Document:

EX-4.1

EXHIBIT 4.1

FIRST AMENDMENT TO

FIFTH AMENDED AND RESTATED CREDIT AGREEMENT

This FIRST AMENDMENT, dated as of July 27, 2016 (this “Amendment”), is to the Fifth
Amended and Restated Credit Agreement (as heretofore amended, the “Credit Agreement”) dated
as of May 1, 2015 among PENSKE AUTOMOTIVE GROUP, INC., a Delaware corporation (the
“Company”), various financial institutions party thereto (the “Lenders”) and
MERCEDES-BENZ FINANCIAL SERVICES USA LLC, as agent for the Lenders (the “Agent”). Unless
otherwise defined herein, terms defined in the Credit Agreement are used herein as defined in the
Credit Agreement (including as amended hereby).

WHEREAS, the parties hereto desire to amend the Credit Agreement in certain respects;

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

SECTION 1 AMENDMENTS. Effective on the Amendment Effective Date (defined below), the
Credit Agreement shall be amended as follows:

1.1 Section 1.1 of the Credit Agreement shall be amended by adding the following new
definition in the appropriate alphabetical order:

First Amendment Effective Date means July 27, 2016.

1.2 Section 1.1 of the Credit Agreement shall be amended by deleting the definition of
“Average Annual Dividend” in its entirety.

1.3 Section 1.1 of the Credit Agreement shall be amended by amending and restating clause (h)
of the definition of “Borrowing Base” in its entirety to read as follows:

(h) an amount equal to 50% of the Eligible Tangible Net Worth of PTL.

1.4 Section 1.1 of the Credit Agreement shall be amended by amending and restating the
definition of “Eligible Tangible Net Worth” in its entirety to read as follows:

Eligible Tangible Net Worth means, with respect to PTL, as of any date of
determination, an amount equal to the product of (x) the Stockholders’ Equity of PTL on that
date less Intangible Assets of PTL on that date times (y) the then outstanding
ownership percentage of the Company in PTL.

1.5 Section 1.1 of the Credit Agreement shall be amended by amending the definition of
“Interest Rate” by adding the follow language to the end thereof:

; provided that, if the LIBO Rate hereunder would be less than zero, such rate shall be
deemed to be zero for purposes of this Agreement.

1.6 Section 1.1 of the Credit Agreement shall be amended by amending and restating the
definition of “Subordinated Notes” in its entirety to read as follows:

Subordinated Notes means (i) the 5.75% Senior Subordinated Notes due 2022 of the
Company (and related guarantees) in the aggregate principal amount of $550,000,000, (ii) the
5.375% Senior Subordinated Notes due 2024 of the Company (and related guarantees) in the
aggregate principal amount of $300,000,000 and (iii) the 5.5% Senior Subordinated Notes due
2026 of the Company (and related guarantees) in the aggregate principal amount of
$500,000,000.

1.7 Section 1.1 of the Credit Agreement shall be amended by amending and restating the
definition of “Termination Date” in its entirety to read as follows:

Termination Date means the earlier to occur of (a) September 30, 2019 (or any later
date that may be established as the Termination Date pursuant to Section 2.5) or
(b) such other date on which the Commitments terminate pursuant to Section 6 or
11.

1.8 Section 9.10(g) of the Credit Agreement shall be amended and restated in its entirety to
read as follows:

“(g) the Company and its Subsidiaries may enter into, or make additional Investments into,
joint ventures permitted by Section 9.19(j) which joint ventures are engaged in businesses
permitted by Section 9.18 ”

1.9 Section 9.12(a) of the Credit Agreement shall be amended and restated in its entirety to
read as follows:

(a) Use the proceeds of the Revolving Loans solely for working capital, for Acquisitions
permitted by Section 9.10, for Capital Expenditures, to make Investments permitted
hereunder, to repurchase the Company’s Capital Stock and for other general corporate
purposes; provided, that the Company shall not use more than $150,000,000 in the aggregate
of the Revolving Loans from and after the First Amendment Effective Date through the
Termination Date directly or indirectly for Investments outside of the United States
including, without limitation, for Foreign Investments and Investments in Foreign
Subsidiaries; and use the proceeds of the Acquisition Loans (other than Acquisition Loans
made by operation of Section 1.3(iv)) solely to finance Acquisitions (other than
Foreign Acquisitions) permitted by Section 9.10.

1.10 Clause (j) of Section 9.19 of the Credit Agreement shall be amended and restated in its
entirety to read as follows:

(j) Investments in an aggregate not to exceed 38.92% of the outstanding
ownership interests in PTL;

SECTION 2 REPRESENTATIONS AND WARRANTIES. The Company represents and warrants to
the Agent and the Lenders that: (a) the representations and warranties made in Section 8
of the Credit Agreement are true and correct on and as of the date hereof with the same effect as
if made on and as of the date hereof (except to the extent relating solely to an earlier date, in
which case they were true and correct as of such earlier date); (b) no Event of Default or
Unmatured Event of Default exists or will result from the execution of this Amendment; (c) no event
or circumstance has occurred since the Effective Date that has resulted, or would reasonably be
expected to result, in a Material Adverse Effect; (d) the execution and delivery by the Company of
this Amendment and the performance by the Company of its obligations under the Credit Agreement as
amended hereby (as so amended, the “Amended Credit Agreement”) (i) are within the corporate
powers of the Company, (ii) have been duly authorized by all necessary corporate action, (iii) have
received all necessary approval from any governmental authority and (iv) do not and will not
contravene or conflict with any provision of any law, rule or regulation or any order, decree,
judgment or award which is binding on the Company or any of its Subsidiaries or of any provision of
the certificate of incorporation or bylaws or other organizational documents of the Company or of
any agreement, indenture, instrument or other document which is binding on the Company or any of
its Subsidiaries; and (e) the Amended Credit Agreement is the legal, valid and binding obligation
of the Company, enforceable against the Company in accordance with its terms, except as
enforceability may be limited by applicable bankruptcy, insolvency or similar laws affecting the
enforcement of creditors’ rights generally or by equitable principles relating to enforceability.

SECTION 3 CONDITIONS TO EFFECTIVENESS. The amendments set forth in Section 1
above shall become effective as of the date when the following conditions precedent have been
satisfied, each in form and substance satisfactory to the Agent (the “Amendment Effective
Date”):

3.1 Amendment. The Agent shall have received a counterpart of this Amendment duly
executed by the Company and the Required Lenders (or, in the case of any party other than the
Company from which the Agent has not received a counterpart hereof, facsimile confirmation of the
execution of a counterpart hereof by such party).

3.2 Reaffirmation. The Agent shall have received a counterpart of the Reaffirmation
of Loan Documents, in form and substance satisfactory to the Agent, executed by each Loan Party
other than the Company.

3.3 No Default. No Event of Default or Unmatured Event of Default shall have occurred
and be continuing or would result from the transactions contemplated by this Amendment.

3.4 Representations. The representations and warranties of the Company and each
Subsidiary set forth in the Credit Agreement and the other Loan Documents shall be true and correct
in all material respects with the same effect as if then made (except to the extent stated to
relate to a specific earlier date, in which case such representations and warranties shall be true
and correct as of such earlier date).

3.5 Compliance Certificate. The Agent shall have received a duly completed compliance
certificate in the form of Exhibit B to the Credit Agreement, with appropriate insertions, dated as
of the Amendment Effective Date and signed by the Chief Financial Officer or the Controller of the
Company, containing a pro forma computation of the financial ratios and restrictions set forth in
Section 9.6 of the Credit Agreement.

3.6 Borrowing Base Certificate. The Agent shall have received a Borrowing Base
Certificate dated as of the Amendment Effective Date and signed by the Chief Financial Officer or
the Controller of the Company containing a pro forma calculation of the Borrowing Base.

3.7 Confirmatory Certificate. The Agent shall have received a certificate dated the
Amendment Effective Date and signed by a duly authorized representative of the Company as to the
matters set forth in Sections 3.3 and 3.4.

SECTION 4 MISCELLANEOUS.

4.1 Continuing Effectiveness, etc. As hereby amended, the Credit Agreement shall
remain in full force and effect and is hereby ratified and confirmed in all respects. All
references in the Credit Agreement, the Notes, each other Loan Document and any similar document to
the “Credit Agreement” or similar terms shall refer to the Amended Credit Agreement.

4.2 Counterparts. This Amendment may be executed in any number of counterparts and by
the different parties on separate counterparts, and each such counterpart shall be deemed to be an
original but all such counterparts shall together constitute one and the same Amendment.

4.3 Expenses. The Company agrees to pay the reasonable costs and expenses of the
Agent and the Lenders in connection with the preparation, execution and delivery of this Amendment.

4.4 Severability of Provisions. In the event that any provision in or obligation
under this Amendment shall be invalid, illegal or unenforceable in any jurisdiction, the validity,
legality and enforceability of the remaining provisions or obligations, or of such provision or
obligation in any other jurisdiction, shall not in any way be affected or impaired thereby.

4.5 Section Headings. The various headings of this Amendment are inserted for
convenience only and shall not affect the meaning or interpretation of this Amendment or the
Agreement or any provision hereof or thereof.

4.6 Governing Law. This Amendment shall be a contract made under and governed by the
laws of the State of New York applicable to contracts made and to be wholly performed within the
State of New York.

4.7 Successors and Assigns. This Amendment shall be binding upon the Company, the
Lenders and the Agent and their respective successors and assigns, and shall inure to the benefit
of the Company, the Lenders and the Agent and the successors and assigns of the Lenders and the
Agent.

4.8 Loan Document. This Amendment is a Loan Document.

[Signatures Immediately Follow]

Delivered as of the day and year first above written.

PENSKE AUTOMOTIVE GROUP, INC.

By: /s/ J.D. Carlson

Name: J.D. Carlson

Title: EVP and CFO

MERCEDES-BENZ FINANCIAL SERVICES USA LLC, as Agent

and as a Lender

By: /s/ Michele Nowak

Name: Michele Nowak

Title: Credit Director, National Accounts

TOYOTA MOTOR CREDIT CORPORATION,

as a Lender

By: /s/ Willemien Steensma

Name: Willemien Steensma

Title: National Accounts ManagerEX-10.1

Exhibit 10.1

Execution Copy

AGREEMENT OF PURCHASE AND SALE

dated as of July 27, 2016

by and among

GE CAPITAL TRUCK LEASING HOLDING LLC, and

LOGISTICS HOLDING LLC,

as Sellers,

and

PENSKE AUTOMOTIVE GROUP, INC.,

as Purchaser

AGREEMENT OF PURCHASE AND SALE

This Agreement of Purchase and Sale, dated as of July 27, 2016 (as amended, restated,
supplemented or otherwise modified from time to time in accordance with the terms hereof, this
“Agreement”), is by and among GE Capital Truck Leasing Holding LLC, a Delaware limited liability
company (“GE Capital Truck”), Logistics Holding LLC, a Delaware limited liability company (“GE
Logistics” and together with GE Capital Truck, the “Sellers” and each a “Seller”), and Penske
Automotive Group, Inc., a Delaware corporation (“Purchaser”). The Sellers and Purchaser are
sometimes referred to herein individually as a “Party” and collectively as the “Parties”.

WHEREAS, the Sellers collectively own 29.9% of the issued and outstanding Partnership
Interests in Penske Truck Leasing Co., L.P., a Delaware limited partnership (the “Partnership”);

WHEREAS, on the date hereof, Purchaser desires to purchase from the Sellers, and the Sellers
desire to sell to Purchaser, the Purchased Interests set forth opposite each Seller’s name on
Exhibit A attached hereto (representing, in the aggregate, 14.4% of the outstanding
Partnership Interests in the Partnership), upon the terms and subject to the conditions set forth
in this Agreement;

WHEREAS, concurrently with the execution and delivery of this Agreement and the consummation
of the Closing (as defined herein) on the date hereof, GE Capital Global Holdings, LLC has executed
and delivered to Purchaser a guaranty of performance of the obligations of the Sellers under this
Agreement; and

WHEREAS, concurrently with the execution and delivery of this Agreement, and in connection
with the Closing, the Parties, the other Partners under (and as defined in) the Existing
Partnership Agreement and the Partnership are entering into a Cooperation Agreement (the
“Cooperation Agreement”) and a Sixth Amended and Restated Limited Partnership Agreement of the
Partnership, in each case, dated as of the date hereof.

NOW, THEREFORE, in consideration of the mutual agreements, covenants, representations,
warranties and indemnities contained in this Agreement, Purchaser and each Seller hereby agree as
follows:

ARTICLE I

DEFINITIONS

For purposes of this Agreement, the following terms shall have the respective meanings set
forth below:

“Actions or Proceedings” has the meaning as defined in Section 8.9.

“Agreement” has the meaning as defined in the preamble.

“Affiliate” means, with respect to any Person, any other Person that, directly or indirectly
through one or more intermediaries, controls, or is controlled by, or is under common control with,
such Person, and the term “control” (including the terms “controlled by” and “under common control
with”) means the possession, directly or indirectly, of the power to direct or cause the direction
of the management and policies of such Person, whether through ownership of voting securities, by
Contract or otherwise; provided, however, that, for purposes of this Agreement and the Transaction
Documents, no Seller shall be deemed to be an Affiliate of the Partnership, or any Partner (as
defined in the Existing Partnership Agreement), other than the other Sellers.

“Approvals” means, with respect to any Purchased Interest, all Consents required pursuant to
the terms of the Existing Partnership Agreement with respect to the transactions contemplated by
this Agreement and the admission of Purchaser as a limited partner with respect to the Purchased
Interests.

“Assignment Agreement” means that certain Assignment Agreement, dated as of the date hereof,
by and between the Sellers and Purchaser.

“Business Day” means any day other than a Saturday, a Sunday or a day on which banking
institutions in New York, New York, are authorized or obligated by Law to be closed.

“Closing” has the meaning as defined in Section 6.1.

“Closing Date” has the meaning as defined in Section 6.1.

“Code” means the United States Internal Revenue Code of 1986, as amended.

“Consent” means any consent, approval, authorization or waiver.

“Contract” means any legally binding: contract, indenture, note, bond, lease, license,
instrument, agreement, mortgage, option, warranty, purchase order, insurance policy or benefit
plan, or other commitment, whether written or oral.

“Controlling Party” has the meaning as defined in Section 7.4(b).

“Dispute Notice” has the meaning as defined in Section 2.4(b).

“E&Y” has the meaning as defined in Section 2.4(c).

“Effective Time” means 12:01 a.m. Eastern Time on the Closing Date.

“Existing Partnership Agreement” means the Fifth Amended and Restated Agreement of Limited
Partnership of the Partnership entered into on and as of March 18, 2015, as amended on November 24,
2015 and as modified in and pursuant to an LPA Acknowledgement Agreement, dated as of March 31,
2016.

“Final Purchase Price” means an amount in U.S. Dollars equal to the Initial Purchase Price, as
adjusted in accordance with the provisions of Sections 2.4 and 2.5.

“Final Purchase Price Statement” means a written statement (a) setting forth the Final
Purchase Price and (b) indicating any changes to the Initial Purchase Price Statement, as finally
determined in accordance with Section 2.4.

“GAAP” means generally accepted accounting principles in the United States.

“GE Capital Truck” has the meaning as defined in the preamble.

“GE Logistics” has the meaning as defined in the preamble.

“GE Tennessee” means General Electric Credit Corporation of Tennessee, a Tennessee
corporation.

“Government Authority” means any U.S. federal, state or local or any supra-national or
non-U.S. government, political subdivision, governmental, regulatory or administrative authority,
instrumentality, agency, body or commission, self-regulatory organization or any court, tribunal,
or judicial or arbitral body.

“Indemnified Party” has the meaning as defined in Section 7.4(a).

“Indemnifying Party” has the meaning as defined in Section 7.4(a).

“Independent Accounting Firm” has the meaning as defined in Section 2.4(c).

“Initial Period” means the period commencing on the opening of business on January 1, 2016 and
ending on the close of business on May 31, 2016.

“Initial Purchase Price” means an amount in U.S. Dollars equal to the sum of (x)
$486,421,404.68 plus (y) the Partnership’s good faith estimate of the Partnership Net
Income Amount, as notified to the Sellers and Purchaser pursuant to Section 2.3.

“Initial Purchase Price Statement” means the Partnership’s good faith estimate of the Initial
Purchase Price, described in accordance with Section 2.3 hereof.

“Interim Period” means the period commencing on the opening of business on June 1, 2016 and
ending on (and excluding) the Closing Date.

“Interim Period Distributions” means the sum of (i) the aggregate amount of any Preliminary
Distributions made pursuant to Section 5.1(a) of the Existing Partnership Agreement (as defined
therein), plus (ii) the aggregate amount of any discretionary special distributions made pursuant
to Section 5.1(c) of the Existing Partnership Agreement, in the case of each of clauses (i) and
(ii), solely to the extent the same are distributions of Net Income for, and with respect to, the
Interim Period.

“Law” means any U.S. federal, state, local or non-U.S. statute, law, ordinance, regulation,
rule, code, order or other requirement or rule of law (including common law).

“Liability” or “Liabilities” means any liability, debt, guarantee, claim, demand, expense,
commitment or obligation (whether direct or indirect, absolute or contingent, accrued or unaccrued,
liquidated or unliquidated, or due or to become due) of every kind and description, including all
costs and expenses related thereto.

“Lien” means any lien, mortgage, pledge, claim, security interest, encumbrance, charge,
option, right of first refusal, proxy, voting trust or agreement, restriction or limitation of any
kind, whether arising by agreement, operation of law or otherwise.

“Losses” means all losses, damages, costs, expenses, and Liabilities actually suffered or
incurred and paid (including reasonable attorneys’ fees).

“Net Income” means, for any specified period, the consolidated net income of the Partnership
and its Subsidiaries (which may be positive or negative), determined on a consolidated basis in
accordance with GAAP and in a manner consistent with past practice of the Partnership. For the
avoidance of doubt, the consolidated net income for the period covered in any of the Partnership
Financial Statements is reflected therein as “Net Earnings” of the Partnership and its
Subsidiaries.

“Order” means any order, writ, judgment, injunction, temporary restraining order, decree,
stipulation, determination or award entered by or with any Government Authority.

“Organizational Documents” means (i) any certificate, articles or memorandum filed with any
state or country or other jurisdiction which filing forms a Person and (ii) all agreements,
documents or instruments governing the internal affairs of a Person, including such Person’s
by-laws, codes of regulations, partnership or limited partnership agreements, limited liability
company agreements and operating agreements.

“Parties” has the meaning as defined in the preamble.

“Partnership” has the meaning as defined in the recitals.

“Partnership Interests” has the meaning set forth in the Existing Partnership Agreement.

“Partnership Financial Statements” means the financial statements of the Partnership provided
pursuant to Section 2.02(a)(x) of the Cooperation Agreement.

“Partnership Net Income Amount” means (i) one quarter of 14.4% of the Net Income for the
Initial Period, plus (ii) 14.4% of the Net Income for the Interim Period, minus (iii) the aggregate
amount (if any) of 14.4% of the Interim Period Distributions. For the avoidance of doubt, for
purposes of the Final Purchase Price Statement, the Net Income for the portion of the month of the
Closing included in the Interim Period shall be equal to (A) the Net Income for the month of the
Closing, multiplied by (B) a fraction the numerator of which is the number of calendar days of the
month of the Closing that are included in the Interim Period and the denominator of which is the
total number of calendar days in the month of the Closing.

“Permits” means all permits, licenses, Consents, registrations, concessions, grants,
franchises, certificates, identification numbers, exemptions, waivers, and filings issued or
required by any Government Authority under applicable Law.

“Person” means any individual, corporation, partnership, limited liability company, joint
venture, association, joint-stock company, trust, unincorporated organization or Government
Authority.

“Preliminary Distributions” has the meaning as defined in the Existing Partnership Agreement.

“Purchase Price Statements” means the Initial Purchase Price Statement and the Final Purchase
Price Statement.

“Purchased Interests” means the limited partnership interests in the Partnership set forth on
Exhibit A attached hereto.

“Purchaser” has the meaning as defined in the preamble.

“Purchaser Indemnified Parties” has the meaning as defined in Section 7.2(a).

“Purchaser’s Knowledge” means the actual knowledge of the Chief Financial Officer of Purchaser
as of the date hereof.

“PwC” has the meaning as defined in Section 2.4(c).

“Registration Rights Agreement” means the Amended and Restated Registration Rights Agreement,
dated March 18, 2015, by and among the Partnership, Penske Truck Leasing Corporation, PTL, GP, LLC,
Purchaser, MBK USA Commercial Vehicles Inc., MBK Commercial Vehicles Inc., and the Sellers.

“Representative” means, with respect to any Person, any officer, director, principal, manager,
member, attorney, accountant, agent, employee, consultant, financial advisor or other authorized
representative of such Person, in each case, in such capacity with respect to such Person.

“Resolution Period” has the meaning as defined in Section 2.4(b).

“Retained Rights” means the rights of any Seller to the Interim Period Distributions actually
paid to and received by the Sellers prior to the date hereof.

“Review Period” has the meaning as defined in Section 2.4(a).

“Seller Indemnified Parties” has the meaning as defined in Section 8.3.

“Sellers’ Knowledge” means the actual knowledge of Trevor Schauenberg and Mandeep Johar.

“Sellers” has the meaning as defined in the preamble.

“Subsidiaries” of any specified entity means any other entity (a) of which such first entity
owns (either directly or through one or more other Subsidiaries) (i) at least a majority of the
outstanding equity securities or (ii) equity interests or securities carrying a majority of the
voting power to elect a majority of the board of directors or other governing body of such entity
or (b) which such first entity contractually or otherwise controls.

“Tax” means: (a) any income, gross or net receipts, real or personal property, sales, use,
capital gain, transfer, excise, estimated, license, production, franchise, employment, social
security, occupation, payroll, registration, governmental pension or insurance, withholding,
royalty, severance, stamp or documentary, value added, business or occupation or other tax, charge,
assessment, duty, levy, fee or similar governmental charge of any kind (including any interest,
additions to tax, or civil or criminal penalties thereon) of any country or any jurisdiction
therein; (b) any liability for the payment of any amounts of the type described in clause (a) of
this definition arising as a result of being (or ceasing to be) a member of any affiliated group
(or being included (or required to be included) in any tax return relating thereto); or (c) any
liability for the payment of any amounts of the type described in clause (a) of this definition as
a result of any express or implied obligation to indemnify or otherwise assume or succeed to the
liability of any other Person, arising under law, by contract or otherwise.

“Tax Return” means any return, declaration, report, claim for refund, or information return or
statement or other form required to be supplied to a Government Authority in connection with Taxes,
including any schedule or attachment thereto, and including any amendment thereof.

“Third Party Claim” has the meaning as defined in Section 7.4(a).

“Transaction Documents” means the Assignment Agreement and the Cooperation Agreement.

“Transaction Material Adverse Effect” means a material impairment of the ability of Purchaser
to perform its material obligations under this Agreement or to consummate the transactions
contemplated by this Agreement and the Transaction Documents.

“Transfer Restrictions” means any restriction on the sale, assignment, transfer or other
disposition of a Purchased Interest (including the creation of a Lien (as defined in the Existing
Partnership Agreement)) that arises out of or is based on, (i) the Existing Partnership Agreement
or applicable securities or blue sky Laws, or (ii) any Contracts to which Purchaser is a party or
bound, or any Laws to which Purchaser is subject, including any Liens created by or through
Purchaser.

1.1 Other Definitional and Interpretive Matters. Unless otherwise expressly provided,
for purposes of this Agreement, the following rules of interpretation shall apply:

Subsidiaries. For preclusion of doubt, the Partnership and its Subsidiaries shall not be
deemed to be Subsidiaries or Affiliates of General Electric Company, the Sellers or any of their
respective Subsidiaries for purposes of this Agreement.

Exhibits/Schedules. The Exhibits and Schedules are hereby incorporated herein and made a
part hereof and are an integral part of this Agreement.  Any capitalized terms used in any
Exhibit or in any Schedules but not otherwise defined therein shall be defined as set forth in
this Agreement.

Gender and Number. Any reference in this Agreement to gender shall include all genders,
and words imparting the singular number only shall include the plural and vice versa.

Headings. The division of this Agreement into Articles, Sections and other subdivisions
and the insertion of headings are for convenience of reference only and shall not affect or be
utilized in construing or interpreting this Agreement.  All references in this Agreement to any
“Section” are to the corresponding Section of this Agreement unless otherwise specified.

Herein. The words such as “herein,” “hereinafter,” “hereof,” and “hereunder” refer to this
Agreement as a whole and not merely to a subdivision in which such words appear unless the
context otherwise requires.

Including. The word “including” or any variation thereof means (unless otherwise
specified) “including, without limitation,” and shall not be construed to limit any general
statement that it follows to the specific or similar items or matters immediately following it.

ARTICLE II

PURCHASE AND SALE OF PURCHASED

INTERESTS; ASSUMPTION OF OBLIGATIONS

2.1 Purchase and Sale of Purchased Interests. Upon the terms and subject to the
conditions set forth in this Agreement, at the Closing, the Sellers shall sell, assign, transfer
and deliver to Purchaser, and Purchaser shall purchase and acquire from each Seller, all of such
Seller’s right, title and interest in and to the Purchased Interests, free and clear of all Liens
other than any Transfer Restrictions (it being agreed that in no event are the Sellers’
transferring to Purchaser hereunder any Retained Rights).

2.2 Purchase Price. In consideration for the Purchased Interests being transferred to
Purchaser pursuant to Section 2.1, Purchaser shall pay to GE Tennessee, for the benefit of
the Sellers, an amount equal to the Final Purchase Price.

2.3 Initial Purchase Price Statement. On or prior to the Closing Date the Partnership
has delivered to the Sellers and Purchaser the Initial Purchase Price Statement setting forth the
Partnership’s good faith estimate of the Initial Purchase Price, including a statement therein
setting forth the estimated Partnership Net Income Amount.

2.4 Final Purchase Price Calculation.

(a) The Parties shall each have sixty (60) days (the “Review Period”) after the delivery by
the Partnership of the actual Partnership Net Income Amount pursuant to Section 2.02(a)(y) of the
Cooperation Agreement (the “Proposed Net Income Statement”). During the Review Period, the Parties
and their Representatives, subject to, and in accordance with, the terms of the Cooperation
Agreement, may review the Partnership’s work papers, all books and records of the Partnership and
its Affiliates relevant to the preparation of the Proposed Net Income Statement, and the work
papers of the Partnership’s accountants relating to such accountants’ review of the Proposed Net
Income Statement.

(b) If either Party wishes to dispute any item set forth in the Proposed Net Income Statement,
such Party shall, during the Review Period, deliver written notice to the other Party of the same,
specifying in reasonable detail the basis for such dispute and such Party’s proposed modifications
to the Proposed Net Income Statement (such notice, the “Dispute Notice”). If any Dispute Notice is
so delivered during the Review Period, following each delivery of a Dispute Notice until the
30th day immediately following the Review Period (the “Resolution Period”), the Sellers
and Purchaser shall negotiate in good faith to reach an agreement as to any matters identified in
such Dispute Notice as being in dispute, and, to the extent all such matters are so resolved within
the Resolution Period, then the Proposed Net Income Statement as revised to incorporate such
changes as have been agreed between the Sellers and Purchaser shall be conclusive and binding upon
all Parties as the Final Purchase Price Statement.

(c) If the Sellers and Purchaser fail to resolve all such matters in dispute within the
Resolution Period, then (subject to the last sentence of Section 2.4(d)) any matters
identified in any such Dispute Notice that remain in dispute following the expiration of the
Resolution Period shall be finally and conclusively determined by PricewaterhouseCoopers LLP, a
Delaware limited liability partnership (“PwC”), or if PwC is unable or unwilling to serve in such
capacity, Ernst & Young LLP, a Delaware limited liability partnership (“E&Y”) (and if both PwC and
E&Y are unable or unwilling to serve in such capacity, such other globally recognized accounting
firm as shall be agreed upon in writing by Purchaser and the Sellers) (the “Independent Accounting
Firm”).

(d) The Sellers and Purchaser shall instruct the Independent Accounting Firm to promptly, but
no later than forty (40) days after its acceptance of its appointment, determine (it being
understood that in making such determination, the Independent Accounting Firm shall be functioning
as an expert and not as an arbitrator), based solely on written presentations of the Sellers and
Purchaser submitted to the Independent Accounting Firm and not by independent review, only those
matters in dispute and shall render a written report setting forth its determination as to the
disputed matters and the resulting calculations of the Final Purchase Price, which report and
calculations shall be conclusive and binding upon all Parties absent manifest error. A copy of all
materials submitted to the Independent Accounting Firm pursuant to the immediately preceding
sentence shall be provided by Purchaser or the Sellers, as applicable, to the other Party
concurrently with the submission thereof to the Independent Accounting Firm. In resolving any
disputed item, the Independent Accounting Firm (i) shall be bound by the provisions of this
Section 2.4(d) and Section 2.6 and (ii) may not assign a value to any item greater
than the greatest value for such item claimed by the Sellers or Purchaser, or less than the
smallest value for such item claimed by the Sellers or Purchaser. If, before the Independent
Accounting Firm renders its determination with respect to the disputed items in accordance with
this Section 2.4(d), (x) Purchaser notifies the Sellers of its agreement with any items in
the Proposed Net Income Statement or (y) the Sellers notify Purchaser of their agreement with any
items in the Proposed Net Income Statement, then in each case, such items as so agreed shall be
conclusive and binding on all Parties immediately upon such notice.

(e) The fees and expenses of the Independent Accounting Firm shall be borne fifty percent
(50%) by Purchaser and fifty percent (50%) by the Sellers.

2.5 Post-Closing Adjustment. In the event that (i) the Final Purchase Price is
greater than the Initial Purchase Price, Purchaser shall pay to GE Tennessee, for the benefit of
the Sellers, an amount equal to such difference or (ii) the Initial Purchase Price is greater than
the Final Purchase Price, GE Tennessee, on behalf of the Sellers, shall pay to Purchaser an amount
equal to such difference. Any payment due under this Section 2.5 shall be paid by wire
transfer of immediately available funds to an account designated by GE Tennessee to Purchaser, or
an account designated by Purchaser to GE Tennessee, as applicable, within three Business Days after
the date on which the Final Purchase Price Statement becomes conclusive and binding on the Parties
in accordance with the provisions of Section 2.4.

2.6 Certain Calculation Principles. The Purchase Price Statements shall be prepared
and determined from the books and records of the Partnership (as provided or made available by the
Partnership) in accordance with GAAP, consistent with past practice.

ARTICLE III

REPRESENTATIONS AND WARRANTIES OF THE SELLERS

Each Seller hereby represents and warrants to Purchaser, on a joint and several basis, as set
forth below:

3.1 Organization, Authority; Binding Agreement.

(a) Each Seller is duly organized, validly existing, and in good standing under the laws of
its state of organization and has the requisite power and authority to own and hold its properties
and to conduct its business as now owned, held, and conducted in its jurisdiction of organization
and, in all material respects, in the other jurisdictions in which it is required to register or
qualify to do business. Each Seller has the requisite power and authority to enter into and to
perform its obligations under this Agreement and the Transaction Documents to which it is a party.
The execution, delivery and performance by each Seller of this Agreement and the Transaction
Documents to which it is a party have been duly authorized by all necessary action on the part of
such Seller.

(b) This Agreement has been, and each of the Transaction Documents to be executed and
delivered by each Seller will be, duly executed and delivered by such Seller, and this Agreement
is, and each of the Transaction Documents to be executed and delivered by such Seller, when duly
executed and delivered by all parties whose execution and delivery thereof is required, shall be,
the legal, valid, and binding obligations of such Seller, enforceable against such Seller in
accordance with their respective terms, except to the extent that enforceability may be limited by
bankruptcy, insolvency, fraudulent conveyance, receivership, moratorium, conservatorship,
reorganization, or other laws of general application affecting the rights of creditors generally or
by general principles of equity.

3.2 No Conflicts.

(a) Neither the execution and delivery of this Agreement or any Transaction Documents nor the
consummation of the transactions contemplated hereby or thereby will (i) violate, breach, or be in
conflict with any provisions of the Organizational Documents of any Seller, (ii) result in the
creation or imposition of any Lien upon any property, rights or assets of any Seller, (iii)
conflict with, result in a breach of, constitute a default under, result in the acceleration of,
create in any party the right to accelerate, terminate, modify, or cancel, or require any notice
under any Contract to which any Seller is a party or by which any Seller is bound or to which any
of their respective properties or assets is subject, or (iv) violate any Law or Order of any
Government Authority to which any Seller is subject, or by which any of their respective properties
or assets is bound.

(b) No Consent, or Order of, or declaration or filing with, or notification to, any Government
Authority is required on the part of any Seller in connection with the Sellers’ execution and
delivery of this Agreement and the Transaction Documents, the compliance by the Sellers with any of
the provisions hereof and thereof, or the consummation of the transactions contemplated hereby and
thereby, except where the failure to obtain such Consent or Order, or to make such declaration,
filing or notification, would not have, or would not reasonably be expected to have, a material
adverse effect upon any Seller’s ability to consummate the transactions contemplated by this
Agreement and the Transaction Documents.

3.3 Partnership Interests. The Sellers own, of record and beneficially, the
Partnership Interests, free and clear of all Liens other than any Transfer Restrictions. On the
terms and subject to the conditions contained in this Agreement, on the Closing Date, the Sellers
shall transfer and deliver to Purchaser good and valid title to the Partnership Interests, free and
clear of all Liens, other than any Transfer Restrictions.

3.4 Agreements and Commitments. Other than the Existing Partnership Agreement, the
Registration Rights Agreement and this Agreement, no Seller is a party to any Contract with respect
to the Purchased Interests. No Seller is in default, and, to each Seller’s Knowledge, there is no
basis for any valid claim against any Seller of default by such Seller, under the Existing
Partnership Agreement.

3.5 Litigation. As of the date hereof, there are no Actions or Proceedings pending
or, to the Sellers’ Knowledge, threatened against any Seller, at law or in equity, before or by any
Government Authority, which call into question the validity of, or which would reasonably be
expected to prevent the consummation of, the transactions contemplated by this Agreement or the
Transaction Documents.

3.6 Access. The Sellers have been provided full access to financial and other
information about the Partnership’s business and have had the opportunity to ask questions of and
receive answers from the Partnership’s management concerning the business and financial condition
of the Partnership. The Sellers have conducted their own investigation, to the extent that they
determined necessary or desirable, regarding the Partnership and the transactions contemplated by
this Agreement and the Transaction Documents, and have obtained sufficient information from such
independent efforts, relating to both the Partnership and its business, to enable the Sellers to
evaluate the economic merits and risks of the transactions contemplated by this Agreement and the
Transaction Documents, including the sale by the Sellers of the Partnership Interests contemplated
hereby, and the Sellers acknowledge that they have determined to enter into this Agreement and the
Transaction Documents to which they are parties based on such investigation. In deciding to enter
into this Agreement and the Transaction Documents, the Sellers have not relied upon any
representations of Purchaser, the Partnership or any other Person, other than those specifically
set forth in this Agreement and the Transaction Documents, and the Sellers acknowledge that no oral
representations have been made by Purchaser or the Partnership or any representative of any of them
in connection with the transactions contemplated by this Agreement and the Transaction Documents.

3.7 Brokers and Finders. Except as will be discharged in full by (and as will be the
sole responsibility of) the Sellers, no person, firm, corporation or entity acting for or on behalf
of the Sellers is or will be entitled to any broker’s or finder’s fee or any other commission or
similar fee, directly or indirectly, from any parties in connection with any of the transactions
contemplated by this Agreement or the Transaction Documents.

3.8 Withholding. No withholding under Section 1445 of the Code will be required with
respect to any payment made to any Seller pursuant to this Agreement or as a result of the sale of
the Purchased Interests pursuant to this Agreement.

3.9 No Implied Representations. In entering into this Agreement, the Sellers have not
been induced by and have not relied upon any representations, warranties or statements, whether
express or implied, made by Purchaser or any Representative of Purchaser or by any broker or any
other person representing or purporting to represent Purchaser, which are not expressly set forth
in this Agreement or any Transaction Document or such other agreements, documents or instruments
delivered in connection herewith or therewith, whether or not any such representations, warranties
or statements were made in writing or orally. It is understood that, except as otherwise set forth
in the Transaction Documents, any cost or financial estimates or projections contained or referred
to in this Agreement or which otherwise have been provided to the Sellers are not and shall not be
deemed to be representations or warranties of Purchaser. The Sellers acknowledge that (i) there
are uncertainties inherent in attempting to make such estimates and projections, (ii) the Sellers
are familiar with such uncertainties and, other than the representations and warranties set forth
in the Transaction Documents, the Sellers are taking full responsibility for making their own
evaluation of the adequacy and accuracy of all estimates and projections so furnished to it by
Purchaser, and (iii) the Sellers shall have no claim against Purchaser or its Subsidiaries with
respect thereto.

3.10 No Other Representations and Warranties. Except for the representations and
warranties expressly set forth in this Article III or in the Transaction Documents, none of
the Sellers or any other Person has made, makes or shall be deemed to make any other representation
or warranty of any kind whatsoever, express or implied, written or oral, at law or in equity, on
behalf of any Seller or any of its Affiliates, including any representation or warranty regarding
any Seller, the Purchased Interests of such Seller, or any assets or Liabilities of such Seller or
any of its Affiliates, and each Seller hereby disclaims all other representations and warranties of
any kind whatsoever, express or implied, written or oral, at law or in equity.

ARTICLE IV

REPRESENTATIONS AND WARRANTIES OF PURCHASER

	 	 	 	 	 
	Purchaser hereby represents and warrants to the Sellers as set forth below:
	 	4.1	 	 	Organization; Authority; Binding Agreement.

	 	 	 	 	 

(a) Purchaser is duly organized, validly existing, and in good standing under the laws of its
state of incorporation and has the requisite corporate power and authority to own and hold its
properties and to conduct its business as now owned, held, and conducted in its jurisdiction of
incorporation and, in all material respects, in the other jurisdictions in which it is required to
register or qualify to do business. Purchaser has the requisite power and authority to enter into
and to perform its obligations under this Agreement and the Transaction Documents to which it is a
party. The execution, delivery and performance by Purchaser of this Agreement and the Transaction
Documents to which it is a party have been duly authorized and approved by the Board of Directors
of Purchaser, approved by the Special Committee of the Board of Directors of Purchaser, and
approved by all other necessary corporate action on the part of Purchaser.

(b) This Agreement has been, and each of the Transaction Documents to be executed and
delivered by Purchaser will be, duly executed and delivered by Purchaser, and this Agreement is,
and each of the Transaction Documents, when duly executed and delivered by all parties whose
execution and delivery thereof is required, shall be, the legal, valid, and binding obligations of
Purchaser, enforceable against Purchaser in accordance with their respective terms, except to the
extent that enforceability may be limited by bankruptcy, insolvency, fraudulent conveyance,
receivership, moratorium, conservatorship, reorganization, or other laws of general application
affecting the rights of creditors generally or by general principles of equity.

4.2 No Conflicts.

(a) Neither the execution and delivery of this Agreement or any Transaction Documents nor the
consummation of the transactions contemplated hereby or thereby will (i) violate, breach, or be in
conflict with any provisions of the Organizational Documents of Purchaser, (ii) result in the
creation or imposition of any Lien upon any property, rights or assets of Purchaser, (iii) conflict
with, result in a breach of, constitute a default under, result in the acceleration of, create in
any party the right to accelerate, terminate, modify, or cancel, or require any notice under any
Contract to which Purchaser is a party or by which Purchaser is bound or to which any of its
properties or assets is subject, in each case, other than as would not reasonably be expected to
result in a Transaction Material Adverse Effect, nor (iv) violate any Law or Order of any
Government Authority to which Purchaser is subject, or by which any of its properties or assets is
bound.

(b) No Consent, or Order of, or declaration or filing with, or notification to, any Government
Authority is required on the part of Purchaser in connection with Purchaser’s execution and
delivery of this Agreement and the Transaction Documents, the compliance by Purchaser with any of
the provisions hereof and thereof, or the consummation of the transactions contemplated hereby and
thereby, except where the failure to obtain such Consent or Order, or to make such declaration,
filing or notification, would not have, or would not reasonably be expected to have, a Transaction
Material Adverse Effect.

4.3 Purchase for Investment; Accredited Investor. Purchaser is acquiring the
Purchased Interests for Purchaser’s own account, for investment and not with a view to the
distribution or resale thereof, except in compliance with the Securities Act of 1933, as amended,
and applicable securities and blue sky Laws. Purchaser has such knowledge and experience in
financial and business matters and in making investments of the type contemplated by this Agreement
that it is capable of evaluating the merits and risks of purchasing the Purchased Interests.
Purchaser is an “accredited investor” as defined in Rule 501(a) of Regulation D under the
Securities Act of 1933, as amended.

4.4 Access. Purchaser has been provided full access to financial and other
information about the Partnership’s business and has had the opportunity to ask questions of and
receive answers from the Partnership’s management concerning the business and financial condition
of the Partnership. Purchaser has conducted its own investigation, to the extent that it has
determined necessary or desirable, regarding the Partnership and the transactions contemplated by
this Agreement and the Transaction Documents, and has obtained sufficient information from such
independent efforts, relating to both the Partnership and its business, to enable Purchaser to
evaluate the economic merits and risks of the transactions contemplated by this Agreement and the
Transaction Documents, including the purchase by Purchaser of the Partnership Interests
contemplated hereby, and Purchaser acknowledges that it has determined to enter into this Agreement
and the Transaction Documents to which it is a party based on such investigation. In deciding to
enter into this Agreement and the Transaction Documents, Purchaser has not relied upon any
representations of the Sellers, the Partnership or any other Person, other than those specifically
set forth in this Agreement and the Transaction Documents, and Purchaser acknowledges that no oral
representations have been made by the Sellers or the Partnership or any representative of any of
them in connection with the transactions contemplated by this Agreement and the Transaction
Documents.

4.5 No Implied Representations. In entering into this Agreement, Purchaser has not
been induced by and has not relied upon any representations, warranties or statements, whether
express or implied, made by any Seller or any Representative of such Seller or by any broker or any
other person representing or purporting to represent such Seller, which are not expressly set forth
in this Agreement or any Transaction Document or such other agreements, documents or instruments
delivered in connection herewith or therewith, whether or not any such representations, warranties
or statements were made in writing or orally. It is understood that, except as otherwise set forth
in the Transaction Documents, any cost or financial estimates or projections contained or referred
to in this Agreement or which otherwise have been provided to Purchaser are not and shall not be
deemed to be representations or warranties of any Seller. Purchaser acknowledges that (i) there
are uncertainties inherent in attempting to make such estimates and projections, (ii) Purchaser is
familiar with such uncertainties and, other than the representations and warranties set forth in
the Transaction Documents, Purchaser is taking full responsibility for making its own evaluation of
the adequacy and accuracy of all estimates and projections so furnished to it, and (iii) Purchaser
shall have no claim against the Sellers or their Affiliates with respect thereto.

4.6 Litigation. As of the date hereof, there are no Actions or Proceedings pending
or, to Purchaser’s Knowledge, threatened against Purchaser, at law or in equity, before or by any
Government Authority, which call into question the validity of, or which would reasonably be
expected to prevent the consummation of, the transactions contemplated by this Agreement or any
Transaction Documents.

4.7 Brokers and Finders. Except as will be discharged in full by (and as will be the
sole responsibility of) Purchaser, no person, firm, corporation or entity acting for or on behalf
of Purchaser is or will be entitled to any broker’s or finder’s fee or any other commission or
similar fee, directly or indirectly, from any parties in connection with any of the transactions
contemplated by this Agreement or the Transaction Documents.

ARTICLE V

COVENANTS

5.1 Cooperation. Purchaser, on the one hand, and the Sellers, on the other hand,
shall cooperate fully with each other in furnishing any information or performing any action
requested by the other Party which is reasonably necessary to the timely and successful
consummation of the transactions contemplated by this Agreement. Each of the Parties agrees to
execute and deliver such additional documents, certificates and instruments, and to perform such
additional acts, as may be reasonably necessary or appropriate to carry out all of the provisions
of this Agreement and to consummate all the transactions contemplated by this Agreement.

5.2 Tax Matters.

(a) All stamp, transfer, documentary, sales and use, value added, excise, license, filing,
registration and other similar taxes and fees (including any penalties and interest, but excluding
Taxes on income or gain) incurred in connection with the transfer of the Purchased Interests under
this Agreement (collectively, the “Transfer Taxes”) shall be borne equally by the Sellers, on one
hand, and Purchaser, on the other hand. Any Tax Returns and other documentation that must be filed
with respect to Transfer Taxes shall be prepared and filed when due by the party primarily or
customarily responsible under applicable local law for the filing of such Tax Returns or other
documentation, and such party shall use its commercially reasonable efforts to provide drafts of
such Tax Returns and other documentation to the other party at least ten Business Days prior to the
due date for such Tax Returns and other documentation. Such other party shall remit its share of
Transfer Taxes shown on such Tax Returns received at least five Business Days prior to the due date
for such Tax Returns. Each party shall notify the other party if the first party receives any
notice from a Government Authority with respect to Tax Returns filed pursuant to this Section
5.2(a), and the parties shall cooperate with each other in good faith to respond to any such
notice or any other inquiry from a Government Authority.

(b) The Sellers and Purchaser agree that, for the Partnership’s taxable year in which the sale
of the Purchased Interests occurs, they will cooperate in requesting the Partnership to allocate
(and the Partnership has agreed in the Cooperation Agreement to allocate) items of income, gain,
deduction, loss and credit of the Partnership with respect to the Purchased Interests between the
Sellers, on the one hand, and Purchaser, on the other hand, in accordance with an interim closing
of the books of the Partnership as of the end of the day preceding the Closing Date and, if Closing
occurs on a date other than the last calendar day of a month, to determine such items based on
closing of the books at the end of such month of Closing and allocate to the Sellers such items
based on a fraction, the numerator of which is the number of calendar days of such month of Closing
that are included in the Interim Period and the denominator of which is the total number of
calendar days in such month of Closing, and to allocate to Purchaser the remainder. To the extent
the Sellers’ consent may be required under the Existing Partnership Agreement, the Sellers shall
not consent (and shall cause their Affiliates not to consent) to any other method to allocate items
of such income, gain, deduction, losses and credit between the Sellers, on the one hand, and
Purchaser, on the other hand, unless Purchaser consents to such other method in writing, which
consent shall not be unreasonably withheld.

ARTICLE VI

CLOSING

6.1 Closing. The closing of the transactions contemplated by this Agreement (the
“Closing”) shall take place in New York, New York at the offices of Weil, Gotshal & Manges LLP on
the date hereof (the “Closing Date”).

6.2 Sellers’ Closing Deliveries. At Closing, the Sellers shall deliver to Purchaser:

(i) Purchased Interests. With respect to the Purchased Interests being
transferred at the Closing, the Assignment Agreement, duly executed by the Sellers.

(ii) FIRPTA Certificate. A statement, meeting the requirements of Section
1.1445-2(b) of the U.S. Treasury Regulations, to the effect that such Seller is not a
“foreign person” within the meaning of Section 1445 of the Code and the U.S. Treasury
Regulations thereunder.

6.3 Purchaser’s Closing Deliveries. At Closing, Purchaser shall deliver to the
Sellers:

(i) Initial Purchase Price. The Initial Purchase Price by wire transfer of
federal funds or other immediately available funds to an account(s) designated at least
three (3) Business Days prior to the Closing by the Sellers.

(ii) Purchased Interests. With respect to the Purchased Interests being transferred
at the Closing, the Assignment Agreement, duly executed by Purchaser.

ARTICLE VII

INDEMNIFICATION

7.1 Survival. The representations and warranties of the Sellers and Purchaser
contained in or made pursuant to this Agreement shall survive in full force and effect until the
fifth anniversary of the Closing Date, at which time they shall terminate (and no claims shall be
made for indemnification under Sections 7.2 or 7.3 thereafter). None of the
covenants or other agreements contained in this Agreement shall survive the Closing other than the
covenants and agreements that by their terms apply or are to be performed in whole or in part after
the Closing Date, which covenants and agreements shall survive for the period provided in such
covenants and agreements, if any, or until fully performed.

7.2 Indemnification by the Sellers.

(a) From and after the Closing, and subject to the terms of this Agreement, the Sellers shall,
jointly and severally, indemnify and hold harmless Purchaser and its Subsidiaries, and their
respective Representatives, permitted successors and permitted assigns (collectively, the
“Purchaser Indemnified Parties”) against, and reimburse any Purchaser Indemnified Party for, all
Losses that such Purchaser Indemnified Party may suffer or incur, or become subject to, as a result
of:

(i) the breach of any representations or warranties made by any Seller in this Agreement; or

(ii) any breach or failure by any Seller to perform or comply with any of its covenants or
agreements in this Agreement.

(b) Notwithstanding anything in this Agreement to the contrary, the cumulative indemnification
obligation of the Sellers under this Article VII shall in no event exceed the Final
Purchase Price.

7.3 Indemnification by Purchaser.

(a) From and after the Closing, and subject to the terms of this Agreement, Purchaser shall
indemnify and hold harmless General Electric Company and its Subsidiaries (including the Sellers),
and their respective Representatives, permitted successors and permitted assigns (collectively, the
“Seller Indemnified Parties”) against, and reimburse any Seller Indemnified Party for, all Losses
that such Seller Indemnified Party may suffer or incur, or become subject to, as a result of:

(i) the breach of any representations or warranties made by Purchaser in this Agreement; or

(ii) any breach or failure by Purchaser to perform or comply with any of its covenants or
agreements in this Agreement.

(b) Notwithstanding anything in this Agreement to the contrary, the cumulative indemnification
obligation of Purchaser under this Article VII shall in no event exceed the Final Purchase
Price.

7.4 Notification of Claims.

(a) Except as otherwise provided in this Agreement, a Person that may be entitled to be
indemnified under this Agreement (the “Indemnified Party”), shall promptly notify the Party liable
for such indemnification (the “Indemnifying Party”) in writing of any pending or threatened claim,
demand or circumstance that the Indemnified Party has determined has given or would reasonably be
expected to give rise to a right of indemnification under this Agreement (including a pending or
threatened claim or demand asserted by a third party against the Indemnified Party, such claim
being a “Third Party Claim”), describing in reasonable detail the facts and circumstances with
respect to the subject matter of such claim, demand or circumstance; provided, however, that the
failure to provide such notice shall not release the Indemnifying Party from any of its obligations
under this Article VII except to the extent the Indemnifying Party is prejudiced by such
failure, it being understood that notices for claims in respect of a breach of a representation,
warranty, covenant or agreement must be delivered before the expiration of any applicable survival
period specified in Section 7.1 for such representation, warranty, covenant or agreement.

(b) Upon receipt of a notice of a claim for indemnity from an Indemnified Party pursuant to
Section 7.4(a) with respect to any Third Party Claim, the Indemnifying Party shall have the
right (but not the obligation) to assume the defense and control of any Third Party Claim by notice
to the Indemnified Party at any time, unless the failure of the Indemnifying Party to timely assume
the defense of such Third Party Claim would actually and materially prejudice the Indemnified
Party. Prior to any assumption of the defense and control of any Third Party Claim, the
Indemnified Party shall be entitled to conduct the defense of such Third Party Claim as the
Controlling Party (as hereinafter defined). Subject to Section 7.4(d) below, in the event
that the Indemnifying Party shall assume the defense of such claim, it shall allow the Indemnified
Party a reasonable opportunity to participate in the defense of such Third Party Claim with its own
counsel and at its own expense. The Person that shall control the defense of any such Third Party
Claim (the “Controlling Party”) shall select counsel, contractors and consultants of recognized
standing and competence after consultation with the other Party and shall take all steps reasonably
necessary in the defense or settlement of such Third Party Claim.

(c) The Sellers or Purchaser, as the case may be, shall, and shall cause each of its
Affiliates and Representatives to, cooperate fully with the Controlling Party in the defense of any
Third Party Claim. The Indemnifying Party shall be authorized to consent to a settlement of, or
the entry of any judgment arising from, any Third Party Claim, without the consent of any
Indemnified Party, provided that the Indemnifying Party shall (i) pay all amounts arising out of
such settlement or judgment concurrently with the effectiveness of such settlement (subject to
Section 7.2(b), if applicable), and (ii) obtain, as a condition of any settlement or other
resolution, a complete release of any Indemnified Party potentially affected by such Third Party
Claim.

(d) If the Indemnified Party is the non-Controlling Party and a conflict of interest between
the Indemnified Party and the Indemnifying Party exists in respect of such Third Party Claim that
would reasonably be expected to make it inappropriate for the same counsel to represent the
interests of the Indemnifying Party and the Indemnified Party, the Indemnified Party shall have the
right to participate in (but not control) the defense of such Third Party Claim and to retain its
own counsel at the sole expense of the Indemnifying Party, which such counsel shall be reasonably
acceptable to the Indemnifying Party. In any event, the Sellers and Purchaser shall cooperate in
the defense of any Third Party Claim subject to this Article VII and the records of each
shall be reasonably available to the other with respect to such defense.

7.5 Exclusive Remedies. Subject to Section 2.5 and 9.2, following the
Closing, the indemnification provisions of this Article VII shall be the sole and exclusive
remedies of any Seller Indemnified Party and any Purchaser Indemnified Party, respectively, for any
Losses (including any Losses from claims for breach of Contract, warranty, tortious conduct
(including negligence) or otherwise and whether predicated on common law, statute, strict
liability, or otherwise) that it may at any time suffer or incur, or become subject to, as a result
of, or in connection with, any breach of any representation or warranty set forth in this Agreement
by Purchaser or the Sellers, respectively, or any breach or failure by Purchaser or the Sellers,
respectively, to perform or comply with any covenant or agreement set forth herein. Nothing in
this Agreement, including this Section 7.5, shall limit a Person’s liability following the
Closing for intentional fraud knowingly committed. Without limiting the generality of the
foregoing, the Parties hereby irrevocably waive any right of rescission they may otherwise have or
to which they may become entitled.

7.6 Additional Indemnification Provisions. With respect to each indemnification
obligation contained in this Agreement, no representation or warranty of any Seller shall be deemed
to be breached as a consequence of the existence of any fact, circumstance or event that is
disclosed in connection with another representation or warranty contained in this Agreement.

7.7 Limitation on Liability. Notwithstanding anything in this Agreement or in any
Transaction Document to the contrary, except to the extent required to be paid to a third party in
connection with a Third Party Claim, in no event shall any Party have any Liability under this
Agreement (including under this Article VII) for any consequential, special or punitive
damages, lost profits or similar items; provided, however, that nothing herein shall limit any
Party’s Liability for Losses in the nature of diminution in value (or the ability of any Party to
establish the amount of Losses in the nature of diminution in value by reference to lost profits or
other damage amounts in respect of any breach of this Agreement).

7.8 Tax Treatment of Payments. Seller and Purchaser shall treat any adjustments or
indemnity payments made pursuant to this Agreement as adjustments to the Final Purchase Price for
income Tax purposes unless applicable Tax law causes such payment not to be so treated.

ARTICLE VIII

MISCELLANEOUS

8.1 Expenses. Each of Purchaser and the Sellers shall pay all of their own fees and
expenses (including attorneys’ fees and expenses) incurred in connection with this Agreement and
the Transaction Documents and the transactions contemplated hereby and thereby, except that all
amounts charged by the Partnership or the general partner thereof, or incurred to satisfy the
requirements of the Partnership or the general partner thereof, with respect to the transfer of the
Purchased Interests, including obtaining the Approvals, and the admission of Purchaser as a
substitute limited partner with respect to the Purchased Interests shall be allocated equally
between and paid by Purchaser, on the one hand, and the Sellers, on the other hand.

8.2 Notices. All notices, consents, waivers and other communications hereunder shall
be in writing and shall be deemed to have been duly given and received when delivered in person,
when received by facsimile or email transmission (in each case, followed by delivery of an original
by another delivery method provided for in this Section 8.2 below), or one day after duly
sent by overnight courier, addressed as follows (or at such other address for a party as shall be
specified by like notice):

(a) if to Purchaser to:

	 	 	 
	Penske Automotive Group, Inc.

	2555 Telegraph Rd

	 	

	Bloomfield Hills, MI 48098

	Attention:

Facsimile:

Email:

	 	General Counsel

248-648-2515

sspradlin@penskeautomotive.com
	
 
	 	 

with a copy to:

	 	 	 
	Penske Automotive Group, Inc.

	2555 Telegraph Rd

	 	

	Bloomfield Hills, MI 48098

	Attention:

Facsimile:

Email:

	 	Chief Financial Officer

248-648-2155

jcarlson@penskeautomotive.com
	
 
	 	 

(b) if to the Sellers to:

	 	 	 
	GE Capital Truck Leasing Holding LLC

	Logistics Holding LLC

	 	

	c/o GE Capital US Holdings, Inc.

	901 Main Avenue, 6th Floor

	Norwalk, CT 06851

Attention:

Facsimile:

Email:

	 	

Mark Landis, Executive Counsel – Mergers & Acquisitions

203-286-2181

mark.landis@ge.com
	
 
	 	 

	 	 	 
	with a copy to:

	 	

	Weil, Gotshal & Manges LLP

	767 Fifth Avenue

	New York, New York 10153

	Attention:

Facsimile:

Email:

	 	Jon-Paul Bernard

212-310-8284

jon-paul.bernard@weil.com
	
 
	 	 

8.3 No Assignment; Binding Effect. Neither this Agreement nor any of the rights,
interests or obligations under this Agreement may be assigned by either Party without the prior
written consent of the other Party and any attempt to do so shall be void, except for assignments
and transfers by operation of law. This Agreement shall be binding upon, inure to the benefit of,
and may be enforced by, each of the parties to this Agreement and its successors and permitted
assigns.

8.4 Entire Agreement. This Agreement and the Transaction Documents supersede any
other agreement, whether written or oral, that may have been made or entered into by the parties
hereto relating to the matters contemplated hereby and thereby and constitute the entire agreement
of the Parties with respect to the subject matter hereof and thereof.

8.5 Confidentiality. Except (i) as required or expressly permitted by this Agreement,
(ii) as may be necessary in order to give the notices to obtain any prior regulatory approval or
the Approvals, (iii) as necessary to consult with attorneys, accountants, employees, or other
advisors retained in connection with the transactions contemplated hereby, (iv) as required by
court order or otherwise mandated by law or by Contract to which any Seller or Purchaser is a
party, or (v) in connection with legally required disclosure documents prepared by any Seller,
Purchaser or any Affiliate of either, no such Party shall issue any news release or other public
notice or communication or otherwise make any disclosure to third parties concerning (x) this
Agreement, (y) the transactions contemplated hereby or (z) any information or materials concerning
or relating to the Partnership as long as any Seller is subject to an obligation to keep such
information and/or materials confidential, without the prior consent of the other Party and the
Partnership (which consent shall not be unreasonably withheld, conditioned or delayed by the other
Party or the Partnership). Even in cases where such prior consent is not required, Purchaser, on
the one hand, and the Sellers, on the other hand, shall, to the extent legally permissible,
promptly notify the other Party and the Partnership of such release in advance in order to provide
a reasonable opportunity to the other Party and the Partnership to prepare a corresponding or other
similar release or other action on a timely basis.

8.6 Amendments, Supplements, etc. This Agreement may be amended or supplemented only
by a writing signed by Purchaser and the Sellers specifically referring to this Agreement. No term
of this Agreement, nor performance thereof or compliance therewith, may be waived except by a
writing signed by the party charged with giving such waiver.

8.7 Headings and Captions. The headings and captions in this Agreement are for
reference purposes only and shall not affect the construction or interpretation of any provision of
this Agreement.

8.8 Counterparts. This Agreement may be executed in counterparts, each of which shall
be an original, but all of which together shall constitute one and the same instrument.

8.9 Governing Law; Jurisdiction. This Agreement shall be governed by, and construed
and enforced in accordance with, the laws of the State of New York (whether in Contract or in tort)
without giving effect to the principles of conflicts of law thereof, other than Section 5-1401 of
the General Obligations Law thereunder. The parties hereto agree that any action, suit, proceeding
or arbitration of any nature, in law or equity (collectively, “Actions or Proceedings”) seeking to
enforce any provision of, or based on any matter arising out of or in connection with this
Agreement or the transactions contemplated hereby shall be brought in the United States District
Court for the Southern District of New York or any New York State court sitting in New York City,
so long as one of such courts shall have subject matter jurisdiction over such Action or
Proceeding, and that any cause of action arising out of this Agreement shall be deemed to have
arisen from a transaction of business in the State of New York, and each of the parties hereby
irrevocably consents to the jurisdiction of such courts (and of the appropriate appellate courts
therefrom) in any such Action or Proceeding and irrevocably waives, to the fullest extent permitted
by law, any objection that it may now or hereafter have to the laying of the venue of any such
Action or Proceeding in any such court or that any such Action or Proceeding which is brought in
any such court has been brought in an inconvenient forum. Process in any such Action or Proceeding
may be served on any party anywhere in the world, whether within or without the jurisdiction of any
such court. Without limiting the foregoing, the parties hereto agree that service of process on
such party as provided in Section 8.2 shall be deemed effective service of process on such
party.

8.10 Third-Party Beneficiaries. Except as provided in Section 8.2 and
Section 8.3 with respect to indemnification obligations of the Sellers and Purchaser for
the benefit of the Purchaser Indemnified Parties and the Seller Indemnified Parties, respectively,
this Agreement is not intended to confer upon any other Person any rights or remedies hereunder.

8.11 No Recourse. (i) This Agreement, each Transaction Document and any certificate
or other writing delivered pursuant to this Agreement or any such Transaction Document may be
enforced only against, and any claim, suit, litigation or other proceeding based upon, arising out
of, or related to the foregoing, may be brought only against, the entities that are expressly named
as parties hereunder or thereunder and then only with respect to the specific obligations set forth
herein or therein with respect to such party and (ii) except as expressly provided in this
Agreement, any Transaction Document or any certificate or writing delivered pursuant to this
Agreement or any such Transaction Document, no past, present or future director, officer, employee,
incorporator, member, partner, shareholder, agent, attorney, advisor, lender or representative or
Affiliate of such named party, shall have any Liability (whether in contract or tort, at law or in
equity or otherwise, or based upon any theory that seeks to impose Liability of an entity party
against its owners or Affiliates) for any one or more of the representations, warranties,
covenants, agreements or other obligations or liabilities of such named party or for any claim
based on, arising out of, or related to this Agreement, any Transaction Document or any certificate
or writing delivered pursuant to this Agreement or any such Transaction Document.

8.12 No Setoff. The obligations of the Sellers, and each of their respective
Subsidiaries, on the one hand, and Purchaser and each of its Subsidiaries, on the other hand, under
this Agreement and the Transaction Documents shall not be subject to any counterclaim, setoff,
deduction, diminution, abatement, stay, recoupment, suspension, deferment, reduction or defense, in
each case, based upon any claim that Purchaser or the Sellers may have against each other under any
other agreement between or among such parties or any of their respective Affiliates.

[Remainder of Page Intentionally Left Blank]

IN WITNESS WHEREOF, the Sellers and Purchaser have caused this Agreement to be duly
executed and delivered as of the date first above written.

SELLERS:

	 	 	 
	GE CAPITAL TRUCK LEASING HOLDING LLC
	by
	 	/s/ Trevor Schauenberg

	 	 	 

	 	 	Name: Trevor

Schauenberg

	 	 	Title: President

	 	 	 

	 	 	 
	LOGISTICS HOLDING LLC
	by /s/ Trevor Schauenberg

	 

	Name: Trevor

	Schauenberg

	Title: President

1

	 	 	PURCHASER:

	 	 	 
	PENSKE AUTOMOTIVE GROUP, INC.
	by
	 	/s/ J.D. Carlson

	 	 	 

	 	 	Name: J.D.

Carlson

	 	 	Title: EVP and

CFO

Exhibit A

Purchased Interests Ownership

	 	 	 	 	 	 	 	 	 	 	 	 	 
	
 
	 	Existing Interest
	 	Purchased Interest
	 	Remaining Interest

	GE Capital Truck Leasing Holding LLC

	 	 	29.27	%	 	 	14.16	%	 	 	15.11	%
	Logistics Holding LLC

	 	 	0.24	%	 	 	0.24	%	 	 	0.00	%

2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00260-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00260-of-00352.parquet"}]]