Document:

Exhibit 10.1
    

    
      

      AMENDMENT NO. 6 TO SECOND AMENDED AND RESTATED
NOTE PURCHASE AGREEMENT
    

    
      This AMENDMENT NO. 6 TO SECOND AMENDED AND RESTATED NOTE PURCHASE
      AGREEMENT, dated as of March 16, 2010 (this “Amendment”) is
      made among CONN FUNDING II, L.P. (the “Issuer”), CONN
      APPLIANCES, INC. (“Conn Appliances”), THREE PILLARS FUNDING
      LLC (f/k/a Three Pillars Funding Corporation), JPMORGAN CHASE BANK,
      N.A., PARK AVENUE RECEIVABLES COMPANY, LLC and SUNTRUST ROBINSON
      HUMPHREY, INC.  Capitalized terms used and not otherwise defined in this
      Amendment are used as defined in that certain Base Indenture, dated as
      of September 1, 2002, as amended from time to time, between the Issuer
      and the Wells Fargo Bank, National Association (as successor to Wells
      Fargo Bank Minnesota, National Association), as Trustee (the “Trustee”)
      or, if not defined therein, in that certain Amended and Restated Series
      2002-A Supplement, dated as of September 10, 2007, as amended from time
      to time, between the Issuer and the Trustee.
    

    
      Background
    

    
      A.   The parties hereto have entered into the Second Amended and
      Restated Note Purchase Agreement, dated as of August 14, 2008, among the
      parties hereto (as amended, supplemented or otherwise modified through
      the date hereof, the “Note Purchase Agreement”) to finance
      the purchase of Receivables by the Issuer from Conn Appliances.
    

    
      B.   Conn Appliances and the other parties hereto wish for Conn
      Appliances, in its capacity as Servicer, to become a party to the Note
      Purchase Agreement and the parties hereto wish to amend the Note
      Purchase Agreement to provide for such joinder of the Servicer and the
      other amendments set forth herein.
    

    
      C.   The parties hereto are willing to agree to such an amendment, all
      as set out in this Amendment.
    

    
      Agreement
    

    
         1.   Amendments to the Note Purchase
      Agreement.  
    

    
      (a)       The Note Purchase Agreement is hereby amended to incorporate
      the changes reflected on Exhibit A hereto.
    

    
      (b)       In addition, from and after the date of the effectiveness of
      this Amendment, Conn Appliances, as Servicer, shall be a party to the
      Note Purchase Agreement for all purposes.  The Servicer hereby ratifies
      and confirms the Note Purchase Agreement in all respects.
    

    
         2.   Representations and Warranties;
      No Default.  (a)  Each of the Issuer and Conn Appliances, as Seller
      and as Servicer, hereby represents and warrants that, after giving
      effect to this Amendment:
    

    
                          (i)       no event or condition has occurred and is
      continuing which would constitute a Event of Default, Pay Out Event,
      Servicer Default or Block Event; and
    

    
      

    

    
      
        

        

      

      
        

        

        
          

        

      

      
        

        

      

    

    
                          (ii)      its representations and warranties set
      forth in the Note Purchase Agreement (as amended hereby) and the other
      Transaction Documents are true and correct as of the date hereof, as
      though made on and as of such date (except to the extent such
      representations and warranties relate solely to an earlier date and then
      as of such earlier date), and such representations and warranties shall
      continue to be true and correct (to such extent) after giving effect to
      the transactions contemplated hereby.
    

    
                (b) The Administrator, on behalf of Three Pillars, and the
      Funding Agent, on behalf of PARCO and the Committed Purchaser, hereby
      represent and warrant that together they own 100% of the Notes.
    

    
         3.   Effectiveness; Binding Effect;
      Ratification. This Amendment shall become effective, as of the date
      first set forth above upon receipt by (a) the Administrator of: (i)
      executed counterparts hereof from each of the parties hereto, (ii) a
      fully executed Second Amendment to the Series Supplement, dated the date
      hereof, between the Issuer and the Trustee (the “Second Series
      Supplement Amendment”), (iii) favorable opinion letters from counsel
      to the Issuer, the Seller and the Servicer, in each case in form and
      substance satisfactory to the Administrator and the Funding Agent, with
      respect to matters relating to non-consolidation and true sale, and
      other standard corporate opinions including with respect to
      enforceability, legality, no conflicts with law and agreements and
      Investment Company Act of 1940, as amended, (iv) that certain Amendment
      Fee Letter Agreement, dated as of the date hereof, among the Issuer,
      Conn Appliances, the Administrator and Three Pillars Funding LLC (the “SunTrust
      Amendment Fee Letter”), (v) evidence of satisfaction of the Rating
      Agency Condition, (vi) an amendment to the operating agreement of the
      General Partner in form and substance satisfactory to the Administrator
      and the Funding Agent and (vii) such other opinions, agreements,
      instruments and other documents as the Administrator or the Funding
      Agent may reasonably request, (b) the Funding Agent of that certain
      Amendment Fee Letter Agreement, dated as of the date hereof, among the
      Issuer, Conn Appliances, the Funding Agent, the Committed Purchaser and
      Park Avenue Receivables Company, LLC (the “JPMorgan Amendment
      Fee Letter”) and (c) each of the Administrator, the Funding Agent,
      Three Pillars, the Committed Purchaser and the Conduit Purchaser, as
      applicable, of all fees payable to such Person on or prior to the date
      hereof pursuant to this Amendment and the SunTrust Amendment Fee Letter
      and the JPMorgan Amendment Fee Letter, as applicable, and thereafter
      this Amendment shall be binding on the parties hereto and their
      respective successors and assigns.
    

    
             (a)  On and after the execution and delivery hereof, this
      Amendment shall be a part of the Note Purchase Agreement and each
      reference in the Note Purchase Agreement to “this Note Purchase
      Agreement” or “hereof”, “hereunder” or words of like import, and each
      reference in any other Transaction Document to the Note Purchase
      Agreement shall mean and be a reference to such Note Purchase Agreement
      as amended hereby.
    

    
             (b)  Except as expressly amended hereby, the Note Purchase
      Agreement shall remain in full force and effect and is hereby ratified
      and confirmed by the parties hereto.
    

    
         4.   Miscellaneous. (a) THIS
      AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
      NEW YORK, WITHOUT REFERENCE TO ITS CONFLICTS 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.  EACH OF THE PARTIES
      TO THIS AMENDMENT AGREES TO THE NON-EXCLUSIVE JURISDICTION OF THE UNITED
      STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK AND ANY
      APPELLATE COURT HAVING JURISDICTION TO REVIEW THE JUDGMENTS
      THEREOF.  EACH OF THE PARTIES HERETO HEREBY WAIVES ANY OBJECTION BASED
      ON FORUM NON CONVENIENS AND ANY OBJECTION TO VENUE OF ANY ACTION
      INSTITUTED HEREUNDER IN ANY OF THE AFOREMENTIONED COURTS AND CONSENTS TO
      THE GRANTING OF SUCH LEGAL OR EQUITABLE RELIEF AS IS DEEMED APPROPRIATE
      BY SUCH COURT.
    

    
      

    

    
      
        

        

      

      
        
          2
        

        
          

        

      

      
        

        

      

    

    
             (b)  All reasonable costs and expenses incurred by the Conduit
      Purchasers, the Administrator, the Funding Agent and the Committed
      Purchaser in connection with this Amendment, the Second Series
      Supplement Amendment, the SunTrust Amendment Fee Letter, the JPMorgan
      Amendment Fee Letter and all other instruments, opinions, documents,
      certificates, notices and agreements executed in connection therewith
      (including reasonable attorneys’ costs) shall be paid by the Issuer.
    

    
             (c)  Headings used herein are for convenience of reference only
      and shall not affect the meaning of this Amendment.
    

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

    
      [Signature Page Follows]
    

    
      

    

    
      
        

        

      

      
        
          3
        

        
          

        

      

      
        

        

      

    

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

    
    	
           
        	
          CONN FUNDING II, L.P., as Issuer
        
	

        	

        	
           
        
	

        	
          By: Conn Funding II GP, L.L.C., its general partner
        
	

        	

        	
           
        
	

        	

        	
           
        
	

        	
          
            By:
          

        	
          
            /s/ David R. Atnip
          

        
	

        	

        	
          
            Name: David R. Atnip
          

        
	

        	

        	
          
            Title: Treasurer
          

        
	

        	

        	
           
        
	

        	

        	
           
        
	

        	

        	
           
        
	

        	
          CONN APPLIANCES, INC., as Seller and as
        
	

        	
          Servicer
        
	

        	

        	
           
        
	

        	

        	
           
        
	

        	
          
            By:
          

        	
          
            /s/ Michael J. Poppe
          

        
	

        	

        	
          
            Name: Michael J. Poppe
          

        
	

        	

        	
          
            Title: Chief Financial Officer
          

        

    

    
      

    

    
      
        

        

      

      
        
          S-1
        

        
          

        

      

      
        

        

      

    

    
    	
           
        	
          THREE PILLARS FUNDING LLC,
        
	

        	
          as a Conduit Purchaser
        
	

        	

        	
           
        
	

        	

        	
           
        
	

        	
          
            By:
          

        	
          
            /s/ Doris J. Hearn
          

        
	

        	
          
            Name: Doris J. Hearn
          

        
	

        	
          
            Title: Vice President
          

        
	

        	

        	
           
        
	

        	

        	
           
        
	

        	

        	
           
        
	

        	
          SUNTRUST ROBINSON HUMPHREY, INC.,
        
	

        	
          as Administrator
        
	

        	

        	
           
        
	

        	

        	
           
        
	

        	
          
            By:
          

        	
          
            /s/ Joseph R. Franke
          

        
	

        	
          
            Name: Joseph R. Franke
          

        
	

        	
          
            Title: Director
          

        

    

    
      

    

    
      
        

        

      

      
        
          S-2
        

        
          

        

      

      
        

        

      

    

    
    	
           
        	
          JPMORGAN CHASE BANK, N.A., as Committed
        
	

        	
          Purchaser and Funding Agent
        
	

        	

        	
           
        
	

        	

        	
           
        
	

        	
          
            By:
          

        	
          
            /s/ Scott Cornelis
          

        
	

        	
          
            Name: Scott Cornelis
          

        
	

        	
          
            Title: Vice President
          

        
	

        	

        	
           
        
	

        	

        	
           
        
	

        	

        	
           
        
	

        	
          PARK AVENUE RECEIVABLES COMPANY
        
	

        	
          LLC, as a Conduit Purchaser
        
	

        	

        	
           
        
	

        	
          By: JPMorgan Chase Bank, N.A.,
        
	

        	
          its attorney-in-fact
        
	

        	

        	
           
        
	

        	

        	
           
        
	

        	
          
            By:
          

        	
          
            /s/ Scott Cornelis
          

        
	

        	
          
            Name: Scott Cornelis
          

        
	

        	
          
            Title: Vice President
          

        

    

    
      

    

    
      
        

        

      

      
        
          S-3
        

        
          

        

      

      
        

        

      

    

    
      EXHIBIT A
    

    
      (attached)
    

    
      

    

    
      
        

        

      

      
        
          Exh. A-1
        

        
          

        

      

      
        

        

      

    

    
      CONFORMED to include Amendment #1, dated
August 28, 2008, Amendment
      #2, dated August 10,
2009, Amendment #3, dated January 30, 2010,
Amendment
      #4, dated February 26, 2010,
Amendment #5, dated March 12, 2010, and
Amendment
      #6, dated March 16, 2010
    

    
      

      EXHIBIT A
    

    
      

      

      

      

      

      

      

      

      SECOND AMENDED AND RESTATED NOTE PURCHASE AGREEMENT
    

    
      among
    

    
      CONN FUNDING II, L.P.,
    

    
      as Issuer,
    

    
      CONN APPLIANCES, INC.,
    

    
      as Seller and as Servicer,
    

    
      THREE PILLARS FUNDING LLC,
    

    
      as a Conduit Purchaser,
    

    
      PARK AVENUE RECEIVABLES COMPANY, LLC,
    

    
      as a Conduit Purchaser,
    

    
      JPMORGAN CHASE BANK, N.A.,
as Funding Agent and as Committed
      Purchaser, and
    

    
      SUNTRUST ROBINSON HUMPHREY, INC.
    

    
      as the Administrator
    

    
      dated as of August 14, 2008
    

    
      

    

    
      
        

        

      

      
        

        

        
          

        

      

      
        

        

      

    

    
    	

        	
          
            TABLE OF CONTENTS
          

        	

        
	

        	

        	
           
        
	

        	

        	
          
            Page
          

        
	

        	

        	
           
        
	
          ARTICLE I.
        	
          DEFINITIONS
        	
          1
        
	
          SECTION 1.1
        	
          Certain Defined Terms
        	
          1
        
	
          SECTION 1.2
        	
          Other Definitional Provisions
        	
          12
        
	
          ARTICLE II.
        	
          PURCHASE AND SALE
        	
          12
        
	
          SECTION 2.1
        	
          Purchase and Sale of the Notes
        	
          12
        
	
          SECTION 2.2
        	
          Initial Purchase Price
        	
          
            13
          

        
	
          SECTION 2.3
        	
          Increases
        	
          
            13
          

        
	
          SECTION 2.4
        	
          Extension of Purchase Expiration Dates
        	
          14
        
	
          SECTION 2.5
        	
          Reduction of Maximum Principal Amount
        	
          
            15
          

        
	
          SECTION 2.6
        	
          Calculation of Monthly Interest
        	
          15
        
	
          SECTION 2.7
        	
          Benefits of Indenture.
        	
          16
        
	
          SECTION 2.8
        	
          Broken Funding
        	
          16
        
	
          SECTION 2.9
        	
          Illegality
        	
          
            17
          

        
	
          SECTION 2.10
        	
          Inability to Determine Eurodollar Rate (Reserve Adjusted)
        	
          17
        
	
          SECTION 2.11
        	
          Fees
        	
          
            18
          

        
	
          SECTION 2.12
        	
          Term Provisions
        	
          
            18
          

        
	
          SECTION 2.13
        	
          Allocations of Principal
        	
          19
        
	
          ARTICLE III.
        	
          CLOSING
        	
          19
        
	
          SECTION 3.1
        	
          Closing
        	
          19
        
	
          SECTION 3.2
        	
          Transactions to be Effected at the Closing
        	
          
            20
          

        
	
          ARTICLE IV.
        	
          CONDITIONS PRECEDENT
        	
          20
        
	
          SECTION 4.1
        	
          Conditions Precedent to Initial Purchase of the Notes
        	
          20
        
	
          SECTION 4.2
        	
          Conditions Precedent to each Increase
        	
          22
        
	
          SECTION 4.3
        	
          Conditions Precedent to the Restatement
        	
          22
        
	
          ARTICLE V.
        	
          REPRESENTATIONS AND WARRANTIES OF THE ISSUER, THE SELLER AND THE
          SERVICER
        	
          24
        
	
          SECTION 5.1
        	
          Representations, Warranties and Covenants of the Seller and the
          Issuer
        	
          24
        
	
          SECTION 5.2
        	
          Reaffirmation of Representations and Warranties by the Issuer
        	
          29
        
	
          SECTION 5.3
        	
          Representations and Warranties by the Servicer
        	
          29
        

    

    
      

    

    
      
        

        

      

      
        
          -i-
        

        
          

        

      

      
        

        

      

    

    
    	

        	
          
            TABLE OF CONTENTS
          

        	

        
	

        	
          (continued)
        	

        
	

        	

        	
           
        
	

        	

        	
          
            Page
          

        
	

        	

        	
           
        
	
          ARTICLE VI.
        	
          REPRESENTATIONS AND WARRANTIES WITH RESPECT TO THE ADMINISTRATOR,
          THE FUNDING AGENT AND THE CONDUIT PURCHASERS
        	
          29
        
	
          SECTION 6.1
        	
          Securities Laws; Transfer Restrictions
        	
          29
        
	
          ARTICLE VII.
        	
          COVENANTS
        	
          30
        
	
          SECTION 7.1
        	
          Monthly Noteholders’ Statement; Notice of Adverse Effect
        	
          30
        
	
          SECTION 7.2
        	
          Further Assurances
        	
          
            31
          

        
	
          SECTION 7.3
        	
          Modifications to Transaction Documents
        	
          31
        
	
          SECTION 7.4
        	
          Expenses
        	
          31
        
	
          SECTION 7.5
        	
          Reorganizations and Transfers
        	
          31
        
	
          SECTION 7.6
        	
          Financial Covenants; Ratings
        	
          31
        
	
          SECTION 7.7
        	
          ABL Covenants
        	
          33
        
	
          SECTION 7.8
        	
          Most Favored Lender
        	
          33
        
	
          SECTION 7.9
        	
          Restrictions on Amendments
        	
          
            34
          

        
	
          SECTION 7.10
        	
          Independent Manager
        	
          
            34
          

        
	
          SECTION 7.11
        	
          Obligor Address Reports
        	
          
            35
          

        
	
          SECTION 7.12
        	
          Monthly Obligor Statement Report; In-Store Collection Reduction;
          Back-Up Servicing
        	
          
            35
          

        
	
          SECTION 7.13
        	
          Servicer Inspections
        	
          
            37
          

        
	
          ARTICLE VIII.
        	
          INDEMNIFICATION
        	
          
            37
          

        
	
          SECTION 8.1
        	
          
            Indemnification
          

        	
          
            37
          

        
	
          SECTION 8.2
        	
          Increased Costs
        	
          
            38
          

        
	
          SECTION 8.3
        	
          Indemnity for Taxes
        	
          
            40
          

        
	
          SECTION 8.4
        	
          Other Costs, Expenses and Related Matters
        	
          
            41
          

        
	
          ARTICLE IX.
        	
          THE ADMINISTRATOR AND THE FUNDING AGENT
        	
          
            42
          

        
	
          SECTION 9.1
        	
          Authorization and Action
        	
          
            42
          

        
	
          SECTION 9.2
        	
          Administrator’s and Funding Agent’s Reliance, Etc
        	
          
            43
          

        
	
          SECTION 9.3
        	
          Administrator, Funding Agent and their Respective Affiliates
        	
          
            43
          

        
	
          SECTION 9.4
        	
          Purchase Decision
        	
          
            43
          

        
	
          SECTION 9.5
        	
          Successor Administrator and Funding Agent
        	
          
            44
          

        
	
          ARTICLE X.
        	
          MISCELLANEOUS
        	
          
            45
          

        

    

    
      

    

    
      
        

        

      

      
        
          -ii-
        

        
          

        

      

      
        

        

      

    

    
    	

        	
          
            TABLE OF CONTENTS
          

        	

        
	

        	
          (continued)
        	

        
	

        	

        	
           
        
	

        	

        	
          
            Page
          

        
	

        	

        	
           
        
	
          SECTION 10.1
        	
          Amendments
        	
          
            45
          

        
	
          SECTION 10.2
        	
          Notices
        	
          
            45
          

        
	
          SECTION 10.3
        	
          No Waiver; Remedies
        	
          
            46
          

        
	
          SECTION 10.4
        	
          Binding Effect; Assignability
        	
          
            46
          

        
	
          SECTION 10.5
        	
          Confidentiality
        	
          
            48
          

        
	
          SECTION 10.6
        	
          GOVERNING LAW; JURISDICTION
        	
          
            48
          

        
	
          SECTION 10.7
        	
          Wavier of Trial by Jury
        	
          
            49
          

        
	
          SECTION 10.8
        	
          No Proceedings
        	
          
            49
          

        
	
          SECTION 10.9
        	
          Execution in Counterparts
        	
          
            49
          

        
	
          SECTION 10.10
        	
          No Recourse
        	
          
            49
          

        
	
          SECTION 10.11
        	
          Survival
        	
          
            50
          

        
	
          SECTION 10.12
        	
          Recourse
        	
          
            50
          

        
	
          SECTION 10.13
        	
          No Fiduciary Duty
        	
          
            50
          

        
	
          SECTION 10.14
        	
          Consent
        	
          
            50
          

        
	
          SECTION 10.15
        	
          Tax Disclosure
        	
          
            50
          

        
	
          SCHEDULES AND EXHIBITS
        	

        	

        
	
          EXHIBIT A
        	
          Form Notice of Increase
        	

        
	
          Schedule I
        	
          List of Proceedings
        	

        
	
          Schedule II
        	
          List of Trade Names
        	

        

    

    
      

    

    
      
        

        

      

      
        
          -iii-
        

        
          

        

      

      
        

        

      

    

    
      This SECOND AMENDED AND RESTATED NOTE PURCHASE AGREEMENT, dated as of
      August 14, 2008 (as amended, supplemented or otherwise modified from
      time to time, this “Note Purchase Agreement”) is among CONN
      FUNDING II, L.P., as issuer (the “Issuer”), CONN
      APPLIANCES, INC., as seller (the “Seller”) and as servicer
      (the “Servicer”), THREE PILLARS FUNDING LLC (f/k/a Three
      Pillars Funding Corporation) (“Three Pillars”), as a
      conduit purchaser (a “Conduit Purchaser”), PARK AVENUE
      RECEIVABLES COMPANY, LLC (“PARCO”), as a conduit purchaser
      (a “Conduit Purchaser”, and together with Three Pillars
      Funding LLC, the “Conduit Purchasers”), JPMORGAN CHASE
      BANK, N.A. (“JPMorgan”), as funding agent for PARCO (in
      such capacity, the “Funding Agent”) and as Committed
      Purchaser and SUNTRUST ROBINSON HUMPHREY, INC. (f/k/a SunTrust Capital
      Markets, Inc.), as administrator (the “Administrator”).
    

    
      RECITALS
    

    
      WHEREAS, the Issuer has issued and may continue to issue the variable
      funding notes pursuant to a Base Indenture, dated as of September 1,
      2002 (as amended, supplemented or otherwise modified from time to time,
      the “Base Indenture”), between the Issuer and Wells Fargo
      Bank, National Association (f/k/a Wells Fargo Bank Minnesota, National
      Association), as trustee (in such capacity, together with its successors
      and assigns in such capacity, the “Trustee”), as
      supplemented by the Amended and Restated Series Supplement 2002-A, dated
      as of September 10, 2007, between the Issuer and the Trustee (as
      amended, supplemented or otherwise modified from time to time, the “Series
      Supplement”, and together with the Base Indenture, the “Indenture”);
      and
    

    
      WHEREAS, the Issuer, the Seller (for itself and as successor by merger
      to CAI, L.P.), the Conduit Purchasers, the Administrator and JPMorgan
      are parties to that certain Amended and Restated Note Purchase
      Agreement, dated as of September 10, 2007 (as amended prior to the date
      hereof, the “Original Note Purchase Agreement”) and such
      parties and the parties hereto desire to amend and restate the Original
      Note Purchase Agreement.
    

    
      NOW, THEREFORE, for full and fair consideration, the parties hereto
      agree that the Original Note Purchase Agreement is hereby amended and
      restated in its entirety as follows:
    

    
      ARTICLE I.  

DEFINITIONS
    

    
      SECTION 1.1  Certain Defined Terms.  Capitalized terms
      used herein without definition shall have the meanings set forth in the
      Indenture.  Additionally, the following terms shall have the following
      meanings:
    

    
      “ABL Agreement” means the Loan and Security Agreement,
      dated as of August 14, 2008 among the Parent, Conn Appliances, Inc.,
      Conn Credit Corporation, Inc., Conn Credit I, LP, certain financial
      institutions as Lenders, Bank of America, N.A., as administrative agent,
      joint bank runner, co-lead arranger and collateral agent, JPMorgan Chase
      Bank, National Association, as syndication agent, joint bank runner and
      co-lead arranger and Capital One N.A., as co-documentation agent.
    

    
      

    

    
      
        

        

      

      
        

        

        
          

        

      

      
        

        

      

    

    
      “ABL Facility” has the meaning set forth in Section 7.7.
    

    
      “Accounting Based Consolidation Event” means the
      consolidation, for financial and/or regulatory accounting purposes, of
      all or any portion of the assets and liabilities of a Conduit Purchaser
      with all or any portion of the assets and liabilities of any other
      Affected Party.  An Accounting Based Consolidation Event shall be deemed
      to occur on the date any Affected Party shall acknowledge in writing
      that any such consolidation of the assets and liabilities of a Conduit
      Purchaser shall occur.  
    

    
      “Act” means the Securities Act of 1933, as amended.
    

    
      “Administrator” has the meaning set forth in the Preamble.
    

    
      “Affected Party” means each of the Conduit Purchasers, the
      Committed Purchaser, any Liquidity Bank, any permitted assignee of any
      Conduit Purchaser or any Liquidity Bank, any Support Provider and any
      holder of a participation interest in the rights and obligations of any
      Liquidity Bank and any Credit Bank under any Liquidity Agreement and/or
      any Credit Agreement, the Administrator, the Funding Agent and any
      holding company of either Bank.
    

    
      “Aggregate Purchaser Funded Amount” means, on any date of
      determination an amount equal to (a) the Initial Purchase Price, plus
      (b) the aggregate amount of all Increases made prior to such date of
      determination (including Term Increases), minus (c) the aggregate
      amount of principal payments (including, without limitation, any
      Decreases) in respect of the Notes made to and received by or on behalf
      of the Conduit Purchasers and the Committed Purchaser prior to such
      date.  For the avoidance of doubt, amounts on deposit in any Term
      Account shall not be included in the Aggregate Purchaser Funded Amount
      until such amounts are advanced to the Issuer in accordance with Section
      2.3.
    

    
      “Alternate Reference Rate” means, on any date, a
      fluctuating rate of interest per annum equal to the higher
      of:
    

    
                 (a)  the rate of interest most recently announced by Bank at
      its principal office in Atlanta, Georgia or New York, New York, as
      applicable, as its prime rate (it being understood that at any one time
      there shall exist only one such prime rate so announced), which rate is
      not necessarily intended to be the lowest rate of interest determined by
      such Bank in connection with extensions of credit; or
    

    
                 (b)  the Federal Funds Rate (as defined below) most recently
      determined by Bank plus 0.50% per annum.
    

    
      “Applicable Margin” has the meaning set forth in the Fee
      Letters, as applicable.
    

    
      “Back-Up Servicer” means Wells Fargo Bank, National
      Association, a national banking association, as back-up servicer under
      the Back-Up Servicing Agreement, and its permitted successors and
      assigns.
    

    
      

    

    
      
        

        

      

      
        
          2
        

        
          

        

      

      
        

        

      

    

    
      “Bank” means SunTrust Bank, a Georgia banking corporation
      or JPMorgan, as applicable.
    

    
      “Bank Rate” means, for any Interest Period, an interest
      rate per annum equal to either (a) the sum of (i) 3.00% per
      annum, and (ii) the Eurodollar Rate (Reserve Adjusted) for such
      Interest Period; provided, however, that if (x) it shall
      become unlawful for any Liquidity Bank, any Credit Bank or Term
      Institution to obtain funds in the London interbank eurodollar market in
      order to make, fund or maintain any Funding Tranche hereunder, or if
      such funds shall not be reasonably available to any Liquidity Bank, any
      Credit Bank or Term Institution, or (y) there shall not be time prior to
      the commencement of an applicable Interest Period to determine a
      Eurodollar Rate (Reserve Adjusted) in accordance with its terms or the
      “Bank Rate” shall apply other than at the first day of the Interest
      Period, then the “Bank Rate” shall be equal to the weighted average of
      the Alternate Reference Rates in effect for each day during the
      remainder of such Interest Period or (b) if requested by the Issuer, the
      weighted average of the Alternate Reference Rates in effect during such
      Interest Period, plus 3.00%.
    

    
      “Block Event” means an event or circumstance that, after
      the giving of notice or lapse of time or both, would give rise to an
      Event of Default, Pay Out Event or Servicer Default.
    

    
      “Breakage Amounts” has the meaning specified in Section 2.8.
    

    
      “Closing” has the meaning specified in Section 3.1.
    

    
      “Closing Date” has the meaning specified in Section
      3.1.
    

    
      “Commercial Paper Notes” means short-term promissory notes
      issued by any Conduit Purchaser.
    

    
      “Commercial Paper Rate” means, for any Interest Period for
      the related Funding Tranche, a rate per annum equal to:
    

    
      (a) in the case of a Conduit Purchaser using match funding, the sum of
      (i) the rate or, if more than one rate, the weighted average of the
      rates, determined by converting to an interest-bearing equivalent rate per
      annum the discount rate (or rates) at which the applicable
      Commercial Paper Notes outstanding during such Interest Period have been
      or may be sold by any placement agent or commercial paper dealer
      selected by Administrator or the Funding Agent, as applicable, plus
      (ii) the commissions and charges charged by such placement agent or
      commercial paper dealer with respect to such Commercial Paper Notes
      expressed as a percentage of the face amount thereof and converted to an
      interest-bearing equivalent rate per annum (the “Match
      Funding Rate”); or
    

    
      (b) in the case of a Conduit Purchaser using pool funding, the sum of
      (i) the rate equivalent to the weighted average cost (as determined by
      the agent under the applicable securitization facility and which shall
      include incremental carrying costs incurred with respect to Commercial
      Paper Notes maturing on dates other than those on which corresponding
      funds are received by such Conduit Purchaser, other borrowings by such
      Conduit Purchaser (other than under any Credit Agreement)), plus
      (ii) the commissions and charges charged by such placement agent or
      commercial paper dealer with respect to such Commercial Paper Notes
      expressed as a percentage of the face amount thereof and converted to an
      interest-bearing equivalent rate per annum, plus
      (iii) any other costs associated with the issuance of Commercial Paper
      Notes) of or related to the issuance of Commercial Paper Notes that are
      allocated, in whole or in part, by such Conduit Purchaser or the agent
      under the applicable securitization facility to fund or maintain such
      portion of the aggregate principal amount of such Conduit Purchaser’s
      Note (and which may be also allocated in part to the funding of other
      assets of such Conduit Purchaser); provided, however, that if the rate
      (or rates) is a discount rate, then the rate (or if more than one rate,
      the weighted average of the rates) shall be the rate resulting from
      converting such discount rate (or rates) to an interest bearing
      equivalent rate per annum (the “Pool Funding Rate”).
    

    
      

    

    
      
        

        

      

      
        
          3
        

        
          

        

      

      
        

        

      

    

    
      “Commitment” means, (i) with respect to Three Pillars, the
      sum of its (a) Tranche A Commitment and (b) Tranche B Commitment and
      (ii) with respect to the Committed Purchaser the sum of its (a) Tranche
      A Commitment and (b) Tranche B Commitment.
    

    
      “Committed Purchaser” means, JPMorgan Chase Bank, N.A. and
      each of its successors and assigns and if the Issuer has requested that
      PARCO or JPMorgan Chase Bank, N.A. make a Term Deposit in accordance
      with Section 2.12, “Committed Purchaser” shall include JPMorgan
      Chase Bank, N.A. as a Term Institution.
    

    
      “Conduit Purchasers” means Three Pillars and PARCO.
    

    
      “Consolidated Group” shall mean, collectively, Parent and
      its Subsidiaries other than the Issuer (unless required to be
      consolidated in accordance with GAAP).
    

    
      “Consolidated Net Income” shall mean, for any period for
      the Consolidated Group, the net income minus the net losses of such
      Persons, as determined in accordance with GAAP, excluding unusual or
      extraordinary gains or losses.
    

    
      “Consolidated Net Worth” shall mean, as of any date, the
      consolidated net worth of the Consolidated Group as reflected in such
      Persons’ financial statements most recently filed with the Securities
      and Exchange Commission.
    

    
       “Covered Taxes” has the meaning specified in Section
      8.3.
    

    
      “Credit Advance” means a drawing under a letter of credit
      issued pursuant to a Credit Agreement for the account of any Conduit
      Purchaser, a loan to any Conduit Purchaser under a Credit Agreement or
      any other advance or disbursement of funds to any Conduit Purchaser or
      for such Conduit Purchaser’s account pursuant to a Credit Agreement or
      any such letter of credit, in each case to the extent such drawing,
      loan, advance or disbursement has not been repaid or reimbursed to the
      applicable Credit Bank in accordance with the related Credit Agreement.
    

    
      “Credit Agreement” means and includes any program-wide
      agreement entered into by any Credit Bank providing for the issuance of
      one or more letters of credit for the account of any Conduit Purchaser,
      the issuance of one or more surety bonds for which any Conduit Purchaser
      is obligated to reimburse the applicable Credit Bank for any drawings
      thereunder, the sale by any Conduit Purchaser to any Credit Bank of
      receivables or other financial assets purchased by such Conduit
      Purchaser (or portions thereof) and/or the making of loans and/or other
      extensions of credit to any Conduit Purchaser in connection with its
      commercial paper program, together with any cash collateral agreement,
      letter of credit, surety bond or other agreement or instrument executed
      and delivered in connection therewith (but excluding the Liquidity
      Agreement of such Conduit Purchaser, or similar agreement, or any
      voluntary advance agreement).
    

    
      

    

    
      
        

        

      

      
        
          4
        

        
          

        

      

      
        

        

      

    

    
      “Credit Bank” means and includes each Bank and any other or
      additional bank or other Person (other than any customer of any Conduit
      Purchaser or any liquidity provider as such) now or hereafter extending
      credit or a purchase commitment to or for the account of a Conduit
      Purchaser or issuing a letter of credit, surety bond or other
      instrument, in each case to support any obligations arising under or in
      connection with such Conduit Purchaser’s commercial paper program.
    

    
      “Decrease” has the meaning specified in the Series
      Supplement.
    

    
      “Default Rate” has the meaning specified in the definition
      of Note Rate.
    

    
      “Dollar” or “$” means lawful currency of
      the United States of America.
    

    
      “Enhanced Back-Up Servicer Trigger” means (i) as of the
      last day of each Fiscal Quarter beginning with the Fiscal Quarter ending
      July 31, 2010, the Fixed Charge Coverage Ratio of the Consolidated
      Parent is less than 1.40:1.00, or (ii) as of the last day of any Monthly
      Period, beginning with the Monthly Period ending July 31, 2010, the Net
      Portfolio Yield averaged over the three most recent consecutive Monthly
      Periods is less than 3.50%.  For the avoidance of doubt the first
      measurement of the Net Portfolio Yield as described in clause (ii) shall
      be the average of the Net Portfolio Yield measured for the months of
      May, June and July 2010.
    

    
      “Eurodollar Rate (Reserve Adjusted)” means, with respect to
      any Funding Tranche, the rate per annum equal to the quotient of (i) the
      offered rate for deposits in Dollars for a one-month period in an amount
      equal (as nearly as possible) to the principal amount of the Funding
      Tranche which rate appears on the pages 3750 or 3740, as applicable, of
      the Dow Jones Market Service as of 11:00 A.M. (London, England) time on
      the Rate Setting Day; provided, that if at least two rates appear
      on pages 3750 or 3740, as applicable, of the Dow Jones Market Service on
      such Rate Setting Day, the rate for such Interest Period shall be the
      arithmetic mean of such rates; provided further, that if no such
      offered rates appear on such page, the rate used for such Interest
      Period will be the arithmetic average (rounded upward, if necessary, to
      the next higher 1/16th of 1%) of rates offered to Administrator by not
      less than two major banks in London, England at approximately 10:00 A.M.
      (Atlanta, Georgia time), two (2) Business Days prior to the first day of
      such Interest Period for deposits in U.S. dollars in the London
      interbank market for a one-month period in an amount comparable to the
      principal amount of the Funding Tranche, divided by (ii) a number equal
      to 1.00 minus the Reserve Percentage.  The rate so determined in
      accordance herewith shall be rounded upwards to the multiple of 1/100th
      of 1%
    

    
      “Federal Bankruptcy Code” means the bankruptcy code of the
      United States of America codified in Title 11 of the United States Code.
    

    
      

    

    
      
        

        

      

      
        
          5
        

        
          

        

      

      
        

        

      

    

    
      “Federal Funds Rate” means, for any day the greater of (i)
      the average rate per annum as determined by the respective Bank at which
      overnight Federal funds are offered to such Bank for such day by major
      banks in the interbank market, and (ii) if such Bank is borrowing
      overnight funds from a Federal Reserve Bank that day, the average rate
      per annum at which such overnight borrowings are made on that day.  Each
      determination of the Federal Funds Rate by such Bank shall be conclusive
      and binding on the Issuer except in the case of manifest error.
    

    
      “Federal Reserve Board” means the Board of Governors of the
      Federal Reserve System, or any entity succeeding to any of its principal
      functions.
    

    
      “Fee Letters” means each of the following letter
      agreements:  (i) that certain Third Amended and Restated Fee Letter,
      dated as of August 28, 2008, as amended from time to time, between the
      Issuer and the Administrator setting forth certain fees payable by the
      Issuer in connection with the purchase of Notes by the Administrator for
      the benefit of Three Pillars and (ii) that certain Amended and Restated
      Fee Letter, dated as of August 28, 2008, as amended from time to time,
      between the Issuer and the Funding Agent setting forth certain fees
      payable by the Issuer in connection with the purchase of Notes by the
      Funding Agent for the benefit of PARCO.
    

    
      “Fees” has the meaning set forth in Section 2.11.
    

    
      “Final Purchase Expiration Date” means the later to occur
      of (i) the Tranche A Purchase Expiration Date, (ii) Tranche B Purchase
      Expiration Date and (iii) if the Issuer has requested a Term Institution
      make a Term Deposit in accordance with Section 2.12, the
      Term Draw Expiration Date (as such dates may be extended from time to
      time pursuant to Section 2.4).
    

    
      “Fiscal Quarter” has the meaning specified in the ABL
      Agreement as of the Restatement Date.
    

    
      “Fixed Charge Coverage Ratio” has the meaning specified in
      the ABL Agreement as amended by the First Amendment thereto dated to be
      effective as of January 30, 2010 and the Second Amendment thereto dated
      to be effective as of February 26, 2010 (without giving effect to any
      future amendment, supplement or other modification to the ABL Agreement).
    

    
      “Fixed Period” means, with respect to a Funding Tranche, a
      period selected by (i) the Administrator with respect to Three Pillars
      and (ii) the Funding Agent with respect to PARCO or the Committed
      Purchaser in each case in its sole discretion; provided, that
    

    
                     (i)  any Fixed Period with respect to any Funding Tranche
      not funded by the issuance of Commercial Paper Notes which would
      otherwise end on a day which is not a Business Day shall be extended to
      the next succeeding Business Day; provided, however, if
      interest in respect of such Fixed Period is computed by reference to the
      Eurodollar Rate (Reserve Adjusted), and such Fixed Period would
      otherwise end on a day which is not a Business Day, and there is no
      subsequent Business Day in the same calendar month as such day, such
      Fixed Period shall end on the next preceding Business Day;
    

    
                    (ii)  any Fixed Period with respect to any Funding Tranche
      not funded by the issuance of Commercial Paper Notes will not be for a
      term of more than 40 days; and
    

    
      

    

    
      
        

        

      

      
        
          6
        

        
          

        

      

      
        

        

      

    

    
                   (iii)  any Fixed Period in respect of which interest is
      computed by reference to the Commercial Paper Rate may be terminated at
      the election of, and upon notice thereof to the Issuer by, the
      Administrator or the Funding Agent, as applicable, any time, in which
      case the Funding Tranche allocated to such terminated Fixed Period shall
      be allocated to a new Fixed Period and shall accrue interest at the
      Alternate Reference Rate.
    

    
      “Funding Agent” is defined in the Preamble.
    

    
      “Funding Tranche” means one or more portions of the
      Aggregate Purchaser Funded Amount used to fund or maintain the Notes
      that accrue interest by reference to different interest rates.
    

    
      “General Partner” means Conn Funding II GP, L.L.C. and its
      permitted successors and assigns, as general partner of the Issuer.
    

    
      “Governmental Actions” means any and all consents,
      approvals, permits, orders, authorizations, waivers, exceptions,
      variances, exemptions or licenses of, or registrations, declarations or
      filings with, any Governmental Authority required under any Governmental
      Rules.
    

    
      “Governmental Authority” means the United States of
      America, any state or other political subdivision thereof and any entity
      exercising executive, legislative, judicial, regulatory or
      administrative functions of or pertaining to government and having
      jurisdiction over the applicable Person.
    

    
      “Governmental Rules” means any and all laws, statutes,
      codes, rules, regulations, ordinances, orders, writs, decrees and
      injunctions, of any Governmental Authority and any and all legally
      binding conditions, standards, prohibitions, requirements and judgments
      of any Governmental Authority.
    

    
      “Increase” has the meaning specified in the Series
      Supplement.
    

    
      “Increase Amount” means the amount requested by the Issuer
      to be funded by the Conduit Purchasers and the Committed Purchaser, as
      may be applicable (on a pro rata basis based on the Commitment including
      any commitment amounts as a Term Institution) on an Increase Date.
    

    
      “Increase Date” means the date on which each Increase
      occurs.
    

    
      “Indemnified Party” has the meaning specified in Section
      8.1.
    

    
      “Independent Manager” has the meaning specified in Section
      7.10.
    

    
      “Initial Note Principal” means $28,080,192.
    

    
      “Initial Purchase Price” has the meaning specified in Section
      2.2.
    

    
      

    

    
      
        

        

      

      
        
          7
        

        
          

        

      

      
        

        

      

    

    
      “Intercreditor Agreement” means that Intercreditor
      Agreement dated as of August 14, 2008, among Seller, Conn Credit
      Corporation, Inc., Conn Credit I, L.P., Bank of America, N.A., and the
      Trustee.
    

    
      “Issuer” is defined in the Preamble.
    

    
      “Issuer Indemnified Amounts” has the meaning specified in subsection 8.1(a).
    

    
      “JPMorgan” is defined in the Preamble.
    

    
      “Liquidity Agreement” means and includes (a) the Liquidity
      Asset Purchase Agreement (regarding Conn Funding II, L.P.), dated as of
      September 13, 2002, among Three Pillars, as borrower, SunTrust Bank, as
      liquidity agent for the Liquidity Banks from time to time party thereto,
      and SunTrust Robinson Humphrey, Inc. (f/k/a SunTrust Equitable
      Securities Corporation), as administrator for Three Pillars, and the
      Liquidity Banks from time to time party thereto, (b) the Asset Purchase
      Agreement (regarding Conn Funding II, L.P.), dated as of September 10,
      2007 among PARCO, JPMorgan, as funding agent for the Liquidity Banks
      from time to time party thereto and the Liquidity Banks from time to
      time party thereto, and (c) any other agreement hereafter entered into
      by any Conduit Purchaser providing for the sale by such Conduit
      Purchaser of an interest in the Notes (or portions thereof), or the
      making of loans or other extensions of credit to such Conduit Purchaser
      secured by security interests in the Notes (or portions thereof), to
      support all or part of such Conduit Purchaser’s payment obligations
      under its Commercial Paper Notes or to provide an alternate means of
      funding such Conduit Purchaser’s investments in accounts receivable or
      other financial assets, in each case as amended, supplemented or
      otherwise modified from time to time.
    

    
      “Liquidity Bank” means and includes the applicable Bank and
      the various financial institutions as are, or may become, parties to a
      Liquidity Agreement, as purchasers thereunder.
    

    
      “Match Funding Rate” has the meaning specified in clause
      (a) of the definition of “Commercial Paper Rate” herein.
    

    
      “Monthly Noteholders’ Statement” has the meaning
      specified in paragraph 2.3(b)(i).
    

    
      “Monthly Obligor Statement” has the meaning specified in Section
      7.12(a).
    

    
      “Non-POS System” has the meaning specified in Section
      7.12(b).
    

    
      “Note Rate” means, with respect to any Interest Period, the
      weighted average of the rates applicable to all Funding Tranches
      outstanding during all or part of such Interest Period (determined as of
      each day in such Interest Period), each such rate being (a) to the
      extent any Conduit Purchaser (other than in its capacity as a Term
      Institution) is funding such Funding Tranche during such period through
      the issuance of its Commercial Paper Notes, the Commercial Paper Rate
      plus the Applicable Margin, (b) to the extent any (i) Conduit Purchaser
      (other than its capacity as a Term Institution) is funding such Funding
      Tranche during such period pursuant to a Liquidity Agreement or, in the
      case of Three Pillars, the Voluntary Advance Agreement or (ii) a
      Committed Purchaser (other than in its capacity as a Term Institution)
      is funding such Funding Tranche during such period, a rate per annum
      equal to the Bank Rate plus the Applicable Margin, and (c) to the extent
      a Term Institution is funding such Funding Tranche during such period, a
      rate per annum equal to the greater of (i) the Bank Rate
      minus 3% plus the Applicable Margin and (ii) the Commercial Paper Rate
      plus the Applicable Margin; provided that on any day after the
      occurrence and continuance of any Servicer Default, Pay Out Event or any
      other Event of Default, the rate applicable to each such Funding Tranche
      (the “Default Rate”) shall be 3% per annum
      above the applicable Alternate Reference Rate in effect on such day plus
      the Applicable Margin; provided, however, that interest
      for any Funding Tranche shall not be considered paid by any distribution
      to the extent that all or a portion of such distribution is rescinded or
      must otherwise be returned for any reason.  
    

    
      

    

    
      
        

        

      

      
        
          8
        

        
          

        

      

      
        

        

      

    

    
       “Notes” means the Variable Funding Asset Backed Notes
      Series 2002-A in the maximum aggregate principal amount of $450,000,000
      to be issued by the Issuer pursuant to the Indenture.  
    

    
      “Notice of Increase” means a written notice of an Increase
      in the form of Exhibit A hereto.
    

    
      “Offering Memorandum 2002” means that certain offering
      memorandum, dated as of September 10, 2002, prepared by the Issuer and
      the Seller in connection with the issuance of the Series 2002-B Fixed
      Rate Notes.
    

    
      “Original Note Purchase Agreement” is defined in the Recitals.
    

    
      “PARCO” means Park Avenue Receivables Company, LLC and each
      of its successors and assigns, and if the Issuer has requested PARCO or
      JPMorgan to make a Term Deposit in accordance with Section 2.12,
      “PARCO” shall include Park Avenue Receivables Company, LLC as a Term
      Institution.
    

    
      “Participant” has the meaning specified in subsection
      1.4(b).
    

    
      “Pool Funding Rate” has the meaning specified in clause
      (b) of the definition of “Commercial Paper Rate” herein.
    

    
      “Program Documents” means, with respect to each Conduit
      Purchaser, the related Liquidity Agreement, any related Credit
      Agreement, solely with respect to Three Pillars, the Voluntary Advance
      Agreement, the documents under which Administrator or the Funding Agent,
      as applicable, performs its obligations and the other documents to be
      executed and delivered in connection therewith, in each case as amended,
      supplemented or otherwise modified from time to time.
    

    
      “Purchase Expiration Date” means any of (i) the Tranche A
      Purchase Expiration Date, (ii) Tranche B Purchase Expiration Date and
      (iii) the Term Draw Expiration Date, as the context requires.
    

    
      

    

    
      
        

        

      

      
        
          9
        

        
          

        

      

      
        

        

      

    

    
      “Rate Setting Day” means, for any Interest Period, two (2)
      Business Days prior to the commencement of such Interest Period.  In the
      event such day is not a Business Day, then the Rate Setting Day shall be
      the immediately preceding Business Day.
    

    
      “Reduction” has the meaning specified in Section
      2.5.
    

    
      “Restatement” has the meaning specified in Section
      3.1.
    

    
      “Restatement Date” has the meaning specified in Section
      3.1.
    

    
      “Seller” is defined in the Preamble (it being
      understood that any reference to the Seller with respect to the Closing
      Date shall be deemed a reference to the Seller and its predecessors).
    

    
      “Servicer” is defined in the Preamble.
    

    
      “Support Provider” means and includes any entity now or
      hereafter extending credit or liquidity support or having a commitment
      to extend credit or liquidity support to or for the account of, or to
      make loans to or purchases from, any Conduit Purchaser or issuing a
      letter of credit, surety bond or other instrument to support any
      obligations arising under or in connection with the commercial paper
      program of such Conduit Purchaser.
    

    
      “Term Account” means, for any Term Institution, the
      securities account in the name of the Issuer maintained by such Term
      Institution during the Term Period, if any, and under the sole control
      and dominion of such Term Institution, to secure the Issuer’s obligation
      to repay the Term Deposit made by such Term Institution.
    

    
      “Term Deposit” shall mean, as of any date of determination
      in respect of any Term Institution, the amount deposited by such Term
      Institution into such Term Institution’s Term Account pursuant to Section
      2.12 hereof minus any Term Increase made by such Term
      Institution plus any repayments or prepayments in respect of the
      Aggregate Purchaser Funded Amount that are deposited into such Term
      Account in accordance with Section 2.12 hereof.
    

    
      “Term Deposit Rate” means the rate per annum equal to the
      Bank Rate minus 3.00% per annum.
    

    
      “Term Draw Expiration Date” means the earlier of (i)
      September 10, 2012, as such date may be extended in accordance with Section
      2.4 or (ii) the date of occurrence of an Event of Default, Payout
      Event or Servicer Default.
    

    
      “Term Increase” has the meaning set forth in Section
      2.3(a).
    

    
      “Term Institution” has the meaning set forth in Section
      2.12(a).
    

    
      “Term Interest” has the meaning set forth in Section
      2.12(e).
    

    
      “Term Period” shall mean, with respect to any Term
      Institution, the period commencing on the date, if any, on which such
      Term Institution establishes its Term Account and makes the initial
      deposit therein pursuant to Section 2.12 hereof and ending on the
      earlier of the Term Draw Expiration Date or the date of the maturity of
      the Notes if accelerated following our Event of Default, Payment Event
      or Servicer Default.
    

    
      

    

    
      
        

        

      

      
        
          10
        

        
          

        

      

      
        

        

      

    

    
      “Total Liabilities to Tangible Net Worth Ratio” has the
      meaning specified in the ABL Agreement as amended by the First Amendment
      thereto dated to be effective as of January 30, 2010 and the Second
      Amendment thereto dated to be effective as of February 26, 2010 (without
      giving effect to any future amendment, supplement or other modification
      to the ABL Agreement).
    

    
      “Three Pillars” means Three Pillars Funding LLC and each of
      its successors and assigns, and if the Issuer has requested Three
      Pillars make a Term Deposit in accordance with Section 2.12,
      “Three Pillars” shall include Three Pillars Funding LLC as a Term
      Institution.
    

    
      “Tranche A Commitment” means, with respect to Three Pillars
      $66,666,666.67 and with respect to the Committed Purchaser
      $33,333,333.33, in each case, as may be reduced from time to time in
      accordance with Section 2.5; provided after the occurrence of the
      Tranche A Purchase Expiration Date with respect to Three Pillars or the
      Committed Purchaser, as applicable, such Person’s Tranche A Commitment
      shall be zero.
    

    
      “Tranche A Purchase Expiration Date” means the earlier of
      (i) August 13, 2009 (as such date may be extended from time to time
      pursuant to Section 2.4) and (ii) the date of the occurrence of
      an Event of Default, Payout Event or Servicer Default.
    

    
      “Tranche B Commitment” means, with respect to Three
      Pillars, $133,333,333.33, and with respect to the Committed Purchaser,
      $66,666,666.67, in each case, as may be reduced from time to time in
      accordance with Section 2.5; provided if the Issuer fails to
      request (i) Three Pillars, in accordance with Section 2.12, to
      establish a Term Account and make a Term Deposit prior to the third
      Business Day prior to the Tranche B Purchase Expiration Date, Three
      Pillar’s Tranche B Commitment shall be zero and (ii) the Committed
      Purchaser or PARCO, in accordance with Section 2.12, to establish
      a Term Account and make a Term Deposit prior to the third Business Day
      prior to the Tranche B Purchase Expiration Date, the Committed
      Purchaser’s Tranche B Commitment shall be zero; provided further if the
      Issuer requests (i) Three Pillars, in accordance with Section 2.12,
      to establish a Term Account and make a Term Deposit prior to the third
      Business Day prior to the Tranche B Purchase Expiration Date, Three
      Pillar’s Tranche B Commitment shall be zero on the Term Draw Expiration
      Date and (ii) the Committed Purchaser or PARCO, in accordance with Section
      2.12, to establish a Term Account and make a Term Deposit prior to
      the third Business Day prior to the Tranche B Purchase Expiration Date,
      the Committed Purchaser’s Tranche B Commitment shall be zero on the Term
      Draw Expiration Date.
    

    
      “Tranche B Purchase Expiration Date” means the earlier of
      (i) August 9, 2010 (as such date may be extended from time to time
      pursuant to Section 2.4) and (ii) the date of the occurrence of
      an Event of Default, Payout Event or Servicer Default.
    

    
      “Transaction Documents” means (i) the Base Indenture, (ii)
      the Series Supplement, (iii) this Note Purchase Agreement, (iv) the Fee
      Letters, (v) the Liquidity Agreements, (vi) the Servicing Agreement and
      (vii) the Notes, in each case in effect on September 10, 2007 or as
      modified in accordance with the terms of the Transaction Documents.
    

    
      

    

    
      
        

        

      

      
        
          11
        

        
          

        

      

      
        

        

      

    

    
      “Trust Assets” means all of the Issuer’s right, title and
      interest in and to all Receivables, Related Security, Contracts,
      Collections and all proceeds relating to the foregoing and all of the
      other collateral which is part of the Trust Estate or otherwise pledged
      to the Trustee for the benefit of the Secured Parties pursuant to the
      Indenture.
    

    
      “Voluntary Advance Agreement” means the Voluntary Advance
      Agreement, dated as of March 11, 1999, among SunTrust Robinson Humphrey,
      Inc. (f/k/a SunTrust Equitable Securities Corporation), the
      Administrator and SunTrust Bank, as it may be amended, supplemented or
      otherwise modified from time to time.
    

    
      SECTION 1.2  Other Definitional Provisions.  
    

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

    
                 (b)  As used herein and in any certificate or other document
      made or delivered pursuant hereto or thereto, accounting terms not
      defined in Section 1.1, and accounting terms partially defined in Section
      1.1 to the extent not defined, shall have the respective meanings
      given to them under GAAP.  To the extent that the definitions of
      accounting terms herein are inconsistent with the meanings of such terms
      under generally accepted accounting principles, the definitions
      contained herein shall control.
    

    
                 (c)  The words “hereof,” “herein” and “hereunder” and words
      of similar import when used in this Note Purchase Agreement shall refer
      to this Note Purchase Agreement as a whole and not to any particular
      provision of this Note Purchase Agreement; and Section, subsection,
      Schedule and Exhibit references contained in this Note Purchase
      Agreement are references to Sections, subsections, the Schedules and
      Exhibits in or to this Note Purchase Agreement unless otherwise
      specified.
    

    
                                    (d)       All other rules of construction
      as set forth in the Indenture are hereby incorporated herein by
      reference.
    

    
      ARTICLE II.  

PURCHASE AND SALE
    

    
      SECTION 2.1  Purchase and Sale of the Notes.  On the
      terms and subject to the conditions set forth in the Note Purchase
      Agreement dated as of the Closing Date, and in reliance on the
      covenants, representations, warranties and agreements therein set forth,
      the Issuer sold at the Closing to the Administrator, on behalf of Three
      Pillars the Notes then outstanding in an aggregate initial outstanding
      principal amount equal to the Initial Note Principal for the Initial
      Purchase Price.  On September 10, 2007, the Administrator, on behalf of
      Three Pillars, assigned a portion of the Notes to the Funding Agent, on
      behalf of PARCO, and the Committed Purchaser.
    

    
      

    

    
      
        

        

      

      
        
          12
        

        
          

        

      

      
        

        

      

    

    
      SECTION 2.2  Initial Purchase Price.  The Notes were
      purchased at Closing at a price (the “Initial Purchase Price”)
      equal to 100% of the Initial Note Principal.
    

    
      SECTION 2.3  Increases.
    

    
                 (a)  Subject to the terms and conditions of this Note
      Purchase Agreement and the Series Supplement, from time to time prior to
      the Final Purchase Expiration Date but not more frequently than twice
      per month (unless the Administrator and the Funding Agent otherwise
      consent in their sole discretion) upon receipt by the Administrator and
      the Funding Agent of a Notice of Increase, the Administrator, on behalf
      of Three Pillars, and the Funding Agent, on behalf of PARCO or the
      Committed Purchaser, as the case may be, shall make Increases as
      provided in Section 2.3(c); provided, however, that
      neither of Three Pillars nor the Committed Purchaser shall be required
      to fund any Increase if, after giving effect thereto, its Note Principal
      would exceed the Maximum Principal Amount; and provided, further,
      that neither of Three Pillars nor the Committed Purchaser shall be
      required to fund any Increase if, after giving effect thereto, its Note
      Principal would exceed its Commitment. Notwithstanding anything
      contained in the Transaction Documents, any portion of an Increase
      funded after the Tranche B Purchase Expiration Date allocated to a Term
      Institution’s Tranche B Commitment shall be funded by withdrawing such
      Term Institution’s pro rata share of such Increase from such Term
      Institution’s Term Account (a “Term Increase”).
    

    
                 (b)  Each Increase hereunder shall be subject to the further
      conditions precedent that:
    

    
                     (i)  The Administrator and the Funding Agent will have
      received copies of each of the monthly noteholders’ statement, the form
      of which is attached as Exhibit B to the Series Supplement (the “Monthly
      Noteholders’ Statement”), in each case, most recently required
      to have been delivered under the Indenture;
    

    
                    (ii)  Each of the representations and warranties of each
      of the Seller, the Servicer and the Issuer made in the Transaction
      Documents to which it is a party shall be true and correct in all
      material respects as of the applicable Increase Date (except to the
      extent they expressly relate to an earlier or later time);
    

    
                   (iii)  The Issuer, the Servicer and the Seller shall be in
      compliance in all material respects with all of its respective covenants
      contained in the Transaction Documents;
    

    
                    (iv)  No Pay Out Event, Potential Pay Out Event, Default,
      Event of Default, Servicer Default or Block Event shall have occurred
      and be continuing;
    

    
                     (v)  The Final Purchase Expiration Date shall not have
      occurred; and
    

    
      

    

    
      
        

        

      

      
        
          13
        

        
          

        

      

      
        

        

      

    

    
                    (vi)  The Administrator and the Funding Agent shall have
      received a completed Notice of Increase with respect to such proposed
      Increase, not later than 12:00 p.m. (New York time) one (1) Business Day
      prior to the proposed date of such Increase.
    

    
                 (c)  Three Pillars shall make its related pro rata portion of
      the proceeds of such requested Increase available to the Administrator
      at its office in Atlanta, Georgia, and PARCO or the Committed Purchaser,
      as applicable may make its related pro rata portion of the proceeds of
      such requested Increase available to the Funding Agent at its office in
      New York, New York, in same day funds on the Increase Date, and if PARCO
      does not make available its full pro rata portion of such Increase
      Amount, the Committed Purchaser shall make any portion constituting a
      shortfall so available to the Funding Agent.  Upon receipt by
      Administrator and the Funding Agent of such funds, the Administrator and
      the Funding Agent will make such funds available to Issuer not later
      than 3:00 p.m. New York City time on the Increase Date by wire transfer
      of immediately available funds to such account as may from time to time
      be specified by the Issuer in a notice to the Administrator and the
      Funding Agent.
    

    
                 (d)  All conditions set forth in Section 3.1
      of the Series Supplement, to the extent applicable, shall have been
      satisfied at such time.  Each “Increase” with respect to all VFN Series
      shall be allocated to each respective VFN Series as instructed by the
      Issuer; provided, that (i) the Issuer shall not (unless necessary in
      order to comply with the requirements of clause (ii) of this paragraph)
      disproportionately allocate Increases to the same VFN Series for two or
      more consecutive Increases and (ii) shall at all times use its
      reasonable best efforts to allocate Increases to the respective VFN
      Series so that the aggregate of the “Aggregate Purchaser Funded Amounts”
      under (and as defined in) each VFN Series is at all times ratably
      allocated among each such VFN Series according to their respective
      “Maximum Principal Amount” (as defined in each such VFN Series).
    

    
      SECTION 2.4  Extension of Purchase Expiration Dates.  The
      Issuer may advise the Administrator and the Funding Agent, in writing of
      its desire to extend any of the Purchase Expiration Dates; provided
      such request is made not more than 90 days prior to, and not less than
      60 days prior to, the then current related Purchase Expiration Date or
      the Term Draw Expiration Date, as applicable.  The Administrator and the
      Funding Agent shall notify the Issuer in writing, within 45 days after
      its receipt of such request by the Issuer, whether the Conduit
      Purchasers and the Committed Purchaser are agreeable to such extension
      (it being understood that each Conduit Purchaser may accept or decline
      such a request in its sole discretion and on such terms as it may elect)
      and, to the extent the Conduit Purchasers and the Committed Purchaser
      are agreeable, the Issuer, the Administrator, the Funding Agent, the
      Committed Purchaser and the Conduit Purchasers shall enter into such
      documents on or prior to the third Business Day prior to the then
      current Purchase Expiration Date as the Conduit Purchasers and the
      Committed Purchaser may deem necessary or appropriate to reflect such
      extension, and all reasonable costs and expenses incurred by the Conduit
      Purchasers, the Administrator, the Funding Agent and the Committed
      Purchaser in connection therewith (including reasonable attorneys’
      costs) shall be paid by the Issuer; it being understood, that the
      failure of the Administrator and the Funding Agent to so notify the
      Issuer as set forth above shall not be deemed to be a consent to such
      request for extension by any Conduit Purchaser or the Committed
      Purchaser.  Notwithstanding anything contained herein, Three Pillars or
      the Committed Purchaser may agree to extend any Purchase Expiration Date
      independently of the other Person if such other Person declines to
      extend such Purchase Expiration Date.  In such a case, the applicable
      Purchase Expiration Date shall occur only with respect to the Person
      declining to so extend.
    

    
      

    

    
      
        

        

      

      
        
          14
        

        
          

        

      

      
        

        

      

    

    
      SECTION 2.5  Reduction of Maximum Principal Amount.
    

    
                 (a)  On any Payment Date prior to the Rapid Pay Out
      Commencement Date, upon the written request of the Issuer, the “Maximum
      Principal Amount” (as defined in each VFN Series) may be permanently
      reduced (a “Reduction”), on a ratable basis with respect to
      each VFN Series and with respect to the Notes, by the Issuer; provided
      that the Issuer shall have given each applicable “Administrator” and the
      Funding Agent hereunder irrevocable written notice (effective upon
      receipt) of the amount of such Reduction prior to 10:00 a.m., New York
      time on a Business Day that is at least thirty (30) days prior to such
      Reduction; provided, that any such Reduction shall be in an
      amount equal to $5,000,000 in the aggregate for all VFN Series and
      integral multiples of $100,000 in excess thereof; and provided,
      further, that no Reduction may cause the aggregate of the
      “Maximum Principal Amounts” under all VFN Series to be lower than
      $0.  Each Reduction effected pursuant to this Section 2.5
      shall automatically and permanently, without any further action on the
      part of any party, reduce (i) the Commitment of each of (a) Three
      Pillars and (b) PARCO and the Committed Purchaser on a pro rata basis,
      in the amount of such Reduction (ii) the Tranche A Commitment and the
      Tranche B Commitment on a ratable basis with respect to the Commitment
      of Three Pillars and the Commitment of the Committed Purchaser; provided
      if requested by the Issuer and each of the Administrator and the Funding
      Agent agrees, in writing, in their sole discretion, the Tranche A
      Commitments and Tranche B Commitments of Three Pillars and the Committed
      Purchaser may be reduced in amounts agreed to by the Issuer, the
      Administrator and the Funding Agent (which may not be on a ratable
      basis);
    

    
                 (b)  The Issuer shall pay to (i) the Administrator on behalf
      of Three Pillars and (ii) the Funding Agent on behalf of PARCO or the
      Committed Purchaser any accrued and unpaid fees and expenses with
      respect to the reduction amount on the date of any such Reduction.
    

    
      SECTION 2.6  Calculation of Monthly Interest.  
    

    
      (a)       On the Business Day prior to each Series Transfer Date, the
      Administrator (with respect to Three Pillars) and the Funding Agent
      (with respect to PARCO and the Committed Purchaser) shall calculate, for
      the applicable Interest Period, the aggregate Monthly Interest for each
      Funding Tranche (such Monthly Interest to be calculated using the Note
      Rate, if necessary, for the remaining days in such Interest
      Period).  Each of the Administrator and the Funding Agent may, in its
      sole discretion, determine the Commercial Paper Rate for its related
      Conduit Purchaser with respect to each Series Transfer Date using the
      Match Funding Rate or the Pool Funding Rate; provided, however,
      that to the extent that the related Conduit Purchaser may choose between
      the Match Funding Rate or the Pool Funding Rate, the Issuer may request
      the Administrator or the Funding Agent, as applicable, to use either the
      Match Funding Rate or the Pool Funding Rate in determining the
      Commercial Paper Rate for its related Conduit Purchaser with respect to
      such Series Transfer Date (it being understood and agreed that the
      Administrator or the Funding Agent, as applicable, shall have no
      obligation to follow any such request by the Issuer).
    

    
      

    

    
      
        

        

      

      
        
          15
        

        
          

        

      

      
        

        

      

    

    
                 (b)  The Issuer agrees to pay, and the Issuer agrees to
      instruct the Servicer and the Trustee to pay, all amounts payable by it
      with respect to the Notes, this Note Purchase Agreement and the Series
      Supplement to the accounts designated by the Administrator and the
      Funding Agent.  All such amounts shall be paid no later than noon, New
      York City time, on the day when due as determined in accordance with
      this Note Purchase Agreement, the Indenture and the other Transaction
      Documents, in lawful money of the United States in immediately available
      funds.  Amounts received after that time shall be deemed to have been
      received on the next Business Day and shall bear interest at the Default
      Rate, which interest shall be payable on demand.
    

    
      SECTION 2.7  Benefits of Indenture. The Issuer hereby
      acknowledges and confirms that each representation, warranty, covenant
      and agreement made pursuant to the Indenture by the Issuer to the
      Trustee is (unless such representation, warranty, covenant or agreement
      specifically states otherwise), also made herein, all for the benefit
      and security of each Conduit Purchaser, the Committed  Purchaser, the
      Funding Agent and the Administrator.
    

    
      SECTION 2.8  Broken Funding.  In the event of (i) the
      payment of any principal of any Funding Tranche (other than a Funding
      Tranche on which the interest is computed by reference to the Alternate
      Reference Rate) other than on the last day of the Fixed Period
      applicable thereto (including as a result of the occurrence of the Rapid
      Pay Out Commencement Date or an optional prepayment of a Funding
      Tranche), or (ii) any failure to borrow or prepay any Funding Tranche
      (other than a Funding Tranche on which the interest is computed by
      reference to the Alternate Reference Rate) on the date specified in any
      notice delivered pursuant hereto, then, in any such event, the Issuer
      shall compensate the Affected Party for the loss, cost and expense
      attributable to such event.  Such loss, cost or expense to any such
      Affected Party shall be deemed to include an amount (the “Breakage
      Amount”) determined by such Affected Party (or the Administrator
      with respect to Three Pillars or the Funding Agent with respect to PARCO
      or the Committed Purchaser, as applicable) to be the excess, if any, of
      (i) the amount of interest which would have accrued on the portion of
      the principal amount of such Funding Tranche prepaid or to be borrowed
      or prepaid had such event not occurred, at the interest rate that would
      have been applicable to such Funding Tranche, for the period from the
      date of such event to the last day of the Fixed Period (or, in the case
      of a failure to borrow for the period that would have been the related
      Fixed Period), over (ii) the amount of interest which would be
      obtainable upon redeployment or reinvestment of an amount of funds equal
      to such portion of such Funding Tranche for such period.  A certificate
      of any Affected Party incurring any loss, cost or expense as a result of
      any of the events specified in this Section 2.8 and setting forth
      any amount or amounts that the Affected Party is entitled to receive
      pursuant to this Section 2.8 and the reason(s) therefor shall be
      delivered to the Issuer by the Administrator or the Funding Agent and
      shall include reasonably detailed calculations and shall be conclusive
      absent manifest error.  The Issuer shall pay to the Administrator or the
      Funding Agent, as applicable, on behalf of such Affected Party the
      amount shown as due on any such certificate on the first Payment Date
      which is not less than three Business Days after receipt thereof.
    

    
      

    

    
      
        

        

      

      
        
          16
        

        
          

        

      

      
        

        

      

    

    
      SECTION 2.9  Illegality.  Notwithstanding anything in
      this Note Purchase Agreement or any other Transaction Document to the
      contrary, if, after the Closing Date, the adoption of any Law or bank
      regulatory guideline or any amendment or change in the interpretation of
      any existing or future Law or bank regulatory guideline by any Official
      Body charged with the administration, interpretation or application
      thereof, or the compliance with any directive of any Official Body (in
      the case of any bank regulatory guideline, whether or not having the
      force of Law), shall make it unlawful for any Affected Party to acquire
      or maintain a Funding Tranche by reference to the Eurodollar Rate
      (Reserve Adjusted) as contemplated by this Note Purchase Agreement or
      any Program Document, (i) the Administrator or the Funding Agent, as
      applicable, on behalf of such Affected Party shall, within forty-five
      (45) days after receiving actual knowledge thereof, deliver a
      certificate to the Issuer (with a copy to the Administrator or Funding
      Agent, as applicable) setting forth the basis for such illegality, which
      certificate shall be conclusive absent manifest error, and (ii) such
      Affected Party’s portion of any Funding Tranche maintained by reference
      to the Eurodollar Rate (Reserve Adjusted) then outstanding shall be
      converted automatically to a Funding Tranche maintained by reference to
      the Alternate Reference Rate.
    

    
      SECTION 2.10  Inability to Determine Eurodollar Rate
      (Reserve Adjusted).  If, prior to the first day of any Interest
      Period relating to any Funding Tranche maintained by reference to the
      Eurodollar Rate (Reserve Adjusted):
    

    
                         (1)  the Administrator or the Funding Agent shall
      have determined (which determination in the absence of manifest error
      shall be conclusive and binding upon the Issuer) that, by reason of
      circumstances affecting the relevant market, adequate and reasonable
      means do not exist for ascertaining the Eurodollar Rate (Reserve
      Adjusted) for such Interest Period; or
    

    
                         (2)  the Administrator or the Funding Agent shall
      have received notice from an Affected Party that the Eurodollar Rate
      (Reserve Adjusted) determined or to be determined for such Interest
      Period will not adequately and fairly reflect the cost to such Affected
      Party (as conclusively certified by such Person) of purchasing or
      maintaining their affected portions of such Funding Tranches during such
      Interest Period;
    

    
      then, in either such event, the Administrator or the Funding Agent shall
      give telecopy or telephonic notice thereof (confirmed in writing) to the
      Issuer and the Administrator or Funding Agent, as applicable as soon as
      practicable (but, in any event, within thirty (30) days after such
      determination or notice, as applicable) thereafter. Until such notice
      has been withdrawn by the Administrator or the Funding Agent, as
      applicable, no further Funding Tranches by the related Conduit Purchaser
      or Committed Purchaser shall be funded or maintained at the Eurodollar
      Rate (Reserve Adjusted).  The Administrator and the Funding Agent, as
      applicable, agrees to withdraw any such notice as soon as reasonably
      practicable after such Person is notified of a change in circumstances
      which makes such notice inapplicable.
    

    
      

    

    
      
        

        

      

      
        
          17
        

        
          

        

      

      
        

        

      

    

    
      SECTION 2.11  Fees.  The Issuer shall pay to the
      Administrator or the Funding Agent, as applicable, for the benefit of
      the applicable Affected Party as and when due and in accordance with the
      provisions for payment set forth in Article 5 of the Series
      Supplement, each of the applicable fees set forth in the Fee Letters
      (the “Fees”).
    

    
      SECTION 2.12  Term Provisions.
    

    
                 (a)  If the Issuer has requested an extension of the
      Tranche B Purchase Expiration Date from each of Three Pillars and the
      Committed Purchaser in accordance with Section 2.4 and if
      the Tranche B Purchase Expiration Date is not extended in accordance
      with Section 2.4 by the Committed Purchaser or Three Pillars
      (each such Person that does not agree to extend the Tranche B Purchase
      Expiration Date is referred to herein as a “Term Institution”)
      on terms acceptable to the Issuer, in its sole discretion, such Term
      Institution shall, by 11:00 a.m. (New York time) on the Tranche B
      Purchase Expiration Date following its receipt of written request
      therefor from the Issuer by 10:00 a.m. (New York time) three Business
      Days prior to the Tranche B Purchase Expiration Date and subject to the
      satisfaction of the applicable conditions precedent set forth in Section
      4.2, (i) establish such Term Institution’s Term Account and (ii)
      make a Term Deposit by depositing, in same day funds to such Term
      Institution’s Term Account, an amount equal to such Term Institution’s
      Tranche B Commitment less such Term Institution’s pro rata share of the
      Aggregate Purchaser Funded Amount allocated to the Tranche B Commitment
      as of such date.  Each Term Institution shall invest the amounts on
      deposit in such Term Institution’s Term Account in Permitted Investments
      (it being agreed that the earnings on any such Permitted Investments
      shall be applied to offset the Term Interest payable to such Term
      Institutions).  Any losses with respect to the Permitted Investments
      shall be borne by the Issuer and shall be deemed to be an “Increase”
      made by the applicable Term Institution.  Notwithstanding anything
      contained herein, if the Committed Purchaser does not (i) extend the
      Tranche B Purchase Expiration Date or (ii) renew on terms acceptable to
      the Issuer and the Issuer requests the Committed Purchaser make a Term
      Deposit pursuant to this Section 2.12, PARCO may, in its
      sole discretion, make the Term Deposit in lieu of the Committed
      Purchaser, provided, further, that PARCO may at any time
      request the Committed Purchaser to fund the related Term Account and any
      outstanding Term Increases made by PARCO.  Notwithstanding anything
      contained herein, if both Three Pillars and the Committed Purchaser
      decline to extend the Tranche B Purchase Expiration Date, and the Issuer
      requests a Term Deposit be made pursuant to this Section 2.12, the
      Issuer shall request that both Three Pillars and the Committed Purchaser
      make a Term Deposit in accordance with the terms hereof.
    

    
                 (b)  During the Term Period, all additional Increases to be
      made by any Term Institution pursuant to Section 2.3 shall be
      made by such Term Institution by withdrawing funds from such Term
      Institution’s Term Account.
    

    
                 (c)  All Term Deposits shall be due and payable in full by
      the Issuer on the earlier of the Term Draw Expiration Date, the date of
      maturity of the Notes if accelerated following an Event of Default in
      accordance with any Transaction Document and the Rapid Pay Out
      Commencement Date and each Term Institution that has outstanding Term
      Deposits may apply all amounts on deposit in the related Term Account to
      repay such Term Deposits, together with all accrued and unpaid interest
      thereon.
    

    
      

    

    
      
        

        

      

      
        
          18
        

        
          

        

      

      
        

        

      

    

    
                 (d)  The Issuer hereby agrees that it shall use the proceeds
      of the Term Deposits solely to fund Term Increases from time to
      time.  The Issuer hereby grants to the applicable Term Institution, a
      security interest in the related Term Account, all funds from time to
      time credited to such Term Account, all financial assets (including,
      without limitation, Permitted Investments) from time to time acquired
      with any such funds or otherwise credited to such Term Account, all
      interest, dividends, cash, instruments and other investment property
      from time to time received, receivable or otherwise distributed in
      respect of or in exchange for any or all of such funds or such financial
      assets, and all proceeds of, collateral for, and supporting obligations
      relating to any and all of the foregoing.  The grant of a security
      interest by the Issuer to each such Term Institution pursuant to this
      Section secures the payment of the Issuer’s obligation to repay the Term
      Deposits, and to pay interest thereon, pursuant to the terms of this
      Agreement.
    

    
                 (e)  Interest shall accrue on the Term Deposit for each
      Interest Period at the Term Deposit Rate (“Term Interest”)
      and the Issuer shall pay Term Interest on each Payment Date on the Term
      Deposit to the applicable Term Institutions, in accordance with Section
      2.6 of this Agreement and Section 5.2 of the Indenture.
    

    
                 (f)  Repayments of principal to a Term Institution with
      respect to amounts allocated to the Tranche B Commitment shall be paid
      to the applicable Term Institution’s Term Account and applied to reduce
      the Aggregate Purchaser Funded Amount.
    

    
      SECTION 2.13  Allocations of Principal.  The Aggregate
      Purchaser Funded Amount shall be allocated first against the Tranche B
      Commitment in an amount up to the aggregate the Tranche B Commitment and
      second against the Tranche A Commitment by the Administrator.  Principal
      payments on the Notes shall be allocated by the Administrator first, to
      the Tranche C Principal Amount, if any, second, to reduce amounts
      allocated to the Tranche A Commitment until amounts allocated to the
      Tranche A Commitment have been reduced to zero and third, to reduce
      amounts allocated by the Administrator to the Tranche B Commitment.
    

    
      ARTICLE III.  

CLOSING
    

    
      SECTION 3.1  Closing.  The closing (the “Closing”)
      of the purchase and sale of the Notes was held on September 13, 2002
      (the date of the Closing being referred to herein as the “Closing
      Date”).  The closing of the transactions contemplated by this Note
      Purchase Agreement (the “Restatement”) will be held at 9:00
      a.m., Chicago, Illinois time, on or about August 14, 2008, at the
      offices of Mayer Brown LLP, 71 South Wacker Drive, Chicago, Illinois
      60606 (such date being referred to herein as the “Restatement
      Date”).
    

    
      

    

    
      
        

        

      

      
        
          19
        

        
          

        

      

      
        

        

      

    

    
      SECTION 3.2  Transactions to be Effected at the Closing.  At
      the Closing (a) the Administrator delivered to the Issuer funds in an
      amount equal to the sum of the Initial Purchase Price; and (b) the
      Issuer delivered one Note to the Administrator in satisfaction of the
      Issuer’s obligation to the Administrator hereunder.  On the Restatement
      Date the Issuer shall deliver the then outstanding Notes to the Trustee
      for cancellation and shall deliver newly issued Notes to the
      Administrator and the Funding Agent in the form attached to the Series
      Supplement.
    

    
      ARTICLE IV.  

CONDITIONS PRECEDENT
    

    
      SECTION 4.1  Conditions Precedent to Initial Purchase of
      the Notes.  In addition to the conditions set forth in Section
      3.1 of the Series Supplement, the purchase by the Administrator on
      behalf of the Conduit Purchaser of the Notes was subject to the
      satisfaction at the time of the Closing of the following conditions,
      each of which was satisfied or waived on or prior to the Closing:
    

    
                 (a)  The Administrator shall have received on the Closing
      Date from each of the Seller and the Issuer, a certificate, dated the
      Closing Date and signed by an executive officer of the Seller and an
      executive officer of the Issuer, as the case may be, to the effect that,
      and the Administrator shall be satisfied that, (i) the representations
      and warranties of the Seller and the Issuer in this Note Purchase
      Agreement, the Indenture and the other Transaction Documents are true
      and correct on and as of the Closing Date as if made on and as of such
      date, (ii) the Issuer and the Seller have complied with all the
      agreements and satisfied all the conditions on their part to be
      performed or satisfied in this Note Purchase Agreement, the Indenture
      and the other Transaction Documents, as applicable, at or prior to the
      Closing Date, and (iii) there has not occurred any change or any
      development that is likely to result in a change in the condition,
      financial or otherwise, or in the earnings, business, operations or
      prospects of the Issuer or the Seller, and their respective Affiliates,
      taken as a whole, from that set forth in the Offering Memorandum 2002
      that has had or could reasonably be expected to have a Material Adverse
      Effect.
    

    
                 (b)  The Administrator shall have received a certificate,
      dated the Closing Date, signed by an executive officer of Trustee to the
      effect that each of the Trust Accounts have been established.
    

    
                 (c)  The Administrator shall have received, on the Closing
      Date, opinions delivered to the Administrator and the Conduit Purchaser
      (and the other addressees reasonably requested by the Initial
      Purchaser), in each case, dated the Closing Date, covering such matters
      as the Administrator shall reasonably request.
    

    
                 (d)  The Issuer, the Trustee, the Seller and the other
      parties to the Transaction Documents shall have executed and delivered
      the Transaction Documents to which they are parties in the same form and
      substance as previously presented to and approved by the Administrator.
    

    
      

    

    
      
        

        

      

      
        
          20
        

        
          

        

      

      
        

        

      

    

    
                 (e)  Prior to the Closing Date, the Issuer and the Seller
      shall have furnished to the Administrator such further information,
      certificates and documents as the Administrator may reasonably request.
    

    
                 (f)  Prior to the Closing Date, the Administrator shall have
      received certified copies of resolutions of the Board of Directors of
      the Issuer, the Servicer and the Seller (or, in each case, of its
      general partner or sole member, if applicable) authorizing or ratifying
      the execution, delivery and performance, respectively, of the
      Transaction Documents to which it is a party, together with a certified
      copy of its articles or certificate of incorporation or certificate of
      limited partnership, as applicable, and a copy of its limited
      partnership agreement or by-laws, as applicable.
    

    
                 (g)  Prior to the Closing Date, the Administrator shall have
      received certified copies of all documents evidencing any necessary
      corporate action, consents and governmental approvals (if any) with
      respect to the Transaction Documents.
    

    
                 (h)  Prior to the Closing Date, the Administrator shall have
      received a certificate of the secretary or an assistant secretary of
      each of the Issuer, the Servicer Letter of Credit Bank and the Seller
      (or, in each case, of its general partner, if applicable) certifying the
      names of its officer or officers authorized to sign the Transaction
      Documents to which it is a party.
    

    
                 (i)  Prior to the Closing Date, the Administrator shall have
      received good standing certificates for the Issuer, the Servicer and the
      Seller issued as of a recent date acceptable to Administrator by (a) the
      Secretary of State of the jurisdiction of such Person’s incorporation or
      organization, and (b) the Secretary of State of the jurisdiction where
      such Person’s chief executive office and principal place of business are
      located.
    

    
                 (j)  Prior to the Closing Date, the Administrator shall have
      received (i) acknowledgment copies of proper financing statements (Form
      UCC-1), filed on or prior to the Closing Date, naming Issuer as debtor
      and Trustee (for the benefit of the Secured Parties) as the secured
      party as may be necessary or, in the opinion of Administrator, desirable
      under the UCC to perfect Trustee’s (for the benefit of the Secured
      Parties) security interest in the Trust Estate, (ii) acknowledgment
      copies of proper financing statements, filed on or prior to the Closing
      Date, naming the Seller (and its predecessors) as seller/debtor, the
      Issuer as purchaser/secured party and the Trustee as assignee as may be
      necessary or, in the opinion of Administrator, desirable under the UCC
      to perfect Trustee’s ownership interest in the Receivables and the
      proceeds thereof, and (iii) executed copies of proper UCC-3 financing
      statements necessary to release all liens and other Adverse Claims of
      any Person in the Trust Estate, the Receivables or the Purchased
      Receivables, as applicable, granted by the Issuer or the Seller or its
      predecessors.
    

    
                 (k)  Prior to the Closing Date, the Administrator shall have
      received a written search report by a search service acceptable to
      Administrator listing all effective financing statements that name the
      Issuer or the Seller and its predecessors as a debtor or assignor and
      that are filed in the jurisdictions in which filings were made pursuant
      to subsection 4.1(j) above and in such other jurisdictions
      that Administrator shall have reasonably requested, together with copies
      of such financing statements (none of which shall cover any of the Trust
      Estate), and tax and judgment lien search reports from a Person
      satisfactory to Administrator showing no evidence of such lien filed
      against the Issuer or the Seller and its predecessors.
    

    
      

    

    
      
        

        

      

      
        
          21
        

        
          

        

      

      
        

        

      

    

    
                 (l)  Prior to the Closing Date, the Administrator shall have
      received all outstanding Fees payable pursuant to the Fee Letter,
      including all accrued attorneys’ fees and expenses.
    

    
                 (m)  No action shall have been taken and no statute, rule,
      regulation or order shall have been enacted, adopted or issued by any
      Governmental Authority that would, as of the Closing Date, prevent the
      issuance or sale of the Notes; and no injunction or order of any
      Federal, state or foreign court shall have been issued that would, as of
      the Closing Date, prevent the issuance or sale of the Notes.
    

    
                 (n)  All Governmental Actions of all Governmental Authorities
      required with respect to the transactions contemplated by the
      Transaction Documents and the other documents related thereto shall have
      been obtained or made.
    

    
                 (o)  To the extent required by Three Pillars’ commercial
      paper program, a letter from each rating agency rating Three Pillars’
      Commercial Paper Notes confirming its rating of such Commercial Paper
      Notes or that such rating will not be withdrawn or downgraded after
      giving effect to the Original Note Purchase Agreement and the
      transactions contemplated thereby.
    

    
                 (p)  No Pay Out Event, Potential Pay Out Event, Event of
      Default, Servicer Default or Block Event has occurred and is continuing.
    

    
                 (q)  The representations and  warranties of the Issuer, the
      Servicer and the Seller set forth in the Original Note Purchase
      Agreement and the other Transaction Documents are true and correct as of
      the Closing Date.
    

    
      SECTION 4.2  Conditions Precedent to each Increase.  In
      addition to the conditions set forth in Section 3.1 of the Series
      Supplement, the obligation of the Conduit Purchasers and the Committed
      Purchaser to fund any Increase on the related Increase Date is subject
      to the condition that there exist no Pay Out Event, Potential Pay Out
      Event, Event of Default, Servicer Default or Block Event which has
      occurred and is continuing.
    

    
      SECTION 4.3  Conditions Precedent to the Restatement.  In
      addition to the conditions set forth in Section 3.1 of the Series
      Supplement, the purchase by the Administrator and the Funding Agent on
      behalf of the respective Conduit Purchasers of the Notes on the
      Restatement Date is subject to the satisfaction at the time of the
      Restatement of the following conditions:
    

    
                 (a)  The Administrator and the Funding Agent shall have
      received on the Restatement Date from each of the Seller and the Issuer,
      a certificate signed by an executive officer of such Person, dated the
      Restatement Date, to the effect that (i) the representations and
      warranties of the Seller and the Issuer in this Note Purchase Agreement,
      the Indenture and the other Transaction Documents are true and correct
      on and as of the Restatement Date as if made on and as of such date,
      (ii) the Issuer and the Seller have complied with all the agreements and
      satisfied all the conditions on their part to be performed or satisfied
      in this Note Purchase Agreement, the Indenture and the other Transaction
      Documents, as applicable, at or prior to the Restatement Date, and (iii)
      there has not occurred any change or any development that is likely to
      result in a change in the condition, financial or otherwise, or in the
      earnings, business, operations or prospects of the Issuer or the Seller,
      and their respective Affiliates, taken as a whole, from that set forth
      in the Seller’s most recent form 10-K filed with the Securities and
      Exchange Commission that has had or could reasonably be expected to have
      a Material Adverse Effect and the Administrator and the Funding Agent
      shall be satisfied that such conditions are true.
    

    
      

    

    
      
        

        

      

      
        
          22
        

        
          

        

      

      
        

        

      

    

    
                 (b)  [Reserved].
    

    
                 (c)  The Administrator and the Funding Agent shall have
      received on the Restatement Date opinion letters and/or bring-down
      letters of opinions delivered to the Administrator and Three Pillars
      prior to the Restatement Date from counsel to the Issuer, the Seller and
      the Trustee, in each case in form and substance satisfactory to the
      Administrator and the Funding Agent.
    

    
                 (d)  The Issuer, the Trustee, the Seller and the other
      parties to the Transaction Documents shall have executed and delivered
      to the Administrator and the Funding Agent this Note Purchase Agreement
      and each other Transaction Document to be executed as of the Restatement
      Date.
    

    
                 (e)  Prior to the Restatement Date, the Issuer and the Seller
      shall have furnished to the Administrator and the Funding Agent such
      further information, certificates and documents as the Administrator or
      the Funding Agent may reasonably request.
    

    
                 (f)  Prior to the Restatement Date, the Administrator and the
      Funding Agent shall have received certified copies of all documents
      evidencing any necessary corporate action, consents and governmental
      approvals (if any) with respect to the Transaction Documents.
    

    
                 (g)  Prior to the Restatement Date, the Administrator and the
      Funding Agent shall have received good standing certificates for the
      Issuer, the Servicer and the Seller issued as of a recent date
      acceptable to Administrator and the Funding Agent by (a) the Secretary
      of State of the jurisdiction of such Person’s incorporation or
      organization, and (b) the Secretary of State of the jurisdiction where
      such Person’s chief executive office and principal place of business are
      located.
    

    
                 (h)  [Reserved].
    

    
      

    

    
      
        

        

      

      
        
          23
        

        
          

        

      

      
        

        

      

    

    
                 (i)  Prior to the Restatement Date, each of the Administrator
      and the Funding Agent shall have received all outstanding Fees due and
      payable to it pursuant to its related Fee Letter, including all accrued
      attorneys’ fees and expenses.
    

    
                 (j)  No action shall have been taken and no statute, rule,
      regulation or order shall have been enacted, adopted or issued by any
      Governmental Authority that would, as of the Restatement Date, prevent
      the issuance or sale of the Notes; and no injunction or order of any
      Federal, state or foreign court shall have been issued that would, as of
      the Restatement Date, prevent the issuance or sale of the Notes.
    

    
                 (k)  No Pay Out Event, Potential Pay Out Event, Event of
      Default, Servicer Default or Block Event has occurred and is continuing.
    

    
                 (l)  The representations and  warranties of the Issuer, the
      Servicer and the Seller set forth in this Note Purchase Agreement and
      the other Transaction Documents are true and correct as of the
      Restatement Date (except to the extent they relate to an earlier date or
      later time, and then as of such earlier date or later time).
    

    
                 (m)  All fees due and payable to each Conduit Purchaser, the
      Administrator, the Funding Agent and the Committed Purchaser on or prior
      to the Restatement Date shall have been paid in full.
    

    
                 (n)  To the extent required by any Conduit Purchaser’s
      commercial paper program, a letter from each rating agency rating such
      Conduit Purchaser’s Commercial Paper Notes confirming its rating of such
      Commercial Paper Notes or that such rating will not be withdrawn or
      downgraded after giving effect to this Note Purchase Agreement and the
      transactions contemplated hereby.
    

    
      ARTICLE V.  

REPRESENTATIONS AND WARRANTIES OF THE
      ISSUER, THE SELLER
    

    
      AND THE SERVICER
    

    
      SECTION 5.1  Representations, Warranties and Covenants of
      the Seller and the Issuer.  The Issuer severally represents and
      warrants and the Seller, jointly and severally with the Issuer,
      represent and warrant to the Conduit Purchasers, the Funding Agent, the
      Committed Purchaser and the Administrator, that:
    

    
                 (a)  Organization
      and Good Standing.  Each of the Seller and the Issuer has been duly
      organized and is validly existing and in good standing under the laws of
      the state of organization, with full power and authority to own its
      properties and conduct its business as presently conducted.  Each of the
      Issuer and the Seller is duly qualified to do business and is in good
      standing as a foreign entity (or is exempt from such requirements), and
      has obtained all necessary licenses and approvals, in each jurisdiction
      in which failure to so qualify or to obtain such licenses and approvals
      would be reasonably likely to have a Material Adverse Effect.
    

    
      

    

    
      
        

        

      

      
        
          24
        

        
          

        

      

      
        

        

      

    

    
                 (b)  Power
      and Authority; Due Authorization.  Each of the Seller and the Issuer
      has (a) all necessary power, authority and legal right to (i) execute,
      deliver and perform its obligations under this Note Purchase Agreement
      and each of the other Transaction Documents to which it is a party and
      (b) duly authorized, by all necessary action, the execution, delivery
      and performance of this Note Purchase Agreement and the other
      Transaction Documents to which it is a party, the transactions
      contemplated herein and the borrowing, and the granting of security
      therefor, on the terms and conditions provided in the Indenture.
    

    
                 (c)  No
      Violation.  The consummation of the transactions contemplated by
      this Note Purchase Agreement and the other Transaction Documents and the
      fulfillment of the terms hereof will not (i) conflict with, result in
      any breach of any of the terms and provisions of, or constitute (with or
      without notice or lapse of time or both) a default under, (A) the
      organizational documents of the Issuer or the Seller or (B) any
      indenture, loan agreement, pooling and servicing agreement, receivables
      purchase agreement, mortgage, deed of trust, or other agreement or
      instrument to which the Issuer  or the Seller is a party or by which the
      Issuer or the Seller or any of the Issuer’s or the Seller’s properties
      is bound, (ii) result in or require the creation or imposition of any
      Adverse Claim upon its properties pursuant to the terms of any such
      indenture, loan agreement, pooling and servicing agreement, receivables
      purchase agreement, mortgage, deed of trust, or other agreement or
      instrument, other than pursuant to the terms of the Transaction
      Documents, or (iii) violate any law or any order, rule, or regulation
      applicable to the Issuer or the Seller or of any court or of any
      federal, state or foreign regulatory body, administrative agency, or
      other governmental instrumentality having jurisdiction over, the Issuer
      or the Seller or any of its respective properties.
    

    
                 (d)  Validity
      and Binding Nature.  This Note Purchase Agreement is, and the other
      Transaction Documents to which the Issuer or the Seller is a party when
      duly executed and delivered by the Issuer or the Seller and the other
      parties thereto will be, the legal, valid and binding obligation of the
      Issuer or the Seller, as applicable, enforceable in accordance with
      their respective terms, except as enforceability may be limited by
      applicable bankruptcy, insolvency, reorganization, moratorium or similar
      law affecting creditors’ rights generally and by general principles of
      equity.
    

    
                 (e)  Government
      Approvals.  No authorization or approval or other action by, and no
      notice to or filing with, any governmental authority or regulatory body
      required for the due execution, delivery or performance by the Issuer or
      the Seller of any Transaction Document to which it is a party remains
      unobtained or unfiled, except for the filing of the UCC financing
      statements referred to in Section 15.4 of the Base Indenture.
    

    
                 (f)  Bulk
      Sales.  No transaction contemplated hereby or by the other
      Transaction Documents requires compliance with any “bulk sales” act or
      similar law.
    

    
                 (g)  Margin
      Regulations.  Neither the Seller nor the Issuer is engaged in the
      business of extending credit for the purpose of purchasing or carrying
      margin stock, and no proceeds from the transactions contemplated hereby,
      directly or indirectly, will be used for a purpose that violates, or
      would be inconsistent with, Regulations T, U and X promulgated by the
      Federal Reserve Board from time to time.
    

    
      

    

    
      
        

        

      

      
        
          25
        

        
          

        

      

      
        

        

      

    

    
                 (h)  Perfection.  (i)  On
      the Closing Date and the date of each Increase, the Issuer shall be the
      owner of all of the Receivables and Related Security and Collections and
      proceeds with respect thereto, free and clear of all Adverse Claims.  On
      or prior to the Closing Date and the date of each Increase and each
      recomputation of the Investor Interest, all financing statements and
      other documents required to be recorded or filed in order to perfect and
      protect the Trust Estate against all creditors (other than Secured
      Parties) of, and purchasers (other than Secured Parties) from, the
      Issuer and each Seller will have been (or will have been within ten (10)
      days of the Closing Date) duly filed in each filing office necessary for
      such purpose, and all filing fees and taxes, if any, payable in
      connection with such filings shall have been (or will have been within
      ten (10) days of the Closing Date) paid in full;
    

    
                    (ii)  the Indenture constitutes a valid grant of a
      security interest to the Trustee for the benefit of the Conduit
      Purchasers and the other Secured Parties in all right, title and
      interest of the Issuer in the Receivables, the Related Security and
      Collections and proceeds with respect thereto and all other assets of
      the Trust Estate, now existing or hereafter created or
      acquired.  Accordingly, to the extent the UCC applies with respect to
      the perfection of such security interest, upon the filing of any
      financing statements described in Article 8 of the
      Indenture, and, solely with respect to the Related Security, to the
      extent required for perfection under the relevant UCC, the delivery of
      possession of all instruments, if any, included in such Related Security
      to the Servicer), the Trustee shall have a first priority perfected
      security interest in such property and the proceeds thereof (to the
      extent provided in Section 9-315), subject to Permitted Encumbrances
      and, to the extent the UCC does not apply to the perfection of such
      security interest, all notices filings and other actions required by all
      applicable law have been taken to perfect and protect such security
      interest or lien against and prior to all Adverse Claims with respect to
      the relevant Receivables, Related Security and Collections and proceeds
      with respect thereto and all other assets of the Trust Estate.  Except
      as otherwise specifically provided in the Transaction Documents, neither
      the Issuer nor any Person claiming through or under the Issuer has any
      claim to or interest in the Collection Account; and
    

    
                   (iii)  immediately prior to, and after giving effect to,
      the initial purchase of the Notes and each Increase hereunder, the
      Issuer will be Solvent.
    

    
                 (i)  Offices.  The
      principal place of business and chief executive office of the Issuer is
      located at the address referred to in Section 15.4 of the
      Base Indenture (or at such other locations, notified to the Trustee in
      jurisdictions where all action required thereby has been taken and
      completed).
    

    
      

    

    
      
        

        

      

      
        
          26
        

        
          

        

      

      
        

        

      

    

    
                 (j)  Tax
      Status.  Each of the Issuer and the Seller has filed all tax returns
      (Federal, State and local) required to be filed by it and has paid or
      made adequate provision for the payment of all taxes, assessments and
      other governmental charges then due and payable (including for such
      purposes, the setting aside of appropriate reserves for taxes,
      assessments and other governmental charges being contested in good
      faith).
    

    
                 (k)  Compliance
      with Applicable Laws; Licenses, etc.
    

    
                     (i)  Each of the Issuer and the Seller is in compliance
      with the requirements of all applicable laws, rules, regulations, and
      orders of all governmental authorities, a breach of any of which,
      individually or in the aggregate, would be reasonably likely to have a
      Material Adverse Effect.
    

    
                    (ii)  Neither of the Issuer nor the Seller has failed to
      obtain any licenses, permits, franchises or other governmental
      authorizations necessary to the ownership of its properties or to the
      conduct of its business, which violation or failure to obtain would be
      reasonably likely to have a Material Adverse Effect.
    

    
                 (l)  No
      Proceedings.  Except as described in Schedule I,
    

    
                     (i)  there is no order, judgment, decree, injunction,
      stipulation or consent order of or with any court or other government
      authority to which the Issuer or the Seller is subject, and there is no
      action, suit, arbitration, regulatory proceeding or investigation
      pending, or, to the knowledge of the Issuer or the Seller, threatened,
      before or by any court, regulatory body, administrative agency or other
      tribunal or governmental instrumentality, against the Issuer that,
      individually or in the aggregate, is reasonably likely to have a
      Material Adverse Effect; and
    

    
                    (ii)  there is no action, suit, proceeding, arbitration,
      regulatory or governmental investigation, pending or, to the knowledge
      of the Issuer or the Seller, threatened, before or by any court,
      regulatory body, administrative agency, or other tribunal or
      governmental instrumentality (A) asserting the invalidity of this Note
      Purchase Agreement, the Indenture, the Notes or any other Transaction
      Document, (B) seeking to prevent the issuance of the Notes pursuant to
      the Indenture or the consummation of any of the other transactions
      contemplated by this Indenture or any other Transaction Document or
      (C) seeking to adversely affect the federal income tax attributes of the
      Issuer.
    

    
                 (m)  Investment
      Company Act, Etc.  None of the Seller or the Issuer is, or after
      applying the proceeds of this offering will be, an “investment company”
      within the meaning of the Investment Company Act of 1940, as amended.
    

    
                 (n)  Eligible
      Receivables.  Each Receivable included in the Trust Estate (other
      than any Receivable identified as not being an Eligible Receivable and
      included as such in the calculation of Minimum Issuer Interest) on the
      date of any Monthly Servicer Report shall be an Eligible Receivable on
      such date.  Each Receivable, including Subsequently Purchased
      Receivables, purchased by the Issuer on any Purchase Date shall be an
      Eligible Receivable as of such Purchase Date.
    

    
      

    

    
      
        

        

      

      
        
          27
        

        
          

        

      

      
        

        

      

    

    
                 (o)  Receivables
      Schedule.  The Receivable File is a true and correct schedule of the
      Receivables included in the Trust Estate.
    

    
                 (p)  ERISA.  (i)
      Each of the Seller, the Issuer and its respective ERISA Affiliates is in
      compliance in all material respects with ERISA unless any failure to so
      comply could not reasonably be expected to have a Material Adverse
      Effect and (ii) no Lien exists in favor of the Pension Benefit Guaranty
      Corporation on any of the Receivables. No ERISA Event has occurred with
      respect to Title IV Plans of the Issuer.  No ERISA Event has occurred
      with respect to Title IV plans of the Seller’s or the Issuer’s ERISA
      Affiliates that have an aggregate Unfunded Pension Liability equal to or
      greater than $1,000,000.  No ERISA Event has occurred with respect to a
      Multiemployer Plan (as defined in the Base Indenture) of the Issuer or
      its ERISA Affiliates.
    

    
                 (q)  Accuracy
      of Information.  All information heretofore furnished by, or on
      behalf of, the Seller or the Issuer to the Trustee or any of the
      Noteholders in connection with any Transaction Document, or any
      transaction contemplated thereby, is true and accurate in every material
      respect (without omission of any information necessary to prevent such
      information from being materially misleading).
    

    
                 (r)  No
      Material Adverse Change.  Since the date of the Seller’s most recent
      form 10-K filed with the Securities and Exchange Commission, there has
      been no material adverse change in the collectibility of the Receivables
      or the Issuer’s (i) financial condition, business, operations or
      prospects or (ii) ability to perform its obligations under any
      Transaction Document.
    

    
                 (s)  Trade
      Names and Subsidiaries.  Set forth on Schedule II
      hereto is a complete list of trade names of the Seller for the six year
      period preceding the Closing Date.  The Issuer has no Subsidiaries and
      does not own or hold, directly or indirectly, any equity interest in any
      Person.
    

    
                 (t)  Notes.  The
      Notes have been duly and validly authorized, and, when executed and
      authenticated in accordance with the terms of the Indenture, and
      delivered to and paid for in accordance with this Note Purchase
      Agreement, will be duly and validly issued and outstanding and will be
      entitled to the benefits of the Indenture.
    

    
                 (u)  Sales
      by Seller.  (a) Each sale of Receivables by the Seller to the Issuer
      shall have been effected under, and in accordance with the terms of, the
      Purchase Agreement, including the payment by the Issuer to the Seller of
      an amount equal to the purchase price therefor as described in the
      Purchase Agreement, and each such sale shall have been made for
      “reasonably equivalent value” (as such term is used under Section 548 of
      the Federal Bankruptcy Code) and not for or on account of “antecedent
      debt” (as such term is used under Section 547 of the Federal Bankruptcy
      Code) owed by the Issuer to the Seller.
    

    
      

    

    
      
        

        

      

      
        
          28
        

        
          

        

      

      
        

        

      

    

    
                 (v)  Use
      of Proceeds.  No proceeds of any Notes will be used by the Issuer to
      acquire any security in any transaction which is subject to Section 13
      or 14 of the Securities Exchange Act of 1934, as amended.
    

    
                 (w)  Reaffirmation
      of Representations and Warranties by the Issuer.  On the Closing
      Date and on each Business Day, the Issuer shall be deemed to have
      certified that all representations and warranties described in Section
      7.1 of the Indenture are true and correct on and as of such day as
      though made on and as of such day (except to the extent they relate to
      an earlier date or later time, and then as of such earlier date or later
      time).
    

    
      SECTION 5.2  Reaffirmation of Representations and
      Warranties by the Issuer.  On the Closing Date, the Restatement
      Date, on each Business Day and on each day that an Increase is made
      hereunder, the Issuer, by accepting the proceeds thereof, shall be
      deemed to have certified that all representations and warranties
      described in Section 5.1 hereof and Section 7.1 of the
      Indenture are true and correct on and as of such day as though made on
      and as of such day (except to the extent they relate to an earlier date
      or later time, and then as of such earlier date or later time).
    

    
      SECTION 5.3  Representations and Warranties by the Servicer.  On
      March 16, 2010 and on each Closing Date (as defined in the Base
      Indenture), after giving effect to all amendments, supplements and
      modifications made thereto from time to time, the Servicer shall be
      deemed to have certified that all representations and warranties by it
      in Section 2.08 of the Servicing Agreement are true and correct
      on and as of such day as though made on and as of such day (except to
      the extent they relate to an earlier date or later time, and then as of
      such earlier date or later time).
    

    
      ARTICLE VI.  

REPRESENTATIONS AND WARRANTIES
WITH
      RESPECT TO THE ADMINISTRATOR,
THE FUNDING AGENT AND THE CONDUIT
      PURCHASERS
    

    
      SECTION 6.1  Securities Laws; Transfer Restrictions.  Each
      of the Administrator, the Funding Agent and each Conduit Purchaser
      represents and warrants to the Issuer, for itself, as of the date hereof
      (or as of a subsequent date on which a successor or assign of any
      Purchaser shall become a party hereto), and agrees that:
    

    
                 (a)  it has (i) reviewed the Indenture (including the
      schedule and exhibits thereto) and all other documents which have been
      provided by the Issuer to it with respect to the transactions
      contemplated by the Indenture, (ii) participated in due diligence
      sessions with the Servicer and (iii) had an opportunity to discuss the
      Issuer’s and the Seller’s businesses, management and financial affairs,
      and the terms and conditions of the proposed purchase with the Issuer
      and the Servicer and their respective representatives;
    

    
      

    

    
      
        

        

      

      
        
          29
        

        
          

        

      

      
        

        

      

    

    
                 (b)  it is an “accredited investor” within the meaning of
      Rule 501(a)(1), (2), (3) or (7) of Regulation D under the Securities Act
      and has sufficient knowledge and experience in financial and business
      matters to be capable of evaluating the merits and risks of investing
      in, and it is able and prepared to bear the economic risk of investing
      in, the Notes;
    

    
                 (c)  it is purchasing the Notes for its own account, or for
      the account of one or more “accredited investors” within the meaning of
      Rule 501(a)(1), (2), (3) or (7) of Regulation D under the Securities Act
      that meet the criteria described in subsection (b) and for
      which it is acting with complete investment discretion, for investment
      purposes only and not with a view to distribution;
    

    
                 (d)  it understands that (i) the Notes have not been and will
      not be registered or qualified under the Securities Act or any
      applicable state securities laws or the securities laws of any other
      jurisdiction and is being offered only in a transaction not involving
      any public offering within the meaning of the Securities Act, (ii) the
      Issuer is not required to so register or qualify the Notes, and
      (iii) the Notes may be resold, pledged or otherwise transferred only
      (A) to the Issuer, (B) to a “qualified institutional buyer” (as defined
      in Rule 144A under the Securities Act) in a transaction meeting the
      requirements of Rule 144A under the Securities Act, or (C) in a
      transaction otherwise exempt from the registration requirements of the
      Securities Act, in each case in accordance with the provisions of the
      Indenture and any applicable securities laws of any state of the United
      States or any other jurisdiction;
    

    
                 (e)  it understands that upon original issuance thereof, and
      until such time as the same may no longer be required under the
      applicable requirements of the Securities Act, the certificate
      evidencing the Notes (and all securities issued in exchange therefor or
      substitution thereof) shall bear a legend substantially in the form set
      forth in the form of Notes included as an exhibit to the Series
      Supplement;
    

    
                 (f)  it understands that the Registrar and Transfer Agent for
      the Notes will not be required to accept for registration of transfer
      the Notes acquired by it, except upon presentation of, if applicable,
      the certificate and, if applicable, the opinion described in the Series
      Supplement; and
    

    
                 (g)  it will obtain from any transferee of the Notes (or any
      interest therein) substantially the same representations, warranties and
      agreements contained in this Section 6.1.
    

    
      ARTICLE VII.  

COVENANTS
    

    
      SECTION 7.1  Monthly Noteholders’ Statement; Notice of
      Adverse Effect.  
    

    
                 (a)  The Issuer will cause each Monthly Noteholders’
      Statement pertaining to the Series Supplement to be delivered to each
      Conduit Purchaser and the Committed Purchaser, contemporaneously with
      the delivery thereof to the Trustee.
    

    
      

    

    
      
        

        

      

      
        
          30
        

        
          

        

      

      
        

        

      

    

    
                 (b)  As soon as possible, and in any event within one (1) day
      after the occurrence thereof, the Issuer shall (or shall cause the
      Servicer to) give each Conduit Purchaser and the Committed Purchaser
      written notice of each Pay Out Event, Potential Pay Out Event, Event of
      Default, Servicer Default or Block Event.
    

    
      SECTION 7.2  Further Assurances.  The Issuer agrees to
      take any and all acts and to create any and all further instruments
      necessary or reasonably requested by the Administrator and the Funding
      Agent to fully effect the purposes of this Note Purchase Agreement.
    

    
      SECTION 7.3  Modifications to Transaction Documents.  
    

    
                 (a)  Notwithstanding anything in the Indenture to the
      contrary, no provision of this Note Purchase Agreement, the Indenture,
      the Servicing Agreement or the Purchase Agreement may be amended, waived
      or otherwise modified without (i) the prior written consent of the
      Issuer and the Required Persons, (ii) the Issuer providing (or causing
      the Servicer to provide) to each Rating Agency then rating any
      outstanding Series of the Issuer prior notice of any such amendment,
      waiver or modification, and (iii) if such amendment is reasonably
      expected to have a material effect on any Holder of any rated Series of
      Notes, without satisfying the Rating Agency Condition with respect to
      each such Series of Notes; provided that the consent of all of
      the Noteholders shall be required for (i) any amendment, waiver,
      modification or supplement of any such document described above relating
      to the definitions of “Eligible Receivables,” “Purchase Expiration
      Date,” “Final Purchase Expiration Date,” “Tranche A Expiration Date,”
      “Required Persons,” “Required Reserve Amount,” “Coverage Test” and
      “Maximum Principal Amount” and any defined terms incorporated therein,
      (ii) the reduction or postponement of the time for payment of any fee or
      other amount payable to or on behalf of such Noteholders or (iii) this Section
      7.3.
    

    
                 (b)  The Issuer shall (or shall cause the Servicer to) give
      the Administrator, the Funding Agent, the Committed Purchaser and the
      Conduit Purchasers written notice of any proposed amendment,
      modification or waiver of any provision of the Transaction Documents.
    

    
      SECTION 7.4  Expenses.  Whether or not the Closing
      takes place, except as otherwise expressly provided herein or in the Fee
      Letter, all reasonable costs and expenses incurred in connection with
      this Note Purchase Agreement and the transactions contemplated hereby
      shall be paid by the Issuer.
    

    
      SECTION 7.5  Reorganizations and Transfers.  The Issuer
      shall not enter into any transaction described in subsection 8.3(c)
      of the Indenture unless the Trustee and the Required Persons shall have
      given their prior written consent thereto.
    

    
      SECTION 7.6  Financial Covenants; Ratings.  
    

    
                 (a)  Parent and Issuer shall cause Consolidated Parent to, on
      a consolidated basis with its Subsidiaries, maintain a Total Liabilities
      to Tangible Net Worth Ratio not greater than the ratio set forth below
      for each Fiscal Quarter during the specified period, measured as of the
      last day of each Fiscal Quarter:
    

    
      

    

    
      
        

        

      

      
        
          31
        

        
          

        

      

      
        

        

      

    

    
    	
          
            Period
          

        	
          
            Ratio
          

        
	
          Fiscal Quarter ending January 31, 2010
        	
          2.00:1.00
        
	
          Fiscal Quarter ending April 30, 2010
        	
          2.00:1.00
        
	
          Fiscal Quarters ending July 31, 2010, October 31, 2010 and January
          31, 2011
        	
          1.75:1.00
        
	
          Fiscal Quarter ending April 30, 2011
        	
          1.50:1.00
        
	
          Each Fiscal Quarter thereafter
        	
          1.50:1.00
        

    

    
      Parent and Issuer shall cause Consolidated Parent to, on a consolidated
      basis with its Subsidiaries, maintain a Fixed Charge Coverage Ratio not
      greater than the ratio set forth below for each Fiscal Quarter during
      the specified period, measured as of the last day of each Fiscal Quarter:
    

    
    	
          
            Period
          

        	
          
            Ratio
          

        
	
          Fiscal Quarter ending January 31, 2010
        	
          1.10:1.00
        
	
          Fiscal Quarter ending April 30, 2010
        	
          1.10:1.00
        
	
          Each Fiscal Quarter thereafter
        	
          1.30:1.00
        

    

    
      The Fixed Charge Coverage Ratio and the Total Liabilities to Tangible
      Net Worth Ratio for each Fiscal Quarter shall be reported to the
      Administrator and the Funding Agent as soon as available, and in any
      event no later than the earlier of (i)(a) 45 days after the close of
      each such Fiscal Quarter (other than any Fiscal Quarter ending January
      31) and (b) 90 days after the close of each Fiscal Quarter ending
      January 31 and (ii) the date Parent files its (x) Form 10-Q with
      respect to the related Fiscal Quarter (other than those Fiscal
      Quarters ending January 31) and (y) Form 10-K with respect to the
      related Fiscal Quarter ending January 31, with the Securities and
      Exchange Commission.          
    

    
                 (b)  Notwithstanding anything set forth in Section
      2.04(e) of the Servicing Agreement, the Seller will not permit, at
      any time, Consolidated Net Worth to be less than the sum of (i)
      $109,541,000 plus (ii) 75% of positive Consolidated Net Income generated
      after January 31, 2005 plus (iii) 100% of any capital stock or other
      ownership or profit interest or any securities convertible into or
      exchangeable for capital stock or other ownership or profit interest or
      any warrants, rights or options to acquire the same, issued after
      January 31, 2005.  Any gains attributable to the effects of Statements
      of Financial Accounting Standards Nos. 125/140 and/or 133, or their
      successors, and any losses attributable thereto, shall be excluded in
      determining Consolidated Net Worth for purposes of this Section.  The
      calculation of Consolidated Net Worth shall be adjusted for the
      cumulative effect of the adoption of Statement of Financial Accounting
      Standard No. 167 as of January 31, 2010.
    

    
      For the avoidance of doubt, the parties hereto hereby agree that each
      covenant set forth in Sections 7.6(a) and (b) shall be
      tested by the Seller quarterly.
    

    
      

    

    
      
        

        

      

      
        
          32
        

        
          

        

      

      
        

        

      

    

    
                          (c)       Each of the Administrator and the Funding
      Agent shall have the right at any time after July 31, 2010 to request
      that a public rating of the Notes (the “Required Rating”)
      be obtained from one nationally recognized credit rating agency
      acceptable to the Administrator or the Funding Agent, as
      applicable.  The Issuer agrees that it shall cooperate with the
      Administrator’s and the Funding Agent’s efforts, as applicable, to make
      a full and complete application and shall comply with all requirements
      of the credit rating agency to obtain the Required Rating, and shall
      provide each such Person, for distribution to the applicable credit
      rating agencies, any information requested by such credit rating
      agencies for purposes of providing the Required Rating.  Any such
      request (a “Ratings Request”) shall be in writing, and the
      Issuer shall obtain the Required Rating within 60 days following the
      date of such Ratings Request (upon written notice by the Administrator
      or the Funding Agent, as applicable, to the Issuer).  If the Issuer can
      not obtain the Required Rating from any nationally recognized credit
      rating agency following the Administrator’s or the Funding Agent’s
      request therefor and the Issuer has otherwise complied with this Section
      7.6(c), the Administrator or the Funding Agent may direct the Issuer
      to request that the Required Rating be obtained from another nationally
      recognized credit rating agency acceptable to the Administrator or the
      Funding Agent, as applicable. The Issuer shall pay all fees payable to
      each credit rating agency in connection with such credit rating agency’s
      providing of the Required Rating, and all ongoing fees payable to each
      such credit rating agency for its continued monitoring of the Required
      Rating.  Nothing in this Section 7.6(c) shall preclude
      any Affected Party from demanding compensation from the Issuer pursuant
      to Section 8.2 hereof at any time it is permitted to so request
      pursuant thereto and without regard to whether the Required Rating shall
      have been obtained, or shall require any Affected Party to obtain any
      ratings on the Notes prior to demanding any compensation from the Issuer.
    

    
      SECTION 7.7  ABL Covenants.  Prior to the execution of
      any loan facility secured by the indebtedness of any obligor under a
      Pool Contract other than the Receivables (each an “ABL
      Receivable”) (an “ABL Facility”), the Issuer and
      the Seller shall deliver or cause to be delivered to the Administrator
      and the Funding Agent the following agreements in form and substance
      satisfactory to the Administrator and the Funding Agent: (a) an
      intercreditor agreement among the Trustee and the parties granted a
      security interest in the ABL Receivables pursuant to such ABL Facility,
      and any necessary consents related thereto and (b) an agreement
      detailing the procedures by which the Parent and its Subsidiaries that
      originate Pool Contracts agree which customers of such Persons approved
      for credit will be allocated among such originators for purposes of
      providing such credit.  
    

    
      SECTION 7.8  Most Favored Lender.  The Issuer and the
      Seller hereby agree to promptly notify the Administrator, Funding Agent
      and each Rating Agency then rating any outstanding Series of the Issuer
      of any amendment or modification to the transaction documents related to
      any ABL Facility. The Issuer and the Seller hereby agree that if an ABL
      Facility is entered into on or after the date hereof or if any
      amendments thereto are executed from time to time that contains any
      credit enhancement levels, required reserve percentage, covenant, event
      of default, servicer default, trigger event, remedy or any similar items
      or definitional terms related thereto (other than pricing) that are more
      favorable (in the determination of the Administrator and the Funding
      Agent) than those contained in the Transaction Documents (the “More
      Favorable Provisions”), then the Transaction Documents shall be
      deemed to be similarly amended, mutatis mutandis, for the
      benefit of the Administrator, the Funding Agent, the Committed Purchaser
      and each Conduit Purchaser to the extent permitted under the Transaction
      Documents.  The Issuer and the Seller hereby agree to document any
      deemed amendment to the Transaction Documents in writing, if requested
      to do so by the Administrator and Funding Agent and permitted by the
      Transaction Documents.
    

    
      

    

    
      
        

        

      

      
        
          33
        

        
          

        

      

      
        

        

      

    

    
      SECTION 7.9  Restrictions on Amendments.  The Issuer
      and the Seller hereby agree that it will not, and will not permit any of
      their Affiliates to, enter into any agreement with any Person that
      restricts the Issuer’s and the Seller’s ability to amend, modify and
      supplement the Transaction Documents other than as restricted by the
      Transaction Documents.
    

    
      SECTION 7.10  Independent Manager.  
    

    
      (a) Notwithstanding anything to the contrary set forth in any
      Transaction Document or any organizational document of the Issuer
      (including, without limitation, the Limited Partnership Agreement of the
      Issuer) or the General Partner (including, without limitation, the
      General Partner’s operating agreement), the Issuer shall ensure that not
      less than one Manager of the General Partner shall be an individual who
      (A) has (1) prior experience as an Independent Manager for a corporation
      or limited liability company whose organizational documents required the
      unanimous consent of all Independent Managers thereof before such entity
      could consent to the institution of bankruptcy or insolvency proceedings
      against it or could file a petition seeking relief under any applicable
      federal or state law relating to bankruptcy and (2) at least three years
      of employment experience with one or more of AMACAR Group, L.L.C., Lord
      Securities Corporation, Global Securitization Services LLC or one or
      more other nationally recognized entities that provide, in the ordinary
      course of their respective businesses, advisory, management or placement
      services to issuers of securitization or structured finance instruments,
      agreements or securities (each, a “Securitization Management
      Provider”), (B) is employed by a Securitization Management Provider,
      and (C) is not, and has not been for a period of five years prior to his
      or her appointment as an Independent Manager of the General Partner or
      any affiliate thereof: (1) a stockholder (whether direct, indirect or
      beneficial (other than as part of a diversified index or mutual fund)),
      affiliate, associate, advisor or supplier of the Seller or any of its
      respective Affiliates, (2) other than in his or her capacity as
      Independent Manager of the General Partner or any other
      bankruptcy-remote, special purpose Affiliate of the Seller,
      a director, officer, employee, partner, manager, attorney
      or consultant of the Seller or any of its Affiliates (the Seller and its
      Affiliates other than the Issuer or the General Partner being
      hereinafter referred to as the “Parent Group”), (3) a
      person related to any person referred to in clauses (1) or (2)
      above, (4) a person or other entity controlling or under common control
      with any such stockholder, partner, manager, supplier, employee, officer
      or director or (5) a trustee, conservator or receiver for any member of
      the Parent Group (such an individual meeting the requirements set forth
      above, an “Independent Manager”) (it being understood that,
      as used in this Section 7.11, “control” means the possession
      directly or indirectly of the power to direct or cause the direction of
      management policies or activities of a person or entity whether through
      ownership of voting securities, by contract or otherwise).  The Issuer
      shall cause the operating agreement of the General Partner to provide:
      (i) for the same definition of “Independent Manager” as set forth above,
      (ii) that such Person’s Board of Directors shall not approve, or take
      any other action to cause the filing of, a voluntary bankruptcy petition
      with respect to the Issuer or any of its partners unless the Independent
      Manager shall approve the taking of such action in writing before the
      taking of such action and (iii) that the provisions required by clauses
      (i) and (ii) of this sentence cannot be amended without the
      prior written consent of the Independent Manager, the Administrator and
      the Funding Agent.
    

    
      

    

    
      
        

        

      

      
        
          34
        

        
          

        

      

      
        

        

      

    

    
      (b)       At all times that this Note Purchase Agreement is in effect,
      the Issuer will provide for not less than ten (10) Business Days’ prior
      written notice to the Administrator and the Funding Agent of any
      removal, replacement or appointment of any Independent Manager of the
      General Partner, such notice to include the identity of the proposed
      replacement Independent Manager, together with a certification that such
      replacement satisfies the requirements for an Independent Manager set
      forth in this Note Purchase Agreement and the operating agreement of the
      General Partner.
    

    
      SECTION 7.11  Obligor Address Reports.  The Servicer
      hereby agrees to, prior to June 30, 2010, and on or prior to each 90-day
      anniversary of such date, deliver to the Back-Up Servicer, the
      Administrator and the Funding Agent a certificate certifying that the
      Servicer (i) has, within the most recent ninety days, verified the
      address for each Obligor that has not received a delinquency mailing or
      statement or that has not had its address verified by other means within
      such ninety day period, using an independent third-party acceptable to
      the Administrator and the Funding Agent and (ii) has made the results of
      such verification a part of its detailed servicing records.
    

    
      SECTION 7.12  Monthly Obligor Statement Report; In-Store
      Collection Reduction; Back-Up Servicing.  
    

    
      (a)       On or before July 31, 2010, the Servicer shall test and report
      its findings in writing (in reasonable detail) to the Issuer, the
      Administrator and the Funding Agent (in each case in form and substance
      satisfactory to the Administrator and the Funding Agent) with respect to
      the Servicer’s expected impact of the mailing by it or any sub-servicer
      of monthly balance statements (each, a “Monthly Obligor
      Statement”) to all existing and new Obligors in respect of the
      outstanding balances of Receivables.  Following July 31, 2010, within 10
      days after the receipt by the Servicer or the Issuer of a direction from
      the Required Persons and the Trustee to execute and deliver an amendment
      to the Servicing Agreement or a modification to its Credit and
      Collection Policy providing for the Servicer to send Monthly Obligor
      Statements to new or existing Obligors with respect to such Obligor’s
      Receivables during each month that any such Obligor owes any amount on a
      Receivable, each of the Servicer and the Issuer shall (i) execute and
      deliver such amendment or make such modification, in either case in form
      and substance satisfactory to the Administrator and the Funding Agent
      and (ii) use its best efforts to obtain all required consents (including
      the satisfaction of the Rating Agency Condition, if required) in
      connection with such amendment or modification; provided, however,
      that the Issuer and the Servicer shall not be required to make any
      payment (other than legal and rating agency fees and expenses) to any
      Noteholder of any Series, the Administrator or the Funding Agent as a
      condition to consent of such amendment.  For the avoidance of doubt, any
      failure by any party to execute such amendment or make such
      modification, in either case in form and substance reasonably
      satisfactory to the Administrator and the Funding Agent, or any failure
      of any such amendment or modification to become effective, in either
      case within 10 days following receipt of the direction to the Servicer
      or the Issuer by the Required Persons and the Trustee to execute and
      deliver such amendment or make such modification shall constitute a
      “Series 2002-A Payout Event” as set forth in Section
      9(a)(ii) of the Series Supplement (except if the Issuer and the
      Servicer have used and continue to use their best efforts to obtain all
      required consents in connection with such amendment or modification
      (including the satisfaction of the Rating Agency Condition, if
      required), as determined by the Administrator and the Funding Agent in
      their sole discretion); provided, however, that the Issuer
      and the Servicer shall not be required to make any payment (other than
      legal and rating agency fees and expenses) to any Noteholder of any
      Series, the Administrator or the Funding Agent as a condition to consent
      of such amendment.
    

    
      

    

    
      
        

        

      

      
        
          35
        

        
          

        

      

      
        

        

      

    

    
      (b)         On or before July 31, 2010, the Servicer shall deliver to
      the Issuer, the Administrator and the Funding Agent a comprehensive
      written plan outlining (in reasonable detail) the timing and necessary
      steps to be taken in order to implement an Obligor payment system
      designed to significantly reduce or eliminate the ability of any Obligor
      to make payments in respect of Receivables in retail stores owned or
      operated by the Seller or any of its Affiliates (the “Non-POS
      System”), which report shall include a description of the expected
      impact on the Servicer’s collection on Receivables.
    

    
      (c)       If an Enhanced Back-Up Servicing Trigger occurs, the Issuer,
      the Seller and the Servicer each agree to promptly thereafter, at the
      direction of the Back-Up Servicer and the Required Persons (and if
      applicable, the Trustee), enter into amendments to one or more
      Transaction Documents (including, without limitation, the Servicing
      Agreement and the Back-Up Servicing Agreement (each such amendment, a
      “Servicing Amendment”, and collectively, the “Servicing Amendments”)),
      which shall provide for: (i) the immediate implementation of semi-annual
      on-site operational inspections and reviews by the Back-Up Servicer, at
      the Servicer’s expense, of the Servicer’s operations and systems with
      respect to its servicing of the Receivables, (ii) the prompt
      implementation of the Non-POS System, (iii) the prompt identification
      and engagement of a potential subservicer and (iv) the prompt completion
      and maintenance of a data map of the Servicer’s records and systems with
      respect to all information related to the Receivables and the servicing
      thereof for use by the potential successor Servicer and subservicer
      which system shall be updated and tested quarterly thereafter, in each
      case in form and substance reasonably satisfactory to the Administrator
      and the Funding Agent (it being understood and agreed that none of the
      Administrator, the Funding Agent, the Conduit Purchaser, the Committed
      Purchaser, Three Pillars nor any Noteholder shall have any obligation
      whatsoever to enter into any Servicing Amendment).  If an Enhanced
      Back-Up Servicing Trigger occurs, each of the Issuer, the Seller and the
      Servicer shall use its best efforts to obtain all required consents
      (including the satisfaction of the Rating Agency Condition, if required)
      in connection with each Servicing Amendment; provided, however,
      that the Issuer, the Seller and the Servicer shall not be required to
      make any payment (other than legal and rating agency fees and expenses)
      to any Noteholder of any Series, the Administrator or the Funding Agent
      as a condition to consent of such amendment.  For the avoidance of
      doubt, any failure by any party to execute any Servicing Amendment, in
      form and substance reasonably satisfactory to the Administrator and the
      Funding Agent, or any failure of any such Servicing Amendment to become
      effective, in either case within 10 days following receipt of the
      direction to the Seller, the Servicer or the Issuer by the Back-Up
      Servicer and the Required Persons (and if applicable, the Trustee) to
      execute and deliver such Servicing Amendment shall constitute a “Series
      2002-A Payout Event” as set forth in Section 9(a)(ii) of
      the Series Supplement (except if the Issuer, the Seller and the Servicer
      have used and continue to use their best efforts to obtain all required
      consents in connection with such Servicing Amendment (including the
      satisfaction of the Rating Agency Condition, if required), as determined
      by the Administrator and the Funding Agent in their sole discretion); provided,
      however, that the Issuer, the Seller and the Servicer shall not
      be required to make any payment (other than legal and rating agency fees
      and expenses) to any Noteholder of any Series, the Administrator or the
      Funding Agent as a condition to consent of such amendment.
    

    
      

    

    
      
        

        

      

      
        
          36
        

        
          

        

      

      
        

        

      

    

    
      SECTION 7.13  Servicer Inspections.  The Servicer
      hereby agrees that, notwithstanding anything to the contrary set forth
      in any Transaction Document, it shall promptly permit, and bear the
      expense of, one inspection per calendar year (or, if a Servicer Default,
      Pay Out Event or Enhanced Back-Up Servicing Trigger has occurred, two
      inspections per calendar year) of the Servicer’s operations and systems
      directly or indirectly used in connection with the performance of its
      duties as the Servicer and relating to the servicing or collection of
      Receivables (including, without limitation, prompt access to the
      Servicer’s and any sub-servicer’s premises, the Receivables, the Records
      and the Receivable Files) (each such inspection, a “Servicer
      Inspection”), to be performed by the Back-Up Servicer (or any of its
      duly authorized representatives, attorneys, consultants or
      auditors).  The Servicer agrees to promptly provide the Back-Up Servicer
      reasonable access to the Servicer’s premises and management upon
      reasonable notice during normal business hours, for the purpose and
      effect of facilitating the Back-Up Servicer’s ability to arrange or
      conduct any Servicer Inspection.
    

    
      ARTICLE VIII.  

INDEMNIFICATION
    

    
      SECTION 8.1  Indemnification.  The Seller and the
      Issuer, jointly and severally, agree to indemnify and hold harmless the
      Administrator, the Funding Agent, the Committed Purchaser, each Conduit
      Purchaser, each Liquidity Bank, each Credit Bank, each Bank, each of
      such Banks’ Affiliates and each of their respective successors,
      transferees, participants and assigns and all officers, directors,
      shareholders, controlling persons, employees and agents of any of the
      foregoing (each of the foregoing Persons being individually called an “Indemnified
      Party”), forthwith on demand, from and against any and all damages,
      losses, claims, liabilities and related costs and expenses, including
      reasonable attorneys’ fees and disbursements (all of the foregoing being
      collectively called “Indemnified Amounts”) awarded against
      or incurred by any of them arising out of or relating to any Transaction
      Document or the transactions contemplated thereby, any commingling of
      funds (whether or not permitted hereunder), or the use of proceeds
      therefrom by the Issuer, including (without limitation) in respect of
      the Initial Purchase Price or any Increases or in respect of any
      Receivable; excluding, however, (a) Indemnified Amounts to
      the extent determined by a court of competent jurisdiction to have
      resulted from gross negligence or willful misconduct on the part of any
      Indemnified Party or its agent or subcontractor (BUT EXPRESSLY EXCLUDING
      FROM THIS CLAUSE (a), AND EXPRESSLY INCLUDING IN THE INDEMNITY SET FORTH
      IN THIS SECTION 8.1, INDEMNIFIED AMOUNTS ATTRIBUTABLE TO THE
      ORDINARY, SOLE OR CONTRIBUTORY NEGLIGENCE OF SUCH INDEMNIFIED PARTY, IT
      BEING THE INTENT OF THE PARTIES THAT, TO THE EXTENT PROVIDED IN THIS SECTION
      8.1, INDEMNIFIED PARTIES SHALL BE INDEMNIFIED FOR THEIR OWN
      ORDINARY, SOLE OR CONTRIBUTORY NEGLIGENCE NOT CONSTITUTING GROSS
      NEGLIGENCE OR WILLFUL MISCONDUCT), and (b) any tax upon or measured by
      net income (except those described in Section 8.1) on any
      Indemnified Party.
    

    
      

    

    
      
        

        

      

      
        
          37
        

        
          

        

      

      
        

        

      

    

    
      SECTION 8.2  Increased Costs.
    

    
                 (a)  If after September 10, 2007, the adoption of any law or
      bank regulatory guideline or any amendment or change in the
      interpretation of any existing or future law or bank regulatory
      guideline by any Official Body charged with the administration,
      interpretation or application thereof, or the compliance with any
      directive of any Official Body (in the case of any bank regulatory
      guideline, whether or not having the force of law), other than laws,
      interpretations, guidelines or directives relating to Taxes:
    

    
                     (i)  shall impose, modify or deem applicable any reserve,
      special deposit or similar requirement (including, without limitation,
      any such requirement imposed by the Board of Governors of the Federal
      Reserve System) against assets of, deposits with or for the account of,
      or credit extended by, an Affected Party or shall impose on any Affected
      Party or on the United States market for certificates of deposit or the
      London interbank market any other condition affecting this Note Purchase
      Agreement, the other Transaction Documents, the ownership, maintenance
      or financing of the Notes, the Receivables, any other assets of the
      Trust Estate or payments of amounts due hereunder or its obligation to
      advance funds hereunder or under the other Transaction Documents; or
    

    
                    (ii)  imposes upon any Affected Party any other expense
      deemed by such Affected Party to be material (including, without
      limitation, reasonable attorneys’ fees and expenses, and expenses of
      litigation or preparation therefor in contesting any of the foregoing)
      with respect to this Note Purchase Agreement, the other Transaction
      Documents, the ownership, maintenance or financing of the Notes, the
      Receivables, any other assets of the Trust Estate, or payments of
      amounts due hereunder or its obligation to advance funds hereunder or
      otherwise in respect of this Note Purchase Agreement or the other
      Transaction Documents,
    

    
      and the result of any of the foregoing is to increase the cost to or
      reduce the return of such Affected Party with respect to this Note
      Purchase Agreement, the other Transaction Documents, the ownership,
      maintenance or financing of the Notes, the Receivables, any other assets
      of the Trust Estate, the obligations hereunder, the funding of any
      Increases hereunder or under the other Transaction Documents, by an
      amount reasonably deemed by such Affected Party to be material, then, on
      the first Payment Date which is not less than three Business Days after
      demand by such Affected Party through the Administrator or the Funding
      Agent, as applicable, the Issuer shall pay to such Affected Party such
      additional amount or amounts as will compensate such Affected Party for
      such increased cost or reduction.  In making demand hereunder, the
      applicable Affected Party shall submit to the Issuer a certificate as to
      such increased costs incurred which shall provide in detail the basis
      for such claim which certificate shall be conclusive and binding for all
      purposes absent manifest error; provided, however, that no
      such Affected Party shall be required to disclose any confidential or
      tax planning information in any such certificate.
    

    
      

    

    
      
        

        

      

      
        
          38
        

        
          

        

      

      
        

        

      

    

    
                 (b)  If any Affected Party shall have determined that after
      the Closing Date, the adoption of any applicable law or bank regulatory
      guideline regarding capital adequacy, or any change therein, or any
      change in the interpretation thereof by any Official Body, or any
      directive regarding capital adequacy (in the case of any bank regulatory
      guideline, whether or not having the force of law) of any such Official
      Body, has or would have, due to an increase in the amount of capital
      required to be maintained by such Affected Party, the effect of reducing
      the rate of return on capital of such Affected Party as a consequence of
      such Affected Party’s obligations hereunder or with respect hereto to a
      level below that which such Affected Party could have achieved but for
      such adoption, change, request or directive (taking into consideration
      its policies with respect to capital adequacy) by an amount reasonably
      deemed by such Affected Party to be material, then from time to time, on
      the first Payment Date which is not less than ten (10) Business Days
      after demand by such Affected Party through the Administrator or the
      Funding Agent, as applicable, the Issuer shall pay to such Affected
      Party such additional amount or amounts as will compensate such Affected
      Party for such reduction.  In making demand hereunder, the applicable
      Affected Party shall submit to the Issuer a certificate as to such
      increased costs incurred which shall provide in reasonable detail the
      basis for such claim which certificate shall be conclusive and binding
      for all purposes absent manifest error; provided, however,
      that no such Affected Party shall be required to disclose any
      confidential or tax planning information in any such certificate.
    

    
                 (c)  If an Accounting Based Consolidation Event shall at any
      time occur then, on the first Payment Date which is not less than three
      Business Days after demand by such Affected Party through the
      Administrator or the Funding Agent, as applicable, the Issuer shall pay
      such amounts as such Affected Party reasonably determines will
      compensate or reimburse the Affected Party for any resulting (i) fee,
      expense or increased cost charged to, incurred or otherwise suffered by
      such Affected Party, (ii) reduction in the rate of return on such
      Affected Party’s capital or reduction in the amount of any sum received
      or receivable by such Affected Party or (iii) opportunity cost, internal
      capital charge or other imputed cost determined by such Affected Party
      to be allocable to Issuer or the transactions contemplated in this
      Agreement in connection therewith.  Amounts under this Section
      10.5 may be demanded at any time without regard to the timing of
      issuance of any financial statement by company or by any Affected
      Party.  In making demand hereunder, the applicable Affected Party shall
      submit to the Issuer a certificate as to such increased costs incurred
      which shall provide in reasonable detail the basis for such claim which
      certificate shall be conclusive and binding for all purposes absent
      manifest error; provided, however, that no such Affected
      Party shall be required to disclose any confidential or tax planning
      information in any such certificate.
    

    
      

    

    
      
        

        

      

      
        
          39
        

        
          

        

      

      
        

        

      

    

    
      SECTION 8.3  Indemnity for Taxes.   All payments made
      by the Issuer to the Administrator or the Funding Agent for the benefit
      of any related Conduit Purchaser or the Committed Purchaser under this
      Note Purchase Agreement or any other Transaction Document shall be made
      free and clear of, and without deduction or withholding for or on
      account of, any present or future stamp or similar taxes, levies,
      imposts, duties, charges, fees, deductions or withholdings, now or
      hereafter imposed, levied, collected, withheld or assessed by any
      Official Body, excluding (i) taxes that would not have been imposed if
      the Affected Party had timely complied with the requirements of subsection
      8.3(b) hereof, and (ii) taxes imposed on the net income of the
      Administrator, the Funding Agent or any other Affected Party, in each
      case imposed by any jurisdiction under the laws of which the
      Administrator, the Funding Agent or such Affected Party is organized or
      any political subdivision or taxing authority thereof or therein (all
      such nonexcluded taxes, levies, imposts, duties, charges, fees,
      deductions or withholdings, collectively or individually, “Taxes”).  If
      any such Taxes are required to be withheld from any amounts payable to
      the Administrator, the Funding Agent or any Affected Party hereunder,
      the amounts so payable to the Administrator, the Funding Agent or such
      Affected Party shall be increased to the extent necessary to yield to
      the Administrator, the Funding Agent or such Affected Party (after
      payment of all Taxes) all amounts payable hereunder at the rates or in
      the amounts specified in this Note Purchase Agreement and the other
      Transaction Documents.  The Issuer shall indemnify the Administrator,
      the Funding Agent and any such Affected Party for the full amount of any
      such Taxes on the first Payment Date which is not less than ten (10)
      days after the date of written demand therefor by the Administrator or
      the Funding Agent, as applicable.
    

    
                 (a)  Each Affected Party that is a Non-United States Person
      shall:
    

    
                     (i)  deliver to the Issuer and the Administrator or the
      Funding Agent, as applicable, two duly completed copies of IRS Form W-8
      BEN or Form W-8 ECI, or successor applicable form, as the case may be;
    

    
                    (ii)  deliver to the Issuer and the Administrator or the
      Funding Agent, as applicable, two (2) further copies of any such form or
      certification on or before the date that any such form or certification
      expires or becomes obsolete and after the occurrence of any event
      requiring a change in the most recent form previously delivered by it to
      the Issuer; and
    

    
                   (iii)  obtain such extensions of time for filing and
      complete such forms or certifications as may reasonably be requested by
      the Issuer, the Administrator or the Funding Agent;
    

    
      unless, in any such case, an event (including, without limitation, any
      change in treaty, law or regulation) has occurred prior to the date on
      which any such delivery would otherwise be required which, regardless of
      the identity of the Affected Party, renders all such forms inapplicable
      or which, regardless of the identity of the Affected Party, would
      prevent such Affected Party from duly completing and delivering any such
      form with respect to it, and such Affected Party so advises the Issuer
      and the Administrator or the Funding Agent, as applicable.  Each such
      Affected Party so organized shall certify in the case of an IRS Form W-8
      BEN or IRS Form W-8 ECI (or successor applicable form), that it is
      entitled to receive payments under this Note Purchase Agreement and the
      other Transaction Documents without deduction or withholding of any
      United States federal income taxes.  Each Affected Party which is a
      Non-United States Person represents and warrants to the Issuer and the
      Administrator or the Funding Agent, as applicable, that, as of the date
      of this Note Purchase Agreement (or the date such Person otherwise
      becomes an Affected Party, as the case may be), (i) it is entitled to
      receive all payments hereunder without deduction or withholding for or
      on account of any United States federal Taxes and (ii) it is permitted
      to take the actions described in the preceding sentence under the laws
      and any applicable double taxation treaties of the jurisdiction of its
      head office or any booking office used in connection with this Note
      Purchase Agreement.  Each Affected Party which is a Non-United States
      Person further agrees that, to the extent any form claiming complete or
      partial exemption from withholding and deduction of United States
      federal Taxes delivered under this clause (b) is found to be
      incomplete or incorrect in any material respect, such Affected Party
      shall (to the extent it is permitted to do so under the laws and any
      double taxation treaties of the United States, the jurisdiction of its
      organization and the jurisdictions in which its relevant booking offices
      are located) execute and deliver to each of the Administrator or the
      Funding Agent, as applicable, and the Issuer a complete and correct
      replacement form.
    

    
      

    

    
      
        

        

      

      
        
          40
        

        
          

        

      

      
        

        

      

    

    
                 (b)  Limitations.  Each
      Affected Party agrees to use reasonable efforts to mitigate the
      imposition of any Taxes referred to in this Section 8.3,
      including changing the office of such Affected Party from which any
      Funding Tranche (or portion thereof) funded or maintained by such
      Affected Party or this Note Purchase Agreement is booked; provided
      that such reasonable efforts would not be disadvantageous to such
      Affected Party or result in the imposition of any additional Taxes upon
      such Affected Party or cause such Affected Party, in its good faith
      judgment, to violate one or more of its policies in order to avoid such
      imposition of Taxes.
    

    
      SECTION 8.4  Other Costs, Expenses and Related Matters.
    

    
                 (a)  The Issuer agrees, upon receipt of a written invoice, to
      pay or cause to be paid, and to save the Affected Parties harmless
      against liability for the payment of, all reasonable out-of-pocket
      expenses (including, without limitation, reasonable attorneys’,
      accountants’ and other third parties’ fees and expenses, any filing fees
      and expenses incurred by officers or employees of any of the Affected
      Parties) or intangible, documentary or recording taxes incurred by or on
      behalf of the Affected Parties (i) in connection with the negotiation,
      execution, delivery and preparation of this Note Purchase Agreement, the
      other Transaction Documents and any documents or instruments delivered
      pursuant hereto and thereto and the transactions contemplated hereby or
      thereby (including, without limitation, the perfection or protection of
      the Affected Parties’ interest in the Trust Estate) and (ii) (A)
      relating to any amendments, waivers or consents under this Note Purchase
      Agreement, any Program Documents and the other Transaction Documents,
      (B) arising in connection with any of the Affected Parties’ enforcement
      or preservation of rights (including, without limitation, the perfection
      and protection of the Affected Parties’ interest in the Trust Estate),
      or (C) arising in connection with any audit, dispute, disagreement,
      litigation or preparation for litigation involving this Note Purchase
      Agreement or any of the other Transaction Documents.
    

    
      

    

    
      
        

        

      

      
        
          41
        

        
          

        

      

      
        

        

      

    

    
                 (b)  The Administrator or the Funding Agent will notify the
      Issuer and the Servicer in writing of any event occurring after
      September 10, 2007 which will entitle an Indemnified Party or Affected
      Party to compensation pursuant to this Article VIII.  Any notice
      by the Administrator or the Funding Agent claiming compensation under
      this Article VIII and setting forth the additional amount or
      amounts to be paid to it hereunder shall be conclusive in the absence of
      manifest error. In determining such amount, the Administrator or the
      Funding Agent, as applicable, or any applicable Indemnified Party or
      Affected Party may use any reasonable averaging and attributing methods.
    

    
                 (c)  If the Issuer is required to pay any additional amount
      to any Conduit Purchaser pursuant to Section 8.2 or 8.3,
      then such Conduit Purchaser shall use reasonable efforts (which shall
      not require such Conduit Purchaser to incur an unreimbursed loss or
      unreimbursed cost or expense or otherwise take any action inconsistent
      with its internal policies or legal or regulatory restrictions or suffer
      any disadvantage or burden reasonably deemed by it to be significant) to
      assign its rights and delegate and transfer its obligations hereunder to
      another of its offices, branches or Affiliates, if such filing or
      assignment would reduce amounts payable pursuant to Section 8.2
      or 8.3, as the case may be, in the future.
    

    
      ARTICLE IX.  

THE ADMINISTRATOR AND THE FUNDING AGENT
    

    
      SECTION 9.1  Authorization and Action.  Three Pillars
      hereby appoints SunTrust Robinson Humphrey, Inc. as its Administrator
      for purposes of the Transaction Documents and authorizes the
      Administrator to take such action as agent on its behalf and to exercise
      such powers as are delegated to the Administrator, by the terms hereof,
      together with such powers as are reasonably incidental thereto.  PARCO
      and the Committed Purchaser, hereby appoint JPMorgan Chase Bank, N.A. as
      its Funding Agent for purposes of the Transaction Documents and
      authorizes the Funding Agent to take such action as agent on their
      behalf and to exercise such powers as are delegated to the Funding
      Agent, by the terms hereof, together with such powers as are reasonably
      incidental thereto.  Three Pillars hereby authorizes the Administrator,
      in its sole discretion, to take any actions and exercise any rights or
      remedies under this Note Purchase Agreement and any permitted related
      agreements and documents.  PARCO and the Committed Purchaser hereby
      authorize the Funding Agent, in its sole discretion, to take any actions
      and exercise any rights or remedies under this Note Purchase Agreement
      and any permitted related agreements and documents.  Except for actions
      which the Administrator or the Funding Agent is expressly required to
      take pursuant to this Note Purchase Agreement or the applicable Program
      Documents, neither the Administrator nor the Funding Agent shall be
      required to take any action which exposes the Administrator or the
      Funding Agent to personal liability or which is contrary to applicable
      law unless the Administrator or the Funding Agent, as applicable, shall
      receive further assurances to its satisfaction from the related Conduit
      Purchaser, of the indemnification obligations under Section 9.4
      hereof against any and all liability and expense which may be incurred
      in taking or continuing to take such action.  The Administrator agrees
      to give to Three Pillars prompt notice of each notice and determination
      given to it by the Issuer, the Servicer or the Trustee, pursuant to the
      terms of this Note Purchase Agreement or the Indenture.  The Funding
      Agent agrees to give to PARCO and the Committed Purchaser prompt notice
      of each notice and determination given to it by the Issuer, the Servicer
      or the Trustee, pursuant to the terms of this Note Purchase Agreement or
      the Indenture.  Subject to Section 9.5 hereof, the
      appointment and authority of each of the Administrator and the Funding
      Agent hereunder shall terminate upon the later of (i) the payment to (a)
      each Conduit Purchaser and the Committed Purchaser of all amounts owing
      to such Person hereunder and (b) the Administrator and the Funding Agent
      of all amounts due hereunder and (ii) the Series 2002-A Termination Date.
    

    
      

    

    
      
        

        

      

      
        
          42
        

        
          

        

      

      
        

        

      

    

    
      SECTION 9.2  Administrator’s and Funding Agent’s Reliance,
      Etc.  Neither the Administrator, the Funding Agent nor any of its
      respective directors, officers, agents who are natural persons or
      employees shall be liable for any action taken or omitted to be taken by
      it or them as Administrator or Funding Agent under or in connection with
      this Note Purchase Agreement or any related agreement or document,
      except for its or their own gross negligence or willful
      misconduct.  Without limiting the foregoing, the Administrator and the
      Funding Agent:  (i) may consult with legal counsel, independent public
      accountants and other experts selected by it and shall not be liable for
      any action taken or omitted to be taken in good faith by it in
      accordance with the advice of such counsel, accountants or experts; (ii)
      makes no warranty or representation to the Conduit Purchasers, the
      Funding Agent or the Committed Purchaser and shall not be responsible to
      the Conduit Purchasers, the Funding Agent or the Committed Purchaser for
      any statements, warranties or representations made by any other Person
      in connection with any Transaction Document; (iii) shall not have any
      duty to ascertain or to inquire as to the performance or observance of
      any of the terms, covenants or conditions of any Transaction Document on
      the part of any Person or to inspect the property (including the books
      and records) of any Person; (iv) shall not be responsible to the Conduit
      Purchasers, the Funding Agent or the Committed Purchaser for the due
      execution, legality, validity, enforceability, genuineness, sufficiency
      or value of any Transaction Document or any other instrument or document
      furnished pursuant hereto or thereto; and (v) shall incur no liability
      under or in respect of any Transaction Document by acting upon any
      notice (including notice by telephone), consent, certificate or other
      instrument or writing (which may be by telex) believed by it in good
      faith to be genuine and signed or sent by the proper party or parties.
    

    
      SECTION 9.3  Administrator, Funding Agent and their
      Respective Affiliates.  Each of the Administrator, the Funding Agent
      and any of their respective Affiliates may generally engage in any kind
      of business with the Issuer, the Seller, any Bank, Servicer, any
      Obligor, any insurer, any of their respective Affiliates and any Person
      who may do business with or own securities of the Issuer, the Seller,
      any Bank, Servicer, any Obligor or any of their respective Affiliates,
      all as if such entities were not the Administrator or the Funding Agent,
      as applicable, and without any duty to account therefor to the Conduit
      Purchasers, the Funding Agent and the Committed Purchaser, as applicable.
    

    
      SECTION 9.4  Purchase Decision.  Each of the Conduit
      Purchasers and the Committed Purchaser acknowledges that it has,
      independently and without reliance upon the Administrator or the Funding
      Agent, and based on such documents and information as it has deemed
      appropriate, made its own evaluation and decision to enter into this
      Note Purchase Agreement and to purchase an interest in the Notes.  Each
      of the Conduit Purchasers and the Committed Purchaser also acknowledges
      that it will, independently and without reliance upon the Administrator
      or the Funding Agent or any of their respective Affiliates, and based on
      such documents and information as it shall deem appropriate at the time,
      continue to make its own decisions in taking or not taking action under
      this Note Purchase Agreement or any related agreement, instrument or
      other document.
    

    
      

    

    
      
        

        

      

      
        
          43
        

        
          

        

      

      
        

        

      

    

    
      SECTION 9.5  Successor Administrator and Funding Agent.
    

    
                 (a)  The Administrator may resign at any time by giving five
      days’ written notice thereof to each of the parties hereto and the
      Trustee.  Upon any such resignation of the Administrator, Three Pillars
      shall have the right to appoint a successor Administrator.  If no
      successor Administrator shall have been so appointed and shall have
      accepted such appointment, within five days after the retiring
      Administrator’s giving of notice of resignation, then the retiring
      Administrator may, on behalf of Three Pillars, appoint a successor
      Administrator.  Upon the acceptance of any appointment as Administrator
      hereunder by a successor Administrator, such successor Administrator
      shall thereupon succeed to and become vested with all of the rights,
      powers, privileges and duties of the retiring Administrator, and the
      retiring Administrator shall be discharged from its duties and
      obligations under this Note Purchase Agreement and the other Transaction
      Documents (other than obligations arising or to have been performed
      prior to such retirement).  After any retiring Administrator’s
      resignation hereunder as Administrator, the provisions of this Article
      IX shall inure to its benefit as to any actions taken or omitted to
      be taken by it while it was an Administrator under this Note Purchase
      Agreement and the other Transaction Documents.
    

    
      (b)       The Funding Agent may resign at any time by giving five days’
      written notice thereof to each of the parties hereto and the
      Trustee.  Upon any such resignation of the Funding Agent, PARCO and the
      Committed Purchaser shall have the right to appoint a successor Funding
      Agent.  If no successor Funding Agent shall have been so appointed and
      shall have accepted such appointment, within five days after the
      retiring Funding Agent’s giving of notice of resignation, then the
      retiring Funding Agent may, on behalf of the PARCO and the Committed
      Purchaser, appoint a successor Funding Agent.  Upon the acceptance of
      any appointment as Funding Agent hereunder by a successor Funding Agent,
      such successor Funding Agent shall thereupon succeed to and become
      vested with all of the rights, powers, privileges and duties of the
      retiring Funding Agent, and the retiring Funding Agent shall be
      discharged from its duties and obligations under this Note Purchase
      Agreement and the other Transaction Documents (other than obligations
      arising or to have been performed prior to such retirement).  After any
      retiring Funding Agent’s resignation hereunder as Funding Agent, the
      provisions of this Article IX shall inure to its benefit as to
      any actions taken or omitted to be taken by it while it was an Funding
      Agent under this Note Purchase Agreement and the other Transaction
      Documents.
    

    
      

    

    
      
        

        

      

      
        
          44
        

        
          

        

      

      
        

        

      

    

    
      ARTICLE X.  

MISCELLANEOUS
    

    
      SECTION 10.1  Amendments.  No amendment or waiver of
      any provision of this Note Purchase Agreement shall in any event be
      effective unless the same shall be made in accordance with the
      requirements set forth in Section 7.3, and then such
      amendment, waiver or consent shall be effective only in the specific
      instance and for the specific purpose for which given.
    

    
      SECTION 10.2  Notices.  All communications hereunder,
      except as herein otherwise specifically provided, shall be in writing
      and, if to the Conduit Purchasers, shall be mailed, delivered or
      telegraphed and confirmed to such Persons at the following addresses:
    

    
    	
          Three Pillars Funding LLC
        
	
          c/o AMACAR Group, L.L.C.
        
	
          6525 Morrison Boulevard,
        
	
          Suite 318
        
	
          Charlotte, NC 28211
        
	
          Attention: Doris Hearn
        
	
          Facsimile: (704) 365-1362
        
	
           
        
	
          and
        
	
           
        
	
          Park Avenue Receivables Company, LLC
        
	
          10 South Dearborn Street
        
	
          Mail Code: IL1-0597
        
	
          Chicago, IL 60670
        
	
          Attention: Benita Volid
        
	
          Facsimile: (312) 377-0342
        

    

    
                if to the Administrator, shall be mailed, delivered or
      telegraphed and confirmed to the Administrator at the following address:
    

    
    	
          SunTrust Robinson Humphrey, Inc.
        
	
          303 Peachtree Street
        
	
          Atlanta, Georgia 30308
        
	
          Attention: Kecia Howson
        
	
          Facsimile: (404) 813-0000
        

    

    
      

    

    
      
        

        

      

      
        
          45
        

        
          

        

      

      
        

        

      

    

    
      if to the Funding Agent or the Committed Purchaser, shall be mailed,
      delivered or telegraphed and confirmed to such Person at the following
      address:
    

    
    	
          JPMorgan Chase Bank, N.A.
        
	
          10 South Dearborn Street
        
	
          Mail Code: IL1-0597
        
	
          Chicago, IL 60670
        
	
          Attention: Kyle Kimme
        
	
          Facsimile: (312) 732-3600
        

    

    
      if to the Seller, shall be mailed, delivered or telegraphed and
      confirmed to the Seller at the following address:
    

    
    	
          Conn Appliances, Inc.
        
	
          3295 College Street
        
	
          Beaumont, Texas 77701
        
	
          Attention: Office of the Treasurer
        
	
          Telephone: 409-832-1696
        
	
          Facsimile: 409-839-4609
        

    

    
      if to the Issuer, shall be mailed, delivered or telegraphed and
      confirmed to the Issuer at the following address:
    

    
    	
          Conn Funding II, L.P.
        
	
          3295 College Street
        
	
          Beaumont, Texas 77701
        
	
          Attention: Office of the Treasurer
        
	
          Telephone: 409-832-1696
        
	
          Facsimile: 409-839-4609
        

    

    
      SECTION 10.3  No Waiver; Remedies.  No failure on the
      part of any party hereto to exercise, and no delay in exercising, any
      right hereunder shall operate as a waiver thereof; nor shall any single
      or partial exercise of any right hereunder preclude any other or further
      exercise thereof or the exercise of any other right.  The remedies
      herein provided are cumulative and not exclusive of any remedies
      provided by law.
    

    
      SECTION 10.4  Binding Effect; Assignability.  
    

    
                 (a)  This Note Purchase Agreement shall be binding on the
      parties hereto and their respective successors and assigns; provided,
      however, that the Issuer may not assign any of its rights or
      delegate any of its duties hereunder or under any of the other
      Transaction Documents to which it is a party without the prior written
      consent of the Administrator and the Funding Agent.  No provision of
      this Note Purchase Agreement or any other Transaction Document shall in
      any manner restrict the ability of any Affected Party to assign,
      participate, grant security interests in, or otherwise transfer any
      portion of its interest in the Notes (and its rights to receive any
      payments in respect thereof, including in connection with any collateral
      securing payment with respect to such Notes); provided, that any
      such transfer, participation or assignment shall only be made in
      compliance with the transfer restrictions set forth in the Indenture; provided,
      further, that unless otherwise consented to by the Issuer, such
      transferee, participant or assignee shall have executed and delivered to
      the Issuer, the Trustee, the Funding Agent and the Administrator, a
      transfer certificate, the form of which is attached as Exhibit C
      to the Series Supplement, with such changes as shall be reasonably
      acceptable to the Issuer.  Without limiting the foregoing, any Conduit
      Purchaser may, in one or a series of transactions, transfer all or any
      portion of its interest in the Trust Estate and the Notes, and its
      rights and obligations under the Transaction Documents to any Bank, any
      Liquidity Bank (or any successor of any thereof by merger, consolidation
      or otherwise), any Affiliate of any Bank or any Liquidity Bank in
      connection with a draw under a Liquidity Agreement or a Credit Advance
      (which may then assign all or any portion thereof so assigned or any
      interest therein to such party or parties as it may choose).
    

    
      

    

    
      
        

        

      

      
        
          46
        

        
          

        

      

      
        

        

      

    

    
                 (b)  Any Conduit Purchaser or any assignee permitted pursuant
      to subsection (a) above may, in the ordinary course of its
      business and in accordance with applicable law, at any time sell to one
      or more Persons (each, a “Participant”) participating
      interests in all or a portion of its rights and obligations under this
      Note Purchase Agreements; provided, that any such transfer,
      participation or assignment shall only be made in compliance with the
      transfer restrictions set forth in the Indenture; provided, further,
      that the Administrator shall have consented to any such participation by
      Three Pillars, as a Conduit Purchaser and the Funding Agent shall have
      consented to any such participation by PARCO or the Committed
      Purchaser.  Notwithstanding any such sale by such Conduit Purchaser or
      assignee of participating interests to a Participant, such Conduit
      Purchaser or assignee rights and obligations under this Note Purchase
      Agreement shall remain unchanged, such Conduit Purchaser or assignee
      shall remain solely responsible for the performance thereof, and the
      other parties hereto shall continue to deal solely and directly with
      such Conduit Purchaser or assignee in connection with such Conduit
      Purchaser or assignee’s rights and obligations under this Note Purchase
      Agreement.  Each Conduit Purchaser or assignee shall be entitled to the
      benefits of Article IX hereof; provided, however,
      that all amounts payable to any such Participant shall be limited to the
      amounts which would have been payable to such Conduit Purchaser or
      assignee selling such participating interest had such interest not been
      sold.
    

    
                 (c)  Notwithstanding any other provision of this Agreement to
      the contrary, any Conduit Lender, Committed Lender or the Administrator
      may at any time pledge or grant a security interest in all or any
      portion of its rights (including, without limitation, its pro rata share
      of the Aggregate Purchaser Funded Amount and any rights to payment of
      principal or interest with respect thereto) under this Agreement to
      secure obligations of such Person to a Federal Reserve Bank, without
      notice to or consent of the Issuer or the Administrator; provided
      that no such pledge or grant of security interest shall release such
      Person from any such Person of its obligations hereunder, or substitute
      any such pledgee or grantee for such Person as a party hereto.
    

    
                 (d)  This Note Purchase Agreement shall create and constitute
      the continuing obligation of the parties hereto in accordance with its
      terms, and shall remain in full force and effect until such time as all
      amounts payable with respect to the Notes shall have been paid in full.
    

    
      

    

    
      
        

        

      

      
        
          47
        

        
          

        

      

      
        

        

      

    

    
      SECTION 10.5  Confidentiality.  Unless otherwise
      consented to by the Administrator and the Funding Agent, each of the
      Issuer and the Seller hereby agrees that it will not disclose the
      contents of any Transaction Document, or any other confidential or
      proprietary information furnished by the Administrator, the Funding
      Agent, the Committed Purchaser or any Conduit Purchaser to any Person
      other than its Affiliates (which Affiliates shall have executed an
      agreement satisfactory in form and in substance to the Administrator and
      the Funding Agent to be bound by this Section 10.5) auditors and
      attorneys or as required by applicable law.  Each of the Administrator,
      the Funding Agent, the Committed Purchaser and each Conduit Purchaser
      hereby agrees to maintain the confidentiality of the contents of any
      confidential or proprietary information furnished by the Seller, the
      Servicer or the Seller, except that any such information may be
      disclosed (a) to its and its respective Affiliates' directors, officers,
      employees and agents, including accountants, legal counsel and other
      advisors (it being understood that the Persons to whom such disclosure
      is made will be informed of the confidential nature of such information
      and instructed to keep such information confidential), (b) to the extent
      requested by any regulatory authority, (c) to the extent required by
      applicable laws or regulations or by any subpoena or similar legal
      process, (d) to any other party to this Note Purchase Agreement, (e) to
      the extent necessary to exercise any remedies hereunder or any suit,
      action or proceeding relating to this Note Purchase Agreement or the
      enforcement of rights hereunder, (f) subject to an agreement containing
      provisions substantially the same as those of this Section 10.5,
      to any assignee of or participant in, or any prospective assignee of or
      participant in, any of its rights or obligations under this Note
      Purchase Agreement, (g) by the Administrator, the Funding Agent, the
      Committed Purchaser or any Conduit Purchaser to any rating agency,
      provider of credit enhancement or liquidity to any Conduit Purchaser or
      any Person providing financing to, or holding equity interests in, any
      Conduit Purchaser, and to any officers, directors, employees, outside
      accountants and attorneys of any of the foregoing, (h) with the consent
      of the Seller, the Issuer or Servicer, as applicable, or (i) to the
      extent such information (A) becomes publicly available other than as a
      result of a breach of this Section 10.5 or (B) becomes available
      to the Administrator, the Funding Agent, the Committed Purchaser or any
      Conduit Purchaser on a nonconfidential basis from a source other than
      the Seller, the Issuer or the Servicer or any of its respective
      Affiliates; provided, however, that the Administrator, the
      Funding Agent, the Committed Purchaser and each Conduit Purchaser may
      disclose the contents of any Transaction Document (other than any Fee
      Letter) to any Person. Any Person required to maintain the
      confidentiality of any information as provided in this Section 10.5
      shall be considered to have complied with its obligation to do so if
      such Person has exercised the same degree of care to maintain the
      confidentiality of such confidential information as such Person would
      accord to its own confidential information.
    

    
      SECTION 10.6  GOVERNING LAW; JURISDICTION.  THIS NOTE
      PURCHASE AGREEMENT SHALL BE GOVERNED BY, AND 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).  EACH OF THE PARTIES TO THIS NOTE
      PURCHASE AGREEMENT HEREBY AGREES TO THE NON-EXCLUSIVE JURISDICTION OF
      THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK
      AND ANY APPELLATE COURT HAVING JURISDICTION TO REVIEW THE JUDGMENTS
      THEREOF.  EACH OF THE PARTIES HEREBY WAIVES ANY OBJECTION BASED ON FORUM
      NON CONVENIENS AND ANY OBJECTION TO VENUE OF ANY ACTION INSTITUTED
      HEREUNDER IN ANY OF THE AFOREMENTIONED COURTS AND CONSENTS TO THE
      GRANTING OF SUCH LEGAL OR EQUITABLE RELIEF AS IS DEEMED APPROPRIATE BY
      SUCH COURT.
    

    
      

    

    
      
        

        

      

      
        
          48
        

        
          

        

      

      
        

        

      

    

    
      SECTION 10.7  Wavier of Trial by Jury.  To the extent
      permitted by applicable law, each of the parties hereto irrevocably
      waives all right of trial by jury in any action, proceeding or
      counterclaim arising out of or in connection with this Note Purchase
      Agreement or any matter arising hereunder.
    

    
      SECTION 10.8  No Proceedings.  The Issuer agrees that
      so long as any indebtedness of any Conduit Purchaser shall be
      outstanding or there shall not have elapsed one year plus one day since
      the last day on which any indebtedness of such Conduit Purchaser shall
      have been outstanding, it shall not file, or join in the filing of, a
      petition against such Conduit Purchaser under the Federal Bankruptcy
      Code, or join in the commencement of any bankruptcy, reorganization,
      arrangement, insolvency, liquidation or other similar proceeding against
      such Conduit Purchaser.
    

    
      SECTION 10.9  Execution in Counterparts.  This Note
      Purchase Agreement may be executed in any number of counterparts and by
      different parties hereto in separate counterparts, each of which when so
      executed shall be deemed to be an original and all of which when taken
      together shall constitute one and the same agreement.
    

    
      SECTION 10.10  No Recourse.  Notwithstanding anything
      to the contrary contained herein, the obligations of the Conduit
      Purchasers under this Note Purchase Agreement are solely the corporate
      obligations of such Conduit Purchaser and, in the case of obligations of
      any Conduit Purchaser other than its respective Commercial Paper Notes,
      shall be payable at such time as funds are actually received by, or are
      available to, such Conduit Purchaser in excess of funds necessary to pay
      in full all of its respective outstanding Commercial Paper Notes and, to
      the extent funds are not available to pay such obligations, the claims
      relating thereto shall not constitute a claim against such Conduit
      Purchaser but shall continue to accrue.  Each party hereto agrees that
      the payment of any claim (as defined in Section 101 of the Bankruptcy
      Code) of any such party shall be subordinated to the payment in full of
      all Commercial Paper Notes.
    

    
      No recourse under any obligation, covenant or agreement of any Conduit
      Purchaser contained in this Note Purchase Agreement shall be had against
      any incorporator, stockholder, officer, director, member, manager,
      employee or agent of such Conduit Purchaser (solely by virtue of such
      capacity) by the enforcement of any assessment or by any legal or
      equitable proceeding, by virtue of any statute or otherwise; it being
      expressly agreed and understood that this Note Purchase Agreement is
      solely a corporate obligation of each Conduit Purchaser, and that no
      personal liability whatever shall attach to or be incurred by any
      incorporator, stockholder, officer, director, member, manager, employee
      or agent of any Conduit Purchaser (solely by virtue of such capacity) or
      any of them under or by reason of any of the obligations, covenants or
      agreements of such Conduit Purchaser contained in this Note Purchase
      Agreement, or implied therefrom, and that any and all personal liability
      for breaches by such Conduit Purchaser of any of such obligations,
      covenants or agreements, either at common law or at equity, or by
      statute, rule or regulation, of every such incorporator, stockholder,
      officer, director, member, manager, employee or agent is hereby
      expressly waived as a condition of and in consideration for the
      execution of this Note Purchase Agreement; provided that the
      foregoing shall not relieve any such Person from any liability it might
      otherwise have as a result of fraudulent actions taken or fraudulent
      omissions made by them.
    

    
      

    

    
      
        

        

      

      
        
          49
        

        
          

        

      

      
        

        

      

    

    
      SECTION 10.11  Survival.  All representations,
      warranties, covenants, guaranties and indemnifications contained in this
      Note Purchase Agreement (including, without limitation, in Sections
      10.8 and 10.10), and in any document, certificate or
      statement delivered pursuant hereto or in connection herewith shall
      survive the sale, transfer or repayment of the Notes.
    

    
      SECTION 10.12  Recourse.  The obligations of the Issuer
      under this Note Purchase Agreement and the Notes are full-recourse
      obligations of the Issuer.
    

    
      SECTION 10.13  No Fiduciary Duty.  Each of the Issuer
      and the Seller acknowledges that each of the Administrator and the
      Funding Agent is acting solely in the capacity of arm’s-length
      contractual counterparties to the Issuer and the Seller with respect to
      the offering of Notes contemplated hereby (including in connection with
      determining the terms of the offering) and not as a financial advisor or
      a fiduciary to, or an agent of the Issuer, the Seller or any other
      Person.  Additionally, neither the Administrator nor the Funding Agent
      is advising the Issuer, the Seller or any other Person as to any legal,
      tax, investment, accounting or regulatory matters in any
      jurisdiction.  The Issuer and the Seller shall consult with their own
      advisors concerning such matters and shall be responsible for making
      their own independent investigation and appraisal of the transactions
      contemplated hereby, and neither the Administrator nor the Funding Agent
      shall have any responsibility or liability to the Issuer or the Seller
      with respect thereto.  Any review by the Administrator or the Funding
      Agent of the Issuer, the Seller, the transactions contemplated hereby or
      other matters relating to such transactions will be performed solely for
      the benefit of the Administrator or the Funding Agent, as applicable,
      and shall not be on behalf of the Issuer, the Seller or any other party.
    

    
      SECTION 10.14  Consent.  The Administrator and the
      Funding Agent hereby consent to the execution and delivery of the
      Intercreditor Agreement as of the date hereof.
    

    
      SECTION 10.15  Tax Disclosure.  Notwithstanding any
      other express or implied agreement to the contrary, the parties agree
      and acknowledge that each of them and each of their employees,
      representatives, and other agents may disclose to any and all persons,
      without limitation of any kind, the tax treatment and tax structure of
      the transaction and all materials of any kind (including opinions or
      other tax analyses) that are provided to any of them relating to such
      tax treatment and tax structure, except to the extent that
      confidentiality is reasonably necessary to comply with U.S. federal or
      state securities laws.  For purposes of this paragraph, the terms “tax
      treatment” and “tax structure” have the meanings specified in Treasury
      Regulation section 1.6011-4(c).  
    

    
      [Remainder of page intentionally left blank — signature pages follow.]
    

    
      

    

    
      
        

        

      

      
        
          50
        

        
          

        

      

      
        

        

      

    

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

    
    	
           
        	
          CONN FUNDING II, L.P., as Issuer
        
	

        	

        	
           
        
	

        	
          By: Conn Funding II GP, L.L.C.,
        
	

        	
          its general partner
        
	

        	

        	
           
        
	

        	
          
            By:
          

        	
          
             
          

        
	

        	
          Name
        
	

        	
          Title
        
	

        	

        	
           
        
	

        	
          CONN APPLIANCES, INC., as Seller and as
        
	

        	
          Servicer
        
	

        	

        	
           
        
	

        	
          
            By:
          

        	
          
             
          

        
	

        	
          Name
        
	

        	
          Title
        
	

        	

        	
           
        
	

        	
          THREE PILLARS FUNDING LLC,
        
	

        	
          as a Conduit Purchaser
        
	

        	

        	
           
        
	

        	
          
            By:
          

        	
          
             
          

        
	

        	
          Name
        
	

        	
          Title
        
	

        	

        	
           
        
	

        	
          PARK AVENUE RECEIVABLES COMPANY
        
	

        	
          LLC, as a Conduit Purchaser
        
	

        	

        	
           
        
	

        	
          
            By: JPMorgan Chase Bank, N.A.,
          

        
	

        	
          its attorney-in-fact
        
	

        	

        	
           
        
	

        	
          
            By:
          

        	
          
             
          

        
	

        	
          Name
        
	

        	
          Title
        

    

    
      

    

    
      
        

        

      

      
        
          S-1
        

        
          

        

      

      
        

        

      

    

    
    	
           
        	
          JPMORGAN CHASE BANK, N.A., as Funding
        
	

        	
          Agent
        
	

        	

        	
           
        
	

        	
          
            By:
          

        	
          
             
          

        
	

        	
          Name
        
	

        	
          Title
        
	

        	

        	
           
        
	

        	
          JPMORGAN CHASE BANK, N.A. as Committed
        
	

        	
          Purchaser
        
	

        	

        	
           
        
	

        	
          
            By:
          

        	
          
             
          

        
	

        	
          Name
        
	

        	
          Title
        
	

        	

        	
           
        
	

        	
          SUNTRUST ROBINSON HUMPHREY, INC.,
        
	

        	
          as Administrator
        
	

        	

        	
           
        
	

        	
          
            By:
          

        	
          
             
          

        
	

        	
          Name
        
	

        	
          Title
        

    

    
      

    

    
      
        

        

      

      
        
          S-2
        

        
          

        

      

      
        

        

      

    

    
      EXHIBIT A
    

    
      Form of Notice of Increase
    

    
    	
          1.
        	
          Proposed Increase Date: ___________
        
	
          2.
        	
          Amount of requested Increase (lesser of minimum amount of
          $__________ or the then unfunded portion of Commitment of Three
          Pillars Funding LLC)
        	
          $__________
        
	
          3.
        	
          Purchase Price (Three Pillars Funding LLC)
        	
          $__________
        
	
          4.
        	
          Amount of requested Increase (lesser of minimum amount of
          $__________ or the then unfunded portion of the Commitment of
          JPMorgan Chase Bank, N.A., as Committed Purchaser)
        	
          $__________
        
	
          5.
        	
          Purchase Price (Park Avenue Receivables Company, LLC or JPMorgan
          Chase Bank, N.A.)
        	
          $__________
        
	
          6.
        	
          Remaining Maximum Principal Amount (after giving effect to the
          aggregate requested Increase)
        	
          $__________
        
	
          7.
        	
          Certifications:
        	

        
	

        	
          (a)
        	
          
            The representations and warranties of Conn Funding II, L.P. (the “Issuer”),
            Conn Appliances, Inc., as seller (the “Seller”) and
            as servicer (the “Servicer”), in the Base Indenture
            dated as of September 1, 2002 (as amended) between the Issuer and
            Wells Fargo Bank, National Association (f/k/a Wells Fargo Bank
            Minnesota, National Association), as trustee (the “Trustee”);
            the Amended and Restated Series 2002-A Supplement, dated as of
            September 10, 2007, between the Issuer and the Trustee; and the
            Second Amended and Restated Note Purchase Agreement dated as of
            August 14, 2008 (the “Note Purchase Agreement”),
            among the Issuer, the Seller, the Servicer, the Conduit Purchasers
            party thereto, JPMorgan Chase Bank, N.A. and SunTrust Robinson
            Humphrey, Inc., as applicable, are true and correct in all
            material respects on the date hereof (except to the extent they
            expressly relate to an earlier or later time and then as of such
            earlier or later time).
          

        
	

        	
          (b)
        	
          
            The conditions to the Increase specified in Section 2.3 of
            the Note Purchase Agreement have been satisfied and will be
            satisfied as of the applicable Increase Date.
          

        

    

    
      

    

    
      
        

        

      

      
        
          Exhibit A-1
        

        
          

        

      

      
        

        

      

    

    
      The Issuer understands and agrees that no Conduit Purchaser (or the
      Committed Purchaser, as the case may be) shall be required to fund any
      Increase if, after giving effect thereto, its Note Principal would
      exceed its Commitment.
    

    
      Capitalized terms used herein shall have the meanings set forth in the
      Note Purchase Agreement.
    

    

    

    
    	

        	
           
        	
           
        	
          CONN FUNDING II, L.P., as the Issuer
        
	

        	

        	

        	

        	
           
        
	

        	

        	

        	
          By: Conn Funding II GP, L.L.C.,
        
	

        	

        	

        	
          Its general partner
        
	

        	

        	

        	

        	
           
        
	

        	

        	

        	
          
            By:
          

        	
          
             
          

        
	

        	

        	

        	
          Name
        
	

        	

        	

        	
          Title
        
	
          Date of Notice:
        	
           
        	

        	

        	

        

    

    
      

    

    
      
        

        

      

      
        
          Exhibit A-2
        

        
          

        

      

      
        

        

      

    

    
      SCHEDULE I
    

    
      LIST OF PROCEEDINGS
    

    
      None
    

    
      

    

    
      
        

        

      

      
        
          Schedule I-1
        

        
          

        

      

      
        

        

      

    

    
      SCHEDULE II
    

    
      LIST OF TRADE NAMES
    

    
      Conn Appliances, Inc.:
    

    
      “Appliance Parts & Service”
    

    
      “Conn”
    

    
      “Conn Appliances”
    

    
      “Conn Rental”
    

    
      “Conn Service”
    

    
      “Conns”
    

    
      “Conn’s”
    

    
      “Conn’s Rental”
    

    
      “Conn’s Service”
    

    
      “Conn Credit”
    

    
      “Conn Credit Corp.”
    

    
      Conn Funding II, L.P.:
    

    
      None.
    

    
      

      Schedule II-1Exhibit 10.2
    

    
      

      SUPPLEMENT NO. 2 TO AMENDED AND RESTATED SERIES 2002-A SUPPLEMENT
    

    
      This SUPPLEMENT NO. 2 TO AMENDED AND RESTATED SERIES 2002-A SUPPLEMENT,
      dated as of March 16, 2010 (this “Amendment”) is made
      between CONN FUNDING II, L.P. (the “Issuer”) and WELLS
      FARGO BANK, NATIONAL ASSOCIATION (successor by merger to Wells Fargo
      Bank Minnesota, National Association), as Trustee (the “Trustee”).  Capitalized
      terms used and not otherwise defined in this Amendment are used as
      defined in that certain Base Indenture, dated as of September 1, 2002
      (as amended from time to time, the “Base Indenture”),
      between the Issuer and the Trustee or, if not defined therein, in the
      that certain Amended and Restated Series 2002-A Supplement, dated as of
      September 10, 2007 (as amended from time to time, the “Series
      Supplement”), between the Issuer and the Trustee.
    

    
      Background
    

    
      A.   The parties hereto have entered into the Base Indenture and the
      Series Supplement to finance the purchase of Receivables by the Issuer
      from Conn Appliances, Inc.
    

    
      B.   The parties hereto wish to amend the Series Supplement.
    

    
      C.   The parties hereto are willing to agree to such an amendment, all
      as set out in this Amendment.
    

    
      Agreement
    

    
         1.   Amendments of the Series
      Supplement.  
    

    
            (a)   Section
      6.2(b) of the Series Supplement is hereby amended and restated in
      its entirety to read as follows:
    

    
                (b)       [Reserved.]
    

    
            (b)   Section 9(s)
      of the Series Supplement is hereby amended and restated in its entirety
      to read as follows:
    

    
                (s)       (i) failure on the part of the Seller, the Servicer
      or the Issuer, as applicable, to duly observe or perform in any respect
      any covenant or agreement set forth in Sections 7.10, 7.11
      or 7.12 of the Note Purchase Agreement, respectively, (ii)
      failure on the part of the Issuer to fully comply with any notice of a
      Voluntary Decrease or Reduction (under and as defined in the Note
      Purchase Agreement) or (iii) any Person shall be appointed or replaced
      as an Independent Manager of the Issuer’s general partner without the
      prior written consent of the Administrator and the Funding Agent;
    

    
         2.   Binding Effect; Ratification.
      (a)  This Amendment shall become effective, as of the date first set
      forth above, when (i) counterparts hereof shall have been executed and
      delivered by the parties hereto and (ii) the Administrator shall have
      received a fully executed copy of the Sixth Amendment to the Second
      Amended and Restated Note Purchase Agreement, dated as of the date
      hereof, among the Issuer and the other parties thereto (the “6th
      NPA Amendment”), and thereafter shall be binding on the parties
      hereto and their respective successors and assigns and all fees owed to
      the Funding Agents, the Conduit Purchasers and the Committed Purchasers
      shall have been paid in full.
    

    
      

    

    
      
        

        

      

      
        

        

        
          

        

      

      
        

        

      

    

    
            (b)   On and after the execution and delivery hereof, this
      Amendment shall be a part of the Series Supplement and each reference in
      the Series Supplement to “this Series Supplement” or “hereof”,
      “hereunder” or words of like import, and each reference in any other
      Transaction Document to the Series Supplement shall mean and be a
      reference to such Series Supplement as amended hereby.
    

    
            (c)   Except as expressly amended hereby, the Series Supplement
      shall remain in full force and effect and is hereby ratified and
      confirmed by the parties hereto.
    

    
         3.   Representations and Warranties.  The  Issuer
      represents and warrants that, after giving effect to this Amendment and
      the 6th NPA Amendment:
    

    
            (a)   no event or circumstance that, after the giving of notice or
      lapse of time or both, would give rise to an Event of Default, Pay Out
      Event or Servicer Default or any Event of Default, Pay Out Event or
      Servicer Default has occurred, and
    

    
            (b)   its representations and warranties set forth in the
      Transaction Documents are true and correct as of the date hereof, as
      though made on and as of such date (except to the extent such
      representations and warranties relate solely to an earlier date and then
      as of such earlier date), and such representations and warranties shall
      continue to be true and correct (to such extent) after giving effect to
      the transactions contemplated hereby.
    

    
         4.             Miscellaneous.
      (a)  THIS AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF
      THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS CONFLICTS 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.  EACH OF THE PARTIES TO THIS AMENDMENT AGREES TO THE NON-EXCLUSIVE
      JURISDICTION OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN
      DISTRICT OF NEW YORK AND ANY APPELLATE COURT HAVING JURISDICTION TO
      REVIEW THE JUDGMENTS THEREOF.  EACH OF THE PARTIES HERETO HEREBY WAIVES
      ANY OBJECTION BASED ON FORUM NON CONVENIENS AND ANY OBJECTION TO
      VENUE OF ANY ACTION INSTITUTED HEREUNDER IN ANY OF THE AFOREMENTIONED
      COURTS AND CONSENTS TO THE GRANTING OF SUCH LEGAL OR EQUITABLE RELIEF AS
      IS DEEMED APPROPRIATE BY SUCH COURT.
    

    
            (b)   Headings used herein are for convenience of reference only
      and shall not affect the meaning of this Amendment.
    

    
      

    

    
      
        

        

      

      
        
          2
        

        
          

        

      

      
        

        

      

    

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

    
      [Signature Page Follows]
    

    
      

    

    
      
        

        

      

      
        
          3
        

        
          

        

      

      
        

        

      

    

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

    
    	
           
        	
          WELLS FARGO BANK, NATIONAL
        
	

        	
          ASSOCIATION, not in its individual capacity, but
        
	

        	
          solely as Trustee
        
	

        	

        	
           
        
	

        	

        	
           
        
	

        	

        	
           
        
	

        	
          
            By:
          

        	
          
            /s/ Julie Tanner Fischer
          

        
	

        	

        	
          
            Name: Julie Tanner Fischer
          

        
	

        	

        	
          
            Title: Vice President
          

        
	

        	

        	
           
        
	

        	

        	
           
        
	

        	

        	
           
        
	

        	
          CONN FUNDING II, L.P., as Issuer
        
	

        	

        	
           
        
	

        	
          By: Conn Funding II GP, L.L.C., its general partner
        
	

        	

        	
           
        
	

        	

        	
           
        
	

        	

        	
           
        
	

        	
          
            By:
          

        	
          
            /s/ David R. Atnip
          

        
	

        	

        	
          
            Name: David R. Atnip
          

        
	

        	

        	
          
            Title: Treasurer
          

        

    

    
      

    

    
      
        

        

      

      
        
          S-1
        

        
          

        

      

      
        

        

      

    

    
    	
           
        	
          CONSENTED AND AGREED TO BY:
        
	

        	

        	
           
        
	

        	
          THREE PILLARS FUNDING LLC, as a Conduit
        
	

        	
          Purchaser
        
	

        	

        	
           
        
	

        	

        	
           
        
	

        	
          
            By:
          

        	
          
            /s/ Doris J. Hearn
          

        
	

        	
          
            Name: Doris J. Hearn
          

        
	

        	
          
            Title: Vice President
          

        
	

        	

        	
           
        
	

        	

        	
           
        
	

        	

        	
           
        
	

        	
          SUNTRUST ROBINSON HUMPHREY, INC.,
        
	

        	
          as Administrator
        
	

        	

        	
           
        
	

        	

        	
           
        
	

        	
          
            By:
          

        	
          
            /s/ Joseph R. Franke
          

        
	

        	
          
            Name: Joseph R. Franke
          

        
	

        	
          
            Title: Director
          

        

    

    
      

    

    
      
        

        

      

      
        
          S-2
        

        
          

        

      

      
        

        

      

    

    
    	
           
        	
          JPMORGAN CHASE BANK, N.A., as Funding
        
	

        	
          Agent and as Committed Purchaser
        
	

        	

        	
           
        
	

        	
          
            By:
          

        	
          
            /s/ Scott Cornelis
          

        
	

        	
          
            Name Scott Cornelis
          

        
	

        	
          
            Title Vice President
          

        
	

        	

        	
           
        
	

        	

        	
           
        
	

        	

        	
           
        
	

        	
          PARK AVENUE RECEIVABLES COMPANY
        
	

        	
          LLC, as a Conduit Purchaser
        
	

        	

        	
           
        
	

        	
          By: JPMorgan Chase Bank, N.A.,
        
	

        	
          its attorney-in-fact
        
	

        	

        	
           
        
	

        	
          
            By:
          

        	
          
            /s/ Scott Cornelis
          

        
	

        	
          
            Name Scott Cornelis
          

        
	

        	
          
            Title Vice President
          

        

    

    
      

      S-3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00170-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00170-of-00352.parquet"}]]