Document:

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                                                                    Exhibit 4(i)

(MULTICURRENCY--CROSS BORDER)

                                 [ISDA(R) LOGO]

                  International Swap Dealers Association, Inc.

                                MASTER AGREEMENT

                      dated as of September 25,2003 between

  GE COMMERCIAL EQUIPMENT             AND            DEUTSCHE BANK AG, NEW YORK
FINANCING LLC, SERIES 2003-1                                  BRANCH
       ("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 purposes 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.

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(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.

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         (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)).

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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.

(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,

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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 OF 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

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         described) in respect of such party, any Credit Support Provider of
         such party or any applicable Specified 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

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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 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.

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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, (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)(l) 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)(l) 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

                                                                    ISDA(R) 1992

                                       8
<PAGE>

         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 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.

                  (3)      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

                                                                    ISDA(R) 1992

                                       9
<PAGE>

                  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.

                  (4)      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.

         (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.

                                                                    ISDA(R) 1992

                                       10
<PAGE>

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.

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 tbe 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.

                                                                    ISDA(R) 1992

                                       11
<PAGE>

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.

(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 he entered into as soon as
         practicable and may he 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

                                                                    ISDA(R) 1992

                                       12
<PAGE>

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;

         (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

                                                                    ISDA(R) 1992

                                       13
<PAGE>

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.

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.

                                                                    ISDA(R) 1992

                                       14
<PAGE>

"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 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)(l) 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

                                                                    ISDA(R) 1992

                                       15
<PAGE>

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 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 meanings specified in the Schedule.

                                                                    ISDA(R) 1992

                                       16
<PAGE>

"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.

"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

                                                                    ISDA(R) 1992

                                       17
<PAGE>

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.

         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.

GE COMMERCIAL EQUIPMENT                        DEUTSCHE BANK AG, NEW YORK BRANCH
FINANCING LLC, SERIES 2003-1

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

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

                                             Deutsche Bank ISDA Master Agreement

                                      -18-<PAGE>

                                                                    Exhibit 4(j)

                                    SCHEDULE

                                     TO THE

                                MASTER AGREEMENT

                         DATED AS OF SEPTEMBER 25, 2003

                                     BETWEEN

    GE COMMERCIAL EQUIPMENT FINANCING LLC, SERIES 2003-1, a limited liability
                                    company
          organized under the laws of the State of Delaware ("Party A")

                                       AND

                       DEUTSCHE BANK AG, NEW YORK BRANCH,
                      a German banking company ("Party B")

                                     PART 1

                             TERMINATION PROVISIONS

In this Agreement:

         (a)      "Specified Entity" means in relation to Party A and Party B
for the purpose of Sections 5(a)(v), (vi), (vii) and Section 5(b)(iv): Not
applicable.

         (b)      "Specified Transaction" will have the meaning specified in
Section 14 of this Agreement.

         (c)      The "Credit Support Default" provision of Section 5(a)(iii)
will not apply to Party A and will apply to Party B.

         (d)      The "Breach of Agreement" provision of Section 5(a)(ii) will
not apply to Party A and will not apply to Party B.

         (e)      The "Misrepresentation" provision of Section 5(a)(iv) will not
apply to Party A and will not apply to Party B.

         (f)      The "Default under Specified Transaction" provision of Section
5(a)(v) will not apply to Party A or Party B.

         (g)      The "Cross Default" provisions of Section 5(a)(vi) will not
apply to Party A and will not apply to Party B.

         (h)      The "Credit Event Upon Merger" provisions of Section 5(b)(iv)
will not apply to Party A and will not apply to Party B.

<PAGE>

         (i)      The "Automatic Early Termination" provisions of Section 6(a)
will not apply to Party A and will not apply to Party B.

         (j)      Payments on Early Termination. For the purpose of Section 6(e)
of this Agreement:

                  (i)      Market Quotation will apply unless Party A is the
         Non-defaulting Party or the party which is not the Affected Party, as
         the case may be, and Party B fails to replace itself pursuant to Part
         1(l) or Part 5(d)(iii) of this Schedule, in which event Loss will
         apply.

                  (ii)     The Second Method will apply.

         (k)      "Termination Currency" means United States Dollars.

         (l)      Additional Termination Event will apply. The following shall
constitute Additional Termination Events in which Party B shall be the sole
Affected Party:

                  (i)      Credit Downgrade - Party B. If at any time (i) the
         short-term unsecured debt rating of Party B is withdrawn by or reduced
         below "F-1" if rated by Fitch Ratings ("Fitch"); or (ii) the short-term
         unsecured debt rating of Party B is withdrawn by or reduced below "A-1"
         by Standard & Poor's Rating Services ("S&P") (or in the absence of a
         short-term debt rating, the long-term unsecured debt rating of Party B
         is withdrawn or reduced below "A+"); or (iii) if Party B's (a)
         long-term unsecured debt rating by Moody's Investors Service, Inc.
         ("Moody's") is withdrawn, reduced or put on watch for downgrade below
         "A1" or its short-term unsecured debt rating is withdrawn, reduced or
         put on watch for downgrade below "P-1", where Party B has both a
         long-term and a short-term unsecured debt ratings, (b) the long-term
         unsecured debt rating is withdrawn, reduced or put on watch below "Aa3"
         where Party B has only a long-term unsecured debt rating (any such
         withdrawal or reduction, a "Downgrade"), then Party B shall promptly
         notify Party A by telephone (promptly confirmed in writing), and Party
         A then shall notify the Rating Agencies. Party B shall then, at its own
         expense, (in consultation with Party A), (1) within 30 days of the date
         of such Downgrade if Moody's is the downgrading Rating Agency or (2)
         promptly after such Downgrade if S&P is the downgrading Rating Agency,
         enter into a "Qualifying Substitute Arrangement" (as defined below) to
         assure performance by Party B of its obligations under the
         Transactions.

                  "Qualifying Substitute Arrangement" shall mean any arrangement
         satisfactory to the Rating Agencies, including (i) procuring a Letter
         of Credit Transaction with terms reasonably satisfactory to Party A and
         procuring a Ratings Reaffirmation; (ii) electing in writing to the
         Servicer to pledge collateral subject to the terms of an ISDA Credit
         Support Annex to be negotiated between the parties at such time and, if
         Moody's is the downgrading Rating Agency, such collateral posted shall
         be equal to the daily mark-to-market value of the Transactions, if S&P
         is the downgrading Ratings Agency, (1) such collateral posted shall be
         an amount equal to the greater of (a) the mark-to-market value of the
         Transactions, (b) the amount owed by Party B on the next succeeding
         Payment

                                       2

<PAGE>

         Date and (c) one percent (1%) of the outstanding Notional Amount of
         each Transaction, (2) Party B must post collateral pursuant to this
         sub-paragraph (ii) if it has failed to satisfy the requirements under
         (i), (iii) or (iv) of this paragraph within 30 days of such Downgrade
         and (3) Party B shall remain obligated to take such action to satisfy
         the requirements set forth in (i), (iii) or (iv) of this paragraph;
         (iii) procuring a Replacement Transaction with terms reasonably
         satisfactory to Party A which replaces all Transactions outstanding
         under this Agreement with Transactions on identical terms and procuring
         a Ratings Reaffirmation; or (iv) taking such other action (if any) as
         the downgrading Rating Agency shall require to nullify the effect of
         such Downgrade on the ratings on the Notes and procuring a Ratings
         Reaffirmation. Notwithstanding the previous sentence, if Party B's (a)
         long-term unsecured debt rating by Moody's is reduced to "A2" or below
         where Party B has only a long-term unsecured debt rating or (b)
         long-term and short-term unsecured debt rating by Moody's is reduced to
         "A3" or below or "P-2" or below, respectively, where Party B has both a
         long-term and a short-term debt rating, Party B must find a Replacement
         Transaction pursuant to sub-paragraph (iii) above.

                  "Counterparty Ratings Requirement" means with respect to any
         entity, either such entity or the guarantor of such entity,
         respectively, has (i) (a) a Moody's long-term unsecured debt rating of
         at least "Aa3" where the entity or guarantor has only a long-term
         unsecured debt rating (b) a Moody's long-term and short-term unsecured
         debt rating of at least "A1" and "P-1", respectively, where the entity
         or guarantor has both a long-term and a short-term debt rating (ii) if
         such entity or guarantor, respectively, has an S&P short term unsecured
         debt rating, an S&P short-term unsecured debt rating of at least "A-1"
         (or in the absence of a short-term debt rating, the long-term unsecured
         debt rating of such entity or guarantor, respectively, is at least
         "A+") and (iii) if such entity or guarantor, respectively, has a Fitch
         short-term unsecured debt rating, a Fitch short-term unsecured debt
         rating of at least "F-1".

                   "Ratings Reaffirmation" means a acknowledgement from a Rating
         Agency whose rating on the Class A Notes or the Class B Notes was
         reduced or withdrawn, that the then-current rating of the Class A Notes
         or the Class B Notes (without giving effect to the relevant Downgrade)
         will not be reduced notwithstanding the applicable Downgrade.

                  "Replacement Transaction" means a transaction with a
         replacement counterparty meeting the Counterparty Rating Requirements
         who shall assume, at no cost to Party A, Party B's position under this
         Agreement and all Transactions hereunder.

                  (ii)     Breach of Warranty. Any Warranty made or deemed to
         have been made or repeated by Party B in this Agreement proves to have
         been incorrect when made or repeated or deemed to have been made or
         repeated.

         (m)      Discontinued Agency. If one of the foregoing credit rating
agencies ceases to be in the business of rating Debt Securities and such
business is not continued by a successor or assign of such agency (the
"Discontinued Agency"), Party A and Party B shall jointly (i) select a
nationally-recognized credit rating agency in substitution thereof and (ii)
agree on the rating level issued by such substitute agency that is equivalent to
the ratings specified herein of the Discontinued Agency, whereupon such
substitute agency and equivalent rating shall replace the

                                       3

<PAGE>

Discontinued Agency and the rating level thereof for the purposes of this
Agreement. If at any time all of the agencies specified herein with respect to a
party have become Discontinued Agencies and Party A and Party B have not
previously agreed in good faith on at least one agency and equivalent rating in
substitution for a Discontinued Agency and the applicable rating thereof, the
Credit Downgrade provision of Part 1(l) of this Agreement shall cease to apply
to the parties. For the avoidance of doubt, failure by either party to comply
with this paragraph shall not constitute an Event of Default or Termination
Event with respect to such party.

                                     PART 2

                               TAX REPRESENTATIONS

         (a)      Payer Tax Representations. For the purposes of Section 3(e) of
this Agreement, Party A 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 Party A under this Agreement.
                  In making this representation, each party 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
                  sub-clause (ii) above 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 Tax Representations. (i) For the purposes of Section
3(f) of this Agreement, Party A makes only the following representation: Party A
is a limited liability company formed under the laws of the State of Delaware.

                  (ii)     For the purposes of Section 3(f) of this Agreement,
         Party B makes only the following representation: It is a "foreign
         person" within the meaning of the applicable U.S. Treasury Regulations
         concerning information reporting and backup withholding tax (as in
         effect on January 1, 2001), unless Party B provides written notice to
         Party B that it is no longer a foreign person. In respect of each
         Transaction it enters into through an office or discretionary agent in
         the United States or which otherwise is allocated for United States
         trade or business, each payment received or to be received by it under
         such Transaction will be effectively connected with its conduct of a
         trade or business in the United States.

         (c)      Modified Tax Provisions. Party A's obligations under Section
         2(d)(i) of this Agreement shall be limited to complying with clauses
         (1), (2) and (3) thereof and Party A shall not be obligated to pay any
         amount owing by it under clause (4).

                                       4

<PAGE>

                                     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: Each
party agrees to complete (accurately and in a manner reasonably satisfactory to
the other party), execute, arrange for any required certification of, and
deliver to the other party or such government or taxing authority as the other
party directs, any form or document that may be required or reasonably requested
in order to allow the other party to make a payment under this Agreement without
any deduction or withholding for or on account of any Tax or with such
deductions or withholding at a reduced rate.

         (b)      Other documents to be delivered are:

<TABLE>
<CAPTION>
                                                                                                   COVERED BY
PARTY REQUIRED TO                 FORM/DOCUMENT/                   DATE BY WHICH TO BE            SECTION 3(d)
DELIVER DOCUMENT                   CERTIFICATE                         DELIVERED                 REPRESENTATION
---------------------------------------------------------------------------------------------------------------
<S>                        <C>                                   <C>                             <C>
Party A and                Such proof of the names, true         Upon execution of this                Yes
Party B                    signature and authority of persons    Agreement.
                           signing this agreement and any
                           Confirmations as the other party
                           may reasonably request
---------------------------------------------------------------------------------------------------------------
Party A                    Audited annual consolidated           Promptly upon demand by               Yes
                           financial statements of General       Party A and following
                           Electric Capital Services, Inc.,      such financial
                           prepared in accordance with           statements being made
                           accounting principles that are        publicly available.
                           generally accepted in the United
                           States.
---------------------------------------------------------------------------------------------------------------
Party B                    Audited annual consolidated           Promptly upon demand by               Yes
                           financial statements of Party B       Party A and following
                           prepared in accordance with           such financial
                           accounting principles that are        statements being made
                           generally accepted in the United      publicly available.
                           States.
---------------------------------------------------------------------------------------------------------------
Party A and Party B        Legal opinion in a form               Promptly following the                No
                           satisfactory to the other party.      execution of this
                                                                 Agreement.
</TABLE>

                                       5

<PAGE>

                                     PART 4

                                  MISCELLANEOUS

(a)      Addresses for Notices. For the purpose of Section 12(a) of this
         Agreement:

         Address for notices or communications to Party B:

         All notices to Party B under Sections 5 or 6 of the Agreement (other
         than notices under Section 5(a)(i)) shall be sent to:

                  Deutsche Bank AG, Head Office
                  Taunusanlage 12
                  60262 Frankfurt
                  GERMANY
                  Attention:  Legal Department
                  Fax No.     4969910 36097
                  Telex No:   411836 or 416731 or 41233
                  Answerback: DBF-D

                  with a copy to

                  Deutsche Bank AG, New York Branch
                  60 Wall Street
                  New York, NY 10005
                  Attention: Legal Department

         All other notices to Party A shall be sent directly to the office
         through which Party A is acting for the relevant Transaction, using the
         address and contact particulars specified in the Confirmation of that
         Transaction or otherwise notified.

         Address for notices or communications to Party A:

         Address:   c/o General Electric Capital Services, Inc.
                    44 Old Ridgebury Road
                    Danbury, CT  06810

         Attention: Capital Markets Operations
         Telephone: 203-796-5518
         Facsimile: 203-796-5554

(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:

                                       6

<PAGE>

                    Deutsche Bank AG, New York Branch
                    60 Wall Street
                    New York, NY 10005
                    Attention: Legal Department

         (c)      Offices. The provisions of Section 10(a) shall apply to this
Agreement and shall be interpreted as an express agreement of the head or home
office to be bound unconditionally and irrevocably by the terms of this
Agreement and to perform the obligations of the Office party to this Agreement
if such Office cannot perform any of its obligations hereunder.

         (d)      Multibranch Party. For the purpose of Section 10, Party A is
not a Multibranch Party, and Party B is not a Multibranch Party.

         (e)      Calculation Agent. The Calculation Agent shall be Party B;
provided, however, if an Event of Default has occur with respect to Party B, the
Calculation Agent shall be the Trustee or a Reference Market-maker selected by
both parties mutually.

         (f)      Credit Support Document. With respect to Party A: none. With
respect to Party B: none (except with respect to Part 1(l) hereof).

         (g)      Credit Support Provider. With respect to Party A: none and
with respect to Party B: none.

         (h)      GOVERNING LAW. THIS AGREEMENT WILL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, INCLUDING
SECTION 1504(1) OF THE GENERAL OBLIGATIONS LAW, BUT WITHOUT REFERENCE TO ANY
OTHER CONFLICT OF LAW PROVISION THEREOF.

         (i)      Netting of Payments. Section 2(c)(ii) of this Agreement will
apply to any Transactions from the date of this Agreement.

         (j)      "Affiliate" will have the meaning specified in Section 14;
provided, however, that Section 3(c) of this Agreement is hereby amended by
deleting the words "or any of its Affiliates" in the first and second lines
thereof.

                                     PART 5

                                OTHER PROVISIONS

         (a)      Recourse and Ranking. The obligations of Party A under this
Agreement, and under any Transaction executed hereunder, are solely the
obligations of Party A. No recourse shall be had for the payment of any amount
owing in respect of any Transaction or any other obligation or claim arising out
of or based upon this Agreement against any member, employee, officer, director
or agent of Party A. Any accrued obligations owing by Party A under this
Agreement and any Transaction shall be payable by Party A solely to the extent
that funds are available therefor from time to time in accordance with the
provisions of the Indenture; provided that such accrued obligations shall not be
extinguished until paid in full. Notwithstanding any provisions contained in
this Agreement to the contrary, Party A shall not be obligated to pay any

                                       7

<PAGE>

amount pursuant to this Agreement unless Party A has received funds which may be
used to make such payment and such payment is made in advance in accordance with
the Indenture. Any amount which Party A does not pay pursuant to the operation
of the preceding sentence shall not constitute a claim (as defined in Section
101 of the Bankruptcy Code) against or corporate obligation of Party A for any
such insufficiency unless and until such payment is permitted under such
preceding sentence.

         (b)      Limitation of Defaults and Termination. Notwithstanding the
terms of Sections 5 and 6 of this Agreement, Party B shall be entitled to
designate an Early Termination Date pursuant to Section 6 of this Agreement only
as a result of the occurrence of an Event of Default set forth in Section
5(a)(i) or 5(a)(vii) with respect to Party A as the Defaulting Party or a
Termination Event set forth in Sections 5(b)(i) or 5(b)(ii) of this Agreement
with respect to Party B as the Affected Party.

         (c)      No Bankruptcy Petition Against the Company. Party B hereby
covenants and agrees that, prior to the date which is one year and one day after
all the Notes (or any rated securities) issued by Party A have been paid in full
it will not institute against, or join any other Person in instituting against,
Party A any bankruptcy, reorganization, arrangement, insolvency or liquidation
proceedings or other similar proceeding under the laws of the United States or
any state of the United States.

         (d)      Transfers. (i) Section 6(b)(ii) of this Agreement is amended
by inserting the following phrase at the end of such Section immediately before
the final period: "provided that any such transfer by Party A under this Section
6(b)(ii) shall not be subject to or conditional upon the prior written consent
of Party B if (w) Party B will not, as a result of such transfer be required on
the next succeeding Scheduled Payment Date to pay to transferee an amount in
respect of an Indemnifiable Tax under Section 2(d)(i)(4) (except in respect of
default interest) greater than the amount in respect of which Party B would have
been required to pay to Party A in the absence of such transfer, (x) the
transferee will not, as a result of such transfer, be required on the next
succeeding Scheduled Payment Date to withhold or deduct on account of
Indemnifiable Tax under Section 2(d)(i) (except in respect of default interest)
amounts in excess of that which it would, on the next succeeding Scheduled
Payment Date, have been required to so withhold or deduct in the absence of such
transfer unless it would be required to make additional payments pursuant to
Section 2(d)(i)(4) corresponding to such excess (y) a Termination Event or Event
of Default does not occur as a result of such transfer and (z) Party A obtains a
Ratings Reaffirmation prior to such transfer. With respect to the result
described in subclauses (w) and (x), Party A agrees to cause such transferee to
make, and Party B agrees to make, such Payee Tax Representations and Payer Tax
Representations as may be reasonably requested by the other party in order to
permit such other party to determine that such result will not occur after such
transfer".

                  (ii)     Notwithstanding Section 7 of this Agreement, Party A
         shall be entitled (but not required) to assign its rights and
         obligations with respect to any forward currency exchange agreement,
         any spot foreign currency exchange agreement or any other Transaction
         permitted hereunder to any of its Affiliate with respect to the
         Collateral.

                                       8

<PAGE>

                  (iii)    Subject to Section 6(b), and except as expressly
         provided herein, neither this Agreement nor any interest or obligation
         in or under this Agreement or the Transaction(s) may be transferred by
         Party B without the prior written consent of Party A and without
         obtaining a Ratings Reaffirmation prior to such transfer (other than
         pursuant to a consolidation or amalgamation with, or merger in to, or
         transfer of all or substantially all of Party A's assets to, another
         entity) and any purported transfer without such consent will be void.
         Notwithstanding anything to the contrary in this Schedule or this
         Agreement, Party B may transfer without the prior written consent of
         Party A, this Agreement, any of its interests and obligation in and
         under this Agreement or the Transaction(s) to another of Party B's
         offices, branches or Affiliates on two Business Days' prior written
         notice; provided, however, that (v) if such transfer is to an entity
         other than Party B such notice shall be accompanied by a Guarantee of
         such transferee's obligations in form and substance satisfactory to
         Party A, (w) Party A will not, as a result of such transfer be required
         on the next succeeding Scheduled Payment Date to pay to transferee an
         amount in respect of an Indemnifiable Tax under Section 2(d)(i)(4)
         (except in respect of default interest) greater than the amount in
         respect of which Party A would have been required to pay to Party B in
         the absence of such transfer, (x) the transferee will not, as a result
         of such transfer, be required on the next succeeding Scheduled Payment
         Date to withhold or deduct on account of Indemnifiable Tax under
         Section 2(d)(i) (except in respect of default interest) amounts in
         excess of that which it would, on the next succeeding Scheduled Payment
         Date, have been required to so withhold or deduct in the absence of
         such transfer unless it would be required to make additional payments
         pursuant to Section 2(d)(i)(4) corresponding to such excess, (y) a
         Termination Event or Event of Default does not occur as a result of
         such transfer and (z) Party B has obtained Ratings Reaffirmation prior
         to such transfer. With respect to the result described in subclauses
         (w) and (x), Party B agrees to cause such transferee to make, and Party
         A agrees to make, such Payee Tax Representations and Payer Tax
         Representations as may be reasonably requested by the other party in
         order to permit such other party to determine that such result will not
         occur after such transfer.

         (e)      Amendment. No assignments, amendment, modification or waiver
in respect of this Agreement will be effective unless (i) it is in writing and
executed by each of the parties or confirmed by an exchange of telexes or
facsimiles and (ii) except as waived by the Rating Agencies, the Rating Agencies
shall have advised that such assignment or amendment will not result in a
downgrade or withdrawal of the then-current rating on the Class A Notes and the
Class B Notes.

         (f)      Capitalized Terms. Capitalized terms used and not otherwise
defined herein shall have the meanings assigned to them in the Indenture, dated
as of September 25, 2003, among Party A, as Issuer and JPMorgan Chase Bank, as
Indenture Trustee, as amended or supplemented from time to time (the
"Indenture") and the Servicing Agreement, dated as of September 25, 2003, as
amended or supplemented from time to time, among Party A, as Issuer and General
Electric Capital Corporation, as Servicer, as amended or supplemented from time
to time (the "Servicing Agreement").

         (g)      Waiver of Jury Trial. Each party hereto hereby irrevocably
waives any and all right to trial by jury in any Proceedings.

                                       9

<PAGE>

         (h)      Additional Representations. Section 3 of this Agreement is
hereby amended by adding the following additional subsections:

                           (g)      Eligible Contract Participant. It is an
                  "eligible contract participant" as defined in Section 1a(12)
                  of the Commodity Exchange Act, 7 U.S.C. Section 1a(12), and is
                  entering into this Agreement in conjunction with its line of
                  business (including financial intermediation services).

                           (h)      FDICIA/Regulation EE. In addition to the
                  foregoing representations, Party B represents to Party A
                  either that (1) it is a Financial Institution as defined in
                  Section 402(9) of the Federal Deposit Insurance Corporation
                  Improvement Act of 1991, or (2) (A) it will engage in
                  Financial Contracts (as defined in Section 2 of Regulation EE
                  of the Federal Reserve Board (12 C.F.R. Section 231.2)) as a
                  counterparty on both sides of one or more Financial Markets
                  (as defined in Section 2 of Regulation EE of the Federal
                  Reserve Board (12 C.F.R. Section 231.2)), and (B) that, on the
                  date of this Agreement, it meets at least one of the tests set
                  forth in Section 3(a)(1)-(2) of Regulation EE of the Federal
                  Reserve Board (12 C.F.R. Section 231.3(a)(1)-(2)). The
                  representation contained in clause (1) or clause 2(A) of this
                  paragraph (h), as the case may be, will be deemed to be
                  repeated by Party B on each date on which a Transaction is
                  entered into.

                           (i)      No Reliance. This Agreement and each
                  Transaction have been entered into by each party in reliance
                  only upon its judgment, in order to accomplish legitimate
                  business needs. Neither party holds itself out as advising, or
                  any of its employees or agents as having any authority to
                  advise, the other party as to whether or not it should enter
                  into this Agreement or any Transaction. Neither party is
                  receiving any compensation from the other party for providing
                  advice in respect of this Agreement or any Transaction, and
                  any such advice provided to such other party will not form the
                  primary basis for an investment decision by such other party.

         (i)      Consent to Recording. The parties agree that each may
electronically record all telephonic conversations between marketing and trading
personnel in connection with this Agreement and that any such recordings may be
submitted in evidence to any court or in any Proceedings for the purpose of
establishing any matters pertinent to any Transaction.

         (j)      Waiver of Contractual Right of Setoff. Notwithstanding any
provision of this Agreement or any other existing or future agreement, each
party irrevocably waives any and all contractual rights it may have to set off,
net, recoup or otherwise withhold or suspend or condition payment or performance
of any obligation between the two parties hereunder against any obligations
between the two parties under any other agreements or otherwise.

         (k)      Provision of Evidence of Execution and Delivery. The parties
agree that, at or promptly following the execution and delivery of this
Agreement, and, if a Confirmation so requires, on or before the date set forth
therein, each party shall deliver to the other evidence, reasonably satisfactory
in form and substance to the receiving party, concerning the due execution and
delivery of this Agreement or such Confirmation.

                                       10

<PAGE>

         (l)      Confirmations. Notwithstanding anything to the contrary in
this Agreement:

                  (i)      The parties hereto agree that with, respect to each
         Transaction hereunder, a legally binding agreement shall exist from the
         moment that the parties hereto agree on the terms of such Transaction,
         which the parties anticipate will occur orally by telephone or by
         exchange of electronic messages.

                  (ii)     As soon as possible after entering into a Transaction
         hereunder, Party A shall complete a Confirmation in substantially the
         form set forth as an exhibit to the 2000 ISDA Definitions published by
         the International Swaps and Derivatives Association, Inc. (a
         "Confirmation") setting forth the terms agreed by the parties and shall
         execute and send two copies of such Confirmation to Party B. Upon
         execution and return of one copy of the Confirmation by Party B, the
         terms set forth in the Confirmation shall supersede and replace the
         original agreement, and such telephone agreement or electronic messages
         shall thereafter cease to be of any legal force or effect. Failure of
         Party B to sign and return a Confirmation shall not affect the validity
         or enforceability of the relevant Transaction. This Agreement governs
         the Confirmations with the Transaction Reference Numbers N258043N,
         N258123N and N258197N.

         (m)      Additional Tax Provisions. (i) The definition of
"Indemnifiable Tax" in Section 14 of this Agreement is modified by adding the
following at the end thereof:

                  Notwithstanding the foregoing, "Indemnifiable Tax" also means
                  any Tax imposed in respect of a payment under this Agreement
                  by reason of a Change in Tax Law by a government or taxing
                  authority of a Relevant Jurisdiction of the party making such
                  payment, unless the other party is incorporated, organized,
                  managed and controlled or considered to have its seat in such
                  jurisdiction, or is acting for purposes of this Agreement
                  through a branch or office located in such jurisdiction.

                  (ii)     Section 4(a)(iii) of this Agreement is modified by
         deleting the word "materially" in the sixth line thereof.

         (n)      Set-off. The last sentence of the first paragraph of Section
6(e) and the definition of "Set-off" in Section 14 of this Agreement are
deleted.

         (o)      Settlement Amount. The definition of "Settlement Amount" in
Section 14 of this Agreement is hereby amended by deleting in the third and
fourth lines of subparagraph (b) thereof the words "or would not (in the
reasonable belief of the party making the determination) produce a commercially
reasonable result".

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

         (q)      Definitions. Reference is hereby made to the 2000 ISDA
Definitions (the "2000 Definitions"), as published by the International Swaps
and Derivatives Association, Inc. ("ISDA"), and the 1998 ISDA FX and Currency
Option Definitions (the "FX Definitions"), as

                                       11

<PAGE>

published by ISDA, The Emerging Markets Traders Association and The Foreign
Exchange Committee which are hereby incorporated by reference herein. Any terms
used and not otherwise defined herein which are contained in the 2000
Definitions or the FX Definitions shall have the meaning set forth therein,
except that references in the 2000 Definitions to a "Swap Transaction" shall be
deemed to be references to a "Transaction".

         (r)      Warranties Regarding Relationship Between Parties. (i) The
definition of "Affected Transactions" in Section 14 of this Agreement is
modified by adding the following immediately preceding the words "an Illegality"
in the first line thereof:

                  a breach of any Warranty made pursuant to this Agreement,

                  (ii)     Section 14 of this Agreement is modified by adding
         the following new defined term in its appropriate alphabetical
         location:

                  "Warranty" has the meaning specified in Part 5(l)(ii) below.

                  (iii)    Warranties. The following warranties (the
         "Warranties") are made by one or both of the parties to this Agreement,
         as specified below, or, if applicable, any Credit Support Provider of
         any such party, to the other party (which Warranties will be deemed to
         be repeated by each such party on each date on which a Transaction is
         entered into):

                  Status of Parties. Each party warrants to the other party that
                  (1) it is acting for its own account in respect of all
                  Transactions governed by this Agreement, (2) the other party
                  is not acting as a fiduciary for it in respect of any such
                  Transaction, and (3) it is not relying on any communication
                  (whether written or oral) of the other party as investment
                  advice or as a recommendation to enter into any transaction.

         (s)      Conditions Precedent. Section 2(a)(iii)(1) of the Agreement
shall not apply to the obligations of Party B unless and Event of Default set
forth in Sections 5(a)(i) or 5(a)(vii)(4) with respect to Party A has occurred
and is continuing.

         (t)      Change of Account. Section 2(b) of this Agreement is hereby
amended by the insertion of the following at the end thereof after the word
"change": "provided that if such new account shall not be in the same
jurisdiction having the same power to tax as the original account, the party not
changing its account shall not be obliged to pay any greater amounts and shall
not receive less as a result of such change than would have been the case if
such change had not taken place."

         (u)      Amendments to Indenture. Party A agrees that it shall not
amend, modify or waive any provisions in the Indenture, Servicing Agreement or
related documents without the consent of Party B if such amendment, modification
or waiver would have a material adverse effect on Party B's rights under this
Agreement.

                            [Signature pages follow]

                                       12

<PAGE>

                                                                    Exhibit 4(j)

         Please confirm your agreement to the terms of the foregoing Schedule by
signing below.

                                               DEUTSCHE BANK AG, NEW YORK BRANCH

                                               By:______________________________
                                                  Name:
                                                  Title:

                                               By:______________________________
                                                  Name:
                                                  Title:

                                               GE COMMERCIAL EQUIPMENT FINANCING
                                                  LLC, SERIES 2003-1

                                               By: CEF Equipment Holding, L.L.C.
                                                   its Managing Member

                                               By:______________________________
                                                  Name:
                                                  Title:

                                 Schedule to Deutsche Bank ISDA Master Agreement

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