Document:

Exhibit 4.7

 

 

BACKUP SERVICING AGREEMENT

 

 

among

 

 

CNH CAPITAL RECEIVABLES LLC,

as Seller

 

 

NEW HOLLAND CREDIT COMPANY, LLC,

as Servicer

 

 

CNH EQUIPMENT TRUST 2005-B,

as Issuer

 

and

 

 

SYSTEMS & SERVICES TECHNOLOGIES, INC.

as Backup Servicer

 

 

Dated as of September 1, 2005

 

 

 

TABLE OF CONTENTS

 

	
  ARTICLE I

  	
  DEFINITIONS

  	
   

  
	
   

  	
   

  
	
  SECTION 1.1

  	
  Definitions

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 1.2

  	
  Usage of Terms

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 1.3

  	
  Section References

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE II

  	
  ADMINISTRATION AND SERVICING OF RECEIVABLES

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 2.1

  	
  Duties of the Backup Servicer

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 2.2

  	
  Representations and Warranties of Backup Servicer

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 2.3

  	
  Backup Servicing Termination

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 2.4

  	
  Backup Servicer Fees; Payment of Expenses by Backup
  Servicer

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE III

  	
  THE BACKUP SERVICER

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 3.1

  	
  Liability of Backup Servicer; Indemnities

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 3.2

  	
  Limitation on Liability

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 3.3

  	
  Corporate Existence

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 3.4

  	
  Insurance

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 3.5

  	
  Compliance with Laws

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE IV

  	
  TERMINATION EVENTS

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 4.1

  	
  Termination Event

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 4.2

  	
  Consequences of a Termination Event

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE V

  	
  MISCELLANEOUS PROVISIONS

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 5.1

  	
  Waiver; Amendment

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 5.2

  	
  Governing Law

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 5.3

  	
  Severability of Provisions

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 5.4

  	
  Assignment

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 5.5

  	
  Third-Party Beneficiaries

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 5.6

  	
  Counterparts

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 5.7

  	
  Notices

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 5.8

  	
  Nonpetition Covenants

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 5.9

  	
  Term

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 5.10

  	
  Limitation of Liability of Trustee

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 5.11

  	
  Miscellaneous

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 5.12

  	
  Confidentiality

  	
   

  

 

i

 

	
  SECTION 5.13

  	
  Information Requests

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 5.14

  	
  Notice to Moody’s

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Exhibit A

  	
  Sale and Servicing Agreement

  	
   

  
	
  Schedule I

  	
  Description
  of Verification and Confirmation Duties

  	
   

  

 

ii

 

THIS BACKUP SERVICING
AGREEMENT, dated as of September 1, 2005, (this “Agreement”) is made among
NEW HOLLAND CREDIT COMPANY, LLC, a Delaware limited liability company (the “Servicer”),
CNH CAPITAL RECEIVABLES LLC, a Delaware limited liability company (the “Seller”),
CNH EQUIPMENT TRUST 2005-B, a Delaware statutory trust (the “Issuer”), SYSTEMS &
SERVICES TECHNOLOGIES, INC., a Delaware corporation (the “Backup Servicer” or “SST”).

 

WITNESSETH:

 

WHEREAS, the Servicer,
the Seller and the Issuer have entered into the Sale and Servicing Agreement
dated as of the date hereof (the “Sale and Servicing Agreement”) a copy of
which is attached hereto and made a part hereof as Exhibit A;

 

WHEREAS, the Issuer and
the Servicer desire that the Backup Servicer perform certain backup servicing
duties in accordance with the terms and provisions of this Agreement;

 

WHEREAS, the Issuer
desires that the Backup Servicer assume the role of Successor Servicer under
the terms of the Sale and Servicing Agreement in the event that the Servicer is
terminated thereunder; and

 

WHEREAS, the Backup
Servicer is willing to perform the backup servicing duties specified herein and
assume the role of Successor Servicer under the terms of the Sale and Servicing
Agreement pursuant to the conditions and for the consideration described
herein;

 

NOW, THEREFORE, in
consideration of the mutual agreements herein contained, and of other good and
valuable consideration, the receipt and adequacy of which are hereby
acknowledged, the parties agree as follows:

 

ARTICLE I

DEFINITIONS

 

SECTION 1.1  Definitions.  Unless otherwise specified herein, all terms
defined in the Sale and Servicing Agreement, shall have the same meaning in
this Agreement.  Whenever capitalized and
used in this Agreement, the following words and phrases, unless the context
otherwise requires, shall have the following meanings:

 

Agreement or “this
Agreement”:  This
Backup Servicing Agreement, all amendments and supplements thereto and all
exhibits and schedules to any of the foregoing.

 

Backup Servicer:  Systems & Services Technologies, Inc.,
in its capacity as Backup Servicer under this Agreement, and its successors and
assigns in such capacity.

 

Backup Servicer Account:  means the account designated as such,
established and maintained pursuant to Section 5.1(a)(vii) of the
Sale and Servicing Agreement.

 

Backup Servicer Expenses:  is defined in Section 4.12 of the Sale
and Servicing Agreement.

 

 

Backup Servicer
Termination Event:  An
event described in Section 4.1.

 

Backup Servicing Duties:  The duties defined as such in Section 2.1.

 

Backup Servicing Fee:
means the greater of (a) 1/12 of 0.02% of the Pool Balance as of the first
day of each Collection Period and (b) $4,000.

 

Business Day:  means any day other than a Saturday, a Sunday
or a day on which banking institutions or trust companies in The City of New
York, New York, the City of Racine, Wisconsin and the City of St. Joseph,
Missouri are authorized or obligated by law, regulation or executive order to
remain closed.

 

Collection Period:  means, with respect to any Payment Date, the
period from and including the end of the preceding Collection Period (or, if
for the first Payment Date, the day after the Initial Cutoff Date) to and
including the last day of the calendar month preceding the calendar month in
which the Payment Date occurs.

 

Indenture:  means the Indenture dated as of September 1,
2005 between the Issuer and the Indenture Trustee, as the same may be amended
and supplemented from time to time.

 

Indenture Trustee:  means JPMorgan Chase Bank, N.A., a national
banking association, not in its individual capacity but solely as Indenture
Trustee under the Indenture, or any successor Indenture Trustee under the
Indenture.

 

Initial Collection Period:  The Collection
Period ending September 31, 2005.

 

Payment Date:  means, with respect to each Collection
Period, the fifteenth day of the calendar month following the end of that
Collection Period, or, if such day is not a Business Day, the next Business
Day, commencing on October 17, 2005.

 

Person:  Any legal person, including any individual,
corporation, partnership, joint venture, estate, association, joint stock
company, trust, unincorporated organization or government or any agency or
political subdivision thereof, or any other entity.

 

Sale and Servicing
Agreement:  The Sale
and Servicing Agreement attached hereto as Exhibit A, as the same may be
amended from time to time in accordance with its terms and with the written
consent of the Backup Servicer.

 

Servicing Transfer Date:  The Business Day next succeeding the
expiration of the Transfer Period.

 

Transfer Notice:  Written notice from the Indenture Trustee or
Noteholders to the Backup Servicer and the Servicer, (with a copy to the Rating
Agencies, the Noteholders (if given by the Indenture Trustee), the Counterparty
and the Trustee provided by the Indenture Trustee) advising the Backup Servicer
of the transfer of active servicing duties for the Contracts to the Backup
Servicer.

 

2

 

Transfer Period:  A period of sixty (60) days following the
Backup Servicer’s receipt of a Transfer Notice and ending on the date the
Backup Servicer is to begin Successor Servicer duties for the Contracts and the
related Receivables.

 

Verification and
Confirmation Duties: 
The duties defined as such in Section 2.1(a).

 

SECTION 1.2  Usage of Terms.  With respect to all terms used in this
Agreement, the singular includes the plural and the plural the singular; words
importing any gender include the other gender; references to “writing”  include printing, typing, lithography, and
other means of reproducing words in a visible form; references to agreements
and other contractual instruments include all subsequent amendments thereto or
changes therein entered into in accordance with their respective terms and not
prohibited by this Agreement; references to Persons include their permitted
successors and assigns; and the terms “include” or “including” mean “include
without limitation” or “including without limitation.”

 

SECTION 1.3  Section References.  All references to Articles, Sections, paragraphs,
subsections, exhibits and schedules shall be to such portions of this Agreement
unless otherwise specified.

 

ARTICLE II

ADMINISTRATION AND SERVICING OF RECEIVABLES

 

SECTION 2.1  Duties of the Backup Servicer.

 

(a)                                  Verification
and Confirmation Duties.  The Backup
Servicer agrees to perform all of the duties of the Backup Servicer as
identified on Schedule I hereto (collectively, the “Verification and
Confirmation Duties”) on behalf of the Issuer in accordance with the terms of
this Agreement.

 

(b)                                 Active
Servicing Duties.  Unless and until
the Backup Servicer or another Person is appointed as Successor Servicer, the
Backup Servicer agrees that, in the event the Servicer is terminated or
otherwise ceases to function as the Servicer pursuant to the Sale and Servicing
Agreement, if the Indenture Trustee or Noteholders representing not less than
25% of the Outstanding Amount of Notes shall issue a Transfer Notice to the
Backup Servicer and Servicer, then prior to the expiration of the Transfer
Period, Backup Servicer shall promptly execute a counterpart to the Sale and
Servicing Agreement and thereafter shall assume the rights, obligations and
duties of a Successor Servicer as expressly set forth thereunder.

 

(c)                                  The
Servicer covenants and agrees to perform within three weeks after receipt of
the Transfer Notice (or on such later date as the Issuer and the Backup
Servicer shall agree in writing) the following:

 

(i)                                     The
Servicer shall provide to the Backup Servicer all necessary servicing files and
records relating to the Contracts (as deemed necessary by the Backup Servicer
at such time) and the Servicer shall provide to the Backup Servicer access to
and transfer of records and use by the Backup Servicer of all licenses or
software necessary or desirable to collect the Contracts and the related
Receivables to the extent that any of the foregoing is not prohibited under any
licensing or other agreements with third parties.

 

3

 

(ii)                                  The
Servicer will provide to the Backup Servicer the servicing information
necessary to prepare and distribute the Servicer Certificate required to be
delivered under the Sale and Servicing Agreement.

 

(d)                                 Prior
to the expiration of the Transfer Period, the Servicer will send each Obligor
written notice containing the following information:  (i) the Servicing Transfer Date, (ii) the
address, telephone number and department of the Backup Servicer which is able
to answer questions regarding billing, (iii) notification that the legal
terms and conditions of such Obligor’s obligations will not be affected by the
servicing transfer and (iv) instructions as to how to handle any Contract
related questions.  The Backup Servicer
will consult with the Servicer concerning the form of any such notice.  If the Servicer has failed to send this
notice within three weeks after the Servicing Transfer Date, the Backup
Servicer will send such a notice to each such Obligor on the Backup Servicer’s
or the Servicer’s stationery within four weeks of the later of (A) the
date a counterpart to the Sale and Servicing Agreement executed by the Backup
Servicer is effective and (B) the Servicing Transfer Date.  The Servicer will provide the Backup Servicer
with its stationery in an amount sufficient to allow for the sending of the
notices described in this Section 2.1(d). 
The Servicer hereby irrevocably appoints the Backup Servicer as its
attorney-in-fact for the purpose of sending such notices.

 

(e)                                  Effective
upon the occurrence of the Servicing Transfer Date, the Servicer hereby
irrevocably authorizes and grants to the Backup Servicer an irrevocable
power-of-attorney to take any and all steps in the Servicer’s name and on
behalf of the Servicer that are necessary or desirable to perform its duties
hereunder, including collecting amounts due under the Receivables, endorsing
the Servicer’s name on checks and other instruments representing Collections
and enforcing the Receivables.

 

SECTION 2.2  Representations and Warranties of Backup
Servicer.  The Backup Servicer represents
and warrants as of the date of execution and delivery of this Agreement:

 

(i)                                     Organization
and Good Standing.  The Backup
Servicer has been duly organized and is validly existing and in good standing
under the laws of its jurisdiction of organization, with power, authority and
legal right to own its properties and to conduct its business as such
properties are currently owned and such business is currently conducted, and
had at all relevant times, and now has, power, authority and legal right to enter
into and perform its obligations under this Agreement;

 

(ii)                                  Due
qualification.  The Backup 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 where
the failure to do so would materially and adversely affect the performance of
its obligations under this Agreement;

 

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

 

4

 

(iv)                              Binding
Obligation.  This Agreement constitutes
the legal, valid and binding obligation of the Backup Servicer enforceable in
accordance with its terms, except as enforceability may be limited by
bankruptcy, insolvency, reorganization or other similar laws affecting the
enforcement of creditors rights generally and by equitable limitations on the
availability of specific remedies, regardless of whether such enforceability is
considered in a proceeding in equity or at law;

 

(v)                                 No
Violation.  The execution and
delivery of this Agreement, 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, or both) a default under, the
certificate of incorporation or bylaws of the Backup Servicer, or any
indenture, agreement, mortgage, deed of trust or other instrument to which the
Backup Servicer 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, mortgage, deed of trust or other instrument,
other than this Agreement, or violate any law, order, rule or regulation
applicable to the Backup Servicer of any court or of any federal or State
regulatory body, administrative agency or other governmental instrumentality
having jurisdiction over the Backup Servicer or any of its properties;

 

(vi)                              No
Proceedings.  There are no
proceedings or investigations pending or, to the Backup Servicer’s knowledge,
threatened against the Backup Servicer, before any court, regulatory body,
administrative agency or other tribunal or governmental instrumentality having
jurisdiction over the Backup Servicer 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 might materially and adversely affect the
performance by the Backup Servicer of its obligations under, or the validity or
enforceability of, this Agreement; and

 

(vii)                           No
Consents.  The Backup Servicer is not
required to obtain the consent of any other party or any consent, license,
approval or authorization, or registration or declaration with, any
governmental authority, bureau or agency in connection with the execution,
delivery, performance, validity or enforceability of this Agreement.

 

SECTION 2.3  Backup Servicing Termination.

 

(a)                                  Prior
to the time the Backup Servicer receives a Transfer Notice, this Agreement may
be terminated upon delivery of thirty (30) days advance written notice to the
Backup Servicer of such termination. 
This Agreement shall be terminated pursuant to the previous sentence if (A) (i) the
Servicer notifies the Issuer in writing that the Servicer has engaged a
replacement backup servicer or a Successor Servicer, (ii) the agreement
with such replacement backup servicer or Successor Servicer, as the case may
be, is reasonably satisfactory to the Issuer in form and substance and (iii) the
identity of such replacement backup servicer or Successor Servicer, as the case
may be, is acceptable to the Issuer in its sole discretion, (B) Moody’s
has advised the Issuer that the termination of this Agreement will not result
in a

 

5

 

downgrade or withdrawal of its ratings on the Notes or
(C) CNH Global N.V.’s long term unsecured debt credit rating by Moody’s
rises to “Ba2” or higher.

 

(b)                                 Prior
to the time the Backup Servicer receives a Transfer Notice, the Backup Servicer
may terminate this Agreement for any reason in its sole judgment and discretion
upon delivery of one hundred twenty (120) days advance written notice to the
Issuer of such termination.  In the event
that the Backup Servicer delivers notice pursuant to the foregoing sentence,
the Servicer agrees to cooperate with the Issuer, and to take such actions as
the Issuer may reasonably request, in order to appoint a replacement backup
servicer as promptly as possible.

 

SECTION 2.4  Backup Servicer Fees; Payment of Expenses
by Backup Servicer.  Unless and until
the Backup Servicer or another Person is appointed as Successor Servicer, on
the Payment Date relating to the Initial Collection Period and each Payment Date
thereafter the Backup Servicer shall be entitled to receive the Backup Servicer
Fees in accordance with the terms of the Sale and Servicing Agreement and the
Indenture.  The Backup Servicer shall
further receive all reimbursable Backup Servicer Expenses in accordance with
the terms of the Sale and Servicing Agreement and the Indenture.  The Backup Servicer shall be required to pay
all other expenses incurred by it in connection with its activities under this
Agreement (including taxes imposed on the Backup Servicer and all expenses
incurred in connection with reports to the Issuer).

 

ARTICLE III

THE BACKUP SERVICER

 

SECTION 3.1  Liability of Backup Servicer; Indemnities.

 

(a)                                  The
Backup Servicer shall be liable hereunder only to the extent of the obligations
in this Agreement specifically undertaken by the Backup Servicer and the
representations made by the Backup Servicer. 
Other than as specifically set forth in this Backup Servicing Agreement,
the Backup Servicer shall have no obligation to supervise, verify, monitor or
administer the performance of the Servicer and shall have no liability for any
action taken or omitted by the Servicer.

 

(b)                                 The
Backup Servicer shall indemnify, defend and hold harmless the Servicer, the
Issuer and their respective officers, directors, agents and employees from and
against any and all costs, expenses, losses, claims, damages and liabilities to
the extent that such cost, expense, loss, claim, damage or liability arose out
of, or was imposed upon the Servicer or the Issuer through the Backup Servicer’s
breach of this Agreement, the negligence, willful misfeasance or bad faith of
the Backup Servicer in the performance of its duties under this Agreement or by
reason of reckless disregard of its obligations and duties under this
Agreement.

 

(c)                                  The
Servicer shall indemnify, defend and hold harmless the Backup Servicer and its
respective officers, directors, agents and employees from and against any and
all costs, expenses, losses, claims, damages and liabilities to the extent that
such cost, expense, loss, claim, damage or liability arose out of, or was
imposed upon the Backup Servicer through the Servicer’s breach of this
Agreement, the negligence, willful misfeasance or bad faith of the

 

6

 

Servicer in the performance of its duties under this
Agreement or by reason of reckless disregard of its obligations and duties
under this Agreement.

 

(d)                                 The
Issuer shall (solely from amounts paid pursuant to Section 5.6(b)(x) of
the Sale and Servicing Agreement) indemnify, defend and hold harmless the
Backup Servicer and its respective officers, directors, agents and employees
from and against any and all costs, expenses, losses, claims, damages and
liabilities to the extent that such cost, expense, loss, claim, damage or
liability arose out of, or was imposed upon the Backup Servicer through the
Issuer’s breach of this Agreement, the negligence, willful misfeasance or bad
faith of the Issuer in the performance of its duties under this Agreement or by
reason of reckless disregard of its obligations and duties under this
Agreement.

 

(e)                                  The
Backup Servicer may accept and reasonably rely on all accounting and servicing
records and other documentation provided to the Backup Servicer by or at the direction
of the Servicer, including documents prepared or maintained by any Originator,
or Servicer, or any party providing services related to the Receivables
(collectively “Third Party”).  The
Servicer agrees to indemnify (subject to the limitation provided in Section 3.2
below) and hold harmless the Backup Servicer, its respective officers,
employees and agents against any and all claims, losses, penalties, fines,
forfeitures, legal fees and related costs, judgments, and any other costs, fees
and expenses that the Backup Servicer may sustain in any way related to the
negligence or misconduct of any Third Party with respect to the
Receivables.  The Backup Servicer shall
have no duty, responsibility, obligation or liability (collectively “Liability”)
for the acts or omissions of any such Third Party.  If any error, inaccuracy or omission
(collectively “Error”) exists in any information provided to the Backup
Servicer and such Errors cause or materially contribute to the Backup Servicer
making or continuing any Error (collectively “Continuing Errors”), the Backup
Servicer shall have no liability for such Continuing Errors; provided, however,
that this provision shall not protect the Backup Servicer against any liability
which would otherwise be imposed by reason of willful misconduct, bad faith or
negligence in discovering or correcting any Error or in the performance of its
duties contemplated herein.

 

In the event the Backup
Servicer becomes aware of Errors and/or Continuing Errors which, in the opinion
of the Backup Servicer, impair its ability to perform its services hereunder,
the Backup Servicer shall promptly notify the Servicer and the Indenture
Trustee of such Errors and/or Continuing Errors.  The Backup Servicer shall discuss such Errors
with the Servicer, and the Servicer and the Backup Servicer shall use their
reasonable efforts to correct such Errors. 
If after such discussion such Errors are not promptly corrected, with
the prior consent of the Indenture Trustee, the Backup Servicer may undertake
to reconstruct any data or records appropriate to correct such Errors and/or
Continuing Errors and to prevent future Continuing Errors.  The Backup Servicer shall be entitled to
recover its costs thereby expended as Backup Servicer Expenses in accordance
with the Sale and Servicing Agreement and the Indenture.

 

(f)                                    Indemnification
under this Article shall include, without limitation, reasonable fees and
expenses of counsel (including but not limited to counsel who may be employees
of the Backup Servicer) and expenses of litigation.  If the indemnifying party has made any
indemnity payments pursuant to this Article and the recipient thereafter
collects any of

 

7

 

such amounts from others, the recipient shall promptly
repay such amounts collected to the indemnifying party, together with any
interest earned thereon.

 

(g)                                 The
provisions of this Section shall survive the termination of this
Agreement.

 

SECTION 3.2  Limitation on Liability.  Neither the Backup Servicer, the Servicer,
the Issuer nor any of their respective directors or officers or employees or
agents shall be under any liability to the other, or any party to the Basic
Documents except as provided in this Agreement, for any action taken or for
refraining from the taking of any action in good faith pursuant to this
Agreement; provided,  however, that this provision shall not
protect the Backup Servicer, the Servicer, the Issuer or any such Person
against any liability that would otherwise be imposed by reason of a breach of
this Agreement, the inaccuracy of any of their respective representations or
warranties set forth in this Agreement or willful misfeasance, bad faith or
negligence in the performance of their respective duties, by reason of reckless
disregard of obligations and duties under this Agreement or any violation of
law by the Backup Servicer, the Servicer, the Issuer or such Person, as the
case may be.  The Backup Servicer, the
Servicer, the Issuer and any of their respective directors, officers, employees
or agents may rely in good faith on the advice of counsel (including but not
limited to counsel who may be employees of the Backup Servicer or the Servicer,
as the case may be) or on any document of any kind prima facie properly
executed and submitted by any Person respecting any matters arising under this
Agreement.

 

SECTION 3.3  Corporate Existence.  The Backup Servicer shall maintain its
existence and rights as a corporation under the laws of the jurisdiction of its
incorporation, and will obtain and preserve its qualification to do business as
a foreign corporation in each jurisdiction in which the failure to so qualify
would have an adverse effect on the validity or enforceability of any
Receivable or this Agreement or on the ability of the Backup Servicer to
perform its duties under this Agreement.

 

SECTION 3.4  Insurance.  The Backup Servicer shall maintain adequate
insurance in amounts and with terms customarily subscribed by companies in the
same industry performing similar functions to those of the Backup Servicer in
its role as Backup Servicer or Successor Servicer, as applicable.

 

SECTION 3.5  Compliance with Laws.  The Backup Servicer covenants with the
parties hereto that, upon the expiration of the Transfer Period, the practices
used or to be used by the Backup Servicer to monitor collections with respect
to the Contracts and repossess and dispose of the Financed Equipment related to
the contracts will be, in all material respects, legal, proper and in
conformity with the requirements of all applicable federal and State laws, rules and
regulations.  Upon the expiration of the
Transfer Period, the Backup Servicer will be in possession of all State and
local licenses (including all debt collection licenses) required for it to
perform its services hereunder, and none of such licenses shall have been
suspended, revoked or terminated.

 

8

 

ARTICLE IV

TERMINATION EVENTS

 

SECTION 4.1  Termination Event.  For purposes of this Agreement, each of the
following shall constitute a Termination Event (subsections (a) through (d) shall
further constitute a “Backup Servicer Event of Default”):

 

(a)                                  Failure
on the part of the Backup Servicer duly to observe or perform in any material
respect any covenant or agreement of the Backup Servicer set forth in this
Agreement, which failure continues unremedied for a period of 30 days after the
date on which written notice of such failure, requiring the same to be
remedied, shall have been given to the Backup Servicer by the Servicer; or

 

(b)                                 (i) The
commencement of an involuntary case under the federal bankruptcy laws, as now
or hereinafter in effect, or another present or future federal or State
bankruptcy, insolvency or similar law and such case is not dismissed within 60
days; or (ii) the entry of a decree or order for relief by a court or
regulatory authority having jurisdiction in respect of the Backup Servicer in
an involuntary case under the federal bankruptcy laws, as now or hereafter in
effect, or another present or future, federal or State, bankruptcy, insolvency
or similar law, or appointing a receiver, liquidator, assignee, trustee,
custodian, sequestrator or other similar official of the Backup Servicer or of
any substantial part of its properties or ordering the winding up or
liquidation of the affairs of the Backup Servicer; or

 

(c)                                  The
commencement by the Backup Servicer of a voluntary case under the federal
bankruptcy laws, as now or hereafter in effect, or any other present or future
federal or State bankruptcy, insolvency or similar law, or the consent by the
Backup Servicer to the appointment of or taking possession by a receiver,
liquidator, assignee, trustee, custodian, sequestrator or other similar
official of the Backup Servicer or of any substantial part of its property or
the making by the Backup Servicer of an assignment for the benefit of creditors
or the failure by the Backup Servicer generally to pay its debts as such debts
become due or the taking of corporate action by the Backup Servicer in furtherance
of any of the foregoing; or

 

(d)                                 Any
representation, warranty or statement of the Backup Servicer made in this
Agreement or any certificate, report or other writing delivered by the Backup
Servicer pursuant hereto shall prove to be incorrect in any material respect as
of the time when the same shall have been made and, within thirty (30) days
after written notice thereof shall have been given to the Backup Servicer by
the Servicer, the circumstances or condition in respect of which such representation,
warranty or statement was incorrect shall not have been waived, eliminated or
otherwise cured; or

 

(e)                                  Failure
on the part of the Backup Servicer to receive Backup Servicer Fees or Backup
Servicer Expenses as and when due as set forth in the Sale and Servicing
Agreement and the Indenture, which failure shall not be cured within twenty
(20) days after the date on which written notice of such failure shall have
been received by the Servicer and the Issuer.

 

9

 

SECTION 4.2  Consequences of a Termination Event.

 

(a)                                  If
a Backup Servicer Event of Default (as defined in Section 4.1 above) shall
occur and be continuing, the Servicer may, by notice given in writing to the
Backup Servicer, terminate all of the rights and obligations of the Backup
Servicer under this Agreement, except as set forth in Sections 3.1(c), (d), (e) and
(f).  On or after the receipt by the
Backup Servicer of such written notice, all authority, power, obligations and
responsibilities of the Backup Servicer under this Agreement shall be
terminated.  The terminated Backup
Servicer agrees to cooperate with the Servicer in effecting the termination of
the responsibilities and rights of the terminated Backup Servicer under this
Agreement.

 

(b)                                 Notwithstanding
any other provision of this Agreement, in the event of a Termination Event
pursuant to Section 4.1(e), this Agreement shall terminate upon expiration
of the given cure period, and the Backup Servicer shall then have no
obligations or responsibilities under this Agreement, except as set forth in Section 3.1(f).

 

ARTICLE V

MISCELLANEOUS PROVISIONS

 

SECTION 5.1  Waiver; 
Amendment.  Neither this
Agreement nor any provision hereof may be waived, amended or modified orally,
but only by an instrument in writing signed by the Servicer, the Seller, the
Backup Servicer, the Indenture Trustee and the Issuer; provided that any
such amendment shall not materially and adversely affect the interests of any
Noteholder; provided, further, that any such amendment shall be
deemed not to materially and adversely affect the interests of any Noteholder
if the Rating Agency Condition is satisfied. 
Notwithstanding anything herein to the contrary, any term or provision
of this Agreement may be amended by the Servicer and the Seller without the
consent of the Noteholders or any other Person to add, modify or eliminate any
provisions as may be necessary or advisable in order to comply with or obtain
more favorable treatment under or with respect to any law or regulation or any
accounting rule or principle (whether now or in the future in effect); it
being a condition to any such amendment that the Rating Agency Condition shall
have been satisfied.

 

SECTION 5.2  Governing Law.  THIS AGREEMENT SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD
TO THE PRINCIPLES OF CONFLICTS OF LAWS THEREOF AND THE OBLIGATIONS, RIGHTS AND
REMEDIES OF THE PARTIES UNDER THIS AGREEMENT SHALL BE DETERMINED IN ACCORDANCE
WITH SUCH LAWS.

 

SECTION 5.3  Severability of Provisions.  If any one or more of the covenants,
agreements, provisions or terms of this Agreement shall be for any reason
whatsoever held invalid, then such covenants, agreements, provisions or terms
shall be deemed severable from the remaining covenants, agreements, provisions
or terms of this Agreement and shall in no way affect the validity or
enforceability of the other provisions of this Agreement.

 

SECTION 5.4  Assignment.  Notwithstanding anything to the contrary
contained in this Agreement, this Agreement may not be assigned by the Backup
Servicer without the prior written consent of the Servicer.

 

10

 

SECTION 5.5  Third-Party Beneficiaries.  This Agreement shall inure to the benefit of
and be binding upon the parties hereto and their respective successors and
permitted assigns.  Nothing in this
Agreement, express or implied, shall give to any Person, other than the parties
hereto, their successors hereunder and the Persons entitled to be indemnified
pursuant to Section 3.1, any benefit or any legal or equitable right,
remedy or claim under this Agreement.

 

SECTION 5.6  Counterparts.  For the purpose of facilitating its execution
and for other purposes, this Agreement may be executed simultaneously in any
number of counterparts, each of which counterparts shall be deemed to be an
original, and all of which counterparts shall constitute but one and the same
instrument.

 

SECTION 5.7  Notices.  All demands, notices and communications under
this Agreement shall be in writing, personally delivered or mailed, or by
facsimile transmission: (a) in the case of the Backup Servicer, at the
following address: 4315 Pickett Road, St. Joseph, Missouri 64503 Attention:
John J. Chappell and Joseph D. Booz, Facsimile Number (816)-671-2038; (b) in
the case of the Servicer, at the following address: New Holland Credit Company,
LLC, 33 South Railroad Avenue, New Holland, Pennsylvania 17557, Attention:
Finance Manager; with a copy to: New Holland Credit Company, LLC, 100 South
Saunders Road, Lake Forest, Illinois 60045, Attention: Senior Managing
Attorney; (c) in the case of the Issuer, at the following address:  CNH Equipment Trust 2005-B, in care of The
Bank of New York, 101 Barclay Street, Floor 8W, New York, New York 10286,
Attention:  Corporate Trust
Administration-Asset Backed Finance Unit, Facsimile Number (212) 815-3923; (d) in
the case of the Seller, to CNH Capital Receivables LLC, 100 South Saunders
Road, Lake Forest, Illinois 60045, Attention of: Treasurer, Facsimile Number
(847) 955-4943; and (e) in the case of the Indenture Trustee, at its
Corporate Trust Office; or at such other address as shall be designated by any
such party in a written notice to the other parties.  All such
notices and communications shall be effective, upon receipt, or in the case of (i) notice
by mail, five days after being deposited in the United States mail, first class
postage prepaid, (ii) notice by telex, when telexed against receipt of
answer back, or (iii) notice by facsimile copy, when verbal communication
of receipt is obtained.

 

SECTION 5.8  Nonpetition Covenants.  Notwithstanding any prior termination of this
Agreement, the Backup Servicer, the Servicer and the Indenture Trustee shall
not, prior to the date that is one year and one day after the payment in full
of all securities issued by Issuer or any other special purpose entity to which
Seller transfers receivables, which securities are rated at issuance by a
nationally recognized statistical rating organization, with respect to the
Issuer or the Seller, acquiesce, petition or otherwise invoke or cause the
Issuer or the Seller to invoke the process of any court or governmental
authority for the purpose of commencing or sustaining a case against the Issuer
or 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 Issuer or the Seller or any
substantial part of its property, or ordering the winding up or liquidation of
the affairs of the Issuer or the Seller. The foregoing shall not limit the
right of the Backup Servicer, the Servicer or the Indenture Trustee to file any
claim in or otherwise take any action with respect to any such insolvency
proceeding that was instituted against the Issuer or the Seller by any Person
other than the Backup Servicer, the Servicer or the Indenture Trustee.

 

11

 

SECTION 5.9  Term. 
The provisions of this Agreement and the duties and obligations of the
Backup Servicer hereunder shall commence on the date hereof and shall continue
in full force and effect until either (i) if SST is not then the Successor
Servicer, the Notes have been repaid in their entirety or (ii) the Pool
Balance equals zero, unless earlier terminated pursuant to the terms of this
Agreement.

 

SECTION 5.10  Limitation of Liability of Trustee.  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 Owner 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.

 

SECTION 5.11  Miscellaneous.  In connection with its execution and
performance of this Agreement, the Issuer is entitled to all rights,
privileges, benefits and indemnities provided to it under the Sale and Servicing
Agreement.

 

SECTION 5.12  Confidentiality.  SST shall maintain, and shall cause each
officer, employee and agent of itself and its affiliates to maintain, the
confidentiality of this Backup Servicing Agreement, the Basic Documents and all
other confidential proprietary information with respect to the Servicer, CNH
Capital America LLC, the Seller and CNH Global N.V. and their affiliates and
successors and each of their respective businesses obtained by SST in
connection with the structuring, negotiation and execution of the transactions
contemplated herein and in the other Basic Documents or as otherwise provided
to SST from time to time due to its role as Backup Servicer or Successor
Servicer, except for information that has become publicly available or information
disclosed (i) to legal counsel, accountants and other professional
advisors to SST, (ii) as required by law, regulation or legal process, (iii) in
connection with any legal or regulatory proceeding to which SST or any of their
affiliates is subject or (iv) any other disclosure with the prior written
consent of CNHCA.

 

SECTION 5.13  Information Requests.  The parties hereto shall provide any
information reasonably requested by the Servicer or the Seller or any of their
Affiliates, at the expense of such party, in order to comply with or obtain
more favorable treatment under any current or future law, rule, regulation,
accounting rule or principle.

 

SECTION 5.14  Notice to Moody’s.  The Servicer shall notify Moody’s upon the
termination of this Agreement pursuant to Section 2.3 or the
termination of SST as Backup Servicer pursuant to Section 4.2.

 

[The balance of this page has been intentionally left blank]

 

12

 

IN WITNESS WHEREOF, the
Servicer, the Issuer, the Backup Servicer, the Seller and the Indenture Trustee
have caused this Backup Servicing Agreement to be duly executed by their
respective officers as of the day and year first above written.

 

	
   

  	
  NEW HOLLAND CREDIT COMPANY, LLC,

  as Servicer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Brian O’Keane

  	
   

  
	
   

  	
  Name: Brian O’Keane

  
	
   

  	
  Title: Treasurer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  CNH CAPITAL RECEIVABLES LLC, as
  Seller

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Brian O’Keane

  	
   

  
	
   

  	
  Name: Brian O’Keane

  
	
   

  	
  Title: Treasurer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  CNH EQUIPMENT TRUST 2005-B, as
  Issuer

  
	
   

  	
   

  
	
   

  	
  By:

  	
  The Bank of New York, not in its individual

  capacity but solely as Trustee

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Catherine Murray

  	
   

  
	
   

  	
   

  	
  Name: Catherine Murray

  
	
   

  	
   

  	
  Title: Assistant Treasurer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  SYSTEMS & SERVICES
  TECHNOLOGIES,

  INC., as Backup Servicer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Kimberly K. Costa

  	
   

  
	
   

  	
  Name: Kimberly K. Costa

  
	
   

  	
  Title: Vice President

  
									

 

Backup Servicing Agreement

 

S-1

 

	
  ACKNOWLEDGED AND AGREED:

  
	
   

  
	
   

  
	
  JPMORGAN CHASE BANK, N.A., not in its

  individual capacity but solely as Indenture Trustee

  
	
   

  
	
   

  
	
  By:

  	
  /s/ Keith Richardson

  	
   

  
	
  Name: Keith Richardson

  
	
  Title: Attorney-In-Fact

  

 

S-2

 

SCHEDULE I

 

DESCRIPTION OF VERIFICATION AND CONFIRMATION DUTIES

(BACKUP SERVICING)

 

The Backup Servicer shall
provide the following services related to backup servicing in connection with
the Contracts.

 

(i)                                     The
Backup Servicer will work with the Servicer’s personnel to obtain the necessary
systems and data information from the servicing systems in use by the Servicer
(the “Initial Data File Data Layouts and Definitions” as set forth in [Appendix
A]).  Using this information, the Backup
Servicer will create a set of conversion routines and database mapping
programs, as necessary, that will enable the Backup Servicer to receive data
from the Servicer on a monthly basis (at the time and in the manner specified
in Section 2.1(a) of the Backup Servicing Agreement) and to ensure
that the data is readable.

 

(ii)                                  On
a monthly basis, commencing with the Initial Collection Period, the Backup
Servicer shall (x) verify receipt of the Monthly Data Files, as set forth in
Appendix B, required to be delivered by the Servicer (at the time and in the
manner specified in Section 2.1(a) of the Backup Servicing Agreement)
and (y) verify that the records and data contained in the monthly data files
are in a readable format.

 

(iii)                               On
the 10th Business Day after receipt of the Monthly Data Files and the Servicer’s
Certificate from the Servicer, the Backup Servicer shall notify the Servicer
that (i) the Backup Servicer has reviewed the Monthly Data Files for the
related Collection Period, (ii) a review of the information concerning
delinquency aging, defaults and ending Contract Value reflected on the Servicer’s
Certificate has been made and (iii) to the best of SST’s knowledge using
its best reasonable efforts, the data in such Monthly Data Files ties to such
items on the Servicer’s Certificate, resulting in no discrepancies between
them.  If the preceding statement cannot
be made in the affirmative, SST shall notify the Servicer of the nature of any
and all discrepancies.  The Backup
Servicer and the Servicer shall attempt to reconcile all discrepancies with
respect to such Servicer’s Certificate. The effect, if any, of such
reconciliation shall be reflected in the next succeeding Servicer’s
Certificate.Exhibit 10.9

CONFIDENTIAL

CERTAIN INFORMATION HAS BEEN REDACTED

CONFIDENTIAL TREATMENT REQUESTED

FOURTH AMENDMENT TO LEASE

THIS FOURTH AMENDMENT TO LEASE (this “Fourth Amendment”)
is dated as of March 31, 2004, between ARE-819/863 MITTEN ROAD, LLC, a Delaware
limited liability company (“Landlord”), and VALENTIS, INC., a Delaware
corporation  (“Tenant”).

A.            Landlord
and Tenant are parties to that certain Lease (as amended, the “863 Mitten Lease”) dated as of December 21, 1993, as
amended by that certain First Amendment to Lease dated March 18, 1997 (the “First
Amendment”), that certain Second Amendment to Leases dated as of April 10, 2001
(the “Second Amendment”), and that certain Third Amendment to Lease dated as of
July 2, 2003 (the “Third Amendment”) wherein Landlord leases to Tenant certain
premises (the “Premises”) consisting of so-called Building A and a portion of
Building C located at 863 Mitten Road, Burlingame, California, comprising
34,673 rentable square feet, as more particularly described in the 863 Mitten
Lease.  Initially capitalized terms not
specifically defined herein shall have the meanings set forth in the 863 Mitten
Lease.

B.            Landlord
and Tenant are also parties to that certain separate Lease, dated as of March
18, 1997 (as amended, the “866 Malcolm Lease”) with respect to certain premises
consisting of so-called Building E and Suite 120F of Building F located at 866
Malcolm Road, Burlingame, California, as more particularly described in the 866
Malcolm Lease.

C.            The
863 Mitten Lease and the 866 Malcolm Lease do not terminate on the same date.

D.            Pursuant
to Section 5 of the First Amendment, the initial term of the 863 Mitten Lease
was extended so that the 863 Mitten Lease will terminate on November 30,
2004.  The 866 Malcolm Lease will
terminate on October 31, 2007.

E.             Pursuant
to Section 6 of the First Amendment, the Tenant was granted an option which, if
exercised by Tenant, would permit Tenant to extend the term of the 863 Mitten
Lease so that the 863 Mitten Lease would terminate on the same date as the 866
Malcolm Lease.

F.             Landlord
and Tenant have agreed to permit Tenant to extend the 863 Mitten Lease for a
period less than the period set forth in Section 6 of the First Amendment.

G.            Landlord
and Tenant further desire to amend the 863 Mitten Lease as otherwise set forth
in this Fourth Amendment.

NOW THEREFORE, in consideration of the foregoing
recitals, the mutual covenants and agreements contained herein, and for other
good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, Landlord and Tenant agree, and amend the 863 Mitten
Lease  again as follows:

 

[*] Confidential information in this Exhibit has been omitted and filed
separately with the Commission. 
Confidential treatment has been requested with respect to the omitted
portions.

1.             Premises. 
The definition of “Premises” as set forth in the 863 Mitten Lease is not
changed.

2.             Effective Date. 
This Fourth Amendment shall become effective as the date of full
execution and delivery.

3.             Termination Date/Term:  The term of the 863 Mitten Lease shall be
extended continuously for a period of 24 months, commencing on December 1, 2004
(the “Fourth Amendment Commencement Date”) and expiring on November 30, 2006
(the “Amended Termination Date”).  The
period between the Fourth Amendment Commencement Date and the Amended
Termination Date shall be called the “Extended Term”.

4.             Basic Rent. 
The definition of “Basic Rent” as set forth in the 863 Mitten Lease as
amended is hereby amended so that during the Extended Term, Tenant shall pay
base rent for the Premises as follows:

	
  Period

  	
   

  	
  base rent/sf/mo.

  	
   

  	
  base rent/month

  	
   

  
	
  Months 1 – 12

  	
   

  	
  $

  	
  [*]

  	
   

  	
  $

  	
  [*]

  	
   

  
	
  Months 12 – 24

  	
   

  	
  $

  	
  [*]

  	
   

  	
  $

  	
  [*]

  	
   

  

5.             Option to Extend. 
Provided that Tenant is not in default of any of the provisions of the
863 Mitten Lease at the time Tenant elects to exercise the option set forth in
this Section 5 of this Fourth Amendment, then Tenant may elect to extend the
term of the 863 Mitten Lease as set forth in this Section 5 for an additional
period (the “Extended Option Term”).  The
Extended Option Term shall be a period commencing on the Amended Termination
Date (as defined in Section 3 above) and ending on the same date as the 866
Malcolm Lease, as that lease may be extended. 
The option to extend the 863 Mitten Lease may be exercised by Tenant by
delivering binding written notice to Landlord of Tenant’s clear intent to do so
not less than 270 days nor more than 360 days prior to the Amended Termination
Date.  If Tenant does not timely deliver
notice of its election to exercise the option, then Tenant shall be deemed to
have waived the option, and Tenant shall have no further right to extend the
863 Mitten Lease.  If Tenant timely
delivers notice of its election to extend the 863 Mitten Lease for the Extended
Option Term, the term of the 863 Mitten Lease shall be so extended.  The Extended Option Term shall be subject to
all of the terms and conditions of the 863 Mitten Lease, except that Basic Rent
shall be payable during the Extended Option Term at the then rate of Market
Rent, as defined in the Third Amendment. 
This option supercedes the option set forth in Section 6 of the First
Amendment (“First Option”), and upon execution and delivery of this Fourth
Amendment, the First Option shall terminate.

6.             [*] Equipment. 
The parties acknowledge that Tenant has installed various trade fixtures
and built-in equipment in that portion of the Premises, which is used as a [*]
(the “[*] Equipment”).  Upon the
termination or earlier expiration of the 863 Mitten Lease, the [*] Equipment
shall be deemed to be the property of Landlord, and Tenant shall surrender the
Premises with all of the [*] Equipment.

 

[*] Confidential information in this Exhibit has been omitted and filed
separately with the Commission.  Confidential
treatment has been requested with respect to the omitted portions.

7.             Surrender of Premises.  Upon the
expiration of the Term or earlier termination of Tenant’s right of possession,
Tenant shall surrender the Premises to Landlord in the same condition as
received, free of Hazardous Materials (as defined in the 863 Mitten Lease)
brought upon, kept, used, stored, handled, treated, created, developed,
produced, generated in, or released or disposed of from the Premises by any
person other than Landlord (collectively, “Tenant HazMat Operations”) and released of any
license, clearance or other authorization of any kind required to enter, use or
restore the Premises issued by any governmental authority having jurisdiction
over the use, storage, handling, treatment, creation, development, production,
generation, release, disposal, removal or remediation of Hazardous Materials
in, on or about the Premises (collectively referred to herein as “Hazardous Materials Clearances”), broom
clean, ordinary wear and tear and casualty loss and condemnation excepted.  Tenant hereby covenants to sign as the
operator of the facility any “hazardous materials generator” or similar form
required by any governmental authority with respect to the use of Hazardous
Materials on the Premises during the Term. 
Tenant hereby appoints Landlord as its agent in fact for the limited
purpose of signing any “hazardous materials generator”, “hazardous waste
manifest” or similar form required by any governmental authority in connection
with the presence, use or removal of Hazardous Materials; provided that
Landlord hereby covenants to exercise its authority as Tenant’s attorney in
fact only if Tenant fails or refuses to sign any such form after written
request by Landlord.

At
least 3 months prior to the Amended Termination Date (as such date may be
extended), Tenant shall deliver to Landlord a narrative description of the
actions proposed (or required by any governmental authority) to be taken by
Tenant in order to surrender the Premises at the expiration or earlier
termination of the Term, free from any residual impact from the Tenant HazMat
Operations and otherwise released for unrestricted use and occupancy (the “Surrender Plan”).  The Surrender Plan shall include without
limitation all of the items described on Exhibit A attached hereto, and shall
be reasonably satisfactory to Landlord. 
In connection with the review and approval of the Surrender Plan, upon
the request of Landlord, Tenant shall deliver to Landlord or its consultant
such additional non-proprietary information concerning Tenant HazMat Operations
as Landlord shall request.  On or before
the date of surrender, Tenant shall certify to Landlord that all action set
forth in the approved Surrender Plan has been completed.  Landlord shall have the right (but not the
obligation), subject to reimbursement at Tenant’s expense as set forth below,
to cause Landlord’s environmental consultant to inspect the Premises and
perform such additional procedures as may be deemed reasonably necessary to
confirm that the Premises are, as of the effective date of such surrender or
early termination of the 863 Mitten Lease, free from any residual impact from
Tenant HazMat Operations.  Landlord’s
approval of any Surrender Plan shall not make Landlord liable in any way for
the content or, or the results of any action taken as a result of the Surrender
Plan.  Tenant shall reimburse Landlord,
as Additional Rent, for the actual out-of pocket expense incurred by Landlord
for Landlord’s environmental consultant to review and approve the Surrender
Plan and to visit the Premises and verify satisfactory completion of the same,
which cost shall not exceed $5,000. 
Landlord shall have the unrestricted right to deliver such Surrender
Plan and any report by Landlord’s environmental consultant with respect to the
surrender of the Premises to third parties.

If Tenant shall fail to prepare and submit a Surrender
Plan to Landlord, or if Tenant shall fail to complete the work described in the
Surrender Plan, or if such Surrender Plan, whether or 

 

[*] Confidential information in this Exhibit has been omitted and filed
separately with the Commission. 
Confidential treatment has been requested with respect to the omitted
portions.

not reviewed by Landlord’s
environmental consultant, shall fail to adequately address any residual effect
of Tenant HazMat Operations in, on or about the Premises, Landlord shall have
the right, but not the obligation, to take such actions as Landlord may deem
reasonable or appropriate to assure that the Premises and the Project are
surrendered free from any residual impact from Tenant HazMat Operations, the
cost of which actions shall be reimbursed by Tenant as Additional Rent, without
regard to the limitation on cost set forth in the preceding paragraph of this
Section 7 of this Fourth Amendment.

8.             Brokers. 
Landlord and Tenant each represents to the other that it has not dealt
with any broker in connection with this Fourth Amendment.  Each party (the “Indemnifying Party”) hereby
agrees to indemnify, defend and hold harmless the other party from any claim
for a commission or other compensation from any broker claiming through the
Indemnifying Party.

9.             Counterparts. 
This Fourth Amendment may be executed in any number of counterparts,
each of which when so executed and delivered shall be deemed to be an original
and all of which counterparts taken together shall constitute but one and the
same instrument.  Signature pages may be
detached from the counterparts and attached to a single copy of this Fourth
Amendment to physically form one document.

10.           Reaffirmation of Obligations.  Landlord and Tenant hereby acknowledge and
reaffirm all of the terms of the 863 Mitten Lease, as such 863 Mitten Lease has
been amended by this Fourth Amendment, and agrees that any reference made in
any other document to the 863 Mitten Lease shall mean the 863 Mitten Lease
as amended pursuant to this Fourth Amendment. 
Except as expressly provided herein, the 863 Mitten Lease remains
unmodified and in full force and effect.

11.           Miscellaneous.   The agreements, conditions and provisions
herein contained shall apply to and bind the heirs, executors, administrators,
successors and assigns of the parties hereto.  
If any provisions of this Fourth Amendment or the 863 Mitten Lease shall
be determined to be illegal or unenforceable, such determination shall not
affect any other provision of the 863 Mitten Lease or this Fourth Amendment and
all such other provisions shall remain in full force and effect.  If there is any inconsistency between the
provisions of this Fourth Amendment and the other provisions of the 863 Mitten
Lease, the provisions of this Fourth Amendment shall control with respect to
the subject matter of this Fourth Amendment. 
This Fourth Amendment shall be construed in accordance with the laws of
the state of California.  This Fourth
Amendment constitutes a part of the 863 Mitten Lease and is incorporated by
this reference.

SIGNATURES
APPEAR ON NEXT PAGE

 

[*] Confidential information in this Exhibit has been omitted and filed
separately with the Commission. 
Confidential treatment has been requested with respect to the omitted
portions.

IN WITNESS WHEREOF, Landlord and Tenant have caused
this Fourth Amendment to be duly executed and delivered as of the date first
above written.

“Landlord”

ARE-819/863 MITTEN ROAD, LLC,

a Delaware limited liability company

	
  By:

  	
  Alexandria Real Estate Equities, L.P.,

  
	
   

  	
  a Delaware limited
  partnership, managing member

  
	
   

  	
  By:

  	
  ARE-QRS CORP.,

  
	
   

  	
   

  	
  a Maryland corporation

  
	
   

  	
   

  	
  its general partner

  
	
   

  	
  By: 

  	
  /s/ Joel S. Marcus

  	
   

  
	
   

  	
  Print Name: Joel S.
  Marcus

  
	
   

  	
  Print Title: President

  
					

 

	
  “Tenant”

  
	
  VALENTIS,
  INC.,

  
	
  a Delaware corporation

  
	
  By

  	
  /s/ Joseph A. Markey

  	
   

  
	
  Name: Joseph A. Markey

  
	
  Title: Director of Finance

  

 

[*] Confidential information in this Exhibit has been omitted and filed
separately with the Commission. 
Confidential treatment has been requested with respect to the omitted
portions.

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