Document:

Exhibit
4.4

CNH EQUIPMENT TRUST 2007-A

PURCHASE AGREEMENT

between

CNH CAPITAL AMERICA LLC

and

CNH CAPITAL RECEIVABLES LLC

Dated as of March 1, 2007

TABLE OF CONTENTS

	
  ARTICLE I

  	
   

  	
  CERTAIN DEFINITIONS

  	
  1

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Section 1.1.

  	
  Definitions

  	
  1

  
	
   

  	
   

  	
  Section 1.2.

  	
  Other Definitional Provisions

  	
  2

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE II

  	
   

  	
  CONVEYANCE OF RECEIVABLES

  	
  2

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Section 2.1.

  	
  Conveyance of Purchased Contracts

  	
  2

  
	
   

  	
   

  	
  Section 2.2.

  	
  Conveyance of Subsequent CNHCA Receivables

  	
  3

  
	
   

  	
   

  	
  Section 2.3.

  	
  Intention of the Parties

  	
  4

  
	
   

  	
   

  	
  Section 2.4.

  	
  The Closing

  	
  4

  
	
   

  	
   

  	
  Section 2.5.

  	
  Payment of the Purchase Price

  	
  5

  
	
   

  	
   

  	
  Section 2.6.

  	
  Cross-Collateralization

  	
  5

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE III

  	
   

  	
  REPRESENTATIONS AND WARRANTIES

  	
  5

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Section 3.1.

  	
  Representations and Warranties of CNHCR

  	
  5

  
	
   

  	
   

  	
  Section 3.2.

  	
  Representations and Warranties of CNHCA

  	
  6

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE IV

  	
   

  	
  CONDITIONS

  	
  12

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Section 4.1.

  	
  Conditions to Obligation of CNHCR

  	
  12

  
	
   

  	
   

  	
  Section 4.2.

  	
  Conditions to Obligation of CNHCA

  	
  15

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE V

  	
   

  	
  COVENANTS OF CNHCA

  	
  15

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Section 5.1.

  	
  Protection of Right, Title and Interest

  	
  15

  
	
   

  	
   

  	
  Section 5.2.

  	
  Other Liens or Interests

  	
  16

  
	
   

  	
   

  	
  Section 5.3.

  	
  Jurisdiction of Organization

  	
  16

  
	
   

  	
   

  	
  Section 5.4.

  	
  Costs and Expenses

  	
  16

  
	
   

  	
   

  	
  Section 5.5.

  	
  Indemnification

  	
  16

  
	
   

  	
   

  	
  Section 5.6.

  	
  Transfer of Subsequent CNHCA Receivables

  	
  16

  
	
   

  	
   

  	
  Section 5.7.

  	
  Cross-Collateralization

  	
  17

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE VI

  	
   

  	
  MISCELLANEOUS PROVISIONS

  	
  17

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Section 6.1.

  	
  Obligations of CNHCA

  	
  17

  
	
   

  	
   

  	
  Section 6.2.

  	
  Repurchase Events

  	
  17

  
	
   

  	
   

  	
  Section 6.3.

  	
  CNHCR Assignment of Repurchased Receivables

  	
  17

  
	
   

  	
   

  	
  Section 6.4.

  	
  Trust

  	
  17

  
	
   

  	
   

  	
  Section 6.5.

  	
  Amendment

  	
  18

  
	
   

  	
   

  	
  Section 6.6.

  	
  Accountants’ Letters

  	
  18

  
	
   

  	
   

  	
  Section 6.7.

  	
  Waivers

  	
  19

  
	
   

  	
   

  	
  Section 6.8.

  	
  Notices

  	
  19

  
	
   

  	
   

  	
  Section 6.9.

  	
  Costs and Expenses

  	
  19

  
	
   

  	
   

  	
  Section 6.10.

  	
  Representations of CNHCA and CNHCR

  	
  19

  
	
   

  	
   

  	
  Section 6.11.

  	
  Confidential Information

  	
  19

  
	
   

  	
   

  	
  Section 6.12.

  	
  Headings and Cross-References

  	
  19

  
	
   

  	
   

  	
  Section 6.13.

  	
  Governing Law

  	
  20

  
	
   

  	
   

  	
  Section 6.14.

  	
  Counterparts

  	
  20

  

 

 i
 

 

	
  

  	
   

  	
  Section 6.15.

  	
  Severability

  	
  20

  
	
   

  	
   

  	
  Section 6.16.

  	
  Information Requests

  	
  20

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  EXHIBITS

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  EXHIBIT A

  	
   

  	
  Form of CNHCA Assignment

  	
   

  
	
  EXHIBIT B

  	
   

  	
  Form of CNHCA Subsequent Transfer Assignment

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SCHEDULES

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SCHEDULE P

  	
  Perfection Representation and Warranties

  	
   

  
						

 

 ii

PURCHASE AGREEMENT (as amended or supplemented from time to time, this
“Agreement”) dated as of March 1, 2007, between CNH CAPITAL AMERICA LLC, a
Delaware limited liability company (“CNHCA”), and CNH CAPITAL RECEIVABLES LLC,
a Delaware limited liability company (“CNHCR”).

RECITALS

WHEREAS, in the regular course of
its business, CNHCA purchases, directly and indirectly, from CIT Bank,
equipment dealers and brokers, and directly originates, Contracts; and

WHEREAS, CNHCA and CNHCR wish to set
forth the terms pursuant to which: 
(1) Contracts having an aggregate Contract Value of approximately
$184,011,912.47 and identified on Schedule A to the CNHCA Assignment (the
“Purchased Contracts”) as of the Initial Cutoff Date are to be sold by CNHCA to
CNHCR on the date hereof and (2) certain Subsequent CNHCA Receivables are
to be sold by CNHCA to CNHCR from time to time on each Subsequent Transfer
Date; and

WHEREAS, CNHCR, as of the Initial
Cutoff Date, owned Contracts previously purchased from CNHCA pursuant to an
Amended and Restated Receivables Purchase Agreement dated as of December 15,
2000 (as amended from time to time, the “Liquidity Receivables Purchase
Agreement”) between CNHCA and CNHCR, having an aggregate Contract Value of
approximately $729,813,470.75 and identified on Schedule A to the
Assignment (the “Owned Contracts”, and together with the Purchased Contracts,
the “Initial Receivables”); and

WHEREAS, the Initial Receivables and
the Subsequent CNHCA Receivables will be transferred by CNHCR, pursuant to the Sale
and Servicing Agreement, to CNH Equipment Trust 2007-A (the “Trust”), which
Trust will issue Certificates representing non-assessable, fully paid,
undivided beneficial interests in, and Notes collateralized by, the Receivables
and the other property of the Trust; and

WHEREAS, CNHCA and CNHCR wish to set
forth herein certain representations, warranties, covenants and indemnities of
CNHCA with respect to the Receivables for the benefit of CNHCR, the Trust, the
Noteholders, any Counterparty and the Certificateholders.

NOW, THEREFORE, in consideration of
the foregoing, other good and valuable consideration and the mutual terms and
covenants contained herein the parties hereto agree as follows:

Article I

Certain
Definitions

Section 1.1.            Definitions.  Capitalized terms used herein and not
otherwise defined herein are defined in Appendix A to the Indenture dated
as of the date hereof between CNH Equipment Trust 2007-A and The Bank of New
York Trust Company, N.A., as Indenture Trustee.

 1
 

Section 1.2.            Other
Definitional Provisions.  (a)
All terms defined in this Agreement shall have the defined meanings when used
in any certificate or other document made or delivered pursuant hereto unless
otherwise defined therein.

(b)           As used in this Agreement and in any
certificate or other document made or delivered pursuant hereto, accounting
terms not defined in this Agreement or in any such certificate or other
document, and accounting terms partly defined in this Agreement or in any such
certificate or other document to the extent not defined, shall have the
respective meanings given to them under generally accepted accounting
principles as in effect on the date hereof. 
To the extent that the definitions of accounting terms in this Agreement
or in any such certificate or other document are inconsistent with the meanings
of such terms under generally accepted accounting principles, the definitions
contained in this Agreement or in any such certificate or other document shall
control.

(c)           The words “hereof”, “herein”,
“hereunder” and words of similar import when used in this Agreement shall refer
to this Agreement as a whole and not to any particular provision of this
Agreement; Section, Schedule and Exhibit references contained in this Agreement
are references to Sections, Schedules and Exhibits in or to this Agreement
unless otherwise specified; and the term “including” shall mean “including,
without limitation,”.

(d)           The definitions contained in this
Agreement are applicable to the singular as well as the plural forms of such terms
and to the masculine as well as to the feminine and neuter genders of such
terms.

(e)           References to any law or regulation
refer to that law or regulation as amended from time to time and include any
successor law or regulation.

(f)            References to any agreement refer to
that agreement as from time to time amended or supplemented or as the terms of
such agreement are waived or modified in accordance with its terms.

(g)           References to any Person include that
Person’s successors and assigns.

Article
II

Conveyance
of Receivables

Section 2.1.            Conveyance of Purchased Contracts.  In consideration of CNHCR’s payment of
$184,011,912.47 (the “Initial Purchase Price”) in the manner set out in Section 2.5(a),
CNHCA does hereby sell, transfer, assign, set over and otherwise convey to
CNHCR, without recourse (subject to the obligations herein), all of its right,
title, interest in, to and under (collectively, the “Initial CNHCA Assets”):

(i)            the Purchased Contracts and the
Owned Contracts, including all documents constituting chattel paper included
therewith, and all 

 2
 

obligations of
the Obligors thereunder, including all monies paid thereunder on or after the
Initial Cutoff Date;

(ii)           the security interests in the
Financed Equipment granted by Obligors pursuant to the Purchased Contracts and
the Owned Contracts and any other interest of CNHCA in such Financed Equipment;

(iii)          any proceeds with respect to the
Purchased Contracts and the Owned Contracts from claims on insurance policies
covering Financed Equipment or Obligors;

(iv)          any proceeds from recourse to Dealers
with respect to the Purchased Contracts and the Owned Contracts;

(v)           any Financed Equipment that shall
have secured the Purchased Contracts and the Owned Contracts and that shall
have been acquired by or on behalf of CNHCR; and

(vi)          the proceeds of any and all of the
foregoing.

Insofar
as the grant above relates to Owned Contracts and related property, it is made
for administrative convenience and is not intended to derogate from the prior
conveyance of the Owned Contracts and related property pursuant to the
Liquidity Receivables Purchase Agreement.

Section 2.2.            Conveyance of Subsequent CNHCA
Receivables.  Subject to the
conditions set forth in Section 4.1(b), in consideration of CNHCR’s
delivery on the related Subsequent Transfer Date to or upon the order of CNHCA
of the related Subsequent Purchase Price pursuant to Section 2.5,
CNHCA does hereby sell, transfer, assign, set over and otherwise convey to
CNHCR, without recourse (subject to the obligations herein), all of its right,
title, interest in, to and under (collectively, the “Subsequent CNHCA Assets”;
and together with the Initial CNHCA Assets, the “Assets”):

(i)            the Subsequent CNHCA Receivables
listed on Schedule A to the related CNHCA Subsequent Transfer Assignment,
including all documents constituting chattel paper included therewith, and all
obligations of the Obligors thereunder, including all monies paid thereunder on
or after the related Subsequent Cutoff Date;

(ii)           the security interests in the Financed
Equipment granted by Obligors pursuant to such Subsequent CNHCA Receivables and
any other interest of CNHCA in such Financed Equipment;

(iii)          any proceeds with respect to such
Subsequent CNHCA Receivables from claims on insurance policies covering Financed
Equipment or Obligors;

 3
 

(iv)          any proceeds with respect to such
Subsequent CNHCA Receivables from recourse to Dealers;

(v)           any Financed Equipment that shall
have secured any such Subsequent CNHCA Receivable and that shall have been
acquired by or on behalf of CNHCR; and

(vi)          the proceeds of any and all of the
foregoing.

Section 2.3.            Intention of the Parties.  The parties to this Agreement intend that the
transactions contemplated hereby shall be, and shall be treated as, a purchase
by CNHCR and a sale by CNHCA of the Purchased Contracts and the Subsequent
CNHCA Receivables and not as a lending transaction, such that in the event of a
filing of a petition for relief by or against CNHCA under the Bankruptcy Code,
(i) such Purchased Contracts and Subsequent CNHCA Receivables would not be
property of CNHCA’s bankruptcy estate under Section 541 of the Bankruptcy
Code, (ii) the bankruptcy court would not compel the turnover of such
Purchased Contracts and Subsequent CNHCA Receivables or collections thereon by
CNHCR to CNHCA under Section 542 of the Bankruptcy Code, and
(iii) the bankruptcy court would determine that payments on such Purchased
Contracts and Subsequent CNHCA Receivables not in the possession of CNHCA would
not be subject to the automatic stay provisions of Section 362(a) of the
Bankruptcy Code imposed upon the commencement of CNHCA’s bankruptcy case.  The foregoing sale, assignment, transfer and
conveyance does not constitute, and is not intended to result in a creation or
assumption by CNHCR of, any obligation or liability with respect to any
Purchased Contract or any Subsequent CNHCA Receivables, nor shall CNHCR be
obligated to perform or otherwise be responsible for any obligation of CNHCA or
any other Person in connection with the Purchased Contracts or the Subsequent
CNHCA Receivables or under any agreement or instrument relating thereto,
including any contract or any other obligation to any Obligor.  If (but only to the extent that) the transfer
of the Assets hereunder is characterized by a court or other governmental
authority as a loan rather than a sale, CNHCA shall be deemed hereunder to have
granted to CNHCR a security interest in all of CNHCA’s right, title and
interest in and to the Assets.  Such security
interest shall secure all of CNHCA’s obligations (monetary or otherwise) under
this Agreement and the other Basic Documents to which it is a party, whether
now or hereafter existing or arising, due or to become due, direct or indirect,
absolute or contingent.  CNHCR shall
have, with respect to the property described in Section 2.1 and Section 2.2,
and in addition to all the other rights and remedies available to CNHCR under
this Agreement and applicable law, all the rights and remedies of a secured
party under any applicable UCC, and this Agreement shall constitute a security
agreement under applicable law.

Section 2.4.            The Closing.  The sale and purchase of the Purchased
Contracts shall take place at a closing at the offices of Kaye Scholer LLC,
Three First National Plaza, 70 West Madison Street, Suite 4100, Chicago,
Illinois 60602 on the Closing Date, simultaneously with the closings
under:  (a) the Sale and Servicing
Agreement, (b) the Trust Agreement, (c) the Administration Agreement
and (d) the Indenture.

 4
 

Section 2.5.            Payment of the Purchase Price.

(a)           Purchased
Contracts.  The Initial
Purchase Price is payable as follows: 
(i) partially in cash on the Closing Date, and (ii) the
remainder shall be deemed to have been added to the outstanding balance of the
subordinated note, dated as of December 15, 2000, payable by CNHCR to CNHCA and
executed in connection with the Liquidity Receivables Purchase Agreement.

(b)           Subsequent
CNHCA Receivables.  As
consideration for the conveyance of Subsequent CNHCA Receivables pursuant to Section 2.2,
CNHCR shall pay or cause to be paid to CNHCA on each Subsequent Transfer Date
an amount (a “Subsequent Purchase Price”) equal to the aggregate Contract Value
of the Subsequent CNHCA Receivables as of the related Subsequent Cutoff Date,
plus any premium or minus any discount agreed upon by CNHCA and CNHCR.  Any Subsequent Purchase Price shall be
payable as follows:  (i) cash in the
amount released to CNHCR in respect of the Subsequent CNHCA Receivables from
the Pre-Funding Account pursuant to Section 5.8(a) of the Sale and
Servicing Agreement shall be paid to CNHCA on the related Subsequent Transfer
Date; and (ii) the balance shall be paid in cash as and when amounts are
released to, or otherwise realized by, CNHCR from the Spread Account, the
Negative Carry Account, and the Principal Supplement Account in accordance with
the Sale and Servicing Agreement, or otherwise are available for such purpose.

Section 2.6.            Cross-Collateralization.  To the extent CNHCA retains any interest in
any item of Financed Equipment securing the repayment of any Receivable, as a
result of the related Obligor agreeing to cross-collateralize all obligations
owed by such Obligor to CNHCA or otherwise, CNHCA acknowledges and agrees that
its interest in the Financed Equipment shall be expressly subordinate and
junior in priority to the repayment of all amounts outstanding under such
Receivable prior to becoming available to pay any amount outstanding under any
other obligation owed by such Obligor to CNHCA. 
CNHCA hereby represents, warrants and covenants that NH Credit has not
retained, and will not retain, any interest in any item of Financed Equipment
securing the repayment of any Receivable, whether as a result of the related
Obligor agreeing to cross-collateralize obligations or otherwise.

Article
III

Representations
and Warranties

Section 3.1.            Representations and Warranties of
CNHCR.  CNHCR hereby represents and
warrants to CNHCA as of the date hereof and as of the Closing Date:

(a)           Organization
and Good Standing.  CNHCR has
been duly organized and is validly existing as a limited liability company in
good standing under the laws of the State of Delaware, with the power and
authority to own its properties and to conduct its business as such properties
are currently owned and such business is presently conducted, and had at all
relevant times, and has, the power and authority to acquire, own and sell the
Receivables.

 5
 

(b)           Due
Qualification.  CNHCR is duly
qualified to do business as a foreign limited liability company in good
standing, and has obtained all necessary licenses and approvals, in all
jurisdictions in which the ownership or lease of property or the conduct of its
business shall require such qualifications, except where the failure to be so
qualified and have such licenses and approvals would not have a material
adverse effect on the Trust Estate, CNHCR’s performance of its obligations
under the Basic Documents to which it is a party, or the business or condition
(financial or otherwise) of CNHCR or impair the validity or enforceability of
any Receivable.

(c)           Power
and Authority.  CNHCR has the
power and authority to execute and deliver this Agreement and to carry out its
terms; and the execution, delivery and performance of this Agreement have been
duly authorized by CNHCR by all necessary limited liability company action.

(d)           Binding
Obligation.  This Agreement
constitutes a legal, valid and binding obligation of CNHCR enforceable against
CNHCR in accordance with its terms.

(e)           No
Violation.  The consummation
of the transactions contemplated by this Agreement and the fulfillment of the
terms hereof do not conflict with, result in any breach of any of the terms and
provisions of, or constitute (with or without notice or lapse of time) a
default under, the certificate of formation, limited liability company
agreement or by-laws of CNHCR, or any indenture, agreement or other instrument
to which CNHCR is a party or by which it is bound; or result in the creation or
imposition of any Lien upon any of its properties pursuant to the terms of any
such indenture, agreement or other instrument (other than the Sale and
Servicing Agreement and the Indenture); or violate any law or, to the best of
CNHCR’s knowledge, any order, rule or regulation applicable to CNHCR of any
court or of any federal or state regulatory body, administrative agency or
other governmental instrumentality having jurisdiction over CNHCR or its
properties.

(f)            No
Proceedings.  As of the date
of the Underwriting Agreement, Prospectus Date and the Closing Date, there are
no proceedings or investigations pending or, to CNHCR’s knowledge, threatened
against CNHCR, before any court, regulatory body, administrative agency or
other tribunal or governmental instrumentality having jurisdiction over CNHCR
or its properties:  (i) asserting
the invalidity of this Agreement, (ii) seeking to prevent the consummation
of any of the transactions contemplated by this Agreement, or
(iii) seeking any determination or ruling that might materially and
adversely affect the performance by CNHCR of its obligations under, or the
validity or enforceability of, this Agreement or otherwise be material to the
Noteholders.

Section 3.2.            Representations and Warranties of
CNHCA.  (a) CNHCA hereby represents
and warrants to CNHCR as of the date hereof and as of the Closing Date:

(i)            Organization
and Good Standing.  CNHCA has
been duly organized and is validly existing as a limited liability company in
good standing under the laws of the State of Delaware, with the power and
authority to own its properties and to conduct its business as such properties
are currently owned and 

 6
 

such business
is presently conducted, and had at all relevant times, and has, the power and
authority to acquire, own and sell the Receivables.

(ii)           Due
Qualification.  CNHCA is duly
qualified to do business as a foreign limited liability company in good
standing, and has obtained all necessary licenses and approvals, in all
jurisdictions in which the ownership or lease of property or the conduct of its
business shall require such qualifications, except where the failure to be so
qualified and have such licenses and approvals would not have a material
adverse effect on the Trust Estate, CNHCA’s performance of its obligations
under the Basic Documents to which it is a party, or the business or condition
(financial or otherwise) of CNHCA or impair the validity or enforceability of
any Receivable.

(iii)          Power
and Authority.  CNHCA has the
power and authority to execute and deliver this Agreement and to carry out its
terms; CNHCA has full power and authority to sell and assign the property to be
sold and assigned to CNHCR hereby and has duly authorized such sale and
assignment to CNHCR by all necessary limited liability company action; and the
execution, delivery and performance of this Agreement have been, and the
execution, delivery and performance of each CNHCA Subsequent Transfer
Assignment have been or will be on or before the related Subsequent Transfer
Date, duly authorized by CNHCA by all necessary limited liability company
action.

(iv)          Binding
Obligation.  This Agreement
constitutes, and each CNHCA Subsequent Transfer Assignment when executed and
delivered by CNHCA will constitute, a legal, valid and binding obligation of
CNHCA enforceable against CNHCA in accordance with their terms.

(v)           No
Violation.  The consummation
of the transactions contemplated by this Agreement and the fulfillment of the
terms hereof do not conflict with, result in any breach of any of the terms and
provisions of, or constitute (with or without notice or lapse of time) a
default under, the certificate of formation, by-laws or limited liability
company agreement of CNHCA, or any indenture, agreement or other instrument to
which CNHCA is a party or by which it is bound; or result in the creation or
imposition of any Lien upon any of its properties pursuant to the terms of any
such indenture, agreement or other instrument (other than this Agreement); or
violate any law or, to the best of CNHCA’s knowledge, any order, rule or
regulation applicable to CNHCA of any court or of any federal or state
regulatory body, administrative agency or other governmental instrumentality
having jurisdiction over CNHCA or its properties.

(vi)          No
Proceedings.  There are no
proceedings or investigations pending or, to CNHCA’s best knowledge, threatened,
before any court, regulatory body, administrative agency or other governmental
instrumentality having jurisdiction over CNHCA or its properties:  (A) asserting the invalidity of this
Agreement, (B) seeking to prevent the consummation of any of the
transactions contemplated by this Agreement, or (C) seeking any

 7
 

determination
or ruling that could reasonably be expected to materially and adversely affect
the performance by CNHCA of its obligations under, or the validity or
enforceability of, this Agreement.  As of
the date of the Underwriting Agreement, Prospectus Date and the Closing Date,
there are no legal proceedings pending against CNHCA, or of which any property
of CNHCA is subject, that are material to the Noteholders, and no such legal
proceedings are known to CNHCA to be contemplated by any governmental
authority.

(b)           CNHCA makes the following
representations and warranties as to the Receivables on which CNHCR relies in
accepting the Initial Receivables and the Subsequent CNHCA Receivables and in
transferring the Receivables to the Trust. 
Such representations and warranties speak as of the Closing Date, in the
case of the Initial Receivables, and as of the applicable Subsequent Transfer
Date, in the case of the Subsequent Receivables, but shall survive the sale,
transfer and assignment of the Receivables to CNHCR and the subsequent
assignment and transfer of such Receivables to the Trust pursuant to the Sale
and Servicing Agreement and pursuant to the Indenture:

(i)            Characteristics
of Receivables.  Each
Receivable is a Retail Installment Contract and:  (A) (1) (i) was originated in
the United States of America by a Dealer in connection with the retail sale of
Financed Equipment in the ordinary course of such Dealer’s business, and
(ii) was purchased by CNHCA from a Dealer and validly assigned by such
Dealer to CNHCA in accordance with its terms, except that some of the
Receivables were purchased by NH Credit from Dealers (after being originated as
provided above), securitized in a previous CNH Equipment Trust and purchased by
CNHCA through the exercise of a clean-up call relating to that previous
securitization, (2) was originated in the United States of America by
CNHCA in connection with the financing or refinancing, as applicable, of Financed
Equipment in the ordinary course of CNHCA’s business or (3) (i) was
originated in the United States of America in connection with the financing of
Financed Equipment in the ordinary course of a Dealer’s business, through a
program in which CIT Bank funds installment loans to consumers to enable the
consumers to purchase products distributed by such Dealer, and (ii) was
purchased by CNHCA from CIT Bank and validly assigned by CIT Bank to CNH in
accordance with its terms, and in the case of the foregoing clauses (1), (2)
and (3), was fully and properly executed by the parties thereto, (B) has
created a valid, subsisting and enforceable first priority security interest in
the Financed Equipment in favor of CNHCA except to the extent that such
security interest has been assigned by CNHCA to CNHCR, by CNHCR to the Issuing
Entity and by the Issuing Entity to the Indenture Trustee, (C) contains
customary and enforceable provisions such that the rights and remedies of the
holder thereof are adequate for realization against the collateral of the
benefits of the security, and (D) provides for fixed payments on a
periodic basis that fully amortize the Amount Financed by maturity and yield
interest at the Annual Percentage Rate.

(ii)           Schedule
of Receivables; No Adverse Selection of Receivables; Accuracy of Computer Tape.  The information set forth on Schedule A
to the CNHCA Assignment delivered on the Closing Date is true and 

 8
 

correct in all
material respects as of the opening of business on the Initial Cutoff Date and
the information set forth on Schedule A to the related CNHCA Subsequent
Transfer Assignment will be true and correct on each Subsequent Transfer Date
related to such CNHCA Subsequent Transfer Assignment.  No selection procedures believed by CNHCA to
be adverse to the interests of the Trust, the Noteholders or the
Certificateholders were or will be utilized in selecting the Receivables.  The computer tape regarding the Receivables
made available to CNHCR and its assigns is true and correct in all respects.

(iii)          Compliance
with Law.  Each Receivable and
the sale of the related Financed Equipment complied in all material respects at
the time it was originated or made and at the execution of this Agreement, and
each CNHCA Subsequent Transfer Assignment complies in all material respects,
with all requirements of applicable federal, state and local laws and
regulations thereunder, including usury law, the Federal Truth-in-Lending Act,
the Equal Credit Opportunity Act, the Fair Credit Reporting Act, the Fair Debt
Collection Practices Act, the Federal Trade Commission Act, the Magnuson-Moss
Warranty Act, the Federal Reserve Board’s Regulations B and Z, the Wisconsin
Consumer Act and state adaptations of the National Consumer Act and of the
Uniform Consumer Credit Code, and other consumer credit laws and equal credit
opportunity and disclosure laws.

(iv)          Binding
Obligation.  Each Receivable
represents the genuine, legal, valid and binding payment obligation in writing
of the Obligor, enforceable by the holder thereof in accordance with its terms.

(v)           No
Government Obligor.  None of
the Receivables is due from the United States of America or any state or from
any agency, department or instrumentality of the United States of America or
any state.

(vi)          Security
Interest in Financed Equipment. 
Immediately prior to the sale, assignment and transfer thereof, each
Receivable shall be secured by a validly perfected first priority security
interest in the Financed Equipment in favor of CNHCA as secured party or all
necessary and appropriate actions have been commenced that would result in the
valid perfection of a first priority security interest in the Financed
Equipment in favor of CNHCA as secured party.

(vii)         Receivables
in Force.  No Receivable has
been satisfied, subordinated or rescinded, nor has any Financed Equipment been
released from the Lien granted by the related Receivable in whole or in part.

(viii)        No
Amendment or Waiver.  No
provision of a Receivable has been waived, altered or modified in any respect,
except pursuant to a document, instrument or writing included in the Receivable
Files and no such amendment, waiver, alteration or modification causes such
Receivable not to conform to the other warranties contained in this Section.

 9
 

(ix)           No
Defenses.  No right of rescission,
setoff, counterclaim or defense has been asserted or threatened or exists with
respect to any Receivable.

(x)            No
Liens.  To the best of CNHCA’s
knowledge, no Liens or claims, including claims for work, labor or materials,
relating to any of the Financed Equipment have been filed that are Liens prior
to, or equal or coordinate with, the security interest in the Financed
Equipment granted by any Receivable, except those pursuant to the Basic
Documents.

(xi)           No
Default.  No Receivable is a
non-performing Receivable or has a payment that is more than 90 days overdue as
of the Initial Cutoff Date or Subsequent Cutoff Date, as applicable, and,
except for a payment default continuing for a period of not more than 90 days,
no default, breach, violation or event permitting acceleration under the terms
of any Receivable has occurred and is continuing; and no continuing condition
that with notice or the lapse of time would constitute such a default, breach,
violation or event permitting acceleration under the terms of any Receivable
has arisen; and CNHCA has not waived and shall not waive any of the foregoing.

(xii)          Title.  It is the intention of CNHCA that the
transfers and assignments contemplated herein and in the Liquidity Receivables
Purchase Agreement constitute a sale of the Receivables from CNHCA to CNHCR and
that the beneficial interest in and title to the Receivables not be part of the
debtor’s estate in the event of the filing of a bankruptcy petition by or
against CNHCA under any bankruptcy or similar law.  Immediately prior to the transfers and
assignments contemplated herein and in the Liquidity Receivables Purchase
Agreement, CNHCA had good title to each Receivable, free and clear of all Liens
and, immediately upon the transfer thereof, CNHCR shall have good title to each
Receivable, free and clear of all Liens; and the transfer and assignment of the
Receivables to CNHCR has been perfected under the UCC.

(xiii)         Lawful
Assignment.  No Receivable has
been originated in, or is subject to the laws of, any jurisdiction under which
the sale, transfer and assignment of such Receivable or any Receivable under
this Agreement, the Liquidity Receivables Purchase Agreement, the Sale and
Servicing Agreement or the Indenture is unlawful, void or voidable.

(xiv)        All Filings
Made.  All filings (including
UCC filings) necessary in any jurisdiction to give CNHCR a first priority
perfected ownership interest in the Receivables will be made on or prior to the
Closing Date.

(xv)         One
Original.  There is only one
original executed copy of each Receivable.

(xvi)        Maturity
of Receivables.  Each
Receivable has a remaining term to maturity of not more than 72 months, in the
case of the Initial Receivables, and 72 months, in the case of the
Subsequent Receivables; the

 10
 

weighted average
remaining term of the Initial Receivables is approximately 50.35 months as of
the Initial Cutoff Date; the weighted average original term of the Receivables,
including as of each Subsequent Transfer Date all Subsequent Receivables
previously transferred to CNHCR, will not be greater than 55 months.

(xvii)       Scheduled
Payments.  No Receivable has a
final scheduled payment date later than six months preceding the Final
Scheduled Maturity Date; each Receivable provides for payments that fully
amortize the Amount Financed over the original term of the Receivable, and is a
Simple Interest Receivable.

(xviii)      Insurance.  The Obligor on each Receivable is required to
maintain physical damage insurance covering the Financed Equipment in
accordance with CNHCA’s normal requirements.

(xix)         Concentrations.  No Receivable has a Statistical Contract
Value (when combined with the Statistical Contract Value of any other
Receivable with the same or an Affiliated Obligor) that exceeds 1% of the
aggregate Statistical Contract Value of all the Receivables.

(xx)          Financing.  Initial Receivables having an aggregate
Statistical Contract Value of approximately 59.61% of the Initial Aggregate
Statistical Contract Value were secured by equipment that was new at the time
the related Initial Receivable was originated; the remainder of the Initial
Receivables represent financing of used equipment; Initial Receivables having
an aggregate Statistical Contract Value of approximately 70.62% of the Initial
Aggregate Statistical Contract Value of the Initial Receivables, are
attributable to financing of agricultural equipment; the remainder of the
Initial Receivables are attributable to financing of construction and consumer
equipment.  Additionally, not more than
35% of the aggregate Contract Value of the Receivables, including, as of each
Subsequent Transfer Date, all Subsequent Receivables previously transferred to
CNHCR, will represent Contracts for the financing of construction equipment.

(xxi)         No
Bankruptcies.  No Obligor on
any Receivable as of the related Cutoff Date was noted in the related
Receivable File as being the subject of a bankruptcy proceeding.

(xxii)        No
Repossessions.  None of the
Financed Equipment securing any Receivable is in repossession status.

(xxiii)       Chattel
Paper.  Each Receivable
constitutes “chattel paper” as defined in the UCC of each State the law of
which governs the perfection of the interest granted in it and/or the priority
of such perfected interest.

(xxiv)       U.S.
Obligors.  None of the
Receivables is denominated and payable in any currency other than United States
Dollars or is due from any Person that does not have a mailing address in the
United States of America.

 11
 

(xxv)        Payment
Frequency.  As of the Initial
Cutoff Date and as shown on the books of CNHCA: 
(A) Initial Receivables having an aggregate Statistical Contract
Value equal to 51.81% of the Initial Aggregate Statistical Contract Value had
annual scheduled payments, (B) Initial Receivables having an aggregate
Statistical Contract Value equal to 2.46% of the Initial Aggregate Statistical
Contract Value had semi-annual scheduled payments, (C) Initial Receivables
having an aggregate Statistical Contract Value equal to 0.74% of the Initial
Aggregate Statistical Contract Value had quarterly scheduled payments, (D) Initial
Receivables having an aggregate Statistical Contract Value equal to 38.63% of
the Initial Aggregate Statistical Contract Value had monthly scheduled
payments, and (E) Initial Receivables having an aggregate Statistical
Contract Value equal to 6.36% of the Initial Aggregate Statistical Contract
Value had irregularly scheduled payments.

(xxvi)       Interest
Accruing.  Each Receivable,
other than those Receivables consisting of Contracts that contain interest
waivers for a specified period of time, is, as of the Closing Date or a
Subsequent Transfer Date, as applicable, accruing interest; no Receivable
contains an interest waiver extending more than 12 months after the Initial
Cutoff Date.

(xxvii)      Perfection
Representations.  CNHCA
further makes all the representations, warranties and covenants set forth in Schedule P.

Article
IV

Conditions

Section 4.1.            Conditions to Obligation of CNHCR.

               (a)             Purchased
Contracts.  The obligation of
CNHCR to purchase the Purchased Contracts is subject to the satisfaction of the
following conditions:

(i)            Representations
and Warranties True.  The
representations and warranties of CNHCA hereunder shall be true and correct on
the Closing Date and CNHCA shall have performed all obligations to be performed
by it hereunder on or prior to the Closing Date.

(ii)           Computer
Files Marked.  CNHCA shall, at
its own expense, on or prior to the Closing Date, indicate in its computer
files that Receivables created in connection with the Purchased Contracts have
been sold to CNHCR pursuant to this Agreement and deliver to CNHCR the Schedule
of Receivables certified by the Chairman, the President, a Vice President or
the Assistant Treasurer of CNHCA to be true, correct and complete.

 12
 

(iii)          Documents to Be Delivered by CNHCA on the Closing
Date.

(A)          The CNHCA Assignment. 
On the Closing Date (but only if the Contract Value of the Purchased
Contracts is greater than zero), CNHCA will execute and deliver the CNHCA
Assignment, which shall be substantially in the form of Exhibit A.

(B)           Evidence of UCC Filing. 
On or prior to the Closing Date (but only if the Contract Value of the
Purchased Contracts is greater than zero), CNHCA shall authorize and file, at
its own expense, a UCC financing statement in each jurisdiction in which such
action is required by applicable law to fully perfect CNHCR’s right, title and
interest in the Purchased Contracts and the other property sold hereunder,
executed by CNHCA, as seller or debtor, and naming CNHCR, as purchaser or
secured party, describing the Purchased Contracts and the other property sold
hereunder, meeting the requirements of the laws of each such jurisdiction and
in such manner as is necessary to perfect the sale, transfer, assignment and
conveyance of such Purchased Contracts and such other property to CNHCR.  It is understood and agreed, however, that no
filings will be made to perfect any security interest of CNHCR in CNHCA’s
interests in Financed Equipment.  CNHCA
shall deliver (or cause to be delivered) a file-stamped copy, or other evidence
satisfactory to CNHCR of such filing, to CNHCR promptly upon CNHCA’s receipt
thereof.

(C)           Other Documents. 
CNHCA will deliver such other documents as CNHCR may reasonably request.

(iv)          Other
Transactions.  The
transactions contemplated by the Sale and Servicing Agreement to be consummated
on the Closing Date shall be consummated on such date.

(b)           Subsequent
CNHCA Receivables.  The
obligation of CNHCR to purchase any Subsequent CNHCA Receivables is subject to
the satisfaction of the following conditions on or prior to the related
Subsequent Transfer Date:

(i)            CNHCA shall have delivered to CNHCR
a duly executed written assignment in substantially the form of Exhibit B (the
“CNHCA Subsequent Transfer Assignment”), which shall include supplements to the
Schedule of Receivables listing the Subsequent CNHCA Receivables;

(ii)           CNHCA shall, to the extent required
by Section 5.2 of the Sale and Servicing Agreement, have delivered to
CNHCR for deposit in the Collection Account all collections in respect of the
Subsequent CNHCA Receivables;

(iii)          as of such Subsequent Transfer
Date:  (A) CNHCA was not insolvent
and will not become insolvent as a result of the transfer of Subsequent 

 13
 

CNHCA
Receivables on such Subsequent Transfer Date, (B) CNHCA did not intend to
incur or believe that it would incur debts that would be beyond CNHCA’s ability
to pay as such debts matured, (C) such transfer was not made with actual
intent to hinder, delay or defraud any Person and (D) the assets of CNHCA
did not constitute unreasonably small capital to carry out its business as
conducted;

(iv)          the applicable Spread Account Initial
Deposit and Principal Supplement Account Deposit, if any, for such Subsequent
Transfer Date shall have been made;

(v)           the Funding Period shall not have
terminated;

(vi)          each of the representations and
warranties made by CNHCA pursuant to Section 3.2(b) with respect to
the Subsequent CNHCA Receivables or the Subsequent Receivables shall be true
and correct as of such Subsequent Transfer Date, and CNHCA shall have performed
all obligations to be performed by it hereunder on or prior to such Subsequent
Transfer Date;

(vii)         CNHCA shall, at its own expense, on or
prior to such Subsequent Transfer Date, indicate in its computer files that the
Subsequent CNHCA Receivables identified in the related CNHCA Subsequent
Transfer Assignment have been sold to CNHCR pursuant to this Agreement and the
CNHCA Subsequent Transfer Assignment;

(viii)        CNHCA shall take any action required to
give CNHCR a first priority perfected ownership interest in the Subsequent
CNHCA Receivables on or prior to the applicable Subsequent Transfer Date;

(ix)           no selection procedures believed by
CNHCA to be adverse to the interests of CNHCR, the Trust, the Noteholders or
the Certificateholders shall have been utilized in selecting the Subsequent
CNHCA Receivables;

(x)            the addition of the Subsequent CNHCA
Receivables will not result in a material adverse tax consequence to CNHCR, the
Trust, the Noteholders or the Certificateholders;

(xi)           CNHCA shall have provided CNHCR a
statement listing the aggregate Contract Value of such Subsequent CNHCA
Receivables and any other information reasonably requested by CNHCR with
respect to such Subsequent CNHCA Receivables;

(xii)          all the conditions to the transfer of
the Subsequent CNHCA Receivables to the Issuing Entity specified in the Sale
and Servicing Agreement shall have been satisfied; and

(xiii)         CNHCA shall have delivered to CNHCR an
Officer’s Certificate confirming the satisfaction of each condition precedent
specified in 

 14
 

this clause
(b) (substantially in the form attached hereto as Annex A to the CNHCA
Subsequent Transfer Assignment).

Section 4.2.            Conditions to Obligation of CNHCA.  The obligation of CNHCA to sell the Purchased
Contracts and the Subsequent CNHCA Receivables to CNHCR is subject to the
satisfaction of the following conditions:

(a)           Representations
and Warranties True.  The
representations and warranties of CNHCR hereunder shall be true and correct on
the Closing Date or the applicable Subsequent Transfer Date with the same
effect as if then made, and CNHCR shall have performed all obligations to be
performed by it hereunder on or prior to the Closing Date or such Subsequent
Transfer Date.

(b)           Receivables
Purchase Price.  On the
Closing Date or the applicable Subsequent Transfer Date, CNHCR shall have
delivered to CNHCA the portion of the Initial Purchase Price or the Subsequent
Purchase Price, as the case may be, payable on the Closing Date or such
Subsequent Transfer Date pursuant to Section 2.5.

Article V

Covenants
of CNHCA

CNHCA agrees with CNHCR as follows; provided, however,
that to the extent that any provision of this Article conflicts with any
provision of the Sale and Servicing Agreement, the Sale and Servicing Agreement
shall govern:

Section 5.1.            Protection of Right, Title and
Interest.

(a)           Filings.  CNHCA shall cause all financing statements
and continuation statements and any other necessary documents covering the
right, title and interest of CNHCR in and to the Receivables and the other
property included in the Trust Estate to be promptly filed, and at all times to
be kept recorded, registered and filed, all in such manner and in such places
as may be required by law fully to preserve and protect the right, title and
interest of CNHCR hereunder to the Receivables, and other property sold
hereunder.  CNHCA shall deliver (or cause
to be delivered) to CNHCR file-stamped copies of, or filing receipts for, any
document recorded, registered or filed as provided above as soon as available
following such recordation, registration or filing.  CNHCR shall cooperate fully with CNHCA in
connection with the obligations set forth above and will execute any and all
documents reasonably required to fulfill the intent of this paragraph.

(b)           Name
Change.  Within 15 days after
CNHCA makes any change in its name, identity or organizational structure that
would or could reasonably be expected to make any financing statement or
continuation statement filed in accordance with paragraph (a) seriously
misleading within the applicable provisions of the UCC or any title statute,
CNHCA shall give CNHCR notice of any such change, and no later than five days
after the effective date thereof, shall file such financing statements or
amendments 

 15
 

as may be necessary to continue the
perfection of CNHCR’s interest in the property included in the Trust Estate.

(c)           Location
Change.  Within 15 days after
CNHCA makes any change to its “location” as defined in Section 9-307 of
the UCC, CNHCA shall give CNHCR notice of any such change, and no later than
five days after the effective date thereof, shall file such financing
statements or amendments as may be necessary to continue the perfection of
CNHCR’s interest in the property included in the Trust Estate

Section 5.2.            Other Liens or Interests.  Except for the conveyances hereunder and
pursuant to the Liquidity Receivables Purchase Agreement, the Sale and
Servicing Agreement, the Indenture and the other Basic Documents, CNHCA:  (a) will not sell, pledge, assign or transfer
to any Person, or grant, create, incur, assume or suffer to exist any Lien on,
any interest in, to and under the Receivables, and (b) shall defend the
right, title and interest of CNHCR in, to and under the Receivables against all
claims of third parties claiming through or under CNHCA; provided, however,
that CNHCA’s obligations under this Section shall terminate upon the
termination of the Trust pursuant to the Trust Agreement.

Section 5.3.            Jurisdiction
of Organization.  During the term of
the Receivables, CNHCA will maintain its “location” (as defined in
Section 9-307 of the UCC) in one of the States.

Section 5.4.            Costs and Expenses.  CNHCA agrees to pay all reasonable costs and
disbursements in connection with the perfection, as against all third parties,
of CNHCR’s right, title and interest in, to and under the Receivables.

Section 5.5.            Indemnification.  CNHCA shall indemnify, defend and hold
harmless CNHCR for any liability as a result of the failure of a Receivable to
be originated in compliance with all requirements of law and for any breach of
any of its representations and warranties contained herein.  These indemnity obligations shall be in
addition to any obligation that CNHCA may otherwise have.  CNHCA shall indemnify, defend and hold
harmless CNHCR, the Issuing Entity, the Trustee and the Indenture Trustee (and
their respective officers, directors, employees and agents) from and against
any taxes that may at any time be asserted against such Person with respect to
the sale of the Purchased Contracts to CNHCR hereunder, the sale of the Owned
Contracts to CNHCR under the Liquidity Receivables Purchase Agreement or the
sale of the Receivables to the Issuing Entity by CNHCR or the issuance and
original sale of the Certificates and the Notes, including any sales, gross
receipts, general corporation, tangible personal property, privilege or license
taxes (but, in the case of CNHCR and the Issuing Entity, not including any
taxes asserted with respect to ownership of the Receivables on federal or other
income taxes arising out of the transactions contemplated by this Agreement)
and costs and expenses in defending against the same.

Section 5.6.            Transfer of Subsequent CNHCA
Receivables.  CNHCA covenants to
transfer to CNHCR, pursuant to Section 2.2, Subsequent CNHCA
Receivables with an aggregate Contract Value approximately equal to
$286,174,616.79, subject only to the availability of such Subsequent CNHCA
Receivables.

 16
 

Section 5.7.            Cross-Collateralization.  To the extent that CNHCA transfers, sells,
assigns or otherwise pledges any contract to a third party and retains any
interest in any item of Financed Equipment securing the repayment of any
Receivable, as a result of the related Obligor agreeing to cross-collateralize
all obligations owed by such Obligor to CNHCA and its assigns or otherwise,
CNHCA acknowledges and agrees that it shall obtain from such third party an
agreement that such third party’s interest in the Financed Equipment shall be
expressly subordinate and junior in priority to the repayment of all amounts
outstanding under such Receivable prior to becoming available to pay any amount
outstanding under any other obligation owed by such Obligor to such third
party.

Article
VI

Miscellaneous
Provisions

Section 6.1.            Obligations of CNHCA.  The obligations of CNHCA under this Agreement
shall not be affected by reason of any invalidity, illegality or irregularity
of any Receivable.

Section 6.2.            Repurchase Events.  CNHCA hereby covenants and agrees with CNHCR
for the benefit of CNHCR, the Indenture Trustee, the Noteholders, the Trust,
the Trustee and the Certificateholders that the occurrence of a breach of any
of CNHCA’s representations and warranties contained in Section 3.2(b),
shall constitute events obligating CNHCA to repurchase any Receivable and, with
respect to a breach of any of CNHCA’s representations and warranties contained
in Sections 3.2(b)(xvi), (xvii), (xix), (xx), (xxv)
and (xxvi), any Receivable materially and adversely affected by any such
breach (“Repurchase Events”) at the Purchase Amount from CNHCR or from the
Trust.  Except as set forth in Section 5.5,
the repurchase obligation of CNHCA shall constitute the sole remedy of CNHCR,
the Indenture Trustee, the Noteholders, the Trust, the Trustee or the
Certificateholders against CNHCA with respect to any Repurchase Event.  Section 4.6 and Section 9.1(a) of
the Sale and Servicing Agreement are hereby incorporated by reference as if
they were set forth herein.

Section 6.3.            CNHCR Assignment of Repurchased
Receivables.  With respect to all
Receivables repurchased by CNHCA pursuant to this Agreement, CNHCR shall sell,
transfer, assign, set over and otherwise convey to CNHCA, without recourse,
representation or warranty, all of CNHCR’s right, title and interest in, to and
under such Receivables, and all security and documents relating thereto.

Section 6.4.            Trust.  CNHCA acknowledges and agrees that:  (a) CNHCR will, pursuant to the Sale and
Servicing Agreement, sell the Receivables to the Trust and assign its rights
under this Agreement to the Trust, (b) the Trust will, pursuant to the
Indenture, assign such Receivables and such rights to the Indenture Trustee and
(c) the representations, warranties and covenants contained in this
Agreement and the rights of CNHCR under this Agreement, including under Section 6.2,
are intended to benefit the Trust, the Certificateholders, the Counterparty and
the Noteholders.  CNHCA hereby consents
to all such sales and assignments and agrees that enforcement of a right or
remedy hereunder by the Indenture Trustee shall have the same force and effect
as if the right or remedy had been enforced or executed by CNHCR.

 17
 

Section 6.5.            Amendment.  This Agreement may be amended from time to
time, with prior written notice to the Rating Agencies and the Counterparty, by
a written amendment duly executed and delivered by CNHCA and CNHCR, without the
consent of the Noteholders or the Certificateholders, to cure any ambiguity, to
correct or supplement any provisions in this Agreement or for the purpose of
adding any provisions to or changing in any manner or eliminating any of the
provisions of this Agreement or of modifying in any manner the rights of the
Noteholders or the Certificateholders; provided, however, that
such amendment will not as evidenced by an Officer’s Certificate, adversely
affect in any material respect the interest of any Noteholder or
Certificateholder.  An amendment shall be
deemed not to adversely affect in any material respect the interests of any
Class of Notes if the Rating Agency Condition has been satisfied with respect
to such amendment for such Class of Notes. 
Notwithstanding anything herein to the contrary, any term or provision
of this Agreement may be amended by CNHCA and CNHCR without the consent of the
Certificateholders, the Noteholders or any other Person to add, modify or
eliminate any provisions as may be necessary or advisable in order to comply
with or obtain more favorable treatment under or with respect to any law or
regulation or any accounting rule or principle (whether now or in the future in
effect); it being a condition to any such amendment that the Rating Agency
Condition shall have been satisfied.

This Agreement may also be amended from time to time by CNHCA and
CNHCR, with prior written notice to the Rating Agencies and the Counterparty,
with the written consent of (x) Noteholders holding Notes evidencing at
least a majority of the Note Balance and (y) the Certificateholders
evidencing not less than 50% of the beneficial interest in the Trust, for the
purpose of adding any provisions to or changing in any manner or eliminating
any of the provisions of this Agreement or of modifying in any manner the
rights of the Noteholders or the Certificateholders; provided, however,
that no such amendment may: 
(i) reduce the interest rate or principal of any Note or
Certificate, or delay the Class Final Scheduled Maturity Date of any Note or
(ii) reduce the aforesaid percentage of the Notes and Certificates that
are required to consent to any such amendment, without the consent of the
holders of all the outstanding Notes and Certificates affected thereby.

It shall not be necessary for the consent of Certificateholders or
Noteholders pursuant to this Section to approve the particular form of any
proposed amendment or consent, but it shall be sufficient if such consent shall
approve the substance thereof.

If any amendment or supplement would either: (1) materially and
adversely affect any of the Counterparty’s rights or obligations under the
Interest Rate Swap Agreement or any other Basic Document; or (b) materially and
adversely modify the obligations of, or materially and adversely impact the
ability of, the Trust to fully perform any of the Trust’s obligations under the
Interest Rate Swap Agreement, the Trust and the Indenture Trustee shall be
required to first obtain the written consent of the Counterparty before
entering into any such amendment or supplement. 
In addition, the Counterparty  has
the right to receive 10 days prior notice to any amendment or supplement to
this Agreement.

Section 6.6.            Accountants’ Letters.  (a) A firm of Independent certified
public accountants will review the characteristics of the Receivables described
in the Schedule of Receivables and will compare those characteristics to the
information with respect to the Receivables contained in the Prospectus, (b) CNHCA
will cooperate with CNHCR and such

 18
 

accounting firm in making available all information and taking all
steps reasonably necessary to permit such accounting firm to complete the
review set forth in clause (a) and to deliver the letters required of them
under the Underwriting Agreement, and (c) such accounting firm will
deliver to CNHCR a letter, dated the date of the Prospectus, in the form
previously agreed to by CNHCA and CNHCR, with respect to the financial and
statistical information contained in the Prospectus and with respect to such
other information as may be agreed in the form of the letter.

Section 6.7.            Waivers.  No failure or delay on the part of CNHCR in
exercising any power, right or remedy under this Agreement, the CNHCA
Assignment or any CNHCA Subsequent Transfer Assignment shall operate as a
waiver thereof, nor shall any single or partial exercise of any such power,
right or remedy preclude any other or further exercise thereof or the exercise
of any other power, right or remedy.

Section 6.8.            Notices.  All demands, notices and communications under
this Agreement shall be in writing, personally delivered or mailed by certified
mail, return receipt requested, and shall be deemed to have been duly given
upon receipt:  (a) in the case of
CNHCA, to CNH Capital America LLC, 100 South Saunders Road, Lake Forest,
Illinois 60045, Attention:  Treasurer
(telephone (847) 735-9200); (b) in the case of CNHCR, 100 South
Saunders Road, Lake Forest, Illinois 60045, Attention:  Treasurer (telephone (847) 735-9200);
(c) in the case of the Rating Agencies, at their respective addresses set
forth in Section 10.3 of the Sale and Servicing Agreement; (d) in the
case of the Counterparty, to Credit Suisse International, One Cabot Square, London E14 4QJ, England, Attention:
(1) Head of Credit Risk Management; (2) Managing Director - Operations
Department; (3) Managing Director - Legal Department, Telex No.: 264521,
Answerback: CSI G, with a copy to: Facsimile
No.: 44 20 7888 2686, Attention: Managing Director - Legal Department, telephone
number for oral confirmation of receipt of facsimile in legible form: 44 20
7888 2028; or, as to each of the foregoing, at such other address as shall be
designated by written notice to the other parties.

Section 6.9.            Costs and Expenses.  CNHCA will pay all expenses incident to the
performance of its obligations under this Agreement and CNHCA agrees to pay all
reasonable out-of-pocket costs and expenses of CNHCR, excluding fees and
expenses of counsel, in connection with the perfection as against third parties
of CNHCR’s right, title and interest in, to and under the Receivables and the
enforcement of any obligation of CNHCA hereunder.

Section 6.10.          Representations of CNHCA and CNHCR.  The respective agreements, representations,
warranties and other statements by CNHCA and CNHCR set forth in or made
pursuant to this Agreement shall remain in full force and effect and will
survive the closing under Section 2.4.

Section 6.11.          Confidential Information.  CNHCR agrees that it will neither use nor
disclose to any Person the names and addresses of the Obligors, except in
connection with the enforcement of CNHCR’s rights hereunder, under the
Receivables, under the Sale and Servicing Agreement or the Indenture or any
other Basic Document or as required by any of the foregoing or by law.

Section 6.12.          Headings and Cross-References.  The various headings in this Agreement are
included for convenience only and shall not affect the meaning or
interpretation

 19
 

of any provision of this
Agreement.  References in this Agreement
to Section names or numbers are to such Sections of this Agreement unless
otherwise expressly indicated.

Section 6.13.          Governing
Law.  This Agreement, the CNHCA
Assignment, and each CNHCA Subsequent Transfer Assignment shall be construed in
accordance with the laws of the State of New York, and the obligations, rights
and remedies of the parties hereunder or thereunder shall be determined in
accordance with such laws.

Section 6.14.          Counterparts.  This Agreement may be executed in two or more
counterparts and by different parties on separate counterparts, each of which
shall be an original, but all of which together shall constitute but one and
the same instrument.

Section 6.15.          Severability.  Any provision of this Agreement that is prohibited
or unenforceable in any jurisdiction shall, as to such jurisdiction, be
ineffective to the extent of such prohibition or unenforceability without
invalidating the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction.

Section 6.16.          Information Requests.  The parties hereto shall provide any
information reasonably requested by the other party or any of their Affiliates,
at the expense of such party, in order to comply with or obtain more favorable
treatment under any current or future law, rule, regulation, accounting rule or
principle.

(signature pages follow)

 20

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

	
  

  	
  CNH CAPITAL RECEIVABLES LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Brian J.
  O’Keane

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Brian J. O’Keane

  
	
   

  	
   

  	
  Title:

  	
  Treasurer

  
	
   

  	
   

  
	
   

  	
  CNH CAPITAL
  AMERICA LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Brian J.
  O’Keane

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Brian J. O’Keane

  
	
   

  	
   

  	
  Title:

  	
  Treasurer

  
					

 

EXHIBIT A

to Purchase Agreement

FORM OF

CNHCA ASSIGNMENT

For value received, in accordance with and subject to the Purchase
Agreement dated as of March 1, 2007 (the “Purchase Agreement”), between the
undersigned and CNH Capital Receivables LLC (“CNHCR”), the undersigned does
hereby sell, assign, transfer, set over and otherwise convey unto CNHCR,
without recourse, all of its right, title, interest in, to and under:  (a) the Purchased Contracts, which are
listed on Schedule A hereto, including all documents constituting
chattel paper included therewith, and all obligations of the Obligors
thereunder, including all monies paid thereunder on or after the Initial Cutoff
Date, (b) the security interests in the Financed Equipment granted by
Obligors pursuant to the Purchased Contracts and any other interest of the
undersigned in such Financed Equipment, (c) any proceeds with respect to
the Purchased Contracts from claims on insurance policies covering Financed
Equipment or Obligors, (d) any proceeds from recourse to Dealers with
respect to the Purchased Contracts, (e) any Financed Equipment that shall
have secured the Purchased Contracts and that shall have been acquired by or on
behalf of CNHCR, and (f) the proceeds of any and all of the foregoing.  The foregoing sale does not constitute and is
not intended to result in any assumption by CNHCR of any obligation of the
undersigned to the Obligors, insurers or any other person in connection with
the Purchased Contracts, Receivables Files, any insurance policies or any
agreement or instrument relating to any of them.

This CNHCA Assignment is made pursuant to and upon the representations,
warranties and agreements on the part of the undersigned contained in the
Purchase Agreement and is to be governed in all respects by the Purchase
Agreement.

Capitalized terms used herein and not otherwise defined shall have the
meanings assigned to them in the Purchase Agreement.

 A-1
 

IN WITNESS WHEREOF, the undersigned has caused this CNHCA Assignment to
be duly executed as of March 1, 2007.

	
  

  	
  CNH CAPITAL
  AMERICA LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

 

 

 A-2

SCHEDULE A

to CNHCA Assignment

SCHEDULE OF PURCHASED CONTRACTS

[ON FILE WITH THE INDENTURE TRUSTEE AND INCORPORATED BY

REFERENCE HEREIN.]

 S-1

EXHIBIT B

to Purchase Agreement

FORM OF

CNHCA SUBSEQUENT TRANSFER ASSIGNMENT

For value received, in accordance with and subject to the Purchase
Agreement dated as of March 1, 2007 (the “Purchase Agreement”), between CNH
Capital America LLC, a Delaware limited liability company (“CNHCA”), and CNH
Capital Receivables LLC, a Delaware limited liability company (“CNHCR”), CNHCA
does hereby sell, transfer, assign, set over and otherwise convey to CNHCR,
without recourse, all of its right, title, interest in, to and under:  (a) the Subsequent CNHCA Receivables,
with an aggregate Contract Value equal to $[  ], listed on Schedule A
hereto, including all documents constituting chattel paper included therewith,
and all obligations of the Obligors thereunder, including all monies paid
thereunder on or after the Subsequent Cutoff Date, (b) the security
interests in the Financed Equipment granted by Obligors pursuant to such
Subsequent CNHCA Receivables and any other interest of CNHCA in such Financed
Equipment, (c) any proceeds with respect to such Subsequent CNHCA
Receivables from claims on insurance policies covering Financed Equipment or
Obligors, (d) any proceeds from recourse to Dealers with respect to such
Subsequent CNHCA Receivables, (e) any Financed Equipment that shall have
secured any such Subsequent CNHCA Receivables and that shall have been acquired
by or on behalf of CNHCR, and (f) the proceeds of any and all of the
foregoing.  The foregoing sale does not
constitute and is not intended to result in any assumption by CNHCR of any
obligation of CNHCA to the Obligors, insurers or any other person in connection
with such Subsequent CNHCA Receivables, Receivable Files, any insurance
policies or any agreement or instrument relating to any of them.

This CNHCA Subsequent Transfer Assignment is made pursuant to and upon
the representations, warranties and agreements on the part of CNHCA contained
in the Purchase Agreement (including the Officer’s Certificate of CNHCA
accompanying this Agreement) and is to be governed in all respects by the
Purchase Agreement.

Capitalized terms used but not otherwise defined herein shall have the
meanings assigned to them in the Purchase Agreement.

 B-1
 

IN WITNESS WHEREOF, the undersigned has caused this CNHCA Subsequent
Transfer Assignment to be duly executed as of the    day of               , 2007.

	
  

  	
  CNH CAPITAL
  AMERICA LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

 B-2
 

SCHEDULE
A

to CNHCA Subsequent Transfer Assignment

SCHEDULE OF SUBSEQUENT CNHCA
RECEIVABLES

[ON FILE WITH THE INDENTURE TRUSTEE AND INCORPORATED BY

REFERENCE HEREIN.]

 B-3
 

ANNEX A

to
CNHCA Subsequent Transfer Assignment

OFFICER’S CERTIFICATE

I, the undersigned officer of CNH Capital America LLC (the “Company”),
do hereby certify, pursuant to Section 4.1(b)(xiii) of the Purchase Agreement
dated as of March 1, 2007, among the Company, and CNH Capital Receivables LLC
(the “ Purchase Agreement “), that (i) all of the conditions precedent to the
transfer to CNHCR of the Subsequent CNHCA Receivables listed on Schedule A to
the CNHCA Subsequent Transfer Assignment delivered herewith, and the other
property and rights related to such Subsequent CNHCA Receivables as described
in Section 2.2 of the Purchase Agreement, have been satisfied on or prior to
the related Subsequent Transfer Date and (ii) each statement of fact set forth
in any officer’s certificate executed by an officer of the Company in
connection with an Opinion of Counsel delivered on the Closing Date with
respect to a transfer of, or a security interest in, the Receivables shall be
true and correct as of the date hereof with respect to the Subsequent CNHCA
Receivables listed on the aforementioned Schedule A.

Capitalized terms used but not defined herein shall have the meanings
assigned to such terms in the Purchase Agreement.

IN WITNESS WHEREOF, the undersigned has caused this certificate to be
duly executed this day of , 2007.

	
  

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
					

 

 B-4

Schedule
P

1.                                       General.  The
Purchase Agreement creates, or with respect to Receivables that are Subsequent
Receivables upon the transfer of such Subsequent  Receivables pursuant to
the Subsequent Transfer Assignment will create, a valid and continuing security
interest (as defined in the UCC) in the Receivables in favor of CNHCR, which,
(a) is enforceable upon execution of the Purchase Agreement against creditors
of and purchasers from CNHCA, as such enforceability may be limited by
applicable debtor relief laws, now or hereafter in effect, and by general
principles of equity (whether considered in a  suit at law or in equity),
and (b) upon filing of the financing statements described in clause 4 below
will be prior to all other Liens (other than Liens permitted pursuant to clause
3 below).

2.                                       General.  The
Receivables constitute “tangible chattel paper” within the meaning of UCC
Section 9-102.  CNHCA has taken all steps necessary to perfect its
security interest against the Obligor in the Financed Equipment securing the
Receivables.

3.                                       Creation.  Immediately
prior to the conveyance of the Receivables pursuant to the Purchase Agreement,
CNHCA owns and has good and marketable title to, or has a valid security
interest in, the Receivables free and clear of any Lien, claim or encumbrance
of any Person.

4.                                       Perfection.  CNHCA
has caused or will have caused, within ten days of the Closing Date, the filing
of all appropriate financing statements in the proper filing office in the
appropriate jurisdictions under applicable law in order to perfect the security
interest granted to CNHCR under the Purchase Agreement in the
Receivables.  With respect to the Receivables that constitute tangible
chattel paper, CNHCA has in its possession the original copies of such tangible
chattel paper that constitute or evidence the Receivables, and CNHCA has
caused, or will have caused within ten days of the effective date of the
Purchase Agreement, the filing of financing statements against CNHCA and such
originator in favor of CNHCR in connection herewith describing such Receivables
and containing a statement that: “A purchase of or security interest in any
collateral described in this financing statement will violate the rights of the
Secured Party/Buyer.”

5.                                       Priority. 
Other than the security interests granted to CNHCR pursuant to the Purchase
Agreement and the Liquidity Receivables Purchase Agreement, CNHCA has not
pledged, assigned, sold, granted a security interest in, or otherwise conveyed
any of the Receivables.  CNHCA has not authorized the filing of and is not
aware of any financing statements against CNHCA that include a description of
collateral covering the Receivables other than any financing statement (i)
relating to the security interests granted to CNHCR under the Purchase Agreement
and the Liquidity Receivables Purchase Agreement (ii) that has been terminated,
or (iii) that has been granted pursuant to the terms of the Basic
Documents.  None of the tangible chattel paper that constitutes or
evidences the Receivables has any marks or notations indicating that they have
pledged, assigned or otherwise conveyed to any Person other than Indenture
Trustee.

 P-1Exhibit
4.5

CNH EQUIPMENT TRUST 2007-A

ADMINISTRATION AGREEMENT

among

CNH EQUIPMENT TRUST 2007-A,

as Issuing Entity,

and

NEW HOLLAND CREDIT COMPANY, LLC,

as Administrator,

and

THE BANK OF NEW YORK TRUST COMPANY,
N.A.,

as Indenture Trustee,

and

Wilmington Trust Company,

as Trustee

Dated as of March 1, 2007

TABLE
OF CONTENTS

	
  1.

  	
  Duties of the
  Administrator.

  	
  2

  
	
   

  	
  (a)

  	
  Duties with
  Respect to the Indenture and the Depository Agreement.

  	
  2

  
	
   

  	
  (b)

  	
  Duties with
  Respect to the Trust

  	
  4

  
	
   

  	
  (c)

  	
  Non-Ministerial
  Matters.

  	
  6

  
	
   

  	
   

  	
   

  
	
  2.

  	
  Records.

  	
  6

  
	
   

  	
   

  	
   

  
	
  3.

  	
  Compensation.

  	
  6

  
	
   

  	
   

  	
   

  
	
  4.

  	
  Additional
  Information to Be Furnished to the Issuing Entity.

  	
  7

  
	
   

  	
   

  	
   

  
	
  5.

  	
  Independence of
  the Administrator.

  	
  7

  
	
   

  	
   

  	
   

  
	
  6.

  	
  No Joint
  Venture.

  	
  7

  
	
   

  	
   

  	
   

  
	
  7.

  	
  Other Activities
  of the Administrator.

  	
  7

  
	
   

  	
   

  	
   

  
	
  8.

  	
  Term of
  Agreement; Resignation and Removal of the Administrator.

  	
  7

  
	
   

  	
   

  	
   

  
	
  9.

  	
  Action upon
  Termination, Resignation or Removal.

  	
  9

  
	
   

  	
   

  	
   

  
	
  10.

  	
  Notices.

  	
  9

  
	
   

  	
   

  	
   

  
	
  11.

  	
  Amendments.

  	
  10

  
	
   

  	
   

  	
   

  
	
  12.

  	
  Successors and
  Assigns.

  	
  12

  
	
   

  	
   

  	
   

  
	
  13.

  	
  Governing Law.

  	
  12

  
	
   

  	
   

  	
   

  
	
  14.

  	
  Headings.

  	
  12

  
	
   

  	
   

  	
   

  
	
  15.

  	
  Counterparts.

  	
  12

  
	
   

  	
   

  	
   

  
	
  16.

  	
  Severability.

  	
  12

  
	
   

  	
   

  	
   

  
	
  17.

  	
  Not Applicable
  to New Holland Credit Company, LLC in Other Capacities.

  	
  12

  
	
   

  	
   

  	
   

  
	
  18.

  	
  Limitation of
  Liability of the Trustee and the Indenture Trustee.

  	
  12

  
	
   

  	
   

  	
   

  
	
  19.

  	
  Third-Party
  Beneficiary.

  	
  13

  
	
   

  	
   

  	
   

  
	
  20.

  	
  Indemnification.

  	
  13

  
	
   

  	
   

  	
   

  
	
  21.

  	
  Information
  Requests.

  	
  13

  

 

ADMINISTRATION AGREEMENT dated as of
March 1, 2007, among CNH EQUIPMENT TRUST 2007-A, a Delaware statutory trust
(the “ Issuing Entity “), NEW HOLLAND CREDIT COMPANY, LLC, a Delaware limited
liability company, as administrator (the “ Administrator “), THE BANK OF NEW
YORK TRUST COMPANY, N.A., a national banking association, not in its individual
capacity but solely as Indenture Trustee (the “ Indenture Trustee “), and
Wilmington Trust Company, not in its individual capacity but solely as Trustee
under the Trust Agreement (the “ Trustee “).

RECITALS

WHEREAS,
the Issuing Entity is issuing: (a) 5.26338%
Class A-1 Asset Backed Notes, 5.13% Class A-2 Asset Backed Notes, 4.99% Class
A-3 Asset Backed Notes, Floating Rate Class A-4 Asset Backed Notes,
(collectively, the “ Class A Notes “) and 5.09% Class B Asset Backed Notes (the
“ Class B Notes “ and, together with the Class A Notes, the “ Notes “) pursuant
to the Indenture, dated as of the date hereof (as amended and supplemented from
time to time in accordance with the provisions thereof, the “ Indenture “),
between the Issuing Entity and the Indenture Trustee (capitalized terms used
herein and not otherwise defined herein are defined in Appendix A to the
Indenture, and the provisions of Section 1.3 of the Indenture shall be
incorporated herein).

WHEREAS,
the Issuing Entity has entered into certain agreements in connection with the
issuance of the Notes and of certain beneficial ownership interests of the
Issuing Entity, including: (i) a Sale and Servicing Agreement, dated as of the
date hereof (as amended and supplemented from time to time, the “ Sale and
Servicing Agreement “), among the Issuing Entity, New Holland Credit Company,
LLC, as servicer (the “ Servicer “), and CNH Capital Receivables LLC, a
Delaware limited liability company, as seller (the “ Seller “), (ii) a
Depository Agreement, dated March 16, 2007 (the “Depository Agreement “), among
the Issuing Entity and The Depository Trust Company, (iii) the Indenture and
(iv) a Trust Agreement, dated as of the date hereof (the “ Trust Agreement “),
between the Seller and the Trustee (the Sale and Servicing Agreement, the
Depository Agreement, the Indenture and the Trust Agreement being hereinafter
referred to collectively as the “ Related Agreements “);

WHEREAS,
pursuant to the Related Agreements, the Issuing Entity and the Trustee are
required to perform certain duties in connection with: (a) the Notes and the
collateral therefor pledged pursuant to the Indenture (the “ Collateral “) and
(b) the beneficial ownership interests in the Issuing Entity (the registered
holders of such interests being referred to herein as the “ Owners “);

WHEREAS,
the Issuing Entity and the Trustee desire to have the Administrator perform
certain of the duties of the Issuing Entity and the Trustee referred to in the
preceding clause, and to provide such additional services consistent with this
Agreement and the Related Agreements as the Issuing Entity and the Trustee may
from time to time request;

WHEREAS,
the Administrator has the capacity to provide the services required hereby and
is willing to perform such services for the Issuing Entity and the Trustee on
the terms set forth herein;

    
 

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

1.                                      Duties
of the Administrator.

(a)                                  Duties
with Respect to the Indenture and the Depository Agreement. The
Administrator shall perform all of its duties as Administrator and the duties
of the Issuing Entity and the Trustee under the Indenture and the Depository
Agreement. In addition, the Administrator shall consult with the Trustee
regarding the duties of the Issuing Entity and the Trustee under such
documents. The Administrator shall monitor the performance of the Issuing
Entity and shall advise the Trustee when action is necessary to comply with the
Issuing Entity’s or the Trustee’s duties under such documents. The
Administrator shall prepare for execution by the Issuing Entity or shall cause
the preparation by other appropriate persons of all such documents, reports,
filings, instruments, certificates and opinions as it shall be the duty of the
Issuing Entity or the Trustee to prepare, file or deliver pursuant to such
documents. In furtherance of the foregoing, the Administrator shall take all
appropriate action that is the duty of the Issuing Entity or the Trustee to
take pursuant to such documents, including, without limitation, such of the
foregoing as are required with respect to the following matters (references in
this Section are to sections of the Indenture):

(i)                                     the
duty to cause the Note Register to be kept and to give the Indenture Trustee
notice of any appointment of a new Note Registrar and the location, or change
in location, of the Note Register (Section 2.4);

(ii)                                  the
fixing or causing to be fixed of any specified record date and the notification
of the Indenture Trustee and Noteholders with respect to special payment dates,
if any (Section 2.7(c));

(iii)                               the
preparation of or obtaining of the documents and instruments required for
authentication of the Notes and delivery of the same to the Indenture Trustee
(Section 2.2);

(iv)                              the
preparation, obtaining or filing of the instruments, opinions, certificates and
other documents required for the release of the Collateral (Section 2.9);

(v)                                 [reserved];

(vi)                              the
duty to cause newly appointed Paying Agents, if any, to deliver to the
Indenture Trustee the instrument specified in the Indenture regarding funds
held in trust (Section 3.3);

(vii)                           the
direction to the Paying Agents to deposit monies with the Indenture Trustee
(Section 3.3);

(viii)                        the
obtaining and preservation of the Issuing Entity’s qualification to do business
in each jurisdiction in which such qualification is or shall be

 2
 

necessary to
protect the validity and enforceability of the Indenture, the Notes, the
Collateral and each other instrument and agreement included in the Trust Estate
(Section 3.4);

(ix)                                the
preparation of all supplements, amendments, financing statements, continuation
statements, instruments of further assurance and other instruments, in
accordance with Section 3.5 of the Indenture, necessary to protect the Trust
Estate (Section 3.5);

(x)                                   the
delivery of the Opinion of Counsel on the Closing Date and the annual delivery
of Opinions of Counsel, in accordance with Section 3.6 of the Indenture, as to
the Trust Estate, and the annual delivery of the Officer’s Certificate and
certain other statements, in accordance with Section 3.9 of the Indenture, as
to compliance with the Indenture (Sections 3.6 and 3.9);

(xi)                                the
identification to the Indenture Trustee in an Officer’s Certificate of a Person
with whom the Issuing Entity has contracted to perform its duties under the
Indenture (Section 3.7(b));

(xii)                             the
notification of the Indenture Trustee, the Counterparty and the Rating Agencies
of a Servicer Default pursuant to the Sale and Servicing Agreement and, if such
Servicer Default arises from the failure of the Servicer to perform any of its
duties under the Sale and Servicing Agreement, the taking of all reasonable
steps available to remedy such failure (Section 3.7(d));

(xiii)                          the
preparation and obtaining of documents and instruments required for the release
of the Issuing Entity from its obligations under the Indenture (Section
3.10(b));

(xiv)                         the
delivery of notice to the Indenture Trustee, the Counterparty and the Rating
Agencies of (a) each Event of Default under the Indenture, (b) each default by
the Servicer or Seller under the Sale and Servicing Agreement and (c) each
default by CNHCA under the Purchase Agreement (Section 3.19);

(xv)                            the
monitoring of the Issuing Entity’s obligations as to the satisfaction and
discharge of the Indenture and the preparation of an Officer’s Certificate and
the obtaining of the Opinion of Counsel and the Independent Certificate
relating thereto (Section 4.1);

(xvi)                         the
compliance with any written directive of the Indenture Trustee with respect to
the sale of the Trust Estate in a commercially reasonable manner if an Event of
Default shall have occurred and be continuing (Section 5.4);

(xvii)                      the
furnishing to the Indenture Trustee of the names and addresses of Noteholders
during any period when the Indenture Trustee is not the Note Registrar (Section
7.1);

 3
 

(xviii)                   the
preparation, execution and filing with the Commission and the Indenture Trustee
of documents required to be filed on a periodic basis with, and summaries
thereof as may be required by rules and regulations prescribed by, the
Commission and the transmission of such summaries, as necessary, to the
Noteholders (Section 7.3);

(xix)                           the
opening of one or more accounts in the Trust’s name, the preparation of Issuing
Entity Orders, Officer’s Certificates and Opinions of Counsel and all other
actions necessary with respect to investment and reinvestment of funds in the
Trust Accounts (Sections 8.2 and 8.3);

(xx)                              the
preparation of an Issuing Entity Request and Officer’s Certificate and the
obtaining of an Opinion of Counsel and Independent Certificates, if necessary,
for the release of the Trust Estate as defined in the Indenture (Sections 8.4
and 8.5);

(xxi)                           the
preparation of Issuing Entity Orders and the obtaining of Opinions of Counsel
with respect to the execution of supplemental indentures and the mailing to the
Noteholders of notices with respect to such supplemental indentures (Sections
9.1, 9.2 and 9.3);

(xxii)                        the
execution and delivery of new Notes conforming to any supplemental indenture
(Section 9.6);

(xxiii)                     the notification
of Noteholders of redemption of the Notes or the duty to cause the Indenture
Trustee to provide such notification (Section 10.2);

(xxiv)                    the
preparation of all Officer’s Certificates, Opinions of Counsel and Independent
Certificates with respect to any requests by the Issuing Entity to the
Indenture Trustee to take any action under the Indenture (Section 11.1(a));

(xxv)                       the
preparation and delivery of Officer’s Certificates and the obtaining of
Independent Certificates, if necessary, for the release of property from the
Lien of the Indenture (Section 11.1(b));

(xxvi)                    the
preparation and delivery to Noteholders and the Indenture Trustee of any
agreements with respect to alternate payment and notice provisions (Section
11.6); and

(xxvii)                 the recording of
the Indenture, if applicable (Section 11.15).

(b)                                 Duties
with Respect to the Trust. (i)  In
addition to the duties of the Administrator set forth above, the Administrator
shall perform such calculations, and shall prepare for execution by the Issuing
Entity or the Trustee or shall cause the preparation by other appropriate
persons of all such documents, reports, filings, instruments, certificates and
opinions, as it shall be the duty of the Issuing Entity or the Trustee to
perform, prepare, file or deliver pursuant to the Related

 4
 

Agreements,
and at the request of the Trustee shall take all appropriate action that it is
the duty of the Issuing Entity or the Trustee to take pursuant to the Related
Agreements. Subject to  Section 5 of this
Agreement, the Administrator shall administer, perform or supervise the
performance of such other activities in connection with the Collateral
(including the Related Agreements) as are not covered by any of the foregoing
and as are expressly requested by the Trustee and are reasonably within the
capability of the Administrator.

(ii)                                  Notwithstanding
anything in this Agreement or the Related Agreements to the contrary, if any
Certificates are held by any Person other than the Depositor the Administrator
shall be responsible for promptly notifying the Trustee in the event that any
withholding tax is imposed on the Trust’s payments (or allocations of income)
to an Owner as contemplated in Section 5.2(c) of the Trust Agreement. Any such
notice shall specify the amount of any withholding tax required to be withheld
by the Trustee pursuant to such provision.

(iii)                               Notwithstanding
anything in this Agreement or the Related Agreements to the contrary, the
Administrator shall be responsible for performance of the duties of the Trustee
(if any) set forth in Sections 5.2(a), (b) and (c), the first sentence of
Section 5.5 and Section 5.6(a) of the Trust Agreement with respect to, among
other things, accounting and reports to Owners; provided, however, that the
Trustee shall retain responsibility for the distribution of the Schedule K-1s
necessary to enable each Owner to prepare its federal and state income tax
returns.

(iv)                              If
any Certificates are held by any Person other than the Depositor, the
Administrator shall satisfy its obligations with respect to  clauses (ii) 
and  (iii)  by retaining, at the expense of the Trust
payable by the Servicer, a firm of Independent certified public accountants
(the “ Accountants “) reasonably acceptable to the Trustee, which Accountants
shall perform the obligations of the Administrator thereunder. In connection
with  clause (ii) , the Accountants will
provide, on or prior to the date on which the Trustee receives its notice from
the Administrator under such clause, a letter in form and substance satisfactory
to the Trustee as to whether any tax withholding is then required and, if
required, the procedures to be followed with respect thereto to comply with the
requirements of the Code. The Accountants shall be required to update the
letter in each instance that any additional tax withholding is subsequently
required or any previously required tax withholding shall no longer be
required.

(v)                                 The
Administrator shall perform the duties of the Administrator specified in
Section 10.2 of the Trust Agreement required to be performed in connection with
the resignation or removal of the Trustee, and any other duties expressly
required to be performed by the Administrator under the Trust Agreement.

(vi)                              In
carrying out the foregoing duties or any of its other obligations under this
Agreement, the Administrator may enter into transactions with or otherwise deal
with any of its affiliates;  provided,
however , that the terms of any such transactions or dealings shall be in accordance
with any directions received

 5
 

from the
Issuing Entity and shall be, in the Administrator’s opinion, no less favorable
to the Issuing Entity than would be available from unaffiliated parties.

(vii)                           The
Administrator hereby agrees to execute on behalf of the Issuing Entity all such
documents, reports, filings, instruments, certificates and opinions as it shall
be the duty of the Issuing Entity to prepare, file or deliver pursuant to the
Basic Documents or otherwise by law.

(c)                                  Non-Ministerial
Matters. (i)  With respect to matters
that in the reasonable judgment of the Administrator are non-ministerial, the
Administrator shall not take any action unless within a reasonable time before
the taking of such action the Administrator shall have notified the Trustee of
the proposed action and the Trustee shall not have withheld consent or provided
an alternative direction. For the purpose of the preceding sentence, “non-ministerial
matters” shall include, without limitation:

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

(B)                                the
initiation of any claim or lawsuit by the Issuing Entity and the compromise of
any action, claim or lawsuit brought by or against the Issuing Entity (other
than in connection with the collection of the Receivables);

(C)                                the
amendment, change or modification of the Related Agreements;

(D)                               the
appointment of successor Note Registrars, successor Paying Agents and successor
Trustees pursuant to the Indenture or the appointment of successor
Administrators or successor Servicers, or the consent to the assignment by the
Note Registrar, Paying Agent or Indenture Trustee of its obligations under the
Indenture; and

(E)                                 the
removal of the Indenture Trustee.

(ii)                                  Notwithstanding
anything to the contrary in this Agreement, the Administrator shall not be
obligated to, and shall not: (x) make any payments to the Noteholders under the
Related Agreements, (y) sell the Trust Estate pursuant to Section 5.4 of the
Indenture or (z) take any other action that the Issuing Entity directs the
Administrator not to take on its behalf.

2.                                      Records.  The Administrator shall maintain appropriate
books of account and records relating to services performed hereunder, which
books of account and records shall be accessible for inspection by the Issuing
Entity, the Indenture Trustee and the Depositor at any time during normal
business hours.

3.                                      Compensation.  As compensation for the performance of the
Administrator’s obligations under this Agreement and as reimbursement for its
expenses related thereto, the Administrator shall be entitled to $500 per
quarter payable in arrears on each Payment Date, which payment shall be solely
an obligation of the Issuing Entity.

 6
 

4.                                      Additional
Information to Be Furnished to the Issuing Entity.  The Administrator shall furnish to the
Issuing Entity from time to time such additional information regarding the
Collateral as the Issuing Entity shall reasonably request.

5.                                      Independence
of the Administrator.  For all
purposes of this Agreement, the Administrator shall be an independent
contractor and shall not be subject to the supervision of the Issuing Entity or
the Trustee with respect to the manner in which it accomplishes the performance
of its obligations hereunder. Unless expressly authorized by the Issuing
Entity, the Administrator shall have no authority to act for or represent the
Issuing Entity or the Trustee in any way (other than as permitted hereunder)
and shall not otherwise be deemed an agent of the Issuing Entity or the
Trustee.

6.                                      No
Joint Venture.  Nothing contained
in this Agreement:  (i) shall constitute
the Administrator and either of the Issuing Entity or the Trustee as members of
any partnership, joint venture, association, syndicate, unincorporated business
or other separate entity, (ii) shall be construed to impose any liability as
such on any of them or (iii) shall be deemed to confer on any of them any
express, implied or apparent authority to incur any obligation or liability on
behalf of the others.

7.                                      Other
Activities of the Administrator. 
Nothing herein shall prevent the Administrator or its Affiliates from
engaging in other businesses or, in their sole discretion, from acting in a
similar capacity as an administrator for any other Person even though such
Person may engage in business activities similar to those of the Issuing
Entity, the Trustee or the Indenture Trustee.

8.                                      Term
of Agreement; Resignation and Removal of the Administrator.  (a) 
This Agreement shall continue in force until the dissolution of the
Issuing Entity, upon which event this Agreement shall automatically terminate.

(b)                                 Subject to Section
8(e), the Administrator may resign its duties hereunder by providing the
Issuing Entity, the Trustee, the Indenture Trustee, the Counterparty and the
Servicer with at least 60 days’ prior written notice.

(c)                                  Subject to Section
8(e), the Issuing Entity may remove the Administrator without cause by
providing the Administrator, the Trustee, the Indenture Trustee, the
Counterparty and the Servicer with at least 60 days’ prior written notice.

(d)                                 Subject to Section
8(e), at the sole option of the Issuing Entity, the Administrator may be
removed immediately upon written notice of termination from the Issuing Entity
to the Administrator, the Trustee, the Indenture Trustee, the Counterparty and
the Servicer if any of the following events shall occur:

(i)                                     the Administrator
shall default in the performance of any of its duties under this Agreement and,
after notice of such default, shall not cure such default within ten days (or,
if such default cannot be cured in such time, shall not give within ten days
such assurance of cure as shall be reasonably satisfactory to the Issuing
Entity);

 7
 

(ii)                                  a court having
jurisdiction in the premises shall enter a decree or order for relief, and such
decree or order shall not have been vacated within 60 days, in respect of the Administrator
in any involuntary case under any applicable bankruptcy, insolvency or other
similar law now or hereafter in effect or appoint a receiver, liquidator,
assignee, custodian, trustee, sequestrator or similar official for the
Administrator or any substantial part of its property or order the winding-up
or liquidation of its affairs; or

(iii)                               the Administrator shall
commence a voluntary case under any applicable bankruptcy, insolvency or other
similar law now or hereafter in effect, shall consent to the entry of an order
for relief in an involuntary case under any such law, or shall consent to the
appointment of a receiver, liquidator, assignee, trustee, custodian,
sequestrator or similar official for the Administrator or any substantial part
of its property, shall consent to the taking of possession by any such official
of any substantial part of its property, shall make any general assignment for
the benefit of creditors or shall fail generally to pay its debts as they
become due.

The Administrator agrees that if any of the events specified in clauses
(ii) or (iii) of this subsection shall occur, it shall give written notice
thereof to the Issuing Entity, the Servicer, the Counterparty, the Trustee and
the Indenture Trustee within seven days after the happening of such event.

(e)                                  Upon the
Administrator’s receipt of notice of termination, pursuant to Sections 8(c) or
(d), or the Administrator’s resignation in accordance with this Agreement, the
predecessor Administrator shall continue to perform its functions as
Administrator under this Agreement, in the case of termination, only until the
date specified in such termination notice or, if no such date is specified in a
notice of termination, until receipt of such notice and, in the case of
resignation, until the later of: (x) the date 45 days from the delivery to the
Issuing Entity, the Counterparty, the Trustee, the Indenture Trustee and the
Servicer of written notice of such resignation (or written confirmation of such
notice) in accordance with this Agreement and (y) the date upon which the
predecessor Administrator shall become unable to act as Administrator, as
specified in the notice of resignation and accompanying Opinion of Counsel. In
the event of the Administrator’s termination hereunder, the Issuing Entity
shall appoint a successor Administrator acceptable to the Indenture Trustee,
and the successor Administrator shall accept its appointment by a written
assumption in form acceptable to the Indenture Trustee. In the event that a
successor Administrator has not been appointed at the time when the predecessor
Administrator has ceased to act as Administrator in accordance with this
Section, and if the Backup Servicer is serving as the Successor Servicer under
the Transaction Documents, the Indenture Trustee without further action shall
automatically be appointed the successor Administrator and the Indenture
Trustee shall be entitled to the compensation specified in  Section 3. 
Notwithstanding the above, the Indenture Trustee shall, if it shall be
unable so to act, appoint or petition a court of competent jurisdiction to
appoint any established institution having a net worth of not less than
$50,000,000 and whose regular business shall include the performance of
functions similar to those of the Administrator, as the successor to the
Administrator under this Agreement.

 8
 

(f)                                    Upon appointment,
the successor Administrator (including the Indenture Trustee acting as
successor Administrator) shall be the successor in all respects to the
predecessor Administrator and shall be subject to all the responsibilities,
duties and liabilities arising thereafter relating thereto placed on the
predecessor Administrator and shall be entitled to the compensation specified
in  Section 3  and all the rights granted to the predecessor
Administrator by the terms and provisions of this Agreement.

(g)                                 Except when and if the
Indenture Trustee is appointed successor Administrator, the Administrator may
not resign unless it is prohibited from serving as such by law as evidenced by
an Opinion of Counsel to such effect delivered to the Indenture Trustee. No
resignation or removal of the Administrator pursuant to this Section shall be
effective until: (i) a successor Administrator shall have been appointed by the
Issuing Entity and (ii) such successor Administrator shall have agreed in
writing to be bound by the terms of this Agreement in the same manner as the
Administrator is bound hereunder.

(h)                                 The appointment of any
successor Administrator shall be effective only after satisfaction of the
Rating Agency Condition with respect to the proposed appointment.

9.                                      Action
upon Termination, Resignation or Removal.  Promptly upon the effective date of
termination of this Agreement pursuant to Section 8(a), or the resignation or
removal of the Administrator pursuant to Section 8(b) or (c), respectively, the
Administrator shall be entitled to be paid all fees and reimbursable expenses
accruing to it to the date of such termination, resignation or removal. The
Administrator shall forthwith upon such termination pursuant to Section 8(a)
deliver to the Issuing Entity all property and documents of or relating to the
Collateral then in the custody of the Administrator. In the event of the
resignation or removal of the Administrator pursuant to Section 8(b) or (c),
respectively, the Administrator shall cooperate with the Issuing Entity and the
Indenture Trustee and take all reasonable steps requested to assist the Issuing
Entity and the Indenture Trustee in making an orderly transfer of the duties of
the Administrator.

10.                               Notices.  Any notice, report or other communication
given hereunder shall be in writing and addressed as follows:

(a)                                  if to the Issuing
Entity or the Trustee, to:

CNH Equipment Trust 2007-A

c/o Wilmington Trust Company

Rodney Square North

1100 North Market Street

Wilmington, Delaware 
19890-0001

Attention: Corporate
Trust Administrator

(b)                                 if to the
Administrator, to:

New Holland Credit Company, LLC

33 South Railroad Avenue

New Holland, Pennsylvania  17557

 9
 

Attention: Finance
Manager

with a copy to:

New Holland Credit Company, LLC

100 South Saunders Road

Lake Forest, Illinois 
60045

Attention: Senior Counsel

	
  (c)

  	
   

  	
  if to the Indenture Trustee, to:

  
	
   

  	
   

  	
   

  
	
   

  	
  The Bank of New
  York Trust Company, N.A.

  
	
   

  	
  2 North LaSalle
  Street

  
	
   

  	
  Suite 1020

  
	
   

  	
  Chicago,
  Illinois 60602

  
	
   

  	
  Attention:
  Structured Finance-ABS

  
	
   

  	
   

  
	
  (d)

  	
   

  	
  if to the Counterparty, to:

  
	
   

  	
   

  
	
   

  	
  Credit Suisse
  International

  
	
   

  	
  One Cabot Square

  
	
   

  	
  London E14 4QJ

  
	
   

  	
  England

  
	
   

  	
  Attention:

  
	
   

  	
   

  	
  (1) Head of
  Credit Risk Management;

  
	
   

  	
   

  	
  (2) Managing
  Director - Operations Department;

  
	
   

  	
   

  	
  (3) Managing
  Director - Legal Department

  
	
   

  	
  Telex No.:

  	
  264521

  
	
   

  	
  Answerback:

  	
  CSI G

  
	
   

  	
   

  	
   

  
	
  

  	
  with a copy to:

  	 

	
   

  	
   

  	 

	
   

  	
  Facsimile No.:44 20 7888 2686

  	 

	
   

  	
  Attention:

  	
  Managing Director - Legal Department

  	 

	
   

  	
  Telephone number
  for oral confirmation of receipt of facsimile in

  	 

	
   

  	
   

  	
  legible form: 44
  20 7888 2028

  	 

								

 

or to such other address
as any party shall have provided to the other parties in writing. Any notice
required to be in writing hereunder shall be deemed given if such notice is
mailed by certified mail, postage prepaid, or hand-delivered to the address of
such party as provided above.

11.                               Amendments.  This Agreement may be amended from time to
time by a written amendment duly executed with the prior written notice to the
Counterparty and delivered by the Issuing Entity, the Administrator and the
Indenture Trustee, with the written consent of the Trustee, but without the
consent of any of the Noteholders or the Certificateholders, to cure any
ambiguity, to correct or supplement provisions of this

 10
 

Agreement
or for the purpose of adding any provisions to or changing in any manner or
eliminating any of the provisions of this Agreement or of modifying in any
manner the rights of the Noteholders or the Certificateholders;  provided, however , that such amendment shall
not, as evidenced by an Officer’s Certificate of the Administrator, adversely
affect in any material respect the interests of any Noteholder or
Certificateholder.  An amendment shall be
deemed not to adversely affect in any material respect the interests of any
Class of Notes if the Rating Agency Condition has been satisfied with respect
to such amendment for such Class of Notes.

This Agreement may also be amended from time to time by the Issuing
Entity, the Administrator and the Indenture Trustee with the written consent of
(w) the Trustee, (x) Noteholders holding Notes evidencing not less than a
majority of the Note Balance and (y) the Certificateholders holding in the aggregate
more than 50% of the beneficial interest in the Issuing Entity at the time of
such amendment, for the purpose of adding any provisions to or changing in any
manner or eliminating any of the provisions of this Agreement or of modifying
in any manner the rights of the Noteholders or the Certificateholders;
provided, however, that no such amendment shall: (i) reduce the interest rate
or principal of any Note, or delay the Class Final Maturity Date of any Note or
(ii) reduce the aforesaid percentage of the Holders of Notes and Certificates
that are required to consent to any such amendment, without the consent of the
Holders of all the outstanding Notes and Certificates. Notwithstanding the
foregoing, the Administrator may not amend this Agreement without the
permission of the Depositor, which permission shall not be unreasonably
withheld.

Promptly after the execution of any such amendment or consent (or, in
the case of the Rating Agencies and the Counterparty, 10 days prior thereto),
the Administrator shall furnish written notification of the substance of such
amendment or consent to each Certificateholder, the Trustee, the Indenture
Trustee, each of the Rating Agencies and the Counterparty.

It shall not be necessary for the consent of the Certificateholders or
the Noteholders pursuant to this Section to approve the particular form of any
proposed amendment or consent, but it shall be sufficient if such consent shall
approve the substance thereof.

Notwithstanding anything herein to the contrary, any term or provision
of this Agreement may be amended by the Administrator without the consent of
the Certificateholders, the Noteholders or any other Person to add, modify or
eliminate any provisions as may be necessary or advisable in order to comply
with or obtain more favorable treatment under or with respect to any law or
regulation or any accounting rule or principle (whether now or in the future in
effect); it being a condition to any such amendment that the Rating Agency
Condition shall have been satisfied.

If any amendment or supplement would either: (1) materially and
adversely affect any of the Counterparty’s rights or obligations under the
Interest Rate Swap Agreement or any other Basic Document; or (b) materially and
adversely modify the obligations of, or materially and adversely impact the
ability of, the Trust to fully perform any of the Trust’s obligations under the
Interest Rate Swap Agreement, the Trust and the Indenture Trustee shall be
required to first obtain the written consent of the Counterparty before
entering into any such amendment or supplement.

 11
 

12.                               Successors
and Assigns.  This Agreement may
not be assigned by the Administrator unless such assignment is previously
consented to in writing by the Issuing Entity, the Indenture Trustee and the Trustee
and subject to the satisfaction of the Rating Agency Condition in respect
thereof. An assignment with such consent and satisfaction, if accepted by the
assignee, shall bind the assignee hereunder in the same manner as the
Administrator is bound hereunder. 
Notwithstanding the foregoing, this Agreement may be assigned by the
Administrator without the consent of the Issuing Entity or the Trustee to a
corporation or other organization that is a successor (by merger, consolidation
or purchase of assets) to the Administrator, provided that such successor
organization executes and delivers to the Issuing Entity, the Trustee and the
Indenture Trustee an agreement in which such corporation or other organization
agrees to be bound hereunder by the terms of said assignment in the same manner
as the Administrator is bound hereunder. 
Subject to the foregoing, this Agreement shall bind any successors or
assigns of the parties hereto.

13.                               Governing
Law.  This Agreement shall be
construed in accordance with the laws of the State of New York, and the
obligations, rights and remedies of the parties hereunder shall be determined
in accordance with such laws.

14.                               Headings.  The section headings hereof have been
inserted for convenience of reference only and shall not be construed to affect
the meaning, construction or effect of this Agreement.

15.                               Counterparts.  This Agreement may be executed in
counterparts, all of which when so executed shall together constitute but one
and the same agreement.

16.                               Severability.  Any provision of this Agreement that is
prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction,
be ineffective to the extent of such prohibition or unenforceability without
invalidating the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction.

17.                               Not
Applicable to New Holland Credit Company, LLC in Other Capacities.  Nothing in this Agreement shall affect any
obligation New Holland Credit Company, LLC may have in any other capacity.

18.                               Limitation
of Liability of the Trustee and the Indenture Trustee.  (a) 
Notwithstanding anything contained herein to the contrary, this
instrument has been countersigned by Wilmington Trust Company, not in its
individual capacity but solely in its capacity as Trustee of the Issuing
Entity, and in no event shall Wilmington Trust Company, in its individual
capacity, or any beneficial owner of the Issuing Entity have any liability for
the representations, warranties, covenants, agreements or other obligations of
the Issuing Entity hereunder, as to all of which recourse shall be had solely
to the assets of the Issuing Entity. For all purposes of this Agreement, in the
performance of any duties or obligations of the Issuing Entity thereunder, the
Trustee shall be subject to, and entitled to the benefits of, the terms and
provisions of Articles VI, VII and VIII of the Trust Agreement.

 12
 

(b)                                 Notwithstanding
anything contained herein to the contrary, this Agreement has been
countersigned by The Bank of New York Trust Company, N.A., not in its
individual capacity but solely as Indenture Trustee, and in no event shall The
Bank of New York Trust Company, N.A. have any liability for the representations,
warranties, covenants, agreements or other obligations of the Issuing Entity
hereunder or in any of the certificates, notices or agreements delivered
pursuant hereto, as to all of which recourse shall be had solely to the assets
of the Issuing Entity.

19.                               Third-Party
Beneficiary.  The Trustee is a
third-party beneficiary to this Agreement and is entitled to the rights and
benefits hereunder and may enforce the provisions hereof as if it were a party
hereto.

20.                               Indemnification.  The Administrator shall indemnify the Trustee
and the Indenture Trustee (and their officers, directors, employees and agents)
for, and hold them harmless against, any losses, liability or expense,
including attorneys’ fees reasonably incurred by them, incurred without
negligence or bad faith on their part, arising out of or in connection with:
(i) actions taken by either of them pursuant to instructions given by the
Administrator pursuant to this Agreement or (ii) the failure of the
Administrator to perform its obligations hereunder. The indemnities contained
in this Section shall survive the termination of this Agreement and the
resignation or removal of the Administrator, the Trustee or the Indenture
Trustee.

21.                               Information
Requests.  The parties hereto
shall provide any information reasonably requested by the Administrator or any
of its Affiliates, at the expense of the Administrator or any of its
Affiliates, as applicable, in order to comply with or obtain more favorable
treatment under any current or future law, rule, regulation, accounting rule or
principle.

*   *  
*   *   *

 13

 

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

	
   

  	
  CNH EQUIPMENT TRUST 2007-A

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  Wilmington Trust Company,

  	
   

  	
   

  
	
   

  	
   

  	
  not in its individual capacity but solely as Trustee
  on behalf of the Issuing Entity

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ J. Christopher Murphy

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  	
  J. Christopher Murphy

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Financial Services Officer

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  THE BANK OF NEW YORK TRUST

  COMPANY, N.A.

  	
   

  	
   

  
	
   

  	
   

  	
  not in its individual capacity but solely as

  	
   

  	
   

  
	
   

  	
   

  	
  Indenture Trustee

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Keith Richardson

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Keith Richardson

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Vice President

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  NEW HOLLAND CREDIT COMPANY, LLC.

  	
   

  	
   

  
	
   

  	
   

  	
  as Administrator

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Brian J. O’Keane

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Brian J. O’Keane

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Treasurer

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  WILMINGTON TRUST COMPANY,

  	
   

  	
   

  
	
   

  	
   

  	
  not in its individual capacity but solely as

  	
   

  	
   

  
	
   

  	
   

  	
  Trustee under the Trust Agreement

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ J. Christopher Murphy

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  	
  J. Christopher Murphy

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Financial Services Officer

  	
   

  	
   

  
									

 

 S-1

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