Document:

Exhibit 4.72 TALA III Amendment to 2009-1 Supplement

	
	
	TAL ADVANTAGE III LLC

	Issuer

	 

	and

	WELLS FARGO BANK, NATIONAL ASSOCIATION

	Indenture Trustee

	 

	 

	 

	SECOND AMENDED AND RESTATED SERIES 2009-1 SUPPLEMENT

	 

	Dated as of October 10, 2014

	 

	to

	INDENTURE

	 

	Dated as of August 12, 2011

	 

	 

	 

	SERIES 2009-1 FLOATING RATE SECURED NOTES

TABLE OF CONTENTS
	
					
	 
	 
	 
	Page
	

	ARTICLE I DEFINITIONS
	1
	

	 
	Section 101.
	Definitions
	1
	

	 
	 
	 
	 

	ARTICLE II CREATION OF THE SERIES 2009-1 NOTES, MODICIATION OF INDENTURE
	8
	

	 
	Section 201.
	Designation and Principal Terms
	8
	

	 
	Section 202.
	Authentication and Delivery
	9
	

	 
	Section 203.
	Interest and Other Payments on the Series 2009-1 Notes
	10
	

	 
	Section 204.
	Principal Payments on the Series 2009-1 Notes; Scheduled Amortization of Series 2009-1 Notes
	10
	

	 
	Section 205.
	Amounts and Terms of Series 2009-1 Noteholder Commitments
	11
	

	 
	Section 206.
	Taxes
	12
	

	 
	Section 207.
	Increased Costs
	15
	

	 
	Section 208.
	Capital Requirements
	16
	

	 
	Section 209.
	Replacement of Series 2009-1 Noteholder
	17
	

	 
	Section 210.
	Defaulting Noteholders
	17
	

	 
	 
	 
	 

	ARTICLE III SERIES 2009-1 SERIES ACCOUNT AND ALLOCATION AND APPLICATION OF AMOUNTS THEREIN
	19
	

	 
	Section 301.
	Series 2009-1 Series Account
	19
	

	 
	Section 302.
	Distributions from Series 2009-1 Series Account
	19
	

	 
	 
	 
	 

	ARTICLE IV  ADDITIONAL COVENANTS; ADDITIONAL EVENTS OF DEFAULT
	21
	

	 
	Section 401.
	Increase in the Aggregate Series 2009-1 Note Existing Commitment
	21
	

	 
	Section 402.
	Issuance of Additional Series of Notes
	21
	

	 
	Section 403.
	Use of Proceeds
	21
	

	 
	Section 404.
	Consent of the Majority of Holders
	21
	

	 
	Section 405.
	United States Federal Income Tax Election
	21
	

	 
	 
	 
	 

	ARTICLE V CONDITIONS OF RESTATEMENT OF SUPPLEMENT AND FUTURE LENDING
	21
	

	 
	Section 501.
	Conditions to Restatement of Supplement
	21
	

	 
	Section 502.
	Advances on Series 2009-1 Notes
	22
	

	 
	 
	 
	 

	ARTICLE VI REPRESENTATIONS AND WARRANTIES
	23
	

	 
	Section 601.
	Existence
	23
	

	 
	Section 602.
	Authorization
	23
	

	 
	Section 603.
	No Conflict; Legal Compliance
	23
	

	 
	Section 604.
	Validity and Binding Effect
	23
	

	 
	Section 605.
	Material Adverse Change
	23
	

	 
	Section 606.
	Place of Business
	23
	

	 
	Section 607.
	No Agreement or Contracts
	24
	

	 
	Section 608.
	Consents and Approvals
	24
	

	 
	Section 609.
	Margin Regulations
	24
	

	 
	Section 610.
	Taxes
	24
	

	 
	Section 611.
	Other Regulations
	24
	

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	Section 612.
	Solvency and Separateness
	25
	

	 
	Section 613.
	No Default
	25
	

	 
	Section 614.
	Litigation and Contingent Liabilities
	25
	

	 
	Section 615.
	Title; Liens
	25
	

	 
	Section 616.
	Subsidiaries
	25
	

	 
	Section 617.
	No Partnership
	25
	

	 
	Section 618.
	Pension and Welfare Plans
	26
	

	 
	Section 619.
	Ownership of the Issuer
	26
	

	 
	Section 620.
	Security Interest Representations
	26
	

	 
	Section 621.
	Tax Election of the Issuer
	27
	

	 
	Section 622.
	FATCA
	27
	

	 
	Section 623.
	Survival of Representations and Warranties
	27
	

	 
	 
	 
	 

	ARTICLE VI MISCELLANEOUS PROVISIONS
	27
	

	 
	Section 701.
	Ratification of Indenture
	27
	

	 
	Section 702.
	Counterparts
	27
	

	 
	Section 703.
	Governing Law
	27
	

	 
	Section 704.
	Amendments and Modifications
	28
	

	 
	Section 705.
	Consent to Jurisdiction
	28
	

	 
	Section 706.
	Waiver of Jury Trial
	28
	

	 
	Section 707.
	Ratification of Original Supplement
	28
	

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This SECOND AMENDED AND RESTATED SERIES 2009-1 SUPPLEMENT, dated as of October 10, 2014 (as amended, modified or supplemented from time to time in accordance with the terms hereof, this “Supplement”), is between TAL ADVANTAGE III LLC, a limited liability company organized under the laws of Delaware (the “Issuer”), and WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association, as indenture trustee (the “Indenture Trustee”).
WHEREAS, the Issuer and the Indenture Trustee have entered into that certain Indenture (as defined herein) and that certain Amended and Restated Series 2009-1 Supplement, dated as of August 12, 2011 (as amended, the “Original Supplement”); and
WHEREAS, the Issuer and the Indenture Trustee (acting with the consent of the Existing Series 2009-1 Noteholders) wish to modify the terms of the Original Supplement and, for ease of reference, restate the Original Supplement as so modified; and
WHEREAS, the Issuer and the Indenture Trustee (acting with the consent of the Existing Series 2009-1 Noteholders) wish to set forth the Principal Terms of Series 2009-1;
NOW THEREFORE, in consideration of the mutual agreements herein contained, each party agrees as follows for the benefit of the other parties and the Series 2009-1 Noteholders:
Article I
Definitions
Section 101.    Definitions.  (a)  Whenever used in this Supplement, the following words and phrases shall have the following meanings, and the definitions of such terms are applicable to the singular as well as the plural forms of such terms and to the masculine as well as to the feminine and neuter genders of such terms.
“Additional Series 2009-1 Noteholder” shall have the meaning set forth in Section 205(d).
“Adjusted Eurodollar Rate” means, for any Interest Accrual Period, an interest rate per annum equal to the quotient, expressed as a percentage and rounded upwards (if necessary) to the nearest 1/1000 of 1%, obtained by dividing (i) LIBOR on the second Business Day immediately preceding the first day of such Interest Accrual Period by (ii) the decimal equivalent of 100% minus the Eurodollar Reserve Percentage on the second Business Day immediately preceding the first day of such Interest Accrual Period.
“Aggregate Series 2009-1 Principal Balance” means, as of any date of determination, an amount equal to the sum of the Series 2009-1 Principal Balances of all Series 2009-1 Notes then Outstanding.
“Applicable Funding Basis” means, for any day during any Interest Accrual Period, one of the following:
(i)    if no Eurodollar Disruption Event is then continuing, the Adjusted Eurodollar Rate; or
(ii)    if a Eurodollar Disruption Event is then continuing, the Base Rate.
“Applicable Margin” means, for any Interest Accrual Period, one of the following amounts:

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(i)    prior to the Conversion Date, one and sixty-five hundredths of one percent (1.65%); or
(ii)    on or after the Conversion Date, two and sixty-five hundredths of one percent (2.65%).
The amount of the Applicable Margin may, with the consent of all Series 2009-1 Noteholders, be increased or decreased from time to time in connection with an increase in the Series 2009-1 Note Existing Commitments in accordance with the provisions of Section 205(d).
“Availability” means, as of any date of determination for any Series 2009-1 Noteholder, the lesser of:
(A) the excess, if any, of (x) the Series 2009-1 Note Existing Commitment of such Series 2009-1 Noteholder on such date of determination over (y) the then Series 2009-1 Principal Balance of the Series 2009-1 Note owned by such Series 2009-1 Noteholder on such date of determination; and
(B) such Series 2009-1 Noteholder’s Percentage of an amount equal to the excess of (x) the Asset Base, over (y) the then Aggregate  Series 2009-1 Principal Balance (calculated without giving effect to the requested Series 2009-1 Advance).
“Base Rate” means on any date, a fluctuating rate of interest per annum equal to the highest of (a) the Prime Rate, (b) the Federal Funds Rate plus 0.50% per annum, and (c) if a Market Disruption Pricing Event has occurred and is then continuing with respect to a Series 2009-1 Noteholder, an interest rate per annum solely with respect to such Series 2009-1 Noteholder equal to the lesser of (x) one and one half of one percent (1.50%) over the then Adjusted Eurodollar Rate (determined in accordance with the terms of this Supplement) and (y) the Actual Cost of Funds (as such term is set forth in the definition of Market Disruption Pricing Event).  Such Series 2009-1 Noteholder shall notify the Issuer in writing of its Actual Cost of Funds for each applicable Interest Accrual Period promptly after such Series 2009-1 Noteholder shall become aware that a Market Disruption Pricing Event shall have occurred with respect to such Series 2009-1 Noteholder, which notification shall be determinative absent manifest error.
“Benefit Plan Investor” means an “employee benefit plan” as defined in Section 3(3) of ERISA whether or not it is subject to Title I of ERISA, a “plan” within the meaning of Section 4975(e)(1) of the Code or an entity whose underlying assets include “plan assets” of any of the foregoing by reason of an employee benefit plan’s or plan’s investment in such entity. 
“Breakage Costs” means, with respect to an Interest Accrual Period, any reasonable loss, cost or expense incurred by a Series 2009-1 Noteholder, including, without limitation, any loss (including loss of anticipated profits, net of anticipated profits in the reemployment of such funds), cost or expense incurred by reason of the liquidation or reemployment of deposits or other funds acquired by such Series 2009-1 Noteholder to fund or maintain a Series 2009-1 Advance, as the case may be, during such Interest Accrual Period.
“Commitment Fee” shall have the meaning set forth in Section 205(c) hereof.
“Commitment Fee Percentage” means as of any date of determination, one of the following:
(i)    if the quotient (expressed as a percentage) obtained by dividing (x) the Aggregate Series 2009-1 Principal Balance by (y) the sum of the Series 2009-1 Note Existing Commitments of all Series 

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2009-1 Noteholders shall be less than fifty percent (50%) as of such date of determination, four tenths of one percent (0.40%) per annum; or
(ii)    if the quotient (expressed as a percentage) obtained by dividing (y) the Aggregate Series 2009-1 Principal Balance by (y) the sum of the Series 2009-1 Note Existing Commitments of all Series 2009-1 Noteholders shall be equal to or greater than fifty percent (50%) as of such date of determination, three tenths of one percent (0.30%) per annum. 
“Control Party” means, with respect to the Series 2009-1 Notes, the Majority of Holders of the Series 2009-1 Notes.
“Conversion Date” means, with respect to the Series 2009-1 Notes, the earlier to occur of (i) the date on which an Early Amortization Event occurs under any Series of Notes issued pursuant to the Indenture, and (ii) the Scheduled Commitment Expiration Date.
“Default Fee” means, for any Payment Date on which interest on overdue amounts is payable in accordance with the provisions of Section 203(b) hereof, the amount of interest payable on such Payment Date pursuant to the provisions of Section 203(b).
“Default Rate” means, for any date of determination, an interest rate per annum equal to the sum of (i) the interest rate then otherwise in effect, plus (ii) two percent (2%).
“Defaulting Noteholder” means any Series 2009-1 Noteholder that (a) has failed to fund any portion of any Series 2009-1 Advances required to be funded by it hereunder or under the Series 2009-1 Note Purchase Agreement, within two Business Days of the date required to be funded by it hereunder, (b) has otherwise failed to pay over to the Administrative Agent or any other Series 2009-1 Noteholder any other amount required to be paid by it under the Series 2009-1 Transaction Documents within two Business Days of the date when due, unless the subject of a good faith dispute, (c) has notified the Issuer (or any of its Affiliates) or the Administrative Agent in writing that it does not intend to comply with its funding obligations hereunder, or has made a public statement to that effect, (d) has failed, within three Business Days after written request by the Administrative Agent or the Issuer, to confirm in writing to the Administrative Agent and the Issuer that it will comply with its prospective funding obligations hereunder (provided that such Noteholder shall cease to be a Defaulting Noteholder pursuant to this clause (d) upon receipt of such written confirmation by the Administrative Agent and the Issuer), or (e) has, or has a direct or indirect parent company that has, (i) become the subject of a proceeding under any Insolvency Law, or (ii) had appointed for it a receiver, custodian, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or assets, including the Federal Deposit Insurance Corporation or any other state or federal regulatory authority acting in such a capacity; provided that a Series 2009-1 Noteholder shall not be a Defaulting Noteholder solely by virtue of the ownership or acquisition of any equity interest in that Series 2009-1 Noteholder or any direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result in or provide such Series 2009-1 Noteholder with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Series 2009-1 Noteholder (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Series 2009-1 Noteholder.  Any determination by the Administrative Agent that a Series 2009-1 Noteholder is a Defaulting Noteholder under clauses (a) through (d) above shall be conclusive and binding absent manifest error, and such Series 2009-1 Noteholder shall be deemed to be a Defaulting Noteholder (subject to Section 210(c)) upon delivery of written notice of such determination to the Issuer and each Series 2009-1 Noteholder.  

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“Deficiency Amount” means (a) for each Payment Date other than the Series 2009-1 Legal Final Maturity Date, any shortfall in the aggregate amount available in the Series 2009-1 Series Account for the Series 2009-1 Notes or any other amounts available under the Indenture or this Supplement to pay the Series 2009-1 Interest Payment for such Payment Date, and (b) on the Series 2009-1 Legal Final Maturity Date, any shortfall in the aggregate amount available in the Series 2009-1 Series Account or any other amounts available under the Indenture or this Supplement to pay the then Aggregate Series 2009-1 Principal Balance, accrued but unpaid interest thereon and all other amounts owing to the Series 2009-1 Noteholders pursuant to the terms of the Series 2009-1 Transaction Documents.
“Dollars” and the sign “$” means lawful money of the United States of America.
“Early Amortization Event” shall have the meaning set forth in Appendix A to the Indenture.
“Eurodollar Disruption Event” means as of any date of determination, the existence of any of the following events or conditions: (a) a reasonable determination by a Series 2009-1 Noteholder that it would be contrary to law, or to the directive of any central bank or other governmental authority (whether or not having the force of law), to obtain Dollars in the London interbank market to make, fund or maintain its investment in any Series 2009-1 Note, (b) the inability of a Series 2009-1 Noteholder (due to no fault of its own) to obtain Dollars in the London interbank market to make, fund or maintain its investment in any Series 2009-1 Note, (c) a determination by a Series 2009-1 Noteholder (or any of its assignees or participants) or the related Deal Agent that the Adjusted Eurodollar Rate does not accurately reflect the rate at which deposits of Dollars are being offered to such Series 2009-1 Noteholder in the London interbank market, or (d) any Series 2009-1 Noteholder (or any of its assignees or participants) shall have notified the Deal Agent of the inability, for any reason, of such Series 2009-1 Noteholder (or any of its assignees or participants) to determine the Adjusted Eurodollar Rate.
“Existing Series 2009-1 Noteholder” means any Person that was a Series 2009-1 Noteholder immediately prior to the Restatement Effective Date.
“FATCA” means:
(a)    Sections 1471 to 1474 of the Code or any current or future associated regulations or other official guidance that is substantially comparable and not materially more onerous to comply with;
(b)    any treaty, law, regulation or other official guidance enacted in any other jurisdiction, or relating to an intergovernmental agreement between the U.S. and any other jurisdiction, which (in either case) facilitates the implementation of paragraph (a) above; or
(c)    any agreement pursuant to the implementation of paragraphs (a) or (b) above with the U.S. Internal Revenue Service, the U.S. government or any governmental or taxation authority in any other jurisdiction.
“Federal Funds Rate” means as of any date of determination, a fluctuating interest rate per annum equal to the weighted average of the federal funds rates and confirmed in Federal Reserve Board Statistical Release H.15 (519) or any successor or substitute publication selected by the Indenture Trustee (or, if such day is not a Business Day, for the next preceding Business Day), or, if, for any reason, such rate is not available on any day, the rate determined, in the sole opinion of the Indenture Trustee, to be the rate at which federal funds are being offered for sale in the national federal funds market at 9:00 a.m. (New York City time on such day).
“Indemnified Party” has the meaning given thereto in Section 206.

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“Indenture” means the Amended and Restated Indenture, dated as of August 12, 2011, between the Issuer and the Indenture Trustee, as the same may be amended, amended and restated or otherwise modified from time to time.
“Interest Accrual Period” means with respect to each Series 2009-1 Advance, the period commencing on and including the immediately preceding Payment Date and ending on the day immediately preceding the next Payment Date.  In the case of a Series 2009-1 Advance made on a date other than the first day of an Interest Accrual Period, the initial Interest Accrual Period for such Series 2009-1 Advance shall begin on the day of such Series 2009-1 Advance and shall end on the day immediately preceding the Payment Date in the following month.  When switching from Adjusted Eurodollar Rate to Base Rate funding, the first Interest Accrual Period with respect to such Base Rate funding shall begin on the date of such switch and shall end on a date selected by the Issuer in its discretion.  Each Existing Series 2009-1 Noteholder shall be paid the accrued interest on its Series 2009-1 Note on the Restatement Effective Date. With respect to all Series 2009-1 Noteholders, their first Interest Accrual Period after the Restatement Effective Date shall be the period from the Restatement Effective Date to and including the November 2014 Payment Date.
“Majority of Holders” means, with respect to the Series 2009-1 Notes, one of the following:
(A)    if there are two or fewer Series 2009-1 Noteholders, Series 2009-1 Noteholders representing one hundred percent (100%) of the then Aggregate Series 2009-1 Principal Balance (or, if the then Aggregate Series 2009-1 Principal Balance equals zero, Series 2009-1 Noteholders representing one hundred percent (100%) of the sum of the then Series 2009-1 Note Existing Commitments); 
(B)    if there are at least three Series 2009-1 Noteholders but not more than five Series 2009-1 Noteholders, Series 2009-1 Noteholders representing in aggregate more than sixty-six and two-thirds percent (66 2/3%) of the then Aggregate Series 2009-1 Principal Balance (or, if the then Aggregate Series 2009-1 Principal Balance equals zero, Series 2009-1 Noteholders representing in aggregate more than sixty-six and two-thirds percent (66 2/3%) of the sum of the then Series 2009-1 Note Existing Commitments); or 
(C)    at all times not covered by clause (A) or clause (B), one or more Series 2009-1 Noteholders representing in aggregate more than fifty percent (50%) of the then Aggregate Series 2009-1 Principal Balance (or, if the then Aggregate Series 2009-1 Principal Balance equals zero, Series 2009-1 Noteholders representing fifty percent (50%) of the sum of the then Series 2009-1 Note Existing Commitments);
provided however, that the Series 2009-1 Note Existing Commitments (or, if applicable, Series 2009-1 Principal Balance) of any Person classified as a Defaulting Noteholder on the applicable date of determination shall be excluded for purposes of determining the Majority of Holders for Series 2009-1 Notes except to the extent expressly set forth in Section 210.
“Market Disruption Pricing Event” means, with respect to a Series 2009-1 Noteholder, the existence of all of the following events or conditions on the date on which the applicable interest rate for the immediately succeeding Interest Accrual Period is being determined: 
(i)    a determination is made by such Series 2009-1 Noteholder (or any of its assignees or participants) or the related Deal Agent that the Adjusted Eurodollar Rate (as determined in accordance with the terms of this Supplement) does not accurately reflect the actual cost of funds (the “Actual 

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Cost of Funds”) to such Series 2009-1 Noteholder (or assignee or participants) of making, funding or maintaining any Series 2009-1 Advance for such Interest Accrual Period;
(ii)    the Actual Cost of Funds for such Interest Accrual Period exceeds the Adjusted Eurodollar Rate by more than one percent (1.00%);
(iii)    a Market Disruption Pricing Event was not in effect for such Series 2009-1 Noteholder on more than six occasions during the immediately preceding fifteen (15) months;
(iv)    the Adjusted Eurodollar Rate is not determinable in accordance with the terms of this Supplement; and
(v)    such Series 2009-1 Noteholder does not typically use in its normal operation either the Prime Rate or the Federal Funds Rate as a means of measuring interest rates payable by borrowers or other obligors.
“Minimum Principal Payment Amount” means, for the Series 2009-1 Notes on any Payment Date, one of the following:
(1)    for any Payment Date prior to the Conversion Date, zero; or
(2)    for any Payment Date following Conversion Date, the excess, if any, of (x) the Aggregate Series 2009-1 Principal Balance, over (y) the Minimum Targeted Principal Balance for the Series 2009-1 Notes for such Payment Date.
“Minimum Targeted Principal Balance” means for the Series 2009-1 Notes for each Payment Date, an amount equal to the product of (x) the Aggregate Series 2009-1 Principal Balance on the Conversion Date and (y) the percentage set forth opposite such Payment Date (based on the number of Payment Dates elapsed from the Closing Date) on Schedule 1 hereto under the column titled “Percentage (Minimum Targeted Principal Balance)”.
“Other Taxes” shall have the meaning set forth in Section 206(b).
“Payment Date” shall have the meaning set forth in Section 201.
“Percentage” means, with respect to any Series 2009-1 Noteholder as of any date of determination, a fraction (expressed as a percentage), the numerator of which is such Series 2009-1 Noteholder’s Series 2009-1 Note Existing Commitment and the denominator of which is equal to the sum of the Series 2009-1 Note Existing Commitments of all Series 2009-1 Noteholders.
“Plan” means any employee pension benefit plan, as defined in Section 3(2) of ERISA, that is subject to Title IV of ERISA and that is established or maintained by the Issuer.
“Prime Rate” means the rate announced by Wells Fargo Bank, National Association, from time to time as its “prime rate” or “base rate” in the United States, such rate to change as and when such designated rate changes. The Prime Rate is not necessarily the lowest rate of interest charged by Citibank, N.A. in connection with extensions of credit to debtors.
“Restatement Effective Date” means October 10,  2014.

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“Scheduled Commitment Expiration Date” shall have the meaning set forth in the Series 2009-1 Note Purchase Agreement.
“Series 2009-1” means the Series of Notes the terms of which are specified in this Supplement.
“Series 2009-1 Advance” means an advance of funds made by one or more of the Series 2009-1 Noteholders pursuant to the provisions of Section 205(b) of this Supplement.
“Series 2009-1 Expected Final Maturity Date” means the Payment Date occurring on the fourth (4th) anniversary of the Conversion Date.
“Series 2009-1 Interest Payment” means, with respect to any Payment Date, an amount equal to the sum of, for each Series 2009-1 Advance outstanding for each day during the immediately preceding Interest Accrual Period, the product of (i) the principal amount of such Series 2009-1 Advance on such day, (ii) an amount equal to the sum of (x) the Applicable Funding Basis for such Series 2009-1 Advance and (y) the Applicable Margin, and (iii) 1/360, in the case of the Adjusted Eurodollar Rate, or 1/365 or 1/366, as applicable, in the case of the Base Rate.
“Series 2009-1 Legal Final Maturity Date” means the Payment Date occurring on the fourth (4th) anniversary of the Conversion Date.
“Series 2009-1 Note Existing Commitment” means, with respect to any Series 2009-1 Noteholder, the purchase limit or commitment set forth in the Series 2009-1 Note Purchase Agreement, as such commitment may be (i) increased in accordance with the terms of the Series 2009-1 Note Purchase Agreement or (ii) reduced from time to time at the request of the Issuer, in each case in accordance with the terms of the Series 2009-1 Note Purchase Agreement.
“Series 2009-1 Note Initial Commitment” means, with respect to any Series 2009-1 Noteholder, the amount set forth opposite the name of such Series 2009-1 Noteholder on Schedule 2 hereto (as such Schedule 2 shall be deemed to be amended by a properly executed Assignment and Acceptance (as such term is defined in the Series 2009-1 Note Purchase Agreement) or Increase Notice (as such term is defined in the Series 2009-1 Note Purchase Agreement)).
“Series 2009-1 Note Purchase Agreement” means the Second Amended and Restated Series 2009-1 Note Purchase Agreement, dated as of  October 10, 2014, among the Issuer, the Series 2009-1 Noteholders from time to time party thereto and various financial institutions from time to time party thereto, as such agreement may be amended or restated from time to time.
“Series 2009-1 Noteholder” shall mean the Person in whose name a Series 2009-1 Note is registered in the Note Register.
“Series 2009-1 Notes” shall mean any one of the notes, substantially in the form of Exhibit A to this Supplement, issued pursuant to the terms of this Supplement, and replacements therefor issued pursuant to the terms of the Indenture.
“Series 2009-1 Principal Balance” means, with respect to any Series 2009-1 Note as of any date of determination, an amount equal to the excess, if any, of (x) the sum of (A) the Series 2009-1 Principal Balance of such Series 2009-1 Note as of the close of business on the Restatement Effective Date and (B) without duplication of amounts referred to in clause (A), the sum of all Series 2009-1 Advances made with respect to such Series 2009-1 Note subsequent to the Restatement Effective Date, over (y) the cumulative 

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amount of all principal payments (including Prepayments) actually paid to the Holders such Series 2009-1 Notes subsequent to the Restatement Effective Date.
“Series 2009-1 Series Account” means a Series Account for Series 2009-1 established by the Issuer in the name of the Issuer with the Indenture Trustee into which funds are deposited from the Trust Account pursuant to Section 302 of the Indenture.
“Series 2009-1 Transaction Documents” means this Supplement, the Series 2009-1 Notes, the Series 2009-1 Note Purchase Agreement, all other Transaction Documents, any Hedge Agreements, and any and all other agreements, documents and instruments executed and delivered by or on behalf or in support of the Issuer with respect to the issuance and sale of the Series 2009-1 Notes, as any of the foregoing may from time to time be amended, modified, supplemented or renewed.
“Series 2009-1 Unused Commitment” means, with respect to any Series 2009-1 Noteholder as of any date of determination, the excess, if any, of (i) the Series 2009-1 Note Existing Commitment then in effect for such Series 2009-1 Noteholder over (ii) the Series 2009-1 Principal Balance of the Series 2009-1 Note owned by such Series 2009-1 Noteholder as of such date of determination, such principal balance to be measured after giving effect to all Series 2009-1 Advances made and all principal payments to be received by such Series 2009-1 Noteholder on such date of determination.
“WFBNA” means Wells Fargo Bank, National Association.
(b)    All other capitalized terms used herein and not otherwise defined shall have the meaning set forth in Appendix A to the Indenture, as such Appendix A may be amended, supplemented or otherwise modified from time to time in accordance with the provisions of the Indenture.  The rules of usage set forth in such Appendix A shall apply to this supplement.
Article II
Creation of the Series 2009-1 Notes; Modification of Indenture
Section 201.    Designation and Principal Terms.  (a) There has been created a Series of Notes to be issued in one Class pursuant to the Indenture and this Supplement to be known respectively as “TAL Advantage III LLC Series 2009-1 Floating Rate Secured Notes”.  On the Restatement Effective Date, the Series 2009-1 Notes will have a maximum principal balance of Six Hundred Fifty Million Dollars ($650,000,000) and shall be in accordance with Section 2.3(e) of the Series 2009-1 Note Purchase Agreement.  The Series 2009-1 Notes will not have priority over any Series, except to the extent set forth in the Indenture or in the Supplement for such other Series.  The Series 2009-1 Notes are designated as a Series of Warehouse Notes.
(b)    The Payment Date with respect to the Series 2009-1 Notes shall be the twentieth (20th) day of each month or if such day is not a Business Day, the immediately following Business Day (each a “Payment Date”).  The initial Payment Date following the Restatement Effective Date shall be November 20, 2014.
(c)    Payments of principal and interest on the Series 2009-1 Notes shall be payable from funds on deposit in the Series 2009-1 Series Account or otherwise at the times and in the amounts set forth in Article III of the Indenture and Article III hereof.
(d)    The Series 2009-1 Interest Payment and the Commitment Fee shall constitute “Priority Payments” for Series 2009-1 as such term is defined in the Indenture. 

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(e)    All of the Early Amortization Events set forth in Article XII of the Indenture are applicable to Series 2009-1.  All of the Events of Default set forth in Section 801 of the Indenture are applicable to Series 2009-1.
(f)    The “Initial Commitment” for Series 2009-1, as such term is referred to in the Indenture, shall mean the Series 2009-1 Note Initial Commitment.
(g)    The “Commitment” for Series 2009-1, as such term is referred to in the Indenture, shall mean the Series 2009-1 Note Existing Commitment.
(h)    In the event that any term or provision contained herein shall conflict with or be inconsistent with any term or provision contained in the Indenture, the terms and provisions of this Supplement shall govern.
(i)    The “Expected Final Maturity Date” for Series 2009-1, as such term is referred to in the Indenture, shall mean the Series 2009-1 Expected Final Maturity Date.
(j)    The “Legal Final Maturity Date” for Series 2009-1, as such term is referred to in the Indenture, shall mean the Series 2009-1 Legal Final Maturity Date.
(k)    For purposes of the Indenture, only the Series 2009-1 Interest Payment and the Commitment Fee shall be a Priority Payment.  For purposes of Section 801(1)(A) of the Indenture, the Series 2009-1 Interest Payment will be due and payable on each Payment Date. 
(l)    The Series 2009-1 Notes have not been rated by a Rating Agency as of the Closing Date or as of the Restatement Effective Date.  Accordingly, any provision of the Series 2009-1 Transaction Documents requiring notification of, or providing notices to, the Rating Agencies shall not be applicable to Series 2009-1 Notes until such time (if any) a Rating Agency has assigned a rating to the Series 2009-1 Notes.
Section 202.    Authentication and Delivery.
(a)    Execution and Delivery.  On the Closing Date and on the Restatement Effective Date, the Issuer shall sign, and shall direct the Indenture Trustee in writing pursuant to Section 201 of the Indenture to duly authenticate, and the Indenture Trustee, upon receiving such direction, (i) shall authenticate (by manual or facsimile signature), subject to compliance with the conditions precedent set forth in Section 501 hereof and the Series 2009-1 Note Purchase Agreement, the Series 2009-1 Notes in accordance with such written directions, and (ii) subject to compliance with the conditions precedent set forth in Section 501 hereof and the Series 2009-1 Note Purchase Agreement, shall deliver such Series 2009-1 Notes to the Noteholders in accordance with such written directions.
(b)    Definitive Notes.  In accordance with Section 202 of the Indenture, the Series 2009-1 Notes shall be represented by one or more Definitive Notes.
(c)    Original or Facsimile Signatures.  The Series 2009-1 Notes shall be executed by manual or facsimile signature on behalf of the Issuer by any authorized officer or manager of the Issuer and shall be substantially in the form of Exhibit A hereto.
(d)    Minimum Denominations.  The Series 2009-1 Notes shall be issued in minimum denominations of $100,000 and in integral multiples of $100,000 in excess thereof.
(e)    Restrictions on Transfer of Series 2009-1 Notes.  Notwithstanding the provisions of 

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Section 205 of the Indenture (except for Section 205(l) thereof), each Series 2009-1 Noteholder may sell, transfer or assign its Series 2009-1 Note(s) provided that (1) it is in accordance with the provisions of Section 8.15 of the Series 2009-1 Note Purchase Agreement and (2) otherwise if (i) such Series 2009-1 Noteholder obtains the Issuer’s prior written consent authorizing such Series 2009-1 Noteholder to contact a proposed purchaser, transferee or assignee (unless such proposed purchaser, transferee or assignee is an Eligible Assignee); which consent shall not be unreasonably withheld or delayed; (ii) unless such proposed purchaser, transferee or assignee is an Eligible Assignee, such Series 2009-1 Noteholder must obtain the Issuer’s prior written consent to consummate such sale, transfer or assignment; (iii) the Issuer receives (1) either (A) a fully executed Investment Letter from such Series 2009-1 Noteholder and the applicable purchaser, transferee or assignee, or (B) the Opinion of Counsel referred to in Section 205(i) of the Indenture, and (2) the documentation required pursuant to the terms of the Series 2009-1 Note Purchase Agreement; (iv) such sale, transfer or assignment will not result in any increased costs to the Issuer without its written consent; and (v) such sale, transfer or assignment is not to a Competitor.  The provisions of this Section 205(e) (except as relating to the application of Section 205(l) of the Indenture) may be modified in a written agreement between the Issuer and the Indenture Trustee.
Section 203.    Interest and Other Payments on the Series 2009-1 Notes.
(a)    Interest on Series 2009-1 Notes.  Interest will be owing on the Series 2009-1 Notes in an amount equal to the Series 2009-1 Interest Payment, which shall be payable on each Payment Date from amounts on deposit in the Series 2009-1 Series Account in accordance with Section 302 hereof including the priority of payments set forth therein.
(b)    Interest on Overdue Amounts.  If the Issuer shall default in the payment of (i) the unpaid principal balance of any Series 2009-1 Notes on the Series 2009-1 Legal Final Maturity Date, (ii) the Series 2009-1 Interest Payment on any Series 2009-1 Note when due, or (iii) following the acceleration of the Series 2009-1 Notes in accordance with the terms of the Indenture or any other amount owing under the Indenture not covered in clauses (i) and (ii) which is not paid when due, the Issuer shall, from time to time, pay interest on such unpaid amounts, to the extent permitted by Applicable Law, to, but not including, the date of actual payment (after as well as before judgment), at a rate per annum equal to the Default Rate, for the period during which such principal, interest or other amount shall be unpaid from the due date of such payment to but not including the date of actual payment thereof.  All Default Fees shall be payable at the times and subject to the priorities set forth in Section 302 hereof.
(c)    Maximum Interest Rate.  In no event shall the interest charged with respect to a Series 2009-1 Note exceed the maximum amount permitted by Applicable Law.  If at any time the interest rate charged with respect to the Series 2009-1 Notes exceeds the maximum rate permitted by Applicable Law, the rate of interest to accrue pursuant to this Supplement and such Series 2009-1 Note shall be limited to the maximum rate permitted by Applicable Law.
Section 204.    Principal Payments on the Series 2009-1 Notes; Scheduled Amortization of Series 2009-1 Notes.
(a)    The principal balance of the Series 2009-1 Notes shall be payable on each Payment Date from amounts on deposit in the Series 2009-1 Series Account in an amount equal to (i) so long as no Early Amortization Event is continuing, the Minimum Principal Payment Amount and the allocable portion of the Supplemental Principal Payment Amount (if any) for such Series 2009-1 Note for such Payment Date, to the extent that funds are available for such purpose in accordance with the provisions of subsection I of Section 302 hereof, or (ii) if an Early Amortization Event is then continuing, the Minimum Principal Payment Amount and then unpaid Series 2009-1 Principal Balance of such Series 2009-1 Note shall be payable in 

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full to the extent that funds are available for such purpose in accordance with the provisions of subsection II of Section 302 hereof.  Payment of the Supplemental Principal Payment Amount on each Payment Date is subordinated to payment in full on such Payment Date of the Minimum Principal Payment Amount for the Series 2009-1 Notes.  The unpaid principal amount of each Series 2009-1 Note, together with all unpaid interest (including all Default Fees), fees (including all Commitment Fees), expenses, costs and other amounts payable by the Issuer to the Series 2009-1 Noteholders and the Indenture Trustee pursuant to the terms of the Indenture and this Supplement, shall be due and payable in full on the earlier to occur of (x) the date on which an Event of Default shall occur and the Series 2009-1 Notes have been accelerated in accordance with Section 802 of the Indenture and (y) the Series 2009-1 Legal Final Maturity Date.
(b)    The Issuer may, on any Payment Date and upon four (4) Business Days’ prior notice to the Series 2009-1 Noteholders in accordance with the terms of Section 8.2 of the Series 2009-1 Note Purchase Agreement, voluntarily prepay all, or any part, of the Series 2009-1 Principal Balance by making a wire transfer to the Series 2009-1 Noteholders; provided, however, that the Issuer may not make such repayment from funds in the Trust Account, the Series 2009-1 Series Account or the Restricted Cash Account except to the extent that funds in any such account would otherwise be payable to the Issuer or available to prepay the Aggregate Series 2009-1 Principal Balance in accordance with the terms of this Supplement or the Indenture; provided, further, that any such prepayment shall be in a minimum amount of the lesser of (x) Two Hundred Fifty Thousand Dollars ($250,000) and (y) the then Aggregate Series 2009-1 Principal Balance.  In the event of any Prepayment of the Notes in accordance with this Section 204(b) or any other provision of the Indenture, the Issuer shall pay, if such Prepayment is made on a date other than a Payment Date, any Breakage Costs incurred by the Series 2009-1 Noteholders in connection with such prepayment.
(c)    Any Prepayment of less than the entire Aggregate Series 2009-1 Principal Balance made in accordance with the provisions of Section 204(a) or 204(b) hereof on or after the Conversion Date shall be applied as set forth in Section 702(c) of the Indenture to the same extent as if the Series 2009-1 Notes were a Series of Term Notes.
(d)    On the Restatement Effective Date, the Issuer may prepay in full the then unpaid principal balance of, and accrued interest on, any Series 2009-1 Note held by any Existing Series 2009-1 Noteholder that shall not continue to be a Series 2009-1 Noteholder subsequent to the Restatement Effective Date.
Section 205.    Amounts and Terms of Series 2009-1 Noteholder Commitments.
(a)    Commitments.  Subject to the terms and conditions of this Supplement and the Series 2009-1 Note Purchase Agreement, each Series 2009-1 Noteholder shall make its Percentage of the Series 2009-1 Note Initial Commitment available to the Issuer on the Restatement Effective Date.
(b)    Advances.  Prior to the Conversion Date, each Series 2009-1 Note shall be a revolving note with a maximum principal amount equal to the Series 2009-1 Note Existing Commitment then in effect for the related Series 2009-1 Noteholder.  The Administrative Agent and each Series 2009-1 Noteholder shall maintain a record of all Series 2009-1 Advances and repayments made on the Series 2009-1 Notes and absent manifest error such records shall be conclusive.  Each request for a Series 2009-1 Advance shall be submitted in writing to the Administrative Agent by not later than 1:00 p.m. (New York City time) on the third (3rd) Business Day prior to the date of the requested advance and shall be irrevocable when given.  Such notice shall include a calculation of the aggregate Series 2009-1 Advance to be funded by the Series 2009-1 Noteholders.  The Administrative Agent shall promptly forward any such Funding Notice, with the attached Asset Base Certificate, to each Series 2009-1 Noteholder or its designee.  On any Business Day requested by the Issuer, and presuming that the Issuer shall have satisfied all applicable conditions precedent set forth 

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in Article V hereof, the Series 2009-1 Noteholders shall, subject to the terms and conditions of this Supplement and the Series 2009-1 Note Purchase Agreement, deposit into the account designated by the Issuer by wire transfer of same day funds not later than 1:00 p.m. (New York City time) an amount equal to its Percentage of the requested Series 2009-1 Advance; provided, however, that each Series 2009-1 Advance by each Series 2009-1 Noteholder shall be for: (I) a minimum amount of the lesser of (x) its then unused Series 2009-1 Note Existing Commitment and (y) such Series 2009-1 Noteholder’s Percentage of one million Dollars ($1,000,000) or an integral multiple of One Hundred Thousand Dollars ($100,000) in excess thereof; and (II) a maximum amount of the Availability of such Series 2009-1 Noteholder on such Business Day.  In the event that any Series 2009-1 Noteholder is a Defaulting Noteholder, the other Noteholders may, but shall not be obligated to, make an incremental Series 2009-1 Advance in accordance with Section 2.6 of the Series 2009-1 Note Purchase Agreement.
Each request for a Series 2009-1 Advance shall constitute a reaffirmation by the Issuer that (1) no Event of Default or Early Amortization Event has occurred and is continuing, (2) all of the conditions precedent set forth in Article V hereof have been satisfied and (3) except for any divergences previously disclosed in writing to the Indenture Trustee and consented to in writing by the Administrative Agent, the representations and warranties made by the Issuer to the Holders of Series 2009-1 Notes contained in the Series 2009-1 Transaction Documents are true, correct and complete in all material respects to the same extent as though made on and as of the date of the request, except to the extent such representations and warranties specifically relate to an earlier date, in which event they shall be true, correct and complete in all material respects as of such earlier date.
If (i) any Series 2009-1 Advance requested by the Issuer is, for any reason whatsoever related to a default or nonperformance by the Issuer, not made or effectuated on the date specified therefor or (ii) any optional prepayment of the Series 2009-1 Notes is not made when specified in the notice delivered pursuant to Section 204(b) hereof, then, in either such case, the Issuer shall indemnify each Series 2009-1 Noteholder against any Breakage Costs relating thereto.
(c)    Commitment Fee.  On each Payment Date, the Issuer shall pay a commitment fee (the “Commitment Fee”) to each Series 2009-1 Noteholder in an amount equal to the sum for each day during the immediately preceding Collection Period of the product of (x) the applicable Commitment Fee Percentage on such day, (y) a fraction (expressed as percentage) the numerator of which is one and the denominator of which is equal to 360 and (z) the Series 2009-1 Unused Commitment of such Series 2009-1 Noteholder on such day.  Such Commitment Fee shall be payable from amounts then on deposit in the Series 2009-1 Series Account, or amounts otherwise available for such purpose, in accordance with Section 302 hereof.
(d)    Optional Increase in Series 2009-1 Note Existing Commitments.  The Issuer may increase the aggregate Series 2009-1 Note Existing Commitments from time to time upon the terms and conditions set forth in Section 2.3 of the Series 2009-1 Note Purchase Agreement.
Section 206.    Taxes.
(a)    Subject to clause (g) below, in addition to payments of principal and interest on the Series 2009-1 Notes when due, the Issuer shall pay, but only in accordance with the priorities for distributions set forth in Section 302 hereof, each Series 2009-1 Noteholder (an “Indemnified Party”) any and all present or future taxes, fees, duties, levies, imposts, or charges, or any other similar deduction or withholding, whatsoever imposed by any Governmental Authority on payments of principal and interest on the Series 2009-1 Notes and other amounts payable by the Issuer under the Transaction Documents, and all liabilities with respect thereto, excluding (i) franchise taxes, (ii) such taxes as are imposed on or measured by or determined (in whole or in part) by reference to each Indemnified Party’s net income by the jurisdiction 

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under the laws of which such Indemnified Party, as the case may be (regardless of whether such tax is denominated as an “income tax” under applicable local law), is organized or maintains an office or any political subdivision thereof, (iii) any other taxes, fees, duties, levies, imports, or charges, whether payable directly by the Series 2009-1 Noteholder or by deduction or withholding from any payment made in respect of a Series 2009-1 Note, on account of a connection, whether present or former, between the Series 2009-1 Noteholder and the relevant taxing jurisdiction including without limitation branch profits taxes and (iv) withholding taxes imposed on any payment in respect of a Series 2009-1 Note other than on account of a change in law or regulation occurring after the Person in respect of which such tax is imposed acquired a beneficial interest in a Series 2009-1 Note, and (v) withholding taxes imposed under FATCA (all such non-excluded taxes, levies, imposts, deductions, charges, withholdings and liabilities being hereinafter referred to as “Taxes”).
(b)    In addition, subject to clause (g) below, the Issuer shall pay, but only in accordance with the priorities for distribution set forth in Section 302 hereof, any present or future stamp or documentary taxes or any other similar excise or property taxes, charges or similar levies which arise from any payment made hereunder or from the execution, delivery or registration of, or otherwise with respect to, this Supplement or any other Series 2009-1 Transaction Document (hereinafter referred to as “Other Taxes”).
(c)    Subject to clause (g) below, if any Taxes or Other Taxes are directly asserted or imposed against any Indemnified Party, the Issuer shall indemnify and hold harmless such Indemnified Party, but only in accordance with the priorities for distribution set forth in Section 302 hereof, for the full amount of the Taxes or Other Taxes (including any Taxes or Other Taxes asserted or imposed by any jurisdiction on amounts payable under this Section 206) paid by the Indemnified Party and any liability (including penalties, interest, additions to tax and expenses) arising therefrom or with respect thereto, whether or not such Taxes or Other Taxes were correctly or legally asserted or imposed. If the Issuer fails to pay any Taxes or Other Taxes when due to the appropriate taxing authority or fails to remit to the Indemnified Party the required receipts or other required documentary evidence, the Issuer shall indemnify the Indemnified Party for any incremental Taxes or Other Taxes, interest or penalties that may become payable by the Indemnified Party as a result of any such failure. Payment under this indemnification shall be made in accordance with the payment priorities set forth in Section 302 hereof after the Indemnified Party makes written demand therefor.  Each Indemnified Party shall give prompt notice to the Issuer of any assertion of Taxes or Other Taxes so that the Issuer may, at its option, contest such assertion.
(d)    Within thirty (30) days after the date of any payment by the Issuer of Taxes or Other Taxes, the Issuer shall furnish to the affected Indemnified Party the original (or a certified copy) of a receipt evidencing payment thereof, or other evidence of payment thereof satisfactory to such Indemnified Party.
(e)    Taxes, Other Taxes and other indemnification payments owing pursuant to the provisions of this Section 206 shall not constitute a “claim” (as defined in Section 101(5) of the Bankruptcy Code) against the Issuer in the event there are insufficient funds available to make such payments in accordance with the payment priority set forth in Section 302 hereof.
(f)    If an Indemnified Party is not a “United States person” as defined in section 7701(a)(30) of the Code, such Indemnified Party shall deliver to the Issuer, with a copy to the Administrative Agent and the Manager, within 15 days after the Restatement Effective Date, or, if such Indemnified Party becomes an Indemnified Party after the Restatement Effective Date, the date on which such Indemnified Party becomes an Indemnified Party hereunder:  (i) two (or such other number as may from time to time be prescribed by Applicable Laws) duly completed copies of (A) IRS Form W-8BEN or IRS Form W-8BEN-E claiming eligibility of the Indemnified Party for benefits of an income tax treaty to which the United States is a party and establishing that such Indemnified Party is not subject to withholding under FATCA or (B) IRS Form 

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W-8ECI (or any successor forms or other certificates or statements that may be required from time to time by the relevant United States taxing authorities or Applicable Laws) or (ii) in the case of an Indemnified Party that is not legally entitled to deliver either form listed in clause (f)(i), (A) a certificate of a duly authorized officer of such Indemnified Party to the effect that such Indemnified Party is not (x) a “bank” within the meaning of Section 881(c)(3)(A) of the Code, (y) a “10 percent shareholder” of the Issuer or TAL within the meaning of Section 881(c)(3)(B) of the Code, or (z) a controlled foreign corporation receiving interest from a related person within the meaning of Section 881(c)(3)(C) of the Code (such certificate, an “Exemption Certificate”) and (B) two duly completed copies of IRS Form W-8BEN, IRS Form W-8BEN-E, or applicable successor form certifying the foreign status of such Indemnified Party and establishing that such Indemnified Party is not subject to withholding under FATCA, as appropriate, to permit the Issuer to make payments hereunder for the account of such Indemnified Party, without deduction or withholding of United States federal income or similar Taxes.  Each other Indemnified Party agrees to deliver to the Issuer, with a copy to the Administrative Agent and the Manager, within 15 days after the Restatement Effective Date, or, if such Indemnified Party becomes an Indemnified Party after the Restatement Effective Date, the date on which such Indemnified Party becomes an Indemnified Party hereunder, one or more accurate and complete original signed copies (as the Issuer, Administrative Agent or Manager may reasonably request) of IRS Form W-9 or successor applicable form (if required by law), as the case may be, providing the employer identification number for such Indemnified Party.  Additionally, upon the obsolescence of, or after the occurrence of any event requiring a change in, any form or certificate previously delivered by an Indemnified Party pursuant to this Section 206(f), and from time to time as may be reasonably requested by the Issuer, such Indemnified Party shall deliver such forms, amended or successor forms, certificates or statements as may be required under Applicable Laws to permit the Issuer to make payments hereunder for the account of such Indemnified Party, without deduction or withholding of United States federal income or similar Taxes.
(g)    The Issuer shall not be obligated to pay any additional amounts to any Indemnified Party pursuant to clause (a), or to indemnify any Indemnified Party pursuant to clause (c), in respect of United States federal withholding taxes (including backup withholding) to the extent imposed as a result of (i) the failure of such Indemnified Party to deliver to the Issuer any form and/or Exemption Certificate pursuant to clause (f), (ii) such form not establishing a complete exemption from U.S. federal withholding tax or the information or certifications made therein by the Indemnified Party being untrue or inaccurate on the date delivered in any material respect, or (iii) the Indemnified Party designating a successor office at which it maintains the Series 2009-1 Notes which has the effect of causing such Indemnified Party to become subject to or obligated for tax payments in excess of those in effect immediately prior to such designation; provided, however, that the Issuer shall be obligated to pay additional amounts to any such Indemnified Party pursuant to clause (a), and to indemnify any such Indemnified Party pursuant to clause (c), in respect of United States federal withholding taxes if (i) any such failure to deliver a form and/or Exemption Certificate or the failure of such form to establish a complete exemption from U.S. federal withholding tax or inaccuracy or untruth contained therein resulted from a change in any applicable law or regulation (other than any withholding taxes imposed under FATCA) occurring after the date the Person in respect of which such tax is imposed acquired a beneficial interest in a Series 2009-1 Note, which change rendered such Indemnified Party no longer legally entitled to deliver any such form or otherwise ineligible for a complete exemption from U.S. federal withholding tax, or rendered the information or certifications made in such form untrue or inaccurate in a material respect or (ii) the redesignation of the Indemnified Party’s office for maintenance of the Series 2009-1 Notes was made at the request of the Issuer.
(h)    Any Indemnified Party that becomes entitled to the payment of additional amounts pursuant to Section 206(a) shall use reasonable efforts (consistent with applicable law) to file any document reasonably requested by the Issuer or to transfer its interest in the Series 2009-1 Note to an Affiliate in another jurisdiction if the making of such a filing or transfer to an Affiliate, as the case may be, would avoid the need 

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for or reduce the amount of any payment of such additional amounts that may thereafter accrue and would not, in the good faith determination of such Indemnified Party, be disadvantageous to it.
(i)    If an Indemnified Party receives any refund or is entitled to a tax credit with respect to Taxes or Other Taxes for which the Issuer has paid any additional amounts pursuant to Section 206(a) or Section 206(b) or made an indemnity payment pursuant to Section 206(c), then such Indemnified Party shall promptly pay the Issuer the portion of such refund or credit and any interest received with respect thereto as it determines, in its reasonable, good faith judgment will leave it after such payment, in no better or worse financial position than it would have been absent the imposition of such Taxes or Other Taxes and the payment by the Issuer of such indemnity or additional amounts pursuant to this Section 206; provided, however, that (i) the Issuer agrees to promptly return any amount paid to the Issuer pursuant to this Section 206(i) upon notice from such Indemnified Party that such refund or any portion thereof is required to be repaid to the relevant taxing authority, (ii) nothing in this Section 206(i) shall require an Indemnified Party to disclose any confidential information to the Issuer (including, without limitation, its tax returns), and (iii) no Indemnified Party shall be required to pay any amounts pursuant to this Section 206(i) at any time which an Event of Default exists and is continuing.
(j)    If the Issuer determines in good faith that a reasonable basis exists for contesting any Taxes or Other Taxes for which additional amounts have been paid pursuant to Section 206(a) or Section 206(b) or an indemnity payment has been made pursuant to Section 206(c), the Indemnified Party (to the extent such Person reasonably determines in good faith that it will not suffer a material adverse effect as a result thereof) shall cooperate with the Issuer in challenging such Taxes or Other Taxes, at the Issuer’s expense, if so requested by the Issuer in writing.
Section 207.    Increased Costs.
If either (i) the introduction of or any change (including, without limitation, any change by way of imposition or increase of reserve requirements) after the Restatement Effective Date in or in the interpretation of any law, rule, regulation or guideline (including any law, rule, regulation or guideline of any accounting board or authority (whether or not a part of the government) which is responsible for the establishment or interpretation of national or international accounting principles, in each case foreign or domestic, and any foreign or domestic central bank or other Governmental Authority), or any request or directive of any Governmental Authority or (ii) the compliance by an Indemnified Party with any of preceding clause (i) or any law, rule, regulation, guideline or request promulgated or made after the Restatement Effective Date by any central bank or other Governmental Authority (whether or not having the force of law), shall (A) impose, modify or deem applicable any reserve requirement (including, without limitation, any reserve requirement imposed by the Federal Reserve Board, but excluding any reserve requirement, if any, included in the determination of the Adjusted Eurodollar Rate provided the Adjusted Eurodollar Rate is the applicable interest rate at the time the increased costs are incurred and interest amounts accruing with respect thereto are paid to the Indemnified Party), special deposit or similar requirement against assets of, deposits with or for the amount of, or credit extended by, any Indemnified Party, or (B) impose any other condition affecting the commitments or rights of an Indemnified Party under any Series 2009-1 Transaction Document, the result of which is to increase the cost to such Indemnified Party or to reduce the amount of any sum received or receivable by an Indemnified Party under any Series 2009-1 Transaction Document, then, within ten (10) days after demand by such Indemnified Party (which demand shall be accompanied by a statement setting forth the basis for such demand), the Issuer shall pay directly to such affected Indemnified Party such additional amount or amounts as will compensate such Indemnified Party for such additional or increased cost incurred or such reduction suffered but only in accordance with the payment priority set forth in Section 302 hereof. In determining any amount provided for in this Section 207, the Indemnified Party may use any reasonable averaging and attribution methods. Any Indemnified Party making a claim under this section shall 

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submit to the Issuer and the Manager a written description as to such additional or increased cost or reduction and the calculation thereof, which written description shall be conclusive absent demonstrable error. Prior to making any claim pursuant to the provisions of this Section 207, the affected Indemnified Party will use reasonable efforts to mitigate or eliminate the amount of such Increased Cost or reduced amount if such mitigation effects are not, in the judgment of the affected Indemnified Party, illegal or otherwise disadvantageous to such Indemnified Party.  Payments owing pursuant to the provisions of this Section 207 shall be made only in accordance with the priorities for distributions set forth in Section 302 hereof. Increased Costs and other amounts owed pursuant to this Section 207 shall not constitute a “claim” (as defined in Section 101(5) of the Bankruptcy Code) against the Issuer in the event that there are insufficient funds available to meet such payments in accordance with Section 302 hereof. The failure or delay on the part of any Indemnified Party to demand compensation for any Increased Costs shall not constitute a waiver of such Indemnified Party’s right to demand such compensation; provided, that the Issuer shall not be under any obligation to compensate any Indemnified Party under this Section 207 for any Increased Costs and other amounts owed pursuant to this Section 207 with respect to any period prior to the date that is 120 days prior to such request if such Indemnified Party knew of the circumstances giving rise to such Increased Costs and other amounts owed pursuant to this Section 207 and of the fact that such circumstances would result in a claim for increased compensation by reason of such Increased Costs and other amounts owed pursuant to this Section 207.
Section 208.    Capital Requirements.
If any Indemnified Party shall determine that (i) any introduction or change after the Restatement Effective Date in or in the interpretation of any law, rule, regulation or guideline (including any law, rule, regulation or guideline adopted by the Basel Committee on Banking Regulations and Supervisory Practices or other foreign or domestic bank regulatory or monetary authorities), or (ii) the adoption after the Restatement Effective Date of any other law or requirement of law, or any request, guidance or other directive regarding liquidity coverage or capital adequacy, including the proposed “The New Basel Capital Accord”, or (iii) any change after the Restatement Effective Date in any of the foregoing or in the enforcement or interpretation or administration of any of the foregoing by any Governmental Authority charged with the enforcement or interpretation or administration thereof, or (iv) compliance by any Indemnified Party (or any business office of the Indemnified Party) or the Indemnified Party’s holding company with any of the preceding clauses (i), (ii) or (iii) or any law, rule, regulation, guideline, request or directive of any Governmental Authority promulgated or made after the Restatement Effective Date regarding liquidity coverage or capital adequacy, has or would have the effect of reducing the rate of return on the Indemnified Party’s capital or on the capital of the Indemnified Party’s holding company, to a level below that which the Indemnified Party or the Indemnified Party’s holding company could have achieved, in each case but for any of the occurrences set forth in any of the preceding clauses (taking into consideration the Indemnified Party’s policies and the policies of the Indemnified Party’s holding company with respect to liquidity coverage or capital adequacy) by an amount reasonably deemed by the Indemnified Party to be material, then, within (10) ten days after written demand for the payment thereof, then the Issuer will pay to the affected Indemnified Party such additional amount or amounts as will compensate the Indemnified Party or the Indemnified Party’s holding company for any such reduction suffered.  Payment under this indemnification shall be made only in accordance with the priorities for distributions set forth in Section 302 hereof after the Indemnified Party makes written demand therefor. Indemnification amounts contemplated by this Section shall not constitute a “claim” (as defined in Section 101(5) of the Bankruptcy Code) against the Issuer in the event there are insufficient funds available to make such payments on a Payment Date under Section 302 hereof. Without affecting its rights under this Section 208 or any other provision of this Supplement, each Indemnified Party agrees that if there is a reduction in a rate of return with respect to which the Issuer would be obligated to compensate the Indemnified Party pursuant to this Section 208, the Indemnified Party shall use reasonable 

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efforts to select an alternative business office which would not result in any reduction in rate of return contemplated by this Section; provided, however, that the Indemnified Party shall not be obligated to select an alternative business office if the Indemnified Party determines that (i) as a result of such selection the Indemnified Party would be in violation of any Applicable Law, or would incur additional costs or expenses, or (ii) such selection would be unavailable for regulatory reasons or (iii) such selection would otherwise be illegal or disadvantageous to such Indemnified Party. The failure or delay on the part of any Indemnified Party to demand compensation for any reduction in amounts received or receivable or reduction in return on capital shall not constitute a waiver of such Indemnified Party’s right to demand such compensation; provided, that the Issuer shall not be under any obligation to compensate any Indemnified Party under this Section 208 for any reductions with respect to any period prior to the date that is 120 days prior to such request if such Indemnified Party knew of the circumstances giving rise to such reductions and of the fact that such circumstances would result in a claim for increased compensation by reason of such reductions.
Section 209.    Replacement of Series 2009-1 Noteholder.
In the event (i) any Series 2009-1 Noteholder (or any Indemnified Party with respect to any Series 2009-1 Noteholder) delivers a certificate requesting compensation pursuant to Section 206, Section 207 or Section 208 hereof or a notice as to the occurrence or cessation of a Market Disruption Pricing Event, (ii) the Issuer is required to pay any additional amount to any Series 2009-1 Noteholder (or any Indemnified Party with respect to any Series 2009-1 Noteholder) or any Governmental Authority on account of any Series 2009-1 Noteholder (or any Indemnified Party with respect to any Series 2009-1 Noteholder) pursuant to Section 206 or (iii) any Series 2009-1 Noteholder does not consent (or fails to respond) to a proposed amendment, modification or waiver to any provision of this Supplement or any other Transaction Document requested by the Issuer (and the Issuer has satisfied all other conditions precedent to such amendment or waiver but for receiving the consent of such Series 2009-1 Noteholder), the Issuer may, at its sole expense and effort, upon notice to such Series 2009-1 Noteholder, require such Series 2009-1 Noteholder to transfer and assign, without recourse (in accordance with and subject to the restrictions contained in the Indenture), all of its interests, rights and obligations under this Supplement and the other Transaction Documents to an assignee that shall assume such assigned obligations (which assignee may be another Series 2009-1 Noteholder, if a Series 2009-1 Noteholder accepts such assignment); provided that:
(i)    such Series 2009-1 Noteholder shall have received payment of an amount equal to the outstanding principal of its Series 2009-1 Note, accrued interest thereon, accrued fees and all other amounts payable to it hereunder and under the other Transaction Documents from the Issuer or the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Issuer (in the case of all other amounts);
(ii)    in the case of any such assignment resulting from a claim for compensation under Section 207 or 208 or payments required to be made pursuant to Section 206, such assignment will result in a reduction in such compensation or payments thereafter; and
(iii)    such assignment does not conflict with Applicable Law.
Section 210.    Defaulting Noteholders.
(a)    Adjustments.  Notwithstanding anything to the contrary contained in any Series 2009-1 Transaction Document, if any Series 2009-1 Noteholder becomes a Defaulting Noteholder, then, until such time as that Series 2009-1 Noteholder is no longer a Defaulting Noteholder, to the extent permitted by applicable law:

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(i)    Waivers and Amendments.  Notwithstanding anything to the contrary in any Series 2009-1 Transaction Document, a Series 2009-1 Noteholder that is then classified as Defaulting Noteholder shall not have any right to approve or disapprove any amendment, waiver or consent under any Series 2009-1 Transaction Document (and any amendment, waiver or consent which by its terms requires the consent of all Series 2009-1 Noteholders or each affected Series 2009-1 Noteholder may be effected with the consent of the applicable Series 2009-1 Noteholders other than Defaulting Noteholders), except that (A) the Series 2009-1 Note Existing Commitment of any Defaulting Noteholder may not be increased or extended without the consent of such  Defaulting Noteholder and (B) any waiver, amendment or modification requiring the consent of all Series 2009-1 Noteholders or each affected Series 2009-1 Noteholder that by its terms affects any Defaulting Noteholder more adversely than other affected Series 2009-1 Noteholders shall require the consent of such Defaulting Noteholder.
(ii)    Limited Right of Set-off.  Until the Conversion Date, any amounts on deposit in the Series 2009-1 Series Account which would otherwise be payable as principal, interest, fees or other amounts (whether payable pursuant to Section 302 or otherwise) to a Series 2009-1 Noteholder that is then classified as a Defaulting Noteholder, shall, in accordance with the written direction of the Issuer, be applied to fund to the Issuer any previously requested Series 2009-1 Advance in respect of which such Defaulting Noteholder has failed to fund its portion thereof as required by the terms of the Series 2009-1 Transaction Documents.  Any payments, prepayments or other amounts paid or payable to a Defaulting Noteholder that are so applied shall be deemed paid to and redirected by such Defaulting Noteholder, and each Series 2009-1 Noteholder is hereby deemed to have irrevocably consented to this treatment.
(iii)    Commitment Fees.  A Defaulting Noteholder shall not be entitled to receive any Commitment Fee accrued during any period in which such Series 2009-1 Noteholder is a Defaulting Noteholder (and the Issuer shall not be required to pay any such fee that otherwise would have been required to have been paid to such Defaulting Noteholder).
(b)    Replacement of Defaulting Noteholder.  The Issuer may, at its sole expense and effort, upon not less than three Business Days prior written notice to a Defaulting Noteholder, require such Defaulting Noteholder to transfer and assign, without recourse (in accordance with and subject to the restrictions contained in the Indenture), all of its interests, rights and obligations under its Series 2009-1 Note to an assignee that shall assume such assigned obligations (which assignee may or may not be another Series 2009-1 Noteholder, if a Series 2009-1 Noteholder accepts such assignment, but is not required to be another Series 2009-1 Noteholder); provided that (A) such Defaulting Noteholder shall have received payment of an amount equal to the outstanding principal of its Series 2009-1 Note, accrued interest thereon, accrued fees and all other amounts payable to it hereunder and under the other Series 2009-1 Transaction Documents, from the Issuer or the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Issuer (in the case of all other amounts), except to the extent that any Commitment Fees are not due and payable to such Defaulting Noteholder pursuant to Section 210(a)(iii); and (B) such assignment does not conflict with Applicable Law.
(c)    Defaulting Noteholder Cure.  If through the application of the provisions of Section 210(a)(ii) hereof or otherwise by the Defaulting Noteholder, such Defaulting Noteholder shall have remedied (to the reasonable satisfaction of the Administrative Agent and the Issuer) the applicable events described in clauses (a) through (d) of the definition of Defaulting Noteholder, such Person shall cease to be classified as a Defaulting Noteholder.

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Article III
Series 2009-1 Series Account and Allocation and Application of Amounts Therein
Section 301.    Series 2009-1 Series Account.  The Issuer shall establish on the Closing Date and maintain, so long as any Series 2009-1 Note is Outstanding, an Eligible Account in the name of the Issuer with the Indenture Trustee which shall be designated as the Series 2009-1 Series Account, which account shall be pledged to the Indenture Trustee pursuant to the Indenture for the benefit of the Series 2009-1 Noteholders and any Hedge Counterparty.  The Series 2009-1 Series Account shall only be relocated to another financial institution in accordance with the express provisions of Section 303(d) of the Indenture.  All deposits of funds by, or for the benefit of, the Series 2009-1 Noteholders from the Trust Account and the Restricted Cash Account, shall be accumulated in, and withdrawn from, the Series 2009-1 Series Account in accordance with the provisions of the Indenture and this Supplement.
Section 302.    Distributions from Series 2009-1 Series Account.  On each Payment Date, the Indenture Trustee shall distribute funds then on deposit in the Series 2009-1 Series Account in accordance with the provisions of one of subsection (I), (II) and (III) of this Section 302 pursuant to the instructions set forth in each Manager Report.
(I)    If no Early Amortization Event nor an Event of Default shall have occurred and be continuing:
(a)    To each Series 2009-1 Noteholder on the immediately preceding Record Date, an amount equal to its pro rata portion of the Series 2009-1 Interest Payment for such Payment Date;
(b)    To each Series 2009-1 Noteholder on the immediately preceding Record Date, an amount equal to its pro rata portion of the Commitment Fee for such Payment Date;
(c)    To each Series 2009-1 Noteholder on the immediately preceding Record Date, an amount equal to its pro rata portion (if any) of the Minimum Principal Payment Amount then due and payable to Series 2009-1 Noteholders on such Payment Date;
(d)    To each Series 2009-1 Noteholder on the immediately preceding Record Date, an amount equal to its pro rata portion (if any) of the Supplemental Principal Payment Amount then due and payable to Series 2009-1 Noteholders on such Payment Date, until the Aggregate Series 2009-1 Principal Balance has been reduced to zero;
(e)    To each Series 2009-1 Noteholder on the immediately preceding Record Date and each other Indemnified Party, pro rata, an amount equal to any Indemnity Amounts, Default Fees and any other amounts then due and payable to such Series 2009-1 Noteholders and each other Indemnified Party pursuant to the Series 2009-1 Transaction Documents; and
(f)    After application of the amounts required to be paid pursuant to Section 302 of the Indenture, to the Issuer or its assigns, any remaining amounts then on deposit in the Series 2009-1 Series Account.
(II)    If an Early Amortization Event shall have occurred and then be continuing with respect to any Series but no Event of Default shall have occurred and be continuing with respect to any Series (or 

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an Event of Default has occurred but the Notes have not been accelerated in accordance with Section 802 of the Indenture):
(a)    To each Series 2009-1 Noteholder on the immediately preceding Record Date, an amount equal to its pro rata portion of the Series 2009-1 Interest Payment for such Payment Date;
(b)    To each Series 2009-1 Noteholder on the immediately preceding Record Date, an amount equal to its pro rata portion of the Commitment Fee for such Payment Date;
(c)    To each Series 2009-1 Noteholder on the immediately preceding Record Date, an amount equal to its pro rata portion (if any) of the Minimum Principal Payment Amount then due and payable to Series 2009-1 Noteholders on such Payment Date;
(d)    To each Series 2009-1 Noteholder on the immediately preceding Record Date, an amount equal to its pro rata portion of the then Aggregate Series 2009-1 Principal Balance until the Aggregate Series 2009-1 Principal Balance has been reduced to zero;
(e)    To each Series 2009-1 Noteholder on the immediately preceding Record Date, pro rata (based on respective amounts due), an amount equal to any Indemnity Amounts and Default Fees and any other amounts then due and payable by the Issuer to the Series 2009-1 Noteholders pursuant to the Series 2009-1 Transaction Documents; and
(f)    After application of the amounts required to be paid pursuant to Section 302 of the Indenture, to the Issuer or its assigns, any remaining amounts then on deposit in the Series 2009-1 Series Account.
(III)    If an Event of Default shall then be continuing with respect to any Series and the Notes of any Series have been declared due and payable and such declaration and its consequences have not been rescinded or annulled:
(a)    To each Series 2009-1 Noteholder on the immediately preceding Record Date, an amount equal to its pro rata portion of the Series 2009-1 Interest Payment for such Payment Date;
(b)    To each Series 2009-1 Noteholder on the immediately preceding Record Date on a pro rata basis, an amount equal to the then Aggregate Series 2009-1 Principal Balance until the Series 2009-1 Notes are paid in full; 
(c)    To each Series 2009-1 Noteholder on the immediately preceding Record Date, pro rata (based on respective amounts due), an amount equal to any Indemnity Amounts and Default Fees and any other amounts then due and payable by the Issuer to the Series 2009-1 Noteholders pursuant to the Series 2009-1 Transaction Documents; and
(d)    After application of the amounts required to be paid pursuant to Section 302 of the Indenture, to the Issuer or its assigns, any remaining amounts then on deposit in the Series 2009-1 Series Account.
Any amounts payable to a Series 2009-1 Noteholder pursuant to this Section 302 shall be made by wire transfer of immediately available funds to the account that such Series 2009-1 Noteholder has 

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designated to the Indenture Trustee in writing at least five Business Days prior to the applicable Payment Date.
Article IV
Additional Covenants; Additional Events of Default
In addition to the covenants set forth in Article VI of the Indenture, the Issuer hereby makes the following additional covenants for the benefit of the Series 2009-1 Noteholders:
Section 401.    Increase in the Aggregate Series 2009-1 Note Existing Commitment.  The Issuer shall not issue on or after the Closing Date any additional Series 2009-1 Notes pursuant to this Supplement or increase the aggregate Series 2009-1 Note Existing Commitment (except for any such increase in the Series 2009-1 Note Existing Commitment made in accordance with Section 205(d) hereof or Section 2.3 of the Series 2009-1 Note Purchase Agreement) without the prior written consent of the Control Party for the Series 2009-1.  Nothing contained in this Section 401 shall prohibit the assignment by any Series 2009-1 Noteholder of all or a portion of its Series 2009-1 Note Existing Commitment if, after giving effect to such assignment, the aggregate Series 2009-1 Note Existing Commitment shall not have increased.
Section 402.    Issuance of Additional Series of Notes.  So long as the Supplement and related Series 2009-1 Transaction Documents remain in full force and effect, the Issuer shall not issue any additional Series of Notes without the prior written consent of the Control Party for Series 2009-1.  This Section 402 shall constitute one of the “other conditions as shall be specified in the related Supplement” which are referred to in paragraph (vii) of Section 1006(b) of the Indenture.
Section 403.    Use of Proceeds.  The proceeds from the issuance of the Series 2009-1 Notes shall be used as follows: (i) to acquire Containers and Related Assets, (ii) to pay the costs of issuance of the Series 2009-1 Notes, and (iii) for general corporate purposes (including distributions to the members of the Issuer and any other activities and transactions permitted under the Issuer’s limited liability company agreement).  For avoidance of doubt, the Issuer may use the proceeds of any Series 2009-1 Advance to make payments on, or in respect of, any other Series of Notes.  The Issuer shall not, directly or indirectly, use the proceeds of any Series 2009-1 Advance, or lend, contribute or otherwise make available such proceeds to any Person for use, in any manner that would result in a violation of Sanctions by any Person.
Section 404.    Consent of the Majority of Holders.  So long as no Rating Agency maintains an effective rating with respect to the Series 2009-1 Notes, the Issuer shall not take, and will cause others acting on behalf of the Issuer to not take, any action that requires satisfaction of the Rating Agency Condition or the consent of the Rating Agencies (or any analogous concept) as a condition precedent unless such action shall have also been approved by the Majority of Holders of the Series 2009-1 Notes.
Section 405.    United States Federal Income Tax Election.  The Issuer shall not elect to be classified as an association taxable as a corporation under Section 301.7701-3 of the Treasury Regulations.
Article V
Conditions of Restatement of Supplement and Future Lending
Section 501.    Conditions to Restatement of Supplement.  The amendment and restatement of the Original Supplement shall become effective on the date on which (i) all conditions precedent set forth in Section 3.1 of the Series 2009-1 Note Purchase Agreement shall have been satisfied or waived in accordance therewith, and (ii) the Issuer shall have delivered a certificate to the Indenture Trustee to the effect that all 

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conditions precedent set forth in Section 3.1 of the Series 2009-1 Note Purchase Agreement have been satisfied (other than clause (y) of paragraph (13) of Schedule 1 to the Series 2009-1 Note Purchase Agreement).  Notwithstanding the foregoing conditions precedent, upon the making of any advance by a Noteholder, all of the Indenture Trustee’s and Noteholders’ rights under the Indenture and this Supplement shall vest in such Persons, whether or not the conditions precedent were in fact satisfied.
Section 502.    Advances on Series 2009-1 Notes.  The obligation of each of the Series 2009-1 Noteholders to make a Series 2009-1 Advance pursuant to its commitment under the Series 2009-1 Transaction Documents is subject to the following further conditions precedent being fulfilled with respect to each such Series 2009-1 Advance: 
(a)    Default.  Before and after giving effect to such Series 2009-1 Advance, no Event of Default shall have occurred and be continuing unless such Series 2009-1 Advance has been approved by each Series 2009-1 Noteholder.
(b)    Early Amortization Event.  Before and after giving effect to such Series 2009-1 Advance, no Early Amortization Event shall have occurred and be continuing unless such Series 2009-1 Advance has been approved by each Series 2009-1 Noteholder.
(c)    Asset Base Imbalance.  Before and after giving effect to such Series 2009-1 Advance, the Aggregate  Series 2009-1 Principal Balance (calculated after giving effect to such Series 2009-1 Advance) does not exceed the Asset Base (calculated to give effect to the Eligible Containers to be acquired with the proceeds of such Series 2009-1 Advance).
(d)    Asset Base Certificate and Funding Notice.  The Issuer shall have delivered to the Administrative Agent (with a copy to the Indenture Trustee) (i) a duly completed and executed Funding Notice and (ii) simultaneously with the delivery of such Funding Notice, a duly completed and executed Asset Base Certificate (which shall give effect to any Eligible Containers to be acquired with the proceeds of such Series 2009-1 Advance).
(e)    Conversion Date.  The Conversion Date shall not have occurred.
(f)    Note Purchase Agreement.  All conditions precedent to such Series 2009-1 Advance set forth in the Series 2009-1 Note Purchase Agreement have been met.
(g)    Discharge of Existing Indebtedness.  If the Issuer requests that the proceeds of such Series 2009-1 Advance be used in whole or in part to discharge in full any undischarged Liens on the Containers to be acquired on such date, the Funding Notice (as defined in the Series 2009-1 Note Purchase Agreement) shall include the name of the related lienholders and their related wiring instructions.
(h)    Matters regarding the Collateral.  The Administrative Agent and the Series 2009-1 Noteholders shall have received from the Issuer satisfactory evidence of (i) the existence or validity of the Collateral, (ii) the perfection of the Indenture Trustee’s security interest in the Collateral, and (iii) compliance by the Issuer, the Seller and the Manager with all of their respective covenants, and the accuracy of all of their respective warranties or representations, in each case to the extent such covenants, warranties or representations relate to the Collateral.

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Article VI
Representations and Warranties
The Issuer hereby represents and warrants (as of the Closing Date, the Restatement Effective Date and each date on which a Series 2009-1 Advance is made) to the Series 2009-1 Noteholders and the Indenture Trustee that:
Section 601.    Existence.  The Issuer is a limited liability company duly organized, validly existing and in compliance under the laws of Delaware.  The Issuer is in good standing and is duly qualified to do business in each jurisdiction where the failure to do so would reasonably be expected to have a material adverse effect upon the Issuer, and has all licenses, permits, charters and registrations the failure to hold which would reasonably be expected to have a material adverse effect on the Issuer.
Section 602.    Authorization.  The Issuer has the power and is duly authorized to execute and deliver this Supplement, the Indenture and the other Series 2009-1 Transaction Documents to which it is a party; the Issuer is and will continue to be duly authorized to borrow monies under this Supplement, the Indenture and the other Series 2009-1 Transaction Documents; and the Issuer is and will continue to be authorized to perform its obligations under this Supplement, the Indenture and the other Series 2009-1 Transaction Documents.  The execution, delivery and performance by the Issuer of this Supplement, the Indenture and the other Series 2009-1 Transaction Documents to which it is a party and the borrowings hereunder do not and will not require any consent or approval of any Governmental Authority, stockholder or any other Person which has not already been obtained.
Section 603.    No Conflict; Legal Compliance.  The execution, delivery and performance of this Supplement, the Indenture and each of the other Series 2009-1 Transaction Documents and the execution, delivery and payment of the Series 2009-1 Notes will not: (a) contravene any provision of Issuer’s charter documents or by-laws or other organizational documents; (b) contravene, conflict with or violate any applicable law or regulation, or any order, writ, judgment, injunction, decree, determination or award of any Governmental Authority; or (c) violate or result in the breach of, or constitute a default under this Supplement, the Indenture, the other Series 2009-1 Transaction Documents, any other indenture or other loan or credit agreement, or other agreement or instrument to which the Issuer is a party or by which Issuer, or its property and assets may be bound or affected.  The Issuer is not in violation or breach of or default under any law, rule, regulation, order, writ, judgment, injunction, decree, determination or award or any contract, agreement, lease, license, indenture or other instrument to which it is a party, in each case, in a manner that would reasonably be expected to result in a Material Adverse Change.
Section 604.    Validity and Binding Effect.  This Supplement is, and each other Series 2009-1 Transaction Document to which the Issuer is a party, when duly executed and delivered, will be, legal, valid and binding obligations of the Issuer, enforceable against the Issuer in accordance with their respective terms, except as enforceability may be limited by bankruptcy, insolvency or other similar laws of general application affecting the enforcement of creditors’ rights or by general principles of equity limiting the availability of equitable remedies.
Section 605.    Material Adverse Change.  Since its date of formation, there has been no Material Adverse Change in the financial condition of the Issuer.
Section 606.    Place of Business.  The legal name of the Issuer as reflected on its certificate of formation is “TAL Advantage III LLC”.  The current location of the Issuer’s chief executive office and principal “place of business” (within the meaning of Section 9-307 of the UCC) is 100 Manhattanville Road, 

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Purchase, New York 10577-2135.  The Issuer is organized under the laws of the State of Delaware and has not been previously and is not now organized under the laws of any other jurisdiction.
Section 607.    No Agreement or Contracts
The Issuer is not now and has not been a party to any contract or agreement (whether written or oral) other than the Series 2009-1 Transaction Documents and the Transaction Documents (as defined in the Indenture).
Section 608.    Consents and Approvals.  No approval, authorization or consent of any trustee or holder of any Indebtedness or obligation of the Issuer or of any other Person under any agreement, contract, lease or license or similar document or instrument to which the Issuer is a party or by which Issuer is bound, is required to be obtained by the Issuer in order to make or consummate the transactions contemplated under the Series 2009-1 Transaction Documents, except for those approvals, authorizations and consents that have been obtained on or prior to the Closing Date or which the failure to obtain would not reasonably be expected to result in a Material Adverse Change.  All consents and approvals of, filings and registrations with, and other actions in respect of, all Governmental Authorities required to be obtained by Issuer in order to make or consummate the transactions contemplated under the Series 2009-1 Transaction Documents have been, or prior to the time when required will have been, obtained, given, filed or taken and are or will be in full force and effect other than any such consents, approvals, filings or registrations the failure to so obtain or make would not reasonably be expected to result in a Material Adverse Change.
Section 609.    Margin Regulations.  The Issuer does not own any “margin security”, as that term is defined in Regulation U of the Federal Reserve Board, and the proceeds of the Series 2009-1 Notes issued hereunder will be used only for the purposes contemplated hereunder.  None of such proceeds will be used, directly or indirectly, for the purpose of purchasing or carrying any margin security, for the purpose of reducing or retiring any indebtedness which was originally incurred to purchase or carry any margin security or for any other purpose which might cause any of the Series 2009-1 Advances under this Supplement to be considered a “purpose credit” within the meaning of Regulations T, U and X.  The Issuer will not take or permit any agent acting on its behalf to take any action which might cause the Indenture or this Supplement or any document or instrument delivered by the Issuer pursuant hereto to violate any regulation of the Federal Reserve Board.
Section 610.    Taxes.  All federal, state, local and foreign tax returns, reports and statements required to be filed by the Issuer have been filed with the appropriate Governmental Authorities, and all Taxes, Other Taxes and other impositions shown thereon to be due and payable by the Issuer have been paid prior to the date on which any fine, penalty, interest or late charge may be added thereto for nonpayment thereof, or any such fine, penalty, interest, late charge or loss has been paid, or the Issuer is contesting its liability therefor in good faith and has fully reserved all such amounts according to GAAP in the financial statements provided pursuant to Section 626 of the Indenture.  The Issuer has paid when due and payable all charges upon the books of the Issuer and no Government Authority has asserted any Lien against the Issuer with respect to unpaid Taxes or Other Taxes.  Proper and accurate amounts have been withheld by the Issuer from its employees for all periods in full and complete compliance with the tax, social security and unemployment withholding provisions of applicable federal, state, local and foreign law and such withholdings have been timely paid to the respective Governmental Authorities.
Section 611.    Other Regulations.  The Issuer is not an “investment company,” or an “affiliated person” of, or a “promoter” or “principal underwriter” for, an “investment company,” as such terms are defined in the Investment Company Act of 1940, as amended.  The issuance of the Series 2009-1 Notes hereunder and the application of the proceeds and repayment thereof by the Issuer and the performance of 

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the transactions contemplated by this Supplement and the other Series 2009-1 Transaction Documents will not violate any provision of the Investment Company Act or the Public Utility Holding Company Act, or any rule, regulation or order issued by the Securities and Exchange Commission thereunder.  The Issuer is structured so as not to constitute a “covered fund” for purposes of the Volcker Rule under the Dodd-Frank Act.
Section 612.    Solvency and Separateness.
(a)    The capital of the Issuer is adequate for the business and undertakings of the Issuer.
(b)    Other than with respect to the transactions contemplated by the Transaction Documents, the Issuer is not engaged in any business transactions with the Manager except as permitted by the Management Agreement or with the Seller except as permitted by the Contribution and Sale Agreement.
(c)    At all times, at least one (1) member of the board of directors of the Issuer shall qualify as an Independent Manager (as defined in the Issuer’s limited liability company agreement).
(d)    The Issuer’s funds and assets are not, and will not be, commingled with those of the Manager, except as permitted by the Management Agreement.
(e)    The Issuer shall maintain (A) correct and complete books and records of account, and (B) minutes of the meetings and other proceedings of its board of managers.
(f)    The Issuer is not insolvent under the Insolvency Law and will not be rendered insolvent by the transactions contemplated by the Series 2009-1 Transaction Documents and after giving effect to such transactions, the Issuer will not be left with an unreasonably small amount of capital with which to engage in its business nor will the Issuer have intended to incur, or believe that it has incurred, debts beyond its ability to pay such debts as they mature.  The Issuer does not contemplate the commencement of insolvency, bankruptcy, liquidation or consolidation proceedings or the appointment of a receiver, liquidator, trustee or similar official in respect of the Issuer or any of its assets.
Section 613.    No Default.  No Event of Default or Early Amortization Event has occurred and is continuing hereunder or under the Original Indenture or the Original Supplement.  No event or condition that with notice or the passage of time (or both) could reasonably be expected to constitute an Event of Default or Early Amortization Event has occurred or is continuing.
Section 614.    Litigation and Contingent Liabilities.  No claims, litigation, arbitration proceedings or governmental proceedings by any Governmental Authority are pending or threatened against or are affecting Issuer the results of which will materially and adversely interfere with the consummation of any of the transactions contemplated by the Indenture, this Supplement or any document issued or delivered in connection therewith or herewith.
Section 615.    Title; Liens.  The Issuer has good, legal and marketable title to each of its respective assets, and none of such assets is subject to any Lien, except for Permitted Encumbrances and the Liens created or permitted pursuant to the Indenture.
Section 616.    Subsidiaries.  The Issuer has no subsidiaries.
Section 617.    No Partnership.  The Issuer is not a partner or joint venturer in any partnership or joint venture.

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Section 618.    Pension and Welfare Plans.  During the twelve-consecutive-month period prior to the date of the execution and delivery of this Supplement, no steps have been taken to terminate any Plan, and no contribution failure has occurred with respect to any Plan, sufficient to give rise to a lien under section 302(f) of ERISA.  No condition exists or event or transaction, has occurred with respect to any Plan which could result in the Issuer or any ERISA Affiliate of the Issuer incurring any material liability, fine or penalty.  As of the Closing Date, the Issuer is not a Benefit Plan Investor. 
Section 619.    Ownership of the Issuer.  All of the issued and outstanding membership interests of the Issuer are owned by TAL.
Section 620.    Security Interest Representations.
(a)    The Indenture creates a valid and continuing security interest (as defined in the UCC) in the Collateral in favor of the Indenture Trustee, for the benefit of the Noteholders and each Hedge Counterparty, which security interest is prior to all other Liens, and is enforceable as such as against creditors of and purchasers from the Issuer.
(b)    The Containers constitute “goods” within the meaning of the applicable UCC.  The Leases constitute “tangible chattel paper” within the meaning of the UCC.  The lease receivables constitute “accounts” or “proceeds” of the Leases with the meaning of the UCC.  The Trust Account, the Restricted Cash Account (if such account has been opened) and the Series 2009-1 Series Account constitute “securities accounts” within the meaning of the UCC.  The Issuer’s contractual rights under any Hedge Agreements, the Contribution and Sale Agreement and the Management Agreement constitute “general intangibles” within the meaning of the UCC.
(c)    The Issuer owns and has good and marketable title to the Collateral, free and clear of any Lien (whether senior, junior or pari passu), claim or encumbrance of any Person, except for Permitted Encumbrances.
(d)    The Issuer has caused the filing of all appropriate financing statements or documents of similar import in the proper filing office in the appropriate jurisdictions under Applicable Law in order to perfect the security interest in the Collateral granted to the Indenture Trustee in the Indenture.
(e)    Other than the security interest granted to the Indenture Trustee pursuant to the Indenture, the Issuer has not pledged, assigned, sold, granted a security interest in, or otherwise conveyed any of the Collateral, except as permitted pursuant to the Indenture.  The Issuer has not authorized the filing of, and is not aware of, any financing statements against the Issuer that include a description of collateral covering the Collateral other than any financing statement or document of similar import (i) relating to the security interest granted to the Indenture Trustee in the Indenture or (ii) that has been terminated.  The Issuer has no actual knowledge of any judgment or tax lien filings against the Issuer.
(f)    Pursuant to Section 3.3.5 of the Management Agreement, the Manager has acknowledged that it is holding the Leases, to the extent they relate to the Managed Containers on behalf of, and for the benefit of, the Indenture Trustee.  None of the Leases that constitute or evidence the Collateral has any marks or notations indicating that they have been pledged, assigned or otherwise conveyed to any Person.  The Seller has caused the filing of all appropriate financing statements or documents of similar import in the proper filing office in the appropriate jurisdictions under Applicable Law in order to perfect the ownership interest of the Issuer (and the Indenture Trustee as its assignee) in the Leases (to the extent that such Leases relate to the Managed Containers) arising under the Contribution and Sale Agreement.

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(g)    The Issuer has received all necessary consents and approvals required by the terms of the Collateral to the pledge to the Indenture Trustee of its interest and rights in such Collateral hereunder or under the Indenture.
(h)    Wells Fargo Bank, National Association (in its capacity as securities intermediary) has identified in its records the Indenture Trustee as the Person having a Security Entitlement in each of the Trust Account and the Series 2009-1 Series Account (and will do so with respect to the Restricted Cash Account, if and when such account is opened).
(i)    The Trust Account and the Series 2009-1 Series Account are not in the name of any Person other than the Issuer.  The Issuer has not consented for Wells Fargo Bank, National Association (as the securities intermediary of the Trust Account and the Series 2009-1 Series Account) to comply with Entitlement Orders of any Person other than the Indenture Trustee.
(j)    No creditor of the Issuer (other than (x) with respect to the Managed Containers, the related lessee and (y) the Manager in its capacity as Manager under the Management Agreement) has in its possession any goods that constitute or evidence the Collateral, other than for purposes of repair, refurbishment, painting, positioning, storage and other similar matters with respect to Managed Containers.
The representations and warranties set forth in this Section 620 shall survive until this Supplement is terminated in accordance with its terms and the terms of the Indenture.  Any breaches of the representations and warranties set forth in this Section 620 may be waived by the Indenture Trustee, only with the prior written consent of the Control Party.
Section 621.    Tax Election of the Issuer.  None of the Issuer, any of its members or any other Person has elected, or agreed to elect, to treat the Issuer as an association taxable as a corporation for United States federal income tax purposes.
Section 622.    FATCA.  This Supplement is a material modification of the Series 2009-1 Notes for FATCA purposes.
Section 623.    Survival of Representations and Warranties.  So long as any of the Series 2009-1 Notes shall be Outstanding and until payment and performance in full of the Outstanding Obligations, the representations and warranties contained herein shall have a continuing effect as having been true when made.
Article VII
Miscellaneous Provisions
Section 701.    Ratification of Indenture.  As supplemented by this Supplement, the Indenture is in all respects ratified and confirmed and the Indenture as so supplemented by this Supplement shall be read, taken and construed as one and the same instrument.
Section 702.    Counterparts.  This Supplement may be executed in two or more counterparts, and by different parties on separate counterparts, each of which shall be an original, but all of which shall constitute one and the same instrument.  Delivery of an executed counterpart of this Supplement by facsimile or by electronic means shall be equally effective as of the delivery of an originally executed counterpart.
Section 703.    Governing Law.  THIS SUPPLEMENT SHALL BE CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, INCLUDING 

- 27 -

SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW BUT OTHERWISE WITHOUT GIVING EFFECT TO THE PRINCIPLES OF CONFLICTS OF LAW, AND THE RIGHTS, OBLIGATIONS AND REMEDIES OF THE PARTIES HERETO SHALL BE DETERMINED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.
Section 704.    Amendments and Modifications.  (a) The terms of this Supplement may be waived, modified or amended only in a written instrument signed by (A) each of the Issuer, the Control Party and the Indenture Trustee and (B) (i) except with respect to the matters set forth in Section 1002(a) of the Indenture, the prior written consent of the Majority of Holders and (ii) if required pursuant to Section 1001 or 1002(a) of the Indenture, each affected Series 2009-1 Noteholder.  For the purposes of clause (B) of the preceding sentence, any amendment to or modification or waiver of this Supplement shall be deemed a Supplemental Indenture subject to Sections 1001 or 1002 of the Indenture.  The Series 2009-1 Note Existing Commitment of an individual Series 2009-1 Noteholder may only be increased, and the Conversion Date of an individual Series 2009-1 Noteholder may only be extended, in accordance with the provisions of Section 8.1(a) of the Note Purchase Agreement.
(b) Promptly after the execution by the Issuer and the Indenture Trustee of any written instrument pursuant to this Section, the Indenture Trustee shall mail to each Rating Agency, if any, then having a rating in effect with respect to the Series 2009-1 Notes, the Noteholders, the Administrative Agent and each Hedge Counterparty a copy of the text of such Supplement. Any failure of the Indenture Trustee to mail such copy, or any defect therein, shall not, however, in any way impair or affect the validity of any such Supplement.
Section 705.    Consent to Jurisdiction.  ANY LEGAL SUIT, ACTION OR PROCEEDING AGAINST ANY PARTY HERETO ARISING OUT OF OR RELATING TO THIS SUPPLEMENT, OR ANY TRANSACTION CONTEMPLATED HEREBY, MAY BE INSTITUTED IN ANY FEDERAL OR STATE COURT IN THE COUNTY OF NEW YORK, STATE OF NEW YORK AND EACH PARTY HERETO HEREBY WAIVES ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING, AND, SOLELY FOR THE PURPOSES OF ENFORCING THIS SUPPLEMENT, EACH PARTY HERETO HEREBY IRREVOCABLY SUBMITS TO THE JURISDICTION OF ANY SUCH COURT IN ANY SUCH SUIT, ACTION OR PROCEEDING.
Section 706.    Waiver of Jury Trial.  EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, AS AGAINST THE OTHER PARTIES HERETO, ANY RIGHTS IT MAY HAVE TO A JURY TRIAL IN RESPECT OF ANY CIVIL ACTION OR PROCEEDING (WHETHER ARISING IN CONTRACT OR TORT OR OTHERWISE), INCLUDING ANY COUNTERCLAIM, ARISING UNDER OR RELATING TO THIS SUPPLEMENT OR ANY OTHER TRANSACTION DOCUMENT, INCLUDING IN RESPECT OF THE NEGOTIATION, ADMINISTRATION OR ENFORCEMENT HEREOF OR THEREOF.
Section 707.    Ratification of Original Supplement.  (a) The amendment and restatement of the Original Supplement shall become effective on the Restatement Effective Date.  This Supplement amends and restates the terms and conditions of the Original Supplement, and is not a novation of the Outstanding Obligations incurred by the Issuer pursuant to the terms of the Original Supplement.  Accordingly, all of the Outstanding Obligations of the Issuer incurred pursuant to the terms of the Original Supplement, and all of the Liens created thereby, are hereby ratified and affirmed by the Issuer and remain in full force and effect.  In furtherance of the foregoing, all Series 2009-1 Notes issued and unpaid  pursuant to the terms of the Original Supplement that remain unpaid on the Restatement Effective Date shall remain in full force and effect and all references to the Original Supplement contained in the Series 2009-1 Notes are amended to refer to this Supplement.  All references to the Original Supplement in any Series 2009-1 Transaction 

- 28 -

Document or other document or instrument delivered in connection therewith shall be deemed to refer to this Supplement and the provisions hereof.
[Signature page follows.]

- 29 -

IN WITNESS WHEREOF, the Issuer and the Indenture Trustee have caused this Supplement to be duly executed and delivered as of the day and year first above written.
	
	
	TAL ADVANTAGE III LLC,

	 

	By:TAL International Container Corporation, 

	its manager

	 

	 

	By: ___________________________________

	 

	 

	Name: ________________________________

	 

	 

	Title: __________________________________

 

	
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION,

	not individually but solely as Indenture Trustee

	 

	 

	By: _______________________________________________

	 

	 

	Name: _____________________________________________

	 

	 

	Title: ______________________________________________

 

EXHIBIT A
FORM OF SERIES 2009-1 NOTE
THIS NOTE HAS NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR UNDER THE SECURITIES LAWS OF ANY OTHER JURISDICTION.  THIS NOTE MAY NOT BE OFFERED FOR SALE, TRANSFER OR ASSIGNMENT UNLESS (1) SO REGISTERED OR THE TRANSACTION RELATING THERETO SHALL BE EXEMPT WITHIN THE MEANING OF SUCH ACT AND THE RULES AND REGULATIONS OF THE SECURITIES AND EXCHANGE COMMISSION ADOPTED THEREUNDER AND (2) SUCH TRANSACTION COMPLIES WITH THE PROVISIONS SET FORTH IN SECTION 205 OF THE INDENTURE.  BECAUSE OF THE PROVISIONS FOR THE PAYMENT OF PRINCIPAL CONTAINED HEREIN, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS NOTE MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF.  ANYONE PURCHASING THIS NOTE MAY ASCERTAIN THE OUTSTANDING PRINCIPAL AMOUNT HEREOF BY INQUIRY TO THE INDENTURE TRUSTEE.
EACH PURCHASER OF A SERIES 2009-1 NOTE SHALL BE DEEMED TO REPRESENT AND WARRANT TO THE ISSUER, THE INDENTURE TRUSTEE AND THE MANAGER THAT IT IS NOT ACQUIRING SUCH NOTE WITH THE ASSETS OF AN “EMPLOYEE BENEFIT PLAN” AS DEFINED IN SECTION 3(3) OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), WHETHER OR NOT IT IS SUBJECT TO TITLE I OF ERISA, A “PLAN” WITHIN THE MEANING OF SECTION 4975(e)(1) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”) OR AN ENTITY WHOSE UNDERLYING ASSETS INCLUDE “PLAN ASSETS” OF ANY OF THE FOREGOING BY REASON OF AN EMPLOYEE BENEFIT PLAN’S OR PLAN’S INVESTMENT IN SUCH ENTITY. 
TAL ADVANTAGE III LLC
FLOATING RATE SECURED NOTES
SERIES 2009-1
Up to $____________                                                                                                                               No. [__]
                                                                                                                                                                  ____________, ___

KNOW ALL PERSONS BY THESE PRESENTS that TAL ADVANTAGE III LLC, a limited liability company organized and existing under the laws of Delaware (the “Issuer”), for value received, hereby promises to pay to ________________________ or their registered assigns, at the principal corporate trust office of the Indenture Trustee named below, (i) the principal sum of up to ________________________, which sum shall be payable on the dates and in the amounts set forth in the Amended and Restated Indenture, dated as of August 12, 2011 (as amended, restated or otherwise modified from time to time, the “Indenture”) and the Second Amended and Restated Series 2009-1 Supplement, dated as of  October 10, 2014 (as amended, restated or otherwise modified from time to time, the “Series 2009-1 Supplement”), each between the Issuer and Wells Fargo Bank, National Association as indenture trustee (the “Indenture Trustee”), (ii) interest on the outstanding principal amount of this Series 2009-1 Note on the dates and in the amounts set forth in the Indenture and the Series 2009-1 Supplement, and (iii) certain other amounts as provided in the Indenture and the Series 2009-1 Supplement.  A record of each Series 2009-1 Advance, Prepayment and repayment shall be made by the Administrative Agent and absent manifest error such record shall be conclusive.  

(1)

Capitalized terms not otherwise defined herein will have the meaning set forth in Appendix A to the Indenture and the Series 2009-1 Supplement.
Payment of the principal of and interest on this Note shall be made in lawful money of the United States of America which at the time of payment is legal tender for payment of public and private debts.  The principal balance of, and interest on this Series 2009-1 Note is payable at the times and in the amounts set forth in the Indenture and the Series 2009-1 Supplement by wire transfer of immediately available funds to the account designated by the Holder of record on the immediately preceding Record Date.  This Series 2009-1 Note is a Warehouse Note.
This Series 2009-1 Note is one of the authorized notes identified in the title hereto and issued in the aggregate principal amount provided in the Series 2009-1 Supplement.
This Series 2009-1 Note shall be an obligation of the Issuer and shall be secured by the Collateral, all as defined in, and subject to limitations set forth in, the Indenture and the Series 2009-1 Supplement.
This Series 2009-1 Note is transferable as provided in the Indenture and the Series 2009-1 Supplement, subject to certain limitations therein contained, only upon the books for registration and transfer kept by the Indenture Trustee, and only upon surrender of this Series 2009-1 Note for transfer to the Indenture Trustee duly endorsed by, or accompanied by a written instrument of transfer in form reasonably satisfactory to the Indenture Trustee duly executed by, the registered Holder hereof or his attorney duly authorized in writing.  The Indenture Trustee or the Issuer may require payment by the Holder of a sum sufficient to cover any tax expense or other governmental charge payable in connection with any transfer or exchange of the Series 2009-1 Note.
The Issuer, the Indenture Trustee and any other agent of the Issuer shall treat the person in whose name this Series 2009-1 Note is registered as the absolute owner hereof for all purposes, and neither the Issuer, the Indenture Trustee, nor any other such agent shall be affected by notice to the contrary.
This Series 2009-1 Note is subject to Prepayment, at the times and subject to the conditions set forth in the Indenture and the Series 2009-1 Supplement.
If an Event of Default shall occur and be continuing, the principal of and accrued interest on this Series 2009-1 Note may be declared to be due and payable in the manner and with the effect provided in the Indenture and the Series 2009-1 Supplement.
The Indenture permits, with certain exceptions as therein provided, the issuance of supplemental indentures in certain specifically described instances.  Any supplemental indenture made in accordance with the terms of this Supplement and the Indenture shall be conclusive and binding upon the Holder of this Series 2009-1 Note and on all future holders of this Series 2009-1 Note and of any Series 2009-1 Note issued in lieu hereof.  Supplements and amendments to the Indenture and the Series 2009-1 Supplement may be made only to the extent and in circumstances permitted by the Indenture and the Series 2009-1 Supplement.
The Holder of this Series 2009-1 Note shall have no right to enforce the provisions of the Indenture and the Series 2009-1 Supplement or to institute action to enforce the covenants, or to take any action with respect to a default under the Indenture and the Series 2009-1 Supplement, or to institute, appear in or defend any suit or other proceedings with respect thereto, except as provided under certain circumstances described in the Indenture and the Series 2009-1 Supplement; provided, however, that nothing contained in 

(2)

the Indenture and the Series 2009-1 Supplement shall affect or impair any right of enforcement conferred on the Holder hereof to enforce any payment of the principal of and interest on this Series 2009-1 Note on or after the due date thereof; provided further, however, that by acceptance hereof the Holder is deemed to have covenanted and agreed that it will not institute against the Issuer any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings, or other proceedings under any applicable bankruptcy or similar law, at any time other than at such time as permitted by the Indenture and the Series 2009-1 Supplement.
Each Holder of a Series 2009-1 Note shall be deemed to represent and warrant to the Initial Purchaser, the Issuer, the Indenture Trustee and the Manager that it is not acquiring such Series 2009-1 Note with the assets of an “employee benefit plan” as defined in Section 3(3) of ERISA, whether or not it is subject to Title I of ERISA, a “plan” within the meaning of Section 4975(e)(1) of the Code or an entity whose underlying assets include “plan assets” of any of the foregoing by reason of an employee benefit plan’s or plan’s investment in such entity.
Each Holder of a Series 2009-1 Note (i) agrees to treat this Series 2009-1 Note for United States federal, state and local income, single business and franchise tax purposes as indebtedness, (ii) agrees that the duties of the Administrative Agent are not to be construed as a replacement Manager, (iii) agrees that the Series 2009-1 Note shall not have any interest in any Series Account of any other Series or Class and (iv) ratifies and confirms the terms of the Indenture and the other Series 2009-1 Transaction Documents.
All terms and provisions of the Indenture and the Series 2009-1 Supplement are herein incorporated by reference as if set forth herein in their entirety.  In the event of any conflict between this Series 2009-1 Note, on the one hand, and the Indenture or the Series 2009-1 Supplement, on the other hand, the Indenture or the Series 2009-1 Supplement, as applicable, shall control.
IT IS HEREBY CERTIFIED, RECITED AND DECLARED, that all acts, conditions and things required to exist, happen and be performed precedent to the execution and delivery of the Indenture and the Series 2009-1 Supplement and the issuance of this Series 2009-1 Note and the issue of which it is a part, do exist, have happened and have been timely performed in regular form and manner as required by law.
Unless the certificate of authentication hereon has been executed by the Indenture Trustee by manual signature of one of its authorized officers, this Series 2009-1 Note shall not be entitled to any benefit under the Indenture and the Series 2009-1 Supplement, or be valid or obligatory for any purpose.
[Remainder of Page Intentionally Left Blank]

(3)

IN WITNESS WHEREOF, TAL Advantage III LLC has caused this Series 2009-1 Note to be duly executed by its duly authorized representative, on this _____ day of ____________, ____.
	
	
	TAL ADVANTAGE III LLC,

	 

	By: TAL International Container Corporation, 

	its manager

	 

	 

	By: _______________________________________________________

	 

	Its: _______________________________________________________

	 

This Note is one of the Series 2009-1 Notes described in the within-mentioned Indenture and the Series 2009-1 Supplement.
	
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION, 

	as indenture trustee

	 

	 

	By:_______________________________________________________

	 

	Its: _______________________________________________________

(4)

SCHEDULE 1
Percentage of Minimum Targeted Principal Balance
Series 2009-1 Notes
	
				
	Period Following
Conversion
	Target Percentage
	Period Following
Conversion
	Target Percentage

	0
	100.00%
	25
	79.17%

	1
	99.17%
	26
	78.33%

	2
	98.33%
	27
	77.50%

	3
	97.50%
	28
	76.67%

	4
	96.67%
	29
	75.83%

	5
	95.83%
	30
	75.00%

	6
	95.00%
	31
	74.17%

	7
	94.17%
	32
	73.33%

	8
	93.33%
	33
	72.50%

	9
	92.50%
	34
	71.67%

	10
	91.67%
	35
	70.83%

	11
	90.83%
	36
	70.00%

	12
	90.00%
	37
	69.17%

	13
	89.17%
	38
	68.33%

	14
	88.33%
	39
	67.50%

	15
	87.50%
	40
	66.67%

	16
	86.67%
	41
	65.83%

	17
	85.83%
	42
	65.00%

	18
	85.00%
	43
	64.17%

	19
	84.17%
	44
	63.33%

	20
	83.33%
	45
	62.50%

	21
	82.50%
	46
	61.67%

	22
	81.67%
	47
	60.83%

	23
	80.83%
	48
	60.00%

	24
	80.00%
	49
	0.00%

SCHEDULE 2

	
			
	Series 2009-1
Noteholder
	Commitment on
Restatement Effective Date
	Percentage of
Commitment 

	 
	 
	 

	Wells Fargo Bank, National Association
	$146,500,000.00
	22.538461538%

	SunTrust Bank
	$128,750,000.00
	19.807692308%

	ABN AMRO Capital USA LLC
	$62,250,000.00
	9.576923077%

	Royal Bank of Canada
	$122,080,000.00
	18.781538462%

	Bank of America, N.A.
	$99,170,000.00
	15.256923077%

	Nomura Corporate Funding Americas, LLC
	$41,250,000.00
	6.346153846%

	BNP Paribas
	$50,000,000.00
	7.692307692%Exhibit 4.73 TALA III Amendment to 2009-1 Note Purchase Agreement

    

	
	
	 

SECOND AMENDED AND RESTATED SERIES 2009-1 NOTE PURCHASE AGREEMENT
DATED AS OF OCTOBER 10, 2014
BETWEEN 
TAL ADVANTAGE III LLC,
AS ISSUER,
THE NOTEHOLDERS FROM TIME TO TIME PARTY HERETO
AND
THE OTHER FINANCIAL INSTITUTIONS FROM TIME TO TIME PARTY HERETO

	
	
	 

TAL ADVANTAGE III LLC SERIES 2009-1, FLOATING RATE SECURED NOTES

TABLE OF CONTENTS
	
					
	 
	 
	 
	Page No.
	

	ARTICLE I DEFINITIONS
	1
	

	 
	Section 1.1
	Certain Defined Terms
	1
	

	 
	Section 1.2
	Other Terms
	2
	

	 
	Section 1.3
	Computation of Time Periods
	3
	

	 
	Section 1.4
	Statutory References
	3
	

	 
	 
	 
	 

	ARTICLE II PURCHASE OF THE NOTES
	3
	

	 
	Section 2.1
	Sale and Delivery of the Notes
	3
	

	 
	Section 2.2
	Acceptance and Custody of Notes
	4
	

	 
	Section 2.3
	Increase/Reduction of the Series 2009-1 Note Existing Commitment
	4
	

	 
	Section 2.4
	Payments, Computations, Etc
	6
	

	 
	Section 2.5
	Appointment of Managing Agent
	6
	

	 
	Section 2.6
	Funding by Non-Defaulting Noteholders
	6
	

	 
	 
	 
	 

	ARTICLE III CONDITIONS OF PURCHASE
	7
	

	 
	Section 3.1
	Conditions Precedent to Purchase
	7
	

	 
	Section 3.2
	Conditions Precedent to Each Series 2009-1 Advance
	7
	

	 
	 
	 
	 

	ARTICLE IV CONDITIONS OF PURCHASE
	7
	

	 
	Section 4.1
	Representations and Warranties of the Issuer
	7
	

	 
	Section 4.2
	Representations, Warranties and Agreements of the Purchasers
	8
	

	 
	 
	 
	 

	ARTICLE V GENERAL CONVENANTS
	8
	

	 
	Section 5.1
	General Covenants of the Issuer
	8
	

	 
	 
	 
	 

	ARTICLE VI INDEMNIFICATION
	9
	

	 
	Section 6.1
	Indemnities by the Issuer
	9
	

	 
	 
	 
	 

	ARTICLE VII THE DEAL AGENT
	10
	

	 
	Section 7.1
	Authorization and Securities Action
	10
	

	 
	Section 7.2
	Delegation of Duties
	10
	

	 
	Section 7.3
	Exculpatory Provisions
	10
	

	 
	Section 7.4
	Reliance
	11
	

	 
	Section 7.5
	Non-Reliance on Deal Agents and Other Purchasers
	11
	

	 
	Section 7.6
	Deal Agent in its Individual Capacity
	11
	

	 
	Section 7.7
	Successor Deal Agent
	12
	

	 
	 
	 
	 

	ARTICLE VII MISCELLANEOUS
	12
	

	 
	Section 8.1
	Amendments and Waivers
	12
	

	 
	Section 8.2
	Notices, Etc
	12
	

	 
	Section 8.3
	No Waiver; Remedies
	13
	

	 
	Section 8.4
	Binding Effect
	13
	

	 
	Section 8.5
	Term of this Agreement
	13
	

- i -

	
					
	 
	Section 8.6
	GOVERNING LAW
	13
	

	 
	Section 8.7
	WAIVER OF JURY TRIAL; CONSENT TO JURISDICTION
	13
	

	 
	Section 8.8
	Inspection Rights, Costs, Expenses and Taxes
	14
	

	 
	Section 8.9
	No Proceedings
	15
	

	 
	Section 8.10
	Recourse Against Certain Parties
	15
	

	 
	Section 8.11
	Ratable Payments
	16
	

	 
	Section 8.12
	Confidentiality
	16
	

	 
	Section 8.13
	Execution in Counterparts; Severability; Integration
	17
	

	 
	Section 8.14
	Ratification of Original Note Purchase Agreement
	17
	

	 
	Section 8.15
	Certain Pledges
	17
	

	 
	Section 8.16
	Approval of Amended and Restated Series 2009-1 Supplement and Other Amendments
	17
	

	 
	Section 8.17
	No Bankruptcy Petition Against CP Purchaser
	18
	

	
				
	 
	SCHEDULE 1
	CONDITIONS PRECEDENT TO PURCHASE
	 

	 
	SCHEDULE 2
	PURCHASE LIMITS
	 

	 
	EXHIBIT A
	FORM OF COMPLIANCE CERTIFICATE AND FUNDING NOTICE
	 

	 
	EXHIBIT B
	FORM OF ADDITION NOTICE
	 

	 
	EXHIBIT C
	FORM OF ASSIGNMENT AND ACCEPTANCE
	 

	 
	EXHIBIT D
	FORM OF INCREASE NOTICE
	 

- ii -

This SECOND AMENDED AND RESTATED SERIES 2009-1 NOTE PURCHASE AGREEMENT (as amended, modified and supplemented from time to time in accordance with its terms, this “Agreement”), dated as of October 10, 2014, is entered into by and among:
		
	(1)
	TAL ADVANTAGE III LLC, a limited liability company organized under the laws of the State of Delaware (together with its successors and assigns, the “Issuer”);

		
	(2)
	The Purchasers from time to time party hereto; and

		
	(3)
	The financial institutions signatory hereto as “Deal Agents” made party to this Agreement from time to time pursuant to an Addition Notice and listed under the heading “The Deal Agents” together with their respective successors and assigns (the “Deal Agents”).

WHEREAS, the Issuer and certain of the Series 2009-1 Noteholders previously entered into that certain Amended and Restated Series 2009-1 Note Purchase Agreement, dated as of August  12, 2011 (as amended, the “Original Note Purchase Agreement”); and
WHEREAS, the parties hereto wish to modify the terms of, and, for ease of reference, restate the terms of the Original Note Purchase Agreement as modified; and
NOW THEREFORE, in consideration of the premises and mutual covenants herein contained, the parties hereto agree as follows:
ARTICLE I
DEFINITIONS
Section 1.1    Certain Defined Terms.
(1)    Certain capitalized terms used throughout this Agreement are defined above or in this Section 1.1.  In addition, capitalized terms used but not defined herein have the meanings given to such terms in the Appendix A to the Amended and Restated Indenture, dated as of August 12, 2011 (as amended, restated or supplemented from time to time, the “Indenture”), by and between the Issuer and Wells Fargo Bank, National Association, as indenture trustee (the “Indenture Trustee”) or, if such terms are not defined therein, such terms shall have the meanings given to such terms in the Second Amended and Restated Series 2009-1 Supplement, dated as of October 10, 2014 (as amended, restated or supplemented from time to time, the “Supplement”), by and between the Issuer and the Indenture Trustee.
(2)    As used in this Agreement and its exhibits, the following terms shall have the following meanings (such meanings to be equally applicable to both the singular and plural forms of the terms defined):
“Assignment and Acceptance”:  Any properly completed agreement substantially in the form of Exhibit C hereto. 
“Availability”:  This term shall have the meaning set forth in the Supplement.
“Collection Date”:  The date on which the last to occur of the following events occurs:  (i) the Aggregate Series 2009-1 Principal Balance has been reduced to zero and the commitments to fund of the Purchasers have been terminated, (ii) the Purchasers have received all amounts of interest due in respect of the Notes and other amounts due to the Purchasers in connection with this Agreement, the Indenture and the Supplement and (iii) the Deal Agents have received all amounts due to them in connection with this Agreement.

- 1 -

“Conversion Date”:  This term shall have the meaning set forth in the Supplement.
“CP Purchaser”:  Any Purchaser that funds a Series 2009-1 Advance through the issuance of commercial paper.
“Deal Agent”:  This term shall have the meaning set forth in the preamble hereto.
“Fee Letter”:  Each Upfront Fee Letter, dated the Restatement Effective Date, between the Issuer and the applicable Deal Agent (on behalf of the respective Series 2009-1 Noteholder).
“Funding Date”:  As defined  in Section 2.1(b).
“Funding Notice”:  As defined in Section 2.1(b).
“Increase Notice”:  Any properly completed notice substantially in the form of Exhibit D hereto.
“Indemnified Amounts”:  This term shall have the meaning set forth in Section 6.1 hereof.
“Indemnified Party”:  This term shall have the meaning set forth in Section 6.1 hereof.
“Note”:  Any Series 2009-1 Note.
“Percentage”:  With respect to any Purchaser as of any date of determination, the percentage equivalent of a fraction, the numerator of which is equal to the Purchaser’s Purchase Limit and the denominator of which is equal to the sum of the Purchase Limits for all Purchasers.
“Purchase”:  The purchase by a Purchaser of the Notes from the Issuer and the payment of any additional Series 2009-1 Advance by a Purchaser.
“Purchase Limit”:  The maximum amount of unpaid Series 2009-1 Advances that a Purchaser shall be required to have outstanding at any time, as set forth on Schedule 2 hereto (as such Schedule 2 shall be deemed to be amended by a properly executed Assignment and Acceptance or Increase Notice).
“Purchaser”:  Any other Person that may agree from time to time pursuant to the terms of this Agreement or the pertinent Assignment and Acceptance or Addition Notice, to fund a Series 2009-1 Advance hereunder and their successors and assigns.
“Restatement Effective Date”:  October 10, 2014.
“Scheduled Commitment Expiration Date”:  October 10, 2017, as such date may be extended from time to time in accordance with Section 2.1(c) hereof.
Section 1.2    Other Terms.
All accounting terms not defined herein shall have the respective meanings given to them under GAAP consistently applied.  To the extent that the definitions of accounting terms in this Agreement are inconsistent with the meanings of such terms under GAAP or regulatory principles, the definitions contained in this Agreement or in any certificate or other document shall control.

- 2 -

Section 1.3    Computation of Time Periods.
Unless otherwise stated in this Agreement, in the computation of a period of time from a specified date to a later specified date, the word “from” means “from and including” and the words “to” and “until” each means “to but excluding.”
Section 1.4    Statutory References.
References in this Agreement to any section of the UCC shall mean, on or after the effective date of adoption of any revision to the UCC in the applicable jurisdiction, such revised or successor section thereto.
ARTICLE II
PURCHASE OF THE NOTES
Section 2.1    Sale and Delivery of the Notes.
(a)    On the basis of the representations and warranties and subject to the terms and conditions set forth herein and in the other Transaction Documents, the Issuer agrees to deliver on the Restatement Effective Date, to each of the Persons set forth on Schedule 2, a Note with a maximum aggregate principal amount of up to the Purchase Limit set forth opposite such Person’s name on Schedule 2.  Each Note shall be duly executed by the Issuer, duly authenticated by the Indenture Trustee and registered in the name of each of the Persons set forth on Schedule 2 or its nominee.  In connection with any transfer of a Note made in accordance with Section 202 of the Supplement (including the related Series 2009-1 Note Existing Commitment), the Issuer agrees to deliver a Note in the name of such transferee, or a nominee on behalf of such transferee, in the maximum aggregate principal amount determined pursuant to the related Assignment and Acceptance.  Any such assignment of a Series 2009-1 Note and all or a portion of the Series 2009-1 Existing Commitment of a Series 2009-1 Noteholder may be effected by the execution and delivery to the Issuer and the Indenture Trustee of an Assignment and Assumption Agreement.  The actual unpaid principal balance of the Notes will be increased and decreased from time to time in accordance with the terms hereof, the Supplement and the Indenture.  The Issuer acknowledges and agrees that each Purchaser and its related Indemnified Parties (as defined in the Supplement) shall be entitled to the benefits of Sections 206, 207 and 208 of the Supplement, and such Indemnified Party shall only make such claims through the Indenture Trustee.
(b)    The Issuer may request (each such request to be substantially in the form of Exhibit A hereto, a “Funding Notice”), by delivery of a Funding Notice to the Administrative Agent (and the Administrative Agent will promptly forward a copy of such Funding Notice to each Purchaser) that the Purchasers make a Series 2009-1 Advance on the date specified therein (such date, the “Funding Date”), each such Funding Notice to be irrevocable when given and shall be on the terms and conditions set forth herein and in Section 205(b) of the Supplement.  
(c)    The Issuer may, within 60 days, but no later than 45 days (or such shorter period as may be approved by all of the parties hereto), prior to the then current Scheduled Commitment Expiration Date, by written notice to each Deal Agent, with a copy to the Indenture Trustee and the Series Enhancer, if any, for Series 2009-1, request the Purchasers to extend the Scheduled Commitment Expiration Date for an additional period of up to 364 days (or such other period as all of the parties hereto shall agree) from the then current Scheduled Commitment Expiration Date.  Each of the Purchasers shall make a determination, in its sole discretion and after a full credit review, within 30 days of its receipt of the Issuer’s request, as to whether or not it will agree to extend the Scheduled Commitment Expiration Date; provided, however, that the failure of any Purchaser to make a timely response to the Issuer’s request for extension of the Scheduled Commitment 

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Expiration Date shall be deemed to constitute a refusal by such Purchaser to extend the Scheduled Commitment Expiration Date.  Any such renewal shall become effective only upon written confirmation to the Issuer by each Deal Agent on behalf of the consenting Purchaser of its agreement to so renew, upon receipt by each Deal Agent of any fees required to be paid in connection with such renewal, and receipt by the Issuer and such Deal Agent of the written consent of the Series Enhancer for Series 2009-1, if any, to such extension of the Scheduled Commitment Expiration Date.
Section 2.2    Acceptance and Custody of Notes.
On the Restatement Effective Date, each Purchaser (or its respective Deal Agent) shall take delivery of its applicable Note and each respective Deal Agent shall maintain custody thereof on behalf of such Purchaser. Promptly following the Restatement Effective Date, each Existing Series 2009-1 Noteholder shall deliver to the Issuer the original Note issued to such Existing Series 2009-1 Noteholder under the Original Note Purchase Agreement (each, an “Old Note”) and the Issuer shall forward such Old Note to the Indenture Trustee for cancellation.   
Section 2.3    Increase/Reduction of the Series 2009-1 Note Existing Commitment.
(a)    The Issuer may from time to time, upon at least thirty (30) days (or such shorter period of time as each of the then Deal Agents shall agree) written notice to the Deal Agents, with a copy to the Indenture Trustee, terminate in whole or reduce in part the unused Purchase Limit; provided, however, that each partial reduction of the unused Purchase Limit shall be in amounts equal to $10,000,000 or an integral multiple of $1,000,000 in excess thereof and shall be allocated pro rata among the Notes (based on the then current maximum principal amount of each such Note). Each notice of reduction or termination pursuant to this Section 2.3 shall be irrevocable.  Notwithstanding the foregoing, the Issuer may reduce to zero and terminate the entire Purchase Limit, upon (a) at least five (5) Business Days’ prior written notice to the Deal Agents, with a copy to the Indenture Trustee, specifying the proposed payment date of such termination, and (b) payment in full of (i) the principal of, and premium, if any, and interest on, the Notes and (ii) Breakage Costs (if payment is not made on a Payment Date) and all other Outstanding Obligations of the Issuer under the Indenture, the Supplement and this Agreement.
(b)    The Issuer may request that the Purchase Limit be increased to an aggregate amount not to exceed Seven Hundred Fifty Million Dollars ($750,000,000); provided, that the aggregate Purchase Limit may be increased to an amount greater than Seven Hundred Fifty Million Dollars ($750,000,000) if such increase is approved by the Control Party for Series 2009-1.  In connection with any such increase, (i) there shall be an increase in the Purchase Limit (and in the Series 2009-1 Note Existing Commitment) of one or more of the existing Series 2009-1 Noteholder(s) (each an “Increasing Series 2009-1 Noteholder”) that elect in their sole discretion to the increase thereof (and in the amounts so agreed to by such existing Series 2009-1 Noteholder(s) in their sole discretion), (ii) additional Series 2009-1 Notes shall be issued to one or more commercial banks, finance companies or other Persons, if any, that shall elect to become additional Series 2009-1 Noteholders (each an “Additional Series 2009-1 Noteholder”) and Purchasers hereunder and (iii) Schedule 2 hereto shall be deemed to have been amended accordingly.
(c)    The effectiveness of any proposed increase in the Purchase Limit pursuant to the immediately preceding paragraph (b) shall be subject to each of the following conditions precedent:
(i)    Each of the following shall be satisfied upon the effectiveness of such proposed increase: (x) the Conversion Date shall not have occurred; (y) since the Renewal Date there shall not have occurred more than five (5) such increases (including the proposed increase) in the Purchase Limit pursuant to this Section 2.3; and (z) the aggregate Purchase Limit shall 

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not exceed Seven Hundred Fifty Million Dollars ($750,000,000) (or such higher amount that is authorized pursuant to the proviso in the first sentence of the immediately preceding paragraph (b));
(ii)    The Issuer shall execute and deliver such documents and instruments and take such other actions as may be reasonably required by the Administrative Agent and/or the Indenture Trustee in connection with and at the time of any such proposed increase, including, without limitation, a certificate of the Issuer, in form and substance reasonably acceptable to the Administrative Agent, certifying that each of the conditions precedent in this Section 2.3(c) to the effectiveness of such proposed increase has been satisfied;
(iii)     At the time of and immediately after giving effect to any such proposed increase, no Early Amortization Event or Event of Default shall exist, all representations and warranties of the Issuer set forth in the Series 2009-1 Transaction Documents shall be true and correct in all material respects and, since the Closing Date, there shall have been no Material Adverse Change;
(iv)    The Issuer shall provide at least thirty (30) days written notice to the Administrative Agent (who shall promptly provide a copy of such notice to the Indenture Trustee and each Series 2009-1 Noteholder and its related Deal Agent) of any proposal to increase in the aggregate Purchase Limit.  The Issuer may also, but is not required to, specify any fees offered to each Increasing Series 2009-1 Noteholder, which fees may be variable based upon the amount by which any such Increasing Series 2009-1 Noteholder is willing to increase its Series 2009-1 Note Existing Commitment.  Each Increasing Series 2009-1 Noteholder shall as soon as practicable, and in any case within fifteen (15) days following receipt of such notice, specify in a written notice to the Issuer and the Administrative Agent the amount of such proposed increase that it is willing to provide (and the Issuer may elect to accept or reject such amount in its sole and absolute discretion).  No Series 2009-1 Noteholder (or any successor thereto) shall have any obligation, express or implied, to offer to increase its Series 2009-1 Note Existing Commitment, and any decision by a Series 2009-1 Noteholder to increase its Series 2009-1 Note Existing Commitment shall be made in its sole discretion independently from any other Series 2009-1 Noteholder;
(v)     Each Additional Series 2009-1 Noteholder shall deliver to the Issuer and the Administrative Agent on or prior to the date of such proposed increase, an originally executed copy of an instrument of joinder, in form and substance reasonably acceptable to the Administrative Agent, executed by the Issuer, by each Additional Series 2009-1 Noteholder and by each Increasing Series 2009-1 Noteholder, setting forth the Purchase Limit of such Additional Series 2009-1 Noteholder and setting forth the agreement of such Additional Series 2009-1 Noteholder to become a party to this Agreement and to be bound by all of the terms and provisions hereof; and 
(vi)     The Issuer shall have executed and delivered, to the extent requested by any Additional Series 2009-1 Noteholder or any Increasing Series 2009-1 Noteholder, one or more Series 2009-1 Notes evidencing the new or revised Purchase Limit of such Series 2009-1 Noteholders.
(d)    Upon the effectiveness of any such proposed increase in the Purchase Limit, Schedule 2 hereto shall automatically be deemed to be amended accordingly.

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(e)    On the effective date of any increase pursuant to Section 2.3(b) above, (i) each Increasing Series 2009-1 Noteholder or Additional Series 2009-1 Noteholder shall make available to the Administrative Agent such amounts in immediately available funds as the Administrative Agent shall determine, for the benefit of the other relevant Series 2009-1 Noteholders, as being required in order to cause, after giving effect to the applicable increase and the use of such amounts to make payments to such other relevant Series 2009-1 Noteholders, each Series 2009-1 Noteholder’s portion of the sum of the outstanding Series 2009-1 Advances of all the Series 2009-1 Noteholders to equal its Percentage of such Series 2009-1 Advances and (ii) the Issuer shall be deemed to have repaid and reborrowed all outstanding Series 2009-1 Advances of such Series 2009-1 Noteholder equal to its Percentage of such outstanding Series 2009-1 Advances as of the date of any increase in the Purchase Limits.  If the payments referenced in the immediately preceding sentence shall occur on any date other than a Payment Date, then the Issuer shall indemnify each affected Series 2009-1 Noteholder with respect to, and shall pay to each affected Series 2009-1 Noteholder, any Breakage Costs incurred by such Series 2009-1 Noteholder in connection therewith.
(f)    Notwithstanding anything herein to the contrary, (x) only the consent of each Increasing Series 2009-1 Noteholder shall be required for an increase in the aggregate Purchase Limit pursuant to this Section, (y) no Series 2009-1 Noteholder which declines to increase the principal amount of its Purchase Limit may be replaced with respect to its Purchase Limit as a result thereof without such Series 2009-1 Noteholder’s consent, and (z) if any Series 2009-1 Noteholder shall fail to notify the Issuer and the Administrative Agent in writing about whether it will increase its Purchase Limit within fifteen (15) days after receipt of such notice, such Series 2009-1 Noteholder shall be deemed to have declined to increase its Purchase Limit.
Section 2.4    Payments, Computations, Etc.
(a)    Unless otherwise expressly provided herein, in the Indenture or the Supplement, all amounts to be paid or deposited by the Issuer hereunder shall be paid or deposited in accordance with the terms hereof no later than noon (New York time) on the day when due in lawful money of the United States in immediately available funds to the applicable Deal Agent’s Account.  The Issuer shall, to the extent permitted by law, pay to the Series 2009-1 Noteholders interest on all amounts not paid or deposited when due on the Notes at the Default Rate, payable on demand, but only to the extent provided in Sections 203(b) and 203(c) of the Supplement.  Such interest shall be retained by the Deal Agents except, in each case, to the extent that such failure to make a timely payment or deposit has continued beyond the date for distribution by the Deal Agents of such overdue amount to the related Series 2009-1 Noteholders, in which case such interest accruing after such date shall be for the account of, and distributed by the Deal Agents to, such related Series 2009-1 Noteholders.  All computations of interest and other fees hereunder shall be made on the basis of a year of 360 days (or, in the case of interest calculated at the Base Rate, 365 or 366 days, as applicable) for the actual number of days (including the first but excluding the last day) elapsed.
(b)    Whenever any payment hereunder shall be stated to be due on a day other than a Business Day, such payment shall be made on the next Business Day, and such extension of time shall in such case be included in the computation of payment of any interest or any fee payable hereunder, as the case may be.
Section 2.5    Appointment of Managing Agent.
The Issuer hereby appoints SunTrust Bank as a Managing Agent with respect to Series 2009-1.  The Managing Agent shall have no incremental duties or responsibilities beyond those of a Purchaser.
Section 2.6    Funding By Non-Defaulting Noteholders.

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(a)    If any Series 2009-1 Noteholder is a Defaulting Noteholder, then the Issuer may request each Series 2009-1 Noteholder that is not a Defaulting Noteholder (a "Non-Defaulting Noteholder") to make a Series 2009-1 Advance in an amount equal to such Non-Defaulting Noteholder's proportionate share (measured by the Series 2009-1 Note Existing Commitments of the Non-Defaulting Noteholders) of the Availability of the Defaulting Noteholder (the "Incremental Funding Amount"), and each Non-Defaulting Noteholder shall have the option to fund its proportionate share of the Incremental Funding Amount; provided, however, that a Non-Defaulting Noteholder shall not have any obligation to fund in excess of its Availability.
(b)    Nothing in this Section 2.6 shall affect or limit the obligations of any Series 2009-1 Noteholder to make Series 2009-1 Advances in accordance with this Agreement or the Supplement.
ARTICLE III
CONDITIONS OF PURCHASE
Section 3.1    Conditions Precedent to Purchase.
The effectiveness of this Agreement and the acquisition of the Notes contemplated hereby are subject to the satisfaction, on or before the Restatement Effective Date of (i) each condition precedent listed in Schedule 1 hereto and (ii) each condition precedent set forth in Section 501 of the Supplement.
Section 3.2    Conditions Precedent to Each Series 2009-1 Advance.
Each Series 2009-1 Advance (including the Series 2009-1 Advance on the Restatement Effective Date) from the Issuer shall be subject to the satisfaction of the conditions precedent listed in Section 502 of the Supplement.
ARTICLE IV
REPRESENTATIONS AND WARRANTIES
Section 4.1    Representations and Warranties of the Issuer.
The representations and warranties of the Issuer contained in the Indenture and the other Series 2009-1 Transaction Documents are hereby incorporated herein by reference and made for the benefit of each of the parties hereto, with the same force and effect as if such representations and warranties were set forth herein in full. In addition, the Issuer represents and warrants, as of the Restatement Effective Date and each date on which a Purchase shall occur (except to the extent that any such representation and warranty specifically relates to an earlier date), as follows:
(1)    Information.  No information, exhibit, financial statement, document, book, record or report furnished or to be furnished by it to a Deal Agent or a Purchaser in writing (i) is or will be inaccurate in any material respect as of the date it is or shall be dated or (except as otherwise disclosed to the recipient thereof at the time of delivery or thereafter) as of the date so furnished and (ii) no such document contains or will contain any material misstatement of fact or omits or shall omit to state a material fact necessary to make the statements contained therein not misleading in light of the statements made therein, in each case as of the date it is or shall be dated or (except as otherwise disclosed to the recipient thereof at the time of delivery or thereafter) as of the date so furnished.

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(2)    Accuracy of Representations and Warranties.  Each representation and warranty made by it contained herein or in any certificate or other document furnished by it pursuant hereto or to any Series 2009-1 Transaction Document or in connection herewith or therewith is true and correct in all material respects as of the date made by it.
(3)    Offer and Sale.  Neither the Issuer nor any Person acting on its behalf has offered to sell the Notes by any form of general solicitation or general advertising.  The Issuer has not offered or sold the Notes or other similar security in any manner that would render the issuance and sale of the Notes a violation of the Securities Act, require registration pursuant thereto, nor has it authorized nor will it authorize any person to act in such manner.
(4)    OFAC.  The Issuer (i) is a “U.S. Person” within the meaning of laws, rules and regulations promulgated, imposed or monitored by OFAC, and (ii) does not derive any of its assets or revenues from investments in, or transactions with, Sanctioned Persons.
Section 4.2    Representations, Warranties and Agreements of the Purchasers.
Each Purchaser hereby represents and warrants to, and agrees with, the Issuer that:
(1)    The Purchaser understands that the Note purchased by it has not been registered under the Securities Act or the securities laws of any State and, if the Note is not then registered under applicable federal and State securities law (which registration the Issuer is not obligated to effect), it will not offer to sell, transfer or otherwise dispose of the Note or any portion thereof except in a transaction which is exempt from such registration.
(2)    The Purchaser is acquiring the Note for its own account, and not as a nominee for any other Person, and the Purchaser is not acquiring the Note with a view to or for sale or transfer in connection with any distribution of the Note under the Securities Act, but subject, nevertheless, to the condition that all dispositions of its property shall at all times be within its control.
(3)    The Purchaser is an institutional “accredited investor” of the type described in clause (1) of Section 501(a) of Regulation D under the Securities Act.
(4)    The Purchaser is not acquiring the Note with the assets of a Benefit Plan Investor. 
(5)    Neither the Purchaser nor any Person acting on its behalf has offered to sell the Note by any form of general solicitation or general advertising.  The Purchaser has not offered the Note in any manner that would render the issuance and sale of the Note a violation of the Securities Act, or require registration pursuant thereto, nor has it authorized nor will it authorize any person to act in such manner.
ARTICLE V
GENERAL COVENANTS
Section 5.1    General Covenants of the Issuer.
The Issuer hereby covenants with each Deal Agent and the Purchasers as follows:
(1)    The Issuer hereby agrees to notify the Deal Agents and the Series Enhancer, if any, for Series 2009-1 as soon as possible, and in any event within five (5) days after the earlier to occur of (i) actual knowledge and (ii) notice to the Issuer, of (a) the occurrence of any Event of Default, (b) the occurrence of 

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any Early Amortization Event, (c) any fact, condition or event which, with the giving of notice or the passage of time or both, could become an Event of Default, (d) any fact, condition or event which, with the giving of notice or the passage of time or both, could become an Early Amortization Event, (e) the failure of the Issuer to observe any of its material undertakings under the Series 2009-1 Transaction Documents or (f) any change in the status or condition of the Issuer or the Manager that would reasonably be expected to adversely affect the Issuer’s or the Manager’s ability to perform its obligations under the Series 2009-1 Transaction Documents.
(2)    The Issuer agrees not to sell, offer for sale or solicit offers to buy or otherwise negotiate in respect of any security (as defined in the Securities Act) that would be integrated with the sale of the Note in a manner that would require the registration under the Securities Act of the sale to any Purchaser of any Note.
(3)    Any notice of any voluntary Prepayment of the Notes made in accordance with the provisions of Section 204(b) of the Supplement shall be irrevocable when given.
ARTICLE VI
INDEMNIFICATION
Section 6.1    Indemnities by the Issuer.
Without limiting any other rights which the Deal Agents, the Purchasers or any of their respective Affiliates, officers, directors, employees and/or agents thereof or their respective successors and assigns may have hereunder or under applicable law, the Issuer hereby agrees to indemnify each of the Deal Agents, the Purchasers and each of their respective officers, directors, employees, counsel and agents thereof (each, an “Indemnified Party”) from and against any and all liabilities, losses, damages, costs and expenses (including reasonable and documented, out-of-pocket costs of defense and legal fees and expenses) which may be incurred or suffered by such Indemnified Party, except to the extent caused by the gross negligence or willful misconduct of the Indemnified Party (all of the foregoing being collectively referred to as “Indemnified Amounts”) as a result of claims, actions, suits or judgments asserted or imposed against an Indemnified Party and arising out of this Agreement and the Transaction Documents or the transactions contemplated thereby or the ownership or security interest in any Transferred Assets as contemplated herein including, without limitation, as a result of (i) an action or inaction by the Issuer that is contrary to the terms of this Agreement or any other Transaction Document to which it is a party, (ii) a breach by the Issuer of any of its covenants and agreements set forth in this Agreement or any other Transaction Document to which it is a party, (iii) any information provided by the Issuer in writing being untrue in any material respect as of the date provided, and (iv) any representation or warranty of the Issuer proven to have been false or misleading in any material respect when made or deemed made in this Agreement or in any Transaction Document.
Promptly after receipt by an Indemnified Party of notice of the assertion of a claim or the commencement of a proceeding by a third party with respect to any matter referred to in this Section 6.1 which could be the subject of an indemnification claim against the Issuer hereunder, such Indemnified Party (to the extent permitted) shall give written notice thereof to the Issuer and thereafter shall keep the Issuer reasonably informed with respect thereto; provided, however, that failure of an Indemnified Party to give the Issuer written notice as provided herein shall not relieve the Issuer of its obligations hereunder unless the Issuer is materially and adversely prejudiced thereby and, in any such instance (whether or not such Indemnified Party was permitted to give written notice), the indemnification obligation of the Issuer to such Indemnified Party shall only be reduced by the amount of incremental costs or losses to the Issuer related to the failure to deliver such notice in a timely manner.  If any such proceeding (including any litigation, 

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arbitration or similar proceeding) shall be brought against any Indemnified Party, the Issuer or the Manager shall be entitled to assume the defense thereof at the Issuer’s or the Manager’s expense with counsel chosen by the Issuer or the Manager and reasonably satisfactory to the Indemnified Party; provided, however, that any (i) Indemnified Party may at its own expense retain separate counsel to participate in such defense and (ii) neither the Issuer nor the Manager shall be entitled to assume the defense of any such proceeding brought by a Government Authority or self-regulatory authority having or claiming to have jurisdiction over any of the affairs of the relevant Indemnified Party or any of its Affiliates.  The Issuer and the Manager shall not be liable under this Article VI for any amount paid in settlement of such claims or proceedings without the consent of the Issuer or the Manager unless such consent is unreasonably withheld.  All Indemnified Amounts shall be paid to the appropriate Indemnified Party within 30 days after such Indemnified Party’s written demand for such amount.
Notwithstanding anything to the contrary, the Issuer’s obligations to make payments under this Section 6.1 shall be limited solely to funds available from time to time for such purpose pursuant to Section 302 or Section 806 of the Indenture and to the extent they are not so paid, such obligations shall not constitute a “claim” (as defined in Section 101(5) of the Bankruptcy Code) against the Issuer.
ARTICLE VII
THE DEAL AGENT
Section 7.1    Authorization and Securities Action.
Each Purchaser hereby designates and appoints its related Deal Agent as a Deal Agent hereunder, and authorizes its related Deal Agent to take such actions as agent on its behalf and to exercise such powers as are delegated to the Deal Agents by the terms of this Agreement together with such powers as are reasonably incidental thereto.  Each Purchaser and each Deal Agent shall not have any duties or responsibilities, except those expressly set forth herein, or any fiduciary relationship with any Purchaser or any other Deal Agent, and no implied covenants, functions, responsibilities, duties, obligations or liabilities on the part of a Purchaser or a Deal Agent shall be read into this Agreement or otherwise exist for any Purchaser or any Deal Agent.  In performing its functions and duties hereunder, each Deal Agent shall act solely as agent for its related Purchaser and does not assume nor shall be deemed to have assumed any obligation or relationship of trust or agency with or for the Issuer or any of its successors or assigns.  The Deal Agents shall not be required to take any action which exposes the Deal Agents to personal liability or which is contrary to this Agreement, any other Series 2009-1 Transaction Document or applicable law.  The appointment and authority of the Deal Agents hereunder shall terminate on the Collection Date.
Section 7.2    Delegation of Duties.
Each Deal Agent may execute any of its duties under this Agreement by or through agents or attorneys-in-fact and shall be entitled to advice of counsel concerning all matters pertaining to such duties.  Each Deal Agent shall not be responsible for the negligence or misconduct of any agents or attorneys-in-fact selected by it with reasonable care.
Section 7.3    Exculpatory Provisions.
The Deal Agents and any of their respective directors, officers, agents or employees shall not be (i) liable for any action lawfully taken or omitted to be taken by it or them under or in connection with this Agreement (except for its, their or such Person’s own gross negligence or willful misconduct) or (ii) responsible in any manner to any of the Purchasers for any recitals, statements, representations or warranties 

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made by the Issuer contained in this Agreement or in any certificate, report, statement or other document referred to or provided for in, or received under or in connection with, this Agreement or for the value, validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other document furnished in connection herewith, or for any failure of the Issuer to perform its obligations hereunder, or for the satisfaction of any condition specified in Article III hereof.  The Deal Agents shall not be under any obligation to any Purchaser to ascertain or to inquire as to the observance or performance of any of the agreements or covenants contained in, or conditions of, this Agreement, or to inspect the properties, books or records of the Issuer.  No Deal Agent shall be deemed to have knowledge of any Event of Default or Early Amortization Event unless such Deal Agent has received written notice to such effect from the Issuer, the Indenture Trustee or a Purchaser.
Section 7.4    Reliance.
The Deal Agents shall in all cases be entitled to rely, and shall be fully protected in relying, upon any document or conversation believed by them to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to the Issuer), independent accountants and other experts selected by the Deal Agents.  The Deal Agents shall in all cases be fully justified in failing or refusing to take any action under this Agreement or any other document furnished in connection herewith unless it shall first receive such advice or concurrence of the related Purchasers, as it deems appropriate or it shall first be indemnified to its satisfaction by the Purchasers, provided that unless and until the Deal Agents shall have received such advice, the Deal Agents may take or refrain from taking any action as such Deal Agents shall deem advisable and in the best interests of the related Purchasers.  The Deal Agents shall in all cases be fully protected in acting, or refraining from acting, in accordance with a request of the related Purchasers, and such request and any action taken or failure to act pursuant thereto shall be binding upon all Purchasers.
Section 7.5    Non-Reliance on Deal Agents and Other Purchasers.
Each Purchaser expressly acknowledges that none of the Deal Agents or any of their respective officers, directors, employees, agents, attorneys-in-fact or affiliates has made any representations or warranties to it and that no act by the Deal Agents hereafter taken, including, without limitation, any review of the affairs of the Issuer, shall be deemed to constitute any representation or warranty by the Deal Agents.  Each Purchaser represents and warrants to the Deal Agents that it has made and will make, independently and without reliance upon the Deal Agents or any other Purchaser and based on such documents and information as it has deemed appropriate, its own appraisal of and investigation into the business, operations, property, prospects, financial and other conditions and creditworthiness of the Issuer and the Manager and made its own decision to enter into this Agreement.
Section 7.6    Deal Agent in its Individual Capacity.
Any of the Deal Agents and their Affiliates may make loans to, accept deposits from and generally engage in any kind of business with the Issuer or any Affiliate of the Issuer as though the Deal Agents were not the Deal Agents hereunder.  With respect to the acquisition of the Notes pursuant to this Agreement, each of the Deal Agents and their Affiliates shall have the same rights and powers under this Agreement as any Purchaser and may exercise the same as though it were not a Deal Agent and the terms “Purchaser” and “Purchasers” shall include the Deal Agents in their individual capacity, if any such Deal Agent shall become a Purchaser hereunder.

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Section 7.7    Successor Deal Agent.
Each Deal Agent may, upon 5 days’ notice to the Issuer, the related Purchasers and the Series Enhancer, if any, and each Deal Agent will, upon the direction of all of its related Purchasers, resign as Deal Agent. If such Deal Agent shall resign, then the Purchasers related to such Deal Agent during such 5-day period shall appoint from among the applicable Purchasers a successor agent.  If for any reason no successor Deal Agent is appointed during such 5-day period, then effective upon the termination of such 5-day period, the Purchasers related to such Deal Agent shall perform all of the duties of a Deal Agent hereunder and the Issuer shall for all purposes deal directly with such Purchasers.  After any retiring Deal Agent’s resignation hereunder as Deal Agent, the provisions of Article VI and Article VII hereof shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Deal Agent under this Agreement.  Any retiring Deal Agent shall provide prompt written notice of its resignation hereunder to each Rating Agency.
ARTICLE VIII
MISCELLANEOUS
Section 8.1    Amendments and Waivers.
(1)    No amendment, waiver or modification of any provision of this Agreement shall be effective without the written agreement of the Issuer, Purchasers representing in aggregate more than fifty percent (50%) of the then aggregate Series 2009-1 Note Existing Commitment (or, if the Conversion Date has occurred, the then Aggregate Series 2009-1 Principal Balance), the Deal Agents and, unless such amendment or modification deals solely with the matters set forth in Article VII hereof, the Control Party for Series 2009-1; provided, however, that no such amendment, modification or waiver shall:
(a)    without consent of each affected Purchaser and Deal Agent, (A) reduce the amount of any fee payable to the Purchasers or the Deal Agents for the benefit of the Purchasers, (B) consent to, or permit the assignment or transfer by the Issuer of any of its rights and obligations under this Agreement, (C) amend this Agreement in any way that would require the consent of each Noteholder under Section 1002(a) of the Indenture, (D) extend the Scheduled Commitment Expiration Date or, except as set forth in Section 2.3 hereof, increase its Series 2009-1 Note Existing Commitment or (E) amend or modify any defined term (or any defined term used directly or indirectly in such defined term) used in clauses (A) through (D) above in a manner which would circumvent the intention of the restrictions set forth in such clauses; or
(b)    without the written consent of each affected Deal Agent, amend, modify or waive any provision of this Agreement if the effect thereof is to affect the rights or duties of each such Deal Agent.
Any waiver or consent shall be effective only in the specific instance and for the specific purpose for which given.  Any modification or waiver shall apply to each of the Purchasers equally and shall be binding upon the Issuer, the Purchasers and the Deal Agents.
(2)    The Deal Agents shall provide prompt written notice of the nature of each amendment to this Agreement, and shall, simultaneously therewith, deliver a copy of such amendment to each Rating Agency.
Section 8.2    Notices, Etc.
All demands, notices and communications hereunder shall be in writing, personally delivered, by facsimile or PDF file (with subsequent telephone confirmation of receipt thereof), or sent by internationally recognized overnight courier service, to the addresses set forth on the signature pages hereto (and for the Administrative Agent, to the address set forth in the Indenture) or at other such address as shall be designated 

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by such party in a written notice to the other parties hereto.  Notice shall be effective and deemed received (a) two days after being delivered to the courier service, if sent by courier, (b) upon receipt of confirmation of transmission, if sent by telecopy, or (c) when delivered, if delivered by hand.
Section 8.3    No Waiver; Remedies.
No failure on the part of a Deal Agent or a Purchaser to exercise, and no delay in exercising, any right hereunder shall operate as a waiver thereof; nor shall any single or partial exercise of any right hereunder preclude any other or further exercise thereof or the exercise of any other right.  The remedies herein provided are cumulative and not exclusive of any remedies provided by law.
Section 8.4    Binding Effect.
This Agreement shall be binding upon and inure to the benefit of the Issuer, the Deal Agents, the Purchasers and their respective successors and permitted assigns.
Section 8.5    Term of this Agreement.
This Agreement, including, without limitation, the Issuer’s obligations to observe its covenants and agreements set forth herein, shall remain in full force and effect until the Collection Date; provided, however, that the obligations of the Issuer under the indemnification and payment provisions of Article VI and the provisions of Section 8.9. 8.10 and 8.17 and the agreements of the parties contained in Sections 8.6, 8.7, 8.8 and 8.12 shall be continuing and shall survive any termination of this Agreement.
Section 8.6    GOVERNING LAW.
THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, INCLUDING SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW BUT OTHERWISE WITHOUT GIVING EFFECT TO THE PRINCIPLES OF CONFLICTS OF LAW, AND THE RIGHTS, OBLIGATIONS AND REMEDIES OF THE PARTIES HERETO SHALL BE DETERMINED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK .
Section 8.7    WAIVER OF JURY TRIAL; CONSENT TO JURISDICTION.
(1)    TO THE EXTENT PERMITTED BY APPLICABLE LAW, EACH OF THE PARTIES HERETO WAIVES ANY RIGHT TO HAVE A JURY PARTICIPATE IN RESOLVING ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT, OR OTHERWISE BETWEEN THE PARTIES HERETO ARISING OUT OF, CONNECTED WITH, RELATED TO, OR INCIDENTAL TO THE RELATIONSHIP BETWEEN ANY OF THEM IN CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.  INSTEAD, ANY SUCH DISPUTE RESOLVED IN COURT WILL BE RESOLVED IN A BENCH TRIAL WITHOUT A JURY.
(2)    THE PARTIES HERETO HEREBY IRREVOCABLY SUBMIT TO THE NONEXCLUSIVE JURISDICTION OF ANY UNITED STATES FEDERAL OR STATE COURT LOCATED IN THE COUNTY OF NEW YORK, SOLELY FOR THE PURPOSES OF ANY ACTION, SUIT OR PROCEEDING BROUGHT AGAINST IT AND TO OR IN CONNECTION WITH THIS AGREEMENT ANY OF THE SERIES 2009-1 TRANSACTION DOCUMENTS OR THE TRANSACTIONS CONTEMPLATED THEREUNDER OR FOR RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT, AND THE PARTIES HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY AGREE THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING MAY BE HEARD OR 

- 13 -

DETERMINED IN ANY SUCH COURT.  IN THE EVENT THAT ANY SUCH ACTION, SUIT OR PROCEEDING IS BROUGHT IN A STATE COURT, THE PARTIES WILL SEEK ASSIGNMENT TO THE COMMERCIAL PART OF SAID COURT.  THE PARTIES HERETO AGREE THAT A FINAL JUDGMENT IN ANY SUCH ACTION, SUIT OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW.  TO THE EXTENT PERMITTED BY APPLICABLE LAW, THE PARTIES HERETO HEREBY WAIVE AND AGREE NOT TO ASSERT BY WAY OF MOTION, AS A DEFENSE OR OTHERWISE IN ANY SUCH SUIT, ACTION OR PROCEEDING, ANY CLAIM THAT IS NOT PERSONALLY SUBJECT TO THE JURISDICTION OF SUCH COURTS, THAT THE SUIT, ACTION OR PROCEEDING IS BROUGHT IN AN INCONVENIENT FORUM, THAT THE VENUE OF THE SUIT, ACTION OR PROCEEDING IS IMPROPER OR THAT THE SERIES 2009-1 TRANSACTION DOCUMENTS OR THE SUBJECT MATTER THEREOF MAY NOT BE LITIGATED IN OR BY SUCH COURTS.
(3)    TO THE EXTENT PERMITTED BY APPLICABLE LAW, THE PARTIES HERETO SHALL NOT SEEK AND HEREBY WAIVE THE RIGHT TO ANY REVIEW OF THE JUDGMENT OF ANY SUCH COURT BY ANY COURT OF ANY OTHER NATION OR JURISDICTION WHICH MAY BE CALLED UPON TO GRANT AN ENFORCEMENT OF SUCH JUDGMENT.
Section 8.8    Inspection Rights, Costs, Expenses and Taxes.
In addition to the rights of indemnification granted to the Deal Agents, the Purchasers and their respective Affiliates under Article VI hereof, the Issuer agrees to pay on demand all costs and expenses incurred by a Purchaser, a Deal Agent and their respective Affiliates, successors or assigns, with respect to enforcing their respective rights and remedies as against the Issuer under this Agreement, the Indenture, any Note, any other Series 2009-1 Transaction Document and the other documents to be delivered hereunder or in connection herewith; provided, however, that none of the Deal Agents, any Purchaser or any Affiliate thereof shall be entitled to any such payment (and shall reimburse the Issuer for any such payments previously received) if such person has been determined by a court of competent jurisdiction to not be entitled to receive indemnification pursuant to Article VI hereof in connection with such enforcement.  The Issuer also agrees to pay on demand all costs and expenses of the Purchasers and the Deal Agents, and their respective Affiliates, successors or assigns, if any (including reasonable and documented counsel fees and expenses), incurred in connection with the negotiation, execution, and delivery of this Agreement and the transactions contemplated hereby, any removal of the Manager or the enforcement, administration (including periodic auditing), amendment or modification of, or any waiver or consent issued in connection with, this Agreement, the Series 2009-1 Transaction Documents and the other documents to be delivered hereunder, including, without limitation, the reasonable and documented fees and out-of-pocket expenses of counsel for the Purchasers and the Deal Agents with respect thereto and with respect to advising the Purchasers and the Deal Agents as to their rights and remedies under this Agreement, the Series 2009-1 Transaction Documents and the other agreements executed pursuant hereto; provided, however, that the Issuer’s obligation to pay any such costs or expenses incurred in connection with the ongoing inspection of the books and records of the Issuer will be subject to such limitations and conditions as are set forth in Section 1304 of the Indenture.  Any amounts subject to the provisions of this Section 8.8 shall be paid by the Issuer to the applicable Deal Agent on the Payment Date immediately following such Deal Agent’s demand therefor.  Notwithstanding anything to the contrary, the Issuer’s obligations to make payments under this Section 8.8 shall be limited solely to funds available from time to time for such purpose pursuant to Section 302 or Section 806 of the Indenture and to the extent they are not so paid, such obligations shall not constitute a “claim” (as defined in Section 101(5) of the Bankruptcy Code) against the Issuer.

- 14 -

Section 8.9    No Proceedings.
Notwithstanding any prior termination of this Agreement, each Deal Agent and each Purchaser agrees that it shall not, with respect to the Issuer, institute or join any other Person in instituting any proceeding of the type referred to in the definition of “Bankruptcy Event” against or with respect to the Issuer or so long as any Outstanding Obligation shall be unpaid and there shall not have elapsed one year plus one day since the last day on which any such Outstanding Obligation shall have been unpaid.  The foregoing shall not limit the right of any such Person to file any claim in or otherwise take any action with respect to any such proceeding that was instituted against Issuer by any Person other than any Deal Agent and the Purchaser.  In addition, each Deal Agent and each Purchaser agrees that all amounts owed to it by Issuer shall be payable solely from amounts that become available for such payment pursuant to the Series 2009-1 Transaction Documents, and no such amounts shall constitute a claim (as defined in Section 101(5) of the Bankruptcy Code) against Issuer to the extent that they are in excess of the amounts available for their payment.
“Bankruptcy Event” means, for any Person, any of the following events:
(a)    a case or other proceeding shall be commenced, without the application or consent of such Person, in any court, seeking the liquidation, reorganization, debt arrangement, dissolution, winding up or composition or readjustment of debts of such Person, the appointment of a trustee, receiver, custodian, liquidator, assignee, sequestrator or the like for such Person or any substantial part of its assets, or any similar action with respect to such Person under any law relating to bankruptcy, insolvency, reorganization, winding up or composition or adjustment of debts, and such case or proceeding shall continue undismissed, or unstayed and in effect, for a period of 60 days; or any order for relief in respect of such Person shall be entered in an involuntary case under the federal bankruptcy laws or other similar laws now or hereafter in effect, or
(b)    such Person shall commence a voluntary case or other proceeding under any applicable bankruptcy, insolvency, reorganization, debt arrangement, dissolution or other similar law now or hereafter in effect, or shall consent to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, sequestrator or the like, for such Person or any substantial part of its property, or shall make any general assignment for the benefit of creditors, or shall fail to, or admit in writing its inability to, pay its debts generally as they become due.
Section 8.10    Recourse Against Certain Parties.
No recourse under or with respect to any obligation, covenant or agreement, (including, without limitation, the payment of any fees or any other obligations) of any of the Issuer, any Purchaser or any Deal Agent as contained in this Agreement or any other agreement, instrument or document entered into by it pursuant hereto or in connection herewith shall be had against any administrator of such party or any incorporator, affiliate, stockholder, member, manager, officer, employee or director of such party or of any such administrator, as such, by the enforcement of any assessment or by any legal or equitable proceeding, by virtue of any statute or otherwise; it being expressly agreed and understood that the agreements of such party contained in this Agreement and all of the other agreements, instruments and documents entered into by it pursuant hereto or in connection herewith are, in each case, solely the corporate obligations of such party, and that no personal liability whatsoever shall attach to or be incurred by any administrator of such party or any incorporator, stockholder, member, manager, affiliate, officer, employee or director of such party or of any such administrator, as such, or any of them, under or by reason of any of the obligations, covenants or agreements of such party contained in this Agreement or in any other such instruments, documents or agreements, or which are implied therefrom, and that any and all personal liability of every such administrator of such party and each incorporator, stockholder, member, manager, affiliate, officer, employee or director of such party or of any such administrator, or any of them, for breaches by such party of any such obligations, 

- 15 -

covenants or agreements which liability may arise either at common law or at equity, by statute or constitution, or otherwise, is hereby expressly waived as a condition of and in consideration for the execution of this Agreement.
Section 8.11    Ratable Payments.
 If any Purchaser, whether by setoff or otherwise, has payment made to it with respect to any portion of any amount of the principal amount of any Note or other amount owing to such Purchaser (other than payments received pursuant to Article VI hereof) in a greater proportion than that received by any other Purchaser, such Purchaser agrees, promptly upon demand, to pay to the Deal Agent, for distribution ratably to all other Purchasers, the amount of such excess such that all Purchasers shall receive their ratable portion of such payment.
Section 8.12    Confidentiality.
(1)    Each of the Deal Agents, the Purchasers and the Issuer shall maintain and shall cause each of its employees and officers to maintain the confidentiality of this Agreement and the other confidential proprietary information with respect to the other parties hereto and their respective businesses provided to it or them by any party hereto in connection with the structuring, negotiating and execution of the transactions contemplated herein, except that each such party and its officers and employees may (i) disclose such information to any prospective assignees or participants and to its external accountants and attorneys and as required by law, applicable accounting requirements, bank, securities or other regulatory requests or requirements, or order of any judicial or administrative proceeding, (ii) disclose the existence of this Agreement, but not the financial terms thereof and (iv) disclose such information if, after the Restatement Effective Date, such information becomes public other than as a result of a breach of this Agreement.
(2)    Anything herein to the contrary notwithstanding, the Issuer hereby consents to the disclosure of any nonpublic information with respect to it (i) to the Deal Agents or a Purchaser by each other, or (ii) by a Deal Agent or the Purchasers to any prospective or actual assignee or participant of any of them, provided each such Person is informed of the confidential nature of such information and agrees to keep such information confidential pursuant to the terms of this Section 8.12.  In addition, the Purchasers and the Deal Agents may disclose any such nonpublic information pursuant to any law, rule, regulation, direction, request or order of any judicial, administrative or regulatory authority or proceedings (whether or not having the force or effect of law).
(3)    Notwithstanding anything herein to the contrary, the parties hereto may disclose to any and all persons, without limitation of any kind, the tax treatment and tax structure of the transactions contemplated hereby and all materials of any kind (including opinions or other tax analyses) that are provided to such party relating to such tax treatment or tax structure. Notwithstanding anything to the contrary contained herein or in any of the other Transaction Documents, each of the parties hereto acknowledges and agrees that any Deal Agent may post to a secured password-protected internet website maintained by such Deal Agent and required by any Rating Agency rating such Deal Agent’s commercial paper notes in connection with Rule 17g-5 such information as any such Rating Agency may request in connection with the confirming its rating of such commercial paper notes or that such Deal Agent may otherwise determine is necessary or appropriate to post to such website in furtherance of the requirements of Rule 17g-5.  “Rule 17g-5” shall mean Rule 17g-5 under the Securities Exchange Act of 1934 as such may be amended from time to time, and subject to such clarification and interpretation as has been provided by the Securities and Exchange Commission in the adopting release (Amendments to Rules for Nationally Recognized Statistical Rating Organizations, Exchange Act Release No. 34-61050, 74 Fed. Reg. 63,832, 63,865 (Dec. 4, 2009)) and subject to such 

- 16 -

clarification and interpretation as may be provided by the Securities and Exchange Commission or its staff from time to time.
Section 8.13    Execution in Counterparts; Severability; Integration.
This Agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which when taken together shall constitute one and the same agreement.  Execution and delivery of this Agreement by facsimile signature shall constitute execution and delivery of this Agreement for all purposes hereof with the same force and effect as execution and delivery of a manually signed copy hereof.  In case any provision in or obligation under this Agreement shall be invalid, illegal or unenforceable in any jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, shall not in any way be affected or impaired thereby.  This Agreement contains the final and complete integration of all prior expressions by the parties hereto with respect to the subject matter hereof and shall constitute the entire agreement among the parties hereto with respect to the subject matter hereof, superseding all prior oral or written understandings.
Section 8.14    Ratification of Original Note Purchase Agreement.
The amendment and restatement of the Original Note Purchase Agreement shall become effective on the Restatement Effective Date.  This Agreement amends and restates the terms and conditions of the Original Note Purchase Agreement, and is not a novation of the Outstanding Obligations incurred by the Issuer pursuant to the terms of the Original Note Purchase Agreement.  Accordingly, all of the Outstanding Obligations of the Issuer incurred pursuant to the terms of the Original Note Purchase Agreement are hereby ratified and affirmed by the Issuer and remain in full force and effect and all Series 2009-1 Advances that remain unpaid on the Restatement Effective Date shall utilize the Purchase Limit of the respective Purchaser.
Section 8.15    Certain Pledges.
Notwithstanding any other provision of this Agreement to the contrary, any Purchaser may at any time pledge or grant a security interest in all or any portion of its rights (including, without limitation, any Note owned by such Purchaser and any rights to payment of principal and interest) under this Agreement and any other Transaction Document to secure obligations of such Purchaser (i) to a Federal Reserve Bank or (ii) to a collateral agent or a security trustee in connection with the funding by such Purchaser of the Note, without notice to or consent of the Issuer, any Deal Agent or any other party; provided that no such pledge or grant of a security interest shall release a Purchaser from any of its obligations hereunder, or substitute any such pledgee or grantee for such Purchaser as a party hereto.
Section 8.16    Approval of Amended and Restated Series 2009-1 Supplement and Other Amendments.
By executing this Agreement, each of the Purchasers and the Deal Agents hereby consents to the terms of (i) Amendment No. 2 to the Management Agreement, dated as the Restatement Effective Date, (ii) Amendment No. 2 to the Indenture, dated as the Restatement Effective Date and (iii) the Supplement, and all amendments effectuated to the Management Agreement, the Indenture and the Supplement by such amendments and the Supplement.  In addition, for the avoidance of doubt, by executing this Agreement, each of the Purchasers and the Deal Agents has consented to any changes to the Original Note Purchase Agreement for which their consent would have been required under clause (1) of Section 8.1 of the Original Note Purchase Agreement.

- 17 -

 In the case of any increase in the Purchase Limit pursuant to Section 2.3(b),  the Issuer and the Indenture Trustee shall be deemed to have been instructed to (and shall) execute an amendment that modifies Section 201(a) of the Supplement in order to reflect such increase.
Each of the parties hereto hereby (i) waives the requirement that notices be delivered pursuant to Section 1002 of the Indenture in connection with the Second Amended and Restated Series 2009-1 Supplement and Amendment No. 2 to the Amended and Restated Indenture dated as of the Restatement Effective Date and (ii) the Indenture Trustee may rely on such waiver.
Section 8.17    No Bankruptcy Petition Against CP Purchaser.
Notwithstanding anything contained in this Agreement or any other Series 2009-1 Transaction Document, no CP Purchaser shall have any obligation to pay any amount required to be paid by it hereunder or thereunder to its Deal Agent or to any other Person, (i) in excess of any amount available to such CP Purchaser after paying or making provision for the payment of its commercial paper or (ii) if after giving effect to such payment, such CP Purchaser could not issue commercial paper to refinance its then existing commercial paper as a result of such payment.  All payment obligations of a CP Purchaser hereunder are contingent upon the availability of funds in excess of the amounts necessary to pay commercial paper; and, each Deal Agent, each Purchaser and the Issuer agrees that it shall not have a claim under Section 101(5) of the United States Bankruptcy Code if and to the extent that any such payment obligation exceeds the amount available to a CP Purchaser to pay such amounts after paying or making provision for the payment of its commercial paper.  Each party hereto waives any right of set-off it may have or to which it may be entitled under this Agreement and the Series 2009-1 Transaction Documents with respect to such CP Purchaser and its assets.
[Signature pages follow.]

- 18 -

IN WITNESS WHEREOF, the parties have caused this Agreement to be executed as of the date first above written.
THE ISSUER:                    TAL ADVANTAGE III LLC
By: TAL International Container Corporation, its manager

By:_________________________
Name:
Title:

100 Manhattanville Road
Purchase, New York  10577-2135
Attn: 
Email: 
With a copy to:
TAL International Container Corporation
100 Manhattanville Road
Purchase, New York  10577-2135
Attn: 
Fax: 

Second A&R Series 2009-1 Note Purchase Agreement

		
	PURCHASER:
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Purchaser

By_____________________________
Name:__________________________
Title:___________________________

		
	DEAL AGENT:
	WELLS FARGO SECURITIES, LLC, as Wells Fargo Deal Agent

By_____________________________
Name:__________________________
Title:___________________________

Second A&R Series 2009-1 Note Purchase Agreement

		
	PURCHASER and DEAL AGENT:
	ABN AMRO CAPITAL USA LLC, as Purchaser and as a Deal Agent

By_____________________________
Name:__________________________
Title:___________________________

Second A&R Series 2009-1 Note Purchase Agreement

		
	PURCHASER and DEAL AGENT:
	SUNTRUST BANK, as Purchaser and as a Deal Agent

By_____________________________
Name:__________________________
Title:___________________________

Second A&R Series 2009-1 Note Purchase Agreement

		
	PURCHASER and DEAL AGENT:
	ROYAL BANK OF CANADA, as Purchaser and as a Deal Agent

By_____________________________
Name:__________________________
Title:___________________________

By_____________________________
Name:__________________________
Title:___________________________

		
	CP PURCHASER:
	WHITE POINT FUNDING, LLC

By_____________________________
Name:__________________________
Title:___________________________

Second A&R Series 2009-1 Note Purchase Agreement

		
	PURCHASER and DEAL AGENT:
	BANK OF AMERICA, N.A., as Purchaser and as a Deal Agent

By_____________________________
Name:__________________________
Title:___________________________

Second A&R Series 2009-1 Note Purchase Agreement

		
	PURCHASER and DEAL AGENT:
	NOMURA CORPORATE FUNDING AMERICAS, LLC, as Purchaser and as a Deal Agent

By_____________________________
Name:__________________________
Title:___________________________

 

Second A&R Series 2009-1 Note Purchase Agreement

		
	PURCHASER and DEAL AGENT:
	BNP PARIBAS, as Purchaser and as a Deal Agent

By_____________________________
Name:__________________________
Title:___________________________

Second A&R Series 2009-1 Note Purchase Agreement

SCHEDULE 1
CONDITIONS PRECEDENT TO RESTATEMENT EFFECTIVE DATE
As required by Section 3.1 of this Agreement, the effectiveness of this Agreement on the Restatement Effective Date shall be subject to the satisfaction or waiver of each of the conditions precedent set forth below.  Each of the following items must be delivered to the Deal Agents and/or satisfied or waived prior to the Restatement Effective Date (all capitalized terms used herein without being defined herein shall have the meaning given such terms in the Agreement).
(1)    The Notes shall have been duly authorized, executed and delivered by the Issuer and authenticated by the Indenture Trustee.
(2)    A copy of this Agreement, duly executed by the Issuer and all other parties thereto.
(3)    A certificate of the Secretary or Assistant Secretary of the Issuer dated the Restatement Effective Date, certifying (i) the names and true signatures of its respective incumbent officers authorized to sign this Agreement and the other documents to be delivered by it hereunder (on which certificate and the Purchasers may conclusively rely until such time as the Purchasers shall receive from the Issuer a revised certificate meeting the requirements of this paragraph (3)), (ii) that copies of its charter documents attached thereto are complete and correct copies and that such charter documents have not been amended, modified or supplemented and are in full force and effect, (iii) that the copy of its limited liability company agreement attached thereto is a complete and correct copy and that such limited liability company agreement has not been amended, modified or supplemented and are in full force and effect and (iv) the resolutions of its board of directors approving and authorizing the execution, delivery and performance by it of this Agreement and the documents related hereto and thereto.
(4)    Good standing certificate for the Issuer from the Secretary of State of Delaware.
(5)    Copies of the Indenture, all other Series 2009-1 Transaction Documents (other than this Agreement) Amendment No. 2 to the Management Agreement, and Amendment No. 2 to the Indenture, in form and substance satisfactory to the Purchasers, each duly executed and delivered by each party thereto.
(6)    Copies of all certificates and opinions of counsel delivered pursuant to or in connection with the execution and delivery of the other Series 2009-1 Transaction Documents, which shall be in form and content satisfactory to and each addressed to the Purchasers.
(7)    An officer’s certificate of a responsible officer of the Issuer to the effect that each of the conditions to the Purchase on the Restatement Effective Date hereunder has been satisfied.
(8)    An opinion of counsel to the Indenture Trustee as to the due organization of the Indenture Trustee, the enforceability of the Indenture and as to such other matters as the Purchasers may reasonably request.
(9)    All fees and expenses required by this Agreement and the other documents to be delivered hereunder or in connection herewith to be paid on or before the Restatement Effective Date.
(10)    An Officer’s Certificate from the Manager certifying that it is managing all of the Containers in accordance with the Management Agreement.

(11)    The Issuer shall have delivered certificates evidencing the insurance coverage described in Section 3.9 of the Management Agreement.
(12)    The Issuer shall have paid all of the fees set forth in the Fee Letters to each of the respective Deal Agents.
(13)    Each of the other conditions precedent, documents, certifications and opinions required to be satisfied or provided pursuant to the Indenture; provided that the parties hereto agree that the notices contemplated by the last paragraph of Section 1002(a) of the Indenture shall not be required to be given with respect to either the Supplement or Amendment No. 2 to the Amended and Restated Indenture dated as of the Restatement Effective Date between the Issuer and the Indenture Trustee (“Amendment No. 2 to the Amended and Restated Indenture”), and the Indenture Trustee is hereby authorized and directed to enter into (i) Amendment No. 2 to the Amended and Restated Indenture and (ii) the Supplement.

SCHEDULE 2
PURCHASE LIMITS
	
		
	Purchaser
	Purchase Limit

	 
	 

	Wells Fargo Bank, National Association
	$146,500,000.00

	SunTrust Bank
	$128,750,000.00

	ABN AMRO Capital USA LLC
	$62,250,000.00

	Royal Bank of Canada
	$122,080,000.00

	Bank of America, N.A.
	$99,170,000.00

	Nomura Corporate Funding Americas, LLC
	 $41,250,000.00

	BNP Paribas
	$50,000,000.00

EXHIBIT A
FORM OF COMPLIANCE CERTIFICATE AND FUNDING NOTICE
I, _______________________________, _______________ of TAL ADVANTAGE III LLC (the “Issuer”), hereby certify that, with respect to that certain Second Amended and Restated Series 2009-1 Note Purchase Agreement, dated as of  October 10, 2014 (the “Note Purchase Agreement”; all defined terms in the Note Purchase Agreement and the Supplement are incorporated herein by reference):
(i)    The Issuer hereby requests that a Series 2009-1 Advance be made in accordance with the following terms:
(a)    The Series 2009-1 Advance shall be in an amount equal to _______________.1    Each Series 2009-1 Advance shall be in an amount equal to $1,000,000 or an integral multiple of $100,000 in excess thereof.
(b)    The date of such Series 2009-1 Advance shall be __________________.2    At least two (2) Business Days’ notice is required from the Issuer.
(ii)    The representations and warranties contained in Section 4.1 of the Note Purchase Agreement and Article VI of the Supplement are true and correct as though made on the date hereof.
(iii)    Except as described below, no event has occurred and is continuing, or would result from any Series 2009-1 Advance occurring on the date hereof, which constitutes an Event of Default or an Early Amortization Event.
(iv)    As of the date hereof, the Aggregate Series 2009-1 Principal Balance (after giving effect to the Series 2009-1 Advance requested hereby) does not exceed the Purchase Limit of the Series 2009-1 Noteholders.  For purposes hereof, the Aggregate Series 2009-1 Principal Balance and the Purchase Limit have been re-calculated by the Issuer based upon amounts and percentages as of the date hereof (after giving effect to the Series 2009-1 Advance requested hereby).
(v)    On and as of such day, the Issuer has each performed in all material respects all of the agreements (including those set forth in Article V of the Supplement) contained in the Note Purchase Agreement and the other Series 2009-1 Transaction Documents to which it is a party to be performed by the Issuer at or prior to such day.
(vi)    The Conversion Date has not occurred.

		
	1 
	Each Series 2009-1 Advance shall be in an amount equal to $1,000,000 or an integral multiple of $100,000 in excess thereof.

2    At least two (2) Business Days’ notice is required from the Issuer.

A- 1

This certificate has been signed as of the date first above written.
	
		
	 
	TAL ADVANTAGE III LLC

	 
	By:TAL International Container
Corporation, its manager

	 
	By:
Name:
Title:

A- 2

EXHIBIT B
FORM OF ADDITION NOTICE

Each of the undersigned hereby agrees to be bound by the terms of the Note Purchase Agreement referred to below as fully as if it were a signatory thereto.
Dated:                
THE DEAL AGENTS:            [        ]
By: ___________________________
Name: __________________                
Title: ___________________                
[Address] 
Attention: _____________________                
Facsimile Number: ______________
Telephone Number: _____________

:                        [        ]
By: ___________________________
Name: __________________                
Title: ___________________                
[Address] 
Attention: _____________________                
Facsimile Number: ______________
Telephone Number: _____________

B- 1

SCHEDULE I TO ADDITION NOTICE
1.  Purchase Limit: $_____________
2.  Percent Interest: __%

B- 2

EXHIBIT C
FORM OF ASSIGNMENT AND ACCEPTANCE
Reference is made to the Second Amended and Restated Series 2009-1 Note Purchase Agreement, dated as of  October 10, 2014 (as such agreement may be amended, restated, replaced or otherwise modified from time to time, the “Agreement”), by and among TAL ADVANTAGE III LLC, as Issuer, Noteholders and other financial institutions signatory to the Agreement, the financial institutions made party thereto from time to time pursuant to an Assignment and Acceptance Agreement or an Addition Notice and listed under the heading “Purchasers” together with their respective successors and assigns (each, as designated, a “Purchaser” and collectively the “Purchasers”) and the financial institutions made party to the Agreement from time to time pursuant to an Addition Notice and listed under the heading “Deal Agents” together with their respective successors and assigns (each a “Deal Agent” and collectively the “Deal Agents”).  Terms defined in the Agreement or the Indenture referred to therein are used herein with the same meaning.
________________________________________________________(the “Assignor”) and ____________________________________________________(the “Assignee”) agree as follows:
1.    The Assignor hereby sells and assigns to the Assignee, and the Assignee hereby purchases and assumes from the Assignor, that interest in and to all of the Assignor's rights and obligations under the Agreement as of the date hereof which represents the percentage interest specified in Section 1 of Annex 1 of all outstanding rights and obligations of the Assignor under the Agreement, including, without limitations, such interest in the Assignor's Purchase Limit. After giving effect to such sale and assignment, the Assignee's and the Assignor's Purchase Limits will be as set forth in Section 2 of Annex 1.
2.    The Assignor (i) represents and warrants that it is the legal and beneficial owner of the interest being assigned by it hereunder and that such interest is free and clear of any adverse claim; and (ii) makes no representation or warranty and assumes no responsibility with respect to any statements, warranties or representation made in or in connection with the Agreement or the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Agreement or any other instrument or document furnished pursuant thereto.
3.    The Assignee (i) confirms that it has received a copy of the Agreement, together with copies of such financial statements and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Assignment and Acceptance; (ii) agrees that it will, independently and without reliance upon the Assignor or any other party to the Agreement and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking action under the Agreement; (iii) appoints and authorizes the [            ] Deal Agent each to take such action as agent on its behalf and to exercise such powers under the Agreement as are delegated to such Deal Agent, respectively, by the terms thereof, together with such powers as are reasonably incidental thereto; (iv) agrees that it will perform in accordance with their terms all of the obligations which by the terms of the Agreement are required to be performed by it as a Purchaser; and (v) as of the Transfer Date described below, makes each of the representations and warranties contained in Section 4.2 of the Agreement. The Assignee also covenants with each of [its related Deal Agent,] the Issuer and the Servicer that the Assignee will not make a public offering of the interest being assigned to and accepted by it hereby, and will not reoffer or resell such interest, in a manner that would render the issuance and sale of such interest, whether considered together with the resale or otherwise, a violation of the Securities Act of 1933, as amended, or any state securities or "Blue Sky" laws or required registration pursuant thereto.

C- 1

4.    Following the execution of this Assignment and Acceptance by the Assignor and the Assignee, it will be delivered to the Indenture Trustee for acceptance and for recording by the Indenture Trustee. The effective date of this Assignment and Acceptance (the "Transfer Date") shall be the later of the date of acceptance thereof by the Indenture Trustee unless a later date is specified in Section 3 of Annex 1.
5.    Upon such acceptance by the Indenture Trustee and upon such recording by the Indenture Trustee, as of the Transfer Date, (i) the Assignee shall be a party to the Agreement and, to the extent provided in this Assignment and Acceptance, have the rights and obligation of a Purchaser thereunder and (ii) the Assignor shall, to the extent provided in this Assignment and Acceptance, relinquish its rights and be released from its obligation under the Agreement.
6.    Upon such acceptance by the Indenture Trustee and upon such recording by the Indenture Trustee, from and after the Transfer Date, the Indenture Trustee shall make, or cause to be made, all payments under the Agreement in respect of the interest assigned hereby (including, without limitation, all payments of principal, interest and commitment fee with respect thereto) to the Assignee as follows: [payment instructions] [to the Deal Agent’s Account at ____________]. The Assignor and the Assignee shall make all appropriate adjustments in payment under the Agreement for periods prior to the Transfer Date directly between themselves.
7.    THIS ASSIGNMENT AND ACCEPTANCE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO ITS CONFLICT OF LAW PRINCIPLES (OTHER THAN SECTION 5-1401 AND SECTION 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW).
(signatures to commence on the following page)

C- 2

IN WITNESS WHEREOF, the parties hereto have caused this Assignment and Acceptance to be executed by their respective officers thereunto duly authorized, as of the date first above written.
[ASSIGNOR]

By: __________________________                
Name: 
Title:

Address for notices 
[Address]

[ASSIGNEE]

By: __________________________            
Name: 
Title:

Address for notices 
[Address]

Acknowledged and accepted 
this ____ day of _________, _____

WELLS FARGO BANK, NATIONAL ASSOCIATION, 
as Indenture Trustee and Note Registrar

By: _________________________            
Name: 
Title: 

C- 3

Annex 1 to Assignment and Acceptance
Dated __________________, ____

Section 1.

Percent Interest:

Section 2.

Assignee's Purchase Limit:        $__________________________                

Assignor's Purchase Limit
(after giving effect to assignment):    $__________________________                

Section 3.

Transfer Date:

C- 4

EXHIBIT D
FORM OF NOTICE

Each of the undersigned hereby agrees to increase its Commitment to the amount shown below under its name effective as of ________________.
Dated:                

_______________________:            [        ]
Commitment Amount:  $______________________
By:______________________
Name:     ______________________
Title: ______________________
[Address] 
Attention: ______________________
Facsimile Number: ______________________
Telephone Number: ______________________

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