Document:

EX-10.3

 Exhibit 10.3 
 EXECUTION COPY 
  

 
  

NAVISTAR FINANCIAL DEALER NOTE MASTER OWNER TRUST II 
 as Issuing Entity 
 and 

CITIBANK, N.A. 
 as Indenture Trustee 
 SERIES 2013-1 INDENTURE SUPPLEMENT 

dated as of February 14, 2013 
 to 
 INDENTURE 

dated as of November 2, 2011 
  

 
  

 TABLE OF CONTENTS 

 

									
		  	 	Page	  
	ARTICLE I Definitions and Other Provisions of General Application	  	 	1	  
		 	Section 1.01	  	Definitions	  	 	1	  
		
	ARTICLE II The Notes	  	 	18	  
		 	Section 2.01	  	Creation and Designation	  	 	18	  
		 	Section 2.02	  	Form of Delivery; Depository; Denominations	  	 	18	  
		 	Section 2.03	  	Delivery and Payment	  	 	19	  
		 	Section 2.04	  	Reopening	  	 	19	  
		
	ARTICLE III Allocations, Deposits and Payments	  	 	19	  
		 	Section 3.01	  	Series 2013-1 Available Interest Amounts	  	 	19	  
		 	Section 3.02	  	Series 2013-1 Available Principal Amounts	  	 	23	  
		 	Section 3.03	  	Reductions and Reinstatements	  	 	24	  
		 	Section 3.04	  	Payment on the Series 2013-1 Notes.	  	 	27	  
		 	Section 3.05	  	Accumulation Period Length and Accumulation Period Commencement Date	  	 	28	  
		 	Section 3.06	  	Final Payment of the Series 2013-1 Notes	  	 	29	  
		 	Section 3.07	  	Netting of Deposits and Payments	  	 	29	  
		 	Section 3.08	  	Calculation Agent; Determination of LIBOR	  	 	29	  
		 	Section 3.09	  	Computation of Interest	  	 	30	  
		 	Section 3.10	  	Accounts	  	 	30	  
		 	Section 3.11	  	Spread Account.	  	 	31	  
		 	Section 3.12	  	Negative Carry Account	  	 	31	  
		 	Section 3.13	  	Principal Funding Account	  	 	32	  
		 	Section 3.14	  	Reports and Statements to Series 2013-1 Noteholders.	  	 	33	  
		
	ARTICLE IV MISCELLANEOUS PROVISIONS	  	 	33	  
		 	Section 4.01	  	Ratification of Indenture	  	 	33	  
		 	Section 4.02	  	Counterparts	  	 	33	  
		 	Section 4.03	  	Governing Law	  	 	33	  
		 	Section 4.04	  	Limitation of Owner Trustee Liability	  	 	34	  
		 	Section 4.05	  	No Registration of the Series 2013-1 Notes under the Securities Act	  	 	34	  
		 	Section 4.06	  	Consent to Amendments in Backup Servicing Agreement	  	 	39	  
		 	Section 4.07	  	Amendments	  	 	39	  

  
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 EXHIBITS 
  

			
		
	 EXHIBIT A-1
	  	FORM OF SERIES 2013-1 NOTE, CLASS A
		
	 EXHIBIT A-2
	  	FORM OF SERIES 2013-1 NOTE, CLASS B
		
	 EXHIBIT A-3
	  	FORM OF SERIES 2013-1 NOTE, CLASS C
		
	 EXHIBIT A-4
	  	FORM OF SERIES 2013-1 NOTE, CLASS D
		
	 EXHIBIT B
	  	FORM OF MONTHLY SERVICER AND SETTLEMENT CERTIFICATE

  
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 This SERIES 2013-1 INDENTURE SUPPLEMENT (this “Indenture Supplement”), by
and between NAVISTAR FINANCIAL DEALER NOTE MASTER OWNER TRUST II, a statutory trust created under the laws of the State of Delaware (the “Issuing Entity”), and CITIBANK, N.A., a national banking association, as Indenture Trustee, is
made and entered into as of February 14, 2013. 
 Pursuant to this Indenture Supplement, the Issuing Entity shall create a
new Series of Notes and shall specify the principal terms thereof. 
 ARTICLE I 

Definitions and Other Provisions of General Application 
 Section 1.01 Definitions. 
 For all purposes of this Indenture Supplement,
except as otherwise expressly provided or unless the context otherwise requires: 
 (1) the capitalized terms used in this
Indenture Supplement shall have the meanings assigned to them in this Article, and include the plural as well as the singular; 

(2) all other capitalized terms used but not defined herein which are defined in Part I of Appendix A to the Pooling and
Servicing Agreement, either directly or by reference therein, have the meanings assigned to them therein; 
 (3) all accounting
terms not otherwise defined herein have the meanings assigned to them in accordance with generally accepted accounting principles and, except as otherwise herein expressly provided, the term “generally accepted accounting
principles” with respect to any computation required or permitted hereunder means such accounting principles as are generally accepted in the United States of America at the date of such computation; 

(4) all references in this Indenture Supplement to designated “Articles,” “Sections” and other
subdivisions are to the designated Articles, Sections and other subdivisions of this Indenture Supplement. The words “herein,” “hereof” and “hereunder” and other words of similar import refer to
this Indenture Supplement as a whole and not to any particular Article, Section or other subdivision; 
 (5) 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 Indenture Supplement shall be controlling; 

(6) except as expressly provided herein, each capitalized term defined herein shall relate only to the Series 2013-1 Notes and no other
Series of Notes issued by the Issuing Entity; and 
 (7) “including” and words of similar import shall be
deemed to be followed by “without limitation.” 

 “Accumulation Period” means the period from and including the Accumulation
Period Commencement Date to but excluding the earlier of (i) the beginning of an Early Redemption Period or (ii) the Series 2013-1 Termination Date. 
 “Accumulation Period Commencement Date” means the date determined by the Servicer pursuant to Section 3.05; provided, however, that, if on the Specified
Accumulation Period Commencement Date or on any date after the Specified Accumulation Period Commencement Date any other outstanding series of notes issued pursuant to the Indenture shall have entered into an early redemption period as defined for
such other series of notes and the Accumulation Period Commencement Date has not occurred, the Accumulation Period Commencement Date shall be the date that such other outstanding series of notes shall have entered into an early redemption period.

 “Accumulation Period Length” means the number of Due Periods (rounded up to the nearest whole number) from
the Accumulation Period Commencement Date to the last day of the Due Period immediately preceding the Expected Principal Distribution Date. 
 “Aggregate Receivables Balance” means, as of any date of determination, the aggregate principal amount of the Dealer Notes held by the Issuing Entity as of such date. 

“Aggregate Trust Balance” means, as of any date of determination, the sum of the Aggregate Receivables Balance plus the
amount on deposit in the Excess Funding Account as of such date. 
 “Calculation Agent” is defined in
Section 3.08. 
 “Cash Collateral Percentage” means, with respect to any Transfer Date, the
percentage equivalent of a fraction equal to (a) the sum of the amount on deposit in the Excess Funding Account and in each of the principal funding accounts with respect to each series of notes issued pursuant to the Indenture over
(b) the sum of (i) the Outstanding Principal Amount of the Series 2013-1 Notes and the outstanding principal amount of each other series of notes issued pursuant to the Indenture, (ii) the Series 2013-1 Target Overcollateralization
Amount and the target overcollateralization amount specified for each other series of notes issued under the Indenture, and (iii) the Series 2013-1 Required Excess Seller’s Interest and the required excess seller’s interest for each
other series of notes issued under the Indenture. 
 “Class A Interest Rate” means, with respect to any
Interest Period, a rate per annum equal to LIBOR, as determined by the Calculation Agent on the LIBOR Determination Date with respect to such Interest Period, plus 0.67%. 
 “Class A Monthly Interest” is defined in Section 3.01. 
 “Class A Nominal Liquidation Amount” means, at any time, an amount equal to: 
  

	 	(i)	the Class A Outstanding Principal Amount; 

  

	 	(ii)	minus the reductions to the Class A Nominal Liquidation Amount pursuant to Section 3.03(b) on or prior to such date of determination;

  
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	 	(iii)	plus the reinstatements of the Class A Nominal Liquidation Amount pursuant to Section 3.03(d) on or prior to such date of determination;

  

	 	(iv)	minus the amount (other than investment earnings) then on deposit in the Series 2013-1 Principal Funding Account (after giving effect to any deposits,
allocations, reallocations or withdrawals to be made on that day) up to the amount that would reduce the Class A Nominal Liquidation Amount to zero; 

 provided, however, the Class A Nominal Liquidation Amount may never be greater than the Class A Outstanding Principal Amount or less than zero. 

“Class A Notes” means the $169,060,000.00 Class A Floating Rate Dealer Note Asset Backed Notes, Series 2013-1.

 “Class A Outstanding Principal Amount” equals the aggregate initial outstanding principal amount of the
Class A Notes, minus any principal payments made to holders of the Class A Notes. 
 “Class B Interest
Rate” means, with respect to any Interest Period, a rate per annum equal to LIBOR, as determined by the Calculation Agent on the LIBOR Determination Date with respect to such Interest Period, plus 1.00%. 

“Class B Monthly Interest” is defined in Section 3.01. 

“Class B Nominal Liquidation Amount” means, at any time, an amount equal to: 

 

	 	(i)	the Class B Outstanding Principal Amount; 

  

	 	(ii)	minus the reductions to the Class B Nominal Liquidation Amount pursuant to Section 3.03(b) on or prior to such date of determination;

  

	 	(iii)	plus the reinstatements of the Class B Nominal Liquidation Amount pursuant to Section 3.03(d) on or prior to such date of determination;

  

	 	(iv)	minus the amount (other than investment earnings) then on deposit in the Series 2013-1 Principal Funding Account (after giving effect to any deposits,
allocations, reallocations or withdrawals to be made on that day) in excess of the amount allocated to the Class A Nominal Liquidation Amount up to the amount that would reduce the Class B Nominal Liquidation Amount to zero;

 provided, however, the Class B Nominal Liquidation Amount may never be greater than the Class B Outstanding
Principal Amount or less than zero. 
 “Class B Notes” means the $10,500,000.00 Class B Floating Rate Dealer
Note Asset Backed Notes, Series 2013-1. 

  
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 “Class B Outstanding Principal Amount” equals the aggregate initial
outstanding principal amount of the Class B Notes, minus any principal payments made to holders of the Class B Notes. 

“Class C Interest Rate” means, with respect to any Interest Period, a rate per annum equal to LIBOR, as determined by
the Calculation Agent on the LIBOR Determination Date with respect to such Interest Period, plus 1.50%. 
 “Class C
Monthly Interest” is defined in Section 3.01. 
 “Class C Nominal Liquidation Amount”
means, at any time, an amount equal to: 
  

	 	(i)	the Class C Outstanding Principal Amount, 

  

	 	(ii)	minus the reductions to the Class C Nominal Liquidation Amount pursuant to Section 3.03(b) on or prior to such date of determination;

  

	 	(iii)	plus the reinstatements of the Class C Nominal Liquidation Amount pursuant to Section 3.03(d) on or prior to such date of determination;

  

	 	(iv)	minus the amount (other than investment earnings) then on deposit in the Series 2013-1 Principal Funding Account (after giving effect to any deposits,
allocations, reallocations or withdrawals to be made on that day) in excess of the amount allocated to the Class A Nominal Liquidation Amount and the Class B Nominal Liquidation Amount up to the amount that would reduce the Class C Nominal
Liquidation Amount to zero; 

 provided, however, the Class C Nominal Liquidation Amount may never be greater than
the Class C Outstanding Principal Amount or less than zero. 
 “Class C Notes” means the $9,390,000 Class C
Floating Rate Dealer Note Asset Backed Notes, Series 2013-1. 
 “Class C Outstanding Principal Amount” equals
the aggregate initial outstanding principal amount of the Class C Notes, minus any principal payments made to holders of the Class C Notes. 
 “Class D Interest Rate” means, with respect to any Interest Period, a rate per annum equal to LIBOR, as determined by the Calculation Agent on the LIBOR Determination Date with respect to
such Interest Period, plus 2.25%. 
 “Class D Monthly Interest” is defined in Section 3.01.

 “Class D Nominal Liquidation Amount” means, at any time, an amount equal to: 

 

	 	(i)	the Class D Outstanding Principal Amount, 

  
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	 	(ii)	minus the reductions to the Class D Nominal Liquidation Amount pursuant to Section 3.03(b) on or prior to such date of determination;

  

	 	(iii)	plus the reinstatements of the Class D Nominal Liquidation Amount pursuant to Section 3.03(d) on or prior to such date of determination;

  

	 	(iv)	minus the amount (other than investment earnings) then on deposit in the Series 2013-1 Principal Funding Account (after giving effect to any deposits,
allocations, reallocations or withdrawals to be made on that day) in excess of the amount allocated to the Class A Nominal Liquidation Amount, the Class B Nominal Liquidation Amount and the Class C Nominal Liquidation Amount up to the amount
that would reduce the Class D Nominal Liquidation Amount to zero; 

 provided, however, the Class D Nominal
Liquidation Amount may never be greater than the Class D Outstanding Principal Amount or less than zero. 
 “Class D
Notes” means the $11,050,000.00 Class D Floating Rate Dealer Note Asset Backed Notes, Series 2013-1. 
 “Class
D Outstanding Principal Amount” equals the aggregate initial outstanding principal amount of the Class D Notes, minus any principal payments made to holders of the Class D Notes. 

“Collateral Amount” means, with respect to the Series 2013-1 Notes, the Series 2013-1 Collateral Amount. 

“Controlling Class” means, with respect to the Series 2013-1 Notes, the Series 2013-1 Controlling Class. 

“Distribution Date” means the 25th day of each calendar month or, if such day is not a Business Day, the next succeeding Business Day commencing
March 25, 2013. 
 “Early Redemption Events” means, with respect to the Series 2013-1 Notes, each of the
following: 
  

	 	(A)	failure on the part of the Depositor (i) to make any payment, distribution or deposit required under the Pooling and Servicing Agreement within five Business Days
after the date due or (ii) to observe or perform in any material respect any other material covenants or agreements of the Depositor therein, which failure has a material adverse effect on the Series 2013-1 Noteholders and which continues
unremedied for a period of 60 days after written notice of such failure shall have been given to the Depositor by the Indenture Trustee or to the Depositor and the Indenture Trustee by any Holder of the Series 2013-1 Notes; 

 

	 	(B)	 any representation or warranty made by the Depositor pursuant to the Pooling and Servicing Agreement or any information contained in the schedule of
Dealer Notes delivered thereunder shall prove to have been incorrect in any material respect when made or when delivered, which representation, warranty or 

  
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schedule, or the circumstances or condition that caused such representation, warranty or schedule to be incorrect, continues to be incorrect or uncured in any material respect for a period of 60
days after written notice of such incorrectness shall have been given to the Depositor by the Indenture Trustee or to the Depositor and the Indenture Trustee by any Holder of the Series 2013-1 Notes and as a result of which the interests of the
Series 2013-1 Noteholders are materially and adversely affected; provided, however, that an Early Redemption Event shall not be deemed to occur if the Depositor has repurchased the related Dealer Notes or all such Dealer Notes, if
applicable, during such period in accordance with the provisions of the Pooling and Servicing Agreement; 

  

	 	(C)	any of the Depositor, Navistar, NIC or NFC shall file a petition commencing a voluntary case under any chapter of the federal bankruptcy laws; or the Depositor,
Navistar, NIC or NFC shall file a petition or answer or consent seeking reorganization, arrangement, adjustment or composition under any other similar applicable federal law, or shall consent to the filing of any such petition, answer or consent; or
the Depositor, Navistar, NIC or NFC shall appoint, or consent to the appointment of, a custodian, receiver, liquidator, trustee, assignee, sequestrator or other similar official in bankruptcy or insolvency of it or of any substantial part of its
property; or the Depositor, Navistar, NIC or NFC shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due; 

 

	 	(D)	any order for relief against any of the Depositor, Navistar, NIC or NFC shall have been entered by a court having jurisdiction in the premises under any chapter of the
federal bankruptcy laws, and such order shall have continued undischarged or unstayed for a period of 120 days; or a decree or order by a court having jurisdiction in the premises shall have been entered approving as properly filed a petition
seeking reorganization, arrangement, adjustment, or composition of the Depositor, Navistar, NIC or NFC under any other similar applicable federal law, and such decree or order shall have continued undischarged or unstayed for a period of 120 days;
or a decree or order of a court having jurisdiction in the premises for the appointment of a custodian, receiver, liquidator, trustee, assignee, sequestrator or other similar official in bankruptcy or insolvency of the Depositor, Navistar, NIC or
NFC of any substantial part of their property, or for the winding up or liquidation of their affairs, shall have been entered, and such decree or order shall have remained in force undischarged or unstayed for a period of 120 days;

  

	 	(E)	the Depositor shall become legally unable for any reason to transfer Dealer Notes to the Issuing Entity in accordance with the provisions of the Pooling and Servicing
Agreement; 

  

	 	(F)	 on any Transfer Date, after giving effect to allocations to be made on that Transfer Date (including payments to be made on the related Distribution
Date), the Series 2013-1 Target Overcollateralization Amount exceeds the Series 2013-1 Overcollateralization Amount; provided, however, that if such shortfall was caused by an increase in the Series 2013-1 Target Overcollateralization
Amount 

  
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as a result of the occurrence of an Excess Cash Collateral Event, there shall be a six month grace period to increase the Series 2013-1 Overcollateralization Amount to the required level;

  

	 	(G)	any Servicer Termination Event shall occur (i) which would have a material adverse effect on the Series 2013-1 Noteholders and (ii) for which the Servicer has
received a notice of termination; 

  

	 	(H)	the average Monthly Payment Rate for any three consecutive Due Periods is less than Monthly Payment Rate Trigger; 

 

	 	(I)	the Series 2013-1 Outstanding Principal Amount is not repaid by the Expected Principal Distribution Date; 

 

	 	(J)	the Issuing Entity becomes an “investment company” within the meaning of the Investment Company Act of 1940, as amended, and is not exempt from compliance
with that Act; 

  

	 	(K)	the occurrence of an Event of Default under the Indenture; 

  

	 	(L)	the delivery by the Depositor to the Issuing Entity of a notice stating that the Depositor shall no longer continue to sell Dealer Notes to the Issuing Entity pursuant
to the Pooling and Servicing Agreement commencing on the date specified in such notice; 

  

	 	(M)	at the end of any Due Period, the Seller’s Interest is reduced to an amount less than the Minimum Seller’s Interest and the Depositor has failed to assign
additional Dealer Notes to the Issuing Entity or deposit cash into the Excess Funding Account, the Series 2013-1 Principal Funding Account or any other principal funding account with respect to any other series of notes issued pursuant to the
Indenture in the amount of such deficiency within ten Business Days following the end of such Due Period; provided, however, that if such deficiency was caused by an increase in the Minimum Seller’s Interest as a result of the
occurrence of an Excess Cash Collateral Event or an excess cash collateral event for any other series of notes issued under the Indenture, there shall be a six month grace period to increase the Seller’s Interest to the required level;

  

	 	(N)	on any Determination Date, the quotient of (a) the sum of Dealer Note Losses for the related Due Period and the five immediately preceding Due Periods and
(b) the sum of Principal Collections for the related Due Period and the five immediately preceding Due Periods, is greater than or equal to one and a half percent (1.5%); 

 

	 	(O)	failure on the part of Navistar to make a deposit in the Interest Deposit Account required by the terms of the Interest Deposit Agreement on or before the date
occurring five Business Days after the date such deposit is required by the Interest Deposit Agreement to be made; and 

  
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	 	(P)	upon an increase in the Spread Account Required Amount as a result of the average Monthly Payment Rate for any three consecutive Due Periods being less than the Monthly
Payment Rate Enhancement Trigger, the amount on deposit in the Series 2013-1 Spread Account is less than the Spread Account Required Amount for five (5) consecutive Business Days. 

In the case of any event described in clauses (A), (B) or (G) above, an Early Redemption Event with
respect to Series 2013-1 Notes shall be deemed to have occurred only if, after the applicable grace period described in those clauses, if any, either the Indenture Trustee or Series 2013-1 Noteholders holding Series 2013-1 Notes evidencing more than
50% of the Series 2013-1 Outstanding Principal Amount by written notice to the Depositor, the Servicer, the Issuing Entity and, if given by Series 2013-1 Noteholders, the Indenture Trustee, declare that an Early Redemption Event has occurred as of
the date of that notice. In the case of any Early Redemption Event other than clauses (A), (B) or (G) described above, an Early Redemption Event with respect to the Series 2013-1 Notes shall be deemed to have occurred
without any notice or other action on the part of the Indenture Trustee or the Series 2013-1 Noteholders immediately upon the occurrence of that event. 
 “Early Redemption Period” means the period from and including the date on which an Early Redemption Event occurs to but excluding the Series 2013-1 Termination Date. 

“Excess Available Interest Amounts” means, with respect to any Due Period, either (i) the portion of Series 2013-1
Available Interest Amounts, if any, available after application pursuant to Section 3.01(a)(i) through (xii) or (ii) the amounts available to the Series 2013-1 Notes from the Notes of other Series in Excess Interest
Sharing Group One that the applicable Indenture Supplements specify are to be treated as “Excess Available Interest Amounts.” 
 “Excess Available Principal Amounts” means, with respect to any Business Day, either (i) the sum of (A) the portion of Series 2013-1 Available Principal Amounts, if any,
available after application pursuant to Section 3.02(a)(i) through (vi), plus (B) the amounts withdrawn from the Series 2013-1 Principal Funding Account pursuant to Section 3.13 and treated as “Excess
Available Principal Amounts,” or (ii) the amounts available to the Series 2013-1 Notes from the Notes of other Series in Principal Sharing Group One that the applicable Indenture Supplements specify are to be treated as “Excess
Available Principal Amounts” on the related Business Day. 
 “Excess Cash Collateral Event” shall be
deemed to have occurred and be continuing if for any 18 consecutive Transfer Dates the Cash Collateral Percentage has exceeded the Excess Cash Collateral Trigger; provided, however, that an Excess Cash Collateral Event shall be deemed
to have been cured if subsequent to the occurrence of the Excess Cash Collateral Event the Cash Collateral Percentage is less than Excess Cash Collateral Trigger for six consecutive Transfer Dates. 

“Excess Cash Collateral Trigger” means 50%. 

  
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 “Excess Interest Sharing Group One” means Series 2013-1 and each other
Series of Notes specified in the related Indenture Supplement as being included in Excess Interest Sharing Group One. 

“Expected Principal Distribution Date” means January 26, 2015. 

“Interest Period” means, with respect to any Distribution Date, the period from and including the preceding Distribution
Date to but excluding that Distribution Date, or, in the case of the first Distribution Date, from and including the Issuance Date to but excluding such first Distribution Date. 

“Issuance Date” means February 14, 2013. 
 “Legal Final Maturity Date” means January 25, 2018. 

“LIBOR” means the interest rate determined by the Calculation Agent in accordance with the following provisions:

  

	 	(1)	On each LIBOR Determination Date, LIBOR shall be determined on the basis of the offered rates for deposits in United States Dollars having a one month maturity, which
appear on the LIBOR 01 Page as of 11:00 A.M., London time, on that LIBOR Determination Date. These posted offered rates are for value on the second Business Day after which dealings in deposits in United States Dollars are transacted in the London
interbank market. If at least two of these offered rates appear on the LIBOR 01 Page, the rate for that LIBOR Determination Date shall be the arithmetic mean (rounded, if necessary, to the nearest one hundred-thousandth of a percent) of these
offered rates as determined by the Calculation Agent. If fewer than two offered rates appear, LIBOR for that LIBOR Determination Date shall be determined as if the parties had specified the rate described in (2) below. 

 

	 	(2)	 On any LIBOR Determination Date on which fewer than two offered rates appear on the LIBOR 01 Page as specified in (1) above, LIBOR shall be
determined on the basis of the rates at which deposits in United States Dollars are offered by the Reference Banks at approximately 11:00 A.M., London time, on that LIBOR Determination Date to prime banks in the London interbank market, having a one
month maturity, those deposits commencing on the second London Business Day immediately following that LIBOR Determination Date and in a principal amount of not less than U.S. $1,000,000 that is representative for a single transaction in that market
at that time. The Calculation Agent shall request the principal London office of each of those Reference Banks to provide a quotation of its rate. If at least two of those quotations are provided, LIBOR for that LIBOR Determination Date shall be the
arithmetic mean (rounded, if necessary, to the nearest one hundred-thousandth of a percent) of those quotations. If fewer than two quotations are provided, LIBOR for that LIBOR Determination Date shall be the arithmetic mean (rounded, if necessary,
to the nearest one hundred-thousandth of a percent) of the rates quoted by three major banks in the City of New York selected by the 

  
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Calculation Agent at approximately 11:00 A.M., New York City time, on that LIBOR Determination Date for loans in United States Dollars to leading European banks, having a one month maturity,
those loans commencing on the second London Business Day immediately following that LIBOR Determination Date and in a principal amount of not less than U.S. $1,000,000 that is representative for a single transaction in that market at that time,
provided, however, that if the banks in the City of New York selected as aforesaid by the Calculation Agent are not quoting as mentioned in this sentence, LIBOR with respect to that LIBOR Determination Date shall be LIBOR in effect
immediately prior to that LIBOR Determination Date. 

 “LIBOR Determination Date” means, for any
Interest Period, the date which is two London Business Days prior to the start of that Interest Period. 
 “London
Business Day” means a day that is both a Business Day and a day on which banking institutions in the City of London, England are not required or authorized by law to be closed. 

“Mismatch Rate” means 1.16%. 
 “Monthly Payment Rate” means, on any Determination Date, the quotient of (1) the sum of Dealer Note Collections for the related Due Period and (2) the daily average Aggregate
Receivables Balance during the related Due Period. 
 “Monthly Payment Rate Enhancement Trigger” means 20%.

 “Monthly Payment Rate Trigger” means 16%. 

“Nominal Liquidation Amount” means, with respect to the Series 2013-1 Notes, the Series 2013-1 Nominal Liquidation
Amount. 
 “Nominal Liquidation Amount Deficit” means, with respect to the Series 2013-1 Notes as of any
Transfer Date, the excess of the aggregate of the reallocations and reductions made pursuant to Section 3.03 on or prior to such Transfer Date, over the aggregate amount of all reinstatements pursuant to Section 3.03 on or
prior to such Transfer Date. 
 “Overcollateralization Amount” means, with respect to the Series 2013-1 Notes,
the Series 2013-1 Overcollateralization Amount. 
 “Overcollateralization Amount Deficit” means, with respect
to the Series 2013-1 Notes as of any Transfer Date, the excess of the Series 2013-1 Target Overcollateralization Amount as of such Transfer Date over the Series 2013-1 Overcollateralization Amount as of such Transfer Date. 

“Pooling and Servicing Agreement” means the Pooling and Servicing Agreement, dated as of November 2, 2011, among
the Depositor, the Servicer and the Issuing Entity, as amended and supplemented from time to time. 

  
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 “Principal Sharing Group One” means Series 2013-1 and each other Series
specified in the related Indenture Supplement as being included in Principal Sharing Group One. 
 “Qualified
Institutional Buyer” is defined in Section 4.05(b)(i). 
 “Rating Agency Condition” means,
with respect to the Series 2013-1, the Series 2013-1 Rating Agency Condition. 
 “Reference Banks” means the
principal London offices of Bank of America, N.A. and Credit Suisse AG, Cayman Islands Branch. 
 “Reinstatement
Amount” is defined in Section 3.01(a)(viii). 
 “Required Negative Carry Account Balance”
means (a) for any date during the Revolving Period when funds are on deposit or to be deposited into the Series 2013-1 Principal Funding Account, the greater of (i) the product of (A) the amount on deposit in the Series 2013-1
Principal Funding Account (after giving effect to any deposits or withdrawals to be made on such date), (B) the Mismatch Rate, and (C) 1/12 times the number of full months until the Expected Principal Distribution Date and (ii) 0.75%
of the amount on deposit in the Series 2013-1 Principal Funding Account (after giving effect to any deposits or withdrawals to be made on such date) and (b) at all other times, zero. 

“Required Seller’s Percentage” means 0%. 
 “Revolving Period” means the period beginning on the Issuance Date and ending when an Accumulation Period or Early Redemption Period begins. 

“Series 2013-1” is defined in Section 2.01. 

“Series 2013-1 Accounts” is defined in Section 3.10(a). 

“Series 2013-1 Allocated Dealer Note Losses” means, with respect to any Due Period and the related Transfer Date, the
product of the Series 2013-1 Variable Allocation Percentage for such Due Period and Dealer Note Losses for such Due Period. 

“Series 2013-1 Allocated Interest Amounts” means, with respect to any Due Period and the related Transfer Date, the
product of the Series 2013-1 Variable Allocation Percentage for such Due Period and Finance Charge Collections for such Due Period. 
 “Series 2013-1 Allocated Principal Amounts” means, with respect to any Business Day, the product of the Series 2013-1 Fixed Allocation Percentage for such Business Day and Principal
Collections for such Business Day. 
 “Series 2013-1 Available Interest Amounts” means, with respect to any Due
Period and the related Transfer Date, an amount equal to: 
  

	 	(i)	the Series 2013-1 Allocated Interest Amounts for such Due Period; 

  
 11 

	 	(ii)	plus any net investment earnings for such Due Period on funds in the Series 2013-1 Interest Funding Account, the Series 2013-1 Principal Funding Account, the
Series 2013-1 Negative Carry Account and the Series 2013-1 Spread Account; 

  

	 	(iii)	plus the Series 2013-1 Investment Income; 

  

	 	(iv)	plus if the amount of interest at the Weighted Average Note Rate on funds in the Series 2013-1 Principal Funding Account exceeds the sum of the net investment
earnings described in clause (ii) above and the Series 2013-1 Investment Income described in clause (iii) above, the amount of this excess shall be withdrawn from the Series 2013-1 Negative Carry Account to the extent of
funds on deposit in the Series 2013-1 Negative Carry Account and applied pursuant to the terms of this Indenture Supplement; 

  

	 	(v)	plus any Excess Available Interest Amounts allocated to Series 2013-1 for such Due Period pursuant to Section 3.01(b); 

 

	 	(vi)	plus any amount treated as Series 2013-1 Available Interest Amounts pursuant to Sections 3.01(c)(i) and (ii). 

“Series 2013-1 Available Principal Amounts” means, with respect to any Business Day, an amount equal to: 

 

	 	(i)	the Series 2013-1 Allocated Principal Amounts for such Business Day; 

  

	 	(ii)	plus, if such Business Day is a Transfer Date, any Series 2013-1 Available Interest Amounts used to fund the Series 2013-1 Noteholder Allocated Dealer Note
Losses for the related Due Period pursuant to Section 3.01(a)(vii); 

  

	 	(iii)	plus, if such Business Day is a Transfer Date, any Series 2013-1 Available Interest Amounts used to reinstate any reduction in the Series 2013-1 Collateral
Amount for the related Due Period pursuant to Sections 3.01(a)(viii) and 3.03(c); 

  

	 	(iv)	plus any Excess Available Principal Amounts allocated to Series 2013-1 for such Business Day pursuant to Section 3.02(b); 

 

	 	(v)	plus, if such Business Day is a Transfer Date, during the occurrence of an Excess Cash Collateral Event, any Series 2013-1 Available Interest Amounts which are
treated as Series 2013-1 Available Principal Amounts pursuant to Section 3.01(a)(viii); 

  

	 	(vi)	plus, if such Business Day is a Transfer Date, any funds from the Series 2013-1 Negative Carry Account used to reinstate any reduction in the Series 2013-1
Collateral Amount on that Transfer Date pursuant to Section 3.12(b); 

  

	 	(vii)	plus, if such Business Day is a Transfer Date and if the Series 2013-1 Notes are in an Early Redemption Period, any Series 2013-1 Available Interest Amounts
treated as Series 2013-1 Available Principal Amounts pursuant to Section 3.01(a)(xii). 

  
 12 

 “Series 2013-1 Backup Servicing Expenses” means, with respect to any
Transfer Date, the product of (a) the Backup Servicing Expenses, multiplied by (b) a fraction (i) the numerator of which is the daily average Series 2013-1 Nominal Liquidation Amount for each day of the related Due Period and
(ii) the denominator of which is the daily average Aggregate Trust Balance for each day of the related Due Period. 

“Series 2013-1 Backup Servicing Fee” means, with respect to any Transfer Date, the product of (a) 1/12 of the Base
Backup Servicing Fee, multiplied by (b) a fraction (i) the numerator of which is the daily average Series 2013-1 Nominal Liquidation Amount for each day of the related Due Period and (ii) the denominator of which is the daily average
Aggregate Trust Balance for each day of the related Due Period. 
 “Series 2013-1 Collateral Amount” equals the
sum of the Series 2013-1 Nominal Liquidation Amount and the Series 2013-1 Overcollateralization Amount. 
 “Series
2013-1 Controlled Accumulation Amount” is equal to (a) the Series 2013-1 Outstanding Principal Amount as of the last day of the Due Period immediately preceding the Accumulation Period Commencement Date, minus the amount on
deposit in the Series 2013-1 Principal Funding Account as of the last day of the Due Period immediately preceding the Accumulation Period Commencement Date, divided by (b) the Accumulation Period Length. 

“Series 2013-1 Controlled Deposit Amount” for any Due Period occurring during the Accumulation Period means the excess,
if any, of: 
  

	 	(i)	the sum of (x) product of (A) the Series 2013-1 Controlled Accumulation Amount and (B) the number of Due Periods that have occurred with respect to the
Accumulation Period through and including that Due Period (but not in excess of the Accumulation Period Length) and (y) the amount on deposit in the Series 2013-1 Principal Funding Account as of the last day of the Due Period immediately
preceding the Accumulation Period Commencement Date, over 

  

	 	(ii)	the amount on deposit in the Series 2013-1 Principal Funding Account as of the last day of the immediately preceding Due Period; 

provided that notwithstanding the foregoing, the Depositor may, in its sole discretion, increase the Series 2013-1 Controlled Deposit Amount at
any time and from time to time. 
 “Series 2013-1 Controlling Class” means the Class A Notes or, if no
Class A Notes are outstanding, the Class B Notes or, if no Class A Notes or Class B Notes are Outstanding, the Class C Notes or, if no Class A Notes, Class B Notes or Class C Notes are Outstanding, the Class D Notes. 

  
 13 

 “Series 2013-1 Fixed Allocation Percentage” means the percentage equivalent
of a fraction never greater than 100% or less than 0% equal to: 
  

	 	(i)	the numerator of which is the Series 2013-1 Collateral Amount as of such day or, if the Accumulation Period or an Early Redemption Period has commenced, as of the day
prior to the commencement of the Accumulation Period or the Early Redemption Period, as applicable; and 

  

	 	(ii)	the denominator of which is the greater of (A) the sum of the Collateral Amounts for each Series of Notes used to calculate the applicable fixed allocation
percentage of such Series as of such day and (B) the Aggregate Trust Balance as of last day of the preceding Due Period. 

 “Series 2013-1 Interest Funding Account” means the account designated as such and established pursuant to Section 3.10(a). 

“Series 2013-1 Investment Income” means with respect to any Due Period and the Series 2013-1 Notes, the product of the
Series 2013-1 Variable Allocation Percentage for such Due Period and Investment Income for such Due Period. 
 “Series
2013-1 Monthly Interest” means the sum of Class A Monthly Interest, Class B Monthly Interest, Class C Monthly Interest and Class D Monthly Interest. 
 “Series 2013-1 Negative Carry Account” means the account designated as such and established pursuant to Section 3.10(a). 

“Series 2013-1 Nominal Liquidation Amount” means, with respect to any Transfer Date, the sum of the Class A Nominal
Liquidation Amount, the Class B Nominal Liquidation Amount, the Class C Nominal Liquidation Amount and the Class D Nominal Liquidation Amount, each as of such Transfer Date. 
 “Series 2013-1 Noteholder” means a Person in whose name a Series 2013-1 Note is registered in the Note Register. 
 “Series 2013-1 Noteholder Allocated Dealer Note Losses” means, with respect to any Due Period, the product of (a) Series 2013-1 Allocated Dealer Note Losses for such Due Period and
(b) the quotient of (i) the Series 2013-1 Nominal Liquidation Amount as of the preceding Transfer Date, divided by (ii) the Series 2013-1 Collateral Amount as of the preceding Transfer Date. 

“Series 2013-1 Notes” is defined in Section 2.01. 

“Series 2013-1 Outstanding Principal Amount” means, the sum of the Class A Outstanding Principal Amount, the Class
B Outstanding Principal Amount, the Class C Outstanding Principal Amount and the Class D Outstanding Principal Amount. 

“Series 2013-1 Overcollateralization Amount” means as of any Transfer Date, an amount equal to: 

 

	 	(i)	the Series 2013-1 Target Overcollateralization Amount as of such Transfer Date 

  
 14 

	 	(ii)	minus the reductions to the Series 2013-1 Overcollateralization Amount pursuant to Section 3.03(b) on or prior to such date of determination;

  

	 	(iii)	plus the reinstatements of the Series 2013-1 Overcollateralization Amount pursuant to Section 3.03(d) on or prior to such date of determination;

 provided, however, the Series 2013-1 Overcollateralization Amount may never be less than zero or be greater than
the Series 2013-1 Target Overcollateralization Amount; provided that the Depositor may in its discretion at any time and from time to time increase the Series 2013-1 Overcollateralization Amount (together with any discretionary amounts added
to the Spread Account) by up to 5.0% in the aggregate of the initial Series 2013-1 Nominal Liquidation Amount by allocating a portion of the Seller’s Interest thereto, but only to the extent that it will not result in the Seller’s Interest
being less than the Minimum Seller’s Interest; provided, further, that if the Series 2013-1 Target Overcollateralization Amount has increased as a result of an Excess Cash Collateral Event, the Series 2013-1 Overcollateralization
Amount will be proportionately increased only to the extent that it will not result in the Seller’s Interest being less than the Minimum Seller’s Interest, and if other series of notes issued pursuant to the Indenture require similar
increases, each such series, including Series 2013-1, shall receive only its pro rata share of any such increase available based on the aggregate amount of such series’ shortfall. 

“Series 2013-1 Overcollateralization Factor” means 9.50%. 

“Series 2013-1 Overcollateralization Percentage” means the percentage equivalent of a fraction, the numerator of which
is the Series 2013-1 Overcollateralization Factor and the denominator of which is 1.00 minus the Series 2013-1 Overcollateralization Factor. 
 “Series 2013-1 Principal Funding Account” means the trust account designated as such and established pursuant to Section 3.10(a). 

“Series 2013-1 Rating Agencies” means Moody’s Investors Service Inc. or its successor and DBRS Inc. or its
successor. 
 “Series 2013-1 Rating Agency Condition” means, with respect to any action, the condition that
each Series 2013-1 Rating Agency shall have been given at least 10 days (or such shorter period as is acceptable to such Series 2013-1 Rating Agency) prior notice thereof and each Series 2013-1 Rating Agency shall have notified the Servicer (and, if
NFC is not the Servicer, NFC) in writing that such action shall not result in a downgrade or withdrawal of the then-current rating of any rated Class of Notes (other than a Class of the Series 2013-1 Notes held only by the Depositor and its
Affiliates). 
 “Series 2013-1 Required Excess Seller’s Interest” equals, for the Series 2013-1 Notes,
with respect to any Business Day, the Required Seller’s Percentage times the Series 2013-1 Nominal Liquidation Amount as of that day. 
 “Series 2013-1 Servicing Fee” means, with respect to any Transfer Date, the product of (a) the product of (i) 1/12, (ii) 1.0%, and (iii) the Aggregate Receivables
Balance as of the last day of the related Due Period, multiplied by (b) a fraction (i) the numerator of which is the daily 

  
 15 

 average Series 2013-1 Nominal Liquidation Amount for each day of the related Due Period and (ii) the
denominator of which is the daily average Aggregate Trust Balance for each day of the related Due Period. 
 “Series
2013-1 Spread Account” means the account designated as such and established pursuant to Section 3.10(a). 

“Series 2013-1 Target Overcollateralization Amount” means, with respect to any Transfer Date, the product of the Series
2013-1 Overcollateralization Percentage and the Series 2013-1 Nominal Liquidation Amount as of such Transfer Date; provided, however, that if an Early Redemption Period has commenced, the Series 2013-1 Nominal Liquidation Amount for
the purpose of calculating the Series 2013-1 Target Overcollateralization Amount shall be the Series 2013-1 Nominal Liquidation Amount as of the last day of the Revolving Period; provided, further, that if an Excess Cash Collateral
Event occurs and is continuing, the Series 2013-1 Nominal Liquidation Amount for purposes of calculating the Series 2013-1 Target Overcollateralization Amount, the Spread Account Required Amount and the Series Required Seller’s Interest shall
be the Series 2013-1 Nominal Liquidation Amount without subtracting the amount on deposit in the Series 2013-1 Principal Funding Account in respect of the Series 2013-1 Notes. 
 “Series 2013-1 Termination Date” means the earliest to occur of (a) the Distribution Date on which the Series 2013-1 Outstanding Principal Amount is reduced to zero, (b) the
Legal Final Maturity Date and (c) the date on which the Series 2013-1 Collateral Amount is reduced to zero. 

“Series 2013-1 Unreimbursed Amount” means, as of any Transfer Date, the sum of the Nominal Liquidation Amount Deficit
and the Overcollateralization Amount Deficit both as of such Transfer Date. 
 “Series 2013-1 Variable Allocation
Percentage” means the percentage equivalent of a fraction never greater than 100% or less than 0% to: 
  

	 	(i)	the numerator of which is the daily average of the Series 2013-1 Collateral Amount for each day during such Due Period; and 

 

	 	(ii)	the denominator of which is the greater of (A) the sum of the daily average Collateral Amounts used to calculate the applicable variable allocation percentage for
each Series of Notes for such Due Period and (b) the daily average Aggregate Trust Balance during such Due Period. 

 “Series Available Interest Amounts Shortfall” means, with respect to any Transfer Date and the Series 2013-1 Notes, the excess, if any, of (a) the aggregate amount required to be
applied pursuant to Sections 3.01(a)(i) through (ix) for such Transfer Date over (b) the Series 2013-1 Available Interest Amount (excluding amounts to be treated as part of the Series 2013-1 Available Interest Amount pursuant
to clause (v) of the definition thereof) for such Transfer Date. 
 “Series Available Principal Amounts
Shortfall” means, with respect to any Business Day and the Series 2013-1 Notes, an amount equal to, the amount, if any, by which (i) the sum of all 

  
 16 

 
payments and other applications of Series 2013-1 Available Principal Amounts (other than as Excess Available Principal Amounts) required to be made under Section 3.02 on such Business
Day exceeds (ii) the related Series 2013-1 Available Principal Amounts (excluding amounts to be treated as part of Series 2013-1 Available Principal Amounts pursuant to clause (iv) of the definition thereof) on such Business Day.

 “Series Reassignment Amount” means, with respect to the Series 2013-1 Notes and a Transfer Date, the sum of
(a) the Series 2013-1 Nominal Liquidation Amount and (b) all accrued and unpaid interest on the Series 2013-1 Notes, in each case as of that Transfer Date. 
 “Series Required Seller’s Interest” means, for the Series 2013-1 Notes, with respect to any Business Day, the sum of (a) the Series 2013-1 Overcollateralization Amount as of
that Business Day and (b) Series 2013-1 Required Excess Seller’s Interest as of that Business Day. 

“Servicer Certificate” is defined in Section 3.13(a). 

“Specified Accumulation Period Commencement Date” means April 1, 2014. 

“Spread Account Deposit Amount” means, with respect to any Transfer Date prior to the earlier of (a) the payment in
full of the outstanding principal amount of the Series 2013-1 Notes and (b) the Legal Final Maturity Date, the amount, if any, by which the Spread Account Required Amount for that Transfer Date exceeds the amount of funds on deposit in the
Series 2013-1 Spread Account. 
 “Spread Account Initial Deposit” means $3,314,917.13. 

“Spread Account Required Amount” means, with respect to any Transfer Date, an amount equal to the product of the Spread
Account Percentage and the Series 2013-1 Collateral Amount as of the Closing Date. 
 “Spread Account
Percentage” means, as of any Transfer Date, 1.50%; provided, that, if as of any Transfer Date, the average Monthly Payment Rate for the three preceding Due Periods is less than the Monthly Payment Rate Enhancement Trigger,
then the Spread Account Percentage shall be 3.00%. 
 “Stated Principal Amount” with respect to any Note, means
the amount that is stated on the face of the Note to be payable to its holders. 
 “Weighted Average Note Rate”
means, for any Transfer Date, the sum of: 
  

	 	(i)	the Class A Interest Rate, multiplied by a fraction, the numerator of which is the Class A Outstanding Principal Amount and the denominator of which is the
Series 2013-1 Outstanding Principal Amount; 

  

	 	(ii)	the Class B Interest Rate, multiplied by a fraction, the numerator of which is the Class B Outstanding Principal Amount and the denominator of which is the Series
2013-1 Outstanding Principal Amount; 

  
 17 

	 	(iii)	the Class C Interest Rate, multiplied by a fraction, the numerator of which is the Class C Outstanding Principal Amount and the denominator of which is the Series
2013-1 Outstanding Principal Amount; and 

  

	 	(iv)	the Class D Interest Rate, multiplied by a fraction, the numerator of which is the Class D Outstanding Principal Amount and the denominator of which is the Series
2013-1 Outstanding Principal Amount. 

 ARTICLE II 

The Notes 

Section 2.01 Creation and Designation. 
 (a) There is hereby created and designated a Series (“Series 2013-1”) of Notes to be issued pursuant to the Indenture and this Indenture Supplement to be known as “Navistar
Financial Dealer Note Master Owner Trust II Floating Rate Dealer Note Asset Backed Notes, Series 2013-1” or the “Series 2013-1 Notes.” The Series 2013-1 Notes shall be issued in four Classes, Class A, Class B, Class C
and Class D, executed by the Issuing Entity and authenticated by or on behalf of the Indenture Trustee, substantially in the form of Exhibit A-1, Exhibit A-2, Exhibit A-3 and Exhibit A-4, respectively. 

(b) Series 2013-1 shall be in Excess Interest Sharing Group One and in Principal Sharing Group One. Series 2013-1 shall not be a Shared
Enhancement Series or in an Interest Reallocation Group. Series 2013-1 shall not be subordinated to any other Series. The Class B Notes shall be subordinate to the Class A Notes to the extent provided in this Indenture Supplement, the Class C
Notes shall be subordinate to the Class A Notes and the Class B Notes to the extent provided in this Indenture Supplement, and the Class D Notes shall be subordinate to the Class A Notes, the Class B Notes and the Class C Notes to the
extent provided in this Indenture Supplement. 
 Section 2.02 Form of Delivery; Depository; Denominations. 

(a) The Series 2013-1 Notes shall be delivered in the form of global Registered Notes as provided in Sections 2.02, 2.04
and 3.01 of the Indenture. 
 (b) The Depository for the Series 2013-1 Notes shall be The Depository Trust Company, and
the Series 2013-1 Notes shall initially be registered in the name of Cede & Co., its nominee. 
 (c) The Foreign
Depositories for the Series 2013-1 Notes shall be Clearstream Banking, Société Anonyme and Euroclear Bank S.A./N.V., as the operator of the Euroclear System. 

  
 18 

 (d) The Series 2013-1 Notes shall be issued in minimum denominations of $100,000 and
integral multiples of $1,000. 
 Section 2.03 Delivery and Payment. 

The Issuing Entity shall execute and deliver the Series 2013-1 Notes to the Indenture Trustee for authentication, and the Indenture
Trustee shall deliver the Series 2013-1 Notes when authenticated, each in accordance with Section 3.03 of the Indenture. 
 Section 2.04 Reopening. 
 The Depositor may from time to time, upon
satisfaction of the Series 2013-1 Rating Agency Condition, but without notice to or the consent from any Securityholders, create and issue additional Series 2013-1 Notes equal in rank to any Class of Series 2013-1 Notes previously offered in all
respects or in all respects except there will not be any payment of interest accruing prior to the Issuance Date of such additional Series 2013-1 Notes in a Class of Series 2013-1 Notes or except for the first date of payment of interest following
the Issuance Date of such additional Series 2013-1 Notes in a Class of Series 2013-1 Notes. When issued, the additional Series 2013-1 Notes of a Class shall be equally and ratably entitled to the benefits of the Indenture and this Indenture
Supplement applicable to those Series 2013-1 Notes with the other Outstanding Notes of that Class without preference, priority or distinction. These additional Series 2013-1 Notes may be consolidated and form a single Class with the previously
issued Series 2013-1 Notes of such Class and shall have the same terms as to status, redemption or otherwise as the previously issued Series 2013-1 Notes. 
 ARTICLE III 
 Allocations, Deposits and Payments 

Section 3.01 Series 2013-1 Available Interest Amounts. 
 (a) Allocation of Series 2013-1 Available Interest Amounts. On each Transfer Date, the Indenture Trustee, at the written direction of the Servicer, shall apply Series 2013-1 Available Interest
Amounts as follows: 
  

	 	(i)	first, on a pro rata basis (a) to the Servicer, the Series 2013-1 Servicing Fee due on such Transfer Date (to the extent it has not been deferred by the Servicer
for such Transfer Date, and if the Servicer shall defer any Series 2013-1 Servicing Fee, the Servicer shall give notice of such deferral to each of the Series 2013-1 Rating Agencies) and (b) to the Backup Servicer, the Series 2013-1 Backup
Servicing Fee due on such Transfer Date; 

  

	 	(ii)	 second, any remaining Series 2013-1 Available Interest Amounts shall be deposited into the Series 2013-1 Interest Funding Account in an amount equal to
the product of (A) a fraction, the numerator of which is the actual number of days in the related Interest Period and the denominator of 

  
 19 

	 	
which is 360, (B) the Class A Interest Rate applicable to the related Interest Period, and (C) the Class A Outstanding Principal Amount, determined as of the Distribution Date
preceding the related Distribution Date (or with respect to the first Distribution Date, as of the Issuance Date) (the “Class A Monthly Interest”), plus an amount equal to the excess, if any, of the aggregate amount accrued pursuant
to this Section 3.01(a)(ii) as of prior Interest Periods over the aggregate amount of interest paid to the Class A Noteholders pursuant to this Section 3.01(a)(ii) in respect of such prior Interest Periods, together with
interest at the Class A Interest Rate on such delinquent amount, to the extent permitted by applicable law; 

  

	 	(iii)	third, any remaining Series 2013-1 Available Interest Amounts shall be deposited into the Series 2013-1 Interest Funding Account in an amount equal to the product of
(A) a fraction, the numerator of which is the actual number of days in the related Interest Period and the denominator of which is 360, (B) the Class B Interest Rate applicable to the related Interest Period, and (C) the Class B
Outstanding Principal Amount, determined as of the Distribution Date preceding the related Distribution Date (or with respect to the first Distribution Date, as of the Issuance Date) (the “Class B Monthly Interest”), plus an amount
equal to the excess, if any, of the aggregate amount accrued pursuant to this Section 3.01(a)(iii) as of prior Interest Periods over the aggregate amount of interest paid to the Class B Noteholders pursuant to this
Section 3.01(a)(iii) in respect of such prior Interest Periods, together with interest at the Class B Interest Rate on such delinquent amount, to the extent permitted by applicable law; 

 

	 	(iv)	fourth, any remaining Series 2013-1 Available Interest Amounts shall be deposited into the Series 2013-1 Interest Funding Account in an amount equal to the product of
(A) a fraction, the numerator of which is the actual number of days in the related Interest Period and the denominator of which is 360, (B) the Class C Interest Rate applicable to the related Interest Period, and (C) the Class C
Outstanding Principal Amount, determined as of the Distribution Date preceding the related Distribution Date (or with respect to the first Distribution Date, as of the Issuance Date) (the “Class C Monthly Interest”), plus an amount
equal to the excess, if any, of the aggregate amount accrued pursuant to this Section 3.01(a)(iv) as of prior Interest Periods over the aggregate amount of interest paid to the Class C Noteholders pursuant to this
Section 3.01(a)(iv) in respect of such prior Interest Periods, together with interest at the Class C Interest Rate on such delinquent amount, to the extent permitted by applicable law; 

 

	 	(v)	 fifth, any remaining Series 2013-1 Available Interest Amounts shall be deposited into the Series 2013-1 Interest Funding Account in an amount equal to
the product of (A) a fraction, the numerator of which is the actual 

  
 20 

	 	
number of days in the related Interest Period and the denominator of which is 360, (B) the Class D Interest Rate applicable to the related Interest Period, and (C) the Class D
Outstanding Principal Amount, determined as of the Distribution Date preceding the related Distribution Date (or with respect to the first Distribution Date, as of the Issuance Date) (the “Class D Monthly Interest”), plus an amount
equal to the excess, if any, of the aggregate amount accrued pursuant to this Section 3.01(a)(v) as of prior Interest Periods over the aggregate amount of interest paid to the Class D Noteholders pursuant to this
Section 3.01(a)(v) in respect of such prior Interest Periods, together with interest at the Class D Interest Rate on such delinquent amount, to the extent permitted by applicable law; 

 

	 	(vi)	sixth, any remaining Series 2013-1 Available Interest Amounts shall be deposited into the Series 2013-1 Spread Account to the extent of any Spread Account Deposit
Amount; 

  

	 	(vii)	seventh, any remaining Series 2013-1 Available Interest Amounts shall be treated as Series 2013-1 Available Principal Amounts to the extent of the amount of Series
2013-1 Noteholder Allocated Dealer Note Losses for the related Due Period; 

  

	 	(viii)	eighth, any remaining Series 2013-1 Available Interest Amounts shall be treated as Series 2013-1 Available Principal Amounts for the reinstatement of the Series 2013-1
Collateral Amount to the extent of the Series 2013-1 Unreimbursed Amount (the amount being reinstated is referred to as the “Reinstatement Amount”), and then, to the extent that the Series 2013-1 Overcollateralization Amount is less
than the Series 2013-1 Target Overcollateralization Amount as a result of an Excess Cash Collateral Event, an amount up to such shortfall shall be treated as Series 2013-1 Available Principal Amounts, and the Series 2013-1 Overcollateralization
Amount shall be increased by the same amount; 

  

	 	(ix)	ninth, any remaining Series 2013-1 Available Interest Amounts will be deposited into the Series 2013-1 Negative Carry Account until the amount on deposit therein equals
the Required Negative Carry Account Balance; 

  

	 	(x)	tenth, any remaining Series 2013-1 Available Interest Amounts shall be paid to the Servicer to the extent any Series 2013-1 Servicing Fee which had been previously
deferred unless that amount has been deferred again; 

  

	 	(xi)	eleventh, to the Backup Servicer, the Series 2013-1 Backup Servicing Expenses due on such Transfer Date; 

 

	 	(xii)	 twelfth, if the Series 2013-1 Notes are in an Early Redemption Period, any remaining Series 2013-1 Available Interest Amounts shall be treated as
Series 2013-1 Available Principal Amounts to the extent of the Series 

  
 21 

	 	
2013-1 Nominal Liquidation Amount (after taking into account any reductions due to Series 2013-1 Noteholder Allocated Dealer Note Losses or otherwise or reinstatements of the Series 2013-1
Nominal Liquidation Amount pursuant to Section 3.01(a)(viii) on such Transfer Date due to recoveries) for payment to the Series 2013-1 Noteholders; and 

 

	 	(xiii)	thirteenth, any remaining Series 2013-1 Available Interest Amounts shall be treated as Excess Available Interest Amounts and allocated pursuant to
Section 5.02 of the Indenture. 

 (b) Excess Available Interest Amounts. On each Transfer Date,
commencing with the initial Transfer Date, if Series 2013-1 Available Interest Amounts are insufficient to make the allocations provided in Sections 3.01(a)(i) through (ix) above, the Servicer shall allocate Excess Available
Interest Amounts, if any, allocated to Series 2013-1 pursuant to Section 5.02 of the Indenture to cover the Series Available Interest Amounts Shortfall. 
 (c) Spread Account Draws. 
  

	 	(i)	At the written direction of the Servicer and to the extent that Series 2013-1 Available Interest Amounts (without giving effect to clause (vi) of the
definition thereof) are insufficient to pay in full the amounts set forth in Sections 3.01(a)(ii), (iii), (iv) and (v), the Indenture Trustee shall withdraw funds from the Series 2013-1 Spread Account in an amount
equal to the lesser of (A) the amount of such shortfall and (B) the amount on deposit in the Series 2013-1 Spread Account (after giving effect to any withdrawals from the Series 2013-1 Spread Account on such Transfer Date other than a
withdrawal pursuant to Sections 3.01(c)(i), (ii) and (iii) on such date), and treat such funds as “Series 2013-1 Available Interest Amounts.” 

 

	 	(ii)	At the written direction of the Servicer and to the extent that Series 2013-1 Available Interest Amounts (without giving effect to clause (vi) of the
definition thereof) are insufficient to pay in full the amount described in Section 3.01(a)(vii) and Series 2013-1 is in the Early Redemption Period, the Indenture Trustee shall withdraw funds from the Series 2013-1 Spread Account in an
amount equal to the lesser of (A) the amount of such shortfall and (B) the amount on deposit in the Series 2013-1 Spread Account (after giving effect to any withdrawals from the Series 2013-1 Spread Account on such Transfer Date) and treat
such funds as “Series 2013-1 Available Interest Amounts.” 

  

	 	(iii)	 In addition, after applying funds on deposit in the Spread Account pursuant to Sections 3.01(c)(i) and (ii), on the Legal Final Maturity
Date, if the Outstanding Principal Amount of any Series 2013-1 Notes remains greater than zero, the Indenture Trustee shall, at the written direction of the Servicer, apply funds from the Spread Account to repay the Outstanding Principal Amount of
such Series 2013-1 Notes in full, first, to the Class A Noteholders (up to a maximum of the Class A Outstanding 

  
 22 

	 	
Principal Amount on such Distribution Date), second, to the Class B Noteholders (up to a maximum of the Class B Outstanding Principal Amount on such Distribution Date), third, to
the Class C Noteholders (up to a maximum of the Class C Outstanding Principal Amount on such Distribution Date), and fourth, to the Class D Noteholders (up to a maximum of the Class D Outstanding Principal Amount on such Distribution Date).

 Section 3.02 Series 2013-1 Available Principal Amounts. 

(a) Allocation of Series 2013-1 Available Principal Amounts. On each Business Day, the Indenture Trustee, at the written direction
of the Servicer, shall apply Series 2013-1 Available Principal Amounts as follows: 
  

	 	(i)	first, if the Series 2013-1 Available Interest Amounts are insufficient to make the payments on the Series 2013-1 Notes pursuant to Sections 3.01(a)(ii),
(iii), (iv) and (v), to the Series 2013-1 Interest Funding Account, an amount equal to the lesser of (i) the amount of that shortfall and (ii) the Series 2013-1 Collateral Amount (after taking into account any
reinstatements pursuant to Section 3.03(d) and reductions due to Section 3.03(a)(ii)); provided, however, the Series 2013-1 Available Principal Amounts shall not be applied to pay Class B Monthly Interest, Class
C Monthly Interest or Class D Monthly Interest if, as a result of such application, the Class A Nominal Liquidation Amount would be reduced, the Series 2013-1 Available Principal Amounts shall not be applied to pay Class C Monthly Interest or
Class D Monthly Interest if, as a result of such application, the Class B Nominal Liquidation Amount would be reduced, and the Series 2013-1 Available Principal Amounts shall not be applied to pay Class D Monthly Interest if, as a result of such
application, the Class C Nominal Liquidation Amount would be reduced; 

  

	 	(ii)	second, if the Series 2013-1 Notes are in an Accumulation Period, to the Series 2013-1 Principal Funding Account, the Series 2013-1 Controlled Deposit Amount to the
extent of the Series 2013-1 Nominal Liquidation Amount (computed before giving effect to such deposit but after giving effect to any reinstatements pursuant to Sections 3.03(d)(i), (ii), (iii) and (iv) and
reductions pursuant to Sections 3.03(a)(i) and (ii)); 

  

	 	(iii)	third, if the Series 2013-1 Notes are in an Early Redemption Period, to the Series 2013-1 Principal Funding Account any remaining Series 2013-1 Available Principal
Amounts to the extent of the Series 2013-1 Nominal Liquidation Amount (computed before giving effect to such deposit but after giving effect to any reinstatements pursuant to Sections 3.03(d)(i), (ii), (iii) and
(iv) and reductions pursuant to Sections 3.03(a)(i) and (ii)) for payment to the Series 2013-1 Noteholders; 

  
 23 

	 	(iv)	fourth, if the Series 2013-1 Notes are not in an Early Redemption Period, to the extent that the Spread Account Deposit Amount is greater than zero (after giving effect
to any other deposits to or withdrawals from the Series 2013-1 Spread Account on such Transfer Date, reductions to the Series 2013-1 Nominal Liquidation Amount in accordance with Sections 3.03(a)(i) and (ii) and reinstatements
pursuant to Sections 3.03(d)(i), (ii), (iii) and (iv)), to the Series 2013-1 Spread Account an amount equal to such Spread Account Deposit Amount (not taking into account any increase in the Spread Account Required
Amount as described in the proviso to the definition thereof); 

  

	 	(v)	fifth, if the Series 2013-1 Notes are in a Revolving Period, at the Servicer’s discretion and subject to the requirement that after giving effect to clause
(vi) below the balance in the Series 2013-1 Negative Carry Account is at least equal to the Required Negative Carry Account Balance, to the Series 2013-1 Principal Funding Account any amounts that would be required to be on deposit in the
Excess Funding Account up to the amount that would reduce the Series 2013-1 Nominal Liquidation Amount to zero; provided, however, the Servicer shall not be permitted to make any such deposit into the Series 2013-1 Principal Funding
Account if, after giving effect to the deposits pursuant to this Section 3.02(a), the Series 2013-1 Overcollateralization Amount would be less than the Series 2013-1 Target Overcollateralization Amount; 

 

	 	(vi)	sixth, if the Series 2013-1 Notes are not in an Accumulation Period or an Early Redemption Period, if the amount on deposit in the Series 2013-1 Negative Carry Account
is less than the Required Negative Carry Account Balance, to the Series 2013-1 Negative Carry Account until the amount on deposit therein equals the Required Negative Carry Account Balance; and 

 

	 	(vii)	seventh, any remaining Series 2013-1 Available Principal Amounts shall be treated as Excess Available Principal Amounts and allocated pursuant to
Section 5.02 of the Indenture. 

 (b) Excess Available Principal Amounts. On each Business Day,
commencing after the Issuance Date, if Series 2013-1 Available Principal Amounts are insufficient to make the allocations provided in Sections 3.02(a)(i) through (vi) above, the Indenture Trustee shall allocate Excess Available
Principal Amounts, if any, allocated to Series 2013-1 pursuant to Section 5.02 of the Indenture to cover the Series Available Principal Amounts Shortfall. 
 Section 3.03 Reductions and Reinstatements. 
 The Series 2013-1 Collateral
Amount, Series 2013-1 Overcollateralization Amount and Series 2013-1 Nominal Liquidation Amount shall be calculated on each Transfer Date and shall be reduced and reinstated as described below. The Servicer (and not the Indenture Trustee) shall
solely be responsible for making the calculations pursuant to this Section 3.03, and the Indenture Trustee may rely upon the information with respect thereto set forth in the applicable Servicer Certificate. 

  
 24 

 (a) Reductions. The Series 2013-1 Nominal Liquidation Amount and the Series 2013-1
Overcollateralization Amount shall be reduced in the order described in Section 3.03(b) below by the following amounts allocated with respect to that Transfer Date: 

 

	 	(i)	the amount, if any, of the Series 2013-1 Available Principal Amounts used to pay interest on the Series 2013-1 Notes as described in Section 3.02(a)(i);

  

	 	(ii)	the amount of Series 2013-1 Noteholder Allocated Dealer Note Losses for such Due Period to the extent that they are not covered by Series 2013-1 Available Interest
Amounts as described in Section 3.01(a)(vii); 

  

	 	(iii)	the amount, if any, of the Series 2013-1 Available Principal Amounts deposited into the Series 2013-1 Spread Account in accordance with Section 3.02(a)(iv);
and 

  

	 	(iv)	the amount, if any, of the Series 2013-1 Available Principal Amounts deposited into the Series 2013-1 Negative Carry Account pursuant to
Section 3.02(a)(vi). 

 (b) Allocation of Reductions. On each Transfer Date, the amount of any
reduction in the Series 2013-1 Collateral Amount due to Sections 3.03(a)(i), (ii), (iii) or (iv) above shall be allocated as follows: 

 

	 	(i)	first, the Series 2013-1 Overcollateralization Amount (computed without giving effect to any reductions due to Sections 3.03(a)(i) through (iv) on
such date) shall be reduced by the amount of such reduction until the Series 2013-1 Overcollateralization Amount is reduced to zero; 

  

	 	(ii)	second, the Class D Nominal Liquidation Amount (computed without giving effect to any reductions due to Sections 3.03(a)(i) through (iv) on such
date) shall be reduced by any remaining amount until the Class D Nominal Liquidation Amount is reduced to zero; 

  

	 	(iii)	third, the Class C Nominal Liquidation Amount (computed without giving effect to any reductions due to Sections 3.03(a)(i) through (iv) on such date)
shall be reduced by any remaining amount until the Class C Nominal Liquidation Amount is reduced to zero; provided, however, that the Class C Nominal Liquidation Amount shall not be reduced by using the Series 2013-1 Available
Principal Amounts to pay Class D Monthly Interest; 

  

	 	(iv)	 fourth, the Class B Nominal Liquidation Amount (computed without giving effect to any reductions due to Sections 3.03(a)(i) through
(iv) on such date) shall be reduced by any remaining amount until the Class B Nominal Liquidation Amount is reduced to zero; provided, however, that 

  
 25 

	 	
the Class B Nominal Liquidation Amount shall not be reduced by using the Series 2013-1 Available Principal Amounts to pay Class C Monthly Interest or Class D Monthly Interest; and

  

	 	(v)	fifth, the Class A Nominal Liquidation Amount (computed without giving effect to any reductions due to Sections 3.03(a)(i) through (iv) on such
date) shall be reduced by any remaining amount until the Class A Nominal Liquidation Amount is reduced to zero; provided, however, that the Class A Nominal Liquidation Amount shall not be reduced by using the Series 2013-1
Available Principal Amounts to pay Class B Monthly Interest, Class C Monthly Interest or Class D Monthly Interest. 

 In addition, the Series 2013-1 Nominal Liquidation Amount will be reduced in the reverse order specified above by the amount of any funds (other than investment earnings) deposited into the Series 2013-1
Principal Funding Account since the prior date on which the Series 2013-1 Collateral Amount was calculated. 
 (c)
Reinstatements. The Series 2013-1 Nominal Liquidation Amount and the Series 2013-1 Overcollateralization Amount shall be reinstated on any Transfer Date by the amount of the Series 2013-1 Available Interest Amounts that are applied to cover
the Reinstatement Amount for that Transfer Date pursuant to Section 3.01(a)(viii) and by the amount of funds released from the Series 2013-1 Negative Carry Account that are applied to cover any Series 2013-1 Unreimbursed Amount for that
Transfer Date pursuant to Section 3.12(b). 
 (d) Allocation of Reinstatements. The Reinstatement Amount for
any Transfer Date specified in Section 3.03(c) shall be applied as follows: 
  

	 	(i)	first, if the Class A Nominal Liquidation Amount has been reduced as described in Section 3.03(b) above and is not fully reinstated, to the
Class A Nominal Liquidation Amount until the Class A Nominal Liquidation Amount equals the excess of (A) the Class A Outstanding Principal Amount, over (B) the amount on deposit (other than investment earnings) in the Series
2013-1 Principal Funding Account on that Transfer Date allocable to the Class A Notes; 

  

	 	(ii)	second, if the Class B Nominal Liquidation Amount has been reduced as described in Section 3.03(b) above and is not fully reinstated, to the Class B Nominal
Liquidation Amount until the Class B Nominal Liquidation Amount equals the excess of (A) the Class B Outstanding Principal Amount, over (B) the amount on deposit (other than investment earnings) in the Series 2013-1 Principal Funding
Account on that Transfer Date allocable to the Class B Notes; 

  

	 	(iii)	 third, if the Class C Nominal Liquidation Amount has been reduced as described in Section 3.03(b) above and is not fully reinstated, to the
Class C Nominal Liquidation Amount until the Class C Nominal Liquidation Amount equals the excess of (A) the Class C Outstanding Principal 

  
 26 

	 	
Amount, over (B) the amount on deposit (other than investment earnings) in the Series 2013-1 Principal Funding Account on that Transfer Date allocable to the Class C Notes;

  

	 	(iv)	fourth, if the Class D Nominal Liquidation Amount has been reduced as described in Section 3.03(b) above and is not fully reinstated, to the Class D Nominal
Liquidation Amount until the Class D Nominal Liquidation Amount equals the excess of (A) the Class D Outstanding Principal Amount, over (B) the amount on deposit (other than investment earnings) in the Series 2013-1 Principal Funding
Account on that Transfer Date allocable to the Class D Notes; and 

  

	 	(v)	fifth, to the Series 2013-1 Overcollateralization Amount until the Series 2013-1 Overcollateralization Amount equals the Series 2013-1 Target Overcollateralization
Amount. 

 In addition, the Series 2013-1 Nominal Liquidation Amount will be increased in the reverse order in
which it was reduced by deposits into the Series 2013-1 Principal Funding Account by the amount of funds withdrawn from the Series 2013-1 Principal Funding Account and deemed to be Excess Available Principal Amounts since the prior date in which the
Series 2013-1 Collateral Amount was calculated. 
 Section 3.04 Payment on the Series 2013-1 Notes. 

On each Transfer Date, the Indenture Trustee, acting in accordance with written instructions from the Servicer, shall transfer to the
Series 2013-1 Principal Funding Account and Series 2013-1 Interest Funding Account funds on deposit in the Collections Account. On each Distribution Date, after all allocations and reallocations pursuant to Sections 3.01 and 3.02, the
Indenture Trustee shall make or cause to be made, without duplication, the following distributions to the extent of available funds from the Series 2013-1 Principal Funding Account and the Series 2013-1 Interest Funding Account: 

(a) Interest Distributions. On each Distribution Date (including the Expected Principal Distribution Date), amounts on deposit in
the Series 2013-1 Interest Funding Account shall be distributed in the following manner, first, to the Class A Noteholders, accrued and unpaid interest on the Class A Notes for that Distribution Date, second, to the Class B
Noteholders, accrued and unpaid interest on the Class B Notes for that Distribution Date, third, to the Class C Noteholders, accrued and unpaid interest on the Class C Notes for that Distribution Date, and fourth, to the Class D
Noteholders, accrued and unpaid interest on the Class D Notes for that Distribution Date. If there is a shortfall in the amounts required to be distributed pursuant to the preceding clauses first, second, third or fourth,
then the amounts actually distributed pursuant to any such clause shall be shared among the Persons entitled thereto in proportion to the amounts owing such Persons. 
 (b) Expected Principal Distribution Date. On the Expected Principal Distribution Date, amounts on deposit in the Series 2013-1 Principal Funding Account shall be distributed as principal
first, to the Class A Noteholders (up to a maximum of the Class A 

  
 27 

 
Outstanding Principal Amount on such Distribution Date), second, to the Class B Noteholders (up to a maximum of the Class B Outstanding Principal Amount on such Distribution Date),
third, to the Class C Noteholders (up to a maximum of the Class C Outstanding Principal Amount on such Distribution Date), and fourth, to the Class D Noteholders (up to a maximum of the Class D Outstanding Principal Amount on such
Distribution Date). If there is a shortfall in the amounts required to be distributed pursuant to the preceding clauses first, second, third or fourth, then the amounts actually distributed pursuant to any such clause
shall be shared among the Persons entitled thereto in proportion to the amounts owing such Persons. 
 (c) Early Redemption
Period. On each Distribution Date during an Early Redemption Period, amounts on deposit in the Series 2013-1 Principal Funding Account shall be distributed as principal first, to the Class A Noteholders (up to a maximum of the
Class A Outstanding Principal Amount on such Distribution Date), second, to the Class B Noteholders (up to a maximum of the Class B Outstanding Principal Amount on such Distribution Date), third, to the Class C Noteholders (up to
a maximum of the Class C Outstanding Principal Amount on such Distribution Date), and fourth, to the Class D Noteholders (up to a maximum of the Class D Outstanding Principal Amount on such Distribution Date). If there is a shortfall in the
amounts required to be distributed pursuant to the preceding clauses first, second, third or fourth, then the amounts actually distributed pursuant to any such clause shall be shared among the Persons entitled thereto in
proportion to the amounts owing such Persons. 
 (d) Any installment of interest or principal, if any, payable on any Series
2013-1 Note which is punctually paid or duly provided for by the Issuing Entity and the Indenture Trustee on the applicable Distribution Date shall be paid by the Paying Agent to the Person in whose name such Series 2013-1 Note (or one or more
predecessor Notes) is registered on the Note Record Date, by wire transfer of immediately available funds to such Person’s account as has been designated by written instructions received by the Paying Agent from such Person not later than the
close of business on the third Business Day preceding the date of payment or, if no such account has been so designated, by check mailed first-class, postage prepaid to such Person’s address as it appears on the Note Register on such Note
Record Date, except that with respect to Notes registered on the Note Record Date in the name of the nominee of Cede & Co., payment shall be made by wire transfer in immediately available funds to the account designated by such nominee.

 (e) The right of the Series 2013-1 Noteholders to receive payments from the Issuing Entity shall terminate on the first
Business Day following the Series 2013-1 Termination Date. 
 Section 3.05 Accumulation Period Length and Accumulation Period
Commencement Date. 
 On or prior to the Distribution Date which is ten months prior to the Expected Principal Distribution
Date and on or prior to each subsequent Distribution Date until the Accumulation Period has commenced, the Servicer shall determine in its sole discretion whether the Accumulation Period Commencement Date shall occur on the first day of the
succeeding Due Period and, if the Servicer determines that the Accumulation Period Commencement Date shall be occurring on the first day of the succeeding Due Period, the Servicer shall promptly notify the Indenture Trustee and the Series 2013-1
Rating Agencies in writing of such determination. 

  
 28 

 Section 3.06 Final Payment of the Series 2013-1 Notes 

(a) Series 2013-1 Noteholders shall be entitled to payment of principal in an amount equal to the Series 2013-1 Outstanding Principal
Amount. However, Series 2013-1 Available Principal Amounts shall be available to pay principal on the Series 2013-1 Notes only up to the Series 2013-1 Nominal Liquidation Amount (for the purposes of this provision, without giving effect to
reductions pursuant to clause (iv) of the definitions of Class A Nominal Liquidation Amount, Class B Nominal Liquidation Amount, Class C Nominal Liquidation Amount and Class D Nominal Liquidation Amount). 

(b) The Series 2013-1 Notes shall be considered to be paid in full, the holders of the Series 2013-1 Notes shall have no further right or
claim, and the Issuing Entity shall have no further obligation or liability for principal or interest, on the earlier to occur of: 
  

	 	(i)	the date on which the Series 2013-1 Outstanding Principal Amount is reduced to zero and all accrued interest on the Series 2013-1 Notes is paid in full; or

  

	 	(ii)	the Legal Final Maturity Date of the Series 2013-1 Notes, after giving effect to all deposits, allocations, reallocations, sales of Dealer Notes and payments to be made
on that date. 

 (c) In no event shall the Issuing Entity repay, redeem, repurchase or otherwise acquire for value
the Class B Notes unless and until the Class A Notes have been paid in full. In no event shall the Issuing Entity repay, redeem, repurchase or otherwise acquire for value the Class C Notes unless and until the Class A Notes and the Class B
Notes have been paid in full. In no event shall the Issuing Entity repay, redeem, repurchase or otherwise acquire for value the Class D Notes unless and until the Class A Notes, the Class B Notes and the Class C Notes have been paid in full.

 Section 3.07 Netting of Deposits and Payments. 

The Issuing Entity, in its sole discretion, may make all deposits to the Series 2013-1 Interest Funding Account and the Series 2013-1
Principal Funding Account with respect to any Distribution Date net of, and after giving effect to, all reallocations to be made pursuant to Article III. 
 Section 3.08 Calculation Agent; Determination of LIBOR. 
 (a) The Issuing
Entity hereby agrees that for so long as any Series 2013-1 Notes are Outstanding, there shall at all times be an agent appointed to calculate LIBOR for each Interest Period (the “Calculation Agent”). The Issuing Entity hereby
initially appoints the Indenture Trustee as the Calculation Agent for purposes of determining LIBOR for each Interest 

  
 29 

 
Period. The Calculation Agent may be removed by the Issuing Entity at any time. If the Calculation Agent is unable or unwilling to act as such or is removed by the Issuing Entity, or if the
Calculation Agent fails to determine LIBOR for an Interest Period, the Issuing Entity shall promptly appoint a replacement Calculation Agent that does not control or is not controlled by or under common control with the Issuing Entity or its
Affiliates. The Calculation Agent may not resign its duties, and the Issuing Entity may not remove the Calculation Agent, without a successor having been duly appointed, provided that if a successor is not appointed within 30 days, the Calculation
Agent may petition a court of competent jurisdiction to make such appointment. 
 (b) The Class A Interest Rate, Class B
Interest Rate, the Class C Interest Rate and the Class D Interest Rate, applicable to the then current and the immediately preceding Interest Periods, may be obtained by contacting the Indenture Trustee at its Corporate Trust Office at
www.sf.citidirect.com or (888) 855-9695 or such other telephone number as shall be designated by the Indenture Trustee for such purpose by prior written notice by the Indenture Trustee to each Noteholder from time to time. 

(c) On each LIBOR Determination Date, the Calculation Agent shall send to the Servicer and the Indenture Trustee (if the Indenture
Trustee is not the Calculation Agent), by electronic mail or facsimile transmission, notification of LIBOR, the Class A Interest Rate, the Class B Interest Rate, the Class C Interest Rate, the Class D Interest Rate, the Class A Monthly
Interest, the Class B Monthly Interest, the Class C Monthly Interest and the Class D Monthly Interest for the following Interest Period. 
 Section 3.09 Computation of Interest. 
 Unless otherwise specified in this
Indenture Supplement, interest for any period shall be calculated from and including the first day of such period, to but excluding the last day of such period. 
 Section 3.10 Accounts. 
 (a) Accounts; Deposits to and Distributions
from Accounts. The Indenture Trustee shall cause to be established on or before the Issuance Date and maintain four Eligible Accounts denominated as follows: the “Series 2013-1 Interest Funding Account,” the “Series
2013-1 Principal Funding Account,” the “Series 2013-1 Negative Carry Account” and the “Series 2013-1 Spread Account” (collectively, the “Series 2013-1 Accounts”) in the name of the
Indenture Trustee, bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Series 2013-1 Noteholders. The Indenture Trustee shall possess all right, title and interest to all funds on deposit from
time to time in each of the Series 2013-1 Accounts and in all proceeds therefrom, for the benefit of the Secured Parties. The Series 2013-1 Accounts constitute Supplemental Accounts and shall be under the sole dominion and control of the Indenture
Trustee for the benefit of the Series 2013-1 Noteholders. If, at any time, the institution holding any Series 2013-1 Account ceases to be an Eligible Institution, the Issuing Entity shall within 15 Business Days (or such longer period, not to exceed
30 calendar days, as 

  
 30 

 
to which each Series 2013-1 Rating Agency may consent) establish a new applicable Series 2013-1 Account, that is an Eligible Account and shall transfer any cash and/or investments to such new
Series 2013-1 Account. From the date such new Series 2013-1 Account is established, it shall be a Series 2013-1 Account, bearing the name of the Series 2013-1 Account it has replaced. The Indenture Trustee shall not be responsible for protecting or
maintaining any security interest in the Series 2013-1 Accounts. 
 (b) All payments to be made from time to time by the
Indenture Trustee to Series 2013-1 Noteholders out of funds in the Series 2013-1 Accounts pursuant to this Indenture Supplement shall be made by the Indenture Trustee to the Paying Agent not later than 12:00 noon on the applicable Distribution Date
but only to the extent of funds in the applicable Series 2013-1 Account or as otherwise provided in Article III. 

Section 3.11 Spread Account. 
 (a) On the Closing Date, the Depositor shall deposit into the Series 2013-1 Spread Account an amount equal to the Spread Account Initial Deposit. 

(b) Funds on deposit in the Series 2013-1 Spread Account overnight or for a longer period shall at all times be invested in Eligible
Investments at the written direction of the Servicer or its agent, subject to the restrictions set forth in the Indenture and subject to the requirement that each such Eligible Investment shall have a stated maturity on or prior to the following
Transfer Date. Net interest and earnings (less investment expenses) on funds on deposit in the Series 2013-1 Spread Account, if any, shall constitute Series 2013-1 Available Interest Amounts. 

(c) On any Transfer Date on which the amount of funds on deposit in the Series 2013-1 Spread Account is greater than the Spread Account
Required Amount on such Transfer Date, unless otherwise instructed by the Depositor, the Servicer shall withdraw the amount of such excess from the Series 2013-1 Spread Account and allocate and pay such excess to the holders of the Certificates.

 (d) Upon payment in full of the Outstanding Principal Amount of the Series 2013-1 Notes, any funds remaining on deposit in
the Series 2013-1 Spread Account shall be distributed to the holders of the Certificates. 
 (e) If the Spread Account Required
Amount increases as a result of an increase in the Spread Account Percentage, to the extent that Series 2013-1 Available Interest Amounts are insufficient to make the deposit described in Section 3.01(a)(vi), the Depositor may, in its
sole discretion, deposit the amount of such shortfall into the Spread Account. In addition, the Depositor may, in its discretion, at any time and from time to time, deposit additional amounts into the Spread Account (together with any discretionary
increases in the Series 2013-1 Overcollateralization Amount) up to 5.0% of the initial Series 2013-1 Nominal Liquidation Amount. 
 Section 3.12 Negative Carry Account. 

  
 31 

 (a) During the Revolving Period, if funds are deposited into the Series 2013-1 Principal
Funding Account from the Excess Funding Account, then concurrent with such deposit, funds will be deposited into the Series 2013-1 Negative Carry Account to bring the balance in the Series 2013-1 Negative Carry Account up to the Required Negative
Carry Account Balance. 
 (b) If on any Transfer Date, the amount on deposit in the Series 2013-1 Negative Carry Account exceeds
the Required Negative Carry Account Balance on such Transfer Date, the Servicer shall withdraw such excess from the Series 2013-1 Negative Carry Account and pay such excess to the holders of the Certificates; provided, however, that if
funds are released from the Series 2013-1 Principal Funding Account and concurrently with such release funds are required to be deposited into the Series 2013-1 Spread Account to maintain the Spread Account Required Amount, such funds in an amount
up to the Spread Account Deposit Amount shall be withdrawn from the Series 2013-1 Negative Carry Account and deposited into the Series 2013-1 Spread Account; provided, further, that in the event Series 2013-1 Available Principal
Amounts have been used to make deposits into the Series 2013-1 Negative Carry Account and there remains any Series 2013-1 Unreimbursed Amount, such funds in an amount up to the amount of Series 2013-1 Available Principal Amounts so used and not
previously reimbursed shall be treated as Series 2013-1 Available Principal Amounts for the reinstatement of the Series 2013-1 Collateral Amount. 
 (c) Funds on deposit in the Series 2013-1 Negative Carry Account overnight or for a longer period shall at all times be invested in Eligible Investments at the written direction of the Servicer or its
agent, subject to the restrictions set forth in the Indenture and subject to the requirement that each such Eligible Investment shall have a stated maturity on or prior to the following Transfer Date. Net interest and earnings (less investment
expenses) on funds on deposit in the Series 2013-1 Negative Carry Account, if any, shall constitute Series 2013-1 Available Interest Amounts. 
 (d) Upon payment in full of the Outstanding Principal Amount of the Series 2013-1 Notes, any funds remaining on deposit in the Series 2013-1 Negative Carry Account shall be distributed to the holders of
the Certificates. 
 Section 3.13 Principal Funding Account. 

If on any day during the Revolving Period the amounts on deposit in the Series 2013-1 Principal Funding Account exceed the amount
required to maintain the Seller’s Interest at the Minimum Seller’s Interest, the Issuing Entity may withdraw such excess from the Series 2013-1 Principal Funding Account and treat such amount as “Excess Available Principal
Amounts;” provided, however, that such excess shall only be released if after after giving effect to such withdrawal and application and all other deposits, withdrawals and applications to be made on such date, the Seller’s
Interest shall not be less than the Minimum Seller’s Interest, the funds on deposit in the Series 2013-1 Spread Account shall not be less than the Spread Account Required Amount, the funds on deposit in the Series 2013-1 Negative Carry Account
shall not be less than the Required Negative Carry Account Balance, and there is no writedown of the Series 2013-1 Overcollateralization Amount, the Series 2013-1 Collateral Amount or the Outstanding Principal Amount of any Series 2013-1 Notes, in
each case, after giving effect to such deposits, withdrawals and applications. 

  
 32 

 Section 3.14 Reports and Statements to Series 2013-1 Noteholders. 

(a) On each Distribution Date, the Indenture Trustee shall post to the following website, www.sf.citidirect.com, for viewing by each
Series 2013-1 Noteholder, a statement substantially in the form of Exhibit B (the “Servicer Certificate”) prepared and supplied to the Indenture Trustee by the Servicer. 

(b) Not later than the Transfer Date, the Servicer shall deliver to the Owner Trustee, each Series 2013-1 Rating Agency and the Indenture
Trustee the Servicer Certificate. 
 (c) On or before January 31 of each calendar year, beginning with January 31,
2013, the Indenture Trustee shall furnish or cause to be furnished to each Person who at any time during the preceding calendar year was a Series 2013-1 Noteholder, a statement prepared by the Servicer containing the information which is required to
be contained in the statement to Series 2013-1 Noteholders, as set forth in paragraph (a) above, aggregated for such calendar year or the applicable portion thereof during which such Person was a Series 2013-1 Noteholder, together with other
information as is required to be provided by an issuer of indebtedness under the Internal Revenue Code. Such obligation of the Indenture Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be
provided by the Servicer pursuant to any requirements of the Internal Revenue Code as from time to time in effect. 
 (d) Unless
the Indenture Trustee receives written notice of an error or omission related to disbursements provided to Series 2013-1 Noteholders within ninety (90) days of the Series 2013-1 Noteholders’ receipt of the same, the Indenture Trustee shall
have no liability in connection with such and, absent direction by the requisite percentage of the Series 2013-1 Noteholders entitled to direct the Indenture Trustee, no further obligations in connection thereof. 

ARTICLE IV 

MISCELLANEOUS PROVISIONS 
 Section 4.01 Ratification of Indenture. 
 As supplemented by this Indenture
Supplement, the Indenture is in all respects ratified and confirmed and the Indenture as so supplemented by this Indenture Supplement shall be read, taken and construed as one and the same instrument. 

Section 4.02 Counterparts. 
 This Indenture 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 together shall constitute
one and the same instrument. 
 Section 4.03 Governing Law. 

This Indenture Supplement shall be governed by and construed in accordance with the internal laws of the State of New York, without
reference to the conflict of law provisions thereof or any other jurisdiction, other than Section 5-1401 and Section 5-1402 of the New York General Obligations Law, and the obligations, rights and remedies of the parties hereunder shall be
determined in accordance with such laws. 

  
 33 

 Section 4.04 Limitation of Owner Trustee Liability. 

Notwithstanding anything to the contrary, this Indenture Supplement has been countersigned by Deutsche Bank Trust Company Delaware, not
in its individual capacity but solely in its capacity as Owner Trustee. In no event shall Deutsche Bank Trust Company Delaware in its individual capacity or, except as expressly provided in the Trust Agreement, as Owner Trustee have any liability
for the representations, warranties, covenants, agreement or other obligations of Issuing Entity hereunder or in any certificates, notices or agreements delivered pursuant hereto, as to all of which recourse shall be had solely to the assets of
Issuing Entity. For all purposes of this Indenture Supplement, in the performance of its duties or obligations hereunder or in the performance of any duties or obligations of Issuing Entity hereunder, the Owner Trustee shall be subject to, and
entitled to the benefits of, the terms and provisions of the Trust Agreement. 
 Section 4.05 No Registration of the Series
2013-1 Notes under the Securities Act. 
 (a) The Series 2013-1 Notes have not been registered and will not be registered
under the Securities Act, or any state securities laws, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons (as such terms are defined under the Securities Act), except pursuant to an
exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. 
 (b) Each purchaser and any transferor, as applicable, of a Series 2013-1 Note will be deemed to represent and agree that: 
 (i) (x) the purchaser (i) is a “qualified institutional buyer” as defined in Rule 144A under the Securities Act (a “Qualified Institutional Buyer”), (ii) is aware that
the sale to it is being made in reliance on the exemption from registration provided by Rule 144A under the Securities Act and if it is acquiring any such Series 2013-1 Notes or any interest or participation therein for the account of any other
Qualified Institutional Buyer, that other Qualified Institutional Buyer is aware that the sale is being made in reliance on Rule 144A, and (iii) is acquiring the Series 2013-1 Notes or any interest or participation therein for its own account
or for one or more accounts, each of which is a Qualified Institutional Buyer, and as to each of which the purchaser exercises sole investment discretion, and in a principal amount of not less than the minimum denomination of such Series 2013-1 Note
for the purchaser and for each such account; 
 (ii) the purchaser and any transferee understand that the Series 2013-1 Notes
are being offered only in a transaction not involving any public offering in the United States within the meaning of the Securities Act, the Series 2013-1 Notes have not been and will not be registered under the

  
 34 

 
Securities Act or any state or other applicable securities laws, and, if in the future the purchaser or any transferee decides to offer, resell, pledge or otherwise transfer the Series 2013-1
Notes, such Series 2013-1 Notes may be offered, resold, pledged or otherwise transferred only in accordance with the Indenture and this Indenture Supplement and only (a) so long as such Series 2013-1 Notes are eligible for resale pursuant to
Rule 144A, to a person whom the seller reasonably believes is a Qualified Institutional Buyer acquiring the Series 2013-1 Notes for its own account or as a fiduciary or agent for others (which others must also be Qualified Institutional Buyers) to
whom notice is given that the resale or other transfer is being made in reliance on Rule 144A, (b) pursuant to an effective registration statement under the Securities Act (however, there is no undertaking to register the Series 2013-1 Notes
under any United States federal or state securities laws or any securities laws of any other jurisdiction on any future date), or (c) if the Series 2013-1 Notes are not eligible for resale pursuant to Rule 144A, pursuant to an exemption from
registration under the Securities Act other than Rule 144A, and, in each case, in accordance with applicable United States federal or state securities laws or any securities laws of any other applicable jurisdiction. The purchaser and any transferee
acknowledge that no representation is made by the Issuing Entity or any initial purchasers, as the case may be, as to the availability of any exemption under the Securities Act or any applicable state securities laws for resale of the Series 2013-1
Notes; 
 (iii) unless the relevant legend set out below has been removed from the relevant Series 2013-1 Notes, the purchaser
shall notify each transferee of the Series 2013-1 Notes that (a) such Series 2013-1 Notes have not been registered under the Securities Act, (b) the holder of such Series 2013-1 Notes is subject to the restrictions on the resale or other
transfer thereof described in paragraph (ii) above, (c) such transferee shall be deemed to have represented (1) either (A) if the Series 2013-1 Notes are eligible for resale pursuant to Rule 144A, such transferee is a Qualified
Institutional Buyer acquiring the Series 2013-1 Notes for its own account or as a fiduciary for others (which are Qualified Institutional Buyers), or (B) if the Series 2013-1 Notes are not eligible for resale pursuant to Rule 144A, that such
transferee is acquiring such Series 2013-1 Notes in reliance on an exemption under the Securities Act other than Rule 144A, and (2) that such transferee shall notify its subsequent transferees as to the foregoing; 

(iv) the purchaser and any transferee understand that an investment in the Series 2013-1 Notes involves certain risks, including the risk
of loss of all or a substantial part of its investment. The purchaser and any transferee have had access to such financial and other information concerning the Issuing Entity and the Series 2013-1 Notes as it deemed necessary or appropriate in order
to make an informed investment decision with respect to its purchase of the Series 2013-1 Notes, including an opportunity to ask 

  
 35 

 
questions of and request information from the Servicer and the Issuing Entity. The purchaser and any transferee have such knowledge and experience in financial and business matters as to be
capable of evaluating the merits and risks of its investment in the Series 2013-1 Notes, and the purchaser and any transferee and any accounts for which it is acting are each able to bear the economic risk of its investment for an indefinite period
of time; 
 (v) in connection with the purchase of the Series 2013-1 Notes (a) none of the Issuing Entity, any initial
purchasers, the Servicer, NFC, the Depositor or the Indenture Trustee is acting as a fiduciary or financial or investment adviser for the purchaser or any transferee; (b) the purchaser or any transferee is not relying (for purposes of making
any investment decision or otherwise) upon any advice, counsel or representations (whether written or oral) of the Issuing Entity, any initial purchasers, the Servicer, NFC, the Depositor or the Indenture Trustee other than in a current confidential
offering memorandum supplement or the confidential offering memorandum for such Series 2013-1 Notes and any representations expressly set forth in a written agreement with such party; (c) none of the Issuing Entity, any initial purchasers, the
Servicer, NFC, the Depositor or the Indenture Trustee has given to the purchaser or any transferee (directly or indirectly through any other person) any assurance, guarantee, or representation whatsoever as to the expected or projected success,
profitability, return, performance, result, effect, consequence, or benefit (including legal, regulatory, tax, financial, accounting, or otherwise) of its purchase or the documentation for the Series 2013-1 Notes, (d) the purchaser or any
transferee has consulted with its own legal, regulatory, tax, business, investment, financial, and accounting advisers to the extent it has deemed necessary, and it has made its own investment decisions (including decisions regarding the suitability
of any transaction pursuant to the Indenture) based upon its own judgment and upon any advice from such advisers as it has deemed necessary and not upon any view expressed by the Issuing Entity, any initial purchasers, the Servicer, NFC, the
Depositor or the Indenture Trustee, (e) the purchaser or any transferee has determined that the rates, prices or amounts and other terms of the purchase and sale of the Series 2013-1 Notes reflect those in the relevant market for similar
transactions, (f) the purchaser or any transferee is purchasing the Series 2013-1 Notes with a full understanding of all of the terms, conditions and risks thereof (economic and otherwise), and is capable of assuming and willing to assume
(financially and otherwise) these risks, and (g) the purchaser or any transferee is a sophisticated investor familiar with transactions similar to its investment in the Series 2013-1 Notes; 

(vi) the purchaser and each transferee acknowledge that each Series 2013-1 Note will bear a legend to the following effect unless
determined otherwise by the Issuing Entity: 

  
 36 

 THIS NOTE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF
1933, AS AMENDED (THE “SECURITIES ACT”) OR THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES. THIS NOTE MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED, EXCEPT (A) (1) TO A PERSON THAT THE HOLDER REASONABLY
BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES ACT (A “QUALIFIED INSTITUTIONAL BUYER”) WHO IS EITHER PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER, IN
A PRINCIPAL AMOUNT OF NOT LESS THAN $100,000 AND IN INTEGRAL MULTIPLES OF $1,000 IN EXCESS THEREOF, FOR THE PURCHASER AND FOR EACH SUCH ACCOUNT, IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A SO LONG AS THIS NOTE IS ELIGIBLE FOR RESALE
PURSUANT TO RULE 144A, SUBJECT TO THE SATISFACTION OF CERTAIN CONDITIONS SPECIFIED IN THE INDENTURE AND THE INDENTURE SUPPLEMENT, (2) IF THIS NOTE IS NOT ELIGIBLE FOR RESALE PURSUANT TO RULE 144A, PURSUANT TO AN EXEMPTION FROM REGISTRATION
UNDER THE SECURITIES ACT OTHER THAN RULE 144A IN A PRINCIPAL AMOUNT OF NOT LESS THAN $100,000 AND IN INTEGRAL MULTIPLES OF $1,000 IN EXCESS THEREOF, SUBJECT TO THE SATISFACTION OF CERTAIN CONDITIONS SPECIFIED IN THE INDENTURE AND THE INDENTURE
SUPPLEMENT, OR (3) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT (HOWEVER, THERE IS NO UNDERTAKING TO REGISTER THE NOTES UNDER ANY UNITED STATES FEDERAL OR STATE SECURITIES LAWS OR ANY SECURITIES LAWS OF ANY OTHER
JURISDICTION ON ANY FUTURE DATE), AND (B) IN ACCORDANCE WITH THE SECURITIES ACT AND ALL APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES AND ANY OTHER APPLICABLE JURISDICTION. EACH PURCHASER AND TRANSFEREE WILL BE DEEMED TO HAVE
MADE CERTAIN REPRESENTATIONS AND AGREEMENTS SET FORTH IN THE INDENTURE AND THE INDENTURE SUPPLEMENT. ANY TRANSFER IN VIOLATION OF THE FOREGOING WILL BE OF NO FORCE AND EFFECT, WILL BE VOID AB INITIO, AND WILL NOT OPERATE TO TRANSFER ANY RIGHTS TO
THE TRANSFEREE, NOTWITHSTANDING ANY 

  
 37 

 
INSTRUCTIONS TO THE CONTRARY TO THE ISSUING ENTITY, THE INDENTURE TRUSTEE OR ANY INTERMEDIARY. 
 EACH HOLDER OF A NOTE WILL BE DEEMED TO REPRESENT AND WARRANT THAT EITHER (i) IT IS NOT ACQUIRING THE NOTE WITH THE ASSETS OF (A) AN “EMPLOYEE BENEFIT PLAN” AS DEFINED IN SECTION 3(3)
OF THE U.S. EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”) THAT IS SUBJECT TO THE PROVISIONS OF TITLE I OF ERISA, (B) A “PLAN” DESCRIBED IN SECTION 4975(e)(1) OF THE U.S. INTERNAL REVENUE CODE OF 1986,
AS AMENDED (THE “CODE”) THAT IS SUBJECT TO SECTION 4975 OF THE CODE, (C) AN ENTITY WHOSE UNDERLYING ASSETS INCLUDE “PLAN ASSETS” BY REASON OF INVESTMENT BY AN EMPLOYEE BENEFIT PLAN OR PLAN IN SUCH ENTITY OR (D) ANY
OTHER PLAN THAT IS SUBJECT TO ANY LAW THAT IS SUBSTANTIALLY SIMILAR TO ERISA OR SECTION 4975 OF THE CODE OR (ii) THE ACQUISITION AND HOLDING OF THE NOTE WILL NOT GIVE RISE TO A NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR
SECTION 4975 OF THE CODE OR A VIOLATION OF ANY SUBSTANTIALLY SIMILAR APPLICABLE LAW. 
 (vii) each of the purchaser and any
transferee either (x) is not acquiring the notes with the assets of an “employee benefit plan” as defined in Section 3(3) of ERISA that is subject to the provisions of Title I of ERISA, a “plan” described in
Section 4975(e)(1) of the Code that is subject to Section 4975 of the Code, an entity whose underlying assets include “plan assets” by reason of investment by an employee benefit plan or plan in such entity or any other plan that
is subject to any law that is substantially similar to ERISA or Section 4975 of the Code, or (y) its acquisition, holding and disposition of the Series 2013-1 Note will not result in a non-exempt prohibited transaction under
Section 406 of ERISA or Section 4975 of the Code or a violation of any substantially similar law; 
 (viii) the
purchaser and any transferee are not purchasing the Series 2013-1 Notes with a view to the resale, distribution or other disposition thereof in violation of the Securities Act; 

(ix) the purchaser and any transferee will provide notice to each person to whom it proposes to transfer any interest in the Series
2013-1 Notes of the transfer restrictions and representations set forth in the Indenture and this Indenture Supplement, including the exhibits thereto; 

  
 38 

 (x) the purchaser or any transferee acknowledges that the Series 2013-1 Notes do not
represent deposits with or other liabilities of the Indenture Trustee, any initial purchasers, the Servicer, NFC, the Depositor or any entity related to any of them. Unless otherwise expressly provided in the Indenture or this Indenture Supplement,
each of the Indenture Trustee, any initial purchasers, the Servicer, NFC, the Depositor or any entity related to any of them shall not, in any way, be responsible for or stand behind the capital value or the performance of the Series 2013-1 Notes or
the assets held by the Issuing Entity; and 
 (xi) the purchaser acknowledges that the Indenture Trustee, the Issuing Entity,
any initial purchasers, the Servicer, NFC, the Depositor and others will rely upon the truth and accuracy of the foregoing acknowledgments, representations and agreements and agrees that, if any of the acknowledgments, representations or warranties
deemed to have been made by it by virtue of its purchase of a Series 2013-1 Note (or a beneficial interest therein) is no longer accurate, then it shall promptly so notify NFC and the Depositor in writing. 

(c) In the event that the Depositor or an Affiliate of the Depositor holds all or a portion of any class of Series 2013-1 Notes, it shall
be entitled to amend the transfer restrictions applicable to such retained notes without the consent of the Indenture Trustee or any of the Series 2013-1 Noteholders, subject to the requirements of Section 10.01 of the Indenture. 

Section 4.06 Consent to Amendments in Backup Servicing Agreement. 

By its purchase and acceptance of a Series 2013-1 Note, each purchaser thereof shall be deemed to have consented to the terms, provisions
and limitations specified in Exhibit A to the Backup Servicing Agreement which will be applicable upon the appointment of the Backup Servicer as Successor Servicer under the Pooling and Servicing Agreement. 

Section 4.07 Amendments. 
 Notwithstanding anything herein or the Indenture to the contrary, the definitions of “Discount Rate,” “Excess Cash Collateral Trigger,” “Minimum Seller’s Interest,”
“Mismatch Rate,” “Required Seller’s Percentage,” “Series 2013-1 Overcollateralization Factor” and “Spread Account Percentage,” contained in this Indenture Supplement may be amended by the Issuing Entity
upon satisfaction of the Series 2013-1 Rating Agency Condition with respect thereto, but without the consent of any other Person (including any Securityholder). Notice of any such amendment shall be delivered to the Securityholders in accordance
with the Indenture. 

  
 39 

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

					
	NAVISTAR FINANCIAL DEALER NOTE MASTER OWNER TRUST II
		
	By:	 	DEUTSCHE BANK TRUST COMPANY DELAWARE, as Owner Trustee and not in its individual capacity
		
	By:	 	 /s/ Michele HY Voon

	Name:	 	Michele HY Voon
	Title:	 	Attorney-in-fact

  

			
	By:	 	 /s/ Mark DiGiacomo

	Name:	 	Mark DiGiacomo
	Title:	 	Attorney-in-fact
	
	 CITIBANK, N.A., as Indenture Trustee and not in its
 individual capacity

		
	By:	 	 /s/ Jacqueline Suarez

	Name:	 	Jacqueline Suarez
	Title:	 	Vice President

 EXHIBIT A-1 

FORM OF SERIES 2013-1 NOTE, CLASS A 
 THIS NOTE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) OR THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES. THIS
NOTE MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED, EXCEPT (A) (1) TO A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES ACT (A “QUALIFIED
INSTITUTIONAL BUYER”) WHO IS EITHER PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER, IN A PRINCIPAL AMOUNT OF NOT LESS THAN $100,000 AND IN INTEGRAL MULTIPLES OF $1,000 IN EXCESS THEREOF, FOR THE PURCHASER
AND FOR EACH SUCH ACCOUNT, IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A SO LONG AS THIS NOTE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A, SUBJECT TO THE SATISFACTION OF CERTAIN CONDITIONS SPECIFIED IN THE INDENTURE AND THE INDENTURE
SUPPLEMENT, (2) IF THIS NOTE IS NOT ELIGIBLE FOR RESALE PURSUANT TO RULE 144A, PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OTHER THAN RULE 144A IN A PRINCIPAL AMOUNT OF NOT LESS THAN $100,000 AND IN INTEGRAL MULTIPLES OF
$1,000 IN EXCESS THEREOF, SUBJECT TO THE SATISFACTION OF CERTAIN CONDITIONS SPECIFIED IN THE INDENTURE AND THE INDENTURE SUPPLEMENT, OR (3) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT (HOWEVER, THERE IS NO
UNDERTAKING TO REGISTER THE NOTES UNDER ANY UNITED STATES FEDERAL OR STATE SECURITIES LAWS OR ANY SECURITIES LAWS OF ANY OTHER JURISDICTION ON ANY FUTURE DATE), AND (B) IN ACCORDANCE WITH THE SECURITIES ACT AND ALL APPLICABLE SECURITIES LAWS OF
ANY STATE OF THE UNITED STATES AND ANY OTHER APPLICABLE JURISDICTION. EACH PURCHASER AND TRANSFEREE WILL BE DEEMED TO HAVE MADE CERTAIN REPRESENTATIONS AND AGREEMENTS SET FORTH IN THE INDENTURE AND THE INDENTURE SUPPLEMENT. ANY TRANSFER IN VIOLATION
OF THE FOREGOING WILL BE OF NO FORCE AND EFFECT, WILL BE VOID AB INITIO, AND WILL NOT OPERATE TO TRANSFER ANY RIGHTS TO THE TRANSFEREE, NOTWITHSTANDING ANY INSTRUCTIONS TO THE CONTRARY TO THE ISSUING ENTITY, THE INDENTURE TRUSTEE OR ANY
INTERMEDIARY. 
 EACH HOLDER OF THIS NOTE WILL BE DEEMED TO REPRESENT AND WARRANT THAT EITHER (i) IT IS NOT ACQUIRING THIS
NOTE WITH THE ASSETS OF (A) AN “EMPLOYEE BENEFIT PLAN” AS DEFINED IN 

  
 Ex. A-1-1

 
SECTION 3(3) OF THE U.S. EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”) THAT IS SUBJECT TO THE PROVISIONS OF TITLE I OF ERISA, (B) A “PLAN”
DESCRIBED IN SECTION 4975(e)(1) OF THE U.S. INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”) THAT IS SUBJECT TO SECTION 4975 OF THE CODE, (C) AN ENTITY WHOSE UNDERLYING ASSETS INCLUDE “PLAN ASSETS” BY REASON OF
INVESTMENT BY AN EMPLOYEE BENEFIT PLAN OR PLAN IN SUCH ENTITY OR (D) ANY OTHER PLAN THAT IS SUBJECT TO ANY LAW THAT IS SUBSTANTIALLY SIMILAR TO ERISA OR SECTION 4975 OF THE CODE OR (ii) THE ACQUISITION AND HOLDING OF THIS NOTE WILL NOT
GIVE RISE TO A NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE OR A VIOLATION OF ANY SUBSTANTIALLY SIMILAR APPLICABLE LAW. 
 UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUING ENTITY OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR TO SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY
AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

 THE HOLDER OF THIS NOTE BY ITS ACCEPTANCE HEREOF COVENANTS AND AGREES THAT IT SHALL NOT AT ANY TIME INSTITUTE AGAINST THE
ISSUING ENTITY, NAVISTAR FINANCIAL SECURITIES CORPORATION OR NAVISTAR FINANCIAL CORPORATION, OR JOIN IN ANY INSTITUTION AGAINST THE ISSUING ENTITY, NAVISTAR FINANCIAL SECURITIES CORPORATION OR NAVISTAR FINANCIAL CORPORATION, ANY BANKRUPTCY
PROCEEDINGS UNDER ANY UNITED STATES FEDERAL OR STATE BANKRUPTCY OR SIMILAR LAW IN CONNECTION WITH ANY OBLIGATIONS RELATING TO THE NOTES, THE INDENTURE OR THE INDENTURE SUPPLEMENT. 

THE HOLDER OF THIS NOTE, BY ACCEPTANCE OF THIS NOTE, AND EACH HOLDER OF A BENEFICIAL INTEREST IN THIS NOTE, BY THE ACQUISITION OF A
BENEFICIAL INTEREST THEREIN, AGREE TO TREAT THE NOTES AS INDEBTEDNESS FOR APPLICABLE FEDERAL, STATE, AND LOCAL INCOME AND FRANCHISE TAX LAW AND FOR PURPOSES OF ANY OTHER TAX IMPOSED ON OR MEASURED BY INCOME. 

  
 Ex. A-1-2

			
	 A-1 REGISTERED $                
	  	No.      CUSIP NO.
                    

 NAVISTAR FINANCIAL DEALER NOTE MASTER OWNER TRUST II 

FLOATING RATE ASSET BACKED NOTES, SERIES 2013-1 
 Navistar Financial Dealer Note Master Owner Trust II, a statutory trust created under the laws of the State of Delaware (herein referred to as the “Issuing Entity”), for value received,
hereby promises to pay to CEDE & CO., or registered assigns, subject to the following provisions, a principal sum of
                        payable no sooner than on the January 2015 Distribution Date (the “Expected Principal
Distribution Date”), except as otherwise provided below or in the Indenture; provided, however, that the entire unpaid principal amount of this Note shall be due and payable on the January 2018 Distribution Date (the
“Legal Final Maturity Date”). Interest shall accrue on this Note from each Distribution Date (or, in the case of the first Distribution Date, from the date of issuance of this Note) to but excluding the following Distribution Date.
Interest shall be computed on the basis of a 360-day year and the actual number of days elapsed. Such principal of and interest on this Note shall be paid in the manner specified on the reverse hereof. 

The principal of and interest on this Note are payable in such coin or currency of the United States of America as at the time of payment
is legal tender for payment of public and private debts. All payments made by the Issuing Entity with respect to this Note shall be applied first to interest due and payable on this Note as provided above and then to the unpaid principal of this
Note. 
 Reference is made to the further provisions of this Note set forth on the reverse hereof, which shall have the same
effect as though fully set forth on the face of this Note. 
 Unless the certificate of authentication hereon has been executed
by the Indenture Trustee whose name appears below by manual signature, this Note shall not be entitled to any benefit under the Indenture referred to on the reverse hereof, or be valid for any purpose. 

  
 Ex. A-1-3

 IN WITNESS WHEREOF, the Issuing Entity has caused this instrument to be signed, manually or
in facsimile. 
  

					
	NAVISTAR FINANCIAL DEALER NOTE MASTER OWNER TRUST II, as Issuing Entity
		
	By:	 	DEUTSCHE BANK TRUST COMPANY DELAWARE, not in its individual capacity but solely as Owner Trustee under the Trust Agreement
			
		 	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	Date:            , 20

 INDENTURE TRUSTEE’S CERTIFICATE OF AUTHENTICATION This is one of the Notes designated above
and referred to in the within-mentioned Indenture. 
  

			
	CITIBANK, N.A., not in its individual capacity but solely as Indenture Trustee
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	Date:             , 20    

  

  
 Ex. A-1-4

 [REVERSE OF NOTE] 

This Series 2013-1 Note, Class A is one of the Notes of a duly authorized issue of Notes of the Issuing Entity, designated as its
Floating Rate Asset Backed Notes, Series 2013-1 Class A (herein called the “Notes”), all issued under an Indenture dated as of November 2, 2011 (such Indenture, as supplemented or amended, is herein called the
“Indenture”), as supplemented by an Indenture Supplement dated as of February 14, 2013 (the “Indenture Supplement”), between the Issuing Entity and Citibank, N.A., as Indenture Trustee (the “Indenture
Trustee”, which term includes any successor Indenture Trustee under the Indenture), to which Indenture and Indenture Supplement reference is hereby made for a statement of the respective rights and obligations thereunder of the Issuing
Entity, the Indenture Trustee and the Holders of the Notes. The Notes are subject to all terms of the Indenture and the Indenture Supplement. All terms used in this Note that are defined in the Indenture or the Indenture Supplement, each as
supplemented or amended, shall have the meanings assigned to them in or pursuant to the Indenture or the Indenture Supplement, as so supplemented or amended. 
 Each Noteholder or Note Owner, by acceptance of a Note or, in the case of a Note Owner, a beneficial interest in a Note, covenants and agrees that no recourse may be taken, directly or indirectly, with
respect to the obligations of the Issuing Entity, the Owner Trustee or the Indenture Trustee on the Notes or under the Indenture or any certificate or other writing delivered in connection therewith, against (i) the Indenture Trustee or the
Owner Trustee in its individual capacity, (ii) any owner of a beneficial interest in the Issuing Entity, the Owner Trustee or the Indenture Trustee, (iii) any partner, owner, beneficiary, agent, officer, director or employee of the Issuing
Entity, the Indenture Trustee or the Owner Trustee in its individual capacity, or (iv) any holder of a beneficial interest in the Issuing Entity, the Owner Trustee or the Indenture Trustee or of any successor or assign of the Indenture Trustee
or the Owner Trustee in its individual capacity, except as any such Person may have expressly agreed and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration
for stock, unpaid capital contribution or failure to pay any installment or call owing to such entity. 
 Each Noteholder or
Note Owner, by acceptance of a Note or, in the case of a Note Owner, a beneficial interest in a Note, covenants and agrees that by accepting the benefits of the Indenture that such Noteholder shall not at any time institute against Navistar
Financial Securities Corporation, Navistar Financial Corporation or the Issuing Entity, or join in any institution against Navistar Financial Securities Corporation, Navistar Financial Corporation or the Issuing Entity of, any bankruptcy,
reorganization, arrangement, insolvency or liquidation proceedings, or other proceedings under any United States Federal or state bankruptcy or similar law in connection with any obligations relating to the Notes, the Indenture or the Indenture
Supplement. 
 Prior to the due presentment for registration of transfer of this Note, the Issuing Entity, the Indenture Trustee
and any agent of the Issuing Entity or the Indenture Trustee may treat the Person in whose name this Note (as of the day of determination or as of such other date as may be specified in the Indenture) is registered as the owner hereof for all
purposes, whether or not this Note is overdue, and neither the Issuing Entity, the Indenture Trustee nor any such agent shall be affected by notice to the contrary. 

  
 Ex. A-1-5

 THIS NOTE AND THE INDENTURE SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS
OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS (OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW) AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE
WITH SUCH LAWS. 
 No reference herein to the Indenture or the Indenture Supplement and no provision of this Note or of the
Indenture or the Indenture Supplement shall alter or impair the obligation of the Issuing Entity, which is absolute and unconditional, to pay the principal of and interest on this Note at the times, place, and rate, and in the coin or currency
herein prescribed. 

  
 Ex. A-1-6

 ASSIGNMENT 

Social Security or taxpayer I.D. or other identifying number of assignee
                             

 
 FOR VALUE RECEIVED, the undersigned hereby sells, assigns and
transfers unto (name and address of assignee)                          the within Note and all rights thereunder, and
hereby irrevocably constitutes and appoints attorney, to transfer said Note on the books kept for registration thereof, with full power of substitution in the premises. 

 

			
	Dated:	 	  

	
	  

 Signature Guaranteed 

  
 Ex. A-1-7

 EXHIBIT A-2 

FORM OF SERIES 2013-1 NOTE, CLASS B 
 THIS NOTE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) OR THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES. THIS
NOTE MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED, EXCEPT (A) (1) TO A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES ACT (A “QUALIFIED
INSTITUTIONAL BUYER”) WHO IS EITHER PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER, IN A PRINCIPAL AMOUNT OF NOT LESS THAN $100,000 AND IN INTEGRAL MULTIPLES OF $1,000 IN EXCESS THEREOF, FOR THE PURCHASER
AND FOR EACH SUCH ACCOUNT, IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A SO LONG AS THIS NOTE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A, SUBJECT TO THE SATISFACTION OF CERTAIN CONDITIONS SPECIFIED IN THE INDENTURE AND THE INDENTURE
SUPPLEMENT, (2) IF THIS NOTE IS NOT ELIGIBLE FOR RESALE PURSUANT TO RULE 144A, PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OTHER THAN RULE 144A IN A PRINCIPAL AMOUNT OF NOT LESS THAN $100,000 AND IN INTEGRAL MULTIPLES OF
$1,000 IN EXCESS THEREOF, SUBJECT TO THE SATISFACTION OF CERTAIN CONDITIONS SPECIFIED IN THE INDENTURE AND THE INDENTURE SUPPLEMENT, OR (3) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT (HOWEVER, THERE IS NO
UNDERTAKING TO REGISTER THE NOTES UNDER ANY UNITED STATES FEDERAL OR STATE SECURITIES LAWS OR ANY SECURITIES LAWS OF ANY OTHER JURISDICTION ON ANY FUTURE DATE), AND (B) IN ACCORDANCE WITH THE SECURITIES ACT AND ALL APPLICABLE SECURITIES LAWS OF
ANY STATE OF THE UNITED STATES AND ANY OTHER APPLICABLE JURISDICTION. EACH PURCHASER AND TRANSFEREE WILL BE DEEMED TO HAVE MADE CERTAIN REPRESENTATIONS AND AGREEMENTS SET FORTH IN THE INDENTURE AND THE INDENTURE SUPPLEMENT. ANY TRANSFER IN VIOLATION
OF THE FOREGOING WILL BE OF NO FORCE AND EFFECT, WILL BE VOID AB INITIO, AND WILL NOT OPERATE TO TRANSFER ANY RIGHTS TO THE TRANSFEREE, NOTWITHSTANDING ANY INSTRUCTIONS TO THE CONTRARY TO THE ISSUING ENTITY, THE INDENTURE TRUSTEE OR ANY
INTERMEDIARY. 
 EACH HOLDER OF THIS NOTE WILL BE DEEMED TO REPRESENT AND WARRANT THAT EITHER (i) IT IS NOT ACQUIRING THIS
NOTE WITH THE ASSETS OF (A) AN “EMPLOYEE BENEFIT PLAN” AS DEFINED IN 

  
 Ex. A-2-1

 
SECTION 3(3) OF THE U.S. EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”) THAT IS SUBJECT TO THE PROVISIONS OF TITLE I OF ERISA, (B) A “PLAN”
DESCRIBED IN SECTION 4975(e)(1) OF THE U.S. INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”) THAT IS SUBJECT TO SECTION 4975 OF THE CODE, (C) AN ENTITY WHOSE UNDERLYING ASSETS INCLUDE “PLAN ASSETS” BY REASON OF
INVESTMENT BY AN EMPLOYEE BENEFIT PLAN OR PLAN IN SUCH ENTITY OR (D) ANY OTHER PLAN THAT IS SUBJECT TO ANY LAW THAT IS SUBSTANTIALLY SIMILAR TO ERISA OR SECTION 4975 OF THE CODE OR (ii) THE ACQUISITION AND HOLDING OF THIS NOTE WILL NOT
GIVE RISE TO A NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE OR A VIOLATION OF ANY SUBSTANTIALLY SIMILAR APPLICABLE LAW. 
 UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUING ENTITY OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR TO SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY
AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

 THE HOLDER OF THIS NOTE BY ITS ACCEPTANCE HEREOF COVENANTS AND AGREES THAT IT SHALL NOT AT ANY TIME INSTITUTE AGAINST THE
ISSUING ENTITY, NAVISTAR FINANCIAL SECURITIES CORPORATION OR NAVISTAR FINANCIAL CORPORATION, OR JOIN IN ANY INSTITUTION AGAINST THE ISSUING ENTITY, NAVISTAR FINANCIAL SECURITIES CORPORATION OR NAVISTAR FINANCIAL CORPORATION, ANY BANKRUPTCY
PROCEEDINGS UNDER ANY UNITED STATES FEDERAL OR STATE BANKRUPTCY OR SIMILAR LAW IN CONNECTION WITH ANY OBLIGATIONS RELATING TO THE NOTES, THE INDENTURE OR THE INDENTURE SUPPLEMENT. 

THE HOLDER OF THIS NOTE, BY ACCEPTANCE OF THIS NOTE, AND EACH HOLDER OF A BENEFICIAL INTEREST IN THIS NOTE, BY THE ACQUISITION OF A
BENEFICIAL INTEREST THEREIN, AGREE TO TREAT THE NOTES AS INDEBTEDNESS FOR APPLICABLE FEDERAL, STATE, AND LOCAL INCOME AND FRANCHISE TAX LAW AND FOR PURPOSES OF ANY OTHER TAX IMPOSED ON OR MEASURED BY INCOME. 

  
 Ex. A-2-2

			
	 B-1 REGISTERED $            
	  	No.      CUSIP NO.
                    

 NAVISTAR FINANCIAL DEALER NOTE MASTER OWNER TRUST II 

FLOATING RATE ASSET BACKED NOTES, SERIES 2013-1 
 Navistar Financial Dealer Note Master Owner Trust II, a statutory trust created under the laws of the State of Delaware (herein referred to as the “Issuing Entity”), for value received,
hereby promises to pay to CEDE & CO., or registered assigns, subject to the following provisions, a principal sum of
                        payable no sooner than on the January 2015 Distribution Date (the “Expected Principal
Distribution Date”), except as otherwise provided below or in the Indenture; provided, however, that the entire unpaid principal amount of this Note shall be due and payable on the January 2018 Distribution Date (the
“Legal Final Maturity Date”). Interest shall accrue on this Note from each Distribution Date (or, in the case of the first Distribution Date, from the date of issuance of this Note) to but excluding the following Distribution Date.
Interest shall be computed on the basis of a 360-day year and the actual number of days elapsed. Such principal of and interest on this Note shall be paid in the manner specified on the reverse hereof. 

The principal of and interest on this Note are payable in such coin or currency of the United States of America as at the time of payment
is legal tender for payment of public and private debts. All payments made by the Issuing Entity with respect to this Note shall be applied first to interest due and payable on this Note as provided above and then to the unpaid principal of this
Note. 
 Reference is made to the further provisions of this Note set forth on the reverse hereof, which shall have the same
effect as though fully set forth on the face of this Note. 
 Unless the certificate of authentication hereon has been executed
by the Indenture Trustee whose name appears below by manual signature, this Note shall not be entitled to any benefit under the Indenture referred to on the reverse hereof, or be valid for any purpose. 

This Series 2013-1 Note, Class B is subordinate in the right to payment to the Series 2013-1 Notes, Class A in the manner provided
in the Indenture and the Indenture Supplement. 

  
 Ex. A-2-3

 IN WITNESS WHEREOF, the Issuing Entity has caused this instrument to be signed, manually or
in facsimile. 
  

					
	NAVISTAR FINANCIAL DEALER NOTE MASTER OWNER TRUST II, as Issuing Entity
		
	By:	 	DEUTSCHE BANK TRUST COMPANY DELAWARE, not in its individual capacity but solely as Owner Trustee under the Trust Agreement
			
		 	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	Date:             , 20    

 INDENTURE TRUSTEE’S CERTIFICATE OF AUTHENTICATION This is one of the Notes designated above
and referred to in the within-mentioned Indenture. 
  

			
	CITIBANK, N.A., not in its individual capacity but solely as Indenture Trustee
		
	By:	 	  

	Name:	 	
	 Title:
	 	
	
	 Date:             ,
20    

  
 Ex. A-2-4

 [REVERSE OF NOTE] 

This Series 2013-1 Note, Class B is one of the Notes of a duly authorized issue of Notes of the Issuing Entity, designated as its
Floating Rate Asset Backed Notes, Series 2013-1 Class B (herein called the “Notes”), all issued under an Indenture dated as of November 2, 2011 (such Indenture, as supplemented or amended, is herein called the
“Indenture”), as supplemented by an Indenture Supplement dated as of February 14, 2013 (the “Indenture Supplement”), between the Issuing Entity and Citibank, N.A., as Indenture Trustee (the “Indenture
Trustee”, which term includes any successor Indenture Trustee under the Indenture), to which Indenture and Indenture Supplement reference is hereby made for a statement of the respective rights and obligations thereunder of the Issuing
Entity, the Indenture Trustee and the Holders of the Notes. The Notes are subject to all terms of the Indenture and the Indenture Supplement. All terms used in this Note that are defined in the Indenture or the Indenture Supplement, each as
supplemented or amended, shall have the meanings assigned to them in or pursuant to the Indenture or the Indenture Supplement, as so supplemented or amended. 
 Each Noteholder or Note Owner, by acceptance of a Note or, in the case of a Note Owner, a beneficial interest in a Note, covenants and agrees that no recourse may be taken, directly or indirectly, with
respect to the obligations of the Issuing Entity, the Owner Trustee or the Indenture Trustee on the Notes or under the Indenture or any certificate or other writing delivered in connection therewith, against (i) the Indenture Trustee or the
Owner Trustee in its individual capacity, (ii) any owner of a beneficial interest in the Issuing Entity, the Owner Trustee or the Indenture Trustee, (iii) any partner, owner, beneficiary, agent, officer, director or employee of the Issuing
Entity, the Indenture Trustee or the Owner Trustee in its individual capacity, or (iv) any holder of a beneficial interest in the Issuing Entity, the Owner Trustee or the Indenture Trustee or of any successor or assign of the Indenture Trustee
or the Owner Trustee in its individual capacity, except as any such Person may have expressly agreed and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration
for stock, unpaid capital contribution or failure to pay any installment or call owing to such entity. 
 Each Noteholder or
Note Owner, by acceptance of a Note or, in the case of a Note Owner, a beneficial interest in a Note, covenants and agrees that by accepting the benefits of the Indenture that such Noteholder shall not at any time institute against Navistar
Financial Securities Corporation, Navistar Financial Corporation or the Issuing Entity, or join in any institution against Navistar Financial Securities Corporation, Navistar Financial Corporation or the Issuing Entity of, any bankruptcy,
reorganization, arrangement, insolvency or liquidation proceedings, or other proceedings under any United States Federal or state bankruptcy or similar law in connection with any obligations relating to the Notes, the Indenture or the Indenture
Supplement. 
 Prior to the due presentment for registration of transfer of this Note, the Issuing Entity, the Indenture Trustee
and any agent of the Issuing Entity or the Indenture Trustee may treat the Person in whose name this Note (as of the day of determination or as of such other date as may be specified in the Indenture) is registered as the owner hereof for all
purposes, whether or not this Note is overdue, and neither the Issuing Entity, the Indenture Trustee nor any such agent shall be affected by notice to the contrary. 

  
 Ex. A-2-5

 THIS NOTE AND THE INDENTURE SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS
OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS (OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW) AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE
WITH SUCH LAWS. 
 No reference herein to the Indenture or the Indenture Supplement and no provision of this Note or of the
Indenture or the Indenture Supplement shall alter or impair the obligation of the Issuing Entity, which is absolute and unconditional, to pay the principal of and interest on this Note at the times, place, and rate, and in the coin or currency
herein prescribed. 

  
 Ex. A-2-6

 ASSIGNMENT 

Social Security or taxpayer I.D. or other identifying number of assignee
                             
 FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto (name and address of assignee)
                         the within Note and all rights thereunder, and hereby irrevocably constitutes and appoints
attorney, to transfer said Note on the books kept for registration thereof, with full power of substitution in the premises. 
  

			
	Dated:	 	  

	
	  

 Signature Guaranteed 

  
 Ex. A-2-7

 EXHIBIT A-3 

FORM OF SERIES 2013-1 NOTE, CLASS C 
 THIS NOTE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) OR THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES. THIS
NOTE MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED, EXCEPT (A) (1) TO A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES ACT (A “QUALIFIED
INSTITUTIONAL BUYER”) WHO IS EITHER PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER, IN A PRINCIPAL AMOUNT OF NOT LESS THAN $100,000 AND IN INTEGRAL MULTIPLES OF $1,000 IN EXCESS THEREOF, FOR THE PURCHASER
AND FOR EACH SUCH ACCOUNT, IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A SO LONG AS THIS NOTE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A, SUBJECT TO THE SATISFACTION OF CERTAIN CONDITIONS SPECIFIED IN THE INDENTURE AND THE INDENTURE
SUPPLEMENT, (2) IF THIS NOTE IS NOT ELIGIBLE FOR RESALE PURSUANT TO RULE 144A, PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OTHER THAN RULE 144A IN A PRINCIPAL AMOUNT OF NOT LESS THAN $100,000 AND IN INTEGRAL MULTIPLES OF
$1,000 IN EXCESS THEREOF, SUBJECT TO THE SATISFACTION OF CERTAIN CONDITIONS SPECIFIED IN THE INDENTURE AND THE INDENTURE SUPPLEMENT, OR (3) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT (HOWEVER, THERE IS NO
UNDERTAKING TO REGISTER THE NOTES UNDER ANY UNITED STATES FEDERAL OR STATE SECURITIES LAWS OR ANY SECURITIES LAWS OF ANY OTHER JURISDICTION ON ANY FUTURE DATE), AND (B) IN ACCORDANCE WITH THE SECURITIES ACT AND ALL APPLICABLE SECURITIES LAWS OF
ANY STATE OF THE UNITED STATES AND ANY OTHER APPLICABLE JURISDICTION. EACH PURCHASER AND TRANSFEREE WILL BE DEEMED TO HAVE MADE CERTAIN REPRESENTATIONS AND AGREEMENTS SET FORTH IN THE INDENTURE AND THE INDENTURE SUPPLEMENT. ANY TRANSFER IN VIOLATION
OF THE FOREGOING WILL BE OF NO FORCE AND EFFECT, WILL BE VOID AB INITIO, AND WILL NOT OPERATE TO TRANSFER ANY RIGHTS TO THE TRANSFEREE, NOTWITHSTANDING ANY INSTRUCTIONS TO THE CONTRARY TO THE ISSUING ENTITY, THE INDENTURE TRUSTEE OR ANY
INTERMEDIARY. 
 EACH HOLDER OF THIS NOTE WILL BE DEEMED TO REPRESENT AND WARRANT THAT EITHER (i) IT IS NOT ACQUIRING THIS
NOTE WITH THE ASSETS OF (A) AN “EMPLOYEE BENEFIT PLAN” AS DEFINED IN 

  
 Ex. A-3-1

 
SECTION 3(3) OF THE U.S. EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”) THAT IS SUBJECT TO THE PROVISIONS OF TITLE I OF ERISA, (B) A “PLAN”
DESCRIBED IN SECTION 4975(e)(1) OF THE U.S. INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”) THAT IS SUBJECT TO SECTION 4975 OF THE CODE, (C) AN ENTITY WHOSE UNDERLYING ASSETS INCLUDE “PLAN ASSETS” BY REASON OF
INVESTMENT BY AN EMPLOYEE BENEFIT PLAN OR PLAN IN SUCH ENTITY OR (D) ANY OTHER PLAN THAT IS SUBJECT TO ANY LAW THAT IS SUBSTANTIALLY SIMILAR TO ERISA OR SECTION 4975 OF THE CODE OR (ii) THE ACQUISITION AND HOLDING OF THIS NOTE WILL NOT
GIVE RISE TO A NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE OR A VIOLATION OF ANY SUBSTANTIALLY SIMILAR APPLICABLE LAW. 
 UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUING ENTITY OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR TO SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY
AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

 THE HOLDER OF THIS NOTE BY ITS ACCEPTANCE HEREOF COVENANTS AND AGREES THAT IT SHALL NOT AT ANY TIME INSTITUTE AGAINST THE
ISSUING ENTITY, NAVISTAR FINANCIAL SECURITIES CORPORATION OR NAVISTAR FINANCIAL CORPORATION, OR JOIN IN ANY INSTITUTION AGAINST THE ISSUING ENTITY, NAVISTAR FINANCIAL SECURITIES CORPORATION OR NAVISTAR FINANCIAL CORPORATION, ANY BANKRUPTCY
PROCEEDINGS UNDER ANY UNITED STATES FEDERAL OR STATE BANKRUPTCY OR SIMILAR LAW IN CONNECTION WITH ANY OBLIGATIONS RELATING TO THE NOTES, THE INDENTURE OR THE INDENTURE SUPPLEMENT. 

THE HOLDER OF THIS NOTE, BY ACCEPTANCE OF THIS NOTE, AND EACH HOLDER OF A BENEFICIAL INTEREST IN THIS NOTE, BY THE ACQUISITION OF A
BENEFICIAL INTEREST THEREIN, AGREE TO TREAT THE NOTES AS INDEBTEDNESS FOR APPLICABLE FEDERAL, STATE, AND LOCAL INCOME AND FRANCHISE TAX LAW AND FOR PURPOSES OF ANY OTHER TAX IMPOSED ON OR MEASURED BY INCOME. 

  
 Ex. A-3-2

			
	 C-1 REGISTERED $                
	  	No.      CUSIP NO.
                    

 NAVISTAR FINANCIAL DEALER NOTE MASTER OWNER TRUST II 

FLOATING RATE ASSET BACKED NOTES, SERIES 2013-1 
 Navistar Financial Dealer Note Master Owner Trust II, a statutory trust created under the laws of the State of Delaware (herein referred to as the “Issuing Entity”), for value received,
hereby promises to pay to CEDE & CO., or registered assigns, subject to the following provisions, a principal sum of
                        payable no sooner than on the January 2015 Distribution Date (the “Expected Principal
Distribution Date”), except as otherwise provided below or in the Indenture; provided, however, that the entire unpaid principal amount of this Note shall be due and payable on the January 2018 Distribution Date (the
“Legal Final Maturity Date”). Interest shall accrue on this Note from each Distribution Date (or, in the case of the first Distribution Date, from the date of issuance of this Note) to but excluding the following Distribution Date.
Interest shall be computed on the basis of a 360-day year and the actual number of days elapsed. Such principal of and interest on this Note shall be paid in the manner specified on the reverse hereof. 

The principal of and interest on this Note are payable in such coin or currency of the United States of America as at the time of payment
is legal tender for payment of public and private debts. All payments made by the Issuing Entity with respect to this Note shall be applied first to interest due and payable on this Note as provided above and then to the unpaid principal of this
Note. 
 Reference is made to the further provisions of this Note set forth on the reverse hereof, which shall have the same
effect as though fully set forth on the face of this Note. 
 Unless the certificate of authentication hereon has been executed
by the Indenture Trustee whose name appears below by manual signature, this Note shall not be entitled to any benefit under the Indenture referred to on the reverse hereof, or be valid for any purpose. 

This Series 2013-1 Note, Class C is subordinate in the right to payment to the Series 2013-1 Notes, Class A and the Series 2013-1
Notes, Class B in the manner provided in the Indenture and the Indenture Supplement. 

  
 Ex. A-3-3

 IN WITNESS WHEREOF, the Issuing Entity has caused this instrument to be signed, manually or
in facsimile. 
  

					
	NAVISTAR FINANCIAL DEALER NOTE MASTER OWNER TRUST II, as Issuing Entity
		
	By:	 	DEUTSCHE BANK TRUST COMPANY DELAWARE, not in its individual capacity but solely as Owner Trustee under the Trust Agreement
			
		 	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	 Date:             ,
20    

 INDENTURE TRUSTEE’S CERTIFICATE OF AUTHENTICATION This is one of the Notes designated above
and referred to in the within-mentioned Indenture. 
  

			
	CITIBANK, N.A., not in its individual capacity but solely as Indenture Trustee
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	Date:            , 20

  
 Ex. A-3-4

 [REVERSE OF NOTE] 

This Series 2013-1 Note, Class C is one of the Notes of a duly authorized issue of Notes of the Issuing Entity, designated as its
Floating Rate Asset Backed Notes, Series 2013-1 Class C (herein called the “Notes”), all issued under an Indenture dated as of November 2, 2011 (such Indenture, as supplemented or amended, is herein called the
“Indenture”), as supplemented by an Indenture Supplement dated as of February 14, 2013 (the “Indenture Supplement”), between the Issuing Entity and Citibank, N.A., as Indenture Trustee (the “Indenture
Trustee”, which term includes any successor Indenture Trustee under the Indenture), to which Indenture and Indenture Supplement reference is hereby made for a statement of the respective rights and obligations thereunder of the Issuing
Entity, the Indenture Trustee and the Holders of the Notes. The Notes are subject to all terms of the Indenture and the Indenture Supplement. All terms used in this Note that are defined in the Indenture or the Indenture Supplement, each as
supplemented or amended, shall have the meanings assigned to them in or pursuant to the Indenture or the Indenture Supplement, as so supplemented or amended. 
 Each Noteholder or Note Owner, by acceptance of a Note or, in the case of a Note Owner, a beneficial interest in a Note, covenants and agrees that no recourse may be taken, directly or indirectly, with
respect to the obligations of the Issuing Entity, the Owner Trustee or the Indenture Trustee on the Notes or under the Indenture or any certificate or other writing delivered in connection therewith, against (i) the Indenture Trustee or the
Owner Trustee in its individual capacity, (ii) any owner of a beneficial interest in the Issuing Entity, the Owner Trustee or the Indenture Trustee, (iii) any partner, owner, beneficiary, agent, officer, director or employee of the Issuing
Entity, the Indenture Trustee or the Owner Trustee in its individual capacity, or (iv) any holder of a beneficial interest in the Issuing Entity, the Owner Trustee or the Indenture Trustee or of any successor or assign of the Indenture Trustee
or the Owner Trustee in its individual capacity, except as any such Person may have expressly agreed and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration
for stock, unpaid capital contribution or failure to pay any installment or call owing to such entity. 
 Each Noteholder or
Note Owner, by acceptance of a Note or, in the case of a Note Owner, a beneficial interest in a Note, covenants and agrees that by accepting the benefits of the Indenture that such Noteholder shall not at any time institute against Navistar
Financial Securities Corporation, Navistar Financial Corporation or the Issuing Entity, or join in any institution against Navistar Financial Securities Corporation, Navistar Financial Corporation or the Issuing Entity of, any bankruptcy,
reorganization, arrangement, insolvency or liquidation proceedings, or other proceedings under any United States Federal or state bankruptcy or similar law in connection with any obligations relating to the Notes, the Indenture or the Indenture
Supplement. 
 Prior to the due presentment for registration of transfer of this Note, the Issuing Entity, the Indenture Trustee
and any agent of the Issuing Entity or the Indenture Trustee may treat the Person in whose name this Note (as of the day of determination or as of such other date as may be specified in the Indenture) is registered as the owner hereof for all
purposes, whether or not this Note is overdue, and neither the Issuing Entity, the Indenture Trustee nor any such agent shall be affected by notice to the contrary. 

  
 Ex. A-3-5

 THIS NOTE AND THE INDENTURE SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS
OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS (OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW) AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE
WITH SUCH LAWS. 
 No reference herein to the Indenture or the Indenture Supplement and no provision of this Note or of the
Indenture or the Indenture Supplement shall alter or impair the obligation of the Issuing Entity, which is absolute and unconditional, to pay the principal of and interest on this Note at the times, place, and rate, and in the coin or currency
herein prescribed. 

  
 Ex. A-3-6

 ASSIGNMENT 

Social Security or taxpayer I.D. or other identifying number of assignee
                     

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto (name and address of assignee)
                     the within Note and all rights thereunder, and hereby irrevocably constitutes and appoints attorney, to transfer said
Note on the books kept for registration thereof, with full power of substitution in the premises. 
  

			
	Dated:	 	  

	
	
	  

	Signature Guaranteed

  
 Ex. A-3-7

 EXHIBIT A-4 

FORM OF SERIES 2013-1 NOTE, CLASS D 
 THIS NOTE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) OR THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES. THIS
NOTE MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED, EXCEPT (A) (1) TO A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES ACT (A “QUALIFIED
INSTITUTIONAL BUYER”) WHO IS EITHER PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER, IN A PRINCIPAL AMOUNT OF NOT LESS THAN $100,000 AND IN INTEGRAL MULTIPLES OF $1,000 IN EXCESS THEREOF, FOR THE PURCHASER
AND FOR EACH SUCH ACCOUNT, IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A SO LONG AS THIS NOTE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A, SUBJECT TO THE SATISFACTION OF CERTAIN CONDITIONS SPECIFIED IN THE INDENTURE AND THE INDENTURE
SUPPLEMENT, (2) IF THIS NOTE IS NOT ELIGIBLE FOR RESALE PURSUANT TO RULE 144A, PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OTHER THAN RULE 144A IN A PRINCIPAL AMOUNT OF NOT LESS THAN $100,000 AND IN INTEGRAL MULTIPLES OF
$1,000 IN EXCESS THEREOF, SUBJECT TO THE SATISFACTION OF CERTAIN CONDITIONS SPECIFIED IN THE INDENTURE AND THE INDENTURE SUPPLEMENT, OR (3) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT (HOWEVER, THERE IS NO
UNDERTAKING TO REGISTER THE NOTES UNDER ANY UNITED STATES FEDERAL OR STATE SECURITIES LAWS OR ANY SECURITIES LAWS OF ANY OTHER JURISDICTION ON ANY FUTURE DATE), AND (B) IN ACCORDANCE WITH THE SECURITIES ACT AND ALL APPLICABLE SECURITIES LAWS OF
ANY STATE OF THE UNITED STATES AND ANY OTHER APPLICABLE JURISDICTION. EACH PURCHASER AND TRANSFEREE WILL BE DEEMED TO HAVE MADE CERTAIN REPRESENTATIONS AND AGREEMENTS SET FORTH IN THE INDENTURE AND THE INDENTURE SUPPLEMENT. ANY TRANSFER IN VIOLATION
OF THE FOREGOING WILL BE OF NO FORCE AND EFFECT, WILL BE VOID AB INITIO, AND WILL NOT OPERATE TO TRANSFER ANY RIGHTS TO THE TRANSFEREE, NOTWITHSTANDING ANY INSTRUCTIONS TO THE CONTRARY TO THE ISSUING ENTITY, THE INDENTURE TRUSTEE OR ANY
INTERMEDIARY. 
 EACH HOLDER OF THIS NOTE WILL BE DEEMED TO REPRESENT AND WARRANT THAT EITHER (i) IT IS NOT ACQUIRING THIS
NOTE WITH THE ASSETS OF (A) AN “EMPLOYEE BENEFIT PLAN” AS DEFINED IN 

  
 Ex. A-4-1

 
SECTION 3(3) OF THE U.S. EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”) THAT IS SUBJECT TO THE PROVISIONS OF TITLE I OF ERISA, (B) A “PLAN”
DESCRIBED IN SECTION 4975(e)(1) OF THE U.S. INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”) THAT IS SUBJECT TO SECTION 4975 OF THE CODE, (C) AN ENTITY WHOSE UNDERLYING ASSETS INCLUDE “PLAN ASSETS” BY REASON OF
INVESTMENT BY AN EMPLOYEE BENEFIT PLAN OR PLAN IN SUCH ENTITY OR (D) ANY OTHER PLAN THAT IS SUBJECT TO ANY LAW THAT IS SUBSTANTIALLY SIMILAR TO ERISA OR SECTION 4975 OF THE CODE OR (ii) THE ACQUISITION AND HOLDING OF THIS NOTE WILL NOT
GIVE RISE TO A NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE OR A VIOLATION OF ANY SUBSTANTIALLY SIMILAR APPLICABLE LAW. 
 UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUING ENTITY OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR TO SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY
AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

 THE HOLDER OF THIS NOTE BY ITS ACCEPTANCE HEREOF COVENANTS AND AGREES THAT IT SHALL NOT AT ANY TIME INSTITUTE AGAINST THE
ISSUING ENTITY, NAVISTAR FINANCIAL SECURITIES CORPORATION OR NAVISTAR FINANCIAL CORPORATION, OR JOIN IN ANY INSTITUTION AGAINST THE ISSUING ENTITY, NAVISTAR FINANCIAL SECURITIES CORPORATION OR NAVISTAR FINANCIAL CORPORATION, ANY BANKRUPTCY
PROCEEDINGS UNDER ANY UNITED STATES FEDERAL OR STATE BANKRUPTCY OR SIMILAR LAW IN CONNECTION WITH ANY OBLIGATIONS RELATING TO THE NOTES, THE INDENTURE OR THE INDENTURE SUPPLEMENT. 

THE HOLDER OF THIS NOTE, BY ACCEPTANCE OF THIS NOTE, AND EACH HOLDER OF A BENEFICIAL INTEREST IN THIS NOTE, BY THE ACQUISITION OF A
BENEFICIAL INTEREST THEREIN, AGREE TO TREAT THE NOTES AS INDEBTEDNESS FOR APPLICABLE FEDERAL, STATE, AND LOCAL INCOME AND FRANCHISE TAX LAW AND FOR PURPOSES OF ANY OTHER TAX IMPOSED ON OR MEASURED BY INCOME. 

  
 Ex. A-4-2

			
	 C-1 REGISTERED
$                    
	 	No.      CUSIP
NO.                    

 NAVISTAR FINANCIAL DEALER NOTE MASTER OWNER TRUST II 

FLOATING RATE ASSET BACKED NOTES, SERIES 2013-1 
 Navistar Financial Dealer Note Master Owner Trust II, a statutory trust created under the laws of the State of Delaware (herein referred to as the “Issuing Entity”), for value received,
hereby promises to pay to CEDE & CO., or registered assigns, subject to the following provisions, a principal sum of
                            payable no sooner than on the January 2015 Distribution Date (the
“Expected Principal Distribution Date”), except as otherwise provided below or in the Indenture; provided, however, that the entire unpaid principal amount of this Note shall be due and payable on the January 2018
Distribution Date (the “Legal Final Maturity Date”). Interest shall accrue on this Note from each Distribution Date (or, in the case of the first Distribution Date, from the date of issuance of this Note) to but excluding the
following Distribution Date. Interest shall be computed on the basis of a 360-day year and the actual number of days elapsed. Such principal of and interest on this Note shall be paid in the manner specified on the reverse hereof. 

The principal of and interest on this Note are payable in such coin or currency of the United States of America as at the time of payment
is legal tender for payment of public and private debts. All payments made by the Issuing Entity with respect to this Note shall be applied first to interest due and payable on this Note as provided above and then to the unpaid principal of this
Note. 
 Reference is made to the further provisions of this Note set forth on the reverse hereof, which shall have the same
effect as though fully set forth on the face of this Note. 
 Unless the certificate of authentication hereon has been executed
by the Indenture Trustee whose name appears below by manual signature, this Note shall not be entitled to any benefit under the Indenture referred to on the reverse hereof, or be valid for any purpose. 

This Series 2013-1 Note, Class D is subordinate in the right to payment to the Series 2013-1 Notes, Class A, the Series 2013-1
Notes, Class B, and the Series 2013-1 Notes, Class C in the manner provided in the Indenture and the Indenture Supplement. 

  
 Ex. A-4-3

 IN WITNESS WHEREOF, the Issuing Entity has caused this instrument to be signed, manually or
in facsimile. 
  

					
	NAVISTAR FINANCIAL DEALER NOTE MASTER OWNER TRUST II, as Issuing Entity
		
	By:	 	DEUTSCHE BANK TRUST COMPANY DELAWARE, not in its individual capacity but solely as Owner Trustee under the Trust Agreement
			
		 	By:	 	  

		 	 Name:

		 	 Title:

	
	 Date:
                    , 20        

 INDENTURE TRUSTEE’S CERTIFICATE OF AUTHENTICATION This is one of the Notes designated above
and referred to in the within-mentioned Indenture. 
  

			
	 CITIBANK, N.A., not in its individual capacity but solely as Indenture Trustee

		
	By:	 	  

	Name:
	Title:
	
	Date:                     ,
20        

  
 Ex. A-4-4

 [REVERSE OF NOTE] 

This Series 2013-1 Note, Class D is one of the Notes of a duly authorized issue of Notes of the Issuing Entity, designated as its
Floating Rate Asset Backed Notes, Series 2013-1 Class D (herein called the “Notes”), all issued under an Indenture dated as of November 2, 2011 (such Indenture, as supplemented or amended, is herein called the
“Indenture”), as supplemented by an Indenture Supplement dated as of February 14, 2013 (the “Indenture Supplement”), between the Issuing Entity and Citibank, N.A., as Indenture Trustee (the “Indenture
Trustee”, which term includes any successor Indenture Trustee under the Indenture), to which Indenture and Indenture Supplement reference is hereby made for a statement of the respective rights and obligations thereunder of the Issuing
Entity, the Indenture Trustee and the Holders of the Notes. The Notes are subject to all terms of the Indenture and the Indenture Supplement. All terms used in this Note that are defined in the Indenture or the Indenture Supplement, each as
supplemented or amended, shall have the meanings assigned to them in or pursuant to the Indenture or the Indenture Supplement, as so supplemented or amended. 
 Each Noteholder or Note Owner, by acceptance of a Note or, in the case of a Note Owner, a beneficial interest in a Note, covenants and agrees that no recourse may be taken, directly or indirectly, with
respect to the obligations of the Issuing Entity, the Owner Trustee or the Indenture Trustee on the Notes or under the Indenture or any certificate or other writing delivered in connection therewith, against (i) the Indenture Trustee or the
Owner Trustee in its individual capacity, (ii) any owner of a beneficial interest in the Issuing Entity, the Owner Trustee or the Indenture Trustee, (iii) any partner, owner, beneficiary, agent, officer, director or employee of the Issuing
Entity, the Indenture Trustee or the Owner Trustee in its individual capacity, or (iv) any holder of a beneficial interest in the Issuing Entity, the Owner Trustee or the Indenture Trustee or of any successor or assign of the Indenture Trustee
or the Owner Trustee in its individual capacity, except as any such Person may have expressly agreed and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration
for stock, unpaid capital contribution or failure to pay any installment or call owing to such entity. 
 Each Noteholder or
Note Owner, by acceptance of a Note or, in the case of a Note Owner, a beneficial interest in a Note, covenants and agrees that by accepting the benefits of the Indenture that such Noteholder shall not at any time institute against Navistar
Financial Securities Corporation, Navistar Financial Corporation or the Issuing Entity, or join in any institution against Navistar Financial Securities Corporation, Navistar Financial Corporation or the Issuing Entity of, any bankruptcy,
reorganization, arrangement, insolvency or liquidation proceedings, or other proceedings under any United States Federal or state bankruptcy or similar law in connection with any obligations relating to the Notes, the Indenture or the Indenture
Supplement. 
 Prior to the due presentment for registration of transfer of this Note, the Issuing Entity, the Indenture Trustee
and any agent of the Issuing Entity or the Indenture Trustee may treat the Person in whose name this Note (as of the day of determination or as of such other date as may be specified in the Indenture) is registered as the owner hereof for all
purposes, whether or not this Note is overdue, and neither the Issuing Entity, the Indenture Trustee nor any such agent shall be affected by notice to the contrary. 

  
 Ex. A-4-5

 THIS NOTE AND THE INDENTURE SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS
OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS (OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW) AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE
WITH SUCH LAWS. 
 No reference herein to the Indenture or the Indenture Supplement and no provision of this Note or of the
Indenture or the Indenture Supplement shall alter or impair the obligation of the Issuing Entity, which is absolute and unconditional, to pay the principal of and interest on this Note at the times, place, and rate, and in the coin or currency
herein prescribed. 

  
 Ex. A-4-6

 ASSIGNMENT 

Social Security or taxpayer I.D. or other identifying number of assignee
                         
 FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto (name and address of assignee)
                     the within Note and all rights thereunder, and hereby irrevocably constitutes and appoints attorney, to transfer said
Note on the books kept for registration thereof, with full power of substitution in the premises. 
  

			
	Dated:	 	  

	
	
	  

	Signature Guaranteed

  

  
 Ex. A-4-7

 EXHIBIT B 

FORM OF MONTHLY SERVICER AND SETTLEMENT CERTIFICATE 
 NOTE STATEMENT 
 MONTHLY SERVICER AND SETTLEMENT CERTIFICATE # 01 

NAVISTAR FINANCIAL DEALER NOTE MASTER OWNER TRUST II 
 SERIES 2013-1 NOTES 
 Under the Series 2013-1 Indenture Supplement dated as
of                         , 2013 (the “Indenture Supplement”) by and among the Navistar Financial Dealer Note Master
Owner Trust II (the “Master Owner Trust II”) and the Citibank, N.A., as trustee (the “Indenture
Trustee”), the information which is required to be
prepared with respect to the Payment Date of                     , 2013, the Transfer Date
of             , 2013 and with respect to the performance of the Master Owner Trust II during the Due Period ended
on                 , 2013 and the Distribution Period ended on             , 2013 is set forth below. Certain
of the information is presented on the basis of an original principal amount of $1,000 per Note. Certain other information is presented based on the aggregate amounts for the Master Owner Trust II as a whole. Capitalized terms used but not
otherwise defined herein shall have the meanings assigned to such terms in the Indenture Supplement. 
  

							
	 	1	  	  	NFC is Servicer under the Agreement.	  	
			
	 	2	  	  	The undersigned is a Servicing Officer.	  	
			
	 	3	  	  	Master Trust II Information.	  	
			
	 	3.1	  	  	The amount of the Advance, if any, for the Due Period	  	0.00
			
	 	3.2	  	  	The amount of ITEC Finance Charges for the Due Period	  	0.00
			
	 	3.3	  	  	The average daily balance of Dealer Notes outstanding during the Due Period	  	0.00
			
	 	3.4	  	  	The total amount of Advance Reimbursements for the Due Period	  	0.00
			
	 	3.5	  	  	The aggregate principal amount of Dealer Notes repaid during the Due Period	  	0.00
			
	 	3.6	  	  	The aggregate principal amount of Dealer Notes purchased by the Master Trust II during the Due Period	  	0.00
			
	 	3.7.1	  	  	The amount of the Servicing Fee for the Due Period	  	0.00
			
	 	3.7.2	  	  	The amount of the Backup Servicing Fee for the Due Period	  	0.00
			
	 	3.7.3	  	  	The amount of the Backup Servicing Expenses for the Due Period	  	0.00
			
	 	3.8	  	  	The average daily Master Trust II Seller’s Interest during the Due Period	  	0.00
			
	 	3.9	  	  	The Master Trust II Seller’s Interest as of the Distribution Date (after giving effect to the transactions set forth in Article IV of the Supplement)	  	0.00
			
	 	3.10	  	  	The aggregate amount of Collections for the Due Period	  	0.00
			
	 	3.11	  	  	The aggregate amount of Finance Charge Collections for the Due Period	  	0.00
			
	 	3.12	  	  	The aggregate amount of Principal Collections for the Due Period	  	0.00
			
	 	3.13	  	  	The amount of Dealer Note Losses/(Recoveries) for the Due Period	  	0.00
			
	 	3.14	  	  	The aggregate amount of Dealer Notes as of the last day of the Due Period	  	0.00

  
 Ex. B-1

									
	 	3.15	  	  	The aggregate amount of funds on deposit in the Excess Funding Account as of the end of the last day of the Due Period (after giving effect to the transactions set forth in
Article IV of the Supplement and Article IVof the Agreement)	  	 	0.00	  
			
	 	3.16	  	  	Eligible Investments in the Excess Funding Account:	  			
			
				  	 a.      The aggregate amount of funds invested in Eligible Investments as of the end of the Due
Period
	  	 	0.00	  
			
				  	 b.      Description of each Eligible Investment:
	  	 	JP Morgan Prime Money Market Fund	  
			
				  	 c.      The rate of interest applicable to each such Eligible Investment
	  	 	0.00	% 
			
				  	 d.      The rating of each such Eligible Investment
	  	 	AAAm/Aaa	  
			
	 	3.17	  	  	The aggregate amount of Dealer Notes issued to finance OEM Vehicles, as of the end of the Due Period	  	 	0.00	  
			
	 	3.18	  	  	The Dealers with the five largest aggregate outstanding principal amounts of Dealer Notes in the Master Trust II as of the end of the Due Period:	  			
			
				  	i)	  			
				  	ii)	  			
				  	iii)	  			
				  	iv)	  			
				  	v)	  			
			
	 	3.19	  	  	Aggregate amount of delinquent principal payments (past due greater than 30 days) as a percentage of the total principal amount outstanding, as of the end of the Due
Period	  	 	0.00	% 
			
	 	3.20	  	  	The aggregate amount of Dealer Notes issued to finance used vehicles, as of the end of the Due Period	  	 	0.00	  
			
	 	3.21	  	  	The aggregate amount of funds on deposit in the Servicer Transition Fee Account as of the end of the last day of the Due Period (after giving effect to the transactions set forth
in Article IV of the Supplement)	  	 	0.00	  
			
	 	3.22	  	  	Eligible Investments in the Servicer Transition Fee Account:	  			
			
				  	 a.      The aggregate amount of funds invested in Eligible Investments
	  	 	0.00	  
			
				  	 b.      Description of each Eligible Investment:
	  	 	JP Morgan Prime Money Market Fund	  
			
				  	 c.      The rate of interest applicable to each such Eligible Investment
	  	 	0.00	% 
			
				  	 d.      The rating of each such Eligible Investment
	  	 	AAAm/Aaa	  
			
				  		  			
			
	 	3.23	  	  	The aggregate amount of funds on deposit in the Servicer Transition Fee Account as of the Distribution Date (after giving effect to the transactions set forth in Article IV of
the Supplement and to the payments made on the Distribution Date)	  	 	0.00	  
			
	 	4.0	  	  	[RESERVED]	  			

  
 Ex. B-2

									
			
	 	5	  	  	Series 2013-1 Notes Information	  			
			
	 	5.1	  	  	Series 2013-1 Nominal Liquidation Amount as of the Transfer Date (after giving effect to the transactions set forth in Article III of the Series 2013-1 Indenture Supplement and
to payments made on the Payment Date).	  	 	0.00	  
			
				  	Cumulative Reductions (Net of Reinstatements) of the Series 2013-1 Nominal Liquidation Amount, if any, as of the Transfer Date	  	 	0.00	  
			
	 	5.2	  	  	Series 2013-1 Collateral Amount as of the Transfer Date (after giving effect to the transactions set forth in Article III of the Series 2013-1 Indenture Supplement and to
payments made on the Payment Date).	  	 	0.00	  
			
	 	5.3	  	  	Series 2013-1 Overcollateralization Amount as of the Transfer Date (after giving effect to the transactions set forth in Article III of the Series 2013-1 Indenture Supplement and
to payments made on the Payment Date).	  	 	0.00	  
			
				  	Series 2013-1 Target Overcollateralization Amount, if any, as of the Transfer Date	  	 	0.00	  
			
				  	Cumulative Reductions (Net of Reinstatements) of the Series 2013-1 Overcollateralization Amount Deficiency, if any, as of the Transfer Date	  	 	0.00	  
			
	 	5.4	  	  	Series 2013-1 Allocated Dealer Note Losses / (Recoveries) for the Due Period	  	 	0.00	  
			
	 	5.5	  	  	Series 2013-1 Allocated Interest Amounts for the Due Period	  	 	0.00	  
			
	 	5.6	  	  	Series 2013-1 Allocated Principal Amounts for the Due Period	  	 	0.00	  
			
	 	5.7	  	  	Series 2013-1 Noteholders Allocated Dealer Note Losses / (Recoveries) for the Due Period	  	 	0.00	  
			
	 	5.8	  	  	Series 2013-1 Available Interest Amounts with respect to the Due Period	  	 	0.00	  
			
	 	5.9	  	  	Series 2013-1 Available Principal Amounts with respect to the Due Period	  	 	0.00	  
			
	 	5.10	  	  	Shortfall in Series Available Principal Amounts, if any, for the Due Period	  	 	0.00	  
			
	 	5.11	  	  	Sellers Invested Amount for the Series 2013-1 Notes for the Due Period	  	 	0.00	  
			
	 	5.12	  	  	Shortfall in Series Available Interest Amounts, if any, for the Due Period	  	 	0.00	  
			
	 	5.13	  	  	Unreimbursed reductions to the Series 2013-1 Collateral Amount, if any, for the Due Period	  	 	0.00	  
			
	 	5.14	  	  	Nominal Liquidation Amount plus Accrued and Unpaid Interest as of the Transfer Date	  	 	0.00	  
			
	 	5.15	  	  	Series 2013-1 Required Seller’s Invested Amount as of the Payment Date	  	 	0.00	  

  
 Ex. B-3

							
			
	 	5.16	  	  	Series 2013-1 Controlled Accumulation Amount, if any, for the Due Period	  	0.00
			
	 	5.17	  	  	Series 2013-1 Controlled Deposit Amount, if any, for the Due Period	  	0.00
			
	 	5.18	  	  	Series Variable Allocation Percentage for the Due Period	  	0.00%
			
	 	5.19	  	  	Series Fixed Allocation Percentage for the Due Period	  	0.00%
			
	 	5.20	  	  	Total amount to be distributed on the Series 2013-1 Notes on the Payment Date	  	0.00
			
	 	5.21	  	  	Total amount, if any, to be distributed on the Series 2013-1 Notes on the Payment Date allocable to the Outstanding Principal Amount	  	0.00
			
	 	5.22	  	  	Total amount to be distributed on the Series 2013-1 Notes on the Payment Date allocable to interest on the Series 2013-1 Notes	  	0.00
			
	 	5.23.1	  	  	Series 2013-1 Servicing Fee to be paid on the Payment Date	  	0.00
			
	 	5.23.2	  	  	Series 2013-1 Backup Servicing Expenses to be paid on the Payment Date	  	0.00
			
	 	5.23.3	  	  	Series 2013-1 Backup Servicing Fee to be paid on the Payment Date	  	0.00
			
	 	5.24.1	  	  	Series 2013-1 Investment Income	  	0.00
			
	 	5.24.2	  	  	Series 2013-1 Principal Funding Account investment income	  	0.00
			
	 	5.24.3	  	  	Series 2013-1 Negative Carry Account investment income	  	0.00
			
	 	5.24.4	  	  	Series 2013-1 Interest Funding Account investment income	  	0.00
			
	 	5.24.5	  	  	Series 2013-1 Spread Account investment income	  	0.00
			
	 	5.25	  	  	Series Excess Available Interest Amounts for the Due Period	  	0.00
			
	 	5.26	  	  	Excess Available Interest Amounts for the Due Period allocated to other Series of Notes	  	0.00
			
	 	5.27	  	  	[RESERVED]	  	
			
	 	5.28	  	  	Excess Available Principal Collections allocated from other series of Notes to Series 2013-1 for the Due Period	  	0.00
			
	 	5.29	  	  	[RESERVED]	  	

  
 Ex. B-4

									
	 	5.30	  	  	Amount of Excess Available Principal Collections allocated to other Series of Notes for the Due Period	  	 	0.00	  
			
	 	5.31	  	  	Cash Collateral Percentage as of the Transfer Date	  	 	0.00	% 
			
	 	5.32	  	  	Mismatch Amount for the Series 2013-1 Notes for the Due Period	  	 	0.00	  
			
	 	5.33	  	  	Reimbursement Amount for the Series 2013-1 Notes for the Due Period	  	 	0.00	  
			
	 	5.34	  	  	Certain amounts and calculations referenced in the definition of Early Redemption Event	  	 	See Exhibit “A”	  
			
	 	6	  	  	Account Information	  			
			
	 	6.1	  	  	Series 2013-1 Spread Account Balance as of the Payment Date after giving effect to all withdrawals and deposits made on such Payment Date	  	 	0.00	  
			
				  	Series 2013-1 Spread Account Required Amount, if any, as of the Payment Date after giving effect to all withdrawals and deposits made on such Payment Date	  	 	0.00	  
			
	 	6.2	  	  	Series 2013-1 Principal Funding Account Balance as of the Payment Date after giving effect to all withdrawals and deposits made on such Payment Date	  	 	0.00	  
			
	 	6.3	  	  	Series 2013-1 Negative Carry Account Balance as of the Payment Date after giving effect to all withdrawals and deposits made on such Payment Date	  	 	0.00	  
			
				  	Series 2013-1 Required Negative Carry Account Balance, if any, as of the Payment Date after giving effect to all withdrawals and deposits made on such Payment Date	  	 	0.00	  
			
	 	6.4	  	  	Series 2013-1 Interest Funding Account Balance as of the Payment Date after giving effect to all withdrawals and deposits made on such Payment Date	  	 	0.00	  
			
	 	7	  	  	Class A Notes Information	  			
			
	 	7.1	  	  	Class A Outstanding Principal Amount as of the Payment Date after giving effect to the transactions made on such Payment Date	  	 	0.00	  
			
	 	7.2	  	  	Class A Nominal Liquidation Amount as of the Payment Date after giving effect to the transactions made on such Payment Date	  	 	0.00	  
			
	 	7.3	  	  	Total amount to be distributed on the Class A Notes on the Payment Date	  	 	0.00	  
			
	 	7.4	  	  	Total amount, if any, to be distributed on the Class A Notes on the Payment Date allocable to the Class A Outstanding Principal Amount	  	 	0.00	  
			
	 	7.5	  	  	Total amount to be distributed on the Class A Notes on the Payment Date allocable interest on the Class A Notes	  	 	0.00	  
			
	 	7.6	  	  	Class A Monthly Interest for the Interest Period	  	 	0.00	  

  
 Ex. B-5

									
	 	8	  	  	Class B Notes Information	  			
			
	 	8.1	  	  	Class B Outstanding Principal Amount as of the Payment Date after giving effect to the transactions made on such Payment Date	  	 	0.00	  
			
	 	8.2	  	  	Class B Nominal Liquidation Amount as of the Payment Date after giving effect to the transactions made on such Payment Date	  	 	0.00	  
			
	 	8.3	  	  	Total amount to be distributed on the Class B Notes on the Payment Date	  	 	0.00	  
			
	 	8.4	  	  	Total amount, if any, to be distributed on the Class B Notes on the Payment Date allocable to the Class B Outstanding Principal Amount	  	 	0.00	  
			
	 	8.5	  	  	Total amount to be distributed on the Class B Notes on the Payment Date allocable interest on the Class B Notes	  	 	0.00	  
			
	 	8.6	  	  	Class B Monthly Interest for the Interest Period	  	 	0.00	  
			
	 	9	  	  	Class C Notes Information	  			
			
	 	9.1	  	  	Class C Outstanding Principal Amount as of the Payment Date after giving effect to the transactions made on such Payment Date	  	 	0.00	  
			
	 	9.2	  	  	Class C Nominal Liquidation Amount as of the Payment Date after giving effect to the transactions made on such Payment Date	  	 	0.00	  
			
	 	9.3	  	  	Total amount to be distributed on the Class C Notes on the Payment Date	  	 	0.00	  
			
	 	9.4	  	  	Total amount, if any, to be distributed on the Class C Notes on the Payment Date allocable to the Class C Outstanding Principal Amount	  	 	0.00	  
			
	 	9.5	  	  	Total amount to be distributed on the Class C Notes on the Payment Date allocable interest on the Class C Notes	  	 	0.00	  
			
	 	9.6	  	  	Class C Monthly Interest for the Interest Period	  	 	0.00	  
			
	 	10	  	  	Class D Notes Information	  			
			
	 	10.1	  	  	Class D Outstanding Principal Amount as of the Payment Date after giving effect to the transactions made on such Payment Date	  	 	0.00	  
			
	 	10.2	  	  	Class D Nominal Liquidation Amount as of the Payment Date after giving effect to the transactions made on such Payment Date	  	 	0.00	  
			
	 	10.3	  	  	Total amount to be distributed on the Class D Notes on the Payment Date	  	 	0.00	  
			
	 	10.4	  	  	Total amount, if any, to be distributed on the Class D Notes on the Payment Date allocable to the Class D Outstanding Principal Amount	  	 	0.00	  

  
 Ex. B-6

							
	10.5	 	Total amount to be distributed on the Class D Notes on the Payment Date allocable interest on the Class D Notes	 	 	0.00	  
			
	10.6	 	Class D Monthly Interest for the Interest Period	 	 	0.00	  

 IN WITNESS WHEREOF, the undersigned has duly executed and delivered this certificate
this            x/xx/2013 
  

			
	 NAVISTAR FINANCIAL CORPORATION,
 as Servicer

		
	By:	 	  

		 	David L. Derfelt
	Its:	 	VP & Controller

  
 Ex. B-7EX-10.1

 Exhibit 10.1 
 Execution Version 
 THIRD AMENDMENT TO DELAYED DRAW TERM LOAN CREDIT
AGREEMENT, 
 JOINDER, WAIVER, CONSENT AND OMNIBUS AMENDMENT AGREEMENT 

THIRD AMENDMENT TO DELAYED DRAW TERM LOAN CREDIT AGREEMENT, JOINDER, WAIVER, CONSENT AND OMNIBUS AMENDMENT AGREEMENT (this
“Amendment”), dated as of December 28, 2012 by and among Par Petroleum Corporation, a Delaware corporation (the “Borrower”), the Guarantors party thereto (the “Guarantors”
and together with the Borrower, each a “Credit Party” and collectively, the “Credit Parties”), the undersigned Lenders party hereto, and Jefferies Finance LLC, as administrative agent (the
“Administrative Agent”). 
 WHEREAS, the Credit Parties, Jefferies Finance LLC, as administrative agent,
and the Lenders party thereto from time to time entered into that certain Delayed Draw Term Loan Credit Agreement dated as of August 31, 2012 (as amended by the First Amendment dated September 28, 2012, as amended by the Second Amendment
dated effective November 29, 2012, and as may be amended, amended and restated, modified, supplemented, extended, renewed, restated or replaced from time to time, the “Credit Agreement”); 

WHEREAS, the Borrower desires to acquire, directly or indirectly, all of the issued and outstanding capital stock of Seacor Energy Inc.,
a Delaware corporation (“Target”), on or before December 31, 2012; 
 WHEREAS, certain Lenders are
willing to provide a term loan for the purpose of financing the Borrower’s acquisition of Target and for the purposes of providing cash collateral for a letter of credit facility with Compass Bank; 

WHEREAS, following the Borrower’s acquisition of Target on or before December 31, 2012, Target shall become a guarantor and a
Credit Party under the Credit Agreement and the other Loan Documents; 
 WHEREAS, the Borrower has requested that the Lenders
agree to amend certain provisions of the Credit Agreement; and 
 WHEREAS, the Borrower, the Guarantors, and the Lenders have
agreed to so amend the Credit Agreement subject to the terms and conditions set forth herein. 
 NOW, THEREFORE, in
consideration of the mutual promises contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 

1. Defined Terms. All capitalized terms used herein (including the recitals hereto) shall have the respective meaning assigned to
such terms in the Credit Agreement as amended by this Amendment, unless otherwise defined herein. 

 2. Amendments to Credit Agreement. 

(a) Appendix 1 of the Credit Agreement is hereby amended by (i) adding the new defined terms which
appear on Appendix 1-A to this Amendment in alphabetical order and (ii) restating in their entirety the existing definitions for the defined terms which appear on Appendix 1-B to this Amendment as they appear on such Appendix 1-B. 

(b) The Credit Agreement is hereby amended to add a new Appendix 2 to the Credit Agreement, which sets forth
the covenants and agreements of the Borrower, the other Credit Parties, the Lenders and the Administrative Agent with respect to Tranche B Loans and such Appendix 2 is hereby incorporated into the Credit Agreement and made a part
thereof (and the terms of Appendix 2 shall be treated for all purposes as if they are terms of the Credit Agreement itself). 
 (c) The Credit Agreement is hereby amended to add a new Appendix 3 to the Credit Agreement, which sets forth the agreements of the Borrower, the other Credit Parties, the Tranche B Lenders
and the Administrative Agent with respect to the conditions precedent to making Tranche B Loans and such Appendix 3 is hereby incorporated into the Credit Agreement and made a part thereof (and the terms of Appendix 3 shall be treated
for all purposes as if they are terms of the Credit Agreement itself). 
 (d) Section 2.6(b)
of the Credit Agreement is hereby deleted and replaced with the following: 
 “(b) Notwithstanding the foregoing, from and
after the date that an Event of Default shall have occurred and be continuing (including, without limitation, at any time during an Interest Period), at the request of the Requisite Lenders (which such request may be made by the Administrative Agent
at the direction of the Requisite Lenders), (i) all outstanding Obligations shall, to the extent permitted by applicable law, bear interest at a rate per annum equal to 11.75%, per annum (or 2% plus the rate otherwise applicable to such
Obligations as provided in Section 2.6(a)(i)) (the “Default Rate”) and (ii) all interest accrued and accruing shall be payable in cash on demand; provided, that, from and after the occurrence of any Event of Default under
Section 7.1(e), all outstanding Obligations shall, to the extent permitted by applicable law, bear interest at the Default Rate automatically and without any notice from Administrative Agent, the Requisite Lenders or any other
Person.” 
 (e) Section 2.8(a)(i), (ii), (iii), (iv) and
(v) (Optional Payments) of the Credit Agreement is amended such that in each case where the term “Obligations” appears, the parenthetical phrase “(exluding Tranche B Obligations)” shall be inserted immediately
thereafter. The parties agree that the Repayment Premium and Applicable Premium do not apply to Tranche B Obligations. 

  
 2 

 (f) Sections 2.8(c), (d), (e),
(f), (g) and (h) of the Credit Agreement are deleted in their entirety and replaced with the following: 
 “(c) Asset Sales. 
 (i) Not later than five (5) Business Days
following the receipt of any Net Cash Proceeds of any Disposition of any Property of any Credit Party (except for Dispositions of the JV Interests or of the type described in Sections 2.8(e), (f) and (g)) now owned or
hereafter acquired, such Credit Party shall apply 100% of such Net Cash Proceeds to make repayments of the Obligations, if any are then outstanding, in accordance with Sections 2.8(h) and (i); provided that no such
repayment shall be required under this Section 2.8(c) with respect to (A) the Disposition of Property that constitutes a Casualty Event, (B) Dispositions for fair market value resulting in no more than $100,000 in Net Cash
Proceeds per Disposition (or series of related Dispositions) and less than $200,000 in aggregate Net Cash Proceeds before the Maturity Date, (C) any Disposition to the extent no Obligations are then outstanding on the date of receipt of such
Net Cash Proceeds, or (D) Dispositions permitted by Section 6.4(b)(i), (ii), (iii) (other than subclause (B) of Section 6.4(b)(iii)), (iv), (v), (vii),
(viii) and (ix); and provided, further that so long as no Default or Event of Default shall have occurred and be continuing or arise therefrom, the Borrower shall have the option upon written notice stating its intention to the
Administrative Agent and each Lender (or by filing materials with the SEC stating Borrower’s intention and contemporaneously delivering such materials to the Administrative Agent and each Lender) within ten (10) Business Days of receipt of
Net Cash Proceeds from any Disposition, directly or through one or more Credit Party, to invest or commit to invest such Net Cash Proceeds in an amount such that the aggregate amount of all Net Cash Proceeds from any Disposition reinvested as
described in clauses (I) and (II) below pursuant to this proviso (and not applied to the Obligations pursuant to this Section 2.8(c)) shall not exceed an amount equal to $25,000,000 in the aggregate (I) within one (1) year
of receipt thereof in long term productive assets of the general type used in the business of the Credit Parties, including through Acquisitions permitted hereunder, provided that if any amount is so committed to be reinvested within such one-year
period, but is not reinvested within the later to occur of (x) six (6) months of the date of such commitment and (y) the end of such one-year period, the Borrower shall repay the Obligations in accordance with this
Section 2.8(c) without giving further effect to such reinvestment right or (II) as a capital contribution or loan to the JV Company within ten (10) Business Days of receipt thereof, provided that if any amount is so committed to be
reinvested but is not reinvested within ten (10) Business Days of receipt of such Net Cash Proceeds, the Borrower shall repay the Obligations in accordance with this Section 2.8(c) without giving further effect to such reinvestment
right; and 

  
 3 

 (ii) Not later than one (1) Business Day following the receipt of any Net Cash
Proceeds from the Disposition of the JV Interests, such Credit Party shall, subject to the Intercreditor Agreement apply 100% of such Net Cash Proceeds to make repayments of the Obligations (excluding Tranche B Obligations), if any are then
outstanding, in accordance with Sections 2.8(h); provided that no such repayment shall be required under this Section 2.8(c) with respect to any Disposition to the extent no Obligations are then outstanding on the date
of receipt of such Net Cash Proceeds. 
 (d) Debt Issuance. Not later than one (1) Business Day following the
receipt of any Net Cash Proceeds of any Debt Issuance (including the issuance of any Permitted Subordinated Debt) by any Credit Party, the Borrower shall make repayments of the Obligations, if any are then outstanding, in accordance with
Sections 2.8(h) in an aggregate principal amount equal to 100% of such Net Cash Proceeds; provided that, so long as no Default or Event of Default shall have occurred and be continuing or arise therefrom, the Borrower shall have the
option upon written notice stating its intention to the Administrative Agent and each Lender (or by filing materials with the SEC stating Borrower’s intention and contemporaneously delivering such materials to the Administrative Agent and each
Lender) within ten (10) Business Days of receipt of Net Cash Proceeds from any Debt Issuance, directly or through one or more Credit Party, to invest or commit to invest such Net Cash Proceeds in investments permitted pursuant to
Section 6.7(g) or (k) within six (6) months of receipt thereof, provided that if any amount is so committed to be reinvested but is not reinvested within six (6) months of the date of receipt of such Net Cash
Proceeds, the Borrower shall repay the Obligations in accordance with this Section 2.8(d) without giving further effect to such reinvestment right. 
 (e) JV Distributions. Not later than one (1) Business Day following the receipt of any cash Dividends or other distributions by any Credit Party in respect of any Credit Party’s ownership
of the JV Interests, the Borrower shall make repayments of the Obligations (excluding Tranche B Obligations), if any are then outstanding in accordance with Sections 2.8(h) in an aggregate principal amount equal to 100% of such cash
Dividends or other distributions, provided, however, that (i) the Borrower shall only be required to make such repayment after a Credit Party has received aggregate cash Dividends or other distributions totaling in excess of $250,000 in respect
of any Credit Party’s ownership of the JV Interests and (ii) no such repayment shall be required under this Section 2.8(e) to the extent that such Dividends or other distributions are intended to be used by Borrower or the
applicable Credit Party to pay Taxes attributable to such JV Interests and Dividends and distributions received thereunder that are owed by the Borrower or the applicable Credit Party and such Dividends and distributions are in fact so used.

  
 4 

 (f) Casualty Events. Not later than five (5) Business Days following the
receipt of any Net Cash Proceeds from a Casualty Event by any Credit Party, the Borrower shall apply an amount equal to 100% of such Net Cash Proceeds to make repayments of the Obligations in accordance with Sections 2.8(h);
provided that no such prepayment shall be required under this Section 2.8(f) with respect to any Disposition of property which constitutes a Casualty Event resulting in no more than $100,000 in Net Cash Proceeds per Casualty Event
and less than $500,000 in Net Cash Proceeds from Casualty Events in any fiscal year; provided, further: 
 (i) so long as
no Default or Event of Default shall then exist or arise therefrom, such proceeds shall not be required to be so applied on such date to the extent that the Borrower shall, following the receipt of such Net Cash Proceeds, have delivered a
certificate to the Administrative Agent and each Lender within ten (10) Business Days stating that such proceeds are expected to be used to purchase replacement assets or repair such assets and, in each case, to be used in connection with the
purposes described in Section 5.9 or otherwise in compliance with the terms of this Agreement no later than 365 days following the date of receipt of the entire amount of such proceeds; provided that if the property subject to such
Casualty Event constituted Collateral under the Security Instruments, then all property purchased with the Net Cash Proceeds thereof pursuant to this subsection shall be made subject to the Lien granted pursuant to the Security Instruments in favor
of the Administrative Agent, for its benefit and for the benefit of the other Secured Parties in accordance with Sections 5.8, 5.11, and 5.12; and 
 (ii) if any portion of such Net Cash Proceeds shall not be so applied within such 365-day period, such unused portion shall be applied on the last day of such period as a mandatory prepayment as provided
in this Section 2.8(f). 
 (g) Equity Issuances. No later than five (5) Business Days following the date
of receipt by the Borrower of any Net Equity Proceeds, the Borrower shall prepay the Obligations in an aggregate amount equal to 75% (the “Equity Percentage”) of such Net Equity Proceeds; provided, however, that so long as no
Default or Event of Default shall have occurred and be continuing, the Borrower shall have the option upon written notice stating its intention to the Administrative Agent and each Lender (or by filing materials with the SEC stating Borrower’s
intention and contemporaneously delivering such materials to the Administrative Agent and each Lender) within ten (10) Business Days of receipt of such Net Equity Proceeds, directly or through one or more Credit Party, to (A) invest or
commit to invest such Net Equity Proceeds (x) in investments permitted pursuant to Section 6.7(g) or (k) within six (6) months from the date of receipt of such Net Equity Proceeds; or (y) in long term
productive assets of the general type used in the business of the Credit Parties, including through Acquisitions permitted hereunder, in each case, within one (1) year of receipt of such Net Equity Proceeds or (B) to fund the Target’s
activities within six (6) months from the date of receipt of such Net Equity Proceeds, provided that, in the case of investments 

  
 5 

 
described in clause (A)(x) above, if any amount is so committed to be reinvested but is not so reinvested within six (6) months from the date of receipt of such Net Equity Proceeds, or in
the case of investments described in clause (A)(y) above, if any amount is so committed to be reinvested within such one-year period, but is not reinvested within such one-year period after the receipt of such Net Equity Proceeds or as described in
clause (B), within six (6) months from the date of receipt of such Net Equity Proceeds, then, in each case, the Borrower shall use 75% of the unused portion of such Net Equity Proceeds to repay the Obligations in accordance with this
Section 2.8(g) without giving further effect to such reinvestment right. 
 (h) Application of Repayments.

 (i) Subject to the provisions of this Section 2.8(h), prior to any optional or mandatory prepayment hereunder,
the Borrower shall specify the amount of such prepayment in the notice of such prepayment pursuant to Section 2.8(h)(iii). 
 (ii) All amounts to be applied to the Obligations pursuant to Section 2.8(c) through (g) shall be applied (a) first, to the repayment of Tranche B Loans and other Tranche B
Obligations until the Tranche B Obligations are paid in full, and (b) second, to the repayment of the Loans and other Obligations then due and payable; provided that, no Dividends or Net Cash Proceeds arising from JV Interests or any other
“Common Collateral” (as defined in the Intercreditor Agreement) shall be used to pay all or any portion of the Tranche B Obligations. Amounts to be applied pursuant to clause (a) of this Section 2.8(h)(ii) to the
repayment of Tranche B Obligations shall be applied (1) first, towards payment of interest (including, but not limited to, any outstanding PIK-B Interest) and fees then due in respect of Tranche B Loans, (2) second, towards payment of
principal of Tranche B Loans then due hereunder, and (3) third, towards payment of the Tranche B Exit Fee, with all such amounts distributed ratably among the Tranche B Lenders in accordance with the amounts of principal, interest and fees then
due to such Tranche B Lenders. Amounts to be applied pursuant to clause (b) of this Section 2.8(h)(ii) to the repayment of Loans shall be applied to the outstanding Loans, (x) first, towards payment of either the
Applicable Premium or Repayment Premium which is due in connection with such repayment, (y) second, towards payment of interest (including, but not limited to, any outstanding PIK Interest) and fees (other than the Applicable Premium or
Repayment Premium) then due hereunder, and (z) third, towards payment of principal of the Loans then due hereunder, with all such amounts distributed ratably among the parties entitled thereto in accordance with the amounts of principal,
interest and fees then due to such parties. 

  
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 (iii) Notice of Repayment. If the Borrower is required to make a repayment pursuant
to Sections 2.8(c), (d), (e), (f) or (g), the Borrower shall notify the Administrative Agent by written notice of any repayment hereunder, not later than 11:00 a.m., New York City time, one
(1) Business Day before the date of repayment. Each such notice shall specify the repayment date, the principal amount of the Loans or Tranche B Loans to be repaid, the amount of accrued interest due in connection therewith and, with respect to
the Loans, any Repayment Premium or Applicable Premium, if applicable. Promptly following receipt of any such notice, the Administrative Agent shall advise the Lenders of the contents thereof. Such notice to the Lenders may be by electronic
communication. Each repayment of any or all of the Loans or Tranche B Loans shall be applied according to Section 2.8(h). Repayments shall be accompanied by accrued interest to the extent required by Section 2.05 of Appendix
2 and Section 2.6.” 
 (g) Section 2.9(a) of the Credit Agreement is
hereby deleted and replaced with the following: 
 “(a) If any Change in Law shall: 

(i) impose, modify or deem applicable any reserve, special deposit, compulsory loan, insurance charge or similar requirement against
assets of, deposits with or for the account of, or credit extended or participated in by, any Lender; 
 (ii) subject any
recipient to any Taxes (other than (A) Indemnified Taxes, (B) Taxes described in clauses (b) through (d) of the definition of Excluded Taxes and (C) Connection Income Taxes) on its loans, loan principal, letters of credit,
commitments, or other obligations, or its deposits, reserves, other liabilities or capital attributable thereto; or 
 (iii)
impose on any Lender or the London interbank market any other condition, cost or expense (other than Taxes) affecting this Agreement, the Loans or Tranche B Loans made by such Lender; 

and the result of any of the foregoing shall be to increase the cost to such Lender or such other recipient of making, converting to,
continuing or maintaining any Loan or Tranche B Loans or of maintaining its obligation to make any such Loan or such Tranche B Loans, or to reduce the amount of any sum received or receivable by such Lender, or other recipient hereunder (whether of
principal, interest or any other amount) then, upon request of such Lender, or other recipient, the Borrower will pay to such Lender or other recipient, as the case may be, such additional amount or amounts as will compensate such Lender or other
recipient, as the case may be, for such additional costs incurred or reduction suffered.” 

  
 7 

 (h) Section 2.9(b) of the Credit Agreement is hereby
deleted and replaced with the following: 
 “(b) If any Lender determines (in good faith, but in its sole absolute
discretion) that any Change in Law regarding capital requirements has or would have the effect of reducing the rate of return on such Lender’s capital or on the capital of such Lender’s holding company, if any, as a consequence of this
Agreement, the Loans or Tranche B Loans made by such Lender, to a level below that which such Lender or such Lender’s holding company could have achieved but for such Change in Law (taking into consideration such Lender’s policies and the
policies of such Lender’s holding company with respect to capital adequacy), then from time to time the Borrower will pay to such Lender, as the case may be, such additional amount or amounts as will compensate such Lender or such Lender’s
holding company for any such reduction suffered.” 
 (i) The first sentence of
Section 2.10 (Breakage Payments) of the Credit Agreement is hereby deleted and replaced with the following sentence: 
 “In the event of the failure to borrow or prepay any Loan or Tranche B Loan on the date specified in any notice delivered pursuant hereto then, in any such event, the Borrower shall compensate each
Lender for the loss, cost and expense (but excluding consequential damages and loss of anticipated profits), if any, attributable to such event.” 
 (a) Section 2.11(b) of the Credit Agreement is hereby deleted and replaced with the following: 
 “(b) If at any time insufficient funds are received by and available to the Administrative Agent to pay fully all amounts of principal, interest and fees then due hereunder, such funds shall be
applied (subject to the priorities set forth in Section 7.6 in the case of proceeds received by the Administrative Agent in respect of any sale of, collection from or realization upon all or any part of the Collateral pursuant to the
exercise by the Administrative Agent of its remedies) (i) first, towards payment of either the Applicable Premium or Repayment Premium which is due in connection with any repayment, (ii) second, towards payment of interest (including, but
not limited to, any outstanding PIK Interest and PIK-B Interest) and fees (other than the Applicable Premium or Repayment Premium) then due with respect to the Loans and the Tranche B Loans hereunder, and (iii) third, towards payment of
principal then due hereunder with respect to the Loans and the Tranche B Loans, with all such amounts distributed ratably among the parties entitled thereto in accordance with the amounts of principal, interest and fees then due to such
parties.” 
 (b) Section 2.11(c) of the Credit Agreement is hereby deleted and replaced
with the following: 
 “(c) If any Lender shall, by exercising any right of setoff or counterclaim or otherwise, obtain
payment in respect of any principal of or interest on any of the Obligations resulting in such Lender receiving payment of a greater proportion of the aggregate amount of its Loans or Tranche B Loans and accrued interest

  
 8 

 
thereon than the proportion received by any other Lender, then the Lender receiving such greater proportion shall purchase (for cash at face value) participations in the Loans or Tranche B Loans,
as applicable, of other Lenders to the extent necessary so that the benefit of all such payments shall be shared by the Lenders ratably in accordance with the aggregate amount of principal of and accrued interest on their respective Loans or Tranche
B Loans; provided that (i) if any such participations are purchased and all or any portion of the payment giving rise thereto is recovered, such participations shall be rescinded and the purchase price restored to the extent of such recovery,
without interest, and (ii) the provisions of this paragraph shall not be construed to apply to any payment made by the Borrower pursuant to and in accordance with the express terms of this Agreement or any payment obtained by a Lender as
consideration for the assignment of or sale of a participation in any of its Loans or Tranche B Loans to any assignee or participant, other than to any Credit Party or its Affiliates (as to which the provisions of this paragraph shall apply). Each
Credit Party consents to the foregoing and agrees, to the extent it may effectively do so under applicable law, that any Lender acquiring a participation pursuant to the foregoing arrangements may exercise against such Credit Party rights of setoff
and counterclaim with respect to such participation as fully as if such Lender were a direct creditor of such Credit Party in the amount of such participation. If under applicable Debtor Relief Law any Secured Party receives a secured claim in lieu
of a setoff or counterclaim to which this Section 2.11(c) applies, such Secured Party shall to the extent practicable, exercise its rights in respect of such secured claim in a manner consistent with the rights to which the Secured Party
is entitled under this Section 2.11(c) to share in the benefits of the recovery of such secured claim.” 
 (c) The first sentence of Section 2.13(a) (Mitigation of Obligations) of the Credit Agreement is hereby deleted and replaced with the following sentence: 

“If any Lender requests compensation under Section 2.9, or if the Borrower is required to pay any additional amount to
any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.12, then such Lender shall use reasonable efforts to designate a different lending office for funding or booking its Loans and Tranche B Loans
hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the reasonable judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant
to Section 2.9 or 2.12, as the case may be, in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous in any material respect to such Lender.”

 (d) Clause (ii) of Section 2.13(b) (Replacement of Lenders) of the Credit
Agreement is hereby deleted and replaced with the following clause: 

  
 9 

 “(ii) such Lender shall have received payment of an amount equal to the outstanding
principal of its Loans and Tranche B Loans, accrued interest thereon, accrued fees and and all other amoutns payable to it hereunder (assuming for this purpose that the Loans and Tranche B Loans owing to such Lender were being prepaid) from the
assignee (to the extent of such outstanding principal and accrued interest and fees) or the Borrower (in the case of all other amounts);” 
 (e) Section 4.8(a) of the Credit Agreement is hereby amended to add the following sentence at the end of such section: “The proceeds of Tranche B Loans will be used by Borrower for
the purposes described in Section 5.9.” 
 (f) The first sentence of
Section 4.8(c) of the Credit Agreement is hereby deleted and replaced with the following sentence: 

“No proceeds of any Loan or Tranche B Loan will be used, whether directly or indirectly and whether immediately, incidentally or
ultimately, for any purpose that entails a violation of, or that is inconsistent with Regulation T, U or X or any other provisions of the regulations of the Federal Reserve Board.” 

(g) Clause (a) of Section 18 (Solvency) of the Credit Agreement is hereby deleted and replaced
with the following clause 
 “(a) the Loans and Tranche B Loans,” 

(h) Section 4.24 (Foreign Assets Control Regulations) of the Credit Agreement is hereby amended by
inserting the phrase “or Tranche B Loans” immediately after the word “Loans”. 
 (i)
Section 4.25 (Anti-Terrorism Law) of the Credit Agreement is hereby amended by inserting the phrase “or Tranche B Loans” immediately after the word “Loans” in each instance that the word “Loans”
appears. 
 (j) Section 5.4(c) of the Credit Agreement is hereby amended by inserting the
phrase “or Tranche B Loans” immediately after the word “Loans” in each instance that the word “Loans” appears. 
 (k) Section 5.9 (Use of Proceeds) of the Credit Agreement is hereby amended to add the following sentence at the end of such section: “Borrower shall use the proceeds of Tranche B
Loans to consummate the Target Acquisition on or before December 31, 2012, to repay the Tranche B Loans, to pay transaction costs and expenses incurred in connection with or related to the Target Acquisition, to cash collateralize its
obligations under the Compass LC Facility, and for working capital and general corporate purposes.” 
 (l)
The first sentence of Section 5.11 (Further Assurances; Cure of Title Defects) of the Credit Agreement is hereby deleted and replaced with the following sentence: 

  
 10 

 “Each Credit Party shall, cure promptly any defects in the creation and issuance of
the Loans, Tranche B Loans or any Notes and the execution and delivery of the Security Instruments and this Agreement.” 
 (m) Section 6.1 (Liens, Etc.) of the Credit Agreement is amended to delete the period at the end of clause (l) thereof and to replace it with a semicolon, and to add new clause
(m) after such clause (l) as follows: “and (m) any Liens on cash collateral and the Segregated Account securing Debt under the Compass LC Facility to the extent such Debt is permitted to be incurred under Section 6.2(l) of
this Agreement; provided that at any time an Event of Default exists and the Borrower shall have pledged cash collateral in an amount greater than 105% of the letter of credit exposure then outstanding under the Compass LC Facility at such time (the
“Excess Funds”), upon notice from the Requisite Lenders and Requisite Tranche B Lenders, the Borrower shall, within seven (7) Business Days thereof, cause the transfer of such Excess Funds from the Segregated Account into one of
Borrower’s Deposit Accounts subject to an account control agreement in favor of the Agent.” 
 (n)
Section 6.2 (Debts, Guarantees, and Other Obligations) of the Credit Agreement is amended to delete the period at the end of clause (k) thereof and to replace it with a semicolon, and to add a new clause (l) after such
clause (k) as follows: “and (l) Debt of the Borrower owing under the Compass LC Facility or letters of credit issued from time to time under the Compass LC Facility, so long as the the maximum aggregate amount of obligations owing
with respect to such Debt shall not exceed $40,000,000 at any time and such Debt was cash-collateralized by the applicable Credit Party at the time it was incurrred and such Debt continues to be cash collateralized at all times.” 

(o) Section 6.7(g) (Investments) of the Credit Agreement is hereby amended to delete the semicolon at
the end of clause (iv) thereof, and to add a new clause (v) after such clause (iv) as follows: “, or (v) with the proceeds of Tranche B Loans, in accordance with the Third Amendment;” 

(p) Section 6.13 (Use of Proceeds) of the Credit Agreement is hereby deleted and replaced with the
following sentence: 
 “No Credit Party will permit the proceeds of any Loans or Tranche B Loans to be used for any purpose
other than those permitted by Section 5.9. No Credit Party will engage in the business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of Regulation U). No Credit Party nor any Person acting
on behalf of such Credit Party has taken or shall take, nor permit any of the Credit Parties to take any action which might cause any of the Loan Documents to violate Regulation T, U or X or any other regulation of the Board of Governors of the
Federal Reserve System or to violate Section 7 of the Securities Exchange Act of 1934 or any rule or regulation thereunder, in each case as now in effect or as the same may hereinafter be in effect, including without limitation, the use of the
proceeds of the Loans or Tranche B Loans to purchase or carry any margin stock in violation of Regulation T, U or X.” 

  
 11 

 (q) Section 6.18 (Anti-Terrorism; Anti Money Laundering)
of the Credit Agreement is hereby amended to add a new clause (c) at the end of such section as follows: “(c) Cause or permit any of the funds of such Credit Party that are used to repay Tranche B Obligations to be derived from any
unlawful activity with the result that the making of Tranche B Loans would be in violation of law.” 
 (r)
Section 6.19 (Embargoed Person) of the Credit Agreement is deleted in its entirety and replaced with the following: 
 “No Credit Party shall cause or permit (a) any of the funds or properties of the Credit Parties that are used to repay the Loans or Tranche B Loans to constitute property of, or be beneficially
owned directly or indirectly by, any person subject to sanctions or trade restrictions under United States law (“Embargoed Person” or “Embargoed Persons”) that is identified on the “List of Specially Designated
Nationals and Blocked Persons” (the “SDN List”) maintained by OFAC and/or on any other similar list (“Other List”) maintained by OFAC pursuant to any authorizing statute including, but not limited to, the
International Emergency Economic Powers Act, 50 U.S.C. §§ 1701 et seq., The Trading with the Enemy Act, 50 U.S.C. App. 1 et seq., and any executive order or regulation promulgated thereunder with the result that the investment in
the Credit Parties (whether directly or indirectly) is prohibited by law, or the Loans or Tranche B Loans made by the Lenders would be in violation of law, the executive order, any related enabling legislation or any other similar executive orders
(collectively, “Executive Orders”), or (2) any Embargoed Person to have any direct or indirect interest, of any nature whatsoever in the Credit Parties, with the result that the investment in the Credit Parties (whether
directly or indirectly) is prohibited by law or the Loans or Tranche B Loans are in violation of law.” 

(s) Section 6.20(a) of the Credit agreement is deleted in its entirety and the following is substituted
therefor: “(a) the prepayment of the Loans or Tranche B Loans in accordance with the terms of this Agreement,”. 
 (t) Section 6.25 (JV Holding Sub) of the Credit Agreement is hereby amended by insterting the phrase “(other than any Tranche B Obligations)” in clause (B) thereof
immediately after the phrase “the Obligations”. 
 (u) Section 7.6 (Application of
Proceeds) of the Credit Agreement is hereby deleted and replaced with the following: 
 “Section 7.6 Application of
Proceeds. From and during the continuance of any Event of Default, any monies or Property (excluding the Target Property or monies arising from the Target Property or identifiable proceeds of the Tranche B Loans) actually received by
Administrative Agent pursuant to this Agreement or any other Loan Document, the exercise of any rights or remedies under any Security Instrument or any other agreement with any Credit Party which secures any of the Obligations, shall be applied in
the following order: 

  
 12 

 (a) First, to the payment of all reasonable costs and expenses, fees, commissions
and taxes of such sale, collection or other realization including compensation to the Administrative Agent and its agents and counsel, and all expenses, liabilities and advances made or incurred by the Administrative Agent in connection therewith
and all other amounts for which the Administrative Agent is entitled to indemnification pursuant to the provisions of any Loan Document, together with interest on each such amount at the highest rate then in effect under this Agreement from and
after the date such amount is due, owing or unpaid until paid in full; 
 (b) Second, to the payment of all other
reasonable costs and expenses of such sale, collection or other realization including compensation to the other Secured Parties and their agents and counsel and all costs, liabilities and advances made or incurred by the other Secured Parties in
connection therewith to which the Secured Parties are entitled to reimbursement pursuant to the terms of any Loan Documents, together with interest on each such amount at the highest rate then in effect under this Agreement from and after the date
such amount is due, owing or unpaid until paid in full; 
 (c) Third, without duplication of amounts applied pursuant to
clauses (a) and (b) above, to the payment in full in cash, pro rata, of interest and other amounts constituting Obligations (other than Tranche B Obligations and the principal amount of the Loans) and any fees, premiums and any interest
accrued thereon, in each case equally and ratably in accordance with the respective amounts thereof then due and owing; 
 (d)
Fourth, to the payment in full in cash, pro rata, of principal amount of the Obligations (excluding Tranche B Obligations); and 
 (e) Fifth, unless such monies or Property are attributable to the JV Interests or any other “Common Collateral” (as defined in the Intercreditor Agreement”), the payment in full in
cash, pro rata, of interest and other amounts constituting Tranche B Obligations (other than the principal amount of Tranche B Loans) and any fees, premiums and any interest accrued thereon, in each case, equally and ratably in accordance with the
respective amount thereof then due and owing; 
 (f) Sixth, unless such monies or Property are attributable to the JV
Interests or any other “Common Collateral” (as defined in the Intercreditor Agreement”), to the payment in full in cash, pro rata, of the principal amount of Tranche B Loans; and 

  
 13 

 (g) Seventh, the balance, if any, to the person lawfully entitled thereto (including
the applicable Credit Party or its successors or assigns) or as a court of competent jurisdiction may direct. 
 In the event
that any such proceeds are insufficient to pay in full the items described in foregoing clauses (a) through (f) of this Section 7.6, the Credit Parties shall remain liable, jointly and severally, for any deficiency. 

From and during the continuance of any Event of Default, any identifiable proceeds of the Tranche B Loans, or any Target
Property or monies arising from the Target Property actually received by Administrative Agent pursuant to this Agreement or any other Loan Document, the exercise of any rights or remedies under any Security Instrument or any other agreement with any
Credit Party which secures any of the Obligations, shall be applied in the following order: 
 (a) First, to the payment
of all reasonable costs and expenses, fees, commissions and taxes of such sale, collection or other realization including compensation to the Administrative Agent and its agents and counsel, and all expenses, liabilities and advances made or
incurred by the Administrative Agent in connection therewith and all other amounts for which the Administrative Agent is entitled to indemnification pursuant to the provisions of any Loan Document, together with interest on each such amount at the
highest rate then in effect under this Agreement from and after the date such amount is due, owing or unpaid until paid in full; 
 (b) Second, to the payment of all other reasonable costs and expenses of such sale, collection or other realization including compensation to the other Secured Parties and their agents and counsel
and all costs, liabilities and advances made or incurred by the other Secured Parties in connection therewith to which the Secured Parties are entitled to reimbursement pursuant to the terms of any Loan Documents, together with interest on each such
amount at the highest rate then in effect under this Agreement from and after the date such amount is due, owing or unpaid until paid in full; 
 (c) Third, without duplication of amounts applied pursuant to clauses (a) and (b) above, to the payment in full in cash, pro rata, of interest and other amounts constituting Tranche B
Obligations (other than the principal amount of the Tranche B Loans) and any fees, premiums and any interest accrued on the Tranche B Loans, in each case equally and ratably in accordance with the respective amounts thereof then due and owing;

 (d) Fourth, to the payment in full in cash, pro rata, of principal amount of Tranche B Obligations; and 

(e) Fifth, to the payment in full in cash, pro rata, of interest and other amounts constituting Obligations (other than principal
on the Loans) and any fees, premiums and any interest accrued thereon, in each case, equally and ratably in accordance with the respective amount thereof then due and owing; 

  
 14 

 (f) Sixth, to the payment in full in cash, pro rata, of principal amount of the
Loans and any premium thereon and any interest accrued thereon; and 
 (g) Seventh, the balance, if any, to the person
lawfully entitled thereto (including the applicable Credit Party or its successors or assigns) or as a court of competent jurisdiction may direct. 
 In the event that any such proceeds are insufficient to pay in full the items described in foregoing clauses (a) through (f) of this Section 7.6, the Credit Parties shall remain
liable, jointly and severally, for any deficiency.” 
 (v) Section 8.8 (Indemnification)
of the Credit Agreement is deleted in its entirety and replaced with the following: 
 “Section 8.8 Indemnification.
THE LENDERS SEVERALLY AGREE TO INDEMNIFY THE ADMINISTRATIVE AGENT AND EACH AFFILIATE THEREOF AND THEIR RESPECTIVE DIRECTORS, OFFICERS, EMPLOYEES, AND AGENTS (TO THE EXTENT NOT REIMBURSED BY ANY CREDIT PARTY AND WITHOUT LIMITING THE OBLIGATION OF THE
CREDIT PARTIES TO DO SO), ACCORDING TO THEIR RESPECTIVE PRO RATA SHARES IN EFFECT ON THE DATE ON WHICH INDEMNIFICATION IS SOUGHT UNDER THIS SECTION 8.8 (OR, IF INDEMNIFICATION IS SOUGHT AFTER THE DATE UPON WHICH ALL COMMITMENTS SHALL
HAVE TERMINATED AND THE OBLIGATIONS SHALL HAVE BEEN PAID IN FULL, RATABLY IN ACCORDANCE WITH SUCH OUTSTANDING LOANS, TRANCHE B LOANS AND COMMITMENTS AS IN EFFECT IMMEDIATELY BEFORE SUCH DATE), FROM AND AGAINST ANY AND ALL LIABILITIES, OBLIGATIONS,
LOSSES, DAMAGES, FINES, PENALTIES, ACTIONS, CLAIMS, JUDGMENTS, SUITS, LITIGATION, INVESTIGATIONS, INQUIRIES OR PROCEEDINGS, COSTS, EXPENSES, OR DISBURSEMENTS OF ANY KIND OR NATURE WHATSOEVER WHICH AT ANY TIME (WHETHER BEFORE OR AFTER THE PAYMENT OF
THE LOANS OR TRANCHE B LOANS) MAY BE IMPOSED ON, INCURRED BY, OR ASSERTED AGAINST THE ADMINISTRATIVE AGENT IN ANY WAY RELATING TO OR ARISING OUT OF THIS AGREEMENT, THE COMMITMENTS OR ANY OTHER LOAN DOCUMENT OR ANY ACTION TAKEN OR OMITTED BY THE
ADMINISTRATIVE AGENT UNDER THIS AGREEMENT, THE COMMITMENTS OR ANY OTHER LOAN DOCUMENT (INCLUDING IN ALL CASES, WHETHER OR NOT CAUSED OR ARISING, IN WHOLE OR IN PART, OUT OF THE COMPARATIVE CONTRIBUTORY OR SOLE NEGLIGENCE OF THE ADMINISTRATIVE AGENT
OR ANY RELATED 

  
 15 

 
PERSON), AND INCLUDING, WITHOUT LIMITATION, ENVIRONMENTAL CLAIMS AND ANY LIABILITIES ARISING UNDER ENVIRONMENTAL LAW, PROVIDED THAT NO LENDER SHALL BE LIABLE FOR ANY PORTION OF SUCH LIABILITIES,
OBLIGATIONS, LOSSES, DAMAGES, PENALTIES, ACTIONS, JUDGMENTS, CLAIMS, SUITS, LITIGATIONS, INVESTIGATIONS, INQUIRIES OR PROCEEDINGS, COSTS, EXPENSES, OR DISBURSEMENTS RESULTING FROM THE ADMINISTRATIVE AGENT’S GROSS NEGLIGENCE OR WILLFUL
MISCONDUCT AS DETERMINED BY A COURT OF COMPETENT JURISDICTION BY FINAL AND NONAPPEALABLE JUDGMENT. WITHOUT LIMITATION OF THE FOREGOING, EACH LENDER AGREES TO REIMBURSE THE ADMINISTRATIVE AGENT PROMPTLY UPON DEMAND FOR ITS RATABLE SHARE OF ANY OUT OF
POCKET EXPENSES (INCLUDING COUNSEL FEES) INCURRED BY THE ADMINISTRATIVE AGENT IN CONNECTION WITH THE PREPARATION, EXECUTION, DELIVERY, ADMINISTRATION, MODIFICATION, AMENDMENT, OR ENFORCEMENT (WHETHER THROUGH NEGOTIATIONS, LEGAL PROCEEDINGS, OR
OTHERWISE) OF, OR LEGAL ADVICE IN RESPECT OF RIGHTS OR RESPONSIBILITIES UNDER, THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT, TO THE EXTENT THAT ADMINISTRATIVE AGENT IS NOT REIMBURSED FOR SUCH BY ANY CREDIT PARTY. To the extent that the indemnity
obligations provided in this Section 8.8 are for the benefit of the Administrative Agent as the named secured party under the Liens granted under the Security Instruments, each Lender hereby agrees that if such Lender ceases to be a
Lender hereunder but Obligations owing to such Lender or an Affiliate of such Lender continue to be secured by such Liens, then such Lender shall continue to be bound by the provisions of this Section 8.8 until such time as such
Obligations have been satisfied or terminated in full and subject to the terms of the last sentence of Section 10.9. The agreements in this Section 8.8 shall survive the payment of the Loans, Tranche B Loans and all other
amounts payable hereunder.” 
 (w) Section 9.1 (The Guarantee) of the Credit Agreement is
deleted in its entirety and replaced with the following: 
 “The Guarantors (other than JV Holding Sub)
hereby, jointly and severally, guarantee, as primary obligors and not as a surety, to each Secured Party and their respective successors and assigns, the prompt payment in full when due (whether at stated maturity, by required prepayment,
declaration, demand, by acceleration or otherwise) of the principal of and interest (including any interest, fees, costs or charges that would accrue but for the provisions of the Title 11 of the United States Code after any bankruptcy or insolvency
petition under Title 11 of the United States Code) on the Loans made by the Lenders to the Borrower, on Tranche B Loans made by Tranche B Lenders to the Borrower, and any Notes held by each Lender, and all other Obligations from time to time owing
to the Secured Parties by any Credit Party under any Loan Document (such obligations being herein collectively called the “Uncapped Guaranteed  

  
 16 

 
Obligations”), and the JV Holding Sub hereby, jointly and severally with the other Guarantors, guarantees, as primary obligor and not as a surety, to each Secured Party and their
respective successors and assigns, the prompt payment in full when due (whether at stated maturity, by required prepayment, declaration, demand, by acceleration or otherwise) of the principal of and interest (including any interest, fees, costs or
charges that would accrue but for the provisions of the Title 11 of the United States Code after any bankruptcy or insolvency petition under Title 11 of the United States Code) on the Loans made by the Lenders to the Borrower and any Notes related
to such Loans held by each Lender, and all other Obligations (other than any Tranche B Obligations) from time to time owing to the Secured Parties by any Credit Party under any Loan Document (such obligations being herein collectively called the
“Capped Guaranteed Obligations”; and together with the Uncapped Guaranteed Obligations, the “Guaranteed Obligations”), in each case strictly in accordance with the terms thereof. The Guarantors (other than JV
Holding Sub) hereby, jointly and severally, agree that if the Borrower or other Guarantors shall fail to pay in full when due (whether at stated maturity, by acceleration or otherwise) any of the Guaranteed Obligations, such Guarantors will promptly
pay the same in cash, without any demand or notice whatsoever, and that in the case of any extension of time of payment or renewal of any of the Guaranteed Obligations, the same will be promptly paid in full when due (whether at extended maturity,
by acceleration or otherwise) in accordance with the terms of such extension or renewal. JV Holding Sub hereby, jointly and severally with the other Guarantors, agrees that if the Borrower or other Guarantors shall fail to pay in full when due
(whether at stated maturity, by acceleration or otherwise) any of the Capped Guaranteed Obligations, it will promptly pay the same in cash, without any demand or notice whatsoever, and that in the case of any extension of time of payment or renewal
of any of the Capped Guaranteed Obligations, the same will be promptly paid in full when due (whether at extended maturity, by acceleration or otherwise) in accordance with the terms of such extension or renewal.” 

(x) Section 10.1 (Amendments, Etc.) of the Credit Agreement is deleted in its entirety and replaced with the
following: 
 “10.1 Amendments, Etc. Notwithstanding anything to the contrary contained herein, no amendment or
waiver of any provision of this Agreement, any Notes, or any other Loan Document, nor consent to any departure by any Credit Party therefrom, shall in any event be effective unless the same shall be in writing and signed by (i) so long as any
Tranche B Obligations (other than any indemnification obligations not yet due) are outstanding, the Requisite Lenders, Requisite Tranche B Lenders, and each Credit Party, and (ii) at any time when no Tranche B Obligations (other than any
indemnification obligations not yet due) are outstanding, the Requisite Lenders and each Credit Party, and then, in each case, such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given;
provided, however, that no amendment, waiver, or consent shall, unless in writing and signed by each Lender affected thereby, do any of the following: 

  
 17 

 (a) reduce the principal of, or interest on, or any fees or other amounts payable hereunder
or under any other Loan Document, 
 (b) postpone any date fixed for any payment of principal of, or interest on, or any fees or
other amounts payable hereunder or under any other Loan Document or extend the Maturity Date or the Availability Period, 
 (c)
change the percentage of Lenders which shall be required for Lenders or any of them to take any action hereunder or under any other Loan Document, 
 (d) amend Section 2.8(h)(ii), Section 2.9, Section 2.10, Section 2.11(b) or (c), Section 2.12, Section 2.13,
Section 2.14, Article III, Section 7.6, Section 8.8 or this Section 10.1 or the definition of “Pro Rata Share”, 

(e) amend the definition of “Requisite Lenders”, “Defaulting Lender,” or “Requisite Tranche B
Lenders,” 
 (f) release any Guarantor from its obligations under any Guarantee other than as a result of a transaction
permitted hereby, 
 (g) release Liens on the JV Interests in favor of the Administrative Agent except for (i) the sale
thereof sold as permitted by this Agreement or (ii) releases of the Lien on the JV Interests in favor of the Administrative Agent as permitted under Section 8.10(c), or 

(h) amend the definition of “Secured Parties” or the definition of “Obligations” in this Agreement or any such
corresponding terms in any other Loan Document; and provided, further, that no amendment, waiver or consent shall, unless in writing and signed by the Administrative Agent in addition to the Lenders required above to take such action, affect the
rights or duties of the Administrative Agent under this Agreement or any other Loan Document; 
 provided,
further, that no amendment, waiver, or consent shall, unless in writing and signed by Lenders holding 66.66% of the unfunded Commitments and outstanding Loans and, other than with respect to any JV Interests, the Tranche B Lenders, release
any item of Collateral from the Liens of the Loan Documents except for (i) Collateral that is sold, transferred or otherwise disposed of as permitted by this Agreement (ii) releases of Collateral as permitted under
Section 8.10(c) and (iii) releases of Excluded Collateral. 
 (y) Clause (ii) of
Section 10.4(b) of the Credit Agreement is deleted in its entirety and the following is substituted therefor: “(ii) in connection with the Loans made and Tranche B Loans, including all such out of pocket expenses incurred
during any workout, restructuring or negotiations in respect of such Loans and Tranche B Loans.” 

  
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 (z) Section 10.6(b)(i)(B) of the Credit Agreement is
deleted in its entirety and the following substituted therefor: “(B) the amount of the Loans or Tranche B Loans of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with
respect to such assignment) shall be, if to an entity other than a Lender or an Approved Fund, not less than $1,000,000 (or, if less, the entire remaining amount of the assigning Lender’s Loans or Tranche B Loans) and shall be, if not assigned
in full, an integral multiple of $1,000,000 in excess thereof,”. 
 (aa)
Section 10.6(b)(ii) of the Credit Agreement is deleted in its entirety and replaced with the following: 

“(ii) If any Assignor desires to sell any portion of its Pro Rata Share of the Loans or Commitments (and its Pro Rata share of the
Warrants), or Tranche B Loans, to any Person (other than to a Lender or an Approved Fund) while the Obligations or any Commitments are outstanding, then such Lender shall first deliver a written offer letter (the “Offer Letter”) to
the Borrower and the other Lenders and/or Holders (collectively, the “Other Lenders”) notifying them of its desire to sell a portion of its Pro Rata Share of the Loans or Commitments (and its Pro Rata share of the Warrants), or
Tranche B Loans, and indicating the exact amount of Loans and Warrants (or underlying Warrant Shares (as defined in the Warrant Issuance Agreement)), or Tranche B Loans, desired to be sold by the Assignor (collectively, the “Offered
Loans”). Upon receipt of the Offer Letter, the Other Lenders (or any of them) shall have three (3) Business Days to elect to make an offer to collectively purchase all of the Offered Loans for cash by delivering a written notice of an
offer to the Assignor (the “Offer”). The Offer shall set forth the purchase price (the “Loans Offer Price”) for all of the Offered Loans that the Other Lender(s) making the Offer (the “Offering
Lenders”) desire(s) to purchase, which Loans Offer Price shall, in the event the Offering Lenders do not propose the same Loans Offer Price, be determined by holders of a majority of (x) with respect to a sale of any portion of the
Loans, the principal amount of the Loans then outstanding held by the Offering Lenders and (y) with respect to a sale of any Tranche B Loans, the principal amount of Tranche B Loans then outstanding held by the Offering Lenders. The Assignor
will then have ten (10) days from its receipt of the Offer to notify the Other Lenders in writing of its acceptance or rejection of the Offer. If no such acceptance or rejection notice is given by the Assignor, then the Assignor shall be deemed
to have rejected the Offer. In the event that the Assignor accepts the Offer, any Offering Lender and any Other Lender that desires to purchase a portion of the Offered Loans, shall have the right to purchase a portion of the Offered Loans on the
terms and conditions set forth in the Offer that was accepted by the Assignor and shall thereafter be deemed to be an “Offering Lender” for all purposes hereunder, and the accepted Offer shall be deemed made on a pro rata basis among such
Offering Lenders and Other Lenders on the basis of their pro rata ownership (together with their Affiliates) of (x) with respect to a sale of any portion of the Loans, the principal amount of the Commitments (or if no Commitments are
outstanding, the principal amount of the Loans) prior to such Offer, and (y) with respect to a sale of Tranche B Loans, the principal amount of Tranche B Loans prior to such Offer. The 

  
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closing of the purchase of the Offered Loans by the Offering Lenders (including any additional Other Lenders that desire to participate in such Offer) shall occur within thirty (30) days
after the Assignor’s acceptance of the Offer at the offices of the Borrower or as otherwise mutually agreed by the Assignor and the Offering Lenders (including any additional Other Lenders that desire to participate in such Offer), with notice
to the Administrative Agent. In the event that more than one Other Lender elects to be an Assignor, then, unless otherwise agreed by such Offering Lenders, such Offer shall be made on a pro rata basis among such Offering Lenders on the basis of
their pro rata ownership (together with their Affiliates) of (x) with respect to a sale of any portion of the Loans, the principal amount of the Loans prior to such Offer, and (y) with respect to a sale of Tranche B Loans, the principal
amount of Tranche B Loans prior to such Offer. Notwithstanding the foregoing, in the event that the Assignor rejects the Offer or the Offering Lenders, taken together, fail to close such purchase within the time period provided above, then such
Offered Loans may be sold by the Assignor to a third party within 120 days after the expiration of the applicable time period set forth above. Any such sale of Offered Loans to a third party shall be for consideration of not less than the Loans
Offer Price and upon other terms and conditions, if any, not materially less favorable to the purchaser than those specified in the Offer. Any Offered Loans not sold within such 120-day period shall continue to be subject to the requirements of a
prior offer and re-sale pursuant to this Section 10.6(b)(ii).” 
 (bb) Section 10.7(a)
(Indemnification) of the Credit Agreement is deleted in its entirety and replaced with the following: 
 “EACH CREDIT PARTY
SHALL, AND DOES HEREBY INDEMNIFY, ADMINISTRATIVE AGENT (AND ANY SUB-AGENT THEREOF) AND EACH LENDER, AND EACH OFFICER, DIRECTOR, EMPLOYEE, AGENT, ATTORNEY-IN-FACT AND AFFILIATE OF ANY OF THE FOREGOING PERSONS (EACH SUCH PERSON BEING CALLED AN
“INDEMNITEE”) AGAINST, AND HOLD EACH INDEMNITEE HARMLESS FROM, ANY AND ALL LOSSES, CLAIMS, DAMAGES, LIABILITIES AND RELATED EXPENSES (INCLUDING THE FEES, CHARGES AND DISBURSEMENTS OF ANY COUNSEL FOR ANY INDEMNITEE), INCURRED BY ANY
INDEMNITEE OR ASSERTED AGAINST ANY INDEMNITEE BY ANY THIRD PARTY OR BY ANY CREDIT PARTY ARISING OUT OF, IN CONNECTION WITH, OR AS A RESULT OF THE EXECUTION OR DELIVERY OF THIS AGREEMENT, ANY OTHER LOAN DOCUMENT OR ANY AGREEMENT OR INSTRUMENT
CONTEMPLATED HEREBY OR THEREBY, THE PERFORMANCE BY THE PARTIES HERETO OF THEIR RESPECTIVE OBLIGATIONS HEREUNDER OR THEREUNDER, THE CONSUMMATION OF THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY THE ADMINISTRATION OF THIS AGREEMENT AND THE OTHER
LOAN DOCUMENTS, ANY LOAN, ANY TRANCHE B LOAN, OR THE USE OR PROPOSED USE OF THE PROCEEDS THEREFROM, ANY ACTUAL OR ALLEGED PRESENCE OR RELEASE OF HAZARDOUS MATERIALS ON OR FROM ANY PROPERTY OWNED OR OPERATED BY ANY CREDIT PARTY OR

  
 20 

 
ANY OF ITS SUBSIDIARIES, OR ANY ENVIRONMENTAL LIABILITY RELATED IN ANY WAY TO ANY CREDIT PARTY OR ANY OF ITS SUBSIDIARIES, OR ANY ACTUAL OR PROSPECTIVE CLAIM, LITIGATION, INVESTIGATION OR
PROCEEDING RELATING TO ANY OF THE FOREGOING, WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY, WHETHER BROUGHT BY A THIRD PARTY OR BY ANY CREDIT PARTY OR ANY OF ITS SUBSIDIARIES, AND REGARDLESS OF WHETHER ANY INDEMNITEE IS A PARTY THERETO, IN ALL
CASES, WHETHER OR NOT CAUSED BY OR ARISING, IN WHOLE OR IN PART, OUT OF THE COMPARATIVE, CONTRIBUTORY OR SOLE NEGLIGENCE OF THE INDEMNITEE; PROVIDED THAT SUCH INDEMNITY SHALL NOT, AS TO ANY INDEMNITEE, BE AVAILABLE TO THE EXTENT THAT SUCH LOSSES,
CLAIMS, DAMAGES, LIABILITIES OR RELATED EXPENSES ARE DETERMINED BY A COURT OF COMPETENT JURISDICTION BY FINAL AND NONAPPEALABLE JUDGMENT TO HAVE RESULTED FROM THE GROSS NEGLIGENCE OR WILLFUL MISCONDUCT OF SUCH INDEMNITEE.” 

(cc) Section 10.7(b) (Waiver of Damages) of the Credit Agreement is deleted in its entirety and replaced with the
following: 
 “To the fullest extent permitted by applicable law, no Credit Party shall assert, and each Credit Party
hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any
other Loan Document or any agreement or instrument contemplated hereby, the transactions contemplated hereby or thereby, any Loan, Tranche B Loan or the use of the proceeds thereof. No Indemnitee referred to in Section 10.7(a) shall be liable
for any damages arising from the use by unintended recipients of any information or other materials distributed by it through telecommunications, electronic or other information transmission systems in connection with this Agreement or the other
Loan Documents or the transactions contemplated hereby or thereby. 
 (dd) The Credit Agreement is amended to add a new
Exhibit L (Form of Tranche B Note) in the form of Exhibit L to this Amendment. The Credit Agreement is amended to add a new Schedule 1-B (Tranche B Commitment) in the form of Schedule 1-B to this Amendment. 

3. Joinder by Target. 
 (a) In accordance with Section 5.12 of the Credit Agreement, upon the closing of the Target Acquisition on or before December 31, 2012, Target, by its signature below, hereby
agrees with the Administrative Agent, Lenders, Borrower and the other Credit Parties, that Target (a) automatically and without further action by any party joins the Credit Agreement as a party thereto, agrees to become a “Guarantor”
and a “Credit Party” thereunder, and absolutely and unconditionally assumes, jointly and severally with the Guarantors and the Credit Parties, all of the obligations of a Guarantor and a Credit Party under the Credit Agreement, with the
same force and 

  
 21 

 
effect as if it had been originally named as a Guarantor and a Credit Party therein, (b) pursuant to the Assumption Agreement attached hereto as Exhibit A, joins the Pledge and Security
Agreement as a party thereto, agrees to become a “Grantor” thereunder, and absolutely and unconditionally assumes, jointly and severally with the Grantors, all of the obligations of a Grantor under the Pledge and Security Agreement, with
the same force and effect as if it had been originally named as a Grantor therein, (c) agrees to be bound by the provisions of the Credit Agreement and the other Loan Documents as a “Guarantor”, a “Credit Party” and a
“Grantor”, as applicable as if it had been an original party to the Credit Agreement and the other Loan Documents, (d) hereby unconditionally grants and pledges to the Administrative Agent, for its benefit and for the ratable benefit
of the Lenders, to secure the prompt and complete payment and performance when due (whether at the stated maturity, by acceleration or otherwise) to the Administrative Agent and each Lender of the Obligations, a continuing security interest in and
to and Lien on all of Target’s right, title and interest in the Collateral, whether now owned or existing or hereafter acquired or arising and wheresoever located, in accordance with the Pledge and Security Agreement, and (d) confirms
that, upon its joinder to the Credit Agreement and the Loan Documents as set forth above, the representations and warranties set forth in the Credit Agreement and the Loan Documents with respect to it are true and correct in all material respects as
of the date hereof and that no Default or Event of Default has occurred and is continuing. Target shall cooperate with the Administrative Agent and each Lender and execute such further instruments and documents as the Administrative Agent or any
Lender may reasonably request to effectuate this joinder to the Credit Agreement by Target. 
 (b) The following
Schedules to the Credit Agreement are hereby supplemented to add the information set forth on Annex A to this Amendment effective as of the closing of the Target Acquisition on or before December 31, 2012: Schedules 4.5, 4.7,
4.12(b), 4.13(a), 4.15(d), 4.17, 4.19, 4.20, 4.21, 4.23, and 6.22. 
 4. Waiver. Borrower has failed to pay Lenders
existing on the Closing Date the Closing Fee required to be paid by it on the Closing Date pursuant to the Lenders Fee Letter and Section 2.5 of the Credit Agreement and, as a result, an Event of Default under Section 7.1(a) of the Credit
Agreement (the “Specified Default”) has occurred. Each Credit Party hereby acknowledges and agrees that the “Specified Default” has occurred, and is continuing and cannot be cured by it, and has not previously been waived
by the Lenders. Subject to the satisfaction of the conditions precedent set forth in Section 13 hereof, the Lenders hereby waive the Specified Default and any other Default or Event of Default arising therefrom as of the effectiveness of this
Amendment. Nothing contained herein shall be deemed to constitute a waiver of any Default or Event of Default (whether now existing or hereafter arising) other than the Specified Default, whether or not known to the Administrative Agent or any
Lender. The Lenders’ entry into this Amendment shall not obligate or commit the Lenders to provide any other consents or waivers under the Credit Agreement or the other Loan Documents in the future, whether for purposes similar to those
described herein or otherwise. 
 5. Compass LC Facility. The Requisite Lenders hereby approve and consent to the
Borrower’s execution, delivery and performance of the Compass LC Facility and the use of proceeds from any Advance and the Tranche B Loans to cash collateralize obligations under the Compass LC Facility, so long as the Debt under the Compass LC
Facility is permitted by the terms of the Credit Agreement. 

  
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 6. Amendment to Pledge and Security Agreement. 

(a) The definition of “Excluded Property” in Section 2 of the Pledge and Security Agreement is hereby
amended by deleting the “and” immediately before clause (d) thereof and inserting a new clause (e) immediately after the words “JV Interests” as follows: 

(e) each Deposit Account, securities account or certificate of deposit specifically pledged by the Borrower to Compass Bank in connection
with the Compass LC Facility and any cash, securities or deposits in such account, so long as such cash collateral is specifically segregated from other Collateral pledged by the Credit Parties and so long as the Debt under the Compass LC Facility
is permitted by the terms of the Credit Agreement 
 (b) The definition of “Excluded Account” in
Section 5.1 of the Pledge and Security Agreement is hereby amended by deleting the “and” immediately before clause (iv) thereof and inserting a new clause (v) immediately after the words “shall be so designated” as
follows: 
 (v) each Deposit Account, securities account or certificate of deposit specifically pledged by the Borrower to
Compass Bank in connection with the Compass LC Facility and any cash, securities or deposits in such account, so long as such cash collateral is specifically segregated from other Collateral pledged by the Credit Parties and so long as the Debt
under the Compass LC Facility is permitted by the terms of the Credit Agreement 
 (c) The definition of
“Guarantor Obligations” in the Pledge and Security Agreement is hereby ameded by inserting the following at the end thereof, immediately after the phrase “Company Obligations”: 

provided, for the avoidance of doubt, that the JV Holding Sub’s Guarantor Obligations shall, in no event, include or be
deemed to include any of the Company Obligations other than the Capped Guaranteed Obligations, 
 7. Amendment to Parent
Pledge Agreement. Section 2.2 of the Parent Pledge Agreement is hereby amended by adding the phrase “(other than any Tranche B Obligations)” at the end thereof immediately after the word “Obligations”. 

8. Sale of Oilfield Stock. Notwithstanding anything herein or in any other Loan Document to the contrary, the Lenders hereby
consent to the sale (the “Oilfield Disposition”) by the Borrower of the Equity Interests of Oilfield Tubulars & Supply LLC (“Oilfield”) owned by the Borrower pursuant to the terms and conditions of that certain
Membership Interest Purchase Agreement, dated as of December 26, 2012 by and between by the Borrower and the Industrial Group LLC (the “Membership Purchase Agreement”), and agree that such Equity Interests shall be released
from the Lien granted to the Administrative Agent pursuant to Section 8.10(c) of the 

  
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Credit Agreement upon the Disposition of such Equity Interests pursuant to the Membership Purchase Agreement, and upon the Oilfield Disposition the Lenders hereby authorize the Administrative
Agent to execute the Partial Release attached as Exhibit B hereto and all other documents and take all action reasonably requested by the Borrower (at the Borrower’s sole expense) to evidence the release of such Equity Interests from the
Secured Parties’ Liens, including, without limitation, filing or causing to be filed the UCC-3 amendment statement attached as Exhibit C hereto. The Borrower hereby notifies the Administrative Agent and the Lenders pursuant to
Section 2.8(c) of the Credit Agreement (as amended hereby) that it intends to invest all of the Net Cash Proceeds from the Oilfield Disposition in the Target pursuant to the Target Acquisition. Accordingly, such Net Cash Proceeds will not be
applied to the repayment of the Obligations or the Tranche B Obligations to the extent they are actually so invested. 
 9.
Consent to Change of Name. The Lenders hereby waive the 10 days’ prior written notice required under Section 5.17(a) of the Credit Agreement with respect to the Target’s change of name in connection with the Target Acquisition
and agree that the Target may, concurrently with or after the consummation of the Target Acquisition, change its name to “Texadian Energy, Inc.” and Target’s subsidiary may change its name to “Texadian Energy Canadian
Limited”, provided that the Credit Parties shall, prior to or concurrently with such name change, have complied with the other provisions of Section 5.17(a) and shall notify the Administrative Agent of such name change promptly upon
receipt of evidence thereof. 
 10. Direction to execute JPM Consent. The Lenders hereby direct the Administrative Agent
to execute the consent attached as Exhibit D hereto and to deliver such executed consent to the Borrower and the JV Company Credit Facility Agent on the Third Amendment Effective Date. 

11. Representations and Warranties. Each of the Borrower and each of the Guarantors hereby confirms, reaffirms and restates the
representations and warranties made by it in the Credit Agreement, as amended hereby, and confirms that all such representations and warranties are true and correct in all material respects as of the date hereof. The Borrower and each Guarantor
further represent and warrant (which representations and warranties shall survive the execution and delivery of this Amendment) to the Lenders that: 
 (a) The execution, delivery, and performance by each Credit Party of this Amendment and the consummation of the transactions contemplated hereby, (i) are within such Credit Party’s governing
powers, (ii) have been duly authorized by all necessary governing action, (iii) do not contravene (x) such Credit Party’s Organizational Documents or (y) any law or any contractual restriction binding on or affecting such
Credit Party, and (d) will not result in or require the creation or imposition of any Lien prohibited by the Loan Documents; 
 (b) No consent, order, authorization, or approval or other action by, and no notice to or filing with, any Governmental Authority or any other Person is required for the due execution, delivery, and
performance by any Credit Party of this Amendment, or the consummation of the transactions contemplated hereby, except for those consents and approvals that have been obtained or made on or prior to the date hereof and that are in full force and
effect; 

  
 24 

 (c) This Amendment has been duly executed and delivered by such Credit Party and is the
legal, valid, and binding obligation of each Credit Party enforceable against such Credit Party in accordance with its terms, except as such enforceability may be limited by any applicable bankruptcy, insolvency, reorganization, moratorium,
fraudulent conveyance or transfer, or similar law affecting creditors’ rights generally and by general principles of equity; and 
 (d) No Default or Event of Default has occurred and is continuing. 
 12. Effect
of this Amendment. Except as expressly amended hereby, the Credit Agreement and the other Loan Documents are ratified and confirmed in all respects and shall remain in full force and effect in accordance with their respective terms. The terms of
this Amendment shall not be deemed (i) a waiver of any Default or Event of Default, (ii) a consent, waiver or modification with respect to any term, condition, or obligation of the Borrower or any other Credit Party in the Credit Agreement
or any other Loan Document except as expressly set forth above, (iii) a consent, waiver or modification with respect to any other event, condition (whether now existing or hereafter occurring) or provision of the Loan Documents or (iv) to
prejudice any right or remedy which the Administrative Agent or any Lender may now or in the future have under or in connection with the Credit Agreement or any other Loan Document. 

13. Conditions Precedent. This Amendment shall become effective when, and only when, (i) all Lenders shall have executed this
Amendment and received counterparts of this Amendment, duly executed by the Borrower and each Guarantor, and (ii) all conditions precedent set forth in Appendix 3 hereto shall have been satisfied or waived, as provided therein, provided that,
notwithstanding anything herein to the contrary, Section 3 (Joinder) hereof shall not be effective until the consummation of the Target Acquisition on or prior December 31, 2012. 

14. Miscellaneous. 
 (a) Survival of Representations and Warranties. All representations and warranties made in this Amendment or any other document furnished in connection with this Amendment shall survive the
execution and delivery of this Amendment and such other documents, and no investigation by the Administrative Agent or the Lenders or any closing of any transaction shall affect the representations and warranties or the right of the Administrative
Agent or the Lenders to rely upon them. 
 (b) Notices. All notices required to be made under this Amendment shall be made
in the manner and at the address set forth in Section 10.2 of the Credit Agreement. 
 (c) Expenses.
The Borrower agrees to pay or reimburse the Administrative Agent and the Lenders for all reasonable fees and out-of-pocket disbursements incurred by the Administrative Agent or the Lenders in connection with the preparation, execution, delivery,
administration and enforcement of this Amendment, including without limitation the reasonable fees and disbursements of counsel for the Administrative Agent and the Lenders, to the same extent that the Borrower would be required to do so pursuant to
Section 10.4 of the Credit Agreement. 

  
 25 

 (d) Reference to Credit Agreement. From and after the effectiveness of this
Amendment, all references to the Credit Agreement shall mean the Credit Agreement as amended hereby and as hereafter modified, amended, restated or supplemented from time to time, and each reference in any other Loan Document to the Credit Agreement
shall mean the Credit Agreement as amended hereby and as hereafter modified, amended, restated or supplemented from time to time. The Amendment shall constitute a Loan Document under the Credit Agreement for all purposes. 

(e) Severability. Any provision of this Amendment held by a court of competent jurisdiction to be invalid or unenforceable, such
provision shall be inapplicable to the extent of such invalidity without affecting the validity or enforceability of the remainder of this Amendment and the effect thereof shall be confined to the provision so held to be invalid or unenforceable.

 (f) Section Headings. Section headings herein are included for convenience of reference only and shall not affect the
meaning or interpretation of this Amendment. 
 (g) Entire Agreement. This Amendment shall be deemed to be a Loan Document
and, together with the other Loan Documents and the agreements, documents and instruments contemplated hereby, constitutes the entire understanding of the parties with respect to the subject matter hereof and thereof, and any other prior or
contemporaneous agreements, whether written or oral, with respect hereto or thereto are expressly superseded hereby and thereby. 

(h) Counterparts. This Amendment may be executed in any number of counterparts and by different parties on separate counterparts,
each of which, when executed and delivered, shall be deemed to be an original, and all of which, when taken together, shall constitute but one and the same Amendment. Delivery of an executed counterpart of this Amendment by facsimile or .pdf shall
be equally as effective as delivery of an original executed counterpart of this Amendment. Any party delivering an executed counterpart of this Amendment by facsimile or .pdf also shall deliver an original executed counterpart of this Amendment but
the failure to deliver an original executed counterpart shall not affect the validity, enforceability, and binding effect of this Amendment. 
 (i) Successors and Assigns. This Agreement shall be binding on and inure to the benefit of the parties hereto and their heirs, beneficiaries, successors and assigns. The Credit Parties may not
assign this Amendment or any of their respective rights or obligations hereunder to any Person without the prior written consent of the Requisite Lenders, which consent may be withheld or given in each such Lender’s sole discretion. 

(j) Governing Law; Venue; Jury Trial. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY,
AND CONSTRUED IN ACCORDANCE WITH, THE CHOICE OF LAW AND VENUE PROVISIONS SET FORTH IN SECTION 10.12 OF THE CREDIT AGREEMENT, AND SHALL BE SUBJECT TO THE JURY TRIAL WAIVER SET FORTH IN SECTION 10.14 OF THE CREDIT AGREEMENT. 

  
 26 

 (k) Guarantors. Each Guarantor, for value received, hereby expressly consents and
agrees to the Borrower’s execution and delivery of this Amendment, and to the performance by the Borrower of its agreements and obligations hereunder. This Amendment and the performance or consummation of any transaction or matter contemplated
under this Amendment, shall not limit, restrict, extinguish or otherwise impair any Guarantor’s liability to the Administrative Agent and Lenders with respect to the payment and other performance obligations of such Guarantor pursuant to the
Guarantees. Each Guarantor hereby ratifies, confirms and approves its Guarantee and acknowledges that it is unconditionally liable to the Administrative Agent and Lenders for the full and timely payment of the Guaranteed Obligations (on a joint and
several basis with the other Guarantors). Each Guarantor hereby acknowledges that it has no defenses, counterclaims or set-offs with respect to the full and timely payment of any or all Guaranteed Obligations. 

[Remainder of Page Intentionally Left Blank; Signature Pages to Follow] 

  
 27 

 IN WITNESS WHEREOF, each of the parties hereto has duly executed this Third Amendment to
Delayed Draw Term Loan Credit Agreement and Joinder Agreement as of the date first written above. 
  

			
	BORROWER:
	
	PAR PETROLEUM CORPORATION, a
	Delaware corporation
		
	By:	 	 /s/ R. Seth Bullock

	Name:	 	R. Seth Bullock
	Title:	 	Chief Financial Officer
	
	GUARANTORS:
	
	PAR PICEANCE ENERGY EQUITY LLC, a
	Delaware limited liability company
	
	By: PAR PETROLEUM CORPORATION, a
	Delaware corporation, its Sole Member
		
	By:	 	 /s/ R. Seth Bullock

	Name:	 	R. Seth Bullock
	Title:	 	Chief Financial Officer
	
	PAR UTAH LLC, a Delaware limited liability
	company
	
	By: PAR PETROLEUM CORPORATION, a
	Delaware corporation, its Sole Member
		
	By:	 	 /s/ R. Seth Bullock

	Name:	 	R. Seth Bullock
	Title:	 	Chief Financial Officer
	
	EWI LLC, a Delaware limited liability company
	
	By: PAR PETROLEUM CORPORATION, a
	Delaware corporation, its Sole Member
		
	By:	 	 /s/ R. Seth Bullock

	Name:	 	R. Seth Bullock
	Title:	 	Chief Financial Officer

  
 Signature Page
to Third Amendment to Delayed Draw Term Loan Credit Agreement 

			
	PAR WASHINGTON LLC, a Delaware limited
	liability company
	
	By: PAR PETROLEUM CORPORATION, a
	Delaware corporation, its Sole Member
		
	By:	 	 /s/ R. Seth Bullock

	Name:	 	R. Seth Bullock
	Title:	 	Chief Financial Officer
	
	PAR NEW MEXICO LLC, a Delaware limited
	liability company
	
	By: PAR PETROLEUM CORPORATION, a
	Delaware corporation, its Sole Member
		
	By:	 	 /s/ R. Seth Bullock

	Name:	 	R. Seth Bullock
	Title:	 	Chief Financial Officer
	
	HEWW EQUIPMENT LLC, a Delaware limited
	liability company
	
	By: PAR PETROLEUM CORPORATION, a
	Delaware corporation, its Sole Member
		
	By:	 	 /s/ R. Seth Bullock

	Name:	 	R. Seth Bullock
	Title:	 	Chief Financial Officer
	
	PAR POINT ARGUELLO LLC, a Delaware
	limited liability company
	
	By: PAR PETROLEUM CORPORATION, a
	Delaware corporation, its Sole Member
		
	By:	 	 /s/ R. Seth Bullock

	Name:	 	R. Seth Bullock
	Title:	 	Chief Financial Officer

  
 Signature Page
to Third Amendment to Delayed Draw Term Loan Credit Agreement 

 Effective as to Seacor Energy Inc. as of the consummation of the Target Acquisition on or before
December 31, 2012. 
  

			
	SEACOR ENERGY INC.
		
	By:	 	 /s/ R. Seth Bullock

	Name:	 	R. Seth Bullock
	Title:	 	Vice President, Treasurer and Secretary

  
 Signature Page
to Third Amendment to Delayed Draw Term Loan Credit Agreement 

			
	ADMINISTRATIVE AGENT:
	
	JEFFERIES FINANCE LLC
		
	By:	 	 /s/ J. Paul McDonnell

	Name:	 	J. Paul McDonnell
	Title:	 	Managing Director

  
 Signature Page
to Third Amendment to Delayed Draw Term Loan Credit Agreement 

			
	 LENDERS:

 
 WB DELTA, LTD.,

as a Lender

		
	 By:
	 	 /s/ Mark Strefling

	 Name:
	 	 Mark Strefling

	 Title:
	 	 Director

  
 [Signature
Page to Third Amendment to Delayed Draw Term Loan Credit Agreement, Joinder, 
 Waiver, Consent and Omnibus Amendment Agreement]

			
	 ZCOF PAR PETROLEUM HOLDINGS, L.L.C., as a

Lender

		
	By:	 	 /s/ Jon Wasserman

	Name:	 	Jon Wasserman
	Title:	 	Vice President

  
 [Signature
Page to Third Amendment to Delayed Draw Term Loan Credit Agreement, Joinder, 
 Waiver, Consent and Omnibus Amendment Agreement]

			
	 WATERSTONE OFFSHORE ER FUND, LTD., as
 a Lender
 By: Waterstone Capital Management, L.P.

		
	By:	 	 /s/ Jeffrey C. Erb

	Name:	 	Jeffrey C. Erb
	Title:	 	General Counsel
	
	PRIME CAPITAL MASTER SPC, GOT WAT
	 MAC SEGREGATED PORTFOLIO,
 as a Lender

	By: Waterstone Capital Management, L.P.
		
	By:	 	 /s/ Jeffrey C. Erb

	Name:	 	Jeffrey C. Erb
	Title:	 	General Counsel
	
	 WATERSTONE MARKET NEUTRAL MAC51,
 LTD., as a Lender

	By: Waterstone Capital Management, L.P.
		
	By:	 	 /s/ Jeffrey C. Erb

	Name:	 	Jeffrey C. Erb
	Title:	 	General Counsel
	
	 WATERSTONE MARKET NEUTRAL MASTER
 FUND, LTD., as a Lender

	By: Waterstone Capital Management, L.P.
		
	By:	 	 /s/ Jeffrey C. Erb

	Name:	 	Jeffrey C. Erb
	Title:	 	General Counsel
	
	WATERSTONE MF FUND, LTD., as a Lender
	By: Waterstone Capital Management, L.P.
		
	By:	 	 /s/ Jeffrey C. Erb

	Name:	 	Jeffrey C. Erb
	Title:	 	General Counsel

  
 [Signature
Page to Third Amendment to Delayed Draw Term Loan Credit Agreement, Joinder, 
 Waiver, Consent and Omnibus Amendment Agreement]

			
	NOMURA WATERSTONE MARKET NEUTRAL FUND, LTD., as a Lender
	By: Waterstone Capital Management, L.P.
		
	By:	 	/s/ Jeffrey C. Erb
	Name: Jeffrey C. Erb
	Title: General Counsel
	
	 WATERSTONE OFFSHORE BLR FUND LTD.,
 as a Lender

	By: Waterstone Capital Management, L.P.
		
	By:	 	/s/ Jeffrey C. Erb
	Name: Jeffrey C. Erb
	Title: General Counsel
	
	WATERSTONE DISTRESSED OPPORTUNITIES BLR FUND LTD., as a Lender
	By: Waterstone Capital Management, L.P.
		
	By:	 	/s/ Jeffrey C. Erb
	Name: Jeffrey C. Erb
	Title: General Counsel
	
	WATERSTONE OFFSHORE AD BLR FUND LTD., as a Lender
	By: Waterstone Capital Management, L.P.
		
	By:	 	/s/ Jeffrey C. Erb
	Name: Jeffrey C. Erb
	Title: General Counsel

  
 [Signature
Page to Third Amendment to Delayed Draw Term Loan Credit Agreement, Joinder, 
 Waiver, Consent and Omnibus Amendment Agreement]

			
	 HIGHBRIDGE INTERNATIONAL, LLC,
 as a Lender

	 By: Highbridge Capital Management, LLC,
 as Trading Manager

		
	By:	 	/s/ Jonathan Segal
	Name: Jonathan Segal
	Title: Managing Director

  
 [Signature
Page to Third Amendment to Delayed Draw Term Loan Credit Agreement, Joinder, 
 Waiver, Consent and Omnibus Amendment Agreement]

 APPENDIX 1-A 

NEW DEFINED TERMS 

“Compass LC Facility” means the letter of credit facility provided by Compass Bank, as letter of credit issuer, to
Borrower pursuant to a certain Letter of Credit Facility Agreement dated as of December 27, 2012, by and between the Borrower and Compass Bank d/b/a BBVA Compass, and any amendments, extensions or replacements thereto, whereby Compass Bank
agrees to issue letters of credit for the account of Borrower and its Subsidiaries. 
 “PIK-B Interest” has the
meaning assigned to such term in Section 2.05(a)(ii) in Appendix 2. 
 “Requisite Tranche B
Lenders” means, (a) at any time when there are more than two Tranche B Lenders, Tranche B Lenders holding unfunded Tranche B Commitments and outstanding Tranche B Loans representing more than 50% of the sum of all unfunded Tranche B
Commitments of the Tranche B Lenders and the all of outstanding Tranche B Loans of the Tranche B Lenders and (b) at any time when there are one or two Tranche B Lenders, all Tranche B Lenders, provided, however, that for purposes of determining
whether there are more than two Tranche B Lenders, a Tranche B Lender and each of its Approved Funds shall be deemed to constitute a single Tranche B Lender and; provided further that, if there are two or more Tranche B Lenders, the Tranche B
Commitment of, and the portion of Tranche B Loans held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Requisite Tranche B Lenders unless all Tranche B Lenders are Defaulting Lenders. 

“Segregated Account” has the meaning given such term in Section 2.13 of Annex 2 to the Credit Agreement.

 “Specified Account” has the meaning given such term in Section 2.13 of Annex 2 to the Credit Agreement.

 “Target” means Seacor Energy Inc., a Delaware corporation. 

“Target Acquisition” means the Acquisition by Borrower, directly or indirectly, of all of the issued and outstanding
common stock of Target pursuant to the Target Purchase Agreement. 
 “Target Property” means any property or
assets (whether real, person, or mixed, tangible or intangible, of Target. 
 “Target Purchase Agreement” means
that certain Purchase and Sale Agreement dated on or about December 31, 2012, between Seacor Holdings, Seacor Energy Inc. and Borrower. 
 “Third Amendment” means that certain Third Amendment to Delayed Draw Term Loan Credit Agreement and Joinder Agreement dated December 28, 2012, among Borrower, the other Credit
Parties thereto, Lenders, and the Administrative Agent. 

  
 Appendix 1-A
– Page 1 

 “Third Amendment Effective Date” means December 28, 2012. 

“Tranche B Commitment” means, with respect to each Tranche B Lender, the commitment of such Tranche B Lender to fund its
Pro Rata Share of Tranche B Loans in accordance with the provisions hereof and as set forth on Schedule I-B. The aggregate amount of the Tranche B Commitment on the Third Amendment Effective Date is $35,000,000. 

“Tranche B Default Rate” has the meaning assigned such term in Appendix 2. 

“Tranche B Exit Fee” has the meaning given such term in Appendix 2. 

“Tranche B Lender” means a party hereto that (a) is a lender specified on Schedule 1-B on the Third Amendment
Effective Date or (b) is an Eligible Assignee that became a Tranche B Lender under this Agreement pursuant to Section 2.13 or Section 10.6. 
 “Tranche B Loan” means each Tranche B loan made by the Tranche B Lenders to the Borrower pursuant to Section 2.01(b) of the Appendix 2. 

“Tranche B Maturity Date” means, in accordance with the terms of this Agreement, the earliest to occur of (i) the
acceleration (whether automatic or by written notice) of any Obligations, (ii) July 1, 2013, and (iii) January 7, 2013, only if the Target Acquisition is not consummated prior to January 1, 2013. 

“Tranche B Obligations” means all Obligations relating to or arising out of or in connection with the Tranche B Loans or
the Tranche B Commitments. 

  
 Appendix 1-A
– Page 2 

 APPENDIX 1-B 

EXISTING DEFINED TERMS 

“Applicable Premium” means, the greater of (i) 1.0% of the outstanding principal balance of the Obligations,
excluding Tranche B Obligations, as of any Make-Whole Prepayment Date and (ii) the excess of the present value at such Make-Whole Prepayment Date, computed using a discount rate equal to the Treasury Rate at such Make-Whole Prepayment Date,
plus 50 basis points, of the sum of (A) all scheduled interest payments due on the Obligations, excluding Tranche B Obligations, from such Make-Whole Prepayment Date through the first anniversary of the Closing Date (exclusive of any accrued
and unpaid interest to the Make-Whole Prepayment Date) plus, (B) the First Anniversary Prepayment Amount (assuming the First Anniversary Prepayment Amount were paid on the first anniversary of the Closing Date) over (C) the outstanding
principal amount of the Obligations excluding Tranche B Obligations, of the Make-Whole Prepayment Date. 

“Borrowing” means any Loan and any Tranche B Loan permitted to be made hereunder. 

“Borrowing Request” means a request by the Borrower in accordance with the terms of Section 2.1 or
Section 2.01 of Appendix 2, as the case may be, and substantially in the form of Exhibit G, or such other form as shall be approved by the Administrative Agent. 
 “Interest Payment Date” means (i) the last Business Day of each fiscal quarter of the Borrower during any period in which any portion of the Loans or Tranche B Loans are outstanding,
(ii) in the case of the Loans, the Maturity Date, and (iii) in the case of the Tranche B Loans, the Tranche B Maturity Date. 
 “Lenders” means a party hereto that (a) is a Lender listed on the signature pages of this Agreement on the date hereof, (b) is an Eligible Assignee that became a Lender under
this Agreement pursuant to Section 2.13 or Section 10.6, or (c) is a Tranche B Lender. 

“Maturity Date” means, in accordance with the terms of this Agreement, the earliest to occur of (i) the
acceleration (whether automatic or by written notice) of any Obligations, and (ii) August 31, 2016. 

“Note” means a promissory note of Borrower payable to any Lender, in substantially the form of (a) the attached
Exhibit E, evidencing the indebtedness of Borrower to such Lender resulting from Advances owing to such Lender, and (b) the attached Exhibit L, evidencing the indebtedness of Borrower to such Lender resulting from Tranche B Loans
owing to such Lender. 
 “Non-Consenting Lender” means, any Lender that does not approve any consent, waiver or
amendment that (i) requires the approval of all affected Lenders in accordance with the terms of Section 10.1 and (ii) has been approved by the Requisite Lenders and the Requisite Tranche B Lenders. 

  
 Appendix 1-B
– Page 1 

 “Obligations” means (a) obligations of the Borrower and the other
Credit Parties from time to time to pay (and otherwise arising under or in respect of the due and punctual payment of) (i) the principal of and premium, if any, and interest (including interest accruing during the pendency of any proceeding
under any Debtor Relief Law, regardless of whether allowed or allowable in such proceeding) on the Loans, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, (ii) the principal of and
premium, if any, and interest (including interest accruing during the pendency of any proceeding under any Debtor Relief Law, regardless of whether allowed or allowable in such proceeding) on the Tranche B Loans, when and as due, whether at
maturity, by acceleration, upon one or more dates set for prepayment or otherwise, and (iii) all other monetary obligations, including fees, costs, expenses and indemnities, whether primary, secondary, direct, contingent, fixed or otherwise
(including monetary obligations incurred during the pendency of any proceeding under any Debtor Relief Law, regardless of whether allowed or allowable in such proceeding), of the Borrower and the other Credit Parties under this Agreement and the
other Loan Documents and (b) the due and punctual performance of all covenants, agreements, obligations and liabilities of the Borrower and the other Credit Parties under or pursuant to this Agreement and the other Loan Documents. 

“Other Connection Taxes” means, with respect to any recipient, Taxes imposed as a result of a present or former
connection between such recipient and the jurisdiction imposing such Tax (other than connections arising from such recipient having executed, delivered, become a party to, performed its obligations under, received payments under, received or
perfected a security interest under, engaged in any other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan, Tranche B Loan or Loan Document). 

“Permitted Subordinated Debt” means Debt incurred by the Credit Parties; provided that (i) such Debt shall be
subordinated in right of payment to the payment in full of the Obligations, (ii) such Debt shall be either (x) unsecured or (y) secured by the Collateral on a junior basis (including with respect to the control of remedies) with the
Obligations, (iii) if such Debt is secured, the holders of such Debt (or their senior representative or agent) and the Administrative Agent (and if such Debt is secured by the JV Interests, the JV Company Credit Facility Agent) shall be party
to an intercreditor agreement reasonably satisfactory to the Administrative Agent, (iv) such Debt shall not be at any time guaranteed by any Subsidiaries other than Subsidiaries that are Guarantors and the terms of such guarantee shall be no
more favorable to the secured parties in respect of such Debt than the terms of the Guaranty, (v) such Debt shall have covenants, default and remedy provisions and other terms and conditions (other than interest, fees, premiums, funding
discounts or optional prepayment or redemption provisions) that are substantially identical to, or less favorable to the investors providing such Debt than, those set forth in this Agreement, (vi) the maturity date of such Debt shall be no
earlier than the date that is six (6) months after the Maturity Date, and (vii) there shall be no scheduled amortization of such Debt, and such Debt shall not be subject to mandatory redemption, repurchase, prepayment or sinking fund
obligation (except customary asset sale or change-of-control provisions that provide for the prior repayment in full of the Loans, the Tranche B Loans and all other Obligations), in each case prior to the date that is six months after the Maturity
Date. 

  
 Appendix 1-B
– Page 2 

 “Pro Rata Share” means as to any Lender, at the relevant date of
determination, (a) with respect to the Loans, the fraction (expressed as a percentage), the numerator of which is such Lender’s unfunded Commitment (if any) and outstanding Loans and the denominator of which is the aggregate amount of all
of the Lenders’ unfunded Commitments and all of the outstanding Loans of the Lenders, and (b) with respect to the Tranche B Loans, the fraction (expressed as a percentage), the numerator of which is the portion of Tranche B Loans
outstanding and owed to such Tranche B Lender, and the denominator of which is the aggregate outstanding amount of all the outstanding Tranche B Loans of the Tranche B Lenders. 

“Requisite Lenders” means with respect to the Loans, (a) at any time when there are more than two Lenders holding
Loans, Lenders holding unfunded Commitments and outstanding Loans representing more than 50% of the sum of all unfunded Commitments of the Lenders and all of the outstanding Loans of the Lenders and (b) at any time when there are one or two
Lenders holding Loans, all such Lenders, provided, however, that for purposes of determining whether there are more than two such Lenders, a Lender and each of its Approved Funds shall be deemed to constitute a single Lender and; provided further
that, if there are two or more such Lenders, the Commitment of, and the portion of the Advances held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Requisite Lenders unless all such Lenders are
Defaulting Lenders. 

  
 Appendix 1-B
– Page 3 

 APPENDIX 2 

TRANCHE B 

2.01 Tranche B Commitment. (a) Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth
herein, each Tranche B Lender severally, and not jointly, agrees to make a Tranche B Loan available to the Borrower in Dollars in an aggregate principal amount not to exceed such Tranche B Lender’s Tranche B Commitment on the Third Amendment
Effective Date in accordance with this Appendix 2; provided, however, (i) with regard to each Tranche B Lender individually, the aggregate principal amount of such Tranche B Lender’s outstanding Tranche B Loans shall not at any time
exceed such Lender’s Tranche B Commitment, which is set forth in Schedule I-B attached hereto, and (ii) with regard to the Tranche B Lenders collectively, the sum of the aggregate principal amount of Tranche B Loans made
hereunder shall not at any time exceed the Tranche B Commitment for all Tranche B Lenders. The failure of any Tranche B Lender to make any Tranche B Loan shall not in itself relieve any other Tranche B Lender of its obligation to lend hereunder (it
being understood, however, that no Tranche B Lender shall be responsible for the failure of any other Tranche B Lender to make any Tranche B Loan required to be made by such other Tranche B Lender). Amounts repaid or prepaid on any Tranche B Loans
may not be reborrowed. 
 (b) Each Tranche B Lender shall make its Tranche B Loan on the Third Amendment Effective Date by wire
transfer of immediately available funds to such account in New York City as the Administrative Agent may designate not later than 10:00 a.m., New York City time, and the Administrative Agent shall promptly credit and/or remit the amounts so received
to an account as directed by the Borrower in the applicable Borrowing Request or, if a Borrowing shall not occur on such date because any condition precedent herein specified shall not have been met or waived in accordance herewith, return the
amounts so received to the respective Tranche B Lenders. 
 (c) The Administrative Agent shall only be required to advance funds
to the Borrower with respect to Tranche B Loans to the extent that the Administrative Agent shall have received such funds from the Tranche B Lenders. 
 (d) To request Tranche B Loans, the Borrower shall deliver, by hand delivery or email, a duly completed and executed Borrowing Request to the Administrative Agent and each Tranche B Lender not less than
one Business Day before the Third Amendment Effective Date. Each such Borrowing Request shall be irrevocable and shall specify the following information in compliance with the foregoing provisions of Section 2.01: 

 

	 	(i)	the aggregate amount of the Tranche B Loans; 

  

	 	(ii)	the date on which the Tranche B Loans are to be advanced, which shall be the Third Amendment Effective Date; 

 

	 	(iii)	the location and number of Borrower’s Deposit Accounts at Compass Bank to which funds are to be disbursed (i) to the Segregated Account to cash collateralize
letters of credit under the Compass LC Facility, and (ii) to the Specified Account; and 

  
 Appendix 2
– Page 1 

	 	(iv)	that the conditions set forth in Appendix 3 have been satisfied with respect to the Tranche B Loans (other than consummation of the Target Acquisition on or before
December 31, 2012). 

 (e) Promptly following receipt of the Borrowing Request for Tranche B Loans in
accordance with this Section 2.01, the Administrative Agent shall advise each Tranche B Lender of the details thereof. 
 2.02
Funding Limitations. For the avoidance of doubt, Administrative Agent shall have no Tranche B Commitment (to make Tranche B Loans) in its capacity as Administrative Agent and Administrative Agent’s requirement to make Tranche B
Loans (from the Tranche B Loan proceeds received from the Tranche B Lenders) in accordance with the provisions hereof shall be limited to the funds that it receives from the Tranche B Lenders (to fund such Tranche B Loans). 

2.03 Evidence of Debt; Repayment of Tranche B Loans. 
 (a) The Borrower hereby unconditionally promises to pay to the Administrative Agent for the account of each Tranche B Lender, the unpaid principal amount of the Tranche B Loan of such Tranche B Lender and
all other Tranche B Obligations on the Tranche B Maturity Date (or sooner in accordance with the provisions hereof). All payments or repayments of Tranche B Obligations shall be made in Dollars. 

(b) Each Tranche B Lender shall maintain in accordance with its usual practice an account or accounts evidencing the indebtedness of the
Borrower to such Tranche B Lender resulting from the Tranche B Loan made by such Tranche B Lender, including the amounts of principal and interest payable and paid to such Tranche B Lender from time to time under this Agreement. 

(c) The Administrative Agent shall maintain accounts in which it will record (i) the amount of each Tranche B Loan made hereunder;
(ii) the amount of any principal or interest due and payable or to become due and payable from the Borrower to each Tranche B Lender hereunder; and (iii) the amount of any sum received by the Administrative Agent hereunder for the account
of the Tranche B Lenders and each Tranche B Lender’s share thereof. 
 (d) The entries made in the accounts maintained
pursuant to paragraphs (b) and (c) above shall be prima facie evidence of the existence and amounts of the obligations therein recorded in the absence of manifest error; provided that the failure of any Tranche B Lender or the
Administrative Agent to maintain such accounts or any error therein shall not in any manner affect the obligations of the Borrower to repay the Tranche B Loans in accordance with their terms. In the event of a conflict between records maintained by
any Tranche B Lender and the records of the Administrative Agent in respect of such matters, the records of the Administrative Agent shall control in the absence of manifest error. 

  
 Appendix 2
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 (e) Any Tranche B Lender by written notice to the Borrower (with a copy to the
Administrative Agent) may request that Tranche B Loans made by it be evidenced by a promissory note. In such event, the Borrower shall prepare, execute and deliver to such Tranche B Lender a promissory note payable to such Lender (or, if requested
by such Lender, to such Lender and its registered assigns) in the form of Exhibit L. Thereafter, Tranche B Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to
Section 10.6) be represented by one or more promissory notes in such form payable to the payee named therein (or, if such promissory note is a registered note, to such payee and its registered as signs). 

2.04 Tranche B Exit Fee. Borrower shall pay a fee in an amount equal to 5% of the aggregate Tranche B Commitments (the “Tranche B Exit
Fee”), which fee is payable pro rata to each Tranche B Lender who has a Tranche B Commitment on the Third Amendment Effective Date, based on its Pro Rata Share of the Tranche B Commitments on the Third Amendment Effective Date. The
Tranche B Exit Fee shall be fully-earned on the Third Amendment Effective Date, and is due and payable in full in immediately available funds by Borrower on the Tranche B Maturity Date or, if earlier, on the date on which the Tranche B Loans shall
be paid in full, whether voluntarily or as required herein, and is nonrefundable. The Tranche B Exit Fee shall in no way limit Borrower’s obligations to pay any other fee, or reimburse the Administrative Agent or the Lenders for any cost or
expense, under the Loan Documents. 
 2.05 Interest. (a) Tranche B Loans shall bear interest at the Borrower’s election,
subject to the terms and conditions hereof, as follows: 
  

	 	(i)	at a rate per annum equal to nine and three quarters percent (9.75%), payable in cash in accordance with Section 2.05(c) of this Appendix 2; or

  

	 	(ii)	at a rate per annum equal to nine and three quarters percent (9.75%) which shall be paid in kind and capitalized (and thereby added to principal, which shall
thereafter accrue interest) on the last day of each fiscal quarter (“PIK-B Interest”). 

 The
Borrower must elect the form of interest payment with respect to each Interest Period by delivering a written notice to the Administrative Agent and each Tranche B Lender at least thirty (30) days prior to the beginning of each Interest Period
which notice shall be irrevocable. In the absence of such an election for any Interest Period, interest on Tranche B Loans shall be payable according to the election for the previous Interest Period; provided, however, subject to
Section 2.05(b) of Appendix 2, at any time after an Event of Default shall have occurred and is continuing, the Borrower may not elect PIK-B Interest. For the avoidance of doubt, for purposes of this Section, the Borrower may file
materials with the SEC stating its intention regarding the election of the form of interest provided, that such filing shall not constitute notice unless a copy of such filing is delivered to the Administrative Agent and each Tranche B Lender. The
parties hereto hereby acknowledge and agree that the Borrower shall be deemed to have elected PIK-B Interest for the Interest Period beginning on the Third Amendment Effective Date. 

(b) Notwithstanding the foregoing, from and after the date that an Event of Default shall have occurred and be continuing (including,
without limitation, at any time during an Interest Period), at the request of the Requisite Tranche B Lenders (which such request may be made by the Administrative Agent at the direction of the Requisite Tranche B Lenders), (i) all outstanding
Tranche B Obligations shall, to the extent permitted by applicable law, bear interest 

  
 Appendix 2
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at a rate per annum equal to 11.75%, (or 2% plus the rate otherwise applicable to such Obligations as provided in Section 2.05(a)(i) of Appendix 2) (the “Tranche B Default
Rate”) and (ii) all interest accrued and accruing shall be payable in cash on demand; provided, that, from and after the occurrence of any Event of Default under Section 7.1(e), all outstanding Tranche B Obligations shall,
to the extent permitted by applicable law, bear interest at the Tranche B Default Rate automatically and without any notice from Administrative Agent, the Requisite Tranche B Lenders or any other Person. 

(c) Accrued interest on Tranche B Loans pursuant to Section 2.05(a) of Appendix 2 shall be payable in arrears on each Interest
Payment Date in accordance with Section 2.05(a) of Appendix 2; provided that (i) interest accrued at the Tranche B Default Rate pursuant to Appendix 2 shall be payable on demand and (ii) in the event of any repayment or
prepayment of Tranche B Loans, accrued interest on the principal amount repaid or prepaid shall be payable on the date of such repayment or prepayment. 
 (d) All interest hereunder shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). 

2.06 Optional Prepayments. At any time and from time to time, the Borrower, at its option, may repay Tranche B Loans, in whole or in part. Each
such repayment shall include all accrued and unpaid interest on the portion of Tranche B Loans being repaid (including, but not limited to, outstanding PIK-B Interest) through the date of repayment; provided that each partial repayment shall be in
an amount that is an integral multiple of $100,000 and not less than $100,000 or, if less, the outstanding principal amount of Tranche B Loans. 

2.07 Solvency. Each Credit Party represents and warrants to Administrative Agent and each of the Lenders, that, after giving effect to the Tranche
B Loans, the Target Acquisition, the Loans, the consummation of the transactions contemplated by the Third Amendment and the payment and accrual of all transaction costs in connection with the foregoing, the Credit Parties and their Subsidiaries,
taken as a whole, are Solvent. 
 2.08 Payment of Taxes, Etc. So long as any of the Obligations remain outstanding, each Credit Party
agrees, unless the Requisite Lenders and the Requisite Tranche B Lenders shall otherwise consent in writing, to comply with the following covenants. The Borrower does not intend to treat the Tranche B Loans as being a “reportable
transaction” within the meaning of Treasury Regulation Section 1.6011-4. In the event the Borrower determines that the Tranche B Loans are required to be so treated, it will promptly notify the Administrative Agent thereof. 

2.09 Use of Proceeds. So long as any of the Obligations remain outstanding, each Credit Party agrees, unless the Requisite Lenders and the
Requisite Tranche B Lenders shall otherwise consent in writing, to comply with the following covenants. No Credit Party nor any Person acting on behalf of such Credit Party has taken or shall take, nor permit any of the Credit Parties to take any
action which might cause any of the Loan Documents to violate Regulation T, U or X or any other regulation of the Board of Governors of the Federal Reserve System or to violate Section 7 of the Securities Exchange Act of 1934 or any rule or
regulation thereunder, in each case as now in effect or as the same may hereinafter be in effect, including without limitation, the use of the proceeds of Tranche B Loans to purchase or carry any margin stock in violation of Regulation T, U or X.

  
 Appendix 2
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 2.10 JV Interests. The Lenders and the Credit Parties covenant and agree that none of the Tranche B
Obligations shall at any time be secured by any interest in, Lien on, security interest in or right in or to the JV Holding Sub’s right, title and interest in the JV Interests, any “Common Collateral” (as defined in the Intercreditor
Agreement), or any portion thereof. 
 a) 2.11 Target Acquisition. The Credit Parties shall not consummate any Acquisition
of the Equity Interests of the Target other than the Target Acquisition. The Credit Parties agree that the Target Purchase Agreement will not be materially amended after the Third Amendment Effective Date unless such amendments are reasonably
approved by Requisite Lenders and the Requisite Tranche B Lenders. On the date of the consummation of the Target Acquisition, the Borrower shall deliver an opinion of Credit Parties’ counsel dated as of the date of such date covering the
matters with respect to the Target and the Target Property as Administrative Agent and Lenders may reasonably request. No later than ten (10) Business Days after the consummation of the Target Acquisition, the Target shall deliver to the
Administrative Agent insurance certificates naming Administrative Agent as additional insured, or loss payee, as applicable, and evidencing insurance which meets the requirements of the Credit Agreement, including without limitation,
Section 5.2 thereof, and the Security Instruments, and which is otherwise satisfactory to the Requisite Lenders and the Requisite Tranche B Lenders. 
 2.12 Deposit Accounts. On or before the 120th day after the Third Amendment Effective Date, the Target shall execute and deliver to the Administrative Agent, deposit account control agreements for
each of its Deposit Accounts in accordance with Section 5.1 of the Pledge and Security Agreement. 
 2.13 Application of Proceeds.
On or prior to the Third Amendment Effective Date, Borrower shall establish or designate a segregated Deposit Account with Compass Bank (the “Specified Account”) maintained in accordance with Section 5.1 of the Pledge and
Security Agreement. On the Third Amendment Effective Date, pursuant to the Borrowing Notice delivered by the Borrower with respect to the Tranche B Loans, the Agent shall transfer the proceeds of the Tranche B Loans (1) first, to a segregated
cash collateral Deposit Account to cash collateralize letters of credit under the Compass LC Facility (the “Segregated Account”), and (2) second, to the Specified Account to be set aside to pay the purchase price to consummate
the Target Acquisition on or before December 31, 2012 and for working capital purposes, in each case, in accordance with Section 5.9 of the Credit Agreement. Upon consummation of the Target Acquisition, which shall be on or before
December 31, 2012, the Borrower shall provide to the Administrative Agent a certificate from a Responsible Officer of the Borrower stating that (i) all conditions precedent to the Target Acquisition have been met and that the Target
Acquisition was consummated in accordance with the terms and conditions of the Target Purchase Agreement and this Agreement, (ii) after giving effect to the Target Acquisition, all representations and warranties of each Credit Party set forth
in the Credit Agreement (as amended hereby) are true and correct as of such date (except in the case of representations and warranties that are made solely as of an earlier date or time, which representations and warranties shall be true and correct
as of such earlier date or time); and (iii) after giving effect to the Target Acquisition, no Default has occurred and is continuing, and that, accordingly, the Tranche B 

  
 Appendix 2
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Maturity Date has been extended to July 1, 2013; it being understood and agreed that if the Administrative Agent does not receive such notice on or before December 31, 2012, it and the
Lenders shall be entitled to assume that the Target Acquisition did not occur in accordance with the Target Purchase Agreement and this Agreement on or before December 31, 2012 and that the Tranche B Maturity Date is January 7, 2013. If
the Target Acquisition is not consummated on or prior to December 31, 2012, the Borrower shall immediately cause all funds previously deposited as cash collateral into the Segregated Account to be transferred into the Specified Account, shall
not use or apply any of the funds and deposits in the Specified Account, and shall, on or prior to January 7, 2013, apply all funds in the Specified Account and any funds remaining in any Deposit Account where cash collateral for the Compass LC
Facility was deposited to the repayment of the Tranche B Obligations. Notwithstanding anything herein to the contrary, the Borrower shall repay all Tranche B Obligations on the Tranche B Maturity Date. 

  
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 APPENDIX 3 

CONDITIONS PRECEDENT TO TRANCHE B LOANS 

The obligation of each Tranche B Lender to fund its Pro Rata Share of the Tranche B Commitment on the Third Amendment Effective Date
shall be subject to the prior or concurrent satisfaction of each of the conditions precedent set forth in this Appendix 3 unless any such condition is waived, in writing by each Tranche B Lender: 

a) Documentation. Administrative Agent shall have received the following duly executed by all the parties thereto, in form and
substance satisfactory to the Administrative Agent, the Requisite Lenders and each Tranche B Lender, and, where applicable, in sufficient copies for the Administrative Agent and each Lender: 

i. the Third Amendment, any Note if requested by a Tranche B Lender payable to such Lender in the amount of its Tranche B
Commitment, amendments to the Pledge and Security Agreement and the Pledge Agreement, , and all attached exhibits and schedules hereto and thereto; 
 ii. certificates of a Responsible Officer of each Credit Party as of the date of this Agreement (A) attesting to the resolutions of the Board of Directors of such Credit Party approving the
execution, delivery and performance of the Loan Documents to which such Credit Party is a party, (B) certifying and attaching the Organizational Documents of such Credit Party, (C) certifying to and attaching all other documents evidencing
other necessary corporate action and governmental approvals, if any, with respect to this Agreement, the Third Amendment, the Tranche B Note, and the other Loan Documents and (D) certifying the names and true signatures of the officers of such
Credit Party authorized to sign this Agreement, any Notes and the other Loan Documents to which such Credit Party is a party; 
 iii. appropriate UCC-1 and UCC-3, as applicable, financing statements covering Target’s right, title and interest in the Collateral for filing with the appropriate authorities and any other
documents, agreements or instruments necessary to create an Acceptable Security Interest in such Collateral (other than the Excluded Collateral); 
 iv. certificates of good standing for the Target and each Credit Party in each state in which the Target and each Credit Party is organized and, with respect to the Target, in each state in which Target
is organized or qualified to do business, which certificate shall be dated as of a date not less than 15 days prior to the Third Amendment Effective Date and acceptable to the Requisite Tranche B Lenders and the Requisite Lenders; 

v. a certificate dated as of the date of this Agreement from the Responsible Officer of the Borrower stating that
(A) all representations and warranties of each Credit Party set forth in this Agreement are true and correct in all material respects (except that any representation and warranty that is qualified as to “materiality” or “Material
Adverse 

  
 Appendix 3
– Page 1 

 
Change” shall be true in all respects) as of such date (except in the case of representations and warranties that are made solely as of an earlier date or time, which representations and
warranties shall be true and correct as of such earlier date or time); and (B) after giving effect to the Waiver in the Third Amendment, no Default has occurred and is continuing as of such date; and (C) the conditions in this Appendix 3
(other than the consummation of the Target Acquisition) have been met; 
 vi. satisfactory review by the
Requisite Lenders and Requisite Tranche B Lenders of the letter of credit reimbursement agreement evidencing the Compass LC Facility, which shall be evidenced by a written notice by the Requisite Lenders and Requisite Tranche B Lenders to the
Administrative Agent and Borrower of such satisfactory review; 
 vii. such other documents, governmental
certificates, agreements and lien searches as the Administrative Agent or the Requisite Tranche B Lenders may reasonably request; and 
 viii. each Lender shall have received an executed copy or, if not available, the then current draft of the Target Purchase Agreement. 

b) Payment of Fees. On the Third Amendment Effective Date, Borrower shall have paid all costs and expenses that have been invoiced
and are payable pursuant to Section 10.4. 
 c) Security Instruments. Administrative Agent shall have received
all appropriate evidence required by Administrative Agent, the Requisite Lenders, and the Tranche B Lenders in their sole discretion necessary to determine that Administrative Agent (for its benefit and the benefit of the Secured Parties) shall have
an Acceptable Security Interest in the Collateral, including, without limitation, as of the date of the consummation of the Target Acquisitions, Collateral comprised of Target Property, other than Excluded Collateral and that all actions or filings
necessary to protect, preserve and validly perfect such Liens have been made, taken or obtained or shall, on the date of the consummation of the Target Acquisitions, be made, taken or obtained, as the case may be, and are (or with respect to the
Target, shall, on the date of the consummation of the Target Acquisition, be) in full force and effect. 
 d) No Default.
No event or conditions exists that would constitute a Default or Event of Default. 
 e) Representations and Warranties.
The representations and warranties contained in Article IV of the Credit Agreement, the Third Amendment, and in each other Loan Document shall be true and correct in all material respects (except that any representation and warranty that is
qualified as to “materiality” or “Material Adverse Change” shall be true and correct in all respects) as of such date (except in the case of representations and warranties that are made solely as of an earlier date or time, which
representations and warranties shall be true and correct as of such earlier date or time). 
 f) Material Adverse Change.
No event or circumstance that could cause a Material Adverse Change shall have occurred since the Closing Date. 

  
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 g) No Proceeding or Litigation, No Injunctive Relief. No action, suit, investigation
or other proceeding (including, without limitation, the enactment or promulgation of a statute or rule) by or before any arbitrator or any Governmental Authority shall be threatened or pending and no preliminary or permanent injunction or order by a
state or federal court shall have been entered (i) in connection with this Agreement, the Third Amendment, or any other document or transaction contemplated hereby or thereby or (ii) which, in any case, in the judgment of Requisite Tranche
B Lenders or the Requisite Lenders, could reasonably be expected to result in a Material Adverse Change (other than the developments under the litigation proceedings set forth on Schedule 4.7 which have been disclosed to Administrative
Agent and the Lenders prior to the Third Amendment Effective Date). 
 h) Consents, Licenses, Approvals, etc.
Administrative Agent shall have received true copies (certified to be such by the applicable Credit Party or other appropriate party) of all consents, licenses and approvals required in accordance with applicable law, or in accordance with any
document, agreement, instrument or arrangement to which any Credit Party is a party, in connection with the execution, delivery, performance, validity and enforceability of this Agreement, and the other Loan Documents. In addition, each Credit Party
shall have all such material consents, licenses and approvals required in connection with the continued operation of such Credit Party, and such approvals shall be in full force and effect, and all applicable waiting periods shall have expired
without any action being taken or threatened by any competent authority which would restrain, prevent or otherwise impose material and adverse conditions on this Agreement and the actions contemplated hereby. 

i) Repayment of Other Debt. Concurrently with, the making of Tranche B Loans hereunder, any Debt required to be paid pursuant to
the terms and conditions of the Target Purchase Agreement shall be paid in full or arrangements, reasonably acceptable to the Requisite Lenders and the Requisite Tranche B Lenders, for the repayment of such Debt on the date of the Target Acquisition
shall have been made. 
 j) USA PATRIOT Act. Each Credit Party shall have delivered to the Administrative Agent and each
Lender that is subject to the PATRIOT Act such information requested by the Administrative Agent and such Lender in order to comply with the PATRIOT Act. 
 k) Intercreditor Agreement. The consent of JPMorgan Chase Bank, N.A. pursuant to Section 6(a) of the Intercreditor Agreement, in form and substance reasonably acceptable to the Requisite
Lenders and the Requisite Tranche B Lenders, shall have been obtained. 
 l) Opinion. The Administrative Agent and Lenders
shall have received an opinion of Credit Parties’ counsel dated as of the date of this Agreement covering the matters as Administrative Agent and Lenders may reasonably request. 

m) Exit Closing Fee. The Borrower shall have paid the Lenders existing on the Closing Date the Closing Fee in immediately available
funds. 

  
 Appendix 3
– Page 3 

 n) Perfection Certificate. Receipt by the Administrative Agent of a perfection
certificate completed and executed by the Target in form and substance satisfactory to the Administrative Agent, the Requisite Lenders and the Requisite Tranche B Lenders. 

  
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