Document:

Exhibit 4.1

    EXHIBIT
      4.1

    
      

      

    

     

    INDENTURE

     

    

     

    CATERPILLAR
      FINANCIAL ASSET TRUST 2006-A

     

    Class
      A-1
      5.45498% Asset Backed Notes

     

    Class
      A-2
      5.59% Asset Backed Notes

     

    Class
      A-3
      5.57% Asset Backed Notes

     

    Class
      A-4
      5.62% Asset Backed Notes

     

    Class
      B
      5.71% Asset Backed Notes

     

    

     

    Dated
      as
      of June 1, 2006

     

     

      
        

      

    

     

     

    

     

    U.S.
      BANK NATIONAL ASSOCIATION

     

    Indenture
      Trustee

     

    

     

    
      

      

    

     

     

    

     

    

    
      
        
          
             

          

          
          

        

        
          
          

          
            

          

        

        
          
          

          
          

        

      

    

    

    RECONCILIATION
      AND TIE BETWEEN TRUST INDENTURE

     

    ACT
      OF
      1939 AND INDENTURE PROVISIONS* 

     

    
      	
              Trust
                Indenture Act Section

               

            	
              Indenture
                Section

            
	
              310(a)(1) 

            	
              6.11

            
	
                   
                (a)(2) 

            	
              6.11

            
	
                   
                (a)(3) 

            	
              6.10

            
	
                   
                (a)(4) 

            	
              Not
                Applicable

            
	
                   
                (b) 

            	
              6.08,
                6.11

            
	
                   
                (c) 

            	
              Not
                Applicable

            
	
              311(a) 

            	
              6.12

            
	
                   
                (b) 

            	
              6.12

            
	
              312(a) 

            	
              7.01(a)

            
	
                   
                (b) 

            	
              7.02(b)

            
	
                   
                (c) 

            	
              7.02(c)

            
	
              313(a) 

            	
              7.04

            
	
                   
                (b) 

            	
              7.04

            
	
                   
                (c) 

            	
              7.04

            
	
                   
                (d) 

            	
              7.04

            
	
              314(a) 

            	
              3.09,
                7.03(a)

            
	
                   
                (b) 

            	
              3.06

            
	
                   
                (c)(1) 

            	
              2.09,
                8.04(b), 11.01(a)

            
	
                   
                (c)(2) 

            	
              2.09,
                8.04(b), 11.01(a)

            
	
                   
                (c)(3) 

            	
              2.09,
                8.04(b), 11.01(a)

            
	
                   
                (d)(1) 

            	
              2.09,
                8.04(b), 11.01(a)

            
	
                   
                (d)(2) 

            	
              Not
                Applicable

            
	
                   
                (d)(3) 

            	
              Not
                Applicable

            
	
                   
                (e) 

            	
              11.01(a)

            
	
              315(a) 

            	
              6.01(b)

            
	
                   
                (b) 

            	
              6.05

            
	
                   
                (c) 

            	
              6.01(a)

            
	
                   
                (d) 

            	
              6.01(b)

            
	
                   
                (d)(1) 

            	
              6.01(b)

            
	
                   
                (d)(2) 

            	
              6.01(c)

            
	
                   
                (d)(3) 

            	
              6.01(c)

            
	
                   
                (e) 

            	
              5.13

            
	
              316(a)(1)(A) 

            	
              5.11

            
	
              316(a)(1)(B) 

            	
              5.12

            
	
              316(a)(2) 

            	
              Not
                Applicable

            
	
              316(b) 

            	
              5.07

            
	
              317(a)(1) 

            	
              5.03

            
	
              317(a)(2) 

            	
              5.03

            
	
              317(b) 

            	
              5.03

            
	
              318(a) 

            	
              11.07

            

    

    

    

      

      
        *
          This
          reconciliation and tie shall not, for any purpose, be deemed to be part
          of the
          within indenture.

      

    

    

    
      
        
          
             

          

          
          

        

        
          i

          
            

          

        

        
          
          

          
            

          

        

      

    

     

     

    TABLE
      OF CONTENTS

    

    ARTICLE
      I     DEFINITIONS
      AND INCORPORATION BY
      REFERENCE...........................................................................................3

     

    SECTION
      1.01.  Definitions........................................................................................................................................................3

    SECTION
      1.02.  Incorporation
      by Reference of Trust Indenture
      Act................................................................................12

    SECTION
      1.03.  Calculations
      of
      Interest.................................................................................................................................12

     

    ARTICLE
      II     THE
      NOTES......................................................................................................................................................................12

     

    SECTION
      2.01.  Form.................................................................................................................................................................12

    SECTION
      2.02.  Execution,
      Authentication and
      Delivery....................................................................................................13

    SECTION
      2.03.  Temporary
      Notes...........................................................................................................................................13

    SECTION
      2.04.  Registration;
      Registration of Transfer and
      Exchange..............................................................................14

    SECTION
      2.05.  Mutilated,
      Destroyed, Lost or Stolen
      Notes..............................................................................................15

    SECTION
      2.06.  Persons
      Deemed
      Owner................................................................................................................................16

    SECTION
      2.07.  Payment
      of Principal and Interest; Defaulted
      Interest..............................................................................16

    SECTION
      2.08.  Cancellation.....................................................................................................................................................17

    SECTION
      2.09.  Release
      of
      Collateral.......................................................................................................................................17

    SECTION
      2.10.  Book-Entry
      Notes...........................................................................................................................................17

    SECTION
      2.11.  Notices
      to Clearing
      Agency..........................................................................................................................18

    SECTION
      2.12.  Definitive
      Notes..............................................................................................................................................18

    SECTION
      2.13.  Representations
      and Covenants by Noteholders and Note
      Owners.....................................................19

    SECTION
      2.14.  Tax
      Treatment.................................................................................................................................................19

     

    ARTICLE
      III     COVENANTS...................................................................................................................................................................19

     

    SECTION
      3.01.  Payment
      of Principal and
      Interest................................................................................................................19

    SECTION
      3.02.  Maintenance
      of Office or
      Agency...............................................................................................................20

    SECTION
      3.03.  Money
      for
      Payments To Be Held in
      Trust.................................................................................................20

    SECTION
      3.04.  Existence..........................................................................................................................................................21

    SECTION
      3.05.  Protection
      of Trust
      Estate.............................................................................................................................21

    SECTION
      3.06.  Opinions
      as to Trust
      Estate..........................................................................................................................22

    SECTION
      3.07.  Performance
      of Obligations; Servicing of
      Receivables............................................................................22

    SECTION
      3.08.  Negative
      Covenants......................................................................................................................................24

    SECTION
      3.09.  Statements
      as to
      Compliance.......................................................................................................................25

    SECTION
      3.10.  Issuing
      Entity May Consolidate, etc., Only on Certain
      Terms...............................................................25

    SECTION
      3.11.  Successor
      or
      Transferee...............................................................................................................................27

    SECTION
      3.12.  No
      Other
      Business........................................................................................................................................27

    SECTION
      3.13.  No
      Borrowing.................................................................................................................................................27

    SECTION
      3.14.  Servicer's
      Obligations...................................................................................................................................27

    SECTION
      3.15.  Guarantees,
      Loans, Advances and Other
      Liabilities................................................................................27

    SECTION
      3.16.  Capital
      Expenditures.....................................................................................................................................28

    SECTION
      3.17.  Removal
      of
      Administrator............................................................................................................................28

    SECTION
      3.18.  Restricted
      Payments.....................................................................................................................................28

    SECTION
      3.19.  Notice
      of
      Events of
      Default.........................................................................................................................28

    SECTION
      3.20.  Further
      Instruments and
      Acts.....................................................................................................................28

     

    
      
        
        

      

      
        -i-

        
          

        

      

      
        
        

      

    

    ARTICLE
      IV     SATISFACTION
      AND
      DISCHARGE..........................................................................................................................28

     

    SECTION
      4.01.  Satisfaction
      and Discharge of
      Indenture...................................................................................................28

    SECTION
      4.02.  Application
      of Trust
      Money.......................................................................................................................30

    SECTION
      4.03.  Repayment
      of Monies Held by Paying
      Agent.........................................................................................30

     

    ARTICLE
      V     REMEDIES........................................................................................................................................................................30

     

    SECTION
      5.01.  Events
      of
      Default...........................................................................................................................................30

    SECTION
      5.02.  Acceleration
      of Maturity; Rescission and
      Annulment............................................................................31

    SECTION
      5.03.  Collection
      of Indebtedness and Suits for Enforcement by Indenture
      Trustee.....................................32

    SECTION
      5.04.  Remedies;
      Priorities.......................................................................................................................................34

    SECTION
      5.05.  Optional
      Preservation of the
      Receivables..................................................................................................36

    SECTION
      5.06.  Limitation
      of
      Suits..........................................................................................................................................36

    SECTION
      5.07.  Unconditional
      Rights of Noteholders to Receive Principal and
      Interest..............................................37

    SECTION
      5.08.  Restoration
      of Rights and
      Remedies...........................................................................................................37

    SECTION
      5.09.  Rights
      and Remedies
      Cumulative................................................................................................................37

    SECTION
      5.10.  Delay
      or
      Omission Not a
      Waiver.................................................................................................................37

    SECTION
      5.11.  Control
      by
      Noteholders................................................................................................................................38

    SECTION
      5.12.  Waiver
      of
      Past
      Defaults................................................................................................................................38

    SECTION
      5.13.  Undertaking
      for
      Costs...................................................................................................................................39

    SECTION
      5.14.  Waiver
      of
      Stay or Extension
      Laws..............................................................................................................39

    SECTION
      5.15.  Action
      on
      Notes............................................................................................................................................39

    SECTION
      5.16.  Performance
      and Enforcement of Certain
      Obligations.............................................................................39

     

    ARTICLE
      VI     THE
      INDENTURE
      TRUSTEE.......................................................................................................................................40

     

    SECTION
      6.01.  Duties
      of
      Indenture
      Trustee........................................................................................................................40

    SECTION
      6.02.  Rights
      of
      Indenture
      Trustee........................................................................................................................42

    SECTION
      6.03.  Individual
      Rights of Indenture
      Trustee.....................................................................................................42

    SECTION
      6.04.  Indenture
      Trustee's
      Disclaimer...................................................................................................................42

    SECTION
      6.05.  Notice
      of
      Defaults.........................................................................................................................................42

    SECTION
      6.06.  Reports
      by Indenture Trustee to
      Holders.................................................................................................43

    SECTION
      6.07.  Compensation
      and
      Indemnity.....................................................................................................................43

    SECTION
      6.08.  Replacement
      of Indenture
      Trustee.............................................................................................................43

    SECTION
      6.09.  Successor
      Indenture Trustee by
      Merger..................................................................................................44

    SECTION
      6.10.  Appointment
      of Co-Trustee or Separate Indenture
      Trustee..................................................................45

    SECTION
      6.11.  Eligibility;
      Disqualification..........................................................................................................................46

    SECTION
      6.12.  Preferential
      Collection of Claims Against Issuing
      Entity.......................................................................47

    SECTION
      6.13.  Appointment
      of
      Custodians.......................................................................................................................47

    SECTION
      6.14.  Representations
      and Warranties of the Indenture
      Trustee...................................................................47

     

    
      
        
        

      

      
        -ii-

        
          

        

      

      
        
        

        
           

           

           

        

      

    

    ARTICLE
      VII     NOTEHOLDERS'
      LISTS AND
      REPORTS.................................................................................................................47

     

    SECTION
      7.01.  Issuing
      Entity To Furnish Indenture Trustee Names and Addresses of
      Noteholders......................47

    SECTION
      7.02.  Preservation
      of Information; Communications to
      Noteholders.............................................................47

    SECTION
      7.03.  Reports
      by Issuing
      Entity............................................................................................................................48

    SECTION
      7.04.  Reports
      by Indenture
      Trustee.....................................................................................................................48

     

    ARTICLE
      VIII     ACCOUNTS,
      DISBURSEMENTS AND
      RELEASES..............................................................................................49

     

    SECTION
      8.01.  Collection
      of
      Money.....................................................................................................................................49

    SECTION
      8.02.  Trust
      Accounts.............................................................................................................................................49

    SECTION
      8.03.  General
      Provisions Regarding
      Accounts..................................................................................................49

    SECTION
      8.04.  Release
      of Trust
      Estate................................................................................................................................50

    SECTION
      8.05.  Opinion
      of
      Counsel.......................................................................................................................................50

     

    ARTICLE
      IX     SUPPLEMENTAL
      INDENTURES................................................................................................................................51

     

    SECTION
      9.01.  Supplemental
      Indentures Without Consent of
      Noteholders...................................................................51

    SECTION
      9.02.  Supplemental
      Indentures with Consent of
      Noteholders..........................................................................52

    SECTION
      9.03.  Execution
      of Supplemental
      Indentures.......................................................................................................53

    SECTION
      9.04...Effect
      of
      Supplemental
      Indenture................................................................................................................54

    SECTION
      9.05.  Conformity
      With Trust Indenture
      Act........................................................................................................54

    SECTION
      9.06.  Reference
      in Notes to Supplemental
      Indentures.......................................................................................54

     

    ARTICLE
      X     PREPAYMENT
      IN FULL OF
      NOTES............................................................................................................................54

     

    SECTION
      10.01.  Prepayment....................................................................................................................................................54

    SECTION
      10.02.  Form
      of
      Prepayment
      Notice.........................................................................................................................54

    SECTION
      10.03.  Notes
      Payable on Prepayment
      Date...........................................................................................................55

     

    ARTICLE
      XI     MISCELLANEOUS..........................................................................................................................................................55

     

    SECTION
      11.01.  Compliance
      Certificates and Opinions
      etc.................................................................................................55

    SECTION
      11.02.  Form
      of
      Documents Delivered to Indenture
      Trustee...............................................................................57

    SECTION
      11.03.  Acts
      of
      Noteholders......................................................................................................................................58

    SECTION
      11.04.  Notices,
      etc. to Indenture Trustee, Issuing Entity and Rating
      Agencies.............................................58

    SECTION
      11.05.  Notices
      to Noteholders;
      Waiver..................................................................................................................59

    SECTION
      11.06.  Alternate
      Payment and Notice
      Provisions.................................................................................................59

    SECTION
      11.07.  Conflict
      with Trust Indenture
      Act...............................................................................................................59

    SECTION
      11.08.  Effect
      of
      Headings and Table of
      Contents.................................................................................................60

    SECTION
      11.09.  Successors
      and
      Assigns...............................................................................................................................60

    SECTION
      11.10.  Severability......................................................................................................................................................60

    SECTION
      11.11.  Benefits
      of
      Indenture.....................................................................................................................................60

    SECTION
      11.12.  Legal
      Holidays................................................................................................................................................60

    SECTION
      11.13.  GOVERNING
      LAW........................................................................................................................................60

    SECTION
      11.14.  Counterparts...................................................................................................................................................60

    SECTION
      11.15.  Recording
      of
      Indenture.................................................................................................................................60

    SECTION
      11.16.  Trust
      Obligation.............................................................................................................................................61

    SECTION
      11.17.  No
      Petition......................................................................................................................................................61

    SECTION
      11.18.  Inspection.......................................................................................................................................................61

     

    
      
        
        

      

      
        -iii-

        
          

        

      

      
        
        

      

    

    ARTICLE
      XII     REGULATION
      AB
      COMPLIANCE..............................................................................................................................62

     

    SECTION
      12.01.  Intent
      of
      the Parties;
      Reasonableness........................................................................................................62

    SECTION
      12.02.  Additional
      Representations and Warranties of the Indenture
      Trustee.................................................62

    SECTION
      12.03.  Information
      to Be Provided by the Indenture
      Trustee.............................................................................63

    SECTION
      12.04.  Report
      on
      Assessment of Compliance and
      Attestation...........................................................................63

    SECTION
      12.05.  Indemnification;
      Remedies............................................................................................................................64

     

    

    EXHIBIT
      A
      - Schedule of
      Receivables....................................................................................................................................................A-1

     

    EXHIBIT
      B
      - Form of Class A
      Note..........................................................................................................................................................B-1

     

    EXHIBIT
      C
      - Form of Class B
      Note...........................................................................................................................................................C-1

     

    EXHIBIT
      D
      - Servicing
      Criteria..................................................................................................................................................................D-1

     

    

     

    

    

    
      
        
          
             

          

          
          

        

        
          -iv-

          
            

          

        

        
          
          

          
             

             

             

          

        

      

    

    

    This
      INDENTURE, dated as of June 1, 2006, is hereby executed by and between
      CATERPILLAR FINANCIAL ASSET TRUST 2006-A, a Delaware statutory trust (the
      "Issuing Entity" or the "Trust"), and U.S. BANK NATIONAL ASSOCIATION, 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 benefit
      of the Holders of the Issuing Entity's Class A-1 5.45498% Asset Backed Notes,
      Class A-2 5.59% Asset Backed Notes, Class A-3 5.57% Asset Backed Notes, Class
      A-4 5.62% Asset Backed Notes (collectively, the "Class A Notes") and the Class
      B
      5.71% Asset Backed Notes (the "Class B Notes", and together with the Class
      A
      Notes, the "Notes") as provided in this Indenture:

     

    GRANTING
      CLAUSE

     

    The
      Issuing Entity hereby Grants to the Indenture Trustee at the Closing Date all
      of
      the Issuing Entity's right, title and interest, whether now owned or hereafter
      acquired, in, to and under (a) the Receivables, and all monies (including
      accrued interest) due thereon on or after the Cut-off Date; (b) the security
      interests in the Transaction Equipment granted by Obligors pursuant to the
      Receivables and any other interest of the Issuing Entity in the Transaction
      Equipment, including any Liquidation Proceeds; (c) any proceeds with respect
      to
      the Receivables from claims on any physical damage, credit life, liability
      or
      disability insurance policies covering Financed Equipment or Obligors, as the
      case may be; (d) the Purchase Agreement, including the right assigned to the
      Issuing Entity to cause CFSC to repurchase Receivables from the Depositor as
      provided therein; (e) the Trust Account Property; (f) the Sale and
      Servicing Agreement, including all rights of the Depositor under the Purchase
      Agreement assigned to the Issuing Entity pursuant to the Sale and Servicing
      Agreement; (g) any proceeds from recourse to, or other payments by, Dealers
      on Receivables; (h) any proceeds of repossessed or returned Transaction
      Equipment; (i) all accounts, chattel paper, deposit accounts, documents,
      general intangibles, goods, instruments, investment property, letter-of-credit
      rights, letters of credit, money, and oil, gas, and other minerals, consisting
      of, arising from, or relating to, any of the foregoing; (j) 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, products, rents, receipts or profits of the conversion, voluntary
      or
      involuntary, into cash or other property, all cash and non-cash proceeds,
      accounts, accounts receivable, notes, drafts, general intangibles, documents,
      money, certificates of deposit, letters of credit, advices of credit, goods,
      investment property, 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
      consisting of, arising from or relating to all or any part of any of the
      foregoing or any proceeds thereof; and (k) all proceeds of the foregoing
      (collectively, the "Collateral").

     

    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, ratably
      without prejudice, priority or distinction, and to secure compliance with the
      provisions of this Indenture, all as provided in this Indenture.

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

    The
      Indenture Trustee acknowledges such Grant, accepts the trusts under this
      Indenture in accordance with the provisions of this Indenture and agrees to
      perform its duties as required in this Indenture.

     

    In
      connection with the foregoing Grant, the Issuing Entity makes the following
      representations and warranties as to the Collateral to the Indenture Trustee.
      Such representations and warranties speak of the execution and delivery of
      this
      Indenture.

     

                
      (a) Title. The Issuing Entity owns and has good and marketable title to
      the Collateral free and clear of any Lien, claim or encumbrance of any
      Person.

     

                 
      (b) Priority.
      Other
      than the security interest granted to the Indenture Trustee pursuant to this
      Indenture, the Issuing Entity has not pledged, assigned, sold, granted a
      security interest in, or otherwise conveyed any of the 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 collateral
      covering the Collateral other than any financing statement relating to the
      security interest granted to the Indenture Trustee hereunder or that has been
      terminated. The Issuing Entity is not aware of any judgment or tax lien filings
      against the Issuing Entity. None of the Contracts that constitute or evidence
      the Receivables has any marks or notations indicating that it has been pledged,
      assigned or otherwise conveyed to any Person other than the Issuing Entity
      or
      the Indenture Trustee.

     

                 
      (c) Security Interest.
      This
      Indenture creates a valid and continuing security interest (as defined in the
      UCC) in the Collateral in favor of the Indenture Trustee, which security
      interest is prior to all other liens, and is enforceable as such against
      creditors of and purchasers from the Issuing Entity.

     

                
      (d) Characterization of Collateral.
      The
      Collateral constitutes either "tangible chattel paper," "accounts" or "general
      intangibles" within the meaning of the UCC.

     

                 (e)
      All Actions Taken.
      All
      original executed copies of each Contract that constitute or evidence the
      Receivables have been delivered to the Custodian. The Issuing Entity has
      received a written acknowledgment from the Custodian that the Custodian is
      holding the Contracts that constitute or evidence the Receivables solely on
      behalf and for the benefit of the Indenture Trustee. The Issuing Entity has
      caused or will have caused, within ten days of the Closing Date, the filing
      of
      all appropriate financing statements in the proper filing office in the
      appropriate jurisdiction under applicable law in order to perfect the security
      interest in the Collateral granted to the Indenture Trustee
      hereunder.

     

                
      (f) Perfection of Security Interest in Financed Equipment.
      The
      Issuing Entity has taken all steps necessary to perfect its security interest
      against the Obligors in the property securing the Contracts.

     

                 So
      long as any Notes are Outstanding (i) the Indenture Trustee shall not waive
      or
      impair, or fail to assert rights under, the foregoing representations or in
      any
      Basic Document, if any such action would materially and adversely affect the
      interests of the Noteholders and (ii) the foregoing representations shall
      survive the termination of this Indenture.

     

    

     

    

    
      
        
          
             

          

          
          

        

        
          2

          
            

          

        

        
          
          

          
            

          

        

      

    

    

     

    ARTICLE
      I

     

    DEFINITIONS
      AND INCORPORATION BY REFERENCE

     

    SECTION
      1.01.       Definitions.
      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, 2006, among the Administrator,
      the Issuing Entity and the Indenture Trustee, as the same may be amended,
      modified or supplemented from time to time.

     

    "Administrator"
      means
      CFSC or any successor 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 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 such
      officer of the Administrator must be any of the Chief Executive Officer, Chief
      Financial Officer or Chief Accounting Officer.

     

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

     

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

     

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

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    "Book-Entry
      Notes"
      means
      the Book-Entry Class A Notes and the Book-Entry Class B Notes.

     

    "Business
      Day"
      has the
      meaning specified in the Sale and Servicing Agreement.

     

    "Certificate"
      has the
      meaning specified in the Trust Agreement.

     

    "Certificate
      of Trust"
      means
      the certificate of trust of the Issuing Entity substantially in the form of
      Exhibit
      B
      to the
      Trust Agreement.

     

    "CFSC"
      means
      Caterpillar Financial Services Corporation, a Delaware corporation, and its
      successors and assigns.

     

    "Class
      A Noteholders"
      means
      the Holders of the Class A-1 Notes, the Class A-2 Notes, the Class A-3
      Notes and the Class A-4 Notes.

     

    "Class
      A Note Owner"
      means,
      with respect to a Book-Entry Class A Note, the Person who is the owner of such
      Book-Entry Class A 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).

     

    "Class
      A Notes"
      means,
      collectively, the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes
      and the Class A-4 Notes.

     

    "Class
      A-1 Note"
      means
      any Note, substantially in the form of Exhibit
      B,
      designated therein as a Class A-1 5.45498% Asset Backed Note.

     

    "Class
      A-2 Note"
      means
      any Note, substantially in the form of Exhibit
      B,
      designated therein as a Class A-2 5.59% Asset Backed Note.

     

    "Class
      A-3 Note"
      means
      any Note, substantially in the form of Exhibit
      B,
      designated therein as a Class A-3 5.57% Asset Backed Note.

     

    "Class
      A-4 Note"
      means
      any Note, substantially in the form of Exhibit
      B,
      designated therein as a Class A-4 5.62% Asset Backed Note.

     

    "Class
      A-1 Note Interest Rate"
      means,
      for any Distribution Date, 5.45498% per annum.

     

    "Class
      A-2 Note Interest Rate"
      means,
      for any Distribution Date, 5.59% per annum.

     

    "Class
      A-3 Note Interest Rate"
      means,
      for any Distribution Date, 5.57% per annum.

     

    "Class
      A-4 Note Interest Rate"
      means,
      for any Distribution Date, 5.62% per annum.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    "Class
      B Noteholders"
      means
      the Holders of the Class B Notes.

     

    "Class
      B Note Owner"
      means,
      with respect to a Book-Entry Class B Note, the Person who is the owner of such
      Book-Entry Class B 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).

     

    "Class
      B Notes"
      means
      any Note, substantially in the form of Exhibit
      C,
      designated therein as a Class B 5.71% Asset Backed Note.

     

    "Class
      B Note Interest Rate"
      means,
      for any Distribution Date, 5.71% 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 28, 2006.

     

    "Code"
      means
      the Internal Revenue Code of 1986, as amended, and Treasury Regulations
      promulgated thereunder.

     

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

     

    "Commission"
      means
      the United States Securities and Exchange Commission.

     

    "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 Indenture is located at 209 South LaSalle Street, Suite 300,
      Chicago, Illinois, 60604, Attention: Caterpillar Financial Asset Trust 2006-A,
      except that for purposes of Section
      3.02,
      such
      term shall mean the office or agency of the Indenture Trustee in the Borough
      of
      Manhattan in the City of New York, which office at the date hereof is located
      at
      100 Wall Street, Suite 1600, New York, New York 10005, or at such other address
      as the Indenture Trustee may designate from time to time by notice to the
      Noteholders, the Administrator, the Servicer and the Depositor, or the principal
      corporate trust office of any successor Indenture Trustee (the address of which
      the successor Indenture Trustee will notify the Noteholders, the Administrator,
      the Servicer and the Depositor); provided, that for the purposes of Section
      3.02,
      the
      address of any such office shall be in the Borough of Manhattan in the City
      of
      New York.

     

    "Custodial
      Agreement"
      means
      the Custodial Agreement, dated as of June 1, 2006, among CFSC, the Depositor,
      the Trust and the Indenture Trustee, as the same may be amended, modified or
      supplemented from time to time.

     

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

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    "Definitive
      Notes"
      has the
      meaning specified in Section
      2.10.

     

    "Depository
      Agreement"
      means
      the letter of representations, dated June 27, 2006, among the Issuing Entity,
      the Indenture Trustee, the Administrator, and The Depository Trust Company,
      as
      the initial Clearing Agency.

     

    "Depositor"
      means
      Caterpillar Financial Funding Corporation, a Nevada corporation, and its
      successors in such capacity.

     

    "Distribution
      Date"
      means
      the 25th day of each calendar month or, if such day is not a Business Day,
      the
      immediately following Business Day, commencing on July 25, 2006.

     

    "ERISA"
      means
      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 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 with respect
      to any 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 any item of Collateral 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 such item of
      Collateral and all other monies 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 Note is registered on the Note Register.

     

    "Indenture"
      means
      this Indenture, as the same may be amended, modified 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.

     

    "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
      Depositor or 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 Depositor or any Affiliate of any
      of
      the foregoing Persons and (c) is not connected with the Issuing Entity, any
      such
      other obligor, the Depositor or any Affiliate of any of the foregoing Persons
      as
      an officer, employee, promoter, underwriter, trustee, partner, director or
      Person performing similar functions.

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    "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 or other expert appointed by an Issuing Entity Order
      and who shall be satisfactory 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 Order"
      and
      "Issuing
      Entity Request"
      means a
      written order or request signed in the name of the Issuing Entity by an
      Authorized Officer of the Issuing Entity or in the name of the Administrator
      by
      an Authorized Officer of the Administrator and delivered to the Indenture
      Trustee.

     

    "Monetary
      Event of Default"
      means
      any Event of Default that occurs pursuant to Section 5.01(i)
      or
5.01(ii).

     

    "Non-Monetary
      Event of Default"
      means
      any Event of Default which is not a Monetary Event of Default.

     

    "Note
      Interest Rate"
      means
      the Class A-1 Note Interest Rate, the Class A-2 Note Interest Rate, the Class
      A-3 Note Interest Rate, the Class A-4 Note Interest Rate or the Class B Note
      Interest Rate, as applicable.

     

    "Note
      Owner"
      means a
      Class A Note Owner and a Class B Note Owner, as applicable.

     

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

     

    "Notes"
      means,
      collectively, the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes,
      the
      Class A-4 Notes and the Class B Notes.

     

    "Officer's
      Certificate"
      means a
      certificate signed by any Authorized Officer of the Issuing Entity or the
      Administrator, 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 or the
      Administrator.

     

    "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 CFSC and who shall
      be
      satisfactory to the Indenture Trustee, and which opinion or opinions shall
      be
      addressed to the Indenture Trustee, shall comply with any applicable
      requirements of Section
      11.01,
      and
      shall be in form and substance satisfactory to the Indenture
      Trustee.

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    "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 prepaid, notice of such prepayment has been duly given
      pursuant to this Indenture or provision therefor, satisfactory to the Indenture
      Trustee, has been made); and

     

    (iii) Notes
      in
      exchange for or in lieu of which other Notes 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 protected
      purchaser;

     

    provided,
      however,
      that in
      determining whether the Holders of the requisite Outstanding Principal 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 Depositor 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 the Indenture Trustee knows to be
      so
      owned shall be so disregarded; provided,
      further,
      that
      (i) at any time following an Event of Default, in determining whether the
      Holders of the requisite Outstanding Principal Amount of the Notes have given
      any request, demand, authorization, direction, notice, consent or waiver
      hereunder or under any Basic Document, and (ii) at any time following a Servicer
      Default, in determining whether the Holders of the requisite Outstanding
      Principal Amount may terminate all the rights and obligations of the Servicer
      or
      waive any Servicer Default to the extent set forth in Section
      8.04
      of the
      Sale and Servicing Agreement, the Class B Notes shall be disregarded and deemed
      not to be Outstanding unless no Class A Notes are Outstanding. Notes owned
      by
      the Issuing Entity, any other obligor upon the Notes, the Depositor or any
      Affiliate of any of the foregoing Persons 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 any such Person.

     

    "Outstanding
      Principal 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
      Chase Bank USA, National Association, a national banking association, 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 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.

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    "Person"
      means
      any individual, corporation, estate, partnership, limited liability company,
      joint venture, association, joint stock company, trust, unincorporated
      organization or government or any agency or political subdivision
      thereof.

     

    "Plan"
      means
      any employee benefit plan or other retirement plan, account or arrangement,
      including an individual retirement account or annuity or collective investment
      fund or insurance company general or separate account in which assets of such
      plans, accounts or arrangements are invested, whether or not subject to the
      fiduciary responsibility or prohibited transaction provisions of ERISA, Section
      4975 of the Code or Similar Law.

     

    "Plan
      Assets"
      mean
      assets that are treated as "plan assets" of any Plan for purposes of applying
      Title I of ERISA, Section 4975 of the Code or Similar Law or
      otherwise.

     

    "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.

     

    "Prepayment
      Date"
      means
      the Distribution Date specified by the Servicer or the Issuing Entity pursuant
      to Section
      10.01.

     

    "Prepayment
      Price"
      means
      in the case of a prepayment of the Class A-4 Notes and the Class B Notes
      pursuant to Section
      10.01,
      (i)
      with respect to the Class A-4 Notes, an amount equal to the unpaid amount of
      the
      Class A-4 Notes plus accrued and unpaid interest thereon at the Class A-4 Note
      Interest Rate to but excluding the Prepayment Date, plus, to the extent
      permitted by law, interest on any past due interest at the Class A-4 Note
      Interest Rate and (ii) with respect to the Class B Notes, an amount equal to
      the
      unpaid principal amount of the Class B Notes plus accrued and unpaid interest
      thereon at the Class B Note Interest Rate, to but excluding the Prepayment
      Date
      plus, to the extent permitted by law, interest on any past due interest at
      the
      Class B Note Interest Rate.

     

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

     

    "Rating
      Agency"
      has the
      meaning specified in the Sale and Servicing Agreement.

     

    "Rating
      Agency Condition"
      has the
      meaning specified in the Sale and Servicing Agreement.

     

    "Record
      Date"
      means,
      with respect to a Distribution Date or Prepayment Date, (i) if the Notes are
      held in book-entry form, the close of business on the calendar day immediately
      preceding such Distribution Date or Prepayment Date or (ii) if the Notes are
      held in definitive form, the last calendar day of the month preceding the month
      in which such Distribution Date or Prepayment Date occurs.

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

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

     

    "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 (January 7, 2005)) or by the staff of the
      Commission, or as may be provided by the Commission or its staff from time
      to
      time.

     

    "Responsible
      Officer"
      means,
      with respect to the Indenture Trustee, any officer within the Corporate Trust
      Office of the Indenture Trustee with direct responsibility for the
      administration of the Indenture and the Basic Documents, and also, with respect
      to a particular corporate trust 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, 2006, among the Issuing
      Entity, the Depositor and the Servicer, as the same may be amended, modified
      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).

     

    "Securities
      Act"
      means
      the Securities Act of 1933, as amended.

     

    "Servicer"
      means
      CFSC, as the servicer of the Receivables pursuant to the Sale and Servicing
      Agreement, and its successors in such capacity.

     

    "Servicing
      Criteria"
      means
      the "servicing criteria" set forth in Item 1122(d) of Regulation AB, as such
      may
      be amended from time to time.

     

    "Similar
      Law"
      means
      any federal, state, local, non-U.S. or other laws or regulations that contain
      provisions similar to the fiduciary responsibility or prohibited transaction
      provisions contained in Title I of ERISA or Section 4975 of the
      Code.

     

    "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).

     

    "Transaction
      Party"
      means
      the Issuing Entity, the Depositor, the Servicer, the Owner Trustee, the
      Administrator, the Custodian and any other material transaction party in
      connection with the Notes, as identified by the Servicer to the Indenture
      Trustee in writing (i) as of the Closing Date and (ii) as such parties may
      change from time to time.

     

    "Trust
      Agreement"
      means
      the Amended and Restated Trust Agreement, dated as of June 28, 2006,
      between the Depositor and the Owner Trustee, as the same may be amended,
      modified or supplemented from time to time.

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

    "Trust
      Estate"
      means
      the Collateral.

     

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

     

    "Trustee
      Information"
      has the
      meaning specified in Section 12.05(a)(i)(A).

     

    "UCC"
      means,
      unless the context otherwise requires, the Uniform Commercial Code, as in effect
      in the relevant jurisdiction, as amended.

     

    "U.S.
      Person"
      has the
      meaning specified in Section
      2.13(b).

     

    (b) Other
      Definitional Provisions.
      

     

    (1) Capitalized
      terms used herein and not otherwise defined have the meanings assigned to them
      in the Sale and Servicing Agreement or, if not defined therein, in the Trust
      Agreement.

     

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

     

    (3) As
      used
      in this Indenture and in any certificate or other document made or delivered
      pursuant hereto, accounting terms not defined in this Indenture or in any such
      certificate or other document, and accounting terms partly defined in this
      Indenture 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. To the extent that the definitions of accounting
      terms in this Indenture or in any such certificate or other document are
      inconsistent with the meanings of such terms under generally accepted accounting
      principles, the definitions contained in this Indenture or in any such
      certificate or other document shall control.

     

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

     

    (5) Terms
      used herein that are defined in the New York UCC and not otherwise defined
      herein shall have the meanings set forth in the New York UCC, unless the context
      requires otherwise.

     

    (6) The
      definitions contained in this Indenture 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.

     

    
      
        
        

      

      
        11

        
          

        

      

       

                     
        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 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.    Calculations of Interest.
      All
      calculations of interest made hereunder shall be made, with respect to the
      Class A-1 Notes, on the basis of a year of 360 days and the actual number
      of days elapsed, and with respect to the Class A-2 Notes, the Class A-3 Notes,
      the Class A-4 Notes and the Class B Notes, on the basis of a year of 360
      days of twelve 30-day months.

     

     

    ARTICLE
      II

     

     

    THE
      NOTES

     

                  
      SECTION
      2.01.        Form.
      The
      Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes 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 Exhibit
      B,
      and the
      Class B Notes, together with the Indenture Trustee's certificate of
      authentication, shall be in substantially the form set forth in Exhibit
      C,
      in each
      case 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.

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

    Each
      Note
      shall be dated the date of its authentication. The terms of the Class A Notes
      set forth in Exhibit
      B
      and the
      terms of the Class B Notes set forth in Exhibit
      C
      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 the Owner
      Trustee. The signature of the Owner Trustee 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 Owner Trustee 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.

     

    On
      the
      Closing Date, the Indenture Trustee shall authenticate and deliver Class A-1
      Notes for original issue in an aggregate principal amount of $246,100,000,
      Class
      A-2 Notes for an original issue in an aggregate principal amount of
      $250,000,000, Class A-3 Notes for an original issue in an aggregate principal
      amount of $302,000,000, Class A-4 Notes for an original issue in an aggregate
      principal amount of $136,460,000 and Class B Notes for an original issue in
      an
      aggregate principal amount of $26,560,000. The aggregate principal amount of
      Class A-1 Notes, Class A-2 Notes, Class A-3 Notes, the Class A-4 Notes and
      Class B 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.

     

                  
      SECTION 2.03.        Temporary
      Notes.
      Pending
      the preparation of Definitive Notes, the Owner Trustee on behalf of 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, 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 Owner Trustee on behalf of 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.

     

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

       

       

                     
        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 the initial "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
      applicable requirements of Article 8 of the UCC are met the Owner Trustee
      on behalf of 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 applicable requirements of Article
      8 of the UCC are met, the Owner Trustee on behalf of the Issuing Entity shall
      execute, and the Indenture Trustee shall authenticate and the Noteholder shall
      obtain from the Indenture Trustee, the Notes which the Noteholder making the
      exchange is entitled to receive.

     

    Subject
      to Section
      2.13(b),
      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
      form
      satisfactory to the Indenture Trustee duly executed by, the Holder thereof
      or
      such Holder's attorney duly authorized in writing, with such signature
      guaranteed by a commercial bank or trust company located, or having a
      correspondent located, in the City of New York or the city in which the
      Corporate Trust Office is located, by a member firm of a national securities
      exchange or by another institution required to be accepted as a signature
      guarantor by Rule 17Ad-15 of the Exchange Act, and such other documents as
      the
      Indenture Trustee may require.

     

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

    

    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.

     

    The
      preceding provisions of this section notwithstanding, the Issuing Entity shall
      not be required to make, and the Note Registrar need not register, transfers
      or
      exchanges of Notes to be prepaid on the next Distribution Date or of any Note
      for a period of 15 days preceding the due date for any payment with respect
      to
      the Note.

     

                   
      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 applicable requirements
      of Article 8 of the UCC are met, the Owner Trustee on behalf of 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 be prepaid on
      the
      next Distribution Date, 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 Prepayment 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
      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.

     

    Except
      as
      set forth in the first paragraph of this Section
      2.05,
      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.

     

    
      
        
        

      

      
        15

        
          

        

      

      
        
        

      

    

    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 may 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 Class A Notes shall accrue interest as provided in the form of the
      Class A Note set forth in Exhibit
      B
      and the
      Class B Notes shall accrue interest as provided in the form of the Class B
      Note
      set forth in Exhibit
      C,
      and in
      each case such interest shall be payable on each Distribution Date as specified
      therein, subject to Section
      3.01.
      Subject
      to Section
      2.13(b),
      any
      installment of interest or principal, if any, or any other amount, payable
      on
      any Note which is punctually paid or duly provided for by the Issuing Entity
      on
      the applicable Distribution 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, (i) 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 (ii) except for (A) the final installment of principal
      payable with respect to such Note on a Distribution Date and (B) the Prepayment
      Price for any Note being prepaid pursuant to Section
      10.01(a),
      in each
      case 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.

     

    (b) The
      principal of each Class A Note shall be payable in installments on each
      Distribution Date as provided in the form of Class A Note set forth in
Exhibit
      B.
      The
      principal of the Class B Notes shall be payable in installments on each
      Distribution Date as provided in the form of Class B Note set forth in
Exhibit
      C.
      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 a majority of the Outstanding Principal
      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 Distribution 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
      Distribution 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 prepayments of Notes shall be mailed
      to
      Noteholders as provided in Section
      10.02.

     

    
      
        
        

      

      
        16

        
          

        

      

      
        
        

      

    

    (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
      to
      the extent lawful) at the applicable Note Interest Rate in any lawful manner.
      The Issuing Entity may pay such defaulted interest to the Persons who are
      Noteholders on a subsequent special record date, which date shall be fixed
      or
      caused to be fixed by the Issuing Entity and shall be at least five Business
      Days prior to the payment date. The Issuing Entity shall fix or cause to be
      fixed any such payment date, and, at least 15 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 to be paid.

     

                       
      SECTION 2.08.     Cancellation.
      All
      Notes surrendered for payment, registration of transfer, exchange or prepayment
      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 destroyed or returned to it; provided that such Issuing
      Entity Order is timely and the Notes have not been previously disposed of by
      the
      Indenture Trustee.

     

                       
      SECTION 2.09.     Release of Collateral.
      Subject
      to Section
      3.03
      and
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)(1) or an Opinion of Counsel in lieu of 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 Notes 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 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;

     

    
      
        
        

      

      
        17

        
          

        

      

      
        
        

      

    

    (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 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 Principal Amount of the Notes, 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 or Clearing Agency Participants
      owning or representing, respectively, such required percentage of the beneficial
      interest in the Notes 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.

     

                         
      SECTION 2.12.   Definitive Notes.
      If (i)
      the Issuing Entity 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, (ii) the Issuing Entity, to the extent permitted
      by law, advises the Indenture Trustee in writing that it elects to terminate
      the
      book-entry system through the Clearing Agency with respect to the Book-Entry
      Notes or (iii) after the occurrence of an Event of Default or a Servicer
      Default, Note Owners representing beneficial interests aggregating a majority
      of
      the Outstanding Principal 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. Subject
      to Section
      2.13(b),
      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.

     

    
      
        
        

      

      
        18

        
          

        

      

      
        
        

      

       

                            
        SECTION 2.13.  Representations and Covenants by Noteholders and Note
        Owners.
        

    

     

      Each
      Noteholder and Note Owner, by acceptance of a Note, or in the case of a Note
      Owner, a beneficial interest in a Note, will be deemed to have represented
      and
      warranted for the benefit of the Depositor, the Servicer, the Indenture Trustee,
      the Owner Trustee and the Issuing Entity that either (i) no
      portion of the assets used by such Noteholder or Note Owner to Acquire or hold
      the Note or beneficial interest therein constitutes
      Plan
      Assets of any Plan or (ii) the
      purchase and holding of the Note by such Noteholder or Note Owner will not
      constitute a non-exempt prohibited transaction under ERISA or Section 4975
      of the Code or a violation under any applicable
      Similar Law.

     

    (b) Each
      Class B Noteholder and Class B Note Owner, by acceptance of a Class B Note,
      or
      in the case of a Note Owner, a beneficial interest in a Class B Note, will
      be
      deemed to have represented and warranted for the benefit of the Depositor,
      the
      Issuing Entity and the Indenture Trustee that it is (i) a citizen or resident
      of
      the United States, (ii) a corporation or partnership organized in or under
      the
      laws of the United States, any state thereof, or any political subdivision
      of
      either (including the District of Columbia) or (iii) an estate or trust, the
      income of which is includible in gross income for United States tax purposes,
      regardless of its source (any such Person described in clauses (i), (ii) or
      (iii), a "U.S. Person"). The Class B Notes may not be registered in the name
      of,
      or transferred to, Persons who are not U.S. Persons and any purported transfer
      of an interest in a Class B Notes to a Person that is not a U.S. Person shall
      be
      void, subject in the case of Class B Notes held in book-entry form to the rules,
      regulations and procedures of the Clearing Agency. If requested by the
      Depositor, the Issuing Entity or the Administrator, each Class B Noteholder
      or
      Class B Note Owner agrees to deliver to the Depositor an affidavit and related
      tax forms certifying generally to the effect that, under penalty of perjury,
      such investor is a U.S. Person.

     

                    
      SECTION 2.14.    Tax Treatment.
      The
      Issuing Entity has entered into this Indenture, and the Notes will be issued,
      with the intention that, for all purposes including federal, State and local
      income, single business and franchise tax purposes, the Notes will qualify
      as
      indebtedness of the Issuing Entity secured by the Trust Estate. The Issuing
      Entity, by entering into this Indenture, and each Noteholder, by its acceptance
      of a Note (and each Note Owner by its acceptance of an interest in the
      applicable Book-Entry Note), agree to treat, and to take no action inconsistent
      with the treatment of, the Notes as indebtedness of the Issuing Entity for
      all
      purposes, including federal, State and local income, single business and
      franchise tax purposes.

     

      

     

    ARTICLE
      III

     

    COVENANTS

     

                   
      SECTION 3.01.     Payment of Principal and
      Interest.
      The
      Issuing Entity will duly and punctually pay the principal of and interest,
      if
      any, 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
      the amounts on deposit in the Collection Account and the Reserve Account in
      accordance with Article 5 of the Sale and Servicing Agreement, subject to
Section
      5.04(b)
      or
5.04(c).
      Amounts
      properly withheld under the Code by any Person from a payment to any Noteholder
      of interest or principal or premium shall be considered as having been paid
      by
      the Issuing Entity to such Noteholder for all purposes of this
      Indenture.

     

    
      
        
        

      

      
        19

        
          

        

      

      
        
        

      

       

                     
        SECTION 3.02.         Maintenance of
        Office or Agency.
        The
        Issuing Entity will maintain in the Borough of Manhattan, in 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 the Corporate Trust Office 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.

    

     

                   SECTION
      3.03.         Money for Payments To
      Be Held in Trust.
      As
      provided in Section
      8.02,
      all
      payments of amounts due and payable with respect to any Notes that are to be
      made from amounts withdrawn from the Collection Account or the Reserve Account
      pursuant to Section
      8.02(b)
      shall be
      made on behalf of the Issuing Entity by the Indenture Trustee or by another
      Paying Agent, and no amounts so withdrawn from such accounts for payments of
      Class A Notes and Class B Notes, respectively, shall be paid over to the Issuing
      Entity. Unless the Paying Agent is the Indenture Trustee, the Issuing Entity
      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 (or any other
      obligor upon the Notes) of which it has actual knowledge 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 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

     

    
      
        
        

      

      
        20

        
          

        

      

      
        
        

      

    

    (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
      for
      the payment of the Notes 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
      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 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 money shall thereupon cease; provided,
      however,
      that
      the Indenture Trustee or such Paying Agent, before being required to make any
      such repayment, shall at the expense and direction 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 shall also adopt and employ,
      at the expense of the Issuing Entity, any other reasonable means of notification
      of such repayment (including mailing notice of such repayment to Holders whose
      Notes have been called but have not been surrendered for prepayment or whose
      right to or interest in monies 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 and the Collateral.

     

                  
      SECTION 3.05.       Protection of Trust
      Estate.
      The
      Issuing Entity will from time to time take all actions necessary, including
      preparing, authorizing, executing, delivering and filing all such supplements
      and amendments hereto and all such financing statements, amendments to financing
      statements, continuation statements, instruments of further assurance and other
      instruments, if applicable, and will take such other action necessary or
      advisable to:

     

    
      
        
        

      

      
        21

        
          

        

      

      
        
        

      

    

    (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

     

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

     

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

     

                   
      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
      (i) such action has been taken to perfect the lien and security interest of
      this Indenture, including with respect to the recording and filing of this
      Indenture, any indentures supplemental hereto, and any other requisite
      documents, and with respect to the filing of any financing statements and
      continuation statements, as are so necessary and reciting the details of such
      action, or (ii) no such action is necessary to maintain the perfection of
      such lien and security interest.

     

    (b) On
      or
      before April 30 in each calendar year, beginning in 2007, the Issuing Entity
      shall furnish to the Indenture Trustee an Opinion of Counsel either stating
      that, in the opinion of such counsel (i) such action has been taken to
      perfect the lien and security interest of this Indenture, including 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 filing of any financing statements and continuation statements
      as
      is so necessary and reciting the details of such action or (ii) no such
      action is necessary to maintain the perfection of 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 filing of any financing statements
      and
      continuation statements that will, in the opinion of such counsel, be required
      to maintain the perfection of the lien and security interest of this Indenture
      until April 30 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.

     

    
      
        
        

      

      
        22

        
          

        

      

      
        
        

      

    

    (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 satisfy the requirements of this Indenture. Initially, the Issuing
      Entity has contracted with 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 other Basic Documents and in the
      instruments and agreements included in the Trust Estate, including filing or
      causing to be filed all UCC financing statements and continuation statements
      required to be filed by it by the terms of this Indenture and the other Basic
      Documents in accordance with and within the time periods provided for herein
      and
      therein. Except as otherwise expressly provided 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 a majority of the Outstanding Principal 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
      the Indenture Trustee and the Rating Agencies thereof, and shall specify in
      such
      notice the action, if any, the Issuing Entity is taking in respect of 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 Indenture Trustee 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. 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. Upon delivery of any such
      notice to the Issuing Entity, the Indenture Trustee 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 and (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. If the Indenture Trustee is unable to act as Successor 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 individual capacity and not in its
      capacity as Indenture Trustee and, accordingly, the provisions of Article
      VI
      hereof
      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.

     

    
      
        
        

      

      
        23

        
          

        

      

      
        
        

      

    

    (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 Indenture Trustee
      shall notify the Issuing Entity and the Depositor 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 a majority in Outstanding Principal
      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
      permitted pursuant to the terms of the Sale and Servicing Agreement) or the
      Basic Documents, or waive timely performance or observance by the Servicer
      or
      the Depositor under the Sale and Servicing Agreement or by CFSC under the
      Purchase Agreement; provided,
      however,
      that no
      such amendment shall (i) except to the extent otherwise provided in the Sale
      and
      Servicing Agreement, 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 under 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 the Basic Documents, 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;

     

    
      
        
        

      

      
        24

        
          

        

      

      
        
        

      

    

    (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 applicable state law) 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;

     

    (iii) dissolve
      or liquidate in whole or in part; or

     

    (iv) (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 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 perfected security interest in the Trust
      Estate (other than with respect to any such tax, mechanics' or other
      lien).

     

                 
      SECTION 3.09.   Statements as to Compliance.
      (a) The
      Issuing Entity will deliver to the Indenture Trustee, within 120 days after
      the
      end of each fiscal year of the Issuing Entity (commencing within 120 days after
      the end of the fiscal year 2006), 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 December
      31,
      2006, the period from the Closing Date to December 31, 2006) 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.
      

     

      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;

     

    
      
        
        

      

      
        25

        
          

        

      

      
        
        

      

    

    (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 Issuing
      Entity, 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) Other
      than as set forth in clauses (x) and (y) of Section
      3.18
      and as
      provided in the Basic Documents, 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 and (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;

     

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

     

    
      
        
        

      

      
        26

        
          

        

      

      
        
        

      

    

    (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 Issuing
      Entity, 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 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.
      

     

      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),
      Caterpillar Financial Asset Trust 2006-A 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 the
      Indenture Trustee of the Officer's Certificate and Opinion of Counsel specified
      in Section
      3.10(b)(vi)
      stating
      that Caterpillar Financial Asset Trust 2006-A is to be so released.

     

                    
      SECTION 3.12.    No Other Business.
      The
      Issuing Entity shall not engage in any business other than the purposes and
      powers set forth in Section 2.03 of the Trust Agreement.

     

                   
      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 (i) the
      Notes and (ii) any other indebtedness permitted by or arising under the
      Basic Documents.

     

                    
      SECTION 3.14.    Servicer's Obligations.
      The
      Issuing Entity shall cause the Servicer to comply with all of its obligations
      under the Basic Documents, including without limitation those set forth in
      Sections 4.09, 4.10, 4.11, 4.12, 4.13 and 5.06 of the Sale and Servicing
      Agreement.

     

                    
      SECTION 3.15.    Guarantees, Loans, Advances and Other
      Liabilities.
      Except
      as contemplated by the Basic Documents, 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.

     

    
      
        
        

      

      
        27

        
          

        

      

      
        
        

      

    

                    
      SECTION 3.16     Capital Expenditures.
      Except
      as contemplated by the Basic Documents, the Issuing Entity shall not make any
      expenditure (by long-term or operating lease or otherwise) for capital assets
      (either realty or personalty).

     

                   
      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 Depositor, the Owner Trustee and the Certificateholder as
      permitted by, and to the extent funds are available for such purpose under,
      this
      Indenture, the Sale and Servicing Agreement and the Trust Agreement and (y)
      payments to the Indenture Trustee and the Administrator pursuant to this
      Indenture and 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 the Indenture Trustee and the Rating Agencies
      prompt written notice of each Event of Default hereunder and, immediately after
      obtaining knowledge of any of the following occurrences, written notice of
      each
      default on the part of the Servicer or the Depositor of its obligations under
      the Sale and Servicing Agreement and each default on the part of CFSC 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 3.02,
      3.03,
      3.04,
      3.05,
      3.08,
      3.10,
      3.11,
      3.12,
      3.13,
      3.17,
      3.19,
      3.20
      and
11.17,
      (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

     

    
      
        
        

      

      
        28

        
          

        

      

      
        
        

      

    

    (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:

     

    (i) have
      become due and payable;

     

    (ii) will
      become due and payable at (A) the Class A-1 Note Final Scheduled Distribution
      Date with respect to the Class A-1 Notes, (B) the Class A-2 Note Final Scheduled
      Distribution Date with respect to the Class A-2 Notes, (C) the Class A-3 Note
      Final Scheduled Distribution Date with respect to the Class A-3 Notes, (D)
      the
      Class A-4 Note Final Scheduled Distribution Date with respect to the Class
      A-4 Notes and (E) the Class B Note Final Scheduled Distribution Date with
      respect to the Class B Notes; or

     

    (iii) are
      subject to prepayment within one year under arrangements satisfactory to the
      Indenture Trustee for the giving of notice of prepayment by the Indenture
      Trustee in the name, and at the expense, of the Issuing Entity;

     

    and
      the
      Issuing Entity, in the case of (i), (ii) or (iii) 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 when due to (x) the Class A-1 Note Final Scheduled Distribution
      Date, Class A-2 Note Final Scheduled Distribution Date, Class A-3 Note Final
      Scheduled Distribution Date, Class A-4 Note Final Scheduled Distribution Date
      or
      Class B Note Final Scheduled Distribution Date, as applicable, or Prepayment
      Date (if Notes shall have been called for prepayment pursuant to Section
      10.01),
      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

     

    
      
        
        

      

      
        29

        
          

        

      

      
        
        

      

    

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

     

                
      SECTION 4.03.  Repayment of Monies Held by Paying Agent.
      In
      connection with the satisfaction and discharge of this Indenture with respect
      to
      the Notes, all monies 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 monies.

     

      

     

    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;

     

    (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; 

     

    (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, return receipt requested, 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 Principal 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; 

     

    
      
        
        

      

      
        30

        
          

        

      

      
        
        

      

    

    (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, 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 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) or clause (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 not less than a majority
      of the Outstanding Principal 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 declared 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 not less than a majority of the
      Outstanding Principal 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:

     

    
      
        
        

      

      
        31

        
          

        

      

      
        
        

      

    

    (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

     

    (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 default is made in the payment of
      (i)
      any interest on any Note when the same becomes due and payable, and such default
      continues for a period of five days or (ii) 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 the applicable Note Interest Rate borne
      by
      the Notes, and in addition thereto will pay 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 monies 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.

     

    
      
        
        

      

      
        32

        
          

        

      

      
        
        

      

    

    (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 Title 11 of the United States Code or any other
      applicable federal or state bankruptcy, insolvency or other similar law, or
      in
      case a receiver, assignee, trustee in bankruptcy, 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 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
      one or more 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,
      and
      take such actions, 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, 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; and

     

    (iii) to
      collect and receive any monies 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
      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,
      to vote for the election of a trustee in bankruptcy or similar Person as
      provided in Section 5.03(d)(ii).

     

    
      
        
        

      

      
        33

        
          

        

      

      
        
        

      

    

    (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 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 monies 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) in
      the
      event that all the Notes have been declared due and payable pursuant to
Section
      5.02,
      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 a Monetary Event of Default, unless
      (A) the Holders of 100% of the Outstanding Principal 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 at least 66-2/3% of the Outstanding
      Principal 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.

     

    
      
        
        

      

      
        34

        
          

        

      

      
        
           

        

      

    

    (b) If
      the
      Indenture Trustee collects any money or property pursuant to this Article
      V
      following any occurrence of a Monetary Event of Default and the acceleration
      of
      the maturities of the Notes pursuant to Section
      5.02
      (so long
      as such declaration shall not have been rescinded or annulled), it shall pay
      out
      the money or property (other than the Additional Servicing Compensation, which
      may be retained by the Servicer in accordance with Section
      5.08
      of the
      Sale and Servicing Agreement) in the following order:

     

    FIRST:
      to
      the Indenture Trustee for amounts due under Section
      6.07;

     

    SECOND:
      to Class A Noteholders for amounts due and unpaid on the Class A Notes for
      interest, ratably, without preference or priority of any kind, according to
      the
      amounts due and payable on the Class A Notes for interest;

     

    THIRD:
      to
      Holders of Class A Notes for amounts due and unpaid on the Class A Notes for
      principal, ratably, without preference or priority of any kind, according to
      the
      amounts due and payable on the Class A Notes for principal;

     

    FOURTH:
      to Holders of Class B Notes for amounts due and unpaid on the Class B Notes
      for
      interest, ratably, without preference or priority of any kind, according to
      the
      amounts due and payable on the Class B Notes for interest;

     

    FIFTH:
      to
      Holders of Class B Notes for amounts due and unpaid on the Class B Notes for
      principal, ratably, without preference or priority of any kind, according to
      the
      amounts due and payable on the Class B Notes for principal;

     

    SIXTH:
      To
      the Servicer and the Administrator, any amounts due and owing to the Servicer
      and the Administrator, and

     

    SEVENTH:
      to the Certificate Distribution Account.

     

    (c) If
      the
      Indenture Trustee collects any money or property pursuant to this Article
      V
      following any occurrence of a Non-Monetary Event of Default and the acceleration
      of the maturities of the Notes pursuant to Section
      5.02
      (so long
      as such declaration shall not have been rescinded or annulled), it shall pay
      out
      the money or property (other than the Additional Servicing Compensation, which
      may be retained by the Servicer in accordance with Section
      5.08
      of the
      Sale and Servicing Agreement) in the following order:

     

    FIRST:
      to
      the Indenture Trustee for amounts due under Section
      6.07;

     

    SECOND:
      to Holders of the Class A Notes for amounts due and unpaid on the Class A Notes
      for interest, ratably, without preference or priority of any kind, according
      to
      the amounts due and payable on the Class A Notes for interest;

     

    
      
        
        

      

      
        35

        
          

        

      

      
        
        

      

    

    THIRD:
      to
      Holders of the Class B Notes for amounts due and unpaid on the Class B Notes
      for
      interest, ratably, without preference of any kind, according to the amounts
      due
      and payable on the Class B Notes for interest;

     

    FOURTH:
      to Holders of Class A Notes for amounts due and unpaid on the Class A Notes
      for
      principal, ratably, without preference or priority of any kind, according to
      the
      amounts due and payable on the Class A Notes for principal;

     

    FIFTH:
      to
      Holders of Class B Notes for amounts due and unpaid on the Class B Notes for
      principal, ratably, without preference or priority of any kind, according to
      the
      amounts due and payable on the Class B Notes for principal;

     

    SIXTH:
      To
      the Servicer and the Administrator, any amounts due and owing to the Servicer
      and the Administrator, and

     

    SEVENTH:
      to the Certificate Distribution Account.

     

    (d) 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 Principal 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 reasonable indemnity
      against the costs, expenses and liabilities to be incurred in complying with
      such request;

     

    
      
        
        

      

      
        36

        
          

        

      

      
        
        

      

    

    (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 Principal 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 Principal 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.

     

                    
      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 the respective due dates
      thereof expressed in such Note or in this Indenture (or, in the case of
      prepayment, on the Prepayment 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 acquiescence therein. Every right and remedy given by 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.

     

    
      
        
        

      

      
        37

        
          

        

      

      
        
        

      

       

                       
        SECTION 5.11.      Control by
        Noteholders.
        The
        Holders of a majority (or 66 2/3% if an Event of Default has occurred and
        is continuing) of the Outstanding Principal 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
      Principal 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 Principal 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 Principal 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;
      provided that 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; provided that no such waiver shall extend to any subsequent or other
      Default or Event of Default or impair any right consequent thereto.

     

    
      
        
        

      

      
        38

        
          

        

      

      
        
        

      

       

                      
        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 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, 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;
        provided that 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 Principal 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 prepayment, on or after the Prepayment
        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
      Depositor'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 (x) the Depositor 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 (y) CFSC of its obligations 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 Depositor or the Servicer
      thereunder and the institution of legal or administrative actions or proceedings
      to compel or secure performance by the Depositor or the Servicer of each of
      their obligations under the Sale and Servicing Agreement.

     

    
      
        
        

      

      
        39

        
          

        

      

      
        
        

      

    

    (b) If
      an
      Event of Default has occurred and is continuing, the Indenture Trustee may,
      and,
      at the direction (which direction shall be in writing or by telephone (confirmed
      in writing promptly thereafter)) of the Holders of at least 66 2/3% of the
      Outstanding Principal Amount of the Notes shall, exercise all rights, remedies,
      powers, privileges and claims of the Issuing Entity against the Depositor 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 Depositor 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 Depositor'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 CFSC of each of its obligations to the Depositor 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 CFSC thereunder and the institution of
      legal or administrative actions or proceedings to compel or secure performance
      by CFSC of each of its obligations under the Purchase Agreement.

     

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

     

      

     

    

    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:

     

    
      
        
        

      

      
        40

        
          

        

      

      
        
        

      

    

    (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

     

    (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; provided,
      however,
      the
      Indenture Trustee shall examine the certificates and opinions to determine
      whether or not they conform on their face to the requirements of this
      Indenture.

     

    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 willful misconduct, except
      that:

     

    (i) this
      paragraph does not limit the effect of subsection 6.01(b);

     

    (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.

     

    (d) Every
      provision of this Indenture that in any way relates to the Indenture Trustee
      is
      subject to subsections 6.01(a), (b) and (c);

     

    (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 against such risk or liability 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.

     

    
      
        
        

      

      
        41

        
          

        

      

      
        
        
             
        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 willful misconduct,
      negligence or bad faith.

     

    (e) The
      Indenture Trustee may consult with counsel, 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.

     

                  
      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
      6.11
      and
6.12.

     

                 
      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 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 mandatory prepayment 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.

     

    
      
        
        

      

      
        42

        
          

        

      

      
        
        
               
        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, which shall include the information required to be distributed pursuant
        to the first paragraph of Section
        5.06
        of the
        Sale and Servicing Agreement. 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 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 reimburse the Indenture Trustee for all reasonable out-of-pocket
      expenses incurred or made by it, including 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 indemnify
      the
      Indenture Trustee against any and all loss, liability 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
      Administrator promptly of any claim for which it may seek indemnity. Failure
      by
      the Indenture Trustee to so notify the Issuing Entity and the Administrator
      shall not relieve the Issuing Entity of its obligations hereunder. The Issuing
      Entity shall defend the claim and the Indenture Trustee may have separate
      counsel and the Issuing Entity shall pay the fees and expenses of such counsel.
      The Issuing Entity need not reimburse any expense or indemnify against any
      loss,
      liability or expense incurred by the Indenture Trustee through the Indenture
      Trustee's own willful 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 Title 11 of the United States Code or any other
      applicable federal or state bankruptcy, insolvency or similar law.

     

    Notwithstanding
      anything herein to the contrary, the Indenture Trustee's right to enforce any
      of
      the Issuing Entity's payment obligations pursuant to this Section
      6.07
      shall be
      subject to the provisions of Section
      11.17.

     

                  
      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.
      The
      Holders of a majority in Outstanding Principal Amount of the Notes may remove
      the Indenture Trustee by so notifying the Indenture Trustee and may appoint
      a
      successor Indenture Trustee. The Issuing Entity shall remove the Indenture
      Trustee if:

     

    
      
        
        

      

      
        43

        
          

        

      

      
        
        

      

    

    (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.

     

    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
      reasonably acceptable to the Depositor.

     

    A
      successor Indenture Trustee shall deliver a written acceptance of its
      appointment to the retiring Indenture Trustee and to the Issuing Entity.
      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 not less than a majority in
      Outstanding Principal 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 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 prior written notice of any such transaction; provided
      that
      such corporation or banking association shall be otherwise qualified and
      eligible under Section
      6.11.

     

    In
      case
      at the time such successor 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.

     

    
      
        
        

      

      
        44

        
          

        

      

      
        
        

      

       

                    
        SECTION 6.10.    Appointment of Co-Trustee or Separate
        Indenture 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
        or co-trustees, or separate trustee or separate trustees, of all or any part
        of
        the Trust Estate, and to vest in such Person or Persons, in such capacity
        and
        for the benefit of the Noteholders, such title to the Trust Estate, 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
        hereof.

    

     

    (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 Estate
      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 Indenture 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.

     

    
      
        
        

      

      
        45

        
          

        

      

      
        
        

      

    

    (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 Indenture
      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.

     

                     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
      and
      "BBB-" by Standard & Poor'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.

     

    Within
      90
      days after ascertaining the occurrence of an Event of Default which shall not
      have been cured or waived, unless authorized by the Commission, the Indenture
      Trustee shall resign with respect to the Class A Notes or the Class B Notes
      in
      accordance with Section 6.08,
      and the
      Issuing Entity shall appoint a successor Indenture Trustee for one or both
      of
      such Classes, as applicable, so that there will be separate Indenture Trustees
      for the Class A Notes and the Class B Notes. In the event the Indenture Trustee
      fails to comply with the terms of the preceding sentence, the Indenture Trustee
      shall comply with clauses (ii) and (iii) of TIA § 310(b).

     

    In
      the
      case of the appointment hereunder of a successor Indenture Trustee with respect
      to any Class of Notes pursuant to this Section
      6.11,
      the
      Issuing Entity, the retiring Indenture Trustee and the successor Indenture
      Trustee with respect to such Class of Notes shall execute and deliver an
      indenture supplemental hereto wherein each successor Indenture Trustee shall
      accept such appointment and which (i) shall contain such provisions as shall
      be
      necessary or desirable to transfer and confirm to, and to vest in, the successor
      Indenture Trustee all the rights, powers, trusts and duties of the retiring
      Indenture Trustee with respect to the Notes of the Class to which the
      appointment of such successor Indenture Trustee relates, (ii) if the retiring
      Indenture Trustee is not retiring with respect to all Classes of Notes, shall
      contain such provisions as shall be deemed necessary or desirable to confirm
      that all the rights, powers, trusts and duties of the retiring Indenture Trustee
      with respect to the Notes of each Class as to which the retiring Indenture
      Trustee is not retiring shall continue to be vested in the Indenture Trustee,
      and (iii) shall add to or change any of the provisions of this Indenture as
      shall be necessary to provide for or facilitate the administration of the trusts
      hereunder by more than one Indenture Trustee, it being understood that nothing
      herein or in such supplemental indenture shall constitute such Indenture
      Trustees co-trustees of the same trust and that each such Indenture Trustee
      shall be trustee of a trust or trusts hereunder separate and apart from any
      trust or trusts hereunder administered by any other such Indenture Trustee;
      and
      upon the execution and delivery of such supplemental indenture the resignation
      or removal of the retiring Indenture Trustee shall become effective to the
      extent provided therein.

     

    
      
        
        

      

      
        46

        
          

        

      

      
        
        

      

       

                         
        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 provided
        therein.

    

     

                       
      SECTION 6.13.    Appointment of Custodians.
      The
      Indenture Trustee may, with the consent of the Servicer and notice to the Rating
      Agencies, appoint U.S. Bank National Association as Custodian to hold the
      Receivables Files in accordance with the Custodial Agreement. Subject to this
      Article
      VI,
      the
      Indenture Trustee agrees to comply with the terms of the Custodial Agreement
      and
      to enforce the terms and provisions thereof against the Custodian for the
      benefit of the Noteholders.

     

                        SECTION
      6.14.  Representations and Warranties of the Indenture
      Trustee.
      The
      Indenture Trustee hereby makes the following representations and warranties
      on
      which the Issuing Entity and the Noteholders shall rely:

     

                      
      (a) it is a national banking association duly organized, validly existing and
      in
      good standing under the laws of the United States of America;

     

                      
      (b) it has full power, authority and legal right to execute, deliver, and
      perform its obligations under this Indenture and has taken all necessary action
      to authorize the execution, delivery and performance by it of this Indenture;
      and

     

                       
      (c) this Indenture is an enforceable obligation of the Indenture
      Trustee.

     

      

     

    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, and (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.

     

    
      
        
        

      

      
        47

        
          

        

      

      
        
        

      

    

    (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 periodic reports and of the
      information, documents and other reports (or copies of such portions of any
      of
      the 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 including, without
      limitation, reports on Form 10-K, Form 10-D and Form 8-K;

     

    (ii) file
      or
      cause the Servicer to 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 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.

     

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

     

                    SECTION
      7.04.     Reports by Indenture Trustee.
      If
      required by TIA § 313(a), within 60 days after each March 31 beginning with
      March 31, 2007 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.

     

      

    
      
        
        

      

      
        48

        
          

        

      

      
        
        

      

    

     

    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 and the Sale and Servicing Agreement. 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.

     

                     
      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 Issuing Entity and subject to
      the
      security interest of the Indenture Trustee the Trust Accounts as provided in
      Section
      5.01
      of the
      Sale and Servicing Agreement.

     

    (b) On
      or
      before the second Business Day preceding each Distribution 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 each Distribution Date and Prepayment Date,
      the
      Indenture Trustee shall distribute all amounts on deposit in the Collection
      Account and the Reserve Account in accordance with the instructions received
      from the Servicer pursuant to Section
      4.09
      of the
      Sale and Servicing Agreement (except as otherwise provided in Section
      5.04(b)
      or
(c)
      of this
      Indenture).

     

                   
      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 (except with respect to the Certificate
      Distribution Account) reinvested by the Indenture Trustee at the written
      direction of the Servicer, 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 shall be deposited by the Indenture
      Trustee in the Collection Account, and any loss resulting from such investments
      shall be charged to such account. The Issuing Entity will not permit the
      Servicer to 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, 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 cause the Servicer
      deliver to the Indenture Trustee an Opinion of Counsel, acceptable to the
      Indenture Trustee, to such effect.

     

    
      
        
        

      

      
        49

        
          

        

      

      
        
        

      

    

    (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 trustee, in accordance with their terms.

     

    (c) If
      (i)
      the Servicer 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 Servicer 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
      investments under subparagraph (d) of the definition of Eligible Investments
      maturing prior to the succeeding Distribution Date in accordance with Section
      5.01(b) of the Sale and Servicing Agreement.

     

                     
      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, 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, in
      form and substance satisfactory to the Indenture Trustee, 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.

     

    
      
        
        

      

      
        50

        
          

        

      

      
        
        

      

    

      

     

     

    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 (which shall conform to the
      provisions of the TIA as in force at the date of the execution thereof), 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;

     

    (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

     

    
      
        
        

      

      
        51

        
          

        

      

      
        
        

      

    

    (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, as evidenced by an Opinion of Counsel, adversely affect
      in any material respect the interests of any Noteholder. The Issuing Entity
      and
      the Indenture Trustee, when authorized by an Issuing Entity Order, may, also
      without consent of any of the Holders of the Notes, enter into an indenture
      or
      indentures supplemental hereto for the purpose of substituting credit
      enhancement for any Class of Notes; provided,
      however,
      that
      the Rating Agency Condition with respect thereto shall have been
      satisfied.

     

                   
      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 a majority of the Outstanding Principal 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:

     

    (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
      Prepayment Price with respect thereto, change the provisions 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 prepayment, on or after the Prepayment
      Date);

     

    (ii) reduce
      the percentage of the Outstanding Principal 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
      the provisions of this Indenture or defaults hereunder and their consequences
      provided for in this Indenture;

     

    
      
        
        

      

      
        52

        
          

        

      

      
        
        

      

    

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

     

    (iv) reduce
      the percentage of the Outstanding Principal 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
      9.02
      except
      to increase any percentage specified herein or to provide that 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 Distribution 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 prepayment
      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.

     

    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. 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 entitled to receive, 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.

     

    
      
        
        

      

      
        53

        
          

        

      

      
        
        

      

       

                        
        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 TIA as then in effect so long as this
      Indenture shall then be qualified under the TIA.

     

                      
      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.

     

      

     

    ARTICLE
      X

     

    PREPAYMENT
      IN FULL OF NOTES

     

                    
      SECTION 10.01. Prepayment.
      The
      Class A-4 Notes and the Class B Notes shall be prepaid in whole, but not in
      part, on any Distribution Date after the Class A-1 Notes, the Class A-2 Notes
      and the Class A-3 Notes have been paid in full on which the Servicer
      exercises the option to purchase the Trust Estate pursuant to Section
      9.01(a)
      of the
      Sale and Servicing Agreement; provided,
      however,
      that
      such purchase is subject to such payment resulting in the Issuing Entity having
      available funds sufficient to pay (i) all amounts due pursuant to Section
      5.04(b)(i)
      of the
      Sale and Servicing Agreement and (ii) the aggregate Prepayment Price for the
      Class A-4 Notes and the Class B Notes. The Issuing Entity shall furnish the
      Rating Agencies notice of such prepayment in full. If the Class A-4 Notes and
      the Class B Notes are to be prepaid pursuant to this Section
      10.01,
      the
      Issuing Entity shall furnish notice of such prepayment to the Indenture Trustee
      not later than 15 days prior to the Prepayment Date, and the Issuing Entity
      shall deposit in the Collection Account not later than two Business Days prior
      to the Prepayment Date the Prepayment Price of the Class A-4 Notes and the
      Prepayment Price of the Class B Notes, whereupon all such Class A-4 Notes and
      Class B Notes shall be due and payable on the Prepayment Date upon the
      furnishing of a notice and the deposit of the Prepayment Price in the Collection
      Account complying with Section
      10.02
      to each
      Holder of the Notes.

     

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

     

    
      
        
        

      

      
        54

        
          

        

      

      
        
        

      

    

    All
      notices of prepayment shall state:

     

    (i) the
      Prepayment Date;

     

    (ii) the
      Prepayment Price; and

     

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

     

    Notice
      of
      prepayment 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 prepayment,
      or
      any defect therein, to any Holder of any Note shall not impair or affect the
      validity of the prepayment of any other Note.

     

                   
      SECTION 10.03.     Notes Payable on Prepayment
      Date.
      The
      Notes to be prepaid shall, following notice of prepayment as required by
Section
      10.02,
      on the
      Prepayment Date become due and payable at the Prepayment Price and (unless
      the
      Issuing Entity shall default in the payment of the Prepayment Price) no interest
      shall accrue on the Prepayment Price for any period after the date to which
      accrued interest is calculated for purposes of calculating the Prepayment
      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;

     

    
      
        
        

      

      
        55

        
          

        

      

      
        
        

      

    

    (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 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 Principal 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 Principal Amount of the Notes.

     

    (iii) Other
      than with respect to the release of any Purchased Receivables or Liquidated
      Receivables or payments pursuant to Section
      3.03,
      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 payments pursuant
      to
Section
      3.03,
      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
      Principal 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 Principal Amount of the Notes.

     

    
      
        
        

      

      
        56

        
          

        

      

      
        
        

      

    

    (v) Notwithstanding
      Section
      2.09
      or any
      other provision of this Section, the Issuing Entity may, without complying
      with
      clauses (i)-(iv) above, (A) collect, liquidate, sell or otherwise dispose of
      Receivables and Financed Equipment 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 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 such officer's 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 Depositor, the Issuing Entity or the Administrator, stating that
      the information with respect to such factual matters is in the possession of
      the
      Servicer, the Depositor, the Issuing Entity or the Administrator, unless such
      officer or 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.

     

    
      
        
        

      

      
        57

        
          

        

      

      
        
        

      

       

                        
        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.

     

    (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 shall be sufficient for every purpose hereunder if made,
      given, furnished or filed in writing to or with the Indenture Trustee and
      received at its Corporate Trust Office, or

     

    (b) the
      Issuing Entity shall be sufficient for every purpose hereunder if in writing
      and
      mailed, first-class, postage prepaid, to the Issuing Entity addressed to:
      Caterpillar Financial Asset Trust 2006-A, in care of Chase Bank USA, National
      Association, as Owner Trustee, c/o JPMorgan Chase, N.A., 500 Stanton Christiana
      Road, OPS4, 3rd Floor, Newark, Delaware 19713, Attention: Institutional Trust
      Services, with a copy to the Administrator, at the following address:
      Caterpillar Financial Services Corporation, 2120 West End Avenue, Nashville,
      Tennessee 37203-1071 or at any other address previously furnished in writing
      to
      the Indenture Trustee by Issuing Entity or the Administrator. The Issuing Entity
      shall promptly transmit any notice received by it from the Noteholders to the
      Indenture Trustee.

     

    
      
        
        

      

      
        58

        
          

        

      

      
        
        

      

    

    (c) the
      Rating Agencies shall be sufficient for every purpose hereunder if 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 (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 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 such Noteholder's 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, 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, 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 TIA, such required provision shall control.

     

    
      
        
        

      

      
        59

        
          

        

      

      
        
        

      

    

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

     

                      
      SECTION 11.10.    Severability.
      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.

     

                        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. Notwithstanding the
      foregoing, this Indenture shall inure to the benefit of and be binding upon
      the
      parties hereto, and the Owner Trustee, the Noteholders, the Certificateholders
      and their respective successors and permitted assigns shall be third party
      beneficiaries. Except as otherwise provided in this Article, no other Person
      shall have any right or obligation hereunder.

     

                     
      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, and no interest shall accrue for the period from and after any
      such nominal date.

     

                   
      SECTION 11.13.   GOVERNING LAW.
      THIS
      INDENTURE SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW
      YORK, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS (OTHER THAN SECTIONS
      5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW) AND THE OBLIGATIONS,
      RIGHTS, AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE
      WITH SUCH LAWS.

     

                   
      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.

     

    
      
        
        

      

      
        60

        
          

        

      

      
        
        

      

       

                      
        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 its 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 its
        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 its 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 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 Article VI, VII and VIII of the Trust Agreement.

    

     

               
      SECTION 11.17.   No Petition.
      Notwithstanding any prior termination of this Indenture, the Indenture Trustee,
      by entering into this Indenture, and each Noteholder and Note Owner, by
      accepting a Note or an interest therein, hereby covenant and agree that they
      will not at any time institute against the Depositor or the Trust, or
      voluntarily join in any institution against the Depositor 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.   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.

     

      

    
      
        
        

      

      
        61

        
          

        

      

      
        
        

      

    

     

    

     

    ARTICLE
      XII

     

    REGULATION
      AB COMPLIANCE

     

                   
      SECTION 12.01.     Intent of the Parties;
      Reasonableness.
      The
      Issuing Entity and the Indenture Trustee acknowledge and agree that the purpose
      of this Article XII is to facilitate compliance by the Issuing Entity and the
      Depositor with the provisions of Regulation AB and related rules and regulations
      of the Commission. Neither the Issuing Entity nor the Depositor shall exercise
      its right to request delivery of information or other performance under these
      provisions other than in good faith, or for purposes other than compliance
      with
      the Securities Act, the Exchange Act and the rules and regulations of the
      Commission under the Securities Act and the Exchange Act. The Indenture 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 Issuing Entity or the Depositor in good faith
      under these provisions on the basis of evolving interpretations of Regulation
      AB. The Indenture Trustee shall cooperate reasonably with the Issuing Entity
      to
      deliver to the Issuing Entity (including any of its assignees or designees)
      and
      the Depositor any and all disclosure, statements, reports, certifications,
      records and any other information reasonably necessary in the good faith
      determination of the Issuing Entity or the Depositor to permit the Issuing
      Entity or the Depositor to comply with the provisions of Regulation
      AB.

     

                      
      SECTION 12.02.    Additional Representations and Warranties of
      the Indenture Trustee.

     

                     
      (a)  The
      Indenture Trustee shall be deemed to represent and warrant to the Issuing Entity
      and to the Depositor, as of the date hereof and as of the date on which
      information is first provided to the Issuing Entity or the Depositor under
      Section 12.03, that, except as disclosed in writing to the Issuing Entity or
      the
      Depositor prior to such date: (i) it is not aware and has not received notice
      that any default, early amortization or other performance triggering event
      has
      occurred as to any other securitization transaction involving equipment leases
      due to any default by the Indenture Trustee; (ii) there are no aspects of its
      financial condition that could have a material adverse effect on the performance
      by it of its trustee obligations under this Indenture; (iii) there are no legal
      or governmental proceedings pending (or known to be contemplated) against it
      that would be material to holders of Notes; and (iv) except as previously
      disclosed to the Depositor, there are no affiliations, relationships or
      transactions relating to the Indenture Trustee with respect to any Transaction
      Party (other than the Custodian if the Indenture Trustee is the Custodian)
      required to be disclosed under Item 1119 of Regulation AB. The Depositor shall
      notify the Indenture Trustee of any change in the identity of a Transaction
      Party after the Closing Date. 

     

                    
      (b)  If so requested by the Issuing Entity or the Depositor on any date
      following the date on which information is first provided to the Issuing Entity
      or the Depositor under Section 12.03, the Indenture Trustee shall, within five
      Business Days following such request, confirm in writing the accuracy of the
      representations and warranties set forth in paragraph (a) of this Section or,
      if
      any such representation and warranty is not accurate as of the date of such
      request or such confirmation, provide reasonably adequate disclosure of the
      pertinent facts, in writing, to the requesting party. Any such request from
      the
      Issuing Entity or the Depositor shall not be given more than once each calendar
      quarter, unless such party shall have a reasonable basis for a determination
      that any of the representations and warranties may not be accurate.

     

    
      
        
        

      

      
        62

        
          

        

      

      
        
        

      

       

                         
        SECTION 12.03. Information to Be Provided by the Indenture
        Trustee.

    

     

                       
      (a) For the purpose of satisfying the reporting obligation of the Issuing Entity
      under the Exchange Act with respect to any class of asset-backed securities,
      the
      Indenture Trustee shall (i) notify the Issuing Entity and the Depositor in
      writing of (A) any litigation or governmental proceedings pending against the
      Indenture Trustee that would be material to holders of Notes, (B) any
      affiliations or relationships that develop following the Closing Date between
      the Indenture Trustee and any Transaction Party that are required to be
      disclosed under Item 1119 of Regulation AB, and (C) any change in control
      or sale of substantially all the assets of the Indenture Trustee and
      (ii) provide to the Issuing Entity and the Depositor a written description
      of such litigation proceedings, affiliations, relationships or corporate
      changes.

     

                      
      (b) As of the date each Report on Form 10-D with respect to the Notes is filed
      by or on behalf of the Issuing Entity, and as of the date each Report on Form
      10-K with respect to the Notes is filed, the Indenture Trustee shall be deemed
      to represent and warrant that any information previously provided by the
      Indenture Trustee under this Article XII is materially correct and does not
      have
      any material omissions unless the Indenture Trustee has provided an update
      to
      such information. The Issuing Entity and the Depositor will allow the Indenture
      Trustee to review any disclosure relating to material litigation against the
      Indenture Trustee prior to filing such disclosure with the Commission to the
      extent the Issuing Entity or the Depositor changes the information provided
      by
      the Indenture Trustee.

     

                        
      SECTION 12.04.   Report on Assessment of Compliance and
      Attestation..
      On or
      before March 15 of each calendar year in which a Form 10-K is required to be
      filed in connection with the Notes, commencing in 2007, the Indenture Trustee
      shall:

     

                       
      (a) deliver to the Servicer, Issuing Entity and Depositor a report (in form
      and
      substance reasonably satisfactory to the Servicer) regarding the Indenture
      Trustee's assessment of compliance with the applicable Servicing Criteria during
      the immediately preceding calendar year, as required under Rules 13a-18 and
      15d-18 of the Exchange Act and Item 1122 of Regulation AB. Such report shall
      be
      addressed to the Servicer, Issuing Entity and Depositor and signed by an
      authorized officer of the Indenture Trustee, and shall address each of the
      Servicing Criteria specified on Exhibit D; and

     

                         (b)
      deliver
      to the Servicer, Issuing Entity and Depositor a report of a nationally
      recognized registered public accounting firm that satisfies the requirements
      of
      Rule 2-01 of Regulation S-X under the Securities Act and the Exchange Act that
      attests to, and reports on, the assessment of compliance made by the Indenture
      Trustee and delivered pursuant to the preceding paragraph as set forth in Item
      1122(b) of Regulation AB. Such attestation shall be in accordance with Rules
      1-02(a)(3) and 2-02(g) of Regulation S-X under the Securities Act and the
      Exchange Act.

     

    
      
        
        

      

      
        63

        
          

        

      

      
        
        

      

       

                           
        SECTION 12.05. Indemnification; Remedies.

    

     

                        
      (a) The Indenture Trustee shall indemnify the Issuing Entity, each affiliate
      of
      the Issuing Entity, the Depositor, the Servicer and each Person responsible
      for
      the preparation, execution or filing of any report required to be filed with
      the
      Commission with respect to the Notes, and each Person who controls any of such
      parties (within the meaning of Section 15 of the Securities Act and Section
      20 of the Exchange Act); and the respective present and former directors,
      officers, employees and agents of each of the foregoing, and shall hold each
      of
      them harmless from and against any losses, damages, penalties, fines,
      forfeitures, legal fees and expenses and related costs, judgments, and any
      other
      costs, fees and expenses that any of them may sustain arising out of or based
      upon:

                                
      (i)      (A) any untrue statement of a material fact
      contained or alleged to be contained in any information, report, certification,
      accountants' attestation or other material provided under this Article XII
      by or
      on behalf of the Indenture Trustee (collectively, the "Trustee Information"),
      or
      (B) the omission or alleged omission to state in the Trustee Information a
      material fact required to be stated in the Trustee Information or necessary
      in
      order to make the statements therein, in the light of the circumstances under
      which they were made, not misleading; provided, by way of clarification, that
      clause (B) of this paragraph shall be construed solely by reference to the
      Trustee Information and not to any other information communicated in connection
      with a sale or purchase of securities, without regard to whether the Trustee
      Information or any portion thereof is presented together with or separately
      from
      such other information; or

     

                                 
      (ii)   any failure by the Indenture Trustee to deliver any
      information, report, certification or other material when and as required under
      this Article XII, other than a failure to deliver the accountants’
attestation.

     

                     
      (b) In the case of any failure of performance described in clause (a)(ii) of
      this Section, other than a failure to deliver an accountants' attestation,
      the
      Indenture Trustee shall promptly reimburse the Servicer, the Issuing Entity,
      and
      the Depositor, as applicable, and each Person responsible for the preparation,
      execution or filing of any report required to be filed with the Commission
      with
      respect to the Notes, or for execution of a certification pursuant to Rule
      13a-14(d) or Rule 15d-14(d) under the Exchange Act with respect to the Notes,
      for all costs reasonably incurred by each such party in order to obtain the
      information, report, certification or other material not delivered as required
      by the Indenture Trustee.

     

                      (c)
      The Issuing Entity, the Servicer and the Depositor shall indemnify the Indenture
      Trustee, each affiliate of the Indenture Trustee and the respective present
      and
      former directors, officers, employees and agents of the Indenture Trustee,
      and
      shall hold each of them harmless from and against any losses, damages,
      penalties, fines, forfeitures, legal fees and expenses and related costs,
      judgments, and any other costs, fees and expenses that any of them may sustain
      arising out of or based upon (i) any untrue statement of a material fact
      contained or alleged to be contained in any information provided under this
      Indenture by or on behalf of the Issuing Entity or the Depositor for inclusion
      in any report filed with the Commission under the Exchange Act (collectively,
      the “Depositor Information”), or (ii) the omission or alleged omission to state
      in the Depositor Information a material fact required to be stated in the
      Depositor 

     

    
      
        
        

      

      
        64

        
          

        

      

      
        
        

      

    

     

     

    Information
      or necessary in order to make the statements therein, in the light of the
      circumstances under which they were made, not misleading; provided, by way
      of
      clarification, that clause (ii) of this paragraph shall be construed solely
      by
      reference to the Depositor Information and not to any other information
      communicated in connection with the sale or purchase of securities, without
      regard to whether the Depositor information or any portion thereof is presented
      together with or separately from such other information; provided, however,
      that
      the Issuing Entity may provide indemnification hereunder only after payments
      required under Sections 5.04(b)(i) through 5.04(b)(ix) of the Sale and Servicing
      Agreement have been paid. 

     

    

     

    [Signature
      Page Follows]

    

     

    

    
      
        
          
             

          

          
          

        

        
          65

          
            

          

        

        
          
          

          
            

          

        

      

    

    

    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 date first above written.

     

    CATERPILLAR
      FINANCIAL ASSET

    TRUST
      2006-A,

    

    By:
      CHASE
      BANK USA, NATIONAL ASSOCIATION, not in its individual capacity but solely as
      Owner Trustee,

    

    

    By: /s/
      Diane P. Ledger 

    Name: Diane
      P.
      Ledger

    Title: Assistant
      Vice President

    

    U.S.
      BANK
      NATIONAL ASSOCIATION,

    not
      in
      its individual capacity but as

    Indenture
      Trustee,

    

    

    By:  /s/
      Melissa A. Rosal

    Name: Melissa
      A. Rosal

    Title: Vice
      President

    

    
      
        
           

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    STATE
      OF
      NEW YORK,     )

                                                    
      )
      ss.:

    COUNTY
      OF
      NEW YORK, )

     

    BEFORE
      ME, the undersigned authority, a Notary Public in and for said County and State,
      on this day personally appeared Diane P. Ledger known to me to be the person
      and
      officer whose name is subscribed to the foregoing instrument and acknowledged
      to
      me that the same was the act of the said Vice President and that she/he executed
      the same as the corporation for the purpose and consideration therein
      stated.

     

    GIVEN
      UNDER MY HAND AND SEAL OF OFFICE, this the 23rd day of June, 2006.

     

    /s/
      Sergio L. Montillo

    Notary
      Public

     

    [Seal]

    My
      commission expires:

     

    October
      28, 2006

     

    

    
      
        
           

          
          

        

        
          2

          
            

          

        

        
          
          

        

      

    

    

    STATE
      OF
      ILLINOIS,      )

                                                
      )
      ss.:

    COUNTY
      OF
      CHICAGO  )

     

    BEFORE
      ME, the undersigned authority, a Notary Public in and for said County and State,
      on this day personally appeared Melissa A. Rosal known to me to be the person
      and officer whose name is subscribed to the foregoing instrument and
      acknowledged to me that the same was the act of the said Vice President and
      that
      she/he executed the same as the corporation for the purpose and consideration
      therein stated.

     

    GIVEN
      UNDER MY HAND AND SEAL OF OFFICE, this the 23rd day of June, 2006.

     

    /s/
      Phyllis Cloud

    Notary
      Public

     

    [Seal]

    My
      commission expires:

     

    1/8/09 

     

    

     

    

    
      
        
          
          

        

        
          3

          
            

          

        

        
          
          

          
            

          

        

      

    

    

    EXHIBIT
      A

     

    SCHEDULE
      OF RECEIVABLES

     

    

     

    

     

    

     

    

    
      
        
          
            A-1

          

          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

    

    

    EXHIBIT
      B

     

    FORM
      OF CLASS A NOTE

     

    REGISTERED                                                                                                                                                                                         $___________* 

     

    No.
      ____

     

    SEE
      REVERSE FOR CERTAIN DEFINITIONS

     

    CUSIP
      NO.________

     

    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 CLASS A NOTE IS PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN.
      ACCORDINGLY, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS CLASS A NOTE AT ANY TIME
      MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF.

     

     

     

     

     

     

     

    
      

    

    *
      Denominations of $1,000 and integral multiples thereof.

     

    

    
      
        
          B-1

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    CATERPILLAR
      FINANCIAL ASSET TRUST 2006-A

    [
      %]
      [CLASS A-l] [CLASS A-2] [CLASS A-3] [CLASS A-4]

    ASSET
      BACKED NOTES

     

    Caterpillar
      Financial Asset Trust 2006-A, 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 [_________], or registered assigns,
      the principal sum of [____________] DOLLARS ($[____________]) payable on each
      Distribution Date in an amount equal to the result obtained by multiplying
      (i) a
      fraction the numerator of which is $[INSERT INITIAL PRINCIPAL AMOUNT OF THIS
      CLASS A NOTE] and the denominator of which is [$ ] [for Class A-1 Notes]] [$
      ]
      [for Class A-2 Notes]] [$ ][for Class A-3 Notes]] [$ ] [for Class A-4 Notes]]
      by
      (ii) the aggregate amount, if any, payable pursuant to the priorities set forth
      in the Sale and Servicing Agreement and the Indenture in respect of principal
      on
      the [Class A-1] [Class A-2] [Class A-3] [Class A-4] Notes pursuant to
Section
      8.02(b)
      of the
      Indenture; provided,
      however,
      the
      entire unpaid principal amount of this Class A Note shall be due and payable
      on
      [the earlier of [date] [for Class A-1]] [date [for Class A-2]] [date] [for
      Class
      A-3]] [date] [for Class A-4]] [and the Prepayment Date, if, any, pursuant to
      Section
      10.01
      of the
      Indenture [for Class A-4 Notes]]. No payments of principal of the Class A-2
      Notes shall be made until the principal of the Class A-l Notes has been paid
      in
      its entirety, no payments of principal of the Class A-3 Notes shall be made
      until the principal of the Class A-1 Notes and the Class A-2 Notes has been
      paid
      in its entirety and no payments of principal of the Class A-4 Notes shall be
      made until the principal 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 Class A Note at the [Class A-1] [Class A-2] [Class A-3] [Class
      A-4] Note Interest Rate on each Distribution Date until the principal of this
      Class A Note is paid or made available for payment, on the principal amount
      of
      this Class A Note outstanding on the preceding Distribution Date after giving
      effect to all payments of principal made on such preceding Distribution Date
      (or
      in the case of the first Distribution Date, on the initial principal amount
      of
      this Class A Note). Interest will accrue for each Distribution Date, with
      respect to the Class A-1 Notes, from and including the most recent Distribution
      Date on which interest has been paid to but excluding such Distribution Date
      or,
      for the initial Distribution Date, from the Closing Date to but excluding such
      Distribution Date and, with respect to the Class A-2 Notes, the Class A-3
      Notes and the Class A-4 Notes, from and including the 25th
      day of
      the month prior to such Distribution Date to but excluding the 25th
      day of
      the month of such Distribution Date. Interest will be computed, with respect
      to
      the Class A-1 Notes, on the basis of a 360-day year and the actual number of
      days elapsed and, with respect to the Class A-2 Notes, the Class A-3 Notes
      and the Class A-4 Notes, on the basis of a 360-day year of twelve 30 day months.
      Such principal of and interest on this Class A Note shall be paid in the manner
      specified on the reverse hereof.

     

    The
      principal of and interest on this Class A 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 Class A Note shall be applied first to interest
      due
      and payable on this Class A Note as provided above and then to the unpaid
      principal of this Class A Note.

     

    
      
        
        

      

      
        B-2

        
          

        

      

      
        
        

      

    

    Reference
      is made to the further provisions of this Class A Note set forth on the reverse
      hereof, which shall have the same effect as though fully set forth on the face
      of this Class A Note.

     

    Unless
      the certificate of authentication hereon has been executed by the Indenture
      Trustee whose name appears below by manual signature, this Class A 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.

     

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

     

    Date:                                                                                   
      CATERPILLAR
      FINANCIAL ASSET

    TRUST
      2006-A

    

    By: CHASE
      BANK USA, NATIONAL 

             
      ASSOCIATION,
      not in
      its individual 

             
      capacity but solely as Owner Trustee under 

              the
      Trust Agreement,

    

    By:                                                                
      

    Name:

    Title:

     

     

     

    
 

    
      
        
          B-3

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    INDENTURE
      TRUSTEE'S CERTIFICATE OF AUTHENTICATION

     

    This
      is
      one of the Class A 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:__________________________________  

    Name:

    Title: 

    

    
      
        
          B-4

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    [REVERSE
      OF NOTE]

     

    This
      Class A Note is one of the [Class A-1] [Class A-2] [Class A-3] [Class A-4]
      Notes
      of a duly authorized issue of Class A Notes of the Issuing Entity, designated
      as
      its [ %] [Class A-1] [Class A-2] [Class A-3] [Class A-4] Asset Backed Notes
      (herein called the "Class A Notes"), all issued under an Indenture, dated as
      of
      June 1, 2006 (such indenture, as supplemented or amended, is herein called
      the
      "Indenture"), between the Issuing Entity and U.S. Bank National Association,
      as
      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 Class A 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
      Class
      A Notes are and will be equally and ratably secured by the collateral granted
      to
      the Indenture Trustee as provided in the Indenture.

     

    Principal
      of the Class A Notes will be payable on each Distribution Date in an amount
      described on the face hereof. "Distribution
      Date"
      means
      the 25th day of each calendar month, or, if any such date is not a Business
      Day,
      the next succeeding Business Day, commencing July 25, 2006.

     

    As
      described above, the entire unpaid principal amount of this Class A Note shall
      be due and payable on the earlier of [date] [for Class A-1]] [date] [for Class
      A-2] [date] [for Class A-3]] [date] [for Class A-4]], and the Prepayment Date,
      if any, pursuant to Section
      10.01
      of the
      Indenture. Notwithstanding the foregoing, the entire unpaid principal amount
      of
      the Class A 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 a majority of the Outstanding Principal 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 Class A Notes of a Class shall be
      made
      pro rata to the Class A Noteholders of such Class entitled thereto.

     

    Payments
      of interest on this Class A Note due and payable on each Distribution Date,
      together with the installment of principal, if any, to the extent not in full
      payment of this Class A Note, shall be made by check mailed to the Person whose
      name appears as the Registered Holder of this Class A 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 Class A 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 Class A Note be submitted for notation of payment. Any reduction
      in
      the principal amount of this Class A Note (or any one or more Predecessor Notes)
      effected by any payments made on any Distribution Date shall be binding upon
      all
      future Holders of this Note and of any Class A 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 Class
      A
      Note on a Distribution 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 Distribution Date by notice
      mailed within five days of such Distribution Date and the amount then due and
      payable shall be payable only upon presentation and surrender of this Class
      A
      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.

     

    
      
        
        

      

      
        B-5

        
          

        

      

      
        
        

      

    

    The
      Issuing Entity shall pay interest on overdue installments of interest at the
      [Class A-1] [Class A-2] [Class A-3] [Class A-4] Note Interest Rate to the extent
      lawful.

     

    [As
      provided in the Indenture, the Class A-4 Notes may be prepaid in whole, but
      not
      in part, by the Issuing Entity, upon the exercise by the Servicer of its option
      to repurchase the Receivables on any Distribution Date on or after the date
      on
      which the Note Value is ten percent or less of the Initial Note
      Value.]

     

    As
      provided in the Indenture and subject to certain limitations set forth therein,
      the transfer of this Class A Note may be registered on the Note Register upon
      surrender of this Class A 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 such Holder's
      attorney duly authorized in writing, with such signature guaranteed by a
      commercial bank or trust company located, or having a correspondent located,
      in
      the City of New York or the city in which the Corporate Trust Office is located,
      or a member firm of a national securities exchange or by another institution
      required to be accepted as a signature guarantor by Rule 17Ad-15 of the
      Exchange Act, and such other documents as the Indenture Trustee may require,
      and
      thereupon one or more new Class A 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 Class A 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 Class A Note or, in the case of
      a
      Note Owner, a beneficial interest in a Class 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 Class A Notes or under the Indenture or any certificate or other writing
      delivered in connection therewith, against (i) the Indenture Trustee or the
      Owner Trustee in its individual capacity, (ii) any owner of a beneficial
      interest in the Issuing Entity or (iii) any partner, owner, beneficiary, agent,
      officer, director or employee of the Indenture Trustee or the Owner Trustee
      in
      its 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 its individual capacity, except
      as any such Person may have expressly agreed and except that any such partner,
      owner or beneficiary shall be fully liable, to the extent provided by applicable
      law, for any unpaid consideration for stock, unpaid capital contribution or
      failure to pay any installment or call owing to such entity.

     

    
      
        
        

      

      
        B-6

        
          

        

      

      
        
        

      

    

    Each
      Class A Noteholder or Class A Note Owner, by acceptance of a Class A Note or,
      in
      the case of a Class A Note Owner, a beneficial interest in a Class A Note,
      covenants and agrees that it will not at any time institute against the Issuing
      Entity or the Depositor, or join in any institution against the Issuing Entity
      or the Depositor of, any bankruptcy, reorganization, arrangement, insolvency
      or
      liquidation proceedings under any United States federal or state bankruptcy
      or
      similar law.

     

    It
      is the
      intent of the Depositor, the Class A Noteholders, the Class B Noteholders,
      the Class A Note Owners, the Class B Note Owners, the Issuing Entity,
      the Certificateholder and the Certificate Owner that the Class A Notes will
      be classified as indebtedness of the Issuing Entity for all United States tax
      purposes. The Class A Noteholders, by acceptance of a Class A Note,
      agree to treat, and to take no action inconsistent with the treatment of, the
      Notes for such tax purposes as indebtedness of the Issuing Entity.

     

    Prior
      to
      the due presentment for registration of transfer of this Class A Note, the
      Issuing Entity, the Indenture Trustee and any agent of the Issuing Entity or
      the
      Indenture Trustee may treat the Person in whose name this Class A 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 Class A 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 Principal Amount of all Notes at the time
      Outstanding. The Indenture also contains provisions permitting the Holders
      of
      Notes representing specified percentages of the Outstanding Principal 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 Class A Note (or any one of more Predecessor Notes) shall
      be conclusive and binding upon such Holder and upon all future Holders of this
      Class A Note and of any Class A 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 Class A 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
      term
      "Issuing Entity" as used in this Class A 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.

     

    
      
        
        

      

      
        B-7

        
          

        

      

      
        
        

      

    

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

     

    This
      Class A Note and the Indenture shall be construed in accordance with the laws
      of
      the State of New York, without reference to its conflict of law provisions,
      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 Class A 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
      Class A Note at the times, place, and rate, and in the coin or currency herein
      prescribed.

     

    Anything
      herein to the contrary notwithstanding, except as expressly provided in the
      Basic Documents, neither Chase Bank USA, 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 Class A 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 Class
      A 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 Class A
      Note.

     

    

    
      
        
          B-8

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    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 Class A Note and all rights thereunder, and hereby authorizes the
      transfer of said Class A Note on the books kept for registration
      thereof.

     

    

     

    

     

    Dated:_______________________                
      Signature
      Guaranteed:_______________________________________*

     

    

     

    
      
        

      

      
        *
          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.

      

    

    

    
      
        
          
            B-9

          

          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

    

    

    EXHIBIT
      C

     

    FORM
      OF CLASS B NOTE

     

    REGISTERED                                                                                                                                                                                         $___________* 

    No.
      ____

     

    SEE
      REVERSE FOR CERTAIN DEFINITIONS

     

    CUSIP
      NO.________

     

    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 CLASS B NOTE IS PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN.
      ACCORDINGLY, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS CLASS B NOTE AT ANY TIME
      MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF.

     

    THIS
      CLASS B NOTE MAY NOT BE HELD BY OR TRANSFERRED TO ANY PERSON WHO IS NOT (A)
      A
      CITIZEN OR RESIDENT OF THE UNITED STATES, (B) A CORPORATION OR PARTNERSHIP
      ORGANIZED IN OR UNDER THE LAWS OF THE UNITED STATES, ANY STATE THEREOF, OR
      ANY
      POLITICAL SUBDIVISION OF EITHER (INCLUDING THE DISTRICT OF COLUMBIA) OR (C)
      AN
      ESTATE OR TRUST, THE INCOME OF WHICH IS INCLUDIBLE IN GROSS INCOME FOR UNITED
      STATES TAX PURPOSES, REGARDLESS OF ITS SOURCE (ANY SUCH PERSON DESCRIBED IN
      THE
      FOREGOING CLAUSES (A), (B) OR (C) BEING HEREIN REFERRED TO AS A "U.S. PERSON").
      IF REQUESTED BY THE DEPOSITOR, THE ISSUING ENTITY OR THE ADMINISTRATOR, THE
      HOLDER OF THIS CLASS B NOTE MUST PROVIDE AN AFFIDAVIT AND RELATED TAX FORMS
      PURSUANT TO SECTION 2.13(b) OF THE INDENTURE REFERRED TO HEREIN TO THE DEPOSITOR
      CERTIFYING THAT SUCH PERSON IS A U.S. PERSON. NOTWITHSTANDING THE REGISTRATION
      IN THE NOTE REGISTER OR ANY TRANSFER, SALE OR OTHER DISPOSITION OF THIS CLASS
      B
      NOTE TO A PERSON OTHER THAN A U.S. PERSON, SUCH REGISTRATION SHALL BE DEEMED
      TO
      BE OF NO LEGAL FORCE OR EFFECT WHATSOEVER AND SUCH PERSON SHALL NOT BE DEEMED
      TO
      BE A CLASS B NOTEHOLDER FOR ANY PURPOSE HEREUNDER, INCLUDING, BUT NOT LIMITED
      TO, THE RECEIPT OF DISTRIBUTIONS ON THIS CLASS B NOTE. EACH BENEFICIAL HOLDER
      OF
      THIS CLASS B NOTE BY ACCEPTANCE OF THIS NOTE SHALL BE DEEMED TO HAVE CONSENTED
      TO THIS PARAGRAPH.

     

    

     

    
      
        

      

      
        *
          Denominations of $1,000 and integral multiples thereof.

      

    

    

    
      
        
          
            C-1

          

          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

    

    

    CATERPILLAR
      FINANCIAL ASSET TRUST 2006-A

    CLASS
      B [
      ]% ASSET BACKED NOTES

     

    Caterpillar
      Financial Asset Trust 2006-A, 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 [_________], or registered assigns,
      the
      principal sum of [____________] DOLLARS ($[ ]) payable on each Distribution
      Date
      in an amount equal to the result obtained by multiplying (i) a fraction the
      numerator of which is $[INSERT INITIAL PRINCIPAL AMOUNT OF THIS CLASS B NOTE]
      and the denominator of which is $[ ] by (ii) the aggregate amount, if any,
      payable pursuant to the priorities set forth in the Sale and Servicing Agreement
      and the Indenture in respect of principal on the Class B Notes pursuant to
      Section
      8.02(b)
      of the
      Indenture; provided,
      however,
      the
      entire unpaid principal amount of this Note shall be due and payable on the
      earlier of [date] and the Prepayment Date, if any, pursuant to Section
      10.01
      of the
      Indenture. No payments of principal of the Class B Notes shall be made until
      the
      principal of the Class A Notes has been paid in its entirety. The Issuing Entity
      will pay interest on this Class B Note at the Class B Note Interest Rate on
      each
      Distribution Date until the principal of this Class B Note is paid or made
      available for payment, on the principal amount of this Class B Note outstanding
      on the preceding Distribution Date after giving effect to all payments of
      principal made on such preceding Distribution Date (or in the case of the first
      Distribution Date, on the initial principal amount of this Class B Note).
      Interest on this Class B Note will accrue for each Distribution Date from and
      including the 25th
      day of
      the month prior to such Distribution Date to but excluding the 25th
      day of
      the month of such Distribution Date. Interest will be computed on the basis
      of a
      360-day year of twelve 30-day months. Such principal of and interest on this
      Class B Note shall be paid in the manner specified on the reverse hereof.
      Payments of principal and interest on this Class B Note are subordinated to
      the
      payment of principal and interest on the Class A Notes to the extent provided
      in
      the Indenture and the Sale and Servicing Agreement.

     

    The
      principal of and interest on this Class B 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 Class B Note shall be applied first to interest
      due
      and payable on this Class B Note as provided above and then to the unpaid
      principal of this Class B Note.

     

    Reference
      is made to the further provisions of this Class B Note set forth on the reverse
      hereof, which shall have the same effect as though fully set forth on the face
      of this Class B Note.

     

    Unless
      the certificate of authentication hereon has been executed by the Indenture
      Trustee whose name appears below by manual signature, this Class B 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.

     

    [Signature
      Page Follows]

    

    
      
        
           

          
          

        

        
          C-1

          
            

          

        

        
          
          

        

      

    

    

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

     

    Date:                                                                                    
      CATERPILLAR
      FINANCIAL ASSET

    TRUST
      2006-A,

    

    By: CHASE
      BANK USA, NATIONAL 

             
      ASSOCIATION,
      not in
      its individual 

             
      capacity but solely as Owner Trustee under 

             
      the Trust Agreement,

    

    

    By:______________________________________

         
Name:

         
      Title:

    

    
      
        
           

          C-2

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    INDENTURE
      TRUSTEE'S CERTIFICATE OF AUTHENTICATION

     

    This
      is
      one of the Class B 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:____________________________________

         
      Name:

         
      Title: 

    

    
      
        
           

          C-3

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    [REVERSE
      OF CLASS B NOTE]

     

    This
      Class B Note is one of the Class B Notes of a duly authorized issue of Class
      B
      Notes of the Issuing Entity, designated as its [__]% Class B Asset Backed Notes
      (herein called the "Class B Notes"), all issued under an Indenture, dated as
      of
      June 1, 2006 (such indenture, as supplemented or amended, is herein called
      the
      "Indenture"), between the Issuing Entity and U.S. Bank National Association,
      as
      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 Class B Notes are subject to all terms of the
      Indenture. All terms used in this Class B 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
      Class
      B Notes are and will be secured by the collateral granted to the Indenture
      Trustee as provided in the Indenture.

     

    Principal
      of the Class B Notes will be payable on each Distribution Date in an amount
      described on the face hereof. "Distribution
      Date"
      means
      the 25th day of each calendar month, or, if any such date is not a Business
      Day,
      the next succeeding Business Day, commencing July 25, 2006.

     

    As
      described above, the entire unpaid principal amount of this Class B Note shall
      be due and payable on the earlier of [date] and the Prepayment Date, if any,
      pursuant to Section
      10.01
      of the
      Indenture. Notwithstanding the foregoing, the entire unpaid principal amount
      of
      the Class B 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 a majority of the Outstanding Principal 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 Class B Notes shall be made pro rata
      to
      the Class B Noteholders entitled thereto.

     

    Payments
      of interest on this Class B Note due and payable on each Distribution Date,
      together with the installment of principal, if any, to the extent not in full
      payment of this Class B Note, shall be made by check mailed to the Person whose
      name appears as the Registered Holder of this Class B 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 the Class B 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 Class B Note be submitted for notation of payment.
      Any reduction in the principal amount of this Class B Note (or any one or more
      Predecessor Notes) effected by any payments made on any Distribution Date shall
      be binding upon all future Holders of this Class B Note and of any Class B
      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 Class B Note on a Distribution 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
      Distribution Date by notice mailed within five days of such Distribution Date
      and the amount then due and payable shall be payable only upon presentation
      and
      surrender of this Class B 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.

     

    
      
        
        

      

      
        C-4

        
          

        

      

      
        
        

      

    

    The
      Issuing Entity shall pay interest on overdue installments of interest at the
      Class B Note Interest Rate to the extent lawful.

     

    As
      provided in the Indenture, the Class A-4 Notes and the Class B Notes may be
      prepaid in whole, but not in part, by the Issuing Entity, upon the exercise
      by
      the Servicer of its option to repurchase the Receivables on any Distribution
      Date on or after the date on which the Note Value is ten percent or less of
      the
      Initial Note Value.

     

    As
      provided in the Indenture and subject to certain limitations set forth therein,
      the transfer of this Class B Note may be registered on the Note Register upon
      surrender of this Class B 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 such Holder's
      attorney duly authorized in writing, with such signature guaranteed by a
      commercial bank or trust company located, or having a correspondent located,
      in
      the City of New York or the city in which the Corporate Trust Office is located,
      or a member firm of a national securities exchange, or by another institution
      required to be accepted as a signature guarantor by Rule 17Ad-15 of the
      Exchange Act and such other documents as the Indenture Trustee may require,
      and
      thereupon one or more new Class B 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 Class B 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 Class B Note or, in the case of
      a
      Note Owner, a beneficial interest in a Class B 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 Class B Notes or under the Indenture or any certificate or other writing
      delivered in connection therewith, against (i) the Indenture Trustee or the
      Owner Trustee in its individual capacity, (ii) any owner of a beneficial
      interest in the Issuing Entity or (iii) any partner, owner, beneficiary, agent,
      officer, director or employee of the Indenture Trustee or the Owner Trustee
      in
      its 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 its individual capacity, except
      as any such Person may have expressly agreed and except that any such partner,
      owner or beneficiary shall be fully liable, to the extent provided by applicable
      law, for any unpaid consideration for stock, unpaid capital contribution or
      failure to pay any installment or call owing to such entity.

     

    
      
        
        

      

      
        C-5

        
          

        

      

      
        
        

      

    

    Each
      Noteholder or Note Owner, by acceptance of a Class B Note or, in the case of
      a
      Note Owner, a beneficial interest in a Class B Note, covenants and agrees that
      it will not at any time institute against the Issuing Entity or the Depositor,
      or join in any institution against the Issuing Entity or the Depositor of,
      any
      bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings
      under any United States federal or state bankruptcy or similar law.

     

    It
      is the
      intent of the Depositor, the Class A Noteholders, the Class B Noteholders,
      the Class A Note Owners, the Class B Note Owners, the Issuing Entity,
      the Certificateholders and the Certificate Owners that, the Class B Notes
      will be classified as indebtedness of the Issuing Entity for all United States
      tax purposes. The Class B Noteholders, by acceptance of a Class B
      Note, agree to treat, and to take no action inconsistent with the treatment
      of,
      the Class B Notes for such tax purposes as indebtedness of the Issuing
      Entity.

     

    Prior
      to
      the due presentment for registration of transfer of this Class B Note, the
      Issuing Entity, the Indenture Trustee and any agent of the Issuing Entity or
      the
      Indenture Trustee may treat the Person in whose name this Class B 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 Class B 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 Principal Amount of all Notes at the time
      Outstanding. The Indenture also contains provisions permitting the Holders
      of
      Notes representing specified percentages of the Outstanding Principal 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 Class B Note (or any one of more Predecessor Notes) shall
      be conclusive and binding upon such Holder and upon all future Holders of this
      Class B Note and of any Class B 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 Class B 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
      term
      "Issuing Entity" as used in this Class B 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
      Class
      B Notes are issuable only in registered form in denominations as provided in
      the
      Indenture, subject to certain limitations therein set forth.

     

    
      
        
        

      

      
        
          C-6

        

        
          

        

      

      
        
        

      

    

    This
      Class B Note and the Indenture shall be construed in accordance with the laws
      of
      the State of New York, without reference to its conflict of law provisions,
      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 Class B 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
      Class B Note at the times, place, and rate, and in the coin or currency herein
      prescribed.

     

    Anything
      herein to the contrary notwithstanding, except as expressly provided in the
      Basic Documents, neither Chase Bank USA, 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 Class B 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 Class
      B 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 Class B
      Note.

     

    

    
      
        
           

          
          

        

        
          C-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 Class B Note and all rights thereunder, and hereby irrevocably
      authorizes the transfer of said Class B Note on the books kept for
      registration thereof.

     

    

     

    

     

    Dated:_________________________________________          
      _________________________________________________*

                                                                                                                                                            
      Signature
      Guaranteed:

     

    

    
      
        

      

      
        *
          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.

      

    

    

    
      
        
          
             

             

          

          
          

        

        
          C-8

          
            

          

        

        
          
          

          
            

          

        

      

    

    

     

    EXHIBIT
      D

     

    SERVICING
      CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE

    

    The
      assessment of compliance to be delivered by the Indenture Trustee shall address,
      at a minimum, the criteria identified as below as "Applicable Servicing
      Criteria":

    

    
      	
              Servicing
                Criteria 

            	
              Applicable
                Servicing Criteria

            
	
              Reference

            	
              Criteria

            	
               

            
	
               

            	
              General
                Servicing Considerations

            	
               

            
	
              1122(d)(1)(i)

            	
              Policies
                and procedures are instituted to monitor any performance or other
                triggers
                and events of default in accordance with the transaction
                agreements.

            	 
	
              1122(d)(1)(ii)

            	
              If
                any material servicing activities are outsourced to third parties,
                policies and procedures are instituted to monitor the third party's
                performance and compliance with such servicing activities.

            	 
	
              1122(d)(1)(iii)

            	
              Any
                requirements in the transaction agreements to maintain a back-up
                servicer
                for the pool assets are maintained.

            	 
	
              1122(d)(1)(iv)

            	
              A
                fidelity bond and errors and omissions policy is in effect on the
                party
                participating in the servicing function throughout the reporting
                period in
                the amount of coverage required by and otherwise in accordance with
                the
                terms of the transaction agreements.

            	 
	
               

            	
              Cash
                Collection and Administration

            	 
	
              1122(d)(2)(i)

            	
              Payments
                on pool assets are deposited into the appropriate custodial bank
                accounts
                and related bank clearing accounts no more than two business days
                following receipt, or such other number of days specified in the
                transaction agreements.

            	 
	
              1122(d)(2)(ii)

            	
              Disbursements
                made via wire transfer on behalf of an obligor or to an investor
                are made
                only by authorized personnel.

            	
              ü

            
	
              1122(d)(2)(iii)

            	
              Advances
                of funds or guarantees regarding collections, cash flows or distributions,
                and any interest or other fees charged for such advances, are made,
                reviewed and approved as specified in the transaction
                agreements.

            	 
	
              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)(2)(vi)

            	
              Unissued
                checks are safeguarded so as to prevent unauthorized
                access.

            	 
	
              1122(d)(2)(vii)

            	
              Reconciliations
                are prepared on a monthly basis for all asset-backed securities related
                bank accounts, including custodial accounts and related bank clearing
                accounts. These reconciliations are (A) mathematically accurate;
                (B)
                prepared within 30 calendar days after the bank statement cutoff
                date, or
                such other number of days specified in the transaction agreements;
                (C)
                reviewed and approved by someone other than the person who prepared
                the
                reconciliation; and (D) contain explanations for reconciling items.
                These
                reconciling items are resolved within 90 calendar days of their original
                identification, or such other number of days specified in the transaction
                agreements.

            	 
	
               

            	
              Investor
                Remittances and Reporting

            	 
	
              1122(d)(3)(i)

            	
              Reports
                to investors, including those to be filed with the Commission, are
                maintained in accordance with the transaction agreements and applicable
                Commission requirements. Specifically, such reports (A) are prepared
                in
                accordance with timeframes and other terms set forth in the transaction
                agreements; (B) provide information calculated in accordance with
                the
                terms specified in the transaction agreements; (C) are filed with
                the
                Commission as required by its rules and regulations; and (D) agree
                with
                investors' or the trustee's records as to the total unpaid principal
                balance and number of pool assets serviced by the
                Servicer.

            	 
	
              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.

            	
              ü

            
	
              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.

            	
              ü

            
	
              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.

            	
              ü

            
	
               

            	
              Pool
                Asset Administration

            	 
	
              1122(d)(4)(i)

            	
              Collateral
                or security on pool assets is maintained as required by the transaction
                agreements or related asset pool documents.

            	 
	
              1122(d)(4)(ii)

            	
              Pool
                asset and related documents are safeguarded as required by the transaction
                agreements

            	 
	
              1122(d)(4)(iii)

            	
              Any
                additions, removals or substitutions to the asset pool are made,
                reviewed
                and approved in accordance with any conditions or requirements in
                the
                transaction agreements.

            	 
	
              1122(d)(4)(iv)

            	
              Payments
                on pool assets, including any payoffs, made in accordance with the
                related
                pool asset documents are posted to the Servicer's obligor records
                maintained no more than two business days after receipt, or such
                other
                number of days specified in the transaction agreements, and allocated
                to
                principal, interest or other items (e.g., escrow) in accordance with
                the
                related asset pool documents.

            	 
	
              1122(d)(4)(v)

            	
              The
                Servicer's records regarding the pool assets agree with the Servicer's
                records with respect to an obligor's unpaid principal
                balance.

            	 
	
              1122(d)(4)(vi)

            	
              Changes
                with respect to the terms or status of an obligor's pool asset (e.g.,
                loan
                modifications or re-agings) are made, reviewed and approved by authorized
                personnel in accordance with the transaction agreements and related
                pool
                asset documents.

            	 
	
              1122(d)(4)(vii)

            	
              Loss
                mitigation or recovery actions (e.g., forbearance plans, modifications
                and
                deeds in lieu of foreclosure, foreclosures and repossessions, as
                applicable) are initiated, conducted and concluded in accordance
                with the
                timeframes or other requirements established by the transaction
                agreements.

            	 
	
              1122(d)(4)(viii)

            	
              Records
                documenting collection efforts are maintained during the period a
                pool
                asset is delinquent in accordance with the transaction agreements.
                Such
                records are maintained on at least a monthly basis, or such other
                period
                specified in the transaction agreements, and describe the entity's
                activities in monitoring delinquent pool assets including, for example,
                phone calls, letters and payment rescheduling plans in cases where
                delinquency is deemed temporary (e.g., illness or
                unemployment).

            	 
	
              1122(d)(4)(ix)

            	
              Adjustments
                to interest rates or rates of return for pool assets with variable
                rates
                are computed based on the related pool asset documents.

            	 
	
              1122(d)(4)(x)

            	
              Regarding
                any funds held in trust for an obligor (such as escrow accounts):
                (A) such
                funds are analyzed, in accordance with the obligor's pool asset documents,
                on at least an annual basis, or such other period specified in the
                transaction agreements; (B) interest on such funds is paid, or credited,
                to obligors in accordance with applicable pool asset documents and
                state
                laws; and (C) such funds are returned to the obligor within 30 calendar
                days of full repayment of the related pool assets, or such other
                number of
                days specified in the transaction agreements.

            	 
	
              1122(d)(4)(xi)

            	
              Payments
                made on behalf of an obligor (such as tax or insurance payments)
                are made
                on or before the related penalty or expiration dates, as indicated
                on the
                appropriate bills or notices for such payments, provided that such
                support
                has been received by the servicer at least 30 calendar days prior
                to these
                dates, or such other number of days specified in the transaction
                agreements.

            	 
	
              1122(d)(4)(xii)

            	
              Any
                late payment penalties in connection with any payment to be made
                on behalf
                of an obligor are paid from the servicer's funds and not charged
                to the
                obligor, unless the late payment was due to the obligor's error or
                omission.

            	 
	
              1122(d)(4)(xiii)

            	
              Disbursements
                made on behalf of an obligor are posted within two business days
                to the
                obligor's records maintained by the servicer, or such other number
                of days
                specified in the transaction agreements.

            	 
	
              1122(d)(4)(xiv)

            	
              Delinquencies,
                charge-offs and uncollectible accounts are recognized and recorded
                in
                accordance with the transaction agreements.

            	 
	
              1122(d)(4)(xv)

            	
              Any
                external enhancement or other support, identified in Item 1114(a)(1)
                through (3) or Item 1115 of Regulation AB, is maintained as set forth
                in
                the transaction agreements.Exhibit 4.2

     

    EXHIBIT
      4.2

    
      

      

    

     

     

     

    AMENDED
      AND RESTATED TRUST AGREEMENT

     

     

    among

     

     

    CATERPILLAR
      FINANCIAL FUNDING CORPORATION

     

     

    Depositor

     

     

    and

     

     

    CHASE
      BANK USA, NATIONAL ASSOCIATION,

     

     

    Owner
      Trustee

     

     

    Dated
      as
      of June 28, 2006

     

     

    

     

    
      

      

    

    
      
        
           

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

     

    TABLE
      OF
      CONTENTS

    ARTICLE
      I           DEFINITIONS...............................................................................................................................................................1

     

    Section
      1.01.     Capitalized
      Terms.............................................................................................................................................1

     

    Section
      1.02.     Other
      Definitional
      Provisions........................................................................................................................3

     

    ARTICLE
      II          ORGANIZATION........................................................................................................................................................4

     

    Section
      2.01.     Name..................................................................................................................................................................4

     

    Section
      2.02.     Office.................................................................................................................................................................4

     

    Section
      2.03.     Purpose
      and
      Powers.......................................................................................................................................4

     

    Section
      2.04.     Appointment
      of Owner
      Trustee....................................................................................................................5

     

    Section
      2.05.    Initial
      Capital Contribution of Trust
      Estate...................................................................................................5

     

    Section
      2.06.    Declaration
      of
      Trust..........................................................................................................................................5

     

    Section
      2.07.     Liability
      of the
      Certificateholder.....................................................................................................................6

     

    Section
      2.08.     Title
      to
      Trust
      Property.....................................................................................................................................6

     

    Section
      2.09.     Situs
      of
      Trust.....................................................................................................................................................6

     

    Section
      2.10.     Representations
      and Warranties of
      Depositor.............................................................................................6

     

    Section
      2.11.     Amended
      and Restated Trust
      Agreement.....................................................................................................7

     

    ARTICLE
      III        CERTIFICATES
      AND TRANSFER OF
      INTERESTS.................................................................................................7

     

    Section
      3.01.     Initial
      Ownership................................................................................................................................................7

     

    Section
      3.02.    Form
      of
      Certificates.............................................................................................................................................7

     

    Section
      3.03.     Authentication
      of the
      Certificate.....................................................................................................................7

     

    Section
      3.04.     Registration
      of Transfer of the
      Certificate......................................................................................................8

     

    Section
      3.05.     Mutilated,
      Destroyed, Lost or Stolen
      Certificate...........................................................................................8

     

    Section
      3.06.     Persons
      Deemed
      Owner....................................................................................................................................9

     

    Section
      3.07.     Access
      to
      List of Certificateholder's Names and
      Addresses......................................................................9

     

    Section
      3.08.     Maintenance
      of Office or
      Agency..................................................................................................................9

     

    Section
      3.09.     Appointment
      of Paying
      Agents......................................................................................................................9

     

    Section
      3.10.     Certificates
      Nonassessable and Fully
      Paid..................................................................................................10

     

    ARTICLE
      IV        ACTIONS
      BY OWNER
      TRUSTEE..............................................................................................................................10

     

    Section
      4.01     .Prior
      Notice to Certificateholder with Respect to Certain
      Matters............................................................10

     

    Section
      4.02.     Action
      By
      the Certificateholder with Respect to Certain
      Matters..............................................................11

     

    Section
      4.03.     Action
      By
      Certificateholder with Respect to
      Bankruptcy...........................................................................11

     

    
      
        
        

      

      
        -i-

        
          

        

      

      
        
        

      

    

    TABLE
      OF CONTENTS

    (continued)

     

    Section
      4.04.     Restrictions
      on Certificateholder's
      Power.......................................................................................................11

     

    ARTICLE
      V          APPLICATION
      OF TRUST FUNDS; CERTAIN
      DUTIES........................................................................................11

     

    Section
      5.01.     Establishment
      of Trust
      Account......................................................................................................................11

     

    Section
      5.02.     Application
      of Trust
      Funds...............................................................................................................................11

     

    Section
      5.03.     Method
      of
      Payment............................................................................................................................................12

     

    Section
      5.04.     No
      Segregation of Monies; No
      Interest...........................................................................................................12

     

    Section
      5.05.     Accounting
      and Report to the Noteholders, the Certificateholder, the Internal

                              
       Revenue Service and
      Others.............................................................................................................................13

     

    ARTICLE
      VI        AUTHORITY
      AND DUTIES OF OWNER
      TRUSTEE.................................................................................................13

     

    Section
      6.01.     General
      Authority................................................................................................................................................13

     

    Section
      6.02.     General
      Duties......................................................................................................................................................13

     

    Section
      6.03.     Action
      Upon
      Instruction....................................................................................................................................13

     

    Section
      6.04.     No
      Duties
      Except as Specified in This Agreement or in
      Instructions........................................................14

     

    Section
      6.05.     No
      Action
      Except under Specified Documents or
      Instructions..................................................................15

     

    Section
      6.06.     Restrictions.........................................................................................................................................................15

     

    ARTICLE
      VII       CONCERNING
      THE OWNER
      TRUSTEE....................................................................................................................15

     

    Section
      7.01.     Acceptance
      of Trusts and
      Duties...................................................................................................................15

     

    Section
      7.02.     Furnishing
      of
      Documents.................................................................................................................................16

     

    Section
      7.03.     Representations
      and
      Warranties.....................................................................................................................16

     

    Section
      7.04.     Reliance;
      Advice of
      Counsel............................................................................................................................17

     

    Section
      7.05.     Not
      Acting in Individual
      Capacity...................................................................................................................17

     

    Section
      7.06.     Owner
      Trustee Not Liable for the Certificate, Notes or
      Receivables..........................................................17

     

    Section
      7.07.     Owner
      Trustee May Own the Certificate and
      Notes.....................................................................................18

     

    ARTICLE
      VIII      COMPENSATION
      OF OWNER
      TRUSTEE.................................................................................................................18

     

    Section
      8.01.     Owner
      Trustee's Fees and
      Expenses................................................................................................................18

     

    Section
      8.02.     Indemnification....................................................................................................................................................18

     

    Section
      8.03.     Payments
      to the Owner
      Trustee........................................................................................................................19

     

    ARTICLE
      IX       TERMINATION
      OF TRUST
      AGREEMENT.................................................................................................................19

     

    Section
      9.01.     Termination
      of Trust
      Agreement......................................................................................................................19

     

    
      
        
        

      

      
        -ii-

        
          

        

      

      
        
        

      

    

    
      TABLE
        OF CONTENTS

      (continued)

    

     

    ARTICLE
      X         SUCCESSOR
      OWNER TRUSTEES AND ADDITIONAL OWNER
      TRUSTEES....................................................20

     

    Section
      10.01.     Eligibility
      Requirements for Owner
      Trustee..................................................................................................20

     

    Section
      10.02.     Resignation
      or Removal of Owner
      Trustee...................................................................................................20

     

    Section
      10.03.     Successor
      Owner
      Trustee................................................................................................................................21

     

    Section
      10.04.     Merger
      or
      Consolidation of Owner
      Trustee..................................................................................................21

     

    Section
      10.05.     Appointment
      of Co-Trustee or Separate
      Trustee........................................................................................22

     

    ARTICLE
      XI        MISCELLANEOUS..........................................................................................................................................................23

     

    Section
      11.01.     Supplements
      and
      Amendments......................................................................................................................23

     

    Section
      11.02.     No
      Legal
      Title to Owner Trust Estate in the
      Owner....................................................................................24

     

    Section
      11.03.     Limitations
      on Rights of
      Others.....................................................................................................................24

     

    Section
      11.04.     Notices...............................................................................................................................................................24

     

    Section
      11.05.     Severability........................................................................................................................................................24

     

    Section
      11.06.     Separate
      Counterparts......................................................................................................................................25

     

    Section
      11.07.     Successors
      and
      Assigns..................................................................................................................................25

     

    Section
      11.08.     No
      Petition..........................................................................................................................................................25

     

    Section
      11.09.     No
      Recourse.......................................................................................................................................................25

     

    Section
      11.10.     Headings..............................................................................................................................................................25

     

    Section
      11.11.     GOVERNING
      LAW.............................................................................................................................................25

     

    Section
      11.12.     Certificate
      Transfer
      Restrictions.......................................................................................................................25

    .

    Section
      11.13.     Depositor
      Payment
      Obligation.........................................................................................................................26

     

    ARTICLE
      XII       REGULATION
      AB
      COMPLIANCE................................................................................................................................26

     

    Section
      12.01.     Intent
      of
      the Parties;
      Reasonableness............................................................................................................26

     

    Section
      12.02.     Additional
      Representation and Warranty of the Owner
      Trustee...............................................................27

     

    Section
      12.03.     Information
      to Be Provided by the Owner
      Trustee.......................................................................................27

     

    EXHIBITS

    EXHIBIT
      A
      - FORM OF
      CERTIFICATE...................................................................................................................................A-1

    EXHIBIT
      B
      - CERTIFICATE OF
      TRUST...................................................................................................................................B-1

    EXHIBIT
      C
      - CERTIFICATEHOLDER
      CERTIFICATION.......................................................................................................C-1

    

    

    
      
        
          
            	
                     

                  	
                     

                  	 

          

          

        

        
        

      

      
        -iii-

        
          

        

      

      
        
        

        
           

        

      

    

    AMENDED
      AND RESTATED TRUST AGREEMENT dated as of June 28, 2006, between CATERPILLAR
      FINANCIAL FUNDING CORPORATION, a Nevada corporation, as depositor, and CHASE
      BANK USA, NATIONAL ASSOCIATION, as trustee.

     

     

    ARTICLE
      I

     

    DEFINITIONS

     

    Section
      1.01.  Capitalized
      Terms.
      For all
      purposes of this Agreement, the following terms shall have the meanings set
      forth below:

     

    "Administration
      Agreement"
      means
      the Administration Agreement, dated as of June 1, 2006, among the Administrator,
      the Issuing Entity, the Depositor and the Indenture Trustee, as the same may
      be
      amended, modified or supplemented from time to time.

     

    "Administrator"
      means
      Caterpillar Financial Services Corporation, a Delaware corporation, or any
      successor Administrator under the Administration Agreement.

     

    "Agreement"
      means
      this Trust Agreement, as the same may be amended, modified or supplemented
      from
      time to time.

     

    "Basic
      Documents"
      means
      the Purchase Agreement, the Sale and Servicing Agreement, the Indenture, the
      Administration Agreement, the Depository Agreement, the Custodial Agreement,
      the
      Notes, the Certificates and the other documents and certificates delivered
      in
      connection therewith.

     

    "Benefit
      Plan Investor"
      has the
      meaning specified in Section
      11.12.

     

    "Certificate
      Balance"
      has the
      meaning specified in the Sale and Servicing Agreement.

     

    "Certificate
      Distribution Account"
      has the
      meaning specified in Section 5.01.

     

    "Certificateholder"
      means
      the registered holder of the Certificate.

     

    "Certificate
      of Trust"
      means
      the Certificate of Trust in the form of Exhibit B which has been filed for
      the Issuing Entity pursuant to Section 3810(a) of the Statutory Trust
      Statute.

     

    "Certificate
      Register"
      and
      "Certificate
      Registrar"
      means
      the register mentioned and the registrar appointed pursuant to Section 3.04.

     

    "Certificateholder
      Certification"
      means
      a
      certification with respect to non-foreign status and Benefit Plan Investor
      status in the form of Exhibit
      C.

     

    "Code"
      means
      the Internal Revenue Code of 1986, as amended.

     

    "Commission"
      means
      the United States Securities and Exchange Commission or any successor
      entity.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    "Corporate
      Trust Office"
      means,
      with respect to the Owner Trustee, the principal corporate trust office of
      the
      Owner Trustee located at c/o JPMorgan Chase, N.A., 500 Stanton Christiana Road,
      OPS4, 3rd Floor, Newark, Delaware 19713; or at such other address as the Owner
      Trustee may designate by notice to the Certificateholder, the Administrator,
      and
      the Depositor, or the principal corporate trust office of any successor Owner
      Trustee (the address of which the successor owner trustee will notify the
      Depositor, the Administrator, and the Certificateholder).

     

    "Depositor"
      means
      Caterpillar Financial Funding Corporation in its capacity as Depositor, and
      its
      successors in such capacity.

     

    "Depository
      Agreement"
      means
      the agreement, dated June 27, 2006, among the Issuing Entity, the Indenture
      Trustee and The Depository Trust Company.

     

    "Exchange
      Act"
      means
      the Securities Exchange Act of 1934, as amended. 

     

    "Expenses"
      has the
      meaning specified in Section 8.02.

     

    "Indemnified
      Parties"
      has the
      meaning specified in Section 8.02.

     

    "Indenture"
      means
      the Indenture, dated as of June 1, 2006, between the Issuing Entity and the
      Indenture Trustee, as the same may be amended, modified or supplemented from
      time to time.

     

    "Indenture
      Trustee"
      means
      U.S. Bank National Association, not in its individual capacity but solely as
      Indenture Trustee under the Indenture, and any successor Indenture Trustee
      under
      the Indenture.

     

    "Issuing
      Entity"
      means
      Caterpillar Financial Asset Trust 2006-A, a Delaware statutory trust created
      pursuant to the Original Trust Agreement.

     

    "Original
      Trust Agreement"
      means
      the Trust Agreement, dated as of June 7, 2006, between Depositor and Owner
      Trustee.

     

    "Owner
      Trust Estate"
      means
      all right, title and interest of the Issuing Entity in and to the property
      and
      rights assigned to the Issuing Entity pursuant to Article II of the Sale and
      Servicing Agreement, all funds on deposit from time to time in the Trust
      Accounts and the Certificate Distribution Account and all other property of
      the
      Issuing Entity from time to time, including any rights of the Owner Trustee
      and
      the Issuing Entity pursuant to the Sale and Servicing Agreement and the
      Administration Agreement.

     

    "Owner
      Trustee"
      means
      Chase Bank USA, National Association, a national banking association, not in
      its
      individual capacity but solely as owner trustee under this Agreement, and any
      successor Owner Trustee hereunder.

     

    "Paying
      Agent"
      means
      any paying agent or co-paying agent appointed pursuant to Section 3.09
      and
      shall initially be JPMorgan Chase Bank, N.A.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    "Record
      Date"
      means,
      with
      respect to any Distribution Date and the Certificate, at the close of business
      on the last calendar day of the month preceding the month in which such
      Distribution Date occurs.

     

    "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 (January 7, 2005)) or by the staff of the
      Commission, or as may be provided by the Commission or its staff from time
      to
      time.

     

    "Sale
      and Servicing Agreement"
      shall
      mean the Sale and Servicing Agreement, dated as of June 1, 2006, among the
      Issuing Entity, the Depositor, as depositor, and Caterpillar Financial Services
      Corporation, as servicer, as the same may be amended, modified or supplemented
      from time to time.

     

    "Secretary
      of State"
      means
      the Secretary of State of the State of Delaware.

     

    "Securities
      Act"
      means
      the Securities Act of 1933, as amended.

     

    "Servicing
      Criteria"
      means
      the "servicing criteria" set forth in Item 1122(d) of Regulation AB, as such
      may
      be amended from time to time.

     

    "Statutory
      Trust Statute"
      means
      Chapter 38 of Title 12 of the Delaware Code, 12 Del.
      Code§ 3801
      et seq.,
      as the
      same may be amended from time to time.

     

    "Transaction
      Party"
      means
      the Issuing Entity, the Depositor, the Servicer, the Owner Trustee, the
      Indenture Trustee, the Administrator, the Custodian and any other material
      transaction party in connection with the Notes.

     

    "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.

     

    Section
      1.02.  Other
      Definitional Provisions.
      

     

    (a)  Capitalized
      terms used herein and not otherwise defined have the meanings assigned to them
      in the Sale and Servicing Agreement or, if not defined therein, in the
      Indenture.

     

    (b)  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.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    (c)  As
      used
      in this Agreement and in any certificate or other document made or delivered
      pursuant hereto, 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. 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, the definitions contained in this Agreement or in any such
      certificate or other document shall control.

     

    (d)  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 and Exhibit references contained
      in this Agreement are references to Sections and Exhibits in or to this
      Agreement unless otherwise specified; and the term "including" shall mean
      "including without limitation"; the term "or" is not exclusive; and the term
      "proceeds" has the meaning set forth in the UCC.

     

    (e)  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.

     

    
 

    ARTICLE
      II

     

    ORGANIZATION

     

    Section
      2.01.  Name.
      The
      Trust created by the Original Trust Agreement shall be known as "Caterpillar
      Financial Asset Trust 2006-A," in which name the Owner Trustee may conduct
      the
      business of the Trust, make and execute contracts and other instruments on
      behalf of the Trust and sue and be sued.

     

    Section
      2.02.  Office.
      The
      office of the Trust shall be in care of the Owner Trustee at the Corporate
      Trust
      Office or at such other address in the State of Delaware as the Owner Trustee
      may designate by written notice to the Depositor and the
      Administrator.

     

    Section
      2.03.  Purpose
      and Powers.
      

     

    (a)  The
      purpose of the Trust is to engage in the following activities:

     

    (i)  to
      issue
      the Class A-1 Notes, Class A-2 Notes, the Class A-3 Notes, the Class A-4
      Notes and the Class B Notes pursuant to the Indenture and the Certificate
      pursuant to this Agreement, and to sell $246,100,000 aggregate principal amount
      of the Class A-1 Notes, $250,000,000 aggregate principal amount of Class A-2
      Notes, $302,000,000 aggregate principal amount of the Class A-3 Notes,
      $136,460,000 aggregate principal amount of the Class A-4 Notes, $26,560,000
      aggregate principal amount of Class B Notes to or upon the written order of
      the
      Depositor pursuant to Section
      2.01
      of the
      Sale and Servicing Agreement and issue the Certificate with an initial
      Certificate Balance of $4,835,819 to or upon the written order of the Depositor
      pursuant to Section
      2.01
      of the
      Sale and Servicing Agreement;

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    (ii)  with
      the
      proceeds from capital contributions from the Depositor to pay the
      organizational, start-up and transactional expenses of the Trust and to fund
      the
      Reserve Account;

     

    (iii)  to
      assign, grant, transfer, pledge, mortgage and convey the Trust Estate pursuant
      to the Indenture and to hold, manage and distribute to the Certificateholder
      pursuant to the terms of the Sale and Servicing Agreement and this Agreement
      any
      portion of the Trust Estate released from the Lien of, and remitted to the
      Trust
      pursuant to, the Indenture;

     

    (iv)  to
      enter
      into and perform its obligations under the Basic Documents to which it is to
      be
      a party;

     

    (v)  to
      engage
      in those activities, including entering into agreements, that are necessary,
      suitable or convenient to accomplish the foregoing or are incidental thereto
      or
      connected therewith; and

     

    (vi)  subject
      to compliance with the Basic Documents, to engage in such other activities
      as
      may be required in connection with conservation of the Owner Trust Estate and
      the making of distributions to the Certificateholder and the
      Noteholders.

     

    The
      Trust
      shall not engage in any activity other than in connection with the foregoing
      or
      other than as required or authorized by the terms of this Agreement or the
      Basic
      Documents.

     

    Section
      2.04.  Appointment
      of Owner Trustee.
      The
      Depositor hereby appoints the Owner Trustee as trustee of the Trust effective
      as
      of the date hereof, to have all the rights, powers and duties set forth
      herein.

     

    Section
      2.05.  Initial
      Capital Contribution of Trust Estate.
      Pursuant to the Original Trust Agreement, the Depositor sold, assigned,
      transferred, conveyed and set over to the Owner Trustee, as of the date thereof,
      the sum of $100. The Owner Trustee hereby acknowledges receipt in trust from
      the
      Depositor, as of the date of the Original Trust Agreement, of the foregoing
      contribution, which shall constitute the initial Owner Trust Estate and shall
      be
      deposited in the Certificate Distribution Account. The Depositor shall pay
      organizational expenses of the Trust as they may arise or shall, upon the
      request of the Owner Trustee, promptly reimburse the Owner Trustee for any
      such
      expenses paid by the Owner Trustee.

     

    Section
      2.06.  Declaration
      of Trust.
      The
      Owner Trustee hereby declares that it will hold the Owner Trust Estate in trust
      upon and subject to the conditions set forth herein for the use and benefit
      of
      the Certificateholder, subject to the obligations of the Trust under the Basic
      Documents. It is the intention of the parties hereto that the Trust constitute
      a
      statutory trust under the Statutory Trust Statute and that this Agreement
      constitute the governing instrument of such statutory trust. It is the intention
      of the parties hereto that, for income and franchise tax purposes, the Trust
      shall be treated as a "disregarded entity" and, therefore, shall be disregarded
      as an entity separate from the Certificateholder. The parties agree that, unless
      otherwise required by appropriate tax authorities, the Trust will file or cause
      to be filed annual or other necessary returns, reports and other forms
      consistent with the characterization of the Trust as a disregarded entity for
      such tax purposes. Effective as of the date hereof, the Owner Trustee shall
      have
      all rights, powers and duties set forth herein and in the Statutory Trust
      Statute with respect to accomplishing the purposes of the Trust.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    Section
      2.07.  Liability
      of the Certificateholder.
      The
      Certificateholder shall not have any personal liability for any liability or
      obligation of the Trust.

     

    Section
      2.08.  Title
      to Trust Property.
      Legal
      title to all the Owner Trust Estate shall be vested at all times in the Trust
      as
      a separate legal entity except where applicable law in any jurisdiction requires
      title to any part of the Owner Trust Estate to be vested in one or more
      trustees, in which case title shall be deemed to be vested in the Owner Trustee,
      a co-trustee or a separate trustee, as the case may be.

     

    Section
      2.09.  Situs
      of Trust.
      The
      Trust will be located and administered in the State of Delaware. All bank
      accounts maintained by the Owner Trustee on behalf of the Trust shall be located
      in the State of Delaware or the State of New York. The Trust shall not have
      any
      employees in any state other than Delaware; provided,
      however,
      that
      nothing herein shall restrict or prohibit the Owner Trustee from having
      employees within or without the State of Delaware. Payments will be received
      by
      the Trust only in Delaware or New York, and payments will be made by the Trust
      only from Delaware or New York. The only office of the Trust will be at the
      Corporate Trust Office in Delaware.

     

    Section
      2.10.  Representations
      and Warranties of Depositor.
      The
      Depositor hereby represents and warrants to the Owner Trustee that:

     

    (a)  The
      Depositor is duly organized and validly existing as a corporation in good
      standing under the laws of the State of Nevada, with power and authority to
      own
      its properties and to conduct its business as such properties are currently
      owned and such business is presently conducted.

     

    (b)  The
      Depositor 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 Depositor, the Servicer or the Owner Trustee.

     

    (c)  The
      Depositor has the power and authority to execute and deliver this Agreement
      and
      to carry out its terms; the Depositor has full power and authority to sell
      and
      assign the property to be sold and assigned to and deposited with the Trust
      and
      the Depositor shall have duly authorized such sale and assignment and deposit
      to
      the Trust by all necessary corporate action; and the execution, delivery and
      performance of this Agreement has been duly authorized by the Depositor by
      all
      necessary corporate action.

     

    (d)  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, or constitute (with or without notice or
      lapse of time) a default under, the certificate of incorporation or by-laws
      of
      the Depositor, or any indenture, agreement or other instrument to which the
      Depositor is a party or by which it is 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 Depositor's knowledge,
      any order, rule or regulation applicable to the Depositor of any court, federal
      or state regulatory body, administrative agency or other governmental
      instrumentality having jurisdiction over the Depositor or its
      properties.

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    (e)  There
      are
      no proceedings or investigations pending, or, to the best of Depositor's
      knowledge, threatened, before any court, federal or state regulatory body,
      administrative agency or other governmental instrumentality having jurisdiction
      over the Depositor or its properties which (i) assert the invalidity of this
      Agreement or any of the Basic Documents, (ii) seek to prevent the consummation
      of any of the transactions contemplated by this Agreement or any of the Basic
      Documents, or (iii) seek any determination or ruling that might materially
      and
      adversely affect the performance by the Depositor of its obligations under,
      or
      the validity or enforceability of, this Agreement or any of the Basic
      Documents.

     

    Section
      2.11.  Amended
      and Restated Trust Agreement.
      This
      Agreement amends and restates in its entirety the Original Trust
      Agreement.

     

     

    ARTICLE
      III

     

    CERTIFICATES
      AND TRANSFER OF INTERESTS

     

    Section
      3.01.  Initial
      Ownership.
      Upon
      the formation of the Trust pursuant to the Original Trust Agreement and
      thereafter so long as the Depositor remains the "Certificateholder," the
      Depositor shall be the sole beneficiary of the Trust. Notwithstanding any other
      provision of this Agreement, the interest of the Depositor in the Trust
      (including its interest by virtue of being the holder of the Certificate) shall
      be transferable only in whole and any successor to the Depositor pursuant to
      such a transfer shall thenceforth be deemed the Depositor for purposes of this
      Agreement. No such transfer shall be effective until such time as written notice
      thereof signed by both the transferor and transferee and an executed copy of
      the
      Certificateholder Certification are delivered to the Owner Trustee.

     

    Section
      3.02.  Form
      of Certificates.
      The
      Certificate shall be issued in an original Certificate Balance of $4,835,819.
      The Certificate shall be executed on behalf of the Trust by manual or facsimile
      signature of a Trust Officer of the Owner Trustee. The Certificate bearing
      the
      manual or facsimile signatures of individuals who were, at the time when such
      signatures shall have been affixed, authorized to sign on behalf of the Trust,
      shall, when duly authenticated pursuant to Section 3.03,
      be
      validly issued and entitled to the benefits of this Agreement, notwithstanding
      that such individuals or any of them shall have ceased to be so authorized
      prior
      to the authentication and delivery of the Certificate or did not hold such
      offices at the date of authentication and delivery of the
      Certificate.

     

    Section
      3.03.  Authentication
      of the Certificate.
      Concurrently with the initial sale of the Receivables to the Trust pursuant
      to
      the Sale and Servicing Agreement, the Owner Trustee shall cause the Certificate
      in a principal amount equal to the initial Certificate Balance to be executed
      on
      behalf of the Trust, authenticated and delivered to or upon the written order
      of
      the Depositor, signed by its Chairman of the Board, its President, any Vice
      President, its Treasurer, its Secretary or any Assistant Treasurer, without
      further corporate action by the Depositor. The Certificate shall not entitle
      its
      holder to any benefit under this Agreement, or be valid for any purpose, unless
      there shall appear on the Certificate a certificate of authentication
      substantially in the form set forth in Exhibit A executed by the Owner
      Trustee or the Owner Trustee's authentication agent, by manual signature; such
      authentication shall constitute conclusive evidence that the Certificate shall
      have been duly authenticated and delivered hereunder. The Certificate shall
      be
      dated the date of its authentication.

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    Section
      3.04.  Registration
      of Transfer of the Certificate.
      The
      Certificate Registrar shall keep or cause to be kept, at the office or agency
      maintained pursuant to Section 3.08,
      a
      Certificate Register in which, subject to such reasonable regulations as it
      may
      prescribe, the Owner Trustee shall provide for the registration of the
      Certificate and of transfers of the Certificate as herein provided. JPMorgan
      Chase Bank, N.A. shall be the initial Certificate Registrar.

     

    Upon
      surrender for registration of transfer of the Certificate at the office or
      agency maintained pursuant to Section
      3.08,
      the
      Owner Trustee shall execute, authenticate and deliver (or shall cause its
      authenticating agent to authenticate and deliver), in the name of the designated
      transferee or transferees, a new Certificate of a like aggregate amount dated
      the date of authentication by the Owner Trustee or any authenticating agent.
      The
      Owner Trustee shall not register a transfer of any Certificate unless the
      transferee of the Certificate delivers to the Certificate Registrar and
      authenticating agent an executed Certificateholder Certification.

     

    The
      Certificate presented or surrendered for registration of transfer shall be
      accompanied by a written instrument of transfer in form satisfactory to the
      Owner Trustee and the Certificate Registrar duly executed by the
      Certificateholder or its attorney duly authorized in writing, along with a
      Certificateholder Certification duly executed by the transferee of such
      Certificate. The Certificate surrendered for registration of transfer shall
      be
      cancelled and subsequently disposed of by the Owner Trustee in accordance with
      its customary practice.

     

    No
      service charge shall be made for any registration of transfer of the
      Certificate, but the Owner Trustee or the Certificate Registrar may require
      payment of a sum sufficient to cover any tax or governmental charge that may
      be
      imposed in connection with any transfer or exchange of the
      Certificate.

     

    The
      Certificate has not been and will not be registered under the Securities Act,
      or
      any state securities laws and neither the Certificate nor any interest therein
      may be offered, sold, pledged or otherwise transferred except in accordance
      with
      applicable securities laws of any state of the United States and in reliance
      on
      the private placement exemption of the Securities Act. The Owner Trustee may
      (but shall not be obligated) at any time or times request an Opinion of Counsel
      as to compliance with this restriction in connection with any transfer of a
      Certificate.

     

    Section
      3.05.  Mutilated,
      Destroyed, Lost or Stolen Certificate.
      If (a)
      the Certificate is mutilated and shall be surrendered to the Certificate
      Registrar, or if the Certificate Registrar shall receive evidence to its
      satisfaction of the destruction, loss or theft of the Certificate and (b) there
      shall be delivered to the Certificate Registrar and the Owner Trustee such
      security or indemnity as may be required by them to save each of them harmless,
      then in the absence of notice that the Certificate shall have been acquired
      by a
      protected purchaser, the Owner Trustee on behalf of the Trust shall execute
      and
      the Owner Trustee, or the Owner Trustee's authenticating agent, shall
      authenticate and deliver, in exchange for or in lieu of any such mutilated,
      destroyed, lost or stolen Certificate, a new Certificate of like tenor and
      denomination. In connection with the issuance of any new Certificate under
      this
      Section, the Owner Trustee or the Certificate Registrar may require the payment
      of a sum sufficient to cover any tax or other governmental charge that may
      be
      imposed in connection therewith. Any duplicate Certificate issued pursuant
      to
      this Section shall constitute conclusive evidence of an ownership interest
      in the Trust, as if originally issued, whether or not the lost, stolen or
      destroyed Certificate shall be found at any time.

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    Section
      3.06.  Persons
      Deemed Owner.
      Prior
      to due presentation of the Certificate for registration of transfer, the Owner
      Trustee or the Certificate Registrar may treat the Person in whose name a
      Certificate is registered in the Certificate Register as the owner of such
      Certificate for the purpose of receiving distributions pursuant to Section 5.02
      and for
      all other purposes whatsoever, and neither the Owner Trustee nor the Certificate
      Registrar shall be bound by any notice to the contrary.

     

    Section
      3.07.  Access
      to List of Certificateholder's Names and Addresses.
      The
      Owner Trustee shall furnish or cause to be furnished to the Servicer and the
      Depositor, within 15 days after receipt by the Owner Trustee of a request
      therefor from the Servicer or the Depositor in writing, the name and address
      of
      the Certificateholder as of the most recent Record Date. The Certificateholder,
      by receiving and holding the Certificate, shall be deemed to have agreed not
      to
      hold the Depositor, the Servicer, or the Owner Trustee accountable by reason
      of
      the disclosure of its name and address, regardless of the source from which
      such
      information was derived.

     

    Section
      3.08.  Maintenance
      of Office or Agency.
      The
      Owner Trustee shall maintain in the Borough of Manhattan, in the City of New
      York, an office or offices or agency or agencies where notices and demands
      to or
      upon the Owner Trustee in respect of the Certificate and the Basic Documents
      may
      be served. The Owner Trustee initially designates JPMorgan Chase Bank, N.A.,
      4
      New York Plaza, New York, New York 10004 as its principal corporate trust office
      for such purposes. The Owner Trustee shall give prompt written notice to the
      Depositor and the Administrator of any change in the location of the Certificate
      Register or any such office or agency.

     

    Section
      3.09.  Appointment
      of Paying Agents.
      The
      Paying Agent shall make distributions to the Certificateholder from the
      Certificate Distribution Account pursuant to Section 5.02
      and
      shall report the amounts of such distributions to the Owner Trustee. Any Paying
      Agent shall have the revocable power to withdraw funds from the Certificate
      Distribution Account for the purpose of making the distributions referred to
      above. The Owner Trustee may revoke such power and remove the Paying Agent
      if
      the Owner Trustee determines in its sole discretion that the Paying Agent shall
      have failed to perform its obligations under this Agreement in any material
      respect. The Paying Agent shall initially be JPMorgan Chase Bank, N.A., and
      any
      co-paying agent chosen by JPMorgan Chase Bank, N.A., and acceptable to the
      Owner
      Trustee. JPMorgan Chase Bank, N.A. shall be permitted to resign as Paying Agent
      upon 30 days' written notice to the Owner Trustee and the Administrator. In
      the
      event that JPMorgan Chase Bank, N.A. shall no longer be the Paying Agent, the
      Owner Trustee shall appoint a successor to act as Paying Agent (which shall
      be a
      bank or trust company). The Owner Trustee shall cause such successor Paying
      Agent or any additional Paying Agent appointed by the Owner Trustee to execute
      and deliver to the Owner Trustee an instrument in which such successor Paying
      Agent or additional Paying Agent shall agree with the Owner Trustee that as
      Paying Agent, such successor Paying Agent or additional Paying Agent will hold
      all sums, if any, held by it for payment to the Certificateholder in trust
      for
      the benefit of the Certificateholder entitled thereto until such sums shall
      be
      paid to the Certificateholder. The Paying Agent shall return all unclaimed
      funds
      to the Owner Trustee and upon removal of a Paying Agent such Paying Agent shall
      also return all funds in its possession to the Owner Trustee. The provisions
      of
Sections 7.01,
      7.03,
      7.04
      and
8.01
      shall
      apply to the Owner Trustee also in its role as Paying Agent, for so long as
      the
      Owner Trustee shall act as Paying Agent and, to the extent applicable, to any
      other paying agent appointed hereunder. Any reference in this Agreement to
      the
      Paying Agent shall include any co-paying agent unless the context requires
      otherwise.

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

    Section
      3.10.  Certificates
      Nonassessable and Fully Paid.
      The
      interests represented by the Certificates shall be nonassessable for any losses
      or expenses of the Issuing Entity or for any reason whatsoever, and, upon the
      authentication thereof by the Owner Trustee pursuant to Section 3.03, 3.04
      or
      3.05, the Certificates are and shall be deemed fully paid.

     

     

     

    ARTICLE
      IV

    ACTIONS
      BY OWNER TRUSTEE

     

    Section
      4.01.  Prior
      Notice to Certificateholder with Respect to Certain Matters.
      With
      respect to the following matters, the Owner Trustee shall not take action unless
      at least 30 days before the taking of such action, the Owner Trustee shall
      have
      notified the Certificateholder in writing of the proposed action and the
      Certificateholder shall not have notified the Owner Trustee in writing prior
      to
      the 30th day after such notice is given that the Certificateholder has withheld
      consent or provided alternative direction:

     

    (a)  the
      initiation of any claim or lawsuit by the Trust (other than an action to collect
      on a Receivable) and the compromise of any action, claim or lawsuit brought
      by
      or against the Trust (other than an action to collect on a
      Receivable);

     

    (b)  the
      election by the Trust to file an amendment to the Certificate of
      Trust;

     

    (c)  the
      amendment of the Indenture by a supplemental indenture in circumstances where
      the consent of any Noteholder is required;

     

    (d)  the
      amendment of the Indenture by a supplemental indenture in circumstances where
      the consent of any Noteholder is not required and such amendment materially
      adversely affects the interest of the Certificateholder;

     

    (e)  the
      amendment, change or modification of the Administration Agreement, except to
      cure any ambiguity or to amend or supplement any provision in a manner that
      would not materially adversely affect the interests of the Certificateholder;
      or

     

    (f)  the
      appointment pursuant to the Indenture of a successor Note Registrar, Paying
      Agent or Trustee or the appointment pursuant to this Agreement of a successor
      Certificate Registrar, or the consent to the assignment by the Note Registrar,
      Paying Agent or Trustee or Certificate Registrar of its obligations under the
      Indenture or this Agreement, as applicable.

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

    Section
      4.02.  Action
      By the Certificateholder with Respect to Certain Matters.
      The
      Owner Trustee shall not have the power, except upon the direction of the
      Certificateholder, to (a) remove the Administrator under the Administration
      Agreement pursuant to Section 8 thereof, (b) appoint a successor
      Administrator pursuant to Section 8 of the Administration Agreement, (c)
      remove the Servicer under the Sale and Servicing Agreement pursuant to
      Section 8.01 thereof or (d) except as expressly provided in the Basic
      Documents, sell the Receivables after the termination of the Indenture. The
      Owner Trustee shall take the actions referred to in the preceding sentence
      only
      upon written instructions signed by the Certificateholder.

     

    Section
      4.03.  Action
      By Certificateholder with Respect to Bankruptcy.
      The
      Owner Trustee shall not have the power to commence a voluntary proceeding in
      bankruptcy relating to the Trust without the prior approval of the
      Certificateholder and the delivery to the Owner Trustee by the Certificateholder
      of a certificate certifying that the Certificateholder reasonably believes
      that
      the Trust is insolvent.

     

    Section
      4.04.  Restrictions
      on Certificateholder's Power.
      The
      Certificateholder shall not direct the Owner Trustee to take or refrain from
      taking any action if such action or inaction would be contrary to any obligation
      of the Trust or the Owner Trustee under this Agreement or any of the Basic
      Documents or would be contrary to Section 2.03
      nor
      shall the Owner Trustee be obligated to follow any such direction, if
      given.

     

     

     

    ARTICLE
      V

    APPLICATION
      OF TRUST FUNDS; CERTAIN DUTIES

     

    Section
      5.01.  Establishment
      of Trust Account.
      The
      Owner Trustee, for the benefit of the Certificateholder, shall establish and
      maintain in the name of the Trust an Eligible Securities Account (the
      "Certificate Distribution Account"), bearing a designation clearly indicating
      that the funds deposited therein are held for the benefit of the
      Certificateholder.

     

    The
      Owner
      Trustee shall possess all right, title and interest in all funds on deposit
      from
      time to time in the Certificate Distribution Account and in all proceeds
      thereof. Except as otherwise provided herein, the Certificate Distribution
      Account shall be under the sole dominion and control of the Owner Trustee for
      the benefit of the Certificateholder. If, at any time, the Certificate
      Distribution Account ceases to be an Eligible Securities Account, the Owner
      Trustee shall within 10 Business Days following notification of such occurrence
      (or such longer period, not to exceed 30 calendar days, as to which each Rating
      Agency may consent) establish a new Certificate Distribution Account as an
      Eligible Securities Account and shall transfer any cash or any investments
      in
      the existing Certificate Distribution Account to such new Certificate
      Distribution Account.

     

    Section
      5.02.  Application
      of Trust Funds.
      

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

    (a)  On
      each
      Distribution Date, the Owner Trustee will distribute amounts deposited in the
      Certificate Distribution Account pursuant to Sections
      5.04
      and
5.05
      of the
      Sale and Servicing Agreement or pursuant to Section
      5.04(b)
      or
5.04(c)
      of the
      Indenture on or before such Distribution Date as follows:

     

    (i)  to
      the
      Certificateholder, to the extent necessary to reduce the Certificate Balance
      of
      the Certificate to zero, an amount equal to the excess if any, of the Regular
      Principal Distribution Amount for such Distribution Date over
      amounts
      distributable to the Noteholders pursuant to Section
      5.04(c)
      of the
      Sale and Servicing Agreement on such Distribution Date; and

     

    (ii)  to
      the
      Depositor, any remaining funds on deposit in the Certificate Distribution
      Account after distribution to the Certificateholder pursuant to the clause
      (i)
      above.

     

    (b)  On
      each
      Distribution Date, the Administrator shall send to the Certificateholder the
      statement provided to the Administrator by the Servicer pursuant to Section 4.09
      of the
      Sale and Servicing Agreement on such Distribution Date.

     

    (c)  In
      the
      event that any withholding tax is imposed on the Trust's payment (or allocations
      of income) to the Certificateholder, such tax shall reduce the amount otherwise
      distributable to the Certificateholder in accordance with this Section. The
      Owner Trustee is hereby authorized and directed to retain from amounts otherwise
      distributable to the Certificateholder sufficient funds for the payment of
      any
      tax that is legally owed or required to be withheld by the Trust (but such
      authorization shall not prevent the Owner Trustee from contesting any such
      tax
      in appropriate proceedings, and withholding payment of such tax, if permitted
      by
      law, pending the outcome of such proceedings). The amount of any withholding
      tax
      imposed with respect to the Certificateholder shall be treated as cash
      distributed to the Certificateholder at the time it is withheld by the Trust
      and
      remitted to the appropriate taxing authority. If there is a possibility that
      withholding tax is payable with respect to a distribution, the Owner Trustee
      may
      in its sole discretion withhold such amounts in accordance with this clause
      (c).
      In the event that the Certificateholder wishes to apply for a refund of any
      such
      withholding tax, the Owner Trustee shall reasonably cooperate with the
      Certificateholder in making such claim so long as the Certificateholder agrees
      to reimburse the Owner Trustee for any out-of-pocket expenses
      incurred.

     

    Section
      5.03.  Method
      of Payment.
      Subject
      to Section 9.01(c),
      distributions required to be made to the Certificateholder on any Distribution
      Date shall be made to the Certificateholder of record on the preceding Record
      Date either by wire transfer, in immediately available funds, to the account
      of
      such Certificateholder at a bank or other entity having appropriate facilities
      therefor, if the Certificateholder shall have provided to the Certificate
      Registrar appropriate written instructions at least five Business Days prior
      to
      such Distribution Date or, if not, by check mailed to the Certificateholder
      at
      the address of such Certificateholder appearing in the Certificate
      Register.

     

    Section
      5.04.  No
      Segregation of Monies; No Interest.
      Subject
      to Section 5.01
      and
5.02,
      monies
      received by the Owner Trustee hereunder need not be segregated in any manner
      except to the extent required by law, this Agreement, or the Sale and Servicing
      Agreement and may be deposited under such general conditions as may be
      prescribed by law, and the Owner Trustee shall not be liable for any interest
      thereon.

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

    Section
      5.05.  Accounting
      and Report to the Noteholders, the Certificateholder, the Internal Revenue
      Service and Others.
      The
      Owner Trustee shall (a) maintain (or cause to be maintained) the books of the
      Trust on a fiscal year basis ending December 31, (or such other period as may
      be
      required by applicable law), with the first year being a short year ending
      December 31, 2006, and on the accrual method of accounting, (b) deliver to
      the
      Certificateholder, as may be required by the Code and applicable Treasury
      Regulations, such information as may be required to enable the Certificateholder
      to prepare its federal and state income tax returns, and make such elections
      as
      may from time to time be required or appropriate under any applicable state
      or
      federal statute or rule or regulation thereunder so as to maintain the Trust's
      characterization as a disregarded entity for federal income tax purposes and
      (c)
      collect or cause to be collected any withholding tax as described in and in
      accordance with Section 5.02(c)
      with
      respect to distributions from the Trust.

     

     

     

    ARTICLE
      VI

     

    AUTHORITY
      AND DUTIES OF OWNER TRUSTEE

     

    Section
      6.01.  General
      Authority.
      The
      Owner Trustee is authorized and directed to execute and deliver the Basic
      Documents to which the Trust is to be a party and each certificate or other
      document attached as an exhibit to or contemplated by the Basic Documents to
      which the Trust is to be a party, or any amendment thereto or other agreement,
      in each case, in such form as the Depositor shall approve as evidenced
      conclusively by the Owner Trustee's execution thereof. In addition to the
      foregoing, the Owner Trustee is authorized, but shall not be obligated, to
      take
      all actions required of the Trust pursuant to the Basic Documents. The Owner
      Trustee is further authorized from time to time to take such action as the
      Administrator directs in writing with respect to the Basic
      Documents.

     

    Section
      6.02.  General
      Duties.
      It
      shall be the duty of the Owner Trustee to discharge (or cause to be discharged)
      all of its responsibilities pursuant to the terms of this Agreement and the
      Basic Documents and to administer the Trust in the interest of the
      Certificateholder, subject to the Basic Documents and in accordance with the
      provisions of this Agreement. Notwithstanding the foregoing, the Owner Trustee
      shall be deemed to have discharged its duties and responsibilities hereunder
      and
      under the Basic Documents to the extent the Administrator has agreed in the
      Administration Agreement to perform any act or to discharge any duty of the
      Owner Trustee hereunder or under any Basic Document, and the Owner Trustee
      shall
      not be liable for the default or failure of the Administrator to carry out
      its
      obligations under the Administration Agreement.

     

    Section
      6.03.  Action
      Upon Instruction.
      

     

    (a)  Subject
      to Article IV,
      the
      Certificateholder may, by written instruction, direct the Owner Trustee in
      the
      management of the Trust. Such direction may be exercised at any time by written
      instruction of the Certificateholder pursuant to Article IV.

     

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

    (b)  The
      Owner
      Trustee shall not be required to take any action hereunder or under any Basic
      Document if the Owner Trustee shall have reasonably determined, or shall have
      been advised by counsel, that such action is likely to result in liability
      on
      the part of the Owner Trustee or is contrary to the terms hereof or of any
      Basic
      Document or is otherwise contrary to law.

     

    (c)  Whenever
      the Owner Trustee is unable to decide between alternative courses of action
      permitted or required by the terms of this Agreement or any Basic Document,
      the
      Owner Trustee shall promptly give notice (in such form as shall be appropriate
      under the circumstances) to the Certificateholder requesting instruction as
      to
      the course of action to be adopted, and to the extent the Owner Trustee acts
      in
      good faith in accordance with any written instruction of the Certificateholder
      received, the Owner Trustee shall not be liable on account of such action to
      any
      Person. If the Owner Trustee shall not have received appropriate instruction
      within 10 days of such notice (or within such shorter period of time as
      reasonably may be specified in such notice or may be necessary under the
      circumstances) it may, but shall be under no duty to, take or refrain from
      taking such action, not inconsistent with this Agreement or the Basic Documents,
      as it shall deem to be in the best interest of the Certificateholder, and shall
      have no liability to any Person for such action or inaction.

     

    (d)  In
      the
      event that the Owner Trustee is unsure as to the application of any provision
      of
      this Agreement or any Basic Document or any such provision is ambiguous as
      to
      its application, or is, or appears to be, in conflict with any other applicable
      provision, or in the event that this Agreement permits any determination by
      the
      Owner Trustee or is silent or is incomplete as to the course of action that
      the
      Owner Trustee is required to take with respect to a particular set of facts,
      the
      Owner Trustee may give notice (in such form as shall be appropriate under the
      circumstances) to the Certificateholder requesting instruction and, to the
      extent that the Owner Trustee acts or refrains from acting in good faith in
      accordance with any such instruction received, the Owner Trustee shall not
      be
      liable, on account of such action or inaction, to any Person. If the Owner
      Trustee shall not have received appropriate instruction within 10 days of such
      notice (or within such shorter period of time as reasonably may be specified
      in
      such notice or may be necessary under the circumstances) it may, but shall
      be
      under no duty to, take or refrain from taking such action, not inconsistent
      with
      this Agreement or the Basic Documents, as it shall deem to be in the best
      interests of the Certificateholder and shall have no liability to any Person
      for
      such action or inaction.

     

    Section
      6.04.  No
      Duties Except as Specified in This Agreement or in Instructions.
      The
      Owner Trustee shall not have any duty or obligation to manage, make any payment
      with respect to, register, record, sell, dispose of, or otherwise deal with
      the
      Owner Trust Estate, or to otherwise take or refrain from taking any action
      under, or in connection with, any document contemplated hereby to which the
      Owner Trustee is a party, except as expressly provided by the terms of this
      Agreement or in any document or written instruction received by the Owner
      Trustee pursuant to Section 6.03;
      and no
      implied duties or obligations shall be read into this Agreement or any Basic
      Document against the Owner Trustee. The Owner Trustee shall have no
      responsibility for filing any financing or continuation statement in any public
      office at any time or to otherwise perfect or maintain the perfection of any
      security interest or lien granted to it hereunder or to prepare or file any
      Commission filing for the Trust or to record this Agreement or any Basic
      Document. The Owner Trustee nevertheless agrees that it will, at its own cost
      and expense, promptly take all action as may be necessary to discharge any
      liens
      on any part of the Owner Trust Estate that result from actions by, or claims
      against, the Owner Trustee that are not related to the ownership or the
      administration of the Owner Trust Estate.

     

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

    

    Section
      6.05.  No
      Action Except under Specified Documents or Instructions.
      The
      Owner Trustee shall not manage, control, use, sell, dispose of or otherwise
      deal
      with any part of the Owner Trust Estate except (i) in accordance with the powers
      granted to and the authority conferred upon the Owner Trustee pursuant to this
      Agreement, (ii) in accordance with the Basic Documents and (iii) in accordance
      with any document or instruction delivered to the Owner Trustee pursuant to
      Section 6.03.

     

    Section
      6.06.  Restrictions.
      The
      Owner Trustee shall not take any action (a) that is inconsistent with the
      purposes of the Trust set forth in Section 2.03
      or (b)
      that, to the actual knowledge of the Owner Trustee, would result in the Trust
      being treated as an association (or publicly traded partnership) taxable as
      a
      corporation for federal income tax purposes. The Owner Trustee and the Depositor
      agree that no election to treat the Trust as an association (or publicly traded
      partnership) taxable as a corporation for United States federal income tax
      purposes or any relevant state tax purposes shall be made by or on behalf of
      the
      Trust. The Certificateholder shall not direct the Owner Trustee or the Depositor
      to take action that would violate the provisions of this Section.

     

     

    ARTICLE
      VII

     

    CONCERNING
      THE OWNER TRUSTEE

     

    Section
      7.01.  Acceptance
      of Trusts and Duties.
      The
      Owner Trustee hereby accepts the trusts hereby created and agrees to perform
      its
      duties hereunder with respect to such trusts but only upon the terms of this
      Agreement. The Owner Trustee also agrees to disburse all monies actually
      received by it constituting part of the Owner Trust Estate upon the terms of
      the
      Basic Documents and this Agreement. The Owner Trustee shall not be answerable
      or
      accountable hereunder or under any Basic Document under any circumstances,
      except (i) for its own willful misconduct or negligence or (ii) in the case
      of
      the inaccuracy of any representation or warranty contained in Section 7.03
      expressly made by the Owner Trustee. In particular, but not by way of limitation
      (and subject to the exceptions set forth in the preceding
      sentence):

     

    (a)  the
      Owner
      Trustee shall not be liable for any error of judgment made by a responsible
      officer of the Owner Trustee;

     

    (b)  the
      Owner
      Trustee shall not be liable with respect to any action taken or omitted to
      be
      taken by it in accordance with the written instructions of the Administrator
      or
      the Certificateholder;

     

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

     

    
      
        
        

      

      
        15

        
          

        

      

      
        
        

      

    

    (d)  under
      no
      circumstances shall the Owner Trustee be liable for indebtedness evidenced
      by or
      arising under any of the Basic Documents, including the principal of and
      interest on the Notes;

     

    (e)  the
      Owner
      Trustee shall not be responsible for or in respect of the validity or
      sufficiency of this Agreement or for the due execution hereof by the Depositor
      or for the form, character, genuineness, sufficiency, value or validity of
      any
      of the Owner Trust Estate or for or in respect of the validity or sufficiency
      of
      the Basic Documents, other than the certificate of authentication on the
      Certificates, and the Owner Trustee shall in no event assume or incur any
      liability, duty, or obligation to any Noteholder or to the Certificateholder,
      other than as expressly provided for herein and in the Basic
      Documents;

     

    (f)  the
      Owner
      Trustee shall not be liable for the default or misconduct of the Administrator,
      the Indenture Trustee or the Servicer under any of the Basic Documents or
      otherwise, and the Owner Trustee shall have no obligation or liability to
      perform the obligations of the Trust under this Agreement or the Basic Documents
      that are required to be performed by the Administrator under the Administration
      Agreement, the Indenture Trustee under the Indenture or the Servicer under
      the
      Sale and Servicing Agreement; and

     

    (g)  the
      Owner
      Trustee shall be under no obligation to exercise any of the rights or powers
      vested in it by this Agreement, or to institute, conduct or defend any
      litigation under this Agreement or otherwise or in relation to this Agreement
      or
      any Basic Document, at the request, order or direction of the Certificateholder,
      unless the Certificateholder has offered to the Owner Trustee security or
      indemnity satisfactory to it against the costs, expenses and liabilities that
      may be incurred by the Owner Trustee therein or thereby. The right of the Owner
      Trustee to perform any discretionary act enumerated in this Agreement or in
      any
      Basic Document shall not be construed as a duty, and the Owner Trustee shall
      not
      be answerable for other than its negligence or willful misconduct in the
      performance of any such act.

     

    Section
      7.02.  Furnishing
      of Documents.
      The
      Owner Trustee shall furnish (a) to the Certificateholder or the Administrator
      promptly upon receipt of a written request therefor, duplicates or copies of
      all
      reports, notices, requests, demands, certificates, financial statements and
      any
      other instruments furnished to the Owner Trustee under the Basic Documents
      and
      (b) to the Indenture Trustee promptly upon written request therefor, copies
      of
      the Purchase Agreement, the Sale and Servicing Agreement, the Administration
      Agreement and the Trust Agreement.

     

    Section
      7.03.  Representations
      and Warranties.
      The
      Owner Trustee hereby represents and warrants to the Certificateholder
      that:

     

    (a)  It
      is a
      banking association duly organized and validly existing in good standing under
      the federal laws of the United States and satisfies the eligibility criteria
      set
      forth in Section 10.01.
      It has
      all requisite corporate power and authority to execute, deliver and perform
      its
      obligations under this Agreement.

     

    (b)  It
      has
      taken all corporate action necessary to authorize the execution and delivery
      by
      it of this Agreement, and this Agreement has been executed and delivered by
      one
      of its officers who is duly authorized to execute and deliver this Agreement
      on
      its behalf.

     

    
      
        
        

      

      
        16

        
          

        

      

      
        
        

      

    

    (c)  Neither
      the execution nor the delivery by it of this Agreement, nor the consummation
      by
      it of the transactions contemplated hereby nor compliance by it with any of
      the
      terms or provisions hereof will contravene any federal or Delaware law,
      governmental rule or regulation governing the banking or trust powers of the
      Owner Trustee or any judgment or order binding on it, or constitute any default
      under its charter documents or by-laws or any indenture, mortgage, contract,
      agreement or instrument to which it is a party or by which any of its properties
      may be bound.

     

    Section
      7.04.  Reliance;
      Advice of Counsel.
      

     

    (a)  The
      Owner
      Trustee shall incur no liability to anyone in acting upon any signature,
      instrument, notice, resolution, request, consent, order, certificate, report,
      opinion, bond, or other document or paper believed by it to be genuine and
      believed by it to be signed by the proper party or parties. The Owner Trustee
      may accept a certified copy of a resolution of the board of directors or other
      governing body of any corporate party as conclusive evidence that such
      resolution has been duly adopted by such body and that the same is in full
      force
      and effect. As to any fact or matter the method of the determination of which
      is
      not specifically prescribed herein, the Owner Trustee may for all purposes
      hereof rely on a certificate, signed by the president or any vice president
      or
      by the treasurer or other authorized officers of the relevant party, as to
      such
      fact or matter, and such certificate shall constitute full protection to the
      Owner Trustee for any action taken or omitted to be taken by it in good faith
      in
      reliance thereon.

     

    (b)  In
      the
      exercise or administration of the trusts hereunder and in the performance of
      its
      duties and obligations under this Agreement or the Basic Documents, the Owner
      Trustee (i) may act directly or through its agents or attorneys pursuant to
      agreements entered into with any of them, and the Owner Trustee shall not be
      liable for the conduct or misconduct of such agents or attorneys if such agents
      or attorneys shall have been selected by the Owner Trustee with reasonable
      care,
      and (ii) may consult with counsel, accountants and other skilled persons to
      be
      selected with reasonable care and employed by it. The Owner Trustee shall not
      be
      liable for anything done, suffered or omitted in good faith by it in accordance
      with the written opinion or advice of any such counsel, accountants or other
      such persons.

     

    Section
      7.05.  Not
      Acting in Individual Capacity.
      Except
      as provided in this Article VII and in Article XII, in accepting the trusts
      hereby created, Chase Bank USA, National Association acts solely as Owner
      Trustee hereunder and not in its individual capacity and all Persons having
      any
      claim against the Owner Trustee by reason of the transactions contemplated
      by
      this Agreement or any Basic Document shall look only to the Owner Trust Estate
      for payment or satisfaction thereof.

     

    Section
      7.06.  Owner
      Trustee Not Liable for the Certificate, Notes or Receivables.
      The
      recitals contained herein and in the Certificate (other than the signature
      and
      counter-signature of the Owner Trustee on the Certificate and its
      representations and warranties in Section 7.03
      and in
      Article XII) shall not be taken as the statements of the Owner Trustee and
      the
      Owner Trustee assumes no responsibility for the correctness thereof. The Owner
      Trustee makes no representations as to the validity or sufficiency of this
      Agreement, or of the Certificate (other than the signature and countersignature
      of the Owner Trustee on the Certificate), or the Notes or of any other Basic
      Document or of any Receivable or related documents. The Owner Trustee shall
      at
      no time have any responsibility or liability for or with respect to the
      legality, validity and enforceability of any Receivable, or the perfection
      and
      priority of any security interest created by any Receivable in any Financed
      Equipment or the maintenance of any such perfection and priority, or for or
      with
      respect to the sufficiency of the Owner Trust Estate or its ability to generate
      the payments to be distributed to the Certificateholder under this Agreement
      or
      the Noteholders under the Indenture, including: the existence, condition and
      ownership of any Financed Equipment; the existence and enforceability of any
      insurance thereon; the existence and contents of any Receivable on any computer
      or other record thereof; the validity of the assignment of any Receivable to
      the
      Trust or of any intervening assignment; the completeness of any Receivable;
      the
      performance or enforcement of any Receivable; the compliance by the Depositor
      or
      the Servicer with any warranty or representation made under any Basic Document
      or in any related document or the accuracy of any such warranty or
      representation or any action of the Administrator, the Indenture Trustee or
      the
      Servicer or any subservicer taken in the name of the Owner Trustee.

     

    
      
        
        

      

      
        17

        
          

        

      

      
        
        

      

    

    Section
      7.07.  Owner
      Trustee May Own the Certificate and Notes.
      The
      Owner Trustee in its individual or any other capacity may become the owner
      or
      pledgee of the Certificate or the Notes and may deal with the Depositor, the
      Administrator, the Indenture Trustee and the Servicer in banking transactions
      with the same rights as it would have if it were not Owner Trustee.

     

      

     

    ARTICLE
      VIII

     

    COMPENSATION
      OF OWNER TRUSTEE

     

    Section
      8.01.  Owner
      Trustee's Fees and Expenses.
      The
      Owner Trustee shall receive as compensation for its services hereunder such
      fees
      as have been separately agreed upon before the date hereof between the Depositor
      and the Owner Trustee, and the Owner Trustee shall be entitled to be reimbursed
      by the Depositor for its other reasonable expenses hereunder, including the
      reasonable compensation, expenses and disbursements of such agents,
      representatives, experts and counsel as the Owner Trustee may employ in
      connection with the exercise and performance of its rights and its duties
      hereunder; provided,
      however,
      that
      the Owner Trustee's right to enforce such obligation shall be subject to the
      provisions of Section 11.08.

     

    Section
      8.02.  Indemnification.
      The
      Depositor shall be liable as primary obligor for, and shall indemnify the Owner
      Trustee and its successors, assigns, agents and servants (collectively, the
      "Indemnified Parties") from and against, any and all liabilities, obligations,
      losses, damages, taxes, claims, actions and suits, and any and all reasonable
      costs, expenses and disbursements (including reasonable legal fees and expenses)
      of any kind and nature whatsoever (collectively, "Expenses") which may at any
      time be imposed on, incurred by, or asserted against the Owner Trustee or any
      Indemnified Party in any way relating to or arising out of this Agreement,
      the
      Basic Documents, the Owner Trust Estate, the administration of the Owner Trust
      Estate or the action or inaction of the Owner Trustee hereunder, except only
      that the Depositor shall not be liable for or required to indemnify the Owner
      Trustee from and against Expenses arising or resulting from any of the matters
      described in the third sentence of Section 7.01;
      provided,
      however,
      that
      the Owner Trustee's right to enforce such obligation shall be subject to the
      provisions of Section 11.08.
      The
      indemnities contained in this Section shall survive the resignation or
      termination of the Owner Trustee or the termination of this Agreement. In any
      event of any claim, action or proceeding for which indemnity will be sought
      pursuant to this Section, the Owner Trustee's choice of legal counsel shall
      be
      subject to the approval of the Depositor, which approval shall not be
      unreasonably withheld.

     

    
      
        
        

      

      
        18

        
          

        

      

      
        
        

      

    

    Section
      8.03.  Payments
      to the Owner Trustee.
      Any
      amounts paid to the Owner Trustee pursuant to this Article VIII shall be deemed
      not to be a part of the Owner Trust Estate immediately after such
      payment.

     

      

     

    ARTICLE
      IX

     

    TERMINATION
      OF TRUST AGREEMENT

     

    Section
      9.01.  Termination
      of Trust Agreement.
      

     

    (a)  This
      Agreement (other than Article VIII and Section
      11.08)
      and the
      Trust shall terminate and be of no further force or effect, upon the final
      distribution by the Owner Trustee of all monies or other property or proceeds
      of
      the Owner Trust Estate in accordance with the terms of the Indenture, the Sale
      and Servicing Agreement and Article V. Any money or other property held as
      part
      of the Owner Trust Estate following such distribution shall be distributed
      to
      the Depositor. The bankruptcy, liquidation, dissolution, death or incapacity
      of
      the Certificateholder shall not (x) operate to terminate this Agreement or
      the
      Trust, or (y) entitle the Certificateholder's legal representatives or heirs
      to
      claim an accounting or to take any action or proceeding in any court for a
      partition or winding up of all or any part of the Trust or Owner Trust Estate
      or
      (z) otherwise affect the rights, obligations and liabilities of the parties
      hereto.

     

    (b)  Neither
      the Depositor nor the Certificateholder shall be entitled to revoke or terminate
      the Trust.

     

    (c)  Notice
      of
      any termination of the Trust, specifying the Distribution Date upon which the
      Certificateholder shall surrender the Certificate to the Paying Agent for
      payment of the final distribution and cancellation, shall be given by the Owner
      Trustee by letter to the Certificateholder mailed within five Business Days
      of
      receipt of notice of such termination from the Servicer given pursuant to
Section 9.01(c)
      of the
      Sale and Servicing Agreement, stating (i) the Distribution Date upon or with
      respect to which final payment of the Certificate shall be made upon
      presentation and surrender of the Certificate at the office of the Paying Agent
      therein designated, (ii) the amount of any such final payment and (iii) that
      the
      Record Date otherwise applicable to such Distribution Date is not applicable,
      payments being made only upon presentation and surrender of the Certificate
      at
      the office of the Paying Agent therein specified. The Owner Trustee shall give
      such notice to the Certificate Registrar (if other than the Owner Trustee)
      and
      the Paying Agent at the time such notice is given to the Certificateholder.
      Upon
      presentation and surrender of the Certificate, the Paying Agent shall cause
      to
      be distributed to the Certificateholder amounts distributable on such
      Distribution Date pursuant to Section 5.02.

     

    
      
        
        

      

      
        19

        
          

        

      

      
        
        

      

    

    In the
      event that the Certificateholder shall not surrender the Certificate for
      cancellation within six months after the date specified in the above mentioned
      written notice, the Owner Trustee shall give a second written notice to the
      Certificateholder to surrender the Certificate for cancellation and receive
      the
      final distribution with respect thereto. If within one year after the second
      notice the Certificate shall not have been surrendered for cancellation, the
      Owner Trustee may take appropriate steps, or may appoint an agent to take
      appropriate steps, to contact the Certificateholder concerning surrender of
      the
      Certificate, and the cost thereof shall be paid out of the funds and other
      assets that shall remain subject to this Agreement. Any funds remaining in
      the
      Trust after exhaustion of such remedies shall be distributed by the Owner
      Trustee to the Depositor.

     

    (d)  Upon
      the
      winding up of the Trust and its termination, the Owner Trustee shall cause
      the
      Certificate of Trust to be canceled by filing a certificate of cancellation
      with
      the Secretary of State in accordance with the provisions of Section 3810 of
      the Statutory Trust Statute.

     

      

     

    ARTICLE
      X

     

    SUCCESSOR
      OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES

     

    Section
      10.01.  Eligibility
      Requirements for Owner Trustee.
      The
      Owner Trustee shall at all times be a corporation satisfying the provisions
      of
      Section 3807(a) of the Statutory Trust Statute; authorized to exercise
      corporate trust powers; having a combined capital and surplus of at least
      $50,000,000 and subject to supervision or examination by federal or state
      authorities; and having (or having a parent which has) a rating of at least
      "Baa3" by Moody's and at least "BBB-" by Standard & Poor's. If such
      corporation shall publish reports of condition at least annually, pursuant
      to
      law or to the requirements of the aforesaid supervising or examining authority,
      then for the purpose of this Section, the combined capital and surplus of such
      corporation shall be deemed to be its combined capital and surplus as set forth
      in its most recent report of condition so published. In case at any time the
      Owner Trustee shall cease to be eligible in accordance with the provisions
      of
      this Section, the Owner Trustee shall resign immediately in the manner and
      with
      the effect specified in Section 10.02.

     

    Section
      10.02.  Resignation
      or Removal of Owner Trustee.
      The
      Owner Trustee may at any time resign and be discharged from the trusts hereby
      created by giving written notice thereof to the Depositor, the Certificateholder
      and the Administrator; provided,
      however,
      that
      such resignation and discharge shall only be effective upon the appointment
      of a
      successor Owner Trustee. Upon receiving such notice of resignation, the
      Administrator shall promptly appoint a successor Owner Trustee by written
      instrument, in duplicate, one copy of which instrument shall be delivered to
      the
      resigning Owner Trustee and one copy to the successor Owner Trustee. If no
      successor Owner Trustee shall have been so appointed and have accepted
      appointment within 30 days after the giving of such notice of resignation,
      the
      resigning Owner Trustee may petition any court of competent jurisdiction for
      the
      appointment of a successor Owner Trustee.

     

    If
      at any
      time the Owner Trustee shall cease to be eligible in accordance with the
      provisions of Section 10.01
      and
      shall fail to resign after written request therefor by the Depositor or the
      Administrator, or if at any time the Owner Trustee shall be legally unable
      to
      act, or shall be adjudged bankrupt or insolvent, or a receiver of the Owner
      Trustee or of its property shall be appointed, or any public officer shall
      take
      charge or control of the Owner Trustee or of its property or affairs for the
      purpose of rehabilitation, conservation or liquidation, then the Depositor
      or
      the Administrator may remove the Owner Trustee. If the Depositor or the
      Administrator shall remove the Owner Trustee under the authority of the
      immediately preceding sentence, the Administrator shall promptly appoint a
      successor Owner Trustee by written instrument, in duplicate, one copy of which
      instrument shall be delivered to the outgoing Owner Trustee so removed and
      one
      copy to the successor Owner Trustee and the Depositor shall pay all fees owed
      to
      the outgoing Owner Trustee.

     

    
      
        
        

      

      
        20

        
          

        

      

      
        
        

      

    

    Any
      resignation or removal of the Owner Trustee and appointment of a successor
      Owner
      Trustee pursuant to any of the provisions of this Section shall not become
      effective until acceptance of appointment by the successor Owner Trustee
      pursuant to Section 10.03
      and
      payment of all fees and expenses owed to the outgoing Owner Trustee. The
      Depositor shall provide notice of such resignation or removal of the Owner
      Trustee to each of the Rating Agencies.

     

    Section
      10.03.  Successor
      Owner Trustee.
      Any
      successor Owner Trustee appointed pursuant to Section 10.02
      shall
      execute, acknowledge and deliver to the Depositor, the Certificateholder and
      to
      its predecessor Owner Trustee, with a copy thereof delivered to the
      Administrator, an instrument accepting such appointment under this Agreement,
      and thereupon the resignation or removal of the predecessor Owner Trustee shall
      become effective and such successor Owner Trustee, without any further act,
      deed
      or conveyance, shall become fully vested with all the rights, powers, duties,
      and obligations of its predecessor under this Agreement, with like effect as
      if
      originally named as Owner Trustee. The predecessor Owner Trustee shall upon
      payment of its fees and expenses deliver to the successor Owner Trustee all
      documents and statements, monies, and other property held by it under this
      Agreement; and the Depositor and the predecessor Owner Trustee shall execute
      and
      deliver such instruments and do such other things as may reasonably be required
      for fully and certainly vesting and confirming in the successor Owner Trustee
      all such rights, powers, duties, and obligations.

     

    No
      successor Owner Trustee shall accept appointment as provided in this
      Section unless at the time of such acceptance such successor Owner Trustee
      shall be eligible pursuant to Section 10.01.

     

    Upon
      acceptance of appointment by a successor Owner Trustee pursuant to this Section,
      the Depositor shall mail notice of the appointment of such successor Owner
      Trustee to the Certificateholder, the Indenture Trustee, the Administrator,
      the
      Noteholders and the Rating Agencies. If the Depositor shall fail to mail such
      notice within 10 days after acceptance of appointment by the successor Owner
      Trustee, the successor Owner Trustee shall cause such notice to be mailed at
      the
      expense of the Depositor.

     

    Section
      10.04.  Merger
      or Consolidation of Owner Trustee.
      Any
      corporation into which the Owner Trustee may be merged or converted or with
      which it may be consolidated, or any corporation resulting from any merger,
      conversion or consolidation to which the Owner Trustee shall be a party, or
      any
      corporation succeeding to all or substantially all of the corporate trust
      business of the Owner Trustee, shall be the successor of the Owner Trustee
      hereunder; provided such corporation shall be eligible pursuant to Section 10.01,
      without
      the execution or filing of any instrument or any further act on the part of
      any
      of the parties hereto; anything herein to the contrary notwithstanding;
provided,
      further,
      that the
      Owner Trustee shall mail notice of such merger or consolidation to the Rating
      Agencies and the Administrator.

     

    
      
        
        

      

      
        21

        
          

        

      

      
        
        

      

    

    Section
      10.05.  Appointment
      of Co-Trustee or Separate Trustee.
      Notwithstanding any other provisions of this Agreement, at any time, for the
      purpose of meeting any legal requirements of any jurisdiction in which any
      part
      of the Owner Trust Estate or any Financed Equipment may at the time be located,
      the Depositor and the Owner Trustee acting jointly shall have the power and
      shall execute and deliver all instruments to appoint one or more Persons
      approved by the Owner Trustee to act as co-trustee, jointly with the Owner
      Trustee, or separate trustee, of all or any part of the Owner Trust Estate,
      and
      to vest in such Person, in such capacity, such title to the Owner Trust Estate,
      or any part thereof, and, subject to the other provisions of this Section,
      such
      powers, duties, obligations, rights and trusts as the Depositor and the Owner
      Trustee may consider necessary or desirable. If the Depositor shall not have
      joined in such appointment within 15 days after the receipt by it of a request
      so to do, the Owner Trustee alone shall have the power to make such appointment.
      No co-trustee or separate trustee under this Agreement shall be required to
      meet
      the terms of eligibility as a successor trustee pursuant to Section 10.01
      and no
      notice of the appointment of any co-trustee or separate trustee shall be
      required pursuant to Section 10.03.

     

    Each
      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 Owner
      Trustee shall be conferred upon and exercised or performed by the Owner 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
      Owner Trustee joining in such act), except to the extent that under any law
      of
      any jurisdiction in which any particular acts are to be performed, the Owner
      Trustee shall be incompetent or unqualified to perform such acts, in which
      event
      such rights, powers, duties, and obligations (including the holding of title
      to
      the Owner Trust Estate 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 Owner Trustee;

     

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

     

    (iii)  the
      Depositor and the Owner Trustee acting jointly may at any time accept the
      resignation of or remove any separate trustee or co-trustee.

     

    Any
      notice, request or other writing given to the Owner 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. 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 Owner Trustee or
      separately, as may be provided therein, subject to all the provisions of this
      Agreement, specifically including every provision of this Agreement relating
      to
      the conduct of, affecting the liability of, or affording protection to, the
      Owner Trustee. Each such instrument shall be filed with the Owner Trustee and
      a
      copy thereof given to the Depositor, the Certificateholder and the
      Administrator.

     

    
      
        
        

      

      
        22

        
          

        

      

      
        
        

      

    

    Any
      separate trustee or co-trustee may at any time appoint the Owner 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
      Owner Trustee, to the extent permitted by law, without the appointment of a
      new
      or successor trustee.

     

      

     

    ARTICLE
      XI

    MISCELLANEOUS

     

    Section
      11.01.  Supplements
      and Amendments.
      This
      Agreement may be amended by the Depositor and the Owner Trustee, with prior
      written notice to the Rating Agencies, without the consent of any of the
      Noteholders or the Certificateholder to cure any ambiguity, to correct or
      supplement any provisions 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 amendment shall not, as evidenced by an Opinion of Counsel, adversely
      affect in any material respect the interests of any Noteholder or the
      Certificateholder or the federal tax characteristics of the Notes.

     

    This
      Agreement may also be amended from time to time by the Depositor and the Owner
      Trustee, with prior written notice to the Rating Agencies, with the consent
      of
      the holders of Notes evidencing not less than a majority of the Outstanding
      Principal Amount of the Notes, 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; 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 Principal Amount of the Notes or the Certificate required to
      consent to any such amendment, without the consent of the holders of all the
      outstanding Notes and the Certificate.

     

    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 Indenture Trustee, the Administrator, and each of the Rating
      Agencies.

     

    It
      shall
      not be necessary for the consent of the Noteholders, the Certificateholder
      or
      the Indenture Trustee 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. The manner of obtaining such
      consents shall be subject to such reasonable requirements as the Owner Trustee
      may prescribe.

     

    
      
        
        

      

      
        23

        
          

        

      

      
        
        

      

    

    No
      amendment to this Agreement shall affect the rights or duties of the
      Administrator without the consent of the Administrator.

     

    Promptly
      after the execution of any amendment to the Certificate of Trust, the Owner
      Trustee shall cause the filing of such amendment with the Secretary of
      State.

     

    Prior
      to
      the execution of any amendment to this Agreement or any other Basic Document,
      the Owner 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 other Basic Documents. The Owner Trustee may, but
      shall not be obligated to, enter into any such amendment which affects the
      Owner
      Trustee's own rights, duties or immunities under this Agreement or
      otherwise.

     

    Section
      11.02.  No
      Legal Title to Owner Trust Estate in the Owner.
      The
      Certificateholder shall not have legal title to any part of the Owner Trust
      Estate. The Certificateholder shall be entitled to receive distributions with
      respect to its ownership interest therein only in accordance with Articles V
      and
IX.
      No
      transfer, by operation of law or otherwise, of any right, title, and interest
      of
      the Certificateholder to and in its ownership interest in the Trust shall
      operate to terminate this Agreement or the trusts hereunder or entitle any
      transferee to an accounting or to the transfer to it of legal title to any
      part
      of the Owner Trust Estate.

     

    Section
      11.03.  Limitations
      on Rights of Others.
      The
      provisions of this Agreement are solely for the benefit of the Owner Trustee,
      the Depositor, the Certificateholder, the Administrator and, to the extent
      expressly provided herein, 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
      11.04.  Notices.
      (a) Unless
      otherwise expressly specified or permitted by the terms hereof, all notices
      shall be in writing and shall be deemed given upon receipt by the intended
      recipient if to the Owner Trustee, addressed to the Corporate Trust Office;
      if
      to the Depositor, addressed to Caterpillar Financial Funding Corporation, 4040
      S. Eastern Avenue, Suite 344, Las Vegas, Nevada 89119; if to the Administrator,
      2120 West End Avenue, Nashville, Tennessee 37203-0001 or, as to each party,
      at
      such other address as shall be designated by such party in a written notice
      to
      each other party.

     

    (b)  Any
      notice required or permitted to be given to the Certificateholder shall be
      given
      by first-class mail, postage prepaid, at the address of such Certificateholder
      as shown in the Certificate Register. Any notice so mailed within the time
      prescribed in this Agreement shall be conclusively presumed to have been duly
      given, whether or not the Certificateholder receives such notice.

     

    Section
      11.05.  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.

     

    
      
        
        

      

      
        24

        
          

        

      

      
        
        

      

    

    Section
      11.06.  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
      11.07.  Successors
      and Assigns.
      All
      covenants and agreements contained herein shall be binding upon, and inure
      to
      the benefit of, the Depositor, the Owner Trustee and its successors and the
      Certificateholder and its successors and permitted assigns, all as herein
      provided. Any request, notice, direction, consent, waiver or other instrument
      or
      action by the Certificateholder shall bind the successors and assigns of the
      Certificateholder.

     

    Section
      11.08.  No
      Petition.
      Notwithstanding any prior termination of this Agreement, the Owner Trustee,
      the
      Certificateholder (to the extent it is not the Depositor), by accepting the
      Certificate, and the Indenture Trustee and each Noteholder by accepting the
      benefits of this Agreement, hereby covenant and agree that they will not, prior
      to the date which is one year and one day after the termination of the Issuing
      Entity, institute against the Depositor or the Issuing Entity, or join in any
      institution against the Depositor or the Issuing Entity of, any bankruptcy,
      reorganization, arrangement, insolvency or liquidation proceedings, or other
      proceedings under any United States federal or state bankruptcy or similar
      law.

     

    Section
      11.09.  No
      Recourse.
      The
      Certificateholder by accepting the Certificate acknowledges that the Certificate
      represents a beneficial interest in the Trust only and does not represent an
      interest in or obligation of the Depositor, the Servicer, the Administrator,
      the
      Owner Trustee, the Indenture Trustee or any Affiliate thereof, and no recourse
      may be had against such parties or their assets, except as may be expressly
      set
      forth or contemplated in this Agreement, the Certificate or the other Basic
      Documents.

     

    Section
      11.10.  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
      11.11.  GOVERNING
      LAW.
      THIS
      AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
      DELAWARE, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS AND THE
      OBLIGATIONS, RIGHTS, AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED
      IN ACCORDANCE WITH SUCH LAWS.

     

    Section
      11.12.  Certificate
      Transfer Restrictions.
      

     

    (a)  The
      Certificate may not be acquired by or for the account of (i) an employee benefit
      plan (as defined in Section 3(3) of the Employee Retirement Income Security
      Act
      of 1974, as amended ("ERISA")), whether or not such plan is subject to the
      provisions of Title I of ERISA, (ii) a plan (as defined in Section 4975(e)(1)
      of
      the Code), whether or not such plan is subject to Section 4975 of the Code,
      or
      (iii) any entity whose underlying assets include "plan assets" by reason of
      any
      such plan's investment in the entity and the application of U.S. Department
      of
      Labor (the "DOL") Regulation Section 2510.3-101 (the "Plan Asset Regulation")
      (excluding any investment company that is registered under the Investment
      Company Act of 1940, as amended) (each, a "Benefit Plan Investor"), except
      as
      provided in the following sentence. By accepting and holding the Certificate,
      the Certificateholder thereof shall be deemed to have represented, warranted
      and
      covenanted that (A) it is not a Benefit Plan Investor, and that no assets of
      any
      Benefit Plan Investor were used to acquire the Certificate, or (B) it is an
      insurance company acting on behalf of its general account, and (i) on the date
      it acquires the Certificate, less than 25% of the assets of such general account
      constitute Plan Assets and (ii) if at any time during any calendar quarter
      after
      the initial acquisition of the Certificate, 25% or more of the assets of such
      general account constitute "plan assets" (as defined in the Plan Asset
      Regulation) and no exemption or exception from the prohibited transaction rules
      applies to the continued holding of the Certificate under Section 401(c) of
      ERISA and final regulations thereunder or an exemption or regulation issued
      by
      the DOL under ERISA, then such insurance company will dispose of the Certificate
      then held in its general account by the end of the next following calendar
      quarter, and shall deliver to the Owner Trustee at the time of acquisition
      of
      the Certificate a duly executed Certificateholder Certification in the form
      set
      forth in Exhibit
      C.

     

    
      
        
        

      

      
        25

        
          

        

      

      
        
        

      

    

    (b)  The
      Certificate may not be acquired by or for the account of an individual or entity
      that is not a U.S. person as defined in Section 7701(a)(30) of the Code. By
      accepting and holding the Certificate, the Certificateholder shall be deemed
      to
      have represented and warranted under penalties of perjury that it (or, if it
      is
      acting as a nominee, the beneficial owner) is a U.S. person and shall deliver
      to
      the Owner Trustee, at the time of acquisition of the Certificate and thereafter
      from time to time upon request, a duly executed Certificateholder Certification
      in the form set forth in Exhibit C.

     

    Section
      11.13.  Depositor
      Payment Obligation.
      The
      Depositor shall be responsible for payment of the Administrator's fees under
      the
      Administration Agreement (to the extent not paid pursuant to Section 5.04
      of the
      Sale and Servicing Agreement) and shall reimburse the Administrator for all
      expenses and liabilities of the Administrator incurred thereunder.

     

      

     

    ARTICLE
      XII

    REGULATION
      AB COMPLIANCE

     

    Section
      12.01.  Intent
      of the Parties; Reasonableness.
      The
      Depositor and the Owner Trustee acknowledge and agree that the purpose of this
      Article XII is to facilitate compliance by the Issuing Entity and the Depositor
      with the provisions of Regulation AB and related rules and regulations of the
      Commission. Neither the Issuing Entity nor the Depositor shall exercise its
      right to request delivery of information or other performance under these
      provisions other than in good faith, or for purposes other than compliance
      with
      the Securities Act, the Exchange Act and the rules and regulations of the
      Commission under the Securities Act and the Exchange Act. 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
      requests made by the Depositor in good faith for delivery of information under
      these provisions on the basis of evolving interpretations of Regulation AB.
      The
      Owner Trustee shall cooperate fully with the Issuing Entity and the Depositor
      to
      deliver to the Issuing Entity and the Depositor any and all statements, reports,
      certifications, records and any other information necessary in the good faith
      determination of the Issuing Entity or the Depositor to permit the Issuing
      Entity or the Depositor to comply with the provisions of Regulation AB, together
      with such disclosures relating to the Owner Trustee and the Notes reasonably
      believed by the Issuing Entity or the Depositor to be necessary in order to
      effect such compliance.

     

    
      
        
        

      

      
        26

        
          

        

      

      
        
        

      

    

    Section
      12.02.  Additional
      Representation and Warranty of the Owner Trustee.
      The
      Owner Trustee hereby represents and warrants to the Issuing Entity and to the
      Depositor that the information set forth under the caption "Formation of the
      Issuing Entity - The Owner Trustee" in the Preliminary Prospectus Supplement
      dated June 19, 2006 and the final Prospectus Supplement dated June 20, 2006
      relating to the Notes (i) does not contain any untrue statement of a material
      fact or omit to state a material fact required to be stated therein or necessary
      in order to make the statements therein, in the light of the circumstances
      under
      which they were made, not misleading and (ii) includes all information required
      to be included therein with respect to the Owner Trustee under Regulation
      AB.

     

    Section
      12.03.  Information
      to Be Provided by the Owner Trustee.
      For the
      purpose of satisfying the reporting obligations of the Issuing Entity under
      the
      Exchange Act with respect to the Notes, for so long as the Issuing Entity is
      required to file reports under the Exchange Act with respect to the Notes,
      the
      Owner Trustee shall (i) notify the Issuing Entity and the Depositor in writing
      of (A) any material litigation or governmental proceedings pending against
      the
      Owner Trustee, (B) any affiliations or relationships that develop following
      the date hereof between the Owner Trustee and any Transaction Party that are
      required to be disclosed under Item 1119(a) of Regulation AB, and (C) any change
      in control or sale of substantially all the assets of the Owner Trustee, and
      (ii) provide to the Issuing Entity and the Depositor a written description
      of
      such litigation proceedings, affiliations, relationships or corporate
      changes.

     

    [Signature
      Page Follows]

    

     

    
      
        
           

        

        
        

      

      
        27

        
          

        

      

      
        
        

        
          

        

      

    

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

     

    CHASE
      BANK USA, NATIONAL 

    ASSOCIATION,

     not
      in its individual capacity but solely as 

     Owner
      Trustee,

     

    By:
      /s/
      Diane P. Ledger  

    Name: Diane
      P.
      Ledger

    Title: Assistant
      Vice President

     

    CATERPILLAR
      FINANCIAL FUNDING 

    CORPORATION,
      as Depositor,

     

    By:
      /s/
      James A. Duensing

    Name: James
      A.
      Duensing

    Title: Treasurer

    

     

    
      
        
          Amended
            and Restated Trust Agreement

           

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    EXHIBIT
      A

     

    

     

    FORM
      OF CERTIFICATE

     

    NUMBER                                                                                                                                                                                           
       $[___________]

    R-1

     

    SEE
      REVERSE FOR CERTAIN DEFINITIONS

     

    THIS
      CERTIFICATE IS ONLY TRANSFERABLE IN WHOLE

    AND
      IS
      SUBJECT TO RESTRICTIONS ON TRANSFER

    SET
      FORTH
      IN THE TRUST AGREEMENT

     

    THIS
      CERTIFICATE HAS NOT BEEN REGISTERED AND WILL NOT BE REGISTERED UNDER THE UNITED
      STATES SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), AND MAY NOT
      BE
      OFFERED, SOLD OR DELIVERED UNLESS PURSUANT TO AN EFFECTIVE REGISTRATION
      STATEMENT OR PURSUANT TO AN EXEMPTION FROM THE SECURITIES ACT.

     

    THIS
      CERTIFICATE MAY NOT BE ACQUIRED BY OR FOR THE ACCOUNT OF (i) AN EMPLOYEE BENEFIT
      PLAN (AS DEFINED IN SECTION 3(3) OF THE EMPLOYEE RETIREMENT INCOME SECURITY
      ACT
      OF 1974, AS AMENDED ("ERISA")), WHETHER OR NOT SUCH PLAN IS SUBJECT TO THE
      PROVISIONS OF TITLE I OF ERISA, (ii) A PLAN (AS DEFINED IN SECTION 4975(e)(1)
      OF
      THE CODE),
      WHETHER
      OR NOT SUCH PLAN IS SUBJECT
      TO SECTION 4975 OF THE CODE, OR (iii) ANY ENTITY WHOSE UNDERLYING ASSETS INCLUDE
      "PLAN ASSETS" BY REASON OF ANY SUCH PLAN'S INVESTMENT IN THE ENTITY AND THE
      APPLICATION OF U.S. DEPARTMENT OF LABOR (THE "DOL") REGULATION SECTION
      2510.3-101 (THE "PLAN ASSET REGULATION") (EXCLUDING ANY INVESTMENT COMPANY
      THAT
      IS REGISTERED UNDER THE INVESTMENT COMPANY ACT OF 1940, AS AMENDED) (EACH,
      A
      "BENEFIT PLAN INVESTOR"), EXCEPT AS PROVIDED IN THE FOLLOWING SENTENCE. BY
      ACCEPTING AND HOLDING THIS CERTIFICATE, THE HOLDER THEREOF SHALL BE DEEMED
      TO
      HAVE REPRESENTED, WARRANTED AND COVENANTED THAT (A) IT IS NOT A BENEFIT PLAN
      INVESTOR, AND THAT NO ASSETS OF ANY BENEFIT PLAN INVESTOR WERE USED TO ACQUIRE
      THIS CERTIFICATE, OR (B) IT IS AN INSURANCE COMPANY ACTING ON BEHALF OF ITS
      GENERAL ACCOUNT, AND (i) ON THE DATE IT ACQUIRES THIS CERTIFICATE, LESS THAN
      25%
      OF THE ASSETS OF SUCH GENERAL ACCOUNT CONSTITUTE PLAN ASSETS AND (ii) IF AT
      ANY
      TIME DURING ANY CALENDAR QUARTER AFTER THE INITIAL ACQUISITION OF THIS
      CERTIFICATE, 25% OR MORE OF THE ASSETS OF SUCH GENERAL ACCOUNT CONSTITUTE "PLAN
      ASSETS" (AS DEFINED IN THE PLAN ASSET REGULATION) AND NO EXEMPTION OR EXCEPTION
      FROM THE PROHIBITED TRANSACTION RULES APPLIES TO THE CONTINUED HOLDING OF THIS
      CERTIFICATE UNDER SECTION 401(c) OF ERISA AND FINAL REGULATIONS THEREUNDER
      OR AN
      EXEMPTION OR REGULATION ISSUED BY THE DOL UNDER ERISA, THEN SUCH INSURANCE
      COMPANY WILL DISPOSE OF THIS CERTIFICATE BY THE END OF THE NEXT FOLLOWING
      CALENDAR QUARTER, AND SHALL DELIVER TO THE OWNER TRUSTEE AT THE TIME OF
      ACQUISITION OF THIS CERTIFICATE A DULY EXECUTED CERTIFICATEHOLDER CERTIFICATION
      IN THE FORM SET FORTH IN EXHIBIT C TO THE TRUST AGREEMENT REFERRED TO
      HEREIN.

     

    
      
        
        

      

      
        A-1

        
          

        

      

      
        
        

      

    

    THIS
      CERTIFICATE MAY NOT BE ACQUIRED BY OR FOR THE ACCOUNT OF AN INDIVIDUAL OR ENTITY
      THAT IS NOT A U.S. PERSON AS DEFINED IN SECTION 7701(a)(30) OF THE CODE. BY
      ACCEPTING AND HOLDING THIS CERTIFICATE, THE HOLDER SHALL BE DEEMED TO HAVE
      REPRESENTED AND WARRANTED THAT IT (OR, IF IT IS ACTING AS A NOMINEE, THE
      BENEFICIAL OWNER) IS A U.S. PERSON AND SHALL DELIVER TO THE OWNER TRUSTEE,
      AT
      THE TIME OF ACQUISITION OF THIS CERTIFICATE AND THEREAFTER FROM TIME TO TIME
      UPON REQUEST, A DULY EXECUTED CERTIFICATION IN THE FORM SET FORTH IN EXHIBIT
      C
      TO THE TRUST AGREEMENT.

     

    THE
      CERTIFICATE BALANCE OF THIS CERTIFICATE IS DISTRIBUTABLE IN INSTALLMENTS AS
      SET
      FORTH IN THE TRUST AGREEMENT. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE
      OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE
      HEREOF.

     

    
      
         

        
        

      

      
        A-2

        
          

        

      

      
        
        

      

    

    CATERPILLAR
      FINANCIAL ASSET TRUST 2006-A

     

    ASSET
      BACKED CERTIFICATE

     

    evidencing
      an undivided beneficial interest in the Trust, as defined below, the property
      of
      which includes a pool of retail installment sale contracts and finance leases
      secured by new and used machinery and certain monies due or received thereunder
      and sold to the Trust (as defined below) by Caterpillar Financial Funding
      Corporation.

     

    (This
      Certificate does not represent an interest in or obligation of Caterpillar
      Financial Funding Corporation, Caterpillar Financial Services Corporation,
      Caterpillar Inc. or any of their respective affiliates, except to the extent
      described below.)

     

    THIS
      CERTIFIES THAT ______________________________________ is the registered holder
      of ______________________________________ DOLLARS ($___________) nonassessable,
      fully-paid, undivided beneficial interest in Caterpillar Financial Asset Trust
      2006-A (the "Trust") formed by Caterpillar Financial Funding Corporation, a
      Nevada corporation (the "Depositor").

     

    The
      Trust
      was created in connection with an Amended and Restated Trust Agreement, dated
      as
      of June 28, 2006 (the "Trust Agreement"), between the Depositor and Chase Bank
      USA, National Association, as trustee (the "Owner Trustee"), a summary of
      certain of the pertinent provisions of which is set forth below. To the extent
      not otherwise defined herein, the capitalized terms used herein have the
      meanings assigned to them in the Trust Agreement or the Sale and Servicing
      Agreement, dated as of June 1, 2006 (the "Sale and Servicing Agreement"), among
      the Trust, the Depositor and Caterpillar Financial Services Corporation, as
      servicer (the "Servicer"), as applicable.

     

    This
      Certificate is the duly authorized Certificate designated as the "Asset Backed
      Certificate" (herein called the "Certificate"). Also issued under the Indenture,
      dated as of June 1, 2006, between the Trust and U.S. Bank National Association,
      as trustee (the "Indenture Trustee"), are Notes designated as "Class A-1
      5.45498% Asset Backed Notes" (the "Class A-1 Notes"), "Class A-2 5.59% Asset
      Backed Notes" (the "Class A-2 Notes"), "Class A-3 5.57% Asset Backed Notes"
      (the
      "Class A-3 Notes"), "Class A-4 5.62% Asset Backed Notes" (the "Class A-4 Notes")
      and "Class B 5.71% Asset Backed Notes" (the "Class B Notes"; together with
      the
      Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes and the Class A-4
      Notes, the "Notes"). This Certificate is issued under and is subject to the
      terms, provisions and conditions of the Trust Agreement, to which Trust
      Agreement the holder of this Certificate by virtue of the acceptance hereof
      assents and by which such holder is bound. The property of the Trust includes
      a
      pool of retail installment sale contracts and finance leases secured by new
      and
      used equipment (the "Receivables"), all monies received on or after June 1,
      2006
      from payments on the Receivables, security interests in the equipment financed
      thereby and certain other cross-collateralized equipment, certain bank accounts
      and the proceeds thereof, proceeds from claims on certain insurance policies
      and
      certain other rights under the Trust Agreement and the Sale and Servicing
      Agreement, all right, title, and interest of the Depositor in and to the
      Purchase Agreement dated as of June 1, 2006 between Caterpillar Financial
      Services Corporation and the Depositor and all proceeds of the foregoing. The
      holder of this Certificate acknowledges and agrees that its rights to receive
      distributions in respect of this Certificate are subordinated to the rights
      of
      the Noteholders as described in the Sale and Servicing Agreement and the
      Indenture.

     

    
      
        
        

      

      
        A-3

        
          

        

      

      
        
        

      

    

    Under
      the
      Trust Agreement, there will be distributed on the 25th day of each month or,
      if
      such day is not a Business Day, the next Business Day (the "Distribution Date"),
      commencing on July 25, 2006 to the Person in whose name this Certificate is
      registered at the close of business on the last calendar day of the month
      preceding the month in which such Distribution Date occurs (the "Record Date")
      the amount to be distributed to the Certificateholder on such Distribution
      Date.

     

    Notwithstanding
      any prior termination of the Trust Agreement, the Certificateholder (to the
      extent it is not the Depositor), by its acceptance of this Certificate,
      covenants and agrees that it shall not, prior to the date which is one year
      and
      one day after the termination of the Trust, institute against the Depositor
      or
      the Issuing Entity, or join in any institution against the Depositor or the
      Issuing Entity of, any bankruptcy, reorganization, arrangement, insolvency
      or
      liquidation proceedings, or other proceedings under any United States federal
      or
      state bankruptcy or similar law.

     

    Distributions
      on this Certificate will be made as provided in the Trust Agreement by the
      Owner
      Trustee by wire transfer or check mailed to the Certificateholder of record
      in
      the Certificate Register without the presentation or surrender of this
      Certificate or the making of any notation hereon. Except as otherwise provided
      in the Trust Agreement and notwithstanding the above, the final distribution
      on
      this Certificate will be made after due notice by the Owner Trustee of the
      pendency of such distribution and only upon presentation and surrender of this
      Certificate at the office or agency maintained for the purpose by the Owner
      Trustee in the Borough of Manhattan, The City of New York.

     

    This
      Certificate does not represent an obligation of, or an interest in, the
      Depositor, the Servicer, Caterpillar Inc., Caterpillar Financial Services
      Corporation, the Owner Trustee or any Affiliates of any of them and no recourse
      may be had against such parties or their assets, except as may be expressly
      set
      forth or contemplated herein or in the Trust Agreement or the Basic Documents.
      In addition, this Certificate is not guaranteed by any governmental agency
      or
      instrumentality and is limited in right of payment to certain collections with
      respect to the Receivables (and certain other amounts), all as more specifically
      set forth herein and in the Sale and Servicing Agreement and the Trust
      Agreement. A copy of each of the Sale and Servicing Agreement and the Trust
      Agreement may be examined during normal business hours at the principal office
      of the Depositor, and at such other places, if any, designated by the Depositor,
      by the Certificateholder upon written request.

     

    The
      Trust
      Agreement permits, with certain exceptions therein provided, the amendment
      thereof and the modification of the rights and obligations of the Depositor
      and
      the Owner Trustee and the rights of the Certificateholder under the Trust
      Agreement at any time by the Depositor and the Owner Trustee with the consent
      of
      the holders of the Notes evidencing a majority of the outstanding Notes.

     

    As
      provided in the Trust Agreement and subject to certain limitations therein
      set
      forth, the transfer of this Certificate is registerable in the Certificate
      Register upon surrender of this Certificate for registration of transfer at
      the
      offices or agencies of the Certificate Registrar maintained by the Owner Trustee
      in the Borough of Manhattan, in the City of New York, accompanied by a written
      instrument of transfer in form satisfactory to the Owner Trustee and the
      Certificate Registrar duly executed by the holder hereof or such holder's
      attorney duly authorized in writing and a duly executed Certificateholder
      Certification of the transferee thereof, and thereupon one or more new
      Certificates of authorized denominations evidencing the same aggregate
      beneficial interest in the Trust will be issued to the designated transferee.
      No
      service charge will be made for any such registration of transfer, but the
      Owner
      Trustee or the Certificate Registrar may require payment of a sum sufficient
      to
      cover any tax or governmental charge payable in connection therewith. The
      initial Certificate Registrar appointed under the Trust Agreement is JPMorgan
      Chase Bank, N.A., New York, New York.

     

    
      
        
        

      

      
        A-4

        
          

        

      

      
        
        

      

    

    The
      Owner
      Trustee, the Certificate Registrar and any agent of the Owner Trustee or the
      Certificate Registrar may treat the Person in whose name this Certificate is
      registered as the owner hereof for all purposes, and none of the Owner Trustee,
      the Certificate Registrar or any such agent shall be affected by any notice
      to
      the contrary.

     

    The
      obligations and responsibilities created by the Trust Agreement and the Trust
      created thereby shall terminate upon the payment to the Certificateholder of
      all
      amounts required to be paid to it pursuant to the Trust Agreement and the Sale
      and Servicing Agreement and the disposition of all property held as part of
      the
      Trust. The Servicer of the Receivables may at its option purchase the corpus
      of
      the Trust at a price specified in the Sale and Servicing Agreement, and such
      purchase of the Receivables and other property of the Trust will effect early
      retirement of the Certificate; provided,
      however,
      such
      right of purchase is exercisable only on any Distribution Date on which the
      Note
      Value is 10% or less of the Initial Note Value.

     

    This
      Certificate may not be acquired by or for the account of (i) an employee benefit
      plan (as defined in Section 3(3) of the Employee Retirement Income Security
      Act
      of 1974, as amended ("ERISA")), whether or not such plan is subject to the
      provisions of Title I of ERISA, (ii) a plan (as defined in Section 4975(e)(1)
      of
      the Code), whether or not such plan is subject to Section 4975 of the Code,
      or
      (iii) any entity whose underlying assets include "plan assets" by reason of
      any
      such plan's investment in the entity and the application of U.S. Department
      of
      Labor (the "DOL") Regulation Section 2510.3-101 (the "Plan Asset Regulation")
      (excluding any investment company that is registered under the Investment
      Company Act of 1940, as amended) (each, a "Benefit Plan Investor"), except
      as
      provided in the following sentence. By accepting and holding this Certificate,
      the holder thereof shall be deemed to have represented, warranted and covenanted
      that (A) it is not a Benefit Plan Investor, and that no assets of any Benefit
      Plan Investor were used to acquire this Certificate, or (B) it is an insurance
      company acting on behalf of its general account, and (i) on the date it acquires
      this Certificate, less than 25% of the assets of such general account constitute
      Plan Assets and (ii) if at any time during any calendar quarter after the
      initial acquisition of this Certificate, 25% or more of the assets of such
      general account constitute "plan assets" (as defined in the Plan Asset
      Regulation) and no exemption or exception from the prohibited transaction rules
      applies to the continued holding of this Certificate under Section 401(c) of
      ERISA and final regulations thereunder or an exemption or regulation issued
      by
      the DOL under ERISA, then such insurance company will dispose of this
      Certificate by the end of the next following calendar quarter, and shall deliver
      to the Owner Trustee at the time of acquisition of this Certificate a duly
      executed Certificateholder Certification in the form set forth in Exhibit
      C
      to the
      Trust Agreement.

     

    
      
        
        

      

      
        A-5

        
          

        

      

      
        
        

      

    

    This
      Certificate may not be acquired by or for the account of an individual or entity
      that is not a U.S. person as defined in Section 7701(a)(30) of the Code. By
      accepting and holding this Certificate, the holder shall be deemed to have
      represented and warranted under penalties of perjury that it (or, if it is
      acting as a nominee, the beneficial owner) is a U.S. person and shall deliver
      to
      the Owner Trustee, at the time of acquisition of this Certificate and thereafter
      from time to time upon request, a duly executed Certificateholder Certification
      in the form set forth in Exhibit
      C
      to the
      Trust Agreement.

     

    Unless
      the certificate of authentication hereon shall have been executed by an
      authorized officer of the Owner Trustee, by manual signature, this Certificate
      shall not entitle the holder hereof to any benefit under the Trust Agreement
      or
      the Sale and Servicing Agreement or be valid for any purpose.

     

    THIS
      CERTIFICATE SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
      DELAWARE.

     

    
      
         

        
        

      

      
        A-6

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the Trust has caused this Certificate to be duly
      executed.

     

    CATERPILLAR
      FINANCIAL ASSET TRUST 2006-A,

     

    By:
      CHASE
      BANK USA, NATIONAL ASSOCIATION, as Owner Trustee

     

    Dated:
      __________                                                                    
By:___________________________________________

                                                                                                                  
      Name:

                                                                                                                  
      Title:

     

    CERTIFICATE
      OF AUTHENTICATION

     

    This
      is
      the Certificate referred to in the within-mentioned Trust
      Agreement.

     

    
      	
              CHASE
                BANK USA, NATIONAL ASSOCIATION, as Owner Trustee

            	
              or

            	
              CHASE
                BANK USA, NATIONAL ASSOCIATION, as Owner Trustee

            
	 	 	
              By JPMORGAN
                CHASE
                BANK, N.A., as Authenticating Agent

               

            
	
              By:_______________________________________

                                    
                Authorized
                Signatory

            	 	
              By:_______________________________________

              Authorized
                Signatory

            

    

    

     

    
      
         

        
        

      

      
        
          A-7

           

        

        
          

        

      

      
        
        

      

    

    ASSIGNMENT

     

    FOR
      VALUE
      RECEIVED the undersigned hereby sells, assigns and transfers unto

     

    PLEASE
      INSERT SOCIAL SECURITY

    OR
      OTHER
      IDENTIFYING NUMBER

    OF
      ASSIGNEE

     

    

     

    ____________________________________________________________________________

    (Please
      print or type name and address, including postal zip code, of
      assignee)

     

    

     

    ____________________________________________________________________________

    the
      within Certificate, and all rights thereunder, hereby irrevocably constituting
      and appointing

     

    ______________________________________________________
      attorney to transfer said Certificate on the books of the Certificate Register,
      with full power of substitution in the premises.

     

    

     

    

     

    Dated:                                                                                  
      _________________________________________*

    Signature
      Guaranteed:

     

    

     

    _________________________________________*

     

    

     

    ____________________

     

    * NOTICE:
      The signature to this assignment must correspond with the name as it appears
      upon the face of the within Certificate in every particular, without alteration,
      enlargement or any change whatever.

     

    

    
      
        
           

        

        
        

      

      
        A-8

        
          

        

      

      
        
        

        
          

        

      

    

    EXHIBIT
      B

     

    

     

    CERTIFICATE
      OF TRUST OF

    CATERPILLAR
      FINANCIAL ASSET TRUST 2006-A

     

    THIS
      Certificate of Trust of Caterpillar Financial Asset Trust 2006-A (the "Trust")
      is being duly executed and filed on behalf of the Trust by the undersigned,
      as
      trustee, to form a statutory trust under the Delaware Statutory Trust Act (12
      Del. C. § 3801 et seq.) (the "Act").

     

    Name.
      The
      name of the statutory trust formed by this Certificate of Trust is Caterpillar
      Financial Asset Trust 2006-A.

     

    Delaware
      Trustee. The name and business address of the trustee of the Trust in the State
      of Delaware are Chase Bank USA, National Association, c/o JPMorgan Chase, N.A.,
      500 Stanton Christiana Road, OPS4, 3rd Floor, Newark, Delaware 19713 Attention:
      Institutional Trust Services.

     

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

     

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

     

     

    CHASE
      BANK USA, NATIONAL 

    ASSOCIATION,
      not in its individual capacity but 

    solely
      as
      Trustee

     

    By:_________________________________

                                                                                                   
      Name: 

                                                                                                   
      Title: 

    

     

    
      
        
           

        

        
        

      

      
        B-1

        
          

        

      

      
        
        

        
          

        

      

    

    EXHIBIT
      C

     

    

     

    CERTIFICATEHOLDER
      CERTIFICATION

     

    This
      Certificateholder Certification ("Certification") is delivered pursuant to
      Section
      11.12(b)
      of
      Caterpillar Financial Asset Trust 2006-A Amended and Restated Trust Agreement,
      dated as of June 28, 2006 (the "Trust Agreement"), between Caterpillar Financial
      Funding Corporation and Chase Bank USA, National Association, as Owner Trustee,
      in connection with the acquisition of, transfer to or possession by the
      undersigned, whether as beneficial owner (the "Beneficial Owner"), or nominee
      on
      behalf of the Beneficial Owner, of the Caterpillar Financial Asset Trust 2006-A
      Asset Backed Certificate (the "Certificate"). Capitalized terms used but not
      defined in this Certification have the respective meanings given them in the
      Trust Agreement.

     

    The
      holder must complete Part I, Part II (if the holder is a nominee), and in all
      cases sign and otherwise complete Part III of Section A.

     

    Section
      A.
      To
      confirm to the Trust that the provisions of Section 1446 of the Internal Revenue
      Code (relating to withholding tax on foreign partners) do not apply in respect
      of the Certificate held by the undersigned, the undersigned hereby
      certifies:

     

    Part
      I -
      Complete Either A or B

     

    A. Individual
      as Beneficial Owner

     

    
      	 	
              1.

            	
              I
                am (The Beneficial Owner is) not a non-resident alien for purposes
                of U.S.
                income taxation;

            

    

     

    
      	 	
              2.

            	
              My
                (The Beneficial Owner's) name and home address
                are

            

    

     

    _____________________________________________

     

    _____________________________________________

     

    _____________________________________________;
      and

     

    
      	 	
              3.

            	
              My
                (The Beneficial Owner's) U.S. taxpayer identification number (Social
                Security Number) is
                ______________________.

            

    

     

    B. Corporate,
      Partnership or other Entity as Beneficial Owner

     

    
      	 	
              1.

            	
              ________________________________
                (Name of the Beneficial Owner) is not a foreign corporation, foreign
                partnership, foreign trust or foreign estate (as those terms are
                defined
                in the Code and Treasury
                regulations);

            

    

     

    
      
         

        
        

      

      
        C-1

        
          

        

      

      
        
        

      

    

    
      	 	
              2.

            	
              The
                Beneficial Owner's office address and place of incorporation (if
                applicable) is
                _________________________________________

            

    

     

    _________________________________________;
      and

     

    
      	 	
              3.

            	
              The
                Beneficial Owner's U.S. employer identification number (Social Security
                Number) is _______________.

            

    

     

    Part
      II -
      Nominees

     

    If
      the
      undersigned is the nominee for the Beneficial Owner, the undersigned certifies
      that this Certification has been made in reliance upon information contained
      in:

     

    _________
      an IRS Form W-9

     

    _________
      a form such as this or substantially similar

     

    provided
      to the undersigned by an appropriate person and (i) the undersigned agrees
      to
      notify the Trust at least thirty (30) days prior to the date that the form
      relied upon becomes obsolete, and (ii) in connection with change in Beneficial
      Owners, the undersigned agrees to submit a new Certification of Non-Foreign
      Status to the Trust promptly after such change.

     

    Part
      III
      - Declaration

     

    The
      undersigned, as the Beneficial Owner or a nominee thereof, agrees to notify
      the
      Trust within sixty (60) days of the date that the Beneficial Owner becomes
      a
      foreign person. The undersigned understands that this Certification may be
      disclosed to the Internal Revenue Service by the Trust and any false statement
      contained therein could be punishable by fines, imprisonment or
      both.

     

    
      
         

        
        

      

      
        
          C-2

        

        
          

        

      

      
        
        

      

    

    Under
      penalty of perjury, I declare that I have examined this Certification and to
      the
      best of my knowledge and belief it is true, correct and complete and, if
      applicable, I further declare that I have the authority* to sign this
      document

     

    ________________________________________________________________

                                                                 
      Name

     

    ________________________________________________________________

                                                                 
      Title
      (if
      applicable)

     

    ________________________________________________________________

                                                                 
      Signature
      and Date

     

    

     

    *NOTE: If
      signed
      pursuant to a power of attorney, the power of attorney must accompany this
      Certification.

     

    

    THE
      CERTIFICATION CONTAINED IN THIS SECTION A WILL BECOME OBSOLETE AT THE END OF
      THE
      THIRD YEAR AFTER THE TAXABLE YEAR OF THE TRUST DURING WHICH THIS CERTIFICATION
      IS DELIVERED TO THE TRUST.

     

    Section
      B. 
      The undersigned hereby certifies that (check one):

                 
      1.     o  
      no assets of any Benefit Plan
      Investor were used to acquire the Certificate.
       

    

    
                                  
        OR

                   
        2.     o   I
        am
        an insurance company, acting on behalf of my general account,
        and

    

     

    a. on
      the
      date I acquired the Certificate, less than 25% of the assets of my general
      account constituted Plan Assets, and 

     

    b. if,
      at
      any time during any calendar quarter after the initial acquisition of the
      Certificate, 25% or more of the assets of such general account constitute "plan
      assets" (as defined in the Plan Asset Regulation) and no exemption or exception
      from the prohibited transaction rules applies to the continued holding of the
      Certificate under Section 401(c) of ERISA and final regulations thereunder
      or an
      exemption or regulation issued by the DOL under ERISA, then I will dispose
      of
      the Certificate then held in my general account by the end of the next following
      calendar quarter and shall deliver to the Owner Trustee at the time of
      acquisition of the Certificate a duly executed Certificateholder Certification
      in the form set forth in this exhibit.

     

    I
      declare
      that I have examined this Certification and to the best of my knowledge and
      belief it is true, correct and complete and, if applicable, I further declare
      that I have the authority* to sign this document

     

    ________________________________________________________________

    Name

     

    ________________________________________________________________

    Title
      (if
      applicable)

     

    ________________________________________________________________

    Signature
      and Date

     

    *NOTE: If
      signed
      pursuant to a power of attorney, the power of attorney must accompany this
      Certification.

     

    

    
      
        
        

      

      
        
          C-3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00106-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00106-of-00352.parquet"}]]