Document:

EX-10.2

 

Exhibit 10.2

(Multicurrency – Cross Border)

ISDA®

International Swap Dealers Association, Inc.

MASTER AGREEMENT

dated as of February 21, 2008

	 	 	 	 	 
	GOLDMAN SACHS MITSUI MARINE 

DERIVATIVE PRODUCTS, L.P.
	 	and
	 	DAIMLERCHRYSLER AUTO TRUST 2008-A
	“Party A”
	 	 	 	“Party B”

have entered and/or anticipate entering into one or more transactions (each a “Transaction”) that
are or will be governed by this Master Agreement, which includes the schedule (the “Schedule”), and
the documents and other confirming evidence (each a “Confirmation”) exchanged between the parties
confirming those Transactions.

Accordingly, the parties agree as follows: —

1. Interpretation

(a) Definitions. The terms defined in Section 14 and in the Schedule will have the meanings
therein specified for the purpose of this Master Agreement.

(b) Inconsistency. In the event of any inconsistency between the provisions of the Schedule and
the other provisions of this Master Agreement, the Schedule will prevail. In the event of any
inconsistency between the provisions of any Confirmation and this Master Agreement (including the
Schedule), such Confirmation will prevail for the purpose of the relevant Transaction.

(c) Single Agreement. All Transactions are entered into in reliance on the fact that this Master
Agreement and all Confirmations form a single agreement between the parties (collectively referred
to as this “Agreement”), and the parties would not otherwise enter into any Transactions.

2. Obligations

(a) General Conditions.

(i) Each party will make each payment or delivery specified in each Confirmation to be made
by it, subject to the other provisions of this Agreement.

(ii) Payments under this Agreement will be made on the due date for value on that date in
the place of the account specified in the relevant Confirmation or otherwise pursuant to
this Agreement, in freely transferable funds and in the manner customary for payments in the
required currency. Where settlement is by delivery (that is, other than by payment), such
delivery will be made for receipt on the due date in the manner customary for the relevant
obligation unless otherwise specified in the relevant Confirmation or elsewhere in this
Agreement.

(iii) Each obligation of each party under Section 2(a)(i) is subject to (1) the condition
precedent that no Event of Default or Potential Event of Default with respect to the other
party has occurred and is continuing, (2) the condition precedent that no Early Termination
Date in respect of the relevant Transaction has occurred or been effectively designated and
(3) each other applicable condition precedent specified in this Agreement.

Copyright © 1992 by International Swap Dealers Association, Inc.

 

 

(b) Change of Account. Either party may change its account for receiving a payment or delivery by
giving notice to the other party at least five Local Business Days prior to the scheduled date for
the payment or delivery to which such change applies unless such other party gives timely notice of
a reasonable objection to such change.

(c) Netting. If on any date amounts would otherwise be payable: —

	 	(i)	 	in the same currency; and
	 
	 	(ii)	 	in respect of the same Transaction,

by each party to the other, then, on such date, each party’s obligation to make payment of any such
amount will be automatically satisfied and discharged and, if the aggregate amount that would
otherwise have been payable by one party exceeds the aggregate amount that would otherwise have
been payable by the other party, replaced by an obligation upon the party by whom the larger
aggregate amount would have been payable to pay to the other party the excess of the larger
aggregate amount over the smaller aggregate amount.

The parties may elect in respect of two or more Transactions that a net amount will be determined
in respect of all amounts payable on the same date in the same currency in respect of such
Transactions, regardless of whether such amounts are payable in respect of the same Transaction.
The election may be made in the Schedule or a Confirmation by specifying that subparagraph (ii)
above will not apply to the Transactions identified as being subject to the election, together with
the starting date (in which case subparagraph (ii) above will not, or will cease to, apply to such
Transactions from such date). This election may be made separately for different groups of
Transactions and will apply separately to each pairing of Offices through which the parties make
and receive payments or deliveries.

(d) Deduction or Withholding for Tax.

(i) Gross-Up. All payments under this Agreement will be made without any deduction or
withholding for or on account of any Tax unless such deduction or withholding is required by
any applicable law, as modified by the practice of any relevant governmental revenue
authority, then in effect. If a party is so required to deduct or withhold, then that party
(“X”) will: —

(1) promptly notify the other party (“Y”) of such requirement;

(2) pay to the relevant authorities the full amount required to be deducted or
withheld (including the full amount required to be deducted or withheld from any
additional amount paid by X to Y under this Section 2(d)) promptly upon the earlier
of determining that such deduction or withholding is required or receiving notice
that such amount has been assessed against Y;

(3) promptly forward to Y an official receipt (or a certified copy), or other
documentation reasonably acceptable to Y, evidencing such payment to such
authorities; and

(4) if such Tax is an Indemnifiable Tax, pay to Y, in addition to the payment to
which Y is otherwise entitled under this Agreement, such additional amount as is
necessary to ensure that the net amount actually received by Y (free and clear of
Indemnifiable Taxes, whether assessed against X or Y) will equal the full amount Y
would have received had no such deduction or withholding been required. However, X
will not be required to pay any additional amount to Y to the extent that it would
not be required to be paid but for: —

(A) the failure by Y to comply with or perform any agreement contained in
Section 4(a)(i), 4(a)(iii) or 4(d); or

(B) the failure of a representation made by Y pursuant to Section 3(f) to be
accurate and true unless such failure would not have occurred but for (I)
any action taken by a taxing authority, or brought in a court of competent
jurisdiction, on or after the date on which a Transaction is entered into
(regardless of whether such action is taken or brought with respect to a
party to this Agreement) or (II) a Change in Tax Law.

ISDA® 1992

 

 

	 	(ii)	 	Liability. If: —

(1) X is required by any applicable law, as modified by the practice of any relevant
governmental revenue authority, to make any deduction or withholding in respect of
which X would not be required to pay an additional amount to Y under Section
2(d)(i)(4);

(2) X does not so deduct or withhold; and

(3) a liability resulting from such Tax is assessed directly against X,

then, except to the extent Y has satisfied or then satisfies the liability resulting from
such Tax, Y will promptly pay to X the amount of such liability (including any related
liability for interest, but including any related liability for penalties only if Y has
failed to comply with or perform any agreement contained in Section 4(a)(i), 4(a)(iii) or
4(d)).

(e) Default Interest; Other Amounts. Prior to the occurrence or effective designation of an Early
Termination Date in respect of the relevant Transaction, a party that defaults in the performance
of any payment obligation will, to the extent permitted by law and subject to Section 6(c), be
required to pay interest (before as well as after judgment) on the overdue amount to the other
party on demand in the same currency as such overdue amount, for the period from (and including)
the original due date for payment to (but excluding) the date of actual payment, at the Default
Rate. Such interest will be calculated on the basis of daily compounding and the actual number of
days elapsed. If, prior to the occurrence or effective designation of an Early Termination Date in
respect of the relevant Transaction, a party defaults in the performance of any obligation required
to be settled by delivery, it will compensate the other party on demand if and to the extent
provided for in the relevant Confirmation or elsewhere in this Agreement.

3. Representations

Each party represents to the other party (which representations will be deemed to be repeated by
each party on each date on which a Transaction is entered into and, in the case of the
representations in Section 3(f), at all times until the termination of this Agreement) that: —

(a) Basic Representations.

(i) Status. It is duly organised and validly existing under the laws of the jurisdiction of
its organisation or incorporation and, if relevant under such laws, in good standing;

(ii) Powers. It has the power to execute this Agreement and any other documentation
relating to this Agreement to which it is a party, to deliver this Agreement and any other
documentation relating to this Agreement that it is required by this Agreement to deliver
and to perform its obligations under this Agreement and any obligations it has under any
Credit Support Document to which it is a party and has taken all necessary action to
authorise such execution, delivery and performance;

(iii) No Violation or Conflict. Such execution, delivery and performance do not violate or
conflict with any law applicable to it, any provision of its constitutional documents, any
order or judgment of any court or other agency of government applicable to it or any of its
assets or any contractual restriction binding on or affecting it or any of its assets;

(iv) Consents. All governmental and other consents that are required to have been obtained
by it with respect to this Agreement or any Credit Support Document to which it is a party
have been obtained and are in full force and effect and all conditions of any such consents
have been complied with; and

(v) Obligations Binding. Its obligations under this Agreement and any Credit Support
Document to which it is a party constitute its legal, valid and binding obligations,
enforceable in accordance with their respective terms (subject to applicable bankruptcy,
reorganisation, insolvency, moratorium or similar laws affecting creditors’ rights generally
and subject, as to enforceability, to equitable principles of general application
(regardless of whether enforcement is sought in a proceeding in equity or at law)).

ISDA® 1992

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(b) Absence of Certain Events. No Event of Default or Potential Event of Default or, to its
knowledge, Termination Event with respect to it has occurred and is continuing and no such event or
circumstance would occur as a result of its entering into or performing its obligations under this
Agreement or any Credit Support Document to which it is a party.

(c) Absence of Litigation. There is not pending or, to its knowledge, threatened against it or any
of its Affiliates any action, suit or proceeding at law or in equity or before any court, tribunal,
governmental body, agency or official or any arbitrator that is likely to affect the legality,
validity or enforceability against it of this Agreement or any Credit Support Document to which it
is a party or its ability to perform its obligations under this Agreement or such Credit Support
Document.

(d) Accuracy of Specified Information. All applicable information that is furnished in writing by
or on behalf of it to the other party and is identified for the purpose of this Section 3(d) in the
Schedule is, as of the date of the information, true, accurate and complete in every material
respect.

(e) Payer Tax Representation. Each representation specified in the Schedule as being made by it
for the purpose of this Section 3(e) is accurate and true.

(f) Payee Tax Representations. Each representation specified in the Schedule as being made by it
for the purpose of this Section 3(f) is accurate and true.

4. Agreements

Each party agrees with the other that, so long as either party has or may have any obligation under
this Agreement or under any Credit Support Document to which it is a party: —

(a) Furnish Specified Information. It will deliver to the other party or, in certain cases under
subparagraph (iii) below, to such government or taxing authority as the other party reasonably
directs: —

(i) any forms, documents or certificates relating to taxation specified in the Schedule or
any Confirmation;

(ii) any other documents specified in the Schedule or any Confirmation; and

(iii) upon reasonable demand by such other party, any form or document that may be required
or reasonably requested in writing in order to allow such other party or its Credit Support
Provider to make a payment under this Agreement or any applicable Credit Support Document
without any deduction or withholding for or on account of any Tax or with such deduction or
withholding at a reduced rate (so long as the completion, execution or submission of such
form or document would not materially prejudice the legal or commercial position of the
party in receipt of such demand), with any such form or document to be accurate and
completed in a manner reasonably satisfactory to such other party and to be executed and to
be delivered with any reasonably required certification,

in each case by the date specified in the Schedule or such Confirmation or, if none is specified,
as soon as reasonably practicable.

(b) Maintain Authorisations. It will use all reasonable efforts to maintain in full force and
effect all consents of any governmental or other authority that are required to be obtained by it
with respect to this Agreement or any Credit Support Document to which it is a party and will use
all reasonable efforts to obtain any that may become necessary in the future.

(c) Comply with Laws. It will comply in all material respects with all applicable laws and orders
to which it may be subject if failure so to comply would materially impair its ability to perform
its obligations under this Agreement or any Credit Support Document to which it is a party.

(d) Tax Agreement. It will give notice of any failure of a representation made by it under Section
3(f) to be accurate and true promptly upon learning of such failure.

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(e) Payment of Stamp Tax. Subject to Section 11, it will pay any Stamp Tax levied or imposed upon
it or in respect of its execution or performance of this Agreement by a jurisdiction in which it is
incorporated, organised, managed and controlled, or considered to have its seat, or in which a
branch or office through which it is acting for the purpose of this Agreement is located (“Stamp
Tax Jurisdiction”) and will indemnify the other party against any Stamp Tax levied or imposed upon
the other party or in respect of the other party’s execution or performance of this Agreement by
any such Stamp Tax Jurisdiction which is not also a Stamp Tax Jurisdiction with respect to the
other party.

5. Events or Default and Termination Events

(a) Events of Default. The occurrence at any time with respect to a party or, if applicable, any
Credit Support Provider of such party or any Specified Entity of such party of any of the following
events constitutes an event of default (an “Event of Default”) with respect to such 
party: —

(i) Failure to Pay or Deliver. Failure by the party to make, when due, any payment under
this Agreement or delivery under Section 2(a)(i) or 2(e) required to be made by it if such
failure is not remedied on or before the third Local Business Day after notice of such
failure is given to the party;

(ii) Breach of Agreement. Failure by the party to comply with or perform any agreement or
obligation (other than an obligation to make any payment under this Agreement or delivery
under Section 2(a)(i) or 2(e) or to give notice of a Termination Event or any agreement or
obligation under Section 4(a)(i), 4(a)(iii) or 4(d)) to be complied with or performed by the
party in accordance with this Agreement if such failure is not remedied on or before the
thirtieth day after notice of such failure is given to the party;

(iii) Credit Support Default.

(1) Failure by the party or any Credit Support Provider of such party to comply with
or perform any agreement or obligation to be complied with or performed by it in
accordance with any Credit Support Document if such failure is continuing after any
applicable grace period has elapsed;

(2) the expiration or termination of such Credit Support Document or the failing or
ceasing of such Credit Support Document to be in full force and effect for the
purpose of this Agreement (in either case other than in accordance with its terms)
prior to the satisfaction of all obligations of such party under each Transaction to
which such Credit Support Document relates without the written consent of the other
party; or

(3) the party or such Credit Support Provider disaffirms, disclaims, repudiates or
rejects, in whole or in part, or challenges the validity of, such Credit Support
Document;

(iv) Misrepresentation. A representation (other than a representation under Section 3(e) or
(f)) made or repeated or deemed to have been made or repeated by the party or any Credit
Support Provider of such party in this Agreement or any Credit Support Document proves to
have been incorrect or misleading in any material respect when made or repeated or deemed to
have been made or repeated;

(v) Default under Specified Transaction. The party, any Credit Support Provider of such
party or any applicable Specified Entity of such party (1) defaults under a Specified
Transaction and, after giving effect to any applicable notice requirement or grace period,
there occurs a liquidation of, an acceleration of obligations under, or an early termination
of, that Specified Transaction, (2) defaults, after giving effect to any applicable notice
requirement or grace period, in making any payment or delivery due on the last payment,
delivery or exchange date of, or any payment on early termination of, a Specified
Transaction (or such default continues for at least three Local Business Days if there is no
applicable notice requirement or grace period) or (3) disaffirms, disclaims, repudiates or
rejects, in whole or in part, a Specified Transaction (or such action is taken by any person
or entity appointed or empowered to operate it or act on its behalf);

(vi) Cross Default. If “Cross Default” is specified in the Schedule as applying to the
party, the occurrence or existence of (1) a default, event of default or other similar
condition or event (however described) in respect of such party, any Credit Support Provider
of such party or any applicable Specified

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Entity of such party under one or more agreements or instruments relating to Specified
Indebtedness of any of them (individually or collectively) in an aggregate amount of not
less than the applicable Threshold Amount (as specified in the Schedule) which has resulted
in such Specified Indebtedness becoming, or becoming capable at such time of being declared,
due and payable under such agreements or instruments, before it would otherwise have been
due and payable or (2) a default by such party, such Credit Support Provider or such
Specified Entity (individually or collectively) in making one or more payments on the due
date thereof in an aggregate amount of not less than the applicable Threshold Amount under
such agreements or instruments (after giving effect to any applicable notice requirement or
grace period);

(vii) Bankruptcy. The party, any Credit Support Provider of such party or any applicable
Specified Entity of such party:–

(1) is dissolved (other than pursuant to a consolidation, amalgamation or merger);
(2) becomes insolvent or is unable to pay its debts or fails or admits in writing
its inability generally to pay its debts as they become due; (3) makes a general
assignment, arrangement or composition with or for the benefit of its creditors; (4)
institutes or has instituted against it a proceeding seeking a judgment of
insolvency or bankruptcy or any other relief under any bankruptcy or insolvency law
or other similar law affecting creditors’ rights, or a petition is presented for its
winding-up or liquidation, and, in the case of any such proceeding or petition
instituted or presented against it, such proceeding or petition (A) results in a
judgment of insolvency or bankruptcy or the entry of an order for relief or the
making of an order for its winding-up or liquidation or (B) is not dismissed,
discharged, stayed or restrained in each case within 30 days of the institution or
presentation thereof; (5) has a resolution passed for its winding-up, official
management or liquidation (other than pursuant to a consolidation, amalgamation or
merger); (6) seeks or becomes subject to the appointment of an administrator,
provisional liquidator, conservator, receiver, trustee, custodian or other similar
official for it or for all or substantially all its assets; (7) has a secured party
take possession of all or substantially all its assets or has a distress, execution,
attachment, sequestration or other legal process levied, enforced or sued on or
against all or substantially all its assets and such secured party maintains
possession, or any such process is not dismissed, discharged, stayed or restrained,
in each case within 30 days thereafter; (8) causes or is subject to any event with
respect to it which, under the applicable laws of any jurisdiction, has an analogous
effect to any of the events specified in clauses (1) to (7) (inclusive); or (9)
takes any action in furtherance of, or indicating its consent to, approval of, or
acquiescence in, any of the foregoing acts; or

(viii) Merger Without Assumption. The party or any Credit Support Provider of such party
consolidates or amalgamates with, or merges with or into, or transfers all or substantially
all its assets to, another entity and, at the time of such consolidation, amalgamation,
merger or transfer: –

(1) the resulting, surviving or transferee entity fails to assume all the
obligations of such party or such Credit Support Provider under this Agreement or
any Credit Support Document to which it or its predecessor was a party by operation
of law or pursuant to an agreement reasonably satisfactory to the other party to
this Agreement; or

(2) the benefits of any Credit Support Document fail to extend (without the consent
of the other party) to the performance by such resulting, surviving or transferee
entity of its obligations under this Agreement.

(b) Termination Events. The occurrence at any time with respect to a party or, if applicable, any
Credit Support Provider of such party or any Specified Entity of such party of any event specified
below constitutes an Illegality if the event is specified in (i) below, a Tax Event if the event is
specified in (ii) below or a Tax Event Upon Merger if the event is specified in (iii) below, and,
if specified to be applicable, a Credit Event Upon Merger if the event is specified pursuant to
(iv) below or an Additional Termination Event if the event is specified pursuant to (v) below:—

(i) Illegality. Due to the adoption of, or any change in, any applicable law after the date
on which a Transaction is entered into, or due to the promulgation of, or any change in, the
interpretation by any court, tribunal or regulatory authority with competent jurisdiction of
any applicable law after such date. it

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becomes unlawful (other than as a result of a breach by the party of Section 4(b)) for such
party (which will be the Affected Party):—

(1) to perform any absolute or contingent obligation to make a payment or delivery
or to receive a payment or delivery in respect of such Transaction or to comply with
any other material provision of this Agreement relating to such Transaction; or

(2) to perform, or for any Credit Support Provider of such party to perform, any
contingent or other obligation which the party (or such Credit Support Provider) has
under any Credit Support Document relating to such Transaction;

(ii) Tax Event. Due to (x) any action taken by a taxing authority, or brought in a court of
competent jurisdiction, on or after the date on which a Transaction is entered into
(regardless of whether such action is taken or brought with respect to a party to this
Agreement) or (y) a Change in Tax Law, the party (which will be the Affected Party) will, or
there is a substantial likelihood that it will, on the next succeeding Scheduled Payment
Date (1) be required to pay to the other party an additional amount in respect of an
Indemnifiable Tax under Section 2(d)(i)(4) (except in respect of interest under Section
2(e), 6(d)(ii) or 6(e)) or (2) receive a payment from which an amount is required to be
deducted or withheld for or on account of a Tax (except in respect of interest under Section
2(e), 6(d)(ii) or 6(e)) and no additional amount is required to be paid in respect of such
Tax under Section 2(d)(i)(4) (other than by reason of Section 2(d)(i)(4)(A) or (B));

(iii) Tax Event Upon Merger. The party (the “Burdened Party”) on the next succeeding
Scheduled Payment Date will either (1) be required to pay an additional amount in respect of
an Indemnifiable Tax under Section 2(d)(i)(4) (except in respect of interest under Section
2(e), 6(d)(ii) or 6(e)) or (2) receive a payment from which an amount has been deducted or
withheld for or on account of any Indemnifiable Tax in respect of which the other party is
not required to pay an additional amount (other than by reason of Section 2(d)(i)(4)(A) or
(B)), in either case as a result of a party consolidating or amalgamating with, or merging
with or into, or transferring all or substantially all its assets to, another entity (which
will be the Affected Party) where such action does not constitute an event described in
Section 5(a)(viii);

(iv) Credit Event Upon Merger. If “Credit Event Upon Merger” is specified in the Schedule
as applying to the party, such party (“X”), any Credit Support Provider of X or any
applicable Specified Entity of X consolidates or amalgamates with, or merges with or into,
or transfers all or substantially all its assets to, another entity and such action does not
constitute an event described in Section 5(a)(viii) but the creditworthiness of the
resulting, surviving or transferee entity is materially weaker than that of X, such Credit
Support Provider or such Specified Entity, as the case may be, immediately prior to such
action (and, in such event, X or its successor or transferee, as appropriate, will be the
Affected Party); or

(v) Additional Termination Event. If any “Additional Termination Event” is specified in the
Schedule or any Confirmation as applying, the occurrence of such event (and, in such event,
the Affected Party or Affected Parties shall be as specified for such Additional Termination
Event in the Schedule or such Confirmation).

(c) Event of Default and Illegality. If an event or circumstance which would otherwise constitute
or give rise to an Event of Default also constitutes an Illegality, it will be treated as an
Illegality and will not constitute an Event of Default.

6. Early Termination

(a) Right to Terminate Following Event of Default. If at any time an Event of Default with respect
to a party (the “Defaulting Party”) has occurred and is then continuing, the other party (the
“Non-defaulting Party”) may, by not more than 20 days notice to the Defaulting Party specifying the
relevant Event of Default, designate a day not earlier than the day such notice is effective as an
Early Termination Date in respect of all outstanding Transactions. If, however, “Automatic Early
Termination” is specified in the Schedule as applying to a party, then an Early Termination Date in
respect of all outstanding Transactions will occur immediately upon the occurrence with respect to
such party of an Event of Default specified in Section 5(a)(vii)(l), (3), (5), (6) or, to the
extent analogous thereto,

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(8), and as of the time immediately preceding the institution of the relevant proceeding or the
presentation of the relevant petition upon the occurrence with respect to such party of an Event of
Default specified in Section 5(a)(vii)(4) or, to the extent analogous thereto, (8).

(b) Right to Terminate Following Termination Event.

(i) Notice. If a Termination Event occurs, an Affected Party will, promptly upon becoming
aware of it, notify the other party, specifying the nature of that Termination Event and
each Affected Transaction and will also give such other information about that Termination
Event as the other party may reasonably require.

(ii) Transfer to Avoid Termination Event. If either an Illegality under Section 5(b)(i)(1)
or a Tax Event occurs and there is only one Affected Party, or if a Tax Event Upon Merger
occurs and the Burdened Party is the Affected Party, the Affected Party will, as a condition
to its right to designate an Early Termination Date under Section 6(b)(iv), use all
reasonable efforts (which will not require such party to incur a loss, excluding immaterial,
incidental expenses) to transfer within 20 days after it gives notice under Section 6(b)(i)
all its rights and obligations under this Agreement in respect of the Affected Transactions
to another of its Offices or Affiliates so that such Termination Event ceases to exist.

If the Affected Party is not able to make such a transfer it will give notice to the other
party to that effect within such 20 day period, whereupon the other party may effect such a
transfer within 30 days after the notice is given under Section 6(b)(i).

Any such transfer by a party under this Section 6(b)(ii) will be subject to and conditional
upon the prior written consent of the other party, which consent will not be withheld if
such other party’s policies in effect at such time would permit it to enter into
transactions with the transferee on the terms proposed.

(iii) Two Affected Parties. If an Illegality under Section 5(b)(i)(1) or a Tax Event occurs
and there are two Affected Parties, each party will use all reasonable efforts to reach
agreement within 30 days after notice thereof is given under Section 6(b)(i) on action to
avoid that Termination Event.

(iv) Right to Terminate. If:—

(1) a transfer under Section 6(b)(ii) or an agreement under Section 6(b)(iii), as
the case may be, has not been effected with respect to all Affected Transactions
within 30 days after an Affected Party gives notice under Section 6(b)(i); or

(2) an Illegality under Section 5(b)(i)(2), a Credit Event Upon Merger or an
Additional Termination Event occurs, or a Tax Event Upon Merger occurs and the
Burdened Party is not the Affected Party,

either party in the case of an Illegality, the Burdened Party in the case of a Tax Event
Upon Merger, any Affected Party in the case of a Tax Event or an Additional Termination
Event if there is more than one Affected Party, or the party which is not the Affected Party
in the case of a Credit Event Upon Merger or an Additional Termination Event if there is
only one Affected Party may, by not more than 20 days notice to the other party and provided
that the relevant Termination Event is then continuing, designate a day not earlier than the
day such notice is effective as an Early Termination Date in respect of all Affected
Transactions.

(c) Effect of Designation.

(i) If notice designating an Early Termination Date is given under Section 6(a) or (b), the
Early Termination Date will occur on the date so designated, whether or not the relevant
Event of Default or Termination Event is then continuing.

(ii) Upon the occurrence or effective designation of an Early Termination Date, no further
payments or deliveries under Section 2(a)(i) or 2(e) in respect of the Terminated
Transactions will be required to be

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made, but without prejudice to the other provisions of this Agreement. The amount, if any,
payable in respect of an Early Termination Date shall be determined pursuant to Section
6(e).

(d) Calculations.

(i) Statement. On or as soon as reasonably practicable following the occurrence of an Early
Termination Date, each party will make the calculations on its part, if any, contemplated by
Section 6(e) and will provide to the other party a statement (1) showing, in reasonable
detail, such calculations (including all relevant quotations and specifying any amount
payable under Section 6(e)) and (2) giving details of the relevant account to which any
amount payable to it is to be paid. In the absence of written confirmation from the source
of a quotation obtained in determining a Market Quotation, the records of the party
obtaining such quotation will be conclusive evidence of the existence and accuracy of such
quotation.

(ii) Payment Date. An amount calculated as being due in respect of any Early Termination
Date under Section 6(e) will be payable on the day that notice of the amount payable is
effective (in the case of an Early Termination Date which is designated or occurs as a
result of an Event of Default) and on the day which is two Local Business Days after the day
on which notice of the amount payable is effective (in the case of an Early Termination Date
which is designated as a result of a Termination Event). Such amount will be paid together
with (to the extent permitted under applicable law) interest thereon (before as well as
after judgment) in the Termination Currency, from (and including) the relevant Early
Termination Date to (but excluding) the date such amount is paid, at the Applicable Rate.
Such interest will be calculated on the basis of daily compounding and the actual number of
days elapsed.

(e) Payments on Early Termination. If an Early Termination Date occurs, the following provisions
shall apply based on the parties’ election in the Schedule of a payment measure, either “Market
Quotation” or “Loss”, and a payment method, either the “First Method” or the “Second Method”. If
the parties fail to designate a payment measure or payment method in the Schedule, it will be
deemed that “Market Quotation” or the “Second Method”, as the case may be, shall apply. The
amount, if any, payable in respect of an Early Termination Date and determined pursuant to this
Section will be subject to any Set-off.

(i) Events of Default. If the Early Termination Date results from an Event of Default:—

(1) First Method and Market Quotation. If the First Method and Market Quotation
apply, the Defaulting Party will pay to the Non-defaulting Party the excess, if a
positive number, of (A) the sum of the Settlement Amount (determined by the
Non-defaulting Party) in respect of the Terminated Transactions and the Termination
Currency Equivalent of the Unpaid Amounts owing to the Non-defaulting Party over (B)
the Termination Currency Equivalent of the Unpaid Amounts owing to the Defaulting
Party.

(2) First Method and Loss. If the First Method and Loss apply, the Defaulting Party
will pay to the Non-defaulting Party, if a positive number, the Non-defaulting
Party’s Loss in respect of this Agreement.

Second Method and Market Quotation. If the Second Method and Market Quotation
apply, an amount will be payable equal to (A) the sum of the Settlement Amount
(determined by the Non-defaulting Party) in respect of the Terminated Transactions
and the Termination Currency Equivalent of the Unpaid Amounts owing to the
Non-defaulting Party less (B) the Termination Currency Equivalent of the Unpaid
Amounts owing to the Defaulting Party. If that amount is a positive number, the
Defaulting Party will pay it to the Non-defaulting Party; if it is a negative
number, the Non-defaulting Party will pay the absolute value of that amount to the
Defaulting Party.

(3) Second Method and Loss. If the Second Method and Loss apply, an amount will be
payable equal to the Non-defaulting Party’s Loss in respect of this Agreement. If
that amount is a positive number, the Defaulting Party will pay it to the
Non-defaulting Party; if it is a negative number, the Non-defaulting Party will pay
the absolute value of that amount to the Defaulting Party.

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(ii) Termination Events. If the Early Termination Date results from a Termination Event:—

(1) One Affected Party. If there is one Affected Party, the amount payable will be
determined in accordance with Section 6(e)(i)(3), if Market Quotation applies, or
Section 6(e)(i)(4), if Loss applies, except that, in either case, references to the
Defaulting Party and to the Non-defaulting Party will be deemed to be references to
the Affected Party and the party which is not the Affected Party, respectively, and,
if Loss applies and fewer than all the Transactions are being terminated, Loss shall
be calculated in respect of all Terminated Transactions.

(2) Two Affected Parties. If there are two Affected Parties:—

(A) if Market Quotation applies, each party will determine a Settlement
Amount in respect of the Terminated Transactions, and an amount will be
payable equal to (I) the sum of (a) one-half of the difference between the
Settlement Amount of the party with the higher Settlement Amount (“X”) and
the Settlement Amount of the party with the lower Settlement Amount (“Y”)
and (b) the Termination Currency Equivalent of the Unpaid Amounts owing to X
less (II) the Termination Currency Equivalent of the Unpaid Amounts owing to
Y; and

(B) if Loss applies, each party will determine its Loss in respect of this
Agreement (or, if fewer than all the Transactions are being terminated, in
respect of all Terminated Transactions) and an amount will be payable equal
to one-half of the difference between the Loss of the party with the higher
Loss (“X”) and the Loss of the party with the lower Loss (“Y”).

If the amount payable is a positive number, Y will pay it to X; if it is a negative
number, X will pay the absolute value of that amount to Y.

(iii) Adjustment for Bankruptcy. In circumstances where an Early Termination Date occurs
because “Automatic Early Termination” applies in respect of a party, the amount determined
under this Section 6(e) will be subject to such adjustments as are appropriate and permitted
by law to reflect any payments or deliveries made by one party to the other under this
Agreement (and retained by such other party) during the period from the relevant Early
Termination Date to the date for payment determined under Section 6(d)(ii).

(iv) Pre-Estimate. The parties agree that if Market Quotation applies an amount recoverable
under this Section 6(e) is a reasonable pre-estimate of loss and not a penalty. Such amount
is payable for the loss of bargain and the loss of protection against future risks and
except as otherwise provided in this Agreement neither party will be entitled to recover any
additional damages as a consequence of such losses.

7. Transfer

Subject to Section 6(b)(ii), neither this Agreement nor any interest or obligation in or under this
Agreement may be transferred (whether by way of security or otherwise) by either party without the
prior written consent of the other party, except that:—

(a) a party may make such a transfer of this Agreement pursuant to a consolidation or amalgamation
with, or merger with or into, or transfer of all or substantially all its assets to, another entity
(but without prejudice to any other right or remedy under this Agreement); and

(b) a party may make such a transfer of all or any part of its interest in any amount payable to it
from a Defaulting Party under Section 6(e).

Any purported transfer that is not in compliance with this Section will be void.

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8. Contractual Currency

(a) Payment in the Contractual Currency. Each payment under this Agreement will be made in the
relevant currency specified in this Agreement for that payment (the “Contractual Currency”). To the
extent permitted by applicable law, any obligation to make payments under this Agreement in the
Contractual Currency will not be discharged or satisfied by any tender in any currency other than
the Contractual Currency, except to the extent such tender results in the actual receipt by the
party to which payment is owed, acting in a reasonable manner and in good faith in converting the
currency so tendered into the Contractual Currency, of the full amount in the Contractual Currency
of all amounts payable in respect of this Agreement. If for any reason the amount in the
Contractual Currency so received falls short of the amount in the Contractual Currency payable in
respect of this Agreement, the party required to make the payment will, to the extent permitted by
applicable law, immediately pay such additional amount in the Contractual Currency as may be
necessary to compensate for the shortfall. If for any reason the amount in the Contractual Currency
so received exceeds the amount in the Contractual Currency payable in respect of this Agreement,
the party receiving the payment will refund promptly the amount of such excess.

(b) Judgments. To the extent permitted by applicable law, if any judgment or order expressed in a
currency other than the Contractual Currency is rendered (i) for the payment of any amount owing in
respect of this Agreement, (ii) for the payment of any amount relating to any early termination in
respect of this Agreement or (iii) in respect of a judgment or order of another court for the
payment of any amount described in (i) or (ii) above, the party seeking recovery, after recovery in
full of the aggregate amount to which such party is entitled pursuant to the judgment or order,
will be entitled to receive immediately from the other party the amount of any shortfall of the
Contractual Currency received by such party as a consequence of sums paid in such other currency
and will refund promptly to the other party any excess of the Contractual Currency received by such
party as a consequence of sums paid in such other currency if such shortfall or such excess arises
or results from any variation between the rate of exchange at which the Contractual Currency is
converted into the currency of the judgment or order for the purposes of such judgment or order and
the rate of exchange at which such party is able, acting in a reasonable manner and in good faith
in converting the currency received into the Contractual Currency, to purchase the Contractual
Currency with the amount of the currency of the judgment or order actually received by such party.
The term “rate of exchange” includes, without limitation, any premiums and costs of exchange
payable in connection with the purchase of or conversion into the Contractual Currency.

(c) Separate Indemnities. To the extent permitted by applicable law, these indemnities constitute
separate and independent obligations from the other obligations in this Agreement, will be
enforceable as separate and independent causes of action, will apply notwithstanding any indulgence
granted by the party to which any payment is owed and will not be affected by judgment being
obtained or claim or proof being made for any other sums payable in respect of this Agreement.

(d) Evidence of Loss. For the purpose of this Section 8, it will be sufficient for a party to
demonstrate that it would have suffered a loss had an actual exchange or purchase been made.

9. Miscellaneous

(a) Entire Agreement. This Agreement constitutes the entire agreement and understanding of the
parties with respect to its subject matter and supersedes all oral communication and prior writings
with respect thereto.

(b) Amendments. No amendment, modification or waiver in respect of this Agreement will be
effective unless in writing (including a writing evidenced by a facsimile transmission) and
executed by each of the parties or confirmed by an exchange of telexes or electronic messages on an
electronic messaging system.

(c) Survival of Obligations. Without prejudice to Sections 2(a)(iii) and 6(c)(ii), the obligations
of the parties under this Agreement will survive the termination of any Transaction.

(d) Remedies Cumulative. Except as provided in this Agreement, the rights, powers, remedies and
privileges provided in this Agreement are cumulative and not exclusive of any rights, powers,
remedies and privileges provided by law.

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(e) Counterparts and Confirmations.

(i) This Agreement (and each amendment, modification and waiver in respect of it) may be
executed and delivered in counterparts (including by facsimile transmission), each of which
will be deemed an original.

(ii) The parties intend that they are legally bound by the terms of each Transaction from
the moment they agree to those terms (whether orally or otherwise). A Confirmation shall be
entered into as soon as practicable and may be executed and delivered in counterparts
(including by facsimile transmission) or be created by an exchange of telexes or by an
exchange of electronic messages on an electronic messaging system, which in each case will
be sufficient for all purposes to evidence a binding supplement to this Agreement. The
parties will specify therein or through another effective means that any such counterpart,
telex or electronic message constitutes a Confirmation.

(f) No Waiver of Rights. A failure or delay in exercising any right, power or privilege in respect
of this Agreement will not be presumed to operate as a waiver, and a single or partial exercise of
any right, power or privilege will not be presumed to preclude any subsequent or further exercise,
of that right, power or privilege or the exercise of any other right, power or privilege.

(g) Headings. The headings used in this Agreement are for convenience of reference only and are
not to affect the construction of or to be taken into consideration in interpreting this Agreement.

10. Offices; Multibranch Parties

(a) If Section 10(a) is specified in the Schedule as applying, each party that enters into a
Transaction through an Office other than its head or home office represents to the other party
that, notwithstanding the place of booking office or jurisdiction of incorporation or organisation
of such party, the obligations of such party are the same as if it had entered into the Transaction
through its head or home office. This representation will be deemed to be repeated by such party
on each date on which a Transaction is entered into.

(b) Neither party may change the Office through which it makes and receives payments or deliveries
for the purpose of a Transaction without the prior written consent of the other party.

(c) If a party is specified as a Multibranch Party in the Schedule, such Multibranch Party may make
and receive payments or deliveries under any Transaction through any Office listed in the Schedule,
and the Office through which it makes and receives payments or deliveries with respect to a
Transaction will be specified in the relevant Confirmation.

11. Expenses

A Defaulting Party will, on demand, indemnify and hold harmless the other party for and against all
reasonable out-of-pocket expenses, including legal fees and Stamp Tax, incurred by such other party
by reason of the enforcement and protection of its rights under this Agreement or any Credit
Support Document to which the Defaulting Party is a party or by reason of the early termination of
any Transaction, including, but not limited to, costs of collection.

12. Notices

(a) Effectiveness. Any notice or other communication in respect of this Agreement may be given in
any manner set forth below (except that a notice or other communication under Section 5 or 6 may
not be given by facsimile transmission or electronic messaging system) to the address or number or
in accordance with the electronic messaging system details provided (see the Schedule) and will be
deemed effective as indicated:—

	 	(i)	 	if in writing and delivered in person or by courier, on the date it is delivered;
	 
	 	(ii)	 	if sent by telex, on the date the recipient’s answerback is received;

ISDA® 1992

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	 	(iii)	 	if sent by facsimile transmission, on the date that transmission is received by a
responsible employee of the recipient in legible form (it being agreed that the burden of
proving receipt will be on the sender and will not be met by a transmission report generated
by the sender’s facsimile machine);
	 
	 	(iv)	 	if sent by certified or registered mail (airmail, if overseas) or the equivalent
(return receipt requested), on the date that mail is delivered or its delivery is attempted;
or
	 
	 	(v)	 	if sent by electronic messaging system, on the date that electronic message is received,

unless the date of that delivery (or attempted delivery) or that receipt, as applicable, is not a
Local Business Day or that communication is delivered (or attempted) or received, as applicable,
after the close of business on a Local Business Day, in which case that communication shall be
deemed given and effective on the first following day that is a Local Business Day.

(b) Change of Addresses. Either party may by notice to the other change the address, telex or
facsimile number or electronic messaging system details at which notices or other communications
are to be given to it.

13. Governing Law and Jurisdiction

(a) Governing Law. This Agreement will be governed by and construed in accordance with the law
specified in the Schedule.

(b) Jurisdiction. With respect to any suit, action or proceedings relating to this Agreement
(“Proceedings”), each party irrevocably:—

(i) submits to the jurisdiction of the English courts, if this Agreement is expressed to be
governed by English law, or to the non-exclusive jurisdiction of the courts of the State of
New York and the United States District Court located in the Borough of Manhattan in New
York City, if this Agreement is expressed to be governed by the laws of the State of New
York; and

(ii) waives any objection which it may have at any time to the laying of venue of any
Proceedings brought in any such court, waives any claim that such Proceedings have been
brought in an inconvenient forum and further waives the right to object, with respect to
such Proceedings, that such court does not have any jurisdiction over such party.

Nothing in this Agreement precludes either party from bringing Proceedings in any other
jurisdiction (outside, if this Agreement is expressed to be governed by English law, the
Contracting States, as defined in Section 1(3) of the Civil Jurisdiction and Judgments Act 1982 or
any modification, extension or re-enactment thereof for the time being in force) nor will the
bringing of Proceedings in any one or more jurisdictions preclude the bringing of Proceedings in
any other jurisdiction.

(c) Service of Process. Each party irrevocably appoints the Process Agent (if any) specified
opposite its name in the Schedule to receive, for it and on its behalf, service of process in any
Proceedings. If for any reason any party’s Process Agent is unable to act as such, such party will
promptly notify the other party and within 30 days appoint a substitute process agent acceptable to
the other party. The parties irrevocably consent to service of process given in the manner provided
for notices in Section 12. Nothing in this Agreement will affect the right of either party to serve
process in any other manner permitted by law.

(d) Waiver of Immunities. Each party irrevocably waives, to the fullest extent permitted by
applicable law, with respect to itself and its revenues and assets (irrespective of their use or
intended use), all immunity on the grounds of sovereignty or other similar grounds from (i) suit,
(ii) jurisdiction of any court, (iii) relief by way of injunction, order for specific performance
or for recovery of property, (iv) attachment of its assets (whether before or after judgment) and
(v) execution or enforcement of any judgment to which it or its revenues or assets might otherwise
be entitled in any Proceedings in the courts of any jurisdiction and irrevocably agrees, to the
extent permitted by applicable law, that it will not claim any such immunity in any Proceedings.

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14. Definitions

As used in this Agreement: —

“Additional Termination Event” has the meaning specified in Section 5(b).

“Affected Party” has the meaning specified in Section 5(b).

“Affected Transactions” means (a) with respect to any Termination Event consisting of an
Illegality, Tax Event or Tax Event Upon Merger, all Transactions affected by the occurrence of such
Termination Event and (b) with respect to any other Termination Event, all Transactions.

“Affiliate” means, subject to the Schedule, in relation to any person, any entity controlled,
directly or indirectly, by the person, any entity that controls, directly or indirectly, the person
or any entity directly or indirectly under common control with the person. For this purpose,
“control” of any entity or person means ownership of a majority of the voting power of the entity
or person.

“Applicable Rate” means: —

(a) in respect of obligations payable or deliverable (or which would have been but for Section
2(a)(iii)) by a Defaulting Party, the Default Rate;

(b) in respect of an obligation to pay an amount under Section 6(e) of either party from and after
the date (determined in accordance with Section 6(d)(ii)) on which that amount is payable, the
Default Rate;

(c) in respect of all other obligations payable or deliverable (or which would have been but for
Section 2(a)(iii)) by a Non-defaulting Party, the Non-default Rate; and

(d) in all other cases, the Termination Rate.

“Burdened Party” has the meaning specified in Section 5(b).

“Change in Tax Law” means the enactment, promulgation, execution or ratification of, or any change
in or amendment to, any law (or in the application or official interpretation of any law) that
occurs on or after the date on which the relevant Transaction is entered into.

“consent” includes a consent, approval, action, authorisation, exemption, notice, filing,
registration or exchange control consent.

“Credit Event Upon Merger” has the meaning specified in Section 5(b).

“Credit Support Document” means any agreement or instrument that is specified as such in this
Agreement.

“Credit Support Provider” has the meaning specified in the Schedule.

“Default Rate” means a rate per annum equal to the cost (without proof or evidence of any actual
cost) to the relevant payee (as certified by it) if it were to fund or of funding the relevant
amount plus 1% per annum.

“Defaulting Party” has the meaning specified in Section 6(a).

“Early Termination Date” means the date determined in accordance with Section 6(a) or 6(b)(iv).

“Event of Default” has the meaning specified in Section 5(a) and, if applicable, in the Schedule.

“Illegality” has the meaning specified in Section 5(b).

“Indemnifiable Tax” means any Tax other than a Tax that would not be imposed in respect of a
payment under this Agreement but for a present or former connection between the jurisdiction of the
government or taxation authority imposing such Tax and the recipient of such payment or a person
related to such recipient (including, without limitation, a connection arising from such recipient
or related person being or having been a citizen or resident of

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such jurisdiction, or being or having been organised, present or engaged in a trade or business in
such jurisdiction, or having or having had a permanent establishment or fixed place of business in
such jurisdiction, but excluding a connection arising solely from such recipient or related person
having executed, delivered, performed its obligations or received a payment under, or enforced,
this Agreement or a Credit Support Document).

“law” includes any treaty, law, rule or regulation (as modified, in the case of tax matters, by the
practice of any relevant governmental revenue authority) and “lawful” and “unlawful” will be
construed accordingly.

“Local Business Day” means, subject to the Schedule, a day on which commercial banks are open for
business (including dealings in foreign exchange and foreign currency deposits) (a) in relation to
any obligation under Section 2(a)(i), in the place(s) specified in the relevant Confirmation or, if
not so specified, as otherwise agreed by the parties in writing or determined pursuant to
provisions contained, or incorporated by reference, in this Agreement, (b) in relation to any other
payment, in the place where the relevant account is located and, if different. in the principal
financial centre, if any, of the currency of such payment, (c) in relation to any notice or other
communication, including notice contemplated under Section 5(a)(i), in the city specified in the
address for notice provided by the recipient and, in the case of a notice contemplated by Section
2(b), in the place where the relevant new account is to be located and (d) in relation to Section
5(a)(v)(2), in the relevant locations for performance with respect to such Specified Transaction.

“Loss” means, with respect to this Agreement or one or more Terminated Transactions, as the case
may be, and a party, the Termination Currency Equivalent of an amount that party reasonably
determines in good faith to be its total losses and costs (or gain, in which case expressed as a
negative number) in connection with this Agreement or that Terminated Transaction or group of
Terminated Transactions, as the case may be, including any loss of bargain, cost of funding or, at
the election of such party but without duplication, loss or cost incurred as a result of its
terminating, liquidating, obtaining or reestablishing any hedge or related trading position (or any
gain resulting from any of them). Loss includes losses and costs (or gains) in respect of any
payment or delivery required to have been made (assuming satisfaction of each applicable condition
precedent) on or before the relevant Early Termination Date and not made, except, so as to avoid
duplication, if Section 6(e)(i)(1) or (3) or 6(e)(ii)(2)(A) applies. Loss does not include a
party’s legal fees and out-of-pocket expenses referred to under Section 11. A party will determine
its Loss as of the relevant Early Termination Date, or, if that is not reasonably practicable, as
of the earliest date thereafter as is reasonably practicable. A party may (but need not) determine
its Loss by reference to quotations of relevant rates or prices from one or more leading dealers in
the relevant markets.

“Market Quotation” means, with respect to one or more Terminated Transactions and a party making
the determination, an amount determined on the basis of quotations from Reference Market-makers.
Each quotation will be for an amount, if any, that would be paid to such party (expressed as a
negative number) or by such party (expressed as a positive number) in consideration of an agreement
between such party (taking into account any existing Credit Support Document with respect to the
obligations of such party) and the quoting Reference Market-maker to enter into a transaction (the
“Replacement Transaction”) that would have the effect of preserving for such party the economic
equivalent of any payment or delivery (whether the underlying obligation was absolute or contingent
and assuming the satisfaction of each applicable condition precedent) by the parties under Section
2(a)(i) in respect of such Terminated Transaction or group of Terminated Transactions that would,
but for the occurrence of the relevant Early Termination Date, have been required after that date.
For this purpose, Unpaid Amounts in respect of the Terminated Transaction or group of Terminated
Transactions are to be excluded but, without limitation, any payment or delivery that would, but
for the relevant Early Termination Date, have been required (assuming satisfaction of each
applicable condition precedent) after that Early Termination Date is to be included. The
Replacement Transaction would be subject to such documentation as such party and the Reference
Market-maker may, in good faith, agree. The party making the determination (or its agent) will
request each Reference Market-maker to provide its quotation to the extent reasonably practicable
as of the same day and time (without regard to different time zones) on or as soon as reasonably
practicable after the relevant Early Termination Date. The day and time as of which those
quotations are to be obtained will be selected in good faith by the party obliged to make a
determination under Section 6(e), and, if each party is so obliged, after consultation with the
other. If more than three quotations are provided, the Market Quotation will be the arithmetic mean
of the quotations, without regard to the quotations having the highest and lowest values. If
exactly three such quotations are provided, the Market Quotation will be the quotation remaining
after disregarding the highest and lowest quotations. For this purpose, if more than one quotation
has the same highest value or lowest value, then one of such quotations shall be disregarded. If
fewer than three quotations are

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provided, it will be deemed that the Market Quotation in respect of such Terminated Transaction or
group of Terminated Transactions cannot be determined.

“Non-default Rate” means a rate per annum equal to the cost (without proof or evidence of any
actual cost) to the Non-defaulting Party (as certified by it) if it were to fund the relevant
amount.

“Non-defaulting Party” has the meaning specified in Section 6(a).

“Office” means a branch or office of a party, which may be such party’s head or home office.

“Potential Event of Default” means any event which, with the giving of notice or the lapse of time
or both, would constitute an Event of Default.

“Reference Market-makers” means four leading dealers in the relevant market selected by the party
determining a Market Quotation in good faith (a) from among dealers of the highest credit standing
which satisfy all the criteria that such party applies generally at the time in deciding whether to
offer or to make an extension of credit and (b) to the extent practicable, from among such dealers
having an office in the same city.

“Relevant Jurisdiction” means, with respect to a party, the jurisdictions (a) in which the party is
incorporated, organised, managed and controlled or considered to have its seat, (b) where an Office
through which the party is acting for purposes of this Agreement is located, (c) in which the party
executes this Agreement and (d) in relation to any payment, from or through which such payment is
made.

“Scheduled Payment Date” means a date on which a payment or delivery is to be made under Section
2(a)(i) with respect to a Transaction.

“Set-off” means set-off, offset, combination of accounts, right of retention or withholding or
similar right or requirement to which the payer of an amount under Section 6 is entitled or subject
(whether arising under this Agreement, another contract, applicable law or otherwise) that is
exercised by, or imposed on, such payer.

“Settlement Amount” means, with respect to a party and any Early Termination Date, the sum of:

(a) the Termination Currency Equivalent of the Market Quotations (whether positive or negative) for
each Terminated Transaction or group of Terminated Transactions for which a Market Quotation is
determined; and

(b) such party’s Loss (whether positive or negative and without reference to any Unpaid Amounts)
for each Terminated Transaction or group of Terminated Transactions for which a Market Quotation
cannot be determined or would not (in the reasonable belief of the party making the determination)
produce a commercially reasonable result.

“Specified Entity” has the meaning specified in the Schedule.

“Specified Indebtedness” means, subject to the Schedule, any obligation (whether present or future,
contingent or otherwise, as principal or surety or otherwise) in respect of borrowed money.

“Specified Transaction” means, subject to the Schedule, (a) any transaction (including an agreement
with respect thereto) now existing or hereafter entered into between one party to this Agreement
(or any Credit Support Provider of such party or any applicable Specified Entity of such party) and
the other party to this Agreement (or any Credit Support Provider of such other party or any
applicable Specified Entity of such other party) which is a rate swap transaction, basis swap,
forward rate transaction, commodity swap, commodity option, equity or equity index swap, equity or
equity index option, bond option, interest rate option, foreign exchange transaction, cap
transaction, floor transaction, collar transaction, currency swap transaction, cross-currency rate
swap transaction, currency option or any other similar transaction (including any option with
respect to any of these transactions), (b) any combination of these transactions and (c) any other
transaction identified as a Specified Transaction in this Agreement or the relevant confirmation.

“Stamp Tax” means any stamp, registration, documentation or similar tax.

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“Tax” means any present or future tax, levy, impost, duty, charge, assessment or fee of any nature
(including interest, penalties and additions thereto) that is imposed by any government or other
taxing authority in respect of any payment under this Agreement other than a stamp, registration,
documentation or similar tax.

“Tax Event” has the meaning specified in Section 5(b).

“Tax Event Upon Merger” has the meaning specified in Section 5(b).

“Terminated Transactions” means with respect to any Early Termination Date (a) if resulting from a
Termination Event, all Affected Transactions and (b) if resulting from an Event of Default, all
Transactions (in either case) in effect immediately before the effectiveness of the notice
designating that Early Termination Date (or, if “Automatic Early Termination” applies, immediately
before that Early Termination Date).

“Termination Currency” has the meaning specified in the Schedule.

“Termination Currency Equivalent” means, in respect of any amount denominated in the Termination
Currency, such Termination Currency amount and, in respect of any amount denominated in a currency
other than the Termination Currency (the “Other Currency”), the amount in the Termination Currency
determined by the party making the relevant determination as being required to purchase such amount
of such Other Currency as at the relevant Early Termination Date, or, if the relevant Market
Quotation or Loss (as the case may be), is determined as of a later date, that later date, with the
Termination Currency at the rate equal to the spot exchange rate of the foreign exchange agent
(selected as provided below) for the purchase of such Other Currency with the Termination Currency
at or about 11:00 a.m. (in the city in which such foreign exchange agent is located) on such date
as would be customary for the determination of such a rate for the purchase of such Other Currency
for value on the relevant Early Termination Date or that later date. The foreign exchange agent
will, if only one party is obliged to make a determination under Section 6(e), be selected in good
faith by that party and otherwise will be agreed by the parties

“Termination Event” means an Illegality, a Tax Event or a Tax Event Upon Merger or, if specified to
be applicable, a Credit Event Upon Merger or an Additional Termination Event.

“Termination Rate” means a rate per annum equal to the arithmetic mean of the cost (without proof
or evidence of any actual cost) to each party (as certified by such party) if it were to fund or of
funding such amounts.

“Unpaid Amounts” owing to any party means, with respect to an Early Termination Date, the aggregate
of (a) in respect of all Terminated Transactions, the amounts that became payable (or that would
have become payable but for Section 2(a)(iii)) to such party under Section 2(a)(i) on or prior to
such Early Termination Date and which remain unpaid as at such Early Termination Date and (b) in
respect of each Terminated Transaction, for each obligation under Section 2(a)(i) which was (or
would have been but for Section 2(a)(iii)) required to be settled by delivery to such party on or
prior to such Early Termination Date and which has not been so settled as at such Early Termination
Date, an amount equal to the fair market value of that which was (or would have been) required to
be delivered as of the originally scheduled date for delivery, in each case together with (to the
extent permitted under applicable law) interest, in the currency of such amounts, from (and
including) the date such amounts or obligations were or would have been required to have been paid
or performed to (but excluding) such Early Termination Date, at the Applicable Rate. Such amounts
of interest will be calculated on the basis of daily compounding and the actual number of days
elapsed. The fair market value of any obligation referred to in clause (b) above shall be
reasonably determined by the party obliged to make the determination under Section 6(e) or, if each
party is so obliged, it shall be the average of the Termination Currency Equivalents of the fair
market values reasonably determined by both parties.

ISDA® 1992

17

 

IN WITNESS WHEREOF the parties have executed this document on the respective dates specified below
with effect from the date specified on the first page of this document.

	 	 	 	 	 	 	 	 	 	 	 
	 

	 	GOLDMAN SACHS MITSUI MARINE
	 	 	 	 	 	DAIMLERCHRYSLER AUTO TRUST 2008-A,	 	 
	 

	 	     DERIVATIVE PRODUCTS, L.P.,
	 	 	 	 	 	     by BNYM (DELAWARE),	 	 
	 

	 	by GSMMDPGP, INC., its general partner
	 	 	 	 	 	not in its individual capacity but solely as Owner Trustee	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Donna Mansfield	 	 	 	By:	 	/s/ Kristine K. Gullo	 	 
	 
	 	 

Name:  Donna Mansfield	 		 	 	 	 

Name:  Kristine K. Gullo	 	 
	 

	 	Title:    Vice President	 	 	 	 	 	Title:    Vice President	 	 
	 

	 	Date:
	 	 	 	 	 	Date:	 	 

ISDA MASTER AGREEMENT — GS/DCAT 2008-A

 ISDA® 1992EX-10.3

 

Exhibit 10.3

EXECUTION VERSION

(Multicurrency-Cross Border)

ISDA®

International Swap Dealers Association, Inc.

SCHEDULE

to the

1992 Master Agreement

dated as of February 21, 2008

between:

GOLDMAN SACHS MITSUI MARINE DERIVATIVE PRODUCTS, L.P.,

a limited partnership organized under the laws of the State of Delaware

(“Party A”)

and

DAIMLERCHRYSLER AUTO TRUST 2008-A, a statutory trust, duly organized under the laws of the State of

Delaware

(“Party B”)

Part 1. Termination Provisions.

	 	(a)	 	“Specified Entity” means in relation to Party A for the purpose of:

	 	 	 	 	 	 	 
	 

	 	 	 	Section 5(a)(v),
	 	none.
	 

	 	 	 	Section 5(a)(vi),
	 	none.
	 

	 	 	 	Section 5(a)(vii),
	 	none.
	 

	 	 	 	Section 5(b)(iv),
	 	none.
	 
	 	 	 	 	 	 
	 	 	and in relation to Party B for the purpose of:
	 
	 	 	 	 	 	 
	 

	 	 	 	Section 5(a)(v),
	 	none.
	 

	 	 	 	Section 5(a)(vi),
	 	none.
	 

	 	 	 	Section 5(a)(vii),
	 	none.
	 

	 	 	 	Section 5(b)(iv),
	 	none.

	 	(b)	 	“Specified Transaction” in Section 14 of the Agreement is amended in its
entirety as follows:
	 
	 	 	 	“Specified Transaction” means (a) any transaction (including an agreement with
respect thereto) now existing or hereafter entered into between one party to this
Agreement (or any Credit Support Provider of such party or any applicable Specified
Entity of such party) and the other party to this Agreement (or any Credit Support
Provider of such other party or any applicable Specified Entity of such other party)
(i) which is a rate swap

 

 

	 	 	 	transaction, swap option, basis swap, forward rate
transaction, commodity swap, commodity option, commodity spot transaction, equity or
equity index swap, equity or equity index option, bond option, interest rate option,
foreign exchange transaction, cap transaction, floor transaction, collar
transaction, currency swap transaction, cross-currency rate swap transaction,
currency option, weather swap, weather derivative, weather option, credit protection
transaction, credit swap, credit default swap, credit default option, total return
swap, credit spread transaction, repurchase transaction, reverse repurchase
transaction, buy/sell-back transaction, securities lending transaction or forward
purchase or sale of a security, commodity or other financial instrument or interest
(including any option with respect to any of these transactions) or (ii) which is a
type of transaction that is similar to any transaction referred to in clause (i)
that is currently, or in the future becomes, recurrently entered into in the
financial markets (including terms and conditions incorporated by reference in such
agreement) and that is a forward, swap, future, option or other derivative on one or
more rates, currencies, commodities, equity securities or other equity instruments,
debt securities or other debt instruments, or economic indices or measures of
economic risk or value, (b) any combination of these transactions and (c) any other
transaction identified as a Specified Transaction in this agreement or the relevant
confirmation.
	 
	 	(c)	 	The “Credit Support Default” provisions of Section 5(a)(iii) will apply to
Party A and will not apply to Party B, except that Section 5(a)(iii)(1) will apply
solely in respect of Paragraph 7(i) as it applies to Party B’s obligations under
Paragraph 3(b) of the Credit Support Annex.
	 
	 	(d)	 	The “Misrepresentation” provisions of Section 5(a)(iv) will apply to Party A
and will not apply to Party B.
	 
	 	(e)	 	The “Default under Specified Transaction” provisions of Section 5(a)(v) will
not apply to Party A and will not apply to Party B.
	 
	 	(f)	 	The “Cross Default” provisions of Section 5(a)(vi) will apply to Party A and
will not apply to Party B, provided that:

	 	(i)	 	the phrase “or becoming capable at such time of being declared”
shall be deleted from clause (1) of such Section 5(a)(vi); and
	 
	 	(ii)	 	the following language shall be added to the end thereof:
	 
	 	 	 	“Notwithstanding the foregoing, a default under subsection (2) hereof shall
not constitute an Event of Default if (i) the default was caused solely by
error or omission of an administrative or operational nature; (ii) funds
were available to enable the party to make the payment when due; and (iii)
the payment is made within two Local Business Days of such party’s receipt
of written notice of its failure to pay.”

	 	 	 	For purposes of this Agreement:
	 
	 	 	 	“Specified Indebtedness” shall have the meaning specified in Section 14 of this
Agreement; provided that Specified Indebtedness shall not include obligations in
respect of deposits received in the course of a party’s ordinary banking business.
	 
	 	 	 	“Threshold Amount” means $50,000,000.

20

 

	 	(g)	 	The “Bankruptcy” provisions of Section 5(a)(vii) will apply to Party A and
Party B provided that:

	 	(i)	 	Section 5(a)(vii)(2), (7) and (9) will not apply to Party B;
	 
	 	(ii)	 	Section 5(a)(vii)(4) will not apply to Party B to the extent
that it refers to proceedings or petitions instituted or presented by Party A
or any of Party A’s Affiliates;
	 
	 	(iii)	 	Section 5(a)(vii)(6) will not apply to Party B to the extent
that it refers to (i) any appointment that is contemplated or effected by any
document to which Party B is, as of the date of this Agreement, a party in
connection with the transactions contemplated by the Indenture or (ii) any such
appointment to which Party B has not yet become subject; and
	 
	 	(iv)	 	Section 5(a)(vii)(8) will apply to Party B but only to the
extent that it applies to Sections 5(a)(vii)(2), (4), (6) and (7) as they apply
with respect to Party B.

	 	(h)	 	The “Merger Without Assumption” provisions of Section 5(a)(viii) will apply to
Party A and will apply to Party B.
	 
	 	(i)	 	The “Illegality” provisions of Section 5(b)(i) will apply to Party A and Party
B.
	 
	 	(j)	 	The “Tax Event” provisions of Section 5(b)(ii) will apply to Party A and will
apply to Party B.
	 
	 	(k)	 	The “Tax Event Upon Merger” provisions of Section 5(b)(iii) will apply to Party
A and will not apply to Party B; provided that Party A shall not be entitled to
designate an Early Termination Date by reason of a Tax Event Upon Merger in respect of
which it is the Affected Party.
	 
	 	(l)	 	The “Credit Event Upon Merger” provisions of Section 5(b)(iv) will apply to
Party A and will not apply to Party B.
	 
	 	(m)	 	The “Automatic Early Termination” provision of Section 6(a) will not apply to
Party A and will not apply to Party B; provided that, if the Event of Default specified
in Section 5(a)(vii)(1), (3), (4), (5), (6) or to the extent analogous thereto, (8) is
governed by a system of law that does not permit termination to take place after the
occurrence of the relevant Event of Default with respect to a party, then the Automatic
Early Termination provision of Section 6(a) will apply to such party.
	 
	 	(n)	 	The “Breach of Agreement” provision of Section 5(a)(ii) will apply to Party A
and will not apply to Party B.
	 
	 	(o)	 	Payments on Early Termination. For the purpose of Section 6(e) of this
Agreement:

	 	(i)	 	Market Quotation will apply.
	 
	 	(ii)	 	Second Method will apply.

	 	(p)	 	“Termination Currency” means US Dollars.

21

 

	 	(q)	 	Additional Termination Event will apply.
	 
	 	(A)	 	The following Additional Termination Events shall apply and Party B shall be
the sole Affected Party:

	 	(i)	 	Amendment or Modification of Basic Documents. Any of the Basic
Documents shall have been amended or modified without the prior written consent
of Party A (only where such consent of Party A is required in such relevant
Basic Document and, such consent of Party A shall not be unreasonably withheld)
if the result of such amendment or modification could reasonably be expected to
have a material adverse effect on the interests of Party A or is (a) to
increase or reduce or change the priority of payment of any amount stated to be
payable by Party A or Party B under the Transaction; (b) accelerate or postpone
the scheduled date of any payment under the Transaction; (c) affect the
calculation of any amount that would have been payable upon an early
termination of the Transaction; (d) release Party A or Party B from any of its
obligations under the Transaction; or (e) modify any of the definitions in any
of the Basic Documents which would have the effect of any of the foregoing.
Any payments owed to Party A under Section 6(e) of this Agreement as a result
of such Additional Termination Event shall be made without regard to the effect
of any such amendment, modification or supplement.
	 
	 	(ii)	 	Redemption. There occurs any redemption (in whole, but not in
part) or a clean up call or other prepayment in full of the Notes for which the
notice of redemption cannot be rescinded, provided that the Early Termination
Date shall not occur until the redemption date of the Notes under the
Indenture.
	 
	 	(iii)	 	Liquidation of the Collateral. Collateral is liquidated in
accordance with Section 5.03 of the Indenture following the occurrence of an
Event of Default (as defined in the Indenture); provided, however, that Party A
may elect more than one Early Termination Date, terminating the Transactions in
part, if the liquidation of the Collateral continues for longer than a 24-hour
period.

	 	(B)	 	The following Additional Termination Events shall apply and Party A shall be
the sole Affected Party:

	 	(i)	 	Party A Downgrade Event. As set forth in Part 5(h).
	 
	 	(iv)	 	Regulation AB Financial Disclosure. Failure of Party A to
comply with the requirements of Part 5(q), with Party A as the sole Affected
Party.

	 	(r)	 	Failure to Pay or Deliver. Section 5(a)(i) shall be amended by replacing the
word “third” with “second”.

22

 

Part 2. Tax Representations.

	 	(a)	 	Payer Representations. For the purpose of Section 3(e) of this Agreement,
Party A will make the following representation and Party B will make the following
representation:
	 
	 	 	 	It is not required by any applicable law, as modified by the practice of any
relevant governmental revenue authority, of any Relevant Jurisdiction to make any
deduction or withholding for or on account of any Tax from any payment (other than
interest under Section 2(e), 6(d)(ii) or 6(e) of this Agreement) to be made by it to
the other party under this Agreement. In making this representation, it may rely on
(i) the accuracy of any representations made by the other party pursuant to
Section 3(f) of this Agreement, (ii) the satisfaction of the agreement contained in
Section 4(a)(i) or 4(a)(iii) of this Agreement and the accuracy and effectiveness of
any document provided by the other party pursuant to Section 4(a)(i) or 4(a)(iii) of
this Agreement and (iii) the satisfaction of the agreement of the other party
contained in Section 4(d) of this Agreement; provided that it shall not be a breach
of this representation where reliance is placed on clause (ii) and the other party
does not deliver a form or document under Section 4(a)(iii) by reason of material
prejudice to its legal or commercial position.
	 
	 	(b)	 	Payee Representations. For the purpose of Section 3(f) of this Agreement, each
of Party A and Party B represent that it is a U.S. person for U.S. federal income tax
purposes.

23

 

Part 3. Agreement to Deliver Documents.

For the purpose of Sections 4(a)(i) and (ii) of this Agreement, each party agrees to deliver the
following documents, as applicable:

	 	(a)	 	Tax forms, documents or certificates to be delivered are:

	 	 	 	 	 
		 	 	 	 
	Party required	 	 	 	 
	to deliver document 	 	Form, Document, Certificate	 	Date by which to be delivered
	Party A and Party B

	 	A correct, complete and
duly executed U.S.
Internal Revenue Service
Form W-9 (or any successor
thereto).
	 	(A) Upon execution of this
Agreement; (B) promptly upon
reasonable demand by the
other party; and
(C) promptly upon learning
that any Form W-9 previously
provided by it has become
obsolete or incorrect.

24

 

	 	(b)	 	Other documents to be delivered are:

	 	 	 	 	 	 	 
	 	 	 	 	 	 	Covered by
	Party required	 	 	 	 	 	Section 3(d)
	to deliver document	 	Form/Document/ Certificate	 	Date by which to be delivered	 	Representation
	Party B

	 	Certified copies of
(i) resolutions adopted by its
board of directors or its
by-laws authorizing the person
or persons signing this
Agreement, the Confirmations
hereunder or any other
appropriate authorizing
document, in substance
reasonably satisfactory to the
other party, (ii) an incumbency
certificate certifying the
names, true signatures and
authority of the person or
persons signing this Agreement,
the Confirmations hereunder; and
(iii) other necessary approvals
and authorizations with respect
to the execution, delivery and
performance of this Agreement,
the Confirmations hereunder.
	 	Upon execution and
delivery of this
Agreement.
	 	Yes
	 
	 	 	 	 	 	 
	Party A

	 	A Power of Attorney with respect
to Party A
	 	Upon execution and
delivery of this
Agreement.
	 	Yes
	 
	 	 	 	 	 	 
	Party B

	 	A copy of the Servicer Report
furnished by the Servicer.
	 	Promptly upon
request.
	 	Yes
	 
	 	 	 	 	 	 
	Party B

	 	A certified copy of the Indenture
	 	Upon execution and
delivery of this
Agreement and prior
to the execution of
any amendment,
supplement or
waiver thereto.
	 	Yes
	 
	 	 	 	 	 	 
	Party A

	 	Most recently prepared annual
balance sheet of Party A.
	 	Promptly upon
request.
	 	Yes
	 
	 	 	 	 	 	 
	Party A and Party B

	 	An opinion of counsel in form
and substance satisfactory to
the other party.
	 	Upon execution and
delivery of this
Agreement.
	 	Yes

25

 

Part 4. Miscellaneous.

	 	(a)	 	Addresses for Notices. For the purpose of Section 12(a) of this Agreement:
	 
	 	 	 	Address for notices or communications to Party A:

Goldman Sachs Mitsui Marine Derivative Products, L.P.

85 Broad Street

New York, New York 10004

Attention: Swap Administration

Telephone: +1 (212) 902-5692

Facsimile: +1 (212) 902-1000

	 	 	 	Address for notices or communications to Party B:

DaimlerChrysler Auto Trust 2008-A

c/o BNYM (Delaware)

100 White Clay Center, Route 273

P.O. Box 6995

Newark, Delaware 19714

Attention: Corporate Trust Administration

Facsimile: +1 (302) 453-4400

	 	With copies to:

The Bank of New York

101 Barclay Street, 8W

New York, NY 10286

Attention: Asset Backed Securities Unit

email: jbobko@bankofny.com

	 	 	 	and

DaimlerChrysler Financial Services Americas LLC

CIMS 405-25-10

27777 Inkster Road

Farmington Hills, MI 48335

Attention: Paul Colenso

Facsimile: +1 (248) 427-4267

	 	(b)	 	Process Agent. For the purpose of Section 13(c) of this Agreement:
	 
	 	 	 	Party A appoints as its Process Agent – not applicable.
	 
	 	 	 	Party B appoints as its Process Agent – not applicable.

26

 

	 	(c)	 	Offices. The provisions of Section 10(a) will apply to this Agreement.
	 
	 	(d)	 	Multibranch Party. For the purpose of Section 10(c) of this Agreement:
	 
	 	 	 	Party A is not a Multibranch Party.
	 
	 	 	 	Party B is not a Multibranch Party.
	 
	 	(e)	 	Calculation Agent. Party A shall be the Calculation Agent; provided, however,
that if an Event of Default shall have occurred with respect to which Party A is a
Defaulting Party, Party B shall have the right to designate as Calculation Agent an
independent party, reasonably acceptable to Party A.
	 
	 	(f)	 	Credit Support Document. Details of any Credit Support Document:
	 
	 	 	 	Party A’s obligations hereunder are supported by the following Credit Support
Documents: (A) the Support Agreement dated as of October 8, 1993 between Party A,
Mitsui Sumitomo Insurance Company, Limited (formerly known as Mitsui Marine and Fire
Insurance Co., Ltd.) (“Mitsui Marine”) and The Goldman Sachs Group, Inc. (the
“Goldman Group”), (B) the Guaranty, dated as of December 20, 2000 between Mitsui
Marine and Goldman Group and (C) the Credit Support Annex between Party A and Party
B as of the date hereof (the “Credit Support Annex”).
	 
	 	 	 	Party B’s obligations hereunder are supported by the following Credit Support
Documents: any Credit Support Annex entered into or delivered by Party A in
conjunction with a ratings downgrade of Party A.
	 
	 	(g)	 	Credit Support Provider.
	 
	 	 	 	Credit Support Provider means in relation to Party A: none.
	 
	 	 	 	Credit Support Provider means in relation to Party B: none.
	 
	 	(h)	 	Governing Law. THIS AGREEMENT (AND ALL MATTERS AND DISPUTES ARISING UNDER OR
OUT OF THIS AGREEMENT, WHETHER IN CONTRACT, TORT OR OTHERWISE) WILL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REFERENCE TO ITS
CHOICE OF LAW DOCTRINE.
	 
	 	(i)	 	Netting of Payments. Subparagraph (ii) of Section 2(c) of this Agreement will
apply with respect to all Transactions entered into under this Agreement and therefore
netting across Transactions will not occur.
	 
	 	(j)	 	“Affiliate” will have the meaning specified in Section 14 of this Agreement
with respect to Party A. Party B shall be deemed to have no Affiliates.
	 
	 	(k)	 	Trial by Jury. WAIVER OF RIGHT TO TRIAL BY JURY. EACH PARTY WAIVES, TO THE
FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN
RESPECT OF ANY PROCEEDINGS RELATING TO THIS AGREEMENT AND ACKNOWLEDGES THAT THE WAIVER
IS A MATERIAL INDUCEMENT TO THE OTHER PARTY’S ENTERING INTO THIS AGREEMENT

27

 

	 	(l)	 	Jurisdiction. Section 13(b) is hereby amended by: (i) deleting in the second
line of subparagraph (i) thereof the word “non-”; and (ii) deleting the final paragraph
thereof.

Part 5. Other Provisions.

	 	(a)	 	Section 3(d) is hereby amended by adding in the third line thereof after the
word “respect” and before the period:

“or, in the case of financial statements, a fair presentation of the financial condition of the
relevant party”.

	 	(b)	 	In addition to the representations in Section 3 of this Agreement:

	 	(i)	 	each party will be deemed to represent to the other party on
the date on which it enters into a Transaction that (absent a written agreement
between the parties that expressly imposes affirmative obligations to the
contrary for that Transaction):

	 	(1)	 	Non-Reliance. It is acting for its own
account, and it has made its own independent decisions to enter into
that Transaction and as to whether that Transaction is appropriate or
proper for it based upon its own judgment and upon advice from such
advisers as it has deemed necessary. It is not relying on any
communication (written or oral) of the other party as investment advice
or as a recommendation to enter into that Transaction; it being
understood that information and explanations related to the terms and
conditions of a Transaction shall not be considered investment advice
or a recommendation to enter into that Transaction. No communication
(written or oral) received from the other party shall be deemed to be
an assurance or guarantee as to the expected results of that
Transaction.
	 
	 	(2)	 	Assessment and Understanding. It is capable of
assessing the merits of and understanding (on its own behalf or through
independent professional advice), and understands and accepts, the
terms, conditions and risks of that Transaction. It is also capable of
assuming, and assumes, the risks of that Transaction.
	 
	 	(3)	 	Status of Parties. The other party is not
acting as a fiduciary for or an adviser to it in respect of that
Transaction.
	 
	 	(4)	 	Line of Business. It has entered into this
Agreement (including each Transaction evidenced hereby) in conjunction
with its line of business (including financial intermediation services)
or the financing of its business.
	 
	 	(5)	 	Risk Management. Party B alone represents that
this Agreement has been, and each Transaction hereunder has been or
will be, as the case may be, entered into for the purpose of managing
its borrowings or investments, hedging its underlying assets or
liabilities or in connection with its line of business (including
financial intermediation services) and not for the purpose of
speculation.

28

 

	 	(ii)	 	each party represents and warrants that (A) it is an “eligible
contract participant” within the meaning of Section 1a(12) of the Commodity
Exchange Act, as amended; (B) this Agreement and each Transaction is subject to
individual negotiation by such party; and (C) neither this Agreement nor any
Transaction will be executed or traded on a “trading facility” within the
meaning of Section 1a(33) of the Commodity Exchange Act, as amended.
	 
	 	(iii)	 	each party represents and warrants that it is neither:

	 	(1)	 	an “employee benefit plan” as defined in
Section 3(3) of the Employee Retirement Income Security Act of 1974
(the “ERISA”) which is subject to Part 4 of Subtitle B of Title I of
such Act;
	 
	 	(2)	 	a “plan” as defined in Section 4975(e)(1) of
the Internal Revenue Code of 1986, as amended; nor
	 
	 	(3)	 	an entity the assets of which are deemed to be
assets of any such “employee benefit plan” or “plan” by reason of the
U.S. Department of Labor’s plan asset regulation, 29 C.F.R. Part 2510.3
101, as modified by Section 3(42) of ERISA.

	 	 	 	The parties agree that each representation contained in this Part 5(b) shall be
deemed repeated by the party making such representation on each date on which a
Transaction is entered into.
	 
	 	(c)	 	Amendment and Modification. Notwithstanding Sections 9(b) and 9(e) of this
Agreement, each party agrees that no amendment, modification or waiver in respect of
this Agreement will be effective unless in writing and executed by each of the parties
(including by counterpart but excluding by means of a Confirmation); provided that the
parties may agree in a Confirmation that they will comply with such Sections to amend,
modify or waive this Agreement solely with respect to the Transaction that is the
subject of the Confirmation, and provided, further, that the parties may participate in
a protocol process of general amendment by ISDA by which master agreements including
this one may be deemed to be amended. Notwithstanding the foregoing no amendment,
modification or waiver in respect of this Agreement will be effective unless the Rating
Agency Condition has been satisfied in respect of such proposed amendment, modification
or waiver.
	 
	 	(d)	 	Consent to Recording. Each party consents to the recording of the telephone
conversations of its trading, operations and marketing personnel in connection with
this Agreement or any potential Transaction.
	 
	 	(e)	 	Non-Petition. Party A hereby agrees it shall not institute against Party B any
bankruptcy, reorganization, arrangement, insolvency, or liquidation proceedings or
other similar proceedings until at least one year and one day or, if longer, the
applicable preference period then in effect, after the payment in full of all of the
Notes; provided, however, that nothing herein shall preclude or estop Party A (A) from
taking any action prior to the expiration of the applicable preference period in
(x) any case or proceeding voluntarily filed or commenced by Party B or (y) any
involuntary insolvency proceeding filed or commenced against Party B by a person other
than Party A or (B) from commencing against Party B or any properties of Party B any
legal action which is not a bankruptcy, reorganization, arrangement, insolvency,
moratorium or liquidation

29

 

	 		 	proceeding. This provision shall survive termination of this Agreement for any
reason whatsoever.
	 
	 	(f)	 	Assignment or Transfer. (i) Section 7 is hereby amended to read in its
entirety as follows:
	 
	 	 	 	“Subject to Section 6(b)(ii) and Part 5(h), and except for the assignment by way of
Security in favor of the Indenture Trustee under the Indenture, neither Party A nor
Party B is permitted to assign, novate or transfer (whether by way of security or
otherwise) as a whole or in part any of its rights, obligations or interests under
this Agreement or any Transaction without the prior written consent of the other
party and satisfaction of the Rating Agency Condition with respect to the proposed
assignment, novation or transfer; provided, however, that on at least five Business
Days’ prior written notice to Party B, and provided that the Rating Agency Condition
has been satisfied with respect to the proposed assignment, novation or transfer,
Party A may (i) make such a transfer of this Agreement pursuant to a consolidation
or amalgamation with, or merger with or into another entity to the resulting,
surviving or transferee entity or (ii) at its own expense, transfer all or
substantially all of its rights and obligations with respect to this Agreement to
any Person, including, without limitation, another of Party A’s offices, branches or
affiliates (any such Person, office, branch or affiliate, a “Transferee”), provided
that:

	 	(1)	 	such Transferee agrees to be bound by, inter
alia, the payment, transfer and collateral terms of this Agreement
(including any Transactions hereunder) and substantially all other
terms as the party which it replaces;
	 
	 	(2)	 	such Transferee is an Eligible Replacement;
	 
	 	(3)	 	a Termination Event or an Event of Default does
not occur under this Agreement as a result of such transfer; and
	 
	 	(4)	 	as of the date of such transfer, neither the
Transferee nor Party B will be required to withhold or deduct any
increased amount on account of any Taxes under this Agreement as a
result of such transfer.

	 	 	 	Notwithstanding the foregoing, Party A may transfer this Agreement, any of
its interest or obligations in or under this Agreement, or any one or more
Transactions to any of Party A’s Affiliates, provided that (i) Party B is
furnished with a guaranty by a guarantor that is reasonably acceptable to
Party B (such guaranty subject to satisfaction of the Rating Agency
Condition), of such transferor’s obligations and (ii) an Event of Default or
a Termination Event does not occur as a result of such transfer.
	 
	 	(ii)	 	Upon any transfer by Party A pursuant to Section 7 of this
Agreement, Party A agrees to provide Party B with the name and address of the
Transferee so that Party B may fulfill the requirements to record the transfer
on its books and records, and, notwithstanding anything to the contrary herein,
any failure by Party A to do so will render the transfer void. It shall be a
condition of such assignment however, that (A) as a result thereof, Party B
will not (x) be required to pay the Transferee under Section 2(d)(i)(4) an
amount in respect of an Indemnifiable Tax greater than the amount Party B would
have been obligated to pay absent such assignment or transfer, or (y) receive a
payment in an amount

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	 	 	 	that is less than the amount that Party B would have received absent such
assignment or transfer, which reduction is due to a deduction or withholding
for or on account of a Tax with respect to which an additional amount is not
required to be paid under Section 2(d)(i)(4) and (B) the Transferee will
make tax representations and provide any tax forms requested by Party B.
Both Party A and the Transferee are, at the time of the transfer, “dealers
in notional principal contracts” as that term is used in Section 1.1001-4 of
the Regulations.

	 	(g)	 	Waiver of Setoff. Notwithstanding any provision of this Agreement or any other
existing or future agreement, each of Party A and Party B irrevocably waives any and
all rights it may have to setoff, net, recoup or otherwise withhold or suspend or
condition payment or performance of any obligations between Party A and Party B
hereunder, or against any obligations between Party A and Party B under any other
agreements otherwise outside of this Agreement. Section 6(e) of this Agreement shall
be amended by the deletion of the following sentence: “The amount, if any, payable in
respect of an Early Termination Date and determined pursuant to this Section will be
subject to any Set-off.”
	 
	 	(h)	 	Party A Downgrade Provision. If a Ratings Event I (as defined below) shall
occur and be continuing with respect to Party A, then Party A shall, provided that the
Rating Agency Condition is satisfied, either (a)(I) in the case of a Ratings Event I
that occurs with respect to S&P, within 10 Business Days, or (II) in the case of a
Ratings Event I that occurs with respect to Moody’s or Fitch, within 30 calendar days,
after the occurrence of a Ratings Event I post Eligible Collateral (as defined in the
Credit Support Annex), (b) within 30 calendar days after the occurrence of a Ratings
Event I, transfer, at its own expense, Party A’s rights and obligations under this
Agreement and all Confirmations to another party, (c) within 30 calendar days after the
occurrence of a Ratings Event I, provide, at its own expense, a guaranty in respect of
all Party A’s present and future obligations under this Agreement or (d) within 30
calendar days after the occurrence of a Ratings Event I, take such other actions as may
reasonably be requested by the Indenture Trustee (as such term is defined in the
Indenture). However, upon the occurrence of a Ratings Event II (as defined below),
Party A shall then, provided that the Rating Agency Condition is satisfied, at its own
expense, transfer its rights and obligations under this Agreement and all Confirmations
within 10 Business Days of the date of the Ratings Event II. Party A’s obligations to
find a transferee or to post Eligible Collateral under the Credit Support Annex in the
case of a Ratings Event I, or to find a transferee in the case of a Ratings Event II,
shall remain in effect only for so long as the applicable event is continuing with
respect to Party A.
	 
	 	 	 	For the purpose of this Part 5(h), a “Ratings Event I” shall occur with respect to
Party A (a) with respect to Moody’s, if Party A’s counterparty risk or financial
program rating, as applicable, is withdrawn, suspended or reduced below “A2” by
Moody’s (a “Moody’s First Trigger Rating Event”), (b) with respect to S&P, if
Party A’s counterparty risk or financial program rating, as applicable, is
withdrawn, suspended or reduced below “A+” (an “S&P First Trigger Rating Event”),
and (c) with respect to Fitch, the Fitch Rating is reduced below “A” (a “Fitch First
Trigger Rating Event”).
	 
	 	 	 	For purposes of this Part 5(h) a “Ratings Event II” shall occur with respect to
Party A (a) with respect to Moody’s, if Party A’s counterparty risk or financial
program rating, as applicable, is withdrawn, suspended or reduced below “A3” by
Moody’s (a “Moody’s Second Trigger Rating Event”), (b) with respect to S&P, (I) if
Party A is a Financial

31

 

	 	 	 	Institution, Party A’s counterparty risk or financial program rating, as applicable,
is withdrawn, suspended or reduced below “BBB+” or (II) if Party A is not a
Financial Institution, Party A’s counterparty risk or financial program rating, as
applicable, is withdrawn, suspended or reduced below “A+” (an “S&P Second Trigger
Rating Event”) and (c) with respect to Fitch, the Fitch Rating is reduced below
“BBB-” (a “Fitch Second Trigger Rating Event”).
	 
	 	 	 	Notwithstanding the foregoing, the definitions of “Ratings Event I” and “Ratings
Event II” may be amended by Party A and Party B without the written consent of any
of the holders of the Notes as long as each Rating Agency confirms in writing that
such amendment will not cause the reduction, suspension or withdrawal of the then
current rating on any of the Notes.
	 
	 	 	 	If Party A fails to take any of the remedial actions set forth in this Part 5(h), an
Additional Termination Event shall have occurred pursuant to Part 1(q)(B) of this
Schedule and Party A shall be the sole Affected Party with respect to such
Additional Termination Event.
	 
	 	(i)	 	Acknowledgement of Security Interest. Party A hereby acknowledges that Party B
has granted a security interest in its rights under this Agreement and has assigned
this Agreement to the Indenture Trustee pursuant to the Indenture, and consents
thereto, and Party A hereby consents to any transfer of such rights pursuant to an
exercise of creditor’s remedies in respect of such security interest or assignment.
Party A hereby agrees that, unless notified in writing by the Indenture Trustee of
other payment instructions, any and all amounts payable by Party A to Party B under
this Agreement shall be paid to the Indenture Trustee at the account specified in the
Confirmation. Any payments in accordance with the provisions hereof (or in accordance
with any instructions from the Indenture Trustee) by Party A to Party B shall fully
release Party A from any further liability to Party B in respect to such payment.
	 
	 	(j)	 	No Third Party Beneficiaries. (a) This Agreement is made for the benefit of,
and shall be enforceable by, each of the parties hereto and (b) nothing in this
Agreement shall confer any rights upon, nor shall this Agreement be construed to create
any rights in, any person that is not a party to this Agreement.
	 
	 	(k)	 	Priority of Payments. Any amounts due and payable by Party B hereunder shall
be paid in the manner and priority set forth in the Indenture.
	 
	 	(l)	 	Limited Recourse. Party A hereby acknowledges and agrees that Party B’s
obligations hereunder will be solely the limited recourse obligations of Party B
payable solely in accordance with the priority of payments set out in the Indenture,
and that Party A will not have any recourse to any of the directors, officers,
employees or affiliates of Party B or holders of a beneficial interest in Party B with
respect to any claims, losses, damages, liabilities, indemnities or other obligations
in connection with any transactions contemplated hereby; provided, however, Party A
shall not be precluded from declaring an Event of Default or from exercising any other
right or remedy as set forth in this Agreement. Notwithstanding any other provisions
hereof, recourse in respect of any obligations of Party B to Party A hereunder or
thereunder will be limited to the Collateral and on the exhaustion thereof all claims
against Party B arising from this Agreement shall be extinguished.

32

 

	 	 	 	Notwithstanding anything contained herein to the contrary, this Agreement (including
any related confirmations and credit support annexes) has been countersigned by BNYM
(Delaware) not in its individual capacity but solely in its capacity as Owner
Trustee of Party B and in no event shall BNYM (Delaware) in its individual capacity
have any liability for the representations, warranties, covenants, agreements or
other obligations of Party B hereunder, as to all of which recourse shall be had
solely to the assets of Party B.
	 
	 	(m)	 	Certain Defined Terms. Capitalized terms used but not defined in this
Agreement shall have the meanings given to such terms in the Indenture.
	 
	 	 	 	“Indenture” means that certain Indenture dated as of February 21, 2008,
between, amongst others, Party B, as Issuer and Citibank, N.A. as Indenture Trustee.
	 
	 	 	 	“Eligible Replacement” means (i) an entity that satisfies the Ratings Event I
Required Ratings and/or the Ratings Event II Required Ratings or (ii) an entity
whose present and future obligations owing to Party B are guaranteed pursuant to an
Eligible Guarantee by a guarantor that satisfies the Ratings Event I Required
Ratings and/or Ratings Event II Required Ratings.
	 
	 	 	 	“Financial Institution” means (i) a bank, broker/dealer, insurance company,
structured investment vehicle or derivative product company or (ii) Goldman Sachs
Mitsui Marine Derivative Products, L.P.
	 
	 	 	 	“Fitch” means Fitch Inc., Fitch Ratings, Ltd. and their respective subsidiaries
including Derivative Fitch, Inc. and Derivative Fitch Ltd. or any successor or
successors thereto.
	 
	 	 	 	“Fitch Rating” in relation to Party A shall mean on any date the lower of the Fitch
equivalent rating of (i) the S&P counterparty risk or financial program rating of
Party A and (ii) the Moody’s counterparty risk or financial program rating of Party
A.
	 
	 	 	 	“Moody’s” means Moody’s Investors Service, Inc. or any successor thereto.
	 
	 	 	 	“S&P” means Standard & Poor’s Ratings Service, a division of the McGraw-Hill
Companies, Inc. or any successor thereto.
	 
	 	 	 	“Rating Agency” means each of Fitch, Moody’s and S&P.
	 
	 	 	 	“Ratings Event I Required Ratings” means the minimum ratings of a relevant entity
from all the Rating Agencies in order not to trigger a Ratings Event I.
	 
	 	 	 	“Ratings Event II Required Ratings” means the minimum ratings of a relevant entity
from all the Rating Agencies in order not to trigger a Ratings Event II.
	 
	 	(n)	 	No Recourse Against Party A. The Notes represent a beneficial interest in the
property of the Trust only and do not represent an interest in or obligation of
Party A. No holder of a Note shall have any recourse against Party A or its assets
with respect to the Notes or this Agreement.
	 
	 	(o)	 	Regarding Party A. The Trust acknowledges and agrees that Party A had no
involvement in, and, accordingly, accepts no responsibility for: (i) the establishment,
structure, or choice of assets of the Trust or any series; (ii) the selection of any
person performing services for or acting on behalf of the Trust; (iii) the selection of
Party A as a

33

 

	 	 	 	swap provider; (iv) the terms of the Notes or the economic terms of any Transaction
entered into with the Trust pursuant to this Agreement; (v) the preparation of or
passing on the disclosure and other information contained in any offering circular,
prospectus, series supplement, trust deed, or any other agreements or documents used
by the Trust or any other party in connection with the marketing and sale of the
Notes; (vi) the ongoing operations and administration of the Trust, including the
furnishing of any information to the Trust which is not specifically required under
this Agreement; or (vii) any other aspect of the Trust’s existence except for those
matters specifically identified in this Agreement.
	 
	 	(p)	 	Limitation of Liability. No party shall be required to pay or be liable to the
other party for any consequential, indirect or punitive damages, opportunity costs or
lost profits.
	 
	 	(q)	 	Regulation AB Financial Disclosure. Party A acknowledges that for so long as
there are reporting obligations with respect to any Transaction under this Agreement
under Regulation AB, DaimlerChrysler Financial Services Americas LLC, as Depositor
under the Indenture (the “Depositor”) is required under Regulation AB to disclose
certain information set forth in Regulation AB regarding Party A or its group of
affiliated entities, if applicable, depending on the aggregate “significance
percentage” of this Agreement and any other derivative contracts between Party A or its
group of affiliated entities, if applicable, and Party B, as calculated from time to
time in accordance with Item 1115 of Regulation AB.
	 
	 	 	 	If the Depositor determines, reasonably and in good faith, that the “significance
percentage” of this Agreement has increased to 10%, then on any Business Day after
the date of such determination the Depositor may request from Party A the
information set forth in Item 1115(b) of Regulation AB (such request, a “Swap
Financial Disclosure Request” and such requested information, subject to the last
sentence of this paragraph, the “Swap Financial Disclosure”). Party A and Party B
further agree that the Swap Financial Disclosure provided to meet the Swap Financial
Disclosure Request will be the information set forth in Item 1115(b)(1) or Item
1115(b)(2) of Regulation AB, as applicable, and as specified by Party B.
	 
	 	 	 	Upon the occurrence of a Swap Financial Disclosure Request, Party A, at its own
expense, shall within 15 days after receipt of such Swap Financial Disclosure
Request (i) provide the Depositor with the Swap Financial Disclosure, (ii) subject
to satisfaction of the Rating Agency Condition and approval by Party B (which
approval will not be unreasonably withheld), secure another entity to replace Party
A as party to this Agreement on terms substantially similar to this Agreement which
entity is able and will provide the Swap Financial Disclosure for such entity within
the time period specified above or (iii) subject to satisfaction of the Rating
Agency Condition and approval by Party B (which approval will not be unreasonably
withheld), obtain a guaranty of Party A’s obligations under this Agreement from an
affiliate of Party A that is able to provide the Swap Financial Disclosure for such
affiliate, such that disclosure provided in respect of the affiliate will satisfy
any disclosure requirements applicable to Party A, and cause such affiliate to
provide Swap Financial Disclosure within the time period specified above. If
permitted by Regulation AB, any required Swap Financial Disclosure may be provided
by incorporation by reference from reports filed pursuant to the Exchange Act.

[Signature Pages Follow]

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     IN WITNESS WHEREOF the parties have executed this document on the respective dates specified
below with effect from the date specified on the first page of this Agreement:

	 	 	 	 	 	 	 
	 	 	GOLDMAN SACHS MITSUI MARINE DERIVATIVE PRODUCTS,
L.P.
	 
	 	 	 	 	 	 
	 

	 	By:
	 	GSMMDPGP, INC.,

its general partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/  Donna Mansfield	 	 
	 

	 	 	 	 

Name:  Donna Mansfield		 
	 

	 	 	 	Title:    Vice President	 	 
	 

	 	 	 	Date:	 	 
	 
	 	 	 	 	 	 
	 	 	DAIMLERCHRYSLER AUTO TRUST 2008-A
	 
	 	 	 	 	 	 
	 

	 	By:
	 	BNYM (DELAWARE)	 	 
	 
	 	 	 	 	 	 
	 	 	not in its individual capacity but solely as Owner Trustee
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Kristine K. Gullo	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	Kristine K. Gullo	 	 
	 

	 	Title:	 	Vice President	 	 

GS/DCAT 2008-A FRONT END SWAP SCHEDULE

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