Document:

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                                                                    Exhibit 10.2
                                                                  EXECUTION COPY

                                WINGFOOT A/R LLC,

                                    as Issuer

                                       and

                            THE CHASE MANHATTAN BANK,

                              as Indenture Trustee

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

                                 BASE INDENTURE

                           Dated as of April 27, 2001

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

                           Asset Backed Investor Notes

                            (Each Issuable in Series)

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                                TABLE OF CONTENTS
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ARTICLE I DEFINITIONS AND INCORPORATION BY REFERENCE..............................................................1

         Section 1.1.      Definitions............................................................................1
         Section 1.2.      Cross-References.......................................................................1
         Section 1.3.      Accounting and Financial Determinations; No Duplication................................1
         Section 1.4.      Rules of Construction..................................................................2

ARTICLE II THE INVESTOR NOTES.....................................................................................2

         Section 2.1.      Designation and Terms of Investor Notes................................................2
         Section 2.2.      Investor Notes Issuable in Series......................................................3
         Section 2.3.      Execution and Authentication...........................................................4
         Section 2.4.      Registration of Transfer and Exchange of Investor Notes................................5
         Section 2.5.      Mutilated, Destroyed, Lost or Stolen Investor Notes....................................7
         Section 2.6.      Appointment of Paying Agent............................................................8
         Section 2.7.      Persons Deemed Owners..................................................................9
         Section 2.8.      Treasury Investor Notes...............................................................10
         Section 2.9.      Principal and Interest................................................................10
         Section 2.10.     Tax Treatment.........................................................................10

ARTICLE III SECURITY.............................................................................................11

         Section 3.1.      Grant of Security Interest............................................................11
         Section 3.2.      Protection of the Collateral..........................................................13
         Section 3.3.      Transaction Documents.................................................................13
         Section 3.4.      Release of Collateral.................................................................14
         Section 3.5.      Stamp, Other Similar Taxes and Filing Fees............................................14

ARTICLE IV REPORTS...............................................................................................14

         Section 4.1.      Collection Agent Reports..............................................................14
         Section 4.2.      Reports by the Issuer.................................................................15

ARTICLE V ALLOCATION AND APPLICATION OF COLLECTIONS..............................................................16

         Section 5.1.      Collection Account....................................................................16
         Section 5.2.      Collection of Money...................................................................17
         Section 5.3.      Collections and Allocations...........................................................17

ARTICLE VI DISTRIBUTIONS.........................................................................................19

         Section 6.1.      Distributions in General..............................................................19

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ARTICLE VII REPRESENTATIONS AND WARRANTIES.......................................................................19

         Section 7.1.      Existence and Power...................................................................19
         Section 7.2.      Governmental Authorization............................................................20
         Section 7.3.      Binding Effect........................................................................20
         Section 7.4.      Collateral............................................................................20
         Section 7.5.      Financial Information; Other Information..............................................21
         Section 7.6.      Tax Filings and Expenses..............................................................21
         Section 7.7.      Litigation............................................................................22
         Section 7.8.      Regulations T, U and X................................................................22
         Section 7.9.      Credit and Collection Policy..........................................................22
         Section 7.10.     Collections...........................................................................22
         Section 7.11.     Investment Company Act................................................................22
         Section 7.12.     No ERISA Liens........................................................................22
         Section 7.13.     Lock-Box Accounts.....................................................................22
         Section 7.14.     Transfers Under Receivables Purchase Agreement........................................23
         Section 7.15.     Solvency..............................................................................23
         Section 7.16.     Binding Effect of Receivables Purchase Agreement......................................23
         Section 7.17.     Non-Existence of Other Agreements.....................................................23
         Section 7.18.     Subsidiaries..........................................................................23

ARTICLE VIII COVENANTS...........................................................................................24

         Section 8.1.      Payment of Investor Notes.............................................................24
         Section 8.2.      Payment of Obligations................................................................24
         Section 8.3.      Conduct of Business and Maintenance of Existence......................................24
         Section 8.4.      Compliance with Laws..................................................................24
         Section 8.5.      Inspection of Property, Books and Records.............................................24
         Section 8.6.      Collateral............................................................................25
         Section 8.7.      Notice of Defaults....................................................................25
         Section 8.8.      Notice of Material Proceedings........................................................25
         Section 8.9.      Notice of Reportable Event............................................................25
         Section 8.10.     Annual Opinion of Counsel.............................................................26
         Section 8.11.     Performance and Compliance with Contracts.............................................26
         Section 8.12.     Compliance with Credit and Collection Policy..........................................26
         Section 8.13.     Use of Proceeds of Investor Notes.....................................................26
         Section 8.14.     Adverse Claims........................................................................26
         Section 8.15.     Other Indebtedness....................................................................26
         Section 8.16.     Mergers...............................................................................27
         Section 8.17.     Sales of Collateral...................................................................27
         Section 8.18.     Acquisition of Assets.................................................................27
         Section 8.19.     Net Worth.............................................................................27
         Section 8.20.     Name; Principal Office................................................................27
         Section 8.21.     Organizational Documents..............................................................27
         Section 8.22.     Investments...........................................................................27
         Section 8.23.     No Other Agreements...................................................................28
         Section 8.24.     Other Business........................................................................28
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         Section 8.25.     Sale Treatment........................................................................28
         Section 8.26.     Maintenance of Separate Existence.....................................................28

ARTICLE IX REMEDIES..............................................................................................31

         Section 9.1.      Events of Default.....................................................................31
         Section 9.2.      Acceleration of Maturity; Rescission and Annulment....................................31
         Section 9.3.      Collection of Indebtedness and Suits for Enforcement by the Indenture Trustee.........32
         Section 9.4.      Remedies; Priorities..................................................................34
         Section 9.5.      Optional Preservation of the Collateral...............................................35
         Section 9.6.      Limitation on Suits...................................................................36
         Section 9.7.      Unconditional Rights of Investor Noteholders to Receive Principal and Interest........36
         Section 9.8.      Restoration of Rights and Remedies....................................................37
         Section 9.9.      Rights and Remedies Cumulative........................................................37
         Section 9.10.     Delay or Omission Not a Waiver........................................................37
         Section 9.11.     Control by Investor Noteholders.......................................................37
         Section 9.12.     Waiver of Past Defaults...............................................................38
         Section 9.13.     Undertaking for Costs.................................................................38
         Section 9.14.     Waiver of Stay or Extension Laws......................................................39
         Section 9.15.     Action on Investor Notes..............................................................39

ARTICLE X THE INDENTURE TRUSTEE..................................................................................39

         Section 10.1.     Duties of the Indenture Trustee.......................................................39
         Section 10.2.     Rights of the Indenture Trustee.......................................................41
         Section 10.3.     Indenture Trustee's Disclaimer........................................................42
         Section 10.4.     Indenture Trustee May Own Investor Notes..............................................42
         Section 10.5.     Notice of Defaults....................................................................42
         Section 10.6.     Compensation..........................................................................43
         Section 10.7.     Eligibility Requirements for Indenture Trustee........................................43
         Section 10.8.     Resignation or Removal of Indenture Trustee...........................................44
         Section 10.9.     Successor Indenture Trustee by Merger.................................................45
         Section 10.10.    Appointment of Co-Indenture Trustee or Separate Indenture Trustee.....................45
         Section 10.11.    Representations and Warranties of Indenture Trustee...................................47

ARTICLE XI DISCHARGE OF INDENTURE................................................................................47

         Section 11.1.     Termination of the Issuer's Obligations...............................................47
         Section 11.2.     Repayment to the Issuer...............................................................47

ARTICLE XII AMENDMENTS...........................................................................................48

         Section 12.1.     Without Consent of the Investor Noteholders...........................................48
         Section 12.2.     With Consent of the Investor Noteholders..............................................49
         Section 12.3.     Supplements...........................................................................49
         Section 12.4.     Revocation and Effect of Consents.....................................................49

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         Section 12.5.     Notation on or Exchange of Investor Notes.............................................50
         Section 12.6.     The Indenture Trustee to Sign Amendments, etc.........................................50

ARTICLE XIII MISCELLANEOUS.......................................................................................50

         Section 13.1.     Compliance Certificates and Opinions..................................................50
         Section 13.2.     Forms of Documents Delivered to Indenture Trustee.....................................51
         Section 13.3.     Actions of Investor Noteholders.......................................................52
         Section 13.4.     Notices...............................................................................52
         Section 13.5.     Rules by the Indenture Trustee........................................................54
         Section 13.6.     Duplicate Originals...................................................................54
         Section 13.7.     Benefits of Base Indenture............................................................54
         Section 13.8.     Payment on Business Day...............................................................54
         Section 13.9.     Governing Law.........................................................................54
         Section 13.10.    Severability of Provisions............................................................54
         Section 13.11.    Counterparts..........................................................................55
         Section 13.12.    Successors............................................................................55
         Section 13.13.    Table of Contents, Headings, etc......................................................55
         Section 13.14.    Recording of Base Indenture...........................................................55
         Section 13.15.    No Petition...........................................................................55

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         BASE INDENTURE, dated as of April 27, 2001, between WINGFOOT A/R LLC, a
special purpose limited liability company established under the laws of
Delaware, as issuer (the "ISSUER"), and THE CHASE MANHATTAN BANK, a New York
banking corporation, as trustee (in such capacity, the "INDENTURE TRUSTEE").

                              W I T N E S S E T H:

         WHEREAS, the Issuer has duly authorized the execution and delivery of
this Base Indenture to provide for the issuance from time to time of one or more
series of Investor Notes from time to time, issuable as provided in this Base
Indenture;

         WHEREAS, all things necessary to make this Base Indenture a legal,
valid and binding agreement of the Issuer, in accordance with its terms, have
been done, and the Issuer proposes to do all the things necessary to make the
Investor Notes, when executed by the Issuer and authenticated and delivered by
the Indenture Trustee hereunder and duly issued by the Issuer, the legal, valid
and binding obligations of the Issuer as hereinafter provided;

         NOW, THEREFORE, for and in consideration of the premises and the
receipt of the Investor Notes by the Investor Noteholders, it is mutually
covenanted and agreed, for the equal and proportionate benefit of all Investor
Noteholders as follows:

                                   ARTICLE I

                   DEFINITIONS AND INCORPORATION BY REFERENCE

         SECTION 1.1. DEFINITIONS.

         Certain capitalized terms used herein (including the preamble and the
recitals hereto) shall have the meanings assigned to such terms in the
Definitions List attached hereto as SCHEDULE 1 (the "DEFINITIONS LIST"), as such
Definitions List may be amended or modified from time to time in accordance with
the provisions hereof.

         SECTION 1.2. CROSS-REFERENCES.

         Unless otherwise specified, references in this Base Indenture, any
Indenture Supplement and in each other Transaction Document to any Article or
Section are references to such Article or Section of this Base Indenture, such
Indenture Supplement or such other Transaction Document, as the case may be and,
unless otherwise specified, references in any Article, Section or definition to
any clause are references to such clause of such Article, Section or definition.

         SECTION 1.3. ACCOUNTING AND FINANCIAL DETERMINATIONS; NO DUPLICATION.

         Where the character or amount of any asset or liability or item of
income or expense is required to be determined, or any accounting computation is
required to be made, for the purpose of the Indenture, such determination or
calculation shall be made, to the extent applicable and except as otherwise
specified in the Indenture, in accordance with GAAP. When used herein, the term
"financial statement" shall include the notes and schedules thereto. All

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accounting determinations and computations hereunder or under any other
Transaction Documents shall be made without duplication.

         SECTION 1.4. RULES OF CONSTRUCTION.

         In this Base Indenture and each Indenture Supplement, unless the
context otherwise requires:

                  (i) the singular includes the plural and vice versa;

                  (ii) reference to any Person includes such Person's successors
         and assigns but, if applicable, only if such successors and assigns are
         permitted by this Base Indenture, and reference to any Person in a
         particular capacity only refers to such Person in such capacity;

                  (iii) reference to any gender includes the other gender;

                  (iv) reference to any Requirement of Law means such
         Requirement of Law as amended, modified, codified or reenacted, in
         whole or in part, and in effect from time to time;

                  (v) "including" (and with correlative meaning "include") means
         including without limiting the generality of any description preceding
         such term; and

                  (vi) with respect to the determination of any period of time,
         "from" means "from and including" and "to" means "to but excluding."

                                   ARTICLE II

                               THE INVESTOR NOTES

         SECTION 2.1. DESIGNATION AND TERMS OF INVESTOR NOTES.

         Each Series of Investor Notes shall be issued in fully registered form
substantially in the form specified in the applicable Indenture Supplement, with
such appropriate insertions, omissions, substitutions and other variations as
are required or permitted hereby or by the related Indenture Supplement and may
have such letters, numbers or other marks of identification and such legends or
endorsements placed thereon as may, consistently herewith, be determined to be
appropriate by the Authorized Officers executing such Investor Notes, as
evidenced by their execution of the Investor Notes. All Investor Notes of any
Series shall, except as specified in the related Indenture Supplement, be
equally and ratably entitled as provided herein to the benefits hereof without
preference, priority or distinction on account of the actual time or times of
authentication and delivery, all in accordance with the terms and provisions of
this Base Indenture and the applicable Indenture Supplement. The aggregate
principal amount of Investor Notes which may be authenticated and delivered
under the Indenture is unlimited. The Investor Notes shall be issued in the
denominations set forth in the related Indenture Supplement.

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         SECTION 2.2. INVESTOR NOTES ISSUABLE IN SERIES.

         (a) The Investor Notes may be issued in one or more Series. Each Series
of Investor Notes shall be created by an Indenture Supplement.

         (b) Investor Notes of a new Series may from time to time be executed by
the Issuer and delivered to the Indenture Trustee for authentication and
thereupon the same shall be authenticated and delivered by the Indenture Trustee
upon the receipt of an Issuer Request at least three (3) Business Days (or such
shorter time as is acceptable to the Indenture Trustee) in advance of the
related Series Closing Date and upon delivery by the Issuer to the Indenture
Trustee, and receipt by the Indenture Trustee, of the following:

                  (i) an Issuer Order authorizing and directing the
         authentication and delivery of the Investor Notes of such new Series by
         the Indenture Trustee and specifying the designation of such new
         Series, the Initial Invested Amount (or the method for calculating such
         Initial Invested Amount) and the Note Rate (or the method for
         allocating interest payments or other cash flows to such Series), if
         any, with respect to such Series;

                  (ii) an Indenture Supplement satisfying the criteria set forth
         in SECTION 2.2(c) executed by the Issuer and specifying the Principal
         Terms of such Series;

                  (iii) a Tax Opinion; and

                  (iv) written confirmation from each Rating Agency that the
         Rating Agency Condition with respect to each Series of Outstanding
         Investor Notes shall have been satisfied with respect to such issuance.

         (c) In conjunction with the issuance of a new Series of Investor Notes,
the parties hereto shall execute an Indenture Supplement, which shall specify
the relevant terms with respect to any newly issued Series of Investor Notes,
which may include without limitation:

                  (i) its name or designation;

                  (ii) an Initial Invested Amount or the method of calculating
         the Initial Invested Amount;

                  (iii) the Note Rate (or formula for the determination
         thereof);

                  (iv) the Series Closing Date;

                  (v) the interest payment date or dates and the date or dates
         from which interest shall accrue;

                  (vi) the method of allocating Collections with respect to such
         Series;

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                  (vii) the method by which the principal amount of Investor
         Notes of such Series shall amortize or accrete;

                  (viii) the names of any Series Accounts to be used by such
         Series and the terms governing the operation of any such accounts and
         use of moneys therein;

                  (ix) the Series Collection Agent Fee;

                  (x) the terms on which the Investor Notes of such Series may
         be redeemed, repurchased or remarketed to other investors;

                  (xi) any deposit into any Series Account;

                  (xii) the priority of any Series with respect to any other
         Series; and

                  (xiii) any other relevant terms of such Series (all such
         terms, the "PRINCIPAL TERMS" of such Series).

The terms of such Indenture Supplement may modify or amend the terms of this
Base Indenture solely as applied to such new Series.

         (d) The Issuer may direct the Indenture Trustee to deposit all or a
portion of the net proceeds from the issuance of any new Series of Investor
Notes into a Series Account for another Series of Investor Notes and may specify
that the proceeds from the sale of such new Series of Investor Notes may be used
to reduce the Invested Amount of another Series of Investor Notes.

         SECTION 2.3. EXECUTION AND AUTHENTICATION.

         (a) The Investor Notes shall, upon issue pursuant to SECTION 2.2, be
executed on behalf of the Issuer by an Authorized Officer and delivered by the
Issuer to the Indenture Trustee for authentication and redelivery as provided
herein. If an Authorized Officer whose signature is on an Investor Note no
longer holds that office at the time the Investor Note is authenticated, the
Investor Note shall nevertheless be valid.

         (b) At any time and from time to time after the execution and delivery
of this Base Indenture, the Issuer may deliver Investor Notes of any particular
Series executed by the Issuer to the Indenture Trustee for authentication,
together with one or more Issuer Orders for the authentication and delivery of
such Investor Notes, and the Indenture Trustee, in accordance with such Issuer
Order and this Base Indenture, shall authenticate and deliver such Investor
Notes.

         (c) No Investor Note shall be entitled to any benefit under the
Indenture or be valid for any purpose unless there appears on such Investor Note
a certificate of authentication substantially in the form provided for herein,
duly and manually executed by the Indenture Trustee. Such signatures on such
certificate shall be conclusive evidence, and the only evidence, that the
Investor Note has been duly authenticated under the Indenture. The Indenture
Trustee may appoint an authenticating agent acceptable to the Issuer to
authenticate Investor Notes.

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Unless limited by the term of such appointment, an authenticating agent may
authenticate Investor Notes whenever the Indenture Trustee may do so. Each
reference in the Indenture to authentication by the Indenture Trustee includes
authentication by such agent. The Indenture Trustee's certificate of
authentication shall be in substantially the following form:

         This is one of the Investor Notes of a series issued under the within
mentioned Indenture.

                                             THE CHASE MANHATTAN BANK, as
                                             Indenture Trustee

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

         (d) Each Investor Note shall be dated and issued as of the date of its
authentication by the Indenture Trustee.

         (e) Notwithstanding the foregoing, if any Investor Note shall have been
authenticated and delivered hereunder but never issued and sold by the Issuer,
and the Issuer shall deliver such Investor Note to the Indenture Trustee for
cancellation, together with a written statement (which need not comply with
SECTION 13.2 and need not be accompanied by an Opinion of Counsel) stating that
such Investor Note has never been issued and sold by the Issuer, for all
purposes of the Indenture such Investor Note shall be deemed never to have been
authenticated and delivered hereunder and shall not be entitled to the benefits
of the Indenture.

         SECTION 2.4. REGISTRATION OF TRANSFER AND EXCHANGE OF INVESTOR NOTES.

         (a) The Issuer shall cause to be kept at the office or agency to be
maintained by a transfer agent and registrar (the "TRANSFER AGENT AND
REGISTRAR"), a register (the "NOTE REGISTER") in which, subject to such
reasonable regulations as it may prescribe, the Transfer Agent and Registrar
shall provide for the registration of the Investor Notes of each Series (unless
otherwise provided in the related Indenture Supplement) and of transfers and
exchanges of the Investor Notes as herein provided. The Indenture Trustee is
hereby initially appointed Transfer Agent and Registrar for the purposes of
registering the Investor Notes and transfers and exchanges of the Investor Notes
as herein provided. Any reference in the Indenture to the Transfer Agent and
Registrar shall include any co-transfer agent and co-registrar unless the
context otherwise requires.

         If a Person other than the Indenture Trustee is appointed by the Issuer
as the Transfer Agent and Registrar, (a) the Issuer will give the Indenture
Trustee prompt written notice of the appointment of such Transfer Agent and
Registrar and of the location, and any change in the location, of the Transfer
Agent and Register, and the Indenture Trustee shall have the right to inspect
the Transfer Agent and Register at all reasonable times and to obtain copies
thereof and (b) such Person shall be permitted to resign as Transfer Agent and
Registrar upon 30 days' written notice to the Indenture Trustee; provided,
however, that such resignation shall not be effective and such Person shall
continue to perform its duties as Transfer Agent and Registrar until the
Indenture Trustee has appointed a successor Transfer Agent and Registrar with
the

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consent of the Issuer. If the Person that is acting as the Indenture Trustee
is also acting as the Transfer Agent and Registrar, then such Person shall be
permitted to resign as Transfer Agent and Registrar as and when such Person
resigns as Indenture Trustee pursuant to the terms hereof.

         An institution succeeding to the corporate agency business of the
Transfer Agent and Registrar shall continue to be the Transfer Agent and
Registrar without the execution or filing of any paper or any further act on the
part of the Indenture Trustee or such Transfer Agent and Registrar.

         The Transfer Agent and Registrar shall maintain in The City of New York
(and, if so specified in the related Indenture Supplement for any Series of
Investor Notes, any other city designated in such Indenture Supplement) an
office or offices or agency or agencies where Investor Notes may be surrendered
for registration of transfer or exchange. The Transfer Agent and Registrar
initially designates its corporate trust office located at 450 West 33rd Street,
New York, New York 10001-2697 as its office for such purposes. The Transfer
Agent and Registrar shall give prompt written notice to the Indenture Trustee,
the Issuer and to the Investor Noteholders of any change in the location of such
office or agency.

         Upon surrender for registration of transfer of any Investor Note at the
office or agency of the Transfer Agent and Registrar, if the requirements of
SECTION 2.4(b) and Section 8-401(a) of the UCC are met, the Issuer shall execute
and after the Issuer has executed, the Indenture Trustee shall authenticate and
(if the Transfer Agent and Registrar is different than the Indenture Trustee,
then the Transfer Agent and Registrar shall) deliver to the Investor Noteholder,
in the name of the designated transferee or transferees, one or more new
Investor Notes, in any authorized denominations and a like aggregate principal
amount.

         Whenever any Investor Notes of any Series are so surrendered for
exchange, if the requirements of Section 8-401(a) of the UCC are met, the Issuer
shall execute and after the Issuer has executed, the Indenture Trustee shall
authenticate and (if the Transfer Agent and Registrar is different than the
Indenture Trustee, then the Transfer Agent and Registrar shall) deliver to the
Investor Noteholder, the Investor Notes which the Investor Noteholder making the
exchange is entitled to receive.

         All Investor Notes issued upon any registration of transfer or exchange
of the Investor Notes shall be the valid obligations of the Issuer, evidencing
the same debt, and entitled to the same benefits under the Indenture, as the
Investor Notes surrendered upon such registration of transfer or exchange.

         Every Investor Note presented or surrendered for registration of
transfer or exchange shall be (i) duly endorsed by, or be accompanied by a
written instrument of transfer in form satisfactory to the Indenture Trustee
duly executed by, the Holder thereof or such Holder's attorney duly authorized
in writing, with such signature guaranteed by a commercial bank or trust company
located, or having a correspondent located, in The City of New York or the city
in which the Corporate Trust Office is located, or by a member firm of a
national securities exchange, and (ii) accompanied by such other documents as
the Indenture Trustee may require.

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         The preceding provisions of this SECTION 2.4 notwithstanding, the
Indenture Trustee or the Transfer Agent and Registrar, as the case may be, shall
not be required to register the transfer of or exchange any Investor Note of any
Series for a period of 15 days preceding the due date for any payment in full of
the Investor Notes of such Series.

         Unless otherwise provided in the related Indenture Supplement, no
service charge shall be made for any registration of transfer or exchange of
Investor Notes, but the Transfer Agent and Registrar may require payment of a
sum sufficient to cover any tax or governmental charge that may be imposed in
connection with any transfer or exchange of Investor Notes.

         All Investor Notes surrendered for registration of transfer and
exchange shall be canceled by the Transfer Agent and Registrar and disposed of
in a manner satisfactory to the Indenture Trustee.

         The Issuer shall execute and deliver to the Indenture Trustee or the
Transfer Agent and Registrar, as applicable, Investor Notes in such amounts and
at such times as are necessary to enable the Indenture Trustee to fulfill its
responsibilities under this Base Indenture and the Investor Notes.

         (b) Unless otherwise provided in the related Indenture Supplement,
registration of transfer of Investor Notes containing a legend relating to the
restrictions on transfer of such Investor Notes (which legend shall be set forth
in the Indenture Supplement relating to such Investor Notes) shall be effected
only if the conditions set forth in such related Indenture Supplement are
satisfied.

         SECTION 2.5. MUTILATED, DESTROYED, LOST OR STOLEN INVESTOR NOTES.

         If (a) any mutilated Investor Note is surrendered to the Transfer Agent
and Registrar, or the Transfer Agent and Registrar receives evidence to its
satisfaction of the destruction, loss or theft of any Investor Note and (b)
there is delivered to the Transfer Agent and Registrar and the Indenture Trustee
such security or indemnity as may be reasonably required by them to save each of
them harmless, then provided that the requirements of Section 8-405 of the UCC
are met, the Issuer shall execute and after the Issuer has executed, the
Indenture Trustee shall authenticate and (unless the Transfer Agent and
Registrar is different from the Indenture Trustee, in which case the Transfer
Agent and Registrar shall) deliver (in compliance with applicable law), in
exchange for or in lieu of any such mutilated, destroyed, lost or stolen
Investor Note, a new Investor Note of like tenor and aggregate principal amount;
provided, however, that if any such destroyed, lost or stolen Investor Note, but
not a mutilated Investor Note, shall have become or within seven days shall be
due and payable, instead of issuing a replacement Investor Note, the Issuer may
pay such destroyed, lost or stolen Investor Note when so due or payable without
surrender thereof. If, after the delivery of such replacement Investor Note or
payment of a destroyed, lost or stolen Investor Note pursuant to the proviso to
the preceding sentence, a purchaser for value of the original Investor Note in
lieu of which such replacement Investor Note was issued presents for payment
such original Investor Note, the Issuer, the Transfer Agent and Registrar and
the Indenture Trustee shall be entitled to recover such replacement Investor
Note (or such payment) from the Person to whom it was delivered or any Person
taking such replacement Investor Note from such Person to whom such replacement

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Investor Note was delivered or any assignee of such Person, except a purchaser
for value, and shall be entitled to recover upon the security or indemnity
provided therefor to the extent of any loss, damage, cost or expense incurred by
the Issuer, the Transfer Agent and Registrar or the Indenture Trustee in
connection therewith.

         In connection with the issuance of any new Investor Note under this
Section 2.5, the Indenture Trustee or the Transfer Agent and Registrar may
require the payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in relation thereto and any other expenses (including
the fees and expenses of the Indenture Trustee and the Transfer Agent and
Registrar) connected therewith. Any duplicate Investor Note issued pursuant to
this SECTION 2.5 shall constitute an original contractual obligation of the
Issuer whether or not the lost, stolen or destroyed note shall be found at any
time.

         SECTION 2.6. APPOINTMENT OF PAYING AGENT.

         (a) The Indenture Trustee may appoint a Paying Agent with respect to
the Investor Notes. The Indenture Trustee hereby appoints Chase as the initial
Paying Agent. The Paying Agent shall have the revocable power to withdraw funds
and make distributions to Investor Noteholders from the appropriate account or
accounts maintained for the benefit of Investor Noteholders as specified in this
Base Indenture or the related Indenture Supplement for any Series pursuant to
ARTICLE V. The Indenture Trustee may revoke such power and remove the Paying
Agent, if the Indenture Trustee determines in its sole discretion that the
Paying Agent shall have failed to perform its obligations under the Indenture in
any material respect or for other good cause. The Indenture Trustee shall notify
the Rating Agency of the removal of any Paying Agent. If the Person that is
acting as the Indenture Trustee is also acting as the Paying Agent, then such
Person shall be permitted to resign as Paying Agent as and when such Person
resigns as Indenture Trustee pursuant to the terms hereof. If the Person acting
as Paying Agent is not the Person acting as Indenture Trustee hereunder, such
Person shall be permitted to resign as Paying Agent upon 30 days' written notice
to the Indenture Trustee. In the event that any Paying Agent shall no longer be
the Paying Agent, the Indenture Trustee shall appoint a successor to act as
Paying Agent (which shall be a bank or trust company and may be the Indenture
Trustee) with the consent of the Issuer. The provisions of Sections 10.1, 10.2,
10.3, 10.6, 10.8 and 10.9 shall apply to the Indenture Trustee also in the
capacity of Paying Agent, for so long as the Indenture Trustee shall act as
Paying Agent. Any reference in the Indenture to the Paying Agent shall include
any co-paying agent unless the context requires otherwise.

         (b) The Indenture Trustee shall cause each Paying Agent (other than
itself) to execute and deliver to the Indenture Trustee an instrument in which
such Paying Agent shall agree with the Indenture Trustee that such Paying Agent
will:

                  (i) hold all sums held by it for the payment of amounts due
         with respect to the Investor Notes in trust for the benefit of the
         Persons entitled thereto until such sums shall be paid to such Persons
         or otherwise disposed of as herein provided and pay such sums to such
         Persons as herein provided;

                                       8
<PAGE>   14

                  (ii) give the Indenture Trustee notice of any default by the
         Issuer of which it has actual knowledge in the making of any payment
         required to be made with respect to the Investor Notes;

                  (iii) at any time during the continuance of any such default,
         upon the written request of the Indenture Trustee, forthwith pay to the
         Indenture Trustee all sums so held in trust by such Paying Agent;

                  (iv) immediately resign as a Paying Agent and forthwith pay to
         the Indenture Trustee all sums held by it in trust for the payment of
         the Investor Notes if at any time it ceases to meet the standards
         required to be met by the Paying Agent at the time of its appointment;
         and

                  (v) comply with all requirements of the Code with respect to
         the withholding from any payments made by it on any Investor Notes of
         any applicable withholding taxes imposed thereon and with respect to
         any applicable reporting requirements in connection therewith.

An institution succeeding to the corporate agency business of the Paying Agent
shall continue to be the Paying Agent without the execution or filing of any
paper or any further act on the part of the Indenture Trustee or such Paying
Agent.

         (c) Subject to applicable laws with respect to escheat of funds, any
money held by the Indenture Trustee or any Paying Agent in trust for the payment
of any amount due with respect to any Investor Note and remaining unclaimed for
two years after such amount has become due and payable shall be discharged from
such trust and be paid to the Issuer on Issuer Request; and the Holder of such
Investor Note shall thereafter, as an unsecured general creditor, look only to
the Issuer for payment thereof (but only to the extent of the amounts so paid to
the Issuer), and all liability of the Indenture Trustee or such Paying Agent
with respect to such trust money shall thereupon cease; PROVIDED, HOWEVER, that
the Indenture Trustee or such Paying Agent, before being required to make any
such repayment, may at the expense of the Issuer cause to be published once, in
a newspaper published in the English language, customarily published on each
Business Day and of general circulation in New York City notice that such money
remains unclaimed and that, after a date specified therein, which shall not be
less than 30 days from the date of such publication, any unclaimed balance of
such money then remaining will be repaid to the Issuer. The Indenture Trustee
may also adopt and employ, at the expense of the Issuer, any other reasonable
means of notification of such repayment.

         SECTION 2.7. PERSONS DEEMED OWNERS.

         Prior to due presentation of an Investor Note for registration of
transfer, the Indenture Trustee, the Paying Agent, the Transfer Agent and
Registrar and any agent of any of them may treat the Person in whose name any
Investor Note is registered as the owner of such Investor Note for the purpose
of receiving distributions pursuant to ARTICLE V (as described in any Indenture
Supplement) and for all other purposes whatsoever, and neither the Indenture
Trustee, the Paying Agent, the Transfer Agent and Registrar nor any agent of any
of them shall be affected by any notice to the contrary.

                                       9
<PAGE>   15

         SECTION 2.8. TREASURY INVESTOR NOTES.

         In determining whether the Investor Noteholders of the required
principal amount of Investor Notes have concurred in any direction, waiver or
consent, Investor Notes owned by the Issuer or any Affiliate of the Issuer shall
be considered as though they are not Outstanding, except that for the purpose of
determining whether the Indenture Trustee shall be protected in relying on any
such direction, waiver or consent, only Investor Notes of which a Responsible
Officer of the Indenture Trustee has received written notice of such ownership
shall be so disregarded. Absent written notice to a Responsible Officer of the
Indenture Trustee of such ownership, the Indenture Trustee shall not be deemed
to have knowledge of the identity of the individual beneficial owners of the
Investor Notes.

         SECTION 2.9. PRINCIPAL AND INTEREST.

         (a) The principal of each Series of Investor Notes shall be payable at
the times and in the amount set forth in the related Indenture Supplement and in
accordance with SECTION 6.1.

         (b) Each Series of Investor Notes shall accrue interest as provided in
the related Indenture Supplement and such interest shall be payable on each
Payment Date for such Series in accordance with SECTION 6.1 and the related
Indenture Supplement.

         (c) Except as provided in the following sentence, the Person in whose
name any Investor Note is registered at the close of business on any Record Date
with respect to a Payment Date for such Investor Note shall be entitled to
receive the principal and interest payable on such Payment Date notwithstanding
the cancellation of such Investor Note upon any registration of transfer,
exchange or substitution of such Investor Note subsequent to such Record Date.
Any interest payable at maturity shall be paid to the Person to whom the
principal of such Investor Note is payable.

         (d) If the Issuer defaults in the payment of interest on the Investor
Notes of any Series, such interest, to the extent paid on any date that is more
than five (5) Business Days after the applicable due date, shall, at the option
of the Issuer, cease to be payable to the Persons who were Investor Noteholders
of such Series at the applicable Record Date and the Issuer shall pay the
defaulted interest in any lawful manner, plus, to the extent lawful, interest
payable on the defaulted interest, to the Persons who are Investor Noteholders
of such Series on a subsequent special record date which date shall be at least
five (5) Business Days prior to the payment date, at the rate provided in the
Indenture and in the Investor Notes of such Series. The Issuer shall fix or
cause to be fixed each such special record date and payment date, and at least
15 days before the special record date, the Issuer (or the Indenture Trustee, in
the name of and at the expense of the Issuer) shall mail to Investor Noteholders
of such Series a notice that states the special record date, the related payment
date and the amount of such interest to be paid.

         SECTION 2.10. TAX TREATMENT.

         The Issuer has structured the Indenture and the Investor Notes have
been (or will be) issued with the intention that the Investor Notes will qualify
under applicable tax law as indebtedness of the Issuer and any entity acquiring
any direct or indirect interest in any Investor

                                       10
<PAGE>   16

Note by acceptance of its Investor Notes agrees to treat the Investor Notes for
purposes of Federal, state and local and income or franchise taxes and any other
tax imposed on or measured by income, as indebtedness of the Issuer.

                                  ARTICLE III

                                    SECURITY

         SECTION 3.1. GRANT OF SECURITY INTEREST.

         (a) To secure the Issuer Obligations, the Issuer hereby grants to the
Indenture Trustee, for the benefit of the Investor Noteholders, a security
interest in all of the Issuer's right, title and interest in and to all of the
Issuer's assets, property and interests in property of any kind or nature
whatsoever whether now or hereafter existing, acquired or created (all of the
foregoing being referred to as the "COLLATERAL"), including without limitation,
all right, title and interest of the Issuer in the following property and
interests in property:

                  (i) all Receivables and all Related Property with respect
         thereto, including those existing on the Initial Closing Date and all
         Receivables thereafter arising from time to time and the Related
         Property with respect thereto;

                  (ii) all Collections;

                  (iii) all payment, enforcement and other rights (including
         rescission, replevin or reclamation), but none of the obligations,
         relating to any Receivable or arising therefrom;

                  (iv) the Receivables Purchase Agreement, including, without
         limitation, all of the Issuer's rights, remedies, powers, interests and
         privileges under the Receivables Purchase Agreement (whether arising
         pursuant to the terms thereof or otherwise available to the Issuer),
         including, without limitation, the right to enforce the Receivables
         Purchase Agreement, to give or withhold any and all consents, requests,
         notices, directions, approvals or waivers thereunder and all amounts
         due and to become due thereunder, whether payable as indemnities or
         damages for breach thereof;

                  (v) the Collection Agency Agreement, including, without
         limitation, all of the Issuer's rights, remedies, powers, interests and
         privileges under the Collection Agency Agreement (whether arising
         pursuant to the terms thereof or otherwise available to the Issuer),
         including, without limitation, the right to enforce the Collection
         Agency Agreement, to give or withhold any and all consents, requests,
         notices, directions, approvals or waivers thereunder and all amounts
         due and to become due thereunder, whether payable as indemnities or
         damages for breach thereof;

                  (vi) the right, title and interest of the Seller in the Dunlop
         Receivables Purchase Agreement, including, without limitation, all of
         the Seller's rights, remedies, powers, interests and privileges under
         the Dunlop Receivables

                                       11
<PAGE>   17

         Purchase Agreement (whether arising pursuant to the terms thereof or
         otherwise available to the Issuer), including, without limitation, the
         right to enforce the Dunlop Receivables Purchase Agreement, to give or
         withhold any and all consents, requests, notices, directions, approvals
         or waivers thereunder and all amounts due and to become due thereunder,
         whether payable as indemnities or damages for breach thereof;

                  (vii) the Collection Account and all monies on deposit from
         time to time in the Collection Account and all proceeds thereof
         (including any Permitted Investments purchased with monies from any
         account held for the benefit of the Issuer or the Investor Noteholders
         and any investment earnings thereon);

                  (viii) the Lock-Box Accounts and all cash, checks and other
         negotiable instruments, funds and other evidences of payment held
         therein;

                  (ix) each Series Account and all monies on deposit from time
         to time in such Series Account and all proceeds thereof (including any
         Permitted Investments purchased with monies from any account held for
         the benefit of the Issuer or the Investor Noteholders and any
         investment earnings thereon);

                  (x) all additional property that may from time to time
         hereafter (pursuant to the terms of any Indenture Supplement or
         otherwise) be subjected to the grant of a security interest by the
         Issuer to the Indenture Trustee for the benefit of the Investor
         Noteholders; and

                  (xi) all proceeds of any and all of the foregoing including,
         without limitation, all present and future claims, demands, causes of
         action and chooses in action in respect of any or all of the foregoing
         and all payments on or under and all proceeds of every kind and nature
         whatsoever in respect of any or all of the foregoing, including all
         proceeds of the conversion thereof, voluntary or involuntary, into cash
         or other liquid property, all cash proceeds, accounts, accounts
         receivable, notes, drafts, acceptances, chattel paper, checks, deposit
         accounts, insurance proceeds, condemnation awards, rights to payment of
         any and every kind and other forms of obligations and receivables,
         instruments and other property which at any time constitute all or part
         of or are included in the proceeds of any of the foregoing.

         (b) The foregoing grant is made in trust to secure the Issuer
Obligations and to secure compliance with the provisions of this Base Indenture
and any Indenture Supplement, all as provided in the Indenture. The Indenture
Trustee, as Indenture Trustee on behalf of the Investor Noteholders,
acknowledges such grant, accepts the trusts under this Base Indenture in
accordance with the provisions of this Base Indenture. The Collateral shall
secure the Investor Notes equally and ratably without prejudice, priority or
distinction (except, with respect to any Series of Investor Notes, as otherwise
stated in the applicable Indenture Supplement).

                                       12
<PAGE>   18

         SECTION 3.2. PROTECTION OF THE COLLATERAL.

         The Issuer agrees that it will, and will cause the Seller to, from time
to time, at its expense, promptly execute and deliver all instruments and
documents and take all actions as may be necessary or as the Indenture Trustee
may reasonably request at the direction of the Holders of a Majority in Interest
of any Series of Outstanding Investor Notes in order to perfect or protect the
lien of this Base Indenture in the Collateral, defend its title to the
Collateral or to enable the Indenture Trustee to exercise or enforce any of its
rights hereunder. Without limiting the foregoing, the Issuer will, and will
cause the Seller to, in order to accurately reflect the transactions
contemplated by the Transaction Documents, (x) execute and file such financing
or continuation statements or amendments thereto or assignments thereof as may
be reasonably requested by the Indenture Trustee for the benefit of the Investor
Noteholders and (y) mark its respective master data processing records and other
documents with a legend describing the conveyance to the Issuer (in the case of
the Seller) of the Receivables and the Related Property with respect thereto and
the granting of the security in the Collateral to the Indenture Trustee for the
benefit of the Investor Noteholders. The Indenture Trustee shall sign
continuation statements and amendments thereto and assignments thereof prepared
by and at the expense of the Issuer; provided, however, the Indenture Trustee
shall have no duty to see to the maintenance of any recording or filing of any
financing statements. The Issuer shall not, and shall not permit the Seller to,
change its name, identity or corporate structure (within the meaning of Section
9-402(7) of the UCC), or relocate its respective chief executive office or any
office where Records are kept unless it shall have: (i) given the Indenture
Trustee at least thirty (30) days' prior written notice thereof and (ii)
prepared at the Issuer's expense and delivered to the Indenture Trustee all
financing statements, instruments and other documents necessary to preserve and
protect the lien of this Base Indenture in the Collateral or reasonably
requested by the Indenture Trustee in connection with such change or relocation.
Any filings under the UCC or otherwise that are occasioned by such change in
name or location shall be made by, and at the expense of, the Issuer.

         SECTION 3.3. TRANSACTION DOCUMENTS.

         Promptly following a request from the Indenture Trustee, acting at the
direction of the Holders of a Majority in Interest of any Series of Outstanding
Investor Notes, to do so and at the Issuer's expense, the Issuer agrees to take
all such lawful action as permitted under this Base Indenture as the Indenture
Trustee may request to compel or secure the performance and observance by the
Seller, the Collection Agent or Dunlop of its obligations under the Transaction
Documents, in each case in accordance with the applicable terms thereof, and to
exercise any and all rights, remedies, powers and privileges lawfully available
to the Issuer under the Transaction Documents against the Seller, the Collection
Agent or Dunlop to the extent and in the manner directed by the Indenture
Trustee, including, without limitation, the transmission of notices of default
and the institution of legal or administrative actions or proceedings, to compel
or secure performance by each of the Seller, the Collection Agent or Dunlop of
their respective obligations thereunder. If (i) the Issuer shall have failed,
within 30 days of receiving any such request of the Indenture Trustee, to take
commercially reasonable action to accomplish such requests of the Indenture
Trustee, (ii) the Issuer refuses to take any such action, or (iii) the Indenture
Trustee reasonably determines that such action must be taken immediately, the
Indenture Trustee may take such previously requested action and any related
action permitted under the Indenture which

                                       13
<PAGE>   19

the Indenture Trustee thereafter reasonably determines is appropriate to compel
or secure the performance and observance by the Seller, the Collection Agent or
Dunlop of its obligations under the Transaction Documents (without the need
under this provision or any other provision under the Indenture to direct the
Issuer to take such action), on behalf of the Issuer and the Investor
Noteholders.

         SECTION 3.4. RELEASE OF COLLATERAL.

         (a) The Indenture Trustee shall when required by the provisions of this
Base Indenture promptly execute instruments prepared by and at the expense of
the Issuer to release property from the lien of this Base Indenture, or convey
the Indenture Trustee's interest in the same, in a manner and under
circumstances that are not inconsistent with the provisions of the Indenture. No
party relying upon an instrument executed by the Indenture Trustee as provided
in this SECTION 3.4 shall be bound to ascertain the Indenture Trustee's
authority, inquire into the satisfaction of any conditions precedent or see to
the application of any moneys.

         (b) The Indenture Trustee shall, at such time as there are no Investor
Notes Outstanding and each Indenture Supplement shall have terminated in
accordance with its terms, release any remaining portion of the Collateral that
secured the Investor Notes from the lien of this Base Indenture and release to
the Issuer any funds then on deposit in the Issuer Accounts. The Indenture
Trustee shall release property from the lien of this Base Indenture pursuant to
this SECTION 3.4(b) only upon receipt of an Issuer Order accompanied by an
Officer's Certificate.

         SECTION 3.5. STAMP, OTHER SIMILAR TAXES AND FILING FEES.

         The Issuer shall indemnify and hold harmless the Indenture Trustee and
each Investor Noteholder from any present or future claim for liability for any
stamp or other similar tax and any penalties or interest with respect thereto,
that may be assessed, levied or collected by any jurisdiction in connection with
the Indenture or any Collateral. The Issuer shall pay, or reimburse the
Indenture Trustee for, any and all amounts in respect of, all search, filing,
recording and registration fees, taxes, excise taxes and other similar imposts
that may be payable or determined to be payable in respect of the execution,
delivery, performance and/or enforcement of the Indenture.

                                   ARTICLE IV

                                     REPORTS

         SECTION 4.1. COLLECTION AGENT REPORTS.

         The Issuer will deliver or cause to be delivered to the Indenture
Trustee:

                   (i) after the occurrence and during the continuance of a
         Downgrade Event, prior to 1:00 p.m., New York City time, on each Weekly
         Reporting Date, a written report with respect to each Series of
         Outstanding Investor Notes, setting forth the information required to
         be set forth therein under the Collection Agency Agreement and the
         related Indenture Supplement (a

                                       14
<PAGE>   20

        "WEEKLY REPORT") prepared and delivered by the Collection Agent to the
         Issuer pursuant to Section 4.2 of the Collection Agency Agreement;

                   (ii) on the second Business Day prior to each Settlement Date
         a Monthly Settlement Report with respect to each Series of Outstanding
         Investor Notes setting forth the information required to be set forth
         therein under the Collection Agency Agreement and the related Indenture
         Supplement prepared and delivered by the Collection Agent to the Issuer
         pursuant to Section 4.1 of the Collection Agency Agreement;

                   (iii) not later than 120 days after the end of each fiscal
         year and not later than 60 days after the end of each of the first
         three fiscal quarters of each fiscal year, a copy of a compliance
         certificate (a "COMPLIANCE CERTIFICATE") prepared and delivered by the
         Collection Agent pursuant to the Collection Agency Agreement, setting
         forth the information required to be set forth therein under Section
         4.4 of the Collection Agency Agreement;

                   (iv) on or before March 31 of each year, a copy of an annual
         servicing report (an "ANNUAL COLLECTION AGENT REPORT") prepared by the
         Collection Agent's independent auditors in accordance with the
         Collection Agency Agreement, setting forth the information required to
         be set forth therein under Section 4.5 of the Collection Agency
         Agreement;

                   (v) promptly upon the delivery by the Collection Agent to the
         Issuer, a copy of any other information, reports or other materials
         required to be delivered by the Collection Agent to the Issuer pursuant
         to the Collection Agency Agreement or by the Seller to the Issuer
         pursuant to the Receivables Purchase Agreement; and

                   (vi) from time to time such additional information regarding
         the Receivables and the financial position, results of operations or
         business of the Collection Agent as the Indenture Trustee may
         reasonably request to the extent that the Collection Agent delivers
         such information to the Issuer pursuant to the Collection Agency
         Agreement.

                   SECTION 4.2. REPORTS BY THE ISSUER.

         (a) Unless otherwise specified in the related Indenture Supplement, on
each Settlement Date, the Issuer shall deliver to the Indenture Trustee or the
Paying Agent and the Indenture Trustee or the Paying Agent, as the case may be,
shall forward to each Investor Noteholder of each Outstanding Series of Investor
Notes the Monthly Settlement Statement with respect to such Series.

         (b) As soon as available, but in any event within 120 days after the
end of each fiscal year of the Issuer, the Issuer shall deliver to the Indenture
Trustee or the Paying Agent and the Indenture Trustee or the Paying Agent, as
the case may be, shall forward to each Investor Noteholder of each Outstanding
Series a copy of the financial statements of the Issuer at

                                       15
<PAGE>   21

the end of such year prepared in accordance with GAAP and certified by an
Authorized Officer of the Issuer.

         (c) Unless otherwise specified in the related Indenture Supplement, on
or before January 31 of each calendar year, beginning with calendar year 2002,
the Indenture Trustee or the Paying Agent shall furnish to each Person who at
any time during the preceding calendar year was an Investor Noteholder of a
Series of Investor Notes a statement prepared by or on behalf of the Issuer
containing the information which is required to be contained in the Monthly
Settlement Statements with respect to such Series of Investor Notes aggregated
for such calendar year or the applicable portion thereof during which such
Person was an Investor Noteholder, together with such other customary
information (consistent with the treatment of the Investor Notes as debt) as the
Issuer deems necessary or desirable to enable the Investor Noteholders to
prepare their tax returns (each such statement, an "ANNUAL INVESTOR NOTEHOLDERS'
TAX STATEMENT"). Such obligations of the Issuer to prepare and the Indenture
Trustee or the Paying Agent to distribute the Annual Investor Noteholders' Tax
Statement shall be deemed to have been satisfied to the extent that
substantially comparable information shall be provided by the Indenture Trustee
or the Paying Agent pursuant to any requirements of the Code as from time to
time in effect.

                                   ARTICLE V

                    ALLOCATION AND APPLICATION OF COLLECTIONS

         SECTION 5.1. COLLECTION ACCOUNT.

         (a) ESTABLISHMENT OF COLLECTION ACCOUNT. The Indenture Trustee shall
establish and maintain in the name of the Indenture Trustee, for the benefit of
the Investor Noteholders, an Eligible Deposit Account bearing a designation
clearly indicating that the funds deposited therein are held in trust for the
benefit of the Investor Noteholders (the "Collection Account"). If at any time
the Indenture Trustee obtains knowledge that the Collection Account is no longer
an Eligible Deposit Account, the Indenture Trustee shall, within 30 days of
obtaining such knowledge, establish a new Collection Account that is an Eligible
Deposit Account and transfer into the new Collection Account all cash and
investments from the non-qualifying Collection Account. Initially, the
Collection Account will be established with Chase. Subject to the terms of this
Base Indenture and each Indenture Supplement, the Indenture Trustee shall
possess all right, title and interest in all moneys, instruments, securities and
other property on deposit from time to time in the Collection Account and the
proceeds thereof as secured party for the benefit of the Investor Noteholders.
The Collection Account shall be under the sole dominion and control of the
Indenture Trustee for the benefit of the Investor Noteholders.

         (b) SERIES ACCOUNTS. If so provided in the related Indenture
Supplement, the Indenture Trustee, for the benefit of the Investor Noteholders,
shall cause to be established and maintained one or more Series Accounts and/or
administrative sub-accounts of the Collection Account (each a "SERIES COLLECTION
SUBACCOUNT") to facilitate the proper allocation of Collections in accordance
with the terms of such Indenture Supplement. Each such Series Account shall bear
a designation clearly indicating that the funds deposited therein are held for
the benefit of the Investor Noteholders of such Series. Each such Series Account
will be an Eligible Deposit

                                       16
<PAGE>   22

Account, if so provided in the related Indenture Supplement, and will have the
other features and be applied as set forth in the related Indenture Supplement.

         (c) ADMINISTRATION OF THE COLLECTION ACCOUNT. The Issuer shall instruct
the institution maintaining the Collection Account in writing to invest the
funds on deposit in the Collection Account in Permitted Investments. Any such
investment shall mature and such funds shall be available for withdrawal on or
prior to the Transfer Date related to the Settlement Period in which such funds
were processed for collection, or if so specified in the related Indenture
Supplement, on the immediately succeeding Payment Date. All such Permitted
Investments will be credited to the Collection Account and any such Permitted
Investments that constitute (i) Physical Property (and that is not either a
United States Security Entitlement or a Security Entitlement) shall be delivered
to the Indenture Trustee in accordance with paragraph (a) of the definition of
"Delivery" and shall be held by the Indenture Trustee pending maturity or
disposition; (ii) United States Security Entitlements or Security Entitlements
shall be Controlled by the Indenture Trustee pending maturity or disposition;
and (iii) Uncertificated Securities (and not United States Security
Entitlements) shall be delivered to the Indenture Trustee in accordance with
paragraph (b) of the definition of "Delivery" and shall be maintained by the
Indenture Trustee pending maturity or disposition. The Indenture Trustee shall
take such action as is required to maintain the Indenture Trustee's security
interest in the Permitted Investments credited to the Collection Account. In the
absence of written investment instructions hereunder, funds on deposit in the
Collection Account shall remain uninvested. Neither the Issuer nor the Indenture
Trustee shall dispose of (or, to the extent of its authority, permit the
disposal of) any Permitted Investments prior to the maturity thereof to the
extent such disposal would result in a loss of principal of such Permitted
Investment.

         SECTION 5.2. COLLECTION OF MONEY.

         Except as otherwise provided herein, the Indenture Trustee may demand
payment or delivery of, and shall receive and collect, directly and without
intervention or assistance of any fiscal agent or other intermediary, all money
and other property payable to or receivable by the Indenture Trustee pursuant to
the Indenture. The Indenture Trustee shall apply all such money received by it
as provided in the Indenture. To the extent provided in this Base Indenture, if
any default occurs in the making of any payment or performance under any
agreement or instrument that is part of the Collateral, the Indenture Trustee
may take such action as may be appropriate to enforce such payment or
performance, including the institution and prosecution of appropriate
proceedings. Any such action shall be without prejudice to any right to claim a
Default or Event of Default under this Base Indenture or any Indenture
Supplement and any right to proceeds thereafter as provided in ARTICLE IX.

         SECTION 5.3. COLLECTIONS AND ALLOCATIONS.

         (a) COLLECTIONS IN GENERAL. Until this Base Indenture is terminated
pursuant to SECTION 11.1, the Issuer shall, and the Indenture Trustee is
authorized to, cause all Collections due and to become due to the Issuer or the
Indenture Trustee, as the case may be, under or in connection with the
Collateral to be paid to the Indenture Trustee for deposit into the Collection
Account in accordance with the terms of, and under the circumstances provided
under, this SECTION 5.3. The Issuer agrees that if any Collections shall be
received by the Issuer in an

                                       17
<PAGE>   23

account other than the Collection Account, the Issuer shall promptly cause such
monies, instruments, cash and other proceeds not to be commingled with any of
the Issuer's other funds or property, if any, to be held separate and apart
therefrom and to be held in trust by the Issuer for, and promptly remitted to,
the Indenture Trustee, with any necessary endorsement. All monies, instruments,
cash and other proceeds remitted to the Indenture Trustee in accordance with the
terms of, and under the circumstances provided under, this Section 5.3 shall be
immediately deposited in the Collection Account and shall be applied as provided
in this ARTICLE V.

         (b) DAILY COLLECTIONS.

                  (i) Except as otherwise provided in SECTION 5.3(c), the
         Collection Agent shall transfer all Collections received in the
         Lock-Box Accounts in the form of available funds to the Collection
         Account promptly following receipt by the Collection Agent, but in no
         event later than the Business Day following such receipt.

                  (ii) On each Business Day on which funds are deposited in the
         Collection Account (or if such funds are deposited after 3:00 p.m., New
         York City time, on such date, then on the next Business Day), the
         Indenture Trustee shall (in accordance with written directions received
         from the Collection Agent) allocate the funds deposited into the
         Collection Account on such Business Day, to the respective Series
         Collection Subaccounts in accordance with the respective Indenture
         Supplements, an amount equal to the product of (x) the Invested
         Percentage for each Series of Outstanding Investor Notes and (y) the
         amount of funds deposited into the Collection Account on such Business
         Day.

                  (iii) On each Business Day on which funds are deposited in the
         Collection Account (or if such funds are deposited after 3:00 p.m., New
         York City time, on such date, then on the next Business Day), the
         Indenture Trustee shall (in accordance with written directions received
         from the Collection Agent) distribute to the Issuer from the funds
         deposited into the Collection Account on such Business Day, the
         remaining funds, if any, deposited in the Collection Account on such
         Business Day, after giving effect to allocations to be made pursuant to
         paragraph (ii) of this Section 5.3(b).

         (c) EXCEPTIONS TO DAILY DEPOSIT REQUIREMENTS. Notwithstanding anything
in this Base Indenture to the contrary, (i) the Collection Agent shall deposit
into the Collection Account Collections received by the Collection Agent on any
Business Day that would be allocated to a particular Series of Outstanding
Investor Notes in accordance with SECTION 5.3(b)(ii) only to the extent and
under the circumstances provided in the related Indenture Supplement and (ii)
the Collection Agent shall not be required to deposit into the Collection
Account Collections received by the Collection Agent that are distributable to
the Issuer in accordance with SECTION 5.3(b)(iii) but shall pay such amounts to
or at the direction of the Issuer.

         (d) SHARING COLLECTIONS. In the manner described in the related
Indenture Supplement, to the extent that Collections that are allocated to any
Series are not needed to make

                                       18
<PAGE>   24

payments to Investor Noteholders of such Series or required to be deposited in
a Series Collection Subaccount or Series Account for such Series on any
Settlement Date, such Collections may, at the direction of the Issuer, be
applied to cover principal payments due to or for the benefit of Investor
Noteholders of another Series. Any such reallocation will not result in a
reduction in the Invested Amount of the Series to which such Collections were
initially allocated.

         (e) SET-OFF. If the Issuer shall fail to make a payment when due as
provided in this Base Indenture or any Indenture Supplement, the Indenture
Trustee may set off and apply any amounts otherwise payable to the Issuer
hereunder or under any Indenture Supplement. The Issuer hereby waives demand,
notice or declaration of such set-off and application; provided that notice will
promptly be given to the Issuer of such set-off.

[THE REMAINDER OF ARTICLE V IS RESERVED AND MAY BE SPECIFIED IN ANY INDENTURE
SUPPLEMENT WITH RESPECT TO ANY SERIES.]

                                   ARTICLE VI

                                  DISTRIBUTIONS

         SECTION 6.1. DISTRIBUTIONS IN GENERAL.

         (a) Unless otherwise specified in the applicable Indenture Supplement,
amounts payable to an Investor Noteholder hereunder shall be payable by wire
transfer of immediately available funds released by the Indenture Trustee or the
Paying Agent from the Collection Account or the applicable Series Account no
later than 12:00 Noon, New York City time, on the Payment Date for credit to the
account of the Person or Persons specified in the applicable Indenture
Supplement.

         (b) Unless otherwise specified in the applicable Indenture Supplement
(i) all distributions to Investor Noteholders of all classes within a Series of
Investor Notes will have the same priority and (ii) in the event that on any
date of determination the amount available to make payments to the Investor
Noteholders of a Series is not sufficient to pay all sums required to be paid to
such Investor Noteholders on such date, then each class of Investor Noteholders
will receive its ratable share (based upon the aggregate amount due to such
class of Investor Noteholders) of the aggregate amount available to be
distributed in respect of the Investor Notes of such Series.

                                  ARTICLE VII

                         REPRESENTATIONS AND WARRANTIES

         The Issuer hereby represents and warrants, for the benefit of the
Indenture Trustee and the Investor Noteholders, as follows as of each Series
Closing Date:

         SECTION 7.1. EXISTENCE AND POWER.

                                       19
<PAGE>   25

         The Issuer (a) is a special purpose limited liability company duly
formed, validly existing and in good standing under the laws of the State of
Delaware, (b) is duly qualified to do business as a foreign limited liability
company and in good standing under the laws of each jurisdiction where the
character of its property, the nature of its business or the performance of its
obligations make such qualification necessary or which shall be necessary to
protect the validity and enforceability of the Indenture, the Investor Notes or
any instrument or agreement included in the Collateral, and (c) has all powers
and all governmental licenses, authorizations, consents and approvals required
to carry on its business as now conducted and for purposes of the transactions
contemplated by the Indenture and the other Transaction Documents.

         SECTION 7.2. GOVERNMENTAL AUTHORIZATION.

         The execution, delivery and performance by the Issuer of the Indenture
and the other Transaction Documents to which it is a party (a) is within the
Issuer's power, has been duly authorized by all necessary action, (b) requires
no consent or action by or in respect of, or filing with, any governmental body,
agency or official which has not been obtained and (c) does not contravene, or
constitute a default under, any Requirement of Law or any agreement or
instrument binding on it or result in the creation or imposition of any Adverse
Claim on any of the Collateral, except for the liens created by the Indenture or
the other Transaction Documents. The Indenture and each of the other Transaction
Documents to which the Issuer is a party has been executed and delivered by a
duly authorized officer of the Issuer.

         SECTION 7.3. BINDING EFFECT.

                  The Indenture and each other Transaction Document to which it
is a party is a legal, valid and binding obligation of the Issuer enforceable
against the Issuer in accordance with its terms (except as such enforceability
may be limited by bankruptcy, insolvency, fraudulent conveyance, reorganization,
moratorium and other similar laws affecting creditors' rights generally or by
general equitable principles, whether considered in a proceeding at law or in
equity and by an implied covenant of good faith and fair dealing).

         SECTION 7.4. COLLATERAL.

         (a) The Issuer is the owner of the Receivables and the Related Property
with respect thereto, free and clear of all Adverse Claims (other than Permitted
Liens).

         (b) This Base Indenture constitutes a valid and continuing security
interest in the Collateral in favor of the Indenture Trustee on behalf of the
Investor Noteholders, which security interest is a first priority perfected
security interest in the Collateral (except to the extent that any of the
Related Property included in the Collateral constitutes property a security
interest in which may not be perfected by filing a financing statement under the
UCC in the Applicable Jurisdictions) and is enforceable as such as against
creditors of and purchasers from the Issuer in accordance with its terms, except
as such enforceability may be limited by bankruptcy, insolvency, fraudulent
conveyance, reorganization, moratorium and other similar laws affecting
creditors' rights generally or by general equitable principles, whether
considered in a proceeding at law or in equity and by an implied covenant of
good faith and fair dealing.

                                       20
<PAGE>   26

         (c) All action necessary (including the filing of UCC-1 financing
statements) to protect and perfect the Indenture Trustee's security interest in
the Collateral now in existence and hereafter acquired or created has been duly
and effectively taken and all filing fees and taxes, if any, payable in
connection with such filings have been paid in full, except that not all action
has been taken to perfect the Indenture Trustee's security interest in the
Collateral to the extent that such Collateral constitutes property a security
interest in which may not be perfected by filing a financing statement under the
UCC in the Applicable Jurisdictions.

         (d) No security agreement, financing statement, equivalent security or
lien instrument or continuation statement listing the Issuer as debtor covering
all or any part of the Collateral is on file or of record in any jurisdiction,
except such as may have been filed, recorded or made by the Issuer in favor of
the Indenture Trustee on behalf of the Investor Noteholders in connection with
this Base Indenture.

         (e) Except for a change made pursuant to Section 8.20, the Issuer's
principal place of business and chief executive office shall be at: 1201 East
Market Street, Akron, OH, 44305-4017 and the place where its records concerning
the Collateral are kept is at: 1201 East Market Street, Akron, OH, 44305-4017
and 200 John James Audobon Parkway, West Amherst, NY, 14228. The Issuer does not
transact, and has not transacted, business under any other name. The Issuer is
organized under the laws of Delaware.

         SECTION 7.5. FINANCIAL INFORMATION; OTHER INFORMATION.

         (a) All financial statements and other financial data which have been
or shall hereafter be furnished by the Issuer to the Indenture Trustee pursuant
to SECTION 4.2(b) have been and will be prepared in accordance with GAAP.

         (b) All certificates, reports, statements, documents and other
information furnished to the Indenture Trustee by or on behalf of the Issuer
pursuant to any provision of the Indenture or any Transaction Document, or in
connection with or pursuant to any amendment or modification of, or waiver
under, the Indenture or any Transaction Document, shall, at the time the same
are so furnished, be complete and correct to the extent necessary to give the
Indenture Trustee true and accurate knowledge of the subject matter thereof in
all material respects, and the furnishing of the same to the Indenture Trustee
shall constitute a representation and warranty by the Issuer made on the date
the same are furnished to the Indenture Trustee to the effect specified herein.

         SECTION 7.6. TAX FILINGS AND EXPENSES.

         The Issuer has filed all federal, state and local tax returns and all
other tax returns which, to the knowledge of the Issuer, are required to be
filed by the Issuer (whether informational returns or not), and has paid all
taxes due, if any, pursuant to said returns or pursuant to any assessment
received by the Issuer, except such taxes, if any, as are being contested in
good faith and for which adequate reserves have been set aside on its books in
accordance with GAAP. The Issuer has paid all fees and expenses required to be
paid by it in connection with the conduct of its business, the maintenance of
its existence and its qualification

                                       21
<PAGE>   27

as a foreign limited liability company authorized to do business in each State
in which it is required to so qualify.

         SECTION 7.7. LITIGATION.

         There is no action, suit or proceeding pending against or, to the
knowledge of any officer of the Issuer, threatened against or affecting the
Issuer before any court or arbitrator or any Governmental Authority that could
reasonably be expected to, individually or in the aggregate, materially
adversely affect the financial position, results of operations, business,
properties, performance, prospects or condition (financial or otherwise) of the
Issuer or which in any manner draws into question the validity or enforceability
of this Base Indenture, any Indenture Supplement or any other Transaction
Document or the ability of the Issuer to perform its obligations hereunder or
thereunder.

         SECTION 7.8. REGULATIONS T, U AND X.

         The proceeds of the Investor Notes will not be used to purchase or
carry any "margin stock" (as defined or used in the regulations of the Board of
Governors of the Federal Reserve System, including Regulations T, U and X
thereof). The Issuer is not engaged in the business of extending credit for the
purpose of purchasing or carrying any margin stock.

         SECTION 7.9. CREDIT AND COLLECTION POLICY.

         Since the Initial Closing Date, there have been no material changes in
the Credit and Collection Policy, other than as permitted by Section 5.3(b) of
the Receivables Purchase Agreement and Section 4.7(b) of the Collection Agency
Agreement. Since such date, no material adverse change has occurred in the
overall rate of collection of the Receivables.

         SECTION 7.10. COLLECTIONS.

         Since the Initial Closing Date, there has been no material adverse
change in the ability of the Collection Agent to service and collect the
Receivables.

         SECTION 7.11. INVESTMENT COMPANY ACT.

         The Issuer is not, and is not controlled by, an "investment company"
within the meaning of, and is not required to register as an "investment
company" under, the Investment Company Act of 1940.

         SECTION 7.12. NO ERISA LIENS.

         The Issuer and each of its ERISA Affiliates is in compliance in all
material respects with ERISA, and no lien exists in favor of the PBGC on any of
the Collateral.

         SECTION 7.13. LOCK-BOX ACCOUNTS.

         The names and addresses of all the Lock-Box Banks, together with the
account numbers of the Lock-Box Accounts at such Lock-Box Banks, are specified
in Exhibit A to the

                                       22
<PAGE>   28

Collection Agency Agreement (or at such other Lock-Box Banks and/or with such
other Lock-Box Accounts as have been notified to the Indenture Trustee and for
which Lock-Box Agreements have been executed in accordance with Section 2.3 of
the Collection Agency Agreement and delivered to the Indenture Trustee). All
Obligors have been instructed to make payment to a Lock-Box Account, and only
Collections are deposited into the Lock-Box Accounts.

         SECTION 7.14. TRANSFERS UNDER RECEIVABLES PURCHASE AGREEMENT.

         Each Receivable that has been transferred to the Issuer by the Seller
has been purchased by the Issuer from the Seller pursuant to, and in accordance
with, the terms of the Receivables Purchase Agreement. The Issuer shall have
given reasonably equivalent value to the Seller in consideration for the
transfer to the Issuer of the Receivables and Related Property with respect
thereto, and each such transfer shall not have been made for or on account of an
antecedent debt owed by the Seller to the Issuer, and no such transfer is or may
be voidable under any Section of the Bankruptcy Code.

         SECTION 7.15. SOLVENCY.

         Both before and after giving effect to the transactions contemplated by
this Base Indenture and the other Transaction Documents, the Issuer is solvent
within the meaning of the Bankruptcy Code and the Issuer is not the subject of
any voluntary or involuntary case or proceeding seeking liquidation,
reorganization or other relief with respect to itself or its debts under any
bankruptcy or insolvency law and no Insolvency Event has occurred with respect
to the Issuer.

         SECTION 7.16. BINDING EFFECT OF RECEIVABLES PURCHASE AGREEMENT.

         The Receivables Purchase Agreement and the Dunlop Receivables Purchase
Agreement are each in full force and effect and there are no outstanding events
of default thereunder nor have events occurred which, with the giving of notice,
the passage of time or both, would constitute a Purchase Termination Event.

         SECTION 7.17. NON-EXISTENCE OF OTHER AGREEMENTS.

                  Other than as permitted by SECTION 8.23, (i) the Issuer is not
a party to any contract or agreement of any kind or nature and (ii) the Issuer
is not subject to any obligations or liabilities of any kind or nature in favor
of any third party, including, without limitation, Contingent Obligations. The
Issuer has not engaged in any activities since its formation (other than those
incidental to its formation and other appropriate actions including the
authorization and the issue of the initial Series of Investor Notes, the
execution of the Transaction Documents to which it is a party and the
performance of the activities referred to in or contemplated by such
agreements).

         SECTION 7.18. SUBSIDIARIES.

         The Issuer has no Subsidiaries.

                                       23
<PAGE>   29

                                  ARTICLE VIII

                                    COVENANTS

         SECTION 8.1. PAYMENT OF INVESTOR NOTES.

         The Issuer shall pay the principal of (and premium, if any) and
interest on the Investor Notes pursuant to the provisions of this Base Indenture
and any applicable Indenture Supplement. Principal and interest shall be
considered paid on the date due if the Paying Agent holds on that date money
designated for and sufficient to pay all principal and interest then due.

         SECTION 8.2. PAYMENT OF OBLIGATIONS.

         The Issuer will pay and discharge, at or before maturity, all of its
material obligations and liabilities, including, without limitation, tax
liabilities and other governmental claims, except where the same may be
contested in good faith by appropriate proceedings, and will maintain, in
accordance with GAAP, reserves as appropriate for the accrual of any of the
same.

         SECTION 8.3. CONDUCT OF BUSINESS AND MAINTENANCE OF EXISTENCE.

         The Issuer will keep in full effect its existence, rights and
franchises as a limited liability company under the laws of the State of
Delaware and will obtain and preserve its qualification to do business under the
laws of each jurisdiction where the character of its property, the nature of its
business or the performance of its obligations make such qualification necessary
or which shall be reasonably necessary to protect the validity and
enforceability of the Indenture, the Investor Notes or any instrument or
agreement included in the Collateral.

         SECTION 8.4. COMPLIANCE WITH LAWS.

         The Issuer will comply in all respects with all Requirements of Law and
all applicable laws, ordinances, rules, regulations, and requirements of
Governmental Authorities (including, without limitation, ERISA and the rules and
regulations thereunder) except where such noncompliance would not materially and
adversely affect the condition, financial or otherwise, operations, performance,
properties or prospects of the Issuer or its ability to carry out the
transactions contemplated in the Indenture and each other Transaction Document;
provided, however, such noncompliance will not result in an Adverse Claim (other
than a Permitted Lien) on the Collateral.

         SECTION 8.5. INSPECTION OF PROPERTY, BOOKS AND RECORDS.

         The Issuer will keep proper books of record and account in which full,
true and correct entries shall be made of all dealings and transactions in
relation to the Collateral and its business activities in accordance with GAAP;
and will permit the Indenture Trustee to visit and inspect any of its
properties, to examine and make abstracts from any of its books and records and
to discuss its affairs, finances and accounts with its officers, directors,
employees and independent public accountants, all at such reasonable times upon
reasonable notice and as often as may reasonably be requested.

                                       24
<PAGE>   30

         SECTION 8.6. COLLATERAL.

         (a) Except as permitted under the Credit and Collection Policy, the
Issuer will not take any action and will use its commercially reasonable efforts
not to permit any action to be taken by others that would release any Person
from any of such Person's covenants or obligations under any instrument or
agreement included in the Collateral or that would result in the amendment,
hypothecation, subordination, termination or discharge of, or impair the
validity or effectiveness of, any such instrument or agreement, except as
expressly provided in the Indenture, any other Transaction Document or such
other instrument or agreement.

         (b) The Issuer shall not waive any breach or agree to any amendment,
modification or supplement of any Transaction Document without the consent of a
Majority in Interest of each Series of Outstanding Investor Notes.

         (c) After the occurrence of a Purchase Termination Event, the Issuer
shall terminate its obligation to purchase Receivables from the Seller pursuant
to Section 6.1 of the Receivables Purchase Agreement only at the written request
of the Indenture Trustee acting at the direction of the Holders of a Majority in
Interest of each Series of Outstanding Investor Notes.

         SECTION 8.7. NOTICE OF DEFAULTS.

         As soon as possible and in any event within 2 Business Days after
becoming aware of any Potential Purchase Termination Event, Purchase Termination
Event, Potential Termination Event, Termination Event, Collection Agent
Termination Event, Event of Default or Default under any of the Transaction
Documents, the Issuer shall give the Indenture Trustee written notice thereof,
together with an Officer's Certificate, setting forth the details thereof and
any action with respect thereto taken or contemplated to be taken by the Issuer.

         SECTION 8.8. NOTICE OF MATERIAL PROCEEDINGS.

         As soon as possible and in any event within 2 Business Days after
becoming aware thereof, the Issuer shall give the Indenture Trustee written
notice of the commencement or existence of any proceeding by or before any
Governmental Authority against or affecting the Issuer which is reasonably
likely to have a material adverse effect on the business, condition (financial
or otherwise), results of operations, properties, performance or prospects of
the Issuer or the ability of the Issuer to perform its obligations under the
Indenture or under any other Transaction Document to which it is a party.

         SECTION 8.9. NOTICE OF REPORTABLE EVENT.

         As soon as possible and in any event within 2 Business Days after the
filing or receiving thereof, copies of all reports and notices with respect to
any reportable event (as defined in Article IV of ERISA) which the Issuer, the
Seller or any ERISA Affiliate of the Issuer or the Seller files under ERISA with
the Internal Revenue Service, the PBGC or the U.S. Department of Labor which
might constitute grounds for termination of the related plan under Article IV of
ERISA or which the Issuer, the Seller or any ERISA Affiliate of the Issuer or
the Seller knows that the plan administrator of any plan has given or is
required to give to the PBGC

                                       25
<PAGE>   31

or which the Issuer, the Seller or any ERISA Affiliates of the Issuer or the
Seller receives from the Internal Revenue Service, the PBGC or the U.S.
Department of Labor.

         SECTION 8.10. ANNUAL OPINION OF COUNSEL.

         On or before March 31 of each calendar year, commencing with March 31,
2002, the Issuer shall furnish to the Indenture Trustee an Opinion of Counsel
either stating that, in the opinion of such counsel, such action has been taken
with respect to the recording, filing, re-recording and refiling of this Base
Indenture, any indentures supplemental hereto and any other requisite documents
and with respect to the execution and filing of any financing statements and
continuation statements as are necessary to maintain the perfection of the lien
and security interest created by this Base Indenture and reciting the details of
such action or stating that in the opinion of such counsel no such action is
necessary to maintain the perfection of such lien and security interest. Such
Opinion of Counsel shall also describe the recording, filing, re-recording and
refiling of this Base Indenture, any indentures supplemental hereto and any
other requisite documents and the execution and filing of any financing
statements and continuation statements that will, in the opinion of such
counsel, be required to maintain the perfection of the lien and security
interest of this Base Indenture until March 31 in the following calendar year.

         SECTION 8.11. PERFORMANCE AND COMPLIANCE WITH CONTRACTS.

         The Issuer will cause the Seller pursuant to Section 5.1(f) of the
Receivables Purchase Agreement to timely and fully perform and comply in all
material respects with all material provisions, covenants and other promises
required to be observed by the Seller under the Contracts related to the
Receivables.

         SECTION 8.12. COMPLIANCE WITH CREDIT AND COLLECTION POLICY.

         The Issuer will cause the Seller pursuant to Section 5.1(f) of the
Receivables Purchase Agreement and the Collection Agent pursuant to Section 2.2
of the Collection Agreement to comply in all material respects with the Credit
and Collection Policy in respect of the Receivables and the related Contracts.

         SECTION 8.13. USE OF PROCEEDS OF INVESTOR NOTES.

         The Issuer will use the net proceeds of each Series of Investor Notes
in accordance with the provisions of the related Indenture Supplement.

         SECTION 8.14. ADVERSE CLAIMS.

         The Issuer will not create, incur, assume or permit to exist any
Adverse Claim upon any of the Collateral, other than Permitted Liens.

         SECTION 8.15. OTHER INDEBTEDNESS.

         The Issuer will not create, assume, incur, suffer to exist or otherwise
become or remain liable in respect of any Indebtedness other than (i)
Indebtedness hereunder and (ii) Indebtedness permitted under any other
Transaction Document.

                                       26
<PAGE>   32

         SECTION 8.16. MERGERS.

         The Issuer will not merge or consolidate with or into any other Person.

         SECTION 8.17. SALES OF COLLATERAL.

         The Issuer will not sell, lease, transfer, liquidate or otherwise
dispose of any of the Collateral, except as contemplated by the Transaction
Documents.

         SECTION 8.18. ACQUISITION OF ASSETS.

         The Issuer will not acquire, by long-term or operating lease or
otherwise, any assets except in accordance with the terms of the Transaction
Documents.

         SECTION 8.19. NET WORTH.

         On the Initial Closing Date, the Issuer has a net worth, and thereafter
will at all times maintain a net worth (as defined in accordance with GAAP), of
at least $98,156,520.

         SECTION 8.20. NAME; PRINCIPAL OFFICE.

         The Issuer will neither (a) change the location of its chief executive
office or principal place of business (within the meaning of the applicable UCC)
without sixty (60) days' prior written notice to the Indenture Trustee nor (b)
change its name without prior written notice to the Indenture Trustee sufficient
to allow the Indenture Trustee to execute all filings prepared by the Issuer
(including filings of financing statements on form UCC-1) and recordings
necessary to maintain the perfection of the interest of the Indenture Trustee on
behalf of the Investor Noteholders in the Collateral pursuant to this Base
Indenture. In the event that the Issuer desires to so change its office or
change its name, the Issuer will make any required filings and prior to actually
changing its office or its name the Issuer will deliver to the Indenture Trustee
(i) an Officer's Certificate and (except with respect to a change of the
location of the Issuer's chief executive office or principal place of business
to a new location in the same county) an Opinion of Counsel confirming that all
required filings have been made to continue the perfected interest of the
Indenture Trustee on behalf of the Investor Noteholders in the Collateral in
respect of the new office or new name of the Issuer and (ii) copies of all such
required filings with the filing information duly noted thereon by the office in
which such filings were made.

         SECTION 8.21. ORGANIZATIONAL DOCUMENTS.

         The Issuer will not amend its limited liability company agreement
without the consent of a Majority in Interest of each Series of Outstanding
Investor Notes.

         SECTION 8.22. INVESTMENTS.

         The Issuer will not maintain any loan, advance, extension of credit or
other investment in any Person other than in accordance with the Transaction
Documents and, in addition, without limiting the generality of the foregoing,
the Issuer will not cause the Indenture

                                       27
<PAGE>   33

Trustee to make any Permitted Investments on the Issuer's behalf that would
have the effect of causing the Issuer to be an "investment company" within the
meaning of the Investment Company Act.

         SECTION 8.23. NO OTHER AGREEMENTS.

         The Issuer will not enter into or be a party to any agreement or
instrument other than any Transaction Document or documents and agreements
incidental thereto.

         SECTION 8.24. OTHER BUSINESS.

         The Issuer will not engage in any business or enterprise or enter into
any transaction other than acquiring the Receivables and the Related Property
with respect thereto pursuant to the Receivables Purchase Agreement, funding
such acquisitions through the issuance and sale of the Investor Notes and as
otherwise contemplated by the Transaction Documents, incurring and paying
ordinary course operating expenses and other activities related to or incidental
to any of the foregoing.

         SECTION 8.25. SALE TREATMENT.

         The Issuer will not account for (including for accounting purposes), or
otherwise treat, the transactions contemplated by the Receivables Purchase
Agreement in any manner other than as a sale of Receivables by the Seller to the
Issuer; provided, however that the Issuer shall not be required to treat the
sale of Receivables by the Seller to the Issuer as a sale for purposes of
federal income tax or applicable taxes of the State of Ohio. In addition, the
Issuer will disclose (in a footnote or otherwise) in all of its financial
statements (including any such financial statements consolidated with any other
Persons' financial statements) the existence and nature of the transaction
contemplated hereby and by the Receivables Purchase Agreement.

         SECTION 8.26. MAINTENANCE OF SEPARATE EXISTENCE.

         The Issuer will do all things necessary to continue to be readily
distinguishable from the Seller and any Affiliate of the Seller and maintain its
existence separate and apart from that of the Seller and any Affiliate of the
Seller. Without limiting the foregoing, the Issuer shall at all times:

                  (i) practice and adhere to organizational formalities, such as
         maintaining appropriate books, records and accounts separate from those
         of any other Person;

                  (ii) observe all organizational formalities in connection with
         all dealings between itself and any of its members and any Affiliate of
         any thereof or any unaffiliated entity;

                  (iii) observe all procedures required by its certificate of
         formation and its operating agreement and the Delaware Limited
         Liability Company Act;

                                       28
<PAGE>   34

                  (iv) act solely in its name and through its duly authorized
         officers or agents in the conduct of its businesses;

                  (v) manage its business and affairs by or under the direction
         of its Board of Managers;

                  (vi) ensure that its Board of Managers duly authorizes all of
         its actions;

                  (vii) own or lease (including through shared arrangements with
         its Affiliates) all office furniture and equipment necessary to
         operation its business;

                  (viii) maintain at least one member of its Board of Managers
         who is an Independent Manager;

                  (ix) not (A) have or incur any indebtedness to any of its
         members or any Affiliate of any of its members (other than the
         Subordinated Note); (B) guarantee or otherwise become liable for any
         obligations of any of its members or any Affiliate of any thereof; (C)
         have obligations guaranteed by any of its members or any Affiliate of
         any thereof; (D) hold itself out as responsible for debts of any of its
         members or any Affiliates of any thereof or for decisions or actions
         with respect to the affairs of any of its members or any Affiliate of
         any thereof; (E) operate or purport to operate as an integrated, single
         economic unit with respect to any of its members or any Affiliate of
         any thereof or any unaffiliated entity; (F) seek to obtain credit or
         incur any obligation to any third party based upon the assets of any of
         its members or any Affiliate of any thereof or any unaffiliated entity;
         (G) induce any such third party to reasonably rely on the
         creditworthiness of any of its members or any Affiliate of any thereof
         or any unaffiliated entity or (H) be directly or indirectly named as a
         direct or contingent beneficiary or loss payee on any insurance policy
         of any of its members or any Affiliate of any thereof;

                  (x) other than as provided in the Transaction Documents,
         maintain its deposit and other bank accounts and all of its assets
         separate from those of any other Person;

                  (xi) maintain its financial records separate and apart from
         those of any other Person;

                  (xii) not suggest in any way, within its financial statements,
         that its assets are available to pay the claims of creditors of any of
         its members or any Affiliate of any thereof or any unaffiliated entity;

                  (xiii) compensate all its employees, officers, consultants
         and agents for services provided to it by such Persons out of its own
         funds or reimbursing any of its Affiliates in respect of amounts paid
         by such Affiliates for such services;

                                       29
<PAGE>   35

                  (xiv) maintain office space separate and apart from that of
         any of its members or any Affiliate or any thereof (even if such office
         space is subleased from or is on or near premises occupied by any of
         its members or an Affiliate of any thereof) and a telephone number
         separate and apart from that of any of its members or any Affiliate of
         any thereof;

                  (xv) conduct all oral and written communications, including,
         without limitation, letters, invoices, purchase orders, contracts,
         statements, and applications solely in its own name;

                  (xvi) have separate stationery, invoices and checks from any
         of its members, any Affiliate of any thereof or any unaffiliated
         entity;

                  (xvii) account for and manage all of its liabilities
         separately from those of any of its members or any Affiliate of any
         thereof and pay its own liabilities out of its own funds;

                  (xviii) allocate, on an arm's length basis, all shared
         corporate operating services, leases and expenses, including, without
         limitation, those associated with the services of shared consultants
         and agents and shared computer and other office equipment and software;
         and otherwise maintaining an arm's length relationship with any of its
         members, any Affiliate of any thereof and any unaffiliated entity;

                  (xix) refrain from filing or otherwise initiating or
         supporting the filing of a motion in any bankruptcy or other insolvency
         proceeding involving any of its members or any Affiliate of any thereof
         to substantively consolidate any of its members or any Affiliate of any
         thereof with the Issuer;

                  (xx) remain solvent;

                  (xxi) not commingle its property with the property of any of
         its members or any other Person;

                  (xxii) prepare separate financial statements, prepared in
         accordance with GAAP and susceptible to audit, or in the event the
         Issuer's financial statements are consolidated with those of another
         entity, note on such financial statements the separate existence and
         obligations of the Issuer;

                  (xxiii) maintain a sufficient number of employees in light of
         its contemplated business operations;

                  (xxiv) not acquire obligations or securities of any of its
         members ;

                  (xxv) hold itself out as a separate entity and correct any
         known misunderstanding regarding its separate identity;

                                       30
<PAGE>   36

                  (xxvi) maintain adequate capital in light of its contemplated
         business operations; and

                  (xxvii) conduct no other business other than in connection
         with the transactions contemplated by the Transaction Documents and
         enter into no other agreements other than as contemplated by the
         Transaction Documents.

                                   ARTICLE IX

                                    REMEDIES

         SECTION 9.1. EVENTS OF DEFAULT.

         "EVENT OF DEFAULT", wherever used herein, with respect to any Series of
Investor Notes, means any one of the following events (whatever the reason for
such Event of Default and whether it shall be voluntary or involuntary or be
effected by operation of law or pursuant to any judgment, decree or order of any
court or any order, rule or regulation of any administrative or governmental
body):

         (a) default in the payment of any interest on any Investor Note of any
Series when the same becomes due and payable, and such default shall continue
for two Business Days;

         (b) default in the payment of the principal of any Investor Note of any
Series when the same becomes due and payable;

         (c) default in the observance or performance of any covenant or
agreement of the Issuer made in this Base Indenture or any Indenture Supplement
(other than a covenant or agreement, a default in the observance or performance
of which is elsewhere in this Section specifically dealt with) which default
continues for thirty (30) days after the earlier to occur of (i) the date upon
which the Issuer obtains knowledge of such failure or (ii) the date on which
written notice of such failure, requiring the same to be remedied, shall have
been given to the Issuer by the Indenture Trustee, or to the Issuer and the
Indenture Trustee by any Investor Noteholder;

         (d) the Securities and Exchange Commission or other regulatory body
having jurisdiction reaches a final determination that the Issuer is an
"investment company" within the meaning of the Investment Company Act; or

         (e) an Insolvency Event shall have occurred with respect to the Issuer.

         SECTION 9.2. ACCELERATION OF MATURITY; RESCISSION AND ANNULMENT.

         If an Event of Default referred to in CLAUSE (d) or (e) of SECTION 9.1
has occurred, the unpaid principal amount of all Series of Investor Notes,
together with interest accrued but unpaid thereon, and all other amounts due to
the Investor Noteholders under this Base Indenture and the related Indenture
Supplement, shall immediately and without further act become due and payable. If
an Event of Default referred to in CLAUSE (a) or (b) of SECTION 9.1 has
occurred, then the Indenture Trustee shall, at the direction of the Holders of a
Majority in Interest of any Series of Outstanding Investor Notes, declare all of
the Investor Notes of such Series to be immediately

                                       31
<PAGE>   37

due and payable, by a notice in writing to the Issuer (and to the Indenture
Trustee if given by the Investor Noteholders), and upon any such declaration the
unpaid principal amount of such Investor Notes, together with accrued and unpaid
interest thereon through the date of acceleration, shall become immediately due
and payable. If an Event of Default referred to in CLAUSE (c) of SECTION 9.1
shall occur and be continuing with respect to any Series of Investor Notes, then
and in every such case the Indenture Trustee shall, acting at the direction of
the Holders of a Majority in Interest of such Series of Investor Notes, declare
all the Investor Notes of such Series to be immediately due and payable, by a
notice in writing to the Issuer (and to the Indenture Trustee if given by the
Investor Noteholders), and upon any such declaration the unpaid principal amount
of such Investor Notes, together with accrued and unpaid interest thereon
through the date of acceleration, shall become immediately due and payable.

         At any time after such declaration of acceleration of maturity has been
made with respect to the Investor Notes (or a particular Series of Investor
Notes) and before a judgment or decree for payment of the money due has been
obtained by the Indenture Trustee as hereinafter in this ARTICLE IX, the Holders
of a Majority in Interest of each Series of Outstanding Investor Notes (or, in
the case of the acceleration of a particular Series of Investor Notes, the
Holders of a Majority in Interest of the Investor Notes of such Series), by
written notice to the Issuer and the Indenture Trustee, may rescind and annul
such declaration and its consequences; provided, that, no such rescission shall
affect any subsequent default or impair any right consequent thereto.

         SECTION 9.3. COLLECTION OF INDEBTEDNESS AND SUITS FOR ENFORCEMENT BY
THE INDENTURE TRUSTEE.

         (a) The Issuer covenants that if (i) default is made in the payment of
any interest on any Investor Note when the same becomes due and payable, and
such default continues for one Business Day or (ii) default is made in the
payment of the principal of any Investor Note when the same becomes due and
payable, by acceleration or at stated maturity, the Issuer will, upon demand of
the Indenture Trustee, pay to it, for the benefit of the Holders of such
Investor Notes, the whole amount then due and payable on such Investor Notes for
principal and interest, with interest upon the overdue principal at the Note
Rate borne by the Investor Notes, and in addition thereto such further amount as
shall be sufficient to cover the costs and expenses of collection, including the
reasonable compensation, expenses, disbursements and advances of the Indenture
Trustee and its agents and counsel.

         (b) In case the Issuer shall fail forthwith to pay such amounts upon
such demand, the Indenture Trustee, in its own name and as trustee of an express
trust, may institute a proceeding for the collection of the sums so due and
unpaid, and may prosecute such proceeding to judgment or final decree, and may
enforce the same against the Issuer or other obligor upon such Investor Notes
and collect in the manner provided by law out of the property of the Issuer or
other obligor upon such Investor Notes, wherever situated, the moneys adjudged
or decreed to be payable.

         (c) If an Event of Default occurs and is continuing, the Indenture
Trustee may, as more particularly provided in SECTION 9.4, in its discretion,
proceed to protect and enforce its rights and the rights of the Investor
Noteholders, by such appropriate proceedings as the Indenture Trustee shall deem
most effective to protect and enforce any such rights, whether

                                       32
<PAGE>   38

for the specific enforcement of any covenant or agreement in this Base Indenture
or any Indenture Supplement or in aid of the exercise of any power granted
herein, or to enforce any other proper remedy or legal or equitable right vested
in the Indenture Trustee by this Base Indenture, any Indenture Supplement or by
law.

         (d) In case there shall be pending, relative to the Issuer or any other
obligor upon the Investor Notes or any Person having or claiming an ownership
interest in the Collateral, proceedings under the Bankruptcy Code or any other
applicable Federal or state bankruptcy, insolvency or other similar law, or in
case a receiver, assignee or trustee in bankruptcy or reorganization,
liquidator, sequestrator or similar official shall have been appointed for or
taken possession of the Issuer or its property or such other obligor or Person,
or in the case of any other comparable judicial proceedings relative to the
Issuer or other obligor upon the Investor Notes, or to the creditors or property
of the Issuer or such other obligor, the Indenture Trustee, irrespective of
whether the principal of any Investor Notes shall then be due and payable as
therein expressed or by declaration or otherwise and irrespective of whether the
Indenture Trustee shall have made any demand pursuant to the provisions of this
Section, shall be entitled and empowered, by intervention in such proceedings or
otherwise:

                  (i) to file and prove a claim or claims for the whole amount
         of principal and interest owing and unpaid in respect of the Investor
         Notes and to file such other papers or documents as may be necessary or
         advisable in order to have the claims of the Indenture Trustee
         (including any claim for reasonable compensation to the Indenture
         Trustee and each predecessor Indenture Trustee, and their respective
         agents, attorneys and counsel, and for reimbursement of all expenses
         and liabilities incurred, and all advances made, by the Indenture
         Trustee and each predecessor Indenture Trustee, except as a result of
         negligence, bad faith or willful misconduct) and of the Investor
         Noteholders allowed in such proceedings;

                  (ii) unless prohibited by applicable law and regulations, to
         vote on behalf of the Holders of the Investor Notes in any election of
         a trustee, a standby trustee or person performing similar functions in
         any such proceedings;

                  (iii) to collect and receive any moneys or other property
         payable or deliverable on any such claims and to distribute all amounts
         received with respect to the claims of the Investor Noteholders and of
         the Indenture Trustee on their behalf; and

                  (iv) to file such proofs of claim and other papers or
         documents as may be necessary or advisable in order to have the claims
         of the Indenture Trustee or the Holders of the Investor Notes allowed
         in any judicial proceedings relative to the Issuer, its creditors and
         its property;

and any trustee, receiver, liquidator, custodian or other similar official in
any such proceeding is hereby authorized by each of such Investor Noteholders to
make payments to the Indenture Trustee, and, in the event that the Indenture
Trustee shall consent to the making of payments directly to such Investor
Noteholders, to pay to the Indenture Trustee such amounts as shall be

                                       33
<PAGE>   39

sufficient to cover reasonable compensation to the Indenture Trustee, each
predecessor Indenture Trustee and their respective agents, attorneys and
counsel, and all other expenses and liabilities incurred, and all advances made,
by the Indenture Trustee and each predecessor Indenture Trustee except as a
result of negligence or bad faith.

         (e) Nothing herein contained shall be deemed to authorize the Indenture
Trustee to authorize or consent to or vote for or accept or adopt on behalf of
any Investor Noteholder any plan of reorganization, arrangement, adjustment or
composition affecting the Investor Notes or the rights of any Holder thereof or
to authorize the Indenture Trustee to vote in respect of the claim of any
Investor Noteholder in any such proceeding except, as aforesaid, to vote for the
election of a trustee in bankruptcy or similar person.

         (f) All rights of action and of asserting claims under the Indenture,
or under any of the Investor Notes, may be enforced by the Indenture Trustee
without the possession of any of the Investor Notes or the production thereof in
any trial or other proceedings relative thereto, and any such action or
proceedings instituted by the Indenture Trustee shall be brought in its own name
as trustee of an express trust, and any recovery of judgment, subject to the
payment of the expenses, disbursements and compensation of the Indenture
Trustee, each predecessor Indenture Trustee and their respective agents and
attorneys, shall be for the ratable benefit of the Holders of the Investor
Notes.

         (g) In any proceedings brought by the Indenture Trustee (and also any
proceedings involving the interpretation of any provision of the Indenture to
which the Indenture Trustee shall be a party), the Indenture Trustee shall be
held to represent all the Holders of the Investor Notes, and it shall not be
necessary to make any Investor Noteholder a party to any such proceedings.

         SECTION 9.4. REMEDIES; PRIORITIES.

         (a) If an Event of Default shall have occurred and be continuing with
respect to any Series of Outstanding Investor Notes and such Series of Investor
Notes has been accelerated under SECTION 9.2, the Indenture Trustee may
institute proceedings to enforce the obligations of the Issuer hereunder in its
own name and as trustee of an express trust for the collection of all amounts
then payable on the Investor Notes of such Series or under the Indenture with
respect thereto, whether by declaration or otherwise, enforce any judgment
obtained, and collect from the Issuer and any other obligor upon such Investor
Notes moneys adjudged due.

         (b) If an Event of Default shall have occurred and be continuing with
respect to all Series of Outstanding Investor Notes and all Series of
Outstanding Investor Notes have been accelerated under SECTION 9.2, the
Indenture Trustee (subject to SECTION 9.5) may do one or more of the following:

                  (i) institute proceedings from time to time for the complete
         or partial foreclosure of this Base Indenture with respect to the
         Collateral;

                                       34
<PAGE>   40

                  (ii) exercise any remedies of a secured party under the UCC
         and take any other appropriate action to protect and enforce the rights
         and remedies of the Indenture Trustee and the Holders of the Investor
         Notes; and

                  (iii) in the case of an Event of Default referred to in clause
         (a) or (b) of SECTION 9.1, sell the Collateral or any portion thereof
         or rights or interest therein, at one or more public or private sales
         called and conducted in any manner permitted by law;

provided that the Indenture Trustee may not sell or otherwise liquidate the
Collateral following an Event of Default referred to in clause (a) or (b) of
SECTION 9.1, unless (A) the Holders of Investor Notes representing 100% of the
Aggregate Invested Amount consent thereto, (B) the proceeds of such sale or
liquidation distributable to the Investor Noteholders are sufficient to
discharge in full all amounts then due and unpaid upon the Investor Notes for
principal and interest or (C) (1) the Indenture Trustee determines that the
Collateral will not continue to provide sufficient funds for the payment of
principal of and interest on the Investor Notes as they would have become due if
the Investor Notes had not been declared due and payable and (2) the Indenture
Trustee obtains the consent of a Majority in Interest of the Holders of each
Series of Outstanding Investor Notes. In determining such sufficiency or
insufficiency with respect to clause (B) and (C), the Indenture Trustee may, but
need not, obtain and rely upon an opinion of an Independent investment banking
or accounting firm of national reputation as to the feasibility of such proposed
action and as to the sufficiency of the Collateral for such purpose.

         (c) If the Indenture Trustee collects any money or property pursuant to
this Article IX, such money or property shall be held by the Indenture Trustee
as additional collateral hereunder and the Indenture Trustee shall pay out such
money or property in the following order:

         FIRST: to the Indenture Trustee for amounts due under SECTION 10.6; and

         SECOND: to the Collection Account for distribution in accordance with
the provisions of ARTICLE V.

         SECTION 9.5. OPTIONAL PRESERVATION OF THE COLLATERAL.

         (a) If the Investor Notes of each Series Outstanding have been declared
to be due and payable under SECTION 9.2 following an Event of Default and such
declaration and its consequences have not been rescinded and annulled, the
Indenture Trustee may, but need not, elect to maintain possession of the
Collateral. It is the desire of the parties hereto and the Investor Noteholders
that there be at all times sufficient funds for the payment of principal of and
interest on the Investor Notes, and the Indenture Trustee shall take such desire
into account when determining whether to maintain possession of the Collateral.
In determining whether to maintain possession of the Collateral, the Indenture
Trustee may, but need not, obtain and rely upon an opinion of an Independent
investment banking or accounting firm of national reputation as to the
feasibility of such proposed action and as to the sufficiency of the Collateral
for such purpose. Nothing contained in this SECTION 9.5 shall be construed to
require the Indenture Trustee to preserve the Collateral securing the Issuer
Obligations if prohibited by applicable law

                                       35
<PAGE>   41

or if the Indenture Trustee is authorized, directed or permitted to liquidate
the Collateral pursuant to SECTION 9.4(b).

         SECTION 9.6. LIMITATION ON SUITS.

         No Holder of any Investor Note shall have any right to institute any
proceeding, judicial or otherwise, with respect to the Indenture, or for the
appointment of a receiver or trustee, or for any other remedy hereunder, unless:

         (a) such Holder has previously given written notice to the Indenture
Trustee of a continuing Event of Default;

         (b) Holders of each Series of Outstanding Investor Notes holding
Investor Notes evidencing at least 25% of the Investor Notes of such Series have
made written request to the Indenture Trustee to institute such proceeding in
respect of such Event of Default in its own name as the Indenture Trustee
hereunder;

         (c) such Holder or Holders have offered to the Indenture Trustee
indemnity reasonably satisfactory to it against the costs, expenses and
liabilities to be incurred in complying with such request;

         (d) the Indenture Trustee for 60 days after its receipt of such notice,
request and offer of indemnity has failed to institute such proceedings; and

         (e) no direction inconsistent with such written request has been given
to the Indenture Trustee during such 60-day period by the Holders of a Majority
in Interest of each Series of Outstanding Investor Notes;

it being understood and intended that no one or more Holders of the Investor
Notes shall have any right in any manner whatever by virtue of, or by availing
of, any provision of the Indenture to affect, disturb or prejudice the rights of
any other Holders of the Investor Notes or to obtain or to seek to obtain
priority or preference over any other Holders or to enforce any right under the
Indenture, except in the manner herein provided.

         In the event the Indenture Trustee shall receive conflicting or
inconsistent requests and indemnity from two or more groups of Holders of
Investor Notes, each representing less than a Majority in Interest of each
Series of Outstanding Investor Notes, the Indenture Trustee shall act at the
direction of the group of Holders of Investor Notes with the greater amount of
Investor Notes, however, should the Indenture Trustee receive conflicting or
inconsistent requests on indemnity from two or more groups of Holders with an
equal amount of Investor Notes the Indenture Trustee in its sole discretion may
determine what action, if any, shall be taken, notwithstanding any other
provisions of the Indenture.

         SECTION 9.7. UNCONDITIONAL RIGHTS OF INVESTOR NOTEHOLDERS TO RECEIVE
PRINCIPAL AND INTEREST.

         Notwithstanding any other provisions in the Indenture, the Holder of
any Investor Note shall have the right, which is absolute and unconditional, to
receive payment of the

                                       36
<PAGE>   42

principal of and interest, if any, on such Investor Note on or after the
respective due dates thereof expressed in such Investor Note or in the
Indenture and to institute suit for the enforcement of any such payment, and
such right shall not be impaired without the consent of such Holder.

         SECTION 9.8. RESTORATION OF RIGHTS AND REMEDIES.

         If the Indenture Trustee or any Investor Noteholder has instituted any
Proceeding to enforce any right or remedy under the Indenture and such
Proceeding has been discontinued or abandoned for any reason or has been
determined adversely to the Indenture Trustee or to such Investor Noteholder,
then and in every such case the Issuer, the Indenture Trustee and the Investor
Noteholders shall, subject to any determination in such Proceeding, be restored
severally and respectively to their former positions hereunder, and thereafter
all rights and remedies of the Indenture Trustee and the Investor Noteholders
shall continue as though no such Proceeding had been instituted.

         SECTION 9.9. RIGHTS AND REMEDIES CUMULATIVE.

         No right or remedy herein conferred upon or reserved to the Indenture
Trustee or to the Investor Noteholders is intended to be exclusive of any other
right or remedy, and every right and remedy shall, to the extent permitted by
law, be cumulative and in addition to every other right and remedy given
hereunder or now or hereafter existing at law or in equity or otherwise. The
assertion or employment of any right or remedy hereunder, or otherwise, shall
not prevent the concurrent assertion or employment of any other appropriate
right or remedy.

         SECTION 9.10. DELAY OR OMISSION NOT A WAIVER.

         No delay or omission of the Indenture Trustee or any Holder of any
Investor Note to exercise any right or remedy accruing upon any Default or Event
of Default shall impair any such right or remedy or constitute a waiver of any
such Default or Event of Default or an acquiescence therein. Every right and
remedy given by this ARTICLE IX or by law to the Indenture Trustee or to the
Investor Noteholders may be exercised from time to time, and as often as may be
deemed expedient, by the Indenture Trustee or by the Investor Noteholders, as
the case may be.

         SECTION 9.11. CONTROL BY INVESTOR NOTEHOLDERS.

         The Holders of a Majority in Interest of each Series of Outstanding
Investor Notes shall have the right to direct the time, method and place of
conducting any proceeding for any remedy available to the Indenture Trustee with
respect to the Investor Notes or exercising any trust or power conferred on the
Indenture Trustee; provided that

         (a) such direction shall not be in conflict with any rule of law or
with the Indenture;

         (b) if an Event of Default is with respect to less than all Series of
Outstanding Investor Notes, then the Indenture Trustee's rights and remedies
shall be limited to the rights and remedies pertaining only to those Series of
Investor Notes with respect to which such Event of

                                       37
<PAGE>   43

Default has occurred and the Indenture Trustee shall exercise such rights and
remedies only at the direction of the Holders of a Majority in Interest of all
such Series of Investor Notes;

         (c) subject to the express terms of SECTION 9.4, any direction to the
Indenture Trustee to sell or liquidate the Collateral shall be by the Holders of
Investor Notes representing not less than 100% of the Aggregate Invested Amount;

         (d) if the conditions set forth in SECTION 9.5 have been satisfied and
the Indenture Trustee elects to retain the Collateral pursuant to such Section,
then any direction to the Indenture Trustee by Holders of Investor Notes
representing less than 100% of the Aggregate Invested Amount to sell or
liquidate the Collateral shall be of no force and effect;

         (e) the Indenture Trustee may take any other action deemed proper by
the Indenture Trustee that is not inconsistent with such direction; and

         (f) such direction shall be in writing;

provided, further, that, subject to SECTION 10.1, the Indenture Trustee need not
take any action that it determines might involve it in liability or might
materially adversely affect the rights of any Investor Noteholders not
consenting to such action.

         SECTION 9.12. WAIVER OF PAST DEFAULTS.

         Prior to the declaration of the acceleration of the maturity of the
Investor Notes of any Series as provided in SECTION 9.2, the Holders of the
Investor Notes of not less than a Majority in Interest of such Series of
Outstanding Investor Notes may, on behalf of all such Holders, waive any past
Default or Event of Default and its consequences except a Default (a) in payment
of principal of or interest on any of the Investor Notes or (b) in respect of a
covenant or provision hereof which cannot be modified or amended without the
consent of the Holder of each Investor Note. In the case of any such waiver, the
Issuer, the Indenture Trustee and the Holders of the Investor Notes of such
Outstanding Series shall be restored to their former positions and rights
hereunder, respectively; but no such waiver shall extend to any subsequent or
other Default or impair any right consequent thereto.

         Upon any such waiver, such Default shall cease to exist and be deemed
to have been cured and not to have occurred, and any Event of Default arising
therefrom shall be deemed to have been cured and not to have occurred, for every
purpose of the Indenture; but no such waiver shall extend to any subsequent or
other Default or Event of Default or impair any right consequent thereto.

         SECTION 9.13. UNDERTAKING FOR COSTS.

         All parties to the Indenture agree, and each Holder of any Investor
Note by such Holder's acceptance thereof shall be deemed to have agreed, that
any court may in its discretion require, in any suit for the enforcement of any
right or remedy under the Indenture, or in any suit against the Indenture
Trustee for any action taken, suffered or omitted by it as the Indenture
Trustee, the filing by any party litigant in such Proceeding of an undertaking
to pay the costs of such Proceeding, and that such court may in its discretion
assess reasonable costs, including

                                       38
<PAGE>   44

reasonable attorneys' fees, against any party litigant in such Proceeding,
having due regard to the merits and good faith of the claims or defenses made by
such party litigant; but the provisions of this Section shall not apply to (a)
any suit instituted by the Indenture Trustee, (b) any suit instituted by any
Investor Noteholder or group of Investor Noteholders, in each case holding in
the aggregate more than 10% of the Invested Amount of any Series of Investor
Notes, or (c) any suit instituted by any Investor Noteholder for the enforcement
of the payment of principal of or interest on any Investor Note on or after the
respective due dates expressed in such Investor Note and in the Indenture.

         SECTION 9.14. WAIVER OF STAY OR EXTENSION LAWS.

         The Issuer covenants (to the extent that it may lawfully do so) that it
will not at any time insist upon, or plead or in any manner whatsoever, claim or
take the benefit or advantage of, any stay or extension law wherever enacted,
now or at any time hereafter in force, that may affect the covenants or the
performance of the Indenture; and the Issuer (to the extent that it may lawfully
do so) hereby expressly waives all benefit or advantage of any such law, and
covenants that it will not hinder, delay or impede the execution of any power
herein granted to the Indenture Trustee, but will suffer and permit the
execution of every such power as though no such law had been enacted.

         SECTION 9.15. ACTION ON INVESTOR NOTES.

         The Indenture Trustee's right to seek and recover judgment on the
Investor Notes or under the Indenture shall not be affected by the seeking,
obtaining or application of any other relief under or with respect to the
Indenture. Neither the lien of this Base Indenture nor any rights or remedies of
the Indenture Trustee or the Investor Noteholders shall be impaired by the
recovery of any judgment by the Indenture Trustee against the Issuer or by the
levy of any execution under such judgment upon any portion of the Collateral or
upon any of the assets of the Issuer.

                                   ARTICLE X

                              THE INDENTURE TRUSTEE

         SECTION 10.1. DUTIES OF THE INDENTURE TRUSTEE.

         (a) If a Termination Event or Event of Default has occurred and is
continuing, the Indenture Trustee shall exercise such of the rights and powers
vested in it by the Indenture, and use the same degree of care and skill in
their exercise, as a prudent man would exercise or use under the circumstances
in the conduct of his own affairs.

         (b) The Indenture Trustee, upon receipt of all resolutions,
certificates, statements, opinions, reports, documents, orders or other
instruments furnished to the Indenture Trustee which are specifically required
to be furnished pursuant to any provision of this Base Indenture or any of the
other Transaction Documents, shall examine them to determine whether they
substantially conform to the requirements of the Indenture or such other
Transaction Document, as the case may be; provided, however, that the Indenture
Trustee shall not be

                                       39
<PAGE>   45

responsible for the content of any resolution, certificate, statement, opinion,
report, document, order or other instrument furnished by the Collection Agent
or the Issuer hereunder.

         (c) SUBJECT TO SUBSECTION 10.1(a), no provision of the Indenture shall
be construed to relieve the Indenture Trustee from liability for its own
negligent action, its own negligent failure to act or its own bad faith or
wilful misconduct; provided, however, that:

                  (i) the Indenture Trustee shall not be liable for an error of
         judgment made in good faith by a Responsible Officer of the Indenture
         Trustee, unless it shall be proved that the Indenture Trustee was
         negligent in ascertaining the pertinent facts nor shall the Indenture
         Trustee be liable with respect to any action it takes or omits to take
         in good faith in accordance with the Indenture or in accordance with a
         direction received by it pursuant to the terms of this Base Indenture
         or any of the Transaction Documents;

                  (ii) the Indenture Trustee shall not be charged with knowledge
         of any Event of Default unless a Responsible Officer of the Indenture
         Trustee obtains actual knowledge thereof or receives written notice
         thereof;

                  (iii) the Indenture Trustee shall not be charged with
         knowledge of any failure by any Person to comply with its obligations
         under the Transaction Documents unless a Responsible Officer of the
         Indenture Trustee obtains actual knowledge of such failure or receives
         written notice thereof;

                  (iv) prior to the occurrence of a Termination Event or an
         Event of Default, and after the curing of all such Termination Events
         or Events of Default which may have occurred, the duties and
         obligations of the Indenture Trustee shall be determined solely by the
         express provisions of the Indenture, the Indenture Trustee shall be
         obligated to perform only such duties and obligations as are
         specifically set forth in the Indenture and no implied covenants or
         obligations shall be read into the Indenture against the Indenture
         Trustee;

                  (v) anything in the Indenture to the contrary notwithstanding,
         in no event shall the Indenture Trustee be liable for special, indirect
         or consequential loss or damage of any kind whatsoever (including but
         not limited to lost profits), even if the Indenture Trustee has been
         advised of the likelihood of such loss or damage and regardless of the
         form of action; and

                  (vi) subject to the other provisions of the Indenture and
         without limiting the generality of this SECTION 10.1, the
         Indenture Trustee shall have no duty (A) to record, file, or deposit
         the Indenture, the Transaction Documents or any agreement referred to
         herein or therein or any financing statement or continuation statement
         evidencing a security interest, or to maintain any such recording or
         filing or depositing or to rerecord, refile, or redeposit any thereof,
         (B) to insure the Collateral and (C) to pay or discharge any tax,
         assessment, or other governmental charge or any lien or encumbrance of
         any kind owing with respect

                                       40
<PAGE>   46

         to assessed or levied against, any part of the Collateral other than
         from funds available in the Collection Account.

         (d) The Indenture Trustee shall not be required to expend or risk its
own funds or otherwise incur financial liability in the performance of any of
its duties hereunder, or in the exercise of any of its rights or powers, if
there is reasonable ground for believing that the repayment of such funds or
adequate indemnity against such risk or liability is not reasonably assured to
it, and none of the provisions contained in the Indenture shall in any event
require the Indenture Trustee to perform, or be responsible for the manner of
performance of, any of the obligations of any Person under any of the
Transaction Documents.

         (e) Except for actions expressly authorized by the Indenture, the
Indenture Trustee shall take no action reasonably likely to impair the security
interests created hereunder in any of the Collateral now existing or hereafter
created or to impair the value of any of the Collateral now existing or
hereafter created.

         (f) In the event that the Paying Agent or the Transfer Agent and
Registrar shall fail to perform any obligation, duty or agreement in the manner
or on the day required to be performed by the Paying Agent or the Transfer Agent
and Registrar, as the case may be, under the Indenture, the Indenture Trustee
shall be obligated promptly to perform such obligation, duty or agreement in the
manner so required.

         SECTION 10.2. RIGHTS OF THE INDENTURE TRUSTEE.

         Except as otherwise provided by SECTION 10.1:

         (a) The Indenture Trustee may conclusively rely and shall be fully
protected in acting or refraining from acting based upon any document believed
by it to be genuine and to have been signed by or presented by the proper
person.

         (b) The Indenture Trustee may consult with counsel of its selection and
the written advice of such counsel or any Opinion of Counsel shall be full and
complete authorization and protection from liability in respect of any action
taken, suffered or omitted by it hereunder in good faith and in reliance
thereon.

         (c) The Indenture Trustee may act through agents, custodians and
nominees and shall not be liable for any misconduct or negligence on the part
of, or for the supervision of, any such agent, custodian or nominee so long as
such agent, custodian or nominee is appointed with due care.

         (d) The Indenture Trustee shall not be liable for any action it takes
or omits to take in good faith which it believes to be authorized or within its
rights or powers conferred upon it by the Indenture; provided, that the
Indenture Trustee's conduct does not constitute wilful misconduct, negligence or
bad faith.

         (e) Prior to the occurrence of an Event of Default and after the curing
of all Events of Default that may have occurred, the Indenture Trustee shall be
under no obligation to institute, conduct or defend any litigation hereunder or
in relation hereto, unless requested in

                                       41
<PAGE>   47

writing to do so by Holders of the Investor Notes evidencing not less than 25%
of the Invested Amount of any Series of Investor Notes; provided, however, that
if the payment within a reasonable time to the Indenture Trustee of the costs,
expenses, or liabilities likely to be incurred by it in instituting, conducting
or defending any litigation hereunder or in relation hereto shall be, in the
opinion of the Indenture Trustee, not reasonably assured to the Indenture
Trustee by the security afforded to it by the terms of the Indenture, the
Indenture Trustee may require reasonable indemnity against such cost, expense,
or liability or payment of such expenses as a condition precedent to so
proceeding. The reasonable expense of every such examination shall be paid by
the Collection Agent or, if paid by the Indenture Trustee, shall be reimbursed
by the Collection Agent upon demand.

         (f) The Indenture Trustee shall not be liable for any losses or
liquidation penalties in connection with Permitted Investments, unless such
losses or liquidation penalties were incurred through the Indenture Trustee's
own willful misconduct, negligence or bad faith.

         (g) The Indenture Trustee shall not be liable for the acts or omissions
of any successor to the Indenture Trustee so long as such acts or omissions were
not the result of its negligence, bad faith or willful misconduct.

         (h) The right of the Indenture Trustee to perform any discretionary act
enumerated in the Indenture shall not be construed as a duty, and the Indenture
Trustee shall not be answerable for other than its negligence or wilful
misconduct in the performance of such act.

         SECTION 10.3. INDENTURE TRUSTEE'S DISCLAIMER.

         The Indenture Trustee assumes no responsibility for the correctness of
the recitals contained herein and in the Investor Notes (other than the
certificate of authentication on the Investor Notes). Except as set forth in
SECTION 10.11, the Indenture Trustee makes no representations as to the validity
or sufficiency of the Indenture or of the Investor Notes (other than the
certificate of authentication on the Investor Notes) or of any of the
Collateral. The Indenture Trustee shall not be accountable for the use or
application by the Issuer of any of the Investor Notes or of the proceeds of
such Investor Notes, or for the use or application of any funds paid to the
Issuer in respect of the Collateral.

         SECTION 10.4. INDENTURE TRUSTEE MAY OWN INVESTOR NOTES.

         The Indenture Trustee in its individual or any other capacity may
become the owner or pledgee of Investor Notes with the same rights as it would
have if it were not the Indenture Trustee.

         SECTION 10.5. NOTICE OF DEFAULTS.

         If a Default or an Event of Default or a Potential Termination Event or
a Termination Event or a Collection Agent Termination Event or Potential
Collection Agent Termination Event occurs and is continuing and if it is either
actually known or written notice of the existence thereof has been delivered to
a Responsible Officer of the Indenture Trustee, the Indenture Trustee shall
promptly provide written notice thereof to each Investor Noteholder and

                                       42
<PAGE>   48

in any case shall provide written notice thereof within one Business Day after
such knowledge or notice occurs.

         SECTION 10.6. COMPENSATION.

         The Issuer shall cause the Collection Agent pursuant to the Collection
Agency Agreement to pay to the Indenture Trustee from time to time reasonable
compensation for its services. The Indenture Trustee's compensation shall not be
limited by any law on compensation of a trustee of an express trust. The Issuer
shall cause the Collection Agent pursuant to the Collection Agency Agreement to
reimburse the Indenture Trustee for all reasonable out-of-pocket expenses
incurred or made by it, including costs of collection, in addition to the
compensation for its services. Such expenses shall include the reasonable
compensation and expenses, disbursements and advances of the Indenture Trustee's
agents, counsel, accountants and experts. The Issuer shall cause the Collection
Agent pursuant to the Collection Agency Agreement to indemnify the Indenture
Trustee against any and all loss, liability or expense (including the reasonable
fees of counsel) incurred by it in connection with the administration of this
trust and the performance of its duties hereunder. The Indenture Trustee shall
notify the Issuer and the Collection Agent promptly of any claim for which it
may seek indemnity; provided, however, a failure by the Indenture Trustee to
promptly notify the Issuer and the Collection Agent of a claim for which it may
seek indemnity shall not relieve the Collection Agent from its obligation to
indemnify the Indenture Trustee.

         When the Indenture Trustee incurs expenses after the occurrence of an
Event of Default specified in Section 9.1(e) with respect to the Issuer, the
expenses are intended to constitute expenses of administration under the
Bankruptcy Code or any other applicable federal or state bankruptcy, insolvency
or similar law.

         SECTION 10.7. ELIGIBILITY REQUIREMENTS FOR INDENTURE TRUSTEE.

         The Indenture Trustee hereunder shall at all times be a corporation
organized and doing business under the laws of the United States or any state
thereof authorized under such laws to exercise corporate trust powers, having a
long-term unsecured debt rating of at least "Baa3" by Moody's and "BBB-" by
Standard & Poor's having, in the case of an entity that is subject to risk-based
capital adequacy requirements, risk-based capital of at least $50,000,000 or, in
the case of an entity that is not subject to risk-based capital adequacy
requirements, having a combined capital and surplus of at least $50,000,000 and
subject to supervision or examination by federal or state authority, and shall
satisfy the requirements for a trustee set forth in paragraph (a)(4)(i) of Rule
3a-7 under the Investment Company Act. If such corporation publishes reports of
condition at least annually, pursuant to law or to the requirements of the
aforesaid supervising or examining authority, then for the purpose of this
SECTION 10.7, the risk-based capital or the combined capital and surplus of such
corporation, as the case may be, shall be deemed to be its risk-based capital or
combined capital and surplus as set forth in the most recent report of condition
so published.

         If at any time the Indenture Trustee ceases to be eligible in
accordance with the provisions of this SECTION 10.7, the Indenture Trustee shall
resign immediately in the manner and with the effect specified in SECTION 10.8.

                                       43
<PAGE>   49

         SECTION 10.8. RESIGNATION OR REMOVAL OF INDENTURE TRUSTEE.

         (a) The Indenture Trustee may give notice of its intent to resign at
any time by so notifying the Issuer. The Holders of a Majority in Interest of
each Series of Outstanding Investor Notes may remove the Indenture Trustee by so
notifying the Indenture Trustee and may appoint a successor Indenture Trustee.
The Issuer shall remove the Indenture Trustee if:

                  (i) the Indenture Trustee fails to comply with SECTION 10.7;

                  (ii) the Indenture Trustee is adjudged bankrupt or insolvent;

                  (iii) a receiver or other public officer takes charge of the
         Indenture Trustee or its property; or

                  (iv) the Indenture Trustee otherwise becomes incapable of
         acting.

         (b) If the Indenture Trustee gives notice of its intent to resign or is
removed or if a vacancy exists in the office of the Indenture Trustee for any
reason (the Indenture Trustee in such event being referred to herein as the
retiring Indenture Trustee), the Issuer shall promptly appoint a successor
Indenture Trustee.

         (c) A successor Indenture Trustee shall deliver a written acceptance of
its appointment to the retiring Indenture Trustee and to the Issuer and
thereupon the resignation or removal of the Indenture Trustee shall become
effective, and the successor Indenture Trustee, without any further act, deed or
conveyance shall have all the rights, powers and duties of the Indenture Trustee
under the Indenture. The successor Indenture Trustee shall mail a notice of its
succession to Investor Noteholders. The retiring Indenture Trustee shall
promptly transfer all property held by it as the Indenture Trustee to the
successor Indenture Trustee.

         (d) If a successor Indenture Trustee does not take office within 60
days after the retiring Indenture Trustee gives notice of its intent to resign
or is removed, the retiring Indenture Trustee, the Issuer or the Holders of a
Majority in Interest of each Series of Outstanding Investor Notes may petition
any court of competent jurisdiction for the appointment of a successor Indenture
Trustee.

         (e) If the Indenture Trustee fails to comply with Section 10.7, any
Investor Noteholder may petition any court of competent jurisdiction for the
removal of the Indenture Trustee and the appointment of a successor Indenture
Trustee.

         (f) Any resignation or removal of the Indenture Trustee and appointment
of a successor Indenture Trustee pursuant to any of the provisions of this
Section shall not become effective until acceptance of appointment by the
successor Indenture Trustee pursuant to SECTION 10.8(c) and payment of all fees
and expenses owed to the outgoing Indenture Trustee.

         (g) Notwithstanding the resignation or removal of the Indenture Trustee
pursuant to this Section, the Issuer's obligations under SECTION 10.6 shall
continue for the benefit of the retiring Indenture Trustee. The Indenture
Trustee shall not be liable for the acts or omissions of any successor Indenture
Trustee.

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<PAGE>   50

         SECTION 10.9. SUCCESSOR INDENTURE TRUSTEE BY MERGER.

         If the Indenture Trustee consolidates with, merges or converts into, or
transfers all or substantially all its corporate trust business or assets to,
another corporation or banking association, the resulting, surviving or
transferee corporation without any further act shall be the successor Indenture
Trustee.

         In case at the time such successor or successors by merger, conversion
or consolidation to the Indenture Trustee shall succeed to the trusts created by
this Base Indenture any of the Investor Notes shall have been authenticated but
not delivered, any such successor to the Indenture Trustee may adopt the
certificate of authentication of any predecessor Indenture Trustee, and deliver
such Investor Notes so authenticated; and in case at that time any of the
Investor Notes shall not have been authenticated, any successor Indenture
Trustee may authenticate such Investor Notes either in the name of any
predecessor Indenture Trustee hereunder or in the name of the successor
Indenture Trustee; and in all such cases such certificate of authentication
shall have the same full force as is provided anywhere in the Investor Notes or
in this Base Indenture with respect to the certificate of authentication of the
Indenture Trustee.

         SECTION 10.10. APPOINTMENT OF CO-INDENTURE TRUSTEE OR SEPARATE
INDENTURE TRUSTEE.

         (a) Notwithstanding any other provisions of this Base Indenture or any
Indenture Supplement, at any time, for the purpose of meeting any legal
requirements of any jurisdiction in which any part of the Collateral may at the
time be located, the Indenture Trustee shall have the power and may execute and
deliver all instruments to appoint one or more persons to act as a co-Indenture
Trustee or co-Indenture Trustees, or separate Indenture Trustee or separate
Indenture Trustees, of all or any part of the Collateral, and to vest in such
Person or Persons, in such capacity and for the benefit of the Investor
Noteholders, such title to the Collateral, or any part thereof, and, subject to
the other provisions of this SECTION 10.10, such powers, duties, obligations,
rights and trusts as the Indenture Trustee may consider necessary or desirable.
No co-Indenture Trustee or separate Indenture Trustee hereunder shall be
required to meet the terms of eligibility as a successor Indenture Trustee under
SECTION 10.7 and no notice to Investor Noteholders of the appointment of any
co-Indenture Trustee or separate Indenture Trustee shall be required under
SECTION 10.8. No co-Indenture Trustee shall be appointed without the consent of
the Issuer unless such appointment is required as a matter of state law or to
enable the Indenture Trustee to perform its functions hereunder.

         (b) Every separate Indenture Trustee and co-Indenture Trustee shall, to
the extent permitted by law, be appointed and act subject to the following
provisions and conditions:

                  (i) The Investor Notes of each Series shall be authenticated
         and delivered solely by the Indenture Trustee or an authenticating
         agent appointed by the Indenture Trustee;

                  (ii) All rights, powers, duties and obligations conferred or
         imposed upon the Indenture Trustee shall be conferred or imposed upon
         and exercised or performed by the Indenture Trustee and such separate
         Indenture Trustee or

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<PAGE>   51

         co-Indenture Trustee jointly (it being understood that such separate
         Indenture Trustee or co-Indenture Trustee is not authorized to act
         separately without the Indenture Trustee joining in such act), except
         to the extent that under any law of any jurisdiction in which any
         particular act or acts are to be performed, the Indenture Trustee shall
         be incompetent or unqualified to perform, such act or acts, in which
         event such rights, powers, duties and obligations (including the
         holding of title to the Collateral or any portion thereof in any such
         jurisdiction) shall be exercised and performed singly by such separate
         Indenture Trustee or co-Indenture Trustee, but solely at the direction
         of the Indenture Trustee;

                  (iii) No Indenture Trustee hereunder shall be personally
         liable by reason of any act or omission of any other Indenture Trustee
         hereunder; and

                  (iv) The Indenture Trustee may at any time accept the
         resignation of or remove any separate Indenture Trustee or co-Indenture
         Trustee.

         (c) Any notice, request or other writing given to the Indenture Trustee
shall be deemed to have been given to each of the then separate Indenture
Trustees and co-Indenture Trustees, as effectively as if given to each of them.
Every instrument appointing any separate Indenture Trustee or co-Indenture
Trustee shall refer to this Base Indenture and the conditions of this ARTICLE
IX. Each separate Indenture Trustee and co-Indenture Trustee, upon its
acceptance of the trusts conferred, shall be vested with the estates or property
specified in its instrument of appointment, either jointly with the Indenture
Trustee or separately, as may be provided therein, subject to all the provisions
of this Base Indenture and any Indenture Supplement, specifically including
every provision of this Base Indenture or any Indenture Supplement relating to
the conduct of, affecting the liability of, or affording protection to, the
Indenture Trustee. Every such instrument shall be filed with the Indenture
Trustee and a copy thereof given to the Issuer.

         (d) Any separate Indenture Trustee or co-Indenture Trustee may at any
time constitute the Indenture Trustee, its agent or attorney-in-fact with full
power and authority, to the extent not prohibited by law, to do any lawful act
under or in respect to this Base Indenture or any Indenture Supplement on its
behalf and in its name. If any separate Indenture Trustee or co-Indenture
Trustee shall die, become incapable of acting, resign or be removed, all of its
estates, properties, rights, remedies and trusts shall vest in and be exercised
by the Indenture Trustee, to the extent permitted by law, without the
appointment of a new or successor Indenture Trustee.

         (e) In connection with the appointment of a co-Indenture Trustee, the
Indenture Trustee may, at any time, at the Indenture Trustee's sole cost and
expense, without notice to the Investor Noteholders, delegate its duties under
this Base Indenture and any Indenture Supplement to any Person who agrees to
conduct such duties in accordance with the terms hereof; provided, however, that
no such delegation shall relieve the Indenture Trustee of its obligations and
responsibilities hereunder with respect to any such delegated duties.

                                       46
<PAGE>   52

         SECTION 10.11. REPRESENTATIONS AND WARRANTIES OF INDENTURE TRUSTEE.

         The Indenture Trustee represents and warrants to the Issuer and the
Investor Noteholders that:

                  (i) The Indenture Trustee is a banking corporation organized,
         existing and in good standing under the laws of the State of New York;

                  (ii) The Indenture Trustee has full power, authority and right
         to execute, deliver and perform this Base Indenture and any Indenture
         Supplement issued concurrently with this Base Indenture and to
         authenticate the Investor Notes, and has taken all necessary action to
         authorize the execution, delivery and performance by it of this Base
         Indenture and any Indenture Supplement issued concurrently with this
         Base Indenture and to authenticate the Investor Notes;

                  (iii) This Base Indenture has been duly executed and delivered
         by the Indenture Trustee; and

                  (iv) The Indenture Trustee meets the requirements of
         eligibility as an Indenture Trustee hereunder set forth in SECTION
         10.7.

                                   ARTICLE XI

                             DISCHARGE OF INDENTURE

         SECTION 11.1. TERMINATION OF THE ISSUER'S OBLIGATIONS.

         This Base Indenture shall cease to be of further effect (except that
the Issuer's obligations under SECTION 10.6 shall survive) when all Outstanding
Investor Notes theretofore authenticated and issued have been delivered (other
than destroyed, lost or stolen Investor Notes which have been replaced or paid)
to the Indenture Trustee for cancellation, the Issuer has paid all sums payable
hereunder and all Indenture Supplements shall have terminated in accordance with
their respective terms.

         SECTION 11.2. REPAYMENT TO THE ISSUER.

         The Indenture Trustee and the Paying Agent shall promptly pay to the
Issuer upon written request any excess money or, pursuant to SECTION 2.4, return
any Investor Notes held by them at any time.

         The provisions of this SECTION 11.2 shall survive the expiration or
earlier termination of this Base Indenture.

                                       47
<PAGE>   53

                                  ARTICLE XII

                                   AMENDMENTS

         SECTION 12.1. WITHOUT CONSENT OF THE INVESTOR NOTEHOLDERS.

         Without the consent of any Investor Noteholder, the Issuer and the
Indenture Trustee, at any time and from time to time, may enter into one or more
supplements hereto, in form satisfactory to the Indenture Trustee, for any of
the following purposes, provided that the Rating Agency Condition is met:

         (a) to create a new Series of Investor Notes;

         (b) to add to the covenants of the Issuer for the benefit of any
Investor Noteholders (and if such covenants are to be for the benefit of less
than all Series of Investor Notes, stating that such covenants are expressly
being included solely for the benefit of such Series) or to surrender any right
or power herein conferred upon the Issuer (PROVIDED, HOWEVER, that the Issuer
will not pursuant to this SECTION 12.1(b) surrender any right or power it has
under the Transaction Documents);

         (c) to mortgage, pledge, convey, assign and transfer to the Indenture
Trustee any property or assets as security for the Investor Notes and to specify
the terms and conditions upon which such property or assets are to be held and
dealt with by the Indenture Trustee and to set forth such other provisions in
respect thereof as may be required by the Base Indenture or as may, consistent
with the provisions of the Base Indenture, be deemed appropriate by the Issuer
and the Indenture Trustee, or to correct or amplify the description of any such
property or assets at any time so mortgaged, pledged, conveyed and transferred
to the Indenture Trustee on behalf of the Investor Noteholders;

         (d) to cure any ambiguity, defect, or inconsistency or to correct or
supplement any provision contained herein or in any Indenture Supplement or in
any Investor Notes issued hereunder;

         (e) to evidence and provide for the acceptance of appointment hereunder
by a successor Indenture Trustee with respect to the Investor Notes of one or
more Series and to add to or change any of the provisions of the Base Indenture
as shall be necessary to provide for or facilitate the administration of the
trusts hereunder by more than one Indenture Trustee; or

         (f) to correct or supplement any provision herein which may be
inconsistent with any other provision herein or to make any other provisions
with respect to matters or questions arising under this Base Indenture;

PROVIDED, HOWEVER, that, as evidenced by an Opinion of Counsel delivered to the
Indenture Trustee (at the Issuer's expense), such action shall not adversely
affect in any material respect the interests of any Investor Noteholder. Upon
the request of the Issuer, the Indenture Trustee shall join with the Issuer in
the execution of any supplement hereto authorized or permitted by the terms of
this Base Indenture and shall make any further appropriate agreements and
stipulations which may be therein contained, but the Indenture Trustee shall not
be obligated to

                                       48
<PAGE>   54

enter into such supplement which affects its own rights, duties or immunities
under this Base Indenture or otherwise.

         SECTION 12.2. WITH CONSENT OF THE INVESTOR NOTEHOLDERS.

         Except as provided in SECTION 12.1, the provisions of this Base
Indenture and any Indenture Supplement (unless otherwise provided in such
Indenture Supplement) may from time to time be amended, modified or waived, if
such amendment, modification or waiver is in writing and consented to in writing
by the Issuer, the Indenture Trustee and the Holders of a Majority in Interest
of each Series of Outstanding Investor Notes; provided that, if such amendment,
modification or waiver of or to this Base Indenture or such Indenture Supplement
does not affect the Investor Noteholders of a particular Series of Investor
Notes (as substantiated by an Opinion of Counsel to such effect), then the
consent of the Investor Noteholders of such Series shall not be required to such
amendment, modification or waiver. Notwithstanding the foregoing:

                  (i) any modification of this SECTION 12.2, any requirement
         hereunder that any particular action be taken by Investor Noteholders
         holding the relevant percentage in principal amount of the Investor
         Notes or any change in the definition of the terms "Net Receivables
         Balance" or "Invested Amount", "Invested Percentage" or any defined
         term used for the purpose of any such definitions shall require the
         consent of each affected Investor Noteholder; and

                  (ii) any amendment, waiver or other modification that would
         (a) extend the due date for, or reduce the amount of any scheduled
         repayment or prepayment of principal of or interest on any Investor
         Note (or reduce the principal amount of or rate of interest on any
         Investor Note) shall require the consent of each affected Investor
         Noteholder; (b) approve the assignment or transfer by the Issuer of any
         of its rights or obligations hereunder or under any other Transaction
         Document to which it is a party except pursuant to the express terms
         hereof or thereof shall require the consent of each Investor
         Noteholder; (c) release any obligor under any Transaction Document to
         which it is a party except pursuant to the express terms of such
         Transaction Document shall require the consent of each Investor
         Noteholder; or (d) affect adversely the interests, rights or
         obligations of any Investor Noteholder individually in comparison to
         any other Investor Noteholder shall require the consent of such
         Investor Noteholder.

         SECTION 12.3. SUPPLEMENTS.

         Each amendment or other modification to this Base Indenture or the
Investor Notes shall be set forth in a supplement thereto. In addition to the
manner provided in SECTIONS 12.1 and 12.2, each Indenture Supplement may be
amended as provided in such Indenture Supplement.

         SECTION 12.4. REVOCATION AND EFFECT OF CONSENTS.

         Until an amendment or waiver becomes effective, a consent to it by an
Investor Noteholder of an Investor Note is a continuing consent by the Investor
Noteholder and every

                                       49
<PAGE>   55

subsequent Investor Noteholder of an Investor Note or portion of an Investor
Note that evidences the same debt as the consenting Investor Noteholder's
Investor Note, even if notation of the consent is not made on any Investor Note.
However, any such Investor Noteholder or subsequent Investor Noteholder may
revoke the consent as to his Investor Note or portion of an Investor Note if the
Indenture Trustee receives written notice of revocation before the date the
amendment or waiver becomes effective. An amendment or waiver becomes effective
in accordance with its terms and thereafter binds every Investor Noteholder. The
Issuer may fix a record date for determining which Investor Noteholders must
consent to such amendment or waiver.

         SECTION 12.5. NOTATION ON OR EXCHANGE OF INVESTOR NOTES.

         The Indenture Trustee may place an appropriate notation about an
amendment or waiver on any Investor Note thereafter authenticated. The Issuer in
exchange for all Investor Notes may issue and the Indenture Trustee shall
authenticate new Investor Notes that reflect the amendment or waiver. Failure to
make the appropriate notation or issue a new Investor Note shall not affect the
validity and effect of-such amendment or waiver.

         SECTION 12.6. THE INDENTURE TRUSTEE TO SIGN AMENDMENTS, ETC.

         The Indenture Trustee shall sign any supplement authorized pursuant to
this ARTICLE XII if the supplement does not adversely affect the rights, duties,
liabilities or immunities of the Indenture Trustee. If it does, the Indenture
Trustee may, but need not, sign it. In signing such supplement, the Indenture
Trustee shall be entitled to receive, if requested, an indemnity reasonably
satisfactory to it and to receive and, subject to Section 10.1, shall be fully
protected in relying upon, an Officer's Certificate and an Opinion of Counsel as
conclusive evidence that such supplement is authorized or permitted by this Base
Indenture and that it will be valid and binding upon the Issuer in accordance
with its terms.

                                  ARTICLE XIII

                                  MISCELLANEOUS

         SECTION 13.1. COMPLIANCE CERTIFICATES AND OPINIONS.

         (a) Upon any application or request by the Issuer to the Indenture
Trustee to take any action under any provision of this Base Indenture or any
Indenture Supplement, the Issuer shall furnish to the Indenture Trustee (i) an
Officer's Certificate stating that all conditions precedent, if any, provided
for in this Base Indenture or such Indenture Supplement relating to the proposed
action have been complied with and (ii) an Opinion of Counsel stating that in
the opinion of such counsel all such conditions precedent, if any, have been
complied with, except that, in the case of any such application or request as to
which the furnishing of such documents is specifically required by any provision
of this Base Indenture, no additional certificate or opinion need be furnished.

         Every certificate or opinion with respect to compliance with a
condition or covenant provided for in this Base Indenture or any Indenture
Supplement shall include:

                                       50
<PAGE>   56

                  (i) a statement that each signatory of such certificate or
         opinion has read or has caused to be read such covenant or condition
         and the definitions herein relating thereto;

                  (ii) a brief statement as to the nature and scope of the
         examination or investigation upon which the statements or opinions
         contained in such certificate or opinion are based;

                  (iii) a statement that, in the opinion of each such signatory,
         such signatory has made such examination or investigation as is
         necessary to enable such signatory to express an informed opinion as to
         whether such covenant or condition has been complied with; and

                  (iv) a statement as to whether, in the opinion of each such
         signatory such condition or covenant has been complied with.

                   SECTION 13.2. FORMS OF DOCUMENTS DELIVERED TO INDENTURE
         TRUSTEE.

         In any case where several matters are required to be certified by, or
covered by an opinion of, any specified Person, it is not necessary that all
such matters be certified by, or covered by the opinion of, only one such
Person, or that they be so certified or covered by only one document, but one
such Person may certify or give an opinion with respect to some matters and one
or more other such Persons as to other matters, and any such Person my certify
or give an opinion as to such matters in one or several documents.

         Any certificate or opinion of an Authorized Officer of the Issuer may
be based, insofar as it relates to legal matters, upon a certificate to legal
matters, upon a certificate or opinion of, or representations by, counsel,
unless such officer knows, or in the exercise of reasonable care should know,
that the certificate or opinion or representations with respect to the matters
upon which his or her certificate or opinion is based are erroneous. Any such
certificate of an Authorized Officer or Opinion of Counsel may be based, insofar
as it relates to factual matters, upon a certificate or opinion of, or
representations by, an officer or officers of the Collection Agent, the Seller
or the Issuer, stating that the information with respect to such factual matters
is in the possession of the Collection Agent, the Seller or the Issuer, unless
such counsel knows, or in the exercise of reasonable care should know, that the
certificate or opinion or representations with respect to such matters are
erroneous.

         Where any Person is required to make, give or execute two or more
applications, requests, consents, certificates, statements, opinions or other
instruments under this Base Indenture or any Indenture Supplement, they may, but
need not, be consolidated and form one instrument.

         Whenever in this Base Indenture or any Indenture Supplement, in
connection with any application, certificate or report to the Indenture Trustee,
it is provided that the Issuer shall deliver any document (x) as a condition of
the granting of such application, or (y) as evidence of the Issuer's compliance
with any term hereof, it is intended that the truth and accuracy, at the time of
the granting of such application or at the effective date of such certificate or
report (as the case may be), of the facts and opinions stated in such document
shall in each case be conditions

                                       51
<PAGE>   57

precedent to the right of the Issuer to have such application granted or to the
sufficiency of such certificate or report. The foregoing shall not, however, be
construed to affect the Indenture Trustee's right to rely upon the truth and
accuracy of any statement or opinion contained in any such document as provided
in ARTICLE X.

         SECTION 13.3. ACTIONS OF INVESTOR NOTEHOLDERS.

         (a) Any request, demand, authorization, direction, notice, consent,
waiver or other action provided by this Base Indenture or any Indenture
Supplement to be given or taken by the Investor Noteholders may be embodied in
and evidenced by one or more instruments of substantially similar tenor signed
by such Investor Noteholders in person or by an agent duly appointed in writing;
and except as herein otherwise expressly provided, such action shall become
effective when such instrument or instruments are delivered to the Indenture
Trustee and, when required, to the Issuer. Proof of execution of any such
instrument or of a writing appointing any such agent shall be sufficient for any
purpose of this Base Indenture or any Indenture Supplement and conclusive in
favor of the Indenture Trustee and the Issuer, if made in the manner provided in
this SECTION 13.3.

         (b) The fact and date of the execution by any Investor Noteholder of
any such instrument or writing may be proved in any reasonable manner which the
Indenture Trustee deems sufficient.

         (c) Any request, demand, authorization, direction, notice, consent,
waiver or other act by an Investor Noteholder shall bind every Holder of every
Investor Note issued upon the registration of transfer thereof or in exchange
therefor or in lieu thereof, in respect of anything done, or omitted to be done,
by the Indenture Trustee or the Issuer in reliance thereon, regardless of
whether notation of such action is made upon such Investor Note.

         (d) The Indenture Trustee may require such additional proof of any
matter referred to in this SECTION 13.3 as it shall deem necessary.

         SECTION 13.4. NOTICES.

         (a) Any notice or communication by the Issuer or the Indenture Trustee
to the other shall be in writing and delivered in person or mailed by
first-class mail (registered or certified, return receipt requested), telex,
telecopier or overnight air courier guaranteeing next day delivery, to the
other's address:

                  If to the Issuer:

                  1201 East Market Street
                  Akron, Ohio 44305-4017

                  Attention:
                  Telecopier No.(330) 796-1866

                  with a copy to the Collection Agent:

                                       52
<PAGE>   58

                  The Goodyear Tire & Rubber Company
                  1144 East Market Street
                  Akron, Ohio 44316-0001
                  Telecopier:
                  Attention: Office of the Treasurer

                  If to the Indenture Trustee:

                  The Chase Manhattan Bank
                  450 W. 33rd Street, 14th Floor
                  New York, New York  10001
                  Attention:  Institutional Trust Services,
                                 Goodyear Asset Backed Investor Notes
                  Phone:   (212) 946-3200
                  Fax:     (212) 946-8302

         The Issuer or the Indenture Trustee by notice to the other may
designate additional or different addresses for subsequent notices or
communications.

         Any notice (i) given in person shall be deemed delivered on the date of
delivery of such notice, (ii) given by first class mail shall be deemed given
five (5) days after the date that such notice is mailed, (iii) delivered by
telex or telecopier shall be deemed given on the date of delivery of such
notice, and (iv) delivered by overnight air courier shall be deemed delivered
one Business Day after the date that such notice is delivered to such overnight
courier.

         Notwithstanding any provisions of this Base Indenture to the contrary,
the Indenture Trustee shall have no liability based upon or arising from the
failure to receive any notice required by or relating to this Base Indenture or
the Investor Notes.

         If the Issuer mails a notice or communication to Investor Noteholders,
it shall mail a copy to the Indenture Trustee at the same time.

         (b) Where the Indenture provides for notice to Investor Noteholders of
any event, such notice shall be sufficiently given (unless otherwise herein
expressly provided) if sent in writing and mailed, first-class postage prepaid,
to each Investor Noteholder affected by such event, at its address as it appears
in the Note Register, not later than the latest date, and not earlier than the
earliest date, prescribed (if any) for the giving of such notice. In any case
where notice to Investor Noteholder is given by mail, neither the failure to
mail such notice, nor any defect in any notice so mailed, to any particular
Investor Noteholder shall affect the sufficiency of such notice with respect to
other Investor Noteholders, and any notice which is mailed in the manner herein
provided shall be conclusively presumed to have been duly given. Where the
Indenture provides for notice in any manner, such notice may be waived in
writing by any Person entitled to receive such notice, either before or after
the event, and such waiver shall be the equivalent of such notice. Waivers of
notice by Investor Noteholders shall be filed with the Indenture Trustee, but
such filing shall not be a condition precedent to the validity of any action
taken in reliance upon such waiver.

                                       53
<PAGE>   59

         In the case by reason of the suspension of regular mail service or by
reason of any other cause it shall be impracticable to give such notice by mail,
then such notification as shall be made that is satisfactory to the Indenture
Trustee shall constitute a sufficient notification for every purpose hereunder.

         SECTION 13.5. RULES BY THE INDENTURE TRUSTEE.

         The Indenture Trustee may make reasonable rules for action by or at a
meeting of Investor Noteholders.

         SECTION 13.6. DUPLICATE ORIGINALS.

         The parties may sign any number of copies of this Base Indenture. One
signed copy is enough to prove this Base Indenture.

         SECTION 13.7. BENEFITS OF BASE INDENTURE.

         Except as set forth in an Indenture Supplement, nothing in this Base
Indenture or in the Investor Notes, expressed or implied, shall give to any
Person, other than the parties hereto and their successors hereunder and the
Holders, any benefit or any legal or equitable right, remedy or claim under the
Base Indenture.

         SECTION 13.8. PAYMENT ON BUSINESS DAY.

         In any case where any Payment Date, redemption date or maturity date of
any Investor Note shall not be a Business Day, then (notwithstanding any other
provision of the Indenture) payment of interest or principal (and premium, if
any), as the case may be, need not be made on such date but may be made on the
next succeeding Business Day with the same force and effect as if made on the
Payment Date, redemption date, or maturity date; provided, however. that no
interest shall accrue for the period from and after such Payment Date,
redemption date, or maturity date, as the case may be.

         SECTION 13.9. GOVERNING LAW.

         THIS BASE INDENTURE SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED
IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

         SECTION 13.10. SEVERABILITY OF PROVISIONS.

         If any one or more of the covenants, agreements, provisions or terms of
this Base Indenture shall for any reason whatsoever be held invalid, then such
covenants, agreements, provisions or terms shall be deemed severable from the
remaining covenants, agreements, provisions or terms of this Base Indenture and
shall in no way affect the validity of enforceability of the other provisions of
this Base Indenture or of the Investor Notes or rights of the Investor
Noteholders thereof.

                                       54
<PAGE>   60

         SECTION 13.11. COUNTERPARTS.

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

         SECTION 13.12. SUCCESSORS.

         All agreements of the Issuer in the Indenture and the Investor Notes
shall bind its successor; provided, however, the Issuer may not assign its
obligations or rights under the Indenture or any Transaction Document. All
agreements of the Indenture Trustee in the Indenture shall bind its successor.

         SECTION 13.13. TABLE OF CONTENTS, HEADINGS, ETC.

         The Table of Contents, Cross-Reference Table, and headings of the
Articles and Sections of this Base Indenture have been inserted for convenience
of reference only, are not to be considered a part hereof, and shall in no way
modify or restrict any of the terms or provisions hereof.

         SECTION 13.14. RECORDING OF BASE INDENTURE.

         If this Base Indenture is subject to recording in any appropriate
public recording offices, such recording is to be effected by the Issuer and at
its expense accompanied by an Opinion of Counsel (which may be counsel to the
Indenture Trustee or any other counsel reasonably acceptable to the Indenture
Trustee) to the effect that such recording is necessary either for the
protection of the Investor Noteholders or any other person secured hereunder or
for the enforcement of any right or remedy granted to the Indenture Trustee
under this Base Indenture.

         SECTION 13.15. NO PETITION.

         The Indenture Trustee, by entering into this Base Indenture, and each
Investor Noteholder, by accepting an Investor Note, hereby covenant and agree
that they will not at any time institute against the Issuer or join in any
institution against the Issuer of, any bankruptcy, reorganization, arrangement,
insolvency or liquidation proceedings, or other proceedings under any United
States Federal or state bankruptcy or similar law in connection with any
obligations relating to the Investor Notes, this Base Indenture or any of the
other Transaction Documents.

                                       55
<PAGE>   61

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

                                  WINGFOOT A/R LLC,
                                   as Issuer

                                  By: /s/ Stephanie W. Bergeron
                                      -----------------------------------------
                                      Name:  Stephanie W. Bergeron
                                      Title: Vice President and Treasurer

                                  THE CHASE MANHATTAN BANK,
                                   as Indenture Trustee

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

<PAGE>   62

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

                                     WINGFOOT A/R LLC,
                                      as Issuer

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

                                      THE CHASE MANHATTAN BANK,
                                       as Indenture Trustee

                                      By: /s/ Kristen Driscoll
                                          --------------------------------------
                                          Name: Kristen Driscoll
                                          Title: Assistant Vice President<PAGE>   1
                                                                    Exhibit 10.3
                                                                  EXECUTION COPY

                               WINGFOOT A/R LLC,
                                   as Issuer

                      THE GOODYEAR TIRE & RUBBER COMPANY,
                              as Collection Agent

                           THE CHASE MANHATTAN BANK,
                            as Administrative Agent,

                         CERTAIN CP CONDUIT PURCHASERS,

                               CERTAIN APA BANKS,

                             CERTAIN FUNDING AGENTS

                                      and

                           THE CHASE MANHATTAN BANK,
                              as Indenture Trustee

                       SERIES 2001-1 INDENTURE SUPPLEMENT

                           dated as of April 27, 2001

                                       to

                                 BASE INDENTURE

                           dated as of April 27, 2001

<PAGE>   2

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                                                Page
                                                                                                                ----

<S>                                                                                                              <C>
ARTICLE 1 DEFINITIONS.............................................................................................1

ARTICLE 2 PURCHASE AND SALE OF SERIES 2001-1 INVESTOR NOTES;  INCREASES AND DECREASES OF SERIES 2001-1
              INVESTED AMOUNT....................................................................................19

         SECTION 2.1. Purchases of the Series 2001-1 Investor Notes..............................................19
         SECTION 2.2. Delivery...................................................................................20
         SECTION 2.3. Procedure for Initial Issuance and for Increasing the Series 2001-1 Invested Amount........20
         SECTION 2.4. Sales by CP Conduit Purchasers of Series 2001-1 Investor Notes to APA Banks................22
         SECTION 2.5. Procedure for Decreasing the Series 2001-1 Invested Amount; Optional Termination...........22
         SECTION 2.6. Increases and Reductions of the Commitments; Extensions of the Commitments.................23
         SECTION 2.7. Interest; Fees.............................................................................25
         SECTION 2.8. Indemnification by the Issuer and the Collection Agent.....................................26
         SECTION 2.9. Funding Agents.............................................................................27

ARTICLE 3 ARTICLE V OF THE BASE INDENTURE........................................................................28

         Section 5A.1  Establishment of Series 2001-1 Subaccounts................................................28
         Section 5A.2  Allocations with Respect to the Series 2001-1 Investor Notes..............................29
         Section 5A.3.  Determination of Interest................................................................33
         Section 5A.4.  Monthly Application of Collections.......................................................33
         Section 5A.5  Payment of Monthly Interest Payment, Fees and Expenses....................................34
         Section 5A.6.  Determination of Principal Payment.......................................................35

ARTICLE 4 TERMINATION EVENTS.....................................................................................36

ARTICLE 5 OPTIONAL PREPAYMENT....................................................................................39

ARTICLE 6 COLLECTION AGENT FEE...................................................................................39

         SECTION 6.1. Collection Agent Fee.......................................................................39

ARTICLE 7 CHANGE IN CIRCUMSTANCES................................................................................39

         SECTION 7.1. Illegality.................................................................................39
         SECTION 7.2. Increased Costs............................................................................40
         SECTION 7.3. Taxes......................................................................................41
         SECTION 7.4. Break Funding Payments.....................................................................43
         SECTION 7.5. Alternate Rate of Interest.................................................................43
         SECTION 7.6. Mitigation Obligations.....................................................................44

ARTICLE 8 REPRESENTATIONS AND WARRANTIES, COVENANTS..............................................................44

         SECTION 8.1. Representations and Warranties of the Issuer and Goodyear..................................44
         SECTION 8.2. Covenants of the Issuer and Goodyear.......................................................45
</TABLE>

                                      -i-
<PAGE>   3

<TABLE>
<CAPTION>
<S>                                                                                                             <C>
         SECTION 8.3. Covenants of the Collection Agent..........................................................45
         SECTION 8.4. Obligations Unaffected.....................................................................46
         SECTION 8.5. Designation of Eligible Special Obligors and Additional Eligibility Criteria...............46

ARTICLE 9 CONDITIONS PRECEDENT...................................................................................47

         SECTION 9.1. Conditions Precedent to Effectiveness of Indenture Supplement..............................47

ARTICLE 10 THE ADMINISTRATIVE AGENT..............................................................................51

         SECTION 10.1. Appointment...............................................................................51
         SECTION 10.2. Delegation of Duties......................................................................51
         SECTION 10.3. Exculpatory Provisions....................................................................51
         SECTION 10.4. Reliance by Administrative Agent..........................................................52
         SECTION 10.5. Notice of Collection Agent Termination Event or Termination Event
                       or Potential Termination Event........................................................... 52
         SECTION 10.6. Non-Reliance on the Administrative Agent and Other Purchasers.............................53
         SECTION 10.7. Indemnification...........................................................................53
         SECTION 10.8. The Administrative Agent in Its Individual Capacity.......................................54
         SECTION 10.9. Resignation of Administrative Agent; Successor Administrative Agent.......................54

ARTICLE 11 MISCELLANEOUS.........................................................................................55

         SECTION 11.1. Ratification of Indenture.................................................................55
         SECTION 11.2. Governing Law.............................................................................55
         SECTION 11.3. Further Assurances........................................................................55
         SECTION 11.4. Payments..................................................................................55
         SECTION 11.5. Costs and Expenses........................................................................55
         SECTION 11.6. No Waiver; Cumulative Remedies............................................................55
         SECTION 11.7. Amendments................................................................................56
         SECTION 11.8. Severability..............................................................................57
         SECTION 11.9. Notices...................................................................................57
         SECTION 11.10. Successors and Assigns...................................................................57
         SECTION 11.11. Securities Laws..........................................................................59
         SECTION 11.12. Adjustments; Set-off.....................................................................60
         SECTION 11.13. Counterparts.............................................................................60
         SECTION 11.14. No Bankruptcy Petition...................................................................60
         SECTION 11.15. Termination of this Indenture Supplement.................................................61
         SECTION 11.16. Limited Recourse.........................................................................61
         SECTION 11.17. Waiver of Setoff.........................................................................62
         SECTION 11.18. Conflict of Instructions.................................................................62
         SECTION 11.19. Chase Conflict Waiver....................................................................62
         SECTION 11.20. Submission to Jurisdiction; Waiver of Jury Trial.........................................62
</TABLE>

                                      -ii-
<PAGE>   4

SCHEDULES

Schedule I:                List of CP Conduit Purchasers

Schedule II:               Litigation

EXHIBITS
Exhibit A                  Form of Series 2001-1 Variable Funding Investor Note
Exhibit B:                 Increase Notice
Exhibit C:                 Monthly Settlement Statement
Exhibit D:                 Weekly Report
Exhibit E:                 UCC Certificate
Exhibit F:                 Form of Transfer Supplement
Exhibit G:                 Form of Purchaser Supplement

                                     -iii-

<PAGE>   5

         SERIES 2001-1 SUPPLEMENT, dated as of April 27, 2001 (as amended,
supplemented, restated or otherwise modified from time to time, this "INDENTURE
SUPPLEMENT") among WINGFOOT A/R LLC, a special purpose limited liability company
established under the laws of Delaware (the "ISSUER"), THE GOODYEAR TIRE &
RUBBER COMPANY, as collection agent (in such capacity, the "COLLECTION AGENT"),
the several commercial paper conduits listed on Schedule I and their respective
permitted successors and assigns (the "CP CONDUIT PURCHASERS"; each,
individually, a "CP CONDUIT PURCHASER"), the several banks set forth opposite
the name of each CP Conduit Purchaser on Schedule I and the other banks parties
hereto pursuant to SECTION 11.10(C) (each an "APA BANK" with respect to such CP
Conduit Purchaser), the agent bank set forth opposite the name of each CP
Conduit Purchaser on Schedule I and its permitted successor and assign (the
"FUNDING AGENT" with respect to such CP Conduit Purchaser), Chase, in its
capacity as administrative agent for the CP Conduit Purchasers, the APA Banks
and the Funding Agents (the "ADMINISTRATIVE AGENT"), and The Chase Manhattan
Bank, in its capacity as Indenture Trustee (together with its successors in
trust thereunder as provided in the Base Indenture referred to below, the
"INDENTURE TRUSTEE"), to the Base Indenture, dated as of April 27, 2001, between
the Issuer and the Indenture Trustee (as amended, modified, restated or
supplemented from time to time, exclusive of Indenture Supplements creating new
Series of Investor Notes, the "BASE INDENTURE").

                              PRELIMINARY STATEMENT
                              ---------------------

                  WHEREAS, SECTIONS 2.2 and 12.1 of the Base Indenture provide,
among other things, that the Issuer and the Indenture Trustee may at any time
and from time to time enter into an Indenture Supplement to the Base Indenture
for the purpose of authorizing the issuance of one or more Series of Investor
Notes.

                  NOW, THEREFORE, the parties hereto agree as follows:

                                   DESIGNATION
                                   -----------

                  There is hereby created a Series of Investor Notes to be
issued pursuant to the Base Indenture and this Indenture Supplement and such
Series of Investor Notes shall be designated generally as Floating Rate Asset
Backed Variable Funding Investor Notes, Series 2001-1.

                  The proceeds from the sale of the Series 2001-1 Investor Notes
(as defined herein) and the proceeds from any Increase (as defined herein) shall
be deposited in the Series 2001-1 Collection Subaccount and shall be used by the
Issuer to purchase Receivables from the Seller pursuant to the Receivables
Purchase Agreement.

                                    ARTICLE 1

                                   DEFINITIONS
                                   -----------

                  (a) All capitalized terms not otherwise defined herein are
defined in the Definitions List attached to the Base Indenture as SCHEDULE 1
thereto. All Article, Section or Subsection references herein shall refer to
Articles, Sections or Subsections of this Indenture

<PAGE>   6
                                       2

Supplement, except as otherwise provided herein. Unless otherwise stated herein,
as the context otherwise requires or if such term is otherwise defined in the
Base Indenture, each capitalized term used or defined herein shall relate only
to the Series 2001-1 Investor Notes and not to any other Series of Investor
Notes issued by the Issuer.

                  (b) The following words and phrases shall have the following
meanings with respect to the Series 2001-1 Investor Notes and the definitions of
such terms are applicable to the singular as well as the plural form of such
terms and to the masculine as well as the feminine and neuter genders of such
terms:

                  "ACCRUED EXPENSE AMOUNT" means, for each Business Day, the sum
         of (i) the Daily Interest Amount for such Business Day, (ii) the Daily
         Unused Fee Amount for such Business Day, (iii) the Daily Collection
         Agent Fee Amount for such Business Day and (vi) all Article 7 Costs
         which have accrued since the preceding Business Day.

                  "ACQUIRING APA BANK" is defined in SECTION 11.10(c).

                  "ACQUIRING PURCHASER" is defined in SECTION 11.10(e).

                  "ADDITIONAL CP CONDUIT PURCHASER" is defined in SECTION
         2.6(e).

                  "ADDITIONAL FUNDING AGENT" is defined in SECTION 2.6(e).

                  "ADDITIONAL INTEREST" is defined in SECTION 5A.3(b).

                  "ADJUSTED LIBO RATE" means, with respect to each day during
         each Eurodollar Period pertaining to a portion of the Purchaser
         Invested Amount with respect to any Purchaser allocated to a Eurodollar
         Tranche, an interest rate per annum (rounded upwards, if necessary, to
         the nearest 1/16th of 1%) equal to the LIBO Rate for such Eurodollar
         Period multiplied by the Statutory Reserve Rate.

                  "AFFECTED PARTY" means any CP Conduit Purchaser and any
         Program Support Provider with respect to such CP Conduit Purchaser.

                  "AGGREGATE COMMITMENT AMOUNT" means, on any date of
         determination, the sum of the Commitment Amounts with respect to the
         APA Banks included in each Purchaser on such date.

                  "ALTERNATE BASE RATE" means, for any day, a rate per annum
         equal to the greater of (a) the Prime Rate in effect on such day AND
         (b) the Federal Funds Effective Rate in effect on such day plus 1.5%.
         Any change in the Alternate Base Rate due to a change in the Prime Rate
         or the Federal Funds Effective Rate shall be effective from and
         including the effective day of such change in the Prime Rate or the
         Federal Funds Effective Rate, respectively.

                  "AMORTIZATION PERIOD" means the period commencing on the
         Business Day following the earliest to occur of (i) the date on which
         the Expiry Date with respect to each Purchaser shall have occurred,
         (ii) the Optional Termination Date and (iii) the

<PAGE>   7
                                       3

         Prepayment Date and ending on the date when the Series 2001-1 Invested
         Amount shall have been reduced to zero and all accrued interest and
         other amounts owing on the Series 2001-1 Investor Notes and to the
         Administrative Agent, the CP Conduit Purchasers, the Funding Agents and
         the APA Banks shall have been paid in full.

                  "APA BANK" is defined in the recitals hereto.

                  "APA BANK FUNDED AMOUNT" means, with respect to any Purchaser
         for any day, the excess, if any, of the Purchaser Invested Amount with
         respect to such Purchaser over the CP Conduit Funded Amount for such
         day.

                  "APA BANK PERCENTAGE" means, with respect to any APA Bank, the
         percentage set forth opposite the name of such APA Bank on Schedule I.

                  "APPLICABLE MARGIN" means on any date of determination, (i)
         with respect to the Floating Tranche, (x) 0% per annum prior to the
         deemed or declared occurrence of a Termination Event or the occurrence
         and continuance of a Potential Termination Event and (y) 2% per annum
         after the deemed or declared occurrence of a Termination Event or after
         the occurrence and during the continuance of a Potential Termination
         Event and (ii) with respect to any Eurodollar Tranche, (x) the sum of
         0.125% per annum plus the Applicable Used Fee on such date of
         determination prior to the deemed or declared occurrence of a
         Termination Event or the occurrence and continuance of a Potential
         Termination Event and (y) 4.00% per annum after the deemed or declared
         occurrence of a Termination Event or after the occurrence and during
         the continuance of a Potential Termination Event.

                  "APPLICABLE USED FEE" means on any date of determination, (a)
         during any period when the unsecured long-term debt of Goodyear is
         rated at least A by S&P and at least A2 by Moody's, 0.250% per annum;
         (b) during any period when the unsecured long-term debt of Goodyear
         does not satisfy the ratings required by clause (a) hereof and it is
         rated at least BBB+ by S&P and at least Baa1 by Moody's, 0.325%; (c)
         during any period when the unsecured long-term debt of Goodyear does
         not satisfy the ratings required by clause (a) or (b) hereof and it is
         rated at least BBB- by S&P and at least Baa3 by Moody's, 0.400%; (d)
         during any period when the unsecured long-term debt of Goodyear does
         not satisfy the ratings required by clause (a), (b) or (c) hereof and
         it is rated at least BB by S&P and at least Ba2 by Moody's; 0.500% and
         (e) during any period when the unsecured long-term debt of Goodyear
         does not satisfy the ratings required by clause (a), (b), (c) or (d),
         4.00%; PROVIDED, HOWEVER, that on any date of determination after the
         deemed or declared occurrence of a Termination Event or after the
         occurrence and during the continuance of a Potential Termination Event,
         the Applicable Used Fee shall be 4.00%.

                  "ARTICLE 7 COSTS" means any amounts due pursuant to Article 7.

                  "ASSET PURCHASE AGREEMENT" means, with respect to any CP
         Conduit Purchaser, the asset purchase agreement, liquidity agreement or
         other agreement among such CP Conduit Purchaser, the Funding Agent with
         respect to such CP Conduit Purchaser and the

<PAGE>   8
                                       4

         APA Banks with respect to such CP Conduit Purchaser, as amended,
         modified or supplemented from time to time.

                  "AVAILABLE APA BANK FUNDING AMOUNT" means, with respect to any
         Purchaser for any Business Day, the sum of (i) the portion of such
         Purchaser's Commitment Percentage of the Series 2001-1 Initial Invested
         Amount not to be funded by such Purchaser by issuing Commercial Paper
         if such Business Day is the Series 2001-1 Initial Funding Date, (ii)
         the portion of the APA Bank Funded Amount with respect to such
         Purchaser not allocated to a Eurodollar Tranche on such Business Day,
         (iii) the portion of the APA Bank Funded Amount with respect to such
         Purchaser allocated to any Eurodollar Tranche the Eurodollar Period in
         respect of which expires on such Business Day and (iv) the portion of
         such Purchaser's Purchaser Increase Amount for such Business Day not to
         be funded by such Purchaser by issuing Commercial Paper.

                  "AVAILABLE CP FUNDING AMOUNT" means, with respect to any
         Purchaser for any Business Day, the sum of (i) the portion of such
         Purchaser's Commitment Percentage of the Series 2001-1 Initial Invested
         Amount to be funded by such Purchaser by issuing Commercial Paper if
         such Business Day is the Series 2001-1 Initial Funding Date, (ii) the
         portion of the CP Conduit Funded Amount with respect to such Purchaser
         allocated to any CP Tranche, the CP Rate Period in respect of which
         expires on such Business Day and (iii) the portion of such Purchaser's
         Purchaser Increase Amount for such Business Day to be funded by such
         Purchaser by issuing Commercial Paper.

                  "BOARD" means the Board of Governors of the Federal Reserve
         System or any successor thereto.

                  "CARRYING COST RESERVE" means, on any date of determination
         during a Reporting Period, the percentage equivalent of a fraction, the
         numerator of which is equal to the product of (i) two times DSO as of
         the last day of the Settlement Period immediately preceding the first
         day of such Reporting Period and (ii) the Alternate Base Rate in effect
         as of such date plus 2% and the denominator of which is 365.

                  "CHANGE IN LAW" means (a) any law, rule or regulation or any
         change therein or in the interpretation or application thereof (whether
         or not having the force of law), in each case, adopted, issued or
         occurring after the Series 2001-1 Closing Date or (b) any request,
         guideline or directive (whether or not having the force of law) from
         any government or political subdivision or agency, authority, bureau,
         central bank, commission, department or instrumentality thereof, or any
         court, tribunal, grand jury or arbitrator, in each case, whether
         foreign or domestic (each an "OFFICIAL BODY") charged with the
         administration, interpretation or application thereof, or the
         compliance with any request or directive of any Official Body (whether
         or not having the force of law) made, issued or occurring after the
         Series 2001-1 Closing Date.

                  "COLLECTION AGENT" is defined in the recitals hereto.

                  "COLLECTION AGENT FEE RESERVE" means , on any date of
         determination during a Reporting Period, the percentage equivalent of a
         fraction, the numerator of which is equal

<PAGE>   9
                                       5

         to the product of (i) two times DSO as of the last day of the
         Settlement Period immediately preceding the first day of such Reporting
         Period and (ii) the Collection Agent Fee Rate and the denominator of
         which is 360.

                  "COMMERCIAL PAPER" means, with respect to any CP Conduit
         Purchaser, the promissory notes issued by, or for the benefit of, such
         CP Conduit Purchaser in the commercial paper market.

                  "COMMITMENT" means, with respect to the APA Banks included in
         a Purchaser, the obligation of such APA Banks to purchase a Series
         2001-1 Investor Note on the Series 2001-1 Initial Funding Date and,
         thereafter, to maintain and, subject to certain conditions, increase
         the Purchaser Invested Amount with respect to such Purchaser, in each
         case, in an amount up to the Maximum Purchaser Invested Amount with
         respect to such Purchaser.

                  "COMMITMENT AMOUNt" means, with respect to the APA Banks
         included in a Purchaser, an amount equal to 102% of the Maximum
         Purchaser Invested Amount with respect to such Purchaser.

                  "COMMITMENT PERCENTAGE" means, on any date of determination,
         with respect to any Purchaser, the ratio, expressed as a percentage,
         which such Purchaser's Maximum Purchaser Invested Amount bears to the
         Series 2001-1 Maximum Invested Amount on such date.

                  "CONDUIT ASSIGNEE" means, with respect to any CP Conduit
         Purchaser, any commercial paper conduit administered by the Funding
         Agent with respect to such CP Conduit Purchaser and designated by such
         Funding Agent to accept an assignment from such CP Conduit Purchaser of
         the Purchaser Invested Amount with respect to such CP Conduit Purchaser
         pursuant to SECTION 11.10(b).

                  "CP CONDUIT FUNDED AMOUNT" means, with respect to any
         Purchaser for any day, the portion of the Purchaser Invested Amount
         with respect to such Purchaser funded by such Purchaser through the
         issuance of Commercial Paper outstanding on such day.

                  "CP CONDUIT PURCHASER" is defined in the recitals hereto.

                  "CP RATE PERIOD" means, with respect to any CP Tranche, a
         period of days not to exceed 270 days commencing on a Business Day
         selected in accordance with SECTION 2.7(b); provided that (x) if a CP
         Rate Period would end on a day that is not a Business Day, such CP Rate
         Period shall end on the next succeeding Business Day and (y) during the
         Amortization Period, each CP Rate Period shall end on or prior to the
         next succeeding Payment Date.

                  "CP TRANCHE" means, with respect to a Match Funding CP Conduit
         Purchaser, a portion of the CP Conduit Funded Amount with respect to
         such Match Funding CP Conduit Purchaser for which the Monthly Funding
         Costs with respect to such Match Funding CP Conduit Purchaser is
         calculated by reference to a particular Discount and a particular CP
         Rate Period.

<PAGE>   10
                                       6

                  "DAILY COLLECTION AGENT FEE AMOUNT" means, for any Business
         Day during a Settlement Period, an amount equal to (i) the amount of
         Daily Collection Agent Fee Expense for each day during such Settlement
         Period since the preceding Business Day plus (ii) for each Business Day
         after the occurrence and during the continuance of a Downgrade Event if
         Goodyear is not the Collection Agent, the aggregate amount of all
         previously accrued Daily Collection Agent Fee Expense for such
         Settlement Period that has not yet been deposited in the Collection
         Account for allocation to the Series 2001-1 Expense Subaccount pursuant
         to SECTION 5A.2(b) or, if Goodyear is the Collection Agent, not yet
         paid to the Collection Agent pursuant to SECTION 5A.2(b)(i).

                  "DAILY COLLECTION AGENT FEE EXPENSE" means, for any day, the
         Series 2001-1 Invested Percentage of the Collection Agent Fee accruing
         for such day.

                  "DAILY INTEREST AMOUNT" means, for any Business Day during a
         Settlement Period, an amount equal to (i) the amount of Daily Interest
         Expense for each day during such Settlement Period since the preceding
         Business Day plus (ii) for each Business Day after the occurrence and
         during the continuance of a Downgrade Event, the aggregate amount of
         all previously accrued Daily Interest Expense for such Settlement
         Period that has not yet been deposited in the Collection Account for
         allocation to the Series 2001-1 Expense Subaccount pursuant to SECTION
         5A.2(b).

                  "DAILY INTEREST EXPENSE" means, for each day during a
         Settlement Period, the sum of (i) the product of (A) the Series 2001-1
         Invested Amount on such day divided by 360 and (B) the sum of the
         Applicable Used Fee and the rate appearing on Page 3750 of the Dow
         Jones market screen (or on any successor or substitute page of such
         Service, providing rate quotations comparable to those currently
         provided on such page of such Service, as determined by the
         Administrative Agent from time to time in accordance with its customary
         practices for purposes of providing quotations of interest rates
         applicable to dollar deposits in the London interbank market) at
         approximately 11:00 a.m. (London time) on the second Business Day prior
         to the commencement of such Settlement Period, as the rate for dollar
         deposits with a thirty-day maturity and (ii) plus the amount of
         Additional Interest for such day.

                  "DAILY UNUSED FEE EXPENSE" means, (i) for each day during the
         Revolving Period, the product of (A) the excess of the Aggregate
         Commitment Amount over the Series 2001-1 Invested Amount on such day
         multiplied by (B) the Unused Fee Rate divided by 360 and (ii) for each
         day during the Amortization Period, zero.

                  "DAILY UNUSED FEE AMOUNT" means for any Business Day during a
         Settlement Period, an amount equal to (i) the amount of Daily Unused
         Fee Expense for each day during such Settlement Period since the
         preceding Business Day plus (ii) for each Business Day after the
         occurrence and during the continuance of a Downgrade Event, the
         aggregate amount of all previously accrued Daily Unused Fee Expense for
         such Settlement Period that has not yet been deposited in the
         Collection Account for allocation to the Series 2001-1 Expense
         Subaccount pursuant to SECTION 5A.2(b).

                  "DECREASE" is defined in SECTION 2.5(a).

<PAGE>   11
                                       7

                  "DEFAULT RATIO" means for any Settlement Period, the
         percentage equivalent of a fraction, the numerator of which is the sum
         of (a) the aggregate principal amount of all Receivables which were
         91-120 days past their original due date as of the last day of such
         Settlement Period plus (b) the aggregate principal amount of all
         Receivables which were written off as uncollectible by the Collection
         Agent in accordance with the Credit and Collection Policy during such
         Settlement Period prior to 91 days after their original due dates, and
         the denominator of which is the aggregate principal amount of all
         Receivables originated by the Seller and Dunlop during the Settlement
         Period four Settlement Periods prior to such Settlement Period.

                  "DELINQUENCY RATIO" means for any Settlement Period, the
         percentage equivalent of a fraction, the numerator of which is the
         outstanding principal amount of all Receivables which were Delinquent
         Receivables as of the last day of such Settlement Period and the
         denominator of which is the sum of (i) the Aggregate Outstanding
         Balance and (ii) the outstanding principal amount of all Delinquent
         Receivables.

                  "DILUTION PERIOD" means, on any date of determination during a
         Reporting Period, an amount equal to the quotient of

                  (i) the quotient of (A) the product of (1) the aggregate
         principal amount of all Receivables originated by the Seller and Dunlop
         during the Settlement Period immediately preceding the first day of
         such Reporting Period and (2) DSO as of the last day of such Settlement
         Period divided by (B) 30

                  divided by

                  (ii) the Net Receivables Balance as of the last day of such
         Settlement Period.

                  "DILUTION RATIO" means, for any Settlement Period, the
         percentage equivalent of a fraction, the numerator of which is the
         aggregate amount of Dilution Adjustments made during such Settlement
         Period, and the denominator of which is the aggregate principal amount
         of all Receivables originated by the Seller and Dunlop during the
         immediately preceding Settlement Period.

                  "DILUTION RESERVE" means, on any date of determination during
         a Reporting Period, an amount (expressed as a percentage) that is
         calculated as follows:

                  DR = [(C*D)+[(E-D)*(E/D)]]*F

         Where:

                  DR = Dilution Reserve;

                  C = 2.0;

                  D = the rolling average of the Dilution Ratios for the twelve
         consecutive Settlement Periods ending immediately prior to the first
         day of such Reporting Period;

<PAGE>   12
                                       8

                  E = the highest Dilution Ratio for any Settlement Period
         during the period of twelve consecutive Settlement Periods ending
         immediately prior to the first day of such Reporting Period; and

                  F = the Dilution Period on such date.

                  "DISCOUNT" means, (a) with respect to any Match Funding CP
         Conduit Purchaser, the interest or discount component of the Commercial
         Paper issued by such Match Funding CP Conduit Purchaser, including the
         portion thereof constituting dealer or placement agent commissions, to
         fund the CP Conduit Funded Amount with respect to such Match Funding CP
         Conduit Purchaser and (b) with respect to any Pooled Funding CP Conduit
         Purchaser, the amount of interest or discount to accrue on or in
         respect of the Commercial Paper issued by such Pooled Funding CP
         Conduit Purchaser allocated, in whole or in part, by the Funding Agent
         with respect to such Pooled Funding CP Conduit Purchaser, to fund the
         purchase or maintenance of the CP Conduit Funded Amount with respect to
         such Pooled Funding CP Conduit Purchaser (including, without
         limitation, any interest attributable to the commissions of placement
         agents and dealers in respect of such Commercial Paper and any costs
         associated with funding small or odd-lot amounts, to the extent that
         such commissions or costs are allocated, in whole or in part, to such
         Commercial Paper by such Funding Agent).

                  "DSO" means, as of the last day of any Settlement Period, the
         number of calendar days equal to the product of (a) 91 and (b) the
         amount obtained by dividing (i) the Net Receivables Balance as of such
         date by (ii) the aggregate Outstanding Balance of all Receivables
         originated by the Seller and Dunlop during that Settlement Period and
         the two Settlement Periods preceding such Settlement Period.

                  "EFFECTIVE DATE" is defined in SECTION 9.1.

                  "ELIGIBLE ASSIGNEE" means a financial institution having
         short-term debt ratings of at least A-1 from S&P and P-1 from Moody's.

                  "EURODOLLAR PERIOD" means, with respect to any Eurodollar
         Tranche and any Purchaser:

                           (i) initially, the period commencing on the Series
                  2001-1 Initial Funding Date, the Increase Date or a conversion
                  date, as the case may be, with respect to such Eurodollar
                  Tranche and ending one month thereafter (or such other period
                  which is acceptable to the Funding Agent with respect to such
                  Purchaser and which in no event will be less than 7 days); and

                           (ii) thereafter, each period commencing on the last
                  day of the immediately preceding Eurodollar Period applicable
                  to such Eurodollar Tranche and ending one month thereafter (or
                  such other period which is acceptable to the Funding Agent
                  with respect to such Purchaser and which in no event will be
                  less than 7 days);

<PAGE>   13
                                       9

         provided that each Eurodollar Period must end on the next succeeding
         Payment Date and all of the foregoing provisions relating to Eurodollar
         Periods are subject to the following:

                           (i) if any Eurodollar Period would otherwise end on a
                  day that is not a Business Day, such Eurodollar Period shall
                  be extended to the next succeeding Business Day unless the
                  result of such extension would be to carry such Eurodollar
                  Period into another calendar month, in which event such
                  Eurodollar Period shall end on the immediately preceding
                  Business Day; and

                           (ii) any Eurodollar Period that begins on the last
                  Business Day of a calendar month (or on a day for which there
                  is no numerically corresponding day in the calendar month at
                  the end of such Eurodollar Period) shall end on the last
                  Business Day of the calendar month at the end of such
                  Eurodollar Period.

                  "EURODOLLAR TRANCHE" means, with respect to any Purchaser, a
         portion of the APA Bank Funded Amount with respect to such Purchaser
         allocated to a particular Eurodollar Period and an Adjusted LIBO Rate
         determined by reference thereto.

                  "EXPIRY DATE" means, with respect to any Purchaser, the
         earlier of (a) the Scheduled Expiry Date with respect to such Purchaser
         and (b) the date on which a Termination Event shall have been deemed to
         have occurred or shall have been declared to have occurred.

                  "EXTENDING PURCHASER" shall mean a Purchaser other than a
         Non-Extending Purchaser.

                  "FEDERAL FUNDS EFFECTIVE RATE" means, for any day, the
         weighted average (rounded upwards, if necessary, to the next 1/100 of
         1%) of the rates on overnight Federal funds transactions with members
         of the Federal Reserve System arranged by Federal funds brokers, as
         published on the next succeeding Business Day by the Federal Reserve
         Bank of New York, or, if such rate is not so published for any day that
         is a Business Day, the average (rounded upwards, if necessary, to the
         next 1/100 of 1%) of the quotations for such day of such transactions
         received by the Administrative Agent from three Federal funds brokers
         of recognized standing selected by it.

                  "FINAL MATURITY DATE" means the Payment Date that occurs in
         the 12th month after the month in which the Amortization Period shall
         have commenced.

                  "FLOATING TRANCHE" means, with respect to any Purchaser, the
         portion of the APA Bank Funded Amount with respect to such Purchaser
         not allocated to a Eurodollar Tranche.

                  "FUNDING AGENT" is defined in the recitals hereto.

                  "INCREASE AMOUNT" means, with respect to any Increase Date,
         the amount set forth in the Increase Notice with respect to such
         Increase Date

<PAGE>   14
                                       10

                  "INCREASE DATE" is defined in SECTION 2.3(a).

                  "INCREASE NOTICE" is defined in SECTION 2.3(a).

                  "INCREASED COSTS" means, for each Payment Date, the sum of (1)
         any Article 7 Costs due and payable on such Payment Date and (2) any
         amounts due and payable pursuant to SECTIONS 2.8 or 11.5 on such
         Payment Date.

                  "INCREASES" is defined in SECTION 2.3(a).

                  "INDEMNIFIED TAXES" means Taxes other than Excluded Taxes.

                  "INDENTURE SUPPLEMENT" has the meaning set forth in the
         preamble.

                  "INTEREST SHORTFALL" is defined in SECTION 5A.3(b).

                  "LIBO RATE" means, with respect to each day during each
         Eurodollar Period pertaining to a Eurodollar Tranche, the rate
         appearing on Page 3750 of the Dow Jones market screen (or on any
         successor or substitute page of such Service, providing rate quotations
         comparable to those currently provided on such page of such Service, as
         determined by the Administrative Agent from time to time in accordance
         with its customary practices for purposes of providing quotations of
         interest rates applicable to dollar deposits in the London interbank
         market) at approximately 11:00 a.m. (London time) on the second
         Business Day prior to the commencement of such Eurodollar Period, as
         the rate for dollar deposits with a maturity comparable to the
         Eurodollar Period applicable to such Eurodollar Tranche.

                  "LOSS AND DILUTION RESERVE" means, on any date of
         determination during a Reporting Period, the greater of (a) the sum of
         (i) 12% plus (ii) 2% for each Special Obligor for such Reporting Period
         plus (iii) the product of (A) the rolling average of the Dilution
         Ratios for the twelve consecutive Settlement Periods ending immediately
         prior to the first day of such Reporting Period and (B) the Dilution
         Period on such date and (b) the sum of the Loss Reserve plus the
         Dilution Reserve on such date.

                  "LOSS RESERVE" means, on any date of determination during a
         Reporting Period, an amount (expressed as a percentage) that is
         calculated as follows:

                  LR = (A*B)/C   *   D   *   E

         Where:

                  LR = Loss Reserve;

                  A = the aggregate principal amount of all Receivables
         generated by the Seller and Dunlop during the three Settlement Periods
         ending immediately prior to the first day of such Reporting Period;

<PAGE>   15
                                       11

                  B = the highest three month rolling average of the Default
         Ratios during the period of the twelve consecutive Settlement Periods
         ending immediately prior to the first day of such Reporting Period;

                  C = the Net Receivables Balance as of the last day of the
         Settlement Period ending immediately prior to the first day of such
         Reporting Period;

                  D = 2.00; and

                  E = Payment Terms Factor on such date.

                  "MATCH FUNDING CP CONDUIT PURCHASER" means each CP Conduit
         Purchaser that is identified on Schedule I as a Match Funding CP
         Conduit Purchaser and each CP Conduit Purchaser that, after the Series
         2001-1 Closing Date, notifies the Issuer and the Administrative Agent
         in accordance with SECTION 2.7(d) in writing that it is funding its CP
         Conduit Funded Amount with Commercial Paper issued by it, or for its
         benefit, in specified CP Tranches selected in accordance with Sections
         2.7(b) and (c) and that, in each case, has not subsequently notified
         the Issuer and the Administrative Agent in writing that the Issuer will
         no longer be permitted to select CP Tranches in accordance with
         SECTIONS 2.7(b) and (c) in respect of the CP Conduit Funded Amount with
         respect to such CP Conduit Purchaser.

                  "MAXIMUM PURCHASER INVESTED AMOUNT" means, with respect to any
         Purchaser, the amount set forth opposite the name of the CP Conduit
         Purchaser included in such Purchaser on Schedule I, as such amount may
         be increased or reduced from time to time as provided in SECTION 2.6.
         The Maximum Purchaser Invested Amount with respect to each
         Non-Extending Purchaser shall be reduced to zero on the Scheduled
         Expiry Date with respect to such Purchaser.

                  "MONTHLY FUNDING COSTS" means, with respect to each Settlement
         Period and any Purchaser, the sum of:

                           (i) for each day during such Settlement Period, (A)
                  with respect to a Match Funding CP Conduit Purchaser, the
                  aggregate amount of Discount accruing on all outstanding
                  Commercial Paper issued by, or for the benefit of, such Match
                  Funding CP Conduit Purchaser to fund the CP Conduit Funded
                  Amount with respect to such Match Funding CP Conduit Purchaser
                  on such day or (B) with respect to a Pooled Funding CP Conduit
                  Purchaser, the aggregate amount of Discount accruing on or
                  otherwise in respect of the Commercial Paper issued by, or for
                  the benefit of, such Pooled Funding CP Conduit Purchaser
                  allocated, in whole or in part, by the Funding Agent with
                  respect to such Pooled Funding CP Conduit Purchaser, to fund
                  the purchase or maintenance of the CP Conduit Funded Amount
                  with respect to such Pooled Funding CP Conduit Purchaser on
                  such day; plus

                           (ii) for each day during such Settlement Period, the
                  sum of:

<PAGE>   16
                                       12

                           (A)      the product of (x) the portion of the APA
                                    Bank Funded Amount with respect to such
                                    Purchaser allocated to the Floating Tranche
                                    with respect to such Purchaser on such day
                                    times (y) the Alternate Base Rate plus the
                                    Applicable Margin on such day in effect with
                                    respect thereto, divided by (z) 365 (or 366,
                                    as the case may be) plus

                           (B)      the product of (x) the portion of the APA
                                    Bank Funded Amount with respect to such
                                    Purchaser allocated to Eurodollar Tranches
                                    with respect to such Purchaser on such day
                                    times (y) the weighted average Adjusted LIBO
                                    Rate with respect to such Eurodollar
                                    Tranches plus the Applicable Margin on such
                                    day in effect with respect thereto divided
                                    by (z) 360; plus

                           (iii) for each day during such Settlement Period, the
                  product of (A) the CP Conduit Funded Amount with respect to
                  such Purchaser on such day times (B) the Applicable Used Fee,
                  divided by (C) 360.

                  "MONTHLY INTEREST PAYMENT" is defined in SECTION 5A.4(a).

                  "MONTHLY PRINCIPAL PAYMENT" is defined in SECTION 5A.6.

                  "NON-EXTENDING PURCHASER" means any Purchaser who shall not
         have agreed to an extension of its Scheduled Expiry Date pursuant to
         SECTION 2.6(b) on such Scheduled Expiry Date and thereafter until the
         Purchaser Invested Amount with respect to such Purchaser shall have
         been reduced to zero.

                  "OPTIONAL TERMINATION DATE" is defined in SECTION 2.5(b).

                  "OPTIONAL TERMINATION NOTICE" is defined in SECTION 2.5(b).

                  "OTHER TAXES" means any and all current or future stamp or
         documentary taxes or other excise or property taxes, charges or similar
         levies arising from any payment made under the Transaction Documents or
         from the execution, delivery or enforcement of, or otherwise with
         respect to, any Transaction Document.

                  "OUTSTANDING" means, with respect to the Series 2001-1
         Investor Notes, the Series 2001-1 Invested Amount shall not have been
         reduced to zero and all accrued interest and other amounts owing on the
         Series 2001-1 Investor Notes and to the Administrative Agent, the
         Funding Agents, the CP Conduit Purchasers and the APA Banks hereunder
         shall not have been paid in full.

                  "PARTICIPANTS" is defined in SECTION 11.10(d).

                  "PAYDOWN PERIOD" means any period from but excluding the
         Scheduled Expiry Date with respect to any Non-Extending Purchaser to
         but excluding the earlier of (a) the date on which the Purchaser
         Invested Amounts with respect to all Non-Extending

<PAGE>   17
                                       13

         Purchasers shall have been reduced to zero and (b) the commencement of
         the Amortization Period.

                  "PAYDOWN PERCENTAGE" means, with respect to any Paydown
         Period, the percentage equivalent of a fraction, the numerator of which
         is the aggregate Purchaser Invested Amounts with respect to all
         Non-Extending Purchasers and the denominator of which is the Series
         2001-1 Invested Amount, in each case, as of the first day of such
         Paydown Period; provided, however that if a Purchaser becomes a
         Non-Extending Purchaser after the first day of a Paydown Period, the
         Paydown Percentage shall be recalculated to equal the percentage
         equivalent of a fraction, the numerator of which is the aggregate
         Purchaser Invested Amounts with respect to all Non-Extending Purchasers
         and the denominator of which is the Series 2001-1 Invested Amount, in
         each case, as of the date such Purchaser becomes a Non-Extending
         Purchaser.

                  "PAYMENT DATE" means the 17th day of each month, or if such
         date is not a Business Day, the next succeeding Business Day,
         commencing May 17, 2001.

                  "PAYMENT TERMS FACTOR" means (i) during the period from the
         Series 2001-1 Closing Date until the third Settlement Date thereafter,
         1.365 and (ii) during each three Reporting Periods to occur thereafter,
         the percentage equivalent of a fraction, the numerator of which is the
         sum of (A) the weighted average payment terms (weighted on the basis of
         the Outstanding Balances of the Receivables originated during such
         period and expressed as a number of days) for the Receivables generated
         by the Seller and Dunlop during such period plus (B) 60, and the
         denominator of which is 90; provided, however, that if the Payment
         Terms Factor for any period is less than the Payment Terms Factor for
         the immediately preceding period, then the actual Payment Terms Factor
         for such current period shall be recalculated to equal the percentage
         equivalent of a fraction, the numerator of which is equal to the
         average of the numerators used to calculate the Payment Terms Factor
         for such current period and the three immediately preceding periods
         (without giving effect to this proviso) and the denominator of which is
         90.

                  "POOLED FUNDING CP CONDUIT PURCHASER" means each CP Conduit
         Purchaser that is not a Match Funding CP Conduit Purchaser.

                  "PREPAYMENT DATE" is defined in ARTICLE 5.

                  "PRIME RATE" means the rate of interest per annum publicly
         announced from time to time by Chase as its prime rate in effect at its
         principal office in New York City. Each change in the Prime Rate shall
         be effective from and including the date such change is publicly
         announced as being effective.

                  "PROGRAM SUPPORT PROVIDER" means, with respect to any CP
         Conduit Purchaser, the APA Banks with respect to such CP Conduit
         Purchaser and any other or additional Person now or hereafter extending
         credit, or having a commitment to extend credit to or for the account
         of, or to make purchases from, such CP Conduit Purchaser or issuing a
         letter of credit, surety bond or other instrument to support any
         obligations arising under or in connection with such CP Conduit
         Purchaser's securitization program.

<PAGE>   18
                                       14

                  "PRO RATA SHARE" means, with respect to any Purchaser, on any
         date, the ratio, expressed as a percentage, which the Purchaser
         Invested Amount with respect to such Purchaser bears to the Series
         2001-1 Invested Amount on such date.

                  "PURCHASER" means a CP Conduit Purchaser and the APA Banks
         with respect to such CP Conduit Purchaser.

                  "PURCHASER ADDITION DATE" is defined in SECTION 2.6(e).

                  "PURCHASER INCREASE AMOUNT" means, with respect to any
         Purchaser, for any Business Day, such Purchaser's Commitment Percentage
         of the Increase Amount, if any, on such Business Day.

                  "PURCHASER INVESTED AMOUNT" means, with respect to any
         Purchaser, (a) when used with respect to the Series 2001-1 Initial
         Funding Date, such Purchaser's Commitment Percentage of the Series
         2001-1 Initial Invested Amount and (b) when used with respect to any
         other date, an amount equal to (i) the Purchaser Invested Amount with
         respect to such Purchaser on the immediately preceding Business Day
         plus (ii) the Purchaser Increase Amount with respect to such Purchaser
         on such Business Day minus (iii) the amount of principal payments made
         to such Purchaser pursuant to SECTION 5A.6 on such date.

                  "PURCHASER SUPPLEMENT" is defined in SECTION 11.10(e).

                  "RATING AGENCIES" means, with respect to the Series 2001-1
         Investor Notes, S&P and Moody's.

                  "RATING AGENCY CONDITION" means, with respect to any action
         specified herein or in the Base Indenture as requiring satisfaction of
         the Rating Agency Condition with respect to the Series 2001-1 Investor
         Notes, the Administrative Agent shall have received written
         confirmation, to the extent required, from the Rating Agencies that
         such action will not result in a reduction or withdrawal of the then
         current rating of the Commercial Paper issued by each of the CP Conduit
         Purchasers.

                  "RECORD DATE" means, with respect to each Payment Date, the
         immediately preceding Business Day.

                  "RELATED ADDITIONAL APA BANKS" is defined in SECTION 2.6(e).

                  "REVOLVING PERIOD" means the period from and including the
         Effective Date to but excluding the commencement of the Amortization
         Period.

                  "SCHEDULED EXPIRY DATE" shall mean, with respect to any
         Purchaser, the later of (a) April 26, 2002 and (b) the last day of any
         extension of such Purchaser's Commitment made in accordance with
         SECTION 2.6(b).

                  "SERIES 2001-1" means Series 2001-1 of Investor Notes, the
         Principal Terms of which are set forth in this Indenture Supplement.

<PAGE>   19
                                       15

                  "SERIES 2001-1 ADJUSTED INVESTED AMOUNT" means, on any date of
         determination, the excess of the Series 2001-1 Invested Amount over the
         aggregate amount on deposit in the Collection Account and allocated to
         the Series 2001-1 Principal Collection Subaccount on such date.

                  "SERIES 2001-1 ALLOCATED NET RECEIVABLES BALANCE" means, as of
         any date of determination, the lesser of (a) the Series 2001-1 Required
         Net Receivables Balance as of such date and (b) the product of (i) the
         Net Receivables Balance and (ii) the percentage equivalent of a
         fraction the numerator of which is the Series 2001-1 Required Net
         Receivables Balance as of such date and the denominator of which is the
         sum of (x) the Series 2001-1 Required Net Receivables Balance and (y)
         the aggregate Required Net Receivables Balances with respect to each
         other Series of Outstanding Investor Notes as of such date.

                  "SERIES 2001-1 ALLOCATED RECEIVABLES DEFICIENCY" means, as of
         any date of determination, the amount, if any, by which the Series
         2001-1 Allocated Net Receivables Balance is less than the Series 2001-1
         Required Net Receivables Balance as of such date.

                  "SERIES 2001-1 COLLECTION AGENT FEE" is defined in SECTION
         6.1.

                  "SERIES 2001-1 CLOSING DATE" means May 1, 2001.

                  "SERIES 2001-1 COLLECTION SUBACCOUNT" is defined in SECTION
         5A.1(a).

                  "SERIES 2001-1 DEPOSIT DATE" is defined in SECTION 5A.2(a).

                  "SERIES 2001-1 EXPENSE SUBACCOUNT" is defined in SECTION
         5A.1(a).

                  "SERIES 2001-1 INITIAL FUNDING DATE" is defined in SECTION
         2.1(a).

                  "SERIES 2001-1 INITIAL INVESTED AMOUNT" is defined in SECTION
         2.3(a).

                  "SERIES 2001-1 INVESTED AMOUNT" means, on any date of
         determination, the sum of the Purchaser Invested Amounts with respect
         to each of the Purchasers on such date.

                  "SERIES 2001-1 INVESTED PERCENTAGE" means, with respect to any
         Business Day (i) during the Revolving Period, the percentage equivalent
         (which percentage shall never exceed 100%) of a fraction the numerator
         of which shall be equal to the Series 2001-1 Allocated Net Receivables
         Balance as of the end of the immediately preceding Business Day and the
         denominator of which is the Net Receivables Balance as of the end of
         such immediately preceding Business Day or (ii) during the Amortization
         Period prior to the deemed or declared occurrence of a Termination
         Event, the percentage equivalent (which percentage shall never exceed
         100%) of a fraction the numerator of which shall be equal to the Series
         2001-1 Allocated Net Receivables Balance as of the end of the Revolving
         Period, and the denominator of which is the lesser of (A) the Net
         Receivables Balance as of the end of the immediately preceding Business
         Day or (B) the sum of the numerators used to determine invested
         percentages for allocations for all Series of Investor Notes (and all
         classes of such Series of Investor Notes) as of the end of the
         immediately
<PAGE>   20
                                       16

          preceding Business Day or (iii) during the Amortization Period after
          the deemed or declared occurrence of a Termination Event, the
          percentage equivalent (which percentage shall never exceed 100%) of a
          fraction the numerator of which shall be equal to the Series 2001-1
          Allocated Net Receivables Balance as of the end of the Revolving
          Period, and the denominator of which is the sum of the numerators used
          to determine invested percentages for allocations for all Series of
          Investor Notes (and all classes of such Series of Investor Notes) as
          of the end of the immediately preceding Business Day.

                  "SERIES 2001-1 INVESTOR NOTEHOLDER" means the Person in whose
         name a Series 2001-1 Investor Note is registered in the Note Register.

                  "SERIES 2001-1 INVESTOR NOTE" means any one of the Series
         2001-1 Floating Rate Asset Backed Variable Funding Investor Notes,
         executed by the Issuer and authenticated and delivered by the Indenture
         Trustee, substantially in the form of EXHIBIT A.

                  "SERIES 2001-1 MAXIMUM INVESTED AMOUNT" means, on any date of
         determination, the sum of the Maximum Purchaser Invested Amounts with
         respect to each of the Purchasers on such date. The Series 2001-1
         Maximum Invested Amount shall be reduced by the Maximum Purchaser
         Invested Amount of each Non-Extending Purchaser on the Scheduled Expiry
         Date with respect to such Purchaser.

                  "SERIES 2001-1 MONTHLY INTEREST" is defined in SECTION
         5A.3(a).

                  "SERIES 2001-1 NOTE RATE" means for any Settlement Period, the
         interest rate equal to the product of (a) the percentage equivalent of
         a fraction, the numerator of which is equal to the sum of the Monthly
         Funding Costs with respect to each Purchaser for such Settlement Period
         and the denominator of which is equal to the average daily Series
         2001-1 Invested Amount during such Settlement Period and (b) a
         fraction, the numerator of which is 360 and the denominator of which is
         the number of days in such Settlement Period; provided, however, that
         the Series 2001-1 Note Rate will in no event be higher than the maximum
         rate permitted by applicable law.

                  "SERIES 2001-1 NOTE TERMINATION DATE" means the date on which
         the Series 2001-1 Invested Amount shall have been reduced to zero and
         all accrued and unpaid interest on the Series 2001-1 Notes shall have
         been paid in full.

                  "SERIES 2001-1 PREPAYMENT AMOUNT" means, the sum of the
         following amounts with respect to each Purchaser:

                  (i) the Purchaser Invested Amount with respect to such
         Purchaser, plus

                  (ii) (A) if such Purchaser is a Match Funding CP Conduit
         Purchaser, the sum of (x) all accrued and unpaid Discount on all
         outstanding Commercial Paper issued by, or for the benefit of, such
         Match Funding CP Conduit Purchaser to fund the CP Funded Amount with
         respect to such Match Funding CP Conduit Purchaser from the issuance
         date(s) thereof to but excluding the Prepayment Date and (y) the
         aggregate Discount to accrue on all outstanding Commercial Paper issued
         by, or for the benefit of, such Match Funding CP Conduit Purchaser to
         fund the CP Funded Amount with respect to such

<PAGE>   21
                                       17

         Match Funding CP Conduit Purchaser from and including the Prepayment
         Date to and excluding the maturity date of each CP Tranche with respect
         to such Match Funding CP Conduit Purchaser or (B) if such Purchaser is
         a Pooled Funding CP Conduit Purchaser, the sum of (x) the aggregate
         amount of Discount on or in respect of the Commercial Paper issued by,
         or for the benefit of, such Pooled Funding CP Conduit Purchaser
         allocated, in whole or in part, by the Funding Agent with respect to
         such Pooled Funding CP Conduit Purchaser, to fund the purchase or
         maintenance of the CP Funded Amount with respect to such Pooled Funding
         CP Conduit Purchaser as of the Prepayment Date and (y) the aggregate
         amount of Discount to accrue on or in respect of the Commercial Paper
         issued by, or for the benefit of, such Pooled Funding CP Conduit
         Purchaser allocated, in whole or in part, by the Funding Agent with
         respect to such Pooled Funding CP Conduit Purchaser, to fund the
         purchase or maintenance of the CP Funded Amount with respect to such
         Pooled Funding CP Conduit Purchaser from and including the Prepayment
         Date to and excluding the maturity dates of such Commercial Paper; plus

                  (iii) all accrued and unpaid interest on the APA Bank Funded
         Amount with respect to such Purchaser, calculated at the Alternate Base
         Rate or the applicable Adjusted LIBO Rate plus the Applicable Margin as
         of the Prepayment Date, plus

                  (iv) the sum of (A) for each day from but excluding the last
         day of the Settlement Period immediately preceding the Prepayment Date,
         the product of (x) the CP Funded Amount with respect to such Purchaser
         on such day times (y) the Applicable Used Fee divided by (z) 360 plus
         (B) if the Prepayment Date is on or before the Settlement Date for such
         immediately preceding Settlement Period, for each day during such
         Settlement Period, the product of (x) the CP Funded Amount with respect
         to such Purchaser on such day times (y) the Applicable Used Fee divided
         by (z) 360; plus

                  (v) the sum of (A) for each day from but excluding the last
         day of the Settlement Period immediately preceding the Prepayment Date,
         the product of (x) the excess, if any, of the Commitment Amount with
         respect to such Purchaser over the Purchaser Invested Amount with
         respect to such Purchaser on such day times (y) the Unused Fee Rate
         divided by (z) 360 plus (B) if the Prepayment Date is on or before the
         Settlement Date for such immediately preceding Settlement Period, the
         Unused Fee payable to such Purchaser for such Settlement Period
         pursuant to Section 2.7(e);

                  (vi) all Article 7 Costs then due and payable to such
         Purchaser, plus

                  (vii) without duplication, any other amounts then due and
         payable to such Purchaser pursuant to SECTION 2.8 and 11.5.

                  "SERIES 2001-1 PRINCIPAL COLLECTION SUBACCOUNT" is defined in
         SECTION 5A.1(a).

                  "SERIES 2001-1 REQUIRED NET RECEIVABLES BALANCE" means, as of
         any date of determination, the sum of (i) the Series 2001-1 Adjusted
         Invested Amount and (ii) the Series 2001-1 Required Reserves as of such
         date.

                  "SERIES 2001-1 REQUIRED RESERVES" means, on any date of
         determination, an amount equal to the sum of:

<PAGE>   22
                                       18

                           (i) an amount equal to the product of (A) the Series
                  2001-1 Adjusted Invested Amount on such date and (B) the
                  percentage equivalent of a fraction, the numerator of which is
                  the Loss and Dilution Reserve on such date and the denominator
                  of which is one minus the Loss and Dilution Reserve on such
                  date;

                           (ii) an amount equal to the product of (A) the Series
                  2001-1 Invested Amount on such date and (B) the percentage
                  equivalent of a fraction, the numerator of which is the
                  Carrying Cost Reserve on such date and the denominator of
                  which is one minus the Loss and Dilution Reserve on such date;
                  and

                           (iii) an amount equal to the product of (A) the
                  Aggregate Outstanding Balance on such date, (B) the quotient
                  of (x) the Series 2001-1 Invested Amount on such date divided
                  by (y) the Aggregate Invested Amount on such date, and (C) the
                  percentage equivalent of a fraction, the numerator of which is
                  the Collection Agent Fee Reserve on such date and the
                  denominator of which is one minus the Loss and Dilution
                  Reserve on such date.

                  "SERIES 2001-1 REQUIRED INVESTOR NOTEHOLDERS" means Purchasers
         having Commitment Percentages aggregating 66 2/3% or more.

                  "SERIES 2001-1 SUBACCOUNTS" is defined in SECTION 5A.1(a).

                  "STATUTORY RESERVE RATE" means a fraction (expressed as a
         decimal), the numerator of which is the number one and the denominator
         of which is the number one minus the aggregate of the maximum reserve
         percentages (including any marginal, special, emergency or supplemental
         reserves) expressed as a decimal (rounded up to the nearest 1/100th of
         1%) established by the Board with respect to the Adjusted LIBO Rate,
         for eurocurrency funding (currently referred to as "Eurocurrency
         Liabilities" in Regulation D of the Board). Such reserve percentages
         shall include those imposed pursuant to Regulation D. Eurodollar
         Tranches shall be deemed to constitute eurocurrency funding and to be
         subject to such reserve requirements without benefit of or credit for
         proration, exemptions or offsets that may be available from time to
         time under such Regulation D or comparable regulation. The Statutory
         Reserve Rate shall be adjusted automatically on and as of the effective
         date of any change in the reserve percentage.

                  "TAXES" means any and all present or future taxes, levies,
         imposts, duties, deductions, charges or withholdings now or hereafter
         imposed by any Governmental Authority.

                  "TERMINATION EVENT" is defined in ARTICLE 4.

                   "TRANSFEREE" is defined in SECTION 11.10(f).

                  "TRANSFEREE SUPPLEMENT" is defined in SECTION 11.10(c).

                  "UNUSED FEE" is defined in SECTION 2.7(e).
<PAGE>   23
                                       19

                  "UNUSED FEE PAYMENT" is defined in SECTION 5A.4(a).

                  "UNUSED FEE RATE" means 0.20% per annum.

                                   ARTICLE 2

               PURCHASE AND SALE OF SERIES 2001-1 INVESTOR NOTES;
               --------------------------------------------------

            INCREASES AND DECREASES OF SERIES 2001-1 INVESTED AMOUNT
            --------------------------------------------------------

           SECTION 2.1. PURCHASES OF THE SERIES 2001-1 INVESTOR NOTES

         (a) INITIAL PURCHASES. Subject to the terms and conditions of this
Indenture Supplement, including delivery of notice in accordance with SECTION
2.3, (i) each CP Conduit Purchaser may, in its sole discretion, purchase a
Series 2001-1 Investor Note in an amount equal to all or a portion of its
Commitment Percentage of the Series 2001-1 Initial Invested Amount on any
Business Day during the period from the Effective Date to and including the
Expiry Date with respect to such CP Conduit Purchaser (the "SERIES 2001-1
INITIAL FUNDING DATE"), and if such CP Conduit Purchaser shall have notified the
Administrative Agent and the Funding Agent with respect to such CP Conduit
Purchaser that it has elected not to fund a Series 2001-1 Investor Note in an
amount equal to its Commitment Percentage of the Series 2001-1 Initial Invested
Amount on the Series 2001-1 Initial Funding Date, each APA Bank with respect to
such CP Conduit Purchaser shall fund on the Series 2001-1 Initial Funding Date
its APA Bank Percentage of that portion of such Series 2001-1 Investor Note not
to be funded by such CP Conduit Purchaser and (ii) thereafter, (A) if a CP
Conduit Purchaser shall have purchased a Series 2001-1 Investor Note on the
Series 2001-1 Initial Funding Date, such CP Conduit Purchaser may, in its sole
discretion, maintain its Series 2001-1 Investor Note, subject to increase or
decrease during the period from the Effective Date to and including the Expiry
Date with respect to such CP Conduit Purchaser, in accordance with the
provisions of this Indenture Supplement and (B) the APA Banks with respect to
such CP Conduit Purchaser shall maintain their respective APA Bank Percentages
of the Series 2001-1 Investor Note with respect to such Purchaser, subject to
increase or decrease during the period from the Effective Date to and including
the Expiry Date with respect to such CP Conduit Purchaser, in accordance with
the provisions of this Indenture Supplement. Payments by each CP Conduit
Purchaser and/or the APA Banks with respect to such CP Conduit Purchaser shall
be made in immediately available funds on the Series 2001-1 Initial Funding Date
to the Funding Agent with respect to such CP Conduit Purchaser for remittance to
the Indenture Trustee for deposit into the Series 2001-1 Collection Subaccount.

         (b) MAXIMUM PURCHASER INVESTED AMOUNTS. Notwithstanding anything to the
contrary contained in this Indenture Supplement, at no time shall the Purchaser
Invested Amount with respect to any Purchaser exceed the Maximum Purchaser
Invested Amount with respect to such Purchaser at such time.

         (c) FORM OF SERIES 2001-1 INVESTOR NOTES. The Series 2001-1 Investor
Notes shall be issued in fully registered form without interest coupons,
substantially in the form set forth in EXHIBIT A hereto.

<PAGE>   24
                                       20

         SECTION 2.2. DELIVERY.

         (a) On the Series 2001-1 Initial Funding Date, the Issuer shall sign
and shall direct the Indenture Trustee in writing pursuant to SECTION 2.4 of the
Base Indenture to duly authenticate, and the Indenture Trustee, upon receiving
such direction, shall so authenticate a Series 2001-1 Investor Note in the name
of the Funding Agent with respect to each Purchaser in an amount equal to the
Maximum Purchaser Invested Amount with respect to such Purchaser and deliver
such Series 2001-1 Investor Note to such Funding Agent in accordance with such
written directions.

         (b) The Administrative Agent shall maintain a record of the actual
Purchaser Invested Amount outstanding with respect to each Purchaser and the
actual Series 2001-1 Invested Amount outstanding on any date of determination,
which, absent manifest error, shall constitute PRIMA FACIE evidence of the
outstanding Purchaser Invested Amounts and outstanding Series 2001-1 Invested
Amount from time to time.

         SECTION 2.3. PROCEDURE FOR INITIAL ISSUANCE AND FOR INCREASING THE
SERIES 2001-1 INVESTED AMOUNT.

         (a) Subject to SECTION 2.3(c), (i) on the Series 2001-1 Initial Funding
Date, each CP Conduit Purchaser may agree, in its sole discretion, to purchase,
and the APA Banks with respect to such CP Conduit Purchaser shall purchase, a
Series 2001-1 Investor Note in accordance with SECTION 2.1 and (ii) on any
Settlement Date or on the second Business Day following any Weekly Reporting
Date (other than a Weekly Reporting Date occurring during the first 60 days
following the first occurrence of a Downgrade Event) during the period from the
Effective Date to and including the Expiry Date with respect to a CP Conduit
Purchaser, such CP Conduit Purchaser may agree, in its sole discretion, and each
APA Bank with respect to such CP Conduit Purchaser hereby agrees, that the
Purchaser Invested Amount with respect to such Purchaser may be increased (an
"INCREASE") by an amount equal to its APA Bank Percentage of the Commitment
Percentage with respect to such Purchaser of the Increase Amount, upon the
request of the Issuer (each date on which an Increase occurs hereunder being
herein referred to as the "INCREASE DATE" applicable to such Increase);
provided, however, that the Issuer shall have given the Administrative Agent
(with a copy to the Indenture Trustee) irrevocable written notice (effective
upon receipt), by telecopy (receipt confirmed), substantially in the form of
EXHIBIT B (an "INCREASE NOTICE"), of such request no later than 1:00 P.M., New
York City time, on the second Business Day prior to such Increase Date. Such
notice shall state (x) the Increase Date and (y) the proposed Increase Amount.
The Issuer shall give the Administrative Agent (with a copy to the Indenture
Trustee) irrevocable written notice (effective upon receipt), by telecopy
(receipt confirmed), of the Series 2001-1 Initial Funding Date and the proposed
initial invested amount of the Series 2001-1 Notes (the "SERIES 2001-1 INITIAL
INVESTED AMOUNT") no later 1:00 P.M., New York City time, on the second Business
Day prior to the Series 2001-1 Initial Funding Date.

         (b) If a CP Conduit Purchaser elects not to fund the full amount of its
Commitment Percentage of the Series 2001-1 Initial Invested Amount or a
requested Increase Amount, such CP Conduit Purchaser shall notify the
Administrative Agent and the Funding Agent with respect to such CP Conduit
Purchaser, and each APA Bank with respect to such CP

<PAGE>   25
                                       21

Conduit Purchaser shall fund its APA Bank Percentage of the portion of the
Commitment Percentage with respect to such Purchaser of the Series 2001-1
Initial Invested Amount or such Increase Amount, as the case may be, not funded
by such CP Conduit Purchaser.

         (c) No Purchaser shall be required to make the initial purchase of a
Series 2001-1 Investor Note on the Series 2001-1 Initial Funding Date or to
increase its Purchaser Invested Amount on any Increase Date hereunder unless:

                  (i) in the case of the Series 2001-1 Initial Funding Date, the
         Series 2001-1 Initial Invested Amount is at least $1,000,000 for each
         Purchaser;

                  (ii) in the case of any Increase Date, the Increase Amount is
         equal to $1,000,000 or an integral multiple of $100,000 in excess
         thereof;

                  (iii) after giving effect to the initial purchase amount or
         Increase Amount, the Purchaser Invested Amount with respect to such
         Purchaser would not exceed the Maximum Purchaser Invested Amount with
         respect to such Purchaser;

                  (iv) after giving effect to the initial purchase amount or
         Increase Amount, no Series 2001-1 Allocated Receivables Deficiency
         would have occurred and be continuing;

                  (v) no Termination Event or Potential Termination Event shall
         have been deemed to have occurred or shall have been declared to have
         occurred and be continuing; and

                  (vi) all of the representations and warranties made by each of
         the Issuer, the Seller, the Collection Agent and Dunlop in each
         Transaction Document to which it is a party are true and correct in all
         material respects on and as of the Series 2001-1 Initial Funding Date
         or such Increase Date, as the case may be, as if made on and as of such
         date (except to the extent such representations and warranties are
         expressly made as of another date).

The Issuer's acceptance of funds in connection with (x) the initial purchase of
Series 2001-1 Investor Notes on the Series 2001-1 Initial Funding Date and (y)
each Increase occurring on any Increase Date shall constitute a representation
and warranty by the Issuer to the applicable Purchasers as of the Series 2001-1
Initial Funding Date or such Increase Date, as the case may be, that all of the
conditions contained in this SECTION 2.3(c) have been satisfied.

         (d) Upon receipt of any notice required by SECTION 2.3(a) from the
Issuer, the Administrative Agent shall forward (by telecopy or electronic
messaging system) a copy of such notice to the Funding Agent with respect to
each Purchaser, no later than 1:00 P.M., New York City time, on the day
received. After receipt by any Funding Agent with respect to a Purchaser of such
notice from the Administrative Agent, such Funding Agent shall, so long as the
conditions set forth in SECTIONS 2.3(a) and (c) are satisfied, promptly provide
telephonic notice to the related CP Conduit Purchaser and the related APA Banks,
of the Increase Date and of such Purchaser's Commitment Percentage of the
Increase Amount. If such CP Conduit Purchaser

<PAGE>   26
                                       22

elects to fund all or a portion of its Commitment Percentage of the Increase
Amount, such CP Conduit Purchaser shall pay in immediately available funds its
Commitment Percentage (or any portion thereof) of the amount of such Increase on
the related Increase Date to the Funding Agent with respect to such Purchaser
for deposit into the Series 2001-1 Collection Subaccount. If such CP Conduit
Purchaser does not fund the full amount of its Commitment Percentage of the
Increase Amount and the related APA Banks are required to fund the portion
thereof not funded by the CP Conduit Purchaser, each such APA Bank shall pay in
immediately available funds its APA Bank Percentage of such portion on the
related Increase Date to the Funding Agent with respect to such Purchaser for
deposit in the Series 2001-1 Collection Subaccount. Each Funding Agent shall
remit the amounts received by it from its CP Conduit Purchaser or the related
APA Banks pursuant to this SECTION 2.3(d) to the Indenture Trustee for deposit
into the Collection Account and allocation to the Series 2001-1 Principal
Collection Subaccount.

         SECTION 2.4. SALES BY CP CONDUIT PURCHASERS OF SERIES 2001-1 INVESTOR
NOTES TO APA BANKS.

                  Notwithstanding any limitation to the contrary contained
herein, each CP Conduit Purchaser may, in its own discretion, at any time, sell
or assign all or any portion of its interest in its Series 2001-1 Investor Note
to any Conduit Assignee or to the APA Banks with respect to such CP Conduit
Purchaser pursuant to, and subject to the terms and conditions of, the Asset
Purchase Agreement with respect to such CP Conduit Purchaser.

         SECTION 2.5. PROCEDURE FOR DECREASING THE SERIES 2001-1 INVESTED
AMOUNT; OPTIONAL TERMINATION.

         (a) Upon the written request of the Issuer or the Collection Agent on
behalf of the Issuer, the Series 2001-1 Invested Amount may be reduced (a
"DECREASE") on any Reporting Date during the Revolving Period, in the case of
any Decrease in an amount less than $50,000,000 or, on the second Business Day
following any Reporting Date during the Revolving Period, in the case of any
Decrease in an amount of $50,000,000 or more, by the Indenture Trustee's
withdrawing from the Series 2001-1 Principal Collection Subaccount and
distributing to the Administrative Agent funds on deposit in the Series 2001-1
Principal Collection Subaccount on such day in accordance with SECTION 5A.6(d)
in an amount not to exceed the amount of such funds available on such day in the
Series 2001-1 Principal Collection Subaccount; provided that the Collection
Agent shall have given the Administrative Agent (with a copy to the Indenture
Trustee) irrevocable written notice (effective upon receipt) of the amount of
such Decrease prior to 9:30 A.M., New York City time, on the second Business Day
prior to such Reporting Date, in the case of any such Decrease in an amount less
than $50,000,000, and prior to 9:30 A.M., New York City time, on a Business Day
that is at least five Business Days prior to such Reporting Date, in the case of
any such Decrease in an amount of $50,000,000 or more; provided, further, that
any such Decrease shall be in an amount equal to $1,000,000 and integral
multiples of $100,000 in excess thereof. Upon each Decrease, the Administrative
Agent shall indicate in its records such Decrease and the Purchaser Invested
Amount outstanding with respect to each Purchaser, after giving effect to such
Decrease. Upon receipt of any notice required by SECTION 2.5(a) from the Issuer,
the Administrative Agent shall forward (by telecopy or electronic messaging
system) a copy of such notice to the Funding Agent with respect to each
Purchaser, no later than 1:00 P.M., New York City time, on the day received.

<PAGE>   27
                                       23

         (b) On any Business Day, the Issuer shall have the right to deliver an
irrevocable written notice (an "OPTIONAL TERMINATION NOTICE") to the
Administrative Agent, the Indenture Trustee and the Collection Agent in which
the Issuer declares that the Commitments shall terminate on the date (the
"OPTIONAL TERMINATION DATE") set forth in such notice (which date, in any event,
shall be a Payment Date not less than twenty Business Days from the date on
which such notice is delivered). Upon receipt of any Optional Termination Notice
from the Issuer, the Administrative Agent shall promptly notify the Funding
Agent with respect to each Purchaser thereof. From and after the Optional
Termination Date, the Amortization Period shall commence for all purposes under
this Indenture Supplement and the other Transaction Documents.

         SECTION 2.6. INCREASES AND REDUCTIONS OF THE COMMITMENTS; EXTENSIONS OF
THE COMMITMENTS.

         (a) The Issuer may from time to time request that any Purchaser agree
to increase its Maximum Purchaser Invested Amount. An increase in any Maximum
Purchaser Invested Amount shall be effective hereunder if such Purchaser shall
have agreed to such increase in its Maximum Purchaser Invested Amount.

         (b) If the Issuer desires to extend the Scheduled Expiry Date with
respect to the Purchasers, the Issuer shall notify the Administrative Agent no
more than four months prior to such Scheduled Expiry Date of its desire to
extend the Scheduled Expiry Date with respect to the Purchasers, whereupon the
Administrative Agent shall notify the Funding Agent with respect to each
Purchaser of the Issuer's desire to so extend the Scheduled Expiry Date. Each
Funding Agent, on behalf of its Purchaser, shall notify the Administrative Agent
and the Issuer in writing of whether such Purchaser agrees to an extension of
the Scheduled Expiry Date with respect to such Purchaser within thirty days of
the receipt of the request for extension; provided that failure by a Funding
Agent to respond to such request shall not be construed as a consent by such
Purchaser to such extension. The decision to extend or not extend shall be made
by each Purchaser in its sole discretion. In the event that any Purchaser
desires to extend its Scheduled Expiry Date for an amount that is less than its
Maximum Purchaser Invested Amount prior to the Issuer's request for an
extension, the Issuer, in its sole discretion, may accept such extension;
provided, however, that such Purchaser (x) shall be deemed to be a Non-Extending
Purchaser for purposes of SECTION 5A.6(d) having a Purchaser Invested Amount
equal to the excess of (A) its Purchaser Invested Amount over (B) a percentage
of its Maximum Purchaser Invested Amount that will be available after the
extension of its Scheduled Expiry Date equal to the percentage equivalent of a
fraction, the numerator of which is the sum of the Purchaser Invested Amounts
with respect to all Extending Purchasers, other than such Purchaser and any
other Purchaser reducing its Maximum Purchaser Invested Amount, and the
denominator of which is the sum of the Maximum Purchaser Invested Amounts of all
Extending Purchasers, other than such Purchaser and any other Purchaser reducing
its Maximum Purchaser Invested Amount, and (y) shall be deemed to be an
Extending Purchaser with a Maximum Purchaser Invested Amount equal to the
portion of its Maximum Purchaser Invested Amount that will be available after
the extension of its Scheduled Expiry Date.

         (c) On any Business Day during the Revolving Period, the Issuer may,
upon two (2) Business Days' prior written notice to the Administrative Agent
(effective upon receipt)

<PAGE>   28
                                       24

(with copies to the Collection Agent and the Indenture Trustee) reduce the
Series 2001-1 Maximum Invested Amount in an amount equal to $10,000,000 or a
whole multiple of $1,000,000 in excess thereof; PROVIDED that no such
termination or reduction shall be permitted if, after giving effect thereto and
to any reduction in the Series 2001-1 Invested Amount on such date, the
Purchaser Invested Amount with respect to any Purchaser would exceed the Maximum
Purchaser Invested Amount with respect to such Purchaser then in effect. Any
reduction in the Series 2001-1 Maximum Invested Amount shall be made on a pro
rata basis to the Maximum Purchaser Invested Amounts with respect to the
Purchasers, based on the Maximum Purchaser Invested Amount with respect to each
Purchaser. Once reduced, the Maximum Purchaser Invested Amounts may not be
subsequently reinstated.

         (d) If, after receiving a request for extension of its Scheduled Expiry
Date from the Issuer pursuant to SECTION 2.6(b), the Funding Agent with respect
to a CP Conduit Purchaser notifies the Issuer in writing of its decision not to
extend its Scheduled Expiry Date as requested or fails to respond to the
Issuer's request within 30 days of its receipt of such request, at the request
of the Issuer, such CP Conduit Purchaser and the APA Banks with respect to such
CP Conduit Purchaser shall assign all or any portion of their respective rights
and obligations under this Indenture Supplement and the Series 2001-1 Notes
pursuant to SECTION 11.10(e) to a replacement CP Conduit Purchaser and the APA
Banks with respect to such replacement CP Conduit Purchaser selected by the
Issuer upon payment by the replacement CP Conduit Purchaser and the APA Banks
with respect to such replacement CP Conduit Purchaser of the Purchaser Invested
Amount with respect such Non-Extending Purchaser (or the applicable portion
thereof) plus any accrued interest and fees thereon and any other amounts owed
to such Non-Extending Purchaser hereunder (the "PURCHASE PRICE"). The Purchase
Price with respect to any Non-Extending Purchaser shall be equivalent to the
Series 2001-1 Prepayment Amount with respect to such Purchaser (or the
applicable portion thereof), calculated as if the date of the assignment to the
replacement CP Conduit Purchaser and the APA Banks with respect to such CP
Conduit Purchaser were the Prepayment Date.

         (e) The Issuer may at any time add a multi-seller commercial paper
conduit as an additional CP Conduit Purchaser (an "ADDITIONAL CP CONDUIT
PURCHASER") and one or more banks providing support to the Additional CP Conduit
Purchaser as APA Banks with respect to the Additional CP Conduit Purchaser (the
"RELATED ADDITIONAL APA BANKS"), with the prior written consent of the
Administrative Agent (which consent shall not be unreasonably withheld), by
providing at least ten Business Days written notice of (i) the names of the
Additional CP Conduit Purchaser, the Related Additional APA Banks and the
funding agent with respect to the Additional CP Conduit Purchaser and the
Related Additional APA Banks (the "ADDITIONAL FUNDING AGENT"), (ii) the date on
which the Issuer desires to effect such addition (the "PURCHASER ADDITION
DATE"), (iii) the proposed Maximum Purchaser Invested Amount with respect to the
Additional CP Conduit Purchaser and the Related Additional APA Banks and (iv)
the Commitment Percentage of each Purchaser, on the Purchaser Addition Date
after giving effect to the addition of the Additional CP Conduit Purchaser and
the Related Additional APA Banks. On the Purchaser Addition Date, each CP
Conduit Purchaser, the APA Banks with respect to such CP Conduit Purchaser and
the Funding Agent with respect to such CP Conduit Purchaser shall make an
assignment to the Additional CP Conduit Purchaser, the Related Additional APA
Banks and the Additional Funding Agent pursuant to SECTION 11.10(e), as directed
by the Administrative Agent, with the result that after giving effect thereto,
the Purchaser Invested

<PAGE>   29
                                       25

Amount with respect to each such Purchaser shall equal the product of (x) the
Series 2001-1 Invested Amount on the Purchaser Addition Date and (y) the
Commitment Percentage of such Purchaser on the Purchaser Addition Date after
giving effect to the addition of the Additional CP Conduit Purchaser and the
Related Additional APA Banks.

         SECTION 2.7. INTEREST; FEES.

         (a) Interest shall be payable on the Series 2001-1 Investor Notes on
each Payment Date pursuant to SECTION 5A.4.

         (b) On any Business Day, the Issuer may, subject to SECTION 2.7(c),
elect to allocate all or any portion of the Available CP Funding Amount with
respect to any Match Funding CP Conduit Purchaser, to one or more CP Tranches
with CP Rate Periods commencing on such Business Day by giving the
Administrative Agent and the Funding Agent with respect to such Match Funding CP
Conduit Purchaser irrevocable written or telephonic (confirmed in writing)
notice thereof, which notice must be received by such Funding Agent prior to
11:00 A.M., New York City time, one Business Day prior to such Business Day.
Such notice shall specify (i) the applicable Business Day, (ii) the CP Rate
Period for each CP Tranche to which a portion of the Available CP Funding Amount
with respect to such Purchaser is to be allocated and (iii) the portion of such
Available CP Funding Amount being allocated to each such CP Tranche. On any
Business Day, the Issuer may, subject to SECTION 2.7(c), elect to allocate all
or any portion of the Available APA Bank Funding Amount with respect to any
Purchaser to one or more Eurodollar Tranches with Eurodollar Periods commencing
on such Business Day by giving the Administrative Agent and the Funding Agent
with respect to such Purchaser irrevocable written or telephonic (confirmed in
writing) notice thereof, which notice must be received by such Funding Agent
prior to 1:00 P.M., New York City time, three Business Days prior to such
Business Day. Such notice shall specify (i) the applicable Business Day, (ii)
the Eurodollar Period for each Eurodollar Tranche to which a portion of the
Available APA Bank Funding Amount with respect to such Purchaser is to be
allocated and (iii) the portion of such Available APA Bank Funding Amount being
allocated to each such Eurodollar Tranche. The Funding Agent with respect to a
Purchaser shall notify the CP Conduit Purchaser and the APA Banks with respect
to such Purchaser of the contents of such notice promptly upon receipt thereof.

         (c) Notwithstanding anything to the contrary contained in this SECTION
2.7, (i) (A) each Match Funding CP Conduit Purchaser shall approve the length of
each CP Rate Period and the portion of the Available CP Funding Amount with
respect to such Match Funding CP Conduit Purchaser allocated to such CP Rate
Period, (B) such Match Funding CP Conduit Purchaser may select, in its sole
discretion, any new CP Rate Period if (x) the Issuer does not provide notice of
a new CP Rate Period on a timely basis or (y) the Funding Agent with respect to
such Match Funding CP Conduit Purchaser, on behalf of such Match Funding CP
Conduit Purchaser, determines, in its sole discretion, that the CP Rate Period
requested by the Issuer is unavailable or for any reason commercially
undesirable and (C) the portion of the Available CP Funding Amount with respect
to such Match Funding CP Conduit Purchaser allocable to each CP Tranche must be
in an amount equal to $1,000,000 or an integral multiple of $100,000 in excess
thereof and (ii) (A) the portion of the Available APA Bank Funding Amount
with respect to any Purchaser allocable to each Eurodollar Tranche must be in an
amount equal to $100,000 or an integral multiple of $100,000 in excess thereof,
(B) no more than 10 Eurodollar Tranches

<PAGE>   30
                                       26

with respect to such Purchaser shall be outstanding at any one time, (C) after
the deemed or declared occurrence and during the continuance of any Termination
Event or Potential Termination Event, the Issuer may not elect to allocate any
portion of the Available APA Bank Funding Amount with respect to any Purchaser
to a Eurodollar Tranche and (D) during the Amortization Period, the Issuer may
not select any Eurodollar Period that does not end on or prior to the next
succeeding Payment Date.

         (d) On any Business Day, a Match Funding CP Conduit Purchaser may elect
that the Issuer no longer be permitted to select CP Tranches in accordance with
SECTIONS 2.7(b) and (c) in respect of the CP Conduit Funded Amount with respect
to such CP Conduit Purchaser by giving the Issuer and the Administrative Agent
irrevocable written notice thereof, which notice must be received by the Issuer
and the Administrative Agent at least one Business Day prior to such Business
Day. On any Business Day, a Pooled Funding CP Conduit Purchaser may elect
thereafter to allow the Issuer to select CP Tranches in accordance with SECTIONS
2.7(b) and (c) in respect of the CP Conduit Funded Amount with respect to such
CP Conduit Purchaser by giving the Issuer and the Administrative Agent
irrevocable written notice thereof, which notice must be received by the Issuer
and the Administrative Agent at least one Business Day prior to such Business
Day. Any CP Conduit Purchaser making an election to change the manner in which
its funding costs in respect of its Series 2001-1 Investor Note are allocated in
accordance with this SECTION 2.7(d) will be both a Match Funding CP Conduit
Purchaser and a Pooled Funding CP Conduit Purchaser during the period that its
Series 2001-1 Investor Note is funded on both a "pooled" and "match funded"
basis and its Monthly Funding Costs during that period will be calculated
accordingly.

         (e) The Issuer shall pay pursuant to SECTION 5A.4 to the Administrative
Agent, for the account of each Purchaser, on each Payment Date, an unused fee
with respect to the most recent Settlement Period (the "UNUSED FEE") for each
Settlement Period (or portion thereof) during the period from the Effective Date
to and including the Expiry Date with respect to such Purchaser at the Unused
Fee Rate times (i) the average daily Commitment Amount with respect to such
Purchaser during such Settlement Period minus (ii) the average daily Purchaser
Invested Amount with respect to such Purchaser during such Settlement Period.
The Unused Fee shall be payable monthly in arrears on each Payment Date.

         (f) Calculations of per annum rates under this Indenture Supplement
shall be made on the basis of a 360- (or 365-/366-, in the case of interest on
the Floating Tranche based on the Prime Rate) day year. Calculations of Unused
Fees shall be made on the basis of a 360-day year. Each determination of the
Adjusted LIBO Rate by the Administrative Agent shall be conclusive and binding
upon each of the parties hereto in the absence of manifest error.

         SECTION 2.8. INDEMNIFICATION BY THE ISSUER AND THE COLLECTION AGENT.

         (a) The Issuer agrees to indemnify and hold harmless the Indenture
Trustee, the Administrative Agent, each Funding Agent, each Purchaser and each
of their respective officers, directors, agents and employees (each, a "COMPANY
INDEMNIFIED PERSON") from and against any loss, liability, expense, damage or
injury suffered or sustained by (a "CLAIM") such Company indemnified person by
reason of (i) any acts, omissions or alleged acts or omissions arising out of,
or relating to, activities of the Issuer pursuant to the Indenture or the other

<PAGE>   31
                                       27

Transaction Documents to which it is a party, (ii) a breach of any
representation or warranty made or deemed made by or on behalf of the Issuer in
the Indenture or other Transaction Document or (iii) a failure by the Issuer (A)
to comply with any applicable law or regulation (B) or to perform its covenants,
agreements, duties or obligations required to be performed or observed by it in
accordance with the provisions of the Indenture or the other Transaction
Documents, including, but not limited to, any judgment, award, settlement,
reasonable attorneys' fees and other reasonable costs or expenses incurred in
connection with the defense of any actual or threatened action, proceeding or
claim, except, in each case, to the extent such loss, liability, expense, damage
or injury (A) resulted from the gross negligence, bad faith or wilful misconduct
of such Company indemnified person, (B) constitutes recourse for Receivables
which are not collected, not paid or uncollectible on account of the insolvency,
bankruptcy, inability to pay or lack of creditworthiness of the applicable
Obligor or (C) includes any Excluded Taxes; provided that any payments made by
the Issuer pursuant to this SECTION 2.8 shall be made solely from funds
available therefor pursuant to SECTION 5A.4 and from any other funds otherwise
payable to the Issuer pursuant to the Base Indenture or any Indenture
Supplement, shall be non-recourse other than with respect to such funds, and
shall not constitute a claim against the Issuer or the Seller or any of their
respective Affiliates to the extent that such funds are insufficient to make
such payment.

         (b) The Collection Agent agrees to indemnify and hold harmless the
Indenture Trustee, the Administrative Agent, each Funding Agent, each Purchaser
and each of their respective officers, directors, agents and employees (each, a
"COLLECTION AGENT INDEMNIFIED PERSON") from and against any Claim by reason of
(i) any acts, omissions or alleged acts or omissions arising out of, or relating
to, activities of the Collection Agent pursuant to the Indenture or the other
Transaction Documents to which it is a party, (ii) a breach of any
representation or warranty made by or on behalf of the Collection Agent in the
Indenture or other Transaction Document or (iii) a failure by the Collection
Agent (A) to comply with any applicable law or regulation or (B) to perform its
covenants, agreements, duties or obligations required to be performed or
observed by it in accordance with the provisions of the Indenture or the other
Transaction Documents, including, but not limited to, any judgment, award,
settlement, reasonable attorneys' fees and other reasonable costs or expenses
incurred in connection with the defense of any actual or threatened action,
proceeding or claim, except, in each case, to the extent such loss, liability,
expense, damage or injury (A) resulted from the gross negligence, bad faith or
wilful misconduct of such Collection Agent indemnified person, (B) constitutes
recourse for Receivables which are not collected, not paid or uncollectible on
account of the insolvency, bankruptcy, inability to pay or lack of
creditworthiness of the applicable Obligor or (C) includes Excluded Taxes.

         SECTION 2.9. FUNDING AGENTS.

         (a) The Funding Agent with respect to each Purchaser is hereby
authorized to record on each Business Day the CP Funded Amount with respect to
such Purchaser and the aggregate amount of Discount accruing with respect
thereto on such Business Day and the APA Bank Funded Amount with respect to such
Purchaser and the amount of interest accruing with respect thereto on such
Business Day and, based on such recordations, to determine the Monthly Funding
Costs with respect to each Settlement Period and such Purchaser. Any such
recordation by a Funding Agent, absent manifest error, shall constitute PRIMA
FACIE evidence of the accuracy

<PAGE>   32
                                       28

of the information so recorded. Furthermore, the Funding Agent with respect to
each Purchaser will maintain records sufficient to identify the percentage
interest of the related CP Conduit Purchaser and each APA Bank with respect to
such Purchaser holding an interest in the Series 2001-1 Investor Note registered
in the name of such Funding Agent and any amounts owing thereunder.

         (b) Upon receipt of funds from the Administrative Agent on each Payment
Date, each Funding Agent shall pay such funds to the related CP Conduit
Purchaser and/or the related APA Bank owed such funds in accordance with the
recordations maintained by it in accordance with SECTION 2.9(a) and the Asset
Purchase Agreement with respect to such CP Conduit Purchaser. If a Funding Agent
shall have paid to any CP Conduit Purchaser or APA Bank any funds that (i) must
be returned for any reason (including bankruptcy) or (ii) exceeds that which
such CP Conduit Purchaser or APA Bank was entitled to receive, such amount shall
be promptly repaid to such Funding Agent by such CP Conduit Purchaser or APA
Bank.

                                   ARTICLE 3

                         ARTICLE V OF THE BASE INDENTURE
                         -------------------------------

         SECTIONS 5.1 through 5.3 of the Base Indenture and each other Section
of Article V of the Indenture relating to another Series shall read in their
entirety as provided in the Base Indenture or any applicable Indenture
Supplement. ARTICLE V of the Base Indenture (except for SECTIONS 5.1 through 5.3
thereof and any portion thereof relating to another Series) shall read in its
entirety as follows and shall be exclusively applicable to the Series 2001-1
Investor Notes:

         SECTION 5A.1. ESTABLISHMENT OF SERIES 2001-1 COLLECTION SUBACCOUNTS.

         (a) The Indenture Trustee shall establish and maintain in the name of
the Indenture Trustee for the benefit of the Series 2001-1 Investor Noteholders
(i) a subaccount of the Collection Account (the "SERIES 2001-1 COLLECTION
SUBACCOUNT") and (ii) two subaccounts of the Series 2001-1 Collection
Subaccount: (1) the Series 2001-1 Expense Subaccount and (2) the Series 2001-1
Principal Collection Subaccount (respectively, the "SERIES 2001-1 EXPENSE
SUBACCOUNT" and the "SERIES 2001-1 PRINCIPAL COLLECTION SUBACCOUNT"; the
accounts established pursuant to this Section 5A.1, collectively, the "SERIES
2001-1 SUBACCOUNTS"); each Series 2001-1 Subaccount shall bear a designation
indicating that the funds deposited therein are held for the benefit of the
Series 2001-1 Investor Noteholders. The Indenture Trustee shall possess all
right, title and interest in all moneys, instruments, securities and other
property on deposit from time to time in the Series 2001-1 Subaccounts and the
proceeds thereof as security for the benefit of the Series 2001-1 Investor
Noteholders. The Series 2001-1 Subaccounts shall be under the sole dominion and
control of the Indenture Trustee for the benefit of the Series 2001-1 Investor
Noteholders.

         (b) So long as no Termination Event shall have been deemed to have
occurred or shall have been declared to have occurred, the Issuer shall instruct
the institution maintaining the Collection Account in writing to invest funds on
deposit in the Series 2001-1 Subaccounts at all times in Permitted Investments
selected by the Issuer (by standing instructions or otherwise); PROVIDED,
HOWEVER, that funds on deposit in a Series 2001-1 Subaccount may be invested

<PAGE>   33
                                       29

together with funds held in other subaccounts of the Collection Account. Amounts
on deposit and available for investment in the Series 2001-1 Principal
Collection Subaccount shall be invested by the Indenture Trustee, at the written
direction of the Issuer during the Revolving Period in Permitted Investments
that mature, or that are payable or redeemable upon demand of the holder
thereof, on or prior to the next Business Day and during the Amortization Period
in Permitted Investments that mature, or that are payable or redeemable upon
demand of the holder thereof, on or prior to the Business Day immediately
preceding the next Payment Date. Amounts on deposit and available for investment
in the Series 2001-1 Expense Subaccount shall be invested by the Indenture
Trustee; at the written direction of the Issuer, so long as no Termination Event
shall have been deemed to have occurred or shall have been declared to have
occurred, in Permitted Investments that mature, or that are payable or
redeemable upon demand of the holder thereof, on or prior to the Business Day
immediately preceding the next Payment Date. Amounts on deposit and available
for investment in the Series 2001-1 Collection Subaccount shall be invested by
the Indenture Trustee; at the written direction of the Issuer, so long as no
Termination Event shall have been deemed to have occurred or shall have been
declared to have occurred, in Permitted Investments that mature, or that are
payable or redeemable upon demand of the holder thereof, on or prior to the
Business Day immediately preceding the next Payment Date. On each Settlement
Date, all interest and other investment earnings (net of losses and investment
expenses) on funds deposited in the Series 2001-1 Collection Subaccount, the
Series 2001-1 Principal Collection Subaccount and the Series 2001-1 Expense
Subaccount shall be deposited in the Series 2001-1 Collection Subaccount. The
Issuer shall not direct the Indenture Trustee to dispose of (or permit the
disposal of) any Permitted Investments prior to the maturity thereof to the
extent such disposal would result in a loss of principal of such Permitted
Investment. In the absence of written direction as provided hereunder, all funds
on deposit in the Collection Account shall remain uninvested.

         (c) After the deemed or declared occurrence of a Termination Event, the
Administrative Agent shall instruct the institution maintaining the Collection
Account in writing to invest funds on deposit in the Series 2001-1 Subaccounts
from time to time in Permitted Investments selected by the Administrative Agent
(by standing instructions or otherwise). Amounts on deposit and available for
investment in the Series 2001-1 Subaccounts shall be invested by the Indenture
Trustee at the written direction of the Administrative Agent in Permitted
Investments that mature, or that are payable or redeemable upon demand of the
holder thereof, on or prior to the Business Day immediately preceding the next
Payment Date. On each Settlement Date, all interest and other investment
earnings (net of losses and investment expenses) on funds deposited in the
Series 2001-1 Subaccounts shall be deposited in the Series 2001-1 Collection
Subaccount. The Administrative Agent shall not direct the Indenture Trustee to
dispose of (or permit the disposal of) any Permitted Investments prior to the
maturity thereof to the extent such disposal would result in a loss of principal
of such Permitted Investment. In the absence of written direction as provided
hereunder, all funds on deposit shall remain uninvested.

         SECTION 5A.2. ALLOCATIONS WITH RESPECT TO THE SERIES 2001-1 INVESTOR
NOTES.

         (a) PRIOR TO A DOWNGRADE EVENT. For so long as no Downgrade Event shall
have occurred and be continuing, on each Business Day during the Revolving
Period on which the Collection Agent receives Collections in the form of
available funds in the Lock-Box

<PAGE>   34
                                       30

Accounts prior to 12:00, New York City time (each a "SERIES 2001-1 DEPOSIT
DATE"), the Collection Agent shall allocate to the Series 2001-1 Investor Notes
an amount equal to the product of the Series 2001-1 Invested Percentage on such
Business Day and the aggregate amount of Collections so received on such
Business Day and shall, at the election of the Collection Agent on behalf of the
Issuer:

                  (i) apply such funds pursuant to Section 2.3 of the
         Receivables Purchase Agreement or to reduce the outstanding principal
         amount of the Subordinated Note;

                  (ii) deposit such funds to the Collection Account for
         allocation to the Series 2001-1 Principal Collection Subaccount; or

                  (iii) deposit such funds to the Collection Account for
         allocation to the Series 2001-1 Accrued Expense Account;

         provided, however that

                           (A) during each Reporting Period, the Collection
                  Agent shall retain from such funds an aggregate amount equal
                  to the Accrued Expense Amount for every Business Day during
                  the Settlement Period ending during such Reporting Period and
                  hold such funds on behalf of the Issuer or deposit such funds
                  into the Collection Account for allocation to the Series
                  2001-1 Accrued Expense Account;

                           (B) if there is a Series 2001-1 Allocated Receivables
                  Deficiency, the Collection Agent shall deposit into the
                  Collection Account for allocation to the Series 2001-1
                  Principal Collection Subaccount the lesser of (x) the amount
                  of such funds less any amounts retained by the Collection
                  Agent pursuant to clause (A) above and (y) the amount of such
                  funds sufficient to cure such Series 2001-1 Allocated
                  Receivables Deficiency; and

                           (C) during any Paydown Period, the Collection Agent
                  shall deposit into the Collection Account for allocation to
                  the Series 2001-1 Principal Collection Subaccount an amount
                  from such funds equal to the Paydown Percentage with respect
                  to such Paydown Period of the amount of such funds less any
                  amounts retained by the Collection Agent pursuant to clause
                  (A) above.

Not later than 1:00 p.m., New York City time, on each Transfer Date, the
Collection Agent shall deposit into the Collection Account the portion of the
funds retained by the Collection Agent during the Reporting Period then ending
pursuant to clause (A) of the proviso to SECTION 5A.2(a) and not previously
deposited into the Collection Account and direct the Indenture Trustee to
allocate such funds to the Series 2001-1 Expense Subaccount. Pending the deposit
of funds retained by the Collection Agent pursuant to clause (A) of the proviso
to SECTION 5A.2(a) into the Collection Account, the Collection Agent shall hold
such funds on behalf of the Issuer but shall not be required to segregate such
funds from the funds of Goodyear.

<PAGE>   35
                                       31

         (b) AFTER A DOWNGRADE EVENT. On each Series 2001-1 Deposit Date during
the Revolving Period after a Downgrade Event shall have occurred and is
continuing, the Collection Agent shall deposit or cause to be deposited into the
Collection Account prior to 12:00, New York City time on such Series 2001-1
Deposit Date an amount equal to the product of the Series 2001-1 Invested
Percentage and the aggregate amount of Collections so received on such Series
2001-1 Deposit Date and direct the Indenture Trustee in writing to allocate such
funds to the Series 2001-1 Collection Subaccount and to further allocate such
funds as follows:

                  (i) to the Series 2001-1 Expense Subaccount, an amount equal
         to the Accrued Expense Amount for each Business Day since the
         immediately preceding Series 2001-1 Deposit Date; PROVIDED, HOWEVER
         that if Goodyear is the Collection Agent the Collection Agent may
         direct the Indenture Trustee in writing to withhold from such
         allocation, and pay to the Collection Agent, an amount equal to the
         Daily Collection Agent Fee Amount for each Business Day since the
         immediately preceding Series 2001-1 Deposit Date; and

                  (ii) following the transfer pursuant to clause (i) above, to
         the Series 2001-1 Principal Collection Subaccount, any remaining funds
         on deposit in the Series 2001-1 Collection Subaccount.

The Collection Agent shall deposit into the Collection Account an amount equal
to the funds paid to the Collection Agent on account of the Daily Collection
Agent Fee Amount for each Business Day during any Settlement Period pursuant to
clause (i) above and direct the Indenture Trustee to allocate such funds to the
Series 2001-1 Expense Subaccount not later than 1:00 p.m., New York City time,
on the Transfer Date preceding the Payment Date on which such amounts are
payable to the Collection Agent hereunder. Pending deposit of those funds, those
funds shall represent a deposit on behalf of the Issuer of the Series 2001-1
Collection Agent Fee payable to the Collection Agent and the Collection Agent
shall not be required to segregate such funds from the funds of Goodyear and may
use such funds for the general corporate purposes of Goodyear..

         (c) SERIES 2001-1 PRINCIPAL COLLECTION SUBACCOUNT. On any Business Day
during the Revolving Period (whether or not a Downgrade Event shall have
occurred and be continuing), the Collection Agent may direct the Indenture
Trustee in writing to:

                  (i) distribute to the Collection Agent on behalf of the Issuer
         for application pursuant to Section 2.3 of the Receivables Purchase
         Agreement or to reduce the outstanding principal amount of the
         Subordinated Note, the proceeds of any Increase deposited in the Series
         2001-1 Principal Collection Subaccount pursuant to SECTION 2.3(d) on
         such Business Day; or

                  (ii) distribute to the Collection Agent all amounts on deposit
         in the Collection Account and allocated to the Series 2001-1 Principal
         Collection Subaccount for application on behalf of the Issuer pursuant
         to Section 2.3 of the Receivables Purchase Agreement or to reduce the
         outstanding principal amount of the Subordinated Note; provided, that

<PAGE>   36
                                       32

                  (A) no distribution to the Collection Agent shall be made
         pursuant to this SECTION 5A.2(c)(ii) to the extent that, after giving
         effect to such distribution, there would be a Series 2001-1 Allocated
         Receivables Deficiency; and

                  (B) during any Paydown Period, (x) amounts deposited into the
         Collection Account and allocated to the Series 2001-1 Principal
         Collection Subaccount pursuant to Clause (C) of the proviso to SECTION
         5A.2(a) and (y) the Paydown Percentage with respect to such Paydown
         Period of all amounts deposited in the Collection Account and allocated
         to the Series 2001-1 Principal Collection Subaccount pursuant to
         SECTION 5A.2(b)(ii) shall be retained in the Series 2001-1 Principal
         Collection Subaccount and applied to effect a Decrease in accordance
         with SECTION 2.5(a).

         (d) TERMINATION EVENT. No later than one Business Day after the deemed
or declared occurrence of a Termination Event, the Collection Agent shall (x)
deposit into the Collection Account and direct the Indenture Trustee to allocate
to the Series 2001-1 Collection Subaccount any Collections allocated to the
Series 2001-1 Investor Noteholders that have not been applied pursuant to
Section 2.3 of the Receivables Purchase Agreement or to reduce the outstanding
principal amount of the Subordinated Note or otherwise deposited into the
Collection Account hereunder and (y) direct the Indenture Trustee in writing to
allocate to the Series 2001-1 Collection Subaccount all funds then allocated to
the Series 2001-1 Principal Collection Subaccount.

         (e) AMORTIZATION PERIOD. On each Business Day during the Amortization
Period on which the Collection Agent receives Collections in the form of
available funds in the Lock-Box Accounts prior to 12:00, New York City time, the
Collection Agent shall deposit into the Collection Account an amount equal to
the product of the Series 2001-1 Invested Percentage on such Business Day and
the aggregate amount of Collections received on such Business Day and direct the
Indenture Trustee in writing to allocate such funds to the Series 2001-1
Investor Noteholders and the Series 2001-1 Collection Subaccount.

         (f) SERIES 2001-1 INITIAL FUNDING DATE. The Issuer hereby directs the
Indenture Trustee to pay to the Seller the proceeds from the initial sale of the
Series 2001-1 Investor Notes for application in accordance with Section 2.3 of
the Receivables Purchase Agreement.

         (g) COLLECTIONS ALLOCATED TO OTHER SERIES OF INVESTOR NOTES. The
Collection Agent shall direct the Indenture Trustee in writing to allocate to
the Series 2001-1 Investor Noteholders and the Series 2001-1 Principal
Collection Subaccount any amounts allocated to another Series of Investor Notes
that the Issuer or the Collection Agent, on behalf of the Issuer, has elected to
apply to reduce the Series 2001-1 Invested Amount.

         (h) DECREASE. If the Collection Agent shall have given the
Administrative Agent written notice of a Decrease in accordance with SECTION
2.5(a), the Collection Agent may direct the Indenture Trustee in writing by
10:00 a.m., New York City time, on the date of such Decrease, to withdraw
amounts on deposit in the Series 2001-1 Principal Collection Subaccount

<PAGE>   37
                                       33

and reduce the Series 2001-1 Invested Amount on the date of such Decrease in
accordance with SECTIONS 2.5 and 5A.6(d).

         SECTION 5A.3. DETERMINATION OF INTEREST

         (a) On the third Business Day prior to each Payment Date, the
Collection Agent shall determine the Series 2001-1 Note Rate for the most recent
Settlement Period, based on the information provided by the Funding Agents
pursuant to this SECTION 5A.3(a), and the amount of interest payable on such
Payment Date on the Series 2001-1 Investor Notes ("SERIES 2001-1 MONTHLY
INTEREST"). Series 2001-1 Monthly Interest for each Series 2001-1 Interest
Period will equal the product of (i) the Series 2001-1 Note Rate for such
Settlement Period, (ii) the average daily Series 2001-1 Invested Amount during
such Settlement Period and (iii) the actual number of days elapsed in such
Settlement Period divided by 360. On the fifth Business Day prior to each
Payment Date, the Funding Agent with respect to each Purchaser shall provide
written notice to the Collection Agent of the Monthly Funding Costs with respect
to such Purchaser with respect to the most recent Settlement Period.

         (b) On the third Business Day prior to each Payment Date, the
Collection Agent shall determine the excess, if any (the "INTEREST SHORTFALL"),
of (i) the sum of (x) the Series 2001-1 Monthly Interest for the most recent
Settlement Period and (y) the amount of any unpaid Interest Shortfall, as of the
preceding Payment Date (together with any Additional Interest on such Interest
Shortfall) OVER (ii) the amount which will be available to be distributed to the
Purchasers on such Payment Date in respect thereof pursuant to this Indenture
Supplement. If the Interest Shortfall with respect to any Payment Date is
greater than zero, an additional amount ("ADDITIONAL INTEREST") equal to the
product of (A) the number of days until such Interest Shortfall shall be repaid
divided BY 365 (or 366, as the case may be), (B) the Alternate Base Rate plus
2.0% and (C) such Interest Shortfall (or the portion thereof which has not been
paid to the Series 2001-1 Investor Noteholders) shall be payable as provided
herein on each Payment Date following such Payment Date, to but excluding the
Payment Date on which such Interest Shortfall is paid to the Series 2001-1
Investor Noteholders.

         SECTION 5A.4. MONTHLY APPLICATION OF COLLECTIONS.

         (a) On each Payment Date during the Revolving Period, based solely on
the information contained in the Monthly Settlement Statement with respect to
Series 2001-1 Investor Notes, the Indenture Trustee shall apply the following
amounts allocated to the Series 2001-1 Expense Subaccount on such Payment Date
in the following order of priority:

                  (i) if Goodyear is not the Collection Agent, to the Collection
         Agent, an amount equal to the Series 2001-1 Collection Agent Fee for
         the most recent Settlement Period;

                  (ii) to the Administrative Agent, for the account of the
         Series 2001-1 Investor Noteholders, an amount equal to the Series
         2001-1 Monthly Interest payable on such Payment Date plus the amount of
         any unpaid Interest Shortfall, as of the preceding Payment Date,
         together with any Additional Interest on such Interest Shortfall (such
         amount, the "MONTHLY INTEREST PAYMENT");

<PAGE>   38
                                       34

                  (iii) to the Administrative Agent, for the account of the
         Series 2001-1 Investor Noteholders, an amount equal to the Unused Fee
         for the most recent Settlement Period plus the amount of any unpaid
         Unused Fee for any prior Settlement Period (such amount, the "UNUSED
         FEE PAYMENT");

                  (iv) if Goodyear is the Collection Agent, to the Collection
         Agent, an amount equal to the Series 2001-1 Collection Agent Fee for
         the most recent Settlement Period;

                  (v) to the Administrative Agent, for the account of the
         applicable Series 2001-1 Investor Noteholders, an amount equal to any
         Increased Costs payable on such Payment Date; and

                  (vi) to the Issuer, any amounts remaining on deposit in the
         Series 2001-1 Expense Subaccount.

         (b) On each Payment Date during the Amortization Period, based solely
on the information contained in the Monthly Settlement Statement with respect to
Series 2001-1 Investor Notes, the Indenture Trustee shall apply the following
amounts allocated to the Series 2001-1 Collection Subaccount on such Payment
Date in the following order of priority:

                  (i) if Goodyear is not the Collection Agent, to the Collection
         Agent, an amount equal to the Series 2001-1 Collection Agent Fee for
         the most recent Settlement Period;

                  (ii) to the Administrative Agent , for the account of the
         Series 2001-1 Investor Noteholders, an amount equal to the Series
         2001-1 Monthly Interest Payment;

                  (iii) if Goodyear is the Collection Agent, to the Collection
         Agent, an amount equal to the Series 2001-1 Collection Agent Fee for
         the most recent Settlement Period;

                  (iv) to the Administrative Agent, for the account of the
         Series 2001-1 Investor Noteholders, an amount up to the Series 2001-1
         Invested Amount on such Payment Date;

                  (v) to the Administrative Agent, for the account of the
         applicable Series 2001-1 Investor Noteholders, an amount equal to any
         Increased Costs payable on such Payment Date; and

                  (vi) to the Issuer, any amounts remaining on deposit in the
         Series 2001-Collection Subaccount.

         SECTION 5A.5. PAYMENT OF MONTHLY INTEREST PAYMENT, FEES AND EXPENSES.

         (a) Upon the receipt of funds from the Indenture Trustee on each
Payment Date on account of the Monthly Interest Payment, the Administrative
Agent shall pay to each

<PAGE>   39
                                       35

Funding Agent with respect to a Purchaser an amount equal to the Monthly Funding
Costs with respect to such Purchaser with respect to the most recent Settlement
Period plus the amount of any unpaid Interest Shortfall payable to such
Purchaser as of the preceding Payment Date, together with any Additional
Interest thereon. If the amount paid to the Administrative Agent on any Payment
Date pursuant to SECTION 5A.4 is less than the Monthly Interest Payment on such
Payment Date, the Administrative Agent shall pay the amount available to the
Funding Agents, on behalf of the Purchasers, on a pro rata basis, based on the
Monthly Funding Costs with respect to each Purchaser with respect to the most
recent Settlement Period.

         (b) Upon the receipt of funds from the Indenture Trustee on each
Payment Date on account of the Unused Fee Payment, the Administrative Agent
shall pay to each Funding Agent with respect to a Purchaser an amount equal to
the Unused Fee payable to such Purchaser with respect to the most recent
Settlement Period plus the amount of any unpaid Unused Fee for any prior
Settlement Period payable to such Purchaser. If the amount paid to the
Administrative Agent on any Payment Date pursuant to SECTION 5A.4 is less than
the Unused Fee Payment on such Payment Date, the Administrative Agent shall pay
the amount available to the Funding Agents, on behalf of the Purchasers, on a
pro rata basis, based on the Unused Fee payable to each Purchaser with respect
to the most recent Settlement Period.

         (c) Upon the receipt of funds from the Indenture Trustee on any Payment
Date on account of Increased Costs, the Administrative Agent shall pay such
amounts to the Funding Agent with respect to the CP Conduit Purchaser or the APA
Bank owed such amounts. If the amounts paid to the Administrative Agent on any
Payment Date pursuant to SECTION 5A.4 are less than the Increased Costs due and
payable on such Payment Date, the Administrative Agent shall pay the amounts
available to the Funding Agents with respect to the CP Conduit Purchasers and
APA Banks owed such amounts, on a pro rata basis, based on the amounts owing to
such CP Conduit Purchasers and APA Banks.

         SECTION 5A.6. DETERMINATION AND PAYMENT OF PRINCIPAL.

         (a) The principal amount of the Series 2001-1 Investor Notes shall be
due and payable on the Final Maturity Date.

         (b) The amount of principal distributable to the Series 2001-1 Investor
Noteholders on any Payment Date during the Amortization Period (the "MONTHLY
PRINCIPAL PAYMENT") shall be equal to the amount available on such Payment Date
to be distributed to the Administrative Agent pursuant to SECTION 5A.4(b)(iv).

         (c) Upon the receipt of funds from the Indenture Trustee on any Payment
Date on account of the Monthly Principal Payment, the Administrative Agent shall
pay to each Funding Agent with respect to a Purchaser, such Purchaser's Pro Rata
Share of the Monthly Principal Payment.

         (d) On the date of any Decrease, the Indenture Trustee shall pay to the
Administrative Agent, for the account of the Series 2001-1 Investor Noteholders,
from the Series 2001-1 Principal Collection Subaccount the amount of the
Decrease indicated in the request

<PAGE>   40
                                       36

received by the Indenture Trustee pursuant to SECTION 2.5(a). Upon the receipt
of funds on account of a Decrease from the Indenture Trustee, the Administrative
Agent shall pay

                  (i) during a Paydown Period, to each Funding Agent with
         respect to a Non-Extending Purchaser, a pro rata amount of such
         Decrease, based on the Purchaser Invested Amount with respect to such
         Non-Extending Purchaser relative to the Purchaser Invested Amounts with
         respect to all Non-Extending Purchasers on the date of such Decrease;
         and

                  (ii) other than during any Paydown Period, to each Funding
         Agent with respect to a Purchaser, such Purchaser's Pro Rata Share of
         the amount of such Decrease (or, in the case of a Decrease occurring on
         a date when the aggregate Purchaser Invested Amounts of all
         Non-Extending Purchasers shall have been reduced to zero, such
         Purchaser's Pro Rata Share of the amount of such Decrease remaining
         after the application of such Decrease pursuant to SECTION 5A.6(d)(i)).

Each Purchaser's share of the amount of any Decrease on any Business Day shall
be allocated by such Purchaser first to reduce the Available CP Funding Amount
with respect to such Purchaser and the Available APA Bank Funding Amount with
respect to such Purchaser on such Business Day and then to reduce the portion of
the Purchaser Invested Amount with respect to such Purchaser allocated to CP
Tranches and Eurodollar Tranches in such order as such Purchaser may select in
order to minimize costs payable pursuant to SECTION 7.4.

                                   ARTICLE 4

                               TERMINATION EVENTS
                               ------------------

         If any one of the following events shall occur with respect to the
Series 2001-1 Investor Notes:

         (a) a Series 2001-1 Allocated Receivables Deficiency shall occur and
continue for two Business Days after the earlier to occur of (i) the date upon
which the Issuer or the Collection Agent obtains knowledge of such Series 2001-1
Allocated Receivables Deficiency and (ii) the date on which written notice of
such Series 2001-1 Allocated Receivables Deficiency shall have been given to the
Issuer or the Collection Agent by the Administrative Agent or any Funding Agent;

         (b) a Purchase Termination Event shall have occurred and the Issuer's
obligation to purchase Receivables under the Receivables Purchase Agreement
shall have terminated in accordance with Section 6.1 of the Receivables Purchase
Agreement;

         (c) an Event of Default with respect to the Series 2001-1 Investor
Notes shall have occurred and the maturity of the Series 2001-1 Investor Notes
shall have been accelerated in accordance with Section 9.2 of the Base
Indenture;

         (d) an Insolvency Event shall occur with respect to Goodyear or the
Issuer;

<PAGE>   41
                                       37

         (e) the Indenture Trustee shall for any reason cease to have a valid
and perfected first priority security interest in the Collateral, free and clear
of any Adverse Claims, other than Permitted Liens, or any of Goodyear, the
Issuer or any Affiliate of either thereof shall so assert in writing; PROVIDED,
HOWEVER that a Termination Event may not be declared under this paragraph (e) if
there shall be a lien on one or more Purchased Receivables and (x) the Seller
shall repurchase such Purchased Receivables in accordance with Section 2.6 of
the Receivables Purchase Agreement or (y) the Collection Agent shall make
payment of a Collection Agent Indemnification Amount in respect of such
Purchased Receivables in accordance with Section 5.2 of the Collection Agency
Agreement;

         (f) there shall have been filed against Goodyear, Dunlop or the Issuer
(i) a notice of federal tax lien from the Internal Revenue Service or (ii) a
notice of lien from the PBGC under Section 412(n) of the Code or Section 302(f)
of ERISA for a failure to make a required installment or other payment to a plan
to which either of such sections applies;

         (g) the Seller shall fail to maintain 100% ownership of the Issuer;

         (h) the long-term unsecured senior debt of the Seller shall be rated
below BB by S&P or below Ba2 by Moody's;

         (i) any Collection Agent Termination Event shall have been declared in
accordance with the Collection Agency Agreement;

         (j) the average Dilution Ratio for the three preceding Settlement
Periods exceeds 4.75%;

         (k) the average Default Ratio for the three preceding Settlement
Periods exceeds 1.75%;

         (l) the average Delinquency Ratio for the three preceding Settlement
Periods exceeds 7.25%;

         (m) the failure on the part of the Issuer to make any payment or
deposit required by the terms of the Base Indenture, this Indenture Supplement
or any other Transaction Document and such failure continues unremedied for two
Business Days;

         (n) any material provision of the Base Indenture, this Indenture
Supplement, the Collection Agency Agreement or the Receivables Purchase
Agreement shall cease, for any reason, to be in full force and effect or any of
the Seller, the Collection Agent or the Issuer shall so assert in writing;

         (o) the failure on the part of the Issuer to duly to observe or perform
in any material respect any covenants or agreements of the Issuer set forth in
the Base Indenture, this Indenture Supplement or any other Transaction Document
(other than those covered by clause (m) above) and such failure continues for
thirty days after the earlier to occur of (i) the date upon which the Issuer
obtains knowledge of such failure or (ii) the date on which written notice of
such failure, requiring the same to be remedied, shall have been given to the
Issuer by the

<PAGE>   42
                                       38

Indenture Trustee, or to the Issuer and the Indenture Trustee by the
Administrative Agent or any Purchaser;

         (p) any representation or warranty made by the Issuer in the Base
Indenture or this Indenture Supplement or any information required to be
delivered by the Issuer to the Indenture Trustee shall prove to have been
incorrect in any material respect when made or when delivered which failure, if
capable of being remedied, continues unremedied for 30 days after the earlier to
occur of (i) the date upon which the Issuer obtains knowledge thereof and (ii)
the date on which written notice of such failure, requiring the same to be
remedied, shall have been given to the Issuer by the Indenture Trustee or to the
Issuer and the Indenture Trustee by the Administrative Agent or any Purchaser;

         (q) the Seller shall enter into any corporate transaction or merger
whereby it is not the surviving entity and the unsecured senior long-term debt
of the surviving entity is rated less than BBB- by S&P or less than Baa3 by
Moody's on the effective date of such transaction or merger;

         (r) the Seller shall fail to pay any principal of Funded Debt of the
Seller which is then outstanding in a principal amount in excess of $25,000,000
at the scheduled maturity hereof, such failure shall continue after the
applicable grace period, if any, specified in the agreement or instrument
relating to such Funded Debt, and such Funded Debt is not paid within ten
Business Days after the earlier of (i) the day on which an Authorized Officer of
the Seller first obtains actual knowledge of such failure or (ii) written notice
of such failure shall have been given to the Seller by the holder or holders of
such Funded Debt; or Funded Debt of the Seller which is then outstanding in a
principal amount in excess of $25,000,000 shall become due and payable prior to
the scheduled maturity thereof as a result of the lawful acceleration thereof
due to the occurrence of an event of default thereunder and such Funded Debt is
not paid, or such acceleration thereof is not rescinded or annulled, within ten
Business Days following such lawful acceleration thereof;

         (s) one or more judgments or decrees shall be entered against the
Issuer involving in the aggregate a liability (not paid or fully covered by
insurance) of $25,000 or more and such judgments or decrees shall not have been
vacated, discharged, stayed or bonded pending appeal within 30 days from the
entry thereof; or

         (t) any Termination Event with respect to any other Series of
Outstanding Investor Notes shall have been deemed to have occurred or shall have
been declared to have occurred in accordance with the terms of the applicable
Indenture Supplement;

then, in the case of any event described in clause (e) or (f) or clauses (i)
through (t) above, after the applicable grace period, if any, the Indenture
Trustee shall, acting at the direction of the Series 2001-1 Required Investor
Noteholders, declare that a Termination Event has occurred with respect to the
Series 2001-1 Investor Notes. In the case of any event described in clause (h)
above, a Termination Event with respect to the Series 2001-1 Investor Notes will
be deemed to have occurred without notice or other action on the part of the
Indenture Trustee or the Series 2001-1 Investor Noteholders on the thirtieth day
after the occurrence of such event if the Series 2001-1 Required Investor
Noteholders shall not have waived the occurrence of such event prior

<PAGE>   43
                                       39

to such day. In the case of any event described in clauses (a) through (d) and
clause (g) above, a Termination Event with respect to the Series 2001-1 Investor
Notes will be deemed to have occurred without notice or other action on the part
of the Indenture Trustee or the Series 2001-1 Investor Noteholders.

                                   ARTICLE 5

                               OPTIONAL PREPAYMENT
                               -------------------

         The Issuer shall have the option to prepay all outstanding Series
2001-1 Investor Notes at any time by paying an amount equal to the Series 2001-1
Prepayment Amount. The Issuer shall give the Indenture Trustee and the
Administrative Agent at least ten Business Days' prior written notice of the
date on which the Issuer intends to exercise such option to prepay (the
"PREPAYMENT DATE"). Upon receipt of any notice of a Prepayment Date from the
Issuer, the Administrative Agent shall promptly notify the Funding Agent with
respect to each Purchaser thereof. Not later than 11:00 A.M., New York City
time, on such Prepayment Date, the Issuer shall deposit in the Collection
Account for allocation to the Series 2001-1 Collection Subaccount an amount
equal to the Series 2001-1 Prepayment Amount in immediately available funds. The
funds deposited into the Series 2001-1 Collection Subaccount will be paid by the
Indenture Trustee to the Administrative Agent, for the account of the Series
2001-1 Investor Noteholders, on such Prepayment Date. Upon the receipt of funds
from the Indenture Trustee on any Prepayment Date, the Administrative Agent
shall pay to each Funding Agent with respect to a Purchaser, the portion of the
Series 2001-1 Prepayment Amount owing to such Purchaser.

                                   ARTICLE 6

                              COLLECTION AGENT FEE
                              --------------------

         SECTION 6.1. COLLECTION AGENT FEE. A periodic collection agent fee (the
"Series 2001-1 Collection Agent Fee") shall be payable to the Collection Agent
on each Payment Date for the preceding Settlement Period in an amount equal to
the product of (a) the Collection Agent Fee Rate times (b) the daily average
Series 2001-1 Allocated Net Receivables Balance for such Settlement Period times
(c) the number of days in such Settlement Period divided by 365 (or 366, as
applicable) days. The Series 2001-1 Collection Agent Fee shall be payable to the
Collection Agent on each Payment Date pursuant to Section 5A.4.

                                   ARTICLE 7

                             CHANGE IN CIRCUMSTANCES

         SECTION 7.1. ILLEGALITY. Notwithstanding any other provision herein, if
any Change in Law shall make it unlawful for any Purchaser to make or maintain
any portion of the Purchaser Invested Amount with respect to such Purchaser
allocated to a Eurodollar Tranche and such Purchaser shall notify in writing the
Administrative Agent, the Funding Agent with respect to such Purchaser, the
Indenture Trustee and the Issuer, then the portion of such Purchaser Invested
Amount allocated to Eurodollar Tranches shall thereafter be calculated by
reference to the Alternate Base Rate. If any such change in the method of
calculating interest occurs on a day

<PAGE>   44
                                       40

which is not the last day of the Eurodollar Period with respect to any
Eurodollar Tranche, the Issuer shall pay to such Purchaser the amounts, if any,
as may be required pursuant to SECTION 7.4.

         SECTION 7.2. INCREASED COSTS.

         (a) If any Change in Law (except with respect to Taxes which shall be
governed by SECTION 7.3) shall:

                  (i) impose, modify or deem applicable any reserve, special
         deposit or similar requirement against assets of, deposits with or for
         the account of, or credit extended by, any Affected Party (except any
         such reserve requirement reflected in the Adjusted LIBO Rate); or

                  (ii) impose on any Affected Party or the London interbank
         market any other condition affecting the Transaction Documents or the
         funding of Eurodollar Tranches by such Affected Party;

and the result of any of the foregoing shall be to increase the cost to such
Affected Party of making, converting into, continuing or maintaining Eurodollar
Tranches (or maintaining its obligation to do so) or to reduce any amount
received or receivable by such Affected Party hereunder or in connection
herewith (whether principal, interest or otherwise), then the Issuer will pay to
such Affected Party such additional amount or amounts as will compensate such
Affected Party for such additional costs incurred or reduction suffered.

         (b) If any Affected Party reasonably determines that any Change in Law
regarding capital requirements has or would have the effect of reducing the rate
of return on such Affected Party's capital or the capital of any corporation
controlling such Affected Party as a consequence of its obligations hereunder to
a level below that which such Affected Party or such corporation could have
achieved but for such Change in Law (taking into consideration such Affected
Party's or such corporation's policies with respect to capital adequacy), then
from time to time, the Issuer shall pay to such Affected Party such additional
amount or amounts as will compensate such Affected Party for any such reduction
suffered.

         (c) A certificate of an Affected Party setting forth the amount or
amounts necessary to compensate such Affected Party as specified in subsections
(a) and (b) of this SECTION 7.2 shall be delivered to the Issuer (with a copy to
the Administrative Agent and the Funding Agent with respect to such Affected
Party) and shall be conclusive absent manifest error. The agreements in this
Section shall survive the termination of this Indenture Supplement and the Base
Indenture and the payment of all amounts payable hereunder and thereunder.

         (d) Failure or delay on the part of an Affected Party to demand
compensation pursuant to this SECTION 7.2 shall not constitute a waiver of such
Affected Party's right to demand such compensation; PROVIDED that the Issuer
shall not be required to compensate any Affected Party pursuant to this Section
7.2 for any increased costs or reductions incurred more than 30 days prior to
the date that such Affected Party notifies the Issuer of the Change in Law
giving rise to such increased costs or reductions and of such Affected Party's
intention to claim compensation therefor.

<PAGE>   45
                                       41

         SECTION 7.3. TAXES.

         (a) Any and all payments by or on account of any obligation of the
Issuer hereunder shall be made free and clear of and without deduction for any
Indemnified Taxes or Other Taxes; PROVIDED that if the Issuer shall be required
to deduct any Indemnified Taxes or Other Taxes from such payments, then (i)
subject to SECTION 7.3(c) below, the sum payable shall be increased as necessary
so that after making all required deductions (including deductions applicable to
additional sums payable under this SECTION 7.3) the recipient receives an amount
equal to the sum that it would have received had no such deductions been made,
(ii) the Issuer shall make such deductions and (iii) the Issuer shall pay the
full amount deducted to the relevant Governmental Authority in accordance with
applicable law.

         (b) In addition, the Issuer shall pay any Other Taxes to the relevant
Governmental Authority in accordance with applicable law.

         (c) The Issuer shall indemnify the Administrative Agent, each Funding
Agent, each Program Support Provider and each Purchaser within the later of 10
days after written demand therefor and the Payment Date next following such
demand for the full amount of any Indemnified Taxes or Other Taxes paid by the
Administrative Agent, such Funding Agent, such Program Support Provider or such
Purchaser on or with respect to any payment by or on account of any obligation
of the Issuer hereunder or under any other Transaction Document (including
Indemnified Taxes or Other Taxes imposed or asserted on or attributable to
amounts payable under this SECTION 7.3) and any penalties, interest and
reasonable expenses arising therefrom or with respect thereto, whether or not
such Indemnified Taxes or Other Taxes were correctly or legally imposed or
asserted by the relevant Governmental Authority; PROVIDED that no Person shall
be indemnified pursuant to this SECTION 7.3(c) or required to pay additional
amounts under the proviso of SECTION 7.3(a) to the extent that the reason for
such indemnification results from the failure by such Person to comply with the
provisions of SECTION 7.3(e) (g) or (h). A certificate as to the amount of such
payment or liability delivered to the Issuer by the Administrative Agent, any
Funding Agent, any Program Support Provider or any Purchaser shall be conclusive
absent manifest error. Any payments made by the Issuer pursuant to this SECTION
7.3 shall be made solely from funds available therefor pursuant to SECTION 5A.4
and from any other funds otherwise payable to the Issuer pursuant to the Base
Indenture or any Indenture Supplement, shall be non-recourse other than with
respect to such funds, and shall not constitute a claim against the Issuer to
the extent that insufficient funds exist to make such payment. The agreements in
this Section shall survive the termination of this Indenture Supplement and the
Base Indenture and the payment of all amounts payable hereunder and thereunder.

         (d) As soon as practicable after any payment of Indemnified Taxes or
Other Taxes by the Issuer to a Governmental Authority, the Issuer shall deliver
to the Administrative Agent the original or a certified copy of a receipt issued
by such Governmental Authority evidencing such payment, a copy of the return
reporting such payment or other evidence of such payment reasonably satisfactory
to the Administrative Agent.

         (e) The Administrative Agent, each Funding Agent, each Purchaser and
each Program Support Provider, if entitled to an exemption from or reduction of
an Indemnified Tax or Other Tax with respect to payments made under this
Indenture Supplement and the Base

<PAGE>   46
                                       42

Indenture shall (to the extent legally able to do so) deliver to the Issuer
(with a copy to the Administrative Agent) such properly completed and executed
documentation prescribed by applicable law and reasonably requested by the
Issuer on the later of (i) 20 Business Days after such request is made and the
applicable forms are provided to the Administrative Agent, such Funding Agent,
such Purchaser or such Program Support Provider or (ii) 20 Business Days before
prescribed by applicable law as will permit such payments to be made without
withholding or with an exemption from or reduction of Indemnified Taxes or Other
Taxes.

         (f) If the Administrative Agent, any Funding Agent, any Program Support
Provider or any Purchaser receives a refund solely in respect of Indemnified
Taxes or Other Taxes, it shall pay over such refund to the Issuer to the extent
that it has already received indemnity payments or additional amounts pursuant
to this SECTION 7.3 with respect to such Indemnified Taxes or Other Taxes giving
rise to the refund, net of all out-of-pocket expenses and without interest
(other than interest paid by the relevant Governmental Authority with respect to
such refund); PROVIDED, HOWEVER, that the Issuer shall, upon request of the
Administrative Agent, such Funding Agent, such Program Support Provider or such
Purchaser, repay such refund (plus interest or other charges imposed by the
relevant Governmental Authority) to the Administrative Agent, such Funding
Agent, such Program Support Provider or such Purchaser if the Administrative
Agent, such Funding Agent, such Program Support Provider or such Purchaser is
required to repay such refund to such Governmental Authority. Nothing contained
herein shall require the Administrative Agent, any Funding Agent, any Program
Support Provider or any Purchaser to make its tax returns (or any other
information relating to its taxes which it deems confidential) available to the
Issuer or any other Person.

         (g) If any Purchaser is an entity that is not incorporated or organized
under the laws of the United States of America or a state thereof or the
District of Columbia, such Purchaser shall:

                  (i) upon or prior to becoming a party to any Transaction
         Document, deliver to the Issuer and the Administrative Agent two duly
         completed copies of IRS Form W-8BEN or Form W-8ECI, or successor
         applicable forms, as the case may be;

                  (ii) deliver to the Issuer and the Administrative Agent two
         (2) further copies of any such form or certification on or before the
         date that any such form or certification expires or becomes obsolete
         and after the occurrence of any event requiring a change in the most
         recent form previously delivered by it to the Issuer; and

                  (iii) obtain such extensions of time for filing and completing
         such forms or certifications as may be reasonably be requested by the
         Issuer and the Administrative Agent;

unless, in any such case, any change in treaty, law or regulation has occurred
after the Series 2001-1 Closing Date (or, if later, the date such Purchaser
becomes a party to any Transaction Document) and prior to the date on which any
such delivery would otherwise be required which renders the relevant form
inapplicable or which would prevent such Purchaser from duly

<PAGE>   47
                                       43

completing and delivering the relevant form with respect to it, and such
Purchaser so advises the Issuer and the Administrative Agent.

         (h) If a beneficial or equity owner of a Purchaser (instead of the
Purchaser itself) is required under United States federal income tax law or the
terms of a relevant treaty to provide IRS Form W-8BEN or IRS Form W-8ECI or any
successor applicable forms, as the case may be, in order to claim an exemption
from withholding of United Stated federal income taxes or backup withholding
taxes, then each such beneficial owner or equity owner shall be considered to be
a Purchaser for purposes of SECTION 7.3 (g).

         SECTION 7.4. BREAK FUNDING PAYMENTS. The Issuer agrees to indemnify
each Purchaser and to hold each Purchaser harmless from any loss or expense
which such Purchaser may sustain or incur as a consequence of (a) default by the
Issuer in making a borrowing of, conversion into or continuation of a CP Tranche
or a Eurodollar Tranche after the Issuer has given irrevocable notice requesting
the same in accordance with the provisions of this Indenture Supplement, or (b)
default by the Issuer in making any prepayment in connection with a Decrease
after the Issuer has given irrevocable notice thereof in accordance with the
provisions of SECTION 2.5 or (c) the making of a prepayment of a CP Tranche or a
Eurodollar Tranche (including, without limitation, any Decrease) prior to the
termination of the CP Rate Period for such CP Tranche or the Eurodollar Period
for such Eurodollar Tranche, as the case may be. Such indemnification shall
include an amount determined by the Funding Agent with respect to such Purchaser
and shall equal either (x) the excess, if any, of (i) such Purchaser's cost of
funding the amount so prepaid or not so borrowed, converted or continued, for
the period from the date of such prepayment or of such failure to borrow,
convert or continue to the last day of the CP Rate Period or the Eurodollar
Period (or in the case of a failure to borrow, convert or continue, the CP Rate
Period or the Eurodollar Period that would have commenced on the date of such
prepayment or of such failure), as the case may be, over (ii) the amount of
interest earned by such Purchaser upon redeployment of an amount of funds equal
to the amount prepaid or not borrowed, converted or continued for a comparable
period or (y) if such Purchaser is able to terminate the funding source before
its scheduled maturity, any costs associated with such termination; provided
that any payments made by the Issuer pursuant to this subsection shall be made
solely from funds available therefor pursuant to SECTION 5A.4 and from any other
funds otherwise payable to the Issuer pursuant to the Base Indenture or any
Indenture Supplement, shall be non-recourse other than with respect to such
funds, and shall not constitute a claim against the Issuer to the extent that
such funds are insufficient to make such payment. This covenant shall survive
the termination of this Indenture Supplement and the Base Indenture and the
payment of all amounts payable hereunder and thereunder. A certificate as to any
additional amounts payable pursuant to the foregoing sentence submitted by any
Funding Agent on behalf of a Purchaser to the Issuer shall be conclusive absent
manifest error.

         SECTION 7.5. ALTERNATE RATE OF INTEREST. If prior to the commencement
of any Eurodollar Period:

         (a) the Administrative Agent determines (which determination shall be
conclusive absent manifest error) that adequate and reasonable means do not
exist for ascertaining the Adjusted LIBO Rate for such Eurodollar Period, or

<PAGE>   48
                                       44

         (b) the Administrative Agent is advised by any Purchaser that the
Adjusted LIBO Rate for such Eurodollar Period will not adequately and fairly
reflect the cost to such Purchaser of making or maintaining the Eurodollar
Tranches during such Eurodollar Period,

then the Administrative Agent shall promptly give telecopy or telephonic notice
thereof to the Issuer and the Indenture Trustee, whereupon until the
Administrative Agent notifies the Issuer and the Indenture Trustee that the
circumstances giving rise to such notice no longer exist, the Available APA Bank
Funding Amount with respect to any Purchaser (in the case of clause (a) above)
or with respect to such Purchaser (in the case of clause (b) above) shall not be
allocated to any Eurodollar Tranche.

         SECTION 7.6. MITIGATION OBLIGATIONS. If an Affected Party requests
compensation under SECTION 7.2, or if the Issuer is required to pay any
additional amount to any Purchaser or any Governmental Authority for the account
of any Purchaser pursuant to SECTION 7.3, then, upon written notice from the
Issuer, such Affected Party or Purchaser, as the case may be, shall use
commercially reasonable efforts to designate a different lending office for
funding or booking its obligations hereunder or to assign its rights and
obligations hereunder to another of its offices, branches or affiliates, which
pays a price for such assignment which is acceptable to such Purchaser and its
assignee, in the judgment of such Affected Party or Purchaser, if such
designation or assignment (i) would eliminate or reduce amounts payable pursuant
to SECTION 7.2 or 7.3, as the case may be, in the future and (ii) would not
subject such Affected Party or Purchaser to any unreimbursed cost or expense and
would not otherwise be disadvantageous to such Affected Party or Purchaser. The
Issuer hereby agrees to pay all reasonable costs and expenses incurred by such
Affected Party or Purchaser in connection with any such designation or
assignment.

                                   ARTICLE 8

                    REPRESENTATIONS AND WARRANTIES, COVENANTS
                    -----------------------------------------

         SECTION 8.1. REPRESENTATIONS AND WARRANTIES OF THE ISSUER AND GOODYEAR.
The Issuer and Goodyear each hereby represents and warrants to the Indenture
Trustee, the Administrative Agent, each Funding Agent and each Purchaser that:

         (a) each and every of their respective representations and warranties
contained in the Transaction Documents is true and correct as of the Series
2001-1 Closing Date and true and correct in all material respects as of the
Series 2001-1 Initial Funding Date and as of the date of each Increase;

         (b) each of the Series 2001-1 Investor Notes has been duly authorized
and executed by the Issuer and when duly authenticated by the Indenture Trustee
and delivered to the Series 2001-1 Investor Noteholders in accordance with the
terms of this Indenture Supplement will constitute legal, valid and binding
obligations of the Issuer enforceable in accordance with their terms, except as
enforceability thereof may be limited by bankruptcy, insolvency, or other
similar laws relating to or affecting generally the enforcement of creditors'
rights or by general equitable principles; and

<PAGE>   49
                                       45

         (c) as of the Series 2001-1 Closing Date, they have not engaged, in
connection with the offering of the Series 2001-1 Investor Notes, in any form of
general solicitation or general advertising within the meaning of Rule 502(c)
under the Securities Act.

         SECTION 8.2. COVENANTS OF THE ISSUER AND GOODYEAR. The Issuer and
Goodyear hereby agree, in addition to their obligations hereunder, that:

         (a) they shall observe in all material respects each and every of their
respective covenants (both affirmative and negative) contained in the Base
Indenture and all other Transaction Documents to which each is a party;

         (b) they shall afford each Funding Agent with respect to a Purchaser,
the Indenture Trustee or any representatives of any such Funding Agent or the
Indenture Trustee access to all records relating to the Receivables at any
reasonable time during regular business hours, upon reasonable prior notice (and
with one Business Day's prior notice if a Termination Event shall have been
deemed to have occurred or shall have been declared to have occurred), for
purposes of inspection and shall permit such Funding Agent, the Indenture
Trustee or any representative of such Funding Agent or the Indenture Trustee to
visit any of the Issuer's or Goodyear's, as the case may be, offices or
properties during regular business hours and as often as may reasonably be
desired to discuss the business, operations, properties, financial and other
conditions of the Issuer or Goodyear with their respective officers and
employees and, with reasonable prior notice to Goodyear, together with Goodyear,
with their independent certified public accountants;

         (c) they shall promptly provide such additional financial and other
information with respect to the Transaction Documents, the Issuer, Goodyear,
Dunlop or the Receivables as the Administrative Agent or any Funding Agent may
from time to time reasonably request; and

         (d) they shall not take any action, nor permit Dunlop to take any
action, requiring the satisfaction of the Rating Agency Condition pursuant to
any Transaction Document, other than the issuance of any series of Investor
Notes, without the prior written consent of the Series 2001-1 Required Investor
Noteholders.

         SECTION 8.3. COVENANTS OF THE COLLECTION AGENT. The Collection Agent
hereby agrees that:

         (a) it shall provide to the Indenture Trustee, the Administrative Agent
and each Funding Agent, on the second Business Day prior to each Payment Date, a
Monthly Settlement Statement, substantially in the form of EXHIBIT C, setting
forth as of the last day of the most recent Settlement Period and for such
Settlement Period the information set forth therein;

         (b) it shall provide to the Indenture Trustee, the Administrative Agent
and each Funding Agent, on each Weekly Reporting Date after the occurrence and
during the continuance of a Downgrade Event, a Weekly Report, substantially in
the form of EXHIBIT D, setting forth as of the last day of the most recent
calendar week and for such calendar week the information set forth therein;
PROVIDED, HOWEVER that the Weekly Reports delivered during the first 60 days
following the occurrence of the first Downgrade Event may contain a calculation
of

<PAGE>   50
                                       46

the Net Receivables Balance that uses the amounts contained in clause (ii) of
the definition thereof as of the last day of the most recent calendar month and
that recognizes Receivables as Delinquent Receivables or Defaulted Receivables
only if they were Delinquent Receivables or Defaulted Receivables, as the case
may be, as of the last day of the most recent calendar month; and

         (c) it shall provide to the Administrative Agent simultaneously with
delivery to the Indenture Trustee, all reports, notices, certificates,
statements and other documents required to be delivered to the Indenture Trustee
pursuant to the Base Indenture and the other Transaction Documents, and furnish
to the Administrative Agent promptly after receipt thereof a copy of each
notice, demand or other material communication (excluding routine
communications) received by or on behalf of the Issuer or the Collection Agent
with respect to the Transaction Documents. The Administrative Agent shall
distribute to the Funding Agents copies of all reports, notices, certificates,
statements and other documents delivered to it pursuant to this SECTION 8.3(b).

         SECTION 8.4. OBLIGATIONS UNAFFECTED. The obligations of the Issuer and
the Collection Agent to the Funding Agent and the Purchasers under this
Indenture Supplement shall not be affected by reason of any invalidity,
illegality or irregularity of any of the Receivables.

         SECTION 8.5. DESIGNATION OF ELIGIBLE SPECIAL OBLIGORS AND ADDITIONAL
ELIGIBILITY CRITERIA. The Issuer, the Collection Agent, the Indenture Trustee,
each of the CP Conduit Purchasers, each of the APA Banks, each of the Funding
Agents and the Administrative Agent hereby agree that:

         (a) TBC Corporation and Heafner Tire Group are hereby designated as
Eligible Special Obligors each with a Concentration Factor of 5%;

         (b) the Issuer, with the prior written consent of each Funding Agent,
may designate any other Obligor as an Eligible Special Obligor hereunder by
giving written notice of such designation and the applicable Concentration
Factor, together with evidence of the prior written consent of the Funding
Agents to such designation, to the Indenture Trustee and the Collection Agent;

         (c) TBC Corporation, Heafner Tire Group and any Obligor designated as
an Eligible Special Obligor in accordance with clause (b) of this Section 8.5
shall remain designated as an Eligible Special Obligor hereunder only until the
date no less than 30 days after the date of any written notice given by a
Funding Agent to the Issuer, the Collection Agent and the Indenture Trustee to
the effect that, based on such Funding Agent's reasonable credit judgment, such
Obligor shall no longer be designated as an Eligible Special Obligor hereunder;
and

         (d) any Funding Agent may request the Indenture Trustee in writing to
give the Issuer and the Collection Agent written notice of additional criteria
and requirements mandated by either of the Rating Agencies with respect to trade
receivable securitizations funded by multi-seller commercial paper conduits that
each Receivable will be required to satisfy to be considered an "Eligible
Receivable" after a date no less than 60 days after the date of such notice set
forth in such notice.

<PAGE>   51
                                       47

                                   ARTICLE 9

                              CONDITIONS PRECEDENT
                              --------------------

         SECTION 9.1. CONDITIONS PRECEDENT TO EFFECTIVENESS OF INDENTURE
SUPPLEMENT. This Indenture Supplement shall become effective on the date (the
"Effective Date") on which the following conditions precedent have been
satisfied:

         (a) DOCUMENTS. The Administrative Agent shall have received an original
copy for each CP Conduit Purchaser and the Funding Agent and the APA Bank with
respect to such CP Conduit Purchaser, each executed and delivered in form and
substance satisfactory to it of (i) the Base Indenture, executed by a duly
authorized officer of each of the Issuer and the Indenture Trustee, (ii) the
Dunlop Receivables Purchase Agreement, executed by a duly authorized officer of
each of Dunlop and the Seller, (iii) the Receivables Purchase Agreement,
executed by a duly authorized officer of each of the Seller and the Issuer, (iv)
this Indenture Supplement, executed by a duly authorized officer of each of the
Issuer, the Collection Agent, the Indenture Trustee, the Administrative Agent,
the Funding Agents, the CP Conduit Purchasers and the APA Banks and (v) the
Collection Agency Agreement, executed by a duly authorized officer of each of
the Issuer, the Collection Agent and the Indenture Trustee.

         (b) CORPORATE DOCUMENTS; PROCEEDINGS OF THE ISSUER, DUNLOP AND
GOODYEAR. The Administrative Agent shall have received, with a copy for each CP
Conduit Purchaser and the Funding Agent and the APA Bank with respect to such CP
Conduit Purchaser, from the Issuer, Goodyear and Dunlop true and complete copies
of:

                  (i) to the extent applicable, the articles of incorporation or
         certificate of formation, including all amendments thereto, of such
         Person, certified as of a recent date by the Secretary of State or
         other appropriate authority of the state of incorporation or
         organization, as the case may be, and a certificate of compliance, of
         status or of good standing, as and to the extent applicable, of each
         such Person as of a recent date, from the Secretary of State or other
         appropriate authority of such jurisdiction;

                  (ii) a certificate of the Secretary or an Assistant Secretary
         of each of the Issuer, Goodyear and Dunlop, dated the Effective Date
         and certifying (A) in the case of Dunlop, that attached thereto is a
         true and complete copy of the limited liability company agreement of
         Dunlop, as in effect on the Effective Date and at all times since a
         date prior to the date of the resolutions described in clause (B)
         below, (B) that attached thereto is a true and complete copy of the
         resolutions, in form and substance reasonably satisfactory to the
         Funding Agent, of the Board of Directors of such Person or committees
         thereof authorizing the execution, delivery and performance of the
         Transaction Documents to which it is a party and the transactions
         contemplated thereby, and that such resolutions have not been amended,
         modified, revoked or rescinded and are in full force and effect, (C)
         that the certificate of incorporation or certificate of formation of
         such Person has not been amended since the date of the last amendment
         thereto shown on the certificate of good standing (or its equivalent)
         furnished pursuant to clause (i)

<PAGE>   52
                                       48

         above and (D) as to the incumbency and specimen signature of each
         officer or authorized signatory executing any Transaction Documents or
         any other document delivered in connection herewith or therewith on
         behalf of such Person;

                  (iii) a certificate of another officer as to the incumbency
         and specimen signature of the Secretary or Assistant Secretary
         executing the certificate pursuant to clause (ii) above.

         (c) GOOD STANDING CERTIFICATES. The Administrative Agent shall have
received copies of certificates of compliance, of status or of good standing,
dated as of a recent date, from the Secretary of State or other appropriate
authority of such jurisdiction, with respect to the Issuer, Goodyear and Dunlop
in each State where the ownership, lease or operation of property or the conduct
of business requires it to qualify as a foreign corporation, except where the
failure to so qualify would not have a material adverse effect on the business,
operations, properties or condition (financial or otherwise) of the Issuer,
Goodyear or Dunlop, as the case may be.

         (d) CONSENTS, LICENSES, APPROVALS, ETC. The Administrative Agent shall
have received, with a counterpart for each CP Conduit Purchaser and the Funding
Agent and the APA Bank with respect to such CP Conduit Purchaser, certificates
dated the date hereof of an Authorized Officer of the Issuer, Goodyear and
Dunlop stating either (i) that all material consents, licenses and approvals
required in connection with the execution, delivery and performance by the
Issuer, Goodyear and Dunlop of the Transaction Documents to which it is a party
and the validity and enforceability of the Transaction Documents to which it is
a party against the Issuer, Goodyear and Dunlop, respectively are in full force
and effect or (ii) that no such consents, licenses or approvals are so required.

         (e) NO LITIGATION. The Administrative Agent shall have received
confirmation that, except as set forth on Schedule II, as to which no
representation or warranty is made, there is no pending or, to their knowledge
after due inquiry, threatened action or proceeding affecting the Issuer,
Goodyear or Dunlop or any Subsidiaries of Goodyear before any Governmental
Authority that could reasonably be expected to have a Material Adverse Effect.

         (f) LIEN SEARCHES. The Administrative Agent shall have received a
written search report listing all effective financing statements that name the
Issuer, Goodyear or Dunlop as debtor or assignor and that are filed in the
jurisdictions in which filings were made pursuant to paragraph (h) below and in
any other jurisdictions that the Administrative Agent determines are necessary
or appropriate, together with copies of such financing statements (none of
which, except for those described in paragraph (h) below shall cover any portion
of the Collateral), and tax and judgment lien searches showing no such liens
that are not permitted by the Transaction Documents.

         (g) UCC CERTIFICATE. The Administrative Agent shall have received from
each of the Issuer, Goodyear and Dunlop a certificate, substantially in the form
of EXHIBIT E completed in a manner satisfactory to the Administrative Agent,
duly executed by an Authorized Officer of each of the Issuer, Goodyear and
Dunlop and dated the Series 2001-1 Closing Date.

<PAGE>   53
                                       49

         (h) FILINGS, REGISTRATIONS AND RECORDINGS. Any documents (including,
without limitation, financing statements) required to be filed in order (i) to
create, in favor of the Indenture Trustee, a perfected security interest in the
Collateral with respect to which a security interest may be perfected by a
filing under the UCC or other comparable statute, (ii) to create in favor of the
Issuer a perfected ownership/security interest in the Receivables and the
Related Property with respect thereto and the Seller's rights under the Dunlop
Receivables Purchase Agreement under the Receivables Purchase Agreement with
respect to which an ownership/security interest may be perfected by filing under
the UCC or other comparable statute and (iii) to create in favor of the Seller a
perfected ownership/security interest in the Dunlop Receivables and the Related
Property with respect thereto under the Dunlop Receivables Purchase Agreement
with respect to which a ownership/security interest may be perfected by filing
under the UCC or other comparable statute, shall, in each case, have been
properly prepared and executed for immediate filing in each office in each
jurisdiction listed in the UCC Certificate referred to in paragraph (g) above,
and such filings are the only filings required in order to perfect the security
interest of the Indenture Trustee in the Collateral, the transfer of the
Receivables and the Related Property with respect thereto to the Issuer pursuant
to the Receivables Purchase Agreement and the transfer of the Dunlop Receivables
and the Related Property with respect thereto to the Seller pursuant to the
Dunlop Receivables Purchase Agreement, as the case may be. The Administrative
Agent shall have received evidence reasonably satisfactory to it of each such
filing, registration or recordation and reasonably satisfactory evidence of the
payment of any necessary fee, tax or expense relating thereto.

         (i) TERMINATION STATEMENTS. The Administrative Agent shall have
received executed copies of proper termination statements (Form UCC-3), if any,
necessary to release all security interests and other rights of any Person in
the Receivables and the Related Property previously granted by Goodyear or
Dunlop.

         (j) LOCK-BOX AGREEMENTS. The Administrative Agent shall have received
executed copies of the Lock-Box Agreements relating to each of the Lock-Box
Banks and the Lock-Box Accounts.

         (k) LEGAL OPINIONS. The Administrative Agent shall have received, with
a counterpart addressed to each CP Conduit Purchaser and the Funding Agent, the
Program Support Provider and the APA Bank with respect to such CP Conduit
Purchaser and the Indenture Trustee, opinions of counsel to the Issuer, Goodyear
and Dunlop, dated the Series 2001-1 Closing Date addressing due organization of
the Issuer, Goodyear and Dunlop, the due authorization, execution and delivery
of the Transaction Documents, the enforceability of the Transaction Documents,
the "true sale" of the Dunlop Receivables and the Related Property with respect
thereto by Dunlop to the Seller, the "true sale" of the Receivables and the
Related Property with respect thereto by the Seller to the Issuer, the
"non-substantive consolidation" of the Issuer with Goodyear or any Affiliate of
Goodyear, the creation, perfection and priority of security interests in the
Collateral, the creation, perfection and priority of the ownership/security
interests in the Seller's interests in the Receivables and the Related Property
with respect thereto under the Receivables Purchase Agreement, creation,
perfection and priority of the ownership/security interests in Dunlop's
interests in the Dunlop Receivables and the Related Property with respect
thereto under the Dunlop Receivables Purchase Agreement and other

<PAGE>   54
                                       50

matters, in each case, in form and substance reasonably acceptable to the
addressees thereof and their counsel.

         (l) INDENTURE TRUSTEE'S COUNSEL OPINION. The Administrative Agent shall
have received an opinion of counsel to the Indenture Trustee , with a
counterpart addressed to each CP Conduit Purchaser and the Funding Agent, the
Program Support Provider and the APA Bank with respect to such CP Conduit
Purchaser, as to the due authorization, execution and delivery by the Indenture
Trustee of the Base Indenture and this Indenture Supplement and the due
authentication and delivery by the Indenture Trustee of the Series 2001-1
Investor Notes.

         (m) FEES AND EXPENSES. Each Funding Agent with respect to a CP Conduit
Purchaser shall have received payment of all fees, out-of-pocket expenses and
other amounts due and payable to such CP Conduit Purchaser or the APA Bank with
respect to such CP Conduit Purchaser on or before the Effective Date.

         (n) ESTABLISHMENT OF ACCOUNTS. The Administrative Agent shall have
received evidence reasonably satisfactory to it that the Collection Account
(including the Series 2001-1 Subaccounts) shall have been established in
accordance with the terms and provisions of the Indenture.

         (o) MATERIAL ADVERSE CHANGE. No material adverse change shall have
occurred with respect to the business, operations, property or condition
(financial or otherwise) of Goodyear and its Subsidiaries taken as a whole since
December 31, 2000.

         (p) NO POTENTIAL TERMINATION EVENT OR TERMINATION EVENT. The
Administrative Agent shall have received a certificate of an Authorized Officer
of the Collection Agent dated the Effective Date to the effect that no Potential
Termination Event or Termination Event has occurred and is continuing.

         (q) RATINGS CONFIRMATIONS. The Funding Agent with respect to each CP
Conduit Purchaser shall have received written confirmation, to the extent
required, from each of S&P and Moody's that the execution, delivery and
performance by such CP Conduit Purchaser of its obligations hereunder will not
result in a downgrade or withdrawal of such rating agency's current rating on
the Commercial Paper issued by or on behalf of such CP Conduit Purchaser.

         (r) CONSENT TO SERVICE OF PROCESS. The Administrative Agent shall have
received an instrument confirming acceptance of the appointment by the Issuer of
CT Corporation located at 111 Eighth Avenue, New York, New York 10011 as the
authorized agent upon whom process may be served in any action arising out of or
based upon this Indenture Supplement or any other Transaction Document to which
the Issuer is a party that may be instituted in the United States District Court
for the Southern District of New York.

         (s) PROCEEDINGS. All corporate and other proceedings and all other
documents and legal matters in connection with the transactions contemplated by
the Transaction Documents shall be satisfactory in form and substance to the
Administrative Agent and its counsel.

<PAGE>   55
                                       51

         (t) SPARC MEMBERSHIP. The Issuer shall have executed and delivered to
Canadian Imperial Bank of Commerce, as Funding Agent, a membership agreement
for, and become a member of, Special Purpose Accounts Receivables Cooperative
Corporation.

                                   ARTICLE 10

                            THE ADMINISTRATIVE AGENT
                            ------------------------

         SECTION 10.1. APPOINTMENT. Each of the CP Conduit Purchasers, the APA
Banks and the Funding Agents hereby irrevocably designates and appoints the
Administrative Agent as the agent of such Person under this Indenture Supplement
and irrevocably authorizes the Administrative Agent, in such capacity, to take
such action on its behalf under the provisions of this Indenture Supplement and
to exercise such powers and perform such duties as are expressly delegated to
the Administrative Agent by the terms of this Indenture Supplement, together
with such other powers as are reasonably incidental thereto. Notwithstanding any
provision to the contrary elsewhere in this Indenture Supplement, the
Administrative Agent shall not have any duties or responsibilities except those
expressly set forth herein, or any fiduciary relationship with any CP Conduit
Purchaser, any APA Bank or any Funding Agent, and no implied covenants,
functions, responsibilities, duties, obligations or liabilities shall be read
into this Indenture Supplement or otherwise exist against the Administrative
Agent. In performing its functions and duties hereunder, the Administrative
Agent shall act solely as the agent of the CP Conduit Purchasers, the APA Banks
and the Funding Agents, and the Administrative Agent does not assume, nor shall
be deemed to have assumed, any obligation or relationship of trust or agency
with or for any such Person.

         SECTION 10.2. DELEGATION OF DUTIES. The Administrative Agent may
execute any of its duties under this Indenture Supplement by or through agents
or attorneys-in-fact and shall be entitled to advice of counsel (who may be
counsel for the Issuer or the Collection Agent), independent public accountants
and other experts selected by it concerning all matters pertaining to such
duties. The Administrative Agent shall not be responsible for the negligence or
misconduct of any agents or attorneys-in-fact selected by it with reasonable
care.

         SECTION 10.3. EXCULPATORY PROVISIONS. Neither the Administrative Agent
nor any of its officers, directors, employees, agents, attorneys-in-fact or
Affiliates shall be (i) liable for any action lawfully taken or omitted to be
taken by it or such Person under or in connection with the Base Indenture or
this Indenture Supplement (x) with the consent or at the request of the
Purchasers or (y) in the absence of its own gross negligence or willful
misconduct or (ii) responsible in any manner to any of the CP Conduit
Purchasers, the APA Banks or the Funding Agents for any recitals, statements,
representations or warranties made by the Issuer, the Collection Agent or any
officer thereof contained in this Indenture Supplement or any other Transaction
Document or in any certificate, report, statement or other document referred to
or provided for in, or received by the Administrative Agent under or in
connection with, this Indenture Supplement or any other Transaction Document or
for the value, validity, effectiveness, genuineness, enforceability or
sufficiency of this Indenture Supplement, any other Transaction Document or the
Receivables or for any failure of any of the Issuer, the Collection Agent, the
Seller or Dunlop to perform its obligations hereunder or thereunder. The
Administrative Agent shall not be under any obligation to any CP Conduit
Purchaser, any APA

<PAGE>   56
                                       52

Bank or any Funding Agent to ascertain or to inquire as to the observance or
performance of any of the agreements contained in, or conditions of, this
Indenture Supplement, any other Transaction Document or the Receivables or to
inspect the properties, books or records of the Issuer, the Collection Agent,
the Seller or Dunlop.

         SECTION 10.4. RELIANCE BY ADMINISTRATIVE AGENT. The Administrative
Agent shall be entitled to rely, and shall be fully protected in relying, upon
any writing, resolution, notice, consent, certificate, affidavit, letter,
telecopy, telex or teletype message, statement, order or other document or
conversation believed by it to be genuine and correct and to have been signed,
sent or made by the proper Person or Persons and upon advice and statements of
legal counsel (including, without limitation, counsel to the Issuer or the
Collection Agent), independent accountants and other experts selected by the
Administrative Agent and shall not be liable for any action taken or omitted to
be taken by it in good faith in accordance with the advice of such counsel,
accountants or experts. The Administrative Agent may deem and treat the
registered holder of any Series 2001-1 Investor Note as the owner thereof for
all purposes unless a written notice of assignment, negotiation or transfer
thereof shall have been filed with the Administrative Agent. The Administrative
Agent shall be fully justified in failing or refusing to take any action under
this Indenture Supplement or any other Transaction Document unless it shall
first receive such advice or concurrence of the Funding Agents, on behalf of the
Purchasers, as it deems appropriate or it shall first be indemnified to its
satisfaction by the Funding Agents against any and all liability and expense
which may be incurred by it by reason of taking or continuing to take any such
action. The Administrative Agent shall in all cases be fully protected in
acting, or in refraining from acting, under this Indenture Supplement and the
other Transaction Documents in accordance with a request of the Series 2001-1
Required Investor Noteholders (unless, in the case of any action relating to the
giving of consent hereunder, the giving of such consent requires the consent of
all Series 2001-1 Investor Noteholders), and such request and any action taken
or failure to act pursuant thereto shall be binding upon all the CP Conduit
Purchasers, the APA Banks and the Funding Agents.

         SECTION 10.5. NOTICE OF COLLECTION AGENT TERMINATION EVENT OR
TERMINATION EVENT OR POTENTIAL TERMINATION EVENT. The Administrative Agent shall
not be deemed to have knowledge or notice of the occurrence of any Termination
Event or Potential Termination Event, any Event of Default or Default, any
Purchase Termination Event, any Potential Purchase Termination Event, any
Collection Agent Termination Event or any Potential Collection Agent Termination
Event unless the Administrative Agent has received notice from a CP Conduit
Purchaser, an APA Bank, a Funding Agent, the Issuer, the Collection Agent, the
Seller or Dunlop referring to this Indenture Supplement, describing such
Termination Event or Potential Termination Event, Event of Default or Default,
Purchase Termination Event or Potential Purchase Termination Event or Collection
Agent Termination Event or Potential Collection Agent Termination Event and
stating that such notice is a "notice of a Termination Event or Potential
Termination Event," "notice of an Event of Default or Default," "notice of a
Purchase Termination Event or Potential Purchase Termination Event" or "notice
of a Collection Agent Termination Event or Potential Collection Agent
Termination Event", as the case may be. In the event that the Administrative
Agent receives such a notice, the Administrative Agent shall give notice thereof
to the Funding Agents, the Indenture Trustee, the Issuer and the Collection
Agent. The Administrative Agent shall take such action with respect to such
event as shall be reasonably directed by the Series 2001-1 Required Investor
Noteholders, PROVIDED that unless and until the

<PAGE>   57
                                       53

Administrative Agent shall have received such directions, the Administrative
Agent may (but shall not be obligated to) take such action, or refrain from
taking such action, with respect to such event as it shall deem advisable in the
best interests of the Purchasers.

         SECTION 10.6. NON-RELIANCE ON THE ADMINISTRATIVE AGENT AND OTHER
PURCHASERS. Each of the CP Conduit Purchasers, the APA Banks and the Funding
Agents expressly acknowledges that neither the Administrative Agent nor any of
its officers, directors, employees, agents, attorneys-in-fact or Affiliates has
made any representations or warranties to it and that no act by the
Administrative Agent hereinafter taken, including any review of the affairs of
the Issuer, shall be deemed to constitute any representation or warranty by the
Administrative Agent to any such Person. Each of the CP Conduit Purchasers, the
APA Banks and the Funding Agents represents to the Administrative Agent that it
has, independently and without reliance upon the Administrative Agent or any
other CP Conduit Purchaser, APA Bank or Funding Agent and based on such
documents and information as it has deemed appropriate, made its own appraisal
of and investigation into the business, operations, property, financial and
other condition and creditworthiness of the Issuer, the Collection Agent, the
Seller and Dunlop and made its own decision to enter into this Indenture
Supplement. Each of the CP Conduit Purchasers, the APA Banks and the Funding
Agents also represents that it will, independently and without reliance upon the
Administrative Agent or any other CP Conduit Purchaser, APA Bank or Funding
Agent, and based on such documents and information as it shall deem appropriate
at the time, continue to make its own credit analysis, appraisals and decisions
in taking or not taking action under this Indenture Supplement and the other
Transaction Documents, and to make such investigation as it deems necessary to
inform itself as to the business, operations, property, financial and other
condition and creditworthiness of the Issuer, the Collection Agent, the Seller
and Dunlop. Except for notices, reports and other documents expressly required
to be furnished to the Funding Agents by the Administrative Agent hereunder, the
Administrative Agent shall have no duty or responsibility to provide any CP
Conduit Purchaser, any APA Bank or any Funding Agent with any credit or other
information concerning the business, operations, property, condition (financial
or otherwise), prospects or creditworthiness of the Issuer, the Collection
Agent, the Seller or Dunlop which may come into the possession of the
Administrative Agent or any of its officers, directors, employees, agents,
attorneys-in-fact or Affiliates.

         SECTION 10.7. INDEMNIFICATION. Each of the APA Banks and the Funding
Agents agrees to indemnify the Administrative Agent in its capacity as such (to
the extent not reimbursed by the Issuer and the Collection Agent and without
limiting the obligation of the Issuer and the Collection Agent to do so), from
and against any and all liabilities, obligations, losses, damages, penalties,
actions, judgments, suits, costs, expenses or disbursements of any kind
whatsoever which may at any time be imposed on, incurred by or asserted against
the Administrative Agent in any way relating to or arising out of this Indenture
Supplement, any of the other Transaction Documents or any documents contemplated
by or referred to herein or therein or the transactions contemplated hereby or
thereby or any action taken or omitted by the Administrative Agent under or in
connection with any of the foregoing; PROVIDED that no APA Bank or Funding Agent
shall be liable for the payment of any portion of such liabilities, obligations,
losses, damages, penalties, actions, judgments, suits, costs, expenses or
disbursements resulting solely from the Administrative Agent's gross negligence
or willful

<PAGE>   58
                                       54

misconduct. The agreements in this Section shall survive the payment of all
amounts payable hereunder.

         SECTION 10.8. THE ADMINISTRATIVE AGENT IN ITS INDIVIDUAL CAPACITY. The
Administrative Agent and its Affiliates may make loans to, accept deposits from
and generally engage in any kind of business with the Issuer, the Collection
Agent or any of their Affiliates as though the Administrative Agent were not the
Administrative Agent hereunder. With respect to any Series 2001-1 Investor Note
held by the Administrative Agent, the Administrative Agent shall have the same
rights and powers under this Indenture Supplement and the other Transaction
Documents as any Purchaser and may exercise the same as though it were not the
Administrative Agent, and the terms "APA Bank," and "Purchaser" shall include
the Administrative Agent in its individual capacity.

         SECTION 10.9. RESIGNATION OF ADMINISTRATIVE AGENT; SUCCESSOR
ADMINISTRATIVE AGENT. The Administrative Agent may resign as Administrative
Agent at any time by giving 30 days' notice to the Funding Agents, the Indenture
Trustee, the Issuer and the Collection Agent. The Administrative Agent may be
removed at any time by a resolution of the Series 2001-1 Required Investor
Noteholders, removing the Administrative Agent and appointing from among the
Funding Agents a successor administrative agent, which successor administrative
agent shall be approved by the Issuer and the Collection Agent (which approval
shall not be unreasonably withheld), delivered to the Administrative Agent, the
Indenture Trustee and the Collection Agent. If Chase shall resign as
Administrative Agent under this Indenture Supplement, then the Series 2001-1
Required Investor Noteholders shall promptly appoint a successor administrative
agent from among the Funding Agents, which successor administrative agent shall
be approved by the Issuer and the Collection Agent (which approval shall not be
unreasonably withheld). If no successor administrative agent is appointed prior
to the effective date of the resignation of the Administrative Agent, the
Administrative Agent may appoint, after consulting with the Funding Agents, the
Issuer and the Collection Agent, a successor agent from among the Funding
Agents. If no successor administrative agent has accepted appointment as
Administrative Agent by the date which is 30 days following a retiring
Administrative Agent's notice of resignation, the retiring Administrative
Agent's resignation shall nevertheless thereupon become effective and the
Collection Agent shall assume and perform all of the duties of the
Administrative Agent hereunder until such time, if any, as the Series 2001-1
Required Investor Noteholders appoint a successor agent as provided for above.
Effective upon the appointment of a successor administrative agent, such
successor administrative agent shall succeed to the rights, powers and duties of
the Administrative Agent, and the term "Administrative Agent" shall mean such
successor administrative agent effective upon such appointment and approval, and
the former Administrative Agent's rights, powers and duties as Administrative
Agent shall be terminated, without any other or further act or deed on the part
of such former Administrative Agent or any of the parties to this Indenture
Supplement. After any retiring Administrative Agent's resignation as
Administrative Agent, the provisions of this Article 10 shall inure to its
benefit as to any actions taken or omitted to be taken by it while it was
Administrative Agent under this Indenture Supplement.

<PAGE>   59
                                       55

                                   ARTICLE 11

                                  MISCELLANEOUS
                                  -------------

         SECTION 11.1. RATIFICATION OF INDENTURE. As Indenture Supplemented by
this Indenture Supplement, the Indenture is in all respects ratified and
confirmed and the Indenture as so Indenture Supplemented by this Indenture
Supplement shall be read, taken and construed as one and the same instrument.

         SECTION 11.2. GOVERNING LAW. THIS INDENTURE SUPPLEMENT SHALL BE
GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW
YORK, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE
DETERMINED IN ACCORDANCE WITH SUCH LAWS.

         SECTION 11.3. FURTHER ASSURANCES. Each of the Issuer, the Collection
Agent and the Indenture Trustee agrees, from time to time, to do and perform any
and all acts and to execute any and all further instruments required or
reasonably requested by the Administrative Agent more fully to effect the
purposes of this Indenture Supplement and the sale of the Series 2001-1 Investor
Notes hereunder, including, without limitation, in the case of the Issuer and
the Collection Agent, the execution of any financing or registration statements
or similar documents or notices or continuation statements relating to the
Collateral for filing or registration under the provisions of the UCC or similar
legislation of any applicable jurisdiction.

         SECTION 11.4. PAYMENTS. Each payment to be made hereunder shall be made
on the required payment date in lawful money of the United States and in
immediately available funds, if to a Purchaser, at the office of the Funding
Agent with respect to such Purchaser set forth in SECTION 11.9.

         SECTION 11.5. COSTS AND EXPENSES. The Collection Agent agrees to pay on
demand all reasonable out-of-pocket costs and expenses of the Administrative
Agent (including, without limitation, reasonable fees and disbursements of
counsel to the Administrative Agent) and of each Purchaser (including in
connection with the preparation, execution and delivery of this Indenture
Supplement the reasonable fees and disbursements of one counsel for all such
Purchasers) in connection with (i) the preparation, execution, delivery and
administration (including periodic auditing and any requested amendments,
waivers or consents) of this Indenture Supplement, the Indenture and the other
Transaction Documents and amendments or waivers of any such documents and (ii)
the enforcement by the Administrative Agent or any Funding Agent of the
obligations and liabilities of the Issuer, the Collection Agent, the Seller and
Dunlop under the Indenture, this Indenture Supplement, the other Transaction
Documents or any related document and all costs and expenses, if any (including
reasonable counsel fees and expenses), in connection with the enforcement of
this Agreement and the other Transaction Documents.

         SECTION 11.6. NO WAIVER; CUMULATIVE REMEDIES. No failure to exercise
and no delay in exercising, on the part of the Indenture Trustee, the
Administrative Agent, any Funding Agent, any CP Conduit Purchaser or any APA
Bank, any right, remedy, power or

<PAGE>   60
                                       56

privilege hereunder shall operate as a waiver thereof; nor shall any single or
partial exercise of any right, remedy, power or privilege hereunder preclude any
other or further exercise thereof or the exercise of any other right, remedy,
power or privilege. The rights, remedies, powers and privileges herein provided
are cumulative and not exhaustive of any rights, remedies, powers and privileges
provided by law.

         SECTION 11.7. AMENDMENTS. (a) This Indenture Supplement may be amended
in writing from time to time by the Collection Agent, the Issuer and the
Indenture Trustee, with the consent of the Series 2001-1 Required Investor
Noteholders; provided that, notwithstanding the foregoing, without the consent
of each CP Conduit Purchaser and each APA Bank, no such amendment shall:

                  (i) reduce the percentage of Series 2001-1 Investor
         Noteholders whose consent is required to take any particular action
         hereunder;

                  (ii) (A) extend the due date for, or reduce the amount of any
         scheduled repayment or prepayment of principal of or interest on any
         Series 2001-1 Investor Note (or reduce the principal amount of or rate
         of interest on any Series 2001-1 Investor Note); (B) extend the due
         date for, or reduce the amount of ,any fees or other amounts payable
         hereunder; (C) change the calculation of any Increased Costs or other
         amounts payable by the Issuer to the CP Conduit Purchasers or APA Banks
         hereunder; (D) modify SECTION 5A.4; (E) approve the assignment or
         transfer by the Issuer of any of its rights or obligations hereunder or
         under any other Transaction Document to which it is a party except
         pursuant to the express terms hereof or thereof; (F) release any
         obligor under any Transaction Document to which it is a party except
         pursuant to the express terms of such Transaction Document; (G) amend
         or otherwise modify any Termination Event or any defined term referred
         to therein; (H) amend or otherwise modify the Series 2001-1 Required
         Receivables Balance, the Series 2001-1 Required Reserves or any defined
         term referred to therein or (I) permit the creation of any lien ranking
         prior to or on a parity with the Indenture Trustee's lien on the
         Collateral, release such lien except pursuant to the express terms
         hereof or deprive any Series 2001-1 Investor Noteholder of the security
         afforded by such lien;

                  (iii) modify SECTION 11.7(a); and

                  (iv) modify the allocations and priorities of payments set
         forth in Article 3 of this Indenture Supplement.

         (b) Any amendment hereof can be effected without the Administrative
Agent's being party thereto; PROVIDED, HOWEVER, that no such amendment,
modification or waiver of this Indenture Supplement that affects rights or
duties of the Administrative Agent shall be effective unless the Administrative
Agent shall have given its prior written consent thereto.

         (c) Promptly after the execution of any amendment of this Indenture
Supplement or any other Transaction Document, the Collection Agent shall mail to
each of the Funding Agents and each Rating Agency a copy thereof.

<PAGE>   61
                                       57

         SECTION 11.8. SEVERABILITY. If any provision hereof is void or
unenforceable in any jurisdiction, such voidness or unenforceability shall not
affect the validity or enforceability of (i) such provision in any other
jurisdiction or (ii) any other provision hereof in such or any other
jurisdiction.

         SECTION 11.9. NOTICES. All notices, requests, instructions and demands
to or upon any party hereto to be effective shall be given (i) in the case of
the Issuer, the Collection Agent and the Indenture Trustee, in the manner set
forth in SECTION 13.4 of the Base Indenture and (ii) in the case of the
Administrative Agent, the CP Conduit Purchasers, the APA Banks and the Funding
Agents, in writing, and, unless otherwise expressly provided herein, shall be
deemed to have been duly given or made when delivered by hand or three days
after being deposited in the mail, postage prepaid, in the case of facsimile
notice, when received, or in the case of overnight air courier, one Business Day
after the date such notice is delivered to such overnight courier, addressed as
follows in the case of the Administrative Agent and to the addresses therefor
set forth in Schedule I, in the case of the CP Conduit Purchasers, the APA Banks
and the Funding Agents; or to such other address as may be hereafter notified by
the respective parties hereto:

                  Administrative
                  Agent:                    The Chase Manhattan Bank
                                            450 West 33rd Street
                                            New York, New York  10001
                                            Attention:
                                            Fax:  212-946-7776

         SECTION 11.10. SUCCESSORS AND ASSIGNS. (a) This Indenture Supplement
shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns, except that the Issuer may not assign or
transfer any of its rights under this Indenture Supplement without the prior
written consent of all of the Series 2001-1 Investor Noteholders, no CP Conduit
Purchaser may assign or transfer any of its rights under this Indenture
Supplement other than in accordance with the Asset Purchase Agreement with
respect to such CP Conduit Purchaser or otherwise to the APA Banks with respect
to such CP Conduit Purchaser or a Program Support Provider with respect to such
CP Conduit Purchaser or pursuant to clause (b) or (e) below of this SECTION
11.10 and no APA Bank may assign or transfer any of its rights or obligations
under this Indenture Supplement except to a Program Support Provider or pursuant
to clause (c), (d) or (e) below of this SECTION 11.10.

         (b) Without limiting the foregoing, each CP Conduit Purchaser may, from
time to time with prior or concurrent notice to the Issuer and the
Administrative Agent assign the Purchaser Invested Amount with respect to such
CP Conduit Purchaser and its rights and obligations under this Indenture
Supplement and any other Transaction Documents to which it is a party to a
Conduit Assignee with respect to such CP Conduit Purchaser. Upon such assignment
by a CP Conduit Purchaser to a Conduit Assignee, (A) such Conduit Assignee shall
be the owner of the Purchaser Invested Amount with respect to such CP Conduit
Purchaser, (B) the related administrative or managing agent for such Conduit
Assignee will act as the administrative agent for such Conduit Assignee
hereunder, with all corresponding rights and powers, express or implied, granted
to the Funding Agent hereunder or under the other

<PAGE>   62
                                       58

Transaction Documents, (C) such Conduit Assignee and its liquidity support
provider(s) and credit support provider(s) and other related parties shall have
the benefit of all the rights and protections provided to such CP Conduit
Purchaser herein and in the other Transaction Documents (including, without
limitation, any limitation on recourse against such Conduit Assignee as provided
in this paragraph), (D) such Conduit Assignee shall assume all of such CP
Conduit Purchaser's obligations, if any, hereunder or under any other
Transaction Document and such CP Conduit Purchaser shall be released from all
such obligations, (E) all distributions in respect of the Purchaser Invested
Amount with respect to such CP Conduit Purchaser shall be made to the applicable
agent or administrative agent, as applicable, on behalf of such Conduit
Assignee, (F) the definitions of the terms "Monthly Funding Costs" and
"Discount" shall be determined in the manner set forth in the definition of
"Monthly Funding Costs" and "Discount" applicable to such CP Conduit Purchaser
on the basis of the interest rate or discount applicable to commercial paper
issued by such Conduit Assignee (rather than such CP Conduit Purchaser), (G) the
defined terms and other terms and provisions of this Indenture Supplement and
the other Transaction Documents shall be interpreted in accordance with the
foregoing, and (H) if requested by the Administrative Agent or the agent or
administrative agent with respect to the Conduit Assignee, the parties will
execute and deliver such further agreements and documents and take such other
actions as the Administrative Agent or such agent or administrative agent may
reasonably request to evidence and give effect to the foregoing. No assignment
by any CP Conduit Purchaser to a Conduit Assignee of the Purchaser Invested
Amount with respect to such CP Conduit Purchaser shall in any way diminish the
obligations of the APA Bank with respect to such CP Conduit Purchaser under
SECTION 2.3 to fund any Increase. Notwithstanding any contrary provision in this
Indenture Supplement, a Conduit Assignee shall not be entitled to receive with
respect to the rights and obligations under this Indenture Supplement assigned
to it pursuant to this Section 11.10(b) any greater Increased Costs than the
assignor CP Conduit Purchaser would have been entitled to receive with respect
to those rights and obligations unless such assignment shall have been made with
the prior written consent of the Issuer.

         (c) Any APA Bank may, in the ordinary course of its business and in
accordance with applicable law, at any time sell all or any part of its rights
and obligations under this Indenture Supplement and the Series 2001-1 Investor
Notes, with the prior written consent of the Administrative Agent, the Issuer
and the Collection Agent (in each case, which consent shall not be unreasonably
withheld), to one or more banks (an "ACQUIRING APA BANK") pursuant to a transfer
supplement, substantially in the form of EXHIBIT F (the "TRANSFER SUPPLEMENT"),
executed by such Acquiring APA Bank, such assigning APA Bank, the Funding Agent
with respect to such APA Bank, the Administrative Agent, the Issuer and the
Collection Agent and delivered to the Administrative Agent. Notwithstanding the
foregoing, no APA Bank shall so sell its rights hereunder if such Acquiring APA
Bank is not an Eligible Assignee.

         (d) Any APA Bank may, in the ordinary course of its business and in
accordance with applicable law, at any time sell to one or more financial
institutions or other entities ("PARTICIPANTS") participations in its APA Bank
Percentage of the Commitment Amount with respect to it and the other APA Banks
included in the related Purchaser, its Series 2001-1 Investor Note and its
rights hereunder pursuant to documentation in form and substance satisfactory to
such APA Bank and the Participant; PROVIDED, HOWEVER, that (i) in the event of
any such sale by an APA Bank to a Participant, (A) such APA Bank's obligations
under this Indenture Supplement shall remain unchanged, (B) such APA Bank shall
remain solely

<PAGE>   63
                                       59

responsible for the performance thereof and (C) the Issuer and the
Administrative Agent shall continue to deal solely and directly with such APA
Bank in connection with its rights and obligations under this Indenture
Supplement and (ii) no APA Bank shall sell any participating interest under
which the Participant shall have rights to approve any amendment to, or any
consent or waiver with respect to, this Indenture Supplement or any Transaction
Document, except to the extent that the approval of such amendment, consent or
waiver otherwise would require the unanimous consent of all APA Banks hereunder.
A Participant shall have the right to receive Increased Costs but only to the
extent that the related selling APA Bank would have had such right absent the
sale of the related participation.

         (e) Any CP Conduit Purchaser and the APA Banks with respect to such CP
Conduit Purchaser may at any time sell all or any part of their respective
rights and obligations under this Indenture Supplement and the Series 2001-1
Investor Notes, with the prior written consent of the Administrative Agent, the
Issuer and the Collection Agent (in each case, which consent shall not be
unreasonably withheld), to a multi-seller commercial paper conduit and one or
more banks providing support to such multi-seller commercial paper conduit (an
"ACQUIRING PURCHASER") pursuant to a transfer supplement, substantially in the
form of EXHIBIT G(the "PURCHASER SUPPLEMENT"), executed by such Acquiring
Purchaser, the Funding Agent with respect to such Acquiring Purchaser (including
the CP Conduit Purchaser and the APA Banks with respect to such Purchaser), such
assigning CP Conduit Purchaser and the APA Banks with respect to such CP Conduit
Purchaser, the Funding Agent with respect to such assigning CP Conduit Purchaser
and APA Banks, the Administrative Agent, the Issuer and the Collection Agent and
delivered to the Administrative Agent.

         (f) The Issuer authorizes each APA Bank to disclose to any Participant
or Acquiring APA Bank (each, a "TRANSFEREE") and any prospective Transferee any
and all financial information in such APA Bank's possession concerning the
Issuer, the Collateral, the Collection Agent and the Transaction Documents which
has been delivered to such APA Bank by the Issuer or the Collection Agent in
connection with such APA Bank's credit evaluation of the Issuer, the Collateral
and the Collection Agent.

         SECTION 11.11. SECURITIES LAWS. Each Purchaser hereby represents and
warrants to the Issuer and the Collection Agent that it is an "accredited
investor" as such term is defined in paragraphs (1), (2), (3) and (7) of Rule
501(a) of Regulation D under the Securities Act and has sufficient assets to
bear the economic risk of, and sufficient knowledge and experience in financial
and business matters to evaluate the merits and risks of, its investment in a
Series 2001-1 Investor Note. Each Purchaser agrees that its Series 2001-1
Investor Note will be acquired for investment only and not with a view to any
public distribution thereof, and that such Purchaser will not offer to sell or
otherwise dispose of its Series 2001-1 Investor Note (or any interest therein)
in violation of any of the registration requirements of the Securities Act, or
any applicable state or other securities laws. Each Purchaser acknowledges that
it has no right to require the Issuer to register its Series 2001-1 Investor
Note under the Securities Act or any other securities law. Each Purchaser hereby
confirms and agrees that in connection with any transfer by it of an interest in
the Series 2001-1 Investor Note, such Purchaser has not engaged and will not
engage in a general solicitation or general advertising including
advertisements, articles, notices or other communications published in any
newspaper, magazine or similar media or

<PAGE>   64
                                       60

broadcast over radio or television, or any seminar or meeting whose attendees
have been invited by any general solicitation or general advertising.

         SECTION 11.12. ADJUSTMENTS; SET-OFF. (a) If any Purchaser (a
"BENEFITTED PURCHASER") shall at any time receive in respect of its Purchaser
Invested Amount any distribution of principal, interest, Unused Fees or any
interest thereon, or receive any collateral in respect thereof (whether
voluntarily or involuntarily, by set-off or otherwise) in a greater proportion
than any such distribution received by any other Purchaser, if any, in respect
of such other Purchaser's Purchaser Invested Amount, or interest thereon, such
Benefitted Purchaser shall purchase for cash from the other Purchaser such
portion of such other Purchaser's interest in the Series 2001-1 Investor Notes,
or shall provide such other Purchaser with the benefits of any such collateral,
or the proceeds thereof, as shall be necessary to cause such Benefitted
Purchaser to share the excess payment or benefits of such collateral or proceeds
ratably with the other Purchaser; PROVIDED, HOWEVER, that if all or any portion
of such excess payment or benefits is thereafter recovered from such Benefitted
Purchaser, such purchase shall be rescinded, and the purchase price and benefits
returned, to the extent of such recovery, but without interest. The Issuer
agrees that any Purchaser so purchasing a portion of another Purchaser's
Purchaser Invested Amount may exercise all rights of payment (including, without
limitation, rights of set-off) with respect to such portion as fully as if such
Purchaser were the direct holder of such portion.

         (b) In addition to any rights and remedies of the Purchasers provided
by law, each Purchaser shall have the right, without prior notice to the Issuer,
any such notice being expressly waived by the Issuer to the extent permitted by
applicable law, upon any amount becoming due and payable by the Issuer hereunder
or under the Series 2001-1 Investor Notes to set-off and appropriate and apply
against any and all deposits (general or special, time or demand, provisional or
final), in any currency, and any other credits, indebtedness or claims, in any
currency, in each case whether direct or indirect, absolute or contingent,
matured or unmatured, at any time held or owing by such Purchaser to or for the
credit or the account of the Issuer. Each Purchaser agrees promptly to notify
the Issuer and the Administrative Agent after any such set-off and application
made by such Purchaser; PROVIDED that the failure to give such notice shall not
affect the validity of such set-off and application.

         SECTION 11.13. COUNTERPARTS. This Indenture Supplement may be executed
in any number of counterparts and by the different parties hereto in separate
counterparts, each of which when so executed shall be deemed to be an original,
and all of which taken together shall constitute one and the same agreement.

         SECTION 11.14. NO BANKRUPTCY PETITION. (a) Each of the Administrative
Agent, the CP Conduit Purchasers, the APA Banks and the Funding Agents hereby
covenants and agrees that, prior to the date which is one year and one day after
the later of (i) the last day of the Amortization Period and (ii) the last day
of the amortization period of any other Series of Outstanding Investor Notes ,
it will not institute against, or join any other Person in instituting against,
the Issuer any bankruptcy, reorganization, arrangement, insolvency or
liquidation proceedings, or other similar proceedings under any federal or state
bankruptcy or similar law.

<PAGE>   65
                                       61

                  (b) The Issuer, the Collection Agent, the Indenture Trustee,
the Administrative Agent, each Funding Agent and each APA Bank hereby covenants
and agrees that, prior to the date which is one year and one day after the
payment in full of all outstanding Commercial Paper issued by, or for the
benefit of, a CP Conduit Purchaser, it will not institute against, or join any
other Person in instituting against, such CP Conduit Purchaser (or the Person
issuing Commercial Paper for the benefit of such CP Conduit Purchaser) any
bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings,
or other similar proceedings under any federal or state bankruptcy or similar
law.

         This covenant shall survive the termination of this Indenture
Supplement and the Base Indenture and the payment of all amounts payable
hereunder and thereunder.

         SECTION 11.15. TERMINATION OF THIS INDENTURE SUPPLEMENT. This Indenture
Supplement shall terminate upon the termination of the Amortization Period.

         SECTION 11.16. LIMITED RECOURSE. (a) Notwithstanding anything to the
contrary contained herein, any obligations of each CP Conduit Purchaser
hereunder to any party hereto are solely the corporate obligations of such CP
Conduit Purchaser and shall be payable at such time as funds are received by or
are available to such CP Conduit Purchaser in excess of funds necessary to pay
in full all of its outstanding Commercial Paper and, to the extent funds are not
available to pay such obligations, the claims relating thereto shall not
constitute a claim against such CP Conduit Purchaser but shall continue to
accrue. Each party hereto agrees that the payment of any claim (as defined in
Section 101 of Title 11 of the Bankruptcy Code) of any such party against a CP
Conduit Purchaser shall be subordinated to the payment in full of all of its
Commercial Paper.

         (b) No recourse under any obligation, covenant or agreement of any CP
Conduit Purchaser contained herein shall be had against any incorporator,
stockholder, officer, director, employee or agent of such CP Conduit Purchaser,
its administrative agent, the Funding Agent with respect to such CP Conduit
Purchaser or any of their Affiliates by the enforcement of any assessment or by
any legal or equitable proceeding, by virtue of any statute or otherwise; it
being expressly agreed and understood that this Indenture Supplement is solely a
corporate obligation of such CP Conduit Purchaser individually, and that no
personal liability whatever shall attach to or be incurred by any incorporator,
stockholder, officer, director, employee or agent of such CP Conduit Purchaser,
its administrative agent, the Funding Agent with respect to such CP Conduit
Purchaser or any of its Affiliates (solely by virtue of such capacity) or any of
them under or by reason of any of the obligations, covenants or agreements of
such CP Conduit Purchaser contained in this Agreement, or implied therefrom, and
that any and all personal liability for breaches by such CP Conduit Purchaser of
any of such obligations, covenants or agreements, either at common law or at
equity, or by statute, rule or regulation, of every such incorporator,
stockholder, officer, director, employee or agent is hereby expressly waived as
a condition of and in consideration for the execution of this Indenture
Supplement; PROVIDED that the foregoing shall not relieve any such Person from
any liability it might otherwise have as a result of fraudulent actions taken or
omissions made by them. The provisions of this Section 11.18 shall survive
termination of this Indenture Supplement.

<PAGE>   66
                                       62

         SECTION 11.17. WAIVER OF SETOFF. Notwithstanding any other provision of
this Indenture Supplement or any other agreement to the contrary, all payments
to the Purchasers hereunder shall be made without set-off or counterclaim.

         SECTION 11.18. CONFLICT OF INSTRUCTIONS. In the event the Issuer and
the Collection Agent shall have delivered conflicting instructions to the
Indenture Trustee or the Administrative Agent to take or refrain from taking
action hereunder, the Indenture Trustee or the Administrative Agent, as the case
may be, shall follow the instructions of the Issuer.

         SECTION 11.19. CHASE CONFLICT WAIVER. Chase acts as Indenture Trustee,
the Funding Agent with respect to Park Avenue Receivables Corporation ("PARCO")
and as administrative agent for PARCO, as issuing and paying agent for PARCO's
Commercial Paper, as provider of other backup facilities for PARCO, and may
provide other services or facilities from time to time (the "CHASE ROLES"). Each
of the parties hereto hereby acknowledges and consents to any and all Chase
Roles, waives any objections it may have to any actual or potential conflict of
interest caused by Chase's acting as the Indenture Trustee, the Funding Agent
with respect to PARCO or as the APA Bank with respect to PARCO and acting as or
maintaining any of the Chase Roles, and agrees that in connection with any Chase
Role, Chase may take, or refrain from taking, any action which it in its
discretion deems appropriate.

         SECTION 11.20. SUBMISSION TO JURISDICTION; WAIVER OF JURY TRIAL.

         (a) Each of the parties hereto irrevocably and unconditionally submits
to the nonexclusive jurisdiction of the United States District Court for the
Southern District of New York and of any New York state court sitting in the
City of New York for purposes of all legal proceedings arising out of or
relating to this Indenture Supplement, the Transaction Documents or the
transactions contemplated hereby or thereby. Each of the parties hereto hereby
irrevocably waives, to the fullest extent it may effectively do so, any
objection which it may now or hereafter have to the laying of the venue of any
such proceeding brought in such a court and any claim that any such proceeding
brought in such a court has been brought in an inconvenient forum. Each of the
parties hereto agrees that service of process in any such action or proceeding
may be effected by mailing a copy thereof by registered or certified mail,
postage prepaid, in the case of the Issuer, to the Issuer's agent for service of
process identified pursuant to SECTION 9.1(r) and, in the case of Goodyear, to
Goodyear at its address set forth in the Receivables Purchase Agreement and
agrees that nothing herein shall affect the right to effect service of process
in any other manner permitted by law. In addition, nothing in this Section 11.20
shall affect the right of any party hereto to bring any action or proceeding
against any other party hereto or its respective property in the courts of other
jurisdictions.

         (b) EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY
WAIVES TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS
INDENTURE SUPPLEMENT OR ANY OTHER OF THE TRANSACTION DOCUMENTS AND FOR ANY
COUNTERCLAIM THEREIN.

<PAGE>   67

         IN WITNESS WHEREOF, the Issuer, the Collection Agent, the
Administrative Agent, the CP Conduit Purchasers, the APA Banks, the Funding
Agents and the Indenture Trustee have caused this Indenture Supplement to be
duly executed by their respective officers hereunto duly authorized as of the
day and year first above written.

                                WINGFOOT A/R LLC

                                By: /s/ Stephanie W. Bergeron
                                   ---------------------------------------------
                                   Name: Stephanie W. Bergeron
                                   Title: Vice President and Treasurer

                                THE GOODYEAR TIRE & RUBBER COMPANY
                                AS COLLECTION AGENT

                                By: /s/ Stephanie W. Bergeron
                                   ---------------------------------------------
                                   Name: Stephanie W. Bergeron
                                   Title: Vice President and Treasurer

                                THE CHASE MANHATTAN BANK,
                                as Administrative Agent

                                By: /s/ Lara Graff
                                   ---------------------------------------------
                                   Name: Lara Graff
                                   Title: Vice President

                                THE CHASE MANHATTAN BANK,
                                as Indenture Trustee

                                By: /s/ Kristen Driscoll
                                   ---------------------------------------------
                                   Name: Kristen Driscoll
                                   Title: Assistant Vice President

                                PARK AVENUE RECEIVABLES
                                CORPORATION, as a CP Conduit Purchaser

                                By: /s/ Andrew L. Stidd
                                   ---------------------------------------------
                                   Name: Andrew L. Stidd
                                   Title: President

<PAGE>   68

                                THE CHASE MANHATTAN BANK, as an APA Bank

                                By: /s/ Bradley S. Schwartz
                                   ---------------------------------------------
                                   Name: Bradley S. Schwartz
                                   Title: Managing Director

                                THE CHASE MANHATTAN BANK,
                                as a Funding Agent

                                By: /s/ Lara Graff
                                   ---------------------------------------------
                                   Name: Lara Graff
                                   Title: Vice President

                                SPECIAL PURPOSE ACCOUNTS RECEIVABLES COOPERATIVE
                                CORPORATION, as a CP Conduit Purchaser

                                By: /s/ John Gevlin
                                   ---------------------------------------------
                                   Name: John Gevlin
                                   Title: Vice President

                                CANADIAN IMPERIAL BANK OF COMMERCE,
                                as an APA Bank

                                By: /s/ Henry Sandlass
                                   ---------------------------------------------
                                   Name: Henry Sandlass
                                   Title: Managing Director

                                CANADIAN IMPERIAL BANK OF COMMERCE,
                                as a Funding Agent

                                By: /s/ Henry Sandlass
                                   ---------------------------------------------
                                   Name: Henry Sandlass
                                   Title: Managing Director

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