Document:

Exhibit 4.1

 

Execution Version

 

INSTRUMENT OF RESIGNATION,
APPOINTMENT AND ACCEPTANCE (this “Agreement”), dated as of December 2, 2015, by and among GE EQUIPMENT TRANSPORTATION
LLC, SERIES 2012-2, a Delaware limited liability company (the “Issuer”), GENERAL ELECTRIC CAPITAL LLC, a Delaware
limited liability company (formerly known as General Electric Capital Corporation) (the “Resigning Administrator”),
and GE CAPITAL US HOLDINGS, INC., a Delaware corporation (the “Successor Administrator”).

 

RECITALS

 

WHEREAS, Issuer and Resigning
Administrator are parties to an Administration Agreement dated as of October 24, 2012 (the “Administration Agreement”);
and

 

WHEREAS, the Resigning Administrator
wishes to resign as Administrator under the Administration Agreement; the Issuer wishes to appoint the Successor Administrator
to succeed the Resigning Administrator as Administrator under the Administration Agreement; and the Successor Administrator wishes
to accept appointment as Administrator under the Administration Agreement.

 

NOW, THEREFORE, in consideration
of the mutual covenants and promises herein, the receipt and sufficiency of which is hereby acknowledged, the Issuer, the Resigning
Administrator and the Successor Administrator agree as follows:

 

ARTICLE ONE

THE RESIGNING ADMINISTRATOR

 

Section 1.          Definitions.
Capitalized terms used in this Agreement and not otherwise defined herein are used as defined in the Administration Agreement.

 

Section 2.          Resignation.
Pursuant to Sections 8(b) and 8(e) of the Administration Agreement, the Resigning Administrator hereby notifies the
Issuer, the Servicer and the Indenture Trustee that the Resigning Administrator is hereby resigning as Administrator under the
Administration Agreement, effective as of the Effective Time. The Issuer hereby consents to the resignation of the Resigning Administrator.

 

Section 3.          Appointment.
The Issuer hereby appoints the Successor Administrator as Administrator under the Administration Agreement, effective as of the
Effective Time, and confirms to the Successor Administrator all the rights, responsibilities, duties and liabilities of the Administrator
under the Administration Agreement.

 

Section 4.          Acceptance
of Appointment. (a) The Successor Administrator hereby accepts its appointment as Administrator under the Administration Agreement,
effective as of the Effective Time, and agrees to perform the duties and obligations set forth therein and shall hereby be vested
with all the rights, responsibilities, duties and liabilities of the Administrator under the Administration Agreement.

 

(b)         This
Agreement shall not constitute (i) a waiver by any of the parties hereto of any obligation or liability which Resigning Administrator
may have incurred in connection with its performance as Administrator under the Administration Agreement or (ii) an assumption
by Successor Administrator of any liability of Resigning Administrator arising out of a breach by Resigning Administrator of its
duties under the Administration Agreement. This Agreement does not constitute a waiver or assignment by Resigning Administrator
of any compensation, reimbursement, expenses or indemnity to which it is or may be entitled pursuant to the Administration Agreement.

 

     

     

    

 

Section 5.          Waiver.
Each of the Issuer and the Servicer, hereby waives the requirement to provide at least sixty (60) days’ prior written notice
of the Resigning Administrator’s resignation pursuant to Sections 8(b) and 8(e) of the Administration Agreement.

 

Section 6.          Representations
of Successor Administrator. The Successor Administrator hereby represents and warrants to the Resigning Administrator and to
the Issuer that this Agreement has been duly authorized, executed and delivered on behalf of the Successor Administrator and constitutes
its legal, valid and binding obligation.

 

Section 7.          Notices.
For the purposes of Section 10 of the Administration Agreement, all notices, whether faxed or mailed, will be deemed received
as provided in Section 10 of the Administration Agreement when sent pursuant to the following instructions:

 

TO THE RESIGNING ADMINISTRATOR:

 

General Electric Capital LLC

901 Main Avenue

Norwalk, Connecticut 06851

Attention: Legal Department

michael.paolillo@ge.com

 

With a copy to:

 

General Electric Capital LLC

201 Merritt 7

Norwalk, Connecticut 06851

Attention: Capital Markets - Securitization

charles.rhodes@ge.com

michael.paolillo@ge.com

 

TO THE SUCCESSOR ADMINISTRATOR:

 

GE Capital US Holdings, Inc.

901 Main Avenue

Norwalk, Connecticut 06851

Attention: Michael Paolillo

michael.paolillo@ge.com

 

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GEET 2012-2 Instrument of Resignation and
 Appointment –Administrator

     

    

 

TO THE ISSUER:

 

GE Equipment Transportation LLC, Series 2012-2

10 Riverview Drive

Danbury, Connecticut 06810

Attention: Capital Markets Operations

Telephone: (203) 749-2101

Facsimile: (203) 749-4054

 

With a copy to:

 

GE Capital US Holdings, Inc.

901 Main Avenue

Norwalk, Connecticut 06851

Attention: Michael Paolillo

michael.paolillo@ge.com

 

Section 8.          Miscellaneous.
(a) This Agreement is entered into and the resignation, appointment and acceptance effected hereby shall be effective as of 1:00
a.m. (New York time) on December 2, 2015 (the “Effective Time”); provided, that (i) each of the Issuer,
the Resigning Administrator and the Successor Administrator shall have executed a counterpart of this Agreement and (ii) the Rating
Agency Condition shall have been satisfied.

 

(b)         THIS
AGREEMENT AND THE OBLIGATIONS ARISING HEREUNDER SHALL IN ALL RESPECTS, INCLUDING ALL MATTERS OF CONSTRUCTION, VALIDITY AND PERFORMANCE,
BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING SECTION 5-1401(1)
OF THE GENERAL OBLIGATIONS LAW, BUT WITHOUT REGARD TO ANY OTHER CONFLICT OF LAW PROVISIONS THEREOF) AND ANY APPLICABLE LAWS OF
THE UNITED STATES OF AMERICA.

 

(c)         This
Agreement may be executed in any number of counterparts each of which shall be an original, but such counterparts shall together
constitute but one and the same Agreement. Delivery of an executed counterpart of this Agreement by electronic means shall be equally
as effective as delivery of an original executed counterpart of this Agreement.

 

[Signature pages follow.]

 

    	 	3 
	 
GEET 2012-2 Instrument of Resignation and
 Appointment –Administrator

     

    

 

IN WITNESS WHEREOF, the parties hereto have caused
this Instrument of Resignation, Appointment and Acceptance to be duly executed as of the day and year first above written.

 

	 	GE EQUIPMENT TRANSPORTATION LLC,
	 	SERIES 2012-2
	 	 	 
	 	 	By: CEF Equipment Holding, L.L.C., its Managing Member
	 	 	 
	 	By: 	/s/ Thomas A. Davidson
	 	 	Name:  Thomas A. Davidson
	 	 	Title:  President and Chief Executive Officer

 

    	 	S-1 
	 
GEET 2012-2 Instrument of Resignation and
 Appointment –Administrator

     

    

  

	 	GENERAL ELECTRIC CAPITAL LLC,
	 	as Resigning Administrator
	 	 	 
	 	By: 	/s/ Thomas A. Davidson
	 	 	Name:  Thomas A. Davidson
	 	 	Title:  Authorized Signatory

 

    	 	S-2 
	 
GEET 2012-2 Instrument of Resignation and
 Appointment –Administrator

     

    

  

	 	GE CAPITAL US HOLDINGS, INC., as Successor Administrator
	 	 	 
	 	By: 	/s/ Thomas A. Davidson
	 	 	Name: Thomas A. Davidson
	 	 	Title:  Authorized Signatory

 

    	 	S-3 
	 
GEET 2012-2 Instrument of Resignation and
 Appointment –Administrator

     

    

  

Solely for the purposes of the waiver set forth in Section 5
of this Agreement:

 

	 	General electric capital LLC,
	 	as Servicer
	 	 	 
	 	By: 	/s/ Thomas A. Davidson
	 	 	Name: Thomas A. Davidson
	 	 	Title:  Authorized Signatory

 

    	 	S-4 
	 
GEET 2012-2 Instrument of Resignation and
 Appointment –AdministratorExhibit 4.2

 

Execution Version

 

ASSIGNMENT AND ASSUMPTION OF

INTERCREDITOR AGREEMENT

 

THIS ASSIGNMENT AND ASSUMPTION
OF INTERCREDITOR AGREEMENT, dated as of December 2, 2015 (this “Assignment”), is among General Electric Capital
LLC, a Delaware limited liability company (formerly known as General Electric Capital Corporation), as assignor seller (the “Assignor”),
and GE Capital US Holdings, Inc., as assignee seller (the “Assignee”).

 

BACKGROUND

 

WHEREAS, the Assignor and
GE Equipment Transportation LLC, Series 2012-2 (the “Issuer”) are parties to an Intercreditor Agreement dated
as of October 24, 2012 (the “Intercreditor Agreement”);

 

WHEREAS, the Assignor wishes
to assign all of its rights and obligations as the Seller under (and as defined in) the Intercreditor Agreement to the Assignee,
and the Assignee wishes to assume such rights and obligations as the Seller under (and as defined in) the Intercreditor Agreement;

 

NOW, THEREFORE, in consideration
of the foregoing and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties
hereto hereby agree as follows:

 

SECTION 1. Definitions.
Capitalized terms defined in the Intercreditor Agreement and used but not otherwise defined herein have the meanings given to them
in (or by reference in) the Intercreditor Agreement.

 

SECTION 2. Assignment
and Assumption.

 

(a)          The
Assignor hereby assigns all of its rights and obligations as the Seller under (and as defined in) the Intercreditor Agreement to
the Assignee, effective as of the Effective Time, and the Assignee assumes such rights and obligations as the Seller under (and as
defined in) the Intercreditor Agreement, effective as of the Effective Time.

 

(b)          This
Agreement shall not constitute (i) a waiver by any of the parties hereto of any obligation or liability which the Assignor, may
have incurred in connection with the Intercreditor Agreement or (ii) an assumption by the Assignee, of any liability of the Assignor,
arising out of a breach by the Assignor, of its duties under the Intercreditor Agreement.

 

SECTION 3. Notices.
For the purposes of Section 5.1 of the Intercreditor Agreement, all notices, whether faxed or mailed, will be deemed received
as provided in Section 5.1 of the Intercreditor Agreement when sent pursuant to the following instructions:

  

    	 	
	

GEET 2012-2 Assignment and Assumption of
Intercreditor Agreement

     

    

  

If to the Assignor:

 

General Electric Capital
LLC

901 Main Avenue

Norwalk, Connecticut
06851

Attention: Legal Department

michael.paolillo@ge.com

 

With a copy to:

 

General Electric Capital
LLC

201 Merritt 7

Norwalk, Connecticut
06851

Attention: Capital
Markets - Securitization

charles.rhodes@ge.com

michael.paolillo@ge.com

 

If to the Assignee:

 

GE Capital US Holdings,
Inc.

901 Main Avenue

Norwalk, Connecticut 06851

Attention: Legal Department

michael.paolillo@ge.com

 

If to the Issuer:

 

GE Equipment Transportation LLC, Series 2012-2

10 Riverview Drive

Danbury, Connecticut 06810

Attention: Capital Markets Operations

Telephone: (203) 749-2101

Facsimile: (203) 749-4054

 

With a copy to:

 

GE Capital US Holdings,
Inc.

901 Main Avenue

Norwalk, Connecticut 06851

Attention: Legal Department

michael.paolillo@ge.com

 

SECTION 4. Miscellaneous.

 

(a)          This
Assignment is entered into and the assignment and assumption effected hereby shall be effective as of 1:00 a.m. (New York time)
on December 2, 2015 (the “Effective Time”); provided, that each of the parties hereto shall have executed
a counterpart to this Assignment.

 

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GEET 2012-2 Assignment and Assumption of
Intercreditor Agreement

     

    

 

(b)          THIS
ASSIGNMENT AND THE OBLIGATIONS ARISING HEREUNDER SHALL IN ALL RESPECTS, INCLUDING ALL MATTERS OF CONSTRUCTION, VALIDITY AND PERFORMANCE,
BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING SECTIONS
5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW, BUT WITHOUT REGARD TO ANY OTHER CONFLICT OF LAWS PROVISIONS THEREOF) AND ANY
APPLICABLE LAWS OF THE UNITED STATES OF AMERICA.

 

(c)          EACH
PARTY HERETO HEREBY CONSENTS AND AGREES THAT THE STATE OR FEDERAL COURTS LOCATED IN THE BOROUGH OF MANHATTAN IN NEW YORK CITY SHALL
HAVE EXCLUSIVE JURISDICTION TO HEAR AND DETERMINE ANY CLAIM OR DISPUTES BETWEEN THEM PERTAINING TO THIS ASSIGNMENT OR TO ANY MATTER
ARISING OUT OF OR RELATED TO THIS ASSIGNMENT; PROVIDED, THAT EACH PARTY HERETO ACKNOWLEDGES THAT ANY APPEAL FROM THOSE COURTS
MAY HAVE TO BE HEARD BY A COURT LOCATED OUTSIDE OF THE BOROUGH OF MANHATTAN IN NEW YORK CITY. EACH PARTY HERETO SUBMITS AND CONSENTS
IN ADVANCE TO SUCH JURISDICTION IN ANY ACTION OR SUIT COMMENCED IN ANY SUCH COURT, AND EACH PARTY HERETO WAIVES ANY OBJECTION THAT
SUCH PARTY MAY HAVE BASED UPON LACK OF PERSONAL JURISDICTION, IMPROPER VENUE OR FORUM NON CONVENIENS AND HEREBY
CONSENTS TO THE GRANTING OF SUCH LEGAL OR EQUITABLE RELIEF AS IS DEEMED APPROPRIATE BY SUCH COURT. EACH PARTY HERETO HEREBY WAIVES
PERSONAL SERVICE OF THE SUMMONS, COMPLAINT AND OTHER PROCESS ISSUED IN ANY SUCH ACTION OR SUIT AND AGREES THAT SERVICE OF SUCH
SUMMONS, COMPLAINT AND OTHER PROCESS MAY BE MADE BY REGISTERED OR CERTIFIED MAIL ADDRESSED TO SUCH PARTY AT ITS ADDRESS DETERMINED
IN ACCORDANCE WITH SECTION 5.1 OF THE INTERCREDITOR AGREEMENT AND THAT SERVICE SO MADE SHALL BE DEEMED COMPLETED UPON THE EARLIER
OF SUCH PARTY’S ACTUAL RECEIPT THEREOF OR THREE DAYS AFTER DEPOSIT IN THE UNITED STATES MAIL, PROPER POSTAGE PREPAID. NOTHING
IN THIS SECTION SHALL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE LEGAL PROCESS IN ANY OTHER MANNER PERMITTED BY LAW.

 

(d)          BECAUSE
DISPUTES ARISING IN CONNECTION WITH COMPLEX FINANCIAL TRANSACTIONS ARE MOST QUICKLY AND ECONOMICALLY RESOLVED BY AN EXPERIENCED
AND EXPERT PERSON AND THE PARTIES WISH APPLICABLE STATE AND FEDERAL LAWS TO APPLY (RATHER THAN ARBITRATION RULES), THE PARTIES
DESIRE THAT THEIR DISPUTES BE RESOLVED BY A JUDGE APPLYING SUCH APPLICABLE LAWS. THEREFORE, TO ACHIEVE THE BEST COMBINATION OF
THE BENEFITS OF THE JUDICIAL SYSTEM AND OF ARBITRATION, THE PARTIES HERETO WAIVE ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, SUIT,
OR PROCEEDING BROUGHT TO RESOLVE ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE, ARISING OUT OF, CONNECTED WITH,
RELATED TO, OR INCIDENTAL TO THE RELATIONSHIP ESTABLISHED AMONG THEM IN CONNECTION WITH THIS ASSIGNMENT OR THE TRANSACTIONS CONTEMPLATED
HEREBY.

 

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GEET 2012-2 Assignment and Assumption of
Intercreditor Agreement

     

    

 

(e)          Headings
used herein are for convenience of reference only and shall not affect the meaning of this Assignment or any provision hereof.

 

(f)          This
Assignment may be executed in any number of counterparts, and by the parties hereto on separate counterparts, each of which when
executed and delivered shall be deemed to be an original and all of which taken together shall constitute one and the same agreement.

 

(g)          Executed
counterparts of this Assignment may be delivered electronically.

 

[SIGNATURES
FOLLOW] 

 

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GEET 2012-2 Assignment and Assumption of
Intercreditor Agreement

     

    

 

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

 

	 	GENERAL ELECTRIC CAPITAL LLC,
	 	as the Assignor
	 	 	 
	 	By: 	/s/ Thomas A. Davidson
	 	Name: Thomas A. Davidson
	 	Title: Authorized Signatory

 

    	 	S-1
	

GEET 2012-2 Assignment and Assumption of
Intercreditor Agreement

     

    

 

	 	GE CAPITAL US HOLDINGS, INC.,
	 	as the Assignee 
	 	 	 
	 	By: 	/s/ Thomas A. Davidson
	 	Name: Thomas A. Davidson
	 	Title: Authorized Signatory

 

    	 	S-2
	

GEET 2012-2 Assignment and Assumption of
Intercreditor Agreement

     

    

 

Acknowledged and agreed as of the date and year first above written

 

	 	GE EQUIPMENT TRANSPORTATION LLC, 
	 	SERIES 2012-2
	 	 	 
	 	By:	CEF Equipment Holding, L.L.C.,
	 	 	its Managing Member
	 	 	 
	 	By: 	/s/ Thomas A. Davidson
	 	Name: Thomas A. Davidson
	 	Title: President and Chief Executive Officer

  

    	 	S-3
	

GEET 2012-2 Assignment and Assumption of
Intercreditor Agreement

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