender Note shall in any event be effective unless
the same shall be in writing and signed and delivered by (i) Borrower, Servicer,
Administrator and Lender (with respect to an amendment), or (ii) Administrator
and Lender (with respect to a waiver or consent by them) or Servicer or Borrower
(with respect to a waiver or consent by them), as the case may be, and then any
such waiver or consent shall be effective only in the specific instance and for
the specific purpose for which given; PROVIDED, HOWEVER, that no material
amendment of this Agreement (other than an

                                       54
<PAGE>   61

amendment to extend the Scheduled Commitment Termination Date) shall be
effective unless the Lender (or Administrator on its behalf) shall have received
written confirmation by the Rating Agencies that such amendment shall not cause
the rating on the then outstanding Commercial Paper Notes to be downgraded or
withdrawn. Administrator shall provide each Rating Agency with a copy of each
amendment to or consent or waiver under this Agreement promptly following the
effective date thereof.

                  Section 15.3      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 opposite its
name on Schedule 15.3 hereto 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.

                  Section 15.4      Costs, Expenses and Taxes. In addition to
its obligations under Section 14.1, Borrower agrees to pay (or to cause to be
paid) on demand:

                  (a)      all reasonable costs and expenses incurred by
         Administrator, Lender, each Liquidity Bank, each Credit Bank and
         Servicer in connection with (i) the preparation, execution, delivery,
         administration and enforcement of, or any breach of, this Agreement,
         the Lender Note, the other Transaction Documents, the Liquidity
         Agreement and, to the extent directly related to this Agreement, the
         Program Documents (including any amendments or modifications of or
         supplements to the Program Documents directly related to this
         Agreement), including, without limitation, the reasonable fees and
         expenses of counsel to any of such Persons incurred in connection
         therewith, (ii) the perfection of Administrator's security interest in
         the Collateral, (iii) the maintenance of the Depository Accounts and
         the LockBox Accounts, (iv) the audit of the books, records and
         procedures of Originator, Servicer and Borrower by Administrator's
         auditors (which may be employees of Administrator), and (v) Rating
         Agency fees related to the transactions contemplated by this Agreement;
         and

                  (b)      all stamp and other transactional or filing taxes and
         fees payable or determined to be payable in connection with the
         execution, delivery, filing and recording of this Agreement, the Lender
         Note, the other Transaction Documents, or (to the extent directly
         related to this Agreement) the Program Documents, and agrees to
         indemnify each Indemnified Party against any liabilities with respect
         to or resulting from any delay in paying or omission to pay such taxes
         and fees.

                  Section 15.5      Binding Effect; Survival. This Agreement
shall be binding upon and inure to the benefit of Borrower, Bank, Lender,
Administrator, and their respective successors and assigns, and the provisions
of Article VI and Article XIV shall inure to the

                                       55
<PAGE>   62

benefit of the Affected Parties 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
XIII. 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 Commitment 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
Borrower or Servicer pursuant to Article VIII and the indemnification and
payment provisions of Article XIV and Article VI, Sections 15.4, 15.11 and 15.12
shall be continuing and shall survive any termination of this Agreement and any
termination of ChoicePoint's rights to act as Servicer hereunder or under any
other Transaction Document.

                  Section 15.6      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, Appendix,
Schedule or Exhibit are to such Section of or Appendix, 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.

                  Section 15.7      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.

                  Section 15.8      Governing Law. THIS AGREEMENT SHALL BE A
CONTRACT MADE UNDER AND GOVERNED BY THE INTERNAL LAWS OF THE STATE OF NEW YORK
WITHOUT REGARD TO THE CONFLICT OF LAW PRINCIPLES THEREOF (OTHER THAN SECTION
5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW) EXCEPT TO THE EXTENT THAT THE
LAWS OF ANOTHER JURISDICTION GOVERN THE PERFECTION, OR THE EFFECT OF PERFECTION
OR NONPERFECTION, OF THE SECURITY INTERESTS OF THE ADMINISTRATOR, FOR THE
BENEFIT OF THE SECURED PARTIES.

                  Section 15.9      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.

                  Section 15.10     Submission to Jurisdiction; Waiver of Trial
by Jury.

                  (a)      Each of Borrower and Servicer hereby submits to the
         nonexclusive jurisdiction of any United States District Court for the
         Southern District of New York and of any New York state court sitting
         in New York, New York for purposes of all legal proceedings arising out
         of, or relating to, the Transaction Documents or the transactions
         contemplated thereby. Each of Borrower and Servicer hereby irrevocably
         waives, to the fullest extent possible, any objection it may now or
         hereafter have to the venue of any such proceeding and any claim

                                       56
<PAGE>   63

         that any such proceeding has been brought in an inconvenient forum.
         Nothing in this Section 15.10 shall affect the right of Administrator
         or Lender to bring any action or proceeding against Borrower or
         Servicer or their respective properties in the courts of other
         jurisdictions.

                  (b)      TO THE EXTENT PERMITTED BY APPLICABLE LAW, EACH PARTY
         HERETO IRREVOCABLY WAIVES ALL RIGHT OF TRIAL BY JURY IN ANY ACTION,
         PROCEEDING OR COUNTERCLAIM ARISING OUT OF, OR IN CONNECTION WITH, ANY
         TRANSACTION DOCUMENT OR ANY MATTER ARISING THEREUNDER.

                  Section 15.11     Limitation on Recourse.

                  (a)      The obligations of the Lender under this Agreement
         are solely the corporate obligations of Lender. No recourse shall be
         had for any obligation, covenant or agreement (including, without
         limitation, the payment of any amount owing in respect to this
         Agreement or the payment of any Fee hereunder or for any other
         obligation or claim) arising out of or based upon this Agreement or any
         other agreement, instrument or Transaction Document entered into
         pursuant hereto or in connection herewith against any stockholder,
         employee, officer, director, manager, administrator, partner or
         incorporator of Lender, as such, by the enforcement of any assessment
         or by any legal or equitable proceeding, by virtue of any statute or
         otherwise.

                  (b)      Notwithstanding any provisions contained in this
         Agreement to the contrary, Lender shall not, and shall not be obligated
         to, pay any amount pursuant to this Agreement unless (i) Lender has
         received funds which may be used to make such payment and which funds
         are not required to repay the Commercial Paper when due and (ii) after
         giving effect to such payment, either (A) Lender could issue Commercial
         Paper Notes to refinance all outstanding Commercial Paper Notes
         (assuming such outstanding Commercial Paper Notes matured at such time)
         in accordance with the program documents governing Lender's
         securitization program or (B) all Commercial Paper Notes are paid in
         full; PROVIDED, HOWEVER, that the foregoing limitations on payments by
         Lender shall not apply to any distributions of funds received by Lender
         pursuant to Section 4.2. Any amount which Lender does not pay pursuant
         to the operation of the preceding sentence shall not constitute a claim
         (as defined in ss.101 of the Bankruptcy Code) against or corporate
         obligation of Lender for any such insufficiency unless and until Lender
         satisfies the provisions of clauses (i) and (ii) above.

                  Section 15.12     No Proceedings. Each of the parties hereto
hereby agree that it will not institute against Lender, or join any other Person
in instituting against Lender, any insolvency proceeding (namely, any proceeding
of the type referred to in the definition of Event of Bankruptcy) so long as any
Commercial Paper Notes issued by Lender shall be outstanding and there shall not
have elapsed one year plus one day since the last day on which any such

                                       57
<PAGE>   64

Commercial Paper Notes shall be outstanding. The provisions of this Section
15.12 shall survive the termination hereof.

                  Section 15.13     Confidentiality.

                  (a)      Unless otherwise consented to by Administrator or
required by any applicable law, rule, regulation, direction, request or order of
any judicial, administrative or regulatory authority or proceedings, each of
Borrower and Servicer hereby agrees that it shall maintain and shall cause each
of its employees and officers to maintain the confidentiality of the Fee Letter
and the other confidential or proprietary information with respect to
Administrator and Lender and their respective businesses obtained by it or them
in connection with the structuring, negotiating and execution of the
transactions contemplated herein, except that each of Borrower, Servicer and
their respective officers and employees may disclose such information to their
external accountants, attorneys and other advisors and as required by any
applicable law, rule, direction, request or order of any judicial,
administrative or regulatory authority or proceeding (whether or not having the
force or effect of law). The restrictions in this Section 15.13(a) shall not
apply to any information which is or becomes generally available to the public
other than as a result of disclosure by Borrower, Servicer or one of their
respective Affiliates.

                  (b)      Each of Borrower and Servicer hereby consents to the
disclosure of any nonpublic information with respect to it (i) to Administrator,
the Liquidity Banks or Lender by each other, (ii) as required by or pursuant to
any applicable law, rule, regulation, direction, request or order of any
judicial, administrative or regulatory authority or proceedings (whether or not
having the force or effect of law), (iii) to any prospective or actual assignee
or participant of any of the Persons described in clause (i), and (iv) to any
Rating Agency, Commercial Paper Note dealer, Credit Bank or Support Provider to
Lender or any entity organized for the purpose of purchasing, or making loans
secured by, financial assets for which Administrator acts as the administrative
agent or administrator and to any officers, directors, employees, outside
accountants and attorneys of any of the foregoing, PROVIDED each Person
described in the foregoing clauses (iii) and (iv) is informed of the
confidential nature of such information.

                  Section 15.14     Entire Agreement. This Agreement and the
other Transaction Documents executed and delivered herewith represent the final
agreement among 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.

                      [SIGNATURE PAGES BEGIN ON NEXT PAGE]

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                  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.

CHOICEPOINT FINANCIAL INC., AS BORROWER

By:   /s/ David E. Trine
   --------------------------------------------
Name: David E. Trine
Title: Treasurer

CHOICEPOINT INC., AS INITIAL SERVICER

By:    /s/ David E. Trine
   --------------------------------------------
Name: David E. Trine
Title: Treasurer

                                       59
<PAGE>   66

THREE PILLARS FUNDING CORPORATION, AS LENDER

By:    /s/ Douglas K. Johnson
   --------------------------------------------
Name: Douglas K. Johnson
Title: President

                                       60
<PAGE>   67

SUNTRUST EQUITABLE SECURITIES CORPORATION, AS ADMINISTRATOR

By:    /s/ James R. Bennison
   --------------------------------------------
Name: James R. Bennison
Title: Managing Director

                                       61<PAGE>   1

                   RECEIVABLES SALE AND CONTRIBUTION AGREEMENT

                            DATED AS OF JULY 2, 2001

                                      AMONG

        CHOICEPOINT SERVICES INC., PRC CORPORATION, CHOICEPOINT BUSINESS
        AND GOVERNMENT SERVICES INC., CHOICEPOINT DIRECT INC., STATEWIDE
     DATA SERVICES, INC., I.R.S.C., INC., CHOICEPOINT PUBLIC RECORDS INC.,
         PATLEX CORPORATION, NATIONAL SAFETY ALLIANCE INCORPORATED, BTI
         EMPLOYEE SCREENING SERVICES INC. AND EACH OTHER SUBSIDIARY OF
             CHOICEPOINT INC. THAT HEREAFTER BECOMES A PARTY HERETO,
                                AS ORIGINATORS,

                                       AND

                            CHOICEPOINT CAPITAL INC.,
                                    AS BUYER
<PAGE>   2

                               TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                                                PAGE
                                                                                                                ----
<S>                                                                                                             <C>
ARTICLE I THE RECEIVABLES CONVEYANCES.............................................................................3

Section 1.1       Initial Parent Sale and Capitalization of Buyer with the Initial First Step Contribution........3

Section 1.2       Purchases of Future Receivables; Purchase Reports...............................................3

Section 1.3       Payment for the Purchases.......................................................................4

Section 1.4       Purchase Price Credit Adjustments...............................................................5

Section 1.5       Payments and Computations, Etc..................................................................6

Section 1.6       License of Software.............................................................................6

Section 1.7       Intention of the Parties; Marking of Records; Further Assurances................................7

Section 1.8       Characterization; Grant of Security Interest....................................................7

ARTICLE II REPRESENTATIONS AND WARRANTIES.........................................................................8

Section 2.1       Representations and Warranties of Originators...................................................8
   (a)      Existence and Power...................................................................................8
   (b)      Power and Authority; Due Authorization, Execution and Delivery........................................8
   (c)      No Conflict...........................................................................................8
   (d)      Governmental Authorization............................................................................9
   (e)      Actions, Suits........................................................................................9
   (f)      Binding Effect........................................................................................9
   (g)      Accuracy of Information...............................................................................9
   (h)      Use of Proceeds.......................................................................................9
   (i)      Good Title............................................................................................9
   (j)      Perfection...........................................................................................10
   (k)      Places of Business and Locations of Records..........................................................10
   (l)      LockBoxes, Etc.......................................................................................10
   (m)      Originator Material Adverse Effect...................................................................10
   (n)      Names................................................................................................10
   (o)      Ownership of Buyer...................................................................................11
   (p)      Not a Holding Company or an Investment Company.......................................................11
   (q)      Compliance with Law..................................................................................11
   (r)      Compliance with Credit and Collection Policy.........................................................11
   (s)      Payments to Originators..............................................................................11
   (t)      Enforceability of Contracts..........................................................................11
   (u)      Eligible Receivables.................................................................................12
   (v)      Accounting...........................................................................................12
   (w)      Solvency.............................................................................................12
</TABLE>

                                       i
<PAGE>   3

<TABLE>
<S>                                                                                                              <C>
ARTICLE III CONDITIONS OF PURCHASE...............................................................................12

Section 3.1       Conditions Precedent to Purchase...............................................................12

Section 3.2       Conditions Precedent to Subsequent Payments....................................................12

ARTICLE IV COVENANTS.............................................................................................13

Section 4.1       Affirmative Covenants of Originators...........................................................13
   (a)      Financial Reporting..................................................................................13
      (i)      Annual Reporting..................................................................................13
      (ii)     Quarterly Reporting...............................................................................13
      (iii)    Compliance Certificate............................................................................13
      (iv)     S.E.C. Filings....................................................................................14
      (v)      Change in Credit and Collection Policy............................................................14
      (vi)     Other Information.................................................................................14
   (b)      Notices..............................................................................................14
      (i)      Termination Events or Unmatured Termination Events................................................14
      (ii)     Judgment and Proceedings..........................................................................14
      (iii)    Originator Material Adverse Effect................................................................14
   (c)      Compliance with Laws and Preservation of Existence...................................................15
   (d)      Audits...............................................................................................15
   (e)      Keeping and Marking of Records and Books.............................................................15
   (f)      Compliance with Contracts and Credit and Collection Policy...........................................16
   (g)      Ownership............................................................................................16
   (h)      Borrower's, Administrator's and Lender's Reliance....................................................16
   (i)      Collections..........................................................................................17
   (j)      Taxes................................................................................................17

Section 4.2       Negative Covenants of Originators..............................................................17
   (a)      Name Change, Offices and Records.....................................................................17
   (b)      Change in Payment Instructions to Obligors...........................................................17
   (c)      Modifications to Contracts and Credit and Collection Policy..........................................18
   (d)      Sales, Adverse Claims................................................................................18
   (e)      Accounting for Purchases.............................................................................18

ARTICLE V TERMINATION EVENTS.....................................................................................18

Section 5.1       Termination Events.............................................................................18

Section 5.2       Remedies.......................................................................................20

ARTICLE VI INDEMNIFICATION.......................................................................................20

Section 6.1       Indemnities by Originators.....................................................................20

Section 6.2       Other Costs and Expenses.......................................................................22
</TABLE>

                                       ii

<PAGE>   4

<TABLE>
<S>                                                                                                              <C>
Section 6.3       Taxes..........................................................................................22

ARTICLE VII JOINDER OF ADDITIONAL ORIGINATORS....................................................................23

Section 7.1       Addition of New Originators....................................................................23

Section 7.2       Documentation..................................................................................23

ARTICLE VIII MISCELLANEOUS.......................................................................................23

Section 8.1       Waivers and Amendments.........................................................................23

Section 8.2       Notices........................................................................................24

Section 8.3       Protection of Ownership Interests of Buyer.....................................................24

Section 8.4       Confidentiality................................................................................25

Section 8.5       Bankruptcy Petition............................................................................25

Section 8.6       CHOICE OF LAW..................................................................................26

Section 8.7       CONSENT TO JURISDICTION........................................................................26

Section 8.8       WAIVER OF JURY TRIAL...........................................................................26

Section 8.9       Integration; Binding Effect; Survival of Terms.................................................27

Section 8.10      Counterparts; Severability; Section References.................................................28
</TABLE>

                                      iii

<PAGE>   5

                             EXHIBITS AND SCHEDULES

Exhibit I         -        Definitions

Exhibit II        -        Chief Executive Offices; Principal Places of
                           Business; Locations of Records; Federal Employer
                           Identification Numbers; Other Names

Exhibit III       -        LockBoxes and LockBox Accounts

Exhibit IV        -        Form of Compliance Certificate

Exhibit V         -        Form of First Step Note

Exhibit VI        -        Form of Purchase Report

Exhibit VII       -        Form of Joinder Agreement

Exhibit IX        -        Credit and Collection Policies

Schedule A                 List of Documents to Be Delivered to Buyer Prior
                           to the Closing Date (or, as applicable, the Effective
                           Date of a Joinder Agreement)

Schedule B                 Notice Addresses

                                       iv
<PAGE>   6

                   RECEIVABLES SALE AND CONTRIBUTION AGREEMENT

                  THIS RECEIVABLES SALE AND CONTRIBUTION AGREEMENT, dated as of
July 2, 2001, is by and among:

                  (a) ChoicePoint Services Inc., a Georgia corporation (together
         with its successors, the "PARENT ORIGINATOR" and, together with the
         Subsidiary Originators defined below, the "ORIGINATORS"),

                  (b) PRC Corporation, a Georgia corporation, ChoicePoint
         Business and Government Services Inc., a Georgia corporation,
         ChoicePoint Direct Inc., an Illinois corporation, Statewide Data
         Services, Inc., a Florida corporation, I.R.S.C., Inc., a California
         corporation, ChoicePoint Public Records Inc., a Georgia corporation,
         Patlex Corporation, a Pennsylvania corporation, National Safety
         Alliance Incorporated, a Tennessee corporation, and BTi Employee
         Screening Services Inc., a Texas corporation (each of the foregoing,
         together with any other Subsidiary of ChoicePoint Inc. that hereafter
         becomes a party hereto, and their respective successors, a "SUBSIDIARY
         ORIGINATOR" and collectively, the "SUBSIDIARY ORIGINATORS"), and

                  (c) ChoicePoint Capital Inc., a Delaware corporation (together
         with its successors, "BUYER").

UNLESS DEFINED ELSEWHERE HEREIN, CAPITALIZED TERMS USED IN THIS AGREEMENT SHALL
HAVE THE MEANINGS ASSIGNED TO SUCH TERMS IN EXHIBIT I HERETO.

                             PRELIMINARY STATEMENTS

                  Each of the Subsidiary Originators that is a party to this
         Agreement on the Closing Date owns Existing Receivables. On the Closing
         Date, each of such Subsidiary Originators wishes to sell and assign to
         Parent Originator all of such Subsidiary Originator's Existing
         Receivables (such Existing Receivables, the "SUBSIDIARY EXISTING
         RECEIVABLES"), together with all Related Security and Collections
         associated therewith (such sale, the "INITIAL PARENT SALE").

                  Parent Originator now owns Existing Receivables originated by
         it and, pursuant to the Initial Parent Sale, will acquire the
         Subsidiary Existing Receivables. On the Closing Date, Parent Originator
         wishes to contribute to Buyer's capital, and Buyer wishes to accept
         from Parent Originator as a contribution to Buyer's capital, all of
         Parent Originator's right, title and interest in and to all Existing
         Receivables originated by Parent and all Subsidiary Existing
         Receivables, together (in each case) with the Related Security and
         Collections with respect thereto, whether such Receivables were
         originated by Parent

                                       1
<PAGE>   7

         Originator or acquired by Parent Originator from the Subsidiary
         Originators via the Initial Parent Sale (such capital contribution, the
         "INITIAL FIRST STEP CONTRIBUTION").

                  Some time after the Closing Date (under and as defined in the
         Loan Agreement), Buyer wishes to make a loan to Parent Originator in a
         principal amount not to exceed $100,000,000 (the "BUYER LOAN").

                  From time to time hereafter, each of the Originators will own
         Future Receivables. Each of the Originators wishes to sell and assign
         to Buyer, and Buyer wishes to purchase and accept from each of the
         Originators, all of the Originators' respective right, title and
         interest in and to all Future Receivables, together with the Related
         Security and Collections with respect thereto.

                  Each of the parties hereto intends the transactions
         contemplated hereby (other than the Buyer Loan) to be true sales or
         other outright conveyances of Receivables to the applicable Transferee,
         providing such Transferee with the full benefits of ownership of the
         Receivables transferred to it, and none of the parties hereto intends
         any of such transactions (other than the Buyer Loan) to be, or for any
         purpose to be characterized as, loans from any Transferee of
         Receivables to any other party.

                  Buyer plans to sell and contribute the Receivables, Related
         Security and Collections acquired by it hereunder to ChoicePoint
         Financial Inc., a Delaware corporation (the "BORROWER"), pursuant to
         the terms of a Receivables Sale Agreement dated as of July 2, 2001, by
         and between Buyer, as seller thereunder, and Borrower, as purchaser
         thereunder (as the same may from time to time hereafter be amended,
         supplemented, restated or otherwise modified, the "RECEIVABLES SALE
         AGREEMENT"), and Borrower intends to finance its purchases of
         Receivables under the Receivables Sale Agreement by borrowing under
         that certain Loan Agreement dated as of July 2, 2001 (as the same may
         from time to time hereafter be amended, supplemented, restated or
         otherwise modified, the "LOAN AGREEMENT") among Borrower, ChoicePoint
         Inc., as initial servicer, Three Pillars Funding Corporation (together
         with its successors and permitted assigns, "LENDER"), and SunTrust
         Equitable Securities Corporation, as agent and administrator for Lender
         (in such capacity, together with its successor and assigns in such
         capacity, the "ADMINISTRATOR").

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

                                       2
<PAGE>   8

                                   ARTICLE I
                           THE RECEIVABLES CONVEYANCES

         Section 1.1       Initial Parent Sale and Capitalization of Buyer with
the Initial First Step Contribution.

                  (a)      Effective on the Closing Date, each Subsidiary
Originator does hereby sell, assign, transfer, set-over and otherwise convey to
Parent Originator, upon the terms and subject to the conditions set forth
herein, in consideration for the Purchase Price paid to such Subsidiary
Originator, without recourse (except to the extent expressly provided herein),
and Parent Originator does hereby purchase from such Subsidiary Originator, all
of such Subsidiary Originator's right, title and interest in and to its Existing
Receivables, together with all Related Security and Collections associated
therewith.

                  (b)      Effective on the Closing Date immediately after the
Initial Parent Sale, (i) Parent Originator hereby makes the Initial First Step
Contribution, and (ii) Buyer hereby accepts from Parent Originator as a
contribution to Buyer's capital, the Initial First Step Contribution.

         Section 1.2       Purchases of Receivables; Purchase Reports.

                  (a)      Effective on each Business Day after the Closing Date
or, in the case of a Subsidiary Originator that is not a party hereto on the
Closing Date, the Business Day on which such Subsidiary Originator becomes a
party hereto) through and including such Originator's Termination Date (the
Closing Date and each such other Business Day, a "PURCHASE DATE"), in
consideration for the Purchase Price paid to such Originator, without recourse
(except to the extent expressly provided herein), and Buyer does hereby purchase
from such Originator, all of such Originator's right, title and interest in and
to all Future Receivables existing as of the close of business on the Business
Day immediately preceding such Purchase Date, together with all Related Security
and Collections associated therewith. Buyer shall be obligated to pay the
Purchase Price for the Receivables purchased hereunder from each Originator in
accordance with Section 1.3.

                  (b)      On each Reporting Date, each Originator shall (or
shall require Servicer to) deliver to Buyer (with a copy to Administrator at any
time while the Loan Agreement remains in effect) a report in substantially the
form of Exhibit VI hereto (each such report being herein called a "PURCHASE
REPORT") with respect to the Receivables sold by such Originator during the
Calculation Period then most recently ended. In addition to, and not in
limitation of, the foregoing, in connection with the payment of the Purchase
Price for any Receivables purchased hereunder, Buyer may request that the
applicable Originator deliver, and such Originator shall deliver, such
information or documents as Buyer may reasonably request.

                                       3
<PAGE>   9

         Section  1.3      Payment for the Purchases.

                  (a)      The Purchase Price for each Subsidiary Existing
Receivable shall be payable by the Parent Originator to the applicable
Subsidiary Originator in connection with the Initial Parent Sale on the Closing
Date by the issuance of a promissory note in the form of Exhibit VIII hereto
(each, a "PARENT NOTE") in the amount of such Purchase Price. The Purchase Price
for each Purchase by Buyer from an Originator of its Receivables shall be
payable in full by Buyer on the applicable Purchase Date in the following
manner:

                  (i) by delivery of immediately available funds to Parent
         Originator for the account of the applicable Originator;

                  (ii) if the applicable Originator is Parent Originator, by
         delivery to the Parent Originator or its designee of the proceeds of a
         revolving loan from Parent Originator to Buyer (each, a "PURCHASE PRICE
         LOAN") in an amount not to exceed the least of (A) the remaining unpaid
         portion of such Purchase Price, (B) the maximum Purchase Price Loan
         that could be borrowed without rendering Buyer's Net Worth less than
         the Required Capital Amount, and (C) fifteen percent (15%) of such
         Purchase Price. Parent Originator is hereby authorized by Buyer to
         endorse on the schedule attached to the First Step Note an appropriate
         notation evidencing the date and amount of each advance thereunder, as
         well as the date of each payment with respect thereto, PROVIDED THAT
         the failure to make such notation shall not affect any obligation of
         Buyer thereunder, and/or

                  (iii) if the applicable Originator is Parent Originator, at
         Parent Originator's election unless its Termination Date has occurred,
         by accepting a contribution to its capital in an amount equal to the
         remaining unpaid balance of such Purchase Price.

Parent Originator irrevocably agrees to advance each Purchase Price Loan
requested by Buyer from it on or prior to Parent Originator's Termination Date.
The Purchase Price Loans owing to Parent Originator shall be evidenced by, and
shall be payable in accordance with the terms and provisions of the First Step
Note and shall be payable solely from funds which Buyer is not required under
the Receivables Sale Agreement to set aside for the benefit of, or otherwise pay
over to, Borrower.

                  (b)      No Originator shall be obligated to (but may, at its
option) sell Receivables to Buyer from and after its Termination Date, and
Parent Originator shall not be obligated to contribute Future Receivables to
Buyer pursuant to Section 1.3(a)(iii) above from and after its Termination Date.

                  (c)      Although the Purchase Price for each Future
Receivable shall be due and payable in full by Buyer to the applicable
Originator on the Purchase Date immediately

                                       4
<PAGE>   10

following the Business Day on which such Future Receivable came into existence,
settlement of the Purchase Price between Buyer and each Originator shall be
effected on a monthly basis on Settlement Dates with respect to all Future
Receivables originated during the same Calculation Period and based on the
information contained in the Purchase Report delivered by or on behalf of such
Originator for the Calculation Period then most recently ended. Although
settlement shall be effected on Settlement Dates, increases or decreases in the
amount owing to Parent Originator under the First Step Note and any contribution
of capital by Parent Originator to Buyer made pursuant to Section 1.3(a)(iii)
shall be deemed to have occurred and shall be effective as of the last Business
Day of the Calculation Period to which such settlement relates.

                  (d)      Parent Originator hereby agrees to act as the agent
of each of the Subsidiary Originators for the purposes of receiving payments of
Purchase Price owing to such Subsidiary Originator. Each payment received by
Parent Originator for the account of any other Originator shall be credited to
an account maintained by Parent Originator on its books in the name of such
Subsidiary Originator and, upon demand, shall be forthwith paid over to such
Subsidiary Originator or its designee.

         Section 1.4         Purchase Price Credit Adjustments.  If on any day:

                  (a)      the Outstanding Balance of any Receivable purchased
from an Originator is:

                           (i)      reduced as a result of any defective,
         rejected or returned goods or services, any discount or adjustment or
         otherwise by such Originator (OTHER THAN a reduction in such
         Outstanding Balance resulting from (A) cash Collections received by
         Buyer or Servicer, on Buyer's behalf, on account of such Receivable's
         Outstanding Balance, or (B) any reserve established against or
         write-off of such Receivable that is made due to its becoming a
         Defaulted Receivable),

                           (ii)     reduced (in whole or in part) as a result of
         a setoff in respect of any claim by any Person (whether such claim
         arises out of the same or a related transaction or an unrelated
         transaction), or

                  (b)      any of the representations and warranties set forth
in Sections 2.1(h), (i), (j), (r), (s), (t), (u), the second sentence of Section
2.1(q) hereof and the last clause (relating to bulk sales laws) of Section
2.1(c) are not true when made or deemed made with respect to any Receivable,

then, in such event, Buyer shall be entitled to a credit (each, a "PURCHASE
PRICE CREDIT") against the Purchase Price otherwise owing to such Originator
hereunder equal to (x) in the case of a reduction under the preceding clause
(a)(i) or (ii), the amount of such whole or partial reduction, and (y) in the
case of a misrepresentation described in the preceding clause (b), the full
amount of the Purchase Price of such Receivable. If such Purchase Price Credit
exceeds the aggregate

                                       5
<PAGE>   11

Purchase Price owing to such Originator on any day, such Originator shall pay
the remaining amount of such Purchase Price Credit in cash (i) if such
Originator's Termination Date has not occurred, not later than the next
Settlement Date, and (ii) if such Originator's Termination Date has occurred,
immediately; PROVIDED THAT, in the case of Parent Originator, if Parent
Originator's Termination Date has not occurred, Parent Originator shall be
allowed to deduct the remaining amount of any Purchase Price Credit owing by it
from any indebtedness owed to it under the First Step Note.

         Section 1.5       Payments and Computations, Etc. All amounts to be
paid or deposited by Buyer hereunder shall be paid or deposited in accordance
with the terms hereof on the day when due in immediately available funds to the
account of the applicable Originator designated from time to time by such
Originator or as otherwise directed by such Originator. In the event that any
payment owed by any Person hereunder becomes due on a day that is not a Business
Day, then such payment shall be made on the next succeeding Business Day. If any
Person fails to pay any amount hereunder when due, such Person agrees to pay, on
demand, the Default Fee in respect thereof until paid in full; PROVIDED,
HOWEVER, that such Default Fee shall not at any time exceed the maximum rate
permitted by applicable law. All computations of interest payable hereunder
shall be made on the basis of a year of 360 days for the actual number of days
(including the first but excluding the last day) elapsed.

         Section 1.6       License of Software.

                  (a)      To the extent that any software used by an Originator
to account for the Receivables originated by it is non-transferable, each
Originator hereby grants to Buyer, Servicer and their respective assigns, an
irrevocable, non-exclusive license to use, without royalty or payment of any
kind, all such software used by such Originator to account for such Receivables,
to the extent necessary to administer such Receivables, whether such software is
owned by such Originator or is owned by others and used by such Originator under
license agreements with respect thereto, PROVIDED THAT should the consent of any
licensor of such software be required for the grant of the license described
herein, to be effective, such Originator hereby agrees that upon the request of
Buyer (or its assigns), such Originator will use its reasonable efforts to
obtain the consent of such third-party licensor. The license granted hereby
shall be irrevocable until the later to occur of (i) indefeasible payment in
full of the Obligations (as defined in the Loan Agreement), and (ii) the date on
which each of this Agreement and the Loan Agreement terminates in accordance
with its terms.

                  (b)      Each Originator (i) shall take such action requested
by Buyer and/or at any time while the Loan Agreement remains in effect,
Administrator, from time to time hereafter, that may be necessary or appropriate
to ensure that Buyer and its assigns have an enforceable ownership interest in
the records included in the Receivable Files relating to the Receivables
purchased from such Originator hereunder, and (ii) shall use its reasonable
efforts to ensure that Buyer, Servicer and their respective assigns each has an
enforceable right (whether by

                                       6
<PAGE>   12

license or sublicense or otherwise) to use all of the computer software used to
account for such Receivables and/or to recreate such records.

         Section 1.7       Intention of the Parties; Marking of Records; Further
Assurances. It is the intention of the parties hereto that the Initial Parent
Sale, the Initial First Step Capital Contribution and each subsequent
contribution or Purchase of Receivables under this Agreement shall constitute a
sale or other absolute transfer and assignment, which sale or other transfer is
absolute and irrevocable and provides Buyer with the full benefits of ownership
of the Receivables. Except for the Purchase Price Credits owed to the applicable
Originator pursuant to Section 1.4, each sale of Future Receivables hereunder by
such Originator is made without recourse to such Originator; PROVIDED, HOWEVER,
that (i) such Originator shall be liable to Buyer and each of its assigns for
all representations, warranties, covenants and indemnities made by such
Originator pursuant to the terms of the Transaction Documents to which such
Originator is a party, and (ii) such sale does not constitute, and is not
intended to result in, an assumption by Buyer or any assignee thereof of any
obligation of such Originator or any other Person arising in connection with the
Receivables, the related Contracts and/or other Related Security or any other
obligations of such Originator. In view of the intention of the parties hereto
that each Purchase of Receivables made hereunder shall constitute a purchase and
sale of such Receivables rather than a loan secured thereby, each Originator
agrees that it will, on or prior to the date on which such Originator becomes a
party to this Agreement and in accordance with Section 4.1(e)(ii), mark its
master data processing records relating to the Receivables originated by it with
a legend stating that Buyer has purchased such Receivables and to note in its
financial statements that its Receivables have been sold to Buyer and
ultimately, to Borrower. Upon the request of Buyer or any of its assigns, each
Originator will execute and file such financing or continuation statements, or
amendments thereto or assignments thereof, and such other instruments or
notices, as may be necessary or appropriate to perfect and maintain the
perfection of Buyer's ownership interest in the Receivables and the Related
Security (other than Excluded Items) that is subject to Article 9 of the UCC and
Collections with respect thereto, or as Buyer or any of its assigns may
reasonably request.

         Section 1.8       Characterization; Grant of Security Interest. If,
notwithstanding the intention of the parties expressed in Section 1.7, any sale,
dividend or contribution by any Originator of Receivables hereunder shall be
characterized as a secured loan and not a sale or such sale, dividend or
contribution shall for any reason be ineffective or unenforceable, then this
Agreement shall be deemed to constitute a security agreement under the UCC and
other applicable law. For this purpose and without being in derogation of the
parties' intention that each sale, dividend or contribution of Receivables by
each Originator hereunder shall constitute a true sale or other outright
conveyance thereof: Each Originator hereby grants to Buyer a valid and
continuing security interest in all of such Originator's right, title and
interest in, to and under all Receivables which are now existing or hereafter
created by such Originator, all Collections and Related Security with respect
thereto, all other rights and payments relating to such Receivables and all
proceeds of the foregoing to secure the prompt and complete payment of a

                                       7
<PAGE>   13

loan deemed to have been made in an amount equal to the Purchase Price of the
Receivables purchased from such Originator together with all other obligations
of such Originator hereunder, which security interest shall be prior to all
other Adverse Claims thereto. Buyer and its assigns shall have, in addition to
the rights and remedies which they may have under this Agreement, all other
rights and remedies provided to a secured creditor under the UCC and other
applicable law, which rights and remedies shall be cumulative.

                                   ARTICLE II
                         REPRESENTATIONS AND WARRANTIES

         Section 2.1       Representations and Warranties of Originators. On the
date on which it becomes a party to this Agreement and on each Purchase Date
thereafter, each Originator hereby represents and warrants to Buyer, as to such
Originator and the Receivables originated by it, as follows:

                  (a)      Existence and Power. Such Originator is a corporation
duly incorporated under the laws of the state indicated after its name in the
preamble to this Agreement (such Originator's "APPLICABLE STATE"). Such
Originator is validly existing and in good standing under the laws of its
Applicable State and is duly qualified to do business and is in good standing as
a foreign corporation, and has and holds all corporate power and all
governmental licenses, authorizations, consents and approvals required to carry
on its business in each jurisdiction in which its business is conducted except
where the failure to so qualify or so hold could not reasonably be expected to
have an Originator Material Adverse Effect.

                  (b)      Power and Authority; Due Authorization, Execution and
Delivery. The execution and delivery by such Originator of this Agreement (or a
Joinder Agreement) and each other Transaction Document to which it is a party,
and the performance of its obligations hereunder and thereunder, and such
Originator's use of the proceeds of the Purchases made from it hereunder, are
within its corporate powers and authority and have been duly authorized by all
necessary corporate action on its part. This Agreement (or a Joinder Agreement)
and each other Transaction Document to which such Originator is a party has been
duly executed and delivered by such Originator.

                  (c)      No Conflict. The execution and delivery by such
Originator of this Agreement (or a Joinder Agreement) and each other Transaction
Document to which it is a party, and the performance of its obligations
hereunder and thereunder do not contravene or violate (i) its Organizational
Documents, (ii) any law, rule or regulation applicable to it, (iii) any
restrictions under any agreement, contract or instrument to which it is a party
or by which it or any of its property is bound, or (iv) any order, writ,
judgment, award, injunction or decree binding on or affecting it or its
property, and do not result in the creation or imposition of any Adverse Claim
on assets of such Originator or its Subsidiaries (except as created hereunder)
except, in any case described in clauses (i)-(iv) inclusive, where such
contravention or violation

                                       8
<PAGE>   14

could not reasonably be expected to have an Originator Material Adverse Effect;
and no transaction contemplated hereby requires compliance with any bulk sales
act or similar law.

                  (d)      Governmental Authorization. Other than the filing of
the financing statements required hereunder, no authorization or approval or
other action by, and no notice to or filing with, any Governmental Authority or
regulatory body is required for the due execution and delivery by such
Originator of this Agreement (or a Joinder Agreement) and each other Transaction
Document to which it is a party and the performance of its obligations hereunder
and thereunder.

                  (e)      Actions, Suits. Except as disclosed in the SEC
Filings, there is no litigation, arbitration, governmental investigation,
proceeding or inquiry pending or, to the knowledge of any of their officers,
threatened against or affecting such Originator or any of its Subsidiaries which
could reasonably be expected to have an Originator Material Adverse Effect or
which seeks to prevent, enjoin or delay the making or repayment of any Purchase
Price Loans. Other than any liability incident to any litigation, arbitration or
proceeding which could not reasonably be expected to have an Originator Material
Adverse Effect, such Originator and its Subsidiaries have no material contingent
obligations not provided for or disclosed in the SEC Filings.

                  (f)      Binding Effect. This Agreement (or the applicable
Joinder Agreement) and each other Transaction Document to which such Originator
is a party constitute the legal, valid and binding obligations of such
Originator enforceable against such Originator in accordance with their
respective terms, except as such enforcement may be limited by applicable
bankruptcy, insolvency, reorganization or other similar laws relating to or
limiting creditors' rights generally and by general principles of equity
(regardless of whether enforcement is sought in a proceeding in equity or at
law).

                  (g)      Accuracy of Information. All written information
heretofore furnished by such Originator or any of its Affiliates to Buyer (or
its assigns) for purposes of or in connection with this Agreement, any of the
other Transaction Documents or any transaction contemplated hereby or thereby
is, and all such information hereafter furnished by such Originator or any of
its Affiliates to Buyer (or its assigns) will be, true and accurate in every
material respect on the date such written information is stated or certified and
does not and will not contain any material misstatement of fact or omit to state
a material fact or any fact necessary to make the statements contained therein,
taken as a whole, not misleading.

                  (h)      Use of Proceeds. No portion of any Purchase Price
payment to such Originator hereunder will be used for a purpose that violates,
or would be inconsistent with, any law, rule or regulation applicable to such
Originator.

                  (i)      Good Title. Immediately prior to each Purchase from
such Originator hereunder and upon the creation of each Future Receivable, such
Originator (i) is the legal and beneficial owner of the Future Receivables
originated by it and (ii) is the legal and

                                       9
<PAGE>   15

beneficial owner of the Related Security with respect thereto or possesses a
valid and perfected security interest therein, in each case, free and clear of
any Adverse Claim, except as created by the Transaction Documents. There have
been duly filed all financing statements or other similar instruments or
documents necessary under the UCC (or any comparable law) of all appropriate
jurisdictions to perfect such Originator's ownership interest in each such
Receivable, its Collections and the Related Security except for Excluded Items.

                  (j)      Perfection. This Agreement, together with the filing
of the financing statements contemplated hereby, is effective to transfer to
Buyer (and Buyer shall acquire from such Originator) (i) legal and equitable
title to, with the right to sell and encumber each Receivable originated by such
Originator, whether now existing and hereafter arising, together with the
Collections with respect thereto, and (ii) all of such Originator's right, title
and interest in the Related Security associated with each such Receivable
(except for Excluded Items), in each case, free and clear of any Adverse Claim,
except as created by the Transactions Documents. There have been duly filed all
financing statements or other similar instruments or documents necessary under
the UCC (or any comparable law) of all appropriate jurisdictions to perfect
Buyer's ownership interest in such Receivables, the Related Security (except for
Excluded Items) and the Collections.

                  (k)      Places of Business and Locations of Records. Such
Originator's chief executive office, principal place(s) of business, and
locations where it keeps all of its Receivable Files are located at the
address(es) listed on Exhibit II or such other locations of which Buyer has been
notified in accordance with Section 4.2(a) in jurisdictions where all action
required by Section 4.2(a) has been taken and completed. Such Originator's
Federal Employer Identification Number is correctly set forth on Exhibit II.

                  (l)      LockBoxes, Etc. The addresses of all existing
LockBoxes and the related banks, account names and account numbers for all
existing LockBox Accounts and Depositary Accounts are correctly listed on
Exhibit III. All such LockBoxes, LockBox Accounts and Depositary are included in
the Related Security sold to Buyer hereunder. Such Originator has not granted
any Person, other than Buyer (and Borrower and Administrator, as Buyer's assigns
or pledgees) dominion and control of any LockBox, LockBox Account or Depositary
Account, or the right to take dominion and control of any such LockBox, LockBox
Account or Depositary Account a future time or upon the occurrence of a future
event.

                  (m)      Originator Material Adverse Effect. Since December
31, 2000, no event has occurred that would have an Originator Material Adverse
Effect.

                  (n)      Names. In the past five (5) years, such Originator
has not used any corporate names, trade names or assumed names other than (i)
the name in which it has executed this Agreement (or, as applicable, its Joinder
Agreement) and (ii) as listed on Exhibit II.

                                       10
<PAGE>   16

                  (o)      Ownership of Buyer. Parent Originator owns, directly
or indirectly, 100% of the issued and outstanding equity interests of Buyer,
free and clear of any Adverse Claims. Such equity interests are validly issued,
fully paid and nonassessable, and there are no options, warrants or other rights
to acquire securities of Buyer.

                  (p)      Not a Holding Company or an Investment Company. Such
Originator is not a "holding company" or a "subsidiary holding company" of a
"holding company" within the meaning of the Public Utility Holding Company Act
of 1935, as amended, or any successor statute. Such Originator is not an
"investment company" within the meaning of the Investment Company Act of 1940,
as amended, or any successor statute.

                  (q)      Compliance with Law. Such Originator has complied
with all applicable laws, rules, regulations, orders, writs, judgments,
injunctions, decrees or awards to which it may be subject, except where the
failure to so comply could not reasonably be expected to have an Originator
Material Adverse Effect. Each Receivable originated by such Originator, together
with the Contract related thereto, does not contravene any laws, rules or
regulations applicable thereto (including, without limitation, laws, rules and
regulations relating to truth in lending, fair credit billing, fair credit
reporting, equal credit opportunity, fair debt collection practices and
privacy), and no part of such Contract is in violation of any such law, rule or
regulation, except where such contravention or violation could not reasonably be
expected to have an Originator Material Adverse Effect.

                  (r)      Compliance with Credit and Collection Policy. Such
Originator has complied in all material respects with the Credit and Collection
Policy with regard to each Receivable originated by it and the related Contract,
and has not made any change to such Credit and Collection Policy, except such
material change as to which Buyer (or its assigns) has been notified in
accordance with Section 4.1(a)(vii).

                  (s)      Payments to Originators. With respect to each
Receivable sold to Buyer by such Originator hereunder, the Purchase Price
received by such Originator constitutes reasonably equivalent value in
consideration therefor. No transfer hereunder by such Originator of any
Receivable is or may be voidable under any section of the Bankruptcy Reform Act
of 1978 (11 U.S.C.ss.ss.101 et seq.), as amended.

                  (t)      Enforceability of Contracts. Each Contract with
respect to each Receivable sold by such Originator hereunder is effective to
create, and has created, a legally valid and binding obligation of the related
Obligor to pay the Outstanding Balance of the Receivable created thereunder and
any accrued interest thereon, enforceable against the Obligor in accordance with
its terms, except as such enforcement may be limited by applicable bankruptcy,
insolvency, reorganization or other similar laws relating to or limiting
creditors' rights generally and by general principles of equity (regardless of
whether enforcement is sought in a proceeding in equity or at law).

                                       11
<PAGE>   17

                  (u)      Eligible Receivables. Each Receivable originated by
such Originator which is reflected in any Purchase Report as an Eligible
Receivable was an Eligible Receivable on the date of its acquisition by Buyer
hereunder.

                  (v)      Accounting. The manner in which such Originator
accounts for the transactions contemplated by this Agreement in its financial
statements does not jeopardize the characterization of the transactions
contemplated herein as being true sales.

                  (w)      Solvency. Such Originator is Solvent.

                                  ARTICLE III

                             CONDITIONS OF PURCHASE

         Section 3.1       Conditions Precedent to Purchase. The initial
Purchase from each Originator under this Agreement is subject to the conditions
precedent that (a) Buyer shall have issued 100% of its capital stock to Parent
Originator and shall have thereafter been capitalized with the Initial First
Step Contribution, and (b) Buyer shall have received on or before the date of
such Purchase those documents listed on Schedule A.

         Section 3.2       Conditions Precedent to Subsequent Payments. Buyer's
obligation to pay any Originator for any Future Receivable originated by it
shall be subject to the further conditions precedent that: (a) as of the
applicable Purchase Date, Buyer (or its assigns) shall have received such other
documents as it may reasonably request and (b) as of the applicable Purchase
Date, the following statements shall be true (and acceptance of the proceeds of
any payment for such Future Receivable shall be deemed a representation and
warranty by the applicable Originator that such statements are then true):

                  (i)      the representations and warranties of such Originator
         set forth in Article II are true and correct in all material respects
         on and as of the date such Future Receivable came into existence as
         though made on and as of such date; PROVIDED THAT the materiality
         threshold in the preceding clause shall not be applicable with respect
         to any representation or warranty which itself contains a materiality
         threshold; and

                  (ii)     no event has occurred and is continuing that will
         constitute a Termination Event or an Unmatured Termination Event.

Notwithstanding the foregoing conditions precedent, upon the applicable Purchase
Date for any Future Receivable, title to such Receivable and the Related
Security and Collections with respect thereto shall vest in Buyer, whether or
not the conditions precedent to Buyer's obligation to pay for such Receivable
were in fact satisfied and whether or not the Purchase Price has actually been
paid as of such date; PROVIDED, HOWEVER, that failure of the applicable
Originator to satisfy any of the foregoing conditions precedent shall give rise
to a right of Buyer to rescind the related

                                       12
<PAGE>   18

Purchase and direct such Originator to pay to Buyer an amount equal to the
Purchase Price payment, if any, made with respect to the Future Receivables
included in such Purchase.

                                   ARTICLE IV
                                    COVENANTS

         Section 4.1       Affirmative Covenants of Originators. Until the date
on which this Agreement terminates in accordance with its terms, each Originator
hereby covenants as set forth below:

                  (a)      Financial Reporting. Such Originator will maintain,
for itself and each Consolidated Subsidiary, a system of accounting established
and administered in accordance with generally accepted accounting principles,
and furnish to Buyer (and its assigns):

                           (i)      Annual Reporting. Within 95 days after the
close of each of its fiscal years, an unqualified audit report (with all amounts
stated in Dollars) certified by independent certified public accountants of
recognized national standing, prepared in accordance with GAAP on a consolidated
basis for ChoicePoint Inc. and its Consolidated Subsidiaries, including a
consolidated balance sheet and the related consolidated statements of income,
cash flows and statements of changes in common shareholders' equity, setting
forth in each case in comparative form the figures for such fiscal year and the
previous fiscal year (it being understood that the requirement to deliver such
information may be satisfied by the delivery of ChoicePoint Inc.'s annual report
on Form 10-K for such fiscal year so long as such annual report continues to
include such information).

                           (ii)     Quarterly Reporting. Within 50 days after
the close of the first three quarterly periods of each of its fiscal years, for
ChoicePoint Inc. and its Consolidated Subsidiaries, an unaudited consolidated
balance sheet as at the close of each such period and a consolidated income
statement and a statement of cash flows for the period from the beginning of
such fiscal year to the end of such quarter, setting forth in the case of such
statements of income and cash flows in comparative form the figures for the
corresponding quarter and the corresponding portion of ChoicePoint Inc.'s
previous fiscal year (it being understood that the requirement to deliver such
information may be satisfied by the delivery of ChoicePoint Inc.'s quarterly
report on Form 10-Q for such fiscal quarter so long as such quarterly report
continues to include such information), all certified (subject to normal
year-end adjustments) as to fairness of presentation, preparation in accordance
with GAAP and consistency by a Financial Officer of ChoicePoint Inc.

                           (iii)    Compliance Certificate. Together with the
financial statements required hereunder, a compliance certificate in
substantially the form of Exhibit IV signed by a Financial Officer of
ChoicePoint Inc. and dated the date of such annual financial statement or such
quarterly financial statement, as the case may be.

                                       13
<PAGE>   19

                           (iv)     S.E.C. Filings. Promptly upon the filing
thereof, copies of all tender offer documents and reports on Form 8-K (or any
successor form thereto) which ChoicePoint Inc. or any of its Subsidiaries files
with the Securities and Exchange Commission.

                           (v)      Change in Credit and Collection Policy. At
least thirty (30) days prior to the effectiveness of any material change in or
material amendment to the Credit and Collection Policy, a copy of the Credit and
Collection Policy then in effect and a notice (A) indicating such proposed
material change or material amendment, and (B) if such proposed change or
amendment would be reasonably likely to adversely affect the collectibility of
the Receivables or decrease the credit quality of any newly created Receivables
in any material respect, requesting Buyer's, Borrower's (and, if the Loan
Agreement remains in effect, Administrator's) consent thereto.

                           (vi)     Other Information. Promptly, from time to
time, such other information, documents, records or reports relating to the
Receivables or the condition or operations, financial or otherwise, of such
Originator as Buyer (or its assigns) may from time to time reasonably request in
order to protect the interests of Buyer (and its assigns) under or as
contemplated by this Agreement.

                  (b)      Notices. As soon as practicable and in any event
within one (1) Business Day after learning of any of the following, such
Originator will notify Buyer (or its assigns) in writing of any of the
following, describing the same and, if applicable, the steps being taken with
respect thereto:

                           (i)      Termination Events or Unmatured Termination
Events. The occurrence of each Termination Event and each Unmatured Termination
Event, by a statement of a Financial Officer of such Originator.

                           (ii)     Judgment and Proceedings. (1) The entry of
any judgment or decree against ChoicePoint Inc. or any of its Subsidiaries if
the aggregate amount of all judgments and decrees then outstanding against
ChoicePoint Inc. and its Subsidiaries exceeds $5,000,000 after deducting (a) the
amount with respect to which ChoicePoint Inc. or such Subsidiary is insured and
with respect to which the insurer has assumed responsibility in writing or
undertaken the defense with a reservation of rights, and (b) the amount for
which ChoicePoint Inc. or such Subsidiary is otherwise indemnified if the terms
of such indemnification are satisfactory to Buyer (or its assigns), and (2) the
institution of any litigation, arbitration proceeding or governmental proceeding
against such Originator which, individually or in the aggregate, could
reasonably be expected to have an Originator Material Adverse Effect.

                           (iii)    Originator Material Adverse Effect. The
occurrence of any event or condition that has had, or could reasonably be
expected to have, an Originator Material Adverse Effect.

                                       14
<PAGE>   20

                  (c)      Compliance with Laws and Preservation of Existence.
Such Originator will comply in all respects with all applicable laws, rules,
regulations, orders, writs, judgments, injunctions, decrees or awards to which
it may be subject, except where the failure to so comply could not reasonably be
expected to have an Originator Material Adverse Effect. Such Originator will
preserve and maintain its legal existence, rights, franchises and privileges in
the jurisdiction of its organization, and qualify and remain qualified in good
standing as a foreign entity in each jurisdiction where its business is
conducted, except where the failure to so qualify or remain in good standing
could not reasonably be expected to have an Originator Material Adverse Effect.

                  (d)      Audits. Such Originator will furnish to Buyer and, at
any time while the Loan Agreement remains in effect, Administrator from time to
time such information with respect to such Originator and the Receivables sold
or contributed by it as Buyer (or, at any time while the Loan Agreement remains
in effect, Administrator) may reasonably request. Such Originator will, from
time to time during regular business hours as requested by Buyer (or, at any
time while the Loan Agreement remains in effect, Administrator), upon reasonable
notice and at the sole cost of such Originator, permit an accounting firm
designated by Buyer (or, at any time while the Loan Agreement remains in effect,
by Administrator), on at least a semi-annual basis: (i) to examine and make
copies of and abstracts from all Receivable Files in the possession or under the
control of such Originator and other records relating to the Receivables
originated by such Originator, the Collections and the Related Security,
including, without limitation, the related Contracts, and (ii) to visit the
offices and properties of such Originator for the purpose of examining such
materials described in clause (i) above, and to discuss matters relating to such
Originator's financial condition or the Receivables and the Related Security or
such Originator's performance under any of the Transaction Documents or such
Originator's performance under the Contracts and, in each case, with any of the
officers or employees of such Originator having knowledge of such matters;
PROVIDED, HOWEVER, that unless and until a Termination Event shall have occurred
and be continuing, the Originators in the aggregate shall not be responsible to
pay for more than two (2) such examinations in any period beginning on July 2 of
one year and ending on July 1 of the following year.

                  (e)      Keeping and Marking of Records and Books.

                           (i)      Such Originator will maintain and implement
         administrative and operating procedures (including, without limitation,
         an ability to recreate records evidencing Receivables originated by it
         in the event of the destruction of the originals thereof), and keep and
         maintain all documents, books, records and other information reasonably
         necessary or advisable for the collection of all Receivables
         (including, without limitation, records adequate to permit the
         immediate identification of each Future Receivable originated by it and
         all Collections of and adjustments to each Existing Receivable
         originated by it). Such Originator will give Buyer (or its assigns)

                                       15
<PAGE>   21

         notice of any material change in the administrative and operating
         procedures referred to in the previous sentence.

                           (ii)     Such Originator will (A) on or prior to the
         date on which such Originator becomes a party hereto, mark its master
         data processing records and other books and records relating to the
         Receivables originated by it with a legend, acceptable to Buyer (or its
         assigns), describing Buyer's ownership interests in such Receivables
         and (B) upon the request of Buyer (or its assigns) from and after the
         occurrence of a Termination Event: (x) mark each invoice evidencing any
         Receivable originated by it with a legend describing Buyer's ownership
         thereof and (y) at any time after ChoicePoint Inc. (or one of its
         Affiliates) is no longer acting as Servicer, deliver to Buyer (or its
         assigns) all Contracts relating to such Receivables.

                  (f)      Compliance with Contracts and Credit and Collection
Policy. Such Originator will timely and fully (i) perform and comply in all
material respects with all provisions, covenants and other promises required to
be observed by it under the Contracts related to the Receivables originated by
it, and (ii) comply in all respects with the Credit and Collection Policy in
regard to each such Receivable and the related Contract.

                  (g)      Ownership. Such Originator will take all necessary
action to establish and maintain, irrevocably in Buyer: (A) legal and equitable
title to the Receivables originated by such Originator and the Collections and
(B) all of such Originator's right, title and interest in the Related Security
associated with the Receivables originated by it described in the preceding
clause (A) (except for Excluded Items), in each case, free and clear of any
Adverse Claims other than Adverse Claims in favor of Buyer (and its assigns)
(INCLUDING, WITHOUT LIMITATION, the filing of all financing statements or other
similar instruments or documents necessary under the UCC (or any comparable law)
of all appropriate jurisdictions to perfect Buyer's interest in such
Receivables, Related Security (except for Excluded Items) and Collections and
such other action to perfect, protect or more fully evidence the interest of
Buyer as Buyer (or its assigns) may reasonably request).

                  (h)      Borrower's, Administrator's and Lender's Reliance.
Such Originator acknowledges that Borrower is entering into the transactions
contemplated by the Receivables Sale Agreement, and Administrator and Lender are
entering into the transactions contemplated by the Loan Agreement, in reliance
upon Buyer's identity as a legal entity that is separate from such Originator
and any Affiliates thereof. Therefore, from and after the date on which such
Originator becomes a party hereto, such Originator will take all reasonable
steps within such Originator's control to maintain Buyer's identity as a
separate legal entity and to make it manifest to third parties that Buyer is an
entity with assets and liabilities distinct from those of such Originator and
any Affiliates thereof and not just a division of such Originator or any such
Affiliate. Without limiting the generality of the foregoing and in addition to
the other covenants set forth herein, such Originator (i) will not hold itself
out to third parties as liable for the debts of Buyer nor purport to own any of
the Receivables and other assets acquired by Buyer, (ii) will

                                       16
<PAGE>   22

not take any action that would cause Buyer to violate the "separateness
covenants" set forth in Section 7.1(i) of the Loan Agreement and (iii) will
cause all tax liabilities arising in connection with the transactions
contemplated herein or otherwise to be allocated between such Originator and
Buyer on an arm's-length basis and in a manner consistent with the procedures
set forth in U.S. Treasury Regulations ss.ss.1.1502-33(d) and 1.1552-1.

                  (i)      Collections. In the event any payments relating to
Receivables are remitted directly to such Originator or any Affiliate of such
Originator, such Originator will remit (or will cause all such payments to be
remitted) directly to a LockBox Account or a Depositary Account within one (1)
Business Day following receipt thereof and, at all times prior to such
remittance, such Originator will itself hold or, if applicable, will cause such
payments to be held in trust for the exclusive benefit of Buyer and its assigns.
Such Originator will transfer exclusive ownership, dominion and control of each
LockBox, LockBox Account and Depositary Account to Buyer and, will not grant the
right to take dominion and control of any LockBox, any LockBox Account or any
Depositary Account at a future time or upon the occurrence of a future event to
any Person, except to Buyer, as contemplated by this Agreement, to Borrower, as
contemplated by the Receivables Sale Agreement, and, at any time while the Loan
Agreement remains in effect, to Administrator, as contemplated by the Loan
Agreement.

                  (j)      Taxes. Such Originator will file all tax returns and
reports required by law to be filed by it and promptly pay all Covered Taxes at
any time owing, except any such Covered Taxes which are not yet delinquent or
are being diligently contested in good faith by appropriate proceedings and for
which adequate reserves in accordance with GAAP shall have been set aside on its
books.

         Section 4.2       Negative Covenants of Originators. Until the date on
which this Agreement terminates in accordance with its terms, each Originator
hereby covenants that:

                  (a)      Name Change, Offices and Records. Such Originator
will not change its (i) state of organization, (ii) name, (iii) identity or
structure (within the meaning of Article 9 of any applicable enactment of the
UCC) or relocate its chief executive office at any time while the location of
its chief executive office is relevant to perfection of Buyer's interest in the
Receivables or the associated Related Security (except for Excluded Items) and
Collections or any office where Receivable Files are kept unless, in each of the
foregoing cases, it shall have: (A) given Buyer (and, at any time while the Loan
Agreement remains in effect, Administrator) written notice thereof within 30
days thereafter and (B) delivered to Buyer or, at any time while the Loan
Agreement remains in effect, Administrator all financing statements, instruments
and other documents reasonably requested by Buyer or, at any time while the Loan
Agreement remains in effect, Administrator, in connection with such change or
relocation.

                  (b)      Change in Payment Instructions to Obligors. Such
Originator will not add or terminate any LockBox, LockBox Account or Depositary
Account, or make any change in the instructions to Obligors regarding payments
to be made to any LockBox, any LockBox

                                       17
<PAGE>   23

Account or any Depositary Account, unless Buyer and, if the Loan Agreement
remains in effect, Administrator shall have received, at least ten (10) days
before the proposed effective date therefor, (i) written notice of such
addition, termination or change and (ii) with respect to the addition of a
LockBox, LockBox Account or Depositary Account, an executed LockBox and
Collection Account Agreement; PROVIDED, HOWEVER, that such Originator may make
changes in instructions to Obligors regarding payments if such new instructions
require such Obligor to make payments to another existing LockBox, LockBox
Account or Depositary Account.

                  (c)      Modifications to Contracts and Credit and Collection
Policy. Such Originator will not make any change to the Credit and Collection
Policy that could reasonably be expected to adversely affect the collectibility
of the Receivables or decrease the credit quality of any of its newly created
Receivables. Except as otherwise permitted in its capacity as a sub-Servicer,
such Originator will not extend, amend or otherwise modify the terms of any
Receivable or any Contract related thereto other than in accordance with the
Credit and Collection Policy.

                  (d)      Sales, Adverse Claims. Such Originator will not sell,
assign (by operation of law or otherwise) or otherwise dispose of, or grant any
option with respect to, or create or suffer to exist any Adverse Claim upon
(including, without limitation, the filing of any financing statement) or with
respect to, any Receivable, Related Security or Collections, or upon or with
respect to any Contract under which any Receivable arises, or any LockBox,
LockBox Account or Depositary Account, or assign any right to receive income
with respect thereto (other than, in each case, the creation of the interests
therein in favor of Buyer provided for herein), and such Originator will defend
the right, title and interest of Buyer in, to and under any of the foregoing
property, against all claims of third parties claiming through or under such
Originator.

                  (e)      Accounting for Purchases. Such Originator will not,
and will not permit any Affiliate to, account for the transactions contemplated
hereby in any financial statements in any manner other than the sale (or other
outright conveyance) by such Originator to Buyer of the Receivables and the
associated Collections and Related Security except to the extent that such
transactions are not recognized on account of consolidated financial reporting
in accordance with generally accepted accounting principles.

                                   ARTICLE V
                               TERMINATION EVENTS

         Section 5.1       Termination Events.  The occurrence of any one or
more of the following events shall constitute a Termination Event with respect
to an Originator:

                  (a)      Such Originator shall fail to make any payment or
deposit required hereunder when due and such failure shall continue for three
(3) consecutive Business Days.

                                       18
<PAGE>   24

                  (b)      Any representation, warranty, certification or
statement made by such Originator in this Agreement, any other Transaction
Document or in any other document delivered pursuant hereto or thereto shall
prove to have been incorrect in any material respect when made or deemed made;
PROVIDED THAT the materiality threshold in the preceding clause shall not be
applicable with respect to any representation or warranty which itself contains
a materiality threshold and PROVIDED FURTHER, that any misrepresentation or
certification for which Buyer has actually received a Purchase Price Credit from
such Originator shall not constitute a Termination Event hereunder.

                  (c)      Such Originator shall breach any covenant contained
in Section 4.1(b)(i) which is not cured within three (3) Business Days, or such
Originator shall breach any covenant contained in Section 4.2(c) or 4.2(e),
which is not cured within thirty (30) days, or such Originator shall breach any
covenant contained in Section 4.2(a), (b) or (d).

                  (d)      Such Originator shall breach, fail to perform or
observe any covenant contained in any Section of this Agreement (which is not
covered by another subsection, paragraph or clause of this Section 5.1) or of
any other Transaction Document to which it is a party which is not remedied
within thirty (30) days after written notice from Buyer (or, at any time while
the Loan Agreement remains in effect, Administrator).

                  (e)      Failure of such Originator or any of its Subsidiaries
to pay any of its Material Debts when due; or the default by such Originator or
any of its Subsidiaries in the performance of any term, provision or condition
contained in any agreement under which such Material Debt was created or is
governed, or any other event shall occur or condition exist, the effect of which
is to cause, or to permit the holder or holders of such Material Debt to cause
such Material Debt to become due prior to its stated maturity; or any Material
Debt of such Originator or any of its Subsidiaries shall be declared to be due
and payable or required to be prepaid (other than by a regularly scheduled
payment or as a result of the sale of an asset securing such Material Debt)
prior to the stated maturity thereof.

                  (f)      (i) Such Originator shall generally not pay its debts
as such debts become due or shall admit in writing its inability to pay its
debts generally or shall make a general assignment for the benefit of creditors;
or (ii) any proceeding shall be instituted by or against such Originator seeking
to adjudicate it bankrupt or insolvent, or seeking liquidation, winding up,
reorganization, arrangement, adjustment, protection, relief or composition of it
or its debts under any law relating to bankruptcy, insolvency or reorganization
or relief of debtors, or seeking the entry of an order for relief or the
appointment of a receiver, trustee or other similar official for it or any
substantial part of its property or (iii) such Originator shall take any
corporate action to authorize any of the actions set forth in the foregoing
clauses (i) or (ii) of this subsection (f).

                  (g)      A Change of Control shall occur.

                                       19
<PAGE>   25

                  (h)      Such Originator or any of its Subsidiaries shall fail
within 30 days to pay, bond or otherwise discharge any judgment or order for the
payment of money in excess of $5,000,000, which is not stayed on appeal or
otherwise being appropriately contested in good faith.

                  (i)      The First Step Note shall be assigned, pledged or
otherwise transferred to any Person in violation of the last section thereof.

         Section 5.2       Remedies. Upon the occurrence and during the
continuation of a Termination Event, Buyer may take any of the following
actions: (i) declare the applicable Originator's Termination Date to have
occurred, whereupon such Originator's Termination Date shall forthwith occur,
without demand, protest or further notice of any kind, all of which are hereby
expressly waived by such Originator; PROVIDED, HOWEVER, that upon the occurrence
of a Termination Event described in Section 5.1(f), or of an actual or deemed
entry of an order for relief with respect to any Originator under the United
States Bankruptcy Code, such Originator's Termination Date shall automatically
occur, without demand, protest or any notice of any kind, all of which are
hereby expressly waived by each of the Originators and (ii) to the fullest
extent permitted by applicable law, declare that the Default Fee shall accrue
with respect to any amounts then due and owing by such Originator to Buyer. The
aforementioned rights and remedies shall be without limitation and shall be in
addition to all other rights and remedies of Buyer and its assigns otherwise
available under any other provision of this Agreement, by operation of law, at
equity or otherwise, all of which are hereby expressly preserved, including,
without limitation, all rights and remedies provided under the UCC, all of which
rights shall be cumulative.

                                   ARTICLE VI
                                 INDEMNIFICATION

         Section 6.1       Indemnities by Originators. Without limiting any
other rights that Buyer may have hereunder or under applicable law, each
Originator hereby agrees to indemnify (and pay upon demand to) Buyer and its
assigns, officers, directors, agents and employees (each an "ORIGINATOR
INDEMNIFIED PARTY") from and against any and all damages, losses, claims,
Covered Taxes, liabilities, costs, expenses and for all other amounts payable,
including reasonable attorneys' fees (which attorneys may be employees of Buyer
or any such assign) and disbursements (all of the foregoing being collectively
referred to as "ORIGINATOR INDEMNIFIED AMOUNTS") awarded against or incurred by
any of them arising out of any of the following:

                           (i)      any representation or warranty made by such
         Originator (or any officers of such Originator) under or in connection
         with any Purchase Report, this Agreement, any other Transaction
         Document to which such Originator is a party or any other information
         or report delivered by such Originator pursuant hereto or thereto for
         which Buyer has not received a Purchase Price Credit that shall have
         been false or incorrect when made or deemed made;

                                       20
<PAGE>   26

                           (ii)     the failure by such Originator, to comply
         with any applicable law, rule or regulation with respect to any
         Receivable or Contract related thereto, or the nonconformity of any
         Receivable or Contract included therein with any such applicable law,
         rule or regulation or any failure of such Originator to keep or perform
         any of its obligations, express or implied, with respect to any
         Contract;

                           (iii)    any failure of such Originator to perform
         its duties, covenants or other obligations in accordance with the
         provisions of this Agreement or any other Transaction Document to which
         such Originator is a party;

                           (iv)     any products liability, personal injury or
         damage, suit or other similar claim arising out of or in connection
         with merchandise, insurance or services that are the subject of any
         Contract to which such Originator is a party or any Receivable
         originated by such Originator;

                           (v)      any dispute, claim, offset or defense (other
         than discharge in bankruptcy of the Obligor or failure to pay due to
         financial inability) of the Obligor to the payment of any Receivable
         originated by such Originator (including, without limitation, a defense
         based on such Receivable or the related Contract not being a legal,
         valid and binding obligation of such Obligor enforceable against it in
         accordance with its terms), or any other claim resulting from the sale
         of the merchandise or service related to such Receivable or the
         furnishing or failure to furnish such merchandise or services;

                           (vi)     the commingling of Collections of
         Receivables originated by such Originator at any time with other funds;

                           (vii)    any investigation, litigation or
         proceeding related to or arising from this Agreement or any other
         Transaction Document to which such Originator is a party, the
         transactions contemplated hereby, such Originator's use of the
         proceeds of any Purchase from it hereunder, the ownership of the
         Receivables originated by such Originator or any other investigation,
         litigation or proceeding relating to such Originator in which any
         Originator Indemnified Party becomes involved as a result of any of
         the transactions contemplated hereby;

                           (viii)   any inability to litigate any claim against
         any Obligor in respect of any Receivable originated by such Originator
         as a result of such Obligor being immune from civil and commercial law
         and suit on the grounds of sovereignty or otherwise from any legal
         action, suit or proceeding;

                           (ix)     any failure to vest and maintain vested in
         Buyer, or to transfer to Buyer, legal and equitable title to, and
         ownership of, the Receivables originated by such Originator and the
         associated Collections, and all of such Originator's right, title and

                                       21
<PAGE>   27

         interest in the Related Security associated with such Receivables
         (other than Excluded Items), in each case, free and clear of any
         Adverse Claim;

                           (x)      the failure to have filed, or any delay in
         filing, financing statements or other similar instruments or documents
         under the UCC of any applicable jurisdiction or other applicable laws
         with respect to any Receivable originated by such Originator or the
         Related Security (other than Excluded Items) and Collections with
         respect thereto, and the proceeds of any thereof, whether at the time
         of the applicable Purchase from such Originator hereunder or at any
         subsequent time;

                           (xi)     any attempt by any Person to void any
         Purchase from such Originator hereunder under statutory provisions or
         common law or equitable action; and

                           (xii)    the failure of any Receivable originated by
         such Originator that is reflected as an Eligible Receivable on any
         Purchase Report prepared by such Originator (or by Servicer on its
         behalf) to be an Eligible Receivable at the time acquired by Buyer;

EXCLUDING, HOWEVER, (a) Originator Indemnified Amounts to the extent a final
judgment of a court of competent jurisdiction holds that such Originator
Indemnified Amounts resulted from gross negligence or willful misconduct on the
part of the Originator Indemnified Party seeking indemnification; (b) Originator
Indemnified Amounts to the extent the same includes losses in respect of
Receivables originated by that are uncollectible on account of the insolvency,
bankruptcy or lack of creditworthiness of the related Obligor; and (c) Excluded
Taxes. Nothing in this Section 6.1 shall limit the liability of any Originator
or limit the recourse of Buyer to such Originator for amounts otherwise
specifically provided to be paid by such Originator under the terms of this
Agreement.

         Section 6.2       Other Costs and Expenses. The Originators, jointly
and severally, agree to pay to Buyer, on demand, all reasonable out-of-pocket
costs and expenses in connection with (a) the preparation, execution and
delivery of this Agreement and the other documents to be delivered hereunder,
(b) the preparation, execution and delivery of any amendment hereto or waiver
hereof requested by any Originator, and (c) any and all reasonable costs and
expenses of Buyer, if any, including reasonable counsel fees and expenses, in
connection with the enforcement of this Agreement and the other documents
delivered hereunder.

         Section 6.3       Taxes. All payments by each Originator to or for the
account of Buyer (or any of its assigns) hereunder or under any other
Transaction Document to which such Originator is a party shall be made free and
clear of and without deduction for any and all Covered Taxes. If any Originator
shall be required by law to deduct any Covered Taxes from or in respect of any
sum payable hereunder to Buyer (or any of its assigns), (a) the sum payable
shall be increased as necessary so that after making all required deductions
(including deductions applicable to additional sums payable under this Section
6.3), Buyer (or such assign, as the case may be) receives an amount equal to the
sum it would have received had no such deductions been made,

                                       22
<PAGE>   28

(b) such Originator shall make such deductions, (c) such Originator shall pay
the full amount deducted to the relevant authority in accordance with applicable
law, and (d) such Originator shall furnish to Buyer (or, at any time while the
Loan Agreement remains in effect, to Administrator) the original copy of a
receipt evidencing payment thereof within 30 days after such payment is made.

                                  ARTICLE VII
                        JOINDER OF ADDITIONAL ORIGINATORS

         Section 7.1       Addition of New Originators. From time to time upon
not less than 60 days' prior written notice to Buyer and its assigns (or such
shorter period of time as Buyer and its assigns may agree upon), Buyer may agree
that one or more of ChoicePoint Inc.'s existing or hereafter acquired
wholly-owned Subsidiaries become an Originator hereunder. No such addition shall
become effective (a) without the written consent of Buyer and Borrower and, if
the proposed New Originator is a Material Originator and the Loan Agreement
remains in effect, without the written consent of Administrator, but may become
effective prior to such 60th day if such written consent is given more promptly
and (b) unless all conditions precedent to such addition required by Section 7.2
below are satisfied prior to such date.

         Section 7.2       Documentation. Prior to the effectiveness of any New
Originator's becoming an Originator hereunder, such New Originator shall execute
a Joinder Agreement in the form of Exhibit VII hereto (a "JOINDER AGREEMENT")
and shall deliver each of the documents listed on Schedule A hereto which is
required to be delivered by each Originator, together with such updated Exhibits
hereto as may be necessary to ensure that after giving effect to the addition of
such New Originator, each of the representations and warranties of such New
Originator under Article II hereof will be true and correct.

                                  ARTICLE VIII
                                  MISCELLANEOUS

         Section 8.1       Waivers and Amendments.

                  (a)      No failure or delay on the part of Buyer (or its
         assigns) in exercising any power, right or remedy under this Agreement
         shall operate as a waiver thereof, nor shall any single or partial
         exercise of any such power, right or remedy preclude any other further
         exercise thereof or the exercise of any other power, right or remedy.
         The rights and remedies herein provided shall be cumulative and
         nonexclusive of any rights or remedies provided by law. Any waiver of
         this Agreement shall be effective only in the specific instance and for
         the specific purpose for which given.

                  (b)      No provision of this Agreement may be amended,
         supplemented, modified or waived except in writing signed by each of
         the Originators and Buyer

                                       23
<PAGE>   29

         and, for so long as the Loan Agreement remains in effect to the extent
         required thereunder, by Administrator. At any time while the Loan
         Agreement remains in effect, any material amendment, supplement,
         modification or waiver will require Administrator's receipt of written
         notice from S&P and Moody's that such change will not cause the rating
         on the then outstanding commercial paper of Lender to be downgraded or
         withdrawn.

         Section 8.2       Notices. All communications and notices provided for
hereunder shall be in writing (including bank wire, telecopy or electronic
facsimile transmission or similar writing) and shall be given to the other
parties hereto at their respective addresses or telecopy numbers set forth on
Schedule B hereto or at such other address or telecopy number as such Person may
hereafter specify for the purpose of notice to each of the other parties hereto.
Each such notice or other communication shall be effective (a) if given by
telecopy, upon the receipt thereof, (b) if given by mail, five (5) Business Days
after the time such communication is deposited in the mail with first class
postage prepaid or (c) if given by any other means, when received at the address
specified in this Section 8.2.

         Section 8.3       Protection of Ownership Interests of Buyer.

                  (a)      Each of the Originators agrees that from time to
time, at its expense, it will promptly execute and deliver all instruments and
documents, and take all actions, that may be necessary or desirable, or that
Buyer (or its assigns) may reasonably request, to perfect, protect or more fully
evidence the interest of Buyer and its assigns therein, or to enable Buyer (or
its assigns) to exercise and enforce their rights and remedies hereunder. At any
time following the earlier to occur of a Termination Event or an Amortization
Event: Buyer (or its assigns) may, at each Originator's sole cost and expense,
direct such Originator to notify the Obligors of Receivables originated by such
Originator of the ownership interests of Buyer under this Agreement and may also
direct that payments of all amounts due or that become due under any or all such
Receivables be made directly to Buyer or its designee.

                  (b)      If any Originator fails to perform any of its
obligations hereunder:

                           (i)      with not less than ten (10) days' prior
         written notice (or, if such 10-days would have the effect of extending
         the cure period, if any, applicable to any Originator's nonperformance,
         such shorter period of prior written notice as would not cause such an
         extension), Buyer (or its assigns) may (but shall not be required to)
         perform, or cause performance of, such obligations, and Buyer's (or
         such assigns') costs and expenses incurred in connection therewith
         shall be payable by such Originator as provided in Section 6.2;

                           (ii)     such Originator irrevocably authorizes Buyer
         (and its assigns) at any time and from time to time in the sole
         discretion of Buyer (or its assigns), and appoints Buyer (and its
         assigns) as its attorney(ies)-in-fact, to act on behalf of such
         Originator (A) to execute on behalf of such Originator as debtor (if
         the debtor's signature is required) and to

                                       24
<PAGE>   30

         file financing statements (with or without such Originator's signature,
         as debtor, as permitted by applicable law) which are necessary or
         desirable in Buyer's (or its assigns') sole discretion to perfect and
         to maintain the perfection and priority of the interest of Buyer in the
         Receivables and the associated Related Security (except for Excluded
         Items) and Collections and (B) to file a carbon, photographic or other
         reproduction of this Agreement or any financing statement with respect
         to the Receivables as a financing statement in such offices as Buyer
         (or its assigns) in their sole discretion deem necessary or desirable
         to perfect and to maintain the perfection and priority of Buyer's
         interests in such Receivables.

The appointment under the foregoing clause (ii) is coupled with an interest and
is irrevocable.

         Section 8.4       Confidentiality.

                  (a)      Each Originator shall maintain and shall cause each
of its employees and officers to maintain the confidentiality of the Fee Letter
and the other confidential or proprietary information with respect to
Administrator and Lender and their respective businesses obtained by it or them
in connection with the structuring, negotiating and execution of the
transactions contemplated herein, except that each Originator and its officers
and employees may disclose such information to such Originator's external
accountants, attorneys and other advisors and as required by any applicable law,
rule, direction, request or order of any judicial, administrative or regulatory
authority or proceeding (whether or not having the force or effect of law). The
restrictions in this Section 8.4(a) shall not apply to any information which is
or becomes generally available to the public other than as a result of
disclosure by such Originator or one of its Affiliates.

                  (b)      Each Originator hereby consents to the disclosure of
any nonpublic information with respect to it (i) to Buyer, Borrower,
Administrator, the Liquidity Banks or Lender by each other, (ii) to any
prospective or actual assignee or participant of any of the Persons described in
clause (i), (iii) to any of Lender's rating agencies, commercial paper dealers
or Support Providers or to any entity organized for the purpose of purchasing,
or making loans secured by, financial assets for which Administrator acts as the
administrative agent or administrator and to any officers, directors, employees,
outside accountants and attorneys of any of the foregoing, PROVIDED each Person
described in the foregoing clauses (ii) and (iii) is informed of the
confidential nature of such information, and (iv) as required pursuant to any
law, rule, regulation, direction, request or order of any judicial,
administrative or regulatory authority or proceedings (whether or not having the
force or effect of law).

         Section 8.5       Bankruptcy Petition. Each Originator hereby covenants
and agrees that, prior to the date that is one year and one day after the
payment in full of all outstanding senior indebtedness of Lender, it will not
institute against, or join any other Person in instituting against, Lender any
bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings
or other similar proceeding under the laws of the United States or any state of
the United States. Each Originator hereby covenants and agrees that, prior to
the date that is one

                                       25
<PAGE>   31

year and one day after the payment in full of all outstanding senior
indebtedness of Buyer, it will not institute against, or join any other Person
in instituting against, Buyer any bankruptcy, reorganization, arrangement,
insolvency or liquidation proceedings or other similar proceeding under the laws
of the United States or any state of the United States

         Section 8.6       CHOICE OF LAW. THIS AGREEMENT SHALL BE A CONTRACT
MADE UNDER AND GOVERNED BY THE INTERNAL LAWS OF THE STATE OF NEW YORK WITHOUT
REGARD TO THE CONFLICT OF LAW PRINCIPLES THEREOF (OTHER THAN SECTION 5-1401 OF
THE NEW YORK GENERAL OBLIGATIONS LAW) EXCEPT TO THE EXTENT THAT THE LAWS OF
ANOTHER JURISDICTION GOVERN THE PERFECTION, OR THE EFFECT OF PERFECTION OR
NONPERFECTION, OF THE OWNERSHIP OR SECURITY INTERESTS OF BUYER.

         Section 8.7       CONSENT TO JURISDICTION. TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY
SUBMITS TO THE NON-EXCLUSIVE JURISDICTION OF ANY UNITED STATES FEDERAL OR NEW
YORK STATE COURT SITTING IN NEW YORK, NEW YORK IN ANY ACTION OR PROCEEDING
ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY DOCUMENT EXECUTED BY ANY
ORIGINATOR PURSUANT TO THIS AGREEMENT, AND EACH OF THE PARTIES HERETO HEREBY
IRREVOCABLY AGREES THAT ALL CLAIMS IN RESPECT OF SUCH ACTION OR PROCEEDING MAY
BE HEARD AND DETERMINED IN ANY SUCH COURT AND IRREVOCABLY WAIVES ANY OBJECTION
IT MAY NOW OR HEREAFTER HAVE AS TO THE VENUE OF ANY SUCH SUIT, ACTION OR
PROCEEDING BROUGHT IN SUCH A COURT OR THAT SUCH COURT IS AN INCONVENIENT FORUM.
NOTHING HEREIN SHALL LIMIT THE RIGHT OF BUYER (OR ITS ASSIGNS) TO BRING
PROCEEDINGS AGAINST ANY ORIGINATOR IN THE COURTS OF ANY OTHER JURISDICTION. ANY
JUDICIAL PROCEEDING BY ANY ORIGINATOR AGAINST BUYER (OR ITS ASSIGNS) OR ANY
AFFILIATE THEREOF INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER IN ANY WAY
ARISING OUT OF, RELATED TO, OR CONNECTED WITH THIS AGREEMENT OR ANY DOCUMENT
EXECUTED BY ANY ORIGINATOR PURSUANT TO THIS AGREEMENT SHALL BE BROUGHT ONLY IN A
COURT IN NEW YORK, NEW YORK.

         Section 8.8       WAIVER OF JURY TRIAL. TO THE FULLEST EXTENT PERMITTED
BY APPLICABLE LAW, EACH PARTY HERETO HEREBY WAIVES TRIAL BY JURY IN ANY JUDICIAL
PROCEEDING INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER (WHETHER SOUNDING IN
TORT, CONTRACT OR OTHERWISE) IN ANY WAY ARISING OUT OF, RELATED TO, OR CONNECTED
WITH THIS AGREEMENT, ANY DOCUMENT EXECUTED BY ANY ORIGINATOR

                                       26
<PAGE>   32

PURSUANT TO THIS AGREEMENT OR THE RELATIONSHIP ESTABLISHED HEREUNDER OR
THEREUNDER.

         Section 8.9       Integration; Binding Effect; Survival of Terms.

                  (a)      This Agreement and each other Transaction Document
contain the final and complete integration of all prior expressions by the
parties hereto with respect to the subject matter hereof and shall constitute
the entire agreement among the parties hereto with respect to the subject matter
hereof superseding all prior oral or written understandings.

                  (b)      This Agreement shall be binding upon and inure to the
benefit of each of the Originators, Buyer and their respective successors and
permitted assigns (including any trustee in bankruptcy). No Originator may
assign any of its rights and obligations hereunder or any interest herein
without the prior written consent of Buyer (and, while the Loan Agreement
remains in effect, Administrator). Buyer may assign at any time its rights and
obligations hereunder and interests herein to any other Person without the
consent of any Originator. Without limiting the foregoing, each Originator
acknowledges that Buyer, pursuant to the Receivables Sale Agreement, may assign
to Borrower all of Buyer's rights, remedies, powers and privileges hereunder and
that Borrower, pursuant to the Loan Agreement, may pledge to Administrator, for
the benefit of Lender and its assigns, its rights, remedies, powers and
privileges hereunder. Originator agrees that, at any time while the Loan
Agreement remains in effect, Administrator, as the pledgee of Borrower (as
Buyer's assignee), shall, subject to the terms of the Loan Agreement, have the
right to enforce this Agreement and to exercise directly all of Buyer's rights
and remedies under this Agreement (including, without limitation, the right to
give or withhold any consents or approvals of Buyer to be given or withheld
hereunder). 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 terminated in accordance with its terms;
PROVIDED, HOWEVER, that the rights and remedies with respect to (i) any breach
of any representation and warranty made by any Originator pursuant to Article
II; (ii) the indemnification and payment provisions of Article VI; and (iii)
Section 8.5 shall be continuing and shall survive any termination of this
Agreement.

                                       27
<PAGE>   33

         Section 8.10      Counterparts; Severability; Section References. This
Agreement may be executed in any number of counterparts and by different parties
hereto in separate counterparts, each of which when so executed shall be deemed
to be an original and all of which when taken together shall constitute one and
the same Agreement. Any provisions of this Agreement which are prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective
to the extent of such prohibition or unenforceability without invalidating the
remaining provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any
other jurisdiction. Unless otherwise expressly indicated, all references herein
to "Article," "Section," "Schedule" or "Exhibit" shall mean articles and
sections of, and schedules and exhibits to, this Agreement.

                            [signature pages follow]

                                       28
<PAGE>   34

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

                                       CHOICEPOINT SERVICES INC., PRC
                                       CORPORATION, CHOICEPOINT BUSINESS
                                       AND GOVERNMENT SERVICES INC.,
                                       CHOICEPOINT DIRECT INC., STATEWIDE
                                       DATA SERVICES, INC., I.R.S.C., INC.,
                                       CHOICEPOINT PUBLIC RECORDS INC.,
                                       PATLEX CORPORATION, NATIONAL SAFETY
                                       ALLIANCE INCORPORATED AND BTI
                                       EMPLOYEE SCREENING SERVICES INC.

                                       By: /s/ David E. Trine
                                          -------------------------------------
                                       Name: David E. Trine
                                       Title: Treasurer

                                       CHOICEPOINT CAPITAL INC.

                                       By: /s/ David E. Trine
                                          -------------------------------------
                                       Name: David E. Trine
                                       Title: Treasurer

                                       29
<PAGE>   35

                                    EXHIBIT I

                                   Definitions

                  This is Exhibit I to the Agreement (as hereinafter defined).
As used in the Agreement and the Exhibits and Schedules thereto, capitalized
terms have the meanings set forth in this Exhibit I (such meanings to be equally
applicable to the singular and plural forms thereof). IF A CAPITALIZED TERM IS
USED IN THE AGREEMENT AND IS NOT OTHERWISE DEFINED THEREIN OR IN THIS EXHIBIT I,
SUCH TERM SHALL HAVE THE MEANING ASSIGNED THERETO IN THE LOAN AGREEMENT
(HEREINAFTER DEFINED).

                  "ADMINISTRATOR" has the meaning set forth in the Preliminary
Statements to the Agreement.

                  "ADVERSE CLAIM" means any lien (statutory or other), mortgage,
pledge, hypothecation, assignment, encumbrance or preference, priority or other
security agreement or preferential arrangement of any kind or nature whatsoever
(including, without limitation, the interest of a vendor or lessor under any
conditional sale, capitalized lease or other title retention agreement).

                  "AFFILIATE" of any Person means any other Person that (i)
directly or indirectly controls, is controlled by or is under common control
with such Person or (ii) is an officer or director of such Person. A Person
shall be deemed to be "controlled by" another Person if such other Person
possesses, directly or indirectly, power (a) to vote 5% or more of the
securities (on a fully diluted basis) having ordinary voting power for the
election of directors or managing partners of such other Person, or (b) to
direct or cause the direction of the management and policies of such other
Person whether by contract or otherwise. The word "AFFILIATED" has a correlative
meaning.

                  "AGREEMENT" means the Receivables Sale and Contribution
Agreement, dated as of July 2, 2001, among Originators and Buyer, as the same
may be amended, restated or otherwise modified.

                  "APPLICABLE STATE" has the meaning set forth in Section 2.1(a)
of the Agreement

                  "BORROWER" has the meaning set forth in the Preliminary
Statements to the Agreement.

                  "BUSINESS DAY" means any day on which (a) SunTrust Bank is not
authorized or required to be closed for business in Atlanta, Georgia, and The
Depository Trust Company of New York is open for business, and (b) commercial
banks in New York City are not authorized or required to be closed.

                                       30
<PAGE>   36

                  "BUYER" has the meaning set forth in the preamble to the
Agreement.

                  "BUYER LOAN" has the meaning set forth in the Preliminary
Statements to the Agreement.

                  "BUYER'S NET WORTH" means as of the last Business Day of each
Calculation Period preceding any date of determination, the excess, if any, of
(a) the aggregate net book value of Buyer's assets determined in accordance with
GAAP, OVER (b) the sum of (i) the aggregate outstanding principal balance of all
actual liabilities of Buyer at such time determined in accordance with GAAP
(including, without limitation, all then outstanding Purchase Price Loans and
any Purchase Price Loan proposed to be made on the date of determination), PLUS
(ii) the aggregate principal amount of all known contingent liabilities of Buyer
at such time.

                  "CALCULATION PERIOD" means each calendar month or portion
thereof which elapses during the term of the Agreement. The first Calculation
Period shall commence on the Closing Date and the final Calculation Period shall
terminate on the latest Termination Date.

                  "CHANGE OF CONTROL" means (a) the acquisition by any Person,
or two or more Persons acting in concert, of beneficial ownership (within the
meaning of Rule 13d-3 of the Securities and Exchange Commission under the
Securities Exchange Act of 1934) of 20% or more of the outstanding shares of
voting stock of ChoicePoint Inc., (b) ChoicePoint Inc. ceases to own, directly
or indirectly, 100% of the outstanding voting securities of each of the
Originators, or (c) Parent Originator ceases to own , directly or indirectly,
100% of the outstanding voting securities of Buyer.

                  "CLOSING DATE" has the meaning provided in the Loan Agreement.

                  "COLLECTIONS" means, with respect to any Receivable, all cash
collections and other cash proceeds in respect of such Receivable, including,
without limitation, all yield, Finance Charges or other related amounts accruing
in respect thereof and all cash proceeds of Related Security with respect to
such Receivable.

                  "CONSOLIDATED SUBSIDIARY" means, at any date as of which the
same is to be determined, any Subsidiary or other entity the accounts of which
would be consolidated with those of ChoicePoint Inc. in its consolidated
financial statements if such statements were prepared as of such date in
accordance with GAAP.

                  "CONTRACT" means either (i) a written agreement between an
Originator and an Obligor, or (ii) an invoice issued by an Originator to an
Obligor, in either of the foregoing cases, pursuant to which such Obligor is
obligated to pay for goods, merchandise and/or services.

                  "COVERED TAXES" means all Taxes other than Excluded Taxes.

                                       31
<PAGE>   37

                  "CREDIT AND COLLECTION POLICY" means each Originator's credit
and collection policies and practices relating to Contracts and Receivables
existing on the date on which such Originator becomes a party hereto and
delivered to Buyer and Administrator prior to such date, as modified from time
to time with the consent of Buyer (and, if the Loan Agreement remains in effect,
Administrator). A summary of the Credit and Collection Policy of each Originator
party to this Agreement as of July 2, 2001 is contained in Exhibit IX to this
Agreement.

                  "DEBT" means, with respect to any Person at any date, without
duplication: (i) all indebtedness of such Person for borrowed money, (ii) all
indebtedness of such Person for the deferred purchase price of property or
services (other than property and services purchased, and expense accruals and
deferred compensation items arising, in the ordinary course of business), (iii)
all obligations of such Person evidenced by notes, bonds, debentures or other
similar instruments (other than performance, surety and appeal bonds arising in
the ordinary course of business), (iv) all indebtedness of such Person created
or arising under any conditional sale or other title retention agreement with
respect to property acquired by such Person (even though the rights and remedies
of the seller or lender under such agreement in the event of default are limited
to repossession or sale of such property), (v) all obligations of such Person
under leases which have been or should be, in accordance with GAAP, recorded as
capital leases, to the extent required to be so recorded, (vi) all
reimbursement, payment or similar obligations of such Person, contingent or
otherwise, under acceptance, letter of credit or similar facilities (other than
letters of credit in support of trade obligations or in connection with workers'
compensation, unemployment insurance, old-age pensions and other social security
benefits in the ordinary course of business), (vii) all net obligations of such
Person in respect of interest rate swap, cap, collar, swaption, option or
similar agreements, (viii) all obligations arising in connection with a sale or
other transfer of any of such Person's financial assets which are, or are
intended to be, classified as loans for federal tax purposes, (ix) all Debt
referred to in clauses (i) through (viii) above guaranteed directly or
indirectly by such Person, or in effect guaranteed directly or indirectly by
such Person through an agreement (A) to pay or purchase such Debt or to advance
or supply funds for the payment or purchase of such Debt, (B) to purchase, sell
or lease (as lessee or lessor) property, or to purchase or sell services,
primarily for the purpose of enabling the debtor to make payment of such Debt or
to assure the holder of such Debt against loss in respect of such Debt, (C) to
supply funds to or in any other manner invest in the debtor (including any
agreement to pay for property or services irrespective of whether such property
is received or such services are rendered) or (D) otherwise to assure a creditor
against loss in respect of such Debt, and (x) all Debt referred to in clauses
(i) through (viii) above secured by (or for which the holder of such Debt has an
existing right, contingent or otherwise, to be secured by) any Adverse Claim,
security interest or other charge or encumbrance upon or in property (including,
without limitation, accounts and contract rights) owned by such Person, even
though such Person has not assumed or become liable for the payment of such
Debt.

                                       32
<PAGE>   38

                  "DEFAULT FEE" means a per annum rate of interest equal to the
sum of (i) the Prime Rate (as defined in the First Step Note), PLUS (ii) 2.00%
per annum.

                  "DEFAULTED RECEIVABLE" means, as of any date of determination,
any Receivable (i) which the Servicer has or should have charged-off or deemed
uncollectible in accordance with the Credit and Collection Policy after taking a
reasonable time to apply Collections received to applicable invoices and
reconcile the amount of such Receivable, (ii) as to which, as of such date of
determination, any payment, or part thereof, remains unpaid for 91 days or more
past the due date for such payment, determined by reference to the original
contractual payment terms of such Receivable or (iii) as to which the Obligor
thereon has suffered an Event of Bankruptcy.

                  "DELINQUENT RECEIVABLE" means a Receivable (other than a
Defaulted Receivable) as to which all or any part of a scheduled payment remains
unpaid for 61 days or more from the original due date for such payment.

                  "DEPOSITORY ACCOUNT" means a deposit account (other than a
LockBox Account) into which Collections are deposited.

                  "DISCOUNT FACTOR" means a percentage calculated to provide the
applicable Transferee with a reasonable profit from its investment in the
Receivables after taking account of (i) the time value of money based upon the
anticipated dates of collection of such Receivables and the cost to such
Transferee of financing its investment in such Receivables during such period,
(ii) the risk of nonpayment by the Obligors, and (iii) in the case of Buyer, the
cost to Buyer of paying the Servicer to service and collect the Receivables and
Related Security on Buyer's behalf. Each Originator and Buyer may agree from
time to time to change the Discount Factor applicable to Future Receivables
originated by such Originator based on changes in one or more of the items
affecting the calculation thereof, PROVIDED THAT any change to the Discount
Factor shall take effect as of the commencement of a Calculation Period, shall
apply only prospectively and shall not affect the Purchase Price payment made
prior to the Calculation Period during which such Originator and Buyer agree to
make such change. As of the Closing Date, the Discount Factor in respect of the
Receivables originated by each of the Originators is 1.8%.

                  "DOLLARS," "DOLLARS" and "$" shall mean lawful money of the
United States of America.

                  "ELIGIBLE RECEIVABLE" means each Receivable that meets the
following criteria:

                  (a)      that was created by an Originator in compliance, in
         all material respects, with its Credit and Collection Policy, in the
         regular and ordinary course of the business of such Originator;

                                       33
<PAGE>   39

                  (b)      that was documented in all material respects in
         compliance with the applicable Originator's standard administration and
         documentation policies and procedures;

                  (c)      is not a Delinquent Receivable or a Defaulted
         Receivable;

                  (d)      as to which, at the time of the sale or contribution
         of such Receivable to Parent SPE, the applicable Originator was the
         sole owner thereof and had good and marketable title thereto, free and
         clear of all Adverse Claims, and which was sold or contributed to
         Parent SPE pursuant to the Agreement, free and clear of all Adverse
         Claims other than in favor of Borrower and Administrator;

                  (e)      the sale or assignment of which by an Originator to
         Parent SPE or by Parent SPE to Borrower does not contravene or conflict
         with any law, rule or regulation or any contractual or other
         restriction, limitation or encumbrance, and the sale or assignment of
         which does not require the consent of the Obligor thereof;

                  (f)      which is denominated and payable in Dollars and is
         only payable in the United States of America,

                  (g)      the Obligor of which is a resident of the United
         States;

                  (h)      the Obligor of which is not an officer, director or
         Affiliate of any Originator, Parent SPE or Purchaser;

                  (i)      the Obligor of which is not a Governmental Authority;

                  (j)      that is in full force and effect and constitutes the
         legally valid and binding payment obligation of the Obligor with
         respect thereto, enforceable against such Obligor in accordance with
         its terms and is not subject to any right of rescission, setoff,
         counterclaim or defense (including the defense of usury) or to any
         repurchase obligation or return right;

                  (k)      that does not contravene any applicable requirements
         of law (including without limitation all laws, rules and regulations
         relating to truth in lending, fair credit billing, fair credit
         reporting, fair debt collection practices and privacy) and which
         complies with all applicable requirements of law and with respect to
         which all consents, licenses, approvals or authorizations of, or
         registrations or declarations with, any Governmental Authority required
         to be obtained, effected or given by the related Originator in
         connection with the

                                       34
<PAGE>   40

         creation or the execution, delivery and performance of such Receivable,
         have been duly obtained, effected or given and are in full force and
         effect;

                  (l)      that complies with all applicable requirements of the
         applicable Credit and Collection Policy;

                  (m)      as to which each of Parent SPE's and Purchaser's
         ownership interest has been perfected under the applicable Uniform
         Commercial Code and other applicable laws;

                  (n)      as to which the Servicer is in possession of the
         related Receivable File;

                  (o)      which provides for repayment in full of the unpaid
         balance thereof upon receipt of invoice or in any event within thirty
         (30) days of the date of the creation thereof;

                  (p)      the terms of which have not been modified or waived
         except as permitted under the applicable Credit and Collection Policy
         and the Agreement;

                  (q)      which constitutes an "account" under and as defined
         in Article 9 of the Uniform Commercial Code of all applicable
         jurisdictions,

                  (r)      which is not subject to any dispute, right of
         rescission, set-off, counterclaim or any other defense (including
         defenses arising out of violations of usury laws) of the applicable
         Obligor against the applicable Originator or any other Adverse Claim,
         and the Obligor thereon holds no right as against the applicable
         Originator to cause the applicable Originator to repurchase the goods
         the sale of which shall have given rise to such Receivable (except with
         respect to sale discounts effected pursuant to the Contract, or goods
         returned in accordance with the terms of the Contract), and

                  (s)      the applicable Originator has satisfied and fully
         performed all obligations on its part with respect to such Receivable
         required to be fulfilled by it, and no further action is required to be
         performed by any Person with respect thereto other than payment thereon
         by the applicable Obligor.

                  "EVENT OF BANKRUPTCY" shall be deemed to have occurred with
respect to a Person if either:

                  (a) a case or other proceeding shall be commenced, without the
         application or consent of such Person, in any court, seeking the
         liquidation, reorganization, debt arrangement, dissolution, winding up,
         or composition or readjustment of debts of such Person, the appointment
         of a trustee, receiver, custodian, liquidator,

                                       35
<PAGE>   41

         assignee, sequestrator or the like for such Person or all or
         substantially all of its assets, or any similar action with respect to
         such Person under any law relating to bankruptcy, insolvency,
         reorganization, winding up or composition or adjustment of debts; or an
         order for relief in respect of such Person shall be entered in an
         involuntary case under the federal bankruptcy laws or other similar
         laws now or hereafter in effect; or

                  (b) such Person shall commence a voluntary case or other
         proceeding under any applicable bankruptcy, insolvency, reorganization,
         debt arrangement, dissolution or other similar law now or hereafter in
         effect, or shall consent to the appointment of or taking possession by
         a receiver, liquidator, assignee, trustee, custodian, sequestrator (or
         other similar official) for such Person or for any substantial part of
         its property, or shall make any general assignment for the benefit of
         creditors, or shall fail to, or admit in writing its inability to, pay
         its debts generally as they become due, or, if a corporation or similar
         entity, its board of directors shall vote to implement any of the
         foregoing.

                  "EXCLUDED ITEMS" means the interest of an Originator (or
Buyer, as its assignee) in Related Security which, by operation of law or
enforceable contractual restrictions, either (i) cannot be transferred by an
Originator to Buyer or (ii) cannot be subjected to an Adverse Claim which can be
perfected by filing a UCC financing statement in the state where such Originator
maintains its chief executive office or is organized.

                  "EXCLUDED TAXES" means, in the case of Buyer (or any other
Originator Indemnified Party), taxes imposed on its overall net income, and
franchise taxes and branch profit taxes based on net income imposed on it, by
(i) the jurisdiction under the laws of which Buyer (or such other Originator
Indemnified Party) is incorporated or organized or (ii) the jurisdiction in
which Buyer's (or such other Originator Indemnified Party's) principal executive
office is located.

                  "EXISTING RECEIVABLES" means Receivables in existence as of
the Initial Cutoff Date.

                  "FINANCE CHARGES" means, with respect to a Contract, any
finance, interest, late payment, returned check charges or similar charges owing
by an Obligor pursuant to such Contract.

                  "FINANCIAL OFFICER" means, with respect to any Person, such
Person's Chief Financial Officer, Treasurer, Corporate Controller or Assistant
Treasurer.

                                       36
<PAGE>   42

                  "FIRST STEP NOTE" means a promissory note in substantially the
form of Exhibit V hereto as more fully described in Section 1.3 of the
Agreement, as the same may be amended, restated, supplemented or otherwise
modified from time to time.

                  "FUTURE RECEIVABLES" means Receivables coming into existence
after the Initial Cutoff Date.

                  "GAAP" means accounting principles generally accepted in the
United States of America as recommended by the Financial Accounting Standards
Board as in effect as of the Closing Date applied consistently with the audited
financial statements of ChoicePoint Inc. and its Consolidated Subsidiaries for
the fiscal year ended December 31, 2000.

                  "GOVERNMENTAL AUTHORITY" means any nation or government, any
federal, state, local or other political subdivision thereof and any entity
exercising executive, legislative, judicial, regulatory or administrative
authority or functions of or pertaining to government including any authority or
other quasi-governmental entity established to perform any of such functions.

                  "INITIAL CONTRIBUTED RECEIVABLES" has the meaning set forth in
Section 1.1.

                  "INITIAL CUTOFF DATE" means the Business Day immediately prior
to the Closing Date.

                  "INITIAL FIRST STEP CONTRIBUTION" has the meaning set forth in
the Preliminary Statements to the Agreement.

                  "INITIAL PARENT SALE" has the meaning set forth in the
Preliminary Statements to the Agreement.

                  "IRS" means the Internal Revenue Service and any Person
succeeding to the functions thereof.

                  "JOINDER AGREEMENT" has the meaning set forth in Section 7.1
of the Agreement.

                  "LENDER" has the meaning set forth in the Preliminary
Statements to the Agreement.

                  "LOAN AGREEMENT" has the meaning set forth in the Preliminary
Statements to the Agreement.

                  "LOCKBOX" has the meaning provided in the Loan Agreement.

                  "LOCKBOX ACCOUNT" has the meaning provided in the Loan
Agreement.

                                       37
<PAGE>   43

                  "MATERIAL DEBT" means (a) Debt of any Originator and/or one or
more of its Subsidiaries (other than Buyer and any of Buyer's Subsidiaries),
arising in one or more related or unrelated transactions, in an aggregate
principal or face amount exceeding $5,000,000, or (b) Debt of Buyer and any of
Buyer's Subsidiaries, arising in one or more related or unrelated transactions,
in an aggregate principal or face amount exceeding $10,700.

                  "MATERIAL ORIGINATOR" means any proposed New Originator whose
Receivables represent more than 10% of the aggregate Unpaid Balance of all
Receivables immediately prior to the effectiveness of such Person's addition
hereto as an Originator.

                  "NEW ORIGINATOR" means any direct or indirect wholly-owned
Subsidiary of ChoicePoint that hereafter becomes an Originator under this
Agreement by executing a Joinder Agreement and complying with the provisions of
Article VII hereof.

                  "MOODY'S" means Moody's Investors Service, Inc.

                  "ORGANIZATIONAL DOCUMENTS" means, for any Person, the
documents for its formation and organization, which, for example, (a) for a
corporation are its corporate charter and bylaws, (b) for a partnership are its
certificate of partnership (if applicable) and partnership agreement, (c) for a
limited liability company are its certificate of formation or organization and
its operating agreement, regulations or the like and (d) for a trust is the
trust agreement, declaration of trust, indenture or bylaws under which it is
created.

                  "ORIGINAL BALANCE" means, with respect to any Receivable
coming into existence after the Initial Cutoff Date, the Outstanding Balance of
such Receivable on the date it was created.

                  "ORIGINATOR INDEMNIFIED AMOUNTS" has the meaning set forth in
Section 6.1.

                  "ORIGINATOR INDEMNIFIED PARTY" has the meaning set forth in
Section 6.1.

                  "ORIGINATOR MATERIAL ADVERSE EFFECT" means a material adverse
effect on (i) on the business, property, condition (financial or otherwise) or
results of operations of the Originators and their Subsidiaries taken as a
whole, (ii) the ability of any Originator to perform its obligations under the
Agreement or any other Transaction Document to which it is a party, (iii) the
legality, validity or enforceability of the Agreement or any other Transaction
Document, (iv) any Originator's, Buyer's, Borrower's, Administrator's or
Lender's interest in the Receivables generally or in any significant portion of
the Receivables, the Related Security or Collections with respect thereto, or
(v) the collectibility of the Receivables generally or of any material portion
of the Receivables.

                  "ORIGINATORS" has the meaning set forth in the preamble to the
Agreement.

                                       38
<PAGE>   44

                  "OUTSTANDING BALANCE" of any Receivable at any time means the
then outstanding principal balance thereof.

                  "PARENT ORIGINATOR" has the meaning set forth in the preamble
to the Agreement.

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

                  "PURCHASE" means (a) the Initial Parent Sale, or (b) each
purchase by Buyer from an Originator pursuant to Section 1.2 of the Agreement of
Receivables and the Related Security and Collections related thereto, together
with all related rights in connection therewith.

                  "PURCHASE DATE" has the meaning set forth in Section 1.2(a) of
the Agreement.

                  "PURCHASE PRICE" means:

                  (a)      with respect to the Initial Parent Sale, (i) the
product of (x) the Outstanding Balance of the Existing Subsidiary Receivables on
the Initial Cutoff Date, MULTIPLIED BY (y) one minus the Discount Factor in
effect on such date; and

                  (b)      with respect to each Purchase by Buyer from an
Originator, the aggregate price to be paid by Buyer to such Originator for such
Purchase in accordance with Section 1.3 of the Agreement for the Future
Receivables originated by such Originator and the associated Collections and
Related Security being sold to Buyer, which price shall equal on any date (i)
the product of (x) the Outstanding Balance of such Future Receivables on such
date, MULTIPLIED BY (y) one minus the Discount Factor in effect on such date,
minus (ii) any Purchase Price Credits to be credited in accordance with Section
1.4 of the Agreement against the Purchase Price otherwise payable.

                  "PURCHASE PRICE CREDIT" has the meaning set forth in Section
1.4 of the Agreement.

                  "PURCHASE PRICE LOAN" has the meaning set forth in Section
1.3(a) of the Agreement.

                  "PURCHASE REPORT" has the meaning set forth in Section 1.2(b)
of the Agreement.

                  "RECEIVABLE" means all indebtedness and other obligations owed
to an Originator at the times it arises, and before giving effect to any
transfer or conveyance under the Agreement or the Receivables Sale Agreement
(including, without limitation, any indebtedness, obligation or interest
constituting an account, chattel paper, instrument or general intangible)
arising in connection with the sale of goods or the rendering of services by an
Originator and further includes, without limitation, the applicable Obligor's
obligation to pay any Finance Charges or

                                       39
<PAGE>   45

freight charges and any other obligations of such Obligor with respect thereto.
Indebtedness and other rights and obligations arising from any one transaction,
including, without limitation, indebtedness and other rights and obligations
represented by an individual invoice, shall constitute a Receivable separate
from a Receivable consisting of the indebtedness and other rights and
obligations arising from any other transaction; PROVIDED, FURTHER, that any
indebtedness, rights or obligations referred to in the immediately preceding
sentence shall be a Receivable regardless or whether the account debtor or such
Originator or any of its Affiliates treats such indebtedness, rights or
obligations as a separate payment obligation.

                  "RECEIVABLES SALE AGREEMENT" has the meaning set forth in the
Preliminary Statements to the Agreement.

                  "RELATED SECURITY" means, with respect to any Receivable: (a)
all right, title and interest, but none of the obligations, of the applicable
Originator, in the goods (including returned goods), if any, relating to the
sale which gave rise to such Receivable, (b) all right, title and interest, but
none of the obligations, of such Originator, in, to and under other Adverse
Claims and property subject to Adverse Claims from time to time purporting to
secure payment of such Receivable, whether pursuant to the Contract related to
such Receivable or otherwise, (c) all UCC financing statements or similar
instruments covering any collateral securing payment of such Receivable, (d) all
guaranties, indemnities, insurance and other agreements (including the related
Receivable File) or arrangement and other collateral of whatever character from
time to time supporting or securing payment of such Receivable, whether pursuant
to the Contract relating to such Receivable or otherwise relating to such
Receivable, (e) all right, title and interest, if any, of such Originator in any
LockBox, any LockBox Account or any Depositary Account, and (f) all other
instruments and all rights under the documents in the Receivables File relating
to such Receivables and all rights (but not obligations) relating to such
Receivables.

                  "REPORTING DATE" means the second Business Day after the 15th
of each month hereafter.

                  "REQUIRED CAPITAL AMOUNT" means (a) as of any date of
determination while the Loan Agreement remains in effect, an amount equal to the
greater of (i) the product of (A) 1.5 times the product of the Default Ratio (as
defined in the Loan Agreement) times the Loss Horizon Ratio (as defined in the
Loan Agreement) times (B) the Outstanding Balance of all Receivables as of such
date, each as determined from the most recent Monthly Report delivered to
Administrator, and (ii) the amount necessary to ensure that Buyer remains
Solvent, and (b) at all other times, the amount determined pursuant to the
preceding clause (a)(ii).

                  "S&P" means Standard and Poor's Ratings Services, a division
of The McGraw Hill Companies, Inc.

                  "SEC FILINGS" means ChoicePoint Inc.'s annual and quarterly
reports on Forms 10-K and 10-Q as filed with the U.S. Securities and Exchange
Commission for the fiscal year

                                       40
<PAGE>   46

ended December 31, 1999 and the fiscal quarters ended March 31, 2000, June 30,
2000 and September 30, 2000, respectively.

                  "SERVICER" means ChoicePoint Inc., a Georgia corporation, or
any other Person who from time to time is designated by Buyer or any of its
assigns to service the Receivables. At any time while the Loan Agreement remains
in effect, such designation shall be made by Administrator.

                  "SETTLEMENT DATE" means the 20th day of each month hereafter
(or, if any such date is not a Business Day, the next succeeding Business Day).

                  "SOLVENT" means with respect to any Person that as of the date
of determination both (A)(i) the then fair saleable value of the property of
such Person is (y) greater than the total amount of liabilities (including
contingent liabilities) of such Person and (z) not less than the amount that
will be required to pay the probable liabilities on such Person's then existing
debts as they become absolute and matured considering all financing alternatives
and potential asset sales reasonably available to such Person; (ii) such
Person's capital is not unreasonably small in relation to its business or any
contemplated or undertaken transaction; and (iii) such Person does not intend to
incur, or believe (nor should it reasonably believe) that it will incur, debts
beyond its ability to pay such debts as they become due; and (B) such Person is
"solvent" within the meaning given that term and similar terms under applicable
laws relating to fraudulent transfers and conveyances. For purposes of this
definition, the amount of any contingent liability at any time shall be computed
as the amount that, in light of all of the facts and circumstances existing at
such time, represents the amount that can reasonably be expected to become an
actual or matured liability.

                  "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.

                  "SUBSIDIARY EXISTING RECEIVABLES" has the meaning set forth in
the Preliminary Statements to the Agreement.

                  "SUBSIDIARY ORIGINATOR(S)" has the meaning set forth in the
preamble to the Agreement.

                  "TAXES" means any and all present or future taxes, duties,
levies, imposts, deductions, charges or withholdings, and any and all
liabilities (including but not limited to interest and penalties) with respect
to the foregoing, imposed by any Governmental Authority.

                  "TERMINATION DATE" means, as to each Originator, the earliest
to occur of (i) the Termination Date (as defined in the Receivables Sale
Agreement), (ii) at any time while the Loan Agreement remains in effect, the
Commitment Termination Date (as defined in the Loan

                                       41
<PAGE>   47

Agreement), (iii) the Business Day immediately prior to the occurrence of a
Termination Event set forth in Section 5.1(f) with respect to such Originator,
(iv) the Business Day specified in a written notice from Buyer to such
Originator following the occurrence of any other Termination Event with respect
to such Originator, and (v) the date which is ten (10) Business Days after
Buyer's receipt of written notice from such Originator that it wishes to
terminate the facility evidenced by this Agreement.

                  "TERMINATION EVENT" has the meaning set forth in Section 5.1
of this Agreement.

                  "TRANSACTION DOCUMENTS" means, collectively, this Agreement,
the First Step Note, each Joinder Agreement (if any), and all other instruments,
documents and agreements executed and delivered by any Originator or Buyer in
connection herewith.

                  "TRANSFEREE" means (a) with respect to the Subsidiary Existing
Receivables, Parent Originator, (b) with respect to all Existing Receivables
(including the Subsidiary Existing Receivables) sold or contributed by Parent
Originator, Buyer, and (c) with respect to all Future Receivables, Buyer.

                  "UNMATURED TERMINATION EVENT" means an event which, with the
passage of time or the giving of notice, or both, would constitute a Termination
Event.

                  ALL ACCOUNTING TERMS NOT SPECIFICALLY DEFINED HEREIN SHALL BE
CONSTRUED IN ACCORDANCE WITH GAAP. ALL TERMS USED IN ARTICLE 9 OF THE UCC IN THE
STATE OF NEW YORK, AND NOT SPECIFICALLY DEFINED HEREIN, ARE USED HEREIN AS
DEFINED IN SUCH ARTICLE 9.

                                       42

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