Document:

Exhibit
4.1

         

        EXECUTION COPY

          
            

          

        

         

         

        JOHN
DEERE OWNER TRUST 2009

      

      

      Class
A-1  1.13155% Asset Backed Notes

      

      Class
A-2  1.96% Asset Backed Notes

      

      Class
A-3  2.59% Asset Backed Notes

      

      Class
A-4  3.96% Asset Backed Notes

       

      _______________________________________

      

      

      

      

      INDENTURE

      

      

      Dated as
of June 1, 2009

      

      

      
        _______________________________________

       

      U.S. BANK
NATIONAL ASSOCIATION

      

      Indenture
Trustee

       

       

       

       

      
        
          

        

      

       

       

       

       

       

       

       

       

       

       

       

      
        

        

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

         

      

      Table
of Contents

       

      Page

       

      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      
                                        
                                          
                                            
                                              
                                                
                                                  
                                                    
                                                      
                                                        
                                                          	
                                                                  ARTICLE
      I

                                                                	 
      
	 	 
	
                                                                  DEFINITIONS
      AND INCORPORATION BY REFERENCE

                                                                	 
      
	 	 
	
                                                                  SECTION
      1.01.  Definitions

                                                                	
                                                                  2

                                                                
	
                                                                  SECTION
      1.02.  Incorporation by Reference of Trust Indenture
      Act

                                                                	
                                                                  8

                                                                
	
                                                                  SECTION
      1.03.  Rules of Construction

                                                                	
                                                                  9

                                                                
	
                                                                  SECTION
      1.04.  Calculations of Interest

                                                                	
                                                                  9

                                                                
	 
      	 
      
	
                                                                  ARTICLE
      II

                                                                	 
      
	 	 
	
                                                                  THE
      NOTES

                                                                	 
      
	 	 
	
                                                                  SECTION
      2.01.  Form

                                                                	
                                                                  10

                                                                
	
                                                                  SECTION
      2.02.  Execution, Authentication and Delivery

                                                                	
                                                                  10

                                                                
	
                                                                  SECTION
      2.03.  Temporary Notes

                                                                	
                                                                  11

                                                                
	
                                                                  SECTION
      2.04.  Registration; Registration of Transfer and
      Exchange

                                                                	
                                                                  11

                                                                
	
                                                                  SECTION
      2.05.  Mutilated, Destroyed, Lost or Stolen
Notes

                                                                	
                                                                  12

                                                                
	
                                                                  SECTION
      2.06.  Persons Deemed Owner

                                                                	
                                                                  13

                                                                
	
                                                                  SECTION
      2.07.  Payment of Principal and Interest; Defaulted
      Interest

                                                                	
                                                                  13

                                                                
	
                                                                  SECTION
      2.08.  Cancellation

                                                                	
                                                                  14

                                                                
	
                                                                  SECTION
      2.09.  Release of Collateral

                                                                	
                                                                  14

                                                                
	
                                                                  SECTION
      2.10.  Book-Entry Notes

                                                                	
                                                                  15

                                                                
	
                                                                  SECTION
      2.11.  Notices to Clearing Agency

                                                                	
                                                                  15

                                                                
	
                                                                  SECTION
      2.12.  Definitive Notes

                                                                	
                                                                  16

                                                                
	
                                                                  SECTION
      2.13.  Notes as Indebtedness for Tax Purposes

                                                                	
                                                                  16

                                                                
	 
      	 
      
	
                                                                  ARTICLE
      III

                                                                	 
      
	 	 
	
                                                                  COVENANTS

                                                                	 
      
	 	 
	
                                                                  SECTION
      3.01.  Payment of Principal and Interest

                                                                	
                                                                  16

                                                                
	
                                                                  SECTION
      3.02.  Maintenance of Office or Agency

                                                                	
                                                                  16

                                                                
	
                                                                  SECTION
      3.03.  Money for Payments To Be Held in Trust

                                                                	
                                                                  17

                                                                
	
                                                                  SECTION
      3.04.  Existence

                                                                	
                                                                  18

                                                                
	
                                                                  SECTION
      3.05.  Protection of Trust Estate

                                                                	
                                                                  18

                                                                
	
                                                                  SECTION
      3.06.  Opinions as to Trust Estate

                                                                	
                                                                  20

                                                                
	
                                                                  SECTION
      3.07.  Performance of Obligations; Servicing of
      Receivables

                                                                	
                                                                  20

                                                                
	
                                                                  SECTION
      3.08.  Negative Covenants

                                                                	
                                                                  22

                                                                
	
                                                                  SECTION
      3.09.  Annual Statement as to Compliance

                                                                	
                                                                  23

                                                                
	
                                                                  SECTION
      3.10.  Issuing Entity May Consolidate, etc., Only on Certain
      Terms

                                                                	
                                                                  23

                                                                
	
                                                                  SECTION
      3.11.  Successor or Transferee

                                                                	
                                                                  25

                                                                
	
                                                                  SECTION
      3.12.  No Other Business

                                                                	
                                                                  25

                                                                
	
                                                                  SECTION
      3.13.  No Borrowing

                                                                	
                                                                  25

                                                                

                                                           

                                                           

                                                          
                                                            
                                                              
                                                              

                                                            

                                                            
                                                              i

                                                              
                                                                

                                                              

                                                            

                                                            
                                                              
                                                              

                                                            

                                                          

                                                           

                                                        

                                                      

                                                    

                                                  

                                                

                                              

                                            

                                          

                                        

                                      

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

       

      
        	
                SECTION
      3.14.  Servicer’s Obligations

              	
                25

              
	
                SECTION
      3.15.  Guarantees, Loans, Advances and Other
      Liabilities

              	
                25

              
	
                SECTION
      3.16.  Capital Expenditures

              	
                25

              
	
                SECTION
      3.17.  Removal of Administrator

              	
                26

              
	
                SECTION
      3.18.  Restricted Payments

              	
                26

              
	
                SECTION
      3.19.  Notice of Events of Default

              	
                26

              
	
                SECTION
      3.20.  Further Instruments and Acts

              	
                26

              
	 
      	 
      
	
                ARTICLE
      IV

              	 
      
	 	 
	
                SATISFACTION
      AND DISCHARGE

              	 
      
	 	 
	
                SECTION
      4.01.  Satisfaction and Discharge of Indenture

              	
                26

              
	
                SECTION
      4.02.  Application of Trust Money

              	
                27

              
	
                SECTION
      4.03.  Repayment of Moneys Held by Paying Agent

              	
                28

              
	 
      	 
      
	 	 
	
                ARTICLE
      V

              	 
      
	 	 
	
                REMEDIES

              	 
      
	 	 
	
                SECTION
      5.01.  Events of Default

              	
                28

              
	
                SECTION
      5.02.  Acceleration of Maturity; Rescission and
      Annulment

              	
                29

              
	
                SECTION
      5.03.  Collection of Indebtedness and Suits for Enforcement by
      Indenture Trustee

              	
                30

              
	
                SECTION
      5.04.  Remedies; Priorities

              	
                32

              
	
                SECTION
      5.05.  Optional Preservation of the Receivables

              	
                33

              
	
                SECTION
      5.06.  Limitation of Suits

              	
                33

              
	
                SECTION
      5.07.  Unconditional Rights of Noteholders To Receive Principal
      and Interest

              	
                34

              
	
                SECTION
      5.08.  Restoration of Rights and Remedies

              	
                34

              
	
                SECTION
      5.09.  Rights and Remedies Cumulative

              	
                34

              
	
                SECTION
      5.10.  Delay or Omission Not a Waiver

              	
                34

              
	
                SECTION
      5.11.  Control by Noteholders

              	
                35

              
	
                SECTION
      5.12.  Waiver of Past Defaults

              	
                35

              
	
                SECTION
      5.13.  Undertaking for Costs

              	
                35

              
	
                SECTION
      5.14.  Waiver of Stay or Extension Laws

              	
                36

              
	
                SECTION
      5.15.  Action on Notes

              	
                36

              
	
                SECTION
      5.16.  Performance and Enforcement of Certain
      Obligations

              	
                36

              
	 
      	 
      
	
                ARTICLE
      VI

              	 
      
	 	 
	
                THE
      INDENTURE TRUSTEE

              	 
      
	 	 
	
                SECTION
      6.01.  Duties of Indenture Trustee

              	
                37

              
	
                SECTION
      6.02.  Rights of Indenture Trustee

              	
                39

              
	
                SECTION
      6.03.  Individual Rights of Indenture Trustee

              	
                40

              
	
                SECTION
      6.04.  Indenture Trustee’s Disclaimer

              	
                40

              
	
                SECTION
      6.05.  Notice of Defaults

              	
                40

              
	
                SECTION
      6.06.  Reports by Indenture Trustee to Holders

              	
                40

              

      

       

    

     

    
      
        
        

      

      
        ii

        
          

        

      

      
        
        

      

    

    
       

      
         

        	
                SECTION
      6.07.  Compensation and Indemnity

              	
                40

              
	
                SECTION
      6.08.  Replacement of Indenture Trustee

              	
                41

              
	
                SECTION
      6.09.  Successor Indenture Trustee by Merger

              	
                42

              
	
                SECTION
      6.10.  Appointment of Co-Trustee or Separate
    Trustee

              	
                42

              
	
                SECTION
      6.11.  Eligibility; Disqualification

              	
                44

              
	
                SECTION
      6.12.  Preferential Collection of Claims Against Issuing
      Entity

              	
                44

              
	 
      	 
      
	
                ARTICLE
      VII

              	 
      
	 	 
	
                NOTEHOLDERS’
      LISTS AND REPORTS

              	 
      
	 	 
	
                SECTION
      7.01.  Issuing Entity To Furnish Indenture Trustee Names and
      Addresses of Noteholders

              	
                44

              
	
                SECTION
      7.02.  Preservation of Information; Communications to
      Noteholders

              	
                44

              
	
                SECTION
      7.03.  Reports by Issuing Entity

              	
                44

              
	
                SECTION
      7.04.  Reports by Indenture Trustee

              	
                45

              
	 
      	 
      
	
                ARTICLE
      VIII

              	 
      
	 	 
	
                ACCOUNTS,
      DISBURSEMENTS AND RELEASES

              	 
      
	 	 
	
                SECTION
      8.01.  Collection of Money

              	
                45

              
	
                SECTION
      8.02.  Trust Accounts

              	
                46

              
	
                SECTION
      8.03.  General Provisions Regarding Accounts

              	
                46

              
	
                SECTION
      8.04.  Release of Trust Estate

              	
                47

              
	
                SECTION
      8.05.  Opinion of Counsel

              	
                48

              
	 
      	 
      
	
                ARTICLE
      IX

              	 
      
	 	 
	
                SUPPLEMENTAL
      INDENTURES

              	 
      
	 	 
	
                SECTION
      9.01.  Supplemental Indentures Without Consent of
      Noteholders

              	
                48

              
	
                SECTION
      9.02.  Supplemental Indentures with Consent of
      Noteholders

              	
                49

              
	
                SECTION
      9.03.  Execution of Supplemental Indentures

              	
                51

              
	
                SECTION
      9.04.  Effect of Supplemental Indenture

              	
                51

              
	
                SECTION
      9.05.  Conformity with Trust Indenture Act

              	
                51

              
	
                SECTION
      9.06.  Reference in Notes to Supplemental
    Indentures

              	
                51

              
	 
      	 
      
	
                ARTICLE
      X

              	 
      
	 	 
	
                REDEMPTION
      OF NOTES

              	 
      
	 	 
	
                SECTION
      10.01.  Redemption

              	
                52

              
	
                SECTION
      10.02.  Form of Redemption Notice

              	
                52

              
	
                SECTION
      10.03.  Notes Payable on Redemption Date

              	
                53

              
	 
      	 
      

         

      

       

      
        
          
          

        

        
          iii

          
            

          

        

        
          
          

        

      

       

      
         

        	
                ARTICLE
      XI

              	 
      
	 	 
	
                MISCELLANEOUS

              	 
      
	 	 
	
                SECTION
      11.01.  Compliance Certificates and Opinions,
etc

              	
                53

              
	
                SECTION
      11.02.  Form of Documents Delivered to Indenture
      Trustee

              	
                54

              
	
                SECTION
      11.03.  Acts of Noteholders

              	
                55

              
	
                SECTION
      11.04.  Notices, etc., to Indenture Trustee, Issuing Entity and
      Rating Agencies

              	
                56

              
	
                SECTION
      11.05.  Notices to Noteholders; Waiver

              	
                56

              
	
                SECTION
      11.06.  Alternate Payment and Notice Provisions

              	
                57

              
	
                SECTION
      11.07.  Conflict with Trust Indenture Act

              	
                57

              
	
                SECTION
      11.08.  Effect of Headings and Table of Contents

              	
                57

              
	
                SECTION
      11.09.  Successors and Assigns

              	
                57

              
	
                SECTION
      11.10.  Separability

              	
                57

              
	
                SECTION
      11.11.  Benefits of Indenture

              	
                58

              
	
                SECTION
      11.12.  Legal Holidays

              	
                58

              
	
                SECTION
      11.13.  GOVERNING LAW

              	
                58

              
	
                SECTION
      11.14.  Counterparts

              	
                58

              
	
                SECTION
      11.15.  Recording of Indenture

              	
                58

              
	
                SECTION
      11.16.  Trust Obligation

              	
                58

              
	
                SECTION
      11.17.  No Petition

              	
                58

              
	
                SECTION
      11.18.  Subordination Agreement

              	
                59

              
	
                SECTION
      11.19.  No Recourse

              	
                59

              
	
                SECTION
      11.20.  Inspection

              	
                59

              
	
                SECTION
      11.21.  Limitation of Liability

              	
                59

              

      

       

      EXHIBITS

      Testimonium,
Signatures and Seals Acknowledgments

       

      Exhibit
A                      Schedule
of Receivables

      Exhibit
B                      Form
of Sale and Servicing Agreement

      Exhibit
C                      Form
of Depository Agreement

      Exhibit
D                      Form
of Class A-1 Note

      Exhibit
E                      Form
of Class A-2 Note

      Exhibit
F                      Form
of Class A-3 Note

      Exhibit
G                      Form
of Class A-4 Note

       

       

      
        
          
          

        

        
          iv

          
            

          

        

        
          
          

        

      

       

      INDENTURE
dated as of June 1, 2009, between JOHN DEERE OWNER TRUST 2009, a Delaware
statutory trust (the “Issuing Entity”), and U.S. BANK NATIONAL ASSOCIATION, a
national banking association, solely as trustee and not in its individual
capacity (the “Indenture Trustee”).

       

      Each
party agrees as follows for the benefit of the other party and for the equal and
ratable benefit of the Holders of the Issuing Entity’s Class A-1 1.13155% Asset
Backed Notes (the “Class A-1 Notes”), Class A-2 1.96% Asset Backed Notes (the
“Class A-2 Notes”), Class A-3 2.59% Asset Backed Notes (the “Class A-3 Notes”)
and the Class A-4 3.96% Asset Backed Notes (the “Class A-4 Notes” and together
with the Class A-1 Notes, the Class A-2 Notes and the Class A-3 Notes, the
“Notes”):

       

      GRANTING
CLAUSE

       

      The
Issuing Entity hereby Grants to the Indenture Trustee at the Closing Date, as
trustee for the benefit of the Holders of the Notes, all of the Issuing Entity’s
right, title and interest, whether now owned or hereafter acquired, in and to
(a) the Receivables and all moneys due thereon on or after the Cut-off Date; (b)
the security interests in the Financed Equipment granted by Obligors pursuant to
the Receivables and any other interest of the Issuing Entity in the Financed
Equipment; (c) any proceeds with respect to the Receivables from claims on any
physical damage, credit life or disability insurance policies covering Financed
Equipment or Obligors; (d) the Purchase Agreement, including the right assigned
to the Issuing Entity to cause JDCC to repurchase Receivables from the Seller
under certain circumstances; (e) all funds on deposit from time to time in the
Trust Accounts, including the Reserve Account Initial Deposit, and in all
investments and proceeds thereof (including all income thereon); (f) the Sale
and Servicing Agreement (including all rights of the Seller under the Purchase
Agreement assigned to the Issuing Entity pursuant to the Sale and Servicing
Agreement); and (g) all present and future claims, demands, causes and choses in
action in respect of any or all of the foregoing and all payments on or under
and all proceeds of every kind and nature whatsoever in respect of any or all of
the foregoing, including all proceeds of the conversion, voluntary or
involuntary, into cash or other liquid property, all cash proceeds, accounts,
accounts receivable, notes, drafts, acceptances, chattel paper, checks, deposit
accounts, insurance proceeds, condemnation awards, rights to payment of any and
every kind and other forms of obligations and receivables, instruments and other
property which at any time constitute all or part of or are included in the
proceeds of any of the foregoing (collectively, the
“Collateral”).  This Indenture shall constitute a security agreement
for purposes of the Uniform Commercial Code as in effect in the States of New
York and Delaware on the date hereof.

       

      The
foregoing Grant is made in trust to secure the payment of principal of and
interest on, and any other amounts owing in respect of, the Notes, equally and
ratably without prejudice, priority or distinction and to secure compliance with
the provisions of this Indenture, all as provided in this
Indenture.

       

      The
Indenture Trustee, as Indenture Trustee on behalf of the Holders of the Notes,
acknowledges such Grant, and accepts the trusts under this Indenture in
accordance with the provisions of this Indenture for the use and benefit of such
Holders.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      ARTICLE
I

       

      DEFINITIONS
AND INCORPORATION BY REFERENCE

       

      SECTION
1.01.  Definitions.  (a)  Except
as otherwise specified herein or as the context may otherwise require, the
following terms have the respective meanings set forth below for all purposes of
this Indenture.

       

      “Act” has the meaning
specified in Section 11.03(a).

       

      “Administration
Agreement” means the Administration Agreement dated as of June 1, 2009,
among the Administrator, the Issuing Entity and the Indenture Trustee as amended
or supplemented from time to time.

       

      “Administrator” means
the administrator under the Administration Agreement.

       

      “Affiliate” means,
with respect to any specified Person, any other Person controlling or controlled
by or under common control with such specified Person.  For the
purposes of this definition, “control” when used with respect to any specified
Person means the power to direct the management and policies of such Person,
directly or indirectly, whether through the ownership of voting securities, by
contract or otherwise; and the terms “controlling” and “controlled” have
meanings correlative to the foregoing.

       

      “Authorized Officer”
means, with respect to the Issuing Entity, any officer of the Owner Trustee who
is authorized to act for the Owner Trustee in matters relating to the Issuing
Entity and who is identified on the list of Authorized Officers, containing the
specimen signature of each such Person, delivered by the Owner Trustee to the
Indenture Trustee on the Closing Date (as such list may be modified or
supplemented from time to time thereafter) and, so long as the Administration
Agreement is in effect, any Assistant Treasurer, any Vice President or more
senior officer of the Administrator who is authorized to act for the
Administrator in matters relating to the Issuing Entity and to be acted upon by
the Administrator pursuant to the Administration Agreement and who is identified
on the list of Authorized Officers (containing the specimen signatures of such
officers) delivered by the Administrator to the Indenture Trustee on the Closing
Date (as such list may be modified or supplemented from time to time
thereafter); provided, however, that for purposes of Section 3.09 and Section
1(a)(J) of the Administration Agreement such officer of the Administrator must
be any of the president, controller, chief executive officer, chief financial
officer or chief accounting officer.

       

      “Bankruptcy Code”
means the United States Bankruptcy Code, Title 11 of the United States Code, as
amended.

       

      “Basic Documents”
means this Indenture, the Certificate of Trust, the Trust Agreement, the
Purchase Agreement, the Sale and Servicing Agreement, the Administration
Agreement, the Depository Agreement and other documents and certificates
delivered in connection therewith.

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

       

      “Book Entry Notes”
means a beneficial interest in the Notes, ownership and transfers of which shall
be made through book entries by a Clearing Agency as described in Section
2.10.

       

      “Business Day” means
any day other than a Saturday, a Sunday or a day on which banking institutions
or trust companies in The City of New York, Chicago, Illinois or St. Paul,
Minnesota are authorized or obligated by law, regulation or executive order to
remain closed.

       

      “Certificate” has the
meaning assigned to it in the Trust Agreement.

       

      “Certificate of Trust”
means the certificate of trust of the Issuing Entity substantially in the form
of Exhibit A to the Trust Agreement.

       

      “Class A-1 Note” means
a Class A-1 1.13155% Asset-Backed Note, substantially in the form of Exhibit
D.

       

      “Class A-1 Note Interest
Rate” means 1.13155% per annum.

       

      “Class A-2 Note” means
a Class A-2 1.96% Asset Backed Note, substantially in the form of Exhibit
E.

       

      “Class A-2 Note Interest
Rate” means 1.96% per annum.

       

      “Class A-3 Note” means
a Class A-3 2.59% Asset Backed Note, substantially in the form of Exhibit
F.

       

      “Class A-3 Note Interest
Rate” means 2.59% per annum.

       

      “Class A-4 Note” means
a Class A-4 3.96% Asset Backed Note, substantially in the form of Exhibit
G.

       

      “Class A-4 Note Interest
Rate” means 3.96% per annum.

       

      “Clearing Agency”
means an organization registered as a “clearing agency” pursuant to Section 17A
of the Exchange Act.

       

      “Clearing Agency
Participant” means a broker, dealer, bank, other financial institution or
other Person for whom from time to time a Clearing Agency effects book-entry
transfers and pledges of securities deposited with the Clearing
Agency.

       

      “Closing Date” means
June 9, 2009.

       

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

       

      “Collateral” has the
meaning specified in the Granting Clause of this Indenture.

       

      “Corporate Trust
Office” means the office of the Indenture Trustee at which at any
particular time its corporate trust business shall be administered which office
at the date of 

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

       

      the
execution of this Indenture is located at 209 South LaSalle Street, Suite 300,
Chicago, Illinois 60604, Attention:  John Deere Owner Trust 2009,
facsimile No.: 312-325-8905, or at such other address as the Indenture Trustee
may designate from time to time by notice to the Noteholders and the Issuing
Entity, or the corporate trust office of any successor Indenture Trustee (the
address of which the successor Indenture Trustee will notify the Noteholders and
the Issuing Entity).

       

      “Default” means any
occurrence that is, or with notice or the lapse of time or both would become, an
Event of Default.

       

      “Definitive Notes” has
the meaning specified in Section 2.10.

       

      “Depository Agreement”
means the agreement among the Issuing Entity and The Depository Trust Company,
as the initial Clearing Agency, dated the Closing Date, substantially in the
form of Exhibit C, as amended or supplemented from time to time.

       

      “ERISA” shall mean the
Employee Retirement Income Security Act of 1974, as amended.

       

      “Event of Default” has
the meaning specified in Section 5.01.

       

      “Exchange Act” means
the Securities Exchange Act of 1934, as amended.

       

      “Executive Officer”
means, with respect to any (i) corporation, the Chief Executive Officer,
Chief Operating Officer, Chief Financial Officer, President, Executive Vice
President, any Vice President, the Secretary or the Treasurer of such
corporation; and (ii) partnership, any general partner
thereof.

       

      “Grant” means
mortgage, pledge, bargain, sell, warrant, alienate, remise, release, convey,
assign, transfer, create, and grant a lien upon and a security interest in and
right of set-off against, deposit, set over and confirm pursuant to this
Indenture.  A Grant of the Collateral or of any other agreement or
instrument shall include all rights, powers and options (but none of the
obligations) of the Granting party thereunder, including the immediate and
continuing right to claim for, collect, receive and give receipt for principal
and interest payments in respect of the Collateral and all other moneys payable
thereunder, to give and receive notices and other communications, to make
waivers or other agreements, to exercise all rights and options, to bring
Proceedings in the name of the Granting party or otherwise and generally to do
and receive anything that the Granting party is or may be entitled to do or
receive thereunder or with respect thereto.

       

      “Holder” or
“Noteholder” means the Person in whose name a Class A-1 Note, a Class A-2
Note, a Class A-3 Note or a Class A-4 Note is registered on the Note
Register.

       

      “Indenture” means this
Indenture as amended or supplemented from time to time.

       

      “Indenture Trustee”
means U.S. Bank National Association, a national banking association, as
Indenture Trustee under this Indenture, or any successor Indenture Trustee under
this Indenture.

       

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

       

      “Independent” means,
when used with respect to any specified Person, that the Person (a) is in fact
independent of the Issuing Entity, any other obligor upon the Notes, the Seller
and any Affiliate of any of the foregoing Persons, (b) does not have any direct
financial interest or any material indirect financial interest in the Issuing
Entity, any such other obligor, the Seller or any Affiliate of any of the
foregoing Persons and (c) is not connected with the Issuing Entity, any such
other obligor, the Seller or any Affiliate of any of the foregoing Persons as an
officer, employee, promoter, underwriter, trustee, partner, director or person
performing similar functions.

       

      “Independent
Certificate” means a certificate or opinion to be delivered to the
Indenture Trustee under the circumstances described in, and otherwise complying
with, the applicable requirements of Section 11.01, made by an Independent
appraiser, firm of certified public accountants or other expert appointed by an
Issuing Entity Order and acceptable to the Indenture Trustee, and such opinion
or certificate shall state that the signer has read the definition of
“Independent” in this Indenture and that the signer is Independent within the
meaning thereof.

       

      “Issuing Entity” means
John Deere Owner Trust 2009 until a successor replaces it and, thereafter, means
the successor and, for purposes of any provision contained herein and required
by the TIA, each other obligor on the Notes.

       

      “Issuing Entity Order”
and “Issuing Entity
Request” means a written order or request signed in the name of the
Issuing Entity by any one of its Authorized Officers and delivered to the
Indenture Trustee.

       

      “JDCC” means John
Deere Capital Corporation, a Delaware corporation, and its
successors.

       

      “Note Interest Rate”
means the per annum interest rate borne by a Note.

       

      “Note Owner” means,
with respect to a Book-Entry Note, the Person who is the owner of such
Book-Entry Note, as reflected on the books of the Clearing Agency, or on the
books of a Person maintaining an account with such Clearing Agency (directly as
a Clearing Agency Participant or as an indirect participant, in each case in
accordance with the rules of such Clearing Agency).

       

      “Note Register” and
“Note
Registrar” have the respective meanings specified in Section
2.04.

       

      “Notes” means the
Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes and the Class A-4
Notes.

       

      “Officer’s
Certificate” means a certificate signed by any Authorized Officer of the
Issuing Entity, under the circumstances described in, and otherwise complying
with, the applicable requirements of Section 11.01, and delivered to the
Indenture Trustee.  Unless otherwise specified, any reference in this
Indenture to an Officer’s Certificate shall be to an Officer’s Certificate of
any Authorized Officer of the Issuing Entity.

       

      
        
          
          

        

        
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      “Opinion of Counsel”
means one or more written opinions of counsel who may, except as otherwise
expressly provided in this Indenture, be employees of or counsel to the Issuing
Entity and which opinion or opinions shall be addressed to the Indenture Trustee
as Indenture Trustee, and shall comply with any applicable requirements of
Section 11.01.

       

      “Outstanding” means,
as of the date of determination, all Notes theretofore authenticated and
delivered under this Indenture except:

       

      (i)           Notes
theretofore cancelled by the Note Registrar or delivered to the Note Registrar
for cancellation;

       

      (ii)          Notes
or portions thereof the payment for which money in the necessary amount has been
theretofore deposited with the Indenture Trustee or any Paying Agent in trust
for the Holders of such Notes (provided, however, that if such Notes are to be
redeemed, notice of such redemption has been duly given pursuant to this
Indenture or provision therefor, satisfactory to the Indenture Trustee);
and

       

      (iii)         Notes
in exchange for or in lieu of other Notes which have been authenticated and
delivered pursuant to this Indenture unless proof satisfactory to the Indenture
Trustee is presented that any such Notes are held by a bona fide
purchaser;

       

      provided that in
determining whether the Holders of the requisite Outstanding Amount of the Notes
have given any request, demand, authorization, direction, notice, consent or
waiver hereunder or under any Basic Document, Notes owned by the Issuing Entity,
any other obligor upon the Notes, the Seller or any Affiliate of any of the
foregoing Persons shall be disregarded and deemed not to be Outstanding, except
that, in determining whether the Indenture Trustee shall be protected in relying
upon any such request, demand, authorization, direction, notice, consent or
waiver, only Notes that a Responsible Officer of the Indenture Trustee actually
knows to be so owned shall be so disregarded.  Notes so owned that
have been pledged in good faith may be regarded as Outstanding if the pledgee
establishes to the satisfaction of the Indenture Trustee the pledgee’s right so
to act with respect to such Notes and that the pledgee is not the Issuing
Entity, any other obligor upon the Notes, the Seller or any Affiliate of any of
the foregoing Persons.

       

      “Outstanding Amount”
means the aggregate principal amount of all Notes, or a Class of Notes, as
applicable, Outstanding at the date of determination.

       

      “Owner Trustee” means
BNY Mellon Trust of Delaware not in its individual capacity but solely as Owner
Trustee under the Trust Agreement, or any successor Owner Trustee under the
Trust Agreement.

       

      “Paying Agent” means
the Indenture Trustee, U.S. Bank National Association or any Person that meets
the eligibility standards for the Indenture Trustee specified in Section 6.11
and is authorized by the Issuing Entity to make the payments to and
distributions from the Collection Account and the Note Distribution Account,
including payment of principal of or interest on the Notes on behalf of the
Issuing Entity.

       

      
        
          
          

        

        
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      “Payment Date” means
the 15th day of each month, or, if any such date is not a Business Day, the next
succeeding Business Day, commencing July 15, 2009; provided, however, that if any
Class A-1 Notes are outstanding after the Payment Date in June 2010, Payment
Date shall also mean, solely in the context of determining the date for final
payment of the Class A-1 Notes and the interest accrual period for the Class A-1
Notes from the Payment Date in June 2010 to but excluding such final payment,
the Special Payment Date.

       

      “Person” means any
individual, corporation, limited liability company, estate, partnership, joint
venture, association, joint stock company, trust (including any beneficiary
thereof), unincorporated organization or government or any agency or political
subdivision thereof.

       

      “Predecessor Note”
means, with respect to any particular Note, every previous Note evidencing all
or a portion of the same debt as that evidenced by such particular Note; and,
for the purpose of this definition, any Note authenticated and delivered under
Section 2.05 in lieu of a mutilated, lost, destroyed or stolen Note shall be
deemed to evidence the same debt as the mutilated, lost, destroyed or stolen
Note.

       

      “Proceeding” means any
suit in equity, action at law or other judicial or administrative
proceeding.

       

      “Protected Purchaser”
has the meaning specified in Article Eight of the UCC.

       

      “Rating Agency” means
Moody’s and Standard & Poor’s.  If no such organization or
successor is any longer in existence, “Rating Agency” shall be a nationally
recognized statistical rating organization or other comparable Person designated
by the Issuing Entity, notice of which designation shall be given to the
Indenture Trustee, the Owner Trustee and the Servicer.

       

      “Rating Agency
Condition” means, with respect to any action, that each Rating Agency
shall have been given 10 days’ prior notice thereof and that each of the Rating
Agencies shall have notified the Seller, the Servicer and the Issuing Entity in
writing that such action will not result in a reduction or withdrawal of the
then current ratings of the Notes.

       

      “Record Date” means,
with respect to a Payment Date or Redemption Date, the close of business on the
day immediately preceding such Payment Date or Redemption Date, unless
Definitive Notes are issued, in which case the Record Date with respect to such
Definitive Notes as to any Payment Date shall be the last day of the immediately
preceding calendar month.

       

      “Redemption Date”
means the Payment Date specified by the Servicer or the Issuing Entity pursuant
to Section 10.01(a) or (b), as applicable.

       

      “Redemption Price”
means in the case of (a) a redemption of the Notes pursuant to Section 10.01(a),
an amount equal to the Outstanding Amount of the Notes redeemed plus accrued and
unpaid interest on the Notes at the related Note Interest Rate to but excluding
the Redemption Date, or (b) a payment made to Noteholders pursuant to Section
10.01(b), the amount on deposit in the Note Distribution Account, but not in
excess of the amount specified in clause (a) above.

       

      
        
          
          

        

        
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      “Registered Holder”
means the Person in whose name a Note is registered on the Note Register on the
applicable Record Date.

       

      “Responsible Officer”
means, with respect to the Indenture Trustee, any officer within the Corporate
Trust Office of the Indenture Trustee who shall have direct responsibility for
the administration of this Indenture, including any Vice President, Assistant
Vice President, or any other officer of the Indenture Trustee customarily
performing functions similar to those performed by any of the above designated
officers and also, with respect to a particular matter, any other officer to
whom such matter is referred because of such officer’s knowledge of and
familiarity with the particular subject.

       

      “Sale and Servicing
Agreement” means the Sale and Servicing Agreement dated as of June 1,
2009 among the Issuing Entity, the Seller and the Servicer, in the form of
Exhibit B, as amended or supplemented from time to time.

       

      “Schedule of
Receivables” means the listing of the Receivables set forth in Exhibit A
(which Exhibit may be in the form of microfiche).

       

      “Special Payment Date”
means July 2, 2010 with respect to the Class A-1 Notes only if any of the Class
A-1 Notes are outstanding after the Payment Date in June 2010.

       

      “State” means any one
of the 50 states of the United States of America or the District of
Columbia.

       

      “Successor Servicer”
has the meaning specified in Section 3.07(e).

       

      “Trust Accounts” mean
the Collection Account, the Note Distribution Account and the Reserve Account
established pursuant to Section 5.01 of the Sale and Servicing
Agreement.

       

      “Trust Estate” means
all money, instruments, rights and other property that are subject or intended
to be subject to the lien and security interest of this Indenture for the
benefit of the Noteholders (including, without limitation, all property and
interests Granted to the Indenture Trustee), including all proceeds
thereof.

       

      “Trust Indenture Act”
or “TIA” means the Trust Indenture Act of 1939 as in force on the date hereof,
unless otherwise specifically provided.

       

      “UCC” means, unless
the context otherwise requires, the Uniform Commercial Code, as in effect in the
relevant jurisdiction, as amended from time to time.

       

      (b)           Except
as otherwise specified herein or as the context may otherwise require,
capitalized terms used but not otherwise defined herein shall have the
respective meanings set forth in the Sale and Servicing Agreement.

       

      SECTION
1.02.  Incorporation by Reference
of Trust Indenture Act.  Whenever this Indenture refers to a
provision of the TIA, the provision is incorporated by reference in and

       

      
        
          
          

        

        
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      made a
part of this Indenture.  The following TIA terms used in this
Indenture have the following meanings:

       

      “Commission”
means the Securities and Exchange Commission.

       

      “indenture
securities” means the Notes.

       

      “indenture
security holder” means a Noteholder.

       

      “indenture
to be qualified” means this Indenture.

       

      “indenture
trustee” or “institutional trustee” means the Indenture Trustee.

       

      “obligor”
on the indenture securities means the Issuing Entity and any other obligor on
the indenture securities.

       

      All other
TIA terms used in this Indenture that are defined by the TIA, defined by TIA
reference to another statute or defined by Commission rule have the meaning
assigned to them by such definitions.

       

      SECTION
1.03.  Rules
of Construction.  Unless the context otherwise
requires:

       

      (i)           a
term has the meaning assigned to it;

       

      (ii)          an
accounting term not otherwise defined has the meaning assigned to it in
accordance with generally accepted accounting principles in the United States as
in effect from time to time;

       

      (iii)         “or”
is not exclusive;

       

      (iv)         “including”
means “including without limitation”; and

       

      (v)          words
in the singular include the plural and words in the plural include the
singular.

       

      SECTION
1.04.  Calculations of
Interest.  All calculations of interest in respect of the Class
A-1 Notes made hereunder shall be computed on the basis of the actual number of
days in the related period of accrual divided by 360.  Interest in
respect of the Class A-1 Notes shall accrue from and including the Closing Date
or from and including the most recent Payment Date to which interest has been
paid to but excluding the current Payment Date.  For the avoidance of
doubt, if any Class A-1 Notes are outstanding after the Payment Date in June
2010, interest on the Class A-1 Notes will accrue from and including the Payment
Date in June 2010 to but excluding the Special Payment Date. All calculations of
interest in respect of the Class A-2 Notes, the Class A-3 Notes and the Class
A-4 Notes made hereunder shall be made on the basis of a 360-day year consisting
of twelve 30-day months.  Interest on the Class A-2 Notes, the Class
A-3 Notes and the Class A-4 Notes in respect of a Payment Date will accrue from
and including the 15th day of the month preceding such Payment Date (or the
Closing Date in the case of the first Payment Date) to and including the 14th
day of the month of such Payment Date.

       

      
        
          
          

        

        
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      ARTICLE
II

       

      THE
NOTES

       

      SECTION
2.01.  Form.  The
Class A-1, Class A-2, Class A-3 and Class A-4 Notes, in each case together with
the Indenture Trustee’s certificate of authentication, shall be in substantially
the forms set forth in Exhibits D, E, F and G, respectively, with such
appropriate insertions, omissions, substitutions and other variations as are
required or permitted by this Indenture and may have such letters, numbers or
other marks of identification and such legends or endorsements placed thereon as
may, consistently herewith, be determined by the officers executing such Notes,
as evidenced by their execution of the Notes.  Any portion of the text
of any Note may be set forth on the reverse thereof, with an appropriate
reference thereto on the face of the Note.

       

      The
Definitive Notes shall be typewritten, printed, lithographed or engraved or
produced by any combination of these methods (with or without steel engraved
borders), all as determined by the officers executing such Notes, as evidenced
by their execution of such Notes.

       

      Each Note
shall be dated the date of its authentication.  The terms of the Notes
set forth in Exhibits D, E, F and G are part of the terms of this
Indenture.

       

      SECTION
2.02.  Execution, Authentication
and Delivery.  The Notes shall be executed on behalf of the
Issuing Entity by any of its Authorized Officers.  The signature of
any such Authorized Officer on the Notes may be manual or
facsimile.

       

      Notes
bearing the manual or facsimile signature of individuals who were at any time
Authorized Officers of the Issuing Entity shall bind the Issuing Entity,
notwithstanding that such individuals or any of them have ceased to hold such
offices prior to the authentication and delivery of such Notes or did not hold
such offices at the date of such Notes.

       

      The
Indenture Trustee shall upon Issuing Entity Order authenticate and deliver Class
A-1 Notes for original issue in an aggregate principal amount of $233,600,000,
Class A-2 Notes for original issue in an aggregate principal amount of
$50,000,000, Class A-3 Notes for original issue in an aggregate principal amount
of $309,000,000 and Class A-4 Notes for original issue in an aggregate principal
amount of $81,710,000.  The aggregate principal amount of Class A-1,
Class A-2, Class A-3 and Class A-4 Notes outstanding at any time may not exceed
such amounts, respectively, except as provided in Section 2.05.

       

      Each Note
shall be dated the date of its authentication.  The Notes shall be
issuable as registered Notes in the minimum denomination of $1,000 and in
integral multiples thereof.

       

      No Note
shall be entitled to any benefit under this Indenture or be valid or obligatory
for any purpose, unless there appears on such Note a certificate of
authentication substantially in the form provided for herein executed by the
Indenture Trustee by the manual signature of one of its authorized signatories,
and such certificate upon any Note shall be conclusive evidence, and the only
evidence, that such Note has been duly authenticated and delivered
hereunder.

       

      
        
          
          

        

        
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      SECTION
2.03.  Temporary
Notes.  Pending the preparation of definitive Notes, the
Issuing Entity may execute, and upon receipt of an Issuing Entity Order the
Indenture Trustee shall authenticate and deliver, temporary Notes which are
printed, lithographed, typewritten, mimeographed or otherwise produced, of the
tenor of the definitive Notes in lieu of which they are issued and with such
variations not inconsistent with the terms of this Indenture as the officers
executing such Notes may determine, as evidenced by their execution of such
Notes.

       

      If
temporary Notes are issued, the Issuing Entity will cause definitive Notes to be
prepared without unreasonable delay.  After the preparation of
definitive Notes, the temporary Notes shall be exchangeable for definitive Notes
upon surrender of the temporary Notes at the office or agency of the Issuing
Entity to be maintained as provided in Section 3.02, without charge to the
Holder.  Upon surrender for cancellation of any one or more temporary
Notes, the Issuing Entity shall execute and the Indenture Trustee shall
authenticate and deliver in exchange therefor a like principal amount of
definitive Notes of authorized denominations.  Until so exchanged, the
temporary Notes shall in all respects be entitled to the same benefits under
this Indenture as definitive Notes.

       

      SECTION
2.04.  Registration; Registration
of Transfer and Exchange.  The Issuing Entity shall cause to be
kept a register (the “Note Register”) in which, subject to such reasonable
regulations as it may prescribe, the Issuing Entity shall provide for the
registration of Notes and the registration of transfers of Notes.  The
Indenture Trustee shall be “Note Registrar” for the purpose of registering Notes
and transfers of Notes as herein provided.  Upon any resignation of
any Note Registrar, the Issuing Entity shall promptly appoint a successor or, if
it elects not to make such an appointment, assume the duties of Note
Registrar.

       

      If a
Person other than the Indenture Trustee is appointed by the Issuing Entity as
Note Registrar, the Issuing Entity will give the Indenture Trustee prompt
written notice of the appointment of such Note Registrar and of the location,
and any change in the location, of the Note Register, and the Indenture Trustee
shall have the right to inspect the Note Register at all reasonable times and to
obtain copies thereof, and the Indenture Trustee shall have the right to rely
upon a certificate executed on behalf of the Note Registrar by an Executive
Officer thereof as to the names and addresses of the Holders of the Notes and
the principal amounts and number of such Notes.

       

      Upon
surrender for registration of transfer of any Note at the office or agency of
the Issuing Entity to be maintained as provided in Section 3.02, if the
requirements of Section 8-401(a) of the UCC are met, the Issuing Entity shall
execute, and the Indenture Trustee shall authenticate and the Noteholder shall
obtain from the Indenture Trustee, in the name of the designated transferee or
transferees, one or more new Notes of the same Class in any authorized
denominations, of a like aggregate principal amount.

       

      At the
option of the Holder, Notes may be exchanged for other Notes of the same Class
in any authorized denominations, of a like aggregate principal amount, upon
surrender of the Notes to be exchanged at such office or
agency.  Whenever any Notes are so surrendered for exchange, if the
requirements of Section 8-401(a) of the UCC are met the Issuing Entity shall
execute, and the Indenture Trustee authenticate and the Noteholder shall obtain
from the Indenture Trustee, the Notes which the Noteholder making the exchange
is entitled to receive.

       

      
        
          
          

        

        
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      All Notes
issued upon any registration of transfer or exchange of Notes shall be the valid
obligations of the Issuing Entity, evidencing the same debt, and entitled to the
same benefits under this Indenture, as the Notes surrendered upon such
registration of transfer or exchange.

       

      Every
Note presented or surrendered for registration of transfer or exchange shall be
duly endorsed by, or be accompanied by a written instrument of transfer in the
form attached to the form of the applicable Note duly executed by the Holder
thereof or such Holder’s attorney duly authorized in writing, with such
signature guaranteed by an “eligible guarantor institution” meeting the
requirements of the Indenture Trustee which requirements will include membership
or participation in STAMP or such other “signature guarantee program” as may be
determined by the Indenture Trustee in addition to, or in substitution for,
STAMP, all in accordance with the Exchange Act, and such other documents as the
Indenture Trustee may require.

       

      No
service charge shall be made to a Holder for any registration of transfer or
exchange of Notes, but the Issuing Entity may require payment of a sum
sufficient to cover any tax or other governmental charge that may be imposed in
connection with any registration of transfer or exchange of Notes, other than
exchanges pursuant to Section 2.03 or 9.06 not involving any
transfer.

       

      Each
Noteholder, by its acceptance of a Note (and each Note Owner, by its acceptance
of a beneficial interest in a Note) will be deemed to have represented that (x)
it is not, and is not acquiring the Note on behalf of, or with “plan assets” (as
determined under Section 3(42) of ERISA) of, an “employee benefit plan” (as
defined in Section 3(3) of ERISA) that is subject to Title I of ERISA, or a
“plan” (as defined in Section 4975 of the Code) that is subject to Section 4975
of the Code, or any employee benefit plan subject to a federal, state, local or
non-U.S. law similar to Title I of ERISA or Section 4975 of the Code, or (y) its
acquisition and holding of the Note do not give rise to a transaction prohibited
under Section 406 of ERISA or Section 4975 of the Code or under any applicable
similar law for which an exemption, all of the conditions of which are
satisfied, is not available.

       

      SECTION
2.05.  Mutilated, Destroyed, Lost
or Stolen Notes.  If (i) any mutilated Note is surrendered to
the Indenture Trustee, or the Indenture Trustee receives evidence to its
satisfaction of the destruction, loss or theft of any Note, and (ii) there is
delivered to the Indenture Trustee such security or indemnity as may be required
by it to hold the Issuing Entity and the Indenture Trustee harmless, then, in
the absence of notice to the Issuing Entity, the Note Registrar or the Indenture
Trustee that such Note has been acquired by a Protected Purchaser, and provided
that the requirements of Section 8-405 of the UCC are met, the Issuing Entity
shall execute and upon its request the Indenture Trustee shall authenticate and
deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or
stolen Note, a replacement Note of the same Class; provided, however, that if
any such destroyed, lost or stolen Note, but not a mutilated Note, shall have
become or within seven days shall be due and payable, or shall have been called
for redemption, instead of issuing a replacement Note, the Issuing Entity may
pay such destroyed, lost or stolen Note when so due or payable or upon the
Redemption Date without surrender thereof.  If, after the delivery of
such replacement Note or payment of a destroyed, lost or stolen Note pursuant to
the proviso to the preceding sentence, a Protected Purchaser of the original
Note in lieu of which such replacement Note was issued presents for payment such

       

      
        
          
          

        

        
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      original
Note, the Issuing Entity and the Indenture Trustee shall be entitled to recover
such replacement Note (or such payment) from the Person to whom it was delivered
or any Person taking such replacement Note from such Person to whom such
replacement Note was delivered or any assignee of such Person, except a
Protected Purchaser, and shall be entitled to recover upon the security or
indemnity provided therefor to the extent of any loss, damage, cost or expense
incurred by the Issuing Entity or the Indenture Trustee in connection
therewith.

       

      Upon the
issuance of any replacement Note under this Section, the Issuing Entity may
require the payment by the Holder of such Note of a sum sufficient to cover any
tax or other governmental charge that may be imposed in relation thereto and any
other reasonable expenses (including the fees and expenses of the Indenture
Trustee) connected therewith.

       

      Every
replacement Note issued pursuant to this Section in replacement of any
mutilated, destroyed, lost or stolen Note shall constitute an original
additional contractual obligation of the Issuing Entity, whether or not the
mutilated, destroyed, lost or stolen Note shall be at any time enforceable by
anyone, and shall be entitled to all the benefits of this Indenture equally and
proportionately with any and all other Notes duly issued hereunder.

       

      The
provisions of this Section are exclusive and shall preclude (to the extent
lawful) all other rights and remedies with respect to the replacement or payment
of mutilated, destroyed, lost or stolen Notes.

       

      SECTION
2.06.  Persons Deemed
Owner.  Prior to due presentment for registration of transfer
of any Note, the Issuing Entity, the Indenture Trustee and any agent of the
Issuing Entity or the Indenture Trustee shall treat the Person in whose name any
Note is registered (as of the day of determination) as the owner of such Note
for the purpose of receiving payments of principal of and interest, if any, on
such Note and for all other purposes whatsoever, whether or not such Note be
overdue, and neither the Issuing Entity, the Indenture Trustee nor any agent of
the Issuing Entity or the Indenture Trustee shall be affected by notice to the
contrary.

       

      SECTION
2.07.  Payment of Principal and
Interest; Defaulted Interest.  (a)  The Notes shall
accrue interest as provided in the forms of the Class A-1 Note, Class A-2 Note,
Class A-3 Note and Class A-4 Note set forth in Exhibits D, E, F and G,
respectively, and such interest shall be payable on each Payment Date as
specified therein.  Any installment of interest or principal, if any,
payable on any Note which is punctually paid or duly provided for by the Issuing
Entity on the applicable Payment Date shall be paid to the Person in whose name
such Note (or one or more Predecessor Notes) is registered on the Record Date,
by check mailed first-class, postage prepaid to such Person’s address as it
appears on the Note Register on such Record Date, except that, unless Definitive
Notes have been issued pursuant to Section 2.12, with respect to Notes
registered on the Record Date in the name of the nominee of the Clearing Agency
(initially, such nominee to be Cede & Co.), payment will be made by wire
transfer in immediately available funds to the account designated by such
nominee and except for the final installment of principal payable with respect
to such Note on a Payment Date (and except for the Redemption Price for any Note
called for redemption pursuant to Section 10.01(a)) which shall be payable as
provided below.  The funds represented by any such checks returned
undelivered shall be held in accordance with Section 3.03.

       

      
        
          
          

        

        
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      (b)           The
principal of each Note shall be payable in installments on each Payment Date as
provided in the forms of the Class A-1 Note, Class A-2 Note, Class A-3 Note and
Class A-4 Note set forth in Exhibits D, E, F and G,
respectively.  Notwithstanding the foregoing, the entire unpaid
principal amount of the Notes shall be due and payable, if not previously paid,
on the date on which an Event of Default shall have occurred and be continuing,
if the Indenture Trustee or the Holders of the Notes representing not less than
a majority of the Outstanding Amount of the Notes have declared the Notes to be
immediately due and payable in the manner provided in Section
5.02.  All  principal payments on each Class of Notes shall
be made pro rata to the Noteholders of such Class entitled
thereto.  Upon notice to the Indenture Trustee by the Issuing Entity,
the Indenture Trustee shall notify the Person in whose name a Note is registered
at the close of business on the Record Date preceding the Payment Date on which
the Issuing Entity expects that the final installment of principal of and
interest on such Note will be paid.  Such notice shall be mailed no
later than five Business Days prior to such final Payment Date and shall specify
that such final installment will be payable only upon presentation and surrender
of such Note and shall specify the place where such Note may be presented and
surrendered for payment of such installment.  Notices in connection
with redemptions of Notes shall be mailed to Noteholders as provided in Section
10.02.

       

      (c)           If
the Issuing Entity defaults in a payment of interest on the Notes, the Issuing
Entity shall pay defaulted interest (plus interest on such defaulted interest at
a rate per annum equal to the sum of (i) the applicable Note Interest Rate and
(ii) 1.0%, to the extent lawful) in any lawful manner.  The Issuing
Entity may pay such defaulted interest and interest on such defaulted interest
to the persons who are Noteholders on a subsequent special record date, which
date shall be at least five Business Days prior to the payment
date.  The Issuing Entity shall fix or cause to be fixed any such
special record date and payment date, and, at least 10 days before any such
special record date, the Issuing Entity shall mail to each Noteholder a notice
that states the special record date, the payment date and the amount of
defaulted interest and interest on such defaulted interest to be
paid.

       

      SECTION
2.08.  Cancellation.  All
Notes surrendered for payment, registration of transfer, exchange or redemption
shall, if surrendered to any Person other than the Indenture Trustee, be
delivered to the Indenture Trustee and shall be promptly cancelled by the
Indenture Trustee.  The Issuing Entity may at any time deliver to the
Indenture Trustee for cancellation any Notes previously authenticated and
delivered hereunder which the Issuing Entity may have acquired in any manner
whatsoever, and all Notes so delivered shall be promptly cancelled by the
Indenture Trustee.  No Notes shall be authenticated in lieu of or in
exchange for any Notes cancelled as provided in this Section, except as
expressly permitted by this Indenture. All cancelled Notes may be held or
disposed of by the Indenture Trustee in accordance with its standard retention
or disposal policy as in effect at the time unless the Issuing Entity shall
direct by an Issuing Entity Order that they be returned to it; provided that the
Notes have not been previously disposed of by the Indenture
Trustee.

       

      SECTION
2.09.  Release of
Collateral.  Subject to Section 11.01, the Indenture Trustee
shall release property from the lien of this Indenture only upon receipt of an
Issuing Entity Request accompanied by an Officer’s Certificate, an Opinion of
Counsel and Independent Certificates in accordance with TIA §§ 314(c) and
314(d)(l) or an Opinion of Counsel in lieu of 

       

      
        
          
          

        

        
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      such
Independent Certificates to the effect that the TIA does not require any such
Independent Certificates.

       

      SECTION
2.10.  Book-Entry
Notes.  The Notes, upon original issuance, will be issued in
the form of a typewritten Note or Notes representing the Book-Entry Notes, to be
delivered to The Depository Trust Company, the initial Clearing Agency, by, or
on behalf of, the Issuing Entity.  Such Note shall initially be
registered on the Note Register in the name of Cede & Co., the nominee of
the initial Clearing Agency, and no Note Owner will receive a Definitive Note
(as hereinafter defined) representing such Note Owner’s interest in such Note,
except as provided in Section 2.12.  Unless and until definitive,
fully registered Notes (the “Definitive Notes”) have been issued to Note Owners
pursuant to Section 2.12:

       

      (i)           the
provisions of this Section shall be in full force and effect;

       

      (ii)          the
Note Registrar and the Indenture Trustee shall be entitled to deal with the
Clearing Agency for all purposes of this Indenture (including the payment of
principal of and interest on the Notes and the giving of instructions or
directions hereunder) as the sole holder of the Notes, and shall have no
obligation to the Note Owners;

       

      (iii)         to
the extent that the provisions of this Section conflict with any other
provisions of this Indenture, the provisions of this Section shall
control;

       

      (iv)         the
rights of Note Owners shall be exercised only through the Clearing Agency and
shall be limited to those established by law and agreements between such Note
Owners and the Clearing Agency and/or the Clearing Agency Participants; pursuant
to the Depository Agreement, unless and until Definitive Notes are issued
pursuant to Section 2.12, the initial Clearing Agency will make book-entry
transfers among the Clearing Agency Participants and receive and transmit
payments of principal of and interest on the Notes to such Clearing Agency
Participants; and

       

      (v)          whenever
this Indenture requires or permits actions to be taken based upon instructions
or directions of Holders of Notes evidencing a specified percentage of the
Outstanding Amount of the Notes (or any Class thereof), the Clearing Agency
shall be deemed to represent such percentage only to the extent that it has
received instructions to such effect from Note Owners and/or Clearing Agency
Participants owning or representing, respectively, such required percentage of
the beneficial interest in the Notes (or any Class thereof) and has delivered
such instructions to the Indenture Trustee.

       

      SECTION
2.11.  Notices to Clearing
Agency.  Whenever a notice or other communication to the
Noteholders is required under this Indenture, unless and until Definitive Notes
shall have been issued to Note Owners pursuant to Section 2.12, the Indenture
Trustee shall give all such notices and communications specified herein to be
given to Holders of the Notes to the Clearing Agency, and shall have no
obligation to the Note Owners or other Holders of the Notes.

       

      
        
          
          

        

        
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      SECTION
2.12.  Definitive
Notes.  If (i) the Administrator advises the Indenture Trustee
in writing that the Clearing Agency is no longer willing or able to properly
discharge its responsibilities with respect to the Notes, and the Administrator
is unable to locate a qualified successor, (ii) the Administrator at its option
advises the Indenture Trustee in writing that it elects to terminate the
book-entry system through the Clearing Agency or (iii) after the occurrence of
an Event of Default or a Servicer Default, Note Owners representing beneficial
interests aggregating at least a majority of the Outstanding Amount of the Notes
advise the Clearing Agency in writing that the continuation of a book-entry
system through the Clearing Agency is no longer in the best interests of the
Note Owners, then the Clearing Agency shall notify all Note Owners and the
Indenture Trustee of the occurrence of any such event and of the availability of
Definitive Notes to Note Owners requesting the same.  Upon surrender
to the Indenture Trustee of the typewritten Note or Notes representing the
Book-Entry Notes by the Clearing Agency, accompanied by registration
instructions, the Issuing Entity shall execute and the Indenture Trustee shall
authenticate the Definitive Notes in accordance with the instructions of the
Clearing Agency.  None of the Issuing Entity, the Note Registrar or
the Indenture Trustee shall be liable for any delay in delivery of such
instructions and may conclusively rely on, and shall be protected in relying on,
such instructions.  Upon the issuance of Definitive Notes, the
Indenture Trustee shall recognize the Holders of the Definitive Notes as
Noteholders.

       

      SECTION
2.13.  Notes
as Indebtedness for Tax Purposes.  The Issuing Entity is
entering into this Indenture with the intention that, for federal, State and
local income and franchise tax purposes, each Note will qualify as indebtedness
secured by the Collateral.

       

      ARTICLE
III

       

      COVENANTS

       

      SECTION
3.01.  Payment of Principal and
Interest.   The Issuing Entity will duly and punctually
pay the principal of and interest on the Notes in accordance with the terms of
the Notes and this Indenture.  Without limiting the foregoing, the
Issuing Entity will cause to be distributed all amounts on deposit in the Note
Distribution Account on a Payment Date.  Amounts properly withheld
under the Code by any Person from a payment to any Noteholder of interest and/or
principal shall be considered as having been paid by the Issuing Entity to such
Noteholder for all purposes of this Indenture.

       

      SECTION
3.02.  Maintenance of Office or
Agency.  The Issuing Entity will maintain in the Borough of
Manhattan, The City of New York, an office or agency where Notes may be
surrendered for registration of transfer or exchange, and where notices and
demands to or upon the Issuing Entity in respect of the Notes and this Indenture
may be served.  The Issuing Entity hereby initially appoints U.S. Bank
National Association to serve as its agent for the foregoing
purposes.  The Issuing Entity will give prompt written notice to the
Indenture Trustee of the location, and of any change in the location, of any
such office or agency.  If at any time the Issuing Entity shall fail
to maintain any such office or agency or shall fail to furnish the Indenture
Trustee with the address thereof, such surrenders, notices and demands may be
made or served at the Corporate Trust Office, and the Issuing Entity hereby
appoints the Indenture Trustee as its agent to receive all such surrenders,
notices and demands.

       

      
        
          
          

        

        
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      SECTION
3.03.  Money
for Payments To Be Held in Trust.  As provided in Section
8.02(a) and (b), all payments of amounts due and payable with respect to any
Notes that are to be made from amounts withdrawn from the Collection Account and
the Note Distribution Account pursuant to Section 8.02(c) shall be made on
behalf of the Issuing Entity by the Indenture Trustee or by another Paying
Agent, and no amounts so withdrawn from the Collection Account and the Note
Distribution Account for payments of Notes shall be paid over to the Issuing
Entity except as provided in this Section.

       

      At or
before noon (New York time) on each Payment Date and Redemption Date, the
Issuing Entity shall deposit or cause to be deposited in the Note Distribution
Account an aggregate sum sufficient to pay the amounts then becoming due under
the Notes, such sum to be held in trust for the benefit of the Persons entitled
thereto and (unless the Paying Agent is the Indenture Trustee) shall promptly
notify the Indenture Trustee of its action or failure so to act.

       

      The
Issuing Entity will cause each Paying Agent other than the Indenture Trustee to
execute and deliver to the Indenture Trustee an instrument in which such Paying
Agent shall agree with the Indenture Trustee (and if the Indenture Trustee acts
as Paying Agent, it hereby so agrees), subject to the provisions of this
Section, that such Paying Agent will:

       

      (i)           hold
all sums held by it for the payment of amounts due with respect to the Notes in
trust for the benefit of the Persons entitled thereto until such sums shall be
paid to such Persons or otherwise disposed of as herein provided and pay such
sums to such Persons as herein provided;

       

      (ii)          give
the Indenture Trustee notice of any default by the Issuing Entity of which it
has actual knowledge (or any other obligor upon the Notes) in the making of any
payment required to be made with respect to the Notes;

       

      (iii)         at
any time during the continuance of any such default, upon the written request of
the Indenture Trustee, forthwith pay to the Indenture Trustee all sums so held
in trust by such Paying Agent;

       

      (iv)         immediately
resign as a Paying Agent and forthwith pay to the Indenture Trustee all sums
held by it in trust for the payment of Notes if at any time it ceases to meet
the standards required to be met by a Paying Agent at the time of its
appointment; and

       

      (v)          comply
with all requirements of the Code with respect to the withholding from any
payments made by it on any Notes of any applicable withholding taxes imposed
thereon and with respect to any applicable reporting requirements in connection
therewith.

       

      The
Issuing Entity may at any time, for the purpose of obtaining the satisfaction
and discharge of this Indenture or for any other purpose, by Issuing Entity
Order direct any Paying Agent to pay to the Indenture Trustee all sums held in
trust  by such Paying Agent, such sums to be held by the Indenture
Trustee upon the same trusts as those upon which the sums were held by such
Paying Agent; and upon such payment by any Paying Agent to the Indenture

       

      
        
          
          

        

        
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      Trustee,
such Paying Agent shall be released from all further liability with respect to
such money.

       

      Subject
to applicable laws with respect to escheat of funds, any money held by the
Indenture Trustee or any Paying Agent in trust for the payment of any amount due
with respect to any Note and remaining unclaimed for two years after such amount
has become due and payable shall be discharged from such trust, and the
Indenture Trustee or such Paying Agent, as the case may be, shall give prompt
notice of such occurrence to the Issuing Entity and shall release such money to
the Issuing Entity on Issuing Entity Request; and the Holder of such Note shall
thereafter, as an unsecured general creditor, look only to the Issuing Entity
for payment thereof (but only to the extent of the amounts so paid to the
Issuing Entity), and all liability of the Indenture Trustee or such Paying Agent
with respect to such trust money shall thereupon cease; provided, however, that
the Indenture Trustee or such Paying Agent, before being required to make any
such repayment, may at the expense of the Issuing Entity cause to be published
once, in a newspaper published in the English language, customarily published on
each Business Day and of general circulation in The City of New York, notice
that such money remains unclaimed and that, after a date specified therein,
which shall not be less than 30 days from the date of such publication, any
unclaimed balance of such money then remaining will be repaid to the Issuing
Entity.  The Indenture Trustee may also adopt and employ, at the
expense of the Issuing Entity, any other reasonable means of notification of
such repayment (including, but not limited to, mailing notice of such repayment
to Holders whose Notes have been called but have not been surrendered for
redemption or whose right to or interest in moneys due and payable but not
claimed is determinable from the records of the Indenture Trustee or of any
Paying Agent, at the last address of record for each such Holder).

       

      SECTION
3.04.  Existence.  The
Issuing Entity will keep in full effect its existence, rights and franchises as
a statutory trust under the laws of the State of Delaware (unless it becomes, or
any successor Issuing Entity hereunder is or becomes, organized under the laws
of any other State or of the United States of America, in which case the Issuing
Entity will keep in full effect its existence, rights and franchises under the
laws of such other jurisdiction) and will obtain and preserve its qualification
to do business in each jurisdiction in which such qualification is or shall be
necessary to protect the validity and enforceability of this Indenture, the
Notes, the Collateral and each other instrument or agreement included in the
Trust Estate.

       

      SECTION
3.05.  Protection of Trust
Estate.  (a)  The Issuing Entity will from time to
time prepare, execute, deliver and file all such supplements and amendments
hereto and all such financing statements, continuation statements, instruments
of further assurance and other instruments, and will take such other action
necessary or advisable to:

       

      (i)           maintain
or preserve the lien and security interest (and the priority thereof) of this
Indenture or carry out more effectively the purposes hereof;

       

      (ii)          perfect,
publish notice of or protect the validity of any Grant made or to be made by
this Indenture;

       

      (iii)         enforce
any of the Collateral; or

       

      
        
          
          

        

        
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      (iv)          preserve
and defend title to the Trust Estate and the rights of the Indenture Trustee and
the Noteholders in such Trust Estate against the claims of all persons and
parties.

       

      The
Issuing Entity hereby designates the Indenture Trustee, and hereby authorizes
the Indenture Trustee as its agent and attorney-in-fact, to execute any
financing statement, continuation statement or other instrument delivered to the
Indenture Trustee pursuant to this Section.

       

      (b)           The
Issuing Entity hereby represents and warrants that, as to the Collateral pledged
to the Indenture Trustee for the benefit of the Noteholders, on the Closing
Date:

       

      (i)           the
Indenture creates a valid and continuing security interest (as defined in the
applicable UCC) in the Collateral that is in existence in favor of the Indenture
Trustee, which security interest is prior to all other liens, and is enforceable
as such as against creditors of and purchasers from the Issuing
Entity;

       

      (ii)          the
Receivables constitute “tangible chattel paper” under the applicable
UCC;

       

      (iii)         the
Issuing Entity owns and has good and marketable title to such Collateral free
and clear of any liens, claims or encumbrances of any Person, other than the
interest Granted under this Indenture;

       

      (iv)         the
Issuing Entity has acquired its ownership in such Collateral in good faith
without notice of any adverse claim;

       

      (v)          the
Trust Accounts are not in the name of any person other than the Indenture
Trustee and the Issuing Entity has not consented to the bank maintaining the
Trust Accounts to comply with the instructions of any person other than the
Indenture Trustee;

       

      (vi)         the
Issuing Entity has not assigned, pledged, sold, granted a security interest in
or otherwise conveyed any interest in such Collateral (or, if any such interest
has been assigned, pledged or otherwise encumbered, it has been released) other
than interests Granted pursuant to this Indenture;

       

      (vii)        the
Issuing Entity has caused or will have caused, within ten days after the Closing
Date, the filing of all appropriate financing statements in the proper filing
office in the appropriate jurisdiction under the applicable law in order to
perfect the security interest Granted hereunder in the Receivables;

       

      (viii)       other
than its Granting hereunder, the Issuing Entity has not Granted such Collateral,
the Issuing Entity has not authorized the filing of and is not aware of any
financing statements against the Issuing Entity that include a description of
such Collateral other than the financing statement in favor of the Indenture
Trustee, and the Issuing Entity is not aware of any judgment or tax lien filing
against it; and

       

      
        
          
          

        

        
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      (ix)         the
information relating to such Collateral set forth in the Schedule of Receivables
(attached hereto as Exhibit A) is correct.

       

      SECTION
3.06.  Opinions as to Trust
Estate.  (a)  On the Closing Date, the Issuing Entity
shall furnish to the Indenture Trustee an Opinion of Counsel either stating
that, in the opinion of such counsel, such action has been taken with respect to
the recording and filing of this Indenture, any indentures supplemental hereto,
and any other requisite documents, and with respect to the execution and filing
of any financing statements and continuation statements, as are necessary to
perfect and make effective the lien and security interest of this Indenture and
reciting the details of such action, or stating that, in the opinion of such
counsel, no such action is necessary to make such lien and security interest
effective.

       

      (b)           On
or before February 28 in each calendar year, beginning in 2010, the Issuing
Entity shall furnish to the Indenture Trustee an Opinion of Counsel either
stating that, in the opinion of such counsel, such action has been taken with
respect to the recording, filing, re-recording and refiling of this Indenture,
any indentures supplemental hereto and any other requisite documents and with
respect to the execution and filing of any financing statements and continuation
statements as is necessary to maintain the lien and security interest created by
this Indenture and reciting the details of such action or stating that in the
opinion of such counsel no such action is necessary to maintain such lien and
security interest. Such Opinion of Counsel shall also describe the recording,
filing, re-recording and refiling of this Indenture, any indentures supplemental
hereto and any other requisite documents and the execution and filing of any
financing statements and continuation statements that will, in the opinion of
such counsel, be required to maintain the lien and security interest of this
Indenture until February 28 in the following calendar year.

       

      SECTION
3.07.  Performance of Obligations;
Servicing of Receivables.  (a)  The Issuing Entity
will not take any action and will use its best efforts not to permit any action
to be taken by others that would release any Person from any of such Person’s
material covenants or obligations under any instrument or agreement included in
the Trust Estate or that would result in the amendment, hypothecation,
subordination, termination or discharge of, or impair the validity or
effectiveness of, any such instrument or agreement, except as expressly provided
in this Indenture, the Sale and Servicing Agreement or such other instrument or
agreement.

       

      (b)           The
Issuing Entity may contract with other Persons to assist it in performing its
duties under this Indenture, and any performance of such duties by a Person
identified to the Indenture Trustee in an Officer’s Certificate of the Issuing
Entity shall be deemed to be action taken by the Issuing
Entity.  Initially, the Issuing Entity has contracted with the
Servicer and the Administrator to assist the Issuing Entity in performing its
duties under this Indenture.

       

      (c)           The
Issuing Entity will punctually perform and observe all of its obligations and
agreements contained in this Indenture, the Basic Documents and in the
instruments and agreements included in the Trust Estate, including but not
limited to filing or causing to be filed all UCC financing statements and
continuation statements required to be filed by the terms of this Indenture and
the Sale and Servicing Agreement in accordance with and within the time periods
provided for herein and therein.  Except as otherwise expressly
provided 

       

      
        
          
          

        

        
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      therein,
the Issuing Entity shall not waive, amend, modify, supplement or terminate any
Basic Document or any provision thereof without the consent of the Indenture
Trustee or the Holders of at least a majority of the Outstanding Amount of the
Notes.

       

      (d)           If
the Issuing Entity shall have knowledge of the occurrence of a Servicer Default
under the Sale and Servicing Agreement, the Issuing Entity shall promptly notify
a Responsible Officer of the Indenture Trustee and the Rating Agencies thereof,
and shall specify in such notice the action, if any, the Issuing Entity is
taking with respect to such default.  If a Servicer Default shall
arise from the failure of the Servicer to perform any of its duties or
obligations under the Sale and Servicing Agreement with respect to the
Receivables, the Issuing Entity shall take all reasonable steps available to it
to remedy such failure.

       

      (e)           As
promptly as possible after the giving of notice of termination to the Servicer
of the Servicer’s rights and powers pursuant to Section 8.01 of the Sale and
Servicing Agreement, the Issuing Entity shall appoint a successor servicer (the
“Successor Servicer”), and such Successor Servicer shall accept its appointment
by a written assumption in a form acceptable to the Indenture
Trustee.  In the event that a Successor Servicer has not been
appointed and accepted its appointment at the time when the Servicer ceases to
act as Servicer, the Indenture Trustee without further action shall
automatically be appointed the Successor Servicer, subject to Section 8.02 of
the Sale and Servicing Agreement.  The Indenture Trustee may resign as
the Servicer by giving written notice of such resignation to the Issuing Entity
and in such event will be released from such duties and obligations, such
release not to be effective until the date a new servicer enters into a
servicing agreement with the Issuing Entity as provided below.  In
each case of either the appointment of the Indenture Trustee (or any Affiliate
as provided below) as Successor Servicer, or resignation of the Indenture
Trustee as Servicer, the Indenture Trustee shall provide to the Depositor, in
writing, such information as reasonably requested by the Depositor to comply
with its reporting obligation under the Exchange Act with respect to a successor
Servicer or the resignation of the Servicer.  Upon delivery of any
such notice to the Issuing Entity, the Issuing Entity shall obtain a new
servicer as the Successor Servicer under the Sale and Servicing
Agreement.  Any Successor Servicer other than the Indenture Trustee
shall (i) be an established financial institution having a net worth of not
less than $50,000,000 and whose regular business includes the servicing of
equipment receivables, (ii) enter into a servicing agreement with the Issuing
Entity having substantially the same provisions as the provisions of the Sale
and Servicing Agreement applicable to the Servicer and (iii) shall provide to
the Depositor, in writing, such information as reasonably requested by the
Depositor to comply with its reporting obligation under the Exchange Act with
respect to a successor Servicer.  If within 30 days after the delivery
of the notice referred to above, the  Issuing Entity shall not have
obtained such a new servicer, the Indenture Trustee may appoint, or may petition
a court of competent jurisdiction to appoint, a Successor
Servicer.  In connection with any such appointment, the Indenture
Trustee may make such arrangements for the compensation of such successor as it
and such successor shall agree, subject to the limitations set forth below and
in the Sale and Servicing Agreement, and in accordance with Section 8.02 of the
Sale and Servicing Agreement, the Issuing Entity shall enter into an agreement
with such successor for the servicing of the Receivables (such agreement to be
in form and substance satisfactory to the Indenture Trustee).  If the
Indenture Trustee shall succeed to the Servicer’s duties as servicer of the
Receivables as provided herein, it shall do so in its capacity as servicer and
not in its capacity as Indenture Trustee and, accordingly, the provisions of
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      shall be
inapplicable to the Indenture Trustee in its duties as the successor to the
Servicer and the servicing of the Receivables.  In case the Indenture
Trustee shall become successor to the Servicer under the Sale and Servicing
Agreement, the Indenture Trustee shall be entitled to appoint as Servicer any
one of its affiliates, provided that it shall be fully liable for the actions
and omissions of such affiliate in such capacity as Successor
Servicer.

       

      (f)           Upon
any termination of the Servicer’s rights and powers pursuant to the Sale and
Servicing Agreement, the Issuing Entity shall promptly notify the Indenture
Trustee.  As soon as a Successor Servicer is appointed, the Issuing
Entity shall notify the Indenture Trustee of such appointment, specifying in
such notice the name and address of such Successor Servicer.

       

      (g)           Without
derogating from the absolute nature of the assignment granted to the Indenture
Trustee under this Indenture or the rights of the Indenture Trustee hereunder,
the Issuing Entity agrees that it will not, without the prior written consent of
the Indenture Trustee or the Holders of at least a majority in Outstanding
Amount of the Notes, amend, modify, waive, supplement, terminate or surrender,
or agree to any amendment, modification, supplement, termination, waiver or
surrender of, the terms of any Collateral (except to the extent otherwise
provided in the Sale and Servicing Agreement) or the Basic Documents, or waive
timely performance or observance by the Servicer or the Seller under the Sale
and Servicing Agreement or JDCC under the Purchase Agreement; provided, however,
that no such amendment shall (i) increase or reduce in any manner the amount of,
or accelerate or delay the timing of, collections of payments
on  Receivables or distributions that are required to be made for the
benefit of the Noteholders or (ii) reduce the aforesaid percentage of the Notes
which are required to consent to any such amendment, without the consent of the
holders of all the outstanding Notes.  If any such amendment,
modification, supplement or waiver shall be so consented to by the Indenture
Trustee or such Holders, the Issuing Entity agrees, promptly following a request
by the Indenture Trustee to do so, to execute and deliver, in its own name and
at its own expense, such agreements, instruments, consents and other documents
as the Indenture Trustee may reasonably deem necessary or appropriate in the
circumstances.

       

      SECTION
3.08.  Negative
Covenants.  So long as any Notes are Outstanding, the Issuing
Entity shall not:

       

      (i)           except
as expressly permitted by this Indenture, the Purchase Agreement, the Trust
Agreement or the Sale and Servicing Agreement, sell, transfer, exchange or
otherwise dispose of any of the properties or assets of the Issuing Entity,
including those included in the Trust Estate, unless directed to do so by the
Indenture Trustee;

       

      (ii)          claim
any credit on, or make any deduction from the principal or interest payable in
respect of, the Notes (other than amounts properly withheld from such payments
under the Code) or assert any claim against any present or former Noteholder by
reason of the payment of the taxes levied or assessed upon any part of the Trust
Estate; or

       

      
        
          
          

        

        
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      (iii)         (A)
permit the validity or effectiveness of this Indenture to be impaired, or permit
the lien of this Indenture to be amended, hypothecated, subordinated, terminated
or discharged, or permit any Person to be released from any covenants or
obligations with respect to the Notes under this Indenture except as may be
expressly permitted hereby, (B) permit any lien, charge, excise, claim, security
interest, mortgage or other encumbrance (other than the lien of this Indenture)
to be created on or extend to or otherwise arise upon or burden the Trust Estate
or any part thereof or any interest therein or the proceeds thereof (other than
tax liens, mechanics’ liens and other liens that arise by operation of law, in
each case on a Financed Equipment and arising solely as a result of an action or
omission of the related Obligor) or (C) permit the lien of this Indenture not to
constitute a valid first priority (other than with respect to any such tax,
mechanics’ or other lien arising by operation of law) security interest in the
Trust Estate.

       

      SECTION
3.09.  Annual Statement as to
Compliance.  The Issuing Entity will deliver to the Indenture
Trustee, within 120 days after the end of each fiscal year of the Issuing Entity
(commencing with the fiscal year ending in 2009), an Officer’s Certificate
stating, as to the Authorized Officer signing such Officer’s Certificate,
that

       

      (i)           a
review of the activities of the Issuing Entity during the 12-month period ending
at the end of such fiscal year (or in the case of the fiscal year ending October
2009, the period from the Closing Date to October 31, 2009) and of performance
under this Indenture has been made under such Authorized Officer’s supervision;
and

       

      (ii)          to
the best of such Authorized Officer’s knowledge, based on such review, the
Issuing Entity has complied with all conditions and covenants under this
Indenture throughout such year, or, if there has been a default in the
compliance of any such condition or covenant, specifying each such default known
to such Authorized Officer and the nature and status thereof.

       

      SECTION
3.10.  Issuing Entity May
Consolidate, etc., Only on Certain Terms.  (a)  The
Issuing Entity shall not consolidate or merge with or into any other Person,
unless

       

      (i)           the
Person (if other than the Issuing Entity) formed by or surviving such
consolidation or merger shall be a Person organized and existing under the laws
of the United States of America or any State and shall expressly assume, by an
indenture supplemental hereto, executed and delivered to the Indenture Trustee,
in form satisfactory to the Indenture Trustee, the due and punctual payment of
the principal of and interest on all Notes and the performance or observance of
every agreement and covenant of this Indenture on the part of the Issuing Entity
to be performed or observed, all as provided herein;

       

      (ii)          immediately
after giving effect to such transaction, no Default or Event of Default shall
have occurred and be continuing;

       

      (iii)         the
Rating Agency Condition shall have been satisfied with respect to such
transaction;

       

      
        
          
          

        

        
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      (iv)         the
Issuing Entity shall have received an Opinion of Counsel (and shall have
delivered copies thereof to the Indenture Trustee) to the effect that such
transaction will not have any material adverse tax consequence to the Trust, any
Noteholder or any Certificateholder;

       

      (v)          any
action as is necessary to maintain the lien and security interest created by
this Indenture shall have been taken; and

       

      (vi)         the
Issuing Entity shall have delivered to the Indenture Trustee an Officer’s
Certificate and an Opinion of Counsel each stating that such consolidation or
merger and such supplemental indenture comply with this Article III and that all
conditions precedent herein provided for relating to such transaction have been
complied with (including any filing required by the Exchange Act).

       

      (b)           The
Issuing Entity shall not convey or transfer any of its properties or assets,
including those included in the Trust Estate, to any Person, unless

       

      (i)           the
Person that acquires by conveyance or transfer the properties and assets of the
Issuing Entity the conveyance or transfer of which is hereby restricted shall
(A) be a United States citizen or a Person organized and existing under the laws
of the United States of America or any State, (B) expressly assumes, by an
indenture supplemental hereto, executed and delivered to the Indenture Trustee,
in form satisfactory to the Indenture Trustee, the due and punctual payment of
the principal of and interest on all Notes and the performance or observance of
every agreement and covenant of this Indenture on the part of the Issuing Entity
to be performed or observed, all as provided herein, (C) expressly agrees by
means of such supplemental indenture that all right, title and interest so
conveyed or transferred shall be subject and subordinate to the rights of
Holders of the Notes, (D) unless otherwise provided in such supplemental
indenture, expressly agrees to indemnify, defend and hold harmless the Issuing
Entity against and from any loss, liability or expense arising under or related
to this Indenture and the Notes, (E) expressly agrees by means of such
supplemental indenture that such Person (or if a group of Persons, then one
specified Person) shall make all filings with the Commission (and any other
appropriate Person) required by the Exchange Act in connection with the Notes
and (F) such conveyance or transfer is expressly permitted by this Indenture,
the Purchase Agreement, the Sale and Servicing Agreement and the Trust
Agreement;

       

      (ii)          immediately
after giving effect to such transaction, no Default or Event of Default shall
have occurred and be continuing;

       

      (iii)         the
Rating Agency Condition shall have been satisfied with respect to such
transaction;

       

      (iv)        
the Issuing Entity shall have received an Opinion of Counsel (and shall have
delivered copies thereof to the Indenture Trustee) to the effect that such
transaction will not have any material adverse tax consequence to the Trust, any
Noteholder or any Certificateholder;

       

      
        
          
          

        

        
          24

          
            

          

        

        
          
          

        

      

       

      (v)         any
action as is necessary to maintain the lien and security interest created by
this Indenture shall have been taken; and

       

      (vi)        
the Issuing Entity shall have delivered to the Indenture Trustee an Officer’s
Certificate and an Opinion of Counsel each stating that such conveyance or
transfer and such supplemental indenture comply with this Article III and that
all conditions precedent herein provided for relating to such transaction have
been complied with (including any filing required by the Exchange
Act).

       

      SECTION
3.11.  Successor or
Transferee.  (a)  Upon any consolidation or merger of
the Issuing Entity in accordance with Section 3.10(a), the Person formed by or
surviving such consolidation or merger (if other than the Issuing Entity) shall
succeed to, and be substituted for, and may exercise every right and power of,
the Issuing Entity under this Indenture with the same effect as if such Person
had been named as the Issuing Entity herein.

       

      (b)           Upon
a conveyance or transfer of all the assets and properties of the Issuing Entity
pursuant to Section 3.10(b), the Issuing Entity will be released from every
covenant and agreement of this Indenture to be observed or performed on the part
of the Issuing Entity with respect to the Notes immediately upon the delivery to
and acceptance by the Indenture Trustee of the Officer’s Certificate and Opinion
of Counsel specified in Section 3.10(b)(vi) stating that the Issuing Entity is
to be so released.

       

      SECTION
3.12.  No
Other Business.  The Issuing Entity shall not engage in any
business other than financing, purchasing, owning, selling and managing the
Receivables in the manner contemplated by this Indenture and the Basic
Documents, issuing the Notes and Certificates and activities incidental
thereto.

       

      SECTION
3.13.  No
Borrowing.  The Issuing Entity shall not issue, incur, assume,
guarantee or otherwise become liable, directly or indirectly, for any
indebtedness except for the Notes.

       

      SECTION
3.14.  Servicer’s
Obligations.  The Issuing Entity shall cause the Servicer to
comply with Sections 4.09, 4.10, 4.11 and 5.06 of the Sale and Servicing
Agreement.

       

      SECTION
3.15.  Guarantees, Loans, Advances
and Other Liabilities.  Except as contemplated by the Sale and
Servicing Agreement or this Indenture, the Issuing Entity shall not make any
loan or advance or credit to, or guarantee (directly or indirectly or by an
instrument having the effect of assuring another’s payment or performance on any
obligation or capability of so doing or otherwise), endorse or otherwise become
contingently liable, directly or indirectly, in connection with the obligations,
stocks or dividends of, or own, purchase, repurchase or acquire (or agree
contingently to do so) any stock, obligations, assets or securities of, or any
other interest in, or make any capital contribution to, any other
Person.

       

      SECTION
3.16.  Capital
Expenditures.  The Issuing Entity shall not make any
expenditure (by long-term or operating lease or otherwise) for capital assets
(either realty or personality).

       

      
        
          
          

        

        
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      SECTION
3.17.  Removal of
Administrator.  So long as any Notes are Outstanding, the
Issuing Entity shall not remove the Administrator without cause unless the
Rating Agency Condition shall have been satisfied in connection with such
removal.

       

      SECTION
3.18.  Restricted
Payments.  The Issuing Entity shall not, directly or
indirectly, (i) pay any dividend or make any distribution (by reduction of
capital or otherwise), whether in cash, property, securities or a combination
thereof, to the Owner Trustee or any owner of a beneficial interest in the
Issuing Entity or otherwise with respect to any ownership or equity interest or
security in or of the Issuing Entity or to the Servicer, (ii) redeem, purchase,
retire or otherwise acquire for value any such ownership or equity interest or
security or (iii) set aside or otherwise segregate any amounts for any such
purpose; provided, however, that the Issuing Entity may make, or cause to be
made, (x) distributions to the Servicer, the Owner Trustee and the
Certificateholders as permitted by, and to the extent funds are available for
such purpose under, the Sale and Servicing Agreement and (y) payments to the
Indenture Trustee pursuant to Section 1(a)(ii) of the Administration Agreement.
The Issuing Entity will not, directly or indirectly, make payments to or
distributions from the Collection Account except in accordance with this
Indenture and the Basic Documents.

       

      SECTION
3.19.  Notice of Events of
Default.  The Issuing Entity agrees to give a Responsible
Officer of the Indenture Trustee and the Rating Agencies prompt written notice
of each Event of Default hereunder and, within five days after obtaining
knowledge of any of the following occurrences, written notice of each default on
the part of the Servicer or the Seller of its obligations under the Sale and
Servicing Agreement and each default on the part of JDCC of its obligations
under the Purchase Agreement.

       

      SECTION
3.20.  Further Instruments and
Acts.  Upon request of the Indenture Trustee, the Issuing
Entity will execute and deliver such further instruments and do such further
acts as may be reasonably necessary or proper to carry out more effectively the
purpose of this Indenture.

       

      ARTICLE
IV

       

      SATISFACTION
AND DISCHARGE

       

      SECTION
4.01.  Satisfaction and Discharge
of Indenture.  This Indenture shall cease to be of further
effect with respect to the Notes except as to (i) rights of registration of
transfer and exchange, (ii) substitution of mutilated, destroyed, lost or stolen
Notes, (iii) rights of Noteholders to receive payments of principal thereof and
interest thereon, (iv) Sections 3.03, 3.04, 3.05, 3.08, 3.10, 3.12 and 3.13, (v)
the rights, obligations and immunities of the Indenture Trustee hereunder
(including the rights of the Indenture Trustee under Section 6.07 and the
obligations of the Indenture Trustee under Section 4.02) and (vi) the rights of
Noteholders as beneficiaries hereof with respect to the property so deposited
with the Indenture Trustee payable to all or any of them, and the Indenture
Trustee, on demand of and at the expense of the Issuing Entity, shall execute
proper instruments acknowledging satisfaction and discharge of this Indenture
with respect to the Notes, when

       

      
        
          
          

        

        
          26

          
            

          

        

        
          
          

        

      

       

      (A)        either

       

      (1)          all
Notes theretofore authenticated and delivered (other than (i) Notes that have
been destroyed, lost or stolen and that have been replaced or paid as provided
in Section 2.05 and (ii) Notes for whose payment money has theretofore been
deposited in trust or segregated and held in trust by the Issuing Entity and
thereafter repaid to the Issuing Entity or discharged from such trust, as
provided in Section 3.03) have been delivered to the Indenture Trustee for
cancellation; or

       

      (2)          all
Notes not theretofore delivered to the Indenture Trustee for
cancellation

       

      (a)           have
become due and payable,

       

      (b)           will
become due and payable at the Class A-4 Final Scheduled Payment Date within one
year, or

       

      (c)           are
to be called for redemption within one year under arrangements satisfactory to
the Indenture Trustee for the giving of notice of redemption by the Indenture
Trustee in the name, and at the expense, of the Issuing Entity, and the Issuing
Entity, in the case of clause (a), (b) or (c) immediately above, has irrevocably
deposited or caused to be irrevocably deposited with the Indenture Trustee cash
or direct obligations of or obligations guaranteed by the United States of
America (which will mature prior to the date such amounts are payable), in trust
for such purpose, in an amount sufficient to pay and discharge the entire
indebtedness on such Notes not theretofore delivered to the Indenture Trustee
for cancellation as of such day of discharge or when due on the Class A-4 Final
Scheduled Payment Date or Redemption Date (if Notes shall have been called for
redemption pursuant to Section 10.01(a)), as the case may be;

       

      (B)         the
Issuing Entity has paid or caused to be paid all other sums payable hereunder by
the Issuing Entity; and

       

      (C)         the
Issuing Entity has delivered to the Indenture Trustee an Officer’s Certificate,
an Opinion of Counsel and (if required by the TIA) an Independent Certificate
from a firm of certified public accountants, each meeting the applicable
requirements of Section 11.01(a) and each stating that all conditions precedent
herein provided for relating to the satisfaction and discharge of this Indenture
have been complied with.

       

      SECTION
4.02.  Application of Trust
Money.  All moneys deposited with the Indenture Trustee
pursuant to Section 4.01 shall be held in trust and applied by it, in accordance
with the provisions of the Notes and this Indenture, to the payment, either
directly or through any Paying Agent, as the Indenture Trustee may determine, to
the Holders of the particular Notes for 

       

      
        
          
          

        

        
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      the
payment or redemption of which such moneys have been deposited with the
Indenture Trustee, of all sums due and to become due thereon for principal and
interest; but such moneys need not be segregated from other funds except to the
extent required herein or in the Sale and Servicing Agreement or required by
law.

       

      SECTION
4.03.  Repayment of Moneys Held by
Paying Agent.  In connection with the satisfaction and
discharge of this Indenture with respect to the Notes, all moneys then held by
any Paying Agent other than the Indenture Trustee under the provisions of this
Indenture with respect to such Notes shall, upon demand of the Issuing Entity,
be paid to the Indenture Trustee to be held and applied according to Section
3.03 and thereupon such Paying Agent shall be released from all further
liability with respect to such moneys.

       

      ARTICLE
V

       

      REMEDIES

       

      SECTION
5.01.  Events of
Default.  “Event of Default”, wherever used herein, means any
one of the following events (whatever the reason for such Event of Default and
whether it shall be voluntary or involuntary or be effected by operation of law
or pursuant to any judgment, decree or order of any court or any order, rule or
regulation of any administrative or governmental body):

       

      (i)           default
in the payment of any interest on any Note when the same becomes due and
payable, and such default shall continue for a period of five days;
or

       

      (ii)          default
in the payment of the principal of or any installment of the principal of any
Note when the same becomes due and payable; or

       

      (iii)         default
in the observance or performance of any covenant or agreement of the Issuing
Entity made in this Indenture (other than a covenant or agreement, a default in
the observance or performance of which is elsewhere in this Section specifically
dealt with), or any representation or warranty of the Issuing Entity made in
this Indenture or in any certificate or other writing delivered pursuant hereto
or in connection herewith proving to have been incorrect in any material respect
as of the time when the same shall have been made, and such default shall
continue or not be cured, or the circumstance or condition in respect of which
such representation or warranty was incorrect shall not have been eliminated or
otherwise cured, for a period of 30 days after there shall have been given, by
registered or certified mail, to the Issuing Entity by the Indenture Trustee or
to the Issuing Entity and the Indenture Trustee by the Holders of at least 25%
of the Outstanding Amount of the Notes, a written notice specifying such default
or incorrect representation or warranty and requiring it to be remedied and
stating that such notice is a “Notice of Default” hereunder; or

       

      (iv)         the
filing of a decree or order for relief by a court having jurisdiction in the
premises in respect of the Issuing Entity or any substantial part of the Trust
Estate in an involuntary case under any applicable federal or State bankruptcy,
insolvency or other similar law now or hereafter in effect, or appointing a
receiver, 

       

      
        
          
          

        

        
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      liquidator,
assignee, custodian, trustee, sequestrator or similar official for the Issuing
Entity or for any substantial part of the Trust Estate, or ordering the
winding-up or liquidation of the Issuing Entity’s affairs, and such decree or
order shall remain unstayed and in effect for a period of 90 consecutive days;
or

       

      (v)          the
commencement by the Issuing Entity of a voluntary case under any applicable
federal or State bankruptcy, insolvency or other similar law now or hereafter in
effect, or the consent by the Issuing Entity to the entry of an order for relief
in an involuntary case under any such law, or the consent by the Issuing Entity
to the appointment or taking possession by a receiver, liquidator, assignee,
custodian, trustee, sequestrator or similar official of the Issuing Entity or
for any substantial part of the Trust Estate, or the making by the Issuing
Entity of any general assignment for the benefit of creditors, or the failure by
the Issuing Entity generally to pay its debts as such debts become due, or the
taking of action by the Issuing Entity in furtherance of any of the
foregoing.

       

      The
Issuing Entity shall deliver to a Responsible Officer of the Indenture Trustee,
within five days after the occurrence thereof, written notice in the form of an
Officer’s Certificate of any event which with the giving of notice and the lapse
of time would become an Event of Default under clause (iii), (iv) and (v), its
status and what action the Issuing Entity is taking or proposes to take with
respect thereto.

       

      SECTION
5.02.  Acceleration of Maturity;
Rescission and Annulment.  If an Event of Default should occur
and be continuing, then and in every such case the Indenture Trustee or the
Holders of Notes representing a majority of the Outstanding Amount of the Notes
may declare all the Notes to be immediately due and payable, by a notice in
writing to the Issuing Entity (and to the Indenture Trustee if given by
Noteholders), and upon any such declaration the unpaid principal amount of the
Notes, together with accrued and unpaid interest thereon through the date of
acceleration, shall become immediately due and payable.

       

      At any
time after such declaration of acceleration of maturity has been made and before
a judgment or decree for payment of the money due has been obtained by the
Indenture Trustee as hereinafter in this Article V provided, the Holders of
Notes representing a majority of the Outstanding Amount of the Notes, by written
notice to the Issuing Entity and the Indenture Trustee, may rescind and annul
such declaration and its consequences if:

       

      (i)           the
Issuing Entity has paid or deposited with the Indenture Trustee a sum sufficient
to pay

       

      (A)        all
payments of principal of and interest on all Notes and all other amounts that
would then be due hereunder or upon such Notes if the Event of Default giving
rise to such acceleration had not occurred; and

       

      (B)         all
sums paid or advanced by the Indenture Trustee hereunder and the reasonable
compensation, expenses, disbursements and advances of the Indenture Trustee and
its agents and counsel; and

       

      
        
          
          

        

        
          29

          
            

          

        

        
          
          

        

      

       

      (ii)          all
Events of Default, other than the nonpayment of the principal of the Notes that
has become due solely by such acceleration, have been cured or waived as
provided in Section 5.12.

       

      No such
rescission shall affect any subsequent default or impair any right consequent
thereto.

       

      SECTION
5.03.  Collection of Indebtedness
and Suits for Enforcement by Indenture
Trustee.  (a)  The Issuing Entity covenants that if
(i) default is made in the payment of any interest on any Note when the same
becomes due and payable, and such default continues for a period of five days,
or (ii) default is made in the payment of the principal of or any installment of
the principal of any Note when the same becomes due and payable, the Issuing
Entity will, upon demand of the Indenture Trustee, pay to it, for the benefit of
the Holders of the Notes, the whole amount then due and payable on such Notes
for principal and interest, with interest upon the overdue principal, and, to
the extent payment at such rate of interest shall be legally enforceable, upon
overdue installments of interest, at a rate per annum equal to the sum of (i)
the respective Note Interest Rate borne by such Notes and (ii) 1.0% and in
addition thereto such further amount as shall be sufficient to cover the costs
and expenses of collection, including the reasonable compensation, expenses,
disbursements and advances of the Indenture Trustee and its agents and
counsel.

       

      (b)           In
case the Issuing Entity shall fail forthwith to pay such amounts upon such
demand, the Indenture Trustee, in its own name and as trustee of an express
trust, may institute a Proceeding for the collection of the sums so due and
unpaid, and may prosecute such Proceeding to judgment or final decree, and may
enforce the same against the Issuing Entity or other obligor upon such Notes and
collect in the manner provided by law out of the property of the Issuing Entity
or other obligor upon such Notes, wherever situated, the moneys adjudged or
decreed to be payable.

       

      (c)           If
an Event of Default occurs and is continuing, the Indenture Trustee may, as more
particularly provided in Section 5.04, in its discretion, proceed to protect and
enforce its rights and the rights of the Noteholders, by such appropriate
Proceedings as the Indenture Trustee shall deem most effective to protect and
enforce any such rights, whether for the specific enforcement of any covenant or
agreement in this Indenture or in aid of the exercise of any power granted
herein, or to enforce any other proper remedy or legal or equitable right vested
in the Indenture Trustee by this Indenture or by law.

       

      (d)           In
case there shall be pending, relative to the Issuing Entity or any other obligor
upon the Notes or any Person having or claiming an ownership interest in the
Trust Estate, Proceedings under the Bankruptcy Code or any other applicable
federal or State bankruptcy, insolvency or other similar law, or in case a
receiver, assignee or trustee in bankruptcy or reorganization, liquidator,
sequestrator or similar official shall have been appointed for or taken
possession of the Issuing Entity or its property or such other obligor or
Person, or in case of any other comparable judicial Proceedings relative to the
Issuing Entity or other obligor upon the Notes, or to the creditors or property
of the Issuing Entity or such other obligor, the Indenture Trustee, irrespective
of whether the principal of any Notes shall then be due and payable as therein
expressed or by declaration or otherwise and irrespective of whether

       

      
        
          
          

        

        
          30

          
            

          

        

        
          
          

        

      

       

      the
Indenture Trustee shall have made any demand pursuant to the provisions of this
Section, shall be entitled and empowered, by intervention in such Proceedings or
otherwise:

       

      (i)           to
file and prove a claim or claims for the whole amount of principal and interest
owing and unpaid in respect of the Notes and to file such other papers or
documents as may be necessary or advisable in order to have the claims of the
Indenture Trustee (including any claim for reasonable compensation to the
Indenture Trustee and each predecessor Indenture Trustee, and their respective
agents, attorneys and counsel, and for reimbursement of all expenses and
liabilities incurred, and all advances made, by the Indenture Trustee and each
predecessor Indenture Trustee, except as a result of negligence or bad faith)
and of the Noteholders allowed in such Proceedings;

       

      (ii)          unless
prohibited by applicable law and regulations, to vote on behalf of the Holders
of Notes in any election of a trustee, a standby trustee or Person performing
similar functions in any such Proceedings;

       

      (iii)         to
collect and receive any moneys or other property payable or deliverable on any
such claims and to distribute all amounts received with respect to the claims of
the Noteholders and of the Indenture Trustee on their behalf; and

       

      (iv)         to
file such proofs of claim and other papers or documents as may be necessary or
advisable in order to have the claims of the Indenture Trustee or the Holders of
Notes allowed in any judicial proceedings relative to the Issuing Entity, its
creditors and its property; and any trustee, receiver, liquidator, custodian or
other similar official in any such Proceeding is hereby authorized by each of
such Noteholders to make payments to the Indenture Trustee, and, in the event
that the Indenture Trustee shall consent to the making of payments directly to
such Noteholders, to pay to the Indenture Trustee such amounts as shall be
sufficient to cover reasonable compensation to the Indenture Trustee, each
predecessor Indenture Trustee and their respective agents, attorneys and
counsel, and all other expenses and liabilities incurred, and all advances made,
by the Indenture Trustee and each predecessor Indenture Trustee except as a
result of negligence or bad faith.

       

      (e)           Nothing
herein contained shall be deemed to authorize the Indenture Trustee to authorize
or consent to or vote for or accept or adopt on behalf of any Noteholder any
plan of reorganization, arrangement, adjustment or composition affecting the
Notes or the rights of any Holder thereof or to authorize the Indenture Trustee
to vote in respect of the claim of any Noteholder in any such proceeding except,
as aforesaid, to vote for the election of a trustee in bankruptcy or similar
Person.

       

      (f)           All
rights of action and of asserting claims under this Indenture, or under any of
the Notes, may be enforced by the Indenture Trustee without the possession of
any of the Notes or the production thereof in any trial or other Proceedings
relative thereto, and any such action or Proceedings instituted by the Indenture
Trustee shall be brought in its own name as trustee of an express trust, and any
recovery of judgment, subject to the payment of the expenses, disbursements and
compensation of the Indenture Trustee, each predecessor Indenture Trustee

       

      
        
          
          

        

        
          31

          
            

          

        

        
          
          

        

      

       

      and their
respective agents and attorneys, shall be for the ratable benefit of the Holders
of the Notes.

       

      (g)           In
any Proceedings brought by the Indenture Trustee (and also any Proceedings
involving the interpretation of any provision of this Indenture to which the
Indenture Trustee shall be a party), the Indenture Trustee shall be held to
represent all the Holders of the Notes, and it shall not be necessary to make
any Noteholder a party to any such Proceedings.

       

      SECTION
5.04.  Remedies;
Priorities.  (a)  If an Event of Default shall have
occurred and be continuing, the Indenture Trustee may do one or more of the
following (subject to Section 5.05):

       

      (i)           institute
Proceedings in its own name and as trustee of an express trust for the
collection of all amounts then payable on the Notes or under this Indenture with
respect thereto, whether by declaration or otherwise, enforce any judgment
obtained, and collect from the Issuing Entity and any other obligor upon such
Notes moneys adjudged due;

       

      (ii)          institute
Proceedings from time to time for the complete or partial foreclosure of this
Indenture with respect to the Trust Estate;

       

      (iii)         exercise
any remedies of a secured party under the UCC and take any other appropriate
action to protect and enforce the rights and remedies of the Indenture Trustee
and the Holders of the Notes; and

       

      (iv)         sell
the Trust Estate or any portion thereof or rights or interest therein, at one or
more public or private sales called and conducted in any manner permitted by
law; provided,
however, that
the Indenture Trustee may not sell or otherwise liquidate the Trust Estate
following an Event of Default, other than an Event of Default described in
Section 5.01(i) or (ii), unless (A) the Holders of 100% of the Outstanding
Amount of the Notes consent thereto, (B) the proceeds of such sale or
liquidation distributable to the Noteholders are sufficient to discharge in full
all amounts then due and unpaid upon such Notes for principal and interest or
(C) the Indenture Trustee determines that the Trust Estate will not continue to
provide sufficient funds for the payment of principal of and interest on the
Notes as they would have become due if the Notes had not been declared due and
payable, and the Indenture Trustee obtains the consent of Holders of 66-2/3% of
the Outstanding Amount of the Notes.  In determining such sufficiency
or insufficiency with respect to clause (B) and (C), the Indenture Trustee may,
but need not, obtain and rely upon an opinion of an Independent investment
banking or accounting firm of national reputation as to the feasibility of such
proposed action and as to the sufficiency of the Trust Estate for such
purpose.

       

      (b)           If
the Indenture Trustee collects any money or property pursuant to this Article V,
it shall pay out the money or property in the following order:

       

      
        
          
          

        

        
          32

          
            

          

        

        
          
          

        

      

       

      FIRST:  to
the Indenture Trustee for amounts due under Section 6.07 and the Owner Trustee
for amounts due under Sections 8.01 and 8.02 of the Trust Agreement, pro rata on the basis of the
amount due to each;

       

      SECOND:
to the Noteholders in the following amounts and the following order of
priority:

       

      (i)           to
the Noteholders, accrued and unpaid interest on the Outstanding Amount of each
class of Notes at the applicable Note Interest Rate (such amount to be applied
pro rata on the basis
of the total interest due on the Notes);

       

      (ii)          to
the Noteholders on account of principal until the Outstanding Amount of the
Notes is reduced to zero (such amount to be applied pro rata on the basis of the
Outstanding Amount of each class of Notes); and

       

      THIRD:  to
the Issuing Entity for distribution to the Certificateholder.

       

      The
Indenture Trustee may fix a record date and payment date for any payment to
Noteholders pursuant to this Section.  At least 15 days before such
record date, the Issuing Entity shall mail to each Noteholder and the Indenture
Trustee a notice that states the record date, the payment date and the amount to
be paid.

       

      SECTION
5.05.  Optional Preservation of the
Receivables.  If the Notes have been declared to be due and
payable under Section 5.02 following an Event of Default and such declaration
and its consequences have not been rescinded and annulled, the Indenture Trustee
may, but need not, elect to maintain possession of the Trust
Estate.  It is the desire of the parties hereto and the Noteholders
that there be at all times sufficient funds for the payment of principal of and
interest on the Notes, and the Indenture Trustee shall take such desire into
account when determining whether or not to maintain possession of the Trust
Estate.  In determining whether to maintain possession of the Trust
Estate, the Indenture Trustee may, but need not, obtain and rely upon an opinion
of an Independent investment banking or accounting firm of national reputation
as to the feasibility of such proposed action and as to the sufficiency of the
Trust Estate for such purpose.

       

      SECTION
5.06.  Limitation of
Suits.  No Holder of any Note shall have any right to institute
any Proceeding, judicial or otherwise, with respect to this Indenture, or for
the appointment of a receiver or trustee, or for any other remedy hereunder,
unless:

       

      (i)           such
Holder has previously given written notice to the Indenture Trustee of a
continuing Event of Default;

       

      (ii)          the
Holders of not less than 25% of the Outstanding Amount of the Notes have made
written request to the Indenture Trustee to institute such Proceeding in respect
of such Event of Default in its own name as Indenture Trustee
hereunder;

       

      (iii)         such
Holder or Holders have offered to the Indenture Trustee indemnity reasonably
satisfactory to it against the costs, expenses and liabilities to be incurred in
complying with such request;

       

      
        
          
          

        

        
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      (iv)         the
Indenture Trustee for 60 days after its receipt of such notice, request and
offer of indemnity has failed to institute such Proceedings; and

       

      (v)          no
direction inconsistent with such written request has been given to the Indenture
Trustee during such 60-day period by the Holders of a majority of the
Outstanding Amount of the Notes; it being understood and intended that no one or
more Holders of Notes shall have any right in any manner whatever by virtue of,
or by availing of, any provision of this Indenture to affect, disturb or
prejudice the rights of any other Holders of Notes or to obtain or to seek to
obtain priority or preference over any other Holders or to enforce any right
under this Indenture, except in the manner herein provided.

       

      In the
event the Indenture Trustee shall receive conflicting or inconsistent requests
and indemnity from two or more groups of Holders of Notes, each representing
less than a majority of the Outstanding Amount of the Notes, the Indenture
Trustee in its sole discretion may determine what action, if any, shall be
taken, notwithstanding any other provisions of this Indenture, and shall have no
liability to any person for such action or inaction.

       

      SECTION
5.07.  Unconditional Rights of
Noteholders To Receive Principal and Interest.  Notwithstanding
any other provisions in this Indenture, the Holder of any Note shall have the
right, which is absolute and unconditional, to receive payment of the principal
of and interest, if any, on such Note on or after the respective due dates
thereof expressed in such Note or in this Indenture (or, in the case of
redemption, on or after the Redemption Date) and to institute suit for the
enforcement of any such payment, and such right shall not be impaired without
the consent of such Holder.

       

      SECTION
5.08.  Restoration of Rights and
Remedies.  If the Indenture Trustee or any Noteholder has
instituted any Proceeding to enforce any right or remedy under this Indenture
and such Proceeding has been discontinued or abandoned for any reason or has
been determined adversely to the Indenture Trustee or to such Noteholder, then
and in every such case the Issuing Entity, the Indenture Trustee and the
Noteholders shall, subject to any determination in such Proceeding, be restored
severally and respectively to their former positions hereunder, and thereafter
all rights and remedies of the Indenture Trustee and the Noteholders shall
continue as though no such Proceeding had been instituted.

       

      SECTION
5.09.  Rights and Remedies
Cumulative.  No right or remedy herein conferred upon or
reserved to the Indenture Trustee or to the Noteholders is intended to be
exclusive of any other right or remedy, and every right and remedy shall, to the
extent permitted by law, be cumulative and in addition to every other right and
remedy given hereunder or now or hereafter existing at law or in equity or
otherwise.  The assertion or employment of any right or remedy
hereunder, or otherwise, shall not prevent the concurrent assertion or
employment of any other appropriate right or remedy.

       

      SECTION
5.10.  Delay
or Omission Not a Waiver.  No delay or omission of the
Indenture Trustee or any Holder of any Note to exercise any right or remedy
accruing upon any Default or Event of Default shall impair any such right or
remedy or constitute a waiver of any such Default or Event of Default or an
acquiescence therein.  Every right and remedy given by 

       

      
        
          
          

        

        
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      this
Article V or by law to the Indenture Trustee or to the Noteholders may be
exercised from time to time, and as often as may be deemed expedient, by the
Indenture Trustee or by the Noteholders, as the case may be.

       

      SECTION
5.11.  Control by
Noteholders.  The Holders of a majority of the Outstanding
Amount of the Notes shall have the right to direct the time, method and place of
conducting any Proceeding for any remedy available to the Indenture Trustee with
respect to the Notes or exercising any trust or power conferred on the Indenture
Trustee; provided that

       

      (i)           such
direction shall not be in conflict with any rule of law or with this
Indenture;

       

      (ii)          subject
to the express terms of Section 5.04, any direction to the Indenture Trustee to
sell or liquidate the Trust Estate shall be by the Holders of Notes representing
not less than 100% of the Outstanding Amount of the Notes;

       

      (iii)         if
the conditions set forth in Section 5.05 have been satisfied and the Indenture
Trustee elects to retain the Trust Estate pursuant to such Section, then any
direction to the Indenture Trustee by Holders of Notes representing less than
100% of the Outstanding Amount of the Notes to sell or liquidate the Trust
Estate shall be of no force and effect; and

       

      (iv)         the
Indenture Trustee may take any other action deemed proper by the Indenture
Trustee that is not inconsistent with such direction;

       

      provided, however, that,
subject to Section 6.01, the Indenture Trustee need not take any action that it
determines might involve it in liability or might materially adversely affect
the rights of any Noteholders not consenting to such action.

       

      SECTION
5.12.  Waiver of Past
Defaults.  Prior to the declaration of the acceleration of the
maturity of the Notes as provided in Section 5.02, the Holders of Notes of not
less than a majority of the Outstanding Amount of the Notes may waive any past
Default or Event of Default and its consequences except a Default (a) in payment
of principal of or interest on any of the Notes or (b) in respect of a covenant
or provision hereof which cannot be modified or amended without the consent of
the Holder of each Note.  In the case of any such waiver, the Issuing
Entity, the Indenture Trustee and the Holders of the Notes shall be restored to
their former positions and rights hereunder, respectively; but no such waiver
shall extend to any subsequent or other Default or impair any right consequent
thereto.

       

      Upon any
such waiver, such Default shall cease to exist and be deemed to have been cured
and not to have occurred, and any Event of Default arising therefrom shall be
deemed to have been cured and not to have occurred, for every purpose of this
Indenture; but no such waiver shall extend to any subsequent or other Default or
Event of Default or impair any right consequent thereto.

       

      SECTION
5.13.  Undertaking for
Costs.  All parties to this Indenture agree, and each Holder of
any Note by such Holder’s acceptance thereof shall be deemed to have agreed,
that any court may in its discretion require, in any suit for the enforcement of
any right or 

       

      
        
          
          

        

        
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      remedy
under this Indenture, or in any suit against the Indenture Trustee for any
action taken, suffered or omitted by it as Indenture Trustee, the filing by any
party litigant in such suit of an undertaking to pay the costs of such suit, and
that such court may in its discretion assess reasonable costs, including
reasonable attorneys’ fees and expenses, against any party litigant in such
suit, having due regard to the merits and good faith of the claims or defenses
made by such party litigant; but the provisions of this Section shall not apply
to (a) any suit instituted by the Indenture Trustee, (b) any suit instituted by
any Noteholder, or group of Noteholders, in each case holding in the aggregate
more than 10% of the Outstanding Amount of the Notes or (c) any suit instituted
by any Noteholder for the enforcement of the payment of principal of or interest
on any Note on or after the respective due dates expressed in such Note and in
this Indenture (or, in the case of redemption, on or after the Redemption
Date).

       

      SECTION
5.14.  Waiver of Stay or Extension
Laws.  The Issuing Entity covenants (to the extent that it may
lawfully do so) that it will not at any time insist upon, or plead or in any
manner whatsoever, claim or take the benefit or advantage of, any stay or
extension law wherever enacted, now or at any time hereafter in force, that may
affect the covenants or the performance of this Indenture; and the Issuing
Entity (to the extent that it may lawfully do so) hereby expressly waives all
benefit or advantage of any such law, and covenants that it will not hinder,
delay or impede the execution of any power herein granted to the Indenture
Trustee, but will suffer and permit the execution of every such power as though
no such law had been enacted.

       

      SECTION
5.15.  Action on
Notes.  The Indenture Trustee’s right to seek and recover
judgment on the Notes or under this Indenture shall not be affected by the
seeking, obtaining or application of any other relief under or with respect to
this Indenture.  Neither the lien of this Indenture nor any rights or
remedies of the Indenture Trustee or the Noteholders shall be impaired by the
recovery of any judgment by the Indenture Trustee against the Issuing Entity or
by the levy of any execution under such judgment upon any portion of the Trust
Estate or upon any of the assets of the Issuing Entity.  Any money or
property collected by the Indenture Trustee shall be applied in accordance with
Section 5.04(b).

       

      SECTION
5.16.  Performance and Enforcement
of Certain Obligations.  (a)  Promptly following a
request from the Indenture Trustee to do so and at the Administrator’s expense,
the Issuing Entity agrees to take all such lawful action as the Indenture
Trustee may request to compel or secure the performance and observance by the
Seller and the Servicer, as applicable, of each of their obligations to the
Issuing Entity under or in connection with the Sale and Servicing Agreement or
to JDCC under or in connection with the Purchase Agreement in accordance with
the terms thereof, and to exercise any and all rights, remedies, powers and
privileges lawfully available to the Issuing Entity under or in connection with
the Sale and Servicing Agreement to the extent and in the manner directed by the
Indenture Trustee, including the transmission of notices of default on the part
of the Seller or the Servicer thereunder and the institution of legal or
administrative actions or proceedings to compel or secure performance by the
Seller or the Servicer of each of their obligations under the Sale and Servicing
Agreement.

       

      (b)           If
an Event of Default has occurred and is continuing, the Indenture Trustee at the
direction (which direction shall be in writing or by telephone (confirmed in
writing promptly thereafter)) of the Holders of 66-2/3% of the Outstanding
Amount of the Notes shall 

       

      
        
          
          

        

        
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      exercise
all rights, remedies, powers, privileges and claims of the Issuing Entity
against the Seller or the Servicer under or in connection with the Sale and
Servicing Agreement, including the right or power to take any action to compel
or secure performance or observance by the Seller or the Servicer of each of
their obligations to the Issuing Entity thereunder and to give any consent,
request, notice, direction, approval, extension or waiver under the Sale and
Servicing Agreement, and any right of the Issuing Entity to take such action
shall be suspended.

       

      (c)           Promptly
following a request from the Indenture Trustee to do so and at the
Administrator’s expense, the Issuing Entity agrees to take all such lawful
action as the Indenture Trustee may request to compel or secure the performance
and observance by JDCC of each of its obligations to the Seller under or in
connection with the Purchase Agreement in accordance with the terms thereof, and
to exercise any and all rights, remedies, powers and privileges lawfully
available to the Issuing Entity under or in connection with the Purchase
Agreement to the extent and in the manner directed by the Indenture Trustee,
including the transmission of notices of default on the part of the Seller
thereunder and the institution of legal or administrative actions or proceedings
to compel or secure performance by JDCC of each of its obligations under the
Purchase Agreement.

       

      (d)           If
an Event of Default has occurred and is continuing, the Indenture Trustee at the
direction (which direction shall be in writing or by telephone (confirmed in
writing promptly thereafter)) of the Holders of 66-2/3% of the Outstanding
Amount of the Notes shall exercise all rights, remedies, powers, privileges and
claims of the Seller against JDCC under or in connection with the Purchase
Agreement to the extent granted as security for the Notes hereunder, including
the right or power to take any action to compel or secure performance or
observance by JDCC of each of its obligations to the Seller thereunder and to
give any consent, request, notice, direction, approval, extension or waiver
under the Purchase Agreement, and any right of the Seller to take such action
shall be suspended.

       

      Notwithstanding
the foregoing, the Indenture Trustee shall have no duty or obligation to monitor
the Servicer’s, the Seller’s or JDCC’s performance of any of their obligations
under or in connection with the Sale and Servicing Agreement or the Purchase
Agreement.

       

      ARTICLE
VI

       

      THE
INDENTURE TRUSTEE

       

      SECTION
6.01.  Duties of Indenture
Trustee.  (a)  If an Event of Default has occurred
and is continuing, the Indenture Trustee shall exercise the rights and powers
vested in it by this Indenture and use the same degree of care and skill in
their exercise as a prudent person would exercise or use under the circumstances
in the conduct of such person’s own affairs.

       

      (b)           Except
during the continuance of an Event of Default:

       

      (i)           the
Indenture Trustee undertakes to perform such duties and only such duties as are
specifically set forth in this Indenture and no implied covenants or obligations
shall be read into this Indenture against the Indenture Trustee;
and

       

      
        
          
          

        

        
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      (ii)          in
the absence of bad faith on its part, the Indenture Trustee may conclusively
rely, as to the truth of the statements and the correctness of the opinions
expressed therein, upon certificates or opinions furnished to the Indenture
Trustee and conforming to the requirements of this Indenture; however, the
Indenture Trustee shall examine the certificates and opinions which by any
provision hereof are specifically required to be furnished to the Indenture
Trustee to determine whether or not they conform on their face to the
requirements of this Indenture, but need not confirm or investigate the accuracy
of any mathematical calculations or other facts stated therein.

       

      The
Indenture Trustee shall not be required to determine, confirm or recalculate the
information contained in the Servicer’s Certificate delivered to it pursuant to
the Sale and Servicing Agreement.

       

      (c)           The
Indenture Trustee may not be relieved from liability for its own negligent
action, its own negligent failure to act or its own wilful misconduct, except
that:

       

      (i)           this
paragraph does not limit the effect of paragraph (b) of this
Section;

       

      (ii)          the
Indenture Trustee shall not be liable for any error of judgment made in good
faith by a Responsible Officer unless it is proved that the Indenture Trustee
was negligent in ascertaining the pertinent facts; and

       

      (iii)         the
Indenture Trustee shall not be liable with respect to any action it takes or
omits to take in good faith in accordance with a direction received by it
pursuant to Section 5.11 or otherwise from Holders under the
Indenture.

       

      (d)           Every
provision of this Indenture that in any way relates to the Indenture Trustee is
subject to paragraphs (a), (b) and (c) of this Section.

       

      (e)           The
Indenture Trustee shall not be liable for interest on any money received by it
except as the Indenture Trustee may agree in writing with the Issuing
Entity.

       

      (f)           Money
held in trust by the Indenture Trustee need not be segregated from other funds
except to the extent required by law or the terms of this Indenture or the Sale
and Servicing Agreement.

       

      g)           No
provision of this Indenture shall require the Indenture Trustee to expend or
risk its own funds or otherwise incur financial liability in the performance of
any of its duties hereunder or in the exercise of any of its rights or powers,
if it shall have reasonable grounds to believe that repayments of such funds or
adequate indemnity satisfactory to it against such loss, liability or expense is
not reasonably assured to it.

       

      (h)           Every
provision of this Indenture relating to the conduct or affecting the liability
of or affording protection to the Indenture Trustee shall be subject to the
provisions of this Section and to the provisions of the TIA.

       

      
        
          
          

        

        
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      SECTION
6.02.  Rights of Indenture
Trustee.  (a)  The Indenture Trustee may rely on any
document believed by it to be genuine and to have been signed or presented by
the proper person.  The Indenture Trustee need not investigate any
fact or matter stated in the document.

       

      (b)           Before
the Indenture Trustee acts or refrains from acting, it may require an Officer’s
Certificate or an Opinion of Counsel.  The Indenture Trustee shall not
be liable for any action it takes or omits to take in good faith in reliance on
the Officer’s Certificate or Opinion of Counsel.

       

      (c)           The
Indenture Trustee may execute any of the trusts or powers hereunder or perform
any duties hereunder either directly or by or through agents or attorneys or a
custodian or nominee, and the Indenture Trustee shall not be responsible for any
misconduct or negligence on the part of, or for the supervision of, any such
agent, attorney, custodian or nominee appointed with due care by it
hereunder.

       

      (d)           The
Indenture Trustee shall not be liable for any action it takes or omits to take
in good faith which it believes to be authorized or within its rights or powers;
provided, however, that the
Indenture Trustee’s conduct does not constitute wilful misconduct, negligence or
bad faith.

       

      (e)           The
Indenture Trustee may consult with counsel of its selection, and the advice or
opinion of counsel with respect to legal matters relating to this Indenture and
the Notes shall be full and complete authorization and protection from liability
in respect to any action taken, omitted or suffered by it hereunder in good
faith and in accordance with the advice or opinion of such counsel.

       

      (f)           The
Indenture Trustee shall be under no obligation to exercise any of the rights or
powers vested in it by this Indenture at the request or direction of any of the
Holders pursuant to this Indenture, unless such Holders shall have offered to
the Indenture Trustee security or indemnity satisfactory to the Indenture
Trustee against the costs, expenses and liabilities which might be incurred by
it in compliance with such request or direction.

       

      (g)           The
Indenture Trustee shall not be deemed to have notice of any default or Event of
Default unless a Responsible Officer of the Indenture Trustee has actual
knowledge thereof or unless written notice of any event which is in fact such a
default is received by the Indenture Trustee at the Corporate Trust Office of
the Indenture Trustee, and such notice references the Notes and this
Indenture.

       

      (h)           The
rights, privileges, protections, immunities and benefits given to the Indenture
Trustee, including, without limitation, its right to be indemnified are extended
to, and shall be enforceable by, the Indenture Trustee in each of its capacities
hereunder, and to each agent, custodian and other Person employed to act
hereunder.

       

      (i)           In
no event shall the Indenture Trustee be responsible or liable for special,
indirect, or consequential loss or damage of any kind whatsoever (including, but
not limited to, loss of profit) irrespective of whether the Indenture Trustee
has been advised of the likelihood of such loss or damage and regardless of the
form of action.

       

      
        
          
          

        

        
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      SECTION
6.03.  Individual Rights of
Indenture Trustee.  The Indenture Trustee in its individual or
any other capacity may become the owner or pledgee of Notes and may otherwise
deal with the Issuing Entity or its affiliates with the same rights it would
have if it were not Indenture Trustee.  Any Paying Agent, Note
Registrar, co-registrar or co-paying agent may do the same with like
rights.  However, the Indenture Trustee must comply with Sections 6.10
and 6.11.

       

      SECTION
6.04.  Indenture Trustee’s
Disclaimer.  The Indenture Trustee shall not be responsible for
and makes no representation as to the validity or adequacy of the Trust Estate,
this Indenture or the Notes, it shall not be accountable for the Issuing
Entity’s use of the proceeds from the  Notes, and it shall not be
responsible for any statement of the Issuing Entity in the Indenture or in any
document issued in connection with the sale of the Notes or in the Notes other
than the Indenture Trustee’s certificate of authentication.

       

      SECTION
6.05.  Notice of
Defaults.  If a Default occurs and is continuing and if it is
actually known to a Responsible Officer of the Indenture Trustee, the Indenture
Trustee shall mail to each Noteholder notice of the Default within 90 days after
it occurs.  Except in the case of a Default in payment of principal of
or interest on any Note (including payments pursuant to the redemption
provisions of such Note), the Indenture Trustee may withhold the notice if and
so long as a committee of its Responsible Officers in good faith determines that
withholding the notice is in the interests of Noteholders; and provided that in
the case of any default of the character specified in Section 5.01(iii), no such
notice to Holders shall be given until at least 30 days after the occurrence
thereof.

       

      SECTION
6.06.  Reports by Indenture Trustee
to Holders.  The Indenture Trustee shall deliver to each
Noteholder such information as may be required to enable such holder to prepare
its federal and State income tax returns.  The Indenture Trustee shall
only be required to provide to the Noteholders the information given to it by
the Servicer.  The Indenture Trustee shall not be required to
determine, confirm or recompute any such information.

       

      SECTION
6.07.  Compensation and
Indemnity.  The Issuing Entity shall or shall cause the
Servicer (pursuant to the Sale and Servicing Agreement) to pay to the Indenture
Trustee from time to time reasonable compensation for its
services.  The Indenture Trustee’s compensation shall not be limited
by any law on compensation of a trustee of an express trust.  The
Issuing Entity shall or shall cause the Servicer (pursuant to the Sale and
Servicing Agreement) to reimburse the Indenture Trustee for all reasonable
out-of-pocket expenses incurred or made by it, including pursuant to Section
6.08 and costs of collection, in addition to the compensation for its services.
Such expenses shall include the reasonable compensation and expenses,
disbursements and advances of the Indenture Trustee’s agents, counsel,
accountants and experts.  The Issuing Entity shall or shall cause the
Servicer (pursuant to the Sale and Servicing Agreement) to indemnify the
Indenture Trustee against any and all loss, liability, claim, damage or expense
(including the fees of either in-house counsel or outside counsel, but not both)
incurred by it in connection with the administration of this trust and the
performance of its duties hereunder.  The Indenture Trustee shall
notify the Issuing Entity and the Servicer promptly of any  claim for
which it may seek indemnity.  Failure by the Indenture Trustee to so
notify the Issuing Entity and the Servicer shall not relieve the Issuing Entity
or the Servicer of its obligations hereunder.  The Issuing Entity
shall or shall cause the Servicer to defend the claim 

       

      
        
          
          

        

        
          40

          
            

          

        

        
          
          

        

      

       

      and the
Indenture Trustee may have separate counsel and the Issuing Entity shall or
shall cause the Servicer to pay the fees and expenses of such
counsel.  Neither the Issuing Entity nor the Servicer need reimburse
any expense or indemnify against any loss, liability or expense incurred by the
Indenture Trustee through the Indenture Trustee’s own wilful misconduct,
negligence or bad faith.

       

      The
Issuing Entity’s payment obligations to the Indenture Trustee pursuant to this
Section shall survive the discharge of this Indenture.  When the
Indenture Trustee incurs expenses after the occurrence of a Default specified in
Section 5.01(iv) or (v) with respect to the Issuing Entity, the expenses are
intended to constitute expenses of administration under the Bankruptcy Code or
any other applicable federal or State bankruptcy, insolvency or similar
law.

       

      SECTION
6.08.  Replacement of Indenture
Trustee.  No resignation or removal of the Indenture Trustee
and no appointment of a successor Indenture Trustee shall become effective until
the acceptance of appointment by the successor Indenture Trustee pursuant to
this Section 6.08.  The Indenture Trustee may resign at any time by so
notifying the Issuing Entity and the Depositor, and will provide all information
reasonably requested by the Depositor in order to comply with its reporting
obligation under Item 6.02 of Form 8-K with respect to the resignation of the
Indenture Trustee.  The Holders of a majority in Outstanding Amount of
the Notes may remove the Indenture Trustee by so notifying the Indenture Trustee
and the Depositor and may appoint a successor Indenture Trustee.  The
Issuing Entity shall remove the Indenture Trustee if:

       

      (i)           the
Indenture Trustee fails to comply with Section 6.11;

       

      (ii)          the
Indenture Trustee is adjudged a bankrupt or insolvent;

       

      (iii)         a
receiver or other public officer takes charge of the Indenture Trustee or its
property; or

       

      (iv)         the
Indenture Trustee otherwise becomes incapable of acting.

       

      The
Depositor may remove the Indenture Trustee if the Indenture Trustee fails to
comply with Section 3.07(e), Section 6.08 or Section 6.09 of the Indenture with
respect to notice to or providing information to the Depositor, or with Section
4.16 of the Sale and Servicing Agreement, in each case if such failure continues
for the lesser or 10 days or such period in which the applicable report required
to be filed under the Exchange Act can be filed timely (without taking into
account any extensions).

       

      If the
Indenture Trustee resigns or is removed or if a vacancy exists in the office of
Indenture Trustee for any reason (the Indenture Trustee in such event being
referred to herein as the retiring Indenture Trustee), the Issuing Entity
shall  promptly appoint a successor Indenture Trustee, which successor
shall be, if JDCC is the Servicer, reasonably acceptable to the
Seller.

       

      A
successor Indenture Trustee shall deliver a written acceptance of its
appointment to the retiring Indenture Trustee and to the Issuing Entity and
shall also provide all information reasonably requested by the Depositor in
order to comply with its reporting 

       

      
        
          
          

        

        
          41

          
            

          

        

        
          
          

        

      

       

      obligation
under the Exchange Act with respect to the replacement Indenture
Trustee.  Thereupon the resignation or removal of the retiring
Indenture Trustee shall become effective, and the successor Indenture Trustee
shall have all the rights, powers and duties of the Indenture Trustee under this
Indenture.  The successor Indenture Trustee shall mail a notice of its
succession to Noteholders.  The retiring Indenture Trustee shall
promptly transfer all property held by it as Indenture Trustee to the successor
Indenture Trustee.

       

      If a
successor Indenture Trustee does not take office within 60 days after the
retiring Indenture Trustee resigns or is removed, the retiring Indenture
Trustee, the Issuing Entity or the Holders of a majority in Outstanding Amount
of the Notes may petition any court of competent jurisdiction for the
appointment of a successor Indenture Trustee.

       

      If the
Indenture Trustee fails to comply with Section 6.11, any Noteholder may petition
any court of competent jurisdiction for the removal of the Indenture Trustee and
the appointment of a successor Indenture Trustee.

       

      Notwithstanding
the replacement of the Indenture Trustee pursuant to this Section, the Issuing
Entity’s and the Administrator’s obligations under Section 6.07 shall continue
for the benefit of the retiring Indenture Trustee.

       

      SECTION
6.09.  Successor Indenture Trustee
by Merger.  If the Indenture Trustee consolidates with, merges
or converts into, or transfers all or substantially all its corporate trust
business or assets to, another corporation or banking association, the
resulting, surviving or transferee corporation or banking association without
any further act shall be the successor Indenture Trustee.  The
Indenture Trustee shall provide the Rating Agencies and the Depositor prior
written notice of any such transaction, provided that such corporation or
banking association shall be otherwise qualified and eligible under Section
6.11.  The Indenture Trustee shall provide the Depositor with written
notice of such event no later than one (1) Business Day after the effective date
of such merger, together with the information reasonably requested by the
Depositor in order to comply with its reporting obligation under the Exchange
Act with respect to a successor Indenture Trustee.

       

      In case
at the time such successor or successors by merger, conversion or consolidation
to the Indenture Trustee shall succeed to the trusts created by this Indenture
any of the Notes shall have been authenticated but not delivered, any such
successor to the Indenture Trustee may adopt the certificate of authentication
of any predecessor trustee, and deliver such Notes so authenticated; and in case
at that time any of the Notes shall not have been authenticated, any successor
to the Indenture Trustee may authenticate such Notes either in the name of any
predecessor hereunder or in the name of the successor to the Indenture Trustee;
and in all such cases such certificates shall have the full force which it is
anywhere in the Notes or in this Indenture provided that the certificate of the
Indenture Trustee shall have.

       

      SECTION
6.10.  Appointment of Co-Trustee or
Separate Trustee.  (a)  Notwithstanding any other
provisions of this Indenture, at any time, for the purpose of meeting any legal
requirement of any jurisdiction in which any part of the Trust may at the time
be located, the Indenture Trustee shall have the power and may execute and
deliver all instruments to appoint one or more Persons reasonably acceptable to
the Issuing Entity to act as a co-trustee

       

      
        
          
          

        

        
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      or
co-trustees, or separate trustee or separate trustees, of all or any part of the
Trust, and to vest in such Person or Persons, in such capacity and for the
benefit of the Noteholders, such title to the Trust, or any part hereof, and,
subject to the other provisions of this Section, such powers, duties,
obligations, rights and trusts as the Indenture Trustee may consider necessary
or desirable.  No co-trustee or separate trustee hereunder shall be
required to meet the terms of eligibility as a successor trustee under Section
6.11 and no notice to Noteholders of the appointment of any co-trustee or
separate trustee shall be required under Section 6.08.

       

      (b)           Every
separate trustee and co-trustee shall, to the extent permitted by law, be
appointed and act subject to the following provisions and
conditions:

       

      (i)           all
rights, powers, duties and obligations conferred or imposed upon the Indenture
Trustee shall be conferred or imposed upon and exercised or performed by the
Indenture Trustee and such separate trustee or co-trustee jointly (it being
understood that such separate trustee or co-trustee is not authorized to act
separately without the Indenture Trustee joining in such act), except to the
extent that under any law of any jurisdiction in which any particular act or
acts are to be performed the Indenture Trustee shall be incompetent or
unqualified to perform such act or acts, in which event such rights, powers,
duties and obligations (including the holding of title to the Trust or any
portion thereof in any such jurisdiction) shall be exercised and performed
singly by such separate trustee or co-trustee, but solely at the direction of
the Indenture Trustee;

       

      (ii)          no
trustee hereunder shall be personally liable by reason of any act or omission of
any other trustee hereunder; and

       

      (iii)         the
Indenture Trustee may at any time accept the resignation of or remove any
separate trustee or co-trustee.

       

      (c)           Any
notice, request or other writing given to the Indenture Trustee shall be deemed
to have been given to each of the then separate trustees and co-trustees, as
effectively as if given to each of them.  Every instrument appointing
any separate trustee or co-trustee shall refer to this Agreement and the
conditions of this Article VI.  Each separate trustee and co-trustee,
upon its acceptance of the trusts conferred, shall be vested with the estates or
property specified in its instrument of appointment, either jointly with the
Indenture Trustee or separately, as may be provided therein, subject to all the
provisions of this Indenture, specifically including every provision of this
Indenture relating to the conduct of, affecting the liability of, or affording
protection to, the Indenture Trustee.  Every such instrument shall be
filed with the Indenture Trustee.

       

      (d)           Any
separate trustee or co-trustee may at any time constitute the Indenture Trustee,
its agent or attorney-in-fact with full power and authority, to the extent not
prohibited by law, to do any lawful act under or in respect of this Agreement on
its behalf and in its name.  If any separate trustee or co-trustee
shall die, become incapable of acting, resign or be removed, all of its estates,
properties, rights, remedies and trusts shall vest in and be exercised by the
Indenture Trustee, to the extent permitted by law, without the appointment of a
new or successor trustee.

       

      
        
          
          

        

        
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      SECTION
6.11.  Eligibility;
Disqualification. The Indenture Trustee shall at all times satisfy
the requirements of TIA § 310(a).  The Indenture Trustee shall have a
combined capital and surplus of at least $50,000,000 as set forth in its most
recent published annual report of condition and its long-term unsecured debt
shall be rated at least Baa3 by Moody’s.  The Indenture Trustee shall
comply with TIA § 310(b), including the optional provision permitted by the
second sentence of TIA § 310(b)(9); provided, however, that there shall be
excluded from the operation of TIA § 310(b)(1) any indenture or indentures under
which other securities of the Issuing Entity are outstanding if the requirements
for such exclusion set forth in TIA § 310(b)(1) are met.

       

      SECTION
6.12.  Preferential Collection of
Claims Against Issuing Entity.  The Indenture Trustee shall
comply with TIA § 311(a), excluding any creditor relationship listed in TIA §
311(b).  An indenture trustee who has resigned or been removed shall
be subject to TIA § 311(a) to the extent indicated.

       

      ARTICLE
VII

       

      NOTEHOLDERS’
LISTS AND REPORTS

       

      SECTION
7.01.  Issuing Entity To Furnish
Indenture Trustee Names and Addresses of Noteholders.  The
Issuing Entity will furnish or cause to be furnished to the Indenture Trustee
(a) not more than five days after the earlier of (i) each Record Date and (ii)
three months after the last Record Date, a list, in such form as the Indenture
Trustee may reasonably require, of the names and addresses of the Holders of
Notes as of such Record Date, (b) at such other times as the Indenture Trustee
may request in writing, within 30 days after receipt by the Issuing Entity of
any such request, a list of similar form and content as of a date not more than
10 days prior to the time such list is furnished; provided, however, that so
long as the Indenture Trustee is the Note Registrar, no such list shall be
required to be furnished.

       

      SECTION
7.02.  Preservation of Information;
Communications to Noteholders.  (a)  The Indenture
Trustee shall preserve, in as current a form as is reasonably practicable, the
names and addresses of the Holders of Notes contained in the most recent list
furnished to the Indenture Trustee as provided in Section 7.01 and the names and
addresses of Holders of Notes received by the Indenture Trustee in its capacity
as Note Registrar.  The Indenture Trustee may destroy any list
furnished to it as provided in such Section 7.01 upon receipt of a new list so
furnished.

       

      (b)           Noteholders
may communicate pursuant to TIA § 312(b) with other Noteholders with respect to
their rights under this Indenture or under the Notes.

       

      (c)           The
Issuing Entity, the Indenture Trustee and the Note Registrar shall have the
protection of TIA § 312(c).

       

      SECTION
7.03.  Reports by Issuing
Entity.  (a)  The Issuing Entity shall:

       

      (i)           file
with the Indenture Trustee, within 15 days after the Issuing Entity is required
to file the same with the Commission, copies of the annual reports and of the
information, documents and other reports (or copies of such portions of any of
the 

       

      
        
          
          

        

        
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      foregoing
as the Commission may from time to time by rules and regulations prescribe)
which the Issuing Entity may be required to file with the Commission pursuant to
Section 13 or 15(d) of the Exchange Act;

       

      (ii)          file
with the Indenture Trustee and the Commission in accordance with rules and
regulations prescribed from time to time by the Commission such additional
information, documents and reports with respect to compliance by the Issuing
Entity with the conditions and covenants of this Indenture as may be required
from time to time by such rules and regulations; and

       

      (iii)         supply
to the Indenture Trustee (and the Indenture Trustee shall transmit by mail to
all Noteholders described in TIA § 313(c)) such summaries of any information,
documents and reports required to be filed by the Issuing Entity pursuant to
clauses (i) and (ii) of this Section 7.03(a) as may be required by rules and
regulations prescribed from time to time by the Commission.

       

      The
Trustee shall have no obligation to confirm or investigate the accuracy of any
mathematical calculations or other facts stated in the reports provided pursuant
to this Section.

       

      (b)           Unless
the Issuing Entity otherwise determines, the fiscal year of the Issuing Entity
shall end on October 31 of each year.

       

      SECTION
7.04.  Reports by Indenture
Trustee.  If required by TIA § 313(a), within 60 days after
each February 1 beginning with February 1, 2010, the Indenture Trustee shall
mail to each Noteholder as required by TIA § 313(c) a brief report dated as of
such date that complies with TIA § 313(a).  The Indenture Trustee also
shall comply with TIA § 313(b).

       

      A copy of
each report at the time of its mailing to Noteholders shall be filed by the
Indenture Trustee with the Commission and each stock exchange, if any, on which
the Notes are listed.  The Issuing Entity shall notify the Indenture
Trustee if and when the Notes are listed on any stock exchange.

       

      ARTICLE
VIII

       

      ACCOUNTS,
DISBURSEMENTS AND RELEASES

       

      SECTION
8.01.  Collection of
Money.  Except as otherwise expressly provided herein, the
Indenture Trustee may demand payment or delivery of, and shall receive and
collect, directly and without intervention or assistance of any fiscal agent or
other intermediary, all money and other property payable to or receivable by the
Indenture Trustee pursuant to this Indenture.  The Indenture Trustee
shall apply all such money received by it as provided in this
Indenture.  Except as otherwise expressly provided in this Indenture,
if any default occurs in the making of any payment or performance under any
agreement or instrument that is part of the Trust Estate, the Indenture Trustee
may take such action as may be appropriate to enforce such payment or
performance, including the institution and prosecution of appropriate
Proceedings.  Any such action shall be without prejudice to any right
to claim a Default or Event of Default under this Indenture and any right to
proceed thereafter as provided in Article V.

       

      
        
          
          

        

        
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      SECTION
8.02.  Trust
Accounts.  (a)  On or prior to the Closing Date, the
Issuing Entity shall cause the Servicer to establish and maintain, in the name
of the Indenture Trustee, for the benefit of the Noteholders and the
Certificateholders, the Trust Accounts as provided in Section 5.01 of the Sale
and Servicing Agreement.

       

      (b)           Not
less than one Business Day prior to each Payment Date, the Total Distribution
Amount with respect to the preceding Collection Period will be deposited in the
Collection Account as provided in Section 5.02 of the Sale and Servicing
Agreement.  On or before each Payment Date, the Noteholders’
Distributable Amount with respect to the preceding Collection Period will be
transferred from the Collection Account, and/or the Reserve Account to the Note
Distribution Account as provided in Sections 5.04 and 5.05 of the Sale and
Servicing Agreement.

       

      (c)           Except
as otherwise provided in Section 5.04(b), on each Payment Date and Redemption
Date, the Indenture Trustee shall distribute all amounts on deposit in the Note
Distribution Account to Noteholders in respect of the Notes to the extent of
amounts due and unpaid on the Notes for principal and interest in the following
amounts and in the following order of priority:

       

      (i)           accrued
and unpaid interest on the Outstanding Amount of each class of Notes at the
applicable Note Interest Rate (such amount to be applied pro rata on the basis of the
total interest due on the Notes);

       

      (ii)          the
Note Monthly Principal Distributable Amount in the following order of
priority:

       

      (a)           to
the Class A-1 Noteholders on account of principal until the Outstanding Amount
of the Class A-1 Notes is reduced to zero; and

       

      (b)           to
the Class A-2 Noteholders on account of principal until the Outstanding Amount
of the Class A-2 Notes is reduced to zero; and

       

      (c)           to
the Class A-3 Noteholders on account of principal until the Outstanding Amount
of the Class A-3 Notes is reduced to zero; and

       

      (d)           to
the Class A-4 Noteholders on account of principal until the Outstanding Amount
of the Class A-4 Notes is reduced to zero.

       

      SECTION
8.03.  General Provisions Regarding
Accounts.  (a)  So long as no Default or Event of
Default shall have occurred and be continuing, all or a portion of the funds in
the Trust Accounts shall be invested in Eligible Investments and reinvested by
the Indenture Trustee upon Issuing Entity Order, subject to the provisions of
Section 5.01(b) of the Sale and Servicing Agreement.  All income or
other gain from investments of monies deposited in the Trust Accounts net of any
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      shall be
deposited by the Indenture Trustee in the Collection Account.  The
Issuing Entity will not direct the Indenture Trustee to make any investment of
any funds or to sell any investment held in any of the Trust Accounts unless the
security interest granted and perfected in such account will continue to be
perfected in such investment or the proceeds of such sale, in either case
without any further action by any Person, and, in connection with any direction
to the Indenture Trustee to make any such investment or sale, if requested by
the Indenture Trustee, the Issuing Entity shall deliver to the Indenture Trustee
an Opinion of Counsel, acceptable to the Indenture Trustee, to such
effect.

       

      (b)           Subject
to Section 6.01(c), the Indenture Trustee shall not in any way be held liable by
reason of any insufficiency in any of the Trust Accounts resulting from any loss
on any Eligible Investment included therein except for losses attributable to
the Indenture Trustee’s failure to make payments on such Eligible Investments
issued by the Indenture Trustee, in its commercial capacity as principal obligor
and not as Indenture Trustee, in accordance with their terms.

       

      (c)           If
(i) the Issuing Entity shall have failed to give investment directions for any
funds on deposit in the Trust Accounts to the Indenture Trustee by 12:00 noon
New York Time (or such other time as may be agreed by the Issuing Entity and
Indenture Trustee) on any Business Day or (ii) a Default or Event of Default
shall have occurred and be continuing with respect to the Notes but the Notes
shall not have been declared due and payable pursuant to Section 5.02, or, if
such Notes shall have been declared due and payable following an Event of
Default, amounts collected or receivable from the Trust Estate are being applied
in accordance with Section 5.05 as if there had not been such a declaration,
then the Indenture Trustee shall, to the fullest extent practicable, invest and
reinvest funds in the Trust Accounts in one or more Eligible Investments
referred to in paragraph (d) of the definition of Eligible
Investments.

       

      (d)           U.S.
Bank National Association in its capacity as “Securities Intermediary” with
respect to a Trust Account established pursuant to the Transaction Documents
agrees that (x) if it has or subsequently obtains by agreement, by operation of
law or otherwise, a security interest in a Trust Account or any financial asset
credited thereto, such security interest shall be subordinate to the security
interest of the Indenture Trustee in such Trust Account and any financial asset
credited thereto and (y) the financial assets and other items deposited to such
an Eligible Deposit Account will not be subject to deduction, set-off, banker’s
lien, or any other right in favor of any person other than the Indenture
Trustee.

       

      SECTION
8.04.  Release of Trust
Estate.  (a)  Subject to the payment of its fees and
expenses pursuant to Section 6.07, the Indenture Trustee may, and when required
by the provisions of this Indenture shall, execute instruments to release
property from the lien of this Indenture, or convey the Indenture Trustee’s
interest in the same, in a manner and under circumstances that are not
inconsistent with the provisions of this Indenture.  No party relying
upon an instrument executed by the Indenture Trustee as provided in this Article
VIII shall be bound to ascertain the Indenture Trustee’s authority, inquire into
the satisfaction of any conditions precedent or see to the application of any
monies.

       

      (b)           The
Indenture Trustee shall, at such time as there are no Notes Outstanding and all
sums due the Indenture Trustee pursuant to Section 6.07 have been paid,

       

      
        
          
          

        

        
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      release
any remaining portion of the Trust Estate that secured the Notes from the lien
of this Indenture and release to the Issuing Entity or any other Person entitled
thereto any funds then on deposit in the Trust Accounts.  The
Indenture Trustee shall release property from the lien of this Indenture
pursuant to this Section 8.04(b) only upon receipt of an Issuing Entity
Request  accompanied by an Officer’s Certificate, an Opinion of
Counsel and (if required by the TIA) Independent Certificates in accordance with
TIA §§ 314(c) and 314(d)(1) meeting the applicable requirements of Section
11.01.

       

      SECTION
8.05.  Opinion of
Counsel.  The Indenture Trustee shall receive at least seven
days’ notice when requested by the Issuing Entity to take any action pursuant to
Section 8.04(a), accompanied by copies of any instruments involved, and the
Indenture Trustee shall also require as a condition to such action, an Opinion
of Counsel stating the legal effect of any such action, outlining the steps
required to complete the same, and concluding that all conditions precedent to
the taking of such action have been complied with and such action will not
materially and adversely impair the security for the Notes or the rights of the
Noteholders in contravention of the provisions of this Indenture; provided,
however, that such Opinion of Counsel shall not be required to express an
opinion as to the fair value of the Trust Estate. Counsel rendering any such
opinion may rely, without independent investigation, on the accuracy and
validity of any certificate or other instrument delivered to the Indenture
Trustee in connection with any such action.

       

      ARTICLE
IX

       

      SUPPLEMENTAL
INDENTURES

       

      SECTION
9.01.  Supplemental Indentures
Without Consent of Noteholders.  (a)  Without the
consent of the Holders of any Notes but with prior notice to the Rating
Agencies, the Issuing Entity and the Indenture Trustee, when authorized by an
Issuing Entity Order, at any time and from time to time, may enter into one or
more indentures supplemental hereto, in form satisfactory to the Indenture
Trustee, for any of the following purposes:

       

      (i)           to
correct or amplify the description of any property at any time subject to the
lien of this Indenture, or better to assure, convey and confirm unto the
Indenture Trustee any property subject or required to be subjected to the lien
of this Indenture, or to subject to the lien of this Indenture additional
property;

       

      (ii)          to
evidence the succession, in compliance with the applicable provisions hereof, of
another person to the Issuing Entity, and the assumption by any such successor
of the covenants of the Issuing Entity herein and in the Notes
contained;

       

      (iii)         to
add to the covenants of the Issuing Entity, for the benefit of the Holders of
the Notes, or to surrender any right or power herein conferred upon the Issuing
Entity;

       

      (iv)         to
convey, transfer, assign, mortgage or pledge any property to or with the
Indenture Trustee;

       

      
        
          
          

        

        
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      (v)          to
cure any ambiguity, to correct or supplement any provision herein or in any
supplemental indenture which may be inconsistent with any other provision herein
or in any supplemental indenture or to make any other provisions with respect to
matters or questions arising under this Indenture or in any supplemental
indenture; provided that such action shall not, as evidenced by an Opinion of
Counsel, adversely affect in any material respect the interests of the Holders
of the Notes;

       

      (vi)         to
evidence and provide for the acceptance of the appointment hereunder by a
successor trustee with respect to the Notes and to add to or change any of the
provisions of this Indenture as shall be necessary to facilitate the
administration of the trusts hereunder by more than one trustee, pursuant to the
requirements of Article VI; or

       

      (vii)        to
modify, eliminate or add to the provisions of this Indenture to such extent as
shall be necessary to effect the qualification of this Indenture under the TIA
or under any similar federal statute hereafter enacted and to add to this
Indenture such other provisions as may be expressly required by the
TIA.

       

      The
Indenture Trustee is hereby authorized to join in the execution of any such
supplemental indenture and to make any further appropriate agreements and
stipulations that may be therein contained.

       

      (b)           The
Issuing Entity and the Indenture Trustee, when authorized by an Issuing Entity
Order, may, also without the consent of any of the Holders of the Notes but with
prior notice to the Rating Agencies, enter into an indenture or indentures
supplemental hereto for the purpose of adding any provisions to, or changing in
any manner or eliminating any of the provisions of, this Indenture or of
modifying in any manner the rights of the Holders of the Notes under this
Indenture;  provided, however, that such action shall not adversely
affect in any material respect the interests of any Noteholder; provided that 10
days’ prior written notice of any such indenture or supplement indenture hereto
be given to each Rating Agency and, if a Rating Agency notifies the Indenture
Trustee that such indenture or supplement indenture hereto will result in a
downgrading or withdrawal of the then current rating of any Class of the Notes
or the Certificate, such amendment shall become effective with the consent of
the Holders of Notes evidencing not less than a majority of the Outstanding
Amount of the Notes and the consent of the Certificateholder; provided that any
solicitation of such consent shall disclose the resulting downgrading or
withdrawal as a result of such amendment.

       

      SECTION
9.02.  Supplemental Indentures with
Consent of Noteholders.  The Issuing Entity and the Indenture
Trustee, when authorized by an Issuing Entity Order, also may, with prior notice
to the Rating Agencies and with the consent of the Holders of not less than a
majority of the Outstanding Amount of the Notes, by Act of such Holders
delivered to the Issuing Entity and the Indenture Trustee, enter into an
indenture or indentures supplemental hereto for the purpose of adding any
provisions to, or changing in any manner or eliminating any of the provisions
of, this Indenture or of modifying in any manner the rights of the Holders of
the Notes under this Indenture; provided, however, that no such supplemental
indenture shall, without the consent of the Holder of each Outstanding Note
affected thereby:

       

      
        
          
          

        

        
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      (i)           change
the date of payment of any installment of principal of or interest on any Note,
or reduce the principal amount thereof, the interest rate thereon or the
Redemption Price with respect thereto, change the provision of this Indenture
relating to the application of collections on, or the proceeds of the sale of,
the Trust Estate to payment of principal of or interest on the Notes, or change
any place of payment where, or the coin or currency in which, any Note or the
interest thereon is payable, or impair the right to institute suit for the
enforcement of the provisions of this Indenture requiring the application of
funds available therefor, as provided in Article V, to the payment of any such
amount due on the Notes on or after the respective due dates thereof (or, in the
case of redemption, on or after the Redemption Date);

       

      (ii)          reduce
the percentage of the Outstanding Amount of the Notes, the consent of the
Holders of which is required for any such supplemental indenture, or the consent
of the Holders of which is required for any waiver of compliance with certain
provisions of this Indenture or certain defaults hereunder and their
consequences provided for in this Indenture;

       

      (iii)         modify
or alter the provisions of the proviso to the definition of the term
“Outstanding”;

       

      (iv)         reduce
the percentage of the Outstanding Amount of the Notes required to direct the
Indenture Trustee to direct the Issuing Entity to sell or liquidate the Trust
Estate pursuant to Section 5.04;

       

      (v)          modify
any provision of this Section except to increase any percentage specified herein
or to provide that certain additional provisions of this Indenture or the Basic
Documents cannot be modified or waived without the consent of the Holder of each
Outstanding Note affected thereby;

       

      (vi)         modify
any of the provisions of this Indenture in such manner as to affect the
calculation of the amount of any payment of interest or principal due on any
Note on any Payment Date (including the calculation of any of the individual
components of such calculation) or to affect the rights of the Holders of Notes
to the benefit of any provisions for the mandatory redemption of the Notes
contained herein; or

       

      (vii)        permit
the creation of any lien ranking prior to or on a parity with the lien of this
Indenture with respect to any part of the Trust Estate or, except as otherwise
permitted or contemplated herein, terminate the lien of this Indenture on any
property at any time subject hereto or deprive the Holder of any Note of the
security provided by the lien of this Indenture.

       

      The
Indenture Trustee may in its discretion determine whether or not any Notes would
be affected by any supplemental indenture and any such determination shall be
conclusive upon the Holders of all Notes, whether theretofore or thereafter
authenticated and delivered hereunder.  The Indenture Trustee shall
not be liable for any such determination made in good faith.

       

      
        
          
          

        

        
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      It shall
not be necessary for any Act of Noteholders under this Section to approve the
particular form of any proposed supplemental indenture, but it shall be
sufficient if such Act shall approve the substance thereof.

       

      Promptly
after the execution by the Issuing Entity and the Indenture Trustee of any
supplemental indenture pursuant to this Section, the Indenture Trustee shall
mail to the Holders of the Notes to which such amendment or supplemental
indenture relates a notice setting forth in general terms the substance of such
supplemental indenture or a copy of such supplemental indenture.  Any
failure of the  Indenture Trustee to mail such notice, or any defect
therein, shall not, however, in any way impair or affect the validity of any
such supplemental indenture.

       

      SECTION
9.03.  Execution of Supplemental
Indentures.  In executing, or permitting the additional trusts
created by, any supplemental indenture permitted by this Article IX or the
modifications thereby of the trusts created by this Indenture, the Indenture
Trustee shall be provided with, and subject to Sections 6.01 and 6.02, shall be
fully protected in relying upon, an Opinion of Counsel stating that the
execution of such supplemental indenture is authorized or permitted by this
Indenture.  The Indenture Trustee may, but shall not be obligated to,
enter into any such supplemental indenture that affects the Indenture Trustee’s
own rights, duties, liabilities or immunities under this Indenture or
otherwise.

       

      SECTION
9.04.  Effect of Supplemental
Indenture.  Upon the execution of any supplemental indenture
pursuant to the provisions hereof, this Indenture shall be and be deemed to be
modified and amended in accordance therewith with respect to the Notes affected
thereby, and the respective rights, limitations of rights, obligations, duties,
liabilities and immunities under this Indenture of the Indenture Trustee, the
Issuing Entity and the Holders of the Notes shall thereafter be determined,
exercised and enforced hereunder subject in all respects to such modifications
and amendments, and all the terms and conditions of any such supplemental
indenture shall be and be deemed to be part of the terms and conditions of this
Indenture for any and all purposes.

       

      SECTION
9.05.  Conformity with Trust
Indenture Act.  Every amendment of this Indenture and every
supplemental indenture executed pursuant to this Article IX shall conform to the
requirements of the Trust Indenture Act as then in effect so long as this
Indenture shall then be qualified under the Trust Indenture Act.

       

      SECTION
9.06.  Reference in Notes to
Supplemental Indentures.  Notes authenticated and delivered
after the execution of any supplemental indenture pursuant to this Article IX
may, and if required by the Indenture Trustee shall, bear a notation in form
approved by the Indenture Trustee as to any matter provided for in such
supplemental indenture.  If the Issuing Entity or the Indenture
Trustee shall so determine, new Notes so modified as to conform, in
the  opinion of the Indenture Trustee and the Issuing Entity, to any
such supplemental indenture may be prepared and executed by the Issuing Entity
and authenticated and delivered by the Indenture Trustee in exchange for
Outstanding Notes.

       

      
        
          
          

        

        
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      ARTICLE
X

       

      REDEMPTION
OF NOTES

       

      SECTION
10.01.  Redemption.  (a)  The
Notes are subject to redemption in whole, but not in part, at the written
direction of the Servicer pursuant to Section 9.01(a) of the Sale and Servicing
Agreement, on any Payment Date, following the last day of a Collection Period as
of which the Pool Balance is 10% or less of the Initial Pool Balance, for a
purchase price equal to the Redemption Price; provided, however, that the
Issuing Entity has available funds sufficient to pay the Redemption
Price.  The Servicer or the Issuing Entity shall furnish the Rating
Agencies notice of such redemption.  If the Notes are to be redeemed
pursuant to this Section 10.01(a), the Servicer or the Issuing Entity shall
furnish notice of such election to the Indenture Trustee not later than 25 days
prior to the Redemption Date and the Issuing Entity shall deposit with the
Indenture Trustee in the Note Distribution Account the Redemption Price of the
Notes to be redeemed whereupon all such Notes shall be due and payable on the
Redemption Date upon the furnishing of a notice complying with Section 10.02 to
each Holder of the Notes.

       

      (b)           In
the event that the assets of the Trust are sold pursuant to Section 9.02 of the
Trust Agreement, all amounts on deposit in the Note Distribution Account shall
be paid to the Noteholders up to the Outstanding Amount of the Notes and all
accrued and unpaid interest thereon.  If amounts are to be paid to
Noteholders pursuant to this Section 10.01(b), the Servicer or the Issuing
Entity shall, to the extent practicable, furnish notice of such event to the
Indenture Trustee not later than 25 days prior to the Redemption Date whereupon
all such amounts shall be payable on the Redemption Date.

       

      SECTION
10.02.  Form
of Redemption Notice.  (a)  Notice of redemption
under Section 10.01(a) shall be given by the Indenture Trustee by first-class
mail, postage prepaid, mailed not less than five days prior to the applicable
Redemption Date to each Holder of Notes, as of the close of business on the
Record Date preceding the applicable Redemption Date, at such Holder’s address
appearing in the Note Register.

       

      All
notices of redemption shall state:

       

      (i)           the
Redemption Date;

       

      (ii)          the
Redemption Price;

       

      (iii)         the
place where such Notes are to be surrendered for payment of the Redemption Price
(which shall be the office or agency of the Issuing Entity to be maintained as
provided in Section 3.02); and

       

      (iv)         the
CUSIP number.

       

      Notice of
redemption of the Notes shall be given by the Indenture Trustee in the name and
at the expense of the Issuing Entity.  Failure to give notice of
redemption, or any defect therein, to any Holder of any Note shall not impair or
affect the validity of the redemption of any other Note.

       

      
        
          
          

        

        
          52

          
            

          

        

        
          
          

        

      

       

      (b)           Prior
notice of redemption under Section 10.01(b) is not required to be given to
Noteholders.

       

      SECTION
10.03.  Notes Payable on Redemption
Date.  The Notes or portions thereof to be redeemed shall,
following notice of redemption as required by Section 10.02 (in the case of
redemption pursuant to Section 10.01(a)), on the Redemption Date become due and
payable at the Redemption Price and (unless the Issuing Entity shall default in
the payment of the Redemption Price) no interest shall accrue on the Redemption
Price for any period after the date to which accrued interest is calculated for
purposes of calculating the Redemption Price.

       

      ARTICLE
XI

       

      MISCELLANEOUS

       

      SECTION
11.01.  Compliance Certificates and
Opinions, etc.  (a)  Upon any application or request
by the Issuing Entity to the Indenture Trustee to take any action under any
provision of this Indenture, the Issuing Entity shall furnish to the Indenture
Trustee (i) an Officer’s Certificate stating that all conditions precedent, if
any, provided for in this Indenture relating to the proposed action have been
complied with, (ii) an Opinion of Counsel stating that in the opinion of such
counsel all such conditions precedent, if any, have been complied with and (iii)
(if required by the TIA) an Independent Certificate from a firm of certified
public accountants meeting the applicable requirements of this Section, except
that, in the case of any such application or request as to which the furnishing
of such documents is specifically required by any provision of this Indenture,
no additional certificate or opinion need be furnished.

       

      Every
certificate or opinion with respect to compliance with a condition or covenant
provided for in this Indenture shall include:

       

      (i)           a
statement that each signatory of such certificate or opinion has read or has
caused to be read such covenant or condition and the definitions herein relating
thereto;

       

      (ii)          a
brief statement as to the nature and scope of the examination or investigation
upon which the statements or opinions contained in such certificate or opinion
are based;

       

      (iii)         a
statement that, in the opinion of each such signatory, such signatory has made
such examination or investigation as is necessary to enable such signatory to
express an informed opinion as to whether or not such covenant or condition has
been complied with; and

       

      (iv)         a
statement as to whether, in the opinion of each such signatory, such condition
or covenant has been complied with.

       

      (b)           (i)  Prior
to the deposit of any Collateral or other property or securities with the
Indenture Trustee that is to be made the basis for the release of any property
or securities subject to the lien of this Indenture, the Issuing Entity shall,
in addition to any obligation imposed in Section 11.01(a) or elsewhere in this
Indenture, furnish to the Indenture 

       

      
        
          
          

        

        
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      Trustee
an Officer’s Certificate certifying or stating the opinion of each person
signing such certificate as to the fair value (within 90 days of such deposit)
to the Issuing Entity of the Collateral or other property or securities to be so
deposited.

       

      (ii)          Whenever
the Issuing Entity is required to furnish to the Indenture Trustee an Officer’s
Certificate certifying or stating the opinion of any signer thereof as to the
matters described in clause (i) above, the Issuing Entity shall also deliver to
the Indenture Trustee an Independent Certificate as to the  same
matters, if the fair value to the Issuing Entity of the securities to be so
deposited and of all other such securities made the basis of any such withdrawal
or release since the commencement of the then-current fiscal year of the Issuing
Entity, as set forth in the certificates delivered pursuant to clause (i) above
and this clause (ii), is 10% or more of the Outstanding Amount of the Notes, but
such a certificate need not be furnished with respect to any securities so
deposited, if the fair value thereof to the Issuing Entity as set forth in the
related Officer’s Certificate is less than $25,000 or less than one percent of
the Outstanding Amount of the Notes.

       

      (iii)         Other
than with respect to the release of any Purchased Receivables or Liquidated
Receivables, whenever any property or securities are to be released from the
lien of this Indenture, the Issuing Entity shall also furnish to the Indenture
Trustee an Officer’s Certificate certifying or stating the opinion of each
person signing such certificate as to the fair value (within 90 days of such
release) of the property or securities proposed to be released and stating that
in the opinion of such person the proposed release will not impair the security
under this Indenture in contravention of the provisions hereof.

       

      (iv)         Whenever
the Issuing Entity is required to furnish to the Indenture Trustee an Officer’s
Certificate certifying or stating the opinion of any signer thereof as to the
matters described in clause (iii) above, the Issuing Entity shall also furnish
to the Indenture Trustee an Independent Certificate as to the same matters if
the fair value of the property or securities and of all other property other
than Purchased Receivables and Liquidated Receivables, or securities released
from the lien of this Indenture since the commencement of the then current
calendar year, as set forth in the certificates required by clause (iii) above
and this clause (iv), equals 10% or more of the Outstanding Amount of the Notes,
but such certificate need not be furnished in the case of any release of
property or securities if the fair value thereof as set forth in the related
Officer’s Certificate is less than $25,000 or less than one percent of the then
Outstanding Amount of the Notes.

       

      (v)           Notwithstanding
Section 2.09, Section 3.10(b) or any other provision of this Section, the
Issuing Entity may (A) collect, liquidate, sell or otherwise dispose of
Receivables as and to the extent permitted or required by the Basic Documents
and (B) make cash payments out of the Trust Accounts as and to the extent
permitted or required by the Basic Documents.

       

      SECTION
11.02.  Form
of Documents Delivered to Indenture Trustee.  In any case where
several matters are required to be certified by, or covered by an opinion of,
any specified Person, it is not necessary that all such matters be certified by,
or covered by the 

       

      
        
          
          

        

        
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      opinion
of, only one such Person, or that they be so certified or covered by only one
document, but one such Person may certify or give an opinion with respect to
some matters and one or more other such Persons as to other matters, and any
such Person may certify or give an opinion as to such matters in one or several
documents.

       

      Any
certificate or opinion of an Authorized Officer of the Issuing Entity may be
based, insofar as it relates to legal matters, upon a certificate or opinion of,
or representations by, counsel, unless such officer knows, or in the exercise of
reasonable care should know, that the certificate or opinion or representations
with respect to the matters upon which his certificate or opinion is based are
erroneous.  Any such certificate of an Authorized Officer or Opinion
of Counsel may be based, insofar as it relates to factual matters, upon a
certificate or opinion of, or representations by, an officer or officers of the
Servicer, the Seller, the Issuing Entity or the Administrator, stating that the
information with respect to such factual matters is in the possession of the
Servicer, the Seller, the Issuing Entity or the Administrator, unless such
counsel knows, or in the exercise of reasonable care should know, that the
certificate or opinion or representations with respect to such matters are
erroneous.

       

      Where any
Person is required to make, give or execute two or more applications, requests,
consents, certificates, statements, opinions or other instruments under this
Indenture, they may, but need not, be consolidated and form one
instrument.

       

      Whenever
in this Indenture, in connection with any application or certificate or report
to the Indenture Trustee, it is provided that the Issuing Entity shall deliver
any document as a condition of the granting of such application, or as evidence
of the Issuing Entity’s compliance with any term hereof, it is intended that the
truth and accuracy, at the time of the granting of such application or at the
effective date of such certificate or report (as the case may be), of the facts
and opinions stated in such document shall in such case be conditions precedent
to the right of the Issuing Entity to have such application granted or to the
sufficiency of such certificate or report.  The foregoing shall not,
however, be  construed to affect the Indenture Trustee’s right to rely
upon the truth and accuracy of any statement or opinion contained in any such
document as provided in Article VI.

       

      SECTION
11.03.  Acts
of Noteholders.  (a)  Any request, demand,
authorization, direction, notice, consent, waiver or other action provided by
this Indenture to be given or taken by Noteholders may be embodied in and
evidenced by one or more instruments of substantially similar tenor signed by
such Noteholders in person or by agents duly appointed in writing; and except as
herein otherwise expressly provided such action shall become effective when such
instrument or instruments are delivered to the Indenture Trustee, and, where it
is hereby expressly required, to the Issuing Entity.  Such instrument
or instruments (and the action embodied therein and evidenced thereby) are
herein sometimes referred to as the “Act” of the Noteholders signing such
instrument or instruments.  Proof of execution of any such instrument
or of a writing appointing any such agent shall be sufficient for any purpose of
this Indenture and (subject to Section 6.01) conclusive in favor of the
Indenture Trustee and the Issuing Entity, if made in the manner provided in this
Section.

       

      (b)           The
fact and date of the execution by any person of any such instrument or writing
may be proved in any manner that the Indenture Trustee deems
sufficient.

       

      
        
          
          

        

        
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      (c)           The
ownership of Notes shall be proved by the Note Register.

       

      (d)           Any
request, demand, authorization, direction, notice, consent, waiver or other
action by the Holder of any Notes shall bind the Holder of every Note issued
upon the registration thereof or in exchange therefor or in lieu thereof, in
respect of anything done, omitted or suffered to be done by the Indenture
Trustee or the Issuing Entity in reliance thereon, whether or not notation of
such action is made upon such Note.

       

      SECTION
11.04.  Notices, etc., to Indenture
Trustee, Issuing Entity and Rating Agencies.  Any request,
demand, authorization, direction, notice, consent, waiver or Act of Noteholders
or other documents provided or permitted by this Indenture to be made upon,
given or furnished to or filed with:

       

      (a)           the
Indenture Trustee by any Noteholder or by the Issuing Entity shall be sufficient
for every purpose hereunder if made, given, furnished or filed in writing, or
sent by facsimile, to or with the Indenture Trustee and received at its
Corporate Trust Office, or

       

      (b)           the
Issuing Entity by the Indenture Trustee or by any Noteholder shall be sufficient
for every purpose hereunder if in writing and mailed, first-class, postage
prepaid, or sent by facsimile, to the Issuing Entity addressed
to:  John Deere Owner Trust 2009, in care of BNY Mellon Trust of
Delaware, 100 White Clay Center, Route 273, Newark, Delaware 19711, Attention:
Kristine K. Gullo, Vice President, facsimile No.: (212) 815-4329, or at any
other address previously furnished in writing to the Indenture Trustee by the
Issuing Entity.  The Issuing Entity shall promptly transmit any notice
received by it from the Noteholders to the Indenture Trustee.

       

      Notices
required to be given to the Rating Agencies by the Issuing Entity, the Indenture
Trustee or the Owner Trustee shall be in writing, personally delivered or mailed
by certified mail, return receipt requested to (i) in the case of Moody’s, at
the following address:  Moody’s Investors Service, Inc., ABS
Monitoring Department, 99 Church Street, New York, New York 10007 and (ii) in
the case of Standard & Poor’s, at the following address:  Standard
& Poor’s Ratings Services, 55 Water Street, New York, New York 10041,
Attention of Asset Backed Surveillance Department or as to each of the
foregoing, at such other address as shall be designated by written notice to the
other parties.

       

      SECTION
11.05.  Notices to Noteholders;
Waiver.  Where this Indenture provides for notice to
Noteholders of any event, such
notice shall be sufficiently given (unless otherwise herein expressly provided)
if in writing and mailed, first-class, postage prepaid to each Noteholder
affected by such event, at his address as it appears on the Note Register, not
later than the latest date, and not earlier than the earliest date, prescribed
for the giving of such notice.  In any case where notice to
Noteholders is given by mail, neither the failure to mail such notice nor any
defect in any notice so mailed to any particular Noteholder shall affect the
sufficiency of such notice with respect to other Noteholders, and any notice
that is mailed in the manner herein provided shall conclusively be presumed to
have been duly given.

         

        Where
this Indenture provides for notice in any manner, such notice may be waived in
writing by any Person entitled to receive such notice, either before or after
the event, 

      

       

      
        
          
          

        

        
          56

          
            

          

        

        
          
          

        

      

       

      and  such
waiver shall be the equivalent of such notice.  Waivers of notice by
Noteholders shall be filed with the Indenture Trustee but such filing shall not
be a condition precedent to the validity of any action taken in reliance upon
such a waiver.

       

      In case,
by reason of the suspension of regular mail service as a result of a strike,
work stoppage or similar activity, it shall be impractical to mail notice of any
event to Noteholders when such notice is required to be given pursuant to any
provision of this Indenture, then any manner of giving such notice as shall be
satisfactory to the Indenture Trustee shall be deemed to be a sufficient giving
of such notice.

       

      Where
this Indenture provides for notice to the Rating Agencies, failure to give such
notice shall not affect any other rights or obligations created hereunder, and
shall not under any circumstance constitute a Default or Event of
Default.

       

      SECTION
11.06.  Alternate Payment and Notice
Provisions.  Notwithstanding any provision of this Indenture or
any of the Notes to the contrary, to the extent satisfactory to the Indenture
Trustee, the Issuing Entity may enter into any agreement with any Holder of a
Note providing for a method of payment, or notice by the Indenture Trustee or
any Paying Agent to such Holder, that is different from the methods provided for
in this Indenture for such payments or notices.  The Issuing Entity
will furnish to the Indenture Trustee a copy of each such agreement and the
Indenture Trustee will cause payments to be made and notices to be given in
accordance with such agreements.

       

      SECTION
11.07.  Conflict with Trust
Indenture Act.  If any provision hereof limits, qualifies or
conflicts with another provision hereof that is required to be included in this
indenture by any of the provisions of the Trust Indenture Act, such required
provision shall control.

       

      The
provisions of TIA §§ 310 through 317 that impose duties on any person (including
the provisions automatically deemed included herein unless expressly excluded by
this Indenture) are a part of and govern this Indenture, whether or not
physically contained herein.

       

      SECTION
11.08.  Effect of Headings and Table
of Contents.  The Article and Section headings herein and the
Table of Contents are for convenience only and shall not affect the construction
hereof.

       

      SECTION
11.09.  Successors and
Assigns.  All covenants and agreements in this Indenture and
the Notes by the Issuing Entity shall bind its successors and assigns, whether
so expressed or not.

       

      All
agreements of the Indenture Trustee in this Indenture shall bind its successors,
co-trustees and agents of the Indenture Trustee.

       

      SECTION
11.10.  Separability.  In
case any provision in this Indenture or in the Notes shall be invalid, illegal
or unenforceable, the validity, legality, and enforceability of the remaining
provisions shall not in any way be affected or impaired thereby.

       

      
        
          
          

        

        
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      SECTION
11.11.  Benefits of
Indenture.  Nothing in this Indenture or in the Notes, express
or implied, shall give to any Person, other than the parties hereto and their
successors hereunder, and the Noteholders, and any other party secured
hereunder, and any other Person with an ownership interest in any part of the
Trust Estate, any benefit or any legal or equitable right, remedy or claim under
this Indenture.

       

      SECTION
11.12.  Legal
Holidays.  In any case where the date on which any payment is
due shall not be a Business Day, then (notwithstanding any other provision of
the Notes or this Indenture) payment need not be made on such date, but may be
made on the next succeeding Business Day with the same force and effect as if
made on the date on which nominally due.

       

      SECTION
11.13.  GOVERNING
LAW.  THIS INDENTURE SHALL BE CONSTRUED IN ACCORDANCE WITH THE
LAWS OF THE STATE OF NEW YORK.

       

      SECTION
11.14.  Counterparts.  This
Indenture may be executed in any number of counterparts, each of which so
executed shall be deemed to be an original, but all such counterparts shall
together constitute but one and the same instrument.

       

      SECTION
11.15.  Recording of
Indenture.  If this Indenture is subject to recording in any
appropriate public recording offices, such recording is to be effected by the
Issuing Entity and at its expense accompanied by an Opinion of Counsel (which
may be counsel to the Indenture Trustee or any other counsel reasonably
acceptable to the Indenture Trustee) to the effect that such recording is
necessary either for the protection of the Noteholders or any other Person
secured hereunder or for the enforcement of any right or remedy granted to the
Indenture Trustee under this Indenture.

       

      SECTION
11.16.  Trust
Obligation.  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 this Indenture or any certificate or
other writing delivered in connection herewith or therewith, against (i) the
Indenture Trustee or the Owner Trustee in their individual capacity, (ii) any
owner of a beneficial interest in the Issuing Entity or (iii) any partner,
owner, beneficiary, agent, officer, director, employee or agent of the Indenture
Trustee or the Owner Trustee in their individual capacity, 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 their individual capacity, except as any such Person may have
expressly agreed (it being understood that the Indenture Trustee and the Owner
Trustee have no such obligations in their individual capacity) 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 any failure to pay any installment or call owing to such
entity.  For all purposes of this Indenture, in the performance of any
duties or obligations of the Issuing Entity hereunder, the Owner Trustee shall
be subject to, and entitled to the benefits of, the terms and provisions of
Articles VI, VII and VIII of the Trust Agreement.

       

      SECTION
11.17.  No
Petition.  The Indenture Trustee, by entering into this
Indenture, and each Noteholder, by accepting a Note, hereby covenant and agree
that, prior to the end of the period that is one year and one day after there
has been paid in full all debt issued by 

       

      
        
          
          

        

        
          58

          
            

          

        

        
          
          

        

      

       

      any
securitization vehicle in respect of which the Seller holds any interest, they
will not institute against the Seller or the Trust, or join in, or assist or
encourage others to institute, any institution against the Seller or the Trust
of, any bankruptcy, reorganization, arrangement, insolvency or liquidation
proceedings, or other proceedings under any United States federal or State
bankruptcy or similar law.

       

      SECTION
11.18.  Subordination
Agreement.  Each Noteholder, by accepting a Note, hereby
covenants and agrees that, to the extent it is deemed to have any interest in
any assets of the Seller, or a securitization vehicle related to the Seller,
dedicated to other debt obligations of the Seller or debt obligations of any
other securitization vehicle related to the Seller, its interest in those assets
is subordinate to claims or rights of such other debtholders to those other
assets.  Furthermore, each Noteholder, by accepting a Note, hereby
covenants and agrees that such agreement constitutes a subordination agreement
for purposes of Section 510(a) of the Bankruptcy Code.

       

      SECTION
11.19.  No
Recourse.  Notwithstanding any provisions herein to the
contrary, all of the obligations of the Issuing Entity under or in connection
with the Notes and this Indenture are nonrecourse obligations of the Issuing
Entity payable solely from the Collateral and following realization of the
Collateral and its reduction to zero, any claims of the Noteholders and the
Indenture Trustee against the Issuing Entity shall be extinguished and shall not
thereafter revive.  It is understood that the foregoing provisions of
this Section 11.19 shall not (i) prevent recourse to the Collateral for the sums
due or to become due under any security, instrument or agreement which is part
of the Collateral or (ii) constitute a waiver, release or discharge of any
indebtedness or obligation evidenced by the Notes or secured by this Indenture
(to the extent it relates to the obligation to make payments on the Notes) until
such Collateral has been realized and reduced to zero, whereupon any outstanding
indebtedness or obligation in respect of the Notes shall be extinguished and
shall not thereafter revive.  It is further understood that the
foregoing provisions of this Section 11.19 shall not limit the right of any
Person to name the Issuing Entity as a party defendant in any Proceeding or in
the exercise of any other remedy under the Notes or this Indenture, so long as
no judgment in the nature of a deficiency judgment shall be asked for or (if
obtained) enforced against any such Person or entity.

       

      SECTION
11.20.  Inspection.  The
Issuing Entity agrees that, on reasonable prior notice, it will permit any
representative of the Indenture Trustee, during the Issuing Entity’s normal
business hours, to examine all the books of account, records, reports, and other
papers of the Issuing Entity, to make copies and extracts therefrom, to cause
such books to be audited by independent certified public accountants, and to
discuss the Issuing Entity’s affairs, finances and accounts with the Issuing
Entity’s officers, employees, and independent certified public accountants, all
at such reasonable times and as often as may be reasonably
requested.  The Indenture Trustee shall and shall cause its
representatives to hold in confidence all such information except to the extent
disclosure may be required by law (and all reasonable applications for
confidential treatment are unavailing) and except to the extent that the
Indenture Trustee may reasonably determine that such disclosure is consistent
with its obligations hereunder.

       

      SECTION
11.21.  Limitation of
Liability.  It is expressly understood that (a) this Indenture
is executed and delivered by BNY Mellon Trust of Delaware, not individually or

       

      
        
          
          

        

        
          59

          
            

          

        

        
          
          

        

      

       

      personally
but solely as Owner Trustee, in the exercise of the powers and authority
conferred and vested in it under the Trust Agreement, dated as of June 1, 2009
(the “Trust Agreement”), between John Deere Receivables, Inc. and BNY Mellon
Trust of Delaware, (b) each of the representations, undertakings and agreements
herein made on the part of the Issuing Entity is made and intended not as
personal representations, undertakings and agreements by BNY Mellon Trust of
Delaware, but is made and intended for the purpose for binding only the Issuing
Entity and (c) under no circumstances shall BNY Mellon Trust of Delaware be
personally liable for the breach or failure of any obligation, representation,
warranty or covenant made or undertaken by the Issuing Entity under this
Indenture or the other related documents.

       

       

       

       

       

       

       

       

       

      
        
          
          

        

        
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      IN
WITNESS WHEREOF, the Issuing Entity and the Indenture Trustee have caused this
Indenture to be duly executed by their respective officers, thereunto duly
authorized, all as of the day and year first above written.

       

      
        
           

          
            	 	JOHN
      DEERE OWNER TRUST 2009	 
	 	 	 
	 	By: 	
                    BNY
      MELLON TRUST OF DELAWARE,

                    not
      in its individual capacity but solely
      as 

                    Owner
      Trustee,

                  	 
	 	 	 	 
	 	 	 	 	 
	 	By:	/s/
      Kristine K. Gullo 	 
	 	 	Name: 
      	Kristine K.
      Gullo	 
	 	 	Title: 
      	Vice
    President	 
	 	 	 	 	 

          

        

         

        
           

        

        
          
            
              
                
                  
                    
                      
                        	 	
                                U.S.
      BANK NATIONAL ASSOCIATION, 

                                not
      in its individual capacity but solely as 

                                Indenture
      Trustee and with respect to Section 

                                8.03(d)
      as Securities Itnermediary,

                              	 
	 	 	 
	 	 	 	 	 
	 	By:	/s/
      Melissa A. Rosal	 
	 	 	Name: 
      	Melissa A.
      Rosal	 
	 	 	Title: 
      	Vice
    President	 
	 	 	 	 	 

                      

                    

                     

                  

                

              

            

          

        

      

       

       

       

       

      
        
          
          

        

        
          61

          
            

          

        

        
          
          

        

      

      EXHIBIT
A

       

      Schedule of
Receivables

       

       

      [To be
delivered to the Trust at Closing]

       

       

       

       

       

       

       

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      EXHIBIT
B

       

      [Form of Sale and Servicing
Agreement]

       

       

       

       

       

       

       

       

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      EXHIBIT
C

       

      [Form of Depository
Agreement]

       

       

       

       

       

       

       

       

       

       

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      EXHIBIT
D

      
         

        
          	Registered 	
                  $233,600,000

                

        

         

      

      No.
R

       

      SEE
REVERSE FOR CERTAIN DEFINITIONS

       

      

       

      CUSIP NO.
477874 AA9

       

      [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 in 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
PRINCIPAL OF THIS NOTE IS PAYABLE IN INSTALLMENTS

      AS SET
FORTH HEREIN.  ACCORDINGLY, THE OUTSTANDING

      PRINCIPAL
AMOUNT OF THIS NOTE AT ANY TIME MAY BE LESS

      THAN THE
AMOUNT SHOWN ON THE FACE HEREOF.

       

      JOHN
DEERE OWNER TRUST 2009

       

      1.13155%
ASSET BACKED NOTES,

      CLASS
A-1

       

      John
Deere Owner Trust 2009, a statutory trust organized and existing 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, the
principal sum of TWO HUNDRED AND THIRTY-THREE MILLION SIX HUNDRED THOUSAND
DOLLARS payable on each Payment Date in an amount equal to the result obtained
by multiplying (i) a fraction the numerator of which is $233,600,000 and the
denominator of which is $233,600,000 by (ii) the aggregate amount, if any,
payable from the Note Distribution Account in respect of principal of the Class
A-1 Notes pursuant to Section 8.02(c) of the Indenture; provided, however, that the
entire unpaid principal amount of this Note shall be due and payable on the
earlier of July 2, 2010 and the Redemption Date, if any, pursuant to Section
10.01(a) of the Indenture.  The Issuing Entity will pay interest on
this Note at the Class A-1 Note Interest Rate on each Payment Date until the
principal of this Note is paid or made available for payment, on the principal
amount of this Note outstanding on the preceding Payment Date after giving
effect to all payments of principal made on such preceding Payment Date (or on
the initial principal amount of this Note from and including June 9, 2009 in the
case of the first Payment Date).  Interest on this Note will accrue
for each Payment Date from and including the most recent Payment Date (or, if no
interest has yet been paid on this Note, from and including June 9, 2009) to but
excluding such Payment Date.  For the avoidance of doubt, if any Class
A-1 Notes are outstanding after the Payment Date in June 2010, interest on the
Class A-1 Notes will accrue 

       

      
        
          
          

        

        
          D-1

          
            

          

        

        
          
          

        

      

       

      from and
including the Payment Date in June 2010 to but excluding the Special Payment
Date.  Interest will be computed on the basis of the actual number of
days in the period for which such interest is payable divided by
360.  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 or obligatory for any purpose.

       

      
        
          
          

        

        
          D-2

          
            

          

        

        
          
          

        

      

       

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

       

      
        
           

          
            	Date: 	JOHN
      DEERE OWNER TRUST 2009,	 
	 	 	 
	 	By: 	
                    BNY
      MELLON TRUST OF DELAWARE,

                    not
      in its individual capacity but solely
      as 

                    Owner
      Trustee under the Trust Agreement,

                  	 
	 	 	 	 
	 	 	 	 	 
	 	By:	 	 
	 	 	Name: 
      	 	 
	 	 	Title: 
      	 	 
	 	 	 	 	 

          

        

         

      

       

      TRUSTEE’S
CERTIFICATE OF AUTHENTICATION

       

      This is
one of the Notes designated above and referred to in the within-mentioned
Indenture.

       

      
        
          
            	 	
                    U.S.
      BANK NATIONAL ASSOCIATION, 

                    not
      in its individual capacity 

                    but
      solely as Indenture Trustee,

                  	 
	 	 	 	 
	 	 	 	 	 
	 	By:	 	 
	 	 	

                    Authorized
      Signatory 

                  	 
	 	 	 	 	 

          

        

         

         

         

        
          
            
            

          

          
            D-3

            
              

            

          

          
            
            

          

        

         

      

      [REVERSE
OF NOTE]

       

      This Note
is one of the Class A-1 Notes of a duly authorized issue of Notes of the Issuing
Entity, designated as its Asset Backed Notes, all issued under an Indenture
dated as of June 1, 2009 (such indenture, as supplemented or amended, is herein
called the “Indenture”), between the Issuing Entity and U.S. Bank National
Association, as indenture trustee (the “Indenture Trustee”, which term includes
any successor indenture trustee under the Indenture), to which Indenture and all
indentures supplemental thereto 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.  All terms used in this Note that are
defined in the Indenture, as supplemented or amended, shall have the meanings
assigned to them in or pursuant to the Indenture, as so supplemented or
amended.

       

      The Notes
are and will be equally and ratably secured by the collateral pledged as
security therefor as provided in the Indenture.

       

      Principal
of the Notes will be payable on each Payment Date in an amount described on the
face hereof.

       

      As
described above, the entire unpaid principal amount of, together with accrued
and unpaid interest on, this Note shall be due and payable on the earlier of
July 2, 2010 and the Redemption Date, if any, pursuant to Section 10.01(a) of
the Indenture.  Notwithstanding the foregoing, the entire unpaid
principal amount of the Notes shall be due and payable on the date on which an
Event of Default shall have occurred and be continuing and the Indenture Trustee
or the Holders of the Notes representing not less than a majority of the
Outstanding Amount of the Notes have declared the Notes to be immediately due
and payable in the manner provided in Section 5.02 of the
Indenture.  All principal payments on the Notes of a Class shall be
made pro rata to the Noteholders of such Class entitled thereto.

       

      Payments
of interest on this Note due and payable on each Payment Date, together with the
installment of principal, if any, to the extent not in full payment of this
Note, shall be made by check mailed to the Person whose name appears as the
Registered Holder of this Note (or one or more Predecessor Notes) on the Note
Register as of the close of business on each Record Date, except that with
respect to Notes registered on the Record Date in the name of the nominee of the
Clearing Agency (initially, such nominee to be Cede & Co.), payments will be
made by wire transfer in immediately available funds to the account designated
by such nominee.  Such checks shall be mailed to the Person entitled
thereto at the address of such Person as it appears on the Note Register as of
the applicable Record Date without requiring that this Note be submitted for
notation of payment.  Any reduction in the principal amount of this
Note (or any one or more Predecessor Notes) effected by any payments made on any
Payment Date shall be binding upon all future Holders of this Note and of any
Note issued upon the registration of transfer hereof or in exchange hereof or in
lieu hereof, whether or not noted hereon.  If funds are expected to be
available, as provided in the Indenture, for payment in full of the then
remaining unpaid principal amount of this Note on a Payment Date, then the
Indenture Trustee, in the name of and on behalf of the Issuing Entity, will
notify the Person who was the Registered Holder hereof as of the Record Date
preceding such Payment Date by notice mailed within five days of such Payment
Date and the amount then due and payable shall be payable 

       

      
        
          
          

        

        
          D-4

          
            

          

        

        
          
          

        

      

       

      only upon
presentation and surrender of this Note at the Indenture Trustee’s principal
Corporate Trust Office or at the office of the Indenture Trustee’s agent
appointed for such purposes located in The City of New York.

       

      The
Issuing Entity shall pay interest on overdue installments of interest at a rate
per annum equal to the sum of (i) the Class A-1 Note Interest Rate and (ii)
1.0%, to the extent lawful.

       

      As
provided in the Indenture, the Notes may be redeemed in whole, but not in part,
at the option of the Servicer, on any Payment Date, following the last day of a
Collection Period as of which the Pool Balance is 10% or less of the Initial
Pool Balance.

       

      As
provided in the Indenture and subject to certain limitations set forth therein,
the transfer of this Note may be registered on the Note Register upon surrender
of this Note for registration of transfer at the office or agency designated by
the Issuing Entity pursuant to the Indenture, duly endorsed by, or accompanied
by a written instrument of transfer in form satisfactory to the Indenture
Trustee duly executed by, the Holder hereof or his attorney duly authorized in
writing, with such signature guaranteed and such other documents as the
Indenture Trustee may require, and thereupon one or more new Notes of authorized
denominations and in the same aggregate principal amount will be issued to the
designated transferee or transferees.  No service charge will be
charged for any registration of transfer or exchange of this Note, but the
transferor may be required to pay a sum sufficient to cover any tax or other
governmental charge that may be imposed in connection with any such registration
of transfer or exchange.

       

      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 their individual
capacity, (ii) any owner of a beneficial interest in the Issuing Entity or (iii)
any partner, owner, beneficiary, agent, officer, director or employee of the
Indenture Trustee or the Owner Trustee in their individual capacity, 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 their 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 prior to the
end of the period that is one year and one day after there has been paid in full
all debt issued by any securitization vehicle in respect of which the Seller
holds any interest, they will not institute against the Seller or the Trust, or
join in, or assist or encourage others to institute, any institution against the
Seller or the Trust of, any bankruptcy, reorganization, arrangement, insolvency
or liquidation proceedings, or other proceedings under any United States federal
or State bankruptcy or similar law.

       

      
        
          
          

        

        
          D-5

          
            

          

        

        
          
          

        

      

       

      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 shall 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 be
overdue, and neither the Issuing Entity, the Indenture Trustee nor any such
agent shall be affected by notice to the contrary.

       

      The
Indenture permits, with certain exceptions as therein provided, the amendment
thereof and the modification of the rights and obligations of the Issuing Entity
and the rights of the Holders of the Notes under the Indenture at any time by
the Issuing Entity with the consent of the Holders of Notes representing a
majority of the Outstanding Amount of all Notes at the time
Outstanding.  The Indenture also contains provisions permitting the
Holders of Notes representing specified percentages of the Outstanding Amount of
the Notes, on behalf of the Holders of all the Notes, to waive compliance by the
Issuing Entity with certain provisions of the Indenture and certain past
defaults under the Indenture and their consequences.  Any such consent
or waiver by the Holder of this Note (or any one or more Predecessor Notes)
shall be conclusive and binding upon such Holder and upon all future Holders of
this Note and of any Note issued upon the registration of transfer hereof or in
exchange hereof or in lieu hereof whether or not notation of such consent or
waiver is made upon this Note.  The Indenture also permits the
Indenture Trustee to amend or waive certain terms and conditions set forth in
the Indenture without the consent of Holders of the Notes issued
thereunder.

       

      The
Issuing Entity has entered into the Indenture and this Note is issued with the
intention that, for federal, State and local income and franchise tax purposes,
the Notes will qualify as indebtedness secured by the
Collateral.  Each Noteholder, by its acceptance of a Note (and each
Note Owner by its acceptance of a beneficial interest in a Note), will be deemed
to agree to treat the Notes for federal, State and local income and franchise
tax purposes as indebtedness.

       

      The term
“Issuing Entity” as used in this Note includes any successor to the Issuing
Entity under the Indenture.

       

      The
Issuing Entity is permitted by the Indenture, under certain circumstances, to
merge or consolidate, subject to the rights of the Indenture Trustee and the
Holders of Notes under the Indenture.

       

      The Notes
are issuable only in registered form in denominations as provided in the
Indenture, subject to certain limitations therein set forth.

       

      This Note
and the Indenture shall be construed in accordance with the laws of the State of
New York and the obligations, rights and remedies of the parties hereunder and
thereunder shall be determined in accordance with such laws.

       

      No
reference herein to the Indenture and no provision of this Note or of the
Indenture 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.

       

      
        
          
          

        

        
          D-6

          
            

          

        

        
          
          

        

      

       

      Anything
herein to the contrary notwithstanding, except as expressly provided in the
Basic Documents, neither BNY Mellon Trust of Delaware in its individual
capacity, U.S. Bank National Association, in its individual capacity, any owner
of a beneficial interest in the Issuing Entity, nor any of their respective
partners, beneficiaries, agents, officers, directors, employees or successors or
assigns shall be personally liable for, nor shall recourse be had to any of them
for, the payment of principal of or interest on, or performance of, or omission
to perform, any of the covenants, obligations or indemnifications contained in
this Note or the Indenture, it being expressly understood that said covenants,
obligations and indemnifications have been made by the Owner Trustee for the
sole purposes of binding the interests of the Owner Trustee in the assets of the
Issuing Entity.  The Holder of this Note by the acceptance hereof
agrees that except as expressly provided in the Basic Documents, in the case of
an Event of Default under the Indenture, the Holder shall have no claim against
any of the foregoing for any deficiency, loss or claim therefrom; provided,
however, that nothing contained herein shall be taken to prevent recourse to,
and enforcement against, the assets of the Issuing Entity for any and all
liabilities, obligations and undertakings contained in the Indenture or in this
Note.

       

       

       

       

      
        
          
          

        

        
          D-7

          
            

          

        

        
          
          

        

      

       

      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:________________________________

                      	
                        _____________________________________NOTE:

                        The
      signature to this assignment must correspond with the name of the
      registered owner as it appears on the face of the within Note in every
      particular, without alteration, enlargement or any change
      whatsoever.

                         

                         

                      
	 
      	
                        Signature
      Guaranteed:

                         

                         

                         

                      
	 
      	 
      
	 
      	
                        Signatures
      must be guaranteed by an “eligible guarantor institution” meeting the
      requirements of the Indenture Trustee which requirements will include
      membership or participation in STAMP or such other “signature guarantee
      program” as may be determined by the Indenture Trustee in addition to, or
      in substitution for, STAMP, all in accordance with the Securities Exchange
      Act of 1934, as amended.

                      
	 
      	 
      

              

            

          

        

      

       

      
 

      
        
          
          

        

        
          D-8

          
            

          

        

        
          
          

        

      

       

      EXHIBIT
E

       

      
        
          
            	REGISTERED	
                    $50,000,000

                  

          

           

        

      

      No.
R

       

      SEE
REVERSE FOR CERTAIN DEFINITIONS

       

      CUSIP NO.
477874 AB7

       

      [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 in 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
PRINCIPAL OF THIS NOTE IS PAYABLE IN INSTALLMENTS

      AS SET
FORTH HEREIN.  ACCORDINGLY, THE OUTSTANDING

      PRINCIPAL
AMOUNT OF THIS NOTE AT ANY TIME MAY BE LESS

      THAN THE
AMOUNT SHOWN ON THE FACE HEREOF.

       

      JOHN
DEERE OWNER TRUST 2009

       

      1.96%
ASSET BACKED NOTES,

      CLASS
A-2

       

      John
Deere Owner Trust 2009, a statutory trust organized and existing 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, the
principal sum of FIFTY MILLION DOLLARS payable on each Payment Date in an amount
equal to the result obtained by multiplying (i) a fraction the numerator of
which is $50,000,000 and the denominator of which is $50,000,000 by (ii) the
aggregate amount, if any, payable from the Note Distribution Account in respect
of principal of the Class A-2 Notes pursuant to Section 8.02(c) of the
Indenture; provided, however, that the
entire unpaid principal amount of this Note shall be due and payable on the
earlier of September 15, 2011 and the Redemption Date, if any, pursuant to
Section 10.01(a) of the Indenture.  Except as provided in the
Indenture, no payments of principal of the Class A-2 Notes shall be made until
the principal of the Class A-1 Notes has been paid in its
entirety.  The Issuing Entity will pay interest on this Note at the
Class A-2 Note Interest Rate on each Payment Date until the principal of this
Note is paid or made available for payment, on the principal amount of this Note
outstanding on the preceding Payment Date after giving effect to all payments of
principal made on such preceding Payment Date (or on the initial principal
amount of this Note from and including June 9, 2009 in the case of the first
Payment Date).  Interest on this Note will accrue for each Payment
Date from and including the 15th day of the month preceding such Payment Date
(or, from and including, June 9, 2009 in the case of the first 

       

      
        
          
          

        

        
          E-1

          
            

          

        

        
          
          

        

      

       

      Payment
Date) to and including the 14th day of the month of such Payment
Date.  Interest will be computed on the basis of a 360-day year
consisting of twelve 30-day months.  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 or obligatory for any purpose.

       

      
        
          
          

        

        
          E-2

          
            

          

        

        
          
          

        

      

       

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

      
        
          
             

            
              	Date: 	JOHN
      DEERE OWNER TRUST 2009,	 
	 	 	 
	 	By: 	
                      BNY
      MELLON TRUST OF DELAWARE,

                      not
      in its individual capacity but solely
      as 

                      Owner
      Trustee under the Trust Agreement,

                    	 
	 	 	 	 
	 	 	 	 	 
	 	By:	 	 
	 	 	Name: 
      	 	 
	 	 	Title: 
      	 	 
	 	 	 	 	 

            

          

           

        

         

        TRUSTEE’S
CERTIFICATE OF AUTHENTICATION

         

        This is
one of the Notes designated above and referred to in the within-mentioned
Indenture.

         

        
          
            
              	 	
                      U.S.
      BANK NATIONAL ASSOCIATION, 

                      not
      in its individual capacity 

                      but
      solely as Indenture Trustee,

                    	 
	 	 	 	 
	 	 	 	 	 
	 	By:	 	 
	 	 	

                      Authorized
      Signatory 

                    	 
	 	 	 	 	 

            

          

           

           

           

          
            
              
              

            

            
              E-3

              
                

              

            

            
              
              

            

          

        

      

       

      [REVERSE
OF NOTE]

       

      This Note
is one of the Class A-2 Notes of a duly authorized issue of Notes of the Issuing
Entity, designated as its Asset Backed Notes, all issued under an Indenture
dated as of June 1, 2009 (such indenture, as supplemented or amended, is herein
called the “Indenture”), between the Issuing Entity and U.S. Bank National
Association, as indenture trustee (the “Indenture Trustee”, which term includes
any successor indenture trustee under the Indenture), to which Indenture and all
indentures supplemental thereto 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.  All terms used in this Note that are
defined in the Indenture, as supplemented or amended, shall have the meanings
assigned to them in or pursuant to the Indenture, as so supplemented or
amended.

       

      The Notes
are and will be equally and ratably secured by the collateral pledged as
security therefor as provided in the Indenture.

       

      Principal
of the Notes will be payable on each Payment Date in an amount described on the
face hereof.

       

      As
described above, the entire unpaid principal amount of, together with accrued
and unpaid interest on, this Note shall be due and payable on the earlier of
September 15, 2011 and the Redemption Date, if any, pursuant to Section 10.01(a)
of the Indenture.  Notwithstanding the foregoing, the entire unpaid
principal amount of the Notes shall be due and payable on the date on which an
Event of Default shall have occurred and be continuing and the Indenture Trustee
or the Holders of the Notes representing not less than a majority of the
Outstanding Amount of the Notes have declared the Notes to be immediately due
and payable in the manner provided in Section 5.02 of the
Indenture.  All principal payments on the Notes of a Class shall be
made pro rata to the Noteholders of such Class entitled thereto.

       

      Payments
of interest on this Note due and payable on each Payment Date, together with the
installment of principal, if any, to the extent not in full payment of this
Note, shall be made by check mailed to the Person whose name appears as the
Registered Holder of this Note (or one or more Predecessor Notes) on the Note
Register as of the close of business on each Record Date, except that with
respect to Notes registered on the Record Date in the name of the nominee of the
Clearing Agency (initially, such nominee to be Cede & Co.), payments will be
made by wire transfer in immediately available funds to the account designated
by such nominee.  Such checks shall be mailed to the Person entitled
thereto at the address of such Person as it appears on the Note Register as of
the applicable Record Date without requiring that this Note be submitted for
notation of payment.  Any reduction in the principal amount of this
Note (or any one or more Predecessor Notes) effected by any payments made on any
Payment Date shall be binding upon all future Holders of this Note and of any
Note issued upon the registration of transfer hereof or in exchange hereof or in
lieu hereof, whether or not noted hereon.  If funds are expected to be
available, as provided in the Indenture, for payment in full of the then
remaining unpaid principal amount of this Note on a Payment Date, then the
Indenture Trustee, in the name of and on behalf of the Issuing Entity, will
notify the Person who was the Registered Holder hereof as of the Record Date
preceding such Payment Date by notice mailed within five days of such Payment
Date and the amount then due and payable shall be payable 

       

      
        
          
          

        

        
          E-4

          
            

          

        

        
          
          

        

      

       

      only upon
presentation and surrender of this Note at the Indenture Trustee’s principal
Corporate Trust Office or at the office of the Indenture Trustee’s agent
appointed for such purposes located in The City of New York.

       

      The
Issuing Entity shall pay interest on overdue installments of interest at a rate
per annum equal to the sum of (i) the Class A-2 Note Interest Rate and (ii)
1.0%, to the extent lawful.

       

      As
provided in the Indenture, the Notes may be redeemed in whole, but not in part,
at the option of the Servicer, on any Payment Date, following the last day of a
Collection Period as of which the Pool Balance is 10% or less of the Initial
Pool Balance.

       

      As
provided in the Indenture and subject to certain limitations set forth therein,
the transfer of this Note may be registered on the Note Register upon surrender
of this Note for registration of transfer at the office or agency designated by
the Issuing Entity pursuant to the Indenture, duly endorsed by, or accompanied
by a written instrument of transfer in form satisfactory to the Indenture
Trustee duly executed by, the Holder hereof or his attorney duly authorized in
writing, with such signature guaranteed and such other documents as the
Indenture Trustee may require, and thereupon one or more new Notes of authorized
denominations and in the same aggregate principal amount will be issued to the
designated transferee or transferees.  No service charge will be
charged for any registration of transfer or exchange of this Note, but the
transferor may be required to pay a sum sufficient to cover any tax or other
governmental charge that may be imposed in connection with any such registration
of transfer or exchange.

       

      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 their individual
capacity, (ii) any owner of a beneficial interest in the Issuing Entity or (iii)
any partner, owner, beneficiary, agent, officer, director or employee of the
Indenture Trustee or the Owner Trustee in their individual capacity, 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 their 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 prior to the
end of the period that is one year and one day after there has been paid in full
all debt issued by any securitization vehicle in respect of which the Seller
holds any interest, they will not institute against the Seller or the Trust, or
join in, or assist or encourage others to institute, any institution against the
Seller or the Trust of, any bankruptcy, reorganization, arrangement, insolvency
or liquidation proceedings, or other proceedings under any United States federal
or State bankruptcy or similar law.

       

      
        
          
          

        

        
          E-5

          
            

          

        

        
          
          

        

      

       

      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 shall 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 be
overdue, and neither the Issuing Entity, the Indenture Trustee nor any such
agent shall be affected by notice to the contrary.

       

      The
Indenture permits, with certain exceptions as therein provided, the amendment
thereof and the modification of the rights and obligations of the Issuing Entity
and the rights of the Holders of the Notes under the Indenture at any time by
the Issuing Entity with the consent of the Holders of Notes representing a
majority of the Outstanding Amount of all Notes at the time
Outstanding.  The Indenture also contains provisions permitting the
Holders of Notes representing specified percentages of the Outstanding Amount of
the Notes, on behalf of the Holders of all the Notes, to waive compliance by the
Issuing Entity with certain provisions of the Indenture and certain past
defaults under the Indenture and their consequences.  Any such consent
or waiver by the Holder of this Note (or any one or more Predecessor Notes)
shall be conclusive and binding upon such Holder and upon all future Holders of
this Note and of any Note issued upon the registration of transfer hereof or in
exchange hereof or in lieu hereof whether or not notation of such consent or
waiver is made upon this Note.  The Indenture also permits the
Indenture Trustee to amend or waive certain terms and conditions set forth in
the Indenture without the consent of Holders of the Notes issued
thereunder.

       

      The
Issuing Entity has entered into the Indenture and this Note is issued with the
intention that, for federal, State and local income and franchise tax purposes,
the Notes will qualify as indebtedness secured by the
Collateral.  Each Noteholder, by its acceptance of a Note (and each
Note Owner by its acceptance of a beneficial interest in a Note), will be deemed
to agree to treat the Notes for federal, State and local income and franchise
tax purposes as indebtedness.

       

      The term
“Issuing Entity” as used in this Note includes any successor to the Issuing
Entity under the Indenture.

       

      The
Issuing Entity is permitted by the Indenture, under certain circumstances, to
merge or consolidate, subject to the rights of the Indenture Trustee and the
Holders of Notes under the Indenture.

       

      The Notes
are issuable only in registered form in denominations as provided in the
Indenture, subject to certain limitations therein set forth.

       

      This Note
and the Indenture shall be construed in accordance with the laws of the State of
New York and the obligations, rights and remedies of the parties hereunder and
thereunder shall be determined in accordance with such laws.

       

      No
reference herein to the Indenture and no provision of this Note or of the
Indenture 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.

       

      
        
          
          

        

        
          E-6

          
            

          

        

        
          
          

        

      

       

      Anything
herein to the contrary notwithstanding, except as expressly provided in the
Basic Documents, neither BNY Mellon Trust of Delaware in its individual
capacity, U.S. Bank National Association, in its individual capacity, any owner
of a beneficial interest in the Issuing Entity, nor any of their respective
partners, beneficiaries, agents, officers, directors, employees or successors or
assigns shall be personally liable for, nor shall recourse be had to any of them
for, the payment of principal of or interest on, or performance of, or omission
to perform, any of the covenants, obligations or indemnifications contained in
this Note or the Indenture, it being expressly understood that said covenants,
obligations and indemnifications have been made by the Owner Trustee for the
sole purposes of binding the interests of the Owner Trustee in the assets of the
Issuing Entity.  The Holder of this Note by the acceptance hereof
agrees that except as expressly provided in the Basic Documents, in the case of
an Event of Default under the Indenture, the Holder shall have no claim against
any of the foregoing for any deficiency, loss or claim therefrom; provided, however, that nothing
contained herein shall be taken to prevent recourse to, and enforcement against,
the assets of the Issuing Entity for any and all liabilities, obligations and
undertakings contained in the Indenture or in this Note.

       

       

       

       

       

       

      
        
          
          

        

        
          E-7

          
            

          

        

        
          
          

        

      

       

      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: _____________________________

                  	
                    ______________________________________________NOTE:

                    The
      signature to this assignment must correspond with the name of the
      registered owner as it appears on the face of the within Note in every
      particular, without alteration, enlargement or any change
      whatsoever.

                     

                     

                  
	 
      	
                    Signature
      Guaranteed:

                     

                     

                     

                  
	 
      	 
      
	 
      	
                    Signatures
      must be guaranteed by an “eligible guarantor institution” meeting the
      requirements of the Indenture Trustee which requirements will include
      membership or participation in STAMP or such other “signature guarantee
      program” as may be determined by the Indenture Trustee in addition to, or
      in substitution for, STAMP, all in accordance with the Securities Exchange
      Act of 1934, as amended.

                     

                  
	 
      	 
      

          

        

      

       

       

       

      
        
          
          

        

        
          E-8

          
            

          

        

        
          
          

        

      

      
 

      EXHIBIT
F

      
         

        
          
            
              	REGISTERED	
                      $309,000,000

                    

            

          

        

      

       

      No.
R

       

      SEE
REVERSE FOR CERTAIN DEFINITIONS

       

      CUSIP NO.
477874 AC5

       

      [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 in 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
PRINCIPAL OF THIS NOTE IS PAYABLE IN INSTALLMENTS

      AS SET
FORTH HEREIN.  ACCORDINGLY, THE OUTSTANDING

      PRINCIPAL
AMOUNT OF THIS NOTE AT ANY TIME MAY BE LESS

      THAN THE
AMOUNT SHOWN ON THE FACE HEREOF.

      

       

      JOHN
DEERE OWNER TRUST 2009

       

      2.59%
ASSET BACKED NOTES,

      CLASS
A-3

       

      John
Deere Owner Trust 2009, a statutory trust organized and existing 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, the
principal sum of THREE HUNDRED AND NINE MILLION DOLLARS payable on each Payment
Date in an amount equal to the result obtained by multiplying (i) a fraction the
numerator of which is $309,000,000 and the denominator of which is $309,000,000
by (ii) the aggregate amount, if any, payable from the Note Distribution Account
in respect of principal of the Class A-3 Notes pursuant to Section 8.02(c) of
the Indenture; provided, however, that the
entire unpaid principal amount of this Note shall be due and payable on the
earlier of October 15, 2013 and the Redemption Date, if any, pursuant to Section
10.01(a) of the Indenture.  Except as provided in the Indenture, no
payments of principal of the Class A-3 Notes shall be made until the principal
of each of the Class A-1 Notes and the Class A-2 Notes has been paid in its
entirety.  The Issuing Entity will pay interest on this Note at the
Class A-3 Note Interest Rate on each Payment Date until the principal of this
Note is paid or made available for payment, on the principal amount of this Note
outstanding on the preceding Payment Date after giving effect to all payments of
principal made on such preceding Payment Date (or on the initial principal
amount of this Note from and including June 9, 2009 in the case of the first
Payment Date).  Interest on this Note will accrue for each Payment

       

      
        
          
          

        

        
          F-1

          
            

          

        

        
          
          

        

      

       

      Date from
and including the 15th day of the month preceding such Payment Date (or from and
including June 9, 2009 in the case of the first Payment Date) to and including
the 14th day of the month of such Payment Date.  Interest will be
computed on the basis of a 360-day year consisting of twelve 30-day
months.  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 or obligatory for any purpose.

       

      
        
          
          

        

        
          F-2

          
            

          

        

        
          
          

        

      

       

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

      
        
          
             

            
              	Date: 	JOHN
      DEERE OWNER TRUST 2009,	 
	 	 	 
	 	By: 	
                      BNY
      MELLON TRUST OF DELAWARE,

                      not
      in its individual capacity

                      but
      solely
      as Owner
      Trustee 

                      under
      the Trust Agreement,

                    	 
	 	 	 	 
	 	 	 	 	 
	 	By:	 	 
	 	 	Name: 
      	 	 
	 	 	Title: 
      	 	 
	 	 	 	 	 

            

          

           

        

         

        TRUSTEE’S
CERTIFICATE OF AUTHENTICATION

         

        This is
one of the Notes designated above and referred to in the within-mentioned
Indenture.

         

        
          
            
              	 	 	 
	 	
                      U.S.
      BANK NATIONAL ASSOCIATION, 

                      not
      in its individual capacity 

                      but
      solely as Indenture Trustee,

                    	 
	 	 	 	 
	 	 	 	 	 
	 	By:	 	 
	 	 	

                      Authorized
      Signatory 

                    	 
	 	 	 	 	 

            

          

           

        

      

      

      
        
          
          

        

        
          F-3

          
            

          

        

        
          
          

        

      

       

      [REVERSE
OF NOTE]

       

      This Note
is one of the Class A-3 Notes of a duly authorized issue of Notes of the Issuing
Entity, designated as its Asset Backed Notes, all issued under an Indenture
dated as of June 1, 2009 (such indenture, as supplemented or amended, is herein
called the “Indenture”), between the Issuing Entity and U.S. Bank National
Association, as indenture trustee (the “Indenture Trustee”, which term includes
any successor indenture trustee under the Indenture), to which Indenture and all
indentures supplemental thereto 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.  All terms used in this Note that are
defined in the Indenture, as supplemented or amended, shall have the meanings
assigned to them in or pursuant to the Indenture, as so supplemented or
amended.

       

      The Notes
are and will be equally and ratably secured by the collateral pledged as
security therefor as provided in the Indenture.

       

      Principal
of the Notes will be payable on each Payment Date in an amount described on the
face hereof.

       

      As
described above, the entire unpaid principal amount of, together with accrued
and unpaid interest on, this Note shall be due and payable on the earlier of
October 15, 2013 and the Redemption Date, if any, pursuant to Section 10.01(a)
of the Indenture.  Notwithstanding the foregoing, the entire unpaid
principal amount of the Notes shall be due and payable on the date on which an
Event of Default shall have occurred and be continuing and the Indenture Trustee
or the Holders of the Notes representing not less than a majority of the
Outstanding Amount of the Notes have declared the Notes to be immediately due
and payable in the manner provided in Section 5.02 of the
Indenture.  All principal payments on the Notes of a Class shall be
made pro rata to the Noteholders of such Class entitled thereto.

       

      Payments
of interest on this Note due and payable on each Payment Date, together with the
installment of principal, if any, to the extent not in full payment of this
Note, shall be made by check mailed to the Person whose name appears as the
Registered Holder of this Note (or one or more Predecessor Notes) on the Note
Register as of the close of business on each Record Date, except that with
respect to Notes registered on the Record Date in the name of the nominee of the
Clearing Agency (initially, such nominee to be Cede & Co.), payments will be
made by wire transfer in immediately available funds to the account designated
by such nominee.  Such checks shall be mailed to the Person entitled
thereto at the address of such Person as it appears on the Note Register as of
the applicable Record Date without requiring that this Note be submitted for
notation of payment.  Any reduction in the principal amount of this
Note (or any one or more Predecessor Notes) effected by any payments made on any
Payment Date shall be binding upon all future Holders of this Note and of any
Note issued upon the registration of transfer hereof or in exchange hereof or in
lieu hereof, whether or not noted hereon.  If funds are expected to be
available, as provided in the Indenture, for payment in full of the then
remaining unpaid principal amount of this Note on a Payment Date, then the
Indenture Trustee, in the name of and on behalf of the Issuing Entity, will
notify the Person who was the Registered Holder hereof as of the Record Date
preceding such Payment Date by notice mailed within five days of such Payment
Date and the amount then due and payable shall be payable 

       

      
        
          
          

        

        
          F-4

          
            

          

        

        
          
          

        

      

       

      only upon
presentation and surrender of this Note at the Indenture Trustee’s principal
Corporate Trust Office or at the office of the Indenture Trustee’s agent
appointed for such purposes located in The City of New York.

       

      The
Issuing Entity shall pay interest on overdue installments of interest at a rate
per annum equal to the sum of (i) the Class A-3 Note Interest Rate and (ii)
1.0%, to the extent lawful.

       

      As
provided in the Indenture, the Notes may be redeemed in whole, but not in part,
at the option of the Servicer, on any Payment Date, following the last day of a
Collection Period as of which the Pool Balance is 10% or less of the Initial
Pool Balance.

       

      As
provided in the Indenture and subject to certain limitations set forth therein,
the transfer of this Note may be registered on the Note Register upon surrender
of this Note for registration of transfer at the office or agency designated by
the Issuing Entity pursuant to the Indenture, duly endorsed by, or accompanied
by a written instrument of transfer in form satisfactory to the Indenture
Trustee duly executed by, the Holder hereof or his attorney duly authorized in
writing, with such signature guaranteed and such other documents as the
Indenture Trustee may require, and thereupon one or more new Notes of authorized
denominations and in the same aggregate principal amount will be issued to the
designated transferee or transferees.  No service charge will be
charged for any registration of transfer or exchange of this Note, but the
transferor may be required to pay a sum sufficient to cover any tax or other
governmental charge that may be imposed in connection with any such registration
of transfer or exchange.

       

      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 their individual
capacity, (ii) any owner of a beneficial interest in the Issuing Entity or (iii)
any partner, owner, beneficiary, agent, officer, director or employee of the
Indenture Trustee or the Owner Trustee in their individual capacity, 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 their 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 prior to the
end of the period that is one year and one day after there has been paid in full
all debt issued by any securitization vehicle in respect of which the Seller
holds any interest, they will not institute against the Seller or the Trust, or
join in, or assist or encourage others to institute, any institution against the
Seller or the Trust of, any bankruptcy, reorganization, arrangement, insolvency
or liquidation proceedings, or other proceedings under any United States federal
or State bankruptcy or similar law.

      

       

      
        
          
          

        

        
          F-5

          
            

          

        

        
          
          

        

      

       

      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 shall 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 be
overdue, and neither the Issuing Entity, the Indenture Trustee nor any such
agent shall be affected by notice to the contrary.

       

      The
Indenture permits, with certain exceptions as therein provided, the amendment
thereof and the modification of the rights and obligations of the Issuing Entity
and the rights of the Holders of the Notes under the Indenture at any time by
the Issuing Entity with the consent of the Holders of Notes representing a
majority of the Outstanding Amount of all Notes at the time
Outstanding.  The Indenture also contains provisions permitting the
Holders of Notes representing specified percentages of the Outstanding Amount of
the Notes, on behalf of the Holders of all the Notes, to waive compliance by the
Issuing Entity with certain provisions of the Indenture and certain past
defaults under the Indenture and their consequences.  Any such consent
or waiver by the Holder of this Note (or any one or more Predecessor Notes)
shall be conclusive and binding upon such Holder and upon all future Holders of
this Note and of any Note issued upon the registration of transfer hereof or in
exchange hereof or in lieu hereof whether or not notation of such consent or
waiver is made upon this Note.  The Indenture also permits the
Indenture Trustee to amend or waive certain terms and conditions set forth in
the Indenture without the consent of Holders of the Notes issued
thereunder.

       

      The
Issuing Entity has entered into the Indenture and this Note is issued with the
intention that, for federal, State and local income and franchise tax purposes,
the Notes will qualify as indebtedness secured by the
Collateral.  Each Noteholder, by its acceptance of a Note (and each
Note Owner by its acceptance of a beneficial interest in a Note), will be deemed
to agree to treat the Notes for federal, State and local income and franchise
tax purposes as indebtedness.

       

      The term
“Issuing Entity” as used in this Note includes any successor to the Issuing
Entity under the Indenture.

       

      The
Issuing Entity is permitted by the Indenture, under certain circumstances, to
merge or consolidate, subject to the rights of the Indenture Trustee and the
Holders of Notes under the Indenture.

       

      The Notes
are issuable only in registered form in denominations as provided in the
Indenture, subject to certain limitations therein set forth.

       

      This Note
and the Indenture shall be construed in accordance with the laws of the State of
New York and the obligations, rights and remedies of the parties hereunder and
thereunder shall be determined in accordance with such laws.

       

      No
reference herein to the Indenture and no provision of this Note or of the
Indenture 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.

       

      
        
          
          

        

        
          F-6

          
            

          

        

        
          
          

        

      

       

      Anything
herein to the contrary notwithstanding, except as expressly provided in the
Basic Documents, neither BNY Mellon Trust of Delaware in its individual
capacity, U.S. Bank National Association, in its individual capacity, any owner
of a beneficial interest in the Issuing Entity, nor any of their respective
partners, beneficiaries, agents, officers, directors, employees or successors or
assigns shall be personally liable for, nor shall recourse be had to any of them
for, the payment of principal of or interest on, or performance of, or omission
to perform, any of the covenants, obligations or indemnifications contained in
this Note or the Indenture, it being expressly understood that said covenants,
obligations and indemnifications have been made by the Owner Trustee for the
sole purposes of binding the interests of the Owner Trustee in the assets of the
Issuing Entity.  The Holder of this Note by the acceptance hereof
agrees that except as expressly provided in the Basic Documents, in the case of
an Event of Default under the Indenture, the Holder shall have no claim against
any of the foregoing for any deficiency, loss or claim therefrom; provided, however, that nothing
contained herein shall be taken to prevent recourse to, and enforcement against,
the assets of the Issuing Entity for any and all liabilities, obligations and
undertakings contained in the Indenture or in this Note.

       

       

       

      
        
          
          

        

        
          F-7

          
            

          

        

        
          
          

        

      

       

      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:  ___________________________

                  	
                    ___________________________________________NOTE:

                    The
      signature to this assignment must correspond with the name of the
      registered owner as it appears on the face of the within Note in every
      particular, without alteration, enlargement or any change
      whatsoever.

                     

                     

                  
	 
      	
                    Signature
      Guaranteed:

                     

                     

                     

                  
	 
      	 
      
	 
      	
                    Signatures
      must be guaranteed by an “eligible guarantor institution” meeting the
      requirements of the Indenture Trustee which requirements will include
      membership or participation in STAMP or such other “signature guarantee
      program” as may be determined by the Indenture Trustee in addition to, or
      in substitution for, STAMP, all in accordance with the Securities Exchange
      Act of 1934, as amended.

                     

                  
	 
      	 
      

          

        

      

       

       

      
 

      
        
          
          

        

        
          F-8

          
            

          

        

        
          
          

        

      

       

      EXHIBIT
G

      
        
           

          
            
              
                	REGISTERED	
                        $81,710,000

                      

              

            

          

        

      

       

      No.
R

       

      SEE
REVERSE FOR CERTAIN DEFINITIONS

       

      CUSIP NO.
477874 AD3

       

      [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 in 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
PRINCIPAL OF THIS NOTE IS PAYABLE IN INSTALLMENTS

      AS SET
FORTH HEREIN.  ACCORDINGLY, THE OUTSTANDING

      PRINCIPAL
AMOUNT OF THIS NOTE AT ANY TIME MAY BE LESS

      THAN THE
AMOUNT SHOWN ON THE FACE HEREOF.

      

       

      JOHN
DEERE OWNER TRUST 2009

       

      3.96%
ASSET BACKED NOTES,

      CLASS
A-4

       

      John
Deere Owner Trust 2009, a statutory trust organized and existing 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, the
principal sum of EIGHTY-ONE MILLION SEVEN HUNDRED AND TEN THOUSAND DOLLARS
payable on each Payment Date in an amount equal to the result obtained by
multiplying (i) a fraction the numerator of which is $81,710,000 and the
denominator of which is $81,710,000 by (ii) the aggregate amount, if any,
payable from the Note Distribution Account in respect of principal of the Class
A-4 Notes pursuant to Section 8.02(c) of the Indenture; provided, however, that the
entire unpaid principal amount of this Note shall be due and payable on the
earlier of May 16, 2016 and the Redemption Date, if any, pursuant to Section
10.01(a) of the Indenture.  Except as provided in the Indenture, no
payments of principal of the Class A-4 Notes shall be made until the principal
of each of the Class A-1 Notes, the Class A-2 Notes and the Class A-3 Notes has
been paid in its entirety.  The Issuing Entity will pay interest on
this Note at the Class A-4 Note Interest Rate on each Payment Date until the
principal of this Note is paid or made available for payment, on the principal
amount of this Note outstanding on the preceding Payment Date after giving
effect to all payments of principal made on such preceding Payment Date (or on
the initial principal amount of this Note from and including June 9, 2009 in the
case of the first Payment Date).  Interest on 

       

      
        
          
          

        

        
          G-1

          
            

          

        

        
          
          

        

      

       

      this Note
will accrue for each Payment Date from and including the 15th day of the month
preceding such Payment Date (or from and including June 9, 2009 in the case of
the first Payment Date) to and including the 14th day of the month of such
Payment Date.  Interest will be computed on the basis of a 360-day
year consisting of twelve 30-day months.  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 or obligatory for any purpose.

       

      
        
          
          

        

        
          G-2

          
            

          

        

        
          
          

        

      

       

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

      
        
          
            
               

              
                	Date: 	JOHN
      DEERE OWNER TRUST 2009,	 
	 	 	 
	 	By: 	
                        BNY
      MELLON TRUST OF DELAWARE,

                        not
      in its individual capacity

                        but
      solely
      as Owner
      Trustee 

                        under
      the Trust Agreement,

                      	 
	 	 	 	 
	 	 	 	 	 
	 	By:	 	 
	 	 	Name: 
      	 	 
	 	 	Title: 
      	 	 
	 	 	 	 	 

              

            

             

          

           

          TRUSTEE’S
CERTIFICATE OF AUTHENTICATION

           

          This is
one of the Notes designated above and referred to in the within-mentioned
Indenture.

           

          
            
              
                
                  	 	
                          U.S.
      BANK NATIONAL ASSOCIATION, 

                          not
      in its individual capacity but
      

                          solely
      as Indenture Trustee,

                        	 
	 	 	 	 
	 	 	 	 	 
	 	By:	 	 
	 	 	

                          Authorized
      Signatory 

                        	 
	 	 	 	 	 

                

              

            

             

          

        

      

       

       

      
        
          
          

        

        
          G-3

          
            

          

        

        
          
          

        

      

       

      [REVERSE
OF NOTE]

       

      This Note
is one of the Class A-4 Notes of a duly authorized issue of Notes of the Issuing
Entity, designated as its Asset Backed Notes, all issued under an Indenture
dated as of June 1, 2009 (such indenture, as supplemented or amended, is herein
called the “Indenture”), between the Issuing Entity and U.S. Bank National
Association, as indenture trustee (the “Indenture Trustee”, which term includes
any successor indenture trustee under the Indenture), to which Indenture and all
indentures supplemental thereto 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.  All terms used in this Note that are
defined in the Indenture, as supplemented or amended, shall have the meanings
assigned to them in or pursuant to the Indenture, as so supplemented or
amended.

       

      The Notes
are and will be equally and ratably secured by the collateral pledged as
security therefor as provided in the Indenture.

       

      Principal
of the Notes will be payable on each Payment Date in an amount described on the
face hereof.

       

      As
described above, the entire unpaid principal amount of, together with accrued
and unpaid interest on, this Note shall be due and payable on the earlier of May
16, 2016, and the Redemption Date, if any, pursuant to Section 10.01(a) of the
Indenture.  Notwithstanding the foregoing, the entire unpaid principal
amount of the Notes shall be due and payable on the date on which an Event of
Default shall have occurred and be continuing and the Indenture Trustee or the
Holders of the Notes representing not less than a majority of the Outstanding
Amount of the Notes have declared the Notes to be immediately due and payable in
the manner provided in Section 5.02 of the Indenture.  All principal
payments on the Notes of a Class shall be made pro rata to the Noteholders of
such Class entitled thereto.

       

      Payments
of interest on this Note due and payable on each Payment Date, together with the
installment of principal, if any, to the extent not in full payment of this
Note, shall be made by check mailed to the Person whose name appears as the
Registered Holder of this Note (or one or more Predecessor Notes) on the Note
Register as of the close of business on each Record Date, except that with
respect to Notes registered on the Record Date in the name of the nominee of the
Clearing Agency (initially, such nominee to be Cede & Co.), payments will be
made by wire transfer in immediately available funds to the account designated
by such nominee.  Such checks shall be mailed to the Person entitled
thereto at the address of such Person as it appears on the Note Register as of
the applicable Record Date without requiring that this Note be submitted for
notation of payment.  Any reduction in the principal amount of this
Note (or any one or more Predecessor Notes) effected by any payments made on any
Payment Date shall be binding upon all future Holders of this Note and of any
Note issued upon the registration of transfer hereof or in exchange hereof or in
lieu hereof, whether or not noted hereon.  If funds are expected to be
available, as provided in the Indenture, for payment in full of the then
remaining unpaid principal amount of this Note on a Payment Date, then the
Indenture Trustee, in the name of and on behalf of the Issuing Entity, will
notify the Person who was the Registered Holder hereof as of the Record Date
preceding such Payment Date by notice mailed within five days of such Payment
Date and the amount then due and payable shall be payable 

       

      
        
          
          

        

        
          G-4

          
            

          

        

        
          
          

        

      

       

      only upon
presentation and surrender of this Note at the Indenture Trustee’s principal
Corporate Trust Office or at the office of the Indenture Trustee’s agent
appointed for such purposes located in The City of New York.

       

      The
Issuing Entity shall pay interest on overdue installments of interest at a rate
per annum equal to the sum of (i) the Class A-4 Note Interest Rate and (ii)
1.0%, to the extent lawful.

       

      As
provided in the Indenture, the Notes may be redeemed in whole, but not in part,
at the option of the Servicer, on any Payment Date, following the last day of a
Collection Period as of which the Pool Balance is 10% or less of the Initial
Pool Balance.

       

      As
provided in the Indenture and subject to certain limitations set forth therein,
the transfer of this Note may be registered on the Note Register upon surrender
of this Note for registration of transfer at the office or agency designated by
the Issuing Entity pursuant to the Indenture, duly endorsed by, or accompanied
by a written instrument of transfer in form satisfactory to the Indenture
Trustee duly executed by, the Holder hereof or his attorney duly authorized in
writing, with such signature guaranteed and such other documents as the
Indenture Trustee may require, and thereupon one or more new Notes of authorized
denominations and in the same aggregate principal amount will be issued to the
designated transferee or transferees.  No service charge will be
charged for any registration of transfer or exchange of this Note, but the
transferor may be required to pay a sum sufficient to cover any tax or other
governmental charge that may be imposed in connection with any such registration
of transfer or exchange.

       

      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 their individual
capacity, (ii) any owner of a beneficial interest in the Issuing Entity or (iii)
any partner, owner, beneficiary, agent, officer, director or employee of the
Indenture Trustee or the Owner Trustee in their individual capacity, 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 their 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 prior to the
end of the period that is one year and one day after there has been paid in full
all debt issued by any securitization vehicle in respect of which the Seller
holds any interest, they will not institute against the Seller or the Trust, or
join in, or assist or encourage others to institute, any institution against the
Seller or the Trust of, any bankruptcy, reorganization, arrangement, insolvency
or liquidation proceedings, or other proceedings under any United States federal
or State bankruptcy or similar law.

       

      
        
          
          

        

        
          G-5

          
            

          

        

        
          
          

        

      

       

      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 shall 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 be
overdue, and neither the Issuing Entity, the Indenture Trustee nor any such
agent shall be affected by notice to the contrary.

       

      The
Indenture permits, with certain exceptions as therein provided, the amendment
thereof and the modification of the rights and obligations of the Issuing Entity
and the rights of the Holders of the Notes under the Indenture at any time by
the Issuing Entity with the consent of the Holders of Notes representing a
majority of the Outstanding Amount of all Notes at the time
Outstanding.  The Indenture also contains provisions permitting the
Holders of Notes representing specified percentages of the Outstanding Amount of
the Notes, on behalf of the Holders of all the Notes, to waive compliance by the
Issuing Entity with certain provisions of the Indenture and certain past
defaults under the Indenture and their consequences.  Any such consent
or waiver by the Holder of this Note (or any one or more Predecessor Notes)
shall be conclusive and binding upon such Holder and upon all future Holders of
this Note and of any Note issued upon the registration of transfer hereof or in
exchange hereof or in lieu hereof whether or not notation of such consent or
waiver is made upon this Note.  The Indenture also permits the
Indenture Trustee to amend or waive certain terms and conditions set forth in
the Indenture without the consent of Holders of the Notes issued
thereunder.

       

      The
Issuing Entity has entered into the Indenture and this Note is issued with the
intention that, for federal, State and local income and franchise tax purposes,
the Notes will qualify as indebtedness secured by the
Collateral.  Each Noteholder, by its acceptance of a Note (and each
Note Owner by its acceptance of a beneficial interest in a Note), will be deemed
to agree to treat the Notes for federal, State and local income and franchise
tax purposes as indebtedness.

       

      The term
“Issuing Entity” as used in this Note includes any successor to the Issuing
Entity under the Indenture.

       

      The
Issuing Entity is permitted by the Indenture, under certain circumstances, to
merge or consolidate, subject to the rights of the Indenture Trustee and the
Holders of Notes under the Indenture.

       

      The Notes
are issuable only in registered form in denominations as provided in the
Indenture, subject to certain limitations therein set forth.

       

      This Note
and the Indenture shall be construed in accordance with the laws of the State of
New York and the obligations, rights and remedies of the parties hereunder and
thereunder shall be determined in accordance with such laws.

       

      No
reference herein to the Indenture and no provision of this Note or of the
Indenture 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.

       

      
        
          
          

        

        
          G-6

          
            

          

        

        
          
          

        

      

       

      Anything
herein to the contrary notwithstanding, except as expressly provided in the
Basic Documents, neither BNY Mellon Trust of Delaware in its individual
capacity, U.S. Bank National Association, in its individual capacity, any owner
of a beneficial interest in the Issuing Entity, nor any of their respective
partners, beneficiaries, agents, officers, directors, employees or successors or
assigns shall be personally liable for, nor shall recourse be had to any of them
for, the payment of principal of or interest on, or performance of, or omission
to perform, any of the covenants, obligations or indemnifications contained in
this Note or the Indenture, it being expressly understood that said covenants,
obligations and indemnifications have been made by the Owner Trustee for the
sole purposes of binding the interests of the Owner Trustee in the assets of the
Issuing Entity.  The Holder of this Note by the acceptance hereof
agrees that except as expressly provided in the Basic Documents, in the case of
an Event of Default under the Indenture, the Holder shall have no claim against
any of the foregoing for any deficiency, loss or claim therefrom; provided, however, that nothing
contained herein shall be taken to prevent recourse to, and enforcement against,
the assets of the Issuing Entity for any and all liabilities, obligations and
undertakings contained in the Indenture or in this Note.

       

      
        
          
          

        

        
          G-7

          
            

          

        

        
          
          

        

      

       

      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:  _______________________________

                  	
                    ___________________________________________NOTE:

                    The
      signature to this assignment must correspond with the name of the
      registered owner as it appears on the face of the within Note in every
      particular, without alteration, enlargement or any change
      whatsoever.

                     

                     

                  
	 
      	
                    Signature
      Guaranteed:

                     

                     

                     

                  
	 
      	 
      
	 
      	
                    Signatures
      must be guaranteed by an “eligible guarantor institution” meeting the
      requirements of the Indenture Trustee which requirements will include
      membership or participation in STAMP or such other “signature guarantee
      program” as may be determined by the Indenture Trustee in addition to, or
      in substitution for, STAMP, all in accordance with the Securities Exchange
      Act of 1934, as amended.

                     

                  
	 
      	 
      

          

        

      

      

       

       

       

       G-8Exhibit 10.1

     

    EXECUTION
VERSION

     

     

     

     

     

     

    

      
        

      

    

     

     

    SALE AND
SERVICING AGREEMENT

     

     

    among

     

     

    JOHN
DEERE OWNER TRUST 2009

     

    Issuing
Entity

     

     

    JOHN
DEERE RECEIVABLES, INC.

     

    Seller

     

     

    and

     

     

    JOHN
DEERE CAPITAL CORPORATION

     

    Servicer

     

     

     

     

    Dated as
of June 1, 2009

     

     

      
        

      

    

     

     

     

     

     

     

     

     

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
 

    TABLE OF
CONTENTS

     

    Page

     

     

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      
                                        
                                          
                                            
                                              
                                                
                                                  
                                                    
                                                      
                                                        
                                                          
                                                            
                                                              
                                                                
                                                                  
                                                                    
                                                                      
                                                                        
                                                                          
                                                                            
                                                                              
                                                                                
                                                                                  	
                                                                                          ARTICLE
      I

                                                                                        
	 
      
	
                                                                                          Definitions

                                                                                        
	 
      	 
      
	
                                                                                          SECTION 1.01 
      Definitions

                                                                                        	
                                                                                          1

                                                                                        
	
                                                                                          SECTION 1.02  Other
      Definitional Provisions

                                                                                        	
                                                                                          14

                                                                                        
	
                                                                                          SECTION 1.03 
      Calculations

                                                                                        	
                                                                                          15

                                                                                        
	 
      	 
      
	
                                                                                          ARTICLE
      II

                                                                                        
	 
      
	
                                                                                          Conveyance
      of Receivables

                                                                                        
	 
      	 
      
	
                                                                                          SECTION 2.01 
      Conveyance of Receivables

                                                                                        	
                                                                                          15

                                                                                        
	
                                                                                          SECTION 2.02 
      Waiver

                                                                                        	
                                                                                          15

                                                                                        
	 
      	 
      
	
                                                                                          ARTICLE
      III

                                                                                        
	 
      
	
                                                                                          The
      Receivables

                                                                                        
	 
      	 
      
	
                                                                                          SECTION 3.01 
      Representations and Warranties of Seller

                                                                                        	
                                                                                          16

                                                                                        
	
                                                                                          SECTION 3.02
       Repurchase by Seller upon Breach

                                                                                        	
                                                                                          16

                                                                                        
	
                                                                                          SECTION 3.03  Custody
      of Receivable Files

                                                                                        	
                                                                                          17

                                                                                        
	
                                                                                          SECTION 3.04  Duties
      of Servicer as Custodian

                                                                                        	
                                                                                          17

                                                                                        
	
                                                                                          SECTION 3.05 
      Instructions; Authority to Act

                                                                                        	
                                                                                          18

                                                                                        
	
                                                                                          SECTION 3.06 
      Custodian’s Indemnification

                                                                                        	
                                                                                          18

                                                                                        
	
                                                                                          SECTION 3.07 
      Effective Period and Termination

                                                                                        	
                                                                                          18

                                                                                        
	 
      	 
      
	
                                                                                          ARTICLE
      IV

                                                                                        
	 
      
	
                                                                                          Administration
      and Servicing of Receivables

                                                                                        
	 
      	 
      
	
                                                                                          SECTION 4.01  Duties
      of Servicer

                                                                                        	
                                                                                          19

                                                                                        
	
                                                                                          SECTION 4.02 
      Collection of Receivable Payments

                                                                                        	
                                                                                          19

                                                                                        
	
                                                                                          SECTION 4.03 
      Realization upon Receivables

                                                                                        	
                                                                                          20

                                                                                        
	
                                                                                          SECTION 4.04  Physical
      Damage Insurance

                                                                                        	
                                                                                          20

                                                                                        
	
                                                                                          SECTION 4.05 
      Maintenance of Security Interests in Financed Equipment

                                                                                        	
                                                                                          20

                                                                                        
	
                                                                                          SECTION 4.06 
      Covenants of Servicer

                                                                                        	
                                                                                          20

                                                                                        
	
                                                                                          SECTION 4.07  Purchase
      by Servicer of Receivables upon Breach

                                                                                        	
                                                                                          20

                                                                                        
	
                                                                                          SECTION 4.08 
      Servicing Fee

                                                                                        	
                                                                                          21

                                                                                        
	
                                                                                          SECTION 4.09 
      Servicer’s Certificate

                                                                                        	
                                                                                          21

                                                                                        
	
                                                                                          SECTION 4.10  Annual
      Statement as to Compliance; Notice of Default

                                                                                        	
                                                                                          21

                                                                                        
	
                                                                                          SECTION 4.11  Report
      on Assessment of Compliance and Annual Independent Certified Public
      Accountants’ Report

                                                                                        	
                                                                                          22

                                                                                        
	
                                                                                          SECTION
      4.12  Access to Certain Documentation and Information Regarding
      Receivables

                                                                                        	
                                                                                          23

                                                                                        

                                                                                

                                                                              

                                                                            

                                                                          

                                                                        

                                                                      

                                                                    

                                                                  

                                                                

                                                              

                                                            

                                                          

                                                        

                                                      

                                                    

                                                  

                                                

                                              

                                            

                                          

                                        

                                      

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

     

     

    
      
        
        

      

      
        i

        
          

        

      

      
        
        

      

    

    
      

      
        
          
            
              	
                      SECTION
      4.13  Servicer Expenses

                    	
                      23

                    
	
                      SECTION
      4.14  Appointment of Sub-Servicer

                    	
                      23

                    
	
                      SECTION
      4.15  Information to be Furnished in the Event of Resignation or
      Termination

                    	
                      23

                    
	
                      SECTION 4.16  Exchange
      Act Reports

                    	
                      23

                    
	 
      	 
      
	
                      ARTICLE
      V

                    
	 
      
	
                      Distributions;
      Reserve Account;

                    
	
                      Statements
      to the Certificateholder and Noteholders

                    
	 
      	 
      
	
                      SECTION 5.01 
      Establishment of Trust Accounts

                    	
                      25

                    
	
                      SECTION 5.02 
      Collections

                    	
                      27

                    
	
                      SECTION 5.03 
      Additional Deposits

                    	
                      28

                    
	
                      SECTION 5.04 
      Distributions

                    	
                      28

                    
	
                      SECTION 5.05  Reserve
      Account

                    	
                      29

                    
	
                      SECTION 5.06 
      Statements to the Certificateholder and Noteholders

                    	
                      30

                    
	
                      SECTION 5.07  Net
      Deposits

                    	
                      31

                    
	 
      	 
      
	
                      ARTICLE
      VI

                    
	 
      
	
                      The
      Seller

                    
	 
      	 
      
	
                      SECTION 6.01 
      Representations of Seller

                    	
                      31

                    
	
                      SECTION 6.02 
      Corporate Existence

                    	
                      33

                    
	
                      SECTION 6.03 
      Liability of Seller; Indemnities

                    	
                      33

                    
	
                      SECTION 6.04  Merger
      or Consolidation of, or Assumption of the Obligations of,
      Seller

                    	
                      34

                    
	
                      SECTION 6.05 
      Limitation on Liability of Seller and Others

                    	
                      35

                    
	
                      SECTION 6.06  Seller
      May Own Notes; Retention of the Certificate

                    	
                      35

                    
	
                      SECTION 6.07  Right of
      Seller to Repurchase Receivables

                    	
                      35

                    
	 
      	 
      
	
                      ARTICLE
      VII

                    
	 
      
	
                      The
      Servicer

                    
	 
      	 
      
	
                      SECTION 7.01
       Representations of Servicer

                    	
                      35

                    
	
                      SECTION 7.02
       Indemnities of Servicer

                    	
                      36

                    
	
                      SECTION 7.03  Merger
      or Consolidation of, or Assumption of the Obligations of,
      Servicer

                    	
                      38

                    
	
                      SECTION 7.04 
      Limitation on Liability of Servicer and Others

                    	
                      39

                    
	
                      SECTION 7.05  JDCC Not
      to Resign as Servicer

                    	
                      39

                    
	
                      SECTION 7.06  Servicer
      to Act as Administrator

                    	
                      40

                    
	 
      	 
      
	
                      ARTICLE
      VIII

                    
	 
      
	
                      Default

                    
	 
      	 
      
	
                      SECTION 8.01  Servicer
      Default

                    	
                      40

                    
	
                      SECTION 8.02 
      Appointment of Successor

                    	
                      41

                    
	
                      SECTION 8.03 
      Notification to Noteholders and the Certificateholder

                    	
                      42

                    

            

          

        

      

      

      
        
          
          

        

        
          ii

          
            

          

        

        
          
          

        

      

    

    
      

      
        
          
            	
                    SECTION 8.04  Waiver
      of Past Defaults

                  	
                    42

                  
	 
      	 
      
	
                    ARTICLE
      IX

                  
	 
      
	
                    Termination

                  
	 
      	 
      
	
                    SECTION 9.01  Optional
      Purchase of All Receivables and Termination

                  	
                    42

                  
	 
      	 
      
	
                    ARTICLE
      X

                  
	 
      
	
                    Miscellaneous
      Provisions

                  
	 
      	 
      
	
                    SECTION 10.01 
      Amendment

                  	
                    43

                  
	
                    SECTION 10.02 
      Protection of Title to Trust

                  	
                    44

                  
	
                    SECTION 10.03 
      Notices

                  	
                    46

                  
	
                    SECTION 10.04 
      Assignment

                  	
                    47

                  
	
                    SECTION 10.05 
      Limitations on Rights of Others

                  	
                    47

                  
	
                    SECTION 10.06 
      Severability

                  	
                    47

                  
	
                    SECTION 10.07 
      Separate Counterparts

                  	
                    47

                  
	
                    SECTION 10.08 
      Headings

                  	
                    47

                  
	
                    SECTION 10.09 
      Governing Law

                  	
                    47

                  
	
                    SECTION 10.10 
      Assignment to Indenture Trustee

                  	
                    47

                  
	
                    SECTION 10.11 
      Nonpetition Covenants

                  	
                    48

                  
	
                    SECTION 10.12 
      Limitation of Liability of Owner Trustee and Indenture
    Trustee

                  	
                    48

                  
	
                    SECTION 10.13 
      Additional Securities

                  	
                    49

                  

          

        

      

      

       

      SCHEDULES

    

    
    

     

    
      
        	SCHEDULE
      A    	
                – 

              	Schedule of
      Receivables
	SCHEDULE B	
                – 

              	Location of
      Receivable Files
	SCHEDULE C	
                – 

              	List of Fiscal
      Months
	
                SCHEDULE
      D 

              	
                – 

              	Servicer’s
      Certificate
	SCHEDULE E	
                – 

              	Statement to
      Certificateholder
	SCHEDULE F	
                – 

              	Statement to
      Noteholders
	SCHEDULE G	
                – 

              	Payment and Deposit
      Instructions to Indenture Trustee
	  	 	 
	APPENDIX A	
                – 

              	Servicing
      Criteria

      

    

     

    
      
        
        

      

      
        iii

        
          

        

      

      
        
        

      

    

     

    This SALE
AND SERVICING AGREEMENT dated as of June 1, 2009, among JOHN DEERE OWNER TRUST
2009, a Delaware statutory trust (the “Issuing Entity”), JOHN DEERE RECEIVABLES,
INC., a Nevada corporation (the “Seller”), and JOHN DEERE CAPITAL CORPORATION, a
Delaware corporation (“JDCC” or the “Servicer”).

     

    WHEREAS
the Issuing Entity desires to purchase a portfolio of receivables arising in
connection with agricultural and construction equipment retail installment sale
and loan contracts generated by JDCC in the ordinary course of
business;

     

    WHEREAS
the Seller has purchased such receivables from JDCC and desires to sell such
receivables to the Issuing Entity; and

     

    WHEREAS
JDCC desires to service such receivables.

     

    NOW,
THEREFORE, in consideration of the premises and the mutual covenants herein
contained, the parties hereto agree as follows:

     

     

    ARTICLE
I

     

    
      Definitions

    

     

    SECTION
1.01  Definitions.  Whenever used
in this Agreement, the following words and phrases, unless the context otherwise
requires, shall have the following meanings:

     

    “Administration
Agreement” means the Administration Agreement dated as of June 1, 2009 among the
Trust, JDCC, as Administrator, and U.S. Bank National Association, as indenture
trustee, as the same may be amended and supplemented from time to
time.

     

    “Administration
Fee” means the fee payable to the Administrator pursuant to Section 3 of the
Administration Agreement.

     

    “Administrator”
means the administrator under the Administration Agreement.

     

    “Agreement”
means this Sale and Servicing Agreement, as the same may be amended and
supplemented from time to time.

     

    “Amount
Financed” with respect to a Receivable means the amount advanced under the
Receivable toward the purchase price of the related Financed Equipment and any
related costs.

     

    “Annual
Percentage Rate” or “APR” of a Receivable means the fixed annual rate of finance
charges specified in the related Contract.

     

    “Certificate”
means the Certificate (as defined in the Trust Agreement).

     

    “Certificate
Balance” equals, initially, and, on each day thereafter, equals the initial
Certificate Balance reduced by all amounts allocable to principal previously
distributed to the Certificateholder.

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    “Certificate
Distribution Account” has the meaning assigned to such term in the Trust
Agreement.

     

    “Certificateholder”
has the meaning assigned to such term in the Trust Agreement.

     

    “Certificate
Monthly Principal Distributable Amount” means (a) zero on any Payment Date on
which the outstanding principal balance of the Notes has not been reduced to
zero after taking into account distributions on such Payment Date and (b) on
each Payment Date on and after the Payment Date on which the outstanding
principal balance of the Notes is reduced to zero, an amount equal to the
Principal Distributable Amount minus the principal payment, if any, on the Notes
on such Payment Date.

     

    “Class
A-1 Note Final Payment Date” means July 2, 2010.

     

    “Class
A-1 Note Interest Rate” means a rate per annum equal to 1.13155%.

     

    “Class
A-1 Notes” means the Class A-1 Notes (as defined in the Indenture).

     

    “Class
A-2 Note Final Payment Date” means September 15, 2011.

     

    “Class
A-2 Note Interest Rate” means a rate per annum equal to 1.96%.

     

    “Class
A-2 Notes” means the Class A-2 Notes (as defined in the Indenture).

     

    “Class
A-3 Note Final Payment Date” means October 15, 2013.

     

    “Class
A-3 Note Interest Rate” means a rate per annum equal to 2.59%.

     

    “Class
A-3 Notes” means the Class A-3 Notes (as defined in the Indenture).

     

    “Class
A-4 Note Final Payment Date” means May 16, 2016.

     

    “Class
A-4 Note Interest Rate” means a rate per annum equal to 3.96%.

     

    “Class
A-4 Notes” means the Class A-4 Notes (as defined in the Indenture).

     

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

     

    “Collection
Account” means the account designated as such, established and maintained
pursuant to Section 5.01.

     

    “Collection
Period” means, with respect to the first Payment Date, the period from the
Cut-off Date through the Fiscal Month ending on June 28, 2009 and, with respect
to each subsequent Payment Date, the Fiscal Month ending immediately preceding
such Payment Date.  Any amount stated “as of the close of business on
the last day of a Collection Period” shall give effect to the following
calculations as determined as of the end of the day on such last
day:  (1) all applications of collections and (2) all distributions to
be made on the following Payment Date.

     

     

    
      
        
        

      

      
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    “Commission”
means the United States Securities and Exchange Commission.

     

    “Contract”
means an agricultural or construction equipment retail installment sale or loan
contract.

     

    “Corporate
Trust Office” means the office of the Indenture Trustee at which at any
particular time its corporate trust business shall be administered, which office
at date of the execution of this Agreement is located at 209 S. LaSalle Street,
Suite 300, Chicago, IL 60604, Attention: JDOT 2009; or at such other address as
the Indenture Trustee may designate from time to time by notice to the
Noteholders and the Seller, or the corporate trust office of any successor
Indenture Trustee (the address of which the successor Indenture Trustee will
notify the Noteholders and the Seller).

     

    “Current
Principal Distribution Amount” means, with respect to any Payment Date, an
amount equal to the Note Value at the beginning of the related Collection Period
less the Note Value at the end of that Collection Period.

     

    “Cut-off
Date” means May 3, 2009.

     

    “Dealer”
means the dealer who sold an item of Financed Equipment securing a
Receivable.

     

    “Deere”
means Deere & Company, a Delaware corporation, and its
successors.

     

    “Delinquent”
means a Scheduled Payment determined by the Servicer to be past due in
accordance with its normal practices, subject to Article IV relating to the
administration and servicing of the Receivables.

     

    “Delivery”
when used with respect to Trust Account Property the perfection and priority in
which is governed by Article 8 of the UCC or the Federal Book-Entry Regulations
means:

     

    (a)           with
respect to bankers’ acceptances, commercial paper, negotiable certificates of
deposit and other obligations that constitute “instruments” within the meaning
of Section 9-102(47) of the UCC (other than certificated securities) and are
susceptible to physical delivery, transfer thereof to the Indenture Trustee or
its nominee or custodian by physical delivery to the Indenture Trustee or its
nominee or custodian endorsed to, or registered in the name of, the Indenture
Trustee or its nominee or custodian or endorsed in blank, and such additional or
alternative procedures as may hereafter become appropriate to effect the
complete transfer of ownership of any such Trust Property to the Indenture
Trustee or its nominee or custodian free and clear of any adverse claims,
consistent with changes in applicable law or regulations or the interpretation
thereof;

     

    (b)           with
respect to a “certificated security” (as defined in Section 8-102(a)(4) of the
UCC), transfer thereof (i) by physical delivery of such certificated security
endorsed to, or registered in the name of, the Indenture Trustee or its nominee
or custodian or endorsed in blank, (ii) by physical delivery of such
certificated security in registered form 

     

    
      
        
        

      

      
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    to a
“securities intermediary” (as defined in Section 8-102(a)(14) of the UCC) acting
on behalf of the Indenture Trustee if the certificated security has been
specially endorsed to the Indenture Trustee by an effective
endorsement;

     

    (c)           with
respect to any security issued by the U.S. Treasury, the Federal Home Loan
Mortgage Corporation or by the Federal National Mortgage Association that is a
book-entry security held through the Federal Reserve System pursuant to Federal
book-entry regulations, the following procedures, all in accordance with
applicable law, including applicable Federal regulations and Articles 8 and 9 of
the UCC:  book-entry registration of such Trust Account Property to an
appropriate book-entry account maintained with a Federal Reserve Bank by a
securities intermediary which is also a “depository” pursuant to applicable
Federal regulations and issuance by such securities intermediary of a deposit
advice or other written confirmation of such book-entry registration to the
Indenture Trustee or its nominee or custodian of the purchase by the Indenture
Trustee or its nominee or custodian of such book-entry securities; the
identification by the Federal Reserve Bank of such book-entry certificates on
its records being credited to the securities intermediary’s Participant’s
securities account; the making by such securities intermediary of entries in its
books and records identifying such book-entry security held through the Federal
Reserve System pursuant to Federal book-entry regulations as belonging to the
Indenture Trustee or its nominee or custodian and indicating that such custodian
holds such Trust Account Property solely as agent for the Indenture Trustee or
its nominee or custodian; and such additional or alternative procedures as may
hereafter become appropriate to effect complete transfer of ownership of any
such Trust Account Property to the Indenture Trustee or its nominee or
custodian, consistent with changes in applicable law or regulations or the
interpretation thereof; and

     

    (d)           with
respect to any item of Trust Account Property that is an uncertificated security
under Article 8 of the UCC and that is not governed by clause (c) above,
registration on the books and records of the issuer thereof in the name of the
Indenture Trustee, or by another Person (not a securities intermediary) either
becoming the registered owner of the uncertificated security on behalf of the
Indenture Trustee, or having become the registered owner, acknowledging that it
holds for the Indenture Trustee, or the issuer thereof agreeing that it will
comply with instructions originated by the Indenture Trustee without further
consent of the registered owner thereof;

     

    (e)           with
respect to a “financial asset” (as defined in Section 8-102(a)(9) of the UCC) to
the extent not covered by paragraphs (a) through (d) above, if a securities
intermediary (i) indicates by book entry that such financial asset has been
credited to the Indenture Trustee’s “securities account” (as defined in Section
8-501(a) of the UCC), (ii) receives a financial asset from the Indenture Trustee
or acquires a financial asset for the Indenture Trustee, and in either case,
accepts it for credit to the Indenture Trustee’s securities account, (iii)
becomes obligated under other law, regulation or rule to credit a financial
asset to the Indenture Trustee’s securities account, or (iv) has agreed that it
will comply with “entitlement orders” (as defined in Section 8-102(a)(8) of the
UCC) originated by the Indenture Trustee without further consent by the
“entitlement holder” (as defined in Section 8-102(a)(7) of the UCC);
and

     

     

    
      
        
        

      

      
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    (f)           in
each case of delivery contemplated herein, the Indenture Trustee shall make
appropriate notations on its records, and shall cause the same to be made on the
records of its nominees, indicating that securities are credited to the
appropriate Trust Account and held in trust pursuant to and as provided in this
Agreement.

     

    “Depositor”
means the Seller in its capacity as Depositor under the Trust
Agreement.

     

    “Determination
Date” means, with respect to any Payment Date, the second Business Day prior to
such Payment Date; provided that if any Class A-1 Notes are outstanding after
the Payment Date in June 2010, the Determination Date in July 2010 shall be the
second Business Day prior to the Special Payment Date.

     

    “Eligible
Deposit Account” means either (a) a segregated trust account with an Eligible
Institution or (b) a segregated trust account with the corporate trust
department of a depository institution organized under the laws of the United
States of America or any State (or any domestic branch of a foreign bank),
having corporate trust powers and acting as trustee for funds deposited in such
account, so long as any of the unsecured debt obligations of such depository
institution shall have a credit rating from each of Moody’s and Standard &
Poor’s in one of its generic rating categories which signifies investment
grade.

     

    “Eligible
Institution” means (a) the corporate trust department of the Indenture Trustee
or the Owner Trustee, or (b) a depository institution organized under the laws
of the United States of America or any State (or any domestic branch of a
foreign bank), (1)(i) which has either (A) a long-term unsecured debt rating of
AAA or better by Standard & Poor’s and Aaa or better by Moody’s or (B) a
short-term unsecured debt rating or a certificate of deposit rating of A-1+ by
Standard & Poor’s and P-1 or better by Moody’s, or any other long-term,
short-term or certificate of deposit rating acceptable to the Rating Agencies
and (ii) whose deposits are insured by the FDIC or (2)(i) the parent of which
has a long-term or short-term unsecured debt rating acceptable to the Rating
Agencies and (ii) whose deposits are insured by the FDIC.  If so
qualified, the Indenture Trustee, the Owner Trustee, U.S. Bank National
Association or BNY Mellon Trust of Delaware may be considered an Eligible
Institution for the purposes of clause (b) of this definition.

     

    “Eligible
Investments” mean book-entry securities, negotiable instruments or securities
represented by instruments in bearer or registered form which
evidence:

     

    (a)           direct
obligations of, and obligations fully guaranteed as to timely payment by, the
United States of America;

     

    (b)           demand
deposits, time deposits or certificates of deposit of any depository institution
or trust company incorporated under the laws of the United States of America or
any State (or any domestic branch of a foreign bank) and subject to supervision
and examination by Federal or State banking or depository institution
authorities; provided, however, that at the time of the investment or
contractual commitment to invest therein, the commercial paper or other
short-term unsecured debt obligations (other than such obligations the rating of
which is based on the credit of a Person other than such 

     

    
      
        
        

      

      
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    depository
institution or trust company) thereof shall have a credit rating from each of
Standard & Poor’s and Moody’s, in the highest investment category granted
thereby:

     

    (c)           commercial
paper having, at the time of the investment or contractual commitment to invest
therein, a rating from each of Standard & Poor’s and Moody’s in the highest
investment category granted thereby;

     

    (d)           investments
in money market mutual funds having a rating at the time of such investment of
no less than AAA by Standard & Poor’s and Aaa by Moody’s (including funds
for which the Indenture Trustee or the Owner Trustee or any of their respective
Affiliates is investment manager or advisor);

     

    (e)           bankers’
acceptances issued by any depository institution or trust company referred to in
clause (b) above;

     

    (f)           repurchase
obligations with respect to any security that is a direct obligation of, or
fully guaranteed by, the United States of America or any agency or
instrumentality thereof the obligations of which are backed by the full faith
and credit of the United States of America, in either case entered into with a
depository institution or trust company (acting as principal) described in
clause (b); and

     

    (g)           any
other investment permitted by each of the Rating Agencies in writing; provided,
however, that if an investment would be an Eligible Investment solely by virtue
of clause (b), (c), (d), (e) or (f) and has a remaining maturity of more than 30
days at the time of its acquisition by the Indenture Trustee, then such
investment shall be an Eligible Investment only if the long-term unsecured debt
rating of the obligor on such investment is at least A-1 from Moody’s and at
least A+ by S&P.

     

    “Exchange
Act” means the Securities Exchange Act of 1934, as amended.

     

    “Exchange
Act Reports” means information, documents or reports required to be filed with
the Commission pursuant to Section 13 or 15(d) of the Exchange Act.

     

    “Face
Amount” means with respect to a Receivable as of the close of business on the
last day of a Collection Period, the gross amount of all unpaid installments
scheduled to be paid on each contract, including unearned finance and other
charges.

     

    “FDIC”
means the Federal Deposit Insurance Corporation.

     

    “Financed
Equipment” means an item of agricultural, construction or forestry equipment,
together with all accessions thereto, which was purchased by an Obligor pursuant
to the terms of the related Contract and securing such Obligor’s indebtedness
under the respective Receivable.

     

    “Fiscal
Month” means a fiscal month specified in Schedule C, as may be amended from time
to time by the delivery by the Servicer to the Seller, the Owner Trustee and the
Indenture Trustee of a new Schedule C hereto listing the fiscal months; provided
that the fiscal months on any such new Schedule C shall have the ranges of
number of days generally similar to 

     

    
      
        
        

      

      
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    the
ranges of the number of days in the fiscal months set forth in the original
Schedule C hereto and shall not result in a Collection Period that does not
allow the Servicer a sufficient amount of time to perform the calculations
required of it hereunder in respect of such Collection Period prior to the
related Determination Date.

     

    “Form
10-D Disclosure Item” shall mean with respect to any Person, any litigation or
governmental proceedings pending against such Person, or any of the Trust, the
Depositor, the Indenture Trustee, the Owner Trustee or the Servicer if such
Person has actual knowledge thereof, in each case that would be material to the
Noteholders.

     

    “Form
10-K Disclosure Item” shall mean with respect to any Person, (a) any Form 10-D
Disclosure Item and (b) any affiliations or relationships between such Person
and any Item 1119 Party to the extent such Person has actual knowledge
thereof.

     

    “Indenture”
means the Indenture dated as of June 1, 2009, between the Issuing Entity and the
Indenture Trustee, as the same may be amended and supplemented from time to
time.

     

    “Indenture
Trustee” means U.S. Bank National Association solely in its capacity as
indenture trustee under the Indenture and not in its individual capacity, its
successors in interest and any successor indenture trustee under the
Indenture.

     

    “Initial
Pool Balance” means the Pool Balance as of the Cut-off Date, which is
$741,638,702.

     

    “Insolvency
Event” means, with respect to a specified Person, (a) the filing of a decree or
order for relief by a court having jurisdiction in the premises in respect of
such Person or any substantial part of its property in an involuntary case under
any applicable Federal or State bankruptcy, insolvency or other similar law now
or hereafter in effect, or appointing a receiver, liquidator, assignee,
custodian, trustee, sequestrator or similar official for such Person or for any
substantial part of its property, or ordering the winding-up or liquidation of
such Person’s affairs, and such decree or order shall remain unstayed and in
effect for a period of 90 consecutive days; or (b) the commencement by such
Person of a voluntary case under any applicable Federal or State bankruptcy,
insolvency or other similar law now or hereafter in effect, or the consent by
such Person to the entry of an order for relief in an involuntary case under any
such law, or the consent by such Person to the appointment of or taking
possession by a receiver, liquidator, assignee, custodian, trustee, sequestrator
or similar official for such Person or for any substantial part of its property,
or the making by such Person of any general assignment for the benefit of
creditors, or the failure by such Person generally to pay its debts as such
debts become due, or the taking of action by such Person in furtherance of any
of the foregoing.

     

    “Investment
Earnings” means, with respect to any Payment Date, the investment earnings (net
of losses and investment expenses) on amounts on deposit in the Trust Accounts
to be deposited into the Collection Account on such Payment Date pursuant to
Section 5.01(b).

     

    “Item
1119 Party” shall mean the parties specified in Item 1119 of Regulation AB,
which are the Issuing Entity, the Seller, JDCC, as the sponsor (as defined in
Item 1101 (l)  

     

    
      
        
        

      

      
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    of
Regulation AB), the Servicer, the Sub-Servicer, the Indenture Trustee, each
Subcontractor and the Owner Trustee.

     

    “JDCC”
means John Deere Capital Corporation, a Delaware corporation, and its
successors.

     

    “Lien”
means a security interest, lien, charge, pledge, equity or encumbrance of any
kind, other than tax liens, mechanics’ liens and any liens which attach to the
respective Receivable by operation of law as a result of any act or omission by
the related Obligor.

     

    “Liquidated
Receivable” means any Receivable liquidated by the Servicer through the sale or
other disposition of the Financed Equipment or which the Servicer has determined
to charge-off without realizing upon the Financed Equipment.

     

    “Liquidation
Proceeds” means, with respect to any Liquidated Receivable, the moneys collected
in respect thereof, from whatever source (including the proceeds of insurance
policies with respect to the related Financed Equipment or Obligor but excluding
any amounts from Dealer reserves) on a Liquidated Receivable during the Fiscal
Month in which such Receivable became a Liquidated Receivable, net of the sum of
any amounts expended by the Servicer in connection with such liquidation and any
amounts required by law to be remitted to the Obligor on such Liquidated
Receivable.

     

    “Moody’s”
means Moody’s Investors Service, Inc., or its successor.

     

    “Note
Distribution Account” means the account designated as such, established and
maintained pursuant to Section 5.01.

     

    “Note
Interest Rate” means the per annum interest rate borne by a Note.

     

    “Note
Monthly Principal Distributable Amount” means, for any Payment Date, the
Principal Distributable Amount; provided, that the Note Monthly Principal
Distributable Amount shall not exceed the aggregate outstanding principal
balance of the Notes; provided, further, that on (i) the Class A-1 Note Final
Payment Date, the Note Monthly Principal Distributable Amount will at least
equal the outstanding principal balance of the Class A-1 Notes, (ii) the Class
A-2 Note Final Payment Date, the Note Monthly Principal Distributable Amount
will at least equal the outstanding principal balance of the Class A-2 Notes,
(iii) the Class A-3 Note Final Payment Date, the Note Monthly Principal
Distributable Amount will at least equal the outstanding principal balance of
the Class A-3 Notes and (iv) the Class A-4 Note Final Payment Date, the Note
Monthly Principal Distributable Amount will at least equal the outstanding
principal balance of the Class A-4 Notes.

     

    “Note
Value” means, with respect to any day, the present value of the unpaid Scheduled
Payments on the Receivables, discounted at an annual rate equal to
7.500%.  For purposes of calculating Note Value, in the case of a
defaulted Receivable: (a) prior to the time at which such defaulted Receivable
becomes a Repossessed Receivable or a 180-day Receivable, the Scheduled Payments
on such Receivable will be computed based on the amounts that would have been
the Scheduled Payments had such default not occurred; (b) at the earlier of the
time at which such defaulted Receivable becomes a Repossessed Receivable or a
180-day Receivable, 

     

    
      
        
        

      

      
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    the
amount added to the Note Value with respect to such Receivable will be the
estimated realizable value of such Receivable, as determined by the Servicer in
accordance with its normal servicing procedures and (c) after the time such
defaulted Receivable becomes a Liquidated Receivable, and after the payment of a
Purchase Amount in respect of a Purchased Receivable, there shall be deemed to
be no Scheduled Payments due on such Receivable.

     

    “Noteholders’
Distributable Amount” means, with respect to any Payment Date, the sum of (a)
the accrued and unpaid interest on the Notes for such Payment Date and (b) the
Note Monthly Principal Distributable Amount.

     

    “Notes”
means the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes and the
Class A-4 Notes.

     

    “Obligor”
on a Receivable means the purchaser or co-purchasers of the Financed Equipment
and any other Person who owes payments under the Receivable.

     

    “Officers’
Certificate” means a certificate signed by (a) the chairman of the board, the
president, any vice president, the treasurer or any assistant treasurer and (b)
the secretary or any assistant secretary of the Seller or the Servicer, as
appropriate.

     

    “180-day
Receivable”, with respect to any Collection Period, means any Receivable as to
which a Scheduled Payment is 180 days or more Delinquent by the last day of such
Collection Period and which has not become a Liquidated Receivable or a
Repossessed Receivable; provided that a Receivable shall cease to be a 180-day
Receivable if the Servicer subsequently receives payment in full of each
Scheduled Payment that was previously 180 days or more Delinquent on such
Receivable.

     

    “Opinion
of Counsel” means one or more written opinions of counsel who may be an employee
of or counsel to the Seller or the Servicer, which counsel shall be acceptable
to the Indenture Trustee, the Owner Trustee or the Rating Agencies, as
applicable.

     

    “Owner
Trust Estate” has the meaning assigned to such term in the Trust
Agreement.

     

    “Owner
Trustee” means BNY Mellon Trust of Delaware in its capacity as Owner Trustee
under the Trust Agreement, its successors in interest and any successor owner
trustee under the Trust Agreement.

     

    “Payment
Date” means the 15th day of
each month, or, if any such date is not a Business Day, the next succeeding
Business Day, commencing July 15, 2009; provided, however, that if any Class A-1
Notes are outstanding after the Payment Date in June 2010, Payment Date shall
also mean, solely in the context of determining the date for final payment of
the Class A-1 Notes and the interest accrual period for the Class A-1 Notes from
the Payment Date in June 2010 to but excluding such final payment, the Special
Payment Date.

     

    “Pool
Balance” as of the close of business on the last day of a Collection Period,
means the aggregate Principal Balance of the Receivables (excluding Purchased
Receivables and 

     

    
      
        
        

      

      
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    Liquidated
Receivables) less the aggregate Write-Down Amount as of the last day of such
Collection Period.

     

    “Pool
Face Amount” as of the close of business on the last day of a Collection Period,
means the aggregate Face Amount of the Receivables (excluding Purchased
Receivables and Liquidated Receivables) less the aggregate Write-Down Amount as
of the last day of such Collection Period.

     

    “Principal
Balance” of a Receivable, as of the close of business on the last day of a
Collection Period, means the Amount Financed minus the sum of (i) that portion
of all Scheduled Payments paid on or prior to such day allocable to principal
using the actuarial method, (ii) any payment of the Purchase Amount with respect
to the Receivable purchased by the Servicer or repurchased by the Seller and
allocable to principal, and (iii) any prepayment in full or any partial
prepayments applied to reduce the Principal Balance of the
Receivable.

     

    “Principal
Carryover Shortfall” means, with respect to any Payment Date, the excess of (i)
the Principal Distributable Amount for the immediately preceding Payment Date
over (ii) the amount that was actually deposited into the Note Distribution
Account and the Certificate Distribution Account, if applicable, on account of
principal on such immediately preceding Payment Date.

     

    “Principal
Distributable Amount” means, with respect to any Payment Date, the sum of (i)
the Current Principal Distribution Amount for such Payment Date and (ii) the
Principal Carryover Shortfall for such Payment Date.

     

    “Purchase
Agreement” means the Purchase Agreement dated as of June 1, 2009, between the
Seller and JDCC, as the same may be amended and supplemented from time to
time.

     

    “Purchase
Amount” means with respect to a Receivable, the amount, as of the close of
business on the last day of a Collection Period, required to prepay in full the
Receivable under the terms thereof including interest to the last day of such
Collection Period.

     

    “Purchased
Receivable” means a Receivable purchased as of the close of business on the last
day of a Collection Period by the Servicer pursuant to Section 4.07 or
repurchased as of such time by the Seller pursuant to Section 3.02 or
6.07.

     

    “Rating
Agencies” means Moody’s and Standard & Poor’s.  If no such
organization or successor is in existence, “Rating Agency” shall be a nationally
recognized statistical rating organization or other comparable Person designated
by the Seller, notice of which designation shall be given to the Indenture
Trustee, the Owner Trustee and the Servicer.

     

    “Rating
Agency Condition” means, with respect to any action, that each Rating Agency
shall have been given 10 days (or such shorter period that is acceptable to each
Rating Agency) prior notice thereof and that each of the Rating Agencies shall
have notified the Seller, the Servicer, the Owner Trustee and the Indenture
Trustee in writing that such action will not result in a reduction or withdrawal
of the then current rating of the Notes.

     

    
      
        
        

      

      
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    “Receivable”
means any retail installment sale or loan contract listed on Schedule A
hereto.

     

    “Receivable
Files” means the documents specified in Section 3.03.

     

    “Recoveries”
means, with respect to any Liquidated Receivable, monies collected in respect
thereof, from whatever source (other than any amounts from Dealer reserves)
after the Fiscal Month in which such Receivable became a Liquidated Receivable,
net of the sum of any amounts expended by the Servicer for the account of the
Obligor and any amounts required by law to be remitted to the
Obligor.

     

    “Regulation
AB” means Subpart 229.1100
– Asset Backed Securities (Regulation
AB), 17 C.F.R. §§229.1100-229.1123, as such
may be amended from time to
time, and subject to such clarification and interpretation as have been provided
by the Commission in the adopting release (Asset-Backed Securities,
Securities Act Release No. 33-8518, 70 Fed. Reg. 1,506, 1,531 (Jan. 7, 2005)) or
by the staff of the Commission, or as may be provided by the Commission or its
staff from time to time.

     

    “Regulation S-X” means Regulation S-X, 17 C.F.R.
§§210.1-01—210.12-29, as such may be amended from
time to time, and subject to such clarification and interpretation as may be provided
by the Commission or its staff from time to time.

     

    “Reportable
Event” shall mean any event required to be reported on Form 8-K, and in any
event, the following:

     

    (a) entry
into a definitive agreement related to the Trust, the Notes or the Receivables,
or an amendment to a transaction document, even if the Depositor is not a party
to such agreement (e.g., a servicing agreement with a servicer contemplated by
Item 1108(a)(3) of Regulation AB);

     

    (b)
termination of a transaction document (other than by expiration of the agreement
on its stated termination date or as a result of all parties completing their
obligations under such agreement), even if the Depositor is not a party to such
agreement (e.g., a servicing agreement with a servicer contemplated by Item
1108(a)(3) of Regulation AB);

     

    (c) with
respect to the Servicer only, the occurrence of a Servicer Default;

     

    (d) the
resignation, removal, replacement or substitution of the Indenture Trustee or
the Owner Trustee;

     

    (e) with
respect to the Indenture Trustee only, a required distribution to holders of the
Notes is not made as of the required Payment Date under the Indenture;
and

     

    (f) with
respect to the Servicer only, if the Servicer becomes aware of any bankruptcy or
receivership of the Seller, the Depositor, the Indenture Trustee, the Owner
Trustee, any enhancement or support provider contemplated by Item 1114(b) or
1115 of Regulation AB, or other material party contemplated by Item 1101(d)(1)
of Regulation AB.

     

    
      
        
        

      

      
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    “Reporting
Subcontractor” shall mean any Subcontractor determined by the Servicer to be
“participating in the servicing function” within the meaning of Item 1122 of
Regulation AB.

     

    “Repossessed
Receivable”, with respect to any Collection Period, means any defaulted
Receivable as to which the Financed Equipment securing such defaulted Receivable
has been repossessed by the last day of such Collection Period.

     

    “Reserve
Account” means the account designated as such, established and maintained
pursuant to Section 5.01.

     

    “Reserve
Account Initial Deposit” means, with respect to the Closing Date,
$8,780,040.

     

    “Scheduled
Payment” on a Receivable, means the scheduled periodic payment of principal and,
if applicable, interest required to be made by the Obligor.

     

    “Seller”
means John Deere Receivables, Inc., a Nevada corporation, and its successors in
interest to the extent permitted hereunder.

     

    “Servicer”
means JDCC, as the servicer of the Receivables, and each successor to JDCC (in
the same capacity) pursuant to Section 7.03 or 8.02.

     

    “Servicer
Default” means an event specified in Section 8.01.

     

    “Servicer’s
Certificate” means an Officers’ Certificate of the Servicer delivered pursuant
to Section 4.09, substantially in the form of Schedule D.

     

    “Servicing
Criteria” shall mean the “servicing criteria” set forth in Item 1122(d) of
Regulation AB.

     

    “Servicing
Fee” means the fee payable to the Servicer for services rendered during the
respective Collection Period, determined pursuant to Section 4.08.

     

    “Servicing
Fee Rate” means 1.00% per annum.

     

    “Special
Payment Date” means July 2, 2010 with respect to the Class A-1 Notes only if any
of the Class A-1 Notes are outstanding after the Payment Date in June
2010.

     

    “Specified
Reserve Account Balance” means, except as otherwise provided in the following
paragraph, with respect to any Payment Date, the lesser of (a) $16,857,677,
which is 2.40% of the initial Note Value and (b) the outstanding principal
amount of the Notes immediately preceding such Payment Date less the Note
Monthly Principal Distributable Amount to be deposited in the Note Distribution
Account on such Payment Date.

     

    Upon
payment of all interest and principal due on the Notes, the Specified Reserve
Account Balance shall be zero.  The Specified Reserve Account Balance
may be reduced or the definition otherwise modified without the consent of the
Noteholders and the 

     

    
      
        
        

      

      
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    Certificateholder
provided that the Rating Agencies confirm in writing that such reduction or
modification will not result in the reduction or withdrawal of the then current
rating of any class of the Notes and provided, further, the Owner Trustee
obtains an Opinion of Counsel confirming that the reduction or modification will
not change the tax classification of the Notes as indebtedness.

     

    “Standard
& Poor’s” means Standard & Poor’s, a division of The McGraw-Hill
Companies, Inc., or any successor to the business of such division.

     

    “Subcontractor”
shall mean any vendor, subcontractor or other Person that is not responsible for
the overall servicing of Receivables but performs one or more discrete functions
identified in Item 1122(d) of Regulation AB with respect to the Receivables
under the direction or authority of the Indenture Trustee.

     

    “Sub-Servicer”
means Deere Credit Services, Inc., a Delaware corporation, and each successor to
Deere Credit Services, Inc. (in the same capacity) pursuant to Section
4.14.

     

    “Total
Distribution Amount” means, for each Payment Date, the sum of the aggregate
collections in respect of Receivables (including Liquidation Proceeds and
Purchase Amounts) received during the related Collection Period, plus Investment
Earnings, provided, that, in the event of a Special Payment Date, a portion of
the Total Distribution Amount for the July 2010 Payment Date shall be deposited
to the Trust Accounts on or before the Special Payment Date as provided in
Section 5.04(d) and the remaining Total Distribution Amount shall be distributed
on the July 2010 Payment Date as provided in Section 5.04(b).

     

    “Transfer
Date” means, with respect to any Payment Date, the Business Day preceding such
Payment Date.

     

    “Treasury
Regulations” means regulations, including proposed or temporary regulations,
promulgated under the Code.  References herein to specific provisions
of proposed or temporary regulations shall include analogous provisions of final
Treasury Regulations or other successor Treasury Regulations.

     

    “Trust”
means the Issuing Entity.

     

    “Trust
Account Property” means the Trust Accounts, all amounts and investments held
from time to time in any Trust Account (whether in the form of deposit accounts,
book-entry securities, uncertificated securities or otherwise), including the
Reserve Account Initial Deposit, and all proceeds of the foregoing.

     

    “Trust
Accounts” has the meaning assigned thereto in Section 5.01.

     

    “Trust
Agreement” means the Trust Agreement dated as of June 1, 2009, between the
Seller and the Owner Trustee, as the same may be amended and supplemented from
time to time.

     

    “Trust
Estate” means the Trust Estate (as defined in the Indenture).

     

    
      
        
        

      

      
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    “Trust
Officer” means, in the case of the Indenture Trustee, any officer within the
Corporate Trust Office of the Indenture Trustee who shall have direct
responsibility for the administration of the Indenture, including any Vice
President, Assistant Vice President, Secretary, Assistant Secretary or any other
officer of the Indenture Trustee customarily performing functions similar to
those performed by any of the above designated officers and also, with respect
to a particular matter, any other officer to whom such matter is referred
because of such officer’s knowledge of and familiarity with the particular
subject and, with respect to the Owner Trustee, any officer in the Corporate
Trust Services Department of the Owner Trustee with direct responsibility for
the administration of the Trust Agreement and the Basic Documents on behalf of
the Owner Trustee.

     

    “UCC”
means the Uniform Commercial Code.

     

    “Write-Down
Amount” means, for any Collection Period for any 180-day Receivable or
Repossessed Receivable, the excess of (a) the Principal Balance plus accrued and
unpaid interest of such Receivable as of the last day of the Collection Period
during which such Receivable became a 180-day Receivable or Repossessed
Receivable, as the case may be, over (b) the estimated realizable value of such
Receivable, as determined by the Servicer in accordance with its normal
servicing procedures for the related Collection Period, which amount may be
adjusted to zero by the Servicer in accordance with its normal servicing
procedures if such Receivable has ceased to be a 180-day Receivable as provided
in the definition of “180-day Receivable”.

     

    SECTION
1.02  Other Definitional
Provisions.  Capitalized terms used herein and not otherwise
defined herein have the meanings assigned to them in the Indenture.

     

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

     

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

     

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

     

    
      
        
        

      

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

     

    SECTION
1.03  Calculations.  For all
purposes of this Agreement, interest in respect of the Class A-1 Notes shall be
computed on the basis of a 360-day year and the actual number of days in the
related period of accrual.  Interest in respect of the Class A-1 Notes
shall accrue from and including the Closing Date or from and including the most
recent Payment Date to which interest has been paid to but excluding the current
Payment Date.  For the avoidance of doubt, if any Class A-1 Notes are
outstanding after the Payment Date in June 2010, interest on the Class A-1 Notes
will accrue from and including the Payment Date in June 2010 to but excluding
the Special Payment Date.  Interest in respect of the Class A-2 Notes,
the Class A-3 Notes and the Class A-4 Notes shall be computed on the basis of a
360-day year consisting of twelve 30-day months.  Interest on the
Class A-2 Notes, the Class A-3 Notes and the Class A-4 Notes in respect of a
Payment Date will accrue from and including the 15th day of
the month preceding such Payment Date (or the Closing Date in the case of the
first Payment Date) to and including the 14th day of
the month of such Payment Date.

     

     

    ARTICLE
II

     

    
      Conveyance
of Receivables

    

     

    SECTION
2.01  Conveyance of
Receivables.  In consideration of the Issuing Entity’s delivery
to or upon the order of the Seller of $672,432,949 the issuance to the Seller of
the Certificate and the waiver, termination and release set forth in 2.02 below,
the Seller does hereby sell, transfer, assign, set over and otherwise convey to
the Issuing Entity, without recourse (subject to the obligations
herein):

     

    (a)           all
right, title and interest of the Seller in and to the Receivables, and all
moneys due thereon, on or after the Cut-off Date;

     

    (b)           the
interest of the Seller in the security interests in the Financed Equipment
granted by Obligors pursuant to the Receivables and any other interest of the
Seller in the Financed Equipment;

     

    (c)           the
interest of the Seller in any proceeds with respect to the Receivables from
claims on any physical damage, credit life or disability insurance policies
covering Financed Equipment or Obligors;

     

    (d)           all
right, title and interest of the Seller in and to the Purchase Agreement,
including the right of the Seller to cause JDCC to repurchase Receivables from
the Seller under certain circumstances; and

     

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

     

    SECTION
2.02  Waiver.  The Issuing Entity
hereby waives, releases and terminates (i) any rights it may have in any
equipment (other than the Financed Equipment) as security for any obligations
owing to it under the Receivables, (ii) any rights it may have in any

     

    
      
        
        

      

      
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    property
as security for any Receivable other than the rights relating to the related
Financed Equipment and the proceeds thereof and (iii) any rights it may have to
apply moneys received under a receivable that was not sold to the Issuing Entity
pursuant to Section 2.01.  Notwithstanding anything to the contrary
contained herein, the foregoing in no way constitutes a waiver, release or
termination of any of the rights of the Issuing Entity with respect to the
Financed Equipment and the rights related to the Financed
Equipment.

     

     

    ARTICLE
III

     

    
      The
Receivables

    

     

    SECTION
3.01  Representations and
Warranties of Seller.  The Seller makes the following
representations and warranties as to the Receivables on which the Issuing Entity
is deemed to have relied in acquiring the Receivables.  Such
representations and warranties speak as of the execution and delivery of this
Agreement, but shall survive the sale, transfer and assignment of the
Receivables to the Issuing Entity and the pledge thereof to the Indenture
Trustee pursuant to the Indenture.

     

    (a)           Title.  It
is the intention of the Seller that the transfer and assignment herein
contemplated constitute a sale of the Receivables from the Seller to the Issuing
Entity and that the beneficial interest in and title to such Receivables not be
part of the debtor’s estate in the event of the filing of a bankruptcy petition
by or against the Seller under any bankruptcy law.  No Receivable has
been sold, transferred, assigned or pledged by the Seller to any Person other
than the Issuing Entity.  Immediately prior to the transfer and
assignment herein contemplated, the Seller had good and marketable title to each
Receivable, free and clear of all Liens and rights of others and, immediately
upon the transfer thereof, the Issuing Entity shall have good and marketable
title to each such Receivable, free and clear of all Liens and rights of others;
and the transfer has been perfected under the UCC.

     

    (b)           All Filings
Made.  All filings (including UCC filings) necessary in any
jurisdiction to give the Issuing Entity a first perfected ownership interest in
the Receivables, and to give the Indenture Trustee a first perfected security
interest therein, shall have been made.

     

    SECTION
3.02  Repurchase by Seller
upon Breach.  The Seller, the Servicer, the Sub-Servicer or the
Owner Trustee, as the case may be, shall inform the other parties to this
Agreement and the Indenture Trustee and JDCC promptly, in writing, upon the
discovery of any breach of the Seller’s representations and warranties made
pursuant to Section 3.01 or JDCC’s representations and warranties made pursuant
to Section 3.02(b) of the Purchase Agreement.  Unless any such breach
shall have been cured by the last day of the second month following the month of
the discovery thereof by the Owner Trustee or receipt by the Owner Trustee of
written notice from the Seller, the Servicer or the Sub-Servicer of such breach,
the Seller shall be obligated, and, if necessary, the Seller or the Owner
Trustee shall enforce the obligation of JDCC under the Purchase Agreement, to
repurchase any Receivable materially and adversely affected by any such breach
as of such last day (or, at the Seller’s option, the last day of the first month
following the month of the discovery).  In consideration of the
repurchase of the Receivable, the 

     

    
      
        
        

      

      
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    Seller
shall remit the Purchase Amount, in the manner specified in Section 5.03;
provided, however, that the obligation of the Seller to repurchase any
Receivable arising solely as a result of a breach of JDCC’s representations and
warranties pursuant to Section 3.02 (b) of the Purchase Agreement is subject to
the receipt by the Seller of the Purchase Amount from JDCC.  Subject
to the provisions of Section 6.03, the sole remedy of the Issuing Entity, the
Owner Trustee, the Indenture Trustee, the Noteholders or the Certificateholder
with respect to a breach of representations and warranties pursuant to Section
3.01 and the agreement contained in this Section shall be to require the Seller
to repurchase Receivables pursuant to this Section, subject to the conditions
contained herein, or to enforce JDCC’s obligation to the Seller to repurchase
such Receivables pursuant to the Purchase Agreement.  The Owner
Trustee shall have no duty to conduct any affirmative investigation as to the
occurrence of any condition requiring the repurchase of any Receivable pursuant
to this Section.

     

    SECTION
3.03  Custody of Receivable
Files.  To assure uniform quality in servicing the Receivables
and to reduce administrative costs, the Issuing Entity hereby appoints the
Servicer, and the Servicer hereby accepts such appointment, to act as the agent
and as custodian of the Issuing Entity and the Indenture Trustee of the
following documents or instruments which are hereby constructively delivered to
the Indenture Trustee, as pledgee of the Issuing Entity with respect to each
Receivable:

     

    (a)           the
original executed copy of the Receivable;

     

    (b)           the
original or a copy of the credit application fully executed by the
Obligor;

     

    (c)           the
original certificate of title (or a secured party copy thereof), the file
stamped copy of the UCC financing statement or such other documents that the
Seller or JDCC shall keep on file, in accordance with its customary procedures,
evidencing the security interest of Deere & Company or an affiliate of Deere
& Company in the Financed Equipment; and

     

    (d)           any
and all other documents that JDCC or the Seller shall keep on file, in
accordance with its customary procedures, relating to a Receivable, an Obligor
or Financed Equipment.

     

    SECTION
3.04  Duties of Servicer as
Custodian.

     

    (a)           Safekeeping.  The
Servicer shall hold the Receivable Files on behalf of the Issuing Entity and
maintain such accurate and complete accounts, records and computer systems
pertaining to each Receivable File as shall enable the Issuing Entity to comply
with this Agreement.  In performing its duties as custodian the
Servicer shall act with reasonable care, using that degree of skill and
attention that the Servicer exercises with respect to the receivable files
relating to all comparable receivables that the Servicer services for itself or
others.  The Servicer shall conduct, or cause to be conducted,
periodic audits of the Receivable Files held by it under this Agreement and of
the related accounts, records and computer systems, in such a manner as shall
enable the Issuing Entity or the Indenture Trustee to verify the accuracy of the
Servicer’s record keeping.  The Servicer shall promptly report to the
Issuing Entity and the Indenture Trustee any failure on its part to hold the
Receivable Files and maintain its accounts, 

     

    
      
        
        

      

      
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    records
and computer systems as herein provided and promptly take appropriate action to
remedy any such failure.  Nothing herein shall be deemed to require an
initial review or any periodic review by the Issuing Entity, the Owner Trustee
or the Indenture Trustee of the Receivable Files.

     

    (b)           Maintenance of and Access to
Records.  The Servicer shall maintain each Receivable File at
its office specified in Schedule B to this Agreement or at such other office as
shall be specified to the Issuing Entity and the Indenture Trustee by written
notice not later than 90 days after any change in location.  The
Servicer shall make available to the Issuing Entity and the Indenture Trustee or
their respective duly authorized representatives, attorneys or auditors a list
of locations of the Receivable Files and the related accounts, records and
computer systems maintained by the Servicer at such times as the Issuing Entity
or the Indenture Trustee shall instruct.

     

    (c)           Release of
Documents.  Upon instruction from the Indenture Trustee, the
Servicer shall release any Receivable File to the Indenture Trustee, the
Indenture Trustee’s agent, or the Indenture Trustee’s designee, as the case may
be, at such place or places as the Indenture Trustee may designate, as soon as
practicable.

     

    SECTION
3.05  Instructions; Authority
to Act.  The Servicer shall be deemed to have received proper
instructions with respect to the Receivable Files upon its receipt of written
instructions signed by a Trust Officer of the Indenture Trustee.

     

    SECTION
3.06  Custodian’s
Indemnification.  The Servicer as custodian shall indemnify the
Trust, the Owner Trustee and the Indenture Trustee and each of their officers,
directors and agents for any and all liabilities, obligations, losses,
compensatory damages, payments, costs or expenses of any kind whatsoever that
may be imposed on, incurred by or asserted against the Trust, the Owner Trustee
or the Indenture Trustee or any of their officers, directors and agents as the
result of any improper act or omission in any way relating to the maintenance
and custody by the Servicer as custodian of the Receivable Files; provided,
however, that the Servicer shall not be liable to the Trust or the Owner Trustee
for any portion of any such amount resulting from the willful misfeasance, bad
faith or negligence of the Owner Trustee and the Servicer shall not be liable to
the Trust or the Indenture Trustee for any portion of any such amount resulting
from the willful misfeasance, bad faith or negligence of the Indenture
Trustee.

     

    SECTION
3.07  Effective Period and
Termination.  The Servicer’s appointment as custodian shall
become effective as of the Cut-off Date and shall continue in full force and
effect until terminated pursuant to this Section.  If JDCC shall
resign as Servicer in accordance with the provisions of this Agreement or if all
of the rights and obligations of any Servicer shall have been terminated under
Section 8.01, the appointment of such Servicer as custodian shall be terminated
by the Indenture Trustee or by the Holders of Notes evidencing not less than 25%
of the Outstanding Amount of the Notes or, with the consent of Holders of the
Notes evidencing not less than 25% of the Outstanding Amount of the Notes, by
the Owner Trustee or by the Certificateholder, in the same manner as the
Indenture Trustee or such Holders may terminate the rights and obligations of
the Servicer under Section 8.01.  The Indenture Trustee or, with the
consent of the Indenture Trustee, the Owner Trustee may terminate the Servicer’s
appointment as 

     

    
      
        
        

      

      
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    custodian,
with cause, at any time upon written notification to the Servicer, and without
cause upon 30 days’ prior written notification to the Servicer.  As
soon as practicable after any termination of such appointment, the Servicer
shall deliver the Receivable Files to the Indenture Trustee or the Indenture
Trustee’s agent at such place or places as the Indenture Trustee may reasonably
designate.  The Servicer shall pay the fees of any other Person acting
as custodian of the Receivables Files.

     

     

    ARTICLE
IV

     

    
      Administration
and Servicing of Receivables

    

     

    SECTION
4.01  Duties of
Servicer.  The Servicer, as agent for the Issuing Entity (to
the extent provided herein), shall manage, service, administer and make
collections on the Receivables (other than Purchased Receivables) with
reasonable care, using that degree of skill and attention that the Servicer
exercises with respect to all comparable equipment receivables that it services
for itself or others.  The Servicer’s duties shall include
calculating, billing, collection and posting of all payments, responding to
inquiries of Obligors on such Receivables, investigating delinquencies,
reporting tax information to Obligors, accounting for collections, and
furnishing monthly and annual statements to the Owner Trustee and the Indenture
Trustee with respect to distributions.  Subject to the provisions of
Section 4.02, the Servicer shall follow its then current customary standards,
policies and procedures in performing its duties as Servicer.  Without
limiting the generality of the foregoing, the Servicer is authorized and
empowered to execute and deliver, on behalf of itself, the Issuing Entity, the
Owner Trustee, the Indenture Trustee, the Certificateholder and the Noteholders
or any of them, any and all instruments of satisfaction or cancellation, or
partial or full release or discharge, and all other comparable instruments, with
respect to such Receivables or to the Financed Equipment securing such
Receivables.  If the Servicer shall commence a legal proceeding to
enforce a Receivable, the Issuing Entity (in the case of a Receivable other than
a Purchased Receivable) shall thereupon be deemed to have automatically
assigned, solely for the purpose of collection, such Receivable to the
Servicer.  If in any enforcement suit or legal proceeding it shall be
held that the Servicer may not enforce a Receivable on the ground that it shall
not be a real party in interest or a holder entitled to enforce such Receivable,
the Owner Trustee shall, at the Servicer’s expense and direction, take steps to
enforce such Receivable, including bringing suit in its name or the name of the
Owner Trustee, the Indenture Trustee, the Certificateholder or the
Noteholders.  The Owner Trustee shall upon the written request of the
Servicer furnish the Servicer with any powers of attorney and other documents
reasonably necessary or appropriate to enable the Servicer to carry out its
servicing and administrative duties hereunder.

     

    SECTION
4.02  Collection of
Receivable Payments.  The Servicer shall make reasonable
efforts to collect all payments called for under the terms and provisions of the
Receivables as and when the same shall become due and shall follow such
collection procedures as it follows with respect to all comparable equipment
receivables that it services for itself or others.  In connection
therewith, the Servicer may grant extensions, rebates or adjustments on a
Receivable in accordance with its customary collection procedures with respect
to all comparable equipment receivables that it services for itself or others;
provided, however, that if the Servicer extends the date for final payment by
the Obligor of any Receivable beyond April 15, 2015, it shall promptly purchase
the Receivable from the Issuing Entity in accordance with the terms of

     

    
      
        
        

      

      
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    Section
4.07; provided, further, that the Servicer shall not extend the final Scheduled
Payment for the sole purpose of purchasing the Receivables from the Issuing
Entity.  The Servicer may in its discretion waive any additional
interest above the related APR due on late Scheduled Payments or any other fees
that may be collected in the ordinary course of servicing a
Receivable.  The Servicer shall not agree to any alteration of the
interest rate on any Receivable and shall not agree to waive the
repayment of the Amount Financed, or any portion thereof, on a
Receivable.  Notwithstanding anything in this Agreement to the
contrary, any Recoveries shall be paid to the Seller and the related Liquidated
Receivable shall be assigned by the Trust to the Seller.

     

    SECTION
4.03  Realization upon
Receivables.  On behalf of the Issuing Entity, the Servicer
shall use its best efforts, consistent with its customary servicing procedures,
to repossess or otherwise realize upon the Financed Equipment securing any
Receivable as to which the Servicer shall have determined pursuant to customary
servicing procedures that eventual payment in full is unlikely.  The
Servicer shall follow such customary and usual practices and procedures as it
shall deem necessary or advisable in its servicing of comparable equipment
receivables, which may include selling any Financed Equipment at public or
private sale.  The Servicer is hereby authorized to exercise its
discretion consistent with its customary servicing procedures in servicing
defaulted Receivables so as to maximize the net collections of such defaulted
Receivables including, without limitation, selling such defaulted
Receivables.  The Servicer shall not be liable for any such exercise
of its discretion made in good faith and in accordance with such servicing
procedures.  The foregoing shall be subject to the provision that, in
any case in which the Financed Equipment shall have suffered damage, consistent
with its customary servicing procedures the Servicer may but shall not be
required to expend funds in connection with the repair or the repossession of
such Financed Equipment.

     

    SECTION
4.04  Physical Damage
Insurance.  The Servicer shall, in accordance with its
customary servicing procedures, require that each Obligor shall have obtained
physical damage insurance covering the Financed Equipment as of the execution of
the Receivable.

     

    SECTION
4.05  Maintenance of Security
Interests in Financed Equipment.  The Servicer shall, in
accordance with its customary servicing procedures, take such steps as are
necessary to maintain perfection of the security interest created by each
Receivable in the related Financed Equipment.  The Servicer is hereby
authorized to take such steps as are necessary to re-perfect such security
interest on behalf of the Issuing Entity and the Indenture Trustee in the event
of the relocation of the Financed Equipment or for any other
reason.

     

    SECTION
4.06  Covenants of
Servicer.  The Servicer shall not release the Financed
Equipment securing any Receivable from the security interest granted by such
Receivable in whole or in part except in accordance with Section 4.03 above or
in the event of payment in full by the Obligor thereunder, nor shall the
Servicer impair the rights of the Issuing Entity, the Indenture Trustee, the
Certificateholder or the Noteholders in such Receivables, nor shall the Servicer
increase the number of scheduled payments due under a Receivable except in
accordance with the terms thereof or the terms of Section 4.02.

     

    SECTION
4.07  Purchase by Servicer of
Receivables upon Breach.  The Servicer (or the Sub-Servicer on
behalf of the Servicer) or the Owner Trustee shall inform the other party

     

    
      
        
        

      

      
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    and the
Indenture Trustee, the Seller and JDCC promptly, in writing, upon the discovery
of any breach of Section 4.02, 4.05 or 4.06.  Unless the breach shall
have been cured by the last day of the second month following such discovery
(or, at the Servicer’s election, the last day of the first following month), the
Servicer shall purchase any Receivable materially and adversely affected by such
breach.  If the Servicer takes any action pursuant to Section 4.02
that impairs the rights of the Issuing Entity, the Indenture Trustee, the
Certificateholder or the Noteholders in any Receivable or as otherwise provided
in Section 4.02, the Servicer shall purchase such Receivable.  In
consideration of the purchase of any such Receivable pursuant to either of the
two preceding sentences, the Servicer shall remit the Purchase Amount in the
manner specified in Section 5.03.  Subject to Section 7.02, the sole
remedy of the Issuing Entity, the Owner Trustee, the Indenture Trustee, the
Certificateholder or the Noteholders with respect to a breach pursuant to
Section 4.02, 4.05 or 4.06 shall be to require the Servicer to purchase
Receivables pursuant to this Section.  The Owner Trustee shall have no
duty to conduct any affirmative investigation as to the occurrence of any
condition requiring the purchase of any Receivable pursuant to this
Section.

     

    SECTION
4.08  Servicing
Fee.  On each Determination Date, the Servicer shall be
entitled to receive the Servicing Fee in respect of the immediately preceding
Collection Period equal to the product of (a) one twelfth of the Servicing Fee
Rate and (b) the Pool Balance as of the first day of such preceding Collection
Period subject to the order and priority set forth in Section 5.04; provided
that in the case of the first Payment Date, the Servicing Fee will be an amount
equal to the sum of (a) 1.00% per annum of the Pool Balance as of the Cut-off
Date (for the May Collection Period) and (b) 1.00% per annum of the Pool Balance
as of May 31, 2009 (for the June Collection Period).  The Servicer
shall also be entitled to that portion of interest due on a Receivable that is
in excess of interest at the related APR and that is due because of a late
Scheduled Payment, and other administrative fees or similar charges allowed by
applicable law or the Receivable with respect to Receivables, collected (from
whatever source) on the Receivables.

     

    SECTION
4.09  Servicer’s
Certificate.  On each Determination Date, the Servicer shall
deliver to the Owner Trustee, the Indenture Trustee and the Seller, with a copy
to the Rating Agencies, a Servicer’s Certificate containing all information
necessary to make the distributions pursuant to Sections 5.04 and 5.05 for the
Collection Period preceding the date of such Servicer’s
Certificate.  Neither the Owner Trustee nor the Indenture Trustee
shall be required to determine, confirm or recalculate the information contained
in the Servicer’s Certificate.

     

    SECTION
4.10  Annual Statement as to
Compliance; Notice of Default.

     

    (a)           The
Servicer shall deliver, and if required under Regulation AB shall cause the
Sub-Servicer to deliver, to the Issuing Entity, the Owner Trustee, the Seller
and the Indenture Trustee, on or before January 15 of each year (or by such
earlier date as specified in writing by the Seller as will permit the timely
filing of the Trust’s Form 10-K) a statement of compliance signed by an
authorized officer of the Servicer, providing such information as required under
Item 1123 of Regulation AB.

     

    (b)           The
Servicer shall deliver, to the Issuing Entity, the Owner Trustee, the Seller,

     

    
      
        
        

      

      
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    the
Indenture Trustee and the Rating Agencies, promptly after having obtained
knowledge thereof, but in no event later than five Business Days thereafter,
written notice in an Officer’s Certificate of any event which with the giving of
notice or lapse of time, or both, would become a Servicer Default under Section
8.01(a) or (b).

     

    SECTION
4.11  Report on Assessment of
Compliance and Annual Independent Certified Public Accountants’
Report.

     

    (a)           The
Servicer shall deliver, and if required under Regulation AB shall cause the
Sub-Servicer to deliver, to the Issuing Entity, the Owner Trustee, the Seller
and the Indenture Trustee on or before January 15 of each year (or by such
earlier date as specified in writing by the Seller as will permit the timely
filing of the Trust’s Form 10-K), and the Indenture Trustee shall deliver to the
Depositor and the Servicer on or before January 15 of each year that the Issuing
Entity is required to file Exchange Act Reports (or by such earlier date as
specified in writing by the Seller as will permit the timely filing of the
Trust’s Form 10-K), a report signed by an authorized officer of the Servicer,
the Sub-Servicer or the Indenture Trustee, as applicable regarding the
Servicer’s, Sub-Servicer’s or Indenture Trustee’s, as applicable, assessment of
compliance with the applicable servicing criteria specified in Item 1122 of
Regulation AB during the immediately preceding fiscal year, in the form
specified under Rules 13a-18 and 15d-18 of the Exchange Act (or any successor
provision).  Such report signed by the Indenture Trustee shall address
each of the Servicing Criteria specified in Appendix A hereto (provided that
such certification may be revised after the date of this Agreement as agreed by
the Seller and the Indenture Trustee to reflect any guidance with respect to
such criteria from the Commission).  Upon request of the Seller, the
Indenture Trustee shall deliver to the Depositor and the Servicer on or before
the date that is 75 days after the end of the Issuing Entity’s fiscal year a
copy of the assessment of compliance with the Servicing Criteria specified in
Appendix A hereto most recently prepared by the Indenture Trustee relating to
the Indenture Trustee’s servicing platform with respect to asset-backed
securities that are backed by assets of the type backing the Notes issued by the
Issuing Entity.

     

    (b)           The
Servicer shall cause a firm of registered public accountants, which may also
render other services to the Servicer, the Seller, JDCC or any other Affiliate
of Deere, to deliver to the Issuing Entity, the Owner Trustee and the Indenture
Trustee, on or before January 15 of each year (or by such earlier date as
specified in writing by the Seller as will permit the timely filing of the
Trust’s 10-K), and the Indenture Trustee shall cause a firm of registered public
accountants, which may also render other services to the Indenture Trustee or
its Affiliates, to deliver to the Depositor and the Servicer on or before
January 15 of each year that the Issuing Entity is required to file Exchange Act
Reports (or by such earlier date as specified in writing by the Seller as will
permit the timely filing of the Trust’s 10-K) a report that attests to, and
reports on, the Servicer’s, Sub-Servicer’s (if required under Regulation AB) or
Indenture Trustee’s, as applicable assessment of compliance delivered pursuant
to Section 4.11(a), which attestation report shall be made in accordance with
the requirements of Rules 1-02(a)(3) and 2-02(g) of Regulation S-X (or any
successor provision). Upon request of the Seller, the Indenture Trustee shall
deliver to the Depositor and the Servicer on or before the date that is 75 days
after the end of the Issuing Entity’s fiscal year a copy of the report by a firm
of registered public accountants that attests to, and reports on, the Indenture
Trustee’s assessment of compliance delivered pursuant to the last sentence of
Section 4.11(a) above.

     

    
      
        
        

      

      
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    SECTION
4.12  Access to Certain
Documentation and Information Regarding Receivables.  The
Servicer shall provide to the Certificateholder and Noteholders access to the
Receivable Files in such cases where the Certificateholder or Noteholders shall
be required by applicable statutes or regulations to review such
documentation.  Access shall be afforded without charge, but only upon
reasonable request and during the normal business hours at the respective
offices of the Servicer.  Nothing in this Section shall affect the
obligation of the Servicer to observe any applicable law prohibiting disclosure
of information regarding the Obligors and the failure of the Servicer to provide
access to information as a result of such obligation shall not constitute a
breach of this Section.

     

    SECTION
4.13  Servicer
Expenses.  The Servicer shall be required to pay all expenses
incurred by it in connection with its activities hereunder, including fees and
disbursements of independent accountants, fees and disbursements incurred in
connection with collection and enforcement of Receivables (other than amounts
incurred in connection with the liquidation of a Receivable which amounts shall
be netted against the Liquidation Proceeds, if any), taxes imposed on the
Servicer and expenses incurred in connection with distributions and reports to
the Certificateholder and the Noteholders.

     

    SECTION
4.14  Appointment of
Sub-Servicer.  The Servicer hereby appoints Deere Credit
Services, Inc. as Sub-Servicer and may at any time appoint a successor
Sub-Servicer to perform all or any portion of its obligations as Servicer
hereunder; provided, however, that the Rating Agency Condition shall have been
satisfied in connection with the appointment of a successor Sub-Servicer;
provided further that the Servicer shall remain obligated and be liable to the
Issuing Entity, the Owner Trustee, the Indenture Trustee, the Certificateholder
and the Noteholders for the servicing and administering of the Receivables in
accordance with the provisions hereof without diminution of such obligation and
liability by virtue of the appointment of such Sub-Servicer and to the same
extent and under the same terms and conditions as if the Servicer alone were
servicing and administering the Receivables.  The fees and expenses of
the Sub-Servicer shall be as agreed between the Servicer and its Sub-Servicer
from time to time and none of the Issuing Entity, the Owner Trustee, the
Indenture Trustee, the Certificateholder or the Noteholders shall have any
responsibility therefor.  If at any time the Sub-Servicer shall fail
to comply with any of its obligations under Section 4.16 of this Agreement
during the period that the Seller is required to file Exchange Act Reports with
respect to the Trust and such failure is not remedied within the lesser of ten
calendar days and the period of time in which the related Exchange Act Report is
required to be filed (without taking into account any extensions), then the
Seller may remove the Sub-Servicer.

     

    SECTION
4.15  Information to be
Furnished in the Event of Resignation or Termination.  In the
event the Servicer, the Sub-Servicer, the Indenture Trustee or any Reporting
Subcontractor is terminated or resigns during the term of this Agreement, such
Person shall provide the documents and information pursuant to Section 4.10 and
Section 4.11 with respect to the period of time it was subject to this Agreement
or provided services with respect to the Issuing Entity or the
Receivables.

     

    SECTION
4.16  Exchange Act
Reports  (a)  So long as the Seller is required to
file Exchange Act Reports with respect to the Issuing Entity, no later than each
Payment Date, each of the Indenture Trustee, the Owner Trustee and the Servicer
shall notify (and the Servicer 

     

    
      
        
        

      

      
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    shall
cause each Reporting Subcontractor and the Sub-Servicer to notify ) the Seller
of any Form 10-D Disclosure Item with respect to such Person, together with a
description of any such Form 10-D Disclosure Item in form and substance
reasonably acceptable to the Seller.  In addition to such information
as the Servicer is obligated to provide pursuant to other provisions of this
Agreement, if so requested by the Seller, the Servicer shall provide (and shall
cause the Sub-Servicer to provide) such information which is available to the
Servicer, without unreasonable effort or expense, regarding the performance or
servicing of the Receivables as is reasonably required to facilitate preparation
of distribution reports in accordance with Item 1121 of Regulation
AB.  Such information shall be provided concurrently with the
statements to Noteholders pursuant to Section 5.06, commencing with the first
such report due not less than five Business Days following such
request.

     

    (b)  So
long as the Depositor is required to file Exchange Act Reports with respect to
the Issuing Entity, each of the Indenture Trustee, the Owner Trustee and the
Servicer shall promptly notify the Seller, but in no event later than one (1)
Business Day after its occurrence, of any Reportable Event (in the case of the
Owner Trustee, only an event in clause (d) of the definition of Reportable
Event) of which such Person (or, in the case of the Indenture Trustee or Owner
Trustee, a Responsible Officer) has actual knowledge.  Each Person
shall be deemed to have actual knowledge of any such event to the extent that it
relates to such Person or any action or failure to act by such
Person.

     

    (c)  So
long as the Depositor is required to file Exchange Act Reports, (i) no later
than January 1 of each year commencing in 2010, the Depositor shall provide a
list of the Item 1119 Parties to the Owner Trustee, Indenture Trustee and
Servicer and (ii) no later than January 15 of each year, commencing in 2010, the
Indenture Trustee, the Owner Trustee and the Servicer shall notify the Depositor
of any Form 10-K Disclosure Item, together with a description of any such Form
10-K Disclosure Item in form and substance reasonably acceptable to the
Depositor.

     

    (d)  The
Indenture Trustee, the Owner Trustee and the Servicer shall reasonably cooperate
with the Depositor in connection with the satisfaction of the Depositor’s
reporting requirements under the Exchange Act with respect to the
Trust.  In addition to the information specified in this Section 4.16,
if so requested by the Depositor for the purpose of satisfying its reporting
obligation under the Exchange Act, the Indenture Trustee, the Owner Trustee and
the Servicer shall provide the Depositor with (a) such information which is
available to such Person without unreasonable effort or expense and within such
timeframe as may be reasonably requested by the Depositor to comply with the
Depositor’s reporting obligations under the Exchange Act and (b) to the extent
such Person is a party (and the Depositor is not a party) to any agreement or
amendment required to be filed, copies of such agreement or amendment in
EDGAR-compatible form.  Each of the Servicer, the Indenture Trustee
and the Owner Trustee acknowledges that interpretations of the requirements of
Regulation AB may change over time, whether due to interpretive guidance
provided by the Commission or its staff, consensus among participants in the
asset-backed securities markets, advice of counsel, or otherwise, and agrees to
comply with reasonable requests made by the Depositor in good faith for delivery
of information under these provisions on the basis of evolving interpretations
of Regulation AB.

     

    (e)  Each
of the Indenture Trustee and the Owner Trustee represents that (i) there are no
affiliations relating to such Person with respect to any 1119 Party, (ii) there
are no 

     

    
      
        
        

      

      
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    relationships
or transactions with respect to any 1119 Party and such Person that are outside
the ordinary course of business or on terms other than would be obtained in an
arm’s length transaction with an unrelated third party, apart from the
transactions contemplated under the transaction documents, and that are material
to the investors’ understanding of the Notes and (iii) there are no legal
proceedings pending, or known to be contemplated by governmental authorities,
against such Person, or of which the property of such Person is subject, that is
material to the Noteholders.

     

     

    ARTICLE
V

     

    
      Distributions;
Reserve Account;

      Statements
to the Certificateholder and Noteholders

    

     

    SECTION
5.01  Establishment of Trust
Accounts.

     

    (a)           (i)  The
Servicer, for the benefit of the Noteholders and the Certificateholder, shall
establish and maintain in the name of the Indenture Trustee an Eligible Deposit
Account (the “Collection Account”), bearing a designation clearly indicating
that the funds deposited therein are held for the benefit of the Noteholders and
the Certificateholder.

     

    (ii)           The
Servicer, for the benefit of the Noteholders, shall establish and maintain in
the name of the Indenture Trustee an Eligible Deposit Account (the “Note
Distribution Account”), bearing a designation clearly indicating that the funds
deposited therein are held for the benefit of the Noteholders.

     

    (iii)           The
Servicer, for the benefit of the Noteholders and the Certificateholder, shall
establish and maintain in the name of the Indenture Trustee an Eligible Deposit
Account (the “Reserve Account”), bearing a designation clearly indicating that
the funds deposited therein are held for the benefit of the Noteholders and the
Certificateholder.

     

    (b)           Funds
on deposit in the Collection Account, the Note Distribution Account and the
Reserve Account (collectively the “Trust Accounts”) shall be invested by the
Indenture Trustee pursuant to the Servicer’s written instruction in Eligible
Investments selected by the Servicer; provided, however, it is understood and
agreed that the Indenture Trustee shall not be liable for any loss arising from
such investment in Eligible Investments; provided further none of the funds
deposited in the Trust Accounts shall be invested in an Eligible Investment or
Eligible Investments issued by the Servicer or the Seller for a period of 30
days following the Closing Date.  All such Eligible Investments shall
be held by the Indenture Trustee for the benefit of the Noteholders and the
Certificateholder, as applicable; provided, however, that on each Payment Date
all interest and other investment income (net of losses and investment expenses)
on funds on deposit in the Trust Accounts shall be deposited into the Collection
Account and shall be deemed to constitute a portion of the Total Distribution
Amount.  Other than as permitted by the Rating Agencies, funds on
deposit in the Trust Accounts shall be invested in Eligible Investments that
will mature so that such funds (or in the case of the Special Payment Date, the
portion of such funds needed to make the final payment on the Class A-1 Notes
pursuant to 

     

    
      
        
        

      

      
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    Section
5.04(d)) will be available at the close of business on the Transfer Date
preceding the following Payment Date or, in the case of the Note Distribution
Account and the Reserve Account, the following Payment Date.  Funds
deposited in a Trust Account on a Transfer Date which immediately precedes a
Payment Date are not required to be invested overnight.

     

    (c)           (i)  The
Indenture Trustee shall possess all right, title and interest in all funds on
deposit from time to time in the Trust Accounts and in all proceeds thereof
(including all income thereon) and all such funds, investments, proceeds and
income shall be part of the Trust Estate.  The Trust Accounts shall be
under the sole dominion and control of the Indenture Trustee for the benefit of
the Noteholders and the Certificateholder, as the case may be.  If, at
any time, any of the Trust Accounts ceases to be an Eligible Deposit Account,
the Indenture Trustee (or the Servicer on its behalf) shall within 10 Business
Days (or such longer period, not to exceed 30 calendar days, as to which each
Rating Agency may consent) establish a new Trust Account as an Eligible Deposit
Account and shall transfer any cash and/or any investments to such new Trust
Account.  So long as U.S. Bank National Association is an Eligible
Institution, any Trust Account shall be maintained with it in an Eligible
Deposit Account.

     

    (ii)           With
respect to the Trust Account Property, the Indenture Trustee agrees, by its
acceptance hereof, that:

     

    (A)           any
Trust Account Property that is held in “deposit accounts” (as defined in Section
9-102(a)(29) of the UCC) shall be held solely in the Eligible Deposit Accounts
and (1) each such Eligible Deposit Account shall be subject to the exclusive
custody and control of the Indenture Trustee, the Indenture Trustee shall have
sole signature authority with respect thereto and to the extent the Indenture
Trustee ceases to be an Eligible Institution, the Indenture Trustee shall be the
related Eligible Institution’s “customer” and shall have “control” (in each case
within the meaning of Section 9-104 of the UCC) with respect to such Eligible
Deposit Account, (2) the Eligible Institution at which such Eligible Deposit
Account is maintained shall be a “bank” as defined in Section 9-102(a)(8) of the
UCC and shall agree to maintain such Eligible Deposit Account as a “deposit
account” as such term is defined in Section 9-102(a)(29) of the UCC, and (3) the
“bank’s jurisdiction” (within the meaning of Section 9-304 of the UCC) with
respect to such Eligible Deposit Account shall be the State of New
York;

     

    (B)           any
Trust Account Property that is held in “securities accounts” (as defined in
Section 8-501(a) of the UCC) shall be held solely in Eligible Deposit Accounts;
and (1) the Eligible Institution at which each such Eligible Deposit Account is
maintained shall be a “securities intermediary” as defined in Section
8-102(a)(14) of the UCC and shall agree to maintain such Eligible Deposit
Account as a “securities account” as such term is defined in Section 8-501(a) of
the UCC, (2) the Eligible Institution at which such Eligible Deposit Account is
maintained shall treat the Indenture Trustee as entitled to exercise the rights
that comprise any “financial asset” (as defined in Section 8-102(a)(9) of the
UCC) credited to the account, and if at any time such Eligible Institution shall
receive an “entitlement order” (within the meaning of Section 8-102(a)(8) of the
UCC) issued by the Indenture Trustee and relating to such Eligible Deposit
Account, such Eligible Institution shall comply with such entitlement order
without further consent by the Issuing Entity or any other Person, (3) the
Eligible Institution at which such Eligible Deposit Account is maintained shall
agree with the Indenture Trustee that each item of property (whether investment
property, financial asset, security, instrument or cash) 

     

    
      
        
        

      

      
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    credited
to such Eligible Deposit Account shall be treated as a “financial asset” within
the meaning of Section 8-102(a)(9) of the UCC, (4) the “securities
intermediaries’ jurisdiction” (within the meaning of Section 8-110 of the UCC)
with respect to such Eligible Deposit Account shall be the State of New York and
(5) the Eligible Institution at which such Eligible Deposit Account is
maintained shall agree with the Indenture Trustee that in the event that such
securities intermediary has or subsequently obtains by agreement, by operation
of law or otherwise, a security interest in such Eligible Deposit Account or any
financial asset credited thereto, the securities intermediary agrees that such
security interest shall be subordinate to the security interest of the Indenture
Trustee and that the financial assets and other items deposited to such an
Eligible Deposit Account will not be subject to deduction, set-off, banker’s
lien, or any other right in favor of any person other than the Indenture
Trustee;

     

    (C)           any
Trust Account Property that is of the type described in paragraph (a) or (b) of
the definition of “Delivery” shall be delivered to the Indenture Trustee in
accordance with paragraph (a) or (b), as applicable, of the definition of
“Delivery”, and shall be held as described in such paragraph;

     

    (D)           any
Trust Account Property that is a book-entry security held through the Federal
Reserve System pursuant to Federal book-entry regulations shall be delivered in
accordance with paragraph (c) of the definition of “Delivery” and shall be
maintained by the Indenture Trustee, pending maturity or disposition, through
continued book-entry registration of such Trust Account Property as described in
such paragraph; and

     

    (E)           any
Trust Account Property that is an “uncertificated security” under Article 8 of
the UCC and that is not governed by clause (C) above shall be delivered to the
Indenture Trustee in accordance with paragraph (d) of the definition of
“Delivery” and shall be maintained by the Indenture Trustee, pending maturity or
disposition, through continued registration of the Indenture Trustee’s (or its
nominee’s) ownership of such security.

     

    (iii)           The
Servicer shall have the power, revocable by the Indenture Trustee or by the
Owner Trustee with the consent of the Indenture Trustee, to instruct the
Indenture Trustee to make withdrawals and payments from the Trust Accounts (to
the extent such amounts are property of the Issuing Entity) for the purpose of
permitting the Servicer or the Owner Trustee to carry out its respective duties
hereunder or permitting the Indenture Trustee to carry out its duties under the
Indenture.

     

    SECTION
5.02  Collections.  So long as (i)
JDCC is the Servicer, (ii) a Servicer Default shall not have occurred and be
continuing and (iii) JDCC’s unsecured, non-guaranteed short term debt maintains
a rating of at least A-1 by Standard & Poor’s and Prime-1 by Moody’s, the
Servicer shall remit to the Collection Account all payments by or on behalf of
the Obligors with respect to the Receivables (other than Purchased Receivables),
all Liquidation Proceeds (exclusive of Recoveries, which shall be applied in
accordance with Section 4.02) and collections (as collected during each Fiscal
Month) to the Collection Account, not less than one Business Day prior to the
15th day of the calendar month following such Fiscal Month (or, if such Fiscal
Month ends in the early part of a calendar month, then the 15th day of such
calendar month in which such Fiscal Month ends), provided, that, in the event of
a Special Payment Date, the Servicer shall remit to the Collection Account such
collections not less than one Business 

     

    
      
        
        

      

      
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    Day prior
to the Special Payment Date, provided further, that, with respect to the first
Payment Date in July 2009, the Servicer shall remit to the Collection Account
such collections not less than one Business Day prior to July 15,
2009.  Otherwise, the Servicer shall remit, such collections within
two Business Days of receipt thereof.  For purposes of this Article V
the phrase “payments by or on behalf of Obligors” shall mean payments made with
respect to the Receivables by persons other than the Servicer or
JDCC.

     

    SECTION
5.03  Additional
Deposits.  The Servicer and the Seller shall deposit or cause
to be deposited in the Collection Account the aggregate Purchase Amount with
respect to Purchased Receivables and the Servicer shall deposit therein all
amounts to be paid under Section 9.01(a).  The Servicer will deposit
the aggregate Purchase Amount with respect to Purchased Receivables when such
obligations are due pursuant to Section 4.07, unless the Servicer shall not be
required to make deposits within two Business Days of the receipt of collections
from Obligors pursuant to Section 5.02, in which case deposits of Purchased
Amounts shall be made on the Transfer Date.

     

    SECTION
5.04  Distributions.

     

    (a)           On
each Determination Date, the Servicer shall calculate the amounts to be
deposited in the Note Distribution Account and the Certificate Distribution
Account.

     

    (b)           On
the second Business Day prior to each Payment Date, the Servicer shall instruct
the Indenture Trustee in writing in substantially the form of Schedule G hereto
(based on the information contained in the Servicer’s Certificate delivered on
the related Determination Date pursuant to Section 4.09) to make deposits and
distributions to the Servicer or the Administrator or distribute to the
applicable Trust Account or Certificate Distribution Account by 12:00 noon (New
York time) in the case of the Trust Accounts and 11:00 A.M. (New York time) in
the case of the Certificate Distribution Account, in each case on such Payment
Date.  Distributions from the Total Distribution Amount shall be made
by the Indenture Trustee, to the extent available, in the following order of
priority:

     

    (i)           to
the Servicer (if JDCC or an Affiliate is not the Servicer), from the Total
Distribution Amount, the Servicing Fee and all unpaid Servicing Fees from prior
Collection Periods:

     

    (ii)           to
the Administrator under the Administration Agreement, from the Total
Distribution Amount remaining after the application of clause (i), the
Administration Fee and all unpaid Administration Fees from prior Collection
Periods;

     

    (iii)          to
the Note Distribution Account, from the Total Distribution Amount remaining
after the application of clauses (i) and (ii), the accrued and unpaid interest
on the Notes for such Payment Date;

     

    (iv)          to
the Note Distribution Account, from the Total Distribution Amount remaining
after the application of clauses (i), (ii) and (iii), the Note Monthly Principal
Distributable Amount:

     

    
      
        
        

      

      
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    (v)           to
the Reserve Account, from the Total Distribution Amount remaining after the
application of clauses (i), (ii), (iii) and (iv) the amount, if any, necessary
to increase the amounts on deposit in the Reserve Account to the Specified
Reserve Account Balance;

     

    (vi)           to
the Servicer (if JDCC or an Affiliate is the Servicer), from the Total
Distribution Amount remaining after the application of clauses (i), (ii), (iii),
(iv) and (v) the Servicing Fee and all unpaid Servicing Fees from prior
Collection Periods;

     

    (vii)          to
the Indenture Trustee, from the Total Distribution Amount remaining after the
application of clauses (i), (ii), (iii), (iv), (v) and (vi), any unpaid amounts
due to the Indenture Trustee under Section 7.02 hereof and Section 6.07 of the
Indenture;

     

    (viii)         to
the Owner Trustee, from the Total Distribution Amount remaining after the
application of clauses (i), (ii), (iii), (iv), (v), (vi) and (vii), any unpaid
amounts due to the Owner Trustee under Section 7.02 hereof and Sections 8.01 and
8.02 of the Trust Agreement;

     

    (ix)           to
the Certificate Distribution Account, from the Total Distribution Amount
remaining after the application of clauses (i), (ii), (iii), (iv), (v), (vi),
(vii) and (viii) the Certificate Monthly Principal Distributable Amount, if any;
and

     

    (x)           to
the Reserve Account, from the Total Distribution Amount remaining after the
application of clauses (i), (ii), (iii), (iv), (v), (vi), (vii), (viii) and (ix)
the Total Distribution Amount remaining.

     

    (c)           With
respect to any unpaid amount due to the Indenture Trustee or the Owner Trustee,
as applicable, for which payment is sought by the Indenture Trustee or the Owner
Trustee, as applicable, pursuant to Section 5.04(b)(vii) or Section
5.04(b)(viii), respectively, the Indenture Trustee or the Owner Trustee, as
applicable, shall provide written notice to the Servicer at least five Business
Days prior to the Payment Date on which payment of such unpaid amount is sought,
together with such information regarding such unpaid amounts as the Servicer may
reasonably request.  Notwithstanding anything to the contrary
contained herein, no amount due to the Indenture Trustee or the Owner Trustee,
as applicable, will be eligible for payment under Section 5.04(b)(vii) or
Section 5.04(b)(viii), respectively, or this Section 5.04(c) unless such amount
remains unpaid for more than 30 calendar days after delivery to the Servicer by
the Indenture Trustee or the Owner Trustee, as applicable, of demand for
payment.

     

    (d)           Notwithstanding
anything to the contrary contained herein, in the event of a Special Payment
Date, the instructions provided by the Servicer pursuant to Section 5.04(b)
shall (x) be given two Business Days prior to the Special Payment Date and (y)
specify that on the Special Payment Date distributions shall be made to the
Trust Accounts no later than 12:00 noon (New York time) in respect of the Class
A-1 Notes.  The portion of the Total Distribution Amount deposited to
the Trust Accounts in respect of the Class A-1 Notes on the Special Payment Date
shall be calculated in the order and priority set forth in Section 5.04(b) as
though such amounts were distributed on the July 2010 Payment Date.

     

    SECTION
5.05  Reserve
Account.

     

    
      
        
        

      

      
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    (a)           On
the Closing Date, the Seller shall deposit the Reserve Account Initial Deposit
into the Reserve Account.  The Servicer shall determine the Specified
Reserve Account Balance for each Payment Date.

     

    (b)           (i)  If
the amount on deposit in the Reserve Account on each Payment Date (after giving
effect to all deposits or withdrawals therefrom on such Payment Date pursuant to
Section 5.04 and Section 5.05(c)) is greater than the Specified Reserve Account
Balance for such Payment Date, the Servicer shall instruct the Indenture Trustee
to distribute such excess in the Reserve Account to the Seller.

     

    (i)           on
the date on which all interest on and principal of the Notes have been paid in
full, the Servicer shall instruct the Indenture Trustee to distribute the
Reserve Account balance to the Seller.

     

    (ii)           Amounts
properly distributed to the Seller pursuant to this Section 5.05(b) shall be
deemed released from the Trust and the security interest therein granted to the
Indenture Trustee, and the Seller shall in no event thereafter be required to
refund any such distributed amounts.

     

    (c)           In
the event that the Noteholders’ Distributable Amount for a Payment Date exceeds
the amount deposited into the Note Distribution Account pursuant to Section
5.04(b)(iii) and (iv) on such Payment Date, the Servicer shall instruct the
Indenture Trustee to withdraw from the Reserve Account on such Payment Date, to
the extent of funds available therein, an amount equal to such excess and
deposit such amount into the Note Distribution Account.

     

    SECTION
5.06  Statements to the
Certificateholder and Noteholders.

     

    (a)           On
the second Business Day preceding each Payment Date, the Servicer shall provide
to the Indenture Trustee (with a copy to the Rating Agencies), for the Indenture
Trustee to make available on its website at www.usbank.com/abs on the Payment
Date, and to the Owner Trustee, for the Owner Trustee to forward to the
Certificateholder of record, a statement substantially in the form of Schedule E
or Schedule F, as applicable, setting forth at least the following information
as to the Notes and the Certificate to the extent applicable:

     

    (i)           the
amount of such distribution allocable to principal;

     

    (ii)           the
amount of such distribution allocable to interest;

     

    (iii)           the
Pool Balance, Note Value and Pool Face Amount as of the close of business on the
last day of the preceding Collection Period;

     

    (iv)           (A)
the outstanding principal balance of (1) the Class A-1 Notes, (2) the Class A-2
Notes, (3) the Class A-3 Notes and (4) the Class A-4 Notes and (B) the
Certificate Balance, in each case after giving effect to payments allocated to
principal reported under (i) above;

     

    (v)           the
amount of the Servicing Fee paid to the Servicer with respect to the related
Collection Period;

     

    
      
        
        

      

      
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    (vi)           the
amount of the Administration Fee paid to the Administrator with respect to such
Collection Period;

     

    (vii)          the
aggregate amount of the Purchase Amounts for Purchased Receivables with respect
to the related Collection Period;

     

    (viii)         the
balance of the Reserve Account on such Payment Date, after giving effect to
distributions made on such Payment Date, and the Specified Reserve Account
Balance for such Payment Date; and

     

    (ix)           the
Face Amount of Receivables with any Scheduled Payments 60 days or more past due,
and such amount as a percentage of the Pool Face Amount, as of the close of
business on the last day of the preceding Collection Period.

     

    (b)           Notwithstanding
anything to the contrary contained herein, in the event of a Special Payment
Date, the certificate delivered pursuant to Section 5.06(a) shall be delivered
two Business Days prior to the Special Payment Date and shall reflect all
amounts specified in Section 5.06(a) with respect to the Special Payment Date
and the July 2010 Payment Date.

     

    (c)           Each
amount set forth pursuant to subclause (i), (ii) or (iv) of clause 5.06(a) shall
be expressed as a dollar amount per $1,000 of original principal balance of a
Note.

     

    Within
the prescribed period of time for tax reporting purposes after the end of each
calendar year during the term of the Indenture, the Indenture Trustee shall mail
to each Person who at any time during such calendar year shall have been a
Noteholder and received any payment thereon, a statement containing the amounts
described in (i) and (ii) (other than information relating to the Note Interest
Rates) above and any other information required by applicable tax laws, for the
purposes of such Noteholder’s preparation of Federal income tax
returns.

     

    The
Indenture Trustee shall only be required to provide to the Noteholders the
information furnished to it by the Servicer.

     

    SECTION
5.07  Net
Deposits.  As an administrative convenience, unless the
Servicer is required to remit collections within two Business Days of their
receipt, the Servicer will be permitted to make the deposit of collections on
the Receivables and Purchase Amounts for or with respect to the Collection
Period net of distributions to be made to the Servicer with respect to the
Collection Period.  The Servicer, however, will account to the Owner
Trustee, the Indenture Trustee, the Noteholders and the Certificateholder as if
all deposits, distributions and transfers were made individually.

     

     

    ARTICLE
VI

     

    
      The
Seller

    

     

    SECTION
6.01  Representations of
Seller.  The Seller makes the following representations on
which the Issuing Entity is deemed to have relied in acquiring the
Receivables.  The representations speak as of the execution and
delivery of this Agreement and 

     

    
      
        
        

      

      
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    shall
survive the sale of the Receivables to the Issuing Entity and the pledge thereof
to the Indenture Trustee pursuant to the Indenture.

     

    (a)           Organization and Good
Standing.  The Seller is duly organized and validly existing as
a corporation in good standing under the laws of the State of Nevada, with the
power and authority to own its properties and to conduct its business as such
properties are currently owned and such business is presently conducted, and had
at all relevant times, and has, the power, authority and legal right to acquire
and own the Receivables.

     

    (b)           Due
Qualification.  The Seller is duly qualified to do business as
a foreign corporation in good standing, and has obtained all necessary licenses
and approvals in all jurisdictions in which the failure to so qualify or to
obtain such license or approval would render any Receivable unenforceable that
would otherwise be enforceable by the Seller, the Sub-Servicer or the Owner
Trustee.

     

    (c)           Power and
Authority.  The Seller has the power and authority to execute
and deliver this Agreement and to carry out its terms; the Seller has full power
and authority to sell and assign the property to be sold and assigned to and
deposited with the Issuing Entity and the Seller and shall have duly authorized
such sale and assignment to the Issuing Entity by all necessary corporate
action; and the execution, delivery and performance of this Agreement have been
duly authorized by the Seller by all necessary corporate action.

     

    (d)           Binding
Obligation.  This Agreement constitutes a legal, valid and
binding obligation of the Seller enforceable in accordance with its terms except
that such enforcement may be subject to bankruptcy, insolvency, reorganization,
moratorium or other similar laws now or hereafter in effect relating to
creditors’ rights generally and the remedy of specific performance and
injunctive relief may be subject to certain equitable defenses and to the
discretion of the court before which any proceeding therefor may be
brought.

     

    (e)           No
Violation.  The consummation of the transactions contemplated
by this Agreement and the fulfillment of the terms hereof do not conflict with,
result in any breach of any of the terms and provisions of, nor constitute (with
or without notice or lapse of time) a default under, the articles of
incorporation or by-laws of the Seller, or any indenture, agreement or other
instrument to which the Seller is a party or by which it shall be bound; nor
result in the creation or imposition of any Lien upon any of its properties
pursuant to the terms of any such indenture, agreement or other instrument
(other than pursuant to the Basic Documents); nor violate any law or, to the
best of the Seller’s knowledge, any order, rule or regulation applicable to the
Seller of any court or of any federal or State regulatory body, administrative
agency or other governmental instrumentality having jurisdiction over the Seller
or its properties.

     

    (f)           No
Proceedings.  To the Seller’s best knowledge, there are no
proceedings or investigations pending, or threatened, before any court,
regulatory body, administrative agency or other governmental instrumentality
having jurisdiction over the Seller or its properties:  (i) asserting
the invalidity of this Agreement, the Indenture or any of the other Basic
Documents, the Notes or the Certificate, (ii) seeking to prevent the issuance of
the Notes or the Certificate or the consummation of any of the transactions
contemplated by this Agreement, the Indenture or any of the other Basic
Documents, (iii) seeking any determination or ruling that might materially

     

    
      
        
        

      

      
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    and
adversely affect the performance by the Seller of its obligations under, or the
validity or enforceability of, this Agreement, the Indenture, any of the other
Basic Documents, the Notes or the Certificate or (iv) which involve the Seller
and which might adversely affect the Federal or state income tax attributes of
the Notes or the Certificate.

     

    SECTION
6.02  Corporate
Existence.

     

    (a)           During
the term of this Agreement, the Seller will keep in full force and effect its
existence, rights and franchises as a corporation under the laws of the
jurisdiction of its incorporation and will obtain and preserve its qualification
to do business in each jurisdiction in which such qualification is or shall be
necessary to protect the validity and enforceability of this Agreement, the
Basic Documents and each other instrument or agreement necessary or appropriate
to the proper administration of this Agreement and the transactions contemplated
hereby.

     

    (b)           During
the term of this Agreement, the Seller shall observe the applicable legal
requirements for the recognition of the Seller as a legal entity separate and
apart from its Affiliates, including as follows:

     

    (i)           the
Seller shall maintain corporate records and books of account separate from those
of its Affiliates;

     

    (ii)          except
as otherwise provided in this Agreement, the Seller shall not commingle its
assets and funds with those of its Affiliates;

     

    (iii)         the
Seller shall hold such appropriate meetings of its Board of Directors as are
necessary to authorize all the Seller’s corporate actions required by law to be
authorized by the Board of Directors, shall keep minutes of such meetings and of
meetings of its stockholder(s) and observe all other customary corporate
formalities (and any successor Seller not a corporation shall observe similar
procedures in accordance with its governing documents and applicable
law);

     

    (iv)          the
Seller shall at all times hold itself out to the public under the Seller’s own
name as a legal entity separate and distinct from its Affiliates;
and

     

    (v)           all
transactions and dealings between the Seller and its Affiliates will be
conducted on an arm’s-length basis.

     

    SECTION
6.03  Liability of Seller;
Indemnities.  The Seller shall be liable in accordance herewith
only to the extent of the obligations specifically undertaken by the Seller
under this Agreement.

     

    (a)           The
Seller shall indemnify, defend and hold harmless the Issuing Entity, the Owner
Trustee and the Indenture Trustee and their officers, directors and agents from
and against any taxes that may at any time be asserted against the Issuing
Entity, the Owner Trustee or the Indenture Trustee or their officers, directors,
and agents with respect to the sale of the Receivables to the Issuing Entity or
the issuance and original sale of the Certificate and the Notes, including any
sales, gross receipts, general corporation, tangible personal property,

     

    
      
        
        

      

      
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    privilege
or license taxes (but, in the case of the Issuing Entity, not including any
taxes asserted with respect to ownership of the Receivables or Federal or other
income taxes arising out of the transactions contemplated by this Agreement) and
costs and expenses in defending against the same.

     

    (b)           The
Seller shall indemnify, defend and hold harmless the Issuing Entity, the Owner
Trustee and the Indenture Trustee and their officers, directors, and agents from
and against any loss, liability or expense incurred by reason of (i) the
Seller’s willful misfeasance, bad faith or negligence in the performance of its
duties under this Agreement, or by reason of reckless disregard of its
obligations and duties under this Agreement and (ii) the Seller’s or the Issuing
Entity’s violation of Federal or State securities laws in connection with the
offering and sale of the Notes and the Certificate.

     

    (c)           The
Seller shall pay any and all state and local property taxes (including taxes on
intangibles), excise taxes, sales taxes and similar taxes levied or assessed
upon all or any part of the Owner Trust Estate including, without limitation,
the Receivables.

     

    (d)           Indemnification
under this Section shall survive the resignation or removal of the Owner Trustee
or the Indenture Trustee and the termination of this Agreement and shall include
reasonable fees and expenses of counsel and expenses of
litigation.  If the Seller shall have made any indemnity payments
pursuant to this Section and the Person to or on behalf of whom such payments
are made thereafter shall collect any of such amounts from others, such Person
shall promptly repay such amounts to the Seller, without interest.

     

    SECTION
6.04  Merger or Consolidation
of, or Assumption of the Obligations of, Seller.  Any Person
(a) into which the Seller may be merged or consolidated, (b) which may result
from any merger or consolidation to which the Seller shall be a party or (c)
which may succeed to the properties and assets of the Seller substantially as a
whole, which Person in any of the foregoing cases executes an agreement of
assumption to perform every obligation of the Seller under this Agreement, shall
be the successor to the Seller hereunder without the execution or filing of any
document or any further act by any of the parties to this Agreement; provided,
however, that (i) immediately after giving effect to such transaction, no
representation or warranty made pursuant to Section 3.01 shall have been
breached and no Servicer Default, and no event that, after notice or lapse of
time, or both, would become a Servicer Default shall have occurred and be
continuing, (ii) the Seller shall have delivered to the Owner Trustee and the
Indenture Trustee an Officers’ Certificate and an Opinion of Counsel each
stating that such consolidation, merger or succession and such agreement of
assumption comply with this Section and that all conditions precedent, if any,
provided for in this Agreement relating to such transaction have been complied
with, (iii) the Rating Agency Condition shall have been satisfied with respect
to such transaction and (iv) the Seller shall have delivered to the Owner
Trustee and the Indenture Trustee an Opinion of Counsel either (A) stating that,
in the opinion of such counsel, all financing statements and continuation
statements and amendments thereto have been executed and filed that are
necessary fully to preserve and protect the interest of the Owner Trustee and
Indenture Trustee, respectively, in the Receivables and reciting the details of
such filings, or (B) stating that, in the opinion of such counsel, no such
action shall be necessary to preserve and protect such
interests.  Notwithstanding anything herein to the contrary, the
execution of the foregoing agreement of assumption and compliance with clauses
(i), (ii), (iii) 

     

    
      
        
        

      

      
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    and (iv)
above shall be conditions to the consummation of the transactions referred to in
clause (a), (b) or (c) above.

     

    SECTION
6.05  Limitation on Liability
of Seller and Others.  The Seller and any director or officer
or employee or agent of the Seller may rely in good faith on the advice of
counsel or on any document of any kind, prima facie properly executed and
submitted by any Person respecting any matters arising hereunder.  The
Seller shall not be under any obligation to appear in, prosecute or defend any
legal action that shall not be incidental to its obligations under this
Agreement, and that in its opinion may involve it in any expense or
liability.

     

    SECTION
6.06  Seller May Own Notes;
Retention of the Certificate.  The Seller and any Affiliate
thereof may in its individual or any other capacity become the owner or pledgee
of the Notes with the same rights as it would have if it were not the Seller or
an Affiliate thereof, except as expressly provided herein or in any Basic
Document.  The Seller shall retain and not transfer the
Certificate.

     

    SECTION
6.07  Right of Seller to
Repurchase Receivables.  As of the last day of any Collection
Period, the Seller has an option to repurchase any Receivable at a purchase
price equal to the Purchase Amount of such Receivable; provided that the
aggregate Principal Balance of all Receivables repurchased by the Seller
pursuant to this Section 6.07 shall not at any time in the aggregate exceed 2.0%
of the Initial Pool Balance.  To exercise such option, the Seller
shall deposit pursuant to Section 5.03 in the Collection Account an amount equal
to the aggregate Purchase Amount of the repurchased Receivables.

     

     

    ARTICLE
VII

     

    
      The
Servicer

    

     

    SECTION
7.01  Representations of
Servicer.  The Servicer makes the following representations on
which the Issuing Entity is deemed to have relied in acquiring the
Receivables.  The representations speak as of the execution and
delivery of this Agreement (or as of the date a Person (other than the Indenture
Trustee) becomes Servicer pursuant to Sections 7.03 and 8.02, in the case of a
successor to the Servicer) and shall survive the sale of the Receivables to the
Issuing Entity and the pledge thereof to the Indenture Trustee pursuant to the
Indenture.

     

    (a)           Organization and Good
Standing.  The Servicer is a corporation duly organized,
validly existing and in good standing under the laws of the jurisdiction of its
incorporation, and has the corporate power and authority to own its properties
and to conduct the business in which it is currently engaged, and had at all
relevant times, and has, the power, authority and legal right to acquire, own,
sell and service the Receivables and to hold the Receivable Files as
custodian.

     

    (b)           Power and
Authority.  The Servicer has the corporate power and authority
to execute and deliver this Agreement and to carry out its terms; and the
execution, delivery and performance of this Agreement have been duly authorized
by the Servicer by all necessary corporate action.

     

    
      
        
        

      

      
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    (c)           Binding
Obligation.  This Agreement constitutes a legal, valid and
binding obligation of the Servicer enforceable in accordance with its terms
except that such enforcement may be subject to bankruptcy, insolvency,
reorganization, moratorium or other similar laws now or hereafter in effect
relating to creditors’ rights generally and the remedy of specific performance
and injunctive relief may be subject to certain equitable defenses and to the
discretion of the court before which any proceeding therefor may be
brought.

     

    (d)           No
Violation.  The consummation of the transactions contemplated
by this Agreement and the fulfillment of the terms hereof shall not conflict
with, result in any breach of any of the terms and provisions of, nor constitute
(with or without notice or lapse of time) a default under, the articles of
incorporation or by-laws of the Servicer, or any indenture, agreement or other
instrument to which the Servicer is a party or by which it shall be bound; nor
result in the creation or imposition of any Lien upon any of its properties
pursuant to the terms of any such indenture, agreement or other instrument
(other than this Agreement); nor violate any law or, to the best of the
Servicer’s knowledge, any order, rule or regulation applicable to the Servicer
of any court or of any Federal or State regulatory body, administrative agency
or other governmental instrumentality having jurisdiction over the Servicer or
its properties.

     

    (e)           No
Proceedings.  To the Servicer’s best knowledge, there are no
proceedings or investigations pending, or threatened, before any court,
regulatory body, administrative agency or other governmental instrumentality
having jurisdiction over the Servicer or its
properties:  (i) asserting the invalidity of this Agreement, the
Indenture, any of the other Basic Documents, the Notes or the Certificate, (ii)
seeking to prevent the issuance of the Notes or the Certificate or the
consummation of any of the transactions contemplated by this Agreement, the
Indenture or any of the other Basic Documents, (iii) seeking any determination
or ruling that might materially and adversely affect the performance by the
Servicer of its obligations under, or the validity or enforceability of, this
Agreement, the Indenture, any of the other Basic Documents, the Notes or the
Certificate or (iv) relating to the Servicer and which might adversely affect
the Federal or state income tax attributes of the Notes or the
Certificate.

     

    (f)           No Insolvent
Obligors.  As of the Cut-off Date, no Obligor on a Receivable
is shown on the Receivable Files as the subject of a bankruptcy
proceeding.

     

    SECTION
7.02  Indemnities of
Servicer.  The Servicer shall be liable in accordance herewith
only to the extent of the obligations specifically undertaken by the Servicer
under this Agreement.

     

    (a)           The
Servicer shall defend, indemnify and hold harmless the Issuing Entity, the Owner
Trustee, the Indenture Trustee, the Noteholders, the Certificateholder and the
Seller and any of the officers, directors and agents of the Issuing Entity, the
Owner Trustee, the Indenture Trustee and the Seller from and against any and all
costs, expenses, losses, damages, claims and liabilities, arising out of or
resulting from the use, ownership or operation by the Servicer or any Affiliate
thereof of any Financed Equipment.

     

    (b)           The
Servicer shall indemnify, defend and hold harmless the Issuing Entity, the Owner
Trustee, the Indenture Trustee, and the Seller and their respective officers,
directors and agents from and against any taxes that may at any time be asserted
against any such Person 

     

    
      
        
        

      

      
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    with
respect to the transactions contemplated herein, including any sales, gross
receipts, general corporation, tangible personal property, privilege or license
taxes (but, in the case of the Issuing Entity, not including any taxes asserted
with respect to, and as of the date of, the sale of the Receivables to the
Issuing Entity or the issuance and original sale of the Certificate and the
Notes, or asserted with respect to ownership of the Receivables, or Federal or
other income taxes arising out of distributions on the Certificate or the Notes)
and costs and expenses in defending against the same.

     

    (c)           The
Servicer shall indemnify, defend and hold harmless the Issuing Entity, the Owner
Trustee, the Indenture Trustee, the Seller, the Certificateholder and the
Noteholders and any of the officers, directors and agents of the Issuing Entity,
the Owner Trustee, the Indenture Trustee and the Seller from and against any and
all costs, expenses, losses, claims, damages and liabilities to the extent that
such cost, expense, loss, claim, damage or liability arose out of, or was
imposed upon any such Person through, the negligence, willful misfeasance or bad
faith of the Servicer in the performance of its duties under this Agreement or
by reason of reckless disregard of its obligations and duties under this
Agreement or on account of the failure of the Servicer to be qualified to do
business as a foreign corporation or to have obtained a license or approval in
any jurisdiction.

     

    (d)           The
Servicer shall indemnify, defend and hold harmless the Owner Trustee and the
Indenture Trustee and their respective officers, directors and agents from and
against all costs, expenses, losses, claims, damages and liabilities arising out
of or incurred in connection with the acceptance or performance of the trusts
and duties herein and contained in the Trust Agreement, in the case of the Owner
Trustee, and contained in the Indenture, in the case of the Indenture Trustee,
except to the extent that such cost, expense, loss, claim, damage or
liability:  (i) shall be due to the willful misfeasance, bad faith or
negligence (except for errors in judgment) of the Owner Trustee or the Indenture
Trustee as applicable; or (ii) shall arise from the breach by the Owner Trustee
of any of its representations or warranties set forth in Section 7.03 of the
Trust Agreement.

     

    (e)           To
the extent not indemnified by the Seller under Section 6.03, the Servicer shall
pay any and all taxes levied or assessed upon all or any part of the Owner Trust
Estate, other than any taxes asserted with respect to, and as of the date of,
the sale of the Receivables to the Issuing Entity or the issuance and original
sale of the Certificate and the Notes, or Federal or other income taxes imposed
on the Issuing Entity because of its classification or reclassification for tax
purposes, or Federal or other income taxes arising out of distributions on the
Certificate or the Notes, and the Servicer shall pay and indemnify against any
and all state and local property taxes (including taxes on intangibles), excise
taxes, sales taxes, franchise taxes (excluding franchise taxes based on or
measured by income) and similar taxes levied or assessed upon all or any part of
the Owner Trust Estate including, without limitation, the
Receivables.

     

    (f)           The
Servicer shall pay the Indenture Trustee from time to time reasonable
compensation for all services rendered by the Indenture Trustee under the
Indenture (which compensation shall not be limited by any provision of law in
regard to the compensation of a trustee of an express trust).

     

    
      
        
        

      

      
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    (g)           The
Servicer shall, except as otherwise expressly provided in the Indenture,
reimburse the Indenture Trustee upon its request for all reasonable expenses,
disbursements and advances incurred or made by the Indenture Trustee in
accordance with any provision of the Indenture (including, but not limited to,
the reasonable compensation, expenses and disbursements of its agents and either
in-house counsel or outside counsel, but not both) except any such expense,
disbursement or advance as may be attributable to its negligence or bad
faith.

     

    (h)           The
Servicer shall pay (or cause to be paid) when due and shall indemnify, defend
and hold harmless the Issuing Entity from and against all liability as a result
of Treasury Regulation Section 1.1502-6(a) or similar provision under state or
local law for income, franchise, gross receipts or other doing business taxes of
the Servicer and any other corporation or entity (other than the Issuing Entity)
that joins or has ever joined (or is or has ever been required to join) with the
Servicer or the Seller in filing any consolidated, combined or unitary tax
return, and costs and expenses in defending against the same; provided, however,
the Issuing Entity shall be liable for and shall pay when due any and all taxes
of the Issuing Entity (including from ownership and collection of the
Receivables) determined on separate entity basis and no claim may be made and no
amount indemnified against under this Section 7.02(h) on account of taxes of the
Issuing Entity.

     

    For
purposes of this Section 7.02, in the event of the termination of the rights and
obligations of JDCC (or any successor thereto pursuant to Section 7.03) as
Servicer pursuant to Section 8.01, or a resignation by such Servicer pursuant to
this Agreement, such Servicer shall be deemed to be the Servicer pending
appointment of a successor Servicer (other than the Indenture Trustee) pursuant
to Section 8.02.

     

    Indemnification
under this Section shall survive the resignation or removal of the Owner Trustee
or the Indenture Trustee or the termination of this Agreement and shall include
reasonable fees and expenses of counsel and expenses of
litigation.  If the Servicer shall have made any indemnity payments
pursuant to this Section and the Person to or on behalf of whom such payments
are made thereafter collects any of such amounts from others, such Person shall
promptly repay such amounts to the Servicer, without interest.

     

    SECTION
7.03  Merger or Consolidation
of, or Assumption of the Obligations of, Servicer.  Any Person
(a) into which the Servicer may be merged or consolidated, (b) which may result
from any merger or consolidation to which the Servicer shall be a party, (c)
which may succeed to the properties and assets of the Servicer substantially as
a whole, or (d) with respect to the Servicer’s obligations hereunder, which is a
corporation 50% or more of the voting stock of which is owned, directly or
indirectly, by Deere, which Person executed an agreement of assumption to
perform every obligation of the Servicer hereunder, shall be the successor to
the Servicer under this Agreement without further act on the part of any of the
parties to this Agreement; provided, however, that (i) immediately after giving
effect to such transaction, no Servicer Default, and no event which, after
notice or lapse of time, or both, would become a Servicer Default shall have
occurred and be continuing, (ii) the Servicer shall have delivered to the Owner
Trustee and the Indenture Trustee an Officers’ Certificate and an Opinion of
Counsel each stating that such consolidation, merger or succession and such
agreement of assumption comply with this Section and that all conditions
precedent provided for in this Agreement relating to such transaction have been
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    have been
satisfied with respect to such transaction and (iv) the Servicer shall have
delivered to the Owner Trustee and the Indenture Trustee an Opinion of Counsel
either (A) stating that, in the opinion of such counsel, all financing
statements and continuation statements and amendments thereto have been executed
(if required) and filed that are necessary fully to preserve and protect the
interest of the Owner Trustee and the Indenture Trustee, respectively, in the
Receivables and reciting the details of such filings or (B) stating that, in the
opinion of such counsel, no such action shall be necessary to preserve and
protect such interests.  The Servicer shall provide the Seller in
writing with such information as reasonably requested by the Seller to comply
with its Exchange Act reporting obligations with respect to a successor
servicer.  Notwithstanding anything herein to the contrary, the
execution of the foregoing agreement of assumption and compliance with clauses
(i), (ii), (iii) and (iv) above shall be conditions to the consummation of the
transactions referred to in clause (a), (b), (c) or (d) above.

     

    SECTION
7.04  Limitation on Liability
of Servicer and Others.  Neither the Servicer nor the
Sub-Servicer nor any of the directors or officers or employees or agents of the
Servicer or the Sub-Servicer, as the case may be, shall be under any liability
to the Issuing Entity, the Noteholders or the Certificateholder, except as
provided under this Agreement, for any action taken or for refraining from the
taking of any action pursuant to this Agreement or for errors in judgment;
provided, however, that this provision shall not protect the Servicer, the
Sub-Servicer or any such person against any liability that would otherwise be
imposed by reason of willful misfeasance, bad faith or negligence in the
performance of duties or by reason of reckless disregard of obligations and
duties under this Agreement.  The Servicer, the Sub-Servicer and any
director or officer or employee or agent of the Servicer or the Sub-Servicer, as
the case may be, may rely in good faith on any document of any kind prima facie
properly executed and submitted by any person respecting any matters arising
under this Agreement.

     

    Except as
provided in this Agreement, neither the Servicer nor the Sub-Servicer shall be
under any obligation to appear in, prosecute or defend any legal action that
shall not be incidental to its duties to service the Receivables in accordance
with this Agreement, and that in its opinion may involve it in any expense or
liability; provided, however, that the Servicer or the Sub-Servicer may
undertake any reasonable action that it may deem necessary or desirable in
respect of this Agreement and the Basic Documents and the rights and duties of
the parties to this Agreement and the Basic Documents and the interests of the
Certificateholder under this Agreement and the Noteholders under the
Indenture.

     

    SECTION
7.05  JDCC Not to Resign as
Servicer.  Subject to the provisions of Section 7.03, JDCC
shall not resign from the obligations and duties hereby imposed on it as
Servicer under this Agreement except upon determination that the performance of
its duties under this Agreement shall no longer be permissible under applicable
law.  Notice of any such determination permitting the resignation of
JDCC shall be communicated to the Owner Trustee and the Indenture Trustee at the
earliest practicable time (and, if such communication is not in writing, shall
be confirmed in writing at the earliest practicable time) and any such
determination shall be evidenced by an Opinion of Counsel to such effect
delivered to the Owner Trustee and the Indenture Trustee concurrently with or
promptly after such notice.  No such resignation shall become
effective until the Indenture Trustee or a successor Servicer shall have assumed
the responsibilities and obligations of JDCC in accordance with Section 8.02 and
provided the Seller 

     

    
      
        
        

      

      
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    in
writing with such information as reasonably requested by the Seller to comply
with its Exchange Act reporting obligations with respect to such
resignation.

     

    SECTION
7.06  Servicer to Act as
Administrator.  In the event of the resignation or removal of
the Administrator and the failure of a successor Administrator to have been
appointed and to have accepted such appointment as successor Administrator, the
Servicer shall become the successor Administrator and shall be bound by the
terms of the Administration Agreement.

     

     

    ARTICLE
VIII

     

    Default

     

    SECTION
8.01  Servicer
Default.  If any one of the following events (a “Servicer
Default”) shall occur and be continuing:

     

    (a)           any
failure by the Servicer to deliver to the Indenture Trustee for deposit in any
of the Trust Accounts or the Certificate Distribution Account any required
payment or to direct the Indenture Trustee to make any required distributions
therefrom that shall continue unremedied for a period of three Business Days
after written notice of such failure is received by the Servicer from the Owner
Trustee or the Indenture Trustee or after discovery of such failure by an
officer of the Servicer; or

     

    (b)           failure
on the part of the Servicer or the Seller, as the case may be, duly to observe
or to perform in any material respect any other covenants or agreements of the
Servicer or the Seller (as the case may be) set forth in this Agreement or any
other Basic Document, which failure shall (i) materially and adversely affect
the rights of Certificateholder or Noteholders and (ii) continue unremedied for
a period of 60 days after the date on which written notice of such failure,
requiring the same to be remedied, shall have been given (A) to the Servicer or
the Seller (as the case may be) by the Owner Trustee or the Indenture Trustee or
(B) to the Servicer or the Seller (as the case may be), and to the Owner Trustee
and the Indenture Trustee by the Holders of Notes evidencing not less than 25%
of the Outstanding Amount of the Notes or the Certificateholder (as defined in
the Trust Agreement); or

     

    (c)           an
Insolvency Event occurs with respect to the Servicer;

     

    then, and
in each and every case, so long as the Servicer Default shall not have been
remedied, either the Indenture Trustee (so long as a Trust Officer of the
Indenture Trustee has received notice or has actual knowledge of such Servicer
Default), or the Holders of Notes evidencing not less than 25% of the
Outstanding Amount of the Notes, by notice then given in writing to the Servicer
(and to the Indenture Trustee and the Owner Trustee if given by the Noteholders)
may terminate all the rights and obligations (other than the obligations set
forth in Section 7.02 hereof) of the Servicer under this
Agreement.  On or after the receipt by the Servicer of such written
notice, all authority and power of the Servicer under this Agreement, whether
with respect to the Notes, the Certificate or the Receivables or otherwise,
shall, without further action, pass to and be vested in the Indenture Trustee or
such successor Servicer as may be appointed 

     

    
      
        
        

      

      
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    under
Section 8.02; and, without limitation, the Indenture Trustee and the Owner
Trustee are hereby authorized and empowered to execute and deliver, on behalf of
the predecessor Servicer, as attorney-in-fact or otherwise, any and all
documents and other instruments, and to do or accomplish all other acts or
things necessary or appropriate to effect the purposes of such notice of
termination, whether to complete the transfer and endorsement of the Receivables
and related documents, or otherwise.  The predecessor Servicer shall
cooperate with the successor Servicer, the Indenture Trustee and the Owner
Trustee in effecting the termination of the responsibilities and rights of the
predecessor Servicer under this Agreement, including the transfer to the
successor Servicer for administration by it of all cash amounts that shall at
the time be held by the predecessor Servicer for deposit, or shall thereafter be
received by it with respect to a Receivable.  All reasonable costs and
expenses (including reasonable attorneys’ fees) incurred in connection with
transferring the Receivable Files to the successor Servicer and amending this
Agreement to reflect such succession as Servicer pursuant to this Section shall
be paid by the predecessor Servicer upon presentation of reasonable
documentation of such costs and expenses.  Upon receipt of notice of
the occurrence of a Servicer Default, the Owner Trustee shall give notice
thereof to the Rating Agencies.

     

    SECTION
8.02  Appointment of
Successor.

     

    (a)           Upon
the Servicer’s receipt of notice of termination, pursuant to Section 8.01 or the
Servicer’s resignation in accordance with the terms of this Agreement, the
predecessor Servicer shall continue to perform its functions as Servicer under
this Agreement, in the case of termination, only until the date specified in
such termination notice or, if no such date is specified in a notice of
termination, until receipt of such notice and, in the case of resignation, until
the earlier of (x) the date 45 days from the delivery to the Owner Trustee and
the Indenture Trustee of written notice of such resignation (or written
confirmation of such notice) in accordance with the terms of this Agreement and
(y) the date upon which the predecessor Servicer shall become unable to act as
Servicer, as specified in the notice of resignation and accompanying Opinion of
Counsel.  In the event of the Servicer’s termination hereunder, the
Indenture Trustee shall appoint a successor Servicer, and the successor Servicer
shall accept its appointment by a written assumption in form acceptable to the
Owner Trustee and the Indenture Trustee.  In the event that a
successor Servicer has not been appointed at the time when the predecessor
Servicer has ceased to act as Servicer in accordance with this Section, pending
the appointment of and acceptance by a successor Servicer, the Indenture Trustee
without further action shall automatically be appointed and serve as the
successor Servicer and the Indenture Trustee shall be entitled to the Servicing
Fee; provided, however, the provisions of Section 7.01 shall not apply and the
provisions of Section 4.07 shall not apply in the case of a breach by a
predecessor Servicer.  The Indenture Trustee may delegate any of its
servicing obligations to an Affiliate or agent in accordance with Section
4.14.  The Indenture Trustee shall not be liable for any action or
failure to act on the part of the predecessor
Servicer.  Notwithstanding the above, the Indenture Trustee shall, if
it shall be unwilling or legally unable so to act, appoint or petition a court
of competent jurisdiction to appoint, any established institution, having a net
worth of not less than $50,000,000 and whose regular business shall include the
servicing of equipment receivables, as the successor to the Servicer under this
Agreement.

     

    (b)           Upon
appointment, the successor Servicer (including the Indenture Trustee acting as
successor Servicer) shall be the successor in all respects to the predecessor
Servicer and 

     

    
      
        
        

      

      
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    shall be
subject to all the responsibilities, duties and liabilities arising thereafter
relating thereto placed on the predecessor Servicer and shall be entitled to the
Servicing Fee and all the rights granted to the predecessor Servicer by the
terms and provisions of this Agreement.

     

    (c)           Subject
to the Indenture Trustee’s right to appoint a successor Servicer pursuant to
Section 8.02(a) after the Indenture Trustee has become the Servicer, the
Servicer may not resign unless it is prohibited from serving as such by
law.

     

    SECTION
8.03  Notification to
Noteholders and the Certificateholder.  Upon any termination
of, or appointment of a successor to the Servicer pursuant to this Article VIII,
the Owner Trustee shall give prompt written notice thereof to the
Certificateholder and the Indenture Trustee shall give prompt written notice
thereof to Noteholders and the Rating Agencies.

     

    SECTION
8.04  Waiver of Past
Defaults.  The Holders of Notes evidencing not less than a
majority of the Outstanding Amount of the Notes, on behalf of all Noteholders
(or the Holder (as defined in the Trust Agreement) of the Certificate, in the
case of any default which does not adversely affect the Indenture Trustee or the
Noteholders) may, waive in writing any default by the Servicer in the
performance of its obligations hereunder and its consequences, except a default
in making any required deposits to or payments from any of the Trust Accounts in
accordance with this Agreement.  Upon any such waiver of a past
default, such default shall cease to exist, and any Servicer Default arising
therefrom shall be deemed to have been remedied for every purpose of this
Agreement.  No such waiver shall extend to any subsequent or other
default or impair any right consequent thereto.

     

     

    ARTICLE
IX

     

    Termination

     

    SECTION
9.01  Optional Purchase of
All Receivables and Termination.

     

    (a)           On
the last day of any Collection Period immediately preceding a Payment Date as of
which the then outstanding Pool Balance is 10% or less of the Initial Pool
Balance, the Servicer shall have the option to purchase the Owner Trust Estate,
other than the Trust Accounts and the Certificate Distribution Account;
provided, however, that the Servicer may not effect any such purchase so long as
the rating on Deere’s long-term debt obligations is less than Baa3 by Moody’s,
unless the Owner Trustee and the Indenture Trustee shall have received an
Opinion of Counsel to the effect that such purchase would not constitute a
fraudulent conveyance; provided further that each Rating Agency shall receive a
copy of such Opinion of Counsel and shall have confirmed that the rating
assigned to the Notes by such Rating Agency shall not be withdrawn or downgraded
as a result of such purchase.  To exercise such option, the Servicer
shall deposit pursuant to Section 5.03 in the Collection Account an amount equal
to the aggregate Purchase Amount for the Receivables (including defaulted
Receivables) and shall succeed to all interests in and to the
Trust.

     

    (b)           Upon
any sale of the assets of the Trust pursuant to Section 9.02 of the Trust
Agreement, the Servicer shall instruct the Indenture Trustee to deposit the
proceeds from such sale after all payments and reserves therefrom have been made
(the “Insolvency Proceeds”) in 

     

    
      
        
        

      

      
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    the
Collection Account.  On the Payment Date on which the Insolvency
Proceeds are deposited in the Collection Account (or, if such proceeds are not
so deposited on a Payment Date, on the Payment Date immediately following such
deposit), the Servicer shall instruct the Indenture Trustee to make the
following deposits (after the application on such Payment Date of the Total
Distribution Amount and funds on deposit in the Reserve Account pursuant to
Sections 5.04 and 5.05) from the Insolvency Proceeds and any funds remaining on
deposit in the Reserve Account (to the extent such amounts are property of the
Issuing Entity) (including the proceeds of any sale of investments therein as
described in the following sentence):

     

    (i)           to
the Note Distribution Account, any portion of the accrued but unpaid interest on
the Notes not otherwise deposited into the Note Distribution Account on such
Payment Date;

     

    (ii)           to
the Note Distribution Account, the outstanding principal balance of the Notes
(after giving effect to the reduction in the outstanding principal balance of
the Notes to result from the deposits made in the Note Distribution Account on
such Payment Date and on prior Payment Dates); and

     

    (iii)           to
the Certificate Distribution Account, the Certificate Balance (after giving
effect to the reduction in the Certificate Balance to result from the deposits
made in the Certificate Distribution Account on such Payment Date).

     

    Any
investments on deposit in the Reserve Account and the Note Distribution Account
(to the extent such amounts are property of the Issuing Entity) which will not
mature on or before such Payment Date shall be sold by the Indenture Trustee at
such time as will result in the Indenture Trustee receiving the proceeds from
such sale not later than the Transfer Date preceding such Payment
Date.  Any Insolvency Proceeds remaining after the deposits described
above shall be paid to the Seller.

     

    (c)           Notice
of any termination of the Trust shall be given by the Servicer to the Owner
Trustee and the Indenture Trustee as soon as practicable after the Servicer has
received notice thereof.

     

    (d)           Following
the satisfaction and discharge of the Indenture and the payment in full of the
principal of and interest on, and the cancellation of all of, the Notes, the
Certificateholder will succeed to the rights of the Noteholders hereunder other
than Section 5.06(a) and the Owner Trustee will succeed to the rights of the
Indenture Trustee pursuant to this Agreement.

     

    (e)           This
Agreement shall terminate upon the termination of the Trust.

     

     

    ARTICLE
X

     

    
      Miscellaneous
Provisions

    

     

    SECTION
10.01  Amendment.  This Agreement
may be amended by the Seller, the Servicer and the Owner Trustee, with the
consent of the Indenture Trustee, but without the consent of any of the
Noteholders or the Certificateholder, to cure any ambiguity, to 

     

    
      
        
        

      

      
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    correct
or supplement any provision in this Agreement or for the purpose of adding any
provisions to or changing in any manner or eliminating any of the provisions in
this Agreement or of modifying in any manner the rights of the Noteholders or
the Certificateholder; provided, however, that such action shall not, adversely
affect in any material respect the interests of any Noteholder or
Certificateholder; provided further that 10 days prior written notice of any
such amendment be given to each Rating Agency and, if a Rating Agency notifies
the Owner Trustee that such amendment will result in a downgrading or withdrawal
of the then current rating of any class of the Notes or the Certificate, such
amendment shall become effective with the consent of the Holders of Notes
evidencing not less than a majority of the Outstanding Amount of the Notes and
the consent of the Certificateholder; provided further that any solicitation of
such consent shall disclose the downgrading or withdrawal that would result from
such amendment.

     

    This
Agreement may also be amended from time to time, with 10 days prior notice to
each of the Rating Agencies, by the Seller, the Servicer and the Owner Trustee,
with the consent of the Indenture Trustee, the consent of the Holders of Notes
evidencing not less than a majority of the Outstanding Amount of the Notes and
the consent of the Holder of the Certificate, for the purpose of adding any
provisions to or changing in any manner or eliminating any of the provisions of
this Agreement or of modifying in any manner the rights of the Noteholders or
the Certificateholder; provided, however, that no such amendment shall (a)
increase or reduce in any manner the amount of, or accelerate or delay the
timing of, collections of payments on Receivables or distributions that shall be
required to be made for the benefit of the Noteholders or the Certificateholder
or (b) reduce the aforesaid percentage of the Outstanding Amount of the Notes
and the Certificate Balance, the Holders of which are required to consent to any
such amendment, without the consent of the Holders of all the outstanding Notes
and the consent of the Certificateholder.

     

    Promptly
after the execution of any such amendment or consent, the Owner Trustee shall
furnish written notification of the substance of such amendment or consent to
the Certificateholder.

     

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

     

    Prior to
the execution of any amendment to this Agreement, the Owner Trustee and the
Indenture Trustee shall be entitled to receive and rely upon an Opinion of
Counsel stating that the execution of such amendment is authorized or permitted
by this Agreement and the Opinion of Counsel referred to in Section 10.02(i)(1)
and that all conditions precedent have been satisfied.  The Owner
Trustee and the Indenture Trustee may, but shall not be obligated to, enter into
any such amendment which affects the Owner Trustee’s or the Indenture Trustee’s,
as applicable, own rights, duties or immunities under this Agreement or
otherwise.

     

    SECTION
10.02  Protection of Title to
Trust.

     

    (a)           The
Seller shall file (and if required, authorize) such financing statements and
cause to be authorized and filed such continuation statements, all in such
manner and in such places as may be required by law fully to preserve, maintain,
and protect the interest of the 

     

    
      
        
        

      

      
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    Issuing
Entity and the interests of the Indenture Trustee in the Receivables and in the
proceeds thereof.  The Seller shall deliver (or cause to be delivered)
to the Owner Trustee and the Indenture Trustee file-stamped copies of, or filing
receipts for, any document filed as provided above, as soon as available
following such filing.

     

    (b)           Neither
the Seller nor the Servicer shall change its name, identity, corporate structure
or jurisdiction of organization in any manner that would, could or might make
any financing statement or continuation statement filed in accordance with
paragraph (a) above seriously misleading within the meaning of Section 9-506 of
the UCC, unless it shall have given the Owner Trustee and the Indenture Trustee
at least five days’ prior written notice thereof and shall have promptly filed
appropriate new financing statements and/or amendments to all previously filed
financing statements or continuation statements.

     

    (c)           Each
of the Seller and the Servicer shall have an obligation to give the Owner
Trustee and the Indenture Trustee at least 60 days prior written notice of any
relocation of its jurisdiction of organization if, as a result of such
relocation, the applicable provisions of the UCC would require the filing of any
amendment of any previously filed financing or continuation statement or of any
new financing statement and shall promptly file any such amendment or new
financing statements as the case may be.  The Servicer shall at all
times maintain each office from which it shall service Receivables, and its
jurisdiction of organization, within the United States of America.

     

    (d)           The
Servicer shall maintain accounts and records as to each Receivable accurately
and in sufficient detail to permit (i) the reader thereof to know at any time
the status of such Receivable, including payments and recoveries made and
payments owing (and the nature of each) and (ii) reconciliation between payments
or recoveries on (or with respect to) each Receivable and the amounts from time
to time deposited in the Collection Account in respect of such
Receivable.

     

    (e)           The
Servicer shall maintain its computer systems so that, from and after the time of
sale under this Agreement of the Receivables, the Servicer’s master computer
records (including any backup archives) that refer to a Receivable shall
indicate clearly the interest of the Issuing Entity and the Indenture Trustee in
such Receivable and that such Receivable is owned by the Issuing Entity and has
been pledged to the Indenture Trustee.  Indication of the Issuing
Entity’s and the Indenture Trustee’s interest in a Receivable shall be deleted
from or modified on the Servicer’s computer systems when, and only when, the
related Receivable shall have been paid in full, purchased or
repurchased.

     

    (f)           If
at any time the Seller or the Servicer shall propose to sell, grant a security
interest in, or otherwise transfer any interest in equipment receivables to any
prospective purchaser, lender or other transferee, the Servicer shall give to
such prospective purchaser, lender or other transferee computer tapes, records
or printouts (including any restored from backup archives) that, if they shall
refer in any manner whatsoever to any Receivable, shall indicate clearly that
such Receivable has been sold and is owned by the Issuing Entity and has been
pledged to the Indenture Trustee.

     

    
      
        
        

      

      
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    (g)           The
Servicer shall permit the Indenture Trustee and its agents at any time during
normal business hours to inspect, audit and make copies of and abstracts from
the Servicer’s records regarding any Receivable.  The Indenture
Trustee and its agents shall give reasonable notice of any such inspection or
audit and such inspection shall be conducted in a manner that does not cause
undue disruption or interference with the Servicer’s business.

     

    (h)           Upon
request, the Servicer shall furnish to the Owner Trustee or to the Indenture
Trustee, within five Business Days, a list of all Receivables (by contract
number and name of Obligor) then held as part of the Trust, together with a
reconciliation of such list to the Schedule of Receivables and to each of the
Servicer’s Certificates furnished before such request indicating removal of
Receivables from the Trust.

     

    (i)           The
Servicer shall deliver to the Owner Trustee and the Indenture
Trustee:

     

    (1)           promptly
after the execution and delivery of this Agreement and of each amendment
thereto, an Opinion of Counsel either (A) stating that, in the opinion of such
counsel, all financing statements and continuation statements have been executed
and filed that are necessary fully to preserve and protect the interest of the
Owner Trustee and the Indenture Trustee in the Receivables, and reciting the
details of such filings or referring to prior Opinions of Counsel in which such
details are given, or (B) stating that, in the opinion of such counsel, no such
action shall be necessary to preserve and protect such interest;
and

     

    (2)           within
90 days after the beginning of each calendar year beginning with the first
calendar year beginning more than three months after the Cut-off Date, an
Opinion of Counsel, dated as of a date during such 90-day period, either (A)
stating that, in the opinion of such counsel, all financing statements and
continuation statements have been executed and filed that are necessary fully to
preserve and protect the interest of the Owner Trustee and the Indenture Trustee
in the Receivables, and reciting the details of such filings or referring to
prior Opinions of Counsel in which such details are given, or (B) stating that,
in the opinion of such counsel, no such action shall be necessary to preserve
and protect such interest.

     

    Each
Opinion of Counsel referred to in clause (1) or (2) above shall specify any
action necessary (as of the date of such opinion) to be taken in the following
year to preserve and protect such interest.

     

    (j)           The
Seller shall, to the extent required by applicable law, cause the Certificate
and the Notes to be registered with the Commission pursuant to Section 12(b) or
Section 12 (g) of the Exchange Act within the time periods specified in such
sections.

     

    SECTION
10.03  Notices.  All demands,
notices, instructions and communications upon or to the Seller, the Servicer,
the Owner Trustee, the Indenture Trustee or the Rating Agencies under this
Agreement shall be in writing, personally delivered, sent by facsimile or mailed
by certified mail, return receipt requested, and shall be deemed to have been
duly given upon receipt (a) in the case of the Seller, to John Deere
Receivables, Inc., 1 East First Street, Suite 600, Reno, Nevada 89501,
Attention:  Manager (702-786-5914), with a copy to 

     

    
      
        
        

      

      
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    Assistant
Treasurer, Deere & Company, One John Deere Place, Moline, Illinois
61265-8098 (309-765-5697), (b) in the case of the Servicer, to John Deere
Capital Corporation, 1 East First Street, Suite 600, Reno, Nevada 89501,
Attention:  Manager (702-786-5527), with a copy to Assistant
Treasurer, Deere & Company, One John Deere Place, Moline, Illinois
61265-8098 (309-765-5697), (c) in the case of the Issuing Entity or the Owner
Trustee, at the Corporate Trust Office (as defined in the Trust Agreement) with
a copy to The Bank of New York Mellon, 101 Barclay Street, 8W, New York, NY
10286, Attention: Michael Burack, (d) in the case of the Indenture Trustee, at
the Corporate Trust Office, (e) in the case of Moody’s, to Moody’s Investors
Service, Inc., ABS Monitoring Department, 99 Church Street, New York, New York
10007, and (f) in the case of Standard & Poor’s, to Standard & Poor’s
Ratings Services, 55 Water Street, 40th Floor, New York, New York 10041,
Attention of Asset Backed Surveillance Department; or, as to each of the
foregoing, at such other address as shall be designated by written notice to the
other parties.

     

    SECTION
10.04  Assignment.  Notwithstanding
anything to the contrary contained herein, except as provided in Sections 6.04
and 7.03 and as provided in the provisions of this Agreement concerning the
resignation of the Servicer, this Agreement may not be assigned by the Seller or
the Servicer.

     

    SECTION
10.05  Limitations on Rights
of Others.  The provisions of this Agreement are solely for the
benefit of the Seller, the Servicer, the Issuing Entity, the Owner Trustee, the
Certificateholder, the Indenture Trustee and the Noteholders and nothing in this
Agreement, whether express or implied, shall be construed to give to any other
Person any legal or equitable right, remedy or claim in the Owner Trust Estate
or under or in respect of this Agreement or any covenants, conditions or
provisions contained herein.

     

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

     

    SECTION
10.07  Separate
Counterparts.  This Agreement may be executed by the parties
hereto in separate counterparts, each of which when so executed and delivered
shall be an original, but all such counterparts shall together constitute but
one and the same instrument.

     

    SECTION
10.08  Headings.  The headings of
the various Articles and Sections herein are for convenience of reference only
and shall not define or limit any of the terms or provisions
hereof.

     

    SECTION
10.09  Governing
Law.  THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE
LAWS OF THE STATE OF NEW YORK.

     

    SECTION
10.10  Assignment to
Indenture Trustee.  The Seller hereby acknowledges and consents
to any mortgage, pledge, assignment and grant of a security interest by the
Issuing Entity to the Indenture Trustee pursuant to the Indenture for the
benefit of the 

     

    
      
        
        

      

      
        47

        
          

        

      

      
        
        

      

    

     

    Noteholders
of all right, title and interest of the Issuing Entity in, to and under the
Receivables and/or the assignment of any or all of the Issuing Entity’s rights
and obligations hereunder to the Indenture Trustee.

     

    SECTION
10.11  Nonpetition
Covenants.

     

    (a)           Notwithstanding
any prior termination of this Agreement, the Servicer and the Seller shall not,
prior to the date which is one year and one day after the termination of this
Agreement with respect to the Issuing Entity, acquiesce, petition or otherwise
invoke or cause the Issuing Entity to invoke the process of any court or
government authority for the purpose of commencing or sustaining a case against
the Issuing Entity under any Federal or State bankruptcy, insolvency or similar
law or appointing a receiver, liquidator, assignee, trustee, custodian,
sequestrator or other similar official of the Issuing Entity or any substantial
part of its property, or ordering the winding up or liquidation of the affairs
of the Issuing Entity.

     

    (b)           Notwithstanding
any prior termination of this Agreement, the Servicer shall not, prior to the
date which is one year and one day after there has been paid in full all debt
issued by any securitization vehicle in respect of which the Seller holds any
interest, acquiesce, petition or otherwise invoke or cause the Seller to invoke
the process of any court or government authority for the purpose of commencing
or sustaining a case against the Seller under any Federal or State bankruptcy,
insolvency or similar law or appointing a receiver, liquidator, assignee,
trustee, custodian, sequestrator or other similar official of the Seller or any
substantial part of its property, or ordering the winding up or liquidation of
the affairs of the Seller.

     

    SECTION
10.12  Limitation of
Liability of Owner Trustee and Indenture Trustee.

     

    (a)           Notwithstanding
anything contained herein to the contrary, this Agreement has been countersigned
by BNY Mellon Trust of Delaware not in its individual capacity but solely in its
capacity as Owner Trustee of the Issuing Entity and in no event shall BNY Mellon
Trust of Delaware in its individual capacity have any liability for the
representations, warranties, covenants, agreements or other obligations of the
Issuing Entity hereunder or in any of the certificates, notices or agreements
delivered pursuant hereto, as to all of which recourse shall be had solely to
the assets of the Issuing Entity.  For all purposes of this Agreement,
in the performance of its duties or obligations hereunder or in the performance
of any duties or obligations of the Issuing Entity hereunder, the Owner Trustee
shall be subject to, and entitled to the benefits of, the terms and provisions
of Articles VI, VII and VIII of the Trust Agreement.

     

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

     

    
      
        
        

      

      
        48

        
          

        

      

      
        
        

      

    

     

    SECTION
10.13  Additional
Securities.  The issuance of any securities by John Deere
Receivables, Inc., other than the Notes and the Certificate, will require
satisfaction of the Rating Agency Condition.

     

     

     

     

     

     

     

    
      
        
        

      

      
        49

        
          

        

      

      
        
        

      

    

     

     

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

       

      
         

        
          	 	JOHN
      DEERE OWNER TRUST 2009	 
	 	 	 
	 	By: 	BNY
      Mellon
      Trust of Delaware, not
      in its individual capacity but solely
      as Owner
      Trustee on behalf of the Trust,	 
	 	 	 	 	 
	 	By:	/s/
      Kristine Gullo 	 
	 	 	Name: 
      	Kristine Gullo	 
	 	 	Title: 
      	Vice
    President	 
	 	 	 	 	 

        

      

       

    

    
      
         

        
          	 	JOHN
      DEERE RECEIVABLES, INC., 
Seller	 
	 	 	 
	 	 	 	 	 
	 	By:	/s/
      Chad Volkert 	 
	 	 	Name: 
      	Chad
    Volkert	 
	 	 	Title: 
      	Assistant
      Secretary	 
	 	 	 	 	 

        

      

       

    

    
      
        
          
            
              
                
                   

                  
                    	 	JOHN
      DEERE CAPITAL CORPORATION, 
Servicer,	 
	 	 	 
	 	 	 	 	 
	 	By:	/s/
      Michael Matera	 
	 	 	Name: 
      	Michael
    Matera	 
	 	 	Title: 
      	Senior Vice
      President	 
	 	 	 	 	 

                  

                

                 

              

            

          

        

      

      
         

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

        
          
             

            
              	Acknowledged,
      Accepted and Agreed:	 
	 	 
	
                      BNY
      Mellon Trust of Delaware, 
not
      in its individual 
capacity
      but solely 
as
      Owner Trustee,

                    	 
	 	 
	 	 	 	 
	By:	/s/
      Kristine K. Gullo	 
	 	Name: 
      	Kristine K.
      Gullo	 
	 	Title: 
      	Vice
    President	 
	 	 	 	 

            

          

           

        
 

      
        
          
             

            
              	Acknowledged,
      Accepted and Agreed:	 
	 	 
	
                      U.S.
      Bank National Association, 
not
      in its individual 
capacity
      but solely 
as
      Indenture Trustee,

                    	 
	 	 
	 	 	 	 
	By:	/s/
      Melissa A. Rosal	 
	 	Name: 
      	Melissa A.
      Rosal	 
	 	Title: 
      	Vice
    President	 
	 	 	 	 

            

          

           

        
 

       

      
         

        

      

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

       

      
        SCHEDULE
A

         

        Schedule
of Receivables

         

        (Delivered
to the Trust at the Closing)

         

      

       

       

       

       

       

       

       

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        SCHEDULE
B

         

        Location
of Receivable Files

         

         

        Suite
600

         

         

        1 East
First Street

         

         

        Reno,
Nevada 89501

         

      

       

       

       

       

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        SCHEDULE
C

         

        LIST OF
FISCAL MONTHS

         

        FISCAL
MONTH CUTOFF DATES (BY FISCAL YEAR)

         

        

        
          
            
              
                
                  
                    
                      
                        	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                                Fiscal

                              	
                                Calendar

                              	
                                2009

                              	
                                2010

                              	
                                2011

                              	
                                2012

                              	
                                2013

                              	
                                2014

                              	
                                2015

                              	
                                2016

                              
	
                                Month

                              	
                                Month

                              	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                                1

                              	
                                November

                              	
                                 30-Nov-08

                              	
                                 29-Nov-09

                              	
                                28-Nov-10

                              	
                                27-Nov-11

                              	
                                25-Nov-12

                              	
                                24-Nov-13

                              	
                                30-Nov-14

                              	
                                29-Nov-15

                              
	
                                2

                              	
                                December

                              	
                                28-Dec-08

                              	
                                27-Dec-09

                              	
                                26-Dec-10

                              	
                                25-Dec-11

                              	
                                23-Dec-12

                              	
                                22-Dec-13

                              	
                                28-Dec-14

                              	
                                22-Dec-15

                              
	
                                3

                              	
                                January

                              	
                                01-Feb-09

                              	
                                31-Jan-10

                              	
                                30-Jan-11

                              	
                                29-Jan-12

                              	
                                27-Jan-13

                              	
                                26-Jan-14

                              	
                                01-Feb-15

                              	
                                31-Jan-16

                              
	
                                4

                              	
                                February

                              	
                                01-Mar-09

                              	
                                28-Feb-10

                              	
                                27-Feb-11

                              	
                                26-Feb-12

                              	
                                24-Feb-13

                              	
                                23-Feb-14

                              	
                                01-Mar-15

                              	
                                28-Feb-16

                              
	
                                5

                              	
                                March

                              	
                                29-Mar-09 

                              	
                                28-Mar-10 

                              	
                                27-Mar-11

                              	
                                25-Mar-12

                              	
                                24-Mar-13

                              	
                                23-Mar-14

                              	
                                29-Mar-15

                              	
                                27-Mar-16

                              
	
                                6

                              	
                                April

                              	
                                03-May-09

                              	
                                02-May-10

                              	
                                01-May-11

                              	
                                29-Apr-12

                              	
                                28-Apr-13

                              	
                                27-Apr-14

                              	
                                03-May-15

                              	
                                01-May-16

                              
	
                                7

                              	
                                May

                              	
                                31-May-09 

                              	
                                30-May-10 

                              	
                                29-May-11

                              	
                                27-May-12

                              	
                                26-May-13

                              	
                                25-May-14

                              	
                                31-May-15

                              	
                                29-May-16

                              
	
                                8

                              	
                                June

                              	
                                28-Jun-09

                              	
                                27-Jun-10

                              	
                                26-Jun-11

                              	
                                24-Jun-12

                              	
                                23-Jun-13

                              	
                                22-Jun-14

                              	
                                28-Jun-15

                              	
                                26-June-16

                              
	
                                9

                              	
                                July

                              	
                                02-Aug-09

                              	
                                01-Aug-10

                              	
                                31-Jul-11

                              	
                                29-Jul-12

                              	
                                28-Jul-13

                              	
                                27-Jul-14

                              	
                                02-Aug-15

                              	
                                31-Jul-16

                              
	
                                10

                              	
                                August

                              	
                                30-Aug-09

                              	
                                29-Aug-10

                              	
                                28-Aug-11

                              	
                                26-Aug-12

                              	
                                25-Aug-13

                              	
                                24-Aug-14

                              	
                                30-Aug-15

                              	
                                28-Aug-16

                              
	
                                11

                              	
                                September

                              	
                                27-Sep-09

                              	
                                26-Sep-10

                              	
                                25-Sep-11

                              	
                                23-Sep-12

                              	
                                22-Sep-13

                              	
                                28-Sep-14

                              	
                                27-Sep-15

                              	
                                25-Sep-16

                              
	
                                12

                              	
                                October

                              	
                                31-Oct-09

                              	
                                31-Oct-10

                              	
                                31-Oct-11

                              	
                                31-Oct-12

                              	
                                31-Oct-13

                              	
                                31-Oct-14

                              	
                                31-Oct-15

                              	
                                31-Oct-16

                              

                      

                    

                  

                

              

            

          

        

         

         

        
 

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

      

       

      
        SCHEDULE
D

         

        Servicer’s
Certificate

         

        The
undersigned hereby certify that (i) they are, respectively, a duly elected Vice
President and Assistant Secretary of John Deere Capital Corporation and (ii)
this Servicing Certificate complies with the requirements of, and is being
delivered pursuant to, Section 4.09 of the Sale and Servicing Agreement (the
“Sale and Servicing Agreement”) dated as of June 1, 2009 between John Deere
Owner Trust 2009, John Deere Receivables, Inc. and John Deere Capital
Corporation.

      

      
        
          
             

            
              	 	 	 
	 	 	 	 	 
	Dated:	 	 	 
	 	 	Name: 
      	 	 
	 	 	Title: 
      	Vice
    President	 
	 	 	 	 	 

            

          

           

          
            
              
                
                  	 	 	 
	 	 	 	 	 
	 	 	 	 
	 	 	Name: 
      	 	 
	 	 	Title: 
      	Assistant
      Secretary	 
	 	 	 	 	 

                

              

               

            

          

        

      

       

       

       

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        
          Payment
Date:  ___________________________________

           

          Scheduled
Payment Date:

          Actual
Payment Date:

          Collection
Period Begin Date:

          Collection
Period End Date:

          Days in
accrual period for Act/360:

          Days in
accrual period for 30/360:

          

           

          
            	
                    (1) 

                  	
                    Total
      Distribution Amount:

                  

          

          
            	 	
                    (a) 

                  	
                    Total
      cash receipts during the month

                  

          

          
            	 	
                    (b) 

                  	
                    Administrative
      repurchases during the month

                  

          

          
            	 	
                    (c) 

                  	
                    Investment
      earnings on cash accounts

                  

          

        

         

        
          
            	
                    (2) 

                  	
                    (a)

                  	
                    Administration
      Fee:

                  

          

          
            	 	
                    (b) 

                  	
                    Administration
      Fee Shortfall:

                  

          

        

      

       

      
        
          	
                  (3) 

                	
                  Noteholders’
      Interest Distributable Amount deposited into Note Distribution
      Account:

                

        

        Noteholders’
Interest Carryover Shortfall:

        

        
          	
                  (a) 

                	
                  (i) 

                	
                  Noteholders’
      Interest Distributable Amount applicable to Class A-1
    Notes:

                

        

        
          	 	
                  (ii) 

                	
                  Noteholders’
      Interest Carryover Shortfall applicable to Class A-1
  Notes:

                

        

         

      

      
        
          	
                  (b) 

                	
                  (i) 

                	
                  Noteholders’
      Interest Distributable Amount applicable to Class A-2
      Notes:

                

        

        
          	 	
                  (ii) 

                	
                  Noteholders’
      Interest Carryover Shortfall applicable to Class A-2
      Notes:

                

        

      

       

      
        
          
            	
                    (c)

                  	
                    (i) 

                  	
                    Noteholders’
      Interest Distributable Amount applicable to Class A-3
      Notes:

                  

          

          
            	 	
                    (ii) 

                  	
                    Noteholders’
      Interest Carryover Shortfall applicable to Class A-3
      Notes:

                  

          

           

          
            
              
                	
                        (d)

                      	
                        (i) 

                      	
                        Noteholders’
      Interest Distributable Amount applicable to Class A-4
      Notes:

                      

              

              
                	 	
                        (ii) 

                      	
                        Noteholders’
      Interest Carryover Shortfall applicable to Class A-4
      Notes:

                      

              

            

          

          
             

            
              	
                      (4)

                    	
                      Noteholders’
      Monthly  Principal Distributable Amount deposited into Note
      Distribution Account:

                    

            

            Noteholders’
Principal Carryover Shortfall:

             

            
              	
                      (a) 

                    	
                      (i)
      

                    	
                      Class
      A-1 Noteholders’ Monthly Principal Distributable
  Amount:

                    

            

            
              	 	
                      (ii)

                    	
                      %
      of Principal Distributable Amount applicable to Class A-1
      Noteholders:

                    

            

            
              	 	
                      (iii)

                    	
                      Class
      A-1 Noteholders’ Principal Carryover
Shortfall:

                    

            

            
              	 	
                      (iv)

                    	
                      Class
      A-1 Noteholders’ Principal Distributable
Amount:

                    

            

             

            
              	
                      (b) 

                    	
                      (i)
      

                    	
                      Class
      A-2 Noteholders’ Monthly Principal Distributable
  Amount:

                    

            

            
              	 	
                      (ii)

                    	
                      %
      of Principal Distributable Amount applicable to Class A-2
      Noteholders:

                    

            

            
              	 	
                      (iii)

                    	
                      Class
      A-2 Noteholders’ Principal Carryover
Shortfall:

                    

            

            
              	 	
                      (iv)

                    	
                      Class
      A-2 Noteholders’ Principal Distributable
Amount:

                    

            

             

            
              
                
                

              

              
                
                

                
                  

                

              

              
                
                

              

            

             

            
              	
                      (c)

                    	
                      (i)
      

                    	
                      Class
      A-3 Noteholders’ Monthly Principal Distributable
  Amount:

                    

            

            
              	 	
                      (ii)

                    	
                      %
      of Principal Distributable Amount applicable to Class A-3
      Noteholders:

                    

            

            
              	 	
                      (iii)

                    	
                      Class
      A-3 Noteholders’ Principal Carryover
Shortfall:

                    

            

            
              	 	
                      (iv)

                    	
                      Class
      A-3 Noteholders’ Principal Distributable
Amount:

                    

            

             

            
              	
                      (d) 

                    	
                      (i)

                    	
                      Class
      A-4 Noteholders’ Monthly Principal Distributable
  Amount:

                    

            

            
              	 	
                      (ii)

                    	
                      %
      of Principal Distributable Amount applicable to Class A-4
      Noteholders:

                    

            

            
              	 	
                      (iii)

                    	
                      Class
      A-4 Noteholders’ Principal Carryover
Shortfall:

                    

            

            
              	 	
                      (iv)

                    	
                      Class
      A-4 Noteholders’ Principal Distributable
Amount:

                    

            

             

            
              	
                      (5) 

                    	
                       Noteholders’
      Distributable Amount:

                    

            

             

            
              	
                      (6) 

                    	
                       Reserve
      Account balance

                    

            

            
              	 	
                      (a) 

                    	
                      Beginning
      balance

                    

            

            
              	 	
                      (b) 

                    	
                      Amount
      of deposit from Collection Account to Reserve
  Account

                    

            

            
              	 	
                      (i)

                    	
                      Amount
      to increase the amount on deposit in the Reserve Account to the Specified
      Reserve Account Balance

                    

            

            
              	 	
                      (ii)

                    	
                      Amount
      of excess to Reserve Account from Collection
  Account

                    

            

            
              	 	
                      (c) 

                    	
                       Amount
      to be withdrawn from the Reserve Account and deposited into Note
      Distribution Account (5.05(c)):

                    

            

            
              	 	
                      (i)

                    	
                      Interest
      Amount included above:

                    

            

            
              	 	
                      (ii)

                    	
                      Principal
      Amount included above:

                    

            

            
              	 	
                      (d) 

                    	
                      Reserve
      Account Balance over the Specified Reserve Account Balance (before any
      distribution of excess)

                    

            

            
              	 	
                      (e) 

                    	
                      Ending
      Balance (after giving effect to all
  distributions)

                    

            

            
              	 	
                      (f) 

                    	
                      Specified
      Reserve Account Balance

                    

            

             

            
              	
                      (7) 

                    	
                      Servicing
      Fee:

                    

            

            
              	 	
                      (a)

                    	
                      Amount
      of Servicing Fee earned:

                    

            

            
              	 	
                      (b)

                    	
                      Amount
      of Servicing Fee paid:

                    

            

            
              	 	
                      (c)

                    	
                      Amount
      of Servicing Fee Shortfall:

                    

            

             

            
              	
                      (8) 

                    	
                      Amount
      paid to Indenture Trustee:

                    

            

             

            
              	
                      (9) 

                    	
                      Amount
      paid to Owner Trustee:

                    

            

             

            
              	
                      (10) 

                    	
                      (a)

                    	
                      Certificateholders’
      Monthly Principal Distributable Amount applicable to current
      period:

                    

            

            
              	 	
                      (b)

                    	
                      %
      of Principal Distribution Amount applicable to
      Certificateholders:

                    

            

            
              	 	
                      (c)

                    	
                      ‘Certificateholders’
      Principal Carryover Shortfall:

                    

            

            
              	 	
                      (d)

                    	
                      Certificateholders’
      Principal Distributable Amount:

                    

            

             

            
              	
                      (11) 

                    	
                      Excess
      Reserve Account Balance Distributable to Seller (5.05(b)(i) or
      (ii)):

                    

            

             

            
              
                	
                        (12) 

                      	
                        (a)
      

                      	
                        Pool
      Balance (excluding accrued interest) as of close of business on the last
      day of the related Collection
Period:

                      

              

               

              
                
                  
                  

                

                
                  
                  

                  
                    

                  

                

                
                  
                  

                

              

               

            

            
              	 	
                      (b)

                    	
                      Note
      Value as of the end of the related Collection
  Period:

                    

            

            
              	 	
                      (c)

                    	
                      Number
      of Accounts at the end of the related Collection
  Period:

                    

            

             

            
              	
                      (13) 

                    	
                      After
      giving effect to all distributions on such Payment
  Date:

                    

            

            
              	
                      (a)

                    	
                      (i)

                    	
                      Outstanding
      Principal Balance of Class A-1
Notes:

                    

            

            
              	 	
                      (ii)

                    	
                      Class
      A-1 Note Pool Factor:

                    

            

             

            
              	
                      (b)

                    	
                      (i)

                    	
                      Outstanding
      Principal Balance of Class A-2
Notes:

                    

            

            
              	 	
                      (ii)

                    	
                      Class
      A-2 Note Pool Factor:

                    

            

             

            
              	
                      (c)

                    	
                      (i)

                    	
                      Outstanding
      Principal Balance of Class A-3
Notes:

                    

            

            
              	 	
                      (ii)

                    	
                      Class
      A-3 Note Pool Factor:

                    

            

             

            
              	
                      (d)

                    	
                      (i)

                    	
                      Outstanding
      Principal Balance of Class A-4
Notes:

                    

            

            
              	 	
                      (ii)

                    	
                      Class
      A-4 Note Pool Factor:

                    

            

             

            
              
                	
                        (e)

                      	
                        (i)

                      	
                        Outstanding
      Principal Balance of the
Certificates:

                      

              

            

            
              	 	
                      (ii)

                    	
                      Certificate
      Pool Factor:

                    

            

             

            
              	
                      (14) 

                    	
                      Aggregate
      amount of Purchased Receivables for related Collection
    Period:

                    

            

             

            
              	
                      (15)

                    	
                      (i)

                    	
                      Aggregate amount
      of net losses for the collection period
  :

                    

            

            
              	 	
                      (ii)

                    	
                      Cumulative amount
      of net losses:

                    

            

            
              	 	
                      (iii)

                    	
                      Cumulative net
      loss as a percent of Initial Pool Balance
      (Cumulative Net Loss Ratio):

                    

            

             

            
              	
                      (16)

                    	
                              Face Amount of
      Receivables 60 days or more past due as a % of the Pool
      Balance:

                    

            

             

            
              	
                      (17) 

                    	
                      Collateral
      Composition:

                    

            

            
              	 	
                      (a) 

                    	
                      Number of loans
      at the beginning of the
period:

                    

            

            
              	 	
                      (b) 

                    	
                      Number of loans
      at the end of the period:

                    

            

            
              	 	
                      (c) 

                    	
                      Weighted average
      remaining term on
receivables:

                    

            

            
              	 	
                      (d)

                    	
                      Prepayment amount
      – monthly:

                    

            

            
              	 	
                      (e) 

                    	
                      Prepayment amount
      - life-to-date:

                    

            

            
              	 	
                      (f) 

                    	
                      Weighted average
      APR of the pool
assets:

                    

            

            
              	 	
                      (g) 

                    	
                      Pool
      Factor:

                    

            

             

          

          
            
              
              

            

            
              
              

              
                

              

            

            
              
              

            

          

           

          
            Officer’s
Certificate

             

            The
undersigned hereby certify that (i) they are, respectively, a duly elected Vice
President and Assistant Secretary of John Deere Capital Corporation, (ii)
Schedule E hereto complies with the requirements of, and is being delivered
pursuant to, Section 5.06(a) of the Sale and Servicing Agreement (the “Sale and
Servicing Agreement”) dated as of June 1, 2009  between John Deere
Owner Trust 2009, John Deere Receivables, Inc. and John Deere Capital
Corporation, (iii) Schedule F hereto complies with the requirements of, and is
delivered pursuant to, Section 5.06(a) of the Sale and Servicing Agreement, and
(iv) Schedule G hereto complies with the requirements of, and is being delivered
pursuant to, Section 5.04(b) of the Sale and Servicing
Agreement.

          

          
            
              
                
                   

                  
                    	 	 	 
	 	 	 	 	 
	Dated:	 	 	 
	 	 	Name: 
      	 	 
	 	 	Title: 
      	Vice
    President	 
	 	 	 	 	 

                  

                

                 

                
                  
                    
                      
                        	 	 	 
	 	 	 	 	 
	 	 	 	 
	 	 	Name: 
      	 	 
	 	 	Title: 
      	Assistant
      Secretary	 
	 	 	 	 	 

                      

                    

                     

                  

                

              

            

             

          

           

           

           

           

          
            
              
              

            

            
              
              

              
                

              

            

            
              
              

            

          

           

          
            SCHEDULE
E

             

            Statement
to Certificateholder

            pursuant
to Section 5.06(a)

             

            Payment Date: 
___________________________________________

             

            
              	
                      (1) 

                    	
                      Amount
      of principal being paid or
distributed:

                    

            

             

            
              	
                       
      

                    	
                      (a)

                    	
                      Class
      A-1 Notes:

                    

            

             

            
              	
                       
      

                    	
                      per
      $1,000 original principal amount:

                    

            

             

            
              	
                       
      

                    	
                      (b)

                    	
                      Class
      A-2 Notes:

                    

            

             

            
              	
                       
      

                    	
                      per
      $1,000 original principal amount:

                    

            

             

            
              	
                       
      

                    	
                      (c)

                    	
                      Class
      A-3 Notes:

                    

            

             

            
              	
                       
      

                    	
                      per
      $1,000 original principal amount:

                    

            

             

            
              	
                       
      

                    	
                      (d)

                    	
                      Class
      A-4 Notes:

                    

            

             

            
              	
                       
      

                    	
                      per
      $1,000 original principal amount:

                    

            

             

            
              	
                       
      

                    	
                      (e)

                    	
                      Certificate:

                    

            

             

            
              	
                       
      

                    	
                      per
      $1,000 original principal amount:

                    

            

             

            
              	
                       
      

                    	
                      (f)

                    	
                      Total:

                    

            

             

            
              	(2)	
                      (a) 

                    	
                      Amount
      of interest being paid or
distributed:

                    

            

             

            
              	
                       
      

                    	
                      (i)

                    	
                      Class
      A-1 Notes:

                    

            

            
              	
                       
      

                    	
                      per
      $1,000 original principal amount:

                    

            

             

            
              	
                       
      

                    	
                      (ii)

                    	
                      Class
      A-2 Notes:

                    

            

            
              	
                       
      

                    	
                      per
      $1,000 original principal amount:

                    

            

             

            
              	
                       
      

                    	
                      (iii)

                    	
                      Class
      A-3 Notes:

                    

            

            
              	
                       
      

                    	
                      per
      $1,000 original principal amount:

                    

            

             

            
              	
                       
      

                    	
                      (iv)

                    	
                      Class
      A-4 Notes:

                    

            

            
              	
                       
      

                    	
                      per
      $1,000 original principal amount:

                    

            

             

            
              	
                       
      

                    	
                      (v)

                    	
                      Total:

                    

            

             

            
              	
                      (3) 

                    	
                      (a)

                    	
                      Pool
      Balance at end of related Collection
Period:

                    

            

             

            
              	
                       
      

                    	
                      (b)

                    	
                      Note
      Value at end of related Collection
Period:

                    

            

             

            
              	
                       
      

                    	
                      (c)

                    	
                      Pool
      Face Amount at the end of related Collection
  Period:

                    

            

             

            
              
                
                

              

              
                
                

                
                  

                

              

              
                
                

              

            

             

            
              
                	
                        (4)

                      	
                        After
      giving effect to distributions on this Payment
  Date:

                      

              

            

            
               

              
                	
                         
      

                      	
                        (a)

                      	
                        (i)

                      	
                        Outstanding
      principal amount of Class A-1
Notes:

                      

              

               

            

            
              	
                    	
                      (ii) 

                    	
                      A-1
      Note Pool Factor:

                    

            

             

            
              	
                       
      

                    	
                      (b)

                    	
                      (i)

                    	
                      Outstanding
      principal amount of Class A-2
Notes:

                    

            

             

            
              	
                       
      

                    	
                      (ii)

                    	
                      A-2
      Note Pool Factor:

                    

            

             

            
              	
                       
      

                    	
                      (c)

                    	
                      (i)

                    	
                      Outstanding
      principal amount of Class A-3
Notes:

                    

            

             

            
              	
                    	
                      (ii) 

                    	
                      A-3
      Note Pool Factor:

                    

            

             

            
              	
                       
      

                    	
                      (d)

                    	
                      (i)

                    	
                      Outstanding
      principal amount of Class A-4
Notes:

                    

            

             

            
              	
                       
      

                    	
                      (ii)

                    	
                      A-4
      Note Pool Factor:

                    

            

             

            
              	
                       
      

                    	
                      (e)

                    	
                      (i)

                    	
                      Certificate
      Balance:

                    

            

             

            
              	
                       
      

                    	
                      (ii)

                    	
                      Certificate
      Pool Factor:

                    

            

             

            
              	
                      (5)

                    	
                      (a)

                    	
                      Amount
      of Servicing Fee:

                    

            

            
              	
                    	
                      (i)

                    	
                      per
      $1,000 original principal amount of Notes and
  Certificate:

                    

            

             

            
              	
                    	
                      (b) 

                    	
                      Amount
      of Servicing Fee earned:

                    

            

             

            
              	
                    	
                      (c) 

                    	
                      Amount
      of Servicing Fee paid:

                    

            

             

            
              	
                    	
                      (d) 

                    	
                      Amount
      of Servicing Fee shortfall:

                    

            

             

            
              	
                      (6) 

                    	
                      Amount
      of Administration Fee:

                    

            

             

            
              	
                      (7) 

                    	
                      Amount
      paid to Indenture Trustee:

                    

            

             

            
              	
                      (8) 

                    	
                      Amount
      paid to Owner Trustee:

                    

            

             

            
              	
                      (9) 

                    	
                      Aggregate
      Purchase Amounts for Collection
Period:

                    

            

             

            
              	
                      (10) 

                    	
                      (i)

                    	
                      Amount
      in Reserve Account:

                    

            

             

            
              	
                       
      

                    	
                      (ii)

                    	
                      Specified
      Reserve Account Balance:

                    

            

             

            
              	
                      (11)

                    	
                      (i)

                    	
                      Face
      Amount of Receivables 60 days or more past
due:

                    

            

             

            
              
                	
                         

                      	
                        
                          (ii)

                        

                      	
                        
                          Face
      Amount of Receivables 60 days or more past due as a percent of the
      PoolBalance at the end of the related Collection
    Period:

                        

                      

              

            

             

            
              	(12)	
                      (i) 

                    	
                      Aggregate
      amount of net losses for the collection
period:

                    

            

             

            
              
                
                

              

              
                
                

                
                  

                

              

              
                
                

              

            

             

            
              	
                    	
                      (ii)

                    	
                      Cumulative amount of net
      losses:

                    

            

             

            
              	
                    	
                      (iii)

                    	
                      Cumulative net losses as a percent
      of initial Pool Balance (Cumulative Net LossRatio):

                    

            

             

             

             

             

             

             

             

             

             

             

            
              
                
                

              

              
                
                

                
                  

                

              

              
                
                

              

            

            

              SCHEDULE
F

               

              Statement
for Noteholders

               

              pursuant
to Section 5.06(a)

               

              Payment Date: 
____________________________________________________________

               

              
                	
                        (1) 

                      	
                        Before
      giving effect to distributions on this Payment
  Date:

                      

              

               

              
                	
                        (a) 

                      	
                        (i)  

                      	
                        outstanding
      principal amount of Class A-1
Notes:

                      

              

              
                
                  	
                        	
                          (ii) 

                        	
                          A-1
      Note Pool Factor

                        

                

              

               

              
                
                  	
                          (b)

                        	
                          (i) 

                        	
                          outstanding
      principal amount of Class A-2
Notes:

                        

                

              

              
                	
                      	
                        (ii) 

                      	
                        A-2
      Note Pool Factor

                      

              

               

              
                	
                        (c) 

                      	
                        (i)

                      	
                        outstanding
      principal amount of Class A-3
Notes:

                      

              

              
                	
                      	
                        (ii) 

                      	
                        A-3
      Note Pool Factor

                      

              

               

              
                	
                        (d)

                      	
                        (i)

                      	
                        outstanding
      principal amount of Class A-4
Notes:

                      

              

              
                	
                      	
                        (ii) 

                      	
                        A-4
      Note Pool Factor

                      

              

               

              
                	
                        (2) 

                      	
                        Amount
      of principal being paid on Notes:

                      

              

               

              
                	
                         
      

                      	
                        (a)

                      	
                        Class
      A-1 Notes:

                      

              

              
                	
                         
      

                      	
                        per
      $1,000 original principal amount:

                      

              

               

              
                	
                         
      

                      	
                        (b)

                      	
                        Class
      A-2 Notes:

                      

              

              
                	
                         
      

                      	
                        per
      $1,000 original principal amount:

                      

              

               

              
                	
                         
      

                      	
                        (c)

                      	
                        Class
      A-3 Notes:

                      

              

              
                	
                         
      

                      	
                        per
      $1,000 original principal amount:

                      

              

               

              
                	
                         
      

                      	
                        (d)

                      	
                        Class
      A-4 Notes:

                      

              

              
                	
                         
      

                      	
                        per
      $1,000 original principal amount:

                      

              

               

              
                	
                         
      

                      	
                        (e)

                      	
                        Total:

                      

              

               

              
                	(3)	
                        (a) 

                      	
                        Amount
      of interest being paid on Notes:

                      

              

               

              
                	
                         
      

                      	
                        (i)

                      	
                        Class
      A-1 Notes:

                      

              

              
                	
                         
      

                      	
                        per
      $1,000 original principal amount:

                      

              

               

              
                	
                         
      

                      	
                        (ii)

                      	
                        Class
      A-2 Notes:

                      

              

              
                	
                         
      

                      	
                        per
      $1,000 original principal amount:

                      

              

               

              
                	
                         
      

                      	
                        (iii)

                      	
                        Class
      A-3 Notes:

                      

              

              
                	
                         
      

                      	
                        per
      $1,000 original principal amount:

                      

              

               

              
                
                  
                  

                

                
                  
                  

                  
                    

                  

                

                
                  
                  

                

              

               

               

              
                	
                         
      

                      	
                        (iv)

                      	
                        Class
      A-4 Notes:

                      

              

              
                	
                         
      

                      	
                        per
      $1,000 original principal amount:

                      

              

               

              
                	
                         
      

                      	
                        (v)

                      	
                        Total:

                      

              

               

              
                	
                        (4)

                      	
                        (a) 

                      	
                        Pool
      Balance (excluding accrued
interest):

                      

              

               

              
                	
                      	
                        (i) 

                      	
                        at
      beginning of related Collection
Period:

                      

              

               

              
                	
                      	
                        (ii) 

                      	
                        at
      end of related Collection Period:

                      

              

               

              
                
                  	
                        	
                          (b) 

                        	
                          
                            
                            
Note
      Value:

                        

                

              

               

              
                	
                      	
                        (i) 

                      	
                        at
      beginning of related Collection
Period:

                      

              

               

              
                	
                      	
                        (ii) 

                      	
                        at
      end of related Collection Period:

                      

              

               

              
                	
                         
      

                      	
                        (c)

                      	
                        Pool
      Face Amount:

                      

              

               

              
                	
                      	
                        (i) 

                      	
                        at
      beginning of related Collection
Period:

                      

              

               

              
                	
                      	
                        (ii) 

                      	
                        at
      end of related Collection Period:

                      

              

               

              
                	
                        (5) 

                      	
                        After
      giving effect to distributions on this Payment
  Date:

                      

              

               

              
                	
                         
      

                      	
                        (a)

                      	
                        (i)

                      	
                        Outstanding
      principal amount of Class A-1
Notes:

                      

              

               

              
                	
                        (ii) 

                      	
                                  A-1
      Note Pool Factor:

                      

              

               

              
                	
                         
      

                      	
                        (b)

                      	
                        (i)

                      	
                        Outstanding
      principal amount of Class A-2
Notes:

                      

              

               

              
                	
                         
      

                      	
                        (ii)

                      	
                        A-2
      Note Pool Factor:

                      

              

               

              
                	
                         
      

                      	
                        (c)

                      	
                        (i)

                      	
                        Outstanding
      principal amount of Class A-3
Notes:

                      

              

               

              
                	
                      	
                        (ii) 

                      	
                        A-3
      Note Pool Factor:

                      

              

               

              
                	
                         
      

                      	
                        (d)

                      	
                        (i)

                      	
                        Outstanding
      principal amount of Class A-4
Notes:

                      

              

               

              
                	
                         
      

                      	
                        (ii)

                      	
                        A-4
      Note Pool Factor:

                      

              

               

              
                	
                         
      

                      	
                        (e)

                      	
                        (i)

                      	
                        Certificate
      Balance:

                      

              

               

              
                	
                      	
                        (ii) 

                      	
                        Certificate
      Pool Factor:

                      

              

               

              
                	
                        (6)

                      	
                        (a)

                      	
                        Amount
      of Servicing Fee:

                      

              

              
                	
                      	
                         
      

                      	
                        per
      $1,000 original principal amount of Notes and
  Certificate:

                      

              

               

              
                	
                      	
                        (b) 

                      	
                        Amount
      of Servicing Fee earned:

                      

              

               

              
                
                  
                  

                

                
                  
                  

                  
                    

                  

                

                
                  
                  

                

              

               

              
                	
                      	
                        (c) 

                      	
                        Amount
      of Servicing Fee paid:

                      

              

               

              
                	
                      	
                        (d) 

                      	
                        Amount
      of Servicing Fee shortfall:

                      

              

               

              
                	
                        (7) 

                      	
                        Amount
      of Administration Fee:

                      

              

               

              
                	
                        (8) 

                      	
                        Aggregate
      Purchase Amounts for Collection
Period:

                      

              

               

              
                	
                        (9)

                      	
                        (i) 

                      	
                        Amount
      in Reserve Account:

                      

              

               

              
                	
                         
      

                      	
                        (ii)

                      	
                        Specified
      Reserve Account Balance:

                      

              

               

              
                	
                        (10)

                      	
                        (i)

                      	
                        Face
      Amount of Receivables 60 days or more past
due:

                      

              

               

              
                	
                      	
                        (ii) 

                      	
                        Face
      Amount of Receivables 60 days or more past due as a percent of the
      PoolBalance at the end of the related Collection
  Period:

                      

              

               

              
                	(11)	
                        (i) 

                      	
                        Aggregate
      amount of net losses for the collection
period:

                      

              

               

              
                	
                      	
                        (ii)

                      	
                        Cumulative amount of net
      losses:

                      

              

               

              
                	
                      	
                        (iii)

                      	
                        Cumulative net losses as a percent
      of initial Pool Balance (Cumulative Net Loss Ratio):

                      

              

               

            

          

           

           

           

          
            
              
              

            

            
              
              

              
                

              

            

            
              
              

            

          

           

          
            SCHEDULE
G

             

            Instructions
to the Trustee for payments and deposits pursuant to Section 5.04 (b) of the
Sale and Servicing Agreement:

             

            Payment
Date:  ____________________

             

            
              	
                      (i)

                    	
                      Payment
      of Servicing Fee (including any previously unpaid Servicing Fees) to
      Servicer:  ____________________

                    

            

             

            
              	
                      (ii)

                    	
                      Payment
      of Administration Fee to
      Administrator:  ____________________

                    

            

             

            
              	
                      (iii)

                    	
                      Accrued
      and unpaid interest on the Notes for such Payment
      Date:  ____________________

                    

            

             

            
              	
                      (iv)

                    	
                      Note
      Monthly Principal Distributable Amount to be deposited into Note
      Distribution
  Account:  ____________________

                    

            

             

            
              	
                      (v)

                    	
                      Deposit
      to Reserve Account to increase the amounts on deposit in the Reserve
      Account to the Specified Reserve Account
      Balance:  ____________________

                    

            

             

            
              	
                      (vi)

                    	
                      Certificate
      Monthly Principal Distributable Amount to be deposited into Certificate
      Distribution
  Account:  ____________________

                    

            

             

            
              	
                      (vii) 

                    	
                      Deposit
      to Reserve
  Account:  ____________________

                    

            

             

          

           

          
            
              
              

            

            
              
              

              
                

              

            

            
              
              

            

          

           

          
            APPENDIX
A

             

            Servicing
Criteria

             

            The
assessment of compliance to be delivered by the Indenture Trustee shall address
the criteria identified below.

            

            
              
                
                  	
                          Reference

                           

                        	
                          Servicing
      Criteria

                           

                        
	
                           

                          1122(d)(2)(ii)

                        	
                           

                          Disbursements
      made via wire transfer on behalf of an obligor or to an investor are made
      only by authorized personnel.

                        
	
                           

                          1122(d)(2)(iv)

                        	
                           

                          The
      related accounts for the transaction, such as cash reserve accounts or
      accounts established as a form of overcollateralization, are separately
      maintained (e.g., with respect to commingling of cash) as set forth in the
      transaction agreements.

                           

                        
	
                           

                          1122(d)(2)(v)

                        	
                           

                          Each
      custodial account is maintained at a federally insured depository
      institution as set forth in the transaction agreements. For purposes of
      this criterion, “federally insured depository institution” with respect to
      a foreign financial institution means a foreign financial institution that
      meets the requirements of Rule 13k-1(b)(1) of the Securities
      Exchange Act.

                           

                        
	
                           

                          1122(d)(3)(ii)

                        	
                           

                          Amounts
      due to investors are allocated and remitted in accordance with timeframes,
      distribution priority and other terms set forth in the transaction
      agreements.

                           

                        
	
                           

                          1122(d)(3)(iii)

                        	
                           

                          Disbursements
      made to an investor are posted within two business days to the Servicer’s
      investor records, or such other number of days specified in the
      transaction agreements.

                           

                        
	
                           

                          1122(d)(3)(iv)

                        	
                           

                          Amounts
      remitted to investors per the investor reports agree with cancelled
      checks, or other form of payment, or custodial bank
      statements.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00159-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00159-of-00352.parquet"}]]