Document:

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                           REVOLVING CREDIT AGREEMENT
                                   (2002-1G-2)

                           DATED AS OF MARCH 25, 2002

                                     BETWEEN

                            WILMINGTON TRUST COMPANY,

                             AS SUBORDINATION AGENT,
                          AS AGENT AND TRUSTEE FOR THE
                CONTINENTAL AIRLINES PASS THROUGH TRUST 2002-1G-2

                                   AS BORROWER

                                       AND

                    LANDESBANK HESSEN-THURINGEN GIROZENTRALE

                          AS PRIMARY LIQUIDITY PROVIDER

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                                   RELATING TO

                CONTINENTAL AIRLINES PASS THROUGH TRUST 2002-1G-2
             6.563% CONTINENTAL AIRLINES PASS THROUGH CERTIFICATES,
                                SERIES 2002-1G-2

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                                TABLE OF CONTENTS

                                                                           PAGE
                                                                           ----

ARTICLE I  DEFINITIONS.........................................................1
  Section 1.01.  Certain Defined Terms.........................................1

ARTICLE II  AMOUNT AND TERMS OF THE COMMITMENT.................................8
  Section 2.01. The Advances...................................................8
  Section 2.02. Making the Advances............................................8
  Section 2.03. Fees..........................................................10
  Section 2.04. Reductions or Termination of the Maximum Commitment...........10
  Section 2.05. Repayments of Interest Advances or the Final Advance..........10
  Section 2.06. Repayments of Provider Advances...............................11
  Section 2.07. Payments to the Primary Liquidity Provider Under the
                Intercreditor Agreement.......................................12
  Section 2.08. Book Entries..................................................12
  Section 2.09. Payments from Available Funds Only............................12
  Section 2.10. Extension of the Expiry Date; Non-Extension Advance...........12
  Section 2.11. Right to Further Extend Expiry Date...........................13

ARTICLE III  OBLIGATIONS OF THE BORROWER......................................13
  Section 3.01. Increased Costs...............................................13
  Section 3.02. Capital Adequacy..............................................14
  Section 3.03. Payments Free of Deductions...................................15
  Section 3.04. Payments......................................................16
  Section 3.05. Computations..................................................16
  Section 3.06. Payment on Non-Business Days..................................16
  Section 3.07. Interest......................................................17
  Section 3.08. Replacement of Borrower.......................................18
  Section 3.09. Funding Loss Indemnification..................................18
  Section 3.10. Illegality....................................................18

ARTICLE IV  CONDITIONS PRECEDENT..............................................19
  Section 4.01. Conditions Precedent to Effectiveness of Section 2.01.........19
  Section 4.02. Conditions Precedent to Borrowing.............................21

ARTICLE V  COVENANTS..........................................................21
  Section 5.01. Affirmative Covenants of the Borrower.........................21
  Section 5.02. Negative Covenants of the Borrower............................22

ARTICLE VI  LIQUIDITY EVENTS OF DEFAULT.......................................22
  Section 6.01. Liquidity Events of Default...................................22

ARTICLE VII  MISCELLANEOUS....................................................22
  Section 7.01. Amendments, Etc...............................................22

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                                                                           PAGE
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  Section 7.02. Notices, Etc..................................................23
  Section 7.03. No Waiver; Remedies...........................................23
  Section 7.04. Further Assurances............................................24
  Section 7.05. Indemnification; Survival of Certain Provisions...............24
  Section 7.06. Liability of the Primary Liquidity Provider...................24
  Section 7.07. Costs, Expenses and Taxes.....................................25
  Section 7.08. Binding Effect; Participations................................25
  Section 7.09. Third Party Beneficiary.......................................27
  Section 7.10. Severability..................................................27
  Section 7.11. GOVERNING LAW.................................................27
  Section 7.12. Submission to Jurisdiction; Waiver of Jury Trial;
                Waiver of Immunity............................................27
  Section 7.13. Execution in Counterparts.....................................28
  Section 7.14. Entirety......................................................28
  Section 7.15. Headings......................................................28
  Section 7.16. Transfer......................................................28
  Section 7.17. PRIMARY LIQUIDITY PROVIDER'S OBLIGATION TO MAKE ADVANCES......28

ANNEX I           Interest Advance Notice of Borrowing

ANNEX II          Non-Extension Advance Notice of Borrowing

ANNEX III         Downgrade Advance Notice of Borrowing

ANNEX IV          Final Advance Notice of Borrowing

ANNEX V           Notice of Termination

ANNEX VI          Notice of Replacement Subordination Agent

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                     REVOLVING CREDIT AGREEMENT (2002-1G-2)

            This REVOLVING CREDIT AGREEMENT (2002-1G-2) dated as of March 25,
2002, between WILMINGTON TRUST COMPANY, a Delaware corporation, not in its
individual capacity but solely as Subordination Agent under the Intercreditor
Agreement (each as defined below), as agent and trustee for the Class G-2 Trust
(as defined below) (the "BORROWER"), and LANDESBANK HESSEN-THURINGEN
GIROZENTRALE, a public-law banking institution organized under the laws of
Germany (the "PRIMARY LIQUIDITY PROVIDER").

                              W I T N E S S E T H:
                              - - - - - - - - - -

            WHEREAS, pursuant to the Class G-2 Trust Agreement (such term and
all other capitalized terms used in these recitals having the meanings set forth
or referred to in Section 1.01), the Class G-2 Trust is issuing the Class G-2
Certificates; and

            WHEREAS, the Borrower, in order to support the timely payment of a
portion of the interest on the Class G-2 Certificates in accordance with their
terms, has requested the Primary Liquidity Provider to enter into this
Agreement, providing in part for the Borrower to request in specified
circumstances that Advances be made hereunder.

            NOW, THEREFORE, in consideration of the premises, the parties hereto
agree as follows:

                                    ARTICLE I

                                   DEFINITIONS

            Section 1.01. Certain Defined Terms. (a) DEFINITIONS. As used in
this Agreement and unless otherwise expressly indicated, or unless the context
clearly requires otherwise, the following capitalized terms shall have the
following respective meanings for all purposes of this Agreement:

            "ADDITIONAL COST" has the meaning assigned to such term in Section
      3.01.

            "ADVANCE" means an Interest Advance, a Final Advance, a Provider
      Advance or an Applied Provider Advance, as the case may be.

            "APPLICABLE LIQUIDITY RATE" has the meaning assigned to such term in
      Section 3.07(g).

            "APPLICABLE MARGIN" means (x) with respect to any Unpaid Advance or
      Applied Provider Advance, 1.50% per annum, or (y) with respect to any
      Unapplied Provider Advance, the rate per annum specified in the Fee
      Letter.

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            "APPLIED DOWNGRADE ADVANCE" has the meaning assigned to such term in
      Section 2.06(a).

            "APPLIED NON-EXTENSION ADVANCE" has the meaning assigned to such
      term in Section 2.06(a).

            "APPLIED PROVIDER ADVANCE" has the meaning assigned to such term in
      Section 2.06(a).

            "ASSIGNMENT AND ASSUMPTION AGREEMENT" means the Assignment and
      Assumption Agreement to be entered into between the Borrower and the
      trustee of the Successor Trust, substantially in the form of Exhibit C to
      the Trust Supplement No. 2002-1G-2-O, dated as of the date hereof,
      relating to the Class G-2 Trust.

            "BASE RATE" means a fluctuating interest rate per annum in effect
      from time to time, which rate per annum shall at all times be equal to (a)
      the weighted average of the rates on overnight Federal funds transactions
      with members of the Federal Reserve System arranged by Federal funds
      brokers, as published for such day (or, if such day is not a Business Day,
      for the next preceding Business Day) by the Federal Reserve Bank of New
      York, or if such rate is not so published for any day that is a Business
      Day, the average of the quotations for such day for such transactions
      received by the Primary Liquidity Provider from three Federal funds
      brokers of recognized standing selected by it, plus (b) one-quarter of one
      percent (1/4 of 1%).

            "BASE RATE ADVANCE" means an Advance that bears interest at a rate
      based upon the Base Rate.

            "BORROWER" has the meaning assigned to such term in the recital of
      parties to this Agreement.

            "BORROWING" means the making of Advances requested by delivery of a
      Notice of Borrowing.

            "BUSINESS DAY" means any day other than a Saturday or Sunday or a
      day on which commercial banks are required or authorized to close in
      Houston, Texas, New York, New York or, so long as any Class G-2
      Certificate is outstanding, the city and state in which the Class G-2
      Trustee, the Borrower or any Loan Trustee maintains its Corporate Trust
      Office or receives or disburses funds, and, if the applicable Business Day
      relates to any Advance or other amount bearing interest based on the LIBOR
      Rate, on which dealings are carried on in the London interbank market.

            "CONSENT PERIOD" has the meaning specified in Section 2.10.

            "DEPOSIT AGREEMENT" means the Deposit Agreement dated as of the date
      hereof between Wells Fargo Bank Northwest, National Association, as Escrow
      Agent, and Credit Suisse First Boston, New York Branch, as Depositary,
      pertaining to the Class G-2 Certificates, as the same may be amended,
      modified or supplemented from time to time in accordance with the terms
      thereof.

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            "DEPOSITARY" has the meaning assigned to such term in the Deposit
      Agreement.

            "DEPOSITS" has the meaning assigned to such term in the Deposit
      Agreement.

            "DOWNGRADE ADVANCE" means an Advance made pursuant to Section
      2.02(c).

            "DOWNGRADE EVENT" means a downgrading of the Primary Liquidity
      Provider's short-term unsecured debt rating or issuer credit rating (as
      applicable) issued by either Rating Agency below the applicable Threshold
      Rating unless each Rating Agency shall have confirmed in writing on or
      prior to the date of such downgrading that such downgrading will not
      result in the downgrading, withdrawal or suspension of the ratings of the
      Class G-2 Certificates (without regard to the Policies), in which case,
      such downgrading of the Primary Liquidity Provider's short-term unsecured
      debt rating or issuer credit rating (as applicable) shall not constitute a
      Downgrade Event and shall be referred to herein as a "HELABA DOWNGRADE".

            "EFFECTIVE DATE" has the meaning specified in Section 4.01. The
      delivery of the certificate of the Primary Liquidity Provider contemplated
      by Section 4.01(e) shall be conclusive evidence that the Effective Date
      has occurred.

            "EXCLUDED TAXES" means (i) taxes imposed on the overall net income
      of the Primary Liquidity Provider or of its Facility Office by the
      jurisdiction where such Primary Liquidity Provider's principal office or
      such Facility Office is located, and (ii) Excluded Withholding Taxes.

            "EXCLUDED WITHHOLDING TAXES" means (i) withholding Taxes imposed by
      the United States except to the extent that such United States withholding
      Taxes are imposed or increased as a result of any change in applicable law
      (excluding from change in applicable law for this purpose a change in an
      applicable treaty or other change in law affecting the applicability of a
      treaty) after the date hereof, or in the case of a successor Primary
      Liquidity Provider (including a transferee of an Advance) or Facility
      Office, after the date on which such successor Primary Liquidity Provider
      obtains its interest or on which the Facility Office is changed, and (ii)
      any withholding Taxes imposed by the United States which are imposed or
      increased as a result of the Primary Liquidity Provider failing to deliver
      to the Borrower any certificate or document (which certificate or document
      in the good faith judgment of the Primary Liquidity Provider it is legally
      entitled to provide) which is reasonably requested by the Borrower to
      establish that payments under this Agreement are exempt from (or entitled
      to a reduced rate of) withholding Tax.

            "EXPENSES" means liabilities, obligations, damages, settlements,
      penalties, claims, actions, suits, costs, expenses, and disbursements
      (including, without limitation, reasonable fees and disbursements of legal
      counsel and costs of investigation), provided that Expenses shall not
      include any Taxes.

            "EXPIRY DATE" means March 23, 2003, initially, or any date to which
      the Expiry Date is extended pursuant to Section 2.10 or 2.11.

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            "EXTENSION EFFECTIVE DATE" has the meaning assigned to such term in
      Section 2.11.

            "FACILITY OFFICE" means the office of the Primary Liquidity Provider
      presently located at Frankfurt, Germany, or such other office as the
      Primary Liquidity Provider from time to time shall notify the Borrower as
      its Facility Office hereunder; provided that the Primary Liquidity
      Provider shall not change its Facility Office to another Facility Office
      outside the United States of America except in accordance with Section
      3.01, 3.02 or 3.03 hereof.

            "FINAL ADVANCE" means an Advance made pursuant to Section 2.02(d).

            "GAAP" means generally accepted accounting principles as set forth
      in the statements of financial accounting standards issued by the
      Financial Accounting Standards Board of the American Institute of
      Certified Public Accountants, as such principles may at any time or from
      time to time be varied by any applicable financial accounting rules or
      regulations issued by the Securities and Exchange Commission and, with
      respect to any person, shall mean such principles applied on a basis
      consistent with prior periods except as may be disclosed in such person's
      financial statements.

            "HELABA DOWNGRADE" has the meaning assigned to such term in the
      definition of "Downgrade Event".

            "INTERCREDITOR AGREEMENT" means the Intercreditor Agreement dated as
      of the date hereof among the Trustees, the Primary Liquidity Provider, the
      liquidity provider under the other Primary Liquidity Facility, the Class
      G-1 Above-Cap Liquidity Provider, the Policy Provider and the
      Subordination Agent, as the same may be amended, supplemented or otherwise
      modified from time to time in accordance with its terms.

            "INTEREST ADVANCE" means an Advance made pursuant to Section
      2.02(a).

            "INTEREST PERIOD" means, with respect to any LIBOR Advance, each of
      the following periods:

            (i)   the period beginning on the third Business Day following
                  either (x) the Primary Liquidity Provider's receipt of the
                  Notice of Borrowing for such LIBOR Advance or (y) the
                  withdrawal of funds from the Class G-2 Cash Collateral Account
                  for the purpose of paying interest on the Class G-2
                  Certificates as contemplated by Section 2.06(a) hereof and, in
                  either case, ending on the next Regular Distribution Date; and

            (ii)  each subsequent period commencing on the last day of the
                  immediately preceding Interest Period and ending on the next
                  Regular Distribution Date;

      PROVIDED, HOWEVER, that if (x) the Final Advance shall have been made, or
      (y) other outstanding Advances shall have been converted into the Final
      Advance, then the Interest Periods shall be successive periods of one
      month beginning on the third Business Day following the Primary Liquidity

<PAGE>

      Provider's receipt of the Notice of Borrowing for such Final Advance (in
      the case of clause (x) above) or the Regular Distribution Date following
      such conversion (in the case of clause (y) above).

            "LIBOR ADVANCE" means an Advance bearing interest at a rate based
      upon the LIBOR Rate.

            "LIBOR RATE" means, with respect to any Interest Period, ----------

            (i)   the rate per annum appearing on display page 3750 (British
                  Bankers Association-LIBOR) of the Dow Jones Markets Service
                  (or any successor or substitute therefor) at approximately
                  11:00 A.M. (London time) two Business Days before the first
                  day of such Interest Period, as the rate for dollar deposits
                  with a maturity comparable to such Interest Period, or

            (ii)  if the rate calculated pursuant to clause (i) above is not
                  available, the average (rounded upwards, if necessary, to the
                  next 1/16 of 1%) of the rates per annum at which deposits in
                  dollars are offered for the relevant Interest Period by three
                  banks of recognized standing selected by the Primary Liquidity
                  Provider in the London interbank market at approximately 11:00
                  A.M. (London time) two Business Days before the first day of
                  such Interest Period in an amount approximately equal to the
                  principal amount of the LIBOR Advance to which such Interest
                  Period is to apply and for a period comparable to such
                  Interest Period.

            "LIQUIDITY EVENT OF DEFAULT" means the occurrence of either (a) the
      Acceleration of all of the Equipment Notes (PROVIDED that, with respect to
      the period prior to the Delivery Period Expiry Date, such Equipment Notes
      have an aggregate outstanding principal balance in excess of $140,000,000)
      or (b) a Continental Bankruptcy Event.

            "LIQUIDITY INDEMNITEE" means (i) the Primary Liquidity Provider,
      (ii) the directors, officers, employees and agents of the Primary
      Liquidity Provider, and (iii) the successors and permitted assigns of the
      persons described in clauses (i) and (ii), inclusive.

            "MAXIMUM AVAILABLE COMMITMENT" shall mean, subject to the proviso
      contained in the third sentence of Section 2.02(a), at any time of
      determination, (a) the Maximum Commitment at such time LESS (b) the
      aggregate amount of each Interest Advance outstanding at such time;
      PROVIDED that following a Provider Advance or a Final Advance, the Maximum
      Available Commitment shall be zero.

            "MAXIMUM COMMITMENT" means initially $19,149,718.29 as the same may
      be reduced from time to time in accordance with Section 2.04(a).

            "NON-EXCLUDED TAX" has the meaning specified in Section 3.03.

            "NON-EXTENSION ADVANCE" means an Advance made pursuant to Section
      2.02(b).

            "NOTICE OF BORROWING" has the meaning specified in Section 2.02(e).

<PAGE>

            "NOTICE OF REPLACEMENT SUBORDINATION AGENT" has the meaning
      specified in Section 3.08.

            "PERFORMING NOTE DEFICIENCY" means any time that less than 65% of
      the then aggregate outstanding principal amount of all Equipment Notes
      (other than any "Series J Equipment Notes" under and as defined in any
      Indenture) are Performing Equipment Notes.

            "PRIMARY LIQUIDITY PROVIDER" has the meaning assigned to such term
      in the recital of parties to this Agreement.

            "PROSPECTUS SUPPLEMENT" means the final Prospectus Supplement dated
      March 11, 2002 relating to the Class G-1 Certificates and the Class G-2
      Certificates, as such Prospectus Supplement may be amended or
      supplemented.

            "PROVIDER ADVANCE" means a Downgrade Advance or a Non-Extension
      Advance.

            "REGULATORY CHANGE" has the meaning assigned to such term in Section
      3.01.

            "REPLENISHMENT AMOUNT" has the meaning assigned to such term in
      Section 2.06(b).

            "REQUIRED AMOUNT" means, for any day, the sum of the aggregate
      amount of interest, calculated at the rate per annum equal to the Stated
      Interest Rate for the Class G-2 Certificates, that would be payable on the
      Class G-2 Certificates on each of the six successive quarterly Regular
      Distribution Dates immediately following such day or, if such day is a
      Regular Distribution Date, on such day and the succeeding five quarterly
      Regular Distribution Dates, in each case calculated on the basis of the
      Pool Balance of the Class G-2 Certificates on such day and without regard
      to expected future payments of principal on the Class G-2 Certificates.
      Notwithstanding the above, in the event of any Policy Provider Election,
      for purposes of the definition of the Required Amount the Pool Balance
      shall be deemed to be reduced by the amount by which (a) the then
      outstanding principal balance of each Series G-2 Equipment Note in respect
      of which such Policy Provider Election has been made shall exceed (b) the
      amount of any Policy Drawings previously paid by the Policy Provider in
      respect of principal on such Series G-2 Equipment Note.

            "SUCCESSOR TRUST" means Continental Airlines Pass Through Trust
      2002-1G-2-S.

            "TAX LETTER" means the letter dated the date hereof between the
      Liquidity Provider and Continental pertaining to this Agreement.

            "TERMINATION DATE" means the earliest to occur of the following: (i)
      the Expiry Date; (ii) the date on which the Borrower delivers to the
      Primary Liquidity Provider a certificate, signed by a Responsible Officer
      of the Borrower, certifying that all of the Class G-2 Certificates have
      been paid in full (or provision has been made for such payment in
      accordance with the Intercreditor Agreement and the Trust Agreements) or
      are otherwise no longer entitled to the benefits of this Agreement; (iii)

<PAGE>

      the date on which the Borrower delivers to the Primary Liquidity Provider
      a certificate, signed by a Responsible Officer of the Borrower, certifying
      that a Replacement Primary Liquidity Facility has been substituted for
      this Agreement in full pursuant to Section 3.6(e) of the Intercreditor
      Agreement; (iv) the fifth Business Day following the receipt by the
      Borrower of a Termination Notice from the Primary Liquidity Provider
      pursuant to Section 6.01 hereof; and (v) the date on which no Advance is
      or may (including by reason of reinstatement as herein provided) become
      available for a Borrowing hereunder.

            "TERMINATION NOTICE" means the Notice of Termination substantially
      in the form of Annex V to this Agreement.

            "TRANSFEREE" has the meaning assigned to such term in Section
      7.08(b).

            "UNAPPLIED DOWNGRADE ADVANCE" means any Downgrade Advance other than
      an Applied Downgrade Advance.

            "UNAPPLIED NON-EXTENSION ADVANCE" means any Non-Extension Advance
      other than an Applied Non-Extension Advance.

            "UNAPPLIED PROVIDER ADVANCE" means any Provider Advance other than
      an Applied Provider Advance.

            "UNPAID ADVANCE" has the meaning assigned to such term in Section
      2.05.

            (b) TERMS DEFINED IN THE INTERCREDITOR AGREEMENT. For all purposes
of this Agreement, the following terms shall have the respective meanings
assigned to such terms in the Intercreditor Agreement:

     "ACCELERATION", "AIRCRAFT", "CERTIFICATES", "CLASS G-1 ABOVE-CAP LIQUIDITY
     PROVIDER", "CLASS G-1 CERTIFICATES", "CLASS G-2 CASH COLLATERAL ACCOUNT",
     "CLASS G-2 CERTIFICATEHOLDERS", "CLASS G-2 CERTIFICATES", "CLASS G-2
     TRUST", "CLASS G-2 TRUST AGREEMENT", "CLASS G-2 TRUSTEE", "CLASS H
     Certificates", "CLASS I CERTIFICATES", "CLASS J CERTIFICATES", "CLOSING
     DATE", "CONTINENTAL", "CONTINENTAL BANKRUPTCY EVENT", "CONTROLLING PARTY",
     "CORPORATE TRUST OFFICE", "DELIVERY PERIOD EXPIRY DATE", "DISTRIBUTION
     DATE", "DOWNGRADED FACILITY", "EQUIPMENT NOTES", "FEE LETTER", "FINAL LEGAL
     DISTRIBUTION DATE", "FINANCING AGREEMENT", "INDENTURE", "INVESTMENT
     EARNINGS", "LIQUIDITY FACILITY", "LIQUIDITY OBLIGATIONS", "LOAN TRUSTEE",
     "MOODY'S", "NON-EXTENDED FACILITY", "NOTE PURCHASE AGREEMENT", "OPERATIVE
     AGREEMENTS", "PARTICIPATION AGREEMENT", "PERFORMING EQUIPMENT NOTE",
     "PERSON", "POLICY", "POLICY DRAWINGS", "POLICY PROVIDER", "POLICY PROVIDER
     ELECTION", "POOL BALANCE", "PRIMARY LIQUIDITY FACILITY", "RATING AGENCY",
     "RATINGS CONFIRMATION", "REGULAR DISTRIBUTION DATE", "REPLACEMENT LIQUIDITY
     FACILITY", "RESPONSIBLE OFFICER", "SCHEDULED PAYMENT", "SPECIAL PAYMENT",
     "STANDARD & POOR'S", "STATED INTEREST RATE", "SUBORDINATION AGENT",
     "TAXES", "THRESHOLD RATING", "TRANSFER", "TRUST AGREEMENTS", "TRUSTEE",
     "UNDERWRITERS", "UNDERWRITING AGREEMENT", and "WRITTEN NOTICE".

<PAGE>

                                   ARTICLE II

                       AMOUNT AND TERMS OF THE COMMITMENT

            Section 2.01. THE ADVANCES. The Primary Liquidity Provider hereby
irrevocably agrees, on the terms and conditions hereinafter set forth, to make
Advances to the Borrower from time to time on any Business Day during the period
from the Effective Date until 1:00 p.m. (New York City time) on the Expiry Date
(unless the obligations of the Primary Liquidity Provider shall be earlier
terminated in accordance with the terms of Section 2.04(b)) in an aggregate
amount at any time outstanding not to exceed the Maximum Commitment.

            Section 2.02. MAKING THE ADVANCES. (a) Interest Advances shall be
made in one or more Borrowings by delivery to the Primary Liquidity Provider of
one or more written and completed Notices of Borrowing in substantially the form
of Annex I attached hereto, signed by a Responsible Officer of the Borrower, in
an amount not exceeding the Maximum Available Commitment at such time and shall
be used solely for the payment when due of interest on the Class G-2
Certificates at the Stated Interest Rate therefor in accordance with Section
3.6(a) of the Intercreditor Agreement. Each Interest Advance made hereunder
shall automatically reduce the Maximum Available Commitment and the amount
available to be borrowed hereunder by subsequent Advances by the amount of such
Interest Advance (subject to reinstatement as provided in the next sentence).
Upon repayment to the Primary Liquidity Provider in full of the amount of any
Interest Advance made pursuant to this Section 2.02(a), together with accrued
interest thereon (as provided herein), the Maximum Available Commitment shall be
reinstated by the amount of such repaid Interest Advance, but not to exceed the
Maximum Commitment; PROVIDED, HOWEVER, that the Maximum Available Commitment
shall not be so reinstated at any time if (i) a Liquidity Event of Default shall
have occurred and be continuing and (ii) there is a Performing Note Deficiency.

            (b) A Non-Extension Advance shall be made in a single Borrowing if
this Agreement is not extended in accordance with Section 3.6(d) of the
Intercreditor Agreement (unless a Replacement Primary Liquidity Facility to
replace this Agreement shall have been delivered to the Borrower as contemplated
by said Section 3.6(d) within the time period specified in such Section) by
delivery to the Primary Liquidity Provider of a written and completed Notice of
Borrowing in substantially the form of Annex II attached hereto, signed by a
Responsible Officer of the Borrower, in an amount equal to the Maximum Available
Commitment at such time, and shall be used to fund the Class G-2 Cash Collateral
Account in accordance with said Section 3.6(d) and Section 3.6(f) of the
Intercreditor Agreement.

            (c) A Downgrade Advance shall be made in a single Borrowing upon the
occurrence of a Downgrade Event (as provided for in Section 3.6(c) of the
Intercreditor Agreement) unless a Replacement Primary Liquidity Facility to
replace this Agreement shall have been previously delivered to the Borrower in
accordance with said Section 3.6(c), by delivery to the Primary Liquidity
Provider of a written and completed Notice of Borrowing in substantially the
form of Annex III attached hereto, signed by a Responsible Officer of the
Borrower, in an amount equal to the Maximum Available Commitment at such time,
and shall be used to fund the Class G-2 Cash Collateral Account in accordance
with said Section 3.6(c) and Section 3.6(f) of the Intercreditor Agreement. Upon
the occurrence of a Downgrade Event, the Liquidity Provider shall promptly

<PAGE>

deliver notice thereof to the Borrower, the Class G-2 Trustee, Continental and
the Policy Provider.

            (d) A Final Advance shall be made in a single Borrowing upon the
receipt by the Borrower of a Termination Notice from the Primary Liquidity
Provider pursuant to Section 6.01 hereof by delivery to the Primary Liquidity
Provider of a written and completed Notice of Borrowing in substantially the
form of Annex IV attached hereto, signed by a Responsible Officer of the
Borrower, in an amount equal to the Maximum Available Commitment at such time,
and shall be used to fund the Class G-2 Cash Collateral Account (in accordance
with Sections 3.6(f) and 3.6(i) of the Intercreditor Agreement).

            (e) Each Borrowing shall be made on notice in writing (a "NOTICE OF
BORROWING") in substantially the form required by Section 2.02(a), 2.02(b),
2.02(c) or 2.02(d), as the case may be, given by the Borrower to the Primary
Liquidity Provider. If a Notice of Borrowing is delivered by the Borrower in
respect of any Borrowing no later than 1:00 p.m. (New York City time) on a
Business Day, upon satisfaction of the conditions precedent set forth in Section
4.02 with respect to a requested Borrowing, the Primary Liquidity Provider shall
make available to the Borrower, in accordance with its payment instructions, the
amount of such Borrowing in U.S. dollars and immediately available funds, before
4:00 p.m. (New York City time) on such Business Day or on such later Business
Day specified in such Notice of Borrowing. If a Notice of Borrowing is delivered
by the Borrower in respect of any Borrowing on a day that is not a Business Day
or after 1:00 p.m. (New York City time) on a Business Day, upon satisfaction of
the conditions precedent set forth in Section 4.02 with respect to a requested
Borrowing, the Primary Liquidity Provider shall make available to the Borrower,
in accordance with its payment instructions, the amount of such Borrowing in
U.S. dollars and in immediately available funds, before 12:00 Noon (New York
City time) on the first Business Day next following the day of receipt of such
Notice of Borrowing or on such later Business Day specified by the Borrower in
such Notice of Borrowing. Payments of proceeds of a Borrowing shall be made by
wire transfer of immediately available funds to the Borrower in accordance with
such wire transfer instructions as the Borrower shall furnish from time to time
to the Primary Liquidity Provider for such purpose. Each Notice of Borrowing
shall be irrevocable and binding on the Borrower. Each Notice of Borrowing shall
be effective upon delivery of a copy thereof to the Primary Liquidity Provider's
New York Branch at the address specified in Section 7.02 hereof.

            (f) Upon the making of any Advance requested pursuant to a Notice of
Borrowing, in accordance with the Borrower's payment instructions, the Primary
Liquidity Provider shall be fully discharged of its obligation hereunder with
respect to such Notice of Borrowing, and the Primary Liquidity Provider shall
not thereafter be obligated to make any further Advances hereunder in respect of
such Notice of Borrowing to the Borrower or to any other Person. If the Primary
Liquidity Provider makes an Advance requested pursuant to a Notice of Borrowing
before 12:00 Noon (New York City time) on the second Business Day after the date
of payment specified in said Section 2.02(e), the Primary Liquidity Provider
shall have fully discharged its obligations hereunder with respect to such
Advance and an event of default shall not have occurred hereunder. Following the
making of any Advance pursuant to Section 2.02(b), (c) or (d) hereof to fund the
Class G-2 Cash Collateral Account, the Primary Liquidity Provider shall have no
interest in or rights to the Class G-2 Cash Collateral Account, the funds

<PAGE>

constituting such Advance or any other amounts from time to time on deposit in
the Class G-2 Cash Collateral Account; PROVIDED that the foregoing shall not
affect or impair the obligations of the Subordination Agent to make the
distributions contemplated by Section 3.6(e) or (f) of the Intercreditor
Agreement, and PROVIDED FURTHER, that the foregoing shall not affect or impair
the rights of the Primary Liquidity Provider to provide written instructions
with respect to the investment and reinvestment of amounts in the Cash
Collateral Accounts to the extent provided in Section 2.2(b) of the
Intercreditor Agreement. By paying to the Borrower proceeds of Advances
requested by the Borrower in accordance with the provisions of this Agreement,
the Primary Liquidity Provider makes no representation as to, and assumes no
responsibility for, the correctness or sufficiency for any purpose of the amount
of the Advances so made and requested.

            Section 2.03. FEES. The Borrower agrees to pay to the Primary
Liquidity Provider the fees set forth in the Fee Letter applicable to this
Agreement.

            Section 2.04. REDUCTIONS OR TERMINATION OF THE MAXIMUM COMMITMENT.

            (a) AUTOMATIC REDUCTION. Promptly following each date on which the
Required Amount is reduced as a result of a reduction in the Pool Balance of the
Class G-2 Certificates (including by reason of a Policy Provider Election with
respect to one or more Series G-2 Equipment Notes) or otherwise, the Maximum
Commitment shall automatically be reduced to an amount equal to such reduced
Required Amount (as calculated by the Borrower); PROVIDED that on the first
Regular Distribution Date, the Maximum Commitment shall automatically be reduced
to the then Required Amount. The Borrower shall give notice of any such
automatic reduction of the Maximum Commitment to the Primary Liquidity Provider
within two Business Days thereof. The failure by the Borrower to furnish any
such notice shall not affect such automatic reduction of the Maximum Commitment.

            (b) TERMINATION. Upon the making of any Provider Advance or Final
Advance hereunder or the occurrence of the Termination Date, the obligation of
the Primary Liquidity Provider to make further Advances hereunder shall
automatically and irrevocably terminate, and the Borrower shall not be entitled
to request any further Borrowing hereunder.

            Section 2.05. REPAYMENTS OF INTEREST ADVANCES OR THE FINAL ADVANCE.
Subject to Sections 2.06, 2.07 and 2.09 hereof, the Borrower hereby agrees,
without notice of an Advance or demand for repayment from the Primary Liquidity
Provider (which notice and demand are hereby waived by the Borrower), to pay, or
to cause to be paid, to the Primary Liquidity Provider on each date on which the
Primary Liquidity Provider shall make an Interest Advance or the Final Advance,
an amount equal to (a) the amount of such Advance (any such Advance, until
repaid, is referred to herein as an "UNPAID ADVANCE"), plus (b) interest on the
amount of each such Unpaid Advance as provided in Section 3.07 hereof; PROVIDED
that if (i) the Primary Liquidity Provider shall make a Provider Advance at any
time after making one or more Interest Advances which shall not have been repaid
in accordance with this Section 2.05 or (ii) this Liquidity Facility shall
become a Downgraded Facility or Non-Extended Facility at any time when
unreimbursed Interest Advances have reduced the Maximum Available Commitment to
zero, then such Interest Advances shall cease to constitute Unpaid Advances and
shall be deemed to have been changed into an Applied Downgrade Advance or an
Applied Non-Extension Advance, as the case may be, for all purposes of this
Agreement (including, without limitation, for the purpose of determining when

<PAGE>

such Interest Advance is required to be repaid to the Primary Liquidity Provider
in accordance with Section 2.06 and for the purposes of Section 2.06(b)). The
Borrower and the Primary Liquidity Provider agree that the repayment in full of
each Interest Advance and Final Advance on the date such Advance is made is
intended to be a contemporaneous exchange for new value given to the Borrower by
the Primary Liquidity Provider.

            Section 2.06. REPAYMENTS OF PROVIDER ADVANCES. (a) Amounts advanced
hereunder in respect of a Provider Advance shall be deposited in the Class G-2
Cash Collateral Account, invested and withdrawn from the Class G-2 Cash
Collateral Account as set forth in Sections 3.6(c), (d) and (f) of the
Intercreditor Agreement. The Borrower agrees to pay to the Primary Liquidity
Provider, on each Regular Distribution Date, commencing on the first Regular
Distribution Date after the making of a Provider Advance, interest on the
principal amount of any such Provider Advance as provided in Section 3.07;
PROVIDED, HOWEVER, that amounts in respect of a Provider Advance withdrawn from
the Class G-2 Cash Collateral Account for the purpose of paying interest on the
Class G-2 Certificates in accordance with Section 3.6(f) of the Intercreditor
Agreement (the amount of any such withdrawal being (y) in the case of a
Downgrade Advance, an "APPLIED DOWNGRADE ADVANCE" and (z) in the case of a
Non-Extension Advance, an "APPLIED NON-EXTENSION ADVANCE" and, together with an
Applied Downgrade Advance, an "APPLIED PROVIDER ADVANCE") shall thereafter
(subject to Section 2.06(b)) be treated as an Interest Advance under this
Agreement for purposes of determining the Applicable Liquidity Rate for interest
payable thereon; PROVIDED FURTHER, HOWEVER, that if, following the making of a
Provider Advance, the Primary Liquidity Provider delivers a Termination Notice
to the Borrower pursuant to Section 6.01 hereof, such Provider Advance shall
thereafter be treated as a Final Advance under this Agreement for purposes of
determining the Applicable Liquidity Rate for interest payable thereon and the
obligation for repayment thereof. Subject to Sections 2.07 and 2.09 hereof,
immediately upon the withdrawal of any amounts from the Class G-2 Cash
Collateral Account on account of a reduction in the Required Amount, the
Borrower shall repay to the Primary Liquidity Provider a portion of the Provider
Advances in a principal amount equal to such reduction, plus interest on the
principal amount prepaid as provided in Section 3.07 hereof.

            (b) At any time when an Applied Provider Advance (or any portion
thereof) is outstanding, upon the deposit in the Class G-2 Cash Collateral
Account of any amount pursuant to clause "THIRD" of Section 2.4(b) of the
Intercreditor Agreement, clause "THIRD" of Section 3.2 of the Intercreditor
Agreement or clause "FOURTH" of Section 3.3 of the Intercreditor Agreement (any
such amount being a "REPLENISHMENT AMOUNT") for the purpose of replenishing or
increasing the balance thereof up to the Required Amount at such time, (i) the
aggregate outstanding principal amount of all Applied Provider Advances (and of
Provider Advances treated as an Interest Advance for purposes of determining the
Applicable Liquidity Rate for interest payable thereon) shall be automatically
reduced by the amount of such Replenishment Amount and (ii) the aggregate
outstanding principal amount of all Unapplied Provider Advances shall be
automatically increased by the amount of such Replenishment Amount.

            (c) Upon the provision of a Replacement Primary Liquidity Facility
in replacement of this Agreement in accordance with Section 3.6(e) of the
Intercreditor Agreement, amounts remaining on deposit in the Class G-2 Cash

<PAGE>

Collateral Account after giving effect to any Applied Provider Advance on the
date of such replacement shall be reimbursed to the Primary Liquidity Provider,
but only to the extent such amounts are necessary to repay in full to the
Primary Liquidity Provider all amounts owing to it hereunder.

            Section 2.07. PAYMENTS TO THE PRIMARY LIQUIDITY PROVIDER UNDER THE
INTERCREDITOR AGREEMENT. In order to provide for payment or repayment to the
Primary Liquidity Provider of any amounts hereunder, the Intercreditor Agreement
provides that amounts available and referred to in Articles II and III of the
Intercreditor Agreement, to the extent payable to the Primary Liquidity Provider
pursuant to the terms of the Intercreditor Agreement (including, without
limitation, Section 3.6(f) of the Intercreditor Agreement), shall be paid to the
Primary Liquidity Provider in accordance with the terms thereof. Amounts so paid
to the Primary Liquidity Provider shall be applied by the Primary Liquidity
Provider to Liquidity Obligations then due and payable in accordance with the
Intercreditor Agreement or, if not provided for in the Intercreditor Agreement,
then in such manner as the Primary Liquidity Provider shall deem appropriate.

            Section 2.08. BOOK ENTRIES. The Primary Liquidity Provider shall
maintain in accordance with its usual practice an account or accounts evidencing
the indebtedness of the Borrower resulting from Advances made from time to time
and the amounts of principal and interest payable hereunder and paid from time
to time in respect thereof; PROVIDED, HOWEVER, that the failure by the Primary
Liquidity Provider to maintain such account or accounts shall not affect the
obligations of the Borrower in respect of Advances.

            Section 2.09. PAYMENTS FROM AVAILABLE FUNDS ONLY. All payments to be
made by the Borrower under this Agreement shall be made only from the amounts
that constitute Scheduled Payments, Special Payments or payments under Section
8.1 of the Participation Agreements with respect to Aircraft and payments under
Section 6 of the Note Purchase Agreement and only to the extent that the
Borrower shall have sufficient income or proceeds therefrom to enable the
Borrower to make payments in accordance with the terms hereof after giving
effect to the priority of payments provisions set forth in the Intercreditor
Agreement. The Primary Liquidity Provider agrees that it will look solely to
such amounts to the extent available for distribution to it as provided in the
Intercreditor Agreement and this Agreement and that the Borrower, in its
individual capacity, is not personally liable to it for any amounts payable or
liability under this Agreement except as expressly provided in this Agreement,
the Intercreditor Agreement or any Participation Agreement. Amounts on deposit
in the Class G-2 Cash Collateral Account shall be available to the Borrower to
make payments under this Agreement only to the extent and for the purposes
expressly contemplated in Section 3.6(f) of the Intercreditor Agreement.

            Section 2.10. EXTENSION OF THE EXPIRY DATE; NON-EXTENSION ADVANCE.
No earlier than the 60th day and no later than the 40th day prior to the then
effective Expiry Date (unless such Expiry Date is on or after the date that is
15 days after the Final Legal Distribution Date for the Class G-2 Certificates),
the Borrower shall request that the Primary Liquidity Provider extend the Expiry
Date to the earlier of (i) the date that is 15 days after the Final Legal
Distribution Date for the Class G-2 Certificates and (ii) the date that is the
day immediately preceding the 364th day occurring after the last day of the
Consent Period (as hereinafter defined). Whether or not the Borrower has made
such request, the Primary Liquidity Provider shall advise the Borrower and the

<PAGE>

Policy Provider, no earlier than the 40th day (or, if earlier, the date of the
Primary Liquidity Provider's receipt of such request, if any, from the Borrower)
and no later than the 25th day prior to the then effective Expiry Date (such
period, the "CONSENT PERIOD"), whether, in its sole discretion, it agrees to so
extend the Expiry Date. If the Primary Liquidity Provider advises the Borrower
and the Policy Provider on or before the date on which the Consent Period ends
that such Expiry Date shall not be so extended, or fails to irrevocably and
unconditionally advise the Borrower on or before the date on which the Consent
Period ends that such Expiry Date shall be so extended (and, in each case, if
the Primary Liquidity Provider shall not have been replaced in accordance with
Section 3.6(e) of the Intercreditor Agreement), the Borrower shall be entitled
on and after the date on which the Consent Period ends (but prior to the then
effective Expiry Date) to request a Non-Extension Advance in accordance with
Section 2.02(b) hereof and Section 3.6(d) of the Intercreditor Agreement.

            Section 2.11 RIGHT TO FURTHER EXTEND EXPIRY DATE. Subject to the
proviso in the immediately succeeding sentence, the Primary Liquidity Provider
shall have the right at any time and without the consent of the Borrower to
extend the then effective Expiry Date to the date that is 15 days after the
Final Legal Distribution Date for the Class G-2 Certificates by giving not less
than five nor more than ten days' prior written notice of such extension to the
Borrower, the Class G-2 Trustee and Continental (which notice shall specify the
effective date of such extension (the "EXTENSION EFFECTIVE DATE")). On the
Extension Effective Date, the then effective Expiry Date shall be so extended
without any further act; PROVIDED, HOWEVER, that if prior to the Extension
Effective Date a Downgrade Event shall have occurred, the then effective Expiry
Date shall not be so extended.

                                   ARTICLE III

                           OBLIGATIONS OF THE BORROWER

            Section 3.01. INCREASED COSTS. The Borrower shall pay to the Primary
Liquidity Provider from time to time such amounts as may be necessary to
compensate the Primary Liquidity Provider for any increased costs incurred by
the Primary Liquidity Provider which are attributable to its making or
maintaining any LIBOR Advances hereunder or its obligation to make any such
Advances hereunder, or any reduction in any amount receivable by the Primary
Liquidity Provider under this Agreement or the Intercreditor Agreement in
respect of any such Advances or such obligation (such increases in costs and
reductions in amounts receivable being herein called "ADDITIONAL COSTS"),
resulting from any change after the date of this Agreement in U.S. federal,
state, municipal, or foreign laws or regulations (including Regulation D of the
Board of Governors of the Federal Reserve System), or the adoption or making
after the date of this Agreement of any interpretations, directives, or
requirements applying to a class of banks including the Primary Liquidity
Provider under any U.S. federal, state, municipal, or any foreign laws or
regulations (whether or not having the force of law) by any court, central bank
or monetary authority charged with the interpretation or administration thereof
(a "REGULATORY CHANGE"), which: (1) changes the basis of taxation of any amounts
payable to the Primary Liquidity Provider under this Agreement in respect of any
such Advances or such obligation (other than Excluded Taxes); or (2) imposes or
modifies any reserve, special deposit, compulsory loan or similar requirements
relating to any extensions of credit or other assets of, or any deposits with

<PAGE>

other liabilities of, the Primary Liquidity Provider (including any such
Advances or such obligation or any deposits referred to in the definition of
LIBOR Rate or related definitions). The Primary Liquidity Provider agrees to use
reasonable efforts (consistent with applicable legal and regulatory
restrictions) to change the jurisdiction of its Facility Office if making such
change would avoid the need for, or reduce the amount of, any amount payable
under this Section that may thereafter accrue and would not, in the reasonable
judgment of the Primary Liquidity Provider, be otherwise disadvantageous to the
Primary Liquidity Provider.

            The Primary Liquidity Provider will notify the Borrower of any event
occurring after the date of this Agreement that will entitle the Primary
Liquidity Provider to compensation pursuant to this Section 3.01 as promptly as
practicable after it obtains knowledge thereof and determines to request such
compensation, which notice shall describe in reasonable detail the calculation
of the amounts owed under this Section. Determinations by the Primary Liquidity
Provider for purposes of this Section 3.01 of the effect of any Regulatory
Change on its costs of making or maintaining Advances or on amounts receivable
by it in respect of Advances, and of the additional amounts required to
compensate the Primary Liquidity Provider in respect of any Additional Costs,
shall be prima facie evidence of the amount owed under this Section.

            Notwithstanding the preceding two paragraphs, the Primary Liquidity
Provider and the Subordination Agent agree that any permitted assignee or
participant of the initial Primary Liquidity Provider which is not a bank shall
not be entitled to the benefits of the preceding two paragraphs (but without
limiting the provisions of Section 7.08 hereof).

            Section 3.02. CAPITAL ADEQUACY. If (1) the adoption, after the date
hereof, of any applicable governmental law, rule or regulation regarding capital
adequacy, (2) any change, after the date hereof, in the interpretation or
administration of any such law, rule or regulation by any central bank or other
governmental authority charged with the interpretation or administration thereof
or (3) compliance by the Primary Liquidity Provider or any corporation
controlling the Primary Liquidity Provider with any applicable guideline or
request of general applicability, issued after the date hereof, by any central
bank or other governmental authority (whether or not having the force of law)
that constitutes a change of the nature described in clause (2), has the effect
of requiring an increase in the amount of capital required to be maintained by
the Primary Liquidity Provider or any corporation controlling the Primary
Liquidity Provider, and such increase is based upon the Primary Liquidity
Provider's obligations hereunder and other similar obligations, the Borrower
shall, subject to the provisions of the next paragraph, pay to the Primary
Liquidity Provider from time to time such additional amount or amounts as are
necessary to compensate the Primary Liquidity Provider for such portion of such
increase as shall be reasonably allocable to the Primary Liquidity Provider's
obligations to the Borrower hereunder. The Primary Liquidity Provider agrees to
use reasonable efforts (consistent with applicable legal and regulatory
restrictions) to change the jurisdiction of its Facility Office if making such
change would avoid the need for, or reduce the amount of, any amount payable
under this Section that may thereafter accrue and would not, in the reasonable
judgment of the Primary Liquidity Provider, be otherwise materially
disadvantageous to the Primary Liquidity Provider.

            From and after the Extension Effective Date and prior to the
occurrence of a Helaba Downgrade, the Primary Liquidity Provider will be

<PAGE>

entitled to compensation pursuant to this Section 3.02 only to the extent that
the Primary Liquidity Provider would have been so entitled if the Extension
Effective Date had not occurred. From and after the Extension Effective Date and
after the occurrence of a Helaba Downgrade, the Primary Liquidity Provider will
be entitled to compensation pursuant to this Section 3.02 only to the extent
that the Primary Liquidity Provider would have been so entitled had the Primary
Liquidity Provider made a Downgrade Advance upon the occurrence of such Helaba
Downgrade.

            The Primary Liquidity Provider will notify the Borrower of any event
occurring after the date of this Agreement that will entitle the Primary
Liquidity Provider to compensation pursuant to this Section 3.02 as promptly as
practicable after it obtains knowledge thereof and determines to request such
compensation, which notice shall describe in reasonable detail the calculation
of the amounts owed under this Section. Determinations by the Primary Liquidity
Provider for purposes of this Section 3.02 of the effect of any increase in the
amount of capital required to be maintained by the Primary Liquidity Provider
and of the amount allocable to the Primary Liquidity Provider's obligations to
the Borrower hereunder shall be prima facie evidence of the amounts owed under
this Section.

            Notwithstanding the preceding three paragraphs, the Primary
Liquidity Provider and the Subordination Agent agree that any permitted assignee
or participant of the initial Primary Liquidity Provider which is not a bank
shall not be entitled to the benefits of the preceding two paragraphs (but
without limiting the provisions of Section 7.08 hereof).

            Section 3.03. PAYMENTS FREE OF DEDUCTIONS. (a) All payments made by
the Borrower under this Agreement shall be made free and clear of, and without
reduction for or on account of, any present or future stamp or other taxes,
levies, imposts, duties, charges, fees, deductions, withholdings, restrictions
or conditions of any nature whatsoever now or hereafter imposed, levied,
collected, withheld or assessed, excluding Excluded Taxes (such non-excluded
taxes being referred to herein, collectively, as "NON-EXCLUDED TAXES" and each,
individually, as a "NON-EXCLUDED TAX"). If any Non-Excluded Taxes are required
to be withheld from any amounts payable to the Primary Liquidity Provider under
this Agreement, (i) the Borrower shall within the time prescribed therefor by
applicable law pay to the appropriate governmental or taxing authority the full
amount of any such Non-Excluded Taxes (and any additional Non-Excluded Taxes in
respect of the additional amounts payable under clause (ii) hereof) and make
such reports or returns in connection therewith at the time or times and in the
manner prescribed by applicable law, and (ii) the amounts so payable to the
Primary Liquidity Provider shall be increased to the extent necessary to yield
to the Primary Liquidity Provider (after payment of all Non-Excluded Taxes)
interest or any other such amounts payable under this Agreement at the rates or
in the amounts specified in this Agreement. The Primary Liquidity Provider
agrees to use reasonable efforts (consistent with its internal policy and legal
and regulatory restrictions) to change the jurisdiction of its Facility Office
if making such change would avoid the need for, or reduce the amount of, any
such additional amounts that may thereafter accrue and would not, in the
reasonable judgment of the Primary Liquidity Provider, be otherwise
disadvantageous to the Primary Liquidity Provider. From time to time upon the
reasonable request of the Borrower, the Primary Liquidity Provider agrees to
provide to the Borrower two original Internal Revenue Service Form W-8BEN or
W-8ECI, as appropriate, or any successor or other form prescribed by the
Internal Revenue Service, certifying that the Primary Liquidity Provider is
exempt from or entitled to a reduced rate of United States withholding tax on
payments pursuant to this Agreement. Within 30 days after the date of each

<PAGE>

payment hereunder, the Borrower shall furnish to the Primary Liquidity Provider
the original or a certified copy of (or other documentary evidence of) the
payment of the Non-Excluded Taxes applicable to such payment.

            (b) All payments (including, without limitation, Advances) made by
the Primary Liquidity Provider under this Agreement shall be made free and clear
of, and without reduction for or on account of, any Taxes. If any Taxes are
required to be withheld or deducted from any amounts payable to the Borrower
under this Agreement, the Primary Liquidity Provider shall (i) within the time
prescribed therefor by applicable law pay to the appropriate governmental or
taxing authority the full amount of any such Taxes (and any additional Taxes in
respect of the additional amounts payable under clause (ii) hereof) and make
such reports or returns in connection therewith at the time or times and in the
manner prescribed by applicable law, and (ii) pay to the Borrower an additional
amount which (after deduction of all such Taxes) will be sufficient to yield to
the Borrower the full amount which would have been received by it had no such
withholding or deduction been made. Within 30 days after the date of each
payment hereunder, the Primary Liquidity Provider shall furnish to the Borrower
the original or a certified copy of (or other documentary evidence of) the
payment of the Taxes applicable to such payment.

            (c) If any exemption from, or reduction in the rate of, any Taxes is
reasonably available to the Borrower to establish that payments under this
Agreement are exempt from (or entitled to a reduced rate of) tax, the Borrower
shall deliver to the Primary Liquidity Provider such form or forms and such
other evidence of the eligibility of the Borrower for such exemption or
reduction as the Primary Liquidity Provider may reasonably identify to the
Borrower as being required as a condition to exemption from, or reduction in the
rate of, any Taxes.

            Section 3.04. PAYMENTS. The Borrower shall make or cause to be made
each payment to the Primary Liquidity Provider under this Agreement so as to
cause the same to be received by the Primary Liquidity Provider not later than
1:00 P.M. (New York City time) on the day when due. The Borrower shall make all
such payments in lawful money of the United States of America, to the Primary
Liquidity Provider in immediately available funds, by wire transfer to Citibank
N.A., New York/ABA 021000089 in favor of account number 10920118, reference
Continental Airlines Trust 2002-1G-2 #4244133, MT215000, attn. M. Kirr.

            Section 3.05. COMPUTATIONS. All computations of interest based on
the Base Rate shall be made on the basis of a year of 365 or 366 days, as the
case may be, and all computations of interest based on the LIBOR Rate shall be
made on the basis of a year of 360 days, in each case for the actual number of
days (including the first day but excluding the last day) occurring in the
period for which such interest is payable.

            Section 3.06. PAYMENT ON NON-BUSINESS DAYS. Whenever any payment to
be made hereunder shall be stated to be due on a day other than a Business Day,
such payment shall be made on the next succeeding Business Day and no additional
interest shall be due as a result (and if so made, shall be deemed to have been
made when due). If any payment in respect of interest on an Advance is so
deferred to the next succeeding Business Day, such deferral shall not delay the
commencement of the next Interest Period for such Advance (if such Advance is a

<PAGE>

LIBOR Advance) or reduce the number of days for which interest will be payable
on such Advance on the next interest payment date for such Advance.

            Section 3.07. INTEREST. (a) Subject to Section 2.09, the Borrower
shall pay, or shall cause to be paid, without duplication, interest on (i) the
unpaid principal amount of each Advance from and including the date of such
Advance (or, in the case of an Applied Provider Advance, from and including the
date on which the amount thereof was withdrawn from the Class G-2 Cash
Collateral Account to pay interest on the Class G-2 Certificates) to but
excluding the date such principal amount shall be paid in full (or, in the case
of an Applied Provider Advance, the date on which the Class G-2 Cash Collateral
Account is fully replenished in respect of such Advance) and (ii) any other
amount due hereunder (whether fees, commissions, expenses or other amounts or,
to the extent permitted by law, installments of interest on Advances or any such
other amount) which is not paid when due (whether at stated maturity, by
acceleration or otherwise) from and including the due date thereof to but
excluding the date such amount is paid in full, in each such case, at a
fluctuating interest rate per annum for each day equal to the Applicable
Liquidity Rate (as defined below) for such Advance or such other amount as in
effect for such day, but in no event at a rate per annum greater than the
maximum rate permitted by applicable law; PROVIDED, HOWEVER, that, if at any
time the otherwise applicable interest rate as set forth in this Section 3.07
shall exceed the maximum rate permitted by applicable law, then any subsequent
reduction in such interest rate will not reduce the rate of interest payable
pursuant to this Section 3.07 below the maximum rate permitted by applicable law
until the total amount of interest accrued equals the amount of interest that
would have accrued if such otherwise applicable interest rate as set forth in
this Section 3.07 had at all times been in effect.

            (b) Except as provided in clause (e) below, each Advance (including,
without limitation, each outstanding Unapplied Downgrade Advance) will be either
a Base Rate Advance or a LIBOR Advance as provided in this Section. Each such
Advance will be a Base Rate Advance for the period from the date of its
borrowing to (but excluding) the third Business Day following the Primary
Liquidity Provider's receipt of the Notice of Borrowing for such Advance.
Thereafter, such Advance shall be a LIBOR Advance; provided that the Borrower
(at the direction of the Controlling Party, so long as the Primary Liquidity
Provider is not the Controlling Party) may (x) convert the Final Advance into a
Base Rate Advance on the last day of an Interest Period for such Advance by
giving the Primary Liquidity Provider no less than four Business Days' prior
written notice of such election or (y) elect to maintain the Final Advance as a
Base Rate Advance by not requesting a conversion of the Final Advance to a LIBOR
Advance under Clause (5) of the applicable Notice of Borrowing (or, if such
Final Advance is deemed to have been made, without delivery of a Notice of
Borrowing pursuant to Section 2.06, by requesting, prior to 11:00 A.M. (New York
City time) on the first Business Day immediately following the Borrower's
receipt of the applicable Termination Notice, that such Final Advance not be
converted from a Base Rate Advance to a LIBOR Advance).

            (c) Each LIBOR Advance shall bear interest during each Interest
Period at a rate per annum equal to the LIBOR Rate for such Interest Period plus
the Applicable Margin for such LIBOR Advance, payable in arrears on the last day
of such Interest Period and, in the event of the payment of principal of such
LIBOR Advance on a day other than such last day, on the date of such payment (to
the extent of interest accrued on the amount of principal repaid).

<PAGE>

            (d) Each Base Rate Advance shall bear interest at a rate per annum
equal to the Base Rate plus the Applicable Margin for such Base Rate Advance,
payable in arrears on each Regular Distribution Date and, in the event of the
payment of principal of such Base Rate Advance on a day other than a Regular
Distribution Date, on the date of such payment (to the extent of interest
accrued on the amount of principal repaid).

            (e) Each outstanding Unapplied Non-Extension Advance shall bear
interest in an amount equal to the Investment Earnings on amounts on deposit in
the Class G-2 Cash Collateral Account plus the Applicable Margin for such
Unapplied Non-Extension Advance on the amount of such Unapplied Non-Extension
Advance from time to time, payable in arrears on each Regular Distribution Date.

            (f) Each amount not paid when due hereunder (whether fees,
commissions, expenses or other amounts or, to the extent permitted by applicable
law, installments of interest on Advances but excluding Advances) shall bear
interest at a rate per annum equal to the Base Rate plus 2.00% until paid.

            (g) Each change in the Base Rate shall become effective immediately.
The rates of interest specified in this Section 3.07 with respect to any Advance
or other amount shall be referred to as the "APPLICABLE LIQUIDITY RATE".

            Section 3.08. REPLACEMENT OF BORROWER. From time to time and subject
to the successor Borrower's meeting the eligibility requirements set forth in
Section 6.9 of the Intercreditor Agreement applicable to the Subordination
Agent, upon the effective date and time specified in a written and completed
Notice of Replacement Subordination Agent in substantially the form of Annex VI
attached hereto (a "NOTICE OF REPLACEMENT SUBORDINATION AGENT") delivered to the
Primary Liquidity Provider by the then Borrower, the successor Borrower
designated therein shall be substituted for as the Borrower for all purposes
hereunder.

            Section 3.09. FUNDING LOSS INDEMNIFICATION. The Borrower shall pay
to the Primary Liquidity Provider, upon the request of the Primary Liquidity
Provider, such amount or amounts as shall be sufficient (in the reasonable
opinion of the Primary Liquidity Provider) to compensate it for any loss, cost,
or expense incurred by reason of the liquidation or redeployment of deposits or
other funds acquired by the Primary Liquidity Provider to fund or maintain any
LIBOR Advance (but excluding loss of anticipated profits) incurred as a result
of:

            (1) Any repayment of a LIBOR Advance on a date other than the last
      day of the Interest Period for such Advance; or

            (2) Any failure by the Borrower to borrow a LIBOR Advance on the
      date for borrowing specified in the relevant notice under Section 2.02.

            Section 3.10. ILLEGALITY. Notwithstanding any other provision in
this Agreement, if any change in any applicable law, rule or regulation, or any
change in the interpretation or administration thereof by any governmental
authority, central bank or comparable agency charged with the interpretation or
administration thereof, or compliance by the Primary Liquidity Provider (or its
Facility Office) with any request or directive (whether or not having the force

<PAGE>

of law) of any such authority, central bank or comparable agency shall make it
unlawful or impossible for the Primary Liquidity Provider (or its Facility
Office) to maintain or fund its LIBOR Advances, then upon notice to the Borrower
by the Primary Liquidity Provider, the outstanding principal amount of the LIBOR
Advances shall be converted to Base Rate Advances (a) immediately upon demand of
the Primary Liquidity Provider, if such change or compliance with such request,
in the judgment of the Primary Liquidity Provider, requires immediate repayment;
or (b) at the expiration of the last Interest Period to expire before the
effective date of any such change or request. The Primary Liquidity Provider
agrees to use reasonable efforts (consistent with applicable legal and
regulatory restrictions) to change the jurisdiction of its Facility Office if
making such change would avoid or cure the aforesaid illegality and would not,
in the reasonable judgment of the Primary Liquidity Provider, be otherwise
disadvantageous to the Primary Liquidity Provider.

                                   ARTICLE IV

                              CONDITIONS PRECEDENT

            Section 4.01. CONDITIONS PRECEDENT TO EFFECTIVENESS OF SECTION 2.01.
Section 2.01 of this Agreement shall become effective on and as of the first
date (the "EFFECTIVE DATE") on which the following conditions precedent have
been satisfied or waived:

            (a) The Primary Liquidity Provider shall have received each of the
      following, and in the case of each document delivered pursuant to
      paragraphs (i), (ii) and (iii), each in form and substance satisfactory to
      the Primary Liquidity Provider:

                  (i) This Agreement duly executed on behalf of the Borrower,
            the Fee Letter applicable to this Agreement duly executed on behalf
            of the Borrower and the Tax Letter duly executed on behalf of
            Continental;

                  (ii) The Intercreditor Agreement duly executed on behalf of
            each of the parties thereto (other than the Primary Liquidity
            Provider);

                  (iii) Fully executed copies of each of the Operative
            Agreements executed and delivered on the Closing Date (other than
            this Agreement, the Fee Letter applicable to this Agreement, the Tax
            Letter and the Intercreditor Agreement);

                  (iv) A copy of the Prospectus Supplement and specimen copies
            of the Class G-2 Certificates;

                  (v) An executed copy of each document, instrument, certificate
            and opinion delivered on the Closing Date pursuant to the Class G-2
            Trust Agreement, the Intercreditor Agreement and the other Operative
            Agreements (in the case of each such opinion, other than the opinion
            of counsel for the Underwriters, either addressed to the Primary
            Liquidity Provider or accompanied by a letter from the counsel
            rendering such opinion to the effect that the Primary Liquidity
            Provider is entitled to rely on such opinion as of its date as if it
            were addressed to the Primary Liquidity Provider);

<PAGE>

                  (vi) Evidence that there shall have been made and shall be in
            full force and effect, all filings, recordings and/or registrations,
            and there shall have been given or taken any notice or other similar
            action as may be reasonably necessary or, to the extent reasonably
            requested by the Primary Liquidity Provider, reasonably advisable,
            in order to establish, perfect, protect and preserve the right,
            title and interest, remedies, powers, privileges, liens and security
            interests of, or for the benefit of, the Trustees, the Borrower and
            the Primary Liquidity Provider created by the Operative Agreements
            executed and delivered on the Closing Date;

                  (vii) An agreement from Continental, pursuant to which (i)
            Continental agrees to provide to the Primary Liquidity Provider (A)
            within 90 days after the end of each of the first three fiscal
            quarters in each fiscal year of Continental, a consolidated balance
            sheet of Continental as of the end of such quarter and related
            statements of income and cash flows for the period commencing at the
            end of the previous fiscal year and ending with the end of such
            quarter, setting forth in each case in comparative form the
            corresponding figures for the corresponding period in the preceding
            fiscal year, prepared in accordance with GAAP; PROVIDED, that so
            long as Continental is subject to the reporting requirements of the
            Securities Exchange Act of 1934, as amended, a copy of Continental's
            report on Form 10-Q for such fiscal quarter (excluding exhibits) or
            a written notice executed by an authorized officer of Continental
            that such report has been filed with the Securities and Exchange
            Commission, providing a website address at which such report may be
            accessed and confirming that the report accessible at such website
            address conforms to the original report filed with the Securities
            and Exchange Commission will satisfy this subclause (A), and (B)
            within 120 days after the end of each fiscal year of Continental, a
            consolidated balance sheet of Continental as of the end of such
            fiscal year and related statements of income and cash flows of
            Continental for such fiscal year, in comparative form with the
            preceding fiscal year, prepared in accordance with GAAP, together
            with a report of Continental's independent certified public
            accountants with respect to their audit of such financial
            statements; PROVIDED, that so long as Continental is subject to the
            reporting requirements of the Securities Exchange Act of 1934, as
            amended, a copy of Continental's report on Form 10-K for such fiscal
            year (excluding exhibits) or a written notice executed by an
            authorized officer of Continental that such report has been filed
            with the Securities and Exchange Commission, providing a website
            address at which such report may be accessed and confirming that the
            report accessible at such website address conforms to the original
            report filed with the Securities and Exchange Commission will
            satisfy this subclause (B), and (ii) Continental agrees to allow the
            Primary Liquidity Provider to inspect Continental's books and
            records regarding such transactions, and to discuss such
            transactions with officers and employees of Continental; and

                  (viii) Such other documents, instruments, opinions and
            approvals pertaining to the transactions contemplated hereby or by
            the other Operative Agreements as the Primary Liquidity Provider
            shall have reasonably requested.

<PAGE>

            (b) The following statement shall be true on and as of the Effective
      Date: no event has occurred and is continuing, or would result from the
      entering into of this Agreement or the making of any Advance, which
      constitutes a Liquidity Event of Default.

            (c) The Primary Liquidity Provider shall have received payment in
      full of all fees and other sums required to be paid to or for the account
      of the Primary Liquidity Provider on or prior to the Effective Date.

            (d) All conditions precedent to the issuance of the Certificates
      under the Trust Agreements shall have been satisfied or waived, and all
      conditions precedent to the purchase of the Class G-1 Certificates and
      Class G-2 Certificates by the Underwriters under the Underwriting
      Agreement shall have been satisfied or waived.

            (e) The Borrower shall have received a certificate, dated the date
      hereof, signed by a duly authorized representative of the Primary
      Liquidity Provider, certifying that all conditions precedent to the
      effectiveness of Section 2.01 have been satisfied or waived

            Section 4.02. CONDITIONS PRECEDENT TO BORROWING. The obligation of
the Primary Liquidity Provider to make an Advance on the occasion of each
Borrowing shall be subject to the conditions precedent that the Effective Date
shall have occurred and, on or prior to the date of such Borrowing, the Borrower
shall have delivered a Notice of Borrowing which conforms to the terms and
conditions of this Agreement and has been completed as may be required by the
relevant form of the Notice of Borrowing for the type of Advances requested.

                                    ARTICLE V

                                    COVENANTS

            Section 5.01. AFFIRMATIVE COVENANTS OF THE BORROWER. So long as any
Advance shall remain unpaid or the Primary Liquidity Provider shall have any
Maximum Commitment hereunder or the Borrower shall have any obligation to pay
any amount to the Primary Liquidity Provider hereunder, the Borrower will,
unless the Primary Liquidity Provider shall otherwise consent in writing:

            (a) PERFORMANCE OF THIS AND OTHER AGREEMENTS. Punctually pay or
      cause to be paid all amounts payable by it under this Agreement and the
      other Operative Agreements and observe and perform in all material
      respects the conditions, covenants and requirements applicable to it
      contained in this Agreement and the other Operative Agreements.

            (b) REPORTING REQUIREMENTS. Furnish to the Primary Liquidity
      Provider with reasonable promptness, such other information and data with
      respect to the transactions contemplated by the Operative Agreements as
      from time to time may be reasonably requested by the Primary Liquidity
      Provider; and permit the Primary Liquidity Provider, upon reasonable
      notice, to inspect the Borrower's books and records with respect to such

<PAGE>

      transactions and to meet with officers and employees of the Borrower to
      discuss such transactions.

            (c) CERTAIN OPERATIVE AGREEMENTS. Furnish to the Primary Liquidity
      Provider with reasonable promptness, such Operative Agreements entered
      into after the date hereof as from time to time may be reasonably
      requested by the Primary Liquidity Provider.

            Section 5.02. NEGATIVE COVENANTS OF THE BORROWER. So long as any
Advance shall remain unpaid or the Primary Liquidity Provider shall have any
Maximum Commitment hereunder or the Borrower shall have any obligation to pay
any amount to the Primary Liquidity Provider hereunder, the Borrower will not
appoint or permit or suffer to be appointed any successor Borrower without the
prior written consent of the Primary Liquidity Provider, which consent shall not
be unreasonably withheld or delayed.

                                   ARTICLE VI

                           LIQUIDITY EVENTS OF DEFAULT

            Section 6.01. LIQUIDITY EVENTS OF DEFAULT. If (a) any Liquidity
Event of Default has occurred and is continuing and (b) there is a Performing
Note Deficiency, the Primary Liquidity Provider may, in its discretion, deliver
to the Borrower a Termination Notice, the effect of which shall be to cause (i)
the obligation of the Primary Liquidity Provider to make Advances hereunder to
expire on the fifth Business Day after the date on which such Termination Notice
is received by the Borrower, (ii) the Borrower to promptly request, and the
Primary Liquidity Provider to promptly make, a Final Advance in accordance with
Section 2.02(d) hereof and Section 3.6(i) of the Intercreditor Agreement, (iii)
all other outstanding Advances to be automatically converted into Final Advances
for purposes of determining the Applicable Liquidity Rate for interest payable
thereon, and (iv) subject to Sections 2.07 and 2.09 hereof, all Advances
(including, without limitation, any Provider Advance and Applied Provider
Advance), any accrued interest thereon and any other amounts outstanding
hereunder to become immediately due and payable to the Primary Liquidity
Provider.

                                   ARTICLE VII

                                  MISCELLANEOUS

            Section 7.01. AMENDMENTS, ETC. No amendment or waiver of any
provision of this Agreement, nor consent to any departure by the Borrower
therefrom, shall in any event be effective unless the same shall be in writing
and signed by the Primary Liquidity Provider, and, in the case of an amendment
or of a waiver by the Borrower, the Borrower, and then such waiver or consent
shall be effective only in the specific instance and for the specific purpose
for which given.

<PAGE>

            Section 7.02. NOTICES, ETC. Except as otherwise expressly provided
herein, all notices and other communications provided for hereunder shall be in
writing (including telecopier and mailed or delivered or sent by telecopier):

            Borrower:              WILMINGTON TRUST COMPANY
                                   Rodney Square North
                                   1100 North Market Square
                                   Wilmington, DE 19890-1605
                                   Attention: Corporate Capital Market Services

                                   Telephone: (302) 636-6296
                                   Telecopy: (302) 636-4140

            Primary Liquidity      LANDESBANK HESSEN-THURINGEN
            Provider:              GIROZENTRALE
                                   Main Tower
                                   Neue Mainzer Str. 52 - 58
                                   60311 Frankfurt am Main
                                   Germany
                                   Attention: Asset Finance

                                   Telephone: 49-69-9132-4882
                                   Telecopy: 49-69-9132-4392

with a copy of any Notice of Borrowing to:

                                   LANDESBANK HESSEN-THURINGEN
                                   420 Fifth Avenue, 24th Floor
                                   New York, NY 10018
                                   Attention: Project Finance/Michael Novack

                                   Telephone: (212) 703-5224
                                   Telecopy: (212) 703-5256

or, as to each of the foregoing, at such other address as shall be designated by
such Person in a written notice to the others. All such notices and
communications shall be effective (i) if given by telecopier, when transmitted
to the telecopier number specified above, (ii) if given by mail, when deposited
in the mails addressed as specified above, and (iii) if given by other means,
when delivered at the address specified above, except that written notices to
the Primary Liquidity Provider pursuant to the provisions of Article II and
Article III hereof shall not be effective until received by the Primary
Liquidity Provider. A copy of all notices delivered hereunder to either party
shall in addition be delivered to each of the parties to the Participation
Agreements at their respective addresses set forth therein.

            Section 7.03. NO WAIVER; REMEDIES. No failure on the part of the
Primary Liquidity Provider to exercise, and no delay in exercising, any right
under this Agreement shall operate as a waiver thereof; nor shall any single or
partial exercise of any right under this Agreement preclude any other or further

<PAGE>

exercise thereof or the exercise of any other right. The remedies herein
provided are cumulative and not exclusive of any remedies provided by law.

            Section 7.04. FURTHER ASSURANCES. The Borrower agrees to do such
further acts and things and to execute and deliver to the Primary Liquidity
Provider such additional assignments, agreements, powers and instruments as the
Primary Liquidity Provider may reasonably require or deem advisable to carry
into effect the purposes of this Agreement and the other Operative Agreements or
to better assure and confirm unto the Primary Liquidity Provider its rights,
powers and remedies hereunder and under the other Operative Agreements.

            Section 7.05. INDEMNIFICATION; SURVIVAL OF CERTAIN PROVISIONS. The
Primary Liquidity Provider shall be indemnified hereunder to the extent and in
the manner described in Section 8.1 of the Participation Agreements with respect
to Aircraft. In addition, the Borrower agrees to indemnify, protect, defend and
hold harmless the Primary Liquidity Provider from, against and in respect of,
and shall pay on demand, all Expenses of any kind or nature whatsoever (other
than any Expenses of the nature described in Section 3.01, 3.02 or 7.07 hereof
or in the Fee Letter applicable to this Agreement (regardless of whether
indemnified against pursuant to said Sections or in such Fee Letter)), that may
be imposed, incurred by or asserted against any Liquidity Indemnitee, in any way
relating to, resulting from, or arising out of or in connection with any action,
suit or proceeding by any third party against such Liquidity Indemnitee and
relating to this Agreement, the Fee Letter applicable to this Agreement, the
Intercreditor Agreement or any Financing Agreement; PROVIDED, HOWEVER, that the
Borrower shall not be required to indemnify, protect, defend and hold harmless
any Liquidity Indemnitee in respect of any Expense of such Liquidity Indemnitee
to the extent such Expense is (i) attributable to the gross negligence or
willful misconduct of such Liquidity Indemnitee or any other Liquidity
Indemnitee, (ii) ordinary and usual operating overhead expense, or (iii)
attributable to the failure by such Liquidity Indemnitee or any other Liquidity
Indemnitee to perform or observe any agreement, covenant or condition on its
part to be performed or observed in this Agreement, the Intercreditor Agreement,
the Fee Letter applicable to this Agreement, the Tax Letter or any other
Operative Agreement to which it is a party. The indemnities contained in Section
8.1 of the Participation Agreements, and the provisions of Sections 3.01, 3.02,
3.03, 3.09, 7.05 and 7.07 hereof, shall survive the termination of this
Agreement.

            Section 7.06. LIABILITY OF THE PRIMARY LIQUIDITY PROVIDER. (a)
Neither the Primary Liquidity Provider nor any of its officers, employees,
directors or Affiliates shall be liable or responsible for: (i) the use which
may be made of the Advances or any acts or omissions of the Borrower or any
beneficiary or transferee in connection therewith; (ii) the validity,
sufficiency or genuineness of documents, or of any endorsement thereon, even if
such documents should prove to be in any or all respects invalid, insufficient,
fraudulent or forged; or (iii) the making of Advances by the Primary Liquidity
Provider against delivery of a Notice of Borrowing and other documents which do
not comply with the terms hereof; PROVIDED, HOWEVER, that the Borrower shall
have a claim against the Primary Liquidity Provider, and the Primary Liquidity
Provider shall be liable to the Borrower, to the extent of any damages suffered
by the Borrower which were the result of (A) the Primary Liquidity Provider's
willful misconduct or negligence in determining whether documents presented
hereunder comply with the terms hereof, or (B) any breach by the Primary
Liquidity Provider of any of the terms of this Agreement, including, but not
limited to, the Primary Liquidity Provider's failure to make lawful payment

<PAGE>

hereunder after the delivery to it by the Borrower of a Notice of Borrowing
strictly complying with the terms and conditions hereof.

            (b) Neither the Primary Liquidity Provider nor any of its officers,
employees, directors or Affiliates shall be liable or responsible in any respect
for (i) any error, omission, interruption or delay in transmission, dispatch or
delivery of any message or advice, however transmitted, in connection with this
Agreement or any Notice of Borrowing delivered hereunder, or (ii) any action,
inaction or omission which may be taken by it in good faith, absent willful
misconduct or negligence (in which event the extent of the Primary Liquidity
Provider's potential liability to the Borrower shall be limited as set forth in
the immediately preceding paragraph), in connection with this Agreement or any
Notice of Borrowing.

            Section 7.07. COSTS, EXPENSES AND TAXES. The Borrower agrees to pay,
or cause to be paid (A) on the Effective Date and on such later date or dates on
which the Primary Liquidity Provider shall make demand, all reasonable
out-of-pocket costs and expenses (including, without limitation, the reasonable
fees and expenses of outside counsel for the Primary Liquidity Provider) of the
Primary Liquidity Provider in connection with the preparation, negotiation,
execution, delivery, filing and recording of this Agreement, any other Operative
Agreement and any other documents which may be delivered in connection with this
Agreement and (B) on demand, all reasonable costs and expenses (including
reasonable counsel fees and expenses) of the Primary Liquidity Provider in
connection with (i) the enforcement of this Agreement or any other Operative
Agreement, (ii) the modification or amendment of, or supplement to, this
Agreement or any other Operative Agreement or such other documents which may be
delivered in connection herewith or therewith (whether or not the same shall
become effective) or (iii) any action or proceeding relating to any order,
injunction, or other process or decree restraining or seeking to restrain the
Primary Liquidity Provider from paying any amount under this Agreement, the
Intercreditor Agreement or any other Operative Agreement or otherwise affecting
the application of funds in the Class G-2 Cash Collateral Account. In addition,
the Borrower shall pay any and all recording, stamp and other similar taxes and
fees payable or determined to be payable in connection with the execution,
delivery, filing and recording of this Agreement, any other Operative Agreement
and such other documents, and agrees to save the Primary Liquidity Provider
harmless from and against any and all liabilities with respect to or resulting
from any delay in paying or omission to pay such taxes or fees.

            Section 7.08. BINDING EFFECT; PARTICIPATIONS. (a) This Agreement
shall be binding upon and inure to the benefit of the Borrower and the Primary
Liquidity Provider and their respective successors and assigns, except that
neither the Primary Liquidity Provider (except as otherwise provided in this
Section 7.08) nor (except as contemplated by Section 3.08) the Borrower shall
have the right to assign its rights or obligations hereunder or any interest
herein without the prior written consent of the other party, subject to the
requirements of Section 7.08(b). The Primary Liquidity Provider may grant
participations herein or in any of its rights hereunder (including, without
limitation, funded participations and participations in rights to receive
interest payments hereunder) and under the other Operative Agreements to such
Persons (other than Continental and its Affiliates) as the Primary Liquidity
Provider may in its sole discretion select, subject to the requirements of

<PAGE>

Section 7.08(b). No such granting of participations by the Primary Liquidity
Provider, however, will relieve the Primary Liquidity Provider of its
obligations hereunder. In connection with any participation or any proposed
participation, the Primary Liquidity Provider may disclose to the participant or
the proposed participant any information that the Borrower is required to
deliver or to disclose to the Primary Liquidity Provider pursuant to this
Agreement. The Borrower acknowledges and agrees that the Primary Liquidity
Provider's source of funds may derive in part from its participants.
Accordingly, references in this Agreement and the other Operative Agreements to
determinations, reserve and capital adequacy requirements, increased costs,
reduced receipts, additional amounts due pursuant to Section 3.03 and the like
as they pertain to the Primary Liquidity Provider shall be deemed also to
include those of each of its participants that are banks (subject, in each case,
to the maximum amount that would have been incurred by or attributable to the
Primary Liquidity Provider directly if the Primary Liquidity Provider, rather
than the participant, had held the interest participated).

            (b) If, pursuant to subsection (a) above, the Primary Liquidity
Provider sells any participation in this Agreement to any bank or other entity
(each, a "TRANSFEREE"), then, concurrently with the effectiveness of such
participation, the Transferee shall (i) represent to the Primary Liquidity
Provider (for the benefit of the Primary Liquidity Provider and the Borrower)
either (A) that it is incorporated under the laws of the United States or a
state thereof or (B) that under applicable law and treaties, no taxes will be
required to be withheld with respect to any payments to be made to such
Transferee in respect of this Agreement, (ii) furnish to the Primary Liquidity
Provider and the Borrower either (x) a statement that it is incorporated under
the laws of the United States or a state thereof or (y) if it is not so
incorporated, two copies of a properly completed United States Internal Revenue
Service Form W-8ECI or Form W-8BEN, as appropriate, or other applicable form,
certificate or document prescribed by the Internal Revenue Service certifying,
in each case, such Transferee's entitlement to a complete exemption from United
States federal withholding tax in respect to any and all payments to be made
hereunder, and (iii) agree (for the benefit of the Primary Liquidity Provider
and the Borrower) to provide the Primary Liquidity Provider and the Borrower a
new Form W-8ECI or Form W-8BEN, as appropriate, (A) on or before the date that
any such form expires or becomes obsolete or (B) after the occurrence of any
event requiring a change in the most recent form previously delivered by it and
prior to the immediately following due date of any payment by the Borrower
hereunder, certifying in the case of a Form W-8BEN or Form W-8ECI that such
Transferee is entitled to a complete exemption from United States federal
withholding tax on payments under this Agreement. Unless the Borrower has
received forms or other documents reasonably satisfactory to it (and required by
applicable law) indicating that payments hereunder are not subject to United
States federal withholding tax, the Borrower will withhold taxes as required by
law from such payments at the applicable statutory rate.

            (c) Notwithstanding the other provisions of this Section 7.08, the
Primary Liquidity Provider may assign and pledge all or any portion of the
Advances owing to it to any Federal Reserve Bank or the United States Treasury
as collateral security pursuant to Regulation A of the Board of Governors of the
Federal Reserve System and any Operating Circular issued by such Federal Reserve
Bank, provided that any payment in respect of such assigned Advances made by the
Borrower to the Primary Liquidity Provider in accordance with the terms of this
Agreement shall satisfy the Borrower's obligations hereunder in respect of such
assigned Advance to the extent of such payment. No such assignment shall release
the Primary Liquidity Provider from its obligations hereunder.

<PAGE>

            Section 7.09. Third Party Beneficiary. The Policy Provider is an
intended third party beneficiary with respect to the provisions of Sections
2.02(c) and 2.10 of this Agreement.

            Section 7.10. SEVERABILITY. Any provision of this Agreement which is
prohibited, unenforceable or not authorized in any jurisdiction shall, as to
such jurisdiction, be ineffective to the extent of such prohibition,
unenforceability or non-authorization without invalidating the remaining
provisions hereof or affecting the validity, enforceability or legality of such
provision in any other jurisdiction.

            Section 7.11. GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY,
AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

            Section 7.12. SUBMISSION TO JURISDICTION; WAIVER OF JURY TRIAL;
WAIVER OF IMMUNITY. (a) Each of the parties hereto hereby irrevocably and
unconditionally:

            (i) submits for itself and its property in any legal action or
      proceeding relating to this Agreement or any other Operative Agreement, or
      for recognition and enforcement of any judgment in respect hereof or
      thereof, to the nonexclusive general jurisdiction of the courts of the
      State of New York, the courts of the United States of America for the
      Southern District of New York, and the appellate courts from any thereof;

            (ii) consents that any such action or proceeding may be brought in
      such courts, and waives any objection that it may now or hereafter have to
      the venue of any such action or proceeding in any such court or that such
      action or proceeding was brought in an inconvenient court and agrees not
      to plead or claim the same;

            (iii) agrees that service of process in any such action or
      proceeding may be effected by mailing a copy thereof by registered or
      certified mail (or any substantially similar form of mail), postage
      prepaid, to each party hereto at its address set forth in Section 7.02
      hereof, or at such other address of which the Primary Liquidity Provider
      shall have been notified pursuant thereto; and

            (iv) agrees that nothing herein shall affect the right to effect
      service of process in any other manner permitted by law or shall limit the
      right to sue in any other jurisdiction.

            (b) THE BORROWER AND THE PRIMARY LIQUIDITY PROVIDER EACH HEREBY
AGREE TO WAIVE THEIR RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF
ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT OR ANY DEALINGS BETWEEN THEM
RELATING TO THE SUBJECT MATTER OF THIS AGREEMENT AND THE RELATIONSHIP THAT IS
BEING ESTABLISHED, including, without limitation, contract claims, tort claims,
breach of duty claims and all other common law and statutory claims. The
Borrower and the Primary Liquidity Provider each warrant and represent that it
has reviewed this waiver with its legal counsel, and that it knowingly and
voluntarily waives its jury trial rights following consultation with such legal
counsel. THIS WAIVER IS IRREVOCABLE, AND CANNOT BE MODIFIED EITHER ORALLY OR IN

<PAGE>

WRITING, AND THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS,
SUPPLEMENTS OR MODIFICATIONS TO THIS AGREEMENT.

            (c) The Primary Liquidity Provider hereby waives any immunity it may
have from the jurisdiction of the courts of the United States or of any State
and waives any immunity any of its properties located in the United States may
have from attachment or execution upon a judgment entered by any such court
under the United States Foreign Sovereign Immunities Act of 1976 or any similar
successor legislation.

            Section 7.13. EXECUTION IN COUNTERPARTS. This Agreement may be
executed in any number of counterparts and by different parties hereto on
separate counterparts, each of which counterparts, when so executed and
delivered, shall be deemed to be an original and all of which counterparts,
taken together, shall constitute but one and the same Agreement.

            Section 7.14. ENTIRETY. This Agreement, the Intercreditor Agreement
and the other Operative Agreements to which the Primary Liquidity Provider is a
party constitute the entire agreement of the parties hereto with respect to the
subject matter hereof and supersedes all prior understandings and agreements of
such parties.

            Section 7.15. HEADINGS. Section headings in this Agreement are
included herein for convenience of reference only and shall not constitute a
part of this Agreement for any other purpose.

            Section 7.16. TRANSFER. The Primary Liquidity Provider hereby
acknowledges and consents to the Transfer contemplated by the Assignment and
Assumption Agreement.

            Section 7.17. PRIMARY LIQUIDITY PROVIDER'S OBLIGATION TO MAKE
ADVANCES. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, THE OBLIGATIONS OF
THE PRIMARY LIQUIDITY PROVIDER TO MAKE ADVANCES HEREUNDER, AND THE BORROWER'S
RIGHTS TO DELIVER NOTICES OF BORROWING REQUESTING THE MAKING OF ADVANCES
HEREUNDER, SHALL BE UNCONDITIONAL AND IRREVOCABLE, AND SHALL BE PAID OR
PERFORMED, IN EACH CASE STRICTLY IN ACCORDANCE WITH THE TERMS OF THIS AGREEMENT.

<PAGE>

            IN WITNESS WHEREOF, the parties have caused this Agreement to be
duly executed and delivered by their respective officers thereunto duly
authorized as of the date first set forth above.

                           WILMINGTON TRUST COMPANY,
                             not in its individual capacity
                             but solely as Subordination Agent,
                             as agent and trustee for the Class G-2 Trust,
                             as Borrower

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

                           LANDESBANK HESSEN-THURINGEN GIROZENTRALE,
                             as Primary Liquidity Provider

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

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

<PAGE>

                                                                      ANNEX I TO
                                                      REVOLVING CREDIT AGREEMENT

                      INTEREST ADVANCE NOTICE OF BORROWING

            The undersigned, a duly authorized signatory of the undersigned
borrower (the "BORROWER"), hereby certifies to Landesbank Hessen-Thuringen
Girozentrale (the "PRIMARY LIQUIDITY PROVIDER"), with reference to the Revolving
Credit Agreement (2002-1G-2) dated as of March 25, 2002, between the Borrower
and the Primary Liquidity Provider (the "LIQUIDITY AGREEMENT"; the terms defined
therein and not otherwise defined herein being used herein as therein defined or
referenced), that:

            (1) The Borrower is the Subordination Agent under the Intercreditor
      Agreement.

            (2) The Borrower is delivering this Notice of Borrowing for the
      making of an Interest Advance by the Primary Liquidity Provider to be
      used, subject to clause (3)(v) below, for the payment of interest on the
      Class G-2 Certificates which was payable on ____________, ____ (the
      "DISTRIBUTION DATE") in accordance with the terms and provisions of the
      Class G-2 Trust Agreement and the Class G-2 Certificates, which Advance is
      requested to be made on ____________, ____. The Interest Advance should be
      transferred to [name of bank/wire instructions/ABA number] in favor of
      account number [  ], reference [   ].

            (3) The amount of the Interest Advance requested hereby (i) is
      $[_________________], to be applied in respect of the payment of the
      interest which was due and payable on the Class G-2 Certificates on the
      Distribution Date, (ii) does not include any amount with respect to the
      payment of principal of, or premium on, the Class G-2 Certificates, or
      principal of, or interest or premium on, the Class G-1 Certificates, the
      Class H Certificates, the Class I Certificates or the Class J
      Certificates, (iii) was computed in accordance with the provisions of the
      Class G-2 Certificates, the Class G-2 Trust Agreement and the
      Intercreditor Agreement (a copy of which computation is attached hereto as
      Schedule I), (iv) does not exceed the Maximum Available Commitment on the
      date hereof, (v) does not include any amount of interest which was due and
      payable on the Class G-2 Certificates on such Distribution Date but which
      remains unpaid due to the failure of the Depositary to pay any amount of
      accrued interest on the Deposits on such Distribution Date and (vi) has
      not been and is not the subject of a prior or contemporaneous Notice of
      Borrowing.

            (4) Upon receipt by or on behalf of the Borrower of the amount
      requested hereby, (a) the Borrower will apply the same in accordance with
      the terms of Section 3.6(b) of the Intercreditor Agreement, (b) no portion
      of such amount shall be applied by the Borrower for any other purpose and
      (c) no portion of such amount until so applied shall be commingled with
      other funds held by the Borrower.

<PAGE>

            The Borrower hereby acknowledges that, pursuant to the Liquidity
Agreement, the making of the Interest Advance as requested by this Notice of
Borrowing shall automatically reduce, subject to reinstatement in accordance
with the terms of the Liquidity Agreement, the Maximum Available Commitment by
an amount equal to the amount of the Interest Advance requested to be made
hereby as set forth in clause (i) of paragraph (3) of this Notice of Borrowing
and such reduction shall automatically result in corresponding reductions in the
amounts available to be borrowed pursuant to a subsequent Advance.

            IN WITNESS WHEREOF, the Borrower has executed and delivered this
Notice of Borrowing as of the ____ day of _________, ____.

                           WILMINGTON TRUST COMPANY,
                             not in its individual capacity but solely as
                             Subordination Agent, as Borrower

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

<PAGE>

               SCHEDULE I TO INTEREST ADVANCE NOTICE OF BORROWING

                 [Insert copy of computations in accordance with
                     Interest Advance Notice of Borrowing]

<PAGE>

                                                                     ANNEX II TO
                                                      REVOLVING CREDIT AGREEMENT

                   NON-EXTENSION ADVANCE NOTICE OF BORROWING

            The undersigned, a duly authorized signatory of the undersigned
borrower (the "BORROWER"), hereby certifies to Landesbank Hessen-Thuringen
Girozentrale (the "PRIMARY LIQUIDITY PROVIDER"), with reference to the Revolving
Credit Agreement (2002-1G-2) dated as of March 25, 2002, between the Borrower
and the Primary Liquidity Provider (the "LIQUIDITY AGREEMENT"; the terms defined
therein and not otherwise defined herein being used herein as therein defined or
referenced), that:

            (1) The Borrower is the Subordination Agent under the Intercreditor
      Agreement.

            (2) The Borrower is delivering this Notice of Borrowing for the
      making of the Non-Extension Advance by the Primary Liquidity Provider to
      be used for the funding of the Class G-2 Cash Collateral Account in
      accordance with Section 3.6(d) of the Intercreditor Agreement, which
      Advance is requested to be made on __________, ____. The Non-Extension
      Advance should be transferred to [name of bank/wire instructions/ABA
      number] in favor of account number [  ], reference [         ].

            (3) The amount of the Non-Extension Advance requested hereby (i) is
      $_______________.__, which equals the Maximum Available Commitment on the
      date hereof and is to be applied in respect of the funding of the Class
      G-2 Cash Collateral Account in accordance with Section 3.6(d) of the
      Intercreditor Agreement, (ii) does not include any amount with respect to
      the payment of the principal of, or premium on, the Class G-2
      Certificates, or principal of, or interest or premium on, the Class G-1
      Certificates, the Class H Certificates, the Class I Certificates or the
      Class J Certificates, (iii) was computed in accordance with the provisions
      of the Class G-2 Certificates, the Class G-2 Trust Agreement and the
      Intercreditor Agreement (a copy of which computation is attached hereto as
      Schedule I), and (iv) has not been and is not the subject of a prior or
      contemporaneous Notice of Borrowing under the Liquidity Agreement.

            (4) Upon receipt by or on behalf of the Borrower of the amount
      requested hereby, (a) the Borrower will deposit such amount in the Class
      G-2 Cash Collateral Account and apply the same in accordance with the
      terms of Section 3.6(d) of the Intercreditor Agreement, (b) no portion of
      such amount shall be applied by the Borrower for any other purpose and (c)
      no portion of such amount until so applied shall be commingled with other
      funds held by the Borrower.

            The Borrower hereby acknowledges that, pursuant to the Liquidity
Agreement, (A) the making of the Non-Extension Advance as requested by this
Notice of Borrowing shall automatically and irrevocably terminate the obligation
of the Primary Liquidity Provider to make further Advances under the Liquidity
Agreement; and (B) following the making by the Primary Liquidity Provider of the
Non-Extension Advance requested by this Notice of Borrowing, the Borrower shall
not be entitled to request any further Advances under the Liquidity Agreement.

<PAGE>

            IN WITNESS WHEREOF, the Borrower has executed and delivered this
Notice of Borrowing as of the ____ day of _________, ____.

                           WILMINGTON TRUST COMPANY,
                             not in its individual capacity but solely as
                             Subordination Agent, as Borrower

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

<PAGE>

             SCHEDULE I TO NON-EXTENSION ADVANCE NOTICE OF BORROWING

                [Insert copy of computations in accordance with
                   Non-Extension Advance Notice of Borrowing]

<PAGE>

                                                                    ANNEX III TO
                                                      REVOLVING CREDIT AGREEMENT

                      DOWNGRADE ADVANCE NOTICE OF BORROWING

            The undersigned, a duly authorized signatory of the undersigned
borrower (the "BORROWER"), hereby certifies to Landesbank Hessen-Thuringen
Girozentrale (the "PRIMARY LIQUIDITY PROVIDER"), with reference to the Revolving
Credit Agreement (2002-1G-2) dated as of March 25, 2002, between the Borrower
and the Primary Liquidity Provider (the "LIQUIDITY AGREEMENT"; the terms defined
therein and not otherwise defined herein being used herein as therein defined or
referenced), that:

            (1) The Borrower is the Subordination Agent under the Intercreditor
      Agreement.

            (2) The Borrower is delivering this Notice of Borrowing for the
      making of the Downgrade Advance by the Primary Liquidity Provider to be
      used for the funding of the Class G-2 Cash Collateral Account in
      accordance with Section 3.6(c) of the Intercreditor Agreement by reason of
      the occurrence of a Downgrade Event, which Advance is requested to be made
      on __________, ____. The Downgrade Advance should be transferred to [name
      of bank/wire instructions/ABA number] in favor of account number [  ],
      reference [        ].

            (3) The amount of the Downgrade Advance requested hereby (i) is
      $_______________.__, which equals the Maximum Available Commitment on the
      date hereof and is to be applied in respect of the funding of the Class
      G-2 Cash Collateral Account in accordance with Section 3.6(c) of the
      Intercreditor Agreement, (ii) does not include any amount with respect to
      the payment of the principal of, or premium on, the Class G-2
      Certificates, or principal of, or interest or premium on, the Class G-1
      Certificates, the Class H Certificates, the Class I Certificates or the
      Class J Certificates, (iii) was computed in accordance with the provisions
      of the Class G-2 Certificates, the Class G-2 Trust Agreement and the
      Intercreditor Agreement (a copy of which computation is attached hereto as
      Schedule I), and (iv) has not been and is not the subject of a prior or
      contemporaneous Notice of Borrowing under the Liquidity Agreement.

            (4) Upon receipt by or on behalf of the Borrower of the amount
      requested hereby, (a) the Borrower will deposit such amount in the Class
      G-2 Cash Collateral Account and apply the same in accordance with the
      terms of Section 3.6(c) of the Intercreditor Agreement, (b) no portion of
      such amount shall be applied by the Borrower for any other purpose and (c)
      no portion of such amount until so applied shall be commingled with other
      funds held by the Borrower.

            The Borrower hereby acknowledges that, pursuant to the Liquidity
Agreement, (A) the making of the Downgrade Advance as requested by this Notice
of Borrowing shall automatically and irrevocably terminate the obligation of the
Primary Liquidity Provider to make further Advances under the Liquidity
Agreement; and (B) following the making by the Primary Liquidity Provider of the

<PAGE>

Downgrade Advance requested by this Notice of Borrowing, the Borrower shall not
be entitled to request any further Advances under the Liquidity Agreement.

            IN WITNESS WHEREOF, the Borrower has executed and delivered this
Notice of Borrowing as of the ____ day of _________, ____.

                           WILMINGTON TRUST COMPANY,
                             not in its individual capacity but solely as
                             Subordination Agent, as Borrower

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

<PAGE>

               SCHEDULE I TO DOWNGRADE ADVANCE NOTICE OF BORROWING

                [Insert copy of computations in accordance with
                     Downgrade Advance Notice of Borrowing]

<PAGE>

                                                                     ANNEX IV TO
                                                      REVOLVING CREDIT AGREEMENT

                        FINAL ADVANCE NOTICE OF BORROWING

            The undersigned, a duly authorized signatory of the undersigned
borrower (the "BORROWER"), hereby certifies to Landesbank Hessen-Thuringen
Girozentrale (the "PRIMARY LIQUIDITY PROVIDER"), with reference to the Revolving
Credit Agreement (2002-1G-2) dated as of March 25, 2002, between the Borrower
and the Primary Liquidity Provider (the "LIQUIDITY AGREEMENT"; the terms defined
therein and not otherwise defined herein being used herein as therein defined or
referenced), that:

            (1) The Borrower is the Subordination Agent under the Intercreditor
      Agreement.

            (2) The Borrower is delivering this Notice of Borrowing for the
      making of the Final Advance by the Primary Liquidity Provider to be used
      for the funding of the Class G-2 Cash Collateral Account in accordance
      with Section 3.6(i) of the Intercreditor Agreement by reason of the
      receipt by the Borrower of a Termination Notice from the Primary Liquidity
      Provider with respect to the Liquidity Agreement, which Advance is
      requested to be made on ____________, ____. The Final Advance should be
      transferred to [name of bank/wire instructions/ABA number] in favor of
      account number [  ], reference [        ].

            (3) The amount of the Final Advance requested hereby (i) is
      $_________________.__, which equals the Maximum Available Commitment on
      the date hereof and is to be applied in respect of the funding of the
      Class G-2 Cash Collateral Account in accordance with Section 3.6(i) of the
      Intercreditor Agreement, (ii) does not include any amount with respect to
      the payment of principal of, or premium on, the Class G-2 Certificates, or
      principal of, or interest or premium on, the Class G-1 Certificates, the
      Class H Certificates, the Class I Certificates or the Class J
      Certificates, (iii) was computed in accordance with the provisions of the
      Class G-2 Certificates, the Class G-2 Trust Agreement and the
      Intercreditor Agreement (a copy of which computation is attached hereto as
      Schedule I), and (iv) has not been and is not the subject of a prior or
      contemporaneous Notice of Borrowing.

            (4) Upon receipt by or on behalf of the Borrower of the amount
      requested hereby, (a) the Borrower will deposit such amount in the Class
      G-2 Cash Collateral Account and apply the same in accordance with the
      terms of Section 3.6(i) of the Intercreditor Agreement, (b) no portion of
      such amount shall be applied by the Borrower for any other purpose and (c)
      no portion of such amount until so applied shall be commingled with other
      funds held by the Borrower.

<PAGE>

            (5) The Borrower hereby requests that the Advance requested hereby
      be a Base Rate Advance [and that such Base Rate Advance be converted into
      a LIBOR Advance on the third Business Day following your receipt of this
      notice.]<F1>

            The Borrower hereby acknowledges that, pursuant to the Liquidity
Agreement, (A) the making of the Final Advance as requested by this Notice of
Borrowing shall automatically and irrevocably terminate the obligation of the
Primary Liquidity Provider to make further Advances under the Liquidity
Agreement; and (B) following the making by the Primary Liquidity Provider of the
Final Advance requested by this Notice of Borrowing, the Borrower shall not be
entitled to request any further Advances under the Liquidity Agreement.

            IN WITNESS WHEREOF, the Borrower has executed and delivered this
Notice of Borrowing as of the ____ day of _________, ____.

                           WILMINGTON TRUST COMPANY,
                             not in its individual capacity but solely as
                             Subordination Agent, as Borrower

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

-----------------------------
<F1>
Bracketed language may be included at Borrower's option.

<PAGE>

                 SCHEDULE I TO FINAL ADVANCE NOTICE OF BORROWING

                [Insert copy of computations in accordance with
                       Final Advance Notice of Borrowing]

<PAGE>

                                                                      ANNEX V TO
                                                      REVOLVING CREDIT AGREEMENT

                              NOTICE OF TERMINATION

                                         [Date]

Wilmington Trust Company,
 as Subordination Agent, as Borrower
Rodney Square North
1100 North Market Square
Wilmington, DE 19890-0001

Attention:  Corporate Trust Administration

      Revolving Credit Agreement dated as of March 25, 2002 between Wilmington
      Trust Company, as Subordination Agent, as agent and trustee for the
      Continental Airlines Pass Through Trust, 2002-1G-2-[O/S], as Borrower, and
      Landesbank Hessen-Thuringen Girozentrale (the "LIQUIDITY AGREEMENT")

Ladies and Gentlemen:

You are hereby notified that pursuant to Section 6.01 of the Liquidity
Agreement, by reason of the occurrence of a Liquidity Event of Default and the
existence of a Performing Note Deficiency (each as defined therein), we are
giving this notice to you in order to cause (i) our obligations to make Advances
(as defined therein) under such Liquidity Agreement to terminate on the fifth
Business Day after the date on which you receive this notice and (ii) you to
request a Final Advance under the Liquidity Agreement pursuant to Section 3.6(i)
of the Intercreditor Agreement (as defined in the Liquidity Agreement) as a
consequence of your receipt of this notice.

<PAGE>

            THIS NOTICE IS THE "NOTICE OF TERMINATION" PROVIDED FOR UNDER THE
LIQUIDITY AGREEMENT. OUR OBLIGATIONS TO MAKE ADVANCES UNDER THE LIQUIDITY
AGREEMENT WILL TERMINATE ON THE FIFTH BUSINESS DAY AFTER THE DATE ON WHICH YOU
RECEIVE THIS NOTICE.

                           Very truly yours,

                           LANDESBANK HESSEN-THURINGEN GIROZENTRALE
                             as Primary Liquidity Provider

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

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

cc:  Wilmington Trust Company,
        as Class G-2 Trustee

<PAGE>

                                                                     ANNEX VI TO
                                                      REVOLVING CREDIT AGREEMENT

                    NOTICE OF REPLACEMENT SUBORDINATION AGENT

[Date]
Attention:

      Revolving Credit Agreement dated as of March 25, 2002, between Wilmington
      Trust Company, as Subordination Agent, as agent and trustee for the
      Continental Airlines Pass Through Trust, 2002-1G-2-[O/S], as Borrower, and
      Landesbank Hessen-Thuringen Girozentrale (the "LIQUIDITY AGREEMENT")

Ladies and Gentlemen:

            For value received, the undersigned beneficiary hereby irrevocably
transfers to:

                         ------------------------------
                              [Name of Transferee]

                         ------------------------------
                             [Address of Transferee]

all rights and obligations of the undersigned as Borrower under the Liquidity
Agreement referred to above. The transferee has succeeded the undersigned as
Subordination Agent under the Intercreditor Agreement referred to in the first
paragraph of the Liquidity Agreement, pursuant to the terms of Section 8.1 of
the Intercreditor Agreement.

            By this transfer, all rights of the undersigned as Borrower under
the Liquidity Agreement are transferred to the transferee and the transferee
shall hereafter have the sole rights and obligations as Borrower thereunder. The
undersigned shall pay any costs and expenses of such transfer, including, but
not limited to, transfer taxes or governmental charges.

<PAGE>

            We ask that this transfer be effective as of _______________, ____.

                           WILMINGTON TRUST COMPANY,
                             not in its individual capacity but solely as
                             Subordination Agent, as Borrower

                           By:
                              -----------------------------------------
                              Name:
                              Title:ISDA(R)
                  INTERNATIONAL SWAP DEALERS ASSOCIATION, INC.

                                MASTER AGREEMENT

                           DATED AS OF MARCH 25, 2002

Merrill Lynch Capital Services, Inc. and Wilmington Trust Company, in its
capacity as Subordination Agent on behalf of the Trustee under the Class G-1
Trust Agreement have entered and/or anticipate entering into one or more
transactions (each a "Transaction") that are or will be governed by this Master
Agreement, which includes the schedule (the "Schedule"), and the documents and
other confirming evidence (each a "Confirmation") exchanged between the parties
confirming those Transactions.

Accordingly, the parties agree as follows:--

1.    INTERPRETATION

(a)   DEFINITIONS. The terms defined in Section 14 and in the Schedule will have
the meanings therein specified for the purpose of this Master Agreement.

(b)   INCONSISTENCY. In the event of any inconsistency between the provisions of
the Schedule and the other provisions of this Master Agreement, the Schedule
will prevail. In the event of any inconsistency between the provisions of any
Confirmation and this Master Agreement (including the Schedule), such
Confirmation will prevail for the purpose of the relevant Transaction.

(c)   SINGLE AGREEMENT. All Transactions are entered into in reliance on the
fact that this Master Agreement and all Confirmations form a single agreement
between the parties (collectively referred to as this "Agreement"), and the
parties would not otherwise enter into any Transactions.

2.    OBLIGATIONS

(a)   GENERAL CONDITIONS.

      (i) Each party will make each payment or delivery specified in each
      Confirmation to be made by it, subject to the other provisions of this
      Agreement.

      (ii) Payments under this Agreement will be made on the due date for value
      on that date in the place of the account specified in the relevant
      Confirmation or otherwise pursuant to this Agreement, in freely
      transferable funds and in the manner customary for payments in the
      required currency. Where settlement is by delivery (that is, other than by

<PAGE>

      payment), such delivery will be made for receipt on the due date in the
      manner customary for the relevant obligation unless otherwise specified in
      the relevant Confirmation or elsewhere in this Agreement.

      (iii) Each obligation of each party under Section 2(a)(i) is subject to
      (1) the condition precedent that no Event of Default or Potential Event of
      Default with respect to the other party has occurred and is continuing,
      (2) the condition precedent that no Early Termination Date in respect of
      the relevant Transaction has occurred or been effectively designated and
      (3) each other applicable condition precedent specified in this Agreement.

(b)   CHANGE OF ACCOUNT. Either party may change its account for receiving a
payment or delivery by giving notice to the other party at least five Local
Business Days prior to the scheduled date for the payment or delivery to which
such change applies unless such other party gives timely notice of a reasonable
objection to such change.

(c)   NETTING. If on any date amounts would otherwise be payable:--

      (i) in the same currency; and

      (ii) in respect of the same Transaction.

by each party to the other, then, on such date, each party's obligation to make
payment of any such amount will be automatically satisfied and discharged and,
if the aggregate amount that would otherwise have been payable by one party
exceeds the aggregate amount that would otherwise have been payable by the other
party, replaced by an obligation upon the party by whom the larger aggregate
amount would have been payable to pay to the other party the excess of the
larger aggregate amount over the smaller aggregate amount.

The parties may elect in respect of two or more Transactions that a net amount
will be determined in respect of all amounts payable on the same date in the
same currency in respect of such Transactions, regardless of whether such
amounts are payable in respect of the same Transaction. The election may be made
in the Schedule or a Confirmation by specifying that subparagraph (ii) above
will not apply to the Transactions identified as being subject to the election,
together with the starting date (in which case subparagraph (ii) above will not,
or will cease to, apply to such Transactions from such date). This election may
be made separately for different groups of Transactions and will apply
separately to each pairing of Offices through which the parties make and receive
payments or deliveries.

(d)   DEDUCTION OR WITHHOLDING FOR TAX.

      (i)  GROSS-UP. All payments under this Agreement will be made without any
      deduction or withholding for or on account of any Tax unless such
      deduction or withholding is required by any applicable law, as modified by
      the practice of any relevant governmental revenue authority, then in
      effect. If a party is so required to deduct or withhold, then that party
      ("X") will:--

            (1) promptly notify the other party ("Y") of such requirement;

<PAGE>

            (2) pay to the relevant authorities the full amount required to be
            deducted or withheld (including the full amount required to be
            deducted or withheld from any additional amount paid by X to Y under
            this Section 2(d)) promptly upon the earlier of determining that
            such deduction or withholding is required or receiving notice that
            such amount has been assessed against Y;

            (3) promptly forward to Y an official receipt (or a certified copy),
            or other documentation reasonably acceptable to Y, evidencing such
            payment to such authorities; and

            (4) if such Tax is an Indemnifiable Tax, pay to Y, in addition to
            the payment to which Y is otherwise entitled under this Agreement,
            such additional amount as is necessary to ensure that the net amount
            actually received by Y (free and clear of Indemnifiable Taxes,
            whether assessed against X or Y) will equal the full amount Y would
            have received had no such deduction or withholding been required.
            However, X will not be required to pay any additional amount to Y to
            the extent that it would not be required to be paid but for:--

                  (A) the failure by Y to comply with or perform any agreement
                  contained in Section 4(a)(i), 4(a)(iii) or 4(d); or

                  (B) the failure of a representation made by Y pursuant to
                  Section 3(f) to be accurate and true unless such failure would
                  not have occurred but for (I) any action taken by a taxing
                  authority, or brought in a court of competent jurisdiction, on
                  or after the date on which a Transaction is entered into
                  (regardless of whether such action is taken or brought with
                  respect to a party to this Agreement) or (II) a Change in Tax
                  Law.

      (ii)  LIABILITY. If:--

            (1) X is required by any applicable law, as modified by the practice
            of any relevant governmental revenue authority, to make any
            deduction or withholding in respect of which X would not be required
            to pay an additional amount to Y under Section 2(d)(i)(4);

            (2) X does not so deduct or withhold; and

            (3) a liability resulting from such Tax is assessed directly against
            X.

      then, except to the extent Y has satisfied or then satisfies the liability
      resulting from such Tax, Y will promptly pay to X the amount of such
      liability (including any related liability for interest, but including any
      related liability for penalties only if Y has failed to comply with or
      perform any agreement contained in Section 4(a)(i), 4(a)(iii) or 4(d)).

(e)   DEFAULT INTEREST; OTHER AMOUNTS. Prior to the occurrence or effective
designation of an Early Termination Date in respect of the relevant Transaction,
a party that defaults in the performance of any payment obligation will, to the
extent permitted by law and subject to Section 6(c), be required to pay interest
(before as well as after judgment) on the overdue amount to the other party on

<PAGE>

demand in the same currency as such overdue amount, for the period from (and
including) the original due date for payment to (but excluding) the date of
actual payment, at the Default Rate. Such interest will be calculated on the
basis of daily compounding and the actual number of days elapsed. If, prior to
the occurrence or effective designation of an Early Termination Date in respect
of the relevant Transaction, a party defaults in the performance of any
obligation required to be settled by delivery, it will compensate the other
party on demand if and to the extent provided for in the relevant Confirmation
or elsewhere in this Agreement.

3.    REPRESENTATIONS

Each party represents to the other party (which representations will be deemed
to be repeated by each party on each date on which a Transaction is entered into
and, is the case of the representations in Section 3(f), at all times until the
termination of this Agreement) that:--

(a)   BASIC REPRESENTATIONS.

      (i) STATUS. It is duly organised and validly existing under the laws of
      the jurisdiction of its organisation or incorporation and, if relevant
      under such laws, in good standing;

      (ii) POWERS. It has the power to execute this Agreement and any other
      documentation relating to this Agreement to which it is a party, to
      deliver this Agreement and any other documentation relating to this
      Agreement that it is required by this Agreement to deliver and to perform
      its obligations under this Agreement and any obligations it has under any
      Credit Support Document to which it is a party and has taken all necessary
      action to authorise such execution, delivery and performance;

      (iii) NO VIOLATION OR CONFLICT. Such execution, delivery and performance
      do not violate or conflict with any law applicable to it, any provision of
      its constitutional documents, any order or judgment of any court or other
      agency of government applicable to it or any of its assets or any
      contractual restriction binding on or affecting it or any of its assets;

      (iv) CONSENTS. All governmental and other consents that are required to
      have been obtained by it with respect to this Agreement or any Credit
      Support Document to which it is a party have been obtained and are in full
      force and effect and all conditions of any such consents have been
      complied with; and

      (v) OBLIGATIONS BINDING. Its obligations under this Agreement and any
      Credit Support Document to which it is a party constitute its legal, valid
      and binding obligations, enforceable in accordance with their respective
      terms (subject to applicable bankruptcy, reorganisation, insolvency,
      moratorium or similar laws affecting creditors' rights generally and
      subject, as to enforceability, to equitable principles of general
      application (regardless of whether enforcement is sought in a proceeding
      in equity or at law)).

<PAGE>

(b)   ABSENCE OF CERTAIN EVENTS. No Event of Default or Potential Event of
Default or, to its knowledge, Termination Event with respect to it has occurred
and is continuing and no such event or circumstance would occur as a result of
its entering into or performing its obligations under this Agreement or any
Credit Support Document to which it is a party.

(c)   ABSENCE OF LITIGATION. There is not pending or, to its knowledge,
threatened against it or any of its Affiliates any action, suit or proceeding
at law or in equity or before any court, tribunal, governmental body, agency or
official or any arbitrator that is likely to affect the legality, validity or
enforceability against it of this Agreement or any Credit Support Document to
which it is a party or its ability to perform its obligations under this
Agreement or such Credit Support Document.

(d)   ACCURACY OF SPECIFIED INFORMATION. All applicable information that is
furnished in writing by or on behalf of it to the other party and is identified
for the purpose of this Section 3(d) in the Schedule is, as of the date of the
information, true, accurate and complete in every material respect.

(e)   PAYER TAX  REPRESENTATION.  Each representation specified in the Schedule
as being made by it for the purpose of this Section 3(e) is accurate and true.

(f)   PAYEE TAX  REPRESENTATIONS. Each representation specified in the Schedule
as being made by it for the purpose of this Section 3(f) is accurate and true.

4.    AGREEMENTS

Each party agrees with the other that, so long as either parry has or may have
any obligation under this Agreement or under any Credit Support Document to
which it is a party:--

(a)   FURNISH  SPECIFIED  INFORMATION.  It  will deliver to the other party or,
in certain cases under subparagraph (iii) below, to such government or taxing
authority as the other party reasonably directs:--

      (i) any forms, documents or certificates relating to taxation specified in
      the Schedule or any Confirmation;

      (ii) any other documents specified in the Schedule or any Confirmation;
      and

      (iii) upon reasonable demand by such other party, any form or document
      that may be required or reasonably requested in writing in order to allow
      such other party or its Credit Support Provider to make a payment under
      this Agreement or any applicable Credit Support Document without any
      deduction or withholding for or on account of any Tax or with such
      deduction or withholding at a reduced rate (so long as the completion,
      execution or submission of such form or document would not materially
      prejudice the legal or commercial position of the party in receipt of such
      demand), with any such form or document to be accurate and completed in a
      manner reasonably satisfactory to such other party and to be executed and
      to be delivered with any reasonably required certification.

<PAGE>

in each case by the date specified in the Schedule or such Confirmation or, if
none is specified, as soon as reasonably practicable.

(b)   MAINTAIN AUTHORISATIONS. It will use all reasonable efforts to maintain in
full force and effect all consents of any governmental or other authority that
are required to be obtained by it with respect to this Agreement or any Credit
Support Document to which it is a party and will use all reasonable efforts to
obtain any that may become necessary in the future.

(c)   COMPLY WITH LAWS. It will comply in all material respects with all
applicable laws and orders to which it may be subject if failure so to comply
would materially impair its ability to perform its obligations under this
Agreement or any Credit Support Document to which it is a party.

(d)   TAX  AGREEMENT.  It will give notice of any failure of a representation
made by it under Section 3(f) to be accurate and true promptly upon learning of
such failure.

(e)   PAYMENT OF STAMP TAX. Subject to Section 11, it will pay any Stamp Tax
levied or imposed upon it or in respect of its execution or performance of this
Agreement by a jurisdiction in which it is incorporated, organised, managed and
controlled, or considered to have its seat, or is which a branch or office
through which it is acting for the purpose of this Agreement is located ("Stamp
Tax Jurisdiction") and will indemnify the other party against any Stamp Tax
levied or imposed upon the other party in respect of the other party's execution
or performance of this Agreement by any such Stamp Tax Jurisdiction which is not
also a Stamp Tax Jurisdiction with respect to the other party.

5.    EVENTS OF DEFAULT AND TERMINATION EVENTS

(a)   EVENTS OF DEFAULT. The occurrence at any time with respect to a party or,
if  applicable, any Credit Support  Provider of  such  party or  any  Specified
Entity of such party of any of the following events constitutes an event of
default (an "Event of Default") with respect to such party:--

      (i) FAILURE TO PAY OR DELIVER. Failure by the party to make, when due, any
      payment under this Agreement or delivery under Section 2(a)(i) or 2(e)
      required to be made by it if such failure is not remedied on or before the
      third Local Business Day after notice of such failure is given to the
      party;

      (ii) BREACH OF AGREEMENT. Failure by the party to comply with or perform
      any agreement or obligation (other than an obligation to make any payment
      under this Agreement or delivery under Section 2(a)(i) or 2(e) or to give
      notice of a Termination Event or any agreement or obligation under Section
      4(a)(i), 4(a)(iii) or 4(d)) to be complied with or performed by the party
      in accordance with this Agreement if such failure is not remedied on or
      before the thirtieth day after notice of such failure is given to the
      party;

<PAGE>

      (iii) CREDIT SUPPORT DEFAULT.

            (1) Failure by the party or any Credit Support Provider of such
            party to comply with or perform any agreement or obligation to be
            complied with or performed by it in accordance with any Credit
            Support Document if such failure is continuing after any applicable
            grace period has elapsed;

            (2) the expiration or termination of such Credit Support Document or
            the failing or ceasing of such Credit Support Document to be in full
            force and effect for the purpose of this Agreement (in either case
            other than in accordance with its terms) prior to the satisfaction
            of all obligations of such party under each Transaction to which
            such Credit Support Document relates without the written consent of
            the other party; or

            (3) the party or such Credit Support Provider disaffirms, disclaims,
            repudiates or rejects, in whole or in part, or challenges the
            validity of, such Credit Support Document;

      (iv)  MISREPRESENTATION. A representation (other than a representation
      under Section 3(e) or (f)) made or repeated or deemed to have been made or
      repeated by the party or any Credit Support Provider of such party in this
      Agreement or any Credit Support Document proves to have been incorrect or
      misleading in any material respect when made or repeated or deemed to have
      been made or repeated;

      (v) DEFAULT UNDER SPECIFIED TRANSACTION. The party, any Credit Support
      Provider of such party or any applicable Specified Entity of such party
      (1) defaults under a Specified Transaction and, after giving effect to any
      applicable notice requirement or grace period, there occurs a liquidation
      of, an acceleration of obligations under, or an early termination of, that
      Specified Transaction, (2) defaults, after giving effect to any applicable
      notice requirement or grace period, in making any payment or delivery due
      on the last payment, delivery or exchange date of, or any payment on early
      termination of, a Specified Transaction (or such default continues for at
      least three Local Business Days if there is no applicable notice
      requirement or grace period) or (3) disaffirms, disclaims, repudiates or
      rejects, in whole or in part, a Specified Transaction (or such action is
      taken by any person or entity appointed or empowered to operate it or act
      on its behalf);

      (vi) CROSS DEFAULT. If "Cross Default" is specified in the Schedule as
      applying to the party, the occurrence or existence of (l) a default, event
      of default or other similar condition or event (however described) in
      respect of such party, any Credit Support Provider of such party or any
      applicable Specified Entity of such party under one or more agreements or
      instruments relating to Specified Indebtedness of any of them
      (individually or collectively) in an aggregate amount of not less than the
      applicable Threshold Amount (as specified in the Schedule) which has
      resulted in such Specified Indebtedness becoming, or becoming capable at
      such time of being declared, due and payable under such agreements or
      instruments, before it would otherwise have been due and payable or (2) a
      default by such party, such Credit Support Provider or such Specified

<PAGE>

      Entity (individually or collectively) in making one or more payments on
      the due date thereof in an aggregate amount of not less than the
      applicable Threshold Amount under such agreements or instruments (after
      giving effect to any applicable notice requirement or grace period);

      (vii) BANKRUPTCY. The party, any Credit Support Provider of such party or
      any applicable Specified Entity of such party:--

            (1) is dissolved (other than pursuant to a consolidation,
            amalgamation or merger); (2) becomes insolvent or is unable to pay
            its debts or fails or admits in writing its inability generally to
            pay its debts as they become due; (3) makes a general assignment.
            arrangement or composition with or for the benefit of its creditors;
            (4) institutes or has instituted against it a proceeding seeking a
            judgment of insolvency or bankruptcy or any other relief under any
            bankruptcy or insolvency law or other similar law affecting
            creditors' rights, or a petition is presented for its winding-up or
            liquidation, and, in the case of any such proceeding or petition
            instituted or presented against it, such proceeding or petition (A)
            results in a judgment of insolvency or bankruptcy or the entry of an
            order for relief or the making of an order for its winding-up or
            liquidation or (B) is not dismissed, discharged, stayed or
            restrained in each case within 30 days of the institution or
            presentation thereof; (5) has a resolution passed for its
            winding-up, official management or liquidation (other than pursuant
            to a consolidation. amalgamation or merger); (6) seeks or becomes
            subject to the appointment of an administrator, provisional
            liquidator, conservator, receiver, trustee, custodian or other
            similar official for it or for all or substantially all its assets;
            (7) has a secured party take possession of all or substantially all
            its assets or has a distress, execution, attachment, sequestration
            or other legal process levied, enforced or sued on or against all or
            substantially all its assets and such secured party maintains
            possession, or any such process is not dismissed, discharged, stayed
            or restrained, in each case within 30 days thereafter; (8) causes or
            is subject to any event with respect to it which, under the
            applicable laws of any jurisdiction, has an analogous effect to any
            of the events specified in clauses (1) to (7) (inclusive); or (9)
            takes any action in furtherance of, or indicating its consent to,
            approval of, or acquiescence in, any of the foregoing acts; or

      (viii) MERGER WITHOUT ASSUMPTION. The party or any Credit Support Provider
      of such party consolidates or amalgamates with, or merges with or into, or
      transfers all or substantially all its assets to, another entity and, at
      the time of such consolidation, amalgamation, merger or transfer:--

            (1) the resulting, surviving or transferee entity fails to assume
            all the obligations of such party or such Credit Support Provider
            under this Agreement or any Credit Support Document to which it or
            its predecessor was a party by operation of law or pursuant to an
            agreement reasonably satisfactory to the other party to this
            Agreement; or

<PAGE>

            (2) the benefits of any Credit Support Document fail to extend
            (without the consent of the other party) to the performance by such
            resulting, surviving or transferee entity of its obligations under
            this Agreement.

(b)   TERMINATION EVENTS. The occurrence at any time with respect to a party or,
if applicable, any Credit Support Provider of such party or any Specified Entity
of such party of any event specified below constitutes an Illegality if the
event is specified in (i) below, a Tax Event if the event is specified in (ii)
below or a Tax Event Upon Merger if the event is specified in (iii) below, and,
if specified to be applicable, a Credit Event Upon Merger if the event is
specified pursuant to (iv) below or an Additional Termination Event if the event
is specified pursuant to (v) below:--

      (i) ILLEGALITY. Due to the adoption of, or any change in, any applicable
      law after the date on which a Transaction is entered into, or due to the
      promulgation of, or any change in, the interpretation by any court,
      tribunal or regulatory authority with competent jurisdiction of any
      applicable law after such date, it becomes unlawful (other than as a
      result of a breach by the party of Section 4(b)) for such party (which
      will be the Affected Party):--

                  (1) to perform any absolute or contingent obligation to make a
                  payment or delivery or to receive a payment or delivery in
                  respect of such Transaction or to comply with any other
                  material provision of this Agreement relating to such
                  Transaction; or

                  (2) to perform, or for any Credit Support Provider of such
                  party to perform, any contingent or other obligation which the
                  party (or such Credit Support Provider) has under any Credit
                  Support Document relating to such Transaction;

         (ii) TAX EVENT. Due to (x) any action taken by a taxing authority, or
         brought in a court of competent jurisdiction, on or after the date on
         which a Transaction is entered into (regardless of whether such action
         is taken or brought with respect to a party to this Agreement) or (y) a
         Change in Tax Law, the party (which will be the Affected Party) will,
         or there is a substantial likelihood that it will, on the next
         succeeding Scheduled Payment Date (1) be required to pay to the other
         party an additional amount in respect of an Indemnifiable Tax under
         Section 2(d)(i)(4) (except in respect of interest under Section 2(e),
         6(d)(ii) or 6(e)) or (2) receive a payment from which an amount is
         required to be deducted or withheld for or on account of a Tax (except
         in respect of interest under Section 2(e), 6(d)(ii) or 6(e)) and no
         additional amount is required to be paid in respect of such Tax under
         Section 2(d)(i)(4) (other than by reason of Section 2(d)(i)(4)(A) or
         (B));

         (iii) TAX EVENT UPON MERGER. The party (the "Burdened Party") on the
         next succeeding Scheduled Payment Date will either (1) be required to
         pay an additional amount in respect of an Indemnifiable Tax under

<PAGE>

         Section 2(d)(i)(4) (except in respect of interest under Section 2(e),
         6(d)(ii) or 6(e)) or (2) receive a payment from which an amount has
         been deducted or withheld for or on account of any Indemnifiable Tax in
         respect of which the other party is not required to pay an additional
         amount (other than by reason of Section 2(d)(i)(4)(A) or (B)), in
         either case as a result of a party consolidating or amalgamating with,
         or merging with or into, or transferring all or substantially all its
         assets to, another entity (which will be the Affected Party) where such
         action does not constitute an event described in Section 5(a)(viii);

         (iv) CREDIT EVENT UPON MERGER. If "Credit Event Upon Merger" is
         specified in the Schedule as applying to the party, such party ("X"),
         any Credit Support Provider of X or any applicable Specified Entity of
         X consolidates or amalgamates with, or merges with or into, or
         transfers all or substantially all its assets to, another entity and
         such action does not constitute an event described in Section
         5(a)(viii) but the creditworthiness of the resulting, surviving or
         transferee entity is materially weaker than that of X, such Credit
         Support Provider or such Specified Entity, as the case may be,
         immediately prior to such action (and, in such event, X or its
         successor or transferee, as appropriate, will be the Affected Party);
         or

         (v) ADDITIONAL TERMINATION EVENT. If any "Additional Termination Event"
         is specified in the Schedule or any Confirmation as applying, the
         occurrence of such event (and, in such event, the Affected Party or
         Affected Parties shall be as specified for such Additional Termination
         Event in the Schedule or such Confirmation).

(c)   EVENT OF DEFAULT AND ILLEGALITY. If an event or circumstance which would
otherwise constitute or give rise to an Event of Default also constitutes an
Illegality, it will be treated as an Illegality and will not constitute an Event
of Default.

6.    EARLY TERMINATION

(a)   RIGHT TO TERMINATE FOLLOWING EVENT OF DEFAULT. If at any time an Event of
Default with respect to a party (the "Defaulting Party") has occurred and is
then continuing, the other party (the "Non-defaulting Party") may, by not more
than 20 days notice to the Defaulting Party specifying the relevant Event of
Default, designate a day not earlier than the day such notice is effective as an
Early Termination Date in respect of all outstanding Transactions. If, however,
"Automatic Early Termination" is specified in the Schedule as applying to a
party, then an Early Termination Date in respect of all outstanding Transactions
will occur immediately upon the occurrence with respect to such party of an
Event of Default specified in Section 5(a)(vii)(1), (3), (5), (6) or, to the
extent analogous thereto, (8), and as of the time immediately preceding the
institution of the relevant proceeding or the presentation of the relevant
petition upon the occurrence with respect to such party of an Event of Default
specified in Section 5(a)(vii)(4) or, to the extent analogous thereto, (8).

(b)   RIGHT TO TERMINATE FOLLOWING TERMINATION EVENT.

      (i) NOTICE. If a Termination Event occurs, an Affected Party will,
      promptly upon becoming aware of it, notify the other party, specifying the
      nature of that Termination Event and each Affected Transaction and will
      also give such other information about that Termination Event as the other
      party may reasonably require.

<PAGE>

      (ii) TRANSFER TO AVOID TERMINATION EVENT. If either an Illegality under
      Section 5(b)(i)(1) or a Tax Event occurs and there is only one Affected
      Party, or if a Tax Event Upon Merger Occurs and the Burdened Party is the
      Affected Party, the Affected Party will, as a condition to its right to
      designate an Early Termination Date under Section 6(b)(iv), use all
      reasonable efforts (which will not require such party to incur a loss,
      excluding immaterial, incidental expenses) to transfer within 20 days
      after it gives notice under Section 6(b)(i) all its rights and obligations
      under this Agreement in respect of the Affected Transactions to another of
      its Offices or Affiliates so that such Termination Event ceases to exist.

      If the Affected Party is not able to make such a transfer it will give
      notice to the other party to that effect within such 20 day period,
      whereupon the other party may effect such a transfer within 30 days after
      the notice is given under Section 6(b)(i).

      Any such transfer by a party under this Section 6(b)(ii) will be subject
      to and conditional upon the prior written consent of the other party,
      which consent will not be withheld if such other party's policies in
      effect at such time would permit it to enter into transactions with the
      transferee on the terms proposed.

      (iii)  TWO AFFECTED PARTIES. If an Illegality under Section 5(b)(i)(1) or
      a Tax Event occurs and there are two Affected Parties, each party will
      use all reasonable efforts to reach agreement within 30 days after notice
      thereof is given under Section 6(b)(i) on action to avoid that Termination
      Event.

      (iv)  RIGHT TO TERMINATE. If:--

            (1) a transfer under Section 6(b)(ii) or an agreement under Section
            6(b)(iii), as the case may be, has not been effected with respect to
            all Affected Transactions within 30 days after an Affected Party
            gives notice under Section 6(b)(i); or

            (2) an Illegality under Section 5(b)(i)(2), a Credit Event Upon
            Merger or an Additional Termination Event occurs, or a Tax Event
            Upon Merger occurs and the Burdened Party is not the Affected Party,

      either party in the case of an Illegality, the Burdened Party in the case
      of a Tax Event Upon Merger, any Affected Party in the case of a Tax Event
      or an Additional Termination Event if there is more than one Affected
      Party, or the party which is not the Affected Party in the case of a
      Credit Event Upon Merger or an Additional Termination Event if there is
      only one Affected Party may, by not more than 20 days notice to the other
      party and provided that the relevant Termination Event is then continuing,
      designate a day not earlier than the day such notice is effective as an
      Early Termination Date in respect of all Affected Transactions.

(c)   EFFECT OF DESIGNATION.

      (i) If notice designating an Early Termination Date is given under Section
      6(a) or (b), the Early Termination Date will occur on the date so
      designated, whether or not the relevant Event of Default or Termination
      Event is then continuing.

<PAGE>

      (ii)  Upon the occurrence or effective designation of an Early Termination
      Date, no further payments or deliveries under Section 2(a)(i) or 2(e) in
      respect of the Terminated Transactions will be required to be made, but
      without prejudice to the other provisions of this Agreement. The amount,
      if any, payable in respect of an Early Termination Date shall be
      determined pursuant to Section 6(e).

(d)   CALCULATIONS.

      (i)   STATEMENT. On or as soon as reasonably practicable following the
      occurrence of an Early Termination Date, each party will make the
      calculations on its part, if any, contemplated by Section 6(e) and will
      provide to the other party a statement (1) showing, in reasonable detail,
      such calculations (including all relevant quotations and specifying any
      amount payable under Section 6(e)) and (2) giving details of the relevant
      account to which any amount payable to it is to be paid. In the absence of
      written confirmation from the source of a quotation obtained in
      determining a Market Quotation, the records of the party obtaining such
      quotation will be conclusive evidence of the existence and accuracy of
      such quotation.

      (ii)   PAYMENT DATE. An amount calculated as being due in respect of any
      Early Termination Date under Section 6(e) will be payable on the day that
      notice of the amount payable is effective (in the case of an Early
      Termination Date which is designated or occurs as a result of an Event of
      Default) and on the day which is two Local Business Days after the day on
      which notice of the amount payable is effective (in the case of an Early
      Termination Date which is designated as a result of a Termination Event).
      Such amount will be paid together with (to the extent permitted under
      applicable law) interest thereon (before as well as after judgment) in the
      Termination Currency, from (and including) the relevant Early Termination
      Date to (but excluding) the date such amount is paid, at the Applicable
      Rate. Such interest will be calculated on the basis of daily compounding
      and the actual number of days elapsed.

(e)   PAYMENTS ON EARLY TERMINATION. If an Early Termination Date occurs, the
following provisions shall apply based on the parties' election in the Schedule
of a payment measure, either "Market Quotation" or "Loss", and a payment method,
either the "First Method" or the "Second Method". If the parties fail to
designate a payment measure or payment method in the Schedule, it will be deemed
that "Market Quotation" or the "Second Method", as the case may be, shall apply.
The amount, if any, payable in respect of an Early Termination Date and
determined pursuant to this Section will be subject to any Set-off.

      (i)   EVENTS OF DEFAULT. If the Early Termination Date results from an
      Event of Default:--

            (1) FIRST METHOD AND MARKET QUOTATION. If the First Method and
            Market Quotation apply, the Defaulting Party will pay to the
            Non-defaulting Party the excess, if a positive number, of (A) the
            sum of the Settlement Amount (determined by the Non-defaulting
            Party) is respect of the Terminated Transactions and the Termination
            Currency Equivalent of the Unpaid Amounts owing to the

<PAGE>

            Non-defaulting Party over (B) the Termination Currency Equivalent of
            the Unpaid Amounts owing to the Defaulting Party.

            (2) FIRST METHOD AND LOSS. If the First Method and Loss apply, the
            Defaulting Party will pay to the Non-defaulting Party, if a positive
            number, the Non-defaulting Party's Loss in respect of this
            Agreement.

            (3) SECOND METHOD AND MARKET QUOTATION. If the Second Method and
            Market Quotation apply, an amount will be payable equal to (A) the
            sum of the Settlement Amount (determined by the Non-defaulting
            Party) in respect of the Terminated Transactions and the Termination
            Currency Equivalent of the Unpaid Amounts owing to the
            Non-defaulting Party less (B) the Termination Currency Equivalent of
            the Unpaid Amounts owing to the Defaulting Party. If that amount is
            a positive number, the Defaulting Party will pay it to the
            Non-defaulting Party; if it is a negative number, the Non-defaulting
            Party will pay the absolute value of that amount to the Defaulting
            Party.

            (4) SECOND METHOD AND LOSS. If the Second Method and Loss apply, an
            amount will be payable equal to the Non-defaulting Party's Loss in
            respect of this Agreement. If that amount is a positive number, the
            Defaulting Party will pay it to the Non-defaulting Party; if it is a
            negative number, the Non-defaulting Party will pay the absolute
            value of that amount to the Defaulting Party.

      (ii)  TERMINATION EVENTS. If the Early Termination Date results from a
      Termination Event:--

            (1)   ONE AFFECTED PARTY. If there is one Affected Party, the amount
            payable will be determined in accordance with Section 6(e)(i)(3), if
            Market Quotation applies, or Section 6(e)(i)(4), if Loss applies,
            except that, in either case, references to the Defaulting Party and
            to the Non-defaulting Party will be deemed to be references to the
            Affected Party and the party which is not the Affected Party,
            respectively, and, if Loss applies and fewer than all the
            Transactions are being terminated, Loss shall be calculated in
            respect of all Terminated Transactions.

            (2)   TWO AFFECTED PARTIES. If there are two Affected Parties:--

                  (A) if Market Quotation applies, each party will determine a
                  Settlement Amount in respect of the Terminated Transactions,
                  and an amount will be payable equal to (I) the sum of (a)
                  one-half of the difference between the Settlement Amount of
                  the party with the higher Settlement Amount ("X") and the
                  Settlement Amount of the party with the lower Settlement
                  Amount ("Y") and (b) the Termination Currency Equivalent of
                  the Unpaid Amounts owing to X less (II) the Termination
                  Currency Equivalent of the Unpaid Amounts owing to Y; and

                  (B) if Loss applies, each party will determine its Loss in
                  respect of this Agreement (or, if fewer than all the
                  Transactions are being terminated, in respect of all
                  Terminated Transactions) and an amount will be payable equal

<PAGE>

                  to one-half of the difference between the Loss of the party
                  with the higher Loss ("X") and the Loss of the party with the
                  lower Loss ("Y").

                  If the amount payable is a positive number, Y will pay it to
                  X; if it is a negative number, X will pay the absolute value
                  of that amount to Y.

      (iii)   ADJUSTMENT FOR BANKRUPTCY. In circumstances where an Early
      Termination Date occurs because "Automatic Early Termination" applies in
      respect of a party, the amount determined under this Section 6(e) will be
      subject to such adjustments as are appropriate and permitted by law to
      reflect any payments or deliveries made by one party to the other under
      this Agreement (and retained by such other party) during the period from
      the relevant Early Termination Date to the date for payment determined
      under Section 6(d)(ii).

      (iv)   PRE-ESTIMATE. The parties agree that if Market Quotation applies an
      amount recoverable under this Section 6(e) is a reasonable pre-estimate of
      loss and not a penalty. Such amount is payable for the loss of bargain and
      the loss of protection against future risks and except as otherwise
      provided in this Agreement neither party will be entitled to recover any
      additional damages as a consequence of such losses.

7.    TRANSFER

Subject to Section 6(b)(ii), neither this Agreement nor any interest or
obligation in or under this Agreement may be transferred (whether by way of
security or otherwise) by either party without the prior written consent of the
other party, except that:--

(a)   a party may make such a transfer of this Agreement pursuant to a
consolidation or amalgamation with, or merger with or into, or transfer of all
or substantially all its assets to, another entity (but without prejudice to any
other right or remedy under this Agreement); and

(b)   a party may make such a transfer of all or any part of its interest in any
amount payable to it from a Defaulting Party under Section 6(e).

Any purported transfer that is not in compliance with this Section will be void.

8.    CONTRACTUAL CURRENCY

(a)   PAYMENT IN THE CONTRACTUAL CURRENCY. Each payment under this Agreement
will be made in the relevant currency specified in this Agreement for that
payment (the "Contractual Currency"). To the extent permitted by applicable law,
any obligation to make payments under this Agreement in the Contractual Currency
will not be discharged or satisfied by any tender in any currency other than the
Contractual Currency, except to the extent such tender results in the actual
receipt by the party to which payment is owed, acting in a reasonable manner and
in good faith in converting the currency so tendered into the Contractual
Currency, of the full amount in the Contractual Currency of all amounts payable
in respect of this Agreement. If for any reason the amount in the Contractual
Currency so received falls short of the amount in the Contractual Currency
payable in respect of this Agreement, the party required to make the payment

<PAGE>

will, to the extent permitted by applicable law, immediately pay such additional
amount in the Contractual Currency as may be necessary to compensate for the
shortfall. If for any reason the amount in the Contractual Currency so received
exceeds the amount in the Contractual Currency payable in respect of this
Agreement, the party receiving the payment will refund promptly the amount of
such excess.

(b)   JUDGMENTS. To the extent permitted by applicable law, if any judgment or
order expressed in a currency other than the Contractual Currency is rendered
(i) for the payment of any amount owing in respect of this Agreement, (ii) for
the payment of any amount relating to any early termination in respect of this
Agreement or (iii) in respect of a judgment or order of another court for the
payment of any amount described in (i) or (ii) above, the party seeking
recovery, after recovery in full of the aggregate amount to which such party is
entitled pursuant to the judgment or order, will be entitled to receive
immediately from the other party the amount of any shortfall of the Contractual
Currency received by such party as a consequence of sums paid in such other
currency and will refund promptly to the other party any excess of the
Contractual Currency received by such party as a consequence of sums paid in
such other currency if such shortfall or such excess arises or results from any
variation between the rate of exchange at which the Contractual Currency is
converted into the currency of the judgment or order for the purposes of such
judgment or order and the rate of exchange at which such party is able, acting
in a reasonable manner and in good faith in converting the currency received
into the Contractual Currency, to purchase the Contractual Currency with the
amount of the currency of the judgment or order actually received by such party.
The term "rate of exchange" includes, without limitation, any premiums and costs
of exchange payable in connection with the purchase of or conversion into the
Contractual Currency.

(c)   SEPARATE INDEMNITIES. To the extent permitted by applicable law, these
indemnities constitute separate and independent obligations from the other
obligations in this Agreement, will be enforceable as separate and independent
causes of action, will apply notwithstanding any indulgence granted by the party
to which any payment is owed and will not be affected by judgment being obtained
or claim or proof being made for any other sums payable is respect of this
Agreement.

(d)   EVIDENCE OF LOSS. For the purpose of this Section 8, it will be sufficient
for a party to demonstrate that it would have suffered a loss had an actual
exchange or purchase been made.

9.    MISCELLANEOUS

(a)   ENTIRE  AGREEMENT.  This Agreement  constitutes the entire agreement and
understanding of the parties with respect to its subject matter and supersedes
all oral communication and prior writings with respect thereto.

(b)   AMENDMENTS. No amendment, modification or waiver in respect of this
Agreement will be effective unless in writing (including a writing evidenced by
a facsimile transmission) and executed by each of the parties or confirmed by an
exchange of telexes or electronic messages on an electronic messaging system.

<PAGE>

(c)   SURVIVAL OF OBLIGATIONS.  Without prejudice to Sections 2(a)(iii) and
6(c)(ii), the obligations of the parties under this Agreement will survive the
termination of any Transaction.

(d)   REMEDIES CUMULATIVE.  Except as provided in this Agreement, the rights,
powers, remedies and privileges provided in this Agreement are cumulative and
not exclusive of any rights, powers, remedies and privileges provided by law.

(e)   COUNTERPARTS AND CONFIRMATIONS.

      (i) This Agreement (and each amendment, modification and waiver in respect
      of it) may be executed and delivered in counterparts (including by
      facsimile transmission), each of which will be deemed an original.

      (ii) The parties intend that they are legally bound by the terms of each
      Transaction from the moment they agree to those terms (whether orally or
      otherwise). A Confirmation shall be entered into as soon as practicable
      and may be executed and delivered in counterparts (including by facsimile
      transmission) or be created by an exchange of telexes or by an exchange of
      electronic messages on an electronic messaging system, which in each case
      will be sufficient for all purposes to evidence a binding supplement to
      this Agreement. The parties will specify therein or through another
      effective means that any such counterpart, telex or electronic message
      constitutes a Confirmation.

(f)   NO WAIVER OF RIGHTS. A failure or delay in exercising any right, power or
privilege in respect of this Agreement will not be presumed to operate as a
waiver, and a single or partial exercise of any right, power or privilege will
not be presumed to preclude any subsequent or further exercise, of that right,
power or privilege or the exercise of any other right, power or privilege.

(g)   HEADINGS. The headings used in this Agreement are for convenience of
reference only and are not to affect the construction of or to be taken into
consideration in interpreting this Agreement.

10.   OFFICES; MULTIBRANCH PARTIES

(a)   If Section 10(a) is specified in the Schedule as applying, each party that
enters into a Transaction through an Office other than its head or home office
represents to the other party that, notwithstanding the place of booking office
or jurisdiction of incorporation or organisation of such party, the obligations
of such party are the same as if it had entered into the Transaction through its
head or home office. This representation will be deemed to be repeated by such
party on each date on which a Transaction is entered into.

(b)   Neither party may change the Office through which it makes and receives
payments or deliveries for the purpose of a Transaction without the prior
written consent of the other party.

(c)   If a party is specified as a Multibranch Party in the Schedule, such
Multibranch Party may make and receive payments or deliveries under any
Transaction through any Office listed in the Schedule, and the Office through

<PAGE>

which it makes and receives payments or deliveries with respect to a Transaction
will be specified in the relevant Confirmation.

11.   EXPENSES

A Defaulting Party will, on demand, indemnify and hold harmless the other party
for and against all reasonable out-of-pocket expenses, including legal fees and
Stamp Tax, incurred by such other party by reason of the enforcement and
protection of its rights under this Agreement or any Credit Support Document to
which the Defaulting Party is a party or by reason of the early termination of
any Transaction, including, but not limited to, costs of collection.

12.   NOTICES

(a)   EFFECTIVENESS. Any notice or other communication in respect of this
Agreement may be given in any manner set forth below (except that a notice or
other communication under Section 5 or 6 may not be given by facsimile
transmission or electronic messaging system) to the address or number or in
accordance with the electronic messaging system details provided (see the
Schedule) and will be deemed effective as indicated:--

      (i) if in writing and delivered in person or by courier, on the date it is
      delivered;

      (ii) if sent by telex, on the date the recipient's answerback is received;

      (iii) if sent by facsimile transmission, on the date that transmission is
      received by a responsible employee of the recipient in legible form (it
      being agreed that the burden of proving receipt will be on the sender and
      will not be met by a transmission report generated by the sender's
      facsimile machine);

      (iv) if sent by certified or registered mail (airmail, if overseas) or the
      equivalent (return receipt requested), on the date that mail is delivered
      or its delivery is attempted; or

      (v) if sent by electronic messaging system, on the date that electronic
      message is received.

unless the date of that delivery (or attempted delivery) or that receipt, as
applicable, is not a Local Business Day or that communication is delivered (or
attempted) or received, as applicable, after the close of business on a Local
Business Day, in which case that communication shall be deemed given and
effective on the first following day that is a Local Business Day.

(b)   CHANGE OF ADDRESSES. Either party may by notice to the other change the
address, telex or facsimile number or electronic messaging system details at
which notices or other communications are to be given to it.

13.   GOVERNING LAW AND JURISDICTION

(a)   GOVERNING LAW. This  Agreement  will be governed by and construed in
accordance with the law specified in the Schedule.

<PAGE>

(b)   JURISDICTION.   With respect to any suit, action or proceedings relating
to this Agreement ("Proceedings"), each party irrevocably:--

      (i) submits to the jurisdiction of the English courts, if this Agreement
      is expressed to be governed by English law, or to the non-exclusive
      jurisdiction of the courts of the State of New York and the United States
      District Court located in the Borough of Manhattan in New York City, if
      this Agreement is expressed to be governed by the laws of the State of New
      York; and

      (ii) waives any objection which it may have at any time to the laying of
      venue of any Proceedings brought in any such court, waives any claim that
      such Proceedings have been brought in an inconvenient forum and further
      waives the right to object, with respect to such Proceedings, that such
      court does not have any jurisdiction over such party.

Nothing in this Agreement precludes either party from bringing Proceedings in
any other jurisdiction (outside, if this Agreement is expressed to be governed
by English law, the Contracting States, as defined in Section 1(3) of the Civil
Jurisdiction and Judgments Act 1982 or any modification, extension or
re-enactment thereof for the time being in force) nor will the bringing of
Proceedings in any one or more jurisdictions preclude the bringing of
Proceedings in any other jurisdiction.

(c)   SERVICE OF PROCESS. Each party irrevocably appoints the Process Agent (if
any) specified opposite its name in the Schedule to receive, for it and on its
behalf, service of process in any Proceedings. If for any reason any party's
Process Agent is unable to act as such, such party will promptly notify the
other party and within 30 days appoint a substitute process agent acceptable to
the other party. The parties irrevocably consent to service of process given in
the manner provided for notices in Section 12. Nothing in this Agreement will
affect the right of either party to serve process in any other manner permitted
by law.

(d)   WAIVER OF IMMUNITIES. Each party irrevocably waives, to the fullest extent
permitted by applicable law, with respect to itself and its revenues and assets
(irrespective of their use or intended use), all immunity on the grounds of
sovereignty or other similar grounds from (i) suit, (ii) jurisdiction of any
court, (iii) relief by way of injunction, order for specific performance or for
recovery of property, (iv) attachment of its assets (whether before or after
judgment) and (v) execution or enforcement of any judgment to which it or its
revenues or assets might otherwise be entitled in any Proceedings in the courts
of any jurisdiction and irrevocably agrees, to the extent permitted by
applicable law, that it will not claim any such immunity in any Proceedings.

14.   DEFINITIONS

As used in this Agreement:--

"ADDITIONAL TERMINATION EVENT" has the meaning specified in Section 5(b).

"AFFECTED PARTY" has the meaning specified in Section 5(b).

<PAGE>

"AFFECTED TRANSACTIONS" means (a) with respect to any Termination Event
consisting of an Illegality, Tax Event or Tax Event Upon Merger, all
Transactions affected by the occurrence of such Termination Event and (b) with
respect to any other Termination Event, all Transactions.

"AFFILIATE" means, subject to the Schedule, in relation to any person, any
entity controlled, directly or indirectly, by the person, any entity that
controls, directly or indirectly, the person or any entity directly or
indirectly under common control with the person. For this purpose, "control" of
any entity or person means ownership of a majority of the voting power of the
entity or person.

"APPLICABLE RATE" means:--

(a)   in respect of obligations  payable or deliverable (or which would have
been but for Section  2(a)(iii)) by a Defaulting Party, the Default Rate;

(b)   in respect of an obligation to pay an amount under Section 6(e) of either
party from and after the date (determined in accordance with Section 6(d)(iii))
on which that amount is payable, the Default Rate;

(c)   in respect of all other obligations payable or deliverable (or which
would have been but for  Section 2(a)(iii)) by a Non-defaulting Party, the
Non-default Rate; and

(d)   in all other cases, the Termination Rate.

"BURDENED PARTY" has the meaning specified in Section 5(b).

"CHANGE IN TAX LAW" means the enactment, promulgation, execution or ratification
of, or any change in or amendment to, any law (or in the application or official
interpretation of any law) that occurs on or after the date on which the
relevant Transaction is entered into.

"CONSENT" includes a consent, approval, action, authorisation, exemption,
notice, filing, registration or exchange control consent.

"CREDIT EVENT UPON MERGER" has the meaning specified in Section 5(b).

"CREDIT SUPPORT DOCUMENT" means any agreement or instrument that is specified as
such in this Agreement.

"CREDIT SUPPORT PROVIDER" has the meaning specified is the Schedule.

"DEFAULT RATE" means a rate per annum equal to the cost (without proof or
evidence of any actual cost) to the relevant payee (as certified by it) if it
were to fund or of funding the relevant amount plus 1% per annum.

"DEFAULTING PARTY" has the meaning specified in Section 6(a).

"EARLY TERMINATION DATE" means the date determined in accordance with Section
6(a) or 6(b)(iv).

<PAGE>

"EVENT OF DEFAULT" has the meaning specified in Section 5(a) and, if applicable,
in the Schedule.

"ILLEGALITY" has the meaning specified in Section 5(b).

"LNDEMNIFIABLE TAX" means any Tax other than a Tax that would not be imposed in
respect of a payment under this Agreement but for a present or former connection
between the jurisdiction of the government or taxation authority imposing such
Tax and the recipient of such payment or a person related to such recipient
(including, without limitation, a connection arising from such recipient or
related person being or having been a citizen or resident of such jurisdiction,
or being or having been organised, present or engaged in a trade or business in
such jurisdiction, or having or having had a permanent establishment or fixed
place of business in such jurisdiction, but excluding a connection arising
solely from such recipient or related person having executed, delivered,
performed its obligations or received a payment under, or enforced, this
Agreement or a Credit Support Document).

"LAW" includes any treaty, law, rule or regulation (as modified in the case of
tax matters, by the practice of any relevant governmental revenue authority) and
"LAWFUL" and "UNLAWFUL" will be construed accordingly.

"LOCAL BUSINESS DAY" means, subject to the Schedule, a day on which commercial
banks are open for business (including dealings in foreign exchange and foreign
currency deposits) (a) in relation to any obligation under Section 2(a)(i), in
the place(s) specified in the relevant Confirmation or, if not so specified, as
otherwise agreed by the parties in writing or determined pursuant to provisions
contained, or incorporated by reference, in this Agreement, (b) in relation to
any other payment, in the place where the relevant account is located and, if
different, in the principal financial centre, if any, of the currency of such
payment, (c) in relation to any notice or other communication, including notice
contemplated under Section 5(a)(i), in the city specified in the address for
notice provided by the recipient and, in the case of a notice contemplated by
Section 2(b), in the place where the relevant new account is to be located and
(d) in relation to Section 5(a)(v)(2), in the relevant locations for performance
with respect to such Specified Transaction.

"LOSS" means, with respect to this Agreement or one or more Terminated
Transactions, as the case may be, and a party, the Termination Currency
Equivalent of an amount that party reasonably determines in good faith to be its
total losses and costs (or gain, in which case expressed as a negative number)
in connection with this Agreement or that Terminated Transaction or group of
Terminated Transactions, as the case may be, including any loss of bargain, cost
of funding or, at the election of such party but without duplication, loss or
cost incurred as a result of its terminating, liquidating, obtaining or
reestablishing any hedge or related trading position (or any gain resulting from
any of them). Loss includes losses and costs (or gains) in respect of any
payment or delivery required to have been made (assuming satisfaction of each
applicable condition precedent) on or before the relevant Early Termination Date
and not made, except, so as to avoid duplication, if Section 6(e)(i)(l) or (3)
or 6(e)(ii)(2)(A) applies. Loss does not include a party's legal fees and
out-of-pocket expenses referred to under Section 11. A party will determine its
Loss as of the relevant Early Termination Date, or, if that is not reasonably
practicable, as of the earliest date thereafter as is reasonably practicable. A

<PAGE>

party may (but need not) determine its Loss by reference to quotations of
relevant rates or prices from one or more leading dealers in the relevant
markets.

"MARKET QUOTATION" means, with respect to one or more Terminated Transactions
and a party making the determination, an amount determined on the basis of
quotations from Reference Market-makers. Each quotation will be for an amount,
if any, that would be paid to such party (expressed as a negative number) or by
such party (expressed as a positive number) in consideration of an agreement
between such party (taking into account any existing Credit Support Document
with respect to the obligations of such party) and the quoting Reference
Market-maker to enter into a transaction (the "Replacement Transaction") that
would have the effect of preserving for such party the economic equivalent of
any payment or delivery (whether the underlying obligation was absolute or
contingent and assuming the satisfaction of each applicable condition precedent)
by the parties under Section 2(a)(i) in respect of such Terminated Transaction
or group of Terminated Transactions that would, but for the occurrence of the
relevant Early Termination Date, have been required after that date. For this
purpose, Unpaid Amounts in respect of the Terminated Transaction or group of
Terminated Transactions are to be excluded but, without limitation, any payment
or delivery that would, but for the relevant Early Termination Date, have been
required (assuming satisfaction of each applicable condition precedent) after
that Early Termination Date is to be included. The Replacement Transaction would
be subject to such documentation as such party and the Reference Market-maker
may, in good faith, agree. The party making the determination (or its agent)
will request each Reference Market-maker to provide its quotation to the extent
reasonably practicable as of the same day and time (without regard to different
time zones) on or as soon as reasonably practicable after the relevant Early
Termination Date. The day and time as of which those quotations are to be
obtained will be selected in good faith by the party obliged to make a
determination under Section 6(e), and, if each party is so obliged, after
consultation with the other. If more than three quotations are provided, the
Market Quotation will be the arithmetic mean of the quotations, without regard
to the quotations having the highest and lowest values. If exactly three such
quotations are provided, the Market Quotation will be the quotation remaining
after disregarding the highest and lowest quotations. For this purpose, if more
than one quotation has the same highest value or lowest value, then one of such
quotations shall be disregarded. If fewer than three quotations are provided, it
will be deemed that the Market Quotation in respect of such Terminated
Transaction or group of Terminated Transactions cannot be determined.

"NON-DEFAULT RATE" means a rate per annum equal to the cost (without proof or
evidence of any actual cost) to the Non-defaulting Party (as certified by it) if
it were to fund the relevant amount.

"NON-DEFAULTING PARTY" has the meaning specified in Section 6(a).

"OFFICE" means a. branch or office of a party, which may be such party's head or
home office.

"POTENTIAL EVENT OF DEFAULT" means any event which, with the giving of notice or
the lapse of time or both, would constitute as Event of Default.

"REFERENCE MARKET-MAKERS" means four leading dealers in the relevant market
selected by the party determining a Market Quotation in good faith (a) from

<PAGE>

among dealers of the highest credit standing which satisfy all the criteria that
such party applies generally at the time in deciding whether to offer or to make
an extension of credit and (b) to the extent practicable, from among such
dealers having an office in the same city.

"RELEVANT JURISDICTION" means, with respect to a party, the jurisdictions (a) in
which the party is incorporated, organised, managed and controlled or considered
to have its seat, (b) where an Office through which the party is acting for
purposes of this Agreement is located, (c) in which the party executes this
Agreement and (d) in relation to any payment, from or through which such payment
is made.

"SCHEDULED PAYMENT DATE" means a date on which a payment or delivery is to be
made under Section 2(a)(i) with respect to a Transaction.

"SET-OFF" means set-off, offset, combination of accounts, right of retention or
withholding or similar right or requirement to which the payer of an amount
under Section 6 is entitled or subject (whether arising under this Agreement,
another contract, applicable law or otherwise) that is exercised by, or imposed
on, such payer.

"SETTLEMENT AMOUNT" means, with respect to a party and any Early Termination
Date, the sum of:--

(a)   the Termination Currency Equivalent of the Market Quotations (whether
positive or negative) for each Terminated Transaction a group of Terminated
Transactions for which a Market Quotation is determined; and

(b)   such party's Loss (whether positive or negative and without reference to
any Unpaid Amounts) for each Terminated Transaction or group of Terminated
Transactions for which a Market Quotation cannot be determined or would not (in
the reasonable belief of the party making the determination) produce a
commercially reasonable result.

"SPECIFIED ENTITY" has the meaning specified in the Schedule.

"SPECIFIED INDEBTEDNESS" means, subject to the Schedule, any obligation (whether
present or future, contingent or otherwise, as principal or surety or otherwise)
in respect of borrowed money.

"SPECIFIED TRANSACTION" means, subject to the Schedule, (a) any transaction
(including an agreement with respect thereto) now existing or hereafter entered
into between one party to this Agreement (or any Credit Support Provider of such
party or any applicable Specified Entity of such party) and the other party to
this Agreement (or any Credit Support Provider of such other party or any
applicable Specified Entity of such other party) which is a rate swap
transaction, basis swap, forward rate transaction, commodity swap, commodity
option, equity or equity index swap, equity or equity index option, bond option,
interest rate option, foreign exchange transaction, cap transaction, floor
transaction, collar transaction, currency swap transaction, cross-currency rate
swap transaction, currency option or any other similar transaction (including
any option with respect to any of these transactions), (b) any combination of
these transactions and (c) any other transaction identified as a Specified
Transaction in this Agreement or the relevant confirmation.

<PAGE>

"STAMP TAX" means any stamp, registration, documentation or similar tax.

"TAX" means any present or future tax, levy, impost, duty, charge, assessment or
fee of any nature (including interest, penalties and additions thereto) that is
imposed by any government or other taxing authority in respect of any payment
under this Agreement other than a stamp, registration, documentation or similar
tax.

"TAX EVENT" has the meaning specified in Section 5(b).

"TAX EVENT UPON MERGER" has the meaning specified in Section 5(b).

"TERMINATED TRANSACTIONS" means with respect to any Early Termination Date (a)
if resulting from a Termination Event, all Affected Transactions and (b) if
resulting from an Event of Default, all Transactions (in either case) in effect
immediately before the effectiveness of the notice designating that Early
Termination Date (or, if "Automatic Early Termination" applies, immediately
before that Early Termination Date).

"TERMINATION CURRENCY" has the meaning specified in the Schedule.

"TERMINATION CURRENCY EQUIVALENT" means, in respect of any amount denominated in
the Termination Currency, such Termination Currency amount and, in respect of
any amount denominated in a currency other than the Termination Currency (the
"Other Currency"), the amount in the Termination Currency determined by the
party making the relevant determination as being required to purchase such
amount of such Other Currency as at the relevant Early Termination Date, or, if
the relevant Market Quotation or Loss (as the case may be), is determined as of
a later date, that later date, with the Termination Currency at the rate equal
to the spot exchange rate of the foreign exchange agent (selected as provided
below) for the purchase of such Other Currency with the Termination Currency at
or about 11:00 a.m. (in the city in which such foreign exchange agent is
located) on such date as would be customary for the determination of such a rate
for the purchase of such Other Currency for value on the relevant Early
Termination Date or that later date. The foreign exchange agent will, if only
one party is obliged to make a determination under Section 6(e), be selected in
good faith by that party and otherwise will be agreed by the parties.

"TERMINATION EVENT" means an Illegality, a Tax Event or a Tax Event Upon Merger
or, if specified to be applicable, a Credit Event Upon Merger or an Additional
Termination Event.

"TERMINATION RATE" means a rate per annum equal to the arithmetic mean of the
cost (without proof or evidence of any actual cost) to each party (as certified
by such party) if it were to fund or of funding such amounts.

"UNPAID AMOUNTS" owing to any party means, with respect to an Early Termination
Date, the aggregate of (a) in respect of all Terminated Transactions, the
amounts that became payable (or that would have became payable but for Section
2(a)(iii)) to such party under Section 2(a)(i) on or prior to such Early
Termination Date and which remain unpaid as at such Early Termination Date and
(b) in respect of each Terminated Transaction, for each obligation under Section
2(a)(i) which was (or would have been but for Section 2(a)(iii)) required to be
settled by delivery to such party on or prior to such Early Termination Date and
which has not been so settled as at such Early Termination Date, an amount equal

<PAGE>

to the fair market value of that which was (or would have been) required to be
delivered as of the originally scheduled date for delivery, in each case
together with (to the extent permitted under applicable law) interest, in the
currency of such amounts, from (and including) the date such amounts or
obligations were or would have been required to have been paid or performed to
(but excluding) such Early Termination Date, at the Applicable Rate. Such
amounts of interest will be calculated on the basis of daily compounding and the
actual number of days elapsed. The fair market value of any obligation referred
to in clause (b) above shall be reasonably determined by the party obliged to
make the determination under Section 6(e) or, if each party is so obliged, it
shall, be the average of the Termination Currency Equivalents of the fair market
values reasonably determined by both parties.

IN WITNESS WHEREOF the parties have executed this document on the respective
dates specified below with effect from the date specified on the first page of
this document.

                                         WILMINGTON TRUST COMPANY, in its
                                         capacity as Subordination Agent on
                                         behalf of the TRUSTEE UNDER THE
MERRILL LYNCH CAPITAL SERVICES, INC.     CLASS G-1 TRUST AGREEMENT
------------------------------------     ------------------------------------
        (Name of Party)                             (Name of Party)

By:---------------------------------     By:---------------------------------
   Name:   RICHARD ZALESKI                  Name:  Monica M. Henry
   Title:  DESIGNATED SIGNATORY             Title: Senior Financial Services
                                                     Officer
   Date:                                    Date:

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