Document:

exv10w2

Subscription Agreement

September ___, 2009

     This Subscription Agreement (this “Agreement”) is dated September ___, 2009, by and
between the investor identified on the signature page hereto (the “Investor”) and Majesco
Entertainment Company, a Delaware corporation (the “Company”), whereby the parties agree as
follows:

     1. Subscription.

          (a) Investor agrees to buy and the Company agrees to sell and issue to Investor (i) such
number of shares (the “Shares”) of common stock, par value $0.001 per share (“Common
Stock”), set forth on the signature page hereto, for an aggregate purchase price set forth on
the signature page hereto (the “Aggregate Purchase Price”).

          (b) The Company represents and warrants that the Shares have been registered on a Registration
Statement on Form S-3, Registration No. 333-159980, which registration statement (the
“Registration Statement”) has been declared effective by the Securities and Exchange
Commission (the “SEC”) and has remained effective since such date and is effective on the
date hereof, and are being offered and sold (the “Offering”) pursuant to the Registration
Statement (including the prospectus contained therein (the “Base Prospectus”) and a
Prospectus Supplement (the “Prospectus Supplement”) and together with the Base Prospectus,
the “Prospectus”) containing certain supplemental information regarding the Shares and
terms of the Offering that has been or will be filed with the SEC and delivered to the Investor (or
made available to the Investor by the filing by the Company of an electronic version thereof with
the SEC).

          (c) ON EXCHANGE OF SIGNATURE PAGES OF THIS SUBSCRIPTION AGREEMENT BUT IN NO EVENT LATER THAN
SEPTEMBER 18, 2009, THE INVESTOR SHALL INITIATE WIRE TRANSFER INTO ESCROW, PURSUANT TO AN ESCROW
AGREEMENT, DATED OF EVEN DATE HEREWITH, BY AND AMONG THE ESCROW AGENT, THE PLACEMENT AGENT AND THE
COMPANY, THE AMOUNT OF FUNDS EQUAL TO THE AGGREGATE PURCHASE PRICE FOR THE SHARES BEING PURCHASED
BY THE INVESTOR TO THE FOLLOWING ACCOUNT DESIGNATED BY THE COMPANY:

JP MORGAN CHASE BANK

ABA # 

ACCT: 

AMERICAN STOCK TRANSFER & TRUST COMPANY

AS AGENT FOR MAJESCO ENTERTAINMENT COMPANY

          Such funds shall be delivered unless (i) the Placement Agency Agreement (the “Placement
Agreement”) between the Company and the placement agent engaged by the Company in connection
with the sale and issuance of the Shares (the “Placement Agent”) is terminated pursuant to
the terms thereof or (ii) the conditions to closing in the Placement Agreement have not been
satisfied. The Company’s obligation to issue the Shares to the Investor

 

 

will be subject to (i) the receipt by the Company of the Aggregate Purchase Price for the Shares
being purchased hereunder as set forth on the signature page, (ii) the accuracy of the
representations and warranties made by the Investor in this Agreement, and (iii) the Registration
Statement remaining in effect and no stop order proceedings with respect thereto being pending or
threatened. The Company proposes to enter into substantially this same form of Agreement with
certain other investors and the Investor’s obligations are expressly not conditioned on the
purchase by any or all such other investors of the Shares that they have agreed to purchase from
the Company. The Placement Agent shall have no rights in or to any of the funds, except in respect
of the Company’s obligation to pay the Placement Agent’s fees.

          The Investor’s obligation to purchase the Shares will be subject to (i) the delivery by the
Company of the Shares in accordance with the provisions of this Agreement, (ii) the accuracy of the
representations and warranties made by the Company and the fulfillment of those undertakings of the
Company to be fulfilled prior to the Closing Date, including without limitation, those contained in
the Placement Agreement, (iii) the satisfaction of the conditions to the closing set forth in the
Placement Agreement, and to the condition that the Placement Agent shall not have: (x) terminated
the Placement Agreement pursuant to the terms thereof or (y) determined that the conditions to the
closing in the Placement Agreement have not been satisfied. The Investor’s obligations are
expressly not conditioned on the purchase by any or all of the Other Investors of the Shares that
they have agreed to purchase from the Company. The Investor understands and agrees that, in the
event that the Placement Agent in its sole discretion determines that the conditions to closing in
the Placement Agreement have not been satisfied or if the Placement Agreement may be terminated for
any other reason permitted by the Placement Agreement, then the Placement Agent may, but shall not
be obligated to, terminate such Agreement, which shall have the effect of terminating this
Subscription Agreement pursuant to Section 4(i) below.

          (d) NO LATER THAN ONE (1) BUSINESS DAY AFTER THE EXECUTION OF THIS AGREEMENT BY THE INVESTOR
AND THE COMPANY, THE INVESTOR SHALL DIRECT THE BROKER-DEALER AT WHICH THE ACCOUNT OR ACCOUNTS TO BE
CREDITED WITH THE SHARES ARE MAINTAINED TO SET UP A DEPOSIT/WITHDRAWAL AT CUSTODIAN
(“DWAC”) INSTRUCTING THE TRANSFER AGENT TO CREDIT SUCH ACCOUNT OR ACCOUNTS WITH THE SHARES
ON THE CLOSING DATE.

          (e) On the date of closing of the Offering, which shall be no later than three business days
after the date hereof (the “Closing Date”), the Company shall deliver to Investor (i) the
Shares via the Depository Trust Company’s (“DTC”) Deposit or Withdrawal at Custodian system
via the DTC instructions set forth on the signature page hereto, such Shares to be registered in
such name or names as designated by the Investor on the signature page hereto. The Shares shall be
unlegended and free of any resale restrictions.

     2. Company Representations and Warranties. The Company represents and warrants that:
(a) it has full right, power and authority to enter into this Agreement and to perform all of its
obligations hereunder; (b) this Agreement has been duly authorized and executed by and constitutes
a valid and binding agreement of the Company enforceable in accordance with its terms; (c) the
execution and delivery of this Agreement and the consummation of the

 

 

transactions contemplated hereby do not conflict with or result in a breach of (i) the Company’s
Restated Certificate of Incorporation or Restated By-Laws, (ii) any material agreement to which the
Company is a party or by which any of its property or assets is bound, or (iii) any laws,
regulations, rules or statutes applicable to the Company; (d) the Shares, have been duly authorized
for sale and issuance, and when the Shares are issued and delivered by the Company against payment
therefor pursuant to this Subscription, will be validly issued, fully paid and nonassessable; (e)
the Registration Statement and any post-effective amendment thereto, at the time it became
effective, did not contain any untrue statement of a material fact or omit to state a material fact
required to be stated therein or necessary to make the statements therein not misleading; (f) the
prospectus contained in the Registration Statement, as amended or supplemented, did not contain as
of the effective date thereof, and as of the date hereof does not contain, any untrue statement of
a material fact or omit to state a material fact necessary in order to make the statements therein,
in light of the circumstances under which they were made, not misleading; (g) there are no
preemptive rights or rights of first refusal held by stockholders of the Company and applicable to
the transactions contemplated hereby; and (h) neither it nor any officers or directors has provided
any of the Investors or their agents or counsel with any information that constitutes material,
nonpublic information (other than the existence of the transaction and issuance of the Shares, as
contemplated by this Agreement).

     3. Investor Representations, Warranties and Acknowledgments. The Investor represents
and warrants that: (a) it has full right, power and authority to enter into this Agreement and to
perform all of its obligations hereunder; (b) this Agreement has been duly authorized and executed
by the Investor and constitutes a valid and binding agreement of the Investor enforceable against
the Investor in accordance with its terms, except as enforceability may be limited by applicable
bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ and
contracting parties’ rights generally and except as enforceability may be subject to general
principles of equity (regardless of whether such enforceability is considered in a proceeding in
equity or at law) and except as to the enforceability of any rights to indemnification or
contribution that may be violative of the public policy underlying any law, rule or regulation
(including any federal or state securities law, rule or regulation); (c) the execution and delivery
of this Agreement and the consummation of the transactions contemplated hereby do not conflict with
or result in a breach of (i) the Investor’s certificate of incorporation or by-laws (or other
governing documents), (ii) any material agreement or any law or regulation to which the Investor is
a party or by which any of its property or assets is bound, or (iii) any laws, regulations, rules
or statutes applicable to the Investor; (d) it has had full access to and relied only upon the
Disclosure Package, including the Company’s periodic reports and other information incorporated by
reference therein, in connection with the Offering and was able to read, review, download and print
such materials. For purposes hereof, the term “Disclosure Package” means: (i) the Base
Prospectus (ii) if applicable, a preliminary prospectus supplement related to the Offering, (iii)
the Prospectus Supplement, and (iv) the pricing information contained in this Agreement; and (e)
the Investor is knowledgeable, sophisticated and experienced in making, and is qualified to make
decisions with respect to, investments in shares presenting an investment decision like that
involved in the purchase of the Shares including investments in securities issued by the Company
and investments in comparable companies, and has requested, received, reviewed and considered all
information it deemed relevant in making an informed decision to purchase the Shares. The Investor
represents that,

 

 

except as set forth below, (a) it has had no position, office or other material relationship within
the past three years with the Company or persons known to it to be affiliates of the Company, (b)
it is not a member of the Financial Industry Regulatory Authority, Inc. (“FINRA”) or an Associated
Person (as such term is defined under the FINRA’s NASD Membership and Registration Rules Section
1011) as of the Closing Date, [and (c) neither the Investor nor any group of investors (as
identified in a public filing made with the Commission) of which the Investor is a part in
connection with the Offering, acquired, or obtained the right to acquire, 20% or more of the Common
Stock (or securities convertible into or exercisable for Common Stock) or the voting power of the
Company on a post-transaction basis. Exceptions:

 

(If no exceptions, write “none.” If left blank, response will be deemed to be “none.”)]

     4. Miscellaneous.

          (a) This Agreement constitutes the entire understanding and agreement between the parties with
respect to its subject matter, and there are no agreements or understandings with respect to the
subject matter hereof which are not contained in this Agreement. This Agreement may be amended or
modified only in writing signed by the parties hereto.

          (b) This Agreement may be executed in any number of counterparts, all of which taken together
shall constitute one and the same instrument and shall become effective when counterparts have been
signed by each party and delivered to the other parties hereto, it being understood that all
parties need not sign the same counterpart. Execution may be made by delivery by facsimile or pdf
sent via electronic transmission.

          (c) The provisions of this Agreement are severable and, in the event that any court or
officials of any regulatory agency of competent jurisdiction shall determine that any one or more
of the provisions or part of the provisions contained in this Agreement shall, for any reason, be
held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or
unenforceability shall not affect any other provision or part of a provision of this Agreement and
this Agreement shall be reformed and construed as if such invalid or illegal or unenforceable
provision, or part of such provision, had never been contained herein, so that such provisions
would be valid, legal and enforceable to the maximum extent possible, so long as such construction
does not materially adversely effect the economic rights of either party hereto.

          (d) All communications hereunder, except as may be otherwise specifically provided herein,
shall be in writing and shall be mailed, hand delivered, sent by a recognized overnight courier
service such as Federal Express, or sent via facsimile and confirmed by letter, to the party to
whom it is addressed at the following addresses or such other address as such party may advise the
other in writing:

          To the Company: as set forth on the signature page hereto,

          with a copy (which shall not constitute notice) to:

 

 

Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.

The Chrysler Center

666 Third Avenue

New York, New York 10017

Attention: Todd E. Mason, Esq.

Facsimile: (212) 983-3115

           To the Investor: as set forth on the signature page hereto.

All notices hereunder shall be effective upon receipt by the party to which it is addressed.

          (e) This Agreement shall be governed by and interpreted in accordance with the internal laws
of the State of New York for contracts to be wholly performed in such state and without giving
effect to the principles thereof regarding the conflict of laws. Any legal action, suit or
proceeding arising out of or relating to this Agreement or the transactions contemplated hereby
shall only be instituted, heard and adjudicated (excluding appeals) in a state or federal court
located in the County of New York, State of New York, and each party hereto knowingly, voluntarily
and intentionally waives any objection which such party may now or hereafter have to the laying of
the venue of any such action, suit or proceeding, and irrevocably submits to the exclusive personal
jurisdiction of any such court in any such action, suit or proceeding. Service of process in
connection with any such action, suit or proceeding may be served on each party hereto anywhere in
the world by the same methods as are specified for the giving of notices under this Agreement.

          (f) The Company agrees that the Investor shall be a third party beneficiary of the
representations, warranties, covenants and agreements given by the Company in the Placement
Agreement.

          (g) This Agreement shall not be assigned by any party hereto, without the express prior
written consent of the Company or the Investor.

          (h) The Company and the Investor agree that the Company shall issue a press release announcing
the Offering and disclosing all material information regarding the Offering prior to the opening of
the financial markets in New York City on the business day immediately after the date hereof. The
Company shall not identify any Investor by name in any press release or public filing, or otherwise
publicly disclose any Investor’s name, without such Investor’s prior written consent, unless
required by law or the rules and regulations of a national securities exchange, provided, however,
that promptly after becoming aware of any request or requirement to so disclose (a “Disclosure
Requirement”), and in any event prior to any such disclosure, the Company will provide such
Investor with notice of such request or requirement so that such Investor may at its election seek
a protective order or other appropriate remedy and the Company will fully cooperate with such
Investor’s efforts to obtain the same; provided, further, however, if, absent the entry of such a
protective order or other remedy, the Company is compelled by applicable law, rule or regulation or
a court order, subpoena, similar judicial process, regulatory agency or stock exchange rule to
disclose such Investor’s name, the Company may disclose only that portion of such information that
the Company is so compelled to disclose and will use its

 

 

reasonable best efforts to obtain assurance that confidential treatment will be accorded to
that portion of such information that is being disclosed. As of the date hereof, the Company is
not aware of any Disclosure Requirement.

          (i) In the event that the Placement Agreement is terminated by the Placement Agents pursuant
to the terms thereof, this Agreement shall terminate without any further action on the part of the
parties hereto.

 

 

     If the foregoing correctly sets forth our agreement, please confirm this by signing and
returning to us the duplicate copy of this Agreement.

	 	 	 	 	 	 	 
	 	 	MAJESCO ENTERTAINMENT COMPANY	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	Number of Shares:                     

	 	 	 	Title: Chief Executive Officer	 	 
	 
	 	 	 	 	 	 
	Purchase
Price Per Share: $ 1.50

	 	 	 	Address for Notice:	 	 
	 
	 	 	 	 	 	 
	Aggregate Purchase Price:     $          

	 	 	 	Majesco Entertainment Company	 	 
	 
	 
	 	 	 	 	 	 
	INVESTOR:                                        

	 	 	 	 

	 	 
	 

	 	 	 	 

	 	 
	 

	 	 	 	 

	 	 

	 	 	 	 	 
	By:
	 	 	 	 
	Name:

	 	 

	 	 
	Title:
	 	 	 	 

DWAC Instructions:

Name of DTC Participant:                     

DTC Participant Number:                     

Account Number:exv10w01

Exhibit 10.1

Execution Version

PURCHASE
AGREEMENT

BY
AND BETWEEN

NATIONAL CITY COMMERCIAL CAPITAL COMPANY, LLC, as Purchaser

and

OLD NATIONAL BANK

and INDIANA OLD NATIONAL INSURANCE COMPANY,

as, collectively, Seller

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page
	
ARTICLE 1 Definitions; Construction
	 	 	1	 
	Section 1.1 Provisions Pertaining to Definitions
	 	 	1	 
	Section 1.2 Definitions
	 	 	2	 
	ARTICLE 2 Purchase and Sale; Closing
	 	 	9	 
	Section 2.1 Purchase and Sale Terms
	 	 	9	 
	Section 2.2 Purchase Price
	 	 	11	 
	Section 2.3 Closing
	 	 	11	 
	Section 2.4 Closing Deliveries
	 	 	12	 
	Section 2.5 Sole Representations
	 	 	12	 
	Section 2.6 Non-Recourse
	 	 	12	 
	Section 2.7 Sale Transaction
	 	 	13	 
	ARTICLE 3 Representations and Warranties
	 	 	13	 
	Section 3.1 Representations and Warranties of Seller
	 	 	13	 
	Section 3.2 Representation and Warranties of Purchaser
	 	 	19	 
	Section 3.3 Reliance on Representations and Warranties of Seller
	 	 	20	 
	ARTICLE 4 Additional Covenants
	 	 	20	 
	Section 4.1 Servicing Terms; Escrowed Transaction Services; Insurance Matters
	 	 	20	 
	Section 4.2 Control of Collection of Payments
	 	 	21	 
	Section 4.3 Taxes and Tax Payments
	 	 	21	 
	Section 4.4 Expenses
	 	 	22	 
	Section 4.5 Further Assurances
	 	 	22	 
	Section 4.6 Payment of Brokers’ or Finders’ Fees
	 	 	23	 
	Section 4.7 Preservation of Purchased Transactions
	 	 	23	 
	Section 4.8 Publicity
	 	 	23	 
	ARTICLE 5 Repurchase; Recourse; Make-Whole and Indemnification Obligations
	 	 	23	 
	Section 5.1 Repurchase; Make-Whole and Recourse Obligations
	 	 	23	 
	Section 5.2 Indemnity Obligations
	 	 	26	 
	Section 5.3 Indemnification Procedure
	 	 	28	 
	Section 5.4 Indemnification Thresholds
	 	 	30	 
	ARTICLE 6 General
	 	 	30	 
	Section 6.1 Successor and Assigns
	 	 	30	 
	Section 6.2 No Partnership, ETC.
	 	 	30	 
	Section 6.3 No Third Party Rights
	 	 	30	 
	Section 6.4 Payments In Immediately Available Funds
	 	 	30	 
	Section 6.5 Waivers
	 	 	30	 
	Section 6.6 Notice
	 	 	31	 
	Section 6.7 Entire Agreement, Modification, Severability
	 	 	32	 
	Section 6.8 Headings and Cross-References
	 	 	32	 
	Section 6.9 Governing Law
	 	 	32	 
	Section 6.10 Counterparts
	 	 	32	 
	Section 6.11 Survival
	 	 	32	 
	Section 6.12 Construction
	 	 	32	 
	Section 6.13 Prevailing Party Fees
	 	 	33	 

-i-

 

	 	 	 	 	 
	 	 	Page
	Section 6.14 Jurisdiction, Forum Selection Venue 
	 	 	33	 
	Section 6.15 Waiver of Jury Trial 
	 	 	33	 

Exhibits:

Exhibit A  — Servicing Agreement

Exhibit B  —  Power of Attorney

Exhibit C  — Assignment and Assumption and Bill of Sale

Exhibit D  — Notice to Obligors

Exhibit E  —
Seller’s
Officer’s and Incumbency Certificate

Exhibit F  —
Purchaser’s
Officer’s and Incumbency Certificate

Schedules:

Schedules 1
and 1
A  — Purchased Transactions

Schedule 2 — Escrowed Transactions

Schedule 3 — Excluded Transactions

Schedule 4 — Exceptions to Tax Exempt Transactions

Schedule 5 — Kansas State Bank Transactions

Schedule 6 — Kansas State Bank Transaction Documents

Schedule 7 —
Seller’s Wire Transfer Instructions

Schedule 8 —
Seller’s Required Consents

Schedule 9 — Exceptions To Representations

-ii-

 

PURCHASE AGREEMENT

     THIS PURCHASE AGREEMENT (this “Agreement”), dated as of September 17, 2009, is entered
into by and between OLD NATIONAL BANK, a national banking association, having its principal place
of business at 1 Main Street, Evansville, Indiana 47708 (“ONB”) and its wholly-owned
subsidiary, INDIANA OLD NATIONAL INSURANCE COMPANY, a Vermont corporation, having its principal
place of business at 100 Bank Street, Burlington, Vermont 05402 (“Insurance Co.”; and,
together with ONB, “Seller”) and NATIONAL CITY COMMERCIAL CAPITAL COMPANY, LLC, an Indiana
limited liability company, having its principal place of business at 995 Dalton Avenue, Cincinnati,
Ohio 45203 (“Purchaser”).

W I T N E S S E T H:

          WHEREAS, Seller is the owner of various Transactions (as defined in this Agreement) in respect
of the leasing and financing of the acquisition, ownership, and operation of various types of
equipment and other goods, software and other personal property to, among others, governmental
authorities; and

          WHEREAS, Seller desires to sell, and Purchaser desires to purchase, certain of the
Transactions originated and/or purchased by Seller, subject to the terms and conditions of this
Agreement; and

     NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereby agree as follows intending to be legally bound:

ARTICLE 1

Definitions; Construction

     Section 1.1 Provisions Pertaining to Definitions. For all purposes of this
Agreement, unless otherwise expressly specified:

          (a) All references to dollars or $ shall be United States Dollars;

          (b) All of the uncapitalized terms contained in this Agreement which are defined under the UCC
will, unless defined in the Purchase Documents, or the context clearly indicates otherwise, have
the meanings provided for in the UCC;

          (c) Unless the context clearly indicates the contrary, words importing the singular only
shall include the plural and vice versa. The term “including” is used by way of

 

 

illustration and not by way of limitation. “Hereunder,” “herein,” “hereto,” “this Agreement” and
words of similar import refer to this entire document;

          (d) The definition of any document, agreement or instrument includes all schedules,
attachments and exhibits thereto and all renewals, extensions, supplements, modifications,
restatements and amendments thereof. All references to statutes include: (i) all regulations
promulgated thereunder, (ii) any amendments of such statutes or regulations promulgated thereunder,
and (iii) any successor statutes and regulations, including any comparable provision of the
applicable statute, ordinance, code, regulation or other law as amended or superseded after the
date of this Agreement; and

          (e) Whenever the sense of this Agreement or any of the other Purchase Documents so require,
the masculine or feminine gender will be substituted for, or be deemed to include, the neuter, the
feminine gender will be substituted for the masculine, or the masculine will be deemed to include
the feminine, and the neuter gender will be substituted for, or be deemed to include, the
masculine or, as applicable, feminine gender.

     Section 1.2 Definitions. In addition to the terms defined elsewhere in this
Agreement,
the following terms shall have the following meanings (whether or not underscored):

          “Additional Documents” means, with respect to any Purchased Transaction, all
instruments, documents and agreements with respect to such Purchased Transaction (other than the
Transaction Documents) in the possession or control of Seller and pertaining to any Obligor in
connection with the origination, administration, collection, servicing or enforcement of such
Purchased Transaction, including all credit information and correspondence.

          “Affiliate” means, with respect to any Person, any other Person that directly or
indirectly through one or more intermediaries, controls, or is controlled by, or is under common
control with, such Person.

          “Assignment and Assumption” means an Assignment and Assumption and Bill of Sale in
substantially the form set forth as Exhibit C attached to, incorporated into, and made a
part of, this Agreement.

          “Business Day” means a day other than a Saturday, Sunday or other day on which
commercial banks in Cincinnati, Ohio and Evansville, Indiana are authorized or required by law to
close.

          “Charges” means, and includes, all right, title and interest in the regularly
scheduled periodic Payments that the Obligor is obligated to pay under a Contract; provided,
however, “Charges” will not include any (a) Payments (i) of late fees, prepayment premiums, or
termination fees or (ii) for Taxes, insurance, or indemnification, or (b) other Payments not
included in the periodic Payments as scheduled under the Contract.

          “Claim” means any action, suit, proceeding, claim, arbitration, mediation, demand,
investigation or inquiry or any settlement of any of the foregoing (whether or not a formal
proceeding or action has been instituted).

-2-

 

          “Closed-Out Escrow Transaction” means, with respect to each Escrowed Transaction, that
each of the following has occurred: (a) the terms of the applicable escrow agreement for such
Escrowed Transaction have been satisfied such that the escrow agent thereunder has made full and
final disbursement of all of the escrowed funds to the applicable vendors and other payees of the
applicable Obligors and (b) such Escrowed Transaction fully complies with each of the
representations and warranties set forth in Section 3.1(b) without exception for any of the
Excepted-Out Representations (i.e., as if such exceptions had not been made in the first instance
with respect to such Escrowed Transaction).

          “Closing” means and refers to the effective time of the sale of the Purchased
Transactions, the Transaction Documents and Additional Documents related thereto, which for the
purpose of the sale of the Purchased Transactions shall be 4:30 p.m., Eastern Standard Time, on
September 17, 2009. “Closing Date” refers, in each case, to such day.

          “Code” means the Internal Revenue Code of 1986, as amended.

          “Contract” means, and includes, each of, as applicable: (a) a lease contract entered
into between, on the one hand, Seller, any assignor of Seller, or, in the case of the Kansas State
Bank Transactions only, Kansas State Bank of Manhattan, and, on the other hand, an Obligor pursuant
to which such Obligor leases Personal Property from Seller (or, in the case of the Kansas State
Bank Transactions only, Kansas State Bank of Manhattan), including the master lease contract and
all Lease Schedules entered into between Seller, any assignor of Seller, or, in the case of the
Kansas State Bank Transactions only, Kansas State Bank of Manhattan, and such Obligor or (b) a loan
or other financing agreement or instrument or an installment or credit sale agreement entered into
between, on the one hand, Seller, any assignor of Seller, or, in the case of the Kansas State Bank
Transactions only, Kansas State Bank of Manhattan, and, on the other hand, an Obligor pursuant to
which Seller (or, in the case of the Kansas State Bank Transactions only, Kansas State Bank of
Manhattan) finances Personal Property for such Obligor (as each of the foregoing may have been
heretofore or may be hereafter renewed, extended, amended, restated, supplemented, modified or
replaced from time to time).

          “Credit Enhancement” means, with respect to each Purchased Transaction, any of the
following provided as security or credit support for the Purchased Transaction: (a) investment
certificate, certificate of deposit, authorization to hold funds, hypothecation of account or like
instrument, (b) letter of credit, repurchase agreement, indemnity agreement, guaranty, lease
guaranty bond or postponement agreement, (c) recourse agreement, (d) security or pledge agreement,
or (e) bond or debenture, in each case pledged, assigned, mortgaged, made, delivered or transferred
as security for the performance of any obligation under or with respect to such Purchased
Transaction.

          “Damages” means any and all actual losses, damages, liabilities, obligations,
judgments, equitable relief granted, settlements, awards, offsets, defenses, counterclaims, actions
or proceedings, reasonable out-of-pocket costs, expenses and attorneys’ fees (including any such
reasonable costs, expenses and attorneys’ fees incurred in enforcing any right of indemnification
against any Indemnitor or with respect to any appeal), interest and penalties, if any.

-3-

 

          “Defaulted Transaction” means a Purchased Transaction purchased by Purchaser
hereunder concerning which a default or material breach by the Obligor has occurred under one or
more of the Transaction Documents applicable thereto and such default or material breach has
remained uncured by the Obligor for a period of not less than thirty (30) days after the
occurrence of such default or breach.

          “Discount Rate” means 4.25% per annum.

          “Enforceability Exception” means the application, as applicable, of: (a) applicable
bankruptcy, insolvency, reorganization, or moratorium laws, now or hereafter in effect, relating
to or affecting the rights of creditors generally, (b) the rules or principles of equity affecting
enforcement of obligations generally, whether at law, in equity or otherwise, and (c) the exercise
of the discretionary powers of any court or other authority before which a proceeding may be
brought seeking equitable remedies, including specific performance and injunctive relief.

          “Escrow Services” has the meaning given in Section 4.1(b).

          “Escrowed Transactions” means, collectively, the Transactions identified on
Schedule 2 attached to, incorporated into, and made a part of, this Agreement.

          “Excepted-Out Representations” has the meaning given in Section
5.1(e).

          “Excluded Transaction” means those Transactions identified (or required to be
identified pursuant to this Agreement) on Schedule 3 attached to, incorporated into, and
made a part of, this Agreement: (a) that became Pre-Paid Contracts on or before the Closing Date,
(b) that did not comply, as of the Closing Date, with the representations and warranties set forth
in Section 3.1(b), including a Transaction as to which all or any part of any Payment of
any Charges under the Contract is past due (as measured from its contractual last due date) for
more than 30 calendar days, or (c) in respect of which a material adverse change in the financial
condition of the Obligor of such Transaction has occurred during the period between Purchaser’s
initial due diligence review of the Obligors to the Closing Date.

          “First Payment Default Transaction” means a Purchased Transaction purchased by
Purchaser hereunder concerning which (a) the regularly scheduled payment of Charges relating
thereto first due after the Closing Date that is required to be remitted to Purchaser under this
Agreement is not paid by the relevant Obligor within thirty (30) days after the due date therefor
(so long as such payment due date is on or within 31 calendar days after the Closing) and (b) the
Payment obligations arising thereunder are not brought completely current prior to the date on
which it becomes a Defaulted Transaction.

          “First Payment Default Transaction Repurchase Price” means, with respect to a First
Payment Default Transaction, an aggregate amount equal to the sum of: (a) that portion of the
Purchase Price attributable to such First Payment Default Transaction, (b) interest on that
portion of the Purchase Price attributable to such First Payment Default Transaction at a rate per
annum equal to the Discount Rate (calculated on the basis of a year of 360 days and the actual

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number of days elapsed) for the period from the Closing Date until the date repurchased by Seller,
and (c) any reasonable out-of-pocket expenses incurred by Purchaser with respect to such First
Payment Default Transaction.

          “Government Financing Contract” means a Contract, the Obligor of which is the United
States, any State, any political subdivision, agency, department or instrumentality of the United
States, any State or local government, or a qualified volunteer fire department (as defined in
Section 150(e)(2) of the Code).

          “Indemnification Event” means any event, Claim, action or proceeding for which a
Person is entitled to indemnification under this Agreement.

          “Indemnitee” means, as applicable, a Purchaser Indemnified Party or a Seller
Indemnified Party.

          “Indemnitor” means, as applicable, Seller or Purchaser.

          “Initial Contract Term” means the period, before any renewal or extension of the
stated term of a Contract, during which the Obligor is obligated under such Contract to pay
Charges without any right of cancellation on the part of the Obligor.

          “Kansas State Bank Servicing Only Transactions” means those Transactions, identified
as “KSB Assigned Transactions” on Schedule 5 attached to, incorporated into, and made a
part of, this Agreement, which are owned by Seller but are serviced by Kansas State Bank of
Manhattan pursuant to the Servicing Agreement dated July 1, 1994 between ONB and Kansas State Bank
of Manhattan.

          “Kansas State Bank Transactions” means the Transactions identified on Schedule
5 attached to, incorporated into, and made a part of, this Agreement.

          “Kansas State Bank Transaction Documents” means the participation agreements
referenced on Schedule 6 attached to, incorporated into, and made a part of, this
Agreement (as each of the foregoing may have been heretofore or may be hereafter renewed,
extended, amended, restated, supplemented, modified or replaced from time to time).

          “Lease Schedule” means a schedule, supplement or other lease agreement: (a) which
incorporates a master lease contract between, on the one hand, Seller, any assignor of Seller, or,
in the case of the Kansas State Bank Transactions only, Kansas State Bank of Manhattan, and, on
the other hand, the Obligor and (b) pursuant to which Personal Property is leased and in which the
Charges and the other requisite lease or financing terms are set forth and agreed to by the
Obligor.

          “Liabilities” has the meaning given in Section 2.1(c).

          “Lien” means any mortgage, deed of trust, pledge, hypothecation, assignment, deposit
arrangement, charge, security interest, encumbrance, lien (statutory or other), or any

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preference, priority or other security agreement or any preferential arrangement of any kind or
nature whatsoever (including any conditional sale or other title retention agreement, any lease
deemed under the UCC to be intended for security, and the authorized filing by or against a Person
as debtor of any financing statement under the UCC or comparable law of any jurisdiction).

          “Make-Whole Gain” means, as to each Pre-Paid Contract, the positive difference, if
any, between: (a) the sum of (i) the outstanding principal balance of all Charges which, under the
terms of the applicable Transaction Documents, are due and payable during the period beginning on
the Prepayment Date and ending on the last day of the Initial Contract Term and (ii) all prepayment
premiums and termination fees, if any, due under such Pre-Paid Contract that are paid by the
Obligor on the Prepayment Date and (b) one hundred percent (100%) of all Charges which, under the
terms of the applicable Transaction Documents, are due and payable during the period beginning on
the Prepayment Date and ending on the last day of the Initial Contract Term, discounted to present
value at the Discount Rate.

          “Make-Whole Loss” means, as to each Pre-Paid Contract, the positive difference, if
any, between: (a) one hundred percent (100%) of all Charges which, under the terms of the
applicable Transaction Documents, are due and payable during the period beginning on the Prepayment
Date and ending on the last day of the Initial Contract Term, discounted to present value at the
Discount Rate and (b) the sum of (i) the outstanding principal balance of all Charges which, under
the terms of the applicable Transaction Documents, are due and payable during the period beginning
on the Prepayment Date and ending on the last day of the Initial Contract Term and (ii) all
prepayment premiums and termination fees, if any, due under such Pre-Paid Contract that are paid by
the Obligor on the Prepayment Date.

          “Make-Whole Net Payment” means an amount, which is determined by Purchaser during each
calendar quarter ending during the Make-Whole Payment Period, equal to the positive difference, if
any, between: (a) the aggregate Make-Whole Loss of all Contracts that became a Pre-Paid Contract
during such calendar quarter and (b) the aggregate Make-Whole Gain of all Contracts that became a
Pre-Paid Contract during such calendar quarter.

          “Make-Whole Payment Period” means the period beginning on the Closing Date and ending
on the third anniversary of the Closing Date. For purposes of the last calendar quarter with
respect to the Make-Whole Payment Period, such calendar quarter shall be deemed to end on September
17, 2012.

          “Non-Assumable Claim” means any Indemnification Event: (a) involving a Claim brought
by any governmental authority (other than a governmental authority in its capacity as an Obligor
under a Government Financing Contract) for a violation of applicable law, (b) seeking injunctive
relief, (c) involving a class action, (d) involving allegations of criminal activities or (e)
involving allegations of violations of the Racketeer Influenced and Corrupt Organizations Act, 18
U.S.C. sections 1961, et seq., as amended, any domestic or foreign federal or state securities laws
or regulations or any domestic or foreign federal or state antitrust laws.

          “Non-Qualifying Escrowed Transaction” has the meaning given in Section
5.1(e).

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          “Non-Qualifying Escrowed Transaction Repurchase Date” has the meaning given in
Section 5.1(e).

          “Obligor” means the Person executing any Contract as the lessee, borrower, customer or
other obligor that is obligated to pay the Charges under such Contract and any guarantor or other
Person which is obligated to make Payments under any Transaction Document.

          “Outstanding Investment Balance” means, with respect to any Warranty Breach Purchased
Transaction or, as applicable, Non-Qualifying Escrowed Transaction that Seller is obligated, in
either case, to repurchase from Purchaser pursuant to Section 5.1, an aggregate amount
equal to the sum of: (a) one hundred percent (100%) of all Charges and other Payments which, under
the terms of the applicable Transaction Documents, were due and payable on or before the Warranty
Breach Purchased Transaction Repurchase Date or, as applicable, the
Non-Qualifying Escrowed
Transaction Repurchase Date, and have not been paid to Purchaser, (b) one hundred percent (100%) of
all Charges which, under the terms of the applicable Transaction Documents, are due and payable
during the period beginning on the Warranty Breach Purchased Transaction Repurchase Date or, as
applicable, the Non-Qualifying Escrowed Transaction Repurchase Date and ending on the last day of
the relevant Initial Contract Term, discounted to present value at the Discount Rate, (c) one
hundred percent (100%) of all Payments (other than Charges) which, under the terms of the
applicable Transaction Documents, are due and payable to Purchaser on and after the Warranty Breach
Purchased Transaction Repurchase Date or, as applicable, the Non-Qualifying Escrowed Transaction
Repurchase Date, and (d) any reasonable out-of-pocket expenses incurred by Purchaser with respect
to such Warranty Breach Purchased Transaction or, as applicable, Non-Qualifying Escrowed
Transaction.

          “Payments” means all payments due and payable under the applicable Transaction
Documents, including all Charges, all late fees, all Tax payments, all prepayment premiums or
termination fees, all insurance payments, and all indemnification payments thereunder.

          “Person” means any individual, sole proprietorship, partnership, joint venture,
trust, unincorporated organization, association, limited liability company, corporation,
institution, entity, party or governmental authority.

          “Personal Property” means, and includes, as applicable under the applicable
Transaction Documents, equipment or other goods, software, or other personal property.

          “Personal Property Tax” has the meaning given in Section 4.3(c).

          “Pre-Paid Contract” means any Purchased Transaction prepaid in full before the end of
its Initial Contract Term pursuant to the terms of the applicable Transaction Documents in effect
on the Closing Date.

          “Prepayment Date” means the date of the prepayment of a Contract in full.

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          “Purchase Documents” means, collectively, this Agreement and any certificates,
Schedules, Exhibits and other written agreements, instruments and documents delivered by Seller or
Purchaser in connection with this Agreement and the consummation of the transactions contemplated
hereby, including the Servicing Agreement.

          “Purchased Transactions” has the meaning given in Section 2.1(a).

          “Purchaser Indemnified Party” has the meaning given in Section
5.2(a).

          “Recourse Loss Amount” means, with respect to any Recourse Transaction, an aggregate
amount equal to: (a) the sum of (i) one hundred percent (100%) of all Charges and other Payments
which, under the terms of the applicable Transaction Documents, were due and payable on or before
the date on which the subject Purchased Transaction became a Recourse Transaction (such date, the
“Recourse Date”), (ii) one hundred percent (100%) of all Charges which, under the terms of
the applicable Transaction Documents, are due and payable during the period beginning on the
Recourse Date and ending on the last day of the Initial Contract Term, discounted to present value
at the Discount Rate, (iii) one hundred percent (100%) of all Payments (other than Charges) which,
under the terms of the applicable Transaction Documents, are due and payable to Purchaser on and
after the Recourse Date, and (iv) all documented costs and expenses (including attorneys’ fees)
incurred by Purchaser in connection with the sale or other disposition of the relevant Personal
Property, as contemplated by Section 5.1(d)(ii), minus (b) all cash amounts
recovered by Purchaser from the sale or other disposition of the relevant Personal Property, as
contemplated by Section 5.1(d)(ii).

          “Recourse Transaction” has the meaning given in Section 5.1(d).

          “Reserved Rights” means the right, title and interest of Seller in and to each and
every indemnity or right of reimbursement of or in favor of Seller by the relevant Obligor under
any Transaction Document or Additional Document to the extent such indemnity or right of
reimbursement vests or arises from facts, events, or circumstances occurring or existing on or
prior to the Closing Date; and, in each of the foregoing cases, the right to enforce payment of the
same.

          “Sales Tax” has the meaning given in Section 4.3(d).

          “Seller Indemnified Party” has the meaning given in Section 5.2(b).

          “Servicing Agreement” means the Servicing Agreement, in the form attached as
Exhibit A to this Agreement, made and entered into between Purchaser and Seller on the
Closing Date.

          “Specified Warranty Breach Purchased Transaction” means a Warranty Breach Purchased
Transaction other than an Unqualified Warranty Breach Purchased Transaction.

          “Tax” or “Taxes” means any and all sales, value-added, consumption, gross
receipts and other similar taxes and duties measured by the amount charged for the purchase or

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acquisition of and the sale, resale, financing, lease or sublease of property, all personal
property, use, ad valorem or similar taxes, all documentary stamp, intangible, excise or similar
taxes and all other taxes, levies or assessments (by whatever name) assessed or otherwise required
to be paid in connection with the original purchase of the Personal Property, the ownership,
financing, or leasing of such Personal Property by Seller (or, in the case of the Kansas State
Bank Transactions only, Kansas State Bank of Manhattan) (including under a Contract), or any
deemed lease or use of such Personal Property by Seller (or, in the case of the Kansas State Bank
Transactions only, Kansas State Bank of Manhattan) or any Obligor, whether on basis of the value
(or tax basis) of the Personal Property, the Payments to be made under a Contract, or otherwise,
exclusive of any taxes on net income.

          “Third Party Claim” has the meaning given in Section 5.2(b).

          “Transaction” means, and includes, collectively, all right, title and interest in
each transaction which is the subject of a Contract.

          “Transaction Documents” means, collectively, for each Transaction, the applicable
Contract and all schedules thereto, any acceptance certificate, signature authority certification,
notification and acknowledgment of assignment, escrow agreements, and any other agreements,
documents or instruments evidencing an obligation arising out of, providing security for, or
relating to any Contract or any Credit Enhancement thereof, including, in the case of the Kansas
State Bank Transactions, the Kansas State Bank Transaction Documents.

          “Uniform Commercial Code” or “UCC” means the Uniform Commercial Code as
adopted in each applicable jurisdiction, as amended or superseded from time to time.

          “Unqualified Warranty Breach Purchased Transaction” means a Warranty Breach Purchased
Transaction which arises, in whole or in part, from the breach or inaccuracy of any representation
or warranty made by Seller in any one or more of clauses (i), (ii), (iii), (vi), (vii), (x), (xi),
or (xx) of Section 3.1(b).

          “Warranty Breach Purchased Transaction” has the meaning given in Section
5.1(b).

          “Warranty Breach Purchased Transaction Repurchase Date” has the meaning given in
Section 5.1(b).

ARTICLE 2

Purchase and Sale; Closing

     Section 2.1 Purchase and Sale Terms.

          (a) Purchase and Sale. Subject to the terms of this Agreement, effective as
of
the Closing, Purchaser shall purchase, receive and accept, and Seller shall sell, transfer, convey,

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assign and deliver, without recourse except as expressly provided in this Agreement, all of
Seller’s right, title and interest in, to and under the following described property and interests
in property (collectively, the “Purchased Transactions”) exclusive of Seller’s Reserved
Rights pursuant to the terms and conditions set forth herein:

               (i) each Transaction (A) the Obligor and Contract number of which is
identified on Schedule 1 attached to, incorporated into, and made a part of, this
Agreement and (B) which is not an Excluded Transaction;

               (ii) all Payments due on and after September 1, 2009 under the
applicable Transaction Documents for the Transactions referenced in clause (i) of this Section
2.1(a) or which are allocable to any period beginning on or after September 1, 2009;

               (iii) all Additional Documents and all Transaction Documents
applicable to the Transactions referenced in clause (i) of this Section 2.1(a);

               (iv) all Credit Enhancements and all collateral or security held by
Seller, or on its behalf, with respect any debts, liabilities, obligations, indemnities, covenants
and duties of the applicable Obligors owing to Seller with respect to the Transactions referenced
in clause (i) of this Section 2.1(a), including all security deposits, advance rent,
escrow funds or deposits, impounds, reserves and similar funds, if any, with respect to such
Transactions;

               (v) each item of Personal Property that is the subject of the Contracts
for the Transactions referenced in clause (i) of this
 Section 2.1(a), including any rights
to the residual interests in such Personal Property, subject to the rights of the Obligor under
any such Contract, provided, that (A) with respect to the Personal Property owned by Seller, such
Personal Property includes all rights to the residual interests in such Personal Property and (B)
with respect to the Personal Property which is not owned by Seller, Seller’s interest therein is
limited to a security interest in or other Lien on such Personal Property;

               (vi) all of Seller’s rights with respect to all insurance policies in
respect of the Transactions referenced in clause (i) of this

 Section 2.1(a);

               (vii) all of Seller’s rights with respect to the stipulated loss value for
each item of Personal Property that is the subject of the Contracts for the Transactions
referenced in clause (i) of this Section 2.1(a);

               (viii) all rights to service and administer the Transactions referenced in clause (i) of this
Section 2.1(a) (exclusive of the Kansas State Bank Servicing Only Transactions), including
Seller’s right to receive all Payments and all accounts with respect thereto and all surviving
rights as owner and holder thereof;

               (ix) all supporting obligations with respect to the foregoing; and

               (x) all proceeds with respect to the foregoing.

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          (b) Reserved Rights. Notwithstanding Section 2.1(a), with respect to each
Purchased Transaction, Seller shall retain the Reserved Rights, and Purchaser agrees that Seller
may take such action under the express terms of the Transaction Documents or any Additional
Documents or by law or in equity provided as Seller deems appropriate to enforce the Reserved
Rights; provided, however, Seller acknowledges and agrees that (i) notwithstanding the terms of
the Transaction Documents, the Personal Property securing, or which is the subject of, any
Transaction Document shall not secure or be available to satisfy any of the Reserved Rights and
(ii) in the event and to the extent that the Personal Property securing, or which is the subject
of, any Transaction does not secure or is not otherwise available to satisfy any of the Reserved
Rights pursuant to the terms of the Transaction Documents, neither Seller nor any Affiliate of
Seller shall seek to foreclose, realize upon or otherwise exercise its respective remedies with
respect to any such Personal Property or any portion thereof pursuant to the terms of the
Transaction Documents, and, in connection therewith, Seller (on behalf of itself and all of its
Affiliates) hereby expressly waives and releases any and all right, title and interest now held by
it in and to the Personal Property pursuant to the terms of the Transaction Documents.

          (c) Assignment and Assumption of Liabilities and Related Matters. With respect to the
Purchased Transactions, effective as of the Closing Date, Seller shall delegate and assign to
Purchaser, and Purchaser shall assume, only the following (collectively, the
“Liabilities”), subject to the terms and conditions set forth in this Agreement: all
express obligations of Seller under the Transaction Documents to be performed after the Closing
other than (i) to the extent that such otherwise assumed obligations of Seller arise from any act
or omission of Seller taken or omitted before or at the Closing and (ii) the Escrow Services. Other
than the Liabilities, Purchaser is not assuming or otherwise becoming responsible for, and shall
not be deemed to have assumed or otherwise become responsible for, any indebtedness, liabilities or
obligations of Seller of any kind, whether mature or contingent, known or unknown.

     Section 2.2 Purchase Price. The purchase price for the Purchased Transactions is the
aggregate sum of $259,601,383.31 (“Purchase Price”). Purchaser shall wire transfer the
Purchase Price on the Closing Date in accordance with the wire transfer instructions set forth on
Schedule 7 attached to, incorporated into, and made a part of, this Agreement. The
Purchase
Price was determined exclusive of the Excluded Transactions but inclusive of the Escrowed
Transactions subject to Section 5.1(e).

     Section 2.3 Closing. The Closing shall take place at the offices of Seller in
Evansville, Indiana, or such other location as mutually agreed between the parties, on the Closing
Date. Unless Seller and Purchaser shall agree otherwise in writing, all of the transactions,
deliveries and payments contemplated hereby shall be deemed to have taken place simultaneously, and
no such transaction, delivery or payment shall be deemed to have been made until all such
transactions, deliveries and payments are completed at the Closing.

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     Section 2.4 Closing Deliveries.

          (a) Deliveries Regarding Purchased Transactions.

               (i) On the Closing Date, Seller will execute and deliver to Purchaser a
power of attorney in substantially the form set forth as Exhibit B attached to,
incorporated into, and made a part of, this Agreement.

               (ii) On the Closing Date, Seller and Purchaser shall execute and
deliver the Assignment and Assumption and Bill of Sale with respect to the Purchased Transactions.

               (iii) On the Closing Date, Seller will execute and deliver to Purchaser,
a completed document in the form set forth as Exhibit D attached to, incorporated into, and
made a part of, this Agreement, for the purpose of notifying each applicable Obligor that each
Purchased Transaction has been sold to Purchaser. Seller shall use commercially reasonable efforts
to cooperate with and assist Purchaser in causing the Obligors to (A) return the notices with
acknowledgment of the assignment thereof (if required under the applicable Contract) and with
verification of the information included thereon within 30 days after the Closing and (B) notify
all insurers providing insurance coverage with respect to the Purchased Transactions and Personal
Property that the new loss payee and additional insured under all such insurance policies is
Purchaser. Seller shall use commercially reasonable efforts to cooperate with and assist Purchaser
in resolving any discrepancy raised by an Obligor relating to verification of the information
included thereon.

          (b) Deliveries Regarding Seller. On the Closing Date, Purchaser shall receive from
Seller a fully executed Officer’s and Incumbency Certificate in substantially the form set forth
as Exhibit E attached to, incorporated into, and made a part of, this Agreement.

          (c) Deliveries Regarding Purchaser. On the Closing Date, Seller shall receive from
Purchaser a fully executed Officer’s and Incumbency Certificate in substantially the form set forth
as Exhibit F attached to, incorporated into, and made a part of, this Agreement.

     Section 2.5 Sole Representations. SELLER IS SELLING AND ASSIGNING, AND
PURCHASER IS PURCHASING AND ASSUMING, THE PURCHASED TRANSACTIONS WITH ONLY THOSE REPRESENTATIONS
AND WARRANTIES SET FORTH HEREIN, AND SELLER HEREBY EXPRESSLY DISCLAIMS, AND PURCHASER HEREBY
EXPRESSLY DISCLAIMS RELIANCE ON, ANY OTHER REPRESENTATIONS OR WARRANTIES, WHETHER EXPRESS OR
IMPLIED.

     Section 2.6 Non-Recourse. Purchaser acknowledges and agrees that: (i) Seller’s sale
and assignment of the Purchased Transactions to Purchaser, and Purchaser’s assumption of the
Liabilities, are irrevocable except to the extent set forth in Section 5.1; and (ii)
Purchaser shall have no recourse to Seller except for (A) Seller’s breaches of its representations,
warranties or covenants, (B) Seller’s express obligations under Section 5.1, and (C)
Seller’s indemnities, in each case as expressly stated in, and subject to the terms of, this
Agreement.

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     Section 2.7 Sale Transaction. THIS AGREEMENT CONSTITUTES A SALE OF
ALL OF SELLER’S RIGHTS, TITLES, AND INTERESTS IN EACH SUCH PURCHASED
TRANSACTION AND INCLUDING ALL ASSOCIATED PERSONAL PROPERTY AND
SHALL IN NO WAY BE CONSTRUED AS AN EXTENSION OF CREDIT BY PURCHASER
TO SELLER. NO PARTY SHALL TAKE ANY ACTION THAT IS OR COULD BE
CONSTRUED AS INCONSISTENT WITH SUCH INTENT, NOR SHALL ANY PARTY
OMIT TO TAKE ANY ACTION, THE OMISSION OF WHICH IS OR COULD BE
CONSTRUED AS INCONSISTENT WITH SUCH INTENT. As a precaution, if,
notwithstanding such intent, a court of competent jurisdiction holds that any of the transactions
evidenced hereby constitute a loan or borrowing and not a purchase and sale, Seller hereby grants
to Purchaser a continuing, first priority, perfected security interest in and Lien on all of
Seller’s right, title and interest, whether now owned or hereafter acquired, in, to and under each
Purchased Transaction, including all associated Personal Property, all supporting obligations with
respect to the foregoing, and all proceeds thereof, to secure the payment and performance of the
Purchase Price and all obligations and liabilities of Seller under the Purchase Documents. As to
each item of Personal Property and the proceeds thereof, Purchaser will have a first priority,
purchase money security interest therein. Seller hereby irrevocably authorizes Purchaser at any
time and from time to time to file in any filing office in any jurisdiction any initial financing
statements and amendments thereto that (i) indicate the Purchased Transactions, including all
associated Personal Property, all supporting obligations with respect to the foregoing, and all
proceeds thereof, as being of an equal or lesser scope or with greater detail and (ii) provide any
other information required by Part 5 of Article 9 of the UCC for the sufficiency or filing office
acceptance of any financing statement or amendment, including whether Seller is an organization,
the type of organization and any organizational identification number issued to Seller. Seller
hereby irrevocably authorizes Purchaser at any time and from time to time to correct or complete,
or to cause to be corrected or completed, any financing statements, continuation statements or
other such documents as have been filed naming Seller as debtor and Purchaser as secured party.
Purchaser is hereby authorized to give notice to any creditor or any other Person as may be
necessary or desirable under applicable laws to evidence, protect, perfect, or enforce the security
interest granted to Purchaser in the Purchased Transactions, including all associated Personal
Property.

ARTICLE 3

Representations and Warranties

     Section 3.1 Representations and Warranties of Seller. Seller hereby makes the
following representations and warranties to Purchaser as of the Closing Date:

          (a) Organization, Power and Qualification.

               (i) ONB is a national banking association authorized to transact the
business of banking under the laws of the United States. Insurance Co. is a corporation validly
existing under the laws of the State of Vermont and is a wholly-owned subsidiary of ONB. Each

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of ONB and Insurance Co. is duly licensed, qualified and in good standing to engage in its regular
course of business in each jurisdiction in which the character of its properties or the nature of
its activities requires such qualifications, except where the failure to be so qualified, licensed
or in good standing would not affect the enforceability of any Purchased Transaction or of any
Transaction Document relating thereto;

               (ii) Each of ONB and Insurance Co. has full power and authority to
enter into this Agreement and to take any action and execute any documents required by the terms
hereof;

               (iii) This Agreement and the other Purchase Documents have been duly
authorized by all necessary corporate proceedings of Seller, has been duly and validly executed
and delivered by Seller, and, assuming due authorization, execution and delivery by Purchaser, is
a legal, valid and binding obligation of Seller, enforceable against Seller in accordance with the
terms hereof, except as such enforcement may be limited by an Enforceability Exception;

               (iv) Except as disclosed on Schedule 8 attached to, incorporated
into,
and made a part of, this Agreement, no consent, approval, authorization, order, registration or
qualification of, or with, any Person or of, or with, any court or regulatory authority or other
governmental body having jurisdiction over Seller, the absence of which would adversely affect the
legal and valid execution, delivery and performance by Seller of this Agreement or any of the other
Purchase Documents or the taking by Seller of any actions contemplated herein, is required;

               (v) None of the execution and delivery of this Agreement or any of the
other Purchase Documents, the consummation of the transactions contemplated hereby, or the
fulfillment of or compliance with the terms and conditions of this Agreement or any of the other
Purchase Documents by Seller, conflicts with or results in a breach of or a default under any of
the terms, conditions or provisions of any legal restriction (including any judgment, order,
injunction, decree or ruling of any court or governmental authority, or any federal, state, local
or other law, statute, rule or regulation) or any covenant or agreement or instrument to which
Seller is now a party, or by which Seller or any of Seller’s property is bound, and such execution,
delivery, consummation or compliance does not violate or result in the violation of the corporate
charter or the bylaws of Seller;

               (vi) The sale and purchase contemplated by this Agreement is made in
the ordinary course of the business of Seller and does not constitute a sale of all or
substantially all of the assets of either ONB or Insurance Co. Seller expects that, immediately
after the Closing, it will continue to be engaged in the business of equipment leasing;

               (vii) At the date hereof, the jurisdiction of organization and exact legal
name of Seller is as stated with respect to Seller in the opening paragraph hereof;

               (viii) No broker or finder acting on Seller’s behalf is entitled to any fee from Purchaser in
connection with the transactions contemplated by this Agreement; and

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               (ix) All factual information prepared by Seller and furnished by Seller
to Purchaser in writing at any time in contemplation of this Agreement is, and all such factual
information hereafter furnished by Seller in writing to Purchaser will be, true and accurate in
every respect material to the transactions contemplated hereby on the date as of which such
information was or will be stated or certified.

          (b) Purchased Transaction Representations.

               (i) The information concerning each Purchased Transaction set forth
on Schedules 1, 1A, 2, and 3 attached to, incorporated into, and made a
part of, this Agreement, is true, correct and complete. The information concerning the aggregate
unpaid Charges as of September 1, 2009 set forth on Schedule 1 attached to, incorporated
into, and made a part of, this Agreement, is true, correct and complete;

               (ii) Each Purchased Transaction and the Transaction Documents
related thereto are genuine and represent valid obligations of the Obligor under such Purchased
Transaction, and each such Transaction Document is and will continue to be enforceable against
each Obligor in accordance with the terms thereof subject to the Enforceability Exception;
however, any such unenforceability because of an Enforceability Exception will not prevent the
practical realization by Purchaser of the benefits intended by the Transaction Documents and the
Personal Property applicable thereto taken as a whole. No Purchased Transaction has been
subordinated pursuant to an agreement made by Seller to subordinate the Payments under such
Purchased Transaction to the prior payment of any other indebtedness of an Obligor, in whole or in
part;

               (iii) The Transaction Documents for each Purchased Transaction
contain an unconditional obligation of each Obligor to pay all amounts set forth therein and is and
shall continue to be in all respects free from dispute, set off, defense, rescission, counterclaim
or recoupment of any kind and is and will continue to be non-cancelable for the duration of its
term except that Purchaser acknowledges that a Government Financing Contract may be subject to the
right of the Obligor thereunder to terminate or cancel such Government Financing Contract if the
Obligor fails to appropriate funds for the Payments due under such Government Financing Contract.
Seller has not agreed to release any Obligor under any Purchased Transaction. Seller has not
accepted the surrender of any Personal Property in full and final payment and satisfaction of any
Purchased Transaction. Seller has not received notice from any Obligor of the exercise of or intent
to exercise any option to terminate such Obligor’s Contract to purchase the related Personal
Property on or before the end of the Initial Contract Term of such Contract;

               (iv) Each Purchased Transaction was originated in connection with the
sale, lease, or financing of one or more units of new Personal Property;

               (v) Each Contract (A) was entered into in the United States either (1)
by a manufacturer of the Personal Property, the manufacturer’s authorized vendor or a financial
intermediary, (x) was fully and properly executed by the parties thereto, (y) was
purchased by Seller (or, in the case of the Kansas State Bank Transactions only, Kansas State Bank
of

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Manhattan) from such manufacturer, vendor or financial intermediary under an existing agreement
with Seller (or, in the case of the Kansas State Bank Transactions only, Kansas State Bank of
Manhattan) and (z) was validly assigned by such manufacturer, vendor or financial
intermediary to Seller (or, in the case of the Kansas State Bank Transactions only, Kansas State
Bank of Manhattan) in accordance with the terms of such agreement or (2) between Seller (or, in the
case of the Kansas State Bank Transactions only, Kansas State Bank of Manhattan) and the relevant
Obligor and was fully and properly executed by the parties hereto, and (B) contains customary and
enforceable provisions, such that the rights and remedies, of the holder thereof, shall be adequate
for the realization of the benefits thereby intended with respect to the relevant Personal
Property. Exclusive of the Escrowed Transactions as of the Closing, all vendors of the Personal
Property leased or financed by Seller in connection with the Purchased Transactions and all other
costs, fees and expenses incurred by Seller in originating and recording each such Purchased
Transaction and all Transaction Documents related thereto have been paid in full prior to the
Closing Date. No broker or other individual or entity engaged by Seller is entitled to any unpaid
commission or other compensation with respect to any Purchased Transaction;

               (vi) Seller has possession of all originals of the Transaction Documents
for each Purchased Transaction other than those Transaction Documents (exclusive of the Kansas
State Bank Transaction Documents) being held by Kansas State Bank of Manhattan with respect to the
Kansas State Bank Transactions. To Seller’s knowledge and except those Transaction Documents
(exclusive of the Kansas State Bank Transaction Documents) being held by Kansas State Bank of
Manhattan with respect to the Kansas State Bank Transactions, Seller’s file pertaining to each
Purchased Transaction is true, correct and complete in all material respects. The names, addresses,
amounts and other statements of fact contained in the Additional Documents and the Transaction
Documents, including information regarding the payment history of each Purchased Transaction, are
true, correct and complete in all material respects;

               (vii) All of Seller’s funding obligations arising under each Purchased
Transaction (other than Escrowed Transactions as of the Closing Date) have been fully satisfied,
and there is no requirement for future advances or additional fundings with respect thereto. Seller
does not have any ongoing maintenance or service obligations with respect to any of the Personal
Property. The Transaction Documents with respect to each Purchased Transaction are the only
material documents executed by Seller (or, if the Purchased Transaction was assigned to (or, in the
case of the Kansas State Bank Transactions, participated in by) Seller, by the originator thereof)
and the Obligor with respect to such Purchased Transaction and the related Personal Property. To
Seller’s knowledge, the representations and warranties made by each Obligor in such Obligor’s
Transaction Documents were true, correct, and complete in all material respects as of the dates
such representations and warranties were made. The terms and conditions contained in the
Transaction Documents for each Purchased Transaction correctly reflect the entire agreement between
the parties thereto, and there are no warranties, agreements or options of Seller or the relevant
Obligor pertaining to the Purchased Transactions or the Personal Property not set forth therein.
With respect to each Purchased Transaction, the related Transaction Documents are not
cross-collateralized or cross-defaulted with any other lease, loan or extension of credit made by
Seller to the relevant Obligor that is not a Purchased Transaction;

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               (viii) No Purchased Transaction is an Excluded Transaction;

               (ix) Each Contract has been serviced by Seller (or, in the case of the
Kansas State Bank Transactions and Kansas State Bank Servicing Only Transactions, by Kansas State
Bank of Manhattan) in the ordinary course of business in compliance in all material respects with
applicable law. Each Transaction Document related to each Purchased Transaction complies, in all
material respects, with all applicable state, federal, local and other laws, rules, regulations and
requirements as of the Closing Date, including usury laws. No Obligor has been notified of
Insurance Co.’s rights or interests in any Transaction;

               (x) All Personal Property for each Purchased Transaction, exclusive of
the Escrowed Transactions as of the Closing, has been delivered to, and unconditionally accepted
by, the Obligors;

               (xi) Seller has good title to each of the Purchased Transactions (or, in
the case of the Kansas State Bank Transactions, a valid, undivided participation interest therein)
and the Transaction Documents, free and clear of any Lien. With respect to each Purchased
Transaction, Seller (or, in the case of the Kansas State Bank Transactions only, Kansas State Bank
of Manhattan) has good title to, or a first priority security interest in or other Lien on, the
relevant Personal Property, free and clear of any Lien. Seller has not previously assigned, sold or
granted a Lien on any interest that it may have in or under any Purchased Transaction or any
Personal Property. Upon the consummation of the transactions contemplated hereby, Purchaser will be
vested with all right, title and interest of Seller in, to and under each Purchased Transaction,
including the Transaction Documents related thereto, and all Personal Property covered thereby
(exclusive of the Personal Property which is the subject of the Kansas State Bank Transactions),
free and clear of any Lien thereon and will be entitled to all of the benefits provided to Seller
under such Transaction Documents. The assignment of the Transaction Documents to Purchaser (or to
any subsequent assignee of Purchaser) does not (A) contravene or conflict with any law, rule or
regulation or any contractual or other restriction or limitation of any Transaction Document, (B)
require the consent of the Obligor thereof, or (C) result in any Lien except in favor of Purchaser
(or to any subsequent assignee of Purchaser). With respect to the Purchased Transactions, no
Obligor under such Transaction Documents has refused (or has communicated directly or indirectly
its intention to refuse) to recognize the assignment in favor of Seller or Purchaser;

               (xii) As of the Closing Date, the Personal Property, which is the subject of those Purchased
Transactions having remaining aggregate Charges greater than $500,000 after the Closing, is
properly insured as required by the terms of the applicable Transaction Documents for each
Purchased Transaction by insurance obtained by the relevant Obligor, which names Seller, its
successors and assigns, as lender loss payee and additional insured. To Seller’s knowledge, no
casualty, theft, or other loss with respect to any of such Personal Property has occurred prior to
the Closing Date;

               (xiii) Each Purchased Transaction is a commercial transaction for business purposes, and none
of the Personal Property is being used for household, consumer or personal purposes;

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               (xiv) All Taxes (excluding Taxes on net income), fines, fees and other liabilities (which
could result in any defect of title or Lien or limitation of Seller’s rights being assigned hereby
or other costs to Purchaser) relating to each Purchased Transaction, the Payments due under the
Transaction Documents related thereto, and the Personal Property subject to the Purchased
Transactions, all as of the Closing Date, have been paid when due or will be timely remitted by
Seller, or, in the case of the Kansas State Bank Transactions only, by Kansas State Bank of
Manhattan, to the appropriate taxing authority, and all required filings in respect of any such
Taxes, fines, fees and other liabilities have been timely made as to each of the foregoing;

               (xv) No default, event of default or event which, with the passage of
time or notice, or both, would constitute a breach of or an event of default under any of the
Transaction Documents for a Purchased Transaction has occurred and is continuing as of the
Closing Date. None of the Personal Property, which is the subject of the Purchased
Transactions, has been physically repossessed by Seller or any Person on its behalf. With respect
to the Purchased Transactions, none of the Obligors is (A) the subject of a judgment in favor of
Seller or (B) to the knowledge of Seller, a debtor in any bankruptcy, insolvency, or receivership
proceeding, and none of the Personal Property is subject to a plan in any such proceeding;

               (xvi) There is no action, suit, investigation or proceeding pending before any arbitrator,
court or other governmental authority or, to Seller’s knowledge, threatened with respect to any
Purchased Transaction;

               (xvii) Except as expressly disclosed on Schedule 9 attached to, incorporated into,
and made a part of, this Agreement, as of the Closing Date, no Purchased Transaction has been
restructured or amended to (A) change the date of acceptance of the Personal Property under the
Contract, (B) change the date the Charges commence under the Contract, (C) change the date of the
applicable Contract, or (D) increase the total number of scheduled Charges or the related amount
financed. Seller has not paid on behalf of any Obligor any amount payable under any Transaction
Document or loaned or advanced to any Obligor any such amount or made any other accommodation to
any Obligor for the purpose of changing or beneficially affecting the delinquency status of any
Purchased Transaction;

               (xviii) Each Lease Schedule to the Contracts which are applicable the Purchased Transactions
constitutes chattel paper under the Uniform Commercial Code. Each such Lease Schedule incorporates
all of the terms and conditions of the master lease contract under which such Lease Schedule was
issued;

               (xix) The Obligors have waived under the Contract applicable to each Purchased Transaction
the rights and remedies conferred upon them under Article 2A of the Uniform Commercial Code;

               (xx) Each Obligor under any Contract is either (A) a state (as defined in
Section 103(c)(2) of the Code or a political subdivision of a state or (B) a qualified volunteer
fire

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department (as defined in Section 150(e)(2) of the Code). All amounts payable as interest under
each Contract are properly excludable from federal gross income tax pursuant to Section 103 of the
Code (it being understood that this representation and warranty, with respect to the exclusion
from federal gross income tax, is being made with respect to each Contract immediately prior to
the Closing). Except as set forth on Schedule 4 attached to, incorporated into, and made a
part of, this Agreement, each of the Contracts is a “qualified tax-exempt obligation” as defined
in Section 265(b)(3) of the Code.

               (xxi) Each of the Contracts applicable to the Purchased Transactions is denominated and
payable only in U.S. Dollars; and

               (xxii) All security deposits, escrow funds or deposits, impounds, reserves and similar funds,
if any, required by the Transaction Documents and relating to the Purchased Transactions (A) are
under the sole control of Seller and (B) have been deposited with Seller before the Closing Date.

     Section 3.2 Representation and Warranties of Purchaser. Purchaser makes the
following representations and warranties to Seller:

          (a) Organization, Power and Qualification.

               (i) Purchaser is a limited liability company validly existing under the
laws of Indiana, and is duly licensed, qualified, and in good standing to engage in its regular
course of business in each jurisdiction in which the character of its properties or the nature of
its activities requires such qualification, except where the failure to be so qualified, licensed
or in good standing would not affect the enforceability of this Agreement;

               (ii) Purchaser has full power and authority to enter into this Agreement
and to take any action and execute any documents required by the terms hereof;

               (iii) This Agreement and the other Purchase Documents have been duly
authorized by all necessary limited liability company proceedings of Purchaser, have been duly and
validly executed and delivered by Purchaser, and, assuming due authorization, execution and
delivery by Seller, are legal, valid and binding obligations of Purchaser, enforceable against
Purchaser in accordance with the terms hereof, except as such enforcement may be limited by the
Enforceability Exception;

               (iv) No consent, approval, authorization, order, registration or
qualification of, or with, any Person or of or with, any court of law or regulatory authority or
other governmental body having jurisdiction over Purchaser, the absence of which would adversely
affect the legal and valid execution, delivery and performance by Purchaser of this Agreement or
any of the other Purchase Documents or the purchase contemplated hereunder, is required;

               (v) None of the execution and delivery of this Agreement or any of the
other Purchase Documents, the consummation of the transactions contemplated hereby, or the

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fulfillment of or compliance with the terms and conditions of this Agreement or any of the other
Purchase Documents by Purchaser, conflicts with or results in a breach of or a default under, any
of the terms, conditions or provisions of any legal restriction (including any judgment, order,
injunction, decree or ruling of any court or governmental authority, or any federal, state, local
or other law, statute, rule or regulation) or any covenant or agreement or instrument to which
Purchaser is now a party, or by which Purchaser or any of Purchaser’s property is bound, and such
execution, delivery, consummation or compliance does not violate or result in the violation of the
articles of organization or operating agreement of Purchaser;

               (vi) The sale and purchase of the assets contemplated by this
Agreement are being made in the ordinary course of the business of Purchaser;

               (vii) No broker or finder acting on Purchaser’s behalf is entitled to any
fee from Seller in connection with the transactions contemplated by this Agreement; and

               (viii) All factual information prepared by Purchaser and furnished by Purchaser to Seller in
writing at any time in contemplation of this Agreement is, and all such factual information
hereafter furnished by Purchaser in writing to Seller will be, true and accurate in every respect
material to the transactions contemplated hereby on the date as of which such information was or
will be stated or certified.

     Section 3.3 Reliance on Representations and Warranties of Seller. Purchaser shall be
entitled to rely on, and Seller understands that Purchaser is relying on, all representations and
warranties of Seller set forth in this Agreement and other Purchase Documents notwithstanding any
investigation by, or knowledge of, Purchaser.

ARTICLE 4

Additional Covenants

     Section 4.1 Servicing Terms; Escrow Services; Insurance Matters.

          (a) Servicing Agreement. On the Closing Date, Seller and Purchaser shall execute and
deliver the Servicing Agreement. In accordance with the Servicing Agreement, Seller will deliver to
Purchaser: (i) the originals of the Transaction Documents other than those Transaction Documents
(exclusive of the Kansas State Bank Transaction Documents) being held by Kansas State Bank of
Manhattan with respect to the Kansas State Bank Transactions; (ii) the originals and/or copies of
all Additional Documents; and (iii) an electronic copy of Seller’s accounting and servicing records
relating to each Purchased Transaction.

          (b) Escrowed Transactions. Seller will, or will cause its applicable Affiliates to,
perform all of the agreements, duties, and obligations under each of the escrow agreements
applicable to the Escrowed Transactions (the “Escrow Services”) until each such Escrowed
Transaction becomes a Closed-Out Escrow Transaction.

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          (c) Insurance. By the date which is 45 days after the Closing Date, Seller
will
deliver to Purchaser certificates of insurance demonstrating that, with respect to the Personal
Property, which is the subject of those Purchased Transactions having remaining Charges greater
than $500,000 after the Closing, such Personal Property is properly insured as required by the
terms of the applicable Transaction Documents for each such Purchased Transaction by insurance
obtained by the relevant Obligor and which names Seller, its successors and assigns, as lender
loss payee and additional insured.

     Section 4.2 Control of Collection of Payments. Seller will account for all Payments
received by Seller on or after September 1, 2009 in accordance with the Servicing Agreement.

     Section 4.3 Taxes and Tax Payments.

          (a) General Responsibility. Except as provided in Sections 4.3(b),
4.3(c), 4.3(d), 4.3(f) and 5.2 and the Servicing Agreement, Seller
and Purchaser shall bear its own Taxes, if any, in connection with the consummation of the
transactions contemplated by this Agreement, in each case together with any interest or penalty,
which are imposed upon Seller or Purchaser.

          (b) Allocation of Tax Liability For Purchased Transactions. Seller will pay, or, in
the case of the Kansas State Bank Transactions, Kansas State Bank of Manhattan will pay, and will
be responsible for (collectively, “Seller Tax Liability”), all Taxes relating to all
Purchased Transactions and all Personal Property for which the applicable assessment or due date
(i.e., the date on which the Tax liability is levied, becomes affixed, collectible, due or
assignable to the Purchased Transactions, the Personal Property, Seller, or any or all of them)
occurs on or before (i) the Closing Date with respect to all Taxes, exclusive of Sales Tax,
relating to such Purchased Transactions, including all sales, stamp, documentary, and other
transfer Taxes with regard to the sale of the Purchased Transactions to Purchaser and (ii)
September 1, 2009 with respect to all Taxes comprised of Sales Tax relating to such Purchased
Transactions. Seller will pay all Seller Tax Liability when due and payable and file all required
Tax returns or other filings required in connection therewith when due.

          (c) Personal Property Taxes After Closing. The amount of any personal property, ad
valorem or use Taxes, if any, due and payable by Seller or any Obligor under applicable law or
regulation with respect to the Personal Property subject to each Purchased Transaction
(“Personal Property Taxes”) for which the applicable assessment date (i.e., the date on
which the Tax liability is levied, becomes affixed, collectible or assignable to the Purchased
Transactions, Personal Property, Seller, or any or all of them) occurs after the Closing Date will
be determined and paid in accordance with the Servicing Agreement.

          (d) Sale Taxes Regarding Payments After Closing. The amount of applicable sales,
value-added, consumption, gross receipts or similar Taxes measured by the amount of the Payments,
if any, due under applicable law or regulation with respect to the Payments to be received by
Seller or Purchaser on or after September 1, 2009 (“Sales Tax”) will be determined and paid
in accordance with the Servicing Agreement.

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          (e) Cooperation with Respect to Tax Returns. Purchaser and Seller agree to furnish or
cause to be furnished to each other, and each at their own expense, as promptly as practicable,
such reasonable information (including reasonable access to books and records) and commercially
reasonable assistance, including making employees available on a mutually convenient basis to
provide additional information and explanations of any material provided, relating to the Purchased
Transactions as is reasonably necessary for the filing of any tax return, for the preparation for
any audit, and for the prosecution or defense of any claim, suit or proceeding relating to any
adjustment or proposed adjustment with respect to Taxes.

          (f) Tax Exempt Transactions. Notwithstanding anything to the contrary in this
Section 4.3, if (A) a Purchased Transaction is represented by Seller to be exempt from
Personal Property Taxes, Sales Tax, or both, as indicated on any of the Schedules to this Agreement
and (B) there are, in fact, Personal Property Taxes, Sales Tax, or both, required by the applicable
governmental authorities to be paid after the Closing with respect to such Purchased Transactions,
such (1) Personal Property Taxes, Sales Tax, or both, shall not be the liability or responsibility
of Purchaser by virtue of the provisions (or the construction thereof) of this Section 4.3
and (2) Purchased Transactions will be Warranty Breach Purchased Transactions.

     Section 4.4 Expenses. Except as expressly provided in this Agreement, Seller and
Purchaser, whether or not the purchase and sale of the Purchased Transactions is consummated, each
will bear its own legal, accounting and other costs and expenses in connection with the
consummation of the transactions contemplated by this Agreement.

     Section 4.5 Further Assurances.

          (a) Seller agrees that from time to time on and after the Closing, as often as reasonably
requested to do so by Purchaser, Seller will: (i) promptly execute and deliver all further
assignments, instruments and documents, and take all further commercially reasonable action, that
may be necessary or desirable or proper, or that Purchaser may reasonably request, in order to
complete, ensure and perfect the sale, transfer and conveyance to Purchaser of the Purchased
Transactions and Transaction Documents and Seller’s interest in the related Personal Property, to
ensure that any Lien actually or purportedly assigned to Purchaser pursuant to this Agreement
and/or any other Transaction Document continues its first priority, perfected status immediately
following such Closing and the consummation of the other transactions contemplated hereby and
thereby, including executing additional limited, reasonable powers-of-attorney and (ii) cooperate
in a commercially reasonable manner with Purchaser in connection with any transfer to Purchaser of
relevant electronic data concerning the Purchased Transactions contained in Seller’s computer
systems following the Closing subject to compliance with applicable law.

          (b) Seller shall execute and deliver such instruments, documents, data tapes, data maps and
agreements, perform such other commercially reasonable acts, and otherwise provide commercially
reasonable assistance and cooperation to Purchaser as Purchaser may

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reasonably require to fully and completely transfer the servicing of the Purchased Transactions to
Purchaser.

          (c) Seller shall furnish Purchaser, at Purchaser’s request, promptly after
receipt thereof by Seller, all financial statements and/or notices received by Seller from
Obligors.

     Section 4.6 Payment of Brokers’ or Finders’ Fees. Seller shall pay any and all
brokers’ or finders’ fees, and any other commissions or similar fees, payable to any Person acting
on behalf of Seller or any of its Affiliates or under the authority of any of them, in connection
with any of the transactions contemplated herein, and Purchaser shall pay any and all brokers’ or
finders’ fees, and any other commissions or similar fees, payable to any Person acting on behalf of
Purchaser or any of its Affiliates or under the authority of any of them, in connection with any of
the transactions contemplated herein, in each case regardless of whether any claim for payment is
asserted before or after the applicable Closing.

     Section 4.7 Preservation of Purchased Transactions. After transfer of the Purchased
Transactions to Purchaser, Seller shall not take any action that would result in the imposition of
any Lien of any nature with respect to the Personal Property or the Purchased Transactions arising
by or through Seller.

     Section 4.8 Publicity. Purchaser and Seller shall consult with each other concerning
the form and substance of any press release or other public announcement with respect to this
Agreement or the transactions contemplated hereby, and neither party shall issue any such press
release or announcement without the other party’s prior written consent, which consent will not be
unreasonably withheld, delayed or conditioned, unless such press release or public statement is
required by law or the rules of any applicable securities exchange or national market system, in
which case such press release or public statement or filing may be made after providing the other
party a reasonable opportunity to review and comment on such press release or public statement or
filing.

ARTICLE 5

Repurchase; Recourse; and Indemnification Obligations

     Section 5.1 Repurchase; Make-Whole and Recourse Obligations.

          (a) First Payment Default Transaction.

               (i) If any one or more of the Purchased Transactions becomes a First
Payment Default Transaction, then Purchaser shall be entitled to demand that Seller repurchase each
such First Payment Default Transaction by notice (the “First Payment Default Transaction Demand
Notice”) given to Seller. Seller shall be unconditionally and irrevocably obligated to
repurchase each such First Payment Default Transaction within ten (10) Business Days after Seller
receives each such First Payment Default Transaction Demand Notice.

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               (ii) If Seller shall be obligated to repurchase a First Payment Default
Transaction, then, on the date on which such purchase occurs (the “First Payment Default
Transaction Repurchase Date”), Seller shall pay to Purchaser the First Payment Default
Transaction Repurchase Price for each such First Payment Default Transaction. Upon receipt of the
First Payment Default Transaction Repurchase Price, Purchaser promptly shall transfer and reassign
the First Payment Default Transaction to Seller pursuant to an Assignment and Assumption free and
clear of all Liens created by Purchaser but otherwise “AS-IS,” “WHERE-IS” and without
representation, warranty or recourse of any kind.

          (b) Warranty Breach Purchased Transaction.

               (i) If any representation or warranty made by Seller in Section
3.1(b)
with respect to any one or more of the Purchased Transactions is breached or is inaccurate (each
such Purchased Transaction, a “Warranty Breach Purchased Transaction”), then Purchaser
shall be entitled to demand that Seller repurchase each such Warranty Breach Purchased Transaction
by notice (the “Warranty Breach Purchased Transaction Demand Notice”) given to Seller
which shall specify the nature of the breach or inaccuracy. Seller shall be unconditionally and
irrevocably obligated to repurchase each such Warranty Breach Purchased Transaction within twenty
(20) days after Seller receives each such Warranty Breach Purchased Transaction Demand Notice
unless Seller completely cures the breach or inaccuracy on or before such 20th day.

               (ii) If Seller shall be obligated to repurchase a Warranty Breach
Purchased Transaction, then, on the date on which such purchase occurs (the “Warranty Breach
Purchased Transaction Repurchase Date”), Seller shall pay to Purchaser the applicable
Outstanding Investment Balance for each such Warranty Breach Purchased Transaction. Upon receipt
of the Outstanding Investment Balance, Purchaser promptly shall transfer and reassign the Warranty
Breach Purchased Transaction to Seller pursuant to an Assignment and Assumption free and clear of
all Liens created by Purchaser but otherwise “AS-IS,” “WHERE-IS”, and without representation,
warranty or recourse of any kind.

               (iii) This Section 5.1(b) is Purchaser’s sole and exclusive remedy
with
respect to any breach or inaccuracy of Seller of any representation or warranty made by Seller in
Section 3.1(b).

               (iv) The right of Purchaser to cause the repurchase of each Specified
Warranty Breach Purchased Transaction under this Section 5.1(b) will survive the Closing
only until September 17, 2016. The right of Purchaser to cause the repurchase of each Unqualified
Warranty Breach Purchased Transaction will survive the Closing, with respect to such Unqualified
Warranty Breach Purchased Transaction, until all of the Charges due under each Contract applicable
thereto have been paid in full.

          (c) Prepayment Make-Whole. Purchaser will determine promptly after the
end of each calendar quarter ending during the Make-Whole Payment Period whether a Make-Whole Net Payment is due Purchaser from Seller for such calendar quarter then ended. If
Purchaser determines that a Make-Whole Net Payment is due to it for any and each such

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calendar quarter then ended, Purchaser will give notice thereof to Seller together with
Purchaser’s designated supporting documentation therefor (each such notice being, a
“Make-Whole Amount Notice”). Seller shall be unconditionally and irrevocably obligated to
pay to Purchaser each such Make-Whole Net Payment within five (5) Business Days after Seller
receives the Make-Whole Amount Notice. If a Make-Whole Notice is given to Seller, Seller will be
entitled to request and receive such additional documentation regarding the Purchased
Transactions, which is reasonably necessary, to determine that all applicable Prepaid Contracts
are included in such determination of such Make-Whole Net Payment.

          (d) Certain Recourse Obligations of Seller.

               (i) Subject only to the limitations set forth in Section 5.1(d)(iv),
Seller
shall be obligated to pay to Purchaser, in accordance with the provisions of this Section
5.1(d), fifty percent (50%) of the Recourse Loss Amount that Purchaser sustains with respect
to each Purchased Transaction that (A) becomes a Defaulted Transaction on or before the second
anniversary of the Closing Date and (B) is not a First Payment Default Transaction (each such
Purchased Transaction, a “Recourse Transaction”).

               (ii) Purchaser shall notify Seller each time a Purchased Transaction
becomes a Recourse Transaction. Thereafter, Purchaser shall use commercially reasonable
efforts to sell or otherwise dispose of the Personal Property that is the subject of the Recourse
Transaction on commercially reasonable terms. Once Purchaser has determined, in its
discretion, that it has satisfied the requirements specified in the prior sentence, it shall
provide Seller with a written statement that specifies, in reasonable detail, the Recourse Loss
Amount (and the various components thereof) for the Recourse Transaction in question. Subject only
to the limitations set forth in Section 5.1(d)(iv), within five (5) Business Days after
receiving such written statement, Seller shall pay to Purchaser fifty percent (50%) of the
Recourse Loss Amount specified therein.

               (iii) With respect to each Recourse Transaction, following its receipt of
the Recourse Loss Amount payment called for in Section 5.1(d)(ii), Purchaser shall use
commercially reasonable efforts to collect the Recourse Loss Amount from the Obligor on the
Recourse Transaction. Any such amounts that are collected by Purchaser, net of collection costs
and expenses incurred by Purchaser, shall be shared by Purchaser with Seller on a 50%-50% basis,
and, on a quarterly basis, Purchaser shall remit to Seller 50% of such net amounts together with a
written statement that contains a reasonable accounting thereof. Amounts remitted by Purchaser to
Seller pursuant to this Section 5.1(d)(iii) are hereinafter referred to as “Collection
Remittance Amounts.”

               (iv) Notwithstanding anything to the contrary contained in this
Agreement, the aggregate amount that Seller shall be required to pay to Purchaser pursuant to
Section 5.1(d)(ii) shall not exceed the sum of (A) $1,298,006.92 and (B) the aggregate of
all applicable Collection Remittance Amounts.

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          (e) Escrowed Transactions.

               (i) As of the Closing, the Escrowed Transactions are excepted from
certain of the representations and warranties set forth in clauses (v), (vii), and (x) of
Section 3.1(b) as set forth expressly therein (the “Excepted-Out Representations”).
On or before March 17, 2011 (the “Escrow Transactions Deadline”), each of the Escrowed
Transactions must comply fully with each of the representations and warranties set forth in
Section 3.1(b) without exception for any of the Excepted-Out Representations (i.e., as if
such exceptions had not been made in the first instance with respect to such Escrowed Transaction),
including the occurrence of the final acceptance of the Personal Property by the Obligor. If any
Escrowed Transaction does not fully comply with each of the representations and warranties set
forth in Section 3.1(b) by the Escrow Transactions Deadline (each, a “Non-Qualifying
Escrowed Transaction”), then, at Purchaser’s option, Purchaser may elect to (A) extend the
Escrow Transactions Deadline with respect to such otherwise Non-Qualifying Escrowed Transaction or
(B) demand that Seller repurchase each such Non-Qualifying Escrowed Transaction by written notice
(the “Non-Qualifying Escrowed Transaction Demand Notice”) given to Seller. Seller shall be
unconditionally and irrevocably obligated to repurchase each such Non-Qualifying Escrowed
Transaction within ten (10) Business Days after Seller receives each such Non-Qualifying Escrowed
Transaction Demand Notice.

               (ii) If Seller shall be obligated to repurchase a Non-Qualifying
Escrowed Transaction, then, on the date on which such purchase occurs (the “Non-Qualifying
Escrowed Transaction Repurchase Date”), Seller shall pay to Purchaser the applicable
Outstanding Investment Balance for each such Non-Qualifying Escrowed Transaction. Upon receipt of
the Outstanding Investment Balance, Purchaser promptly shall transfer and reassign the
Non-Qualifying Escrowed Transaction to Seller pursuant to an Assignment and Assumption free and
clear of all Liens created by Purchaser but otherwise “AS-IS,” “WHERE-IS”, and without
representation, warranty or recourse of any kind.

     Section 5.2 Indemnity Obligations.

          (a) Indemnity by Seller. Subject to Sections 5.2(c) and
5.2(d), Seller shall
indemnify, hold harmless and defend Purchaser and its Affiliates, and in each such case, their
respective directors, officers, members, managers, employees and agents (collectively, the
“Purchaser Indemnified Parties”), from and against any and all Damages incurred by a
Purchaser Indemnified Party as a result of:

               (i) (A) any breach of Seller’s obligations, covenants, agreements or
undertakings in this Agreement (exclusive of any (1) breach of Section 5.1 or (2) breach
or inaccuracy of a representation or warranty made by Seller in Section 3.1(b); provided,
however, Purchaser retains and shall have the right to enforce each of the agreements, duties, and
obligations of Seller pursuant to Section 5.1) or (B) any breach or inaccuracy of a
representation or warranty made by Seller expressly stated in Section 3.1(a); or

               (ii) Any Claims (other than a Claim in connection with proceedings to
prevent or limit the consummation of the transaction contemplated by this Agreement) asserted

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against a Purchaser Indemnified Party (a “Purchaser Third Party Indemnity Claim”) by a
Person other than a Purchaser Indemnified Party relating to any and all obligations, duties and/or
liabilities of Seller that arise with respect to, or in connection with, the Purchased
Transactions and/or the Additional Documents or Transaction Documents to the extent such Purchaser
Third Party Indemnity Claim is not a Liability assumed by Purchaser under Section 2.1(c).

          (b) Indemnity by Purchaser. Subject to Sections 5.2(c) and 5.2(d),
Purchaser shall indemnify, hold harmless and defend Seller and its Affiliates, and in each such case,
their respective directors, officers, employees and agents (collectively, the “Seller
Indemnified Parties”), from and against any and all Damages incurred by a Seller Indemnified
Party as a result of:

               (i) (A) any breach of Purchaser’s obligations, covenants, agreements
or undertakings in this Agreement or (B) any breach or inaccuracy of a representation or warranty
made by Purchaser in Section 3.2; or

               (ii) As a result of any Claims (other than a Claim in connection with
proceedings to prevent or limit the consummation of the transaction contemplated by this Agreement)
asserted against a Seller Indemnified Party (a “Seller Third Party Indemnity Claim”) by a
Person other than a Seller Indemnified Party relating to any and all obligations, duties and/or
liabilities that arise with respect to, or in connection with, the Purchased Transactions and/or
the Additional Documents or Transaction Documents to the extent such Seller Third Party Indemnity
Claim is a Liability assumed by Purchaser under Section 2.1(c). A Seller Third Party
Indemnity Claim or, as applicable, a Purchaser Third Party Indemnity Claim is referred to as a
“Third Party Claim”.

          (c) General Indemnity Matters. Notwithstanding any provisions of Sections
5.2(a) or 5.2(b) to the contrary, (i) no Claim shall be brought for indemnity to the
extent such Claim is barred by Section 5.4, (ii) no Claim for indemnity with respect to a
breach by Seller or, as applicable, Purchaser of any of their respective “obligations, covenants,
agreements or undertakings” or “representations or warranties” within the meaning of Sections
5.2(a)(i) or 5.2(b)(i) shall include any Claim for any consequential damages,
punitive, special damages, lost profits or other like Damages except to the extent of direct
Damages, if any, recoverable under applicable law for a breach of contract, and (iii) the sole
remedy for any Claim for indemnity with respect to a breach or inaccuracy of any representation or
warranty under Section 3.1(b) shall be solely as provided for in Section 5.1(b).

          (d) Net Recovery. The amount of any Damages for which indemnification is provided
under this Section 5.2 shall be net of any net cash amounts, if any, recovered by, and
paid to, an Indemnitee under insurance policies with respect to such Damages suffered by an
Indemnitee. Each Indemnitee shall use commercially reasonable efforts to make any and all
available insurance claims relating to any Claim for which it is seeking indemnification under
this Section 5.2. Finally, the amount of any Damages claimed by any Indemnitee under this
Section 5.2 shall be reduced to the extent of any net cash amounts, if any, such
Indemnitee recovers from third Persons, including any Obligor, with respect to the matters
relating to such Damages.

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     Section 5.3 Indemnification Procedure. The following procedures shall apply from
and after the Closing Date for the purposes of administering the indemnification provisions of
Section 5.2.

          (a) Notice. An Indemnitee shall promptly notify the Indemnitor of any Indemnification
Event; provided that in the event of any Indemnification Event resulting from or in connection
with any Third Party Claim, an Indemnitee shall give such notice thereof in writing with
reasonable promptness after the assertion of any Third Party Claim against such Indemnitee giving
rise to indemnity pursuant to Section 5.2, including after the receipt of notice of the
commencement of any action or proceeding giving rise to any Third Party Claim. Such
indemnification notice will describe in reasonable detail the basis of such Indemnification Event.
The failure to give notice as required by this Section 5.3(a) in a timely fashion shall
not result in a waiver of any right to indemnification hereunder except to the extent that the
Indemnitor’s ability to defend against the event with respect to which indemnification is sought
is adversely affected by the failure of the Indemnitee to give notice in a timely fashion as
required by this Section 5.3(a).

          (b) Assumption of the Defense. The Indemnitor shall be entitled (but not obligated) to
assume the defense or settlement of any litigation of a Third Party Claim, or to participate in any
negotiations or proceedings to settle or otherwise eliminate any Third Party Claim, if it shall
provide the Indemnitee a written acknowledgment of the Indemnitor’s liability for the indemnity
against Damages relating to such Claim; provided, however, that (i) Purchaser shall have the sole
right, with counsel of its choice, to defend, settle or otherwise dispose of, in its sole
discretion, any Third Party Claim which constitutes a Non-Assumable Claim which is the
responsibility of Seller under Section 5.2(a) and Seller shall not be entitled to assume
the defense thereof and (ii) Seller shall have the sole right, with counsel of its choice, to
defend, settle or otherwise dispose of, in its sole discretion, any Third Party Claim which
constitutes a Non-Assumable Claim which is the responsibility of Purchaser under Section
5.2(b) and Purchaser shall not be entitled to assume the defense thereof. If the Indemnitor
assumes any such defense or settlement or any such negotiations, it shall pursue such defense,
settlement or negotiations in good faith. If the Indemnitor fails to elect in writing within 30
days after the notification referred to in Section 5.3(a) to assume the defense of any
Third Party Claim (or within 10 days prior to the date the Indemnitee is required by law to answer
any complaint or otherwise officially respond to such Third Party Claim), the Indemnitee may engage
counsel to defend, settle or otherwise dispose of such Third Party Claim at the Indemnitor’s sole
cost and expense; provided, further, that the Indemnitee shall not settle or compromise any such
Third Party Claim without the further written consent or agreement of the Indemnitor (which consent
will not be unreasonably withheld or delayed). Notwithstanding anything to the contrary in the
immediately preceding sentence, the Indemnitee shall not need the Indemnitor’s consent for a
settlement or compromise of a Third Party Claim if: (A) there is no finding or admission of any
violation of applicable law by the Indemnitor, (B) no material adverse affect will occur with
respect to any other related Third Party Claims then pending against the Indemnitor and (C) the
sole relief provided is monetary damages that are the full responsibility of the Indemnitor under
Section 5.2.

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          (c) Counsel; Settlement. In cases where the Indemnitor has assumed the defense or
settlement with respect to an Indemnification Event, the Indemnitor shall be entitled to assume the
defense or settlement thereof with counsel of its own choosing; provided that: (i) the Indemnitee
(and its counsel) shall be entitled to continue to participate at its own cost (except as provided
in Section 5.3(e)) in any such action or proceeding or in any negotiations or proceedings
to settle or otherwise eliminate any Third Party Claim for which indemnification is being sought;
(ii) the Indemnitor shall not be entitled to settle or compromise any such Third Party Claim
without the consent or agreement of the Indemnitee (which consent will not be unreasonably withheld
or delayed); provided that if and only if such consent is withheld by the Indemnitee and the
settlement or compromise of the Third Party Claim involves only the payment of monetary damages and
provides an unconditional release of the Indemnitee, the Indemnitor’s liability shall be limited to
the amount for which the Indemnitor agreed with the claimant to settle, and the Indemnitor shall
remain responsible for its costs and attorneys’ fees to the date such settlement was rejected by
the Indemnitee, and the Indemnitee shall be responsible for the costs and attorneys’ fees and
disbursements in respect of such Third Party Claim thereafter; and (iii) after written notice by
the Indemnitor to the Indemnitee of the Indemnitor’s election to assume control of the defense of
any Third Party Claim in accordance with Section 5.3(b), the Indemnitor shall not be liable
to such Indemnitee hereunder for any attorneys’ fees and disbursements and disbursements
subsequently incurred by such Indemnitee in connection therewith (except as provided in Section
5.3(e)).

          (d) Assistance. If indemnification under Section 5.2 is requested, the
relevant Indemnitor, its representatives and agents, shall have access to the premises, books and
records of the Indemnitees seeking such indemnification and their respective Affiliates to the
extent reasonably necessary to assist it in defending or settling any Third Party Claim; provided,
that such access shall be conducted in such manner as not to interfere unreasonably with the
operation of the business of the Indemnitees. Except as reasonably necessary to assist it in
defending or settling such Third Party Claim pursuant to a mutually acceptable joint defense
agreement, the Indemnitee shall not be required to disclose any attorney-client privileged
information with respect to itself or any of its Affiliates (or former Affiliates), and the
Indemnitee shall not be required to participate in the defense of any Third Party Claim to be
indemnified hereunder (except as otherwise expressly set forth herein), unless otherwise required
or reasonably necessary in the defense or any Claim to be indemnified hereunder.

          (e) Separate Counsel. Notwithstanding anything to the contrary in this Section
5.3, the Indemnitor (whether or not the Indemnitor shall have assumed the defense of such
Indemnification Event) shall continue to pay the reasonable attorneys’ fees and disbursements and
other reasonable out-of-pocket costs for up to one set of attorneys (i) for all Indemnitees, with
respect to such Indemnitees’ participation in any Third Party Claim, to the extent such
Indemnitees’ participation relates to a defense that the Indemnitees have that the Indemnitor does
not have or which relates to a Claim or defense as to which the attorneys for the Indemnitor have
a conflict of interest vis-à-vis the Indemnitees or (ii) relating to discovery against or
testimony of such Indemnitee and for participation of such Indemnitee’s own counsel in such
discovery and testimony.

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     Section 5.4 Indemnification Thresholds.

          (a) Seller’s Threshold. Notwithstanding any provisions of Section 5.2 to the
contrary, Seller shall not have any obligation to provide indemnification under Section
5.2(a) to Purchaser with respect to any Indemnification Event until the aggregate amount of all
Damages that are incurred by Purchaser or any other Purchaser Indemnified Party in respect of all
Indemnification Events to be indemnified against by Seller exceeds $150,000, and then only to the
extent of the excess.

          (b) Purchaser’s Threshold. Notwithstanding any provisions of Section 5.2 to
the contrary, Purchaser shall not have any obligation to provide indemnification under Section
5.2(b) to Seller with respect to any Indemnification Event until the aggregate amount of all
Damages that are incurred by Seller or any other Seller Indemnified Party in respect of
Indemnification Events to be indemnified against by Purchaser exceeds $150,000, and then only to
the extent of the excess.

ARTICLE 6

General

     Section 6.1 Successor and Assigns. Neither party may assign all or any of its rights
or
delegate all or any of its duties under this Agreement except (a) as expressly provided in the
Servicing Agreement, (b) with the prior written consent of the other party, or (c) by operation of
law as a result of a merger or consolidation; provided that Purchaser may assign all of its rights
and obligations hereunder to any other Affiliate of PNC Financial Services Group, Inc.

     Section 6.2 No Partnership, etc. Neither this Agreement (or anything in this
Agreement) nor any other Purchase Document is intended to make either party, the employee,
subsidiary, Affiliate, joint venturer, partner, owner, or agent of the other party.

     Section 6.3 No Third Party Rights. Nothing expressed or mentioned in or to be
implied from this Agreement is intended or shall be construed to give any Person other than
Purchaser or Seller any legal or equitable right, remedy or claim under or in respect of this
Agreement. This Agreement and all of the covenants, conditions and provisions hereof are intended
to be and are for the sole and exclusive benefit of the parties hereto.

     Section 6.4 Payments In Immediately Available Funds. Each payment to be made
hereunder shall be made on the required payment date in lawful money of the United States and in
New York Federal Reserve or other funds immediately available in Evansville, Indiana and, as
applicable, Cincinnati, Ohio.

     Section 6.5 Waivers. No failure or delay on the part of Seller or Purchaser in
exercising any power, right or remedy under this Agreement shall operate as a waiver thereof, nor
shall any single or partial exercise of any such power, right or remedy preclude any other or

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further exercise thereof or the exercise of any other power, right or remedy. All rights and
remedies of each party hereto shall be cumulative and may be exercised singularly or concurrently,
at that party’s option, and the exercise or enforcement of any one such right or remedy by such
party shall not be a bar or condition to the exercise or enforcement of any other rights or
remedies of that party.

     Section 6.6 Notice.

          (a) Addresses. All notices, demands, requests for consent, and other
communications (“Notices”) under this Agreement shall, except as expressly provided in
this Agreement, be in writing and shall be given by: (i) personal delivery, (ii) telephone
facsimile, (iii) overnight courier, or (iv) certified U.S. mail, postage prepaid, return receipt
requested; such Notices to be addressed to the parties at the addresses set forth below:

	 	 	 	 	 
	 

	 	If to Purchaser:
	 	National City Commercial Capital Company, LLC
	 

	 	 	 	995 Dalton Avenue 
	 

	 	 	 	Cincinnati, Ohio 45203 
	 

	 	 	 	Attention: General Counsel 
	 

	 	 	 	Facsimile: (513) 455-2398
	 
	 	 	 	 
	 

	 	If to Seller:
	 	Old National Bank
	 

	 	 	 	1 Main Street 
	 

	 	 	 	Evansville, Indiana 47708 
	 

	 	 	 	Attention: Chief Legal Counsel 
	 
	 	 	 	Facsimile: (812) 468-0399
					
	 
	 	 	 	 
	 	 	With a copy to (which shall not constitute Notice):
	 
	 	 	 	 
	 

	 	 	 	Michael J. Messaglia, Esq. 
	 

	 	 	 	Krieg DeVault LLP 
	 

	 	 	 	One Indiana Square, Suite 2800 
	 

	 	 	 	Indianapolis, Indiana 46204 
					Facsimile: (317) 636-1507

          (b) Change of Notice. Any party may change its address for Notices hereunder by
notice to each other party hereunder given in accordance with this Section 6.6.

          (c) Effectiveness of Notice. Each Notice shall be effective (i) if given by
facsimile, when such facsimile is transmitted to the facsimile number specified in this
Section 6.6 and confirmation of receipt is made by the sending party so long as such
facsimile is given on a Business Day on or before 5:00 p.m. (EST), in the case of Purchaser, and
Central Standard Time in the case of Seller and, if given after 5:00 p.m. (EST), in the case of
Purchaser, and Central Standard Time in the case of Seller, on a Business Day or any day other
than a Business Day, such facsimile shall be deemed to be given on the immediately following
Business Day, (ii) if given by overnight courier, on the next Business Day after such Notice is
deposited with such overnight courier for delivery, addressed as aforesaid, (iii) if given by
certified U.S. mail, on the

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date which is the fifth day after the day such Notice is deposited with the U.S. certified mail,
postage prepaid, return receipt requested, or (iv) if given by any other means, when delivered at
the address specified in this Section 6.6.

     Section 6.7 Entire Agreement, Modification, Severability. This Agreement and all
other Purchase Documents set forth the entire understanding of the parties relating to the subject
matter hereof, and all other and/or prior understandings, negotiations, or agreements, written or
oral, relating to the subject matter hereof are hereby superseded. This Agreement may not be
modified, amended, waived, terminated or supplemented except in accordance with its express terms
and in writing executed by Seller and Purchaser. Any provision of this Agreement which is
prohibited or unenforceable in any jurisdiction shall be, as to such jurisdiction, 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 6.8 Headings and Cross-References. The various headings in this Agreement
are included for convenience only and shall not affect the meaning or interpretation of any
provision of this Agreement. References to any Section are to such Section of this Agreement.

     Section 6.9 Governing Law. This Agreement shall be governed by applicable Federal
law and the internal substantive laws of the State of Ohio, without regard to principles of
conflicts of law or choice of law.

     Section 6.10 Counterparts. This Agreement may be executed in any number of
counterparts and by different parties to this Agreement in separate counterparts, each of which
when so executed shall be deemed to be an original and all of which taken together shall constitute
one and the same Agreement. This Agreement and the other Purchase Documents may be signed by
facsimile signatures or other electronic delivery of an image file reflecting the execution
thereof, and if so signed, (a) may be relied on by each party as if the documents were a manually
signed original and (b) will be binding on each party for all purposes. This Agreement shall become
effective when Seller and Purchaser shall have received a counterpart of this Agreement executed by
the other party to this Agreement.

     Section 6.11 Survival. Except as expressly provided in Section 5.1(b)(iv),
the
representations, warranties, covenants and agreements in this Agreement or in any other Purchase
Document that by their terms could apply in whole or in part after the Closing shall survive the
Closing for a period necessary for the parties to enforce their respective rights under this
Agreement and shall not be merged into other documents to be delivered at the Closing.

     Section 6.12 Construction. The terms and conditions of this Agreement and the other
Purchase Documents represent the results of bargaining and negotiations among the parties, each of
which has been represented by counsel of its own selection, and none of which has acted under
duress or compulsion, whether legal, economic or otherwise, and represent the results of a combined
draftsmanship effort. Consequently, the terms and conditions hereof shall be interpreted and
construed in accordance with their usual and customary meanings, and the parties hereby expressly
waive and disclaim in connection with the interpretation and construction

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hereof any rule of law or procedures requiring otherwise, specifically including any rule of law to
the effect that ambiguous or conflicting terms or conditions contained herein shall be interpreted
or construed against the party whose counsel prepared this Agreement or any earlier draft hereof.
All of the obligations of ONB and Insurance Co. hereunder as “Seller” are joint, several and
primary. Neither ONB nor Insurance Co. shall be or be deemed to be an accommodation party with
respect to each other under this Agreement.

     Section 6.13 Prevailing Party Fees. Purchaser will pay to Seller the reasonable
attorneys’ fees of Seller if Seller is the prevailing party in any suit for damages (or an
injunction) brought by Seller against Purchaser for a material breach (or a threatened material
breach) by Purchaser of this Agreement or any of the other Purchase Documents, and Seller will pay
to Purchaser the reasonable attorneys’ fees of Purchaser if Purchaser is the prevailing party in
any suit for damages (or an injunction) brought by Purchaser against Seller for a material breach
(or a threatened material breach) by Seller of this Agreement or any of the other Purchase
Documents.

     Section 6.14 Jurisdiction, Forum Selection Venue. SELLER AND PURCHASER (A) AGREE TO
SUBMIT FOR THEMSELVES, AND ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER
PURCHASE DOCUMENT OR FOR RECOGNITION AND ENFORCEMENT OF ANY JUDGMENT IN RESPECT HEREOF, TO EITHER
(1) THE JURISDICTION OF THE COURTS OF THE STATE OF OHIO SITTING IN HAMILTON COUNTY, OHIO, THE
COURTS OF THE UNITED STATES OF AMERICA FOR THE SOUTHERN DISTRICT OF OHIO SITTING IN HAMILTON
COUNTY, OHIO, AND APPELLATE COURTS FROM ANY THEREOF OR (2) THE JURISDICTION OF THE COURTS OF THE
STATE OF INDIANA SITTING IN VANDERBURGH COUNTY, INDIANA, THE COURTS OF THE UNITED STATES OF AMERICA
FOR THE SOUTHERN DISTRICT OF INDIANA SITTING IN VANDERBURGH COUNTY, INDIANA, AND APPELLATE COURTS
FROM ANY THEREOF, (B) CONSENT THAT ANY ACTION OR PROCEEDING SHALL BE BROUGHT IN SUCH COURTS SITTING
IN EITHER HAMILTON COUNTY, OHIO OR VANDERBURGH COUNTY, INDIANA, AND WAIVE ANY OBJECTION THAT EACH
MAY NOW OR HEREAFTER HAVE TO THE VENUE OF ANY SUCH ACTION OR PROCEEDING IN ANY SUCH COURT, (C)
AGREE THAT SERVICE OF PROCESS OF ANY SUCH ACTION OR PROCEEDING MAY BE EFFECTED BY CERTIFIED MAIL
(OR ANY SUBSTANTIALLY SIMILAR FORM OF MAIL), POSTAGE PREPAID, TO THE APPROPRIATE PARTY AT ITS
ADDRESS AS SET FORTH HEREIN, AND SERVICE MADE SHALL BE DEEMED TO BE COMPLETED UPON THE EARLIER OF
ACTUAL RECEIPT OR FIVE (5) DAYS AFTER THE SAME SHALL HAVE BEEN POSTED AS AFORESAID, AND (D) AGREE
THAT NOTHING HEREIN SHALL AFFECT THE RIGHT TO EFFECT SERVICE OF PROCESS IN ANY OTHER MANNER
PERMITTED BY LAW. SELLER WAIVES ANY OBJECTION WITH RESPECT TO SUCH COURTS BASED ON FORUM NON
CONVENIENS OR VENUE OF ANY ACTION INSTITUTED HEREUNDER.

     Section 6.15 Waiver of Jury Trial. THE PARTIES TO THIS AGREEMENT HEREBY
UNCONDITIONALLY WAIVE THEIR RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED
UPON OR ARISING OUT OF, DIRECTLY OR INDIRECTLY, THIS AGREEMENT, ANY OF THE OTHER PURCHASE
DOCUMENTS, ANY DEALINGS BETWEEN THEM RELATING TO THE SUBJECT MATTER OF THIS

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TRANSACTION OR ANY RELATED TRANSACTION, AND/OR THE RELATIONSHIP
THAT IS BEING ESTABLISHED BETWEEN THEM. THE SCOPE OF THIS WAIVER IS
ALL ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY
COURT (INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS, TORT CLAIMS,
BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY
CLAIMS). THIS WAIVER IS IRREVOCABLE, MEANING THAT IT MAY NOT BE
MODIFIED EITHER ORALLY OR IN WRITING, AND THIS WAIVER SHALL APPLY TO
ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR
MODIFICATIONS TO THIS AGREEMENT OR TO ANY OTHER PURCHASE
DOCUMENTS RELATING TO THIS TRANSACTION OR ANY RELATED
TRANSACTION. IN THE EVENT OF LITIGATION, THIS AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO A
TRIAL BY THE COURT.

{Signature Page Follows}

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

	 	 	 	 	 	 	 
	 	 	OLD NATIONAL BANK	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Title:
	 	/s/ Christopher A. Wolking
 

Sr. Executive Vice President
	 	 
	 

	 	Name:
	 	Christopher A. Wolking	 	 
	 
	 	 	 	 	 	 
	 	 	INDIANA OLD NATIONAL INSURANCE COMPANY	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Title:
	 	/s/ Christopher A. Wolking
 

President
	 	 
	 

	 	Name:
	 	Christopher A. Wolking	 	 
	 
	 	 	 	 	 	 
	 	 	NATIONAL CITY COMMERCIAL CAPITAL COMPANY, LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Title:
	 	/s/ Vincent Rinaldi
 

Manager
	 	 
	 

	 	Name:
	 	Vincent Rinaldi	 	 

-35-

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