Document:

<PAGE>

                                                                    Exhibit 4.12

                                  AMENDMENT TO
                   RECEIVABLES CONTRIBUTION AND SALE AGREEMENT

      This AMENDMENT is made and entered into as of April 1, 2003 (this
"Amendment") by and between Deutsche Floorplan Receivables, L.P., a Delaware
limited partnership, as Seller (the "Limited Partnership") and CDF Financing,
L.L.C., a Delaware limited liability company, as Buyer (the "LLC").

                                   BACKGROUND

      WHEREAS, Limited Partnership and the LLC are parties to the Receivables
Contribution and Sale Agreement, dated as of December 31, 2002 (the "Sale
Agreement"); and

      WHEREAS, the parties to the Sale Agreement desire to amend the Sale
Agreement as set forth herein.

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

      SECTION 1. Defined Terms. Capitalized terms defined in the Sale Agreement
and used in this Amendment but not otherwise defined herein shall have the
meanings assigned to them in the Sale Agreement.

      SECTION 2. Amendments.

            (a)   Amendment to Representations and Warranties. Subsection 2.3(a)
      of the Sale Agreement is hereby amended by adding the following new clause
      at the end thereof:

                  "(vi) The additional representations and warranties set forth
                  in Schedule 2 hereto are true and correct."

            (b)   Schedule 2. The Sale Agreement is hereby amended by adding
      Schedule 2 attached hereto as Schedule 2 to the Sale Agreement.

      SECTION 3. Representations and Warranties. In order to induce the parties
hereto to enter into this Amendment, each of the parties hereto represents and
warrants unto the other parties hereto as set forth in this Section 3:

            (a)   Due Authorization, Non-Contravention, etc. The execution,
      delivery and performance by such party of this Amendment are within its
      powers, have been duly authorized by all necessary action, and do not: (i)
      contravene its organizational documents; or (ii) contravene any
      contractual restriction, law or governmental regulation or court decree or
      order binding on or affecting it; and

<PAGE>

            (b)   Validity, etc. This Amendment constitutes the legal, valid and
      binding obligation of such party enforceable against such party in
      accordance with its terms, subject to applicable bankruptcy, insolvency
      and similar laws affecting creditors' rights and general equitable
      principles.

      SECTION 4. Binding Effect; Ratification. (a) This Amendment shall become
effective, as of the date first set forth above, when counterparts hereof shall
have been executed and delivered by the parties hereto, and thereafter shall be
binding on the parties hereto and their respective successors and assigns.

            (b)   Any reference to the Sale Agreement (whether in the Sale
      Agreement or in any other agreement or document) from and after the date
      hereof shall be deemed to refer to the Sale Agreement as amended hereby,
      unless otherwise expressly stated.

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

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

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

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

            (d)   Executed counterparts of this Amendment may be delivered
      electronically.

                               [SIGNATURES FOLLOW]

                                        2
<PAGE>

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

                                  CDF FINANCING, L.L.C.

                                  By: /s/ Joseph B. Thomas
                                      Name: Joseph B. Thomas
                                      Title: Manager

                                                       Amendment to Contribution
                                                              and Sale Agreement

                                       S-1
<PAGE>

                                  DEUTSCHE FLOORPLAN RECEIVABLES, L.P.

                                  By: Deutsche Floorplan Receivables, Inc., its
                                      General Partner

                                  By: Joseph B. Thomas
                                      Name: Joseph B. Thomas
                                      Title: Treasurer

                                                       Amendment to Contribution
                                                              and Sale Agreement

                                       S-2
<PAGE>

                                   SCHEDULE 2

                    Perfection Representations and Warranties

      1.    General. This Agreement creates a valid and continuing security
interest (as defined in the applicable UCC) in all of the Seller's right, title
and interest in, to and under (i) the Receivables, (ii) the Collateral Security
and all proceeds thereof and (iii) the Floorplan Agreements (clauses (i), (ii)
and (iii) may be referred to herein as the "Receivables Property") in favor of
the Buyer, which (a) is enforceable against creditors of and purchasers from the
Seller, as such enforceability may be limited by applicable law, now or
hereafter in effect, and by general principles of equity (whether considered in
a suit at law or in equity), and (b) will be prior to all other Liens (other
than Liens permitted pursuant to paragraph 5 below) in such property.

      2.    Characterization. The Receivables constitute "accounts", "general
intangibles" or "tangible chattel paper" within the meaning of UCC Section
9-102. The Seller has taken all steps necessary to perfect its ownership
interest in the rights of CDF in the property securing the Receivables Property.

      3.    Creation. Immediately prior to the conveyance of the Receivables
pursuant to this Agreement, the Seller owns and has good and marketable title
to, or has a valid security interest in CDF's rights in, the Receivables
Property free and clear of any Lien, claim or encumbrance of any Person.

      4.    Perfection. The Seller has caused the filing of all appropriate
financing statements in the proper filing office in the appropriate
jurisdictions under applicable law in order to perfect the ownership interest
arising under this Agreement in the Seller's rights in the Receivables Property.

      5.    Priority. Other than the ownership interests transferred to the
Buyer pursuant to this Agreement, the Seller has not pledged, assigned, sold,
granted a security interest in, or otherwise conveyed any of the Receivables
Property except as permitted by this Agreement. The Seller has not authorized
the filing of and is not aware of any financing statements against the Seller
that include a description of collateral covering the Receivables Property other
than any financing statement (i) relating to the security interests granted to
the Buyer under this Agreement, (ii) that has been terminated, or (iii) that has
been granted pursuant to the terms of the Related Documents. None of the
tangible chattel paper that constitutes or evidences the Receivables has any
marks or notations indicating that they have been pledged, assigned or otherwise
conveyed to any Person other than the Buyer. The Seller is not aware of any
judgment, ERISA or tax lien filings against it.

      6.    Survival of Perfection Representations. Notwithstanding any other
provision of this Agreement or any other Related Document, the Perfection
Representations contained in this Schedule 2 shall be continuing, and remain in
full force and effect.

      7.    No Waiver. The parties to this Agreement: (i) shall not, without
satisfying the Rating Agency Condition, waive any of the representations and
warranties in this Schedule 2 (the "Perfection Representations"); (ii) shall
provide the Rating Agencies with prompt written notice of any breach of the
Perfection Representations, and shall not, without satisfying the Rating Agency

                                       2-1

<PAGE>

Condition (as determined after any adjustment or withdrawal of the ratings
following notice of such breach) waive a breach of any of the Perfection
Representations.

      8.    Seller to Maintain Perfection and Priority. The Seller covenants
that, in order to evidence the interests of the Seller and the Buyer under this
Agreement, the Seller shall take such action, or execute and deliver such
instruments (other than effecting a Filing (as defined below), unless such
Filing is effected in accordance with this paragraph) as may be necessary or
advisable (including such actions as are requested by the Buyer) to maintain and
perfect, as a first priority interest, the Buyer's ownership interest in the
Seller's rights in the Receivables Property. The Servicer shall, from time to
time and within the time limits established by law, prepare and present to the
Buyer (and the Trustee) for the Buyer to authorize (based in reliance on the
Opinion of Counsel hereinafter provided for in this paragraph) the Seller to
file, all financing statements, amendments, continuations, financing statements
in lieu of a continuation statement, terminations, partial terminations,
releases or partial releases, or any other filings necessary or advisable to
continue, maintain and perfect the Buyer's ownership interest in the Seller's
rights in the Receivables Property as a first-priority interest (each a
"Filing"). The Servicer shall present each such Filing to the Buyer (and the
Trustee) together with (x) an Opinion of Counsel to the effect that such Filing
is (i) consistent with transfer of the ownership interest to the Buyer pursuant
to the Section 2.1 of this Agreement, (ii) satisfies all requirements and
conditions to such Filing in this Agreement and (iii) satisfies the requirements
for a Filing of such type under the UCC in the applicable jurisdiction (or if
the UCC does not apply, the applicable statute governing the perfection of
security interests), and (y) a form of authorization for the Buyer's signature.
Upon receipt of such Opinion of Counsel and form of authorization, the Buyer
shall promptly authorize in writing the Seller to, and the Seller shall, effect
such Filing under the UCC. Notwithstanding anything else in this Agreement to
the contrary, the Seller shall not have any authority to effect a Filing without
obtaining written authorization from the Buyer in accordance with this paragraph
(8).

      Any reference in this Schedule to the Rating Agency Condition shall be
construed as if Standard & Poor's were the only Rating Agency.

                                       2-2<PAGE>

                                                                    Exhibit 4.13

                           RECEIVABLES SALE AGREEMENT

                                      among

                 GE COMMERCIAL DISTRIBUTION FINANCE CORPORATION,

                                  as a Seller,

                  TRANSAMERICA COMMERCIAL FINANCE CORPORATION,

                                  as a Seller,

                                       and

                               CDF FUNDING, INC.,

                                    as Buyer

                              Dated as of [ ], 2004

                                                      Receivables Sale Agreement

<PAGE>

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                                                      PAGE
<S>                                                                                                                   <C>
ARTICLE I             DEFINITIONS...............................................................................        1

         Section 1.1           Definitions......................................................................        1

         Section 1.2           Other Interpretive Matters.......................................................       12

ARTICLE II            SALES.....................................................................................       13

         Section 2.1           Sales............................................................................       13

         Section 2.2           Acceptance by Buyer..............................................................       14

         Section 2.3           Characterization of Transfers....................................................       14

         Section 2.4           Purchase Price...................................................................       14

         Section 2.5           Adjustments......................................................................       15

         Section 2.6           Addition of Accounts.............................................................       15

         Section 2.7           Removal of Accounts..............................................................       16

         Section 2.8           Additional Sellers...............................................................       17

         Section 2.9           Additional Originators...........................................................       17

ARTICLE III           CONDITIONS PRECEDENT......................................................................       17

         Section 3.1           Conditions to Initial Transfer...................................................       17

         Section 3.2           Conditions to all Transfers......................................................       18

ARTICLE IV            OTHER MATTERS RELATING TO SELLERS.........................................................       18

         Section 4.1           Merger or Consolidation of, or Assumption of the Obligations of, Sellers,etc.....       18

ARTICLE V             BANKRUPTCY EVENTS.........................................................................       19

         Section 5.1           Rights upon the Occurrence of a Bankruptcy Event.................................       19

ARTICLE VI            REPRESENTATIONS, WARRANTIES AND COVENANTS.................................................       19

         Section 6.1           Representations and Warranties of Seller.........................................       19

         Section 6.2           Affirmative Covenants of Seller..................................................       22

         Section 6.3           Negative Covenants of Seller.....................................................       23

ARTICLE VII           MISCELLANEOUS.............................................................................       24

         Section 7.1           Notices..........................................................................       24

         Section 7.2           No Waiver; Remedies..............................................................       26

         Section 7.3           Successors and Assigns...........................................................       26

         Section 7.4           Termination......................................................................       26

         Section 7.5           Survival.........................................................................       26
</TABLE>

                                       -i-            Receivables Sale Agreement
<PAGE>

                                TABLE OF CONTENTS
                                   (continued)

<TABLE>
<CAPTION>
                                                                                                                      PAGE
<S>                                                                                                                   <C>
         Section 7.6           Complete Agreement; Modification of Agreement....................................       27

         Section 7.7           GOVERNING LAW; CONSENT TO JURISDICTION; WAIVER OF JURY TRIAL.....................       27

         Section 7.8           Counterparts.....................................................................       28

         Section 7.9           Severability.....................................................................       28

         Section 7.10          Section Titles...................................................................       28

         Section 7.11          No Setoff........................................................................       28

         Section 7.12          Further Assurances...............................................................       28

         Section 7.13          Accounting Changes...............................................................       29

         Section 7.14          No Indirect or Consequential Damages.............................................       29
</TABLE>

SCHEDULES

         SCHEDULE 1                 List of Accounts

         SCHEDULE 6.1(a)(ii)        Sellers' UCC Information

         SCHEDULE 6.1(a)(vii)       Perfection Representations and Warranties

EXHIBITS

         EXHIBIT A   Form of Assignment

         EXHIBIT B   Form of Reassignment

         EXHIBIT C   Form of Opinion of Counsel with Respect to Additional
                     Accounts

                                      -ii-            Receivables Sale Agreement
<PAGE>

      RECEIVABLES SALE AGREEMENT, dated as of [ ], 2004 (this "Agreement"),
among GE COMMERCIAL DISTRIBUTION FINANCE CORPORATION, a Nevada corporation, as a
Seller, TRANSAMERICA COMMERCIAL FINANCE CORPORATION, a Delaware corporation, as
a Seller, and CDF FUNDING, INC., a Delaware corporation, as Buyer ("Buyer").

      In consideration of the premises and the mutual covenants hereinafter
contained, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as
follows:

                                   ARTICLE I

                                   DEFINITIONS

Section 1.1 Definitions.

      "Account" means each Initial Account and each Additional Account. The
term Account includes an Additional Account only from and after its Addition
Date and includes any Removed Account only prior to its Removal Date.

     "Accounting Changes" means, with respect to any Person, (a) changes in
accounting principles required by the promulgation of any rule, regulation,
pronouncement or opinion of the Financial Accounting Standards Board of the
American Institute of Certified Public Accountants (or any successor thereto or
any agency with similar functions); (b) changes in accounting principles
concurred by such Person's certified public accountants; (c) purchase accounting
adjustments under A.P.B. 16 or 17 and EITF 88-16, and the application of the
accounting principles set forth in FASB 109, including the establishment of
reserves pursuant thereto and any subsequent reversal (in whole or in part) of
such reserves; and (d) the reversal of any reserves established as a result of
purchase accounting adjustments.

      "Account Schedule" means a computer file or microfiche list or other list
containing a true and complete list of Accounts, identified by account number
(or by an alpha-numeric identifier that uniquely and objectively identifies the
applicable account number pursuant to a protocol that has been provided to
Buyer) and setting forth the receivables balance for each as of (i) the
applicable Addition Cut-Off Date, in the case of an Account Schedule relating to
Additional Accounts, (ii) the Removal Notice Date, in the case of an Account
Schedule relating to Removed Accounts or (iii) the date specified therein, in
the case of any other Account Schedule. Notwithstanding the foregoing, the
initial Account Schedule does not set forth receivables balances, and any
failure to set forth receivables balances in such a file or list shall not
impair the file's or list's effectiveness as an Account Schedule.

      "Addition Cut-Off Date" means, as to any Additional Account, the date
specified as such in the related Assignment.

      "Addition Date" means, as to any Additional Account, the date specified as
such in the related Assignment.

      "Additional Accounts" is defined in Section 2.6(a).

                                                      Receivables Sale Agreement

<PAGE>

      "Affiliate" means, with respect to any Person, (a) each Person that,
directly or indirectly, owns or controls, whether beneficially, or as a trustee,
guardian or other fiduciary, five percent (5%) or more of the securities having
ordinary voting power in the election of directors of such Person, (b) each
Person that controls, is controlled by or is under common control with such
Person, or (c) each of such Person's officers, directors, joint venturers and
partners. For the purposes of this definition, "control" of a Person means the
possession, directly or indirectly, of the power to direct or cause the
direction of its management or policies, whether through the ownership of voting
securities, by contract or otherwise.

      "Aggregate Reassignment Amount" means, for any reassignment of the
Transferred Receivables pursuant to Section 6.1(e), the aggregate outstanding
amount (comprising principal, interest and all other non-principal amounts
billed to the related Dealers) of such Transferred Receivables as of the end of
the preceding Monthly Period.

      "Agreement" is defined in the preamble.

      "Agreement Termination Date" is defined in Section 7.4.

      "Asset Based Lending Business" means the extensions of credit made by an
Originator to Dealers in order to provide loans based on the value of certain
assets of such Dealers.

      "Asset Based Lending Financing Agreement" means an asset based lending
financing agreement entered into by an Originator and a Dealer in connection
with the Asset Based Lending Business.

      "Assignment" is defined in Section 2.6(c).

      "Authorized Officer" means (a) with respect to any corporation or
statutory trust, the Chairman or Vice-Chairman of the Board, the President, any
Vice President, the Secretary, the Treasurer, any Assistant Secretary, any
Assistant Treasurer and each other officer or employee of such corporation or
trustee of such trust specifically authorized in resolutions of the Board of
Directors of such corporation or trustee of such trust to sign agreements,
instruments or other documents on behalf of such corporation or statutory trust
in connection with the transactions contemplated by the Related Documents, and
(b) with respect to a limited liability company, an officer or manager of such
limited liability company.

      "Bankruptcy Event" means, as to any Person, any of the following events:
(a) a case or proceeding shall have been commenced against such Person seeking a
decree or order in respect of such Person (i) under any Debtor Relief Law, (ii)
appointing a custodian, receiver, liquidator, assignee, trustee or sequestrator
(or similar official) for any such Person or for any substantial part of such
Person's assets, or (iii) ordering the winding-up or liquidation of the affairs
of any such Person; or (b) such Person shall (i) file a petition seeking relief
under any Debtor Relief Law, (ii) consent or fail to object in a timely and
appropriate manner to the institution of proceedings thereunder or to the filing
of any such petition or to the appointment of or taking possession by a
custodian, receiver, liquidator, assignee, trustee or sequestrator (or similar
official) for such Person or for any substantial part of such Person's assets,
(iii) make an assignment for the benefit of creditors, or (iv) take any
corporate or statutory trust action in furtherance of any of the foregoing.

                                       2              Receivables Sale Agreement
<PAGE>

      "Business Day" means any day that is not a Saturday, a Sunday or a day on
which banks are required or permitted to be closed in the State of New York or
the state of Master Servicer's principal place of business (currently
Connecticut).

      "Buyer" is defined in the preamble.

      "Closing Date" means [            ], 2004.

      "Collateral Security" means, with respect to any Receivable, (i) the
security interest, if any, granted by or on behalf of the related Dealer with
respect thereto, including a security interest in the related Products or
assets, (ii) all other security interests or liens and property subject thereto
from time to time purporting to secure payment of such Receivable, whether
pursuant to the agreement giving rise to such Receivable or otherwise, together
with all financing statements filed against a Dealer describing any collateral
securing such Receivable, (iii) all guarantees, insurance and other agreements
(including Floorplan Agreements and subordination agreements with other lenders)
or arrangements of whatever character from time to time supporting or securing
payment of such Receivable whether pursuant to the agreement giving rise to such
Receivable or otherwise, and (iv) all Records in respect of such Receivable.

      "Collections" means, without duplication, all payments by or on behalf of
Dealers received in respect of the Receivables (including proceeds from the
realization upon any Collateral Security) in the form of cash, checks, wire
transfers or any other form of payment. Collections that constitute Recoveries
shall be considered to be Collections of Non-Principal Receivables.

      "Credit and Collection Policies" means, with respect to a Seller, such
Seller's policies and procedures relating to the Receivables, including the
policies and procedures for determining the creditworthiness of Dealers and the
extension of credit to Dealers, and relating to the maintenance of Accounts and
collection of Receivables, as such policies and procedures may be amended from
time to time.

      "Date of Processing" means, as to any transaction, the Business Day on
which the transaction is first recorded on Master Servicer's computer file of
accounts (without regard to the effective date of such recordation).

      "Dealer" means a Person engaged generally in the business of purchasing
consumer or commercial goods from a manufacturer or distributor thereof and
holding such goods for sale or lease in the ordinary course of business or a
Person engaged generally in the business of manufacturing or distributing
consumer or commercial goods for sale to Dealers in the ordinary course of
business.

      "Dealer Overconcentration" shall be determined on each Determination Date.
A Dealer Overconcentration shall exist with respect to a Dealer (an
"Overconcentrated Dealer") if the aggregate Outstanding Balance of the Principal
Receivables (that are Transferred Receivables) owed by such Dealer exceeds the
applicable Dealer Concentration Limit. "Dealer Concentration Limit" is a dollar
amount calculated as a percentage (the "Concentration Limit Percentage") of the
Outstanding Balance of Principal Receivables (that are Transferred Receivables)
as of the end of each Monthly Period. If the Dealer is among the [ ] Dealers
owing the largest amount of

                                       3              Receivables Sale Agreement
<PAGE>

Principal Receivables as of the end of a Monthly Period (the "Top [ ] Dealers"),
the Concentration Limit Percentage shall equal [ ] percent ([ ]%). If the Dealer
is not among the Top [ ] Dealers, the Concentration Limit Percentage shall equal
[ ] percent ([ ]%). For purposes of the definitions of Dealer Overconcentration,
Overconcentrated Dealer and Top [ ] Dealers, a Dealer and all of its Affiliates
that are Dealers shall be considered to be a single Dealer.

      "Dealer Repurchase Option" means, with respect to a Dealer that has sold
Receivables to an Originator, the right of such Dealer (if any) to repurchase
such Receivables from such Originator.

      "Debtor Relief Laws" means Title 11 of the United States Code and all
other applicable liquidation, conservatorship, bankruptcy, moratorium,
rearrangement, receivership, insolvency, reorganization, suspension of payments,
readjustment of debt, marshalling of assets or similar debtor relief laws of the
United States, any state or any foreign country from time to time in effect,
affecting the rights of creditors generally.

      "Defaulted Receivables" on any Determination Date means all Receivables
(other than Ineligible Receivables and any Designated Ineligible Receivables) in
an Account which are charged off as uncollectible on or prior to such
Determination Date in respect of the immediately preceding Monthly Period in
accordance with the Sellers' customary and usual servicing procedures for
servicing Dealer receivables comparable to the Receivables which have not been
sold to third parties.

      "Designated Ineligible Receivable" means, without duplication, (i) any
Receivable that arises in an Eligible Account but was not an Eligible Receivable
at the time of its transfer to Buyer; (ii) any Receivable that, at the time of
its transfer to Buyer has been SAU or NSF for more than thirty (30) days; and
(iii) those Receivables, the aggregate Outstanding Balance of which, at the time
of transfer of each such Receivable to Buyer, have been SAU or NSF for a period
of one (1) to thirty (30) days but only to the extent that such Receivables'
aggregate Outstanding Balance exceeds [ ] percent ([ ]%) of the Outstanding
Balance of the Principal Receivables owned by the Issuer at the end of such
Monthly Period.

      "Designated Participation Interest" is defined in Section 2.6(b).

      "Determination Date" means the second Business Day preceding each Payment
Date.

      ["Discount Factor" is defined in the Second Tier Agreement.]

      "Eligible Account" means a revolving credit arrangement payable in U.S.
dollars between an Originator and a Dealer, which arrangement, as of the date of
determination with respect thereto: (a) is in favor of a Dealer (i) which is
doing business in the United States, (ii) which has not been identified by a
Seller as being the subject of any voluntary or involuntary bankruptcy
proceeding or being in a voluntary or involuntary liquidation, and (iii) in
which neither GE Capital nor any Affiliate thereof has an equity investment; (b)
is serviced by a Seller or an Affiliate thereof; and (c) arises under a
Financing Agreement that is in full force and effect.

      "Eligible Receivable" means a Receivable:

                                       4              Receivables Sale Agreement
<PAGE>

            (a)   that has arisen under an Eligible Account;

            (b)   that was created in compliance with the Credit and Collection
      Policies and all Requirements of Law applicable to the related Originator,
      other than those Requirements of Law the failure to comply with would not
      have a material adverse effect on Buyer or any of its creditors or
      assigns, and pursuant to a Financing Agreement that complies with all
      Requirements of Law applicable to the related Originator, other than those
      Requirements of Law the failure to comply with would not have a material
      adverse effect on Buyer or any of its creditors or assigns;

            (c)   with respect to which all consents, licenses, approvals or
      authorizations of, or registrations with, any Governmental Authority
      required to be obtained or made by the related Originator in connection
      with the creation of such Receivable or the execution, delivery and
      performance by the related Originator of the related Financing Agreement,
      have been duly obtained or made and are in full force and effect as of the
      date of creation of such Receivable, but failure to comply with this
      clause (c) shall not cause a Receivable not to be an Eligible Receivable
      if, and to the extent that, the failure to so obtain or make any such
      consent, license, approval, authorization or registration would not have a
      material adverse effect on Buyer or its assigns;

            (d)   as to which, at the time of its transfer to Buyer, the
      applicable Seller or Buyer will have good and marketable title free and
      clear of all Liens (other than Permitted Encumbrances);

            (e)   that is the subject of a valid transfer and assignment from
      the applicable Seller to Buyer of all Seller's right, title and interest
      therein;

            (f)   that at and after the time of transfer to Buyer is the legal,
      valid and binding payment obligation of the Dealer thereof, legally
      enforceable against such Dealer in accordance with its terms, except as
      enforceability may be limited by applicable Debtor Relief Laws, and by
      general principles of equity (whether considered in a suit at law or in
      equity);

            (g)   that constitutes an "account", "chattel paper" or "general
      intangible" within the meaning of UCC Section 9-102;

            (h)   as to which, at the time of its transfer to Buyer, the
      applicable Seller has not taken any action which, or failed to take any
      action the omission of which, would, at the time of transfer to Buyer,
      impair Buyer's rights therein;

            (i)   that, at the time of its transfer to Buyer, has not been
      waived or modified except as permitted by this Agreement;

            (j)   that, at the time of its transfer to Buyer, is not subject to
      any right of rescission, setoff, counterclaim or any other defense of the
      Dealer (including the defense of usury), other than defenses arising out
      of Debtor Relief Laws and except as the enforceability of such Receivable
      may be limited by general principles of equity (whether

                                       5              Receivables Sale Agreement
<PAGE>

      considered in a suit at law or equity) or as to which the applicable
      Seller makes an adjustment pursuant to Section 2.5;

            (k)   as to which, at the time of its transfer to Buyer, the
      applicable Seller has satisfied all obligations to be fulfilled by such
      Seller under the related Financing Agreement as of the time it is
      transferred to Buyer;

            (l)   which at the time of transfer to Buyer is secured, to the
      extent required by the related Financing Agreement, by, inter alia, a
      first priority perfected security interest (whether by prior filing,
      purchase money security interest, subordination agreement from prior
      filers or otherwise) in the related Product or other assets financed by
      the related advance (except that such security interest need not be a
      first priority security interest in the case of any Receivable if Buyer
      consents with respect thereto or if the requirement therefor has been
      waived in accordance with the Credit and Collection Policies); and

            (m)   that does not cause the Overconcentration Amount to exceed
      zero.

      "Financing Agreement" means a Wholesale Financing Agreement or Asset Based
Lending Financing Agreement.

      "Floorplan Agreement" means an agreement entered into by an Originator and
a Manufacturer establishing certain terms and conditions for the financing of
such Manufacturer's Dealers by such Originator, which may include such
Manufacturer's agreement, among other matters, to repurchase from, or remarket
for, such Originator Products sold by such Manufacturer to any of its Dealers
and financed by such Originator under a Wholesale Financing Agreement if such
Originator acquires possession of such Products because of a default by such
Dealer under such Wholesale Financing Agreement, whether by repossession,
voluntary surrender or other circumstances.

      "Floorplan Business" means the extensions of credit made by an Originator
to Dealers in order to finance Products purchased by Dealers from Manufacturers
for sale or lease by such Dealers.

      "GAAP" means generally accepted accounting principles in the United States
of America in effect from time to time.

      "GE Capital" means General Electric Capital Corporation, a Delaware
corporation.

      "Governmental Authority" means any nation or government, any state or
other political subdivision thereof, and any agency, department or other entity
exercising executive, legislative, judicial, regulatory or administrative
functions of or pertaining to government.

      "Indenture" means the Master Indenture dated as of [   ], 2004 between the
Issuer and Wilmington Trust Company, as indenture trustee.

      "Indenture Supplement" means a supplement to the Indenture executed and
delivered pursuant to the Indenture.

                                       6              Receivables Sale Agreement
<PAGE>

      "Ineligible Account" means an Account that at the time of determination is
not an Eligible Account.

      "Ineligible Receivable" is defined in Section 6.1(c).

      "Initial Account" means each individual revolving credit arrangement
established by an Originator with a Dealer which was identified in the Account
Schedule delivered in connection with the execution and delivery of this
Agreement.

      "Insurance Proceeds" with respect to an Account means any amounts received
pursuant to any policy of insurance which are required to be paid to an
Originator pursuant to a Wholesale Financing Agreement or Asset Based Lending
Financing Agreement.

      "Issuer" means GE Dealer Floorplan Master Note Trust, a Delaware statutory
trust.

      "Lien" means any mortgage or deed of trust, pledge, hypothecation,
assignment, deposit arrangement, lien, charge, claim, security interest,
easement or encumbrance, or preference, priority or other security agreement or
preferential arrangement of any kind or nature whatsoever (including any lease
or title retention agreement, any financing lease having substantially the same
economic effect as any of the foregoing, and the filing of, or agreement to
give, any financing statement perfecting a security interest under the UCC or
comparable law of any jurisdiction).

      "Litigation" means, with respect to any Person, any action, claim,
lawsuit, demand, investigation or proceeding pending or threatened against such
Person before any court, board, commission, agency or instrumentality of any
federal, state, local or foreign government or of any agency or subdivision
thereof or before any arbitrator or panel of arbitrators.

      "Manufacturer" means a Person engaged generally in the business of
manufacturing or distributing Products for sale or lease to Dealers in the
ordinary course of business.

      "Manufacturer Overconcentration" means, on any Determination Date, with
respect to all Accounts covered by a Floorplan Agreement with the same
Manufacturer as obligor, the excess, if any, of (a) the aggregate Outstanding
Balance of Principal Receivables (that are Transferred Receivables) in such
Accounts on the last day of the Monthly Period immediately preceding such
Determination Date that are covered by such Floorplan Agreement over (b) [ ]
percent ([ ]%) of the Outstanding Balance of Principal Receivables (that are
Transferred Receivables) on the last day of such Monthly Period (in the case of
each of the Manufacturers that is among the [ ] Manufacturers which are parties
to Floorplan Agreements covering the largest aggregate Outstanding Balance of
Principal Receivables that are Transferred Receivables), or [ ] percent ([ ]%)
of the Outstanding Balance of Principal Receivables (that are Transferred
Receivables) on the last day of such Monthly Period (in the case of
Manufacturers other than such top [ ] Manufacturers) or, in each case, if Buyer
consents, such larger percentage of the Outstanding Balance of Principal
Receivables as is stated in the notice from Buyer providing its consent.

      "Master Servicer" means GE Capital, in its capacity as master servicer
under the Servicing Agreement, or any other Person designated as a successor
master servicer pursuant to the Servicing Agreement.

                                       7              Receivables Sale Agreement
<PAGE>

      "Material Adverse Effect" means, with respect to a Seller, a material
adverse effect on (a) the ability of such Seller to perform any of its
obligations under the Related Documents in accordance with the terms thereof,
(b) the validity or enforceability of any Related Document or the rights and
remedies of Buyer under any Related Document with respect to such Seller, or (c)
the Transferred Receivables (including the collectibility of the Transferred
Receivables and the security interests and other rights securing and supporting
the payment of the Transferred Receivables), the Financing Agreements therefor
or the ownership interests or Liens of any Seller or Buyer thereon or the
priority of such interests or Liens.

      "Monthly Period" means a calendar month.

      "Non-Principal Collections" means the sum of (a) Collections of interest
and all other non-principal charges (including insurance service fees and
handling fees) on the Receivables, [(b) the product of (i) principal payments on
the Receivables and (ii) the Discount Factor,] and (c) all Recoveries.

      "Non-Principal Receivables" with respect to any Account means all amounts
billed to the related Dealer in respect of interest and all other non-principal
charges.

      "NSF" means, with respect to a Receivable, that a check in payment of such
Receivable has been returned because of insufficient funds and has not
thereafter been paid.

      "Officer's Certificate" means, with respect to any Person, a certificate
signed by an Authorized Officer of such Person.

      "Opinion of Counsel" means a written opinion of counsel, who may be
counsel for, or an employee of, the Person providing the opinion.

      "Originator" means a Seller or any other originator so designated pursuant
to Section 2.9.

      "Originator Guaranty" means the Originator Performance Guaranty dated as
of [ ], 2004 made by GE Capital.

      "Outstanding Balance" means, with respect to any Principal Receivable, the
outstanding amount of such Principal Receivable; provided, that the Outstanding
Balance of a Defaulted Receivable shall equal zero.

      "Overconcentration Amount" means, on any Determination Date, the sum of
the Dealer Overconcentration, the Manufacturer Overconcentration, the Product
Line Overconcentration and the Unsecured Receivable Overconcentration on such
Determination Date.

      "Participation Agreement" means an agreement between an Originator and a
lender pursuant to which such Originator conveys to such lender an undivided
interest in certain receivables that is pari passu in all respects (other than
nonsubordinated interest strips and fees) with the undivided interest retained
by such Originator.

      "Participation Interest" means the undivided interest, created pursuant to
a Participation Agreement, in a receivable in which a Receivable represents the
remaining undivided interest.

                                       8              Receivables Sale Agreement
<PAGE>

      "Payment Date" means, except as otherwise specified in any Indenture
Supplement for the Series relating thereto, the twentieth (20th) day of each
calendar month, or if the twentieth (20th) day is not a Business Day, the next
Business Day.

      "Permitted Encumbrances" means the following: (a) Liens for taxes or
assessments or other governmental charges not yet due and payable; (b) inchoate
and unperfected workers', mechanics', suppliers' or similar Liens arising in the
ordinary course of business; (c) presently existing or hereinafter created Liens
in favor of, or created by, Buyer; (d) any Lien created or permitted by any
Related Document; (e) any Lien created by any Participation Agreement; (f) any
security interests in assets that are subordinate to the security interests
securing the related Receivables; and (g) any Dealer Repurchase Option that has
not been exercised by the applicable Dealer.

      "Person" means any individual, sole proprietorship, partnership, joint
venture, unincorporated organization, trust (including a business trust),
association, corporation, limited liability company, institution, public benefit
corporation, joint stock company, Governmental Authority or any other entity of
whatever nature.

      "Principal Collections" means Collections other than Non-Principal
Collections. Amounts paid by a Seller pursuant to Section 2.5 shall be deemed to
be Principal Collections.

      "Principal Receivable" with respect to an Account means amounts shown on
the Seller's records as Receivables (other than such amounts which represent
Non-Principal Receivables) payable by the related Dealer.

      "Product Line Overconcentration" means, on any Determination Date, the
excess, if any, of (a) the aggregate Outstanding Balance of Principal
Receivables (that are Transferred Receivables) that represent financing for a
single Product line (according to the applicable Seller's classification system)
on the last day of the Monthly Period immediately preceding such Determination
Date over (b)(i) [ ] percent ([ ]%) of the Outstanding Balance of Principal
Receivables (that are Transferred Receivables) on the last day of such Monthly
Period if such Product line is not recreational vehicles or boats or boat
motors, (ii) [ ] percent ([ ]%) of that Outstanding Balance of Principal
Receivables (that are Transferred Receivables) if such Product line is
recreational vehicles, or (iii) [ ] percent ([ ]%) of that Outstanding Balance
of Principal Receivables (that are Transferred Receivables) if such Product line
is boats or boat motors or, in the case of clause (i), (ii) or (iii), if Buyer
consents, such larger percentage of the Outstanding Balance of Principal
Receivables as is stated in the applicable notice from Buyer providing its
consent.

      "Products" means the commercial and consumer goods financed by an
Originator for Dealers.

      "Purchase Date" means the Closing Date and, thereafter, each Business Day.

      "Purchase Price" is defined in Section 2.4(a).

      "Reassignment" is defined in Section 2.7(a).

                                       9              Receivables Sale Agreement
<PAGE>

      "Receivable" means, with respect to an Account, all amounts payable
(including interest, finance charges and other charges), and the obligation to
pay such amounts, by the related Dealer from time to time in respect of advances
made by an Originator to or on behalf of such Dealer in connection with the
Floorplan Business or the Asset Based Lending Business, as the case may be,
[together with the group of writings evidencing such amounts and the security
interest created in connection therewith and all of the rights, remedies, powers
and privileges thereunder (including under the related Financing Agreement)];
provided, that if a Participation Interest has been created in respect of such
Account, whether before or after such Account has been designated as an Account,
the amounts so payable by the related Dealer that are allocable to such
Participation Interest shall not be part of the "Receivables" in respect of such
Account. A Receivable that, prior to its transfer to Buyer, was subject to a
participation from an Originator in favor of another Originator shall be
considered a Receivable.

      "Records" means, with respect to any Receivables, all Financing Agreements
and other documents, books, records and other information (including computer
programs, tapes, disks, data processing software and related property and
rights) relating to such Receivable and the related Dealer.

      "Recoveries" on any date means all amounts received, including Insurance
Proceeds, during the Monthly Period immediately preceding such date with respect
to Receivables which have previously become Defaulted Receivables.

      "Related Documents" means this Agreement, the Second Tier Agreement, the
Trust Agreement, the Servicing Agreement, the Indenture, any Indenture
Supplement and all other pledges, powers of attorney, consents, assignments,
contracts, notices, and all other written matter whether heretofore, now or
hereafter executed by or on behalf of any Person, or any employee of any Person,
and delivered in connection with any of the foregoing or the transactions
contemplated thereby.

      "Removed Account" means an Account that is removed from the Account
Schedule in accordance with Section 2.7.

      "Removal Date" is defined in Section 2.7(a).

      "Removal Notice Date" is defined in Section 2.7(a).

      "Requirements of Law" means, as to any Person, the certificate of
incorporation or articles of association and by-laws or other organizational or
governing documents of such Person, and any law, treaty, rule or regulation, or
determination of an arbitrator or Governmental Authority, in each case
applicable to or binding upon such Person or to which such Person is subject,
whether federal, state or local.

      "S&P" means Standard & Poor's Ratings Services, a division of The McGraw -
Hill Companies, Inc.

      "SAU" means, with respect to a Receivable, that if such Receivable was
originally secured by a security interest in a Product, such Product has been
sold and such Receivable is not paid in full.

                                       10             Receivables Sale Agreement
<PAGE>

      "Second Tier Agreement" means the Receivables Purchase and Contribution
Agreement dated as of [ ], 2004, between Buyer and Issuer.

      "Seller" means GE Commercial Distribution Finance Corporation,
Transamerica Commercial Finance Corporation or any additional Person designated
as a "Seller" in accordance with Section 2.8.

      "Seller Termination Date" is defined in Section 7.4.

      "Series" means a series of notes issued under the Indenture.

      "Servicing Agreement" means the Servicing Agreement dated as of [ ], 2004,
between Master Servicer and the Issuer.

      "Sub-Servicer" means any Person with whom Master Servicer enters into a
Sub-Servicing Agreement.

      "Sub-Servicing Agreement" means any written contract entered into between
Master Servicer and any Sub-Servicer relating to the servicing, administration
or collection of any Transferred Receivables.

      "Subsidiary" means, with respect to any Person, any corporation or other
entity (a) of which securities or other ownership interests having ordinary
voting power to elect a majority of the board of directors or other Persons
performing similar functions are at the time directly or indirectly owned by
such Person or (b) that is directly or indirectly controlled by such Person
within the meaning of control under Section 15 of the Securities Act of 1933.

      "Transfer Date" means, with respect to a Transferred Receivable, the date
on which Buyer acquires such Transferred Receivable from a Seller pursuant to
Section 2.1 or any Assignment.

      "Transferred Assets" is defined in Section 2.1(a).

      "Transferred Receivable" means any Receivable purchased by Buyer from a
Seller pursuant to this Agreement or any Assignment, including Principal
Receivables and Non-Principal Receivables that exist at the time of purchase of
any Principal Receivables in the same Account or that arise in an Account after
the date of purchase of Principal Receivables in the Account. However,
Receivables that are repurchased by a Seller pursuant to this Agreement or
purchased by Master Servicer pursuant to the Servicing Agreement shall cease to
be considered "Transferred Receivables" from the date of such purchase.

      "Trust Agreement" means the Amended and Restated Trust Agreement dated as
of [ ], 2004, between Buyer and The Bank of New York (Delaware), as trustee.

      "UCC" means, with respect to any jurisdiction, the Uniform Commercial Code
as the same may, from time to time, be enacted and in effect in such
jurisdiction.

                                       11             Receivables Sale Agreement
<PAGE>

      "United States" means the United States of America, together with its
territories and possessions.

      "Unsecured Receivable Business" means the unsecured extensions of credit
made by a Seller to Dealers.

      "Unsecured Receivable Financing Agreement" means an unsecured financing
agreement entered into by a Seller with a Dealer in connection with its
Unsecured Receivable Business with such Dealer, as amended or modified from time
to time.

      "Unsecured Receivable Overconcentration" means, on any Determination Date,
the excess, if any, of (a) the Outstanding Balance of Principal Receivables
(that are Transferred Receivables) in Accounts created pursuant to Unsecured
Receivable Financing Agreements as of the last day of the Monthly Period
immediately preceding such Determination Date over (b) [ ] percent ([ ]%) of the
Outstanding Balance of Principal Receivables (that are Transferred Receivables)
on the last day of such Monthly Period or, if Buyer consents, such larger
percentage of the Outstanding Balance of Principal Receivables as is stated in
the notice from Buyer providing its consent.

      "Unsecured Receivables" means Receivables arising from the Unsecured
Receivable Business.

      "Wholesale Financing Agreement" means a wholesale financing agreement
entered into by an Originator and a Dealer in order to finance Products
purchased by such Dealer from a Manufacturer.

      Section 1.2 Other Interpretive Matters. All terms defined directly or by
incorporation in this Agreement shall have the defined meanings when used in any
certificate or other document delivered pursuant thereto unless otherwise
defined therein. For purposes of this Agreement and all related certificates and
other documents, unless the context otherwise requires: (a) accounting terms not
otherwise defined in this Agreement, and accounting terms partly defined in this
Agreement to the extent not defined, shall have the respective meanings given to
them under GAAP; (b) unless otherwise provided; references to any month, quarter
or year refer to a calendar month, quarter or year; (c) terms defined in Article
9 of the UCC as in effect in the applicable jurisdiction and not otherwise
defined in this Agreement are used as defined in that Article; (d) references to
any amount as on deposit or outstanding on any particular date means such amount
at the close of business on such day; (e) the words "hereof," "herein" and
"hereunder" and words of similar import refer to this Agreement (or the
certificate or other document in which they are used) as a whole and not to any
particular provision of this Agreement (or such certificate or document); (f)
references to any Section, Schedule or Exhibit are references to Sections,
Schedules and Exhibits in or to this Agreement (or the certificate or other
document in which the reference is made), and references to any paragraph,
subsection, clause or other subdivision within any Section or definition refer
to such paragraph, subsection, clause or other subdivision of such Section or
definition; (g) the term "including" means "including without limitation"; (h)
references to any law or regulation refer to that law or regulation as amended
from time to time and include any successor law or regulation; (i) references to
any agreement refer to that agreement as from time to time amended, restated or

                                       12             Receivables Sale Agreement
<PAGE>

supplemented or as the terms of such agreement are waived or modified in
accordance with its terms; and (j) references to any Person include that
Person's successors and permitted assigns.

                                  ARTICLE II.

                                      SALES

      Section 2.1 Sales.

      (a)   By execution of this Agreement, each Seller does hereby transfer,
assign, set over and otherwise convey to Buyer, without recourse except as
provided herein, all its right, title and interest in, to and under, the
following (the "Transferred Assets"): (i) the Receivables existing at the
opening of business on the Closing Date, and thereafter created from time to
time until the Agreement Termination Date (or, if applicable, the Seller
Termination Date relating to such Seller), together with the Collateral Security
and Collections with respect thereto and related Recoveries, in each case
together with all monies due or to become due and all amounts received or
receivable with respect thereto and Insurance Proceeds relating thereto, (ii)
without limiting the generality of the foregoing or the following, all of such
Seller's rights to receive payments from any Dealer in respect of such
Receivables and (iii) all proceeds of all of the foregoing. The foregoing does
not constitute and is not intended to result in the creation or assumption by
Buyer of any obligation of any Seller or any other Person in connection with the
Accounts or the Transferred Receivables or under any agreement or instrument
relating thereto, including any obligation under the Financing Agreements, the
Floorplan Agreements or any Participation Agreement or any obligation to any
Dealer or any Manufacturer. The foregoing conveyance shall be effective (x) on
the Closing Date, as to all Transferred Assets then existing, and (y) on each
Purchase Date, as to all Transferred Assets arising since the prior Purchase
Date.

      (b)   Each Seller agrees, at its own expense, (i) on or prior to (x) the
Closing Date, in the case of the Initial Accounts, (y) the applicable Addition
Date, in the case of Additional Accounts, and (z) the applicable Removal Date,
in the case of Removed Accounts, to indicate, or cause to be indicated, in the
appropriate computer files that Receivables created (or reassigned, if
applicable, in the case of Removed Accounts) in connection with the Accounts
have been conveyed to Buyer pursuant to this Agreement (or conveyed to a Seller
or its designee, if applicable, in accordance with Section 2.7, in the case of
Removed Accounts) by including, or causing to be included, in such computer
files a code so identifying each such Account (or, in the case of Removed
Accounts, deleting, or causing to be deleted, such code thereafter) and (ii) on
or prior to the date referred to in clauses (i)(x), (y) or (z), as applicable,
to deliver to Buyer an Account Schedule. The initial such Account Schedule, as
supplemented from time to time to reflect Additional Accounts and Removed
Accounts, shall be marked as Schedule 1 to this Agreement and is hereby
incorporated into and made a part of this Agreement. Once the code referenced in
clause (i) of this paragraph has been included with respect to any Account, each
Seller further agrees not to permit such code to be altered during the remaining
term of this Agreement unless and until (x) such Account becomes a Removed
Account, or (y) such Seller shall have delivered to Buyer at least thirty (30)
days' prior written notice of its intention to do so and has taken such action
as is necessary or advisable to cause the interest of Buyer in the Transferred
Receivables to continue to be perfected with the priority required by this
Agreement.

                                       13             Receivables Sale Agreement
<PAGE>

      (c)   Notwithstanding the foregoing, a Seller shall not sell a Receivable
to Buyer if the Dealer relating to such Receivable has notified such Seller that
such Dealer intends to exercise its Dealer Repurchase Option with respect to
such Receivable. Each Seller shall manage its relationships with its Dealers in
such a manner as to minimize the circumstances under which such Dealers would be
permitted to exercise Dealer Repurchase Options.

      Section 2.2 Acceptance by Buyer.

      (a)   Buyer hereby acknowledges its acceptance of all right, title and
interest to the property, now existing and hereafter created, conveyed to Buyer
pursuant to Section 2.1. Buyer shall maintain a copy of Schedule 1, as delivered
to it from time to time.

      (b)   Buyer hereby agrees not to disclose to any Person any account
numbers or other information contained in the Account Schedule marked as
Schedule 1 and delivered to Buyer, from time to time, except (i) to Master
Servicer, any Sub-Servicer or as required by a Requirement of Law applicable to
Buyer, (ii) in connection with the performance of Buyer's duties hereunder,
(iii) to the indenture trustee under the Indenture in connection with its duties
or (iv) to bona fide creditors or potential creditors of Master Servicer or a
Seller for the limited purpose of enabling any such creditor to identify
Transferred Receivables or Accounts subject to this Agreement. Buyer agrees to
take such measures as shall be reasonably requested by a Seller to protect and
maintain the security and confidentiality of such information and, in connection
therewith, shall allow each Seller or its duly authorized representatives to
inspect Buyer's security and confidentiality arrangements from time to time
during normal business hours upon prior written notice. Buyer shall promptly
notify each Seller of any request received by Buyer to disclose information of
the type described in this Section 2.2(b), which notice shall in any event be
provided no later than five (5) Business Days prior to disclosure of any such
information unless Buyer is compelled pursuant to a Requirement of Law to
disclose such information prior to the date that is five (5) Business Days after
the giving of such notice.

      Section 2.3 Characterization of Transfers. The parties hereto intend that
each transfer of the Transferred Assets shall constitute a sale by each Seller
to Buyer and not a loan by Buyer to a Seller secured by the Transferred Assets.
If, contrary to the intent of the parties hereto, a court of competent
jurisdiction determines that any transaction provided for herein constitutes a
loan and not a sale of the Transferred Assets, then this Agreement shall
constitute a security agreement under applicable law and each Seller shall be
deemed to have granted, and each Seller hereby grants, to Buyer a security
interest in and to all of such Seller's right, title and interest in, to and
under the Transferred Assets.

      Section 2.4 Purchase Price.

      (a)   The purchase price for the Transferred Receivables and the other
Transferred Assets related thereto shall equal the fair market value of such
Transferred Receivables as agreed upon by Buyer and the applicable Seller prior
to such sale (such amount for any Transferred Assets, the "Purchase Price").

      (b)   The Purchase Price for any Transferred Assets sold by a Seller shall
be payable in full in cash on each Purchase Date or less frequently if so agreed
between Buyer and Seller;

                                       14             Receivables Sale Agreement
<PAGE>

provided, however, that Buyer may, with respect to any sale, offset against such
Purchase Price any amounts owed by the applicable Seller to Buyer hereunder and
which remain unpaid. On each such Purchase Date or other date set by the parties
for payment, Buyer shall, upon satisfaction of the applicable conditions set
forth in Article III, make available to the applicable Seller the Purchase Price
for the applicable Transferred Assets in same day funds.

      Section 2.5 Adjustments. If on any day the outstanding amount of any
Principal Receivable is reduced because of a rebate, refund, unauthorized charge
or billing error to a Dealer, or because such Principal Receivable was created
in respect of merchandise which was refused or returned by a Dealer, or if the
outstanding amount of any Principal Receivable is otherwise reduced other than
on account of Collections thereof or such amount being charged-off as
uncollectible, then the applicable Seller shall compensate Buyer for such
reduction in the outstanding amount of such Principal Receivable as provided
below. Any adjustment required pursuant to the preceding sentence shall be made
not later than the second Business Day after the Date of Processing for the
event giving rise to such adjustment or less frequently if so agreed between
Buyer and the applicable Seller. The amount of each such reduction shall be
deducted from the amount of the Purchase Price payable by Buyer to such Seller
on the Purchase Date that coincides with or next follows the date of the
adjustment, and such Seller shall pay Buyer on that Purchase Date any excess of
the aggregate amount of such reductions over the aggregate Purchase Price
otherwise payable to such Seller on that Purchase Date. Notwithstanding the
foregoing, on any Purchase Date the aggregate amount of such reductions shall be
paid gross by the applicable Seller to Buyer, without netting against the
Purchase Price, to the extent that Buyer informs such Seller that Buyer requires
funds to make payments on account of such reductions under any of the Related
Documents.

      Section 2.6 Addition of Accounts.

      (a)   Additional Accounts. From time to time, a Seller may designate
additional Eligible Accounts ("Additional Accounts") to be included as Accounts.

      (b)   Designated Participation Interests. In lieu of, or in addition to,
designating Additional Accounts as contemplated by subsection (a) above, a
Seller may convey to Buyer participations or trust certificates representing
undivided or beneficial interests in a pool of assets primarily consisting of
receivables arising under dealer floorplan loan credit arrangements owned by
such Seller or any of its Affiliates and collections thereon ("Designated
Participation Interests"). Each Seller and Buyer will enter into a supplement to
this Agreement relating to the conveyance of any Designated Participation
Interest. Any conveyance of a Designated Participation Interest under this
subsection (b) shall occur only upon satisfaction of the conditions for
conveyances of Designated Participation Interests under [Section 2.6(c)] of the
Second Tier Agreement.

      (c)   Conditions for Additions of Additional Accounts. Any sale of
Receivables from Additional Accounts shall occur only upon satisfaction of the
following conditions (to the extent provided below):

            (i)   on or before the Addition Date, the applicable Seller shall
      have delivered to Buyer, (x) a written assignment in substantially the
      form of Exhibit A (the

                                       15             Receivables Sale Agreement
<PAGE>

      "Assignment"), and such Seller shall indicate in its computer files that
      the Receivables created in connection with the Additional Accounts have
      been transferred to Buyer, and (y) an Account Schedule reflecting the
      addition of such Additional Accounts (which Account Schedule shall be
      attached as a schedule to such Assignment);

            (ii)  such Seller shall deliver an Opinion of Counsel with respect
      to the Receivables in the Additional Accounts to Buyer (in such numbers
      and with such additional addressees as Buyer may reasonably request)
      substantially in the form of Exhibit C (with appropriate modifications);

            (iii) such Seller shall not make more than one such designation per
      Dealer in any one Monthly Period; and

            (iv)  Buyer shall have determined that all requirements relating to
      the designation of such Additional Accounts imposed by Buyer under the
      Second Tier Agreement have been satisfied.

      Section 2.7 Removal of Accounts.

      (a)   From time to time, but not more frequently than once during each
Monthly Period for any Dealer, a Seller may request (which request Buyer may
deny): (i) the removal of one or more Accounts from the Account Schedule, and
(ii) if any such Account was not an Eligible Account at the time such Account
was originally added to the Account Schedule, the reassignment to such Seller or
its designee of all Buyer's right, title and interest in, to and under (A) the
Transferred Receivables then existing and thereafter created in such Account,
(B) the Collateral Security, Collections and Recoveries with respect thereto,
and (C) all monies due or to become due and all amounts received or receivable
with respect thereto and Insurance Proceeds relating thereto. Any such removal
and reassignment shall be subject to the satisfaction of the following
conditions:

            (i)   on or before the tenth Business Day immediately preceding the
      Removal Date (the "Removal Notice Date"), the applicable Seller shall have
      given Buyer written notice of such request and specifying the date for
      removal of the proposed Removed Accounts (the "Removal Date");

            (ii)  Buyer shall have delivered its written consent for such
      removal to such Seller;

            (iii) on or prior to the Removal Date, such Seller shall have
      delivered to Buyer a schedule listing the proposed Removed Accounts and a
      schedule listing the Accounts that are not proposed to be Removed Accounts
      (which schedules shall be attached as schedules to such Reassignment); and

            (iv)  such Seller shall have delivered to Buyer an Officer's
      Certificate, dated as of the Removal Date, to the effect that (i) no
      selection procedure believed by such Seller to be materially adverse to
      the interest of Buyer or any of its creditors has been used in removing
      Removed Accounts; and (ii) Accounts (or administratively convenient groups
      of Accounts) were chosen for removal on a random basis or another basis
      not involving

                                       16             Receivables Sale Agreement
<PAGE>

      adverse selection that such Seller believes is consistent with achieving
      derecognition of the Transferred Receivables under GAAP.

      Upon satisfaction of the above conditions (and subject to receipt by Buyer
of the reassignment price agreed upon between Buyer and the applicable Seller):
(i) Buyer shall execute and deliver to the applicable Seller or its designee a
written reassignment in substantially the form of Exhibit B (the
"Reassignment"); (ii) the Account Schedule shall be deemed to have been amended
to remove such Removed Accounts; and (iii) if such Removed Accounts were not
Eligible Accounts at the time such Accounts were originally designated as
Accounts, Buyer shall, without further action, be deemed to transfer, assign,
set over and otherwise convey to Seller or its designee, effective as of the
Removal Date, without recourse, representation or warranty, all the right, title
and interest of Buyer in and to the Transferred Receivables arising in such
Removed Accounts, the Collateral Security and Collections and Recoveries with
respect thereto, and all monies due or to become due and all amounts received or
receivable with respect thereto and Insurance Proceeds relating thereto and all
proceeds of the foregoing). In addition, Buyer shall execute such other
documents and instruments of transfer or assignment and take such other actions
as shall reasonably be requested by Seller to effect the conveyance of
Transferred Receivables pursuant to clause (iii) of the previous sentence.

      Section 2.8 Additional Sellers. A Seller may designate additional or
substitute Persons to be included as Sellers by an amendment to this Agreement
upon Buyer's consent (without the consent of any other party hereto), which
consent Buyer covenants to grant if Buyer is permitted to consent to such
designation under the Second Tier Agreement.

      Section 2.9 Additional Originators. A Seller may designate additional
Persons as Originators by an amendment to this Agreement upon Buyer's consent
(without the consent of any other party hereto), which consent Buyer covenants
to grant if Buyer is permitted to consent to such designation under the Second
Tier Agreement.

                                   ARTICLE III

                              CONDITIONS PRECEDENT

      Section 3.1 Conditions to Initial Transfer. The initial sale or conveyance
hereunder shall be subject to satisfaction of each of the following conditions
precedent (any one or more of which may be waived in writing by Buyer) as of the
Closing Date:

      (a)   Documents. This Agreement or counterparts hereof shall have been
duly executed by, and delivered to, the initial Sellers and Buyer, and Buyer
shall have received such documents, instruments, agreements and legal opinions
as Buyer shall reasonably request in connection with the transactions
contemplated by this Agreement, each in form and substance reasonably
satisfactory to Buyer.

      (b)   Governmental Approvals. Buyer shall have received satisfactory
evidence that the initial Sellers have obtained all consents and approvals of
all Persons, including all requisite Governmental Authorities, if any, required
for the initial Sellers to execute, deliver and perform this Agreement and to
consummate the transactions contemplated hereby.

                                       17             Receivables Sale Agreement
<PAGE>

      (c)   Compliance with Laws. Each initial Seller shall be in compliance
with all applicable foreign, federal, state and local laws and regulations,
except to the extent that the failure to so comply, individually or in the
aggregate, could not reasonably be expected to have a Material Adverse Effect.

      Section 3.2 Conditions to all Transfers. Each sale by a Seller hereunder
(including the initial sale) shall be subject to satisfaction of the following
further conditions precedent (any one or more of which, except clause (b) below,
may be waived in writing by Buyer) as of the Transfer Date therefor:

      (a)   the representations and warranties of such Seller contained herein
or in any other Related Document required to be made on such Transfer Date shall
be true and correct in all material respects as of such Transfer Date, both
before and after giving effect to such sale; and

      (b)   such Seller shall be in compliance in all material respects with
each of its covenants and other agreements set forth herein.

The consummation by a Seller of the sale, as applicable, of Transferred Assets
on any Transfer Date shall be deemed to constitute, as of any such Transfer
Date, a representation and warranty by such Seller that the conditions in
clauses (a) and (b) of this Section 3.2 have been satisfied as of such Transfer
Date.

                                   ARTICLE IV

                        OTHER MATTERS RELATING TO SELLERS

      Section 4.1 Merger or Consolidation of, or Assumption of the Obligations
of, Sellers, etc.

      (a)   A Seller shall not consolidate with or merge into any other Person
or convey or transfer its properties and assets substantially as an entirety
to any Person unless:

            (i)   the Person formed by such consolidation or into which such
      Seller is merged or the Person which acquires by conveyance or transfer
      the properties and assets of such Seller substantially as an entirety
      shall be, if such Seller is not the surviving entity, an entity organized
      and existing under the laws of the United States of America or any State
      or the District of Columbia, and, if such Seller is not the surviving
      entity, such entity shall expressly assume, by an agreement supplemental
      hereto, executed and delivered to Buyer, in form reasonably satisfactory
      to Buyer, the performance of every covenant and obligation of such Seller
      hereunder;

            (ii)  such Seller has delivered to Buyer (A) an Officer's
      Certificate stating that such consolidation, merger, conveyance or
      transfer and such supplemental agreement comply with this Section and that
      all conditions precedent herein provided for relating to such transaction
      have been complied with, and (B) an Opinion of Counsel to the effect that
      such supplemental agreement is a valid and binding obligation of such
      surviving entity enforceable against such surviving entity in accordance
      with its terms, except as such enforceability may be limited by applicable
      bankruptcy, insolvency, reorganization,

                                       18             Receivables Sale Agreement
<PAGE>

      moratorium or other similar laws affecting creditors' rights generally
      from time to time in effect and except as such enforceability may be
      limited by general principles of equity (whether considered in a suit at
      law or in equity);

            (iii) if such Seller is not the surviving entity, (A) the surviving
      entity shall file a new UCC financing statement with respect to the
      interest of Buyer in the Transferred Assets, if any, and (B) GE Capital
      confirms in writing to Buyer that the Originator Guaranty applies to the
      surviving entity; and

            (iv)  prior written notice shall have been delivered to Buyer with
      respect to such merger, conveyance or transfer.

      (b)   This Section 4.1 shall not be construed to prohibit or in any way
limit a Seller's ability to effectuate any consolidation or merger pursuant to
which such Seller would be the surviving entity.

      (c)   The obligations of a Seller hereunder shall not be assignable nor
shall any Person succeed to the obligations of a Seller hereunder except in each
case in accordance with (i) the provisions of the foregoing paragraphs, (ii)
Section 2.8 or (iii) conveyances, mergers, consolidations, assumptions, sales or
transfers to other entities (1) for which such Seller delivers an Officer's
Certificate to Buyer indicating that such Seller reasonably believes that such
action will not result in a Material Adverse Effect, (2) which meet the
requirements of clause (ii) of paragraph (a) and (3) for which such purchaser,
transferee, pledgee or entity shall expressly assume, in an agreement
supplemental hereto, executed and delivered to Buyer in writing in form
satisfactory to Buyer, the performance of every covenant and obligation of such
Seller thereby conveyed.

                                   ARTICLE V

                                BANKRUPTCY EVENTS

      Section 5.1 Rights upon the Occurrence of a Bankruptcy Event. If a
Bankruptcy Event occurs with respect to a Seller, such Seller shall on the day
any such event occurs, immediately cease to transfer Receivables to Buyer and
shall promptly give notice of such event to the indenture trustee under the
Indenture and Buyer. Notwithstanding any cessation of the transfer to Buyer of
additional Receivables, Receivables transferred to Buyer prior to the occurrence
of such Bankruptcy Event, and Collections in respect of such Receivables, shall
continue to be property of Buyer.

                                   ARTICLE VI

                    REPRESENTATIONS, WARRANTIES AND COVENANTS

      Section 6.1 Representations and Warranties of Seller.

      (a)   To induce Buyer to accept the Transferred Assets, each Seller
severally makes the following representations and warranties to Buyer, as of the
Closing Date (in the case of the

                                       19             Receivables Sale Agreement
<PAGE>

initial Sellers) and, to the extent applicable, on each subsequent Transfer Date
following the date on which such Seller became a Seller.

            (i)   Valid Existence; Power and Authority. Such Seller (A) is duly
      organized, validly existing and in good standing under the laws of its
      jurisdiction of organization; (B) is duly qualified to conduct business
      and is in good standing in each other jurisdiction where its ownership or
      lease of property or the conduct of its business requires such
      qualification and where the failure to be so qualified or in good standing
      would have a Material Adverse Effect; and (C) has all requisite power and
      authority to execute, deliver and perform its obligations under this
      Agreement.

            (ii)  UCC Information. The true legal name of such Seller as
      registered in the jurisdiction of its organization and the current
      location of such Seller's jurisdiction of organization are set forth in
      Schedule 6.1(a)(ii) and such name and location have not changed within the
      past twelve (12) months. In addition, Schedule 6.1(a)(ii) lists such
      Seller's (A) federal employer identification number and (B) organizational
      identification number as designated by the jurisdiction of its
      organization.

            (iii) Authorization of Transaction; No Violation. The execution,
      delivery and performance by such Seller of this Agreement and the other
      Related Documents to which such Seller is a party and the creation and
      perfection of all Liens and ownership interests provided for herein: (A)
      have been duly authorized by all necessary action on the part of such
      Seller, and (B) do not violate any provision of any law or regulation of
      any Governmental Authority, or contractual or restrictions binding on such
      Seller, except where such violations, individually or in the aggregate,
      could not reasonably be expected to have a Material Adverse Effect.

            (iv)  Enforceability. On or prior to the Closing Date, each of the
      Related Documents to which a Seller is a party shall have been duly
      executed and delivered by such Seller and each such Related Document shall
      then constitute a legal, valid and binding obligation of such Seller
      enforceable against it in accordance with its terms, subject to
      bankruptcy, receivership, conservatorship, insolvency, reorganization,
      moratorium and other similar laws of general applicability relating to or
      affecting creditors' rights and to general principles of equity.

            (v)   Accuracy of Certain Information. All written factual
      information heretofore furnished by such Seller to Buyer with respect to
      the Transferred Receivables for the purposes of, or in connection with,
      this Agreement was true and correct in all material respects on the date
      as of which such information was stated or certified.

            (vi)  Use of Proceeds. No proceeds received by such Seller under
      this Agreement will be used by it for any purpose that violates Regulation
      U of the Federal Reserve Board.

            (vii) Transferred Receivables. With respect to each Transferred
      Receivable relating to such Seller, such Seller represents and warrants
      that as of the Transfer Date for such Transferred Receivable:

                                       20             Receivables Sale Agreement
<PAGE>

                  (A)   such Transferred Receivable satisfies the criteria for
            an Eligible Receivable;

                  (B)   all authorizations, consents, orders or approvals of or
            registrations or declarations with any Governmental Authority
            required to be obtained, effected or given by such Seller in
            connection with the conveyance by such Seller of such Transferred
            Receivable to Buyer have been duly obtained, effected or given and
            are in full force and effect; and

                  (C)   the additional representations and warranties set forth
            in Schedule 6.1(a)(vii) are true and correct.

      The representations and warranties described in this Section 6.1(a) shall
survive the sale of the Transferred Assets to Buyer, any subsequent assignment
or sale of the Transferred Assets by Buyer, and the termination of this
Agreement and the other Related Documents and shall continue until the payment
in full of all Transferred Assets.

      (b)   Upon discovery by a Seller or Buyer of a breach of any of the
representations and warranties by such Seller set forth in this Section 6.1, the
party discovering such breach shall give prompt written notice to the other.
Each Seller agrees to cooperate with Buyer in attempting to cure any such
breach.

      (c)   If any representation or warranty of a Seller contained in Section
6.1(a)(vii) is not true and correct in any material respect as of the date
specified therein with respect to any Transferred Receivable or any Account and
as a result of such breach Buyer's interest in such Transferred Receivable or
Account is materially and adversely affected, including if Buyer's rights in, to
or under such Transferred Receivables or the proceeds of such Transferred
Receivables are impaired or such proceeds are not available for any reason to
Buyer free and clear of any Lien other than Permitted Encumbrances, unless cured
within sixty (60) days (or such longer period, not in excess of one hundred
twenty (120) days, as may be agreed to by Buyer) after the earlier to occur of
the discovery thereof by such Seller or receipt by such Seller of notice thereof
given by Buyer, then such Transferred Receivable shall be designated an
"Ineligible Receivable;" provided, that such Transferred Receivables will not be
deemed to be Ineligible Receivables but will be deemed Eligible Receivables if,
on any day prior to the end of such sixty (60) day or longer period, (i) the
relevant representation and warranty shall be true and correct in all material
respects as if made on such day and (ii) such Seller shall have delivered an
Officer's Certificate describing the nature of such breach and the manner in
which the relevant representation and warranty became true and correct. A
Transferred Receivable shall be deemed to become an Ineligible Receivable if the
Dealer relating to such Receivable exercises a Dealer Repurchase Option with
respect thereto.

      (d)   On the first Purchase Date that coincides with or falls after the
date on which any Transferred Receivable is designated as an Ineligible
Receivable, the applicable Seller shall repurchase such Ineligible Receivable
from Buyer as provided below. The purchase price for the Ineligible Receivables
in any Account shall equal the Purchase Price paid for such Ineligible
Receivables, less any Principal Collections received on that Receivable from the
Closing Date or relevant Transfer Date, as applicable. On any Purchase Date the
aggregate amount of such

                                       21             Receivables Sale Agreement
<PAGE>

repurchase prices then payable may be netted against the Purchase Price then
payable, unless Buyer informs such Seller that Buyer requires funds to make
payments on account of the related Ineligible Receivables under any of the
Related Documents, in which case such amounts shall be paid gross.

      (e)   If any representation or warranty of a Seller contained in Section
6.1(a)(i), 6.1(a)(ii), 6.1(a)(iii) or 6.1(a)(iv) of this Agreement is not true
and correct in any material respect and such breach has a material adverse
effect on the Transferred Receivables transferred to Buyer by such Seller or the
availability of the proceeds thereof to Buyer, such Seller shall be obligated to
accept a reassignment of the Transferred Receivables if such breach and any
material adverse effect caused by such breach is not cured within sixty (60)
days (or within such longer period, not in excess of one hundred fifty (150)
days, as may be agreed to by Buyer), after the earlier to occur of the discovery
thereof by such Seller or receipt by such Seller of notice thereof given by
Buyer, on the terms set forth below; provided, that such Transferred Receivables
will not be reassigned to such Seller if, on any day prior to the end of such
sixty (60) day or longer period (i) the relevant representation and warranty
shall be true and correct in all material respects as if made on such day and
(ii) such Seller shall have delivered an Officer's Certificate describing the
nature of such breach and the manner in which the relevant representation and
warranty became true and correct. In connection with a reassignment pursuant to
the preceding sentence, such Seller shall pay to Buyer in immediately available
funds not later than 12:00 noon, New York City time, on the first Payment Date
following the Monthly Period in which such reassignment obligation arises, in
payment for such reassignment, an amount equal to the Aggregate Reassignment
Amount. The payment of such deposit amount in immediately available funds shall
otherwise be considered payment in full of all of the Transferred Receivables.

      (f)   Upon the payment, if any, required to be made to Buyer as provided
in Section 6.1(d) or 6.1(e), Buyer shall automatically and without further
action be deemed to transfer, assign, set over and otherwise convey to the
applicable Seller or its designee, without recourse, representation or warranty,
all the right, title and interest of Buyer in and to the applicable Transferred
Receivables, all moneys due or to become due and all amounts received with
respect thereto and all proceeds thereof. Buyer shall execute such documents and
instruments of transfer or assignment and take such other actions as shall
reasonably be requested by such Seller to effect the conveyance of such
Transferred Receivables pursuant to this Section.

      Section 6.2 Affirmative Covenants of Seller. Each Seller severally
covenants and agrees that, unless otherwise consented to by Buyer, from and
after the Closing Date (or the relevant Transfer Date, as applicable) and until
the date after the Agreement Termination Date or, if applicable, the Seller
Termination Date relating to such Seller, when the Outstanding Balance of all
Transferred Receivables relating to such Seller have been reduced to zero:

      (a)   Account Allocations. If such Seller is unable for any reason to
transfer Transferred Receivables to Buyer in accordance with the provisions of
this Agreement (including by reason of the application of the provisions of
Section 5.1 or an order by any Governmental Authority that such Seller not
transfer any additional Receivables to Buyer) then, in any such event, such
Seller agrees to allocate and pay to Buyer or Master Servicer on its behalf,
after the

                                       22             Receivables Sale Agreement
<PAGE>

date of such inability, all Collections with respect to Transferred Receivables
previously sold by such Seller to Buyer.

      (b)   Notice of Material Event. Each Seller shall promptly inform Buyer in
writing of the occurrence of any of the following with respect to such Seller,
in each case setting forth the details thereof and what action, if any, such
Seller proposes to take with respect thereto:

            (i)   any Litigation commenced or threatened against such Seller or
      with respect to or in connection with all or any substantial portion of
      the Transferred Assets or developments in such Litigation, in each case,
      that such Seller believes has a reasonable risk of being determined
      adversely and having a Material Adverse Effect;

            (ii)  the commencement of a proceeding against such Seller seeking a
      decree or order in respect of Seller (A) under any Debtor Relief Laws, (B)
      appointing a custodian, receiver, liquidator, assignee, trustee or
      sequestrator (or similar official) for such Seller or for any substantial
      part of such Seller's assets, or (C) ordering the winding-up or
      liquidation of the affairs of such Seller; or

            (iii) such Seller's failure to comply with any of its obligations
      under this Agreement.

      (c)   Notice of Liens. Each Seller shall notify Buyer promptly after
becoming aware of any Lien on any Transferred Asset other than Permitted
Encumbrances.

      (d)   Information for Reports. Each Seller shall promptly deliver any
material written information, documents, records or reports with respect to the
Transferred Receivables that Buyer shall reasonably request.

      (e)   Deposit of Collections. Each Seller shall transfer to Buyer or
Master Servicer on its behalf, promptly, and in any event no later than the
Business Day after receipt thereof, all Collections it may receive in respect of
Transferred Assets.

      (f)   Financing Agreements and Policies. Each Seller shall comply with and
perform its obligations under the Financing Agreements relating to the Accounts
and the Credit and Collection Policies except insofar as any failure to comply
or perform would not materially and adversely affect the rights of Buyer.

      Section 6.3 Negative Covenants of Seller. Each Seller severally covenants
and agrees that, without the prior written consent of Buyer, from and after the
Closing Date (or the relevant Transfer Date, as applicable) and until the date
after the Agreement Termination Date (or, if applicable, the Seller Termination
Date relating to such Seller) when the Outstanding Balances of all Transferred
Receivables transferred hereunder by such Seller prior to such Agreement
Termination Date (or, if applicable, the Seller Termination Date relating to
such Seller) have been reduced to zero:

      (a)   Liens. Each Seller shall not create, incur, assume or permit to
exist any Lien, other than Permitted Encumbrances, on or with respect to the
Transferred Assets.

                                       23             Receivables Sale Agreement
<PAGE>

      (b)   Amendments to Financing Agreements and Credit and Collection
Policies. [Such Seller shall not amend the Financing Agreements; provided, that
this sentence shall not prevent a Seller from assigning its rights in a
Financing Agreement to another Seller. Such Seller shall not amend its Credit
and Collection Policies if such amendment would be adverse in any material
respect to Buyer].

      (c)   UCC Matters. Such Seller shall not change its state of organization
or formation or its name such that any financing statement filed to perfect
Buyer's interests under this Agreement would become seriously misleading, unless
such Seller shall have given Buyer not less than thirty (30) days' prior written
notice of such change.

      (d)   No Proceedings. From and after the Closing Date and until the date
one year plus one day following the date on which all amounts due with respect
to securities rated by a rating agency that were issued by any entity holding
Transferred Assets or an interest therein have been paid in full in cash, such
Seller shall not, directly or indirectly, institute or cause to be instituted
against Buyer any bankruptcy, reorganization, arrangement, insolvency or
liquidation proceeding or other proceeding under any Debtor Relief Laws;
provided, that the foregoing shall not in any way limit such Seller's right to
pursue any other creditor rights or remedies that such Seller may have under any
applicable law.

      (e)   Sale Characterization. For accounting purposes, such Seller shall
not account for the transactions contemplated by this Agreement in any manner
other than, with respect to the sale of each Transferred Receivable, as a true
sale and absolute assignment of its full right, title and ownership interest in
the related Transferred Assets to Buyer. Such Seller shall also maintain its
records and books of account in a manner which clearly reflects each such sale
of the Transferred Receivables to Buyer.

                                  ARTICLE VII

                                  MISCELLANEOUS

      Section 7.1 Notices. Except as otherwise provided herein, whenever it is
provided herein that any notice, demand, request, consent, approval, declaration
or other communication shall or may be given to or served upon any party hereto
by any other party hereto, or whenever any party hereto desires to give or serve
upon any other party hereto any communication with respect to this Agreement,
each such notice, demand, request, consent, approval, declaration or other
communication shall be in writing and shall be deemed to have been validly
served, given or delivered (a) upon the earlier of actual receipt and three (3)
Business Days after deposit in the United States mail, registered or certified
mail, return receipt requested, with proper postage prepaid, (b) upon
transmission, when sent by telecopy or other similar facsimile transmission
(with such telecopy or facsimile promptly confirmed by delivery of a copy by
personal delivery or United States mail as otherwise provided in this Section
7.1), (c) one (1) Business Day after deposit with a reputable overnight courier
with all charges prepaid or (d) when delivered, if hand-delivered by messenger,
all of which shall be addressed to the party to be notified and sent to the
address or facsimile number set forth below or to such other address (or
facsimile number) as may be substituted by notice given as herein provided. The
giving of any notice required hereunder may be waived in writing by the party
entitled to receive such notice. Failure or delay

                                       24             Receivables Sale Agreement
<PAGE>

in delivering copies of any notice, demand, request, consent, approval,
declaration or other communication to any Person (other than Buyer) designated
in any written communication provided hereunder to receive copies shall in no
way adversely affect the effectiveness of such notice, demand, request, consent,
approval, declaration or other communication. Notwithstanding the foregoing,
whenever it is provided herein that a notice is to be given to any other party
hereto by a specific time, such notice shall be effective only if actually
received by such party prior to such time, and if such notice is received after
such time or on a day other than a Business Day, such notice shall be effective
only on the immediately succeeding Business Day.

         If to a Seller:

                  GE Commercial Distribution Finance Corporation
                  5595 Trillium Boulevard
                  Hoffman Estates, Illinois 60192
                  Attention:    General Counsel
                  Telephone:    [          ]
                  Facsimile:    [          ]

         or

                  Transamerica Commercial Finance Corporation
                  5595 Trillium Boulevard
                  Hoffman Estates, Illinois 60192
                  Attention:    General Counsel
                  Telephone:    [          ]
                  Facsimile:    [          ]

         If to Buyer:

                  CDF Funding, Inc.
                  1600 Summer Street, 4th Floor
                  Stamford, CT 06927
                  Attention:    Manager - Securitization
                  Telephone:    (203) 357-4756
                  Facsimile:    (203) 357-6796

         With a copy to:

                  General Electric Capital Corporation
                  1600 Summer Street, 4th Floor
                  Stamford, CT  06927
                  Attention:    Portfolio Manager
                  Telephone:    (203) 357-4328
                  Facsimile:    (203) 961-2953

                                       25             Receivables Sale Agreement
<PAGE>

      Section 7.2 No Waiver; Remedies.

      (a)   The failure of any party hereto, at any time or times, to require
strict performance by any other party hereto of any provision of this Agreement
shall not waive, affect or diminish any right of such party thereafter to demand
strict compliance and performance with this Agreement. Any suspension or waiver
of any breach or default hereunder shall not suspend, waive or affect any other
breach or default whether the same is prior or subsequent thereto and whether of
the same or a different type. None of the undertakings, agreements, warranties,
covenants and representations of any party contained in this Agreement, and no
breach or default by any party under this Agreement, shall be deemed to have
been suspended or waived or amended by any other party hereto unless such waiver
or suspension or amendment is by an instrument in writing signed by an officer
of or other duly authorized signatory of such party and, in the case of a
suspension or waiver, directed to the defaulting party specifying such
suspension or waiver.

      (b)   Each party's rights and remedies under this Agreement shall be
cumulative and nonexclusive of any other rights and remedies that such party may
have under any other agreement, including the other Related Documents, by
operation of law or otherwise.

      Section 7.3 Successors and Assigns. This Agreement shall be binding upon
and shall inure to the benefit of each Seller and Buyer and their respective
successors and permitted assigns, except as otherwise provided herein. Except as
provided below and in Sections 2.8 or 4.1 of this Agreement, a Seller may not
assign, transfer, hypothecate or otherwise convey its rights, benefits,
obligations or duties hereunder without having obtained the prior express
written consent of Buyer. Any such purported assignment, transfer, hypothecation
or other conveyance by such Seller without the prior express written consent of
Buyer shall be void. Each Seller acknowledges that under the Second Tier
Agreement, Buyer will assign its rights granted hereunder to the Issuer, and
upon such assignment the Issuer shall have, to the extent of such assignment,
all rights of Buyer hereunder and such transferee may in turn transfer such
rights. The terms and provisions of this Agreement are for the purpose of
defining the relative rights and obligations of each Seller and Buyer with
respect to the transactions contemplated hereby and no Person shall be a
third-party beneficiary of any of the terms and provisions of this Agreement.

      Section 7.4 Termination. This Agreement shall create and constitute the
continuing obligations of the parties hereto in accordance with its terms, and
shall remain in full force and effect until the termination of the Issuer (such
date, the "Agreement Termination Date"). A Seller may cease to be a party to
this Agreement on a date selected by such Seller upon prior notice thereof to
Buyer (such date, with respect to such Seller, being the "Seller Termination
Date").

      Section 7.5 Survival. Except as otherwise expressly provided herein or in
any other Related Document, no termination or cancellation (regardless of cause
or procedure) of any agreement made by a Seller under this Agreement shall in
any way affect or impair the obligations, duties and liabilities of such Seller
or the rights of such Seller relating to any unpaid portion of any and all
obligations of such Seller to Buyer, due or not due, liquidated, contingent or
unliquidated or any transaction or event occurring prior to such termination, or
any transaction or event, the performance of which is required after the
Agreement Termination Date (or, if

                                       27             Receivables Sale Agreement
<PAGE>

applicable, the Seller Termination Date relating to such Seller). Except as
otherwise expressly provided herein or in any other Related Document, all
undertakings, agreements, covenants, warranties and representations of or
binding upon a Seller, and all rights of such Seller hereunder shall not
terminate or expire, but rather shall survive any such termination or
cancellation and shall continue in full force and effect until the date after
the Agreement Termination Date (or, if applicable, the Seller Termination Date
relating to such Seller) when the Outstanding Balances of all Transferred
Receivables transferred hereunder by such Seller prior to such Agreement
Termination Date (or, if applicable, the Seller Termination Date relating to
such Seller) have been reduced to zero; provided, that the rights and remedies
pursuant to the provisions of Sections 2.5, 6.3(d), 7.3, 7.11 and 7.12 shall be
continuing and shall survive any termination of this Agreement.

      Section 7.6 Complete Agreement; Modification of Agreement. This Agreement
constitutes the complete agreement between the parties with respect to the
subject matter hereof, supersedes all prior agreements and understandings
relating to the subject matter hereof and thereof, and may not be modified,
altered or amended except by written agreement of the parties hereto.

      Section 7.7 GOVERNING LAW; CONSENT TO JURISDICTION; WAIVER OF JURY TRIAL.

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

      (b)   EACH PARTY HERETO HEREBY CONSENTS AND AGREES THAT THE STATE OR
FEDERAL COURTS LOCATED IN THE BOROUGH OF MANHATTAN IN NEW YORK CITY SHALL HAVE
EXCLUSIVE JURISDICTION TO HEAR AND DETERMINE ANY CLAIMS OR DISPUTES BETWEEN THEM
PERTAINING TO THIS AGREEMENT OR TO ANY MATTER ARISING OUT OF OR RELATING TO THIS
AGREEMENT; PROVIDED, THAT EACH PARTY HERETO ACKNOWLEDGES THAT ANY APPEALS FROM
THOSE COURTS MAY HAVE TO BE HEARD BY A COURT LOCATED OUTSIDE OF THE BOROUGH OF
MANHATTAN IN NEW YORK CITY; PROVIDED FURTHER, THAT NOTHING IN THIS AGREEMENT
SHALL BE DEEMED OR OPERATE TO PRECLUDE BUYER FROM BRINGING SUIT OR TAKING OTHER
LEGAL ACTION IN ANY OTHER JURISDICTION TO REALIZE ON THE RECEIVABLES OR ANY
SECURITY FOR THE OBLIGATIONS OF A SELLER ARISING HEREUNDER OR TO ENFORCE A
JUDGMENT OR OTHER COURT ORDER IN FAVOR OF BUYER. EACH PARTY HERETO SUBMITS AND
CONSENTS IN ADVANCE TO SUCH JURISDICTION IN ANY ACTION OR SUIT COMMENCED IN ANY
SUCH COURT, AND EACH PARTY HERETO HEREBY WAIVES ANY OBJECTION THAT SUCH PARTY
MAY HAVE

                                       27             Receivables Sale Agreement
<PAGE>

BASED UPON LACK OF PERSONAL JURISDICTION, IMPROPER VENUE OR FORUM NON CONVENIENS
AND HEREBY CONSENTS TO THE GRANTING OF SUCH LEGAL OR EQUITABLE RELIEF AS IS
DEEMED APPROPRIATE BY SUCH COURT. EACH PARTY HERETO HEREBY WAIVES PERSONAL
SERVICE OF THE SUMMONS, COMPLAINT AND OTHER PROCESS ISSUED IN ANY SUCH ACTION OR
SUIT AND AGREES THAT SERVICE OF SUCH SUMMONS, COMPLAINT AND OTHER PROCESS MAY BE
MADE BY REGISTERED OR CERTIFIED MAIL ADDRESSED TO SUCH PARTY AT ITS ADDRESS
DETERMINED IN ACCORDANCE WITH SECTION 7.1 AND THAT SERVICE SO MADE SHALL BE
DEEMED COMPLETED UPON THE EARLIER OF SUCH PARTY'S ACTUAL RECEIPT THEREOF OR
THREE DAYS AFTER DEPOSIT IN THE UNITED STATES MAIL, PROPER POSTAGE PREPAID.
NOTHING IN THIS SECTION SHALL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE
LEGAL PROCESS IN ANY OTHER MANNER PERMITTED BY LAW.

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

      Section 7.8 Counterparts. This Agreement may be executed in any number of
separate counterparts, each of which shall collectively and separately
constitute one agreement.

      Section 7.9 Severability. Wherever possible, each provision of this
Agreement shall be interpreted in such a manner as to be effective and valid
under applicable law, but if any provision of this Agreement shall be prohibited
by or invalid under applicable law, such provision shall be ineffective only to
the extent of such prohibition or invalidity without invalidating the remainder
of such provision or the remaining provisions of this Agreement.

      Section 7.10 Section Titles. The section titles and table of contents
contained in this Agreement are provided for ease of reference only and shall be
without substantive meaning or content of any kind whatsoever and are not a part
of the agreement between the parties hereto.

      Section 7.11 No Setoff. A Seller's obligations under this Agreement shall
not be affected by any right of setoff, counterclaim, recoupment, defense or
other right such Seller might have against Buyer, all of which rights are hereby
expressly waived by such Seller.

      Section 7.12 Further Assurances.

                                       28             Receivables Sale Agreement
<PAGE>

      (a)   Each Seller shall, at its sole cost and expense, upon request of
Buyer, promptly and duly authorize, execute and/or deliver, as applicable, any
and all further instruments and documents and take such further actions that
Buyer may reasonably request to carry out more effectively the provisions and
purposes of this Agreement or to obtain the full benefits of this Agreement and
of the rights and powers herein granted, including authorizing and filing any
financing or continuation statements under the UCC with respect to the ownership
interest of Buyer created by this Agreement. Each Seller hereby authorizes Buyer
to file any such financing or continuation statements without the signature of
such Seller to the extent permitted by applicable law. A carbon, photographic or
other reproduction of this Agreement or of any notice or financing statement
covering the Transferred Assets or any part thereof shall be sufficient as a
notice or financing statement where permitted by law. If any amount payable
under or in connection with any of the Transferred Assets is or shall become
evidenced by any instrument, such instrument, other than checks and notes
received in the ordinary course of business, shall be duly endorsed in a manner
satisfactory to Buyer immediately upon such Seller's receipt thereof and
promptly delivered to or at the direction of Buyer.

      (b)   If a Seller fails to perform any agreement or obligation under this
Section 7.12, Buyer may (but shall not be required to) itself perform, or cause
performance of, such agreement or obligation, and the reasonable expenses of
Buyer incurred in connection therewith shall be payable by such Seller upon
demand of Buyer.

      Section 7.13 Accounting Changes. If any Accounting Changes occur and such
changes result in a change in the standards or terms used herein, then the
parties hereto agree to enter into negotiations in order to amend such
provisions so as to equitably reflect such Accounting Changes with the desired
result that the criteria for evaluating the financial condition of such Persons
and their Subsidiaries shall be the same after such Accounting Changes as if
such Accounting Changes had not been made. If the parties hereto agree upon the
required amendments to this Agreement, then after appropriate amendments have
been executed and the underlying Accounting Change with respect thereto has been
implemented, any reference to GAAP contained herein shall, only to the extent of
such Accounting Change, refer to GAAP consistently applied after giving effect
to the implementation of such Accounting Change. If such parties cannot agree
upon the required amendments within thirty (30) days following the date of
implementation of any Accounting Change, then all financial statements delivered
and all standards and terms used herein shall be prepared, delivered and used
without regard to the underlying Accounting Change.

      Section 7.14 No Indirect or Consequential Damages. NO PARTY TO THIS
AGREEMENT SHALL BE RESPONSIBLE OR LIABLE TO ANY OTHER PARTY TO THIS AGREEMENT,
ANY SUCCESSOR, ASSIGNEE OR THIRD PARTY BENEFICIARY OF SUCH PERSON OR ANY OTHER
PERSON ASSERTING CLAIMS DERIVATIVELY THROUGH SUCH PARTY, FOR INDIRECT, PUNITIVE,
EXEMPLARY OR CONSEQUENTIAL DAMAGES THAT MAY BE ALLEGED AS A RESULT OF ANY
TRANSACTION CONTEMPLATED HEREUNDER.

                               [SIGNATURES FOLLOW]

                                       29             Receivables Sale Agreement
<PAGE>

      IN WITNESS WHEREOF, each Seller and Buyer have caused this Receivables
Sale Agreement to be duly executed as of the day and year first above written.

                                          GE COMMERCIAL DISTRIBUTION
                                          FINANCE CORPORATION, as a Seller

                                          By: __________________________________

                                          Name:_________________________________

                                          Title:________________________________

                                       S-1            Receivables Sale Agreement

<PAGE>

                                          TRANSAMERICA COMMERCIAL
                                          FINANCE CORPORATION, as a Seller

                                          By: __________________________________

                                          Name:_________________________________

                                          Title:________________________________

                                       S-2            Receivables Sale Agreement

<PAGE>

                                          CDF FUNDING, INC., as Buyer

                                          By: __________________________________

                                          Name:_________________________________

                                          Title:________________________________

                                       S-3            Receivables Sale Agreement

<PAGE>

                                   SCHEDULE 1

                                LIST OF ACCOUNTS

      The initial Account Schedule consists of [a compact disk] delivered to
Buyer and Indenture Trustee listing Accounts and related information as of [ ],
2004.

                                    Sch. 1-1          Receivables Sale Agreement

<PAGE>

                               SCHEDULE 6.1(a)(ii)

                                 UCC INFORMATION

                A.   Transamerica Commercial Finance Corporation

1.       Legal Name

         Transamerica Commercial Finance Corporation

2.       Jurisdiction of Organization

         Delaware

3.       Federal Employer Identification Number

         94-3054016

4.       Organizational Identification Number

         2141782

                B.   GE Commercial Distribution Finance Corporation

1.       Legal Name

         GE Commercial Distribution Finance Corporation

2.       Jurisdiction of Organization

         Nevada

3.       Federal Employer Identification Number

         41-0954316

4.       Organizational Identification Number

         C1718-1969

                                Sch. 6.1(a)(ii)-1     Receivables Sale Agreement

<PAGE>

                              SCHEDULE 6.1(a)(vii)

                    PERFECTION REPRESENTATIONS AND WARRANTIES

      1.    General. This Agreement creates a valid and continuing ownership
interest in Buyer with respect to all of such Seller's right, title and interest
in, to and under the Transferred Assets which (a) is enforceable against
creditors of and purchasers from such Seller, as such enforceability may be
limited by applicable law, now or hereafter in effect, and by general principles
of equity (whether considered in a suit at law or in equity), and (b) will be
prior to all other Liens (other than Permitted Encumbrances) in such property.

      2.    Characterization. The Receivables constitute "accounts", "general
intangibles" or "chattel paper" within the meaning of UCC Section 9-102.

      3.    Creation. Immediately prior to its conveyance of the Transferred
Assets pursuant to this Agreement, such Seller owns and has good and marketable
title to such Transferred Assets free and clear of any Lien, claim or
encumbrance of any Person (other than Permitted Encumbrances).

      4.    Perfection. Such Seller has caused, or will have caused within ten
(10) days after the Closing Date, the filing of all appropriate financing
statements in the proper filing office in the appropriate jurisdictions under
applicable law in order to perfect Buyer's ownership of such Transferred Assets.

      5.    Priority. Other than the ownership interests transferred to Buyer
pursuant to this Agreement, such Seller has not pledged, assigned, sold, granted
a security interest in, or otherwise conveyed any of the Transferred Assets
except as permitted by this Agreement. Such Seller has not authorized the filing
of and is not aware of any financing statements against such Seller that include
a description of collateral covering the Transferred Assets other than any
financing statement (i) in favor of Buyer and its assignees, (ii) that has been
terminated, or (iii) that has been granted pursuant to the terms of the Related
Documents. None of the tangible chattel paper that constitutes or evidences the
Receivables has any marks or notations indicating that they have been pledged,
assigned or otherwise conveyed to any Person other than Buyer. Such Seller is
not aware of any judgment lien, ERISA lien or tax lien filings against it.

      6.    Survival of Perfection Representations. Notwithstanding any other
provision of this Agreement or any other Related Document, the representations
contained in this Schedule 6.1(a)(vii) shall be continuing and remain in full
force and effect.

      7.    No Waiver. The parties to this Agreement: (i) shall not, without the
consent of the other parties, waive any of the representations and warranties in
this Schedule 6.1(a)(vii) (the "Perfection Representations"); (ii) shall provide
the other parties with prompt written notice of any breach of the Perfection
Representations, and shall not, without the consent of S&P (if S&P is then
rating any outstanding Series) waive a breach of any of the Perfection
Representations.

      8.    Seller to Maintain Perfection and Priority. Each Seller covenants
that, in order to evidence the interests of such Seller and Buyer under this
Agreement, such Seller shall take such action, or execute and deliver such
instruments (other than effecting a Filing (as defined below),

                               Sch. 6.1(a)(vii)-1     Receivables Sale Agreement
<PAGE>

unless such Filing is effected in accordance with this paragraph) as may be
necessary or advisable (including such actions as are requested by Buyer) to
maintain and perfect, as a first priority interest, Buyer's ownership of the
Transferred Assets. Such Seller shall, from time to time and within the time
limits established by law, prepare and present to Buyer for Buyer to authorize
(based in reliance on the Opinion of Counsel hereinafter provided for in this
paragraph) such Seller to file, all financing statements, amendments,
continuations, financing statements in lieu of a continuation statement,
terminations, partial terminations, releases or partial releases, or any other
filings necessary or advisable to continue, maintain and perfect Buyer's
ownership of the Transferred Assets as a first-priority interest (each a
"Filing"). Such Seller shall present each such Filing to Buyer together with (x)
an Opinion of Counsel to the effect that such Filing (i) satisfies all
requirements and conditions to such Filing in this Agreement and (ii) satisfies
the requirements for a Filing of such type under the UCC in the applicable
jurisdiction, and (y) a form of authorization for Buyer's signature. Upon
receipt of such Opinion of Counsel and form of authorization, Buyer shall
promptly authorize in writing such Seller to, and such Seller shall, effect such
Filing under the UCC. Notwithstanding anything else in this Agreement to the
contrary, such Seller shall not have any authority to effect a Filing without
obtaining written authorization from Buyer in accordance with this paragraph.

                               Sch. 6.1(a)(vii)-2     Receivables Sale Agreement
<PAGE>

                                    EXHIBIT A

                               FORM OF ASSIGNMENT

                (As required by Section 2.6(c) of the Agreement)

ASSIGNMENT No. _______ OF RECEIVABLES IN ADDITIONAL ACCOUNTS (this "Assignment")
dated as of ________, by and between [GE COMMERCIAL DISTRIBUTION FINANCE
CORPORATION] [TRANSAMERICA COMMERCIAL FINANCE CORPORATION], as seller ("Seller")
and CDF FUNDING, INC., as buyer ("Buyer"), pursuant to the Agreement referred to
below.

                              W I T N E S S E T H :

      WHEREAS, Seller and Buyer are parties to the Receivables Sale Agreement,
dated as of [ ], 2004 (as it may be amended, restated, supplemented or otherwise
modified from time to time, the "Agreement"); and

      WHEREAS, pursuant to the Agreement, Seller wishes to designate Additional
Accounts to be included as Accounts and to convey the Transferred Receivables in
such Additional Accounts that have been designated "Additional Accounts"
pursuant to the Agreement, whether now existing or hereafter created, to Buyer
(as each such term is defined in the Agreement); and

      WHEREAS, Buyer is willing to accept such designation and conveyance
subject to the terms and conditions hereof;

      NOW, THEREFORE, Seller and Buyer hereby agree as follows:

      1.    Defined Terms. All terms defined in the Agreement and used herein
shall have such defined meanings when used herein, unless otherwise defined
herein.

            "Addition Date" means, with respect to the Additional Accounts
      designated hereby, [_______________________], 20[_________].

            "Addition Cut-Off Date" means, with respect to Additional Accounts
      designated hereby, [______], 20[_____].

            "Transferred Property" is defined in Section 3(a).

      2.    Designation of Additional Accounts. The Accounts listed on Schedule
1 to this Assignment have been designated "Additional Accounts" pursuant to the
Agreement. Schedule 1 to this Assignment, as of the Addition Date, shall
supplement Schedule 1 to the Agreement as required by Section 2.1(b) of the
Agreement.

      3.    Conveyance of Receivables.

            (a)   Seller does hereby transfer, assign, set over and otherwise
convey, without recourse except as set forth in this Assignment and the
Agreement, to Buyer, all its right, title

                                    Exh. A-1          Receivables Sale Agreement
<PAGE>

and interest in, to and under the following (the "Transferred Property"): the
Receivables in such Additional Accounts existing at the close of business on the
Addition Date and thereafter created from time to time until the Agreement
Termination Date (or, if applicable, the Seller Termination Date with respect to
such Seller), the Collateral Security and Collections with respect thereto and
related Recoveries, together with all monies due or to become due and all
amounts received or receivable with respect thereto and Insurance Proceeds
relating thereto and all proceeds of the foregoing. The foregoing does not
constitute and is not intended to result in the creation or assumption by Buyer
of any obligation of any Seller or any other Person in connection with the
Accounts or the Transferred Receivables or under any agreement or instrument
relating thereto, including any obligation under any Financing Agreement, any
Floorplan Agreement, or any Participation Agreement, or any obligation to any
Dealer or any Manufacturer.

            (b)   Seller agrees to record and file, at its own expense,
financing statements (and continuation statements when applicable) with respect
to the Receivables in Additional Accounts existing on the Addition Date and
thereafter created meeting the requirements of applicable state law in such
manner and in such jurisdictions as are necessary to perfect, and maintain
perfection of, Buyer's ownership of such Receivables, and to deliver a
file-stamped copy of each such financing statement or other evidence of such
filing to Buyer within ten (10) days of the Addition Date. Buyer shall be under
no obligation whatsoever to file such financing or continuation statements or to
make any other filing under the UCC in connection with such sale and assignment.

            (c)   In connection with such assignment, Seller further agrees, at
its own expense, on or prior to the date of this Assignment, to indicate and
cause Master Servicer to indicate in the appropriate computer files that
Receivables created in connection with the Additional Accounts and designated
hereby have been conveyed to Buyer pursuant to the Agreement and this
Assignment.

            (d)   The parties hereto intend that the transfer of the Transferred
Property by Seller to Buyer shall constitute a sale by Seller to Buyer and not a
loan by Buyer to Seller secured by the Transferred Property. If, contrary to the
intent of the parties hereto, a court of competent jurisdiction determines that
any transaction provided for herein constitutes a loan and not a sale of the
Transferred Property, then this Assignment shall constitute a security agreement
under applicable law and Seller shall be deemed to have granted, and Seller
hereby grants, to Buyer a security interest in and to all of Seller's right,
title and interest in, to and under the Transferred Property.

      4.    Acceptance by Buyer. Buyer hereby acknowledges its acceptance of all
right, title and interest to the property, existing on the Addition Date and
thereafter created, conveyed to Buyer pursuant to Section 3(a) of this
Assignment. Buyer further acknowledges that, prior to or simultaneously with the
execution and delivery of this Assignment, Seller delivered to it the Account
Schedule described in Section 2 of this Assignment.

      5.    Representations and Warranties of Seller. Seller hereby represents
and warrants to Buyer as of the Addition Date:

                                    Exh. A-2          Receivables Sale Agreement
<PAGE>

            (a)   This Assignment constitutes a legal, valid and binding
obligation of Seller enforceable against Seller in accordance with its terms,
except as such enforceability may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium or other similar laws now or hereafter in
effect affecting the enforcement of creditors' rights in general and except as
such enforceability may be limited by general principles of equity (whether
considered in a suit at law or in equity);

            (b)   each of the Transferred Receivables satisfies the criteria for
an Eligible Receivable as of the Addition Cut-Off Date;

            (c)   each Additional Account is, as of the Addition Cut-Off Date,
an Eligible Account;

            (d)   no selection procedures believed by Seller to be materially
adverse to the interests of Buyer or any of its creditors were utilized in
selecting the Additional Accounts from the available Eligible Accounts;

            (e)   as of the Addition Date, Seller is solvent;

            (f)   the Account Schedule delivered pursuant to this Assignment is
an accurate and complete listing in all material respects of all the Accounts as
of the related Addition Cut-Off Date, and the information contained therein with
respect to the identity of such Accounts and the Transferred Receivables
existing in such Accounts, is true and correct in all material respects as of
the Addition Cut-Off Date;

            (g)   the Agreement and this Assignment transfer ownership to Buyer
of the Transferred Property, and upon filing of the financing statements
described herein and, in the case of Transferred Receivables thereafter created,
upon the creation thereof, such ownership will be perfected and prior to all
Liens (other than Permitted Encumbrances) in the Transferred Property;

            (h)   the Transferred Receivables constitute "accounts", "chattel
paper" or "general intangibles" within the meaning of UCC Section 9-102;

            (i)   immediately prior to the conveyance of the Receivables
pursuant to this Agreement, Seller owns and has good and marketable title to the
Receivables free and clear of any Lien, claim or encumbrance of any Person
(other than Permitted Encumbrances); and

            (j)   subject to Permitted Encumbrances, other than the transfer and
assignment to Buyer pursuant to this Assignment, Seller had not pledged,
assigned, sold, granted a security interest in, or otherwise conveyed any of the
Transferred Receivables. Seller has not authorized the filing of and is not
aware of any UCC financing statements against Seller that included a description
of collateral covering the Transferred Receivables.

      6.    Amendment of the Agreement. The Agreement is hereby amended to
provide that all references therein to "this Agreement" and "herein" shall be
deemed from and after the Addition Date to be a dual reference to the Agreement
as supplemented by this Assignment. Except as expressly amended hereby, all of
the representations, warranties, terms, covenants and

                                    Exh. A-3          Receivables Sale Agreement
<PAGE>

conditions of the Agreement shall remain unamended and shall continue to be, and
shall remain, in full force and effect in accordance with its terms.

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

      8.    GOVERNING LAW; CONSENT TO JURISDICTION; WAIVER OF JURY TRIAL.

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

            (b)   EACH PARTY HERETO HEREBY CONSENTS AND AGREES THAT THE STATE OR
FEDERAL COURTS LOCATED IN THE BOROUGH OF MANHATTAN IN NEW YORK CITY SHALL HAVE
EXCLUSIVE JURISDICTION TO HEAR AND DETERMINE ANY CLAIMS OR DISPUTES BETWEEN THEM
PERTAINING TO THIS ASSIGNMENT OR TO ANY MATTER ARISING OUT OF OR RELATING TO
THIS ASSIGNMENT; PROVIDED, THAT EACH PARTY HERETO ACKNOWLEDGES THAT ANY APPEALS
FROM THOSE COURTS MAY HAVE TO BE HEARD BY A COURT LOCATED OUTSIDE OF THE BOROUGH
OF MANHATTAN IN NEW YORK CITY. EACH PARTY HERETO SUBMITS AND CONSENTS IN ADVANCE
TO SUCH JURISDICTION IN ANY ACTION OR SUIT COMMENCED IN ANY SUCH COURT, AND EACH
PARTY HERETO HEREBY WAIVES ANY OBJECTION THAT SUCH PARTY MAY HAVE BASED UPON
LACK OF PERSONAL JURISDICTION, IMPROPER VENUE OR FORUM NON CONVENIENS AND HEREBY
CONSENTS TO THE GRANTING OF SUCH LEGAL OR EQUITABLE RELIEF AS IS DEEMED
APPROPRIATE BY SUCH COURT. EACH PARTY HERETO HEREBY WAIVES PERSONAL SERVICE OF
THE SUMMONS, COMPLAINT AND OTHER PROCESS ISSUED IN ANY SUCH ACTION OR SUIT AND
AGREES THAT SERVICE OF SUCH SUMMONS, COMPLAINT AND OTHER PROCESS MAY BE MADE BY
REGISTERED OR CERTIFIED MAIL ADDRESSED TO SUCH PARTY AT ITS ADDRESS DETERMINED
IN ACCORDANCE WITH SECTION 7.1 OF THE AGREEMENT AND THAT SERVICE SO MADE SHALL
BE DEEMED COMPLETED UPON THE EARLIER OF SUCH PARTY'S ACTUAL RECEIPT THEREOF OR
THREE DAYS AFTER DEPOSIT IN THE UNITED STATES MAIL, PROPER POSTAGE PREPAID.
NOTHING IN THIS SECTION SHALL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE
LEGAL PROCESS IN ANY OTHER MANNER PERMITTED BY LAW.

                                    Exh. A-4          Receivables Sale Agreement
<PAGE>

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

                                    Exh. A-5          Receivables Sale Agreement
<PAGE>

      IN WITNESS WHEREOF, the undersigned have caused this Assignment to be duly
executed and delivered on the day and year first above written.

                                         [GE COMMERCIAL DISTRIBUTION
                                         FINANCE CORPORATION]
                                         [TRANSAMERICA COMMERCIAL FINANCE
                                         CORPORATION], as Seller

                                         By:____________________________________
                                         Name:__________________________________
                                         Title:_________________________________

                                    Exh. A-6          Receivables Sale Agreement
<PAGE>

                                         CDF FUNDING, INC., as Buyer

                                         By:____________________________________
                                         Name:__________________________________
                                         Title:_________________________________

                                    Exh. A-7          Receivables Sale Agreement
<PAGE>

                                   Schedule 1
                                  to Assignment

                               ADDITIONAL ACCOUNTS

                                    Exh. A-8          Receivables Sale Agreement
<PAGE>

                                   EXHIBIT B

                              FORM OF REASSIGNMENT

                  (As required by Section 2.7 of the Agreement)

      REASSIGNMENT No. _______ ("Reassignment") dated as of _________, by and
between [GE COMMERCIAL DISTRIBUTION FINANCE CORPORATION] [TRANSAMERICA
COMMERCIAL FINANCE CORPORATION], as seller (the "Seller"), and CDF FUNDING,
INC., as buyer (the "Buyer"), pursuant to the Agreement referred to below.

                                   WITNESSETH:

      WHEREAS Seller and Buyer are parties to the Receivables Sale Agreement,
dated as of [ ], 2004 (as it may be amended, restated, supplemented or otherwise
modified from time to time, the "Agreement");

      WHEREAS pursuant to the Agreement, the parties hereto desire to remove
certain Accounts from the Account Schedule [insert if such Accounts were not
Eligible Accounts at the time such Accounts were originally designated as
Accounts; and the parties hereto desire that Buyer reconvey to Seller the
Transferred Receivables of such Removed Accounts, whether now existing or
hereafter created];

      NOW, THEREFORE, Seller and Buyer hereby agree as follows:

      1.    Defined Terms. All terms defined in the Agreement and used herein
shall have such defined meanings when used herein, unless otherwise defined
herein.

      "Removal Date" means, with respect to the Removed Accounts designated
hereby, ___________, ____.

      "Removed Accounts" means the Accounts listed on Schedule 2 to this
Reassignment.

      2.    Designation of Removed Accounts. Schedule 1 to this Reassignment, as
of the Removal Date, shall not include the Removed Accounts and shall supplement
Schedule 1 to the Agreement as required by Section 2.1(b) of the Agreement.
Schedule 2 to this Reassignment lists the Removed Accounts covered by this
Reassignment.

      3.    [This Section should be used with respect to Accounts that were not
Eligible Accounts at the time such Accounts were originally designated as
Accounts: Conveyance of Transferred Receivables. (a) Buyer does hereby transfer,
assign, set over and otherwise convey to Seller, without representation,
warranty or recourse, on and after the Removal Date, all right, title and
interest of Buyer in, to and under the Transferred Receivables existing at the
close of business on the Removal Date, and thereafter created from time to time,
in the Removed Accounts designated hereby, the Collateral Security and
Collections and Recoveries with respect thereto, together with all monies due or
to become due and all amounts received or receivable with respect thereto and
all Insurance Proceeds related thereto and all proceeds of the foregoing.

                                   Exhibit B-1        Receivables Sale Agreement
<PAGE>

      (b)   In connection with such transfer, Buyer agrees to execute and
deliver to Seller on or prior to the date this Reassignment is delivered,
applicable termination statements prepared by Seller with respect to the
Transferred Receivables existing at the close of business on the Removal Date,
and thereafter created from time to time, in the Removed Accounts reassigned
hereby and the proceeds thereof evidencing the release by Buyer of its interest
in such Transferred Receivables, and meeting the requirements of applicable
state law, in such manner and such jurisdictions as are necessary to terminate
such interest.]

      4.    Representations and Warranties of Seller. Seller hereby represents
and warrants to Buyer as of the Removal Date:

      (a)   Legal Valid and Binding Obligation. This Reassignment constitutes a
legal, valid and binding obligation of Seller enforceable against Seller in
accordance with its terms, except as such enforceability may be limited by
applicable bankruptcy, insolvency, reorganization, moratorium or other similar
laws now or hereafter in effect affecting the enforcement of creditors' rights
in general and except as such enforceability may be limited by general
principles of equity (whether considered in a suit at law or in equity); and

      (b)   List of Accounts and Removed Accounts. Schedule 1 attached hereto is
an accurate and complete listing in all material respects of all the Accounts
(other than the Removed Accounts covered by this Reassignment) as of the Removal
Date. Schedule 2 attached hereto is an accurate and complete listing in all
material respects as of the Removal Date of the Removed Accounts being removed
pursuant to this Reassignment.

      5.    Amendment of the Agreement. The Agreement is hereby amended to
provide that all references therein to "this Agreement" and "herein" shall be
deemed from and after the Removal Date to be a dual reference to the Agreement
as supplemented by this Reassignment. Except as expressly amended hereby, all of
the representations, warranties, terms and covenants and conditions of the
Agreement shall remain unamended and shall continue to be and shall remain in
full force and effect in accordance with its terms.

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

      7.    GOVERNING LAW; CONSENT TO JURISDICTION; WAIVER OF JURY TRIAL.

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

                                   Exhibit B-2        Receivables Sale Agreement
<PAGE>

      (b)   EACH PARTY HERETO HEREBY CONSENTS AND AGREES THAT THE STATE OR
FEDERAL COURTS LOCATED IN THE BOROUGH OF MANHATTAN IN NEW YORK CITY SHALL HAVE
EXCLUSIVE JURISDICTION TO HEAR AND DETERMINE ANY CLAIMS OR DISPUTES BETWEEN THEM
PERTAINING TO THIS REASSIGNMENT OR TO ANY MATTER ARISING OUT OF OR RELATING TO
THIS REASSIGNMENT; PROVIDED, THAT EACH PARTY HERETO ACKNOWLEDGES THAT ANY
APPEALS FROM THOSE COURTS MAY HAVE TO BE HEARD BY A COURT LOCATED OUTSIDE OF THE
BOROUGH OF MANHATTAN IN NEW YORK CITY. EACH PARTY HERETO SUBMITS AND CONSENTS IN
ADVANCE TO SUCH JURISDICTION IN ANY ACTION OR SUIT COMMENCED IN ANY SUCH COURT,
AND EACH PARTY HERETO HEREBY WAIVES ANY OBJECTION THAT SUCH PARTY MAY HAVE BASED
UPON LACK OF PERSONAL JURISDICTION, IMPROPER VENUE OR FORUM NON CONVENIENS AND
HEREBY CONSENTS TO THE GRANTING OF SUCH LEGAL OR EQUITABLE RELIEF AS IS DEEMED
APPROPRIATE BY SUCH COURT. EACH PARTY HERETO HEREBY WAIVES PERSONAL SERVICE OF
THE SUMMONS, COMPLAINT AND OTHER PROCESS ISSUED IN ANY SUCH ACTION OR SUIT AND
AGREES THAT SERVICE OF SUCH SUMMONS, COMPLAINT AND OTHER PROCESS MAY BE MADE BY
REGISTERED OR CERTIFIED MAIL ADDRESSED TO SUCH PARTY AT ITS ADDRESS DETERMINED
IN ACCORDANCE WITH SECTION 7.1 OF THE AGREEMENT AND THAT SERVICE SO MADE SHALL
BE DEEMED COMPLETED UPON THE EARLIER OF SUCH PARTY'S ACTUAL RECEIPT THEREOF OR
THREE DAYS AFTER DEPOSIT IN THE UNITED STATES MAIL, PROPER POSTAGE PREPAID.
NOTHING IN THIS SECTION SHALL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE
LEGAL PROCESS IN ANY OTHER MANNER PERMITTED BY LAW.

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

                                   Exhibit B-3        Receivables Sale Agreement
<PAGE>

      IN WITNESS WHEREOF, the undersigned have caused this Reassignment to be
duly executed and delivered on the day and year first above written.

                                         [GE COMMERCIAL DISTRIBUTION
                                         FINANCE CORPORATION]
                                         [TRANSAMERICA COMMERCIAL FINANCE
                                         CORPORATION], as Seller

                                         By:____________________________________
                                         Name:__________________________________
                                         Title:_________________________________

                                   Exhibit B-4        Receivables Sale Agreement
<PAGE>

                                         CDF FUNDING, INC., as Buyer

                                         By:____________________________________
                                         Name:__________________________________
                                         Title:_________________________________

                                   Exhibit B-5        Receivables Sale Agreement
<PAGE>

                                   Schedule 1
                                 to Reassignment

                            UPDATED ACCOUNT SCHEDULE

                                   Exhibit B-6        Receivables Sale Agreement
<PAGE>

                                   Schedule 2
                                 to Reassignment

                                REMOVED ACCOUNTS

                                   Exhibit B-7        Receivables Sale Agreement
<PAGE>

                                    EXHIBIT C

                     FORM OF OPINION OF COUNSEL WITH RESPECT
                       TO ADDITION OF ADDITIONAL ACCOUNTS

                          (Provisions to be included in
                            Opinion of Counsel to be
                              delivered pursuant to
                               Section 2.6(c)(ii))

      The opinions set forth below may be subject to appropriate qualifications,
assumptions, limitations and exceptions.

      1.    The provisions of the Receivables Sale Agreement are effective under
the UCC to create in favor of Buyer a security interest in Seller's rights in
the Transferred Receivables in such Additional Accounts and the identifiable
proceeds thereof (the "Specified Assets").

      2.    The security interest in the Specified Assets created by the
Receivables Sale Agreement will be perfected by the filing of the Financing
Statement as described and defined in such opinion.

                                   Exhibit C-1        Receivables Sale Agreement

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