Document:

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                         CNH EQUIPMENT TRUST 2000-B

                        SALE AND SERVICING AGREEMENT

                                   among

                        CNH EQUIPMENT TRUST 2000-B,
                                 as Issuer,

                                    and

                       CNH CAPITAL RECEIVABLES INC.,
                                 as Seller,

                                    and

                          CASE CREDIT CORPORATION,
                                as Servicer.

                       Dated as of September 1, 2000

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                           || TABLE OF CONTENTS

                                                                            Page
                                                                            ----
ARTICLE I     Definitions......................................................1
         SECTION 1.1.  Definitions.............................................1
         SECTION 1.2.  Other Definitional Provisions...........................1

ARTICLE II    Conveyance of Receivables........................................2
         SECTION 2.1.  Conveyance of Initial Receivables.......................2
         SECTION 2.2.  Conveyance of Subsequent Receivables....................3

ARTICLE III   The Receivables..................................................6
         SECTION 3.1.  Representations and Warranties of Seller................6
         SECTION 3.2.  Repurchase upon Breach..................................7
         SECTION 3.3.  Custody of Receivable Files.............................8
         SECTION 3.4.  Duties of Servicer as Custodian.........................9
         SECTION 3.5.  Instructions; Authority To Act..........................9
         SECTION 3.6.  Custodian's Indemnification............................10
         SECTION 3.7.  Effective Period and Termination.......................10

ARTICLE IV    Administration and Servicing of Receivables.....................10
         SECTION 4.1.  Duties of Servicer.....................................10
         SECTION 4.2.  Collection and Allocation of Receivable Payments.......11
         SECTION 4.3.  Realization upon Receivables...........................12
         SECTION 4.4.  Maintenance of Security Interests in Financed
                        Equipment.............................................12
         SECTION 4.5.  Covenants of Servicer..................................12
         SECTION 4.6.  Purchase of Receivables upon Breach....................12
         SECTION 4.7.  Servicing Fee..........................................13
         SECTION 4.8.  Servicer's Certificate.................................13
         SECTION 4.9.  Annual Statement as to Compliance; Notice of Default...13
         SECTION 4.10. Annual Independent Certified Public Accountants'
                         Report...............................................14
         SECTION 4.11. Access to Certain Documentation and Information
                         Regarding Receivables................................14
         SECTION 4.12. Servicer Expenses......................................14
         SECTION 4.13. Appointment of Subservicer.............................14

ARTICLE V     Distributions: Spread Account; Statements to
              Certificateholders and Noteholders..............................15
         SECTION 5.1.  Establishment of Trust Accounts........................15
         SECTION 5.2.  Collections............................................17
         SECTION 5.3.  Application of Collections.............................18
         SECTION 5.4.  Additional Deposits....................................18
         SECTION 5.5.  Distributions..........................................18

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         SECTION 5.6.  Spread Account.........................................20
         SECTION 5.7.  Pre-Funding Account....................................21
         SECTION 5.8.  Negative Carry Account.................................21
         SECTION 5.9.  Principal Supplement Account...........................22
         SECTION 5.10. Statements to Certificateholders and Noteholders.......22
         SECTION 5.11. Net Deposits...........................................24

ARTICLE VI    The Seller......................................................24
         SECTION 6.1.  Representations of Seller..............................24
         SECTION 6.2.  Corporate Existence....................................25
         SECTION 6.3.  Liability of Seller; Indemnities.......................26
         SECTION 6.4.  Merger or Consolidation of, or Assumption of the
                         Obligations of, Seller...............................27
         SECTION 6.5.  Limitation on Liability of Seller and Others...........27
         SECTION 6.6.  Seller May Own Certificates or Notes...................28

ARTICLE VII  The Servicer.....................................................28
         SECTION 7.1.  Representations of Servicer............................28
         SECTION 7.2.  Indemnities of Servicer................................30
         SECTION 7.3.  Merger or Consolidation of, or Assumption of the
                         Obligations of, Servicer.............................32
         SECTION 7.4.  Limitation on Liability of Servicer and Others.........32
         SECTION 7.5.  Case Credit Not to Resign as Servicer..................33
         SECTION 7.6.  Servicer to Act as Administrator.......................33

ARTICLE VIII  Default.........................................................33
         SECTION 8.1.  Servicer Default.......................................33
         SECTION 8.2.  Appointment of Successor Servicer......................35
         SECTION 8.3.  Notification to Noteholders and Certificateholders.....35
         SECTION 8.4.  Waiver of Past Defaults................................36

ARTICLE IX  Termination.......................................................36
         SECTION 9.1.  Optional Purchase of All Receivables...................36

ARTICLE X     Miscellaneous Provisions........................................37
         SECTION 10.1.  Amendment.............................................37
         SECTION 10.2.  Protection of Title to Trust..........................39
         SECTION 10.3.  Notices...............................................41
         SECTION 10.4.  Assignment............................................41
         SECTION 10.5.  Limitations on Rights of Others.......................42
         SECTION 10.6.  Severability..........................................42

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         SECTION 10.7.  Separate Counterparts.................................42
         SECTION 10.8.  Headings..............................................42
         SECTION 10.9.  Governing Law.........................................42
         SECTION 10.10. Assignment to Indenture Trustee.......................42
         SECTION 10.11. Nonpetition Covenants.................................42
         SECTION 10.12. Limitation of Liability of Trustee and Indenture
                          Trustee.............................................43
         SECTION 10.13. Conditions Precedent to Other Financing
                          Transactions........................................43

                                    iii

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                                  EXHIBITS

EXHIBIT A           Form of Noteholder's Statement Pursuant to Section 5.10(a)
EXHIBIT B           Form of Certificateholder's Statement Pursuant to
                          Section 5.10(a)
EXHIBIT C           Form of Servicer's Certificate
EXHIBIT D           Form of Assignment
EXHIBIT E           Form of Subsequent Transfer Assignment
EXHIBIT F           Form of Accountants' Letter in Connection with Subsequent
                          Transfer Assignment

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         SALE AND SERVICING AGREEMENT (as amended or otherwise modified,
this "Agreement") dated as of September 1, 2000, among CNH EQUIPMENT TRUST
2000-B, a Delaware business trust (the "Issuer"), CNH CAPITAL RECEIVABLES
INC., a Delaware corporation (the "Seller"), and CASE CREDIT CORPORATION, a
Delaware corporation (the "Servicer").

                                  RECITALS

         WHEREAS, the Issuer desires to purchase a portfolio of Contracts
 purchased or originated by Case Credit Corporation ("Case Credit") or New
Holland Credit Company, LLC ("NH Credit"), in the ordinary course of
business and sold to the Seller on a monthly basis pursuant to the
Liquidity Receivables Purchase Agreement and/or the Purchase Agreements;

         WHEREAS, the Seller is willing to sell such Contracts to the Issuer;
and

         WHEREAS, Case Credit is willing to service such Contracts.

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

                                 ARTICLE I
                                Definitions

         SECTION 1.1. Definitions. Capitalized terms used herein and not
otherwise defined herein are defined in Appendix A to the Indenture, dated
as of the date hereof, between CNH Equipment Trust 2000-B and Bank One,
National Association.

         SECTION 1.2.  Other Definitional Provisions. (a)  All terms defined
in this Agreement shall have the defined meanings when used in any certificate
or other document made or delivered pursuant hereto unless otherwise defined
therein.

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

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accounting principles, the definitions contained in this Agreement or in
any such certificate or other document shall control.

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

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

                                 ARTICLE II
                         Conveyance of Receivables

         SECTION 2.1. Conveyance of Initial Receivables. In consideration
of the Issuer's delivery to or upon the order of the Seller on the Closing
Date of the net proceeds from the sale of the Notes and the Certificates
and the other amounts to be distributed from time to time to the Seller in
accordance with this Agreement, the Seller does hereby sell, transfer,
assign, set over and otherwise convey to the Issuer, without recourse
(subject to the obligations herein), all of its right, title and interest
in, to and under the following (collectively, the "Initial Assets"):

                  (a) the Initial Receivables, including all documents
         constituting chattel paper included therewith, and all obligations
         of the Obligors thereunder, including all moneys paid thereunder
         on or after the Initial Cutoff Date;

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

                  (c) any proceeds with respect to the Initial Receivables from
         claims on insurance policies covering Financed Equipment or Obligors;

                  (d) the Liquidity Receivables Purchase Agreement (only
         with respect to Owned Contracts included in the Initial
         Receivables) and the Purchase Agreements, including the right of
         the Seller to cause Case Credit or NH Credit, as the case may be,
         to repurchase Initial Receivables from the Seller under the
         circumstances described therein;

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                  (e) any proceeds from recourse to Dealers with respect to
         the Initial Receivables other than any interest in the Dealers'
         reserve accounts maintained with Case Credit or with NH Credit;

                  (f) any Financed Equipment that shall have secured an
         Initial Receivable and that shall have been acquired by or on
         behalf of the Trust;

                  (g) all funds on deposit from time to time in the Trust
         Accounts, including the Spread Account Initial Deposit, any
         Principal Supplement Account Deposit, the Negative Carry Account
         Initial Deposit and the Pre-Funded Amount, and in all investments
         and proceeds thereof (including all income thereon); and

                  (h) any True Lease Equipment that is subject to any Initial
         Receivable; and

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

The above assignment shall be evidenced by a duly executed written
assignment in substantially the form of Exhibit D (the "Assignment"). The
Purchase Price for the Initial Receivables shall equal $500,031,600.51.

         SECTION 2.2. Conveyance of Subsequent Receivables. (a) Subject to
the conditions set forth in clause (b) below, in consideration of the
Trustee's delivery on the related Subsequent Transfer Date to or upon the
order of the Seller of the amount described in Section 5.7(a) to be
delivered to the Seller, the Seller does hereby sell, transfer, assign, set
over and otherwise convey to the Issuer, without recourse (subject to the
obligations herein), all of its right, title and interest in, to and under
(collectively, the "Subsequent Assets"; and together with the Initial
Assets, the "CNHCR Assets"):

                  (i) the Subsequent Receivables listed on Schedule A to
         the related Subsequent Transfer Assignment, including all
         documents constituting chattel paper included therewith, and all
         obligations of the Obligors thereunder, including all moneys paid
         thereunder on or after the related Subsequent Cutoff Date;

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

                  (iii) any proceeds with respect to such Subsequent
         Receivables from claims on insurance policies covering Financed
         Equipment or Obligors;

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                  (iv) the Liquidity Receivables Purchase Agreement (only
         with respect to Subsequent Receivables purchased by the Seller
         pursuant to that Agreement) and the Purchase Agreements, including
         the right of the Seller to cause Case Credit or NH Credit, as the
         case may be, to repurchase Subsequent Receivables from the Seller
         under the circumstances described therein;

                  (v) any proceeds with respect to such Subsequent
         Receivables from recourse to Dealers other than any interest in
         the Dealers' reserve accounts maintained with Case Credit or with
         NH Credit;

                  (vi) any Financed Equipment that shall have secured any
         such Subsequent Receivable and that shall have been acquired by or
         on behalf of the Trust;

                  (vii) any True Lease Equipment that is subject to any
         Subsequent Receivable; and

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

         (b) The Seller shall transfer to the Issuer the Subsequent
Receivables and the other property and rights related thereto described in
clause (a) only upon the satisfaction of each of the following conditions
precedent on or prior to the related Subsequent Transfer Date:

                  (i) the Seller shall have delivered to the Trustee and
         the Indenture Trustee a duly executed written assignment in
         substantially the form of Exhibit E (the "Subsequent Transfer
         Assignment"), which shall include a Schedule A to the Subsequent
         Transfer Assignment listing the Subsequent Receivables;

                  (ii) the Seller shall, to the extent required by Section
         5.2, have deposited in the Collection Account all collections in
         respect of the Subsequent Receivables;

                  (iii) as of such Subsequent Transfer Date: (A) the Seller
         was not insolvent and will not become insolvent as a result of the
         transfer of Subsequent Receivables on such Subsequent Transfer
         Date, (B) the Seller did not intend to incur or believe that it
         would incur debts that would be beyond the Seller's ability to pay
         as such debts matured, (C) such transfer was not made with actual
         intent to hinder, delay or defraud any Person and (D) the assets
         of the Seller did not constitute unreasonably small capital to
         carry out its business as conducted;

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                  (iv) the applicable Spread Account Initial Deposit for
         such Subsequent Transfer Date shall have been made;

                  (v) the applicable Principal Supplement Account Deposit,
         if any, for such Subsequent Transfer Date shall have been made;

                  (vi) the Receivables in the Trust, including the
         Subsequent Receivables to be conveyed to the Trust on such
         Subsequent Transfer Date, shall meet the following criteria: (A)
         the weighted average original term of the Receivables in the Trust
         will not be greater than 55.0 months, and (B) not more than 50% of
         the aggregate Contract Value of the Receivables in the Trust will
         represent Contracts for the financing of construction equipment,
         (C) not more than 5% of the aggregate Contract Value of the
         Receivables in the Trust will represent Contracts for the
         financing of all-terrain vehicles, snowmobiles or marine vessels
         collectively, and (D) none of the Receivables in the Trust will
         represent Contracts originated through Case Credit's Soris
         financing program;

                  (vii) the Funding Period shall not have terminated;

                  (viii) each of the representations and warranties made by
         the Seller pursuant to Section 3.1 of this Agreement and by Case
         Credit and NH Credit pursuant to Section 3.2(b) of the related
         Purchase Agreement, in each case with respect to the Subsequent
         Receivables, shall be true and correct as of such Subsequent
         Transfer Date, and the Seller shall have performed all obligations
         to be performed by it hereunder on or prior to such Subsequent
         Transfer Date;

                  (ix) the Seller shall, at its own expense, on or prior to
         such Subsequent Transfer Date, indicate in its computer files that
         the Subsequent Receivables identified in the related Subsequent
         Transfer Assignment have been sold to the Issuer pursuant to this
         Agreement and the Subsequent Transfer Assignment;

                  (x) the Seller shall have taken any action required to
         maintain the first priority perfected ownership interest of the
         Issuer in the Trust Estate and the first perfected security
         interest of the Indenture Trustee in the Collateral;

                  (xi) no selection procedures believed by the Seller to be
         adverse to the interests of the Trust, the Noteholders or the
         Certificateholders shall have been utilized in selecting the
         Subsequent Receivables;

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                 (xii) the addition of the Subsequent Receivables will not
         result in a material adverse tax consequence to the Trust, the
         Noteholders or the Certificateholders;

                  (xiii) the Seller shall have provided the Indenture
         Trustee, the Trustee and the Rating Agencies a statement listing
         the aggregate Contract Value of such Subsequent Receivables and
         any other information reasonably requested by any of the foregoing
         with respect to such Subsequent Receivables;

                  (xiv) the Seller shall have delivered: (A) to the Rating
         Agencies, an Opinion of Counsel with respect to the transfer of
         such Subsequent Receivables substantially in the form of the
         Opinion of Counsel delivered to the Rating Agencies on the Closing
         Date and (B) to the Trustee and the Indenture Trustee, the Opinion
         of Counsel required by Section 10.2(i)(1);

                  (xv) the Seller shall have delivered to the Trustee and
         the Indenture Trustee a letter of a firm of independent certified
         public accountants confirming the satisfaction of the conditions
         set forth in clause (vi) with respect to the Subsequent
         Receivables, and covering substantially the same matters with
         respect to the Subsequent Receivables as are set forth in Exhibit
         F hereto;

                  (xvi) the Seller shall have delivered to the Indenture
         Trustee and the Trustee an Officers' Certificate confirming the
         satisfaction of each condition specified in this clause (b)
         (substantially in the form attached hereto as Annex A to the
         Subsequent Transfer Assignment); and

                  (xvii) Moody's shall have received written notification
         from the Seller of the addition of all such Subsequent
         Receivables.

         (c) The Seller covenants to transfer to the Issuer pursuant to
clause (a) Subsequent Receivables with an aggregate Contract Value equal to
$499,968,399.49 subject only to availability thereof.

                                ARTICLE III
                              The Receivables

         SECTION 3.1. Representations and Warranties of Seller. The Seller
makes the following representations and warranties as to the Receivables on
which the Issuer is deemed to have relied in acquiring the Receivables.
Such representations and warranties speak as of the execution and delivery
of this Agreement and as of the Closing Date, in the case of the Initial
Receivables, and as of the applicable Subsequent Transfer Date, in the case

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of the Subsequent Receivables, but shall survive the sale, transfer and
assignment of the Receivables to the Issuer and the pledge thereof to the
Indenture Trustee pursuant to the Indenture.

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

         If (but only to the extent) that the transfer of the CNHCR Assets
hereunder is characterized by a court or other governmental authority as a
loan rather than a sale, the Seller shall be deemed hereunder to have
granted to the Issuer a security interest in all of Seller's right, title
and interest in and to the CNHCR Assets. Such security interest shall
secure all of Seller's obligations (monetary or otherwise) under this
Agreement and the other Basic Documents to which it is a party, whether now
or hereafter existing or arising, due or to become due, direct or indirect,
absolute or contingent. The Seller shall have, with respect to the property
described in Section 2.1 and Section 2.2, and in addition to all the other
rights and remedies available to Seller under this Agreement and applicable
law, all the rights and remedies of a secured party under any applicable
UCC, and this Agreement shall constitute a security agreement under
applicable law.

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

         SECTION 3.2. Repurchase upon Breach. (a) The Seller, the Servicer
or the Trustee, as the case may be, shall inform the other parties to this
Agreement and the Indenture Trustee promptly, in writing, upon the
discovery of any breach of the Seller's representations and warranties made
pursuant to Section 3.1 or Section 6.1, Case Credit's representations and
warranties made pursuant to Section 3.2(b) of the Liquidity Receivables
Purchase Agreement, Case Credit's representations and warranties made
pursuant to Section 3.2(b) of the Case Purchase Agreement or NH Credit's
representations and warranties made pursuant to Section 3.2(b) of the NH
Purchase Agreement. Unless any such breach shall have been cured by the
last day of the second (or, if the Seller elects, the first) Collection
Period after such breach is discovered by the Trustee or in which the

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Trustee receives written notice from the Seller or the Servicer of such
breach, the Seller shall be obligated, and, if necessary, the Seller or the
Trustee shall enforce the obligation of Case Credit under the Liquidity
Receivables Purchase Agreement, of Case Credit under the Case Purchase
Agreement or of NH Credit under the NH Purchase Agreement, as applicable,
to repurchase any Receivable materially and adversely affected by any such
breach as of such last day. As consideration for the repurchase of the
Receivable, the Seller shall remit the Purchase Amount in the manner
specified in Section 5.4; provided, however, that the obligation of the
Seller to repurchase any Receivable arising solely as a result of a breach
of Case Credit's representations and warranties pursuant to Section 3.2(b)
of the Liquidity Receivables Purchase Agreement, of Case Credit's
representations and warranties pursuant to Section 3.2(b) of the Case
Purchase Agreement or NH Credit's representations and warranties pursuant
to Section 3.2(b) of the NH Purchase Agreement is subject to the receipt by
the Seller of the Purchase Amount from Case Credit or NH Credit, as
applicable. Subject to the provisions of Section 6.3, the sole remedy of
the Issuer, the Trustee, the Indenture Trustee, the Noteholders or the
Certificateholders with respect to a breach of the representations and
warranties pursuant to Section 3.1 and the agreement contained in this
Section shall be to require the Seller to repurchase Receivables pursuant
to this Section, subject to the conditions contained herein, and to enforce
Case Credit's or NH Credit's obligation to the Seller to repurchase such
Receivables pursuant to the Liquidity Receivables Purchase Agreement, the
Case Purchase Agreement or the NH Purchase Agreement, as applicable.

         (b) With respect to all Receivables repurchased by the Seller
pursuant to this Agreement, the Issuer shall sell, transfer, assign, set
over and otherwise convey to the Seller, without recourse, representation
or warranty, all of the Issuer's right, title and interest in, to and under
such Receivables, and all security and documents relating thereto.

         SECTION 3.3. Custody of Receivable Files. To assure uniform
quality in servicing the Receivables and to reduce administrative costs,
the Issuer hereby revocably appoints the Servicer, and the Servicer hereby
accepts such appointment, to act for the benefit of the Issuer and the
Indenture Trustee as custodian of the following documents or instruments,
which are hereby constructively delivered to the Indenture Trustee, as
pledgee of the Issuer (or, in the case of the Subsequent Receivables, will
as of the applicable Subsequent Transfer Date be constructively delivered
to the Indenture Trustee, as pledgee of the Issuer) with respect to each
Receivable:

                  (a) the original fully executed copy of the Receivable;

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

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                  (c) the original certificate of title or file stamped
         copy of the UCC financing statement or such other documents that
         the Servicer shall keep on file, in accordance with its customary
         procedures, evidencing the security interest of Case Credit or, in
         the case of a NH Receivable, NH Credit in the Financed Equipment;
         and

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

         SECTION 3.4.  Duties of Servicer as Custodian.

         (a) Safekeeping. The Servicer shall hold the Receivable Files for
the benefit of the Issuer and the Indenture Trustee and maintain such
accurate and complete accounts, records and computer systems pertaining to
each Receivable File as shall enable the Issuer to comply with this
Agreement. In performing its duties as custodian, the Servicer shall act
with reasonable care, using that degree of skill and attention that the
Servicer exercises with respect to the receivable files relating to all
comparable equipment receivables that the Servicer services for itself or
others. The Servicer shall conduct, or cause to be conducted, periodic
audits of the Receivable Files and the related accounts, records and
computer systems, in such a manner as shall enable the Issuer or the
Indenture Trustee to verify the accuracy of the Servicer's record keeping.
The Servicer shall promptly report to the Issuer and the Indenture Trustee
any failure on its part to hold the Receivable Files and maintain its
accounts, records and computer systems as herein provided and promptly take
appropriate action to remedy any such failure. Nothing herein shall be
deemed to require an initial review or any periodic review by the Issuer,
the Trustee or the Indenture Trustee of the Receivable Files.

         (b) Maintenance of and Access to Records. The Servicer shall
maintain each Receivable File at one of its offices or, in the case of a NH
Receivable, at one of NH Credit's offices; provided that at no time shall a
Receivable File be moved to an office or location outside the geographic
boundaries of the United States. The Servicer shall make available for
inspection by the Seller, the Issuer and the Indenture Trustee or their
respective duly authorized representatives, attorneys or auditors a list of
locations of the Receivable Files and the related accounts, records and
computer systems maintained by the Servicer at such times during normal
business hours as the Seller, the Issuer or the Indenture Trustee shall
instruct.

         SECTION 3.5. Instructions; Authority To Act. The Servicer shall be
deemed to have received proper instructions with respect to the Receivable
Files upon its receipt of written instructions signed by a Trust Officer of
the Indenture Trustee.

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<PAGE>

         SECTION 3.6. Custodian's Indemnification. The Servicer as
custodian shall indemnify the Trust, the Trustee and the Indenture Trustee
(and each of their officers, directors, employees and agents) for any and
all liabilities, obligations, losses, compensatory damages, payments, costs
or expenses of any kind whatsoever that may be imposed on, incurred by or
asserted against the Trust, the Trustee or the Indenture Trustee (or any of
their officers, directors and agents) as the result of any improper act or
omission in any way relating to the maintenance and custody by the Servicer
as custodian of the Receivable Files; provided, however, that the Servicer
shall not be liable: (a) to the Trustee for any portion of any such amount
resulting from the willful misfeasance, bad faith or negligence of the
Trustee, and (b) to the Indenture Trustee for any portion of any such
amount resulting from the wilful misfeasance, bad faith or negligence of
the Indenture Trustee; and, provided further, that the Servicer shall only
be liable pursuant to this Section 3.6 for its acts or omissions committed
during the period it is serving as custodian hereunder. Indemnification
under this Section shall survive the resignation or removal of the Servicer
as custodian, the resignation or removal of the Indenture Trustee or the
termination of this Agreement.

         SECTION 3.7. Effective Period and Termination. The Servicer's
appointment as custodian shall become effective as of the Initial Cutoff
Date and shall continue in full force and effect until terminated pursuant
to this Section. If any Servicer shall resign as Servicer in accordance
with this Agreement or if all of the rights and obligations of any Servicer
shall have been terminated under Section 8.1, the appointment of such
Servicer as custodian shall be terminated by: (a) the Indenture Trustee,
(b) the Noteholders of Notes evidencing not less than 25% of the Note
Balance, (c) with the consent of Noteholders of Notes evidencing not less
than 25% of the Note Balance, the Trustee or (d) Certificateholders
evidencing not less than 25% of the Certificate Balance, in the same manner
as the Indenture Trustee or such Holders may terminate the rights and
obligations of the Servicer under Section 8.1. The Indenture Trustee or,
with the consent of the Indenture Trustee, the Trustee may terminate the
Servicer's appointment as custodian, with cause, at any time upon written
notification to the Servicer, and without cause upon 30 days' prior written
notification to the Servicer. As soon as practicable after any termination
of such appointment, the Servicer shall deliver the Receivable Files to the
Indenture Trustee or the Indenture Trustee's agent at such place(s) as the
Indenture Trustee may reasonably designate.

                                 ARTICLE IV
                Administration and Servicing of Receivables

         SECTION 4.1.  Duties of Servicer. The Servicer, for the benefit of the
Issuer, and (to the extent provided herein) the Indenture Trustee shall manage,
service, administer and make collections on the Receivables with reasonable

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care, using that degree of skill and attention that the Servicer exercises
with respect to all comparable equipment receivables that it services for
itself or others. The Servicer's duties shall include collection and
posting of all payments, responding to inquiries of Obligors on such
Receivables, investigating delinquencies, sending payment coupons to
Obligors, reporting tax information to Obligors, accounting for collections
and furnishing monthly and annual statements to the Trustee and the
Indenture Trustee with respect to distributions. Subject to Section 4.2,
the Servicer shall follow its customary standards, policies and procedures
in performing its duties as Servicer. Notwithstanding anything herein to
the contrary, it is understood and agreed that, subject to Section 4.2, in
servicing the NH Receivables the Servicer shall follow NH Credit's
customary standards, policies and procedures in performing its duties as
Servicer with respect to the NH Receivables.

         Without limiting the generality of the foregoing, the Servicer is
authorized and empowered to execute and deliver, on behalf of itself, the
Issuer, the Trustee, the Indenture Trustee, the Certificateholders, the
Noteholders or any of them, any and all instruments of satisfaction or
cancellation, or partial or full release or discharge, and all other
comparable instruments, with respect to such Receivables or the Financed
Equipment securing such Receivables. If the Servicer shall commence a legal
proceeding to enforce a Receivable, the Issuer shall thereupon be deemed to
have automatically assigned, solely for the purpose of collection, such
Receivable to the Servicer. If in any enforcement suit or legal proceeding
it shall be held that the Servicer may not enforce a Receivable on the
ground that it shall not be a real party in interest or a holder entitled
to enforce such Receivable, the Trustee shall, at the Servicer's expense
and direction, take steps to enforce such Receivable, including bringing
suit in its name or the name of the Trust, the Indenture Trustee, the
Certificateholders or the Noteholders. The Trustee or the Indenture Trustee
shall, upon the written request of the Servicer, furnish the Servicer with
any powers of attorney and other documents reasonably necessary or
appropriate to enable the Servicer to carry out its servicing and
administrative duties hereunder.

         SECTION 4.2. Collection and Allocation of Receivable Payments. The
Servicer shall make reasonable efforts to collect all payments called for
under the Receivables as and when the same shall become due and shall
follow such collection procedures as it (or, with respect to a NH
Receivable, NH Credit) follows with respect to all comparable equipment
receivables that it services for itself or others. The Servicer shall
allocate collections between principal and interest in accordance with the
customary servicing procedures it follows with respect to all comparable
equipment receivables that it (or, with respect to a NH Receivable, NH
Credit) services for itself or others. The Servicer may grant extensions or
adjustments on a Receivable; provided, however, that if the Servicer
extends the date for final payment by the Obligor of any Receivable beyond
the Final Scheduled Maturity Date, it shall promptly purchase the
Receivable from the Issuer in accordance with Section 4.6. The Servicer
may, in its discretion, waive any late payment charge or any other fees

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(other than extension fees or any other fees that represent interest
charges on deferred Scheduled Payments) that may be collected in the
ordinary course of servicing a Receivable. The Servicer shall not agree to
any decrease of the interest rate on any Receivable or reduce the aggregate
amount of the Scheduled Payments due on any Receivable.

         SECTION 4.3. Realization upon Receivables. For the benefit of the
Issuer and the Indenture Trustee, the Servicer shall use reasonable
efforts, consistent with its customary servicing procedures, to repossess
or otherwise convert the ownership of the Financed Equipment securing any
Receivable as to which the Servicer shall have determined eventual payment
in full is unlikely. The Servicer shall follow such customary and usual
practices and procedures as it shall deem necessary or advisable in its
servicing of equipment receivables, which may include reasonable efforts to
realize upon any recourse to Dealers and selling the Financed Equipment at
public or private sale. The foregoing shall be subject to the provision
that, in any case in which the Financed Equipment shall have suffered
damage, the Servicer shall not expend funds in connection with the repair
or the repossession of such Financed Equipment unless it shall determine in
its discretion that such repair and/or repossession will increase the
Liquidation Proceeds by an amount greater than the amount of such expenses.

         SECTION 4.4. Maintenance of Security Interests in Financed
Equipment. The Servicer shall, in accordance with its customary servicing
procedures, take such steps as are necessary to maintain perfection of the
security interest created by each Receivable in the related Financed
Equipment. The Servicer is hereby authorized to take such steps as are
necessary to re-perfect such security interest for the benefit of the
Issuer and the Indenture Trustee in the event of the relocation of any
Financed Equipment, any change to the UCC or for any other reason.

         SECTION 4.5. Covenants of Servicer. The Servicer shall not release
the Financed Equipment securing any Receivable from the security interest
granted by such Receivable in whole or in part except in the event of
payment in full by the Obligor thereunder or repossession, nor shall the
Servicer impair the rights of the Issuer, the Indenture Trustee, the
Certificateholders or the Noteholders in such Receivables. The Servicer
shall, in accordance with its customary servicing procedures, require that
each Obligor shall have obtained physical damage insurance covering the
Financed Equipment as of the execution of the Receivable.

         SECTION 4.6. Purchase of Receivables upon Breach. The Servicer or
the Trustee shall inform the other party, the Indenture Trustee, the Seller
and Case Credit promptly, in writing, upon the discovery of any breach
pursuant to Section 4.2, 4.4 or 4.5. Unless the breach shall have been
cured by the last day of the Collection Period in which such breach is
discovered, the Servicer shall purchase any Receivable materially and

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<PAGE>

adversely affected by such breach as of such last day. If the Servicer
takes any action during any Collection Period pursuant to Section 4.2 that
impairs the rights of the Issuer, the Indenture Trustee, the
Certificateholders or the Noteholders in any Receivable or as otherwise
provided in Section 4.2, the Servicer shall purchase such Receivable as of
the last day of such Collection Period. As consideration for the purchase
of any such Receivable pursuant to either of the two preceding sentences,
the Servicer shall remit the Purchase Amount in the manner specified in
Section 5.4. Subject to Section 7.2, the sole remedy of the Issuer, the
Trustee, the Indenture Trustee, the Certificateholders or the Noteholders
with respect to a breach pursuant to Section 4.2, 4.4 or 4.5 shall be to
require the Servicer to purchase Receivables pursuant to this Section. The
Trustee shall have no duty to conduct any affirmative investigation as to
the occurrence of any condition requiring the purchase of any Receivable
pursuant to this Section.

         SECTION 4.7.  Servicing Fee. The Servicing Fee for each Collection
Period shall be equal to 1/12th of 1.00% of the Pool Balance as of the first
day of such Collection Period.

         SECTION 4.8. Servicer's Certificate. On each Determination Date
the Servicer shall deliver to the Trustee, the Indenture Trustee and the
Seller, with a copy to the Rating Agencies, a Servicer's Certificate
containing all information necessary to make the distributions pursuant to
Sections 5.5 and 5.6 and the deposits to the Collection Account pursuant to
Section 5.2 for the Collection Period preceding the date of such Servicer's
Certificate. Receivables to be repurchased by the Seller or purchased by
the Servicer shall be identified by the Servicer by account number with
respect to such Receivable (as specified in the schedule of Receivables
delivered on the Closing Date or attached to the applicable Subsequent
Transfer Assignment).

         SECTION 4.9. Annual Statement as to Compliance; Notice of Default.
(a) The Servicer shall deliver to the Trustee and the Indenture Trustee, on
or before April 30th of each year, an Officers' Certificate, dated as of
December 31 of the preceding year, stating that: (i) a review of the
activities of the Servicer during the preceding 12-month period (or, in the
case of the first such certificate, from the Initial Cutoff Date to
December 31, 2000) and of its performance under this Agreement has been
made under such officers' supervision and (ii) to the best of such
officers' knowledge, based on such review, the Servicer has fulfilled all
its obligations under this Agreement throughout such year or, if there has
been a default in the fulfillment of any such obligation, specifying each
such default known to such officers and the nature and status thereof. The
Indenture Trustee shall send a copy of such Certificate and the report
referred to in Section 4.10 to the Rating Agencies. A copy of such
Certificate and report may be obtained by any Certificateholder or
Noteholder by a request in writing to the Trustee addressed to the
Corporate Trust Office. Upon the written request of the Trustee, the
Indenture Trustee will promptly furnish the Trustee a list of Noteholders
as of the date specified by the Trustee.

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<PAGE>

         (b) The Servicer shall deliver to the Trustee, the Indenture
Trustee and the Rating Agencies, promptly after having obtained knowledge
thereof, but in no event later than five Business Days thereafter, written
notice in an Officers' Certificate of any event that, with the giving of
notice or lapse of time, or both, would become a Servicer Default under
Section 8.1(a) or (b).

         SECTION 4.10. Annual Independent Certified Public Accountants'
Report. The Servicer shall cause a firm of independent certified public
accountants, which may also render other services to the Servicer, the
Seller or any other Affiliate of CNH Global, to deliver to the Trustee and
the Indenture Trustee on or before April 30 of each year a report,
addressed to the Board of Directors of the Servicer, the Trustee and the
Indenture Trustee, summarizing the results of certain procedures with
respect to certain documents and records relating to the servicing of the
Receivables during the preceding calendar year (or, in the case of the
first such report, during the period from the Initial Cutoff Date to
December 31, 2000). The procedures to be performed and reported upon by the
independent public accountants shall be those agreed to by the Servicer and
the Indenture Trustee.

         Such report will also indicate that the firm is independent of the
Servicer within the meaning of the Code of Professional Ethics of the
American Institute of Certified Public Accountants.

         SECTION 4.11. Access to Certain Documentation and Information
Regarding Receivables. The Servicer shall provide to the Trustee and the
Indenture Trustee access to the Receivable Files in such cases where the
Trustee or the Indenture Trustee shall be required by applicable statutes
or regulations to review such documentation. Access shall be afforded
without charge, but only upon reasonable request and during the normal
business hours at the respective offices of the Servicer (or, in the case
of the NH Receivables, NH Credit). Nothing in this Section shall affect the
obligation of the Servicer to observe any applicable law prohibiting
disclosure of information regarding the Obligors, and the failure of the
Servicer to provide access to information as a result of such obligation
shall not constitute a breach of this Section.

         SECTION 4.12. Servicer Expenses. The Servicer shall be required to
pay all expenses incurred by it in connection with its activities
hereunder, including fees and disbursements of independent accountants,
taxes imposed on the Servicer and expenses incurred in connection with
distributions and reports to Certificateholders and the Noteholders.

         SECTION 4.13. Appointment of Subservicer. The Servicer may at any
time appoint a subservicer to perform all or any portion of its obligations
as Servicer hereunder; provided, however, that the Rating Agency Condition
shall have been satisfied in connection therewith (other than with respect

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<PAGE>

to the appointment of NH Credit, as subservicer, with respect to the NH
Receivables); and provided further, that the Servicer shall remain
obligated and be liable to the Issuer, the Trustee, the Indenture Trustee,
the Certificateholders and the Noteholders for the servicing and
administering of the Receivables in accordance with the provisions hereof
without diminution of such obligation and liability by virtue of the
appointment of such subservicer and to the same extent and under the same
terms and conditions as if the Servicer alone were servicing and
administering the Receivables. The fees and expenses of the subservicer
shall be as agreed between the Servicer and its subservicer from time to
time and none of the Issuer, the Trustee, the Indenture Trustee, the
Certificateholders or the Noteholders shall have any responsibility
therefor.

                                 ARTICLE V
                       Distributions: Spread Account;
              Statements to Certificateholders and Noteholders

         SECTION 5.1. Establishment of Trust Accounts. (a)(i) The Servicer,
for the benefit of the Noteholders and the Certificateholders, shall
establish and maintain in the name of the Indenture Trustee an Eligible
Deposit Account (the "Collection Account"), bearing a designation clearly
indicating that the funds deposited therein are held for the benefit of the
Noteholders and the Certificateholders.

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

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

                  (iv) The Servicer, for the benefit of the Noteholders and
         the Certificateholders, shall establish and maintain in the name
         of the Indenture Trustee an Eligible Deposit Account (the
         "Pre-Funding Account"), bearing a designation clearly indicating
         that the funds deposited therein are held for the benefit of the
         Noteholders and the Certificateholders.

                  (v) The Servicer, for the benefit of the Noteholders and
         the Certificateholders, shall establish and maintain in the name
         of the Indenture Trustee an Eligible Deposit Account (the

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<PAGE>

         "Negative Carry Account"), bearing a designation clearly indicating
         that the funds deposited therein are held for the benefit of the
         Noteholders and the Certificateholders.

                  (vi) The Servicer, for the benefit of the Noteholders and
         the Certificateholders, shall establish and maintain in the name
         of the Indenture Trustee an Eligible Deposit Account (the
         "Principal Supplement Account"), bearing a designation clearly
         indicating that the funds deposited therein are held for the
         benefit of the Noteholders and the Certificateholders.

         (b) Funds on deposit in the Collection Account, the Note
Distribution Account, the Spread Account, the Pre-Funding Account, the
Negative Carry Account and the Principal Supplement Account, (collectively,
the "Trust Accounts") shall be invested or reinvested by the Indenture
Trustee in Eligible Investments selected by and as directed in writing by
the Servicer (which written direction may be in the form of standing
instructions); provided, however, it is understood and agreed that the
Indenture Trustee shall not be liable for the selection of, or any loss
arising from such investment in, Eligible Investments. All such Eligible
Investments shall be held or controlled by the Indenture Trustee for the
benefit of the Noteholders and the Certificateholders or the Noteholders,
as applicable (and for the purposes of Articles 8 and 9 of the UCC, each
Eligible Investment is intended to constitute a Financial Asset, and each
of the Trust Accounts is intended to constitute a Securities Account);
provided, that on each Transfer Date, all Investment Earnings on funds on
deposit therein shall be deposited into the Collection Account and shall be
deemed to constitute a portion of the Total Distribution Amount. Other than
as permitted by the Rating Agencies, funds on deposit in the Trust Accounts
shall be invested in Eligible Investments that will mature so that such
funds will be available at the close of business on the Transfer Date
preceding the following Payment Date; provided, however, that funds on
deposit in Trust Accounts may be invested in Eligible Investments of the
entity serving as Indenture Trustee payable on demand or that mature so
that such funds will be available on the Payment Date. Funds deposited in a
Trust Account on the Transfer Date that precedes a Payment Date upon the
maturity or liquidation of any Eligible Investments are not required to be
invested overnight.

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

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<PAGE>

Eligible Deposit Account and shall transfer any cash and/or any investments
held in the no-longer Eligible Deposit Account to such new Trust Account.

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

                           (A) any Trust Account Property that is held in
                  deposit accounts shall be held solely in Eligible Deposit
                  Accounts, subject to the last sentence of Section
                  5.1(c)(i); and each such Eligible Deposit Account shall
                  be subject to the exclusive custody and control of the
                  Indenture Trustee, and the Indenture Trustee shall have
                  sole signature authority with respect thereto;

                           (B) any Trust Account Property that constitutes
                  a Certificated Security shall be delivered to the
                  Indenture Trustee in accordance with paragraph (i) of the
                  definition of "Delivery" and shall be held, pending
                  maturity or disposition, solely by the Indenture Trustee
                  or its agent;

                           (C) any such Trust Account Property that
                  constitutes an Uncertificated Security (including any
                  investments in money market mutual funds, but excluding
                  any Federal Book Entry Security) shall be delivered to
                  the Indenture Trustee in accordance with paragraph (ii)
                  of the definition of "Delivery" and shall be maintained,
                  pending maturity or disposition, through continued
                  registration of the Indenture Trustee's (or its custodian
                  or nominee's) ownership of such security; and

                           (D) with respect to any Trust Account Property
                  that constitutes a Federal Book Entry Security, the
                  Indenture Trustee shall maintain and obtain Control over
                  such property.

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

         (d)  All Trust Accounts will initially be established at the Indenture
Trustee.

         SECTION 5.2.  Collections. The Servicer shall, and shall cause any
subservicer to, remit within two Business Days of receipt thereof to the
Collection Account all payments by or on behalf of the Obligors with respect

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to the Receivables, and all Liquidation Proceeds, both as collected during
the Collection Period. Notwithstanding the foregoing, for so long as: (i)
Case Credit remains the Servicer, (ii) no Servicer Default shall have
occurred and be continuing and (iii) prior to ceasing daily remittances,
the Rating Agency Condition shall have been satisfied (and any conditions
or limitations imposed by the Rating Agencies in connection therewith are
complied with), the Servicer shall remit such collections with respect to
the related Collection Period to the Collection Account on the Transfer
Date immediately following the end of such Collection Period. For purposes
of this Article V, the phrase "payments by or on behalf of the Obligors"
shall mean payments made with respect to the Receivables by Persons other
than the Servicer or the Seller.

         SECTION 5.3.  Application of Collections. (a) With respect to each
Receivable, all collections for the Collection Period shall be applied to the
related Scheduled Payment.

         (b)  All Liquidation Proceeds shall be applied to the related
Receivable.

         SECTION 5.4. Additional Deposits. The Servicer and the Seller
shall deposit or cause to be deposited in the Collection Account the
aggregate Purchase Amount with respect to Purchased Receivables on the
Transfer Date related to the Collection Period on the last day of which the
purchase occurs, and the Servicer shall deposit therein all amounts to be
paid under Section 9.1 on the Transfer Date falling in the Collection
Period referred to in Section 9.1. The Servicer shall deposit the aggregate
Purchase Amount with respect to Purchased Receivables when such obligations
are due, unless the Servicer shall not be required to make daily deposits
pursuant to Section 5.2, in which case such deposits shall be made on the
Transfer Date following the related Collection Period.

         SECTION 5.5.  Distributions. (a) On each Determination Date, the
Servicer shall calculate all amounts required to determine the amounts to be
deposited in the Note Distribution Account, the Certificate Distribution
Account and the Spread Account.

         (b) On each Payment Date, the Servicer shall instruct the
Indenture Trustee (based on the information contained in the Servicer's
Certificate delivered on the related Determination Date pursuant to Section
4.8) to make from the Collection Account the following deposits and
distributions for receipt by the Servicer or deposit in the applicable
Trust Account or Certificate Distribution Account, as applicable, by 10:00
a.m. (New York time), to the extent of the Total Distribution Amount, in
the following order of priority:

                  (i) to the Administrator, the Administration Fee and all
         unpaid Administration Fees from prior Collection Periods;

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<PAGE>

                  (ii) to the Note Distribution Account, the Class Interest
         Amount for each Class of Class A Notes;

                  (iii) to the Note Distribution Account, the Class Interest
         Amount for the Class B Notes;

                  (iv) to the Note Distribution Account, the Class Principal
         Distributable Amount for each Class of Class A Notes;

                 (v) to the Note Distribution Account, the Class B Noteholders'
         Monthly Principal Distributable Amount;

                  (vi) to the Spread Account to the extent necessary so
         that the balance on deposit therein will equal the Specified
         Spread Account Balance;

                  (vii) to the Certificate Distribution Account, the
         Certificateholders' Interest Distributable Amount;

                  (viii) to the Certificate Distribution Account, the
         Certificateholders' Monthly Principal Distributable Amount;

                  (ix) to the Servicer, the Servicing Fee and all unpaid
         Servicing Fees from prior Collection Periods; provided that if
         Case Credit or an Affiliate of Case Credit is not the Servicer,
         the amounts described in this clause (ix) will be paid prior to
         any other application of funds on deposit in the Collection
         Account; and

                  (x) to the Seller, the remaining Total Distribution Amount;

         (c) On the A-1 Note Final Scheduled Maturity Date, the Servicer
shall instruct the Indenture Trustee to deposit from the Collection Account
into the Note Distribution Account by 10:00 a.m. (New York time), to the
extent of available funds on such day, an amount equal to the sum of (i)
the aggregate accrued and unpaid interest on the Class A-1 Notes as of the
A-1 Note Final Scheduled Maturity Date, and (ii) the amount necessary to
reduce the outstanding principal amount of the Class A-1 Notes to zero.

         It is understood and agreed that, with respect to the amounts to
be distributed pursuant to this Section 5.5(c), the Servicer shall, to the
extent necessary (i) deposit into the Collection Account any amounts
received as payments by or on behalf of any Obligor (and not previously
deposited into the Collection Account) on or prior to the A-1 Note Final
Scheduled Maturity Date, (ii) make each calculation that would otherwise be
made on a Determination Date (with appropriate adjustments) in accordance
with Section 4.8 on the Business Day immediately proceeding the A-1

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<PAGE>

Note Final Scheduled Maturity Date, (iii) on the Payment Date immediately
succeeding the A-1 Note Final Scheduled Maturity Date, make any adjustments
to the Class Principal Distributable Amount, the Class Interest Amount and
any other amount to be paid on such Payment Date, and (iv) make any other
calculation, adjustment or correction that may be required as a result of any
payment made on the A-1 Note Final Scheduled Maturity Date.

         SECTION 5.6.  Spread Account. (a) On the Closing Date and on each
Subsequent Transfer Date, the Seller shall deposit the applicable Spread
Account Initial Deposit into the Spread Account.

         (b) If the amount on deposit in the Spread Account on any Payment
Date (after giving effect to all deposits or withdrawals therefrom on such
Payment Date) is greater than the Specified Spread Account Balance for such
Payment Date, the Servicer shall instruct the Indenture Trustee to
distribute the amount of the excess to the Seller (and its transferees and
assignees in accordance with their respective interests); provided, that
if, after giving effect to all payments made on the Notes on such Payment
Date, the sum of the Pool Balance and the Pre-Funded Amount as of the first
day of the Collection Period in which such Payment Date occurs is less than
the sum of the Note Balance and the Certificate Balance, such excess shall
not be distributed to the Seller (or such transferees or assignees) and
shall be retained in the Spread Account for application in accordance with
this Agreement. Amounts properly distributed pursuant to this Section
5.6(b) shall be deemed released from the Trust and the security interest
therein granted to the Indenture Trustee, and the Seller (and such
transferees and assignees) shall in no event thereafter be required to
refund any such distributed amounts.

         (c) Following: (i) the payment in full of the aggregate
Outstanding Amount of the Notes and of all other amounts owing or to be
distributed hereunder or under the Indenture to the Noteholders, the
Trustee and the Indenture Trustee and (ii) the termination of the Trust,
any amount remaining on deposit in the Spread Account shall be distributed
to the Seller or any transferee or assignee pursuant to clause (g). The
Seller (and such transferees and assignees) shall in no event be required
to refund any amounts properly distributed pursuant to this Section 5.6(c).

         (d) In the event that the Noteholders' Distributable Amount for a
Payment Date exceeds the amount deposited into the Note Distribution
Account pursuant to Sections 5.5(b)(ii), (iii), (iv) and (v) on such
Payment Date, the Servicer shall instruct the Indenture Trustee on such
Payment Date to withdraw from the Spread Account on such Payment Date an
amount equal to such excess, to the extent of funds available therein, and
deposit such amount into the Note Distribution Account.

         (e) The Seller may at any time, without consent of the
Noteholders, sell, transfer, convey or assign in any manner its rights to

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<PAGE>

and interests in distributions from the Spread Account, including interest
and other investment earnings thereon; provided, that the Rating Agency
Condition is satisfied.

         SECTION 5.7. Pre-Funding Account. (a) On the Closing Date, the
Trustee will deposit, on behalf of the Seller, in the Pre-Funding Account
$499,968,399.49 from the net proceeds of the sale of the Notes and the
Certificates. On each Subsequent Transfer Date, the Servicer shall instruct
the Indenture Trustee to withdraw from the Pre-Funding Account an amount
equal to: (i) the aggregate Contract Value of the Subsequent Receivables
transferred to the Issuer on such Subsequent Transfer Date less the amounts
described in clause (ii) and clause (iii) below, and distribute such amount
to or upon the order of the Seller upon satisfaction of the conditions set
forth in Section 2.2(b) with respect to such transfer, (ii) the Spread
Account Initial Deposit for such Subsequent Transfer Date and, on behalf of
the Seller, deposit such amount in the Spread Account and (iii) the
Principal Supplement Account Deposit for such Subsequent Transfer Date,
and, on behalf of the Seller, deposit such amount in the Principal
Supplement Account.

         (b) If: (i) the Pre-Funded Amount has not been reduced to zero on
the Payment Date on which the Funding Period ends (or, if the Funding
Period does not end on a Payment Date, on the first Payment Date following
the end of the Funding Period) or (ii) the Pre-Funded Amount has been
reduced to $100,000 or less on any Determination Date, in either case after
giving effect to any reductions in the Pre-Funded Amount on such date
pursuant to paragraph (a), the Servicer shall instruct the Indenture
Trustee to withdraw from the Pre-Funding Account, in the case of clause
(i), on such Payment Date or, in the case of clause (ii), on the Payment
Date immediately succeeding such Determination Date, the amount remaining
at the time in the Pre-Funding Account (such remaining amount being the
"Remaining Pre-Funded Amount") and deposit such amounts in the Collection
Account, for inclusion in the Total Distribution Amount for that Payment
Date.

         SECTION 5.8. Negative Carry Account. On the Closing Date, the
Seller shall deposit the Negative Carry Account Initial Deposit into the
Negative Carry Account. On each Payment Date, the Servicer will instruct
the Indenture Trustee to withdraw from the Negative Carry Account and
deposit into the Collection Account an amount equal to the Negative Carry
Amount for such Collection Period. If the amount on deposit in the Negative
Carry Account on any Payment Date (after giving effect to the withdrawal
therefrom of the Negative Carry Amount for such Payment Date) is greater
than the Required Negative Carry Account Balance, the excess will be
released to the Seller.

         SECTION 5.9. Principal Supplement Account. On each Subsequent
Transfer Date the Servicer shall calculate the amount, if any, of the
Principal Supplement Account Deposit applicable to such Subsequent Transfer
Date, and, if such amount is positive, the Seller shall deposit such amount

                                     21

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into the Principal Supplement Account. In the event that the Noteholders'
Distributable Amount for a Payment Date exceeds the amount deposited into
the Note Distribution Account pursuant to Sections 5.5(b)(ii), (iii), (iv)
and (v) and Section 5.6(d) on such Payment Date, the Servicer shall
instruct the Indenture Trustee on such Payment Date to withdraw from the
Principal Supplement Account on such Payment Date an amount equal to such
excess, to the extent of funds available therein, and deposit such amount
into the Note Distribution Account. In the event that the Class Principal
Distributable Amount for any Class of Notes for the applicable final
scheduled maturity date for such Class of Notes exceeds the remainder of
the Total Distribution Amount and the amounts available in the Spread
Account pursuant to Section 5.6(e) for that Payment Date after subtracting
the Class Principal Distributable Amount for each Class of Notes having
priority over such Class of Notes, the Servicer shall instruct the
Indenture Trustee on such Payment Date to withdraw from the Principal
Supplement Account on such Payment Date an amount equal to such excess, to
the extent of funds available therein, and deposit such amount into the
Note Distribution Account. Funds on deposit in the Principal Supplement
Account may be withdrawn and paid to the Seller on any day if each Rating
Agency has confirmed that such action will not result in a withdrawal or
downgrade of its rating of any Class of Notes.

         SECTION 5.10. Statements to Certificateholders and Noteholders.
(a) On each Determination Date the Servicer shall provide to the Indenture
Trustee (with a copy to the Rating Agencies), for the Indenture Trustee to
make available to each Noteholder of record, and to the Trustee, for the
Trustee to forward to each Certificateholder of record, a statement
substantially in the form of Exhibits A and B, respectively, setting forth
at least the following information as to each Class of the Notes and the
Certificates to the extent applicable:

                  (i) the amount of such distribution allocable to principal
         of each Class of Notes;

                  (ii) the amount of the distribution allocable to interest of
         each Class of Notes;

                  (iii) the amount of the distribution allocable to principal
         of the Certificates;

                  (iv) the amount of the distribution allocable to interest on
         the Certificates;

                  (v) the Pool Balance as of the close of business on the last
         day of the preceding Collection Period;

                  (vi) the aggregate Outstanding Amount and the Note Pool
         Factor for each Class of Notes, and the Certificate Balance and

                                     22

<PAGE>

         the Certificate Pool Factor as of such Payment Date, after
         giving effect to payments allocated to principal reported under
         clauses (i) and (iii) above;

                 (vii) the amount of the Servicing Fee paid to the Servicer
         with respect to the preceding Collection Period;

                 (viii) the amount of the Administration Fee paid to the
         Administrator in respect of the preceding Collection Period;

                  (ix) the amount of the aggregate Realized Losses, if any, for
         such Collection Period;

                  (x) the aggregate Purchase Amounts for Receivables, if any,
         that were repurchased or purchased in such Collection Period;

                  (xi) the balance of the Spread Account on such Payment
         Date, after giving effect to changes therein on such Payment Date;

                  (xii) for Payment Dates during the Funding Period, the
         remaining Pre-Funded Amount;

                  (xiii) for the final Payment Date with respect to the
         Funding Period, the amount of any remaining Pre-Funded Amount that
         has not been used to fund the purchase of Subsequent Receivables;

                  (xiv) the balance of the Principal Supplement Account on
         such Payment Date, after giving effect to changes therein on such
         Payment Date; and

                  (xv) the balance of the Negative Carry Account on such
         Payment Date, after giving effect to changes therein on such
         Payment Date.

Each amount set forth pursuant to clauses (i), (ii), (iii), (iv), (vii) and
(viii) shall be expressed as a dollar amount per $1,000 of original
principal balance of a Certificate or Note, as applicable.

         The Indenture Trustee will make the Statement to Noteholders
available each month to Noteholders and other parties to the Basic
Documents via the Indenture Trustee's internet website, which is presently
located at www.abs.bankone.com. Persons who are unable to use the above
website are entitled to have a paper copy mailed to them via first class
mail by calling the Indenture Trustee at (1-800) 524-9472. The Indenture
Trustee shall have the right to change the way the Statement to Noteholders
is distributed in order to make such distribution more convenient and/or
more accessible to the above parties and to the Noteholders. The Indenture

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<PAGE>

Trustee shall provide timely and adequate notification to all above parties
and to the Noteholders regarding any such change.

         SECTION 5.11. Net Deposits. As an administrative convenience,
unless the Servicer is required to remit collections daily, the Servicer
will be permitted to make the deposit of collections net of distributions,
if any, to be made to the Servicer with respect to the Collection Period.
The Servicer, however, will account to the Trustee, the Indenture Trustee,
the Noteholders and the Certificateholders as if all deposits,
distributions and transfers were made individually.

                                 ARTICLE VI
                                 The Seller

         SECTION 6.1. Representations of Seller. The Seller makes the
following representations on which the Issuer is deemed to have relied in
acquiring the Receivables. The representations speak as of the execution
and delivery of this Agreement and shall survive the sale of the
Receivables to the Issuer and the pledge thereof to the Indenture Trustee
pursuant to the Indenture.

                  (a) Organization and Good Standing. The Seller is duly
         organized and validly existing as a corporation in good standing
         under the laws of the State of Delaware, with the corporate power
         and authority to own its properties and to conduct its business as
         such properties are currently owned and such business is presently
         conducted, and had at all relevant times, and has, the corporate
         power, authority and legal right to acquire, own and sell the
         Receivables.

                  (b) Due Qualification. The Seller is duly qualified to do
         business as a foreign corporation in good standing, and has
         obtained all necessary licenses and approvals, in all
         jurisdictions in which the ownership or lease of property or the
         conduct of its business shall require such qualifications.

                  (c) Power and Authority. The Seller has the power and
         authority to execute and deliver this Agreement and to carry out
         its terms; the Seller has full power and authority to sell and
         assign the property to be sold and assigned to and deposited with
         the Issuer and has duly authorized such sale and assignment to the
         Issuer by all necessary corporate action; and the execution,
         delivery and performance of this Agreement have been, and the
         execution, delivery and performance of each Subsequent Transfer
         Assignment have been or will be on or before the related
         Subsequent Transfer Date, duly authorized by the Seller by all
         necessary corporate action.

                                     24

<PAGE>

                  (d) Binding Obligation. This Agreement constitutes, and
         each Subsequent Transfer Assignment when executed and delivered by
         the Seller will constitute, a legal, valid and binding obligation
         of the Seller enforceable in accordance with their terms.

                  (e) No Violation. The consummation of the transactions
         contemplated by this Agreement and the fulfillment of the terms
         hereof do not conflict with, result in any breach of any of the
         terms and provisions of, or constitute (with or without notice or
         lapse of time) a default under, the certificate of incorporation
         or by-laws of the Seller, or any indenture, agreement or other
         instrument to which the Seller is a party or by which it shall be
         bound; or result in the creation or imposition of any Lien upon
         any of its properties pursuant to the terms of any such indenture,
         agreement or other instrument (other than the Basic Documents); or
         violate any law or, to the best of the Seller's knowledge, any
         order, rule or regulation applicable to the Seller of any court or
         of any Federal or state regulatory body, administrative agency or
         other governmental instrumentality having jurisdiction over the
         Seller or its properties.

                  (f) No Proceedings. There are no proceedings or
         investigations pending or, to the Seller's best knowledge,
         threatened, before any court, regulatory body, administrative
         agency or other governmental instrumentality having jurisdiction
         over the Seller or its properties: (i) asserting the invalidity of
         this Agreement, the Indenture or any of the other Basic Documents,
         the Notes or the Certificates, (ii) seeking to prevent the
         issuance of the Notes or the Certificates or the consummation of
         any of the transactions contemplated by this Agreement, the
         Indenture or any of the other Basic Documents, (iii) seeking any
         determination or ruling that could reasonably be expected to
         materially and adversely affect the performance by the Seller of
         its obligations under, or the validity or enforceability of, this
         Agreement, the Indenture, any of the other Basic Documents, the
         Notes or the Certificates or (iv) that might adversely affect the
         Federal or state income tax attributes of the Notes or the
         Certificates.

         SECTION 6.2. Corporate Existence. (a) During the term of this
Agreement, the Seller will keep in full force and effect its existence,
rights and franchises as a corporation under the laws of the jurisdiction
of its incorporation and will obtain and preserve its qualification to do
business in each jurisdiction in which such qualification is or shall be
necessary to protect the validity and enforceability of this Agreement, the
Basic Documents and each other instrument or agreement necessary or
appropriate to the proper administration of this Agreement and the
transactions contemplated hereby.

                                     25

<PAGE>

         (b) During the term of this Agreement, the Seller shall observe
the applicable legal requirements for the recognition of the Seller as a
legal entity separate and apart from its Affiliates, including as follows:

                  (i) the Seller shall maintain corporate records and books of
         account separate from those of its Affiliates;

                  (ii) except as otherwise provided in this Agreement and
         similar arrangements relating to other securitizations, the Seller
         shall not commingle its assets and funds with those of its
         Affiliates;

                  (iii) the Seller shall hold such appropriate meetings or
         obtain such appropriate consents of its Board of Directors as are
         necessary to authorize all the Seller's corporate actions required
         by law to be authorized by the Board of Directors, shall keep
         minutes of such meetings and of meetings of its stockholder(s) and
         observe all other customary corporate formalities (and any
         successor Seller not a corporation shall observe similar
         procedures in accordance with its governing documents and
         applicable law);

                  (iv) the Seller shall at all times hold itself out to the
         public under the Seller's own name as a legal entity separate and
         distinct from its Affiliates; and

                  (v) all transactions and dealings between the Seller and its
         Affiliates will be conducted on an arm's-length basis.

         SECTION 6.3. Liability of Seller; Indemnities. The Seller shall be
liable in accordance herewith only to the extent of the obligations
specifically undertaken by the Seller under this Agreement.

                  (a) The Seller shall indemnify, defend and hold harmless
         the Issuer, the Trustee and the Indenture Trustee (and their
         officers, directors, employees and agents) from and against any
         taxes that may at any time be asserted against any of them with
         respect to the sale of the Receivables to the Issuer or the
         issuance and original sale of the Certificates and the Notes,
         including any sales, gross receipts, general corporation, tangible
         personal property, privilege or license taxes (but, in the case of
         the Issuer, not including any taxes asserted with respect to
         ownership of the Receivables or Federal or other income taxes
         arising out of the transactions contemplated by this Agreement)
         and costs and expenses in defending against the same.

                  (b) The Seller shall indemnify, defend and hold harmless
         the Issuer, the Trustee and the Indenture Trustee (and their
         officers, directors, employees and agents) from and against any

                                     26

<PAGE>

         loss, liability or expense incurred by reason of the Seller's
         willful misfeasance, bad faith or negligence in the performance
         of its duties under this Agreement, or by reason of reckless
         disregard of its obligations and duties under this Agreement.

         Indemnification under this Section shall survive the resignation
or removal of the Trustee or the Indenture Trustee or the termination of
this Agreement and the Indenture and shall include reasonable fees and
expenses of counsel and expenses of litigation. If the Seller shall have
made any indemnity payments pursuant to this Section and the Person to or
on behalf of whom such payments are made thereafter shall collect any of
such amounts from others, such Person shall promptly repay such amounts to
the Seller, without interest.

         SECTION 6.4. Merger or Consolidation of, or Assumption of the
Obligations of, Seller. Any Person: (a) into which the Seller may be merged
or consolidated, (b) that may result from any merger or consolidation to
which the Seller shall be a party or (c) that may succeed to the properties
and assets of the Seller substantially as a whole, which Person (in any of
the foregoing cases) executes an agreement of assumption to perform every
obligation of the Seller under this Agreement (or is deemed by law to have
assumed such obligations), shall be the successor to the Seller hereunder
without the execution or filing of any document or any further act by any
of the parties to this Agreement; provided, however, that: (i) immediately
after giving effect to such transaction, no representation or warranty made
pursuant to Section 3.1 shall have been breached and no Servicer Default,
and no event that, after notice or lapse of time, or both, would become a
Servicer Default shall have occurred and be continuing, (ii) the Seller
shall have delivered to the Trustee and the Indenture Trustee an Officers'
Certificate and an Opinion of Counsel each stating that such consolidation,
merger or succession and such agreement of assumption comply with this
Section and that all conditions precedent, if any, provided for in this
Agreement relating to such transaction have been complied with, (iii) the
Rating Agency Condition shall have been satisfied with respect to such
transaction and (iv) the Seller shall have delivered to the Trustee and the
Indenture Trustee an Opinion of Counsel either: (A) stating that, in the
opinion of such counsel, all financing statements, continuation statements
and amendments thereto have been executed and filed that are necessary
fully to preserve and protect the interest of the Trustee and Indenture
Trustee, respectively, in the Receivables and reciting the details of such
filings, or (B) stating that, in the opinion of such counsel, no such
action shall be necessary to preserve and protect such interests.
Notwithstanding anything herein to the contrary, the execution of the
foregoing agreement of assumption and compliance with clauses (i), (ii),
(iii) and (iv) shall be conditions to the consummation of the transactions
referred to in clauses (a), (b) or (c).

         SECTION 6.5. Limitation on Liability of Seller and Others. The Seller
and any director, officer, employee or agent of the Seller may rely in good
faith on the advice of counsel or on any document of any kind prima facie

                                     27

<PAGE>

properly executed and submitted by any Person respecting any matters
arising hereunder. The Seller shall not be under any obligation to appear
in, prosecute or defend any legal action that shall not be incidental to
its obligations under this Agreement, and that in its opinion may involve
it in any expense or liability.

         SECTION 6.6. Seller May Own Certificates or Notes. The Seller and
any Affiliate thereof may in its individual or any other capacity become
the owner or pledgee of Certificates or the Notes with the same rights as
it would have if it were not the Seller or an Affiliate thereof, except as
expressly provided herein or in any other Basic Document.

         Notwithstanding the foregoing, the Seller shall not sell the
Certificates except to an entity (a) that has provided an opinion of
counsel to the effect that such sale will not cause the Trust to be treated
as a "publicly traded partnership" under the Code and (b) that either (i)
is not an Affiliate of the Seller or (ii) is an Affiliate of the Seller
that (A) is a subsidiary of Case Credit or NH Credit, the Certificate of
Incorporation of which contains restrictions substantially similar to the
restrictions contained in the Certificate of Incorporation of the Seller
and (B) has provided an opinion of counsel regarding substantive
consolidation of such Affiliate with Case Credit or NH Credit in the event
of a bankruptcy filing by Case Credit or NH Credit, as applicable, which is
substantially similar to the opinion of counsel provided by Seller on the
Closing Date, and which may be subject to the same assumptions and
qualifications as that opinion.

                                ARTICLE VII
                                The Servicer

         SECTION 7.1. Representations of Servicer. The Servicer makes the
following representations on which the Issuer is deemed to have relied in
acquiring the Receivables. The representations speak as of the execution
and delivery of the Agreement and as of the Closing Date, in the case of
the Initial Receivables, and as of the applicable Subsequent Transfer Date,
in the case of the Subsequent Receivables, and shall survive the sale of
the Receivables to the Issuer and the pledge thereof to the Indenture
Trustee pursuant to the Indenture.

                  (a) Organization and Good Standing. The Servicer is duly
         organized and validly existing as a corporation in good standing
         under the laws of the state of its incorporation, with the
         corporate power and authority to own its properties and to conduct
         its business as such properties are currently owned and such
         business is presently conducted, and had at all relevant times,
         and has, the power, authority and legal right to acquire, own,
         sell and service the Receivables and to hold the Receivable Files
         as custodian.

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<PAGE>

                  (b) Due Qualification. The Servicer is duly qualified to
         do business as a foreign corporation in good standing, and has
         obtained all necessary licenses and approvals, in all
         jurisdictions in which the ownership or lease of property or the
         conduct of its business (including the servicing of the
         Receivables as required by this Agreement) shall require such
         qualifications.

                  (c) Power and Authority. The Servicer has the corporate
         power and authority to execute and deliver this Agreement and to
         carry out its terms; and the execution, delivery and performance
         of this Agreement have been duly authorized by the Servicer by all
         necessary corporate action.

                  (d)  Binding Obligation. This Agreement constitutes a legal,
         valid and binding obligation of the Servicer enforceable against the
         Servicer in accordance with its terms.

                  (e) No Violation. The consummation of the transactions
         contemplated by this Agreement and the fulfillment of the terms
         hereof shall not conflict with, result in any breach of any of the
         terms and provisions of, or constitute (with or without notice or
         lapse of time) a default under, the articles of incorporation or
         by-laws of the Servicer, or any indenture, agreement or other
         instrument to which the Servicer is a party or by which it shall
         be bound; or result in the creation or imposition of any Lien upon
         any of its properties pursuant to the terms of any such indenture,
         agreement or other instrument (other than this Agreement); or
         violate any law or, to the best of the Servicer's knowledge, any
         order, rule or regulation applicable to the Servicer of any court
         or of any Federal or state regulatory body, administrative agency
         or other governmental instrumentality having jurisdiction over the
         Servicer or its properties.

                  (f) No Proceedings. There are no proceedings or
         investigations pending, or, to the Servicer's best knowledge,
         threatened, before any court, regulatory body, administrative
         agency or other governmental instrumentality having jurisdiction
         over the Servicer or its properties: (i) asserting the invalidity
         of this Agreement, the Indenture, any of the other Basic
         Documents, the Notes or the Certificates, (ii) seeking to prevent
         the issuance of the Notes or the Certificates or the consummation
         of any of the transactions contemplated by this Agreement, the
         Indenture or any of the other Basic Documents, (iii) seeking any
         determination or ruling that could reasonably be expected to
         materially and adversely affect the performance by the Servicer of
         its obligations under, or the validity or enforceability of, this
         Agreement, the Indenture, any of the other Basic Documents, the
         Notes or the Certificates or (iv) relating to the Servicer and
         that might adversely affect the Federal or state income tax
         attributes of the Notes or the Certificates.

                                     29

<PAGE>

                  (g)  No Insolvent Obligors. As of the Initial Cutoff Date or,
         in the case of the Subsequent Receivables, as of the related
         Subsequent Cutoff Date, no Obligor is shown on the Receivable Files
         as the subject of a bankruptcy proceeding.

         SECTION 7.2. Indemnities of Servicer. The Servicer shall be liable
in accordance herewith only to the extent of the obligations specifically
undertaken by the Servicer under this Agreement.

                  (a) The Servicer shall defend, indemnify and hold
         harmless the Issuer, the Trustee, the Indenture Trustee, the
         Noteholders, the Certificateholders and the Seller (and any of
         their officers, directors, employees and agents) from and against
         any and all costs, expenses, losses, damages, claims and
         liabilities, arising out of or resulting from:

                           (i) the use, ownership or operation by the Servicer
                  or any Affiliate thereof of any of the Financed Equipment;

                           (ii) any taxes that may at any time be asserted
                  against any such Person with respect to the transactions
                  contemplated herein, including any sales, gross receipts,
                  general corporation, tangible personal property,
                  privilege or license taxes (but, in the case of the
                  Issuer, not including any taxes asserted with respect to,
                  and as of the date of, the sale of the Receivables to the
                  Issuer or the issuance and original sale of the
                  Certificates, the Notes, or asserted with respect to
                  ownership of the Receivables, or Federal or other income
                  taxes arising out of distributions on the Certificates or
                  the Notes) and costs and expenses in defending against
                  the same;

                           (iii) the negligence, willful misfeasance or bad
                  faith of the Servicer in the performance of its duties
                  under this Agreement or by reason of reckless disregard
                  of its obligations and duties under this Agreement; and

                           (iv) the Seller's or the Issuer's violation of
                  Federal or State securities laws in connection with the
                  offering or sale of the Notes.

                  (b) The Servicer shall indemnify, defend and hold
         harmless the Trustee and the Indenture Trustee (and their
         respective officers, directors, employees and agents) from and
         against all costs, expenses, losses, claims, damages and
         liabilities arising out of or incurred in connection with the
         acceptance or performance of the trusts and duties herein and, in
         the case of the Trustee, in the Trust Agreement contained, and, in

                                     30

<PAGE>

         the case of the Indenture Trustee, in the Indenture contained,
         except to the extent that such cost, expense, loss, claim, damage
         or liability:

                           (i) shall be due to the willful misfeasance, bad
                  faith or negligence (except for errors in judgment) of the
                  Trustee or the Indenture Trustee as applicable; or

                           (ii) shall arise from the breach by the Trustee
                  of any of its representations or warranties set forth in
                  Section 7.3 of the Trust Agreement.

                  (c) The Servicer shall pay any and all taxes levied or
         assessed upon all or any part of the Trust Estate.

                  (d) The Servicer shall pay the Indenture Trustee and the
         Trustee from time to time reasonable compensation for all services
         rendered by the Indenture Trustee under the Indenture or by the
         Trustee under the Trust Agreement (which compensation shall not be
         limited by any provision of law in regard to the compensation of a
         trustee of an express trust).

                  (e) The Servicer shall, except as otherwise expressly
         provided in the Indenture or the Trust Agreement, reimburse either
         the Indenture Trustee or the Trustee, respectively, upon its
         request for all reasonable expenses, disbursements and advances
         incurred or made in accordance with the Indenture or the Trust
         Agreement, respectively, (including the reasonable compensation,
         expenses and disbursements of its agents and either in-house
         counsel or outside counsel, but not both), except any such
         expense, disbursement or advance as may be attributable to the
         Indenture Trustee's or the Trustee's, respectively negligence, bad
         faith or willful misfeasance.

         For purposes of this Section, in the event of the termination of
the rights and obligations of the Servicer pursuant to Section 8.1, or a
resignation by the Servicer pursuant to this Agreement, the Servicer shall
be deemed to be the Servicer pending appointment of a successor Servicer
pursuant to Section 8.2.

         Indemnification under this Section shall survive the resignation
or removal of the Trustee or the Indenture Trustee or the termination of
this Agreement, the Trust Agreement and the Indenture and shall include
reasonable fees and expenses of counsel and expenses of litigation. If the
Servicer shall have made any indemnity payments pursuant to this Section
and the Person to or on behalf of whom such payments are made thereafter
collects any of such amounts from others, such Person shall promptly repay
such amounts to the Servicer, without interest.

                                     31

<PAGE>

         SECTION 7.3. Merger or Consolidation of, or Assumption of the
Obligations of, Servicer. Any Person: (a) into which the Servicer may be
merged or consolidated, (b) that may result from any merger or
consolidation to which the Servicer shall be a party, or (c) that may
succeed to the properties and assets of the Servicer substantially as a
whole, which Person (in any of the foregoing circumstances) executes an
agreement of assumption to perform every obligation of the Servicer
hereunder (or is deemed by law to have assumed such obligations), shall be
the successor to the Servicer under this Agreement without further act on
the part of any of the parties to this Agreement; provided, however, that:
(i) immediately after giving effect to such transaction, no Servicer
Default, and no event that, after notice or lapse of time, or both, would
become a Servicer Default shall have occurred and be continuing, (ii) the
Servicer shall have delivered to the Trustee and Indenture Trustee an
Officers' Certificate and an Opinion of Counsel each stating that such
consolidation, merger or succession and such agreement of assumption comply
with this Section and that all conditions precedent, if any, provided for
in this Agreement relating to such transaction have been complied with,
(iii) the Rating Agencies shall have received at least ten days' prior
written notice of such transaction and (iv) the Servicer shall have
delivered to the Trustee and the Indenture Trustee an Opinion of Counsel
either: (A) stating that, in the opinion of such counsel, all financing
statements, continuation statements and amendments thereto have been
executed and filed that are necessary fully to preserve and protect the
interest of the Trustee and the Indenture Trustee, respectively, in the
Receivables and reciting the details of such filings, or (B) stating that,
in the opinion of such counsel, no such action shall be necessary to
preserve and protect such interests. Notwithstanding anything herein to the
contrary, the execution of the foregoing agreement of assumption and
compliance with clauses (i), (ii), (iii) and (iv) shall be conditions to
the consummation of the transactions referred to in clauses (a), (b) or
(c).

         SECTION 7.4. Limitation on Liability of Servicer and Others.
Neither the Servicer nor any of the directors, officers, employees or
agents of the Servicer shall be under any liability to the Issuer, the
Noteholders or the Certificateholders, except as provided under this
Agreement, for any action taken or for refraining from the taking of any
action pursuant to this Agreement or for errors in judgment; provided,
however, that this provision shall not protect the Servicer or any such
Person against any liability that would otherwise be imposed by reason of
willful misfeasance, bad faith or negligence in the performance of its
duties or by reason of reckless disregard of obligations and duties under
this Agreement. The Servicer and any director, officer, employee or agent
of the Servicer may rely in good faith on the advice of counsel or on any
document of any kind prima facie properly executed and submitted by any
Person respecting any matters arising hereunder.

         Except as provided in this Agreement, the Servicer shall not be
under any obligation to appear in, prosecute or defend any legal action
that shall not be incidental to its duties to service the Receivables in

                                     32

<PAGE>

accordance with this Agreement, and that in its opinion may involve it in
any expense or liability; provided, however, that the Servicer may
undertake any reasonable action that it may deem necessary or desirable in
respect of this Agreement, the Basic Documents and the rights and duties of
the parties to this Agreement, the other Basic Documents and the interests
of the Certificateholders under this Agreement and the Noteholders under
the Indenture.

         SECTION 7.5. Case Credit Not to Resign as Servicer. Subject to
Section 7.3, Case Credit shall not resign from the obligations and duties
imposed on it as Servicer under this Agreement except upon determination
that the performance of its duties under this Agreement shall no longer be
permissible under applicable law and such impermissibility cannot be
reasonably and promptly cured. Notice of any such determination shall be
communicated to the Trustee and the Indenture Trustee at the earliest
practicable time (and, if such communication is not in writing, shall be
confirmed in writing at the earliest practicable time) and any such
determination shall be evidenced by an Opinion of Counsel to such effect
delivered to the Trustee and the Indenture Trustee concurrently with or
promptly after such notice. No such resignation shall become effective
until the Indenture Trustee or a successor Servicer shall have assumed the
responsibilities and obligations of Case Credit in accordance with Section
8.2.

         SECTION 7.6. Servicer to Act as Administrator. In the event of the
resignation or removal of the Administrator and the failure of a successor
Administrator to have been appointed and to have accepted such appointment
as successor Administrator, the Servicer shall become the successor
Administrator and shall be bound by the terms of the Administration
Agreement.

                                ARTICLE VIII
                                  Default

         SECTION 8.1.  Servicer Default. If any one of the following events (a
"Servicer Default") shall occur and be continuing:

                  (a) any failure by the Servicer to deliver to the
         Indenture Trustee for deposit in any of the Trust Accounts or the
         Certificate Distribution Account any required payment or to direct
         the Indenture Trustee or the Trustee to make any required
         distributions therefrom, which failure continues unremedied for
         three Business Days after written notice of such failure is
         received by the Servicer from the Trustee or the Indenture Trustee
         or after discovery of such failure by an officer of the Servicer;

                  (b) any failure by the Servicer or the Seller, as the case
         may be, duly to observe or to perform in any material respect any

                                     33

<PAGE>

         other covenants or agreements (other than as set forth in
         clause (a)) of the Servicer or the Seller (as the case may be)
         set forth in this Agreement or any other Basic Document, which
         failure shall: (i) materially and adversely affect the rights of
         Certificateholders or Noteholders and (ii) continue unremedied for
         a period of 60 days after the date on which written notice of
         such failure, requiring the same to be remedied, shall have been
         given: (A) to the Servicer or the Seller (as the case may be) by
         the Trustee or the Indenture Trustee or (B) to the Servicer or the
         Seller (as the case may be) and to the Trustee and the Indenture
         Trustee, by the Noteholders or Certificateholders, as applicable,
         evidencing not less than 25% of the Outstanding Amount of the Notes
         or 25% of the Certificate Balance; or

                  (c) an Insolvency Event occurs with respect to the Seller or
         the Servicer;

then, and in each and every case, so long as the Servicer Default shall not
have been remedied, either the Indenture Trustee, or the Holders of Notes
evidencing not less than 25% of the Outstanding Amount of the Notes, by
notice then given in writing to the Servicer (and to the Indenture Trustee
and the Trustee if given by the Noteholders), may terminate all the rights
and obligations (other than the obligations set forth in Section 7.2) of
the Servicer under this Agreement. On or after the receipt by the Servicer
of such written notice, all authority and power of the Servicer under this
Agreement, whether with respect to the Notes, the Certificates, the
Receivables or otherwise, shall, without further action, pass to and be
vested in the Indenture Trustee or such successor Servicer as may be
appointed under Section 8.2; and, without limitation, the Indenture Trustee
and the Trustee are hereby authorized and empowered to execute and deliver,
on behalf of the predecessor Servicer, as attorney-in-fact or otherwise,
any and all documents and other instruments, and to do or accomplish all
other acts or things necessary or appropriate to effect the purposes of
such notice of termination, whether to complete the transfer and
endorsement of the Receivables and related documents, or otherwise. The
predecessor Servicer shall cooperate with the successor Servicer, the
Indenture Trustee and the Trustee in effecting the termination of the
responsibilities and rights of the predecessor Servicer under this
Agreement, including the transfer to the successor Servicer for
administration by it of: (i) all cash amounts that shall at the time be
held by the predecessor Servicer for deposit, or shall thereafter be
received by it with respect to a Receivable and (ii) all Receivable Files.
All reasonable costs and expenses (including attorneys' fees) incurred in
connection with such transfer, including the costs of transferring the
Receivable Files to the successor Servicer and amending this Agreement to
reflect its succession as Servicer, shall be paid by the predecessor
Servicer upon presentation of reasonable documentation of such costs and
expenses. Upon receipt of notice of the occurrence of a Servicer Default,
the Trustee shall give notice thereof to the Rating Agencies.

                                     34

<PAGE>

         SECTION 8.2. Appointment of Successor Servicer. (a) Upon the
Servicer's receipt of notice of termination, pursuant to Section 8.1, or
the Servicer's resignation in accordance with this Agreement, the
predecessor Servicer shall continue to perform its functions as Servicer
under this Agreement, in the case of termination, only until the date
specified in such termination notice or, if no such date is specified in a
notice of termination, until receipt of such notice and, in the case of
resignation, until the earlier of: (x) the date 45 days from the delivery
to the Trustee and the Indenture Trustee of written notice of such
resignation (or written confirmation of such notice) in accordance with
this Agreement and (y) the date upon which the predecessor Servicer shall
become unable to act as Servicer, as specified in the notice of resignation
and accompanying Opinion of Counsel. In the event of the Servicer's
termination hereunder, the Issuer shall appoint a successor Servicer
acceptable to the Indenture Trustee, and the successor Servicer shall
accept its appointment by a written assumption in form acceptable to the
Indenture Trustee. In the event that a successor Servicer has not been
appointed at the time when the predecessor Servicer has ceased to act as
Servicer in accordance with this Section, the Indenture Trustee without
further action shall automatically be appointed the successor Servicer and
shall be entitled to the Servicing Fee. Notwithstanding the above, the
Indenture Trustee shall, if it shall be unable so to act, appoint or
petition a court of competent jurisdiction to appoint any established
institution, having a net worth of not less than $50,000,000 and whose
regular business shall include the servicing of receivables, as the
successor to the Servicer under this Agreement.

         (b) Upon appointment, the successor Servicer (including the
Indenture Trustee acting as successor Servicer) shall be the successor in
all respects to the predecessor Servicer (except with respect to
responsibilities and obligations of the predecessor Servicer set forth in
Section 7.2) and shall be subject to all the responsibilities, duties and
liabilities arising thereafter relating thereto placed on the predecessor
Servicer and shall be entitled to the Servicing Fee and all the rights
granted to the predecessor Servicer by this Agreement. Neither the
Indenture Trustee nor any other successor Servicer shall be deemed to be in
default hereunder due to any act or omission of a predecessor Servicer,
including but not limited to failure of such predecessor Servicer to timely
deliver to the Indenture Trustee any required information pertaining to the
Receivables, any funds required to be deposited with the Indenture Trustee,
or any breach of duty of such predecessor Servicer to cooperate with a
transfer of servicing as required hereunder. Any successor Servicer shall
from time to time provide to Case Credit such information as Case Credit
shall request with respect to the Receivables and collections thereon.

         (c) Subject to the last sentence of clause (a), the Servicer may
not resign unless it is prohibited from serving as such by law as evidenced
by an Opinion of Counsel to such effect delivered to the Indenture Trustee
and the Trustee.

                                     35

<PAGE>

         SECTION 8.3. Notification to Noteholders and Certificateholders.
Upon any termination of, or appointment of a successor to, the Servicer
pursuant to this Article VIII, the Trustee shall give prompt written notice
thereof to the Certificateholders and the Indenture Trustee shall give
prompt written notice thereof to the Noteholders and the Rating Agencies.

         SECTION 8.4. Waiver of Past Defaults. The Noteholders of Notes
evidencing not less than a majority of the Note Balance (or the Holders of
Certificates evidencing not less than a majority of the Certificate
Balance, in the case of any default that does not adversely affect the
Indenture Trustee or the Noteholders) may, on behalf of all the Noteholders
and Certificateholders, waive in writing any default by the Servicer in the
performance of its obligations hereunder and its consequences, except a
default in making any required deposits to or payments from any of the
Trust Accounts in accordance with this Agreement. Upon any such waiver of a
past default, such default shall cease to exist, and any Servicer Default
arising therefrom shall be deemed to have been remedied for every purpose
of this Agreement. No such waiver shall extend to any subsequent or other
default or impair any right consequent thereto.

                                 ARTICLE IX
                                Termination

         SECTION 9.1. Optional Purchase of All Receivables. (a) As of the
first day of any Collection Period immediately preceding a Payment Date as
of which the Pool Balance is 10% or less of the Initial Pool Balance, the
Servicer shall have the option to purchase all of the Trust Estate, other
than the Trust Accounts. To exercise such option, the Servicer shall
deposit, pursuant to Section 5.4, in the Collection Account an amount equal
to the aggregate Purchase Amount for the Receivables plus the appraised
value of any such other property held by the Trust, such value to be
determined by an appraiser mutually agreed upon by the Servicer, the
Trustee and the Indenture Trustee, and shall succeed to all interests in,
to and under the Trust Estate, other than the Trust Accounts.

         (b) Upon any sale of the assets of the Trust, the Servicer shall
instruct the Indenture Trustee to deposit the proceeds from such sale after
all payments and reserves therefrom have been made (the "Sale Proceeds") in
the Collection Account. On the Payment Date on, or, if such proceeds are
not so deposited on a Payment Date, on the first Payment Date following the
date on which the Sale Proceeds are deposited in the Collection Account,
the Servicer shall instruct the Indenture Trustee to make the following
deposits (after the application on such Payment Date of the Total
Distribution Amount and funds on deposit in the Spread Account pursuant to
Sections 5.5 and 5.6) from the Sale Proceeds and any funds remaining on

                                               36

<PAGE>

deposit in the Spread Account (including the proceeds of any sale of
investments therein as described in the following sentence):

                  (i) first, to the Note Distribution Account, any portion
         of the Class A Noteholders' Class Interest Amount and the
         Outstanding Amount of the Class A Notes (after giving effect to
         the reduction resulting from the deposits made in the Note
         Distribution Account on such Payment Date and on prior Payment
         Dates) not otherwise deposited into the Note Distribution Account
         on such Payment Date;

                  (ii) second, to the Note Distribution Account, any
         portion of the Class B Noteholders' Class Interest Amount and the
         Outstanding Amount of the Class B Notes (after giving effect to
         the reduction resulting from the deposits made in the Note
         Distribution Account on such Payment Date and on prior Payment
         Dates) not otherwise deposited into the Note Distribution Account
         on such Payment Date;

                  (iii) third, to the Certificate Distribution Account, any
         portion of the Certificateholders' Interest Distributable Amount
         not otherwise deposited into the Certificate Distribution Account
         on such Payment Date; and

                  (iv) fourth, to the Certificate Distribution Account, the
         Certificate Balance (after giving effect to the reduction
         resulting from the deposits made in the Certificate Distribution
         Account on such Payment Date).

Any investments on deposit in the Spread Account that will not mature on or
before such Payment Date shall be sold by the Indenture Trustee at such
time as will result in the Indenture Trustee receiving the proceeds from
such sale not later than the Transfer Date preceding such Payment Date. Any
Sale Proceeds remaining after the deposits described above shall be paid to
the Seller.

         (c) As described in Article IX of the Trust Agreement, notice of
any termination of the Trust shall be given by the Servicer to the Trustee
and the Indenture Trustee as soon as practicable after the Servicer has
received notice thereof.

         (d) Following the satisfaction and discharge of the Indenture and
the payment in full of the principal of and interest on the Notes, the
Certificateholders will succeed to the rights of the Noteholders hereunder
and the Trustee will succeed to the rights of, and assume the obligations
of, the Indenture Trustee pursuant to this Agreement.

                                     37

<PAGE>

                                 ARTICLE X
                          Miscellaneous Provisions

         SECTION 10.1. Amendment. The Agreement may be amended from time to
time by a written amendment duly executed and delivered by the Seller, the
Servicer and the Issuer, with the written consent of the Indenture Trustee,
but without the consent of any of the Noteholders or the
Certificateholders, to cure any ambiguity, to correct or supplement any
provisions in this Agreement or for the purpose of adding any provisions to
or changing in any manner or eliminating any of the provisions in this
Agreement or of modifying in any manner the rights of the Noteholders or
the Certificateholders; provided, however, that such action shall not, as
evidenced by an Opinion of Counsel delivered to the Trustee and the
Indenture Trustee, adversely affect in any material respect the interests
of any Noteholder or Certificateholder.

         The Specified Spread Account Balance may be reduced or the
definition thereof otherwise modified without the consent of any of the
Noteholders or the Certificateholders if the Rating Agency Condition is
satisfied.

         This Agreement may also be amended from time to time by the
Seller, the Servicer and the Issuer, with the written consent of the
Indenture Trustee, but without the consent of any of the Noteholders or the
Certificateholders, to: (x) replace the Spread Account with another form of
credit enhancement as long as such substitution will not result in a
reduction or withdrawal of the rating of any Class of the Notes or the
Certificates or (y) add credit enhancement for the benefit of any Class of
the Notes or the Certificates.

         This Agreement may also be amended from time to time by the
Seller, the Servicer and the Issuer, with the written consent of (a) the
Indenture Trustee, (b) Noteholders holding Notes evidencing not less than a
majority of the Note Balance, and (c) the Holders of Certificates
evidencing not less than a majority of the Certificate Balance, for the
purpose of adding any provisions to or changing in any manner or
eliminating any of the provisions of this Agreement or of modifying in any
manner the rights of the Noteholders or the Certificateholders; provided,
however, that no such amendment shall: (a) increase or reduce in any manner
the amount of, or accelerate or delay the timing of, collections of
payments on Receivables or distributions that shall be required to be made
for the benefit of the Noteholders or the Certificateholders or (b) reduce
the aforesaid percentage of the Notes and the Certificates that are
required to consent to any such amendment, without the consent of the
holders of all the outstanding Notes and Certificates.

         Promptly after the execution of any such amendment or consent (or,
in the case of the Rating Agencies, 10 days prior thereto), the Trustee
shall furnish written notification of the substance of such amendment or
consent to each Certificateholder, the Indenture Trustee and each of the
Rating Agencies.

                                     38

<PAGE>

         It shall not be necessary for the consent of Certificateholders or
the Noteholders pursuant to this Section to approve the particular form of
any proposed amendment or consent, but it shall be sufficient if such
consent shall approve the substance thereof.

         Prior to the execution of any amendment to this Agreement, the
Trustee and the Indenture Trustee shall be entitled to receive and rely
upon: (i) an Opinion of Counsel stating that the execution of such
amendment is authorized or permitted by this Agreement and the other Basic
Documents and that all conditions precedent to such execution and delivery
by the Trustee and the Indenture Trustee have been satisfied and (ii) the
Opinion of Counsel referred to in Section 10.2(i)(1). The Trustee and the
Indenture Trustee may, but shall not be obligated to, enter into any such
amendment that affects the Trustee's or the Indenture Trustee's, as
applicable, own rights, duties or immunities under this Agreement or
otherwise.

         SECTION 10.2. Protection of Title to Trust. (a) The Seller shall
execute and file such financing statements, and cause to be executed and
filed such continuation statements, all in such manner and in such places
as may be required by applicable law fully to preserve, maintain and
protect the right, title and interest of the Issuer and the interests of
the Indenture Trustee in the Receivables, the other property sold hereunder
and in the proceeds thereof. The Seller shall deliver (or cause to be
delivered) to the Trustee and the Indenture Trustee file-stamped copies of,
or filing receipts for, any document filed as provided above as soon as
available following such filing. It is understood and agreed, however, that
no filings will be made to perfect any security interest of the Issuer or
the Indenture Trustee in the Seller's interests in True Lease Equipment.
The Issuer and the Indenture Trustee shall cooperate fully with the Seller
in connection with the obligations set forth above and will execute any and
all documents reasonably required to fulfill the intent of this paragraph.

         (b) Neither the Seller nor the Servicer shall change its name,
identity or corporate structure in any manner that would, could or might
make any financing statement or continuation statement filed in accordance
with paragraph (a) seriously misleading within the applicable provisions of
the UCC, unless it shall have given the Trustee and the Indenture Trustee
at least five days' prior written notice thereof and shall have promptly
filed appropriate amendments to all previously filed financing statements
or continuation statements.

         (c) Each of the Seller and the Servicer shall have an obligation
to give the Trustee and the Indenture Trustee at least 60 days' prior
written notice of any relocation of its principal executive office if, as a

                                     39

<PAGE>

result of such relocation, the applicable provisions of the UCC would
require the filing of any amendment of any previously filed financing or
continuation statement or of any new financing statement and shall promptly
file any such amendment. The Servicer shall at all times maintain each
office from which it shall service Receivables, and its principal executive
office, within the United States of America.

         (d) The Servicer shall maintain accounts and records as to each
Receivable accurately and in sufficient detail to permit: (i) the reader
thereof to know at any time the status of such Receivable, including
payments and recoveries made and payments owing (and the nature of each)
and (ii) reconciliation between payments or recoveries on (or with respect
to) each Receivable and the amounts from time to time deposited in the
Collection Account in respect of such Receivable.

         (e) The Servicer shall maintain its computer systems so that, from
and after the time of sale under this Agreement of the Receivables, the
Servicer's master computer records (including any backup archives) that
refer to a Receivable shall indicate clearly the interest of the Issuer and
the Indenture Trustee in such Receivable and that such Receivable is owned
by the Issuer and has been pledged to Bank One, as Indenture Trustee.
Indication of the Issuer's and the Indenture Trustee's interest in a
Receivable may be deleted from or modified on the Servicer's computer
systems when, and only when, the related Receivable shall have been paid in
full or repurchased.

         (f) If at any time the Seller or the Servicer shall propose to
sell, grant a security interest in, or otherwise transfer any interest in
equipment receivables to any prospective purchaser, lender or other
transferee, the Servicer shall give to such prospective purchaser, lender
or other transferee computer tapes, records or printouts (including any
restored from backup archives) that, if they shall refer in any manner
whatsoever to any Receivable, shall indicate clearly that such Receivable
has been sold and is owned by the Issuer and has been pledged to the
Indenture Trustee.

         (g) The Servicer shall permit the Indenture Trustee and its agents
at any time during normal business hours to inspect, audit and make copies
of and abstracts from the Servicer's records regarding any Receivable.

         (h) Upon request, the Servicer shall furnish to the Trustee or to
the Indenture Trustee, within five Business Days, a list of all Receivables
(by contract number and name of Obligor) then held as part of the Trust,
together with a reconciliation of such list to the Schedule of Receivables
and to each of the Servicer's Certificates furnished before such request
indicating removal of Receivables from the Trust.

         (i) The Servicer shall deliver to the Trustee and the Indenture
Trustee:

                                     40

<PAGE>

                  (1) promptly after the execution and delivery of this
         Agreement and of each amendment hereto, an Opinion of Counsel
         either: (A) stating that, in the opinion of such counsel, all
         financing statements and continuation statements have been
         executed and filed that are necessary fully to preserve and
         protect the interest of the Trustee and the Indenture Trustee in
         the Receivables, and reciting the details of such filings or
         referring to prior Opinions of Counsel in which such details are
         given, or (B) stating that, in the opinion of such counsel, no
         such action shall be necessary to preserve and protect such
         interest; and

                  (2) within 90 days after the beginning of each calendar
         year beginning with the first calendar year beginning more than
         three months after the Initial Cutoff Date, an Opinion of Counsel,
         dated as of a date during such 90-day period, either: (A) stating
         that, in the opinion of such counsel, all financing statements and
         continuation statements have been executed and filed that are
         necessary fully to preserve and protect the interest of the
         Trustee and the Indenture Trustee in the Receivables, and reciting
         the details of such filings or referring to prior Opinions of
         Counsel in which such details are given, or (B) stating that, in
         the opinion of such counsel, no such action shall be necessary to
         preserve and protect such interest.

         Each Opinion of Counsel referred to in clause (1) or (2) shall
specify any action necessary (as of the date of such opinion) to be taken
in the following year to preserve and protect such interest.

         (j) The Seller shall, to the extent required by applicable law,
cause the Certificates and the Notes to be registered with the Commission
pursuant to Section 12(b) or Section 12(g) of the Exchange Act within the
time periods specified in such sections.

         SECTION 10.3. Notices. All demands, notices, directions,
instructions and communications upon or to the Seller, the Servicer, the
Issuer, the Trustee, the Indenture Trustee or the Rating Agencies under
this Agreement shall be in writing, personally delivered or mailed by
certified mail, return receipt requested, and shall be deemed to have been
duly given upon receipt: (a) in the case of the Seller, to CNH Capital
Receivables Inc., 100 South Saunders Road, Lake Forest, Illinois 60045,
Attention of: Treasurer (telephone (847) 735-9200 and facsimile (847)
955-4943, (b) in the case of the Servicer, to Case Credit Corporation,
233 Lake Avenue, Racine, Wisconsin 53403, Attention: Treasurer (telephone
(414) 636-6011 and facsimile (414) 636-6284), (c) in the case of the Issuer
or the Trustee, at its Corporate Trust Office, (d) in the case of the
Indenture Trustee, at its Corporate Trust Office, (e) in the case of
Moody's, to Moody's Investors Service, Inc., ABS Monitoring Department, 99
Church Street, New York, New York 10007, and (f) in the case of Standard &
Poor's, to Standard & Poor's Ratings Services, a division of McGraw-Hill

                                     41

<PAGE>

Companies, Inc., 55 Water Street, New York, New York 10041, Attention
of Asset Backed Surveillance Department; or, as to each of the foregoing,
at such other address as shall be designated by written notice to the other
parties.

         SECTION 10.4. Assignment. Notwithstanding anything to the contrary
contained herein, except as provided in Sections 6.4 and 7.3 and as
provided in the provisions of this Agreement concerning the resignation of
the Servicer, this Agreement may not be assigned by the Seller or the
Servicer.

         SECTION 10.5. Limitations on Rights of Others. The provisions of
this Agreement are solely for the benefit of the Seller, the Servicer, the
Issuer, the Trustee, the Certificateholders, the Indenture Trustee and the
Noteholders, and nothing in this Agreement, whether express or implied,
shall be construed to give to any other Person any legal or equitable
right, remedy or claim in the Trust Estate or under or in respect of this
Agreement or any covenants, conditions or provisions contained herein.

         SECTION 10.6. Severability. Any provision of this Agreement that
is prohibited or unenforceable in any jurisdiction shall, as to such
jurisdiction, be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions hereof, and
any such prohibition or unenforceability in any jurisdiction shall not
invalidate or render unenforceable such provision in any other
jurisdiction.

         SECTION 10.7. Separate Counterparts. This Agreement may be
executed by the parties hereto in separate counterparts, each of which when
so executed and delivered shall be an original, but all such counterparts
shall together constitute but one and the same instrument.

         SECTION 10.8.  Headings. The headings of the various Articles and
Sections herein are for convenience of reference only and shall not define or
limit any of the terms or provisions hereof.

         SECTION 10.9. Governing Law. This Agreement shall be construed in
accordance with the laws of the State of New York, without reference to its
conflict of law provisions, and the obligations, rights and remedies of the
parties hereunder shall be determined in accordance with such laws.

         SECTION 10.10. Assignment to Indenture Trustee. The Seller hereby
acknowledges and consents to any mortgage, pledge, assignment and grant of
a security interest by the Issuer to the Indenture Trustee pursuant to the
Indenture for the benefit of the Noteholders of all right, title and
interest of the Issuer in, to and under the Receivables and/or the
assignment of any or all of the Issuer's rights and obligations hereunder
to the Indenture Trustee, and agrees that enforcement of a right

                                     42

<PAGE>

or remedy hereunder by the Indenture Trustee shall have the same force and
effect as if the right or remedy had been enforced or executed by the
Issuer.

         SECTION 10.11. Nonpetition Covenants. (a) Notwithstanding any
prior termination of this Agreement, the Servicer and the Seller shall not,
prior to the date that is one year and one day after the termination of
this Agreement, with respect to the Issuer, acquiesce, petition or
otherwise invoke or cause the Issuer to invoke the process of any court or
governmental authority for the purpose of commencing or sustaining a case
against the Issuer under any Federal or state bankruptcy, insolvency or
similar law or appointing a receiver, liquidator, assignee, trustee,
custodian, sequestrator or other similar official of the Issuer or any
substantial part of its property, or ordering the winding up or liquidation
of the affairs of the Issuer. The foregoing shall not limit the right of
the Servicer and the Seller to file any claim in or otherwise take any
action with respect to any such insolvency proceeding that was instituted
against the Issuer by any Person other than the Servicer or the Seller.

         (b) Notwithstanding any prior termination of this Agreement, the
Servicer shall not, prior to the date that is one year and one day after
the termination of this Agreement, with respect to the Seller, acquiesce,
petition or otherwise invoke or cause the Seller to invoke the process of
any court or governmental authority for the purpose of commencing or
sustaining a case against the Seller under any Federal or state bankruptcy,
insolvency or similar law or appointing a receiver, liquidator, assignee,
trustee, custodian, sequestrator or other similar official of the Seller or
any substantial part of its property, or ordering the winding up or
liquidation of the affairs of the Seller. The foregoing shall not limit the
right of the Servicer to file any claim in or otherwise take any action
with respect to any such insolvency proceeding that was instituted against
the Seller by any Person other than the Servicer.

         SECTION 10.12. Limitation of Liability of Trustee and Indenture
Trustee. (a) Notwithstanding anything contained herein to the contrary,
this Agreement has been countersigned by The Bank of New York, not in its
individual capacity but solely in its capacity as Trustee of the Issuer,
and in no event shall The Bank of New York, in its individual capacity or,
except as expressly provided in the Trust Agreement, any beneficial owner
of the Issuer have any liability for the representations, warranties,
covenants, agreements or other obligations of the Issuer hereunder or in
any of the certificates, notices or agreements delivered pursuant hereto,
as to all of which recourse shall be had solely to the assets of the
Issuer.

         (b) Notwithstanding anything contained herein to the contrary,
this Agreement has been accepted by Bank One, National Association, not in
its individual capacity but solely as Indenture Trustee, and in no event
shall Bank One, National Association have any liability for the
representations, warranties, covenants, agreements or other obligations of
the Issuer hereunder or in any of the certificates, notices or agreements
delivered pursuant hereto, as to all of which recourse shall be had solely
to the assets of the Issuer.

         SECTION 10.13. Conditions Precedent to Other Financing
Transactions. The Seller shall not enter into any receivables sale or other
financing transaction unless either the appropriate documents relating
thereto contain provisions substantially to the effect set out in Sections
11.17 and 11.19 of the Indenture or such transaction otherwise shall have
satisfied the Rating Agency Condition.

                                     43

<PAGE>

         IN WITNESS WHEREOF, the parties hereto have caused this Agreement
to be duly executed by their respective officers as of the day and year
first above written.

                                CNH EQUIPMENT TRUST 2000-B

                                By:  THE BANK OF NEW YORK,
                                        not in its individual capacity but
                                         solely as Trustee of the Trust

                                By: /s/ Erwin Soriano
                                    ----------------------------------------
                                     Name:  Erwin Soriano
                                     Title: Assistant Treasurer

                                CNH CAPITAL RECEIVABLES INC.,
                                as Seller

                                By: /s/ James S. Broenen
                                    ----------------------------------------
                                    Name:  James S.  Broenen
                                    Title: Senior Vice President &
                                           Chief Financial Officer

                                CASE CREDIT CORPORATION,
                                 as Servicer

                                By: /s/ James S. Broenen
                                    --------------------------------------
                                    Name:   James S.  Broenen
                                    Title:  Senior Vice President &
                                            Chief Financial Officer

Acknowledged and Accepted:

BANK ONE, NATIONAL ASSOCIATION,
  not in its individual capacity
  but solely as Indenture Trustee

By: /s/ Keith R. Richardson
    ---------------------------
     Name:  Keith R. Richardson
     Title: Vice president

                                     44

<PAGE>

                                                                       EXHIBIT A
                                                 to Sale and Servicing Agreement

                            FORM OF NOTEHOLDER'S
                   STATEMENT PURSUANT TO SECTION 5.10(a)
                   -------------------------------------

                  Payment Date: ______________________

(i)      Amount of principal being paid on Notes:

         A-1 Notes:   __________   ($_____ per $1,000 original principal amount)

         A-2 Notes:   __________   ($_____ per $1,000 original principal amount)

         A-3 Notes:   __________   ($_____ per $1,000 original principal amount)

         A-4 Notes:   __________   ($_____ per $1,000 original principal amount)

         Class B Notes: ________   ($_____ per $1,000 original principal amount)

(ii)     Amount of interest being paid on Notes:

         A-1 Notes:   __________   ($_____ per $1,000 original principal amount)

         A-2 Notes:    _________   ($_____ per $1,000 original principal amount)

         A-3 Notes:    _________   ($_____ per $1,000 original principal amount)

         A-4 Notes:    _________   ($_____ per $1,000 original principal amount)

         Class B Notes: ________   ($_____ per $1,000 original principal amount)

(iii)    Pool Balance at end of the preceding Collection Period: _____

(iv)     After giving effect to distributions on this Payment Date:

         (a)      (1)      Outstanding Amount of A-1 Notes: _______
                  (2)      Outstanding Amount of A-2 Notes: _______
                  (3)      Outstanding Amount of A-3 Notes: _______
                  (4)      Outstanding Amount of A-4 Notes: _______
                  (5)      Outstanding Amount of Class B Notes: _______
                  (6)      A-1 Note Pool Factor: _____
                  (7)      A-2 Note Pool Factor: _____
                  (8)      A-3 Note Pool Factor: _____
                  (9)      A-4 Note Pool Factor: _____
                  (10)     Class B Note Pool Factor: _____

<PAGE>

         (b)      (1)      Certificate Balance: __________
                  (2)      Certificate Pool Factor: __________

(v)    Amount of Servicing Fee: ____     ($___ per $1,000 original principal
       amount)

(vi)   Amount of Administration Fee: ___ ($___ per $1,000 original principal
       amount)

(vii)  Aggregate Amount of Realized Losses for the Collection Period: ________

(viii) Aggregate Purchase Amounts for the Collection Period:  __________

(ix)   Balance of Spread Account: __________

(x)    Pre-funded Amount: __________

(xi)   Balance of Principal Supplement Account:__________

(xii)  Balance of Negative Carry Account: __________

                                     2

<PAGE>

                                                                       EXHIBIT B
                                                 to Sale and Servicing Agreement

                        FORM OF CERTIFICATEHOLDER'S
                   STATEMENT PURSUANT TO SECTION 5.10(a)
                   -------------------------------------

                  Payment Date: ______________________

(i)      Amount of principal being paid or distributed:

         (a)  (1) A-1 Notes: __________
              (2) A-2 Notes: __________
              (3) A-3 Notes: __________
              (4) A-4 Notes: __________
              (5) Class B Notes: __________

         (b)  Certificates: _____   ($____ per $1,000 original principal amount)

         (c)  Total: __________

(ii)     Amount of interest being paid or distributed:

         (a)  (1) A-1 Notes: __________
              (2) A-2 Notes: __________
              (3) A-3 Notes: __________
              (4) A-4 Notes: __________
              (5) Class B Notes: __________

         (b)  Certificates: ______  ($____ per $1,000 original principal amount)

         (c)      Total: __________

(iii)    Pool Balance at end of the preceding Collection Period: _____

(iv)     After giving effect to distributions on this Payment Date:

         (a)      (1)      Outstanding Amount of A-1 Notes: _______
                  (2)      Outstanding Amount of A-2 Notes: _______
                  (3)      Outstanding Amount of A-3 Notes: _______
                  (4)      Outstanding Amount of A-4 Notes: _______
                  (5)      Outstanding Amount of Class B Notes: _______
                  (6)      A-1 Note Pool Factor: _____
                  (7)      A-2 Note Pool Factor: _____
                  (8)      A-3 Note Pool Factor: _____

<PAGE>

                  (9)      A-4 Note Pool Factor: _____
                  (10)     Class B Note Pool Factor: _____

         (b)      (1)      Certificate Balance: __________
                  (2)      Certificate Pool Factor: __________

(v)      Amount of Servicing Fee: ______ ($_____ per $1,000 original principal
         amount)

(vi)     Amount of Administration Fee: _____    ($_____ per $1,000 original
         principal amount)

(vii)    Aggregate amount of Realized Losses for the Collection Period: ________

(viii)   Aggregate Purchase Amounts for the Collection Period:  __________

(ix)     Balance of Spread Account: __________

(x)      Pre-Funded Amount:__________

(xi)     Balance of Negative Carry Account: __________

                                     2

<PAGE>

                                                                       EXHIBIT C
                                                 to Sale and Servicing Agreement

                       FORM OF SERVICER'S CERTIFICATE

The Bank of New York
101 Barclay Street, Floor 12E
New York, New York 10286
Attention: Corporate Trust Administration - Asset Backed Finance Unit

Bank One, National Association
1 Bank One Plaza, Suite IL1-0126
Chicago, Illinois 60670-0126
Attention: Global Corporate Trust Services

CNH Capital Receivables Inc.
100 South Saunders Road
Lake Forest, Illinois 60045
Attention: Secretary

Moody's Investors Service, Inc.
ABS Monitoring Department
99 Church Street
New York, New York 10007

Standard & Poor's Ratings Services,
  a division of McGraw-Hill Companies, Inc.
55 Water Street
New York, New York 10041
Attention: Asset Backed Surveillance Department

<PAGE>

                        Class A-1 Asset-Backed Notes
                        Class A-2 Asset-Backed Notes
                        Class A-3 Asset-Backed Notes
                        Class A-4 Asset-Backed Notes
                         Class B Asset-Backed Notes
                                Certificates
                       -----------------------------

Determination Date:                                                   __-___-__

                               DISTRIBUTIONS

(1)      Total Distribution Amount                                     $________

(2)      Servicing Fee                                                 $________

(3)      Administration Fee                                            $________

(4)      Class A Noteholder's Class Interest Amount:                   $________

         o Interest on Class A Notes ($________)
         o Class A Noteholder's Class Interest Shortfall,
            if any ($___________)

(5)      Class B Noteholders' Class Interest Amount                    $________

         o Interest on Class B Notes ($_________)
         o Class B Noteholders' Class Interest Shortfall ($_______)

(6)      Class Principal Distributable Amount                          $________

         o   Class A Noteholders' Monthly Principal Distributable Amount
         o   Class Principal Distributable Amount for each Class of Class
             A Notes having priority of payment over such Class of Class
             A Notes
         o   Outstanding principal amount of that Class

(7)      Class A Noteholders' Monthly Principal Distributable Amount   $________

         o   Aggregate scheduled principal payments on the Receivables received
             during the Collection Period ($_________)
         o   Outstanding principal balance of the Class A Notes and
             Certificates ($________)
         o   Pool Balance ($________)
         o   Amounts on deposit in the Pre-Funding Account ($________)
         o   Outstanding amount of Class A Notes ($________)

                                     2

<PAGE>

(8)      A-1 Noteholders' Class Principal Distributable Amount         $________

         o Class A Noteholders' Monthly Principal
                  Distributable Amount  ($________)
         o A-1 Noteholders' outstanding principal amount  ($________)

(9)      A-2 Noteholders' Class Principal Distributable Amount         $________

         o Class A Noteholders' Monthly Principal
                  Distributable Amount  ($________)
         o A-1 Noteholders' Class Principal Distributable Amount ($________)
         o A-2 Noteholders' Outstanding Amount  ($________)

(10)     A-3 Noteholders' Class Principal Distributable Amount         $________

         o Class A Noteholders' Monthly Principal
                  Distributable Amount  ($________)
         o A-1 Noteholders' Class Principal Distributable Amount ($________)
         o A-2 Noteholders' Class Principal Distributable Amount ($________)
         o A-3 Noteholders' Outstanding Amount  ($________)

(11)     A-4 Noteholders' Class Principal Distributable Amount         $________

         o Class A Noteholders' Monthly Principal
                  Distributable Amount  ($________)
         o A-1 Noteholders' Class Principal Distributable Amount ($________)
         o A-2 Noteholders' Class Principal Distributable Amount ($________)
         o A-3 Noteholders' Class Principal Distributable Amount ($________)
         o A-4 Noteholders' Outstanding Amount ($________)

(12)     Class B Noteholders' Monthly Principal Distributable Amount   $________

         o   Outstanding principal balance of the Class A Notes (after
             giving effect to payments on the Class A Notes), Class B Notes
             and the Certificates ($________)
         o   Pool Balance ($________)
         o   Amounts on deposit in the Pre-Funding Account ($________)
         o   Outstanding amount of Class B Notes ($________)

(13)     NOTEHOLDERS' DISTRIBUTABLE AMOUNT                             $________
             (4)+ (5)+(8)+(9)+(10)+(11)+(12)

                                     3

<PAGE>

(14)     Certificateholders' Interest Distributable Amount             $________

         o Interest at the Pass-Through Rate on Certificate Balance ($________)
         o Certificateholders' Interest Shortfall ($________)

(15)     Certificateholders' Monthly Principal Distributable Amount    $________

         o   Outstanding principal balances of the Class A Notes and the
             Class B Notes (after giving effect to payments on the Class A
             Notes and Class B Notes) and the Certificates ($________)
         o   Pool Balance ($________)
         o   Amounts on deposit in the Pre-Funding Account ($________)
         o   Outstanding amount of Certificates ($________)

(16)     CERTIFICATEHOLDERS' DISTRIBUTABLE AMOUNT (14)+(15)            $________

(17)     Deposit to Note Distribution Account                          $________

         o   Excess, if any, of Total Distribution Amount (1), less the
             Administration Fee (3), less the Servicing Fee (2*)
         o   Withdrawal from Spread Account pursuant to Section 5.6(d)
             (see (24) below)
         o   Withdrawal from Spread Account pursuant to Section 5.6(e)
             (see (25) below)
         o   Withdrawal from Principal Supplement Accounts pursuant to
             Section 5.9
         o   But not greater than the Noteholders' Distributable
             Amount (13)

(18)     Deposit to Spread Account pursuant to Section 5.5(b)(vi)      $________

         o   Excess, if any, of Total Distribution Amount (1), less the
             Administration Fee (3), less the Servicing Fee (2*), less the
             Noteholders' Distributable Amount (13)
         o   But not greater than Item (22) below

(19)     Deposit to Certificate Distribution Account                   $________

         o   Excess, if any, of Total Distribution Amount (1), less the
             Administration Fee (3), less the Servicing Fee (2*), less the
             Noteholders' Distributable Amount (13), less the Deposit to
             Spread Account (18)
         o   But not greater than the Certificateholders' Distributable Amount
             (16)

* The Servicing Fee (2) shall not be included if Case Credit or an
Affiliate of Case Credit is the Servicer.

                                     4

<PAGE>

                               SPREAD ACCOUNT
                               --------------

(20)     Spread Account Balance as of Determination Date               $________
             (prior to any deposits or withdrawals)

(21)     Specified Spread Account Balance (after all distributions an  $________
         adjustments)

(22)     Limit on Deposit to the Spread Account                        $________

         o   The excess, if any, of the Specified Spread Account Balance
             (21) less the Spread Account Balance as of the Determination
             Date (prior to any deposits or withdrawals) (20)

(23)     Withdrawal from Spread Account distributed to Seller          $________
         (as permitted in Sections 5.6(b) and (c) of the Sale and
         Servicing Agreement)

         o   The excess, if any, of the Spread Account Balance as of the
             Determination Date (prior to any deposits or withdrawals) (20)
             less the Specified Spread Account Balance (21)
         o   But zero, if (a) the sum of the Pool Balance (23) and the
             Pre-Funded Amount as of the first day of the Collection
             Period; is less than (b) the sum of the Note Balance and the
             Certificate Balance

(24)     Withdrawal from Spread Account pursuant to Section 5.6(d)     $________
         to be deposited in the Note Distribution Account
         o   Excess, if any, of the Noteholders' Distributable Amount (13), less
             the Total Distribution Amount (1), less the Administration Fee (3),
             less the Servicing Fee (2*)
         o   But not Greater than the Spread Account Balance (20)

(25)     Withdrawal from Spread Account pursuant to Section 5.6(e)     $________
         to be deposited in the Note Distribution Account

         o   Excess, if any, of Class Principal Distributable Amount for
             any Class of Notes for the applicable final scheduled maturity
             date for such Class of Notes, less the Total Distribution
             Amount (1), less the Class Principal Distributable Amount for
             each Class of Notes having priority over such Class of Notes
         o   But not Greater than the Spread Account Balance (20)

(26)     Final Spread Account Balance (20) + (18) - (23) - (24) - (25) $________

                                     5

<PAGE>

                               MISCELLANEOUS

(27)     Pool Balance at the beginning of this Collection Period       $________

(28)     After giving effect to all distributions on the Payment Date during
         this Collection Period:

         (a) Outstanding Amount of A-1 Notes                           $________
             A-1 Note Pool Factor (_._______)

         (b) Outstanding Amount of A-2 Notes                           $________
             A-2 Note Pool Factor (_._______)

         (c) Outstanding Amount of A-3 Notes                           $________
             A-3 Note Pool Factor (_._______)

         (d) Outstanding Amount of A-4 Notes                           $________
             A-4 Note Pool Factor (_._______)

         (e) Outstanding Amount of Class B Notes
             Class B Note Pool Factor (_._______)

         (f) Outstanding Amount of Certificates                        $________
             Certificate Pool Factor (_._______)

(29)     Aggregate Purchase Amounts for the preceding Collection       $________
         Period

                                     6

<PAGE>

                                                                      EXHIBIT D
                                                 to Sale and Servicing Agreement

                             FORM OF ASSIGNMENT
                             ------------------

         For value received, in accordance with and subject to the Sale and
Servicing Agreement dated as of September 1, 2000 (the "Sale and Servicing
Agreement"), among the undersigned, Case Credit Corporation ("Case Credit")
and CNH Equipment Trust 2000-B (the "Issuer"), the undersigned does hereby
sell, assign, transfer set over and otherwise convey unto the Issuer,
without recourse, all of its right, title and interest in, to and under:
(a) the Initial Receivables, including all documents constituting chattel
paper included therewith, and all obligations of the Obligors thereunder,
including all moneys paid thereunder on or after the Initial Cutoff Date,
(b) the security interests in the Financed Equipment granted by Obligors
pursuant to the Initial Receivables and any other interest of the
undersigned in such Financed Equipment, (c) any proceeds with respect to
the Initial Receivables from claims on insurance policies covering Financed
Equipment or Obligors, (d) the Liquidity Receivables Purchase Agreement
(only with respect to Contracts included in the Initial Receivables) and
the Purchase Agreements, including the right of the undersigned to cause
Case Credit or NH Credit, as the case may be, to repurchase Receivables
from the undersigned under the circumstances described therein, (e) any
proceeds from recourse to Dealers with respect to the Initial Receivables
other than any interest in the Dealers' reserve accounts maintained with
Case Credit or with NH Credit, (f) any Financed Equipment that shall have
secured an Initial Receivable and that shall have been acquired by or on
behalf of the Trust, (g) all funds on deposit from time to time in the
Trust Accounts, including the Spread Account Initial Deposit, any Principal
Supplement Account Deposit, the Negative Carry Account Initial Deposit and
the Pre-Funded Amount, and in all investments and proceeds thereof
(including all income thereon), (h) any True Lease Equipment that is
subject to any Initial Receivable, and (i) the proceeds of any and all of
the foregoing. The foregoing sale does not constitute and is not intended
to result in any assumption by the Issuer of any obligation of the
undersigned to the Obligors, insurers or any other person in connection
with the Initial Receivables, Receivables Files, any insurance policies or
any agreement or instrument relating to any of them.

         This Assignment is made pursuant to and upon the representations,
warranties and agreements on the part of the undersigned contained in the
Sale and Servicing Agreement and is to be governed in all respects by the
Sale and Servicing Agreement. Capitalized terms used herein and not
otherwise defined shall have the meanings assigned to them in the Sale and
Servicing Agreement.

<PAGE>

         IN WITNESS WHEREOF, the undersigned has caused this Assignment to
be duly executed as of September ___, 2000.

                                CNH CAPITAL RECEIVABLES INC.,

                                By: _________________________________________
                                 Name: ______________________________________
                                 Title: _____________________________________

                                     2

<PAGE>

                                                                       EXHIBIT E
                                                 to Sale and Servicing Agreement

                   FORM OF SUBSEQUENT TRANSFER ASSIGNMENT
                   --------------------------------------

         For value received, in accordance with and subject to the Sale and
Servicing Agreement dated as of September 1, 2000 (the "Sale and Servicing
Agreement"), among CNH Equipment Trust 2000-B, a Delaware business trust
(the "Issuer"), CNH Capital Receivables Inc., a Delaware corporation (the
"Seller"), and Case Credit Corporation, a Delaware corporation ("Case
Credit"), the Seller does hereby sell, transfer, assign, set over and
otherwise convey to the Issuer, without recourse, all of its right, title
and interest in, to and under: (a) the Subsequent Receivables, with an
aggregate Contract Value equal to $________, listed on Schedule A hereto,
including all documents constituting chattel paper included therewith, and
all obligations of the Obligors thereunder including all moneys paid
thereunder on or after the Subsequent Cutoff Date, (b) the security
interests in the Financed Equipment granted by Obligors pursuant to such
Subsequent Receivables and any other interest of the Seller in such
Financed Equipment, (c) any proceeds with respect to such Subsequent
Receivables from claims on insurance policies covering Financed Equipment
or Obligors, (d) the Liquidity Receivables Purchase Agreement (only with
respect to Subsequent Receivables purchased by the Seller pursuant to that
Agreement) and the Purchase Agreements, including the right of the Seller
to cause Case Credit or NH Credit, as the case may be, to repurchase
Subsequent Receivables from the Seller under the circumstances described
therein, (e) any proceeds from recourse to Dealers with respect to such
Subsequent Receivables other than any interest in the Dealers' reserve
accounts maintained with Case Credit or NH Credit, (f) any Financed
Equipment that shall have secured any such Subsequent Receivables and that
shall have been acquired by or on behalf of the Trust, (g) any True Lease
Equipment that is subject to any Subsequent Receivable, and (h) the
proceeds of any and all of the foregoing. The foregoing sale does not
constitute and is not intended to result in any assumption by the Issuer of
any obligation of the Seller to the Obligors, insurers or any other person
in connection with such Subsequent Receivables, Receivable Files, any
insurance policies or any agreement or instrument relating to any of them.

         This Subsequent Transfer Assignment is made pursuant to and upon
the representations, warranties and agreements on the part of the Seller
contained in the Sale and Servicing Agreement (including the Officers'
Certificate of the Seller accompanying this Agreement) and is to be
governed in all respects by the Sale and Servicing Agreement. Capitalized
terms used but not otherwise defined herein shall have the meanings
assigned to them in the Sale and Servicing Agreement.

<PAGE>

         IN WITNESS WHEREOF, the undersigned has caused this Subsequent
Transfer Assignment to be duly executed as of ___________________, _____.

                                CNH CAPITAL RECEIVABLES INC.

                                By: _________________________________________
                                 Name: ______________________________________
                                 Title: _____________________________________

                                     2

<PAGE>

                                                                      SCHEDULE A
                                               to Subsequent Transfer Assignment

                     SCHEDULE OF SUBSEQUENT RECEIVABLES
                     ----------------------------------

                                 [Attached]

<PAGE>

                                                                         ANNEX A
                                               to Subsequent Transfer Assignment

                           OFFICERS' CERTIFICATE
                           ---------------------

         We, the undersigned officers of CNH Capital Receivables Inc. (the
"Company"), do hereby certify, pursuant to Section 2.2(b)(xv) of the Sale
and Servicing Agreement dated as of September 1, 2000, among the Company,
CNH Equipment Trust 2000-B and Case Credit Corporation (the "Agreement"),
that all of the conditions precedent to the transfer to the Issuer of the
Subsequent Receivables listed on Schedule A to the Subsequent Transfer
Assignment delivered herewith, and the other property and rights related to
such Subsequent Receivables as described in Section 2.2(a) of the
Agreement, have been satisfied on or prior to the related Subsequent
Transfer Date.

         Capitalized terms used but not defined herein shall have the
meanings assigned to such terms in the Agreement.

         IN WITNESS WHEREOF, the undersigned have caused this certificate
to be duly executed this _____day of _____________, ______.

                                By:__________________________________________
                                   Name: ____________________________________
                                   Title:____________________________________

                                By:__________________________________________
                                   Name: ____________________________________
                                   Title:____________________________________

<PAGE>

Page 1
______________,  ______

                                                                       EXHIBIT F
                                                 to Sale and Servicing Agreement

                 FORM OF ACCOUNTANTS' LETTER IN CONNECTION
            WITH THE SUBSEQUENT TRANSFER ASSIGNMENT PURSUANT TO
          SECTION 2.2(b)(xiv) OF THE SALE AND SERVICING AGREEMENT

                      [Letterhead of Arthur Andersen]

______________,  ______

CNH Capital Receivables Inc.
100 South Saunders Road
Lake Forest, Illinois 60045

CNH Equipment Trust 2000-B
700 State Street
Racine, Wisconsin 53404

Chase Securities Inc.
270 Park Avenue
New York, New York 10017

Bank One, National Association
1 Bank One Plaza, Suite IL1-0126
Chicago, Illinois 60670-0126

The Bank of New York
101 Barclay Street, Floor 12 E
New York, New York 10286

Dear Ladies and Gentlemen:

This letter is issued at the request of CNH Capital Receivables Inc. (the
"Seller") with respect to the sale of certain retail receivables (the
"Subsequent Receivables") to the CNH Equipment Trust 2000- B (the "Trust")
pursuant to the Sale and Servicing Agreement dated as of September 1, 2000
(the "Sale and Servicing Agreement") among the Trust, the Seller and Case
Credit Corporation (the "Servicer"). The sale of the Subsequent Receivables
is described in the prospectus dated September 8, 2000 and the prospectus
supplement dated September 13, 2000 (together, the "Prospectus"), which
relates to the offering by the Trust of Class A-1 _____% Asset Backed

<PAGE>

Page 2
___________, ______

Notes, Class A-2 _____% Asset Backed Notes, Class A-4 _____% Asset-Backed
Notes, Class A-3 _____% Asset- Backed Notes and Class B Asset Backed Notes
(collectively, the "Notes") and the _____% Asset Backed Certificates (the
"Certificates"). Capitalized terms used herein and not otherwise defined
have the meaning described in the Prospectus or the Sale and Servicing
Agreement, as applicable. In connection therewith, we performed or have
previously performed certain agreed upon procedures as specified in the
items below:

1.       As previously communicated in our letter to the Seller, the Trust,
         ____________________, the Indenture Trustee and the Trustee dated
         _________, _______ relating to the sale of certain retail
         receivables (the "Initial Receivables") and the offering of the
         Notes and the Certificates, we performed several procedures based
         on a computer data file (the "Initial File") received from the
         Servicer, including the following:

         a.       We read certain fields on the Initial File to determine
                  whether the data pertaining to the Initial Receivables
                  complied with the selection criteria as noted in our
                  previous letter.

         b.       Proved the arithmetic accuracy of the Aggregate Contract
                  Value and the related percentage of Initial Receivables
                  coded as representing construction and forestry equipment
                  and the Total Aggregate Contract Value of the Initial
                  Receivables as shown on Schedule B.

         c.       Proved the arithmetic accuracy of the Weighted Average
                  Original Term of the Initial Receivables as shown in
                  Schedule B.

2.       On ______________, _____, we obtained a computer data file (the
         "Subsequent File") produced by and represented by the Servicer to
         contain the list of the Subsequent Receivables. The Subsequent
         File was received directly by Arthur Andersen LLP from the
         Servicer. By use of data retrieval software, we have performed the
         following with respect to the information contained in the
         Subsequent File:

        a.   We read certain fields on the Subsequent File to determine whether
             the data relating to the Subsequent Receivables complied with
             selection criteria 1, 2 and 4 as shown on Schedule A. For purposes
             of selection criteria 3, as shown on Schedule A, we read certain
             fields from the Initial File and Subsequent File to aggregate the
             total Contract Value for each account number for the purpose of
             determining the Contract Value for each Obligor. The total
             Contract Value for each account number was then compared
             to the aggregate Contract Value to determine if the selection
             criteria was achieved.

<PAGE>

Page 3
__________, _______

         b.       Proved the arithmetic accuracy of the Aggregate Contract
                  Value and the related percentage of the Subsequent
                  Receivables coded as representing construction and
                  forestry equipment and the Total Aggregate Contract Value
                  of the Subsequent Receivables as shown on Schedule B.

         c.       Proved the arithmetic accuracy of the Weighted Average
                  Original Term of the Subsequent Receivables as shown in
                  Schedule B.

3.       We proved the arithmetic accuracy of the columnar totals for
         Aggregate Contract Value of construction and forestry equipment
         and the Total Aggregate Contract Value as shown on Schedule B.

4.       We proved the arithmetic accuracy of the percent of total column as
         shown in 1 on Schedule B by dividing the amount in the Total Aggregate
         Contract Value of construction and forestry equipment column by the
         amount in the Total Aggregate Contract Value column. We also proved
         the arithmetic accuracy of the Weighted Average Original Term as shown
         in 2 on Schedule B by summing the products of Total Aggregate Contract
         Value times Weighted Average Original Term for the Initial Receivables
         and the Subsequent Receivables and dividing the resulting sum by the
         columnar total of the Total Aggregate Contract Value.

The foregoing procedures do not constitute an audit conducted in accordance
with generally accepted auditing standards, and, therefore, we are unable
to and do not express an opinion on any individual balances or summaries of
selected transactions specifically set forth in this letter. Also, these
procedures would not necessarily reveal matters of significance with
respect to the findings described herein. Accordingly, we make no
representations regarding the sufficiency of the foregoing procedures for
your purposes of for questions of legal interpretation. Had we performed
additional procedures, other matters might have come to our attention that
would have been reported to you. Further, we have addressed ourselves
solely to the foregoing data in the Sale and Servicing Agreement and the
Prospectus and make no representations regarding the adequacy of disclosure
regarding whether any material facts have been omitted.

This letter is solely for the information of the addressees and is not to
be used, circulated, quoted or otherwise referred to for any other purpose
including, but not limited to, the purchase or sale of Notes or
Certificates, nor is it to be referred to in any document. Furthermore, we
undertake no responsibility to update this letter for events and
circumstances occurring after the date of this letter.

Very truly yours,

ARTHUR ANDERSEN LLP

<PAGE>

Page 4
___________, _______

                                                                    SCHEDULE A
                                                        to Accountant's Letter

      Selection Criteria                                               Results
      ------------------                                               -------

1.    No Subsequent Receivables was more than 90 days
      past due as of the applicable Subsequent Cutoff Date.

2.    Each Subsequent Receivable has an APR that is equal to or
      greater than the sum of the weighted average of the Interest
      Rates for the Class A Notes and the Class B Notes plus the
      Servicing Fee.

3.    Each Subsequent Receivable has a Contract Value as of the
      Subsequent Cutoff Date that (when combined with the Contract
      Value of any other Receivables with the same or an affiliated
      Obligor) does not exceed 1% of the aggregate Contract Value
      of all Receivables.

4.    Each Subsequent Receivable has a remaining term
      to maturity (i.e., the period from but excluding
      the applicable Subsequent Cutoff Date to and including
      the Receivables' maturity date) of not more than 72 months.

<PAGE>

Page 5
___________, _____

                                                                   SCHEDULE B
                                                       to Accountant's Letter

1.  Percentage of principal balance of the Receivables that represents
construction and forestry equipment:

                               Aggregate
                             Contract Value of                 Construction and
                             Construction and      Total            Forestry
                               Forestry         Aggregate          Equipment
                              Equipment       Contract Value   Percent of Total
                            ------------     ---------------  ------------------
Initial Receivables         $                 $                      %

Subsequent Receivables      $                 $                      %

Total Receivables           $                 $                      %

2.  Weighted Average Original Term of the Receivables in the Trust.

                                                                  Weighted
                                    Total Aggregate           Average Original
                                     Contract Value                 Term
                                    ---------------           ----------------

Initial Receivables                 $_____                    _____ months

Subsequent Receivables              $_____                    _____ months

Total Receivables                   $_____                    _____ months

As noted above, the Weighted Average Original Term does not exceed 55.0
months as required by the Sale and Servicing Agreement.================================================================================

                         CNH EQUIPMENT TRUST 2000-B

                          CASE PURCHASE AGREEMENT

                                  between

                          CASE CREDIT CORPORATION

                                    and

                        CNH CAPITAL RECEIVABLES INC.

                       Dated as of September 1, 2000

===============================================================================

<PAGE>

                             TABLE OF CONTENTS
                             -----------------
                                                                            Page
                                                                            ----
ARTICLE I
         Certain Definitions

         SECTION 1.1.  Definitions.............................................2
         SECTION 1.2.  Other Definitional Provisions...........................2

ARTICLE II
         Conveyance of Case Receivables
         SECTION 2.1.  Conveyance of Case Purchased Contracts..................3
         SECTION 2.2.  Conveyance of Subsequent Case Receivables...............3
         SECTION 2.3.  Intention of the Parties................................4
         SECTION 2.4.  The Closing.............................................5
         SECTION 2.5.  Payment of the Purchase Price...........................5

ARTICLE III
         Representations and Warranties
         SECTION 3.1.  Representations and Warranties of CNHCR.................6
         SECTION 3.2.  Representations and Warranties of Case Credit...........7

ARTICLE IV
         Conditions
         SECTION 4.1.  Conditions to Obligation of CNHCR......................14
         SECTION 4.2.  Conditions to Obligation of Case Credit................17

ARTICLE V
         Covenants of Case Credit
         SECTION 5.1.  Protection of Right, Title and Interest. ..............17
         SECTION 5.2.  Other Liens or Interests...............................18
         SECTION 5.3.  Chief Executive Office.................................18
         SECTION 5.4.  Costs and Expenses.....................................18
         SECTION 5.5.  Indemnification........................................18
         SECTION 5.6.  Transfer of Subsequent Case Receivables................19

ARTICLE VI
         Miscellaneous Provisions
         SECTION 6.1.  Obligations of Case Credit.............................19
         SECTION 6.2.  Repurchase Events......................................19
         SECTION 6.3.  CNHCR Assignment of Repurchased Case Receivables.......19
         SECTION 6.4.  Trust..................................................19
         SECTION 6.5.  Amendment..............................................20
         SECTION 6.6.  Accountants' Letters...................................20
         SECTION 6.7.  Waivers................................................21

                                     i

<PAGE>

                             TABLE OF CONTENTS
                                (continued)
                                                                            Page

         SECTION 6.8.   Notices...............................................21
         SECTION 6.9.   Costs and Expenses....................................21
         SECTION 6.10.  Representations of Case Credit and CNHCR..............21
         SECTION 6.11.  Confidential Information..............................21
         SECTION 6.12.  Headings and Cross-References.........................21
         SECTION 6.13.  Governing Law.........................................21
         SECTION 6.14.  Counterparts..........................................22
         SECTION 6.15.  Severability..........................................22

                                  EXHIBITS

EXHIBIT A        Form of Case Assignment
EXHIBIT B        Form of Case Subsequent Transfer Assignment

                                     ii

<PAGE>

         CASE PURCHASE AGREEMENT (as amended or supplemented from time to
time, this "Agreement"), dated as of September 1, 2000, between CASE CREDIT
CORPORATION, a Delaware corporation ("Case Credit"), and CNH CAPITAL
RECEIVABLES INC., a Delaware corporation ("CNHCR").

                                  RECITALS

         WHEREAS, in the regular course of its business, Case Credit
purchases, directly and indirectly, from equipment dealers and brokers, and
directly originates, Contracts; and

         WHEREAS, in the regular course of its business, Case Credit
purchases from Case Corporation certain Contracts originated by Case
Corporation in the ordinary course of business; and

         WHEREAS, Case Credit and CNHCR wish to set forth the terms
pursuant to which: (1) Contracts having an aggregate Contract Value of
approximately $94,987,048.11 (the "Case Purchased Contracts") as of Initial
Cutoff Date and Case Credit's right, title and interest in any True Lease
Equipment related to such Contracts are to be sold by Case Credit to CNHCR
on the date hereof and (2) certain Subsequent Case Receivables and Case
Credit's right, title and interest in any True Lease Equipment related to
such Subsequent Case Receivables are to be sold by Case Credit to CNHCR
from time to time on each Subsequent Transfer Date; and

         WHEREAS, CNHCR as of the Initial Cutoff Date, owned Contracts
previously purchased from Case Credit pursuant to a Receivables Purchase
Agreement dated as of June 28, 2000 (as amended from time to time, the
"Liquidity Receivables Purchase Agreement"), between Case Credit and CNHCR,
having an aggregate Contract Value of approximately $182,664,749.16 (the
"Owned Contracts", and together with the Case Purchased Contracts, the
"Initial Case Receivables"); and

         WHEREAS, the Initial Case Receivables and the Subsequent Case
Receivables (collectively, the "Case Receivables"), the NH Receivables and
any True Lease Equipment related to such Case Receivables or NH Receivables
will be transferred by CNHCR, pursuant to the Sale and Servicing Agreement,
to CNH Equipment Trust 2000-B (the "Trust"), which Trust will issue 7.14%
Asset Backed Certificates representing fractional undivided interests in,
and 6.66% Class A-1 Asset Backed Notes, 6.87% Class A-2 Asset Backed Notes,
6.88% Class A-3 Asset Backed Notes, 6.95% Class A-4 Asset Backed Notes and
7.14% Class B Asset Backed Notes collateralized by, the Receivables and the
other property of the Trust; and

<PAGE>

         WHEREAS, Case Credit and CNHCR wish to set forth herein certain
representations, warranties, covenants and indemnities of Case Credit with
respect to the Case Receivables for the benefit of CNHCR, the Trust, the
Noteholders and the Certificateholders.

         NOW, THEREFORE, in consideration of the foregoing, other good and
valuable consideration and the mutual terms and covenants contained herein
the parties hereto agree as follows:

                                 ARTICLE I
                            Certain Definitions

         SECTION 1.1. Definitions. Capitalized terms used herein and not
otherwise defined herein are defined in Appendix A to the Indenture, dated
as of the date hereof, between CNH Equipment Trust 2000-B and Bank One,
National Association.

         SECTION 1.2.   Other Definitional Provisions.  (a)  All terms defined
in this Agreement shall have the defined meanings when used in any certificate
or other document made or delivered pursuant hereto unless otherwise defined
therein.

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

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

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

                                     2

<PAGE>

                                 ARTICLE II
                       Conveyance of Case Receivables

         SECTION 2.1. Conveyance of Case Purchased Contracts. In
consideration of CNHCR's payment of $94,987,048.11 (the "Initial Case
Purchase Price") in the manner set out in Section 2.5(a), Case Credit does
hereby sell, transfer, assign, set over and otherwise convey to CNHCR,
without recourse (subject to the obligations herein), all of its right,
title, interest and, with respect to any Contracts that are Leases,
obligations in, to and under (collectively, the "Initial Case Assets"):

                  (i) the Case Purchased Contracts, including all documents
         constituting chattel paper included therewith, and all obligations
         of the Obligors thereunder, including all moneys paid thereunder
         on or after the Initial Cutoff Date;

                  (ii) the security interests in the Financed Equipment
         granted by Obligors pursuant to the Case Purchased Contracts and
         any other interest of Case Credit in such Financed Equipment;

                  (iii) any proceeds with respect to the Case Purchased
         Contracts from claims on insurance policies covering Financed
         Equipment or Obligors;

                  (iv) any proceeds from recourse to Dealers with respect
         to the Case Purchased Contracts other than any interest in the
         Dealers' reserve accounts maintained with Case Credit;

                  (v) any Financed Equipment that shall have secured the
         Case Purchased Contracts and that shall have been acquired by or
         on behalf of CNHCR;

                  (vi) any True Lease Equipment that is subject to any Case
         Purchased Contract; and

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

         SECTION 2.2. Conveyance of Subsequent Case Receivables. Subject to
the conditions set forth in Section 4.1(b), in consideration of CNHCR's
delivery on the related Subsequent Transfer Date to or upon the order of
Case Credit of the related Subsequent Case Purchase Price pursuant to
Section 2.5, Case Credit does hereby sell, transfer, assign, set over and
otherwise convey to CNHCR, without recourse (subject to the obligations
herein), all of its right, title, interest and, with respect to any
Contracts that are Leases, obligations in, to and under (collectively, the
"Subsequent Case Assets"; and together with the Initial Case Assets, the
"Case Assets"):

                                     3

<PAGE>

                  (i) the Subsequent Case Receivables listed on Schedule A
         to the related Case Subsequent Transfer Assignment, including all
         documents constituting chattel paper included therewith, and all
         obligations of the Obligors thereunder, including all moneys paid
         thereunder on or after the related Subsequent Cutoff Date;

                  (ii) the security interests in the Financed Equipment
         granted by Obligors pursuant to such Subsequent Case Receivables
         and any other interest of Case Credit in such Financed Equipment;

                  (iii) any proceeds with respect to such Subsequent Case
         Receivables from claims on insurance policies covering Financed
         Equipment or Obligors;

                  (iv) any proceeds with respect to such Subsequent Case
         Receivables from recourse to Dealers other than any interest in
         the Dealers' reserve accounts maintained with Case Credit;

                  (v) any Financed Equipment that shall have secured any
         such Subsequent Case Receivable and that shall have been acquired
         by or on behalf of CNHCR;

                  (vi)  any True Lease Equipment that is subject to any
         Subsequent Case Receivable; and

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

         SECTION 2.3. Intention of the Parties. The parties to this
Agreement intend that the transactions contemplated hereby shall be, and
shall be treated as, a purchase by CNHCR and a sale by Case Credit of the
Case Purchased Contracts and the Subsequent Case Receivables and any True
Lease Equipment related to such Case Purchased Contracts or Subsequent Case
Receivables, as the case may be, and not as a lending transaction. The
foregoing sale, assignment, transfer and conveyance does not constitute,
and is not intended to result in a creation or assumption by CNHCR of, any
obligation or liability with respect to any Case Purchased Contract or any
Subsequent Case Receivable, nor shall CNHCR be obligated to perform or
otherwise be responsible for any obligation of Case Credit or any other
Person in connection with the Case Purchased Contracts or the Subsequent
Case Receivables or under any agreement or instrument relating thereto,
including any contract or any other obligation to any Obligor, except that
CNHCR accepts any Contracts that are Leases subject to (and assumes) the
covenants benefitting the Obligors under such Leases.

         If (but only to the extent) that the transfer of the Case Assets
hereunder is characterized by a court or other governmental authority as a
loan rather than a sale,

                                     4

<PAGE>

Case Credit shall be deemed hereunder to have granted to CNHCR a security
interest in all of Case Credit's right, title and interest in and to the
Case Assets. Such security interest shall secure all of Case Credit's
obligations (monetary or otherwise) under this Agreement and the other
Basic Documents to which it is a party, whether now or hereafter existing
or arising, due or to become due, direct or indirect, absolute or
contingent. CNHCR shall have, with respect to the property described in
Section 2.1 and Section 2.2, and in addition to all the other rights and
remedies available to CNHCR under this Agreement and applicable law, all
the rights and remedies of a secured party under any applicable UCC, and
this Agreement shall constitute a security agreement under applicable law.

         SECTION 2.4. The Closing. The sale and purchase of the Case
Purchased Contracts shall take place at a closing at the offices of Mayer,
Brown & Platt, 190 South LaSalle Street, Chicago, Illinois 60603 on the
Closing Date, simultaneously with the closings under: (a) the NH Purchase
Agreement, (b) the Sale and Servicing Agreement, (c) the Trust Agreement,
(d) the Administration Agreement and (e) the Indenture.

         SECTION 2.5.  Payment of the Purchase Price.

         (a) Case Purchased Contracts. The Initial Case Purchase Price is
payable as follows: (i) $70,638,086.77 in cash on the Closing Date, (ii)
$24,348,961.34 in cash, which comprises a portion of the subordinated note
dated September 21, 2000, payable by CNHCR to Case Credit in an amount of
$44,696,249.35 and (iii) the remainder, if any, shall be deemed to have
been paid by CNHCR to Case Credit and returned by Case Credit to CNHCR as a
contribution to capital.

         (b) Subsequent Case Receivables. As consideration for the
conveyance of Subsequent Case Receivables pursuant to Section 2.2, CNHCR
shall pay or cause to be paid to Case Credit on each Subsequent Transfer
Date an amount (a "Subsequent Case Purchase Price") equal to the aggregate
Contract Value of the Subsequent Case Receivables as of the related
Subsequent Cutoff Date, plus any premium or minus any discount agreed upon
by Case Credit and CNHCR. Any Subsequent Case Purchase Price shall be
payable as follows: (i) cash in the amount released to CNHCR in respect of
the Subsequent Case Receivables from the Pre-Funding Account pursuant to
Section 5.7(a) of the Sale and Servicing Agreement shall be paid to Case
Credit on the related Subsequent Transfer Date; and (ii) the balance shall
be paid in cash as and when amounts are released to, or otherwise realized
by, CNHCR from the Spread Account, the Negative Carry Account, and the
Principal Supplement Account in accordance with the Sale and Servicing
Agreement, or otherwise are available for such purpose.

                                     5

<PAGE>

                                ARTICLE III
                       Representations and Warranties

         SECTION 3.1. Representations and Warranties of CNHCR. CNHCR hereby
represents and warrants to Case Credit as of the date hereof and as of the
Closing Date:

                  (a) Organization and Good Standing. CNHCR has been duly
         organized and is validly existing as a corporation in good
         standing under the laws of the State of Delaware, with the power
         and authority to own its properties and to conduct its business as
         such properties are currently owned and such business is presently
         conducted, and had at all relevant times, and has, the power and
         authority to acquire, own and sell the Case Receivables.

                  (b) Due Qualification. CNHCR is duly qualified to do
         business as a foreign corporation in good standing, and has
         obtained all necessary licenses and approvals, in all
         jurisdictions in which the ownership or lease of property or the
         conduct of its business shall require such qualifications.

                  (c) Power and Authority. CNHCR has the power and
         authority to execute and deliver this Agreement and to carry out
         its terms; and the execution, delivery and performance of this
         Agreement have been duly authorized by CNHCR by all necessary
         corporate action.

                  (d)  Binding Obligation. This Agreement constitutes a legal,
         valid and binding obligation of CNHCR enforceable against CNHCR in
         accordance with its terms.

                  (e) No Violation. The consummation of the transactions
         contemplated by this Agreement and the fulfillment of the terms
         hereof do not conflict with, result in any breach of any of the
         terms and provisions of, or constitute (with or without notice or
         lapse of time) a default under, the certificate of incorporation
         or by-laws of CNHCR, or any indenture, agreement or other
         instrument to which CNHCR is a party or by which it is bound; or
         result in the creation or imposition of any Lien upon any of its
         properties pursuant to the terms of any such indenture, agreement
         or other instrument (other than the Sale and Servicing Agreement
         and the Indenture); or violate any law or, to the best of CNHCR's
         knowledge, any order, rule or regulation applicable to CNHCR of
         any court or of any Federal or State regulatory body,
         administrative agency or other governmental instrumentality having
         jurisdiction over CNHCR or its properties.

                  (f)  No Proceedings. There are no proceedings or
        investigations pending or, to CNHCR's best knowledge, threatened,
        before any court,

                                     6

<PAGE>

         regulatory body, administrative agency or other governmental
         instrumentality having jurisdiction over CNHCR or its properties:
         (i) asserting the invalidity of this Agreement, (ii) seeking to
         prevent the consummation of any of the transactions contemplated
         by this Agreement or (iii) seeking any determination or ruling
         that could reasonably be expected to materially and adversely
         affect the performance by CNHCR of its obligations under, or the
         validity or enforceability of, this Agreement.

         SECTION 3.2.  Representations and Warranties of Case Credit. (a) Case
Credit hereby represents and warrants to CNHCR as of the date hereof and as of
the Closing Date:

                  (i) Organization and Good Standing. Case Credit has been
         duly organized and is validly existing as a corporation in good
         standing under the laws of the State of Delaware, with the power
         and authority to own its properties and to conduct its business as
         such properties are currently owned and such business is presently
         conducted, and had at all relevant times, and has, the power and
         authority to acquire, own and sell the Case Receivables.

                  (ii) Due Qualification. Case Credit is duly qualified to
         do business as a foreign corporation in good standing, and has
         obtained all necessary licenses and approvals, in all
         jurisdictions in which the ownership or lease of property or the
         conduct of its business shall require such qualifications.

                  (iii) Power and Authority. Case Credit has the power and
         authority to execute and deliver this Agreement and to carry out
         its terms; Case Credit has full power and authority to sell and
         assign the property to be sold and assigned to CNHCR hereby and
         has duly authorized such sale and assignment to CNHCR by all
         necessary corporate action; and the execution, delivery and
         performance of this Agreement have been, and the execution,
         delivery and performance of each Case Subsequent Transfer
         Assignment have been or will be on or before the related
         Subsequent Transfer Date, duly authorized by Case Credit by all
         necessary corporate action.

                  (iv) Binding Obligation. This Agreement constitutes, and
         each Case Subsequent Transfer Assignment when executed and
         delivered by Case Credit will constitute, a legal, valid and
         binding obligation of Case Credit enforceable against Case Credit
         in accordance with their terms.

                  (v) No Violation. The consummation of the transactions
         contemplated by this Agreement and the fulfillment of the terms
         hereof do not conflict with, result in any breach of any of the
         terms and provisions of, or constitute (with or without notice or
         lapse of time) a default under, the certificate of incorporation
         or by-laws of Case Credit, or any indenture,

                                     7

<PAGE>

         agreement or other instrument to which Case Credit is a party or
         by which it is bound; or result in the creation or imposition of
         any Lien upon any of its properties pursuant to the terms of any
         such indenture, agreement or other instrument (other than this
         Agreement); or violate any law or, to the best of Case Credit's
         knowledge, any order, rule or regulation applicable to Case Credit
         of any court or of any Federal or State regulatory body,
         administrative agency or other governmental instrumentality having
         jurisdiction over Case Credit or its properties.

                  (vi) No Proceedings. There are no proceedings or
         investigations pending, or to Case Credit's best knowledge,
         threatened, before any court, regulatory body, administrative
         agency or other governmental instrumentality having jurisdiction
         over Case Credit or its properties: (A) asserting the invalidity
         of this Agreement, (B) seeking to prevent the consummation of any
         of the transactions contemplated by this Agreement, or (C) seeking
         any determination or ruling that could reasonably be expected to
         materially and adversely affect the performance by Case Credit of
         its obligations under, or the validity or enforceability of, this
         Agreement.

         (b) Case Credit makes the following representations and warranties
as to the Receivables on which CNHCR relies in accepting the Initial
Receivables and the Subsequent Receivables and in transferring the
Receivables to the Trust. Such representations and warranties speak as of
the execution and delivery of this Agreement and as of the Closing Date, in
the case of the Initial Receivables, and as of the applicable Subsequent
Transfer Date, in the case of the Subsequent Receivables, but shall survive
the sale, transfer and assignment of the Receivables to CNHCR and the
subsequent assignment and transfer of such Receivables to the Trust
pursuant to the Sale and Servicing Agreement and pursuant to the Indenture:

                  (i) Characteristics of Case Receivables. Each Case
         Receivable: (A) (1) (i) was originated in the United States of
         America by a Dealer in connection with the retail sale or lease of
         Financed Equipment in the ordinary course of such Dealer's
         business, and (ii) was purchased by Case Credit from a Dealer and
         validly assigned by such Dealer to Case Credit in accordance with
         its terms, or (2) was originated in the United States of America
         by Case Credit in connection with the financing or lease of
         Financed Equipment in the ordinary course of Case Credit's
         business and, in either case, was fully and properly executed by
         the parties thereto, (B) has created a valid, subsisting and
         enforceable first priority security interest in the Financed
         Equipment in favor of Case Credit that, as of the Closing Date,
         has been assigned by Case Credit to CNHCR, by CNHCR to the Issuer
         and by the Issuer to the Indenture Trustee, except that (x) no
         security interest against the Obligor is created in True Lease
         Equipment, and (y) Case Credit makes no representation or warranty
         as to any such security interest granted by any

                                     8

<PAGE>

         Dealer to secure the Dealer's obligations to make payments in
         respect of Termination Values, (C) contains customary and
         enforceable provisions such that the rights and remedies of the
         holder thereof are adequate for realization against the collateral
         of the benefits of the security, and (D) (i) in the case of Retail
         Installment Contracts, provides for fixed payments on a periodic
         basis that fully amortize the Amount Financed by maturity and
         yield interest at the Annual Percentage Rate, and (ii) in the case
         of any Contracts sold, or to be sold, hereunder that are Leases,
         provides for fixed payments on a periodic basis that fully
         amortize the Amount Financed by maturity and yield interest at the
         Annual Percentage Rate, except that any Contracts sold, or to be
         sold, hereunder that are Leases also provide for payments of the
         related Termination Values.

                  (ii) Schedule of Case Receivables. The information set
         forth on Schedule A to the Case Assignment delivered on the
         Closing Date is true and correct in all material respects as of
         the opening of business on the Initial Cutoff Date and the
         information set forth on Schedule A to the related Case Subsequent
         Transfer Assignment will be true and correct on each Subsequent
         Transfer Date related to such Case Subsequent Transfer Assignment
         and no selection procedures believed by Case Credit to be adverse
         to the interests of the Trust, the Noteholders or the
         Certificateholders were or will be utilized in selecting the Case
         Receivables. The computer tape regarding the Case Receivables made
         available to CNHCR and its assigns is true and correct in all
         respects.

                  (iii) Compliance with Law. Each Case Receivable and the
         sale or lease of the related Financed Equipment complied in all
         material respects at the time it was originated or made and at the
         execution of this Agreement and each Case Subsequent Transfer
         Assignment complies in all material respects with all requirements
         of applicable Federal, State and local laws and regulations
         thereunder, including usury law, the Federal Truth-in-Lending Act,
         the Equal Credit Opportunity Act, the Fair Credit Reporting Act,
         the Fair Debt Collection Practices Act, the Federal Trade
         Commission Act, the Magnuson-Moss Warranty Act, the Federal
         Reserve Board's Regulations B and Z, the Wisconsin Consumer Act
         and State adaptations of the National Consumer Act and of the
         Uniform Consumer Credit Code, and other consumer credit laws and
         equal credit opportunity and disclosure laws.

                  (iv) Binding Obligation. Each Case Receivable represents
         the genuine, legal, valid and binding payment obligation in
         writing of the Obligor, enforceable by the holder thereof in
         accordance with its terms.

                                     9

<PAGE>

                  (v)  No Government Obligor. None of the Case Receivables is
         due from the United States of America or any State or from any agency,
         department or instrumentality of the United States of America or any
         State.

                  (vi) Security Interest in Financed Equipment. Immediately
         prior to the sale, assignment and transfer thereof, each Case
         Receivable shall be secured by a validly perfected first priority
         security interest in the Financed Equipment in favor of Case
         Credit as secured party or all necessary and appropriate actions
         have been commenced that would result in the valid perfection of a
         first priority security interest in the Financed Equipment in
         favor of Case Credit as secured party, except that (A) no security
         interest against the Obligor is created in True Lease Equipment
         and (B) Case Credit makes no representation or warranty as to any
         security interest granted by any Dealer to secure the Dealer's
         obligations to make payments in respect of Termination Values.

                  (vii) Case Receivables in Force. No Case Receivable has
         been satisfied, subordinated or rescinded, nor has any Financed
         Equipment been released from the Lien granted by the related Case
         Receivable in whole or in part.

                  (viii) No Amendment or Waiver. No provision of a Case
         Receivable has been waived, altered or modified in any respect,
         except pursuant to a document, instrument or writing included in
         the Receivable Files and no such amendment, waiver, alteration or
         modification causes such Case Receivable not to conform to the
         other warranties contained in this Section.

                  (ix)  No Defenses. No right of rescission, setoff,
         counterclaim or defense has been asserted or threatened or exists
         with respect to any Case Receivable.

                  (x) No Liens. To the best of Case Credit's knowledge, no
         Liens or claims, including claims for work, labor or materials,
         relating to any of the Financed Equipment have been filed that are
         Liens prior to, or equal or coordinate with, the security interest
         in the Financed Equipment granted by any Case Receivable, except
         those pursuant to the Basic Documents.

                  (xi) No Default. No Case Receivable is a non-performing
         Receivable or has a payment that is more than 90 days overdue as
         of the Initial Cutoff Date or Subsequent Cutoff Date, as
         applicable, and, except for a payment default continuing for a
         period of not more than 90 days, no default, breach, violation or
         event permitting acceleration under the terms of any Case
         Receivable has occurred and is continuing; and no continuing
         condition that with notice or the lapse of time would constitute
         such a default, breach,

                                     10

<PAGE>

         violation or event permitting acceleration under the terms of any
         Case Receivable has arisen; and Case Credit has not waived and
         shall not waive any of the foregoing.

                  (xii) Title. It is the intention of Case Credit that the
         transfers and assignments contemplated herein and in the Liquidity
         Receivables Purchase Agreement constitute a sale of the Case
         Receivables from Case Credit to CNHCR and that the beneficial
         interest in and title to the Case Receivables and any True Lease
         Equipment related to such Case Receivables not be part of the
         debtor's estate in the event of the filing of a bankruptcy
         petition by or against Case Credit under any bankruptcy or similar
         law. No Case Receivable has been sold, transferred, assigned or
         pledged by Case Credit to any Person other than CNHCR. Immediately
         prior to the transfers and assignments contemplated herein and in
         the Liquidity Receivables Purchase Agreement, Case Credit had good
         title to each Case Receivable and any True Lease Equipment related
         to such Case Receivable, free and clear of all Liens and,
         immediately upon the transfer thereof, CNHCR shall have good title
         to each Case Receivable and any True Lease Equipment, free and
         clear of all Liens; and the transfer and assignment of the Case
         Receivables to CNHCR has been perfected under the UCC.

                  (xiii) Lawful Assignment. No Case Receivable has been
         originated in, or is subject to the laws of, any jurisdiction
         under which the sale, transfer and assignment of such Case
         Receivable or any Case Receivable under this Agreement, the
         Liquidity Receivables Purchase Agreement, the Sale and Servicing
         Agreement or the Indenture is unlawful, void or voidable.

                  (xiv) All Filings Made. All filings (including UCC
         filings) necessary in any jurisdiction to give CNHCR a first
         priority perfected ownership interest in the Case Receivables have
         been made.

                  (xv)  One Original. There is only one original executed copy
         of each Case Receivable.

                  (xvi) Maturity of Receivables. Each Receivable has a
         remaining term to maturity of not more than 72 months, in the case
         of the Initial Receivables, and 72 months, in the case of the
         Subsequent Receivables; the weighted average remaining term of the
         Initial Receivables is approximately 47.52 months as of the
         Initial Cutoff Date; the weighted average original term of the
         Receivables, including as of each Subsequent Transfer Date all
         Subsequent Receivables previously transferred to CNHCR, will not
         be greater than 55.0 months.

                                     11

<PAGE>

                  (xvii) Scheduled Payments and APR. No Receivable has a
         final scheduled payment date later than six months preceding the
         Final Scheduled Maturity Date; each Receivable provides for
         payments that fully amortize the Amount Financed over the original
         term of the Receivable, except that Leases also provide for
         payments of the related Termination Values, and is either a
         Precomputed Receivable or a Simple Interest Receivable; each
         Receivable has an APR of at least 3.0%; as of each Subsequent
         Cutoff Date, the weighted average of the Initial Cutoff Date APR
         and each Subsequent Cutoff Date APR (weighted on the basis of the
         respective aggregate Contract Values of the Receivables for which
         each such APR is used to calculate the Contract Value) will not be
         less than the sum of the weighted average of the Interest Rates
         for the Class A Notes and Class B Notes plus the Servicing Fee.

                  (xviii) Insurance. The Obligor on each Case Receivable is
         required to maintain physical damage insurance covering the
         Financed Equipment and, in the case of any Lease, public liability
         insurance relating to the use of such Financed Equipment, in each
         case in accordance with Case Credit's normal requirements.

                  (xix) Concentrations. (A) No Receivable has a Statistical
         Contract Value (when combined with the Statistical Contract Value
         of any other Receivable with the same or an Affiliated Obligor)
         that exceeds 1% of the Initial Aggregate Statistical Contract
         Value.

                  (xx) Financing. Approximately 57.87% of the aggregate
         Statistical Contract Value of the Initial Receivables,
         constituting 56.16% of the number of Initial Receivables as of the
         Initial Cutoff Date, were secured by or constitute leases of
         equipment that was new at the time the related Initial Receivable
         was originated; the remainder of the Initial Receivables represent
         financing or leases of used equipment; approximately 65.29% of the
         aggregate Statistical Contract Value of the Initial Receivables,
         constituting 72.24% of the number of Initial Receivables as of the
         Initial Cutoff Date, represent financing or leases of agricultural
         equipment; the remainder of the Initial Receivables represent
         financing or leases of construction equipment. The aggregate
         Statistical Contract Value of the Receivables for the purposes of
         the above calculations as of the Initial Cutoff Date is
         $501,087,712.93. Additionally, not more than 50% of the aggregate
         Contract Value of the Receivables, including, as of each
         Subsequent Transfer Date, all Subsequent Receivables previously
         transferred to CNHCR, will represent Contracts for the financing
         or lease of construction equipment. No Subsequent Receivable will
         represent the financing of truck equipment.

                                     12

<PAGE>

                  (xxi) No Bankruptcies. No Obligor on any Case Receivable
         as of the Initial Cutoff Date or the Subsequent Cutoff Date, as
         applicable, was noted in the related Receivable File as being the
         subject of a bankruptcy proceeding.

                  (xxii)  No Repossessions. None of the Financed Equipment
         securing any Case Receivable is in repossession status.

                  (xxiii)  Chattel Paper. Each Case Receivable constitutes
         "chattel paper" as defined in the UCC of the State the law of which
         governs the perfection of the interest granted in it.

                  (xxiv)  U.S. Obligors. None of the Case Receivables is
        denominated and payable in any currency other than United States
        Dollars or is due from any Person that does not have a mailing address
        in the United States of America.

                  (xxv) Payment Frequency. As of the Initial Cutoff Date
         and as shown on the books of Case Credit: (A) Initial Receivables
         having an aggregate Statistical Contract Value equal to 40.68% of
         the Initial Aggregate Statistical Contract Value had annual
         scheduled payments, (B) Initial Receivables having an aggregate
         Statistical Contract Value equal to 4.62% of the Initial Aggregate
         Statistical Contract Value had semi-annual scheduled payments, (C)
         Initial Receivables having an aggregate Statistical Contract Value
         equal to 0.98% of the Initial Aggregate Statistical Contract Value
         had quarterly scheduled payments, (D) Initial Receivables having
         an aggregate Statistical Contract Value equal to 52.44% of the
         Initial Aggregate Statistical Contract Value had monthly scheduled
         payments, and (E) Initial Receivables having an aggregate
         Statistical Contract Value equal to 1.29% of the Initial Aggregate
         Statistical Contract Value had irregularly scheduled payments.

                  (xxvi) First Payment. As of the Initial Cutoff Date,
         Obligors had not yet made the first payment in respect of Initial
         Receivables representing less than 52.47% of the Initial Pool
         Balance.

                  (xxvii) Interest Accruing. Each Case Receivable, other
         than those Case Receivables consisting of Contracts that contain
         interest waivers for a specified period of time, is, as of the
         Closing Date or Subsequent Transfer Date, as applicable, accruing
         interest; no Case Receivable contains an interest waiver extending
         more than 12 months after the Initial Cutoff Date.

                  (xxviii) Leases. Each Lease included in the Initial Case
         Receivables or the Subsequent Case Receivables has a Termination
         Value less than or equal to 10% of the purchase price of the
         equipment subject to such Lease

                                     13

<PAGE>

         and is a "lease intended as security" (rather than a true lease)
         within the meaning of Section 1-201(37) of the UCC.

                  (xxix)  Case Credit's Representations. The representations
          and warranties of Case Credit contained in Section 3.2(a) are true
          and correct.

                  (xxx)  Case Credit's Obligations.  Case Credit has no
         obligations under any Contract, other than the covenant of quiet
         enjoyment benefiting the Obligors under any Contracts that are Leases.

                  (xxxi) No Either/or Leases. No Lease included in the
         Initial Case Receivables or the Subsequent Case Receivables is a
         Either/or Lease, and no Financed Equipment transferred to CNHCR on
         the Closing Date or any Subsequent Transfer Date, as the case may
         be, constitutes True Lease Equipment.

                                 ARTICLE IV
                                 Conditions

         SECTION 4.1.  Conditions to Obligation of CNHCR.

         (a) Case Purchased Contracts. The obligation of CNHCR to purchase the
Case Purchased Contracts is subject to the satisfaction of the following
conditions:

                  (i) Representations and Warranties True. The
         representations and warranties of Case Credit hereunder shall be
         true and correct on the Closing Date and Case Credit shall have
         performed all obligations to be performed by it hereunder on or
         prior to the Closing Date.

                  (ii) Computer Files Marked. Case Credit shall, at its own
         expense, on or prior to the Closing Date, indicate in its computer
         files that Case Receivables created in connection with the Case
         Purchased Contracts have been sold to CNHCR pursuant to this
         Agreement and deliver to CNHCR the Schedule of Case Receivables
         certified by the Chairman, the President, a Vice President or the
         Treasurer of Case Credit to be true, correct and complete.

                  (iii)  Documents To Be Delivered by Case Credit on the
         Closing Date.

                           (A) The Case Assignment. On the Closing Date
                  (but only if the Contract Value of the Case Purchased
                  Contracts is greater than zero), Case Credit will execute
                  and deliver the Case Assignment, which shall be
                  substantially in the form of Exhibit A.

                                               14

<PAGE>

                           (B) Evidence of UCC Filing. On or prior to the
                  Closing Date (but only if the Contract Value of the Case
                  Purchased Contracts is greater than zero), Case Credit
                  shall execute and file, at its own expense, a UCC
                  financing statement in each jurisdiction in which such
                  action is required by applicable law to fully perfect
                  CNHCR's right, title and interest in the Case Purchased
                  Contracts and the other property sold hereunder, executed
                  by Case Credit, as seller or debtor, and naming CNHCR, as
                  purchaser or secured party, describing the Case Purchased
                  Contracts and the other property sold hereunder, meeting
                  the requirements of the laws of each such jurisdiction
                  and in such manner as is necessary to perfect the sale,
                  transfer, assignment and conveyance of such Case
                  Purchased Contracts and such other property to CNHCR. It
                  is understood and agreed, however, that no filings will
                  be made to perfect any security interest of CNHCR in Case
                  Credit's interests in Financed Equipment. Case Credit
                  shall deliver (or cause to be delivered) a file-stamped
                  copy, or other evidence satisfactory to CNHCR of such
                  filing, to CNHCR on or prior to the Closing Date.

                           (C)  Other Documents. Case Credit will deliver such
                  other documents as CNHCR may reasonably request.

                  (iv)  Other Transactions. The transactions contemplated by
         the Sale and Servicing Agreement to be consummated on the
         Closing Date shall be consummated on such date.

         (b)  Subsequent Case Receivables. The obligation of CNHCR to purchase
any Subsequent Case Receivables is subject to the satisfaction of the following
conditions on or prior to the related Subsequent Transfer Date:

                  (i) Case Credit shall have delivered to CNHCR a duly
         executed written assignment in substantially the form of Exhibit B
         (the "Case Subsequent Transfer Assignment"), which shall include
         supplements to the Schedule of Case Receivables listing the
         Subsequent Case Receivables;

                  (ii) Case Credit shall, to the extent required by Section
         5.2 of the Sale and Servicing Agreement, have delivered to CNHCR
         for deposit in the Collection Account all collections in respect
         of the Subsequent Case Receivables;

                  (iii) as of such Subsequent Transfer Date: (A) Case
         Credit was not insolvent and will not become insolvent as a result
         of the transfer of Subsequent Case Receivables on such Subsequent
         Transfer Date, (B) Case Credit did not intend to incur or believe
         that it would incur debts that would

                                     15

<PAGE>

         be beyond Case Credit's ability to pay as such debts matured, (C)
         such transfer was not made with actual intent to hinder, delay or
         defraud any Person and (D) the assets of Case Credit did not
         constitute unreasonably small capital to carry out its business as
         conducted;

                  (iv) the applicable Spread Account Initial Deposit and
         Principal Supplement Account Deposit, if any, for such Subsequent
         Transfer Date shall have been made;

                  (v) the Funding Period shall not have terminated;

                  (vi) each of the representations and warranties made by
         Case Credit pursuant to Section 3.2(b) with respect to the
         Subsequent Case Receivables or the Subsequent Receivables shall be
         true and correct as of such Subsequent Transfer Date, and Case
         Credit shall have performed all obligations to be performed by it
         hereunder on or prior to such Subsequent Transfer Date;

                  (vii) Case Credit shall, at its own expense, on or prior
         to such Subsequent Transfer Date, indicate in its computer files
         that the Subsequent Case Receivables identified in the related
         Case Subsequent Transfer Assignment have been sold to CNHCR
         pursuant to this Agreement and the Case Subsequent Transfer
         Assignment;

                  (viii) Case Credit shall have taken any action required
         to give CNHCR a first priority perfected ownership interest in the
         Subsequent Case Receivables;

                  (ix) no selection procedures believed by Case Credit to
         be adverse to the interests of CNHCR, the Trust, the Noteholders
         or the Certificateholders shall have been utilized in selecting
         the Subsequent Case Receivables;

                  (x) the addition of the Subsequent Case Receivables will not
         result in a material adverse tax consequence to CNHCR, the Trust, the
         Noteholders or the Certificateholders;

                  (xi) Case Credit shall have provided CNHCR a statement
         listing the aggregate Contract Value of such Subsequent Case
         Receivables and any other information reasonably requested by
         CNHCR with respect to such Subsequent Case Receivables;

                  (xii) all the conditions to the transfer of the
         Subsequent Case Receivables to the Issuer specified in the Sale
         and Servicing Agreement shall have been satisfied; and

                                     16

<PAGE>

                  (xiii) Case Credit shall have delivered to CNHCR an
         Officers' Certificate confirming the satisfaction of each
         condition precedent specified in this clause (b) (substantially in
         the form attached hereto as Annex A to the Case Subsequent
         Transfer Assignment).

         SECTION 4.2. Conditions to Obligation of Case Credit. The
obligation of Case Credit to sell the Case Purchased Contracts and the
Subsequent Case Receivables to CNHCR is subject to the satisfaction of the
following conditions:

                  (a) Representations and Warranties True. The
         representations and warranties of CNHCR hereunder shall be true
         and correct on the Closing Date or the applicable Subsequent
         Transfer Date with the same effect as if then made, and CNHCR
         shall have performed all obligations to be performed by it
         hereunder on or prior to the Closing Date or such Subsequent
         Transfer Date.

                  (b) Receivables Purchase Price. On the Closing Date or
         the applicable Subsequent Transfer Date, CNHCR shall have
         delivered to Case Credit the portion of the Initial Case Purchase
         Price or the Subsequent Case Purchase Price, as the case may be,
         payable on the Closing Date or such Subsequent Transfer Date
         pursuant to Section 2.5.

                                 ARTICLE V
                          Covenants of Case Credit

         Case Credit agrees with CNHCR as follows; provided, however, that
to the extent that any provision of this Article conflicts with any
provision of the Sale and Servicing Agreement, the Sale and Servicing
Agreement shall govern:

         SECTION 5.1. Protection of Right, Title and Interest. (a) Filings.
Case Credit shall cause all financing statements and continuation
statements and any other necessary documents covering the right, title and
interest of CNHCR in and to the Case Receivables and the other property
included in the Trust Estate to be promptly filed, and at all times to be
kept recorded, registered and filed, all in such manner and in such places
as may be required by law fully to preserve and protect the right, title
and interest of CNHCR hereunder to the Case Receivables and the other
property sold hereunder. It is understood and agreed, however, that no
filings will be made to perfect any security interest of CNHCR in Case
Credit's interests in Financed Equipment. Case Credit shall deliver (or
cause to be delivered) to CNHCR file-stamped copies of, or filing receipts
for, any document recorded, registered or filed as provided above as soon
as available following such recordation, registration or filing. CNHCR
shall cooperate fully with Case Credit in connection with the

                                     17

<PAGE>

obligations set forth above and will execute any and all documents
reasonably required to fulfill the intent of this paragraph.

         (b) Name Change. Within 15 days after Case Credit makes any change
in its name, identity or corporate structure that would, could or might
make any financing statement or continuation statement filed in accordance
with paragraph (a) seriously misleading within the applicable provisions of
the UCC or any title statute, Case Credit shall give CNHCR notice of any
such change, and no later than five days after the effective date thereof,
shall file such financing statements or amendments as may be necessary to
continue the perfection of CNHCR's interest in the property included in the
Trust Estate.

         SECTION 5.2. Other Liens or Interests. Except for the conveyances
hereunder and pursuant to the Liquidity Receivables Purchase Agreement, the
Sale and Servicing Agreement, the Indenture and the other Basic Documents,
Case Credit: (a) will not sell, pledge, assign or transfer to any Person,
or grant, create, incur, assume or suffer to exist any Lien on, any
interest in, to and under the Case Receivables, and (b) shall defend the
right, title and interest of CNHCR in, to and under the Case Receivables
against all claims of third parties claiming through or under Case Credit;
provided, however, that Case Credit's obligations under this Section shall
terminate upon the termination of the Trust pursuant to the Trust
Agreement.

         SECTION 5.3.  Chief Executive Office. During the term of the Case
Receivables, Case Credit will maintain its chief executive office in one of the
States.

         SECTION 5.4. Costs and Expenses. Case Credit agrees to pay all
reasonable costs and disbursements in connection with the perfection, as
against all third parties, of CNHCR's right, title and interest in, to and
under the Case Receivables.

         SECTION 5.5. Indemnification. Case Credit shall indemnify, defend
and hold harmless CNHCR for any liability as a result of the failure of a
Case Receivable to be originated in compliance with all requirements of law
and for any breach of any of its representations and warranties contained
herein. These indemnity obligations shall be in addition to any obligation
that Case Credit may otherwise have. Case Credit shall indemnify, defend
and hold harmless CNHCR, the Issuer, the Trustee and the Indenture Trustee
(and their respective officers, directors, employees and agents) from and
against any taxes that may at any time be asserted against such Person with
respect to the sale of the Case Receivables to CNHCR hereunder or the sale
of the Case Receivables to the Issuer by CNHCR or the issuance and original
sale of the Certificates and the Notes, including any sales, gross
receipts, general corporation, tangible personal property, privilege or
license taxes (but, in the case of CNHCR and the Issuer, not including any
taxes asserted with respect to ownership of the Case Receivables on Federal

                                     18

<PAGE>

or other income taxes arising out of the transactions contemplated by this
Agreement) and costs and expenses in defending against the same.

         SECTION 5.6. Transfer of Subsequent Case Receivables. Case Credit
covenants to transfer to CNHCR, pursuant to Section 2.2, Subsequent Case
Receivables with an aggregate Contract Value approximately equal to
$499,968,399.49 minus the aggregate Contract Value of any Receivables sold
to CNHCR by NH Credit pursuant to Section 5.6 of the NH Purchase Agreement,
subject only to the availability of such Subsequent Case Receivables.

                                 ARTICLE VI
                          Miscellaneous Provisions

         SECTION 6.1. Obligations of Case Credit. The obligations of Case
Credit under this Agreement shall not be affected by reason of any
invalidity, illegality or irregularity of any Case Receivable.

         SECTION 6.2. Repurchase Events. Case Credit hereby covenants and
agrees with CNHCR for the benefit of CNHCR, the Indenture Trustee, the
Noteholders, the Trustee and the Certificateholders that the occurrence of
a breach of any of Case Credit's representations and warranties contained
in Section 3.2(b), shall constitute events obligating Case Credit to
repurchase any Case Receivable and, with respect to a breach of any of Case
Credit's representations and warranties contained in Sections 3.2(b)(xvi),
(xvii), (xix), (xx), (xxv) and (xxvi), any NH Receivable materially and
adversely affected by any such breach ("Repurchase Events") at the Purchase
Amount from CNHCR or from the Trust. Except as set forth in Section 5.5,
the repurchase obligation of Case Credit shall constitute the sole remedy
of CNHCR, the Indenture Trustee, the Noteholders, the Trust, the Trustee or
the Certificateholders against Case Credit with respect to any Repurchase
Event.

         SECTION 6.3. CNHCR Assignment of Repurchased Receivables. With
respect to all Receivables repurchased by Case Credit pursuant to this
Agreement, CNHCR shall sell, transfer, assign, set over and otherwise
convey to Case Credit, without recourse, representation or warranty, all of
CNHCR's right, title and interest in, to and under such Receivables, and
all security and documents relating thereto.

         SECTION 6.4. Trust. Case Credit acknowledges and agrees that: (a)
CNHCR will, pursuant to the Sale and Servicing Agreement, sell the Case
Receivables to the Trust and assign its rights under this Agreement to the
Trust, (b) the Trust will, pursuant to the Indenture, assign such Case
Receivables and such rights to the Indenture Trustee and (c) the
representations, warranties and covenants contained in this Agreement and
the rights of CNHCR under this Agreement, including under Section 6.2, are
intended to benefit the Trust, the Certificateholders

                                     19

<PAGE>

and the Noteholders. Case Credit hereby consents to all such sales and
assignments and agrees that enforcement of a right or remedy hereunder by
the Indenture Trustee shall have the same force and effect as if the right
or remedy had been enforced or executed by CNHCR.

         SECTION 6.5. Amendment. This Agreement may be amended from time to
time, with prior written notice to the Rating Agencies, by a written
amendment duly executed and delivered by Case Credit and CNHCR, without the
consent of the Noteholders or the Certificateholders, to cure any
ambiguity, to correct or supplement any provisions in this Agreement or for
the purpose of adding any provisions to or changing in any manner or
eliminating any of the provisions of this Agreement or of modifying in any
manner the rights of the Noteholders or the Certificateholders; provided,
however, that such amendment will not in the Opinion of Counsel, materially
and adversely affect the interest of any Noteholder or Certificateholder.

         This Agreement may also be amended from time to time by Case
Credit and CNHCR, with prior written notice to the Rating Agencies, with
the written consent of (x) Noteholders holding Notes evidencing at least a
majority of the Note Balance and (y) the Holders of Certificates evidencing
at least a majority of the Certificate Balance, for the purpose of adding
any provisions to or changing in any manner or eliminating any of the
provisions of this Agreement or of modifying in any manner the rights of
the Noteholders or the Certificateholders; provided, however, that no such
amendment may: (i) increase or reduce in any manner the amount of, or
accelerate or delay the timing of, collections of payments on Case
Receivables or distributions that are required to be made for the benefit
of the Noteholders or the Certificateholders or (ii) reduce the aforesaid
percentage of the Notes and Certificates that are required to consent to
any such amendment, without the consent of the holders of all the
outstanding Notes and Certificates.

         It shall not be necessary for the consent of Certificateholders or
Noteholders pursuant to this Section to approve the particular form of any
proposed amendment or consent, but it shall be sufficient if such consent
shall approve the substance thereof.

         SECTION 6.6. Accountants' Letters. (a) A firm of independent
certified public accountants will review the characteristics of the
Receivables described in the Schedule of Receivables and will compare those
characteristics to the information with respect to the Receivables
contained in the Prospectus, (b) Case Credit will cooperate with CNHCR and
such accounting firm in making available all information and taking all
steps reasonably necessary to permit such accounting firm to complete the
review set forth in clause (a) and to deliver the letters required of them
under the Underwriting Agreement, (c) such accounting firm will deliver to
CNHCR a letter, dated the date of the Prospectus, in the form previously
agreed to

                                     20

<PAGE>

by Case Credit, NH Credit and CNHCR, with respect to the financial and
statistical information contained in the Prospectus and with respect to
such other information as may be agreed in the form of the letter.

         SECTION 6.7. Waivers. No failure or delay on the part of CNHCR in
exercising any power, right or remedy under this Agreement, the Case
Assignment or any Case Subsequent Transfer Assignment shall operate as a
waiver thereof, nor shall any single or partial exercise of any such power,
right or remedy preclude any other or further exercise thereof or the
exercise of any other power, right or remedy.

         SECTION 6.8. Notices. All demands, notices and communications
under this Agreement shall be in writing, personally delivered or mailed by
certified mail, return receipt requested, and shall be deemed to have been
duly given upon receipt: (a) in the case of Case Credit, to Case Credit
Corporation, 233 Lake Avenue, Racine, Wisconsin 53403, Attention: Treasurer
(telephone (414) 636-6011); (b) in the case of CNHCR, to CNH Capital
Receivables Inc., 100 South Saunders Road, Lake Forest, Illinois 60045,
Attention: Treasurer (telephone (847) 735-9200); (c) in the case of the
Rating Agencies, at their respective addresses set forth in Section 10.3 of
the Sale and Servicing Agreement; or, as to each of the foregoing, at such
other address as shall be designated by written notice to the other
parties.

         SECTION 6.9. Costs and Expenses. Case Credit will pay all expenses
incident to the performance of its obligations under this Agreement and
Case Credit agrees to pay all reasonable out-of-pocket costs and expenses
of CNHCR, excluding fees and expenses of counsel, in connection with the
perfection as against third parties of CNHCR's right, title and interest
in, to and under the Case Receivables and the enforcement of any obligation
of Case Credit hereunder.

         SECTION 6.10. Representations of Case Credit and CNHCR. The
respective agreements, representations, warranties and other statements by
Case Credit and CNHCR set forth in or made pursuant to this Agreement shall
remain in full force and effect and will survive the closing under Section
2.4.

         SECTION 6.11. Confidential Information. CNHCR agrees that it will
neither use nor disclose to any Person the names and addresses of the
Obligors, except in connection with the enforcement of CNHCR's rights
hereunder, under the Case Receivables, under the Sale and Servicing
Agreement or the Indenture or any other Basic Document or as required by
any of the foregoing or by law.

         SECTION 6.12. Headings and Cross-References. The various headings
in this Agreement are included for convenience only and shall not affect
the meaning or interpretation of any provision of this Agreement.
References in this Agreement to Section names or numbers are to such
Sections of this Agreement unless otherwise expressly indicated.

                                     21

<PAGE>

         SECTION 6.13. Governing Law. This Agreement, the Case Assignment,
and each Case Subsequent Transfer Assignment shall be construed in
accordance with the laws of the State of New York, without reference to its
conflict of law provisions, and the obligations, rights and remedies of the
parties hereunder or thereunder shall be determined in accordance with such
laws.

         SECTION 6.14. Counterparts. This Agreement may be executed in two
or more counterparts and by different parties on separate counterparts,
each of which shall be an original, but all of which together shall
constitute but one and the same instrument.

         SECTION 6.15. Severability. Any provision of this Agreement that
is prohibited or unenforceable in any jurisdiction shall, as to such
jurisdiction, be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions hereof, and
any such prohibition or unenforceability in any jurisdiction shall not
invalidate or render unenforceable such provision in any other
jurisdiction.

                                     22

<PAGE>

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

                                CNH CAPITAL RECEIVABLES INC.

                                By:  /s/ James S. Broenen
                                     -------------------------------------------
                                     Name:    James S. Broenen
                                     Title:   Senior Vice President and Chief
                                              Financial Officer

                                CASE CREDIT CORPORATION

                                By:  /s/ James S. Broenen
                                     -------------------------------------------
                                     Name:    James S. Broenen
                                     Title:   Senior Vice President and Chief
                                              Financial Officer

                                     23

<PAGE>

                                                                       EXHIBIT A
                                                      to Case Purchase Agreement

                                  FORM OF
                              CASE ASSIGNMENT
                              ----------------

         For value received, in accordance with and subject to the Case
Purchase Agreement dated as of September 1, 2000 (the "Case Purchase
Agreement"), between the undersigned and CNH Capital Receivables Inc.
("CNHCR"), the undersigned does hereby sell, assign, transfer, set over and
otherwise convey unto CNHCR, without recourse, all of its right, title,
interest and, with respect to any Contracts that are Leases, obligations
in, to and under: (a) the Case Purchased Contracts, including all documents
constituting chattel paper included therewith, and all obligations of the
Obligors thereunder, including all moneys paid thereunder on or after the
Initial Cutoff Date, (b) the security interests in the Financed Equipment
granted by Obligors pursuant to the Case Purchased Contracts and any other
interest of the undersigned in such Financed Equipment, (c) any proceeds
with respect to the Case Purchased Contracts from claims on insurance
policies covering Financed Equipment or Obligors, (d) any proceeds from
recourse to Dealers with respect to the Case Purchased Contracts other than
any interest in the Dealers' reserve accounts maintained with Case Credit
Corporation, (e) any Financed Equipment that shall have secured the Case
Purchased Contracts and that shall have been acquired by or on behalf of
CNHCR, (f) any True Lease Equipment that is subject to any Case Purchased
Contract, and (g) the proceeds of any and all of the foregoing. The
foregoing sale does not constitute and is not intended to result in any
assumption by CNHCR of any obligation (other than the covenant of quiet
enjoyment benefitting the Obligors under any Contracts that are Leases) of
the undersigned to the Obligors, insurers or any other person in connection
with the Case Purchased Contracts, Receivables Files, any insurance
policies or any agreement or instrument relating to any of them.

         This Case Assignment is made pursuant to and upon the
representations, warranties and agreements on the part of the undersigned
contained in the Case Purchase Agreement and is to be governed in all
respects by the Case Purchase Agreement.

         Capitalized terms used herein and not otherwise defined shall have
the meanings assigned to them in the Case Purchase Agreement.

                                     24

<PAGE>

         IN WITNESS WHEREOF, the undersigned has caused this Case
Assignment to be duly executed as of September ___, 2000.

                                CASE CREDIT CORPORATION

                                By: ___________________________________
                                   Name:
                                   Title:

                                     25

<PAGE>

                                                                       EXHIBIT B
                                                      to Case Purchase Agreement

                                  FORM OF
                    CASE SUBSEQUENT TRANSFER ASSIGNMENT
                    -----------------------------------

         For value received, in accordance with and subject to the Case
Purchase Agreement dated as of September 1, 2000 (the "Case Purchase
Agreement"), between Case Credit Corporation, a Delaware corporation
("Case Credit"), and CNH Capital Receivables Inc., a Delaware corporation
("CNHCR"), Case Credit does hereby sell, transfer, assign, set over and
otherwise convey to CNHCR, without recourse, all of its right, title,
interest and, with respect to any Contracts that are Leases, obligations
in, to and under: (a) the Subsequent Case Receivables, with an aggregate
Contract Value equal to $_______________, listed on Schedule A hereto,
including all documents constituting chattel paper included therewith, and
all obligations of the Obligors thereunder, including all moneys paid
thereunder on or after the Subsequent Cutoff Date, (b) the security
interests in the Financed Equipment granted by Obligors pursuant to such
Subsequent Case Receivables and any other interest of Case Credit in such
Financed Equipment, (c) any proceeds with respect to such Subsequent Case
Receivables from claims on insurance policies covering Financed Equipment
or Obligors, (d) any proceeds from recourse to Dealers with respect to such
Subsequent Case Receivables other than any interest in the Dealers' reserve
accounts maintained with Case Credit, (e) any Financed Equipment that shall
have secured any such Subsequent Case Receivables and that shall have been
acquired by or on behalf of CNHCR, (f) any True Lease Equipment that is
subject to any Subsequent Case Receivable, and (g) the proceeds of any and
all of the foregoing. The foregoing sale does not constitute and is not
intended to result in any assumption by CNHCR of any obligation (other than
the covenant of quiet enjoyment benefitting the Obligors under any
Contracts that are Leases) of Case Credit to the Obligors, insurers or any
other person in connection with such Subsequent Case Receivables,
Receivable Files, any insurance policies or any agreement or instrument
relating to any of them.

         This Case Subsequent Transfer Assignment is made pursuant to and
upon the representations, warranties and agreements on the part of Case
Credit contained in the Case Purchase Agreement (including the Officers'
Certificate of Case Credit accompanying this Agreement) and is to be
governed in all respects by the Case Purchase Agreement.

         Capitalized terms used but not otherwise defined herein shall have
the meanings assigned to them in the Case Purchase Agreement.

                                     26

<PAGE>

         IN WITNESS WHEREOF, the undersigned has caused this Case
Subsequent Transfer Assignment to be duly executed as of the __ day of
September, 2000.

                                CASE CREDIT CORPORATION

                                By: _____________________________________
                                    Name:   James S.  Broenen
                                    Title:  Senior Vice President &
                                            Chief Financial Officer

                                     27

<PAGE>

                                                                      SCHEDULE A
                                          to Case Subsequent Transfer Assignment

                  SCHEDULE OF SUBSEQUENT CASE RECEIVABLES

                            [See attached list]

                                     28

<PAGE>

                                                                         ANNEX A
                                          to Case Subsequent Transfer Assignment

                           OFFICERS' CERTIFICATE
                           ---------------------

         We, the undersigned officers of Case Credit Corporation (the
"Company"), do hereby certify, pursuant to Section 4.1(b)(xiii) of the Case
Purchase Agreement dated as of September 1, 2000, among the Company, and
CNH Capital Receivables Inc. (the "Case Purchase Agreement"), that all of
the conditions precedent to the transfer to CNHCR of the Subsequent Case
Receivables listed on Schedule A to the Case Subsequent Transfer Assignment
delivered herewith, and the other property and rights related to such
Subsequent Case Receivables as described in Section 2.2 of the Case
Purchase Agreement, have been satisfied on or prior to the related
Subsequent Transfer Date.

         Capitalized terms used but not defined herein shall have the
meanings assigned to such terms in the Case Purchase Agreement.

         IN WITNESS WHEREOF, the undersigned have caused this certificate
to be duly executed this ___ day of ___________, _____.

                                By: _______________________________________
                                   Name: __________________________________
                                   Title: _________________________________

                                By: _______________________________________
                                   Name: __________________________________
                                   Title: _________________________________

                                     29

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