Document:

TRUST AGREEMENT

 

OF

 

[ISSUER TRUST]

 

THIS TRUST AGREEMENT
is made and entered into as of [●] [●], 201[●] by and between GECB Equipment Funding, LLC, a Delaware limited
liability company, as depositor (the “Depositor”), and [●], a [●], as owner trustee (acting
hereunder not in its individual capacity but solely as the “Owner Trustee”). The Depositor and the Owner Trustee
hereby agree as follows:

 

1.          The
trust created hereby shall be known as “[Issuer Trust]” (the “Issuer”), in which name the Owner
Trustee may conduct the business of the Issuer, make and execute contracts, and sue and be sued.

 

2.          The
Depositor hereby assigns, transfers, conveys and sets over to the Owner Trustee the sum of $1.00. The Owner Trustee hereby acknowledges
receipt of such amount in trust from the Depositor, which amount shall constitute the initial trust estate. The Owner Trustee hereby
declares that it will hold the trust estate in trust for the Depositor. It is the intention of the parties hereto that the trust
created hereby constitute a statutory trust under Chapter 38 of Title 12 of the Delaware Code, 12 Del. Code §3801
et seq. and that this document constitute the governing instrument of the Issuer. The Owner Trustee is hereby authorized
and directed to execute and file a certificate of trust with the Delaware Secretary of State substantially in the form attached
hereto as Exhibit A.

 

3.          The
Depositor and the Owner Trustee will enter into an amended and restated Trust Agreement in form and substance satisfactory to each
such party to provide for, among other things, the contemplated operation of the Issuer. Prior to the execution and delivery of
such an amended and restated Trust Agreement, (i) the Depositor is hereby authorized and empowered to take, and shall take any
and all action as may be necessary, appropriate or convenient, prior to such execution and delivery, including but not limited
to, executing any licenses, consents, approvals or filings on behalf of the Issuer, to effect the purposes of the Issuer or as
may be required by applicable law or otherwise and (ii) the Owner Trustee shall not have any duty or obligation hereunder or with
respect to the Issuer or the trust estate, except as expressly set forth herein; provided, however, that the Owner
Trustee shall not be required to take any action (a) if the Owner Trustee shall determine, or shall be advised by counsel, that
such action is likely to result in personal liability or is contrary to applicable law or any agreement to which the Owner Trustee
is a party and (b) unless the Owner Trustee has been provided indemnity satisfactory to it in its sole discretion. Notwithstanding
the foregoing, the Owner Trustee shall have the power and authority, and is hereby authorized and empowered, in the name and on
behalf of the Issuer, to take all actions necessary, appropriate, or convenient to effect the transactions contemplated herein,
including but not limited to, executing such licenses, consents or approvals as are presented to the Owner Trustee by the Depositor
in execution form.

 

Trust
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4.          (a)          Except
as otherwise expressly required by Section 3 of this Trust Agreement, the Owner Trustee shall not have any duty or liability
with respect to the administration of the Issuer, the investment of the Issuer’s property or the payment of dividends or
other distributions of income or principal to the Issuer’s beneficiaries, and no implied obligations shall be inferred from
this Trust Agreement on the part of the Owner Trustee. The Owner Trustee shall not be liable for the acts or omissions of the Depositor
or any other person who acts on behalf of the Issuer nor shall the Owner Trustee be liable for any act or omission by it in good
faith in accordance with the directions of the Depositor.

 

(b)          The
Owner Trustee accepts the trusts hereby created and agrees to perform its duties hereunder with respect to the same but only upon
the terms of this Trust Agreement. The Owner Trustee shall not be personally liable under any circumstances, except for its own
willful misconduct or gross negligence. In particular, but not by way of limitation:

 

(i)          The
Owner Trustee shall not be personally liable for any error of judgment made in good faith and in the absence of gross negligence
by an officer or employee of the Owner Trustee;

 

(ii)         No
provision of this Trust Agreement shall require the Owner Trustee to expend or risk its personal funds or otherwise incur any financial
liability in the performance of its rights or duties hereunder, if the Owner Trustee shall have reasonable grounds for believing
that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured or provided to it;

 

(iii)        Under
no circumstance shall the Owner Trustee be personally liable for any representation, warranty, covenant or indebtedness of the
Issuer;

 

(iv)        The
Owner Trustee shall not be personally responsible for or in respect of the genuineness, form or value of the Issuer property, the
validity or sufficiency of this Trust Agreement or the due execution hereof by the Depositor;

 

(v)         In
the event that the Owner Trustee is unsure of the course of action to be taken by it hereunder, the Owner Trustee may request instructions
from the Depositor and to the extent the Owner Trustee follows such instructions in good faith it shall not be liable to any person.
In the event that no instructions are provided within the time requested by the Owner Trustee, it shall have no duty or liability
for its failure to take any action or for any action it takes in good faith;

 

(vi)        All
funds deposited with the Owner Trustee hereunder may be held in a non-interest bearing trust account and the Owner Trustee shall
not be liable for any interest thereon or for any loss as a result of the investment thereof at the direction of the Depositor;
and

 

(vii)       To
the extent that, at law or in equity, the Owner Trustee has duties (including fiduciary duties) and liabilities relating thereto
to the Depositor or the Issuer, the Depositor agrees that such duties (including fiduciary duties) and liabilities are eliminated
and replaced by the terms of this Trust Agreement.

 

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(c)          The
Owner Trustee shall incur no liability to anyone in acting upon any document reasonably believed by it to be genuine and reasonably
believed by it to be signed by the proper party or parties. The Owner Trustee may accept a certified copy of a resolution of the
board of directors or other governing body of any corporate party as conclusive evidence that such resolution has been duly adopted
by such body and that the same is in full force and effect. As to any fact or matter the manner of ascertainment of which is not
specifically prescribed herein, the Owner Trustee may for all purposes hereof rely on a certificate, signed by the Depositor, as
to such fact or matter, and such certificate shall constitute full protection to the Owner Trustee for any action taken or omitted
to be taken by it in good faith in reliance thereon.

 

(d)          In
the exercise or administration of the trusts hereunder, the Owner Trustee (i) may act directly or, at the expense of the Issuer,
through agents or attorneys, and the Owner Trustee shall not be liable for the default or misconduct of such agents or attorneys
if such agents or attorneys shall have been selected by the Owner Trustee in good faith and in the absence of gross negligence,
and (ii) may, at the expense of the Issuer, consult with counsel, accountants and other experts, and it shall not be liable for
anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants
or other experts.

 

(e)          Notwithstanding
anything contained herein to the contrary, neither [●] nor the Owner Trustee shall be required to take any action in any
jurisdiction other than the State of Delaware if the taking of such action will (i) require the consent or approval or authorization
or order of or the giving of notice to, or the registration with or the taking of any other action in respect of, any state or
other governmental authority or agency of any jurisdiction other than the State of Delaware, (ii) result in any fee, tax or other
governmental charge under the laws of any jurisdiction or any political subdivision thereof in existence becoming payable by [●],
or (iii) subject [●] to personal jurisdiction in any jurisdiction other than the State of Delaware for causes of action arising
from acts unrelated to the consummation of the transactions by [●] or the Owner Trustee, as the case may be, contemplated
hereby.

 

(f)          Except
as expressly provided in this Section 4, in accepting and performing the trusts hereby created, the Owner Trustee acts solely
as Owner Trustee hereunder and not in its individual capacity, and all persons having any claim against the Owner Trustee by reason
of the transactions contemplated by this Trust Agreement shall look only to the Issuer’s property for payment or satisfaction
thereof.

 

5.          The
Depositor shall (i) compensate the Owner Trustee in accordance with a separate fee agreement with the Owner Trustee, (ii) reimburse
the Owner Trustee for all reasonable expenses (including reasonable fees and expenses of counsel and other experts) and (iii) indemnify,
defend and hold harmless the Owner Trustee and any of the officers, directors, employees and agents of the Owner Trustee (the “Indemnified
Persons”) from and against any and all losses, damages, liabilities, claims, actions, suits, costs, expenses, disbursements
(including the reasonable fees and expenses of counsel), taxes and penalties of any kind and nature whatsoever (collectively, “Expenses”),
to the extent that such Expenses arise out of or are imposed upon or asserted at any time against such Indemnified Persons with
respect to the performance of this Trust Agreement, the creation, operation or termination of the Issuer or the transactions contemplated
hereby; provided, however, that the Depositor shall not be required to indemnify any Indemnified Person (i) for any Expenses
which are a result of the willful misconduct, bad faith or gross negligence of such Indemnified Person or (ii) for any Expenses
measured by or related to net income based on compensation of the Owner Trustee for its services hereunder. The obligations of
the Depositor under this Section 5 shall survive the resignation or removal of the Owner Trustee, shall survive the termination,
amendment, supplement, and/or restatement of this Trust Agreement, and shall survive the transfer by the Depositor of any or all
of its interest in the Issuer.

 

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6.          The
Owner Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor.
If no successor has been appointed within thirty days after the giving of notice, the Owner Trustee may, at the expense of the
Issuer, petition a court of competent jurisdiction to appoint a successor trustee.

 

7.          Upon
and in accordance with written instructions from the Depositor, the Owner Trustee shall dissolve, wind-up and terminate the Issuer
and file in accordance with 12 Del. Code §3810 a certificate of cancellation of the certificate of trust.

 

8.          The
Owner Trustee agrees that it shall not, prior to one year and one day after the payment in full of all securities issued by any
trust formed by the Depositor (including, without limitation, the Issuer), acquiesce in, petition for or otherwise cause the commencement
by the United States of America or any other governmental, executive, legislative, judicial, regulatory or administrative entity
of a case by or against the Depositor under a Federal or state bankruptcy, insolvency or similar law or appointing a receiver,
liquidator, assignee, trustee, custodian, sequestrator or other similar official of the Depositor or all or any part of its property
or assets or ordering the winding up or liquidation of the affairs of the Depositor.

 

9.          This
Trust Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, without reference to its
conflict of law provisions, and the obligations, rights and remedies of the parties hereunder shall be determined in accordance
with such laws.

 

10.         This
Trust Agreement may be executed in one or more counterparts, each of which when so executed shall be an original and all of which
when taken together shall constitute but one and the same instrument.

 

[SIGNATURE PAGE FOLLOWS]

 

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

 

	 	GECB Equipment Funding, LLC,
	 	as Depositor
	 	 
	 	By:	 
	 	Name:
	 	Title:

 

    	 	S-1	Trust
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	 	[●],
	 	as Owner Trustee
	 	 
	 	By:	 
	 	Name:
	 	Title:

 

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Exhibit A

 

FORM OF CERTIFICATE OF TRUST

 

OF

 

[ISSUER TRUST]

 

THIS CERTIFICATE OF
TRUST of [Issuer Trust] (the “Trust”) is being duly executed and filed on behalf of the Trust by the undersigned,
as owner trustee, to form a statutory trust under the Delaware Statutory Trust Act (12 Del. Code §3801 et.
seq.) (the “Act”).

 

1.          Name.
The name of the statutory trust formed hereby is “[Issuer Trust]”.

 

2.          Delaware
Trustee. The name and business address of the trustee of the Trust having its principal place of business in the State of Delaware
are [●], [●].

 

3.          Effective
Date. This Certificate of Trust shall be effective upon filing.

 

IN WITNESS WHEREOF,
the undersigned has duly executed this Certificate of Trust in accordance with Section 3811(a)(1) of the Act.

 

	 	[●],
	 	not in its individual capacity
	 	but solely as owner trustee
	 	 
	 	By:	 
	 	Name:
	 	Title:

 

    	 	Exhibit A-1	Trust AgreementLIMITED LIABILITY COMPANY AGREEMENT

 

OF

 

[●]

 

(A DELAWARE LIMITED LIABILITY COMPANY)

 

Dated as of [●] [●], 201[●]

 

    	 	 	Issuer
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[●]

 

LIMITED LIABILITY COMPANY
AGREEMENT dated as of [●] [●], 201[●], adopted by GECB Equipment Funding, LLC, as a member (the “Initial
Member”).

 

Preliminary Statement

 

The Initial Member desires
to form a limited liability company under the Delaware Limited Liability Company Act (currently Chapter 18 of Title 6 of the Delaware
Code), as amended from time to time (the “Act”).

 

Accordingly, the Initial
Member hereby adopts the following as the “Limited Liability Company Agreement” of the Company within the meaning
of Section 18-101(7) of the Act.

 

ARTICLE
I

 

Section
1.1 Definitions. Capitalized terms used in this Agreement and not otherwise defined herein shall have the meanings
assigned to such terms in the “Definitions Addendum” attached to this Agreement and incorporated herein and
shall otherwise have the meanings assigned to such terms in the Act.

 

ARTICLE
II

 

Section
2.1 Formation. The Company was formed as a limited liability company pursuant to the provisions of the Act on [●]
[●], 201[●] by the filing of the Certificate of Formation, substantially in the form of Exhibit A, with
the office of the Secretary of State of Delaware. The Initial Member hereby adopts, confirms and ratifies said Certificate of Formation
and all acts taken in connection therewith. [●] is hereby designated as an “authorized person” within the meaning
of the Act, and has executed, delivered and filed the Certificate of Formation of the Company with the Secretary of State of the
State of Delaware. Upon the filing of the Certificate of Formation with the Secretary of State of the State of Delaware, his powers
as an “authorized person” ceased, and the Member thereupon became the designated “authorized person” and
shall continue as the designated “authorized person” within the meaning of the Act. The Member shall execute, deliver
and file any other certificates (and any amendments and/or restatements thereof) necessary for the Company to qualify to do
business in any other jurisdiction in which the Company may wish to conduct business. The existence of the Company as a separate
legal entity shall continue until cancellation of the Certificate of Formation as provided in the Act.

 

    	 	 	Issuer
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ARTICLE
III

 

Section
3.1 Name. The name of the Company is [●].

 

ARTICLE
IV

 

Section
4.1 Purpose and Limitations on Activities. The Company shall limit its purposes and activities to (i) the issuance
and sale of Membership Interests, on the terms and conditions set forth herein; (ii) acquiring (through purchase or otherwise)
from GECB Equipment Funding, LLC or any of its subsidiaries or affiliates (collectively, the “Seller”), holding,
servicing, transferring and pledging equipment loan and lease receivables, the related equipment and any related rights, documents,
assets, and interests (“Assets”); (iii) entering into any agreement providing for the acquisition, sale, financing,
servicing, managing, hedging or transfer of the Assets or interests in the Assets; (iv) retaining or reacquiring an interest in
the Assets; (v) lending or otherwise investing proceeds from Assets and any other income; and (vi) any purposes and activities
necessary, convenient or incidental to the conduct, promotion or attainment of the business purposes and activities of the Company
as set forth in clauses (i) through (v) above; provided, that, in connection with the permitted activities
specified above, the purpose and activities of the Company shall be further limited as follows:

 

(vii) the servicing
and the managing of assets held by the Company shall be conducted in a manner that is consistent with the servicing agreement to
which the Company shall become a party coincident with the initial transfer of assets from the Seller (the “Servicing
Agreement”);

 

(viii) the Company
may sell or assign assets only as specified in the Servicing Agreement; and

 

(ix) the Company may
enter into derivative contracts or hedges that have the following characteristics: (a) are interest rate swap arrangements, (b)
have a fair value at inception of zero, and (c) commence on a date within two (2) days of the effective date of the receipt by
the Company of assets transferred to it from the Seller.

 

Section
4.2 Authority. The Company, by or through the Member, or any Manager on behalf of the Company, may enter into and
perform under the Indenture, Transaction Documents and all documents, agreements, certificates, or financing statements contemplated
thereby or related thereto, together with any amendments or supplements thereto, all without any further act, vote or approval
of any other Person notwithstanding any other provision of this Agreement, the Act or applicable law, rule or regulation. The foregoing
authorization shall not be deemed a restriction on the powers of any Member or any Manager to enter into other agreements on behalf
of the Company.

 

ARTICLE
V

 

Section
5.1 Registered Office; Other Offices. The address of the registered office of the Company in the State of Delaware
is c/o [●], [●]. The Manager may establish other offices of the Company at such locations within or outside the
State of Delaware as the Initial Member may determine.

 

ARTICLE
VI

 

Section
6.1 Registered Agent. The name and address of the registered agent of the Company for service of process on the Company
in the State of Delaware is [●], [●].

 

    	 	2	Issuer
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ARTICLE
VII

 

Section
7.1 Admission of Members. (a) By execution of this Agreement, the Initial Member is hereby admitted as a Member of
the Company and shall have a Membership Interest in the Company including, without limitation, such rights in and to the profits
and losses of the Company and rights to receive distributions of the Company’s assets, and such other rights and obligations,
as provided herein.

 

(b)          Without the consent
of any Member or other Person, the Manager may cause the Company to issue additional Membership Interests and thereby admit a new
Member or new Members, as the case may be, to the Company, only if such new Member (i) has delivered to the Initial Member its
capital contribution, (ii) has agreed in writing to be bound by the terms of this Agreement by becoming a party hereto and (iii)
has delivered such additional documentation as the Initial Member shall reasonably require to so admit such new Member to the Company.

 

Section
7.2 Initial Member. The name and the address of the Initial Member of the Company is as follows:

 

GECB Equipment Funding, LLC

6510 Millrock Drive

Suite 200

Salt Lake City, Utah 84121

 

ARTICLE
VIII

 

Section
8.1 Management. Subject to Section 16.1, management of the Company is initially vested in the Initial Member.
The Initial Member shall be a “manager” within the meaning of the Act (a “Manager”) until such time
as the Initial Member appoints one or more Managers to replace the Initial Member in its capacity as manager of the Company. Each
Manager shall perform duties, on behalf of the Company as Manager as set forth in this Agreement and in the Act and may enter into
contracts with Persons on behalf of the Company and engage in activities on behalf of the Company, including issuing, delivering
and executing contracts, agreements and other documents in connection therewith, in each case in accordance with Section 4.1.

 

Section
8.2 Managers to Provide Information to the Initial Member. It shall be the duty of each Manager, to keep the Initial
Member reasonably informed as to material events relating to the Company, including, without limitation, all claims pending or
threatened against the Company and the execution by such Manager on behalf of the Company of any material agreements or instruments.

 

Section
8.3 Accounting and Tax Reports; Tax Matters. The Manager shall: (i) maintain (or cause to be maintained) the
books of the Company on a calendar year basis on the accrual method of accounting, (ii) deliver to each Member, as may be required
by the Code and applicable Treasury Regulations, such information as may be required to enable each Member to prepare its federal,
state and local income tax returns, (iii) file such tax returns relating to the Company, and make such elections as may from time
to time be required or appropriate under any applicable state or federal statute or rule or regulation thereunder so as to prevent
the Company from being characterized as an entity treated as a corporation under Section 301.7701-3 of the Treasury Regulations
for federal income tax purposes, (iv) cause such tax returns to be signed in the manner required by law and (v) collect or cause
to be collected any withholding tax with respect to income or distributions to Members.

 

    	 	3	Issuer
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ARTICLE
IX

 

Section
9.1 Initial Capital Contributions. The initial cash capital contribution to be made by the Initial Member promptly
hereafter is $10,000.

 

ARTICLE
X

 

Section
10.1 Additional Contributions. The Members shall have no obligation to make any additional capital contribution to
the Company after the date hereof, but the Initial Member may elect to do so from time to time.

 

ARTICLE
XI

 

Section
11.1 Distributions. Distributions shall be made to the Members at the times and in the aggregate amounts determined
by the Manager, subject to the limitations of the Act or other applicable laws.

 

Section
11.2 Distribution upon Withdrawal. Upon withdrawal, any withdrawing Member shall not be entitled to receive any distribution
and shall not otherwise be entitled to receive the fair market value of its Membership Interest.

 

ARTICLE
XII

 

Section
12.1 Transfers. (a) A Member other than the Initial Member may not Transfer any part of its Membership Interest without
(i) the prior written consent of the Initial Member, such consent not to be unreasonably withheld, and (ii) an opinion of
a nationally recognized tax counsel experienced in such matters to the effect that such transfer will not cause the Company to
be treated as a publicly traded partnership within the meaning of Section 7704 of the Code. Any purported Transfer of any Membership
Interest in contravention of this Section 12.1 shall, to the fullest extent permitted by law, be null and void and
of no force or effect whatsoever. No purchase or transfer of a Membership Interest shall be made by or to a Benefit Plan Investor,
no purchase or transfer of a Membership Interest by or to a Benefit Plan Investor will be effective, and neither the Company nor
the Initial Member will recognize any such purchase or transfer. In addition, no purchase or transfer will be effective if it would
cause the Company to (x) be classified as an association (or publicly traded partnership) taxable as a corporation for U.S.
federal income tax purposes or (y) be required to withhold on the transferee’s distributions or distributive shares
of income under Sections 871, 881 or 1446 of the Code, and neither the Manager nor the Company will recognize any purchase or transfer
giving rise to such classification or withholding.

 

    	 	4	Issuer
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(b)          The Initial Member
shall admit a transferee of a Member’s Membership Interest to the Company only if such transferee (i) has agreed in writing
to be bound by the terms of this Agreement by becoming a party hereto and (ii) has delivered such additional documentation as the
Initial Member shall reasonably require to so admit such transferee to the Company. Notwithstanding anything contained herein to
the contrary, both the Company and the Initial Member shall be entitled to treat the transferee of a Membership Interest as the
absolute owner thereof in all respects, and shall incur no liability for distributions of cash or other property made in good faith
to it, until such time as a written assignment or other evidence of the consummation of a Transfer that conforms to the requirements
of this Section 12.1 and is reasonably satisfactory to the Initial Member has been received by the Company. The effective
date of any Transfer permitted under this Agreement shall be the close of business on the day of receipt thereof by the Company.

 

Section
12.2 Restrictions on Expulsion. No Member shall be expelled as a Member under any circumstances.

 

ARTICLE
XIII

 

Section
13.1 Liability of Members. Except as required by the Act, no Member or any Manager, agent, shareholder, director,
employee or incorporator of any Member solely by reason of its capacity as such will be liable for the debts, obligations and liabilities
of the Company, whether arising in contract, tort or otherwise, which debts, obligations and liabilities shall be solely the debts,
obligations and liabilities of the Company or such other Member, as applicable.

 

ARTICLE
XIV

 

Section
14.1 Exculpation and Indemnification of Members and Managers. (a) No Indemnified Party shall be liable
to the Company or any Member for any loss, damage or claim incurred by reason of any act performed or any act omitted by such
Indemnified Party in connection with any matter arising from, or related to, or in connection with this Agreement or the Company’s
business or affairs; provided, however, that the foregoing shall not eliminate or limit the liability of any Indemnified
Party if a judgment or other final adjudication adverse to the Indemnified Party establishes (i) that the Indemnified Party’s
acts or omissions were in bad faith or involved intentional misconduct or a knowing violation of law or (ii) that the Indemnified
Party personally gained in fact a financial profit or other advantage to which the Indemnified Party was not legally entitled.

 

(b)          The Company shall,
to the fullest extent permitted by the Act, indemnify and hold harmless, and advance expenses to, each Indemnified Party against
any losses, claims, damages or liabilities to which the Indemnified Party may become subject in connection with any matter arising
from, related to, or in connection with, this Agreement or the Company’s business or affairs; provided, however,
that no indemnification may be made to or on behalf of any Indemnified Party (and expenses advanced shall be returned) if a judgment
or other final adjudication adverse to the Indemnified Party establishes (i) that the Indemnified Party’s acts or omissions
were committed in bad faith or involved intentional misconduct as a knowing violation of law or (ii) that the Indemnified
Party personally gained in fact a financial profit or other advantage to which the Indemnified Party was not legally entitled.

 

    	 	5	Issuer
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(c)        Notwithstanding
anything else contained in this Agreement, the indemnity obligations of the Company under paragraph (b) above shall:

 

(i)          be in
addition to any liability that the Company may otherwise have;

 

(ii)          inure
to the benefit of the successors, assigns, heirs and personal representatives of each Indemnified Party; and

 

(iii)          be
limited to the assets of the Company.

 

(d)        This Article
XIV shall survive any termination of this Agreement and the dissolution of the Company.

 

ARTICLE
XV

 

Section
15.1 Duration and Dissolution. The Company shall be dissolved and its affairs shall be wound up upon the affirmative
vote or written consent of the Initial Member or as otherwise required by the Act.

 

ARTICLE
XVI

 

Section
16.1 Bankruptcy. Except by the unanimous consent of all Members, and Managers, the Company shall not file a voluntary
petition in bankruptcy or otherwise seek relief under Title 11 of the United States Code or any successor statute thereto, or under
any similar applicable state law.

 

Section
16.2 Amendments. (a) Except as is otherwise set forth in clause (b) below, this Agreement may be amended
only if all the Members execute and deliver a written instrument with respect to such modification, alteration, supplement or amendment;
provided, that so long as any rated debt obligation of the Company is outstanding, the Rating Agency Condition is satisfied.

 

(b)        This Agreement
may be modified, altered, supplemented or amended without satisfying the requirement of clause (a) above (i) to cure any ambiguity
or (ii) to convert or supplement any provision herein in a manner consistent with the intent of this Agreement and other Transaction
Documents.

 

Section
16.3 Headings. The titles of Sections of this Agreement are for convenience or reference only and shall not define
or limit any of the provisions of this Agreement.

 

Section
16.4 GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF
THE STATE OF DELAWARE, WITHOUT GIVING EFFECT TO CONFLICTS OF LAW PRINCIPLES THEREOF.

 

    	 	6	Issuer
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Section
16.5 Severability of Provisions. Each provision of this Agreement shall be considered severable and if for any reason
any provision or provisions herein are determined to be invalid, unenforceable or illegal under any existing or future law, such
invalidity, unenforceability or illegality shall not impair the operation of or affect those portions of this Agreement which are
valid, enforceable and legal.

 

Section
16.6 Further Assurances. The Initial Member shall execute and deliver such further instruments and do such further
acts and things as may be required to carry out the intent and purposes of this Agreement.

 

Section
16.7 Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed an
original of this Agreement. Executed counterparts may be delivered electronically.

 

Section
16.8 Assignment; Third Party Beneficiaries. The parties hereto acknowledge and agree that the rights of the Company
under this Agreement may be pledged from time to time by the Company to creditors of the Company to secure the Company’s
obligations to such creditors. Nothing in this Agreement whether express or implied, shall be construed to give to any other Person
(other than a party hereto or an Indemnified Party) any legal or equitable right, remedy or claim under or in respect of this
Agreement or any covenants, conditions or provisions contained herein.

 

Section
16.9 Effectiveness. Notwithstanding any other provision of this Agreement, each Member agrees that this Agreement
constitutes a legal, valid and binding agreement of such Member, and is enforceable against such Member, in accordance with its
terms.

 

[Signature Follows]

  

    	 	7	Issuer
                                                                                                                                                                                                                                                                                                                                                                                 LLC
                                                                                                                                                                                                                                                                                                                                                                                 Agreement

    	 

    

 

IN WITNESS WHEREOF, the
undersigned, intending to be legally bound hereby, has duly executed this Agreement as of the date first above written.

 

	 	GECB Equipment Funding, LLC, 
	 	as Initial Member
	 	 
	 	By:	 
	 	Name:
	 	Title:

 

    	 	S-1	Issuer
                                                                                                                                                                                                                                                                                                                                                                                   LLC
                                                                                                                                                                                                                                                                                                                                                                                   Agreement

    	 

    

 

DEFINITIONS ADDENDUM 

TO THE 

LIMITED LIABILITY COMPANY AGREEMENT

 

“Act”
is defined in the Preliminary Statement.

 

“Affiliate”
means, with respect to any Person, any Person or group of Persons acting in concert in respect of the Person in question that,
directly or indirectly, controls or is controlled by or is under common control with such Person. For the purposes of this definition,
“control” (including, with correlative meaning, the terms “controlled by” and “under common control
with”) as used with respect to any Person or group of Persons, shall mean the power to direct or cause the direction of the
management and policies of such Person, whether through the ownership of voting securities, by contract or otherwise.

 

“Agreement”
means this Limited Liability Company Agreement, as amended from time to time.

 

“Assets”
is defined in Section 4.1.

 

“Benefit Plan
Investor” means an “employee benefit plan” within the meaning of Section 3(3) of ERISA (which is subject
to Title I of ERISA), a “plan” described in Section 4975(e)(1) of the Code (which is subject to Section 4975 of
the Code), or any entity deemed to hold “plan assets” of any of the foregoing by reason of investment by an “employee
benefit plan” or “plan” in the entity.

 

“Business Day”
means any day that is not a Saturday, Sunday or a day on which banks are required or permitted to be closed in the State of New
York or the State of Connecticut.

 

“Certificate
of Formation” means the Certificate of Formation of the Company, as filed with the Secretary of State of the State
of Delaware on [●] [●], 201[●], or as amended, restated and supplemented, from time to time.

 

“Code”
means the Internal Revenue Code of 1986, as amended from time to time, and Treasury Regulations promulgated thereunder.

 

“Company”
means [●], a Delaware limited liability company.

 

“Distribution
Date” means the 22nd day of each calendar month, or, if such day is not a Business Day, the next Business Day, commencing
on [●] [●], 201[●].

 

“ERISA”
means the Employee Retirement Income Security Act of 1974, as amended from time to time and any regulations promulgated thereunder.

 

    	 	 	Issuer
                                                                                                                                                                                                                                                                                                         LLC
                                                                                                                                                                                                                                                                                                         Agreement

    	 

    

 

“Indemnified
Party” means a Member, Manager, employee, organizer or agent of the Company or any officer, agent, shareholder, director,
employee or incorporator of the Initial Member.

 

“Indenture”
means the Indenture, dated [●] [●], 201[●], between the Company and the Indenture Trustee, as the same may be
amended and supplemented from time to time.

 

“Indenture Trustee”
means [●], not in its individual capacity but solely as indenture trustee under the Indenture, or any successor indenture
trustee under the Indenture.

 

“Initial Member”
has the meaning assigned in the preamble.

 

“Manager”
is defined in Section 8.1.

 

“Member”
means the Initial Member and any Person that is admitted as a member of the Company, in each case for so long as such Person continues
to be a member of the Company, in such Person’s capacity as a member of the Company.

 

“Membership
Interest” means the entire limited liability company interest of a Member in the Company at any particular time, including
the right of a Member to any and all benefits to which a Member may be entitled as provided in this Agreement, together with the
obligations of such Member to comply with all the terms and provisions of this Agreement. A Membership Interest may be represented
by a certificate.

 

“Person”
means an individual, partnership, corporation, trust (including a business trust), limited liability company, joint stock company,
association, joint venture, government or any agency or political subdivision thereof or any other entity of whatever nature.

 

“Rating Agency
Condition” means, for so long as such entity is rating any class of notes issued by the Company, with respect to any
action, that [(i) Moody’s Investors Service, Inc. shall have been given at least 10 Business Days’ prior notice thereof
and shall have not notified the Company and the Indenture Trustee that such action will result in a reduction or withdrawal of
the then current rating of any class of the notes, and (ii) Fitch Inc. shall have been given at least 10 Business Days’
prior notice thereof].

 

“Seller”
is defined in Section 4.1.

 

“Servicing Agreement”
means the Servicing Agreement, dated as of [●] [●], 201[●], between the Company and General Electric Capital
Corporation, as servicer.

 

“Transaction
Documents” means this Agreement, the Related Documents as defined in the Indenture and all documents and certificates
contemplated thereby or delivered in connection therewith.

 

“Transfer”
means, (i) as a noun, any transfer, sale, assignment, exchange, charge, pledge, gift, hypothecation, conveyance, encumbrance
or other disposition whether direct or indirect, voluntary or involuntary, by operation of law or otherwise and, (ii) as a
verb, directly or indirectly, voluntarily or involuntarily, by operation of law or otherwise, to transfer, sell, assign, exchange,
charge, pledge, give, hypothecate, convey, encumber or otherwise dispose of.

  

“Treasury Regulations”
means regulations, including proposed or temporary regulations, promulgated under the Code.

 

    	 	2	Issuer
                                                                                                                                                                                                                                                                                                                                                                                 LLC
                                                                                                                                                                                                                                                                                                                                                                                 Agreement

    	 

    

 

EXHIBIT A

 

CERTIFICATE OF FORMATION

OF

[●]

 

This Certificate of
Formation of [●], dated as of [●] [●], 201[●], has been duly executed and is being filed by [●],
as an authorized person, to form a limited liability company under the Delaware Limited Liability Company Act (6 Del.C.§18-101,
et seq.).

 

		1.	The name of the limited liability company [●] (the “LLC”).

 

		2.	The address of the registered office of the LLC in the State of Delaware is [●]. The name
of the registered agent of the LLC at such address is [●].

 

		3.	This Certificate of Formation shall be effective as of its filing.

 

IN WITNESS WHEREOF,
the undersigned has executed this Certificate of Formation of the LLC this [●] day of [●], 201[●].

 

	 	By:	 
	 	Name:	[●]
	 	Title:	Authorized Person

 

    	 	A-1	Issuer LLC Agreement

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