Document:

EXHIBIT 10.38

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                               TAL ADVANTAGE I LLC
                                     Issuer
                                       and
                         U.S. BANK NATIONAL ASSOCIATION
                                Indenture Trustee

                                   ----------

                            SERIES 2006-1 SUPPLEMENT
                           Dated as of April 12, 2006

                                       to

                         AMENDED AND RESTATED INDENTURE
                           Dated as of April 12, 2006

                                   ----------

                    SERIES 2006-1 FLOATING RATE SECURED NOTES

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                                TABLE OF CONTENTS

                                                                            Page
                                                                            ----
ARTICLE I Definitions; Calculation Guidelines............................     1
   Section 101.   Definitions............................................     1
ARTICLE II Creation of the Series 2006-1 Notes...........................     8
   Section 201.   Designation............................................     8
   Section 202.   Authentication and Delivery............................     8
   Section 203.   Interest Payments on the Series 2006-1 Notes...........     9
   Section 204.   Principal Payments on the Series 2006-1 Notes..........     9
   Section 205.   Prepayment of Principal on the Series 2006-1 Notes.....    10
   Section 206.   Restrictions on Transfer...............................    10
ARTICLE III Series 2006-1 Series Account and  Allocation and Application
            of Amounts Therein; Policy...................................    16
   Section 301.   Series 2006-1 Series Account...........................    16
   Section 302.   Investment of Funds....................................    16
   Section 303.   Distributions from Series 2006-1 Series Account........    16
   Section 304.   The Policy.............................................    18
ARTICLE IV [Reserved]....................................................    21
ARTICLE V Conditions to Issuance.........................................    22
   Section 501.   Conditions to Issuance.................................    22
ARTICLE VI Representations and Warranties................................    23
   Section 601.   Existence..............................................    23
   Section 602.   Authorization..........................................    23
   Section 603.   No Conflict; Legal Compliance..........................    23
   Section 604.   Validity and Binding Effect............................    23
   Section 605.   Financial Conditions...................................    24
   Section 606.   Place of Business......................................    24
   Section 607.   No Agreements or Contracts.............................    24
   Section 608.   Consents and Approvals.................................    24
   Section 609.   Margin Regulations.....................................    24
   Section 610.   Taxes..................................................    24
   Section 611.   Other Regulations......................................    25
   Section 612.   Solvency and Separateness..............................    25
   Section 613.   Survival of Representations and Warranties.............    26

                           TABLE OF CONTENTS (cont'd)

                                                                            Page
                                                                            ----
   Section 614.   No Default.............................................    26
   Section 615.   Litigation and Contingent Liabilities..................    26
   Section 616.   Title; Liens...........................................    26
   Section 617.   Subsidiaries...........................................    26
   Section 618.   No Partnership.........................................    26
   Section 619.   Pension and Welfare Plans..............................    26
   Section 620.   Ownership of the Issuer................................    26
   Section 621.   Security Interest Representations......................    26
ARTICLE VII Miscellaneous Provisions.....................................    29
   Section 701.   Ratification of Indenture..............................    29
   Section 702.   Counterparts...........................................    29
   Section 703.   Governing Law..........................................    29
   Section 704.   Notices to Rating Agencies.............................    29
   Section 705.   Amendments and Modifications...........................    29
   Section 706.   Consent to Jurisdiction................................    30
   Section 707.   Waiver of Jury Trial...................................    30
   Section 708.   No Petition............................................    30
   Section 709.   Third Party Beneficiary................................    30

                           TABLE OF CONTENTS (cont'd)

                                    EXHIBITS

EXHIBIT A-1   Form of 144A Global Note
EXHIBIT A-2   Form of Temporary Regulation S Global Note
EXHIBIT A-3   Form of Permanent Regulation S Global Note
EXHIBIT A-4   Form of Note Issued to Institutional Accredited Investors
EXHIBIT B     Form of Certificate to be Given by Noteholders
EXHIBIT C     Form of Certificate to be Given by Euroclear or Clearstream
EXHIBIT D     Form of Certificate to be Given by Transferee of Beneficial
              Interest In a Temporary Regulation S Global Note
EXHIBIT E     Form of Transfer Certificate for Exchange or Transfer From 144A
              Note to Regulations S Note
EXHIBIT F     Form of Initial Purchaser Exchange Instructions

                                    SCHEDULES

SCHEDULE 1    Series 2006-1 Minimum Targeted Principal Balances by Payment Date
              Series 2006-1 Scheduled Targeted Principal Balances by Payment
              Date

          THIS SERIES 2006-1 SUPPLEMENT, dated as of April 12, 2006 (as amended,
          modified and supplemented from time to time in accordance with the
          terms hereof, this "Supplement"), is between TAL ADVANTAGE I LLC, a
          limited liability company organized under the laws of Delaware (the
          "Issuer"), and U.S. Bank National Association, a national banking
          association, as Indenture Trustee (the "Indenture Trustee").

          WHEREAS, pursuant to the Amended and Restated Indenture, dated as of
April 12, 2006 (as amended, modified or supplemented from time to time in
accordance with its terms, the "Indenture"), between the Issuer and the
Indenture Trustee, the Issuer may from time to time direct the Indenture Trustee
to authenticate one or more new Series of Notes. The Principal Terms of any new
Series are to be set forth in a Supplement to the Indenture.

          WHEREAS, pursuant to this Supplement, the Issuer and the Indenture
Trustee shall create a new Series of Notes ("Series 2006-1") and specify the
Principal Terms thereof.

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

                                   ARTICLE I

                       Definitions; Calculation Guidelines

          Section 101. Definitions. (a) Whenever used in this Supplement, the
following words and phrases shall have the following meanings, and the
definitions of such terms are applicable to the singular as well as the plural
forms of such terms and to the masculine as well as to the feminine and neuter
genders of such terms.

          "144A GLOBAL NOTES" means the 144A Global Notes substantially in the
form of Exhibit A-1 hereto.

          "2006-1 CLOSING DATE" means April 12, 2006.

          "AGGREGATE SERIES 2006-1 NOTE PRINCIPAL BALANCE" means, as of any date
of determination, an amount equal to the sum of the Series 2006-1 Note Principal
Balances of all Series 2006-1 Notes then Outstanding, which as of the 2006-1
Closing Date shall be Six Hundred Eighty Million Dollars ($680,000,000).

          "BENEFIT PLAN" means an "employee benefit plan" as defined in Section
3(3) of ERISA that is subject to Title I of ERISA, a "plan" within the meaning
of Section 4975(e)(1) of the Code or an entity whose underlying assets include
"plan assets" of any of the foregoing by reason of an employee benefit plan's or
plan's investment in such entity.

          "CLEARING AGENCY" means, with respect to any Global Note, any Person
designated as such by the Issuer, which Person must be registered as a "clearing
agency" pursuant to Section 17A of the Securities Exchange Act of 1934.

          "CONTROL PARTY" means with respect to Series 2006-1: (i) so long as no
Series Enhancer Default has occurred and is continuing, the Series Enhancer; or
(ii) if a Series Enhancer Default has occurred and is continuing, the Majority
of Holders of the Series 2006-1 Notes.

          "DEFAULT FEE" means, for any Payment Date on which interest on overdue
amounts is payable in accordance with the provisions of Section 203(b) hereof,
an amount equal to the excess of (x) the total amount of interest payable on
such Payment Date, including the amount of interest otherwise payable on such
Payment Date pursuant to the provisions of Section 203(b), over (y) the amount
of interest that would have been payable on such Payment Date if no payment
default had occurred.

          "DEFAULT RATE" means, for any date of determination, an interest rate
per annum equal to the sum of (i) One-Month LIBOR plus (ii) two percent (2.0%).

          "DEFICIENCY AMOUNT" means (a) for any Payment Date other than the
Series 2006-1 Legal Final Maturity Date, any shortfall in the aggregate amount
available in the Series 2006-1 Series Account for the Series 2006-1 Notes or any
other amounts available under the Indenture or this Supplement to pay the Series
2006-1 Note Interest Payment due and payable on all Series 2006-1 Notes on such
Payment Date, and (b) on the Series 2006-1 Legal Final Maturity Date, any
shortfall in the aggregate amount available in the Series 2006-1 Series Account
or any other amounts available under the Indenture or this Supplement to pay the
then Aggregate Series 2006-1 Note Principal Balance and accrued but unpaid
Series 2006-1 Note Interest Payments.

          "DEFINITIVE NOTE" shall have the meaning set forth in Appendix A to
the Indenture.

          "DOLLARS" and the sign "$" mean lawful money of the United States of
America.

          "DTC" shall have the meaning set forth in Section 206.

          "FGIC" means Financial Guaranty Insurance Company, a New York stock
insurance corporation.

          "INDEMNIFIED LIABILITIES" shall have the meaning set forth in the
Insurance Agreement to the extent relating to the Series 2006-1 Notes.

          "INITIAL PURCHASERS" means both of Fortis Securities LLC and Credit
Suisse Securities (USA) LLC.

          "INSTITUTIONAL ACCREDITED INVESTORS" shall have the meaning set forth
in Section 206.

          "INSURANCE AGREEMENT" means the Insurance and Indemnity Agreement,
dated as of April 12, 2006, among the Series Enhancer, the Seller, the Manager,
the Issuer and the Indenture Trustee, as such agreement may be amended, modified
and supplemented from time to time in accordance with its terms.

                                       2

          "INSURED AMOUNTS" shall have the meaning set forth in the Policy.

          "LIBOR DETERMINATION DATE" shall mean the date that is two Business
Days prior to the first day of any Interest Accrual Period.

          "MAJORITY OF HOLDERS" means, with respect to the Series 2006-1 Notes
as of any date of determination, the Series 2006-1 Noteholders holding Series
2006-1 Notes constituting more than fifty percent (50%) of the then Aggregate
Series 2006-1 Note Principal Balance.

          "MINIMUM PRINCIPAL PAYMENT AMOUNT" means, for the Series 2006-1 Notes
on any Payment Date, the excess, if any, of (x) the then Aggregate Series 2006-1
Note Principal Balance over (y) the Minimum Targeted Principal Balance for the
Series 2006-1 Notes for such Payment Date.

          "MINIMUM TARGETED PRINCIPAL BALANCE" means for the Series 2006-1 Notes
for each Payment Date, the amount set forth opposite such Payment Date on
Schedule 1 hereto under the column titled "Minimum Targeted Principal Balance",
as the amounts on Schedule 1 hereto may be amended from time to time in
accordance with the provisions of the Indenture.

          "MOODY'S" shall mean Moody's Investors Service, Inc. and any successor
thereto.

          "NOTICE" means the telephonic or telegraphic notice, promptly
confirmed in writing by telecopy in the form required by the Policy, the
original of which is subsequently delivered by registered or certified mail, for
the Indenture Trustee specifying the Insured Amount which shall be due and owing
on the applicable Payment Date.

          "ONE-MONTH LIBOR" means, for any Interest Accrual Period, the rate per
annum, determined by the Indenture Trustee and notified in writing by the
Indenture Trustee to each of the Issuer and the Manager, which is the arithmetic
mean (rounded to the nearest 1/100 of 1%) of the offered rates for dollar
deposits having a maturity of one month commencing on the first day of such
Interest Accrual Period that appears on the Telerate British Bankers Assoc.
Interest Settlement Rates Page (defined below) at approximately 11:00 a.m.,
London time on the LIBOR Determination Date; provided, however, that if there
shall at any time no longer exist a Telerate British Bankers Assoc. Interest
Settlement Rates Page, "One-Month LIBOR" shall mean (i) the rate per annum equal
to the average rate offered by four major banks in the London eurodollar
interbank market for dollar deposits at or about 10:00 a.m. New York City time,
on the LIBOR Determination Date for such Interest Accrual Period in the London
eurodollar interbank market for delivery on the first day of such Interest
Accrual Period for one month and in a principal amount equal to an amount of not
less than $1,000,000, or (ii) if the Indenture Trustee can not determine the
rate per annum pursuant to the provisions of clause (i), the London Interbank
Offered Rate for a one month period on the LIBOR Determination Date for such
Interest Accrual Period as set forth in The Wall Street Journal (or, if The Wall
Street Journal is not then available, the most recently available edition of The
Wall Street Journal containing such information). As used herein, "Telerate
British Bankers Assoc. Interest Settlement Rates Page" means the display
designated as Page 3750 on the Telerate System Incorporated Service (or such
other page as may replace such page on such service for the purpose of
displaying the rates at

                                       3

which dollar deposits are offered by leading banks in the London interbank
deposit market), as reported by Bloomberg Financial Markets Commodities News (or
by another source selected by the Indenture Trustee and notified by the
Indenture Trustee to each of the Issuer and the Manager).

          "POLICY" means, with respect to the Series 2006-1 Notes, the financial
guaranty insurance policy number 06030045 issued by the Series Enhancer.

          "PERMANENT REGULATION S GLOBAL NOTES" means the Permanent Regulation S
Global Notes substantially in the form of Exhibit A-3.

          "PREFERENCE AMOUNT" shall have the meaning set forth in the Policy.

          "PREMIUM" means the amount payable to the Series Enhancer for the
Series 2006-1 Notes, as set forth in the Premium Letter, in consideration for
its issuance of the Policy.

          "PREMIUM LETTER" means that certain letter agreement, dated as of
April 12, 2006 between the Issuer and the Series Enhancer setting forth certain
fees and other matters, as the same may be further amended, modified or
supplemented from time to time in accordance therewith and with the Insurance
Agreement.

          "QUALIFIED INSTITUTIONAL BUYERS" shall have the meaning set forth in
Section 206.

          "RATING AGENCIES" means, for Series 2006-1, each of S&P and Moody's.

          "REGULATION S" shall have the meaning set forth in Section 206 hereof.

          "REGULATION S GLOBAL NOTES" means, collectively, the Temporary
Regulation S Global Notes and the Permanent Regulation S Global Notes

          "REIMBURSEMENT AMOUNT" means, collectively, the Repayment Amounts and
Indemnified Liabilities.

          "REPAYMENT AMOUNTS" shall have the meaning set forth in the Insurance
Agreement to the extent relating to the Series 2006-1 Notes.

          "RULE 144A" shall have the meaning set forth in Section 206 hereof.

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

          "SCHEDULED PRINCIPAL PAYMENT AMOUNT" means, for the Series 2006-1
Notes for any Payment Date, the excess, if any, of (x) the then Aggregate Series
2006-1 Note Principal Balance (after giving effect to any payment of the Minimum
Principal Payment Amount for the Series 2006-1 Notes actually paid on such
Payment Date), over (y) the Scheduled Targeted Principal Balance for the Series
2006-1 Notes for such Payment Date.

                                       4

          "SCHEDULED TARGETED PRINCIPAL BALANCE" means, for the Series 2006-1
Notes for any Payment Date, the amount set forth opposite such Payment Date on
Schedule 1 hereto under the column titled "Scheduled Targeted Principal
Balance", as the amounts on Schedule 1 hereto may be amended from time to time
in accordance with the provisions of the Indenture.

          "SECURITIES ACT" means the Securities Act of 1933, as amended.

          "SERIES ENHANCER" means FGIC.

          "SERIES ENHANCER DEFAULT" means the occurrence and continuance of any
of the following events:

          (a) the Series Enhancer shall have failed to pay an Insured Amount
          required under the Policy in accordance with its terms and such
          failure continues unremedied for two (2) Business Days;

          (b) the Series Enhancer shall have (i) filed a petition or commenced
          any case or Proceeding under any provision or chapter of the United
          States Bankruptcy Code or any other similar federal or state law
          relating to insolvency, bankruptcy, rehabilitation, liquidation or
          reorganization, (ii) made a general assignment for the benefit of its
          creditors, or (iii) had an order for relief entered against it under
          the United States Bankruptcy Code or any other similar federal or
          state law relating to insolvency, bankruptcy, rehabilitation,
          liquidation or reorganization which is final and nonappealable; or

          (c) a court of competent jurisdiction, the New York Department of
          Insurance or other competent regulatory authority shall have entered a
          final and nonappealable order, judgment or decree (i) appointing a
          custodian, trustee, agent or receiver for the Series Enhancer or for
          all or any material portion of its property or (ii) authorizing the
          taking of possession by a custodian, trustee, agent or receiver of the
          Series Enhancer (or the taking of possession of all or any material
          portion of the property of the Series Enhancer).

          "SERIES 2005-1 SUPPLEMENT" means the Amended and Restated Series
2005-1 Supplement, dated as of April 12, 2006, as amended, between the Issuer
and the Indenture Trustee, whereby the "Series 2005-1 Floating Rate Secured
Notes" were issued.

          "SERIES 2006-1" means the Series of Notes the terms of which are
specified in this Supplement.

          "SERIES 2006-1 EXPECTED FINAL MATURITY DATE" means the Payment Date in
April, 2016.

          "SERIES 2006-1 LEGAL FINAL MATURITY DATE" means the Payment Date in
April, 2021.

                                       5

          "SERIES 2006-1 NOTE" means any one of the notes issued pursuant to the
terms of Section 201(a) of this Supplement, substantially in the form of any of
Exhibit A-1, A-2, A-3 or A-4 to this Supplement.

          "SERIES 2006-1 NOTE INTEREST PAYMENT" means, for each Series 2006-1
Note on each Payment Date, an amount equal to the product of (i) the sum of (x)
One-Month LIBOR for the Interest Accrual Period ending on the day preceding such
Payment Date, and (y) nineteen one-hundredths of one percent (0.19%), (ii) the
Series 2006-1 Note Principal Balance on the immediately preceding Payment Date
and (iii) a fraction, the numerator of which is the actual number of days
elapsed in such Interest Accrual Period and the denominator of which is 360.

          "SERIES 2006-1 NOTE PRINCIPAL BALANCE" means, with respect to any
Series 2006-1 Note as of any date of determination, an amount equal to the
excess, if any, of (x) the Series 2006-1 Note Principal Balance of such Series
2006-1 Note as of the 2006-1 Closing Date, over (y) the cumulative amount of all
Minimum Principal Payment Amounts, Scheduled Principal Payment Amounts and any
other principal payments (including Prepayments) actually paid to the Series
2006-1 Noteholders subsequent to the 2006-1 Closing Date.

          "SERIES 2006-1 NOTE PURCHASE AGREEMENT" means the Series 2006-1 Note
Purchase Agreement, dated as of April 7, 2006, among the Issuer, the Manager and
the Initial Purchasers.

          "SERIES 2006-1 NOTEHOLDER" means, at any time of determination for the
Series 2006-1 Notes, any Person in whose name a Series 2006-1 Note is registered
in the Note Register.

          "SERIES 2006-1 SERIES ACCOUNT" means the account of that name
established in accordance with Section 301 hereof.

          "SERIES 2006-1 TRANSACTION DOCUMENTS" means any and all of the
Indenture, this Supplement, the Policy, the Premium Letter and any other
Enhancement Agreement, the Insurance Agreement, the Series 2006-1 Notes, the
Series 2006-1 Note Purchase Agreement, the Management Agreement, the
Contribution and Sale Agreement, the Series 2006-1 Note Purchase Agreement, the
Administration Agreement, the Independent Management Agreement, any Hedge
Agreement and all other Transaction Documents and any and all other agreements,
documents and instruments executed and delivered by or on behalf or in support
of the Issuer with respect to the issuance and sale of the Series 2006-1 Notes,
as any of the foregoing may from time to time be amended, modified, supplemented
or renewed.

          "TEMPORARY REGULATION S GLOBAL NOTES" means the Temporary Regulation S
Global Notes substantially in the form of Exhibit A-2.

          "TRANSFEROR" shall have the meaning set forth in Section 206 hereof.

          "U.S. PERSON" shall have the meaning set forth in Section 206 hereof.

          (b) Capitalized terms used herein and not otherwise defined shall have
the meaning set forth in Appendix A to the Indenture or, if not defined therein,
as defined in the

                                       6

Series 2006-1 Note Purchase Agreement. The rules of usage set forth in such
Appendix A shall apply to this Supplement.

                                       7

                                   ARTICLE II

                       Creation of the Series 2006-1 Notes

          Section 201. Designation. (a) There is hereby created a Series of
Notes to be issued in one Class pursuant to the Indenture and this Supplement to
be known respectively as "TAL ADVANTAGE I LLC Series 2006-1 Floating Rate
Secured Notes". The Series 2006-1 Notes will be issued in the initial aggregate
principal balance of $680,000,000 and will not have priority over any other
Series, except to the extent set forth in the Supplement for such other Series.
The issuance date of the Series 2006-1 Notes is April 12, 2006.

          (b) The Payment Date with respect to the Series 2006-1 Notes shall be
the twentieth (20th) calendar day of each month, commencing May 20, 2006 or, if
such day is not a Business Day, the immediately following Business Day.

          (c) Payments of principal and interest on the Series 2006-1 Notes
shall be payable from funds on deposit in the Series 2006-1 Series Account or
otherwise at the times and in the amounts set forth in Article III of the
Indenture and Article III of this Supplement.

          (d) The Series 2006-1 Notes are not classified as "Warehouse Notes",
as such term is used in the Indenture.

          (e) The Policy, the Premium Letter and the Insurance Agreement shall
constitute Enhancement Agreements with respect to Series 2006-1, and FGIC shall
constitute a Series Enhancer with respect to Series 2006-1.

          (f) In the event that the Series 2006-1 Note Interest Payment is paid
by the Series Enhancer, then the Series Enhancer's rights to be reimbursed
therefor under the Insurance Agreement, together with interest thereon at the
interest rate described in Section 203(b), shall also be considered an "Interest
Payment" with respect to Series 2006-1.

          (g) In the event that any term or provision contained herein shall
conflict with or be inconsistent with any term or provision contained in the
Indenture, the terms and provisions of this Supplement shall govern.

          Section 202. Authentication and Delivery.

          (a) On the 2006-1 Closing Date, the Issuer shall sign, and shall
direct the Indenture Trustee in writing pursuant to Section 201 of the Indenture
to duly authenticate, and the Indenture Trustee, upon receiving such direction,
(i) shall authenticate (by manual or facsimile signature), subject to compliance
with the conditions precedent set forth in Section 501 hereof, the Series 2006-1
Notes in accordance with such written directions, and (ii) subject to compliance
with the conditions precedent set forth in Section 501 hereof, shall deliver
such Series 2006-1 Notes to the Initial Purchasers in accordance with such
written directions.

          (b) In accordance with Section 202 of the Indenture, the Series 2006-1
Notes sold in reliance on Rule 144A shall be represented by one or more Rule
144A Global Notes. Any Series 2006-1 Notes sold in reliance on Regulation S
shall be represented by one or more

                                       8

Regulation S Global Notes. Any Series 2006-1 Notes sold to Institutional
Accredited Investors shall be represented by one or more Definitive Notes.

          (c) The Series 2006-1 Notes shall be executed by manual or facsimile
signature on behalf of the Issuer by any authorized officer or manager of the
Issuer and shall be substantially in the forms of Exhibit A-1, A-2, A-3 and A-4
hereto, as applicable.

          (d) The Series 2006-1 Notes shall be issued in minimum denominations
of $100,000 (or, if greater, the U.S. dollar equivalent of 50,000 Euros) and in
integral multiples in excess thereof.

          Section 203. Interest Payments on the Series 2006-1 Notes.

          (a) Interest on Series 2006-1 Notes. Interest will be due and payable
on each Series 2006-1 Note in an amount equal to the Series 2006-1 Note Interest
Payment. Such Series 2006-1 Note Interest Payment shall be payable on each
Payment Date from amounts on deposit in the Series 2006-1 Series Account in
accordance with Section 303 hereof. On the second (2nd) Business Day prior to
the end of each Interest Accrual Period, the Indenture Trustee shall determine
One-Month LIBOR for the immediately following Interest Accrual Period and shall
promptly notify each of the Issuer and the Manager in writing of the
determination of the One-Month LIBOR for such Interest Accrual Period. To the
extent that the amount of interest which is due and payable on any Payment Date
is not paid in full on such date, such shortfall, together with interest thereon
at the Default Rate, shall be due and payable on the immediately succeeding
Payment Date.

          (b) Interest on Overdue Amounts. If the Issuer shall default in the
payment of (i) the unpaid principal balance of any Series 2006-1 Notes on the
Series 2006-1 Legal Final Maturity Date, (ii) the Series 2006-1 Note Interest
Payment on any Series 2006-1 Note when due, or (iii) following the acceleration
of the Series 2006-1 Notes in accordance with the terms of the Indenture, any
other amount owing under the Indenture not covered in clauses (i) and (ii) which
is not paid when due, the Issuer shall from time to time, pay interest on such
unpaid amounts, to the extent permitted by Applicable Law, to, but not
including, the date of actual payment (after as well as before judgment), at a
rate per annum equal to the Default Rate, for the period during which such
principal, interest or other amount shall be unpaid from the due date of such
payment to, but not including, the date of actual payment thereof. Any such
Default Fees shall be payable at the times and subject to the priorities set
forth in Section 303 hereof.

          (c) Maximum Interest Rate. In no event shall the interest charged with
respect to a Series 2006-1 Note exceed the maximum amount permitted by
Applicable Law. If at any time the interest rate charged with respect to the
Series 2006-1 Notes exceeds the maximum rate permitted by Applicable Law, the
rate of interest to accrue pursuant to this Supplement and such Series 2006-1
Note shall be limited to the maximum rate permitted by Applicable Law.

          Section 204. Principal Payments on the Series 2006-1 Notes. The
principal balance of the Series 2006-1 Notes shall be payable on each Payment
Date from amounts on deposit in the Series 2006-1 Series Account in an amount
equal to (i) so long as no Early Amortization Event is continuing, the Minimum
Principal Payment Amount and the Scheduled

                                       9

Principal Payment Amount for such Payment Date, to the extent that funds are
available for such purpose in accordance with the provisions of part I of
Section 302 hereof, or (ii) if an Early Amortization Event is then continuing
(or an Event of Default has occurred, but the Series 2006-1 Notes have not been
accelerated in accordance with the provisions of Section 802 of the Indenture),
the Minimum Principal Payment Amount, the Scheduled Principal Payment Amount and
then unpaid Aggregate Series 2006-1 Note Principal Balance shall be payable in
full to the extent that funds are available for such purposes in accordance with
the provisions of Part (II) of Section 303 hereof. The unpaid principal amount
of each Series 2006-1 Note together with all unpaid interest (including all
Default Fees), fees, expenses, costs and other amounts payable by the Issuer to
the Series 2006-1 Noteholders, the Indenture Trustee and the Series Enhancer
pursuant to the terms of the Indenture and this Supplement, shall be due and
payable in full on the earlier to occur of (x) the date on which an Event of
Default shall occur and the Series 2006-1 Notes have been accelerated in
accordance with the provisions of Section 802 of the Indenture and (y) the
Series 2006-1 Legal Final Maturity Date.

          Section 205. Prepayment of Principal on the Series 2006-1 Notes.

          (a) The Aggregate Series 2006-1 Note Principal Balance of the Series
2006-1 Notes shall be required to be prepaid at the time and in the amounts set
forth in Section 702(a) of the Indenture.

          (b) On the Payment Date occurring in April 2008 and on each Payment
Date thereafter, the Issuer will have the option to prepay, all, or a portion
of, the Aggregate Series 2006-1 Note Principal Balance of the Series 2006-1
Notes in a minimum amount of One Hundred Thousand Dollars ($100,000). The Issuer
shall not prepay the Aggregate Series 2006-1 Note Principal Balance of the
Series 2006-1 Notes prior to the Payment Date occurring in April 2008; provided,
however, that nothing contained herein shall prohibit any allocation to the
Series 2006-1 Noteholders of Supplemental Principal Payment Amounts in
accordance with the terms of the Indenture on any Payment Date or any prepayment
pursuant to Section 311 of the Indenture prior to the Payment Date occurring in
April 2008. Any such Prepayment of all, or a portion of, the Aggregate Series
2006-1 Note Principal Balance shall also include accrued interest to the date of
Prepayment on the principal balance being prepaid. The Issuer may not make such
Prepayment from funds in the Trust Account, the Series 2006-1 Series Account,
the Restricted Cash Account or the Temporary Loss Account, except to the extent
that funds in any such account would otherwise be payable to the Issuer or
available to prepay the Aggregate Series 2006-1 Note Principal Balance in
accordance with the terms of the Indenture and this Supplement.

          (c) In the event of any prepayment of the Series 2006-1 Notes in
accordance with this Section 205 or any other provision of the Indenture, the
Issuer shall pay (i) any prepayment fees payable in accordance with the terms of
the Premium Letter and (ii) any termination, notional reduction, breakage or
other fees or costs assessed by any Hedge Counterparty.

          (d) The Issuer shall provide not less than five (5) Business Days
prior written notice of any Prepayment to the Indenture Trustee and the Series
Enhancer, and the Indenture Trustee shall promptly forward a copy of such notice
to the Series 2006-1 Noteholders.

                                       10

          Section 206. Restrictions on Transfer. (a) On the 2006-1 Closing Date,
the Issuer shall sell the Series 2006-1 Notes to the Initial Purchasers pursuant
to the Series 2006-1 Note Purchase Agreement and deliver such Series 2006-1
Notes in accordance herewith and therewith. Thereafter, no Series 2006-1 Note
may be sold, transferred or otherwise disposed of except in compliance with the
provisions of the Indenture and except as follows:

          (A) to Persons that the transferring Person reasonably believes are
     Qualified Institutional Buyers in reliance on the exemption from the
     registration requirements of the Securities Act provided by Rule 144A
     promulgated thereunder ("Rule 144A");

          (B) in offshore transactions in reliance on Regulation S under the
     Securities Act ("Regulation S");

          (C) to institutional "accredited investors" within the meaning of Rule
     501(a)(1), (2), (3) or (7) of Regulation D under the Securities Act
     ("Institutional Accredited Investors") that take delivery of such Series
     2006-1 Note in an amount of at least $100,000 (or, if greater, the U.S.
     dollar equivalent of 50,000 Euros) and that deliver an Investment Letter
     substantially in the form of Exhibit C to the Indenture to the Indenture
     Trustee; or

          (D) to a Person who is taking delivery of such Series 2006-1 Notes
     pursuant to a transaction that is otherwise exempt from the registration
     requirements of the Securities Act, as confirmed in an Opinion of Counsel
     by such Person or its transferor addressed to the Indenture Trustee and the
     Issuer, which counsel and opinion are satisfactory to the Indenture Trustee
     and the Issuer.

The Indenture Trustee shall have no obligations or duties with respect to
determining whether any transfers of the Series 2006-1 Notes are made in
accordance with the Securities Act or any other law; provided that with respect
to Definitive Notes, the Indenture Trustee shall enforce such transfer
restrictions in accordance with the terms set forth in this Supplement.

          (b) Each purchaser (other than the Initial Purchasers) of the Series
2006-1 Notes (including any purchaser, other than the Initial Purchasers, of an
interest in the Series 2006-1 Notes which are Global Notes) shall be deemed to
have acknowledged and agreed as follows:

               (i) It is (A) a qualified institutional buyer as defined in Rule
          144A ("Qualified Institutional Buyer") and is acquiring such Series
          2006-1 Notes for its own institutional account or for the account or
          accounts of a Qualified Institutional Buyer or (B) purchasing such
          Series 2006-1 Notes in a transaction exempt from registration under
          the Securities Act and in compliance with the provisions of this
          Supplement and in compliance with the legend set forth in clause (iv)
          below or (C) not a U.S. Person as defined in Regulation S (a "U.S.
          Person") and is acquiring such Series 2006-1 Notes outside of the
          United States.

               (ii) It is purchasing one or more Series 2006-1 Notes in an
          amount of at least $100,000 (or, if greater, the U.S. dollar
          equivalent of 50,000 Euros) and it understands that such Series 2006-1
          Notes may be resold, pledged or otherwise

                                       11

          transferred only in an amount of at least $100,000 (or, if greater,
          the U.S. dollar equivalent of 50,000 Euros.

               (iii) It represents and warrants to the Issuer, the Indenture
          Trustee and the Initial Purchasers, that either (i) it is not
          acquiring the Series 2006-1 Note with the plan assets of a Benefit
          Plan or any other plan that is subject to a law that is similar to
          Title I of ERISA or Section 4975 of the Code or (ii) the acquisition,
          holding and disposition of the Series 2006-1 Note will not give rise
          to a non-exempt prohibited transaction under Section 406 of ERISA,
          Section 4975 of the Code or any similar applicable law.

               (iv) It understands that the Series 2006-1 Notes are being
          transferred to it in a transaction not involving any public offering
          within the meaning of the Securities Act, and that, if in the future
          it decides to resell, pledge or otherwise transfer any Series 2006-1
          Notes, such Series 2006-1 Notes may be resold, pledged or transferred
          only in accordance with applicable state securities laws and (1) in a
          transaction meeting the requirements of Rule 144A, to a Person that
          the seller reasonably believes is a Qualified Institutional Buyer that
          purchases for its own account (or for the account or accounts of a
          Qualified Institutional Buyer) and to whom notice is given that the
          resale, pledge or transfer is being made in reliance on Rule 144A, or
          (2) (A) to a Person that is an Institutional Accredited Investor, is
          taking delivery of such Series 2006-1 Notes in an amount of at least
          $100,000 (or, if greater, the U.S. dollar equivalent of 50,000 Euros),
          and delivers an Investment Letter to the Indenture Trustee or (B) to a
          Person that is taking delivery of such Series 2006-1 Notes pursuant to
          a transaction that is otherwise exempt from the registration
          requirements of the Securities Act, as confirmed in an opinion of
          counsel addressed to the Indenture Trustee, the Issuer and the
          transferor, which counsel and opinion are satisfactory to the
          Indenture Trustee, the Issuer and the transferor, or (3) in an
          offshore transaction in accordance with Rule 903 or 904 of Regulation
          S.

               (v) It is not a Competitor.

               (vi) It understands that each Series 2006-1 Note shall bear a
          legend substantially to the following effect:

          [FOR BOOK-ENTRY NOTES ONLY: UNLESS THIS SERIES 2006-1 NOTE IS
          PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
          COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE TRANSFEROR OF SUCH
          NOTE (THE "TRANSFEROR") OR ITS AGENT FOR REGISTRATION OF TRANSFER,
          EXCHANGE OR PAYMENT, AND ANY SERIES 2006-1 NOTE ISSUED IS REGISTERED
          IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN
          AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE &
          CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
          REPRESENTATIVE OF DTC), ANY TRANSFER,

                                       12

          PLEDGE OR THE USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
          WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
          INTEREST HEREIN.]

          THIS SERIES 2006-1 NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES
          ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"). THE HOLDER HEREOF, BY
          PURCHASING THIS SERIES 2006-1 NOTE, AGREES THAT SUCH SERIES 2006-1
          NOTE MAY BE RESOLD, PLEDGED OR TRANSFERRED ONLY IN ACCORDANCE WITH ANY
          APPLICABLE STATE SECURITIES LAWS AND (1) IN A TRANSACTION MEETING THE
          REQUIREMENTS OF RULE 144A UNDER THE SECURITIES ACT ("RULE 144A"), TO A
          PERSON THAT THE SELLER REASONABLY BELIEVES IS A QUALIFIED
          INSTITUTIONAL BUYER THAT PURCHASES FOR ITS OWN ACCOUNT (OR FOR THE
          ACCOUNT OR ACCOUNTS OF A QUALIFIED INSTITUTIONAL BUYER) AND TO WHOM
          NOTICE IS GIVEN THAT THE RESALE, PLEDGE OR OTHER TRANSFER IS BEING
          MADE IN RELIANCE ON RULE 144A, OR (2) IN AN OFFSHORE TRANSACTION
          COMPLYING WITH RULE 903 OR RULE 904 OF REGULATION S UNDER THE
          SECURITIES ACT OR (3) TO A PERSON (A) THAT IS AN INSTITUTIONAL
          "ACCREDITED INVESTOR," WITHIN THE MEANING OF RULE 501(A)(1), (2), (3)
          OR (7) OF REGULATION D UNDER THE SECURITIES ACT, IS TAKING DELIVERY OF
          SUCH SERIES 2006-1 NOTE IN AN AMOUNT OF AT LEAST $100,000 (OR, IF
          GREATER, THE U.S. DOLLAR EQUIVALENT OF 50,000 EUROS) AND DELIVERS AN
          INVESTMENT LETTER TO THE INDENTURE TRUSTEE OR (B) THAT IS TAKING
          DELIVERY OF SUCH SERIES 2006-1 NOTE PURSUANT TO A TRANSACTION THAT IS
          OTHERWISE EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES
          ACT, AS CONFIRMED IN AN OPINION OF COUNSEL ADDRESSED TO THE INDENTURE
          TRUSTEE AND THE ISSUER, WHICH COUNSEL AND OPINION ARE SATISFACTORY TO
          THE ISSUER AND THE INDENTURE TRUSTEE.

          EACH PURCHASER AND TRANSFEREE OF A SERIES 2006-1 NOTE WILL BE DEEMED
          TO REPRESENT AND WARRANT THAT EITHER (I) IT IS NOT ACQUIRING THE
          SERIES 2006-1 NOTE WITH THE PLAN ASSETS OF AN "EMPLOYEE BENEFIT PLAN"
          AS DEFINED IN SECTION 3(3) OF THE EMPLOYEE RETIREMENT INCOME SECURITY
          ACT OF 1974, AS AMENDED ("ERISA"), WHICH IS SUBJECT TO THE PROVISIONS
          OF TITLE I OF ERISA, A "PLAN" DESCRIBED IN SECTION 4975(E)(1) OF THE
          INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE"), AN ENTITY
          WHOSE UNDERLYING ASSETS INCLUDE "PLAN ASSETS" OF ANY OF THE FOREGOING
          BY REASON OF AN EMPLOYEE BENEFIT PLAN'S OR PLAN'S INVESTMENT IN SUCH
          ENTITY, OR ANY OTHER PLAN

                                       13

          THAT IS SUBJECT TO A LAW THAT IS SIMILAR TO TITLE I OF ERISA OR
          SECTION 4975 OF THE CODE OR (II) THE ACQUISITION, HOLDING AND
          DISPOSITION OF THE SERIES 2006-1 NOTE WILL NOT GIVE RISE TO A
          NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA, SECTION
          4975 OF THE CODE OR ANY SIMILAR APPLICABLE LAW.

          THIS SERIES 2006-1 NOTE IS NOT GUARANTEED OR INSURED BY ANY
          GOVERNMENTAL AGENCY OR INSTRUMENTALITY.

               (vii) Each investor described in Section 206(a)(B) understands
          that the Series 2006-1 Notes have not and will not be registered under
          the Securities Act, that any offers, sales or deliveries of the Series
          2006-1 Notes purchased by it in the United States or to U.S. Persons
          prior to the date that is 40 days after the later of (i) the
          commencement of the distribution of the Series 2006-1 Notes and (ii)
          the 2006-1 Closing Date, may constitute a violation of United States
          law, and that distributions of principal and interest will be made in
          respect of such Notes only following the delivery by the holder of a
          certification of non-U.S. beneficial ownership or the exchange of
          beneficial interest in Temporary Regulation S Global Notes for
          beneficial interests in the related Permanent Regulation S Global
          Notes (which in each case will itself require a certification of
          non-U.S. beneficial ownership), at the times and in the manner set
          forth in this Supplement.

               (viii) The Temporary Regulation S Global Notes representing the
          Series 2006-1 Notes sold to each investor described in Section
          206(a)(B) will bear a legend to the following effect, unless the
          Issuer determines otherwise consistent with Applicable Law:

          [FOR REGULATION S GLOBAL NOTES ONLY:

          EACH INVESTOR PURCHASING THIS NOTE IN RELIANCE UPON REGULATION S OF
          THE SECURITIES ACT UNDERSTANDS THAT THE NOTES HAVE NOT AND WILL NOT BE
          REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
          "SECURITIES ACT"), THAT ANY OFFERS, SALES OR DELIVERIES OF THE NOTES
          PURCHASED BY IT IN THE UNITED STATES OR TO U.S. PERSONS (AS DEFINED IN
          REGULATION S UNDER THE SECURITIES ACT) PRIOR TO THE DATE THAT IS 40
          DAYS AFTER THE LATER OF (I) THE COMMENCEMENT OF THE DISTRIBUTION OF
          THE NOTES AND (II) THE CLOSING DATE, MAY CONSTITUTE A VIOLATION OF
          UNITED STATES LAW, AND THAT DISTRIBUTIONS OF PRINCIPAL AND INTEREST
          WILL BE MADE IN RESPECT OF SUCH NOTES ONLY FOLLOWING THE DELIVERY BY
          THE HOLDER OF A CERTIFICATION OF NON-U.S. BENEFICIAL OWNERSHIP OR THE
          EXCHANGE OF BENEFICIAL INTEREST IN TEMPORARY REGULATION S GLOBAL NOTES
          FOR BENEFICIAL INTERESTS IN THE RELATED PERMANENT REGULATION S GLOBAL
          NOTES

                                       14

          (WHICH IN EACH CASE WILL ITSELF REQUIRE A CERTIFICATION OF NON-U.S.
          BENEFICIAL OWNERSHIP), AT THE TIMES AND IN THE MANNER SET FORTH IN THE
          INDENTURE.]

               (ix) The Indenture Trustee shall not permit the transfer of any
          Series 2006-1 Notes unless such transfer complies with the terms of
          the foregoing legends and, in the case of a transfer (i) to an
          Institutional Accredited Investor (other than a Qualified
          Institutional Buyer), the transferee delivers a completed Investment
          Letter to the Indenture Trustee, or (ii) to a Person other than a
          Qualified Institutional Buyer or an Institutional Accredited Investor,
          upon delivery of an Opinion of Counsel satisfactory to the Indenture
          Trustee, the Issuer and the Transferor, to the effect that the
          transferee is taking delivery of the Series 2006-1 Notes in a
          transaction that is otherwise exempt from the registration
          requirements of the Securities Act, which counsel and opinion are
          satisfactory to the Indenture Trustee, the Issuer and the Transferor.

          (c) Forms substantially in the form of Exhibit(s) B through F, as
appropriate, shall be completed in connection with any transfer of the Series
2006-1 Notes.

                                       15

                                  ARTICLE III

                        Series 2006-1 Series Account and

              Allocation and Application of Amounts Therein; Policy

          Section 301. Series 2006-1 Series Account. The Issuer shall establish
on the 2006-1 Closing Date and maintain, so long as any Series 2006-1 Note is
Outstanding, an Eligible Account in the name of the Issuer with the Indenture
Trustee which shall be designated as the Series 2006-1 Series Account, which
account shall be pledged to the Indenture Trustee for the benefit of the Series
2006-1 Noteholders and the Series Enhancer pursuant to the Indenture and this
Supplement. All deposits of funds by or for the benefit of the Series 2006-1
Noteholders from the Trust Account, the Restricted Cash Account and the
Temporary Loss Account, shall be accumulated in, and withdrawn from, the Series
2006-1 Series Account in accordance with the provisions of the Indenture and
this Supplement.

          Section 302. Investment of Funds. Any funds on deposit in the Series
2006-1 Series Account shall be invested in the same manner as the funds
deposited and held in the Trust Account.

          Section 303. Distributions from Series 2006-1 Series Account. On each
Payment Date and on each other date on which any payment is to be made with
respect to the Series 2006-1 Notes in accordance with Sections 203, 204 or 205
hereof, the Indenture Trustee shall distribute funds then on deposit in the
Series 2006-1 Series Account in accordance with the provisions of either
subsection (I), (II) or (III) of this Section 303.

     (I) If neither an Early Amortization Event nor an Event of Default shall
have occurred and be continuing:

          (1) To each Holder of a Series 2006-1 Note on the immediately
preceding Record Date, on a pro rata basis an amount equal to its Series 2006-1
Note Interest Payment (exclusive of Default Fees) for such Payment Date;

          (2) To the Series Enhancer, an amount equal to any Repayment Amounts
owing in respect of any Series 2006-1 Note Interest Payments paid by the Series
Enhancer;

          (3) To each Holder of a Series 2006-1 Note on the immediately
preceding Record Date, an amount equal to its pro rata portion of the Minimum
Principal Payment Amount then due and payable to the Holders of the Series
2006-1 Notes on such Payment Date;

          (4) To each Holder of a Series 2006-1 Note on the immediately
preceding Record Date, an amount equal to its pro rata portion of the Scheduled
Principal Payment Amount then due and payable to the Holders of the Series
2006-1 Notes on such Payment Date;

          (5) To each Holder of a Series 2006-1 Note on the immediately
preceding Record Date, an amount equal to its pro rata portion of the
Supplemental Principal Payment Amount, if any, allocable to the Series 2006-1
Notes on such Payment Date;

                                       16

          (6) To the Series Enhancer, an amount equal to all Repayment Amounts
in respect of the Series 2006-1 Notes not paid pursuant to clause (2) above
which are then due and payable pursuant to the Insurance Agreement;

          (7) To the Series Enhancer, an amount equal to all Indemnified
Liabilities in respect of the Series 2006-1 Notes then due and payable to the
Series Enhancer pursuant to the Series 2006-1 Transaction Documents;

          (8) To each Series 2006-1 Noteholder on the immediately preceding
Record Date, on a pro rata basis an amount equal to Default Fees (if any) then
due and payable pursuant to the Series 2006-1 Transaction Documents; and

          (9) After application of the amounts required to be paid pursuant to
Section 302 of the Indenture, to the Issuer or its assigns, any remaining
amounts then on deposit in the Series 2006-1 Series Account.

     (II) If an Early Amortization Event shall have occurred and be continuing
with respect to any Series but no Event of Default shall have occurred and be
continuing (or an Event of Default has occurred but the Notes have not been
accelerated in accordance with Section 802 of the Indenture):

          (1) To each Holder of a Series 2006-1 Note on the immediately
preceding Record Date, on a pro rata basis an amount equal to its Series 2006-1
Note Interest Payment (exclusive of Default Fees) for such Payment Date;

          (2) To the Series Enhancer, an amount equal to any Repayment Amounts
owing in respect of any Series 2006-1 Note Interest Payments paid by the Series
Enhancer;

          (3) To each Holder of a Series 2006-1 Note on the immediately
preceding Record Date, an amount equal to its pro rata portion of the Minimum
Principal Payment Amount then due and payable to the Holders of the Series
2006-1 Notes on such Payment Date;

          (4) To each Holder of a Series 2006-1 Note on the immediately
preceding Record Date, an amount equal to its pro rata portion of the Scheduled
Principal Payment Amount then due and payable to the Holders of the Series
2006-1 Notes on such Payment Date;

          (5) To each Holder of a Series 2006-1 Note on the immediately
preceding Record Date, an amount equal to its pro rata portion of the then
Aggregate Series 2006-1 Note Principal Balance until the Aggregate Series 2006-1
Note Principal Balance has been reduced to zero;

          (6) To the Series Enhancer, an amount equal to all Repayment Amounts
in respect of the Series 2006-1 Notes not paid pursuant to clause (2) above
which are then due and payable pursuant to the Insurance Agreement;

          (7) To the Series Enhancer and each Holder of a Series 2006-1 Note on
the immediately preceding Record Date, pro rata (based on respective amounts
due), an amount equal to (i) in the case of the Series Enhancer, all Indemnified
Liabilities in respect of the Series

                                       17

2006-1 Notes then due and payable to the Series Enhancer pursuant to the Series
2006-1 Transaction Documents, and (ii) in the case of the Series 2006-1
Noteholders, all Default Fees then due and payable by the Issuer to the Series
2006-1 Noteholders pursuant to the Series 2006-1 Transaction Documents; and

          (8) After application of the amounts required to be paid pursuant to
Section 302 of the Indenture, to the Issuer or its assigns, any remaining
amounts then on deposit in the Series 2006-1 Series Account.

     (III) If an Event of Default shall have occurred and be continuing and the
Notes of any Series have been declared due and payable and such declaration and
its consequences have not been rescinded or annulled:

          (1) To each Holder of a Series 2006-1 Note on the immediately
preceding Record Date, on a pro rata basis an amount equal to its Series 2006-1
Note Interest Payment (exclusive of Default Fees) then due and payable for such
Payment Date to the Holders of the Series 2006-1 Notes;

          (2) To the Series Enhancer, an amount equal to any Repayment Amounts
owing in respect of any Series 2006-1 Note Interest Payments paid by the Series
Enhancer;

          (3) To each Holder of a Series 2006-1 Note on the immediately
preceding Record Date on a pro rata basis, an amount equal to the Aggregate
Series 2006-1 Note Principal Balance until the Aggregate Series 2006-1 Note
Principal Balance has been reduced to zero;

          (4) To the Series Enhancer, an amount equal to all Repayment Amounts
in respect of the Series 2006-1 Notes not paid pursuant to clause (2) above
which are then due and payable pursuant to the Insurance Agreement;

          (5) To the Series Enhancer and each Holder of a Series 2006-1 Note on
the immediately preceding Record Date, pro rata (based on respective amounts
due), an amount equal to (i) in the case of the Series Enhancer, all Indemnified
Liabilities in respect of the Series 2006-1 Notes then due and payable to the
Series Enhancer pursuant to the Series 2006-1 Transaction Documents, and (ii) in
the case of the Series 2006-1 Noteholders, on a pro rata basis all Default Fees
then due and payable by the Issuer to the Series 2006-1 Noteholders pursuant to
the Series 2006-1 Transaction Documents; and

          (6) After application of the amounts required to be paid pursuant to
Section 302 of the Indenture, to the Issuer or its assigns, any remaining
amounts then on deposit in the Series 2006-1 Series Account.

          Any amounts payable to a Series 2006-1 Noteholder or the Series
Enhancer pursuant to this Section 303 shall be made by wire transfer of
immediately available funds to the account that such Series 2006-1 Noteholder or
the Series Enhancer has designated to the Indenture Trustee in writing at least
five Business Days prior to the applicable Payment Date. Any amounts payable by
the Issuer hereunder are contingent upon the availability of funds to make such
payment in accordance with the provisions of this Section 303 and, to the extent
such funds are not available, shall not constitute a "Claim" (as defined in
Section 101(5) of the

                                       18

Bankruptcy Code) against the Issuer in any bankruptcy, reorganization,
arrangement, insolvency or liquidation proceedings involving the Issuer in the
event that such amounts are not paid in accordance with Section 303 of this
Supplement.

          Section 304. The Policy.

          (a) On each Determination Date, the Indenture Trustee shall determine,
with respect to the immediately following Payment Date, based solely on the
information contained in the Manager Report, whether there exists a Deficiency
Amount.

          (b) If there exists a Deficiency Amount which is an Insured Amount
under the Policy with respect to a Payment Date, the Indenture Trustee shall
complete a Notice in the form of Exhibit A to the Policy and submit such claim
for such Insured Amount to the Series Enhancer in accordance with the terms of
the Policy on the Determination Date preceding such Payment Date. Any payment
made by the Series Enhancer under the Policy shall be applied solely to the
payment of principal or interest (other than Default Fees) on the Series 2006-1
Notes subject to the terms of the Policy.

          (c) The Indenture Trustee shall (i) receive Insured Amounts as
attorney-in-fact of each of the Series 2006-1 Noteholders and (ii) disburse such
Insured Amounts directly to the Series 2006-1 Noteholders. The Issuer hereby
agrees for the benefit of the Series Enhancer (and each Series 2006-1
Noteholder, by acceptance of its Series 2006-1 Notes, will be deemed to have
agreed) that, without limiting any other rights of the Series Enhancer, to the
extent the Series Enhancer pays, or causes to be paid, Insured Amounts, either
directly or indirectly (as by paying through distribution to the Indenture
Trustee), to the Series 2006-1 Noteholders, the Series Enhancer will be entitled
to receive the related Reimbursement Amount pursuant to Section 303 hereof in
lieu of the Series 2006-1 Noteholders and will be subrogated to their payment
rights thereunder.

          (d) The Series 2006-1 Notes will be insured by the Policy pursuant to
the terms set forth therein, notwithstanding any provisions to the contrary
contained in this Supplement. All amounts received under the Policy shall be
used solely for the payment when due to the Series 2006-1 Noteholders of the
Insured Amounts.

          (e) Anything herein to the contrary notwithstanding, any payment with
respect to the principal of or interest on the Series 2006-1 Notes which is made
with monies received pursuant to the terms of the Policy shall not be considered
payment by the Issuer of the Series 2006-1 Notes, shall not discharge the Issuer
in respect of its obligation to make such payment, and shall not result in the
payment of, or the provision for the payment of, the principal of or interest
on, the Series 2006-1 Notes for purposes of Sections 203 and 204 hereof or of
the Indenture; provided, however, that notwithstanding any failure of the Issuer
to pay any such amounts, to the extent such payment is made to the Series 2006-1
Noteholders with monies received pursuant to the terms of the Policy, the Series
2006-1 Noteholders may not institute any Proceeding with respect to this
Supplement or any other Transaction Document, or exercise any other remedy
hereunder or thereunder without the prior written consent of the Series
Enhancer. The Issuer and the Indenture Trustee acknowledge that, without the
need for any further action on the part of the Series Enhancer, the Issuer, the
Indenture Trustee or the Note Registrar, (i) to

                                       19

the extent the Series Enhancer makes payments, directly or indirectly, on
account of principal of, or interest on, the Series 2006-1 Notes to the Series
2006-1 Noteholders, the Series Enhancer will be fully subrogated to the rights
of such Series 2006-1 Noteholders to receive such principal and interest
(including Default Fees) from the Issuer, and (ii) the Series Enhancer shall be
paid such principal and interest in its capacity as partial subrogee of the
Series 2006-1 Noteholders, but only from the sources and in the manner provided
herein for the payment of such principal and interest. To evidence the Series
Enhancer's subrogation to the rights of the Series 2006-1 Noteholders, the Note
Register shall, upon receipt from the Series Enhancer of proof of payment by the
Series Enhancer of any Insured Amount, make such notations upon the register of
the Series 2006-1 Noteholders, if any, as is necessary to reflect the Series
Enhancer's right to be paid such principal and interest in its capacity as a
partial subrogee of the Series 2006-1 Notes. Nothing in this Section 304(e)
shall expose the Issuer or the Collateral to double recovery for any such
amounts.

          (f) The parties hereto grant to the Series Enhancer, as long as no
Series Enhancer Default shall have occurred and is continuing, the right of
prior approval of amendments, waivers or supplements to the Series 2006-1
Transaction Documents available to the Series 2006-1 Noteholders thereunder and
of the exercise of any option, vote, right, power or the like available to the
Series 2006-1 Noteholders hereunder. Nothing contained in this paragraph (f)
shall vitiate the right of a Series 2006-1 Noteholder to consent to any
amendment of the type set forth in clauses (i) through (vii) of Section 1002(a)
of the Indenture.

          (g) The Indenture Trustee shall keep a complete and accurate record of
the amount and allocation of Insured Amounts and the Series Enhancer shall have
the right to inspect such records at reasonable times upon three (3) Business
Days' prior written notice to the Indenture Trustee.

          (h) In the event that a Preference Amount is payable under the Policy,
the Indenture Trustee shall so notify the Series Enhancer, shall comply with the
provisions of the Policy to obtain payment by the Series Enhancer of such
Preference Amount at the earliest possible date, and shall, at the time it
provides notice to the Series Enhancer, notify the Series 2006-1 Noteholders by
mail that, in the event that any Series 2006-1 Noteholder's payment is so
recoverable, the Indenture Trustee on behalf of such Series 2006-1 Noteholder
will be entitled to payment thereof pursuant to the terms of the Policy. The
Indenture Trustee shall furnish to the Series Enhancer, at its written request,
the requested records it holds in its possession evidencing the payments of
principal of and interest on the Series 2006-1 Notes, if any, which have been
made by the Indenture Trustee and subsequently recovered from the Series 2006-1
Noteholders, and the dates on which such payments were made.

          Without limiting any rights of the Series Enhancer under the Policy or
any other Series 2006-1 Transaction Document, and without modifying or otherwise
affecting any terms or conditions of the Policy, each Series 2006-1 Noteholder,
by its purchase of the Series 2006-1 Notes, and the Indenture Trustee hereby
agree that, the Series Enhancer (so long as no Series Enhancer Default exists)
may at any time during the continuation of any Proceeding relating to a
Preference Amount direct all matters relating to such Preference Amount,
including, without limitation, (i) the direction of any appeal of any order
relating to any Preference Amount and (ii) the posting of any surety,
supersedeas or performance bond pending any such appeal. In

                                       20

addition, and without limitation of the foregoing, the Series Enhancer shall be
subrogated to the rights of the Indenture Trustee and each such Series 2006-1
Noteholder, in the conduct of any Proceeding with respect to any such Preference
Amount, including, without limitation, all rights of any party to an adversary
proceeding action with respect to any order issued in connection with any such
Preference Amount. Insured Amounts paid by the Series Enhancer to the Indenture
Trustee shall be received by the Indenture Trustee, as agent to the Series
2006-1 Noteholders. The Indenture Trustee, as agent to the Series 2006-1
Noteholders, hereby acknowledges and affirms that the Series Enhancer shall be
fully subrogated to the rights of the Series 2006-1 Noteholders to any monies
paid or payable in respect of the Series 2006-1 Notes to the extent of any
payment made by the Series Enhancer pursuant to the terms of the Policy, and any
interest (including Repayment Amounts consisting of interest on any Repayment
Amount) due thereon.

          (i) By acceptance of a Series 2006-1 Note, each Series 2006-1
Noteholder agrees to be bound by the terms of the Policy, including, without
limitation, the method and timing of payment and the Series Enhancer's right of
subrogation.

          (j) Notwithstanding the foregoing, in the event that payments on the
Series 2006-1 Notes are accelerated, such accelerated payments will not be
covered by the Series Enhancer under the Policy, unless the Series Enhancer
shall elect to make such accelerated payments in accordance with and subject to
the terms of the Policy.

          (k) The Indenture Trustee shall be entitled to enforce on behalf of
the Series 2006-1 Noteholders the obligations of the Series Enhancer under the
Policy. Notwithstanding any other provision of this Supplement or any Series
2006-1 Transaction Document, the Series 2006-1 Noteholders are not entitled to
make any claims under the Policy or institute proceedings directly against the
Series Enhancer.

          (l) Nothing in this Section 304 or in any other Section hereof shall
or is intended to modify any of the terms, provisions or conditions of the
Policy.

                                   ARTICLE IV

                                   [Reserved]

                                       21

                                   ARTICLE V

                             Conditions to Issuance

          Section 501. Conditions to Issuance. The Indenture Trustee shall not
authenticate the Series 2006-1 Notes unless (i) all conditions to the issuance
of the Series 2006-1 Notes under the Series 2006-1 Note Purchase Agreement shall
have been satisfied, and (ii) the Issuer shall have delivered a certificate to
the Indenture Trustee to the effect that all conditions set forth in the Series
2006-1 Note Purchase Agreement shall have been satisfied.

                                       22

                                   ARTICLE VI

                         Representations and Warranties

          To induce the Series 2006-1 Noteholders to purchase the Series 2006-1
Notes hereunder, the Issuer hereby represents and warrants as of the 2006-1
Closing Date to the Series Enhancer and the Indenture Trustee for the benefit of
the Series 2006-1 Noteholders that:

          Section 601. Existence. The Issuer is a limited liability company duly
organized, validly existing and in compliance under the laws of Delaware. The
Issuer is in good standing and is duly qualified to do business in each
jurisdiction where the failure to do so would reasonably be expected to have a
material adverse effect upon the Issuer, and has all licenses, permits, charters
and registrations the failure to hold which would reasonably be expected to have
a material adverse effect on the Issuer.

          Section 602. Authorization. The Issuer has the power and is duly
authorized to execute and deliver this Supplement and the other Series 2006-1
Transaction Documents to which it is a party; the Issuer is and will continue to
be duly authorized to borrow monies hereunder and under the Indenture; and the
Issuer is and will continue to be authorized to perform its obligations under
the Indenture, this Supplement and the other Series 2006-1 Transaction
Documents. The execution, delivery and performance by the Issuer of this
Supplement and the other Series 2006-1 Transaction Documents to which it is a
party and the borrowings hereunder do not and will not require any consent or
approval of any Governmental Authority, stockholder or any other Person which
has not already been obtained.

          Section 603. No Conflict; Legal Compliance. The execution, delivery
and performance of this Supplement and each of the other Series 2006-1
Transaction Documents and the execution, delivery and payment of the Series
2006-1 Notes will not: (a) contravene any provision of the Issuer's charter
documents, by-laws or other organizational documents; (b) contravene, conflict
with or violate any Applicable Law or regulation, or any order, writ, judgment,
injunction, decree, determination or award of any Governmental Authority; or (c)
violate or result in the breach of, or constitute a default under the Indenture,
this Supplement, the other Series 2006-1 Transaction Documents, any other
indenture or other loan or credit agreement, or other agreement or instrument to
which the Issuer is a party or by which the Issuer, or its property and assets
may be bound or affected. The Issuer is not in violation or breach of or default
under any law, rule, regulation, order, writ, judgment, injunction, decree,
determination or award or any contract, agreement, lease, license, indenture or
other instrument to which it is a party, in each case, in a manner that would
reasonably be expected to result in a Material Adverse Change.

          Section 604. Validity and Binding Effect. This Supplement is, and each
Series 2006-1 Transaction Document to which the Issuer is a party, when duly
executed and delivered, will be, the legal, valid and binding obligations of the
Issuer, enforceable against the Issuer in accordance with its terms, except as
enforceability may be limited by bankruptcy, insolvency or other similar laws of
general application affecting the enforcement of creditors' rights or by general
principles of equity limiting the availability of equitable remedies.

                                       23

          Section 605. Financial Conditions. Since December 31, 2005, there has
been no Material Adverse Change in the financial condition of the Issuer.

          Section 606. Place of Business. The Issuer's only "place of business"
(within the meaning of Section 9-307 of the UCC) is located at its address
determined in accordance with Section 1307 of the Indenture.

          Section 607. No Agreements or Contracts. The Issuer is not now and has
not been a party to any contract or agreement (whether written or oral) other
than the Series 2005-1 Transaction Documents (as such term is defined in the
Supplement for such Series), the Series 2006-1 Transaction Documents and the
Transaction Documents (as defined in the Indenture).

          Section 608. Consents and Approvals. No approval, authorization or
consent of any trustee or holder of any Indebtedness or obligation of the Issuer
or of any other Person under any agreement, contract, lease or license or
similar document or instrument to which the Issuer is a party or by which the
Issuer is bound, is required to be obtained by the Issuer in order to make or
consummate the transactions contemplated under the Series 2006-1 Transaction
Documents, except for those approvals, authorizations and consents that have
been obtained on or prior to the 2006-1 Closing Date or which the failure to
obtain would not reasonably be expected to result in a Material Adverse Change.
All consents and approvals of, filings and registrations with, and other actions
in respect of, all Governmental Authorities required to be obtained by the
Issuer in order to make or consummate the transactions contemplated under the
Series 2006-1 Transaction Documents have been, or prior to the time when
required will have been, obtained, given, filed or taken and are or will be in
full force and effect other than any such consents, approvals, filings or
registrations the failure to so obtain or make would not reasonably be expected
to result in a Material Adverse Change.

          Section 609. Margin Regulations. The Issuer does not own any "margin
security", as that term is defined in Regulation U of the Federal Reserve Board,
and the proceeds of the Series 2006-1 Notes issued under this Supplement will be
used only for the purposes contemplated hereunder. None of such proceeds will be
used, directly or indirectly, for the purpose of purchasing or carrying any
margin security, for the purpose of reducing or retiring any Indebtedness which
was originally incurred to purchase or carry any margin security or for any
other purpose which might cause any of the loans under this Supplement to be
considered a "purpose credit" within the meaning of Regulations T, U and X. The
Issuer will not take or permit any agent acting on its behalf to take any action
which might cause this Supplement or any document or instrument delivered by the
Issuer pursuant hereto to violate any regulation of the Federal Reserve Board.

          Section 610. Taxes. All federal, state, local and foreign tax returns,
reports and statements required to be filed by the Issuer have been filed with
the appropriate Governmental Authorities, and all taxes and other impositions
shown thereon to be due and payable by the Issuer have been paid prior to the
date on which any fine, penalty, interest or late charge may be added thereto
for nonpayment thereof, or any such fine, penalty, interest, late charge or loss
has been paid, or the Issuer is contesting its liability therefor in good faith
and has fully reserved all such amounts according to GAAP in the financial
statements provided pursuant to Section 626 of the Indenture. The Issuer has
paid when due and payable all material charges upon the books of

                                       24

the Issuer and no Governmental Authority has asserted any Lien against the
Issuer with respect to unpaid taxes. Proper and accurate amounts have been
withheld by the Issuer from its employees for all periods in full and complete
compliance with the tax, social security and unemployment withholding provisions
of applicable federal, state, local and foreign law and such withholdings have
been timely paid to the respective Governmental Authorities.

          Section 611. Other Regulations. The Issuer is not: (a) a "public
utility company" or a "holding company," or an "affiliate" or a "subsidiary
company" of a "holding company," or an "affiliate" of such a "subsidiary
company," as such terms are defined in the Public Utility Holding Company Act of
1935, as amended, or (b) an "investment company," or an "affiliated person" of,
or a "promoter" or "principal underwriter" for, an "investment company," as such
terms are defined in the Investment Company Act of 1940, as amended. The
issuance of the Series 2006-1 Notes hereunder and the application of the
proceeds and repayment thereof by the Issuer and the performance of the
transactions contemplated by the Indenture, this Supplement and the other Series
2006-1 Transaction Documents will not violate any provision of the Investment
Company Act or the Public Utility Holding Company Act, or any rule, regulation
or order issued by the Securities and Exchange Commission thereunder.

          Section 612. Solvency and Separateness.

               (i) The capital of the Issuer is adequate for the business and
          undertakings of the Issuer.

               (ii) Other than with respect to the transactions contemplated
          hereby, and by the other Series 2006-1 Transaction Documents, the
          Series 2005-1 Transaction Documents and the Transaction Documents, the
          Issuer is not engaged in any business transactions with the Manager
          except as permitted by the Management Agreement or with the Seller
          except as permitted by the Contribution and Sale Agreement.

               (iii) At all times, at least one (1) member of the board of
          directors of the Issuer shall qualify as an Independent Manager (as
          defined in the Issuer's limited liability company agreement).

               (iv) The Issuer's funds and assets are not, and will not be,
          commingled with those of the Manager, except as permitted by the
          Management Agreement.

               (v) The Issuer shall maintain (A) correct and complete books and
          records of account, and (B) minutes of the meetings and other
          proceedings of its board of managers.

               (vi) The Issuer is not insolvent under the Insolvency Law and
          will not be rendered insolvent by the transactions contemplated by the
          Series 2006-1 Transaction Documents and after giving effect to such
          transactions, the Issuer will not be left with an unreasonably small
          amount of capital with which to engage in its business nor will the
          Issuer have intended to incur, or believe that it has incurred, debts
          beyond its ability to pay such debts as they mature. The Issuer does
          not contemplate the commencement of insolvency, bankruptcy,
          liquidation

                                       25

          or consolidation Proceedings or the appointment of a receiver,
          liquidator, trustee or similar official in respect of the Issuer or
          any of its assets.

          Section 613. Survival of Representations and Warranties. So long as
any of the Series 2006-1 Notes shall be Outstanding and until payment and
performance in full of the Outstanding Obligations, the representations and
warranties contained herein shall have a continuing effect as having been true
when made.

          Section 614. No Default. No Event of Default or Early Amortization
Event has occurred and is continuing. No event or condition that with notice or
the passage of time (or both) could reasonably be expected to constitute an
Event of Default or Early Amortization Event has occurred or is continuing.

          Section 615. Litigation and Contingent Liabilities. No claims,
litigation, arbitration proceedings or governmental proceedings by any
Governmental Authority are pending or threatened against or are affecting the
Issuer the results of which will materially and adversely interfere with the
consummation of any of the transactions contemplated by the Indenture, this
Supplement or any document issued or delivered in connection therewith or
herewith.

          Section 616. Title; Liens. The Issuer has good, legal and marketable
title to each of its respective assets, and none of such assets is subject to
any Lien, except for Permitted Encumbrances and the Liens created or permitted
pursuant to the Indenture.

          Section 617. Subsidiaries. The Issuer has no subsidiaries.

          Section 618. No Partnership. The Issuer is not a partner or joint
venturer in any partnership or joint venture.

          Section 619. Pension and Welfare Plans. During the
twelve-consecutive-month period prior to the date of the execution and delivery
of this Supplement, no steps have been taken to terminate any Plan, and no
contribution failure has occurred with respect to any Plan, sufficient to give
rise to a lien under section 302(f) of ERISA. No condition exists or event or
transaction, has occurred with respect to any Plan which could result in the
Issuer or any ERISA Affiliate of the Issuer incurring any material liability,
fine or penalty. As of the 2006-1 Closing Date, the Issuer is not a Benefit Plan
or any other plan that is subject to a law that is similar to Title I of ERISA
or Section 4975 of the Code.

          Section 620. Ownership of the Issuer. On the 2006-1 Closing Date, all
of the issued and outstanding membership interests of the Issuer are owned by
TAL.

          Section 621. Security Interest Representations.

          (a) This Supplement, the Series 2005-1 Supplement and the Indenture
create a valid and continuing security interest (as defined in the UCC) in the
Collateral in favor of the Indenture Trustee, for the benefit of the
Noteholders, each Series Enhancer and any Hedge Counterparty, which security
interest is prior to all other Liens (other than Permitted Encumbrances), and is
enforceable as such as against creditors of and purchasers from the Issuer.

                                       26

          (b) The Containers constitute "goods" within the meaning of the
applicable UCC. The Leases constitute "tangible chattel paper" within the
meaning of the UCC. The lease receivables constitute "accounts" or "proceeds" of
the Leases within the meaning of the UCC. The Trust Account, the Restricted Cash
Account, the Temporary Loss Account and any Series Accounts constitute
"securities accounts" within the meaning of the UCC. The Issuer's contractual
rights under any Hedge Agreements, the Contribution and Sale Agreement and the
Management Agreement constitute "general intangibles" within the meaning of the
UCC.

          (c) The Issuer owns and has good and marketable title to the
Collateral, free and clear of any Lien (whether senior, junior or pari passu),
claim or encumbrance of any Person, except for Permitted Encumbrances.

          (d) The Issuer has caused the filing of all appropriate financing
statements or documents of similar import in the proper filing office in the
appropriate jurisdictions under Applicable Law in order to perfect the security
interest in the Collateral granted to the Indenture Trustee in this Supplement,
the Series 2005-1 Supplement and the Indenture and such security interest
constitutes a perfected security interest in favor of the Indenture Trustee. All
financing statements filed against the Issuer in favor of the Indenture Trustee
in connection herewith describing the Collateral contain a statement to the
following effect: "A purchase or acquisition of a security interest in any
collateral described in this financing statement will violate the rights of the
Secured Party."

          (e) Other than the security interest granted to the Indenture Trustee
pursuant to this Supplement, the Series 2005-1 Supplement and the Indenture, the
Issuer has not pledged, assigned, sold, granted a security interest in, or
otherwise conveyed any of the Collateral, except as permitted pursuant to the
Indenture. The Issuer has not authorized the filing of, and is not aware of, any
financing statements against the Issuer that include a description of collateral
covering the Collateral other than any financing statement or document of
similar import (i) relating to the security interest granted to the Indenture
Trustee in this Supplement, the Series 2005-1 Supplement or the Indenture or
(ii) that has been terminated. The Issuer has no actual knowledge of any
judgment or tax lien filings against the Issuer.

          (f) Pursuant to Section 3.3.5 of the Management Agreement, the Manager
has acknowledged that it is holding the Leases, to the extent they relate to the
Managed Containers, on behalf of, and for the benefit of, the Indenture Trustee.
None of the Leases that constitute or evidence the Collateral has any marks or
notations indicating that they have been pledged, assigned or otherwise conveyed
to any Person. The Seller has caused the filing of all appropriate financing
statements or documents of similar import in the proper filing office in the
appropriate jurisdictions under Applicable Law in order to perfect the ownership
interest of the Issuer (and the Indenture Trustee as its assignee) in the Leases
(to the extent that such Leases relate to the Managed Containers) arising under
the Contribution and Sale Agreement.

          (g) The Issuer has received all necessary consents and approvals
required by the terms of the Collateral to the pledge to the Indenture Trustee
of its interest and rights in such Collateral hereunder or under the Indenture.

                                       27

          (h) U.S. Bank National Association (in its capacity as securities
intermediary) has identified in its records the Indenture Trustee as the Person
having a Security Entitlement in each of the Trust Account, the Restricted Cash
Account, the Temporary Loss Account and any Series Accounts.

          (i) The Trust Account, the Restricted Cash Account, the Temporary Loss
Account and any Series Accounts are not in the name of any Person other than the
Issuer. The Issuer has not consented for U.S. Bank National Association (as the
securities intermediary of the Trust Account, the Restricted Cash Account, the
Temporary Loss Account and any Series Accounts) to comply with Entitlement
Orders of any Person other than the Indenture Trustee.

          (j) No creditor of the Issuer (other than (x) with respect to the
Managed Containers, the related lessee and (y) the Manager in its capacity as
Manager under the Management Agreement) has in its possession any goods that
constitute or evidence the Collateral, other than for purposes of repair,
refurbishment, painting, positioning, storage and other similar matters with
respect to Managed Containers.

The representations and warranties set forth in this Section 621 shall survive
until this Supplement is terminated in accordance with its terms and the terms
of the Indenture. Any breaches of the representations and warranties set forth
in this Section 621 may be waived by the Indenture Trustee, only with the prior
written consent of the Control Party and with the prior written notice to the
Rating Agencies.

                                       28

                                   ARTICLE VII

                            Miscellaneous Provisions

          Section 701. Ratification of Indenture. As supplemented by this
Supplement, the Indenture is in all respects ratified and confirmed and the
Indenture as so supplemented by this Supplement shall be read, taken and
construed as one and the same instrument.

          Section 702. Counterparts. This Supplement 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. Delivery of an executed counterpart of this Supplement by facsimile
or by electronic means shall be equally effective as of the delivery of an
originally executed counterpart.

          Section 703. Governing Law. THIS SUPPLEMENT SHALL BE CONSTRUED AND
INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, INCLUDING
SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW BUT OTHERWISE WITHOUT
GIVING EFFECT TO THE PRINCIPLES OF CONFLICTS OF LAW, AND THE RIGHTS, OBLIGATIONS
AND REMEDIES OF THE PARTIES HERETO SHALL BE DETERMINED IN ACCORDANCE WITH THE
LAWS OF THE STATE OF NEW YORK.

          Section 704. Notices to Rating Agencies. Whenever any notice or other
communication is required to be given to the Rating Agencies pursuant to the
Indenture or this Supplement, such notice or communication shall be delivered as
follows: (i) to Moody's at Moody's Investors Service, Inc., 99 Church Street,
New York, New York 10007, fax: (212/553-4392), email:
servicerreports@moodys.com, Attention: ABS Monitoring Group and (ii) if to S&P
at Standard & Poor's Ratings Services, 55 Water Street, 41st Floor, New York,
New York 10041, Attention: Asset-Backed Surveillance Group - phone:
(212/438-2435), fax: (212/438-2664). Any rights to notices conveyed to a Rating
Agency pursuant to the terms of this Supplement shall terminate immediately if
such Rating Agency no longer has a rating outstanding with respect to the Series
2006-1 Notes.

          Section 705. Amendments and Modifications. (a) The terms of this
Supplement may be waived, modified or amended only in a written instrument
signed by (A) each of the Issuer, the Control Party and the Indenture Trustee
and (B) (i) except with respect to the matters set forth in Section 1002(a) of
the Indenture, the prior written consent of the Majority of Holders and (ii) if
required pursuant to Section 304(g) hereof or pursuant to Section 1001 or
1002(a) of the Indenture, the Series Enhancer and each affected Series 2006-1
Noteholder. For the purposes of clause (B) of the preceding sentence, any
amendment to or modification or waiver of this Supplement shall be deemed a
Supplemental Indenture subject to Sections 1001 or 1002 of the Indenture.

Prior to the execution of any written instrument pursuant to this Section, the
Issuer shall provide a written notice to each Rating Agency setting forth in
general terms the substance of any such written instrument.

                                       29

          (b) Promptly after the execution by the Issuer and the Indenture
Trustee of any written instrument pursuant to this Section, the Indenture
Trustee shall mail to the Noteholders, each Rating Agency, the Administrative
Agent, each Hedge Counterparty and the Series Enhancer a copy of the text of
such written instrument. Any failure of the Indenture Trustee to mail such copy,
or any defect therein, shall not, however, in any way impair or affect the
validity of any such written instrument.

          Section 706. Consent to Jurisdiction. ANY LEGAL SUIT, ACTION OR
PROCEEDING AGAINST ANY PARTY HERETO ARISING OUT OF OR RELATING TO THIS
SUPPLEMENT, OR ANY TRANSACTION CONTEMPLATED HEREBY, MAY BE INSTITUTED IN ANY
FEDERAL OR STATE COURT IN THE COUNTY OF NEW YORK, STATE OF NEW YORK AND EACH
PARTY HERETO HEREBY WAIVES ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO
THE LAYING OF VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING, AND, SOLELY FOR THE
PURPOSES OF ENFORCING THIS SUPPLEMENT, EACH PARTY HERETO HEREBY IRREVOCABLY
SUBMITS TO THE JURISDICTION OF ANY SUCH COURT IN ANY SUCH SUIT, ACTION OR
PROCEEDING.

          Section 707. Waiver of Jury Trial. EACH OF THE PARTIES HERETO HEREBY
IRREVOCABLY WAIVES, AS AGAINST THE OTHER PARTIES HERETO, ANY RIGHTS IT MAY HAVE
TO A JURY TRIAL IN RESPECT OF ANY CIVIL ACTION OR PROCEEDING (WHETHER ARISING IN
CONTRACT OR TORT OR OTHERWISE), INCLUDING ANY COUNTERCLAIM, ARISING UNDER OR
RELATING TO THIS SUPPLEMENT OR ANY OTHER SERIES 2006-1 TRANSACTION DOCUMENT,
INCLUDING IN RESPECT OF THE NEGOTIATION, ADMINISTRATION OR ENFORCEMENT HEREOF OR
THEREOF.

          Section 708. No Petition. The Indenture Trustee, on its own behalf,
hereby covenants and agrees, and each Noteholder by its acquisition of a Series
2006-1 Note shall be deemed to covenant and agree, that it will not institute
against the Issuer any bankruptcy, reorganization, arrangement, insolvency or
liquidation proceedings, or other proceedings under any Insolvency Law or any
other federal or state bankruptcy or similar law, at any time other than on a
date which is at least one year and one day after the last date on which any
Series 2006-1 Note is Outstanding. The provisions of this Section 708 shall
survive the repayment of the Notes and any termination of this Supplement.

          Section 709. Third Party Beneficiary. The Series Enhancer is a third
party beneficiary of this Supplement and shall be entitled to rely on all
representations, warranties, covenants and agreements contained herein, and in
the Indenture to the extent related hereto, as if made directly to it and as if
it were a party hereto and shall have full power and authority to enforce the
obligations of the parties hereunder.

                            [Signature page follows.]

                                       30

          IN WITNESS WHEREOF, the Issuer and the Indenture Trustee have caused
this Supplement to be duly executed and delivered all as of the day and year
first above written.

                                        TAL ADVANTAGE I LLC, as Issuer

                                        By: TAL International Container
                                            Corporation, its Manager

                                        By:
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                               ---------------------------------

                                        U.S. BANK NATIONAL ASSOCIATION, not
                                        individually but solely as Indenture
                                        Trustee

                                        By:
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                               ---------------------------------

                                                        SERIES 2006-1 SUPPLEMENT

                                   EXHIBIT A-1

                            FORM OF 144A GLOBAL NOTE

UNLESS THIS SERIES 2006-1 NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF
THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE TRANSFEROR
OF SUCH NOTE (THE "TRANSFEROR") OR ITS AGENT FOR REGISTRATION OF TRANSFER,
EXCHANGE OR PAYMENT, AND ANY SERIES 2006-1 NOTE ISSUED IS REGISTERED IN THE NAME
OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER,
PLEDGE OR THE USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

THIS SERIES 2006-1 NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED (THE "SECURITIES ACT"). THE HOLDER HEREOF, BY PURCHASING THIS
SERIES 2006-1 NOTE, AGREES THAT SUCH SERIES 2006-1 NOTE MAY BE RESOLD, PLEDGED
OR TRANSFERRED ONLY IN ACCORDANCE WITH ANY APPLICABLE STATE SECURITIES LAWS AND
(1) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A UNDER THE SECURITIES
ACT ("RULE 144A"), TO A PERSON THAT THE SELLER REASONABLY BELIEVES IS A
QUALIFIED INSTITUTIONAL BUYER THAT PURCHASES FOR ITS OWN ACCOUNT (OR FOR THE
ACCOUNT OR ACCOUNTS OF A QUALIFIED INSTITUTIONAL BUYER) AND TO WHOM NOTICE IS
GIVEN THAT THE RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON
RULE 144A, OR (2) IN AN OFFSHORE TRANSACTION COMPLYING WITH RULE 903 OR RULE 904
OF REGULATION S UNDER THE SECURITIES ACT OR (3) TO A PERSON (A) THAT IS AN
INSTITUTIONAL "ACCREDITED INVESTOR," WITHIN THE MEANING OF RULE 501(A)(1), (2),
(3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT, IS TAKING DELIVERY OF SUCH
SERIES 2006-1 NOTE IN AN AMOUNT OF AT LEAST $100,000 (OR, IF GREATER, THE U.S.
DOLLAR EQUIVALENT OF 50,000 EUROS) AND DELIVERS A PURCHASER LETTER TO THE
INDENTURE TRUSTEE IN THE FORM ATTACHED TO THE SUPPLEMENTS OR (B) THAT IS TAKING
DELIVERY OF SUCH SERIES 2006-1 NOTE PURSUANT TO A TRANSACTION THAT IS OTHERWISE
EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, AS CONFIRMED IN
AN OPINION OF COUNSEL ADDRESSED TO THE INDENTURE TRUSTEE AND THE ISSUER, WHICH
COUNSEL AND OPINION ARE SATISFACTORY TO THE ISSUER AND THE INDENTURE TRUSTEE.

EACH PURCHASER AND TRANSFEREE OF A SERIES 2006-1 NOTE WILL BE DEEMED TO
REPRESENT AND WARRANT THAT EITHER (I) IT IS NOT ACQUIRING THE SERIES 2006-1 NOTE
WITH THE PLAN ASSETS OF AN "EMPLOYEE BENEFIT PLAN" AS DEFINED IN SECTION 3(3) OF
THE EMPLOYEE

                                      A-1-1

RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED ("ERISA"), WHICH IS SUBJECT
TO THE PROVISIONS OF TITLE I OF ERISA, A "PLAN" DESCRIBED IN SECTION 4975(E)(1)
OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE"), AN ENTITY WHOSE
UNDERLYING ASSETS INCLUDE "PLAN ASSETS" OF ANY OF THE FOREGOING BY REASON OF AN
EMPLOYEE BENEFIT PLAN'S OR PLAN'S INVESTMENT IN SUCH ENTITY, OR ANY OTHER PLAN
THAT IS SUBJECT TO A LAW THAT IS SIMILAR TO TITLE I OF ERISA OR SECTION 4975 OF
THE CODE OR (II) THE ACQUISITION, HOLDING AND DISPOSITION OF THE SERIES 2006-1
NOTE WILL NOT GIVE RISE TO A NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406
OF ERISA, SECTION 4975 OF THE CODE OR ANY SIMILAR APPLICABLE LAW.

THIS SERIES 2006-1 NOTE IS NOT GUARANTEED OR INSURED BY ANY GOVERNMENTAL AGENCY
OR INSTRUMENTALITY.

                                      A-1-2

                 TAL ADVANTAGE I LLC FLOATING RATE SECURED NOTE

$[XX]                                                   CUSIP No.: _____________
                                                                           No. 1
                                                        _____________ ___, 200__

          KNOW ALL PERSONS BY THESE PRESENTS that TAL ADVANTAGE I LLC, a limited
liability company organized under the laws of Delaware (the "Issuer"), for value
received, hereby promises to pay to Cede & Co., or registered assigns, at the
principal corporate trust office of the Indenture Trustee named below, (i) the
principal sum of up to XX.00 Dollars ($XX.00), which sum shall be payable on the
dates and in the amounts set forth in the Amended and Restated Indenture, dated
as of April 12, 2006 (as amended, restated or otherwise modified from time to
time, the "Indenture") and the Series 2006-1 Supplement, dated as of April 12,
2006 (as amended, restated or otherwise modified from time to time, the "Series
2006-1 Supplement"), each between the Issuer and U.S. Bank National Association
as indenture trustee (the "Indenture Trustee"), and (ii) interest on the
outstanding principal amount of this Note on the dates and in the amounts set
forth in the Indenture and the Series 2006-1 Supplement. Capitalized terms not
otherwise defined herein will have the meaning set forth in the Indenture and
the Series 2006-1 Supplement.

          Payment of the principal of and interest on this Note shall be made in
lawful money of the United States of America which at the time of payment is
legal tender for payment of public and private debts. The principal balance of,
and interest on this Note is payable at the times and in the amounts set forth
in the Indenture and the 2006-1 Supplement by wire transfer of immediately
available funds to the account designated by the Holder of record on the
immediately preceding Record Date.

          This Note is one of the authorized notes identified in the title
hereto and issued in the aggregate principal amount of up to Six Hundred Eighty
Million Dollars ($680,000,000.00) pursuant to the Indenture and the Series
2006-1 Supplement.

          The Notes shall be an obligation of the Issuer and shall be secured by
the Collateral, all as defined in, and subject to limitations set forth in, the
Indenture and the Series 2006-1 Supplement.

          This Note is transferable as provided in the Indenture and the Series
2006-1 Supplement, subject to certain limitations therein contained, only upon
the books for registration and transfer kept by the Indenture Trustee, and only
upon surrender of this Note for transfer to the Indenture Trustee duly endorsed
by, or accompanied by a written instrument of transfer in form reasonably
satisfactory to the Indenture Trustee duly executed by, the registered Holder
hereof or his attorney duly authorized in writing. The Indenture Trustee or the
Issuer may require payment by the Holder of a sum sufficient to cover any tax
expense or other governmental charge payable in connection with any transfer or
exchange of the Notes.

          The Issuer, the Indenture Trustee and any other agent of the Issuer
may treat the Person in whose name this Note is registered as the absolute owner
hereof for all purposes, and

                                      A-1-3

neither the Issuer, the Indenture Trustee, nor any other such agent shall be
affected by notice to the contrary.

          The Notes are subject to Prepayment, at the times and subject to the
conditions set forth in the Indenture and the Series 2006-1 Supplement.

          If an Event of Default shall occur and be continuing, the principal of
and accrued interest on this Note may be declared to be due and payable in the
manner and with the effect provided in the Indenture and the Series 2006-1
Supplement.

          The Indenture permits, with certain exceptions as therein provided,
the issuance of supplemental indentures with the consent of the Requisite Global
Majority, in certain specifically described instances. Any consent given by the
Requisite Global Majority shall be conclusive and binding upon the Holder of
this Note and on all future holders of this Note and of any Note issued in lieu
hereof whether or not notation of such consent is made upon this Note.
Supplements and amendments to the Indenture and the Series 2006-1 Supplement may
be made only to the extent and in circumstances permitted by the Indenture and
the Series 2006-1 Supplement.

          The Holder of this Note shall have no right to enforce the provisions
of the Indenture and the Series 2006-1 Supplement or to institute action to
enforce the covenants, or to take any action with respect to a default under the
Indenture and the Series 2006-1 Supplement, or to institute, appear in or defend
any suit or other proceedings with respect thereto, except as provided under
certain circumstances described in the Indenture and the Series 2006-1
Supplement; provided, however, that nothing contained in the Indenture and the
Series 2006-1 Supplement shall affect or impair any right of enforcement
conferred on the Holder hereof to enforce any payment of the principal of and
interest on this Note on or after the due date thereof; provided further,
however, that by acceptance hereof the Holder is deemed to have covenanted and
agreed that it will not institute against the Issuer any bankruptcy,
reorganization, arrangement, insolvency or liquidation proceedings, or other
proceedings under any applicable bankruptcy or similar law, at any time other
than at such time as permitted by Section 1311 of the Indenture and the Series
2006-1 Supplement.

          Each purchaser and transferee of a Series 2006-1 Note will be deemed
to represent and warrant that either (i) it is not acquiring the Series 2006-1
Note with the plan assets of an "employee benefit plan" as defined in Section
3(3) of the Employee Retirement Income Security Act of 1974, as amended
("ERISA"), which is subject to the provisions of Title I of ERISA, a "plan"
described in Section 4975(e)(1) of the Internal Revenue Code of 1986, as amended
(the "Code"), an entity whose underlying assets include "plan assets" of any of
the foregoing by reason of an employee benefit plan's or plan's investment in
such entity, or any other plan that is subject to a law that is similar to Title
I of ERISA or Section 4975 of the Code or (ii) the acquisition, holding and
disposition of the Series 2006-1 Note will not give rise to a non-exempt
prohibited transaction under Section 406 of ERISA, Section 4975 of the Code or
any similar applicable law.

          Each Holder of a Series 2006-1 Note (i) agrees to treat this Series
2006-1 Note for United States federal, state and local income, single business
and franchise tax purposes as

                                      A-1-4

indebtedness, (ii) agrees that the duties of the Administrative Agent are not to
be construed as a replacement Manager, (iii) agrees that the Series 2006-1 Note
shall not have any interest in any Series Account of any other Series or Class
and (iv) ratifies and confirms the terms of the Indenture and the other Series
2006-1 Transaction Documents.

          This Note, and the rights and obligations of the parties hereunder,
shall be governed by, and construed and interpreted in accordance with, the laws
of the State of New York without giving effect to principles of conflict of
laws.

          All terms and provisions of the Indenture and the Series 2006-1
Supplement are herein incorporated by reference as if set forth herein in their
entirety. To the extent any provision of this Note conflicts or is inconsistent
with the provisions of the Indenture or the Series 2006-1 Supplement, the
provisions of the Indenture and/or Series 2006-1 Supplement, as applicable,
shall govern and be controlling.

          IT IS HEREBY CERTIFIED, RECITED AND DECLARED, that all acts,
conditions and things required to exist, happen and be performed precedent to
the execution and delivery of the Indenture and the Series 2006-1 Supplement and
the issuance of this Note and the issue of which it is a part, do exist, have
happened and have been timely performed in regular form and manner as required
by law.

          Unless the certificate of authentication hereon has been executed by
the Indenture Trustee by manual signature of one of its authorized officers,
this Note shall not be entitled to any benefit under the Indenture and the
Series 2006-1 Supplement, or be valid or obligatory for any purpose.

                                      A-1-5

          IN WITNESS WHEREOF, TAL ADVANTAGE I LLC has caused this Note to be
duly executed by its duly authorized representative, on this ____ day of
______________, 200__.

                                        TAL ADVANTAGE I LLC

                                        By: TAL International Container
                                            Corporation, its Manager

                                        By:
                                            ------------------------------------
                                        Its:

          This Note is one of the Notes described in the within-mentioned
Indenture and the Series 2006-1 Supplement.

U.S. BANK NATIONAL ASSOCIATION, as Indenture Trustee

By:
    ------------------------------------

Its:

                                      A-1-6

                                   EXHIBIT A-2

                   FORM OF TEMPORARY REGULATION S GLOBAL NOTE

UNLESS THIS SERIES 2006-1 NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF
THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE TRANSFEROR
OF SUCH NOTE (THE "TRANSFEROR") OR ITS AGENT FOR REGISTRATION OF TRANSFER,
EXCHANGE OR PAYMENT, AND ANY SERIES 2006-1 NOTE ISSUED IS REGISTERED IN THE NAME
OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER,
PLEDGE OR THE USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

THIS SERIES 2006-1 NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED (THE "SECURITIES ACT"). THE HOLDER HEREOF, BY PURCHASING THIS
SERIES 2006-1 NOTE, AGREES THAT SUCH SERIES 2006-1 NOTE MAY BE RESOLD, PLEDGED
OR TRANSFERRED ONLY IN ACCORDANCE WITH ANY APPLICABLE STATE SECURITIES LAWS AND
(1) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A UNDER THE SECURITIES
ACT ("RULE 144A"), TO A PERSON THAT THE SELLER REASONABLY BELIEVES IS A
QUALIFIED INSTITUTIONAL BUYER THAT PURCHASES FOR ITS OWN ACCOUNT (OR FOR THE
ACCOUNT OR ACCOUNTS OF A QUALIFIED INSTITUTIONAL BUYER) AND TO WHOM NOTICE IS
GIVEN THAT THE RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON
RULE 144A, OR (2) IN AN OFFSHORE TRANSACTION COMPLYING WITH RULE 903 OR RULE 904
OF REGULATION S UNDER THE SECURITIES ACT OR (3) TO A PERSON (A) THAT IS AN
INSTITUTIONAL "ACCREDITED INVESTOR," WITHIN THE MEANING OF RULE 501(A)(1), (2),
(3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT, IS TAKING DELIVERY OF SUCH
SERIES 2006-1 NOTE IN AN AMOUNT OF AT LEAST $100,000 (OR, IF GREATER, THE U.S.
DOLLAR EQUIVALENT OF 50,000 EUROS) AND DELIVERS A PURCHASER LETTER TO THE
INDENTURE TRUSTEE IN THE FORM ATTACHED TO THE SUPPLEMENTS OR (B) THAT IS TAKING
DELIVERY OF SUCH SERIES 2006-1 NOTE PURSUANT TO A TRANSACTION THAT IS OTHERWISE
EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, AS CONFIRMED IN
AN OPINION OF COUNSEL ADDRESSED TO THE INDENTURE TRUSTEE AND THE ISSUER, WHICH
COUNSEL AND OPINION ARE SATISFACTORY TO THE ISSUER AND THE INDENTURE TRUSTEE.

EACH PURCHASER AND TRANSFEREE OF A SERIES 2006-1 NOTE WILL BE DEEMED TO
REPRESENT AND WARRANT THAT EITHER (I) IT IS NOT ACQUIRING THE SERIES 2006-1 NOTE
WITH THE PLAN ASSETS OF AN "EMPLOYEE BENEFIT PLAN" AS DEFINED IN SECTION 3(3) OF
THE EMPLOYEE

                                      A-2-1

RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED ("ERISA"), WHICH IS SUBJECT
TO THE PROVISIONS OF TITLE I OF ERISA, A "PLAN" DESCRIBED IN SECTION 4975(E)(1)
OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE"), OR ANY OTHER PLAN
THAT IS SUBJECT TO A LAW THAT IS SIMILAR TO TITLE I OF ERISA OR SECTION 4975 OF
THE CODE OR (II) THE ACQUISITION, HOLDING AND DISPOSITION OF THE SERIES 2006-1
NOTE WILL NOT GIVE RISE TO A NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406
OF ERISA, SECTION 4975 OF THE CODE OR ANY SIMILAR APPLICABLE LAW.

THIS SERIES 2006-1 NOTE IS NOT GUARANTEED OR INSURED BY ANY GOVERNMENTAL AGENCY
OR INSTRUMENTALITY.

          1. EACH INVESTOR DESCRIBED IN SUBCLAUSE 2 ABOVE UNDERSTANDS THAT THE
          SERIES 2006-1 NOTES HAVE NOT AND WILL NOT BE REGISTERED UNDER THE
          SECURITIES ACT, THAT ANY OFFERS, SALES OR DELIVERIES OF THE SERIES
          2006-1 NOTES PURCHASED BY IT IN THE UNITED STATES OR TO U.S. PERSONS
          PRIOR TO THE DATE THAT IS 40 DAYS AFTER THE LATER OF (I) THE
          COMMENCEMENT OF THE DISTRIBUTION OF THE SERIES 2006-1 NOTES AND (II)
          THE CLOSING DATE, MAY CONSTITUTE A VIOLATION OF UNITED STATES LAW, AND
          THAT DISTRIBUTIONS OF PRINCIPAL AND INTEREST WILL BE MADE IN RESPECT
          OF SUCH SERIES 2006-1 NOTES ONLY FOLLOWING THE DELIVERY BY THE HOLDER
          OF A CERTIFICATION OF NON-U.S. BENEFICIAL OWNERSHIP OR THE EXCHANGE OF
          BENEFICIAL INTEREST IN REGULATION S TEMPORARY BOOK-ENTRY NOTES FOR
          BENEFICIAL INTERESTS IN THE RELATED UNRESTRICTED BOOK ENTRY NOTES
          (WHICH IN EACH CASE WILL ITSELF REQUIRE A CERTIFICATION OF NON-U.S.
          BENEFICIAL OWNERSHIP), AT THE TIMES AND IN THE MANNER SET FORTH IN THE
          INDENTURE.

          2. THE REGULATION S TEMPORARY BOOK-ENTRY NOTES REPRESENTING THE SERIES
          2006-1 NOTES SOLD TO EACH INVESTOR DESCRIBED IN SUBCLAUSE 2 ABOVE WILL
          BEAR A LEGEND TO THE FOLLOWING EFFECT, UNLESS THE ISSUER DETERMINES
          OTHERWISE CONSISTENT WITH APPLICABLE LAW:

THIS NOTE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES
SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT") AND, PRIOR TO THE DATE
THAT IS 40 DAYS AFTER THE LATER OF (I) THE COMPLETION OF THE DISTRIBUTION OF THE
SERIES 2006-1 NOTES AND (II) THE CLOSING DATE, MAY NOT BE OFFERED, SOLD, PLEDGED
OR OTHERWISE TRANSFERRED IN THE UNITED STATES OR TO A U.S. PERSON EXCEPT
PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES
ACT.

                                      A-2-2

                 TAL ADVANTAGE I LLC FLOATING RATE SECURED NOTE

$[XX]                                                 CUSIP No.: _______________
                                                                           No. 1
                                                      _______________ ___, 200__

          KNOW ALL PERSONS BY THESE PRESENTS that TAL Advantage I LLC, a limited
liability company organized under the laws of Delaware (the "Issuer"), for value
received, hereby promises to pay to Cede & Co., or registered assigns, at the
principal corporate trust office of the Indenture Trustee named below, (i) the
principal sum of up to XX Dollars ($xx.00), which sum shall be payable on the
dates and in the amounts set forth in the Amended and Restated Indenture, dated
as of April 12, 2006 (as amended, restated or otherwise modified from time to
time, the "Indenture") and the Series 2006-1 Supplement, dated as of April 12,
2006 (as amended, restated or otherwise modified from time to time, the "Series
2006-1 Supplement"), each between the Issuer and U.S. Bank National Association
as indenture trustee (the "Indenture Trustee"), and (ii) interest on the
outstanding principal amount of this Note on the dates and in the amounts set
forth in the Indenture and the Series 2006-1 Supplement. Capitalized terms not
otherwise defined herein will have the meaning set forth in the Indenture and
the Series 2006-1 Supplement.

          Payment of the principal of and interest on this Note shall be made in
lawful money of the United States of America which at the time of payment is
legal tender for payment of public and private debts. The principal balance of,
and interest on this Note is payable at the times and in the amounts set forth
in the Indenture and the 2006-1 Supplement by wire transfer of immediately
available funds to the account designated by the Holder of record on the
immediately preceding Record Date.

          This Note is one of the authorized notes identified in the title
hereto and issued in the aggregate principal amount of up to Six Hundred Eighty
Million Dollars ($680,000,000) pursuant to the Indenture and the Series 2006-1
Supplement.

          The Notes shall be an obligation of the Issuer and shall be secured by
the Collateral, all as defined in, and subject to limitations set forth in, the
Indenture and the Series 2006-1 Supplement.

          This Note is transferable as provided in the Indenture and the Series
2006-1 Supplement, subject to certain limitations therein contained, only upon
the books for registration and transfer kept by the Indenture Trustee, and only
upon surrender of this Note for transfer to the Indenture Trustee duly endorsed
by, or accompanied by a written instrument of transfer in form reasonably
satisfactory to the Indenture Trustee duly executed by, the registered Holder
hereof or his attorney duly authorized in writing. The Indenture Trustee or the
Issuer may require payment by the Holder of a sum sufficient to cover any tax
expense or other governmental charge payable in connection with any transfer or
exchange of the Notes.

          The Issuer, the Indenture Trustee and any other agent of the Issuer
may treat the Person in whose name this Note is registered as the absolute owner
hereof for all purposes, and

                                      A-2-3

neither the Issuer, the Indenture Trustee, nor any other such agent shall be
affected by notice to the contrary.

          The Notes are subject to Prepayment, at the times and subject to the
conditions set forth in the Indenture and the Series 2006-1 Supplement.

          If an Event of Default shall occur and be continuing, the principal of
and accrued interest on this Note may be declared to be due and payable in the
manner and with the effect provided in the Indenture and the Series 2006-1
Supplement.

          The Indenture permits, with certain exceptions as therein provided,
the issuance of supplemental indentures with the consent of the Requisite Global
Majority, in certain specifically described instances. Any consent given by the
Requisite Global Majority shall be conclusive and binding upon the Holder of
this Note and on all future holders of this Note and of any Note issued in lieu
hereof whether or not notation of such consent is made upon this Note.
Supplements and amendments to the Indenture and the Series 2006-1 Supplement may
be made only to the extent and in circumstances permitted by the Indenture and
the Series 2006-1 Supplement.

          The Holder of this Note shall have no right to enforce the provisions
of the Indenture and the Series 2006-1 Supplement or to institute action to
enforce the covenants, or to take any action with respect to a default under the
Indenture and the Series 2006-1 Supplement, or to institute, appear in or defend
any suit or other proceedings with respect thereto, except as provided under
certain circumstances described in the Indenture and the Series 2006-1
Supplement; provided, however, that nothing contained in the Indenture and the
Series 2006-1 Supplement shall affect or impair any right of enforcement
conferred on the Holder hereof to enforce any payment of the principal of and
interest on this Note on or after the due date thereof; provided further,
however, that by acceptance hereof the Holder is deemed to have covenanted and
agreed that it will not institute against the Issuer any bankruptcy,
reorganization, arrangement, insolvency or liquidation proceedings, or other
proceedings under any applicable bankruptcy or similar law, at any time other
than at such time as permitted by Section 1311 of the Indenture and the Series
2006-1 Supplement.

          Each purchaser and transferee of a Series 2006-1 Note will be deemed
to represent and warrant that either (i) it is not acquiring the Series 2006-1
Note with the plan assets of an "employee benefit plan" as defined in Section
3(3) of the Employee Retirement Income Security Act of 1974, as amended
("ERISA"), which is subject to the provisions of Title I of ERISA, a "plan"
described in Section 4975(e)(1) of the Internal Revenue Code of 1986, as amended
(the "Code"), or any other plan that is subject to a law that is similar to
Title I of ERISA or Section 4975 of the Code or (ii) the acquisition, holding
and disposition of the Series 2006-1 Note will not give rise to a non-exempt
prohibited transaction under Section 406 of ERISA, Section 4975 of the Code or
any similar applicable law.

          Each Holder of a Series 2006-1 Note (i) agrees to treat this Series
2006-1 Note for United States federal, state and local income, single business
and franchise tax purposes as indebtedness, (ii) agrees that the duties of the
Administrative Agent are not to be construed as a replacement Manager, (iii)
agrees that the Series 2006-1 Note shall not have any interest in any

                                      A-2-4

Series Account of any other Series or Class and (iv) ratifies and confirms the
terms of the Indenture and the other Series 2006-1 Transaction Documents.

          This Note, and the rights and obligations of the parties hereunder,
shall be governed by, and construed and interpreted in accordance with, the laws
of the State of New York without giving effect to principles of conflict of
laws.

          All terms and provisions of the Indenture and the Series 2006-1
Supplement are herein incorporated by reference as if set forth herein in their
entirety. To the extent any provision of this Note conflicts or is inconsistent
with the provisions of the Indenture or the Series 2006-1 Supplement, the
provisions of the Indenture and/or Series 2006-1 Supplement, as applicable,
shall govern and be controlling.

          IT IS HEREBY CERTIFIED, RECITED AND DECLARED, that all acts,
conditions and things required to exist, happen and be performed precedent to
the execution and delivery of the Indenture and the Series 2006-1 Supplement and
the issuance of this Note and the issue of which it is a part, do exist, have
happened and have been timely performed in regular form and manner as required
by law.

          Unless the certificate of authentication hereon has been executed by
the Indenture Trustee by manual signature of one of its authorized officers,
this Note shall not be entitled to any benefit under the Indenture and the
Series 2006-1 Supplement, or be valid or obligatory for any purpose.

                                      A-2-5

          IN WITNESS WHEREOF, TAL Advantage I LLC has caused this Note to be
duly executed by its duly authorized representative, on this ___ day of
________, 200__.

                                        TAL ADVANTAGE I LLC

                                        By: TAL International Container
                                            Corporation, its Manager

                                        By:
                                            ------------------------------------
                                        Its:

          This Note is one of the Notes described in the within-mentioned
Indenture and the Series 2006-1 Supplement.

U.S. BANK NATIONAL ASSOCIATION, as
Indenture Trustee

By:
    ---------------------------------
Its:

                                      A-2-6

                                   EXHIBIT A-3

                   FORM OF PERMANENT REGULATION S GLOBAL NOTE

UNLESS THIS SERIES 2006-1 NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF
THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE TRANSFEROR
OF SUCH NOTE (THE "TRANSFEROR") OR ITS AGENT FOR REGISTRATION OF TRANSFER,
EXCHANGE OR PAYMENT, AND ANY SERIES 2006-1 NOTE ISSUED IS REGISTERED IN THE NAME
OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER,
PLEDGE OR THE USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

THIS SERIES 2006-1 NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED (THE "SECURITIES ACT"). THE HOLDER HEREOF, BY PURCHASING THIS
SERIES 2006-1 NOTE, AGREES THAT SUCH SERIES 2006-1 NOTE MAY BE RESOLD, PLEDGED
OR TRANSFERRED ONLY IN ACCORDANCE WITH ANY APPLICABLE STATE SECURITIES LAWS AND
(1) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A UNDER THE SECURITIES
ACT ("RULE 144A"), TO A PERSON THAT THE SELLER REASONABLY BELIEVES IS A
QUALIFIED INSTITUTIONAL BUYER THAT PURCHASES FOR ITS OWN ACCOUNT (OR FOR THE
ACCOUNT OR ACCOUNTS OF A QUALIFIED INSTITUTIONAL BUYER) AND TO WHOM NOTICE IS
GIVEN THAT THE RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON
RULE 144A, OR (2) IN AN OFFSHORE TRANSACTION COMPLYING WITH RULE 903 OR RULE 904
OF REGULATION S UNDER THE SECURITIES ACT OR (3) TO A PERSON (A) THAT IS AN
INSTITUTIONAL "ACCREDITED INVESTOR," WITHIN THE MEANING OF RULE 501(A)(1), (2),
(3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT, IS TAKING DELIVERY OF SUCH
SERIES 2006-1 NOTE IN AN AMOUNT OF AT LEAST $100,000 (OR, IF GREATER, THE U.S.
DOLLAR EQUIVALENT OF 50,000 EUROS) AND DELIVERS A PURCHASER LETTER TO THE
INDENTURE TRUSTEE IN THE FORM ATTACHED TO THE SUPPLEMENTS OR (B) THAT IS TAKING
DELIVERY OF SUCH SERIES 2006-1 NOTE PURSUANT TO A TRANSACTION THAT IS OTHERWISE
EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, AS CONFIRMED IN
AN OPINION OF COUNSEL ADDRESSED TO THE INDENTURE TRUSTEE AND THE ISSUER, WHICH
COUNSEL AND OPINION ARE SATISFACTORY TO THE ISSUER AND THE INDENTURE TRUSTEE.

EACH PURCHASER AND TRANSFEREE OF A SERIES 2006-1 NOTE WILL BE DEEMED TO
REPRESENT AND WARRANT THAT EITHER (I) IT IS NOT ACQUIRING THE SERIES 2006-1 NOTE
WITH THE PLAN ASSETS OF AN "EMPLOYEE BENEFIT PLAN" AS DEFINED IN SECTION 3(3) OF
THE EMPLOYEE

                                      A-3-1

RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED ("ERISA"), WHICH IS SUBJECT
TO THE PROVISIONS OF TITLE I OF ERISA, A "PLAN" DESCRIBED IN SECTION 4975(E)(1)
OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE"), OR ANY OTHER PLAN
THAT IS SUBJECT TO A LAW THAT IS SIMILAR TO TITLE I OF ERISA OR SECTION 4975 OF
THE CODE OR (II) THE ACQUISITION, HOLDING AND DISPOSITION OF THE SERIES 2006-1
NOTE WILL NOT GIVE RISE TO A NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406
OF ERISA, SECTION 4975 OF THE CODE OR ANY SIMILAR APPLICABLE LAW.

THIS SERIES 2006-1 NOTE IS NOT GUARANTEED OR INSURED BY ANY GOVERNMENTAL AGENCY
OR INSTRUMENTALITY.

                                      A-3-2

                 TAL ADVANTAGE I LLC FLOATING RATE SECURED NOTE

$[XX]                                                 CUSIP No.: _______________
                                                                           No. 1
                                                      _______________ ___, 200__

          KNOW ALL PERSONS BY THESE PRESENTS that TAL Advantage I LLC, a limited
liability company organized under the laws of Delaware (the "Issuer"), for value
received, hereby promises to pay to Cede & Co., or registered assigns, at the
principal corporate trust office of the Indenture Trustee named below, (i) the
principal sum of up to XX Dollars ($xx.00), which sum shall be payable on the
dates and in the amounts set forth in the Amended and Restated Indenture, dated
as of April 12, 2006 (as amended, restated or otherwise modified from time to
time, the "Indenture") and the Series 2006-1 Supplement, dated as of April 12,
2006 (as amended, restated or otherwise modified from time to time, the "Series
2006-1 Supplement"), each between the Issuer and U.S. Bank National Association
as indenture trustee (the "Indenture Trustee"), and (ii) interest on the
outstanding principal amount of this Note on the dates and in the amounts set
forth in the Indenture and the Series 2006-1 Supplement. Capitalized terms not
otherwise defined herein will have the meaning set forth in the Indenture and
the Series 2006-1 Supplement.

          Payment of the principal of and interest on this Note shall be made in
lawful money of the United States of America which at the time of payment is
legal tender for payment of public and private debts. The principal balance of,
and interest on this Note is payable at the times and in the amounts set forth
in the Indenture and the 2006-1 Supplement by wire transfer of immediately
available funds to the account designated by the Holder of record on the
immediately preceding Record Date.

          This Note is one of the authorized notes identified in the title
hereto and issued in the aggregate principal amount of up to Six Hundred Eighty
Million Dollars ($680,000,000) pursuant to the Indenture and the Series 2006-1
Supplement.

          The Notes shall be an obligation of the Issuer and shall be secured by
the Collateral, all as defined in, and subject to limitations set forth in, the
Indenture and the Series 2006-1 Supplement.

          This Note is transferable as provided in the Indenture and the Series
2006-1 Supplement, subject to certain limitations therein contained, only upon
the books for registration and transfer kept by the Indenture Trustee, and only
upon surrender of this Note for transfer to the Indenture Trustee duly endorsed
by, or accompanied by a written instrument of transfer in form reasonably
satisfactory to the Indenture Trustee duly executed by, the registered Holder
hereof or his attorney duly authorized in writing. The Indenture Trustee or the
Issuer may require payment by the Holder of a sum sufficient to cover any tax
expense or other governmental charge payable in connection with any transfer or
exchange of the Notes.

          The Issuer, the Indenture Trustee and any other agent of the Issuer
may treat the Person in whose name this Note is registered as the absolute owner
hereof for all purposes, and

                                      A-3-3

neither the Issuer, the Indenture Trustee, nor any other such agent shall be
affected by notice to the contrary.

          The Notes are subject to Prepayment, at the times and subject to the
conditions set forth in the Indenture and the Series 2006-1 Supplement.

          If an Event of Default shall occur and be continuing, the principal of
and accrued interest on this Note may be declared to be due and payable in the
manner and with the effect provided in the Indenture and the Series 2006-1
Supplement.

          The Indenture permits, with certain exceptions as therein provided,
the issuance of supplemental indentures with the consent of the Requisite Global
Majority, in certain specifically described instances. Any consent given by the
Requisite Global Majority shall be conclusive and binding upon the Holder of
this Note and on all future holders of this Note and of any Note issued in lieu
hereof whether or not notation of such consent is made upon this Note.
Supplements and amendments to the Indenture and the Series 2006-1 Supplement may
be made only to the extent and in circumstances permitted by the Indenture and
the Series 2006-1 Supplement.

          The Holder of this Note shall have no right to enforce the provisions
of the Indenture and the Series 2006-1 Supplement or to institute action to
enforce the covenants, or to take any action with respect to a default under the
Indenture and the Series 2006-1 Supplement, or to institute, appear in or defend
any suit or other proceedings with respect thereto, except as provided under
certain circumstances described in the Indenture and the Series 2006-1
Supplement; provided, however, that nothing contained in the Indenture and the
Series 2006-1 Supplement shall affect or impair any right of enforcement
conferred on the Holder hereof to enforce any payment of the principal of and
interest on this Note on or after the due date thereof; provided further,
however, that by acceptance hereof the Holder is deemed to have covenanted and
agreed that it will not institute against the Issuer any bankruptcy,
reorganization, arrangement, insolvency or liquidation proceedings, or other
proceedings under any applicable bankruptcy or similar law, at any time other
than at such time as permitted by Section 1311 of the Indenture and the Series
2006-1 Supplement.

          Each purchaser and transferee of a Series 2006-1 Note will be deemed
to represent and warrant that either (i) it is not acquiring the Series 2006-1
Note with the plan assets of an "employee benefit plan" as defined in Section
3(3) of the Employee Retirement Income Security Act of 1974, as amended
("ERISA"), which is subject to the provisions of Title I of ERISA, a "plan"
described in Section 4975(e)(1) of the Internal Revenue Code of 1986, as amended
(the "Code"), or any other plan that is subject to a law that is similar to
Title I of ERISA or Section 4975 of the Code or (ii) the acquisition, holding
and disposition of the Series 2006-1 Note will not give rise to a non-exempt
prohibited transaction under Section 406 of ERISA, Section 4975 of the Code or
any similar applicable law.

          Each Holder of a Series 2006-1 Note (i) agrees to treat this Series
2006-1 Note for United States federal, state and local income, single business
and franchise tax purposes as indebtedness, (ii) agrees that the duties of the
Administrative Agent are not to be construed as a replacement Manager, (iii)
agrees that the Series 2006-1 Note shall not have any interest in any

                                      A-3-4

Series Account of any other Series or Class and (iv) ratifies and confirms the
terms of the Indenture and the other Series 2006-1 Transaction Documents.

          This Note, and the rights and obligations of the parties hereunder,
shall be governed by, and construed and interpreted in accordance with, the laws
of the State of New York without giving effect to principles of conflict of
laws.

          All terms and provisions of the Indenture and the Series 2006-1
Supplement are herein incorporated by reference as if set forth herein in their
entirety. To the extent any provision of this Note conflicts or is inconsistent
with the provisions of the Indenture or the Series 2006-1 Supplement, the
provisions of the Indenture and/or Series 2006-1 Supplement, as applicable,
shall govern and be controlling.

          IT IS HEREBY CERTIFIED, RECITED AND DECLARED, that all acts,
conditions and things required to exist, happen and be performed precedent to
the execution and delivery of the Indenture and the Series 2006-1 Supplement and
the issuance of this Note and the issue of which it is a part, do exist, have
happened and have been timely performed in regular form and manner as required
by law.

          Unless the certificate of authentication hereon has been executed by
the Indenture Trustee by manual signature of one of its authorized officers,
this Note shall not be entitled to any benefit under the Indenture and the
Series 2006-1 Supplement, or be valid or obligatory for any purpose.

                                      A-3-5

          IN WITNESS WHEREOF, TAL Advantage I LLC has caused this Note to be
duly executed by its duly authorized representative, on this __ day of
__________, 200_.

                                        TAL ADVANTAGE I LLC

                                        By: TAL International Container
                                            Corporation, its Manager

                                        By:
                                            ------------------------------------
                                        Its:

          This Note is one of the Notes described in the within-mentioned
Indenture and the Series 2006-1 Supplement.

U.S. BANK NATIONAL ASSOCIATION, as
Indenture Trustee

By:
    ---------------------------------
Its:

                                      A-3-6

                                   EXHIBIT A-4

            FORM OF NOTE ISSUED TO INSTITUTIONAL ACCREDITED INVESTORS

THIS SERIES 2006-1 NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED (THE "SECURITIES ACT"). THE HOLDER HEREOF, BY PURCHASING THIS
SERIES 2006-1 NOTE, AGREES THAT SUCH SERIES 2006-1 NOTE MAY BE RESOLD, PLEDGED
OR TRANSFERRED ONLY IN ACCORDANCE WITH ANY APPLICABLE STATE SECURITIES LAWS AND
(1) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A UNDER THE SECURITIES
ACT ("RULE 144A"), TO A PERSON THAT THE SELLER REASONABLY BELIEVES IS A
QUALIFIED INSTITUTIONAL BUYER THAT PURCHASES FOR ITS OWN ACCOUNT (OR FOR THE
ACCOUNT OR ACCOUNTS OF A QUALIFIED INSTITUTIONAL BUYER) AND TO WHOM NOTICE IS
GIVEN THAT THE RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON
RULE 144A, OR (2) IN AN OFFSHORE TRANSACTION COMPLYING WITH RULE 903 OR RULE 904
OF REGULATION S UNDER THE SECURITIES ACT OR (3) TO A PERSON (A) THAT IS AN
INSTITUTIONAL "ACCREDITED INVESTOR," WITHIN THE MEANING OF RULE 501(A)(1), (2),
(3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT, IS TAKING DELIVERY OF SUCH
SERIES 2006-1 NOTE IN AN AMOUNT OF AT LEAST $100,000 (OR, IF GREATER, THE U.S.
DOLLAR EQUIVALENT OF 50,000 EUROS) AND DELIVERS A PURCHASER LETTER TO THE
INDENTURE TRUSTEE IN THE FORM ATTACHED TO THE SUPPLEMENTS OR (B) THAT IS TAKING
DELIVERY OF SUCH SERIES 2006-1 NOTE PURSUANT TO A TRANSACTION THAT IS OTHERWISE
EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, AS CONFIRMED IN
AN OPINION OF COUNSEL ADDRESSED TO THE INDENTURE TRUSTEE AND THE ISSUER, WHICH
COUNSEL AND OPINION ARE SATISFACTORY TO THE ISSUER AND THE INDENTURE TRUSTEE.

EACH PURCHASER AND TRANSFEREE OF A SERIES 2006-1 NOTE WILL BE DEEMED TO
REPRESENT AND WARRANT THAT EITHER (I) IT IS NOT ACQUIRING THE SERIES 2006-1 NOTE
WITH THE PLAN ASSETS OF AN "EMPLOYEE BENEFIT PLAN" AS DEFINED IN SECTION 3(3) OF
THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED ("ERISA"), WHICH
IS SUBJECT TO THE PROVISIONS OF TITLE I OF ERISA, A "PLAN" DESCRIBED IN SECTION
4975(E)(1) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE"), OR ANY
OTHER PLAN THAT IS SUBJECT TO A LAW THAT IS SIMILAR TO TITLE I OF ERISA OR
SECTION 4975 OF THE CODE OR (II) THE ACQUISITION, HOLDING AND DISPOSITION OF THE
SERIES 2006-1 NOTE WILL NOT GIVE RISE TO A NON-EXEMPT PROHIBITED TRANSACTION
UNDER SECTION 406 OF ERISA, SECTION 4975 OF THE CODE OR ANY SIMILAR APPLICABLE
LAW.

THIS SERIES 2006-1 NOTE IS NOT GUARANTEED OR INSURED BY ANY GOVERNMENTAL AGENCY
OR INSTRUMENTALITY.

                                      A-4-1

                 TAL ADVANTAGE I LLC FLOATING RATE SECURED NOTE

$[XX]                                                  CUSIP No.: ______________
                                                                           No. 1
                                                        _____________ ___, 200__

          KNOW ALL PERSONS BY THESE PRESENTS that TAL Advantage I LLC, a limited
liability company organized under the laws of Delaware (the "Issuer"), for value
received, hereby promises to pay to _______, or registered assigns, at the
principal corporate trust office of the Indenture Trustee named below, (i) the
principal sum of up to XX Dollars ($XX), which sum shall be payable on the dates
and in the amounts set forth in the Amended and Restated Indenture, dated as of
April 12, 2006 (as amended, restated or otherwise modified from time to time,
the "Indenture") and the Series 2006-1 Supplement, dated as of April 12, 2006
(as amended, restated or otherwise modified from time to time, the "Series
2006-1 Supplement"), each between the Issuer and U.S. Bank National Association
as indenture trustee (the "Indenture Trustee"), and (ii) interest on the
outstanding principal amount of this Note on the dates and in the amounts set
forth in the Indenture and the Series 2006-1 Supplement. Capitalized terms not
otherwise defined herein will have the meaning set forth in the Indenture and
the Series 2006-1 Supplement.

          Payment of the principal of and interest on this Note shall be made in
lawful money of the United States of America which at the time of payment is
legal tender for payment of public and private debts. The principal balance of,
and interest on this Note is payable at the times and in the amounts set forth
in the Indenture and the 2006-1 Supplement by wire transfer of immediately
available funds to the account designated by the Holder of record on the
immediately preceding Record Date.

          This Note is one of the authorized notes identified in the title
hereto and issued in the aggregate principal amount of up to Six Hundred Eighty
Million Dollars ($680,000,000) pursuant to the Indenture and the Series 2006-1
Supplement.

          The Notes shall be an obligation of the Issuer and shall be secured by
the Collateral, all as defined in, and subject to limitations set forth in, the
Indenture and the Series 2006-1 Supplement.

          This Note is transferable as provided in the Indenture and the Series
2006-1 Supplement, subject to certain limitations therein contained, only upon
the books for registration and transfer kept by the Indenture Trustee, and only
upon surrender of this Note for transfer to the Indenture Trustee duly endorsed
by, or accompanied by a written instrument of transfer in form reasonably
satisfactory to the Indenture Trustee duly executed by, the registered Holder
hereof or his attorney duly authorized in writing. The Indenture Trustee or the
Issuer may require payment by the Holder of a sum sufficient to cover any tax
expense or other governmental charge payable in connection with any transfer or
exchange of the Notes.

          The Issuer, the Indenture Trustee and any other agent of the Issuer
may treat the Person in whose name this Note is registered as the absolute owner
hereof for all purposes, and

                                      A-4-2

neither the Issuer, the Indenture Trustee, nor any other such agent shall be
affected by notice to the contrary.

          The Notes are subject to Prepayment, at the times and subject to the
conditions set forth in the Indenture and the Series 2006-1 Supplement.

          If an Event of Default shall occur and be continuing, the principal of
and accrued interest on this Note may be declared to be due and payable in the
manner and with the effect provided in the Indenture and the Series 2006-1
Supplement.

          The Indenture permits, with certain exceptions as therein provided,
the issuance of supplemental indentures with the consent of the Requisite Global
Majority, in certain specifically described instances. Any consent given by the
Requisite Global Majority shall be conclusive and binding upon the Holder of
this Note and on all future holders of this Note and of any Note issued in lieu
hereof whether or not notation of such consent is made upon this Note.
Supplements and amendments to the Indenture and the Series 2006-1 Supplement may
be made only to the extent and in circumstances permitted by the Indenture and
the Series 2006-1 Supplement.

          The Holder of this Note shall have no right to enforce the provisions
of the Indenture and the Series 2006-1 Supplement or to institute action to
enforce the covenants, or to take any action with respect to a default under the
Indenture and the Series 2006-1 Supplement, or to institute, appear in or defend
any suit or other proceedings with respect thereto, except as provided under
certain circumstances described in the Indenture and the Series 2006-1
Supplement; provided, however, that nothing contained in the Indenture and the
Series 2006-1 Supplement shall affect or impair any right of enforcement
conferred on the Holder hereof to enforce any payment of the principal of and
interest on this Note on or after the due date thereof; provided further,
however, that by acceptance hereof the Holder is deemed to have covenanted and
agreed that it will not institute against the Issuer any bankruptcy,
reorganization, arrangement, insolvency or liquidation proceedings, or other
proceedings under any applicable bankruptcy or similar law, at any time other
than at such time as permitted by Section 1311 of the Indenture and the Series
2006-1 Supplement.

          Each purchaser and transferee of a Series 2006-1 Note will be deemed
to represent and warrant that either (i) it is not acquiring the Series 2006-1
Note with the plan assets of an "employee benefit plan" as defined in Section
3(3) of the Employee Retirement Income Security Act of 1974, as amended
("ERISA"), which is subject to the provisions of Title I of ERISA, a "plan"
described in Section 4975(e)(1) of the Internal Revenue Code of 1986, as amended
(the "Code"), or any other plan that is subject to a law that is similar to
Title I of ERISA or Section 4975 of the Code or (ii) the acquisition, holding
and disposition of the Series 2006-1 Note will not give rise to a non-exempt
prohibited transaction under Section 406 of ERISA, Section 4975 of the Code or
any similar applicable law.

          Each Holder of a Series 2006-1 Note (i) agrees to treat this Series
2006-1 Note for United States federal, state and local income, single business
and franchise tax purposes as indebtedness, (ii) agrees that the duties of the
Administrative Agent are not to be construed as a replacement Manager, (iii)
agrees that the Series 2006-1 Note shall not have any interest in any

                                      A-4-3

Series Account of any other Series or Class and (iv) ratifies and confirms the
terms of the Indenture and the other Series 2006-1 Transaction Documents.

          This Note, and the rights and obligations of the parties hereunder,
shall be governed by, and construed and interpreted in accordance with, the laws
of the State of New York without giving effect to principles of conflict of
laws.

          All terms and provisions of the Indenture and the Series 2006-1
Supplement are herein incorporated by reference as if set forth herein in their
entirety. To the extent any provision of this Note conflicts or is inconsistent
with the provisions of the Indenture or the Series 2006-1 Supplement, the
provisions of the Indenture and/or Series 2006-1 Supplement, as applicable,
shall govern and be controlling.

          IT IS HEREBY CERTIFIED, RECITED AND DECLARED, that all acts,
conditions and things required to exist, happen and be performed precedent to
the execution and delivery of the Indenture and the Series 2006-1 Supplement and
the issuance of this Note and the issue of which it is a part, do exist, have
happened and have been timely performed in regular form and manner as required
by law.

          Unless the certificate of authentication hereon has been executed by
the Indenture Trustee by manual signature of one of its authorized officers,
this Note shall not be entitled to any benefit under the Indenture and the
Series 2006-1 Supplement, or be valid or obligatory for any purpose.

                                      A-4-4

          IN WITNESS WHEREOF, TAL Advantage I LLC has caused this Note to be
duly executed by its duly authorized representative, on this __ day of
__________ __, 200_.

                                        TAL ADVANTAGE I LLC

                                        By: TAL International Container
                                            Corporation, its Manager

                                        By:
                                           -------------------------------------
                                        Its:

          This Note is one of the Notes described in the within-mentioned
Indenture and the Series 2006-1 Supplement.

U.S. BANK NATIONAL ASSOCIATION, as Indenture Trustee

By:
   ----------------------------------
Its:

                                      A-4-5

                                    EXHIBIT B

                                     FORM OF
                     CERTIFICATE TO BE GIVEN BY NOTEHOLDERS

[Euroclear Bank S.A./N.V., as operator
of the Euroclear System
1 Boulevard du Roi Albert II
B-1210 Brussels, Belgium]
[Clearstream Banking, societe anonyme
f/k/a CedelBank, societe anonyme
67 Boulevard Grand-Duchesse Charlotte
L-1331 Luxembourg]

Re:  Floating Rate Secured Notes (the "Offered Notes") issued pursuant to the
     Series 2006-1 Supplement, dated as of April 12, 2006, between TAL Advantage
     I LLC (the "Issuer") and U.S. Bank National Association (the "Indenture
     Trustee") to the Amended and Restated Indenture, dated as of April 12,
     2006, between the Issuer and the Indenture Trustee.

     This is to certify that as of the date hereof, and except as set forth
below, the beneficial interest in the Offered Notes held by you for our account
is owned by persons that are not U.S. persons (as defined in Rule 902 under the
Securities Act of 1933, as amended).

     The undersigned undertakes to advise you promptly by facsimile on or prior
to the date on which you intend to submit your certification relating to the
Offered Notes held by you in which the undersigned has acquired, or intends to
acquire, a beneficial interest in accordance with your operating procedures if
any applicable statement herein is not correct on such date. In the absence of
any such notification, it may be assumed that this certification applies as of
such date.

     [This certification excepts beneficial interests in and does not relate to
U.S. $_________ principal amount of the Offered Notes appearing in your books as
being held for our account but that we have sold or as to which we are not yet
able to certify.]

     We understand that this certification is required in connection with
certain securities laws in the United States of America. If administrative or
legal proceedings are commenced or threatened in connection with which this
certification is or would be relevant, we irrevocably authorize you to produce
this certification or a copy thereof to any interested party in such
proceedings.

Dated:*                                 By:
        ------------                        -----------------------------------,
                                        Account Holder

*Certification must be dated on or after the 15th day before the date of the
Euroclear or Clearstream certificate to which this certification relates.

                                       B-1

                                    EXHIBIT C

                                     FORM OF
               CERTIFICATE TO BE GIVEN BY EUROCLEAR OR CLEARSTREAM

U.S. Bank National Association,
as Indenture Trustee and Note Registrar
60 Livingston Avenue
St. Paul, Minnesota 55107
Mail Code EP-MN-WS3D

Re:  Floating Rate Secured Notes (the "Offered Notes") issued pursuant to the
     Series 2006-1 Supplement, dated as of April 12, 2006, between TAL Advantage
     I LLC (the "Issuer") and U.S. Bank National Association (the "Indenture
     Trustee") to the Amended and Restated Indenture, dated as of April 12,
     2006, between the Issuer and the Indenture Trustee.

     This is to certify that, based solely on certifications we have received in
writing, by facsimile or by electronic transmission from member organizations
appearing in our records as persons being entitled to a portion of the principal
amount set forth below (our "Member Organizations") as of the date hereof,
$__________ principal amount of the Offered Notes is owned by persons (a) that
are not U.S. persons (as defined in Rule 902 under the Securities Act of 1933,
as amended (the "Securities Act")) or (b) who purchased their Offered Notes (or
interests therein) in a transaction or transactions that did not require
registration under the Securities Act.

     We further certify (a) that we are not making available herewith for
exchange any portion of the related Temporary Regulation S Book-Entry Note
excepted in such certifications and (b) that as of the date hereof we have not
received any notification from any of our Member Organizations to the effect
that the statements made by them with respect to any portion of the part
submitted herewith for exchange are no longer true and cannot be relied upon as
of the date hereof.

     We understand that this certification is required in connection with
certain securities laws of the United States of America. If administrative or
legal proceedings are commenced or threatened in connection with which this
certification is or would be relevant, we irrevocably authorize you to produce
this certification or a copy hereof to any interested party in such proceedings.

Date:                                   Yours faithfully,
      ------------

                                        By:
                                            ------------------------------------
                                        [Euroclear Bank S.A./N.V., as operator
                                        of the  Euroclear System] [Clearstream,
                                        societe anonyme]

                                       C-1

                                    EXHIBIT D

                                     FORM OF
        CERTIFICATE TO BE GIVEN BY TRANSFEREE OF BENEFICIAL INTEREST IN A
                       TEMPORARY REGULATION S GLOBAL NOTE

[Euroclear Bank S.A./N.V., as operator
of the Euroclear System
1 Boulevard du Roi Albert II
B-1210 Brussels, Belgium]
[Clearstream Banking, societe anonyme
f/k/a CedelBank, societe anonyme
67 Boulevard Grand-Duchesse Charlotte
L-1331 Luxembourg]

Re:  Floating Rate Secured Notes (the "Offered Notes") issued pursuant to the
     Series 2006-1 Supplement, dated as of April 12, 2006, between TAL Advantage
     I LLC (the "Issuer") and U.S. Bank National Association (the "Indenture
     Trustee") to the Amended and Restated Indenture, dated as of April 12,
     2006, between the Issuer and the Indenture Trustee.

     This is to certify that as of the date hereof, and except as set forth
below, for purposes of acquiring a beneficial interest in the Offered Notes, the
undersigned certifies that it is not a U.S. person (as defined in Rule 902 under
the Securities Act of 1933, as amended).

     The undersigned undertakes to advise you promptly by facsimile on or prior
to the date on which you intend to submit your certification relating to the
Offered Notes held by you in which the undersigned intends to acquire a
beneficial interest in accordance with your operating procedures if any
applicable statement herein is not correct on such date. In the absence of any
such notification, it may be assumed that this certification applies as of such
date.

     We understand that this certification is required in connection with
certain securities laws in the United States of America. If administrative or
legal proceedings are commenced or threatened in connection with which this
certification is or would be relevant, we irrevocably authorize you to produce
this certification or a copy thereof to any interested party in such
proceedings.

Dated:                                  By:
      ------------                          ------------------------------------

                                       D-1

                                    EXHIBIT E

                                     FORM OF
                      TRANSFER CERTIFICATE FOR EXCHANGE OR
                             TRANSFER FROM 144A NOTE
                              TO REGULATION S NOTE

U.S. Bank National Association,
as Indenture Trustee and Note Registrar
60 Livingston Avenue
St. Paul, Minnesota 55107
Mail Code EP-MN-WS3D

Re:  Floating Rate Secured Notes (the "Offered Notes") issued pursuant to the
     Series 2006-1 Supplement, dated as of April 12, 2006, between TAL Advantage
     I LLC (the "Issuer") and U.S. Bank National Association (the "Indenture
     Trustee") to the Amended and Restated Indenture, dated as of April 12, 2006
     (as amended or supplemented, the "Indenture"), between the Issuer and the
     Indenture Trustee.

          Capitalized terms used but not defined herein shall have the meanings
given to them in the Indenture.

          This letter relates to U.S. $___________ principal amount of Offered
Notes that are held as a beneficial interest in the 144A Book-Entry Note (CUSIP
No. _______) with DTC in the name of [insert name of transferor] (the
"Transferor"). The Transferor has requested an exchange or transfer of the
beneficial interest for an interest in the Regulation S Book-Entry Note (CUSIP
No. _______) to be held with [Euroclear] [Clearstream] through DTC.

          In connection with the request and in receipt of the Offered Notes,
the Transferor does hereby certify that the exchange or transfer has been
effected in accordance with the transfer restrictions set forth in the Indenture
and the Offered Notes and:

(a) pursuant to and in accordance with Regulation S under the Securities Act of
1933, as amended (the "Securities Act"), and accordingly the Transferor does
hereby certify that:

     (i) the offer of the Offered Notes was not made to a person in the United
States of America,

     (ii) either (A) at the time the buy order was originated, the transferee
was outside the United States of America or the Transferor and any person acting
on its behalf reasonably believed that the transferee was outside the United
States of America, or (B) the transaction was executed in, on or through the
facilities of a designated offshore securities market and neither the Transferor
nor any person acting on its behalf knows that the transaction was pre-arranged
with a buyer in the United States of America,

                                       E-1

     (iii) no directed selling efforts have been made in contravention of the
requirements of Rule 903 or 904 of Regulation S, as applicable, and the other
conditions of Rule 903 or Rule 904 of Regulation S, as applicable, have been
satisfied and

     (iv) the transaction is not part of a plan or scheme to evade the
registration requirements of the Securities Act, and

(b) with respect to transfers made in reliance on Rule 144A under the Securities
Act, the Transferor does hereby certify that the Notes are being transferred in
a transaction permitted by Rule 144A under the Securities Act.

          This certification and the statements contained herein are made for
your benefit and the benefit of the Issuer, and Fortis Securities LLC and Credit
Suisse Securities (USA) LLC, the Initial Purchasers.

                           [Insert name of Transferor]

Dated:                                  By:
       ------------                         ------------------------------------

Title:
       ------------------------------

                                       E-2

                                    EXHIBIT F

                                     FORM OF
                     INITIAL PURCHASER EXCHANGE INSTRUCTIONS

Depository Trust Company
55 Water Street, 50th Floor
New York, New York 10041

Re:  Floating Rate Secured Notes (the "Offered Notes") issued pursuant to the
     Series 2006-1 Supplement, dated as of April 12, 2006, between TAL Advantage
     I LLC (the "Issuer") and U.S. Bank National Association (the "Indenture
     Trustee") to the Amended and Restated Indenture, dated as of April 12,
     2006, between the Issuer and the Indenture Trustee.

          Pursuant to Section 206(b)(ii) of the Series 2006-1 Supplement, Fortis
Securities LLC and Credit Suisse Securities (USA) LLC (the "Initial Purchasers")
hereby request that $____________ aggregate principal amount of the Offered
Notes held by you for our account and represented by the Temporary Regulation S
Book-Entry Note (CUSIP No. ________) (as defined in the Series 2006-1
Supplement) be exchanged for an equal principal amount represented by the 144A
Book-Entry Note (CUSIP No. _________) to be held by you for our account.

Dated:
       ------------

FORTIS SECURITIES LLC
as Initial Purchaser

By:
    ------------------------------------
Title:
       ---------------------------------

By:
    ------------------------------------
Title:
       ---------------------------------

CREDIT SUISSE SECURITIES (USA) LLC
as Initial Purchaser

By:
    ------------------------------------
Title:
       ---------------------------------

                                       F-1

                                   SCHEDULE 1

                           TARGETED PRINCIPAL BALANCES

                         Minimum Targeted   Scheduled Targeted
Period       Date       Principal Balance    Principal Balance
------   ------------   -----------------   ------------------
   0     Closing Date      $680,000,000        $680,000,000
   1        May-06         $676,222,222        $674,333,333
   2        June-06        $672,444,444        $668,666,667
   3        July-06        $668,666,667        $663,000,000
   4       August-06       $664,888,889        $657,333,333
   5     September-06      $661,111,111        $651,666,667
   6      October-06       $657,333,333        $646,000,000
   7      November-06      $653,555,556        $640,333,333
   8      December-06      $649,777,778        $634,666,667
   9      January-07       $646,000,000        $629,000,000
  10      February-07      $642,222,222        $623,333,333
  11       March-07        $638,444,444        $617,666,667
  12       April-07        $634,666,667        $612,000,000
  13        May-07         $630,888,889        $606,333,333
  14        June-07        $627,111,111        $600,666,667
  15        July-07        $623,333,333        $595,000,000
  16       August-07       $619,555,556        $589,333,333
  17     September-07      $615,777,778        $583,666,667
  18      October-07       $612,000,000        $578,000,000
  19      November-07      $608,222,222        $572,333,333
  20      December-07      $604,444,444        $566,666,667
  21      January-08       $600,666,667        $561,000,000
  22      February-08      $596,888,889        $555,333,333
  23       March-08        $593,111,111        $549,666,667
  24       April-08        $589,333,333        $544,000,000

                           TARGETED PRINCIPAL BALANCES

                         Minimum Targeted   Scheduled Targeted
Period       Date       Principal Balance    Principal Balance
------   ------------   -----------------   ------------------
  25        May-08         $585,555,556        $538,333,333
  26        June-08        $581,777,778        $532,666,667
  27        July-08        $578,000,000        $527,000,000
  28       August-08       $574,222,222        $521,333,333
  29     September-08      $570,444,444        $515,666,667
  30      October-08       $566,666,667        $510,000,000
  31      November-08      $562,888,889        $504,333,333
  32      December-08      $559,111,111        $498,666,667
  33      January-09       $555,333,333        $493,000,000
  34      February-09      $551,555,556        $487,333,333
  35       March-09        $547,777,778        $481,666,667
  36       April-09        $544,000,000        $476,000,000
  37        May-09         $540,222,222        $470,333,333
  38        June-09        $536,444,444        $464,666,667
  39        July-09        $532,666,667        $459,000,000
  40       August-09       $528,888,889        $453,333,333
  41     September-09      $525,111,111        $447,666,667
  42      October-09       $521,333,333        $442,000,000
  43      November-09      $517,555,556        $436,333,333
  44      December-09      $513,777,778        $430,666,667
  45      January-10       $510,000,000        $425,000,000
  46      February-10      $506,222,222        $419,333,333
  47       March-10        $502,444,444        $413,666,667
  48       April-10        $498,666,667        $408,000,000
  49        May-10         $494,888,889        $402,333,333
  50       June-10         $491,111,111        $396,666,667

                           TARGETED PRINCIPAL BALANCES

                         Minimum Targeted   Scheduled Targeted
Period       Date       Principal Balance    Principal Balance
------   ------------   -----------------   ------------------
  51        July-10        $487,333,333        $391,000,000
  52       August-10       $483,555,556        $385,333,333
  53     September-10      $479,777,778        $379,666,667
  54      October-10       $476,000,000        $374,000,000
  55      November-10      $472,222,222        $368,333,333
  56      December-10      $468,444,444        $362,666,667
  57      January-11       $464,666,667        $357,000,000
  58      February-11      $460,888,889        $351,333,333
  59       March-11        $457,111,111        $345,666,667
  60       April-11        $453,333,333        $340,000,000
  61        May-11         $449,555,556        $334,333,333
  62        June-11        $445,777,778        $328,666,667
  63        July-11        $442,000,000        $323,000,000
  64       August-11       $438,222,222        $317,333,333
  65     September-11      $434,444,444        $311,666,667
  66      October-11       $430,666,667        $306,000,000
  67      November-11      $426,888,889        $300,333,333
  68      December-11      $423,111,111        $294,666,667
  69      January-12       $419,333,333        $289,000,000
  70      February-12      $415,555,556        $283,333,333
  71       March-12        $411,777,778        $277,666,667
  72       April-12        $408,000,000        $272,000,000
  73        May-12         $404,222,222        $266,333,333
  74        June-12        $400,444,444        $260,666,667
  75        July-12        $396,666,667        $255,000,000
  76       August-12       $392,888,889        $249,333,333

                           Targeted Principal Balances

                         Minimum Targeted   Scheduled Targeted
Period       Date       Principal Balance    Principal Balance
------   ------------   -----------------   ------------------
   77    September-12      $389,111,111        $243,666,667
   78     October-12       $385,333,333        $238,000,000
   79     November-12      $381,555,556        $232,333,333
   80     December-12      $377,777,778        $226,666,667
   81     January-13       $374,000,000        $221,000,000
   82     February-13      $370,222,222        $215,333,333
   83      March-13        $366,444,444        $209,666,667
   84      April-13        $362,666,667        $204,000,000
   85       May-13         $358,888,889        $198,333,333
   86       June-13        $355,111,111        $192,666,667
   87       July-13        $351,333,333        $187,000,000
   88      August-13       $347,555,556        $181,333,333
   89    September-13      $343,777,778        $175,666,667
   90     October-13       $340,000,000        $170,000,000
   91     November-13      $336,222,222        $164,333,333
   92     December-13      $332,444,444        $158,666,667
   93     January-14       $328,666,667        $153,000,000
   94     February-14      $324,888,889        $147,333,333
   95      March-14        $321,111,111        $141,666,667
   96      April-14        $317,333,333        $136,000,000
   97       May-14         $313,555,556        $130,333,333
   98       June-14        $309,777,778        $124,666,667
   99       July-14        $306,000,000        $119,000,000
  100      August-14       $302,222,222        $113,333,333
  101    September-14      $298,444,444        $107,666,667
  102     October-14       $294,666,667        $102,000,000

                           Targeted Principal Balances

                         Minimum Targeted   Scheduled Targeted
Period       Date       Principal Balance    Principal Balance
------   ------------   -----------------   ------------------
  103     November-14      $290,888,889        $ 96,333,333
  104     December-14      $287,111,111        $ 90,666,667
  105     January-15       $283,333,333        $ 85,000,000
  106     February-15      $279,555,556        $ 79,333,333
  107      March-15        $275,777,778        $ 73,666,667
  108      April-15        $272,000,000        $ 68,000,000
  109       May-15         $268,222,222        $ 62,333,333
  110       June-15        $264,444,444        $ 56,666,667
  111       July-15        $260,666,667        $ 51,000,000
  112      August-15       $256,888,889        $ 45,333,333
  113    September-15      $253,111,111        $ 39,666,667
  114     October-15       $249,333,333        $ 34,000,000
  115     November-15      $245,555,556        $ 28,333,333
  116     December-15      $241,777,778        $ 22,666,667
  117     January-16       $238,000,000        $ 17,000,000
  118     February-16      $234,222,222        $ 11,333,333
  119      March-16        $230,444,444        $  5,666,667
  120      April-16        $226,666,667        $          0
  121       May-16         $222,888,889
  122       June-16        $219,111,111
  123       July-16        $215,333,333
  124      August-16       $211,555,556
  125    September-16      $207,777,778
  126     October-16       $204,000,000
  127     November-16      $200,222,222
  128     December-16      $196,444,444

                           Targeted Principal Balances

                         Minimum Targeted   Scheduled Targeted
Period       Date       Principal Balance    Principal Balance
------   ------------   -----------------   ------------------
  129     January-17       $192,666,667
  130     February-17      $188,888,889
  131      March-17        $185,111,111
  132      April-17        $181,333,333
  133       May-17         $177,555,556
  134       June-17        $173,777,778
  135       July-17        $170,000,000
  136      August-17       $166,222,222
  137    September-17      $162,444,444
  138     October-17       $158,666,667
  139     November-17      $154,888,889
  140     December-17      $151,111,111
  141     January-18       $147,333,333
  142     February-18      $143,555,556
  143      March-18        $139,777,778
  144      April-18        $136,000,000
  145       May-18         $132,222,222
  146       June-18        $128,444,444
  147       July-18        $124,666,667
  148      August-18       $120,888,889
  149    September-18      $117,111,111
  150     October-18       $113,333,333
  151     November-18      $109,555,556
  152     December-18      $105,777,778
  153     January-19       $102,000,000
  154    February-19       $ 98,222,222

                           Targeted Principal Balances

                         Minimum Targeted   Scheduled Targeted
Period       Date       Principal Balance    Principal Balance
------   ------------   -----------------   ------------------
  155      March-19        $94,444,444
  156      April-19        $90,666,667
  157       May-19         $86,888,889
  158       June-19        $83,111,111
  159       July-19        $79,333,333
  160      August-19       $75,555,556
  161    September-19      $71,777,778
  162     October-19       $68,000,000
  163     November-19      $64,222,222
  164     December-19      $60,444,444
  165     January-20       $56,666,667
  166     February-20      $52,888,889
  167      March-20        $49,111,111
  168      April-20        $45,333,333
  169       May-20         $41,555,556
  170       June-20        $37,777,778
  171       July-20        $34,000,000
  172      August-20       $30,222,222
  173    September-20      $26,444,444
  174     October-20       $22,666,667
  175     November-20      $18,888,889
  176     December-20      $15,111,111
  177     January-21       $11,333,333
  178     February-21      $ 7,555,556
  179      March-21        $ 3,777,778
  180      April-21        $         0EXHIBIT 10.39

--------------------------------------------------------------------------------

                             NOTE PURCHASE AGREEMENT

                            Dated as of April 7, 2006

                                     between

                               TAL ADVANTAGE I LLC
                                    as Issuer

                     TAL INTERNATIONAL CONTAINER CORPORATION
                                   as Manager

                              FORTIS SECURITIES LLC
                                       and

                       CREDIT SUISSE SECURITIES (USA) LLC
                              as Initial Purchasers

--------------------------------------------------------------------------------

                             (TAL ADVANTAGE I LLC -
                   SERIES 2006-1, VARIABLE RATE SECURED NOTES)

                                TABLE OF CONTENTS

                                                                            PAGE
                                                                            ----
SECTION 1.    Definitions................................................     2
SECTION 2.    The Notes..................................................     5
SECTION 3.    Representations and Warranties of the Issuer...............     6
SECTION 3A.   Representations and Warranties of the Manager..............     9
SECTION 4.    Purchase, Sale and Delivery of the Notes...................     9
SECTION 5.    Offering by the Initial Purchasers.........................    10
SECTION 6.    Covenants of the Issuer....................................    10
SECTION 7.    Expenses; Fees.............................................    12
SECTION 8.    Conditions of each Initial Purchaser's Obligation..........    13
SECTION 9.    Representations, Warranties and Covenants of the Initial
                 Purchasers..............................................    16
SECTION 10.   Indemnification and Contribution...........................    18
SECTION 11.   Survival; Scope of Liability...............................    21
SECTION 12.   Termination................................................    22
SECTION 13.   Supplied Information.......................................    22
SECTION 14.   Notices....................................................    22
SECTION 15.   Successors.................................................    23
SECTION 16.   Counterparts...............................................    23
SECTION 17.   Governing Law..............................................    23
SECTION 18.   Submission to Jurisdiction.................................    23
SECTION 19.   Waiver of Jury Trial.......................................    24
SECTION 20.   Negotiations...............................................    24
SECTION 21.   Amendments, Etc............................................    24
SECTION 22.   Severability of Provisions.................................    24
SECTION 23.   No Waiver; Cumulative Remedies.............................    24
SECTION 24.   Integration................................................    25
SECTION 25.   Nonpetition Covenant.......................................    25

                                       i

          NOTE PURCHASE AGREEMENT (as amended, modified and supplemented from
time to time in accordance with its terms, the "Agreement"), dated as of April
7, 2006, by and among:

          (1) TAL ADVANTAGE I LLC, a Delaware limited liability company, as
issuer under the Indenture (defined below) and the Series 2006-1 Supplement
(defined below) (the "Issuer");

          (2) TAL INTERNATIONAL CONTAINER CORPORATION, a Delaware corporation
(the "Manager");

          (3) FORTIS SECURITIES LLC, a Delaware limited liability company, as an
initial purchaser ("Fortis"); and

          (4) CREDIT SUISSE SECURITIES (USA) LLC, a Delaware limited liability
company, as an initial purchaser ("Credit Suisse" and, together with Fortis, the
"Initial Purchasers" and each an "Initial Purchaser").

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

     SECTION 1. Definitions.

     (a) Certain capitalized terms used throughout this Agreement are defined
above or in this Section 1(a). In addition, capitalized terms used but not
defined herein have the meanings given to such terms in Appendix A to the
Amended and Restated Indenture, dated as of April 12, 2006 (as amended,
restated, supplemented or otherwise modified from time to time in accordance
with its terms, the "Indenture"), by and between the Issuer and U.S. Bank
National Association, as indenture trustee (the "Indenture Trustee"), or, if not
defined therein, as defined in the Series 2006-1 Supplement, dated as of April
12, 2006, by and between the Issuer and the Indenture Trustee (as amended,
restated, supplemented or otherwise modified from time to time in accordance
with its terms, the "Series 2006-1 Supplement"), issued pursuant to the terms of
the Indenture.

     (b) As used in this Agreement and its exhibits, the following terms shall
have the following meanings (such meanings to be equally applicable to both the
singular and plural forms of the terms defined).

          Act: The Securities Act of 1933, as amended, and the rules and
regulations promulgated thereunder.

          Administrative Agent: Fortis Capital Corp., a Connecticut corporation.

          Authorized Signatories: Any Person designated by written notice
delivered to the Indenture Trustee and Administrative Agent as authorized to
execute documents and instruments on behalf of a Person.

          Closing Date: This term has the meaning set forth in Section 4 hereof.

          Code: Internal Revenue Code of 1986, as amended.

          Commission: The United States Securities and Exchange Commission.

          Container: This term has the meaning set forth in Appendix A to the
Indenture.

          Definitive Note: This term has the meaning set forth in Appendix A to
the Indenture.

          Depositary: The Depository Trust Company, until a successor Depositary
shall have become such pursuant to the applicable provisions of the Indenture,
and thereafter "Depositary" shall mean or include each Person who is then a
Depositary under the Indenture.

          Early Amortization Event: This term has the meaning set forth in
Section 1201 of the Indenture.

          ERISA: Employee Retirement Income Security Act of 1974, as amended.

          Event of Default: This term has the meaning set forth in Section 801
of the Indenture.

          Exchange Act: The Securities Exchange Act of 1934, as amended, and the
rules and regulations promulgated thereunder.

          FGIC: Financial Guaranty Insurance Company, a New York stock insurance
company, and its successors and assigns.

          Global Notes: This term has the meaning set forth in Appendix A to the
Indenture.

          Indenture: This term shall have the meaning set forth in Section 1(a)
hereof.

          Indenture Trustee: This term shall have the meaning set forth in
Section 1(a) hereof.

          Initial Purchaser Information: This term has the meaning set forth in
Section 13 hereof.

          Initial Purchasers: This term has the meaning set forth in the
preamble hereto.

          Institutional Accredited Investors: This term has the meaning set
forth in Section 2(f) hereof.

          Investment Company Act: The Investment Company Act of 1940, as
amended, and the rules and regulations promulgated thereunder.

          Loss: This term has the meaning set forth in Section 10(a) hereof.

          Manager Report: This term has the meaning set forth in Appendix A to
the Indenture.

          Moody's: Moody's Investors Service, Inc., and any successor thereto.

          Note Owners: With respect to a Book-Entry Note, the Person who is the
beneficial owner of such Book-Entry Note, as reflected on the books of (i) the
Depositary (a direct participant) or (ii) a Person maintaining an account with
the Depositary (an indirect participant), in each case in accordance with the
rules of the Depositary.

          Noteholder: The Person in whose name a Note is registered in the Note
Register maintained by the Indenture Trustee pursuant to Section 205 of the
Indenture.

          Notes: The Series 2006-1, Variable Rate Secured Notes issued by the
Issuer pursuant to the terms of the Series 2006-1 Supplement.

          Offering Memorandum: This term has the meaning set forth in Section
2(d) hereof.

          Person: An individual, a partnership, a limited liability company, a
corporation, a joint venture, an unincorporated association, a joint-stock
company, a trust, or other entity or a Governmental Authority.

          Policy: The financial guaranty insurance policy, dated April 12, 2006,
issued by FGIC, as Series Enhancer.

          Preliminary Offering Memorandum: This term has the meaning set forth
in Section 2(d) hereof.

          Proceeding: This term has the meaning set forth in Section 10(a)
hereof.

          Qualified Institutional Buyer: This term has the meaning set forth in
Rule 144A.

          Rating Agency: Each of S&P, Moody's and any other rating agency that
has been requested to issue a rating with respect to the Notes.

          Regulation S: This term has the meaning set forth in Section 2(f)
hereof.

          Related Assets: This term has the meaning set forth in Appendix A to
the Indenture.

          Rule 144A: Rule 144A under the Act, as such rule may be amended from
time to time.

          S&P: Standard & Poor's Ratings Services, a division of The McGraw-Hill
Companies, Inc., and any successor thereto.

          Series 2005-1 Notes: The Series 2005-1, Variable Rate Secured Notes
issued by the Issuer pursuant to the terms of the Amended and Restated Series
2005-1 Supplement, dated as of April 12, 2006, between the Issuer and the
Indenture Trustee.

          Series 2006-1 Supplement: This term has the meaning set forth in
Section 1(a) hereof.

          TAL Fleet: The Manager's fleet of Managed Containers.

          TAL Person: This term has the meaning set forth in Section 8(f)
hereof.

          UCC: The Uniform Commercial Code as in effect in the applicable
jurisdiction.

          United States: The United States of America.

     (c) All accounting terms not specifically defined herein shall be construed
in accordance with GAAP. All terms used in the UCC in effect in the State of New
York and not specifically defined herein, are used herein as defined therein.

     (d) Unless otherwise stated in this Agreement, in the computation of a
period of time from a specified date to a later specified date, the word "from"
means "from and including" and the words "to" and "until" each mean "to but
excluding".

     SECTION 2. The Notes. (a) Subject to the terms and conditions herein
contained, the Issuer proposes to sell to the Initial Purchasers $680,000,000
aggregate principal amount of the Notes, as more fully described in Section 4.
The terms of the Notes are more fully set forth in the Offering Memorandum.

     (b) The Notes are to be issued under the Series 2006-1 Supplement issued
pursuant to the Indenture.

     (c) The Notes shall be offered and sold to the Initial Purchasers without
being registered under the Act, in reliance on exemptions therefrom.

     (d) In connection with the sale of the Notes, the Issuer has prepared a
preliminary offering memorandum dated April 3, 2006 (the "Preliminary Offering
Memorandum") and a final Offering Memorandum dated April 7, 2006 (the "Offering
Memorandum"), which shall each be in form and substance satisfactory to the
Initial Purchasers. All references to the Preliminary Offering Memorandum or the
Offering Memorandum shall be deemed to include all attachments thereto.

     (e) The Issuer hereby expressly authorizes the Initial Purchasers to use
the Preliminary Offering Memorandum and the Offering Memorandum, as they may at
any time have been or may be amended or supplemented by the Issuer, in
connection with the offer and sale of the Notes. The Issuer hereby ratifies and
affirms all distributions of the Preliminary Offering Memorandum by the Initial
Purchasers prior to the date of this Agreement and authorizes the Initial
Purchasers to distribute the Preliminary Offering Memorandum and the Offering
Memorandum in connection with the offer and sale of the Notes, provided that
such

distributions were made only to Persons reasonably believed by the Initial
Purchasers to be (i) Qualified Institutional Buyers, (ii) Institutional
Accredited Investors, or (iii) certain Persons to whom the offer and sale of the
Notes may be made without registration under the Act in reliance upon Regulation
S. The Issuer also hereby expressly authorizes the Initial Purchasers to
distribute to Persons with the aforementioned qualifications copies of the
Series 2006-1 Transaction Documents and of opinion letters and other documents
delivered in connection with the execution of the Series 2006-1 Transaction
Documents, in connection with the offer and sale of the Notes.

     (f) The Issuer understands that the Initial Purchasers propose to make an
offering of the Notes, as soon as they deem advisable after this Agreement has
been executed and delivered, on the terms and in the manner set forth in the
Offering Memorandum to Persons that the Initial Purchasers reasonably believe to
be (i) Qualified Institutional Buyers, in transactions under Rule 144A, (ii)
institutional "accredited investors" ("Institutional Accredited Investors"), as
defined in Rule 501(a)(1), (2), (3) or (7) under Regulation D of the Act in
private sales exempt from registration under the Act, or (iii) certain Persons
to whom the offer and sale of the Notes may be made without registration under
the Act in reliance upon Regulation S under the Act ("Regulation S"). Any Notes
sold to Institutional Accredited Investors shall be represented by one or more
Definitive Notes.

     SECTION 3. Representations and Warranties of the Issuer. The Issuer
represents and warrants to the Initial Purchasers that as of the date hereof and
as of the Closing Date:

     (a) None of the Preliminary Offering Memorandum, the Offering Memorandum or
any amendment thereof or supplement thereto as of the respective dates thereof,
contained or contains an untrue statement of a material fact or omitted or omits
(except in the case of the Preliminary Offering Memorandum, for pricing terms
and other financial or similar terms intentionally left blank) to state a
material fact necessary to make the statements therein, in light of the
circumstances under which they were made, not misleading, except that the
representations and warranties set forth in this subsection do not apply to
statements or omissions made in the "Structuring Assumptions" section or
statements or omissions made in reliance upon and in conformity with the Initial
Purchaser Information or any written information provided to the Issuer by or on
behalf of FGIC for inclusion therein, such information being the information in
the Preliminary Offering Memorandum and the Offering Memorandum under the
heading "The Series Enhancer" and the information in Annex F. The statements
made in the "Structuring Assumptions" section of the Offering Memorandum are the
good faith estimate of the Issuer, based on reasonable assumptions.

     (b) The statements in the Offering Memorandum under the captions
"Description of the Management Agreement," "Description of the Contribution and
Sale Agreement," "Description of the Series 2006-1 Notes and the Indenture",
"Description of the Policy" and "Description of the Administration Agreement,"
insofar as they purport to constitute a summary of the principal terms of the
Notes and the Series 2006-1 Transaction Documents conform in all material
respects to the terms of the Notes and the Series 2006-1 Transaction Documents.

     (c) The Issuer is a limited liability company duly organized, validly
existing and in good standing under the laws of Delaware. The Issuer is duly
qualified to do business in each

jurisdiction in which its ownership or lease of property or the conduct of its
business requires such qualification, except where the failure to be so
qualified would not reasonably be expected to have a material adverse effect
upon the Issuer or the ability of the Issuer to perform any of its obligations
under any Series 2006-1 Transaction Document to which it is a party.

     (d) The Issuer has all necessary limited liability company power and
authority to execute and deliver the Notes. Each Note has been duly and validly
authorized by the Issuer and, from and after the date on which such Note is
executed by the Issuer and authenticated by the Indenture Trustee in accordance
with the terms of the Indenture and the Series 2006-1 Supplement and delivered
to and paid for by the Initial Purchasers in accordance with the terms of this
Agreement, shall be validly issued and outstanding and shall constitute a valid
and legally binding obligation of the Issuer enforceable against the Issuer in
accordance with its terms, except as enforceability may be limited by
bankruptcy, insolvency, reorganization or other similar laws affecting the
enforcement of creditors' rights generally and by general principles of equity,
regardless of whether enforceability is considered in a proceeding in equity or
at law.

     (e) The Issuer has all necessary limited liability company power and
authority to execute and deliver this Agreement and the other Series 2006-1
Transaction Documents to which it is a party; and the Issuer is and will
continue to be authorized to perform its obligations under the Indenture, this
Agreement and the other Series 2006-1 Transaction Documents. The execution,
delivery and performance by the Issuer of this Agreement and the other Series
2006-1 Transaction Documents to which it is a party and the transactions
thereunder do not require any consent or approval of any Governmental Authority,
stockholder or any other Person, other than any such consents or approvals that
have been obtained on or prior to the 2006-1 Closing Date or which the failure
to obtain would not reasonably be expected to result in a Material Adverse
Change.

     (f) This Agreement is, and each Series 2006-1 Transaction Document to which
the Issuer is a party, when duly executed and delivered by each of the parties
thereto, will be, the legal, valid and binding obligations of the Issuer,
enforceable against the Issuer in accordance with its terms, except as
enforceability may be limited by bankruptcy, insolvency or other similar laws of
general application affecting the enforcement of creditors' rights or by general
principles of equity limiting the availability of equitable remedies.

     (g) This Agreement has been duly and validly executed and delivered by the
Issuer.

     (h) The execution, delivery and performance of this Agreement and each of
the other Series 2006-1 Transaction Documents by the Issuer and the execution,
delivery and payment of the Notes by the Issuer will not: (a) contravene any
provision of the Issuer's certificate of formation or limited liability company
agreement; or (b) assuming the accuracy of the representations and warranties of
the other parties hereto or thereto and the performance by those parties of
their agreements and obligations herein or therein, contravene, conflict with or
violate any Applicable Law or regulation, or any order, writ, judgment,
injunction, decree, determination or award of any Governmental Authority having
jurisdiction over the Issuer; or (c) violate or result in the breach of, or
constitute a default under the Indenture, the other Series 2006-1 Transaction
Documents, any other indenture or other loan or credit agreement, or other
agreement or instrument to which the Issuer is a party or by which the Issuer,
or its property and

assets may be bound or affected; except for, in the cases of clauses (a), (b) or
(c) above, any such contravention, conflict, violation, breach or default that
would not, individually or in the aggregate, reasonably be expected to result in
a Material Adverse Change.

     (i) Except as disclosed in the Offering Memorandum, there is no action,
suit, proceeding or investigation pending or, to the best knowledge of the
Issuer, threatened against it before any court, regulatory body, arbitrator,
administrative agency or other tribunal or governmental instrumentality (i) that
asserts the invalidity of this Agreement or any other Series 2006-1 Transaction
Document, or (ii) if determined adversely to the Issuer would individually or in
the aggregate have a material and adverse effect on the ability of the Issuer to
perform any of its obligations under the Series 2006-1 Transaction Documents to
which it is a party.

     (j) The Issuer does not own any "margin security", as that term is defined
in Regulation U of the Federal Reserve Board. None of the proceeds to the Issuer
of the Notes will be used, directly or indirectly, for the purpose of purchasing
or carrying any margin security, for the purpose of reducing or retiring any
Indebtedness which was originally incurred to purchase or carry any margin
security or for any other purpose which might cause any of the loans under the
Series 2006-1 Supplement to be considered a "purpose credit" within the meaning
of Regulations T, U and X. The Issuer will not take or permit any agent acting
on its behalf to take any action which might cause the Notes or any document or
instrument delivered by the Issuer pursuant to the Series 2006-1 Supplement to
violate any regulation of the Federal Reserve Board.

     (k) The Issuer is not: (a) a "public utility company" or a "holding
company," or an "affiliate" or a "subsidiary company" of a "holding company," or
an "affiliate" of such a "subsidiary company," as such terms are defined in the
Public Utility Holding Company Act of 1935, as amended, or (b) an "investment
company," or an "affiliated person" of, or a "promoter" or "principal
underwriter" for, an "investment company," as such terms are defined in the
Investment Company Act. The issuance of the Notes hereunder and the application
of the proceeds thereof by the Issuer and the performance of the transactions
contemplated by the Indenture, the Series 2006-1 Supplement and the other Series
2006-1 Transaction Documents will not violate any provision of the Investment
Company Act or the Public Utility Holding Company Act, or any rule, regulation
or order issued by the Securities and Exchange Commission thereunder.

     (l) None of the Issuer, any of its Affiliates or any Person acting on its
or their behalf has engaged in any directed selling efforts (as that term is
defined in Regulation S) with respect to any Notes (provided that no
representation is made as to the actions of the Initial Purchasers or any Person
acting on their respective behalf). The Issuer, its Affiliates and any Person
acting on its or their behalf (provided that no representation is made as to the
actions of the Initial Purchasers or any Person acting on their respective
behalf) have complied with the offering restrictions and the requirements of
Regulation S in connection with any offering of Notes outside the United States.

     (m) Assuming the representations and warranties of the Initial Purchasers
in Section 9 are true and assuming the compliance by the Initial Purchasers of
their respective covenants and agreements set forth herein, it is not necessary
to register any of the Notes under the Act or to qualify the Indenture under the
Trust Indenture Act of 1939, as amended, in connection with the

initial sale of the Notes to the Initial Purchasers in the manner contemplated
by this Agreement or for the initial resale of the Notes by the Initial
Purchasers in the manner contemplated by this Agreement.

     (n) On the date hereof and the Closing Date, (i) each of the
representations and warranties of the Issuer that is set forth in this
Agreement, the Indenture or the other Series 2006-1 Transaction Documents is and
shall be true and correct in all material respects (except to the extent that
such representations or warranties specifically relate to an earlier date), and
(ii) the Issuer is not and shall not be in breach, in any material respect, of
any covenant or agreement set forth in this Agreement, the Indenture or any
other Series 2006-1 Transaction Document.

     (o) No Event of Default or Early Amortization Event has occurred and is
continuing. No event or condition that with notice or the passage of time (or
both) could reasonably be expected to constitute an Event of Default or Early
Amortization Event has occurred or is continuing.

     (p) The Notes meet the eligibility requirements of Rule 144A(d)(3) of the
Act.

     (q) Neither the Issuer nor any of its Affiliates has purchased, or is
purchasing, any Notes.

     SECTION 3A. Representations and Warranties of the Manager. The Manager
represents and warrants to the Initial Purchasers that as of the date hereof and
as of the Closing Date: (i) each of the representations and warranties of the
Manager that is set forth in the Series 2006-1 Transaction Documents to which it
is a party is and shall be true and correct in all material respects (unless
such representation or warranty specifically relates to an earlier date in which
case it will be true and correct in all material respects as of such earlier
date), and (ii) the Manager is not and shall not be in breach, in any material
respect, of any of its covenants or agreements set forth in this Agreement or
any other Series 2006-1 Transaction Document to which it is a party.

     SECTION 4. Purchase, Sale and Delivery of the Notes. On the basis of the
representations, warranties, agreements and covenants herein contained and
subject to the terms and conditions herein set forth, Issuer agrees to sell to
the Initial Purchasers, and each Initial Purchaser agrees to purchase from the
Issuer, on the Closing Date, the principal amount of the Notes set forth on
Schedule I hereto opposite the name of such respective Initial Purchaser. The
Notes are to be purchased by the Initial Purchasers at a purchase price equal to
100% of the aggregate principal amount thereof. Except for any Notes issued to
Institutional Accredited Investors which Notes shall be issued as Definitive
Notes, the Notes shall be Book-Entry Notes, and shall be registered in the name
of Cede & Co., as nominee of The Depository Trust Company. The delivery of and
payment for the Notes shall be made at the offices of Mayer Brown Rowe & Maw
LLP, at 10:00 a.m., New York time on April 12, 2006 or at such other place, time
or date as the Initial Purchasers and the Issuer may agree upon, such time and
date of delivery against payment being herein referred to as the "Closing Date".
The Issuer shall make copies of the Notes available for checking by the Initial
Purchasers at the offices of the Initial Purchasers at least 24 hours prior to
the Closing Date. The purchase price of the Notes paid by the Initial Purchasers
shall be remitted by wire transfer to the Indenture Trustee.

     SECTION 5. Offering by the Initial Purchasers.

     (a) Each Initial Purchaser proposes to make an offering of the Notes, upon
the terms set forth in the Offering Memorandum, as soon as practicable after
this Agreement is entered into and as in its judgment is advisable. During the
period from the date of this Agreement until the earlier of (i) the date on
which the Initial Purchasers shall have completed the initial resale of all of
the Notes and (ii) 90 days after the date of this Agreement, the Issuer agrees
to reasonably assist the Initial Purchasers in any marketing of the Notes and
(promptly upon request) to provide all information reasonably deemed necessary
by the Initial Purchasers in such marketing. In addition, during such period the
Issuer shall use commercially reasonable efforts to make appropriate officers
and representatives of the Issuer available to participate in information
meetings for potential investors at such times and places as the Initial
Purchasers may reasonably request.

     (b) The Issuer acknowledges and agrees that the Initial Purchasers are
acting solely in the capacity of an arm's length contractual counterparty to the
Issuer with respect to the offering of the Notes contemplated hereby (including
in connection with determining the terms of the offering) and not as a financial
advisor or a fiduciary to, or an agent of, the Issuer or any other Person.
Additionally, the Initial Purchasers are not advising the Issuer or any other
Person as to any legal, tax, investment, accounting or regulatory matters in any
jurisdiction. The Issuer shall consult with its own advisors concerning such
matters and shall be responsible for making its own independent investigation
and appraisal of the transactions contemplated hereby, and the Initial
Purchasers shall have no responsibility or liability to the Issuer with respect
thereto. Any review by the Initial Purchasers of the Issuer, the transactions
contemplated hereby or other matters relating to such transactions will be
performed solely for the benefit of the Initial Purchasers and shall not be on
behalf of the Issuer.

     (c) The Issuer acknowledges and agrees that:

               (i) the Issuer has been advised that the Initial Purchasers and
     their Affiliates are engaged in a broad range of transactions which may
     involve interests that differ from those of the Issuer and that the Initial
     Purchasers have no obligation to disclose such interests and transactions
     to the Issuer by virtue of any fiduciary, advisory or agency relationship;
     and

               (ii) the Issuer waives, to the fullest extent permitted by law,
     any claims it may have against the Initial Purchasers for breach of
     fiduciary duty or alleged breach of fiduciary duty and agree that the
     Initial Purchasers shall have no liability (whether direct or indirect) to
     the Issuer in respect of such a fiduciary duty claim or to any Person
     asserting a fiduciary duty claim on behalf of or in right of the Issuer,
     including stockholders, employees or creditors of the Issuer.

     SECTION 6. Covenants of the Issuer. The Issuer covenants and agrees with
the Initial Purchasers that:

     (a) The Issuer shall not amend or supplement the Offering Memorandum or any
amendment thereof or supplement thereto unless the Initial Purchasers previously
shall have

been advised thereof and been furnished a copy thereof prior to the proposed
amendment or supplement and shall not have reasonably objected in writing within
five (5) Business Days after being furnished a copy thereof. If, at any time
during the period beginning on the date hereof and ending on the earlier of (i)
the date on which Initial Purchasers shall have completed the initial resale of
all of the Notes and (ii) 90 days after the date of this Agreement, any event
occurs as a result of which the Offering Memorandum as then amended or
supplemented would include an untrue statement of a material fact or omit to
state any material fact necessary in order to make the statements therein, in
the light of the circumstances under which they were made, not misleading, or if
it is necessary at any such time to amend or supplement the Offering Memorandum
to comply with any Applicable Law, the Issuer shall promptly notify the Initial
Purchasers thereof and shall prepare and deliver to the Initial Purchasers, at
the expense of the Issuer, an amendment of or supplement to the Offering
Memorandum which will correct such statement or omission or effect such
compliance.

     (b) The Issuer will use its reasonable efforts to arrange for qualification
or exemption of the Notes for sale under the securities or "Blue Sky" laws of
any state that the Initial Purchasers shall reasonably request and shall pay all
reasonable expenses (including reasonable fees and disbursements of counsel) in
connection with the qualification or exemption and in connection with the
determination of the eligibility of the Notes for investment under the laws of
the jurisdictions that the Initial Purchasers may reasonably designate and will
continue such qualifications or exemptions in effect in such jurisdictions until
the earlier of (x) the date on which Initial Purchasers shall have completed the
initial resale of all of the Notes and (y) 90 days after the date of this
Agreement, provided that the Issuer will not be required to (i) qualify to do
business in any jurisdiction it is not now so qualified, (ii) take any action
that would subject it to service of process in suits (other than those suits
arising out of the offering or sale of the Notes) in any jurisdiction where it
is not now so subject or (iii) subject it to taxation in excess of a nominal
dollar amount in any such jurisdiction where it is not now so subject.

     (c) The Issuer shall, without charge, provide to the Initial Purchasers as
many copies of the Preliminary Offering Memorandum and the Offering Memorandum
and any amendment thereof or supplement thereto as the Initial Purchasers may
reasonably request.

     (d) The Issuer (or any of its "affiliates" as defined in Regulation D under
the Act), directly or through any agent, shall not sell, offer for sale or
solicit offers to buy or otherwise negotiate in respect of any "security" (as
defined in the Act) that is integrated with the sale of the Notes hereunder in a
manner that would cause the exemption afforded by Section 4(2) of the Act or the
safe harbor of Regulation S thereunder to cease to be applicable to the offer
and sale of the Notes hereunder.

     (e) Neither the Issuer nor any of its Affiliates shall contact or solicit
potential investors to purchase any Note, engage any Person to assist in the
placement or sale of the Notes or sell any Notes to any Person, in the case of
each of the foregoing, other than the Initial Purchasers except as consented to
in writing by the Initial Purchasers.

     (f) The Issuer shall cause the Notes to be eligible for clearance and
settlement through The Depository Trust Company.

     (g) Neither the Issuer nor any of its Affiliates shall sell or otherwise
transfer any Notes that have been acquired by any of them.

     (h) Except with respect to the Series 2005-1 Notes and the Notes to be
issued on the Closing Date, during the period commencing on the date hereof and
ending on the thirtieth (30th) day after the Closing Date, the Issuer shall not
issue any U.S. dollar denominated debt securities similar to the Notes which are
either placed or syndicated by the Issuer or any of its Affiliates in the
international or U.S. capital markets, directly or on their behalf, in any
manner which could in the sole judgment of the Initial Purchasers have a
detrimental effect on the successful offering, sale or resale of the Notes
unless mutually agreed to in writing by the Initial Purchasers and the Issuer.

     (i) During the period of two years after the Closing Date, the Issuer will
not be or become an open-end investment company, unit investment trust or
face-amount certificate company that is or is required to be registered under
Section 8 of the Investment Company Act.

     (j) If the rating assigned to the Notes is dependent upon the delivery to
the Rating Agencies of the executed Series 2006-1 Transaction Documents, the
Issuer shall deliver such documents to the Rating Agencies within thirty (30)
days after the Closing Date.

     SECTION 7. Expenses; Fees. (a) Each of the Manager and the Issuer jointly
and severally agrees to pay all reasonable and documented costs and expenses
incident to the purchase and resale of the Notes by the Initial Purchasers and
the transactions contemplated by this Agreement and the Series 2006-1
Transaction Documents, whether or not the transactions contemplated herein or
therein are consummated or this Agreement is terminated pursuant to Section 12,
including all reasonable and documented costs and expenses incident to (i) the
preparation, printing, word processing, distribution or other production of
documents with respect to such transactions, including any costs in respect of
the Series 2006-1 Transaction Documents, the Preliminary Offering Memorandum and
the Offering Memorandum and any amendment thereof or supplement thereto, and any
"Blue Sky" memorandum, (ii) all arrangements relating to the delivery to the
Initial Purchasers of copies of the foregoing documents, (iii) the reasonable
and documented fees and disbursements of counsel, accountants and other
consultants, experts and advisors retained by the Initial Purchasers or any of
their Affiliates (provided that the fees of counsel to the Initial Purchasers
shall not exceed $200,000), (iv) preparation, issuance, transfer and delivery of
the Notes, (v) the Indenture Trustee's reasonable and documented fees and
expenses, including reasonable and documented expenses of counsel retained by
the Indenture Trustee, (vi) the qualification of the Notes under state
securities and "Blue Sky" laws (including filing fees and fees) to the extent
such qualification is required by this Agreement, (vi) reasonable and documented
expenses of the Initial Purchasers in connection with any meetings with
prospective investors in the Notes, (vii) all reasonable and documented expenses
and fees incurred in connection with causing the Notes to be eligible for
clearance and settlement through The Depository Trust Company, (viii) fees
charged by S&P for the rating of the Notes and (ix) fees charged by Moody's for
the rating of the Notes. The Issuer acknowledges that the Initial Purchasers are
not responsible for any of the fees, costs and expenses contemplated by this
subsection.

     (b) Each of the Manager and the Issuer jointly and severally agrees to pay
or reimburse, on a timely basis, each Initial Purchaser for all reasonable and
documented out of pocket fees, costs and expenses incurred by such Initial
Purchaser or third parties selected by such Initial Purchaser (which may include
an Affiliate of such Initial Purchaser) in connection with the conduct of a due
diligence examination of the Containers and the Related Transferred Assets, and
of the activities of the Issuer and any of its Affiliates with respect to the
Managed Containers and the Related Assets whether or not the transactions
contemplated herein are consummated. The Issuer agrees that these fees may
include reasonable and documented fees and expenses incurred in connection with
time spent at the offices of the Issuer, the Manager, or any of their Affiliates
and in preparation of reports relating thereto.

     (c) The amounts payable under each clause of this section shall be
cumulative and payment of amounts referred to in one clause shall not reduce
amounts payable under another clause.

     SECTION 8. Conditions of each Initial Purchaser's Obligation. The
obligations of each Initial Purchaser to purchase and pay for Notes in an amount
equal to the principal amount set forth on Schedule I hereto opposite its name
shall, in its sole discretion, be subject to the following conditions:

     (a) The Issuer shall have (i) caused all Uniform Commercial Code financing
statements (or documents of similar import) required to perfect the first
priority security interest of the Indenture Trustee pursuant to the Indenture in
the Collateral and related items, in each case, to be duly filed in the manner
required by the laws of each appropriate jurisdiction.

     (b) All corporate and other proceedings in connection with the transactions
contemplated hereby and by the Series 2006-1 Transaction Documents and all
documents and Notes incident thereto shall be reasonably satisfactory in form
and substance to the Initial Purchasers and their counsel, and each Initial
Purchaser shall have received any other documents incident to the transactions
contemplated hereby and by the Series 2006-1 Transaction Documents that such
Initial Purchaser or its counsel shall reasonably request. Each Initial
Purchaser or its counsel shall have received on the Closing Date certified
copies of all documents evidencing corporate or other organizational action
taken by the Issuer, the Manager and the Indenture Trustee to approve the
execution and delivery of this Agreement and the Series 2006-1 Transaction
Documents to which they are a party and the consummation of the transactions
contemplated hereby and thereby.

     (c) Immediately prior to the sale of the Notes to the Initial Purchasers,
the Notes shall have been executed by the Issuer and authenticated by or on
behalf of the Indenture Trustee, and this Agreement and each of the Series
2006-1 Transaction Documents that are to be executed and delivered on or prior
to the Closing Date shall have been executed and delivered. The Initial
Purchasers and the Indenture Trustee shall have received on the Closing Date a
fully executed counterpart original and any required conformed copies of all
Series 2006-1 Transaction Documents delivered on or prior to the Closing Date,
and the Indenture Trustee shall have received the Notes.

     (d) Each Initial Purchaser or its counsel shall have received on the
Closing Date signature and incumbency certificates executed by Authorized
Signatories of the Issuer and the Indenture Trustee certifying the identities
and signatures of those officers who executed each of this Agreement and the
other Series 2006-1 Transaction Documents delivered in connection with Series
2006-1 to which the Issuer or the Indenture Trustee, as the case may be, is a
party.

     (e) The Notes shall have been rated "AAA" by S&P and "Aaa" by Moody's, all
of such ratings shall be in full force and effect and the Initial Purchasers
shall have received letters from such Rating Agencies dated on or before the
Closing Date to such effect.

     (f) Subsequent to the execution and delivery of this Agreement, there shall
not have occurred (i) any material adverse change, or any development involving
a prospective material adverse change, in the condition (financial or otherwise)
or in the business, properties or operations of the Issuer or the Manager
(collectively, a "TAL Person"), (ii) a material suspension or material
limitation of trading in securities generally on the New York Stock Exchange, or
the establishment of minimum prices on the New York Stock Exchange, (iii) a
general moratorium on commercial banking activities declared by any state of the
United States or United States authorities, (iv) any material outbreak or
material escalation of hostilities, insurrection or armed conflict in which the
United States of America is involved, any declaration of war by Congress or any
other national or international calamity or emergency that in the sole judgment
of the Initial Purchasers makes it impractical or inadvisable to purchase the
Notes or to proceed with the offering, sale, resale or delivery of the Notes, or
(v) any material adverse change in financial, political or economic conditions
that in the sole judgment of the Initial Purchasers makes it impractical or
inadvisable to purchase the Notes or to proceed with the offering, sale, resale
or delivery of the Notes.

     (g) On the Closing Date, the Initial Purchasers shall have received
opinions, dated the Closing Date, addressed to the Initial Purchasers and in
form and substance reasonably satisfactory to its counsel, of (i) Mayer, Brown,
Rowe and Maw LLP, counsel to the Issuer and the Manager, as to (A) perfection of
the Indenture Trustee's interest in the Collateral and other UCC matters, (B)
"true sale", substantive consolidation, (C) corporate, tax and other matters,
and (D) securities laws matters; (ii) internal counsel of the Manager as to
certain matters relating to the Manager; (iii) counsel to the Indenture Trustee,
as to certain matters relating to the Indenture Trustee; (iv) counsel to FGIC,
as to the due organization of FGIC and the enforceability of the Policy; and (v)
such opinion letters, if any, as shall be delivered to the Rating Agencies with
respect to matters not addressed in clauses (i) through (iv) above. In addition
to the matters set forth above, the opinion letter of Mayer, Brown, Rowe and Maw
LLP shall also include a statement to the effect that, during the preparation of
the Offering Memorandum, such counsel has participated in conferences with
officers and other representatives of the independent public accountants for the
Issuer, representatives of the Initial Purchasers and counsel for the Initial
Purchasers, at which conferences the content of the Offering Memorandum and
related matters were discussed. Based upon such participation but without
independent review or verification, and without passing upon, and without
assuming responsibility for, the accuracy, completeness or fairness of the
statements contained in the Offering Memorandum, no facts have come to such
counsel's attention which leads it to believe that, at the time the Offering
Memorandum (except as to financial statements and related notes, structuring
assumptions, financial and accounting data and supported schedules included
therein or omitted therefrom, as to which such counsel

need express no opinion) contained any untrue statement of material fact or
omitted to state any material fact required to be stated therein or necessary to
make the statements therein (in light of the circumstances in which they were
made) not misleading.

     (h) The Initial Purchasers shall have received a letter from an Independent
Accountant dated the date of the Preliminary Offering Memorandum (with respect
to the Preliminary Offering Memorandum) and the Closing Date (with respect to
the Offering Memorandum), in form and substance satisfactory to the Initial
Purchasers and their counsel, containing statements and information of the type
ordinarily included in accountants' "comfort letters" with respect to
information contained in the Preliminary Offering Memorandum and the Offering
Memorandum.

     (i) The representations and warranties of the Issuer and the Manager
contained in this Agreement and in the Series 2006-1 Transaction Documents to
which it is a party shall be true and correct in all material respects as of the
date hereof and as of the Closing Date; each of the Issuer and the Manager shall
have performed in all material respects all covenants and agreements and
satisfied in all material respects all conditions on its part to be performed or
satisfied hereunder and under the Series 2006-1 Transaction Documents on or
prior to the Closing Date.

     (j) The Initial Purchasers shall have received a certificate of each TAL
Person, dated the Closing Date, signed on behalf of each TAL Person (as
applicable) by its President or any Vice President and its Chief Financial
Officer or if such entity has none, its Treasurer, to the effect that, to the
actual knowledge of such person after reasonable inquiry:

          (i) The representations and warranties of such TAL Person contained in
     this Agreement and in the Series 2006-1 Transaction Documents to which such
     TAL Person is a party are true and correct in all material respects as of
     the Closing Date as if made on such date, such TAL Person has performed in
     all material respects all covenants and agreements and satisfied in all
     material respects all conditions on its respective part to be performed or
     satisfied hereunder and under the other Series 2006-1 Transaction Documents
     on or prior to the Closing Date, and since the date of this Agreement,
     there has been no material adverse change in the business, condition
     (financial or otherwise) or results of operations of such TAL Person.

          (ii) Except as set forth in the Offering Memorandum, since the date of
     this Agreement, there has not occurred any material adverse change, or any
     development involving a prospective material adverse change, in the
     condition (financial or otherwise) or in the business, properties or
     operations of such TAL Person.

     (k) The Initial Purchasers shall have received confirmation that the Notes
have been accepted for clearance of secondary market trading by The Depository
Trust Company.

     (l) The Offering Memorandum shall have been printed and an electronic copy
distributed to the Initial Purchasers not later than 5:00 p.m., New York time on
April 8, 2006, with paper copies distributed to the Initial Purchasers promptly
thereafter, but not later than 5:00 p.m. on April 10, 2006.

     (m) This Agreement has not terminated pursuant to Section 12.

     (n) The Policy shall have been issued and all conditions precedent to the
issuance thereof shall have been satisfied or waived.

     The Issuer shall furnish to the Initial Purchasers and the Rating Agencies
(i) such other agreements, instruments, documents, opinions, certificates,
letters and schedules as the Initial Purchasers or their counsel or any Rating
Agency or its counsel reasonably may request, and (ii) originals and conformed
copies of all opinions, certificates, letters, schedules, agreements, documents
and instruments delivered pursuant to this Agreement in the quantities that the
Initial Purchasers or the Rating Agencies, as the case may be, may reasonably
request.

     SECTION 9. Representations, Warranties and Covenants of the Initial
Purchasers. Each Initial Purchaser represents and warrants and covenants to the
Issuer that:

     (a) Such Initial Purchaser is an Institutional Accredited Investor.

     (b) Such Initial Purchaser severally acknowledges that the Notes have not
been registered under the Act and may not be offered or sold within the United
States or to, or for the account or benefit of, U.S. persons except in
accordance with Regulation S or pursuant to an exemption from the registration
requirements of the Act. Such Initial Purchaser severally represents and agrees
that it has offered and sold the Notes, and will offer and sell the Notes (i) as
part of its distribution at any time and (ii) otherwise until 40 days after the
later of the commencement of the offering and the Closing Date, only in
accordance with Rule 903 or Rule 144A or to Institutional Accredited Investors.
Accordingly, neither such Initial Purchaser nor its Affiliates, nor any persons
acting on its or their behalf, have engaged or will engage in any directed
selling efforts with respect to the Notes, and such Initial Purchaser, its
Affiliates and all persons acting on its or their behalf have complied and will
comply with the offering restrictions requirement of Regulation S. Such Initial
Purchaser will not offer or sell, and has not offered or sold any Notes except
(x) within the United States to persons reasonably believed by it to be (i)
Qualified Institutional Buyers in reliance on the exemption from registration
provided by Rule 144A or (ii) Institutional Accredited Investors and (y) to
certain non-U.S. persons outside the United States within the meaning of, and in
compliance with, Regulation S. Such Initial Purchaser severally agrees that, at
or prior to confirmation of sale of the Notes, other than a sale pursuant to
Rule 144A, such Initial Purchaser will have sent to each distributor, dealer or
person receiving a selling concession, fee or other remuneration that purchases
the Notes from it during the restricted period a confirmation or notice (which
notice may be contained in the Preliminary Offering Memorandum) to substantially
the following effect:

          "The Series 2006-1 Notes are being transferred to the purchaser in a
          transaction not involving any public offering in the United States
          within the meaning of the Securities Act, and that, if in the future
          the purchaser decides to resell, pledge or otherwise transfer any
          Series 2006-1 Notes, such Series 2006-1 Notes may be resold, pledged
          or transferred only in accordance with applicable state securities
          laws and (i) in a transaction meeting the requirements of Rule 144A,
          to a person that the transferor reasonably believes is a Qualified
          Institutional Buyer) and to whom notice

          is given that the resale, pledge or transfer is being made in reliance
          on Rule 144 A, (ii) (a) to a person that is an Institutional
          Accredited Investor, is taking delivery of such Note in an amount of
          at least $100,000 (or, if greater, the U.S. dollar equivalent of
          50,000 Euros) and delivers a Purchaser Letter in the form of Annex A
          hereto to the Indenture Trustee, or (b) to a person that is taking
          delivery of such Note pursuant to a transaction that is otherwise
          exempt from the registration requirements of the Securities Act, as
          confirmed in an opinion of counsel addressed to the Indenture Trustee
          and the Issuer, which counsel and opinion are satisfactory to the
          Indenture Trustee and the Issuer, or (iii) in an offshore transaction
          in accordance with Rule 903 or 904 of Regulation S.

Terms used in this subsection (b) have the meanings given to them by Regulation
S.

     (c) Such Initial Purchaser severally agrees that it and each of its
Affiliates will not offer or sell the Notes in the United States by means of any
form of general solicitation or general advertising within the meaning of Rule
502(c) under the Act, including, but not limited to (i) any advertisement,
article, notice or other communication published in any newspaper, magazine or
similar media or broadcast over television or radio, or (ii) any seminar or
meeting whose attendees have been invited by any general solicitation or general
advertising. Such Initial Purchaser severally agrees, with respect to resales
made in reliance on Rule 144A of any of the Notes, to deliver either with the
confirmation of such resale or otherwise prior to settlement of such resale a
notice to the effect that the resale of such Notes has been made in reliance
upon the exemption from the registration requirements of the Securities Act
provided by Rule 144A.

     (d) Such Initial Purchaser has not engaged in any form of general
solicitation or general advertising in connection with the offering or sale of
the Notes (as those terms are used in Regulation D under the Act).

     (e) Such Initial Purchaser is not acquiring the Notes with the assets of an
employee benefit plan within the meaning of the ERISA or a plan as defined in
Section 4975 of the Code.

     (f) The acquisition and holding of the Note will not give rise to a
nonexempt prohibited transaction under Section 406(a) of ERISA or Section 4975
of the Code.

     (g) Such Initial Purchaser will not offer or sell any Note except on the
terms contemplated by the Offering Memorandum and in accordance with all
Applicable Laws.

     (h) Such Initial Purchaser severally agrees that it and each of its
Affiliates has not entered and will not enter into any contractual arrangement
with respect to the distribution of the Notes except for any such arrangements
with the other Initial Purchasers or Affiliates of the other Initial Purchasers
or with the prior written consent of the Issuer.

     (i) Such Initial Purchaser severally represents and agrees that (i) it has
only communicated or caused to be communicated and will only communicate or
cause to be communicated any invitation or inducement to engage in investment
activity (within the meaning of section 21 of the Financial Services and Markets
Act 2000 (the "FSMA")) received by it in

connection with the issue or sale of any Notes in circumstances in which section
21(1) of the FSMA does not apply to the Issuer; and (ii) it has complied and
will comply with all applicable provisions of the FSMA with respect to anything
done by it in relation to the Notes in, from or otherwise involving the United
Kingdom.

     SECTION 10. Indemnification and Contribution. (a) Each of the Manager and
the Issuer will jointly and severally indemnify and hold harmless the Initial
Purchasers, their respective Affiliates, directors, officers, employees, agents,
representatives and the Person who controls (within the meaning of Section 15 of
the Act) the Initial Purchasers (collectively the "Initial Purchaser
Indemnitees") against any reasonable and documented losses, claims, damages or
other liabilities, costs and expenses (any losses, claims, damages, liabilities,
costs and expenses being referred to collectively as "Losses" and individually
as a "Loss") to which an Initial Purchaser Indemnitee may become subject,
insofar as any Losses (or claims, actions, suits or proceedings in respect
thereof) relate to, arise out of or are based upon:

          (i) any untrue statement or alleged untrue statement of any material
     fact contained in the Preliminary Offering Memorandum, the Offering
     Memorandum or any amendment of or supplement to any of the foregoing (x) to
     any investor (or potential investor) in any of the Notes or (y) to the
     Initial Purchasers for distribution to any investor (or potential investor)
     in any of the Notes, or

          (ii) the omission or alleged omission to state, in the Preliminary
     Offering Memorandum, the Offering Memorandum or any amendment of or
     supplement to any of the foregoing (x) to any investor (or potential
     investor) in any of the Notes or (y) to the Initial Purchasers for
     distribution to any investor (or potential investor) in any of the Notes, a
     material fact required to be stated therein or necessary to make the
     statements therein, in the light of the circumstances under which they were
     made, not misleading,

and in each case shall reimburse, as incurred, each Initial Purchaser Indemnitee
for any reasonable and documented legal or other reasonable and documented
out-of-pocket fees, charges or expenses, in each case, reasonably incurred by
such Initial Purchaser Indemnitee in connection with investigating, preparing,
defending against or appearing as a third-party witness in connection with any
Loss, litigation, claim, suit, proceeding or action, whether commenced or
threatened (any such litigation, claims, suits, proceedings, and actions being
referred to collectively as "Proceedings" and individually as a "Proceeding");
provided, however, that the Issuer shall not be liable in any case under this
Section 10 to the extent that any Loss (or claims, actions, suits or proceedings
in respect thereof) arises out of or is based upon any untrue statement or
alleged untrue statement in or omission or alleged omission from the Preliminary
Offering Memorandum or the Offering Memorandum or any amendment or supplement
thereto that, in the case of each of the foregoing, is made in reliance upon and
in conformity with the Initial Purchaser Information (as such term is defined in
Section 13(a)) or any written information provided to the Issuer by or on behalf
of FGIC for inclusion therein, such information being the information in the
Preliminary Offering Memorandum and in the Offering Memorandum under the heading
"The Series Enhancer" and the information in Annex F; provided, further,
however, that the foregoing indemnity agreement with respect to any Loss (or
claims, actions, suits or proceedings in respect thereof) shall not inure to the
benefit of any Initial Purchaser Indemnitee with respect to any Loss (or claims,
actions, suits or proceedings in respect

thereof) arising out of or based upon (x) any untrue statement or alleged untrue
statement of any material fact contained in the Preliminary Offering Memorandum
or the Offering Memorandum or any amendment of or supplement to any of the
foregoing, or (y) the omission or alleged omission to state in the Preliminary
Offering Memorandum or the Offering Memorandum or any amendment of or supplement
to any of the foregoing, a material fact required to be stated therein or
necessary to make the statements therein, in the light of the circumstances
under which they were made, not misleading, if: (1) the Issuer furnished
sufficient copies of the Offering Memorandum or any amendment thereof or
supplement thereto to on a timely basis to permit delivery of the Offering
Memorandum or any amendment thereof or supplement thereto to all Persons
purchasing notes from the Initial Purchasers in the initial resale of such notes
(such Persons "Initial Resale Purchasers") at or prior to the written
confirmation of the sale of the Notes to such Person; (2) the Initial Resale
Purchaser asserting such losses, claims, damages or liabilities purchased Notes
in the initial resale from the Initial Purchasers and a copy of the Offering
Memorandum or any amendment thereof or supplement thereto was not sent or given
by or on behalf of such Initial Purchaser to such Initial Resale Purchaser; and
(3) the Offering Memorandum or such amendment thereof or supplement thereto
would have cured the defect giving rise to such Loss (or claims, actions, suits
or proceedings in respect thereof).

     (b) Each Initial Purchaser agrees to severally indemnify and hold harmless
each of the Issuer, the Manager, their respective directors, officers,
employees, agents and representatives and each Person, if any, who controls
(within the meaning of Section 15 of the Act) the Issuer or the Manager against
any reasonable and documented Losses to which the Issuer, the Manager or any
other such indemnified party may become subject, insofar as the Losses (or
actions in respect thereof) arise out of or are based upon:

          (i) any untrue statement or alleged untrue statement of any material
     fact contained in the Preliminary Offering Memorandum or the Offering
     Memorandum or any amendment of or supplement to any of the foregoing to the
     extent, but only to the extent, that the untrue statement or alleged untrue
     statement was made in reliance upon and in conformity with the Initial
     Purchaser Information provided by such Initial Purchaser, or

          (ii) the omission or alleged omission to state in the Preliminary
     Offering Memorandum or the Offering Memorandum or any amendment of or
     supplement to any of the foregoing, a material fact required to be stated
     therein or necessary to make the statements therein, in the light of the
     circumstances under which they were made, not misleading, to the extent,
     but only to the extent, that the omission or alleged omission was made in
     reliance upon and in conformity with the Initial Purchaser Information
     provided by such Initial Purchaser,

and in each case shall reimburse, as incurred, each indemnified party for any
reasonable and documented legal or other out-of-pocket fees, charges or
expenses, in each case, reasonably incurred by such indemnified party in
connection with investigating, preparing, defending against or appearing as a
third-party witness in connection with any Loss or Proceeding, whether commenced
or threatened.

     (c) Notwithstanding any other provision of this Agreement, any Initial
Purchaser's indemnification obligations shall be limited in amount to the
aggregate of total compensation

received by it in connection with its duties as an Initial Purchaser of the
Notes, excluding any amounts received by such Initial Purchaser pursuant to
subsection (a) of this Section 10.

     (d) Promptly after receipt by an indemnified party under this Section 10 of
notice of the commencement of any Proceeding for which an indemnified party is
entitled to indemnification under this Section 10, the indemnified party shall,
if a claim in respect thereof is to be made against the indemnifying party under
this Section 10, notify the indemnifying party of the commencement thereof, but
the failure to so notify the indemnifying party shall not relieve it from any
liability under subsection (a) or (b) of this Section 10 (as applicable) unless
and except to the extent that the failure to notify results in the forfeiture by
the indemnifying party of substantial rights and defenses. If any Proceeding is
brought that involves any indemnified party, and it notifies the indemnifying
party of the commencement thereof, the indemnifying party shall be entitled to
participate therein and, to the extent that it may elect by written notice
delivered to the indemnified party after receiving the aforesaid notice from
such indemnified party, jointly with any other indemnifying party similarly
notified, to assume the defense thereof, with counsel reasonably satisfactory to
such indemnified party, and after notice from the indemnifying party to such
indemnified party, the indemnifying party will not be liable to such indemnified
party under this Section 10 for any legal or other expenses subsequently
incurred by such indemnified party in connection with the defense thereof other
than reasonable and documented costs of investigation. Notwithstanding the
foregoing, in no event shall an indemnifying party, in connection with any one
such Proceeding or separate but substantially similar or related Proceedings
arising out of the same general allegations or circumstances, be liable for the
fees and expenses of more than one separate firm of attorneys at any time for
all indemnified parties, together with any necessary local counsel. If the
indemnifying party assumes the defense of any Proceeding, the indemnified party
shall have the right to employ separate counsel therein, and to participate in
the defense thereof, but the fees and expenses of its counsel shall be borne
exclusively by the indemnified party without any right or entitlement to
reimbursement by an indemnifying party except as otherwise provided in the
preceding sentence and in the preceding paragraph. No indemnifying party shall,
without the prior written consent of the indemnified party, effect any
settlement of any pending or threatened action in respect of which any
indemnified party is or could have been a party and indemnity could have been
sought hereunder by such indemnified party unless such settlement includes (i)
an unconditional release of such indemnified party from all liability on any
claims that are the subject matter of such action and (ii) does not include a
statement as to or an admission of fault, culpability or failure to act by or on
behalf of any indemnified party.

     (e) In circumstances in which the indemnity agreement provided for in the
preceding subsections is unavailable or insufficient to hold harmless an
indemnified party in respect of any Losses or Proceedings, each indemnifying
party, in order to provide for just and equitable contribution, shall contribute
to the amount paid or payable by the indemnified party as a result of Losses or
Proceedings in such proportion as is appropriate to reflect (i) the relative
benefits received by the indemnifying party or parties on the one hand and the
indemnified party on the other from the offering of the Notes or (ii) if the
allocation provided by clause (i) is not permitted by Applicable Law, not only
such relative benefits but also the relative fault of the indemnifying party or
parties on the one hand and the indemnified party on the other in connection
with the statements or omissions or alleged statements or omissions that
resulted in Losses or Proceedings. It is the parties' intention that, to the
maximum extent permitted by Applicable

Law, (A) the relative benefits received by the Issuer on the one hand and the
Initial Purchasers on the other shall be deemed to be in the same proportion as
the total proceeds from the offering (before deducting expenses) of the Notes
bear to the total compensation received by the Initial Purchasers with respect
to the offering, and (B) the relative fault of the parties shall be determined
by reference to, among other things, whether the untrue or alleged untrue
statement of a material fact or the omission or alleged omission to state a
material fact relates to information supplied by the Issuer on the one hand, or
the Initial Purchasers on the other, the parties' relative intent, knowledge,
access to information and opportunity to correct or prevent such statement or
omission, and any other equitable considerations appropriate in the
circumstances.

     The Issuer and the Initial Purchasers agree that it would not be equitable
if the amount of contribution pursuant to this section were determined by pro
rata or per capita allocation or by any other method of allocation that does not
take into account the equitable considerations referred to in the preceding
paragraph. Notwithstanding any other provision of this Agreement, the Initial
Purchasers shall not be obligated to make contributions hereunder that in the
aggregate exceed the total compensation received by them in connection with its
duties as Initial Purchasers of the Notes, less the aggregate amount of any
damages that they otherwise have been required to pay by reason of the untrue or
alleged untrue statements, or the omissions or alleged omissions to state, a
material fact. No Person guilty of fraudulent misrepresentation (within the
meaning of Section 11(f) of the Act) shall be entitled to contribution from any
Person who was not guilty of such fraudulent misrepresentation. For purposes of
this subsection, each Affiliate, director, officer, employee, agent and
representative of an Initial Purchaser and the Person who controls an Initial
Purchaser (within the meaning of Section 15 of the Act) shall have the same
rights to contribution as such Initial Purchaser, and each Affiliate, director,
officer, employee, agent and representative of the Issuer and each Person who
controls the Issuer (within the meaning of Section 15 of the Act), shall have
the same rights to contribution as the Issuer.

     SECTION 11. Survival; Scope of Liability. The respective representations
(as of the date made), warranties (as of the date made), agreements, covenants,
indemnities and other statements of the Issuer, the Initial Purchasers and their
respective officers set forth in this Agreement or made by or on behalf of any
of them, respectively, pursuant to this Agreement shall remain in full force and
effect, regardless of (a) any investigation made by or on behalf of the Issuer
or the Initial Purchasers or any of their respective officers or directors, or
any controlling Person referred to in Section 10 and (b) delivery of and payment
for the Notes or resale thereof. The respective agreements, covenants,
indemnities and other statements set forth in this Section 11 and in Sections 7,
10, 14, 15, 17, 18, 19, 20, 21, 22, 23, and 25 shall remain in full force and
effect regardless of any termination or cancellation of this Agreement.

     SECTION 12. Termination. This Agreement may be terminated in the sole
discretion of the Initial Purchasers by notice to the Issuer given on or prior
to the Closing Date in the event that (A) any TAL Person shall have, in any
material respect, failed, refused or been unable to perform, all obligations on
its part to be performed hereunder at or prior thereto or (B) if, on or prior to
the Closing Date, there shall have occurred any of the events or conditions set
forth in Section 8(f) hereof.

     Termination of this Agreement pursuant to this Section 12 shall be without
liability of any party to any other party except that the Initial Purchasers
shall be entitled to any fees, costs and expenses payable, in each case in
accordance with Section 7.

     SECTION 13. Supplied Information. The Issuer acknowledges and agrees that
the information described in Schedule II hereto constitutes the only information
furnished by the Initial Purchasers to the Issuer for purposes of inclusion in
the Preliminary Offering Memorandum, the Offering Memorandum or any amendment or
supplement of or to any of the foregoing. "Initial Purchaser Information" means
the information described in Schedule II hereto, but only to the extent that
such information relates to the respective Initial Purchaser.

     SECTION 14. Notices. Unless otherwise provided herein, all notices required
under the terms and provisions hereof shall be in writing and either delivered
by hand, by mail or by facsimile, and any notice shall be effective when
received at the address or facsimile number (as applicable) specified below:

If to the Issuer:      c/o TAL International Container Corporation
                       100 Manhattanville Road
                       Purchase, New York 10577-2135
                       Attn: Chand Khan, Vice President and Chief
                       Financial Officer
                       Fax: 914-697-2526.

If to the Manager:     TAL International Container Corporation
                       100 Manhattanville Road
                       Purchase, New York 10577-2135
                       Attn: Chand Khan, Vice President and Chief
                       Financial Officer
                       Fax: 914-697-2526

If to Fortis:          Fortis Securities LLC
                       520 Madison Avenue
                       New York, NY 10022
                       Attention: Structured Credit
                       Fax: 646-282-4655

                       With a copy to:

                       Fortis Capital Corp.
                       Two Embarcadero Center, Suite 1330
                       San Francisco, CA 94111
                       Attention: Menno van Lacum
                       Fax: 415-283-3046

If to Credit Suisse:   Credit Suisse Securities (USA) LLC

                       Eleven Madison Avenue
                       New York, NY 10010
                       Attn: Legal and Compliance Department -
                       Asset Finance
                       Fax: 917-326-7974

or at such other address or facsimile number as any party may designate from
time to time by notice duly given to the other parties in accordance with the
terms of this section.

     SECTION 15. Successors. This Agreement shall inure to the benefit of and be
binding upon the Initial Purchasers, the Issuer, the Manager and their
respective successors and legal representatives. Nothing expressed or mentioned
in this Agreement is intended or shall be construed to give any Person, other
than the parties hereto, their respective successors and the controlling
Persons, Affiliates, directors, officers, employees, agents and representatives
referred to in Section 10 and their heirs and legal representatives, any legal
or equitable right, remedy or claim under or in respect of this Agreement or any
provision herein contained. This Agreement and all conditions and provisions
hereof are intended to be for the sole and exclusive benefit of the parties
hereto, their respective successors and such controlling Persons, Affiliates,
directors, officers, employees, agents and representatives and their heirs and
legal representatives, and for the benefit of no other Person. No purchaser of a
Note or a beneficial interest in a Note from the Initial Purchasers shall be
deemed a successor because of such purchase.

     SECTION 16. Counterparts. This Agreement may be executed in any number of
counterparts and by the different parties hereto in separate counterparts (which
may include facsimile), each of which when so executed shall be deemed to be an
original and all of which together shall constitute one and the same agreement.

     SECTION 17. Governing Law. THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF NEW YORK, INCLUDING SECTIONS 5-1401 OF THE GENERAL
OBLIGATIONS LAWS BUT OTHERWISE WITHOUT REFERENCE TO ITS CONFLICTS OF LAW
PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER
SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.

     SECTION 18. Submission to Jurisdiction. EACH PARTY HERETO HEREBY (A)
IRREVOCABLY SUBMITS TO THE NON-EXCLUSIVE JURISDICTION OF ANY NEW YORK STATE OR
FEDERAL COURT SITTING IN THE BOROUGH OF MANHATTAN IN THE COUNTY OF NEW YORK, NEW
YORK OVER ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT,
(B) IRREVOCABLY AGREES THAT ALL CLAIMS IN RESPECT OF SUCH ACTION OR PROCEEDING
MAY BE HEARD AND DETERMINED IN SUCH STATE OR FEDERAL COURT, AND (C) IRREVOCABLY
WAIVES, TO THE FULLEST EXTENT IT MAY EFFECTIVELY DO SO, THE DEFENSE OF AN
INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING. EACH PARTY
IRREVOCABLY CONSENTS TO THE SERVICE OF ANY AND ALL PROCESS IN ANY ACTION OR
PROCEEDING BY THE MAILING OF COPIES OF THE PROCESS TO SUCH PARTY AT ITS ADDRESS

SPECIFIED HEREIN. NOTHING IN THIS SECTION SHALL AFFECT THE RIGHT OF ANY PARTY
HERETO TO SERVE LEGAL PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR AFFECT THE
RIGHT OF ANY PARTY HERETO TO BRING ANY ACTION OR PROCEEDING AGAINST ANY OR ALL
OF THE OTHER PARTIES HERETO OR ANY OF THEIR RESPECTIVE PROPERTIES IN THE COURTS
OF ANY OTHER JURISDICTION.

     SECTION 19. Waiver of Jury Trial. EACH PARTY HERETO WAIVES ANY RIGHT TO A
TRIAL BY JURY IN ANY ACTION OR PROCEEDING TO ENFORCE OR DEFEND ANY RIGHTS UNDER
OR RELATING TO THIS AGREEMENT OR ANY OTHER TRANSACTION DOCUMENTS OR ANY
AMENDMENT, INSTRUMENT, DOCUMENT OR AGREEMENT DELIVERED OR THAT MAY IN THE FUTURE
BE DELIVERED IN CONNECTION THEREWITH OR ARISING FROM ANY COURSE OF CONDUCT,
COURSE OF DEALING, STATEMENTS (WHETHER VERBAL OR WRITTEN), ACTIONS OF ANY OF THE
PARTIES HERETO OR ANY OTHER RELATIONSHIP EXISTING IN CONNECTION WITH THIS
AGREEMENT OR ANY OTHER TRANSACTION DOCUMENTS, AND AGREES THAT ANY SUCH ACTION OR
PROCEEDING SHALL BE TRIED BEFORE A COURT AND NOT BEFORE A JURY.

     SECTION 20. Negotiations. This Agreement and the other Series 2006-1
Transaction Documents are the result of negotiations among the parties hereto,
and have been reviewed by the respective counsel to the parties hereto, and are
the products of all parties hereto. Accordingly, this Agreement and the other
Series 2006-1 Transaction Documents shall not be construed against the Initial
Purchasers merely because of the Initial Purchasers' involvement in the
preparation of this Agreement and the other Series 2006-1 Transaction Documents.

     SECTION 21. Amendments, Etc. This Agreement may be amended, restated or
otherwise modified or waived at any time but only upon the written consent of
each of the parties hereto.

     SECTION 22. Severability of Provisions. If any one or more of the
agreements, provisions or terms of this Agreement shall for any reason
whatsoever be held invalid, then the unenforceable agreements, provisions or
terms shall be deemed severable from the remaining agreements, provisions or
terms of this Agreement and shall in no way affect the validity or
enforceability of the other agreements, provisions or terms of this Agreement.

     SECTION 23. No Waiver; Cumulative Remedies. No failure to exercise and no
delay in exercising, on the part of any party hereto, any right, remedy, power
or privilege hereunder shall operate as a waiver thereof; nor shall any single
or partial exercise of any right, remedy, power or privilege hereunder preclude
any other or further exercise thereof or the exercise of any other right,
remedy, power or privilege. Except as otherwise provided in this Agreement, the
rights, remedies, powers and privileges herein provided are cumulative and are
not exhaustive of any rights, remedies, powers and privileges provided by law.

     SECTION 24. Integration. This Agreement contains a final and complete
integration of all prior expressions by the parties hereto with respect to the
subject matter hereof and shall

constitute the entire agreement among the parties hereto with respect to the
subject matter hereof and thereof, superseding all prior oral or written
understandings.

     SECTION 25. Nonpetition Covenant. Notwithstanding any prior termination of
this Agreement, each Initial Purchaser agrees that it shall not, with respect to
the Issuer, institute or join any other Person in instituting any proceeding of
the type referred to in the definition of "Bankruptcy Event" against or with
respect to the Issuer or so long as any Notes issued by the Issuer shall be
outstanding and there shall not have elapsed one year plus one day since the
last day on which any such Notes shall have been Outstanding and all other
obligations of the Issuer under the Series 2006-1 Transaction Documents have
been paid in full. The foregoing shall not limit the right of any such Person to
file any claim in or otherwise take any action with respect to any such
proceeding that was instituted against Issuer by any Person other than the
Initial Purchasers. In addition, each Initial Purchaser agrees that all amounts
owed to it by Issuer shall be payable solely from amounts that become available
for such payment pursuant to the Series 2006-1 Transaction Documents, and no
such amounts shall constitute a claim against Issuer to the extent that they are
in excess of the amounts available for their payment.

     "Bankruptcy Event" means, for any Person, any of the following events:

     (a) a case or other proceeding shall be commenced, without the application
or consent of such Person, in any court, seeking the liquidation,
reorganization, debt arrangement, dissolution, winding up or composition or
readjustment of debts of such Person, the appointment of a trustee, receiver,
custodian, liquidator, assignee, sequestrator or the like for such Person or any
substantial part of its assets, or any similar action with respect to such
Person under any law relating to bankruptcy, insolvency, reorganization, winding
up or composition or adjustment of debts, and such case or proceeding shall
continue undismissed, or unstayed and in effect, for a period of 60 days; or any
order for relief in respect of such Person shall be entered in an involuntary
case under the federal bankruptcy laws or other similar laws now or hereafter in
effect, or

     (b) such Person shall commence a voluntary case or other proceeding under
any applicable bankruptcy, insolvency, reorganization, debt arrangement,
dissolution or other similar law now or hereafter in effect, or shall consent to
the appointment of or taking possession by a receiver, liquidator, assignee,
trustee, custodian, sequestrator or the like, for such Person or any substantial
part of its property, or shall make any general assignment for the benefit of
creditors, or shall fail to, or admit in writing its inability to, pay its debts
generally as they become due.

                            [Signature page follows.]

If the foregoing correctly sets forth our understanding, please indicate your
acceptance thereof in the space provided below for that purpose, whereupon this
Agreement shall constitute a binding agreement between the Issuer and the
Initial Purchasers.

                                        Very truly yours,

                                        TAL ADVANTAGE I LLC

                                        By: TAL International Container
                                            Corporation, its manager

                                        By:
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                               ---------------------------------

                                        TAL INTERNATIONAL CONTAINER CORPORATION

                                        By:
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                               ---------------------------------

NPA SERIES 2006-1

Accepted and agreed to as of
the date first above written:

FORTIS SECURITIES LLC

By:
    ------------------------------------
    Authorized Signatory

Name:
      ----------------------------------
Title:
       ---------------------------------

By:
    ------------------------------------
    Authorized Signatory

Name:
      ----------------------------------
Title:
       ---------------------------------

NPA SERIES 2006-1

CREDIT SUISSE SECURITIES (USA) LLC

By:
    ------------------------------------
    Authorized Signatory

Name:
      ----------------------------------
Title:
       ---------------------------------

NPA SERIES 2006-1

                                TABLE OF CONTENTS

                                                                            PAGE

                                                                      SCHEDULE I
                                      to Note Purchase Agreement (Series 2006-1)

        Initial Purchasers           Principal Amount of Notes
----------------------------------   -------------------------
       Fortis Securities LLC                $340,000,000
Credit Suisse Securities (USA) LLC          $340,000,000

                                TABLE OF CONTENTS

                                                                            PAGE

                                                                     SCHEDULE II
                                      to Note Purchase Agreement (Series 2006-1)

A. The information contained in the first, second, fifth, eighth, tenth,
eleventh and twelfth paragraphs and the third and fourth sentences of the
seventh paragraph under the heading "PLAN OF DISTRIBUTION" and the information
contained under the heading "GENERAL INFORMATION" in the Offering Memorandum.

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